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The
INCLUDING
Bank Sz Quotation Section
Railway Earnings Section
VOL. 93.
financial
ijrtintde
Electric Railway Section
State and City Section
Railway 8c Industrial Section
Bankers' Convention Section
SATURDAY, AUGUST 26 1911.
.
Thranicle
gixtPUBLISHED
WEEKLY.
NO. 2409.
Week ending August 19.
Clearings at1911.
1910.
Inc. or
Dec.
1909.
Terms of Subscription-Payable in Advance
1908.
$
$
$
$
+
256 327 839 244 911 624 +4.7 259 109 506 215 789 106
Chicago
$10 00
For One Year
22
900
771
20
608
241
400
21
.
22
450
00
Cincinnati
6
810
850
+6.4
For Six Months
20 361 697
14 014,869
19 913 682 +2.2
17 391 342
Cleveland
13 00
European Subscription (including postage)
11,075.928
20,002,147
16,761,512 +19.3
14.026,436
Detroit
7 50
European Subscription six months (including postage)
9,065,856
13,346,198
10,536.414
12,089,983 +10.4
22 148. Milwaukee
Annual Subscription in London (including postage)
6,694.650
7.631.166
9,421.098 -17.2
_
7,802,098
11 11 8, Indianapolis
Six Months Subscription in London (including postage)
4.501,500
6,000,000
5,347,900 +6.4
5,691,600
Columbus
$11 50
Canadian Subscription (including postage)
4,092,725 +11.5
4,039,021
3,802.585
4,563,896
Toledo
Subscription includes following Supplements2,581,096
3,026,259 -8.9
2,187,375
2,757,364
Peoria
-4.3
2,168,608
1,924,674
2,617,982
2,505,414
Rapids_
Grand
(semi-annually)
CITY
AND
STATE
(monthly)
QUOTATION
AND
BANE
1,640,342
1,243,146
2,190,384 -13.7
1,896,030
RAILWAY AND INDUSTRIAL (quarterly) ELECTRIC RAILWAY(3 times yearly) Dayton
1.991.651
1,634,888
2,042,837 +6.7
2,180,349
Evansville
BANKEES' CONVENTION (yearly)
RAILWAY EARNLN(18(monthly)
630,270
500,579
722,029 -0.6
717,399
Kalamazoo
1,074,412
737,334
1,165,458 -8.2
1,069,953
Springfield, Ill
Terms of Advertising-Per Inch Space
700,000
879,000
+67.1
1,050,000
1,755.000
Akron
$4 20
rransient matter per Inch space(14 agate lines)
739,368
824,472
-0.1
910.278
909,584
_
_
_
_
Wayne
22 00 Fort
(8 times)
Two Months
454,955
586.867
632,925 +9.9
695.673
Lexington
00
29
(13
times)
Three
Months
529,166
610,099
+5.5
666,933
703,987
.3tanding Business Cards / Six Bfonths
Rockford
50 00
(26 times)
679.190
778,120
1,032,807 -6.3
967,832
87 00 Youngstown __ Twelve Months(52 times)
450,000
520.890
547.272 +6.8
584,511
Quincy
424,878
468,080
CHICAGO OFFICE-Pliny Bartlett,$13 Monadnock Block; tel.Harrison 4012 Decatur
557,976 -1.0
552,622
413,703
534,337
782,634 -34.8
510.256
Springfield, 0..
LONDON OFFICE-Edwards & Smith, 1 Drapers' Gardens, E. C.
400,000
554.075
839,171 +21.1
1,015,987
Canton
WILLIAM( B. DANA COMPANY,Pabllshers,
387,063
470,247
590,410 +4.2
615,000
Bloomington
367,951
489.185
449,059 +8.0
IN 11 w York. South Bend
484,903
P.O. Ilex 958. Front, Pine and Depeyeter Sts.,
375,000
386.664
400,000 +26.8
507,293
Jackson
517,249
461,505 +25.9
580.981
Saginaw
289.179
306,736
Published every Saturday morning by wir,LtAm B. DANA COMPANY, Mansfield
368,129 -3.0
357,112
253,604
Jacob Seibert Jr., President and Treas.; George S. Dana and Arnold G. Dana. Danville
323,987
337,037 +12.5
379,149
199,755
328,144
Vice-Presidents; Arnold G. Dana, Sec. Addresses of all, Office of the Company. Jacksonville, I11325,707 -13.0
283,213
275,000
329,161
298.056 +19.5
356,304
Lima
250,000 +10.0
275.000
Lansing
95,222
169,015
136,340 +15.7
157,709
CLEARING-HOUSE RETURNS.
Ann Arbor
21,114
22,799
33,162
52,530 -36.9
The following table, made up by telegraph, &c., Indicates that the total Adrian
ending
367,511
,
+1.6
361,767
week
Owensboro
for
States
bank clearings of all clearing houses of the United
Tot. Mid.West.1 373.923,173 356,595,359 +4.8 360,729,841 310,990,598
Aug. 26 have been $2,533,161,863, against $2,890,253,692 last week and
$2,436,845,003 the corresponding week last year.
34,308,340
38.833.333
49,874,305
44.177,032 +12.9
San Francisco___
9,289,079
13.866,262
19,239.558
13.544,475 +42.0
Los Angeles
8,250,220
10,096.679 +3.0
12,243,537
Per
10.403.250
Seattle
Clearings-Returns by Telegraph.
5,531,957
7,017,425
10.191,756 • 9,041,606 +12.7
Cent.
Portland
1910.
1911.
Week ending Aug. 26.
2,088,843
4,013.152
4,048,844 -9.1
3,679,430
Spokane
4,579,596
6,912,853
5,135,510 -2.5
5,008,837
+2.0 Salt Lake City
$1,169,498,020 $1,146,326,173
New York
3,845,925
5,727,458
5,759,077 -30.1
4,024,746
+4.3 Tacoma
98,679,035
102,885,499
Boston
1,466,034
1,805,519
2,618,768 +26.8
3,321,274
-4.2 Oakland
98,332,408
94,179,987
Philadelphia
1,083,315
994,290
1.139,426 +51.3
1,723,268
+4.6 Sacramento
22,423,410
23,463,116
Baltimore
740,000
1,085,000
+39.8
1,109,000
1,550,000
+0.7
Diego
San
203,405,832
204,757,085
Chicago
583,305
637,860
691,999 +44.3
998,296
+9.8 Stockton
49,954,516
54,636,328
St. Louis
547,436
526,928
577,215 -1.8
567,066
11,165,106 +25.6 San Jose
14,022,136
New Orleans
458,650
466,661
641,173 +8.1
693,162
Fresno
500,000
540,423 +18.2
+2.0 Pasadena
639,014
$1,663,442,171 $1,630,286,480
Seven cities, 5 days
185,244
-10.4
288.133
375,519
+6.3
_
_
336,535
North
Yakima
415,379,486
450,006,429
Other cities, 5 day,
290,000
286,627 -7.8
264,261
Reno
+3.3
72,975,034
$2,113,448,600 $2,045,665,966
95,208,391
Total all cities, 5 days
99,783,373 +12.8
Total Pacific_ - 112,514,758
+7.3
391,179,037
419,713,263
All cities, 1 day
36.314,631
46,073.035
46,700,467 -7.4
43,264,943
Kansas City _
14,276.273
13,394,703
21,247,368 -20.6
16,870,342
-1-4 0 Minneapolis
to ARA Slidc mg
CV) MOR 1 RI Inn
Pront n11 nf*Ino I'M* man'.
10.010,899
13,012,763
14,508.972 -5.2
13,750,280
Omaha
8,318,306
10,258,669
-11.3
9,834,564
8,719,577
Satnext
Paul
St.
The full details for the week covered by tho above will be given
7,938,933
7,896,044
9.011,560 -5.5
8,512.750
urday. We cannot furnish them to-day, clearings being made up by the Denver
4,429,942
4,952.806
+2.8
5.555,620
5,712,967
of
day
Joseph
last
St.
the
above
the
in
and
hence
on
Saturday,
noon
at
clearing houses
2,741,289
3,332,057
+2.0
3,621,004
3,694,500
Des Moines
the week has to be in all cases estimated, as we go to press Friday night.
1,799,519
2,261,185
2,372,286 -10.7
2,118,625
We present below detailed figures for the week ending with Saturday, Sioux City
1,310,772
2,768,904
3,219,730 +0.6
3,239,147
Wichita
noon, Aug. 10, for tour years.
2,401,757
3,347,569 -31.5
2,292,047
Duluth
1,021,730
1,496,768
1,401,935 +1.8
1,427,384
Topeka
979,885
1,295,546
Week ending August 19.
1,292,468 +20.1
1,552,983
Lincoln
789,618
921,692
1,170,397 +32.1
1,546,607
Clearings at
Davenport _.._
753.088
795,947
Inc. or
990,000 +13.1
1,120,000
Cedar Rapids
712,510
647,277
1908.
+7.5
1909.
Dec.
1910.
1911.
730,424
785.159
Springs
Colorado
475,838
660,758
539,785 +5.7
570,774
Pueblo
478,694
632,768
$
720,486 -7.9
663,748
Fargo
465,000
575,000
1,694,377,256 1,465.790,055 +15.6 2,184,461,476 1,410,795,393 Sioux Falls
758,974 -16.6
632,748
New York
283,890
334,186
99,121,678 Fremont
309,965 +2.2
316,851
Philadelphia _ 131,632,836 125,482,377 +4.9 145,645,021
37,300,376 Waterloo
45,323,322
43,390,484
43,913,367 -1.2
1 032 026 -8.6
943,013
Pittsburgh
964 889
827 533
21,295.508 Helena
26,058,276
26,825,944 • +8.1
29,010,127
844 023
914 565 -7.7
Baltimore
7,235,915 Aberdeen
8.208,204
9,086,802 +7.1
9,732,812
273 792
349 338 -21.6
Buffalo
4,716,456 Hastings
5,334,113 +11.4
5,140,954
180 000 +6.9
5,942,580
192 368
Albany
204 444
4,173,478 Billings
164 999
5,653,901 +8.2
5,671,605
92,595 +241.8
6,117,808
316 497
Washington _ _ _
2,582,871
3,324,745 +13.2
3,386,763
3,754,812
99,270,150
Rochester
-8.1 114,704,397
129,902,092
Tot. oth.West. 119 361,123
1,892,591
2,226,516
+6.1
2,408,573
2,361,255
Scranton
54,355,118
61,617,770
65,590,039 +2.3
67,115,157
1,665.530 St. Louis
1.977,996 +16.1
1,951,965
2,295.000
Syracuse
12,643,718
14,594,624
14,210,262 +14.1
16,213,556
937,641 New Orleans_ _ _
1,297,504 +5.5
1,265,526
1,368,102
Reading
9 705.992
+6.1
10 998 695
209
650
202
10
296
11
970,358
Louisville
1,251,983
+27.5
1,213,617
1,595,786
Wilmington
10,206,144
10,996,842
-12.0
14,449,190
12.714,675
1,120,580 Houston
1,323,944 -7.7
1,180.044
1,221,894
Wilkes-Barre
6,059,500
4,322.000
6,489,500 +9.8
7,126,000
1,323,670 Galveston
1,669,857 +7.5
1,414,901
1,794,629
Wheeling
4,600.000
6,590,000
5,918,999 +12.4
6,650,250
989,265 Richmond
1.081,213 +6.4
1,179,580
1,150,000
Harrisburg
4.706,209
5,081,543
4,305,264 +4.2
4,485.978
1,098,701 Fort Worth
1,386,911 +6.9
1,613,850
1,482,044
Trenton
3,136,553
4,098,018 -1.!
3,549.509
4,022,070
612,675 Memphis
836,460 +2.1
755,682
854.479
York
3,054.037
5,611,795
7,349.696 +23.8
9,099,109
499,514 Atlanta
782,114 +6.6
613,099
834,155
Erie
2,762,529
3.627,718
3,695,000 +4.2
3,850,000
471,141 Nashville
583,092
576,716
458,397 +25.6
Chester
2 840 453
3,116,892
3,297,016 +11.0
3,659,866
447,104 Savannah
505,951
468,801 +7.9
404,797
Altoona
1 681 349
2
+10.4
159
458
531
580
2
2,850
726
378,309
Norfolk
413,116 +15.0
502,464
475,000
Greensburg
1 509 145
1 691 509
2 001 530 -3.2
1,937 563
338.200 Birmingham ___ 462,000
410.900 +12.4
396,200
Binghamton _ _ _ _
1 214,746
744
+34.7
507
764
1
1,999
261
2,693
_
_
233,534
218,700
Jacksonville
-0.6
220,000
244,553
Franklin
1,200,645
1,277,163
-7.0
1,468,999
1,366,931
784,624
Knoxville
792,061 -1.0
Lancaster
1,200,000
1,140,225
1,674,059 +15.3
1,929,819
Chattanooga _
1,181,206
1,167,321
1,282,248 -17.0
1,064,496
Total Middle_ 1,941,939,050 1,702.009,077 +14.1 2,439,623,564 1,600,200,488 Mobile
948,197
1,083,515
1,334,204
-6.9
1,242,947
151,092,331 137.453,263 +9.9 147,155,288 120,456,859 Augusta
Boston
922,669
1,650,000
2.320.000 +22.3
1,803,419
Oklahoma.
5,447,400
7,000,000
6.500,000
6,643,900 +5.4
Providence
878,303
1,350,000
+10.1
1,228.579
1,363,491
Rock
2 616,773 Littc
3,819,530
3,040,002 +25.6
2,996 727
Hartford
774,299 .
800.000
1,093.223 -4.5
1,044,681
Charleston
2,261,718
2,733,627
+16.6
2,343,112
2,203,636
New Haven
486,919
615,000
+200.4
800.331
2,404,378
Macon
1,891,008
1,756,052
1,984,345 -11.5
1,622,325
Portland
337,960
536,577
+187.4
673,528
1,936,392
1,700.000 Austin
1,999,815
1,913,988 +4.5
1,850,000
Springfield
167,457
148,519
185,281 -11.7
163.587
•
Vicksburg
2,203,284
1,420,711
+6.1
2,076,210
1,571,803
Worcester
217,351
427,740
372,617 +33.4
497,159
,N.C.
Wilmington
715 013
867 499 -13.5
893 103
750,607
Fall River
305,000
-13.1
242,000
345,000
299,773
1 208 377
589 044 Jackson
929 666 +7.3
997 252
New Bedford.-- 184,304
226,909 +10.2
250,000
412 274 Meridian
413 125
473 051 +13.2
+ 535 550
Lowell
488 665 +11.9
540 464
388 480
Total Southern 169,081,486 159,639.996 +5.9 146,331,523 126.941,200
546 054
Holyoke
2,890,253,692 2.606,143,604 +10.9 3,323,642,564 2,343,278,75(i
Total all
Total New Eng. 173 434 102 158 213 701 +9.6 167 044 848 137 901 280
N.Y 1.195.876.436 1.140.353.549 +4.9 1.139.181.088 932.483.357
Outside
Note.-For Canadian clearings see "Commercial and Miscellaneous News."
•
•
•
492
THE CHRONICLE
[VOL. Lxxxxm.
schedule of freight rates,thinking that,now that busiTHE FINANCIAL SITUATION.
ness was prosperous and everybody was making money,
The settlement of the great strike of railway workers no objection would be raised
to a moderate increase in
in the United Kingdom, which almost completely transportation charges. But
on the very eve of the day
paralyzed industrial affairs in the British isles last when the higher rates were
to have gone into effect, the
Friday and Saturday, has many lessons for the people Federal Government, now
in the control of Presidczt
of this country; but most of all it shows how different Taft, furtively and without
notice to the managers\_
is the attitude of Government there from what it is obtained a Court injunction
and stopped the whole \
here towards the rail-carrying industry. The settle- proceeding. Congress on
its part, to clinch the matment was on the basis of the reference of the dispute ter, inserted a proviso in
the Inter-State Commerce
to a Joint Commission, the members of which have Law (then in process
of amendment) forbidding all
since been appointed, both parties agreeing to abide rate advances whatever in
the future except with the
by the decisions of that tribunal on all matters in con- express permission
of the Inter-State Commerce
troversy. But note upon what terms the consent of Board. The hope of the managers
then rested on
the companies was obtained to this agreement. The favorable action by
the Commission. For eight
press dispatches tell us that "the managers consented months, during which
repeated postponements of
to this scheme in view of certain representations made proposed advances in rates were
made,the Commission
to them by the Government, including a promise of had he matter under advisement,
and finally towards
legislation to permit an increase in railway rates."
the end of last February the petitions for higher
The importance of this announcement lies in the rates were denied in toto by
that body. This
circumstance that it is assumed that as a result of was the same Commission, be it
remembered, which
the award or conclusions of the Joint Commission the the previous year had, through
one or more of its
cost of labor to the companies will be substantially members, participated so freely
in arbitration an
raised. The statement we have quoted appeared in mediation proceedings that had
eventuated in such
the cable dispatches in the daily papers last Sunday large and general additions to the
wages and cost of
morning. These dispatches, furthermore, conveyed railroad labor.
Since then the Commission has in
the assurance that both parties had agreed to accept numerous instances ordered reductions
in rates.
the findings of the Commission, and added: "The
It is obvious enough that in the United States not
Government has assured the railway companies that the least consideration is being shown
to the great
it will propose to Parliament next session legislation carrying interest. In the United
Kingdom, on the
providing that increase in the cost of labor due to im- contrary, there is a distinct recognition
of the inconprovement of conditions of labor will be valid justifi- trovertible fact that additions to outlays
must have
cation for a reasonable increase in charges within the as their counterpart larger revenues.
The contrast
legal maximum."
becomes all the more striking when we note that the
How different all this is from the course pursued by Government of Great Britain,
which has promised
Governmental agencies in the United States towards legislation permitting an advance in
rates, is a radical
the railroads, which have during the last three or four Government—perhaps the
most radical that the
years been confronted with precisely similar problems. United Kingdom has had
in its entire history. Yet
In 1908, when railroad earnings in the United States, this Government has not been
afraid to do simple jus
following the panic of 1907, were shriveling up at the tice to the roads. In this
country, on the other hand,
rate of $50,000,000 a month, or $600,000,000 a year, no official from the highest
to the lowest seems to have
the railroads had under advisement the question of re- either the courage or the decency to
stand out for fair
ducing wages, which in the antecedent period had been treatment of the carrying industry.
Everybody in
so decidedly advanced. But President Roosevelt, political life, apparently, endeavors to
curry popular
who was then in office, made such threats of antago- favor by getting in some kind of a
whack at the denistic action on the part of the Government in the fenceless rail carrier. What the
consequences may be
event that the move should be undertaken that the to the railroad industry, or to those
who have their
managers had no option but to abandon the attempt. money invested in it, no one appears
to care a straw.
Later, when it was proposed to advance freight rates We are not posing as prophets when
wesay that a day
so as to offset in some small measure the tremendous of reckoning must come—perhaps is
already here.
losses in earnings which were still piling up against the
No matter what may be said of the radical policies
roads, the Roosevelt Administration again intervened, of the Asquith Ministry and of the revolutionary
barring out that measure of relief also.
Budget proposals of Lloyd-George, it must be said to
In 1910, as trade had again revived and railroad the credit of the British Government that it has
not
revenues were getting back to the level of 1907, the failed to give due consideration to the vast interests
managers were hoping that the past had been re- represented by the railroads. Contrariwise, in the
trieved. But now railroad employees everywhere de- United States every hand is raised against the
manded a new increase in their scale of pay, though roads. This difference in policy towards large capital
they had suffered no reduction in 1908 or 1909, when investments may account for the fact that a radical
railroad business had fallen away so seriously. The administration on the other side is not viewed with
railroads were loath to yield. They were anxious, the same dread and fear as it is in the United
States.
however, to avert a strike, and in the great majority There the spirit of fair play is always in evidence,
and
of cases the wage question was referred to mediation no one would countenance the surrender of
the ordior arbitration, some member of the Inter-State Com- nary principles of equity and justice. In
this country
merce Commission usually sitting on the arbitration radical schemes of government, judging by
recent exboard under the Erdman Law. The result was in- perience, rank closely akin to unbridled
license, and
variably adverse to the railroads,which wereforced to hence suggest disaster.
grant large and general advances in wages. Then,as
the only means of escape, the railroad managers once
Some slight feeling of relief is felt now that the
more undertook to put into effect a slightly higher extra session of Congress has definitely adjourned.
AUG. 26
1911.]
THE CHRONICLE
Elation over the fact, however, is tempered by the
knowledge that the same Congress will again convene
in regular session in only a little over three months.
The extra session has to its credit the passage of the
reciprocity trade agreement with Canada submitted
by President Taft and for the enactment of which
the special session was called. The Democrats in
their action on this reciprocity agreement, which is a
piece of constructive statesmanship, displayed complete freedom from partisanship. President Taft has
himself testified to this fact and expressed his appreciation of it. The Democratic Party was by tradition
and by its party platform committed to tariff legislation, and had the Democrats sought to gain simply
partisan advantage, they might have set aside this
special arrangement dealing with one country for a
larger scheme of legislation dealing also with other
countries. Good generalship doubtless suggested to
them that if they sacrificed this proposed arrangement
with our neighbor on the north, no matter what the
outcome as to general tariff legislation, they would
suffer at the hands of their countrymen, since there is
only a very limited number of people in the United
States who do not look with favor upon reciprocal
trade with the Dominion.
It is to be regretted that President Taft could not
also see his way clear to sign two of the tariff bills
which the Democrats sent to him for his approval.
We mean the bill revising the wool schedule and the
measure known as the Farmers' Free List Bill. Had
he done this, the tariff question would to that extent
have been taken out of the domain of politics,and the
result must have been distinctly beneficial to trade
and business by the removal of at least that much
uncertainty regarding the tariff situation. The President in his veto messages made a logical argument
against these bills in saying that no action should be
taken until the Tariff Commission which is investigating all the tariff questions should have submitted
a report and announced its conclusions. As he,
however,admits thatthe wool schedule needs revision,
and stands willing apparently to give his approval
to some kind of a revision scheme, it seems to us it
would nevertheless have been better had he accepted
the bill sent to him and which represented a compromise between the desires of the Democrats and the
Republican Insurgents.
The Tariff Board may recommend next December
that the rate of duty should be a little higher or a little
lower than the 29% fixed in the compromise bill as
the duty to be levied upon wool, but that is of little
consequence alongside of the advantage to business
interests that would have resulted from the present
settlement of the whole question. The same remark
may be made with reference to the Farmers' Free List
Bill. That was not a very extensive measure anyway, and its enactment would have placated the farmers. Had President Taft approved these two measures
he would have gone a great way towards depriving the
Democratic Party of campaign material and removing,
the tariff question as an issue from next year's Presidential campaign. The cotton bill, of course, with the
ridiculous amendments grafted on it, revising the iron
and steel and the chemical schedules, and embodying
numerous other incongruities, he could not do otherwise than veto.
Had he taken a stand on his opposition to this last
measure and approved the other two, the political
horizon would now be tolerably clear and next year's
Presidential election might have been fought out on
493
other issues. As it is, no one can tell how long
tariff legislation may drag along, and meanwhile
business will suffer. The regular session will convene
the coming December, and who knows but that
Congress may sit until next summer before completing
its work, and even then send to the President a series
of bills which he cannot approve.
The proposed arbitration treaties between the United
States and Great Britain and France were made the
subject of two reports (or rather three, for there are
two minority reports) laid before the Senate just prior
to its adjournment. The reports came from two
groups of the Committee on Foreign Relations, the
majority having opposed the clause in the treaties
which would give to a joint high commission power
to decide—where the contracting nations disagree as
to whether or not a difference is subject to arbitration
—whether the question is one within the scope of
arbitration. The provision in the treaties governing
this point, the majority report recommended to the
Senate on the 12th inst.,should be stricken out,on the
ground that it violated the Constitutional authority
of the Senate. The views of the majority as set out
in their report were made public on the 15th inst.,
while the minority reports, supporting the treaties,
were submitted to the Senate on the 21st inst.
The majority report enters into a review of what
has already been accomplished in the way of arbitration and shows the differences between previous
treaties and those now pending. In 1905, it is pointed
out, Mr. Hay, then Secretary of State, negotiated
with Great Britain and certain other Powers general
arbitration treaties which were laid before the Senate
by President Roosevelt for ratification. These treaties
provided for the submission to arbitration of practically all questions which did not affect the "vital
interests, the independence,or the honor of the two contracting States and which did not concern the interests
of third parties." Under these treaties, the special
agreement which must be entered into in each particular case for the purpose of defining the questions
and the powers of the arbitrators was to be made by
the Executive without reference to the Senate. The
latter amended these treaties so as to secure the submission of all such special agreements to the Senate
for its advice and consent; but the treaties thus
amended were not presented by the Administration
to the other contracting Powers, and never became
operative.
In 1908 Mr. Root, then Secretary of State, negotiated similar treaties with various Powers in which
the right of the Senate to advise and consent to all
special agreements made under these treaties was
explicitly provided for. Approved by President
Roosevelt, and by him submitted to the Senate, these
treaties were ratified by the Senate without opposiion, and are still the law.
The two treaties now submitted, according to the
majority report, "remove the exceptions made in their
predecessors as to questions affecting national honor,
vital interests, independence or the interests of third
parties, and substitute therefor in Article I a statement of the scope of arbitration, which is designed
by its terms to exclude all questions not properly
arbitrable." The report says that "by the terms
of this article every difference arising between the
two nations is to be submitted to arbitration if such
differences 'are justiciable in their nature by reason
of being susceptible of decision by the application of
494
THE CHRONICLE
the principles of law or equity" and the majority would
not object to this article if it stood above, especially
as there is proper provision that all special agreements
made under this article must be submitted to the
Senate for its advice and consent.
Emphasis is laid, however, on the fact that the
pending treaties do not stop with the article which
defines and enlarges the scope of arbitration; in
Articles II and III provision is made for the establishment, if either party desires it, of a joint commission of inquiry. Such a Commission is to be preliminary to arbitration and is to examine into and
report upon the subject of the controversy between
the two contracting parties. The important part of
these two articles is contained in the last clause of
Article III—and that is the clause which the Committee asks shall be stricken from the treaties. It
reads as follows:
It is further agreed, however, that in cases in which
the parties disagree as to whether or not a difference is
subject to arbitration under Article I of this treaty,
that question shall be submitted to the Joint High
Commission of Inquiry, and if all or all but one of the
members of the Commission agree and report that
such difference is within the scope of Article I, it shall
be referred to arbitration in accordance with the
provisions of this treaty.
The majority report urges that if the joint commission, which it contends may consist of one or more
persons, and which may be composed wholly of foreigners or wholly of nationals,decides that the question
before them is justiciable under Article I., it must then
go to arbitration whether the treaty-making power of
either country believes it to be justiciable or not. The
view taken is that a special agreement coming to the
Senate after the joint commission had decided the
question involved to be justiciable could not be
amended or rejected by the Senate on the ground that
in their opinion the question was not justiciable and
did not come within the scope of Article I. The conclusion therefore is that "the Constitutional powers
of the Senate are taken away pro tanto and are transferred to a commission upon the composition of which
the Senate has no control whatever." The committee
expresses the belief that it would be a violation of the
Constitution of the United States to confer upon an
outside commission powers which under the Constitution devolve upon the Senate. Summing up their
conclusions, the majority say:
"To take from the Senate, in any degree or by any
'means, the power of saying whether a given question
is one for arbitration or not,is to destroy the power of
the Senate on the most important point to be decided
in connection with differences arising with any other
nation. Even if it were Constitutional to deprive
the Senate to this extent of their share in the treatymaking power, it would be most unwise and most
perilous. The Senate of the United States is as earnestly and heartily in favor of peace and of the promotion of universal peace by arbitration as any body of
men, official or unofficial, anywhere in the world,
or as any one concerned in the negotiation of arbitration treaties. The history of the United States for a
period of more than seventy years exhibits a record of
arbitration treaties unequaled by that of any other
nation on earth. Every one of those treaties has received the cordial assent of the Senate of the United
States. The Senate to-day is heartily in favor, in the
opinion of the committee, of enlarging to the utmost
practicable limit the scope of general arbitration
treaties. The committee recommends to the Senate
the approval of the enlarged scope for arbitration pro-
[VoL. Lxxxxim
posed in Article I., but it declines to admit that the
destruction of the Constitutional powers of the Senate
is necessary to the promotion of peace and arbitration,
or that their maintenance diminishes by a hair's
breadth the enlarged scope which these treaties propose for arbitration as the true method for the settlement of international controversies."
In the opinion of Senator Root, who, with Senator
Cullom, signed one of the minority reports, the pending treaties do not involve any abandonment of the
Constitutional powers of the Senate. He shows that
the difference between a special treaty of arbitration
and a general treaty is that in a special treaty the
President and the Senate agree that a particular case
shall be submitted to arbitration, while in a general
treaty the President and the Senate agree that all cases
falling within certain described classes shall be submitted. This, he contends, is what is done by the
now existing general treaties of arbitration with England and with France, and is done, too, by the first
article of the pending treaties, with a materially enlarged description of the classes of cases to be submitted. Referring to the clause in the pending treaties
to which objection is made in the majority report,
he declares that he can see no obstacle to the submission to the arbitral decision of a joint committee
of questions on which the parties have disagreed; such
a submission, he contends, is not delegating to a commission power to say what shall be arbitrated; it is
"merely empowering the commission to find whether
the particular case is one that the President and Senators have said shall be arbitrated." In suggesting
a way in which the treaties might be rendered inapplicable to questions arising under the Monroe Doctrine, Mr. Root says:
"The real objection to the clause which commits
to the proposed joint commissions questions whether
particular controversies are arbitrable is not that the
commission will determine whether the particular case
comes within a known line, but that the commission,
under the language of the first article, may draw the
line to suit themselves instead of observing a line
drawn by the treaty-making power. If we thought
this could not be avoided without amending the treaty
we would vote for the amendment to strike out the
last clause of Article M.,for it is clearly the duty of
the treaty-making power, including the Senate as
well as the President, to draw that line, and that duty
cannot be delegated to a commission.
"We do not think, however, that any such result is
necessary. It certainly is not intended by the treaty
and it seems that it can be effectively prevented without amending the treaty by following a practice for
which there is abundant precedent and making the
construction of the treaty certain by a clause in the
resolution of consent to ratification. Such a clause
being included in the formal ratification will.advise
the other party of our construction, and, being accepted, will remain as the true construction. Such a
clause may well be in substance as follows:
"The Senate advises and consents to the ratification of the said treaty with the understanding, to
be made a part of such ratification, that the treaty
does not authorize the submission to arbitration of
any question which depends upon or involves the
maintenance of the traditional attitude of the United
States concerning American questions or other purely
Governmental policy.'"
A separate minority report was submitted by Senator
Burton, who likewise expressed the opinion that the
clause in question does not deprive the Senate of any
Constitutional right. He suggests, however, a modification of the amendment which Mr. Root proposes.
AuG. 26 1911.]
THE CHRONICLE
495
Fourth—Steps are to be taken forthwith to effect a settleNo action on the reports was taken, and they go over
ment of questions now in dispute between the companies
for further consideration at the regular session.
Improved traffic conditions in Great Britain have
followed the successful conclusion last Saturday night
of the negotiations for terminating the great railway
strike. Some minor disturbances, however, have
continued. The inauguration of the general strike
of railway employees which had occurred on Friday,
the 18th, seriously disorganized the business of the
railroads, as well as trade in general, the situation
becoming more complicated by Saturday. Trouble
at Llanelly, Wales, where riotous strikers on that day
were fired on by troops, resulted in two men being
killed and others being wounded, this list being added
to later in the week, the number of the dead having
reached twelve—due principally to an explosion in a
freight shed fired on by the mob. The riot referred to
caused further agitation, and is believed to have contributed in no small degree to bring the opposing parties
together. The settlement wAs agreed to at a conference
held at the Board of Trade between interests representing the railroads, the trade unions,the Government and
the Board of Trade; and to David Lloyd George, Chancellor of the Exchequer, is given the principal credit
for the results accomplished. The truce was accepted
by the disputing interests through Governmental
intervention and was in more or less measure due to
the assurance given to the railway companies by the
Government that it will propose to Parliament at the
next session legislation providing that increase in the
cost of labor due to improvement of conditions of
railway labor will be valid justification for a reasonable
increase in charges within the legal maximum.
Under the arrangements agreed to, a joint committee of five, named last Tuesday, consisting of two
representatives of the railway companies, two representatives of the men, and a non-partisan Chairman, is,
delegated to investigate the workings of the conciliation agreement of 1907, which has given rise to the
dissatisfaction among the employees of the roads.
This task has been entrusted to Sir David Harrel,
Chairman; Thomas R. Ellis, and Sir Charles G. Beale,
representing the railroads; Arthur Henderson and
John Burnett, representing the men. Sir David
Harrel was Under-Secretary for Ireland from 18931902; Mr. Ellis is Secretary of the Mine Owners'
Association; Sir Charles Beale Vice-Chancellor of the
University of Birmingham, Mr. Henderson is Labor
Member of Parliament for the Barnard Castle Division
of Durham, and Mr. Burnett Chief Labor Correspondent of the Board of Trade. The terms of the
agreement were summarized as follows:
First—The strike to be terminated forthwith, and the
men's leaders to use their best endeavors to induce the men
to return to work at once.
Second—All the men involved in the present dispute,
either by strike or lockout, including casuals who present
themselves for work within a reasonable time, to be reinstated by the companies at the earliest possible moment,
and no one to be subjected to proceedings for breach of contract or otherwise penalized.
Third—Conciliation boards to be convened for the purpose
of settling forthwith all questions at present in dispute as
far as they are within the scope of such boards, provided
notice of such questions be given not later than fourteen days
from the date of this agreement. If the sectional boards fail
to arrive at a settlement, the central board is to meet at once.
Any decisions arrived at are to be retroactive as from the
date of this agreement. It is agreed, for the purpose of this
and the following clause, that rates of wages include remuneration, whether by time or piecework.
and classes of their employees not included within the conciliation scheme of 1907 by means of conferences between
representatives of companies and representatives ofemployees
who themselves are employed by the same companies, and
failing of an agreement by arbitration they are to be arranged mutually or by the Board of Trade. The above is to
be a temporary arrangement pending a report of the commission as to the best means for settling disputes.
Fifth—Both parties are to give every assistance to the
special commission of inquiry, the immediate appointment of
which the Government has announced.
Sixth—Any questions which may arise as to the interpretation of this agreement are to be referred to the Board of
Trade.
On the 19th inst., when the troubles were at practically at their height, the strike leaders maintained
that the number of men out reached 220,000, or
nearly half the total employed on the railways of
England,Ireland, Scotland and Wales. These figures,
however, were claimed by the managers of the railways to be exaggerated. Conditions were then
serious at many centres, especially at Manchester,
where the railways had completely ceased operations,
and the mills, mines and work-shops had been compelled to close, owing to the lack of coal and transportation facilities. The scarcity of coal had also
caused a cessation of work at various other localities,
affecting in particular 20,000 steel workers in the
Barrow-in-Furness district; 50,000 mill hands and
colliers in Lancanshire and Yorkshire, 30,000 in South
Wales and 10,000 colliers at Durham.
As a consequence of the agreement reached on last
Saturday night, resolutions in favor of a resumption
of work were passed on Sunday by practically all the
unions. Beginning with Monday, a gradual return to
business of the railway men occurred. In Liverpool
the settlement of the dock troubles at a conference
between the ship-owners and representatives of the
striking dockmen was announced on Monday, but
subsequently trouble was renewed when the dockers
refused to resume their duties until the tramway and
electric light employees were reinstated. On Wednesday the chairman of the tramway company reinstated
a number of strikers on his own responsibility in the
hope of an early agreement being reached, and on
Thursday a complete adjustment of differences was
arrived at.
An unaccountable anti-Jewish outbreak at Tredegar
and•other Welsh mining towns was another unfavorable
development of the week. The steamship blockade
was lifted at London on Saturday of last week, and on
Monday work at the docks in that city was reported to
be in full swing for the first time in three weeks.
Nevertheless delay in the departure of some of the liners
was occasioned during the week. Owing to the troubled
conditions then prevailing, it was decided by Parliament on the 18th inst. to continue in session until
Tuesday, the 22d inst. A motion to adjourn from
that day until August 29 was defeated on Tuesday
and adjournment was taken until October 24.
Foreign discounts have shown a firmer tendency, in
anticipation of the autumn withdrawals, though in
London yesterday they were fractionally easier again.
Discounts in London are now quoted at 2 11-16 to
23
4% for 60 days and 2 15-16 to 3 1-16% for 90-day
bills to arrive and spot bills at 2%%. The Bank
of England, even in its present strong condition, is
unwilling to lose gold. The joint-stock banks,
by working in harmony with the Bank of England,
496
[VoL. Lxxxxm.
THE CHRONICLE
are keeping discounts up, thus preventing any Higher discounts at London and selling of American
money being taken from London by way of finance securities have been responsible in the main for the
bills drawn in New York. Some bankers hold the steadiness. The feature of the exchange market has
opinion that at the first pronounced weakness of been the pronounced weakness of German exchange
sterling exchange here the Bank of England will on Paris, indicating a withdrawal of French funds
sharply advance its official minimum rate. There- from the German market. Whether such action has
fore the expectations are that gold importations from in any way been prompted by fears of another acute
England, if they should take place this autumn, will be turn in the negotiations between Germany and France
kept within small proportions. The fear that the over the Moroccan situation, remains a problem.
Moroccan negotiations would not be satisfactorily On Monday cheques were drawn for 25,000,000 francs,
concluded by diplomacy has caused considerable representing an installment on the Central Pacific
uneasiness and held the rates in other European bonds placed in Paris a short time ago. The few
centres firm. The discount rate in Paris is 21A%,both sterling bills drawn against stocks were eagerly abfor spot and bills to arrive. Thursday's statement of sorbed by the increasing demand. Cables have disthe Bank of France showed an increase of nearly played a wider spread, as the sailings of steamers seem
$5,000,000 in gold. Note circulation fell off over uncertain. The market is exceedingly narrow and is
$8,000,000, while general deposits increased close to totally under the influence of speculators. Grain and
$5,000,000. In Berlin the discount rates are 31
/
3% cotton bills or finance bills of any kind have not been
for spot bills, while bills to arrive are not negotiable offered in any quantity.
under 314%. At Brussels the tone has also been
Compared with Friday of last week,sterling exchange
4%. Amsterdam is on Saturday was unchanged for demand, which was
firmer, the rate being 33.1 to 33
firm at 2%%.
quoted at 4 86@4 8605 and cable transfers at 4 8635@
The Bank of England was again allowed to take the 4 8640; sixty days was firmer at 4 8355@4 8365.
£630,000 gold offered in the open market on Monday. On Monday , demand declined to 4 8595@4 86,
As a result, Thursday's report showed an increase of cal* transfers to 4 8625@4 8630 and sixty days to
£849,820 in gold, accompanied by a reduction in loans 4 8350@4 8360. There was an advance on Tuesday
of over £400,000. Both public and other deposits to 4 8605@4 8610 for demand and 4 8635@4 8640
showed moderate increases, while circulation fell off for cable transfers; sixty days remained unchanged.
£44,000. The present position of the Bank is one • Sterling again advanced on Wednesday, on a rise in
of the strongest on record. The proportion of reserve discounts at London, to 4 8610@4 8615 and cable
to liabilities is now 57.12%, against 54.09 last week; transfers to 4 8640@4 8650; sixty days, however, fell
this is the highest percentage thus far this year. The to 4 8345@4 8355. On Thursday, the market ruled
Bank is still maintaining its3% minimum discount rate. steady at practically unchanged figures, the closing
Its bullion holdings now aggregate £40,933,462. Our range being 4 8605@,4 8615 for demand and 4 8640@
special correspondent also furnishes the following 4 8650 for cable transfers; sixty days was slightly
details of the movements into and out of the Bank for firmer at 4 8350@4 8360. On Friday the market held
the Bank week: Imports, £867,000 (of which £33,000 steady, with an advance in cable transfers to 4 8645
from France and £834,000 bought in the open market); @4 8655. The close was a', 4 8360@4 8370 for 60
exports, £16,000, wholly to Belgium, and shipments days, 4 8605@4 8615 for demand and 4 8645@4 8655
of £1,000 net to the interior of Great Britain.
for cables. Commercial on banks was quoted at 4 82
@4 8314 and documents for payment 4 82%@,4 833%.
Interest and discount rates in New York have again Cotton for payment ranged from 4 83 to 4 8314,grain
been easier. The liquidation in the stock market for payment from 4 83M to 4 83%.
has continued, strengthening the monetary position.
Even though the banks are losing on Sub-Treasury
The folowing gives thei week's movement of money
operations, plenty of funds are offered and there are to and from the interior by the New Yo k banks
few bids. The bulk of the inquiry is for 5 and 6
Net Interior
Shipped by
Received by
Week ending Aug. 26 1911.
Movement.
N. Y. Banks. N. Y. Banks.
months, banks asking 33
4% for these maturities.
$3,737,000 Gain $4,272,000
Currency
$8,009,000
More attention is being paid to the character of col- Gold
1,464,000 Gain 1,603,000
3,067,000
lateral. As usual, a decline in stocks involves a re- Total gold and legal tenders
$5,201,000 Gain $5,875,000
$11,076,000
mittance of funds from speculators throughout the
With the Sub-Treasury operations the result is as
interior cities. What stock buying is going on is
follows.
mostly for investment or bank account. The detailed a all
Out of
Net Change in
Into
range at the end of the week is as follows: 23% to 3% bIttitiffieek ending Aug. 26 1911.
Banks.
Bank Holdings.
Banks.
for 60 days, 3 to 331% for 90 days, 314 to 33% for Banks'interior movement as above_ _ $11,076,000 $5,201,000 Gain $5,875,000
23,000,000 Loss $2,500,000
20,500,000
four months and 33' to 33%% for 5 and 6 months. Sub-Treasury operations
531,576,000 $23,201,000 Gain $3,375,000
Total gold and legal tenders
Call money has continued plentiful, ruling most of the
time at 231%. The maximum was 23% and the
The following table indicates the amount of bull- on
minimum 13%%. Commercial paper has been in fair in the principal European banks.
demand, with a meagre supply of well-known names
Aug. 25 1910.
Aug. 24 1911.
--in:ithe hands of brokers; 60 to 90 days' endorsed bills Banks of Gold.
Silver.
Gold.
Silver.
Total.
Total.
--receivable are quoted at 4 to 43% while 4 to 6
X
£
.e
z
E
England__ 40,933,462;
40,933,462
40,329,065
months' single-named bills of the best quality are France__
33,771,560e69,735,400
127,326,240 33,824,340161,151,080
5 14,577,700 55,302 500
:8
08 0
460
264
39,
Germany.. 46,244,750 16,373,250 62,618,000 14
430
50,
:97
32
placed at 44 to 43%%; the bulk of the sales are of Russia
___ 145,062.000, 7,727,000152,789,000 140,970,000 8,468,0Oi 149,438,000
16
5:3
00 3
37
18:0
8 00
12
1:07
Aus.-Hun. 55,788 000 12,385,000 68,173,000 6
,
53
4:0000 44
68
7:13
12
1:0
000
00
bills yielding 432%. Other bills are obtainable at 5%. Spain
____ 16,616,000; 30,978,000 47,594,000
000 3
67
31:4
___ 40,100,000 3,580,000 43,680,000 38
9:7
1:9
67
15
0:9
00
00 42,446,000
Aslong as trade conditions continue in a satet of aphaty, Italy
Netherl ds 11,846,000 1,696,600 13,542,600
181:514732:030000
Nat.Belg._ 6,757,333 3,378,667 10,136,000 5,448,667 2,724,333
little activity is looked for in the money market.
Sweden __ 4,734.000
4,734,000 4,449,000
4,449,000
6,163,000
I 6,163,000
1,974,000
:0
99
57
74,2
060_5
0
—
Total week 504,137,785,109,94557 614,081,142 496,120,772 108,974,493605
1—
Prey. week 501,414,5151109,342,607 610,757,122 493,063,913 108,587,990 601,651,903
Switzerl'd
Norway __
After displaying an easier tendency earlier in the
week sterling exchange strengthened and held firm.
6,508,000
2,222,000
6,508,000
2,222,000
AUG. 26 1911.]
THE CHRONICLE
497
Even its conciliatory move toward 'Austria, after the
Turkish revolution, at which time the influence of
Germany insured the peaceable retention by the
Vienna Government of its new acquisitions in the
Balkans, was brought about through a vigorous threat
against Russia. The incidents of the present year,
whatever basis in right the German Government's
main contention may have had, were equally marked
by what seemed to be a display of diplomatic untactfulness. In their way, they have recalled the very
unfortunate and quite needless manner in which,
during our Spanish war of 1898, things were allowed
to occur which might have seriously imperiled the
"Without endeavoring to prejudge the precise traditional friendliness of the United States for Gerresults, it is believed that the difficulties will find a many. When a policy of this sort is pursued as long
solution. It is, however, true that such a solution and as persistently as it has been in Germany's comwill depend upon two conditions:
munications with France, the time is bound to come
"First, that the rights of France in Morocco be
alternative will be left except outright surrecognized without diminution on the part of Ger- when no
many, and regulated definitely in a manner to avoid render to the extreme pretensions of the Government
pursuing such a policy, or a firm and vigorous reply in
all future complications; and,
"Second, that Germany reduces her territorial de- the nature of an ultimatum.
sires in French Congo, which appear to be manifestly
But there is more than one kind of ultimatum.
excessive."
Sometimes it necessarily means war. That was the
The two salient facts about this Governmental case with Kruger's peremptory demand, in 1899, that
declaration are, first, that it is conveyed in a tone the British troops on the borders of the Transvaal
of somewhat unwonted firmness, and, second, that at "shall be instantly withdrawn." and that all rethe same time it is careful not to shut the door to inforcements arrived in British South Africa during
conciliation and negotiation. On the whole, it is the early months of the year "shall be removed within a
fortunate from every point of view that this firm reasonable time. "It was the case in the collision of
though courteous attitude should be assumed by 1870 between France and Prussia, when Napoleon III.
France. In no other way, it would appear, can this demanded that the Berlin Government, which had
irritating matter possibly be brought to a close.
already withdrawn its support of the candidature of a
From the start the dispute over Morocco has been Hohenzollern prince for the throne of Spain, should
surrounded by exceedingly perplexing considerations in addition promise never to renew it. The Emperor
of public policy. It is hardly possible, even at the of the French may not have meant this as a challange;
present time, to, say whether the virtual yielding by but in the German view the demand was humiliating
France to the German Government's private demands, and insulting, and when Bismarck, ignoring the French
in 1905, that M. Delcasse, the , French Minister of attempts to smooth matters over, had published the
Foreign Affairs, should relinquish his office, was a ultimatum, war was inevitable.
good thing or a bad thing from the standpoint of interNo situation of the sort exists to-day. and the
national relations. It was admitted at the time that M. French Ministry has been scrupulously careful to
Delcasse had proceeded rather openly on a half-avowed prevent such a situation from arising. So far as
program of isolating Germany diplomatically. But, concerns the Morocan csituation in itself, there has
on the other hand, the unusual character of a protest never been, and in no reasonable sense is there ever
by one government against the continuance in office likely to be, any cause or excuse for war. There
of a Cabinet minister in another State was naturally have been, however, two possibilities in the situation
bound to lead, first, to a feeling of deep irritation on which have occasionally lent color to diplomatic
the part of France, next, to a feeling by Germany apprehensions. The German Government might conthat it could safely proceed to considerable limits in ceivably be driven, through force of circumstances, to
the diplomatic hectoring of France. The possible make good its own demands, however rashly those
serious consequences of the first have thus far been demands may have been stated. Or the French
averted by the good sense and self-restraint of Government might be compelled, in self-respect, to
the French Government and people; but it is give out a declaration of such character as would
difficult to deny that the German Government's require either surrender or defiance on the part of
subsequent attitude has been affected by the Germany. The first of these possibilities certainly
second. It is difficult, indeed, in reviewing the inter- has not yet occurred; the German Government has
vening years, to deny that the moves of the German known when to stop, German financial interests have
Government in the Moroccan matter have been most set their faces firmly against too long a step, and the
untactful, not merely as regarded France, but as German people have displayed not the slightest appetite
concerned the other international interests of Germany for war. The second and perhaps more serious
itself. One need only mention the manner in which possibility has been averted by the restraint of the
the diplomatic rebuff, by all the other conferring French people, who, beyond question, have no other
Powers, was invited„by Germany through its attitude wish in the matter than to continue their course of
at the Algeciras conference.
peaceful industry, who are nowadays far removed
The subsequent policy of Germany has been from the atmosphere of "revanche" left over from the
repeatedly on such lines as to expose that Government war of 1870, and who,though they indeed still decorate
to a similar display of unfriendliness by its neighbors. the Strasburg statue with mourning wreaths on the
THE FRENCH DECLARATION.
After several weeks,in which the vexatious Moroccan
question appeared to have passed into the channels
of peaceful negotiation, there has occurred this week,
both in diplomatic circles and on the foreign stock
exchanges,a rather abrupt revival of the previous intimations of strained feeling. They probably originated
from the varying inferences drawn by diplomats and
financiers from the so-called "semi-official note" of the
French Government on Tuesday, which was formally
and unanimously approved by the Cabinet on Friday,
and which read as follows:
498
THE CHRONICLE
14th of July, do so as the observance of an inherited
And perfunctory ceremony.
So far as concerns this week's semi-official note, it
-will be observed that, notwithstanding the ultimatum
in its second paragraph, the final paragraph merely
intimates that Germany is asking too high a price for
waiving the Moroccan question—not that no price whatever will be paid. The tone of this Governmental
statement is perhaps more vigorous than would have
been probable before last month's forcible declarations by the British Ministry to Parliament regarding
that Government's attitude in case of war. But the
note as a whole is far from unconciliatory, and it
points, in all probability, to a new international conference about Morocco.
It must be noted once again that no one but Germany would invite and provoke an international
armed conflict in this matter, and that Germany,
more than any other Government, is aware just what
would be at stake in so grave an undertaking. It is
doubtless conceivable that a Government might do
for the sake of simple military prestige what it would
not be warranted in doing for the matter actually at
issue. But, on the other hand, this very consideration
of military prestige is involved in more ways than one.
An international conflict on the European continent,
between Powers of the first class,would open up problems broader and graver, in all probability, than have
arisen in any such conflict since the Napoleonic wars.
That the German army is in a high state of efficiency
for service, no one doubts. But war itself is not
what it was in 1870. Its cost and its destructiveness
are prodigiously enhanced; even its chances cannot
be wholly measured by the old-time considerations. Its
effect on the industrial life and financial stability of nations engaged in such a collision as that of France and
Germany is quite incalculable. Nor, in view of the farreaching possibilities of the case and .the magnitude of
outside interests which would be involved—financial,
• industrial and political—would it be as simple an affair
to limit the scope and area of international trouble
as it was in 1870, or as it was in such far-away
and economically less important conflicts as our
Spanish War of 1898 or the Russo-Japanese War of
1904.
This is why Germany will hardly press the dispute
over Morocco past the point of conciliatory negotiation. It is also our reason for regarding this week's
French Cabinet note as a forward step towards peaceable solution of the Moroccan question.
GOVERNMENT 1 ERSUS GRAFT.
We are in great danger of destroying the Government in an effort to reform it. Let us qualify this. It
is not the Government that is of itself wrong when
there is great corruption in administration. And in
the supreme effort that is being made everywhere to
correct the evils of management we are near to the
point of forgetting that the Government is not so
much at fault as human nature, and that while we are
endeavoring to correct the lesser evil, the greater is
being done. For if we can do nothing but hammer
away on the idea that a man is more than
money, we are in danger of warping the Government from its true purpose, so that in the end it will
deteriorate.
[VoL. Lxxxxim
. Graft! How much the word enters into the political
economy of the present time. One would believe
that there were no principles of government, only rules
of official conduct. There is a vast difference between
the two. The governmental structure is made with
a view to the general welfare and the common good,
and it guards property rights and the ownership of
property with the same solicitude it does the human
rights, the civic rights, of the man; for it is by means
of the ownership of property that the man may have
his rightful power among his fellows. And because
there is a debauching of the founts of legislation, this
is no sign that there is no good in the form of the
government.
We are swinging away from our moorings. It is
time to consider. What is to be expected when the
last rascal is driven from office? Simply the proper
enforcement of the existent laws. What is to be expected when the administration of the corporation is
done with a righteous hand? Simply that the natural
laws of business will command the way. There will
not, because of this, be a millenium of ownership and
equality. Not by any means. We are reforming all
the time, and yet we are not changing the structure of
our government. If there is to be a common ownership of the public utilities, then it is incumbent on tis
as a people to go over into Socialism and change the
whole governmental structure. What is involved?
Not only the right of the corporation, but the very
autonomy of the State and national governments.
The government is not responsible for the thieves
who are in office. This fabric which has been devised
for the guidance of men in their community living is
not of and in itself responsible for the bribery of men
who are elected to hold office. The responsibility lies
not on the government but on the yoter. Then why
take the trouble to change the form without changing
the men?
Take the matter of the so-called corporate rule of
the country. It is not necessary to go into details
to show to a man of ordinary intelligence that it is
not the corporate form, as a mere skeleton representative of business, that is responsible for the oppression
of trade, if there be any. It is not the corporation
per se that controls trade. For it is nothing more
than an artificial person with limited liability and
perpetual life, and could a natural person with these
qualities, because of them, alone control trade and
operate, as it is said the corporation does,in restraint
of trade? By no means. Then we must fall back on
the real cause of trouble, if there be any very grave
trouble, and this lies in the administration.
How little more graft has to do with the basic
principles of government. One says with much iteration
that to poison the founts of law-making is to destroy
the liberties of the people. Well and good. But the
people are still supreme, and if they do their duty they
will repeal any law which is not for the common good.
The truth is that too many laws fall short of being for
the c.ommon or general good, and are in fact special
and private. If it were not for this,there would be far
fewer laws on the statute books of the State or nation.
But one thing remains, and that is that no law will
overturn the fundamental laws which lie in the nature
of things. Mind against soil, and what else is there to
wealth getting? Here is the first and the last arbiter.
And the very fabric of civilization is woven of the out-
..1.uu. 26 1911.]
THE CHRONICLE
499
come of this primal law. Production, distribution
THE LINK BETWEEN RATES AND WAGES.
and consumption, and the man always working with
The week has brought news of an unusual number
unwearied intellect in these walls of time for love's
sake, and through his own love to that larger general of reductions in the force of railway employees. The
benefit which ensues to all. What has mere graft, Harriman roads, and the Union and Southern Pacific
stealing from the coffers of the State, selling a vote to in particular, have laid off several thousand men, and
some interest; what has this to do with the structure numerous other roads are also cutting down wherever
of government that is builded in the midst of affairs possible without saying much about it. Many
that consist of man and nature in the way we have systems indeed have been practicing retrenchment for
a long time, as is evident from the shrinkage in the
described?
Men seek law for their own benefit, and it is here that maintenance outlays so generally disclosed in the
the great fault lies, not in the corporation but in the monthly returns of earnings. The roads that are
law that is made, perchance,to control the corporation, now becoming prominent in that respect are those.
but which it uses as a cloak to drive others out of its where the managers had been hesitating about inaugurating a rigid retrenchment policy, hoping against
way.
But the fault of our present condition is that we hope that the step might in some way be avoided.
are making a means of political advancement of men But with nothing in sight to ensure relief, they too
and of parties out of this cry of reform. If we can but are yielding to the force of circumstances.
This means the deferring of whatever work can be
do away with bribery, we will have that source of law
which is our salvation pure and undefiled, it is argued. deferred and the lopping-off of such men as can
Yet all the laws that men may make will not bring the be spared. How far this process will go is still
millenium. On the other hand, if man in his conduct uncertain, but it is incomprehensible that any sane
as a manager of a corporation will but practice even man should be surprised at a policy which is the
the simple precepts of the Golden Rule, he will do for dictate of stern necessity. It is universally expected
mankind as much as it is possible for aggregated cap- that a railroad shall pay for its materials and services;
ital to do under any other circumstances—as much, it is expected to meet the interest on its bonds, and is
forsooth, as capital could do for man if it were owned still permitted to pay something in dividends; nobody
wants the roads to become bankrupt, and probably
and operated by government itself.
come,
not even the cart-tail orator would deny (after he
Not that there would ever come, or can ever
who
came down from the cart and resumed talking, accorda dream of equality such as is entertained by men
freedom
ing
to the practical standard of things) that railroad
talk collectivism. But there would be that
law
prime
insolvency
would be a public calamity of intolerable
of trade that would put into operation the
the
severity.
or
number,
•of the greatest good to the greatest
Yet, while nobody wants the roads starved, the
,greatest good to the most men at the least cost of
of denying them financial sustenance goes on
process
holier
higher,
no
is
there
this
Than
human labor.
same. A press dispatch from Chicago
the
just
progress
of
law
divine
the
is
It
law.
powerful
,or more
ago quoted some unnamed person high
weeks
several
thus
road
rough
the
along
mankind
that has brought
in
the
of the American Federation of Labor
councils
conwill
it
And
the
light and liberty of to-day.
far to
as
up
situation thus:
summing
the
time.
tinue its operation till the end of
you
as
elements,
or
Here are two diverse tendencies
The railroads are sore, and justly so, at the manner
please—government and graft; and yet they are made they were tricked into granting wage advances last
to converge in the public mind. Eradicate all the year under promise of increased rates, when, as a
graft in the world and it will not cure the evils of popu- matter of fact, they have had nothing but decreased
rates ever since. It is patent to every well-posted
lar government. Change all the forms of government railroad man that either rates must go up or wages
known without changing the human nature, and greed must come down. So-called scientific management
and graft will have their influence in human affairs. and efficiency cannot overcome the steadily decreasing
sSo that we are continually being misled in politics by margin of profit that the roads are able to make under
present conditions.
these fatuous cries.
It is time to stop and consider. It is time to take
If the roads had no specific promise of leave to
the campaign cry for what it is worth. It is a flaming increase rates, they certainly had a just expectation
banner, a shibboleth, and not a governmental prin- to that effect; the unfavorable conditions were known,
iciple. It is not a guide, but a signpost. It is not a but how relief was denied them is on record. This
help, but a hindrance. And it adds confusion to the labor representative states the situation fairly, and
.mind of the voter and to the thought of the citizen the railroad employees have the sense to see and
when it is made the rallying point of a campaign. admit that their own wages must in the long run
Government will always have a part of graft to clutch depend upon the ability of the roads to pay; yet this
at its vitals. But if there is virtue in the people, same man becomes inconsistent, as most others are
there will be virtue in the government. And the time when they reach their own personal cases, for he
will never come when graft will rule. To say that a immediately adds that the classes represented by the
Jaw that serves one at the expense of another is graft Federation have received only a pittance of the
may be true, but it is the law and not the so-called advances granted to engineers, conductors and traingraft that ought to be changed. It is not enough to men, and so they (the Federationists) "will resist any
talk of taking away this special enactment. There attempt to lower their wages, either by direct cut or
must be that spirit of good-will in trade that will cause by sweating under the guise of scientific managemen to study the best there is and do it for their fel- ment."
But it is vain to argue questions with the rules of
lows ere there will come a time when equality will bearithmetic. A railroad must get before it can pay,
gin its reign.
500
THE CHRONICLE
[VoL.
and it can pay only in proportion to its getting. ted a plan which contemplates the establishment of
It must have some profit on its work, or fail, and a central bureau in this city where all through bills of
when prices rise against it, it must readjust its own lading for cotton shall be verified as to their genuineto correspond, or fail; in this respect it is precisely ness.
as helpless to escape as is the humblest trader. Saying
This plan, unfortunately, has aroused the hostility
this is like saying over and over that twice two can of Southern interests, the protests of which have been
never be anything more or less than four: everybody voiced in no uncertain tones by the New Orleans Cotadmits it, yet the trend as respects railroads is as if it ton Exchange and by the New Orleans Clearing House
were not true. The public do not want a strike, Association,following the report of a special committee
because that is always an inconvenience. Trains that conferred on the subject with Charles Sherman
must run, because the public interests must not suffer; Haight in New Orleans Aug. 12. At this conference,
how this shall be accomplished, and how the roads Mr. Haight informed the Southern bankers and cotton
. shall get along with the men, are not recognized as of men that the Liverpool Cotton Bill of Lading Conferpublic interest—let the roads settle their own troubles. ence Committee, which he represented, and the Sub• The public view with indifference if not with a half Bill-of-Lading Committee of the American Bankers'
sympathy all demands for higher pay, and do not Association, had agreed to put the plan into operation
object to the strike until the inconvenience begins; but regardless of the attitude of the interests in the South,
there is scant sympathy for the roads in any case. and that a letter was being printed in seventeen difWe seem to have settled upon "three propositions as ferent languages, to be issued to cotton importers and
passed beyond discussion; that a glass of beer and a foreign bankers all over the world, requesting cotton
trolley fare shall remain five cents and that fares and buyers to ask their American sellers of cotton to comfreights on railroads are not to be raised.
ply with the plan and American exchange buyers to
The employee favors an increase of rates, because have all their documents approved as to their genuof its direct relation to wage-paying ability. The ineness through the central bureau in New York.
commuter asks no questions, takes no trouble of
In answer to a cablegram from the New Orleans
analysis, but doggedly insists that his particular Cotton Exchange, protesting against this plan as cumschedule shall stay unraised, whatever happens, and bersome and impracticable, the President of the Liverhe alleges a vested right for himself which he does pool Cotton Association cabled that no change could
not concede to the road also. The general consumer be made in the agreement that had been reached after
thinks that transportation may be one factor in the much deliberation, and that shippers would be inincreased burdens of living, yet he seems to make structed to sell their exchange only to banks that were
no protest against an advance in freight rates. The willing to conform to the provisions of the plan.
protest comes from the shipper, who seems quite
It now appears from the statements of members of
blind to the negligible proportion which the increases the sub-committee of the American Bankers' Associaasked-for would bear to commodity prices and to the tion, which has been negotiating with the Liverpool
certainty that he would only bear in them his own committee, that the central bureau plan was not agreed
share as a consumer. The Inter-State Commission to; that, while the proposition was considered, assent
deems itself prosecutor rather than judge, and not was never given to it, and that the American Bankers'
only denies the petition for bread, but follows the Association as an organization has nothing whatever
denial by a stone.
to do with it. The negotiations carried on by the
This is a portion of what goes on under the absurd sub-committee of the American Bankers' Association
assumption that corporations (especially common merely pertained, it has recently been stated, to rules
carriers) are a distinct and rather foreign interest for the issuance of bills of lading and their validation
and the "people" are another, and under the desire by the railroads.
to give to the "people" whatever they clamor for or
At the present time the various cotton-carrying
are believed to "want." If they want the moon, railroads have an authorized agent and a validating
as the younger children sometimes do, they must agent at each compress from which through bills of
have it, for the sake of peace and tenure of office. lading are issued. More care than heretofore is being
The country is in the broad experiment of having the exercised in the handling of negotiable bills of lading,
prices of everything which is said to be "affected" and the entire exports of cotton from the South were
with a public service or indispensable to public exist- handled in this manner last season without any trouble
ence determined by a political commission, according or loss. The new plan proposes that a copy of the bill
to the demands of buyers,and with no visible regard to of lading shall be sent to the central office in this city,
the seller, who is left to swim for himself, though he and that each exchange buyer shall verify his docube denied water to swim in.
ment.
It comes back to this: the laws of arithmetic are
American bankers who have thoroughly studied the
irrepealable and unalterable, and no statute or public cotton-bill-of-lading question are, with a few exceppolicy can safely defy them.
tions, inclined to the opinion that the validation certificate on through bills of lading is sufficient protecCOTTON BILLS OF LADING.
tion to foreign interests until the liability of railroad
The question of safeguarding cotton bills of lading, companies for genuine bills of lading issued by their
growing out of the Knight-Yancey and the Steele- agents can be fixed by an Act of Congress.
Miller failures last year, has recently arisen in a
In voicing objections to the foreign plan of safenew form. The Liverpool Cotton Bill of Lading Con- guarding bills of lading, Southern interests call attenference Committee, representing the Liverpool Cotton tion particularly to the fact that it is not proposed to
Association and the banking interests of Europe, after put any such plan into operation as applying to any
many months of study and investigation, has submit- other commodity than cotton for export, and that nc)
AUG. 26 1911.]
THE CHRONICLE
501
representing all departments of the Government and
also all the various parts of the German Empire.
We are not so much interested in the answers to this
particular question, nor to the answers to the various
other questions (which are covered in the previous
volume of translations issued by the National Monetary
Commission) as we are in the general remarks that
came from these German savants on the whole subject
of economics in its relation to German affairs.
There are not lacking in Germany critics of the kind
of which we have many in this country, who affect
to believe that the accumulation of wealth and the
growth in number of rich people is an unfavorable
sign and involves detriment to the country. As the
Commission had a political element in it, this inquiry
afforded to them an opportunity to air their views.
Germans, however, are not apt to be misled .by
sophistries of this kind, since it is yet within the
memory of so many of them what the opposite condition, namely national poverty, and the absence of
any very extended private possessions of wealth,
means. Germany is experiencing financial and industrial expansion only second to that enjoyed by the
United States; but her growth and development has
been confined almost entirely to the last twenty-five
or thirty years. Up to the time of the Franco-German
War in 1870, which created a united Germany, the
different German States were among the poorest in
Europe. Even after the peace treaty of 1870 the
Germans made comparatively little progress for a
number of years, the large indemnity received from
France on the conclusion of the War being more in the
nature of a detriment than an advantage, since it led
to the neglect for the time being of those habits of
economy and thrift for which the Germans are so
THE GERMAN ATTITUDE TOWARDS WEALTH famed.
During the last generation, however, the Germans
AND TRUSTS.
One of the useful things done by the National have moved steadily ahead. With characteristic
Monetary Commission is the issuance of a translation energy they have devoted themselves,in all-absorbing
of the proceedings of what is known as the German fashion, to industrial advancement. As a result,
Bank Inquiry of 1908-09, making two quite bulky Germany to-day is a rich and powerful nation. Very
volumes which have lately come to hand. Germany naturally, co-incident with the country's industrial
suffered from financial and business depression in advance there has been a corresponding accumulation
1907 and 1908, just as did the United States, and this of wealth,and now rich people are numerousin Germany,
bank inquiry was conducted with a view to ascertaining just as they are in other progressive countries. In
whether legislation could prevent a repetition of the the estimation of all clear-thinking persons that is an
experiences then encountered or provide for the better occasion for rejoicing rather than the reverse. The
working of its banking system. There was a good fact, too,is generally recognized in Germany, since,as
deal of criticism in Germany of the condition of things already said,the country's experience with the opposite
then disclosed, just as there has been here, and it condition is too recent to have passed out of mind.
These observations are suggested by the remarks
illustrates the methodical ways pursued by the
Germans that they at once began a careful inquiry of one of the witnesses, a member of the Commission,
and investigation instead of rushing into legislation who dealt with this very point. We have reference
without waiting to see if there was anything that to the testimony of Dr. Jakob Riesser, Geheimer
legislation could really do which would not be Justizrat, Honorary Professor in the University of
of Berlin. Dr. Riesser was answering the criticisms
more harmful than beneficial.
Volume II of the stenographic report of this German of another witness who had laid stress on the great
bank inquiry deals entirely with Question VI, which contrasts, the social contrasts, between the rich and
was: "Does it seem warranted in the public interest the poor, which were being witnessed in Germany.
(and upon what grounds) to take care, by way of Dr. Riesser said that no one could regret these conlegislation, of the security and fluidity of the invest- trasts more than he did. He believed, however, that
ment of deposits and savings? What measures to this they were inevitable under any economic system.
end should be taken under consideration and what He thought the one essential thing was that the
effects might be expected from them ?" On this millionaires should be made concious of their duties
question the opinion of experts was obtained, and the and imbued with the feeling that they have not merely
members of the Commission also discussed it among social privileges but also social obligations. He then
themselves. The Commission was made up of men went on to say—and this is particularly what we wish
such plan is in vogue in any other commercial country.
Stronger still is the objection that the operation of the
plan would influence foreign buyers to deal indiscriminately, as they have done in the past, with sellers
doing business in the South, regardless of their past
business record, standing and capital, relying entirely
upon their ability to have documents verified before
acceptance, thereby encouraging, more or less, unhealthy competition in the cotton trade, particularly in
view of the fact that no safeguard is provided against
losses that may be sustained from overweighing, overtaring, grading and stapling.
The strongest objection of all, however, and one
that American banking interests are asked carefully
to consider, is that in which it is urged that the plan, if
adopted, may place upon American bankers buying
foreign exchange certain responsibilities which cannot
now be defined arising from a possible lack of diligence
in having bills of lading promptly verified, and which,
in acceptance of bills against a forged bill of lading,
might lead to litigation and contention. Some contend that the plan submitted by the foreign interests
is in reality a guaranty scheme which conservative
banking interests of this country frowned upon when
the question was first broached in this shape.
With a view of opposing the new plan, which is to
become effective Sept. 1, a conference of Southern
cotton exchanges, bankers and exporters will be
held in New Orleans during the week of the meeting
of the American Bankers' Association, about Nov. 20.
Doubtless some plan of action satisfactory to American
cotton interests will then be agreed upon. In its
broader aspects the cotton-bill-of-lading question involves important economic considerations.
502
THE CHRONICLE
to quote—that the fact that Germany now.:possesses
millionaires was reason for congratulation, inasmuch
as it put the country in such a vastly different position
from that which it had occupied not so very long ago.
Here are his words:
Having postulated this much, I must say-that I
consider it an extraordinary gain that we have progressed so far by means of the labor of our hands, by
our productive toil, and that at last we have rich
people in Germany too, while formerly the world at
large had such a poor opinion of us because it could
say that we are not strong enough financially to
withstand even a small campaign carried on against
us. And who is it after all, gentlemen, who is going
to subscribe to our loans? It is those who are fortunate enough to be in possession of adequate means.
The mass of the people are not going to take up these
loans in case of war. Let us therefore not weaken
these wealthy people by means of shortsighted measures, else in times of trouble we should in vain be
wishing we could draw out from their graves the very
millionaires whom we have suppressed by such legislation
Lxx.xxiii.
the predecessors of the present managers; and just
as their predecessors found capable successors who
have furthered the work begun by them,it may be
assumed that the present managers will in their turn
find and attract successors who shall know how to
continue their activity in a salutary way. At all
events no legislation would be capable of securing
qualified people, he observes, while to limit by legislation the activity of a management which is regarded
as efficient at the present time, and confine it within
rules, would be both perverse and futile. Financial
conditions, he pointed out, are affected to a most farreaching extent by every incident in the economic
concerns,not of Germany alone but of the world at
large, and their treatment requires the utmost freedom
of motion.
As to the fear of ill results from the concentration of
control,Dr. Wachler could not perceive how scientific
men who have gained a correct insight into economic
conditions,and are able to compare the present with
the past, could share in such a feeling. He stated that
it was barely two decades since there had been witnessed in Germany a strong movement of concentration in the economic sphere—industrial as well as
financial. What has been accomplished in this brief
space of time as a result of that movement he sets
out as follows:
Here we have recognition of the advantage it is to a
country to have men of wealth,and no nation onthe globe
is in position to speak with greater authority on that
point than Germany—for the reason already mentioned. But where wealth accumulates in the hands
of a few it is also sure to accumulate in the hands of
the masses. The very conditions that permit the
Just consider the development of our trade, our
growth of the millionaires also furnish the opportunity for the laying up of little stores of wealth on commercial relations with all the leading countries of
world; cast a glance at the progress of our shipthe part of the humbler classes of the population, the
building, our mining, our electrical industry; lately,
which stores make an enormous sum in the aggregate. too, the utilizing of water power; and recognize from
Dr. Riesser pointed out that the savings of people of this what vast demands have been thereby made upon
small means in Germany amount at present to 14 or our iron industries and machine shops in order to pro15 billion marks. In Prussia, he says, the deposits duce the magnificent machinery and other elements
that have been necessary.
in the savings institutions more than quintupled of industry and business, inIn all other departments
building, in municipal
between 1882 and 1907. Therefore, he added: "In life—elevated and underground railways, colonizaplace of a dismal picture of plutocratic Germany which tion, canalization, &c.—conditions have changed in
is beginning to groan under the number of its mil- every way on so grand a scale that it should be no
lionaires, I want to set before you the inviting picture matter of surprise to any one if in industry and in the
domain of finance
considerable concentration has
of a sound, vigorous and progressive Germany, the been developed. I aregard
it as an inevitable neceslowest stratum of whose population has fortunately sity, and I look upon it as a piece of good fortune for
been in a position to lay aside 14 billion marks of its our country,that far-seeing men were quickly enough
found who recognized the needs of our day in good
hard-earned money."
But our object to-day was more particularly to time and acted in accordance with them. No one, I
should think, can doubt that if our industrial and finanrefer to the testimony and expressions of opinion of cial world
were still in their dwarfed condition of about
another member of the Commission who touched fifty years ago, they could not do justice to the demands
at length upon the question of monetary and industrial of to-day, and that if we had maintained the old and more
concentration. It will be recalled that our legis- patriarchal point of view, we could not have advanced
lators at Washington have recently been expressing to our present political development either.
Nobody, it may be presumed, will wish to dispute
fears and solicitude with reference to an alleged con- this.
But now come the anxious, and the omniscient,
centration of banking power here in the United States. who perceive in this development excrescences and
The observations,therefore,of this eminent German as abuses for the future, and think, therefore, that they
to the possible interference with proper economic can, by way of precaution, establish by legislative
development from such a state of things are decidedly means regulations which will guard us against • such
interesting and instructive. The person we refer to dangers. That is a mistaken idea. It is precisely
economic development—which, along with the everwas Dr. Paul Wachler, Ober-Bergrat, retired, mem- changing views and necessities of life,is in.a constant
ber of the Herrenhaus, Berlin-Charlottenburg. One state of flux—that can least suffer legislative regulacriticism on the other side with reference to the con- tion; it can be regulated only by the sound sense percentration of bank control seems to be very similar vading our social and national life, not by legal parato that heard on this side, namely that while confi- graphs, which can have only a detrimental and obstructive effect, and cannot possibly serve
dence can be placed in the existing managers there is end. I would refer to the trusts and any useful
syndicates.
no assurance that their successors will be equally In that field, too, many politicians perceived the
capable and competent and free from ulterior motive. danger of abuse and wanted to anticipate it by legisDr. Wachler urges that the development of the Ger- lation and Government control. A decade has elapsed
man banking system has for many decades been most since measures considered appropriate were discussed, and finally, further development was left, after
admirable. This development the system owes to all, to run a free course.
The dangers apprehended
AUG. 261911.]
THE CHRONICLE
not only did not materialize, but the National Government and many business interests are resorting to
every means to secure for the potash industry th continuance of a syndicate. In the domain of financial
management, too, then, matters may be calmly left
to develop themselves, and people will become convinced that the concentration now objected to will
continue to progress in a wholesome way and prove
useful to our economic life.
503
ance in world politics. The German bourses have
evidently lost in international influence since the
enactment of the bourse legislation. In spite of the
greatest efforts on the part of the bourse, of industry
and commerce they have certainly not gained ground
' business. That iS a great loss to the
in international
political power of Germany. The advantages gained
and the peaceful victories achieved by means of our
industry and commerce are the best foundation and
greatest aid to the extension of our political power;
even more effective, perhaps, than the increase of the
army and navy. But it is precisely in international
business that commerce and industry require the support of the German banks and exchanges. It is
therefore exceedingly hazardous to adopt measures
that would in any way interfere with the free activity
of our financial and banking world.
It will be observed that this careful student very
emphatically declares that the dangers apprehended
from trusts and from industrial and financial concentration have proved entirely groundless. Dr. Wachler
also thought it very inconsistent that in a country in
which everybody is regarded as politically mature,
an ever-extending tutelage is sought to be spread over
There is much of educational value to us in the
the economic field, ostensibly for the protection of the
It is evident that Germany, with its rapid
foregoing.
inexperienced public. Government supervision would
much the same problems to contend with
has
growth,
not really look after the inexperienced public at all,
States. It is evident, too, that from
United
as
the
but only the institutions themselves, which are able to
motives the same heretical suggesother
and
political
conduct their own affairs, which as a matter of fact it
there as here, and Government
being
made
are
tions
would prove incapable of watching over or safeguardGovernment
supervision are being urged
and
regulation
ing, and which are, indeed, in no need of guardianship.
normal
course
of trade. As competent
the
check
to
The alleged inexperienced and unprotected public ,
thus
is
declaring
so emphatically
Germany
opinion
in
will, in spite of such supervision, he asserts with
and
financial
transactions,
so
trade
fettering
against
much force, dispose of their money as they like,
also
to
set
our
face
against
ought
we
in
this
country
and lose, too, under certain circumstances. What a
world of truth there is in this statement and how placing industrial and financial affairs in a sort of
clearly it is applicable to the United States as well as straight-jacket through ill-advised legislation.
to Germany. We commend it to the consideration
COTTON MANUFACTURING IN JAPAN.
of President Taft's Security Commission, which has
Japan's cotton-manufacturing industry continues
been asked to determine whether the Government
should not regulate the output of railroad stocks and to expand notwithstanding the high cost of the raw
material, which has latterly served as a check upon
bonds in the interest of a too confiding public.
The supervision, Dr. Wachler went on to say, would development in most other countries, and notably in
exert an injurious effect upon the banks, crippling the United States. Not only in spinning capacity,
them, perhaps, by interposing in their operations at but in the volume of consumption of the raw material,
the wrong time; and it would exert an injurious effect the returns now at hand (through the courtesy of
upon the public by lulling them into a sense of security 0. Shoji, Secretary of the Japan Cotton Spinners'
and misleading them, by reliance upon the super- Association) for the year ended June 30 1911, indicate
vision, to neglect examining things themselves. In- a further expansion which, though moderate, cannot
stead, therefore, of having an education value in the fail under existing conditions to be considered very
direction of making the public more self-reliant, such encouraging. It seems but yesterday that Japan was
a scheme would promote and maintain their depend- a negligible quantity in cotton-manufacturing affairs;
ence. It seems strange to this student of affairs that now it ranks next to India in the industry and requires
the spirit of the time should demand every possible more cotton to meet its consumptive requirements
kind of Government supervision, thereby extending; than did our Southern mills only fourteen years ago.
the administrative apparatus and strengthening for- And the position it now occupies has been attained in
malism and bureaucracy, while, coincidently, it is the brief period of about twenty years.
In fact, it was not until 1890 that the cotton-manudeclared to be an urgent necessity to make Governfacturing industry was fairly launched in Japan. It is
ment administration simpler and less expensive.
We have room for only one other extract. In this true, of course, that a mill was built at Isogaama in
Dr. Wachler sets out the advantages which Germany 1863, a second factory was erected at Sakai in 1870
has gained as a result of freedom from legislative and still another at Kashima in 1875. Furthermore,in
restrictions and in letting business develop according 1878, the Government started several mills of 2,000
to the laws of trade:
spindles each, and in 1882 the Osaka Spinning Co.
Undoubtedly during the period of business freedom was organized. Still it was not until 1887 that the
a very great advance has taken place in every depart- first power-loom was started at Osaka. Since the
ment of our economic life. This economic develop- industry, however, attained a fair start progress has
ment is steadily manifested in, a lively activity and on the whole been very satisfactory. In the first
assumes the most varied and frequently changing
forms, so that it will always be difficult for legislative year for which we have reliable data (1890-91) conaction to follow this brisk evolution without retarding sumption of the raw material reached 99,000 bales
it by rigid forms. Legislation in the economic field of 500 lbs. average net weight each, increasing to
requires, besides, in an especial degree, along with a, 362,856 bales in 1895-96, the number of spindles
delicate and just appreciation of all economic require- operated at that time having been 580,945. Five
ments, the greatest impartiality and freedom from
political agitation. The bourse legislation has un- years later—in 1900-01—capacity had advanced to
doubtedly ''been injurious to German economic life. 1,250,000 spindles, with consumption 631,728 bales,
Economic questions are to-day of the greatest import- and in 1905-06 the figures were,respectively,1,450,949
504
THE CHRONICLE
spindles and 873,576 bales, with a further augmentation
to 1,483,497 spindles and 906,805 bales in 1906-07.
The next two years witnessed expansion of spinning
capacity of the mills, but, as a result of depression in
the country, demand for goods fell off and consumption
yof cotton declined to 880,830 bales. The falling off
was, of course, comparatively slight—only 2%%—
but in the meantime spindles had been increased to
1,843,598, or 24.3%. In 1909-10, on the other hand,
'with conditions more favorable, the augmentation in
-consumption was nearly 20%—to 1,055,303 bales—
against an addition to capacity of only 89%, the
establishments then containing 2,004,968 spindles.
This brings us down to the latest year-1910-11—
the activity in which fitly supplements that of 1909-10.
The information now at hand shows that within the
year there has been an addition of 94,798 spindles,
making the total capacity of the mills 2,099,764
spindles on June 30 1911 and that consumption records
a further addition of 32,881 bales of 500 pounds each,
being reported at 1,087,184 bales for 1910-11. This
result, moreover, has been accomplished with a smaller
force of operatives, the number employed in 1910-11
being reported as only 92,960, against 94,799 in
1909-10.
As regards the sources from which Japan drew
her supply of the raw material the past season, an
important decline in the takings of the American
staple is to be. noted, consequent upon high prices
therefor, and a relatively large increase in the absorption of East India and Chinese varieties. Consumption of American cotton in fact was only 693'
million pounds, or less than in any year since 1903-04,
and comparing with 125 1-3 million pounds in 1906-07.
On the other hand,372% million pounds of East Indian
cotton were used in 1910-11 and only 175 millions in
1904-05. The amount of yarn produced in 1910-11,
at 445,912,200 pounds, was but4 million pounds greater
than in the-previous year, but the output of piece goods
reached 226,313,958 yards, against only 196,728,208
yards.
That, concurrent with the extension of the manufacturing industry, Japan's outward trade in cotton
goods is expanding, is amply demonstrated by its
foreign trade- returns. In cotton yarns this is particularly noticeable, the total shipments for the
calendar year 1910, at a value of 45,347,664 yen (a yen
is equal to about 50 cents United States currency),
having exceeded those for 1909 by 13,725,651 yen,
or 43.4%. Furthermore, for the like period there
was an increase of 5,572,006 yen, or over 40%, in the
value of other cotton goods sent out. Naturally,
also, imports of cotton goods into Japan have fallen
• off decidedly of late years. This is especially true of
yarns, the inflow of which into the country covered
a value of only 417,277 yen in 1910, against 1,068,188
yen in 1909 and as much as 1134 million yen in 1896.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO'S.
—The public sales of bank stooks this week aggregate 125
shares, of which 75 shares were sold at the Stock Exchange
and 50 shares at auction. A sale at auction of 20 shares of
Pacific Bank stock at 2783/
2 was the first public sale of the
.stock since March 1910, the price then paid having been 235.
Shares. BANKS—New York. Low. High. Close.
30 America, Bank of
_ _ ___ 602 X 602k 602 X
*25 Commerce, Nat. Bank of...._ 202
205
202
050 Fourth National Bank
205
205
205
20 Pacific Bank
2783427834 27854
TRUST COMPANY—New York.
51 Farmers' Loan ec Trust Co_ _1906 X 190634 1406 X
!Sold at the Stock Exchange.
Last previous sale.
Feb. 1911— 805
Aug. 1911— 205
Aug. 1911— 205
Mch. 1910— 235
April 1911— 1540
[VoL. Lx=cm.
—Congress concluded its extra session this week, having
adjourned on Tuesday. The work accomplished included
the enactment of the Canadian Reciprocity Bill, which was
the principal purpose for which it had been convened; also
the enactment of the second Statehood Bill (the first having
been vetoed), the Campaign Publicity Bill and the Bill reapportioning the membership of the House. The following
measures were passed by the two Houses of Congress, but
vetoed by the President: the bill reducing the tariff on wool,
the so-called Farmers' Free List Bill,and the bill revising the
cotton goods schedule. The resolution providing for the
direct election of Senators still remains in conference.
—The cotton tariff revision bill, with all the Senate
amendments, including revisions of the steel and iron
schedule and the chemical schedule, passed the House on
Monday by a vote of 180 to 107 but, as in the case of the
wool and Free List bills, the President vetoed the measure.
His message in the case of the cotton bill was sent to the
House on Tuesday the 22nd. No attempt was made to
override the veto, Representative Underwood pointing out
the apparent lack among the Democrats of the necessary
two-thirds vote to pass it over the veto. The bill was
accordingly referred to the Ways and Means Committee.
When the bill was taken up in the House, Representative
Underwood asked that unanimous consent for its immediate
consideration be given, with debate limited to four hours.
This was objected to by Representative Anderson, who
demanded a separate vote on each of the iron, steel and
chemical amendments. The Rules Committee was called in
and after a hurried meeting brought in a rule providing for
an immediate consideration of the bill, and precluding
amendments. This rule was adopted by a vote of 143 to 107.
President Taft in his veto message stated as the ground for
his objection to the cotton schedule that it was adopted
without any investigation or information of a satisfactory
character as to the effect it would have upon the cotton
industry. The President declared that the haste in the
preparation of the bill was apparent in many of its pages
and added that the "empirical and haphazard character of
this bill is shown more clearly perhaps in the amendment to
Schedule A than in any other." This schedule relates to
the duties on chemicals, oils and paints. After calling
attention to a number of increases in the chemical schedule
which the proposed bill would bring about, the President
showed some of its further objectionable features in the
following remarks:
But the most remarkable feature of this amendment to the chemical
schedule remains to be stated. The internal revenues of this country, to the
extent of $160,000,000, are dependent on the imposition of a tax of $1 20
a gallon on distilled spirits. . . . It has been necessary in all customs
legislation to protect the internal revenue system against the introduction
from foreign countries of alcohol in any form and in association with any
other article, except upon the payment of such a customs duty as shall
make it unprofitable to import the alcohol into this country to be used in
competition with alcohol or distilled spirits of domestic manufacture. . .
Under the present bill all these precautions against the undue introduction of foreign alcohol in articles and compounds included in the chemical
schedule are in fact abolished by striking out the specific duties a pound. .
I need hardly dwell on the disastrous effect such an amendment in
reference to alcoholic compounds would have upon the Internal revenue
system of taxing distilled spirits, nor need I point out the opportunities of
evasion and fraud thus presented. Of course, the change was not Intended.
but if this bill became law, it would be made.
This bill thus illustrates and enforces the views which I have already expressed in vetoing the wool bill and the so-called Free List bill, as to the
paramount importance of securing, through the investigation and reports
of the Tariff Board, a definite and certain basis of ascertained fact for the
consideration of tariff laws. When the reports of the Tariff Board upon
these schedules are received, the duties which should be imposed can be
determined upon justly and with intelligent appreciation of the effect that
they will have, both upon industry and upon revenue.
—The bill fixing the date for the termination of the life
of the National Monetary Commission was signed by President Taft on the 22nd inst. Last week we noted that, as
adopted by the Senate on the 14th inst., the bill directed the
Commission to make its report not later than Jan. 8 1912,
and stipulated that the life of the Commission should expire
on the same date. Subsequently, however, a material change
was made in the bill. The measure was amended by the
House Banking and Currency Committee, the House on the
19th inst. accepting it in the form in which it came from its
committee, and the Senate agreeing to the House amendments on the 21st inst. In its final shape the bill retains
Jan. 8 1912 as the date within which the report of the
Commission is to be filed, but changes the time for the
dissolution of the Commission from Jan. 8 to March 31 1912.
It was explained during the proceedings in the House that it
was desired to permit the Commission to retain a legal
existence until March 31 because there might be necessity,
after the presentation of its full and complete report in
AUG. 26 1911.]
THE CHRONICLE
January, to take up some matter which Congress might
refer to it. All salaries, however, cease on the date on which
the report is called for. The bill, as enacted into law, is
as follows:
An Act to require the National Monetary Commission to make final report
on or before Jan. 8 1912, and to repeal Sections 17, 18 and 19 of the Act
entitled,"An Act to amend the National Banking Laws," approved May 30
1908, the repeal to take effect March 31 1912.
Be it enacted by the Senate and House of Representatives of the United
States of America, in Congress assembled, That the National Monetary Commission, authorized by Sections 17, 18 and 19 of an Act entitled "An Act
to amend the National Banking Laws," approved May 30 1908, is hereby directed to make and file a full and comprehensive report on all subjects referred to it under the provisions of the aforesaid Act on or before the 8th
day of January, 1912.
Sec. 2. That Sections 17, 18 and 19 of an Act entitled,"An Act to amend
the National Banking Laws," approved May 30 1908, be, and the same arhereby, repealed; the provisions of this section to take effect and be in force
on and after the 31st day of March 1912, unless otherwise provided by
Act of Congress.
See. 3. That the first paragraph under the subject "Legislative," on
page 28 of an Act (Public, No. 327, H. R. 28376, Sixtieth Congress, second
session), entitled, "An Act making appropriations to supply deficiencies in
the appropriations for the fiscal year ending June 30 1909, and for prior
years, and for other purposes," approved March 4 1909, reading as follows:
"That the members of the National Monetary Commission, who were appointed on the 30th day of May 1908, under the provisions of Section 17
of the Act entitled, 'An Act to amend the National Banking Laws.' approved May 30 1908, shall continue to constitute the National Monetary
Commission until the final report of said Commsision shall be made to Congress; and said National Monetary Commission are authorized to pay to such
of its members as are not at the time in the public service and receiving a
salary from the Government, a salary equal to that to which said members
would be entitled if they were members of the Senate or House of Representatives. All Acts or parts of Acts inconsistent with this provision are
hereby repealed," be, and the same is, hereby repealed.
Sec. 4. That no one receiving a salary or emoluments from the Government of the United States in any capacity shall receive any salary or emolument as a member or employee of said Commission from the date of the
Passage of this Act: Provided, That voluntary assistance, without compensation, may be accepted by the Commission from present employees or
rom others whose assistance may be desired by the Commission.
505
that at the close of business on the 18th inst. the Treasurer
of the United States had accepted from depository banks,
as security for postal savings deposits, bonds aggregating
$9,103,288.
On Monday a postal savings bank was opened at Tompkinsville, Staten Island,
The Citizens' Trust Co. of Brooklyn has been designated
as a depositary for postal savings funds, this being the third
Brooklyn institution which has been so named, the others
being the Nassau National Bank and the Franklin Trust Co.
The following Philadelphia institutions are also announced
as depositaries for postal savings funds: Bank of Nofth
America, First National Bank and Corn Exchange National
Bank.
—Resolutions disapproving the plan as proposed by the
Liverpool cotton bills of lading conference for the establishment of a central office bureau through which cotton bills
of lading would be verified were adopted by the New
Orleans Cotton Exchange and the New' Orleans Clearing
House Association on the 16th inst. The action grew out
of the report presented to the bodies by their special joint
bill of lading committee, of which Sol. Wexler is Chairman,
following the conference for the consideration of the matter
held at New Orleans on the 12th inst. The coriferrees consisted
of the committee referred to and Charles S. Haight, who
represented the Liverpool Bill of Lading Conference. The
Committee in its report reviews the various proceedings in
which the contemplated plan had been considered by
American interests, and points out, with regard-to the meeting
which had been held in June, at the instance of the subcommittee Of the bill of lading committee of the American
Bankers' Association, that,"it was the the understanding
at the adjournment of this meeting that the plan would not
be further considered until such time as the Liverpool cottOn
bill of lading Conference Committee had fully removed
certain objections which had been raised at the conference."
The next step in which the Southern interests participated
was the New Orleans conference on the 12th, which took
place after Fred. I. Kent, Chairman of the sub-bill of lading
Committee of the American Bankers' Association had
telegraphed whether such a conference could be arranged.
The report of the New Orleans Committee, bearing on this
conference says:
At a meeting of the Commission in Washington on Monday
last discussion was had of its plans for the next few months.
It is its purpose to conduct hearings, possibly in October at
different points throughout the country at which banks and
business organizations will be afforded an opportunity to
present their views on currency matters. All phases of the
monetary question, it is stated, will be dealt with, although
Senator Aldrich, according to the "Journal of Commerce,"
has announced it as his intention to confine himself to three
points in the collection of information. The first of these is
the question of the relation of trust companies and savings
At this meeting Mr. Haight fully explained the plan, but no change was
banks to the national banks, and whether the Banking Act
therein from the plan submitted at the New York conference, and,
shall be extended to include such fiscal agents; the second is found
therefore, the same objections raised there prevailed here, and Mr.Haight
the question of the tax on note issues. The third question is ,was informed that the committee of this Exchange and the New Orleans
as to what shall be done with the United States bonds after Clearing House was still opposed, and would make an adverse report to
respective bodies. To the surprise of your.committee, Mr. Halg,ht
the National Reserve Association is formed. Upon the con- their
thereupon informed them that the matter had been practically concluded
clusion of the hearings the Commission, it is stated, will begin by the Liverpool committee and the New York sub-bill-of-lading committee,
the preparation of its report to Congress, holding continuous disregarding the agreement to leave matters in abeyance until further conwith Southern interests, and that a letter was being printed in
sittings in Washington during November and December._ ference
seventeen different languages, to be issued to cotton importers and foreign
buyers to ask their Ameri—The campaign publicity bill, which, as noted last week, bankers all over the world, requesting said cotton and
requesting American
can sellers of cotton to comply with the plan
Senate
on
the
17th
the
the
on
House
16th
the
and
passed
exchange buyers to have all of their documents approved as to their genuinst., was signed by President Taft on Saturday, the 19th. ineness through the central office in New York, and requesting foreign acbanks to honor drafts only carrying with them all the conditions
The new statute, which applies only to Congressional elec- cepting
imposed under the plan. Mr. Haight had but one printed copy of this
the
publicity of campaign contributions letter, and we are therefore unable to furnish it In detail.
tions, requires
Your committee stated that they considered the action of the New York
before, as well as after elections, and extends the publicity
Liverpool committees as being high-handed and unwarranted, In enfeatures to primary campaigns and nominating conventions. and
deavoring to put this plan Into operation upon such short notice, and withbuyers, who are
—An amendment to the Sherman Anti-Trust law is pro- out consultation with Southern exporter§ and exchange
mainly interested in the proposition,_ and whose interests and reputations
posed in a bill introduced in the Senate by Senator La Follette were entirely at stake.
on the 19th inst. The bill would add six sections to the
The reasons given by the Committee in opposing the plan
Sherman law and would make it more drastic in its opera- are set out as follows, according to the "Picayune:"
tion. Senator La Follette on the same date also introFirst—That the losses sustained in the past twenty years from handling
duced a resolution in which he proposes that railroads in of forged bilis of lading for cotton, outside of the losses sustained through
Miller & Co. and Knight, Yancey & Co., have amounted to nothing;
Alaska be built and operated by the Government and that Steele,
and that, therefore, there is nothing in the present method of handling
its coal and mineral lands be worked under Government cotton that justifies the complex and cumbersome plan which they have
proposed.
ownership by a board of public utilities.
Second—That the failure of these two firms is not an indication that the
During the late session Congressman Martin W. Littleton exporters of cotton are lacking in any of the essentials of business integrity
introduced a bill providing for a commission of fifteen to and that the operation of this plan is a direct reflection and Insult upon
those engaged in the exporting of cotton.
make a study of industrial and financial conditions, with a allThird—That
the plan as proposed gives to the City of New York a
view to completely re-writing the Sherman Anti-Trust law decided advantage in the purchase of documentary bills by reason of their
to meet the needs of the day. It is proposed that this com- ability through the location of the central office In that city to verify their
bills of lading before making payment therefor, while all other cities would
mission shall study problems here as well as in Germany, be
under the necessity of paying for their bills before such information
England and France.
could be obtainable.
Fourth—That the verification of such documents is apt to cause the
.—A resolution introduced by United States Senator Owen holding over of drafts drawn against exchange
sold in New York, thus imon the 21st inst. authorizes the appointment of a committee peding the free movement of money against cotton shipments and a probin the discount on New York exchange during the marketing
of five Senators to investigate the panic of 1907 and the able risebesides
a loss of interest to the exporter, which In the end will have
season,
causes thereof. Senators Kearn, Works, Reed, Page and to come out of the price of the cotton.
Fifth—If such a plan is necessary, that it does not go far enough, in that
Clark are named as the Committee in the resolution. Senator
does not protect the American buyer and shipper of cotton and the
Owen did not ask for its immediate consideration, but will it
American banks, as it provides no method of verifying domestic cottonlbills
ask for its adoption at the regular session in December.
of lading, nor does it afford any similar facilities for verification of bills
lading for cotton en route to Southern or Eastern American mills.
—A number of new postal savings depositaries, both first of In
other words, the plan is drawn entirely in the interest of the foreign
were
is
named
It
this
week.
announced cotton buyer and banker and the New York exchange buyer, and without
and second-class,
506
THE CHRONICLE
regard to the interests of the large section of country in which cotton Is
produced and which bears the primary burden of financing the crop.
Sixth—Attention is particularly called to the fact that it is not proposed
to put any such plan into operation as applying to any other commodity
than cotton for export, nor is such plan in vogue in any other commercial
country that we know of, and therefore can only be construed as a direct
reflection upon the cotton business as carried on in the Southern States.
Seventh—We believe that the operation of this plan will influence foreign
buyers to deal indiscriminately with sellers doing business in America,
regardless of their past business record, standing and capital, relying entirely upon their ability to have documents verified before acceptance,
thereby encouraging more or less unhealthy competition in the cotton
trade, particularly in view of the fact that the proposed plan does not
safeguard against losses that may be sustained by overweighing, overtaring, grading and stapling.
pi. Eighth—The plan, if adopted, may place upon American bankers buying
foreign exchange certain responsibilities which cannot now be defined,
arising from a possible lack of diligence in having bills of lading promptly
verified, and which, in the acceptance of bills against a forged bill of lading
Might lead to litigation and contention. Such a complex plan will naturally
carry with it delays and errors which may cause a bill of lading to be discredited. or, at least, reflected upon, and its genuineness doubted, when
no real cause exists Other than a delay in the mails or a clerical error. Such
an occurrence might seriously injure the credit and reputation of a responsible firm, and might cause inconvenience and possibly damage suits to
firms and banks handling the bills attached to such bills of lading.
Ninth—If such plan goes into effect it will retard or possibly prevent the
passage of laws making railroad and steamship companies responsible for
the acts of their agents.
These objections were brought to the attention of Mr.
Haight, and the services of the Exchange was tendered the
Liverpool Cotton Conference Committee to bring about
such reforms in the issuance of bills of lading as might be
necessary to properly safeguard them against forgeries, or
other evils or abuses; furthermore, the New Orleans Committee announced itself as prepared to work with Mr. Haight's
committee upon a plan to bring about such remedies as are
possible to improve the situation. The New Orleans Committee also suggested that a meeting of all the interests,
namely the cotton exchanges, exporters, bankers, exchange
buyers, railroad and steamship officials be held at New
Orleans during the week of the Convention of the American
Bankers' Association in November. No definite acceptance
of this proposition, it is stated, was obtained from Mr.Haight,
and he left with the impression that it was the intention
of those who formulated the plan to endeavor to put it into
operation immediately after September 1. The action of the
New Orleans Cotton Exchange and the New Orleans Clearing
House endorsing the views of their committee followed.
—Farmers in the South and Southwest are urged to hold
cotton for 13 cents in a statement issued on the 23d inst. by
a committee consisting of Senators Robert S. Owen and John
Sharp Williams and Representative A. S. Burleson, representing a conference of Senatorsand Representativesfromseven
cotton-growing States. The committee in its statement says:
It seemed to be the opinion of all that there was a preconcerted effort
being made, principally through the instrumentality of the speculative element of the New York Cotton Exchange, to break down the price of cotton,
It was the opinion or all that the present statistical condition of cotton
did not justify the lowness of present quotations, and that the estimate of
15,000,000 bales was unjustified by any facts upon which a prediction could
be sanely based, and that, moreover, even if a 15,000,000-bale crop were in
sight, the world's supplies still probably would fall short of the world's
demand for cotton to the extent of more than 1,000,000 bales, because of the
exhaustion of the present visible supply of carried-over spot cotton. In
other words, that, with a 15,000,000-bale American crop, the world's crop
for 1911 would sum up only 25,000,000 bales, with 140,000,000 of spindles
creating an active demand for 26,000,000 bales. This opinion was based
upon the latest advices from Egypt, India, China and other cotton-producing countries.
It is proposed that the committee shall write to the President of the Farmers' Union and to officials of other cotton
farmers' organizations, asking them to advise their local
unions and other subordinate bodies to advise the farmers
generally to hold their cotton for 13 cents, and to continue
to demand that price until, by a convention or agreement
"arrived at in some way, a different one shall be suggested."
The statement adds:
This committee was also requested to communicate in some way with the
presidents of the several State banking associations in the cotton States,
asking them to throw, as far as possible, their moral and financial support
behind the effort to counteract the bearish movement of the speculators,
with the view of obtaining a fair price for the farmers' cotton.
Information was given at the informal conference that assurances would
be given to President Barrett or to Southern banks that ample funds from
banks outside of the South could be had through the instrumentality of
Southern financial institutions to be lent at the rate of 6% per annum to
those who did not wish to dispose of their cotton at a sacrifice upon cotton
warehouse statistics.
—As a result of action taken early in the month by
the English bankers, money for the rehabilitation of the
Yorkshire Penny Bank is provided. Our London corespondent furnishes us with some interesting facts regarding this institution and the causes that led up to the
present situation. The bank was founded in 1859, and
during recent years had made extraordinary progress, its
deposits at the close of last December having slightly exceeded 18 millions sterling, while its total liabilities were
[Void. locxxxiir.
over 19 millions sterling. It was to a large extent a philanthropic concern and had no capital. The philanthropist
who founded it guaranteed its liabilities to the extent, it is
believed, of £40,000 or £50,000. It paid a fixed interest of
23
4% on deposits, and was forbidden to work for the sake
of a profit. The fixed rate attracted the thrifty poor in
such large numbers that the immense mass of deposits referred to above gradually were accumulated. As the bank
was forbidden to work for profit, it never accumulated a
large reserve. Even in December last the total reserve
was under half a million sterling, and when, in consequence of the throwing out of the Budget, high-class securities began to depreciate, the investments of the bank
showed a loss. The loss was not as great as was generally
supposed, but there was a loss nevertheless. The difficulties
of the Birkbeck Bank some months ago created alarm
amongst the depositors of the Yorkshire Penny Bank, and
withdrawals began on a scale that disturbed the directors.
Accordingly an application was made to the Bank of England
for assistance. The Governor of the Bank of England acted
with great judgment and decision. He called to his councils
the representatives of the principal banks acting in Yorkshire and pointed out what would possibly be the consequences if 700,000 poor people in Yorkshire alone came to
believe that their life's savings were in danger. The result
after a great many meetings was that, except for the National Provincial, all the leading banks conducting business
in Yorkshire joined together to subscribe three-quarters of
a million sterling as capital for the reorganization of the
bank, three-quarters of a million sterling as a reserve for the
reorganized bank and half a million sterling to be called up
if needed, making altogether two millions sterling. Over
and above this, all the other leading banks, with the Bank
of England at their head, guaranteed the subscribers against
further depreciation of securities to the extent, it is understood, of somewhat over a million sterling.
Thus between actual subscriptions and guaranties the
Bank is assured of over three millions sterling. It is part
of the plan that the old rules are to be abolished, while the
interest allowed upon deposits is to be reduced and the
interest charged to borrowers is to be increased. In fact,
the bank is in future to be conducted on strict banking principles. The bankers have not the remotest doubt that the
bank will do a very large business, that the money they invest will earn a handsome profit and that they will really
benefit by what has taken place. Over and above this, they
have reassured the depositors. They have put an end to
the need for selling investments and they have given assurance to the public that the apprehended crisis is at an end.
—A consolidation has been effected of the Southern Trust
Co. with the German-American Savings Bank & Trust Co.
of Memphis. Both are small institutions of recent origin,
the capital in each instance, it is understood, having been
$25,000.
—The following letter, denying the existence of a so-called
Michigan State Bank, at Adrian, Mich., has been received
by us from State Bank Commissioner Edward H. Doyle
of Michigan:
STATE OF MICHIGAN BANKING DEPARTMENT.
Lansing, August 22, 1911.
"Commercial and Financial Chronicle," New York, N. Y,
Gentlemen—I am informed from reliable sources that one F.-B. Spence of
Adrian,Mich.,has been carrying on considerable correspondence under the
name of "Michigan State Bank."
Wt deem It our duty at this time to inform you that no application has
been made to organize such a bank at Adrian, neither is there such a bank
legally in existence In that city by that name.
Yours truly,
E. H. DOYLE.
Commissioner of the Banking Department.
—The payment of interest on deposits of less than $1,000
will be discontinued by the United States Mortgage & Trust
Co. of this city on Sept. 1. Other down-town trust companies
adopted this course some time ago, while some of the larger
companies have never been in the habit of paying interest
on accounts of less than $1,000. The action of the United
States Mortgage & Trust Co. is due chiefly to the exceedingly
low rates commanded at the present time by day-to-day
loans, as well as other loans, average returns of 23. to 23%
being insufficient to net the company a fair margin of profit.
—It is stated that the question of the legality of the relations between the National City Bank of New York and
the new National City Company has been referred to President Taft, owing to the conflicting opinions in the matter
entertained by Attorney-General Wickersham and Secretary
of the Treasury Mac Veagh.
AUG. 26 1911.]
-A ruling to the effect that State bonds must be deposited
as security by banks designated as depositaries of court funds
has been rendered by New York State Attorney-General
Carmody. The opinion has reference to an amendment
made to Section 44 of the banking law at the late session,
and the Attorney-General holds that the requirements of
the amended law are that court deposits hereafter must be
secured by State bonds instead of by surety bonds, as has
been the custom in the past. The Attorney-General in his
findings says:
In my opinion this law is mandatory and requires the depositaries of
court funds to furnish an undertaking to be secured only by outstanding
unmatured bonds of the State. The provisions of the section allowing surety
company bonds have been cut out and as Section 8 of the finance law prescribes that in lieu of surety bonds the depositary may deposit with the
Comptroller outstanding unmatured bonds issued by the State. I think this
provision must be regarded as the one referred to in Section 44, and I think
You can only accept the undertaking secured by New York State bonds.
I also think it is necessary for you to require all surety company bonds
now on file in your department for such depositaries to be replaced with
undertakings secured by New York State bonds before any further deposits
of court funds can be made with such depositaries; but if no further deposits
are made the security now on file will suffice for the funds heretofore deposited.
-On Monday last the proposed merger of the Nineteenth
Ward and Twelfth Ward banks into the Fourteenth Street
Bank was ratified by the respective stockholders. The proceedings for completing the merger were announced in this
department on Aug. 5. The Fourteenth Street Bank, which
on the 15th inst. assumed its new title, the Security Bank
of New York, reduces its capital from $1,000,000 to $750,000,
the $250,000 taken from capital being transferred to the surplus; it is arranged through an issue of 2,500 of new shares
to immediately restore the capital to $1,000,000. The
additional stock is offered to the shareholders of the Fourteenth Street Bank at $150-the price at which it was underwritten by a syndicate. This plan serves to add $375,000
to the surplus account, thus giving the bank a capital of
$1,000,000 and a surplus of $500,000. The Nineteenth
Ward Bank has a capital of $300,000 and on June 11 its
deposits were $5,272,110; the figures of the Twelfth Ward
Bank on the same date were, capital $200,000 and deposits
$1,718,800, while on July 29 the deposits of the Fourteenth
Street Bank were $7,327,000. The deposits of the enlarged
bank will therefore exceed $14,000,000. R. Ross Appleton,
Pres.of the Fourteenth Street Bank,continues at the head of
the amalgamated organization; James G. Cannon, President
of the Fourth National Bank, with which the Security Bank
is allied, is Chairman of the executive committee of the latter,
the Vice-Presidents of the Security Bank being R. I. Brewster, Henderson M. Wolfe and P. Maxwell Sayford, and the
Cashier, Louis V. Ennis. Bradley Martin Jr., President of
the Nineteenth Ward Bank, becomesa director of the Security.
-The stockholders of the Audubon National Bank of the
city on Tuesday ratified the action taken by the directors
in July under which it was decided to place the institution in
voluntary liquidation. The course resulted from the alleged
use by former President David S. Mills of $43,650 of the
bank's funds to buy 344 shares of the stock of the institution.
It is stated that with the exception of $8,000, which is awaiting distribution, all of the $300,000 of deposits have been
paid off.
-Edward H. Bonner, a member of the New York Stock
Exchange since 1863, and senior member of the banking
firm of E. H. Bonner & Co., died on the 17th inst. He was
seventy-three years of age.
-The payment of a dividend of 20% to the stockholders
of the Terminal Bank of Brooklyn Borough, which was placed
in voluntary liquidation in February, was announced on the
17th. The depositors' claims, with the exception of $200
which remains uncalled for, have been paid in full. The
bank had a capital of $100,000.
-Frederick H. Harris, President of the Third National
Bank of Springfield, Mass., died on the 17th inst. His connection with the bank extended over a period of nearly fifty
years; he entered its employ as Cashier in 1863 and had been
President since 1886. He was in his eighty-ninth year.
His son, Frederick Harris, is Cashier of the bank.
-The highest price ever paid for a Philadelphia bank
stock was recorded on Thursday, when one share of Girard
Trust Co. stock was sold on the Philadelphia Stock Exchange
for $1,000. On Wednesday some of the company's stock
was sold at auction at $998 per share. The last previous sale
of the institution's stock on the Exchange is reported to have
occurred on July 29 1908, the price paid at that time being
only $750. The company has a capital of $2,500,000, sur-
501
THE CHRONICLE
plus of $7,500,000 and total assets of over 46 million:dollars.
It pays annual dividends of 34%.
-J. M. Appel resigned this week as Vice-President and
director of the La Salle Street National Bank of Chicago,
.
the resignation to become effective Sept. 15.
-Plans have been perfected for a consolidation of the
Bankers' Trust Co. and the Texas Trust Co. of Houston.
The stockholders of the Bankers' Trust have approved a
proposition to increase the capital of their institution from
$1,000,000 to $2,000,000; it is the purpose to allot 7,700
shares of the new stock to the shareholders of the Texas
Trust Co. in exchange for their holdings and to sell the remaining portion of the issue (2,300 shares) to the stockholders of both institutions at $145 per share-the market
value of the stock of the Bankers' before the increase. The
Texas Trust Co., which is to be dissolved, has a capital of
$500,000 and surplus and profits in the neighborhood of
$375,000. The consolidation will go into effect in September and the new officers will be chosen at a meeting to be
held on the first Tuesday of the coming month. The two
institutions have many stockholders and directors in common.
-The Harris County Bank & Trust Co. of Houston, Tex.,
was placed in the hands of the State Commissioner of
Insurance and Banking on the 7th inst. by State Bank
Examiner J. IC. Woods, who is temporarily in charge.
The Houston "Post" states that "this action was deemed
necessary because of the existence of some large loans,
which, in the opinion of the Department, were considered of such a nature that they could not be readily realized upon, and therefore impaired the capital stock of the
institution." The bank was organized in 1907 and was
originally the Harris County Savings Bank. The institution
is a member of the guaranty fund participated in by State
banks governing non-interest-bearing deposits. • The capital
of the company is $50,000 and its deposits are said to have
been in the neighborhood of $215,000, of which 8139,928
were non-interest-bearing. Of this latter, $110,659 was
•' • •: 11
announced as paid off up to the 19th inst. • •
-The Bank of Nova Scotia (head office, Halifax) increased
its dividend rate on the 22d inst. from 13 to 14% per annum.
The paid-in capital of the institution(July 31)was$3,630,570
and it has a reserve fund of $6,714,625.
IMPORTS AND EXPORTS OF GOLD AND SILVER AT
SAN FRANCISCO.
The Collector of Customs at San Francisco has furnished us
this week with the details of the imports and exports of gold
and silver through that port for the month of June, and we
give them below in conjunction with the figures for preceding
months, thus completing the results for the fiscal year
1910-11. The imports of gold were moderate, reaching
$398,989, mainly gold bullion. Of silver there came in
$123,269, mainly silver bullion. During the twelve months
there was received a total of $8,106,108 gold and $1,579,109
silver, which compares with $3,102,964 gold and $2,572,377
silver in 1909-10. The shipments of gold during June were
$340 coin and the exports of silver were '$964,486, mainly
bullion. For the twelve months the exports of gold reached
$688,690, against $27,008,324 in 1909-10; and $8,770,745
silver was sent out, against $7,314,954 in 1909-10. The
exhibit for Jund and for the twelve months is as follows:
IMPORTS OF GOLD AND SILVER AT SAN FRANCISCO.
Silver.
Gold.
Mont/is.
Bullion.
Coin.
1910-11.
July
August
September
October
November
December
January
February
March
April
May
Juno
Total
Total.
Coin.
Bullion.
Total.
$
$
$
6
$
288,734 369,798
45,450 133,980 179,430
285,281 559,285
96,797 103,989 200,786
62,447 108,383
239.006 861,506
45,936
167,345 419,433
60,423
97,006
36.583
38,122
193.663 890.863
34.626
1.496
21,776 140,694 162,470
226,493 228,673
302,472 1,447,872
72.262 122,600
50,338
60,340 116.336 176,676
184,031 2,202,231
99,031 153,811
54.780
278,393 294.350
64.790 136.350
71,560
233.545 233,545
46.540
35,666
199,563 199.563
82,206
21.399 101,870 123,289
398,989 398,989
------------------5,108,593 2,997,515 8,106,108 552,995 1,026,114 1,579,109
$
81,064
274,004
622,500
252,088
697,200
2,180
1,145,400
2,018,200
15,957
EXPORTS OF GOLD AND SILVER FROM SAN FRANCISCO.
Silver.
Gold.
Months.
Coin.
1910-11.
July
August
September...October
November
December
January
February
March
April
May
June
Total
Bullion.
Total.
Coin.
Bullion.
Total.
4,500
10,000
10.000
5,000
350
663,000
10.000
340
15,690
673,000
608,000
350
10.000
340
-688.690
334,000
338,500
378,000
378,000
831,821
831,821
489,400
25,000
484,400
1,117,576 1,117,576
970,862
970,862
814,000
814,000
1,036,000 1.036,000
1,096,000 1,096,009
734,100
734,100
202,086
762,400
964,486
231,586 8,539.159 8,770,745
THE CHRONICLE
508
BkonetanilaommercialaZnglasitgati
Name of Company.
••••••••••••M1,....W.M.
,
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,
Week ending Aug. 25.
Sat.
Silver, per oz
d 24 1-16
Consols, new,23. per cents__
For account
French rentes (in Paris)__fr_ 94.45
Amalgamated Copper Co__ -Amer. Smelting & Refg. Co_
b Anaconda Copper Co
Atch. Topeka & Santa FePreferred
Baltimore & Ohio
Preferred
Canadian Pacific
Chesapeake & Ohio
Chicago Great Western
Chicago Milw. 4, St. Paul__ _
Denver dv Rio Grande
Preferred
Erie
First preferred
Second preferred
Illinois Central
Louisville & Nashville
Missouri Kansas & Texas...
Preferred
Missouri Pacific
Nat. RR. of ldex., 1st pref
Second preferred
N. Y. Cent. & Hud. River..
N. Y. Ontario & Western...
Norfolk& Western
Preferred
Northern Pacific
a Pennsylvania
a Reading Co
a First preferred
a Second preferred
Rock Island
Southern Pacific
Southern Ry
Preferred
Union Pacific
Preferred
U. S. Steel Corporation
Preferred
Wabash
Preferred
Extended 4s
--a Price per share. b £ sterling.
Thurs. Fri.
Tues.
Wed.
243 24 1-16
243
243
783.16 783
78 3-16 78%
78 3-16 78%
78 3-16 783
94.5236 94.50
94.50
94.50
62
603
623j
623
73
71
73
723
711
714
73
734
108% 107%
1063
1073
104
105
104
1043
105
104
10314
103
88
88
88
88
240
238%
2383
2403
8
753
7536
75%
7431
2031
20
1934
20
1173.6
11736
1173
116
25%
25%
2
2534
534
5534
5534
55
5434
3034
3034
3034
29%
51
5134
5034
49
42
42
42
42
144
144
144
14234
14734
14734
146
14734
32
3134
3154
3154
68
68
6856
68
42
%
423
4234
4134
64
64
63
61
2934
29
28
2914
10734
106
107
10734
4134
4154
41
4154
106
106
10534
105
93
93
93
93
122
123
12034
12154
6231
62
6134
6254
733%
738%
73
7431
4636
4654
4634
4654
47
4734
47
4734
2854
26
2631
2734
1153(
11234
11354
11554
2854
2754
29
2874
71
7034
7034
6934
175
17454
17394
17154
9334
933-4
9334
9334
7354
7174
7434
7434
119
11934
119
11834
14% ' 1434
15
14%
31
3036
30 •
3034
64
6434
633.4
6434
Mon.
24
7834
7831
94.60
6434
73%
73.
108%
106
106
885
24231
7736
2034
1183.6
26%
5534
3034
5134
4234
14434
148
3354
6834
4254
64
30
10754
4151
107
93
12434
6231
7434
4634
47
28
11634
2916
72
176
9434
7434
11954
15
3134
65
griumerciat and g/tasrellantausEttnts
National Banks.-The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
CHARTERS ISSUED TO NATIONAL BANKS AUG. 10 TO AUG.15.
10,066-The First National Bank of Childersburg, Ala. Capital, $25,000.
G. M. Riser, President; J. A. Hodges, Vice-Pres.; A. H. Smith,
Cashier.
ibtabliffsdl
10,067-The National Bank of Commerce of Williamson, W. Va. Capital,
$100,000. Wells Goodykoontz, Pres.; E. F. Randolph, Vice-Pres.;
• fe R. B. Parrish, Cashier; C. A. Wright, Asst. Cashier. (Conversion
• of the Mingo County Bank, Williamson, W. Va.)
VOLUNTARY LIQUIDATION.
6,678-The Oklahoma City National Bank, Oklahoma City, Okla., June
30 1911. Taken over by The State National Bank of Oklahoma
City, Okla., No. 4862.
•
• Canadian Bank Clearings.-The clearings for the week ending Aug. 19 at Canadian cities, in comparison with the same
week of 1910, shows an increase in the aggregate of 20.7%.
Week ending Aug. 19.
Clearings al1911.
CanadaMontreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton
St. John
Calgary
London
Victoria
Edmonton
Regina
Brandon
Saskatoon
Moose Jaw
Lethbridge
Brantford
Total Canada
1910.
Inc. or
Dec.
1909.
1908.
$
$
42,384,025 36,583,649 +10.4 34,664,681 26,106,379
31,732,521 26,515,775 +19.7 25,525,978 22,086,395
18,916,847 17,358,304 +9.0 11,666,143 7,906,154
9,795,537 7,612,815, +28.7 6,081,622 3,889,079
3,723,533 3,687,862 +1.0 3,135.941 2,776.842
2,584,838 2,142,833 +20.6 2,203,310 2,082,814
1,629,954 1,859,138 -12.4 2,787,376 1,854,142
2,451,029 1,912,456 +28.2 1,862,655 1,364,673
1,367,293 1,572,532 -13.0 1,439,686 1,320.499
7,789,898 2,785,926 +179.7 1,986,450 1.290,960
1,284,074 1,127,153 +13.9 1,132,113 1,010,301
2,768,474 1,781,740 +55.4 1,407,534 1,110,233
2,006,432 1,658,7871 +21.0 1,050.539
775,440
1,322,773
883,985; +49.7
441,319 +10.9
489.275
1,129,474 Not include d in tot al
867,862 Not include d in tot al
543,417 Not include d in tot al
439,502 Not include d in tot at
130,246,503 107,924,2741 +20.7 94,944 028 73,573,911
DIVIDENDS.
The following shows all the dividends announced for tile
future by large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Railroads (Steam).
Alabama Great Southern. preferred
Atch. Topeka & Santa Fe. corn. (guar.)._
Atlantic Coast Line Co. (Conn.),(quar.). _
Baltimore & Ohio, common
Preferred
Boston & Albany (quar.)
Boston & Maine cont.(quar,)
Preferred
Canadian Pacific, corn. (guar.)(No. 61)..
Preferred
Per
When
Cent. Payable.
3
13.4
234
3
2
2
1
3
23.4
2
Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
Oct.
Sent.
Sept.
Sept.
Books Closed.
Days Inclusive.
28 Holders of rec. July22a
1 Holders of rec. July28a
9 Aug. 30 to Sept. 8
1 Holders of rec. Aug. la
1 Holders of rec. Aug. la
30 Holders of reo. Aug.31a
2 Holders of rec. Sept. la
1 Holders of rec. Aug.15a
30 Sept. 2 to Oct. 4
30 Sept. 2 to Oct. 4
[VoL. Lxxxxm.
Per
When
Cent. Payable.
Books Closed.
Days Inclusive.
Railroads (Steam) (Concluded).
Chestnut Hill (guar.)
134 Sept. 5 Aug. 20 to Sept. 4
Chic. Milw. 4, St. Paul, corn. and pref_
334 Sept. 1 Holders of rec. Aug.11a
Chicago & North Western, cam.(qua?.)... 154 Oct. 2 Holders of rec. Sept. la
Preferred (quar.)
2
Oct. 2 Holders of rec. Sept. la
CM. N.0. & Tex. Pac., pref.(quar.)
131 Sept. 1 Holders of rec. Aug.26a
Cleveland & Pittsburgh, reg., guar. (qu.) 134 Sept. 1 Holders of rec. Aug.10a
Special, guar. (quar.)
1
Sept. 1 Holders of rec. Aug.10a
Cripple Creek Central, pref. (qu.)(No.23) 1
Sept. 1 Holders of rec. Aug.17a
Delaware & Hudson Co. (guar.)
234 Sept. 20 Holders of rec. Aug.28a
Evansville & Terre Haute, corn & pref
5
Sept. 1 Aug. 20 to Sept. 4
Grand Trunk, 1st and 2nd Pref
234
Illinois Central (No. 113)
334 Sept. 1 Holders of reo. Aug, 1
Louisiana ct: Arkansas (No. 12)
131 Sept. 15 Sept. 15 to Sept. 17
Newark & Bloomfield.,
Oct.
3
2 Holders of rec.Sept.22a
N. Y. Chic. & St. Louis, 1st & 2d pref.._ 234 Sept. 1 Holders of rec. Aug. la
N. Y. N. H. de Hartford (guar.)
2
Sept. 30 Holders of rec. Sept.15a
Norfolk & Western, common (quar.)
131 Sept. 18 Holders of rec. Aug.31a
Pennsylvania (guar.)
136 Aug. 31 Holders of rec. Aug. 68
Phila. Germantown 4, Norristown (guar.) 3
Sept. 5 Aug. 20 to Sept. 4
Pills. Youngst. & Ash., com.,tp d.(gu.). 134 Sept. 1 Holders of rec. Aug.20a
Reading Co., first preferred
Sept. 9 Holders of reo. Aug.23a
2
St. Joseph So. Bend & Southern, corn
Sept. 15 Sept. 12 to Sept. 15
1
Common (extra)
A Sept. 15 Sept. 12 to Sept. 15
Preferred
234 Sept. 15 Sept. 12 to Sept. 15
Southern Pacific (guar.)(No. 20)
1 Holders of world No.20
134 Oct.
Southern Ry. M. dc 0.stk. tr. certificates _ 2
Oct.
1 Holders of rec. Sept. 15
Union Pacific ,common (guar.)
2 Sept. 12 to Oct. 10
234 Oct.
Preferred
Oct.
2
2 Sept. 12 to Oct. 10
Utica & Black River
314 Sept. 30 Holders of rec. Sept.168
Warren, guaranteed
316 Oct. 16 Holders of rec. Oct. 50
Wisconsin Central. preferred
2
Oct.
2 Holders of rec. Sept. 14
Street and Electric Railways.
American Railways (guar.)
134 Sept. 15 Holders of rec. Aug. 31
Brooklyn Rapid Transit (guar.)
1 Holders of rec. Sept. 9a
13-4 Oct.
Chippewa Val. Ry.,L. & Pow., pref.(qu.) 131 Sept. 1 Holders of rec. Aug.31a
Columbus (0.) Ry., corn. (quar.)(No.33) 134 Sept. 1 Holders of rec. Aug.15a
Detroit United Ry. (guar.)
154 Sept. 1 Holders of rec. Aug.113a
Elmira Water, Lt. & RR., pref
234 Sept. 1 Aug. 18 to Aug. 31
Federal Light & Tree., pref. (quar.)
134 Sept. 1 Aug. 16 to Sept. 1
Louisville Traction, common (guar.)
1
Oct.
1 Sept. 11 to
Preferred
214 Oct.
1 Sept. 11 to
Northern Ohio Tract. & Light (quar.)___
% Sept. 15 Holders of rec. Aug.31a
Northern Texas Elec.Co., com.(qu.)(No.8) 134 Sept. 1 Holders of rec. Aug.14a
Preferred (No. 12)
3
Sept. 1 Holders of reo. Aug.14a
Philadelphia Co., preferred
23.4 Sept. 1 Holders of rec. Aug.10a
.Portland Ry., Lt. & Pow. (quar.)(No.3) $1 Sept. 1 Holders of rec. Aug.12a
Rochester Ry. & Lt., pref. (guar.)
114 Sept. 1 Holders of rec. Aug.25a
St.Jos.Ry.,L.H. & P.,com .(qu.)(No.12)
14 Sept. 1 Holders of reo. Aug.15a
Seattle Electric Co., preferred
234 Sept, 1 Aug. 16 to Aug. 31
Terre Haute Tract. & Light, pref
3
Aug. 31 Aug. 22 to Aug. 31
Whatcorn Co. Ry. & Light, pref.(No. 16) $3
Sept. 1 Holders of reo. Aug.24a
Banks.
Chemical National (bi-monthly)
214 Sept. 1 Aug. 26 to Aug. 31
Trust Companies.
Citizens, Brooklyn
234 Sept. 1 Holders of rec. Aug. 21
Miscellaneous.
Adams Express (guar.)
$3
Sept. 1 Aug. 15 to Aug. 31
Amalgamated Copper
x Aug. 28 Holders of rec. July29a
American Coal
Sept. 1 Aug. 22 to Sept. 1
3
American Express(quar.)
2 Holders of rec. Aug.31a
Oct.
$3
American Gas (guar.)
154 Sept. 1 Holders of rec. Aug. 21
American Locomotive, pref.!(Tian)
131 Oct. 21 Sept. 22 to Oct. 20
American Radiator, common (guar.).- 2
Sept. 30 Sept. 22 to Sept.30
Amer. Shipbuilding, pref. (guar.)
1% Oct. 15
Am.Smelt. Secur.. pref. A (qu.)(No. 26) 114 Sept. 1 Aug. 23 to Aug 31
Preferred B (guar.)(No. 25)
134 Sept. 1 Aug. 23 to Aug. 31
Amer. Sugar Refining ,corn. & pref.(qu.) 154 Oct.
2 Holders of rec. Sept. la
Am. Teleg & Cable, guar. (guar.)
134 Sept. 1 Holders of rec. Aug.31a
American Writing Paper, preferred
Oct. 2 Holders of rec. Sept.15a
1
Associated Merchants, common (quar.).. 154 Aug. 31 Holders of rec. Aug. 26
Common (extra)
X Aug. 31 Holders of rec. Aug. 26
Barney & Smith Car, pref. (guar.)
Sept. 1 Aug. 18 to Sept. 1
2
134 Sept. 15 Sept. 6 to Sept. 15
Borden's Cond. Milk, pref. (guar.)
Butte Coalition Mining (guar.)
25c. Sept. 1 Aug. 17 to Sept. 1
Butterick Company (guar.)
% Sept. 1 Holders of rec. Aug.15a
Central Leather, pref. (guar.)
134 Oct. 2 Holders of rec. Sept.11a
Childs Company, common (guar.)
23,4 Sept. 11 Sept. 3 to Sept. 11
Preferred (guar.)
134 Sept. 11 Sept. 3 to Sept. 11
X Sept. 1 Holders of reo. Aug. 20
Cities Service, common (monthly)
Preferred (monthly)
36 Sept. 1 Holders of rec. Aug. 20
Columbus (0.) Gas & Fuel (guar.)
34/ Sept. 1 Holders of rec. Aug.15a
Consolidated Gas of New York (quar.)
154 Sept. 15 Holders of rec. Aug.16a
Cuban-Amer. Sugar, pref. (guar.)
154 Oct. 2 Holders of rec. Sept.15a
Diamond Match (quar.)
154 Sept. 15 Holders of rec. Aug.3Ia
Eastman Kodak, common (extra)
5
Sept. 1 Holders of rec. July 31
Federal Min. & Smelt., pref. (quar.)..-- 131 Sept. 15 Holders of rec. Aug. 26
General Asphalt, pref. (guar.)(No. 17).. 154 Sept. 1 Holders of rec. Aug.15a
General Chemical, common (guar.)
134 Sept. 1 Holders of rec. Aug.22a
Preferred (guar.)
134 Oct. 2 Holders of rec. Sept.22a
General Electric (guar.)
Oct. 14 Holders of rec. Sept. 2a
2
Great Northern Paper (guar.)
134 Sept. 1 Aug. 22 to Sept. 1
Harbison-Walker Refrac., corn. (quar.)..
34 Sept. 1 Holders of rec. Aug. 19
Internat. Harvester, pref. (qu.)(No. 18) 131 Sept. 1 Holders of rec. Aug. 10
International Nickel. common (quar.)_ 254 Sept. 1 Aug. 13 to Sept. 1
Sept. 1 Aug. 19 to Sept. 1
International Smelting & Ref'g (guar.)._ 2
Kings County Elec. L. & P.(qu.)(No.46) 2
Sept. 1 Holders of rec. Aug.21a
151 Sept. 15 Sept. 2 to Sept. 15
Laclede Oas Light. corn.(metro
Lehigh Coal & Navig.(guar.)(No. 131)._ 2
Aug. 31 Holders of reo. July 31
MacArthur Bros., preferred (No. 17)..... 334 Sept. 1 Aug. 22 to Aug. 31
MackayCos., corn. (guar.)(No. 25)
134 Oct.
2;Holders of rec. Sept. Pa
1
Preferred (guar.)(No. 31)
Oct.
2;Holders of rec. Sept. 9a
Michigan State Telep., corn. (quar.)--- 134 Sept. ',Aug. 18 to Sept. 1
136 Nov. l'Oct. 15 to Nov. 1
Preferred (guar.)
154 Sept. 15 1 Holders of rec. Aug. 31
Muskogee Gas & Elec., pref.(guar.)
National Biscuit, corn.(guar.)(No. 52).. 131 Oct. 14 Holders of rec. Sept.28a
Preferred (guar.)(No. 54)
154 Aug. 31 Holders of rec. Aug.I7a
Nat. Enam. & Stpg.. pref.,(qu.)(No. 51) 131e Oct.
1 Sept. 11 to Sept. 30
National Lead, common (guar.)(No. 31)
% Sept. 30 Sept. 9 to Sept. 13
1%
Preferred (quar.)
Aug 19 to Aug. 22
Sept.•
Nevada Consolidated Copper (guar.)
3714c. Sept. 30 Sept. 13 to Sept. 17
N. Y. & Queens El. L. & P., pref. (qu.) 1
Sept. 111-folders of rec. Aug
Niles-Bement-Pond, common (quar.)
116 Sept. 20 Sept. 10 to Sept. 2
North American (guar.)
134 Oct.
2l1Iolders of reo. Sept.15a
Oklahoma Gas & Elec., corn.(guar.)
2
Sept. 15 Holders of'rec. Aug. 31
Philadelphia Electric (guar.)
136 Sept. 154:folders of rec. Aug.15a
Pittsburgh Brewing, corn. (guar.)
134 Aug. 30:Aug. 20 to Aug. 30
Preferred (guar.)
134 Aug. 30'Aug. 20 to Aug. 30
Pittsburgh Steel, pref. (guar.)
134 Sept. 1 Holders of rec.Aug. 18a
Pure 011, common (guar.)
234 Sept. 1 Aug. 15 to Aug. 31
Quaker Oats, common (guar.)
234 Oct. 16'Holders of rec. Oct. 2a
Preferred (guar.)
134 Aug. 31,Holders of rec. Aug. la
Preferred (guar.)
114 Nov. 30,Holders of rec. Nov. la
Quincy Mining (guar.)
$1
Sent. 25 Holders of rec. Atig.30a
Railway Steel-Spring, pref. (guar.)
154 Sept. 20 Sept. 7 to Sept. 20
San Diego Consol. Gas & Elec., cont.(qu.)_
151 Sept. 15 Holders of rec. Aug. 31
2
Standard Gas & Elec., pref. (guar.)
Sept. 15 Holders of rec. Aug. 31
Standard Oil (quar.)
$6 Sept. 15 Holders of rec. Aug.18a
Stern Bros., pref. (guar.) (No. 3)
151 Sept. 11Aug. 19 to Sept. 4
134 Sept. 1:11olders of rec. Aug. 15
Studebaker Corporation, pref. (quar.)
Underwood Typewriter, common (guar.) 1
Oct. 2 Holders of rec. Sept.20a
Preferred (guar.)
2,Holders of rec. Sept.20a
lg Oct.
Union Stock Yards, Omaha (guar.)
g
. 22 to Aug. 31
134 Sept. 1;Ati
131 Sept. 1.Holders of rec. Aug.25a
United Cigar Mfrs., pref. (guar.)
United Dry Goods Cos., pref.(guar.).-- 151 Sept. 1 Holders of rec. Aug.24a
354 Sept. 1 Aug. 16 to S.-pt. 3
U. S. Envelope, preferred
iq Sept. 29 Sept. 2 to Sept. 11
U. S. Steel Corp., corn. (quar.)(No. 31)_
Preferred (guar.)(No. 41)
131 Aug. 30 Aug. 2 to Aug. 13
Utah Copper (guar.)(No. 13)
75c. Sept. 301Sept. 16 to Sept. 19
a Transfer books not closed. b Less Income tax. 46-orrection. e 1)
,
,claree. 7%
payable In quarterly installments. !Declared 2% payable in quarterly ir.tallt.ents.
THE CHRONICLE
AUG. 26 1911.]
Auction Sales.—Among other securities, the following, no
usually dealt in at the Stock Exchanges, were recently sold at
auction in New York, Boston and Philadelphia.
By Messrs. Adrian H. Muller & Sons, New York:
Per cent.
Shares.
Per cent. Shares.
200 Amer. Peat Paper Co., pref _3150 lot 30 Granite Say. Bk. & Tr. Co.
10
of Barre, Vt
26 North River Fire Ins. Co
151
20 Pacific Bank
278% 15 Clark Land & Loan Co., pref__ 1
157 Pacific Fire Ins. Co
175%
Per cent.
60 Iron Steamboat Co., 810 each_371 lot Bonds.
30 Bank of America
6023. $50,000 Susque. Coal & Coke Co.
$100 lot
1st 6s, 1040
1 Chemists' Building Co
$42
51 Farmers Loan & Trust Co.._ _140634 $50,000 Susque. Coal & Coke Co.
$70 lot
1st 6s, 1940
15 Bond dr Mtge. Guarantee Co_ _245
$289,000 Susque. Coal & Coke Co.
377 Orange Storage Warehouse Co_ 1
$110 lot
1st 6s, 1910
By Messrs. Francis Henshaw & Co., Boston:
$ per all.
$ per sh. Shares.
Shares.
3 Manchester & Lawr. RR. Co_ _223
30 Merchants National Bank_ _ _ _280
5 cts.
133 Rights American Glue Co
70
40 Page Belting Co
6 Essex Co
par $50_190
100%
2 Merrimack Mfg. Co., pref
150%
6 Everett Mills
By Messrs. R. L. Day & Co., Boston:
8 per sit.
$ per an. Shares.
Shares.
1 Boston Athenaeum, par $300.3053
4073
4 National Sha,wmut Bank
4 Massachusetts Lighting Co's__125
2 People's Nat. Bank, Roxbury_125%
101%
5 New Boston Music Hall
5%
6 Old Lowell Nat. Bank
100 Warren Bros. Co., corn., par4350 23
185
1 Boston Belting Co
140
6,676 Rights American Glue Co-5c.-12c.
5 York Mfg. Co
10 Amer. Glue Co., pref.—=-rts..147
6 Merrimack Mfg. Co., pref.—
100%
ex-dividend
By Messrs. Barnes & Lofland, Philadelphia:
$ perch. Shares.
,
$ per sit.
Shares.
125% 10 Girard Fire & Marine Ins. Co_ _280
24 Continental Pass. fly. Co
25 Franklin Fire Ins. Co., par $20. 5334
10 Beaver Dam Marble Co., par
$2,300 lot 25 Franklin Fire Ins. Co., par
$1,000
•
$20
5334-51%
227 Rotary Engine Co., par $50$27 lot
2 Delaware Ins. Co., par 310_ __ 22
4 Commonwealth Title Ins. &
240
8 Germantown Pass. fly. Co_1-17%-118
Trust Co
26 Amer. Pipe & Construe. Co__ - 963i
20 Rts. to subscribe Ridge Av. Bk _50c.
582
16 John B. Stetson Co., common _571
5 Ponnsyl. Co. for Ins. &c
252
.
4 2d & 3d Sts. Pass. fly. Co_
Per cent.
10 Fire Asso. of Phila., par$50.343-343% Bonds.
314
34.000 Pennsyl. Sugar Ref. Co. 1st
9 Bank of North America
205
5s, 1931; Jan. 1909 coupons at26 Union National Bank
998
tached'
41 flat
7 Girard Trust Co
8 Phila. Tr. S. D. & Ins. Co_ __ _66034 $2,000 Phila. Germantown & C. H.
100%
99
RR. Co. 1st 434s, 1913
108 Real Estate Trust Co
5 Mana.yunk Trust Co., par $25. 58% $2,000 Delaware Co. gen. 434s, 1932 103
$1,000 Berwyn Water Co. 6s, 1920_106%
8 People's Trust Co., par $50_ .._ 50
$2,000 United Gas & Elec. Co. of
12 Hamilton Trust Co., par $50_ _ 60
95
N. J. 1st coll. tr. 5s, 1922
15 Mutual Trust Co., par $50..„ _ 50
10 West End Trust
112% $1,000 Springfield Water Co.5s,'26 100
14 Phila. W.H. & Cold St. Co.150-150% $1,500 No. Spgfid. Wet. Co. 5s, 28 100
By Messrs. Samuel T. Freeman & Co., Philadelphia:
Per cent.
Shares.
$ per sit. Bonds.
5 Germantown Pass. fly. Co
119
$500 No. Springfield Water let
100
5
5s. 1928
23 Lalor Fuel Oil System Co
11% $1,000 Spgfid. Water cons. 5s, 1926 100
,6 Phila. Life Ins. Co
509
DETAILED RETURNS OF TRUST COMPANIES.
On Dep.
Trust Cos. Surplus. Loans, Specie. Legate. with C.H
003 omitted.
Average. Average. Average. Banks.
--$
$
Manhattan _ _ _ 2,331,4 20,799,0 2,283,0
25,0 2,234,0
Brooklyn _ _ _ _ 2,397,2 16,514,0 1,666,0
416,0 4,895,0
Bankers
12,860,9 137,328,0 14,428,0
524,0 11,361,0
U.S.Mtg.& Tr.. 4,446.4 40,014,0 3,659.0
695.0 6,155,0
Astor
1,043,1 17,263.0 1,938,0
25,0 1,638,0
Title Go. & Tr_ 11,429,9 37,418,0 1.941,0 1,464,0 2.655,0
Guaranty
22,977.9 148,133,0 13,058,0 1,260,0 20,557,0
Fidelity
1.272,4 6,895,0
226,0
713,0
556,0
LawyersT.I.&T 6,453,8 20,566,0 1,421,0
942,0 1,758,0
Columbia
1,813,1 16,039,0 1,601,0
100,0 1,292,0
Standard _ _ _ _ 1,426,3 16,589,0 2,200,0
20,0 2.038,0
People's
1.727,4 17,131,0 2,014,0
383,0 1,846,0
New York.. _ _ _ 11,183,3 47,674,0 4,487,0
257,0 3,453,0
Franklin
977,4 10,673,0 1,250,0
289,0 1,087,0
Lincoln
582,0 9,401,0 1,062,0
228,0 1,058,0
Metropolitan_ _ 6,107,4 24,585,0 2,776,0
13,0 2,587,0
Totals, Avge
Net
Deposits. Reserve.
Average.
---3
%
15,096,0 15.3+16.5
11,745.0 17.6+30.1
99,895,0 15.6+ 9.7
28.908,0 16.1+16.1
12.933,0 15.3+10.0
23,064,0 15.0+ 6.8
94,808,0 13.1+18.0
5,107,0 15.3+11.9
15,401,0 16.6+10.4
11,167,0 13.8+13.4
16,277,0 13.5+11.4
15,996,0 15.5+ 9.3
30,0:34,0 15.4+11.4
9,874,0 14.8+10.3
8,607,0 15.1+10.9
17,379,0 15.8+12.9
91,029,9 587,022,0 56,340,0 6,867,0 65,327,0 416,291,0 15.1+13.5
Actual figures Aug. 19 583,319,0 55,635,0 6,872,0 65,769,0,416,976,0 14.9+13.6
The capital of the trust companies is as follows* Manhattan, $1,000.000; Brooklyn.
$1,000,090 Bankers, 85,000,000; U. S. Mortgage & Trust, $2,000,000; Astor.
$1,250,000 Title Guarantee & Trust, $1,375,000; Guaranty, $5,000,000: Fidelity.
31.000.000 Lawyers' Title Insurance & Trust, $4,000,000; Columbia, $1,000,000;
Standard, $1,000,000; People's, $1,000,000; New York, $3,000,000; Franklin.
$1,500,000; Lincoln, $1,000,000: Metropolitan, 52,000,000: total, $35,125,000.
SUMMARY COVERING BOTH BANKS AND TRUST COMPANIES.
Week
ending
Aug. 19
Capital. !Surplus.
Loans.
Specie.
On Dep.
Legal with C.H.
Net
Teiulers. Banks. Deposits.
Averages.
1
$
1,393,941,0
Banks .._135.150.0190,141,3 1,351,356,0300,970,0 78,549,0
Trust cos..! 35,125,0 91,029,9 587,022,0 56,340,0 6,867,0 65,327,0 416,291,0
Total _ 170,275,0 281,171,2 1,938,378,01357,310.01 85,416,0 65,327,0,1,810,232,0
Actual. I
1.344,136,0304,394,01 78,604,0
Banks __ _I
11,390,105,0
583,319,0 55,635,0, 6,872,0 65,769,0 416,976.0
Trust cos_
1.927.455,0360.023,0 85,476,0 65,769,01,807,081,0
Total_
The State Banking Department also 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
Statement of New York City Clearing-House Banks ati-cl New York) and those for the rest of the State, as per the
Trust Companies.—The detailed statement below shows the following.
condition of the New York City Clearing-House members
For definitions and rules under whichi the various items
for the week ending Aug. 19. The figures for the separate are made up, see "Chronicle," V. 86, p. 316.
case of
banks are the averages of the daily results. In the
the totals, actual figures at the end of the week are also given.
For definitions and rules under which the various items are
made up, see "Chronicle," V. 85, p. 836, in the case of the
banks, and V. 92, P. 1607, in the case of the trust companies.
DETAILED RETURNS OF BANKS.
We omit two ciphers (00) In all cases.
STATE BANKS AND TRUST COMPANIES.
Week ended Aug. 19.
Capital as of June 7
Banks.
003 omitted.
Capital. Surplus.
--$
2 000,0 3,680,6
Bank of N. Y
2,050,0 4,413,4
Manhattan Co
2,000,0 1,951,8
Merchants' ___
Mech.& Metals 6.000.0 8,230,1
1,500,0 6,134,4
America
25,000,0 24,969,9
City
3,000,0 6,641,0
Chemical
600,0
579,5
Merchants' Ex
1,000,0 2,506,5
Gallatin
156,4
300,0
Butch.& Drov.
874.5
500,0
Greenwich
5,000,0 4,416,4
Amer. Exch._
Commerce__ _ _ 25,000,0 15,161,7
3,000,0 2,727,2
Mercantile
936,8
500,0
Pacific
Chath. & Phen 2,250.0 1,105,4
470.9
200,0
People's
3,000,0 12,620,6
Hanover
2,550.0 1,847,8
Citizens' Cent_
564,1
500,0
Nassau
Market & Fult 1,000,9 1,788,8
Metropolitan . 2,000.0 1,572,3
Corn Exchange 3,000,0 5,557,8
Imp.& Traders 1.500,0 7,735,6
5,000,0 12,911,4
Park
101,4
250,0
East River_
5,000,0 5,675,3
Fourth
1,000,0 2,244,9
Second
10,000,0 20,903,7
First
Irving Exch._ 2,009,0 1.897.6
794.9
250.0
Bowery
500.0 1.758.3
N. Y. County..
717,7
750,0
German-Amer.
5,000.0 8.440,1
Chase
100,0 2,227.3
Fifth Avenue_
888,4
200.0
German Exch.
200,0 1,011,2
Germania
1,000,0 1,632,5
Lincoln
1,000,0 1,242,4
Garfield
532,8
250,0
Fifth
1,000,0 2,145,7
_
Metropolis
200,0 1,064,0
West Side_ _ 1,000,0 2,049.3
Seaboard
1,000.0 2,717,7
Liberty
797,4
1.000,0
N. Y. Prod.Ex
967,5
1,000,0
State
326,7
1,000,0
Security
435,0
1,000,0
Coal & Iron ._
951,6
1,000,0
Union Exch_
1,000.0 1,000,0
Nassau, Bklyn
--Totals, Avge_ 135,150,0 190,141,3
Actual figures Aug. 19_
Specie. Legal,. Net Depos- ReAverage. Average. its. Aver. serve.
-----$
$
$
20,327,0 3,838,0 1,066,0 18,301,b 26.6
34,500,0 8,381.0 1,569,0 39,500.0 27.3
20,570,0 3,950.0 1,489,0 21.121,0 31.6
54,634,0 11,951,0 1,547.0 52,879,0 27.1
27,056.0 4,873,0 2,140,0 27,591,0 26.9
186,583,0 54.393,0 5,850,0 197,030.0 29.2
31,042,0 5,845,0 1,762,0 29,179.0 25.6
6,914,0 1,784,0
7,312,0 27.4
227,0
7,017,0 26.0
449,0
8,801,0 1,349,0
2.269,0 26.0
2,312,0
63,0
478,0
9,157,0 25.6
8.059,0 2,132,0
220,0
41,789,0 6,750,0 3,506,0 40.539,0 26.6
141,176,0 25,089,0 8,829,0 121,644,0 28.1
14,342,0 1,975,0
960,0 11,188,0 27.7
3,456,0 27.9
4,0)9,0
432,0
401.0
16,024,0 3,053,0
920,0 15,840,0 24.4
1,782,0
2,233,0 27.2
399,0
152,0
67,385,0 17,185,0 4,727,0 77.357,0 28.3
22,547,0 5,080,0
621,0 21,895,0 25.5
9,339,0 1,497,0 1,240,0 10,891,0 23.3
9,011,0 1,151,0 1,115,0
8,872,0 25.6
11.461,0 2,719,0
254,0 11,702,0 25.4
47,519,0 8,905,0 5,413,0 56,580,0 25.9
26,283,0 4,460,0 1,550,0 23,831,0 27.2
85,896,0 21,016,0 1,556,0 80,603,0 25.0
1,469,0
1,616,0 25.7
289,0
121,0
36,398,0 7,095,0 2,810,0 39,382,0 25.3
13,473,0 3,201,0
123,0 13,015,0 25.4
115,459,0 26,924,0 2,935,0 110,480,0 27.2
24,273,0 4,424,0 2,384,0 26,205,0 25.0
3,398,0
806,0
3.516,0 25.1
59,0
3,424,0 1,323.0
8,389,0 22.5
661.0
4,263,0
4,031,0 24.9
802,0
217,0
85,039.0 25,534,0 8,185,0 104,394,0 35.1
12,855,0 2,715,0 1,0261 , 14,550,0 25.5
3.640.0
321,0
3,688,0 25.4
635,
5,536,0 1,187,0
6,525,0 25.4
503,
15.325,0 2,89(1,0 1,317,0 10,367,0 26.1
8.537,0 1,674,0
8,577,0 27.1
5:31,0
3,581,0
361,0
716,0
4,027,0 25.6
12,484,0 1,162,0 1,983,0 12,521,0 24.8
4,424,0
4,980,0 25.1
997,0
229,0
21,277,0 4,657.0 2,202,0 25.215,0 23.5
18,296,0 3,805,0 1,125,0 19,001,0 23.9
8,540.0 2,318,0
400,0 10,247,0 25.7
15,868,0 4,622,0
330,0 19,952,0 24.9
6,317,0 1,316,0 • 540,0
7,359,0 26.1
6,059,0 1,122,0
6,255,0 26.5
451,0
9,314,0
811,0 1,477,0
9,342,0 27.9
7,606,0 1.533,0
7,208,0 26.2
287,0
-1351,356,0 300.970,0 78,519,0 1393,941,0 27.2
-1344.136,01301,394,0 78,604,0 1390,105,0 27.5
Loans.
.4 Derage.
Circulation.—On the basis of averages, cireulation of national banks in the
Clearing House amounted to 848.137,000, and accord ng to actual figures was
848.388,000.
Trust Cos.
State Banks
Trust Cos.
State Banks
outside of
outside of
in
in
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
$
23,275,000
62,206,000
38,912,100
9,453,000
$
9,525,000
178,697,600
11,631,137
11,999,889
Loans and investments_ _
Change from last week..
291,366,000 1,138,244,300
—4,355,200 —3,037,900
99,938,500
+494,900
153,792,000
+618,300
Specie
Change from last week_
50,182,600
—1,327,900
115,620,300
—644,900
Legal tenders & bk. notes
Change from last week
23,586,500
—494,800
11,354,700
—129,800
Surplus as of June 7
Deposits
Change from last week_
342,241,600 1,247,416,500
—6,814,300 —2,720,000
106,529,300
+369,000
161,765,900
—775,700
Reserve on deposits
Change from last week_
95,398,500
—2,221,700
135,365,700
—1,443,200
22,200,400
—73,800
23,108,600
—1,103,400
P. C. reserve to deposits....
Percentage last week
28.1%
28.2%
16.3%
16.4%
21.8%
21.9%
15.0%
15.7%
+ Increase over last week. — Decrease from last week.
Note.—"Surplus" includes all undivided profits. "Reserve on deposits" includes,
for both trust companies and State banks, not only cash items but amounts due
from reserve agents. Trust companies in New York State are required by law to
keep a reserve proportionate to their deposits, the ratio varying according 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 thirty days,
represented by certificates, and also exclusive of deposits secured by bonds or
obligations of the State or City of New York, and exclusive of an amount equal to
the market value (not exceeding par) of bonds or obligations of the State or City
of New York owned by the bank or held in trust for it by any p Wolfe department.
The State banks are likewise required to keep a reserve varying according to location, the reserve being computed on the whole amount of dep osits exclusive of time
deposits not payable within thirty days, represented by certificates (according
to the amendment of 1910) and exclusive of deposits secured (according to amendment 01 1911) by bonds or obligations of the City or State of New York, and exclusive of an amount equal to the market value (not exceeding par) of bonds or
obligations of the State or City of New York owned by the company or held in trust
for it by any public department.
—Trust Cos.—
—State Banks—
Total
Total
Of
Reserve Required for Trust Companies
Of
Reserve
which Reserve
which
and State Banks.
Location—
Required. in Cash. Required. in Cash.
15%
15%
25%
15%
Manhattan Borough
10%
10%
20%
Brooklyn Borough (without branches in aianhat.) 15%
10%
15%
Other Boroughs(without branches in Manhattan) 15%
7%%
20%
20%
Brooklyn Borough, with branches in Manhattan_ _ L5%
15%
Other Boroughs, with branches in Ma.nhattan— -15%
15%
15%
15%
10%
5%
15%
6%
Elsewhere in State
The Banking Department also undertakes to present sepa-
and
not in the Clearing
rate figures indicating the totals for the State banks
trust companies in the Greater New York
House.
These figures are shown in the table below, as are
also the results (both actual and average) for
the Clearing-
Lxxxxm.
THE CHRONICLE
510
House banks and trust companies. In addition, we have
Boston and Philadelphia Banks.-Below is a summary of
combined each corresponding item in the two statements, the weekly totals of the Clearing-House banks of Boston
thus affording an aggregate for the whole of the banks and and Philadelphia:
trust companies in the Greater New York.
We omit two ciphers(00)in all thesefigures.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Clear.-House Clear -House State Banks & Total of all
Week ended Aug. 19- Members.
Members. Trust Cos. not Banks &Trust
AaualFigures
Average. in C.-H. Aver. Cos. Average.
Capital as of June 7_ _ -
170,275,000
170,275,000
Surpl
281,171,200
281,171,200
as of June 7_ _ _
35,156,000
205,431,000
93,638,100
374,809,300
Loans and investments 1,927,455.000 1,938,378,000
Change from last week -23,621,000 -24,924,000
630,728,700 2,569,106,700
+154,400 -24,769,000
Deposits
1,807,081,000 1,810,232,000
Change from last week -8,150,000 -13,906,000
a629,126,900 2,439,358,900
-1,743,300 -15,649,300
Specie
Change from last week
360,029,000
+4,789,000
357,310,000
+5.364,000
65,381,800
-13,300
422,691,800
+5,350,700
Legal tenders
Change from last week
85,476,000
+1,238,000
85,416,000
+1,172,000
b11,953,500
-342,700
97,369,300
+829,300
Banks: cash in vault
Ratio to deposits --
382,998,000
27.55%
379,519,000
27.23%
13,563,300
13.70%
393,082,300
Trust cos.: cash in vault
62,507,000
63,207,000
63,772,000
126,979,000
Aggr'te money holdings
Change from last week
445,505,000
+6,027,000
442,726,000
+6,536,000
77,335,300
-356,000
520,061,300
+6,180,000
Money on deposit with
other bks. & trust cos.
Change from last week
65,769,000
-125,000
65,327,000
+1,272,000
22,993,000
-170,700
88,320,000
+1,101,3Q0
Total reserve
Change from last week
511,274,000
+5,902,000
508,053,000
+7,808,000
100,328,300
-526,700
608,381,300
+7,281,300
Surplus CASH reserve:
Banks (above 25%)..
Trust cos.(above15%)
35,471,750
clef.39,400
31,033,750
763,350
Total
Change from last week
35,432,350
+8,579,400
31,797,100
+10,203.600
/
3
4 of cash reserves of tr ust cos.Cash in vault
14.99%
Cash on dep. with bks.
13.62%
Total
28.61%
Banks.
Boston.
July 29....
Aug. 5..
Aug. 12__
Aug. 19_ _
Phila.
July 21L.
Aug. 5._
Aug. 12...
Aug. 19.. _
Capital
and
Surplus.'
Loans.
41,350,0
41,350,0
41.350,0
41,350,0
225,073,0
227,201,0
225,220.0
222,513,0
60,105,0
60,105,0
60,105,0
60,105,0
281,643,0
283,238,0
283,296,0
281,800,0
i 15.30%
1.25%
28.74%
16.55%
Legals. Deposits. a Circulation.
29,231,0
27,177,0
25,854.0
25,842,0
4,100,0
3,933.0
4,117,0
4,093,0
Clearings.
$
$
84,138,0
80,962,0
76,747.0
77,351,0
270,521,0
272.120,0
268,840,0
266,392,0
7,058,0
7,065,0
7.076,0
7,040,0
138,330,6
158,729,5
142,170,7
151,092,3
342,385,0 15,317,0
341,676,0 15.315,0
335,038,0 15,338,0
334,370,0 15,323,0
129,322,1
148,713,3
132,203,1
131,632,8
a Includes Government depos ts and the item "d le to other banks." At Boston
Government deposits amounted to $3,066,000 on Aug. 19, against $3,069,000 on
Aug. 12.
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Aug. 19; also
totals since the beginning of the first week in January.
FOREIGN IMPORTS AT NEW YORK.
For week.
I
Dry Goods
General Merchandise
1911.
1910.
Total
Since January 1.
Dry Goods
General Merchandise
1909.
$3,056,034
13,122,131
$2,828,702
13,197,414
1908.
$2,994,153
12,085,810
$2,693,301
9,586,617
$16,026,116 $16,178,165 $15,079,963 $12,279,918
$88,515,246 $100,413,906 $109,105,639 $75,457,091
463,136,283 495,842,201 437.567,708 312,916,052
Total 33 weeks
15.18%
13.56%
Specie.
$551,651,529 $596,256,107 $546,673,347 $388,373,143
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. 19 and from Jan. 1 to date:
EXPORTS FROM NEW YORK.
+ 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 $723,753,600, an increase of $224,100 over last week. In the
CAW of the Clearing-House members, the deposits are "legal net deposits" both for
the average and the actual figures. b Includes bank notes.
1910.
1909.
1911.
1008.
--------------$14,306,402 $12,106,366 $10,095,553 $11,918,878
475,817,298 405,180,155 383,448.942 400,753,25C
-------------------$490,123,760 $417,286,521 $393,514,495 $412,672,128
For week.
For the week
Previously reported
Total 33 weeks
The averages of the New York City Clearing-House banks
The following table shows the exports and imports of
and trust companies, combined with those for the State banks
and trust companies in Greater New York outside of the specie at the port of New York for the week ending Aug. 19
Clearing House, compare as follows for a series of weeks past: and since Jan. 1 1911, and for the corresponding periods in
1910 and 1909:
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
EXPORTS AND IMPORTS OF_SPECIE AT NEW YORK.
We omit two ciphers in all thesefigures.
Week
Ended.
•
Loansand
Investments. Deposits.
-----
fold.
Tot.'Money Emire Res.
Holdings. on Deposit.
---- Great Britain
$
France
94,366,0 641,565,3 626,396,0 Germany
June 17__ 2,570,795,8 2,462,954.7 447.199,3
95,680,3 551,048,9 (151,096,9 West Indies
June 24... 2,583,113,7 2.477,504,5 455,368,6
96,141,7 550.679,9 649,489,1 Mexico
July 1.... 2,595,834,8 2.490.20,0 454,538,2
96,189,0 515,103,6 609,318,6 South America
July 8.. 2,646,480,3 2.509,243,7 418,414,6
July15.... 2,648,893.6 2,513,515,5 414,547.0
98,247,0 512,794,0 599.389,3 All other countries
July 22... 2,637,371,8 2,506,532,8 419,087,8
98,579,5 517,667,3 602,767,4
July29- _ 2,630,973,8 2,498,608,1 420,745,3
97,700,6 318,451,9 606,792,3
Total 1911
Aug. 5... 2,624.434,0 2,483.768,1 416,051,2
96,813,6 512,864,8 602.621,5
Total 1910
Aug. 12_ _ ,593,876,3 2,'
„ 417,341.1
96,540,2 513,881,3 601,100,0
Total 1909
Aug. 19. 2,569,106,7 2,439,358.9 422,691,8 97,369,5 520,061,3 608,381,3
Silver.
Reports of Clearing Non-Member Banks.-The following is Great Britain
France
the statement of condition of the clearing non-member banks Germany
West Indies
the week ending Aug. 19, based on average daily results: Mexico
South America
We omit t co ciphers(00)in all thesefigures.
All other countries
Specie.
Legals.
for
Banks.
Capi-
Sur-
tat,
plus.
Legal
On
Loans.
Tender Deposit
Disc'f,t
and
with
Net
Specie, and
InvestBank
Deposits.
meets.
Notes. Banks.
New York City.
Manhattan & Bronx.
$
s
$
$
$
Washington Heights_ 100,0
291,2 1,356,0 141,0
42,0
156,0
Century
127,8 1,528,0
250,0
43,0 188,0
124,0
Colonial
433,4 5,996,0 883,0 331,0
400,0
867,0
Columbia
796,5 6,656,0 587,0 546,0
300,0
589,0
Fidelity
182,2 1,025,0
200,0
42,0 114,0
120,0
Jefferson
533,3 4,297,0 454,0 266,0
265,0
500,0
Mount Morris
36,0
250,0
339,9 2,722,0 483,0
386,0
Mutual
401,8 3,472,0
15,0 666,0
200,0
513,0
Plaza
100.0
473,7 3,964 0 338,0 404,0 1,113,0
90,0
Twenty-third Ward._ 200,0
281,0
105,8 1,857 0 238.0
Yorkville
611,0
100,0
502,3 4,073,0
50,0 835,0
New Netherland
87,0
200,0
209,0
273,3 2,434.0 264,0
Battery Park Nation'l 200,0
48,0'
102,0
143,8 1,353,0 312,0
Aetna National
300,0
27,0
111,0
309,2 2,162,0 534,0
Brooklyn.
Broadway
200,0
399,0
554,0 2,980 0 326 0 231,0
Manufacturers' Nat- 252,0
993.0
856,7 5,638,0 647,0 177,0
Mechanics'
1,000,0
918,6 10,928,0 291,0 1,748,0 1,848 o
National City
300,0
616,0
598,0 4,019,0 374,0 249,0
North Side
200.0
366,0
101,7 1.968,0 182,0
93,0
First National
300,0
641,2 3,598,0 412,0
398,0
94,0
Jersey City.
First National
400,0 1,287,6 5,368,0 291,0 306,0 2,796,0
Hudson County Nat'l 250,0
775,1 3,099,0 308,0
73,0
414,0
200,0
Third National
411,2 2,038,0 120,0 185,0
567,0
to
Hoboken.
220,0
632,4 3,508,0 225,0
First National
61,0
307,0
125,0
277,9 3 048.0 159,0
3econd National
38,0
239,0
,..
-------Totals Aug. 19........ 6,747,0 12,028,6 89,127,0 7,719,0 6,940,0 14,153,0
Totals Aug. 12
6,747,0 12,028,6 89,316,0 7,582,0 7,553,0 14,145.0
Totals Aug. 5-....-,13,747.0 12,028,6 89,521,0 7,507,0 7,151,0 13,855.0
Exports.
Week.
$5,000
Imports.
Since Jan.1
$2,500
1,665,930
$4,895
468,810
55,732
61,748
1,088,561
172,250
Since Jan.1
$73,067
474,445
2,578
1,215,097
3,896,147
2,141,344
1,396.502
$5,000 $2,930,241 $591,185 $9,199,380
50,200 44.543,853 4,215,406 19,003,438
94,533 6,392,236
1,250,000 76,120,182
$429,079 $29,672,143
147,134 1,929,734
167,149
89,008
$226
20,401
6,248
61,102
70,794
$576,213 $31,884,683
668,949 27,868,495
675,990 29,627,236
Total 1911
Total 1910
Total 1909
Week.
$170,928
7,823
19,987
34,491
2,519,564
1,095,601
1,085,295
$125,122 $4,933,679
55,841 2,602,517
56,659 3,311,270
Of the above imports for the week in 1911, $15,150 were
American gold coin and $226 American silver coin.
1,090,0
1,429,0
7,221,0
7,317,0
977,0
4,129,0
3,434,0
3,710,0
4,100,0
2,028.0
4,641,0
2,374,0
1,384,0
2,257.0
2,956.0
5.245,0
12,844 0
4,033,0
1,974,0
3,224,0
4,372,0
2,381.0
1,800,0
1 669,0
1,314,0
87,903.0
89,079,0
38,533,0
ManIting and financiaL
Diversify Your Investments
Write for our circular entitled "Judicious Investment," which
treats the above subject In detail.
Spencer Trask & Co.
43 EXCHANOE PLACE.... NEW YORK.
Boston, Mass.
Chicago. 111,
Albany, N. Y.
Members New York Stock Exchange,
WHITE, WELD & CO.
5 NASSAU STREET:
NEW YORK
TIIE ROOKERY
CHICAGO
THE CHRONICLE
AUG. 26 1911.]
tanhcfrrs' Gazeitt,
Wall Street, Friday Night, Aug. 25 1911.
The Money Market and Financial Situation.—If any one
held the opinion that securities had last week reached a
turning point in their downward movement, such person now
sees how easily one may be mistaken. That movement was
resumed this week and, as noted somewhat in detail below,
a considerable list of prominent stocks have sold at the lowest
prices of the year.
There have been no new developments to cause this further
decline, if we except the labor agitation on some of the trunk
lines. This is regarded by officials of these lines as a serious
matter and has undoubtedly been the principal reason for
increased liquidation this week. It is a significant fact,
moreover, that railroad bonds have participated in the decline during the last few days to a greater extent than at any
previous time since the movement began.
On the other hand, the latest news from abroad indicates
that the strike in England, which caused so much disturbance
and apprehension last week, has been practically settled.
The Moroccan situation is, however, causing more or less
uneasiness, although financial matters seem to be little
affected thereby. The great European banks are apparently
well prepared, intentionally or otherwise, for any emergency
that is likely to arise. Both the Bank of England and the
Bank of France show substantially increased gold holdings,
and the former reports a percentage of reserve fractionally
over 57, which at this season has been exceeded but once in
recent years. The local money market presents no new
features of interest.
The open market rate for call loans at the Stock Exchange
during the week on stock and bond collaterals has ranged
from 1% to 23/2%. To-day's rates on call were 2(4),23%.
Commercial paper quoted at 4@432% for 60 to 90-day endorsements,4h@43%% for prime 4 to 6 months'single names
and 5% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £849,820 and the percentage
of reserve to liabilities was 57.13, against 55.91 last week.
The rate of discount remains unchanged at 3%, as fixed
March 9. The Bank of France shows an increase of 7,250,000
francs gold and a decrease of 1,625,000 francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
(Not including Trust Companies.)
--Capital
Surplus
Loans and discounts
Circulation
Net deposits
Specie
Legal tenders
Reserve held
25% of deposits
gnrnhla romorvam
1911.
Averages for
week ending
Aug. 19.
Differences
from
previous week.
1910.
Averages for
week ending
Aug. 20.
1909.
Averagesfor
week ending
Aug. 21.
$
$
$
s
132,350,000 127,350,000
135,150,000
189,131,400 174,754,000
190,141,300
1,351,356,000 Dec. 21,708,000 1,237,794,000 1,351,995,700
47,048,600
486,000
48,137.000Inc.
50,586,800
1,393,941,000 Dec. 15,817,000 1,274,781,700 1,406,589,000
300,970,000 Inc. 6,049,000 300,766,100 296,372,700
70,761,900
78,549,000 Inc. 1,271,000
76,003,700
379,519,000 Inc. 7,320,000
348,485,250 Dec. 3,954,250
371,528,000
318,695,425
372,376,400
351,647,250
21 (I22 Iinn T....• 11 n.s. nen
en 0,1 ric
0A ,Oft Inn
•
,
511
State and Railroad Bonds.—Sales of State bonds at the
8;
Board include $364,000 New York 4s, 1961, at 103 to 1033/
$10,000 New York 4s, 1960, at 1033'; $10,000 New York
canal 4s, 1961, at 1033; $4,000 Tennessee settlement 3s at
973/i and $1,000 Virginia 6s deferred trust receipts at 50.
The market for railway and industrial bonds has been exceptionally dull and prices have had a sagging tendency. On
at least two days of the week the total transactions amounted
to only about $1,200,000, par value, and this total would
have been considerably smaller but for relatively heavy
transactions in a few issues. Thursday's market was byfar
the most active of the week, and the movement of prices indicated more or less urgent liquidation. There has been,
however, some recovery in many cases from the lowest prices
then made. The American Tobacco and Atchison issues
have been the conspicuous features of the market throughout the week.
United States Bonds.—Sales of Government bonds at the
Board include $46,500 Panama 3s at 1023g to 1023., $5,000
4s coup. at 113%,$5,000 4s reg. at 113% and $1,000 3s coup.
at 101%. The closing prices have been as follows;for yearly
range see third pagefollowing.
Interest
Periods
registered,Q—Jan
2s, 1930
coupon Q—Jan
2s, 1930
3s, 1908-18.....__registered Q—Feb
coupon Q—Feb
3s, 1908-18
registered Q—Feb
4s, 1925
coupon Q—Feb
4s, 1925
Is, 1936_Panama Canal regis Q—Feb
Is, Pan.Canal when Issued__ ______
Aug.
19
Aug.
21
Aug.
22
Aug. Aug. Aug.
23
24
25
— --*1003,1 *1005,1 *100M *1003,1 *100M *100M
*10051 *100M *1003,1 *1003,1 *10051 *100%
*1013 *1013 *10154 *1013 *1013. *1013'
*10131 1013 *101M *101M *101M *101M
*1133,1 *1135,1 1133,1 13,*
*1133,1 •I135i
*1135,1 *1133,1 1133,1 *11351 *1133,1 *1135(
*100 *100 *100 *100 *10034 *1003i
102M *1023,1 *10251 1023
% *1023,1 10251
*This is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.—The recovery of the
stock market noted at the close last week continued in a
somewhat modified form through Saturday, but on Monday
the market again weakened, further liquidation followed,
and out of a list of 25 active stocks more than half have established a new low record for the year.
Fluctuations for the entire list have not averaged as wide
as last week, but a few, including Union Pacific and Canadian Pacific, have covered a range of 6 points and upwards,
and several others, among them Northern Pacific, Southern
Pacific and Reading, an average of 4 points or more. Liquidation continued in full force to-day and in many cases the
lowest prices of the week and of the year were recorded.
The industrial group generally followed the course of the
railway list. Steel common sold in considerable quantities
to-day fractionally below 70, and the preferred touched 114.
the lowest since August last year. The Texas Co. sold at
88% to-day, against 112 at the end of July.
For daily volume of business see page 519.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending Aug. 25.
Sales
for
Week.
Rangefor Week.
Lowest.
Highest.
Range since Jan. 1.
Lowest.
Amer Tel & Tel rights__ 15,060 551 Aug 24'S 13-16Aug19 551
Batopilas Mining
400 $141 Aug 25 $IM Aug 22 513,1
Detroit &
100120 Aug 23 120 Aug 23 100
Preferred
100120 Aug 22 120 Aug 23 100
General Chemical
100,x128 MAug 22 x128 MAug 22 100
Preferred
200 107 Aug 24 107 Aug 24 1033,1
Rome Water & .0gdensb
1011551 Aug 2111551 Aug 21 11551
St Lou & S F-0& E Ills
new stock trust certfs_
25 54 Aug 25 54 Aug 25 54
Standard Milling
100 15 Aug 25 15 Aug 25 15
Highest.
Aug 711,
Aug $2%
May 1203.1
May 120
Jan 135
Jan 1083,1
Aug 121
June
Jan
July
Aug
Feb
Aug
Apr
Aug 62
Feb
Aug 173-,1 June
Outside Market.—The "curb" market's chief characteristic
was the heavy tone which prevailed throughout the week,
losses being general though business was very light. American Tobacco, after an early gain of a point to 378, sagged to
366, the close to-day being at 370. Houston Oil common
Foreign Exchange.—The scarcity of bills has held foreign rose from 95% to 9%, receded to 8% and closed to-day at 9.
exchange firm. After opening with slightly easier quota- The preferred sold down from 74 to 70. Intercontinental
Rubber common advanced about a point to 253
4 and
tions, rates strengthened as the week progressed.
To-day's (Friday's) nominal rates for sterling exchange were 4 84 M for dropped to 233. Standard Oil sold up from 596 to 605 and
sixty-day and 4 86 M for sight. To-day's actual rates for sterling exchange reacted finally to 593. Studebaker Corp. common declined
were 4 83 M(P4 83 34 for sixty days, 4 8005@4 8615 for cheques and 4 8645 from 593/i to 58, and to-day, on heavy transactions, broke
®4 8655 for cables. Commercial on banks 4 83 H ® 4 83 M and documents
for payment 4 83 M ®4 8351. Cotton for payment 4 83@4 833'. and sharply to 533, the close being at 54. Bonds were dull.
grain for payment 4 83 M ®4 835,1
Chicago Elevated Ry. 5s sold at 98. Great Northern 43.s
To-day's (Friday's) actual rates for Paris bankers' francs were 5 2134 less
1-16 ® 5 21 X less 1-32 for long and 5 19 M less 1-32 ® 5 1954 for short. went up from 101 to 1013j and down finally to 1013'. Illiwere
94
7-16@94
0-16
bankers'
marks
Germany
for long and 94 15-113 less nois Steel 432s declined from 94% to 943. N. Y. West1-32@94 15-16 for short. Amsterdam bankers' guilders Were 40 16®
chester & Boston Ry. 434s sank from 973. to 96% and re40 17 for short.
London,
25f.
on
25
Xe.; week's range, 25f. 273c covered to 973'. Oregon-Wash. RR. & Nay. 4s sold off
Exchange at Paris
high and 25f. 24 Xc. low
4 and back to 91%. Activity in copper
Exchange at Berlin on London, 20m. 49 Hof.: week's range. 20m. 49 Mpf. from 91% to 913
high and 20m. 4754 pf. low.
shares was centered in a few issues. Braden Copper adThe range of foreign exchange for the week follows:
vanced from 4% to 53', reacted,and sold finally at 4 11-16.
Sixty Days.
Cheques,
Sterling Actual—
Cables.
4 8615
High for the week_ _ _4 83 M
British Columbia advanced from 4 to 4%, weakened to 3%
4 86 M
4 8595
Low for the week_ _ _4 83 M
4 8620
and was traded in to-day at 4. Butte Coalition, after losing
Paris Bankers' Francs—
high for the Week _5 21 X less 1-32 5 10 N
about half a point to 153. , dropped to-day to 14. Active
5 1851 less 3-64
Low for the week_ _ _5 21 14 less 1-32 5 20
5 19 M less 1-16
selling of Giroux,presumably on reports of a fire at the comGermany Bankers' Marks—
pany's property, caused a loss of a point to 4,the final figure
MO for the week__ _ 94 9-16
94 15-16
95 plus 1-32
Low for the week__ 94 7-16
0431
95 less 1-32
to-day being 4%. Greene Cananea lost about half a point
_Amsterdam Bankers' Guilder.s—
to 6 and closed to-day at 63.. Inspiration was an active
40 17
High for the week__ _ 40 1-16
40 21
40 13
Low for the week__ 40
40 17
feature and advanced from 63
4 to 7%, but reacted to 634•
DOMESTIC EXCHANGE.—Thl following are the rates for domestic Kerr Lake sold up from 4% to 43
4and clown to 43', the close
exchange at the undermentioned cities at the close of the week: Chicago,
be, per $1,000 discount before clearing. Boston, par. New Orleans, to-day being at 43j. La Rose Consolidated fluctuated becommercial, 50e. per $1,000 discount: selling, nar. Charleston, buying, tween 33
4 and 3%. Nipissing fell from 83. to 7% and finpar; selling, 1-10% per $1,000 premium. San Francisco, 20e. per 51,000
4.
premium. St. Louis, 5c. per $1,000 discount. St. Paul, 15c. per $1,000 ished to-day at 73
premium.
Outside quotations will be found on page 519.
Note.—The Clearing House now issues a statement weekly showing the actual
condition of the banks on Saturday morning, as well as the above averages. These
figures, together with the returns of the separate banks and trust companies, also
the summary Issued by the State Banking Department, giving the condition of
State banks and trust companies not reporting to the Clearing House, appear on the
second page preceding.
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
OCCUPYING TWO PAGES
STOCKS-HIGHEST AND LOWEST SALE PRICES.
Saturday
'Aug 19
Monday
Aug 21
Tuesday
Aug 22
Wednesday
Aug 23
2'hursday
Aug 24
Friday
Aug 25
WO Of
the
Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
Range since January 1.
On basis of 100-share tots.
Lowest.
Highest.
Range for Previous
Year 1910.
Loosest.
Highest.
Railroads
9034 J'ly 1244 Jan
10412 106
10438 10533 10312 10412 103 10414 60,060 A tch Topeka as Santa Fe 1004 Jan 3 11658 J'ne 5
.10638 10638 105 106
10034 Jan 3 10512 J'ne 12 x97 J'iy 10414 Jan
10112 10112 10118 10108 101 101 510134 10134 1,115 Ix Do pref
*10134 10214 10134 102
12234 123
12312 12312 123 12334 122 123
2,400 Atlantic Coast Line RR- _ 117 Jan 3 13212 J'ly 19 10212 J'ly 13712 Jan
121 121
12118 122
99/
1
4 Aug 25 10934 J'ly 14 10014 Sep 11918 Jan
10134 10212 100 10158 10014 101
103 103
10014 10034 9978 10,333 12,670 12attlmore & Ohio
87 Aug 3 91 Jan 4
8714 Sep
8712 *85
94 Jan
8712 *85
*85
8712 *84
87
1.-5 Do pref
87
*86
87 *85
6812 Feb
• 7614 763
8238 M3y
754 76
7512 7614 7534 76
7512 7458 7214 7,900 Brooklyn Rapid Transit_ 7412 Aug 12 8458 J'iy 20
75
19534 Jan 3 247 J'iy 21 17634 Feb 20238 Nov
236 23712 23412 23614 23014 23434 232 23312 23012 23238 23118 23234 48,323
lanacilan Pacific
62 MO 3 569 May18
6012 J'ly
*____ 7214 *____ 72'
70 jan
kJanada Southern
7214
_ 70
70
70
220 Aug24 285 Feb 21 248 J'ly 312 Jan
*265 280 *265 280 *265 275 *265 275
220 Central of New Jersey
260 260 *230 270
65 Aug
7138 Aug25 8634 Feb 8
92 Jan
7512 7512 7334 7433 7314 7412 7334 74
7234 7334 7153 7212 19,400 Chesapeake ec Ohio
2378 J'ly
___ 30 *___ 30 *____ 30
6634 Jan
Chicago & Alton RR......_ 23 Apr 7 3118 May23
30
*12
30
*12
30
0478 J'no
52 Mehl', 53 Jan Ho
69 Apr
*40
50
Do prof
*40
50
50
*40
50
*40
*40
60
e40
50
19 J'ly
3678 Jan
20
20
1958 20
1912 1912 1912 1912 1913 1912 19
1912 2,100 Chic Gt West trust ctts„ 19 Aug25 2514 J'ne 5
40 J'ly
6418 Jan
38 Aug 16 4914 Feb 6
38
3824 3814 3814 *38
Do. pref trust etfs
*3812 3878 38
40
3812 1,800
39
*37
11538 116
38,750 Chicago Milw & St Paul _ 11134 Aug25 13312 Fob 7 11334 J'ne 15333 Jan
11134 113
11334 11534 11312 11404 114 11458 11238 114
146 Aug25 15512 Feb 2 143 Sop 17214 Jan
Do pref
*14812 15012 *147 150. *147 151 *147 151 *147 161
212
146 14612
142 142
14112 142
14012 14012 14112 14112 14012 14034 140 140,
8 3,200 Chicago & North Western 140 Aug 12 15012 J'ne12 13714 J'iy 18212 Jan
5200 Jan 4 8209 Jan 7 203 J'ne 225 Jan
*195 201 *195 201* *195 201 *195 205 *195 203 *190 201
Do prof
1
4 Apr 20 144 J'ne 12 140 Apr 16212 Feb
*132 140 *132 138 *132 140 *132 140 *132 140 3132 140
Chic St P Minn & Omaha 180/
152 Feb 18 5160 1fc1427 ;160 Apr 517014 Feb
*145 160 *150 155 *145 160 *145 160 2145 160 *145 160
Do pref
08 Dec
2 Apr 7
338 Feb 4
*2
533 Jan
3
2
3
4.2
2
100 Chic Un Trao otfs stmpd
*134 212 *2
334 *214 3
714 Feb 6
478 Sep
5 J'ne 2
1214 Jan
Do pref etfs stmpd
*5
7 ' *5
5
100
612 *514 6
5
*5
6
*434 6
61 Nov
9214 Mob
5112
• 5212 5212 *52
55
400 Cleve Cm n Chic & St L . 51 Aug25 66 Jan 18
*52
5212 5212 51
55 *52
55
99 Sep 104 Jan
9414 J'ly 8 93 Feb 1
Do prof
*9412 100. *94 100
- 100
100
9412 9412 *___ 100 *____ 100
4918 Aug25 60 Jan 18
40 J'ly
6534 Feb
*50
52
50
950 Colorado & Southern
50
4914 4914 *4918 4912 4918 4918
4934 50
7414 Meh27 82 J'ne30
70 J'ly
83 Mch
Do 1st preferred
*77
79
79
83
*77
80
250
73
*78
7712 7712 *77
78
70 Aug
7312 Jan 11 7512 Mch 2
81 Jan
Do 2d preferred
*72
75 *72
75
75
75 *70
75 *70
*70
*72
75
*164 137 3163 170
elawarc & Hudson._ 164 Aug 16 17473 J'ne 8 ..4914 J13, 185 Jan
900
1,5,1 168
16478 16512 164 165
165 165
claware Lack & West_ 610 Feb 9 560 J'ne 5 490 J'ly 620 bleb
*530 55) *530 550 *530 550 *530 550 *530 650'*530 550
2412 Aug 12 35 Feb 16
2314 J'iy
52 Jan
26
*241 25 *2312 25
23
25
25
25
825 Denver & Rio Grande
2434 2478 25
6253 J'ly
6213 Aug '5 74 Feb 21
Do pref
84 Jan
*53
55' *53
5338 5218 5212 1,467
55
5312 5312 53
5:334 54
1834 ,lan
934 Aug 5 1538 Meh.30
10 J'iy
*034 11
*934 112 . *934 11
*934 11
Duluth So Shore ec Atlan
*934 11
*934 II
17 Jig
1934 Aug 17 3018 121e1430
Do pref
7458 Jan
*1934 21
*1912 21
*19
*1912 21
1978 20
20
200
*1912 21
2714 Jan 11 3838 J'ly 1
1912 J'ly
3458 Jan
2978 3038 29
304 2834 3018 2912 3014 283.1 2914 2238 2834 39,800 1.21,rie
35 J'ly
5234 Mob
50
5118 4934 5038 4913 5014 4912 5018 484 4918 4718 48
16,075 -3•A Do 1st preferred_ 4658Jan 12 6114 J'iy 1
4934 J'ly 1
35 Jan
Do 2d preferred
2514 J'1Y
42 Men
41
41
2,470
4138 4034 4112 84034 4034 41
4034 41 • 3934 40
12114 Aug25 140 J'ne 8 118 J'ly 14378 Jan
21,650 Great Northern pref
12573 12634 12414 126
12334 12412 12414 12478 12313 12414 12114 123
45 Jig
Iron Ore
_ 4638 Aug 12 6134 Feb 2
8012Jan
98
2,200
4812 4812 4712 48
4714 4714 4714 4734 474 4713 48
1112 Aug 14 1514 Jan 17
11 Aug
W.deb ctfB
1818 Mch
1113 1/12 1112 1158 *1112 113., *1112 1134 *1112 1134 1112 1112
17 Green Bay &properties_8812 Jan
9314 .rly 22 9612 J ne 19
avana Electric
9712 Apr
*9312 ___ ......
*9312 --_
*9312
*9312 9511 *9312
9234 Jan 12 9314 J'ne30
92 May 99 11111
Do preferred
......
128 Meh24 134 Apr 29 112 J'ne 140 Oct
Hooking Valley
*HE" 120 '*115 120 3-_-_-_-_ 1-2-4.1-2-1*-_-_-_-_ 1-H132 Jan 3 147 J'ly 31 124 J'iy 147 Jan
13978 140
14012 14012 13978 14012 140 140
13812 13978 13814 13918 3,200 Illinois Central
14 Aug25 2038 Feb 10
1414 J'ly
1518
interboro-Metrop
v
t
cas
2512 Jan
15
1434
6,700
1614 1538 15
1538
14
1458
15
15
1538
4114 Aug 17 5633 J'ly 19
4112 J'iy
Do pref
6278 Jan
3,300
44
44
4112 4212 4134 4134 4138 4218 414 42
4214 43 ,
4012 Aug 17 5512 J'ly 19
Do pref vot tr otts
700
41
4138 4078 41
15 May12 19;3 Feb 3
16 J'ne
30 Jan
. *171 19 181 1812 *18 19 *18 19 *1712 18 *17 18
600 Iowa Central
23 Apr 24 37 Aug 3
25 J'iy
Do preferred
5914 Jan
36
300
36
3512 3512 3414 3412 *34
*34
*35
36
36
*33
,& M tr ctfs,pref 74 Apr 8 76 May 4
28 Aug
80 Feb
*73
80
80
80
*73
80
*73
80
*73
373
80 *73
23 J'iy
ansas City Southern_ _ 2834 Aug25 3738 J'ne13
4414 Jan
1,600
31
2958 293k, *2912 31
29
3014 3014 30
2912 2834 29
044Jan
3
6034 J'ac 13
preferred
53 Aug
Do
71 Jan
69
66
*66
69
66
326
69 • *66
*66
66
66
6512 6512
1212 Aug 17 1634 J'ne 16
15 J'ne
2534 Jan
like Erie & Western
15 *10
14
*10
13
13
*10
*11
*11
13
• *10
14
3714 Dec
27 Aug10 40 Jan 13
9234 Jan
u Do preferred
*25
30 *25
30
*25
30
*25
30
30
*25
30
*25
160 Aug25 18118 Fel. 2 17314 Dec 186 Nov
163 16514 16212 16434 16378 165
46,800 Lehigh Valley
16434 160
162 164
160 162
4078 Aug 4 63 Jan 18
60 J'ly
Long Island
7014 Apr
• *49
52
*49
52
*49
52
*46
52 *46
52
52 *48
14114 Aug25 150131 J'ly 19 13112 XII, 15933 Jan
3,002 Louisville & Nashville
1411,1 142
• 14412 14514 14373 14378 14312 14334 *143 144
142 143
F
iclev
sto
atd
z 134 hIch28 14212 Jan 19 12'3 J'ne 146 Oct
300
135 135 *135 13712 *135 137 *135 137 *135 13712 135 135
2112 Apr 26 3412 Aug 23
5334 Jan
23 J'12
3212 3212 *32
3234 33
3412 3412 3412 3412 344 3412 1,000
35 Mch 13 5412 Aug2., ' 40 Soo
80 Feb
Do preferred
4812 50
50
50
5134 5212 5212 5312 544 5112 2,764
50
53
1,950 Minn St 1' & S S Marie__ _ 13012 Aug25 16214 Meh30 114 J'ly 145 Men
135'4 13514 13418 13518 133 13312 132 13214 13034 13238 13012 131
Do preferred
14734 Jan 6 160 Men 30 144 3110 15512 Mch
*148 152 *150 155 *146 152 *146 152 *196 152 *146 14612
1,234 Jan
87123'1y b 9012 Mch lb x8614 Sep
Do -leased line ctfs
*88
90 *37
4.85
92
90
90
*87
90
*87
*87
90
27 J'Iy
2912 Aug 25 3818 J'ne 14
5118 Jan
3214 3212 31
5,400 Afo Kansas & Texas
31314 3112 3134 3114 3114 3018 31
2912 30
6312 Jan 16 09 J'nelO
67 J'ly
7458 Jan
*0514 68
*68
Do preferred
08
6514 6614 *6612 68
200
6612 6612
*6612 88
41 J'ly
90 Aug17 93 Feb 15
7358 May
4138 42
4014 4178 4012 4134 4114 42
4012 4114 4018 4012 12,710 Missouri Pacific
125 J'iy 140 Nov
*146 150 *145 160 *146 160 *146 160 *146 180
100 NT ash Chatt & St Louis_ 14011 Jan 19 163 J'ne
146 146
Feb
of
Jan
Aug23
26
60
Mex
1st
60
723
Rys
724 Nov
4
.
1
at
pref
65
100
60
60
*60
*---671r,
60
60
*62 . 64
*62
65
2614 Aug25 3833 Feb 13
2312 J'ly
Do 2d preferred..
3712 Nov
2614 2612
*233a 2914 *2812 2918 *28
600
28
2814 *28
2812 *27
10178 Aug23 11612 Feb 3 10518 J'ly 128 Mott
19,910 N Y Central & Hudson
• 10434 10514 104 10412 103 10412 10334 10412 10212 10334 10178 103
5512 May
521., Aug 24 65 Jan 13
6878 Nov
57
200 N Y Chic & St Louis
*5512 57
5212 55 *50
67
*55
57
57 *55
*55
100 Aug15 1014 Mch SO 5 101 J'ly 10934 Jan
Do 1st preferred
*95 102
*95 102 *95 102
*95 102
*95 102
*95 102
8212 Aug25 90 Jan 27
8234 Apr
Do 2d preferred
98 Jan
3212 8212
100
88
88
*82
*82
*82
88
*82
88
*82
88
/
4 Feb 23 140 Apr 162 Mob
710 NYNH & Hartford___. 133 Aug16 1511
134 134
13338 13358 133 13314
134 134
1341
/
4 13414 134 134
3812 Aug
50 Jan
3968 3,650 N Y Ontario & Western.. 39 Aug25 4078 J'ly 22
40
40
3973 40
40
4014 4012 40
3934 3934 39
10014 Jan 8 11014 .1'ne26
8812 J'ly 10868 Itch
10214 10258 102 10214 10078 10178 6,700 Norfolk & Western
• 104 104
1024 10414 10214 103
2534 Apr 18 9114 J'ne 8
88 Feb
Do adjustment pref
9114 Mob
92
92 *89
*89
92
150
*89
92
*90
90
9012 9012 190
4018 Doe
35 Feb
Northern Ohio Trao & Lt 3912 Jan 3 5412 Aug 15
*53
60 *50
60
*50
60
*50
60
60
*59
60 I *50
115:: Aug
137/
1
4 J'no 8 1114 Aug 14538 Jan
11811 11934 11838 11958 11718 11835 11512 11718 46,300 Northern Pacific
120 12114 118,
8 121
IOU Jan 11 102 Jan 10 100 Oct 11834 Jan
-11110/acille Coast Co
*88 105 *88 105 *88 105
*85 105
*80 105 *85 105
Do 1st preferred
*85 110
*85 110 *85 110
• *80 100
*85 110
*85 110
9934 J'ly 5 102 Jan 11 105 Feb 118 Jan
Do 2d preferred..
*90 105 *90 105 *90 105
*90 105
*80 105 *85 105
11933 Aug25 13013 Feb 2 12212 J'ly 13812 Mob
11938 12014 50,600 Pennsylvania
1194 121
12078 12114 12038 12114 12014 1214 12058 121
89 J'iy 10458 Mon
93 Aug In 100 Jan IT
94
100 Pittsb Cin Chic & St L..
94
*9334 0434 *90
*93
*9334 9434 94
94
*93
96
108 Aug 11 112 Feb 17 110 Oct 116 Meh
Do preferred
*102 115 *102 115 *102 115 *102 115 *102 115 *102 116
eading
13978 Aug25 16134 Feb 7 1304 J'ly 17214 Feb
145 14614 14318 14514 14258 14434 14312 14458 14112 14312 13978 142 465,900
83 Mch 1 92 J'ly 14 x85 Aug
9312 Feb
) 1st preferred
89
89
500 1-3
92
02
*90
92
*88
*88
92
92
*90
*90
37 J'ly 11012 Jan
9058 Aug10 101 Mow 2
2d preferred
9112 92
400
92
94
*92
*92
98
*92
98
92
95
*92
1
4 Aug 12 3433 J'ne 14
2278 J'iy
6714 Jan
2634 214 2618 27
2618 2678 26
2612 2533 2613 254 2538 17,850 Rook Island Company_ 24/
1,215 Apr
54 J'ly
Do preferred
4734 Aug 24 G833 J'ne 14
49
4958 4934 4934 4734 4312 • 4814 4814 2,800
5114 4934 51
61
t L & San Fr, 1st pref_ 60 Aug 14 6914 J'ly 27
58 Aug
73 Jan
1,150
64
6414 6433 6438 4.64
65
*61
• 62
*63
6412 63
63
3412 Aug
Do 2d preferred_
38 Apr 22 4912 J'ly 19
60 Jan
3,150
4112 42
/
4 4112 *4012 41
4112 4178 41
401
4134 4034 42
24 Jan 13 34 Feb 4
1812 J'ly
2412 Jan
1,600 St Louis Southwestern
*3012 3212 3012 3012 3012 31
3113 3118 3148 3118 *3012 32
7715 Jan
Do preferred
5934 Jan 3 72 J'ne 26
5112 J'ly
6758 67
6912 67
67
6612 6612 1,200
68
*58
• 6812 6812 68
10914 Aug25 12638 J'ne 26 10314 J'ly .513814 Jan
11438 11473 11214 11414 11138 11314 11114 11318 110 11114 10014 11034 75,400 Southern Pacific Co
18 J'ly
3334 Jan
27
2712 14,600 Southern v tr otfs stmpd. 2512 Mch 4 334 J'ly 19
2914 2778 2838 2814 2838 274 28
• 2878 2918 28
75 Jan
Do pref
do
6114 Jan 11 7514 J'ly 20
43 J'iy
6712 3,000
6812 6834 68
68
07
6914 7014 6858 69
. *6934 71
3634 Jan
2212 J'ly
2314 Aug25 3014 Feb 21
2334 2378 2434 25
2338 2478 2314 2338 2,400 Texas & Pacific
24
2412 2378 24
1912 Jan
J'ne
1412
J'ne
9
512
-Ihint
Avenue
(N
Y)...._
73
4
Aug25
•
1,400
814 314 *814 9
838 833
734 814
834 918 *612 912'
815 Jan 17
1534 Jan
638 Aug 8
512 Xis'
Toledo Railways & Lt.._
*614 7
*614 7
*614 7
612 *0
*6
7
*6
6438 Jan
10 J'ly
13 Aug 12 2434 Feb 8
1,556 Toledo St L & Western
1812 1358 1838 1834 18
1312 *1712 20
1834 1814 1814
-- .
18
7214
Jan
preferred
J'ly
Do
Jan
5
4234
Aug26
5373
2,680
3812
4138
41
4114
4112
4112
4014
3934
4014
3812
41
414
403s
100 Twin City Ranid Transit_ 10512 Aug 12 111 Feb 2 103 J'ly 11715 Jan
*106 108 *106 10812 *106 10810 3106 10812 10534 10534 *10412 107
nlon Pacific
16578 Aug25 19238 J'ly 22 15214 J'ly 20434 Jan
1724 17418 16914 17234 16814 17118 16938 17118 16334 16912 16573 16778 711,120
8814 .i'ly 10334 Jan
Do preferred
90 Aug25 90 J'iy 24
91
90
9012 1,100
9114 91
90/
1
4 9078 90:3 91
91
' *91
92
4214 Jan
2334 J'ne
3314 *32
200 Unit Rys Inv't of San Fr 3112 Angle 40 Feb 20
*32
35
38 *33
37
33
36
38 . *33
! *33
7238 Jan
47 J'ne
Do preferred
200
60 Aug 12 7634 Meh22
6134 6134 *5912 66
66 *61
68
*594 61
, 6212 6212 *02
Virginia Ry & Power
38 Aug10 45 Apr 24
80 J'iy 18 583 Apr 23
Do preferred
2734 Jan
1258 Jny
1334 Aug 12 184 Feb 23
abash
1412 -141
1412 14-12 1414 1414 -1412 1112 14 -174-1-4 14 )4'5818 fly' 61 Jan
2834 Aug 12 404 Feb 23
Do preferred
30
30
29
2914 29
2914 2,600
30
3034 30
30
30
30
5438 Melt
4878 Apr 12 6512 J'ly 7
40 J'ly
2,400 Western Maryland Ry
87
57
59
59
5734 58
5718 5712 5734 5818 5714 58
67 AIM
77 Dec
75 Jan 14 8814 J'ly 24
Do preferred
85 *75
85
85 *73
85
*75
85
*75
• *75
85 *75
3 Apr
10 Jan
238 Aug25
1,100 Wheeling & Lake Erie_
238 3
614 Feb 3
3
3
• *3
312 *3
312 *3
312 *3
312
8 J'ne
23 Jan
*8
9
Do 1st preferred
712 ./.1Y 27 1758 Feb 3
9
912 *8
*8
*712 9
*712 9
*712 9
J'ne
314
4
314
preferred
7
1312 Jan
3
Feb
318 318
3
318 *3
Aug23
8
500
44
Do
tf *312 418 *3
25
312
44 •Ply
64 Nov
51 Aug12 7218 May 1
1,500 Wisconsin Central
54
' 5312 5512 *5212 5512 5314 534 5212 5212 5178 5234 *51
D
K0118
T
rilheaatptoafig
S
U
W
BANKS AND TRUST COMPANIES-BROKERS' QUOTATIONS.
Banks
Bid
New York
180
B.otna
Lmerica II_ 360212
11.mer Exch.. 260
Battery Pk.. 145
Bowery'll_ 400
Bronxliorot 300
Broax Nat_ 190
Bryant Pk 11 155
Batch & Dr 133
_
;eatery II
phase
550
Banks
Bid
Ask
175
Chat&Phenix 170
185 Chelsea Exli 200
455
____ Chemical __ 445
166
270 Citizens' CU 160
155 City
445
• 435
415 Coal & Iron 150
160
_.
400
---- Colonial 2
200 Columbia 11. 375 400
160 Commerce _ 3202 3205
145 Corn Ex 11.... 315
325
155
East River_ 115
120
Fidelity 41.... 165
175
675
Fifth Avet. 1109 • 4350
Ask
Bid
Banks
300
Filth
960
First
_
19th Stil
3205
Fourth
335
Gallatln
Garfield - 295
Germ-Am 1 140
Germ'n EMI 435
Germania 11.. 5511
150
Gotham
Greenwich 11 240
Hanover_ 635
Harriman _ 285
Ask
350
980
_
__
340
300
145
___
575
155
250
645
___
Banks
imp & Trad
trying N Ex
Jeffersonli_
Liberty__
(Ancoln____
\fanhattanil
Aark't&Ful
Mech&Met's
Mercantile _
Vlerch Exch
Merehants'_
Ntetropolis ll
Aletropol'n11
Bid
575
215
145
575
375
330
255
262
150
163
180
370
198
Ask
585
___
155
600
425
350
__
267
160
170
185
385
205
Banks
Bid
Mt slorrisir. 250
Mutual 1___ 285
Nassau __ 300
New Neth'd 210
NewYorkCo 900
New York_ 300
19th Ward_....
.
Paeldel____ 32784
Park
370
People's 2.... 245
Plazal
625
erod Each 1 170
Banks
Bid
Ask
Ask
rleserve ..... 90
260
96
ieaboard .... 415
295
_. iecond ---..385
400
220
SeoUrIty- 151
160
Merman__ 135
975
...
310 itate IL__ 250
27-5.
__ 12th Ward_ ____
____ 23d Ward.... 175
Union Exc_ 170
375
180
__Wash EFts 1 275
_
......_ West Side I 660
_.
Yorkville 13_ 500
175
___.
• •Bid and asked prices; no sales were made on this day. tEx-rights. 5 Less than 100 shares. 1State banks. a Ex-div dead and rights.
0 New
ISale at Stock Biel:muse or at auction this weak. 8 First installment paid. n Sold at private sale at this price. s 2d paid. y 3d paid.
nod
STOCKS-HIGHEST AND LOWEST SALE PRICES.
Salurcla7
Aug. 19
Illonday
Aug.21
513
New York Stock Record-Concluded-Page 2
AUG. 26 1911.1
Tuesday
Aug.22
Wednesday
.1”.23
Thursday
Aug. 24
Friday
Aug. 25
Sa!e. of
U:e
Week
.S/tares
STOCKS
NEW YORK STOCK
EXCHANGE
Range since January 1.
On basis of 100-share lois.
Lowest.
Highest.
nu,Previous I
Year 1910.
Nig1
Lowest.
Industrial&Miscellaneous
*220 230 *220 228 *220 228 *220 230 .220 228 *215 225
1234 J'ly 3 1295 Apr 7 1235 Dec 5270 Jan
dams Express
15 Jaw
713 J'ly
934 May31
*638 712 *Utt 714
6 Aug 3
Ills-Chalmers
612 612 *1,
"3 712 *613 71: *612 714
100
*17
17 Aug24 34 1. cu 3
20
27 Aug 5434 Jan
1913 20 *17
17
17
Do pref
*17
20 *17
20
1012.
400
9034 Jan
6212 6012 6218 5973 6138, 6018 61
62
5518 JOY
571 2 Aug 25 7158 J'ne 19
5873 6018 5711 5834 75,150 Amalgamated Copper__ _
4912 Oot
35 J'iy
51
54
5312 59
40 Jan 3 60.r Maylr,
900 Amer Agricultural Chem_
5212 63
5')-11 52
*5234 5334 *5212 51
103 Jan
t
9914 j
Apr
*10114_ _ *10114 _
10134Jan 27 103 Feb 7
*10114
__ :1,10;14
__ 110114 _ _ *10114
_
_
Do pre
4714 Jan
Y
24
3934Jan 12 • 5638 J'ne 10
5214 -535114 E212 5114 -5214 5113 -51-34 5012 1114 49 -5-01. -2-0,Lon American Beet Sugar
J512 J'0
89 J'ly
0212Jan ii 10012 J'ne 14
91 1..
30
Do pre?
9814 *07
9814 *95
9814 *93
0834 40814 9814 *96
*95
10
678 J'ne
1378 Jan
873 Jan 6 1212 May 9
934 1018 10
1014 1013 1014
912 95e 3,000 American Can
934 72
10
Cl J'iy
8214 Nov
8334 85
77 Jan 5 8878 3la)2:!
Do pref
8312 8514 8363 8418 8433 8412 8;18 63;34 8273 8318 6,250
391: J'ly,, 7278 .,an
*5034 52
5018 5011 5012 5013 4918 5018 48-s3 4918 6,200 American Car & Foundry 48-:Aug 25 5314 J'iy 19
5014 51
*116 1181 *116 1181 116 110 *11512 11814 11513 11512 *116 11814
11414 hIch13 120 May23 100 J 'tie 120 Mck
Do pret
300
1213 J'ly
55
6934 Mch
55 - --------_
4914 May:2 6233 Feb 28
5378 5414 55412 5412 534 5212 5212 5314 2.100 American Cotton 011
- 100 May26 10512 Feb 18 100 Dec 107 Oct,
*100 103
*100 103 *100 103 *100 103 *102 10214
Do pret
1210 Aug16 j255 Jan 27 5230 Dec *320 Jan
*214 220 *214 22-6 521712 21712 *215 220 5218 218
190 American Express
217 217
312 Sep
813 .35a,
4
412
4
334 Jan 2!
5 J'nel4
*334 412 *312 412 *334 412
200 American Hide & Leather
*334 412 *4
20 Jan it
39 Sep
4778 .an
2638 J'ne 14
21
*20
23
21
*19
*19
23
23
20
22
*19
20
Do pref
200
2914 Mein
1638 Doe
1.400 American Ice Securities_ 1714 Aug25 2534 J'iy 11
1914 1914 1878 1878 1778 1812 1714 18
1912 1912 1858 19
8 Aug 11 1234 Feb 14
1013 J'ly
1734 zeal
*878 9
*812 912 *812 9
9
9
300 American Linseed
*8114 934
812 812
2512 J'ne
2718 Aug 14 34 Feb 14
*27
4678.7an
2753 2758 2734 2734 *2712 30
30 *26
2912 *2714 30
Do pref
200
29 J'ly
6212 Jan
3812 3613 37
3614 3638 3614 3614 3612 3612 3413 3614 3,300 American Locomotive._ 341
*37
:Aug2: 4314 May21
104 Apr 18 1101. Jan 13 1021. Aug 115 Jan
*10412 107 5107 107 *10413 107 *10412 107
Do pref
10434 105 *10412 10512
425
31" Dec
8 Feb
333 Feb 17
413 418 *4
434 *4
538 Jan 21
5
*4
434 *4
434 *9
100 American Malt Corp
412
2812 J'lle
48 Mch
3113 Itch 8 4353 J'ly 22
*3812 3912 40
40
90
40
40
*38
3813 39
Do pref.
40
140
650
*86
82 J'ly
88
9078 Jan
8712 *8512 8712 *85
83 *87
*87
Amer Smelters Sec pref 13 86 Meh 8 891g J'ly 19
8713 *85
87
7033 7113 7012 71
6138 J'ly, 104 Jan
7134 7214 7014 72
6878 7012
reetItingd; Refining 8833 Aug25 8378 J'ne 15
Am
peor Spna
*105 100 4105 10512 105 105
10318 Jan 3 10813.J'ne 15 i 0814 J.11'
10434 105 *10434 10514 10
. 11234 Ja 17t •
4 10
65
053 317:5156°0
883
433
Aug25
66 Jan
38 JOY
5212
b
1
3312
Feb
*35
(new)
37
..
35
Found
Steel
35
Amer
500
35
35
35
35
3312 3312
*34
35
11513 11531 116 116 *114 11513 11418 11413 *114 116 *11418 116
400 American Sugar Refining 113 Jan 6 12212 Feb 27 11118 Oct 1271. Feb
*11412 116 *114 116 *11412 116 *11413 116 *11413 116 *11413 116
111 Jan 5 11913 Feb la 11113 Dec 124 Feb
Do pret
134 13413 13373 13418 13334 13373 13338 13334 133 1333 13212 133
8,145 American Teleph & Teleg 13212 Aug25 15318 J'ne 8 1263.1.11y 14332 Feb
92
92
92
901., J'iy
9013 91
;92
8812 9012 87
9034 Alcil
8814 8712 89
5,320 American Tobac (new), pf 87 Aug24 101 May18
2833 2812 2934 2934 *2812 31
29
29
2312 Aug12 3612 Mel]21
2515 J'ly
3912 Mob
32312 2813 *2813 32
325 American Woolen
00
90
90
*87
*88
90
8512 Mch 29 9614 J'ne 15
9018 Dec 104 Mai
*88
Do pref
91
8912
8814 8814 *87
200
*28
28
28
20
*2013 28
*2634 28
100 Amer Writing Paper, prf. 2714 Aug12 3412 Feb 15
*2611 28
28
*27
3614 354 36
*3612 3712 3614 3614 3614 3614 36
2,400 aAnacondaCopper par525 23413 Aug25 $4113 J'ne 13 $3213 J'iy $54 4a,
3412 35
3014 3012 3012 3112 3014 31
2658110114 33/8 Aug 1
21 Jut) 3478 Oct
3078 3078 2053 3014 2918 3014 9,800 Ilethlehem Steel
61
5012 059
*69
Go
60
*59
5314 Aug10 6633,Pir 3
49 Aug
65 3an
6012 59
60
500 3 3 Do pref
5812 5933
*134 140 *13413 140 *135 140 *135 140 *13412 140 *13412 140
Brooklyn Union Gas__ 135 Jan 3 1451z J'ne 8 125 J'ly 16112 48.,
9
*8
818 81g *8
814 *8
8 J'ne
818 Auv15 1034 Feb 1,,
834 *8
1818 Jan ,
200 Brunswick Term& fly Sec
834
*2812 3012 *2812 3012 *2812 3014 *2312 3014 *2813 834 *8
28 Feb 16 31 Mch30
28' J'ne
ButterIck Co
33 Jan
204 *2812 2912
2578 26
25
25
2413 2413 *2432 2514 2334 2414 2314 231
2314 Aug25 3378 Feb , 2514 J'ly
463.j Jan
(lentral Leather
2 2,000
*98
99
*9712 9812 9818 9814 *93
105
9538
Feb le
Aug25
9914 JOY 10914 Mob
9813 98
900 ,' Do pref
9538 97_78
98
*1913 20
1014 1934 1018 1939 19
dClItno Copper__ _Par $5 $1734 Aug25 12534 May 161 1
1913 18
1878 1734 1812 8,850
2034 3012 2918 30
29
29
29
2778 Aug 17 3633 Feb (
2212 J'9ir
50 Jan
2938 2878
2878 2813 2818 2,100 Colorado Fuel & Iron
13534 1371, 13512 136
13712 138
136 13612 13334 13534 133 13334 8,521 Consolidated Gas (N IT). 133 Aug25 14813 J'ne 6 12212 XII- 10038 Jan
*13
1312 1278 1273 1234 1234 *1234 13
1112 J'ne
1214 Aug 14 1534 Diay17
2314 Jan,
1258 1234 1213 1212 1,400 Corn Products Refining
*77
80
*77
7413 Jan 10 85 May29
80
7713 7713 *77
7038 J'ly
8083 Jan ,
80
*77
80 *77
Do pre!
100
80
32
3214 22
2514 J'iy
32
3634 Jan
31
3112 3134 3134 3034 3112 3013 3034 1,900 Distillers' Securities Corp 3013 Aug25 3814 Mei 1
*30
35 *15
35
12 Oct
*20
CO Mols
Federal Mining & Smelt'g 1734 Jan 28 38 Feb 16
35 *__-- 35
30
*12
*12
35
63
*50
*60
63
37 Oct
*50
88 Jan
63 *50
4813 Jan 11 6612 May19
6212 *50
Do pref
6312 *50
6112
154 15434 154 1543, 153 153 *15212 155
d z14,18 Mch 3 16838 May29 134 J'ly 16075 Jan
151 15134 2,900 General Electric
15212 153
46
96
4514 4513 4514 4514 *45
4378 Aug25 5134 Aug 4
725 Gen Motors vot tr Ws__
4378 94
47
45
45
*82
8212 *82
8212 32
82 *81
8114 Aug18 8663 Aug 5
Do pret vot tr ctfs___
82
100
8212
*82
8212 *82
613 Jan 14
3734 Oct
778 Jan 3
531 534
553 03L-.
553 558
3914 Sep
553 534
512 3:1 5,775 Goldfield Con hi_ Par $10
513 1 34
11713 11713 115 11734 11418 115 5115 115
125 Jan ,
114 11413 11238 11334 4,725 1 nt Harvester stk tr cfts 109 Jan 3 12938 May 5 38318Feb
12113 12112 *12114 12314 *12114 12314 *12184 12314 *12114 12314 *121 12314
100 L Do pref stk tr otfs_ 12061 Aug12 12314 May 4 z117 Aug 120 Ja26-4
*4
438 *4
414 fly
Int Mer Marine stk tr ale
41 *4
678 Jan 3ii
912 *4
412 *4
4 Aug.()
412 *4
712 Jan
414
15
1514 15
1258 J'iy
15
*143,1 15
15
Do pref
1434 Aug12 1914 J"ne li
2438 Jan
15
*1413 15
15
1,300
15
*10
11
1034 11
9 J.'s/
11
*10
*10
800 International Paper
918 Apr 27 1338Jan 31
11
16 Jab,
*10
11
1034
*10
*47
48
4718 4712 4718 4712 4734 4744 4778 4773 4718 4712 1,100
4113 J'ly
Do pref
4458 Maylb 5638 Jan 17
8112 Jan,1
36
36 *36
*3412 35
35
35
36
3414 3412 3313 3334 1,400 Internet Steam Pump
5458 Jan'
3214 Aug12 44 Feb 6
865s JOY
*_ _ _ 87 *____ 87
Do pre
*84
87
*34
7812 JOY
37
87
*80
*84
87
8412 Jan 26 9012 J'ne 12
9014 Jan750 Laclede Gas (St L) com
10434 10434 10434 10434 10434 10434 10478 10478 10434 10434 104 104
102 Apr 18 11412 Jan 20
9334 JOY 11612 Jan
100 Mackay Companies
85
*8212 85
86 *83
*83
35
*83
8313 8313 *83
85
83 Ault13 95 Feb 2
79 JOY
98 Oat'
74
*72
*72
*7214 7412 *72
Do pref
74
74
71 rly
74
72 Aug 11 77 Mch 7
*72
7313 *72
7834 Out''
7314 77
*75
7814 77
1,000 May Department Stores_ 70 Apr 28 87 J'ne26
77 *75
7814 *76
76
,
7814 76
&l"
*111 11312 *111 11112 *111 11312 *111
prat
*111 11812 *111 11314
Do
112 J'ne 2 11314 J'ne
-'
1934 1978 1912 1034 1934 1934 1012 1-934 1914 1058 19
1914 3,550 dMiami Copper__ _Par 35 31814 Apr 18 $2278 J'ne26
*132 13413 134 134 *18214 134 *13214 13412 133 13338 13012 132
11714 Jan 14 141 Apr 4 100 Aug 11912 D4171,030 National Biscuit
'
*12812 12914 *125 12514 *125 12914 *126 12914 *125 12834 *12713 12834
Do prof
124 Jan 20 130 Feb 4 71834 J'ly 126 Jan
*16
18
*16
18
100 Nat Enamerg & Stamp'g 1614 May29 22 J'iy 24
18
1634 1634 *1613 19
*16
*16
14 Sep
19
2812 Jan
9412 9412 *92
99
pref
Do
85
Jan
200
98
*92
22
98
*92
J'ly
c
84
98
100
*93
Oct
3
4
96
26
0612 Jan
5038 5058 5034 51
*5013 6213 *51
2,900 National Lead
4812 Aug 2,
8212 50
4812 59
51
59 Feb 2
461. JOY
891is Jan
*102 108 *102 108 4106 110
108 108 *104 108 *104 103
10514 Mch24 10934 Aug 15 10134
Do pref
100
-.I'ly 11012 Jan
1778 1818 1734 1778 1714 1734 1738 1738 1718 1712 17
1738 cam dNev Cons Copper_Par $5 $17 Aug16 $2114 J'ne 14 1i71 J'ly 32238 Oct
*65
70
66
6712 66
66
65 Aug12 7512 J'ne 19
*00
70
1,000 New York Air Brake
*66
70
66
66
59 J'ne
951z Jan
*69
70
71
71
70
1,650 North American Co (new) 64 Jan 10 7634 MaY13
70
*09
6912 70
70
72
70
601$ Nov' 84 Jan
30
30
29
23
29
c)Mail
2912 29
2318 Apr 24 311. J'ly 31
29
2512 29
1,700
2773 28
2278 J'ly
4314 Jan
40
40
12
90
40
acific,
Telep de Teleg
3738 Aug12 5458 Jan 31
3978 3978 40
1,610 P5
30 JOY
40
39
4614 Jan
39
3734 38
103 103
10314 10314 10312 10312 10334 10334 10318 10314 10112 103
1,725 People's G L & C (Chic)_ 10112 Aug25 109 Jan 19 103 J'iy 11638 Jan
____ ____ ___ ____ ____ ___ _ _ __ Philadelphia Co(Pittsb'h) 1001 Jan 3 '11812 J'ne :3
34 J'ly 10612 Jan
: 1912 1912 1834 1834 1813 1812 *1812 1912 173A M14
;181-4 I01
1714 Jan 3 2314 J'ne 5
1,400 Pittsburgh Coal Co
13 J'ly
2734 Jan
8573 8618 85
85
85
Do pref
8212 84
8412 8413 *84
6734 Jan 4 9018 J'iy 26
8112 8212 2,500
6014 J'ly
85 Jan
*31
32
3134 3214 32
Pressed
*3113 32
32
3638 Aug25 3768 J'ne 21
3013 31
3038 3012 1,250
Steel Car
25 J'iy
517
8 Jan
199
99
08
98
__
_ *97 100
1)0 nrci
97
07
*97
9214 Jan 3 10234 J'ne 16
99
255
90 J'ly, '10712 Jan
*110 117 *113 117 *110 1-1-7- *110 117 *110 117 *110 117
Pub Service Corp of N J. 115 Auy10 120 Feb 7
*153 159 315878 15873 *158 15911 *158 159 1159 159
157 158
324 Pullman Company
157 Aug25 163 Jan 30 155 J'ne 200 Jan
32
3212 3214 3232 *32
33
*32
3112 32
33
3014 31
1,300 I)allway Steel Spring
3014 Aug25 39 J'ne 14
2$ J'iy
5172 Jen
*101 105 *100 105 *101 103 *101 105 *101 105 *10078 105
1A, Do pref
92 Jan 3 103 J'ne 15 z9014 Sep 107 Jan
1514 1514 15
15
1434 15
1458 15
1412 1412 1373 144 4,360 dItay ConsCopper Par $10 31313 Aug25 $1813 MaY18
2612 2678 20
2638 263
26
2034 2334 26
27
2534 2618 4,500 Republic Iron & Steel
25 Aug12 3514 Feb 6
27 JliC
4578 Jan
92
*91
*91
92
9134 9134 92
90
90
92
8978 9033 1,600
Do pret
8978 Aug25 993s Feb 1
8234 J'ly 10414 Jan
*____ 13012 __-- - *135
...,
_
_
Qears, Roebuck &CO
____
_ *137 139
May26
192
13612
J'ne
Feb
150
C
190
Nov
*42
40
042 -40
*42 ..
40
30
*42 -4-6 - 42 -4-2200 1-floss-Sheffield Steel & Ir 33 Aug25 5614 Feb 6
36
4814 Dec
8,612 Jan
*3112 321: 33
33
3134 3218 *3112 3212 3112 3158 3031 3112 2,650 dTennessee Copp_Par 325 3303.1 Aug25 $44 J'nel3 31934 J'ly 84058
Jan
8614 97
96
96
8934 9012 *91
8818 8818 2,785 Texas Co (The)
01
94
90
86 Aug16 13613 Feb 1 139 Oct 144 Oct
90
90
90
00
8034 893, *81
90
90
90
820 1 rnderwood Typewriter_ 63 Mch29 111 J'ne26
87
8712
*111 1121. *111 1121,1 *111 11214 *111 11234 *111 11234 11012 11012
100 •-1
DO pref
103 Mch31 11373 JOY 28
013 (17,
G
0
612 012 *512 612 *312 612 *512 7
300 Union Bag & Paper
534 Aug16
9 Feb s•
6 J'ly
1314 Jan
.51
59
*51
59
*51
59
*51
59
250 Do pret
58
58
*51
59 Aug 8 5912 Jan 30
65
5218 Dec
73 Jan
*10112 10314 103 103 *10112 10314 *10112 10314 10158 1015, *10112 10214
200 United Dry Goods Cos- 10013 Jan 27 108 J'ne26
90
Aug
122
Jam
*105 1081: 110511 10514 *10.511 1086,*105 10812 *10334 10812 *10313 10512
Do prof
20
10218 Jan 3 10713 J'ly 7
9914 Aug 11373 Jan
1314 1.814 13
13, 14
*1212 15
14
*13
J.
800 U S Cast I Pipe & Foundr 13 Aug22 19 Feb 23
1414 1414
1418 J'ly
32 Jan
4713
971,
49
*46
4712
4712 *4612 50
54834 4834
59818 4818
241
Do pref
4614 Aug16 z61 Feb 23
49 J'ne
84 Jan
93
*90
93
*91
*00
03
95
95
*90
*01
593
10 United States Express
93
90 Aug 9 5105 Jan 27 19312 Dec 145 Jan
71
*69
71
67
*68
71
*68
67
*68
70
100 US Realty & Improvem't 6518 Jan 23 7934 May29
71
*67
6434 JOY
8914 Jan
39
*33
3712 3753 3718 3712 31)34 47
3714 377,,
Tr
38
4,000 United States Itubber
3512 Aug12 9778 Mob 1
27 J'ly
5213 Jan
11034 11034 110 110%1 11014 11014 10912 110
10913 10958 10914 10914 1,125
Do 1st pref
10014 Aug25 11512.1'1y 7
99 JOY 11012 Jan
*7212 7612 *72
76
072
76
76
72
7218 7218 72
*72
Do 2d prof
200
72 Aug25 79 Mch 1
5912 J'ly
84 Jan
7144 73
7018 713.1 6913 7034 824,640 United States Steel
6912 Aug 25 8218 Feb 6
7314 7378 7114 72ij 7114 73
6118 J'iy
91 Jan
11514 1151, 11514 11534 11478 11533 114 11434 9,500
*11513 11534 115 '3 116
Do pre!
114 Aug25 12078 Feb 4 11012.11y 12533 Jan
4434 9514 4413 45
4334 4411, 4378 4414
4234 44
4113 43
20,590 dUtah Copper_Par 310 $4112 Aug25 $5218 J'ne 19 153938 J'ac 36014 Jan
5414 55
5418 6514 54
1412 4.800 Virginia-Carolina Chem
5514 5514 5412 55
5413 53
53 Aug 25 7038 Feb 28
47 Feb
6614 001
118 11812 113 118
11934 11934 119 119
119 119
118 11818 1,560
Do pret
118 Aug23 12812 Mel'15 117 J'ly 12914 Jan
5157 157 *153 15713 3155 155 *152 158 *15212 156
156 156
5150 Jan 18 177 May26 14413 Dec 195 Jan
73 Wells Fargo & Co
7512 7514 7512 7434 75
7414 7412 5,801 T Y estern Union Teleg
7,5's 7612 75313 703 75
7158 Apr 18 8412 May24
56 J'ly
7812 Mak
66
6634 66
8412 65
63 3 66
*65
8,800 Virestingh'seEl &Mfg amen 6412 Aug 5 79 May29
66
6712 8434 86
4912 J'ly
8212 Jan
112 115
114 114 *114 118 *114 118
*11134 120 *11134 120
1101. Ang16 123 Jan 5 110 Mal 130 Feb
500
Do let pret
A
BANKS AND TRUST COM PANIES-BANKERS' QUOTATIONS.
Banks
Bid
Brooklyn
Broadway 1 385
Caney Isrtit
keirst
Ilernesteadl,
lianufao'rs' ill"
Mechanics'V 226
Montauk __
Nassau
8212
Ask
400
155
300
125
115
430
290
150
225
Beaks
Brooklyn
Jat Uty
.lorta Side 1
People's ___
Prosp'ctPlz,
Bid
Ast
285
150
158
133
300
170
163
143
NYQUy'
Astor
350
Bankers' rr 693
U!)
706
Trust Co's
Trust Co's Bid
Ask
N Y City
!'wag
14212 143
Gentral Tr_ 1000 1040
Uolunabla - 300 310
Commercial
_
Empire -- 105300 310
EquIrble Tr 500
510
Farm Lo&I 1140013.
Fidelity - 21713 21212
Fulton
300 311)
Trust Co's
Guarty Tr_
Guardian Tr
Hudson
Knickerb'kt
Law T I&Tr
Lincoln Tr.
Manhattan
Mercantile
Metropol't'n
Mutual
Hut Mince
Bid
800
135
140
295
245
123
390
Ask
815
lid'
305
250
132
410
470 480
1321
140
130 ^-
Trait Co's Bid
Ask
Y Life &Tr
N Y Trust_ 510- 127
10
1
Savoy..
____
75
Standard Tr 320
405
TitleGu& Tr 480
i49
Tr Co et Am
375
Union Tr__ 1230 1250
US Mtg& Tr 496 610
Unit States_ 1125 1160
Washington 380
376
Westchester 150
160
Windsor __ 519712 ----
as
Trust Go's Bid
itiooklyn
toroukiynTrl 448
Citizens' --- 120
Flatbush
200
Franklin__ 58270
Hamilton
265
dome
I 106
ifings Oe - 1501
L L L 4i Ti 330
148
'
People's245
Queens 0o: 100
Ash
316
2111
271
116
gel
166
301
115
• •Bid and asked prices: no Baled on this day. ;Less than 100 altered, t15x-rights. b New stook. cgx-div.and rights. d
Now (meted dollars Per 101141
a gx-stook dividend. 1Banks marked with a paragraph (1) arc State) banki. •
• filial at /Hoek giohartge or at ¬ion this week,
New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
J.1. 1909,the Exchange method of quettna bonds was changed, and prices are now all---"and interest" —s.c3sp! /or incense and defaulted
bonds.
'6
ts
4
BONDS
4
Pries
'4
Week's
g'43,
BONDPrice
Range
TVeelc's
li,til Range
Priaay
N. Y.STOCK EXCHANGE 0
N. Y. STOOK EXCHIANGIC
Range or 01,?,
Sinoe
itiday
Range or t.1
Since
August 25 Last Bale
WHX1C ENDING AllatIsT 25 Pm
January 1
WIckg Ezentrui Anallar 26
"
.4 P., August 25 Last sale
January 7
.1
L. M. tioverumeni
Rid
Ask Lou
High No Low High Cent of Oa 1411—(Con)
Bid
Ask Lou' High Ito Low Ilium.
If 6 28 consolregistered.c11930
10038 10034 101 18Apr'll .... 1011,101', .10 pret income g us..,.p19411 Oct
08 100 J'ne'll'....'; 83 102
11 6 2s oonsol conpon
41930 -J 100% 101 101 Slay'll .... 101. 101%
3d pref income g ba stamped.
851
/
4 uct'10‘
V 13 38 registered.
k1918 -If 1011
/
2 1021
Chatt Inv par mon g 43.1951 -I) 87
/
2 102 Apr'l 1 ,102 1034
/
1
4.Ply'll
90
8738 881
/
2
'11:1 3s coupon
1011
k1918
/
2
Mac 63 Nor Div 181 g 68.19411 -J 8106
10178 101% .
1 10178 10214
106 Aug'11105 103¼
1:1 6 38 con small bonds—k1t/18
Mid Ca & Alt Div Os. 1947 J-J 105%
1014 J'Iy'10
115
ov'05
U b 4s registered
1925 3. 113341141
Mobile Div let g 68
, 6 11378 110
/
2113% 1137
3 IdaY'l .... 108% 109%
11146
108%
109
6 48 coupon
1926 .F 11334 114'.j 11378 113% 5 11334 116% Can BR& Rot Liu col g Os 1937 ra-N 102 103% 102% J'ly'11 .... 1011
/
2 103
s Pan Can 10.30 yr 2s.k1930 -N 1001
/
2 i0034 100 1$1'ne'l 1
10044 1001
/
2 Canto! NJ gen't gold 611.1987 J•
120%12114 12135 12135 2 1 20', 1231$
1.1 S Pan Canal 3s g
/
2'sal. 10235 102¼ 46 10135 103
1961 Q-8 1021
Registered
411/87
121 122 122 J'ne'l 1 .... 122 1231
/
2
Am Dock 6, Imp gu 53_1921 2:
/
2
1001
j
4 105
1001,108',
10areign Govertttttent
Le Al, Rua It gen gug 53 1920 .4
100%
Argentine—Internal 611011909 31.8 97
Leh & Wilks B Coal 53..1912 M-N 1001
97% 97% Aug'11 •..• 971
/
2 99
1001
/
2
Aug'11
.... 1001
/
2
/
21001
/
2
Chinese(Hukuang)By 58 S..
N Y & Long Br gen g 4s 1941
$ 98 Sale 98
984, 63 9'11
/
4 99
9935100', 99% DWI()
Imperial Japanese Governing
Cent Pacific) See So Pacific Co M-S
sterling loan 4/
1
28
/
4 94% 944
9438 4 93% 95% CentVermont 1st git g 43 01920
1925 F-A / 041
90%
/
2 024
871
' 2d eeries 4',s
2 9338 951
1925 j- 1 94 Sale 94
114
/
4 Chas & say See All coast Line 0-F
Sterling loan 4s
Chet)& Ohio gold Os
88 89
1931 J-J
813¼ Aug'11
87% 90
a1911
100 Nov'10
Repel)of Cuba 58 erten debt. Si- 1103 Site 102% 1o31$ 16 1024 104
Gen funding & impt 68.19213 A.0
Aug'i
.... 102% 1001
/
2
/
2
J.J 1114 105 1041
External loan 4 Lae
let coneol g .58
1946 F-A #.97
99 J'ly'11 .. 9734 100
1939 M-N 1111 Sale 112
112
/
2
10 1111
/
2 1131
San Patuoiliramb trust531919 -4 # 974 98
9744 11 97
9714
Registered
973
,
11/39 13.11
,
Il134 1113
1121
/
2 1114 May'll
U S or Mexico 8 f g 5801 1899 Q-4
General gold 41
971
/
4
97 Aug'11
9.11
/
2 98
/
23
1992 M-8 101 Sale 1034 101
9 10038 102
Gold 4a of 1904
4 891
1954 1-13 804 90
Registered
891
/
/
2 941
2 b9
/
2
1992 SA-8
100 Marll .... 100 IOU
2 h,e8e are pr Ices 011 the b ova of $5 to Z. Convertible 41
/
2s
1930 F-A 92% 93', 93
034 80 9234 971
/
2
State and City Securities
dig bandy let 4s
1944 -D 86
87 May'11
87
87
89
N IC City-4148
/
2 51 10035103
Coal lily By 1st gia 48 —1945 .1.11
1021
1960 M.
/
2 Sale me, 1021
83
81/1., 8844 4'ne'll.... 85
881
/
2
443 recta int fro Jan 24 190 U.S
1034Aug'11 ..•. 10076104%
Craig Valley let g 68....1940 3-4
100 1041
/
2
10234 J'ly'11 ..... 1024 103
49 Corporate Stock
36 118%1004
9934 Sale 9935 Lull
Potts Creek. Br let 48...11/4b J-.1 80
1969 M-N
88 0 41111'09
4% Corporate stook
It 6, A Div 1st con g 413-11/81/
1958 11-N 0978 Sale 9934 100
9131
/
210014
944, 94¼ 0434 A ug'11
94,34 96
-J
New 4 428
2ct consolg 4s
N 10878 Sate 1087, 108% 4 10678 1091
1957
/
4
19139 J-J
11214 924 J'ne'l 1 -- 110¼ 92',
New 4s
103 I'ly'11
Warm Spr Val let 868_1
1017 31-11 199‘A
101%103
104
81
9 M-8 1061
1131
/
4 1081
/
4 iceu'05
/
2
10
,109 10378 100
Greenbrier By 1stgug Is'40
41
/
2 Corporate Stock _11157 M-N 1964
1061
/
210918
95 Oct'10
801
/
2
41
/
2% amsemt
Ohio 6, Alt UR ref g 38.-1949 M-N
/
2sal, 1024 1021
/
2 38 102 103
M-N 1021
711
/
2 721,4'ly'11,-- 721
A.0
. 7334
4% Corporate btock
Railway let lien 3/
6 98% 100',
1957 M-N 9934 992, 9934 100
1
24.-1950 J-4
651
/
65 Aug'111
2 66
00
711
/
2
N Y State—is
Begunered
101 M-3 103 Sate 10
1031
/
4 464 102% 1031
1950 J•.1
/
2
75 Oct '09,
Canal Improvement43 11160 J.J
108 103% 1031
/
2 10 1034 106¼ Chic Burl.1)(4—Deny 48 11/22
0 F-A
11934
991,
09'41 1 99
997,
So Carolina 41
137
Illinois lily 3/
1933 J -J
1031
/
28 20-40
/
2J'Iy lu
1
23
111411 8.768 8754 87% Aug'11
871
/
4 881
/
2
Tenn new settlement 36 1913 -.I
97
Registered__
971
/
2 97% 4 96
1999 J-4
9718
87
88 bop '10
......
Virginia fund debt 2.84 1991 j-4
138
13018 J'1143'11
86
1949 3-3 981
864
/
2 99
; Ills Inv 45
9878
09 I 10 1.828 1004
6a deferred Brown Bros etts.
Iowa
601
/
2 62
Div emit fund 68_1919 A-0 1043
60
60
1 40
071
/
2
,
1115 14 J'ly'11
1004 10514
Sinking fund 48
1919 A-0 99% 99% 9944 0/
1
2' 1 9914 991
/
2
Railroad
Nebraska Extonaiou 43 192
19
7 M-N
1/838 100
993
8
41
038 100
9335
A ianama Cent Beebe Ry
Registered
1927 M-N
1181
/
4 Mar'11,.... 1184 9818
.11.1aba Midi See At Coast Line
Southwestern Div 44
1921 M-S 1)91
Ulf Fob Ili__ 99 0
Albany 6,13usu See Del& Bud
Joint bonds Bee Great North
Al-tag & West See Butt it & 1'
Debenture 1513
1913 M-N 101 Sale 101
101
1 101 1011
/
2
Ann Arbor let g 4s
General 48
SO Sals 80
419116 Q-J
26 707, 85
80
961
96,
/
2 20 04 98
1 9614
M-8
Atoll'X& 6 Fe—Gen g 48.1996 A-0 99 Sale 983
097, Chic& it litre& imp g 1
, 991 87 98
195
55
8 3.4
811
/
2
81
81
81
1
83
Registered
lat consol g 0a
99
1/8 rly'11
1996 A-0
1241,1254 12035 Aug'11 .... 12638 127
971
1934
/
4
983
,
A-0
Adjustment g 48
General consul let 53
41996 Nov 91% 924 91%
911
/
2 4 9034 921
11437 14-N 101/08 1101
/
4 110', 11014 '2 l0934 1111
/
2
/
2
Registered
Registered
/1.1995 Nov
1)2 Jan'10
1937
10834 Mar 11 .... 10834 10834
Stamped
Chic (Y4 Ind 0 By 1st 03 1936 M-N
411/95 hf-N 91% 921
1/2
/
4 92
9078 921
/
2
109% Aug'11 .... 101134 11014
J-J 109%
Conv 4s issue of 1909...1035 JD
Chicago
&
Erie
J'ne'l
1
•.
See
••
103 114%
Erie
11435
Cony g 48
11150 J-D 104 Sale 104.
1U5
105 1.1578 ChM Gt Western let 44-1969 11.6 8334 Sale 8334
8835 2 8335 861
/
2
Cony 4fri (iseue of 1910) 1960 J.D 99 Sale 9834 104 1223 U83
,105% Clue Ina,Loulev ret 68_1947 4-3 1201
/
2 12714 1271
/
2Aug'11 .... 127 1283
,
10-year cony g 61)
Refunding
1917 .1.1) 10634 :sale 10634 108 14.1 100%1101
gold
be
1947 J-J 1071
/
2
/
4
Apr'll
....
Ill
111
111
Debentures 48 Series 3 1912 F-A
Refunding 48 Series C-1
987„Jan'10
1917
7 3•4
9635
9538 Apell .... 95
Series K
991
/
4 .1'13011
1013 F-A
994 99% Ohio Ind 6) Sou 60.yr 46 1966 3-4 92
921
/
2 92 J'ne'll ..... 92
931
/
2
East Okla Div let g 40..1928 M-8 96
971
/
2 90 Aug'11
116
971
/
2
/
2 Ohm 31.1.1 6,tit k term g 64 1914 3-3 1021
10214 Aug'11 .... 102',102'
Short)lane let 44 g
General g 4s series A..,1989 -3 984 981
931% 93 J'Iy'll
1955 J-4
112¼ 9414
1
2 10 98 998
/
2 9814 0/
S be Pros &
let g 68 1942 41-8 108 109 1064 J'ne'i 1
Registered
,1989
10841091
99',Jan'll'.... 99% 110,..
/
2
AU _Knox 6 N des L N
General g 31
/
2a series 13 01989 -3
13635 90
874 Aug'11 .... 861
/
2 881
/
2
-J
Atlantic Coati; let g43.41952 Id-8 951
25-yr deben 4s.
/
2sale 951
/
2 96% 93 933
, 06
1934
9214 sale 924
9241 22 02 9318
Ala Mid let go gold 64_1028 51-N 107
Chu,84 14 Su Div g 64—.1021 3-3
108% 108% 2 108 108%
10318 10735 1063
,Aug'11.... 103351)17
3-3
Bruns W 1st gu g 4s _1938 J.J
051
Ohio dl Moltiv Div 53...1926 J-4 1083
/
4 Mar'll ..•• 1)64 954
954 113%
,
10834 Apr'1 1 .... 10814 109
Charles & Say let g 78_1930 J.J 188',
Ohio P W let g 58
1921 -.I 106 Sale 11/6
100', 9 106 1071
/
4
1 L A) N coil g 4s
92%
93
o11.152 31.11 92
921$ 25 92% 061
1910 -J 10338 10334 10338 1.0833 1 10314 103%
/
2 Dak Lit So g 58
F&
, Say
W let gold 60-1934 A-0 1241
Dubuque Div 1st a I 08 19
/
2120 126 j'ne'll •••. 1241
/
2 126
20 J-4 1131
91
/
2
May'li
11418
.... 114 114¼
let gold 68
liar a, sou assu g
1034 A-0 108 111 111/38 5114Y'1 1 •
110%1111
11124 -J 11634
/
4
11438 Aug'11 .... 1174 11735
, Sit Sp Oca & G gug 48 _1918 J -4
97
LaCrosse & 13 let 6a
9734 97 J'ly'11
97
1919 J-4 105
971
/
2
iu5
105
1 105 105
Atlantic 43 Dauv See South lty
Wtsdl Minn Div g53
1021 J-4 1018
10634 J'ly'11 ...., 1035 it)?',
Austin & 8 W Seesou kile1110
5111.8 No let coma 6a
11/13 J-D 103
103 .A.ug11.....11.03 1053
,
that di 01110 prior g iss.11P45 1924 Sale 921$
Extended 41
92/
/
24
1
2 1 91% 93
, 1919 -D 1001
/
2
J.
Registered
01
01/
1
211lay'i 1
41925 Q-4
911
/
2 911
/
2 Chic& orthw cons 7e....1916 Q-F 1001
/
2Sale 1091
/
2 1011411 11091,112
Gold 43
41048 A-0 9335 Sate 98
Extension 48
/
4
9835 12 9735 991
1880.1923 •A 9778 1/83
, 977
, 9778 '21 977 993
Registered
A11/48 Q-J
Registered
9778 9618
1
97
1830-1926 F.A 061
/
2 119
98%
99/
1
4 Aug'l i .—.1 97 0/
1
4
Pitts J uno let gold 6...11122 J.J 11235
1121/4Deo'1(
Genera; goia 51$s
1987 M-N
81.1 Sale 86
06 I 1511; 80
881s
• PJun& al Div
g 31
/
281925 M-N 83 881
1113g1titered
/
2 88',Aug'11
87% 883
plt187 Q-1f
,
9318 Apr'09 _...I
P L Ede W Va Sys ref 431941 16-N
1/1) Sale DO
General 4s
901
/
2 6: 90
9218
1987 /11-N 117% Sale 971
/
2 973
, 90 9744 991
/
2
; Boxithw Div let g 31
/
2 Aug'11 831 831
/
23-1925 J -4
901
bulking fund 0s...1879-1929 A-0 1113
/
2 10/34 901
/
2 911
/
2
112 Jan'1 1 ....1112 112
,
Registered
891
/
2Apr'10
411125 Q-J 881
/
4 92
Registered
1879.1929 A-0 1101
1114 Novq19
/
2
!
tttttt
• Can Ohio It let ci 841
/
2s-1030 14-6
1/13
Sinking lunil 6a-1879-1929 A-0 1074
103 Mar'l
10738 .1'ne'i 1 —.1106 10735
-----110 Dec'10
01 Lor & W con let g Os 1933 A-0 1071
/
2
Begistered
1879-1029 A.0 103/
/
4 May'1 1 .... 1074 1071
1071
/
4
1
2
atonon Itiv let gag be...1919 F-A 101
1021
/
4 Feb'l 1 • 1021$1021
/
2 Debenture 64
1921
104.4 3 10435 100
1001$
104.7
8
10435
A-0
Oluo River RR let g 63.1936 J-1 109% 11034 1091
Registered
/
2AVI"11 •..• 10941 1091
/
2.6%0'10'. .1
1061
/
2
1921 A-0
I General gold Cni
Sinking
1937 4-0 1061
/
21091
fund
/
2 100 J's.y'll . 109 1091
Mit)
54
/
2
107 Aug'11.... 107 1091
1933 M-N 1091
/
2
/
2
1131
/
4 11314 6 1l34 1133
; Pitts Cloy &Tol let g Os 1922 A-0 *113
Registered
,
10734 .Aug'11 ....t 1071
1933 M-N 1074
/
2 108,
4
Pitts As West 1st g 48 11/17 4-4 97's
9738 Feb'll
MU L6 tril West Lit g 63 1921 13.8 114 1154 11444 Aug'11 —.0144 1161
9408 97%
/
2
• Stat
lty 1st gug41
/
24 1943 4-1) 81
Ext&
Imp
efundgba 1929 F -A 110%
100 NO3'04
11038 Au8'11 .... 109%111
Sew% Creek See.Ni'C&li
Ashland Div 1s1 g 03_1925 M-S 118
1421
/
2Feb 1110 — .
Bellev do Car tSce 1111nols Cent
311oh Div ling 63
1924 J.J 1181$ 1197 11S J'ly'11 ....' 1113 118
Bruns & West See AU Coast L
Chile Rock 151.8 Pac 64.-1
J-J
104110
104
1
Aug'11 .....: 104 110
9
9
8
1
8
7
:Banal.) N 6, Erie See Erie
Registered
109 Aug'10. '
1917 J.J 10838
illuttalo It & P en 641037 M-S 1181
General gold 44
1123
/
2
,Marl 1
112%113
4.3 9534 sale 9534
0378 20 953., 9578
j. Consol 41
/
2a ........1957 M-11 105%107% 1074 Aug'11
Registered
107% 1083
001
/
2 1/84 b'el)'10
,
1988
'
All & %Vest 18t g 43 gu..11/08 A-0
97 1,0'11
Refunding g 48
887,Salt 837i
97
97
A-0
34
00
'1) 1 22 88
01 6, Malt lat isu g 5s....11)43 4-4 109
Coll trust Series J 45------412 M-N
103 Ply'08
il7 Le J'ly'10 ....1 -----.
.
.;kiii;
.i
Jim% & Pitts let g 68_1921 F -A 1148
.31
11434 rue'll
1141
/
2 11434
1915
903
3
8
0
4
91¼
M-N
4
'poll
....,
903
cousol let g be
1022 J•D 11614 11735 1 i628 Moen
N 4s
1101
/
21107
,
111990111876 M-N 96 035 1)4 Dee'09. 1
(Bull & Suag let rot g 43.611951 J -4
72 Mar'10
0 43
71
011-N
9535
1144 May'10.
•BuxlJkt&
.S'ee C It & P
P48
M-N 9414
0434 J'ne'll ,... 9135 1)444
Ian So 1st ex t Os
1913 J-J 102% Sale 1021
Chic It!& Pao RR 48 200
/
2 10% 12 10214103',
7214320 72
77
2002 51.1'S 72 Slue 72
%-.120 be
11)1313-S IOU
1001
R
1014
/
2
egistered
2 1001
a2
,6
/
210138
hi N
704 J'Iy'll .... 744 7514
Registered
!
1913 64-8
10934 Jan'11 .••. 101/34 111034
RI Ark& Louis lat 41
'J4
93
/
2
a
....,
J'iy'l
1934
M-8
1
93
94
93
Caro 6, Shawn See Ill Cent
tiur It 63 N— lat g 03 104 A-0 111
/
211'21
11118Aug'11 ..... 1111
/
2
'Carolina Cent See Seab Air L
Registered
,
1934 A-0 110
/
2 m 800
1201
it lai'd8 SeeLltJkt&K
011,11& NW latgu 53 11121 A-0 103
/
2
Feb'll .... 1031
/
2101
/
2
1061
Ceu Branch By See Slo Pao
M 6,St L lat gu g 73_1027 4.11
............
....
.
Cent et Lia RH let g 58—p1945 F. 112351131
Choo Olc & Li lien g 53.o111111 .4 102%103110234 Aug'171..... 1021
1121
/
2 11341Aug'11
/
4 1141
,
/
2
/
2 1023
Conaol gold Os
1945 5141 109 110 1091
Coneol gold os
/
2Aug'11
1074 110
/
2i
/
2 1091
1952 M-N 108 10834108/
1
2J'ly '11 .... 1081
Registered
11145 11-14 1117 107¼107 J'ly'11 ..... 107 1.07
Kook as Deal!18158------423 A-0 98 102 ,101 1ug'11 ....'1101) 108
1st prof income g 5a....p1946 Oct
98
,Aug'11
61: & N 0 See Ill Cent
901
WI 108
Stamped
/
2 Chia St L So Pitta see Vaunt:0
4 1001
/
2 May'll
101
I
2ci pret income g 08....p1945 Oct 4.
I
101
10614 Ohio 131 1' Mdl U con Os...1930 J.D 1233
1251
/
2
,l24,125 Aug'11'....11124
2d wee income g 58 stamped
Cons Os reduced to 3123.1930 .1-13 8835
100 May'l 1. 100 100
11
' 93 Dec'03
------- •
11V.CEI,LANEOCS BONDS—Continued on Next rage.
:
—
-----------Street Railway
Street Railway
Srooklyn Hap Tr grill
1946 4.0 1021
/
2105 1031
/
2Aug'11 .„. 102 1043 5et St lty gen col tr
/
4 79
731
let rotund oonv g 4s
2002 4.4 834 bale 83
831/2 U6
g591gL
451
/
2 48
3
741
/
4 77
Ilk City 1st con 53.1910 1941 J J
101
1417thA
1nt15
101,
3 Ply'11
'48
:
v lstog581943 3-0
10144 10234
Aug'11
Bk Li Co & 6 eon gn g 58 1941 ‘1-8
col& Uth AT 1st gu. g 53.103 M-S 98i,1403
118 Duc'11)
100 101
°4
L.,
1(1
)
1
1
.01:‘,
"1
Ill4
Ja\
1'
g
'
1
0
1
34
1
1
I 11k Q Co & S lst 5s
1941
J
100
Lox A.V do P Flat gu g 54 1993 11-S 991,103
/
4
/
21001
901
,
J3klyn Lill El let g 4.58 1950 F-A 1011
11 1001,1034
/
2Salt 101,
.
t 102
Third Ave 11,11. con gm 4s 2000 4.3 97
61/
701,
I. Stamped guar 4-53— 1950 F-A 102 Salt IOU
1 1001,108
102
Cent Tr Co certfs stnipil... ..— 63 Sale 03
/
2 12b 58% 7034
041
Kulgo Co El lat g 48— 1949 b`- A
Si",
8435 13,, 4.:
Third Ave Ry let g5a..1937 J -J 104 IVJ ja 1.13
1011 111
1:Jl
tu
nid.
619
11
Stamped guar 4s
1949 F-A
821
/
2 851
/
2 N Onl Ry & .Lt gen 41
84
/
28 .1933 1-J
871
/
4
Nassau Elea gu g 4e
1.9b1 J-4
'18
, 8U
81
763
79/
1
2 Ang'11
St jos RyLt11 & P Dit g 53 137 NI-N
1)8
Cohn ay& List& ref g 41
/
28'51 J.4 1014
1013
4
1013
Apr'i
,
1
,
1013
zit Paul City Cab con g 56.1937 4-3 1064 08 it 11
1.:11
r
vi4
106
I
C
A
Ap:g
,
,2
1
10(34
7
0
0
'8
Stamped guar 41
11/3.1 ,j.J 1011
/
2s
101 1021
/
2
/
4 Tri-City IV& Lt 1st a f 58.1923 ft 9
1024 J'ly'11
t37' 91)
pet United let con g 4/
1
24 102 -4
8178 824 a'ne'll
801
/
2 823
, Underground of Lon 5s. 1920 44 N
98 Apr 09
Havana Elec consol g 53 1952 F-A
4 0411 1)13's
, 08
0734 Sole 973
41/2s
14
nter.met coil 41$s19313 A-0 773
,Sal.. 771
73 20'. 7714 83
Income 6s
111:28 j-j 0 V1/24
13
ter [tap T Sc Ser A
1952
1031
N
/
2 10338 Atig'11
103 18 11/41
/
2 Union El(Chic)1st g 53_11,43 Alb
nteruat Trac coil tr 48-3949
'..
73
674 Mar'10
Unitec,Rye St L 1st g 44.1034 1-4
Aug'11O
0
1 .....!,. 11011:1 8:::::
g' , liS
(ug
7 42 8
)
A
1);(
_7
07
i5)8
01
mina Lilac let & coil 53.1953 v1-8
91)
08 May'013
United Rits San Yr of 43.1927 4.0
t *No price Friday; latest this week. 'Mat. aDue Jan 5 Due Apr e Due May g Dos J'ne —ADus
—
— — --—
kLitte—Ang *Due 004 p Due Nov s Option
Saks
,t
•-•
•
•
•
•
.
•
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..
•
•
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•
•
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„ greiu,::11
t
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•
•
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•
•
•
•
AUG. 26 1911.}
New York Bond Record-Continued-Page 2
BONDS
N. Y. STOOK EXCHANOK
WEnit 141ttniNo AUGUST 25
_Price
Fridau
August 25
Week's
Range or
Last Sate
Range
Since
;3:?, Jct-,xuarii
1
BONDS
N. Y. STOCK EXcli A NG It
WititK ENDirtit AUGUST 25
Price
riday
August 25
515
;3' I
Lange
Week's'
Since
Range or 0-8
1 Janliant I
Lax) Saki" 4;(,
Lo, hitaa
High No Low High Erte dl Pitta See Penn Co
Bid
Ask bow
11ion
Chic St P M & 0--(Con)
ntit
ASA, Low
101 7,Aug'11 .... 11176 113
124 1254 Evans & '1' 11 let cons 08 1921 3-3 112
MAY'l 1
Ch St P & Minn Dagiii 1913 191.11 12334
102.4
let general gold 53
1021e AUg'11 .... 101
1942 A-0 1021*
Nor Wisconsin lit 68-1930 .1•J 123% 123 129% la ay'09
Zit Vernon let gold 6a 1923 A-0 107138
114 A pt '05
111%11214
St P & S City lit g 6s 1919 A•0 1111,21124 11134 Aug'11
Sub
Co
95
J'ne'Uit
Briuich
1st
108
I
108
1094
g
53
1930
95
A-0
Chic& West Ind gong 6mq1932 Q-M 108 bale 108
So
stp
92% 931
,
Consol 50.year 4s
1952 J. J
9214 9214 Aug'11
1,4111rngt°
&
6'
Pe 51.
8"i 3e;
t t1.
4
'
e Mar
Chic di W Mich kie$ Pere Diarq
1
,
1a
CS,
Penin
See
Sea
Air
Line
Choo0& Gulf See CIII & P
/
4 27
101i4 .Ply'11
971
101 1011
1
4..3..1959 J.D 98
/
4 Florida E Coast let 4/
971a 97
Cm II Je D 2d gold 44s 11137 J • J
92 Aug'l0
1021
/
4 104% Fort St U D 001st g 448.1941
901
/
4 05
D & I lit gu g C,s 1941 M-N 104 10432 103 J'13,'11
ift
W
&
1
lito
Or
Mar'l
b34
821
/
4 84%
lit
g
88
/
4
45 .1928 J -J
13)3
88
831
/
4 831
C Find & Ft W lat gu 4s g.'23 M-N
3 a1 liar & A See So Pac Co
88
884
8811 Aug'11
Cin I ea %V lit au A 48.1953 J -J
83%
Jial It& 11011882 1st 65.1913 A-0 984
97%
105 Alay'l 1
103 105
971
/
4 981
/
4
ludDeoJi W 1st g 6s 1935 J
lob
Georgia & Ala See sea A Line
1071.2 Dec'02
......
lat guar gold 6s
1935 J-3
Ga Car & Nor See Sea A Line
C St. L 0 See000&StL
Georgia Pacific) S'ee So lty
Cin S & t.) See C St L
Ulla YU& Nor Sea So POA3 CO
Clearneld & Mali See li ISdiP
()Orly di Oswegat See N Y Cent
92
9234
8 93
86
92% Sale
Clay(Jul Cifs st gen g 4.8 1883 J•D
Grand
Rap& Ind See Penn RR
92
92
02
Cairo Div lit gold 48.-1939 J.3
Gray's Pt Term See St L S W
934 Lec.lu
92
Cin W& Iii Div 1st g 45.1991 3-J
Gt Nor-0 14 & Q coil tr 4s 1921 -3
92
/
4 98
/
4
961
/
4 115 951
1 91% 94
(13a Sale 961
914 91.1s 92
St L Div lit col tr g 411 1990 11•N
Rogistered../i
/
4
91 Oct '07
95% 981
9678 J'ly'11
1921 0-3
07
00
1900 11-N
Regiaterett
......
u9i,
)
96 Dec'09
St Paul M & Man 4a
/
4
981
/
4 991
1933 -1
99
Spr di Col Div lit g 4s 1940 11-S
list oonaol gold 68
/
4
1933 914 Dee'i
126% Aue'l 1
125 1•471
9014 92
WW Val Div lit g 48 1940 J -J
125'4
Regi8tered
1933 J -J
1054 Aug'11
132 Apr'09
100514106,14
0 1 St L & 0 ()tinsel 08 1020 M-N 1054
Reduced to gold 414s 1933 J-J 104% 1064 105% 1053A
2 105 1061
/
4
96 311(311
964
96
k11)36
07
let gold 48
Registered
96 Ang'10
1933 3-J
1081 .1'ne'09
k1936
I' 954
Registered
&font ext list gold 4s 1937 J -D
/
4 984
98.8
951
10634 Jan '11
106 10684
Oln & Cl con list g 5s..1928 .J 107
Registered
98
Oil
1937 J -D
98 .1'ne 11
98
1074 Aug'11 .
1914 J•D 1074
10715 1077
0(JO & consol78,
E Minn NorDivlst g 4s1948 A-0 96% 99% 9334 Jan '10
1914 J-1)
Cense'sink fund 7s
ghat Union 1st g Os 1922 3.3 1151
/
4
11414 J'Iy'll
125 14 Fob'1 1
1254 125 14
General conuol gold 68 1934 J •J 123
Mont C list gu giis
1937 J-J 1281
1287 Aug'11
/
4
1934 J
Registered
Iteg,istered
1937 J-J
04 J'ly'08
13914135306
End BE& W lit pre; 48 1940 A-0 98
1st guar gold Os
1937 3-3 112% 114 1124 Apr'l 1
0 Ind & %V lit pf 58...a1938 Q•J
WILE & S If lot gold5s 1938 -1) 1134
11234 lfeb'll
91 4 J'ly '1 I
90
93
Peo dl Eget let con 4a 1940 A-0 91%
1990 Apt. 45 Sala 45
45
17 45
Ineome4s
61% Greenbrier My See Ches dl 0
Gulf
13t rot t Si 01352 3-3
92 Aug'11
884 82
Cley at Marietta See Penn Itlt
LI out/atonic) Bee N Y .51 11&11
()ley & Pitts See Penn Co
'lock Val lat eons g 448 19
99
99 ;
1024 si
62
(3314 9 s32
J:
r J 10212 Sale 102
1947 .1
69
03% Sale
Col Midland let g 48
1tegiatered
1004 Sep '98
96.8 98' 96
961
/
4 14 94/8 9714
Colored.> es Sou lit g 48 1929 F -A
95 Nlay'll
94
96
Coi & MV list ext g 48 19481A-0 954
1035 M-N
8 98
96%
97
954 96
Relund & ext 448
9834
Col do Tol bit ex 48
1)6 Feb'l 1
1953 F-A
94.611
96
90
111% 114 112 Aug'11
111% 113
Ft W 5, Den 0 lit g 63 1921
Roust E dl W Tex See 60 Pac
Colum 5, Greenv See So lty
Roust&'Vox r)isi bee So Pace°
001 di Rock Val See Hock Vai
Belt & Term 1st 58.1937 13-3
10041014
101 101 J'ly'11
Col & To! See Rook Val
I thews Central ist g 43 1001 J -J 1014
101 Aug'11
1004 la
tiol Conn es Term Bee Ndi W
J.j 100
Registered
107',
au:
'07
g
itivalat
48.1943
Pas
A-0
Conn &
lit gold 314s
5 J
'
91 Aug'11
90
191
1952 j.j
801
/
4 91
Cuba RR lit 50-yr 6 g
IOU 513Y'10
Registered
83 Apr'll
90
1961 J -J
89
89
ltak&GtSo See C 11 & tit P
Extended let g 332a
1951 A-0 884
9315 Iday'011
SessMlIdlT
Waco
1-781111.30.5
80
J'iy
'09
lit gold Si sterling
1951 M-8
Del Lack & WesternColl Trust gold 4it
994 Aug'11
9914
1952 A-0
18%
98
107% J'ly'1 I
Morris & ESSOX lat73 1914 M-N 107%
1076810634
Registered
1,
15
23
1-N
0 044
11814 Aug 11
98% 9811
1915 .1.1)
11038 111.4
lat consol gnarls
110% 110% J.1313'11
96%
lat ref 4s
964 66 964 98
1)614 aI
Registered
1913 J-1)
111.8 Doo'10
......
1
57
87
Purchased lines 45
86
87
86
9i Jan'll
11.1324-J
91
91
lit ref gu g 34/5
200t) J -D
90
98% J'ly '11
/
4
1. N 0 & Tex gold 48 -11153 11-N
9812
9719 981
/
4 J'ne'l
115%0104
N Y lAck & W 18t Ou 1021 J •J 114%1151
/
4 1)01
9,414 94% Jan'll
Registered
11/53 :.11-N
94% 114%
10714107¼
Construction Si
/
4 May'l 1
1071
1923 If• A 106%
FoOl1.
117
1.,
Cairo
Bridge
gold
9614
48
1950
96
374
J
-D
J'ne'l
1
99
99
9912
Term & improve 4s
1923 PA-N
110
85% Aug'11
LoutsvDtv&Term g345 11153 854 871
/
4
8554
Warren lit rof gu g 31,8 2000 F- A
1024 1folP33
87,
3
12:1 ma) 911
Middle Div rog Is
1921 If-A 105%
115%118
Del Ss find 15% Pa Div 73 1017 1143 1151
/
4 11578 110% 11534
14
J'ne'll
76
Omaha
75
,
1
Div
let
g
38
751
1951
F
/
4
Aug'01
A
781
/
4
Registered
149
1917 11.5
704 jau'll
St Louis Div& term g 38 11)51 J -J
98 100
75% 761
/
4
98 Aug'i I
10.yr cony doh 48
1916 J -D
138
Registered
11.51 J -J
101 102
lot lion equip g 41
/
43
10114 Aug'11
J -J 101%
1
(Iola 34a
8634 87
1l8'* .11 9741004
81
88
871
/
4
19513.1
1943 M-N
list &ref 48
/
4 Sale 98
981
91%
101 18 vet '99
Registered
9134 6 91% 941
/
4
1951 J -4
1946 A-0
Alb & dui cony 340
92
100 Nov'uu
Spring Div lit g S1
/
4s. 1961 J -J
86
/
4
123%1241
124 Mar 1 1
Rena & Saratoga lit 711 11121 M-N 122
Weetern Lines 1st g 45_11151.F-A
96 Aug'11
9613
Del lily lilt Bridge See Pa lilt
13ellev & Car let Us
117's 61AT'10
804 11 0058 04
11)23 J-1) 113
901
/
4 90%
1930
i i .J1
90
Deur & It Or 1st oon 48-1
(iarb as Shaw lit g 4a 1932 M-8 9434 ..... 9514 Oct'10
Consul gold 45s.8
/
4 1011.5 Dec'11)
98 1001
114
11578 114
C1II0StLdlNO g 58-1951 .1.1)
improvement gold 53 1928 J -I) 97 10014 9g A.utel 1
985.101
1
89¼ 12 SO
Registered
114
1355 F.a
93%
1951 J-D .114
let Jo roluuding Sc
89 Bale 89
uold 31,2,1
90 Oct'09
8514 87
104% 104.4
l0434 2Jar'11
Rio GrJuno let gu g 68 1989 .0
/
4 Aor'l 1
Memph Div let g 4s 1
98
975. Alar'10
j-1) 415
951 J-13
1 951
61% 01%
axo Gr So 18t, gold 48-1940 -J
721
/
4 011
St L Sou lit gu g 48. _1931 3.1•S
96 J'ly'08
Guaranteed
So Kan),
1940 J -J
......
88 4 3 SS
92% Ind lih& West SeC000&lItL
1939 I
t(io(iv West lst. g 48
834, 89
84/
11
4 I'no'll
94
U64 9618.7'ly '11 .... 95
96%
111goaud col trust 4.11A 1949 A.0
/
4 85% md III& la lit g 4s
831
83
'11 S._ 107 4 109
Int & Great Nor ling 65 195
108 J
97 Jan ',/2
Mfsl
- j 10834
919
0 jUtah Cent latgu g 48 a1V17 A.-0
101 103
Iowa Central let gold 55 1938 J -D 101% 103 102
D See & St
Des lioi &
09
63
Uolsi 4s
67 Aug 11
644 68
110 Sep '04
Des Oloi Un My lit g 56 1917 Ji-1L1 100
James F & Clear lit 4s. 219
941/ 1/4.1
/
4J'no'l
b4.% 951
I-D
S
/
4
94 Sep '11,
959
1 M
Del & Mack let lieu g 4,1 1990 J.1)
98
atlAdoUlt SeeLn,axn
96 J'ue'l 1
884 95
Gold 40
MTh .1-1) 93
1111C0 See Tol & 00
70
70
Del So-0 S Div lit g 48 1941 M-8 65
70 Aug'11
SeeStl...t 3 if
1074 l09 4
Dul di Iron Range 18LO/3 1937 A•0 107 Vci5
K(.16,M.11,61,14 SeeStLaSlf
Registered
1937 A-0
1084 1064
1911 J -J
Id Os
.104 104. han C & Yacillo See M 113 & T
104 If11611
Kan City Sou 1st, gold 3a 19511 A-0 741
7414
1 7334 7.1%
/
4
/
4 741
/
4 741
Dul Short Line See Nor Pao
ttegiutered
Oot '400
A-0
103 108
Dui So Shore & All Os 11/3'i J -J 108 109 108 Jan '11
0013i 48 99141 1)1
Ref & impt 56
Apr riai (1-0
994,Salo 994
L'ast tit Minn bee StP M41, M
99% 991
/
4 Aug'11
Kansas Utty Term' 1st 4e1900 -3 99
-Oast Ten Va & (la See So My
9614 :19%
aoutucky Cent, see L& N
Elgin J ol Jo East 1st g 5s.11141 SI-N 112
112 112
112 J'ly'1 1
littok di Des 510 See C 15 l&P
kini Curt di No See Leh& N Y
1920 13-S
Erie list cameo! gold 7s
1184 120.8 Knoxville & Ohio See So My
118.4 1184 Aug'11
108141111
/
4
1004 101 ,15 I ako Erie & What g 58..1937 J -J 1084109 1 10914J'Iy'll
N Y dl Erie 1st ext g 4s 1947 M-5( 10W4
LA 20 gold Sot
/
4105 141041
/
4J'Iy'11....,104% 1041
1941 J -J 1041
1911 11-S 103
/
4
20 tut gold Oa
10378 MuY'll
1045. 108
North Ohio lit gu g 58 1945 A-0 LAS%
4105.
1923 M-8 10214
1 -.1108 % 110%
1014 101
104 J 'ly' 1
30 ext gold 44s
Sho & Micli 6 kfee .51 Y Cent
1920 A.-0 103
105 10634
4th eat gold 58
/
4110518 Aug'11
11051, 106;‘
/
4 1061
ltlIb J -1/ (15
99/
1
4 J'ne'l 1
J -J 11/41
91/4 9914 1.6.11.Val N lat gu g Que.
5th ext gold 4a
11041, 1041
/
4
Registered
1940 J.J 4,104 105 11004 Jan 11
NYLE &W 186g Id 13 1.1120 ALS
118 118 COL '10
9734' 9914 MO'1 1 .... 9634 97
Lehigh Val(Pa)cons 648 2003 M-51
873, 8712
871
/
4
1 847 110
Erie Lit con g 48 prior 1996 ,J -J
Len V Ter Ity list gu g 56 1941 A-0 112.4 113 i113%J'ly '11 ..... 1,13 11434
RAM J -J
86 J'ne'll
Registered
824 50
88
4,
....
J'uo
11
Registered
113 113
775. 2 7314 7934
1041 A-0 111 11113 1113
774, 7714
lit eonsol gem thug 451990 J -J
Leh V Coa.1 Co lot gug 56 1933 J -J 106
108 Nov'09 ....
1998 J -J
711., 77 J'ly'1 1
77
Registered
77
94% 6 .-9:31
LoliRN Iletguargds 1'J45 11.5
;
1951 F -A
88
94341 9434
885. 8 86
91
Penn coil tr g 4s
8914 88
I
Regiatered
73
1945 51-5
92
8514 85 Aug.!'
50-year cony 4-, A.- 1953 A-0
1 1011
/
41feb'10
1131 0 So
lst pi Cs
1014 A-0 103
Series 11 1953 A-0 744 Kai. 74
8014
rio
14% 114 69
Gold guar Os
10114 Sep 919 ....
1914 A-0 10314
110%111%
Bull IN Y i.ft, Erie lit 7s 1916 .1.1) 110%111%111 J'ne'll
Leh .0 Iiud R See Cent of N J
110%113
/
4
112 Aug'11
Ohio di Erie let gold 68-11382 51-3 1131
111 111% Leh & Wfike8b See Cent of NJ
111 Apr'1 1
Cloy di Mahon Val g561935 -.I 1101
Leroy & Caney Val bee Mal,'
124% 125
Long Doug consol g 68 1935 A-0 123 125 1244 Olay'11
Lioug hock des Erie
/
4
114 Apr'l
Coal dl ltki 1st cur gu 63 1922 M-13 1041
Uolig I
con g 54.4
41
193
0311 (3.
lUi%
1913
3-I
Q- J 10$ 110% 1094
109411214
100%
100%
100%Jan'll
cur
68
&
Imp
lit
Dock
lot oonsol gold 43
994 No1010
96
gu if 55 1940 SI-N 101
N
,t) Green
General gold 4e
1938 .1.1) 93
921 9614
964 1/3 Aug'11
104N
Y Sus es %V 1st ref os 1937 -3 1034 104% 1034 Aug'11
Ferry gold 448
1184100
1922 M-8 97 100 100 Aug'il
1.0014 lite'Ud
1037 F-A 80
2d. gold 41-2s
Gold 48
83
1932 .1.1) 914 91
99 14 Oct
......
83 J'Iy'll
1940 F-A
8714
.83
General gold Si
Coaled gold 4s
1949 M.
93
93 May'l 1 .... 13
110 110
9514
110 Llay'1 1
Terminal let gold 5s 1943 13-51 10814
Debenture gold 55
1934 J-1)
11018
1044 1.'0'
Mid of .51 J let ext 58 -1940 A•0 110 1104 1104
06
Guar ref gold 4s
96 4 Aug 11
.96
1)7
1949 M-13
99
11942 Aug'11
9(3
9) 111114
let gu g 58-1942 JD
Wilk &
Bletoong 5811M A.-0 10431)
11034
......
110 1101
/
4 N B
110 J'ne'll
Ey& Intl Istoon gug 68 1026 J-3
3
MISCELLANEOUS BONDS-Continued on Next Page.
Gaul and Electric Light
43 102 10414
N .Y44-11L 13.64 2 g Is.,..1948 3.0 102 To Sale 10234 103
59
80%
1071
/
4 10786 Aug'11
98
2 87
, Purchase money g 48...1949 F-A
88'e 88%
105'4 1083
Ed El DI 1st cons g 53..1993 J..1 1124 111 112 J'ly'11
111 112%
61
594 62a,
604J'Iy'll
/
4
1024 10114 MaY'll
100 1011
N Y&Q El L&P ha con gt,s193u F -.A
1
0
U
'
•
100%
N Y di Rich Gas lit g 58.1921 SI-N
301 J'ly'l 1 :.. 100 101
Pacific G & Eleo Co Cal U & E
;
I :tf;
corp unifying & ref 5s 193', 51-54
1013¼ 1 16
1 1II
05% 9539
953
.
1054 10,,34
.01%11%
101
1194 May'l 1 II 111
614 Oct '01
Peo uses a C 1st con g tis.1941s A-0 11614
itetuniiing gold Os
3 101%102%
00 101 100 Oct '03
102
1947 4.5 102 Sah, RN
10135.
Cht.1.1.& Cke 1st gu g os 1931 1 -I 10278 lost,
1034 J'Iy'll
103 101 4
971
01 4 10
9361 ,...
9712 93% 977/.Pini'l 1
1 1()2
134 11114
con G Coot Ch'sign g 68.'3, .1 -0
2141
102 li0
L 137:71110
91%
104 1053,, 106
90
Ind Nat ties & 0i130-yr 5a'St; 6-N
90 Marl 1
1,,,y'll
116 116 1164 Aug'11
Ain ifuel tins 1st gu gtis-.194". 4-14 L0U% 10111 101 14 [01',. 5 1004 10114
11334 116 '...
884 iii
ti
Philadelphia CO cony Us 11/15 F-A10(1 118 J'ne'l 1
87 4 90
May'll
103 1045. 102
syraouse Lighting list i 55.'5 i .1-1/ 100
1 Aigl
liui 1
1 Lull 104
,
102 102,
A
Jaung:0
Union Elea 1.,11, P 1st g 55.193: .i.s 1001
930
/
4.
9
18u .
,09 103
944
UI
90 Aug'11
96
1174 96 J'ly'1 1 .... 03
103:s -N
110
91
101
1114 J'ne'l 1
/
4 Aug'11 .... 104 10$',
i 001
etfcteestetr5leaght'g g 5s.1931., J -D 10419105 1051
/
4 101
Wiet3
. .. _.
No price Fri-day; latest bid a.nd asked this week. a Due Jan
-uic.1 ly-k,DaerAzig q Duo Deo 503171011 SalsaDuo Vet) /Due .(pr Mins Ojai ii,D
Gas urn! Electric Light
Atlanta U bOo let g 58 1047 J -I)
liklyn U Gas lit con g 6a 1945 SI-N
1047 A.0
Itulialo Gas let g lii
Columbna Gas lit g 5a
032 J.J
1923 14
Detroit City um)g 68
bet. Gan Cu con lat 11 5s 1015 F -A
1139(1 L.N 1: let con g fis 1932 13-3
Uas& Elec Berg Coe g52 1941' J-1)
oir Kap Li 1.Co let g 5s 1016 F-A
Unclean Co Sias list g 56-11141. 31-3
lst g 53192.; A-0
Kan City OM
1.0
/lingo Co 1.1 L diP g
On, A.0
eurolutse money 63
Ed El 11811 1st con g 48 1931. j.J
Lac Gun LottSt 1.1st gba.eltili, Q•if
13)34 A •
lid ann ext lit g Si
Milwau Kee Gas 19 hit 43 19
194b
Newark Con Uas g Os
103
516
New York Bond Record-Continued-Page 3
[Vora.
,s
,I .
BONDS
Z2 ts
RODS
I
Week's
r. 2
Range
g•
Price
I
Week's
ltriday
N. Y.STOCK EXcH A NGE C.5
kange or o7,
Range or ,st.
Fridge
since
N. Y. STOCK EXCI1A NOR I‘,. t
i0
Since
August 25
Wee': ENinNe AUGO8T 25
Last Sale tIco January 1
'
4 January 1
%Stagg Z8bneo AUGUST 25 C.a. August 25 La* bate
...
-Bid
high No Low High. N Y Cent & H R-(Con)
Ask Lou
Long I41and-(Cen)
Bin
Ask Low
Riga No Low Biqa
/
4
1927 M-S 1061
ki Y do It li let g 58
105 Apr'07
deetsil(Jr Ext 1st,34351951 A-0
!
841
/
4
Nor Shli let eon g gu5s01932 Q-J 101
106 J'Iy'll
Cart di, Ad Dit gig g 4e...1981 3-0 921
103,
1106
/
4 00
971,Apr'09
I
Lonisiana & Ark 1st g 58.1927 M-S 981
/
4
/
4 Sale 981
98% 7 044 983
Golly &()awe let gu g513 1942 4-12 100
Loinav & Nasav gen gtie.11130 4-1) 11'2% 1141. 1141
/
4 Ang'11 .... 1131.1161.
Mob & blel lat gu g 43..1991 M-S
991
/
4 Mar'l 1 -••••••• .
I "9-6.. 994
Gold 5a
1937 M-N 1131
NJ Juno R 2-ti let 4s. .1986 F.a 954100 105 ,/el 'lel
1121.1121
/
4 J'ne'll
/
4
1121
/
4
Unified gold 48
119 Sale , 98%
1940 J-J
N If & Harlem g 3128. .2000 M-N 90
901
/
4 15 984 994
901. Feb'll ....I 901
/
4 904
Registered
1940 J-J
N Y & North 1st g 53. .1927 A-0
Oct
i4. J
Coll trust gold be
)'t,
7
3
N,17:1?
1
1931 M.N *109
961
0;
N Y & Pa bacon gu g 43 1993 A-0
,1091
109 1003
77
,Aug:11)9
1
18534 19
I 974 974
9
Aug'11.... 111 113
E ki & Na811 lat g 6s
1919 J.13 112 1
Nor & Mont let g-u g 58.1916 A-0
Loin & Lox gold 41
Pme Creek rag guar 63.1932'J -1) 1204
'1061- J'ly'11
/
4s 1931 Id-N *1051
1311
/
4 Jan '09
/
4
1041% 105'e
N 0 Ss 61 let gold 65-.1930 J -J 1221
/
4 125 1221
R W&0con latextba.A1922 A-0 107%107% 1074 1071
/
4 J'ly'11 .... 1184122¼
/
4110
/
4 5 1071
N 0 & M 24 gold ds
118% 1198
1930 J -J 11941194 118% Web'll
. Oawe Si R 2d ga g 5s. .e1915 F-A.
J'ne'll
Patiu..131i & Mem thy 43 1946 F.A. 93
I
96 1 95%
iveiii1T)
.... 0684 064
R W& °Titbit gug 64.1918 811-N 1044 1951
J'
j,n
an
9
,
5
4.2 •j
/
4 10
Pensacola Div 0°14163-1920 Pali 1004 109 11053
Rutland let con g 4128-1941'J - J
.Mala n .... 10534 105 4
98% 9833
96%
St L Div let gold 65
.113 Bap 10
Oga LCharn lei gif43 g1948 4-3
1921 U.S
1147
87 1 894 J'ly'1 1
851
/
4 90's
241 gold 33
711
738 71i. Fe
/
4 711
1910 M-8 68
/
4
RutXanad let ga g 46.1949 4-3
St Law & Adir lat g 53. 1996 J.J 108 110 1, 19
AM Knox db On div 48 1955 M-N 95% Sale 923
93%
e'99 ••• t
92% •1•0 02
J"
Xeu
12
5 j
Ati Knox & Nor 1st g 561946 J-0113 1124 Mey'l 1 .... 1121
2d gold 6a
.1194
1996 A-0
Render Ildge lat4f g 63.193i M.
Utica & Blk /My gu 948.1922 3.J
casia 106 100 Ayr 11 .... 106 100
fra:°181
4 I
24
997........ 10
/
4 Auell .... 09.
KeetuokyOent gold 43 198 J-J
Lake Shore gold 3/
9812 944 941
96
1
43....1997 J-D SIM 89 , $19 Aug'11 •••• 113941g
,
Dee'10
103
114
!CS
LdisN & M & M 1st g 41
1946
3
Registered
/
4
1997 J-D 974 89 ' 874 J'Iy'1 1
87', 89
La N-43.outh M. Joint 45.1962 3.J
194 511.11 klt§'. ....
Debenture g 44
93% 9 93
95
,Sale 983.
1428 M.8 933
109
104i11.1411.
11
25.year g 4a
?Nla81stg6e.937-a
/
4 9434
93% 511921
,1931 M-N 93', 933 93
NaCBdgegengug413811145 J -J 1084
KaA & G It latga e 54.1938 3.4 114)1
/
4
IVO. 43111i .110 110
Pens & Atl let gu g 65-1921 F.A 1104
Mahon 0'1 RR Ist 63..1934 J.J 1124
/
4
/
4 Mar'll ....1 110% 1111
1111
/
4112 1111
8 db ki- Ala con gu g 5.8-1980 W-A 1101
Pine & L Erie 1d g 53.61928 A-0 1074
/
4rImell ..... 1111
/
41124
100 Dec'09
......
. 9284 MeY'll .„,.. 92 94
L & Jett lidge Co gu g 4.1..1945 WEI 914 923
Pitts /Sok& Y lat gu 68.1932 J.J 1234
1 Jan 029 ....1 ......
130,
1934 j...1 123 124
LNAJb Oh Bee Oil& L
2d guards .
NA anon Coal dee L 8 & Ai 8
MoKeeado .111 V lat g de 1918 J-J 108%
961
/
4 Aug'11
00%
ilLanhattan Ry ow:mot 4..1990 A.0
Mich Cent 5a,„
1931 M-fil 3101.11$ 111 Apr'l 1
96
.
1.!
.1....111
98',
104 Apr 05
Rexiatered
1990 A-0
,
09%
Registered
j.
-3
M 1
930
1Q
1,4
963
964
. 16'
Stnipti tax exempt..1990 A-0 061 97
la,
19
10
9 •Jj:n
ue
e'9
iiii; 984
.111
90 Lee'u6
h1anila RB,-Soti lines 45.1936 54-N
Registered-,
4.940 4-J
. .....
90
3L & 8 lst g 1312s
iw51 m-8
881
, 90 J'ne•us •... ......
alon!pt & B Y Bee N Y Cent
100 1147'11 . 99%100
1st g 31243
1911 3,1
biex Cent cone g 4a
ale , 87
1962 M-N
87
1 8
97
9 8
99
317
.Mal'10 .
21939 J'ly
20.year deb 4a
1029 A-0 ......82¼ 02 J'1Y'11 .....1 91 12 93
let cons Inc g 8e
19
0
prr:U
2
76
7/
1
4tia
Bat()a fitar 1stgu g 84 1989 3-0
213 cone inc g 84 trust recta.
......
1115
43.1977
Nit
re
Oh
es
lo
t
e
ds
re
tt
Internatlet
g
con
L
let
g4.
Ilex
1937 A-0 09
99se 99
994 14
0
:
1
3 119)0
9 100
79 .Nov'10
1937 A-0 9/14
Stamped guaranteed....1977 11-8
100 Dec'00 ••
Debentgurea 43
1 .... 8934 92%
Mich Cent See N Y Cent
1931 M-N
q6$
i 4 Atigu
West
Shore
Erie
let
4,2
gu 2361 J-3 100 18g8a
hild of N J Bee
8,
31
10
:101)
Registered
Mil L18 db W Bee Chic & N W
964 1 US 10018
N Y Si Greenw Lake Bee 2
163r6ii
e 4.4 ' 98 9" 981
6111 & North Bee Ch M db St 11
/
4
N
Aug'11
.1-1)
76..1927
Y
&
liar
gold
See
130
N Y C & Bud
'Dun & St L let
.... 130 130
Pacific Ex let gold 68...1921 A-0 110 113 110,
/
4 N Y .Lack & W dee D L db W
6-L118'11
/
4 1101
1101
N YLE&W Bea Er10
106 105 3'4'11..., 10.5 103
1.934 Itt-N
let eonsol gold be
70
1,2 9 66
NIC & Long Br Bee Cent of N J
91,2 8
let and rotund gold 4s..1949 U.S 70 Sale 70
74
Doe M J. Ft D 18t gu 46-'36 4-3
81 12 N 32 N H & 1-1-Non con 43.'56 M-N
94
60
941
/
4 Aug'11 .... 934 944
Cony deben 3',5
Idinn & St 1., ku t3eel30R & N
1056 4.3
92
/
4 3 89%1001
/
4
801
, 691
97 Aug'11.
9534 99
Cony deben tie
14 SLY& Sfilloongdintga'34 J -J 954
1948 .1.3 li2
/
4 130
17 129 15434
,9
9,2 13U 1291
98',J**'i0....
Harlem s-PtChea let 461954 M•N
M1118 31 & A.let g 4int gu 1926 J -J
Cent. N Bag let 4(U 48 1961 J.J ...... 9234 924
Minn Un b'ee 8t P M &NI
*24 2 9284 93%
blisalesippi Cent let 55...1949 J-J
95
Housatonic it eel. g 54 1937 si-e. 1184
931. Mar'l 1
081
1131.J'ne'll .... 113%1131
/
4 934
/
4
N 11. a Derby con ay be.1918 M-N 1021
/
4 98
&to aali & lex lat g 43...19in) 4-1) 971
97',
071
/
4 2 964 98
107 Aug'uu ..„
/
4
Providence See deb 4a..1957 M-N
g1990 F-A 8414 84% 844
2d gold 43
814 2 834 86
87 1 87 May 11
I
8118
87
/
4 102 1091. 1001. 1 1004 103'3 N I Si North Bee Ii Y C Si 11 I
1044 M-N 1001
let eat gold S.
N 1061 W rel let g 44..91092 M-S 044 941
2004M.8 701
/
4 81
1st a refund 4s
. 8 941
81 J'1Y'
11
7834 88
/
41 041
/
4 941
/
4 97
Regie 415,000 only
1936 J.J
9934 9.4 Feb'l 1
/
48
Gen a 2 41
86 Sale 86
80
8 9534 88
g191l2 53-8!
94,. 944
Gemeral 48
2001 A-0
St L Div let rel g 40
7314
704 4 78
1955 .1 -I)
/
4 794
914 Aug'11
791
91
911
. 92%
108Aul
:11 ••••105
t
Dal & Wa 1st gu g 54-1940 M-N 10$% 99%s
,9,002
2
8 10588 N Y & Put BeeNYOds 61
N y a, kt 121 fie* Long Island
KanC&Pao latg48...1900 FA
,Aa.,
Mo K & li. let gu g ba...1042 A-0 1071 109 1091.'Y 11
101 1101
/
4 N 7'8 SOAT See Erie
N Y Tex Si 31 Bee Bo Pao Co
.J'1Y'11 ....106',108
11)42 ,
1 41-3.1 1094107% 1063
M. E.& Ok let gu 68
4 0,
I1:,4
1118 Nor Si South let g be
, 1115,
/
4 1058
hi K.& Toll'let gug5s 1942 11-S 102 1061
/
41031
1941 M-N 103%
/
4
1031
/
4 Jan '11 .... 1031
y
DmLay'll
Nort Si West gong Be
SherShdbeletgu68.1943J-0
g
101
1931 M-N 124 1841
/
4 1244 J'ne'll .... 124%121'4
Improyem't db extg 60-1034 F-A 124 128',l2? J'ne'll .... 126 127
Tex& Oklaletgug6a...1943 M•S 1041
1051
/
/
4
4 104% J.30
/
4 1051
'
11
/
4
New River let g 64
1
4 sale 10741 1071
Ido Pacific lit eon g 68 -.1920 M-1,1 10 r/
28
4 1.19
alY
n ;11 1 ........, 19
28
5
28
5 J'
1932 A.0 124 128 ,19
1071.11 l
100
N Si W fly let con g 4s.1906 A-0 07% 977
5 100 102',
Trust gold be stamped-all/17 31-S 100 salt 100
ON
1 07% 991
/
4
. 9734
up Mar'10
Itegistered
Registered
all)].? 51-8
1996 A-0
Aug'11
.
1A111fo
144
li -.5 j1)()4
Div41 lett& gen g 4s...1914 J.J
e 102
92%A:1.11,59'411i ....9..,..!;180
11120 F-A 1001.101 118
let coil goldbis
0214 93
980
11N,2 11)0
90,
4122
7
10-15 year cony 44.-1932 .1-1) 1034 89
77
1945 M-S
40-year gold loan Le
00
34
Itu
ie 10
961
/
4 1111Y'll
Poceli C & C Joint 4s..1041 J-D
07
841 73 extd at 4q
1938 51- Fl
961
/
4 900
91
69 90
C(1.12 T 1st )4u. g 68
/
4 97,4
1952 BLS Ou Sale 90
lit & ret cony be
5
'
710 6! 961
96%
19
06
7 Nov
7
1922 4.3 105.
15 ,... 92
e:1
J ny
87,2Aia
Seto V& N 1.14t gu g 4a 1989 31-N
Cent Br lty let 1„.-u g 48 11)19 4-1)85.2
11 -A 9092
933
954 07
North Illinois See Ohl* N WI
Oen Branch U P letg 48 19.19
too,
94
r'08
6.5 4
r'0
10 Ma5
52 156
North Ohio kl“ .L Erie cii W I
06 10
Leroy &CVALlstg6a 1926 J -J
Nor Pao-Prior hen g 48-1007;Q J
Pao R of Mo latex g 48.1939 lf-A
98
91
/
4Auriii. 40 08%10034
.Sale 5
003
/
4 MaY.-1 .1 ... 1091
Registered
/
4 1081
/
4
2d extended gold 53...1939 J -J 103% 10914 1081
1007 Q.J
•
98
994
;,..., 1
Augll
EitiarM&Sgeneon g 6.1031 A-0 108 1084
General Den gold 3s....a2047 4-F 70 Sale 70
63
,
84
1210
18
10:
iiti:151.1:::,:
,:....
70'a 20, 70
1813,. 108
71'3
Gen con atamp gtd g 5a 1931 A-0
Registered
a2047 4-F
691-2
694
St Paui-Dul DAT g 44.-11196 343 86 9
Unifled & refgold 48-11129 4.4
/
4
/
4 871
'11 ..... 90
,.... 831
791
13/
4 69'2 J'ly
88
Mgr'll
99
85 Aug'11 .... 841
/
4 83
Riv Si G Div let g 43..1033 M-N 831
Dul short L let gu 53..1916 M-13 903
/
4 83%
102,
0,611'10
Verdi V I 43 W lets 53.1926 341-8
08& 4eon tr 4s eee tat Nor
.122 120'4 J',10'11
iSt P & N P gen g 6a....11)23 F-A 11641164 1161
Slob & Ohio new gold 68..1027 J -0 1201
120 122
/
4 J'no'll ....'lip, 11634
6
Registered certifie's..1923 Q.F 1151
1st extension gold 68..41027 4-J 115
1158,Aug'11 -.111158, 116%
/
4
19313M-5 86 88
87 Aug'11
St Paul & Dui let 6a. .1931 F-A 108
Etenerai gold 48
87
86
110 A1/1"11 . 110 1104
&ni Div let g ba 1947 F-A 110
hIontgo
2d bs
,
191.7 A-0 101%
1n106:19
0
1 ....... 102% 102%
0
10
6
23
4j
jA"x
'10
1st cousol gold 4a
St L Cairo coil g 4s..e193U 41-3' 80
1908 J-D
Guaranteed g 45
1931 J -J
Wash Cent lat 944
t/i/
1
4t"
ar:111 .• V/114 .4
91 1.Apr'll ....;! 911
1 1a
11148 4-M 90
/
4 911
,
Nor Vac Ter Co let g 68-1933 J -J 1114
111 & 0 coil 48 Bee Southeru
1118.3an'll .... 1118,111%
Nor Ily Cal Bee Bo Pao
tdoliewk a Mal BeeN 1:00,H
Nor Win Bee(1 SIP .51. & 0
Monongahela Rix Bee B &0
Nor & Mont &so N Y Cent
Mont Cent Bee St P bi a Ai
g i Ind& W /lee 0 C 0 a St L
Morgan's La & 1: Bee 8.P Co
lihio ltiv RR Bee Balt ob 0
Morrie & Essex Be.Del Le NV
Mash Chat a St List 78.1913 J -J 1051
/
4
1051
/
4 J'ly'11 ..., 105%10613 Ore dr Cat Bee So Pao Uo
/I 1st cense! gold 54
Ore Short Line Bee Un Pao
1928 A-0
110 1093
.Alla'11 •••• 1091
/
4111
Oswego Si Rome Bee N Y (1
Jasper Branch 1st g 68..1923 J -J 116%
1.)40 Coast Co lat g 58-.1046 44) 105 10713 1051
Meld M. W a Al lat 64..1917 J-.1 1074
1
i0
10
/
4J'ne'll •„. 105 108
51
41 I
leo°Y;118.1 ae ot Missouri Bee Mo Pao
T & P Branch lit 64... .1917 J -J 1074
118 J'1Y'04
• ..
Penn RR let real eat g 42.1023 191.1.1
Nana Flor & Shot Bee 1:ds N
10013 10043'4'11 ...., 101 102
Coils& gold be
914 8 91% 954
1
43 1957 J -J
Nat Rye of Mex pr 14/
9134
91
93
1919 31-8
110 108 I'ne'll •••• 108 108
1977 A-40 824 17
Guar gen 4.
Oonsol soul 48
85
,1031
/
4 J'ne'l 1 •••• 1031
1943 M.N
1023
85
,
8 84
8934
.1034
10134 19034 Feb'll . 17
Nat ot Mex prior lien 41
/
44.1926 J-J
Convertible g 34e.
4
03
93
891
/
4 6 9634 90%
N 1,
1912 10..N 094 993 994
0
,
0%
let consul 4e
2Ang11
1951 5--0 771
Ooavertible
/
4 $01
/
4 801
g 31/44
1015 .1-1) 9934 Sale 1 96%
1167
, 52 96% 974
New 11 & 1) Bee N Y N it dis 11
C
Aonso
mog 1 at
olge
d4
negu g 42_1
19
10234 6 102 1041
018
2 1441
m.
,
-N 108 Sale 102
,
1 Y Cent
N J Juno RR Bee .1,
1004 997,Apr'll
i 007,1004
N Y Skin 4 DWI Bell Bee 1.1
D ft It It& Bge 1st gu 489.'86 F-A 100
Phila Bat& W let g 4e..1943 31.14 1011
N Y Cent di kJ Ely g 3128.1997 J.J
8$',$.a]. 88
/
4 102 1014 Aug'11 ,.. 1011
884 1 21% 99
/
4 1021
/
4
Registered
Sod Bay de So let g 6a. .1924 .1 •.1
874 iiil
871, Aug'11
1997 3,1
102 102 Jan '03
86% 81)1.
Deben g 4e193 M-N
93
UN J RR.&(Ian gnu 4.4.1944 M.8
93% 931
/
4
1131
/
4 2 924 941
/
4
1021
/
4 1031
/
4 May'10 •
Lake ldhore coil g 61
/
48.-1998 F-A 79 Male 79
781
/
4 27 70
24.1921 3-4 10314
/
4
80% Film Co-Guar 1st g 4,
104 J'Iy'll •„. 1031.1041
Registered
7714 791
Registered
1900 F-A
/
4 7712
104 10275 Marl 1 „... 1027.1027
,
1921 J.J
2 77314 7934
Mich Cent cell g 8124
19118 F-A
701
/
4 78
Guar Vie cell trust reg.1137 11.81 86
78
11 76
704
90 Ang'lo
Reguitered
751
, 7612 1 714 78
1998 F-A,,. 77
Guar 344 coil tr ear B. .1941 F.A. 99%
Beech Creek lac ga 945 1934 J •J
99••
981
Tr Co eertif's gu g 3124.1916 ll-N 971
/
4Dee'10 • .9.1 .
/
4 Sale 9
87
8561
/
4j'IY9'112
98
7
• 8
7 1 •••2
L37
9%
Registered
99 May 11
193 .i-J
'99.. 99
Sit 344 tr cite()
....
87 Axg'10
1942 J -I) $712 90
2i1 gu gold ba
19813.4 1011.......
Oa 3lestir etas D
1944 3-0
801
/
4 88 J'ly'11 ....' be
98
MISCELL4NEOUS BONDS-Continued on Next Page
81,
_10
4
791.
Coal and Iron
31anufneturing & Industrial
BO& Suet! Iron 51 58....1982 J-1) 9131
97 Feb'll
Allis.Chalmers 151 Iho
964 07
1936 3
es% Sale eve OS% 6 6$'.79
Debenture 68
2192U M-8
Am A.g Chem 1st e lie
90 3'17'11
89
90
1928 A-0 101%1081
/
4 1014 101 14 25 1)111.102',
Cot & Co gen Ai I g 63..1043 F
1014 100 Axle 1 1
971.1024 Am Cot 011 eat 4,28
1916
984 7 9714 WI%
981
,Vale 97%
Convertible deb g 53....11111 WA
10014 J'ly'11
93% 1004
Deblen 114
90
1931 ricx
/
4 A.14.9'11
97%
96% 961
Col Indu Lit& coil 58 811..1934 r-A
1678
731
791
/
4 Am linie a L lst• g 64 1919 M-8 981 Sale 984
734 -74
991
/
4 15 964 100
Contin'tal C 1st t gulls 0.1952 F-A 1,801
/
4
107% 1)eo'04
_
Amer Ie. Scour deb ‘64-1925 A-0 70
66
78
76 Aug'11
71
Riv Coal & lat g454-191 4.-0 90
102% A.pr'0
Am Smelt Baeuritlee a t 64.1916 F-A 1011
101%
100% 104
/
4 Sale 101
Jell Si Clear Si I let g 53.192 J-1)
Am Spirits Mfg 1st g 64 1915 .1-S
107 llay'07
102 rly'11 ...• 100 102
102
Kan& £1061 01st atgSs.l961 .7.3 901
/
4 101 1051
Am Thread let col tr 44 1919 J-JI
/
4 Da4'06
am May'11
921
/
4 93%
93%
Pocah Con Collier 1st f 64.'57 J -J
1151
/
4 86 Apr'l 1 .... 31.1
16
Am Tobacco 40-yr g 6
1944
.hug
1044 9,14* 102% 1041.101 1021
411 L Rock Mt Si P let 50.1955 .116
86
tts 8410'ne'll
48.
8334 68
1951 P- A
7111
/
4 931
We 62
933
,
/
4
Sunday Creea Cog be....1944 J- J
78 Feb'07
Am Writg l'aper 1st of 54.1919 1-J
904
901
/
4
11 891
/
4,
90
9 44
Tenn Coal gen 543
.103*. 1011', 1031, 14 1011
1951 J-J 1033
/
4 1041
/
4 Beldw Loco Works let 64.1940 U.K
108'23'4'11
101% 10,',
Wenn Div let g 6e
21917 A-0
077
41
/
.
4
%
7 ;'ne
lay
r'1
101 189
11
105 lots t., della 814301 let eat et 64 1926 J•J
911
/
4 96
841',
1
firm Div let canoe! 84..1917 4-3 1048
/
4 1947
,104', 1041
1 1041
/
4106
)ent Leather 20.year g 64 192.5 A-0
67 911.100
Cab CM Co let gu g 64 1920 J•D 14)5 110 110 Ian ,o .
1
91
Cons,'Tobacco g 411.
911
,90
1951 P-A
Victor Fuel lit t 5a
1983 4.3
0714
17 Aieg'11
•••. 81- $8', (Nara Prod Ref f g 64
1931 )44
91
0734
Patron Coal dbColet g 64 1949
WI 971
/
4
.... 914 98
1st 25-year it gs
9831
1934 14-N
9101 IT'.
No price Friday; latest 1314 and asked. •Dne Ja bDue Web •Due May Due 3'ne /4 Due
kDits Ang •fta•00$ pDe Nov Ipso Die f Inate
AUG. 26 1911.1
New York Bond Record—Concluded—Page 4
110N118
Price
N. Y. STOCK EXCHANGE
1)-iiia?I
Wwng ENDING! AUGUST 25 41
; August 25
Penumylvania Co—(Con)
uuer 15-25 year g 4s
1931 A-0
CI & Mar let gu g 4728 1935 M-N
& P gen gu g 4,
2s ser A.'42 J-3
Series B
1942 A-0
8ories C 37.2s
1948 11-N
Series 1) 48
1051 If-A
Erie & Pitts gu g 3/
1
48 13 1940 J J
Series C
1940 J-J
GrlC& lox 18t gii g 4,
281941 J-J
Pitts Ft W & C 1st 7s 1912 J J
2d7e
J -J
30 78
7,112 A.0
Pitts Y& Ash 1st con 58.1927 111-N
PCC&StLgu472sA...1940 A-0
Series B guar
1942 A-0
Series 0 guar
1942 31-N
8eries D 45 pier
1945 51-N
Genes R 3/
1
4 guar g
1949 F-A
Series G 4s guar
1957 )11-N
C St L & P 1st eon g 50 1932 A-0
Pensacola & Atl See L & Nash
Pito & East Nee CC(id, St
Pee 8.5.Pek Cu let g 08.-1921 Q-F
51021 MN
2t1 gold.442s
Pere Marquette—Ref 45..1955 .14
Reltuading guar 4s
11155 J.J
1921 J-13
Cli & w BBo
1920 A-0
/flint & PM g Os...
1939 M-N
let °ousel gold 5s
Pt Huron Div 1st g 56 1939 A-0
Sag Tus & 11 1st Ku g 48-1931 F-A
Phil B & W See Penn RR
Philippine Sty 1st 30-yr s f 48'37 J-.2
Pitts cal & lit L See Penn Co
Pitts Cleve& Tot See B & 0
Pitts Ft W & Ch See Penn Co
Pitts MoKees & Y See N Y Con
Pitt8 811 & L 5 1st g be 1940 A-0
1st °ousel gold Le
1943 J -J
Pitts& West See .13 4170
eliding Co gen g 48
1997 J-J
•
II-19 Registered
1997 J -J
Jersey Cent call g 45-1951 A 0
Rene-sewer & Stir See D do LI
Rich & Dan See South ity
Rich db Mock Bee Southern
Rio Or West See Den & Rio Or
Limb & Pitta Bee B it Si P
Runic, Wet & Og See N Y Cent
Rutland See N Y Cent
,
,ag Tub & H See Pere Alarq
701.10 Si Ur 1st 1st g 4a 1947 J•J
6c L & Cairo See Mob & Ohio
dt L & Iron Mount See Al P
St L Al Br BeeTB1t.oitj.
St Louis & 8 F—long 08.1931 j.j
Ueneral gold fie
1931 J •J
St 1.& 8 le Rh eons g 48—'96 J-J
Gen 16-20 yr 513
1927,1%.11
Bouthw Div 1st g 55-194.71A.0
Reluuding g 49
1961 J-J
KU lit S& 11 con g 08 1928 M-N
K OILS & M lty ref ir4s 1936 A.-0
K & it& 11 let gu be.1921) A-0
Ozirk& Oh C 1st gu 58 g.11/13 A-0
lit Louie So See Illinois Cent
Sib S W let g 4s lai ctis.1989 51.-N
20 g 48 inn bond ctle...p1989 .141
()ousel gold. 48
1932 J -1)
Gray'ePtTer latgug 58 11/47 .1-0
lit Paul & Dui See Nor Pacific
Alum & Man See Ut or
eic P & Nor Pau See Nur Pee
dtP a616'x City Bee C StPM OW
6A&A.Pass1stgug4a1943 J -J
SIfSb NP Isisiugi g58.11.119 J J
say P do West See All Coast L
Scioto Val &N E See Nor do W
Seaboard AL g 48 stamped '50 A.0
Adjustment 58
o1949 F•A
Atl•hirin 30-yrIsc g 4e e11133 M•S
Oar Cent 1st con g 4s...1949 J -J
Fla Cen & Pen 1st g 68.1918 J •J
1st land gr exc g Os —.1930 J
Consol gold 56
1943
Ga & Ala Ey lateen 5801945 J-J
Ga Car & No 1st gu g 516 11129 J -J
Os
1st
Roe
Scab &
1926 J.J
liherSuIX&SU BCSMKSiT
Sit 8p 0014 do 1,1 See AU Coast L
Southern PaOille Co—
(4010 48(Cent Pao co1.1).k1949 .1-D
91929 M.
20-year cony' 4s
Cent Pao 1st ref gu g 4s11141) if-A
itegiatered
11141) F-A
Mort guar gold 3726..k11)20 J-1)
Through St L 1st gu 48'54 A-0
Oki&8AM&Plat6s 1931 M-N
Gila VG &N lstirug 65 1924 M-N
Roue E 86 W T let g 58 1933 M-N
1933 M-N
1st guar 5e red
g be int gu 1937 J -J
B. do ()
Coneol g Oa hut guar 1912 A-0
Gen gold 49 Int guar 1921 A-0
Waco& N Wdiv lst g 68'3i/
1941 M-}4&J -J
N W
gu g La
Morgan's La & T 1st 75 1918 A-0
1920 J.J
1st gold Os
19384-0
No of Cal guar g 6s
Ore & Cal 1st guar g bs 1927 j-J
1912 A-0
bo Paco( Cal-08 E
1912
1st gold tie F
1037 m N
1st con guar g Os
So Pao(Awn lot guts g 1937 J.J
San Frau Tenni let 49 1950 A-0
Tex&N()Sab.DivIst gtie 1012
1943 J -J
Con gold be
1955 J-J
So Pao RR 1st ref le
Range
Since
Januar?,
Week's
Range or
Last Salo
BONDS
N. Y. STOCK EXCHA NG E
W KEN ENDING AAA:108T 25
24,
517
Pries
Fririav
August 25
—
Week's
1
,....111 Range
Since
Range or 00
4'
14 j! Januar,'1
Last Sale '
litah So Lot, High
Ash bow
Bid
South—lsteong58-1094 Jj1611131114
1i7Ah°''
194
9372 £9
1.7
3 102
984
48Z i
. 871
1044 5910
f
981
/
4 10 9734 99
;1
Registered
110 -Tan '05
102 72
110 Mar09
1994 j.j 105
8074
Develop & gen 48 Ser A.1956 A.0 7514 7874 78
110% Jan '09
1061
/
4
79
751 76
'09
mob & Oluo call tr g 48..1938 m.6
109% Ply
88
80
10876
881
/
4 8014Ang'11 ....!1 St;
Mom Div 1st g 44-6s-1996 j..7 108:
96 Aug'00
901
/
4
109 Aug'11 ..., 1080,109 14
I3C Louie &iv 1st g 4s....1951 j.j 88,
90 Mny'08
8,
90,
%11a
6
SS., 6 i 8614 /39
8815
9072Apr'1 1
Ala Cen R 1st g 68
1918J4 107% 1101
901
/
4
/
4 10775 Nov'l 7' —.II.. ...... -.
98% Apr'04
AU & Deny 1st g 4e
1948 .7.j
864
i 9-67.2 11072
Ogle
901
/
4 '-'•fay'l 1 ....l
10456 Aug'I I
254s
1948 j.j 824 820, 8274 J'Iy'll ....I 821
104%
/
4 824
103 J'ne'll
AA1 & Yeti 1st g guar 48.19411 A.0 8058
1024
10376 Feb'll
Col Si Greenv DR Os
1024
1015 j.j lt)476
E 1' Va.% Ga Div g 6s-1
107 Oct'08
102
'1-Pure:Ill.
1(
1.0
1:
)7,
r_4 4 1
5
30
8 .7
.......1'ili0
74
14.
96
7‘'
,76 11%
-N
J
Con 1st gold Os
109 5lay'10
1114 11076 Aug'11 ....',109/
1
4 112
1071
/
4 1054 Aug'11
E Ten reor lieu g 5s
30
8M
A -m
g 1060, ... .. 10614 Aug'11 ....'105 1061
194
105%107N
/
4
105.
8 106
J'ly'll
Ga Midland 1st 35
196 10734
106 J'ne-11
105
Ga Pao Hy let g 68
13
54 JN
'
°
1;:t1)? .....j113 114
106 106
1922 j.j 1134 72 19
985 Dec'lli
9774
Knox & 01110 Lit. g tia. 11)25 j.j 114
115 4 May'll ....Th572116
921
/
4
91% Apr'I 1
Mob& 13irpriorlien g5s1945 j.j *106
0.
NO
ov:0
18
14..N
79,, 18
9134 93
97,
4 98% 0876 Alay'l 1
Mortgage gold 4/6
118¼ 99%
11/45 J -.1
1134
Itioli &-Dan con g 68. .191.1) j-J 1048.
113 1131
11314 J'Iy'il
10576Aug'11 ..4105 106%
/
4
Deb be stamped
105 Mar'll —1101% 105
1927 A.0 10478
Rich db Meek 1st g 4e...1948 hi-N
71 Mar'l 1 ....1 71
71
711/4
o8
109 Marl 1
& Os 1st g 5s....1919 m-ki 1034 105 104 .Aug'11 ....1,1OCar 336 10472
109 109
11
937., Jan'11
99
Virginia Mid ser 0 tis. .1910 m-8 *10638
934 931
/
4
112 Oct '07/
74% 70
Series 1)4-58
66
10414 P118'11 ....104'., 104'4
106
3::
N *1
7634
10
02
31
6 M-- s
67
671
/
4 68 Ply'11
Series F. be
63
106 Mar'll ....!:196 106
7034
1926M.5 *10534
180'., Apr'l 1
General 5d
1001
107% Aug'il ....,..107 108
/
410074
1101
/
4
109% J'ne-11
Va & klo'iy•t 1st gu 53.2003 j.j *108
100% 11034
i ....!;108 110
eo
,
ly :lil
1
,
08
14 iJ'
97
103 bitten
lat cons 50-year 68 1958 A.0 954 964 9676Aug'11 ....1 941
100 103
/
4 974
97 102
W 0& W 1st ey gu 45..1924 F-A
93 Aug'11
98 103%
00
90
8 cW
t, e
zrA
.NiaC 6
1e
set i
c
,
eit
ng
......
isi6e..1914 j-j 104,4 105 1040, Ply'11 ....yllll 4 1(15
111,
1
Sale
112%
9734 Sale
84
84
2 84
112%51777'11
5376 rly'97
88
1121
/
4 112%
1)74 98
98
97%
70 96% 984
974 Apr'll
9774 9734
97%
9738 1 1.18
974
86
884 J'ne'll
86,2 8834
/
4 1191
119 1151
/
4 1194 1 118 1191
/
4
10741081
/
4 10776 Ply'1 1
107 108
110
92
90 J'ly'11
90
91
8774 Sale 8774
471
/
4 z
- 4 8614 90
190% Mar'll
981
/
4
/
4
10034 1011
804, 0 80
80 Sah. do
83
1191
/
4 11676 1161
/
4 J'ly'11 .... lid 1171
/
4
";90, 13 77,6 81
7914 bale 7114
1001
/
4 Dee-011.
95.4 9936 91114 A.pr'll
974 994
0236 8 8975 92%
9214 8alb 924
93
8034 J'ly'11
83
78
7914 Sale 794
7934 2
75's 814
97%
101¼ Apr'07
8674 87'4 87
1174
91114
87
Oct'09
7 8630 884
87 la Sale 87
871
/
4 52
764 7634 791
/
4
77% 12
/
4 J'ly'11
894 861
85
9134 Apr'll
98
92
1014
103 Marl 1
101
103
105% Apr'11
/
4 51ar'11 ..„
1041
3
105
104% 10574 105
10506 110 109
8434 88
82
75
8534 87
9134 91%
102 108
10534 106%
10474 10474
1114 105
109 109
914 913 914
914
914 93%
06 Salt, 96
061
/
4 238 913 100
9634 117¼ 97
97
17 116
974
97
97 Feb'101
1104 9134 91 Aug'11'....
02
91
9276•Pue'111,_ 92
931
/
4
10741054 107 Apr'11.. 1064 1084
103 510-'1
103 103
105 J'ne'111. 105 105,
1044
4
1044Au1'11,..,_ 1044 105
101:
11)974
101186 ichige 1 10114 110%
110 1094 Mar'l
10914109¼
4)434 Aug'11
9'31
/
4 9572
116
1111'., Mai.'10
107 tu Jail'09
113
11541154
115761dar'1l
110
111
111 In
112 ifeh'071
102410334 102 J'Iy'll
102 102
10076
1014Ilay'll
10141021
/
4
1001
/
4
1144 Deo'04
109 112% 110 May'07
924 90 J"09
131)
904 91 76.a.ug 11 .... 914 934
10034 1014 10176 May'll
101%101%
1010,May'11
101% 103
944 Sale 944
944 81 944 96
.
Spokane Internat let g 5s 1955 j-j
,rer A of bt4
,
2s..1931) A.0
1.18t con gold 616....1894.11144 F.A
Gen retina's t gss
1953 J.J
Sib M 13ge Ter gu g 68 1930 A-0
Tez cro .N 0 See So Pao Co
Te2xdloilPlalnieetbeigold Os
2000 J.D
g2000 Mar
La Div 11 L let g 53
1931 J • J
W Min Wdb N Wletgu 08'31) F-A
Tol & 00 Ist g be
1935 j.j
Western Div let g 516 1
j
,
:
1,7 7
5A
jjo
General gold 58
Kan & 11 1st gu g 46
11= p,.
2d 20-year Os
Tol P & W 1st gold 4s
1917 J.J
TolSt1.86 W'when g 342.11/25 j-J
50-year gold 4s
1950 A-0
Coll tr 4s g Ser A
1917 F-A
Tor lia.meb Butt lists 48.41940 .7•D
Ulster& Del laccon g 6s 1928 J -D
1st retinal g 4s
11152 A-13
Un Pao RR do 1 gr g 45 _1947 j.j
Registered1947 j-j
20-yr cony' 48
1927 J-J
1st & ref 48
g2008 M-5
Ore Ey & Nay con g 4e.1949 .1-D
Ore Short Lino 1st g tis. 192-2 F-A
1st 4:klisol g 58
1946 J-.1
U uar refund 4s
1929 j-D
Registered
1929 J.D
Utah & Nor gold 58 1926 J.J
Uni N J UR le C Co See Pa RR
Utah Central See Rio Cr Was
Utah db North See Un Pacific,
Utica & Black It Sea ..N Y Vent
V andalia consul g 48 ... 1955 F-A
1 Cousol 48 Series B...1957 M-N
Vora Cruz &P 181 gu 448_1934 J -J
Ver Val Ind db W See .510 P
Virginia Mid See South Ay
abash 1st gold Os
1939 M.N1
20 gold 58
1939 F-A
Debenture seriesh
1939 J •J
1st hen equip a fd g 516 1921 M-18
1st lien oa yr g term 4s 11354 J -J
1:6C ref anti ext g 4s
19512 Det & Ch Ext 1st g 68 1941 J.J
Dee Motu Div 1st g 4s 1939 J -J
Oru Div lec g 34s
1941 A-0
Tot & Oh Div 1 et g 4s 1941 M-8
Web Pala Term 1st g 48 1954 .1 -I)
Cent & Old col Tr Co certte. ....
Columbia Tr Co ctfs '
20 gold 48
1954 .1.1)
Trust Co certie
Warren Nee Del Lao do West
Wash Cent See Nor Pee
Wash 0 416 W See Southern
Wash Terml let gu 3728..1945 F-A
West Maryland 1st g48...1952 A-0
West N 1& Pa let g581937 J -J
tleu 8041 48
1943 A-0
Income 5s
41943 Nov
West No Car See South By
Wheel g &LE 1st g Os...1920 A-0
Wheel Div let gold 5e..1928 J -J
Exton Si Imp gold 5e. .1930 F-A
RR 1st consul 416........1049 li-S
20-year equip 5 r 6s..1922 J -J
Wilkes Be East see Brie
Wil & Sioux lf Bee St2.I1 dt, JI
Wis Cent 60-yr 1st gen 4.8 1949 S.J
Sup& Duldiv& term let,44'36 M-N
Telegraph and Telephone
Am Telep 4 Tel coil tr 48:
1
1192
339
,7sm
:..8
J
Conyertible 48.
Commer'l Cable 1st g 4e —1397,ta-.1
Mich State Telep let edi —11124!f-A
N Y Tele]) 1st& gene I 4,
28239 14-N
Pao Tel& Tel 1st fis
West Union col tr car 65 19
1/3
36
8 J J
Fd and real eat g 44s 1950791-N
Cony 4s, Series A
1-N
lilt Uri U.`el ga ext 55 11)411191-N
131 104 1024 Apr 11 —.1'102 1020,
105 106,
6 111534 J'Ly'11 ....: 1051
/
4 1050,
112
112 Aug'11 ....111034 1120,
951
/
4 961
/
4 9534 Augll ....,, 950 95
1084 n ou'.I 1 ....; 1081
11/734
/
4 1US t2
II
110 Sale 110
1100, 26110 1110,
9
70
0
45
9,2A
1,, 65
i ,0,2 09,2
Mp
ar
.la ...
:
,
10614 Nov'IM •
1W)
109
109
1110834 1104
,7(6
)4
:19,
7 092
9 19,
0
19
182
2 S
Aeul1g:0
19
1 .. I
1034 103% 1034 Pne'll
10141034
9014
0
9
,
18
2
9
1,%
Aug 11
95
91 Aug'11
90
9272
90
Aug'11
874
.... 8772 b91
881
/
4
/
4
654 68 Aug'11
754 7334 754 41,41511
74
14
71
9
75
94 8
904 911/4
y:1
11 ........ 18
j:I
lY
106
2J
1(8
)5%
07
54 10
9r4
/
4 J'Iy'11 .... 854 831
851
/
4
84's
1004 10074 1003
, 11)10, 64 100 10274
9941 99' Aug'11 .... 9974 1001
/
4
10236 Sale 110286 iv4 832,.102361104
96341 1.S• 964 9874
9674 964 964
904 95 Aug't 1 ....I 95
9714
1134 1134 Aug'111....! 1131
/
4 1154
110 11134 1124 J'Iy'll _41111
/
41134
93
934 93,
4
930,' 85 0234 95
1064 109
914
hi4:(1
10
94
8 ja
)1
11 .... 108
108
97
98 Nov'08
974 9716Ma7'1I
9634 971
/
4
1(0 J'ne'll ........\ 90
90
10776 108 108 Aug'11 ..„ 103 110
99 sada 99
994 13 984101
105
98 Apr'll
98
98
104 Alay'll
100
100 104
83 Dee'10
85
614 Sale 614
U3¼206 61
71%
1074 1084 10734 May'11
10734 1084
81 76 MaY'l .... 81
77
814
J'ly
'11
75
75
67
7072 7534
8334 83 May'11 1.... 85
77
85
4372 4412 484 J'ne'lli.... 41,
4 4934
beet
44
44
45 326 891
/
4 50
4376 4472 433.,
/0
40
2 Sale
2
10
2
'A
74
2 bale
20,118 2
2
8
8786 90
884 Mar'll
884 90
8676 Sale 8634
87
14 86
88%
1091
/
4 10d34 109% Pue'll
10014110'.
863s ritre 880, 880, 1 881
/
4 88%
Feb'll71
34
10374 1044 1044 10441 1
1024104 104 Mani
98 103 102 J'ne'lu
843 84 12 Aug'11,....
84
954
924 Sale , 924
92
924 92
93
92
10334 106
10314104'.,
81)
32
984 99,2
12 924 93%
93
1 92
Nis 9041 904
904 87 5932 924
1044 8ale ,10414 106 107 1044 1134
83
834 834
' 8372 May'll
100 1004 100
100
15 9$ 101
IOU Sale 100
1004 48 ova 100.
9914
41 1)7
99
9374
987e
/
41034
100 101 1014 101% 9 991
98
984
904 th1
9334 Aug'11
10441040,1044 104's 21 103 lot%
102 10334 104 J'ne'll'.... 104 104
6111SUELLANKOUIS BONDS--43onclude0.
Ilanulacturing A; Industrial
Ouban-Amer Sugar colltr 68'18 A.0
Distil bee Cor eonv let g be.'27 A.-0
/
46..1936 -12
E I du Pout Powder 41
Urea ltleCtrIO tleb g 348..11/42 F-a
1917 5.1)
1.0-yr g 009 58
Gen'l Motors let lien 6s 1915 A-0
ml Paper Co 1st con g 06 11118 F-A
1935 J.J
Consol cony f g Os
1921) 41.8
Int St Pump 1st sl 5s
Lackaw Steel 1st g 55.-19'23 A.0
let con 65 Series A,....196b M-13
5-Tear convertible rs..1915 M-8
Nat Ent= Be kitpg 151 55..1929 J -D
N I Air Brake 1st couv13s'29 (A-N
By Steel Spgs 1st e 16s...1021 J-J
Repub I & S'lst& coltr 65.1934 a..0
194U A-0
10-30 year be f
Us Leath Co e Web g6e 1913 M.N
Manalacturing dit Industrial
9512 97
U 13 Realtyla oenrilebgbe'24 4-..; $94 90
89
89
1 89
96 Aug'11
91
1.1 8 Rubber 10-yr con tr 93218 J.D 10414 Sale 104
744
1044 10 103 105
7574 —.
1i 744 80
8 Steel Corpleoup .d1.963 M-N 1040, Sale 104,2 104,
/
4
827
U
6 891
854 Aug'11
4 107 10834 1064
8f 10-60 yr 63. reg ..alni33 li-N
lu4.12 1047
82
1 103% 1061
162 Pne'l 1 ....... 81
/
4
Va-Car Chem let 6-yr Os 1923 J.D 9934 100
9972
160 161 J'ly'11 .... 145 167
99% 11 98% 1024
138
981
6 1804 10276
/
4 98 Is Aug'i 1 ..... 984 9914 Wsst Elegant) 1st is Deo 1922 J.J 102 Salo 10112 102
103 Sale 103
934 Sale 934
4 101 104 76 Westinghowie E & 51.e r 63 '31 J.J
103
9334 16 910, 954
54
83
Miscellaneous
1,4
87
84
1 83
DAS M-8
Adams Ex col tr g 43
94
9334
910, 95
91
9334
1 84
2
84
84
854
98
924 921
/
4 9274
921
0814 9814
/
4 23 9214 934
981
/
4 '24 9615 1)9', Armour abCo lstrealest4721e89 5•D
80
614 80
1951 A-0 9214 Salt
984
81
10 80
02% '1 96
9914
8814 hush Terminal 1st 4.11
93 sal,. 113
1955 J4 97
Coassl Os
06
98
98% Aug'11 .... 97 1001
931
/
4 23 90
/
4
944 944
94
941
/
4 6 9414 954 Int Morean Marino 4145 1921. 4.0 644 Sate 644
46
9034
19 64
100 101 1004 1014 4 10072 105
jut Navigation let is I 65 1929 F-A
1124
811
/
4 5 71
811
/
4 814
91)
Morris & Co 1st•t 4 7-24-1939 J•J
01
9034 Ply'11 .... 8034 92
984 J'ly'1 1 ..... 9774 99
10274
90
10276 Aug'11 ... 1020,103', NY Dock 60-yr 1st g 4s..1351 ir-A
821
/
4 81372 84 J'ne'll84
94
931
/
4 94
04 - 10 04
Pub Sory Corp NJ gsa 65.1959 A-0 934 Salt 934
00
934 6 93% 964
1021
/
4 103 1024 Aug'11 •••• 102 105
Wash Water Pow 1st 66..1939 J-J 101
10212 Mani •••• i0211 102¼
— *No price Friday; latest bid and asked this ii-eek. b Due Feb 4 Due Apr *Due May g Due J'ne h Due J'17 /clam Aug °Due Oct 8Due Nov sOutlea 8ale
96
97
744 Sale
834
CHICAGO STOCK EXCHANGE-Stock Record-Daily, Weekly and Yearly
STOCKS-HIOHEST AND LOWEST SALE PRICES.
Saturday
'August 19
Monday
August 21
Tuesday
August 22
Wednesday
August 23
Thursday
August 24
Friday
August 25
Sales
of the
Week
Shares
STOCKS
CHICAGO STOCK
EXCHANGE
Ranqe since January 1
On basis of 100-share lots
Highest,
Lowest.
Railroads
100 185 Jan 11
Apr'll -.... Chicago City By
Last Sale 100
112.1nel6
Last Sale 112 July'll -- Chicago & Oak Park..100
3 J'ne :6
100
pref
Do
June'll ---3
L
21 J'iy 12
---------- --------250 Chic Elev Rys com
85 J'iy 19
--------- --------60 Do pre
Aug'11 __-_ Chic Rys part ctf "1"..- 80 Apr 29
-Last Sale 95
2034 May13
2714 1,340 Chic Rys part ctf "2"
27
2714 28
8 May13
55 Chic Rys part ctf "3" _
10
10
12
*10
412 lich 1
"4"i.(56
ctf
50
part.
Chic
Rys
712
712 *0
*0
2513 Aug 16
895 Chicago Subway
234 234 ---- -_
Aug 10
16
100
Lt
&
fly
--Aug'11
City
Hans
16
Sale
Last
100 40 J'ne 13
Do pref
()0
*4012 __ *4012 ____
100 1912 Feb 1
June'll -_-_ Metropol W S Elev
Last Sale 27
100 65 Feb 1
Do pref
Last Sale 7412 June'll ----- -_
100 2012 Apr 27
Last Sale 2914 June'll ___ Northwestern Elev
--100 60 Jan 11
Lost
sale
6812
Do
pref
___June'll
-----Last Sale 7912 July'll -_- South Side Elevated_100 68 Jan
_
_
812 J'ne 1
165 Streets W Stable C L..100
012
912 *9
2 *9
91--I-O-3 -.
10
912
2
912 --91100 40 J'ne 1
Do pref
Aug'11 __-_
Sale 50
Last
50
*45
50
*45
50
*45
50
*47
Miscellaneous
0 Jan 16
100
934 1,050 American Can
953
958 934
10
10
10
1013 1018 10
9713 10
100 7678 Jan 7
884
Do pref
8414 8278 8314
8414 8413 83
84
8312 8478 84
84
84
Jan 9
265
100
Feb'll
Radiator
265
Sale
American
....
Last
P270 280 *270 280 *270 280 v270 280
100 12613 arch 9
Do pref
Last Sale 131 July'll --0129 133 *129 133 *129 133 v129 133
5412 Aug 12
_100
_
20
Shipbuilding_
Amer
58
*55
56
*55
56
56
5412 5412
*5412 55
55
*54
100 11014 Jan 6
Do prof
Last Sale 111 July'll -___
110012 108 410712 110 *107 110 v105 110
13212 Aug 25
100 Amer Telep dr Teleg
13314 13314 13212 13234
313334 13412 *134 13112 *13312 134 o13313 134
35 Apr 28
com
Booth
-..
Fisheries
Sale
41
Aug'11
Last
44
*41
43
*41
43
*40 ____ *41
38 J'ne 14
Voting trust ctf
Last Sale 4312 July'll ____
82 Xis.20
Do pref
315
--_
66
0512
8
6
*83
"61"
;68"
;a" 68
4912 Ann 24
D..100
&
de
____
Cal
Chic
Canal
Sale
Last
5112
53
July'll
*51
53
*51
*51
53
*51
53
1 J'ly 20
Last Sale 1
July'll ---- Chic Brew'g & Malt'g
114
114 *1
*1
114 *1
114 *1
313 ale1127
Do pref
Last Sale 534 July'll -___
512
*5
512
512 *5
*5
41
Jan 3
Tool_100
Chic
60
Pneumatic
48
*4713
4784
4714
4714
*4712
4712 4712 *4712 48
48
48
110 Chicago Telephone-100 115 Jan 25
120
120
123 123 *122 123 v12113 123 *12112 123
4121 123
Jan 6
15112
&
48
Title
Chic
Trust_100
161
161
105
v101
-_
164
4155
3155 164 4155 164
445 Commonw'th-Edison_100 113 Jan 19
13212
13213 13212 132
13378 13378 133 13312 13234 133
134 134
1238 Aug 14
75 Corn Prod Ref Co corn
1258 1234
1234 1234
78 Jan 18
do
Do
pref.Jan'll --Last Sale78
100 9212 Feb 10
Diamond Match
2 v104 105 10434 10434 10114 10414 410
11;4- iOi" 1641
10414 1-641;
340 Hart Slimmer & Marx pe. 101 Aug25
101
10134
102 102
10134 102
102 102
310214 10234
100 5012 Aug 17
5112 '605 Illinois Brick
*5112 5212 5212 5212 5218 5212 51
5112 5134 "Li" 62
47 Jan 18
Aug'11 ---- Masonic Temple
Last Sale 50
--- -___
Aug'11 -___ MeCrum-Howell Co. 100 45 /deb 3
Last Sale 47
49
*47 "41" ;:ii" 16" *47
*47
50
Mob 3
92
80
Do
pref
93
93
94
*02
94
*92
9312
92
98
*93
97
*93
100 11714 Jan 17
25 National Biscuit
13114 13114
4131 133 *133 135 v132 135 *132 135
100 123 Jan 3
Do pref
Last Sale 12813 Aug'11 --*12814 128 *120 128 0126 12812
*H&j's
100 100 Aug 18
209 National Carbon
100
100
101
100 101
loo 100 101 101 *101 103 101
100 118 Jan 18
25
Do pref
118
11078 11678 *118 118 *116
*11012 119 *118 119 *115 118
755 People's Gas L&Coke_100 10134 Aug 25
10318 10312 103 10334 10312 10334 10312 10334 10314 10334 10134 103
13812
100 e13612 Ma,26
760
corn.,.
Sears-Roebuck
138
139
139
13812
13914
139
13834
13934 14038 13913 14012
100 11812 Aug 18
Do pref
259
11914 11912 o11812 120 *11812 120 *11812 120
11812 11812 *11812 120
100 10013 Mch 13
982
Co
102
&
Swift
10158
102
10134
102
10178
102
10178
102
10134
102
10118
100 165 Mch 7
Co
Oats
181
The
Quaker
100
190
191
190
190 *190
*186 190 41813 190 *180 190
100 10212 Feb 1
Do pre
80
10634
106
106 106 *106 107
106 106 *106 107
*106 107
211 Aug10
710 Unit Box rid & P Co_100
212
212
212 212
212 212
238 28 *212 234 *258 234
6934 Aug 25
Steel coin_
7313 7334 7134 7258 7114 7234 7218 7278 7012 7112 69.34 7058 2.175 United States
100 1912 Apr 12
July'll ---- Western Stone
Last Sale 20
21
*19
*19
21
21
*19
21
el9
PR
Note.-O( Petal Sheet II 0 loner rep trta trftn agn tIrma nt 16,111.1 Ph.,,, 111 Rhar
*180 190 *180 190 *180
*2
3
*2
3
--3-- *2
*5
7
*5
7
*5
7
*5
*24
25
25
25
25
*88
90
90
88
88
- *92 96 *90
*94 100 ;66" 16
2912 2912 29
30
2912 2934 *29
12 *10
12 *10
1012 1012 *10
712 *6
712 *0
812 613 *6
234
234 234
234 273
273 273
*10
*15
*1512 19
19
19
*15
4012 4012 4012 4012 41
*40
45
100
3
7
20
91
96
29
12
712
273
19
41
--912
-6514 66
Interest
Period
Pries
Friday
Aug. 25
Week's
Range or
Last Sale
Lowest,
Highest.
190 Apr 28 160 Oct 1317 Men
312 Jan
112 J'ne 16
112 J'ly
'Iy
6 Me 13 23
4
712 Jan
2934 .I'ly 21
93 J'iy 21
101 Aug 2 -8538 §17)11C Jan
1114 Sep
3434 Aug 2
8 May
10 Jan
1212 Aug 3
3 May
018 Jan
712 Aug 3
213 J'ne
6 Mies 1
614 Aug
20 Aug
39 Jan
25 Feb 23
69 Feb
7734 Mei'
7212 Feb 25
25 .1 no
10 Jan
27 J'ne30
72 J'ne
51 Feb
7412 J'ne 30
23 J
15 Apr
2912 J'ne 30
53 May 66 5117
6) J11e24
7213 J ne
,514 J'iY
80 J'ne 30
543s Jan
J'iy
1314 Feb
Jan
104
J'ly
40
50 Jan 1)
1212 May 9
8878 J ne 2
265 Jan 9
131 J'ly 29
79 Feb 6
113 May18
15214 Inc 12
5914 Mch 4
573.1 M e h 9
82 Mch 21
52 Feb 2
114 Jilt) 7
534 J'ne
5512 Fob 23
12412 J'ne21
170 .13ne 9
13738 J'ly 15
1538 J'ne 15
78 Jan 18
10512 J'ly 10
10338 J no 2
70 Jan 20
5018 Aug 2
67 Jan 3
98 Feb 2
140 Apr 7
130 lich31
120 Mch14
120 Mch23
10858 Jan 19
19234 Jan 31
122 Mch 11
104 J ne 5
193 J'ne29
10712 J'iy 21
7 Jan 3
8173 Feb 6
25 Jan 27
1357, Jan
653 J'ne
r2 Jan
6212 XIV'
240 Apr 261 Dec
120 J'iy 13.5 Apr
8418 May
72 Feb
107 Aug 112 Jan
13114 J'ly 14218 arch
43 Dec
31 J'ne
41 Dec
20 Aug
74 Jan
60 .1'ne
/5 Feb
46 Dec
1 Feb
1 Feb
3 Sep
3 Sep
47 Dec
2512 J'ly
110 May 137 Jan
142 Aug 163 Mch
1081 .1'I y 11112Jan
2234 Jan
1312 J'ly
82 Feb
'7914 Apr
8212 Sep 127 Jan
Ty- ..01..Mch
53
46 Jan
4313 Itch
40 Mch
6713 Dee
93 J'as 10234 Apr
101 Aug 119 Dec
118 J'ly 125 Jan
104 Feb 145 Oct
112 Feb 123 Nov
103 J'ly 11534 Jan
148 Feb 18634 Nov
11013 Aug 122 Mch
100 Dec 1095s Jan
155 J'ly 186 Feb
101 J'ly 106 Jan
1538Jan
514 Apr
15 J'ne
2633Deo
•14116
Chicago Banks and Trust Companies
Chicago Bond Record.
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Aug. 25.
Range For Precious
Year 1910.
is'di
Sold
Range
for
Year 1911
NAME
Outstanding
Stock
(9)
Surplus
and
Profits
(9)
Dividend Record
In
1909
In Per-i Last Paid,
1910 iod.,
An Jan '11.
6
$49,300
5100,000
Calumet National
J-J July '11,5
10
271,322 10
500,000
Chicago City
Q-J
July '11, 213
10,285,337
y20000000
Nat_
Contl'tal & Comm
16
12
Q-J July '11, 4
Corn Exchange National 3,000,000 5,000,273 Beg.
b us May 31'1 1.V.92,p1538
31
200,000
Douglas State
8
Q-J July '11, 112
9
41,108
200,000
Drexel State..
10
Q-J July '11, 212
443,233 10
600,000
Drovers' Dep National.
6
Q-J July '11, 134
51,046
200,000
EnglewoodState
mile 30'11,3u
Q-M
12s
121
11,276,436
10,000,000
First National
10 Q-11.1 Jae 30'11,212
191,247 10
150,000
First Nat Englewood563,476 Priv ate Ba tik
Foreman Bros D'k'g Co_ 1,000,01)0
Q-J July '11,2
8
616,188
Fort Dearborn National 2,000,00()
8
8+2 Q-J July '11,2
1,500,000 1,053,878
Hibernian B'k'g Ass'n
193,557 10 10+15 J-J July '11, 5
200,000
Kaspar State Bank___.
3,156 Beg. b us Apr 8'11 V.92,p.1004.
200,000
Lake View State
257,031 Beg. b us. Ma y'10 V.90, p.1277
1,000,000
La Salle St National
10 Q-M Jae 30'11,212
546,108
10
1,250,000
Nat
Exch'ge
Live Stock
Aug '11, 1
66,841
4
4
300,000
Monroe National
8
8
Q-J Jue30'11. 2
Nat Bank of Republic.. 2,000,000 1,313,977
'11, 112
July
494,341
6
2,000,000
Q-J
NationalCity
4
90,390
Q-J July '11, 112
3
250,001)
National Produce
74,633
633 Q-J July '11, 134
533
200,000
North Avenue State
34,290
6
50,000
Q-J July '11, 112
North Side State Sav'gs
30,403
4
200,000
Q-J July '11, 114
North West State
115,137 -300,000
Q-J July '11, 212
People's Stk Yds State.
62,711
500,000
0 Q-M July '11, 112
6
PrairieState
221,092
300,000
133 • 433 Q-J July '11, 112
Security
94,500
200,000
733 Q-J July '11, 2
6
South Chicago Savings.
12,782
200,000
6
133
Q-J July '11, 113
SouthSide State
Q-J July '11,3
12
State Bank of Chicago. 1,500,000 1,965,670 12
Jne 30'11, 2
(4.11
8
196,488
250,000
8
Savings
StockYards
May '11,3
11-N
6
49,854
v200,000
6
Union Bank of Chicago_
100,000
8,494 See V. 00. p. 159
Washington Park Nat'l
Dec31'08,112
Q-31
None
50,0(e)
13,275
None
State
Wendell
733 Q-J July '11,2
2,000,000
7
977,674
Central 'Trust Co of Ill
6 (1-3 July '11, 113
1,000,000
6
224,478
Chicago Say Bk dc Tr
734 Q-J July '11, 2
Chicago Title & Trust_ 5,000,000 11,810,642
Q-.1 July '11, 213
0
4
50,000
12,104
Citizens Trust & Savings
600,000
475,687 8+2 8+2 Q-J July '11, 212
Colonial Trust dc Saving
3,000,000
734,546
Coat Fc Comm Tr & Say
July '11,2
8
8
200,000
140,926
Drovers"Trust&Savings
1-14 J ly '11, 112
3
1,500,000
239,419
Farwell Trust Co
Jne 30 '11,4
Q-M
•
12
16
2,500,000
3,648,690
First Trust & Savings_
250,000
3,057 Beg. b usdapr 3' 11 V.92, p. 929
Ft.Dearborn Tr&Say Ilk
orated 1008 V.87,p.1138
Incorp
20(1,000
29,470
Say.
&
Trust
Guarantee
033 11+5 Q-J July '11,3
HarrisTrust & Savings_ r 1,250,000 1,918,434
52,427 Beg. b us Apr 10 31 1V.92.p.1004
300,000
Horne Bank de Trust
July'
16+4
11, 4
16+4
8,850,823
5,000,000
&
Savings
Trust
Illinois
634 7+1U 31-1 July '11, 134
62,030
200,000
Kenwoocl Trust & Sans
533 Q-J J.ily '11, 113
5
49,630
200,000
Lake View Trust&Saygs
Q-J July '11, 4
12
Merchants' Loan&Tr Co 3,000,000 8,273,210 12
Q-J Jne30'11,112
0
248,857
750,000
MetropoiltanTrust &Say
200,000
60,057 Beg. b us. Oct 29'1 OV91,p.1221
Michigan Ave Tr Co__
Ap
r10
us,
11V92 p1004
b
Corn.
58,372
500,000
Bk.
Mid-City Tr & Say
8
Q-J Jne30'11, 2
8
Northern Trust Co____ 1,500,000 2,507,084
6
J-J July '11.4
77,298
North-Western Tr &Sav z200,000
V.92,p.1537.
5,657 Beg. b us J'ne
Old colony Tr & Say Bank 200,000
137,535 Beg. b us.Dee 1,10 V. 02, p. 90
500,000
People's Tr .Ss Say Bk
8
8
Q-J Ju1se30'11. 2
250,672
300,000
Pullman Trust lo Savgs25,979 Beg. b us. J'ly 12'O 9 V.89,p.141
200,000
Sheridan Tr & Say Bank
284,858 Consul enced bus. Sept 6 1910
Standard Tr .1.5 Savings. 1,000,000
6
533 J-J July '11,3
43,482
200,000
dc
Say
Trust
Stockmen's
1,200.000 1,229,389 18+2 18+2 Q-1,1 ins 30'11,21
Union Trust Co
6
203,658
Q-J July '11, 112
West' Trust & Savings 1,250,000
112,071
Q-M July '11, 2
200,000
West Side Tr&SavBank
Nots..-Accrued interest must be added to all Chicago b ond prices
6
69,161
733 Q-J July '11, 212
200,000
Woodlawn Tr3cSavBan.:
banks and Jt no 8 (opening of business) tot State nstitutIons. ;No
* Bld and asked prices; no sales were made on ties day. 9 June 7 (c ose of business) for national
1-3%, k Also 20% in stock. q Dividends are paid Q-J, with extra payprice Friday; latest price this week. a Due Dee. 31. 5 Due June. .c Ex-stock dividend of 33
sIn addition, the equivalent. of 4% more came from First Trust & Saving Bank, :June 30
bents Q-F. r Capital to be increased to $1,500,000. V. 92, P. 1611.
Trust dr Savings Bank. v capital inereaseil io $300,000 V. 93. p. 142. to March 311911, s Proposal
1911. u In addition, the equivalent of 1% came from FirstCapital
be
to
y
Increased to $21,500.000 to acquire Control of Llibernlit Banking Assoc. V. 93, D. 17, 323.
to increase capital to $250,000 ratified. V. 92, p. 1352.
Also paid an extra dividend 01 2% in July 1911,
High
High No. Low
Ask Low
MI
10013 10013
10013 Jan'll
Liner Strawb'd 1st 63-1911 • - A ---9213
1 9233 9333
9212
9212 Sale
Armour as Co 4 335-1939 J
0018 100
NIcif 11
100
J
Booth Fish Co Deb° 63'17 J
90 100
MO'11
100
J
1924 J
Deb g 5s
9818 99
9812 Apr'll
Sink Fd 1E/ebbs tr roe -- A - 0
Calumet .1,3 South Chicago
9914 9914
1927 F .A I 9373 9914 0911 July'l 1
fly 1st 85
10114 Oet'09
Oass A v & Cv (St L) 5312 J - J
100 May'07
I)
Ohio Board of Trade 451027 J
102r8 1117;
10278 Aug'11
- A :1524 10-31927
Chicago City Ity eis
Apr'04
103
J
Chic Consoi Br & Mit 69___ J
AprO9
50
Chic Consoi Trao 4 is 1930 1 - D
9834 Jan'06
- A
---- 9838 Aug'11
Ohio Auditorium 'v3551929
9814 998
Chicago Elev fly lis_1914 J -J ---9412
Dee'09
Ohio Jo kilt 1st Ii g 34_1043 A - 5
Feb'ial
87
Ohio No Shore Elea 63.1012 A - 0
8714 -61
89 A ug'l 1
90
89
J
Ohio Poe Toot 1st 5s-a1021 J
9034 55 9738 100
9912
9912 Sale
1927 • -A
Chic By 5s
9318 9514
Ohio Rye 4-53 series "A" A. t_.__ 9514 9478 Aug'11 28 8213 8912
8834
8814
Chic itys 4-5s series "B" J - 1) 1 8812 dale
90
90
90 JulY'll
Chic Etys 4-5s series "0" -A
9958 10078
Chic HYS coil Os-1913 10 - A /155; 16034 10034 Aug'11
100
100
11
Jan'
100
10012
t____
A
Chic Fly's Fund 6s....1913
9912 10 9734 100
9 0012 sale 9912
Chic Itys Tens Ctts 1st 55
Ohio It I do P ItR 4s....2002 A. N ---- -- 6.312 Atig'08
July'08
6612
Collat trust g 55.-1913
ioi- fax
10318 Aug'11
1923
-1) 910318
Ohio Telephone 55
910278 103 10273 10278 2 10012 10318
Com mon w- Edison 5.1- 1943 11 Noy'10
10078
- J
Chic Edison deb 6s..1913
155 166
815'11
100
let n 53___July 1926 A - 0
100/8 Aug'09 _1920
Debenture 5s
2
100 14 ffifs
10278
10258
-53
10214 1-62
Commonw Elect 5s01943 Pt.
1 10314 10734
10534
10334 Sale 10534
Dia Match Con db 8s_ 1920 ....
Dee'08
10
3.13
1028
5s
Tunnel
Illinois
Kan City lip' Ss Light
9633 9734
_
N
9734 May'll
1913
Co Si
9734 100
may'll
luo
Knick'b'ker Ice 1st 5s 1923 A- 0
8913
77
8913 July'll
80
Lake St El-1s1 5s_1928 1 . J
16 May'05
1923 Feb
Income 53
Iletr W Side M8218 8634
- A t 31313 8634 8812 Aug'11
1938
ist 45
7818 82,8
8212 Aug'11
- J 9 8212 83
1938
Extension g 4s
8934 9134
8934
Sale
8934
8434
9
J
1930
Morn ; & Co. e 4
9618 100
100 July'll
North West El 1st 43_1911• S 9___ 100
Northwestern Gas Light &
9912 100
-Aug'11
9934
1928 Q .51
Coke Co 6s
5 92
9414
9312 Sale
-N
9313
9312
1943
Ogden .,,as Is
Mea'09
10038
9812
-I
-I)
1913
5.3
Pearsons-Taft
Meh'10
9612
-05
4.405
Feb'10
- N 06 -- 97
4.605 Series E
9812 hich'10
11 N
9713
4.808 Series
12134 Iviay'09
Pe* Gas L & C 1st 641_1943 A - 0
9 10134 10234
10258
10214 Sale 10214
Refunding g 5s____1947 It10273 10312
10313 Aug'11
- J
Chic Gas 1...300 1st 551937
10112 102
102
July'll
Conaum Gas 1st 55_036 1 - D
10113 10158
10113 July'll
?duel Fuel (las lst5e1947 .11 - N
17
93 9534
95
95'
Sale
I
J
J
995
South Side Eley 43;35_1924
5 100 10178
10033
J 10038 Sale 10038
Swift & Co 1st g 55_1914 J
Apr'10
83
Union El (Loop) 55_1943 A - 0
Apr'10
70
United Box Board col 63'23
"a" "66"
Melell
60
J
J
General mtge Os
10034 103
10233 Aug'11
-J --Western Elea Co 55_1922
9:::: aft;
AUG. 26 1911.]
Volume of Business at Stock Exchanges
TRANSACTION'S AT TUE NEW YORK STOCK EXCHANGE
DAILY WEEKLY AND YEARLY.
Railroad.
tte..
Bonds.
Stocks.
Week ending
August 25 1911.
Shares
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
Par value.
$19,275,700
49,572,500
53,035,400
25,516,450
61,467,400
63,948,350
210,207
546,956
581,554
272,877
677,424
702,190
2,991,208 $272,865,800
Total
Male
Bonds.
$941,000
1,517,500
1,159,000
1,094,000
3,005,000
1,481,000
$33,000
89,500
30,000
40,000
230,000
106,500
89,197,500
619,000
U. S.
Bonds.
$20,000
1,000
10,500
18,000
8,000
$57,500
Jan. 1 to August 25.
Week ending August 25.
Sales at
New York Stock
Exchange
1910.
1911.
1915).
1
1911.
---121,594,112
72,852,206
2 219,780
2 091 203
Stocks-No. shares--_
$272,865,800 $102,919,500 $6,522,990,700 $10,930,585,000
Par value
$810,000
$10,400
$1,348,000
$7,500
Bank shares, par
Bonds.
$6,000
$2,553,500
$303,700
$57,500
Government bonds430,000
79,249,000
32,958,450
619,000
State bonds
5,482,000
400,769,000
9,197,500
487,097,500
RR.and misc. bonds
59,874,0001 $5,918,000
5569,500,0001 $434,031,150
Total bonds
DAILY TRANSACTIONS Al' THE BOSTON AND PHILADELPHIA
EXCHANGES.
Boston.
Week ending
August 25 1911.
Total
Philadelphia.
Listed Unlisted
sluires, shares.
Bond
sales.
12,841i
27,173;
20,323,
24,0891
35,3021
35,332;
Bond
Unlisted
Listed
sales.
shares.
shares.
5,813
540,000
3,750
5,119
12,233
118,500
7,902
9,212
9,225
30,500
6,658
6204,
20,078
34,500
4,110
5,685
25,974
25,500
11,657
10,055
17,328
48,000
7,183
12,360
$22,100
50,168
64,417
34,500
13,200
23,502
00,651
$197,947
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
155,080
5303,000
41,272
49,23'
Outside Securities
All bond Daces are now "a id interest'. excelit where marked '1."
Bid
Street Railways
Ash:
New Furl CRY
16
21
Bleeek St & CCLII Fy stk_100
70
1-J (10
lit mtge is MO
By & 7th Ave elk
100 120 140
J-J 09 101
2d mtge Si 1914
Con 51 10,, -See Stock Exc list
13•way Surface 1st 55 gu 1921 10112 103
H)
Cont'l Croastovrn stock_ _100
0 - 85
let mtge Os 1922____M-N -8-20
Can Pk N & E Ills stock_100 10
Christophl 10th St stk 100 95 120
Col & 91it Ave 5s-See Stock Exc 1st
Dry Dock E B & BJ-D 98 (011,
. 1st gold 15.1 1932
ft-A /30
40
Scrip Si 11)11
100 276 310
Eighth Avenue otock
15-A / 05 10.)
Scrip 8s 1911
426 & Or St Fy stock_100 195) 220
42d St 11 dc St N Ave__ _100
oU
2d Incom., Os 1015
J-J ,40
Inter-Met-Sea Stock Exch loge list
Lox Av & Pay F Is-See 8th Exc :1st
Motropol St Ity-See Stk Exe list
Ninth Avenue stock.__.100 150 175
9
13
Second Avenue stock_ _100
49
40
C01130i Si 1048
F-A
20
•Sixth Avenue stock _100 120
'15
Sou Boulev bs 1945____J-J 65
05
So For 1st 53 1919
A-t) 85
Third Avenue 1111--Sers Stk Exc list
80
Tarry W P dr bi be 1928__ / 60
85
Y'kers St 1111 63 1941) A-0 78
25
23111 & 29th Sts Is '90....A-0 j 18
Twenty-third St stock_ _100 190 215
Union Ity 1st Is 1042._ _F-A 10112 103
74
Westchester 1st tis '43 J-J 65
Brooklyn.
Allan Avenue RRA-0
Con Is g 1931
A-0
111.1ekWE 5s 1933
10
Brooklyn City Stock
Con Is-See Stock Exch
Bklyn ligts lot 53 1941 A-0
Bklyn Queens Co & Sube 1st g Is '41 op 1916 _J-J
e let con Is '41 op '16 M-N
Bklyn Bap Tran-See Stock
100
Coney Isl & Bklyn
1st cons g 4s 1948_ _J-J
J-J
Con g Is 1955
Brk 0 A N Si 1039_ _J-J
Kings Co El 4s-See Stock
Nassau Else pref
100
53 1944
A-0
let 43 1951-See Stock
N W'b'g dr Flat 1st ex 415s
Steinway 121 03 1922-__J-J
100
08
163
loge
93
102
102
108
Itst
102
08
07
Exc
50
75
75
08
Exc
101
09
list
65
82
80
101
list
1-61-- 101Exe list
00
100
94
104
Other Cities
Buffalo Street KYlet consol Is 1931__F-A 10312 104.
A-0 104 105
Deb Os 1917
100 83
85
Columbus (0) St Ity
10
05
Preferred
9712
Colum Ity eon 53-See Phi 5a list
_J-L)
102 105
Crosst'n let bs 1933.
100 74
70
• Conn 11y A Ltg com
100 80
82
e Preferred
Stock
Eke (1st
lit dr ref 4 he-See
85
Grand 'Lipids RY pref 100 80
J-J 100 10614
Louise St So 1930
Lynn & B03 1st Si 1924 1-D 10512 10634
• New On Rya & Lgt___100 41 _100 8014
e Preferred
Gen Hg 438s 1935-See S tk Ex list
e Pub Serv Corp of N J-See Stk C 51151
Tr Ws 2% to 6% perpet 10512 107
Col tr g5% notes '13 A-0
North Jersey St By_ _100 -6-5-77
1st 4s 1948
M-N
76
Coat Tract of N J___100 75
lit 63 1933
J-D 1114. 10*
*Pa share. P Hags.
519
THE CHRONICLE
Street Railways
Bid
Ask
Pub Sere Corp NJ (Oen)Nevric Pas 11y Is '30__J-J 10612
100 235 241)
Rapid Tran St ay_
___
let 54 1921
A-0 102
J C Hob A Paterson77
MN
76
45 g 1049
So J Gas CIA Tree_ _100 130 -1/9
Clu g Si 1953
61-S 11/1
No Bud Co By Os 1014 J-J 101 102
Is 1928
J-J 102
Est Is 1924
M-N 100
Pat Ry con (is 1931__J-D 114
26 03 opt 1014
A-0 10112 103
:3o Side El (Chic)-See Ch icago list
Syracuse It T 53 1940 _11-S 10114 102
09
Front & H 53 1943__J-D 96
United Itys of St L914 912
Com vol tr ctfs
100
e Preferred
100 4014 41
Gen 4s 1934-See Stock Exe lIst
Unit Rya San Fran-See Stk Exc (ist
Wash sty & El Co
100 4312 44
,
1 912
Preferred
100 89
43 1931
5-1) 85
8C)
Gas Securities
New York
Cent On (las Si 1927..___J-J
Con Gas (N Y)-See Stock
e Mutual (las
100
New Amsterdam Gaslet cottsol Si 1948
J-J
NY&ER Gas let Is '44 J-J
Como! 53 1945
J-J
N Y & Richmond Gas..100
Nor Un 1st 6s 1927____BI-N
Standard Gas corn_
100
e Crete -red
100
1st 55s 1930
Al-N
10012 10212
Exc list
167 175
101
104
101
10134
103
103
gi" 102
70
95
10412
10512
Other Cities.
Arn Gas & Elec coin _____ 50 *57
59
Preferred
50 *43
4412
Amer Light & Tract._.100 291 298
Preferred
100 10112 101)
Amer Power & L. com..100 75
Preferred
100 8212 5312
Bay State Gm
s<28
12
50
LlIngh'ton (N Y) Gas Wks
1st g Is 1938
100
A-0
Brooklyn On Gas-See Stk Exc iLst
Bulfalo City Gas stock..100
5
612
1st Is 1047-See Stock Exc list
Cities Service Co
100 74
76
Preferred
100 71)
81
Con Gas of N J Is 1930 _J-.1
1)3
iEJ
Consumers' L It & PowIs 1938
J-D 100
Denver Gas & [(lee
100 210 -- .Gen g be 1949 op____M-N 02
94
Elizabeth Cia.s Lt Co.,
100 300
Essex & Hudson Gas _100 138 1143-El
Bergen
Gas &
Co....100 83
85
e Gr Rap let Is 1915 _ _11-A
09 (01
Hudson Co Gas
100 132 130
Indiana, Lighting Co__ 100 33
43 1958 op
F-A (37
6012
Indianapolis Gas
so 20
27
let g Is 1952
813
A-0 71)
Jackson Gas Si g 1937,.A-0 06 100
c Laclede Gas-See Stock E xch 11
Preferred
100
Madison Gas Os 1926_ _A-0 103 103
Newark Gas 63 1944_ _Q-J 127 129
Newark Consol Gm
100 97
e Con g 5s 1948
54) 104
No Iludson L EL & Pow6,3 1938
A-0 100
Pacific Gas & E, corn_ _ _100
Preferred
100
8)
Pat is Pas Gas & Elec..
02
e Cott g (3 1941)
_ M-6 101
St Jofepli uas 5.3 1937_J-J
151
:14
Bid
ASA
Bid
Ark
Industrial and illiscel
Eloctric Companies
65
Consol Car Heating____ 100 58
Chisaso Edison Co-Ss• CA cago list
41
3
Gr't West Pow Si 1048_
Consol Rubber The-.--..
85
87
29
e Kings Co Ill L & P Co_100 128 128
_ 100 20
Preferred
Debenture 41 1951_ A-0 / 4112 9312
Narragan (Pros) El Co__ _50
87
NY & Q El L de Pow Co..100 53
100 1134 1214
50
a Crucible Steel
8112
100 73
Preferred
e ['referred
100 81
76
1
United Electric of NJ._ _100 90Davis-Daly Copper Co _10
1st g Is 1939
78 -'
76 - e Diamond Match ( o_100 1011, 10434
J-D
29
Western Power corn_ _ _100
31
duPont(E I) de Nero Po 100 135 145
90
Preferred
60
61
100
e Preferred
100
J-1) "0;
e Gold 0-is 1936
15
Telegraph and Telephone
Electric Boat
100 n10
51)
e Artier Teleg & Cable__ _ IOU
78
80
Preferred
1011 n11)
15
e Central & So Amer_ ___100 115 118
Empire Steel
100 10
Cotuml tin Tel (N Y)__25
55
_
Preferred
100 50
Empire & Bay State Tel_ 100 10865
75-- e General Chemical
100 12312 .31
Franklin
43
100 40
e Preferred
100 106 10)1,
*14
e Gold & Stock Teleg_ _ _100 110 118
Gold Hill Copper
1
e Northwestern Teleg____50 108 113
Ols
Greene-Cananea
20
Pacific A Atlantic
25 65
70
Guggenheim Exploen_100 180 195
,
99:2 e Hackensa.ck Water Coe Pao Telco & Teleg pref 1051
;..17
Southern & Atlantic
83
25 -80-- 90
Ref g 45 '52 op 1912 J-J
10
7
Hall Signal Co coin
5
3
Ferry Companies
Havana Tobacco Co....100
98
13
N Y 1st 63 191 1
8
12
J-3 88
Preferred
10(1
lot g So Juno 1 1922 _J1-1(
12
NYAER Ferry stk.- _100
)
) 47
IS
.-do- Jecker-Jones-Jevreii Shilling
tot 53 1922
lot (is 1922
99 102
N Y & Bob Si May '46_J-D 081; 9914
:5
15
Hob Fy let 53 1916_61-N 10512 107
Ilerring-II311-Slar new_akS
10
iloboken Land A Imp_100
NY&NJ511946
J-J
25
4
35-1-04-- ,-t;5-1let 5s Nov 1930
10th A 230 Sts Ferry...100 98-914
63
9
Houston 011
let intgo Si 1919__J-1) 58
100
7012 73
23
Preferred
Union Ferry stock....100 21
04
99
, Ien ie
,ref
soeltr-rietdand eons_ 1(0
Al-N
e lit 53 1920
)(0
) 10.1
100 100
Intercontinental Rubber 100
0 2334
Short-Term Notes
95
Arno.' Cop 53 Apr I 1012.. 100 1001s Interna.C1 Banking Co 100
International Nickel__ 100 243 730
American Clg5z'
llortergerIrse511,32
100 08 101
13cr B 43 Mch 15 '12_ _M-S 1.9- 10012
1,
011
3:14
Bait & Ohio 4 :is 1913-J-D
A-0 91: 9.512
3 Intlesrtnagt157a110S5allt
5
940
9
514:
100
2
Bethleh Steel Os 1914_ _11-N 19,0
53
Ches A Ohio 4123 1914_5-1)
9112 10
Laternational Silver
1115)1 tg 100
Chic A. Alton Si 1913_,M-S
9
4
Preferred
100 115 118
Chi Ham A I) Is 1913_J-1
111
1st 63 1948
Erie Os Apr 8 1914___A-01 10012 10034
9812 Internat. Smelt & Berg..I.ID
I/O 1-1--0 129
eGeneral Motors 63'15 A&O 98
Jones & Laughlin Steel Co
tiodso:1 Companies101 10214
1s1 s 1 g 5s 1939
9812 09
Os Feb 1 1913
F-A
45
e Lackawanna Steel
_1-0N
0
B
63 Oct 15 1913- A4015 0812 00
s114
0614 0712
e lot eon 51 195th ,.._11-S 80
Int A Gt No Ss Tr Co Ws
98
512 ,1J7
1,34
K C ay A Lt 6s '12
51-S (3314 9312
11-S 0
9334 9414 Lanston Monotype
sllan
lit L g 5s 1913_ _F-A
100 0434 9472
200 270
Lawyers' Mtgo Co
310 Kan A Tex 53 May 1'13
0612 0634 Leh & Wilkes-B Coal_2(50
MoPaelfle Is 1914
J-D
10 250 _
97
98
e Lorillard (P) prof
Nat Rye of Hex 450'13J-D
100 145
60
$NYC Lines Eq Is '11-'22 8412%
Madison Sq Garden
100 50
b412% ln
155 105
2d 63 1919
M-N
494e Jan 1912-1925
N Y Cent 48s 1914___M-S 100 10014 Manhattan Transit
90 *Pia 211A
N V NBA ii Is Jan 1912 10,112 100s, e May Dept Stores-See Stk Exch list
elliami Copper-See Stock Exch list
4345 Meh 1 1912____M-S
11112
Pun Sere CorpNJ 53'13.A-0
Monongahela B. Coal
50 *10
2 -1-19 Preferred
St L ASF Us 1913
_M-S -9-8-150 *3334 34
9814
9s3
4
Mortgage Bond Co
Is June 1 1913 opt__J-D
100 111 114
9972 10012 Nat Bank of Cuba
South Ity g Is 1913
_F-A
100 102 106
a National Surety
100 220 230
Tidewater 6s, 1913, guar._. 10112 102
95
97
Nev-Utah Min & Sus
Wabash 4540 1913__M-N
10
is
20
West Telep & T 53 '12_°-A 10014 10052 e New Central Coal
e
95 10
97
11342 e New
York
ed
25
100
Westingh'so El & SI 6s 1913 101
66
100
/35% notes Oct 1917_A-0
N Y Mtge & Security__ .,100
219
Railroad
N Y Transportation
4
20 *3
Chic Peor & St L94
Niles-Bem-Pond com___100 92
97
Prior lien g 454s '30_M-S / go
50
NiplesIng Mines
5 $758 77s
Con mtge g 5s 1930_ _J-J f 40
15
Ohio Copper Co
10 *138 114
Income 53, July MO.__ _ f 6
212 3
Ontario Power CoChicago Subway
100
9678 9813
1st g Es 1943 opt ___F-A
Northern Securities Stubs_ _ 100 103
114 214,
Pitts Bees & L E
35
e Ontario Silver
100
50 .30
0tli,
70
sre
Efloeivrator
70 '
ed corn
Preferred
100 69
50 500
e Railroad Securities Co100 99 101
92
Pltpts
rebfuerrg
rehd Brewing
1110 stk tr etts ser A
52 88
50 4,1778 18
43
Seaboard Company50
87
e Pittsburgh Steel pref__100 - -- 104
lot preferred
100 84
75
0
Pope Mfg Co corn
45
Corn & 2d pref-See Bat t Exc Ilit
10
00
0 40
77
92
Preferred
West Pac 1st 53 1933_11-5 91
7:
101
Pratt A Whitney prof. _100 .1
Industrial and Allscel
83
85
100
Producers 011
Adams Cap g 43 1947 J-D
1 0
eltay Consol Copper -See1080 856 Ils:
Ahtneek Mining ______ _25
Realty Assoc (13klyn)
100 112 117
Alliance Realty
100 125 135
Royal Bak Powd corn_ _ _100 195 205
49
Amer Bank Note corn
50 *40
53
Preferred
100 z10612 103
Preferred
50 *51
Safety Car Heat & Lt......100 120 121
American Book
100 165 170
94
eA m Brake Sh&Fdy com100 90
Seneca Mining_
25
265
Singer Mfg Co
ePreferred
100 128 Eel
6
South Iron & S com
American Brass
1(
010
0 252
10U 122 124
')
b
10
American Chicle corn_.100 24) 250
Preferred
11000
0
14
Preferred
100 104 1_0_7_ Standard Cordage
1st Id g 53 '31 red__ _ _A-0 '1
2-- 15
Ain Grapimplione corn...100
Adjust Hbs Apr 1 1931__ I 1
3
Preferred
100
Amor Hardware__
16--__ -- Standard Coupler com_100 42
45
100 140
Am Malting (is 1914_ _.J-D 9912 10112
Preferred
100 105 115
17
Amer Pres-3 Assoc'n
e Standard Milling Co__ _100 15
100 00 100
e Preferred
53
eAnser Snuff corp
100 47
100 200 300
elst 5s 1030
88
11-N
e Prelerred
100 88
Standard 011 of NJ
Am St Found new-See 8 tk Ex list
100 51)3 597
Studebaker Corp com 100 54
55
Os 1935
A-0 101 104
6812 6812
Preferred
103
1)eb 4s 1023
F-A
Sulzberger A Sous eo pt:1°
00
U x1102012 10112
American Surety
50 28) 285
512 Swift de Co-See Boston Stk Exc ;1st
American Thread pref__ __5 *5
1st Is, See Chlcago Stk Exe .1st
Ain Tobacco Co corn. __100 358 370
54
Texas Company-See Stock Exc list
Amer Typerders com___100 50
a Texas A Pacific Coal_100 98 100
Preferred
100 100 102
86
Deb g 63 1939
M-N 9912 IOW? eTexas Pacific Land Tr_100 85
2
234 rile Ins Co of N Y.__IOU 123 135
Amer Writing Paper_ _l00
ePreferred -See Stock Ex cla'ge list
Tonopah Min (Nevada) __1 *534 6
4
8
elst s 1 g 50 '19 red 105J-J
90
Trenton Potteries com__100
100 5
25
0
66
Preferred new
All Glf & W I SS Lines_ 100
9
35
Preferred
100 1712 1818 Trow Directory
:
: 69
sUnderw'd Typewriter-See Stk E x list
Col tr g 53 1959
J-J ..(1_7!.:
40
4212
35
Union Typewriter com 10U
Barney & Smith Car ....100
1st preferred
100 108 113
Preferred
100
WO
26 preferred
50 80 100
100 103 105
Bliss Company com
50 120 125
United Cigar Mfrs
Preferred
100 50
51
100 3245 250
e Preferred
IOU z100 102
Bond & Mtge Guar
100 123 125
United Copper
Borden's Cond. Milk_
100
112 134
.
03
6715
2 104
812 u P
Preferred
100 r1
sre
cfas
eru
re
adlty
153
100 11
100 215
British Col Copper
lb
U f3 Envelope corn
77
Butte Coalition Miming_ 15 *14
2
212
0
100 110
72
114
Casein Co of Am coin_ 100
Preferred
53
U S Finishing
100 40
Preferred
SI
Casualty Co of Amer_ _100 125 140
Preferred
10°
00 105
0 110
100 134 137
J-J 100 105
let g Si 1919
Celluloid Co
5
100
10
J-J
95 100
Con g Is 1929
Cent Fireworks coin.
40
100 15
e U 8 Indust Alcohol
WO
22
29
Preferred
100 700 100
Chesebrough Mfg Co
a Preferred
105) ---- 96
U 13 Steel CorporationeChino Copper Co-See Stec Exc list
100 - _ 65
Col tr s 1 5s 1931 opt '11 _ 1141s 115
City Investing Co
100 98 100
Preferred
Col tr 8 f Ls '51 not opt__ 11418 115
105) 95 100
_... 11 S Tit Gu 4 Indem_100 100
eClailia (II I)) com
100 91
Westchester is Bronx Title
c 1st preferred
100 92
100 160 :65
e 23 preferred_ _
tgise
'eo
G"
Air
r Brake
_
Wettit
tO ,
1 145 14712
Col & Hock Coal & I pf_100
J-J i41- -6-5 - Worthingt'n Pump prof_100 108 110
let g 5s 1917
(15
Col Cr (13 Oct 1956....-J-J /45
j Sells un Sto34 Excaanio. but aot very active. I Flat price. ri No,aalast.
215
s Sale isztoe._
Now stocic. a Hr-city.
BOSTON STOCK EXCHANGE-Stock Record, Daily, Weekly and Yearly
Range for Precious
Range since January 1.
roc s
Sales
SHARE PRICES-NOT PER CENTUM PRICES
Year (1010).
On Casts o1 100-share lots.
BOSTON STOCK
,he
4
'
--Saturday
Aug. 19
Monday
Aug.21
Tuesday
Aug.22
Wednesday
Aug.23
Thursdai
Aug. 24
Friday
Avg. 25
of
Week
Shares
EXCHAN GE
Lowest.
litgliest.
Lowest.
Railroads
11614 J'ne
0112 J'17
10412 10434 103
218 Atch Top & Santa Fe_100 10218 Jan 5
104
10614 10628 *10514 10512 10514 10514 *10458 105
5712 Aug
100 10118 Jan 3 105 J'ne.no
Do pref
Last Salc 10212 Aug'11
*10112 10212 *10134 10214 010114 10134 *101 10112
226
21
Apr
J'ne
213
15
219
Feb
100
Allaany
"No
&
Boston
221
221
*221
221
222
22114
221
221
2
*22114 22214 22114
2214
100 1262 Aug 10 13012 Aug 1 x122 Aug
n
tga
ost
127
11 1B3o
12634 12634 12634 12634 *12611 12712 12714 12712 127
12834 127
100 207 Feb 1 21712 Aug 21 200 J'ly
_ *217
____ *217
218
*217 -- 21712 21712 *217*217
100 101 May10 12238 Feb 15 .118 Dec
103 103
102
243 Boston & Maine
102
103 10312 102 1-01 103 1-0-3
10212 104
Mch
285 Oct
297 298 *295 ____ *295
300
2 Boston & ProvIdence_10u 292 Mcb 21 300
*295 ____ *295 ____ *295
11 J'ne
Boston Suburban El CO3.. 13 J'ne 20 16 Mott 1
Last Sol,1312 Aug'11
*1212 14
*1212 14
*1212 15
*1212 15
7614
2,
J'ne
6
70 J'13,
Jan
72
Do
pref
Last
Sall 7818 Aug'11 -_
*75
*75
*75 ____ *75
8 Mot
6 Feb 15 13 J'ly 13
Boston & Wore Eleo Cos_
Last Sae 12
Juiy'll
*____ 1212 *____ 1212
35 Aug
3812 Jan 3 58 J'ly 1
Do vet
Aug'11
Last Sc:C 51
56
5656 *
55
Sep
139
3
Aug
185
29
Apr
150
_100
Chic
By
USY
&
Juno
105 163
165
165
529
153 167 i65 105
165 165
165 145
107 Mehl/ 11512 J•ly 25 109 Oct
_ 114 *-__- 114 *114
115
40
„ 114 *
*11412 ____ 114 114 ,271
260 Oct
272 J'ne
31
Jan
255
River___100
CoD
t
et
ru
lo
P
ueot
nn
_
Las
!:e
,
S
July'll
272
____
*271
*271
100 125 Apr 10 130 Jan 4 12414 Sep
-51 Fitchburg, prat
*12712 128
*12712 12814 *12712
12712 11712
*12712 12814 128 128
100 11712 Jan 28 15712 J'ly 27 104 J a a
Ga. By & Electrtc
Last Sr' 15712 Juiy'll
____
*159 ---- 1,159
85 Apr
100 80 Feb 20 0312 J'ne lv
pref
Do
Sat"
Last
Aug'11
9212
*93
_-*92 __ *92 ___ *93
8140 J'ly 25 215 Jan 18 202 Feb
100
--5
*141 14
/11401 July'll --- Maine Central
Lair
_ ___ 141
*141
*141
1414 J'13r
100 10 Apr 20 24 J'no 3
1812 1712 1734 17
18
1714 I:EP Mali Electric Cos
1812 181: 1814 1814 *1814 -1-975 JOY
100 8384 Jan 9 9518 J'ly 15
Do pref
8812 8712 8834 87
88
89
8814
8812 8812 *88
89
*83
Apr
149
23
Feb
15138
14
1328
Aug
4
13312 13414 13312 13414 134 13412 13312 13414 13312 13331 13234 13242 1,00r5 N Y N If & Hartford..100
139 Dec
100 139 Jan 13 142 Mch
Last Sale 142 July'll
__ Norther' N H
May
210
14
J'ly
213
24
Jan
210
pref..100
Wor
&
Norwloh
----_
*H1Sale
Last
212 July'll
-_-_-_-_
*212
100 123 Meh 15 189 Jan 3 18114 Sep
1-8-8- *18712 188
----188 18818713
18712 18712 "-Hs Old Colony
188 183
*188
23 May
100 32 Jan 26 43 Feb 21
150 Rutland prat
40
*35
40
35
*35
35 *35
38
40
38
40
*35
100 10512 Apr 16 112 Feb 27 103 Aug
5 Seattle Electric
*10912 11058 10912 10912 *10912 11058 *111 11118 *10912 11118 *10912 11118
9834 Auv
100 29713 31ch13 10312 Aug 9
Do pref
Last Sais 103 Aug'11
*10112 103 *10112 103 *10112 103 *10112 103
100 18012 Aug 25 19213 J'ly 22 15314 JOY
Pacific
Union
.
,813
1
17078
16934
17015
107
16834
17134
)
167
16012
3
169
10912
17234 17312
8914
J'1Y
0
Mch
0513
May12
90
___100
pref
Do
91
9112 *9012 9112 *9008
July'll -_
Last Sale 95
*9112 9212 *91
Vermont & Mass___100 150 Mch21 164 rue 10 151 Oct
*162
Last Sale 164 June'll
*162 --- *162 ____ *102
03 Men 22
83 loP
St
End
West
88
c1
8
88
88
88
88
88
*-___
88
88
88
rtIIYe 17
'1Y
1 105 Jan 10
09
60 107/ A
5
Do pref
245
10014
10034 10034 16034 10034 100 10034 100 10034 *100 10014 *100
Miscellaneous
J'ly
6012 May16
3
36
Jan
4812
100
Chem
Amer
720
Agricul
5312
*5212
53
8
533
53
53
5358 54
54
5012 5012
54
0312 Dec
5 10514 Mch 1
,z26
012 JAan
0 93
50
100
servico_10
pr
n
pp
294A
*103 10312 103 10333 103 10333 10314 10338 10314 10314 10234 103
4 Deo
512 Jan 20
378 378
312
378 4
4
334
4
4
780 Amer
4
4
4
1334 Deo
31
Jan
1914
Aug25
1218
50
1,310Do
pref
13r.g
14
4
*133
1378
1213
1378
1334
1334 1334 1378
14
14
Oct
111
27
Feb
122
Aug12
113
Itelln_100
at
ger
pr
p% Su
11412
8 Am
11434 115
16
115 116
114
52
3
11412 113
11412 11514 115 118
ug 17 12012 Mav10 11134 Oct
Aan5
4J
14
13
18
100 12
11512 11534 115 11512 11512 116
115
115
11512 11512 11512 116
12714 J'ly
8
rue
Aug25
15314
13238
0
1
_
l
e
5
2
g
u
A
Amer
293
10,
Telco
T
&
13332
41
18
133
13378
13263
133 13312
134 1341E 13334 13413 13334
26 JOY
3814 Mch 20
12 American Woolen___ _100
2812 2812
29
*28
2814 2814 *28
2912
001. Dec
0612 rna 15
309
Do prof
8812
8912 90
8912 90
8934 00
3 -91/ 88
.
-887
00
90
7 - Meb
May20
11
26
24
‘1
1
:
(
11
M
I
Gulf
ALI
13
W
8
6
&
z8
SS
I
LASS
91.
*____
01p
8
8
8
8
912
*___
16 May
Do pref1718 Aug24 20 Jan 31
30
1813 1818
181F *„... 181i. 171g 171g
*___ 18
512 Jan 18
412 Jly
814 Apr 29
0
10
10
Boston Land___
Last Sale
15 13812 4.1Y
*175412 1161-2 *18412 10: 15412 1111; *15312 15412 *15312 15412 -5L Cumb Telep de Teleg_100 19514 Jan 10 15012 Joe
ADC
71s
1
May
12
865 East Boston Land
10
1012 1C34 1012 1034
*973 10
10
"1012
1014 10
70 JOY
8 9512 Aug 22
b 13
eu
Fa
4j
7718
9473 9478
25 Eastern Stea mship -... 1 00 78
95
95
Feb
227104
29212
Ja
14
8239
J'ly
3
Illum_100
Elec
Edison
959512
287
97
*23
5
64
286
*287 _ _- _ *287
6-,
5 - 287 287
16734 MAY29 135 rly
15134
768 General Electric
154 154
15212 1.5314 15134 15212 151
15212 1-6-3-1:,
*15412 155
7614 Feb
n 3 0634 Aug 3
Alell
4 Ja
7311
45
9314 1,067 Massachusetts Gas Cos1100 x18
93
9314 93
9314 0314 93
93
03
93
93
93
89 May
98 Meh 25
27
'ne
J
9412
Do
89
9712 0712 92
9734 98
*9712 98
98
9712 9734 *9712 98
0 211 Jan 4 235 Aug 3 21210 Dec
100
Lino__ _ 1
pref0
230
31 Mergenthaler
230
*___ 234 *228 234 4225 234 *230 234
234 234
23:i Jan
478 Jan 31
312 Mch2o
100 Mexican Telephone__ 10
4
412 *4
414 414 *4
*314
434 *314 4
*314 4
110 Jan 3 119 Mch 14 107 Sep
poent Yarn,,..,.
E0Cott2
112
112
48 N D
3
112 11217 *112 114 *112 114 *112 114
*111 114
9912 Aug
00 100 Jan 3 11612 MehlJ
10
109
108 109 *108 110 *108 110
108 108 *107
*108 110
137 Jan 14 15012 J'ne 10 12912 Aug
247 N E Telephone
146 140
14612 14712 146 14612 145 145 .
*146 147
9314 Nov
00 Jan 0 105 J'ne28
Pacific Coast Power.,
*105
Last Sale 10412*105
*105 ---- *10.5 _
(3414 -i 53 Portland (Me) Eleo_100 6234 J'ly 29 06 Aug 7
- 6373 -8-3-73
64
6314 6314 6312 13-78
Jan 30 153 J'ne
103
ton.
o
ot
C
C0
D
tea:
0
m
f
il
e
l
e
u
Rw
s
P
1
53
2
7
1
3
150
*Ho" 15912 *159 15912 159 159 15938 15912 153 158 159
5 15 May 1
1114 Jan
Aaunig 17
212 J
87
x1
0 1
10
Hele_ 10
-1312 1312 *____ 14
1312 1312
14
14
14
100 Jail
1 104 J'ne
00 Janb 26
0 13
05
12
10158 10178 10112 162"
10153 102
10112 10112 10183 10184 10153 102
Mob
28
3
Jun
30
60
Torrington
30
30
*2912 30
30
30
30
30
*30
30
30
31
27 Jan
25 27 Mob 23 31 .1147 17
Do pre!
28
40
28
28
28
29
*28
*28
*28
29
29
*28
20
21012 M
5 10712 Ply 15 16512 Jan
13
h2
c6
Au
14
itedk`
100
Fruit
ijUnn
1
1
,
(
5,
18212
180
184
183
185
184
18512 186
186 186
*185 188
5878 Feb 18
4534 J'1Y
rua
Mach
Shoe M
25
Corp
4
4314 4218 4314 4112 4213
4312 43
43
44
44
44
44
25 2714 Aug 14 2914 Jan 31
2514 JlY
Do pref
150
28
2712 2712 2714 2712 2714 2712 *2714 2734 28
*2712 28
J'ly
613 .'ly
58 Aug25 8218 Feb 6
Corp69
Steel
S
U
70.31
8558
24,545
7178
7018
7278
8
717
7278
4
7114
7314 733
7138 73
1t 12012 Feb 2 111
ii JOY
u2
3142 JAaus
163
100 11
Tem...1
11633 11533 11513 11513 11534 11584 11538 11512 11334 11978
Feb
14
6
Feb
2314
48 West TePle
150
pf &
re
1812 1612 *1612 1712 *16
18
1712
*17
18
*17
;1.1
81 Aug
100 89 Jan 23 100 J'ly 28
Do priveitining
9712
*96
30
*9812 98
98
*08
08
98
*9612 98
*9012 98
4 JOY
718 J'ne 16
418 Aug24
895 Adventure Con
25
*5 ___
413
43
4
414
5
414
5
533
*5
73.3 Dec
512
*5
278 Aug24 11 J'ne l3
25
338 8,485 Algomah Mining
318
278 4
512 6
612
514
2
3
6
*6'4 7
4
Jan
39
JOY
31
Aug23
21
e
25
22
22
6 Allouz
60
63
23
21
21
9,5
23
24
2312 2312 24
24
*22
551. J'ly
18 Aug25 7158 J'ne 19
Amalgamated
Copper
100
5878
53
6013
5878
6018
6058
61
60
6153
6012
6214
62
19C2 J'ly
14
J'ne
3058
21
Aug25
Am
3,739
Zino
Sm.
&
Lead
25
2134
21
2218
23
2214
2134
2312 2214 2314 2283 23
23
1214 Mal*
178 Aug24 1838 J'ne 13
218 27,948 Arizona Commercial_ 25
2
178 2
212
2
214 312
338 412
414 6
750 Bonanza Dev Co_ _ _ 10 .50 Jan 5 .76 May22 ,50 Mch
.50 .50 *,50 .60
*.50 .70 *.50 .70 *.50 .70
1512
10 mn3
Aug24
mav27
4
3
413
41,j
3
5
Bos&CorbCop&SilMg
4
8,517
334
378 434
412 5
534
5
6
6
41. Nov
612 Jan 14
312 Aug24
450 Butte-Balaklava Cop_ 10
4
312 312 *312
334 334
*334 412 *334 414 *334 413
uZ J'ne
15 14 Aug25 2012 May24
4,008 Butte Coalition
15
1512
1534 1614 15
16
1612 1614 1612 16
16
0
rue
19
Jan
98
03
04 J.IY
'
4
10
Arizona
&
Calumet
4817
9712
99
3,700
4912 48
4912 48
49
4912 50
60
49
500 JOY
H ecla_ ..... 25 900 Aug 16 545 Jan 4
410
410
410 410
675
9
410 415
410 410
410 415
410 415
8 Aug24 1512 Jan 4
1312 J'ly
25
*712
Centennial
812
812
9
*7
9
9 *____
1 .05 Jan 6 .16 J'neU .01xiy
Cons Mercur Gold._
Aug'11
Last Sale .07
*.05 .07 *.05 .07 *.05 .07 *.(15 .07
Feb 2
53
1-,,-Jc)i Copper Range Con Co 100 50 Aug25 6934
5434 5312 5334 50
54
55
55
56
5534 35
55
612 .1'ne 21
3 Feb 8
312 Sep
20
Daly-West
15
6
*514
514
514
*514 6
J'ne29
1434
6
*5
6
Aug25
512 .512 *5
8
87
614 J'ly
10
30,808
East
984
Butte Cop Min
878
978 1013
034 1012
Dec
1068 1112 1012 1114 1014 11
512 Aug24 19 J'ne 8
25
11,528 Franklin
612
8
8
3
6
0
512
1
133
6 J'ly
818 Feb 6
813
8
812 9
834 614
4 Aug25
413 9,084 Giroux Consolidated_ 5
4
4 1-16 434
5
432i
478 5
J'ly
5 5 1-15
5 5 1-10
9312
J'ne21
20
Aug25
26
Consolldated..100
455 Granby
27
26
28
27
2812 2812 2734 28
28
28
638 Sep
2814 29
778 J'ne 19
552 Mch 10
20
614 3,080 Greene Cananea
6
613
6
614 614 0 1-16 614
613 612
683 634
1434 J'ly
Jan 24 3014 J'ne 19
18
25
Hancock
Consolidated
2,142
1814
18
1812 2014 1812 IS
21
2014 2218 20
2134 22
2 Fob 1
134 Oct
25 .99 Apr 22
vetlamCio
ing
npper
68
*I
1
114 6.3870
1
1
I
1
1
1
1
1
1
10 J'ly
512 Aug 23 16 J'ne 2
25
Indiana
614
912
8
512 8
612 .6
973 1012
6
934 May27
912 934
Aug25
tiss
__10
Copper_
Inspiration
11-16
6,341
6 9-18 878
612 634 632 8
714 8 9-16 7
7
783
7
3034 Dec
1 7914 May ts 403$ J•ne 3
395 Island Creek Coal
6e 3234 3212 3212
32,
34
30 *3412 ---- 3412 3412 33
*35
8414 Nov
1 8412 Aug25 91 J'ne 3
Do pref
454
8412 8412
86
95
86
86
88
2484 85
8512 8534 *85
'no
J
1018
131. May
13
23
Auc
1112
25
Copper
Isle
Royale
2,862
*13
1334 1312 14
1814 1314 1112 1312 1112 1212 1134 1212
21
Jan
773
Sep
25
Aug
30
3-10
4
5
438 458 4 3-18 414 1,213 Herr Lake
412 412
434 434
438 434
483 438
3 J'ly
134 Maylo
334 rue 15
25
Copper
Heweenaw
230
213
218
214
218
212
214
*218 212
212 212 *214 212
'no
J
40
24
13
Aug
JOY
2810
22
25
Lake
Co
Copper
2312 22
7,304
23
2212 2512 22
2714 2534 20
2712 2734 20
Jan 3
- Deo
(,14
3 Aug 17
25
312 1,945 La Salle Copper
312 312
312 312 *3
334 4
312 312
312 312
012 Apr 24 1014 Nlay242
350
5
Mason
Mines__
1
71
Valley
718
*712
714 712
*714 734 *714 734 *714 8
412 Aug24 el° rue 19
412 MA"
onesrol
0,5
15
y6C
531 1,349605
483
512
5
412 5
6
(3
634
*8
*614 7
3 May is ,35 Oct
25 .20 Feb 18
Mayflower
.95
.95
*.90 1
1
.99 .90
1
1
1
114
*1
2272 J'ne21
LOY
Apr
17
100
1814
lide
10
5
ti
r
i
lig
m
aCnopper
1834
*1912
20
*19
1834
1912
*1912 20
*1912 2014 *1912 20
31.. Jan 4
314 Dec
134 Apr 7
25
212
*2
2
212 *2
212
2
212 *2
212 *2
*2
43 JOY
36 Apr 18 53 rue 15
25
Mohawk_
279
38
39
38
39
40
39
40
40
41
41
42
41
17152 JOY
1,802 Nevada Consolidated_ 5 17 Aug 16 2114 J'ne 15
17
1733 1712 1712 1773 1713 1733 1714 1711 1714 1714 17
312 J'ly
414 Anr '28
2 Aug 16
710 Now Arcadian Copper 25
2
2
212
214
21; *2
2
212 *2
212 *2
*2
934 Jan
718 J'ly 24 1188 Feb 17
5
Nipisaing
Mints;
1,551
734
8
734
758
8
3
7
7
7
7
778
778 838
18 J'nc
8 5-16 8 5-16
Aug25
2
rile
3514
4
212
15
North
11,238
utte
2414
2134 2314
24
2412 23
25
2514 2534 2412 2512 24
614 Deo
334 Aug 23
25
934 rne 3
412 4,405 North Lake
418
384 5
4
412
678
8
812 812
*612 7
5 Sop
372 Aug 26
35
812 rue 6
805 OPlaway Mining
378
372
513
5
414
4
514 514
*512 0
0
*5
.25 Aug
5
•
Jan
10
.50
J'ly
312
25
Colony
Old
825
183 153 1 11-16
182 134 -173 178
2
2
2912 rno
25 35 Apr 22 49 J'ne l2
36
-3-81-2 1,080 •ld Dominion Co
36
37
3712 35
38
3814 38
38
39
30
25 88 Aug 28 124 Jan 3 114 J'ly
237 Osceola
89
88
90
92
88
88
90
00
92
92
92
92
11 Dec
Aug24
812
13
MaY22
10
Cop_
Parrot
202
&
Silver
312
812
9
9
812 812
914 10
1014 1012
11
*10
J'ly
25 63 Aug24 74 J'ne21
120 Quincy
65
85
6614 63
66
66
*5614 88
1514 J'ly
6614 67
67
67
1414 Aug24 1883 Jan 4
10
Copper
Ray
1,027
Consol
1488
1482
1414
1414
1434
1412
*1414 15
114 Nov
*1412 1514 1412 15
10
rise
184
'20
Apr
4
3
10
Cop_
100
&
Gold
Fe
Santa
.90
*.90 112 .90 .90 *.76
112 *.90 1
*I
834 J'ly
714 Aug 18 1214 Feb 2
10
383 5,942 Shannon
883 834
8
812 834
I pee
410 South Utah M & S_ 6 .70 rne29 1144 May18
.70 .70
?75
?80 TS
36
J'iY
3
Jan
4212
21
17
Aug
25
4 1,098 3uperior
1
-ii- 19
23
23
23
2412 22
2412 2412 2412 23
438 Deo
15
rne
514
1,442 Superior & Boston Min 10 91124 Apr 7
4
4
372 378
4
312
412
412 4 1-16 414
412
412
4512 J'Ila
Jan 3
24
52
25
Aug
2412
394
Tamarack
24
28
2452
25
25
*26
28
*233 -_26
26
412 Deo
5 Jan 3
314 Aug 28
115
6
312 312
312 1,107 Trinity .
312
314 312
312 312
30 /)eo
334 334
*334 4
3,335 U S Smelt Ret & MIN_ 50 3182 Aug25 4018 rne 14
3314 33
3338 8132 33
3334 3334 3312 3312 33
46% J'17
338 335
4912 ,J'ae24
4512
4
Apr
,
D
prey
50
1,184
4814
44
4512
46
4614
46
47
47
47
4812 4634 47
3f2rna 18
2 Dee
2 Mehl()
5
1,550 Utah-Apex Mining
2
2
213 218
214
2
214 212 *218 284 *218 214
1232 Da.
30 rims 14
ON Jan 20
5
1318 1271 13
1212 1212 2,325 Utah Consolidated
1312 1812 13
1314 1314 1312 14
rna 14 118084
52
Aug25
42
10
823
Utah
Copper
Co
42
44
42
4252 44
4414 44
*4434 4518 4434 4514 44
212 Feb 7
Deo
1 Aug 17
25
480 Victoria
2
2
2
2 21-IS
2
214
034 214 *2
1
1
912 Feb 6
6 J'ly
412 Aug24
25
478 2,290 Winona
512
4$4
6
412 5
6
6
6
5
6
8
10
Fab
J'ty
120
122
Aug24
99
26
240
Wolverine
100
99
100 101
*98 102
100 102
103 103
102 103
2 Feb S.
114 rty
1 Aug 22
26
100 Wyandott
*I
114 *I
114
114 *__
1
1
188
114 *1
*1
sad rights,
Hx-rights. a
*BM and asked prim, 4 New stock, 4 Awl paid. a Ezartook div.
, awtwell
,clie,,,
10-58-
53 Fe.
*13 TS
HP/Uri.
12318 Jan
10414 Jan
234 .'au
13634 Jan
227 Feb
152 Feb
300 Nov
/618 Nov
76 Apr
1012 Sep
43 Jan
160 Deo
118 Jai'
270 Melt
13312 Jan
123 Oct
00 Oct
:.18 Dec
2112 Nov
8834 Nov
16438 Melt
141 Deo
512 Met%
200 Jan
4412 Nov
116 Jan
100 WU
20412 Jan
10333 Jan
188 Jan
9512 Mch
109 Feb
4912 Oct
105 Sep
878 Feb
24 Feb
12738 Mch
124 Mch
14378 Nov
3912 Meh
10414 Mob
1112 Jan
28 Jan
812 Jan
15212 Meh
1158.an
86 Oct
29212 Nov
18012 Jan
9138 Nov
07 men
226 Nov
634 may
124 Jan
115 .Tan
13834 Deo
IOU Jan
200 Feb
14 Oct
10034 Jan
37 Dec
31 May
200 Sep
7134 Apr
31 Jria
9044 Jan
12558 Jan
1934 Sep
24 Jan
10 Feb
1434 Sep
58 Feb
0034 Jan
4012 Jan
5034 Jan
.70 Mch
2414 Jan
1814 May
2812 Jan
103 Jan
83. Jan
28 Jan
.10 Jan
85 Jan
952 Mob
14 Nov
2212 Meh
1112 Jah
11114 Jan
1172 Jan
86 Jan
578 Jan
4434 Meh
3334 Oct
90 Nov
2312 Jan
11 Jan
634 Jan
0412Jan
19 Jan
106s Oct
Ns Jail
29 Jan
812 Jan
75 Jan
2712 Jan
1058 Jan
12 May
60 Jan
2572 Mob
1234 Jan
134 Feb
55 Jaa
105 Jim
2134 Jas
02 Mal
2484 Vik
234 Jas.
18 Jan
334 Jan
6814 Jan
18 Jan
74 Jan
1132 Jan
55 Jas
6812 71.1
04 Pm
45 Jsz
soy Asa
834 hi
16 Jim
150 :sit
JAIL
521
Boston Bond Record
1911.}
AEG.
-es
BUN Ds
11.8
.Pries
BOSTON 3T0CK EXCIPGE
Priam,
t
tCEK 812inuce AUGUST 25
a4 August 25
a
BONDS
Price
11.2
BOSTON STOCK EXCFPGE
Pridav
AuGUsT 25
N.Vicek
August 15
ii;511 Range
Week's
Aince
Range or t.„P;
January 1
Last Hale
Asic Low
High No ;Low Eton.
Boa
Am Agricul Chem 1st 58 1028 A-01013, 1014 2 10114 10212
; 92
90.2, 471 894
t.13 rat cell tr 44 1929 J -J
Alit
4
/
904 Sale 901
4, 14101 1111
/
4
/
1041
ConvertIble 4s..
1936 m.s, 104 Sala 104
90
Am Writ Paper 1st L be g 1919 J • J
90
90 Feb'11 1 4
/
Am Zinc L & S deb 6s....1915 M.N l00'4
10234 103 1 2 IOU 1221
4 165 36
/
571
4
/
921
313
Arm Corn Cop 1st cony Cs 1920 j-D 41 Salo
4
/
991
Aten'1 op &6 re gen g 48..1995 A-0 9834 994 9870.13''11....1 08
01%
91
Adjustment g 46.....J'ly 1995 Nov 91 4 9214 91 14
92
1 111
Stiunpea
1)114 132¼ 92.,
Ply 1905 31-N
50-year cony 4s
1935 J -D,
113 J'IY'111....110938113
110% Mar'1 1. 11084 11038
10-year cony 5s
1917 J-D
6,18' 2, 671
4 73
/
Atl Gull & W 1 SS Lines 58.'59 J.J
4 Sale 67.2
/
671
110 Feu
Boston Elect L consul 58.11124 91.-S
......
1004 blar'011;
Boston & Lowell 48
1916 J -J
4 Oct 08l. '
/
1041
Bostun as Maine 4¼-i1944 J-J
112.2Jan'03
Boston Terminal 1st 340.1947;F-A
103 Jau'll..1 103 1031
4
/
Bur & lilo Bre cons (58 ....1918 J -J
100
Butte & Beaton 151 63.-1917 A-0
Butte Elea& Pow let g58.1951I J -D
111%111%
1118s Aug'il
Cedar Imp a, Me It 151 78.14/16.M•N
00 Aug'11
90
4 Ou%
/
871
Cent Venni lEit g
11103 pet '0'7
......
0 13 & i Iowa Div 1st 59.1919 A-0
1919 A-0
119 Feb'l I
Lowe Div ist 41)
1913 M-N
100% 1014
10114 May'll
Debenture Cos
1922 F-A
994 100
994 bleY'l 1
Denver Eaten 4s
1927 M-N
9912Marll
4
/
98% 991
Nebraska Eitel) 43
1021 M-S
. 994 991
994 90% 994
4
/
B & W is f 48
1945 J -J
4 884
/
8712 Sale 87¼
4 5 571
/
871
Ilanoni Div 3las
102.8
1915
4
/
56
1011
100
102
102
Ohio J By es Stic Yua
.1 891
4 9084
/
904 Aug'11
91
trust refunaing g421940 21.0
.)JCol
114 Jan'll -.1114 114
& St F Dub D 68 1920 J -J
`h
113% 113%
113% Feb'l 1
St P Wis V 01v 661920 J -J
Jh
4 101
/
981
95 10U WO J'ne'l 1
Mete No Mien 1st gu 53.1931 M-N
IOU
4 14 100 101%
/
1011
Ohio &W Mach gun 58.-1021 J -D
..
Concord & Mont eons 4s 1921, J-1)
91 Dee'07
..
1124 Jan'03
CIonn & Pass It 1st g 48 1948 A-0
10(11
4 A.ug'00
/
Cudahy Pacir(The)let g 5s 1924. MN
97 Mar'll
97
1526 4•0
97
Otirrent River lit Os
57
87%
87% Jny'll
Dot Cr Rap & W1st 4s 1946 A-0 85.2
93
9534 NS
Dominion Coal 1st ii f 68-1940
98¼ 1(8 .1'ne'll
1916 MS
....
1034 Apt'05
Fitan burg 43
1927 M-14
96 Apr'05
Li
128 J'ly'I
Fremt ELk & Mo V 1st 64 1933 A-0
1983 A-0
140 Apr'06
Unstamped let 1.14
4 Sale 964
/
061
964
at Nor0 B & Q cell tr 48 1921 J-J
1931 Q-.1. 96 Salo 96
136
19 9636 98
Iteglmterea 4s
••••
••••
••••
••••
10
rill;
135¼
98'
4
Illinois Steel deben 58....1913 A-0
la Falls &sioux Clot 78..1917 A-0
Kan C Olin & Stir 1st 5a...1925 A-0
Kan c let S&Gull ext5s...11111 J-D
68....1928 M-24
Kane Ft Scott &
1934 M-S
Kan OM & It gen 4s
Assented income Si
1931 M-S
Kan C & B IV& Br 1st 5s1929A•0
Maine Cent cons let 78...1012 A-0
1912 A-0
Cons 1st 48
Mara Hough & Ont Jet 63.1925 A-0
1929J.J
Maas Gas 4129
19171J- J
N toO Teleplst Is
Minna Gen Elec con g be 1929 j.J
New Rug Cot Yarn 58....1929
1915 A-0
New Bug Teleph 58
1.91.61A.0
fis
New Englana cons g 68 111451J -J
19391A-0
Boston Tenn 1st 4s
New River(The)cony 56.1034!j
Y N & cou deb 3411195610-J
191S1J Cony deb Os (etts)
1024 F-A
Old Colony gold 4s
Nav con g48. 1046 J-D
Oreg Ry
1922 F-A
Oreg Si, Line 1st g Os
Pere Marquette deb g 66..1912 3.3
Repub Valley 1st s I 6s...1919 J -J
48.1941 J -J
/
Rutland 1st con gun 41
Rutland-Canadian 1st 481949 3-3
Savannah Eleo 1st cons 56.1952 J-J
Seattle Eleo 1st g 58
1930 F-A
Shannon-Ariz lst g 68
11119 14-N
Terre Dante Eleo g 58...J1929 J4
Torrington 1st g 3.13
1918 2.1-13
Union Pao RR & 1 gT g 48 19,17 J J
1927 J-J
20•year cony 48
48 1923 3.3
/
Unitea Fruit gen s I 41
S Coal & Oil 1st a 68..1938 M-N
US Steel Corp 10-60 yr 68.1963 bi-N
West End Street Ry 48-.1915 F-A
M-S
48
/
Gold 41
1916 M-N
Gola deoenture 4s
1917 F-A
Gold 48
Western Teleph & Tel 56.1932 J-J
Wisconsin Cent 1st gun 4131.949 J-3
Week's
Range or
Last Hale
,"111 Range
Hines
t ot
c January 1
_High ..vo' Low triglb
Low
, 100; 1 IOU 102%
1.003
117 Apr'08
1414 Feb'll ....1,1 944 944
1.1)0 1004
100 May'l 1
4 11;31
/
4 5 115 1164
/
116%1174 1161
4
/
931
al 92
92
92
92
110
89 Aug'11 ....11 88
91
10.
102
4
/
1021
10234 Feb'111.....110234 10'2.4
1014 Sep 9/51, ...1 ......
115 J'ne.081.
4 100%
/
0978 100
91'75 Aug'11....991
4 91/1
/
4 Mar'il ..I 931
/
1191
4
/
1
102.2 Aug 04.
100
.100 103
101 Aug'11 .
10138 maell ...;.110134 102
IOU 4 Sep'08
......
But
4
/
1001
......
104
80
983
.481c
75 Oct '10
0634 aley'l 1 ....I 9634 90'5
4 May'll
/
1331
,1344
1323
101 Apr'09
'
987 sep'09
1147
4
/
.
114.4 1141
138 J'ne'll
953
115
103 103
103 Jan'11
•••• ..
4A
/
1071
102 blat'02
704 Dee'10
104 105
104 Aug'11
113
01
1/1 12 Aug'11
140
Apr'07 ••••
.
..
100; Mar'10
10088 101
100% J'ly'11
101% Apr'll
10138101%
933¼ 117 Aug'11 .... 9576 13712
165Nov 10 .
1041
4 10184 71 104
/
.4 11,6
99 Meru __I 981
4 99
/
4
/
100 12 May'll
1004 1001
1/8/
4 Apr'10
1
3.1; 99
.
11 1.4
99
99
7
08
99
98
.IOU
15 963
9314 Jam'11
984 934
NOTa-Buyer pays accrued Interim& Is addltaen to the purchase pries for all Boston Bonds. *No pries Friday; latest bid and asked.
II Fiat price.
Philadelphia and Baltimore Stock Exchanges-Stock Record, Daily, Weekly, Yearly
Range Sines
Jan 1 2911
Share Prices-Not Per Contains Prices
ACTIVE STOCKS
Sales
,o1 the
Bonds and Jnactive
Tuesday I Wednesday I Thursday I Friday I Week (AbrStooks
Saturday I Monday
see below)
August 19 August 21 1 August 22 August 23 August 2‘ I August 26 Shares
;-13034 92
92
lh134
128 r
lad
27
.23
58
*54
1134 *1734 184 51784
91
93
*
27 1 .23
*24
*55
18
*1734 18
.11
*14
44%
1178
4
/
521
'2912
7112
1
128
12
"11
*11
12
12
12 I .11
. 45
46
444 46
41 4444 443
/
441
4 4188 443
/
4 45
/
44% 141
4411 441
.
117
1178 1l°4 11% 1176 1178
02
52
5234
52% 5234
524 5'2
4 30
/
4 30
/
*2111
4 30
/
4291
*291
31)
71
71
71
71
'70
4 71
/
711
25
4 244 '24
/
'241
24
244 25
4 893 8931 139¼
/
8,3 12 891
110
e89
821140
31%
82',4! 82
4
1
/
81
492'51s
/
821
60816
61/
4 60% 60146 WI%
/
601
4 61
/
4 621
/
62 1 .51
4 "811
/
521
.52
174
171
41
/
174
/7
174
1718 174
23 1 23
234 '23
2318 231
4 23
/
71% 7212 71514 7241 711e46
721.46 73
•6..
S"4 Ol
5., 5"14
5% 5%
8 50% 50341 50.4
51)% 50,
5076 51
80136
86% _ WS
bti
86
86
P111 LAI)ELPILII A
Bid
Ask
24
8114
824
4
/
601
4
/
521
17
23
724
o 4$
51.1.4
MS
_
.23
513
18
92
.90
91
, 99
.983
126 *124 126
26
4 *24
/
261
67
*55
56
*/74 113
18
PHILADELPHIA
1 Bid I Ask
PHILADELPHIA
Ph Ss Read 265a '33.A-0
Ex Imp M 46 g'47.A-0
Terminal 50 g1941.14-F
P W & B col tr 48'21.J4
85
4 Read Tree 1st68103334
/
861
1004 1008
. Boob Ey&.L con 5s'51J-.1
Spanish-Am 1r 68'27 J4
4
/
541
Stan'ilGas &IC 68'25.M.N
Stand St1Wkslet58'48J
U 'rrac Ind gen 50'19.J...1
117
Un Rya Tr Ws 48'49J&J
102%
United Rya Inv 1st coil tr
a f 513 1926
Welebach a 1 5s 1030.0.1)
WIka-B c431Eeon5s'53.14
90
'York Rye 1st55 1937 .1.1)
89
91% 93
BALT1310KE
4
/
821
57%
57
inactive Stocks
85
Ala Cons Coal& Iron.100
100
Fret
4
/
671
101
Allan Coaat L (Conn)100
100
104
Canton Co
109 1091
4 Georgia Saudi Fla. 100
/
100
104
1st prel
100
26 pref
100
G-13.8 Brewing
103.4
IOU
147 1484 Houston 01.1
100
Preferred
1/5
86
Bonds
Prices are all and
Interest."
45 1930. .J4
/
Bali City 31
08
4.5 1954-1955...Various
51-8
l's 1016
Anacoetia & P0158
ALI Coast L(Ct)etfe533-1)
MN of indebt 44. .J4
103
J-J
4
/
931
113
5-20 yr 4s 1925
48 153F-A.
1
1024 102% BSP&O 1st4/
011
Bait Trao let58-'29 51.17
103 1031
No Bait Div 5s 1942 J-D
4
/
804 81
Car Pow& Lt58 11138 F-A.
107 1071
4 Ceut'lRy con5s1932 91-14
/
4 100
/
971
Jitottest
litaltest
Lowest
I
4 Dec
/
100 64 Jan 9 94 May29 46 Mar 641
100 89 Jan 910012 Pile 71 80 Mar tal J'Iy
50 121 Jail 11 131P4 J'ne.26 115 Jan 132 et.11./
100 21 Jan 4 281.8J'ne 3 1636.7'1y 27 14 Jan
100 4¼ Jan 4 62 One 3 40 Oct 47 Jan
50 161
4 Jan if 19% Ply 20, 1238 May 16 12 Deo
/
Philadelphia
50 12 May23
American Cement
12
*11% 12
85 Amerman Railways..., 50 42 Jan 5
4 45
/
*441
45
50 421
4Jan 3
/
44
4 2,508 Citillbria Steel
/
443k
441
4 Jan 4
/
314 Electric Co of America 10 111
1178 11', 11%
780 E160 Storage Battery,,IOU 48.2 Jan 3
52
511
4 51%
/
4 Aug26
/
WU 281
265 teen Asphalt tr Otis
4
/
4 281
/
We 281
100 70 Aug24
94
Do prof tr ctfs
4 70
/
4 .6111
/
701
50 74 Aug./2
Keystone Telephone
74
*7
100 23 Atigi6
1,262 Lake Superior Corp
244 *23
24
24
4 J'ne23
/
107 Leaigh 0& Nay trolls 50 931
89 I 83
8)3
89
50 804 Aug.5
804 81
2,507 Lehigh Valley
814 82
50 59% Aug2e
.2 7,402 Pennsylvania lilt
.
50616 60.2 698
Pluladelp'aCo(Paten)) 50 x50 Jan 3
*6012 614
82
*51
4 17
/
161
17
1,788 Philadelphia Electric II 25 16 Jan 19
17
4 '2234 1,065 Phiia ltap Tr vet tr ctis 50 17 Apr le
/
221
22% 23
50 70 Aug25
70% 10,972 Reacting
70%711146 70
6
615 511, a
1 5'J'1y28
2,447 Tonopalt Mining
50 43 Jau 3
5034 563, 504 50% 1,511 Union Traction
50 8614 Aug II)
.2 85; 1,607 United Gas Impt
be% 116 1 135
_
• 'Bid and asked; to sales on this day. 1 Ezaliv.db riehts. 11515 paid. t 3124 Paid-
Lowest
.11
4
/
*411
144
1176
5 4
2J34
70
Bonds
inactive stocics
14
Prices are all "and
10
American aniline
4 44
/
10 431
interest.*
Clam twat Iron
Alt &LV Elee 4 048'33.F.A
4 811
/
Central Coal & Coke.100 771
Am (lea & Elec 58'07.F-A
100 7
81
Proterred
Am Rye cony fra 1911.J.D,
Coneol Traci of N j 100
Coll trait Si 1917.A-0
80
Gcrtuaitwwn Part8
All C Elmo ref 66'38.14.8
6
Huntingdon & B T....5U
BergabEl3rw let68'21 3-3
10 11
kreferred
Bethle Steel Os 1998.(4-F
100
Indianapolis St
Choc& Me let58 104014
Indiana Union Tr...JOU
Ok & gen 54'10 J4
21) h 20%
Insurance Cool N A..10
CouTrae of NJ let 58.'33
Inter Sin Pow & Clanu.50
4 DelCoRys tr W848493-3
/
151
Kentucky Seeurittea.100 15
E& A 151 14 Os 1020 11-N
Keyeitune Temp v ii c..50
Elea & Poo Tr stk tr otIs
50
Preferred
Gen AspLalt 5s1916.M.S
KeystoneWateliCase.100
4 8s Indianapolis lty 40.1033
1
8/
Lou Vail Trail v t c 50
50 21% '22 4 Interstate 411 11143 ..F.A
Preferred v t c
Keystone Tel 55 1935.34
10
Lit Brothers
Lake Sup Corp Inc 58'240
50
Little Schuylkill
Lehigh Nay 41
48 '14.144
/
Minehill tu achnyl 11..50 604
Gen 51 4128 g.1924.01-1
Nat Gas Elm Lt& Po 100 20
Leh V C 1st Si g'33..J4
lUte 70
Pre,erred
Leli V ezt4s 1st 1948.3-1)
N haven Iron oh btou1.5
Cense' as 1023
J-D
50
Northern Central
97
4s 1923....7,113
/
Cense! 41
North Pennsylvania..50 96
3-1)
Annuity Us
50 113 114
Pennsylvania salt
Gen cons 4s 2003.14-.N
eel..100
Pennsylvania
V
413'35J.1)
Loll
Trau
105
eon
100
Preferred
4 43
/
1st series A 48 1935 M.S
Plata, Co(Pitts) prof...50 421
lotserie8 B 58 1935.31.6
Phil German& 1orrni.50 150 151
83
85% NatL11& P8603 513'10,T4
50
Phila. Traction
New Con Gem 5s 1048 J.D
10
Railways General
1336
N Y Ph & No lat4s139J-.1
Tonopah Belmont Dev.1
Income 48 1939...M.N
United Cos 01 A J....11.)11
Penn as Mil Steel con 68.
Unit Trail Pitt* prof 50
ea NY Can 58'39.A.0
10
Pa
1012
10
Steel
&
'roil
Warwick
Penn Steel 1st 58'17 M•N
Washingtou•Va Ry.. 100 4314
People's Tr tr carts 4,6'43
100
Preferred
P Co let& col tr 5s'49 M'S
40
100
Welsbach Co
55
Con& cot tr 68 11151M-N
West JetSey to Sea Sh.50
Phil Elea gold trust ctfa
Coal....50
Weettuorela
Trust certifs 48
Wilkes Gas a.: Elec..100
P31 E gen Ai g'20.41,0
50
York Railway
50
Gen M as g1920..A&O
. Preferred
•••
Baltimore
50 Con,Gas EL L. .s,.- Pow
Do pret
10
Northern Centre,
Seaboara(new)
200
Do 20 pre!
1,526 United Hy & Electric
IRange jor Previous
Year(DOW)
Bid I Ask
28 Jan
60 Jan
53.2 Jan
12 12 Jan
334¼ Mar
34% Dee
at.. Jan
13 ,,an
29% Deu
123 Jan
1214 Mar
6,984. Mar
634 Jan
1614 Mar
'2812 Jan
86 Feb
'ii May
52% Jaw
135'.Jan
But I Ask
4 Jan 41 17 Dec
/
171
,J'ly
4 Jan 201 413
/
451
2834 hebiS 4014 J'ly
4 Jan 141 114 J'ly
/
121
5618J'11e15, 42 J'ue
3134 Jan 10, 194 J'ly
9335 Jan 30 61 J'iy
4 Jan I.01 7 J'ly
1
9/
32 Jfe0 6 15.2J'n
118 Jan 141 813 J'u
110.2 Feu 3 62.2 J'ly
65 Feb 2'(111146 J'ly
51)4 J.ue 6 42 J'n
18 J'ly 10 I1376 ifee
24 Aug 1 i6 Apr
81)% Feu 10 654 J'13'
4Jau
/
b1
8% Jan 17
5'2,4 Aug 1 38 Oct
8938Jan 13 79 J'ly
11AI:1131011K
0Ry Ext&Imp 56'32 MS
Curse cavity let5s'23J4
Elbe'99 14-5
Chas Ry
99¼! 99 4 City& Sub let 58.222 J.D
120 1125
City & Sub(Was)lat58'45
10041
Coal& C By let 58'19 A-0
41102
/
1011
Coal & I lay 1st 56.201f-A
Col&Gray lat68.1916J4
41
/
1021
Cense' Gam 60..1939 J-D
48 1054
/
A-0
9441
Gen 41
48'35..1-J
/
Cons G E &P 41
77
Fair& C1'1'r 113150'3/3.A-0
, 84
933
Gadb Ala let con 5/04.5J 4
114./14 GaCardaN Ist5sg'29J4
89
Georgia P lst 6s. '22 J4
GaSo& Jela 1st5s 1945J4
1/5
(4-B-S Brew 3-48196114-8
Kiwis? Tree 1st 56'28A-0
Macon By& Ltlistbs'53J4
aid hie° By let 58%31 A-0
Memphis at list 58'45 J4
69
76
Mt Ver Cot Duck 1st Os.
235 242
NptN&O P1et58'351).1-11
116 120
Nor &PorTr Istba'36J-D
North Cent412a 1925 A.0
93
MI
Series A 53 1026 . J4
75
tit)
Series B 58 1926. J4
1
2
834
) Pitt Cu Trac 58 1907 J4
70
Poto Val let 53 1941..J4
72
Say Eria&Weat53'34 A.0
Scab Air L 4s 1960..A-0
Adjust 58 1943.
Saab to Roan 5s 1926.J4
South Bound lit be A-0
9212 93
1st4128'29 bf-N
4 102 'U El
/
1001
Uu Hy& El 1st 4s'49 2.1./3
104 105
J-D
Income 4s 11)49
4
/
101 1011
Funding Os 1936...J-D
Va Mid 3d ger 6s '16.51-8
92
4' 4th set 3.4-56 1921.51-8
/
031
4 973,1 6th series Sc 1926.51-8
1
97/
107 1074, Va (State) Si new'32.34
Fund debt2.3s 1991.21.4
41
/
110 1101
West N con 681014 J4
4 93
/
911
& Weld 5s..19135.J4
Wil
106 107
115
116
4131/4 paid. * $35 paid. a Receipts. 6925 paid. 01130 paid. d
105 107
102 104
96
97
105 10312
104 105
94
96
4 1021
/
11.)11
4
/
106 107
108% 109
4 97
/
961
86
136
99% 100
105¼ 105%
105 1054
112;
107
424 43
1034 1041
4
/
9712 9812
97% 98,
4
9134 994
77
4
1
77/
89
4
/
891
102',
110
110
10212
104
109
67
874
764 76.2
105
105
4 94
/
931
4 85
/
841
8212 62%
66
87
101
104
1064
871
4 8.44
/
87
4
/
881
104 105
110 111
$4834 paid.
522
THE CHRONICLE
Xnuestment and
Lxxxxxii.
Ji) aitroad
RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every STEAM railroad from
which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings
for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including
such
latest
week
or month. We add a suppleme
statement to show the fiscal year totals of those roads whose
fiscal year does not begin with July, but covers some ntary
period. The returns of the electric railways are brought together separatel
other
y on a subsequent page.
Latest Gross Earnings.
ROADS
Week sr
Month.
Curren.
Year.
Previous
Year.
July 1 to Latest Date.
Current
Year.
Previous
Year.
Latest Gross Earn;ngs.
ROADS.
Wee:c or
Monts.
Curren:
Year.
July 1 to Latest Date.
Previous
Year.
CurrJni
Previoue
Year.
Year.
&la N 0 & Tox Pa,
-.
5
.,
3
5
N 0 & Nor East_ July
•.,•
b
5
270,373 276,259
b
270,373
376,353 N Y Ont & Western June
Ala & Vicksburg_ July
798,236
792,859
9,295,702 8,578,782
123,507 134.423
123,507
134,422 N Y Susq 63 Wect..x May
Vicks Shrev& Pa July
340,481 280,241 3,556,859 3,186,068
108,490 135,417
103,490
125,417 Norfolk Southern
Juno
Ala Tenn 63 North_ Juno
358,411
245,503
2.955,071
9,581
3,090,480
7,143
120,194
86,483 Norfolk & Western June
Ann Arbor
2,895,610 3,001,933 35,557.522 35,063,876
2d wk Aug
46,482
41,388
271,691
235,039 Northern PacificJuno
ktch Topeka & S Fe fuiy
5,052,860 6,775,082 64,905,430 74,525,821
3,021,614 8,021,539 8,021,644 8,031,539 Pacific Coast
Co_
Juno
Atlanta Birm & Atl 2d wk Aug
678,156
720,364
7,798,739
7,903,148
55,300
340,292
51,953
316,817 Pennsylvania RR_ June
Atlantic Coast Line ;uno
13031 948 13424 586 157234 108 159960 804
2,332,124 9,194,978 31,622,449 29,810,263
Bait Claes & All.. June
1Baltimore & Ohio_ July
25,054
20.044
270,002
7,321,157 7,547,733 7,321.157 7,547,733
258,579
Cumberland Vail_ Juno
B & 0 Ch Ter stli tune
345,902
363,390
3,037,798 2,068.156
117,211 135,215 1,451,102 1,295,246
Long /stand
June
1,023,966 905,601 10,144,508 9,394,389
Bangor do Aroostook Juno
377,046 227,028 3,173,112 3,090,530
Maryi'd
Del 60 Va June
3osan & Maine__. Tune
10,956
9,848
130,632
125,656
3,863,030 3,664,201 14,815,034 13,357,175
N Y Phila & Nor( Juno
298,708 360,320 3,372,484 3,367,647
3zidgeton & Saco R Tune
4,455
4.923
51,633
51,907
Northern Central. June
Bull Roch & Plttsb_ 3d wk Aug 214,530 316,469 1,480,049
1,005,664 1,016,102 12368,159 12,733,681
1,492,214
phua
Bait
&
w_
June
1,638,354 1,650,411 10,078,476 18,160,57C
3ulTalo 63 Susq____ ,une
213,094 300,947 2,374,320 2,313.437
W Jersey & Seas; Juno
562,130 514,822 6,144.564 5,592,781
)anadlan Northern_ 3d wic Aug 307,500 256,500 2,435,650 1,983,400
4,428.332 5,220,303 51,042,438 53,536,180
)anacitan Pacific__ 3d wk Aug 2,267,000 1,897,000 16,035,000 14,621.000 Pennsylvania Co___ June
Grand Rap 63 Ind Juno
376,135 404,827 5,071,128 5,091,081
Dentral of Georgia... 2d wk Aug 239,900 221,400 1,448.100 1,445,800
Pitts Cin Ch&St L June
3,100,002 3,295,7(6 38,924,315 39,589,162
3entral ot New Jer- May
540,160 2,409.531 36,705,373
Vandalla
•
June
706.285 871,034 10,423,440 9,831,478
3entral Vermont__ lay ----- --354,849 326,269 3,626,827 25,724,404
3,470,425
Total lines-3hes & Ohio Lines_ Id wk Aug 680,556 683,102 3,971,236 3,959.694
East Pitts 63E_ June
18085 995 19445 955
;Menge & Alton... 2d wk Aug 354,470 332,023 1,923,235 1,804,530
West
Pitts
63 E June
9,033,018 10157 739
:alio Burl 63 Quincy June
6,987,389 7,100,474 88,272,208
ALL East 53 Wes Tune
3 Chlo Great West- 2d wk Aug 364,070 279,343 1,461,066 37,360,517
28063 013 30603 694
1,457,406 Pere Marquette-__ July
1,360,877 1,372,510 1,360,877 1,372,510
)hic Ind & Louisv- 2d wk Aug 137,780 144,611
817,203
800,691
Raleign&
)hio Milw & St Paul June
14,150
10,972
5,182,263 5,567,339 84,975,995 84,846.894 Reading Southport Tune
175,675
155,081
CompanyCh Mil & Pug Sd_ June
1.363,852 1,171,592 14,516,367
Pinta & Rea( Ingx May
Chic & North West_ June
4,061,354 4,025,723 41,841,579 41,483,367
8.401,846 6,576,813 74,918,186 74,175,685
Coal
&
Iron Co_ May
Nilo St Paul M h 0 Tune
2,956,714 2,983.331 32,213,430 31,239,235
1,218,446 1,284,377 16,092,851 15,005,023
Total both CO3. May
:fizio T H & South E Juno
7,017,963 7,009,054 74,054,008 72,727.603
131,267 221,321 1,903,979 1,899.410 Ribh Fred
& Potom June
)in Ham & Dayton June
321,507 230,073 2,386,616 2.331,548
836,581 831,022 9,570,382 9.446,524 RID Grande
June_
Colorado Midland__ Tune
May
76,137
78,755
902,278
142,493 180,479 1,914.657
957,150
Colorado & South__ 2d wk Aug 270,031 328,182 1,654,797 2,340,386 Rio Grande South-- 2d wk Aug
10,216
11,400
62,347
74,76 1
1,982,713
Rock
Island
Lines__
Copper Range
Juno
6,140,400 6,040,869 68,487,473 86,230.579
May
53,721
61,148
631,693
676,648
Rutland
June
Cornwall
306,920 379,570 3,437,318 3,208,717
June
15,538
17,378
168,291
303,697 St Jos & Grand Isl.. Juno
Cornwall &Lebanon May
139,735
133,924
1,709,836
25,337
1,637,185
35,336
301,178
400,091 St Louis & San Fran June
Cuba Railroad
3,317,073 3,145,806 43,159,227 41,165,939
June
262,954 226,198 3,059,650 2,559,336
Chic & East III_ June
Delaware & Hudson June
905,481 940,738 12,281,344 11,750,355
1,780,642 1,546,061 20,936,075 10,868,799
f Evansv 63 Ter II June
Del Leek & West__ June
173,977
211,943
2,500,005 2,471,176
3,210,003 3,194,163
36,005.088
Total all lines_
Deny & Rio Grande 3d wk Aug 473,100 503,800 35,947,066
June
4,395,511 4,298.488 58,030,637 55,387,471
3,401,200 3,432,800 St L Rocky Mt & P.Juno
Denver N W & Pac Tune
159,760 180,995 2,098,623 1,974,243
92,153
91,611 1,044,254
973,873 St Louis Southwest_ 3d wk Aug 208,090
Detroit Tol 63 front 2d wk Aug
213,121
1,436,299 1,535,406
36,084
44,459
200,881
232,209 San Pod L A & S L. June
Detroit 63 Mackinac 3d Wit Aug
864,312 488,930 8,433,197 6,092,823
25.317
24,046
147,105
152,692 Seaboard
Line_ 2d wk Aug 375,465 353,667 2,369,493 3,257,748
Out h Iron Range__ bone
859,049 1,392,880 7,362,400 9,530,101 Southern Air
Paola°
Co
June
Dul Sou Shore 63 At 3d wk Aug
10480
737 11294 413 132630 539 135033 607
67,830
81,698
434,734
470,198 Southern Railway_ 2d wk Aug 1,146,306
El Paso & Sou West June
1,130,609 6,945,080
561,348 667.706 7,195.887 7,437,661
Mobile & Ohio__ 2d wk Aug 207,800 203,847 1,300,134 7,047,535
Erie
a May
1,232,708
4.834,975 4,500,138 51,740,311 50,197,299
Cin N 0 63 T Pao_ 2d wk Aug 181,023 177,613 1,105,204 1,002,370
l.alcchild 63 N B._ lone
1.895
1,832
23,423
35,039
Ala
Great South_ 2d wit Aug
Fonda Johns & Glov
78,513
89,846
513,538
- June
524,060
81,945
79,291
940,366
904,751
Georgia Sou & Fla 2d wk Aug
Georgia Railroad__ .tune
41,241
43,954
274,931
377,00C
309,951 193,004 3,210,425 3,020.507 Tenn Ala &
Georgia 1st wit Aug
Grand Trunk Syst- 3d wk Aug 993,677 872,795
2,106
1,862
14,216
11.036
7,397,104 5,650,351 Texas & Pacific__ 3d
wk Aug 249,310 275,070 1,876,500 1,917,533
Grand Trk West_ 1st wk Aug 134,221
67,590
685,726
471,927 Tidewater & West_ Juno
Dot Gr H & Milw 1st wk Aug
9,308
7.746
91,706
43,158
28,888
83,943
214,354
150,040
Toledo
Peor
63
West
1st
18,303
wit Aug
Canada Atlantic_ 1st wk Aug
23,633
120,140
45,560
116,536
35,141
333,349
161,606
St L 63 West 2d wit Aug
97,304
3reat Northern Syst July
95,154
497,135
5,797,765 5,792,462 5,797,765 5,703,402 Toledo
459.117
Tombigbee Valley_ June
7.795
3ulf & Ship Island_ rune
7,463
90,007
155,582 153,956 2,006,790 2,094,076 Union Pacific
80,340
Syst..
June
7,127,602 7,508.953 88,983,108 90,328,093
Flocking Valley-. June
583,570 729,252 7,172,731 7,783,033 Virginia &
So West June
131,830
Illinois Central.... Jul
90,587 1,393,448 1,195.194
4,990.740 4,804,791 4,990,740
Wabash
3d wk Aug 506,609 834,307 4,190.147 4,190,891
3Internet & (it Nor- 3d wit Aug 165,000 156,000 1,044,000 4,804,791
1,142,000 Western Maryland_ Juno
606,953 589,675 7,200,933 7,081,855
t Interoceento Mex.. 2d wit Aug 175,050 161,632 1,059,315 1,029,021
Wheeling & Lake E June
3Iowa Central
590,296 645,191 6,809,707 6,950,437
2d wk Aug
72,897
74,552
385,240
383,794
Falls & NW May
Kanawha & Mich__ June
62,668
52,517
275,418 347,300 3,111,052 3,769.657 Wichita
980,691
538,037
WrIghtsv
&
Tenn_ Juno
3Kansas City South_ July
16,090
15,217
758,988 845,467
328,607
302,287
758,988
845,467
Yazoo 63 Miss Valley July
700,889
K C Mex 63 Orient._ 1st wk Aug
671,619
26,049
33,867
700.889
157,883
671,619
193,221
Lehigh Valley
May
3,519,574 3,180,380 33,999,731 32,915,031
Lexington & East__ June
Current
Previous
51,016
54,392
532,849
484,620
Various Fiscal Years.
Loulslana & Arkan_ rune
Period.
Year.
Year.
98.318 113,740 1,432,638 1,322,761
Loulsv Mend & St L Tune
95,656
96,410 1,214,693 1,176,869 Delaware 63 Hudson
Jan 1 to June 30 10,224,010 59,567,615
r Louisv & Nashv-- 2d wk Aug 1.032.310 1.032,385 6,305,040
6,207,610 N Y Central 63 Hudson River e_ Jan 1 to June 30 48,803,683
Macon & Birm'harn July
46,970,790
10,583
11,570
10,583
11,579
Lake Shore & Michigan South Jan 1 to June 30 22,745,013 33,713,123
Malne Central
June
834,067 775,396 9,067,803 8,922,312
Lake Erie & Western_n
Jan 1 to Juno 30 3,524,167
Maryland & Penna. June
33,410
33,523
438,147
409,230
Chicago Indiana do Southern_ Jan 1 to Juno 30 1,873,846 3,570,381
1 Mexican Railway_ 3d wk July 153,300 172,900
1,925,758
427.600
474,000
Michigan Central
Jan 1 to Juno 30 14,059,414
Mineral Range
2d wk Aug
14,629
87,943
12,915
83,747
Cleve CM Chicago 63 St Louis Jan 1 to Juno 30 14,425,385 13,087,403
Minn 63 St Louis._ 2(1 wit Aug
14,181,268
99,446 101,590
566,430
598,829
Peoria & Eastern
Jan 1 to Juno 30 1,564,274 1,591,758
ilinn St P 63S S M1 2d wk Aug 465,791 452,771 2,968,308 2,811,325
Cincinnati Northern
Jan 1 to Juno 30
Chicago Division)
540,683
589,960
Pittsburgh & Lake Erie
Jan 1 to Juno 30 6,037,207
Mississippi Central_ June
71,527
81,073
915,704
303,010
New York Chicago & St Louis Jan 1 to Juno 30 5,391,305 8,283,619
a Mo Kan & Texas_ 3d wk Aug 519,003 466,007 .3,638,031
5,449,523
3,560,517
Toledo
h Ohio Central
Jan 1 to Juno 30 2,108274 2,165687
Missouri Pacific_ 3(1 wk Aug 1,080,000 1,053,000 7,364,254 7,350,361
Total all lines
Jan 1 to Juno
Nashv Chatt & St-L June
120:)78
'335 121429'790
951,098 1,036,249
11,637,204 Pennsylvania Railroad _ _______ Jan 1 to June 30
I Nat Rys of Mex_t_ 2d wk Aug 1,213,631 1.181,588 12,323,863
30 75,325,681 78,543,873
7,550,049
7,656,967
Baltimore Chesap & Atlantic_ Jan 1 to June 30
Nevada-Cal-Oregon 2d wk Aug
105,258
104,575
5,731
9.421
41,507
50,887
Cumberland Valley
Jan 1 to June 30 1,301,384 1,491,743
Nevada Central____ .Juno
7,394
6,016
84,614
60,096
Long Island
Jan 1 to Juno 30 4,083,394 4,314,003
IN op Great Northern June
143,388 144,858 1,898,723 1,497,649
Maryl'd Delaware & Virginia_ Jan 1 to June 30
isf 0 Mobile 63 Chic_ VVk Aug 12
48,974
47,580
32,818
31,582
202,189
178,658
N Y Philadelphia 63 Norfolk__ Jan 1 to Juno 30 1,508,446
I N Y C So Mud illy June
1,692,579
8.845,348 8,394,092 101748,342 07,568,889
Northern Central
Jan 1 to Juno 30 6,207,802 6,138,270
Lake Shore 63M S June
3,951,967 4,193,794 48,452,124 48,579,016
Philadelphia Bait h Wash__ Jan 1 to June 30 0,119,338 9,062,568
n Lake Erie & W.June
400,621 422,052 5,466,612 5,447,529
West Jersey h Seashore
Jan 1 to Juno 30 3,537,335 2,424.493
Chic Ind & South Juno
292,522 239,315 3,030,755 3,722,387
ia Company.
Jan 1 to June 30 22,639,409
• Michtgan Central. June
2,394.785 2,392,923 29,7(16,823 28,812,497 Pennsylvan
Grand Rapids 83 Indiana__ Jan 1 to June 30 2,345,153 25,767,843
Cleve C 0 & St L_ Juno
2,423,023
2,449,290 2,398,593 30,667,620 39,330,986
Pitts Cincin Chic & St Louis_ Jan 1 to June 30 18,051,613 19,728,877
• Peoria & Eastern June
242,211 279,091 3,508,586 3,283,262
Vendetta
Jan 1 to Juno 30 4,769,995 4.875,028
• Cincinnati North. June
98,893 105,551 1,244,093 1,243,024
Total lines-East Pitts 63 Erie Jan 1 to June 30 106903 530 100373 231
Pitts FC Lake Erie June
1,322,451 1,606,635 15,706,374 17,339,923
' West Pitts & Erie Jan 1 to June 30 49,963,445 34,831,45t
N Y Chic & St L_ June
954,592 818,941 11.181,159 10,854,257
Tol & Ohio Cent_ June
425,685 505,632 5,032,572 4,476,705 Rio Grande All lines E 63 W. Tan 1 to Juno 30 158866 084 164704 681
Junction
Dec 1 to May 31
Tot all lines above Juno
424,148
465,93(
21384 365 21358 019 208771 190 352781 095 Rutland
Jan 1 to Juno 30 1,573,838 1,476,342
i.,/ Y N H 63 Hartf__ June
5,572,860 5,428,182 02,153,434 60,693,667 Texas h
Pacific
Jan 1 to Aug 21 8,809,864 9,348,19fl
AGGREGATES OF GROSS EARNINGS-Waekly and Monthly.
Week.ly Summaries.
Cuent YearlPrev's Year Inc. or Dec.
%
Monthly Summaries.
'Cue* Year Prees Year Inc. sr Dee.
4
5
5
Mileage Curr. Yr. Prev.Yr.I
5
5
let week June (43 roads)._ 12,949,549 13,155,850
3
-203,301
1.57 Ootober
41,215 237,835 363,161,605 260,831,546 +2,643,053
Id week June (43 roads)....... 13.444.268 13,775,015
-330,747 2.40 November_241,273 237.545 243,559,12
Id week June (41 roads)._ 13.605,015 13,716.230
0 247,564,470
+094.650 0.50
-111.215 0.81
December
_211,361 233,030 233,833.301 220,870,151 +15,965.153 7.33
Ith week Juno (46 ma(Iq)._ 18,931,412
+538,373 2.94 January
238,808 215,057,017 210,803,247 +4,248,770
1st week July (43 roads)...... 13.136,803 18,396.034
12,834,623
+302,180 2.36 February ___242,479
_342.640 333.603.193,035,357 203,492,120 -3,453,363 2.01
Id week July (43 roads).- 13,764,631 13,374,761
1.73
+380,870 2.92 March
242,630 233.941 226,997,481 233,336,609 -11,339,128 4.76
Id week July (45 roads)._ 13,803,219 13,471,939
+331,280 3.46 April
343.933 239,132218,177.123 335,700,811 -7,523,688 3.3$
Ith week July (43 roads)._ 19,242.625 18,322,090
+019,624 5.02 May'
-i3,170
334.333,87
4 -4,697.103
239.3571 229,612,771
1st week Aug (43 roads)-- 13,098,504 13,473,619
+534,835 3.90 June
222,825 218,379,215,861,152 222,903,347 -7,103,895 2.0
Id week Aurr (41 rnist151)
, 14.372.84. 13.923.270
0
+449.509 3.23 July _ _
80 873
87.8211 65.8I;i q lA 83.004.818 +3.151.130 3.
3.39
•
a Mexican currency. o Includes tho Now York To Ottawa, the St.
Lait:anee & Adirondack aa 1 the Ottawa to N. Y. fly., the latter
Ieln r a Canadian road, does not make returns to the Inter-State
of w hieh
Coni nem Co nanission. I Taalthiai OvAnivIllo do /nitans. RR.
*nd Lorain 63 Wheeling By, in both years. n Latitudes
ft Includes the Clev 0the Northern Ohio 1111. p Inolules catmints of NI t;la City
Iota h Pantile. s Includes Louisville & Atlantto from July
& Ft. Dodge and Wisconsin Minna1 1900 and the Frankfort & Cincinnati from Nov. 1 1009.
stiJnal from July' 1010.
1
Includes the Mexican Inter.
u Includes the Texas Central. a For Inter-State Commerce
Commission figures for June see "Railway Earnings Seetien".
Lux. 19.
of
1.0
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 41 roads and shows 3.23% increase in the aggregate over the same week last year.
Second week of August.
Increase. Decrease.
1910.
1911.
Alabama Great Southern
Ann Arbor
Atlanta Birmingham & Atlantic
Buffalo Rochester de Pittsburgh
Canadian Northern
Canadian Pacific
Central of Georgia
Chesapeake F6 Ohio
Chicago do Alton
Chicago Great Western
Chicago Indianapolis & Louisv_
Mein New Or! & Texas Pacific
Colorado Fe Southern
Denver & Rio Grande
Detroit & Mackinac
Detroit Toledo & Ironton
Duluth South Shore & Atlantic
Georgia Southern & Florida
Grand Trunk of Canada
Grand Trunk Western_ __ _ _
Detroit Grand Haven& Milw
Canada Atlantic
International & Great Northern
Interoceanic of Mexico
Iowa Central
Louisville & Nashville
Mineral Range
Minneapolis & St Louis
Minn St Paul & S S M
Chicago Division
Missouri Kansas Fe Texas
Missouri Pacific
Mobile & Ohio
National Railways of Mexico_ _
Nevada-California-Oregon
Rio Grande Southern
St Louis Southwestern
Seaboard Air Line
Southern Railway
Texas & Pacific
Toledo St Louis & Western_ _ _ _
Wabash
Total (41 roads)
Net increase (3.23%)
89,846
78,513
41,388
46,482
51,953
55,309
216,469
208,259
233,600
319,700
2,205,000 1,999,000
221,400
239,900
683,102
680,556
332,023
354,470
279,343
264,979
137,780
144,611
181,023
177,613
270,931
328,182
486,300
470,800
25,317
24,946
36,084
44,459
67,830
81,698
41,241
42,954
4,333
5,094
3,356
8,210
86,100
206,000
18,500
14,364
6,831
3,410
57,251
15,500
371
8,375
13,868
1,713
877,152
170,910
152,000
148,000
175,050
161,622
72,897
74,552
1,032,310 1,032,285
14,629
12,915
99,446
101,590
465,791
452,771
4,000
13,428
494,445
484,665
1,015,000 1,063,000
207,800
202,847
1,213,631 1,181,588
5,721
9,421
10,216
11,400
202,352
200,349
375,465
353,667
1,146,806 1,130,609
255,226
263,189
97,304
95,154
581,057
611,076
9,780
1,048,062
14,372,845 13,923,276
1,655
25
1,714
2,144
13,020
4,953
32,043
10,814,711
20,600,985
43,357,174
758,904
861,575
12,052,758
3,934
70,984
31,050
62,320
124,045
845,467
ELECTRIC RAILWAY AND TRACTION COMPANIES.
660,762
449,569
882,183
30,019
211,193
945,774
2,129,710 2,712,000
3,635,716 4,848,755
9,666,379 12,020,852
274,864
284,545
c133,321
c215,709
e3,887,695 c3,577,846
1,339
1,634
33,865
45,265
10,201
27,460
61,204
235,936
Latest Gross Earnings.
Name of
Road.
14,571
31,327
61,363
291,852
169,036
160,693
383,695
276,064
277,679
709,685
550,632
558,039
1,440,034
81,718
103,883
165,339
694,378
1,234,230
404,332
4,786,651 1.513,121 1,392,555
r204,363
5811,676
r189,732
7,081,855 r2,520,704 r2,763,335
INDUSTRIAL COMPANIES.
--NetEarnings
-Gross Earnings
Current
Current
Previous
Previous
Year.
Year.
Year.
Year.
Companies.
$
189,490
182,487
1,359,098
1,279,928
_May
_
b_
Adams Express Co_
14,418,211 14,031,708 1,270.017 2,156,103
July 1 to May 31
21,586
27,445
44,625
37,716
Atlantic City El Co__ _July
Atian Gulf h W I SS Lines210,911
250,359
(Subsidiary Cos) _ __June 1,354,675 1,291,691
8,632,307 8,152,007 1,622,616 1,734,549
Jan 1 to June 30
9,428
20,376
9,771
19,643
July
Canton Electric Co
190,733
173,611
333,765
Eastern Steamship Co_ _July 371,155
191,484
142,335
983,940
886,168
31
Jan 1 to July
170,825
366,902
181,568
341,590
Kings Co El Lt & Pow_ _July
2,708,964 2,448,651 1,358,083 1,280,774
Jan 1 to July 31
7,804
10,746
6,946
July
18,624
Muncie Elco Lt Co
11,431
7,266
July
25,526
24,325
Rockford Eico Co_
52,765
26,510
July
30,250
48,683
Scranton Elea Co
53.083
May 923,458
48,976
817,099
U S Express Co - b
443,751
9,760,311 8,522,494
537,528
July 1 to May 31
a Net earnings here given arc after deducting taxes.
I, Net earnings here given arc before deducting taxes.
c After allowing for outside operations and taxes, operating income for
June 1911 was $165,956, against 394,977, and from July 1 to June30 was
$3,405,426 In loll, against $3,100,998 last year.
g These results are in Mexican currency.
jThe company now includes the earnings of the Atch. Top. Fc Santa Fe
By., Gulf Colo. do Santa Fe By., Eastern By. of New Mexico System,
Santa Fe Prescott & Phoenix By., Southern Kansas By. of Texas, Texas
& Gulf By., G. de I. By. of T. and C. S. S. & L. V. RR. in both years.
For July taxes amounted to $322,580, against $320,209 in 1910: atter
deducting which, net for July 1911 was $1,881,546, against $2,496,201 last
year.
r After allowing for miscellaneous receipts and net from coal and other
departments, total net earnings for June 1911 were $224,175, against
$238,593 In 1910: and from July 1 to June 30 were $2,940,190 in 1911,
against $3,273,745 in 1910.
INDUSTRIAL COMPANIES.
-Int., Rentals, &c.- -Bat, of Net Earns.
Previous
Current
Previous
Current
Year.
Year.
Companies.
Year.
Year.
$
$
$
$
17,023
20,171
4,563
7,274
Atlantic City El Co_ _ July
Atlan Gulf do W I SS Lines76,228
48,210
June
183,131
162,701
(Subsidiary Cos)
730,972
673,280
949,336 1,003,577
Jan 1 to June 30
6.315
6,370
3,058
3,456
Canton Electric Co_ __ _July
64,372
18,796
122,772
106,453
Kings Co El Lt & P_ _ _ _July
563,624
560,489
797,594
717,150
Jan 1 to July 31
2,567
6,168
4,379
July
1,636
Muncie Elec Lt Co
1,507
5,759
7,029
July
4,402
Rockford Elec Co
15,747
12,677 . 10,763
17,573
July
Scranton Elec Co
3,700
1,184
2,003
21,798
16,197
7,963
2,150
8,021,539 52,204,126 52,766,500
7,547,733 2,245,699 2,123,843
3,492,349
-Int., Rentals, &c.- -Bat. of Net Earns.
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
$
$
$
x155,250 x180,581
178,186
174,249
Buffalo Roch & Pitts__ _July
Greenwich & Johnsonvillex1,187
z293
13,964
10,198
Apr 1 to June 30
x6,041
x4,406
26,181
23,709
Jan 1 to June 30_
x10,931
z13,654
51,815
48,866
July 1 to June 30
Lehigh & Hudson River94,205
73,187
74,831
87,506
Apr 1 to June 30
123,680
116,839
152,384
Jan 1 to June 30
160,840
245,172
244,263
305,460
July 1 to June 30
313,776
Roads.
After allowing for other income received.
48,000
-Gross Earnings- -Net Earnings
Previous
Current
Previous
Current
Year.
zar.
Year.Ye
Year.
Atch Top & S Fe_b_ __July 8,021,644
Baltimore h Ohlo_b_ _ _July 7,321,157
Boston & Albany_ b3,693,471
April 1 to June 30
Boston & Maine- b11,247,505
Apr 1 to June 30
21,285,301
Jan 1 to June 30
44,815,083
July 1 to June 30
Buffalo Roch & Pitts_b_July 822,232
Central of Georgia_ b_ _ _June 889,826
July 1 to June 30
12,907,788
Chesterfield & Lancas_ _June
4,269
July 1 to June 30
82,179
Greenwich & Johns_ b26,574
Apr 1 to June 30
58,951
Jan 1 to June 30
117,484
July 1 to June 30
758,988
Kansas City South'n_b_July
Lehigh & Hudson River_ b401,888
Apr 1 to June 30
741,737
Jan 1 to June 30
1,465,796
July 1 to June 30
195,012
_July
_a_
North
West
gilexico
940,805
Jan 1 to July 31
Southern Rallway_b_ _ __July 4,797,307
Western Maryland_a__ _June 605,952
7,200,933
July 1 to June 30
Interest Charges and Surplus.
2,546
22,447
Net Earnings Monthly to Latest Dates.-The table following .shows the gross and net earnings of STEAM railroads
and industrial companies reported this week:
Roads.
523
THE CIIRONICLE
AUG. 26 1911.]
Week or
Month.
Current Previous
Year.
Year.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
359,547 337,404 1,942,883 1.842,144
American Rys Co_ _ _ _ June
111,339
103,385
26,660 25,357
Atlantic Shore Ry___ May
738,770
801.217
161,382 151,851
cAur Elgin do Chic Ry June
255,306
264,649
49,580 45,707
Bangor Ry & Elec Co June
52,081
9,869
56,172
8,942
Baton Rouge Elec Co June
167,551
179,957
33,517 32,269
Binghamton Railway June
224,086 218.255 1,134,227 1,069,376
flirm By, Lt & Pow_ May
49,439
10,418
10,973
50,514
Brock & PI m St By June
1835,006 1735,105 6,977,751 6,601,890
Bklyn Rap Tran Sys.. April
147,548
27,427 25,755
152,135
Cape Breton Elec Co_ June
145,064
20,024
21,981
165,189
Carolina Pow & Lt Co July
190,879
191,437
50,026 53,036
Cent Pk N F6 E Riv__ April
393,747
413,874
76,324 73,952
Central Penn Trac__ _ June
408,428
445,955
77,910 72,714
Chattanooga Ry do Lt June
153,578
163,717
35,765 33,261
Cleve Painesv & East June
575,668
628,811
108,644 101,492
Clev Southw & Col__ July
235,584
212,932
39,554 37,294
Columbus (Ga) El Co June
392,301
404,564
110,399 106,794
Coney Island & Bklyn April
682,282
768,949
122,110 114,514
Dallas Electric Corp_ June
Detroit United By.._ _ 4th wk July 296,808 278,122 5,675,194 5,237,267
199,690
196,016
50,656 51,887
DDEB & Batt(Rec) April
511.641
535,077
96,225 95,340
Duluth-Superior Trac June
185,736 200,553 1,091,720 1,119,353
East St Louis do Sub.. June
309,238
334,035
52,470 45,224
El Paso Electric_ _ _ _ June
269,775
336,325
64,512 51,057
Fairm & Clarks Tr Co June
421,828
464,268
125,222 111,974
42dStM&SNAv (Rec) April
609,130
712,292
134,934 109,083
Galv-Houston El Co_ June
530,823
553,360
101,647 99,952
Grand Rapids By Co June
Wk Aug 20 47,093 43,225 1,501,700 1,368.771
Havana Elec Co
Tran
Rapid
Honolulu
221.557
240,219
42,767 37,866
June
de Land Co
150.995
144,468
26,940 26,751
Houghton Co Trac Co June
375,870 324,169 2,290,153 1.967,378
Hudson & Manhattan June
535,849 478,733 3,249,989 2,844,496
Illinois Traction Co.._ June
2822,791 2571.716 13,117,583 12.741,758
Interboro Rap Trans_ May
237,059
245,427
47,625 46,720
Jacksonville Elec Co.. May
526,728
558,586
113,950 103,533
Lake Shore Elec Ry_ June
49,975
53,681
14,653
14,935
April
Electric..
Long Island
1120.081 1099.835 4,314.224 4,223,785
Metropolitan St(Bee) April
418,823 388,174 2,401,314 2,249,473
Milw El By & Lt Co.. June
457,094
489,332
103,839 96,072
MIlw Lt, lit & Tr Co.. June
437,771 398,847 2,746,649 2,464,204
Montreal Street Ry__ July
887.954
952,118
157,570 157,427
Nashville Ry dc Light June
3,337,433 3,142,294
New Orleans By & Lt June
62,802
18,494
85,435
22,936
N Y City Interboro__ April
91,888
105,477
27,543
30.716
April
Tr
Island
N Y do Long
300,656
346,839
96,757 84,230
N Y & Queens County April
765,607
826.450
171,813 160,492
Nod & Portsm Tr Co May
63,791
15,185 14,505
Northam Easton & W May
15,829
19,709
No Caro Pub Serv Co June
278,431 262,020 1,501,106 1,349,355
North Ohio Trac & Lt July
677,620
775,004
136,061 120,964
North Texas Elec Co.. June
176,820 181,760 1.101,680 1.096.218
Northwest Elev Co__ June
15,326
13,691
4,917
4,734
Ocean Electric (L I)_ April
289,313
301,207
57,105 61,397
Oklahoma City Ry__ June
119,370
126,482
20,647 19,740
Paducah Tr dc Lt Co_ June
127,786
21,762
24,741
138,848
Pensacola Electric Co June
1856,816 1771,955
Phil& Rap Trans Co.._ July
554,767 478,879 3,114,812 2,645,612
Port(Ore)Ry,L dcPCo. June
761,475
712,456
148.828 169,190
Puget Sound El Co__ May
86,352
91,548
24,488 23,324
Richmond Lt & RR.. April
Rio de Janeiro Tram
1145,938 980,339 7,253,711 6,023,076
Light & Power Co_ July
St Joseph (Mo) Ry.L1
530,322
494.015
95,021 85,401
Heat & Power Co__ June
283,441 243,615 1,967,694 1,631,040
Sao Paulo Tr, L & P_ July
300,574
330,264
59,927 53,610
Savannah Electric Co June
433,701 447,676 2,699,612 2,736,190
Seattle Electric Co__ June
254,685
246,399
68,756 67,072
Second Avenue (flee) April
33,396
29,913
8,486
9,194
Southern Boulevard_ April
93,381
85,290
16,240
18,318
June
Sou Wisconsin Ry Co
60,856
63,818
17,625 17,226
Staten Is! Midland__ April
312,384
334,784
56,812 49,895
Tampa Electric Co__ June
289.753 291,206 1,131,015 1,139.545
Third Avenue (Bee)- April
33,225
Toledo Rys do Lt Co.. 2d wk Aug 34,591
401,186 364,795 2,246,040 2,037,653
June
Toronto By Co
210,899 202,329 1,522,320 1,395,854
Tr -City By & Light.. July
Twin City Rap Tran_ 2d wk Aug 149,135 148,956 4,782,976 4,554,699
Underground El Hy
of LondonThree tube lines_ _ _ Wk Aug 19 £9,540 £10,270 £455,375 £424,374
Metropolitan Dist_ 1,Vk Aug 19 £8,723 £9,114 £387,563 £358,464
United. Tramways_ Wk Aug 19 £7,321 £7.631 £220,131 £210,644
611,475
668,414
181,333 164,716
April
Union (Itec)
237,408 219,137 1,518,456 1,431,020
UnionRy,G&EC0(I11) June
1016,759 988,080 6,841,998 6,590,144
United Rys of St L__ July
627,461) 605.189 3,821,135 3,754,861
United flits of San Fr June
135,378
164,171
45,142 37,627
Westchester El (Bee) April
200,380
184,619
29,385 30,460
Whatcom Co Ry & Lt June
198,500
54,214
Yonkers RR (Rec)__ April
92,624
108.164
16,577
19.840
Youngst & Ohio Riv_ June
c These figures are tot consolidated company.
524
THE CHRONICLE
• Electric Railway Net Earnings.-The following table gives
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Aug. 5.
-Gross Earnings
Current
Previous
Year.
Year.
$
$
Brooklyn Rapid Transit-6Jan 1 to Mch 31
5,142,746 4,866,796
July 1 to Mch 31
16,571,238 15,800,963
Carolina Pow & Lt Co_ _July
21,981
20,024
Jan 1 to July 31
165,189
145,064
Chautauqua Traction_ bJuly 1 to June 30
176,207
165,762
Cleve Southw & Col_ b_ _July
108,644
101,492
Jan 1 to July 31
575,638
628,811
Coney Island & Brooklyn_aJan 1 to Mch 31
285,507
294,165
July 1 to Mch 31
1,122,189 1,085,904
Honolulu RT & Land.b_June
37.866
42,767
Jan 1 to June 30
221,557
240,219
Illinois Traction Co_a_ _June
535,849
478,733
Jan 1 to June 30
3,249,989 2,844,496
Metropol St By tRec)- bJan 1 to Mch 31
3,194,142 3,167,745
July 1 to Mch 31
10,107,551 10,011,560
Montreal Street Ry_b_ _July
437,771
398,847
Oct 1 to July 31
3,876,711 3,490,646
N Y & Long 1st Trac Co-aJan 1 to Mch 31
74,761
64,345
July 1 to Mch 31
285,474
258,743
N Y & Queens County-aJan 1 to Mch 31
250,082
216,427
July 1 to Mch 31
865,397
738,508
City
Y
N
Interborough-aJan 1 to Mch 31
62,498
44,307
July 1 to Mch 31
191,964
137,951
Nor Caro Pub Ser Co_a_June
19,709
15,829
July 1 to June 30
234,318
Nor Ohio Trae 80 Lt_a_ _July
278,431
262,020
Jan 1 to July 31
1,501,106 1,349,355
Northwestern Penn__ __July
22,338
18,665
Feb 1 to July 31
84,369
66,705
Philadelphia Company a July 1,530,108 1,620,949
Apr 1 to July 31
6,625,333 6,740,544
Phila. Rap Tran Co
July 1,858,816 1,771,953
Rio de Jan Tr, L F0 P_a_July 1,145,938
980,339
Jan 1 to July 31
7,253,711 6.023,076
Sao Paulo Tram, I. & P aJuly
283,441
243,615
Jan 1 to July 31
1,967,694 1,631,040
Schenectady Ry_ I,
Apr 1 to June 30
300,065
294,558
Jan 1 to June 30
566,309
546,069
July 1 to June 30
1,161,600 1,059.419
Staten Island Midland _aJan 1 to Meh 31
46,192
43,831
July 1 to Mch 31
199,236
184,508
Syracuse Lake Shore & Nor.,
Apr 1 to June 30
101,907
88,179
Syracuse Rap Tran Co_ bApr 1 to June 30
400,116
377,896
Jan 1 to June 30
782,088
736,250
July 1 to June 30
1,591,681 1,478,131
Third Avenue (Bee)-aJan 1 to Mch 31
841,262
848,330
July 1 to Mch 31
2,825,458 2,463,579
United Rye of St L_a _ _ _July 1,016,759
988,080
Jan 1 to July 31
6,841,998 6,590,144
Utica & Mohawk Val_ bApr 1 to June 30
334,399
311,029
Jan 1 to June 30
627.290
588,194
July 1 to June 30
1,296,716 1,198,422
Roads.
Roads.
[VoL.
-Int., Rentals, &c.
Current
Previous
Year.
.Year.
5
Third Avenue (reelJan 1 to Mch 31
97,553
108,169
July 1 to Mch 31
301,731
298,053
United Rys of St Louis_ _July
228,312
233,002
Jan 1 to July 31
1,605,560 1,632,317
Net Earnings
Utica
Mohawk
Fc
Valley
Previous
Current
Apr 1 to June 30
73,854
73,408
Year.
Year.
Jan 1 to June 30
• 147,006
147,273
$
$
July 1 to June 30
294,215
296,285
1,740,434 1,699,083
x After allowing for other income received.
6,660,680 6,238,174
4,685
7,990
59,787
56,236
51,221
50,694
268,630
69,491
45,926
230,738
68,416
355,339
19,929
113,951
191,073
1,213,478
58,168
327,105
18,497
104,328
179,511
1,109,542
1,089,224
3,894,616
206,703
1,630,504
13,673
88,255
def.39,023
def.12,890
5,217
30,327
7,514
91,149
137,428
663,081
11,214
27,171
535,234
2,600,215
712,049
615,796
3,741,579
173,056
1,233,522
117,309
219,238
478,137
def6,210
41,815
-Bat. of Net Earns.Current
Previous
Year.
Year.
259,699
x841,925
x104,898
x539,620
x268,227
x778,372
x96,212
x384,265
x77,778
z130,524
x301,126
x54,980
x87,457
x196,067
ANNUAL REPORTS.
Annual Reports.-The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since July 29.
RailroadsPage.
IndustrialsBangor & Aroostook RR.(preliminAmerican Cement Co
466
ary statement)
406 American Glue Co., Boston
343
Buffalo Rochester & Pittsburgh By.
American Pneumatic Service Co
468
343, 351
American Smelting & Min. Co_284, 291
Canadian Pacific By. (preliminary
American Smelters Securities Co.283, 293
466 British Columbia Packers' Assn.
statement)
899,495
283
(Balance sheet June 30)
466
3,291,718 Chicago & Western Indiana RR
Colorado & Southern By. (preliminCanadian General Elec. Co., Toronto 467
183,623
ary statement)
283 Calumet & Heels Mining Co
284
1,469,130 Duluth South Shore de Atlantic By.
Canton(Land) Co., of Baltimore,Md. 468
(preliminary)
407 Cleveland & Sandusky Brewing Co__ 467
7,964 Grand Trunk By.(6 mos. partly est.) 469 Detroit Edison Co.(6 mos.)
288
86,865 Louisiana & Arkansas By.(prelimin(E. I.) du Pont de Nemours Powder
ary statement)
469
Co. (6 mos.)
288
Electric Properties Co
487
def.26,727 Louisville Henderson & St. Louis By.
(preliminary statement)
405 Federal Sugar Relining Co., N. Y.
30,553 Missouri
.Kansas & Texas Ry. (pre(17 mos. ending July 31)
466
llminary statement)
343 General Chemical Co., N. Y.(6 mos.) 348
def.2,372 New York Ontario & Western By.
General Motors Co. (statement to
def.2,628
(preliminary statement)
343
New York Stock Exchange)
413
6,228 Norfolk & Western By.(preliminary
Inland Steel Co. (preliminary statestatPment)
405
ment)
343
International Paper Co., N. Y.(pre130,082 Pre Marquette RR. (preliminary
283
liminary statement)
406
593,187 St.statPment)
Louis & South Western By.(preLaclede Gas Light Co.(6 mos.)
289
8,707
Ilminary statement)
343 Maritime Coal, Ry. & Power Co.,Ltd. 344
18,072 Seaboard Air Line By. (preliminary
Niagara Falls Power Co.(6 mos.)___ 349
statement)
698,520
466 Niagara Lockport & Ontario Pow.Co. 474
3,040,309 Southern Pacific By. (preliminary
Nipissing Mines Co
468
statement)
405 Pillsbury-Washburn Flour Mills Co.,
689,753 Underground
Elec. By. of London
Ltd
205
492,529
(6 mos.)
470 Pioneer (Bell) Telep. dc Teleg. Co__ 467
2,877,281 Union Pacific RR (preliminary
Pittsburgh Oil & Gas Co
344
statement)1
405 Republic Iron & Steel Co.. Youngs.
153,158
Electric Railwaystown, Ohio
405
1,038,429
Boston Elevated By. (preliminary
Texas Pacific Land Trust
344
statement)
406 Topeka (Kan.) Independent Tele122,807 Virginia Railway de Power Co.
(prephone Co. (6 mos.)
290
202,360
liminary statement)
409 U. S. Steel Corporation (6 mos.)____ 284
420,285
•
U. S. Worsted Co.(bal. sh. July 1).._ 487
Virginia-Carolina Chemical Co.,Richdef2,074
mond, Va
284
40,399
25,216
149,037
274,343
538,335
117,193
236,973
445,324
357,252
1,137,243
329,921
2,118,387
375,382
1,068,901
325,264
1,991,798
This index, which is given monthly, does not include
reports in to-day's "Chronicle."
Buffalo & Susquehanna Railroad and Railway.
(Statementfor Fiscal Year ending June 30 1911.)
Receiver H. I. Miller has favored us with the following:
INCOME ACCOUNT.
RR.48 %wks.Ry.52 wks Both Roads-Years end. June 30.
to June 30 to June 30
1911.
1911.
1909-10. Increase.
1910-11.
Avge. miles oper __
265.25
107.80
373.05
360.89 dec.12.16
151,246
127,726
Revenue
276,755
233,405 Freight __ .
$1,538,332
$542,319
$2,070,182 $1,910,787 $159,395
593,406
489,440 Passenger
99,130
110,937
210,067
217,942 D.7,875
Excess baggage893
412
1,305
1,200
96
a Net earnings here given are after deducting taxes.
Parlor car
420
46
466
464
2
b Net earnings here given are before edducting taxes.
Mall
6,452
10,556
17,009
16,983
26
Express
4,297
14,218
Interest Charges and Surplus.
9,922
14,219
Milk (pass.trains)_
10,654
10,656
1
11,026 Dec.370
-Int., Rentals, &c.
- -flat. of Net Earns.
- Other pass. rev_ _ _
119
563
444
305
258
Current
Previous
Current
Previous
Switching
722
9,738
9,017
13,188 Eec.3,450
Roads.
Year.
Year.
Year.
Year.
Special
1,480
404
1,076
506
973
5
Brooklyn Rapid TransitTotal transp'n_ _31,669,417 $676,736 $2,335,684 $2,186,829 $149,054
Jan 1 to Mch 31
1,888,908 1,870,780 xdef43,092 xdef78,811 Car service
2,547
6,476
3,920
6,011
465
July 1 to Mch 31
5,709,397 5,614,451 x1,272,400 x929,049 Rent bldgs., &e.._ _
30,518
2 496
28,021
10,011
20,507
Chautauqua Trae CoMiscellaneous
352
1,642
1,291
9,785 Dee.8.143
July 1 to June 30_ .__
78,140
70,600 zdef2,396
def1,109
Total oper. rev_31,702,658
$682.131 52,374,320 $2,212,437 $161,883
Clev Southw & Col
July
30,240
29,794
x21,060
x16,825
Operating ExpensesJan 1 to July 31
210,516
208,557
x62,823
z27,029 Malnt. way de struc $308,692
379,826 $388,518 $400,034D.$11,516
Coney Island de BklynMalnt. of equIpm't 327,681
342.508
670,189
685,507 D.15,315
Jan 1 to Mch 31
81,565
73,177 zdef4,631 zdef16,976 Traffic expenses__
8,526
29,784
21,258
25,844
3,940
July 1 to Mch 31
226.190
215,667
x146,857 z112,582 Transport'n exp.. 821,595
288,664
899,790
29,649
870,141
Honolulu R T & Land.. June
General
expenses__
33,211
101,390
68,179
6,633
5.710
x13,903
95,219
x13,426
6.171
Jan 1 to June 30
39,382
38,100
x77,427
x69.723
Total oper. exp_31,347,405 5752,735 $2.089,671 $2,076,745 $12,926
Metropolitan St By (rec)Net oper. rev_ _ - $355,253 def.$70,604 $284,649 $135,692 $148,957
Jan 1 to Mch 31
980,758
x160,910
z25,716 Outside open, def.
.
429
Dec.83
429
346
July 1 to Mch 31
2,948,206
x1,110,364 z561,881 Taxes
18,729
29,271
48,000
48,000
Montreal Street By
July
72,088
58,459
134,615
125,164
Oct 1 to July 31
475.973
419.546 1,154,531 1,049,584
Oper. Income__ _ $325,982 def.$89,782 $238,220
$87,346 $148,874
Other IncomeN Y & Long Island Tr CoJan 1 to Mch 31
$361,304 $220,201
5141,405 578,706
15,753
15,058 zdef1,943 zdef7,033 Hire of equipment_
July 1 to Mch 31 ,
732
732
732
49,838
48,003
x38,805
x38,759 Joint facil-rents_
Miscellaneous rents
11,451
257
108
758
865
N Y & Queens CountyInterest
5,056
9,315
301
14,069
14,370
Jan 1 to Mch 31
64,092
62,888 def103,115 zdef90,179
July 1 to Mch 31
189,961
187,876zdef203,594zdef159,606
Inc_
_
Total other
316,507 $371,608 $236,168 $142,636 $93,532
N Y C InterboroughGross Income
5229,982 $242,406
$342,489 $281,846 $472,388
Jan 1 to Mch 31
23,013
Deduct20,840 zdef17,616 zdef22,939
July 1 to Mch 31
70,533
._ $12,403
72,420 zdef39,253 xdef74,374 Hire of equipment $153,507
$12,403
39,199
No Caro Pub Serv Co__ _June
20,610
18,562
Dec.28
39,171
2,014
5,500
4,166
2,062 Joint facilities__ _ _
Miscellaneous rents
July 1 to June 30
2,334 Dec.442
349
12,385
1,892
37,149
54,000
Int. recelvers's ctf.
13,343
058
42,461
29,118
41,502
Nor Ohio 'Frac de Lt_ __ _July
44,321
93,107
86,725
43,357
Jan 1 to July 31
310,428
352,653
303,273
289,914
Total deductions 3187,809
$42,491 $53,435
360,065
$95,927
Philadelphia Rap Tran_July 737,289
734,241 def25,240 def44.488 Net Income
$154,680 $221,781
5187,491 5188,970
$376,461
Compare V. 92, p. 1558, 590.
Schenectady RailwayApr 1 to June 30
37,710
x82,409
z88,773
36,737
Jan 1 to June 30
75,216
73,693 x149,941
x134,435
American Agricultural Chemical Co.
July 1 to June 30
143,177
x346,541
139,344
x293,066
(Report for Fiscal Year ending June 30 1911.)
Staten Island Midland-Jan 1 to Mch 31
13,708
13,618 zdef19,828 zdef15,692
INCOME ACCOUNT.
July 1 to Mch 31
41,229
z1,091 zde12,273
1910-11.
Syracuse Lake Shore & Nor1909-10.
1908-09.
1907-08.
ProfitsfromApr 1 to June 30
5
29,730
28.052
10,668 zdef2,716
Properties owned and
Syracuse Rap Tran Cocontrolled
3,587,223
x3,256,056
3,018,148
2,782,275
Apr 1 to June 30
74,258
95,716
x75,319
x21,837 Other sources
180,502
y174,180
165,527
155,644
Jan 1 to June 30
172,794
191,741
x102,101
x45,727
July 1 to June 30
365,859
382,630 x173,609
x63,684
Total income
3,430,236
3,767,725
3,183,675
2,937,919
THE CHRONICLE
AUG. 26 1911.]
1910-11.
Less general reserve_ _ _ _
Reserve for fire insuence
Charged off for improvements, better'ts, &c.._
Total
Profits
6% on preferred stock
Surplus
1909-10.
1908-09.
1907-08.
650,319
100,000
759,851
100,000
528,407
260,770
393,751
750,319
2,679,917
1,143,114
859,851
2,907,874
1,137,654
789,177
2,394,498
1,116,957
781,042
2,156,877
1,115,610
1,536,803
1,770,220
1,277,541
1,041,267
387,291
z After deducting $444,953 (interest on bonds), other interest charges
and repairs and renewals. y Other income includes interest accrued on
loans to Charlotte Harbor & Northern By.
BALANCE SHEET JUNE 30.
1909.
1910.
1911.
Assets$9,586,174 $8,175,769 $7,925,512
Land, buildings and machinery
940,489
957,043
1,040,467
Lighters, tugs, tools, &c
1,152,583
1,865,747
Charlotte Harbor & N. By. invest'mt 2,538,844
4,283,476
3,883,476
3,885,912
Phosphate properties
871,974
770,085
1,102,465
Other investments
15,651,547 15,984,869 16,351,056
Brands, trade-marks, patents, &c
534
668
Sinking fund (amt. unexpended)_ _ _ _
11,672,047 11,675,418 11,044,873
Accounts receivable
2,943,628
2,094,924
3,698,209
Bills receivable
7,800,390
4,729,408
4,804,713
Merchandise and supplies
Expenditures chargeable to future
122,222
254,024
163,324
oper., unexpired basun, taxes, &c_
73,209
Payments on goods in transit
40,400
Exp. for new work not yet completed
1,313,776
1,079,614
Cash in bank, on hand and in transit.. 1,574,693
Total assets
LiabilitiesStock, common
Stock, preferred
Acc'ts payable, accr'd int. & taxes
First mtge. convert, gold bonds
Bills payable
General reserve
Res've for renewals, fire ins., &c
Profit and loss, surplus
Total liabilities
$58,805,440 $52,302,124 $50,945,998
$16,991,300 $16,991,300 $16,991,300
19,206,400 19,013,400 18,826,400
900,194
806,558
977,514
7,573,000
8,000,000
11,087,000
a2,345,000
1,100,000
553,740
980,082
876,129
442,682
473,040
606,644
5,468,697
5,231,682
b6,605,500
$58,805,440 $52,302,124 $50,945,998
a All paid in July. b After deducting $400,000 for depreciation of
brands, trade-marks, patents, good-will, &c.-V. 93, p. 287, 231.
United States Glass Co., Pittsburgh, Pa.
(Report for Fiscal Year ending June 30 1910.)
President J. A. Knox, Pittsburgh, Aug. 21 1911, wrote:
Improvements.-The various sprinkler systems, new water tanks, &c.,
have been completed. Also all the factories have practically been equipped
for the economical use of oil for fuel as an auxiliary to natural gas. While
While this installation was about complete early last fall, we were fortunately able to secure sufficient natural gas for fuel during the past winter.
General Results.-A company as extensive as ours occasionally suffers a
series of misfortunes which no oversight could forestall; such during the
last quarter of the fiscal year was our loss of production and heavy charges
for extraordinary repairs.
The earning power of the new factory "0" at Glassport has not been
reflected in the last fiscal year, as we were unable to commence operations
unti early in March. The same condition holds good relative to the enlargement of the cutting shop at factory "R," Tiffin, 0. We expect,
however, that these additions will show a very satisfactory return the
coming year.
The production during the year has increased 5,264,266 lbs., or approximately 12% in excess of that of last year, while a comparison excluding
factory "0" at Glassport shows an increase of 8%. The sales have steadily
grown, showing a decided increase over the preceding year; June shows the
largest net shipments for that month since the company was formed.
The extraordinary expenditures for replacements, renewals, &c., have
all been charged to "expenses," and nothing has been carried to "cost of
property works, &c.,' except such items as constitute new assets. The
increase in property, works, &c., consists principally of cost of new factory
at Glassport and new cutting shop at Tiffin, The increase in floating debt
has been invested in cost of property and works, inventories and accounts
receivable. Non-interest-bearing notes have been reduced by $21,000, and
within the next 18 months these items will have ceased to be a liability.
Surplus.-A comparison of the surplus June 30 1909-the date of election
of present board-with June 30 1911, shows an increase of approximately
$10,000, and during this period there has been earned and paid in dividends
$192,000, and in addition thereto large amounts have been spent for extraordinary repairs, replacements of improved machinery, &c
The real estate at Glassport is a very valuable asset. Development up
the Monongahela River is yearly enhancing the value of this holding, and
with any reasonable improvement in the condition of business, there ought
to be a substantial demand for it at a handsome profit.
RESULTS FOR FISCAL YEAR ENDING JUNE 30,
1910-11.
1909-10.
$141,239
$114,717
Gross profit for year
25,116
28,183
Less extraord. exp., replacements, renewals, &c)
525
The controversy with the Tuolumne Company was amicably settled on
Nov. 28 1910.
(Recent work in the Snowball claim, President Hoatson states, has disclosed a vein which gives every promise of producing a large amount of
high-grade ore.]
Production.-On account of the condition of the copper market during the
entire year, our mines have been operated at about 80% of their normal
capacity. During the year there were shipped 419,710 wet tons of ore
and there were treated at the smelter 408,528 dry tons of ore of which
38,043 dry tons, or 9.3%, were first class, and 370,485 dry tons, or 90.7%,
were second class. This ore produced 25,267,092 lbs. of fine copper,
988,190.54 ozs. of silver and 1,195.99 ozs. of gold.
Abstract from Report of Gentral Manager John D. Pope, April 15 1911.
Ore.-The 408,528 tons of dry ore mined in 1910 and the ore reserves;
958,680 tons, in sight on Jan. 1 1911, in our various stopes and levels.
included (tons):
Mines. Res'ves.
Mines. Res'ves.
Edith May vein_ _243,986 577,790 South Gem vein__ 12,290 27,955
Jessie vein
6,604 24,880
104,590 328,055 Miscellaneous
The aforesaid ore reserves show an average assay value of 4.25% copper
and 3 ozs. silver per ton.
Our development work for the year, in addition to the sinking of the
Speculator shaft and upraising the Granite Mountain shaft, was done on the
Jessie vein and in the Gem and Croesus claims. In the Jessie vein we have
opened up a large body of ore on the 2,000 level and a good amount of ore
on the 2,200 level, while the work on the 1,800 level has slightly increased
the reserves on this level in spite of the fact that this level was supposed to
be fairly well prospected and that we have mined about 40,000 tons from its
stopes during the year. The work in the Gem and Croesus claims, while it
has not shown any large bodies of ore, has shown several fair sized veins
carrying a good grade of ore, and the further prosecution of this work and
of work in the Berlin group should result in important additions to our
reserves. With the development work already done and with a showing
of high grade ore in the bottom of the Speculator shaft, and a large undeveloped area, I can see no reason why we should not expect as good results in
the future as we have had in the past. In view of the above conditions,
the fact that we have maintained less than 1,000,000 tons of ore "in sight"
is not significant, for we expect during the ensuing year to develop additional ore tonnage at least equal to output. It is not advisable to open too
much territory in advance of stoping operations, for scuh procedure entails
heavy additional expense in the way of maintaining the openings.
PRODUCTION OF COMPANY (CALENDAR YEARS.)
Silver.
Gold.
Period- Copper Produced. Price per lb.
12,7710 cts.
988,190 oz.
1,195.99 oz.
1910
25,267,092 lbs.
1,302.46 oz.
13.1133 eta.
1,048,272 oz.
33,102,153 lbs.
1909
RESULTS FOR YEAR ENDING DEC.31.
1910.
1909.
1910.
1909.
ExpensesReceiptsSale of cop., ecc_5,789,493 4,074,491 Oper. expenses_3,132,011 2,956,122
20,142
Interest
8,207 Gen.exp.,tax.,&c. 40,654
6,486
10,242
Miscellaneous
183 Construction ___
Dividends'
446,000 1,600,000
Total
3.789,493 4,082,881
Tot. expenses 3,625,151 4,586,506
Bal. for year _sur.164,342def.503625
• 7 1-3% in 1910 and 26 2-3% in 1909.
BALANCE SHEET DEC. 31.
1910.
1910.
1909.
1909.
AssetsLiabilitiesMining property 7,381,188 7,221,182 Capital stock__ _6,150,000 6,000,000
562
1,932
Furniture & fix's
1,717 Divs. unclaimed
2,061
167,354
126,304
62,466 Acc'ts payable__ 123,078
Cash
325,483 Surplus
Acc'ts receivable 252,728
1,677,202 1,512,861
28,880
Supplies at mine 46,889
Acc'ts in suspense 102,250
7,952,341 7,639,728
Total
-V. 92, p. 1181.
Total
7,952,341 7,639,728
Fore River Shipbuilding Co.
(Report for Fiscal Year ending Dec. 31 1910.)
Pres. Francis T.Bowles,Quincy,Mass., Feb. 14 1911,wrote:
Considerable additions to plant and machinery were made during the year.
These improvements included a fireproof concrete office building, new
turbine generating set and boiler for power plant, hydraulic presses for the
shipyard, a yard office building, extension to shipbuilding structure, a
small tract of real estate where present office building is located, and a
considerable addition to the equipment of the machine shop. All items
of repair and maintenance to plant have been charged to current expense
and $120,000 has been charged off for depreciation and the surplus has
increased by $142,000. There are no notes payable.
The following vessels were under construction on Dec. 31 1910: Argentine
battleship, Rivadavia, two submarine torpedo boats, two torpedo boat
destroyers, one steel fishing vessel, one steel freight and passenger steamer
and one steel seagoing suction dredge. Turbine machinery for vessels other
than those now building in the shipyard is under construction amounting
to 90,000 h. p. During the year there have been completed and delivered
one submarine torpedo boat, battleship North Dakota, two torpedo boat
destroyers, two steel freight steamers, one steel steam yacht, three steel
molasses barges, one steel steam lighter, two steel fishing vessels and two
steel carfloats.
The average number of employees for the year was 3,022. The force
$89,601
$113,056 at present lc approximately 3.350. This yard is now operating at about
Net gain. for year
(4%)128,000 (2%)64,000 two-thirds of its capacity.
Dividends
BALANCE SHEET DECEMBER 31.
def.$38,399 sur$49,056
Balance,surplus or deficit
1910.
1909.
LiabilitiesAssets1909.
1910.
BALANCE SHEET JUNE 30.
Property
*$3,559,481 $3,399,138 Capital stock, pref.$2,400,000 $2,400,000
1910.
1911.
1911.
1910.
Investments
99,462 Capital stock, corn. 2,400,000 2,400,000
72,625
$
$
$
Resources$
LiabilitiesReserve accts. rec..
80,764 Accounts payable,
57,235
3,200,000 3,200,000 Unearned Mau_
12.000
Property, works, &c.2,785,565 2,592,758 Capital stock
14,338
reserve
13,920
174,312 146,848 Prepaid taxes___
Accounts payable_
Net invest. Glassport
5,809 Uncompleted con7,453
365,000 115,500 Accrued interest_
776,624 796,166 Bills payable
235,455
533,405
Land Co
12,893
150
tracts, reserve
508,603 464,289 Bonds outstanding__ 390,600 390,600 Work In process.._
145,781
Inventories
164.746
272,423 Accts. payable_ 1,369,982
188,892
330,447
Accounts receivable_ 498,684 487,1731Non-interest-bearing
311,868 Surplus
Material on hand. 431.468
5,8841 notes
52,731 Accts., &c., rec. 2,044,187
31,639
2,827
Bills receivable
224,105
92,455 Surplus
498,003 536,402 Cash on hand_ __ _ 669,826
66,436
Cash
974,071
20,815
Investment securities 20,815
---- ------- ---17.033,834 $5,382,128
Total
$7,033,834 $5,382,128
Total
4,659,554 4,442,081
Total
4,659,554 4,442,081 Total
-V. 93, p. 52.
*Property includes in 1910 real estate, buildings, dtc., $2,377,866; machinery,
equipment, &c., $1,301,614; total. $3,679,481; less depreciation, $120,000; balance.
North Butte Mining Co.
$3,559,481.-V. 91, p. 92.
(Report for Fiscal Year ending Dec. 31 1910.)
Battle Creek Coal & Coke Co., Atlanta, Ga., Orme, Tenn
President James Hoatson, Duluth, April 17, wrote in brief:
(Report for Fiscal Year ending March 31 1911.)
New Properties.--The company has purchased the remaining 25% interest
In the Snowball mining claim in Sliver Bow Co., Mont.; also, since Jan. 1
This company, with mines at Orme, Tenn., having a daily
1911, an undivided one-half interest in the Carlisle and Protection lode capacity of 1,000 tons, on reported May 2 1911, says:
mining claims, situated in Silver Bow Co., Mont.
With a view of securing the whole of the Edith May vein, we recently conOut of the net earnings of $43,582 for the year 1910-11, $15,308 was
veyed to the Anaconda Copper Mining Co. our interest in the Emily and reserved for depreciation, leaving a net profit of $28,274. Out of ON
Millview claims, for a cash consideration considerably above the cost amount there was charged off 69,164 on account of extraordinary expendthereof to us, and a due relinquishment to us of the apex portion of said tures incurred for a gas engine and mine cars and a change in the incline.
Edith May vein up to the east end line of the said Chief Joseph claim, ex- In order to secure the money for these expenditures, the remaining treasury
bonds ($0,000) were sold to the sinking fund at par. The remaining net
tended in both directions.
The company now owns a solid block of mineral ground with all lines defi- profit $10,110 was used to pay interest on the outstanding bonds.
The total reserve for depreciation for the four years ending March 31 1911
nitely defined, consisting of the following lode mining claims located in
Silver Bow Co., Mont., to-wit: All of the Edith May, Copper Dream, Miners' aggregated $39,901, which amount it has been deemed advisable to use in
Union, Jessie, Hancock, Ground Hog, Paul, Croesus, Snowball, Lynch- the reduction of property accounts.
The balance shows a surplus of $100,000. The amount of bonds (par
burg and John Emmit, fractional portions of the Speculator, Adirondack,
East Gem. West Gem and an undivided ftve-sixths of the Sioux Chief; value) in the sinking fund is $90,000, and the cash available for the rethrough the ownership of the Berlin Mining & Development Co., all of the demption of additional bonds is $2,794.
The physical condition of your property has been fully maintained and
Berlin, Leaf, Gustavus, Eva and Margaretha; also an undivided one-half
of the Carlisle and Protection and a joint ownership of the Granite Mountain. the mine has been operated practically on full time. This current year
The Strong litigation has been satisfactorily adjusted and due action has gives promise of a better market for coal, and,if our expectations are fulbeen taken to sell all of the property of the Berlin Company to the North filled, the earnings ought to show a substantial increase. [Signed: Rob
Robinson, Pres.; F. P. Thompson, Vice-Pres., and W. G. Humphrey, Secy
Butte Company.
THE CHRONICLE
526
7906-07.
$58,750
Net Earnings from All Sources for Years ending March 31.
[Amount available for interest, depreciation, &c.]
1907-08.
1910-11.
1908-09.
1009-10.
$32,723
$43,582
;37,649
$49,226
BALANCE SHEET MARCH 31 1911.
Assets ($1,130,894)Liabilities ($1,130,894)Real est., bidgs., equip., &c....$1,026,477 Preferred stock
Accts. and bills receivable__
8,329 Common stock
Sink. Id. (co.'s bonds 890,000)
92,794 Bonds outstanding
Cash
1,587 Accounts and bills payable
Miscellaneous
1,707 Surplus March 31 1911
-"V. 83. D. 971.
$300,000
400,000
325,000
5,894
100,000
Penrnans, Limited, Montreal.
(Results for Fiscal Year ending Dec. 31 1910.)
INCOME ACCOUNT.
1910.
1910.
1909.
1009.
Net profits
$100,000 $100,000
$407,813 $424,140 Int. on bonds
DeductDepreciation reserve
100.000 100,000
Div. pref. stock (6%). $64.600 $64,500
Div, corn. stock (4%)_ 86,024 86,024
Total deductions $377,168 $369,849
Accounts written off_ _ 26,644
9,325 Balance, surplus
$30,645 $64,291
BALANCE SHEET DEC. 31.
1909.
1910.
1910.
1909.
LiabilitiesAssets$
$
$
$
Plant
4,786,555 4,696,896 Preferred stock
1,075,000 1,075,000
Mae, on hand____11,397,71711,230,011 Common stock
2,160,600 2,150,600
14,998
Bond
issue
Wool in Hamilton.'
2,000,000 2,000,000
l
17,583 Accounts payable
Cash
20,788
262,083 219,601
105,829 129,617 Bills payable
Bills receivable
654,803 505,103
Accounts receivable_ 586,790 479,188 Depreciation reserve 300,000 200,000
Miscellaneous
22,544
15,984
Profit and loss
432,650 402,005
---- ---Total
6,897,680 6,568,293
Total
6,897,680 6,568,293
-V. 92, p. 960.
GENERAL INVESTMENT NEWS
RAILROADS, INCLUDING ELECTRIC ROADS.
Allegheny & Northwestern Street Ry.-Mortgage.-The
eompany has filed a Mortgage to the Guarantee Title & Trust
Co. of Pittsburgh, as trustee, to secure an issue of $700,000
bonds to construct the road now building from Evans City
to Harmarville on the Allegheny River, 21 miles.
American Railways, Philadelphia.-Terms of Exchange.Newburger, Henderson & Loeb and Bioren & Co., Philadelphia and New York,announce that, as syndicate managers,
they have purchased $2,500,000 collateral trust convertible
5% refunding gold bonds, dated Aug. 1 1911 and maturing
Aug. 1 1931, issued inter alia to refund the $2,435,500 5%
bonds due Dec. 1 1911, and secured by the collateral securing
the present loan, together with an additional $1,200,000 of
capital stock of the People's Railway Co. of Dayton, 0. A
large number of the new bonds has been disposed of, but the
bankers will receive,in the order of application,for refunding,
$1,500,000 of the maturing 5% bonds for exchange on and
after Aug. 28 1911 on a basis of 1003/ and int. for the maturing bonds and of 963' and int. for the new refunding bonds.
. A circular offering the bonds at 96% and int. says in brief:
Tax-exempt In Pennsylvania, the company agreeing to reimburse holders
for any taxes so paid thereon. Merchants' Union Trust Co.of Phila.,trustee.
Coupons F. &A. Denominations, $500 and $1,000 (0).
Authorized amount, $3,000,000. Direct obligations of the American
Railways Co., which has a full-paid capital gtock of $6,363,150, with a continuous dividend record of over eleven years-for the past nine years 6%
per annum. Issued to refund the loan maturing Dec. 1 1911 and to provide
partial reimbursement for moneys expended upon the properties whose
securities arc pledged to protect the loan, these expenditures for betterments and extensions having aggregated $2,674,954.
Collateral for Bonds Deposited with the Trustee.
Springfield (0.) By. Co. 1st M.6% gold bonds (entire issue)
$500,000
Chicago & Joliet Elec. Ry. Co. gen. M. 5s
1,600,000
People's By. Co. (Dayton, Ohio) stock, out of $2,500,000 [the
only outstanding obligations are $500,000 5% bonds]
2,250,000
This new refunding bond is convertible at par at the option of the holder
into the stock of the company, now selling at about 90%, at any time
prior to Aug. 1 1913. This same privilege for the loan of Dec. 1 1901 resulted in quotations as high as 111;
,
1% during the conversion period.
Digest of Statement by Pres. J. J. Sullivan, Philadelphia, June 5 1911.
Collateral.-(a) $1,600,000 Chicago & Joliet Elec. Ry. gen. M.5s.-A first
lien, subject only to a closed $400,000 mtge. upon the icoal lines in Joliet
System, 83.08 miles. The Am. Railways Co. has expended to Apr. 30
1911, subject to the $400,000 bonds, about $3,120,000 for the original cost
and betterments. (b) $500,000 Springfield (0.) By. Co. 1st M. 6s.-A
first and only mtge. upon the entire property. The investment of the Am.
Railways Co. to Apr. 30 1911, inclusive of the bonds, aggregated some
$1,310,000. Total mileage, 33.24 miles. (e) $2,250,000 stock in the
People's Ry. Co. of Dayton. This company has outstanding a closed mtge.
for $500,000. The purchase of the original $1,100,000 stock and further
expenditures of about $1,217,600 makes the total investment of the Am.
Railways Co. some $2,317,600. Total mileage, 31 miles.
The securities deposited to protect the new loan of $3,000,000 represent
actual value of probably not less than 54,417,591, followed by other [junior]
securities owned by the Am. Railways Co. having value of some $2,330,000.
Cost of extensions, additions, new equipment, &c.. Jan. 1 1902 to Apr. 30
1911, $2,674.954, viz.: Chicago & Joliet Elec. Ry. $1,032,314; Springfield
Ry. Co., $570,057; People's fly. Co., for extensions, new power house,
machinery, new car barn and additional equipment, $1,072,583.
Earnings for Fiscal Year end. Apr. 30 1911, Showing Amount Available for
Interest, &c., on Collateral Pledged for These Notes.
Gross Income. Net aft. Tax. Prior Chges. For Collateral.
C. e J. B. Ry___ $485,771
$113,351
•$20,315
$93.036
Springfield Ry _
288,864
94,568
None
94,568
People's By
428,447
144,219
z26,706
117,513
$1,103,082
$352,138
$47,021
$305,117
• Interest on 1st consolld. bds. Joliet RR., $20,000; deferred paving assessments, $315. z Int. on 1st M. bonds White Line Traction Co., $15,000;
on 1st M. bonds People's fly., $10,000; deferred paving and bridge assessments, $1 706.-V. 93. p. 468. 182.
• Atchison Topeka& SantaFe Ry.-Exchange of Properties.
-
The Atchison is negotiating for an exchange of the ownership of its Sonora Ry., extending from Nogales to Guaymas,
Mexico, 263 miles, now operated under lease by the Southern
Pacific, for the division between the Needles and Mojave,
Cal., 242 miles, owned by the Southern Pacific, but for many
years past operated by the Atchison as part of its main line,
under lease.-V. 93, p. 406.
[VoL. Lxxxxim
Austin (Tex.) Street Ry.-Bonds Called.-The company
has called for payment at 105 and interest on Oct. 1 at the
Equitable Trust Co., N. Y., all of the $350,000 outstanding
1st M.5% gold bonds issued by the Austin Electric Ry. dated
April 1 1903. An equal amount of 1st and refunding bonds
is reserved to provide for their retirement. See V. 92, p. 185.
Boston Elevated Ry.-Merger Act Approved.-The stockholders on Aug. 24, by a vote of 107,552 out of 107,584 cast,
approved the Act providing for merger with the West End
Street Ry. Compare V. 93, p. 406, 344.
Brooklyn Rapid Transit Co., New York.-Five-Cent Fare
Zone Extended.-The company on Aug. 22 announced an•extension of the single-fare zone, effective Oct. 1:
Brighton Beach Line, from King's Highway to Sheepshead Bay station
Culver Line, from Avenue P to Gravesend station (Neck road)' Sea Beach
line, from King's Highway to Avenue U; West End line, from Ulmer Park
station to Bay 'Fiftieth St. These points are all on the way to Coney Island,
the fare to which will continue to be 10 cents.-V. 93, p. 285, 228.
California Midland RR.-Acquisition.-John Martin, who
is President of the company and of the Nevada County Traction Co., and associates,have secured an option on the majority holdings of stock of President Mrs. S. A. Kidder in the
Nevada County Narrow Gauge RR., extending from Colfax
to Nevada City, 203 miles.
The sale Is made conditional on the minority stockholders receiving the
same price and the placing of a new bond issue to construct the proposed
line from Grass Valley, Cal., to Marysville. It is reported that a new issue
of $2,000,000 bonds will be made (the old issue authorized never having
been floated) and that Philadelphia capitalists have agreed to purchase
$750,000 of the new bonds and that an attempt will probably be made
to dispose of $500,000 of the bonds in Tuba and Nevada counties, leaving
the other $750,000 bonds available for future needs.
The Nevada County Traction Co. operates 5.1 miles of standard-gauge
track at Grass Valley, its capital stock being $100,000, and at last accounts
had outstanding $90,000 1st M. 5% 30-year $1,000 gold bonds due 1931;
Mercantile Trust Co. of San Francisco, trustee; authorized issue $100,000.V. 85, p. 39.
Canadian Northern Montreal Tunnel & Terminal Co., Ltd.
-See Canadian Northern Ry. below.
Canadian Northern Ry.-Hudson Bay Extension Let.-The
Government has awarded the contract for the construction
of the first section of the Hudson Bay Ry. from The Pas to
Thicket Portage, 185 miles, to J. D. McArthur, of Winnipeg,
whose tender amounted to about $3,000,000 and was well
within the estimate of the probable cost, according to the
Government's survey.
Work is to be begun at once. The total length of the proposed line from
The Pas to Port Nelson on Hudson Bay which is, it is understood, to be
operated by the Canadian Northern under an arrangement with the Government, is about 450 miles (see map In the "Railway and Industrial Section,"
page 21). The remainder of the line, which is a continuation of the Canadian
Northern The Pas branch that was opened in 1909, Is to be placed under
contract next year.
Pacific Contract Let.-The contract for the last link
between Winnipeg and the Pacific Coast, being the section
from Yellowhead Pass to Kamloops, 250 miles, has been
awarded to the Northern Construction Co. and the Cowan
Construction Co., jointly, at approximately $10,000,000.
Work is to be begun at both ends at the same time, the time
set for completion being two years.-V. 93, p. 406, 162.
Montreal Terminal Co. Incorporated.-The Canadian
Northern Montreal Tunnel & Terminal Co., Ltd., was incorporated in Canada on Aug. 12 with $50,000 capital stock
in $100 shares, to build the proposed Montreal terminals of
the company. Compare V. 92, p. 1435.
Chicago Burlington & Quincy RR.-Bonds Called.-One
hundred and forty-one ($141,000) bonds of 1882 have been
called for payment at par on Sept. 1 at New England Trust
Co., Boston, trustee.-V. 93, p. 286.
Chicago & Eastern Illinois RR.-Listed.-The N. Y.
Stock Exchange has listed $864,000 additional 4% refunding
and improvement bonds, due 1955, making the total amount
listed $15,996,000, and has also authorized to be listed on
and after Sept. 1 $3,216,100 additional pref. stock, as issued
in exchange for Evansville & Terre Haute stock, making the
total amount of pref. stock to be listed $12,046,800.-V. 93,
p. 229; V. 92, p. 1435, 1374.
Chicago & Milwaukee Electric RR.-Receiver's Statement.Other
6 Months ending Gross
Int. on
Net
Bal., Net
19u
June 30Revenue. Revenue. Income. Rec. Oblig. Taxes. Incoms.
$405,776 $112,539 $7,680 $33,805 $25,500 $60,914
6,710
52,805
1910
31,325
390,807
3,690
24,500
-V. 93, p. 345, 286.
Chicago Milwaukee & Puget Sound Ry.-Second Dividend.
-The company has declared a dividend of 2.7%; payable
as of June 30, from the earnings of the year ended June 30
1911, on its $100,000,000 stock, all of which is owned by the
Chicago Milwaukee & St. Paul Ry. The latter will therefore receive $2,700,000 from this distribution.
In February 1911 the Puget Sound company deciaced an initial dividend
of 2%. payable from the earnings of the year eliding June 30 1911. Both
of these dividends, aggregating 84,700,000, will be included in St. Paul's
"other income" for the fiscal year ending on that date. The annual report,
which will be published in a week or ten days, will, it is reported, show
that the St. Paul company earned, after crediting the amounts received
from the two dividends, a surplus above its own 7% dividends.-V. 92,
p. 1374.
Chicago Milwaukee & St. Paul Ry.-Dividend from Controlled Company.-See Chicago Milwaukee & Puget Sound
Ry. above.-V. 93, p. 162.
Cincinnati Traction Co. (Lessee of Cincinnati Street Ry.
Co.).-Equipment Notes Offered.-The Fifth-Third National
Bank, Cincinnati, is placing at 1003. and int, the total issue
of $220,000 5% equipment notes, series C, issued by the
Fidelity Trust Co., Philadelphia, as trustee, and guaranteed
as to principal and interest by the Cincinnati Traction Co.
Dated June 15 1911. Par $1,000 (c*). Int. J. & J. Principal due $11,000 half-yearly from Jan. 1 1912 to July 1 1921
inclusive. A circular adds:
AUG. 26 1911.]
THE CHRONICLE
These equipment notes have been Issued to pay in part for the following
the most
equipment contracted for by the Cincinnati Traction Co., all of bodies
33
Modern type, viz.: 50 double-truck closed motor cars complete,
with
ft. over corner posts, 44 ft. over buffers, pay-within type, equipped
Westinghouse double equipment, 75 h.p. motors, single end K-40 controllers
and National Electric Co. air-brakes. The cost is $300,000, of which
amount $80,000 will be paid In cash. The title to the equipment remains
been
with the trustee until all of these notes, together with the interest, have
paid. The Cincinnati Traction Co. is capitalized at $2,000,000 and controls and operates the entire street railway system of Cincinnati and its
suburbs, comprising In all 220 miles of track. Neither the Cincinnati Traction Co nor its leased property have any bonded debt. The annual surplus
maturing
is considerably in excess of the amount required to pay both the
principal and interest of this issue the first year.-V. 91, p. 1327, 154.
Delaware & Eastern RR.-Sold.-At the foreclosure sale
in Margaretville, N. Y., on Aug. 16 William H. Seif of
Pittsburgh, Chairman of the reorganization committee, representing over 90% of the bonds, purchased the property in
the interest of the bondholders. A reorganization, it is
said, may be effected shortly under title of the Delaware &
Northern RR. Co. The road extends from East Branch to
Arkville, N. Y., about 50 miles. (See committee in V. 91,
p. 462.)-V. 93, p. 44.
Denver & Rio Grande RR.-Official Statement-Prospect
Favorable-Improvements on Western Pacific, &c.-An interview with President E. T. Jeffery, published in the "Boston
News Bureau" of Aug. 22 and officially revised for the
"Chronicle," says in substance:
Pres. Jeffery, who has returned from 'a 9,000-mile inspection trip over
Denver dc Rio Grande, Western Pacific, Wabash and Missouri Pacific from
Kansas City to Pueblo, found prospects for a good business this fall favorable. Throughout the West merchants report a lull in trade, but are doing
as much business as In 1910. Crops, while not heavy, will produce normal
tonnage. The corn crop Is expected to be about 100,000,000 bushels
heavier than the average of the past ten years, but will be about 15% below
the bumper yield of last year. Small grain yields are not up to expectations, but on the whole everything promises a very large traffic in farm
products and farmers may be expected to get good prices.
Pres. Jeffery said that he found the Denver & Rio Grande and Western
Pacific in good average condition. Improvements in contemplation for the
former will be deferred until the market Is more favorable for sale of refunding bonds;the company is now laying about 4,000 tons of new 85-1b.
rail, Involving renewals, and has just completed double-tracking ten miles
west of Pueblo at cost of $45,000 per mile.
The new low-grade line being constructed In conjunction with Colorado
& Southern, between Pueblo and Walsenburg, to accommodate the heavy
coal traffic, will cost each company about $1,900,000, and will be completed
about Dec. 1. The Salt Lake shops are being enlarged at a cost of $50,000
and considerable strengthening of narrow-gauge lines with heavier rail taken
up on the main line Is being accomplished.
Western Pacific by Nov. 15 will have completed repair work necessitated
by the snow and land slides of last winter, which proved a severe handicap
to operation. Total cost of this was about $200,000. Net earnings for the
next year will be devoted to further Improvement and construction work,
while the Denver & Rio Grande, said Mr. Jeffery, will take care of Western
Pacific's 1st M. bond Interest for the entire current ficsal year; this will call
for $2,500,000, or approximately equal to the D. & R. G.'s total surplus
earnings reported In the past fiscal year. (Compare earns., V. 93, p.465.)
Mr. Jeffery traveled over practically all main 'fines of Wabash and found
them In better condition than he has ever seen them. Motive power and
officials who
equipment are now being worked to capacity, and all Wabash encouraging.
accompanied him reported the outlook for a good fall business
The company has just ordered 30 new locomotives, 1,200 freight cars and
some new passenger equipment In preparation for the better fall business
expected.
About 80% of the Missouri Pacific's lines between Kansas City and Pueblo
were found to be in good average condition and the remaining 20% will
be brought up to the same average by Nov.1. Missouri Pacific, on receipt of
new equipment reeently ordered, will inaugurate faster freight and passenger
train service over all of its lines and between St. Louis and the Pacific Coast.
Mr. Jeffery believes, from standpoint of location, gradient and physical
condition, coupled with Its large terminal facilities, and also that half of
Its length Is through strictly local territory, capable of tremendous development, that Western Pacific is the greatest asset possessed by Denver & Rio
Grande. July gross of Western Pacific amounted to $420,000, or at the
rate of over $5,000,000 per annum. August and September returns are
expected to be still larger.-V. 92, p. 1635.
Decision.-Judge Lewis in the Federal Court at Denver,
Colo., on Aug. 21, in the suit brought by the Government in
1902, held that the company must account for alleged timber
trespasses committed during the construction of the road.
'The Government claims that the road, with Its subsidiary lines and lumber companies, took advantage of the grant of 1872, permitting it to cut
trees from adjacent public lands for the building of its roadbed In southwestern Colorado, and wrongfully took from the Government millions of
feet of rich timber. The company, It Is claimed, went far Into the interior
and even built lines of a temporary nature in order to got at the richest
timber stands. The company says that the Government agents who figured up the stumpage In the investigation were incompetent. The Government, at the time of filing its suits, estimated the value of the standing
trees cut Illegally by agents of the road at $10,000,000. A master will be
appointed by the Court to determine the exact value.
President Jeffery says that the published estimates of the amount inthat the definition of the word
volved In the suit are greatly exaggerated;
'adjacent" has been a bone of contention which has kept the courts busy for
from court to court. In one instance It
about ten years, the case passing within
miles of the road could be conwas decided that all the territoryCourt at17Denver
ruled that 3 miles only
sidered adjacent. The Federalterm.
The
it Is expected, will be carcase,
the
In
comprehended
could be
ried to the U. S. Supreme Court.-V.92, p. 1635.
Grand Trunk Pacific Ry.-Debentures Sold.-The company
it is reported, has sold privately in London an additional
block of $3,000,000 of 4% debentures.-V.92, p. 1242.
Great Northern Ry.-Permanent Bonds Ready.-Holders of
the temporary 1st and refunding M.4% bonds are notified
that they may exchange them for the permanent bonds at the
company's office, 32 Nassau St., N. Y. City.-V.92, p. 1564.
Illinois Traction Co.-Chicago Freight Business.-The
company has opened offices in Chicago with the announced
purpose of securing freight from points between Chicago
and St. Louis.
The company has as yet no direst entrance Into Chicago, but plans arc
now under way through which it hopes to accomplish that result. The
company spent $7,000,000 to get into St. Louis, including the building of
its own bridge across the Mississippi River, and it is said to be ready to
Into the heart of Chicago. An extension is now
spend an equal sum totoget
which will be opened some time next
building from Morris Joliet,
III.'
In a better
position1:mitten to bid for Chicago business. At
month, when it will be
has traffic agreements with the Chicago Rock
the present time the system
Island & Pacific and the Chicago & Eastern Illinols.-V. 93, p. 44.
Jardim Botanic° Tramway (Oompanhia Ferro Oarril do
Jardim Botanico) (Rio de Janeiro Tramway, Light & Power
Co. System).-Bonds Offered.-Dunn, Fischer & Co., London,received applications recently for a block of £800,000
let M. 40-year 5% bonds offered at 993.
warelt111
527
Bonds dated July 1 1911 and repayable July 1 1951 through a sinkin
fund beginning in 1912 by purchase at or under 102 SS% and Int. or b
drawings at that price. The company has the right to redeem the whole
issue at any time at 102 and int. on three months' notice. Par £100.
hit. J. & J. at Canadian Bank of Commerce In London, N. Y and Toronto.
Abstract of Letter from Dr. F. S. Pearson, President of Rio de Janeiro
Tramway, Light & Power Co., Ltd.. London, June 6 1911.
The Jardim company was incorporated in Brazil in 1882. Its authorized
share capital is 21,000 contos (£1,400,000), consisting of 70,000 shares
(fully paid), par value 200 mllrels each, and 35.000 shares, 60% paid. The
company enjoys from the municipality of Rio de Janeiro the exclusive right
until 1960 to operate tramways In the Jardim Botanleo district, the favorite
residential district of Rio de Janeiro; under this concession has installed an
electric-generating station, 50 miles of track, 120 motor cars and 219 trailers.
Gross and Net Earnings and Dividends Paid on Share Capital.
Gross.
Divs.
Net.
Net.
Gross.
Divs.'
1907__£408.030
7%
£188,913
£104,779
7%11909__£440,684
1908_ _ 461,410
7%
243,619
138,162
_ 460,427
The entire gross earnings (in 1910,
£460,427) are available for interest
8%11910and sinking fund during the existence of the operating contract, while the
amount required is £70,500.
The Rio de Janeiro Tramway, Lt. & Power Co. has acquired about 78%
of the share capital of the Jardim company and operates the system under
an operating contract by which the gross earnings go to the Rio company,
nhich undertakes to pay the service of the company's bonds and 7% on
Its share capital, and in case the operating contract is terminated to return
the property in a high state of efficiency. The Rio company has entered
Into an undertaking with the National Trust Co., the trustee for the bonds,
to put aside half-yearly out of the gross earnings of the Jardim property
a sum sufficient to meet the Interest and sinking fund, and in case the operating contract should be terminated before the redemption of all the bonds
to meet the service of the same from its own revenues.
The £800,000 bonds now offered form part of an authorized issue of £1,400,000, of which a further £400,000 have been sold abroad, and the balance
of £200.000 can be Issued for further requirements. The proceeds of the
£1,200,000 will be applied first In redeeming the present outstanding
14,000 contos (£934,000) 7% bonds called for redemption July 1 1911, and
the balance in extending and improving the property.
• Kansas City Mexico & Orient Ry.-Additional Bond Issue.
-The company will shortly issue another block of $4,000,000
of its 4% 50-year 1st M. bonds. The proceeds will be used
to complete the connection between the company's lines at
Alpine and Chihuahua.
Presumably the bonds will be offered on bath sides of the Atlantic. The
last issue of bonds carried with It a stock bonus, and the new issue will probably be offered at a similar inducement, although the terms will slightly be
different from the last.-V. 93. p. 164.
Lake Champlain & Moriah RR.-Increase of Stock7=Me
company has applied to the Public Service Comm., 2d Dist.,
to increase its capital stock from $200,000 to $400,000 for
additions and improvements.
The road extends from Port Henry (N. Y.) to Mineville, 7.66 miles, and.
carries chiefly iron ore for Port Henry Iron Ore Co. and Witherbee. Sherman & Co., which together own the entire capital stock. The tonnage of
the road has increased from 458,411 net tons in 1904 to 970,851 net tons
In 1910. Except for one dividend of 3%, paid in 1899, no dividends have
been paid since 1893, the net earnings having been expended in additions.
Improvements and equipment.
Louisiana & Arkansas Ry.-Dividend.-The directors
have declared the twelfth regular semi-annual dividend of
1%%, payable Sept. 15 1911. Books close Sept. 14 and
open Sept. 18 1911.
Central Station.-The company's Shreveport, La., terminal property is now being used by all the passenger trains of
the St. Louis & Southwestern Ry. under a 25-year lease.
Negotiations are pending with another railroad tor the use of
this terminal.-V. 93, p. 469.
Missouri Pacific Ry.-Status.-See Denver & Rio Grande
RR. above.-V. 93, p. 229.
Monterey Ry., Light & Power Co.-Earnings.-For cal yr.'
Gross earnings, railway__ _ _$144,1821 Deductions50,8851Int. on debenture stock_ _ _ _$253,472
Net earnings
25,000
Waterw'ks, It., pow., &c 401,874 Div. on pref. stock
$174,286
$452,759 Balance, surplus
Total net
During the year there was issued an additional £100,000 5% debenture
stock, and there was received from the water-works and sewer company
$900,000 additional bonds, bringing the total of water-works company bonds
held by the company up to $3,100,000. Compare V. 93. p. 105.
3ada County Narrow Gauge RR.-Sale.-See California
Ne,
Midland RR. above.-V.91, p. 1768.
Nevada County Traction Co.-Sale.-See California Midland RR. above.
Northern Ry. of Costa Rica.-Bonds Called.-One hundred
and three ($103,000) bonds issued under mortgage dated
Sept. 15 1900, for payment at par and int. Sept. 1 at Old
Colony Trust Co., Boston, trustee.-V. 92, p. 527.
Northwestern Elevated RR., Chicago.-Mortgage Authorized.-The stockholders on Aug. 21 authorized an issue of
$25,000,000 first mortgage bonds.
None of the bonds are to be sold at present, but a block will be deposited
as collateral for the new note issue.-V.93, p. 408.
Pacific Gas & Electric Co., San Francisco.-New Stock and
Bonds.-The shareholders will meet Oct. 23 to vote (a) on
increasing the authorized capital stock from $30,000,000
(of which there is outstanding $19,272,500 common and
$10,000,000 6% cumulative pref.) to $160,000,000, consisting of common stock, $150,000,000, and pref. stock $10,000,000; (b) on making a mtge. to secure not exceeding
$150,000,000 bonds, said bonds to be issuable to refund or
otherwise retire the indebtedness, whether bonded or other
indebtedness, or both, of the company and of any other corporations controlled by it, and the remainder of said issue
to be used for other corporate purposes,--V. 92, p. 1240,1179.
Paris & Mt. Pleasant RR.-Mortgage.-The company has
made a mortgage to the St. Louis Union Trust Co., as trustee,
to secure an issue of 1st M. 30-year $500 6% gold bonds at
$30,000 per mile, of which, a press dispatch states, $598,000
were registered on May 11 by order of the RR. Commission.
The company was incorporated in Texas in June 1909 with $75,000 authorized stock. Its line is In operation from Paris, Tex., to Bogata. 23.6
miles, an extension being under way from Bogata to Mt. Pleasant, 32 miles.
President, R. F. Scott, Treas., R. J. Murphy, both of Paris, Tex.
528
THE CHRONICLE
[VoL. Lxxxxiii.
Philadelphia Rapid Transit Co.—Monthly Reports.—The briskie, N. Y. City, and W. R. Alberger; Treasurer, C. B. Zabriskie of
N. Y.* Secretary F. W. Frost; General Counsel, Gavin McNab. Office,
company has begun to issue regular monthly statements of Mechanics'
Institute Bldg., San Francisco
earnings. See "earnings department" on a preceding page.
Directors: F. M. Smith, Wm.S. Tevis, R. G. Hanford, C. B. Zabriskie.
R.
Alberger,
W.
Gavin McNab, Dennis Searles, Harry W. Davis.
Thomas
.
E. Mitten, who has served as Chairman of the
The company has been reported as borrowing a considexecutive committee during the absence of E. T. Stotesbury,
erable amount in New York, but the amount of its funded
is quoted as saying:
As a result of the all-night service, which was inaugurated on the Market or other debt is not known.
St. elevated line July 10, there has been an increase of from 10 to 20% in
Wakefield, Garthwaite & Co. of San Francisco Cal., in
the total passengers carried from midnight to 5 a. m. upon the elevated
and the surface lines affected thereby. Approximately 3,800 passengers their monthly circulars for January 1911, said in substance:
are carried by the elevated
and the surface lines adjacent thereto during
The company is stated to be a holding or merging company for the street
the hours of the midnight service. Of this total approximately 2.000 passengers per night now patronize the elevated, thus permitting the gradual railway, ferry and interurban electric railways and other public service
corporations
controlled by F. M. Smith, W. S. Tevis and R. G. Hanford.
withdrawal of night car service upon the adjacent surface lines.—V. 93,
Among these corporations are the San Francisco Oakland & San Jose Conp. 346, 226.
solidated By. (or Key Route System), the Oakland 'fraction Co., the
Rio de Janeiro Tramway, Light & Power Co.—Bonds of Realty Syndicate (V. 83, p. 162; V. 79, p. 2746), the East Shore & Suburban By. and the Sierra Power Co. It is stated that a large amount of
Controlled Company.—See Jardim Botanico Tramwayabove. foreign
capital has been secured and that extensions of the several railroad
—V. 92, p. 1637, 1103.
systems from Oakland to San Jose and Sacramento are to be started immediately, and a system of docks and combined ship and rail terminals are
South Side Elevated RR., Chicago.—New Officers. and to be built around the Key Route pier.
Several of the electric railroads included in the merger have outstanding
Directors.—In accordance with the elevated railroad reor- bond
issues. The issue of bonds by the United Properties Co. will have
ganization plans, the following changes are announced:
the effect of making the present outstanding bonds underlying and by inThe old board resigned on Aug. 23 and Charles V. Weston withdrew as creasing the security will likely increase their market price.
President in favor of Britton I. Budd. who is expected to be President of
The "San Francisco News Bureau" on Jan. 14 said:
the consolidated system. Samuel Insull was elected Chairman of the board.
The new directors are: Samuel Instill, Henry A. Blair, B. I. Budd, Ira
Some idea of the big sums that have changed hands in the past ten days
M. Cobe, William A. Fox and J. H. Gulick. The members of the retiring is shown in the following checks drawn by[or to] different companies: Oakboard were C. H. Wacker, Byron L. Smith, William R. Linn, Charles H. land Traction and the Key Route companies, $1,500,000: Realty Syndicate
Huiburt, T. J. Lefens and William V. Kelley.—V. 93, p. 164.
of Oakland, $1,250,000: two water companies, $750,000: land company,
$400,000. The land company is yet to be incorporated, and it is reported
Trenton (N. J.) Street Ry.—Increase of Stock.—A certifi- its capitalization will be $5,000,000 or $6,000,000.
It will take over a
number of tracts of land which Tevis and Smith either own or on which
cate has been filed with the Secretary of State of New Jersey they
hold options, and included among the properties are said to be some
of an increase of capital stock from $1,000,000 to $2,500,000. of the Central California holdings of Tevis. The $400,000 paid out on
All of the stock except sufficient to qualify directors is held by the United these properties covers options which call for another $150,000 payment
next week. By June It is expected that the majority of the companies will
Power & Transportation Co.—V. 92, p. 796.
been merged, and It is figured that by this time $25,000,000 of foreign
Union Pacific RR,—Retrenchment.—It wasannounced at the have
money will have been brought into San Francisco. See V. 92. p. 60, 120.
offices of the Southern Pacific RR. in San Francisco on
United Railways of the Havana and Regla Warehouses.—
Aug. 22 that 2,000 men will be dropped from the rolls on the Preferred Stock.—In London, in June,
J. Henry Schroder &
Harriman lines this week and that6,000 more will be laid off Co. placed at 96% £1,000,000
5% cum. preference stock.
before the end of September. It is said that the employees
Condensed Extracts from Advertisement.
may be taken on again in October in the order of seniority,
The proceeds of the preference stock so offered are required (a) for the
purchase of £500,000 6% 3-year sterling notes of the Havana Central RR.
if conditions warrant.
Co.; (b) to
E. P. Ripley. President of the Atchison, is quoted as saying that unless
conditions improve his company will out down its pay-roll, and that Improvements are being generally held in abeyance. No reductions in wages
will, however, it is stated, be made unless absolutely necessary; but demands for advances will be resisted under existing unfavorable conditions.
The Chicago Burlington & Quincy is laying off some men employed in maintenance work somewhat earlier than usual, and some minor reductions are
reported by other companies, but no general effort at retrenchment by railroads generally is reported. A report by the Pennsylvania RR. early in
the week that It had deckled to lay off men to the possible extent of 10,000
to 25,000 was subsequently denied in the newspapers.—V. 93, p. 470, 409.
Union Railway, Gas & Electric Co., Springfield, Ill.—
Status.—E. W. Clark & Co. Phila., are offering at 93 and
int. a block of 5% collateral
'trust gold bonds of 1909, due
July 1 1939, originally issued, $4,000,000; converted into
pref. stock, $1,000,000; outstanding, $3,000,000. Convertible into 6% cumulative pref. stock at any interest
period on 30 days' notice to company, and redeemable at par
and int. on any interest date. A circular says:
acquire further terminal facilities at the Port of Matanzas;
(c) for the purchase of roiling stock and for general purposes.
This issue forms part of a total authorized issue of £3,500,000 preference
stock. Of this, £2,000,000 was authorized by resolutions of the pref. stookholders and of the company on April 25 1011 and £770,000 has been already
Issued. The company has, however, decided for Its prese,r.i. purposes to
issue only the £1,000,000 pref. stock now offered for subscription, and, in
lieu of the second £1,000,000, to issue shortly £1,000,000 in 45% redeemable debentures simultaneously in London and Paris. It is estimated that
the pref. stock and debentures above referred to will provide for all the requirements in the near future.
The net income for the year ended June 30 1910, after meeting all fixed
charges. was £343,815. The annual dividends on the preference stook (including that now offered), amounting to £1,770,000, will be £88,500.
Capitalization (June 1911): (a) Share capital issued and fully paid, 5%
cum. pref. stock (including about $1,000,000, £1,770,000; ordinary stock and
shares, £4,760,000; deferred ordinary stock, £493,434. (b) Debenture
stock and debentures issued and liable to be issued, 5% "A" irredeemable
debenture stock. £380,000; 5% consolidated irredeemable debenture stock
£1,425,900; 5% irredeemable debenture stock (1906), £2,824,100; 4%
redeemable debentures and debenture stook, £1,280,424.
Directors.—C. J. Cater Scott, Chairman; B. M. Underdown, K.C.;
Sir Henry Mather Jackson, Bart.; Hon. Arthur 0. Crichton, W. E. Ogilvie
and R. Popkiss, M.Inst.C.E.
Secured by deposit of over 98% of all of the stocks (preferred and comDebentures.—The £988,750 (or 25,000,000 francs) 434%
mon) of the several companies operated. Based on market transactions,
the value of these securities is over twice the bonds outstanding Addi- debentures offered in London by J. Henry Schroder & Co on
tional bonds are issuable only of a face value not to exceed 75% of'
the cash
cost of additions for the acquisition of bonds of the companies operated, July 3 on behalf of the Societe Generale and the Comptoir
National d'Escompte de Paris(and simultaneously in Paris),
eat., and only when the net earnings for 12 months are not less than 1 3.
times the interest charge, Including bonds anplied for. The company con- at 99
3, are described as follows:
trols electric railways operating over 134 miles single track, comprising the
Fifty thousand debentures to bearer of £19 15s. 6d., or 500 francs each
street railway system in Springfield, Ill., and the street railway and interurban lines in and connecting Rockford, Belvidere and Freeport, Ill.; (equal to £19 13s. 6d.), payable .£2 per debenture on application and
Beloit and Janesville, Wis., and intermediate towns: also the gas, electric- £17 13s. 6d. on allotment. They constitute a floating charge on the
lighting, power and steam-heating business in Peoria and Springfield, III., whole undertaking and assets, subject to the existing debenture stocks and
and Evansville, Ind., serving a population of about 300,000 in a prosperous debentures, and are repayable within 50 years by a cumulative sinking fund,
either by half-yearly drawings at 103, commencing Jan. 1 1917, or purchase
territory tributary to Chicago and St. Louts.
In 1909 $1,000,000 of the collateral trust 5% bonds were converted into in the market below 103, exclusive of accrued interest. The company has
pref. stock, reducing the bonds outstanding to $3,000,000, and increasing the option to redeem the whole or any part of the issue after 3 years at 103.
the pref. stock to $5,250,000. Regular dividends of 6% have been paid Principal and interest from July 1 (J. & J.) payable in sterling in London at
J. Henry Schroder & Co., and in francs In Paris; interest free of British or
on the pref. stock since organization.
Results for 12 Mos. ending May 31 1911, Showing Company's Interest French income taxes. Scrip certificates exchangeable for definitive debentures will be issued on and after July 13.—V. 93, p. 106.
Earned Neal Five Times.
Gross earnings
$3,050,877 Fixed chgs. of cos. own'd,&c.$662,876
Waterloo Cedar Falls & Northern (Electric) Ry.—Bonds—
Net earnings (after taxes) 1,395,457 Applic. to int. on coll. tr. 5s_ 732.582
Interest on these coll. trust 5s calls for $150,000, leaving for dividends Earnings.—McCoy & Co., Chicago, and Devitt, Tremble &
$582,582.—See also V. 89, p. 226; V. 93, p. 290.
Co., Chicago and Philadelphia, have recently been placing at
United Properties Co. of California, San Francisco.—Oper- 91 and int. $1,000,000 1st M. sinking fund 5% sold bonds
ations, &-c.—This company, which was incorporated in Dela- of 1910, making $1,800,000 of the issue outstanding.
ware on Dec. 31 1910,with $200,000,000 of authorized capital Condensed Data from Letter of Pres. L. S. Cass, Waterloo, Ia., May 15'11
Capitalization.
stock, shortly thereafter, it is understood, acquired control of Capital stock authorized, $2,250,000;
outstanding
the following other properties, with outstanding funded debt 1st M.5% gold bds. auth., $6,000,000; in reserve, $4;200,000; out.$1,875,000
1,800,000
unofficially reported as below:
Earnings for Years ending March 31 (1011-12 Estimated).
Oakland Traction Co., and San Francisco Oakland & San Jose
Consol.Ry.,together aggragating about 200 miles of track with
bonded debt (see pages 86 and 112 "El. Ry. Section") of abt_$16,636,000
East Shore & Suburban By., the new 22-mile electric railway
extending from the Oakland Traction system at Alameda
not
County line to Port Richmond and San Pablo,
known
_
Bay Cities Water Co.(stock $10,000,000). Bonds,
Cal.1st M.Auth.
$10,000,000 (V. 83, p. 1172) dated 1903 due Jan. 1 1948.
Int. J. & J. at Mere. Tr. Co., trustee, San Fr. and U.S. Mort.
& Tr.
N. Y. Issued
1,151,000
'Sierra Water
Co..Supply Co.(stock $5,000,000). Bonds 1st M.gold 5s.
Auth. $5,000,000 dated 1906, due Aug. 1 1926, Int. F. & A.
at San Fr. Trustee Mere. Tr. Co., San Fran.. Issued
750,000
The projected United Light & Power Co. and other enterprises are supposed to be controlled, but all particulars are withheld as to the corporations.
Its securities and properties, though promised later.
Since the organization of the United Properties Co. those
identified with it have incorporated, presumably in its interest, the Pacific Terminal Co. of San Francisco, with $5,000,000 stock; the Sacramento Short Line Ry. Co., with
$10,000,000 stock, to build from Oakland to Sacramento,
the San Jose Short Line Ry., stock $80,000, half pref., to
build to San Jose. Smith, Tevis, Hanford Co. incorp. in
Dela. Aug. 9 1911 with $1,000,000 stock. As part of the
proposed development there will be built, it is stated, a
system of docks of the largest size at Oakland, costing over
$10,000,000.
The officers of the United Properties Co. are:
President, F. M. Smith, Oakland, Cal.: 1st V.-Pres., William S. Tevis.
San Francisco; Vice-Presidents, R. G. Hanford ,San Francisco; C. B. Za-
1910-11. Esf.'11-'12.
1910-11, Est.'11-12.
$276,419
$340,0001Int. on 1st M..$90,000
Gross
$90,000
$184,000 Surplus
Net after tax_ _$144,856
$94,000
$54,856
The reserve bonds can only be issued at 82;4% of the cost of new extensions and improvements, when net earnings for the previous 12 months
are 1 times the annual Int. charge,incl, bonds then to be issued.
Owns and operates, without competition, all street railway lines in Waterloo and Cedar Falls, Iowa, a suburban line between these two cities, a modrn electric railroad from Waterloo to Glasgow, Denver, Denver Junction
and Waverly, Iowa, and the only freight belt line in Waterloo. This belt
line is built upon private right-of-way and connects important industries
with all trunk lines. Total trackage owned and operated, 59.804 miles,
of which 31.66 miles (only 16.41 miles being under franchises) are within
the cities and the remainder on private right-of-way outside city limits.
Also owns in fee 66 acres of valuable real estate in Waterloo (30 acres are
within five blocks of the wholesale district, affording unrivalled terminal
facilities) and 10 acres at Denver June.
The property has been practically rebuilt and rolling stook replaced
within the past few years. During the past year $600,000 has been expended upon the property. A modern power station of concrete, brick and
steel construction, with a present capacity of 2,250 k. w., has just been completed, with sufficient space for additional units as required
Practically
the entire system is laid with 75-lb. rails and is of standard ;team railroad
construction. The actual cost of the property is upwards of 53,000.000.
See further particulars in V. 00, p. 915, 850.
West End Street Ry., Boston.—Further Circulars.—Leading investment houses of Boston on Aug. 16 joined in a circular letter advising their customers to give proxies in favor
of the Consolidation Act,to be used at the meeting on Sept.6.
Acceptance of the plan is also urged by Gen. Bancroft and
other prominent shareholders and trustees. The protective
committee on Aug. 15 issued a second circular in opposition
to the measure. Gov. Foss in a letter dated Aug. 11 says:
AUG. 26 1911.]
THE CHRONICLE
529
No hardship to the stockholders of the West End will result from such
consolidation. I have had to look into that question, not only In my public
duty as Governor, but in my private capacity as a trustee of West End
stock, and I am satisfied, as a stockholder in both companies, that I can
best conserve the interest of the West End by voting for the consolidation.
The development of the Metropolitan District absolutely requires the
extension of the subway system, and the poeple will not tolerate any corporate action which militates against it.
I consider that the legislation just enacted is, in view of the facts, fair
to all interests. But if the West End stockholders reject this consolidation, the temper of the people will demand immediate and drastic legislation. To have the West End stockholders now reject the present legislation would simply invite what we would all deplore.-V.93, p. 409, 347.
Total assets. $3,032,208, viz.: Plant, &c. at Montreal and St. Hyacinthe, Quebec) (appraisal March 1911), 31,032,208; net current assets
March 31 1911. estimated,$2.000,000(per bal. sheet May 1910, $1,750,000).
President, D. Lorne McGibbon, Montreal. V.-Presidents, Clarence F.
Smith, Rufus C. Holden and Arthur Congdon, Montreal, and A. L. Johnson, Winnipeg. Directors: Herbert B. Ames, M.P., J. C. Holden.
F.R.G.S., Charles F. Smith, J. W. McConnell, J. H. McKechnie, Victor
E. Mitchell, K.C., Fayette Brown, Fleetwood H. Ward and Shirley Ogilvie,
all of Montreal. and W. R. Allan. Winnipeg.-V.92, p. 661.
Utah-Idaho Sugar Co.. $4,10,000
Orleans
650,500 pref
878
3,014,077 Miscellaneous
Contin'i Sug. Co., $415,440 505,440
The investments of the fire insurance fund aggregate $5,781,875, as fol:
lows: $500,000 N. Y. Gas & Elec. Lt., Ht. & Pow. Co. 4% bonds, $428,750; $1,000,000 Ch. Burl. & Quincy 3 Yi% bonds, $930,000; $500,000 Nor.
Pac. prior lien
4% bonds, $516,250; $250,000 Bait. & Ohio 4% bonds,
$250,000; $700,000 Chicago & Alton 3% bonds, $552,125; $500,000 Atch.
Topeka ec S. Fe gen 4% bonds, $503,125; $1,000,000 N. Y. City tax
exempt 33% bonds, $922,500; $250,000 N. Y. Central (Lake Shore coll.)
33% bonds, $213,750; $75,000 N. Y. Central (Mich. Central coll.) 3.i%
bonds, 364,125; $500,000 N. Y. City non-exempt 33.i% bonds, *488,750;
$1,000,000 American Tel. & Tel. 4% bonds, $912,500.
American Sugar Refining Co.'s Interests in Beet-Sugar Co's May 23 1911Production Campaign 1910-11.
Output
-Capital Stock(lbs.)
Amer. Co. %
Amount
Class Par
Owns, Own'd. 1910-11.
Names of Co's- Stock Shar's. Issued.
*371,250
49 12,482,400
$745,825
Alameda Sug. Co Corn. *25
50 68,452,800
2,500,000
Spreckels Sug. Co.. Coin, 100
5.000,000
4,650,500
49 70,965,800
Utah-Idaho Sugar1 Pref. 10
9,449,090
Corn. 10
1,470
Amal. Sugar Co___ Pref. 100
850,4001 50 25,801,300
850,400
Corn. 100
425,300j
1,701,000
Lewiston Sugar Co_Com. 10
37 10,619,300
225,000
606,430
261191,810,800
Gt. West.Sug. Co.,}Com. 100 10,544,000
2,735,500
incl. Billings Su. Pref. 100 13,630,000
38j
5,159,200
Co.,&Scottsbluff
351123,130,991
Michigan Sug. Co_ jCom. 100
7,471,107
2,607,400
(V. 91, p. 1331) (Pref. 100
2,043,800
3,703,500
551
Corn- 100
7,486,330
75
Iowa Sugar Co
416,500
550,000
5,003,696
80
Carver Co. Sug. Co _Com. 100
483,700
600.000
6,135,588
Men.Riv. Sugar Co_Corn. 10
825,000
300,000
36
Contin'i Sugar Co Com. 100
415,440
35 24,160,176
1,200,000
I am grieved that any financial misfortunes of my own could be construed
as a reflection upon my properties, and while I have to-day practically no
ownership in any of the companies of which I am President, I am anxious
that unnecessary apprehension shall not be felt. I am a great optimist on
the future of these three mines.
During the past five years $2,000,000 of cash has gone into the Arizona
Commercial proposition, in addition to the original property cost. On the
to 9%
10th level we have run a drfit 100 feet In ore that will average 4
copper. with streaks of very high-grade material. Up to within a week ago,
or before I was forced to part with my shareholdings, I owned 21,000 shares
which cost me an average of $40 per share. [There are outstanding *1,000,000 1st M.6% bonds, Int. due J. & D., and 120,000 shares of stock. The
company, it is stated, is at present without Income.- Ed.]
I figure that we have between two and three years of ore opened in the
Boston & Corbin, an ample supply for the new 300-ton concentrator. Expert estimates have been made that this concentrator will yield us net profits of $2 per ton. I figure that at only $1 50 per ton, we have prospective
profits of $450 per day on the present price of copper. There are about a
dozen underwriters to the Boston & Corbin bonds, and of course the company must hold them to their obligation. I am personally responsible for
$75,000 of the underwriting, and I will see that the money is forthcoming
from some source. (On Aug. 23 1911 the authorized stock was increased
from $500,000 to $650,000. See also V. 86, p. 983.)
For the first nine months of the fiscal year to end the 31st of this month.
Shannon showed net profits of $118,000. We have at the present time excess assets over all liabilities of about $100,000; this, after retiring the last
of our old 7% bond Issue. We have as large ore reserves in sight as at any
time in the past, and we have built a modern water system and a 1,000-ton
furnace (V. 93, p. 414).-V. 87, p. 616.
Anglo-Newfoundland Development Co., Ltd.-Listed.The London Stock Exchange some time ago listed scrip for
£500,000 5% 1st M. debenture stock.-V.91, p. 1770.
Western Pacific Ry.-Outlook.-See Denver & Rio Grande
Appalachian Power Co.-Underwriting Offered.-Williams,
RR.above.-V.92, p. 1637.
McConnell & Coleman, New York, are offering any part of
eight blocks of the underwriting on the following basis:
$1,000 1st M. 5% bond, $400 7% pref. stock, and $700
INDUSTRIAL, GAS AND MISCELLANEOUS.
"common stock" for $1,200 per block and accrued interest.
American Chicle Co.-Alliance.-See Autosales Gum & A circular reports:
tiontaliza
o%)
BoCapitalizationAuthorized.
Issued.
Chocolate Co. V. 92, p. 1501.-V. 90, p. 238.
35,450,000
325,000,000
American Gas Co., Philadelphia.-Two Controlled Com- Preferred stock (7%)
2,180,000
15,000,000
stock
10,000,000
6,000,000
panies Merge Their Subsidiaries.-See Luzerne County Gas Common
Incorporated in Virginia in 1911. Under management of H. M. Byllesby
& Electric Co. and the Philadelphia Suburban Gas & Electric & Co., Chicago.
and
water rights for five hydro-electric developThe company owns land
Co. below.-V. 92, p. 1496.
ments aggregating over 80,000 h.p., on New River, in Carrol, Pulaski and
American Smelting & Refining Co.-New Smelting Con- Grayson counties, Va. The company also owns and is now operating by
the local utilities in the towns of Bluefield, Marion, Pulaski, Welch,
tract.-See Ray Consol. Copper Co. below.-V.93, p. 471, steam
Keystone, Pocahontas, Bramwell, Wytheville and Princeton. Two of the
above hydro-electric developments, aggregating 29,000 h.p., are now being
291.
the first will be in operation about July 1 1912.
American Sugar Refining Co.-Investments-Beet Sugar built;
Seventeen towns on the transmission line had a population of 79,000 in
in 1910, an increase of about 80%. Within a radius of
Interests.-The balance sheet of Dec. 31 1910 (V. 92, p. 657) 1900 and 140,000development,
there is a population in excess of 400,000.
50 miles of the
showed investmentsin stock and bonds of $21,397,391. This See
also V. 92, p. 1567.
item includes (compare V. 91, p. 1571):
Copper
0o.-Committee.-A comArizona Commercial
Investments Dec. 31 1910, Aggregating *21,397,391 (Book Value).
composed of Charles Hayden, William A. Paine and
mittee
Amal. Sugar Co., $850,400
3d Ave. RR. N. Y. City,
to protect, in the interest
$1,000,000'
48
$650,000
pref. and $425,300 com_ $705,434 George Baldwin has been formed
Nat. Sugar Ref. Co.(N.J.),
Men.Riv.Sug.Co.,3300,000. 285,000 of the creditors of Pres. N. L. Amster (whose obligations are
*5,128,200 pref
5,128,200 Carver Co.Sug. Co.,$483,700 459,515
$500,000),the latter's holding4aggreLewiston Sug. Co., $225,000 225,000 said to amount to about
Gt. West. Sug. Co.(N. J.),
$5,159,200 pref. and $3,Iowa Sugar Co.,
_
405,650 gating over 60,000 shares (equally divided) in the Arizona
622,500 corn.(V.92,p.884)4,052,287 West.Sug.Ref.Co.,
$500,000 500,000
$416,500Copper Co., the Boston & Corbin Copper &
Spreckels Sugar Co. (Cal.),
Alameda Sug. Co., $371,250 203,875 Commercial
$2,500,000(V.91,p.1577) _2,450,077 Gt. West. Land Co., 5,000sh. 50,000 Silver Mining Co. and the Shannon Copper Co.
Michigan Sugar Co., $2,043,J. Eavenson &Son,inc. mtg. 80,000
Mr. Amster is quoted by "Boston News Bureau" of
800 pref. and $2,707,400
W. A. Zelnicker, mortgage_
51,000
Aug. 23 in part as follows:
corn. (V.91, p. 1557)
2,620,958 State National Bank, New
41 546,049,181
456,877,732 $23,183,990
See also National Sugar Refining Co. below.-V. 92, p. 1312.
American Tobacco Co.-Deposits.-The deposits of bonds
and pref. stock with the several committees are, it is stated,
coming in freely, showing that the importance of concerted
action is well appreciated. It is learned on very good authority that the tentative plan which is being developed by
the Circuit Court and the attorneys for the company has met
with no substantial objections from the Department of Justice. See the advertisements on another page calling for
deposits. Compare V. 93, p. 347, 287.
Ames-Holden-McCready, Ltd., Shoe Manufacturers, Montreal.-Bonds-Status.-There were offered for subscription through Parr's Bank, London, from May 3 to 6, on
behalf of the Montreal-London Securities Croporation of
Canada, £205,500 (approximate sterling equivalent at
4 86 2-3 of $1,000,000)6% 30-year 1st M.sinking fund bonds
at .2101 per £100 bond, dated April 11911, due April 11941.
Interest semi-annually in London and at Molson's Bank,
Montreal, at $4 86 2-3 to the £, A. & 0.
Austin (Tex.) Gas Light Co.-Bonds.-H. T. Holtz &
Co., Chicago, recently offered at par and int. $212,000
6% refunding mortgage gold bonds dated April 1 1911 and
due April 1 1931, but redeemable on any interest date at
101 and int. Interest Q.-J. at Central Trust Co. of Illinois,
Chicago, trustee. Par $1,000 C*.
Digest of Letter from Pres. Knowlton L. Ames, Chicago, June 6 '11.
Company supplies all the gas for light, heat and fuel in the My,serving
a population of over 30,000. Austin is the capital of the State aid the
seat of the University of Texas and other listitutions. It Is served by
three railroads. Retail stores over 300. Five banks, with comb! ed resources of about $10,000,000; 273 new residences erected in 1910.
Authorized.
Issued.
Capitalization-$100,000 *100,000
Preferred stock
250,000
250 000
Common stock
1,000.000
212,000
Refunding mortgage 6s
138.000
Underlying'5s (closed mortgage, due Oct. 1 1925)
To retire the underlying bonds before or at maturity, $138,000 of the
refunding 6s are reserved. Under the laws of Texas, the debt may not
exceed the capital stock; therefore the refunding mtge. provides that bonds
may be issued from the remaining 3650.000 authorized for only 50% of
the actual cost of extensions, Improvements or property acquired, and then
only provided the net earnings for the preceding 12 months shall have been
1
times the interest charge, including the new bonds applied for.
Earnings for year ended April 30 1911: Gross, $82,844; net, $35,151;
balance, surplus, $15,531.
annual interest on all bonds now out, $19,61290:9.
1908.
1909.
1910. 1911 (est.)
$40,000
320,681
$27,742
$33,260
Net earnings
The company has recently purchased an entire city block, with railroad
facilities, on which an entirely new plant is in process of construction, 011
completion of which the capacity will be over double the present requireOn March 31 1911 there
ments. The mains cover 51 miles of streets
were 2,686 meters connected; also 2,374 gas ranges, 794 gas arc lamps and
Information Furnished by Prospectus.
1,525 other appliances, such as gas heaters, water heaters, &c., a gain durCapitalization: Ordinary shares auth., $5,000.000; issued, 33,500,000: ing the past five years of 1,515 meters, 1,724 ranges and 208 arc lamps.
7% cumulative pref. shares auth., $5,000,000; issued, 32,500,000
1st M. While an average of 265 houses per year have been built in Austin during
6s authorized, $1,500,000; Issued (present offer), $1,000,000.
the last four years, the gas company has gained an average of 289 meters
Of the authorized issue of $1,500,000 bonds, $500,000 are held by the per year. Franchise runs 50 years from Oct. 7 1889. [The company is
trustee (Royal Trust Co.) and can only be issued for 75% of the value of controlled by or in the interest of the Metropolitan Gas & Electric Co. of
additions subsequent to April 1 1911, when annual net earnings are treble Chicago.] Compare V. 91, p. 339.
the interest charge, Including the bonds proposed to be issued. The bonds
Baldwin Locomotive Works, Philadelphia.-Engraved Cerare due April 1 1941, but may be redeemed (all or any part) at £106 and
int. on or after April 1 1921, on 3 months' notice, or upon voluntary liqui- tificates Ready.-Drexel & Co. and White, Weld & Co. andation. Annual sinking fund of 2% of the par value of all bonds issued,
nounce that engraved certificates for the preferred stock will
including bonds redeemed, will begin April 1 1913.
Recently formed to take over the highly successful boot and shoe manu- be ready for delivery in exchange for temporary receipts on
in
1853
established
and
1870
facturing businesses,
respectively, of AmesHolden Ltd., and James McCready Co., Ltd., whose principal directors and after Monday next at the Philadelphia Trust Co., 415
and officials will manage the combined company. Incorp. under Can. Cos.' Chestnut St.-V. 93, p. 47.
stock
in $100 shares. Owns large
Act March 13 1911 with $10,000,000
Bethlehem Steel Corporation.-Guaranteed Contract.modern factories at Montreal and St. Hyacinthe, Quebec, and branches in
Toronto, St. John, N. B., Winnipeg, Calgary. Edmonton, Victoria, &c.
The shareholders voted April 4 to ratify the contract of
Certified Net Profits after Depen, but Exclusive of Int. Charges (now $60,000)
guaranty executed Jan. 26 1911, guaranteeing1906-07. 1907-08. 1908-09, 1909-10. Average.
The performance by Bethlehem Steel Co. or its successors or assigns of
Ames-Holden (Apr.30 yr.) 3240,816 3207,728 $249,835 $251,4791$360,893
a certain amended agreement dated Feb. 4 1910, executed and delivered
84,600 107,583 149,947)
Jas.McCready(May 31 yr.) 151,585
392.401 292.328 357.418 401,426 360,893 on Jan. 3 1911, between that company and Didier-March Co. [of N. J.], In
Total
530
THE CHRONICLE
[VOL. Lxxxxiii.
regard to the construction by Dldier-March Co., or its assignees, of a byproduct coke oven plant on property near the plant of Bethlehem Steel Co.
and the manufacture and sale by Didier-March Co., or its assignee, to
Bethlehem Steel Co. of specified amounts of coke and gas.
(The Lehigh Coke Co., which was Incorporated In Pa. In July1910 and in
December last increased Its capital stock from $300,000 to $15,000,000
($8,000,000 being pref.), was organized, it Is understood, to own and operate the by-product coke plant which the Didier-March Co. Is building at
South Bethlehem, Pa., In order to supply the Bethlehem Steel Co. and
other manufacturing plants. About 300 by-product ovens are being erected
at this time. Edward D. Adams, 71 Broadway, N. Y. City, is mentioned as Treasurer. The action of the Bethlehem Company has reference,
we are informed, only to the purchase of coke, &c., and involves no financial plan.]-V. 92. p. 1027.
shall be paid on the common stock until any deficiency In the surplus fund
shall have been made good. No dividends shall be paid on the common
stock In any year in which the net current quick assets together with the
"special surplus account" fall below the amount of the outstanding pref. stk.
Directors: Burt Olney, Oneida, N. Y., Pres.; Arthur J. Wylie, Rome,
N. Y., V.-Pres.; William R. Olney, Oneida, N. Y Sec. and Treas.; S. 0,
DM Oneida,
Y.; II. L. Dillon, N. Y. City (Eastman, Dillon & Co.);
C. H. Sanford, Syracuse, N. Y.:F.W. Shibley, N. Y. City.
Butte Electric & Power Co.-Allied Enterprise.-See Great
Capitalization of the Company.
6% convertible first collateral trust gold bonds, dated June 1
1909, due June 11919;int. J. & D.: auth. and outstanding_ _ _ _$4,000,000
7% convertible 2d lien collateral trust gold bonds, dated Nov. 1
1910, due Nov. 11915; Int. M. & N.; auth., $2,000,000: outst'g 1,000,000
7% 3-year convertible debenture gold bonds, dated June 1 1911
and due June 1 1914; int. J. & D (recently taken by the stockholders or their assignees at par): authorized and outstanding 2,000,000
[All of the bonds are convertible into stock at par ($5) at any time up to
their maturity except the 3-year debentures, which are convertible up to
March 1 1914.1
Capital stock authorized, $14,000,000, in shares of $5 each; $7,000,000 reserved against conversion o $7,000,000 outstanding bonds and $1,000,000 against conversion of the $1,000,000
unissued 7% 2d collateral bonds, which are not likely to be
Issued at present; outstanding
$6,000,000
Incorporated in May 1909 In Delaware and owns all of the securities of
the Braden Copper Co., which owns 1,200 acres of mineralized land on the
western slope of the Andes Mountains, at an elevation of approximately
8,000 ft., in the Province of O'Higgins, Chile. The company's own railroad, now in operation, Is about 43 miles in length and connects with the
Government railroad at Rancagua. Valparaiso, the nearest large seaport,
is 159 miles by rail from the mines. The hydraulic work under construction
will make 12,000 h.p. available, although the electrical installation for the
present mill will use only half this amount. The ore deposit lies along the
periphery of an extinct volcano, some 14,000 ft. in length, and by using a
modification of the caving system there will be a minimum of timbering and
labor in ore extraction, with no hoisting of ore or pumping of water. Present ore reserves, 12,000,000 tons: average 2.70% copper. A cost of 7 cents
per lb. or better should be obtained under normal operating conditions.
It is expected that the first unit of the 3,000-ton mill will be in operation
by Aug. 1, and before Jan. 1 the full 3,000-ton daily capacity should be in
operation. It is estimated that when the mill is operating to full capacity
the company will produce between 37,000,000 and 38,000,000 lbs. of copper
annually, which, on the basis of present metal prices, should yield a net
profit of 5 cents per lb., or $1,850,000 a year. Interest on the outstanding
bonds amounts to $450,000. Only a small part of the mineralized territory has been prospected up to the present. The various convertible
issues are selling at about 110%.
Directors.-W. N. Akers, J. E. Bamberger, William Braden, L. F.
Crofoot, Murry Guggenheim, S. R. Guggenheim, Messmore Kendall, C. K.
Lipman, Edgar J. Meyer, Eugene Meyer Jr., Barton Sewell.-V.89, p. 350.
ting in N. Y. City, and made a first mortgage to the Knickerbocker Trust
Co. of N. Y.,as trustee,to secure not exceeding 51,000,000 6% gold bonds.
Of these bends, $500,000 of such series as:the company might elect were
issuable forthwith to provide for payment for the cash and current accounts
receivable of the N. Y. Livery & Auto Co. and the Taxi Service Co. and to
discharge their floating debts. Thelmortgage covered in addition to all cabs.
carriages, &c., owned by the Cab & Taxi
the entire capital stock of
the Taxi Service Co. and of the Moulton Stable
Co.,Co. and'97 3.% of the stook
of the Club Automobile Co. Frank M. Peters was Pres. and Emil C.
Kaestner Sec. Alias Lexow is interested.
The sale of the assets was made to Belvidere Brooks, W. B. Lashar and
T. Tffeston Wells, the reorganization committee. The plan of reorganization, It is stated, provided for a new company with a capital stock of 51,700,000. divided into $200,000 1st pref., 5250,000 2d pref. and $1,250,000
common; also an issue of $250,000 bonds. Press reports say that the stock
Is to be distributed as follows: To 1st M. bondholders, 5183,000 1st pref.
stock; general merchandise creditors, $225,000 2d pref. nook and te 2d
bondholders, $1,250,000 common stock at the rate of 500, for each dollar
of bonds; or if not assenting, to general creditors 10% of their claims In
cash and to 2d M. bondholders 3% in cash. The assets were appraised at
$374,429 as a going concern and at $218,501 at a forced sale. On Aug. 1
1911 a new "Cab & Taxi Co." was incorporated at Albany with $1,700,000
stock and on Aug. 10 1011 made; a 'mortgage to the Columbia Trust Co. of
N. V., as trustee, to secure $250,000 6% bonds due at various dates.
Falls (Mont.) Power Co. in V. 93, p. 472.-V. 93, p. 166.
Cab & Taxi Co., New York.-Reorganization.-BankBoston & Corbin Copper & Silver Mining Co.-See Arizona ruptcy proceedings were begun against this company
and its subsidiary, the Moulton Stable Co., in March
Commercial Coppper Co. above.-V. 86, P. 983.
1911, Francis C. Huntington being the receiver. On July 5
Braden Copper Mines 00.-Convertible Bonds.-Eugene the U. S. District Court authorized the acceptance
of an offer
Meyer Jr. & Co., New York, call attention to the company's received for the properties.
securities, which they regard as among the most attractive
The original company *was incorporated at Albany on July 20 1010, with
in the mining list. A circular shows:
$2,500.000 of auth. cap. stock,as a merger of cab and taxi companies opera-
British Columbia Copper Co.-Favorable Decision.Justice Page in the Supreme Court in this city on July 14
denied the application of minority stockholders of the New
Dominion Copper Co. for an injunction restraining the
British Columbia Copper Co., which owns over 53% of the
New Dominion company's $1,250,200 stock and also the
latter from carrying out a contract by which, it is stated,
45,000 tons of the New Dominion ore goes to the smelters of
the British Columbia Co. at the rate of 700,000 to 800,000
tons a day.
The plaintiffs contende 1 that the British Columbia Company, by reason
of its control of the New Dominion company, is getting the ore on better
terms than It otherwise would.
The Court found that the New Dominion company would have to shut
down because it has no smelter of its own if the injunction was granted and
stated that It the copper ore brings less than it properly should,the stockholders may sue the British Columbia company.-V.92, p. 464.
Brooklyn Borough Gas Co.-Rate Reduced.-The Public
Service Commission, First District, on Aug. 27 handed down
a decision fixing the rate to be charged by the company in
the 31st Ward of Brooklyn at $1 per 1,000 Cu. ft.
Before the commencement of the proceeding the company charged $1 05,
but voluntarily reduced the rate to $1 and asked the commission to fix the
proper rate. The commissi m holds that for the present no further reduction should be ordered.-V. 90, p. 773.
Burt Olney Canning Co., Oneida, N. Y.-Pref. Stock
Offered.-Eastman, Dillon & Co., 71 Broadway, N. Y
offered publicly on May 2 at par ($100 a share) a limited
amount of the $300,000 7% cumulative pref. stock, dividends Q.-M., retirable in whole, but not in part, on or after
Jan. 1 1921, at 115 and accrued dividend. Preferred both
as to assets and dividends.
Abstract of Letter from President Burt Olney, Oneida, May 1 1911.
Organized In N. Y. State. Authorized capital stock $400,000 pref. and
$400,000 common; issued, pref. stock $300,000, common stock $300,000.
No mortgage or bonded debt. The proceeds of the $300,000 pref. stock
will be used as additional cash working capital. Business established-1n
1902 at Oneida. Plants at Oneida, Madison Co., N. Y., and Albion,
Orleans Co., N. Y.; also owns 1,701 acres of improved farm lands located
chiefly In Madison County, N. Y., and produces thereon about 25% of the
output of Its factories. Output the highest quality of canned fruits and
vegetables coreprising joeas, corn, string beans, tomatoes, cherries,berrles,
small fruits, &c. Total sales for 1907 were $692.339; 1908, $762,035: 1909,
5854,096; 1910, 51,007,969. 95% of entire output Is sold under company's
own brands and labels prior to the packing season
Balance sheet of Jan.21 1911,after adjustment for sale of $300,000 pref.
stock, shows assets of $880,506 (offsetting the $600.000 stock, 3.6 pref.) accounts payable of $17,954 and surplus of $262,553, viz.: Cash, $32,011;
bills and accts. receivable, $78,681; inventory, $164,813; live stock and
farm supplies, $38 901: prepaid Insurance, $3,000; real estate, plant and
machinery, $433,065* improved farm lands (1,701 acres), *129,135.
Earnings after Allowingfor Saving of at Least 6% from Use of New Cash..
1910.
1908.
1907.
1909.
Pref. Div.
Average.
*66,934
$85,509
$80,854
$120,028
$21,000
$88,331
The shrinkage in 1910 over 1909 is largely accounted for by the excessive
charges to maintenance account.
No mortgage can be placed on the properties nor the issue of pref. stock
be increased without the consent of 75% of the pref. stock. Each year beginning Jan. 1 1911 there shall be set aside for "special surplus account"out
of the net profits, after all dividends upon the pref, stock, an amount equal
to at least 3 1-3% of the largest amount of pref. stock at any one time outstanding, for purchase of pref. stock at not exceeding 5105 a share and acerned dividend till Jan. 11921, and not exceeding $110 a share in any year
thereafter; otherwise to be held as cash or cash working capital, and used
to retire the pref. stock by call, In whole but not in part, at 115 and accrued
dividend. The company agrees to maintain a surplus account at an amount
not less than $150,000 above said special surplus fund and no dividends
M.
California & Hawaiian Sugar Refining Co.-Called Bonds.
-Two hundred bonds ($200,000) dated June 1 1898 (issued
by the company under its former corporate name of California
Beet Sugar & Refining Co.) were drawn for redemption
on June 1 at par and interest at the office of the company,
254 California St. San Francisco. Compare V. 88, p. 1315.
California-Idaho Co., Pittsburgh, Pa.-Remaining Bonds
Offered.-In London from July 10 to 12 there were offered
by Robarts, Lubbock & Co. for the vendors,at £97 10s. per
$500 bond,$1,500,000 "1st M. and collateral trust" sinking
fund 5% gold bonds, unconditionally guaranteed by the
American Water Works & Guarantee Co. of Pittsburgh, the
remainder of a total issue of $6,500,000 bonds, of which
$5,000,000 had already been sold or disposed of in the U. S.,
France and Holland. Issue due, as to residue of $700,000,
(not previously redeemed by sinking fund on Oct. 1 1925)
at $4 863/i to the £, or equal to £102 15s. 6d. per $500 bond.
An advertisement said in substance:
Interest A. & 0. in New]York or at office c.f.-Chaplin, Milne, Grenfell &
Co., Ltd., London,at $4 88 36 to the £. Denominations $1,000 and $500 O.
Secured by trust deed dated Oct. 1 1910; Farmers' Loan & Trust Co. of N. Y.
and James D. O'Neill, trustees
The sinking fund, It is covenanted, will
redeem bonds as follows: Oct. 1 1914, 5400,000; 1915, $425,000; 1916,
$450,000; 1917. $475,000; 1918, $500,000; 1919, 5525,000; 1920, 5550,000;
1921, $575,000; 1922, $600,000; 1923, $625,000; 1924, $075,000; 1925,
$700,000. The sinking fund is to be applied In cancellation of bonds by
purchase at or below 105% (equal to £107 18s. 3d. per $500 bonds)and int.,
or by drawings at that price.
Security for the bonds: (1) $10,000,000 fully paid capital stock of the
Sacramento Valley irrigation Co. of Delaware (entire issue) (V. 90, p. 171,
56); (2) 5510,000 fully paid capital stock of Twin Falls North Side Land &
Water Co. (51% of entire capital stock) (V. 89, p. 090): (3) all the lands,
real estate and water rights acquired by the company, including 33,000 acres
of land. The prospective value of the company's assets Is estimated at
429,025,000 by W.S. Kuhn, V.-Pres. of Am. Water Works & Guar. Co., viz:
Eventual liquidating value of $10,000,000 stock of the irrigation company,
on basis of present unimproved value of 5125 per acre, after deducting cost
of land, construction and sale and all co's indebtedness, $6,500,000; improved salable value of lands now owned by the company and the irrigation
co. after expenditure now proceeding, $14,000,000; net profits from sale
of water rights for 130,000 acres and of lands to be acquired to utilize the
same, in addition to the 33.000 above mentioned, $7,250,000; eventual
liquidtaing value of 51% of stock of Twin Falls North Side Co., 51,275,000.
The Vice-President of the North Western Trust Co. of St. Paul reports:
The price per acre at which the irrigation co. Is selling these lands, $125.
Is . . . moderate, and is so regarded throughout the State. In my
judgment, the lands will Ilnd a ready sale, and will in the near future be the
theatre of Immense activity. Their fertility and market facilities offer every
opportunity of success to the industrious settler."
The company has acquired rights for taking water from the Sacramento.
River sufficient to irrigate 250,000 acres, granted by the State of California
and ratified by special Act of the U. S. Congress. The company agrees not
to sell any of these rights for less than $75 per acre. The Sacramento Valley
Ifrigation Co. Is now engaged in constructing a system of irrigation works.
a large part of which is completed, and the remainder Is under construction.
That company also acquired by purchase 120,000 acres of land to be irrigated by this system. The irrigation company offered a limited amount
of this land, not then Irrigated, but with permanent water rights, for sale.
In 40-acre tracts at $125 per acre, and ready purchasers were found for 12,000 acres. An expenditure of $50 per acre for irrigation and improvements
greatly increases the value of these lands. The company will make these
improvements and estimates that an increase of 514,000,000 over the present
selling price wit be effected. The principal object of this issue is to raise
funds for carrying out these improvements.
/n addition to the foregoing security, the bonds have by the unconditional
guaranty of principal and Interest thereof by the American Water Works
surpu
Guarantee
l
tee Co. of Pittsburgh, which company has a paid-up capital and
d'
of 510,122,316. Its net revenue for the year ending April 30 1911
was $823,133, and It has, ever since the year 1889, regularly paid dividends
of not less than 6% per annum upon its capital stock. In support of such,
guaranty the American Water Works & Guarantee Co. has deposited with;
the Farmers' Loan & Trust Co., on the terms of an agreement dated Oct. 1
1910, securities of the total nominal amount of $12,042,500, In respect of
which the net earnings for the last financial years of the 11 companies whose
stocks are so deposited amounted to $651,000, or twice the amount of the
interest on the entire issue of 56.500,000 bonds.
These Irrigated lands are being sold on a deferred-Payment system, payments on account being made annually. The interest on the deferred payments provides funds to pay interest on bonds. No release Is given until
the final payment Is made, so that the security is constantly increasing,
both by the decrease of the mtge. debt and by improvements and cultivation.
Directors: A. A. Adams, J. S. Kuhn, W.S. Kuhn, J. II. Purdy, Henry
Brunner of Paris, He H. Burrage of Boston. W. B. McCain, H. W.Davis
and J. A. Lynch. Office, Pittsburgh, Pa.-V.92, D. 528.
Calumet & Hecla Mining Co.-Further Litigation.-Judge
Denison in the U. S. District Court at Grand Rapids, Mich.,
on Aug. 18, in the suit brought by John T. Jackson oi
AUG. 26 1911.
THE CHRONICLE
531
Central Electric & Gas Co., Portage La Prairie, Manitoba.
Wisconsin, issued an order restraining the Calumet & Hecla
Co. from voting on its holdings in favor of consolidation at -Proposed Purchase by City.-See "Portage La Prairie" in
the stockholders' meeting of the Laurium Mining Co. which "State and City" Department.
was to be held at Boston on Aug. 22. Compare annual
Central Fuel Oil Co., New York and San Francisco.report. V. 93, p. 284.
Bondholders' Meeting.-The holders of first mortgage 6%
An order was made, returnable Oct. 3, directing the defendants to show convertible gold bonds of 1910 will meet at the office of
cause why a preliminary injunction should not issue. The Ahmeek company is enjoined from executing or filing with the Secretary of State of the Bankers Trust Co., the trustee, 7 Wall Street, New
Michigan articles of association or taking any action towards the comple- York, on Sept. 14, to vote on rescinding and anuulling
tion of consolidation with Calumet & Hecla company.-V.93, p. 348, 284. the 15-year agreement
entered into between the comCampbell Flour Mills Co., Limited, West Toronto.- pany and the Texas Company, dated June 13 1910, and on
Merger.-Campbell, Thompson & Co., Toronto, offered on releasing said agreement from the lien of the mortgage.
July 6 $300,000 7% cum. pref. shares of this new company,
Under the aforesaid agreement the Texas Company had the right, in case
at par with a bonus of 25% in common stock. Incorporated of default by the Central Fuel Co. on the principal, interest or sinking
of the bonds, to advance the money to cure such default and to receive
fund
under laws of Province of Ontario. Auth. capitalization, all as security
for any advances so made a lien on the property covered by
issued: preference stock, $650,000; common stock, $650,000. the mtge. Inferior only to the lien of the bonds and coupons.
Disagreement with Texas Company.
No bonded or mortgage debt. An advertisement reports:
Properties: (1) Toronto Mill, capacity 1,000 bbls. of flour and 100 tons
of feed per day; is running day and night. (2) Peterborough Mill, purchased May 15 1911 from Central Milling Co.; capacity 400 bbls. of :flour
and 30 tons of feed per day. (3) New Mill; a site has been secured beside
the Aberdeen elevator (capacity 1,200,000 bushels) at Midland, Ont., 9
acres, Including water frontage of 500 ft., on which it is intended to erect a
new mill, capacity 1,500 bbls. a day, arranged for Increase to 3,000 bbls. per
day, without structural additions. Has acquired the business of the
Campbell Milling Co., which includes the mills and elevators at West Toronto and Peterborough. The mills, real estate, equipment, good will, &c.,
are valued at $325,024; from the shares now offered the company will have
about $300,000 to carry on the business and build the new mill, making
total assets of $825,040, there being no bonds or mortgages.
Earnings of Campbell Milling Co., after allowing for cost of management,
depreciation, &c.• 12 mos. ending July 31 1910, $41,975; 9 mos. ending
April 28 1911, $46,895. With the mill at Midland completed (early In 1912)
the net profits are estimated at $100,000; 7% pref. div., $45,500. Gross
sales of the Toronto mill: 1907, $545,103; 1908, $836,630; 1909, 51,108,966; 1910, $1,130,477.
Directors: Hon. Archibald Campbell (Pres.), D. A. Campbell, A. W.
Campbell, N. H. Campbell and E. 13. Thompson, all of Toronto; James
Playfair, Midland, Ont.; James Richardson, Kingston. Transfer agents
and registrar. Toronto General Trusts Corporation.
Canada Starch.Co., Ltd. Cardinal, Ont.-Bonds Offered.Montreal, are offering at'par and
C. Meredith & Co., Ltd. '
int. the unsold portion Of $300,000 1st M. 6% gold bonds.
A circular shows:
• Capitalization.-First M. 6% bonds 1930, auth., $500,000; issued,
$300,000; 7% non-cum. pref. stock, auth., $1,250,000; issued, $986,600!
Oommon stook, auth., $1,250,000; issued, $986,500.
Dtrectors.-Geo. F. Benson, Montreal (Pres. and Managing Director);
Chas. R. Hosmer and Hon. Robert Mackay, both directors Can. Pac. fly.
and Bank of Montreal, and William R. Miller and W. B. Blackader, all of
Montreal; Lloyd Harris and Jos. Ruddy (See.-Treas.), Brantford, Ont.;
Hon. J. R. Stratton, Peterboro, Ont.; James J. Warren, Toronto, Ont..
Managing Director Trusts & Guarantee Co. of Toronto.
Abstract of Letter from Pres. George F. Benson. Montreal, Dec. 28 1910.
• Incorp. under Canadian law Jan. 22 1906. Head office, Cardinal, Ont.;
sub-offices in Montreal and Toronto. Formed to acquire as going concerns
at Cardinal, Ont.,
(a) Edwardsburg St.rolf Co., Ltd., est. in 1858; the plant
is the largest in Canada and fully equipped with all modern improvements
for the manufacture of starch, glucose and corn syrup. (0) The Brantford,
(Ont.) Starch Works, est. In 1877. Works (rebuilt within two years) are
confined altogether to the manufacture of starch. Has also acquired the
plant and trade-marks of Imperial Starch Co. at Prescott, Ont. The plant
last named is not operated, as better results can be obtained by concentration of the business at Cardinal. This property, however, stands on the
books at a figure at which it should sell readily.
csillOf the bonds, $300,000 are now offered for sale, being less than 50% of
the appraised value of the properties. The remaining $200,000 can only
be issued for not exceeding 75% of actual cost of future additions or extensions. The bonds are dated Oct. 1 1910 and mature Oct. 1 1930,
coupons payable A.' & 0. Interest payable at Royal Trust Co., trustee,
Montreal. All or any part of the bonds may be redeemed Oat. 1 1915 or on
any interest date thereafter at$110 and int.
Audited statements show net manufacturing profits for the years 1908,
1907, 1908 and 1909 averaging over $90,000 annually, or five times the
interest on the bonds, and the statement as of Nov. :10 1910 shows a large
increase for this year. A valuation of the properties as covered by the
trust deed made by an appraisa company shows: Edwardsburg Starch
Co. plant, $537,094; Brantford Starch Works plant, $184,424; total,
*701,518. In addition the company has liquid assets of over $400,000 and
valuable trade-marks and brands. The proceeds from the sale of these
bonds are to be used in paying off the indebtedness and providing working
capital, so that the bonds in addition to being a charge on all the fixed
ssets, valued at $701,518, will also be more than covered by the liquid assets
Canadian Cottons, Ltd., Montreal.-Listed in London.The London Stock Exchange has listed <£339,000 1st M. 5s,
part of an authorized issue of $5,000,000 1st M. 5% gold
sulking fund bonds, dated July 2 1910 and due July 2 1940,
of which $3,800,000 will be outstanding upon completion of
the refunding of the prior bonds, namely the $2,000,000 old
6 per cents, due April 2 1912. The remaining $1,200,000
are reserved for future requirements.
Par £100 ($486 66) and £200 ($073 33) c. Int. J. & J. 2 in London
and in Canada at par of exchange. Sinking fund beginning July 1913 sufficient to retire all the bonds at par and int. The Canadian agency in London and the Royal Securities Corp., Ltd., in Canada last April offered
£370,000 of the bonds at 92 and int. stamped and at 93 and int. unstamped.
In Feb. 1911 holders of the *2,000,000 Canadian Colored Cotton (is due
April 2 1912 were offered,in exchange for each of their $1,000 bonds, one
of the new $1,000 Os of 1910 with $125 in cash and accrued int. Of the new
bonds, $1,800,000 were issued on account of the purchase of (a) the recently
completed properties of the Mount Royal Spinning Co. at St. Paul, a suburb
of Montreal, including bleachery, print works, &c., acquired by Canadian
Cottons, Ltd., for $2,646,380 and by it leased for 10 years from Sept. 1 1910
to the Dominion Textile Corporation at a rental of $165,000 per annum;
(b) Gibson Cotton Mills at Marysville, N. B., purchased for $795,890. The
company's properties, including the foregoing, cost to Jan.1911 $10,077,372,
and were then valued, less $2,652,257 for depreciation, at $7,425,115.
Extracts from Prospectus Issued in Jan. 1911.
•
1906.
1009.1908.
1907.
• Years end. Mch. 31. 1910.
3,446,667 2,354,608 2,967,338 3,172,841 2,896,554
Gross sales
262.186
257,576
Net avail. for bond bat. 258,445 233,367 358,859
With the exception of the years 1904 and 1905 (when no dividend was
paid), the Canadian Colored Cotton Mills Co. paid (on its $2,700,000 stock
-Ed.) a dividend at the rate of 4% per annum since 1899. (Under its present name the company paid Its second regular quarterly dividend of 1 A%
on Its pref. stock on July 4 1911.-Ed.1
Average profit past 6 years (ending March 31 1910), $261,921; Gibson
Cotton Mill, average (3 years), $55,520; Mt. Royal Spinning Co. (rental),
$185,000; total, $482,441; interest on bonds outstanding (the $3,800,000
new 5s) will amount to $190,000; leaving available for dividends $292,441.
Balance Sheet March 31 1911.
Liabilities ($13,588,182)• Assets ($13,588,182)$10,129,406 Pref. 6% (n.-c.) stock
Capital-Mills &c
150,000
_$3,575,000
(auth., $4,500,000) _
Bonds in treasury
21,859 Corn. stk.(auth.$3,500,000)2,715,500
Cash
• 763,096 es, due Apr 2 1912
2,000,000
Open accounts
• 2,524,021 5s, due July " 1940
1,800,000
Supplies, &c
10,000
Reserve for bad debts__ _
Loans, bills payable, &c
3,061,399
426,283
Surplus a,nd,profits
•For the 6 months ending March 31 1911 the net profits are said to have
been $232,020.-V. 92, p. 958.
The "011, Paint & Drug Reporter" of New York for Aug. 21 had the following from its field correspondent at Independence. Kan., dated Aug. 16
1911: "Probably the most important feature of last week's news was the
announcement that the Central Fuel Oil Co. had disconnected its 400 wells
from the Texas lines and returned to the Prairie Oil & Gas Co., which pipe
line is now taking the production of the Priestley merger wells, amounting
to over 8,000 bbis. a day. This is one of the outcomes of the recent difficulties between the Central and the Texas Company. It will be recalled
that the Central Company last January entered inte an agreement whereby
it was to deliver its production to the Texas Company and was to receive
89 cts. a bbl. for the same, paying the Texas Company $72,000 a month on
a basis of 18,000 bbls. a day for transportation charges. The Central was
never able to deliver 18,000 bbls. a day,and declined to pay $72,000 a month
for that amount of transportation, and for the further reason that the Texas
Company had expended only $900,000 of the $3,000,000 borrowed from the
Central for improving its pipe-line facilities. Thereupon the Texas Company refused to pay the Central anything for the oil it had run. It even
went into the Federal Court and sought an injunction to prevent the Central
from disconnecting its wells from the Texas line. When Judge Campbell
heard the evidence at Muskogee, he directed the Texas Company to pay the
Central Company for the oil it had received, and fixed the amount the Central should pay the Texas Company at 821,000 a month. The Texas Co.paid
$146,000 of the half-million it owed the Central Company, but the relations
of the two companies were more strained than ever. The next move was
for the Central Company to turn its production over to the Prairie, which
It was arranging to do when the preliminary injunction was served. What
the next move will be is uncertain. The death of John W. Gates seems to
have put the affairs of the Texas Company temporarily in the air. It is
not believed, however, that the Texas Company will push the matter very
ar."
(The Central Fuel Oil Co.was incorporated in Delaware on April 19 1910
with $21,000,000 of authorized capital stock in $100 shares, of which at
last accounts $15,000,000 was outstanding. The aforesaid mortgage is
limited to *6,000,000 of 6% bonds (55,250,000 outstanding),dated July 15
1910 and due July 15 1920, but callable by company (a) at par for the sinking fund, 10% but not less than $525,000 yearly, beginning in 1912; and
(5) as an entire issue on any int. date at 105 and int. after 30 days' notice;
also convertible at option of holder after July 15 1911 into stock, $ for $.
Par, $100, $500 and $1,000 (0). Int. J. & J. 15. P. & I. payable In
N. Y.at office of trustee, or in London at Union of London & Smiths Bank,
Ltd., at $4 88 2-3 to Z.
The company, we understand, owns some 10.000 acres of oil lands in
addition to the following capital stock holdings listed in the mtge. (the figures in parentheses are first the auth issue, second, if not all issued, the
amount outstanding. The capitalization is presumably in most cases
nominal): St. Lawrence Oil Co., Okla., $4,997 (510,000-55,000); Como Oil
Co., Ind. Ter., $14,900 ($20,000); Leola Oil Co., Okla., $19,925 ($20,000);
Knox 011 Co., Ind. Ter., $49,925 ($50,000); Leader Oil & Gas Co., kla.,
$27,925 ($64,000-$28,000); Lucknow 011 Co., Ind. Ter., $19,925 464,000$49,925 ($50,000); Monogram Oil
$28,000); Mohawk Oil Co., Ind.
Ter.,
Lumbermen's Oil & Gas Co., $49,925
Co., Ind. Ter., $15,550 ($25,000);
($50,000); Galena 011 Co., Ind. Ter., $49,925 ($50,000); Port Pitt 011 Co.,
Ind. Ter., $99,925 ($100,000); Wolverine Oil CO. Ind. Ter., $99,925
($100,000); Pickwick Oil Co., Ind. Ter.. $49,925 ($50,000); Niagara Oil Co.,
Okla., $40,000, A pref. (total, $150,000 auth.; Issued, $40,000 pref. and
N. Y.,$75,000, A pref.($600,000-$153,200)
$80,000 com.);Sachem 011
$45,600 ($130,000-$120,000); Wigwam Oil Co..
Waukesha 011 Co., Wis., Co.'
Wis., $45,800 ($120,000); Stevens Point Oil Co., Wis., $125,000 ($350,0005314,940)-Appleton Osage Oil Co., Wis., $26,600 ($70,000 auth.); Carnegie
Oil Co., Okla., $20,000 ($50,000); Sagamore Oil & Gas Co., So. Dak.,
$64,300 pref. and $115,300 corn. (total $500,000 auth.; issued, $172,046
pref. and $267,371 corn.); Copan Oil & Gas Co., $8,000 ($25,000). Pres.,
W.S. Porter, and V.-Pres., W. A. Sloan, San Francisco; Vice-Pres. and
Gen. Man., Geo. C.Priestly, Bartlesville, Okla.; Sec.-Treas., Wm.Letson.
Central Home Telephone & Telegraph Co.-See Louisville
lime Telephone Co. below.-V. 89, p. 1485.
Champion Lumber Co.-Bonds.-This company's bonds
were originally purchased by Clark L. Poole & Co. and A. B.
Leach & Co. Compare V. 93, p. 410.
Cleveland (0.) Stone Co.-Balance Sheet of Nov. 13 1910.
-As filed in Massachusetts:
MG.
1909,
1910,
1909.
$
i
LiabilitiesAssetsCapital stock __3,000,000 3.000,000
Real estate and
machinery __ _3,600,000 3,800,000 Accts. payable__ 558,456 429,633
202,967
Merchandise and
Profit and loss..
materials ___ .. 240,679
272,504 Funded debt..__ 611,000 843,000
581,172
155,617
Cash&debts reo_ 909,949 818,713 Surplus
Total
4,750,628 4,601,217
Total
4,750,628 4,691,217
Merger of Sub-Cos.-Bonds.-See Indiana Quarries Co.
V. 92, p. 1035.-V. 90, p. 1330.
Cockshutt Plow Co., Ltd., Brantford, Ont.-Stock Offering.-This company is incorporated under the Canadian law
with $15,000,000 of authorized capital stock, viz.: 7%
cumulative preference shares, $7,500,000; common shares,
$7,500,000. Now issued, $5,000,000 of each. Parr's Bank,
Ltd., in London last May received subscriptions at par on
behalf of the West Canada Trust Co., Ltd., for $3,750,000
preference shares of $100 each, part of the issue of$5,000,000,
of which the remaining $1,250,000 were taken by the shareholders of the old company in part payment of the purchase
price. An abridged prospectus showed:
The pref. shares on a winding-up are entitled to repayment at 120%
in priority to the ordinary shares. No bonds may be issued nor charges
created on the real estate, &c. (other thana mortgage of $37,000 on Winni-'
peg property), except with concurrence of holders of two-thirds of the
preference shares. All shares have equal voting rights. The by-laws
forbid dividends on the ordinary share capital In excess of 5% per annum
(non-cum.) until a reserve of $1,500,000 has been created. Dividends will
be payable quarterly in London and Montreal at 54 86 to the XL
The company acquires the undertaking of the Cockshutt Plow Co. (est.
nearly 30 years ago) and is entitled to the profits of the business for the year
ending June 30 1911, subject to paying interest on the purchase consideration from July 1 1910 to completion of purchase. The balance of these
profits, together with the sum available out of the proceeds of the shares
now offered, should provide additional capital of approximately $900.000,
of which about $400,000 have been spent during 1910-11 in the further
extension of the plant.
The company is one of the largest makers of agricultural implements in
Canada. Its sales for the 7 months to Jan. 31 1911 were nearly double those
532
THE CHRONICLE
for the corresponding period of the previous fiscal year, and the profits
earned in 1910-11 will be more than double those of 1908-09. With the
great influx of new settlers our manufacturing resources are taxed to the
utmost to care for the needs of our Canadian farmers. Our foreign trade
Is steadily increasing; one foreign order alone, now in hand, is for over
11,000 implements. We also handle the outputs in the Northwest of
Canada of the Adams Wagon Co. of Brantford and the Brantford Carriage
Co., and we lately felt it wise to secure control of the business of an important Canadian concern manufacturing harvesting machinery.
In addition to the fixed assets, which include the large works at Brantford, valuable warehouses at Brantford, Winnipeg, Calgary, Saskatoon,
Edmonton, Regina, Brandon and Red Deer, the surplus liquid assets, after
meeting all liabilities, amounted June 30 1910 to $1,873,191. Public
accountants report that the profits earned, after providing for depreciation,
but before charging interest and directors' fees, were for years ending
June 30: 1907-08, $225,427; 1908-09, $403,485; 1909-10, $675,110. On
the basis of the first nine months the profits for the year ending June 30
1911, after depreciation, should be more than two and a half times the
amount necessary to provide the dividend of 7% on the whole $5,000,000
preference shares now issued.
(Vol, Lxxxxiii.
Croisic Realty Co., N. Y. City.—Guaranteed Bonds Offered.
—Farson, Son & Co., New York and Chicago, have recently
been placing at par and int. an issue of $200,000 6% mortgage
gold bonds, dated April 1 1911 and due Oct. 11915,. but callable as a whole on or after April 1 1913 at 101 and int. Par
$1,000 c*. Guaranteed, p. & i., by Louis M. Jones, Thomas
W. Jones and Charles E. Jones, "together estimated to be
worth at least $1,000,000, exclusive of their equity in this
property." Trustee, Lawyers' Title Insurance & Trust Co.,
N. Y. City. Tax-exempt in N. Y. State.
Condensed Statement by Secretary Charles E. Jones, N. V., June 12 1911.
A N. Y. State corporation owning in fee simple the Crolsio Building.
218 and 220 5th Ave., corner of 26th St., N. Y. City; a modern fireproof
20-story office building of steel construction, covering approximately
7,200 sq. ft. A prior mortgage to the Metropolitan Life Insurance Co. of
N. Y. City for $1,200,000 is due and payable Oct. 1 1915. Estimated
annual gross rental (exclusive of sale of light and power from company's
plant) is about $250,000. Deduct interest after completion of building
at 53% on $1,200,000, $66,000; taxes and maintenance, $85,000; interest
on these $200.000 bonds at 6%, $12,000; balance, surplus, $87,000.
Connecticut Power Co., New York.—Status.—This company, we learn, has paid its interest promptly to date on its
"1st M. 5% 50-yr. gold bonds," dated July 1 1906 and due
July 1 1956; interest J. & J. at Trust Co. of America,N. Y.,
Cumberland Telephone & Telegraph Co.—Favorable Detrustee. Par $1,000.
cision.—Judge Walter Evans in the United States Circuit
The officials are reticent, but we learn that the mortgage was made in
1906 to the Colonial Trust Co. of N. Y. (now Trust Co. of America), as Court at Louisville, Ky., on April 24 granted an order entrustee, to secure such an amount of bonds as the directors shall authorize for joining the city from enforcing the ordinance adopted by the
the purchase of any steam railroad, street railway or other transportation
companies, or of any electric-light, heat, power and gas company, or of any General Council in February 1909 on the ground that the
business beneficial to its interests, or for the purchase of any property, real rates fixed by the measure were confiscatory.
or personal, for the purposes of said corporation, including stock or bonds
of any such companies. The immediate issue of bonds was to be $525,000,
sufficient bonds to be reserved to exchange any outstanding bonds on
properties acquired.
The company was incorporated in Connecticut May 23 1899 as the Marine
Power Co., by a special charter of the General Assembly, with $50,000 stock
(par $100 a share) and acquired.and nowowns. stock of the New London
Gas do Electric Co. (V.78, p. 232); also certain land and water privileges in
the towns of Canaan and Salisbury, Conn. on the Housatonic River obtained by deed from the Falls Village (Conn.; Water Power Co., which many
years ago was a mill. There Is stated to be a good fall on the property,
but no dam and no actual water power. The security for the bonds is, it is
understood, confined to the equity in the New London Gas & Electric Co.
The Connecticut Power Co. has no interest In the Berkshire Power Co. and
is not operating any power plant so far as known. W. G. Bushnell is Pres.
and A. M. Young, 30 Church St., New York, is Treas.
The Court holds that the present rates are equitable and finds that the
valuation as fixed by the master is too low.
The rates as fixed by the ordinance were: For a single or private line,
unlimited service (business). $5 50 per month or $66 per year; for a
party line, unlimited service, $4: for each telephone in residences for a
single or private line, unlimited service, $3 per month or $36 per year, and
for a party line, unlimited service, $2 per month, or $24 per year; for each
extension desk telephone, $1 per month or $12 per year.
The Court says that the company's rates do not and most probably will
not in the near future yield 7% and that therefore the ordinance rates,
which are about 30% lower than the present rates, cannot possibly do so,
and further: "Nor do we think It possible, under existing circumstances,
nor under circumstances which will probably arise in the future, that the
line of division between possible confiscation and proper regulation will be
a narrow one within the meaning of the Supreme Court decisions In such
cases."—V. 92, p. 599, 392.
Connecticut River Company, Windsor Locks, Conn.—
Development Co. of America.—Receivers for Sub-CompanBonds.—The Committee on Corporations of the Connecticut ies—Sale of Securities.—The Imperial Copper Co. and the
Legislature has reported favorably on a bill to authorize the Tombstone Consolidated Mining Co. were recently placed in
Connecticut River Company (not Connecticut River Power receiver's hands preparatory to reorganization.
Co.—compare V. 93, p. 410) to issue bonds to the extent of
"Engineering & Mining Journal" N. Y. City, July 8 said:,
$5,000,000 in connection with a proposed hydro-electric
In order to satisfy creditors of the Development Co. of America, the
development at Windsor Locks, Conn.
following securities were sold at auction in New York June 28 for $100,000:
$1,015,000 Imperial Copper Co. 6% bonds; $90,000 Development Co. of
Amer. 15-year 6% gold trust bonds; $250,000 Tombstone Consolidated
Mines Co. 6% special contract bonds; 100,000 shares Tombstone Consolidated stock; $725,000 demand notes of the Imperial Copper Co. and $1,500,000 of Tombstone Consolidated demand notes. It is stated that these
securities were bought by interests friendly to the Development Company.
[Being probably representatives of the holders of the $1,545,716 notes, as
collateral for which the securities named were pledged. The total outstanding floating indebtedness of the company and its subsidiaries is about
$2,980,000. Including the one-year notes of 1910, but omitting inter-com
pany items and interest accrued and unpaid. There are also outstanding
and In default 33,718,200 collateral trust bonds and certain fixed interest
bonds of the Imperial Copper Co. F. M. Murphy and B. P. Cheney, It Is
reported, recently retired from the management.—Ed. "Chronicle."]
The Subsidiary Companies.
The Development Co. was Incorporated in Delaware Nov. 22 1900
with authorized capital stock of $4,000,000. It subsequently acquired
the entire stock of the American-Mexican Lumber Co. and the Congress
Consol, Mines Co., Ltd., and controlled the Poland Mining Co., Lookout
Copper Co., Imperial Copper Co. and the Tombstone Consol. Mines Co.
The Amer.-Mex, Lumber Co., owning 500,000 acres of pine lands in
Chihuahua, Mex., is capitalized at $5,000,000. [Entire capital stock was
sold in 1909 to the Pearson interests.—Ed."Chronicle.") The Congress Cons.
Mines Co., Ltd., capitalized at $5,000,000, owns a gold mine in Yavapal
Ariz., the workings of which extend to 2,050 ft. below surface; equipped
Consolidated Fuel Co. of Utah.—New Bonds.—A mortgage Co.,
with two 40-stamp mills, cyanide plant, &o. In 1906 and 1907 $150,000
was recently filed by this company and its controlled corpora- in dividends was paid to the Development Co.
The Poland Mining Co. Is capitalized at $4,000,000, of which the Develtion, the Southern Utah RR. Co., to the Utah Savings & opment
Co. owned $1,456,380. There have also been issued $1,000,000
Trust Bank, as trustee, to secure an issue of $600,000 bonds, 7% income bonds. The property is In Yavapai Co., Ariz., and the veins
were worked to a depth of 900 ft. The 20-stamp mill shipped iron concento be used in retiring the bonded debt of the two companies, trates
to the Sasco smeltery and lead concentrates to the smelting plant at
amounting to $375,000, and to provide for improvements Needles. The Lookout Copper Co., capitalized at $2,000,000, of which the
Development Co. of America owned $1,700,000,owns properties In Yavapai
and enlargements. The railroad extends from Price, Utah, Co.
The Imperial Copper Co. is capitalized at $7,000,000 and has issued
on the Denver & Rio Grande RR. to Hiawatha, Utah, 22 $2,000,000 income bonds; the Development Co. of America owned $2,706,640 stock and $1,040,200 Incomes. The Imperial owns all the stock of the
miles., and its President is F. A. Sweet.
Arizona Southern RR. Co. and the Southern Arizona Smelting Co. The
Ariz. Shipments began In Sept. 1904
Consolidated Rubber Tire Co.—Favorable Decision.— mines are at Silverbell, Pima Co., produced
and to Sept. 30 1910 the mine had
lbs. of copper and
Judge Holt, in the United States Circuit Court, in this city 508,000 oz. of silver, as well as some lead. 45,800,000
Three dividends of $100,000
on Aug. 11 signed a decree in favor of the company and the each were paid in 1906 and 1907. The smeltery at Sasco was blown in early
in 1908. The Tombstone Coivolidated Mines Co. is capitalized at $15,Rubber Tire Wheel Co. in the suit brought against the 000,000,
of which the Development Co. of Am. owned $8,005,475; the
Pennsylvania Rubber Co. of New York for infringement of Income-bond issue was $3,000,000 at 6%. The 67 mining claims owned
by
the
company
are at Tombstone, Cochise Co., Ariz.
two patents granted to Arthur H. Grant.
The Discovery of Tombstone—The Water Problem.
An injunction is granted restraining the defendants from any further in
Tombstone
was
discovered in 1878. The ore contained gold, silver and
fringement and directs that the plaintiffs obtain judgment for profit
secured by the defendants by the manufacture and sale of the infringe- lead. At first the sliver was the principal constituent, but as the workings
d3vice, and appoints U. S. Commissioner Shields as Special Master to ascer- were extended,the proportion of gold to silver rapidly increased, so that the
tain the amount of these damages. Compare V.92, p. 1034.—V.92,p.1245. value of the gold greatly exceeded that of the other metals. The camp beone of the largest in the Southwest and produced about $35,000,000.
Consolidated Tobacco Co.—Deposits Called.—See adver- came
At a depth of 560 ft. the water flow became so great that the miners were
tisement on another page; also American Tobacco Co. above. obliged to quit.
About nine years ago E. B. Gage and associates brought together the
—V. 93, p. 348.
Principal properties and funds were raised through the Development Co. of
America
to install the pumping equipment and to provide for developments
• Corona City (Cal.) Water Co.—Bonds.--The Wm. R.
on the deep levels. A modern four-compartment shaft, equipped with a
Staats Co., Los Angeles, San Fr., &c. recently offered steel
headframe. was sunk to the 560-ft. level, where a station was cut for
of 700 ft e anat par and int. the total issue of $60,000 1st M. 6% serial Pumps capable of raising 1,750 gals, per minute. At a depth
other pumping station was equipped and a third at the 800-ft. level. At
gold bonds unconditionally guaranteed as to principal the
1,000-ft. level a large pumping plant was built.
'by Temescal Water Co.; dated July 1 1911 and
Upon reaching the 1,000 ft. level, drifting wasstarted to out under those
and interest,
parts of the mines from which the $35,000,000 was produced. Oil was being
due $5,000 yearly on July 1 beginning in 1912. Par $1,000. used
as fuel. An accident occurred to the fuel-supply pipes and the water
Int. J. & J. at Los Angeles Trust & Say. Bank, Los Angeles, rose to the 800-ft. level. An attempt to recover the pumps on the 1,000
was unsuccessful, and the installation on the800ft.level was then enor Bankers' Trust Co., N. Y. Trustee, Title Ins. & Trust Co. level
larged, practically duplicating that on the 1,000 ft. level. Just as the 1,000ft.
of Los Angeles. Tax-exempt in California. A circular says: level pumps were being recovered, another accident occurred to the boiler
• incorp. Sept. 27 1897. Furnishes water for domestic use in city of Corona Plant and the water again rose to the 800 ft. level. The lowest pumps were
through ownership of 500 shares of stock of the Temescal Water Co., recovered, however, and drifting to the ore was resumed. The total pumioensuring a pro rata delivery of about three times the amount now required' lag capacity was 10,000,000 gals. per day. Compare V. 76, p. 975;
also owns and holds In reserve 239.29 acres of the best water-bearing land V. 91, p. 947.
in the Temesoal Valley, which, It Is estimated, will alone furnish more than
Dinunick Pipe Co., Birmingham, Ala.—Sale Approved.—
a necessary supply for the city and its future growth. Value of security:
Distributing system, $39,689; Moody ranch,(239.29 acres) $60,000; 500 The stockholders have ratified the sale of the plant to the
shares stock of Temescal Water Co., $57,500; total, $157,189. Actual cash
United States Cast Iron Pipe & Foundry Co. for the sum of
nvestment, $132,561.
Gross earnings year 1910 (including rents from Moody ranch, $1,438), $293,000, subject to the $179,000 outstanding bonds. Ex*17,034; net, after taxes, $9,480. Estimated for 1911. gross, $19,000:
made.—V. 80, p. 1114.
net, $11.500; bond int., $3,600; bal., sur., $7,900. Population of Corona tensive improvements may be
in 1910 was 3,545: increase in 10 years, 75%.
Dominguez Estate Co., Los Angeles, Cal.—Bonds GuarThe Temescal Water Co. which owns the entire capital stock ($75,000)
anteed by Water Co.—J. H. Adams & Co., Los Angeles and
guarantees the bonds. [See that company below].
The Connecticut River Co. was organized in 1824 or 1834, and owns
a 5-mile canal around Enfield Falls, Conn.; auth. capital stock, $1,000,000,
of which $203,500 is outstanding. Total debt in Oct. 1910, $50,000.
Plans look to the building of a new darn at Windsor Locks and the installation, at a cost of about $4,500,000, of a hydro-electric plant of perhaps 20,000 h. p. capacity. Arthur D. Coffin of Windsor Locks is President and Leon P. Broadhurst of Hartford, Conn., is Sec. and Treas. At
a meeting of the stockholders held Dec. 22 1910 it was voted to accept the
amendment of the charter granted by the Connecticut Legislature, authorizing the proposed hydro-electric development. The minority vote (738
shares) consisted largely of the holdings of the Northern Connecticut Securities Co., which owns 600 shares bought from the Connecticut River Banking Co. 50 shares bought from the Aetna Insurance Co.. &c. Two bills
have been introduced in Congress providing for the building of a new dam
for power and navigation one In behalf of the Connecticut River Co. and
the other in behalf of the Northern Connecticut Co.,the latter representinn
the minority stock.
The "Electrical World" of New York, In Vol. 55, No. 1, contained an article regarding the Northern Connecticut Light & Power Co., which now
supplies hydro-electric power from a plant at Windsor Locks to Thompsonville, Windsor Locks, Hazardville, Warehouse Point, Broad Brook
and South Windsor, a total population of 22,000. Capital stock auth.,
*500,000, in $100 shares; issued, it is said, $250,000 corn., $150,000 pref.
First mtge. 40-year 5% bonds authorized, $350,000.
AUG. 26 1911.]
THE CHRONICLE
533
San Francisco, some time ago • offered $400,000 1st M.
and coll, trust gold 6s, unconditionally guaranteed, prin. and
int., by the Dominguez Water Co. A circular says:
1912 at 10234 and int. in the reverse order of their maturity. Trustees.
Mich. Trust Co., Grand Rapids, Mich., and Frederick A. Yard, Chicago.
Int. A. & 0. In Grand Rapids and Chicago. Par $500 and $1,000 (0').
A closed 1st M. on property located in Vilas and Forrest counties.
Wis., consisting of almost 22,000 acres of timber lands, saw-mill, planing
Date March 1 1911, due March 1 1921, but callable all or any part in mill, electric-light plant, water-power plant, stores,and some 90 dwellings.
numerical order on or after March 1 1912 at 102 y, and int. Par $500 . Valuation of security as appraised by J. P. Brayton, Chicago: Standing
Int. M. & S. at Los Angeles Trust & Savings Bank, Los Angeles, or at timber owned in fee, $850,372; lands, $129,536; logging outfit, saw-mill,
Bankers Trust Co., N. Y. City. Capital stock issued, $500,000; 1st M. planing mill, electric-light plant, &c., $120,000; town site of Hackley (on
bonds, all issued for betterments, $400,000.
Ch. & N. W. Ry.), $115,000; total fixed assets. $1,214,908. Quick assets.
The company's property, appraised at $1,052,544, totals 3,329 acres; cash, bills and accounts receivable, lumber on hand, &c. Auditor's rethe largest tract, 2,279.35 acres, is partly within the corporate limits of port April 20 1911, $364,775; other assets, $32.048; grand total,
' $1,611,731.
Los Angeles. These bonds are further secured by pledge of 3,333 shares
The sale of these bonds will liquidate all bills payable for money borof the capital stock of the Dominguez Water Co., being the stock which rowed.
guarantees to the lands a sufficient amount of water to change them
The average yearlycut for a period of years has been over 12,000,000
from grain lands to irrigable citrus and market-gardening lands of high which would provide $30,000 for the sinking fund, an amount $5,000 in ft.,
exquality; upon the sale of land, the accompanying stock may be released on cess of the greatest maturity payment. A payment of $3 an acre must
payment of $30 per share to the special trust fund for redemption of bonds. also be made to th csinking fund before any cut-over lands are released.
The Dominguez Water Co. is a mutual water company with a capital
Directors.-W. A. Phelps, Pres.; Henry Idema and Dudley E. Waters
stock of $1,000,000, held entirely by the Dominguez family and the Domin- of Grand Rapids, V.-Ps.; C. A. Phelps, Treas.; Otis A. Feigcr, Sec.; J. H.
guez Estate Co. whose several propeRies it will supply with water. The Bonnell, R. S. Barnhardt.
with
airconsist
of
20
wells
plant
will
The
company has no
'bonded debt.
The company pays dividends to its stockholders of 6% per annum, belifts and collecting pipes; 2 pumps,combined capacity of 11,000,000 gallons; sides having accumulated a surplus account of $281,745.-V.98, p. 410.
48,780 ft. of force mains to two reservoirs of 15,000,000 gallons capacity
Hamilton (0.) Gas & Electric Co.-Bondholders' Committee.
one
in
the
northern.
Maximum
and
lift
each, one in the western portion
will be less than 100 ft.
-W. E. Hutton, Stanley Matthews and Joseph Kelly have
Officers of Estate Co.: H. W. O'Melveny, Pres.; James J. Watson, Sec.;
been appointed a committee to make an investigation into
K. Cohn & Co., Inc., Treas.
East Ohio Gas Co., Cleveland, 0.-Interest of Columbia
Gas & Electric Co.-See that company in V. 92, p. 1560.V. 92, p. 661, 325.
Fort Worth (Texas) Power & Light Co.-Bonds Offered.Harris, Forbes & Co., N. Y., N. W. Harris & Co., Inc.,
Boston, and the Harris Trust & Savings Bank, Chicago, are
placing at 97 and int. $1,500,000 1st M. 5% gold bonds
dated Aug. 1 1911 and due Aug. 1 1931, but redeemable at
105 and int. on any interest date. Par $1,000 (c*) Int.
F. & A. at fiscal agency in N. Y. or at Citizens' Savings &
Trust Co., Cleveland, Trustee.
the operations of the company,with a view to suggesting the
best way to safeguard the interests of the bondholders. The
committee is instructed to report on Sept. 12.
The company has been operating Its plant at a loss for some time, due.
it Is said, to competition with a plant operated by the city of
Hamilton. A suit is pending against the city to prevent It from operating
the municipal plant on the basis of present rates, which are stated to be so
low that the city operates at a loss. The company has 100 coke ovens.
only 30 of which, it Is said, are now operating.-V.93, p. 411, 167.
Harmony Mills, Cohoes, N. Y., and Boston.-Pref. Dividend No. 2.-A 2nd quarterly dividend of 1% was paid
on the preferred capital stock Aug. 11911.
Incorp. in Mass. March 14 1911 with $1,500.000 of 7% cumulative pref.
Abstract of Letter from President A. J. Duncan Jr., Ft. Worth, Aug. 16. stock and $1,500,000 common stock, both completely subscribed, $900,000
of the pref. having been placed by Hornbiower & Weeks; issue price $108.
The company was incorporated in Texas July 14 1911 and acquired all The pref. stock is preferred
both as to assets and earnings and is callable at
the electric-light and power properties and rights operated in Ft. Worth $125 on or after Feb. 1 1916. No bonds and no mtge. Par of shares $100.
(properties bought by the J. It. Nutt Co. of Cleveland. Sec V. 93, p. 167;
Took over the plants of the Harmony Mills of N. Y., at Cohoes, N. Y.,
V. 91, p. 792). It now does the entire commercial electric-light and power consisting of three groups of mills,
containing a total of 240,000 spindles,
business of the city, and furnishes electric power to pump the city's water a d tenements for employees, assessed
for over $700,000. Power is oband light the streets. Total population served estimated about 85,000.
tained from the Cohoes Co., which owns the flow of the Mohawk River.
CapitaltzationAuthorized. Outstanding. Pending the installation of
its
new
the mill will not be run at
machinery,
$2,760,000 $2,760,000 capacity, and arrangements have
Common stock
therefore been made to set aside sufficient
800,000
800,000 funds to assure the first 18 months'
Preferred 7% cumulative
dividends on the pref. stock. Produces
(present
issue)
on
property
now
owned
or
5s
M.
1st
cloths and converting goods.
hereafter acquired
10,000,000
1,500,000 print
Directors: Pres. George A. Draper,
Mass.; Treas., Albert
The remaining $8,500,000 bonds in escrow may be issued from time to Greene Duncan, Boston; Hon. Eben S. Hopedale,
Draper, Frank J. Hale, R. Paul
to
the
par
value
of
80%
of
the
time
cash cost of permanent extensions and Snelling, Robert F. Herrick and Henry Hornblower,
all of Boston; Lorenzo
Improvements, providing that the net earnings for the preceding 12 months Semple, Cohoes, N. Y.; Thomas W. Slocum.
New York.
have been at least equal to twice the interest charge, including the bonds
proposed to be issued. The property already represents a large investment,
Harrisburg (Pa.) Electric Service Co.-New Company.and, in addition thereto, $900,000 of the proceeds of the present issue will
be expended on the construction of a modern power plant and on other This company was incorporated in Pennsylvania on July 25
betterments and improvements. Sinking fund, beginning 1914, of 1% of with nominal ($5,000) capital stock to take over the property
the amount of the bonds outstanding each year from 1914 to 1916, then
the control of the Harrisburg Electric Light, Heat &Power
154% yearly from 1917 to 1919 and 2% yearly from 1920 to 1930, to be or
Co. On Aug. lithe stock issue was increased to $2,000,000,
either invested in extensions and improvements, or are to retire bonds.
Earnings of Consolidated Properties Years ended June 30-1911-12 estimated. $1,000,000 to be 6% cumulative preferred.
1910-11. 1911-12.
1910-11.
An offer of $25 in cash and $25 in the 6% cumulative preferred stock of
Gross earnings_ __ _$489,085 $550,000 Int. chg. on $1,500,000 1st 58475,000
the new company was recently made for each of the $50 shares of the capital
178,678 233,750 Balance, surplus
Net earnings
103,678 stock
of the old company contingent upon the deposit of over 85% of the
Gross Earnings, Showing Increase Operating Independently in 1908-11.
$1,000,000 Issue by Aug. 15. There are also $1,000,000 5% bonds due
• •
1908-09.
• • • - 1909-10.
1910-11.
July 1 1924 outstanding. Int.J. &J., at Commonwealth Trust Co.,Phila.
1911-12
$304411
$418,285 • • •
$489,085 • • •
The new company has no bonds at present. There Is another electric
est. $550,000
With the many economics effected and to be effected, through the build- company In the city, called the Paxtang Electric Co. (V. 80, p. 1224),
ing of the power plant, the placing of the distributing system underground which, it is thought, may also be absorbed.
within the fire district, and the other proposed improvements, the earnings
Bertron, Griscom & Jenks of N. Y. are interested in the new company.
from now on should show continued and substantial increase. The com- The certificate of increase of stock was signed by Warren B. Hunting, Baltipany has recently obtained the contract to furnish electrical power for the more; George Core, John F. Sweeney, F. T. Homer and E. B. Mitchell,
city's new water pumping plant and for all other pumping stations. It is Harrisburg.-V.83, p. 1382.
estimated that it will require 1,500 h.p. to operate all of the city wells, and
-Harrisburg (Pa.) Light, Heat & Power Co.-Sale.-See
that when all of the wells are electrically equipped,our gross earnings from
this source will amount to $150,000 annually. The new contract,also,for Harrisburg Electric Service Co. above.-V. 83, p. 1382.
supplying the power for lighting the city's streets, covers a large number
Holland (Mo.) Sugar Co.-Consolidation.-See St. Louis
of additional lamps.
The new steam station will be a thoroughly modern steel and concrete Sugar Co. below.
structure of 8,600 k.w. capacity, and it will replace two of the three present
existing generating plants, while the third, of 975 k.w. capacity, will be
Idaho-Oregon Light & Power Co,-Finances.-The comheld in reserve. This station will be located on the Trinity River at a point
where a large body of water has been impounded by the building of a clam. pany authorized late in 1910 an issue of $10,000,000 "conThe company has given this dam to the city and the city has granted the solidated first and refunding mortgage" 6% gold bonds,
company the perpetual right to use the water for condensing purposes.
This gives the company the only power-house site available in the centre dated Nov. 1 1910 and due Nov. 1 1940, but redeemable at
of distribution where there arc both water and transportation. The com- 105 and int. as a whole or in part (by lot) on any interest
pany's franchise extends, in opinion of counsel, until 1935,and is free from
date after May 1 1915, up to and incl. Nov. 1 1924 and at
burdensome restrictions.
Fort Worth is one of the most prosperous cities of the Southwest, its 1023/ and int. on and after May 1 1925. Int. M. & N. in
popu ation being 73,312 in 1910 (Increase over 174% since 1900) and with
the adjoining suburbs served about 85,000. Assessed valuation, $55,425.- N. Y. and Chicago. Windsor Trust Co. of N. Y., trustee.
120 in 1910; $21,306,785 in 1900. Has 12 trunk lines and 17 railway out- Par 81,000,8500, $100(c*). The original intention was to sell
lets. Its packing houses have a capacity of 2,000 head of cattle and 5,000
hogs per day and do an annual business of $75,000,000 and employ 5,000 $2,700,000 of these bonds in order to complete the Ox Bow
people. Has 16 grain elevators, capacity 2,155,000 bushels daily, 95 miles development. This plan, however, was modified, and it is
of street railway and 16 national banks and trust companies with resources
not known to what extent, if any, the new bonds were certiof over $26,000,000.
Preferred Stock Offered.-Several well-known firms are fied. The underlying bonds can all be retired in 1915 and it
offering at par ($100) and int. a block of the $800,000 7% is said that a new financial plan is in contemplation under
cum. pref. stock, pref. as to assets and dividends. Redeem- which new 1st M. bonds will presumably be issued.
able at the option of the company at 115% of par upon any Abstract of Letter from Pres. Wm. Mainland,Oshkosh, Wis., Feb.25 1911.
The company has authorized this issue of $10,000,000 "consol. first and
dividend date on 60 days' notice. Dividends payable quar- ref.
mtge." 6% gold bonds in order to provide for the completion of the
terly, Nov. 1, &c. Standard Trust Co. of N. Y., transfer Ox Bow power development on the Snake River (34,000 h.p.) and for the
refunding of its present mortgage indebtedness and that of its constituent
agent; Knickerbocker Trust Co., N. Y., registrar.
companies-$3,089,000 in all-and also under conservative provisions to
This pref. stock was purchased by the Electric Bond & Share Co., N. Y.,
and sold by it to Miller & George, of Providence., H. L. Nason & Co. and
Richardson, Hill & Co., of Boston, Richter & Co., of Hartford, and George
P. Bissell, of Philadelphia. among others.
Goshel Coal Co., Cleveland.-New Stock.-On Jan. 20 a
certificate was filed increasing the capital stock from $800,000 to $1,000,000.-2---V. 90, p. 375.
Greenville Carolina Power Co.-Control-Bonds.-This
company's entire common stock ($250,000) is owned by the
Southern Power Co. See V.92, p. 1640. There are also outstanding $200,000 pref. stock and about $300,000 1st M. 53,
dated 1905. Compare V. 85, p. 224.
Hackley-Phelps-Bonnell Co.-Wisconsin Timber Bonds.Status.-A circular issued in May last in connection with an
offering of the $330,000 1st M.6% sinking fund timber gold
bonds, dated April 1 1911, $100,000 of which were recently
advertised for sale by Yard, Otis & Taylor, Chicago (V. 93,
p. 411), said in substance:
Due annually from Oct. 1 1912 to Oct. 1 1925, $15,000 In 1912, $20,000
its 1913 and 1914, thereafter $25,000 yriy.. but callable on and after Oct. 1
provide for future acquisitions, extensions and betterments, for which
$4,211,000 bonds are reserved. It is the company's purpose to refund the
underlying bonds as soon as practicable and I believe that not later than
Aprli 1 1915 this new mortgage will be the first andt only lien on the cornerfo
.er o
stwa.notion.g6bsrds
ga
llg
oes
wi:nirdasha
olsrte.
oILtth
se.d)Tmho
tanni
'
er
sl properties.
etrctlioes
$2,474,000, and 5s, $76,000, all optional April 1 1915; BoisePayette River Elec. Power Co. fis„ optional, now $488,000;
Electric Power Co., Ltd., 6s, optional, now $16,000; Interstate
$3,089,000
Lt. & Water Co. 5s, can be acquired, now $35,000
Capital Stock Outstanding.
6% cumulative pref. stock (pref. as to assets and dividends).
authorized, $2,500,000; outstanding
$628,700
5,145,450
Common stook, authorized, $7,500,000; outstanding
Earnings for Calendar Year,
1909.
1908.
1910. 1911 (est.) 1912(est.)
$198,412 $214,675 $297,946 $548,702 $1,048,000
Gross income
$124,645 $149,885 $224,947 $463,702
$898,000
Net earnings
'81,189 a166,947
Interest charges _ _ *71,756
256.290
346,290
36,470
36,470
60,000
Pref. dividend 6%,_ 17,631
90,000
$35,258
$32,226
$21,530 $147,412
Net surplus
'$461,710
• • Fart of this interest is properly chargeable to construction account.
a Of this interest, $106,920 is for bonds issued for uncompleted work, the
first installation of which will be in operation about June 1 1911.
Earnings for 1911 are calculated as from the sale of the 4,800 h.p. now in
operation and the additional power available this summer. rn 1912. int.
534
THE CHRONICLE
and pref. dividend charges are calculated on the basis of the completed
Ox Bow development [increasing the salable horse-power from 4,200 to
38,200-Ed.], while the earnings are figured from only one-halt of the
salable power of the Ox Bow.
The company owns the entire capital stock of BoIse-Payette River El. F"
Co., Capital Et. L., Motor & Gas Co., Electric Power Co., Ltd., the Interstate L. & Water Co., and thereby owns and operates all of the electric
light and power systems in Boise (under perpetual franchise), Meridian,
Emmett, New Plymouth and Payette, Idaho, and in Ontario, Ore. Also
delivers power to the municipality of Weiser, Idaho, under a 20-year contract. The hydro-electric developments are: (1) Plant in operation at
Horse Shoe Bend, on Payette 11,1ver, 20 miles north of Boise, capacity
2,400 h.p.; (2) plant in operation on Boise River, 6 miles above Boise,
capacity 1,400 h.p.; (3) plant in operation on Boise River, in South Boise,
capacity 400 h.p.; (4) plant under construction at Ox Bow, on Snake River,
incl. numerous sub-stations and more than 150 miles of transmission lines.
Approximately $2,000,000 cash has been expended by the company on this
particular development to Dee. 1 1910, and when completed it will have a
capacity exceeding 34,000 h.p. (5) Undeveloped water power, on Big
Salmon River, capable of producing 20,000 h.p.
Furnishes power for lighting and heating, manufacturing, city and interurban railways, pumping municipal water, irrigation and mining. Boise
has a population, including suburban, of 32,000, which should more than
double within ten years. The price for coal in this locality is extremely
high. About 500,000 acres of land are under irrigation in the Boise-Payette
Valley and over 100,000 people reside in the six counties served by the
company; 700 new houses were built in Boise in 1910. V. 88, p. 1200.
•Illinois Water Co., Kankakee, Ill.-New Company.-This
company, incorporated in Maine on Nov. 28 with $300,000
stock in $100 shares, as successor of the Kankakee Water
Co.(V. 71, P. 78; V. 66, p. 183), foreclosure suit under that
co.'s mtge. (Farmers' Loan & Trust Co., trustee), having
been brought in 1899. The officers at the incorporation
were: Pres., A. F. Dunham; Treas., M. S. Wells, and Clerk,
H. M. Verrill all of Portland.
Imperial Window Glass Co., Pittdburgh.-Suit.-Monroe
Lemon, a stockholder and former employee, on Aug. 7
brought suit in the Common Pleas Court at Pittsburgh for
back salary alleged to be clue and asking for the appointment
of a receiver to wind up the company.
Charges of irregularities are made against officers of the company, it being alleged that the company was defrauded out of $250,000 which they
divided among themselves under pretext of payment to outside parties
for pretended services; also that the company during 1910 borrowed $600,000 on which it was compelled to pay $240,000 interest, and that an illegal
conspiracy was arranged between the officers and others in underWriting
contracts and special rebates which aggregate almost $250,000. Large
payments, It is alleged, were also improperly made for advertising, $120,000
being ostensibly paid in one year to the Pittsburgh Plate Glass Co., but In
reality for other purposes.-V.91, p. 1449.
Lxxxxiii.
affirmed the decision of the lower Court, holding that the
company is not subject to a 2% earnings tax to the city.
The company obtained a franchise from the city in November 1901
authorizing It to furnish heat, light and power for 25 years, provided it paid
annually to the city 2% of its gross earnings. It accepted the franchise
and paid the tax regularly until 1008, when it surrendered its franchise
from the city under the conditions of the public utilities law of 1907 and
received an indeterminate permit authorizing it to do business with no
limitation as to time but subject thereto and to the right of the city to purchase the property at any time at a price fixed by the Commission. It was
held that the conditions of the city ordinance were wiped out when the
indeterminate permit was obtained from the State. Compare V.90,p.1557
Laurentide Company, Ltd.-Exchange of Stock.-See
Laurentide Paper Co., Ltd., below.
Laurentide Paper
Grand Mere, Que.-$200 in, New
Company's Stock for Each
Co.,$100 Share.-The shareholders will
vote Aug. 30 on a propositien to sell all the company's assets
and good-will to the new "Laurentide Co., Ltd.," the existing $3,600,000 stock (at last accounts $2,705,600 common
and $894,400 7% cum. pref.) to be exchanged for $7,200,000
of the new stock, on the basis of $200 new for $100 old.
There are also outstanding some 5907,000 1st M.6% 20-year sinking fund
gold bonds, due Jan. 2 1920, par $1,000, int. J. & J. The net earnings for
the year ending .Juno 30 1910 were: From sulphite pulp, ground wood,
$1,105,631; total,
paper and cardboard, $639,892, and from lumber,
$775,523. Deduction: Bond interest,. &e., 5259,219;
7% on entire stock,
&e.t
$202,877; depree'n, $20,000; total, $482,096; surplus for year, $293,427.
Total surplus June 30 1010, $619,746. Directors: Sir William C. Van
Horne, K. C. M. G. (President), James Ross, Edwin Hanson, Charles F.
Smith, Charles R. Houner and Richard B. Angus, Montreal; George Chahoon, Grand Mere. Compare V. 91, p. 467, 657.
--
Louisville (Ky.) Home Telephone Co.-Dividends-Voting
Trust Ends.-This company, which after an intermission of
some years paid a dividend of 13/
9% on April 11911, made
a second distribution of the same amount on June 29. The
voting trust,extended in 1905 and holding, it is saki,some
$1,250,000 of the $1,310,000 capital stock, has been dissolved, and the trust certificates are being exchanged
for the stock certificates at the U. S. Trust Co. of Louisville.
In March last Edward H. Cady of Toledo was elected President. On
June 10 James B. Brown and Sam. P. Jones of Louisville were elected to
the board. Rumors have been current for several months that the control
of the company had passed to interests controlling the Cuyahoga Telephone
Co. and otlaer Independent companies. On June 10 the directors gave out
a statement saying: "While the Central Home Telephone & Telegraph
Co. owns a very large block of the stock, and Individual investors in Toledo
Independent Long Distance Telephone & Telegraph Co., and St. Louis also own considerable interest, there is still a substantial
amount
owned in Louisville, and the bonds are almost entirely held in and
Louisville, Ky.-See Louisville Home Telephone Co. below. around Louisville.
The ownership as outlined, as far as Is known, will be
-V. 89, p. 1225.
continued, and the directors deprecate the reports to the contrary."
Further information as to the control of the company was given out last
Independent Union Te!ephone Co., Albany,N.Y.(formerly March in a circular issued by the trustees under the bondholders' and
agreement of the Central Home Telephone Co. (V. 89, p. 145),
of Buffalo).-Status.-In September 1909 a sale of the prop- creditors'
the Independent Long-distance Telephone & Telegraph Co.(V.89, p. 1225),
erty having been arranged to the Continental Telephone & &c., and signed by
said by Edward II. Cady as Secretary, viz:
"The Independent Company owns the long-distance lines which connect
Telegraph Co., V. 92, p. 325), the $500,000 1st M. 5s of 1901
the various plants of the Central Home Telephone Co. with Louisivile.
were called for payment, as stated in the "Chronicle" at the This
connection is very Valuable and if the Central Home Co. lost control of
time. (See "Continental" V. 89, p. 1225). The sale fell the Independent Company the Central would be left with a number of Isoplants. As the Independent Company was in default in its bond
through and the call was revoked. On Jan. 1 1911 the lated
interest and sluicing fund, we secured the appointment of a receiver. The
interest due that date, and subsequently the sinking fund bonds of the said company were owned in and around Louisville, and they
were deposited with a bondholders' protective committee in Louisville,
installment, was paid.
which committee finally sold them to the Louisville Home Telephone Co.,
This company was formed to operate in and around Buffalo and has t ol for
the latter's collateral trust bonds on the basis of 70% of their par value.
lines in the western part of the State connecting the Niagara County inde"It would have required about $120,000 to pay up the defaulted interest,
pendent telephone companies' exchanges with Buffalo; also in the vicinity of sinking
fund and floating debt of the Independent Long-distance, so that
Dunkirk and Erie; but in November 1904 changed its office to Albany, and the receivership
could be lifted and the stockholding control of the Central
since that time has constructed long-distance lines from Newburgh, N. Y., Home
Company
be made secure. As it was impracticable to accomplish
handling
the
long-distance
business
of
the
is
and
N.
Y.,
independto Utica.
this,
it
became
that the Central Home Co. should control the
ent telephone companies in the territory through which its lines run. Com- Louisville Home desirable
Telephone Co. A control meant the purchase of approxipany is controlled by the same interests which control telephone exchanges mately 6,700 shares,
which
the trustees felt would be more than the Central
Troy,
CohoGs,
Poughkeepsie,
Schenectady,
Kingston,
NewIn Albany,
Home property should carry. The purchase was finally arranged at a very
burgh and other exchanges in Eastern New York. In Feb. 1903 the
figure, the trustees obtaining for the Central Home Telephone do
authorized capital stock was increased from $500,000 to $1,000,000. The reasonable
Telegraph Co. 5,097 shares, and Interests friendly to the trustees securing
4500,000 1st M. 5s are dated Dec. 2 1901 and clue Jan. 1 1927, but callable an
additional amount which would more than control the company. In
on any interest date at 110. Int. J. & J. at Knickerbocker Trust Co.. this purchase It
was necessary to buy also the Owenton company.
51,000.
Pres.,
I.
and
H.
Sea.,
$500
Griswold;
Par
Theo.
trustee.
Y.,
N.
"In
order to make the purchase it was necessary to borrow a largo amount
M. Brush.-V. 76, p. 482; V. 73, p. 1267.
of money, and when the Central Home Telephone & Telegraph Co. was
[the company was incorp. in N. J. in
Jackson County (Mo.) Light, Heat & Power Co.-Sold.- organized to take over the properties
Mch. 1910 with $20,000 stock.-Ed.], the trustees turned over to it the
Underwriting.-This company, we learn, is now under Louisville
stock, together with all the property of the Central Home Telep.
iThe property was bid
the control of the Metropolitan Gas & Electric Co. of Chicago Co., which had been bought in under foreclosure.
for 5250,000 Dee. 1 1909 by E. H. Cady, B. J. Marshall, B. B. Crane,
(V. 91, p. 340, 720). :Howard, Simmons & Co., Chicago, in
all of Toledo, and George Winslow of Carrollton, Ky., the bondholders
late in 1909 offered at $975 and interest underwriting receiving therefrom cash equal to 10 M % of the amount of their principal
matured coupons.-Ed.( The Central Home Telep. & Teleg. Co. then
blocks consisting of $1,000 bond and $400 stock. A cir- and
made a loan large enough to take care of the purchase of the Louisville
cular offering part of the first $200,000 bonds said in part:
stock, the cash required in making the purchase under foreclosure sale,
Capitalization: Cons. stock outstanding, $200,000; pref. stock authorized, the $4,000 borrowed to buy in for the benefit of the bondholders $44,000
$100,000; in treasury, $51,800; issued, 348,200, representing actual cash bonds of the Central Home Telephone Co.-and a sum sufficient to meet
equity invested in the 'property above the bond issue; bonds authorized, the expenses of the trustees. This loan aggregated $342,000.
"Negotiations also have been closed for the sale (name of purchaser not
$300.000; reserved for future use under careful restrictions, $100,000; delivered to co., $200,000, of which $70,000 in treasury; remainder outstand- given-Ed.) of the controlling interest in the Knox County Home Teleing, $130.000. The bonds are 1st M. gold 5s, $1,000 each, due June 11927. phone Co. of Vincennes, Ind.; the Daviess County Home Telephone Co.
but callable June 1 1917 at 105 and int. Interest J. & D. at Merchants' at Washington, Ind.; the Bedford Home Telephone Co. at Bedford, Ind.,
Loan .10 Trust Co., Chicago, trustee. Sink, fund, beginning in 1917, 52,000 and the Bloomington Home Telephone Co. at Bloomington, Ind."
yearly for 5 years, then 53,000 yearly. Operating statement (Sept. 30
On May 8 the trustees announced the purchase by the Central Home
1909): Gross earnings, $39,313; net (after taxes & int.), $9,729; bal., sur., Telephone & Telegraph Co. of the control of the Bowling Green Home Telecharges. $6,500; bal., sur., $3,229. [For cal. year 1910 the net earnings phone Co. through acquisition of $98,500 of its 1st M. bonds out of a total
were $12,899.1
outstanding issue of $112,100, and $73,200 stock out of a total outstanding
Communities served: Independence is a prosperous; well-paved city of capital of $99,800 by the payment of $60,000.
12,000 population, situated 5 miles east of Kansas City, Mo.; Mt. WashingThe trustees are as follows: Isaac E. Knisely, Chairman, Toledo; R. B.
ton. Fairland Heights, Bristol, Maywood and Englewood are interurban Crane, Toledo; W. P. Bowman, New York; G. W. Close, Toledo; T. A.
stations, forming a practically continuous community tor the intervening Pedley, Owensboro; G. B. Winslow, Carrollton.
On or about Oct. 10 1910 Joshua D. Powers was discharged as receiver
4 miles; population growing rapidly, being a favored suburban district.
especially for people of moderate means. The company owns a coal gas of the Independent Lotig-distanee Telephone Fc Telegraph Co. it having
plant at Independence, two steel holders having 90,000 Cu. ft. capacity been shown 'that the company is now free of all current liabilities and in a
and 24.8 miles of mains, and on Sept. 30 1909 had in use 1,175 meters (gain position to earn more than at any previous time."-V.89, p. 1226.
tor year 3021, 935 gas ranges (gain for year 315) and 181 gas arcs, and it is
Ludlow-Saylor Wire Co., St.Louis.-Stock.-A certificate
believed that within 3 years the output will reach 50,000,000 cu. ft. annually
Kansas coal for gas making costs $3 10 per ton: coke sells for $4 per ton. was filed in Missouri April 20 increasing the authorized
Favorable 20-year contract franchises from Independence and County of
Jackson fix the price of gas at $1 35 per 1,000 ft. for 5 years, then at $1 25 capital stock from $500,000 to $600,000.-V. 84, p. 511.
for 5 years, then $1 10 for 10 years, with discount of be, for prompt payment. The President, George F Goodnow, has extensive gas Interests.
Luzern° County (Pa.) Gas & Electric Co.-Merger.---This
Kankakee (Ill.) Water Co.-Successor.-See Illinois company, controlled by the American Gas Co. of Phila.,
recently merged into itself the sub-companies named below:
Water Co. above.-V. 71, p. 87; V. 66, p. 183.
West Wyoming Electric Co.; Warrior Run Electric Co., Union Township
Keystone Watch Case Co. of Philadelphia.-Suit Dis- Electric
Co., Shlekshinny Electric Co., Sugar Notch Electric Co., Pringle
missed.-The suit brought by former Attorney-General Den- Township Electric Co., Larksville Electric Co., Lehman Township Electric
Co.,
Township Electric Co., Jackson Township Electric Co., Hunlock
Lake
man of Ohio to collect penalties amounting to $79,000 for Township Electric
Co., Gas Co. of the West Side, Wyoming Electric Light
failure to comply with the law governing the filing of reports & Power Co. and Forty-Fort Electric Co.
outstanding
[There
is
$2,090,000 capital stock, while of the $3,500,now
and payment of fees by foreign corporations was dismissed on 000 bond
issue authorized in 1908 (see V. 88, p. 628), the amount !sailed is
Jan. 23 on application of Attorney-General T. S. Hogan.
$1,832,000, with $601,000 additional reserved to retire prior liens. ComUnder the law penalties may be remitted by the official board consisting
of the Governor and Attorney-General. and Governor Harmon consented
to this disposition of the matter.-V. 91, p. 720.
panies now merged.j-V. 93, p. 108.
Madison (Wis.) Gas & Electric Co.-Reduction of Rates.La Crosse (Wis.) Gas & Electric Co.-Favorable Decision The Wisconsin RR. Commissioners recently handed down a
Affirmed.-The Wisconsin Supreme Court on March 14 decision reducing the rates for electric lighting about 14%.
AUG. 26 1911.]
THE CHRONICLE
An order was made by the Commission in Meh. 1910 reducing and readjusting thd. then existing schedule of rates. The original maximum rate
of 16 cents per k. w. hour has been reduced by the two orders to 14 and
12 cents, respectively.—V. 92, P. 326.
Manitowoc (Wis.) Water Works Co.—City Bonds Voted to
Purchase Plant.—See "Manitowoc" in the State & City
department.—V. 92, P. 265.
Mather Humane Stock Transportation Co.—Equipment
Notes.—Brown Bros. &Co.recently offered at par and int. 5%
gold equipment notes, series "U,"dated June 1 1910 and
due serially $8,000 each June 1 and $7,000 each Dec. 1 up to
and including June 1 1920. Issued, $150,000; now out,
$143,000. ear $1,000 c. Int. J. & D. A circular says:
Secured by direct first lien upon 250 Mather Standard automobile ears,
with steel sills, costing $225,000, under lease to the Wabash RR. Notes
were issued against these cars at 66 2-3% of the cash cost.
The title to the equipment is vested in the trustee until the notes are
paid off in full. The lease of the cars to the Wabash RR. is pledged as
additional security. The Mather Humane Stock Transportation Co. was
organized in June 1881 and has paid regular dividends of 8% per annum
on its $800,000 pref. stock.—V. 84. p. 1432.
Medina Irrigation Co.—See San Ant. Land & Irrigation Co.
Mergenthaler-Horton Basket Machine Co.—Receivership.—
Judge Giegerich of the Supreme Court at New York on July 31
appointed Albert 0. Briggs receiver of the company on application by Fletcher, McCutchen & Brown,judgment creditors
for legal services. Edward H. Parkhurst is President.
Compare V. 89, p. 1671.
Merion &Radnor(Pa.) Gas &Electric Co.—Bonds.—Wurts,
Dulles & Co. 125 South 4th St., Phila. some time ago
offered at 103 and int. a block of 1st M.
'5% gold bonds,
dated May 2 1904, due May 1 1954, but callable at 105 and
int. on May 1 1914 or any M. & N. thereafter on 60 days'
notice. Int. M. & N. Commercial Trust Co., Phila.,
trustee. Tax-free in Pa. Authorized, $2,000,000; issued,
$1,256,000. A circular said:
• Controlled and operated by United Gas Improvement Co. of Philadelphia.
Franchise is perpetual. Population served 33.000. Territory supplied:
Cynwyd, Merlon, Ardmore, Haverford, Rosemont, Radnor, St. Davids,
Strafford, Berwyn, Bala, Wynnewood, Paoli, Bryn Mawr, Villa Nova,
Wayne and Devon, all in Penn. The gas works are located at Ardmore
and electric plant at Wayne. For cal. year 1909 net earnings were $112,916; fixed charges, *59,644; bal., sur., $53,272. Compare V. 76, p. 1252;
V. 79, p. 503.
Miramichi Pulp & Paper Co.—Liquidation.--A press
dispatch from Fredericton, N. B., on Jan. 7 stated that
Judge Barry in chambers had appointed W. B. Snowball of
Chatham and A. H. Hanington permanent liquidators to
wind up the company.
The liabilities arc stated as about $650,000. Among the creditors is said
to be Nashua River Paper Co. (see below), to the extent of $350,000. The
Bank of Montreal is reported to be interested to the extent of about $100.000 or more for bonds which it holds and hypothecations on stock. The
company succeeded the Maritime Sulphite Fibre Co.—V. 79, p. 2646.
Montreal Cottons, Ltd., Montreal.—Successor Company.—
This company was incorporated on Aug. 10 1911 under the
Canadian (Federal) Companies' Act, with $10,000,000 stock
in $100 shares, as proposed successor of Montreal Cotton Co.
It is understood in Canada that the latter's $3,000,000 capital stock, on
which dividends are being paid at the rate of 8% per annum, will be exchanged for tile stock of the new company on the basis of $100 old stock
for $100 new 6% pref. and $100 new common. The company, it is said,
could pay 4 or 5% on the new common stock.—V. 89, p. 923.
535
company, which in a way greatly reduced the cost of operating. What did
Henry 0. Havemeyer no to get that $10,000,00u minnow 'Mr. Havemeyer had agreed to furnish the money to finance the company. And
this $10,000,000 of common ought to have gone to the American Sugar
Refining Co., ought it? Not necessarily so, for evidently they did not
want it, as the record shows. This ten millions of common stock is now
held by the Havemeyer estate? Part of it in trust and part of it as executer
of the Havemeyer estate; yes. You vote this stock and elect your own
board of directors? We have, up to this year; we have not elected a new
one this year. [Owing to litigation as to validity of common stock. V.92,p.
326.—Ed.] How many pref. stockholders have you? About 225 to 250.
but H. B.
The subsidiary companies agreed to take the pref.
of it—in
stock'
Howell, Son & Co. agreed to purchase back a certain percentage
one case 50°,1. During the three or four months we took back about
$4,650,000, ethink, and delivered it to the American Sugar Relining Co.
[see that company above].
Have any dividends been paid on the common stock? 10% in 1903
and 15% in 1904: there have been no dividends since.
You
have paid every year 6% interest on your pref. stock, have you not? Yes,
sir; I think every year. In other words, $600,000 yearly? Yes, sir. And
during the same time you have also paid out how much dividend on the
common stock? $2,500,000 [10% in 1903 and 15% in 1904] in 10
years, equal to 234% a year. And you still have something like
$600,000 surplus in the treasury? About that, I believe. Have you improved your property? Yes, a great deal; of course the improvements
have been charged against capital expenditures. You have brought your
plants up to a high state of efficiency? As good as any in the world, we
think. And you have increased the capacity? We have built two of them.
You paid $6,000,000 interest during the past ten years on the pref. stock?
Yes, sir. And $2,500,000 on the common stock? Yes; a total of $8,500,000. That is on a business of $75,000,000 to $80,000,000 a year. You do
not call that sailing very close to the wind in the matter of profits, do you?
Yes; I think so; it is a very risky business at times. You think that is a
very moderate profit? I do not think it very excessive for the volume of
business and tile risks.
Previous to the consolidation the New York Sugar Refining Co. had a
melting capacity of 2,000,000 lbs. daily? It was not as large at that time.
but it is a good deal larger than that now. There was the Mollenhauer
Sugar Refining Co., with a melting capacity of a million pounds daily and
there was the National Sugar Refining Co., a New York corporation, with
a melting capacity of a million pounds? Those are virtually correct. The
American Sugar Refining Co. now does 42% of the business? That does
not make it a monopoly. And your company does 10% of the business?
About, of the country. You make the statement that the two companies
are working hand in hand; it is not true; they do not work hand in -hand.
What other competition is there that you consider competition? Arbuckle
Bros. and the Federal Sugar Refining Co. The Arbuckles make about
7,000 barrels of sugar a day and the Federal about the same; the Arbuckies
do probably 8% of the business and the Federal about 6%, I should think;
the Warner about 5% possibly, making 71%; the rest is made up of the
California-Hawaiian Co. in California; the Henderson Co. of New Orleans;
and the Revere of Boston (compare V. 91, p. 1571).
Total Sugar Refined in U. S.—No of tons relined in 1910 and 1909:
[Taken from Willett & Gray's "Sugar Trade Journal" of Jan. 5 1911.]
1910.
1909.
1910.
1909.
Am.Sug.Ref.Co_1,383.386 1,341,988 Beet sugar fact's. 457,000 433,848
Independent ref's1,428,059 1,318,684 Hal,va'n cane fac's 13,648
15,144
Total (inel. foreign refiners, 845 tons '10; 766 tons '09)3,282,938 3,110,430
Consumption of Sugar in U. S.—Portion Refined by Am. Sugar Ref. Co.
Total
Refined by
PerN.Y.
Total
Number
AS
hcir
ltref
l.
sC
. o.
centPrices, Lbs.Per
Barrels.
age.
Cents. Capita.
13,943,186
1900
9,378,234
67.30
4.32
66.60
14,642,090
1901
8,482,598
69.70
57.90
5.50
1902
16,136,698
9,193,434
56.97
4.46
72.80
15,868,294
904
3
8,767,040
190
70.90
55.25
4.64
16,787,584
9,748,761
58.07
4.77
75.30
16,042,752
8,484,428
1905
52.89
5.26
70.50
17,666,195
• 9,014,419
1906
51.03
4.51
76.10
18,201,130
8,066,790
1907
49.27
4.65
77.54
19,341,779
8,731,430
45.14
4.96
1908_
81.17
19,906,752
8,588,722
43.14
4.76
81.18
1909
21,010,803
8,854,670
42.14
4.97
81.60
1910
Production in 1909—Barrels.
Independents (Initial Production) I Mi,cetlaneous.
650,000
McCahan (1894, 600,000) _ _ 700,000 Louisiana planters
Arbuckle (1899, 750,000)_ _1,900,000 Cal. & Ilawa'n, Henderson,
Colonial, Revere, &c_ _ _1,950,000
Federal (1904, 600,000)_ _ _1,370,000
3,050,000
Warner (1908, 450,000) _ _ _ 550,000 Domestic beet
National (1900, 2,000,000) _2,170,000 Amer. Sugar Refining Co_ _8,588,723
—V. 92, p. 1377.
Nashua River Paper Corporation, Boston.—New Company.
—Bonds.—Treasurer Ernst R. Behrend on Jan.3,in reply to
Natural Carbonic Gas Co., Saratoga Springs, N. Y.—
an inquiry, wrote:
Decision Upholding Saratoga Springs Preservation Law.—
The Nashua River Paper Corporation is a n w corporation with a capital The United States Supreme Court on March 12 (Judge Van
of $200,000. It has purchased the property of the old Nashua River Paper
Company, paying for the same in part by an issue of *1,000,000 6% bonds Devanter writing the opinion) sustained the validity of the
(due 1925; int. J. & D. at office of trustee), secured by a mtge., of which New York State statute approved May 20 1908 regulating
the American Trust Co. of Boston is the trustee. Of this issue of bonds,
a sufficient number have been reserved to pay all outstanding bonds of the the pumping of natural mineral waters to prevent waste
old Nashua River Paper Co., issued under two different nages., one issue and impairment.
&
(68 due 1914, int. F. A.—Ed.) of which the Old Colony Trust Co. of Boston is trustee and another (6s due 1919, int. M. & N.,—Ed.) of which the
American Trust Co. is trustee, the total outstanding amount of these old
bonds being $250,000 less bonds held for the sinking fund.
The property purchased Includes two mills, one at Pepperell and the other
at Groton, Mass., having a total daily capacity of about 140,000 lbs. of
paper (book, lithograph, coating and writing).
The President of the new corporation is Charles H. Clinton of Philadelphia, anti the Treasurer and General Manager is Ernst R. Behrend, formerly
of Eric, Pa. The Boston office will be at 85 Devonshire St. Tile corporation has no connection with the Miramichi Pulp & Paper Co.—V.79,p.2646.
National Automatic Weighing Machine Co.—See Autosales
Gum & Chocolate Co. V. 92, p. 1501.—V. 78, p. 705.
National Candy Co., St. Louis.—Dividends Suspended on
Common Stock.—The directors on Aug. 16 declared the usual
semi-annual distribution of 332% on the $1,000,000 1st pref.
and $1,699,300 2d pref. stock, but omitted the dividend on
the $5,394,600 corn. stock which for the last 18 mos. has been
2% yearly. The "Globe-Democrat" of St. Louis says:
o. 11. Peckham stated that the dividend on the common stock was
stopped because the money could be used to better advantage in the business. He said there was no material decrease in the earnings for the first
mos. of 1911 as compared with 1910. The suspension of the dividend
did not cause any fluctuation in the shares. The common was offered at
$16 50 and $15 50 was bid, the same as Tuesday. The common last year
sold as high as $27 a share. Compare report, V. 92, p. 592.
The suit was brought by Stuart Lindsley, a bondholder and stockholder,
to prevent the company from complying with the law, and against the State
authorities to prevent its enforcement. The company owns 21 acres in
Saratoga Springs containing mineral springs, and has resorted to artificial
pumps to bring to the surface from the mineral waters the natural carbonic
acid gas which it sells as a separate commodity.
It was held that the statute does not deprive the company of its property
without due process of law: that the pumping operations resulted in an
unreasdnably wasteful depletion of the common supply and in a corresponding injury to other surface owners equally entitled thereto. The contention
was overruled that tile mineral waters under the surface are percolating
waters and not part of a general reservoir or common source.
[Newspaper adviccs say that the properties of the 3 large gas properties
south of Saratoga Springs were taken over by the State on June 26, the
price not being given out. The Natural Carbonic Gas Co. was incorporated in N. Y. on Juiy 19 1911 with $850,000 authorized stock, as successor of the old company of the same name—see below.
Edward G. Benedict was on April 14 1910 appointed receiver of the
Natural Carbonic Gas Co. of Saratoga by Judge Ward of the U.S. Circuit
Court. The company was said to own 21 acres of land at Saratoga Springs.
The application was granted on petition of Charles G.Stratton of Worcester,
Mass., who, it was reported, owned mortgage and debenture bonds and
stock of the company to the amount of $17,000. The complainant alleged
that since the dissolution of the Natural Carbonic Gas Co.of New.Tersey,its
successor, the Saratoga company, was liable, with $300,000 pref. and $700,000 common stock, for an issue of $400,000 bonds, and that the Saratoga
company has also assumed and agreed to pay an issue of $150,000 debenture bonds.—Ed.]
Newburgh Light, Heat & Power Co.—See Central Hudson
National Phonograph Co.—New Name.—See Thomas A. Gas & Electric Co. in V. 93, p. 471.—V. 89, p. 532.
Edison, Inc., in V. 92, p. 1376.—V. 85, p. 866.
New River (Coal) Co., Boston.—Directors.—These are:
National Sugar Refining Co. (of N. J.), New York.—
Samuel Dixon (Pres.), Symington
Charles W. Dillon, Francis
Dividends, &c.—In his testimony before the special commit- W. Scarborough, Louis A. Watres,Macdonald,
Edward S. Jones, Cyrus D. Jones,
W. Sprague. Henry N. Sweet, Junius Beebe. Sheldon H. Bassett,
tee in the investigation of the American Sugar Refining Co. Phineas
C.
I3urnham,
Addison
Frank Ellison, Robert H. Gross and Samuel Samter
and others on June 19, James H. Post, President of the the three last named are
new].
National Sugar Refining Co., in response to the queries shown
Status.—A
statement
from the "Boston News Bureau" as
substantially
made
the
below
following replies:
What was tile capitalization of the National Sugar Relining Co. of New partially revised, said:
Jersey, organized in 1900? $10,000,000 pref. and $10,000,000 corn. The
New York Refining Co. received for its stock and bonds $3,000,000 pref.;
the National Helloing Co. $2,250,000, and the Mollenhauer Relining Co.
43.000,000. What became of the other $1,750,000 preferred? About
*1,400,000 was issued to purchase a 25% interest lathe McCahan Refinery,
of Philadelphia, and the remainder was sold for cash for operating capital.
What was the consideration then for the $10,000,000 of common? The
fact that we had three very good refineries and consolidated them into one
By reason of the depressed conditions in the soft-coal trade there wasfo.
the late fiscal year, after paying interest on the bonds, a deficit of about
$78.000. The outlook since Gen. Mgr. Scott has taken charge has substantially improved, and at the present time it is fair to state that the company is earning expenses and bond int. There are outstanding $2,500,000
5% 1st M. bonds convertible into stock, $6,737,400 6% pref. stock and
$13,474,8 0 corn. stook. No dividends have been paid since Nov. 1908, so
that there is now 15% of back dividends due on the pref.—V. 89. P. 1486.
536
THE CHRONICLE
Northern Hydro-electric Power, Green Bay, Wis.Bonds.-The Wisconsin RR. Commission has approved the
plan to issue $300,000 1st M. 6% bonds of $1,000 each. for
the purpose of completing the plant at High Falls, Marinette
County, Wis. Compare V. 89, p. 1545.
Oahu Sugar Co.-Bonds Called.-Fifty bonds of 1906, for
payment on Oct. 1, at $1,030 per bond and inteerst, at
Bishop Trust Co., Ltd., Honolulu, trustee, or E. C. Weyhausen,Bremen,Germany, at M.4,326 and interest per bond.
On Dec. 31 1908 there were outstanding $959,000 5% 10-20-year bonds.
dated April 1906; par $500 and $1,000. Int. A. Fc 0. Stock, $3,600,000,
on which monthly dividends of 2% each were being paid. Total dividends
in 1908, 1934%. Pres., J. F. Hackfield, Honolulu.
• On Dec. 31 1908 there were outstanding $959,000 5% 10-20-year bonds
dated April 1906, par $500 and $1,000. Int. A. & 0. Stock, $3,600,000,
on which monthly dividends of 2% each were being paid. Total dividends
in 1908, 1934%. Pres., J. F. If ackfleid, Honolulu.
(VoL.
the amounts paid in excess of the rates prescribed by the city ordinance I
the latter are finally adjudged to be just and reasonable. Compare
V. 93, p. 349. 233.
Peter's Shoe Co St.Louis.-Consolidation.-See Roberts,
Johnson & Rand Co. below.-V. 87, p. 475.
Philadelphia Suburban Gas & Electric Co.-Merged.This company, controlled by the American Gas Co. of Philadelphia, has increased its outstanding stock to $4,542,500
and merged into itself the following subsidiaries:
Gas Co. of Delaware County, Gas Illuminating Co. of Delaware, Gas Co.
of Rockledge, Horsham Township Electric Co., Southampton Township
Upper Dublin Township Electric Co., Whitpain Township
Electric
Electric Co..
Co.,Warminster Township Electric Co., Warwick Township Electric
Co., Suburban Electric Co. of West Pottsgrove, Suburban Electric Co. of
Upper Pottsgrove, Suburban Electric Co. of Lower Pottsgrove, Suburban
Electric Co. of Upper Providence, Suburban Electric Co. of East Pikeland,
Suburban Electric Co. of Limerick, Suburban Electric Co. of East Vincent
and Suburban Electric Co. of East Coventry.
(Of the $10,000,000 bond issue of 1910 the amount outstanding is 92,047,000 and a further $3,264,000 is reserved to retire underlying bonds.]
See V. 92, p. 530.
Omaha (Neb.) Gas Co.-Contract.-The City Council on
Aug. 8 accepted the contract running for 5 years for not less
Pittsburgh (Han.) Water Supply Co.-Bonds Voted to Purthan 1,200 lamps at $1 net per 1,000 cubic feet.
Injunction.-Judge Munger in the U. S. Circuit Court on chase Plant.-See "Pittsburgh' in 'State and City" Dept.July 1 signed an order restraining the city from putting into V. 93, p. 412.
effect the dollar-gas ordinance for general consumers.
Portland (Me.) Electric Co.-Listed in Boston.-The BosA hearing on an application for an injunction was adjourned from July 12 ton Stock Exchange on July 22 1911 listed the $1,000,000
to Sept. 26, the restraining order remaining in force until said date. There common stock; par of shares, $100.
has been no agreement by which the dollar rate will go into effect for general
consumers, and the case will come up in September, or possibly a later date,
to be tried on its merits.-V.84, p. 163.
Information Given by the Company under date of April 20 1911 (Condensed)
Incorporated in Maine July 10 1906. Authorized and issued capital,
6% cumulative pref. stock and $1,000,000 common stock. Par
Oneida-Regal Textile Co.-Stock Offered.-Turner, Tucker $500,000
of all shares, $100. The dividend on the pref. stock was in arrears Dec. 31
& Co., Boston, New York and Buffalo, have issued a circular 1910 to the amount of $15,000. On May 1 1911 a 3% extra dividend was
on this stock, making 6% paid in full from issua co in Aug. 1906.
offering at par the unsold portion of the issue of $500,000 paid
The company controls through stock the Portland Lighting & Power Co.
and the ConsolidatediElectric Co. of Maine, owning ail their share capital.
7% cumulative pref. shares.-V. 93, p. 109, 474.
except $177,400 and $80, respectively.
Orange (N. J) Water Co.-Proposed Purchase by Borough
The company has the right, at any time after July 31 1911 and before
Aug. 1 1926, to purchase or retire all or any part of the pref. stock at 115
of Glen Ridge.-See "Glen Ridge" in "State and City" Dept. and
accrued dividends, and may at any time purchase or retire any part of
-V.77, p. 1297.
the pref. stock at a less price with the consent of the owner. The pref.
will be absolutely due and payable on Aug. 1 1926 at the face value
Pacific Light & Power Corporation, Los Angeles.-No stock
thereof, together with all accumulated and unpaid dividends.
Consolidation Plan.-In reply to our inquiry as to the truth Consolidated Balance Sheet Dec. 31 1910-Portland Elcc. and Controlled Co's.
of the report thatarrangementsare being made to bring abouta Assets.-Plant and invest. acct. $4,415,993; bond discount,
$18,131; current assets, $95,024% cash (incl. $13,750 for bond
consoldation or merger, the Pacific Light & Power Corredemption in 1911), $34,084_..
$4,563,232
poration and the San Joaquin Light & Power Corporation Liabilities (offsetting above assets).-Capital stock, common,
$1,000,000; pref., $500,000; underlying stocks, $177,480
1,677,480
we learn from Mr. Huntington, under date of Aug. 18 (now
Bonds.-5% gold bonds (V. 90, p. 1243), $1,346,000; underlying bonds, viz.: Consol. El. It. Co. 1st 4 Hs, $500,000,
held by the same interests), that there is "no plan for
and gold 6% consols, $115,000; Portland Ltg. Co. consol.
any consolidation whatever." As to the new bond issue
1st M. 4 Ms, $500,000
2,461,000
see V. 93, D. 470,
Current Habil., $111,275;reserve, $7,275;surplus acct., $306,202 424,752
Directors.-Charles O. Bancroft (Pres.), Harry Butler (V.-Pres.), Alpheus
- G. Rogers, Walter G. Davis, Philip G. Gossier, W. M. Bradley, Carl P.
1 'Pacific Power & Light Co., New York and Portland, Ore,
Bonds Offered-Status.--White, Weld & Co., New York and Dennett, Kenneth B. Thornton, Charles S. Erswcii. Wilbur Tusch is
Chicago, and Win. A. Read & Co., New York, Boston, Treasurer. Compare V. 90, p. 1243.-V. 92, p. 467.
Poughkeepsie Light, Heat & Power Co.-See Cent. HudChicago and London, are placing at 95 and int. $1,120,000
"first and refunding mortgage" gold 5% bonds, dated 1910, son Gas & Elec. Co., V. 93, p. 471.-V. 91, p. 1777.
Pratt Consolidated Coal Co., Birmingham, Ala.-A cq uistiauthorized $30,000,000, outstanding $4,515,000. The company is controlled by interests closely allied with the General tions, &c.-President McCormack, Birmingham, Jan. 24,
.Electric Co., and it serves a progressive agricultural and replying to our letter of inquiry, says:
horticultural territory in Washington, Oregon and Idaho,
The company has purchased between 35,000 and 40,000 acres of coa
in Walker County, Ala., but will not increase its securities to pay for
embracing Walla Walla, Pendleton, Pasco, Wallula Granger, lands
these lands. The company now has outstanding $3,574,000 of 5% bonds
' city of and $3,573,000 of common capital stock, and owns in Alabama and TenUmatilla, N. Yakima, Bingen; also the seaport
nessee about 140,000 acres of coal land, including the recent purchase.
Astoria. Population served nearly 90,000, an increase of The
company mined and sold in the year 1910 2,037,386 tons of coal and
almost 100% in 10 years. See full statement in "Chronicle" has a capacity under normal working conditions of about 3,000,000 tons
year,
having numerous mines on all of the railroads entering the Birm172.
per
and
pages
171
1911,
of July 15
B. McCormack, Pres.; Erskine
Condensed Extracts from Statement by Pres. F. G. Sykes, Aug. 10 1911,
Securities Authorized and Outstanding.
$780,000
Underlying bonds (closed), outstanding
4,515,000
First and refunding 55, authorized, $30,000,000; outstanding
1,250,000
7% cum. pref. stock, auth., $1,500,000; sold for cash at par_
6,000,000
Common stock, authorized and outstanding
Further bonds for improvements or additions can only be made at par
to the extent of 80% of the cost thereof, and then only provided net earnings for 12 consecutive months in the 13 preceding months have been twice
the interest charge,including bonds sought to be issued.
Earnings for 12 Months ending May 31.
1910-11 1909-10
1910-11 1909-10
Gross carnings_$1,146,173 $940,693 Bond & oth. Int. $234,551 $120,970
399,0391Surp.
for
divs__
316,386 278,060
551,437
_
_
earnings_
Net
The mortgage covers the following property: (a) Electric power plants,
capacity 20,735 h.p., of which 13,300 h.p. is hydro-electric; under construction additional hydro-electric capacity 1,350 h.p., total 22,085 h.p. (b)
High voltage transmission lines, 301 miles in operation and 175 miles under
construction. (0) Gas plants in Lewiston, Ida. (with extension to Clarkston under construction); Walla Walla and North Yakima, Wash.; Vendleton
and Astoria, Ore. (d) Street railways In Astoria, Ore. and Walla Walla,
and an interurban railway from Walla Walia, Wash., to Milton, Ore.
Total 30.45 miles of main track. (c) Water works in North Yakima,
Kennewick and Pasco. J. G. White & Co. estimated that the physical
property as of Nov. 1 1910, after deducting depreciation, had a value of
$4,910,103 cash, no allowance being made for water rights, going business,
good-will or franchises. Between Nov. 1 1910 and May 31 1911 the company has expended $1,621,818 for additions, extensions, &c,
br„-NThese bonds are followed by $1,250,000 preferred stock, sold for cash,
at par, on which 7% dividends are being paid. The entire $6,000,000
common stock, which represents a large cash investment, is owned by the
American Power & Light Co. controlled by interests associated with the
Electric Bond & Share Co., which In turn is controlled through stock ownership by the General Electric Co. See full report, V. 93, p. 168.
Peck, Stow & Wilcox Co., Southington, Conn.-New
Stock.-Stockholders of record on Aug. 1 1911 at 12 o'clock
noon are offered the right to subscribe at Southington on
or before Sept. 1 for the 10,000 shares ($250,000) of the increased capital stock in the proportion of one share of new
stock for each five shares of their respective holdings, to be
paid for at the par value of $25 per share. Subscriptions are
payable 50% Sept. 1 and 50% Nov. 6 1911. Dividend rate
10% per annum (Q.-J.) with usual extras on Aug. 15 yearly
of from 2% to 6%.-V. 85, p. 408.
People's Gas Light & (Joke Co., Chicago.-Reduction of
Rates.-The order of Judge Gibbons of the Circuit (State)
Court of Cook County, fixing the price of gas in Chicago at
80 cents per 1,000 cu. ft. pending final disposition of the
suit brought by the company to enjoin the enforcement of
the recent ordinance reducing the price of gas went into
effect Aug. 7.
While the order does not provide for the placing in a special fund of the
amounts collected In excess of the reduced rates, it does specify that consumers'paying at the 80-cent rate shall be entitled to receive a refund of
ingham district. Officers: G.
Ramsay,
First Vice-Pres.; H. E. McCormack, Vice-Pres. and Gen. Man.; J. A
Shook, Sec.-Treas. Compare V. 80, p. 1427.
Queens Borough (N. Y.) Gas & Electric Co.-Reduction in
Rates.-The Public Service Commission, 1st Dist., on June 23
made an order reducing maximum rates as follows:
From July 1 1911 to Jan. 1 1912, $1 20 per 1,000 cu. ft. of gas, and from
Jan. 1 1912 to July 1 1912, $1 15, and from July 1 1911 to July 1 1912, 13
cts. per kilowatt hour for electricity. Former maximum rates for gas.
$0 00, and minimum rates $1 25. Former maximum rate paid by great
majority of consumers 15 cents per k. w. hour and lowest, 334 cents
for wholesale power during certain hours. The city paid 75c. for gas and
from $65 to $100 per lamp per year for street arc lamps burning all light
and 10e. per k.w. hour for general municipal lighting.
The company against which complaint was originally made as to its rates
for gas and electricity voluntarily offered to accept the determination
of the Commission, and to put into effect, at least for one year, whatever
rates the Commission may decide are reasonalbe and proper.-V.89, p. 849.
Ray Consolidated Copper Co.-Development-Smelting
Contract.-The fourth unit of the company's concentrator
was to start this week, and by the end of the month approximately 3,000 tons of ore are expected to be treated daily
The following has been published:
The operation of the fourth unit will bring the property to a basis of production of between 40,000,000 and 45,000,000 pounds per annum.
When all the units are in full operation the company will be able to produce
about 100,000,000 pounds per annum, or at the rate the Utah Copper Co. is
now producing, and it is claimed will be able to make copper at 9c.a pound.
Vice-President Hayden says "The Ray Company began the erection of
a smelter and mill because it could see no way clear otherwise to get Its
concentrates economically smelted, The American Smelting 'Fe Refining
Co. offered a contract so attractive that the management of the Ray accepted it. All expenditures made by the Ray in connection with its partly
constructed smelter will be assumed and repaid by the Am. Sm. & Ref.,
which will complete immediately an enlarged smelter and converting plant
at Hayden. The contract, which is for a long term of years, fully protects
the Ray Co. on any improved process which may be introduced in the future."-V.92.P.798.
Republic Iron & Steel Co.-New Director.-James Campbell, President of the North American Co., has been elected
a director to succeed James B. Duke, who resigned.-V.93,
p. 414, 405.
Roberts, Johnson & Rand Co., St. Louis.-Consolidation.
-Holders of more than 75% of the stock of the company and
Peters Shoe Co. of St. Louis have, it is stated, agreed to a
merger of the two companies, the new company to have
$20,000,000 capital stock, consisting of $10,000,000 each of
common and 6% preferred stock, the latter to receive
monthly dividends. The consolidation is to be effective
about Dec. 15.
The Roberts, Johnson & Rand Co. has $2,500,000 each of sommon and.
pref stook and the Peters company $2,000,000 stock, Bach share ol
AUG. 26 1911.]
THE CHRONICLE
Roberts, Johnson & Rand preferred will receive one share of new preof
ferred and each share of Roberts, Johnson & Rand common 2 i shares
shares of new preferred. One share of Peters stock
new common and 1
preferred.
new
new
and
common
of
will receive 1 74 each
It is officially stated that the merger plan will make of the new $20,000,not yet
000 corporation, to be incorporated in Missouri, whose name has
been selected, a holding company for the stock of the two old companies,
howwhich will continue their corporate existence. The holdises company,
than is
ever, will have a closer relation to the operation of the bbusiness
the
be
will
it
public
the
ordinarily the case with holding companies. To
operating company, sales being made in Its name, and the two subsidiary
save
concerned,
is
trade
the
with
relations
companies passing out as far as
that the brands now used by each will be kept alive.-V. 93, p. 350.
537
and int. at any time on three months' notice. Par £20 and £100 (0).
Interest payable M. & N.In London at Bank of Scotland;in N. Y.at Empire
Tr. Co.; in Toronto at Canadian Bank of Commerce.
Condensed Information Supplied by President F. S. Pearson.
Organized under laws of Dominion of Canada (incorporated April 20
1911) with a share capital of $8,000,000 (in $100 shares). Has contracted
to acquire 60,000 acres of rich agricultural land near San Antonio and will
own the share capital and bonds of the Medina Irrigation Co., a State concession granting the exclusive right in perpetuity to the waters of the
Medina River for all purposes of irrigation. At a point on the Medina River.
25 miles from San Antonio, a dam Is being built and a distribution system of
canals is being constructed. The storage reservoir will have a capacity of
200,000-acre ft., amply sufficient for the irrigation of 100,000 acres. The
land when irrigated is well adapted for growing cotton, alfalfa, vegetables
and other crops, and experts estimate will be readily salable for at least
$200 per acre. The proceeds of the sale of 31,500 acres at this price will
redeem the present bond issue, leaving 28,500 acres which can be sold or
rented, and if rented should yield a net annual rental of $15 per acre, or
$427,500. The revenue from the Medina Irrigation Co. derived from the
sale of water for irrigation is estimated at $300,000 per annum,if the 60,000
acres only are irrigated. This will give a total net income from land rentals
and irrigation of $727,500 per annum, which is equivalent to 9% on the
share capital. The engineers estimate that the irrigation works will be
completed by Feb. 1 1913. [The bonds were listed in Brussels on Aug. 7.
Ed.]
Y.
N.
Hirt,
J.
I.
and
Pearson
Miller
S.
I.
H.
-F.
(President),
Directors.
H. Malcolm Hubbard, London; E. R. Wood, Waiter Cow, Miller Lash,
It. C. Brown, Toronto; H. Aubrey, San Antonio.
Rockland & Rockport Lime Co., Rockland, Me.-Reorganized Company.-This company was incorporated in Maine on
or about July 5 with $2,000,000 stock in $100 shares (compare plan in V. 92, p. 960; V. 82, p. 1383). Pres., Wm. T.
White, Rockland; Treas., Jos. Remick, Boston; Clerk, Arthur
S. Littlefield, Rockland.
Rogue River (Ore.) Electric Co.-Bonds Offered.-E. H.
Rollins & Sons, Boston, N. Y., Chicago, Denver and San
Francisco, are offering $100,000 1st M. 5% gold bonds dated
July 1 1907 and due July 1 1937, but callable at 105 and int.
San Joaquin Light & Power Corporation.-No Merger.on any int. date. Denominations, $1,000 and $500 (c*).
Int. J. & J. at the Guarantee Trust Co. of N. Y., trustee. See Pacific Light & Power Corporation under "Railroads"
above.-V. 93, p. 412.
A circular reports:
Capitalization.
Shannon Copper Co.-See Arizona Commercial Copper Co.
$564,000
issued
$700,000;
authorized.
Capital stock
Bonded debt auth., $700,000; retired by sinking fund, $20,000;
above.-V. 93, p. 414.
total bonds outstanding (incl. some $314,000 underlying bonds.
Simmons Hardware Co., St. Louis.-New Company.680,000
-Ed.)
Owns and operates a hydro-electric property and transmission lines in President W. D. Simmons announces to the stockholders a
the Rogue River Valley, Ore., furnishing power and light under franchises plan for the reconstruction of the company's finances by the
in the cities of Medford, Grants Pass, Gold Hill, Jacksonville and Central
Point. Also supplies power at wholesale to local lighting companies at organization of a new company, to be probably called the
Ashland. Talent and Phoenix, and power to mines, quarries, dredges and Simmons Hardware Companies, with $7,500,000 capital
for irrigation throughout the valley. The generating station is situated on
the Rogue River and So. Pac. fly. at Gold Ray, 11 miles north of Medford. stock, consisting of $3,750,000 each of common and 6%
Water used under 20-ft. head. The canal and power-house will accommo- cumulative preferred stock.
installation of 3,000 is. w. capacity. Turbines and generators of
date an
The new company will absorb all the branch houses and agencies and
total of 2,000 Is. w. capacity now installed. Also owns 65 miles of highvoltage transmission lines, local sub-stations and distributing systems at will arrange for the opening of additional auxiliary establishments In differMedford, Grants Pass, Central Point, Jacksonville and Gold Hill, and plans ent parts of the world. The maximum capital of the Simmons Hardware
an Immediate 20-mile extension to the Galilee mining district. Plant has Companies will be $7,500,000 if the main proposition is approved by the
been in operation six years without a shut-down on account of any line or stockholders. Should the alternative idea be adopted, in ss hole or in part.
the capital may be $5,500,000. The present capitalization is 84,500,000.
station trouble.
To meet the growing demands for electric power In the territory served.
Owing to limitations imposed by Missouri laws, the present company is
the owners of the property are developing an additional hydra-electric gen- restrained from owning any of its branches, which are held by stockholders.
erating station at Prospect, Ore. 40 miles north of Medford where an esti- The incorporation of the Simmons Hardward Companies, under a broader
to immediately develop 5,000 Is. w., with charter, will enable the acquisition of the branches and the expansion of
mated $650,000 is being expended
an ultimate capacity of 20,000 is. w. This power will be distributed via the business. The new organization will also systematize the capital stock.
objecthis company's lines, doubling its earning capacity. The population served facilitate the issuance of a series of collateral notes, dispensing withto
distionable short-time obligations: provide working capital and funds
Is about 30,000 and rapidly increasing.
charge the floating indebtedness and establish additional branches.
Earningsfor Cal. Year 1900 and 1910 and 12 Mos. ending June 30 1911.
merged companies "shall always exceed.
various
the
of
assets
quick
The
1910-11.
1910.
1909.
of the collateral notes or
$147,315 in actual value, the aggregate of the face amount
$124,637
$91,735
Gross earnings
of the new organ$82,687 other obligations and all other outstanding indebtedness
$70,961
$54,506
Net earnings, after taxes
only inter-corporate
except
companies,
controlled
several
its
of
and
ization
30,955
27,700
28,065
Fixed charges_
note issue."
collateral
such
secure
to
indebtedness and olAgations pledged
The Simmons Hardware Co. has 3 classes of stock: $1,500,000 of 6%
$51,732
$43,261
$26,441
Surplus
cumulative preferred, $1,500,000 of 8% 2d preferred non-cumulative.
1st
-V. 89, p. 1144.
and $1,500,000 of common stock, on which 7% annually has been paid for
St. Louis Sugar Co.-Consolidation.-The stockholders several years.
Two distinct propositions are submitted to each stockholder, as follows:
of the St. Louis Company and of the Holland Sugar Co. of
For each share of first pref. stock of the present company, one share of
Holland were to vote Aug.23on consolidating the companies. new pref. stock ($100) and one-half share of new common ($50) or one and
shares of new pref. ($125).
The Holland Sugar Co's capital Is $500.000, all common, par value $10 a quarter
For each share of second pref. stock, one share of new pref. ($100) and
per share; the St. Louis Sugar Co. Is capitalized at $640,000, par also in 310 one-half share of new common ($50) or one and a quarter shares of new
shares. Both companies have been paying dividends of 15% yearly. The pref. ($125).
new company proposes to erect a third sugar factory at some point not yet
For each share of common stock, one-half share of new pref. stock (550)
decided upon. C. M. McLean, manager of the Holland Sugar Co., is the and 1 Yi shares of new common stock (S150) or one and one-fifth shares of
President of the St. Louis Sugar Co.: J H. Whitney of Merrill, Vice-Pres.; new pref. stock ($120).
F. H. Hubbard, Mgr., and B. C 111;bbard, Sec. and Treas.
In addition each depositing stockholder shall receive a sum in cash equal
the dividends accrued on his deposited stock from the date of the paySalisbury Steel & Iron Co., Utica, N. Y.-New Bonds.- to
ment of the last dividend to the date from which dividends will accrue on
be computed at the rate of
An issue of $1,000,000 "1st & refunding" bonds is reported the new stock, which accrued dividends shallstocks
and of 8% per annum
7%'per annum on the first pref. and common
to have been underwritten.
on the second pref. stock. The two propositions are made so that the
and prospective diviThe company recently offered for sale at par the unsold Investor may choose between immediate dividendsmaterially
on their indends. Many of the 500 stockholders depend
portion of the $500,000 12-year 6% convertible gold bonds come
from the company.
described in V. 92, p. 601, denominations $500 and $1,000;
The reconstruction plan was formulated by a committee including
E. C. Simmons, James G. Cannon, President of the Fourth Nat. Bank.
dated Nov. 1 1910. A circular then said in substance:
N. Y., and James E. Smith. The St. Louis Union Trust Co. is depositary.
Incorp. in N. Y. State. Property in Herkimer County, N. Y. Capital
Sloss-Sheffield Steel & Iron Co.-New Director.-J. Campstock auth., $2,000,000; issued, $1,000,000,in shares of $100 each, full-paid.
Directors: Edward L. Wells, Pres., Utica; William J. Myers. V.-Pres., bell Maben Jr. has been elected a director to succeed H. O.
N. Y. City; William H. Switzer. Sec.-Trees., Utica; Henry N. Clark
Boston; Hon. George C. Wing, Auburn, Mc.; Herman W. Hoops, N. Y. City; Seixas, deceased.-V.92, p. 886.
Hon. A. M. Mills, Little Falls, N. Y.
Southern California Edison Co.-Bonds Called.-One hunThe property consists of 1,000 acres of high-grade magnetic iron ore
lands, estimated value $10,000,000, with equipment worth $608,000, viz.: dred ($100,000) Edison Electric Co. 1st & ref. M.5% bonds,
Six miles of railway, connecting the mines with the N. Y. Central By.. dated Sept. 1 1902 (Nos. 437 to 536, both inclusive), have
$160,000; concentrating plant of 1.000 tons per diem capacity,$150,000;
gas producers and engines (1,000 h. p.), $110,000;/electrical equipment, been called for payment at 110 and int. on Sept. 1 1911 at the
326,000; 1 %.miles of aerial tramway which delivers the ore to the mill, U. S. Mtge. & Trust Co., 55 Cedar St., N. Y.-V.92, p. 1705.
$22,000; buildings, &c.. $100,000; miscellaneous, $40,000.
The company has opened up over 10,000,000 tons of high-grade ore,
Standard Steel Works Co.-Merger.-See Baldwin Locoextending over a square mile In area, and averaging 60% metallic iron, low
1703.-V. 92, p. 1247.
In sulphur and phosphorus. The crude concentrates are In great demand motive Works, V. 92, p.
In blast furnaces and steel works running on basic pig and foundry iron.
-Stock.-The company has
Cleveland.
Co.,
Tool
Standard
In
furnaces
independent
crude
ore
shipping
to
the
The company has been
Western New York and Eastern Pennsylvania for approximately five years; increased its capital stock from $1,000,000 to $1,500,000.
and now, with Its new milling plant in operation, is turning out the highest -V. 86, p. 340.
grade of magnetic Iron ore, In the form of cobbed ore and concentrates.
Present production capacity 350 tons per day, which will be brought up
Stone Limited (formerly Toronto Lithographing Co.)'
to approximately 500 tons daily at an early day. Average net profit
in excess of $2 per ton, after allowing for all overhead charges. Before Toronto.-Bonds Offered.-The Canada Securities CorporaNov. 1 1912 the production should approximate 1,000 tons per day, the tion, Ltd., Montreal, recently offered for sale the present
capacity of the recently installed concentrating plant. That will indicate
net earnings of $600,000 per annum (300 days' operation); from this deduct issue of $200,000 1st M. 6% 20-year sinking fund bonds
$30,000 for interest, $30,000 for sinking fund, $60,000 for maintenance and dated March 1 1911 and due March 11931, but callable on or
taxes and $50,000 for development.
At the mill the ore passes through three heavy Blake crushers on to re- after March 1 1916 at 105. Int. M. & S. at Toronto. Gen.
volving screens, from which it passes to a series of electric cobbing ma- Trust Corp., trustee. Total auth., $300,000.
chines that separate the shipping ore: the reject is conveyed to Cornish
Incorp. Feb. 15 1911 with a Dominion charter. Capital stock auth..
and finishing rolls, and then to the magnetic belt separators, which eliminate
issued, $1,000,000 comall foreign substances; and render these rejects a very superior grade of $1,200,000 common and $800,000 7% cum. pref.;
mon and $550,000 pref. Par $100 a share. An advertisement says: "Real
magnetic iron concentrates.-V. 92, p. 601.
estate and buildings equal to present bond issue; total assets some four times
Earnings over 4 M times annual bond charge. The HeubnerSan Antonio Land & Irrigation Co., Ltd., Toronto.- this amount.
Illeistein process, of which Stone Limited have purchased the sole Canadian
Bonds, &c.-The Bank of Scotland at London in May last rights,
should double present earnings." William Stone is Pres. and W.J.
received subscriptions at £99% for £1,200,000 6% 1st M. Stone Sec.-Trees. J. W. Van Allan of Buffalo is a director.
12-year bonds, with a 20% bonus in fully-paid shares
Temescal Water Co. California.-Guar. Bonds.-See Co(equivalent, at the rate of $5 to the d1, to one share of $100 rona City Water Co. above.
of
£100
be
to
obtained
bonds),
every
said
bonus
for
par value
Status.-Wm.R. Staats Co., Los Angeles, on July 20 1911,
by lodging the bonds with the Bank of Scotland at any time replying to our inquiry, wrote in substance:
1913.
1
to
Nov.
up
and
1913
1
May
after
`flits corporation is a "mutual company," that is, the holders of the land
Part of an authorized issue of £1,600,000 8% bonds to be secured by trust
deed dated May 1 1911 (Empire Trust Co. of N. Y., trustee) on all the lands
of the company and on the bonds and capital stock of the Medina Irrigation
Co. Dated May 1 1911, repayable May 1 1923 at 105. The proceeds of
the sale of all lauds, after payment of the administration charges and the
interest on the bonds not met by other income will he annlied to redetention
of the bonds.t_The company has the right:to redeem all:oCany part:at3105
under the water system are also the stockholders of the company. The
company owns about 6,000 acres of water-bearing land in the Temescal
Canyon and Perris Valley, and it is now delivering about 1,000 miners'Inches
of water to its consumers, who own between 4,000 and 5,000 acres of
highly-developed and productive citrus land in and around Corona, Riverside County, Cal. To carry this water, it has approximately 50 miles of
pipe and concrete ditches, the pipei(about:hrof the total length) ranging
538
THE CHRONICLE
In size from 22 to 36 in.; also an electric generating plant, capacity 500 h.. p.,
from which plant seven pumping stations are operated by electricity.
Only $.500,000 Bonds Against Co's Properties, Valued at $1,000,000.
Temescal Water Co. 1st M. serial 6% bonds (int. A. 86 0.),
auth.
Issue, $350,000; redeemed, $100,000; outstanding, due $25,000
annually, 1912 to 1921
Corona Power & Water 1st M.6% bonds, dated Mch. 1 1903, due 250,000
Mch. 1 1923 (a 1st M. made On property subsequently sold
to
Temescal Water Co), auth. and outstanding
250,000
Texas Company.—Annullment of Agreement.—See Central
Fuel Oil Co. above.—V. 93, p. 233.
Union Electric Light & Power Co. of St. Louis.—Ordinance
Reducing Rate.—Mayor Kreismann on April 12 signed the
city ordinance passed by the City Council reducing the
maximum rate charged by the company from 12 cents to
9.5 cents per kilowatt hour.
The Municipal Public Service Commission, after
investigation,agreed
to the correctness of the company's statements as toan
its rates and revenues,
but recommended the passage of the ordinance, which will
go into effect in
six months, and will also reduce the minimum service charge
to 50 cents
a month.
Called.—Twenty Imperial Electric Light,Heat & Power Co.
1st M. 5% gold bonds were drawn for redemption on
April 1 at 105 and int. at the office of the New York Trust
Co., this city.—V. 93, p. 109.
Union Ferry Co., New York.—Increase in Fare to 5 Cents.—
This company, operating the Hamilton Ave,, Atlantic Ave.,
Wall St., Fulton St. and Catharine St. ferries, has issued a
circular saying:
Owing to the great decrease in the volume of its business, the company
finds that at the present rates of fare it will not be able to operate
its ferries
as public convenience demands without serious . pecuniary loss.
It is,
therefore, compelled to increase its passenger rate to 5 cents. The present
rate of 3 cents will be continued between the hours of 5 and 7
a.
m.
and
5 and 7 p. m. week days.—V. 91. p. 1715.
[VoL. Lxxxxm.
holders on Aug. 2 authorized an issue of $5,000,000 bonds,
which, it is reported, have been sold in the East in order to
provide working capital. The plant, it is said, has again
been placed in operation.
The company waS incorporated under the laws of the State of Washington on Aug. 2 1900, and took over (1) some $2,768,000 of the $3,000,000
stock of the Western Coal & Iron Corporation of Canada, owner
of over
20,000 acres of coal lands located on Graham Island,.B.C., and of mineral
claims adjoining Barclay and Quatsino sounds,B. C., and in Lyon
Co.,
Nev.,
covering extensive deposits of magnetic and bog iron ore; (2) the then
uncompleted steel plant of the Irondale Steel Co. at Irondale, Wash., along
with the extensive deposits of coal held under lease at Ashford, Pierce
County, Wash., and deposits of bog hematite in Snohomish County. In
July 1910 the new company put in operation a blast furnace at Irondale
(capacity 90-tons daily), two open-hearth furnaces and
two roiling mills.
In January last Vice-Pres. Herbert E. Law of San Francisco
sold his interest
in the company, said to have been about $500,000, to the President,
A. Moore of Seattle. In 1910 a mortgage was filed to the CarnegieJames
Co. of N. Y. to secure $2,000,000 of 6% bonds. Later it was reportedTrust
that
arrangements had been made for a $10,000,000 loan, of which $3,000,000
had been or would be placed abroad; but it Is doubtful if any of the
$10,000,000 issue was ever placed.
Extensive additions have been made to the Irondale plant, including
rolling mills, &c. Press dispatches stated that part of the proceeds
the
$10,000,000 loan would be used for the establishment of a large steel of
to cost $2,000,000 or more, at a point near New Westminster, B. C.plant,
The
British Columbia Steel Corporation was incorporated [at Ottawa]
last, with $10,000,000 stock, to establish a steel plant in that in March
vicinity.
possibly in the interest of the Western Steel Corporation, but nothing
has
of late been heard of the British Columbia project.
The company's balance sheet of Nov. 1 1910 showed outstanding $20,000,000 capital stock in $100 shares ($5,000,000 being 6,y• non-cumulative
pref.) and $2,000,000 1st M.gold 6s dated Oct. 1 1910 and‘
due Oct. 1 1930,
these, with a surplus of $15,525,000, making a total of
$37,525,000. Offsets: Coal lands, $23,000,000; iron ore lands, $12,875,000; plant, real
estate.
&c., $1,000,000; limestone and dolomite properties, $100,000; timber
holdings, 8550.000.
Board of Trustees.—James A. Moore, President, Seattle; Jacob
Furth.
Chairman of board of Seattle Nat. Bank, Chairman of Seattle Electric
By.:
M. F. Backus, Pres. of Nat. Bank of Commerce; C. J.
Smith, V.-Pres. of
Dexter Horton Nat. Bank; J. D. Hoge, Pres. Union Savings
& Trust Co.;
J. C. Eden, Pres. Superior-Portland Cement Co.;
P. Jamison and J. E.
Chilberg, Pres. Scandinavian-American Bank; J. D.
E'Lowman, Pres. Seattle
Chamber of Commerce, all of Seattle. Hon. Thos.
Burke, lawyer and
capitalist; S.A. Perkins, owner f two leading newspapers
in Tacoma, also
Perkins Block, Tacoma, and director of Nat. Bank of Commerce,
Tacoma.
Leslie M. Shaw, Pres. First Mortgage Guarantee & Trust Co.,
Robert Dollar, Pres. Robert Dollar Steamship Co., San Francisco;Phila.;
McLennan, Pres. Bank of Vancouver; Geo. M. Gibbs, banker and R. L.
broker
of British Columbia; J. T. Heffernan, Pres.
Iron Works; N. W.
.fordan. Chairman of board of American TrustHeffernan
Co., Boston; Robt. C. Morris;
J. W. Clise, director Dexter Horton Nat. Bank, Seattle.
• Union Gas & Electric
Cincinnati.—Control.—See
Columbia Gas & Electric Co.,Co.,
V.92, p. 1560.—V.91, p. 98.
Union Gas Light & Fuel Co. of Anderson, Ind.—Receiver's
Sale.—The property was sold on Feb. 10 at receiver's sale
for $200,000 to C. W. Hooven. The Anderson Gas Co. has
been incorporated, as successor, with $200,000 capital stock,
and a 5% 20-year s. fd bond issue of $243,000 dated Feb.
West Virginia Central Gas Co., Charleston, W. Va.—
20 1911, for $500; trustee, Provident Savings Bink & Trust
Stock.—The authorized capital was recently increased from
Co. of Cincinnati.
$500,000 to $2,000,000.
The incorporators of the latter arc
Clement W. Hooven, John H. Millspaugh, H. L. Millspaugh, J. C. Groble and
C. Vance. The purchase
price will be paid over in greater part to theJ.
Provident Savings Bank &
Trust Co. of Cincinnati, which has taken over by
merger the former Queen
City Savings & Trust Co. Toe latter held the stock
$292,000 of the
bonds as security for a loan. I. E. May was recentlyand
appointed receiver
to succeed C. W. Hooven, the purchaser of the property.
The sale was
confirmed by Circuit Judge Begot on Feb. 26. The
amount due on the
bonds for prin. and int. was finally found to be $534,087.—V
. 83, p. 912;
V. 90, p. 855.
An ally or subsidiary of the Eastern Oil Co. of W. Va., which
Dec. 31
1910 had outstanding $382,600 stock (par $100) on which 9%on
dividends
were paid. Howard A. Forman of Buffalo is President.
West Virginia Pulp & Paper Co.—Bonds Called.—Nineteen
5% debenture bonds of $1,000 each, dated July 1906, and
10 of $100 each, were called for payment at par and int.
on July 1 at the office of the company, 200 5th Ave., N. Y.
Union Water Co., Oakland, Cal.—New Company.—See —V.89, p. 1355.
note following People's Water Co. of Oakland in V.92,p.1107.
Whittenton Manufacturing ., Taunton, Mass.—Increase
United Mining Co., New York.—Receiver.—The "En- of Stock—Injunction.—JudgeOoSheldon
of the Supreme
gineering & Mining Journal" of New York on Jan. 25, said:
Judicial Court of Mass. on July 18 refused to dissolve an inFrank C. Baker has been appointed receiver on the application of Francis junction to prevent
carrying
the
the
out of
plan recommended
C. Nicholas, a bondholder who obtained judgment against the company for
by the directors, to reduce the common stock from $800,000
$70,017. The company is a Maine corporation incorporated five years
ago and capitalized at $8,000,000. The company holds a controlling to $100,000, and then increase the
same to $400,000, to
Interest in the United Mining & Development Co. of America, and had
raise an additional sum of $300,000.
options on numerous mining properties in the United States, Mexico and
Canada.
United States Oast Iron Pipe & Foundry Co., New York.
—Circular as to Dividend Suspension.—President L. R. Lemoine in a circular dated Aug. 15 1911, in which is cited the
resolution of the board published last week (p. 475), says:
In common with all manufacturers of iron and steel, this company has
suffered more or less from the general depression. The low prices for pipe
within the past two years make it even more than ever essential to bring
the company's several plants to a state of maximum efficiency; and the
studies so far made to this end indicate that considerable outlays will be
involved. The management, therefore, have concluded to temporarily
take care of these extraordinary expenditures from earnings, and confidently expect the improvements and economics that will be effected will
result in such material reduction in costs as will greatly strengthen tile
company's position.
Judge Morton had previously dismissed the bill in equity brought by
Edward D. Page and other minority stockholders, who claimed that the
scheme, if carried into effect, would deprive them of voting power.
The plaintiffs have appealed from the decree of Judge Morton to the full
Court on the question as to whether the statutes authorize a plan such as
that proposed. Judge Sheldon stated that if the plaintiffs prevoiled they
would lose all rights to which they might be entitled if in the meantime the
injunction had been dissolved, but suggested that if the defendants should
offer to file a bond. to protect the plaintiffs he might entertain a motion
to dissolve the injunction.
The meeting called recently was therefore postponed.
Wisconsin Engine Co.,Corliss, Wis.—New Control.—This
company,having passed under the control of Pittsburgh and
Milwaukee interests, was on Feb. 28 1911 re-incorporated
under Wisconsin laws as "The Wisconsin Engine Co.," with
New Transfer Agent.—The Knickerbocker Trust Co. has $700,000 capital stock.
re-incorporation was accompanied by a "heavy writing down of assets
been made transfer agent for the stock. The Central Trust of The
the old company and the introduction of large atnounts of now money."
Co. will continue to act as registrar.
In addition to the Corliss engines, will manufacture
the Adams gas engine
units of 300 to 3,000 h. p. The new President is E. T. Adams. who
was
Atguisition.—See Dimmick Pipe Co. above.—V. 93, p. in
paRviously connected with the gas-engine department of the Westinghouse
Machine Works and the Allis-Chalmers Co.—V.82, p. 702.
475, 52.
United States Finishing Co., Norwich, Conn.—Ally
—R.H. Coble & Co. is the name of a new Chicago financial
Increases Stock.—The Sterling Securities Co. of Norwich
(V. 84, p. 512; V. 90, p. 788) tiled on Jan. 27 a certificate of firm organized for the purpose of transacting a general
brokerage
business in stocks, bonds, bank stocks and other
increase of $50,000 in the capital stock.—V.91 p. 1252.
Virginia-Carolina Chemical Co.—Listed.—The New York investment securities. They have opened offices on the
third
floor of the Harris Trust Building. Reginald H.
Stock Exchange has authorized the listing of the $2,000,000
preferred stock recently offered to the stockholders at $115 per Coble, the senior partner, was associated with Zeiler, Fairman
& Co. for several
and Waiter L. Melick, the junior
share, on notice of issuance and payment in full, making the
years,& Co.
total amount to.be listed $20,000,000. Compare V. 93, partner, with A. E. Butler
p. 284, 294, 233, 227.
—Attention is called to the offering by Indianapolis houses
Warren Brothers Co. (Asphalt), Boston.—New Stock.— of $1,325,000 Hawaii public improvement 4% gold bonds
dated
Aug. 11911. These bonds are issued under authority
This West Virginia corporation filed on April 30 a certificate
of increase of capital stock from $3,600,000 to $4,500,000. of the United States and are acceptable as security for postal
savings
funds or for new Government deposits, and are tax—V. 90, p. 171.
See particulars in the advertisement on another
Warren Burnham Co.(Contractors), New York.—Stock Re- exempt.
page.
duction.—This N. J. corporation in March last reduced its
common stock from $5,710,000 to $1,142,000, by reducing
—Ackermann & Coles, 20 Broad St.,this city, have supplethe par value of each share from $100 to $20, and decreased mented the usual annual edition of their card on Standard
its pref. stock (7% cum., pref. p. & d.) from $2,855,000 to Oil stock by the issuance of a new card containing the in$1,400,900, by purchasing pro rata at $100a share $1,392,700 formation brought down to Aug. 15 1911. The card gives
stock in connection with 'the cancellation of $62,300 of the highest and lowest prices with dividends, since 1898,
treasury stock. Pres. Robert W. Kelly; Sec., F. W.White., and its appearance is very timely.
New York office, 26 Beaver St.
—E. H. Rollins & Sons are offering Minneapolis 4%
Western Steel Corporation, Irondale, Wash.—Bonds:—A bonds, Pasadena,
Cal., 43'o% bonds and Harlingen, Tex.,
press dispatch from Irondale, Wash., states that the share- 5%
bonds. Special circulars will be mailed on request.
AUG. 26 1911.]
rght Colvontrtiat puirL
COMMERCIAL EPITOME.
Friday Night, August 25 1911.
Trade conditions on the whole indicate a fairly well sustained improvement. It is true, nevertheless, that conservatism yet rules everywhere and recent labor troubles at
the West and in England and the Moroccan situation, together with the reducing of its working forces by a large
Western railroad system, have occasioned much hesitation.
However, the recent widespread retrenchment in the railroad world will, it is generally believed,in the end make for
sounder conditions.
LARD has continued steady, with packing interests,
however, selling; there has been considerable export demand;
prime Western here 9.60c., City 8%c., refined for the Continent 9.80c., South America 10.75c., Brazil in kegs 11.75c.
Futures have at times risen on buying by foreigners and by
packers, although there has been some weakness in hog
prices.
OF LARD FUTURES IN NEW YORK.
DAILY CLOSING PRICES
Fri.
Tues.
Thurs.
Mon.
Sat.
Wed.
9.40
9.59
9.59
9.48
0.35
September delivery_ _ 9.35
9.25
9.17
9.12
9.15
9.08
8.90
January delivery
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Fri.
Mon.
Sat.
Thurs.
7'ues.
Wed.
9.25
9.25
9.15
9.27
9.173i 9.123.
September delivery_
9.00
8.85
8.95
9.00
8.90
8.85
January delivery
PORK has continued rather easy under predictions of
large receipts of hogs, and a slow cash demand; mess here
$19(019 50, clears $16 50@$17 50 and family $18 75©
$20. Cut meats have been in fair demand, with offerings
light. Pickled hams 14©14%c., pickled bellies, clear,
2c. and pickled ribs still nominally 11%©12%c.
13()143/
Beef has been quiet and steady; mess, $10 50 to $11, packet
$12 to $12 50, family $12 50 to $13 and extra India mess
/c. for City. Steg,r$18 50 to $19. Tallow has risen to 63
4c. for oleo and 11©12c. for New York lard.
ineS 9% to 93
Butter firm and held higher; choice grades have been in light
supply. Creamery extras, 27c., firsts 24 to 253c. Cheese
higher with State, whole milk, colored, fancy, 12% to 13c.
Eggs, Western firsts, 163/i to 173'c.
IL.-Domestic linseed has been quiet. City, raw,
American seed, still 85 to 86c.; boiled, 86 to 87c.; Calcutta,
raw, 95c. to $1. Cottonseed steady, with supplies moderate.
Winter 5.90c., summer white 5.80c., crude 4.74c. Cocoanut
quiet and steady at nominally 9%c. for Cochin and Ceylon.
Corn 6.10 to 6.15e. Lard has been firmer; prime 77 to 80c.,
No. 1 extra 56 to 60c. Cod, owing to light supplies, has
been nominal as to prices. Newfoundland 56 to 57c. and
54 to 56c. for domestic.
COFFEE on the spot has been somewhat easier. Rio
% to 13 8c.
No. 7, 13% to 1334c., and No. 4 Santos 133
Futures have declined at times under realizing and somewhat
larger primary receipts, but recently there has been bull
support. Closing prices were as follow :
11.11011.12
August __ _11.790 11.80 December 11.24011.25 April
11.11011.12
Sept
11.796011.80 January _ _11.17011.18 May
11.11011.12
October__ _11.42 11.45 February _11.13011.14 June
11.11011.12
November 11.31@11.32 March ___ _11.11011.12 July
SUGAR.-Raw has again advanced; European beet-sugar
markets have reflected beneficial rains, but stocks here are
low. Centrifugal, 96-degrees test, 5©5.123-c.; muscovado,
2c.; molasses, 89-degrees test,
89-degrees test, 4.50©4.623/
4.25(§,4.37%c. Refined, granulated, 5.95 ©6.05c. Teas
firmly held, with Formosas in good demand.
PETROLEUM has been stagnant as to home trade; exporters still dominate the market. Refined, barrels, 7.25c.;
bulk, 3.75c., and cases 8.75c. Gasoline, in 100-gallon
drums, 183
/0.; drums $8 50 extra. Naphtha, 73 to 76
degrees, in 100-gallon drums, 16Nc.• drums $8 50 extra.
Spirits of turpentine easier at 55Ac. Rosin $6 15 for
strained, common to good. Hops firm. Hemp dull.
TOBACCO.-Very little change is apparent in the tobacco market. Prices hold steady, with manufacturers in
most instances literally buying only on a "hand-to-mouth"
basis. There has been, however, a fair inquiry for Sumatra
at steady prices. Crop accounts are rather mixed; Wisconsin
has again complained of drought, while in the Eastern States
the crop outlook is generally favorable. In Kentucky the
crop of burley tobacco is expected to be extremely small.
COPPER has been quiet and at times slightly lower; the
export demand,however, has been fair. Lake 12%©12%c.,
electrolytic 12%©12%c. standard 12©12.25c. Tin easier;
spot and August here 42443%c. Spelter 5.90c. Lead dull
at 4.42%c. Pig iron has been in fair inquiry for small lots.
There has been a fair demand from the interior. No. 1
Northern $15 15©$15 75, No. 2 Southern $14 50©$14 75.
Steel products have shown irregularity, with some cutting of
prices, particularly in the East. The U. S. Steel Corp.'s
ingot outptit has latterly been at 75% of capacity. However, there have been encouraging developments in structural
steel. Although most of the inquiry has come from interior
points, yet, there have been some fair-sized orders booked for
the East. Some of the structural steel mills have latterly been
operating at 90% of their capacity. Orders too, have been
placed, or are about to be placed, for around 100 steel cars
by Eastern railroads. One of the smaller steel conwanies has
received a contract for the equipment of a large flour mill in
Winona, Minn.
539
THE CHRONICLE
COTTON.
•Friday Night, August 25 1911.
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
91,507 bales, against 38,537 bales last week and 20,30
bales the previous week, making the total receipts since
Sept. 1 1910 8,559,233 bales, against 7,356,160 bales
for the same period of 1909-10, showing an increase since
Sept. 1 1910 of 1,203,173 bales.
Receipts at-
Sat.
Mon.
Tues.
Wed.
Thurs.
F11.
12,325 11,054 13,925 11,803 9,33'7 12,289
Galveston
Port Arthur_ _ _ _
--__
2,-315,-1 ----------------Texas City, &c
314 1,053
101
505
316 1-1155
New Orleans=
Gulfport
1
13 - -F5 - -- - --i5 -ii
Mobile
____
____
-_-_-_-_
___
Pensacola
___
45
Jacksonville, &c. ____
492
756 .1,697 1,503 3,266 4,108
Savannah
------------550
Brunswick
101
48
45
17 ---_
13
Charleston
__
Georgetown
8-5 -------------------14
Wilmington
262
-643 -237 -----1-5____
Norfolk
N'port News, &c
---- ----- ---- ---____
____
____
____
____
____
New York
____
____
____
25
____
Boston
213
Baltimore
____
____
____
____
____
____
Philadelphia_ _ _ _
Totals this week_ 15,385 12,799 17,027 14,625 12.992 18.679
Total.
'70,'733
_
2,304
3.843
--ii
45
12,222
550
_ 224_
iii3
1,157
- - -____
25
213
_ __ _
91.507
The following shows the week's total receipts, the total
since Sept. 1 1910; and the stocks to-night, compared with
last year:
1909-10.
1910-11.
Receipts to
August 25
This 1Since Sep This Since Sep
Week. 11910. Week. 1 1909.
70,73312,868,650 46,129 2,543,874
Galveston
142,381
206,943
Port Arthur_
72,300
Texas City, &c.. _ 2,3041 363,098 _ .__ _ 1,309,201
754
New Orleans_ _ _ _ 3,8431,392,094
$4,2118,892
Gulfport
126 254,624
88 250,022
Mobile
123,906138,104
Pensacola
100 39,780
45 26,148
Jacksonville, &c _
12,222 1,440,976 3,535 1,364,951
Savannah •
229,426
550 223,286
Brunswick
224 285,321 1,426 228,699
Charleston
1,376
1,454
Georgetown
312,611
103 410.909
_
Wilmington
1,157 560,385 2,686 548,239
Norfolk
18,780
3,924
N'port News, &c.
14,711
494 .42,911
New York
25
14,635
71
38,955
Boston
1,258
82,786
213 113,725
Baltimore
515
2,581
Philadelphia
------ 141 7.07 A 559 9an 59 579 7 :ma lan
Total
Stock.
1911.
53,550
1910.
37,456
20,308
459
20,405
324
13,278
1,001
3.641
124
6,058
1,588
1,366
1,228
82,891
4,270
258
1,015
165,959
1,652
1,140
1,704
1RA 1111
99A 15A
484
158
In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
16,4411 1906.
1907.
1908.
1909.
1910.
1911.
56,071
_ _ _ 70,733 46,129 19,523 48,158
18
2,304
Pt.Arthur,&c.
5,549
1,134
3,397
754
3,099
3,843
New Orleans_
1,650
75
3,191
72
126
88
Mobile
6,721
2,931
3,535 10,167 10,836
Savannah _ _ _ 12,222
4,728
550
Brunswick_ _ _
350
362
434
133
224
1,426
Charleston,&c
2
89
103
Wilmington_ _
1,742
467
344
414
2.686
1,157
Norfolk
268
278
N'port N., ece
2,235
352
278
665
1.923
283
All. others_ _ _ _
Total this wk_ 91,507 56,579 34,162 71,720 21,688 74,604
Since Sept. 1_ 8,559,233 7,350,160 9,885,990 8.382,007 9,714,160 7,935,863
The exports for the week ending this evening reach a total
of 50,726 bales, of which 11,544 were to Great Britain,
13,353 to France and 25,829 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1910:
Receipts at-
Galveston
1 1910 to Aug. 25 1911
Exported toGreat I
Conti- I
Great I
i- I Total.
i.
ent
nan
Britain.Frnce. neat. I Total.' Britain. ;France .1 C
Week ending Aug. 25
Exported to-
Exports
from-
1911.
From Sept.
Galveston ____ 7,18110,533 12,7961 30,510, 959,848311,4661,098.5462,367,860
44,898 54,959 107,076; 206,943
Port Arthur_ _
2-,:3541 2-,55:11 212,816 56,933 35,728 305,477
Texas City,&-c.
1,2781 1,278 886,946144,879 471,6151,503,440
New Orleans_ _,
_1 ,68,736 42,754 73,388 184,878
Mobile
,
I 56,308 30,595, 37,1031 124,006
Pensacola
6,2711 19,3381 8,602 34,211
Gulfport
_ __ _ .. 2.'75-21
.
2_-.7-_52 324,488114,600 466,889! 905,977
Savannah _ _ _ _
4,133: ____1 78,325' 182,458
Brunswick___
97,3511 126,083
---------- ----- --18,832 9,900 213,226,
Charleston__ -_ 383,112
____ 137,8711 32,015
-- -Wilmington
5,180 15,981
____
10,8011
,
Norfolk
-_
1
_
Newport News.
96,840 334,8511 742,367
New York....„.; 4,363 2,820 6,299:I 13,482 310,676!
8,858 110,239
101,3811 __-_
Boston
1
22,364 8,530 83,0941 113,988
I
Baltimore
:::: 51,218 ____ 16,114 67,332
Philadelphia _J
,
669
669
Portland, Me_ _!
84,9551 84,955
San Francisco_l --------400, -i50
45,2441 45,244
-I
I
Seattle
11,8761 11.876
" -500
Tacoma500
1
Portland, Ore- ------------Pembina
I 2,627
____
2,627
Detroit
,
---------,-------20,223
83922,8
. -i 25,829 50,7263,320,8193.276,5217,5
335
,54-417
1111-'Fetal
---- ----,144,232
16,385
27,87410,442
54,7012318,098940,1472,785,9876
Total 1909-10_
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.
540
THE CHRONICLE
27 11,599
646 37,264
150
1,555
500
-8;i6
4,100
100
14,709
16,286
13,128
3,641
450
687
78,791
8,588
Total 1911
20,212 1,990 22.700
Total 1910... 15,758 11,914 14,276
Total 1909..
4,147 7,200 8,765
7,620
4,356
6,830
1,352 53,892
2,397 48,701
2,640 29,562
134,269
189,455
150,348
2,300
100
679
Speculation in cotton for future delivery has been less
active pending the Government condition report, which is
due on Friday, Sept. 1. The net result of the week has been
an advance of from 23 to 30 points on September and the
later months, while August has risen 67 points. The newcrop months have been affected by some unfavorable crop
and weather advices, which have induced short covering as
well as some trade buying, although the latter was of moderate proportions. Short covering has also been evident in
the August position, as certificated stocks of raw cotton at
New York are but some 50,000 bales,and are controlled by
strong interests. Recollection of the violent rise in August
contracts a year ago at about this time has not been without
its sentimental effect. Until latterly the weather in the
Southwest has been excessively hot, dry and unfavorable,
temperatures in some instances reaching 110 degrees. In
Mississippi the rainfall, it is claimed, has been excessive.
There have also been some complaints that more rain is
needed in the eastern part of the cotton belt and of rust,
and shedding in Georgia, Alabama and Texas, in which lastnamed State it is, moreover, averred that much of the newcrop cotton is of poor staple. Some unfavorable crop accounts have likewise come in from Mississippi; that is to
say, of excessive rain having caused rank growth and insect damage; and it is also claimed that in Texas there
has been difficulty in securing ample labor for picking,
and that because of this some new cotton has
been lost.
Besides, recent reports from the dry
goods market have been somewhat more optimistic.
But the weather and crop advices have in the main been
favorable, the receipts of new cotton have loomed big, the
English labor disputes have until recently been discouraging
in so far as the English export business is concerned, and it
has been asserted that unless English buyers soon come into
the spot markets of Texas, congestion of actual cotton is
threatened at points of accumulation in that State, and that,
therefore, it will become necessary to hedge this spot cotton
by sales of futures. Also, curtailment of production has increased almost everywhere. Latterly the weather conditions in the Southwest and in the South Central belt have
distinctly improved, as good rains with lower temperatures
have occurred in Texas and Oklahoma, and there has been
a sharp diminution in the Mississippi rainfall, which has until
recently been regarded as excessive. New cotton is now
moving in a round half-dozen of the producing States, particularly in Texas, Galveston having thus far this season
received nearly double as much new-crop cotton as in August
a year ago. Hedging sales of futures by large spot houses
has already become apparent, while many favorable public
and private crop accounts have been received. The very
careful cultivation and the larger use of fertilizers have undoubtedly been extremely beneficial, as shown by numerous
glowing crop accounts. Moreover, there has been a minimum, if any, re-planting, or abandonment of acreage, and
the South has persistently sold futures on all advances, as
have Wall Street interests to some extent. To-day prices
advanced sharply on short covering, which was based on some
unfavorable crop accounts, more favorable reports as to the
English labor situation and a marked diminution of Southern
selling. Spot cotton has advanced to 13.15c., a rise of 65
points for the week.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Aug. 19 to Aug. 25Middling uplands
Sat.
12.50
Mon. Tues.
12.50 12.60
Wed. Thurs. Fri.
12.70 12.70 13.16
NEW YORK QUOTATIONS FOR 32 YEARS.
1911.c
1910
1909
1908
1907
1906
1905
1904
13.15
16.40
12.85
0.80
13.35
9.90
11.15
11.20
1903_c
1902
1901
1900
1899
1898
1897
1896
12.75
9.00
8.50
9.62
6.25
5.75
8.06
8.38
1895_c
1894
1893
1892
1891
1890
1889
1888
7.81
7.00
7.25
7.12
8.00
11.31
11.50
10.62
1887_c
1886
1885
1884
1883
1882
1881
1880
0.88
9.25
10.31
10.75
10.12
12.94
12.12
11.94
MARKET AND SALES AT NEW YORK.
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
show at a glance how the market for spot and futures closed
on same days.
Spot Market
Closed.
Futures
Market
Closed.
Saturday__ _ Quiet
Quiet
Monday_
_ Quiet
Steady
Tuesday _-. Wet, 10 pts. adv_ _ Steady
Wednesday- _ .Quiet, 10 pts. adv_ - Steady
Thursday _ _ Quiet
Steady
Friday
Quiet, 45 pt, adv_ Firm
•
Total_
SALES.
Spot. Contr'd Total.
1,150
1,150
1,150
1,150
Friday,
Aug. 23.
230
6,899
Thursday, ,
Aug. 24.
19 3,006
1,980 18,394
Wednesday,
Aug. 23.
8,317
9,345
150
FUTURES.-The highest, lowest and closing prices at
New York the past week have been as follows:
Tuesday,
Aug. 22.
New Orleans.._ I
Galveston
Savannah ____
Charleston_
Mobile
Norfolk
New York_ _
Other ports__ _
Leaving
Stock.
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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 25Stock at Liverpool
Stock at London
Stock at Manchester
1911.
bales. 513,000
12,000
31,000
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
556,000
14,000
34,000
62,000
2,000
18,000
16,000
7,000
153,000
Total European stocks
709,000
India cotton afloat for Europe__ _
48,000
Amer. cotton afloat for Europe
50,080
Egypt,Brazil,&c.,aflt.for Europe_
22,000
Stock in Alexandria, Egypt
61,000
Stock in Bombay, India
439,000
Stock in 11. S. ports
188,161
Stock in U. S. interior towns._
99,110
U. S.'exports to-day
14,612
1910.
326,000
8,000
25,000
1909.
850,000
15,000
53,000
1908.
382,000
10,000
45,000
359,000
12,000
75,000
72,000
2,000
11,000
19,000
7,000
918,000
9,000
145,000
172,000
3,000
23,000
18,000
5,000
437.000
24,000
171,000
89,000
4,000
22,000
13,000
18,000
198,000
375,000
341,000
557,000 1,293,000
62,000
59,000
69,332
52,434
16,000
18,000
35,000
51,000
455,000 201,000
238,156
179,020
48,303
82,981
7,000
7,678
778,000
54,000
96,171
16,000
61,000
407,000
179,525
117,335
4,510
Total visible supply
1,631,863 1,487,791 1,945,023 1.713,541
Of the above, totals of American and other descriptions are as follows:
AmericanLiverpool stock
bales. 325,000 235,000 754,000 277,000
Manchester stock
40,000
34,000
20,000
19,000
Continental stock
107,000
143,000 339,000 261,000
American afloat for Europe
52,435
96,171
69,332
50,980
U. S. port stocks
238,156
179,930
179,525
188,161
U. S. interior stocks
48,303
82,981
117,335
09,110
U. S. exports to-day
7,000
7,678
4,510
14,612
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
894,863
759,791 1,456,023
009,541
178,000
12,000
11,000
46,000
48,000
22,000
81,000
439,000
91,000
8,000
6,000
55,000
62,000
16,000
35,000
455,000
96,000
15,000
13,000
36,000
59,000
18,000
51,000
201,000
105,000
10,000
11,000
80,000
54,000
16,000
61,000
407,000
827,000
804,863
728,000 489,000
759,791 1,450,023
744,000
969,541
Total visible supply
1.631,863 1,487,791 1,945,023 1,713,541
Middling Uplands, Liverpool_
8.14d.
6.73d.
6.88d.
5.25d.
Middling Uplands, New York
16.40c.
13.15c.
12.85o.
9.50c.
Egypt, Good Brown, Liverpool
13'Md. 9 15-16d. 8 5-16d.
10 54d.
Peruvian, Rough Good. Liverpool 10.40d.
10.75d.
8.35d,
8.80d.
Broach, Fine, Liverpool
64d.7H .
6U. 5 1-16d.
Tinnevelly, Good, Liverpool_...... 6 5-16d.
7 Hd. 5 15-16d. 4 13-16d.
Continental imports for the past week have been 28,000
bales.
The above figures for 1911 show an increase over last week
of 13,783 bales, a gain of 144,072 bales over 1910, a decrease of 313,160 bales from 1909, and a loss of 81,678
bales from 1908.
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.
to August 26 1910.
CADDV.NM010ONNNOhhaih003V1000000..60 i 1 10 1
0 .
01000hh.0000001-1 OMNIN00.1. .0000 . I1 .
10 t
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.
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.
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4..erepoW0VONO0NhVMDONNVOON.000000ONV
• ..,,,..00.00m°00.000WV.0..nMOOVhOh004
DOMMVCONNVOVW0000N0.VMOVMON000VMMhh=
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83,39316,180,963
Movement to August 25 1911.
00 iva040.N0MNN .MhOMMVOCOM. 'Cl IN II
00.0 I. 10
NO I.VhWVM.00N . 000
N0 Cl 11-4 10 I
0 .141') '
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Galveston
New Orleans__ _
Mobile
Savannah
Charleston
Wilmington..
Norfolk
Baltimore
Philadelphia
Augusta
Memphis
St. Louis
Houston
Little Rock_ __ _
Sat'day. Monday. Tuesday. Wed'day. Thursd'y. Friday.
12
11%
ii'4
11 15-18
12311 15-16
11%
11 15-16
12 34
11 15-16
111%
11 15-16
12%
12
11 %
11 15-16
12Y
12
ii',
11 15-16
123-16
12
111
11 15-16
12
12'4
12.75
11%
13
12'4
12 3-16
12%
12'4
12.75
11%
13
12
12
12'4
12'%
12.85
11%
13
12'4
12
12'4
12'%
12.95
11%
13
12%
12
12'4
2.95
1M
33
2 fri
12
12
12
13.40
12
13
12'4
12%
NEW ORLEANS OPTION MARKET.-The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sarday, Monday, Tuesday, Wed'day, Thursd'y, Friday,
Aug. 19. Aug. 21. Aug. 22. Aug. 23. Aug. 24. Aug. 25.
0000MO03NOn000000000.003 iMOMVO I Irep o
1
..WOMCDOOVVVN.NVNOOMChh 10,000I I.
h1000
.
0 IVOONO I I 0 1
.
. 00
.0
Cl
M 00h
I ci• I
cion'Iso 1.41.
Cl 4,..
7-1
Cl
Cl
Ap
Closing Quotations for Middling Cotton onWeek ending
August 25.
ICOMN
00V IhCO.
N.= 1101310
.
1
C‘
NVO .0000.00N00.110M
.00
.NO 1000h0. 00N
I Cl
N. i .00.
t;
c. -10
Cl
541
THE CHRONICLE
AUG. 26 1911.]
......
AugustRange
Closing
SeptemberRange
Closing
OctoberRange
Closing
NovemberRange
Closing
DecemberRange
Closing
JanuaryRange
. Closing
FebruaryRange
Closing
MarchRange
Closing
A pillRange
Closing
MayRange
Closing
ToneSpot
19.00 -12.02-.16 12.15-.25 12.14-.21 12.11-.16 12.18-.44
12.02-.03 12.16 -12.24-.26 12.18-.20 21.13-.15 12.44 11.26-.34- @ --- @ -11.32-.38 11.30-.36 11.38-.81
11.30-.31 11.33-.35 11.33-.36 11.38-.39 11.33-.35 11.59-.61
11.15-25 11.13-.31 11.13-.25 11.17-.28 11.17-.27 11.27-.50
11.19-.20 11.23-.24 11.23-.24 11.27-.28 11.22-.23 11.49-.50
_ ® _ _ ® _ _ ® _ _ ® _ __ ® _ _ ® 11.19 • 11.23 -11.23 -11.27 • 11.22 • 11.47-.50
11.18-.27 11.17-.35 11.16-.27 11.18-.31 11.19-.31 11.29-.53
11.23-.24 11.27-.28 11.26-.27 11.31-.32 11.25-.27 11.51-.52
11.24-.32 11.22-.40 11.22-.33 11.24-.37 11.25-.35 11.35-.58
11.29-.30 11.32-.33 11.31-.32 11.36-.37 11.30-.31 11.57-.58
_ ® __ ® _ _ ® __ ® __ ® __ ® _
11.34 • 11.37 • 11.37 • 11.41 • 11.35 • 11.62
11.36-.43 11.34-.51 11.30-.44 11.38-.48 11.38-.44 11.45-.69
11.40-.41 11.43-.44 11.43-.44 11.47-.48 11.41-.42 11.68-.69
- @ -- @ -- @ -- @ -- @ -11.74 11.45 • 11.48 • 11.48 • 11.51 * 11.46 * 11.73 _ ® _ _ ® _ _ ® _ 1._ ® _ _ ® _ _ ® 11.51-.52 11.53-.55 11.53-.54 11.57-.58 11.51-.52 11.78-.80
Quiet.
Q4.n ..1 Tr
Quiet.
Ct.'.ri lr
Quiet.
Stparl xr
Steady.
Rt.PRelv
Finn.
Strad v.
Steody.
Sten rl v.
1111
• Nominal.
oc
.
•
oo*
03-
' 0.,
•4)
‘"
3
co
i
-°-0
''''..1'4Or'.5...4v4200floP.4.54(Aaf..49. 4
OVI,25ige420ptEf
lieVtA04V-Ir44.44".T.
.4,4';'41ao-CiM86.41'Xr.36%M.C3=11147
48714
The above totals show that the interior stocks have increased during the week 4,599 bales and are to-night 50,807
bales more than at the same time last year. The receipts
at all the towns have been 23,049 bales more than the same
week last year.
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:
-1909-10--1910-11--Since
Since
August 25
Week. Sept. 1.
1Veek, Sept. 1.
Shipped463,444
2,501
524,705
1,059
Via St. Louis
185,860
214,785
392
839
Via Cairo
19,915
Via Rock Island
132,557
134,848
-iiiii
Via Louisville
1-205
80,140
49,441
532
130
Via Cincinnati
178,492
1,342
28
148,679
Via Virginia points
127
153,498
Via other routes ece171,858
-26,032
Total gross overland
2,196 1,326,569
Deduct Shipments167,906
Overland to N. Y., Boston, &e..
238
Between interior towns62,167
63,952
183
Inland, &c., from South_ _ _ _
Total to be deducted
142,913
67,374
82,601
294,025
2,741
292,888
1,775 1,032,544
2,844
862,797
421
Leaving total net overland•
5,585 1,155,685
1,823
107
811
• Including movement by rail to Canada.
The foregoing shows the week's net overland movement
has been 1,775 bales, against 2,844 bales for the week last
year, and that for the season to date the aggregate net overland exhibits an increase over a year ago of 169,747 bales.
1910 11
Since
In Sight and Spinners'
Week.
Sept. 1.
Takinas.
91,507 8,559,233
Receipts at ports to Aug. 25
._ 1,775 1,032,514
Net overland to Aug. 25_
Southern consumption to Aug.i 25 18,000 2.357,000
1909-10
Since
Sept. 1.
Week.
56,579 7,356,160
2,844
862,797
24,000 2,371,000
111,282 11,948,777
4,599
48,332
83,423 10,589,957
.2,490
x34,860
Total marketed
Interior stocks lot excess
Came Into sight during week__ _115,881
Total In sight Aug. 25
11,997,109
North.spinners' takings to Aug.25 18,213
2,178,034
85,913
10,555,097
1,004
2,140,083
z Less than Sept. 1.
Movement into sight in previous years:
Week1909-Aug
1908-Aug
1907-Aug
1906-Aug.
27
29
30
31
Bales.
90,301
106,480
69,534
115,782
Since Sept. 11908-09-Aug. 27
1907-08-Aug. 29
1906-07-Aug. 30
1905-06-Aug. 31
Bales.
_13,737,999
11,547,638
13,520,656
11,280,959
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.-Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week.
WEATHER REPORTS BY TELEGRAPH.-Our advices
by telegraph from the South this evening are of a somewhat
conflicting tenor. In portions of Texas crop deterioration
is claimed as a result of heat and dry weather, but rains m
the northern part of the State the latter part of the week are
believed to have benefited the crop in that section. Excess
of rain is complained of in portions of Arkansas and caterpillars are reported in Alabama. Beneficial rains are reported in some Atlantic Coast districts. Picking is progressing well in Texas and the crop movement there is quite free.
Galveston, Tex.-Warm weather has prevailed generally
throughout the State and is causing the crop to deteriorate.
The rains in the northern part of the State during the latter
part of the week, however, should be of benefit to the crop
there. Rain has fallen on three days during the week, the
rainfall being one inch and eighteen hundredths. The thermometer has ranged from 76 to 90, averaging 83.
Brenham Tex.-Dry all the week. Average thermometer
'102, lowest 75.
89, highest
Cuero, Tex.-We have had light rain on one day the past
week, the rainfall being thirteen hundredths of an inch. The
thermometer has averaged 90, the highest being 105 and
the lowest 75.
Dallas Tex.-Rain has fallen on three days of the week,
the rainfall being one inch and fifty-two hundredths. The
thermometer has averaged 88, ranging from 69 to 107.
Henrietta, Tex.-We have had light rain on one day during
the week, the rainfall being sixteen hundredths of an inch.
The thermometer has ranged from 66 to 108, averaging 87.
Huntsville, Tex.-Rain has fallen on one day of the week,
the rainfall being forty-eight hundredths of an inch. Average thermometer 86, highest 99, lowest 72.
Kerrville, Tex.-There , has been rain on one day during
the week, the precipitation reaching twenty-eight hundredths
of an inch. The thermometer has averaged 85, the highest
being 101 and the lowest 69.
Lampasas, Tex.-We have had no rain during the week.
The thermometer has averaged 88, ranging from 70 to 105.
Longview, Tex.-It has rained on one day of the week, the
precipitation reaching twenty-one hundredths of an inch.
The thermometer has ranged from 73 to 103, averaging 88.
Luling, Tex.-Dry all the week. Average thermometer
89, highest 101, lowest 77.
Nacogdoches, Tex.-We have had rain on one day during
the week, the precipitation reaching thirty-six hundredths
of an inch. The thermometer has averaged 83, the highest
being 94 and the lowest 71.
Palestine, Tex.-There has been no rain during the week.
The thermometer has averaged 85, ranging from 72 to 98.
Paris, Tex.-We have had showers on three days during
the week, the rainfall being twenty hundredths of an inch.
The thermometer has ranged from 66 to 105, averaging 86.
San
Tex.-There has been rain on one day of the
week toAntonio,
the extent of twenty-six hundredths of an inch, but
542
TIIE CHRONICLE
more moisture is needed. Average thermometer 86, highest
100, lowest 72.
Weatherford, Tex.-We have had good rain on two days
of the week, the rainfall being two inches and forty-one
hundredths. The thermometer has averaged 86, the highest
being 104 and the lowest 67.
Marlow, Okla.-Rain has fallen on one day during the
week, and the precipitation has been twenty hundredths of
an inch. Average thermometer 84, highest 106 and lowest 63.
Tulsa Okla.-We have had rain on two days the past week,
the rainfall being two inches and twenty-four hundredths.
The thermometer has averaged 80, the highest being 100 and
the lowest 60.
. :Alexandria, La.-Rain has fallen on two days of the week,
the rainfall being one inch and seventeen.hundredths. The
thermometer has averaged 82, ranging from 69 to 95.
Texarkana, Ark.-We have had rain on three days during
the week, the rainfall being one inch and ninety hundredths,
The thermometer has ranged from 71 to 96, averaging 83.
Chattanooga Tenn.-Rain has fallen on two days of the
week, the rainfall being twenty-eight hundredths of an inch.
Average thermometer 76, highest 91, lowest 61.
Memphis, Tenn.-Showers and heavy rains during the
week caused some deterioration in the low lands. It has
rained on four days during the week, the precipitation being
two inches and thirty-three hundredths. The thermometer
has averaged 77, the highest being 88 and the lowest 67.
Nashville, Tenn.-There has been rain on one day during
the week, the precipitation reaching eight hundredths of an
inch. The thermometer has averaged 75, ranging from
64 to 86.
New Orleans, La.-There has been rain on six days during
the week, the rainfall being four inches and twenty-two hundredths. The thermometer has ranged from 69 to 91, averaging 80.
Shreveport, La.-Rain on three days of the week, to the
extent of forty-two hundredths of an inch. Average thermometer 84, highest 97, lowest 72.
Meridian, Miss.-We have had rain on three days the past
week, the rainfall being one inch and fifty hundredths. The
thermometer has averaged 77, the highest being 88 and the
lowest 66.
Vicksburg, Miss.-It has rained on five days of the week,
the precipitation being ninety-five hundredths of an inch.
The thermometer has averaged 79, ranging from 68 to 89.
Yazoo City, Miss.-We have had rain on two days during
the week, the precipitation reaching eighty-five hundredths
of an inch. The thermometer has ranged from 67 to 91,
averaging 79.
Fort Smith, Ark.-Rain has fallen on four days of the week,.
the rainfall being three inches and fifty-eight hundredths.
Average thermometer 83, highest 98, lowest 68.
Helena, Ark.-Too much rain is damaging cotton. We
have had rain on four days during the week, the precipitation
being one inch and seventy-five hundredths. The thermometer has averaged 77, the highest being 86 and the lowest 67.
Little Rock, Ark.-It has rained on three days of the week,
the precipitation being three inches and thirteen hundredths.
The thermometer has averaged 82, ranging from 68 to 96.
Mobile, Ala.-Crop reports less favorable; complaints of
damage from too much rain; rust shedding and caterpillars.
It has rained on five days of the week, the precipitation being
two inches and forty-two hundredths. The thermometer
has averaged 81, ranging from 70 to 93.
Montgomery, Ala.-Caterpillars are very prevalent. There
has been rain on three days of the week, to the extent of
sixty-one hundredths of an inch, but more moisture is
needed. Average thermometer 79, highest 90, lowest 68.
Selma, Ala.-We have had rain on three days the past
week, the rainfall being forty-three hundredths of an inch.
The thermometer has averaged 77, the highest being 88
and the lowest 68.
ittMadison, Fla.-We have had rain on three days during
the week, to the extent of one inch and five hundredths. The
thermometer has averaged 81, ranging from 69 to 92.
Tallahassee, Fla.-We have had rain on six days during
the week, the precipitation being one inch and thirty hundredths. Thermometer has ranged from 66 to 88, averaging 77.
. Atlanta, Ga.-We have had rain on one day during the
week, the precipitation reaching twenty-two hundredths of
an inch. The thermometer has ranged from 63 to 89,
averaging 76.
Augusta, Ga.-There has been rain on two days during the
week, the precipitation reaching fifty-one hundredths of an
inch. The thermometer has averaged 79, the highest being
93 and the lowest 65.
. • Savannah, Ga.-There has been rain on three days the past
week, the rainfall being one inch and thirty hundredths. The
thermometer has ranged from 66 to 93, averaging 79.
. :Charleston, S. C.-We have had rain on two days of the
past week, the rainfall reaching one inch and thirty-five hundredths. The thermometer has averaged 81, highest being
94`and lowest 68.
Florence S. C.-We have had rain on three days during
the week,'
the precipitation reaching forty-eight hundredths
of an inch. The thermometer has ranged from 62 to 98,
averaging 80.
Charlotte, N.0.-Rain has fallen on two days of the week,
[VoL. Lxxxxm.
the rainfall being five hundredths of an inch. The thermometer has ranged from 62 to 91, averaging 76.
Raleigh, N. C.-Rain has fallen on one day of the week,
the rainfall being twenty-two hundredths of an inch. The
thermometer has ranged from 60 to 90, averaging 75.
WORLD'S SUPPLY AND TAKINGS OF COTTON.
The following brief but comprehensive statement indicates
at a glance the world's supply of cotton for the week and
since Sept. 1 for the last two seasons, from all sources from
which statistics are obtainable, also the takings or amounts
gone out of sight, for the like period.
•
Cotton Takings.
Week and Season.
1910-11.
Week.
1909-10,
Season.
Week.
Season. '
Visible supply Aug. 18
1,544,022
1,618,080
Visible supply Sept. 1
fi-31;ai
American in sight to Aug. 25_ _ _ 115,881 11,997,109
91,913 10,583,097
Bombay receipts to Aug. 24 _ _ _
8,000 3,171,000
6,000 2,489,000
Other India ship'ts to Aug. 24_ _
12,000
531,500
16,200
551,000
Alexandria receipts to Aug. 23_
100
654,800
1,010,900
Other supply to Aug. 23'
8,000
15,000
363,000
294,000
Total supply
DeductVisible supply Aug. 25
1,771,161 17,887,023 1,664,035 17,184,919
1,631,863 1,631,863 1,487,791 1,487,791
Total takings to Aug. 25
Of which American
Of which other
139,298 16,255,160
74,0,18 11.985,780
65,200 4,269,400
178,244 15,697,128
118,144 11,277,328
60,100 4,419,800
• Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
JAPANESE COTTON MILLS.-Through the courtesy of
Mr.0. Shoji, Secretary of the Japanese Spinners' Association,
we have obtained the details of operations of the cotton mills
in Japan for 1910-11, and give them below in conjunction
with the revised results for each of the three preceding years:
Years ending June 301910-11.
1909-10.
1908-09,
1007-08.
Establishments
No.
38
36
36
39
Spindles
"
2,099,764
2,004,968
1,843,598
1,695,879
..
Looms
17,202
15,515
12,176
9,243
Hands empkoyed,male"
18,195
18,337
17,391
15,399
female "
74,765
68,471
76,462
63,303
ConsumptionAmerican
lbs. 69,456,504 90,030,625 99,731,316 99,749,700
Indian
.: 372,808,800 350,134,375 261,352,561 254,088,900
Egyptian
11,374,716 12,676,808 12,139,575 7,688,183
Japanese
Chinese
79,219,308 61,644,733 55,579,575 74,510,692
Other
10,732,697 13,165,040 11,612,224 9,380,766
.6
Total
543,592,025 527,651,581 440,415,201 445,418,241
Equaling 500-1b.net bales
1,087,184
1,055,303
880,830
890,836
Yarn produced
lbs. 445,912,200 441,974.400 367,869,200 375,298,200
Piece goods produced yds 226,313,958 196,728,208 164,537,299 145,241,613
Stock of raw cotton held
at mills-400-lb. bales
261,951
279,872
324,461
227,113
COTTON CROP CIRCULAR.-Our Annual Cotton Crop
Review will appear in the "Chronicle" in the issue of September 9, but will be ready in circular form about Wednesday, September 6. Parties desiring the circular in quantities
with their business cards printed thereon should send in
their orders as soon as possible to ensure early delivery. •
EGYPTIAN COTTON CROP.-The Alexandria General
Produce Association resume of information received during
July 1911 is as follows:
Lower Egypt.-The weather until about July 20 was characterized by
damp days and cool nights, which were rather prejudicial to the normal
development of the cotton plants and favored the hatching of the eggs.
Towards the end of the month the temperature became more favorable.
The cotton plants, though showing a fairly satisfactory aspect, are neither
as strong nor as well developed as those of last year at this time. The plants
have less flowers and pods and are still late as compared to last year. The
increase of worms referred to in our last resume has been aggravated; the
damage, though it is not possible to estimate it, is, however, more important
than that of last year at the same time. The favorable temperature of
these last few days and the steps taken by the Government and the growers
have limited the damage. The water supply for irrigation purposes was
generally sufficient.
Upper Egypt and Fayoum.-The temperature in that part of the country
also has not been very favorable; however, the appearance of the cotton
plants is satisfactory. There are as many flowers and pods as last year,
though the plants are somewhat later. No appearance of worms has been
reported in Upper Egypt with the exception of the Fayoum Province,
where it seems some damage has been caused. Water there has been
sufficient.
ALEXANDRIA RECEIPTS AND SHIPMENTS OF
COTTON.-Through arrangements made with Messrs.
Choremi, Benachi & Co. of Boston and Alexandria, we now
receive a weekly cable of the movements of cotton at Alex- •
andria, Egypt. The following are the receipts and shipments for the past week and for the corresponding week
of the previous two years:
Alexandria, Egypt,
August 23.
1910-11.
1909-10.
1908-09.
7,579,118
700
4.981,879
1,700
6,677,987
Exports (balcs)-
This Since
Week. Sept. 1.
This Since
Week.. Sept. 1.
This Since
Week, Sept. 1.
To Liverpool
To Manchester
To Continent
To America
1,500 215,352
219,058
1,250 413,741
500 124,228
2,250 316,639
159,736
122,286
64,534
2,000 107,933
2,750 221,142
2,250 374,384
1,250 92,800
3,250 972,379
2,250 883,195
8,250 888,259
Receipts (cantars)This week
Since Sept. 1
Total exnorts
Note.-A cantar is 99 lbs.
Egyptian bales weigh about 750 lbs,
• INDIA COTTON MOVEMENT FROM ALL PORTS.
The receipts of cotton from Bombay and the shipments from
all India ports for the week and for the season from Sept. 1
for three years have been as follows:
1908-09.
August 24.
1910-11.
1909-10.
Receipts at-
Since
Week. Sept. 1.
Since
Week. Sept. 1.
Since
Week. Sept. 1.
8,000 3,171,000 2,000 2,102,000
6,000 2,489,000
Bombay
Since September 1.
For the Week.
Exports
from-
Great
Great Conti- Japan
Britain. nent. cfcChinal Total. Britain.
--
Bombay2,000
_
1910.11_.
2,000 13,000
2,00011,000
1909-10_ _
3,000 3,000
1908-09-Calcutta2,000
1910-11_ 1,000 1,000
2,000
2,000
1909-10_
5,000
5,000
1908-09_ Madras200 4,200
4,00
1910-11__
4,000
1909-10_ 1-,656 3,000
6,000
6,000
1908-09.._
All others1910-11_ 2,000 6,000 2,000 1R,82
__
1909-10_ _ 2,000 4,000
0
8:00
5,000 3,000
1908-09_ _
Total all1910-11._
1909-10_ _
1908-09_ _
3,000 13,000
3,000 20,000
16,000
543
THE CHRONICLE
AUG. 26 1.911.]
ContiJapan
nent. & China. Total.
57,000 913,000 616,000 1,586,000
95,000 086,000 947,0002,028,000
25,000 588,000 677,0001,290,000
4,000
4,165
6,000
43,000
52,000
52,000
19,000 66,000
47,000 103,965
31,000 89,000
15,000
4,497
6,000
34,000
41,000
55,000
3,500
21,000
15,000
Total bales.
NEW YORK-To Liverpool-Aug. 23-Baltic, 2,876 upland, 1,487
4,363
foreign
To Havre-Aug. 19-Niagara, 2,539___Aug. 23-La Bretagne,
2,795
211 upland, 45 foreign
25
To Marseilles-Aug. 18-Venezia, 25
4,849
4,849
Washington,
To Bremen-Aug. 18-George
150
To Antwerp-Aug. 18-Kroonland, 150
To Genoa-Aug. 23-Duca deg!! Abruzzi, 400___ Aug. 24800
Re d'Italia, 400
To Naples-Aug. 22-San Giovanni, ZOO__ _Aug. 23-Duca
400
degli Abruzzi, 200
100
To Leghorn-Aug. 19-Calabria, 100
7,181
GALVESTON-To Liverpool-Aug. 19-Wanderer, 7,181
10,533
To Havre-Aug. 23-Montauk, 10,533
800
To Hamburg Aug. 22 Regina, 800
2,396
To Bremen-Aug. 19-Armazan, 2,396
50
To Christiania-Aug. 19-Noruega, 50
9.450
To Barcelona-Aug. 19--Carolina, 9,450
100
To Trieste-Aug. 19-Carolina, 100
2,304
TEXAS CITY-To Bremen-Aug. 18-Ormazan, 2,304
127
NEW ORLEANS-To Antwerp-Aug.25-Virgil, 127
1.101
To Genoa-Aug. 19-Sicania, 1,101
50
To Naples-Aug. 19-Sicania, 50
2,471
SAVANNAH-To Bremen-Aug. 24-Mercian, 2.471
181
To Hamburg-Aug. 24-Mercian, 181
100
To Malmo-Aug. 24-Mercian, 100
SAN FRANCISCO-To Japan-Aug. 2-Manchuria, 100 _ ....Aug.
400
22-Mongolia,300
50,726
Total
74,000,1 303,000
39,490, 330,000
31,000 300,000
52,500
66,497
76,000
The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
36,000 413,000
39,000 408,490
88,000 419,000
Great French Ger- -0th Europe- Mex.
Japan. Total.
'
Britain. ports. many. North. South. &c.
Total bates.
13.482
150 1,300 ____
4,363 2,820 4,849
New York
50 9,550
30,510
7.181 10,533 3,196
Galveston
2,304
____
2,304
Texas City
1,278
--__
127 1,151
New Orleans__ _
2,752
2,652
100
Savannah
400
400
San Francisco
2,200 18,200 150,000 1,293,000 674,5002,117,500
2,000 25,000 143,952 1,409,000 1,054,000 2,606,952
6,000 22,000 68,000 995.000 811.000 1,874,000
According to the foregoing, Bombay appears to show a
400 50,726
427 12,001 ____
Total
11.544 13,353 13,001
decrease compared with last year in the week's receipts of
The exports to Japan since Sept.1 have been 140,242 bales
2,000 bales. Exports from all India ports record a loss of from Pacific ports and 9,283 bales from New York.
Cotton freights at New York the past week have been as
6,800 bales during the week and since Sept. 1 show a
follows,
quotations being in cents per 100 lbs.:
decrease of 489,452 bales.
Wed.
Fri.
Thurs.
Mon. Tues.
Sat.
DOMESTIC EXPORTS OF COTTON MANUFACTURES
-We give below a statement showing the exports of domestic
cotton manufactures for June am:11°r the twelve months ended
June 30 1911, and, for purposes of comparison, like figures
for the corresponding periods of the previous year are also
presented:
Liverpool --------158854
Manchester
lt
Havre _
25
15
Bremen
25
Hamburg
20
Antwerp
Ghent. via Antwerp
26
2734
Reval
2734
Gothenburg
30
Barcelona
Genoa..30
37
Trieste
45
Japan
158834
15
25
15
25
20
26
2734
2734
30
30
37
45
158834
15
25
15
25
20
26
2754
2734
30
30
37
45
158834
15
25
15
25
20
26
2734
2734
30
30
37
45
158834
15
25
15
25
20
26
2754
2734
30
30
37
45
158834
15
25
15
25
20
26
2734
2734
30
30
37
45
?uanaties of Manufactures of Cotton Month ending June 30. 12 Mos. ending June 30.
(Colored and Uncolored)
1909-10.
1910-11.
1910.
1911.
Exported to-
LIVERPOOL.-By cable from Liverpool we have the following statement of the week's sales, stocks, &c., at that port:
207,553 1,602,085 2,240,828
139,903
yards
United Kingdom
928,537 1,238,674 10,365,474 10,183,474
Canada
Central American States and British
3,841,165 2,186,445 37,248,759 24,093,184
Honduras
225,109 1,716,092 1,572,969
155,473
Mexico
564,102 19,151,546 12,875,834
2,128,624
Cuba
Other West Indies and Bermuda... 3,524,259 2,477,765 46,125,872 40,252,012
156,434 1,723,536 2,257,954
Brazil
73,998
491,111 12,231,262 9,678,721
Chili
666,847
Colombia
1,474,071 1,810,812 16,742,299 16,017,378
Other South America
1,371,822 1.301,988 16,507,932 15.827,341
239.250 18,646,859 9,094,520
Aden
795,750
Chinese Empire
14,000,083 10,515,200 80,739,542 95,041,155
British East Indies
51,000 9,297,286 9,991,924
997,800
British Oceania
885,279 10,039,473 7,296,494
1,091,304
Philippine Islands
2,282,179 4,472,863 45,813,890 37,729,953
181,798 3,808,402 3,392,108
Other Asia and Oceania
538,311
542,504 14,829,260 12,365.455
Other countries
2,437,462
---------------Total yards of above
36,447,588 27,547,887 346,500,169 309,911,304
Total values of above
$2,545,994 $1,870,591 $24,387,099 $19,971,491
$.0645
$.0704
$.0679
Value per yard
$.0698
Aug. 4.
bales_ 35,000
Sales of the week
Of which speculators took__ 1,000
Of which exporters took_ ___ 3,000
27,000
Sales, American
6,000
Actual export
49,000
Forwarded
520,000
Total stock.-Estimated
355,000
Of which American
Total imports of the week.... 12,000
2,000
Of which American
39,000
Amount afloat
4,000
Of which American
Value of Other Manu actures of
Cotton Exported.
Clothing and other wearing apparel:
Knit goods
All other
Total
Waste, cotton
Yarn
All other
Total manufactures'of
Aug. 11.
26,000
1,000
1.000
21,000
6,000
36,000
501,000
329,000
22,000
6,000
48,000
5,000
Aug. 18.
10,000
Aug. 25.
22,000
1.000
6,000
5,000
1,000
513,000
329,000
18,000
3,000
40,000
8,000
14,000
2,000
8,000
513,000
325,000
10,000
2,000
' 46,000
18,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
Saturday.
Market, 1
12:15 } Nothing
doing.
P. M. 1
Mid. Up1'.:
6.75
136,201 1,646,219 1,175,147
210,967
371,840 5,538,303 4,549,921 Sales
501,844
--------------Spee.drexp.
508,041 7,184,522 5.725.068
712,811
Futures. Steady at
3,502,982
3,129,034 Market 1 405 pta.
313,081
313,612
463,404 opened f advance,
606,557
47,685
45,201
392,501 5,170,758 4,180,100
477,132
---------------- Market, 1 Steady at
4,091,750 3,131,899 40,851,918 33,397,097
4
73 08 pts.
Monday.
Dull.
Tuesday. Wednesday. Tdursday.
Dull.
Quiet.
Move
slowly.
Friday.
Quiet.
6.81
6.80
6.76
6.81
6.88
3,000
300
4,000
300
5,000
200
4,000
200
5,000
500
Steady at
1 point
decline.
Steady at
1 point
advance.
Quiet at
304 pts.
decline.
Quiet,
Quiet,
partial
unch. to
1 pt. adv. 1 pt. dec.
Steady at Steady at Very sty. Steady at Steady at
pts. at 105% %pt.dec.to 407 pts.
0%5
% % 37
d
The prices for futures at Liverpool for each day are Oven
MANCHESTER MARKET.-Our report received by cable below. Prices are on the basis of upland, good ordinary
to-night from Manchester states that the market is firm for clause, unless otherwise stated.
The prices are given in pence and 100ths. Thus, 6 45 means 6 45-100d.
both yarns and shirtings. The demand for both India and
China is improving. We give the prices for to-day below Aug. 19
Fri.
Thurs.
Wed.
Mon.
Tues.
Sat.
to
and leave those for previous weeks of this and last year for Aug.
25. 12 % 1234 1231 4 12 31 4 1254 4 12% 4 1254 4
p.m.
P.In• p.m.
P.m. P.m • p.m. p.m. p.m. p.m. 13.m•
comparison.
_
48 4334 44 49 49 49 56 56
__
1911.
d.
July
7 Iou
14 1034
21 lox
28 954 0
Aug.
4 9 5-160
11 994
18 OM
25 954 0
834 lbs. Shirt- Cot'n
ings. common Mid.
Upl's
to finest.
d. s. d.
32s Cop
Twist.
s. d. d. d.
7.87 lOyi
1114 6 054011 3
11546 0 011 134 7.781054
011 0
7.39 1054
1054 5 119 010
8 6.90 1054
114 5
10% 5
10% 5
10% 5
10% 5
7%®10 6
8..10754
7%010 7%
8 @108
6.95 10%
6.77 10%
6.69 10%
6.88 10%
83.1 lbs. Shirt- Cot'n
ings, common Mid.
to finest.
d. s. d.
@Ic:ii OSD
32s Cop
Twist.
1910.
s. d. d.
11 5
11 5
11% 5
11% 5
5 (i('104
5 @10414
5%010 6
6 @107
7.92
7.94
7.97
8.16
11% 5
11% 5
11% 5
11% 5
6 @107
6 010 7%
"@10
tr,
6%010 8
8.07
8.31
8.28
8.14
August
Aug.-Sep.
Sep -Oct _
Oct.-Nov_
Nov:Dec.
Dec.-Jan _
Jan.-Feb _
Feb.-Mch.
Mch.-Apr.
• Apr.-May.
May-June
6 45% 48% 51
636 38% 40 37 3234 31
3434 34% 35 41
4054
6 15% 17 16 16 1054 09 1134 12 12 17 1654
610 11% 10% 11 06 04% 07% 0734 0734 12 1154
6 05 06% 06 06% 02 00% 04 04 04 0834 0854
6 04% 06 05% 0634 02 00% 04 04 04 08 08
605 06% 06 07 0254 01 0434 0434 0434 0834 0834
6 06% 07% 07 08 04 02 08 06 06 10 10
6 0734 09 084 0934 0534 03% 07% 0714 0734 1134 1134
6 08% 10 09% 1034 0654 04% 08% 08% 0834 1234 1234
_ 610 11% 11
12 07;4 06 10
1314 133.4
BREADSTUFFS.
Friday Night, August 25 1911.
Flour has been rather quiet, as buyers in many instances
have held that lower prices may be looked for in view of an
SHIPPING NEWS.-As shown on a previous page, the expected large Canadian wheat crop, big stocks in this
and possible bearish developments as regards reciexports of cotton from the United States the past week have country
procity. Old wheat flour is, however, held firmly, and at
reached 50,726 bales. 'the shipments in detail, as made Kansas City the demand for flour has latterly increased.
.asifollows:
There has been, in fact a better demand from domestic
up from mail and telegraphic returns, are
544
THE CHRONICLE
sources than from abroad, although some 5,000 bbls. were
sold for export to Holland and the expected shortage in
German feeding crops has recently brought export inquiries
from the latter-named country. Bran and heavy feed have
been firm as to prices. The output of flour for the week at
Minneapolis, Duluth and Milwaukee was 354,240 bbls.,
against 337,865 the week before and 382,550 last year.
It is generally believed that the trunk railway lines will grant
the concessions asked by mills-that is, of transportation
rates lower by the part water than by the all-rail routes from
Minneapolis to Buffalo.
Wheat has been steady and in the main higher on continued export demand, exporters having purchased 1,000,000
bushels during the week, and on unfavorable crop accounts
from Russia, the American Northwest and Canada. In the
latter two producing regions some frost damage has occurred,
although it is true that the temperatures have latterly risen.
Also the Northwest has sent complaints of rust damage and
of small and poor yields in some instances, while in Canada
damage by rust and hailstorms has also been reported. As
already stated, Russian crop accounts have been quite unfavorable and, significantly enough, on Monday last there
were sold in Duluth 200,000 bushels of durum wheat for
direct export to St. Petersburg. Southwestern cash markets,
particularly Kansas City, have shown strength as to prices.
On the other hand, prices of futures have at times declined
under liquidation based on expectations of a large crop in
Canada, claims being made that reports of damage to the
Canadian crop had been exaggerated, reports of crops larger
than last year in France and Hungary, an expected increase
in the American winter-wheat acreage, beneficial rains in
Argentina and India, favorable crop and weather advices
from the United Kingdom, and an estimate that the world's
total wheat crop this year would be only 16,000,000 bushels
under the total crop of a year ago. These arguments, when
coupled with the large stocks at many of the primary points,
have given courage to the bears. Also,the world's shipments
were large, being 10,800,000 bushels, against 9,008,000 the
previous week, but comparing, it is true, with 12,889,000 last
year. The world's visible supply showed a moderate gainthat is, 2,814,000 bushels, and the world's wheat stocks were
placed at 133,375,000 bushels, against 63,228,000 bushels a
year ago. To-day prices rose slightly on predictions of frost
in Canada and continued unfavorable Russian crop accounts.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Man. Tues. Wed. Thurs. Fri.
No. 2 red
9531 97
965% 963% 063% 96',l
September delivery in elevator_ _ _ _ 965% 97% 96% 97
96% 96%
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
September delivery in elevator_ ___ 905% 91
905% 90% 90
90%
December delivery in elevator_ ___ 95
95% 94 % 94% 94 % 94 %
May delivery in elevator
100% 1015% 1005% 100%
3 100'4 1005%
[VoL.
The statements 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 has been: • •
Corn.
Flour.
Wheat. I
I
Oats.
Barley.
Rye.
---bbls.196lbs. bush. 6015s. bush. 56 lbs. bush. 32 lbg. bus1m.48lbs. bu.56 /bs.
112,306 L566,000 1,280,100 2,845,700
Chicago _ _ _ _
241,500
28,000
501,720
Milwaukee_ _
76,600
134,440
146,200
136,574
3,025'
Duluth
7,965
26,086
7,55
1,298,160
Minneapolis_
88,710
157,550
155,800
72,220
238,000
56,100
273,000
Toledo
1,000
10,050
132,927
Detroit
55,693
126,295
485
Cleveland _ _
9,620
71,600
39,410
1,110
St. Louis__ 51,570
347,700
555,600
304,300
980
14,300
21,210
Peoria
31,000
375,921
108,600
10,800
6,600
Kansas City.
771,600
369,600
147,500
----275,246: 5,033,301 2,987,764 4,156,520
Total wk.'11
436,276 129,677
Same wk.'10
363,809, 8,619,137 2,179,481 12,061,485
581,637 114,894
Same wk.'00
428,213: 5,417,484 2,987,309 6,037,032
366,832
95,053
----Since Aug. 1
1911
933,388 18,628,797 7,188,966 15,139,038 1,103,578 392,960
1910
1,048,471 28,590,488 8,010,194 26,528,077 1,561,746 254,983
1909
1,208,078 18,387,193 8,961,795 14,724,602
970,323 272,562
Receipts at-
Total receipts of flour and grain at the seaboard ports for
the week ended Aug. 19 1911 follow:
Flour,
Corn,
Wheat,
Oats, Barley,
Rye;
Receipts atMs.
bush.
bush,
bush.
bush.
bush.
New York
149,986
894,700
217,375
927,600
1,150
Boston
33,710
186,656
4,000
111,728
1,501
Philadelphia
56,288
394,578
22,853
255,541
800
Baltimore
53,683
54,084
381,196
236,508
1,180
p....
New, Orleans
31,975
69,400
60,000
46,500
Newport News_
9,107
Norfolk
1,500
Galveston
2,000
19,000
Mobile
14,000
3,000
Montreal
89,523
34,306
531,875
350,620
18,249
---- ---- ---- ---- •--Total week 1911_
472,834 1,928,497
373,956 2,468,005
4,631
18,249
SinceJan. 11911_11,510,961 48,783,559 49,973,039 35,574,556 2749,485 376,415
Week 1910
328,123 1,064,061
389,722 1,631,430
1,000
25,729
Since Jan. 11910_10,753,635 41,860,497 26,622,473 29,932,574 2045,284 474,493
A 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. 19 1911 are shown in the annexed statement:
ExportsfromNew York
Boston
Philadelphia ....__
Baltimore
New Orleans -___
Newport News_
Mobile
Montreal
Norfolk
Wheal,
bush.
873,347
531,376
222,000
486,000
48,000
486,000
Corn, Flour,
bush. bbls.
42,508 88,171
10,965
14,000
7,430
21,428
16,500 16,286
9,107
14,000 3,000
214,000 22,000
1,500
------308.436 172,459
44,977 118,781
Oats,
bush.
12,646
Rye, Barley,
bush,
bush.
•
600
Peas
bush
2,781
100
Indian corn has declined under liquidation based on more
---13,146
favorable crop accounts from Nebraska, and several other
Total Week..__2,446,723
2,881
103,327
1,021,414
1,034
States, and good rains at the West. Yet for a time the Week 1910
weather in the Southwest was extremely hot, dry and unfaThe destination of these exports for the week and since
vorable. There have also been complaints of cobs filling July 1 1911 is as below:
poorly in much of the corn-producing region. Then, too,
--Flour-------Corn---Argentina has no corn for export and Hungary has sent bad
Since
Since
Since
Week
Ady 1
crop reports. while the South latterly has bought more
July 1
Week
Week
July 1
1911. Aug. 19.
1911. Aug. 19.
for week and .4ug.19.
1911.
freely in Kansas City and considerable export business has Exports
bush.
bush.
bbls.
bush.
Since July 1 tobbls.
bush.
been consummated. The world's exports, moreover, fell United Kingdom... 86,093 555,928 1,418,673 5,722,566 235,428 1,800,346
1,014,050
5,238,132
239,581
20,428
1,201,494
Continent
off sharply, and the American visible supply decreased Sou.
14,000
100,507
17,496
dr Cent. Amer_ 23,168 121,296
178,471
698,000 bushels, against 862,000 the previous week. To- West Indies
4,719
53,707
42,345 153,808
305,652
3,812
357
1,614
day there were insignificant fluctuations and little decided Brit. Nor. Am.Cols_ 290 30,715
1,448
Other Countries_ __ _
135
4,710
net change, although May rose fractionally.
DAILY CLOSING PRICES OF NO." MIXED CORN IN NEW YORK.
Sat
"
. Mon. Tues. Wed. Thurs. Fri.
Cash cOrn
72
713% 71 3% 71 % 715% 72
September delivery in elevator_
nom. nom. nom. nom. nom. nom.
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
September delivery in elevator_ _ _ _ 64 % 64 % 63% 63% 61 % 645%
December delivery in elevator_
62
61 % 61 % 61 % 61 % 61 %
May delivery in elevator
64 % 64 % 63% 64
04% 64 %
Total
Total 1910
172,459 1,105,140 2,446,723 11,065,924
118,781 751,694 1,021,414 4,529,080
308,436 3,492,287
44,977 1,563,467
The world's shipments of wheat and corn for the week
ending Aug. 19 1911 and since July 1 1911 and 1910 are shown
in the following:
Corn.
Wheat.
Oats have been steady and somewhat higher on covering
of short contracts on claims of poor threshing returns and of
' 1910.
1911.
1910.
xports.
1911.
extensive abandonment of acreage in this country, together
, Since
I Week
Since
Since
Week
Since
with reports of heavy damage to foreign feed crops by drought,
Aug. 19.
July 1.
July 1.
Aug. 19.
July 1. f. July 1.
--------heat and other causes. However, there has been consider- - -----Bushels. I Bushels. Bushels.
Bushels.
Bushels. Bushels.
able long liquidation at the West and the visible supply in- North Amer.3,568,000 19,048,000 8,215,000 309,000 2,942,000 1,930,000
creased 3,675,000 bush. Price changes to-day were unim- Russia
2,320,000 17,824,000 21,848,000 425,000 11,289,000 '1,451,000
Danube. - 2,440,000 6,760,000 9,272,000 1,258,000 15,020,000 6,453,000
portant, being %c. higher to %c. lower.
20,691,000
656,000 9,280,000 7,344,000
Argentina
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sal. Mon. Tues. Wed. Thurs. Fri.
45
455% 455% 455%
44
Standards
44
46
46
No. 2 white
445% 445% 453', 46
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
September delivery in elevator_ ___ 42% 42% 42
42
42% 42 34
December delivery in elevator_ _ _ _ 44 % 44 V, 445% 44% 44% 44 %
May delivery in elevator
475% 47% 47 % 4'7 % 47% 47%
Australia _India
0th. countr's
Total
976,000 6,752,000 3,320,000
552,000 10,61,000 10,024,000
544,000
288,000 1,318,000
-10800000 71,600,000 60,567,000 1,992,000 29,251,000 30,525,000
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
The following are closing quotations:
FLOUR.
Winter, low grades_ _$3 00®$3 25 Kansas straights, sack_34 35 $4 50
Winter patents
68
15
0@ 4
4 60@ 4 75 Kansas clears, sacks_ 3
65
10
5
Winter straights
4 00
4 30 City patents...
Winter clears
3
40
50
5g 4
3 65
3 85 Rye flour
5 00
Spring patents
5 25
5 50 Graham flour
Spring straights
4 80
3 70@ 3 80
5 00 Corn meal, kiln dried
Spring clears
4 25
4 50
GRAIN.
Wheat, per bushel-f.o.b.
Cents.
Cora, per bushelN. Spring, No. 1
f.o.b.
$1 13
72
No 2
N. Spring, No. 2
1 113,5
elevator
Steamer
Nominal
Red winter, No. 2
elevator
No 3
94
Nominal
Hard winter, No. 2
98
Rye, per bushelOats, per bushel, newCents.
No. 2 Western
Nominal
Standards
45 %
N
State and Pennsylvania
Nominal
No. 2 white
46
Barley-Malting
No. 3 white
45
Theat.
Corn.
United I
Kingdom. Continent. Total.
Total.
-------'---Bushels. Bushels. Bushels. Bushels.
Bushels. Bushels.
Aug. 19 1911._ 21,184,000 16,032,000 37,216,000 4,938,000 5,933,000 10,871,000
Aug. 12 1911__ 22,504,000 13,272,000 35,776,000 4,598.000 5,721,000 10,319,000
Aug. 20 1910._ 19,920,000 14,520,001133,440,000 9,945,000 10,710,000 20,655,000
Aug. 21 1909_ _ 18,320,000 10,960,000 29,580,000 6,715,000 10,285,000 17,000,000
Aug. 22 1908._ 16,320,000 10,960,000 27,280,000 5,950.000 4,760,000 10,710,000
Aug. 24 1907_,_17,480,000 9,160,000 26,640,000 7,240,000 6,080,000 13.320.000
United
Kingdom. Continent.
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports Aug. 19 1911, was as follows:
-1911
Since
Week. Jen. 1.
10
508
31
673
3,040
71,073
23
17,899
1,483
14,007
300
9,572
666
25,401
15
1,436
445
12,920
891
38,749
1,158
24,689
New York to Auaust 19Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
Other countries
•
8,071
Total
217,507
1910
Since
Jan, 1.
1,333
639
49,461
8,488
7,040
4,145
-57018,434
635
1,291
25
7,055
28
31,274
261
1,885
30,628
Week.
19
3
_ __ _
____
1,432
160,388
The value of these New York exports since Jan. 1 has been
$15,439,755 in 1911, against $11,136,310 in 1910.
Bleached goods moved steadily and in fairly satisfactory
volume, most of the orders again being for immediate or
near-by requirements. Heavy brown sheetings were in
better request, more inquiries coming from jobbers for deliveries through the balance of this year, but at bids which
mills were unwilling to accept; prices were irregular for
near-by shipment, some sellers taking orders at prices that
discount still lower staple, while others continued firm. An
increased demand developed for colored napped cottons, in
the way of duplicate orders, and additional quantities of
prints were called for by jobbers. Wash goods, denims,
drills and tickings were moderately active, and duplicate
orders on flanelettes and ginghams were received. Export
trade continued quiet. Print cloths and convertibles, particularly wide goods, were much more active, comparatively
large sales being reported; prices ruled steadier but quotably
unchanged.
FOREIGN DRY GOODS.-Housekeeping linens for fall
were fairly active; demand for spring dress linens fell off
somewhat, buyers showing conservatism, owing to highprice levels. Imported woolens and worsteds moved a little
more freely, trade being helped by the removal of tariff
uncertainty. Burlaps were quiet and unchanged.
Importations and Warehouse Withdrawals of Dry Goods.
14
'
14
14
3 gThirhog
,C9.0
P. .3
2,13',.;gdo
,
.91
8 e.
6.2,7
aF-= 8:5 5-74
a
0%
8
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a
8g
94.
85
te
14 cm
0 es
CO Ca
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4, C4 CD a)c,
4, 4, N 0 cm
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er
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14.
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03 .4.
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t/AVICC'et,
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111.9.139c
917Vc.TC1'82
slaodcai reloi,
New York, Friday Night, Aug. 25 1911.
Textile trade showed further improvement in a number of
directions this week, and, what is especially noteworthy, in
view of the prolonged depression, a better tone and increased
demand developed in certain quarters of the primary cotton
goods market, particularly in the gray oods division. .The
adjournment of Congress and the cessation-for the present,
at least-of tariff agitation were most welcome to the trade
generally and encouraged a belief that orders which have
been held back through fear of tariff legislation will now be
placed, and to some extent this opinion has been confirmed
by the course of business in the past few days. It is realized,
however, that tariff discussion and revision have merely
been postponed a few months, and this consideration serves
to make buyers cautious in operating very far ahead.
Another factor making for conservatism, so far as the distant
future is concerned, is the threatened railroad labor trouble
and the retrenchment by leading railroad systems, which is
apt to curtail purchasing power, more or less, throughout
the country. For these reasons, largely, no material expansion in business in the way of covering possible requirements
several months hence has taken place, and no substantial increase in demand of this character is expected unless the
outlook for future trade becomes brighter. In the cotton
goods market, in addition to the factors mentioned, uncertainty regarding the size of the cotton crop and the future
.11
course of prices for the staple has served to restrict demand
for distant deliveries. For shipment during the next month
.3
or two, and in some lines for delivery during the balance of
CON
the year, trading showed a substantial increase in volume.
mm 0+
1717-, 44
0 CA CA t4 OD
0> .4W ,
As indicated, the betterment was noticeable, particularly in 03
W. • .0 OD cm Ca
wide gray goods of print-cloth yarn construction, compara- N N
tively large quantities of these goods having been taken in 10'
Cat;'
N ON
the past day or two by printers and converters. Some lines 00
Cate
were
also
fabrics,
14 1410
of domestic cottons, especially the heavier
Cm 4,
CD
exThe
4
1
,
40
00
delivery.
in better request for prompt and near-by
tensive and increasing curtailment of production, the growing Ca .0
W.
0
WW0WW
scarcity of many kinds of merchandise, and the persistent Ca OW W.
Ca
refusal of leading mills and agents to accept low bids have co
000 .4 N to 0.1
too OD CO CA C4 OD
apparently convinced many buyers of the futility of further
efforts to secure concessions. Cotton yarns continued quiet;
0.1
certain numbers of stock yarns ruled,firmer under increasing
4 .1
,
scarcity, but for late deliveries pri es remained easy, the
tO te
CO *CA
'
majority being quoted on the basis of 10-cent cotton. Wor.4.4
having
Gm
spinners
sted yarns, though dull, were steadier, some
declined low offers. Woolen and worsted fabrics, both
men's wear and dress goods, were more active, reflecting in .1 .10
0 OD X, 4,.1 Co
1.1.
0+
oo C4 to ta Co .4
a measure removal of the danger of tariff revision in the CO •ea .4.
Ca CO NA
was
goods
dress
in
staple worsted
immediate future; trade
Ce
stimulated by the naming of low prices for spring.
C4• 4
N to
WOOLEN QOODS.-The most interesting development in en W
CO
of
staple
opening
the
market
was
CaA
the primary dress goods
Ca ON
goods
many
On
leading
OW
producers.
A
,
worsteds for spring by
prices remained unchanged from the fall basis, but some lines
UN
00
serges
best-known
few
the
of
a
were revised downward,
.40
prices,
Current
a
yard.
cents
0
.
42
2%
.
having been reduced
WW
000
which are said to be the lowest in many years, are expected
to prove attractive to buyers. Competition for business is
.10
W.
keen and mills have apparently named very close figures to
14 1,
plants
their
of
WW
portion
a
at
least
secure enough orders to keep
W
'
10
runnin5. On fancy worsteds and woolens opened recently
1 CO
.
AN
for spring delivery agents have booked a fairly satisfactory
PaP31
THE DRY GOODS TRADE.
amount of business. Jobbers and cutters have been calling
for fall dress goods, but stocks available for prompt shipment
are limited and some mills are unable to meet buyers' requests for quick deliveries. Duplicate orders for coatings,
principally for the cheaper fabrics, were received, but the
largest producers are said to have declined additional business, owing to their sold-up condition. In men's wear
trade was rather quiet, as the bulk of the business on spring
lines has been placed. Results indicate an uneven distribution; some large producers have done well, but comparatively few are actually sold up, and it is reliably estimated
that only about 60% of men's wear machinery is at present
under engagement. Heavy-weight woolen suitings continued in
request, with supplies available for prompt shipment limited.
DOMESTIC COTTON GOODS.-The exports of cotton
goods from this port for the week ending Aug. 19 were 8,071
packages, valued at $787,945, their destination being to the
points specified in the table below:
tOL'OZVf19
AMERICAN GRAIN STOCKS.
Barley,
Rye,
Oats,
Corn,
Wheat,
bush.
bush.
bush.
bush,
bush.
7,000
819,000
203,000
1,351,000
York
New
3,000
16,000
170,000
Boston
138,000
1,000
574,000
Philadelphia
1,000
3,000
107,000 . 503,000
1,890,000
Baltimore
121,000
108,000
138,000
New Orleans
7,000
141,000
Galveston
449,000
1,372,000
171,000
3,153,000
Buffalo
1,000
600,000
41,000
2,102,000
Toledo
6,000
217,000
218,000
185,000
Detroit
29,000
4,000
7,422,000
1,508,000
19,312,000
Chicago
1,031,000
afloat
'
58,000
25,000
261,000
33,000
159,000
Milwaukee
42,000
4,000
476,000
192,000
Duluth
69,000
28,000
459,000
9,000
4,424,000
Minneapolis
35,000
4,000
737,000
259,000
4,648,000
St. Louis
228,000
774,000
5,206,000
Kansas City
1,000
1,740,000
43,000
13,000
Peoria
168,000
104,000
833,000
Indianapolis
3,000
652,000
705,000
440,000
Omaha
20,000
50,000
460,000
1,265,000
On Lakes
194,000
26,000
446,000
On Canal and River__ _
_-__ ---- ---- ----693,000
96,000
17,196,000
Total Aug.'19 1911_47,642,000 4,793,000
647,000
66,000
15,423,000
Total Aug. 12 1911__48,171,000 5,640,000
705,000
236,000
8,025,000
Total Aug. 20 1910..22,362,000 2,670,000
108,000
173,000
3,413,000
2,243,000
8,584,000
_
Total Aug. 21 1909_
CANADIAN GRAIN STOCKS.
Barley,
Rye,
Oats,
Corn,
Wheat,
bush.
bush.
bush.
bush.
bush,
18,000
548,000
394,000
814,000
Montreal
717,000
1,617,000
Fort William
945,000
781,000
Port Arthur
2,860,000
869,000
Other Canadian
------- ---- ---18,000
5,071,000
394.000
Total Aug. 19 1911_ _ 4,081,000
13,000
4,478,000
46,000
5,202,000
1911._
12
Total Aug.
82,000
498,000
86,000
Total Aug. 20 1910_ 2,711,000
84,000
514,000
76,000
823,000
Total Aug. 21 1909.._
SUMMARY.
Barley,
Rye,
Oats,
Corn,
Wheat,
bush.
bush.
bush,
bush,
bush.
693,000
96,000
4,793,000 17,196,000
47,642,000
American
18,000
394,000
5,071,000
4,081,000
Canadian
---- ---- ---- ---- ---711,000
06,000
5,187,000 22,267,000
Total Aug. 19 1911..51,723,000
660,000
66,000
5,686,000 19,901,000
Total Aug. 12 1911_ _53,373,000
787,000
236,000
2,759,000 8,523,000
Total Aug. 20 1910_ _25,073,000
192,000
173,000
2,319,000 3,927,000
Total Aug. 211009.. 9,407,000
545
THE CHRONICLE
6ZS'6C6'L6
Atm. 20 1911.]
03
546
STATt MID
THE CHRONICLE
[Vol, Lxxxxm.
Bond Proposals and Negotiations this week
CITY DEPAVTIVIEVI, have
been as follows:
ABILENE, Taylor County, Tex.-Bonds Voted.-Thls city on Aug.
voted, it is stated, to issue $20,000 water bonds. The vote is given 17
as
278 to 78.
Atlanta, Ga.-Election on Commission Government Charter.
ADAIR COUNTY DRAINAGE DISTRICT (P. 0. Kirksville), Mo.-The bill providing a new charter for this city recently Bond Sale.-It is reported that an issue of $27,500 6% bonds has
been sold
passed by the Legislature was signed by the Governor on at par. Denom. $1,000. Int. annual.
LEA, Freeborn County, Minn.-Bond Offering.-Proposals will
Aug. 22 and will be voted upon by the people of Atlanta on beALBERT
received until 5 p. m. Sept. 4 by the City Council at the office of C. J.
Sept. 27. See V. 93, p. 119. The Atlanta "Constitution" Dudley,
City Clerk, for the following bonds authorized at an election
held Nov. 8 1910:
of Aug. 17 says:
$18,000 (city's portion) improvement bonds. Vote 913 to 01.
It amends the existing charter of Atlanta so as to abolish all city boards
20,000 bonds, of which $15,500 will be used to fund outstanding water
except the Board of Education, and to reduce council membership to ten
warrants and $4,500 to extend the water mains. Vote 889 to 87.
Aldermen, who will be elected by the city-at-large from their respective
Due Jan. 1 1925. Date Oct. 1 1911. Int. (rate not to exceed 5%) paywards. The bill also provides for five commissioners, who shall be elected able J. & J. at the City Treas. office
or such other place within the State of
by the people and who shall give their whole time to the city's business.
Minnesota or New York City, or Chicago, as the purchaser may designate.
check for at least 4% of bid, payable to the City Treas., is required.
Arizona-New Mexico.-Compromise Statehood Bill Signed Cert.
Official circular states that the principal and interest of all previous Issues
by President.-President Taft on Aug. 21 signed the new have always been promptly
paid at maturity and that no bonds have ever
been contested; also that no controversy or litigation of any kind is now
joint resolution passed by Congress admitting these terri- pending
or threatened affecting the corporate boundaries of the municitories into the -Union. The first resolution was, as pre- pality or the titles of its present officials to their respective offices or the
viously stated, vetoed by the President on Aug. 15 for the validity of these bonds.
ALLIANCE, Stark County, Ohio.-Bond Sale.-On Aug. 17 the $8,300
reason that the Arizona Constitution contained a provision 4;4%
10-yr. coup. street-impt. bonds were awarded, it is stated, to Well.
permitting the recall of the judiciary. The second resolu- Roth & Co., Cincinnati,
for $8,469, or 102.036-a basis of about 4 yi%.
tion, which the President signed, as noted above, was passed
AMELIA SCHOOL DISTRICT (P. 0. Amelia), Jefferson County, Tex.
Bonds
Voted.
-A
favorable
by the Senate on Aug. 18 and the House on Aug. 19, and question of issuing $8,000 vote was cast on Aug. 12, it is stated, on the
school-building bonds.
provides that the voters of Arizona must except judicial
ARDMORE,Carter County, Okla.-Bonds Authorized.-A resolution was
officers from the recall provision of their Constitution be- passed by the Bd. of City Commissioners on Aug. 16, It is
stated, providing
for
the issuance of $50,000 water bonds.
fore Statehood is granted. New Mexico is to vote on several
ARKANSAS CITY, Cowley County, Kan.-Bond Election.-On Sept. 19
amendments suggested by Congress, but these are not an election will be held, it is stated, to vote on the question of
issuing $60,000
mandatory, and that Territory will be admitted as a State water and $25,000 park bonds.
ASOTIN, Asotin County, Wash.-Bond Election.-The election to vote
no matter how the voters pass on the amendments. See
on the question of issuing $35,000 6% 20-yr. water-works bonds will be
V. 93, p. 482.
held on Aug. 29. Int. semi-ann.
Georgia.-Legislature Adjourns.-The Legislature of this
ATTALIA SCHOOL DISTRICT (P. 0. Attalla), Walla Walla County.
Wash.
-Description of Bonds.-The $5,500 5% bldg. bonds
to the
State adjourned on Aug. 17.
State of Washington at par on July 1 (V. 93, p. 423) are in awarded
the denom. of
*500
each.
Int. semi-nun. Due 20 yrs., opt. after 10 yrs.
Glen Ridge, N. j.-Council Votes to Buy Water Plant.BARAGA SCHOOL DISTRICT (P.O. Baraga), I3araga County, Mich.
On Aug. 18 the Council authorized the signing of an agree- Bond
Election.-On Aug. 31 an election will be held to vote on the issuance
ment to purchase the water plant situated in this borough of. $6,000 5% building bonds.
and owned by the Orange Water Co. Newark papers state
BAY CITY, Bay County, Mich.-Bond Sale.-This city recently awarded
$25,000 local-Impt. bonds as follows: $15,000 due in 3 yrs. to the Commerthat the price stipulated is $40,000, exclusive of the cost of cial
Bank in Bay City and
in 5 yrs. and $3,000 in 8 yrs. to the R.P
mains laid since June 1911. It is expected that a vote will C. Benevolent Ass'n of Bay$7,000
City.
be taken the latter part of next month on the issuance of
BEDFORD. Cuyahoga County, Ohio.-Bond Sale.-On Aug. 21 the
4 % impt. bonds (V. 93, p. 302) were awarded as follows:
$50,000 bonds for the purchase.
$35,000 water-supply bonds to Otis & Hough of Cleveland at 104.653.
Due $1,000 Aug. 1 1923 and $2,000 yearly Aug. 1 1924 to 1940 incl.
Hartsells, Morgan County, Ala.-Commission Plan of
8,000 sewerage-disposal-works bonds to Otis & Hough of Cleveland at
Government Approved.-A proposition to adopt the com.103.65. Due $1,000 Aug. 1 1918, 1919 and 1920, $2,000 Aug. 1
1921 and 1922 and $1,000 Aug. 1 1923.
mission plan of government carried, reports state, by a vote
3,000 water-main and sewer (village's portion) bonds to Cleveland Trust
of 107 to 101 at an election held Aug. 16.
Co. at 101.183. Due $1,000 Aug. 1 1915, 1916 and 1917.
Hawaii.-Bonds Offered by Bankers.-Gavin L. Payne
BELLE PLAINE, Benton
Iowa.-No Action Yet Taken.-We
are advised by the City Clerk County,
on date of Aug. 19, that the City Council has
& Co., the Fletcher American National Bank and Has- not taken any action
looking toward the issuance of the $15,000 sewer bonds
voted July 10 (V. 93, p. 181).
sensall & Co., all of Indianapolis, are offering to investors
BELLEVUE, SarpY County, Neb -Bonds Voted.-The election held
$1,325,000 of the $1,500,000 4% 20-30-year (opt.) gold Aug. 16 resulted in favor of the question of issuing $20,000 5% 5-20-yr.
(opt.) water-works bonds, according to reports.
public improvement bonds sold recently by the Territory
BELLEVUE. Huron County, Ohio.-Bond Sale.-On Aug. 18 the two isof 5% coup. impt. bonds (V. 93, p. 302) were awarded to the Wright
of Hawaii. See advertisement on a preceding page; also sues
Banking Co. as follows:
$10,000
1234-yr. (ay.) bonds at 107.12-a basis of about 4.25%.
302.
p.
V. 93,
2,000 8 Yi-yr. (ay.) bonds at 105.15-a basis of about 4.25%.
Port of Seattle, King County, Wash.-Election on Creation
BELTON, Cass County. Mo.-Band Offering.-Proposals will be received
of Port District.-An election will be held in King County on at any time by W. P. Houston, Mayor, for the $10,000 5% street-impt.
bonds voted recently (V. 93, p. 119). Denom. $500. Date July 1 1911
Sept. 5 to vote on creating a port district to be known as the Int.
J. & J. Due $5,000 in 5 yrs. and $1,000 yrly. from 6 to 10 yrs. incl.
Port of Seattle," co-extensive with the limits of the county. Bonded debt, incl. this issue, $11,500. Assessed val. for 1010, $348,000.
Essex County, Mass.-Bond Offering.-Proposals will be
At the same eection three Port Commissioners will be creocuBEVERLY.
ep
irsew
duen
rtlio
la12
n m. Aug. 29 by C. F. Lee, City Treas., for $23,000 4%
chosen.
No. 2, 1911, bonds. Denom. $1,000. Date July 1 1911.
Int. J. & J. at the Old Colony Trust Co. of Boston. Due $3,000 July 1 1912
Seattle, Wash.-Recall Petitions Filed.-On Aug. 17 the and
$2,000 yrly. July 1 from 1913 to 1922 incl. These bonds will be certiCitizens' Recall Association filed 1,800 petitions asking the fied as to their genuineness by the Old Colony Trust Co. of Boston, which
will further certify that in the opinion of Ropes, Gray & Gorham these issues
recall of Mayor Dilling and Councilmen Blaine, Wardall and are
valid obligations
the City of Beverly. A like issue of bonds was
Kellogg. The petitions for the recall of the Councilmen were awarded on Aug. 8 to of
tioV
n 9
leece
V.
P3r,po.34e2dPapers3.-.
or
Blodget de Co. of .B on ES
not accepted by the city, however, the Corporation Counsel
BEVERLY, Burlington County N. -Bond
state that the Council has asked the County Board of Elections to designate
having ruled that they lacked the necessary number of names a date for an election to vote bonds to sewer Beverly at an appropriate
cost
to make them effective. The petition against the Mayor has of $40,000. The proposition was lost two years ago.
BILOXI, Harrison County, Miss.-Bond Offering.-Proposals will be
a sufficient number of signatures, but it has not yet been
received until 7:30 p. m. Sept. 15 by W. G. Henderson, City Clerk, for the
determined whether they are all those of registered voters, $70,000
5% water-works bonds voted June 27 (V. 93, p. 64). Denom.
and it is thought likely that a large number of names will be $1,000. Date as holder may desire. Int. ann. on such dates
as holder
may desire and payable at any bank designated by purchaser. Cert. check
eliminated when the checking takes place. Mayor Dilling for
1% of bid, payable to the City Clerk, required.
succeeded Mayor Hiram C. Gill, who was recalled by the
BIRMINGHAM, Ala.-Bond OfferingPostponed.-The sale of $1,300,000
voters last February. See V. 92, p. 406.
5% 30-year revenue-deficiency bonds which was to have taken place Aug. 22
(V.93, p. 302) has, according to reports, been postponed until about Sept. 1.
Union Irrigation District, Cameron County, Tex.-ElecBIWABIK,
Louis County, minn.-Bond 8(118.-1'111s village has sold
tion on Organization of District.-Papers state that on $30,000 street St.
bonds to the State of Minnesota. ,
Sept. 16 the matter of organizing the Union Irrigation DisBOTTINEAU COUNTY (P. 0. I3ottineiu), No. Dak.--Bond Offering.will be received until 2 p. ni. Aug. 28 for $105,428 75 6% coup.
trict, the first in the State, will be submitted to the resi- Proposals
Mouse River Drainage District
9 assess. bench'. Authority Chap. 23,
dents of the Raymondville District. The district as planned, Political Code. Denom. $1,000No.
and $428 75. Date Oct. 3 1911. Int.
Dec. at the Co. Treas. office. Due part yearly Dee. 30 from 1912 to
it is said, comprises 185,000 acres of land and the completion In
1926 incl. Cert. check for $1,000 required.
of the proposed irrigation system contemplates the exBRAZORIA COUNTY (P. 0. Angleton). Tex.-Bonds Not Sold.-No
penditure of nearly $3,000,000.
sale was made on Aug. 21 of the $100,000 4% bridge bonds. A bid was
we are advised, from A. J. Hood & Co. of Detroit.
Wichita, Kan.-Amended Recall Petition Filed.-An received,
BREWSTER.
County. Wash.-Bond Offering.-Proposals will
amended petition asking for the recall of Mayor Graham and be received untilOkanogan
Aug. 28, it is stated, for $7,500 water-system bonds.
BRISCO COUNTY COMMON SCHOOL DISTRICT NO. 1, Tex.-Bonds
Commissioners Leach and Campbell was filed with the City
-On Aug. 14 the State Comptroller registered $29,000 5% 30-40Clerk on Aug. 19. It is said that about two thousand names Registered.
year (opt.) building bonds.
on the first petition filed Aug. 5 (V. 93, p. 423) were reBRISTOL, Bucks County, Pa.-Bond Offering.-Proposals will be rejected, the signers not being registered voters. Additional ceived until 12 m.Sept. 7 by H. E. Ancker, Chief Burgess, and H. H.Poole,
Borough Treas., for $63,000 45'5% sewer bonds. Denom. $1,000. Int.
signers were secured, and the recall committee claims that A.
& O. Due on April 1 as follows: $3,000 yrly. from 1921 to 1936 incl.,
it now has almost six hundred more names than are necessary $4,000 in 1937, 1938 and 1939 and $3,000 in 1940. Bonds are exempt
from
State tax. Cert. cheek for 5% requIred.
to insure the calling of an election.
BRYAN. Brazos County, Tex.-Bonds Voted.-Reports state that the
election held Aug. 21 resulted in favor of the proposition to issue the
$20,000 5% 40-year water, light and sewerage-plant bonds (V. 93, p. 243).
BUFFALO. N. Y.-Bond Sales.-During the month of July the following
4% bonds were sold to the city sinking funds at par: $35,000 20-yr. gradecrossing bonds dated July 1 1911, $15,000 1-yr. grade-crossing bonds dated
Helena, Ark.-Tenders of Bonds Requested.-Aaron Mey- July 1 1911 $12,100 1-yr. certificates of indebtedness dated July 1 1911
ers, City Treasurer, will receive bids for the redemption of and $15,082'41 1-yr. monthly local-work bonds dated July 15 1911.
CALDWELL. Burleson County, Tex.-Bond Sale.-The $6,000 5%
Helena, Ark., 5% bonds due in 1924. See advertisement 10-40
-year (opt.) bonds registered by the State Comptroller on July 7
11
.81)
inh
ta
.v
j
e
.&
beep
. awarded to the County School Fund. Date
on a subsequent page.
JtVuly913.11)91.
News items.
Bond Calla and, Redemptions.
AUG. 26 1911.]
THE CHRONICLE
547
DEPORT INDEPENDENT SCHOOL DISTRICT (P. 0. Deport), Lamar
CALIFORNIA.-lIarbor Bonds to Be Offered Shortly.-On Aug. 17, it is
building bonds voted
stated, the Board of Harbor Commissioners adopted a resolution providing County. Tex.-Bonds Not Yet Offered.-The $20,000 the market.
for the sale of $1,000,000 of the $9,000,000 San Francisco harbor bonds on July 1 (V. 93, p. 120) have not yet been placed on
202.
p.
92,
DE WITT COUNTY COMMON SCHOOL DISTRICT NO. 3, Tex.
voted last November. V.
15 Bonds Registered.-The $5,000 5% school-house bonds (V. 93. p. 484)
CALISPEL DIKING DISTRICT NO. 1, Wash.-Bond Sale.-On Julythe
Comptroller.
by
15
the
Aug.
State
on
to
were
registered
awarded
the $40,000 gold coup. fund. bonds (V. 92, p. 1714) were
DEXTER SCHOOL DISTRICT (P. 0. Dexter), Dallas County, Ia.Hanchett Bond Co., Inc., of Chicago at par for 6s.
been voted by
CAMERON COUNTY (P.O. Brownsville), Tex.-Bond Election Proposed. Bonds Voted.-An issue of $10,000 bonds has, it is stated,
-Papers state that the voters of this county have presented the Commis- this district.
vote
to
called
be
election
sioners' Court with a petition asking that an
DOTHAN, Houston County, Ala.-Bonds Voted.-The election held
Aug. 21 resulted, reports state, in favor of the proposition to issue the
on the question of issuing $230,000 court-house bonds.
(V. 92, p. 1715).
CARBON COUNTY SCHOOL DISTRICT NO. 31 (P. 0. Deer Creek), $70,000 light-plant bonds
Mont.-Bond Sale.-On July 29 an issue of $5,000 6% 5-10-yr. (opt.) bldg.
EAGLE GROVE SCHOOL DISTRICT (P. 0. Eagle Grove), Wright
29
Date
July
$1,000.
bonds was awarded to the State at par. Denom.
County, lowa.-Bond Sale.-On June 8 an issue of $8,500 5% funding bonds
was awarded to G. M. Bechtel & Co. of Dvaenport. Denom. ;500. Date
1911. Int. in July.
the
that
state
July
1 1911. Int. J. & J. Due $500 July 1 1913 and $1,000 yrly. July 1
CARO. Tuscola County, Mich.-Bond Sale.-Local papers
$17,500 sewer bonds recently voted (V. 93, p. 243) have been awarded for from 1914 to 1921 incl.
&c.
printing.
engraving,
*70,025 (100.147) and expenses of
EAST SIDE LEVEE AND SANITARY DISTRICT (P.O. East St. Louis).
-Proposals will be received, according
CHAMPAIGN COUNTY (P.O. Urbana), Ohio.-Bond Sale.-On Aug. 21 St. Clair County, 111.-Bond Offering.D. Sexton, President, for $950,000 5%
the $5,040 4% 2)4-year (ay.) coupon Ditch No. 349 impt. bonds (V. 93, to reports, until 12 m. Sept. 1 by H.Cert.
check for 2% required.
p. 484), were awarded to 0. F. Vance Jr. at par and int. There were no sanitary bonds. Denom. $1,000.
will
other bidders.
ELLENSBURG. Kittitas County, Wash.-Bond Election.-A vote
proposition to issue $150,000
the
on
Sept.4,
reports
state,
Sale.
on
Mex.-Bond
taken
be
N.
12,
NO.
DISTRICT
MCHAVES COUNTY SCHOOL
bonds.
bonds
water
(V. 93,
On Aug. 21 the $2,000 6% 10-30-year (opt.) coupon building
p. 360) were awarded to J M. Hawkins of Alamogordo at 101.08, blank
EMPIRE SCHOOL DISTRICT, Fresno County, Cal.-Bond Offering.
Proposals will be received until 2 p. m. Sept. 4 by the Bd. of Supervisors
laonds and int. Bids were as follows:
0. Fresno) for $5,000 6% school-bldg. bonds. Authority Secs. 1885
J. M. Hawkins, Alamagor_$2,021 601Wm.E.Sweet&Co.,Denver..$2,000 00
(P.
Bank of Comm., Albuquer_ 2,000 901 Continental Tr. Co., Deny_ 2,000 00 and 1886, and other sections pertaining thereto, of Political Code. Denom.
$500. Date Aug. 7 1911. Int. Aug. Due $500 yrly. Aug. 7 from 1912
All bidders also agreed to furnish blank bonds free.
for $250, payable to the Chairman Bd. of SuperCHICAGO. ILL., SANITARY DI STRICT.-Bond Sale.-The following to 1921 incl. Cert. checkBarnwell
is Clerk.
bids were received on Aug. 24 for the $1,000,000 4% bonds (V. 93, p. 360): visors, required. D. M.
*$100,000_99.64
Brewton), Ala.-Bond Election.-The voters
(P.O.
National Bank of the Republic, Chicago
COUNTY
A
I
ESCAMB
.556
_99
•250,000_
Chicago
of this county will be given an opportunity on Nov. 14, It is stated, to deN. W. Halsey & Co.,
*250,000_ _99.426 cide whether or not $100,000 bonds shall be issued for road improvements.
Emery, Peck & Rockwood, Fort Dearborn Trust &
ESCAMBIA COUNTY (P. 0. Pensacola), Fla.-Bond Offering.-ProSavings Bank,'Union Trust, Chicago Savings,People's} 1,000,000_x99.39
posals will be received until 10 a. m. Sept. 19 by the Bd. of Comm'rs for
Trust Co. and C. F. Childs Fe Co., Chicago
coup. bonds. Denom. $500. Date Oct. 1 1911. Int. Oct.
$180,000 4
Savings
&
State
Trust
Commercial
&
Continental
Due 36,000 yearly on Oct. 1 from 1912 to 1941 inal. Cert. check for 214%
& 1,000,000_99.31
Bank, E. H. Rollins & Sons and Lee,.
of bid required. Jas. AfneGlbbon, Clerk Bd. of Co. Comm'rs. These bonds
Chicago
were previously offered on Aug. 15, but the bids received were rejected
200,000_ _99.10
Co., Bolger Co., Chicago
Thos.J.
(V. 93, p. 484).
Northern Trust Co., Wm.Salomon & Co., and Wm. A.
ESSEX COUNTY (P. 0. Salem), Mass.-Loan Offering.-Proposals will
1,000,000_ _99.037
Read & Co., Chicago
be received until 9:30 a. m. Aug. 31 by the County Commissioners for the
1,000,000_ _99.03
Illinois Trust Co., Chicago
1.000,000...98.888 following 4% coupon bonds and note:
Harris Trust & Savings Bank, Chicago
bonds. Denom. $500. Due $2,500 yearly Sept. 1 from 1912 to
• Successful bids. 5 Awarded 8,100,000 at this price. The bonds $12,500 1916
incl.
awarded to the Nat. Bk. of the Rep. arc due $50,000 Sept. 1 1912 and
26,000 bonds. Denom. $1,000. Due $2,000 yearly Sept. 1 from 1912
$50,000 Sept. 1 1031; the other successful bidders received bonds due
incl.
1924
to
inclusive.
1930
from 1913 to
37,000 bonds. Denom. $1,000. Due $3,000 yearly Sept. 1 from 1912
will
CHICOPEE, Hampden County. Mass.-Loan Offering.-Proposals
to 1922 incl. and $4,000 Sept. 1 1923.
tempora
for
the
by
Treasurer
stated,
be received until 12 m. Aug. 30, it is
10,000 notes due Sept. 1 1912.
ary loan of $45,000 due Feb. 10 1912.
Date Sept. 1 1911. Int. M. & S. at the First Nat. Bank of Boston.
CLARION, Wright County, lowa.-Bond Election.-An election will be Bonds and notes areexempt from taxation in Massachusetts and certified as
to genuineness by the First Nat. Bank of Boston, their legality being
held Sept. 2 to vote on the question of issuing ;5,000 5% city-hail bonds.
CLARKSBURG SCHOOL DISTRICT (P. 0. Clarksburg), Harrison approved by Ropes, Gray & Gorham, whose opinion will be furnished the
County. W. Va.-Bond Offering.-Proposals will be received until 1 p m. purchaser. Bonds will be delivered Sept. 1 1911.
Sept. 22 by J. N. Hess, Secy. Bd. of Ed. for the $275,000 5% gold coup.
ESSEX COUNTY (P. 0. Newark), N. J.-Bond Offering.-Proposals
bldg. bonds of 1911 voted July 25 (V. 93, p. 424). Date Sept. 1 1911. will be received until 2 p. m. Sept. 13 by the Finance Committee of the
Due Sept. 1 1941; opt. after Sept. 1 1921. Bonds to be paid for on or Board of Chosen Freeholders, Amos W. Harrison, Chairman, for $110,000
before Sept. 29 1011. Cert. check for 5% of bid, payable to the Bd. of
4% gold coupon park bonds. Denom. $1,000. Date Sept. 1 1911. Int.
Education, required.
First M. & S. Due Sept. 1 1951. Bid must be unconditional and be made on
CLERMONT COUNTY (P. 0. Batavia), Ohio.-Bond Sale.-The issue
an
reports,
to
according
awarded,
been
has
each issue separately. Cert. check for 1% of each issue bid for is requirNational Bank of Batavia
of $9,000 4% toll-plke purchase bonds for $9,010 (100.11) and accrued int. ed. The genuineness of the bonds will be certified to by the U.S. Mtge. &
Ohio.
CLEVELAND HEIGHTS SCHOOL DISTRICT. Cuyahoga County,
Trust Co. of N. Y. City. They will be ready for delivery on or before
-Bond Sale.-On Aug. 18 the $7,000 4.% 12-yr. (ay.) coup. bldg. bonds Oct. 1 1911.
(V. 93, p. 360) were awarded to Otis & Hough of Cleveland for $7,212
realso
was
of
bid
$7,142
The official notice of this bond offering will Sc found among the advertise(103.028) and int., a basis of about 4.177%. A
ments elsewhere in this Department.
ceived from Seasongood & Mayer of Cincinnati.
CLEVELAND SCHOOL DISTRICT (P. 0. Cleveland), Cuyahoga
ETOWAH, McMinn County. Tenn.-Bond Election.-A proposition to
County. Ohio.-Bond Sale.-On Aug. 21 the $500,000 4)4% 20-year coup. issue $25,000 street and sewer bonds will be submitted to the voters on
bldg. and impt. bonds (V. 93, p. 424) were awarded, reports state. to Aug. 29, according to reports.
Hayden, Miller & Co. and the Cleveland Trust Co. of Cleveland at their
EUFAULA, McIntosh County, Okla.-Bonds Voted.-Papers say that
joint bid of 106.14.
the issuance of $9,000 school-building bonds was authorized at a recent
COALINGA. Fresno County, Cal.-Bids Rejected.-Only one bid was re- election.
ceived on Aug. 7 for the $40,000 5% sewer bonds (V. 93, p. 360). This
EVERETT. Middlesex County, Mass.-Note Sale.-On Aug. 22 the
offer was rejected.
$60,000 4% registered loan notes were awarded to Biodget & Co. of Boston
COLE CAMP, Benton County, Mo.-Bonds Offered by Bankers.-The at 100.789 and int. Blake Bros. & Co. offered 100.73 and Adams & Co.
0 water 100.27. Due 1912 to 1921 incl.
T. Holtz & Co. of Chicago is offering to investors $10,000 67
bonds. Denom. $1,000. Date July 1 1911. Int. J. Fc J. at the City
FALLS CITY. Polk County, Ore.-Bond Election.-According to reports,
Treasurer's office. Due $5,000 July 1 in 1921 and 1926. Total bonded
this city will hold an election to vote on a proposition providing for the
debt $10,000. Actual value (est.), $1,000,000; assessed value, $273,280
issuance of $5,000 water bonds. •
COLEMAN, Coleman County, Tex.-Bonds Voted.-At the election held
FARGO,Cass County, No. Dak.-Bonds Offered to Investors.-The Minnein this city Aug. 12 (V. 93, p. 360) a proposition to issue $25,000 5% 15-40- apolis
Trust Co. in Minneapolis has purchased and is offering to investors the
yr. (opt.) street-impt. bonds carried, according to reports.
$65,000 5% 13-yr. (ay.) water-works bonds offered on July 10 (V. 93, p.
-On
Sale.
COLE SCHOOL DISTRICT. Stanislaus County, Cal.-Bond
Denom. $1,000. Date July 1 1911. Int. J. do J. at the First Na120).
Aug. 15 an issue of $6,500 6% building bonds was awarded to J. H. Adams tional Bank in Minneapolis.
Fc Co. of Los Angeles for $6,561 (100.938) and int. There were no other
Oakland County, Mich.-Bond Election.-This village,
FARMINGTON,
bidders. Denom. $500. Date Aug. 15 1911. Int. Aug. Due part yearly
it Is stated, will submit to the voters on Aug. 28 a proposition providing for
from 8 to 14 years incl.
of water-works system bonds.
issuance
the
CONNEAUT, Ashtabula County, Ohio.-Bond Sale.-On Aug. 21 the
FAYETTE, Ftilton County, Ohio.-Bond Offering.-Proposals will be
$5,444 39 4 ;.4% coup. land purchase bonds (V. 93, p. 360) were awarded to
until 4 p. m. Sept. 5 by C. D. House, VII. Clerk, for $18,650 4)4%
the Provident Savings Bank & Trust Co. of Cincinnati at 103.02 and int. received
coup. West Main St. paving bonds. Denom. $1,000, $500 and $150.
The bids follow:
5 1911. Int. M. & S. at the Village Treas. office. Due $654
Date
Sept.
Colum.$5,547
39
Bk.,
Nat.
[New
81
Cin.$5,608
First
Prov.Sav.Bk.&Tr.Co.,
par Mch. 5 and $500 Sept. 15 in 1913, $500 Mch. 5 and $1,000 Sept. 5 in 1910
Davies-Bertram Co., Ctn.. 5,595 391Mutual Loan Fe Tr. Co., Cin.
and $1,000 each six months from Mch. 5 1915 to Sept. 5 1922 incl. Cert.
All bidders also offered accrued int. Due part yrly. from 1921 to 1926, check
on a bank for 5% of bonds bid for, payable to the VB. Clerk, required.
incl.
val. for 1911, $700,000.
- Assessed
.0. Vidalia). La.
CONC()RDIA PARISH SCHOOL DISTRICT NO.5 (I,
SCHOOL DISTRICT NO. 2 (P. 0. Timber Lake), Dewey County.
FETT
Bond Offering.-The School Board is offering for sale an Issue of $20,000
Dak.-Bond Sale.-On Aug. 21 the $8,000 5-15-year (opt.) reg. bldg.
5% gold coup. bldg. bonds. Denom. $500. Int. semi-ann. In Vidalia So.
93, p. 361) were awarded to the H. C. Speer & Sons Co. of
or New York. Due part yearly Oct. 1 from 1913 to 1930. Calhoun & bonds (V.
at par for Os. Bonds will be dated Sept. 1 1911.
Denver
Calhoun are the attorneys.
Weld County, Colo.-Purchase of Bonds.-The $35,00()
LUPTON.
FORT
Tehama
CORNING UNION HIGH SCHOOL DISTRICT (P. 0. Corning).
water bonds sold on June 16 (V. 93, p. 485) were purCounty, Cal.-Bond Election.-An election will be held to-day (Aug. 26) 6% 10-15-yr. (opt.)
Denom. $1,000 and
of Denver at par and in
according to reports, to vote on the question of issuing $46,000 bldg. bonds. chased by A. E. Wilson
Int. J. &J.
1911.
1
July
Date
$500.
CROWLEY. Arcadia Parish, La.-Bonds Not Sold.-No sale has been
-Bids
Rejected.-Four
Y.
N.
County,
Cattaraugus
FRANKLINVILLE,
Dist.
bonds
Ward
and
Drain.
Sixth
Crowley
made of the $75,000 5% coup.
bids were received on Aug. 23 for the $50,000 sewer bonds (V. 93, p. 485).
offered on July 8 (V. 92, p. 1654), we are advised under date of Aug. 18.
rejected and the bonds will be re-advertised.
these
were
of
All
CULLMAN. Cullman County, Ala.-Bond Sale.-The $15,000 sidewalk
FREEPORT PARK DISTRICT (P. 0. Freeport), 111,-Bond Sale.-On
bonds (V. 93, p. 120) have been sold.
Aug. 15 $75,000 4)4% park bonds were awarded to N. W. Harris & Co. of
CUYAHOGA COUNTY (P. 0. Cleveland), Ohio.-Bond Offering.-Pro- Boston at 100.88. A bid of $75,125 was also received from the Merchants'
posals will be received until 11 a. m. Sept. 13 by the Bd. of Co. Comm'rs, Loan & Trust Co. of Chicago. Denom. $1,000. Date Aug. 1 1911. Int.
J. F. Goidenbogen, Clerk, for $200,000 4% coup. bonds. Authority F. & A. Due part yrly. from 1916 to 1930.
Secs. 2434, 2435 and 2438, Gen. Code; also an election held Nov. 5 1910.
FRUITLAND SCHOOL DISTRICT. Los Angeles County, Cal.-Bonds
Denom. $1,000. Date Sept. 1 1911. Int. A. & 0. at the Co. Treas.
W. R. Staats Co. of Los Angeles is offering to
office. Due $10,000 yearly Oct. 1 from 1912 to 1931 incl. Cert. check on Offered by Bankers.-The
bldg. bonds. Denom. $1,000. Date Aug. 1 1911.
a bank other than the one making the bid, for not less than 1% of bonds Investors $5,000 5%
office.
Due $1,000 Aug. 1 1921 and $2,000 Aug.
Treas.
Co.
the
at
ann.
Int.
Treas.,
Co.
unconditional.
required.
the
be
Bids
must
bid for, payable to
present. Real value (est.), $1.500,000;
A complete transcript of all proceedings, together with the form of bond 1 in 1922 and 1923. No debt at
to be used and form of bids for said bonds, furnished upon application to assessed valuation, $871,908.
said board.
FULLERTON UNION HIGH SCHOOL DISTRICT, Orange County, Cal.
state that the question of issuing $130,000 polyDARKE COUNTY (P. 0. Greenville), Ohio.-Bond Sale.-On Aug. 18 -Bonds Voted.-Papers carried by a vote of 458 to 126 at a recent election.
the 2 issues of 4)4% road and ditch-impt. bonds, aggregating $192,500 technic high-school bonds
ROAD
DISTRICT (P.O. Fulton) Callaway County,
(V.93, p. 361), were awarded to the Greenville Nat. Bank in Greenville for
SPECIAL
FULTON
Mo.-Bonds Proposed.-According to reports,this district proposes issuing
$194,030 40 (100.795) and int. Other bids follow:
1Well, Roth & Co., Cincin__$193,521 *100,000 highway-improvement bonds.
Hayden, Miller & Co.,
$193,961 501•Davies-Bertram Co., Cin__ 194,279
Cleveland
GILMER. Uoshur County, Tex.-Bonds Registered.-On Aug. 17 an
• Bid said to be conditional.
issue of $15,000 5% 5-20-year (opt.) street-improv't bonds was registered
DAVENPORT, lowa.-Bonds Offered by Bankers.-N. W. Halsey & Co by the State Comptroller.
of Chicago are offering to investors $75,000 47 improvement bonds dated
GRAND RAPIDS, Kent County. Mich.-Bond Offering.-Proposals will
Sept. 1 1011 and due serially front 1917 to °1931, prin. and int. being be received until 3 p. m. Aug. 28 by J. Schriver, City Clerk, for the followpayable at the office of Halsey & Co. in Chicago.
ing coup. bonds:
ion bonds voted Apr. 4 1910. Due 20 yrs.
DAVIDSON COUNTY (P. 0. Nashville), Tenn.-Bond sate.-N. W. $200,000 4% rapid-sand-filtrat
200,000 4)4% trunk-sewer bonds. Due $40,000 yrly. Aug. 16 from 1912
an
been
issue
stated,
of
it
is
awarded,
have
Halsey & Co. of Philadelphia
inel.
1918
to
$150,000 4% bonds.
548
THE CHRONICLE
Denom. *1,000. Date Aug. 15 1911. Int. F. & A. at the Treas. office.
Bonds are exempt from all taxation. Unconditional cert. check for 3%
of bonds bid for, payable to the Treas., required. Official circular states
that there is no question as to the legality of the corporate existence of the
city or the terms of the officials; also that the city has never defaulted payment on any bonds on maturity and the legality of a bond issue has never
been questioned. The rapid-sand-filtration bona", were previously offered
on July 3 and July 31 (V. 93, p. 182).
GRANT CITY, Worth County, Mo.-Bonds Voted.-On Aug. 15 this city
voted, it Is stated, to issue $2,000 bonds for the purpose of sinking a well.
The vote is given as 133 to 29.
GRANT'S PASS, Ore.-Bond Sale.-On Aug. 17 $5,500 6% 10-year
fire-apparatus bonds were awarded to the Security Savings Bank & Trust
Co. of Toledo at 101.85-a basis of about 5.34%. Denom. $500. Date
Aug. 17 1911. Int. in August.
GREENFIELD, Highland County, Ohio.--Bond Offering.-Proposals
will be received until 12 m.Sept. 2 by E. M. Conner, Vii. Clerk, for $40,000
4% refunding bonds. Denom. $500. Date Sept. 11911. Int. M. &S.
Due $2,000 yrly. Sept. 1 from 1912 to 1921, incl., and $2,500 yrly. Sept. 1
from 1922 to 1929. Incl. Purchaser to pay accrued interest.
GREENVILLE. Washington County. Miss.-Bonds Voled.-The question of issuing sewer bonds carried at an election held Aug. 22, it Is stated
GRIFFITH, Lake County, Ind.-Bond Offering.---Proposals will be received until 3 p. m.Sept. 1, it is stated, by the Town Board, M. J. Beiriger,
Secy., for $4,500 5% town-hall bonds. Denom. 8500. Date Sept. 1
1911. Due $500 Sept. 1 1912 and $1,000 yearly Sept. 1 from 1913 to
1916 inclusive.
GROESBECK INDEPENDENT SCHOOL DISTRICT (P. 0. Groesbeck),
Limestone County, Tex.-Bonds Registered.-On Aug. 18, $5,000 5% 5-40year building bonds were registered by the State Comptroller.
GROVE CITY, Franklin County, Ohio.-Bond Sale.-On Aug. 15 the
$16,610 (not $1,931, as first reported) 5% street-impt. assessment bonds
were awarded to the New First Nat. Bank in Columbus for $16,873 (101.583)
and int. Denom. 10 bonds of $361 each and 10 bonds of $1,300 each.
Date Aug. 15 1911. Int. Aug. Due one bond yearly for 10 years.
HADDON HEIGHTS, Camden County. N. J.-Bond Sale.----The $30,000
street bonds bids for which were rejected on Aug. 1 (V. 93, p. 361) have
been awarded, it is stated, to the Camden Safe Deposit & Trust Co. as 5s
at 102.535.
HAMILTON. Butler County, Ohio.-Bond Sale.-On Aug. 16 the
$9,884 70 4% 53,5-yr. (ay.) coup. sewer assess. bonds (V. 93, p. 361)
were awarded, it is stated, to the First Nat. Bank of Hamilton for $10,050.76
-making the price 101.679.
HAMPTON COUNTY (P. 0. Hampton). So. Caro.-Bonds Defeated.The question of Issuing $25,000 bonds in each township in the county for
road improvements was defeated on Aug. 22, it is stated.
HANCOCK COUNTY (P. 0. Findlay), Ohio.-Bond Sale.-The bids reoeived on Aug. 21 for the four issues of 5% bonds (V. 93, p. 485) were as
follows:
Prem. on Prem. an
$12,600. $16,500
Seasongood & Mayer, Cincinnati
s$432 00 *$622 00
Prov. Say. Bank & Trust Co., Cincinnati
359 38
537 08
Otis & Hough. Cleveland
400 00
575 00
New First National Bank, Columbus
378 00
559 00
Hayden, Miller & Co., Columbus
548 00
372 00
Well, Roth & Co., Cincinnati
519 75.
382 50
Davies-Bertram Co., Cincinnati
604 00
403 00
Stacy & Braun, Toledo
529 05
322 20
Prem. on Prem.on
$1,600. $1.900.
John A. Sutton, Findlay
,$4S 50
*$41 50 '
New First National Bank, Columbus
2 30
2 00
'Accepted bid.
HARLEM, Chouteau County, Mont.-Bond Sale.-On Aug. 15 the
$33,800 20-yr. coup. water bonds (V.93, p. 182) were awarded to the American Light & Water Co. of Chicago at par for 6s. No charge to town for
preparing bonds. A bid of par less $1,690 for preparing bonds was received from S. A. Kean & Co. of Chicago, and a bid of par and int. less
$1,926 for preparing bonds was also received from the New First National
Bank of Columbus.
HARDWICK. Caledonia County, Vt.-Bonds Awarded in Part -Of the
$25,000 4% 20-year coupon electric-light loan of 1911 bonds offered on
Aug. 21 (V. 93, p. 485), $20,000 were awarded to the Proctor Trust Co. In
Proctor at par and fut. We are advised that more of these bonds will be
offered, probably within two months.
HARRISONBURG. Rockingham County, Va.-Bands Proposed.-Thls
town proposes to issue $50,000 school, fire-engine, sidewalk and filtrationplant bonds.
HARRISON COUNTY (P.O. Corydon), Ind.-Bond Offering.-Proposals
will be received until 2 p. m.Sept. 6 by W. D. Barnes, County Treasurer, it
Is stated, for the $19,520 Boone Township and Laconia and $18,000 Webster
Township and New Middletown road bonds (V. 93, p. 485).
HARRISON SPECIAL SCHOOL DISTRICT (P. 0. Harrison), Boone
County, Ark.-Bond Sale.-It is stated that this district has awarded an
issue of $20,000 5% bonds to Francis Bros. & Co. of St. Louis at 98.
HILLSBORO, Montgomery County, III.-Bonds Voted.-The question
of issuing $15,000 bonds was authorized, reports state, at the election
held Aug. 22.
HILLSBORO, Hill County, Tex.-Bonds licted.-A favorable vote was
cast on Aug. 21 on the proposition to issue the $10,000 funding, $15,000
water and $5,000 sewer 5'f, 15-40-year (opt.) bonds (V. 93, p. 361). The
vote was 171 to 78 for funding bonds, 172 to 75 for water bonds and 141
to 105 for sewer bonds.
HOBART. Kiowa County, Okla.-Bonds Voted.-A favorable vote was
cast on Aug. 15. It is reported, on the question of issuing the $100,000 water,
$50,000 city-hall and $20,000 park bonds (V. 93, p.361).
HOUSTON HEIGHTS, Harris County, Tex.-Bond Election Proposed.The taxpayers of this municipality have submitted a petition to the City
Council asking it to call an election to vote on the question of issuing $180,000 paving bonds.
HUDSON. St. Croix County, Wis.-Band Offering.-Proposals will be
received until 8 p. m. Sept. 4 by
E. Denniston, City Clerk, for $20,000
4Y2% coup. street-Insist. bonds.E.Denom. $1,000. Date Aug. 1 1911.
Int. F. ec A. at the City Treas. office. Due $1,000 yrly. Feb. 1 from 1912
to 1931 incl. No deposit required. A like Issue of bonds was awarded on
May 27 to the Bank of Hudson and the First Nat. Bank in Hudson (V. 92,
p.1515).
HUMBOLDT, Humboldt County, Iowa.-Bond Sale.-The $2,800 highschool and $1,200 funding bonds voted Juno 29 (V.93. p. 121) have been
sold, we are advised.
JOHNSON COUNTY (P. 0. Franklin), Ind.-Bond Offerino.-Proposals
will be received until 1 p. m. Sept. 4 by 'I'. J. Forsythe, Co. Treas., reports
state, for $5,500 6% gravel-road bonds. Denom. $275. Int. M. & N.
KANDIYOHI, Kandiyohi County, Minn.-Bands Not Sold.-No sale has
been made of $1,000 bonds offered on June 26.
KING COUNTY SCHOOL DISTRICT NO. 172, Wash.-Bond Offering.
Proposals will be received until 11 a. m. Sept. 2 by W. H. Hanna, Co. Treas.
(P. 0. Seattle), for $5,000 coup. bldg. bonds at not exceeding 6% int.
Authority, election held July 24. Denom. $500. Int. ann. at the Treas.
office or at the fiscal agency of the State In New York, at the option of
purchaser. Due 10 yrs., opt. after 2 yrs. Bonds will be delivered Oct. 1
1911. Cert. check or draft for 1% of bonds, payable to the Co. Treas., required. No bonded debt. Outstanding warrants, *748 25. Assessed
val., $122,670.
KIRKWOOD, Saint Louis County, Mo.-Bond Offering.-Proposals will
be received until Sept. 2 for the $10,000 5% 10-20-year (opt.) electric-lightplant bds.(V. 93, p. 424). Auth. vote of 445 to 51 at election held Aug. 19,
KNOXVILLE SCHOOL DISTRICT (P.0. Knoxville). Knox County.
-Bond Sale.-We are advised that the 11.000 school bonds voted July 1
(V. 93, p. 183) have been sold.
LECOMPTON, Douglas County. Kan.-Bonds Voted.-The election held
Aug. 15 (V. 93, p. 424) resulted In favor of issuing $2,500 10-yr. electric-light-plant bonds at not exceeding $% Int. Vote 63 to 3. Bonds
will be offered about Sept. 10.
[\Tor,. LXXXXIII.
LEETONIA. Columbiana County. Ohio.-Bond Sale.-On July 10 the
three issues of 5% 5 3-yr. (ay.) street-impt. assess. bonds. aggregating
$21.215 (V. 93, p. 66), were awarded to Tillotson & Wolcott Co. of Cleveland.
LENOX, Taylor County, Ia.-Bond Election Rescinded.-Wo are advised
that the election which was to have taken place on Aug. 15 to vote on the
proposition to issue the $35,000 water bonds (V. 93, p. 362) has been
called off.
• LEON COUNTY ROAD DISTRICTS (P. 0. Centerville). Tex.-Bond
Offerino.-ProposaN will be received until 12 rn. Oct. 1 by W. D. Lacey
Co. Judge, for the following 5% bonds: $15,000 bonds of District No. 1,
$20,000 bonds of District No. 2. $80,000 bonds of District No. 3, $30,000
bonds of District No. 4, $11,001) bonds of District No. 5, $8,000 bonds of
District No. 6 and $50,000 bonds of District No. 7. Due 40 years (except
District No. 7, which matures in 30 years), opt. after 5 years.
LE ROY (Town). Jefferson County, N. Y.-Bond Ofiering.-Proposals
will be received, it is stated, until 12 m. Aug. 30 by W. Riley, Supervisor
(P. 0. Evans Mills) for $5,000 4 j.% bridge bonds. Denom. $1,009. Date
Aug. 1 1911. Int. F. & A. at tile Jeffason County Nat. Bank in Watertown. Due $1,000 yearly Feb. 1 1913 to 1917 incl. Certified check for
$1,000 required.
LIBERTY TOWNSHIP(P.O. Van Wert), Ohio.-Bond Sale.-On June 28
$7,000 4% road-impt. bonds were awarded to the Farmers' Bank in Ohio
City at par. Denom. $500. Date July 10 1911. Int. M. & S. Due
Sept. 15 1926.
LIMESTONE COUNTY (P. 0. Groesbeck), Tex.-Bond Election.-An
election will be held inl.texia Justice Precinct on Sept. 25, it is stated, to decide whether or not $150.000 road-constr. bonds shall be issued.
LINCOLN COUNTY (P.O. Brookhaven), Miss.-Bond Sale.-On Aug. 9
$150,000 5% Road District No. 1 bonds were awarded, *90,000 to the
Brookhaven Bank & Trust Co. and $60,000 to the Commercial Bank in
Brookhaven at par. Denom. $500. Date Feb. 9 1011. Int. Feb. Due
part yearly from 1922 to 1936.
LOGAN COUNTY (P.0. Beilefontaine), Ohlos-Band Sale.-The $15,000
4 36% road-building bonds offered on Aug. 21 (V. 93, p. 424) have been
awarded to Seasongood & Mayer of Cincinnati at 100.78. Denom. $500.
Date Aug. 211911. Int. J. & J. Due from July 1 1911 to Jan. 11917.
LONG BEACH, Los Angeles County, Cal.-Bond Offerino.-Proposals
will be received until 7:30 p. in. Sept. 8 by C. 0. Boynton, City Clerk, It is
stated, for the $850,000 4 Si% water-plant-purchase bonds voted (V. 93,
p. 121) on June 27. Denom. $500. Date July 1 1911. Int. J. & J. in
Long Beach or at Kountze Bros., New York. Due $25,000 July 1 1917 to
1950 incl. Cert. check for 5% of bid, on a bank in Cal., required.
LORAIN COUNTY (P.O. Elyria),()Mo.-Bond Sale.-The $70,000 4
coup. Black River bridge bonds offered on Aug. 22 (V. 93, p. 362) have been
awarded to C. E. Denison & Co. of Cleveland at 101.792 and list. Due
$3,000 on March 13 and $4,000 on Sept. 15 from 1912 to 1921 incl.
Following are the bids:
C. E. Denison & Co., Clev_$71,254 80 Well, Roth & Co., Clnc. $70,919 00
New First Nat. Bk., Col__ 71,029 00 Stacy & Braun, Cleve_ _ _ 70,881 80
Hasrden, Miller& Co-Clev. 71,018 00 S. A. Kean & Co., Chicago 70,455 00
Otis & Hough. Cleve____ 70.983 50
LOWER MERION (P. 0. Ardmore). Montgomery County, Pa.-Bond
Election..-Reports state that an elect on will be held early in November to
vote on the question of issuing $20,000 playrgound bonds.
LOWVILLE, Lewis County. N. Y.-Bond Offering.-Proposals will be
received until 10 a. m. Sept. 16 by A. A. Copeiey, Town Supervisor, for the
$9,000 5% coup. bridge bonds voted June 6 (V. 92, p. 1584). Denom.
$1,000. Date Aug. 15 1911. Int. Feb. at the Black River Nat. Bank of
LowvIlle. Due $1,000 yrly. Feb. 1 from 1912 to 1920 incl. Bonds are
exempt from all taxation and to be delivered and paid for on or before
Sept. 21 1911. Purch. will be required to pay 5% of bonds awarded within
48 hours after receiving notice to that effect. Bonded debt at present,
$9,000; no floating debt. Assessed val., $2,137,600.
MACON COUNTY (P. 0. Macon), Mo.-Bond Sale.-On Aug. 10 the
$750.000 5% refunding bonds (V. 93, p. 304) were awarded, it Is stated, to
the W. R. Compton Bond & Mtge. Co. of St. Louis. • Bonds to be delivered
and paid for Sept. 1.
MADISONVILLE INDEPENDENT SCHOOL DISTRICT (P.O. Madisonville, Madison County, Tex.-Bond Offering.-Proposals will be received
at once by J. J. Jopling, Pres. of School Board, for the $18,000 5% building
bonds registered by the State Comptroller on July 11 (V. 93, p. 245).
Denom. $400. Date Apr. 1 1911. fnt. payable at Madisonville or Austin.
Due 40 years, opt. after 1 year. Cert. check for $500, payable to the
Pres. of School Board, required. No debt at present.
MANITOWOC, Manitowoc County, Wis.-Bonds Voted.-An election
held Aug. 17 resulted, ills stated, in a vote of 870 to 71 in favor of a proposition to issue 3230,000 bonds to purchase the plant of the Manitowoc
Water Works Co. The question of buying the plant was favorably voted
on Jan. 17. See V. 92. p. 273.
MANSFIELD. Bristol County, Mass.-Bond Offering.-Proposals will be
received until 12 m. Aug. 29 by .8. A. Wheeler, Town Treas., for $10,000
school and $22,500 lighting-plant 4% coup. bonds. Denom. $1,000 and
$500. Date Sept. 11911. Int. M. & S. at the First Nat. Bank of Boston.
School bonds are due $1,000 yrly. Sept. 1 from 1912 to 1921 incl, and light
bonds $1,000 yriy. Sept. 1 from 1912 to 1933 incl. and $500 Sept. 1 1934.
The bonds will be delivered Sept. 1 1911 and are exempt from taxation in
Massachusetts. They will be certified as to genuineness by the First Nat.
Bank of Boston, and their legality approved by Ropes, Gray & Gorham,
whose opinion will be furnished the purchaser.
MARICOPA COUNTY SCHOOL DISTRICT NO. 45, Ariz.-Bond Sale.On July 14 $4,000 5% building bonds were awarded to the Valley Bank in
Phoenix. Denom. $500. Date July 171911. Int. In July. Due July 17
1931.
MARQUETTE. Marquette County, Mich.-Bond Offering.-Proposals
will be received until 2 p. m. Sept. 5 by the Light & Power Commission,
G. W. Rule, Sec., for the $100,000 4% coup, or reg. light and power impt.
bonds voted April 3 (V. 92. p. 977). Denom. $1,000. Date Sept. 1 1911
Int. M. & S. at the City Treas. office. Due $20,000 yrly. Sept. 1 from
1914 to 1918 incl. Bonds to be delivered on or before Sept. 25 1911 and
are exempt from taxation in Michigan. Official circular states that this
city has never defaulted nor contested any financial obligation whatever,
and there is no litigation or controversy over the corporate existence,
boundaries or powers of the municipality, or any of Its officers, or as to
the validity of the proposed issue of bonds.
MASSILLON, Stark County, Ohio.-Bonds Authorized.-An ordinance
has been passed providing for the issuance of *1,600 4% coup. city-hailimpt. bonds. Auth. Sec. 3939, Gen. Code. Denom. $1,000 and $600.
Date Sept. 1 1911. Int. M. & S. at the State Bank of Massillon. Due
$1,000 Sept. I 1914 and $600 Sept. 1 1915.
MEMPHIS, Tenn.-Bond Sale.-The 3661,000 6% I-5-yr. street-impt.,
$150,000 414% 25-yr. Normal School and the $300,000 44% 35-yr. streetimpt., &e., bonds offered on Aug. 22 (V. 93, p. 362) were awarded, it is
stated, to the Union & Planters' Bank & Trust Co. of Memphis. The first
Issue was awarded for $670,637 38 (101.46) and the other two issues at par
ad interest.
Following are the bids:
$300,000
$150,000
$661.000
6% bonds. 4 M% Ns. 4 WI, bds.
Bk. of Commerce & Tr. Co.,Memphis1678,186 00
Harris Trust & Savings Bk., Chicago_ 663,115 00 $300,960 00 $150,480 00
673,058 00
C. E. Dempson of 3d Nat. Bk.. Chic.. 677,789 40
671,775 75
First National Bank, Cleveland
674,225 00
Breed & Harrison. Cincinnati
Provident Savings Bank & Trust Co.,
1,118,862 00
Cincinnati (on all Issues)
New First National Bank, Columbus.. 671,286 25
681,100 00
Western German Bank, Cincinnati
MIAMI COUNTY (P. 0. Troy), Ohio.-Bond Sale.-On Aug. 19 the
$15,000 5% bridge bonds (V. 93, p. 486) were awarded to the Piqua Nat
Bank in Piqua for $15,402 90 (102.686) and int. A bid of *15,415 75 was
also received from the First Nat. Bank in Troy. Due 1913 to 1917 incl.
MIDDLETOWN. Orange County, N. Y.-Bond Offering.-Proposals will
be received until 2 p. m. Aug. 30 by I. B. A. Taylor, City Treas., for
$20,000 434% reg. street-inspt. bonds. Authority Chap. 664, Laws of
1911. Denom. *1,000. Int. M. & S. at the City Treas. office. Due
AUG. 26 1911.]
THE CHRONICLE
549
57,812 25 6% drainage bonds of Elkhorn River Drainage District. Date
July 1 1911. One bond yrly. 1912 to 1930.
8,400 00 6% water and light bonds (2 issues, $4,200 each) of Giltner on a
5% basis. Date Dec. 20 1910. Due Dec. 20 1930, opt.
after Dec. 20 1915. Sale previously reported in V.93,p.182.
25,100 00 5% bonds ($12,000 water, $8,500 light and $4,600 sewer) of
Gordon at par. Date Jan. 1 1911. Due Jan. 1931; opt.
after Jan. 1 1916. V.92, p. 1193.
455 00 5% bonds of Greeley County Sch. Dist. No. 50 at par. Date
March 30 1911. Due March 1 1921.
7,000 00 5% bonds of Howard County Sch. Dist. No. 30 at par. Date
April 10 1911. Due July 1 1916, 1921 and 1926.
18,500 00 6% water bonds of Kenesaw on a 5% basis. Date May 1 1911.
Due May 1 1931, opt. after May 1 1916. V. 92, p. 1715.
7,000 00 5% improvement bonds of Morrill County at par. Date July 1
1911. Due July 1 1931, opt. after July 1 1921.
15,000 00 5% road bonds of Winter Creek Precinct, Scotts Bluff County,
at par. Date July 1 1910. Due 1920 to 1930.
10,000 00 5% school-house bonds of York County Sch. Dist. No. 95 on
a 434% basis. Date Jan. 1 1911. Due Jan. 1 1921.
NESS CITY, Ness County, Kan.-Bonds Voted.-The proposition to
issue the $16,000 5% 10-20-yr. (opt.) electric-light bonds carried by a vote
of 119 to 54 at the election held Aug. 15 (V. 93, p. 245).
NEWARK. Licking County, Ohio.-Bond Offering.-Proposals will be
received until 12 m. Sept. 7 by W. F. Wulfhoop, City Aud., for the following 5% coup. Impt. bonds:
$11,405 street-impt. (city's portion) bonds. Auth. Sec. 3821, 3918, 3919
and 3920, Gen. Code. Denom. $1,000, except one bond of $405.
Due $2,000 yearly Aug. 1 from 1914 to 1918, incl., and $1,405
Aug. 1 1919.
11,300 Pine St. paving assess. bonds. Auth. Sec. 3914, 3918, 3919 and
3920, Gen. Code. Denom. $1 000, except one bond of $300. Due
$1.000 yearly Aug. 1 from 1912 to 1919, incl., $2,000 Aug, 1 1920
and $1,300 Aug. 1 1921.
9,000 Wilson St. paving assess. bonds. Auth. Sec. 3888, 3914, 3918.
3919 and 3920, Gen. Code. Denom. $1,000. Due $1,000 yearly
Aug. 1 from 1912 to 1920, incl.
1,620 Granville St. sewer assess. bonds. Auth. Sec. 3914, 3918, 3919
and 3920, Gen. Code. Denom. $500, except one bond of $620.
Due $500 Aug. 1 1914 and 1915 and 3820 Aug. 1 1916
880 sidewalk construction assess. bonds. Auth. Sec. 3865, 3918, 3919
and 3920, Gen. Code. Due Aug. 1 1915.
Date Aug. 1 1911. Int. F. & A.
Bonds to be paid for within 10 days from time of award. Cert. check on
a reputable bank for 10% of bonds bid for, payable to the "City of Newark,"
required.
NEWBURGH (P. 0. Cleveland), Cuyahoga County, Ohio.-Bond Offering.-Proposals will be received until 12 m. Sept. 23 by Roy A Wood,
City Auditor, for the following 43.4% assessment bonds:
$15,524 Union Ave. S. E. water-main-constr. bonds. Denom. $1,000 and
$524. Due on Oct. 1 as follows: $1,524 in 1912, $2,000 in 1913,
$2,000 in 1914, $1,000 in 1915, $2,000 in 1916 and 1917, $1,000 in
1918, $2,000 in 1919, $1,000 in 1920 and $2,000 in 1921.
9,096 Kinsman Road S. E. sewer-main-constr. bonds. Dcnom. $1,096
and $1,000. Due $1,096 Oct. 1 1912 and $2,000 yearly Oct. 1
from 1913 to 1916 incl.
Date "day of sale." Int. A. & 0. at the Superior Savings Bank &
Trust Co. in Cleveland. Bonds to be delivered and paid for within 10 days
from time of award. Cert, check for 5% of bonds bid for required. Purch.
to pay accrued int. Separate bids must be entered for each issue.
NEV CASTLE COUNTY (P. 0. Wilmington), Del.-Bond Offering.Proposals will be received until 12 m. Aug. 29 by D. Thompson, Chairman
Finance Committee, for $95,000 4% gold coup. highway-impt. bonds.
Denom. $1,000. Date July 1 1911. Int. J. & J. at the Farmers' Bank in
Wilmington. Due $15,000 yrly. July 1 from 1945 to 1949 incl. and $10,000
July 1 in 1950 and 1951. Bonds are exempt from all taxation and to be
delivered Sept. 5 1911. Cert. check for 2% of bonds bid for, payable to
the Co. Treas., required. The bonds will be certified as to genuineness by
the Columbia Trust Co. of New York, and the legality of this issue will be
examined by Caldwell, Masslich & Reed of New York, whose favorable
opinion will be furnished to the purchaser.
NEW LONDON, Henry County, Iowa.-Bonds Offered by Bankers.-The
II. T. Holtz & Co. of Chicago is offering to investors an issue of $9,000 5%
lighting bonds. Denom. $500. Date May 1 1911. Int. M. & N. at the
Treas. office. Due $500 each six months from May 1 1919 to May 1 1927,
incl. Total bond debt $13,000. Taxable val., $265,358. Actual val.
(est:), $1,061.
NEWNAN. Coweta County, Oa.-Bond Offering -Proposals will be received until 10 a. m. Sept. 11 by T. M. Goodrum, Chairman Finance Committee, for $50,000 5% str.-Impt. bonds. Denom. $1,000. Int. payable
in New York or at the City Treas. office. Due $3,000 yrly. July 1 from
1930 to 1935 incl. and $8,000 on July 1 in 1936, 1938, 1939 and 1940.
NEWPORT, Campbell County, Ky.-Bond Sole.-On Aug. 23 the
8100,000 4% 30-year coup. street-impt. bonds (V. 93, p. 486) were awarded
to the Newport Nat. Bank for $100,801 50 (100.80) and int. A bid of par
less $1,250 for attorney's fees was received from the Provident Say. Bank
& Trust Co. of Cincinnati and a bid of par and int. was also received from
the German Nat. Bank in Newport.
NOCONA. Montague County, Tex.-Bond Sale.-Reports state that the
$17,500 5% 20-40-yr. gold coup. water-works bonds registered on July 27
by the State Comptroller (V. 93. p. 363) were recently sold at par. Denom.
$500. Date July 1 1911. Int. J. & J. at the Chase Nat. Bank in N. Y.
NORMAL, McLean County, III.-Bonds Voted.-The proposition to issue
$60,000 sch.-bldg. bonds carried, reports state, by a vote of 265 to 132 at
the election held recently.
NORTH ANDOVER, Essex County, Mass.-Band Offering.-Proposals
will be received until 8 p. m. Aug. 28 by G. H. Perkins, Town Treas., for
$26,000 4% Coup. Bradstreet School-loan bonds. Denom. $1,000. Date
June 1 1911, Int. J. & D. at the Winthrop Nat. Bank of Boston. Due
$2,000 yrly. June 1 from 1912 to 1924 incl. Bonds are exempt from taxation in Massachusetts and will be certified as to their genuineness by the
Old Colony Trust Co. of Boston, which will further certify that their legality
has been approved by Storey, Thorndike, Palmer & Dodge of Boston, a
copy of whose opinion will accompany the bonds when delivered, without
charge to the purchaser.
NORWOOD, Norfolk County, Mass.-Bond Offering.-Proposals will
be received until 8 p. m. Aug. 30 by the Treas., it is reported for $80,000
4% water bonds. Date Sept. 1 1911. Int. ann. Due $4,000 yrly. from
1913 to 1932, incl.
OCEANSIDE, San Diego County, Cal.-Bond Election.-An election
will be held Sept. 8, it is stated, to vote on the proposition to Issue the
$15,000 high-school bonds (V. 92, p. 1716). • • • • • • • • • • • • •
t0
ONEIDA. Madison County. N. Y.-Bond Sale.-On Aug. 23 the$43,000
414% 15-year (ay.) reg. school bonds (V.93, p. 425) were awarded
is City Clerk.
Rhoades & Co. of New York City at 100.7313. Other bids follow:
100.558 Isaac W. Sherrill, Poughk100.17
7'he official notice of this bond offering will be found among the advertise- Biodget & Co., N V
E. H. Rollins & Sons, N. Y_100.447 Harris, Forbes & Co., N. Y_100.081
ments elsewhere in this Department.
100
W. N. Coier & Co., N. Y_ __ _100.25 Oneida Savings Bank
MOUNT VERNON INDEPENDENT SCHOOL DISTRICT (P. 0. Mount
• ORANGE COUNTY (P. 0. Goshen), N. Y.-Bond Sale.-On Aug. 21
Vernon), Linn County, la.-Bond Sale.-On Aug. 115 the $19,390 5% the $23,000 454% coup. hospital bonds (V. 93, p. 487) were awarded to
10-yr. bldg. bonds (V. 93, p. 362) were awarded to G. M. Bechtel & Co. Ferris & White of New York at 100.40 and int. Other bids follow:
of Davenport. Bids were also received from J. P. O'Brien of Boston. Parson, Son & Co., N. Y_ _ _ _100.355 Douglas Fenwick & Co., N.Y.1.00.17
00.25
Cutter. May & Co., C. II. Coffin, Coffin & Crawford, Hanchett Bond Co., Newburgh Savings Bank,
John J. Hart, Albany
Continental & Commercial Trust & Savings Bank of Chicago.
100.280 Harris, Forbes & Co., N. Y_ _100.092
Newburgh
MUSKEGON, Muskegon County, Mich.-Bond Offering.-Further deOREGON CITY, Clackamas County, Ore.-Bond Sale.-Local papers
tails arc at hand relative to the offering on Aug. 28 of the $300,000 4% state
that on Aug. 11 an issue of street-impt bonds amounting to more
coup. water-works bonds (V. 93, p. 486). Proposals for these bonds will than $21,000 was awarded to the Bank of Oregon City.
be received until 5 p. m. on that day by the City Recorder. Denom.
Oswego County, N. Y.-Bid.-The highest bid received for
OSWEGO,
$10,000
yrly.
Due
Jan.
1
incl.
to
1944
J.
from 1915
$1,000. Int. J. &
the $45,000 434% 534-year (ay.) reg. school bonds (V. 93, p. 425) was
Bonds are exempt from taxation. Cert. check for $500 required.
arson, Son & Co. of New York. Papers state,
,
'
101.214, received from
by
Purchased
State.
-The State last month pur- however, that the award of the bonds will not be made until their legality
NEBRASKA.-Bonds
passed upon by this firm.
chased the following bonds, aggregating $220,267 25:
been
has
$20,000 00 5% school-house bonds of Antelope County Sch. Dist, No. 11
OXFORD SCHOOL DISTRICT (P. 0. Oxford), Butler County, Ohio.
at par. Date Mch. 1 1911. Due Melt. 1 1931, subject to
•
Bond Sale.-On Aug. 21 the $6,500 434% 1634-year (ay.) coup. heating,
call at any int. date.
•
93,
p.
(V.
487)
bonds
were
Provident
the
to
awarded
sanitary
City
at
Beaver
lighting
par.
of
and
Sept.
1
Date
bonds
1909.
• 7,000 00 5% water
Savings & Trust Co. of Cincinnati for $6,784 70-making the price 104.38Due Sept. 1 1929, opt. after Sept. 1 1919.
•
follow:
20,000 00 5% bonds of Chadron School District on a 4 34% basis. Date a basis of about 4.15%. Other bids
11931,
July
opt.
Davies-Bertram Co., Cinc_36,736 00 First Nat. Bk., Columbus_$6,641 00
after July 1 1921.
July 11911. Due
•
00 f Stacy & Braun, Toledo._ _ _ _ 6,626 10
21,000 00 5% water bonds of Crawford at par. Date July 1 1911. Due Seasongood & Mayer, Cinc_ 6,733 001
Weil, Roth &;Co., Cinc____ 8,673
July 1 1931. Sale previously reported in V 93, p. 484.
•
$2,000 yearly Mch. 1 from 1913 to 1922 incl. Bonds are exempt from all
taxation. A deposit in cash, bank draft or certified check on a bank or
trust company of New York for 2% of bonds bid for required.
MILLERSBURG, Dauphin County, Pa.-Bond Election.-An election is
being held in this place to-day (Aug. 26) for the purpose of presenting to
the voters a proposition to issue $6,000 paving bonds, according to reports.
MILLIKIN, Weld County, Colo.-Bonds Voted.-Local papers state
that the question of issuing $15,000 water bonds (V. 93. p. 304) carried by
a vote of 16 to 9 at the election held Aug. 15.
MINNESOTA.-Bonds Purchased by State -During the month of July
the State purchased the following 58 issues of 4% bonds, aggregating
$406,422, at par:
Amount. Purpose. Date of Bonds.
Place Issuing BondsJuly 25 1011
Ditch
$6,991
Aitkin County Ditch No. 13
July 25 1911
School
Albert Lea Sch. Dist., Freeborn County_ _33,000
July 6 1911
Municipal
2,000
Alvwood, Itasca County
July 11 1911
School
2,000
Anoka County Sch. Dist. No. 65
July 6 1911
do
6,000
Bemidji, 13eltrami County
July 15 1911
School
Blue Earth County Sch. Dist. No. 72_ _ _ _ 1,800
15,000 Municipal July 6 1911
Caledonia, Houston County
July G 1911
School
(6,000
78
No.
Dist.
Carver County Sch.
16,000
July 25 1911
do
July 11 1911
do
300
Chisago County Sell. Dist. No. 56
July 25 1911
10,000
Municipal
Clara City, Chippewa County_
July 25 1911
School
Cottonwood County Sch. Dist. No. 6_ _ _ _20,000
600
July 25 1911
do
Crow Wing County Sch. Dist. No. 85_ _ _ _
do
1,100
July 25 1911
Crow Wing County Sch. Dist. No. 105
20,000 Municipal July 25 1911
Dodge Center, Dodge County
15,000
July 6 1911
do
28
No.
Dist.
.
Sch
Dodge County
29,000
July 25 1911
Ditch
Faribault County Ditch No. 8
12,000
July 25 1911
do
Faribault County 1)Itch No. 9
90
July 15 1911
1,500
No.
School
Dist.
Sch.
Faribault County
July 3 1911
School
12,000
Fillmore County Sch. Dist. No. 112
July 15 1911
18,000
do
5,000 Municipal July 25 1911
Hastings, Dakota County
July 25 1911
2,000
School
Hubbard County Sch. Dist. No. 43
1,000
July 6 1911
Isanti County Sch. Dist. No. 36
14:431
July 25 1911
Ditcho
Kittson County Ditch No. 18
July 11 1911
School
Lac Qui Parte County Sch. Dist. No. 92_ 6,000
July 11 1911
do
Lac Qui Patio County Sch. Dist. No. 41_ _ 1,800
10,000
July 11 1911
do
Le Sucur County Sch. Dist. No. 1
10,000
July 15 1911
do
Lyon County Sch. Dist. No. 47
2,000
July 6 1911
do
Meeker County Sch. Dist. No. 42
600
July 25 1911
do
Mille Lac County Sch. Dist. No. 28
900
July 11 1911
do
Morrison County Sch. Dist. No. 135
600
July 11 1911
do
Morrison County Sch. Dist. No. 132
9,900
July 25 1911
do
Mower County Sch. Dist. No. 90
4,500
July 25 1911
do
Norman County Sch. Dist. No. 59
1,200
July 25 1911
do
Norman County Sch. Dist. No. 95
4,200 Municipal July 25 1911
North Branch, Chisago County
20,000
July 6 1911
School
Olmsted County Sch. Dist. No. 8
1,500
July 15 1011
do
Polk County Sch. Dist. No. 280
12,000 Municipal July 1 1911
Preston, Fillmore County
1,000
July 11 1911
School
Renville County Sch. Dist. No. 92
July 15 1911
(5,000
do
Roseau County Sch. Dist. No. 12
July 15 1911
do
12,500
July 25 1911
do
3,800
Roseau County Sch. Dist. No. 76
July 11 1911
do
9,000
St. Louis County Sch. Dist. No. 50
July 11 1911
St. Louis County Sch. Dist. No. 75
do
,r
4,000 Municipal July 25 1911
St. Vincent, Kittson County
July 15 1911
School
Stearns-Pope County Sch. Dist. No. 145_12,000
July 11 1911
do
12,000
Stearns County Sch. Dist. No. 80
July 25 1911
Ditch
10,900
Stevens County Ditch No. 10
July 25 1911
School
700
Todd County Sch. Dist. No. 105
July 15 1911
do
1,200
Todd County Sch. Dist. No. 153
July 25 1911
do
2,500
Traverse County Sch. Dist. No. 32
July 25 1911
Ditch
6,200
Wilitin County Ditch No. 5
July 25 1911
do
2,100
Willtin County Ditch No. 11
July 25 1911
School
14,000
Wlikin County Sch. Dist. No. 71
600 Municipal July 25 1911
Wenger Twp., Polk County
July 11 1911
School
Yellow Medicine County Sch. Dist. No. 32 1,500
MONROE COUNTY (P. 0. Paris). Mo.-Bond Ejection -This county on
Sept. 12 will hold an election, It is stated, to vote on the question of issuing
court-house bonds.
MONROE SCHOOL DISTRICT, Merced County. Cal.-Description of
Bonds.-The $3,000 6% bonds recently awarded to the Wm. R. Staats Co.
of Pasadena at 100.40 (V. 93, p. 486) are in the denom. of $500 and bear
tile date of Sept. 1 1911. Int. Sept. at the Co. Treas. office at Merced.
Due $500 yearly Sept. 1 from 1912 to 1917 incl. No debt at present. Real
value (est.), $300,000; assessment value, $156,615.
MONTAGUE, Mich.-Bonds Defeated.-The question of issuing $4,000
paving bonds was defeated on Aug. 7.
MONTGOMERY SCHOOL DISTRICT, Sonoma County, Cal.-Bond Sale.
-On Aug. 10 an issue of $1,000 6% 1-10-yr. school bonds was awarded to
the Santa Rosa Bank in Santa Rosa at par. Denom. $100. Date Sept. 1
1911. Interest September.
MOUND VALLEY, Labette County, Kan.-Bonds Voted.-The voters
at the election held in this city Aug. 15 (V. 93, p. 245) authorized the issuance of $25,000 water-works bonds, it is stated.
MOUNT 01 LEAD, Morrow County, Ohio.-Bond Offering.-Proposals
will be received until 12 in. Sept. 1 by W. F. Wieland, VII. Clerk, for the
following 5% bonds:
$1,625 sewer-extension (village's portion) bonds. Denom. $325. Due
$325 yearly Jan. 10 from 1912 to 1916 incl.
400 sewer-extension bonds. Auth. Sec. 1536-210 Municipal Code.
Denom. $80. Due $80 yearly Jan. 10 from 1912 to 1920 incl.
& J. Bids to be unconditional. Cert.
Date Jan. 10 1011. Int.
J. required. Purchaser to pay accrued int.
check on a local bank for $200
Bidders must satisfy themselves as to the legality of the bonds.
MOUNT PLEASANT. Maury County, Tenn.-Bonds Voted.-The election held Aug. 16 resulted in favor of the question of issuing $10,000 school
bonds. The vote was 180 to 70.
MOUNT VERNON, Westchester County, N. Y.-Bond Offering.-Proposals will be received until 8 p. m. Sept. 5 by the Common Council for
$40,000 434% West Lincoln Ave. repaving bonds. Denom. $1,000.
Date Sept. 1 1911. Int. M. do S. at the City Treas. office. Due Sept. 1
1931. Cert. check for $1,000 required. Bonds will be delivered on or
before Sept. 12 1011 and will be certified as to their genuineness by the
United States Mortgage & Trust Co. of New York and their legality approved by Caldwell, Masslich & Reed of New York, whose opinion will be
furnished to the purchaser. Edwin W. Fiske is Mayor and Peter Collins
550
THE CHRONICLE
VoL. LXXXXIII.
OZARK. Dale County, Ala.-Bond Offering.-Proposals will be received
SANDUSKY, Erie County, Ohio.-Bond Sale.-The three issues of 4%
until Sept. 7 for $15,000 5% sewer bonds. Date July 15 1911. These 9-year coupon street (city's portion) bonds offered
on Aug. 21 (V. 93. 1).
bonds were offered on Aug. 17 (V. 93, p. 363) but not sold.
363) have been awarded to the Citiezns' Banking Co. of Sandusky. The
PADUCAH, Cottle County. Tex.-Bonds Voted.-The proposition to bids follow:
Issue the $27,000 5% 10-40-yr. (opt.) water-works bonds (V. 93. p. 305)
$15,000
$6,500
Huron Ave.
carried by a vote of 79 to 6 at the election held Aug. 14. Int. semi-annual.
St.
Taylor St. Jackson
$
Bond Election.-An election will be held Aug. 26 (date changed from Citizens' Banking Co., Sandusky_ _ _$15,075 00
$6,532 50
$4,522 50
Aug. 14) to allow the voters to decide whether or not the $10,000 street Third Nat. Ex. Bank, Sandusky___ 15,056 55
6,525 40
4,517 30
Commercial Nat. Bank, Sandusky__ 15,015 00
bonds (V. 93, p. 305) shall be issued.
6,510 00
4,505 00
American Banking & Tr.
Sand_
4,510 00
PALO PINTO COUNTY (P. 0. Palo Pinto), Tex.-Bond Election PetiCo.,14,800 00
6.405 00
4,420 00
tioned.-Papers state that the citizens have petitioned the Commissioners, Well, Roth 40 Co.. Cincinnati
Court to call an election to vote on the question of issuing $300,000 road bds
SAND USKY COUNTY (P. 0. Fremont), Ohlo.-Bond 0 fering.-ProPAYETTE, Canyon County, Idaho.-Bonds Voted.-The election held posals will be received until 12 m. Sept. 2 by the Bd. of Co. Comm'rs for
Aug. 8 resulted In favor of the propositions to issue $14,000 city-hall and $2,400 44% Blasey Joint Ditch bonds. Authority Sees. 2294 and 6492,
$7,000 bridge 10-20-yr. (opt.) bonds at not exceeding 6% int. The vote Gen. Code. Denom. $400. Date Sept. 1 1911. Int. M. & S. at the Co.
Treas. office. Due $800 Sept. 1 1912 and $400 Mch. 1 and Sept. 1 in 1913
was 444 to 15 for bridge bonds and 370 to 75 for city-hall bonds.
and 1914. Cert, check on a bank in Fremont for $100, payable to the
PEEKSKILL, Westchester County, N. Y.-Bond Offering.-Proposals Bd. of Co. Comm'rs, required.
will be received on or before 12 m. Sept. 7 by L. G. Roake, Supt. Bd. of
SAN GABRIEL SCHOOL DISTRICT, Los Angeles County, Cal.-Bond
Water Commrs., for the $95,000 water bonds voted July 3 (V. 93, p. 122) Sale.-N.
W. Halsey de Co. of San Francisco have been awarded, it is
at not exceeding 5% Int. Denom. $1,000. Date Oct. 2 1911. Int. A.&0* stated, the $20,000 bonds (V. 92, p. 1717) at 104.87.
Due Oct. 2 1941. Cert. check on a State or national bank for $500, payable
SAN PATRICIO COUNTY COMMON SCHOOL DISTRICT NO. 5, Tex.
Bonds Not Sold.-We are advised that the $12,000 5% 40-yr. bldg. bonds
to the Bd. of Water Commrs., required.
registered by the State Comptroller on July 3 (V. 93, p. 185) were not sold.
The official notice of this bond offering will be found among the advertiseSANTA ROSA SCHOOL DISTRICT (P.0. Santa Rosa), Sonoma County.
ments elsewhere in this Department.
Cal.-Bond Offering.-Proposals will be received, it is stated, until Aug. 29
PELHAM MANOR, Westchester County, N. Y.-Bond Offering.-Pro- for the $80,000 5% 40-year bldg. bonds voted July 22. V. 93, p. 364.
posals will be received until 8:30 p. m. Aug. 31 by W. P. Brown, Chairman
SAUK LOPIDS SCHOOL DISTRICT (P. 0. Sauk Rapids). Benton
Village Trustees, it is stated, for $10,000 sewer bonds at not exceeding 5%. County, Minn.-Bond Sale.-An issue of $16,000 bonds
has been sold
Denom. $1,000. Date Sept. 1 1911. Int. payable at Central Trust Co., to the State.
•
N. Y. Due $1,000 yearly from Sept. 1 1916 to 1925 incl. Cert. check
SAVANNAH
SCHOOL
DISTRICT
Savannah),
(P.
0.
Andrew
County.
for 5% of bid is required.
Mo.-Bond Offering.-Proposals will be received until 11 a. m. Oct. 2 for
PEMBERTON SCHOOL DISTRICT (P. 0. Pemberton). Burlington $20,000 5% library and sch.-bldg. bonds. Auth., vote of 245 to 80 at an
County. N. J.-Bond Sale.-We are advised by the District Clerk that an election Aug. 8. Due $1,000 yrly. Feb. 1 from 1913 to 1932 incl.
issue of $32,500 high-sch. bldg. bonds has been sold to the State Sch. Fund.
SCOTLAND NECK GRADED SCHOOL DISTRICT (P. 0. Scotland
PERRIN SCHOOL DISTRICT, Fresno County. Cal.-Bond Offering.- Neck). Halifax County, No, Caro.-Bond Offering.-Proposals will
be reProposals will be received until 2 p. m. Sept. 5 by the Bd. of Supervisors ceived until 12 m. Sept. 18 by the Bd. of Trustees, A. L. Purrington,
(P. 0. Fresno) for $2,500 6% sch.-ioldg. bonds. Authority, Secs. 1885 and for $3,000 6% school bonds. Denom. $500. Date Sept. 18 1911. Sec.,
Int.
1886 and other sections pertaining thereto of Political Code. Denom. $500. Sept. Due part yearly on Sept. 18 from 1921 to 1927 incl.
Date Aug. 11 1911. Int. Aug. Due $500 yrly. on Aug. 11 from 1012 to
FALLS,
SIOUX
Minnehaha
County,
So.
Dak.-Bond
Election.-Propo1916 incl. Cert. check for $100, payable to the Chairman Bd. of Super- sitions to
issue $200,000 sewerage-system and $100,000 water-works bonds
visors, required. D. M. Barnwell is Clerk.
will be submitted to a vote, reports state, on Sept. 26.
PERRY SCHOOL DISTRICT (P. 0. Perry), Lake County, Ohio.-Bonds
SKAGIT COUNTY (P. 0. Mount Vernon), Wash.-Bonds Refused.Defeated.-The proposition to issue the $35,000 school-bldg. bonds (V. 93, Local
papers state that the $100,000 road bonds awarded to N. W. Halsey
p. 363) was defeated on Aug. 21, it is stated.
& Co. of Chicago on Feb. 7 (V. 92, p. 486), were refused by that firm,
and
PITTSBURG. Kan.-Bond Sale.-On Aug. 16 $225,000 4% 30-yr. also by a Seattle company to whom they were sold at private sale.
bonds to purchase the plant of the Pittsburgh Water Supply Co. (V. 93,
SOUTH CHARLESTON, Clark County, Ohio.-Bond Sale.-On Aug. 22
p. 423) were awarded to F. C. Werner for $225,100-making the price the
$2,300 5% coup. street-impt. bonds (V. 03, p. 864) were awarded to
100.044. Denom. $1,000. Date Oct. 1 1911. Int. A. & 0.
F. B. Houston of South Charleston for $2,394 (104.086) and int. Other
PLATTE, Charles Mix County So. Dak.-Bonds Proposed.-The Citi bids were:
Council, it is stated, propose issuing $14,000 refunding bonds.
S.B. Rankin,S.Charleston.$2,393 50 New First Nat. Bank of
PLEASANT RIDGE, Hamilton County, Ohio.-Bond Sale.-On Aug. 16 Sec. Say. Bk.&Tr.Co., Tol. 2,350 001 Columbus
$2,347 00
the $2,000 4% 30-yr. street-impt. (village's portion) bonds (V. 93, p. 363)
SPOKANE, Wash.-Bond Offering.-Proposals will be received until
were awarded to the Provident Say. Bk. & Tr. Co. In Cincinnati for $2,010
12 in. Sept. 11 (date changed from Oct. 11) by James McGougan, City Aud.,
(100.50) and int. Other bids follow:
Atlas Nat. Bk., Cincinnati_$2,002 501Seasongood & Mayer, C1n_..$2,000 00 for $700,000 refunding gen. mun. and $500.000 ref. water gold bonds at
PORTLAND, Ore.-Bond Offering.-Proposals will be received. It is not exceeding 5% int. Denom. $1,000. Date Oct. 11911.
Int. A. & 0.
stated, until Sept. 1 for $50,000 414% dock bonds. Denom. $1,000. Due
Due in 20 years. Cert, check for 2% of bid is required. The bonds are to
50 yrs., subject to call at interest date after 30 yrs.
refund
a
like
successful
amount
due
Oct.
bidder
1
The
1911.
must
deposit
PRAIRIEBURG. Linn County, Iowa.-Bond Election.-An election will
be held Sept. 28 to vote on the question of issuing $5,000 5% water-works the purchase price with the fiscal agency of the State of Washington in
bonds. These bonds were to have been sold Aug. 21, but an error was dis- New York and authorize said agency, as trustee, to pay and cancel
the
outcovered in the proceedings. V. 93, p. 487.
standing bonds, and as fast as said outstanding bonds are paid and canceled
PUEBLO, Pueblo County, Colo.-Mayor's Veto Not Sustained.-The
ordinance providing for the issuance of $250,000 filtration-plant bonds to deliver to the purchaser refunding bonds to an amount equal to the canvetoed by the Mayor on Aug. 3 (V. 93, p. 487) was subsequently passed by celed bonds. Bids must contain statement of acceptance of above condition.
Council over his veto. We are also advised that suit has been started to
The official notice of this bond offering will be found among the advertiseprevent the construction of a filter plant, the hearing on a pending injuncments elsewhere in this Department.
tion to take place Sept. 19.
PUTNAM COUNTY (P. 0. Unionville), Mo.-Band Offering.-Proposals
STANTON, Montcalm County, Mich.-Bond Offering.-Proposals will
will be received until 3 p. m. Sept. 12 by C. W. Mullentx, Co. Treas., for the be received until 12 m. Aug. 31 by Clyde H. Lee, City Clerk, for $4,500
$8,000 5% hospital bonds (V. 92, p. 1658). Denom. $500. Int. semi-ann. water and $5,500 light 4% bonds. Authority election held Aug. 14.
at the Co Treas. office. Due 5 yrs., opt. after 2 yrs. Cert. check for $300 Denom. $1,000. Int. semi-ann. Due (water bonds) $1,000 yearly Jan. 1
required.
from 1918 to 1921 incl. and $500 Jan. 1 1922; (light bonds) *1,000 yearly
RAINIER, Columbia County, Ore.-Bonds Not Sold.-We are advised Jan. 1 from 1924 to 1928 incl. and $500 Jan. 1 1929. Bonds are exempt
from all taxation in Michigan. Unconditional certified check for 1% of
that no sale was made on Aug. 7 of an issue of $13,500 bonds.
bonds bid for, payable to toe City Treasurer, required.
RAMAPO UNION FREE SCHOOL DISTRICT NO. 3 (P. O. Suffern)
STILLWATER. Payne County, Okla.-Bonds Voted.-This place reRockland County. N. V.-Bond Sale.-On Aug. 22 $60.000 5-34-yr. (ser.)
school bonds were awarded to Harris, Forbes & Co. of New York at cently voted to issue, it is stated, $15,000 water-works extension bonds.
100.391 and Int. for 4.358. Other bids follow:
STRATTON SCHOOL DISTRICT, Kings County, Cal.-Description of
Ferris & White, New York
for 4.35s $60,180 Bonds.-The $9,000 bonds awarded on Aug. 7 to the Wm. R. Staats Co.
Douglas Fenwick & Co., New York
for 4.35s 60,078 of Pasadena at 103.638 (V.93, p. 488) bear int. at 6% and are in the denom.
A. B. Leach & Co., New York
for 4.35s 60,060 of $1.000. Date July 14 1911. Int. J. & J. at the Co. Treas. office at
Parkinson & Burr, New York
for 4.35s 60,027 Hanford. Due $1,000 yearly July 14 from 1915 to 1923 incl. Total debt,
W. N. Coler & Co., New York
for 4.40s 60,105 incl. this Issue, $10,500. Real value (est.), $500,000; assess. val., $217,192.
G. M. Hahn, New York
for 4.40s 60,071
SULLIVAN SCHOOL DISTRICT (P. 0. Sullivan), Moultrie County. III.
Adams & Co.. New York
for 4.40s 60,063
4 A% bldg. bonds was awarded to the
Parson Son & Co.. New York
for 4 48 60,075 -Bond Sale.-An issue of $15,000
Nat. Bank in Chicago at par and int. Denom. $500. Date July 1
Suffern NatIonal Bank, Suffern
for 4 4s 60,000 First
Denom. 31,000. Date Sept. 1 1911. Int. in Sept. at the Suffern Nat. 1911. Int. Apr. Due from 1913 to 1023.
SWEETWATER, Nolan County, Tex.-Bonds Voted.-On Aug. 15 thls
Bank of Suffern.
RAVVILLE, Richland Parish, La.-Bond Election.-An election will be city voted favorably to issue $35,000 paying bonds, according to reports.
held in this town, it is stated, to vote on the question of issuing 40-yr. waterTENSMUIR SCHOOL DISTRICT, Kings County. Cal.-Description of
works bonds.
Bonds.-The $6,000 bonds awarded on Aug. 7 to the Wm. R. Staats Co. of
READING, Middlesex County, Mass.-Bond Sale.-On Aug. 23 $12,000 Los Angeles at par and int. (V. 93, p. 488) bear 5% int, and are for general
4% coup. bonds were awarded to Blake Bros. & Co. of Boston at 100.810. school purposes. Denom. $1,000. Date July 3 1911. Int. annually
at the Co. Treas. office in Hanford. Due $1,000 yearly on July 3 1912 to
There were no other bidders.
1017, incl. The dist. has no other debt. Assessed val., $359,420; real
READING (P. 0. Cincinnati). Ohio.-Bond Election.-An election will val. (est.), $750,000.
be held soon, according to reports, to vote on the question of issuing the
TERRE HAUTE, Vigo County, Ind.-Bond Sale.-On Aug. 23 $65,000
$20,000 sewerage-system-construction bonds mentioned in V. 93, p. 122.
4% sewer bonds were awarded to the Marlon Trust Co.. in Indianapolis for
RED RIVER PARISH SCHOOL DISTRICT NO. 1 (P. 0. Coushatta).
103.745-a basis of about 3.72%. Denom.
La.-Bond Sale.-The $25,000 5% 5-30-yr. (ser.) gold coup. bldg. bonds, $67,435, making the price
Date Sept. 1 1911. Due 20 years. Other bids follow:
bids for which were rejected on June 15 (V. 92, p. 1717) were awarded on $1,000.
U.S. Tr. Co., Terre Haute_ $66,049 75 Wild & Co.,Indianapolis.$65,675 00
July 21 to the Inter-State Trust & Banking Co. of New Orleans at par 40 int. Miller,
Adams & Co., Ind_ 65,856 001Campbell, Sons & Co.,Ind. 65,607 00
RICE COMMON SCHOOL DISTRICT (P.0. Rice), Navarro County, Tex.
TERRELL, Kaufman County. Tex.-Bonds Registered.-The $12,000
-Bond Offering.-The School Board, T. W. Neal, Sec., is offering for sale water-works
and $10,000 strect-impt. 5% 15-40-yr. (opt.) bonds (V. 92,
an issue of $16,000 5% school-house bonds. Int. In April at the State p. 1588) were registered
by the State Comptroller on Aug. 17.
Treasury in Austin. Due 1951, opt. after 20 yrs.
TETON
COUNTY
SCHOOL DISTRICT NO. 17 (P. 0. Sweet Grass),
ROBERTSON COUNTY COMMON SCHOOL DISTRICT NO. 5. Tex.- Mont.-Bond Sale.-The
$7,500 6% 10-15-year (opt.) coup. bldg. bonds
Bonds Registered.-An issue of $1,000 5% 5-10-yr. (opt.) bldg. bonds was offered on July 15 (V. 93, p.
125) were awarded, we have just been advised,
registered by the State Comptroller on Aug. 17.
to Johnson & Gary of Sweet Grass at par and int. A bid was also received
ROCK ISLAND INDEPENDENT SCHOOL DISTRICT NO. 33 (P. 0. from J. H. Causey & Co. of Denver.
'
Rock Island), Colorado County. Tex.-Bonds Not Sold.-No sale has been
COUNTY (P. 0. luka), Miss.-Bond Sale.-This county
made of the $10,000 5% 5-40-year (opt.) bonds offered on June 24. V. onTISHOMINGO
Aug. 10 sold $35,000 road bonds.
92, p. 1658.
TOLEDO, Ohio.-Bonds Refused.-Papers state that Hayden, Miller &
ROCKLAND, Plymouth County, Mass.-Bond Sale.-We learn that Co.
of Cleveland have refused the $150,000 4% bridge bonds awarded to
an issue of $12,000 4% 1-12-yr. (ser.) school-house bonds was awarded on them
on June 21, V. 92, p. 1717.
Aug. 19 to E. M. Farnsworth & Co. of Boston at 101.73. Denom. $1,000.
VANDERBURG COUNTY (P. 0. Evansville), Ind.
Date July 1 1911. Int. J. &J.
-Bond Sale.--On
Aug.
15 $8,000 4 4% 10-year gravel-road bonds were awarded to the
ROLLINS SCHOOL DISTRICT (P.O. Rollins), Flathead County, Mont.
-Bond Election.-A vote will be cast on Sept. 2 on the proposition to issue Mercantile Trust 40 Savings Bank of Evansville at 100.10. Denoin. $400.
Date Aug. 1 1911, Int. M. & N.
$2,500 6% 10-20-yr. (opt.) bldg. bonds.
TRACY. San Joaquin County, Cal.-Bond Offering.-Proposals will be
SABINE PARISH SCHOOL DISTRICT (P. 0. Many), La.-Bond Offer- received,
it is stated, until 8 p. m. Aug. 31 by (1. Youngblood, City Clerk,
ing.-Proposals will be received by W. S. Mitchell, Sec. and Supt., for
$15,000 5% Pleasant Hill School District bonds dated July 1 1911. Denom. for $50,000 1-30-yr. sewer bonds. Certified check for 5% required.
$500. Due on July 1, $500 in 1912 and 1913, $1,000 yrly. 1914 to 1924
WALNUT CREEK SCHOOL DISTRICT, Contra Costa County, Cal.
Bond Sale.-On Aug. 7 $20,000 5% building bonds were awarded to B. Ferincl. and $1,500 in 1925 and 1926.
Proposals will also be received for $2,800 5% Florien School District bds. nandez at 103.75. The bids received follow:
Bids will be opened not later than Sept. 9, but if enough bids are In by B. Fernandez
$20,750 Win. R.Staats Co. Los Ang_$20,322
Sept. 2 they will be opened on that day.
E. H. Rollins & Sons, San Fr. 20,402 First Nat. Bk. Contra C. Co.. 20,226
SALEM SCHOOL DISTRICT (P. 0. Salem), Roanoke County. Va.- J. H. Adams & Co., Los Ang_ 20,391 G. G. Blynwer, San Fran_ __ 20,038
Denom. $1,000. Date Aug. 7 1011. Int. F. & A. Due 1 to 20 years.
Bond Sale.-On Aug. 20 the $17,000 5% 15-20-yr. (opt.) coup. school
bonds (V.93, p. 426) were awarded to Cutter. May ec Co. of Chicago. Bids
WALWORTH COUNTY (P.0. Selby), So. Dak.-Bond Sale.-On Aug.15
were also received from the following: S A. Kean & Co., C. II. Coffin, $55,000 5% court-house and jail bonds were awarded to Cutter, May &Co.
John Nuveen & Co. of Chicago, Well, Roth F6 Co. of Cincinnati and A. J. of Chicago for $56,963 54, making the price 103.57-a basis of about 4.20%
Hood & Co. of Detroit.
to the opt. date and about 4.7234% to full maturity. Other bids follow:
551
THE CHRONICLE
AUG. 26 1911.]
Chicago..__$55,412 50
S. A. Kean do Co. of Chie.$56,457 50 McCoy do Co., Co., Chic_ 55,275 00
&
Coffin & Crawford, Chic_ 55,715 00 John Nuveen
Wells & Dickey, Minn_ 55,275 00
Woodln, McNear & Moore,
55,600 00 C. H. Coffin, Chicago__ 55,101 00
Chicago
A. J. Hood do Co., Detroit 55,560 00
Sept. 1 1931,
Denom. $1,000. Date Sept. 1 1911. Int. M. do S. Due
optional after 5 years.
Aug. 24 $20,000
WARREN, Trumbull County, Ohio.-Bond Sale.-On reports state, to
4 A% 22-yr. (aver.) Packard Park bonds were awarded,
at 106.
the Provident Savings Bank do Trust Co. of Cincinnati
County, No. Caro.WARSAW TOWNSHIP (P. 0. Warsaw), Duplin bonds
offered without
Bonds Awarded in Part.-Of the $20,000 31-yr. road to
Well, Roth & Co. of
awarded
been
success on July 21 as 5s,$10,000 have
Cincinnati at 100.60.
d Sale.-The $5,000 5%
WEST ALLIS, Milwaukee County, Wis.-Bon Hanchett Bond Co. of
water bonds (V. 92, p. 1660) were awarded to theserially
on Mch. 1 from
Due
S.
&
M.
Int.
Chicago. Date May 1 1911.
1916 to 1925.
-An election
Election.
-Bond
WHITEHALL, Muskegon County. Mich.
the question of issuing
has been called for Aug. 28, it Is stated, to vote on
$4.000 road bonds.
DISTRICT NO. 1, Tex.
WILBARGER COUNTY COMMON SCHOOL
$8,000 5% 20-40-yr.
Bonds Registered.-The State Comptroller registered
17.
Aug.
on
bonds
bldg.
(opt.)
-Bonds Voted.-The proposition providWILLOWS, Glen County, Cal.
sewer bonds, which was submitted to voters
ing for the issuance of $27,000
it is stated, by a vote of 130 to 23.
carried,
on Aug. 5 (V. 93, p. 249)
Castle County, Del.-Bonds Refused.-The $50,000
WI LM I NUT°N. NewSt.
widening bonds awarded on July 17 to Harris,
4% 23 3d-yr. Eleventh
have, it is stated, been
Forbes & Co. of N. Y. at 98.192 (V. 93, p. 428)
under a wrong
refused by them on the ground that the bonds were issued
law.
is reported
-It
Loan.
WINTHROP, Suffolk County, Mass.-Temporary
3.73% discount, with
that this town has negotiated a loan of $20,000 at
1912.
3
April
Loan
matures
Boston.
Estabrook & Co. of
-Bond Sale.-On
WYANDOT COUNTY (P. 0. Upper Sandusky), Ohio.
bonds were
Aug. 17 the $6,800 5% 314-year (ay.) Crane Two. road-impt.
basis
awarded, It is stated, to the Citizens' Savings Bank at 102.625-a
4.185%.
of about
22
810,000
Aug.
WYANDOTTE, Wayne County, Mich.-Bond Sale.-On
ar (ser.)
refunding water and $10,000 refunding public-impt. 4 A%at1-10-ye
100.56. Bids
bonds were awarded to the Wyandotte Savings Bank Co. of Detroit,
&
were also received from the following: W. E. Mossand
Hanchett Bond
Co.
S. A. Kean & Co., E. H Rollins & Sons, Farson & 1911.
Int. M. & S. at
Co. of Chicago. Denom. $1,000. Date Sept. 1
Bank.
Savings
the Wyandotte
County, Ark.WYNNE SEWER DISTRICT NO.1(P.O. Wynne). Cross
m. Aug. 31 by the
Bond Offering.-Proposals will be received until 8 p.sewer
bonds. Cert.
6%
Bd. of Impt., S. R. Curtis, Clerk, for $50,000
check for $1,000 required.
election
-An
Election.
YOUNG COUNTY (P. 0. Graham), Tex.-Bond
Issuing $100,will be held Sept. 23, papers state, to vote on the question of
000 5% 40-yr. road bonds.
-Bonds
YOUNG COUNTY COMMON SCHOOL DISTRICT NO. 40, Tex.
was regisRegistered.-An issue of $5,000 5% 10-20-yr. (opt.) bidg bonds
tered on Aug. 18 by the State Comptroller.
bids were received on
• YONKERS, N. Y.-Bond Sale.-The following
bonds:
Aug. 22 for the three issues of 434% registered $80,000
$10.000 $58,000
School.
Bldg.
Water.
102.473
"102.473
'104.43
O'Connor & Kehler
104.119 102.379 '102.537
A. B. Leach & Co
103.891
Sutro Brothers
-$4,342 32 premium onHarris, Forbes & Co
the whole three issues.
73 101.217 101.231
13
.0
2.
104
Parkinson & Burr
Rhoades & Co
on all or none-103.77
&
Son
E. H. Rollins
the three issues.
of 7
R. M. Grant & Co
Successful bids.
be received until
YOUNGSTOWN,Ohio.-Bond Offering.-Proposals will
for the following 5% bds.:
2 p. m.Sept. 11 by Wm.I. Davies, City Auditor,1913.
1
Oct.
Due
$500 Wilson Ave. sewer bonds.
Oct. 1
7,000 street-impt. (city's portion) bonds. Due $1,000 yearly
from 1913 to 1917 incl. and $2,000 Oct. 1 1918.
1913
from
1
Oct.
yearly
$2,604
Due
13,020 MeGuffey St. paving bonds.
to 1917 incl.
to
1913
from
1
Oct.
yearly
$1,050
Due
bonds.
paving
St.
5,250 Rose
1917 inclusive.
1913
25,490 Hillman St. paving bonds. Due $5,098 yearly Oct. 1 from
to 1917 inclusive.
1913
8,825 Cleveland St. paving bonds. Due $1,765 yearly Oct. 1 from
to 1917 inclusive.
1913
from
1
Oct.
yearly
$7,249
38,245 Myrtle Ave. paving bonds. Due
to 1917 inclusive.
to
1913
from
1
Oct.
yearly
$408
Due
bonds.
grading
St.
Clifton
2,040
1917 inclusive.
965 Hawthorne St. sewer bonds. Due $193 yearly Oct. 1 from 1913
to 1917 inclusive.
1,265 Campbell St. grading bonds. Due $253 yearly Oct. 1 from 1913
to 1917 inclusive.
Date Sept. 18 1911. Int. M. & S. at the City Treas. office. Separate
2% of
bids to be made for each issue. Cert. check on a national bank for
be
bonds bid for, payable to the City Auditor, required. Purchaser must
1911.
18
Sept.
than
later
not
bonds
prepared to take the
es.
Canada, its Provinces and Municipaliti
s will be
AMARANTH TOWNSHIP, Ont.-Debenture Offering -Proposal
received until Sept. 16 by E. Hamilton, Twp. Clerk (P. 0. box 35, Laurel).
for $3,500 5% bridge-construction debentures. Int. payable in Dec.
Due part yearly on Dec. 28 for 10 years.
ANTAGOt iSH. N. S.-Debenture Offering.-Proposals will be received.
It is stated, for $5,000 4 A % 10-year debentures. D. C. Chisholm Is
'
Town Clerk.
debentures
CAMPBELLTON, N. B.-Debenture Sale.-The $100,000 4%
bids for which were rejected on July 15 (V. 93, p. 366) have been sold, it is
stated, to C. Meredith & Co., Ltd., of Montreal.
CARDSTON, Alta.-Debenture Sale.-On July 25 the $27,000 6%
Noxon &
40-year water debentures (V. 93, p. 187) were awardd to Brent,
Co. of Toronto for $27,054, making the price 100.20. Date July 5 1911.
Interest in July.
NEW LOANS.
NEW LOANS
$40,000
$95,000
City of Mount Vernon, N. Y.,
VILLAGE OF PEEKSKILL, NEW YORK, West Lincoln Avenue Repaving Bonds.
WATER BONDS
Notice is hereby given that, pursuant to the
authority of Chapter 118 of the Laws of 1909,
the Board of Water Commissioners of the Village
of Peekskill, New York, has resolved to issue
bonds to construct storage reservoirs, including
the construction and erection of dams and the
acquisition of the necessary land therefor, in connection with Its present water-works system.
Notice is further given that there will be issued
ninety-five bonds, each of the denomination of
One Thousand Dollars. That they will bear date
on the second day of October, 1911, and that the
interest thereon will be paid thereafter semiannually on the second day of April and the
second day of October, respectively. That said
bonds will run for the term of thirty years and be
payable on the second day of October, 1941, at
the Peekskill National Bank,Peekskill, New York.
The bidder or bidders to whom the bonds shall
be awarded will be required to take the bonds
and pay the money for the same at the Peekskill
National Bank, Peekskill, New York.
The bids for said bonds will be for the lowest
ate of interest at which the said money will be
furnished.
Sealed bids must be filed with the Superintendent of the Water Works and Clerk of the Board
of Water Commissioners at the Municipal Building,
Peekskill, New York, on or before twelve o'clock
noon on the SEVENTH DAY OF SEPTEMBER.
1911. Each bid must be accompanied by a certithe
fied check on some State or National Bank for
to the
sum of Five Hundred Dollars, payable
of
ers
the
Commission
Water
of
Board
order of the
of good faith
Village of Peekskill, as an evidence
not as penalty,
and as liquidated damages, and within
five days
that the bidder or bidders will, of said
bonds,
after the award of the Issuance
it,
him or
to
made
so
award
the
writing
in
accept
them; and further as liquidated damages,and not
as penalty, in case said bidder or bidders whose
bid or bids shall be so accepted shall fall to fulfill
the terms of said bid or bids on the 12th day of
September, 1911, at eleven o'clock in the forenoon
of that day, at the office of said Board.
Notice is further given that the Board of Water
Commissioners of the Village of Peekskill will meet
at the Municipal Building, Peekskill, New York,
on the 7th day of September, 1911, at 7:30 p. m.,
and will then and there proceed publicly to open
said bids and award the furnishing of said money
for said bonds to the bidder or bidders offering
to take the same at the lowest rate of interest
(not to exceed five per cent, however), and furnish the money as hereinbefore set forth.
Bidders will be required to state whether their
bid Is for the whole amount or for a portion of the
same, and, if for a portion, what amount will be
taken at the rate of interest bid, and, further,
If the bid shall be for the whole amount of the
issue, whether the bidder will accept a portion of
the bonds only at the same'rate of interest.
The Board of Water Commissioners reserve the
right to reject any and all bids.
Dated Peekskill, N. Y., the 17th day of August, 1911.
ALLAN L. SUTTON,
President.
JOHN W. SNOWDEN,
Treasurer.
CASSIUS M. GARDNER,
Secretary.
FRANK SOUTHARD,
W. W. TEARS,
Water Commissioners of
the village of Peekskill.
LANNING G. ROAKE,
Superintendent.
The Common Council of the City of Mount Vernon, N. Y. will at its chambers In the Lucas Build'Place. in the City of Mount Vernon.
ing, Depot
N. Y., on the 5TH DAY OF SEPTEMBER. 1911.
at 8 o'clock p. m., receive sealed proposals for
the purchase of $40,000 worth of bonds to be
denominated "West Lincoln Avenue Repaving
Bonds, numbered consecutively, as issued. from
1 to 40, both inclusive, each bond to be for the
principal suns of $1,000.
That the said Common Council will then and
there open such proposals as may be received
and accept the most favorable thereof, unless it
deem it for the best interest of the city to reject
any or all of said proposals.
These bonds will be for the principal sum of
One thousand ($1,000) Dollars each, and will
bear interest at the rate of four and one-half
(4 A%) per cent per annum, payable semi-annually at the office of the City Treasurer of the City
of Mount Vernon. They will be dated the 1st day
of September 1911 and payable as follows:
$40,000 on the 1st day of September, 1931.
These bonds will be delivered to the purchaser
on or before the 12th day of September 1911.
Each bid for said bonds must be accompanied by
a certified check to r the sum of One thousand
dollars (51.000) as security for the performance
of bid if accepted.
The bonds will be engraved under the supervision of and certified to as to their genuineness
by the United States Mortgage & Trust Company
and their legality approved by Messrs. Caldwell,
Afasslich & Reed of New York City, whose opinion
as to legality will be furnished to the purchaser.
By statute the said bonds cannot be sold for
less than par and accrued interest.
By order of the Common Council.
EDWIN W. FISKE, Mayor.
PETER COLLINS, City Clerk.
$700,000
Thomas J. Bolger Co. Charles M. Smith & Co.
MUNICIPAL BONDS
Legal for Savings Banks,
Postal Savings and Trust Funds
BBND FOR LIST
19 South La Salle St.,
CORPORATION AND
MUNICIPAL BONDS
FIRST NATIONAL BANK BUILDING
CHICAGO
CHICAGO
BLODGET & CO.
HODENPYL, HARDY & CO.
BONDS
STREET,BOSTON
STATE
60
80 PINE STREET,NEW YOBS
7 Wall St., New York
STATE, CITY & RAILROAD BONDS
Railroad, Street Ry., Gas & Elec. Light
SECURITIES
MACON, GEORGIA,
Water-Works Bonds
Sealed - bids to be received by A. R. Tinsley,
Treasurer City of Macon, Ga., up to noon of
SEPTEMBER 4 1911.
to be publicly opened by the Mayor and Council
In open Counll on the 5th day of September 1911.
Certified check for $1,000 to accompany each
bid
City reserves the right to reject any and all bids.
Bonds to be delivered to purchaser at the office
of the City Treasurer, Macon, Ga., on Saturday,
September 30th 1911.
Note -This sale is for $700,000. numbered
from 1 to 700, inclusive, the remaining $200,000
to be sold at a later date.
For full information apply to
A. R. TINSLEY Treasurer.
Macon, Ga.
552
THE CHRONICLE
COLGATE, Sask.-Debenture Sale.-An issue of $2,500 534% 10-year
debentures has been awarded to Nay & James of Regina.
COPPERFIELD SCHOOL DISTRICT NO. 480, Man.-Loan Election.
Reports state that a vote will be taken Sept. 2 on a
by-law to raise $2,500.
W. Cranston (P. 0. Crystal City) is Clerk.
DAVIDSON, Sask.-Debenture Election.-On Sept.
1 the question of
issuing $10,000 power debentures will be voted upon,
it is stated.
DE LISLE. Sask.-Debenture Sale.-The Dominion Securities Corporation, Ltd., of Toronto was awarded In July an issue of
$2,200 6% 15-year
debentures.
EAST WAWANOSH TOWNSHIP (P. 0. Belgrave), Ont.-Debenture
Sale.-On Aug. 19 the $18,000 5% debenture (V. 93, p. 490) were awarded
to Wood, Gundy ec Co. of Toronto for $18,095 (100.526) and
int. Other
bids follow:
Canadian Debenture Corp.,
Dominion Securities Corp..
Ltd., Toronto
$18,300
Ltd.,
•$17,685
W. A. MacKenzie & Co.. Tor.•17,895 Brent, Toronto
& Co., Tor_ _•17,653
C. H. Burgess & Co., Toronto •17,832 Ontario Noxon
Securities
Corp.,
Nat. Finance Corp.,Ltd.,Reg.•17,738
Toronto
*17,647
• Also accrued interest.
ENDERBY. B. C.-Debenture Sale.
Aug. 15 the 2 issues of 6% 20'
year local-impt. and water debentures-On
(V. 93, p. 250), aggregating $17,000,
were awarded to C. H. Burgess & Co. of Toronto
for $17,726, making the
price 104.27.
ESQUIMAULT, B. C.-Debenture Sale.
issue of $125,000 5% 40year sewerage debentures was awarded In-An
July to the Dominion Securities
Corporation, Ltd., of Toronto.
FERNIE, B. C.-Loan Election.-Accordnig to reports a by-law will be
submitted to raise $5,000 for fire-hall addition.
FREDERICTON . N. B.-Debenture Sale.-On Aug. 15 the $10,000 4%
debentures (V. 93, p. 366) were awarded to local investors at par.
GALT, Ont.-Loan Election.-A by-law to provide $10,000 for waterworks purposes will be submitted to a vote on Sept. 9.
(IR AVEN H UR ST. Ont.-Debenture Sale.-On Aug. 19 the $7,000 30-year
water and $3,000 20-year sidewalk 5% debentures (V. 93, p. 428) were
awarded to the Ontario Securities Co., Ltd., at 99.57 and in
Aemillus
Jarvis & Co. of Toronto offered $9,831.
HASTINGS. Ont.-Debenture Offering.-Proposals will be received until
12 m. Sept. 30 by A. Wilson, VIII. Clerk, for $6,000 5% 20-yr. municipal
debentures.
HIGH RIVER. Alta.-Debenture Election.-On Sept. 5 the ratepayers
will vote on a proposition to issue $125,000 5% 40-year water-works and
sewerage debentures.
KAMLOOPS, B. C.-Debenture Sale.-In July $85,000 5% 10, 20 and
25-year debentures were awarded to the Dominion Securities Corporation,
Ltd., of Toronto.
LONGUEUIL, QUE.-Debenture Sale.-0. Meredith & Co., Ltd., of
Montreal have purchased $40,000 4% debentures due in 1951.
MATTAWA, Ont.-Debentures Voted.-The election held Aug. 15 resulted in favor of the proposition to issue the $6,000 5% 20-year sidewalk
debentures (V.93, p. 428). Int. Oct. at the Bank of Ottawa in Mattawa.
MEDICINE HAT, Alta.-Debenture Offering.-Proposals will be received
until 4 p. m. Sept. 4 by A. R. Perry, Sec.-Treas., for the following 5% coup.
NEW LOANS.
[VoL. Lxxxxim
debentures: $10,500 10-year motor-fire-engine, 88,000 20-year
gen. grading,
$33,500 20-year cement-sidewalk, local impt., $4,000 5-year
local impt., $17,500 20-year curb and gutter boulevards, plank-sidewalk,
loan to agricultural society and 53,500 20-year site for the $6,000 20-year
Alberta Linseed
011 & Paint Co. Date Oct. 1 1911. Int. in Oct.
MIMIC°, Ont.-Loan Election.-The question of borrowing $7,500
for a
power plant will be decided by the voters on Sept. 16.
MINTO TOWNSHIP, Ont.-Bids.-The following bids were received on
Aug. 7 for the $2,515 76 5% 20-installment drainage debentures
(V. 93,
p. 307):
C. H. Burgess & Co., Tor__$2,486 00 Nat. Finance Co.,Toront
o •$2,305 00
John Ferguson
*2,343 85 Brent, Noxon & Co., Tor_ _•2,263 00
* For $2,343 85.
MORINVILLE, Alberta.-Debenture Offering.-Proposals
ceived until 12 m. Sept. 15 for $1,000 6% debentures. Arthurwill be reLambert is
Secretary-Treasurer.
MORTLACH SCHOOL DISTRICT NO. 13,681, Sask.-Debenture
Sale.
This district has sold $8,000 534% 20-year debentures to Nay
& James o
Regina.
NORTH TORONTO. Ont.-Debenture Sale.-The $265,500 ,6% 30-year
sewage-disposal-plant debentures offered on Aug. 10 (V. 93,43
p. 366) were
awarded to Wood, Gundy & Co. of Toronto.
Following are the bids:
Wood, Gundy & Co., Tor_ _$261,59710ntario Secur. Co., Toronto $260,157
Imperial Bank of Canada _ 260,1951 Dominion Sec. Co., Toronto 254,540
OTTAWA, Ont.-Debenture Election.-AccorclIng to reports the voters
on Sept. 7 will pass on a by-law to provide $50,000 for
bridge purposes.
PORTAGE LA PRAIRIE, Man.-Debenture Election.-An election will
be held Sept. 6 to vote on the question of issuing $110,000
5% debentures
to purchase the Central Electric & Gas Co.'s plant.
Due Jan. 2 1942.
PORT DOVER, Ont.-Loan Election.-Papers state that on Sept. 5 a
by-law to raise $22,500 for school purposes will be voted upon.
•
RURAL MUNICIPALITY OF ELFROS NO. 307 (P. 0. Elfros), Sask.Debenture Offering.-Proposals will be received
until
12
m.
Sept.
9
by
A.
Kristinson, Sec.-Treas., for $10,000 6% road-constr.
debentures. Due in
20 ann. Installments of principal and interest,
payable at the Canadian
Bank of Commerce at Elfros.
ST. BONIFACE, Man.-Purchaser of Bonds.-We now
learn that the
purchaser of the 10 issues of 5% coup. local-impt. debentures
aggresratng
$421,669 04 sold on July 3 was the Dominion Securities
Corporation.
Ltd., of Toronto, and not the National Trust Co., Ltd.,
as we were at first
advised.
,
SASKATOON PUBLIC SCHOOL DISTRICT
Saskatoon), Sask.Debenture Offering.-Proposals will be received(P.O.
until 6 p. m. Aug. 28 by
W. P. Bate, Treas., for $310,000 5% 40-Installm
ent debentures.
TRENTON, Ont.-Loan Electton.-It is stated that
a by-law to raise
$2,500 for sewerage purposes will be voted upon on Sept.
5. 11
• • •
WEYBURN, Sask.-Debenture Election.-The
of issuing $40,000 water-works debentures will be voted upon onquestion
Sept. 1, it is stated.
WHITEWOOD, Sask.-Debenture Sale.-Nay & James of
Regina have
purchased 86,000 6% 30-year debentures.
YORK TOWNSHIP, Ont.-Debenture Election.-An election will
be he
Sept. 9, it is stated, to vote on the issuance of $25,000 road
debentures. •
NEW LOANS.
NEW LOANS.
$110,000
$18,000
$1,200,000
Essex County, New Jersey, Putnam County, New York, City of Spokane, Washington,
PARS BONDS
BONDS
THE BOARD OF CHOSEN FREEHOLDERS
OF THE COUNTY OF ESSEX, NEW JERSEY,
invites sealed proposals for the purchase of Essex
County Park Bonds, all bearing date September 1
1911 as follows:
(1) 560,000-Essex County Park Bonds in denomination of $1,000 each; interest coupons
at four (4) per cent per annum, payable
March 1 and September 1; principal and interest payable in gold coin; bonds payable September 1 1951; issued under authority of P. L.
1911, chapter 187, approved April 20 1911.
(2) $50,000-Essex County Park Bonds In denomination of 51,000 each; interest coupons
at four (4) per cent per annum, payable
March 1 and September 1; principal and interest payable in gold coin; bonds payable September 11951: issued under authority of P. L.
1910, chapter 166, approved April 9 1910.
Sealed proposals will be received by the Finance
Committee of the Board of Chosen Freeholders of
the County of Essex at a meeting to be held by said
Committee at the Freeholders' Room in the Court
House, Newark, New Jersey, on Wednesday,
September 13,1911,at two o'clock in the afternoon.
Each proposal shall state the amount of the bid
in words and figures for each of the said
Issues, and must be accompanied by separate
certified
check for an amount equal to one (1) per cent of
the amount of each issue bid for, which will be
applicable on account of the 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. PROPOSALS MUST BE UNCONDITIONAL.
THE BOARD OF CHOSEN FREEHOLDERS
OF THE COUNTY OF ESSEX reserves the right
to reject any and all proposals, if, in its judgment,
the Interest of the County requires such action.
Bonds will be engraved under the supervision of
and certified by as to their genuineness by the
United States Mortgage & Trust Company in
the City of New York and will be ready for delivery on or about October 1 1911.
By order of
FINANCE COMMITTEE.
Amos W. Harrison, Chairman.
Sealed bids will be received by the undersigned
up to twelve o'clock noon AUGUST
1911,
for the purchase of $18,000 Highway 30,
Improv
ment bonds, to be issued by the County of Putnam,
New York.
Bonds will be payable $2,000 on the first day of
August, In each year, from 1917 to 1925,
inclusive, and will bear interest at four and both
onequarter per cent per annum, payable semi-annua
lly
on the first days of February and August.
Principal and interest payable In New York
Exchange at the office of the County Treasurer,
or at the First National Bank, Brewster,
New
York.
All bids must be accompanied by a certified
cheek for two per cent of the total amount issued.
The right is reserved to reject any and all bids.
Bonds will be dated September 1, 1911.
Dated Brewster, N. Y., August 14, 1911.
EDWARD D. STANNARD,
County Treasurer of Putnam County.
F. WM. KRAFT
LAWYER
Specializing in Examination of
Municipal and Corporation Bonds
1312 FIRST NATIONAL BANK BLDG..
CHICAGO, ILL.
NATIONAL LIGHT,
HEAT & POWER COMPANY
GUARANTEED
BONDS
All issues
BOND CALL.
A. H. Bickmore & Co.,
City of Helena, Arkansas,
BANKERS
30 Pine Street,
New York
Redemption of Bonds
Aaron Meyers, Treasurer
City of Helena,
Arkansas, will receive bidsof the the
redemption
of City of Helena, Ark., 5%forbonds
due 1924.
Address all communications to
AARON MEYERS, Helena, Ark. •
R. T. Wilson & Co.
33 WALL STREET
NEW YORK
MUNICIPAL AND RAILROAD
BONDS
LIST ON APPLICATION
SEASONGOOD di, MAYER
Ingalls Building
CINCINNATI
Gold Refunding General Municipal
and Water Bonds
Sealed proposals will be received by the Sinking
Fund Commission of the City of Spokane, Wash
ington, at the office of the City Treasurer of said
city up to 12 o'clock noon of the
11TH DAY OF SEPTEMBER 1911
for the purchase of all or any portion of a $1,200,000 00 bond issue of said city, except that no
bid will be considered that is for less than $25,000 00 or multiple thereof.
Said bonds to be issued for the purpose of refunding a like amount of outstanding bonds maturing October 1 1911, described as follows:
$700,000 00 General Municipal Bonds of the City
of Spokane, Series A; $500,000 00 Series B Water
Bonds of the City of Spokane, authorized and
incurred pursuant to Ordinance No. A40 of the
City of Spokane, approved June 26th 1891.
Refunding bonds bear date of October 1 1911,
payable 20 years after date, and draw interest at
a rate not to exceed 5% per annum, payable
semi-annually.
Bonds will be issued as follows:
Refunding General Municipal Bonds of the
City of Spokane, Series A, of 1911; denomination
41,000 00 each, numbered consecutively from
one to seven hundred; Refunding Water Bonds
of the City of Spokane, Series B, of 1911; denomination $1,000 00 each, numbered consecutively
from one to five hundred.
The purchaser or purchasers of these refunding
bonds must enter into an agreement with the city
which agreement shall provide that the refunding
bonds and the purchase price thereof shall be deposited with the Fiscal Agency of the State of
Washington in New York City, as trustee, and
authorizing said trustee from the funds so deposited to pay and cancel said outstanding bonds,
and as fast as said outstanding bonds are so paid
and canceled to deliver to said purchaser or purchasers refunding bonds to an amount equal to
the canceled bonds. No bid will be considered
which does not contain a statement of acceptance
of the above conditions.
The Sinking Fund Commission reserves the
right to reject any and all bids, and each offer
must be accompanied by a certified check for 2%
of the amount of the bid, and must be for at least
par and accrued interest.
JAMES McGOUGAN,
City Auditor.
MUNICIPAL BONDS
Safest Investment
known. Yielding from
for
4% to 6% Write
Circular.
ULEN & CO.
BANKERS
CHICAGO
ESTABLISHED 1885
H. C. SPEER & SONS CO.
First Nat. Bank Bldg., Chicago
SCHOOL,
COUNTY AND MUNICIPAL BONDS
@FedFRASER