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financial

The
INCLUDING
Bank & Quotation Section
Railway Earnings Section

4tontrip
-

Railway & Industrial Section
Bankers' Convention Section

VOL. 89.

Electric Railway Section
State and City Section

SATURDAY, AUGUT 28 1909.

ghe Thranicle.

Week ending August 21.

Clearings at
1909.

PUBLISHED WEEKLY.

Terms of Subscription-Payable in Advance

NO. 2305.

Chicago
Cincinnati
Cleveland
Detroit
I.Illwaukee
Indianapolis _
Columbus
Toledo
Peoria
G
Rapids__ _
Dayton
Evansville
Kalamazoo
Springfield, Ill_
Akron
Fort Wayne
Lexington
Rockford
Youngstown

Inc. or
Dec.

1908.

$4 20
"2 00
Three Months (13 ti)
mes
Six Months
(26 times)
50 01) Decatur
Twelve Months(52 times)
87 00 8 ui:: ld, 0_ _
Q ri le
P n
CHICAGO OFFICE
-P. Bartlett,513 Monadnock Block; Tel. Harrison 401'2. Canton
Bloomington._ _ _
LONDON OFFICE-Edwards & Smith,1 Drapers' Gardens, E. C.
South Bend
ackson d
ansnei
WILLIAM IL DANA COMPANY,Publishers,
P.O. i'ox 95S. Front, P.ne and Depeyster Stn..
Iu.
Danvilie
New York.
Jacksonville,
Ann Arbor
Published every Saturday mornin • by WILLIAM B. DANA COMPANY
William B. Dana,Ptesident; Jacob Seibert Jr., Vice-Pres. and Sec.; Arnold Adrian
G. Dana,Treas. Addresses ot all,Office of the Company.

259,109,506
22,810,450
17,391.342
14.026,436
10.536,414
7,631,166
6,000,000
4,039,021
2,581.096
2.168.608
1,640,346
1,991,651
1.260,540
1,074,412
879,000
824,472
586,867
610,099
778,120
520,890
468,080
534,337
554,075
470.247
489,185
386,664
306,736
323,987
328,144
169,015
22,799

215,/89,106
20,771,900
14,014,869
11,075,928
9,065,856
6,694,650
4,501,500
3,802,585
2,178,375
1,924,674
1,243,146
1,634,888
1,001,158
737,334
700,000
739,368
454,955
529,166
679,190
450,000
424,878
413,703
400,000
387.063
367,951
375.000
289.179
253,604
199,755
95,222
21,114

360,513,701

311,216.177 +15.8

San Francisco_ -Los Angeles
Seattle
Portland
Spokane
Salt Lake City...
Tacoma
Oakland
Sacramento
Helena
San Diego
Stockton
San Jose
Fargo
Sioux Falls
Fresno
Billings
North Yakima

38,833,333
13,866,262
12,243,537
7,017,425
4,013,152
6,912,853
5,727,438
1,805,519
994,290
827,533
1,085.000
637.860
526,928
632,768
575,000
466,661
164,999
288,133

For One Year
$10 00
For Six Months
6 00
European Subscription (including postage)
13 00
European Subscription cix months (including postage)
7 50
Annual Subscription in London (including p( stage)
£2 148.
Six Months Subscription in London (including postage)
£1 11 a.
Canadian Subscription (including postage)
$11 50
Subscription includes following SupplementsB‘NK AND QUOTATION (monthly)
S CATE AND CM (semi.annually)
RAILWAY AND INDUSTRIAL(quarterly) ELECTRIC RAILWAY(3 times yearly)
RAILWAY EARNINGS(monthly)
BANKEAS' CosVaNTION (yearly)

Terms of Advertising-Per Inch Space
Transient matter per inch sp,•tv o %,14, ate lines times)
r c 1011itfls
.4
s

Standing Business Cards

CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, &c., indicates
that the total bank clearings of all clearing houses of the U.S.
for week end. Aug. 28 have been $2,900,636,243, against $3,319,972,643 last week and $2,227,076,491 the week last year.
Clearings-Returns by Telegraph Aug.28.

1909.

1908.

New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans

$1,508,651,680
101,859,942
94,785,749
21,096,662
212,284,099
50,222,036
8,326,433

$1,052,506,072
90,492,952
73,056,743
16,168,309
172,139,809
41,388,882
9,596,492

+43.3
+12.6
+29.7
+30.5
+23.3
+21.3
-13.2

Seven cities, 5 days
Other cities,5 days

$1,997,226.601
400,761,273

$1,455,349,259
315,487.691

+37.2
+27.0

Total all cities, 5 days
All cities. 1 day

$2,397,987,874
502,648,369

$1,770,836,950
456,239,541

+35.4
+10.2

$2,900,636,243

$2,227,076,491

+30.2

Total all cities for week

The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week
has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, Aug.21, for four years.
Week ending August 21.

Clearings at
1909.

1908.

Inc. or
Dec.

1907.

1906.

$
I
$
5
New York
2,184,461,476 1.4101
4.9 1,375,820,650 2,351,389,489
9539
Philadelphia _
145,645,021
99 121,678 +46.9 126551,846 136,845,568
,
Pittsburgh
45,323,322
37 300,376 +21.5
51,258,191
49,048,830
Baltimore
26,058,276
21,295,508 +22.4
24,960,735
22,606,875
Buffalo
8,208.204
7,235,915 +13.5
7,636,788
6,768,669
Albany
5,140,954
4,716,456 +9.0
5,642,061
5,150,372
Wilmington
5,671,605
4,173,478 +35.9
5,129,670
3,935,398
Rochester
3,386,763
2,582,871 +31.1
2,635,824
2,755,793
Berant,011
2,408,573
1,892,591 +27.3
-1,868,381
1,914.983
Syracuse
1,951,965
1,665.530 +17.2
2,105,023
1,365,267
Reading
1,265,526
937,641 +35.0
1,237,376
1.134,498
Wilmington
1,213,617
970,358 +25.1
1,286,288
1,037.089
Wilkes-Barre __
1,180,044
1,120,580 +5.3
1,136,413
1,036,334
Wheeling,W. Va.
1.414,901
1,323,670 +6.9
930,858
991,519
1,179,580
Harrisburg
989,265 +19.2
941,373
750,268
1,613,850
Trenton
1,098,701 +46.9
755,682
York
612,675 +23.3
720,260
613,099
Erie
499,514 +22.8
576,732
504,004
583,092
Chester
471,141 +23.8
487,373
399,888
404,797
Altoona
447,104 -9.5
502,464
Greensburg
378,309 +32.8
518,538
411,785
396,200
Binghamton __ 338,200 +17.2
389,500
410,500
244,553
Franklin
233,534 +4.7
269,301
220,382
Total Middle.. 2,439,623,564 1,600,200,488 +52.5 1,612,103,181 2,588,670,511
Boston
Providence
Hartford
New.Haven
Portland
Springfield
Worcester
Fall River
New Bedford _ _
Lowell
llolyoke
Total New Eng

147,155,288
6,590,000
2.996,727
2,203,636
1,622.325
1,850,000
1,571,803
893,103
1,208,377
413,125
405,000

120,456.859
5,447.400
2,616,773
2,261,718
1,891,008
1,700,000
1,420,711
715,013
589,044
412,274
388,480

+22.2
+21.0
+14.5
-2.6
-14.2
+8.8
+10.6
+24.9
+105.1
+0.2
+4.3

132,879,187
6,341,200
2,847,402
1,829.979
1,748,544
1,991,505
1,244,849
764,060
599.188
524,167
428,671

140,623.986
6,334,800
2,637,458
1,806,412
1,713,938
1,428,011
1,146,741
830,297
409,731
432,559
429,678

166,909,384

137,901,280 +21.0

151.198,752

157,783,611




Total Pacific_ _

1906.
$
195,790,937
21,622,600
14,717,546
11,463,395
8,566.628
6.200,355
5,037,800
4,992,091
2.265,164
2,159.897
1,418,708
1,410,413
739,228
602,016
523,714
757,553
498,861
511,962
417,317
285,667
330,178
468,394
393.610
307,500
390,290
229,513
308,938

258,653
82,571
25,874

231,110
111,548

318,654,426

282,752,933

38,485,821
10,081,845
9,221,965
6.110.399
2.769,243
5.925,529
4.623,687
1,943,827

41,462,569
10,000,000
8,995.896
5,000.000
2,120,387
4,601,552
3,603.764
3,800,000

1,132.349

628.904

622,901
453.700
407,358
450,000

386,820
425,973
423.760

75,088,061 +28.7

82,228,624

81,149,625

46,073,035
36,314,631 +26.9
13,394,703
14,276,273 -6.2
13,012,763
10,010,899 +30.0
10.258.669
8,318,306 +23.3
7,896,044
7.938.933 -0.5
4,952,806
4,429,942 +11.8
3,332,057
2,741,289 +21,6
2,261.185
1,799,519 +25.7
2,678.904
1,310,722 +111.2
1.496,768
1,021,730 +46.5
1,295,546
979.885 +32.3
921,692
789,618 +16.7
795,947
753,088 +5.7
647,277
712,510 -9.1
660,758
• 475,838 +38.7
334.186
283,890 +17.7
2,401.753 Not included in total

33,574,389
18,539,393
10,456,370
8.727.811
7,697.377
5,028,291
2,661,948
1,751,954
1,415,362
1,086.490
1,102,330
811,956
543.068
603,171
509,654
408,369

22,656,077
14,769,674
8,982,560
8,675.827
6,828,453
4,558,717
2,076,499
1.381.726
1,079,293
684,564
1,029,774
661.626
408.191
434,676
430,958
287,880

Tot.other West

110,102,340

St. Louis
New Orleans_ Louisville
Houston
Galveston
Richmond
Fort Worth
Memphis
Atlanta
Nashville
Savannah
Norfolk
Birmingham -_ Jacksonville -t
Knoxville
Chattanooga _ _
Mobile
Augusta
Oklahoma
Little Rock
Charleston
Macon
Beaumont
Austin
Vicksburg

61,617,770
14,594,624
10,998,695
10,966,842
4,322,000
6,590,000
5,081,543
3,549,509
.5,611.795
3,700,000
3,116,892
2,458,159
1,691,569
1,507,774
1,277,163
1,140,225
1,167,321
1,083,515
1,650,000
1,350,000
774,299
615,000
655,202
536,577
148,519

Total Southern

1907.
$
217.239.822
24,619,000
17,652,075
13,396,183
9,994,763
6,937,383
5.932,100
6,191,833
2,607,225
2,182,216
1,600,115
1.516.787
976,626
727.520
875.000
665,346
633,093
625,850
510,361
357,970
411,026
528,886
441,664
403,182
531,675
387,342
342.305

+13.2
+49.4
+48.4
+26.9
+49.3
+51.2
+48.9
+23.1
-8.2
-14.2
+46.6
+9.4
-3.7
+32.2
+23.7
+1.7
-19.3
+55.5

96,618,691

Kansas City
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines_ _
Sioux City
Wichita
Topeka
Lincoln
Davenport
Cedar Rapids__ Colorado Springs.
Pueblo
Fremont
Duluth

+20.1
+9.8
+24.1
+26.6
+16.2
+14.0
+33.3
+6.2
+18.5
+12.6
+31.9
+21.8
+25.9
+45.7
+25.6
+11.5
+29.0
+15.3
+14.6
+15.
+10.2
+29.3
+38.5
+21.5
+33.2
+3.1
+6.1
+27.7
+6.4
+77.5
+8.0

34,308.340
9,289,079
8,250,220
5,531,957
2,088,843
4,579,596
3,845,925
1,466,304
1,083,315
964,889
740,000
583,305
547,436
478,694
465,000
458,650
204,444
158,244

92,157,123 +19.5

94.917,933

74,946,294

+13.4
+15.4
+13.3
+9.4
-28.7
+43.3
+8.0
+13.2
+83.7
+34.0
+9.7
+46.2
+12.1
+24.1
+6.4
-49.8
-1.2
+14.3
+78.8
+53.7
-3.2
+26.3
+16.9
+58.8
-11.3

57,181,862
15,598,612
11,359,943
12,305,594
5,491,500
5,838,538
3,175,568
3.317,860
3,906,294
3,637.206
2,581,570
2,270.633
1,894,164
1,294,249
1,792.255
1,700,000
1,254,681
912,700
786,088
1,098,036
995,000
486,302
500,000

49,627,003
15,656,536
10,036,512
10,162,075
5,855,000
5,243,415
2,422,485
2,868,363
3,320,622
3,077,699
3,662,032
2,111,866
1,707.635
1,026,104
1,277,224
1,027.649
1,289,512
950,661
564,764
911,468
902,305
348,299
310,000

54,355,118
12,643,718
9,705,992
10,026,144
6,059,500
4,600,000
4,706,209
3,136,553
3,054,037
2,762,529
2,840,453
1,681,349
1,509,145
1,214,746
1.200,645
1,200,000
1,181,206
948,197
922,669
878,303
800,000
486,919
474,898
337,960
167,457

Total all

146,204,963 126,893,747 +15.2 139,378.655 124.359,229
3,319,972.643 2,343,456,876 +41.7 2,398,481,571 3,309,969,208

Outside N. Y

1,135,511,167

Canada
Montreal
Toronto
Winnipeg
Vancouver
Ottawa
au Titc
a e
Hamilton
St. John
Calgary
London
Victoria
Edmonton
Total Canada_

932,661,483 +21.7 1,022,660,921

958.579.719

34,664,681
25,525,978
11,666,143
6,081,1)22
3,135,941
2,203,310
2,787,376
1.862,655
1,439,686
1,986,450
1,132,113
1.407.534
1,050.539

26,106,379
22,088,395
7,906,154
3,889,079
2,776,842
2,082,814
1,854,142
1,364,673
1.320,499
1,290,960
1,010,301
1,110,233
775,440

+32.8
+15.6
+47.6
+56.4
+12.6
+5.8
+50.3
+36.5
+9.0
+53.9
+12.1
+26.8
+35.5

35,535,002
21,204,415
11,337,947
4,178,795
3,239,514
2,111,229
2,135,702
1,587.239
1,256,183
1,325.519
1,173,643
1,350,838
835,014

27,635,200
19,810,262
8,206.385
2,657,470
2,815.078
1,526.143
1,532,326
1,315,186
1,208,252
945,008
915,978
740,202
652,850

94,944.028

73,573.911

+29.0

87,271,040

69,960,340

•This year's clearings considerably increased by out-ot-town clearings department.

496

THE CHRONICLE

[VOL. LXXXIX.

These three events determined Mr. Dana to take
A CHRONICLE ANNIVERSARY.
•up his residence in New York. Accordingly, abanOn Thursday of this week Mr. William B. Dana,
doning his profession as a, lawyer, he embarked upon
founder, editor, publisher and owner of the "Chronhis career as a publisher toward the close of the year
icle," completed his eightieth year. His editorial and
1859, and is now celebrating, as already stated, his
office staff signalized the event by conveying to him ,
fiftieth year of business activity.
an expression of their esteem, love and admiration,
A severe and unexpected disaster threatened the
and by testifying their appreciation of his services
very beginnings of his new enterprise, arising from
to the community. The anniversary was really a
and attendant upon the warlike attitude of the Northdouble one, for in the latter part of 1859 Mr. Dana
ern and Southern States and the approaching rupture
began his career as a publisher and editor, so that he
between them, a disaster which was only too speedily
is now completing his fiftieth year in the publication
realized. As the tendency of the magazine was toward
business. Mr. Dana has always been extremely averse
a moderate form of Free Trade, it was natural that a
to personal mention of any kind, but the members of
large number of subscribers should be found south of
his staff felt that such an occasion should not go
the Mason and Dixon Line, and the sudden embargo
unnoticed.
and cessation of friendly intercourse between the
In like manner those responsible for the conduct of
North and South, followed shortly thereafter by the
the paper during his absence feel that the readers of
interruption of all postal service, caused a loss of more
the "Chronicle" and the general public should not be
than half of the subscribers in the United States, with
kept in ignorance of the event. They think that for
a corresponding decrease of income. A little wholethis once they are justified in disregarding Mr. Dana's
some suffering is nature's way of treating individuals.
personal inclinations and desires. Besides, when an
"Other's wisdom helps us not,
editor and his journal have served the community for
Nor much their folly teaches;
Most of solid worth is what
such a long term, according to high standards and
Our own experience preaches."
ideals, the public has a certain claim upon him which
The new management had, however, anticipated
can not altogether be ignored. Mr. Dana conceived
the "Chronicle," developed it in cOnsonance with this setback and provided abundant, reserve to meet
broad and comprehensive ideas, and has made it a the emergency. It is sufficient to call attention here
power and influence in the world. Accordingly, it to only one of these contributing forces of recovery,
seems desirable that certain facts regarding the early namely a series of highly interesting biographical
history of the paper—the circumstances under which sketches of celebrated living merchants, each sketch
it came into existence—should be placed on record being'accompanied by a superior steel plate engraviiig,
before all those conversant with them have passed attracting wide attention in business circles.
Important facts in the lives of Cornelius Vanderbilt,
away.
The history of the "Chronicle" is the history of Mr. Thomas Tileston, Moses Taylor,and others, were careDana's life. The success which has attended the fully obtained and presented,and even to-day reference
paper throughout its entire existence is evidence of is frequently made to these articles in considering the
his skill and ability. The dignity and high tone business history of that Period. The popularity of
maintained in its conduct are indications of his charac- this particular form of enterprise may be judged from
ter and of the lofty aims pursued. And the progress the fact that in one case new subscribers became .so
and development of the paper are marks of his genius. urgent and so numerous through the office in New York
We think the reader will agree with this, even if Mr. as to make it necessary to form applicants in line exDana does not, and protests, as he did when the tending outside the office door.
Another fact which was soon brought to the atten"Chronicle" staff presented the tribute to him, that
tion of Mr. Dana had great influence in shaping his
he was being praised beyond his deserts.
Mr. Dana was born at Utica, N. Y., Aug. 26 1829. future course of action. It became evident from variHe was graduated from Yale College in the year 1851 ous sources that, while the Merchants' Magazine was
and was a practicing lawyer at Utica from 1853 to considered valuable for reference purposes, it had but
1859. For reasons affecting the health of the clearest little influence as a living, active factor in the business
member of his family, it became important to change world day by day. One experience of that period will
his residence to a more suitable climate. About the serve to illustrate this fact very forcibly. Many subsame time it happened that he purchased a considera- scribers after each period of six months sent their
ble tract of land on the Palisades in New Jersey; a copies of the magazine back to the office to be bound.
coincident event was an offer made him, for purchase, It was noticed that not infrequently these copies were
of Hunt's Merchants' Magazine, a monthly journal returned enclosed in their original wrappers, showing
which had been published in New York City since the plainly that some supporters' of the monthly found
year 1839, and which had at the time a wide and sub- its only value to be that of a file for reference
purposes.
stantial circulation in Europe and America.




Aua-. 28 19091

THE CHRONICLE

497

The country was then entering upon a wonderful
THE FINANCIAL SITUATION.
period of rapidity in business methods. A monthly
According to the comment of one of our morning
magazine, however great a storehouse of valuable
knowledge it might be, could not through its editorial journals here, Mr. Yoakum, of the Rock Island RR.,
"struck a new note" in his address last week to the
department wield far-reaching influence in the rush
Farmers' Union of Oklahoma. This note was sounded
of the business world.
in his opening remark that "the farmers and the railThis fact, speedily realized by Mr. Dana, caused roads are natural partners." The only remarkable
him to project a new publication which should retain thing is that anybody should call this "new." If it
all the best features of the old one and add the neces- is new in any respect, it is only because so little was
sary vitality to make the paper a living force. Dur- formerly said about it, or because people in general
ing the whole period of the Civil War this plan was have not recognized it, or because they have forgotten
ripening in his mind and it bore fruit in July 1865, it of late years; and when they hear it now it strikes
them as so true and so just that it has somewhat of the
when the first number of the "Commercial and Finanforce of a freshly discovered truth.
cial Chronicle" appeared.
It has been true, and simple, and obvious, ever since
In developing this new scheme Mr. Dana took as the railway system came into being. As Mr. Yoakum
his model, for form, the London "Economist," bear- goes on to say, when securities of a new road are
ing constantly in mind the need of giving to his peri- offered, the first inquiry made by any intelligent invesodical a very practical side, an everyday application, tor concerns the character of the country which the
suited to a conservative high-class clientele, and able road will serve if built. If that country is fertile, poputo maintain a foremost place in the rapidly moving lation will come, and the question of possible success
for the road is answered; if that country is sterile, so
march of events. It is worthy of note that the first
that there will be no farmers on the line, somebody
issue of the "Chronicle" contained in embryo form a
has made a mistake in planning, and the whole scheme
suggestion of every one of the subsequent develop- is barren. Turning the subject around, the
man who
ments which have from time to time been made in thinks about farming in a new country considers first
the form of additional supplements or sections.
its railway facilities; they may not be very full at
When the first number of the paper appeared, in present, but if the country has natural advantages
July 1865, the title page bore testimony to the broad he knows the facilities will follow, and his faith sends
field it meant to occupy. Besides the name "The him forth. The case might be condensed into a brief
Commercial and Financial Chronicle," it had the sentence thus: without the farmer the railroad would
following sub-titles: Bankers' Gazette, Commercial have nothing to carry and therefore could not exist;
Times, Railway Monitor and Insurance Journal; a without the railroad the farmer would have no marWee .ly Newspaper representing the Industrial and ket for products and therefore he could not exist.
Commercial Interests of the United States. Its chief
The notion of antagonism instead of partnership of
aim as stated in the first number was the advocacy interests has been brewing mischief in the country for
of correct principles, but it also aimed in every essen- many years. Without seeking to be precise about
tial sense to be a newspaper. To quote from an edi- dates, there was the Grange movement of long ago,
torial of the first issue: "All that the economist, the the Populist movement came later, and, while other
inerchant, the banker, the manufacturer, the agri- notions and aims attached to these, an offensiveculturalist, the shipper, the insurer and the speculator defensive combination against the imagined enemy
may need to know in the course of his daily pursuits was in each. The climax of this feeling was very well
will be found duly chronicled in its columns."
represented by a clever tale called the "Octopus,"
The beginnings were modest but marked with the published a few years ago; it related interestingly how
same conservative judgment of management which that hideous creature devoured the farmers; yet it
has proved a noteworthy feature of the entire history was all very absurd, for the author failed to explain
of the publication. Starting as a paper of thirty-two how the railroad octopus could go on living after he
page3,it has grown to-day to be a publication of from had devoured the last of his food and no more would
eighty to ninety or more pages. A feature of the be produced.
"Chronicle" which early became most important and • The outlook now is that, despite the amazing folly
was the source of the major part of its income for a of our public policies, the country will continue prosconsiderable period was the Cotton Market report. pering, so vast are its advantages which, of themselves,
Both in Europe and America the "Chronicle" was make for prosperity. But if the railroads have still
quickly made the weekly standard of the cotton inter- more work to do they will positively not be equal to
ests, a position of authority which it has maintained it unless they are able to keep up existing facilities
until the present day.
and add more; there will be a repetition of the old
The early subscription price of the "Chronicle"—ten complaints and the old demand that government
dollars a year—has proved a noteworthy aid in the shall cause miracles to be wrought. Material for new
development of the paper. At first it seemed an structure and rolling stock can be had only by paying
excessively high price, which might have tended to for it; the makers of it are selfish. Clearly the railstimulate rivals; but as an actuality it has formed the roads must have money. Either railroad building
bed-rock upon which has been reared the splendid and operating must be undertaken as a government
structure that the publication now presents. To the function out of the proceeds of taxation, or private
original weekly newspaper have been added six sup- capital must come forward and continue the service
plements, appearing at various times throughout the as heretofore. • But private capital must be invited
year, with no increase in the price of subscription.
and it must be permitted to choose. It cannot be




498

THE CHRONICLE

coerced, but it can be repelled. The alternative is
an irreducible one which neither statute nor governmental power can change.
It is easy to denounce capital most of the time,
and the politicians readily drop into doing that because
it seems to please the common people. But when capital is needed inducements have to be set before it.
It is always anxious for profitable employment, and
it will come if the skies are not kept angry. Is it not
full time that not the farmers alone but all of us began
to learn that the railroads are our allies, not our
enemies?

[VOL. Lxxxix.

of share properties, thus still further accelerating the
downward course of values. Obviously, at some point
in the decline an equilibrium will be reached, for it is
undoubted that underlying conditions are sound. A
real cause for apprehension might develop out of the
crop prospects, wh ch latterly have not been so favorable, owing to the hot weather and extreme high temperatures experienced over a large portion of the
agricultural districts in the Middle Western And
Southwestern States.

The importance of the decision against the InterState Commerce Commission in the Missouri River
The decision in the United States Circuit Court at rate case lies in the fact that it puts an end, for the
Chicago by Judges Grosscup, Baker and Kohlsaat, time being, to the attempts ofthe Commission to revomaking permanent the temporary injunction granted lutionize commercial conditions and introduce enNov. 6 1908 against the Inter-State Commerce Com- tirely new principles in rate-making. The case was
mission in what is known as the Missouri River rate that of Burnham, Hanna,Munger Dry Goods Company
case, is of far-reaching importance. No doubt.,the et al. vs. Chicago Rock Island & Pacific Railway Comdecision would have attracted greater attention and pany et al, and was referred to in our issue of Novemhave had considerable influence upon the Stock ber 14 last. It sought to restrain the enforcement.of
Exchange except that the eye of the speculative an order of the Commission made June 24 1908.
fraternity is for the moment focused on the reports As explained in the last annual report of the Commisregarding the condition of Mr. Harriman's health and. sion, the conclusion upon which its order was based
how far he will be able to carry out the comprehensive was to the effect that class rates from the Atlantic
plans for the future development of his properties, and seaboard territory to the Missouri River cities are unalso upon the tremendous liquidation of speculative reasonably high; that they are so because those poraccounts and great collapse in prices upon the Stock tions of the through rates which are applied between
Exchange. Whatever may be the chances of Mr. the Mississippi River crossings and the Missouri River
Harriman's immediate restoration to health, there cities to the through transportation are too high; and that,
seems little likelihood of any cessation of activities therefore, the separately established rates applied
on hi art so long as the breath of life remains in his west of the Missouri River to the through transportabody. He is showing remarkable grit in the face of tion should be reduced. In granting the preliminary
some obvious physical disabilities which apparently injunction last November, Judge Grosscup pointed
do not yield readily to medical treatment, but which out that trad houses in the intermediate country of
will certainly be overcome if medical science and the St. Paul, Minn., and other cities have grown up upon
highest skill and talent available for the purpose:4am- the condition that they are given the same relative
equal to the task. Mr. Harriman is evidently seeking rates to the Western country that the Atlantic Coast
to recruit his health in the same active and ceaseless cities are g.ven to the Western country. It was urged by
way that he has been carrying on his railroad and the Cow t that the order f the Commission disturbed
other undertakings, and it is no wonder that occasion- commercial conditions that have grown up through
a long line of years upon the basis of existing rates.
ally he gets tired and looks tired.
As an illustration of what it was sought to accomThe decline in the stock market has been very
severe, but can be explained by causes entirely inde- plish, the situation with reference to the rate on firstpendent of Mr. Harriman's condition, though he class freight may be cited. The through rate now in
made it qu te evident in the interviews that 'he gave force on that class from the Atlantic seaboard to the
to the newspaper men on Tuesday, on his return from Mississippi River is 87 cents, and the ate thence from
abroad, that there was little basis of fact in the stock the Mississippi River to the Missouri River is 60 cents,
market rumors regarding a segregation of Union Pacific making a total of $1 47 r er hundred pounds as thp
assets and other stories which had been used to boost joint rate from the Atlantic Seaboard to the Missouri
the prices of the so-called Harriman properties; he River. The Commission ordered a reduction to $1 38
also made it clear that his plans for the future related' in the through rate, and directed that the reduction
to the development and upbuilding of his properties should fall entirely on the lines running between the
and had no reference to the course of Stock Exchange Mississippi and Missouri rivers. Obviously, such a revalues. The truth appears to be that the advance in duction in the joint through rate between the Atlantic
all classes of share properties had continued so long Seaboard and the Missouri River meant that jobbers
and proceeded at such a furious pace that, for the on the seaboard would gain a great advantage over the
time being, the movement could not be carried any jobbers in the Middle West, who necessarily would have
further, and a halt was necessary. When the trading to pay the sum of the separate rates, that is, first the
element saw that there was no more money to be rate between the seaboard and the Mississippi River
made on the long side of the market, they promptly and then the rate from the Mississippi River to the
took to the short side, and when those who had bought Missouri. In a later case the Commission reduced the
stocks for a further rise began to realize that their rate on shipments to Denver so that the seaboard, by
desires could not be attained, they threw their holdings shipping direct to Denver under the order of the Comoverboard. The declines precipitated by these two mission, could save 23 cents per•100 lbs. on first-class
movements wiped out narrowly margined accounts freight as compared with what it would cost to transand occasioned the throwing over of other holdings ship at the Missouri River.




AUG. 28 1909.1

THE CHRONICLE

499

The matt r thus reiolved itself into a question of ceived at Lisbon from Barcelona that there are grave
,
competition between markets, and the real point at apprehensions of a recrudescence of the revolutionary
issue was whether the Inter-State Commerce Com- demonstrations which accompanied the early efforts
mission under the Hepburn law has power to make and to reinforce, through conscription, the Spanish army
unmake markets—to create and to destroy traffic cen- in Morocco. Wholesale arrests of men and women,
ters. The U.S. Circuit Court, by the majority opinion including members of the Patriotic Liberty Associaof Judges Grosscup and Kohlsaat (Judge Baker filing a tion, have been made, under the direction of the Spandissenting opinion), holds that the Commission has no ish Cabinet, in the effort to enforce most stringent
such power. In expressing the views of the majority, measures against participants in the revolt of July 28,
Judge Grosscup well said that the question raised in when martial law was declared throughout Spain.
its larger aspects is not so much a question between the The prisons in that province and in neighboring loshippers and the railroads as between the commercial calities are said to be filled to overflowing with political
and manufacturing interests of Denver and of the terri- suspects, and collisions between the people and the
tory east of the Mississppi River on the one side guards are frequent, involving more or less serious
and the commercial and manufacturing interests of the loss of life. The Civil Governor of Barcelona has not
Missouri River cities on the other. He took occasion disguised the fact that if another defeat is experienced
to state that the Court was not prepared to by the Spanish forces at Melilla, the revolutionary
say that the Commission had not the power agitators. will take advantage of the circumstance to
to enter upon a plan looking toward a system foment another revolt.
of rates wherein the charge for longer and
Reports from Melilla, under date of August 24, say
shorter hauls will taper downward according to distance that, as it has been found impossible to cut the Marproviding such tapering is both comprehensively and chica Canal—which was closed by an earthquake in
symmetrically applied—applied with a design of 1894—under four months, General Marina began on
carrying out what may be the economic' fact that on that day an advance to Resturga along the
sea front.
the whole it is worth something less per mile to carry The heat was intense, but the soldiers appeared
to be
freight long distances than shorter distances. "But," glad that the long suspense was ended and that active
he says, "it does not follow that power of that char- war had begun. The presence among them of the
acter includes power, by the use of differentials, arti- Duke of Saragossa and the Marquis of Valleceratto,
ficially to divide the country into trade zones tributary who are serving as volunteers in the ranks, is having
to given trade and manufacturing centres, the Com- an encouraging. effect. The concentration of the
mission in such cases having as a result to predetermine whole army will occupy several days, and it is still
what the trade and manufacturing centres shall be; uncertain when General Marina will start for the front.
for such power, vaster than any one body of men has The commissariat is in good shape, but the water
heretofore exercised, though wisely exe ted in specific supply is a serious problem. The advancing column
instances, would be putting into the hands of the is composed of infantry, cavalry and artillery, and it
Commission the general power of life and death over is moving under the protection of the gunboats.
every trade and manufacturing centre in the United
A Madrid dispatch from Melilla reports that the
States." This is the literal truth, namely that the Moorish chiefs, in response to the communication of
assumption referred to would be putting into the hands Sultan Mulai Hafid, requesting them to cease hostiliof the Commission the power of life and death over ties against the Spanish, have decided to continue
trade and manufacturing centres. Under the cir- offensive operations until the Spaniards are driven from
cumstances it is no surprise that the Court was forced all their positions beyond Melilla.
to the conclusion that no such power exists.
The ruling of the Court is extremely gratifying and
Salonica dispatches report the development of revoencouraging, for, as is known, the Inter-State Com- lutions in two localities in Asiatic Turkey; one in
merce Commission has sought in other cases, in various northern Albania. A semi-official note from Rome
parts of the country, to upset the established system says the Mandist movement at Yehmen, southwestern
of rate-making and undertaken to give to special cities Arabia, has assumed a revolutionary character,
the
and centres advantages which they have not previously revolutionists indulging in massacres and pillage.
enjoyed. Judge Grosscup speaks very guardedly and Turkish troops are marching to Hodeida, a port on
takes pains to state that the orders of the Commission the Red Sea, anti the Governor has telegraphed
.
to
are enjoined solely because "they lay upon the com- Constantinople an urgent request for reinforcement
s.
merce and manufacturing of the localities affected Pending their arrival he will ask for the assistance
of
an artificial'hand tha' Congress never intended should the British and Italian warships•in the Red Sea,
and
be put forth, and therefore are outside the power con- already the latter have proceeded from Aden to proferred upon the Commission by Congress; for with the tect Italian interests.
question of a reduction in rate, or a readjustment of
rates from which such artificial results have been elimiThe women from all classes of society in Stockholm
nated, we (the Court) are not now dealing." With the have petitioned the King of Sweden to bring about
scope of the Court's ruling thus defined and restricted, arbitration of the dispute between the laborers and
there would appear to be strong likelihood that the their employers that resulted in the strike last month.
present judgment will be affirmed when the case is The Ministry of the Interior has instructed the local
appealed by the Government to the U. S. Supreme governors to take drastic measures to protect the
Court.
laborers who have returned to their work.
A serious political outbreak seems to be feared in
The announcement is made that the foreign debt
Barcelona, Spain. It appears from a dispatch re- of Honduras will be refunded through the negotiation




500

THE CHRONICLE

[VoL. Lxxxix.

valve which is closed by an electric current. This current is continuous through the block, but is subject
to interruption. Entrance of a train into the block
interrupts the current flow; so does an open switch,
a broken rail or an iron bar laid across the rails, or,
presumably, any larger happening which should impair the integrity of the line. Interrupt the current
flow, and the compressed air pressure which holds up
the signal stops, and the signal drops to "danger."
Thus it seems certain that the man in.tho Cab will
be able to know, two blocks ahead of him, whether
the line is clear and in order. He may not observe,
or he may fail to obey; the human factor remains thus
far, but when electric driving comes in it will be possible for electricity to do the train-stopping automatically in such cases, thus removing one more spot of
possible failure.
The point which this seems to us to suggest is not
new, yet needs to be kept in mind, namely, these successive steps towards speed, certainty, safety and effectiveness in transportation are in a natural evolution,
owing nothing to governmental bureaus and commissions. Such bodies, set over the work, harass those
engaged in doing it; they make a great parade of activity, and are very likely, in order to convey an impression of their importance, to claim credit for every
It seems strange that with a crisis apparently developing in Spain—a revolution at home and the fall of improvement, just as we have seen right here in this
however,
the dynasty being likely to follow the possible failure city during the last 18 months. They are,
o little mere flies on the coach wheel, as it were, so far as havof General Marina's campaign in Morocco—s
improvement.
concern should be manifested, particularly at Paris. ing any real effect upon the progress of
copper-mining in- Practical improvements are made because that is in
By reason of French interests in
and safety
dustries in her colonies France should be directly the natural order of events. In effectiveness
in Morocco. of transportation, it is in the interest of the carrier
affected by any disturbed conditions
personal inWhen the outbreak between the Spaniards and the to make them. Fines and awards for
became seri- juries are not necessary; mishaps are expensive, and
Moors first occurred, the French Bourse
ously unsettled; since then the repeated failures of the railroad finds precaution better.
We are in a great time of attempted artificial reguGeneral Marina appear to have made no impression
have been regarded as lation of many things, which would regulate themselves
upon Paris, though they must
indicative of more or less permanently disastrous more naturally and better if left alone to do it.
political and industrial results. The fall of the SpanCotton spinners in Lancashire (England) have taken
ish dynasty, were that to be the final outcome of a
affect the concert of the Powers, action this week to prevent the undercutting of yarn
revolution, would
on Tuesday,
calling into activity every European nation in efforts prices. At a meeting held in Manchester
the 4,500,000
two-thirds of
to restore the political status. The socialistic ele- attended by the owners of
would be arrayed in support ring spindles in the Lancashire district, it was decided
ments in western Europe
prices at which
of the revolutionists, and weak governments might to form an association to fix minimum
be sold and thus
easily be overthrown. The progress of General the various counts of yarn should
trade. The cottonMarina's campaign will doubtless, therefore, be safeguard the interests of the
goods trade has not been in a very satisfactory conwatched with intense interest.
dition recently and with the demand for yarns below
of prices. That
There is an unintended 4uggestiveness in the bulle- normal there has been much cutting
of a circular early in
tin which lately advertised the means of safety to fact accounts for the issuance
was the result.
passenger trains as used on the Pennsylvania Railroad. August, of which Tuesday's meeting
spinners of ring yarns
The block system, now many years old, superseded The circular suggested that the
the "Ring Mills
the early trackmen, who stood waving a flag to indi- form an association to be known as
being to safeguard
cate safety to approaching trains. The line was Association, Limited," its object
divided into blocks, furnished with signalmen in that particular branch of the cotton trade. It was
of the associatowers, each of whom passed the word to the entrance further suggested that, as the object
at a loss, a minimum margin
end of his block when a train had cleared the further tion is to prevent selling
end, so that every engineer, on approaching a block, be agreed upon for various counts of yarn, which,
was supposed to have before his eyes a certain means added to the actual price of the current month's
of knowing whether any train was then in the block. futures (raw cotton), shall be the lowest price at which
By the later plan, the visible signal is an arm on a the yarn shall be sold; but there shall be no limit to
pole, rising to the horizontal when the block is occu- higher prices. A feasible method of fixing the minisellpied and dropping when it is clear. This arm is mum margin was also submitted. Penalties for
below the minimum or for failing in other ways
dropped by gravity, an infallible force. The arm is ing
were likelifted to horizontal by compressed air, actuated by a to comply with the rules of the association

'of a loan with J. P. Morgan & Co. of New York. Two
representatives of the Government will arrange the
details in this city. The American: Administration is
said to be favorable to the proposition as a means
for the development of the resources of Honduras.
The basis for the settlement of the Honduras debt
is outlined in London mail advices. The official announcement invites holders of the bonds of the Honduras 5% loan of 1867, the 10% railway loan of that
year, the 6% railway loan of 1869 and the 10% railway loan of 1870 forthwith to deposit their bonds
with the Council of Foreign Bondholders against the
issue of negotiable deposit receipts authorizing the
Council to deliver the deposited securities to J. S.
Morgan & Co. against a cash payment of £15 for each
£100 of existing bonds, with unpaid coupons attached,
provided a settlement of the debts of Honduras,
under the auspices of the Government of the United
States, is effected by Aug. 4 1910. If the scheine shall
be effective, Honduras,by paying £810,000, will be relieved of a total liability of over,223' millions sterling,
5 millions of which represents the principal of the four
loans issued in 1867-70 and 17 millions interest in
arrears.




AUG. 28 1909.)

THE CHRONICLE

wise proposed. It is quite evident that the plan as
outlined in the circular will be of benefit to the trade;
at least that is the conclusion to be drawn from the
cable announcement that the majority of the mill
owners .have decided to form an association as suggested.

501

erected, or that in the event of immediate construction they will be promptly ,tenanted. But there can
be no question that construction is being undertaken
with the view of supplying prospective if not immediate demand, and is indicative of a belief on the part
of the builders of a full return of prosperity.
Moreover, the activity noticeable in the returns
The week just closing has been one of the most for July is not confined to any section. Noteworthy
eventful in the .history of the strike at the McKees percentages of increase are reported from many direcRocks plant of the Pressed Steel Car Co. On Sunday tions, with the gains conspicuously large at such
rioting by the strikers was indulged in to such an representative cities as.New York,, Pittsburgh, Cleveextent that the State troops were given the order to land, Baltimore, Denver, Detroit, Omaha, Buffalo,
"Shoot to kill;" and something approaching a battle, Kansas City and Rochester. And in all' of these intook place. The number of dead and wounded has stances the gains recorded, this year over 1908 follow
been so variously estimated that any exact figures are increases in that year as compared with 1907. Altoimpossible to obtain, On Monday still more soldiers gether our compilation for July 1909 covers 102 cities,
were sent to the strike zone and martial law was and of that number only 34, or exactly one-third,
established. • Strikers without number have been exhibit smaller aggregates of estimated expenditure
arrested, searched for weapons and locked up in im- for building construction this year than in 1908. It
provised, box-car jails. Attempts to destroy the works is to be noted, furthermore, that only three or four
of the car company by dynamite or other explosives cities of any size are included among these. As herehave thus far been,frustrated, but the strike-breakers tofore in the current year, greatest attention is atwithin are said to be in a constant , state of terror. tracted by the returns for Greater New York.. In
There is no doubt that the situation is now in, control June, it will be remembered, operations were on a
of the State troops, but at a cost far, greater than was smaller scale in Manhattan than in the same month
necessary .had the requisite steps towards, controlling of 1908; but in the other boroughs there was much
the outbreak.been taken in time. At whose door the activity, so that the result for the whole city was a
blame for this delay should rest it is not our purpose little better than a year, ago. In July, however,
to state. In the meantime no further details of the activity was general, with the percentages of increase
causes of the continuation of the strike nor of the over 1908 ranging from 26,5% in Manhattan and
possibility of its settlement have come to public 64.5% in Brooklyn to 128.5% in the Bronx and
notice. Demands and refusals on the part of the 256.3% in Queens. For the whole of Greater New
strikers and:the,officers of the.company, riot and re- York the contemplated outlay as reported was $29,pression on the part of the unemployed and.the troops, 207,363, against $19,175,607 in 1908, or a gain of
and the day of settlement is still in the distant future.
52.3%, and, contrasted with 1907, the aggregate
There has .appeared, however, one new 'element in shows an increase of 66.7%.
the trouble, which if confirmed may overshadow the ; Outside of Greater New York the outlay necessary
entire situation. A charge of peonage has been. to carry out the plans formulated in July this year is
brought against the Pressed Steel Car Co. and the placed at $55,734,736, which compares with $44,147,Department, of Justice at Washington has.issued in- 392 for the corresponding time a Year ago, or an instructions to the United States Attorney at Pittsburgh crease of 26.2%; contrasted with 1907 the gain is
to investigate 'these charges. H. • G. Hoagland, 'a 18.8%. Of the larger cities, .Denver, with 221%,
former ' New' York newspaper man, has also been shows the greatest'measure of increase; but Scranton,
appointed 'special officer for the same purpose. In Bridgeport, Portland, Me., and San Diego, cities of
mere justice'it is proper to say that'up to the time of considerable importance, also furnish evidence of an
writing no proof of the above charge has been dis- important stimulus to building operations. And
covered, though it is an undoubted fact 'that the among the smaller municipalities, where the estimates
strike-breakers within the company's plant have found of cost in any event are light, the percentages of gain
conditions somewhat abnormal. Important develop- in several instances are above 300 and in one case
ments are ,daily expected and it is possible that the reaches . 2,200. Including New York, the grand
investigations referred to may reveal certain facts aggregate is $84,942,099, as compared with $63,322,hitherto hidden concerning the causes of the strike.
999 for the month of July 1908, or an excess of 34.1%,
and contrasted with the period in 1907 there is an
Building-construction operations in the United increase of 31.8%.
States continue along extensive lines, the estimated
For the seven months of the calendar year 1909 the
outlay to cover the new structures projected exceeding returns for 82 of the, leading municipalities of the
very materially the contemplated expenditure a year United States are available, and in the aggregate they
ago, and being greater than in most, if not all, earlier make a very gratifying exhibit of activity in building
years. This remark applies particularly, of course, operations—in fact, a record showing. The conto the grand aggregate for all the cities reporting thus templated expenditure at the 82 cities for the seven
far in 1909; but it also fittingly describes the situation months foots up 497 millions of dollars, against
310
in most of the important municipalities individually. millions in the corresponding period of 1908
and 434
As we noted a month ago, there was in June some millions in 1907. Operations in Greater New York
let up in the, activity that had characterized operations were 96.3% greater, as compared with.1908,and a gain
in preceding months of 1909; but plans filed in July of 40A% is indicated over L907'. Outside of this city
indicate that the halt was only temporary. It does the increases are 45.7% and 4.2% respectively.
not follow that all the buildings projected will be



502

THE CHRONICLE

Lxxxix.

That the movement of immigrants into the United 1907, of course, the excess was large for each period
continues u on a declining scale, and is quite 61,337 for the month and 723,530 for the seven months.
States
A further decline in immigration is indicated for the
moderate withal, is a feature of the times that, under
existing conditions, cannot but be viewed with satis- month of August. The arrivals of steerage passengers
faction. Later on, when the industrial affairs of the at the port of New York for the period down to the
country have made full recovery from the depression 27th aggregate only 33,600, against 50,378 for July
that had its inception in the fall of 1907, there will this year, 39,606 for the whole country in August
likely be urgent need for a largely increased labor 1908 and 111,135 in the month of 1907. Departures,
force. But just now the supply is ample for all re- moreover,keep pretty well up to the level of earlier
quirements and any very material additions to it months,so that only a very moderate gain in populathrough immigration would merely mean an important tion is the probable result for the current month.
swelling of the ranks of the unemployed. Recovery, Last year there was a net loss of 6,107 in August, and
however, is constantly in progress, each week that in 1907 a net gain of 66,818.
passes furnishing evidence of a gradual return to that
The market for call money was higher this week; it
prosperous state that is so anxiously awaited. Large
yields of practically all of our leading crops are now was influenced largely by the concentration of the
reasonably well assured, the tariff bill is out of the inquiry upon this branch and by anticipated withway and railroad earnings are increasing. So there drawals next week of gold for transfer to San Francisco
is nothing lacking to give to capital that confidence for the account of Japan. Reports from the interior
which should act as a stimulus to the carrying out of were to the effect that banks in the West and South
projects newly conceived or those that depression were overflowing with money. While this statement
caused to be held in abeyance. And with such mat- is probably an exaggeration,it may be partially true;
ters actively entered upon immigration along as full extfeme plethora of funds is not indicated either in
the quoted rates for money at the principal centres
lines as in 1906 and early 1907 may be welcome.
For July this year the inward movement of immi- or in the rate for domestic exchange on New York,
grant aliens, according to the official report, was66,218, though there was a recession in such rate during the
which, while 19,252 less than in June, was more than week. The banks in the West appear to be meeting
double the restricted aggregate for the period in 1908 the current demands for money for harvesting and
(27,570). In 1907 and 1906, however, the arrivals primary distribution without drawing largely upon
to sustain
were considerably greater, having been 97,132 and their Eastern reserves, and this fact seems
inflow Italians the contention that there is a great sufficiency for these
84,403 respectively. In the July
predominated but the proportion of Hebrews and purposes, at least for the present.
Money on call, representing bank and trust comPoles was comparatively heavy, the three combined
coming from pany balances, loaned at the Stock Exchange during
making up close to half of the aggregate
4%;
about 21
all directions. For the seven months of the calendar the week at 2% and at 2%, averaging
were 600,341. which all lending institutions quoted 2% as the minimum.
year 1909 the immigrant arrivals
contrasts with the abnormally low aggregate of 200,- The inquiry for time loans on good mixed Stock Ex226 for the correspoding period of 1908 and the record change collateral was chiefly confined to the shorter
figures of 841,084 in 1907. These figures include only maturities, which would be payable in the height of
or
the immigrant aliens, or those coming here for the the grain and the cotton-export season. The more
the arrivals each month cover less violent liquidation in the stock market during
first time. In addition
,
an important number of aliens returning from visits the week seemed to discourage new commitments
nt aliens they are officially and consequently the demand for long fixed-date conabroad (non-immigra
not expected to
.classed) and they must be taken into account. These tracts was not urgent; the inquiry is
year 11,726, against 9,563 in revive until the outlook for stock speculation becomes
numbered in July this
collateral loans are
the month last year and 10,403 in 1907, and for the more clear. Rates for sixty-day
115,673 and 68,327 and 98,644 2Y1@3%,for ninety days 33,4(0)332%, for four months
seven months total
4@3%% and for five to six months 3%@4%.
respectively. Combining the immigrant and non- 31
have a total inflow of aliens in Commercial paper is in moderate demand by local
immigrant aliens we
to ninety day
July 1909 of 77,944 against only. 37,133 in 1908 but financial institutions at 4% for sixty
in 1907, With the seven months' endorsed bills receivable, 432% and above for prime
against 107,535
aggregate reaching 716,014 this year and comparing and 5% for good four to six months' single names.
There was a large amount of re-discounting for Southern
with 288,553 in 1907 and 939,728 two years ago.
movement of aliens proceeds along banks during the week, which is a new feature of the
The outward
very moderate lines. For July this year the departures situation; at the same time there were important
of steerage passengers from all ports of the country direct loans to merchants and manufacturers.
The Bank of England rate of discount remains unwere only about 20,000 and for the seven months of
year reached 140,000 These totals changed at 23/2%. The cable reports discounts of
the calendar
-day bank bills in London 13/2@1%%.
contrast with 49,473 for July last year and 391,354 sixty to ninety
for the seven months, with the efflux in 1907 reaching The unofficial rate at Paris is 131@1M% and at Berlin
46,198 and 216,198 respectively. Deducting this and Frankfort it is 23 @2%%. According to our special
outward flow from the aggregate arrivals as given cable from London the Bank of England gained
above, we find that while in July of the current year E334,192 bullion during the week and held £40,276,789
there was a net gain of 57,944 in foreign born popula- at the close of the week. Our correspondent further
tion, last year showed a loss of 12,340, and for the advises us that the gain was due largely to receipts
seven months of 1909 our net gain was 576,014, from the interior of Great Britain. The details of the
contrasting with a decrease of 102,801 in 1908. In movement into and out of the Bank were as follows:



AUG. 28 1909.0

THE CHRONICLE

503

Imports, £46,000 (of which £13,000 from France and for payment 4 84%@4 843', cotton for acceptance
£33,000 bought in the open market); exports, nil, and 4 85@4 8510 and grain for payment 4 85(0)4 853'g.
receipts of £288,000 net from the interior of Great
Britain.
The following gives the week's movement of money
to and from the interior by the New York banks.
The foreign exchange market was active and higher
Received by
Shipped by
Net Interior
this week. The immediate cause for this condition
Week ending Aug. 27 1909.
N. Y. Banks. N. 1. Banks.
Movement.
was the beginning of preparations for the London Currency
$7,880,000
$6,497,000 Gain $1,383,000
Gold
1,191,000
909,000 Gain
282,000
Stock Exchange settlement, which occurred on Wednes- Taal
gold and legal tenders
$9,071,000
$7,406,000 Gain $1,665,000
day, stimulating a rise in unofficial rates of discount.
With the Sub-Treasury operations the result is as
Manipulation of the New York market in the direction of an advance was another factor; bankers who follows.
had sold futures that would shortly mature, and also
Into
Out of
Net Change in
Week ending Aug. 27 1909.
Banks.
Banks.
Bank Holdings.
those who had outstanding finance or loan bills, sought
Banks' interior movement, as above_
$9,071,000
$7,406,000 Gain $1,665,000
exchange with which to meet these obligations, and an Sub-Treasury operations
28,900,000
30,700,000 Loss
1,800.000
insufficient supply was encountered. The rise in rates Total gold and legal tenders
$37,971,000 $38,108,000 Loss
135,000
early in the week was so rapid as to threaten exports
The following table indicates the amount of bullion
of gold to Argentina on London account, and this
in the principal European banks:
had a sentimental effect upon the market. Offerings
of commodity bills against grain and cotton were
Aug. 26 1909.
Aug. 27 1908.
Banks of
Gold.
Silver.
small, owing to the high prices for the staples, and
Total.
Gold.
p Silver. , Total.
4
£
London selling of Americans created a demand for England_ _ 40,276,789
LI
£
40,276,789 38,731,862
38,731,862
France
remittance which could not be readily satisfied. The Gerr .-- 148,170,96 36,131,640 184,302,600 129,042,287 36,194,915 165.237,202
Rtu anv_ 43,271,050 13,153,000 56,424,050 94,002,000 14,280,000 58,282,000
d.
8,970,000
8.066.000124,322,000
inquiry was most urgent for cables, indicating par- Aus.-Hunb 127,578,00 12,604,000 136,548,000 116,256,000 13,385,000 60,593,000
56,740.00(
69,344,000 47,208,00
Spain _ _
16,019.00( 31,788,000 47,807,000 15,694,
30,764.000 46,458,000
tially exhausted credits. There was also good buying Italy d.. 38,382,000 4,400,000 42,782,000 36,793,000 4,420,000 41,213,000
Nethlands 10,536,000 3,464,30
of long bankers' bills that were available for remitting Nat.Belg.a 4,270,667 2,135,333 14,000,300 7,705,700 4,164,200 11.869,900
6,906,000 4,054,667 2,027,333 6.082,000
Sweden __ 4,382,000
4,382,000 4,065.000
4,065,000
4,832,000 4,632,000
because of the facilities for discounting; some of these Switzeri'd. 4,832,000
4,632,000
Norway __ 1,774.000
1,774,000 1,651,000
1,651,000
sixty and ninety day drafts seemed to have been Total week 496,232.466112,648.2731608.878.739 449,835,516 113,301,448 563,136,964
1112,572.907 607,074,697 447,329,455 110,002,052 557,331,507
drawn in order to employ the proceeds in our loan Prey. week 494,501,790'
a The total of gold In the Bank of Russia includes the balance held abroad—
market for an extension, until the end of the year, of that is, the amount held for Russian account
in other Continental banks. The
proportion so held and consequently
statement is about
finance bills. After the middle of the week the rise one-tenth of the total this year, againstduplicated In theaaboveago.
about one-ninth year
b The Austro-Hungarian Bank
issued in Kronen
Heller
in exchange was less rapid, indicating possibly the Instead of Gulden and Kreutzer. Statement is nowthe former currencyandsterling
The reduction of
to
by considering the Gulden to have the value of
marketing of Canadian bills on London; there were Pounds was really no greater value than 20 cents, our cable80 cents. As the
Kronen has
correspondent in
London, In order to reduce Kronen
has altered the basis of conversion
also fairly large offerings of drafts that were traceable by dividing the amount of Kronen byto Pounds, of 20.
24 instead
d The division (between gold and silver) given in our table of coin and bullion In
tne
to speculative operations to take advantage of the it IsBanks of Italy and Belgium is made from the best estimates we are able to obtain;
not claimed to be accurate, as the banks make no distinction in their weekly
returns, merely reporting the total gold and silver; but we believe the division we
high rates ruling.
make Is a close approximation.
Compared with Friday of last week, rates for exchange on Saturday were 10 points lower for long
THE MONETARY COMMISSION'S WORK.
at 4 8505@4 8510,5 points higher for short at 4 8665@
Interest in the work of the Monetary Commission,
4 8670 and 5 points for cables at 4 8690@4 8695. On and in its plans for reform of our currency system,
has
Monday long rose 25 points to 4 8525@4 8535, short been partially revived during the past. week or
so by
15 points to 4 8680@,4 8685 and cables 20 points to a visit of the Commissioners to New York,
and by
4 8710@,4 8715. On Tuesday long was 15 points some general statements given out by
them regarding
higher at 4 8540@4 8550, short 5 points at 4 8685(4) the progress of their labors. As every one
is aware,
4 8690 and cables 5 points at 4 8715@4 8720. On the Commission's active work on the currency
question
Wednesday long was unchanged; short rose 5 points was entirely interrupted by the prolonged tariff
debate,
to 4 8690(0)4 8695 and cables 5 points to 4 8715@ which absorbed the attention and energies
of all mem4 8725. On Thursday long was 5 points higher at bers of the Commission. This,
incidentally, might be
4 8545@4 8550, short 10 points lower at 4 8680@ suggested as an illustration
of one disadvantage in
4 8695 and cables 5 points at 4 8710@4 8725. On Fri- entrusting to a purely
legislative commission a matter
day long was 10 and short and cables 5 points lower. of this sort. Had a body of competent
civilians been
The following shows daily posted rates for sterling included in its membership,
as was widely suggested
exchange by some of the leading drawers.
at the start, a good part of the work might have been
pursued throughout the summer. As the matter stands,
Mon., Tues., Wed., Thurs., Frt.,
Frt.,
Aug. 20 Aug. 23 Aug. 24 Aug. 25 Aug. 26 Aug. 27
it seems scarcely probable that a currency bill can be
Brown
160 days 4 86
86
86
86
86
86
Brothers
1Sight... 4 87%
submitted to the next session of Congress in any such
87%
87%
873.
873.
8739
160 days 4 86
Kidder,
86
86
86
86
86
\sight.. 4 87%
Peabody & Co
shape as to render feasible its discussion and enactment
87%
871
4
874
87
874
60 days 4 86
Bank British
86
86
86
86%
86
18ight_ 4 87%
North America
87%
87%
87%
87%
87%
before adjournment. Congress convenes next Decem160 days 4 88
Bank of
86
86
86
86
86
Wight_ 4 87%
Montreal
87%
87%
873
873
873.
ber, and will have a good deal of work on its hands
160 days 4 86
Canadian Bank
86
88
86
88
86
ISIght__ 4 87%
of Commerce
87%
87%
87%
87%
87%
in other directions. The still more serious obstacle
160 days 4 88
Heldelbach, Ickel86
86
88
86
86
ISIght„ 4 87%
heimer & Co
87%
87%
87%
87%
87;9
160 days 4 86
to legislation during this coming session, it appears
Lazard
86
86
86
86
86
,Sight__ 4 87%
Freres
87%
87%
87%
87%
87%
160 days 4 86
Merchants Bank
86
86
86
to us, would lie in the difficulty of even framing and
86
86
of Canada
1Sight— 4 87%
87%
87%
87%
873
87%
presenting a complete bill early enough in the session
Rates of exchange on Friday were 4 8535@4 8545 to ensure its proper consideration.
for long, 4 8675@4 8685 for short and 4 8705@,4 8710
The Monetary Commission has now been in existence
for cables. Commercial on banks 4 85@,4 8510 for a year and a half, and it is fairly in order to ask
and documents for payment 4 84%@485. Cotton exactly what it has,already accomplished. In answer



504

THE CHRONICLE

[VOL. Lxxxix

to this question it must be said, first, that the present styled a "bank of banks"—that is to say, a bank whose
Commission has gone about its work in a way which stock shall be largely held by existing national banks,
few, if any, Congressional commissions of the past which shall conduct the necessary banking operations
have been willing to adopt. It began in the summer of the Government, but which, so far as concerns
of last year with an exhaustive investigation, con- its outside business, shall be in general restricted to reducted by means of a visit of its sub-committee to discounting of notes and dealing in foreign exchange.
Naturally any such proposition, so far as at present
Europe, of the existing banking and currency conditions in the important European States. The infor- entertained, will be open to substantial subsequent
mation thus collected is of very great value, not only as modification. It does not appear even to have been
economic and historical data, but as providing a solid officially adopted as a "working basis." This makes
ground from which specific conclusions may be drawn it impossible at the present moment to disand applied to our own system. All of the great bank- cuss the merits of the plan. We have hithing institutions of Europe were visited, and the cordial erto in these columns set forth the possible obreception granted by them to the American Com- stacles which would surround the general plan of a
missioners made possible a particularly thorough ex- central bank. Public mistrust of an institution with
amination of the several systems in their various very extensive powers; the chance that politics
would intrude into its management; the danger of •
ramifications.
In this inquiry the Reichsbank at Berlin, the Bank overworking our Treasury officials, if they were to
of France, the Bank of England, the London joint- participate actively in its management, and the
stock banks, the French credit institutions and numer- conceivable opposition of existing country banks either
ous other European banking institutions played a to a monopoly of bank-note circulation by this central
naturally important part. Supplementary to this, institution, or to the establishment of branches by it,
the Commission has arranged for, and has now nearly are considerations which cannot be wholly overlooked.
ready for publication, a series of monographs dealing We do not and have not at any time regarded these
not only With the various banking and currency sys- obstacles as final; but they must inevitably have a
tems, but with the resultant money market conditions considerable bearing on the shape which the Comand episodes throughout Europe. The volumes com- mission's plan shall itself eventually take. There is
prising these data, and comprising also a comprehen- no• reason to suppose that these considerations are
sive history of our own peculiar banking experience in being overlooked by the Commission.
In some respects the most promising indication of
its various vicissitudes, will provide a library of inforwe believe, has never success in the task on which the Monetary Commission
mation on the subject such as,
before been compiled. The thoroughness and authori- has set out lies in the obvious signs of the times that
tativeness of this work has been largely made possible the present bank-note system is outliving its usefulthrough the active co-operation of the Secretary of the ness. Within a very few weeks we have had forcible
Commission, Professor A. Piatt Andrew of Harvard illustration of the clumsiness and anachronism of our
bond-secured bank-note plan. The Secretary of the
University, lately appointed Director of the Mint.
and, through it, the general public Treasury has actually found himself forced to modify
The Commission
are thus assured of sufficient information as to the his plans for financing the Panama Canal because of
problem before them. This, however, is not form- the complications threatened in connection with the
ing constructive legislation for our own country, national currency. Experience has taught that when
and, as a matter of fact, it appears to be conceded that the Government borrows heavily for such purposes
the Commissioners have not yet formulated any distinct the bank-note circulation is instantly increased, wholly
and final plan upon the subject. The most encourag- irrespective of the needs of trade. At present that
ng fact under this preliminary work is the deep interest would be a distinct misfortune.
Nor is this all; for another wholly different problem
which has been taken in the inquiry by men whose
will give them the best opportunity for bring- has arisen, based on the difficulty of protecting the
position
ng the matter under favorable auspices before the market for the outstanding two per cents—which now
consideration of Congress. In many other similar make up most of the collateral against bank notes—
episodes this advantage has been lacking. This time when the Government loans authorized under the
both Senator Aldrich, Chairman of the Senate Finance authority of the past summer's tariff bill shall bear
Committee, and Congressman Vreeland, the new 3% interest instead of two. It has been broadly intiChairman of the House Banking and Currency Com- mated by Treasury officers that it may be necessary,
mittee, have devoted themselves with very great in order to do no injustice to banks now owning the
thoroughness to the study of the subject, and have, two per cents deposited against outstanding circulawe are glad to believe, approached it on other grounds tion, that the 3% bonds shall be discriminated against
than the purely political considerations which on in the facilities granted them for use as security as
many occasions of the sort have been apt to surround circulation. A relatively heavier tax on circulation
based on the three per cents has been the expedient
the work of a Congressional committee.
We are inclined to believe, from such information as most generally suggested.
It is not impossible that an expedient of this sort
has reached us, that the individual opinions of the
would be an entering wedge in controlling the use of
Commission's members have thus far tended strongly
toward the central bank as a solution of the problem. Government bonds for purposes of this sort. If the
We do not suppose that the ideas of the Commissioners Government, by the use of its taxing power, may
have yet been sufficiently harmonized to make possible discriminate against the use of certain new bonds
a sketch of the kind of institution most likely to be for procuring additional bank circulation, it might,
favored. One of the propositions almost certainly some time hereafter, seek the power of prescribing
will be for such an institution as has been roughly absolutely what• Government bonds shal4 and what



AUG. 28 1909.]

TIIE CHRONICLE

505

nWe do not
The object of this peculiar campaign is to demo
Shall not be accepted for such purposes.
r for them
as a desirable strate to the citizens that it will be bette
suggest this possible issue to the case
d serve to turn the water works plant over to a private comoutcome; on the contrary, even though it shoul
ion of the pany, which proposes to supply pure water on terms
its purpose in restraining outright inflat
distinctly as advantageous as those now in use and to give the
bank-note currency, we should regard it as
d be city a large bonus for the privilege. In further supunfortunate that such discretionary power shoul
r those port of the proposition attention is directed to the
placed in the hands of public officers. Unde
ncy extravagance in the municipal management, and the
circumstances we should depart as far from a curre
the argument is made that by private operation and the
automatically expanding and contracting with
the application of business principles to the management
needs of trade as we are driven from it through
issued of the water-works plant, such an economy would be
habit of banking institutions to use all newly
able to
effected that the private corporation would be
Government loans for that purpose.
d derive a
,
dividends, while the city woul
What this phase of the situation clearly shows pay ample
has become revenue, instead of having a deficit annually.
however, is that a change of some sort
'
irapidly
The promoter aptly directs attention to the exper
inevitable, and is approaching all the more
had with its gas plant
operations ence which Philadelphia has
because our Government's loan market
things as regards When the gas works were publicly operated they were
are creating an intolerable state of
only a burden annually upon the taxpayer, and the conthe currency. Twenty years ago it was comm
would sumer had to pay $1 50 per 1,000 cubic feet for gas of
declared that the bank-note currency problem
which inferior quality. Under the lease to the United Gas
be solved through extinction of the public debt,
ruction Improvement Co. the service is the best, the quality
would have made absolutely necessary the const
being of the gas has been improved, the price to the conof another system. The problem is to-day
avenue of sumer is $1 per thousand and the city derives an
forced upon us from exactly the opposite
results annual revenue of over one million dollars. The adapproach. We trust, however, that the good
zed, vantage of private operation over municipal operation
which were anticipated in 1888, and not then reali
of a public utility is forcibly demonstrated by Phila
will be achieved under the present stimulus.
gas plant.
delphia's experience with its
It has been a part of the promoter's policy to show
ia,
the dire financial straits of the city of Philadelph
PHILADELPHIA'S CREDIT.
the publicity which he has
in Phila- and it is just possible that
A very unusual situation is developing
effect upon the
ed with interest by in- given to this subject has had some
delphia which will be watch
issue of bonds which Philaknown pro- city's credit. For the
vestors, bankers and taxpayers. A wellrs, to whom
d by New England delphia sold last week,the New York banke
moter, who is said to be backe
two previous issues, did not appear
a "sky- were awarded the
capitalists, has rented two suites of rooms in
cate bid for the entire
to organize a very efficient as bidders. No.New York syndi
scraper" and has proceeded
were some small scattering offers.
rs,who are loan, although there
corps of statisticians, accountants and write
considerably below
about the resources, ex- The award was made at a premium
digging up all sorts of facts
obtained for other similar loans.
vagance, that which had been
penditures, bonded debt, municipal extra
which the waterpertaining to the Quaker Thus it is possible that the notoriety
waste and incompetency
given to Philadelphia's financial
obtained, works crusade has
City. Pamphlets presenting the facts thus
upon the city's
tl
esting manner, accompanied by affairs has had some detrimentt effect
prepared in an inter
al city credit.
tables and extracts from the reports of the sever
There does not seem the slightest reason, however,
been compiled and are periodically
departments, have
why investors should feel any apprehension about
circulated among the taxpayers.
a their holdings of Philadelphia city bonds.
The promoter announces that he has undertaken
stratWhile the city's debt aggregates about $90,000,000,
campaign of education for the purpose of demon
ipal opera- the city owns real estate which is valued at over $100,
ing to the citizens of Philadelphia that munic
le real estate is assessed at $1,356,869,a
ment to the 000,000. Taxab
tion of the system of water works is detri
the assessed valuapamphlets it is undertaken to show 657,an increase of $41,600,000 over
taxpayer. In the
year. Philadelphia is a thriving community.
ded tion of last
that the water works, on which has been expen
bly show a population of
their establishment,are a burden to The Census of 1910 will proba
$83,000,000 since
While the city's textile industries felt
the inhabitants. Out of a total funded debt of about 1,500,000.
$31,- severely the bad effects of the recent panic, the textile
$80,000,000, the water loans aggregate nearly
in which are employed about 30,000 operatives,
000,000, or about 38%. The point is made that the mills,
materially aided by the new Tariff Act and the
city's borrowing capacity is nearly exhausted and if it will be
ers are anticipating much better times.
were not for the large amount of water bonds outstand- manufactur
extensive industries, like the Cramps' shiping the city would be able to issue all the bonds re- Other
and the Midvale Steel Works have been doing
quired for the purpose of providing needed schools yard
r than the average factory during the past two
and for other contemplated municipal improvements bette
a years. The Baldwin Locomotive Works, employing
which are very much desired and which are not of
19,000 men when operating to their full capacity,
communistic nature.
ns have been doing very little since the panic of 1907,
It is set forth that the annual cost to the citize
publicly but they are gradually resuming operations as new
of Philadelphia of the publicly owned and
all orders are placed on the books. There has been a
operated water works is $2,800,000 in excess of
amount of building in the residential sections
net receipts. This item includes an average of about great
the city and large operations are still in progress,
$2,000,000 which is appropriated yearly for exten of
the number of dwellings exceeding 308,000. Real
sions.




506

THE CHRONICLE

estate values in the central portion of the city are
steadily increasing. During the period of depression
there have been no failures of magnitude in any
branch of trade. The community is in a normal
and healthy condition. As a municipality its assets
and resources are such that there should be no apprehension about the ability of the city to pay both
principal and interest of all its obligations.

[VOL. Lxxxix.

ceedingly low average rates. In the fiscal year covered by the present report, the average rate realized
on all freight carried, both coal and merchandise,
already low, declined 5% more, and was only 4.10
mills per ton per mile. On its coal traffic, which forms
considerably over 60% of its entire tonnage, the road
Was able to realize an average of only 3.19 mills per
ton mile, which also is a reduction from the previous
year. From this latter it is evident that the road is
obliged to haul a ton of freight over three miles to
THE CHESAPEAKE & OHIO REPORT.
earn a single cent. With the rate so low, the task has
The Chesapeake & Ohio Railway is among the first been to build up an enormous volume
of tonnage and
of the companies of any considerable size to submit to bring efficiency of operation
s up to the highest
its annual report for the fiscal year ending June 30. point. The object has been
to diminish transportation
Perhaps more interest attaches to the report on the cost per unit of service, and
at the same time create
present occasion than in previous years. In the a respectable amount of
profits made up of a large aginterval since the issue of the annual statement for gregate of exceedingly small
units of profit. Developthe twelve months immediately preceding, new inter- ment has been along these
lines in all recent years, ests have come in control, the property now being a and is to be continued, as
we have already seen, in the
Hawley road. Study of the present report shows no same direction.
change in the policy of administering the property,
The income statement for the twelve months makes
however. For instance, the aim still seems to be an encouraging showing. Stated
in brief, gross earnto attain greater efficiency in management, albeit ings increased $787,445,
while expenses at the same
the results already achieved are quite remarkable, time were diminished $819,902,
giving an improvement
and the policy of developing the property also con- in net of no less than
$1,553,386. The increase in
tinues to be steadfastly pursued.
fixed charges was only $325,645, and accordingly the
During the year under review about 22 miles of available net income for 1908-09
amounted to $4,012,double track were added and 19 miles of sidings. It 127, as against only $2,784,38
6 in 1907-08. • The inalso appears from the report that, besides the increase crease in gr9ss earnings resulted
entirely from an addiin equipment made during the twelve months, 507 tion of $1,313,902 to the freight
revenues. In the
steel gondola cars have been purchased for delivery passenger earnings there was falling
a
off of $638,524,
the present month. Furthermore, the board of di- but this falling off ig in a, measure
misleading, because
rectors has ordered the purchase of 3,500 additional comparisons are with the
extraordinary passenger
steel gondola cars, and also 35 freight locomotives. business for several months in the preceding
fiscal year
Upon delivery of the equipment contracted for, the due to the Jamestown Exposition.
company will have in service, it is stated, 20,000 steel
It deserves to be noted that aggregate gross earnings
coal cars, with a capacity of 50 tons each—in other from all sources and also aggregate
net earnings for
words, will have coal cars capable of carrying a million the twelve months were the largest
in the history of
tons of coal. All this suggests that the standards the company. Business depressio
n unfavorably afinaugurated by the Pennsylvania Railroad when in fected the gross earnings the
first half of the year, but
control of the propertY are to be maintained. On there was a substantial recovery
the latter half. With
the other hand, it seems reasonable to assume that reference to the decrease in the
operating expenses,
the road under the new management will be less re- this evidently does not mean any
impairment of the
stricted as to traffic—that is, will possess greater free- physical standard of efficiency. In
the previous fiscal
dom in the distribution and interchange of traffic with year, when all the roads of the country for
a part of
connecting lines.
the time still had traffic congestion to contend with,
Very noteworthy evidence is furnished by the re- the properties obviously could not be operated
to
port of the development of greater operating effi- advantage. Furthermore, labor being in under-supply,
ciency. The road has long held a unique record for it was impossible to hold it to a rigid account
or to
its large train-load. The progress made in that direc- bring it up to a full standard of efficiency. In
both
tion during the past year adds still further to the road's these particulars conditions were wholly changed
durdistinction in that respect. The average load in the ing 1908-09, and a consequent lowering of
operating
case of revenue freight was added to no less than 54 cost was both normal and natural.
tons, bringing the train-load up to the superb figure
In June of the present year dividends of the Chesaof 675 tons. Including company freight, the average peake & Ohio, which had been only 1% annually
for a
load was over 700 tons—in exact figures, 707 tons. number of years, were changed to 1%
quarterly,
There are exceedingly few roads in the country that putting the stock on a 4% basis. On the basis
of the
can lay claim to so high a train-load. The truth is, late year's income account, the 4% dividends
can he
however, the success of the property depends entirely easily met. Only 2% was paid out of that
year's inupon the ability to move traffic in large loads.
come, calling for $1,255,814, but in addition $1,005,000
We have often stated the problem that confronts was paid on account of principal of
equipment trusts,
the management of this property. The traffic of the $212,449 was paid for extraordinary
expenditures for
road consists chiefly of bulky, low-class freights— improvements and $19,400
was contributed to the
mainly minerals—which have to be hauled long dis- Greenbrier Railway sinking fund.
Altogether. the
tances and which will not bear even moderately high call for the 2% dividend
and for the other purposes
transportation charges.' Consequently, the problem mentioned was only
$2,492,663. On the other hand,
is, and always has been, how to net a profit on ex- the available net income
for the twelve months, we




AUG. 28 1909.1

THE CHRONICLE

50'7'

existing
The proviso relates
have already seen, was $4,012,127, leaving, therefore, I corporations as electto "every such corporation"—that is, to suchthe Act,
to avail themselves of the privileges of
a balance to the credit of profit and loss of $1,519,- and it requires them after April 1st 1910 to conform their business and
transactions to the provisions of this Act. It is not very clear just why
464, which is more than sufficient to pay another 2% this proviso should have been inserted as the section provided that
from the time when the election is recorded the bank shall be govon the stock
erned by the
But in the light of the plain pro-

provisions of this Act.
visions of Sections 35 and 91, I am of the opinion the language contained
in the proviso must be restricted to such existing institutions as shall
elect to avail themselves of its provisions.
To give to it the effect claimed by the defendant Is to defeat the plain
and specific provisions of Sections 35 and 91, which is not permissible.
For these reasons, I conclude that the Act does not authorize the defendant to make or enforce this requirement against the plaintiff, and it is,
therefore, unnecessary to consider the question of the constitutionality of
the Act. The demurrer will be overruled:

ITEMS ABOUT BANKS, BANKERS AND TRUST CO.'S.
—The public sales of bank stocks this week aggregate 177
shares, of which 157 shares were sold at auction and 20 shares
at the Stock Exchange. The only transaction in trust company stock was a sale at auction of 50 shares of stock of the
Long Island Loan & Trust Co. of Brooklyn at 312, an adIt is stated that an appeal will be taken by Superinvance of 12 points over the price paid at the last previous
tendent Seymour.
sale, in April.
—In a letter sent to the State bankers of Kansas on the
.
Low. High. Close. Last previous sale
Shares. BANKS—New York.
388
Aug. 1909-3873i 20th inst., State Bank Commissioner J. N. Dolley seeks to
388
388
•5 City Bank, National
188
188
188
Aug. 1909-188
•15 Commerce, Nat. Bank of
invoke their support of the State law guaranteeing deposits,
160
160
Mch. 1909-185
152 Mercantile National Bank___ _ 160
and refers incidentally to the movements of those opposed
107 N 107k 107k Aug. 1909-105
5 Northern Bank
TRUST CO MP AN Y—Brooklyn.
to the measure. Since the filing of the friendly suit brought
April 1909-300
312
312
50 Long Island Loan & Trust Co_ 312
by the Attorney-General early this month to forestall any
• Sold at the Stock Exchange.
action which might be instituted by opponents of the law;
—An error which is reported to have been made in the a committee composed of W. J. Bailey, J. R. Burrow, W. H.
compilation of the new consolidated laws of New York Burks and C. Q. Chandler has been appointed in behalf of
which went into effect on Feb. 17 last may, it is stated, have certain Kansas banking interests, to take charge of litigation
the effect of repealing the tax on stock transfers. The on the part of the Kansas banks, and in furtherance of pro.
,
question as to the right of the State to collect the tax has ceedings to test the constitutionality, of the law, contribuarisen through the incorporation in the newly Revised tions have been asked of the banks generally by the commitStatutes of the stock transfer tax of 1906, which was declared tee. Mr. Dolley's letter, in treating of the opposition moveto be unconstitutional in 1907, in place of the 1905 law ment, says:
governing the tax, the validity of which was upheld in a To the State Banks of Kansas:
Those opposed to the guaranty law are putting forth every effort to
decision also rendered in 1907. Under the 1905 law a tax
organize against it. They are even trying to get the State banks to sign
of 2 cents is imposed "on each $100 of face value or fraction contracts and subscribe money and join them in carrying out their designs
thereof," while the 1906 law, which was held unconstitu- to defeat the law, which law a majority of the depositors of the State banks
majority of the State
tional, required a 2-cent tax on each share of $100 of face of Kansas are strongly in favor of, and a very largehas been fully verified
banks themselves are strongly supporting it, which
value or fraction thereof." In view of the situation brought by the applications to participate under the law now on file in this departabout through the error, the matter is said to be occupying ment.
W. H. Burks and C. Q. Chandler have issued
W.J.
the attention of the Governors of the New York Stock a letter Bailey, J. R. Burrow,of Kansas, under date line of Aug. 18,appealaddressed to the banks
advisability ing to many of the State banks for a large sum of money to assist theta in
Exchange, who,it is stated,are debating as to the
defeating the law under the guise that they wish to learn whether the law
of determining that the tax need not be paid.
is constitutional and legal; but they fully intend to defeat the law if it is
at all possible for them to do so. They say that at a large and well-attended
meeting of the State and national bankers they were elected as a committee.
If there has been a large and well-attended meeting of State and national
bankers for this purpose, I have failed to learn of it.
I will say that some of the State banks have had a summons served
upon them; but I would advise that they do not join the enemies of the
law at this time and thereby assist them in breaking down the law. I will
be pleased to advise them what steps, if any, to take when the time comes.
and it is not necessary for them to do anything until so advised.
This suit was commenced against the Bank Commissioner and the State
Treasurer to test the constitutionality of the law in the State Supreme
Court, the highest court in the State. In connection with the suit it was
necessary to serve all the banks which had not made application to participate under the guaranty law, for the reason that they might have some
interest in the suit. This service of summons and writ will not injure the
Interests of a single bank; but it is for the purpose of giving these banks
accurate knowledge of the object of the suit and permit them to assist in
defending or opposing the law as they deem best.
It seems to me that we have arrived at a point where it is necessary for
the State banks to choose as to whether they will support the organization
which is assaulting in every way at its command the guaranty law, or
whether they will support this department and the expressed wish of the
people of Kansas, who are their depositors. Every dollar contributed to
the aforesaid organization will be used for the purpose of breaking down
In construing an Act, of course the whole Act is to be construed together,
and destroying the guaranty law and the insurance of bank deposits.
so that every possible effect shall be given to all of its provisions, and that
Very truly yours,
one part shall not defeat the operation of another. It seems from a reading
J. N. DOLLEY, Bank Commissioner.
of the Act, that Sections 2, 18, 35, 36 and 91 are the only sections of this
—The following program has been arranged for the meetAct which refer to the matter, and construing them together I am of the
opinion it does not require banking institutions which were incorporated ing of the Trust Company Section of the American Bankers'
prior to the passage of the Thomas Act to increase their capital to comply
Association, to be held at Chicago next month:
with the provision3 of Section 2 of that Act.
Meeting to be called to order by the President of the Section at 10 a. m.
With regard to Section 36, on which the. decision of the
Prayer by the Rev. Herman Page, Rector of St. Paul's Church, Chicago.
seemed mainly to hinge, Judge Biggar is quoted
question
Address of welcome on behalf of the Trust Companies of Chicago by EA.
as follows:
Potter, President American Trust & Savings Bank, Chicago, Ill.
Section 36 provides that existing banks may, "it they so elect," avail
Reply to Address of Welcome and Annual Address by:the President,
themselves of the privileges and powers conferred by the Act. This is op- A. A.Jackso n.
Report of the Secretary, by Philip S. Babcock.
tional with existing banks. This section further provides that "after April
Report of the Excutive Committee, by Oliver C. Fuller, Chairman.
1st 1910 every such corporation or association shall In all respects conform
transactions to the provisions of the Act." It is this
Report of Committee on Protective Laws, by Lynn H.Dinkins, Chairm'n.
their business and
Address by the Hon. James S. Sherman, Vice-President of the U. S.
language which gives rise to the claim that it is mandatory upon all such
Address—Daniel S. Remsen, of the New York Bar, "Post-Mortem Adinstitutions after April 1st 1910 to increase their capital stock so as to con_
form to the provisions of Section 2 of the Act. Construing this language ministration of Wealth."
Address—Edward T. Perine, President of the Audit Co. of New York;
with the provisions of Sections 35 and 91, and in the light of the rule which
requires that effect be given to all the provisions of the Act, and that it "Trust Company Resources and Revenues—A Five-Year Summary."
The following subjects have been selected as of interest to the Section,
shall not be so construed as to make one part defeat another, I am of the
opinion this provision of Section 36 is not susceptible of the construction and it is hoped that they may promote active discussion by the members
put upon it by the Superintendent of Banks. Section 36 provides that when present, who are urged to speak freely upon them:
I. "Limitations of the Functions of a Trust Company."
existing banking institutions elect to avail themselves of the provisions o
II. "Duties and Responsibilities of Trustees under Corporate Mortthis Act, they shall signify their election to the Secretary of State, and that
gages."
when such election is recorded by the Secretary of State in his office, such
"Value and Responsibility of a Safe Deposit Department."
association shall thereafter have all the privileges and powers conferred
IV. "Mortgages as Investments for Savings Funds of a Trust Company.'
by the Act, and from that time shall be governed by its provisions.

—An opinion involving the capital requirements under
the Thomas Banking Law of Ohio has been rendered by
Judge T. M. Biggar, of the Common Pleas Court, which is
contrary to the views of Assistant Attorney-General W. H.
Miller, who a year ago decided that the law in that regard
must be construed as applying to existing institutions.
The Act, which was passed at the 1908 session of the Legislature, requires trust companies to have a capital of $100,000, 50% of which must be paid in at the start. Mr. Miller
held that institutions incorporated prior to its enactment
must conform to these requirements—conformance thereto
to be made by April 1 1910, the date provided in the law.
The present ruling was given in the case of the American
Trust & Savings Co. of Zanesville, which sought to restrain
the State Superintendent of Banks, B. B. Seymour, in
accordance with the finding of Mr. Miller, from forcing it to
increase its capital to $100,000 by April 1910. Judge
Biggar in passing on the case says:




508

THE CHRONICLE

General discussion of such other topics as may be proposed.
Roll-call of States, to be answered by the Vice-Presidents of the Section
In brief reports of the conditions concerning trust companies as existing In
their several States.
Election and Installation of officers.
Unfinished business.

The Trust Company Section convenes on Wednesday,.
.Sept. 15.
—As stated in • these columns two weeks ago, the New
York Bankers' Special Train to the Convention of the
American Bankers' Association at Chicago will leave New
York, via the New York Central Lines, as a section of the
"Twentieth Century Limited. at 3:30 p. m. Saturday,
"
September 11th. The equipment will be the very best and
will include Dining, Observation Compartment and Drawing
Room, Sleeping, Club car and Ladies' car. The Special
will be retained for the entire tour,which after the Convention
will include a side-trip to Yellowstone Park. Those desiring
to omit the Yellowstone tour havefl the advantage of the
special train to Chicago, returning direct on convenient
trains. Applications for reservations or additional information may be addressed to Charles Elliot Warren, Chairman
of the Committee on Transportation and Arrangements,
Lincoln National Bank Building, this city; or L. F. Vosburgh, General Eastern Passenger Agent, New York Central
Lines, 1216 Broadway.
—Webb Floyd, heretofore Secretary and Treasurer of the
Mutual Alliance Trust Co. of this city, has been elected VicePresident of the institution, succeeding A. L. Banister, who
resigned rece'ntly. Mr. Floyd has also been elected to the
directorate. Frank V. Baldwin has been chosen to succeed
Mr. Floyd as Secretary and Treasurer. Mr. Baldwin was
for a number of years Cashier of the Commercial & Farmers'
National Bank of Baltimore, and has lately been Assistant
to the President of that bank. He retires from that post on
Sept. 1. He has an extensive acquaintance among the
Southern bankers and his connection with the Mutual Alliance Trust will no doubt add materially to its interests.
Mr. Baldwin has been a director of the company since last
November.
—A thorough investigation of the Windsor Trust Co.'s
connection with the Joyce loan matter, which certain of the
directors of the institution have urged, is provided for in
a resolution adopted by the board at a meeting on Wednesday. The resolution calls for the appointment of a committee of two, consisting of Theodore P. Shonts and August
Heckscher, "to investigate fully all the facts relating to the
Joyce transaction and such other matters as may be necessary to a thorough understanding of the situation, and report at an early meeting of the board:"
A reference to the transaction, in which the trust company is understood to have been interested only as a clearing
agent, was made in these columns last week. Sterling
Birmingham, ex-manager of the loan department of the
company, who is charged with misdemeanor in having accepted a fee in connection with the matter, was remanded
this week for hearing in Special Sessions and was released
under $500 bail. Donald L. Persch, against whom an indictment was returned last week as a result of the inquiry
institued with regard to the loan, has been released from the
Tombs under $50,000 bail; Walter L. Clark, against whom
an indictment has also been found, has furnished bail to the
amount of $20,000 and Charles Katz has given bail at
$25,000.
—J. M. Steere has been appointed Trust Officer of the
Girard Trust Co. of Philadelphia to succeed J. Snowdon
Rhoads, who resigns owing to ill health.
—The Philadelphia Trust, Safe Deposit & Insurance
Co. of Philadelphia is making extensive alterations and improvements in its building at Nos. 413, 415 and 417 Chestnut
St. A new balcony running around the entire main floor
has been added and a handsome large new skylight .has been
put in. The interior of the banking room is finished with
Formosa marble, from Japan, with bases, &c., of verde
antique, and the woodwork is of solid mahogany. This
old institution has a capital of $1,000,000, a surplus fund of
$3,500,000 and undivided profits of $451,225; the amount
of trust funds invested on June '1 1909 was $64,231,694 and
uninvested • $903,569. William L. DuBois is President,
Roland L. Taylor Vice=President and Edmund D. Scholey
Sedetary and Treasurer.




[VOL. Lxxxxx.

—The corporation tax clause embraced in• Sections 38
and 41 of the Payne Tariff Bill is being distributed in
pamphlet form by the Mellon National Bank of Pittsburgh.
—Another 5% dividend has been distributed to the depositors of the failed Allegheny National Bank of Pittsburgh, making an aggregate thus far of 60%. Both the city
and State were depositaries of the institution. It is stated
that the amount still owed the city, whose deposit was over
$1,500,000, is in the neighborhood of $621,000.
—Edward H. Brennan, President of the Central National
Bank of Wilmington, Del., died on the 22d inst. Mr.
Brennan was chosen to the presidency of the institution
several months ago, succeeding the late H. M. Lodge.
—The proposition to consolidate the Commercial National
Bank and the Bankers' National Bank of Chicago was ratified on the 20th inst. by practically all the stockholders of
the two banks. The consolidation is to go into effect on
Aug. 31, when the business of the Bankers' will be taken
over by the Commercial. As stated in our issue of July 17,
George E. Roberts will continue in the presidency of the
Commercial, and Edward S. Lacey, President of the Bankers', will be Chairman of the board of the enlarged bank.
—The stockholders of the Harris Trust & Savings Bank
of Chicago have been notified of their right to subscribe at
par to stock in the Harris Safe Deposit Co. in proportion to
their holdings in the bank. The safe deposit company,
which is to finance the construction of the new building of
the bank, has been organized with a capital equal to that
of the Harris Trust & Savings Bank—namely $1,250,000.
The officers of the new concern are Norman W. Harris,
President; Albert W. Harris and George P. Hoover, VicePresidents, and Edward P. Smith, Secretary and Treasurer.
—The Union Trust Co. of Chicago has prepared for distribution a meritorious booklet designed to exploit its trust
department, in which it submits convincing arguments
tending to prove the superiority of an institution of its
character over an individual in serving in trust capacities. sl
—A shortage is reported in the accounts of R. E. Stevenson, Cashier of the Rose City Bank of Little Rock, Ark.
The irregularity is said to have been made known to the
officials by the Cashier himself, who was stricken with paralysis on the 11th inst. and who, unable to speak, wrote the
word "short" on a piece of paper. An examination of the
books which followed is said to have revealed a deficiency,
which Vice-President Knox is quoted as saying will be in
the neighborhood of $10,000. It is stated that the shortage
will be met by the directors. Mr. Stevenson is bonded for
$5,000. The bank is reported as having a paid-up capital
of $30,000.
—The Union State Bank of Minneapolis has removed from
Washington Avenue to the remodeled building formerly
occupied by the Minneapolis Club at First Avenue South
and Sixth Street. The bank recently took action toward
increasing its capital from $50,000 to $200,000.
—The plans of the Des Moines National Bank of Des
Moines, Iowa, with regard to the establishment of the First
Trust & Savings Bank, will, it is stated, be held in abeyance
for several months. There is said to be a possibility that
instead of organizing the proposed institution, which was
to have had $60,000 capital, the officials of the Des Moines
National will enlarge the present bank by adding $200,000
to the capital, increasing it from $300,000 to $500,000.
—The Guthrie National Bank of Guthrie, Okla., it is
stated, is about to start as an adjunct the Bank of Indian
Territory. The new organization will operate in the same
building with the national bank and is said to be the first
State bank owned by a national to be opened under the
guaranty law; its establishment the "Dallas News" reports
was brought about .through the acquisition of an,old State
charter some years ago by the Guthrie National. In
according permission to operate the institution, the State
Banking Board, it is reported, would not permit a change in
the name. The capital of the new bank will be $50,000, and
it will be under the same management as the Guthrie
National, with U.. Guss, President; Robert Sohlberg,
Vice-President and,: Carl R. Havighorst, Cashier.
—At its annual convention on Oct. 6 and 7 the Kentucky
Bankers' Association will have as speakers George E. Roberts,

A.UG

28 19090

509

THE CHRONICLE

-The state546.
Breadstuffs Figures Brought from Page
nal Bank of Chicago, who
figures collected by
President of the Commercial Natio
ments below are prepared by us from
and Clark Williams, New the New York Produce Exchange. The receipts at Western
will discuss "Currency Reform";
day and
Banks, whose discourse
ports for the week ending last Satur
York State Superintendent of
vision." lake and river
York System of Bank Super
of the last three years have been:
will be on "The New
since August 1 for each
E. L. Hutchinson, PresiAddresses will also be delivered by Trust Co. of Lexington,
Rye.
Barley.
Oats.
I
Corn.
dent of the Lexington Banking &
- Flour. I Wheat.
Kentucky Receipts at
, General Counsel of the
bush.481bs. bu.56 lbs.
32 lbs.
Ky.; Kennedy Helm
lbs. bush. 60155. bush. 56 lbs. bush.
23,000
78,000
74 400
e, President Mitchell, Chicago _ _ _ _ bbls.196 6 1,212,000 1,648;450 3,127,500
180,34
10,000
78,000
97,500
Bankers' Association; J. N. Keho
159,500
71,050
26,873
A. Crabb, Milwaukee_ _
19,552
6,910
79,400
36,095
, Maysville, Ky.; and John
14,180
62,000
Duluth
188,980
Finch & Co.'s Bank
• 94,300
80,320
251600
536
6: 0
1
13,000
Bank of Eminence, Ky. Minneapolis.
333,500
45,500
Cashier of the Farmers' & Drovers'
Toledo
69,579
54,205
66,825
5,859
Detroit
923,282
be held in Louisville.
108,894
45,161
1,418
The convention will
5,000
Cleveland_ _ _
1,300
763,295
413,240
67,740 1,300,613
3,000
1,000
elected President of the St. Louis_ _ _
466,958
224,400
80,000
39,800
-Maj. John H. Leathers has been
154,500
to Peoria City.
0
258,50
1,735,650
Kansas
Co. of Louisville, Ky.,
Louisville National Banking
95,053
366,832
6,037,032
428,213 5,417,484 2,987,309 3,832,290 1,015,964 135,294
Harris. Maj. Leathers had
Tot.wk.'09
succeed the late Theodore
363,484 4,631,073 2,544,153
92,527
wk.'08
for twenty-four years. His Same wk.'07 325,265 5,002,550 2,553,559 5,394,257 356,620
Same
occupied the post of Cashier
heretofore an
C. Weaver Jr.,
Since Aug. 1
970,323 272,562
602
successor in that office is Ben
1,208,0781 18,387,193 8,961,795 14,724,993 1,833,276 344,361
1909
1,165,880 17,378,241 6,674,723 12,074,083
1908
854,269 284,555
Assistant Cashier.
1,391,098 24,506,794 10,888,604 15,820,
1907
Winston, Trustee of the
-At the request of James H.
Norfolk, Va., the Court on the
Traders' & Truckers' Bank of
ard ports for
Total receipts of flour and grain at the seabo
-trustees to act with him Tench. F.
20th inst appointed as co
n filed a deed the week ended Aug. 21 1909 follow:
institutio
11,
Tilghman and B. A. Banks. The
RK.
Barley,
Oats,
Corn,
Wheat,
Flour,
on the 9th ins. On the - i k,
,
bush.
bush.
bush.
of assignment to Mr. Winston
bush.
bbls.
of the depositors! Receipts at44,350
1,275
petition
567,300
82,175
483,700
148,710
12th inst. Judge Hanckel denied a
New York
1,000
79,023
10,631
64,664
29,551
receivers in lieu of the Boston
133,501
12,000
183,298
requesting the appointment of three
73,691
2,655
Philadelphia
101,500
58,092
377,445
45,265
5,344
Baltimore
22,826
32,408
trusteeship.
44,808
7,916
Richmond
153,000
100,000
National New Orleans *
352,100
23,517
McKee has been chosen Cashier of the
-H. S.
3,342
Newport News_ _ _
1,000
15,000
346,000
to succeed George Galveston
184
32,025
Bank of California, at Los Angeles,
4,076
9,182
253,048
dency of the new Mobile al
931,594
35,283
Montre
W. Fishburn, who resigned to take the presi
dent
52,349
11,457
342,331 1,311,382
2,783,609
Diego. Mr. McKee is Presi
371,351
14,404
Total week
66,585
Marine National Bank of San
287,021 1,460,135
301,977 4,378,254
formerly Week 1908
27,981,832 4227,864 562,492
National Bank of Long Beach, and was
1909_ 9,170,606 44,630,656 29,463,364 27,325,125 3066,392 1219,209
Since Jan. 1
of the First
,008 26,934,982
Los Angeles Trust Since Jan. 1 1908_10,390,497 58,352
Vice-President and Trust Officer of the
ports
through New Orleans for foreign
director of the
* Receipts do not Include grain passing
ion to being Cashier, he is also a
Co. In addit
of lading.
on through bills
National Bank of California.
ports for the week
The exports from the several seaboard
MngitsttB.env ending Aug. 21 1909 are shown in the annexed statement:
glitonetattiTommercia
Oats, ,10 Rye, Barley, Peas,
Corn, Flour,
Wheat,
bush
bush, bush.
.
bush,
bbls,
bush.
bush.
English Financial Markets-Per Cable
Exports from2,724
3,715
12,502 50,977
267,986
for securities, &c., at London, New York
4,798
17,193
The daily closing quotations
85,975
Boston
27,921
ws the past week:
64,960
Philadelphia
100
2,149
as reported by cable, have been as follo
1,918
504,000
972
ore
Baltim
London,
Mon.
Sat.
Week ending Aug. 27.
23%
d 23%
Silver, per us
84%
2% per cents..
Consols, new,
84%
For abcount
98.25
French Rentes (in Paris).fr_
884
Co_
Amalgamated Copper
10
bAnaconda Mining Co
1214
Atch. Topeka & Santa Fe_
10734
Preferred
12134
Baltimore & Ohio
96
Preferred
189%
Canadian Pacific
83%
Chesapeake & Ohio
162%
Chicago Milw. & St. Paul__ _
51
Denver & Rio Grande
89%
Preferred
374
Erie
55%
First preferred
444
preferred
Second
161
Illinois Central
EX- 1604
Louisville & Nashville
CHANGE 43
Mo. Kansas & Texas
CLOSED 77
Preferred
543
RR.of Mexico, 1st pref_(SPEC'L 23%
Nat.
HOLIed
Second preferr
DAY). 146
N. Y. Central & Hud. Riv
503.
n_
N. Y. Ontario & Wester
974
Norfolk & Western
934
Preferred
1614
Northern Pacific
72%
aPennsylvania
82
aReading Co
49
aFirst preferred
51%
aSecond preferred
%
425
Rock Island
1374
Southern Pacific
323.4
Southern Ity
74
Preferred
214
Union Pacific
11234
Preferred
78
U.S. Steel Corporation
1284
Preferred
21
Wabash
564
Preferred
7834
Extended 4s

Frt.
Thurs.
Tues.. Wed.
23 13-1623 13;16
23 9-16 23%
844
844
84 5-16 844
844,
844
84 5-16 844
98.223
98.174 98.174 98.20
85%
874
87%
884
9%
9%
10
104
1204
1204
121%
122c1
107
107
107
107%
1184
121k
1193
121%
96
96
96
96
19034
190
191
191(
823
83%
84%
84%
160
159
16234
163
484
49%
51
50%
88
89
894
894
35%
35%
36%
374
544
544
56
5534
444
444
444
453
1574
159
16034
161
156
156
158
159
41%
42%
434
434
77
77
77%
77
544
54%
54%
54%
23%
234
24
24
141
142
145%
1463
494
cm
5034
50%
954
964
97
97%
9334
934
934
934
1574
1594
1614
1614
71
714
72
72%
81
8134
8234
83
48%
494
494
494,
514
5134
514
5134
383.4
4134
4034
414
13134
13234
1354
138
3034
324
3134
3234
724
73
7334
734
2054
2074
212
2154
10534
109
112
11234
77
7834
7734
7934
12734
128
12834
1284
204
2134
22
22
544
56
574
574
78
7754
7834
7834

1,123,159

184
79,216

Total week_ _ _ _2,290,080
2,986,696
Week 1908

162,705 167,580
141,382 189,340

83,391
39,519

64,000

13,353

180,000

85,714
32,025

8,000
9,966

8,000
741

3,696
30,650

ts for the week and since
The destination of these expor
July 1 1909 is as below:

--Corn
Wheat
Since
Since.
Since
July 1
Week
July 1
Week
July 1
1909.
1909. Aug. 21.
21.
1909. Aug.
bush.
bush.
bush.
bush,
bbls.
232,167
7
440,931 1,100,756 4,500,485 102,85
253,646
75,286 1,188,130 3,224,632
38,466
898
32,206
1,194
88,696
278,760
58,930
154,825
5,290
50
8,478
3,922
13,388
812,251
5
4 2,290,080 7,757,323 162,70 2
781,60
496,037
141,38
1,237,745 2,986,696 16,556,631

Flour
Week
Exports for week and A ug.21.
bbls.
since July 1 to-United Kingdom__ 99,053
21,366
Continent
12,495
So. & Cent. Amer
30,732
West Indies
Brit. No. Am. Cols_ 3,934
Other Countries_

a Price per share. b £ sterling.

Traninerciat and Aliscellantonsgnus
-_
not
-Among other securities, the following, on.
Auction Sales.
tly sold at aucti

were recen
regularly dealt in at the Board,
Son:
Messrs. Adrian H. Muller Sr
By
Stocks.
Stocks.
7 National Bank of Commerce of130
20 Baker City (Ore.) Nat. Bank $56
Kansas City, Mo
Denver
234 Union N. Bk. ofBroken , Col.} lot 1 Colorado State Bank of Grand
Bow,'
$10 lot
2254 First N. Bk. of
Junction, Colo
Co_312
Neb
50 Long Island Loan & Trust
of Buffalo
102
734 First National Bank
ler Co
$500 lot 8 Crocker-Whee
_ 55
Wyo
1 BrOoklytt Academy of Music_ _1154
10 First National Bank of Puyall- lot 12 ,Union Typewriter 8% 2d pref.
$106
up, %Vasil
5 Northern Bank of New York _107%
1 First National Bank of Grand$55
152 Mercantile National Bank__ -160
'
Junction, Colo
5 Rock Isl. & Peoria Ry. Co. gu.145
6434
20 First National Bank of Cen- lot 10 Old Dominion Land Co
$80
tralia, Wash
Bonds.
Bk-$20 lot
12 Bloomfield (Neb.)StateSouth
Real Estate Co.
$250 Merriewold
80
10 First National Bank of
1st 6s, 1928
$25 lot
Bend, Wash



177

40,740
3,342
4,967
4,076
28,610

New Orleans
Newport News_
Galveston
Mobile
Montreal

Total
Total 1908

167,580
189,340

t and corn for the week
The world's shipments of whea
July 1 1909 and 1908 are
ending Aug. 21 1909 and since
shown in the following:
Corn.

Wheat.
Exports.

1908.

1909.
Week
Aug. 21.

Since
July 1.

Since
July 1.

1908.

1909.
Week
Aug. 21.

Since
July 1.

Since
July 1.

Bushels.
Bushels. Bushels. Bushels.
Bushels.
Bushels.
518,400
905,000
23,179,700 195,000
North Amer. 2,877,000 12,976,000 3,768,000 221,000 4,605,000 2,947,500
00 16,112,000
Russian.... 2,872,0
5,760,000 3,959,500
Danubian __ 1,328,000 4,608,000 14,478,000 2,679,000 26,543,000 15,099,500
Argentine - 384,000 9,984,000
696,000
Australian__ .312,000 1,688,000 3,112,000
960,000 16,336,000 1
Indian
168,000 1,240,000
0th. countes
,900
47,649,70013,129,000 37,813,000 22,524
Total ____ 8,901,000 62,944,000

afloat for Europe on dates
The quantity of wheat and corn
ws:
mentioned was as follo
Wheal.
United
Kingdom. Continent. , Total.
Bushels.
Bushels. Bushels.
000 29,580,000
Aug. 21 1909.. 18,320,000 10,960,111 30,160,000
1909.. 18,080,000 12,080,
Aug. 14
o
27,280,000
Aug. 22 1908_ 16,320,000 10,960, 00026,640,000
Aug. 24 1907.. 17,480,000 9,160,

Corn.
United
Kingdom. Continent

Total.

.1
Bushels. Bushels. Bushels
6,715,000 10,285,000 17,000,000
000 10,900,000 18,465,
7,565,
5,950,000 4,760,000 10,710,
7,240,000 6,180,000 13,320,0.00

'MO

THE CHRONICLE

[VOL. Lxxxix.

DIVIDENDS.
Statement of New York City Clearing-H
The following sliows all the dividends anno
ouse Banks.—The
future by large or important corporations: unced for the detailed statement below shows the condition of
the New
Dividends announced this week are print
York Clearing
-House banks for the week ending
ed in italics.
Aug. 21.
The figures for the separate banks are the
averages of the
Per
When
daily results. In the case of the totals,
Books Closed,
Name of Company.
Cent. Payable.
the actual figures
Days Inclusive.
at the end of the week are also given.
Railroads (Steam).
Alabama Great

Southern, pref
Ashland Coal & Iron Sty
Atlantic Coast Line Co.(Conn.)(guar.)
___
Baltimore & Ohio, common
Preferred
Boston & Albany (guar.)
Boston & Maine, preferred
Buffalo & Susq., pref. (quar.)(No. 29)..
Canadian Pacific, common
Common (extra)
Preferred
Chesapeake dr Ohio (quar.)
Chicago Mliw. & St. Paul. corn. &
pret_ _
Ctn. N. 0. & Texas Pac., pref. (guar.)._
Cleveland & Pittsb., reg. guar. (guar.
)._
Special guaranteed (quar.)
Cripple Crk. Central, pref.(quar.)
(No.15)
Fonda Johnstown & Clot'.. pre/.(quar.
)_ _
Illinois Central
Great Northern Iron Ore Proper
ties...Louisiana & Arkansas
Minn. St. Paul & S.S.M., corn.(No.
13)..
Preferred (No. 13)
Leased line certificates
Reading Company, first preferred
Southern Pacific, corn.(guar.)
Union Pacific, common (guar.(No. 12)..._
)
Preferred
Street & Electric Railways.
American Railways (quar.).
Brooklyn Rapid Transit-(quar.)
Chicago Railways, Series 1
Chippewa Valley Ry.,Lt. & Pow., pf.(qu.
Columbus(0.) Sty.. corn.(quar.)(No.
,
25
Elmira Water, Light & RR., prof
•Grand Rapids Ry., corn.(quar.)(No.
13
,Kaniia.s City Sty. & Light, pref.
(quer.
Northern Texas Elec. Co., corn.(No. )
1)
Preferred (No. 8)
Northwestern Elevated (Chicago),
pref.
Philadelphia Company, pref
Portland (Ore.) Ity.,Lt.&Power,
common
Rochester Ry. & Light, pref. (quar.
)
St. Joseph ity., Lt., Ht.& P.,
Seattle 1.:lectric Co., common corn. (qu.)
Preferred (No. 18)
Susquehanna Ry., Lt. & Power
Terre Haute Tree. & Light, , preferred
pref.
Whatcom Co. Ry.& Lt., pref.(No.
12)..
Banks.
Chemical Nattassel (bi-tnonthly)

3
50c.
234
3
2
2
3
1
3
35
2
1
334
134
134
1
1
134
334
$I
134
3
334
2
2
1;4
234
2

Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Oct
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sent.
Sept.

31 Holders of rec. July 24
25
10 Sept. 1 to Sept. 9
1 Holders of rec. July 310
1 Holders of rec. July 31a
30 Holders of rec. Aug. 31
1 Holders of rec. Aug.14a
1 Holders of rec. Aug. 21
30 Sept. 2
to
Oct. 6
30 Sept. 2
to
Oct. 6
1 5 pt. 2
,
to
Oct. 6
30 Holders of rec.Sept. lla
I Holders of rec. Aug. 11
1 Holders of rec. Aug.14a
1 Holders of rec. Aug. 10
1 Holders of rec. Aug. 10
1 Holders of rec. Aug. 19
15 Holders of rec.Sept. 10a
1 Holders ot rec. Aug. 2
15 Sept. 2 to Sept. 15
Holders of rec. Sept.
Oct. 16 Holders of rec. Oct. 16
Oct. 16 Holders of rec. Oct. 1
1
Oct.
1 Holders of rec. Sept.
Sept. It Holders of rec. Aug. 20
24
Oct. 1
Oct.
1 Sept. 14 to Oct. 17
Oct.
1 Sept. 14 to Oct. 17

134
1
$8
134
134
234
1
134
2
3
1
234
1

Sept. 11 Aug. 28 to Sept.
2
Oct.
1 Holders of rec. Sept.
Sept. 1 Holders of rec. Aug. 9
2
Sept. 1 Holders of rec. Aug.
Sept. 1 Holders of rec. Aug. 31
16
Sept. 1 Aug. 18 to Aug. 31
Sept. l Holders of rec. Aug.
Sept. 1 Aug. 20 to Sept. 15
1
Sept. 1 'Holders of rec. Aug. 30
Sept. 1 Holders of rec. Aug. 30
Oct. 18 Oct. 9 to Oct. 18
Sept
1 Holders of rec. Aug.10a
Sept. 1 Holders of rec. Aug. 15
Sept. 1 Holders of rec. Aug. 24
34 Sept. 1 holders of rec. Aug.
134 Oct. 15 Holders of rec. Oct. 15
1
3
Oct.
1 Holders of rec. Sent. 10
234 Sept. 1 Aug. 15 to Aug. 31
Aug. 31 Aug. 22 to Aug. 31
3
3
Sept. 1 Holders of rec. Aug. 20

134

234 Sept.

Trust Companies.
Citizens (Brooklyn)

1 Aug. 26

to

Aug. 31

We omit two ciphers (00) in all cases.
Banks.
003 omitted.

Capital. Surplus.

Loans.
Average.

Specie. Legals. Deposits. ReAverage. Average. Average. s've.

$
Bank of N. Y._
2,000,0 3,452,5 20,711,0 3,969,
0 1,395,
Manhattan Co_
2,050,0 3,567,7 37,255,0 10,126,0 1,616,0 19,472,0 27.5
0 44,850,0 26.1
Merchants' _ _ _ _
2,000,0 1,692,
Mechanics' _ _ _ _ 3,000,0 3,701,7 22,428,0 4,247,0 1,951,0 24,420,0 25.3
3 32,490,0 8,294,0 1,053,0 35,225
America
,0 26.5
1,500,0 5,178,4 29,048,7 6,597, 2,114,
3
9 32,090,3 27.2
Phenix
1,000,0
680,3
8,020,0 1,207,0
647,0
7,315,0 25.3
City
25,000,0 27,811,3 202,781,0 57,213,1 8,341,
Chemical
3,000,0 5,958,3 29,263,0 5,209,0 1,996,0 215,625,0 30.4
0 28,160,0 25.6
Merchants' Ex.
600,0
554,5
6,945,1 1,227,1
567,2
Gallatin
7,249,3 24.7
1,000,0 2,419,0
9,641,6 1,181,2
804,4
7,666,5 25.8
Butch.&Drove.
300,0
157,6
2,214,3
359,0
93,8
Greenwich __ _ _
2,009,6 22.5
500,0
755,1
7,258,3 1,805,4
200,0
8,184,1 25.2
Amer. Exch.- _
5,000,0 5,051,3 29,269,1 3,885,
Commerce
25,000,0 15,722,1 174,040,6 30,515 9 1,577,8 21,906,2 25.1
,7 ,633,4
Mercantile _ _
3,000,0 2,495,7 15,223,3 2,003,8 1,090, 159,080,1 25.2
3 12,135,4 25.4
Pacific
500,0
864,8
3,877,5
697,5
531,2
Chatham
3,838,8 32.0
450,0 1,024,4
7,513,5
889,0 1,264,7
People's
8,181,5 26.0
200,0
470,5
2,116,6
510,0
130,9
Hanover
2,398,6 26.7
3,000,0 10,747,5 69,858,7 13,963,1 7,002,
5 82,257,0 25.5
Citizens' Cent—
2,550,0 1,484,5 23,361, 5,245,
,
3
317,6 23,044,0 24.3
Nassau
500,0
435,8
6,000,9
642,6
978,5
Market & Fult'n 1,000,0 1,674,
6,612,7 24.5
0
8,000,0 1,276,0 1,218,0
Metropolitan _
8,275,0 30.1
2,000,0 1,309,
162,2 11,666,9 26.5
Corn Exchange 3,000,0 5,372,7 11,463,3 2,942,7
43,422,0 7,292,0 5,618,0 51,121,0 25.7
Imp. &Traders' 1,500,0 7,554,
5 26,831,0 4,483,
Park
3,000,0 9,792,8 90,248,0 24,970 0 1,757,0 24,800,0 25.1
,0 1,759,0 103,632,0 25.7
East River_ _
250,0
104,3
1,411,1
165,2
169,1
Fourth
1,503,9 22.2
3,000,0 3,399,6 25,670,0
Second
1,000,0 1,868,6 11,922,0 4,753,0 2,300,0 27,198,0 25.9
2,810,0
284,0 12,060,0 25.7
First
10,000,0 18,968,1 113,421,2
27,009,8 1,241,4 107,823,4 26.2
Irving F.xch _ _ _ 2,000,0
1,410,4 20,428,3 4,046,2 1,585,
Bowery
5 21,581,0 26.0
250,0
789,7
3,411,0
792,0
H. Y. County_ _
71,0
3,475,0 24.8
500,0 1,631,2
8,182,9 1,372,6
636,3
German-Amer _
8,350,4 24.5
760,0
650,2
4,162,6
827,8
Chase
216,7
4,054,9 25.7
5,000,0 6,655,1 83,358,9 19,114
,1
Fifth Avenue_ _
100,0 2,178,6 12,908,5 2,682, 5,174,7 93,602,1 25.9
5 1,049,8 14,646,9 25.4
German Exch.200,0
857,6
3,649,2
375,0
Germania
400,1
3,430,7 22.6
200,0 1,020,9
4,916,1
871,9
Lincoln
548,7
5,658,3 25.1
1,000,0 1,312,4 16,105,5 3,156,
2 1,265,0 17,487,8 25.2
Garfield
1,000,0 1,160,8
7,586,7 2,038,6
• 222,5
7,943,7 28.4
Fifth
250,0
475,4
3,155,5
654,1
276,4
Metropolis _ _ _
3,453,1 26.9
1,000,0 2,020,2 10,810,6
782.5 1,869,1 10,538,8 25.1
West Side
200,0 1,087,3
4,428,0 1,035,0
234,0
4,888,0 25.9
Seaboard
1,b00,0 1,782,1
19,728,0 4,535,0 1,866,0 23,608,0 27.2
Liberty
1,000,0
662,4 17,778,7 26.4
N. Y.Prod. Ex. 1,000,0 2,610,4 17,705,5 4,042,9
687,2
8,137,0 2,235,8
342,2
9,818,7 26.2
State
1,000,0
810,3 12,7:39,0 3,579,0
254,0 15,508,0 24.7
14th Street..._
1,000,0
320,1
5,451,4
931,5
455,8
5,820,4 23.8
Copper
2,000,0 2,675,0 21,987,6 6,738,
638,0 29,659,3 24.8
3
Coal & Iron_ _ _
1,000,0
303,9
5,437,0 1,012,0
420,0
5,483,0 26.1
Totals, aver_ 127,350,0
174,754,0 1351,995,7 296,372,7 76,003,7 1406,5
89,0 26.4
Actual figures Aug. 21_
1350,399,0 294,388,9 75,824,7 1402,608,3 26.4

234 Sept. 1 Holders of rec Aug. 18
Miscellaneous.
Amalgamated Copper (quar.)
34 Aug. 30 Holders of rec. July
American Coal
5
Sept. 1 Aug. 21 to Sept. 22
American Express (quar.)
1
3
Oct.
1 Holders of rec. Aug.
Amer. Lt. & Traction, corn. (stk
Sept. 30 July 21 to Aug. 31
American Locomotive, pi-e/. (quar,) dlv)- - 10
1
134 Oct. 21 Sept. 22 to Oct. 21
American Radiator, common
(quar.)134 Sept. 30 Sept.22 to Sept.30
On the basis of averages, circulation amoun
American Shipbuilding, common (quar.ted to $50,588,800 and United States
deposits (included In
Amer.Smelters Securities. pref. A.(quar. ) Id Sept. 1 Aug. 18 to
) 134 Sept
1 Aug. 24 to Sept. 1 $50,945,400; United deposits) to $1,623,900; actual figures Aug. 21, circulation,
Preferred B, (quar.) (No. 17)
States deposits, $1,622.600.
13.4 Sept. I Aug. 24 to Sept.
American Stogie, preferred
1
1
Sept. 1 Holders of rec. Aug. 14
Amer. Sugar Ref., corn. & pref.(quar.
The State Banking Department also
134 Oct.
2 Holders of rec.
American Tobacco, common (quar. ). _
now furnishes weekly
)__.234 Sept. 1 Holders of rev Sept. in
Aug. 14 returns of the
Common (extra)
State banks and trust companies unde
734 Sept. 1 Holders of rec. Aug. 14
American Writing Paper, preferred
r its
1
Oct.
1 Holders of rec.
charge. These returns cover all the
Associated Merchants, common (guar.
). 134 Aug. 31 Aug. 27 to Sept. 15
institutions of this class
Common (extra)
Aug.
% Aug. 31 Aug. 27 to Aug. 31 in the whole
Borden's Condensed Milk, pref. (quar.
31
State, but the figures are compiled so as
134 Sept. 15 Sept. 5 to Sept.
)—
to
Butte Elec. & Pow., com.(q
15 distinguis
uar.)(No.20) 134 Oct.
1 Holders of rec. Sept.
h between the results for New York
Preferred (quar.) (No. 33)
134 Nov. 1 Holders of rec. Oct. 15
City (Greater
Butterick Company (quar.)
15 New York)
34 Sept. 1 Holders of rec. Aug.
and those for the rest of the State, as per
Celluloid Company (guar.)
14
the
134 Oct.
1 Holders of rec. Sept. 14 follo
Central Leather, preferred (quar.
wing:
)
134 Oct.
1 Sept. 4 to Oct. 1
O'hilds Company, common
2
Sept. 10 Sept. 5 to Sept. 10
Preferred (guar.)
STATE BANKS AND TRUST COMPA
NIES.
134 Sept. 10 Sept. 5 to Sept. 10
Consolidated Gas, N. Y.(quar.)
1
Sept. 15 Holders of rec. Aug. 18
Diamond Match (guar.)
2
Sept. 15 Holders of rec. Aug. 31
State Banks
Eastman Kodak, common (quar.
Trust Cos.
State Banks
Trust Cos.
Week ended Aug. 21,
)
234 Oct.
1 Holders of rec. Aug. 31
in
Common (extra)
in
outside of
outside of
5
Sept. 1 Holders of rec. July 31
Greater N. V. Greater N. V. Greater N. V. Greater N. V.
Preferred (quar.)
134 Oct. lb Holders of rec. Aug. 31
l
• Federal Mining & Smelting, pref.
(quar.)
Sept.
Holders of rec. Aug. 27
General Asphalt, pref.(quar.)
(No.
25,975,000
General Chemical. common (quar. 0)_. 134 Sept. 1 Aug. 21 to Aug. 31 Capital as of April 28....
59,675,000
8,598,000
7,725,000
)
1
Sept. 1 Holders of rec. Aug. 21
General Electric (quar.)
2
Oct. 15 Holders of rec. Sept. 4a Surplus as of April 28....
37,306,000 173,921,500
Internat. Harvester, pref. (qu.)(No.
10;316,230
9,780,676
10)
Sept. 1 Holders of rec. Aug. 10
International Nickel, common
(No. 1)... 1
Sept. 1 Aug. 11 to Sept. 1 Loans and Investments_ _ 301,887,500 1,127,000,900
International Silver, pref.
84,872,400 130,822,400
Change from last week_ —2,690
(quar.)
134 Oct.
1 Sept. 18 to Oct. 1
Internat. Smelt. & Ref.(quar. (No.
,600 +12,239,100
—4,800
+244,600
)
1)_
134 Sept. 1 Aug. 24 to Sept. 1
Lord & Taylor, preferred
3
Sept. 1 Aug. 25 to Sept. 1 Specie
51,100,600 125,809,700
Kings County El. Lt. & P.(qu.)
Change from last week_
(No. 38) 2
Sept. I Holders of rec. Aug. 20
Mackay Companies, corn.
+1,403,500 +1,147,800
(guar.)(No.17)1
Oct.
1 Holders of rec. Sept.11a
Preferred (guar.)(No. 23)
1
Oct.
1 Holders of rec. Sept.11a Legal-tenders dr bk. notes
25,457,800
Michigan State Telephone, corn.
14,118,100
Change from last week_
(quar.) 134 Sept. 1 Aug. 19 to Sept. 1
01,400
+126,800
Preferred (guar.).
134 Nov. 1 Oct. 19 to
National Biscuit, pref. (quar.)
Nov. 1
(No. 46)_
Wse Aug. 31 Holders of rec. Aug.17a Deposits
352,837,400 1,289,848,200
Nat. Enamel & Stamping,
90,923,800 141,067,800
Change from last week_ —2,306
pref.
National Lead, common (quar. (quar.). 1% Sept 30 Sept. 11 to Sept. 30
,600 —2,237,700
+51,200
—327,800
)(No. 23) 134 Oct.
1 Sept. 11 to Sept. 14
•Preferred (quar.) (No.
Reserve on deposits
71)
Sept. 15 Aug. 21 to Aug 24
98,115,500 147,887,000
Niles-Bement
19,869,600
-Pond, common
Change from last week_
20,929,500
134 Sept. 20 Sept. 12 to Sept. 20
+411,200
Philadelphia Electric (quar.) (guar.)._
—8,600
+689,400
—608,000
134 Sept. 11 Holders of rec. Aug. 20
Quaker Oats, common (quar.)
134 Oct. 15 Holders of rec. Oct. 4 P.C. reserve to deposits_ _
28.2%
Common (extra)
16.6%
22.6%
Percentage last week
15.4%
Oct. 15 Holders of rec. Oct. 4
34
28.0%
Preferred (quar.)
16.9%
22.6%
15.8%
134 Aug. 31 Holders of rec. Aug. 18
Quincy Mining (guar)
Sept. 20 Aug. 22 to Aug. 25
$1
Railway Steel Spring, pref.
+ Increase over last week. — Decrease from last week.
(guar.)
134 Sept. 20 Sept. 8 to Sept. 20
Republic Iron &Steel,
pref.(quar.)(No.30
134 Oct.
1 Holders of rec. Sept. 23
Note.—"Surplus"
Preferred
1 Holders of rec. uly 31 cludes, for both trustincludes all undivided profits. "Reserve on deposits" infib Oct.
Sears, Roebuck & Co.,
companies and State banks, not only cash Items, but
134 Oct.
1 Holders of rec.
Sloss-Sheffield Steel &pref. (quar.)
due
amounts
Iron, corn. (quar.) tx Sept. 1 Holders of rec. Sept. 15 law from reserve agents. Trust companies in New York State are
Standard Oil (q uar.)
required by
Atig.20a
to keep a reserv
$6
Sept. 15 Holders of rec. Aug. 20 to location as showne•proportionate to their deposits, the ratio varying according
Union Stock Yards, Omaha
below. The percentage of reserve required is
(guar.)
A ug.. 6
134 Sept. 1 scpt 212 to
UnUed Bank Note Corp.,
the aggregate of deposits, exclusive
computed on
pref. (quar.)._ _ _
1% Oct.
1
t
United Cigar Mfrs., pref.
Oct. 1 thirty days, and also exclusive of of moneys held in trust and not payable within
(quar,)
time deposits not payable within 30
Holders of rec. Aug. 25 sented by certificates,
134 Sept.
United Dry Goods, preferr
and also exclusive of deposits secured by bonds days. repreed (quar.). _ _ _
134 Sept. 1 Aug. 26 to
U.S. Cast Iron Pipe &
of the State
Fdy., pref.(quar.) 134 Sept. 1 Holders of rec. Sept. 1 of New York. The State banks are likewise required to keen a reserve
U. S. Envelope, preferr
Aug.21a according to location,
varying
ed
Sept. 1 Aug. 15 to Sept. 5 of deposits, exclusive but in this case the reserve Is computed on the whole amount
3
United Stales Leather,
of deposits secured by bonds of the State of
pref.(guar.)
134 Oct.
1 Sept. 4 to Oct. 1
New York.
U. S. Steel Corp., corn,
34 Sept. 30 Sept. 10 to Sept. 30 Reserve Required for Trust Companies
Preferred (quar.) (No(quar.) (No. 23)
—Trust Cos.—
—State Banks—
and State Banks,
134 Aug. 30 Aug 6 to Aug 30
Utah Copper Co.(guar.) 33)
Total
Of
Total
(No.5)
0
50c. Sept. 30 Sept. 18 to Sept. 30
Welsbach Company
Reserve
which Reserve
Sept. 1 Holders of rec. Aug. 18
$2
which
Location—
Required. in CaSh.Required. in Cash.
BrooklynManhattan 0Bough(w
i3 r orough
a Transfer books not
15%
15%
25%
15%
lthout branches in Manhat.)_15%
lull, payable %%.Oct.closed. b Declared an%, being accumulated dividends in
10%
1 1909 and 1% each Oct. 1 from 1910 to 1915,
20%
10%
d Declared 4%. payable 1%
inclusive. Other Boroughs(without branches in Manhattan)
each Sept. 1 and Dec. 1 1909 and Mch. 1 and June
5%
15%
15%
0%
2
15
1
17g%
5
••••4.9143.— Deemed -7
ro
1 Any Bough with branches In Manhattan
-%,--rayable -In quarterly installments
.
Elsewhere 111 State




134

134

134

10%

5%

15%

8%

511

THE CHRONICLE

AUG. 28 1909.1

-Below is a summary of
Boston and Philadelphia Banks.
to present
The Banking Department also undertakes
totals of the Clearing-House banks of Boston
banks and the weekly
separate figures indicating the totals for the State
Clearing and Philadelphia.
ies in the Greater New York not in the
trust compan
We omit two ciphers (00) in all these figures
in the table below, as are
-These figures are shown
House.
Capital I
the ClearingLegals. Deposits. a Circu- Clearings.
Specie
Loans•
also the results-both actual and average) for
and
Banks.
lation.
Surplus.
we have combined each correHouse banks. In addition,
ng an aggre- Boston.
$
137,035.0
sponding item in the two statements,thus affordi
214,675,0 25,097,0 4,792,0 265,913,0 7,542,0
companies in the July 31__ 40,300,0 217,249,0 23,652,0 4,864,0 272,092,0 7,566,0 171,902,3
Aug. 7_ 40.300,0
0
gate for the whole of the banks and trust
23,599,0 4,735,0 269,971,0 7,555,0 149,210,3
Aug. 14_ - 40,300,0 216,846,0
0 7,569,0 147,155,
Aug. 21__ 40,300,0 216,648,0 24,203,0 4,578,0 266,017,
Greater New York.
TRUST COMPANIES.
' NEW YORK CITY BANKS AND
-House State Banks cfc Total of all
-House Clear.
Clear.
Trust Cos. not Banks& True
Banks.
Banta.
Week ended Aug. 21.
-H. Aver. Cos. Average.
in C.
Average.
ActualFigures
Capital f Nat. Banks 1
i June 23. ) 127,350,000
Surplus 'State Banks
April 28._ 1 174,754,000

I

1

$

$

$

Phila.
July 31._
Aug. 7._
Aug. 14..
Aug.21..

127,350,000

69,700,000

197,050,000

174,754,000

182,845,100

357,599,100

273,791,0
273,789,0
275,418,0
275,384,0

56,315.0
56,315,0
56,315,0
56,315,0

110,329,2
133,780,7
121,515,6
145,645,0

324,116,0 16,522,0
324,774,0 16.471,0
326,196,0 16.490,0
326,231,0 16,467.0

79.245,0
79,801,0
78.856,0
77,887,0

other banks." At Boston
a Including Government deposits and the item "due to 21, against $2,009,000 on
00 on Aug.
Government deposits amounted to $2,002,0
Aug. 14.

-The following are
Imports and Exports for the Week.
York for the week ending Aug. 21; also
the imports at New
y:
totals since the beginning of the first week in Januar

5,700 1,218,719,000 2,570,714,700
Loans and investments 1,350,399,000 1,351,99 200, +11,815,400
+3,079,200
-8,736.
Change from last week -6,168,200
FOREIGN IMPORTS AT NEW YORK.
2,611,409,400
1,402,608,300 1,406,589,000 a1,204,820,400 -6,521,400
1907.
Deposits
1907.
1908.
I
1909.
-14,620,000 -18,070,900 4-11,549,500
For week.
Change from last week
90
428,500,300
296,372,700; 132,127,600
$2,994,153 $2,693,301 $4,040,907 $3,193,0 6
294,388,900
Dry Goods
Specie
9,543,38
+1,128,300 -3,615,800 General Merchandise
9,586,617 11,260,323
-4,744,100
12,085,810.
Change from last week -4,304,700
476
98,753,700
322,750,000
76,003,700
$15,079,963 $12,279,918 $15,301,230 $12,736,
75,824,700
Total
Legal-tenders
-2,335,500
+39,200
700
Since January 1.
Change from last week -2,504,600 -2,374,
091 $121,710,908 8102,285,379
8109,105,639 $75,457,
995
527,254,000 Dry Goods
372,376,400, c154,877,600
437,507,708; 312,916,052 451,198,209 378,138,
General Merchandise
Aggr'te money holdings 370,213,600 -7,118,800
+1,167,500 -5,951,300
Change from last week -6,800,300
$572,909,11718480,424,374
i
$546.673,347,5388,:373,143
Total 33 weeks
Money on deposit with
26,988,300
26,988,300
other bks. & trust cos.
-1,228,40
-1,228,400
Change from last week
sive of
The following is a statement of the exports (exclu
181,865,900 554,242,300
372,376,400
370,213,600
Total reserve
-7,179,700
of New York to foreign ports for the
-60,900
specie) from the port
Change from last week -0,809,300 -7,118,800
Precentage to deposits
18.1%
26.49%
week ending Aug. 21 and from Jan. 1 to date:
26.42%
requiring reserve
18.5%
26.66%
26.63%
EXPORTS FROM NEW YORK FOR THE WEEK.
Percentage last week

1

1

20,729,150

19,561,525

Surplus reserve

week.
+ Increase over last week. - Decrease from last
reserve depositories
a These are the deposits after eliminating the item "Due from this item included,
City"; with
and other banks and trust companies in New York of $3,507,400 from last week.
d to $1,402,979,400, a decrease
deposits amounte
are "net" both for the average
In the case of the Clearing-House banks, the deposits this amount State banks held
and the actual figures. b Includes lyink notes. c Of
companies $139,927,800.
$14,949,800 and trust

1906.
1907.
1908.
1909.
$10,095,553 $11,918,878 112,711,008 $12,467,591
383.448,942 400,753,250 392,771,630 369.56.5,032
$393,544,495 $412,672,128 $405,482,638 $382,022,623

For the week
Previously reported
Total 33 weeks

s of
The following table shows the exports and import
21
at the Port of NeN'v York for the week ending Aug.
use banks specie
The averages of the New York Clearing-Ho
and for the corresponding periods in
companies and since Jan. 1 1909,
combined with those for the State banks and trust
and 1907:
outside of the Clearing House compare 1908 EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
in Greater New York
follows for a series of weeks past:

Loansand
iVeek
Ended. Investments. Deposits.
-June 26_
July 3..
July 10.July 17_
July 24..
July31..
Aug. 7..
Aug. 14..

2,492,260,6
2.517,226,0
2,528,727,9
2,523,184,8
2;535,951.3
2,551,022,4
2,563,916,2
2,570,714,7

2.538,999,1
2,569,534,6
2.585,868,5
2,581,866,5
2,594,113,3
2,604,154,9
2,616,185.2
2,611,409,4

Tot. Money Entire Res.
Holdings. on Deposits

Specie.

Legals.

436,103,6
438,660.7
439,321,7
437,970,9
437,311,3
437,042,8
434,345,5
428,500,3

3
102,260,0
8 9
101. 81.
101.716.9
104,503,7
101,681,2
101.904,6
101,907,0
98,753,7

538,303,6
540,542,6
541,038.6
542,474,6
541,902,5
541,947,4
536,252,5
527,254,0

567,737,3
570,475.4
572,772.6
572,739,3
570,710,3
569,955,0
564,823,3
554,242,3

Gold.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries

is the
Reports of Non-Member Banks.--The following
ion of the non-member banks for the
atement of condit
e daily results.
week ending Aug. 21, based on averag
all these figures.
We omit two ciphers (00) in

Banks.

Capital.

Surplus.

Loans,
Dise'ls
and
Investments.

N. Y. City.
Boroughs 0/
Man.& Brx,
228,2
Wash. Irts 100,0
149,6
200,0
Century
249,4
400,0
Colonial _ _ _
439,7
300,0
Columbia _
182,7
Fidelity _ - 200,0
684,2
500,0
Jefferson_
284,2
250,0
Mt. Morris
200,0
318,7
Mutual _ _
402,2
100.0
Plaza
93,8
23d Ward.. 200,0
960,4
Un.Ex.Nat. 1,000,0
100,0
439,9
Yorkville _
241,5
New Neth- 200,0
142,0
Bat.Pk.Nat. 200,0
314,2
300,0
Aetna Nat_
01
Borough
Brooklyn.
524,3
200,0
Broadway _
787,0
Mfrs.' Nat. 252,0
933,9
Mechanics'_ 1,000,0
954,5
Nassau Nat. 750,0
598,5
Nat. City- 300,0
141,8
200,0
North Side_
Jersey City.
400,0 1,230,6
First Nat
720,5
Huil.Co.Nat 250,0
372,9
200,0
Third :Vat_ _
Hoboken.
626,1
220,0
Nat_ _
First
244,3
Second Nat. 125,0

Legal
Tender
Specie. and
Bank
Notes.

Deposit withClearAgent.

Net
Other
Banks, Deposits.
&c.

1,274,0
1,615,6
4,521,4
5,867,0
914,2
3,291,4
2,612,8
3,894,3
3,941,0
1,763,2
8,034,6
3,984,7
1,047,0
1,191,7
1,976,7

70,0
133,0
38,6 230,7
653,9 367,2
491,0 463,0
64,8
87,0
8,2 408,7
39,1
480,8
29,5 619,0
323,0 447,0
47,3
148,3
760,8 1,275,0
47,8 791,6
74,0
220.0
:33,5
199,1
32,4
428,6

224,0
86,1
562,9
432,0
104,8
145,3
389,2
515,2
088,0
258,0
166,4
326,8
164,0
45,1
226,3

1,308,0
04,8 1,884,5
810,6 6,342,4
6,675,0
932,2
131,2 3,159,0
69,2 3,435,0
5,2 4,487,9
5,041,0
2,058,0
8,076,9
251,4 5,267,9
25,0 2,021,0
1,086,5
20,7 1,846,4

3,030,9
6,076,3
11,258,4
6,188,0
4,121,0
1,650,4

334,7
23,0 490,2
874,4
673,9 114,1
307,9 1,423,8 1,147,5
893,0
272,0 528,0
873,0
126,0 561,0
407,0
67,7
140,0

425,5 3,951,3
170,9 6,816,1
274,2 14,360,6
6,188,0
212,0 5,526,0
221,1 2,244,6

380,3 2,521,7
34,3
229,5
435,6
119,7

416,0 6,564,4
333,6 2,902,3
52,0 2,211,1

123,1
63,9

58,3 1,944,7
324,5 2,761,0

4,567,4
2,948,8
1,800,4

:316,7
166,7
52,5

2,454.8
2,331,8

102,9
73,2

10,8
77,9

93,287,8 6,304,4 8,771,1 12,237,5 3,905,2 109091,8
Tot. Aug.21 8,147,0 12,266,0 93,890,6 6,271,1 9,040,2 11,811,4 3,797,61109279,9
Tot. Aug.14 8,147.0 12,266,0
6,383,0 9,020,1 11,878,7 3,595,2 109524,9
Tot. Aug. 7 8,147,0 12,266,0 93,803,8




Imports.

rports.

IES IN

COMPAN
COMBINED RESULTS OF BANKS AND TRUST
GREATER NEW YORK.
We omit two ciphers (00) in all these figures.

Week.

SitweJan.l.

;StriceJan.l.

$13,958,120
13,881,232
2,031,195
5,000
11,250,000 42,214.440
4,030,195
$1,250,000 $76,120,182
8,000 47,141,400
1,112,069 33,221,752

Total 1909
Total 1908
Total 1907

Week.

Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries

$624,890 $26,515,907
51,100 2,966,150
9,647
105,297
2,146
28,029
8675,990 $29,627,236
787.530 27,770,286
1,154,119 30,321,258

Total 1909
Total 1908
Total 1907

$80
65,147
6,132
12,431
10,743

$198,108
2,137,876
8,308
548,104
370,103
1,641,816
1,487,921

$94,533 $6,392,236
306,674 12,636,942
44,979 6,934,120

$5,328
7,839
25,330
2,462
15,700

$206,793
6,317
51,315
96,371
1,523,819
702,400
724,255

$56,659 $3,311,270
46,099 2,338,023
63,099 1,506,274

$64,915
Of the above imports for the week in 1909,
an silver coin.
were American gold coin and $7,000 Americ
were AmeriOf the exports durin the same time, $1,250,000
coin and -----were American silver coin.
can gold

F4an1ang and *,'inanciat.
institutions and investors copies
We shall be plersed to furnish to
of our special circular describing
43 RAILROAD BONDS
e
Listed upon the New York Stock Exchang

Spencer frask & Co,
NEW YORK
WILLIAM AND PINE STS..
Branch offices: Chicago. III.. and Albany. N. Y.

MOFFAT & WHITE
BANKERS
Members New York Stock Exchange
THE ROOKERY
5 NASSAU STREET,
CHICAGO
NEW YORK
Banking and Exchange of every
description In connection with

IMPORTS AND EXPORTS

International Banking Corporation
. NEW YORK
NO. 60 W1LL STREET
Capital & Surplus. $6.500,000
Branches at Home and Abroad.

Special facilities for Travelers
In all parts of the World.

512

•

THE CHRONICLE

Xianiters' tli azette.
Wall Street, Friday Night, Aug. 27 1909.
The Money Market and Financial Situation.
-Chief interest
in financial circles this week has centered in the return of
E. H. Harriman from abroad. The stock markets failed
to
respond to the favorable reports concerning his
health, and
a general liquidating movement set in with disastrous
results to prices, the roads in which he is the dominatin
g influence showing the largest declines.
All the ordinary factors in the general situation
appear to
Crop prospects remain good on the whole,

be favorable.

notwitl
-istanding excessively high temperatures in
certain
Reports of railway earnings likewise
continue
good and indicate more liberal expenditures for
equipment
and improvements than heretofore. Finally, accounts
concerning the steel industry reflect a continuation of the
progress
which has been noticed of late.

sections.

[VOL. Lxxxix.

The following were the rates for exchange on New York
at the under-mentioned cities to-day: Savannah, buying,
50c. per $1,000 discount; selling, 75c. per $1,000 premium.
Charleston, selling, $1,000 per $1,000 premium. New Orleans Bank, 75c. per $1,000 discount; commercial, $1 per
$1,000 discount. Chicago, 30c. per $1,000 discount. St.
Louis, 10c. per $1,000 discount. San Francisco, 50c. per
$1,000 premium.

State and Railroad Bonds.
-No sales of State bonds were
reported at the Board this week.
Bond values have suffered in the general shrinkage of
prices on the Stock Exchange, though, naturally, to a much
less degree than stocks. Indeed, with the exception of
Union Pacific and Southern Pacific, declines in most
cases
have been confined to fractions.
United States Bonds.-Sales of Government bonds at the
Board this week were limited to $10,000 4s registered,
1925,
,
/
4
at 1163 and $5,000 4s coupon, 1925, at 118. The following
are the daily closing quotations; for yearly range see third

A favorable event of the week, which has not
received page following.
the consideration which it deserves, is the decision
of, the
U. S. Circuit Cdurt at Chicago making permanent
Interest Aug. Aug
the ,
'
Aug. Aug. A ug. Aug.
Periods
21
23
junction granted last November restraining the
24
25
26
27
Inter-StLitiNI
2s, 1930
registered Q-Jan *1003 *1003% *1003% *1003% *t
Commerce Commission from enforcing its order
•
%
*100%
reducing 25, 1030
coupon Q-Jan *1003% *1003% *1003% *1003 *1)
*100%
%
35 1908-18,
registered Q
rates of freight from the Atlantic seaboard to Missouri
-Feb *10
*101 *1013% *1013% , 1% *101%
1.11
River Is, 1908-18
coupon Q
-Feb *101 *101 *1013% *1013% *11 1% *101%
1908-18_ _ _ _small coupon Q
points. This order was like several others which the
3s,
-Feb
Com- 4s, 1925
registered Q
-Feb *116
1163 *1163% *1163% *1 63% *116g
%
mission has sought to enforce in different parts of
1925
coupon Q
-Feb *118 *118 *118 *118 *1 8
the 4s, 1936.Panama
118
2s,
Canal regis Q
-Feb *1003% *looq *loom *1003% *11 0% *100%
country, and if upheld by the courts would have revolution
-Nov *1003% *1003% *1003% *1003% *11 0% *WO%
- Is, 1938_Panama Canal regis Q
ized the principle of rate-making in the United States.
The open market rates for call loans at the Stock
Railroad and Miscellaneous Stocks.
Exchange
-There has been conduring the week on stock and bond collaterals have
ranged tinued liquidation on the Stock Exchange and a further
from 2 to 23/2%. To-day's rates on call were 23@23/2%. sharp decline in prices. The
return of E. H. Harriman
Commercial paper quoted at 4% for 60 to 90
-day endorse- from abroad did not have the stimulating effect expected.
On the contrary, the Harriman properties have been the
ments, 43/2@ % for prime and 4 to 6 months' single
,5
names.
weakest features in the list.
The Bank of England weekly statement on
Thursday
Union Pacific and Southern Pacific
showed an increase in bullion of £334,192 and the
led in the decline, the
percentage
former losing about 7 points from last Friday's close
of reserve to liabilities was 53.11, against 52.54 last week.
and
The rate of discount remains unchanged at 23/2%, as
the latter about 53/b points. Union Pacific preferred has
fixed
suffered a drop of 5 points. New York Central is off about
April 1. The Bank of France shows a decrease of
1,100,000
francs gold and an increase of 2,175,000 francs silver.
33/2 points and Illinois Central 23/2 points. The remainder
of the list shows losses of from 1 to 2 points.
NEW YORK CITY CLEARING-HOUSE BANKS.
For daily volume of business see page 522.
The following sales have occurred this week of shares
1909.
not
1908.
1907.
represented in our detailed list on the pages
Averages for
Differences
Averages for Averages for
which follow:
week ending
from
week ending week ending
Aug. -1.
previous week.
Aug. 22.
Aug. 24.
STOCKS.
Sales
Range for Week.
Range since Jan. 1.
Week ending Aug. 27.
for
Capital
127,350,000
126,350,000 129,400,000
Week.
Lowest.
Highest,
Lowest.
Highest.
Surplus
174,754,000
161,127,100
Loans and discounts_ _ 1,361,995,700 Dec. 8,736,200 1,286,591,300 161,407,400 Alice Mining
1,088,152,000
1001 $2 Aug 26 $2 Aug 26 $2 Feb $25 May
Circulation
4
50,586,800 Inc.
685,700
55,175,600
Chicago Great West,corn
50,165,400
500 3 Aug 23 33% Aug 25
% July 113% Jan
Net deposits
1,406,589,000 Dec. 18,070,900 1,388,134,900 1,048,383,600 Comstock Tunnel
1,800 26c. Aug 24 26c. Aug 26 21c. Apr 30c. Jan
U. S. dep.(Inch above)
1,623,900 Inc.
5,000
9,254,200
27,804,200 General Chemical
125 95 Aug 27 95 Aug 27 61
Specie
Jan 95
. 296,372,700 Dec. 4,744,100 331,266,700 203,036,800 Keokuk & Des Moines
Aug
200 8 Aug 25 9 Aug 21
5
Legal tenders
Bich 10
Aug
76,003,700 Dec. 2,374,700
78,915,000
69,035,500 Knickerbocker Ice, pref.
100 68 Aug 23 68 Aug 23 60
May 68
Aug
Lake Shore & Mich Sou_
12308 Aug 24308 Aug 24 300
May 20
May
Reserve held
372,376,400 Dec. 7,118,800 410,181,700 272,072,300 M St P & S S M-sub25% of deposits
351,647,250 Dec. 4,517,725 347,033,725 262,095,900
scrip recta 3d paid
10014054 Aug 21140% Aug 21 130
May 403% Aug
Pref sub rects 3d paid
100161 Aug 26 161 Aug 26 1473 July 161
Aug
Surplus reserve
%
20,729,150 Dec. 2,601,075
63,147,975
Leased line certificates 1,200 903% Aug 25 91
9,976,400
Aug 23 89
July 91% Aug
Ontario Silver Alining
4001 syi Aug 25 354 Aug 26 3
Aug 53% Jan
Surplus, excl. U.S. dep
21,135,125 Dec. 2,590,825
65,461,525
Wayne & Chic
16,927,450 Pitts Ft
21174 Aug 26174g Aug 27 1733% Mch 175
Apr
RR Securities-Ill Cent
stock trust certificates
Note.
-The Clearing House now issues a statement weekly showing the total
1851 91 Aug 23 91 Aug 23 883% Jan 933% May
United Cigar Mfrs, pret_
of the actual figures on Saturday morning. These figures, together with
100110 Aug 23 110 Aug 23 99
Jan 110
May
. 300j120 Aug 25 123 Aug 27 115
of separate banks, also the summary issued by the State Banking the returns U S Leather, preferredMch
Mch 128
Department Vulcan Detinning
showing the condition of State banks and trust companies not reporting
1001 isg Aug 26 1554 Aug 26 6
Feb 20 June
to the
Preferred
100 68 Aug 21 6854 Aug 21 45
Clearing House, appear on the second page preceding.
Jan 7354 June

Foreign Exchange.
-The market was strong this week,
influenced by a short interest, by a scarcity of bills, and also
by manipulation for a rise; the demand was most urgent
for cables.
To-day's (Friday's) nominal rates for sterling exchange
were 4 86 for 60
-day and 4 873/2 for sight. To-day's (Friday's) actual rates for sterling exchange were 4 8535@4 8545
for long, 4 8675(4)4 8685 for short and 4 8705@4
8710 for
cables. Commercial on banks 4 85@,4 8510 and documents
for payment 4 843 804 85%. Cotton for payment
/
4 84%@
4 843/2, cotton for acceptance 4 85@4 8510 and
grain for
payment 4 85@4 853/8.
To-day's (Friday's) actual rates for Paris bankers'
francs
were 5 183/80_45 183/8 for long and
5 16%a@5 16%d for
short. Germany bankers' marks were 94 15-16@,95
for
long and 953-@
,95 5-16d for short.
Amsterdam bankers'
guilders were 40.22@40,24 for short. Exchange at
Paris on
London, 25fr. 173c.; week's range, 25fr. 18c. and
25fr. 17e.
low.
The week's range for exchange rates follows:
Long
Sterling. Actual
High
4 8545
Q4 8550
Low
4 8505
Q4 8510
Paris Bankers' Frana3High
5 18%d
445 18%
Low
5 18%a
@b 18x
.
Germany Bankers' Marks
High
44 95%
95
Low
94 15-1S Q 93
Amsterdam Bankers' Guilders
High
Low

Short
(414 8695
04 8670

14 8715
14 8600

15 16%d
15 163-4a

Q5 16%
Q5 16Nd

1
1

1
I

95 5-16
953%

Q 95%
I
Q 95 5-16d

I
1

40 22
40 20

Q 40 24
44 40 22

Less: a 1-16 of 1%. d 1-32 of 1%. h 3-32 of 1%.
Plus: k 1-16 of 1%. x 1-32 ot 1%. y 3-32 et 1%.




-Cables

14 8690
14 8665

Oh4 8725
Q4 8695
,

Outside Market.
-Trading in "curb" stocks has been in
diminishing volume this week while prices, in sympathy
with the slump on the Exchange, showed, a sagging tendency,
though changes have been slight. Boston Consolidated from
15% rose to 153/2 and dropped to 15. Butte Coalition advanced from 253 to 26, but reacted and ends the week at
253/8. First National moved up from 6% to 63/2, then
down
to 5%, and finally recovered to 63. Greene Cpmanea improved from 93/2 to 9
this in a reaction to 9%.
/ but lost
3
4
Miami, after a gain of half a point to 16%, dropped to
153/2,
but closes to-day at 15%. A point advance in Nevada
Consolidated to 243/2 was followed by a fall to
23%, the
close to-day being at 23 . Ohio Copper rose from 4
/
3
4
13-16
to 53/8 and sold back finally to 4 15-16. United
Copper
common moved up from
to 113/2 but weakened and
103
ends the week at 1078
/
. Giroux went up from 94s to 10%
/
3
and down to 9%. Dull conditions were also experience
d in
the industrial department. American Tobacco sold up
from
435 to 448 but sold off to 439. International Salt
dropped
from 143/2 to 11 and sold to-day at 12. Sears,
Roebuck &
Co. common was active and advanced from 1033/8 to 1043/8,
sinking finally to 103. Southern Iron & Steel
common,
"w. i.," opened the week at 18%, touched 203/8, and
moved
down to 19; the preferred, "w. i.," after an early
advance
from 543 to 57, sold down to 543. Standard Oil
4
lost about
33/2 points to 702 and to-day fell to 697. Chicago
Great
Western common, "w, i.," sold up from 25 to
283/8 and
to-day to 283/2. The preferred gained 2 points to
59. Chicago Subway advanced from 193/2 to 203 and
down to 20_
Bonds were dull'.
Outside quotations will be found on page 522.

New York Stock Exchange-Stock Record, Daily, Weekly and. Yearly
OCCUPYING TWO PAGES
STOCKS-H1OHES7 AND LOWEST YALE PRICES.
Saturday
Aug.21

Tuesday
Aug.24

Monday
Aug. 23

IVedne.day
Aug.25

Thursday
Aug 26

Friday
Aug 27.

Sates of
Size
Week
Shares

Range for Previous
Year (1908).

Rangc since Jan. 1 1909.
On basis of 100-share lots.

STOCKS
NEW YORK STOCK
EXCHANGE

Lowest

Highest

Lowest

II

'

Highest

Railroads
4
66 Feb 1011 Dec
tch Topeka & SantaFe 9773 Jan 13 12118 Aug12
11638 1173 134,200
8
4
11814 11914 11814 11938 11812 11958 1177 11834 116 118
8338 Feb 104 Dec
10014 Jan 20 10634 J'n.•
Do pref
10433 1043 1045 10458 10414 10414 10414 1045
8
8 1,000
4
8
4
10434 1043 *1043 105
5912 Mel 11112 Dec
1.800 Atlantic Coast Line R R_ _ 10712 1a.1 14 14312 Aug12
135 126
13734 13734 136 137
4
12714 1373 13834 13834 139 139
4172 Dec
7612 Feb
10312 Feb 2.8 12214 J'ly 2.,
4
8
11758 11814 11712 11838 11734 11814 1165 11712 11514 11612 11634 1103 18,700 ilaltirnore & Ohio
,
91 Dec
so Jan
96 Apr 12
500 1, Do pref
92 Feb
9314 9338 *93
94
2 9312 9312
9312 9328 933
9412 *93
*93
6934 Dec
3714 Feb
48,220 Brooklyn Rapid Transit_ 67 Jan 9 8278 J'ne 7
5
8018 7818 7914 78 8 7912
8018 8034 79
2114 7958 81
80
z165 Mcii 3 18914 Aug 2 140 Feb 18018 Nov
4
8
3
18434 18512 184 18558 18534 18634 185 1855 183 4 18512 18418 1853 19,725 ('Sanadian Pacific
68 Nov
5
66
1
0 F6
100 vianada Southern
6014 Jan 11 31934 A ug 25 164 .111 %1
*6812 72
*6934 72
*70
72
*6934 72
4
6934 693 *70, 72
229 Dec
215 Feb 23
Central of New Jersey_
*300 315 *300 315 *220 315 *300 315 *300 310 *300 315
1413, Dec
2512 Feb
8118 70,700 Chesapeake & Ohio
8
553 Jan 6 8378 Aug12
82
8018 8112 80
8
8238 815 8212 81
8 81
8078 813
6878 Dec
10 Feb
7434 Apr 1
5778 Feb 24
900 Chicago & Alton RR
6412 6512
65
60
65
67
6612 6012 66
*66
3
*05 4 67
79 Dec
71 Feb
Do pref
73
*72
*72
73
*72
73 *.... 73
AL..- 73
1458 Nov
1
7
3 F
43,
37 8 lih
8 Aug20 7812 A
1112 \ 11.11 6
934 1112 1014 1014 15,300 Chic G Wes ctfs dep 1st pd
934 1014 1014 11
8
8
812 912
8814 Aug
Mc)
Do 4% deben ctfs dep.
64
*58
64
65
*55
64
*60
*60
64
*55
/3 Dec
1512 Feb
33 Aug26
27 Aug16
350
Do pref "A' ctfs dep
33
*32
33
327
8
*3118 33
35
*30
35
32
32
*30
1718 Nov
5 Feb
1558 Aug25
13
ug
14114 eb 2
Do pre("B"ctfs 1st pd
*1234 1314 1214 1412 145 1518 15
1538 1412 1514 *1414 1514 5,700
8
15212 Deo
16312 Aug 50 10312 Jan
15712 159
8
15714 159
8
1577 15918 15614 15814 15414 15612 15434 1563 59,800 Chicago Milw & St Paul.
16434 Dec
15812 Mch t.3 181 Aug '6 138 Jan
1,507
Do pref
17512 17612 175 176
17712 179
8 178
17712 17712 17612 177
18512 Dec
, 13512 Jan
191 19214 2,330 Chicago dc North Western 17318 Feb 24 19812 Aug 1
193 194
19314 19612 196 19728 196 196 *195 198
1185 Jan 224 Dec
c21)8 Mehl. 4230 Aug
Do pref
*22112 228 *223 228 *221 230 *22112 230 *22112 - _ *22112 227
114 Feb 160 Dec
Chic St P Minn & Omaha 198 Apr 22 167 Augl:
*160 165 *160 165 *160 165 *160 165 *160 165 *160 165
[661., Jan 3o ;180 J'ly 27 14012Jan 174 Dec
Do pref
*175 125 *175 185 *175 185 *175 185 *175 185 *175 185
vs Dec
4 J'ly Ii
58 Apr
7 Jan 9
4 618 1,100 Chic Un Trac ctfs stmpd
63
6
6
6
6
3
*5 4 614 *512 614 *512 612
vs Dec
4 Apr
12 J'ly 12 1814 Jan 27
Do prof ctfs stmpd_
15
*1312 15
*13
15
*13
15
*13
15
15
*13
*13
7012 Dec
4712 J'ne
900 Cleve Chi Cue h St L.
68 Jan 29 7912 Feb 1173
73
7318 74
74
7412 74
*74
7612 *7512 763
4 7412
1.973 Dec
8518 Feb
lo0 Jan 9 105 Mch 22
Do prof
*107 110 *106 110 *107 110 *10712- *105 10712 *105 107
59 Dec
21 Feb
10 Colorado & Southern
54 Aug 20 6814 Jan S
53
*51
54
5312 *53
35212 *5312 54
*5312 5412 *5312 54
79 Dec
8
503 Jan
310
7612 Jan 2 86 May 1
81
Do 1st preferred
81
81
82
81
382
*8112 82
*8114 32
8
*813 82
76 Dec
3934 Feb
350
1 FFI i 64
0351 I nnbb 6..
831 Jan 22 8412 Jan 7
Do 2d preferred
7:36
517
*8014 81
18018 8018
*8014 81
*8014 8034 8014 2014 *8014 81
200 Nlay14
14112 Feb 181381Dec
ela\var
4
19234 1923 19212 19212 191 19214 1,150 De to ,are
193 193
19212 104 *192 194
680 Apr 2:: 420 Jan ;75 Nov
100
Lack & West.
*565 600 *560 600
560 560 *550 560 *550 570 *550 570
4012 Dec
90 A pb 11,
54 Fe r 1.0
141 mc
: 14 Feit
5,500 Denver & Rio Grande_
4
47
473
4838 49
48
4918 4914 5012 4814 4814 4712 48
8314 Dec
5,700 11 I)ri' pref
4 8514 8614 8514 86
4
8814 863 863
87
86
8634 8634 87
56 Nov
3212 Apr
56 Jan 30 7134 Aug13
110 Detroit United
*6812
6918 6918 *6812
*6834 71
16978 6978 *60
Nov
6 Feb
21 Jan 1.
300 Duluth So Shore & Atlan
16
*1512 1614
1534 1534 16
_
3334 Nov
1134 Feb
3612 Jan 13
400
Do pref
3112 3112 3114 3114 3014 3014
____
4
213
-3134 - 36 Nov
1
:: 4
% M h 1.3
5 1jC: 16
18 jFeb 2.
127,175
8
355
3514 34
8 3014 3712 3518 3612 34
-. 367
-51534 - 8 3434 365
143 1'
22 8 11 5133 Dec
56 4 A ng
393 j tie 07
'
rieDo 1st pref
3
3
5
4
8
5334 5438 537 5412 53 8 5512 5312 5414 53 8 53 4 523 5312 6,500
41 Dec
16 Mch
413 Aug 2
2812 Mchll
1,700
Do 2d pref
4214 43
43
4218 4412 4314 4334 43
4214 4314 *4214 44
58
3 , meto 12
16638F ch 29 15778 Aug12 11334 Feb 14814 Dec
38,500 Great Northern pref
15114 15212
15034 152
4
15212 15334 15278 15438 15314 1533 15178 153
1518 Nov
.
8812Augl.
4812 Jan
26,250
Iron Ore properties...
8212 8014 8214 78 8 81
82
83
8114. 8314 82
5
8
785 00
1712 Dec
8 Jan
7 Green Bay & W,deb ctfB 14 Feb 26 17 Jan 4
*1514 1512
*1514 1534 1534 1534
40 Dec
20 Mcf600
39 Feb 1 65 Aug13
avana Electric
65
65
64
6234 6234 64
05 ;03 - - 6212 63
- 65
*03
84 Dec
200 •
1158
93 1 ac hy 5
871 1 e b 233 89 J'nelS 370 Jan
Do pref
*8312 90
8612 8612 *8312 90 *8312 90
*8612 90
*8612 00
126 Aug14
(12 Feb 10412Deo
12112 12131 5,900 Hock Val J P & M CO rcts
12112 122
12134 12134 121 12418 123 12418 12112 12314
le Dec
69 Mch
Hocking Valley pret_ _ 88 Apr2, 9412 J'neiI
8
937
9378 *02
*92
94
9378 *92
94
*8812 8931 *92
*02
137 Feb 2:' 16218 Aug12 12212 Feb 14034 Nov
4 5,800 BMWs Central
153 15418 15278 1533
3
15614 15712 155 15634 15612 158 4 155 156
20 Dec
19 Jan 5
634 Jan
1412 1412 3,200 Lnterboro-Metropolitan_
1518 1514 1434 1518 147 1518 *1412 1514 1412 1478
8
4912 Dec
8
171g Feb
3034 Mch23 623 J'ne 28
Do pref
4034 4758 4614 4634 4658 4718 6,700
4712 4814 4612 4712 4714 48
3212 Dec
(63442 AprA, ug f5 : 2
t r i6
y s 83
81
0
2577
27 Feb 24
2914 2,600 Iowa Central
2912 29
8 3012 3058 29
307
8
*3014 31
4
305 3078 307
57 Dec
4
5412
pref
5712
*5612 5714 57 5738 5714 5738 *57 79 *56 57 *54 57 1,180 Do Ft S & M tr cfs, pref 643184 an 2,
7512 Dec
Aug
b 2
450
77
C
7914
*78
*7712
7914 79
78
7812 78
*7712 781, *77
4238 Dec
Feb
37 Feb 23
4658 4734 18,400 Ikansas City Southern_ _
4
473 4812 4634 48
4838 49
4234 493ii 4814 4938
7218 Dec
7512 Aug 1)'46
Feb
Do pref
7314 2,300
74
74
7312 7312 72
74
7412 74
7412 7412 74
26 Dec
12 F b
1912 Feb 25 291. Aug 2
Jan
300 1 ake Erie & Western
26
25
2512 *24
*2512 28
27
*25
2712 2712 *26
28
58 Dec
1.3 Do pref
24 Mar
48
an 2:3 6478 J'nel4
62
*55
62
*55
62
*57
62
*57
62
*57
60
*57
5658 Dec
30 Feb
59 Jan 4 711g May29
300 Long Island
69
*65
70
*65
67
67
70
*87
0714 6714 *67
70
8714 Feb 12514 Dec
z121 Jan 29 16212 Aug12
4 . 6,200 Louisville & Nashville
4
15414 15514 15414 15534 15414 1543 152 15314 152 15212 151 1513
15434 Dec
52 moi 5
550 114 anhattan Elevated_ _ 14014 Aug20 15312 Jan 4 120 Jan
142
143 143 *143 144 *14112 143
14134 142 3142
*140 142
441, Dec
15 Feb
18 J'ly 2 42 Jan 5
24
*20
1`t etropolitan Street
24
*20
*20
25
25
*20
25
25 *20
*20
5612 Dec
20 Alch
65 Jan 8
5412 5434 *53
5312 5312 5312 1,040 Minneapolis & St Louis
5512 5312 55
5512 *54
*55
90 Dec
61 Feb
81 Mehl° 90 Jan 8
Do pre
88
*84
87
89
*84
*84
*84
88
89
*83
89
*83
7914 Jan 135 Nov
S S Marie_ 13212 Jan 2 14912 Jan S
2,185 Minn St P &
14212 14912 142 142
14312 144
14334 14512 14412 145 *144 145
10 f.te
271 Fe h
A eb
42
1
6544
147 Apr 13 174412 A!kiauug 229 1431;'b J5112 Dec
Do pref
*158 165 *160 165 *155 185 *155 165 *160 165 *158 165
4312 Dec
3512 Feb 23
25,100 Mo Kansas & Texas
42
4214 4218 4212 41
4014 4118 4012 41
4 41
4034 413
7512 Dec
Do pref
7512 2,225
76
*74
7534 74
17412 741 *7412 7538 7514 7578 *75
6712 Dec
2812 Feb
7712 Aug 5
8,100 Missouri Pacific
72
7512 7314 74
3
72 4 7214 73
4 7312 7412 74
7278 723
122 Nov .
3
97 4 Jan
672 PF'eebb :4'
NT ash Chatt & St Louis_ 125112 Jan 225 13912 Aug12
*135 140 *135 139 *135 140 *135 140 *135 139 *135 139
600 • at Rys of Mex 1st pref 4412 Anr 5 55 J'ly s
5278 5278 5314 5314 *5212 5312 5278 5278 5212 5212
2212 Aug16
4,100
Do Zd prcf
2318 2258 23
8 23
233
-2518 /Si; 2318 2312 2314 2312 23
2/ q
%.4 148;4 Aug is9018 Jan 126 Dec
4
3
14112 14318 138 4 1413 13614 13014 13618 13858 177,200 N Y Central & Hudson_ 12012 Feb
14034 143
141 149
5712 Dec
i ne
90 Ja
59 f eb
2412
9812 Mch15 100 ;. 2
200 N Y Chic & St Louis_ _
55
5712 *53
*53
57
*53
56
56
*5512 57
56
56
105 Nov
100 Feb 20
ho 1st prof
*100 105 *100 105 *100 105
*100 105 *100 105 *100 105
85 Dec
2,432 Fct
88 A1.1 i„, 7
17434 j ,Ag 14 160 Ja i:
Apr
pref
80
Do 2d
*83
89
89
*83
*83
89
*83
89
*83
89 *83
161 Nov
6
24
157781184
8
170 171
16912 1702 16912 16912 1,100 NYNH & Hartford_
*169 17212 171 171 *16912 172
4778 Dec
294 Feb
6
1
s5t8 Ateh2
42 4 Fe b 24 5538 J'ne 12
4
4814 4834 473 4812 4734 4818 5,200 N Y Ontario & Western_
4812 49
4918 4912 4914 4012
8614 Nov
58 Feb
8414 Jan 6 9633 Aug 7
9312 9312 9312 5,100 Norfolk & Western
9418 9412 93
0412 95
9312 9412 9414 95
88 Dec
74 Mch
92.2 J'ly 28
Do adjustment pref.
*9012 9312
08
*90
4
8
1167 Jan 1573 Nov
u, 4
7314 _Fe :
136 Feb 24 15912 Aug •
61,850 Northern Pacific
15614 15718 i88' igc ifi" fEE" 15314 155
5Li2
155 157
:3312 Jan
103 Augll
65 Sep
'Mettle Coast Co
*05 100
*96 100
*98 100
*98 100
*98 100
*98 100
90 Ma) 90 May
100 Mch3u 105 Aug:.1
Do 1st pret
200 I.
*98 110
*99 110
*99 110
*99 110
*99 110
105
105
79 Mel. 97 Jan
88 Mch27 WU Men 31
Do 2d or:2f
*98 108
*99 108
*09 108
*99 108
*99 108
*99 108
14
3
8
6
26 2 Fe b 5
18 :8 .la n 43 1437 Augl' 108 4 Jan 132 Dec
8
4
8
14014 14114 14014 1417 1403 14112 13014 14058 1377 13934 18838 13958 68,200 Pennsylvania
8812 Dec
9475 Aug 3
59 Jan
01
20 Pittsb Cin Chic & St L
92 *...- 92
92
*91
9214 *91
39214
93
*00
811g Mch 10834 Nov
104 Feb 10 116 Aug :s
Do prof
115
*110 117 *110 11712 *110 115 *110 115 *110 115 *110
9218 Feb 14314 Dec
166 Augl
1.
:
1s 1,e
1009 1.t e:2
4
8
15838 16078 1585 16158 16058 1623 15834 16138 15614 15978 15534 158 802,050 1)eadlng
92 Dec
96 Aug 23
78 Jan
1,700 11-t 1st pref
95
*94
94
94
94
*94
95
x94
0512 9512 9512 96
1.9 Dec
/6 Jan
10434 Mayi3
2d pre/
102
300
*98
101 101
10012 10012 *100 101
*99 102 *99 102
2514 Dec
2078
651 Feb 24 4238 Aug 12 ' 1012 Feb
8 3718 383 111,250 Rock Island Company_
387
4
3878 4012 3934 4012 3878 4014 37
3834 40
6238 Dec
2034 Feb
5758 Feb 21 8038 Aug16
Do prof
20,600
7712 7518 76
75
7818 7714 78
78
7712 7714 78
77
60 Dec
4 Mch29
Nan Fr, 141 pref_
100 Qt L &
72
*70
72
72
72
*70
73
73 *70
*70
73
*70
/7 Aug 12
4214 Dec
42 j ne
1914 Feb
36 Feb 23 5312 j'lY 1
55 4 543 5512 6,550 L.-7 Do 2(I pref
3
5612 55
4 65
4
3
5512 5512 5478 56 4 5612 563
24 Dec
10 Mch
2012 Feb 25 2812 J'ne 2
58 255
8 25
8 2,000 St Louis Southwestern
5
*2634 2718 2634 263
4 25 8 285
2634 27
2634 27
5578 Dec
2412 Feb
4712 Jaa 6 711. J'ne 2
Do prof
8
8
8 2,800
6634 6558 657
4 6631 6621 667 6718 667 6718 66
6614 662
6614 Feb 12212 Dec
11438 Feb 24 13918 Augl
4
1253 131
12612 1283 427,150 Southern Pacific Co
4
8
• 13318 13412 13214 1347 133 13434 131 133
1:612 Ma,
4
11.0 Feb 24 137 .33111 s 10658 Jan
Do nref
2714 Dec
918 Jan
strapd_
*2 Feb 24 34 Augll
4
s
2 30
4
-3073 3178 3114 -213- -5152 "ff -3012 3133 -21354 161- *6934 i63- YLioo Southern v tr cf:,do
631. Dec
2512 .1ch
60 Jan. 5 75 Aug 12
•
Do pref
71
3.450
70
70
4 7034 72
7112 71,
7012 72
7018 713
4
3714 Dec
1234 Feb
40 Feb 29 4012 Aug23
Texas & Pacific
38
8
363 373 114,600
8
8 3612
3818 3838 3812 4012 3914 4014 3712 387
47
1.512 Niel)
;
421. 33,0 izs
hint Avenue (N VI... 16 J'ly
22
6,650
2114 2212 22
2334 243
8 2212 2418 2312 2378 2258 23
1512 Dec
612 Oct
914 014 *9
7 May12 1533 Jan 2
200 Toledo Railways & Light
10
10
1012
*912 11
*912 1034 " 11
14
50 Dec
12 Feb
4
43 Feb 26 543 Apr 19
4,800 Toledo St L & Western
50
4
503
503
4 4978 503
4 50
51
3
5138 50 4 5112 5012 51
7312 Dec
53 Feb
6434 Feb 29 7414 Jan 4
Do pref
70 4 8912 7014 69 4 097
3
7
3
3 4,200
7014 70 8 70
*6912 71
3
4
703 70 4
963s Dec
7814 Feb
11014 Aug16
108 10612 10612 10612
615 Twin City Rapid Transit 97 Jan
108 108
3
108 4 109
*108 109 *10712 100
17212 Feb 29 219 Aug 16 11012 SIcI 18478 NOV
nion Pa cifi c
8
207 20918 20614 21014 20818 2107 20414 20812 198 20312 19818 20114 979,045
98 Nov
d91,4 Apr
z94 Mch i 11832 Aug 1.
Do pref
10218 10412 10318 10412 35,360
8
10812 1091. 1073 10934 10834 1097 106 109
4
40 Dec
15 Jan
39
39
*36
Unit Rys 1 nv't of San Fr 30 Feb 25 302 J'ne2t
39
*37
*37
39
*37
39
*3814 3914 *38
2713 Jan
6912 Dec
101
85 4 Feb 26 59 Apr 29
Do pref
58
58
1,150
58
57
58
57
58
5812 58
*5734 .5812 58
2(85g Dec
2435 J'ne 15
634 Mch
Feb 2.s
abash
2034 5,200
203
8 20
4 20
2138 2114 213
2014 2014 21
4 2078 215
5234 Dec
13 Mch
41 Feb 2J 6134 .331011
Do p-el
5414 5614 5212 5412 5258 535$ 46,520
5712
5412 5434 5434 56
66
24 Dec
5 m t,
412 Mch
31. J'ly 30 2133 J 0.ny 4
12 111a 7
:Maryland
518 512 13,400 Western
512 8
514
6 14
5
6
518 6
534 612
13 Dec
5 J'iy 13
912 912
10
9
914 9,500 Wheeling & Lake Erie
9
912 1138 1018 1132
714 8
2614 Dec
1218 Apr
1514 J'iy 13 2578 Jan S
Do 1st pref
*19
600
21
21
*19
2012
20
20
21
21
21
21
*18
L. Feb
1518 Jan s
151. Nov
pref
Do 2d
11
10
1,800
11
11
11
1212 1112 1112 10
1212 12
11
3814 Dec
1312 Feb
8; l i 3
337 J aiY 16 6378 Apr 20
1 j
800 Wisconen Central
55
5712 5518 5513 55
5712 5712 5712 *55
5738 5738 *55
nu.
...... ,
Do nref Trust Co ctf
*8914 9014 *8914 9014
*8914 9034 *8911 9034 *89 4 91
3
*8912 91

A

E

•

•

U

VV

BAN

AN I)

ritusT COAPAN 1 ES-311,0K Ea& QUO

nut
Ask
Itia
Banks
Bank.,
18.)
350 •Jefferson i
300
Fifth
Liberty-- 530
820 84(1
First
New Yore
1/5
Lincoln __, 420
155
14th St 11
.....
Aetna.. - 180
.
585
,..- Manhattan1 335
220
Fourth
576
America 1C575
44) 380 ‘iark't&Ful 258
Gallatin
255
Am.lr Exch. '250
Mechanics'_ 252
300
Garfield--„ 204
---Ilattely Pk 133
.- mereantila _ 1160
Germ Am 1. PIO
____
Bowery T __ 375
___ Aerch Exeh 160
Ex1i 450
„:.Germ'n
Bronxtioro'l 3:10
,..7- Merchants', 16:
Germania 11 550
165
Bryant Pk 1 155
Metropolis 1 375
28U
Greenwich 11 265
1511
Butch & Dl 140
detroporn1 18712
565
550
.1 anover
175
Century 11- 170
-.. Mt Morris11- 250
imp & Trad 550
---Chase ___ 300
____ lutuAl 11- '191
IrAlne NI Es 195
29'. 311
,
(1): Dino,
taco, 1045. 1C..1.).
•
I ;at,.
T B,u and asa.ed L'ios. no sates Wet)) made 411 tans day. •c.
is Sold at private
Sale at Stock Exchange or at auction this week. Is First Installment paid
Banks

/al




Ask

AS)
liW
Banks
Oh.lsea Ex 1 200 ,...OhemIcal __ 425 ' - - .12
Citizens' CO 15712 , 162
1388
city
.....
150
Coal & Iron 140
Colonial n_. 30J
Columbia 11_ 375 425
---Commerce - 1133
„,
Jopper -,.,-- 2110
34U
'orn Elt II-- 313
135
East River. 125
175
eldelitY 11-. 165
4....
worth Ave) Imo

•

ASK

_
560
-435
345
263
2111.1
____
_-__
____
--__
195

1'1 ONS

ma
Banks
Nas.saun- 215
New Neth'cl 20u
New YorkCo 750
'325
New York,
\Pin &Dayl 22U
19th Ward_
4
.
lorthcrn __ 1101-3
.(3
Pacific 11..... 23
455
Park
People's 11.- 28(4
173
Phenix
0:ass n......_ 010

Ask
.....
210
-.
- 335
zto
920
_
..
'...4.)
465
293
183
625

tita
Alit
Banks
Prod Exch I 1721. 13211
1421)
teserve.... --135
';eaboard -.355 375
Second ____ 375
-__.
sherman __ 135
__
,.
-State 11_.. 00
-.
120 Ward_ 3_ NU
_
..3d Ward % id,J
J nlon Bac. 1871. 1054
Vash H'ts 1 270
Vest Side 1) 504
. -423
iorkville n

-.
310
11 318145 31.1 i$. a r.',L-diviacno. and Mats. o New sto.:11
sale a*:: this price.

NOW YoriK Stou Record-Concluded-Page 2

514

srocli.S-HIGIIE ;2' AND L0 , 1.s7. .'ALE PRICES
ScUurday
Aug. 21.

M071.(14 1'
,

Aug. 23.

2'uesday
Aug. 24.

WednEsday
Aug. 25.

Thursday
Aug. 26

,1103 04
,

Friday
Aug. 27

the
Week
Shares

STOCKS
NEW YORK STOCK
EXCHANGE

(VOL. Lxxxix.

Range sin e ./•:n. 1909
(J: basta o, 10.,-stvzre tot;
Lowest

,scellaneous
(ndusWailk111
*225 -- *225_ *225 ____ *225
.1
*225 • __ *226
Express
190 Jan 2 1295 Aux 20
600
' 1573 1573 *1514 -16
1513 1512 *1512
1673 Aug 3
1513 -1518 15
15
1234 Feb 24
ills-Chalmers
5313 5312 5358 5358 5312 5418 5312 5312 5213 53
57:18 Aug 3
38 Feb 24
5212 521
Do pref
.2 1,300
8473 8578 84
8278 8412 99,075 Amalgamated Copper
8553 8212 845
8434 8533 8412 86
65 Feb 20 8948 Aug12
4634 4634 48
4934 49
47
47
4973 48
4834 48
4814 6,700 Amer Agricultural Chem. 3312 Jan 5 50 Aug 1_
*90 108 *102 108 *102 106 *102 106 *102 108
*102 108
9513 Jan 18 103 Aug
Do pref
4434 45
4434 4733 4634 48
4414 45
46
4714 45 4 4612 27,300 American Beet Sugar
2014 .1-.n 13 4012 Aug 2
3
*95
97
*95
97 *95
9612 *95
96
9718 ... ue 11
9513 9518 *95
$2 .1^n I
100
Do pref
9612
13
1234 13
1213 13
13
125 1313 1214 1234 1213 1212 6,900 American Can
1.1% May21
712 Feb 23
*8312 84
83
84
8314 8314 8314 84
8214 8313 8214 827
Do pre(
8 2.300
7112 Feb 23 86 .1'ne 4
6634 673
67
5 6713 6434 6613 6513 6612 15,800 American Car &68
66
4 6612 68
Foundry 4414 Feb 24 70% Aug 4
*119 120 *11812 120 *118 120 *119 120 *119 120 *119 120
Do prof
10712 Feb 23 12434 Aug ;3
7314 7314 7334 74
73
74
73
73
71
7212 6913 713
4218 Jan 5 7713 Aug 9
4 7,800 American Cotton Oil
*101 105 *101 105 *101 105 *101 105
10234 10234 *101 105
150
Do pre(
98 Jan 7 10614 Mayl I
*228 240 *228 240 *228 235 *228 240 *225 240 *225 240
$205 Feb 5 23212 Align
American Express
9
9
9
9
833 9
812 812
813 813 1,800 American Hide & Leather
9% Aug 3
819 83
4
614 Feb 25
4914 4912 4912 50
4912 4912 49
4914 4814 4914 4712 4812 4,100
39 Feb 21 6178 Aug 3
Do pref
3414 347
3 3453 3512 3473 3518 3334 35
3312 3334 33
4214 Apr 13
1878 Jan i
337
8 5,345 American Ice Securities
16
16
16
16
*16
1714 16
16
1512 16
*15
1612
800 American Linseed
'2 Feb 25 20 J'ne 14
*41
4212 4212 4212 4213 43
*42
44
4112 4134 4114 4114
4734 J'ne 1
900
Do pref
29 Jan 12
6214 627
6312 6073 63
5953 61
8 62
5714 6013 5712 59
26,
432 American Locomotive
4!) Feb 23 6914 Aug 4
117 118
11612 11712 11612 11612 117 117
116 116
11614 11614 1,550
Do pref
10914 Feb 24 122 Aug
*8
9
*8
9
*8
9
*8
9
8
8
*8
9
1112 dOIC 1
440 American
00
b nMalt Corp
p ricarer
512 J'ly 16
5314 54
*5312 54
*..313 54
*5312 54
5334 54
53
581. .le 3
5314
._:e Jan 7
*9014 91
91
92
x9014 9118 9014 9113 907 92
923 923
3
8 2,210 Amer Smelters Sec prof 13
s+0 Jan 4 9238 Aug 27
9873 10013 9834 10034 9934 10034 9853 10218 98 3 10118 99 10114 172,950 Amer Smelting& Refining 7734 Feb 24 10478 Aug12
7
114 114 *114 115
11412 11434 11434 11434 1123 114
4
113 11414 2.500
Do pref
101 .1'n 2 11634 Aug I)
*250 300' *255 300 *285 300 *285 300 *285 300 *250 300
American Snuff
225 Mch 9 280 Aug I,
*101 106 *101 106 *101 106 *101 106 *101 106 *101 106
95 '.11 1 105 Mayz?
A Do
59% 5934 59
5978 5913 60
5912 5934 5812 5812 58
58
3
6314 Aug 7
3473 Feb 21
,764Amer Steel Found (new) _
13073 13078 130 4 130 4 131 13112 13014 13034 *129 131
3
130 1303
3
Apr
4 1,700 American Sugar Refining 121 J'ne 17
126 126 *126 127
127 127
12733 12733 12612 12718 *126 128
500
Do pref
120 J'nel() 131 Apr 8
14014 140 140. 14013 14038 13934 14014 13838 139 4 13812 13914 10,800 American Teleph & Teleg 125
140
3
Feb i 143% Aug 2
*1011 1013 10112 10153 10112 10153 10134 10134 10112 10112 10118 10118 1,300
4
American Tobac (new),pt 3012 Feb 6 104 •(aC1,
3813 3813 3778 377
38
3813 378 3814 38
8 3773 377
4012 7,500 American Woolen
26 Feb 1 4012 Aug27
105 105 *10412 10512 10514 10514 *105 106
105 4 10534 1053 1063
3
4
8 1,300
Do pref
9334 Jan , 10/714 J'ne 14
49
49
48 s 4912 4914 493
4814 49
4712 4814 4753 48
7
5,600 dAnacondaCopper Par$25 53734 Feb 26 $52 May 8
*1073 -- *10734 -- *109 ____ *109 __ *100 ____ *109
4
Assoc Merch 1st pret____ 105 Apr 2 114 J'ne.121
*10712
*10712
*10712 ___ *1071._ *10713 *10712 - - ......
10112 Feb 17 10412 Feb 13
Do 2d pref
473 -17
8
478 --8 *473 5
47
*47
; 5
43 13 *412
4
7400 dBatopilas Mining Par$20 $278 Jan 29 $612 J'ne3i,
3214 33
32
33
58 323 33
32
33
3112 3214 7,100
4
183 meh 9 3412 Aug 11
3112 32 4
3
4
Steel
*63
64
6414 6414 6513 03
6914 6313 6312 *6314 66
*63
Bethlehem
1.400 13
47 Feb 24 67 Aug
*14812 150' 14912 14912 14912 1503 *150 151 *146 150
147 147
800 Brooklyn U t ion Gas
no "ren
118 Jan 28 15033 Aug 24
16
1614 1612 1718 173 1814 18
1812 1712 183
8 18
1818 25 410 Brunswick Dock & C Imp 13 Jan 13 2034 J001
5 530
:
4
*31
33
*3134 33
3112 3214
3212 3212 *32
33 *3014 33
100 Butterick Co
2373 Jan '2 3418 lay!,
40
3978 4018 3973 4014 3934 40
3913 3953 38 4 3914 39
3
Clentral Leather
2513 Melt 2 4118 Aug 19
109
109 109 *108 110
108 10812
109
109 109 *108 109
500
110 Aug 4
Do pref
45
4334 45
4413 45
4612 4453 4534 43
4458 43 3 4518 22,960 Colorado Fuel & Iron
5
9 34 Feb 2:
2
9 A pr 5 4838 Aug ;•
3
71
71
71
71
71
71
2 60
7058 71
7012 70 4 7012 70 4 3,.00 Col & Hock Coal & Iron_
3
3
0
2133 Feb 2:3 7314 Aug 6
14418 14413 147
14334
14714 14912 1463 14914 144 14714 1443 1463 59,790 Consolidated Gas (N Y)_ 11412 Feb 4 16514 J(111 4
4
4
4
23
2318 2313 24 4 2412 2514 2353 2434 2314 2378 2314 237 29,000 Corn Products Retinlng_
3
8
2612 J'ne 2
1512 Feb 21
8814 8812 8814 8812 89
8913 89
8912 8914 8914 *8812 8912
Do pref
7314 Feb 24 9312 Joe
*55
60
*55
60
60
*56
*55
60 *55
60
60 *55
91 May26
3878 $3814 3
4 2,450 CDriesxtlIClearrs?etecuritles Corp 3213 jeP1) 23 4112 Jan 26
38
38
3712 3712 3712 373
3
7
S
814 387 38 8 38
45 F
a
3
8912 *80
8912 *75
88
*80
89 ...... Federal Mining & Smelt'g 65 kleh 2 9512 NlaY11
*75
78
*75
90 *75
92 *90
91
x8814 8814
9212 91
*90
9378 *90
9213 *90
400
Do pref
SO Feb '4 04 Aug 11
Sugar Ref of N Y 145 Mch20 151 J'ly 13.
Federal
Do
190 Jan .5 95 Aug :3
- 3 1;ii4,270
2
2
ioi- 76315- 16834 1661- 165- 189 16612 gi- 165 166 16513 11361- .
4
15013 Feb 23 1723 Aug12
*100 105 *100 105 *100 105 *100 106 *100 105
GS P___ 91 Mch12 .40 Jan 4
Pr
Gra eral Cons Aetrtie &
enn b y eEle
*84
88
*8812 8912 *3812 89 4 8914 8914 *88
8812
8912 88
200 f nt Harvester stk tr ctts 62 Jan 30 8978 Aug12
3
1207 12073 *120 121
12118 12118 121 121 *12012 12113 *12012 121
500 I Do pref stk tr ctts___ 10914 Jan 16 123 .1'ne
*614 6 4 *614 6 4 *614 6 4
612 612
612 612 *614 612
300 Int Mer Marine stk tr ctts
3
3
9 Jan 2
633 J'ly 9
3
2014 2014 15, 0
21
21
80
90
21
2034 20 4 21
213
8 2112 2112 21
3
2753 Jan
Do pref
3
1714 1712 1778 1753 1914 1814 1834 175 1838 1813 1812 3.705 International Paper
17
183 j Y 9 1914 Aug 24
014 ah13
2
6712 6712 68 8 68 68
663 6633 66% 6814
3
6612 6612 67
4
473 ‘tch18 6934 Aug 3
7
Do
44
4434 4213 4373 42
43
41
4313 42
4
43
4214 42
20,150 Internal Steam Pump
r p
onat team
331. Feb 25 943 Aug25
8812 8812 2,600
88
8918 *88
89
8778 8818 *8712 8814 88 88
Do pref
689211:
343 90 Jay 16
,
83 4 1,900 Mackay Companies
3
*82 4 833 *81
*82
843 *81
84
3
4
83
4
8434 Aug24
82
8414 84
70 Jan 21
*7412 75
7412 7412 *7434 75
75
75 *7412 75
*7412 75
200
Do pref
7518 J'ne4u
Jan
4
*10312 108 *106 108 *108 108 *1063 108 *10312 1073 *10512 108
4
Vational Biscuit
9612 Jan :: 408.3 Jaa
*12513 12634 *12513 127
*126
_ *12513 ____ *12513
11812 Jan 11 127 Aug 4
17
1614 1612 *1612 17
17 17 *12518- 1712 1713 17 800 Nat Enb nerg 63 Stamp'g 1253 Feb 24
1834 J'ne
163 prefa
4 1634
D
9313 9313
94
94
95
96
*93
96
95
*93
*93
200
Do pref
95 Aug25
96
Jan
9212 9133 9212 9134 9312 9112 93
2 850 National Lead
90
91
1,23 Feb 21: 94 Aug 13
81144 A br 8,
72
)
913
4 9012 92
8
*111 114
11212 11212 11253 11253 *11212 1135 11213 11213
112 112
11334 Aug12
500
Do pref
Newhouse M & S_Par $10 $113 J'ne 24 $13 Jan .
8
;i5- 92 -92- 711- ;52- 93 91 Iic- 1554 90 188 88 ...Ho New York Air Brake
80 Feb 23 97 Aug 10
13914 13914 *13812 140 *137 140
*139 142 *139 141 *139 142
100 N y 63 N I Telephone
1113 Jan / 14213 Aug .,
8212 8312 4,020 North American Co. new 72 Jan 13 8712 J'ne 14
8438 8414 8414 8312 8312 8212 83
84
8234 84
32
3012 3112
3214 *3112 3212 31
325 32 4 3112 3278 32
3
3
pacific Mall
2913 Feb 24 3634 Jan I)
11613 11712 115 11614 11514 116
14 331
3,7
11612 11673 11612 11712 11673 118
eople' G L .53 C (Chic) 10112Jan 13 '20 Aug 16
s
23 89,150 Pittsburgh Coal Co
2018 2212 2173 2312 22
1912 22
1912 2412 2134 24
2412 Atig21
10 Apr 21
63
5
6112 59
60 8 585 6012 6012 6112 61
7,400
Do pref
5712 613
4 60
40 Feb 25 133 Aug 27
5014 51
3
4914 503
3 8,610 Pressed Steel Car
483 50 8 5013 50 3 50 8 51
3 4914 497
7
4
7
3012 Feb 23 56 Aug ..
104 105
105 10512 *10413 10612 104 105
107 107
1,390
107 10712
Do prof
96 Feb 2(1 11134 Augll
193 193 *192 196
197 197 *195 198 *195 198
*196 198
200 Pullman Company
160 Jan 30 200 Aug 6
512 612 *512 612 *512 612 *512 612
800 Quicksilver Mining
514 514
512 512
9 8 J'
3
1Y 1,
*5
7
5
5
*5
*412 613 *412 612
*5
7
712
100
Do pref
3 jc 4
153 Nanh29 10 May-3
l
50
4934 4934 48
48
*4712 50
50
5014 5012 5012 50
1.700 Railway Steel Spring... 3212 \fell 8 5412 Aug 4
108 108 *107 100
10713 10713 *107 109
*10712 108 *108 109
97/ Feb 24 109 Augll
8
3714 3812 3612 3714 3613 3714 13.210909 Repub lic Iron 63 Steel... 165 Feb 23 33973 Aug I
3712 3814 3734 30
3714 38
po
3
10533 10534 10512 105 4 105 10514 10473 105
3
10553 106
10512 1013
3,025
Do prof
6713 Feb24 11014 J'iy 26
84
84
85
8512 8514 86
84
85
85
8514 8514 85
2,800 Qioas-Sheffield Steel & ir 68 Feb 23 8818 Aug I
*119 123 *119 123 *119 123 *119 123 *110 123 *119 123
0
4
$373 Fe b 26 119 Augl 1
104 8 F 2
3712 *3733 38
3813 3713 38
37
3912 3814 3812 *38
2,000 rlTenDo beet
39
$49 Jai 4
i l nesse rCopper Par$25
9012 92
*8712 91
*8712 91
*8712 91
*8712 80
Texas Pacific Land Trust 8012 Feb 23 9378 J'ly 10
*8712 91
1314 14
1533 J'ne 18
1,400 I rnion Bag & Paper__
1312 1433 *1334 1412 *1334 1413 1334 14
*1314 14
914 Feb 24
79
8114 J'ne29
*75
7912 *77
80
*77
80 *77
7912 *77
Do prof
ti
150 United Dry Goods p( Otis 10912. n 4 11134 Aug
10912 10912 *110 iff *110 111
111014 11014 *11014 111 *11014 111
ja
941 Aug25
32
32
32
3212 3212 32 4 32 4 3234 32 4 3212 3212 32
700 U S Cast I Pipe & Foundr 2438 Feb 24 3512 J'ne
3
3
3
900
8712 Aug 18
*8314 85
85
8533 8578 8514 8514 8514 8514 *8314 8512 85
*89
95
*89
95
95
*89
95
*89
95 *89
95 *90
Un ited States Express_ 82 Feb 10 199 Apr :30
ates
Do
2
7
9 M
83
*82
83 *8113 83
*82
8238 8233 82% *82
83
*82
U S Realty & Improvem't 64 Feb 23 8513 May17
16
*14
16
*14
*14
*13 8 1612 *13% 1612
5
16
16 *14
U S Reduction & Relin'g 10 Mch 12 1712 J'ne 17
3912 Aug12
*32
*36
36
3712
391.2 *36
3912 *3
3912 *32
3912 *36
6
8
5512 5638 54
56
5412 55 4 527 5414 5013 52
3
3
58 5018 5212 42,750 UnitedPStates Rubber
re a
eb 1
Do Stt
27 Fe b 24 575 Aug10
4
3
11812 12318 12212 12312 12134 123
11812 119
11912 12112 119 120 4 15,550
12312 Aug 24
Do 1st pref
Jan
87
87
8714 4,425
*87
83
87
4
88
68
9712
8912 8814 8914 873 88
Do 2d pref
29 8912 Aug 3
25
75% 7673 7512 7712 76 8 7838 7578 7733 74
5
7614 7334 7512 1084600 United States Steel
4114 Feb '13 78.3 Aug 1.
4
12434 12513 12958 12518 12518 12558 12414 12514 12353 12473 123 1243 20,031
Do prof
3
2,
$3918 Feb 23 1253 Aug 4
107 F
$5112 Aug12
5 513
3 5012 51
5014 5012 3,550 dUtah COpper___Par $10
52
5138 513
8 50
*5012 5112 51
47
4712 4,325 Virginia-Carolina Chem
14
4 47
48
4712 477
8 4814 4812 4813 4814 4814 483
4073 Feb 24 5614
123 123 *122 125 *12112 123
254
12313 Aug 23
*123 125
12313 12318 *123 125
Do pref
Jan
67
*63
67
67
*63
200 Virginia Iron Coal & Coke 157 Feb 29 61 J'ly ii)
*63
67 *63
*63
65
65
67
1.1
14
15
8315 315 *315
*310
*310 -- *310 -- *312
Fargo & Co
330 May28
573 *73 75
5.000 Wells
7312 7412 73 estern Union Teleg_ 399 dia b 24 71312 May I
7334 7314 7;
73 4 7412 73
3
64 Fen 5
86
87 87
8614 8614 8412 86
85
88
843 8614 87
4
6,920 WestIngh'seEl&Mtg amen
74 Feb 24 91) Aug 7
*120 133 *124 140 *126 140 *125 131 *125 140 *126 135
Do 1st pref...... ___ lin 51ch 3 130 Aug 1 2

A dams

Range lot Previous
Yea, 090(3)

,,Whest

Highest
169 Jan
6 Mei,
14 Vet
4512 Feb
13 Jan
781. Jan
912 Feb
15 Jan
4 Fob
44 Jan
.2512 Feb
8414 Mei(
'2434 Feb
180 Jan
170 Feb
234 Feb
1212 Mel,
1212 Feb
0 MM.
17 Mei
31% Feb
8512 Jan
51,-1,
21 Jan
70 Jan
5512 Feb
8734 Feb
180 Aug
80 Mel,
28 Sep
9834 Jan
105 Feb
11)1 Jan
7212 Jan
1512 Feb
7814 Feb
12713 Feb
3212 Jan
12 Jan
35 Apr
z81 Feb
6 Jan
310 Feb
1512 Feb
753 Jan
4
15 Feb
53
1434 Meh
90 Jan
1034 Feb
50 Jan
4712 Oct
•,714 Feb
7212 Nov
59 Feb
55 J'ly
7312 Feb
111 Jan
3
78 4 Jan
62 Joe
99 J'ne

(200 Aug
1638 Dec
5234 Dec
883 Nov
8
35 Nov
96 Nov
247k Apr
8134 Deo
1014 Nov
7673 Nov
5034 Dec
109 Dec
943 Nov
4
07 Nov
1224 Mal
812 Dec
373 Deo
4
3
317 Aug
171, Deo
36q Dec'
5953 Aug
113 Dec
8r,; Sep
5 13 Sep
8413 Aug
107 Aug
1103 Aug
3
500 Apr
9712 Sep
41 Nov
13734 Aug
131 Nov
13253 Nov
971. J'ly
3238 Dec
97 Nov
531 Nov
,
31

Alch

2714 Nb v
57 N ov
15214 Nov
17 Nov
425 Jan
33 Dec
102 Deo
42 Dec
167
2713 DD eebc
2 2 Aug
0
80 A g
4s14
Oct
168 42 Dec
,34 NovJ ,
18)
(
894,
94 NovAoug,

16234 Dee
99
10.112 J'ly

Oct

69773 Dec
39 2 NMoavy
26
5
7
o
16 Feb
124 114 Nee v
8 Apr 38s3144 DND onov
65 Jan
47 Oct
13 Jan
65 Jan
Nov
52 Feb
7134 Nov
597 Feb
3
97 Dec
68 Jan
102 Jan 12012 Dec
1514 Dec
712 Feb
,70 Feb
7
92 Aug
36 Feb
40
8712 Jan 10614 Nov
$973 Jan
843 Oct
8
98 Nov
50 Jan
00 Feb 122 Nov
Nov
4218 Mch
'29 Apr
4.
, eee
78 3 D c
416
80 Jan 10512 Deo
812 NI eh
3612 Feb
J714 Feb
e
a
10 8 Dco
50214 D c:
69 Jan
4 Nov
13
173 Deo
147 Jan
12 Apr
113 Jan
49:3b DN b
)
'233 Fel) 1( 914 Dec
4
75 Jan
29 Nov
1434 Feb
8012 Nov
63 J'ne
Nov
:A Jan
1b13 Dee
1014
8712 Jan
$2513 Feb 85214 Nov
8412 Dec
45 Feb
Nov
4 Feb
66 4 Nov
3
448 Jan
1712 Feb
3 473 De
6
0 No
:
5658 Jan
7878 Aug
70 Feb
3514 Feb
4 Feb
9 13 jub ag
33 4 AA ug
1
; An
0
a
16 Feb
173 Feb
4
76 Feb 17812 Dec
05
42 Feb
Nov
2534 Jan
$55823344 NovNo
8712 Jan
.20 Jan
16 Feb :6' D°vv
345 4 NNN.3o
685 N:
21' 000
143
387 Jan
43 Jan
1260 Feb
41 Feb
38 alch
1 434 Nov
71 Nb
)
5u
f
125 Nov

BAN t‘S AND TRUST COMPANIES-BAN K 11.S' QUO PA PION
Aslc
I
tits
Ash
Ask
Ask
HUI
I rust Co's BUJ
Banks
Trust Co's Bid
Ask
Banks
•rust Co's Ma
Ask
!rust Co's Rt.
N Y CUL/
Brooklyn
Brooklyn
Brooklyn
90 710 3? Lite &Tr 1090 1110
Guar'ty Tr- 6
___ Darn-2gie _ 175
_ __ Irooklyn 1r 910
Borough 1._ 90
185 Guardian T 160
Vorth St.:lel, 150
Tr
105
_ _ Ni Y Trust_ 625
420
Broadway 1 ,350
410
Peopl.es____ 155
,.. 7 Central Tr- 51004
,..- titutgon
_ 176
_ "Standard Tr 350
- • %Wrens'
145
Brooklyn 1, _
161) Columbia- '290 30()
Prosp'etPki 150
Kniekerblat 335 350
pirle(21u.53 Tr 495 505
- . Flatbllsh -- 200
225
•/80
130 Commercial 195
First
143 Law T I &Tr 24/12 2541.. rr Co of Am 355 3,0
Franklin __ 2011
-- rerminal
.. ....
113)
HillsIdel,
130
Joionli____ 10')105 Com wealth -. 155
Lincoln Tr_ 165
170
Dawn Trust 1275 1300
lamilton --265
1..)mpire _ _ 30S 310
Home Bk11_ 110
12,3
460
tome
Manhattan 3.'0
390
103
US M U; &Tr 415
.......
Hom.,steaul 100
Kquit'ble 'I'r 430
50.1
125
Mercantile
725 750
Trust Co's
500
__,
Unit States_ 1230 - Kings Co
Manufac'rs 410
430
Farm Lo441 1525
- _ Metroportn 510 555
- L Is! L & Tr 1312
N Y Guy
.. 260
315
Van Norden
lewelity _ _ 203
_ _ 335 345
l
250 .k. tar
2 - Murton Tr_ 600
Mechaniesi 240
07
lassau __.... 160
_.. _ Washington :375' 410
-170
_ Firth Av ir 400 420
.
.. _ daakeia ii 87'
145
Montauk
155
,
eople'._...... 285 :300
Mutual ---- 120
12i Nestetiestel 146
155 Fulton ___ 270
wway Tr__ 195
270
2411
Nassau
....., Mut Airnm L.0
195
Queens CO
1.1;
Windsor ... 135
120
180
290 310
Nat City
Will,amsb'g 80
100,
4 13ld and asked prices: a)sa,..3s on 1.113 day 1 Less than 100 shares. 3 Ex-rights. Is Not' stook. c Ex-div. a.n.1 rkrnes. d Now emoted dollars nor share.
e al Stock Exchange or at 0031100 this week. s Trust co. certificates. if Banks marked with a paragraph (11) aro State ianks.
..138

--143




New York Stock Exchange—Bond Record, Friday, Weekly- and Yearly
Jan. 1 1903. the hIrchanle ,
nathod of 'Noting bonds was ,
Piaitio, ant
f,
BOND-.
N. Y. STOCK EN , I, A NG 1,
'
Witak ENtllso AUGUST 27

Priday
August 27

Weeic's
Range or
1.aet Sate

•

rtco ar* ,10,
0

Range
Since
January .

I. tn!*rlst"--orlo; for tacone and defantled bonds.

Iitosi),
N. Y. STOCK EXCHANGE
WICEK ENDINO AuutrsT 27

k'rice
'.1,-a
t., -1:•Arid al,
--`V-- August 27
'

Weetc's
Range or
Last Sale

&an qs
Since
January ;

Hz,.
AR, how
High No Low _High Cent ot (la It It—(Con)
Bill
48K Lou
/Ito, A, /Am trig/
100"4 101 / 1011
1
4
hi pre/ income g 58....pl94 . /ct *6'J
/
4.7'1y '011
6
i01 / 102,
1
4
7613J'ly
75
53
80
1007 101, ttil Aug'o.•
3d prof inc,onie g Os stampe
4
,
70
71
70
80
1- 54
,
Chau Div pur mon g 48.1931 id
101 103%
01 1 )
102 102 Aug'ill.
101 4
/
Mr's
59(4 Feb'08
101,102-, 101 4 Auglo:•
4
2
Mac & Nor Div let g 53.1946 J -J 110
1007 102',
,
1047 Pue'01
8
L001
/
4
Mld Ga & All Div 5s....1947 J -J 1061 109% 115 Nov'03
/
4
.......
,
1101 117 , 116% 116', I, 1161 1191
4
1
/
4
Mobile Div 1st g 58
/
4
1101 May'ut,
1.114t J -J 110(4
11(1(4110(4
116 suit 118
118
;en It It & 130114a col
I., 118 121
105 Aug'0,
193; il-N 105
104 100
101 101i6 .;ent ot NJ gen'l goldg 5s
,
1001
/
4101 4 101 Mar'914
127 127% 127% Aug'09
58.1987 4-3
127 129
Registered
1261
/
4126% 127 J -Iy
126 12Th
Foreign
Am Dock & (nip gu 58. 98 --J
111.1 110 Ply'09
5 921 Y j
1
109 110%
05% 112 93
6
95
Le & find It gen gu g 58 1920 4-3 101
Argentine—Internal 58 of 1909 M.s / 115 1 Sale
09
Leh & Wilks B Coal 58..1912 11-N 100%
Imperial .114,411(13a (JOVernIn
101 J'ne'99
99, 101
4
4
951
4
/
4
953 98 903 953
,
1925 F ..A t 957 Slut
Sterling 101111 41
0011 ext. guar 4/
/
4s
-6Aug'09
1
4
8
q.191t, Q-M 100%101 10/3
9976 10011
1+4% 93 891 943
/
4
931
/
4
NY cto Long Br gen g 4s 1941 71-S lut/
6
/
4
20 series 41
/
4
3
J t 941 Sale
0125
sale
871 4: 8074 Ss% ,:ent Pacific See So Pacific Co
861
/
4
/
4
11131 .1 J t 87 s,
Sterling loan 4s
,
1102 ,?nth. 1(12t2 102 , 2 1013 1041 GentVermont 1st gui.
,
4
/
4
Repub ot
Is eaten debt..
/
4
/ 901
4
1,7s.e11120 Q-F
901
8014 90%
95% 913
San Paulo(Brazil)5s tr reels'I
4
93- ..Iiiiai & sav See AU Coast Line
05
J t
6 1j92
997, 100
6
997 Sale
I. 973 101nce & Onto gold Os
1,, 1 (i
U S 01
4
58 01 1899 1-4
102% Aug'09
al911 A-0 102
1011
/
4103%
1
4
1954 J -() 93% IA / 94 Aug'09 . .. 921 95
Gold 45 of 1904
/
4
/
4
114(4115(4 1141 1147
6
1141 117
/
4
Gu ee in iti :ere: 58
lelte rt gu (1 &4
rif ! iou gd
u
a
t hese are pr ices on rice basis of $5 to £.
1141 Fet.009
/
4
131 11411
/
4
J'441.--NJN
State and City Securities
58.1119992;3i91%.
1015, 101
101 14
1003 103%
4
Pi
110 Nov'08
Dist o( Columbia 3.05s
11124 El_ - A 107
2
1992 4-1-S 1(13( :Rile JAM 4
3 1941 2, 103 13 06LN
/
4
96
1051 Dec'04 ..
/
4
Louisiana new Goosol 43 1914 J J
Registered
105 Apr'99
1992 J:D 103
1, 4 A s
4
105 105
New York City
Biz Sandy 1st 442818M
883 89
4
e87 Aug'uv
4
85% 91
6
1013 158 1001
,
48 when and as issuoti.1951.1 M-N 101 1 Sale 101
/
4
Craig Valley 1st g 56
/
41011
11.3 110 15itt)'09 •
1949 J -J
.07/ 1103
1
4
4
,
1958 31- N lul 101% 101% 101., 3" L01 103
P et ACLeek Br 1st 48 1940 J-J
itotts
49 Corporate :stock
0
90 Jan 'ut, ---• 90
iv
1)0
1013 Dec'Us
496 assessment bonds _1911 B.N
4
99
90
g 43 1989 3-4
99 100%
...1111 Salt
/
4
957
111
New 4 1/48
97
2d consol lgs4tse"
961 Apr'99 -••• 904
b 1111
/
4112N
/
4
19811 J -J
104 104%
10478 J'ly
1917
New 41s
/
4
Warm spr Val 1st g 56 1941 /XS 1971
1131 heu'ua
/
4
4
111% 111 / Ill', I Ill's 1121 ;It4reen brier Hy 1st gu g Is '40 B-Fl
/
4
1
4
ne &
93
1
4
c6'
4/ Corporate Stock _1957 M-N
951 95 -set/ 01
/
4
'7
1917 al-N 104 14 1O4' 104% Aug'09 ....
assessint bon08
Alt RR ref g 3s...1949 A-0
/
77 4 771 Aug'/9
4
1131 13 1013 Aug'0, .... It/1 1031
6
4/ Corporate stock. 1957 M-N
90
75¼ 75 76 751
Railway 1st lien 31
/
4
/
4
/
4
s 1950 J -J
.
8'5% lt• 131 77
/
4
1133 J'ne 93
6
Y State—Highway 48 1958 M.5
4
i : g e i ed
ii
4 )
2
1:15 24 195::: ' GI.1 eiltetti.ialtursv 3L.,s
L : 41 3,
4
73 Feb'uu
- •
1950 J -J
73
73
101
193., .,
1021 Jan '99
/
4
Bo Carolina 4, 20-40
38
3Aug'91)
1
4
10-2/ 13214 Chic Bunts, Q Deny D 48 1922 F -A
991
/
4
111/ 4
J91
/
41003
4
953 Fel)'1.62
4
11/11 J -4
953
4
renn new settlement 3s
91/1 Sal.
/
4
99%
99%
1958 M-S
1/8 101
93
911 Aug'0,- ..... 31,4 93
/
4
94
Virginia fund debt 2.38-199 t .1-4
9 / 48
1
4
9t11 side
/
4
901
4
:A/
1949 J -J
11 111)
13
,
43
Os deferred Brown Bros Ws.
42 13 Aug'09
lu joiv 4s
lugisterect.....
91%
1949 J -.1
....
1110.6 Sale 100% 101%
100 103,
4
Ititilroat:
Iowa Inv sink fund 5s 1919 j-j 105(4
1954 Apr'09
103% 106
194U A-0
A latmuna Cent. See So By
Sinking fund 48
99%100% 99% Aug'09
99% 1013
4
11.1aba Mull See At Coast Lin,
Nebraska Extension 4819111 3/1.N WU 100, 100 Aug'ut,
4
190 1021
1)27 A-O
/
4
Albany & Susa See Del& Hun
Registered
101(4 Alitei.hi
D11131011
/
4
Allegheny Valley hee Pugin Fit(
Southwestern Div 48..21927 .- N
991
/
4
69% 3'ly'99
92 Vi-S
l1
99 1003
4
Alleg & West See Bull it & I'
Joint bonds See Great North
Ann Arbor 1st g 43
14
,
41995 Q-J
87%
84 J'ly'09
84
De0enture Os
102%
/
4
'013 1031
1913 All-N 102 1021 102
4
/
4
&toll T & S Ife-01 en g 46.1995 A-0 199% Sale 10u3
Ilan & 6t Jos cousol 68 1911 -'A-S 1021
s 1004 114 1.00.61017,.
/
4
6 102%
10217
102%1033
4
Registered
1091 (up Aug'911 .... u9 1007, 1410c& E Illref & imp g 4s11165 J -J
/
4
1993 A-0
4
4•Aug'ul)
10(4 871 87,
6:5
10
,
Adjustment g 4s
91.3 salt
951 I let consol g tis
/
4
1t1995 Nov
941
3
941 , 92
/ 4
4
1.29% 137
1934 A-0 129'4129(4137 May-91,
Registered
921 FelP09 .... 9414 921
4
It1995 Nov
General Gomm'1st 3s
/
4
/
4
6 114%
1937 31-N 1E31 114% 1113
114 116%
Stamped
94 Salt
1. 921 951/4Registered
94
41995 NI-N
114 May'010
/
4
94
114 11414
115 4 sale 1151
3
4 117% 101 ,12, 119',
Sub refits(tun paid)cony 48
Chic & Inti C By 1st 58 11 37 ..II- J 1131
4
/
4
/
4
1131 J'Iy'99
1131 115
19 ti
,
/
4
N
1161 Sale 116
/
4
1181 .3 in 1021 120
/
4
Cony g
Chicago & Erie See Erie
/
4
4 119 321 1953 120% 141110 In & LOUI8V rd l 08 1947 J • a 128% Sale 128 14 128% 4 127 129
1
4
10-year cony g 58
4
1u17 4-I) 116 14111 / 1157
301
8
991
/
4
99 14 991
', 9
/
4
Debentures 4s Serles11 1916 F -A
Refunding gold 5s
/
4
/
431.0W ...• 1121 1147
/
4
1947 J -J 113 1131 1121
4
'4851
Series K
981 trlY'00
981 981
1913 F -A
/
4
/
4
Lowey N A & Ch lat 08 11)10 J -J
/
4
l01 4 J'ly '0..
101 4/ 10214
971 97% u7 Auleut) .... 97
/
4
East Okla Div 1st g 48 1928 M- S
Chic Mil & St P term g 53 1914 .1-J 104(4105(4 1041 Aug'01
/
4
99
,
104 4, 105 14
.4
94
04, 94
,
94 16 lt• 94
1958
Short Line lot 48 g
901
4
1(13% 104, Aug'09
General g 48 series A..e1989 J -J
102(4 1043
.
&tlJ.(nox&N see L do N
Registered
10313 Oct 'tie
96 Sale 953
b u41 963,
4
Atlantic Coast 1st g 48.A11152 M.6
4
96%
6
General g 3(48 series 13.eE89 qj 89. 110
110
90
c 89 J -J
/
4
4 891 92%
Charles & Say 1st g 78 1936
9413 Sale
25-yr deben 4a(w 1)
94%
'34% 143 9411s 95
1934 .1 - J
127 J'ne't/1..
95y1'& W 1st gold 68 1934 A-0 126'4
199% May'ut
/
4
Chic di L su Div g 58
,
12 1 24
% 11 7
12
1921 J -J 1091
109% 199%
1st gold 68
1934 A-0 113 114 11213'1Y 09
/
/
4
4
Clue e. Alo Riv Div 5s. .1920 J -J 1111
1113
4 111%
'
/113
41131
/
4
109 111 11016
Ala Mid 1st gu gold 58 —1928 31-N
4
.... 1 i 016 1 10%
Chn3 & Pao Div tis
4
4
1011 10174
1919 J -J 1th/3 1013 101, J'ne'tr.
/
4
116
961 J
Bruns & NV 1st gu g 45 1938 J -J
4
/
4
961 901
/
4
6
/
4
Clue & P W 1st g os
loS7
1921 J -J 1081 1101 1021's 11/87,,
61101
/
4
914 91%
0952 M-N
L & N coil g 4s
91% 41 86
1041
/
4
93'-.Dalt & Gt So g 5s
104% Aug'99
191t1 J -J
104%10574
97
tail Sp Oct/ Jati gug 48 _11118 • 9'l(4 J'ne'lr.
97(4
ifar & Sou satin g 08
97
1371
1924 J -J 129
/
4
0'1Y
Atlantic & Da.uv See South Its
/
41011 101
lit t ;Sa D Div 1st 78
/
4
st s
a
101 102%
1910 J -J 1001
Austin & N W See Sou Pacific
4
lul Mai'09
101 101
11110 J -J 1001
Dalt& Ohio prior 1g3440.1923 .1-4
933 94
4
1
4
'22 92
93
95
8
197
933
4
LaCrosse & 1) 1st 58
94
,07 3.(17
1919 J -J 106/ 108% 107
11.1 Registered
93 DflAy'Uti
41925 1 1•J
sMuy'09
1.013
Mineral Point Div os
.
1011 101%
1.910 .1-4 1012(4
/
4
Gold 4s
-tale 11101 100% Gu 997 11/1%
1120'-,
/
4
/41948 A-0 100.1‘
4
80 Muin•Div let 08
191 102
101% J' '
13' 00
Registered
/
4
10u.s 981 Aug119
41948 14-4
681 1003
/
4
4
Wits & Minn Dry g 53.-1911 J -.1 109%
1093 Aug'09
4
tt1:13 110
192 j-4
4
120 kJ,. 10.1
Pitts Juno 1st gold 05...1922 .1 • .3 1.05
6
Mil & No lat 31 L 0i
6
1013 1017
4
1910 .1-1) 10117 101.3 101% J'ly 01)
4
PJun & 31 Div 1st g 3t141923 M-N
88
89
J'ly
106
89(4
lat consol Os
88
107.4
107% 107%
P L .E & W Va Sys ref 4811141 M-N
6 (
1)37 --Fi 93
931 933 113%
4
4
90
Ohio& Northw cons 78....1915 9-1 111%61147 114% 115
6
141 116 4
/
4
3
19 1 3 f
:A 1001
)
Southw Div 1st g31
1.111-14 91
/
4
8....1923 .1 • J
'30(4
/
4
4 90
91%
`30- s
'
1003 J'ly'99
109%102
,
Extension 4s
1886 1926 F
Registered
91 Aprqh)
41925
91
981
/
4
91
Registered
993 101
A
4
1886-118276 -N
Motion Itiv 1st gu g 58..1919 -A
1057, Feh'97
1
3
901 110, 30 1
/
4
General gola 312s
6
901
9u, 947
/
4
s6
,1l
,
Con Ohio It 1st g41
/
4
8-193t, m -s 1140/211/4
103 Puellt)
9318 A pt '1,13
8. gistered
1tk g
ein
10
10 il18
% l i 33,
94(4 93%
p11.187 Q-F
CILor
W con 1st g 5s 1931 A•0 .113
113 Aug -09
fund 6s-1879-1929 A-0 112
112 Aug -uo
112 112
193
Ohio River RR 1st g 68 1936 J
,
/
4
1131 1 39'99
1101
1131 1131
/
4
/
4
Regustered
/
4
i093 109%
4
10U'4509'01)
General gold Os
1937 A•0
11(11 1101 J'ne 09
/
4
/
4
/
4
lt/81 112
Sinking lund 5s 187 ..1929 A- C9 109 110 110
108 1101
1 79 19 2
/
4
110
Pitts Clev &Tol 1st g Os 1922 A-0 110%
11111. '
/ 7110 0-1
4
1111 1193 Jan'09
Registered
/
4
4
1879-1929 A-0
1103 1103
4
4
Pitts & West 1st g 48 1917 J -J
138 Apr'09
1.6.Pe
Debenture 58
* iTti * 98
100 2. 110
ou1 101
1909 31-N
, 1' 'W'
/
4
/
4
8
Stat. 181 lty 1st gug 41 1943 J -1)
Nov'/4
100
Registered
190% May'ua
11M 31-N
it/06190%
Beech Creek ,See N I U st5
Debenture 5s
iu7 1031
1921 A-0 107 107% 1.071 A11/4 01)
/
4
/
4
Bellow & Car See Illinois Cent
Registered
103 J'ne'07
1921 A-0
Bklyn & Montauk bee Long 1
/
4
Sinking iund deb 58
1.11
111
1933 vi-N 1101
111 1131
/
4
Bruns & West See All Coast L
Registered
109 J'ly
1933 ‘11-3
Banal° N Y & Erie See Erie
4
North Illinois 1st 58
101 Apr'99
191 101.8
1910 0(1-5 100,
116% Aug'09
Buflalo It & P gen g
1161 1173
/
4
6
/
4
Mil L 8 da Wes/ 1st g 66 1921 M-6 118 119% 1181 Aug'ill
,
i851 119%
1115-, M-N
Consol 4'-3s
6
1 1 t1, J'ly'09
109 110'
Ext & Imp stun,/ g 513 1929 F -A 113
6
1/3
113
113 116
1(20(4 Aug'09
All & West 1st g 45 gu 1998 A.()
12 i.3
100 160/
Ashland Div 18t, g 63 1925 M-S
1
4
112/Feb4/2
4
1
4
4.4
103 J ty
GI& Mali 1st gu g
/
4
123is Apr'09
Mich Div 1st g 68
i223 1231
4
1924 J -J 1211
/
4
F -A
Hoch & Pitts 1st g
1173 Aug'09
4
102
117% 119
Incomes
11/313•
1031 103 1.4
/
4
71aY'09
Consul 1st g tis
129 Is
1922 J • D
1183 121 13 Chic Bock 181 & Pat: 68 I
4
113 4 11451
/
4
,
t.. 113%1131 113 43 Aug'09
s ij
'
Buffalo & Southwest See Erie
/
4
/
4
Registered
113 51 113 2
,
1917 J • J 113 114% 1131 1131
Bull & Suite 1st ref g 48411161 • - J
57
894 31sy'09
3 sa.le
46
General gold 48
871 90
/
4
.
13
99'4
8
1,8 .1.
9 8 3•J
995110(51
Bur C It & N Sex (.; It 1 &
ltJUL6.1.pr'Ul!
Registered
991
2
In-0 100
4
tan So 1st ex t 63
105% 105% 106
1913 3-J
7 106(4107
01.%
91%
Refunding g 48
Li 1,
6
v(J', 94
1934 A-0
k-j2t1
103
1021 J'ly'09
/
4
1913 .v1119
J'ly'04
/
4
Coll trust Seriesli 4s 191u M-N
1011 103
Ituguatered
.13-S
4
19214 1003 311.3'07
J 48
97'4
'J7 J'ne'01/
97
97
Carb & Shawn See 111el"
ciit
947
9
6
5Aug'02
Id -.s
1147
1 44 'J4%
, 3
11)10 evrtel•
l
Carolina Cent See Scab Air L
'33-5, hou'Ve
N 45
941
/
4
11110 M-N
9'3% 937
4
Carthage& Ad Seek, YC&
931
/
4
931 Aug't/9
/
4
1917 3/1-3
'll 48
US , 96
,
Ceti It Ia E N See 1IC &
9314 90
P48
931
/
4
93 ,
9,02 931
,
/
4
Oen Branch Ity See Alo Pac
79% Sale
Chic It I & Pate RR 48-200b ' 1-N
1912 11-N
791
751 821
/
4
/
4
bl/
/
4
1
4
Cent Of Gs RR let g 58..p1945 e- A 116
116(4 Ireb'01,
115(4116(4
Registered
80 J'ly'99
2002 Al N
60
80
Consol gold Eui
4
4 110%
1945 11-14 1093 Sale 1093
4 108(4111%
Coll trust geld Os
92 4 Sale
,
921
/
4
133
1913 Al-5
8714 941
/
4
Registered
113 Apr'06
1941 31-ft
Bur Ced 11 41 Northern
lat pret income g 5s....p11/43 Oct
13,
5
88
86% 85
579
8
1)07
Con 18t & col tr g 58-1934 A-0 1131
115 117
/
4115 1.15 May'Ob
Stamped.
801 110 J'ne'09
/
4
Registered
00
80
1201 Mar'03
1934 A-0
/
4
2u pret income g
1
thll , 73
76
75
84
CktIk'tia NW Istgu 68.11121 A-0 104
4 03
111 Nov'05
20 pie income is Oki Stumped
* 73
75
76
84
M & St L 1st vu a 7:3_1927 4-U
0 00
U.
(.0 Vet'
•ni
U S 28 consul registered.a193,
U S 2s consol
U S 38 registered
ic191U S 3s coupon
/2191,
U S 38 con small lionds ,.:1912U S 4s registered
192:
192::
U S 48 coupon
US Pan Can 10-30 yr 2s.k193,

•

ii ISCIA,LANE.011is BOA Os—Continued on Aust. Vasco.
Street Railway
Brooklyn Rap 'In g Os
1945 A-0
2002 J
1st refund cony g 1s
BkCity 1st,con 5s.11/10 1941 J -J
Bk Q Co& Scongu g 58 11.141
Bklyn On El lst g 4.58 11)50 F•A
Stamped guar 4-58.-1959 F -A
Kings Co El 1st g 48.-11/49
11/411 F-A
Stamped guar 48
Nassau Elec gui it 45— 1961 -3
Conn lty& I.1st& ref g 4 138'51 J..1
Stamped guar 4 433
1951 J -J
Den Con Tr Co let g 5s 193; A•0
)
Del United 1st con g 41 1932 3.3
3
/
4
Havana Elec consol g 58 1952 F -A
Inter-Met coll 4 4/s
191t5 A-0
Inter Rap P 3.yi cony 08 1911 MN
Internat mac coil tr 45 1941, 1-J
Manila Elec 1st & coil 58 11)53
S
No price /friday; latest thus week..




street Railway
e
Si et St IV gen col tr g 55 1997 F-A
1061 1063 J'ly'09
/
4105
/
4
1021
811 84
/
4
9p J'ly'09
81% 92
86% Sale
85%
873 iUt; 811 ti9,
4
2002 A-0
/
4
48 .
. Ref g 4s
48 J'iy'09
43'-1 03%
1033
103% J'ly
4
liway&7thAv lstcg 581943 .1-D
/
2
1021105
105 10451 J'ly'09
103 1051
/
4
99
Col& lith Av 1st gu 553.1993 31-S
991 99 13 Mar'09 •..•
/
4
1110 113213
1021 100 J'ne'09
/
4
1031 104 10314 10314
100
/
4
Ay& P let gu g 581993 71-S
Lex
,
100 4
100 101) Aug'09
Ithl 1021
/
4
14
10/ Aug'09
/
4
Third Ave RR con gu 48 2000 J -J
1021l4
60 J'ly'99
051 721
/
4
071 71
/
4
/
4
87:
8714 J'ly'00 •••. 86
87
Cent Tr Co certis stmpd...
66 Sale 68
69
55 6314 72%
87 Salo
87
Third Ave By 1st g 63 1937
87
88
/
4
6 85
109 1101 WU% Ply '00
108 1161
/
4
82
83
824 J'ly'06
N Orl Ity & Lt gen 41 _1931 J J
0
/
4
781 84
/
4
,
861 864 861 Ang'0-.
/
4
831 86's
/
4
,
102 J'ly'09 •••• 192 102 , St Jos Ry Lt 1141 P 1st g 58'37 11-N 101
98 Nov'08
102%
1021 J'ly
/
4
101%102,, st Paul ..hty Cab Gon g 58.1937 J -J
11012 ov'06
•
.
15 J'ne'Ot
Tri-City Ry& Lt lets f 68.1923 A-0
99
97
99 Ply'09
98
99
84% 82 J'ly'09 ...• 81 / 85
u utierground of Lou 5s. 11)21, 31-N
98 .k.pr'09
1
4
98
'391
99
/
4
89
92
89
92
89
811
J -J
4 138
845, 2t. 7344 86
84
84
821 Sale
4
82
83% 601 76
22
Income 68
37
85
371
85 Aug'09
/
4
1948
1011 104
4
/
4
103 1043 Union Iii (Chic) let g 53 1345 A•
104'6
84 (Jul
72 16 71 1 J'ly-'041
United Bats San Fr s t 48 1927 A-0
717 7"
6
72
79%
76
757 76
,
98 m 3006 • •
United Rys St L let g 48 1934 .1-3
84% Aug'09
84 14 86
85
1151at. aDue Jen il Due Ayr e Due .risy p Due J'us allue J 'ly 'cow:, Aug °Due Oct p Due,ov a option siaUs

516

New York Bond

ISONDs
N. Y. STOCK EXCHANGE
WEER EsniNa AUGUST 27

az,
August 27

Weeie's
Range or
Last Sate

[VOL.'Amax.

BMA-Continued-Page 2
Range
Since
Ianiearl, 1

110511s
N. Y. STOCK EX(11.1ANC4F.
Warm ENDING AUGUST 27

Priee

Ionaay
August 27

1

Week's
Range or
Last sal,

Range
Sines
January I

R tg
Ass Low
Hui
Low
oI
dent
etal how
iiti No tow High Erie-(Con)
(Jon)
Chic Rock i & Pan-(
1051* 1071
102 Aug'09
N Y Sus& W 1st ref 58 1937 -4 106 103% 1054 May-09
Choc ok 411sU gen g 58.81919 J .4 104
1004 1)ec'0,
F-A
9Aug09
110% 11.1 1
111 1111
/
4
93),
/
4
8
1947
1952'E
2(1 gold 41
Consol gold Ids
90 Aug'09
- 1;(*)-- 97
F- A
88
91
103 105
General gold 68
Keok & Des Ai 1st 5s. 1923 A-0 105 106 105 Mar'01.
1141 Dec'06
/
4
114
......
Terminal 1st gold 58 19411
Chia St & N 0 See IfiCent
Regis $5,000 oach 1943
Ohio St L ea Pitts See Penn Cc,
1011 102
/
4
11)11* filay'Oe
/
4
128% 130%
Mid RRof NJ lstg68 1910 A-0 100
Chic St P M & 0 con 6s 1930 .1% 128 1291 1294 Aug'09
..01 105y
/
4
93 Dee'011
Wilk & Ea 1st gu g 513 1942 -I) 10441064 1011 Aug'01,
/
4
8
Cons ds reduced to 31 1931 .1-1) 92
1091 115
/
4
/
4
0281 129%. .tv& Ind 1st con gu g 68 1916 .4 112 114 114 Aug'01
1281 J'ly'09
/
4
Ch St P & Mum latg tis 191 81-Is 1284
129% May'tn,
129%129% Erie .0 Pitts flee Penn Co
Nor Wisconsin 1st 68-1930 -J 128
112 1153
1151 J'ly'09
/
4
1161 Aug'01/
4
115%119
Evans.0 T 11 1st cons 68 1921 4-4 115
St P & S City 1st g 6s 1919 A-0 115
103 1041
/
4
112 1121
112¼ Apr'09
/
4
1942 A•0 103¼ Sate 1031 1034
1st general gold Os
Chic& West Ind gen g 6881932 14-111
114 A pr'00
944 Aug'09
941
/
4
944 98
Mt Vernon 1st gold 68 1923 A-0 108
1952 J..1
Consol 50-year 4s
95 J'ne'06
A-0
Still Co Branch 1st g 68 1930
Chic & W 1%1101 See Pere Mani
14
'argo & So See Cli 141 & St
Choc()& Gulf See C RI& P
113 Oot '00
1- lint & Pere Id See Pere Mar
/
4s 1937 -4 101
Oin ki do 14 2d gold 41
.95 1091 Fla Cie Penin See Sea Air Line
1091 Aug'09
/
4
105
/
4
Oin D do list gu g 5s 1941 .41-N
105 Mar'96
813
4
Fort St U D 001st g 4128.1941 J gu 4s g.'23 14.-N
0 Find & Ft W
9117t
1151 115.i. 6 /14,
/
4
70 Aug'08
115
0
1921 J
Cin 1 & W 1st gu g 48.1953 -J
.85
88
* ihiZ;"- 611* Ft W & DenGr1st gg68 1926 J .4 8534 87 86 J'ly 'Olt
9612Jan'09
9
Et W & Rio
lat 4s
Ind Dec & W 1st g 58 1936 4-4 105 110
1071Deo'02
/
4
1935 -J
4 1 al Har ea S A See So Pac Co
1st guar gold 5s
97
99
97 J'ly'09
& H 021882 1st 58.1913 A-0
ties000&StL
I St L.& 0
Georgia & Ala See Sea A Line
OinS&O blee (J 00 St L
as Car & Nor See Sea A Line
Clearfield & Mah See B B & P
9814
981 84 974 987 Georgia Pacific) Sea So Mty
/
4
0 98
9
Cloy Cin (lea St L gong 481993
94 1
9
9419 97
941 Aug'09
/
2
Una V G & Nor See So Pao Co
Cairo Div 1st gold 48.-1939 j
941 sale 94¼
/
4
94
u4¼
95
Gouv & Oswegat See N Y Cent
Clu W& M Div 1st g 48.1991 J -4
1/57 913
9
96 Aug'09
954 973 Grand Rap & Ind See Penn RR
4
St L Div 1st col tr g 4s 19110
91 Ow '07
4-N
1990 1
Gray's Pt Term See St L S W
Registered
98 13, 974 99;
96
92 Feb.
06
97% Sale 974
-C B& Qcoll tr 4s 1921 J - J
Ut Nor
Sir & Col Div 1st g 48 1940 M-S
974 1/9
98 Sep'06
977 Aug'00
6
Registered.h.
1921 Q-J
W W Val Div lst g 4s 1940 J • J
106 106
106 Apr'Oe
/
4
Greenbrier By See Ches & 0
01 St L & C consol 613 1920 Md.\ 1041
97
971
'09
981
/
4
9812 98% Gulf ea SI 1st ref& t g 5s 51952 J -J
98% Aug'09
97/
1
4
95
.k1936
1st gold 4s
98
98
118 Aug'09
an & St Jo S55CB&Q
k1936 ..F
Registered
10919 109
/
4
ousatonic Seen Y NH&
Gin S& CI con 1st g 55-192b 4-4 1011's 109 4 1091 May'09
12 104 109
1111
/
4.Ply'09
/
4
/
4
/
4
1111 Ili1 Hock Val 1stconaol g41 19111, J J 105% 1061 1051 106
/
4
1914 4-D 111
/
4
8
CCC&I consol7s
/
4
1041 1001Sol) 08
Registered
/
4
'
1914 -I)
1901' J J
Consolsink fund 7s
-)S's 981
/
4
981 100
/
4
98.4 May'09
001.011 V 1st ext g 4s 19
& II
t
t A-0
General c,onsol gold 68 1934 4-J 127% 1281 130 Nov'08
0'1
993
119
991 991 Fe0109
/
4
/
4
(101.0 Tot 1st ex 4s
1955 F.A
1934 -4
Registered
94 J'ly'Or
Flutist E& W Tex See So Par
Inc Bl & W 1st pret 48 1940 A-0
lionst& Tex Cen See So 1/ac
58...(4193 Q-4
0 Ind & W 1st pf
1124 961* Illinois Central 1st g 48 1951 J•J 104
103%104
951 93% Aug'09
/
4
104 Apr'09
Peo & East 1st con 4s 1940 A-0 94
1 10
60
OU
60
601 I. Registered
/
4
65
107% Aur'07
1951 J -J
1900 Ain
Income 40
99
0
99%
195r, 31-N
99% 11115
.11 7) ; 101;
9- ,
.
1st ref 48
Clay & Marietta ties Penn Rh
909
94 Aug'0,
921 94;
/
4
/
4
s
1st gold 31
9.
1951 41
1 5 1.
Clev & Pitts See Penn Co
2 80
84
94
83
84
91.4 Aug 08
871
/
4
Registered
1947 J
Col Midland 1st g 48
17 974 99
99
031 May'Oe
/
4
...... 941
98
1/81* Salm.
Extended 1st g 31
/
4s
1951 A•0
Coloratii & Son 1st g 4s 192f, F -A
lie 98 41U01*
130 J'ly'06
80
981 sale 98,
/
4
80
2 99
1001 .51.
1st gold 3s sterling
1935 M-N
Relunti & ext 419s
/
4
/ 4
4
/
4
Coll Trust gold 45
1952 A-0 1021 Sam., 1021 1021 1. I.00 1021I
Ooltisu & Ureenv ties So By
99 J'ne'01)
99
99
Registered
Col & 1-lode Val See Hook Vai
/
4
/
4
101 1001 lutl1 5 99 1011
L N 0& Tex gold 48
195 • 1-°
19 ;1 A -14
5 1
Col & Tot See Hock Val
97 :Mann
Registered
W
Col Conn dir Tenn See N
9912 100
Imo% 100 Apr'09
Cairo Bridge gold 4s
5 1
195 .1--N
19 J D
Conn & Pas /flys 1st g 48.1943 A •(.
894 92
95
861 st)1*J
4
95 Jan'09
93
LoutsvDiv&Term g3 12s 1953 -1 •.
1
1952 J - J 100
Cuba RR 1st 50-yr 5 g
123 moy'96
100
Middle Div reg Os
1921 F•A
& Gt So see()M& 1St P
711
79 Apr'01,
70
"
1951 b'. A
Omaha Div 1st g 3s
falias & Waco See Al If. dr '1
'794 Dec'08
St Louis Diveliterm g38 1951 J - J
Del Lack & Western
...... •••••I
79
111 115 11314 J'ly'09
red
a
1134114%
tstt
,
1951 J
Morris& Essex 1st7s 1911 111-N
901 l.;;;P- 1;
/
4
6
/
4
/
4
•
116 116% 116% 3 1151117%
Gold
1961 J-J 881 89 1011 Oct '99
1915 .I
1st consol gnarls
/
4
58.9
•
127 J'ne'05
Registered
1915 J
Registered
100 Nov'Ou
4
94
963 94 Ply'09
93% 961
/
4
Spring Div lst g /
1
4
51
6 1951
200 J -D
1st ref gag 3's
1.a 1004
1003 Alay'09
4
119 121
119 Aug'ul.
98 14
Western Lines lat g 4s 1951
N Y Lack & W 1st 6s 1921 -4 1184
/21 121
121 Feb'09
119
1/01211'.:1;
101 111 111 J'iy '00
Bellev & Car 1st (is
1923 4
_
192
Construction 5s
08
98
98 laar'09
9919 100%
06 100
4
99.4 1014 1005 Aug'09
Carb & Shaw 1st g 48 1932
1923
Term & improve 48
i18., 120
119% Aug'09
1024 eu'03
93
Chio St L & 0 g 5s 1951 .
1-1, 119%
1
4
s
Warren 1st ref gu g 3/ 2000 F-A
1183 119
4
118.4 J'ne'Uu
120 122
120 May'09
9
Roid a ered
G egisti2s
1951 4-1) 117
M-S 1207
001 ..11, kind 1st Pa Div 73 1917
LIU
90 Feb'09
90
92
1411 Aug'01
/
4
1917 M -5 1201
Registered
/6
191 103
/
4
102 9 101% 102
Memph Div 1st g 4s. 951 J : : r 119¼ 991 IOU Illar4
1151 j t
1943 M-N
1st &ref 4s
98 J'bot/6
•.....
1054 Sale 1054 106% 41 100 107%
Al-S
1st gu g
St L Sou
1916 J -D
10-yr cony deb 48
9
9 2 It/112 DM% Ind B1 ea West klee 00 0 St I.
&
1922 -4 102%103 1027 1027
4
1st hen equip g 41
/
4
96
97 107
104
984
98
1U5 104
991 98 J'ly'06
/
4
Ind III & Ia 1st g 4s
1960
1114 A-0
Alb ,31: Sus conv 31
/
4
11
109 112
/
4
1281 1231 Int ea Great Nor 1st g 68_1919 11-1 109¼110- 1091 Aug'09
4
1281 J'13"09
/
4
/
4
'
Rens & Saratoga lat 78 1921 ,VI-N 1284
1909
100.9 Aug'01)
85 103
101
gold 5s
Del itiv RR Bridge Bee Pa RE
98
48
'ne'ul)
/
4
50
971 2 96
/
4
471* 48
3d gold 48
/
4
1921 •`1Deny & Et Cr 1st oon g 46 1936 4-.1 r 974 971 971
104 J'ne'09
103 106
/
4
104
106.4 108% 1051 A.ug'96
105 41114
Iowa Central 1st gold 58 1936
193'
()onset gold 412s
1013
'171 13 76% 82
/
4
41031
/
4
102 IS J'ly '01i
76% 76%
1021
/
4
Gold 48
1951 41-8
Improvement gold 5s 1928
9579
92% 902
95.4 Sale 1454
1956 F-A
1st 6,, remanding Se
118 Feb'06
' A
t an &Viclit See TOIS A1
it.
al
k ASes I :00.'
Rio Cr Juno 1st gu g 68 1939 J
78 J'ne'09
75
78
80
KOFtS&AL SeeStL&SF
Rio gr So 1st gold 48- 1940 .1-J
85 Mar'08
KO&MIt&II iSesStL&SJi
194 J -J
Guaranteed
3 95 1001 Kan 0.0 Pacific See M K & '1
951
/
4
/
4
951 951
/
4
/
4
J -J
Rio Cr West 1st g
/
4
83
4
87
/
4
/
4
84% 851 J'ly'02
741 741 11 713 75%
/
4
Kan City Soulst gold 3s 1950 A-0 741 75
Mge and col trust 48A.1949 A-0
97 Jan
115
63 Oct '0i.
Registered
Utah Cent letgag 48 al917 A-09
/
4
1001 Sale 1.004 1007 53 10019101N
Ref & impt fis(wi)Apr 19.16 A195:1
Des Mot& Ft D See 1.1. do St L
110 Sep '04
Kentucky Cent bee L oN
Des Moi Un By 1st g 56 1917
95 J'ly'09
93
95
Kook & Des Mo See C It IdIrP
Dot 41, Mack let lien g 48 1096 .1-1)
88
92 J'ly'09
92
94
Knoxville & Ohio ties So By
1995 -I/ 91
Gold 4s
91154
/ t- 1125
4
9
83
Detroit Southern
I ake Erie ea W 1st g 58-1941 -4 1143 Sale 114% 1141
LOT 1094
();
815
9
82
1U7 Aug.
811
/ 81% 11 80
4
J -4 107
A-42(.1 gold Os
Ohio Sou Div 1st g 4s 1941 81-S
112191141
4
1-0 112% 114% 113 J'ly
1111 116
/
4
11112J'ne'00
North Ohio 1st gu g
Iron Range 1st 53 1937 A-0 112
Dul do
1121 109/Mar'Ob
/
4
1
4
L 51i0.0 Mich S See N Y Cent
Registered
1937 A-0
-----106121081
/
4
107114 Aug'01Leh Val N list gu g 4123.1910 J.J 107%
191.
21 68
2 107 107
107
J .4 107 107 4 0/7
Registered
Dui Short Line ties Nor Pao
67
98
97's 97'4 9719 J'ly'09
1101 110 19 Lehigh Val(Pa)cons g 48 2143
/
4
0)
'
1101 Feb'01)
/
4
Dal So Shore & All g 58 1937 4-4
t15% 118%
115.4 ,Ply
/
4
Lou V 'Per By let gu g 58 1941 A-0 1151
Vast of Minn See StPM& Al
/
4
1091 Oct
A-0
Registered
llsa,st Ten Va & Ga See So Ry
109 109
109 J'ly'09
1124 115
:
Leh V Coal Co 1st gu g 58 1941 -4 106.4
t) 1;s
115 Ang'09
110
Elgin ol & East 1st g 5E1.1941
116
97 Aug'09
97
4
Leh&N Y lat guar g 4s 194i, 5 963
Elm Con & N o See Leh & N Y
.11-s
9919 Al ay'08
Registered
..i.b 101
1947
Erie 1st ext.gold 48
111 Jan 't/t;
1051
/
4106%
.
1064 Ply'09
El C N 1st pf Os
1914 A-0 1021*
”'
1067
9
1919
2(1 ext gold l's
1051* Jan
A- ti 1011
4
10419 1041
1041 Apr'09
/
4
/
4
Gold guar l's
1031
/
4
192$
/
4
8
136 ext gold 41
/
4
106 1071 Leh Sa Bud R See Cent of 91.1
1N 4
/
4
107:Aug'09
1920 1.0 1071
4.111 ext gold Os
ill .97
137 41111 09
Leh & Wilkesb See Cent of N J
1928 .1-1) 98
5th ext gold 48
12241254 Leroy & Caney Val See Mo P
/
4
11)20 1-3 125 125¼ 1241 Aug'09
1st consol gold 78
122 114
121 124 Aug'09
Long Dock ties Erie
1920 .11-S
1st(mongol g fund 78
112 Ang'01
110 112
91
891 6 85
/
4
Long 181'd-lat con g 58./t1931 Q-J 112%
/
4
881* 891 89
-4
Erie 1st con g 48 prior 199
981
/
4
861 86 4
/
4
1st consol gold 4s
A1931 ko
861 May'09
/
4
J-4
Registered
1119
97 4 Ply '011
193
17% 98
90
974
/
4
/
4
781 192 001
/
4
General go d 4s
1936 4-1)
771 Sale 76
1st consol gen lien g 43 1996 -4
0101 1004
98 104 It/t/ Ape°
/
4
Ferry gold 412s
1922 A-8
851 Feb'07
/
4
Registered
1996 .1•J
1)91* Out 'Ili
97
90
4
87¼ Aug'01
751 90
68
Gold 48
Penn coil tr g 4s
11/51 F-A
1/13 Aug'01'
/
4
961 1/9
96
97
86
Coaled gold 4a
2 63 804
1953 A-0 88 Sale 86
50-year cony 43 A
1041 Deo Ub
/
4
/
4
77N 1;34 571 80
Debenture old Os
do
Series B..J953 A-0 '14 19 Sale 14%
4
97% 951* 961 Angtr,
97
99%
81-8
/
4
115 1161
1164 117% 11111 1161
/
4
/
4
Guar ref gold 48.
Bull N 1.0 Erie 1st 78 1916 -D
115%117/
1
4
9 1191-;
Bklyn & Mont lst g (38. 11:‘111
116 115% J'1,y'09
Chic & Erie 1st gold 59 1982 81.14
,101.
Dec'Ut
.
-121 Dec'08
lst fus
(11.ev & laIioi, Vat g 68 1936 4-4 1i0'4
1101IN ov'Ot)
/
4
v -0
,26 1281
/
4
127 4'110'09
N B& 13 lst con08193l 'l-8 1064
191 b A
/
4
Long Dock consol g 63 1935 A-0 1261
'1212 120
N 1.0 R1.1 1st g 6s
1921 -11-8 103 108 105 Apr't1
114 114 J'ne'u9
Coal& RR 1st cur gu 68 192' M-N
109 Nov'06.
106 110
Nor ShIM 1st con g gut's 21932 Q-J 102%
10612 110 Apr'09
Dock & Imo lst our 6s 191' J.4
941 338¼ 96 Aug'09
/
4
96
90
108 108
Louisiana & Ark 1st g 58 1927 M-S
108 Mae(19
& green L gu g 68 1946 pa Is 105

H

J)

AllsVELLA

Ur 1105115
,
-0ontinated on Next Page.

Gas and Electric Light
/
4
100% 104%
NYGELH&P g 58...1948 J-D 103 1031 1031 Aug'09
/ 861 17 831* 867
4
8612 sale 861
/
4
1071 108
/
4
9
Purchase money g 48...1949 F -A
107% Aug'09
100¼ J'ly'09
1001 1007
/
4
60
74
9
Ed El III 1st cony g 6s...1910 M-8
J'ly '01/
73
70
111% 111 /.1'1Y 09
1
4
1.10 112
1001
/
4102/
1990 J-4
1
4
1st consol gold 5s
'
101 Aug'09
101
981 May'09
/
4
97
981
/
4
NY&QE1L&P lst con g 681930 F-A
95% Sep'08
100 102
97¼ J'ly '119
100
N Y & Rich Gas 1st g 68.1921
97% 97,
2
96 11,1s r'06
1043 N0005
4
Vat Ai Pas kr} & B con g 58.1949
/
4
611 Oct '01
/
4
84
Peo uas & C 1st con g 63 1943 A-0 119 120 1201
834 2 80
1 19 121
81
831* 83
104
104 ialt 104
5 i 02% 104
Refunding gold Os
1947 M-S
150 Sale 160
152'-o Si 138 15,5
4
/
4
193 1041
ChG-L& eke lstgu g 6s 1937 J -4 013% 1041 1044 1041
/
4
101 1074 Dec'00
/
4
1/41 A mem.
95
105 105
86% 94%
Ind NatGas& Oil 30-yr 58'36 M-N
104% 1051 105 .rly'09
/
4
100 100
101% 103
Con C Coot Ch 1st gu g 56.'36 •D 102 14 103 102 May'01
96
LOU May'09
0113 ,Ply '01
Mu Fuel Gas lit gu g 68.1947 .8- I'S 1011*
101%1015
4
1041
/
2
99 194'60'09
110 118
997
9
991 991
/
4
Syracuse Lighting 1st g 08.'51 -D
9
/
4
1171 1171 Aug'09
/
4
110 M sy'Ob
Trenton & El 1st g Os 1941 M>38 Sep '08
96 Jan'08
102.4 105
Union Elea LISP 1st g 58.1932 M S 100
1034 1031 1034 Aug'01
/
4
100 1014 Utica El L& P 1st f g 58.1950 •
10014 101 100 J'ly'09
102
1)[3, 16 91
102 1'2 At
1021 1024
/
4
921 Westchester LighVg a 08.1950 ID 10314
91
911 91
/
4
/
4
0 prase eriday; latest 1116 and asked MIR week.a Due ., an b Dab web i4lIue Apr Due ...tay It true 417 is uue xug o Due Cot qDue ,,co jOotion Ulb

Gas and Electric Light
Atlanta L Co 1st g 613-1947 .1-D
Bklyn U Gas 1st con g153.194 81-14
1947 A-0
Banal° Gas lst g 6s
1923 -4
Detroit City Gas g 6s
Dot . , 000 1st g 5s 1918 F -A
44a
Itlq
Lk{ 71st con g58 193'
Gas& Eleo Berg Co c g 5s 1949 4-1)
Gen Electric deb g 3196..1942 F.A
1917 -D
10-yr g deb 5s
Cr !tap U. LC° 1st g 5s 1916 F -A
Hudson Co Gas 1st g 68-1949 M-N
Kan City(Mo)Gaslatg 68 1922 A-0
Kings Co Et L & P g 6s...1937 A-0
Purchase money 68
1997 A-0
116 El 11 Ski 1st(xin g 4s 1931' J -J
laic Gas LotSt,L 1st g 5E1.81919 14-F
Ref and ext 1st g Os
1934 A-0
ilwaukee Gas L 1st 48_1927 M-N




102
107%

•

New York Bond

AUG. 28 1909.j
BONDS
N.Y.STOCK EXCHANGE
WRECK ENUINO AUGUST 27

r

:
Cr
•

Price
Friday
Auguat

Week's
kange or
Last Sate

517

iteCOrd Continued-Page 8
-

Range
Since
January 1

BOND")
N. Y. STOCK EXCHANGE
WEEK ENDINu AUGUST 27

Price
Friday
August 27

Range
mace
January

Week's
Range or
Last Sale

B144
A 801 Low
Nign No Low Hign N Y Cent &
Eta
8--wentinueu
JJA Low
to' A4 Low Nigh
, ,
Lottiev & Neely gen g 66 193( J-D 1151
/
21161 1164 1161 4 1151811714
/
4
/
2
/
4
Itoh & Mal let go g 4s..1991 31-8 1001
1001 Aug'09
/
4
/
4
100 1001
Gold be
117 May'08 .•.• 110 117
1937 M-N 116
943
9
NJ June ti en let 4s. .198e F
105 uct '01
8
,
9117 sale 9934 1001/4 31 993 1021
Unified gold 4s
/
4
1944 .4-4
91
N Y Ay Harlem g 312s. .2000 M-N
961 Oct'0/
4
too May'01).•.. 100 100'..
Registered
194t J -J
/
2
N Y& North lat g be...1927 A-0 109 113 1071 Aug'08
105 J'ne'08
Sink fund gold tle
1911 A-0
100 Sep '1.1b
N Y & Pu let con gut g 4s 1993 A-0
1
2
110/J'ne'09
41101
1.083
/
2
1931 M-N
Coll trust gold be
Nor & Mont 1st gu g 53.1916 A -0
/
4
111 1.1114
1111 Aug'09
E H & Nash 1st a 6s
1911 4-0
j
Pine Creek ree guar 6s.1932 J-0 124 130'-. 1314 Jan '0E1.31 12 1311
/
2
.
1074 J'ne
-• 1074 107%
• •
L Cm & Lex gold 412s 1931 M-N
t10 InI
W&Ocon letext5s.h1922 A-0 109 1174 110 Aug'09
1250 ' 09
1243 1253
8
4
1934
N 0 & M 1st gold 1.3e
8J 13"
. 1156 105 Jan V.
Oswe & B 26 go g os...e1915 F-A
120 Jan '09
120 120
1930 J -J
N 0 & M 2d gold Us
4
RW&OTRletgug 58.1918 M•N 1063 111
1074 Aug'06
Pensacola Div gold 3e 1920 M.8
103 Sep 'te.
Rutland 1st con g 4128..1941 J -J
117 May'07
St L Div 1st gold Us
1921 M.S 11444
931 94
/
2
931 Aug'Ob
/
2
9312.
141
Og&I.Cham 1st gu 45 g1948 J -J
75
71 Alay'09
71
7/.
1981. M.S
241 gold 3s
911 92 J'ile'Oi•
/
4
Rut
.
-Caned let gu g 4s.19414 .1 -J
903 92
052 Sale 951
,
/
4
95
951
/
2
961
/
2
Atl Knox & Cm div 48 1955 M-N
St Law & Adir 1st g 5s 1996 1-4
115 Fet)'09
115 115.
116 116 J'ly'06
Ati Knox & Nor let e 581944i J
A.-0
125 Feb'Uti
26 gold 68
110 Jan '011
110 110
/lender Bdge lets f g 66.1931 3.1-8
1031 Dec'08
Utica & Blk Rivgug4s.1922 J -J 101
/
4
1998
97 18 973 971
/ 97/ 1 96
4
14
1
2
983
Kentucky Cent gold 48 1987 J -J
Lake Shore gold 312s
91%
91%
2 91% 95%
1997 J.1) 91% Salt
103 Dec'08
s1945 M-S 1054
L&N & &M letg41
/
2
1)0-a
91
Registered
:3) 1-018 941
199? J-D
/
2
110 Sale 90
911
88
/
4
110
Leo N-South M joint 48.1952 ,1 J
941 941 941 95
/
2
/
4
/
4
Debentn7e g 48
5: 943 9?
1928 3.1•S
1,31
,
/
2114 1131
/
2.7'1y'09
112% 1151
/
4
.1931 F- A 1131
& Ist g g
N
-n
943 Sale 946
4
M-N
25.year g 4s
1143 2
8
4
93
971
/
4
/
4
1945 J • J 104 1061
N&C Bdge gen gu g 41
s
5s.'
/
4
Ka A &G Rlst gu o 58.1938 J -J Ill%
......
101,18 NI EIV OU
'
109 109/
1
4
.
Pens 4, AU 1st gu g 6s 192 1 F•A 1104
1
2
Mahon 0'1 RR 1st 5s...1934 J J 113/ 11(1 109 Oct '07
.....
1141 11514 Feb'09
/
2
1121 1151
/
2
/
4
& N Ala con gu g 5s 1936 F- A
Pitts & L Erie 26 g 5s.a1928 A-0 102
100 May-08
9519MarOU
M-S
94
951 • Pitts McK & list go 68 1932 J -J 1261
/
4
L & Jett Beige Co gu g 48-1945
/
2
1391 Jan 0
/
2
i3 1.2 18 is
'9
LNA&Ch See Ol&L
2d guar 68
J -J 1261
/
2
••••
Mahon coal See LS&MS
/
2
MoKees& B V let g 6s 1934 J• J 1111
1
918
99
99 Aug'09
9218100
-Y-Lanhattan Ry consol48 1990 A-0
1
Mich Cent let consol 613 19011 31-23 110
101 Feb1114
101 101
104 Apr'05
1994 A •0
Registered
1137 1113 1143 Oct 08
8
58
,
1931
991
/
2
99%101/3
Stmptl tax exempt 1990 A-0 911 42 Sale 99's
4
112
119 J'ne'Oe
Registered
510K'pt & B V .See 2'i V Cent
48
991410014 1004 Apr'09
10014100¼
1940 J-J
931 -M
83 May1111
89
82
Max Cent cons g 4s trust rects
Registered
10614.Nov'00
1940 J -J
27 J'ly'09
/
4
211 281
/
2
1st cons too g 3s trust recta
20-year deb 4s
93
9.3
10 923 951
113
4
/
4
1921. AO
221
/
2
251 Apr'09
/
2
20% .1514
26 cons inc g 3s trust rents..
L & let g 31
90 Pue &lb
/
2
8
1951 M-S
80 J'ly'09
SO
80
flex Internet 1st con g 4s.I971
1st g 31
/
2
s
9312.Ply'UV
91
911 931
/
4
/
2
1952 M-14
80 Feb't1/4
guaranteed....1977
Stamped
Bat C & Star 1E1Lp:1g:311 1989 J -0
10014 filay'09
flex North let gold Us. 1910 J •r)
10014 101
N V Chic& St List g4s 193'i A-0 1u07 1017 1011 Aug'09
8
/
4
4
100/ 1021
1
2
/
2
Mich Cent See N Y Cent
Registered
A-0
100 10012
1(1014 100 Aug (n)
Erie
611d of N J Bee
Ipbentures 4s
88
9212Ply'Ob
92
91% 94
1931
37
bill L & W See Chic & N V.
West Shore let 48 go. 23431 .4.4 19212 103 103
103
lb 101 10412
,
1111 & North See Cli N & St P
Registered
.4 -J 102
/
1
1001 101 2 2. MO 10314
/
2
'
1321 J'ne'09 •••• 1321813314 N Y & Ureenw Lake See
/
2
Minn & St L 1st gold 78 1927 J-1) 133
Erie
Pacific Ex 1st gold 6s 1921 A•0 1083
4
118 Jan '07
N Y & liar b'ee N I C & Hod
South West Ex 1st g 78 1910 .1 •
1013 May'09 •••. 1013 1031 N Y Lack & W See D L
/
4
4
W
lst oonsol gold 56
1021Ply'09 ...• 109 1111 N YLE
/
4
/
2
1934 M-N
W SeeErie
1st and refund gold 46 1941 M.s
844 8'74 N Y & Long Br See Cent of NJ
85(4 854
854
Des 61 & Ft 1) 1st gu 4e .'35 J-J
91
97 Apet/b .•.• ... ..
94
.
N IN it & ti-Conv 68-1948 J.J 138% Sale 13814 13814 66 13314 119
Kinn & 8t .L gut .SeeBClt&N
Cony deben 31s
/
2
/
2
107 1971 10814 91 U7/
1956 J -J
1
211)04
II StP 314 88 M con g 4 int gn'38 J -J
99 Aug'09
99 100
991
/
2
Housatonic R con g 5s 1937 M-N 1164
11842 Dec'0,
11 SS M.& A lot g 4 int gu 1926 J -J
99 J'ly'09
2812
99
99
N H & Derby con cy 50 1918 M-N
107 Aug'09
107 107
Minn Un b'ee St P M &M
,
N Y & North See N YC&li
Mo Kan & Tex 1st g 4s 1990 J
1001 Sale 1001 100% 4 98%101 1 NYO& W ref 1st g 4e-g1
/
2
/
2
4
4
98%100
98
9811 98
993
992 11-8
26 gold 48
88 Sale 88
88
4
2 863 88%
F•A
g
Regis $5,000 only
101 Larne/Ott
g1992 M-S
1st ext gold 5s
106 107 42 May'014 .... 10414 1091 N Y&Put See N Ye& H
11144 3.1-N
/
2
1st & refund 4s
1 833 871 N Y&RB See Long Island
86
86
2004
86
s
/
4
Gen s f 41
/
4
911 11 904 1131 NYS& W Sea Erie
/
4
90
1936 J -J
901 91
/
2
/
2
8
/
2
138 Apr'014 .... 88
891 N Y 71.sex & M See So Pac Co
St L Div let ref g
A-0
1.09 La NI ar't11) .... 10912 110
106 1071
Dal & Wa lst gu g be 1940
/
2
Nor & South 1st g 5s
104 J'ne'Ob
104 104
1941 M-N 103
93 Apr'09 .... 93
92
93
Kan ()& Pao 1st g 4s 1990 F-A
95
Nonf & West gen g 6s
127 J'ne'ub
127 128
1931 1111-14 126
/
4
113
Mo K & lat gu g 5s 1942 A•O 113 114 113
1 113 1141
129 Mar'09
Improvem't & ext g 68 1934 F-A 1114
129 120
109 1034 Aug 09 ... 108 112
K & Oklet go 514
1942 M-N
2
New River 1st g 6s
127 1281
/
2
1932 A-0 128 129 1261 Pne'Ob
al K &Tof T letgug5s 1942 31-8 105 1084 10% 198
5 106 110
N & W By 1st con g 48 1996 A-0
991 99
91.1, 5
/
4
,
88 1001
/
2
Sher Sh & So let gu g 58 1943 J -0
107% 1104 Apr'09 • 110(411014
97 .7'1300::
Registered
97
97
1996 A-0
Tex& Okla 1st gu g 5s 1943 M-S 107 108 1(18 J'iy'09 .... 108 1.1114
Div'l Intl& gen g 4s 1944 J -J
9:31 931 93/ 931 53 93
1
4
/
4
/
4
/
2
95
1920 31-N 112 113 113 J'ly 09 .... 113 116
A° Pacific 1st con g 6s
10-25 year cony 4s
3
/
2
/
4
1932 J-D 102 Sale 10, 4 1030.20, 931 1031
8
/
21028
Trust gold be stamped.a1917 31-S 1014 102 1011 10114
/
2
1 1001
Potash C & C Joint 46 11141 J -D
91% 8ale 911
91°4
/
2
i: 8uay 93
Registered
/
2
1041 Feb'07
..
a1917 51-S
1091 FelP05
/
2
C0& T let gu g 5s
1922 J -J 105
..
/
2
4
102
101 1033
1920 F- A 1011 1021 102
/
2
tat coil gold 54
94;
Solo V & N E let gu g 4a 19814 M-N
97
97
98
1 en, 981
. /
2
40-year gold loan 48
/
4
b3' 31 783 851 North Illinois See Chi & N W
,
831 83
1945 M.S
/
2
1)111Pne'09
/
2
96% 96
3d ?a exit), at 40
, North Ohio See L Erie & W
953
1938
4
/0
;
951 Nor Pac-Prior lien g 48 199? QJ 103 Sale 103
89
Cent Br By let gu g 48 1919 -A
933 951 954 Aug'09
4
/
4
103
102(4 104
89 Mar'014 .• 89
91
Den Branch U P let g 46 1948 .4-1)
.
1023 J'ly'09
Registered
101 103
1997 4-4 101
110 blar'05
Leroy& VA L 1st g5s 1926 J -J
General lien gold 35...
743 Sale 741
8
/
4
73 '75
14
,a2047
100%
8
100% Ply'014
Pao B. of Mo 1st ex is 48.1938 b'-A 1003
4
993
Registered
73 J'ly 'tht
72% 74%
a2047 4-F 72
113 'Ply'09
2d extended gold 5s 1939 J -J 114
1121 113/
/
2
1
2
St Paul-flu! Div g 48....1996 J -D .
1
2
97/J'ne'u.
..... 97
at3
971
/
4
St,L Jr M& Sgen con g 581931 A-0 110 1103 1103
4 11014 6 1104 112
4
Dui Short L 1st go 55..1918
4111%
/
4
Gen con stamp gut g 581931 A-0 110 111 11011 May'Oir
L10,
B & L/ coil tr 4e See Eit Nor
Unified & ref gold 48_1929 J -J
881 88.3 881
/ 881 2 86
2
/
2
. St P& N P gen g 6s....1923 F-A 120
903
4
/
4
12012 Aug'01.
120 121
89% 89% 891
Riv & (.4 Div let g 46 1933 M-N
/
2
89% 11.. 881 91
/
4
Registered certilic's..1923
119 120 115 May'Ob
115 1'201
/
4
107/Apr'09
Verdi V I & W 1st g 54 1926 M.S
1
2
St P 5s & Dul 1st 58.-1931
2dau1
11714Ply'07
114
118 Dec'06
Hob J & K 0lst 00118 g 50 1953 J -J
A-0 1041
/ 1 104 104%
2
1041 1041
/
2
/
2
liob & Ohio new gold tis 1927 J -0 122 1227 12214 Aug'09
8
119/ 125
1
2
let consol gold 4s
118
971 91)
9714 J'ly 't)b
2
1918 J -1)
9 7
6
1177 1181 1.173 J'ne'09
,
8
1st extension gold 68-A1927
/
4
117 118
Wash Cent let g 4s
944 96
921
/
2Jan '91.4
921 921
/
2
/
2
1948
90 Ply'09
General gold 4s
1938 11.8 89
861 91
/
2
Nor Pao Ter Co 1st g 68 1933 -J
115 J'ly
115 1161
/
2
4
112% Aug'09
Montgom Div 1st g 5s 1947 F-A 1123
1121 1123 Nor By Cal See So Pao
.
/
2
75 May10/3
Cairo coil g 413-611/30
85
St L &
.....
Nor Wiz See St P
&0
Guaranteed g 4s
146 101 Nov'/4
1931
......
Nor & Mont See N Y Cent
& 0 coil 4s See Southern
Ind (lb W Bee C C C St L
&
Kohawk & Mel Bee N I C& Ii
l..11110 Itiv RR See Bait & U
onongaliela Riv See B &
Ore & Cal See Bo Pao Co
Hoot Cent ,SeeStPM&M
tire Short Line See Un Pao
Horgan's La & T See S P Co
Oswego & Rome See N 10
Horde & Essex See Del L& W
0(1 dk, St P See C 8s N W
8
/
2
!Mash Chat es St List 76 1913 J -J 1103 1101 1111 J'Iy 109
/
4
4 Pao Coast Co 1st g 5:5...A946 4-fl
8
1107 1121
110
1 10914112
1091 110
/
4
/
4
1928 A•0 1121 113 1121 Aug'09
/
4
LI let CO11801 gold 58
112% 113% I. so of Missouri See Mo Pea
120 1161 May'07
/
2
Jasper Branch 1st g 613-1923 J•J
Penn RR let real eat g 46 1923
103 J'ly'014
L03 105
1174 Mar'05
Mehl N W & Al 1st tle 1917
Conseil gold be
10912Jan 'Ub
1091
/
21091
19110 31-S 10918
/
2
113 J'ly'04
1917 J -J
T & P Branch
Consoi gold 48
m-N 100
/
4
1021 May'0t..... 1021
/
210448
Washn & Shef See L& N
lste.s...
'or
Comical gold 45
MN 104 sale 104
1044 5b 104 10514
J-J 102 Sale 102
Nat of Mex prior lien 41 1926
/
2
4
102
102 103
Convertible g Slue
1918 31-N 11)21salt` 11121 104 164 97/ 1.1)4
1
2
/
4
944:4
2
/
4
1st consol 4n
1951 A.0
84
83%
85
54
16 80
Convertible g 3..28
/
4
98 Sale 971 98/ i.84 1143
1
4
4199
1915 J
94
Nat Rye of Mex pr 1415 1957 -J
941 95 :01 1121 96
95
/
2
/
4
/
4
Alleg Val gen gu g 4e 1942
100
911 J'ne'tri
......
e6 86
A.0 8?
Guar gen 40
8818 8712
1977
88's
89
D B BIt& Bgelst gu 45 g.'36 F-A
116
New 11
D SeeNYN.H&D
Phila Bal & W 1st g 4s 1943 31-N 103(4
10314104
104 J'ne'in.
tJJuuoltR Bee N Y Cent
Sod Bay ee So 1st g 5s 1924 J • J 11.10
102 Jan '00
N Y Bkin & Man 13ch See L I
U NJ RR & Can gen 43 1944
S
WI 11011
1116 10612J'ly'0b
/
2
N Y Cent& it Bay g 3/ 1997 J -J
911 924 911
/
2
/
4
911
/ 1 91% 944 Penn Co
4
1
2
8
-Guar let g 4 148 1921 J -J 104 1U6 105
1053
.
£04 106's
Registered
93 J'ne'011
1997 .1 • J
924 933
.
Registered
DA MaY'99
1921 J
1(13'.
104181(1414
Deben g 4s
951 951 95¼
/
4
4
1934 M-1.4
1151 :3() 936 961
/
4
/
2
8
Guar 31 coil trust reg 1937 M-8 91
/
2
s
110/J
94
1
2
Lake Shore coil g 31
s3/ 11 83
/
1
4
2
0 191.18 F -A 83 Sale 83
85%
Guar Voce& tr ser B 11141 F-A
1)1 J'ly'Ob
;AN
901 91
/
4
Registered
821 82 Aug'09
/
2
1998 F-A
811 841
/
2
/
2
Tr Co (*Mire gu g 31 1916 3I-N
973 Aug'09
4
971 1113
/
2
86'4 117 4
/
2
8
.
Mich Cent colt g /
1
2
8
/
2
831 b 821 843
/
4
/
2
831 83% 831
1998 F-A
/
2
4
Gu 31s tr etre
/
2
90 Aug'0(1
/
2
891 ut)
/
4
1944 -1-0 891
942
, Registered
83% 821 J'ne'011
.
1998 F.A
b2/
82
1
2
4
Go 31 tr ctfs D
0
J -D 90
901 1100
91¼ 903 Diay'Ub
/
2
4
Beech Creek 1st gu g 48 1936 J • J 1004...... 100% J'ne'09
.
1003 1003
4
Guar 15-25 year g 4s
100
981 996
9814 Aug'09
1931 A.0
/
2
8
Registered
102 Mai'04
1936 J -J 100
......
Cl & Mar let go g 4/ 1935 IA-N 1003 1043 110 .18.11
1
2
14
4
4
26 gu gold 5s
1936 J -J 107
(11& P gen gu g 4 Las ser A.'42 J-J 100
110'4 Jan '09
1104 1103
.
Beech Cr Eat'Big S1 51951 A-0 841
/
2
o
/
2
Series B
4
194' A-0 1093
109% 1 13"01.
.
11191 10913
/
4
4
Cart & Ad let gu g 48 1981 J.0
971 Apr'09
/
2
971 971
/
2
Series C 34
1948 31-N
/
2
146
28
1)6
96
10 196
Gouv& Oswe 1st gu g 58 1942 .1.1)
Series D 312s
957
1950 F.41
8
140 May'ue
......
,IIISL'El,[ k'NEOU:8 BON 13444
--Continued on Next Page

••..

Coal tuid Iron
Telegraph and Telephone
poi & LCogenetg5s..1943 F-A
98
98% Aug'09
/
4
94 1001 Am Telep cis Tel coil tr 4s 1921) J8
91% 9E3
932 947 936 Ang'09
8
Convertible deb g 58. „lull F.A
. 971 8? J 'ly '014
/
2
Convertible 4e
87'.
87
1936 M.6 10..48 Sale 103
1043 5- 4 921
/
41061
, 4
/
2
61r Rw Coal & C let it/all/114 A-0
10214 Apr'013
Mich. State Telep. let 58 1924 F-A
......
98%
99 Aug'ob
98 100
Heart Bit Coal lets t 4s...1940 J -J
95 Apr'02
Pac Tel& Tel ist be
1837 1-4
977 Nate 977
8
8
2: Ini1 984
138
/
2
Col Indu 1st& coil 5s gu..11134 F-A
84
811
/ 83
2
84/ West Union col In cur 58 193S J -J
1
4
75 '71
991 Sale 98
/
2
991 11 981
/
4
/
21021
/
2
Contin'tale lst 8f gu beg-11/52 F -A
1076 Dec'04
8
1
2
s 11.45u
1471 and real cot g 4/
......
94 Sale 94
12 933 96%
94
4
left & Clear C & 1 let g 08.11120 J-D
10? May'97
Cony 48, Series A
11136 MN
93
93
Sc' 84
961
/
2
92'.
Kan& H C &()1st s f g 5s.1951 J.J 100
1051 Dec'06
/
2
Nut U n Tel s Lund 68. 1911 04..N 100
100 Mar'09
95 100
Pleas Val Coal 1st gel 50.1928 J -J
105 Oct'00
ilantatacturnig Jc Inoustria.
Mesh Con Collier lets I 50.'57 J -J
8113 883 Ply'09
4
88
Allis.chalmers 1st 5s
4
89
86
193( .7 •
.
851 7(1 80
84' Sale 847
8
/
4
/
1
4
384
Sunday 0ree.c co g 5s....194i J J
78 IfelP07
l'12- A-0 1016, 103 102
Am Ag t,liem let c 58
1(13
14 96 19842
renn Coal gen Os
1951 J.J 103/Sale 1031 1031
/
2
1
2
lo 1 La 103¼ Ani cot Oil ext. 41
/
2
s
/
4
96
9814
981 1/166 1'81
/
4
/
8
4
98%
Tenn Div let g644
al917 A-0
108 108 Aug'09
14)6(4109
Am Hide & L 1st el g 68_1111:. .)1•b 1011/2
.01% 1021 21 963 1021
/
4
4
/
2
Birm Div lst corm'0..1911 J -J
108 1018 10714
t 061 104
/
4
Amer Ice 81ecur deb g 6s 1921 A-0
75. '77
75
75
80
4 67
Cah C 51 Co let gu g 63-1921= J •
1)0 Jan '00
105
110 110
Am Spirits Mtg let g
1)9
95
993 Ang'014
9514100
De Bar & 1 Co gu g 68.1910 F-A
103 Nov'Oe
Am Tobacco 40-yr g 6s
1944 A-0 111 7 Sa1t. tit, 112
8
.
/
4
2> 104/1121
1
2
Fla Iron Coal &Colst g 5s 19414 M.
00
983 14914 99
4
.
95 100
1951 F.A
80% sale 80%
6071. 72 74
81
Victor Fuel lots lbs
1953 J -J
87
37 Aug'09
87
8?
Am Thread let cot. tr 444-1919 .1..1
-42 Aug'09
92 i
90% 1/21
/
4
*No price lfriday; latest bid at tl asked. aDtte J an b Due e'en 0 D ue
th Dna altr A. Due J ty kuUe
o Due yet o D ae -"toy q DueDeo a option SAW




518
HON DD.
S. Y. STOCK EXCB A Nr4F.
WEEK ElruNii AUGUST -27
etain co-/(.'onttitueg)
Erie & Pittsgu g3723 B.1941 J
.,1940 J• J
Series C
Gr it& lex 1st gu R47261941 J -J
PtttsFt W& 01st 7s 1912 .7-J
1912 J•J
• 2d7s
h1912 A-0
3d Is
.
Pitts Y& Ash let con 58.1927 31-N
PCC& St Lgu4728A.-11140 A.0
1942 A-0
Series B guar
1942 Id.N
'Series guar
Series D 4s guar
11141,'
19411 F-A
Ganes E 319 guar g
1953 J-'
Series F 43 guar
CI St L & P let con g 53 1932 A-0
Penteteola & All Nee L& Nash
Peo & East dee (.7 (7 C Js St L
1921
Peo & Pek lin let g 68
b1921 -N
2u gold 472s
Os 1921 J -0
?ereltlarq-Cht& W
g es... .....1920 A-0
Flint P
1939 VI- I.
let consoi gold 5s
Pt Huron 'Div 1st g 55 1930 A-0
Sag Tus& Li 1st gu g 43 1931 F-A
Phil B do W See Penn ER
Phila & Reading cons 7s.1911 2• Philippine By let 30-yr 6146'37 J -J
Pitts Qin & St L See Penn Co
Pitts Cleve & Tol See B &0
Pitts Ft W & Ch See Penn Co
Pitts MeKees & V dee N Y
Pitts SI. do I.. E 1st g 58 1940 A-0
1943 J-J
.16t cousol gold 53
Pitts& West dee B &0
1997 J -J
g 4s
1997 J•J
tRegistered
Rea h"
.1951 A 0
Jersey Cent colt g
4s..es H.
D
Rensselaer & liar
Rica & Data dee South By
Rich tik. Meek See Southern
•ItioGr West .See Den & Rio Gr
['loch & Pitts d'ee B R P
Rome Wet& Og dee N Y Cent
Rutland dee N Y Cent
Qag Tus & ii dee Pere Marq
7.-7t Jo & Ur 1st 1st g 4s 1947 J -J
St L & Cairo .See Mob & Ohio
St L & Iron Mount ties M P
St 14 K (J & N dee Wabash
St L NI Br dee RR A el St L
Lome S V-:twig 68 1931 J • J
General gold fis
1931 J -J
192. M-N
Gen 15-2.) yr 5s
St L& S 11' RR Cons g48-'U6 2 • 2
Southw Div 1st g 58 194i A-0
Refunding g 48
1951 J • 2
St LAI &So East gu 44g11701) 2•1,
K C Ft 2e. M coug 63-1925 M-N
KCb'tS&M Ry ref g 4s 1936 AK C& M K& B lstgu 56.1929 A.•
Ozirk els Ch(J1st gu Sc g.11113 A-0
St Louis So See Illinois Cent
St L S W 1st g 4e Lid otfs.192311 4-N
2d g 45 um bond otfa...p1989 J -J
1932 2 -1)
Consul gold 40
Gray's PtTer 1st gu g5a 1947 J-D
St Paul & DM Lice Nor Pacific
St Paul M & Mau 2d es 19011 A-0
1933 J ..1
1st consul gold es
1933 J -J
Registered
Reduced to gold 412s..1933 J -J
1933 J -J
Registered
1910 4-N
Dakota ext gold es
Moot oat 1st gold 48- 1937 J-D
1937 2-D
Registered
•
E Minn Nor Div lat g 461048 A - u
Minn Union Ist g 68.-1922 J • J
11137 J • J
Mont C lat gu g es
1937 J -.1
Registered
1937 J•J
1st guar gold 5,3
Will Jo 6 F 1st gold 5,5 1113.- .1-D
P Ai Nor Pao ties Nor Pao
51P & S'x City NeeC St PM 45u
23 A & A Pass lat gu g 4a...1943 2
8 Fe Pros & Ph 1st g 08...1941. 4-*
S & N P 1st sink f g 58.1011. J J
Say le& West See AU Coast L
Scioto Val & N 9. dee Nor & W
Seaboard Air Line g 48-1950 A.0
1911 .
Coll It refund g 513
0-N
Atl-Birm 30-yrlat g 43.61933 4-S
Car Cent 151 con g 48 1941, J•J
Fla Gee .38 Pen.1st g 03 1918 I -J
let land gr ext. g 58-1930 J -J
Consul gold 5s
1043 J -J
Ga & A.la tty 1st con 5s o1945 J -J
Ga Car & No 1st gu g 58 1021; J -J
192u J -J
deal,& Roe let Sc
Sher Stir & So ties M K & '1
811 Sp Oca & U ties At!Coast L
So Car & 'as ties Southern
Southern Pacific Co
Gold 46((Jeu t Pam coll).k1949 J -D
Registered
141941, 2-1)
20-year cony 4s
S
1111/21,
Cent Pao 1st re/ gu g 43 1941' F-A
Registered
1949 e-A
Mort guar gold 31
/
4
8..k1.929 .1 -1,
Through St L let gu 43'54 A-0
OM Har & S A 1st g es..1919 F -A
Max &
lst g 68....11131 5A-N
Gila V bi &N 1st gu g 53.11124 M-N
Roue K & W '1.' let g 58.1933 M-N
let guar 06 red
1933 M-N
J1 & T0 1st g 5a int gu..1937 J -J
Conaol g ea int guar...1612 A-0
Gen cold 40 int guar..1921 A-0
Waco& iN W illy 1st g 68'39 M-N
A & N W 1stgugOsl94, I • .1

flew York Bond Record-Concluded-Page 4
Price
Friday
August 2?

Week's
Range or
Last Sale

gi

Kano"
Since
January 7

W see,.
Range 07
Las/ Nato

Range
since
lanuars

U

‘

94
74
9372 Sale 934
5
89
88 hale 88
/
4
1001 29
1003 8aie 100
8
18
76
76
754 76
6
105
104.4 1054 105
871 14
/
4
8772sale. 871
/
4
105
105 J'ly'01) ....
983 Sal., 983
9
8
99
8
'2
116
116 116
10139102 10139 Aug'.il.
973 8,t1u 1/71
8
9.3
8 6
/
4
106 106 Aug00
90
6
90
110
10574 Sale 105
105¼ 6.
10672 Sale 106
1004 111
106
10639
99', 1
9939 811
14439 Sale
94
94-4 4
No price Friday; latest tnl and asked taut week. a Due Jan




Prier
kr:dab
AtiguSt 57

x

BIG
AS
bole
Neu Nt Low
Ass Low
litah No Low Rigs ,
hei
. outiteru Pao Co-( Goittenuett,
/
4
92 Apr'07
923
4,
1
Morgan's La & T let 78-1912 AU 11741'20 0421 Aug'08
115
116 Nov'Ut
953 Apr'04
4
92%
let gold es
12 FeliNy
4
A-0
1063 Dec'OS
104,
No of Cal guar g 58
104 Alar01
i 04. 104
12739 Oct'02
107
1 32(8)
99
Ore & Cal let guar g 58 1927 J J 103'-.!
Da /2 Jan '01
014 100-4
107 110 110 May'.9
109 78 li0
ot Ariz 1st gu a 6s.e'li; .1 -.I
So Pac
0472 J'ne'O•
107 Oct '02/
107
-es E tts F 1912 A•0
Pea of Ca.
114'-., 1)'0'04
110 Feb'OS.
I I() 110
1101
/
4
1911 A -II
let gold es
110 .Mav'..,
8.7'1y 'I)
1(377
1077
8
I, 07 Th 1007
let con guar g 58
1937 34.N 112
5
104 A 01'0
108 .Ply 'oft
1077
8
108 109
Pac ofN Mex lst g es 1911 J -J
110 J'ly
92
11272J'ne'05
.232 :4. ..
. 92
31
168
So Pac Coast 1st gu 4814 1931 J -J
102391(1439
100
105 102 1.j J
1./0
99%
00 102
Tex&NOSabDivlst ges 1912 11-S
118 4 Apr '05
954
9439 Apr'09
94
95
Con gold 58
194 J .J 102
125
94%
.J
947
8
934 964
/
1
994
o Pat RH let ref 48
/
4
, 1. 106 1131
112 113 .124 112
1134 116% 114 J'Iy'09
114 116.: southern-lst con g Sc. 1994
.10 .13lay'0,
109 1104
Registered
17794 J J 1011
81.
4
at'-,,
'16
85
A-0 81's
Develop & gee 46 Ser
904
9019
90'4 'soh
854 1104
116 Aug'09
116
116 116
Mob & Ohio colt tr g 48 193D 3I-e
l003 Dec'05
4
.13 1131
/
4
Rem Div 1st g 472-58_199e J -J 110 112 113 Apt
873 91
8
105 105.. 105 J'ly
4
88
80., -97 Angie.
105 106
St L01118 div let g 4s
1951 J • J
,
.08
-J 11%02
1134 112 Aug'0:
.12 11.,
Ala Con it 1st g es
024 Aug09
92'-, 94
107 107 4, Aug .9
9239 9239
1043 1019
4
Atl & Deny let g 43
194 J
9;
1
107 111 107 Ang'09
J .J
237 4 813 92
4
107 1081
/
4
D1 78 86
......
143 Yail 1st g guar 431940 A-0
2
At848
9 8
.09 J'ne'll
1.119 1101
/
4
Col & blreenv let its
1916 2-I 111939
1034
115 12 Mar'0
.11 Jilt-ti.
1013 111
4
T Va & bla Div g58 1930 J •2 110
90
,
93
93 May'01
1104 1102
31.N 1113911419 1439 Ang'ut,
93
95
Con let gold Sc
u7 Apt
105 107
E Ten reor lieu g 53
1932195" 8 106
08 Aug'w•
64
68
68
Ga Mldlan,1 1st 3s
1946 A-0 65
4
1,63 A ug'U
1l4% 117
bla Pao Hy 1st g es
1922 -J 116.4
1181 1184
/
4
Knox & Ohio let g es 1920 J • J .15 118 11814 ,icy.th
Apr'ia
1151
/
4
116 J'Iy'09
116 11639
_two& Bir prior lien g58 1945 J -J 105
115
1137 J'iy 'Di
8
82 •Nov'Oe
Mortgage gold 45
• 11145 J • J
110 %J'iie'u.
108/4 111
11,939
Rich & Dan con g 66.-1915
100 Sale 100
92 J'ile'02.
1004 223 993 101
4
Deb 5s stamped
1927 A- u 109
70 Oct '08
98% 99 1110 May'1/9
91419100
Rich & Meek let g 4s 1948 3.1-14
it7
98
118
08
1.0 961 93'2
.014 1034
/
4
So Car & 61a let g 5e.1911' 41-N
112 'Mt 'Ut.,
Virginia Mid set 0es-111D
108
Plh
Series D 4-3s
1921 .01.09 .Ply
.09 109
Series E 53
1926 'N.6
109 Aug'u.
0)7 1104
General
'41-ti
161)4
1077 10972
4
u
58111ped
"),
1)1
1,0% "3'
W let cy gu43 1 ;1 F -A
W0
11126
334
'
.08 4 Aug1)0
/
4
11/5 4 1001
West N C 1st con g 68-11/14 J J 1064
& N Ala See Lab N
96
1)(3/, 06 Aug'01,
117 J'1.1"uu
92
Spok Falls & Nor 1st g 68.1930 28
97
I 'er A ot St L 1st g 4723 1939 A-0 108 109 108 A71204' .... 10141119
1I 1st eon gold 56....18114-11/44 te•A 115 44 116 116 J'ly " ... 115 117
1.11
08
98
J•J
I 06
93
Gen refund s t g 48
4
11039 rue-u. .... 1104 1104
Bge Ter gu g 56 1953 41-0 1.103
St L
930
Aug'09
8
124 12317
N 0 See So Pao Co
12239124;
4 11'2.,
1101 1104 1101% Aug'09
/
4
1 .123 119
4
110 111
Vex & Pao let gold Os
2000 2-1) l3 114 i 123
65 rue'u: .... 65
1)019 58 88
75
120
Mal
75
90
9019 up
913
4
2d gold ins 5s
io5 Jan 01
,
05 Apr'01/
.034 105
02
91
96;
La Div B L 1st g Os
1.11Il
g2 l J • J 103
ova
1116%1
1004 Aug 09
1001
/
4
.0041111
W Min W&N W Ist gu 03'Ju If A 1u0
.1 • 2 ill 114 Ill J'ly
til 1124
?SOF Si 847 89
891 `30.1e 89
/
4
8
Col & 0 C 1st g Os
993 Apr'u/
4
•.. .12 112
90.4 993 . Western Div let g 53 1035 A.c) 112 113 112 J
4
63
1 9
LoS ,
4 1141 10339 May u, .... .031 105
J
/
4
/
4
1194121.4 1194 Apr'01
bieneral gold 58
116% 12072
113 Aug 0:
I/23 115
4
831
/ 83 4 18 82.4 86
4
834 84
Kan & Al let gu g 4s..... 110 A.()
'
1 3
00 Aug 0. • . 86/ '24
100
.
1
4
943
6
lot P & W 1st gold 48
1017 2-2
901 9139 la)% lig kJ. ••• 894 9139
/
4
in% 88
97% 987 118 Aug'ui.
8
Vol St L& W pr lien g 348 11125 J -J
of0.1
A•u 82
1. 83
884
52'4 82N
50-year gold 43
14.1% Apr've •••• 1113 914
4
947 95
4
95 Aug')
924 90
for Hain & Butt Ist g 40.4195" J
12)41'
tuts
0,8
07 1084
81
79
35
941 84 Aug62
lster& Del let con g Sc 1025 2-I)
4
Nov 0'81
230
75'
78
78% Sale 784
1st refund g 48
811
4
1952 A.0
8
97
11)3% 6. 102 1043
101 7 Apr'04
4
UnPauRltdl 1 gr g 4s- 1941 J • J '10339 salt 1u3
104',, J'ly
WU% 103
Registered
g112,u11204787 .1-J 102 4
8J'ne'09
4-5
1007
1163 100
1/54Sal, 9134
4
1st & ref 4s
100%104
J-2 112% wile 1124 111.139 102. .02 1241
13072 133 132 Ang'0:131 132%
/
4
20-yr cony 48
98
984
.32 13.
984 sate
.1 98
99 7
8
132% 132 Apt'09
ore By & Nay con g 48 12146
1183
4 1.19
109 111
.08
108 1083 108
It. 1,8121204
8
Ore Short Line 1st g es 1922 F-A 118%
4
114
1074
1083 J'ne'ut.
108% 1053
I 114 118
1st consul g 58
4
114'8 111
1946 J -J
D
102 10219 i0239 Ang'ull
94', 5b 94
1)4
/
4
04% sate
961
Guar t•etunit 48
/
41(33
1021
11121. J •
4 Lou%
04 Jan 'o..
1004101 1003
94
994 101
Registered
94
11129 ID
1004 Oct '01,
11113
8Aug'01,
4
Uteii& Nor gold 58 11126 2 • J 1063
1193910039
99
1014 J'ly'09
Unt J
&(jC° dee Pa It it
112
124 Alay406;
Utah Central ties Rio Ur Wee
1304 Aug'1./8. :
1304
tali & Ziortli ties Un Paonit
1361 mi.,
/
4
Utica dl Black tt ties 24 Y Cent
115 Aug 09
1144
audalia consol g 4s
1)8 Nov'Or
.1955 F -A
115
116 J'ne'ui,
98 Sep'06
era Cruz &Plat gu 47231934 J
Ver Val Ind tib W ties Ito k'
Virginia Mitt See South By
893
4
89% 893, 893
8
89
110 . '01'
J ly
110 1174
923 Va & southw't 1st gu 53.2003 2-I 109
8
1104112% ill it, J'ne'eu
07
118
Da t. Augur
1184 100
1111
/
4113
let cons 50-year Os
11/58 A- u
102 .106 110 Out '05
113 Sale
.3
. / 4 /11.81144
1
4
t, abash' 1st gold 56
1939
939
-A
F
.024105
.
2d gold Os
V
102 39 .u439Aug °,
t
0/0 41004
hoJati '01
Debenture series A
103t, J • J
9 39
.
J -J
851
/
4
907 31 631 91
4
86 101
90
LOU Jut .riy'01.1
/
4
US
104/ May'uu
at/2410272
/
4
lq
1
4
10039102¼ 1001 11,0
0 115 4100%
let lienoi uip a Id g 58 1921 el-6
5739
57
85
88 Jan '1).
let lien 50 yr g term 48 1904 •1
4
75
1311 713 804
235 J '13"023
034
75% Sale
11156 J-J
let ref and ext g 43
1104
108 1114
107 74 Aug'06
100
bet & eh Kitt let g 56-11.141 2-2 101)4
vl J'uti'u.
563 1)11
8
80
/
4
Des Motu Div 1st g 4s 11131) 2-2
78 J'Iy'ut,
1(104 Alar'05
75
75'a 54
80
1941
Oni Div let g 3128
11139 May'uo
135
110
110
914
102 4 1061
107 106 J ine't/11
/
4
Tot & (Jh lily 1st g 4s 11/41 .41.s
45
. 46.
42
554
.4Aug'u.
.05 106
109 tub 4 Mann,
Web Pitts Term 1st g 4e loot 2•D
45
48 • 4. 41% 55%
45 Sale
106
1013.4 1073
Trust co certhi
10739 J'ne'Uti
4
812 Sale
7%
51 La.
/
4
7
1472
1904
zu gold 48
Warren dee Del Lao & West
Wash Cent ties Nor Pee
Wash 0& 1V dee Southern
90 4 J ng:0t,
72 Aue 0i
'
92
924 98%
9319 14 90
924 931 924
/
4
951 Wash Terml let gu 34s-1945 F -.A
/
4
1
et Lit
,
85% 41 82% 88
55
9,8 West Maryland 1st g4s 1902 0 85 4 Sale
4
933 Aug01
4
86
A-0
01
1027 Sale 1021 105 LP 4291; 97 42 107
8
/
4
Oen & cony g 4s
731
/
4
102 J ly '0,
102 102
97%
8
1952 2-14
1111
/
4
071 3u 067 0878
W Va Cent P lat g
97
14
96
1173 West
4
& Pa 1st g 58-11)3 I 3•2 113 114 1 33'4
963 110 J'Iy'OJ
4
110 117
A-0
112
65 14 J'iy
.
'
894 594 894 J'ly '1)/
57
05%
8114 934
Ueu gold 4s
uv
8J'ly '01)
9419 043
937 95
4
Income 58
10174 Apr
i0.41014 West Nu Car See South , 1111944:1
Ry
1
/
4
109% 1114 Apr't..
110 112
Wueerg & L E 1st g Os...1926 A-0 1071 107'4 105 Peb'09
107 109
85 J'/Y
104 Mar'00
104 104
Wheel Div bet gold Os..11128 1-2 104 .
10412
it.h)tu Dec
103 10539
Exteu & Imp gold 0.3...1930 F -A
.044 108 1004 May'01.
4-S
217
8?',, bri Ang'u.
t0339 lir '11i:
1.03 is DM 4
1047
8
BR 1st consul 4s........1941)
99 1.,e0-0b
99
95
8
101/3 Aug'00i01)% 1101
,
10/4
20-year equip 8 1 Os..1922 J • J
10139 N ov'07
Wilkes & East ties Erie
109
95 JAI'OD
95
116
Wil Is Sioux P dee St P Mdl lit
t16'
95% Sale
1)57
4
95
116 1.18 116 Dec'06
W is Cent 10-yr let gee 4s 1940 J.2
8
21' 894 967
113, 93.4 113,
4
u
/
4
107 72Jan 09 .... 1117 4 1071
93% to 9244 96
Sup& Din div& term 1st As'36 M-N
,ItjtA,ELLANUOUN

Induatrini
Olttouleclurimi
Armour& Co 1st realest418'39 J-1)
/
4
Beth Stew. let est 81. Os..i'16 -.1
Cent Leather 20-year g 0:1.1925 A-0
Distal Sec Cor cony let g 58.'27 A-0
Int Paper Co let con g 68 1918 F
1935 J -J
Consol cony s I g 6s
tat St Pump 1U-yr cony. its '13 2
1923 A-0
LSO taw bteel 1st g Us
X x Air Brake 1st cony its'28 M-N
Repub I& S 1st& coltr 58.1934 A.0
Union Bag & P let st 5s 1931. J-J
Us Leath co a hien gtis 1913
US Realty & cony deb g 58'24 J-2
S Rubber 10-yr coil tr es.'ID J -D
U 15 Steel Corp-1 coup .a19113 4-N
;St 10-60 yr 5a.I reg ..a19.15 31 N.
Y
tt-Car Chem 1st 10-yr Os 1923 J -0
weatinzliouse 1)1 & AL8 75s '31 1-2

,
BON 0

Y. STOCK EXCH A Ni4
Wkreg ENtaxr2 AuGUsT 27

N.

iVoL

ilr+-4,011(311111041.

Miscellaneous
964 A.(larns Ex col It g 48
11148 M.S
(/0
teerrylio istcons g 5s'48 P- A
964 101
A.0
Bush Terminal let 48.
73 4 781
,
Consol us
11155 J•J
101 106', Clue J13.31, t Yard col g 5s 121-, J • 2
85
S'12 Det 11 & 14 Mgr incomes 1011 A.0
100 105
institution for Irrig Was
93
911 , & I). vet of Agrioul
7
108 1161
/
4
1043 Nf-N
4398 (ctis)
102
lot Meroau Marine 472s 11)22 A.0
1/ 1 3 98
4
tut Navigation Isle I 56 1929 F -A
(143906
Newp No ship &
D5351990 J •J
844 91% N Y Dock 50-yr let g 46 1951
1024 106
Providence see deb 48
1057 .41.14
1021 108
/
4
Provident Loan Soo 4723 1921 31-S
10139 1(18't, St Joseph Stk Yda let44s 1930 2-J
933 1011
4
8 Yuba Wet co con g 63 1023 J • 2
004 051 418 Had & Ref letete 68 11/31 J.J
/
4
0 Due n'et.) 4 Dee Apr s Due May g brie.'
'us
93

'I7

923 923 Ang'09
4
4
41 Oct
90 1.0%
944 95
95'a J'ly 'oil
100 Jan /
1/8.
4
47 Apr'1./8
951
/ 95 , 10 92% 954
4
,
08
69
7; 61)
77
85 J'17'09
84% 854
116 A ua'Ot‘
95
943
4
OP. 954 Ii 1/1
954
87% 110 Jan '60
110
110
05 J'ly'09
WI
95
1004 Deo 05
...... ••••••
112 J'ly'04
•••• ...... 98
t/1 72 14 69
91 4sale
a Dim .11,7 p Due Nov.
801:410A WWI •
081sale
/
4

GITTO A GO STOrIK FIVITTNTI:9-Stock 13mcord-Thi1y. Weekly and Yearly

•

MUCK ,-HICHIRS7 AND LOW ENT SAL.. PIJOBs
.
, u my
s;
z

1Ul,171
ng
,
1

1 UrJEL:
A wi 2
7

th ,
II i24 MA,
; 11

d tio
irl atir

: ill
if g
u

Sates
ths
Week
Shares

S
KS
CHICAGO STOCK
EXCHANGE

Range sines
Jan. 1 1909
Lowest

/malt ior Previous 1 exi
(19J8)

Highest

.r,owezt

Railroads
-_
Last Sale 180 Apr'09
Chicago City fly
100 180 Meh 8 190 Feb
- 721.2. -- - -' 2 -;
ii
'21
7
i- 71
'ir2 -- - -;;212 :i
Last Sate 214 July'09 -__ Chl o go er Oak Park_100
8
ir pr&
214 J'ly 21
4 Jan 22
*10
12
*10
12
*10
12
*10
12
Last Sale 10
July'09
100
9
15
22
•108 112 *108 112 *105 110
110 110 *108 110 *108
-iii Chtc Rys part ctf "1%- 107 Jan 21 11912 Jan 2b
110
J'ne 4
*3714 38
*3714 38
*3714 38
*3714 38
3734 373 *37
20 Chic Rys part ctf -2"--- 36 J'ne23 4534 J'ly
4
38
Jan
*24
25 *24
25 *24
25
*24
25
Last Sale 2412 Aug'09 ---- Chic Rys part ett "3"...- 2412 Aug 17
30
*912 10
*912 10
*912 10
*912 10
Last Salt 912 July'09
Chic Rys par'. ctf "4".._ _
9 May 3 13'2 Jan
1912 1912 *1912 20
1978 1978 1912 1912 *1913 20
*1912 20
-:Ii . Chicago Subway
100 16 J'iy 21 2914 Jan 2
*47
49
*47
49
*47
49
*47
49
*48
50
4812 48 4
3
130 Kans City Ry & Lt 100 36 Feb 24 52
J'ly 7
*81
82
*81
82
*81
82
82 82
82 82 ' 8110 8112
60
Do pref
100 79
*1518 18
*1513 18
*154 18 *154 18
Last Sale 1734 -Aug'09 -ioi Megoppr W S Elev 100 1512 Jan S 8612 Mayls
.
)
o olef
Augll 19 Mch 8
.19
50
*40
50
*49
50
*49
50 *49
50 49
Aug'09
100 47 Jan 14
',Hi
20
*19
20
*19
20
*19
20
Last Sale 20
Aug'09 .. Northwestern Elev.-100 20 Augll 64 J'ne
.....
..
25 May 6
*68
73) *68
70
*68
70
*68
70
Last Sale 70
Aug'09
Do pref
100 63
is 73 May 7
*55
56
*55
56
56
*35
*65
56
56
*55
56
56
5 South Side Elevated_1,
10 50 Jar. 26 61 May /
4438 4412 4438 4438 4414 4438 4412 4434 44
4538 44
4412 1,280 Streets W Stable C L_100 2914 Apr 13 5134 J'111.10
10313 10312 *102 10238 *102 1023 *102 10238 ........
8
__
_1
Do pref
100 97 Feb 15 10712 J'fle18
AI iscellaneous
1212 1212 1234 127
125 13
8 12 4 13
8
3
1212 1212 1218 1212 1.
485 American Can
100
8312 8334 84
84
8334 8334 8312 83 4 83
3
83
8212 83
648
Do prat
100
208 ___ *208 ____ *208 ____ *208 __
Last Sale 210 Aug'09
Amerlain Radiator100
130 135 *130 135 *130 135 *130 135
132 132 *130
135
a'i Do pref
100
*65
6610 *63
66
*63
66
66 66
*63
66
10 Amer Shipbuilding. 100
*63
65
108 110
110 110 *108 110
109 109
__ ___ 110
110
3a
Do nrer
100
14013 14014 140 1404 *140 14012 *140 14012
139
900 Amer Telep & Teleg____
139
- - ------ --- --- ---- ---June:09 - -.- Booth (A) & Co
Last Sale 13
100
Do pref
100
"ii-ii8 Igi "hi" ii" "ill 12" "2312 •Ii" 25111 re 34 23 ung2
s
j
1
19
Bogtn Fist
bertes cons
55
554 5434 5614 56
59
58
694 60 6112 so 61
4
-1
o pre
*54
55
*54
55
*54
55
*54
55
Aug'09
Last Sale 55
Cal & Chic 0.-nal &D10,1
*1
us *1
118 *1
118 *1
118
Last Sale 1
July'09 _ ...: Chic Brew'g & Malt'g
*2
*2
3
3
*2
3
*2
3
Last Sale 218
July'09
1)o pref
*30
31
3114 32
33
34
33
33 4 3012 32
3
3134 313
4
61-1 Chic Pneumatic Tool_100
13512 136 *13512 136
13512 13512 *13512 130
13512 13512 ---- ---15 Chicago Telephone_100
Do rights
WI al
-*145" Cif" iii" iii" *ii5" fif" *138 1We 214 MV1T8 ---6 Chic Title & Trust___100
1
481
42
12073 1207 *121 12112 121 121
8
1211
21 121
521 Commonw'th- Edison_ 100
2434 2434 ---- --500 Corn Prod Ref Co Com_ _ _
233 2334 2312 2312
Last Sale 8812 May'09
Do
Pref_ _
129; 1'10 8 *iiiir2 116"
- 5D oo d c a p h
100
*4934 50 50 5012 12912 5278 52171 116" *1291, 130 130 130 ;411;[ilifrlsnBrilslk teo
. 5012
53
5112- 52
51
5112
100
*43
45
*43
45
*43
45
*43
45
June'09 ---- Masonic Temple
Last Sale 44
---- ------ ------ --- ____ ..,...
Last sak 218 Junc:07 ---- Maw & Chic Brewing
Sate
Do pre
iii- iiir4 iiii14 iii iiif 455
l
"
"i- Last
«o6
100
.125 126 *125 126" *125 126 *125 Iii 10 4 125t *125 120 "D5 National Biscuit
126
125
15
Do pref
100
96
9612 95
9613 *96 8 9612 *95
3
97
95
95
*95
245 National Carbon
07
100
119 120 *119 120
119 119 *119 120 *118 120 *118
120
5
Do pref
100
11613 117
11613 11678 11712 118
11614 11614 116 1163
245 PeoplersGasL&Coke 100
3
_-- --_
Do rights
1 4 164
0
.
- . iii51- fili" i5:114 16414 ii5i54 i6:15- lo
4
2
8 f
l
77729 Sears-Roebuck com_ _100
11512 116 *114 11512 11512 115 4 115 115 *115 116
3
114
353
114
Do pref
100
11013 11014 110 11012, 11014 1107 11018 1103 10934 11018 10978 11014 2,172 Swlft 46
8
8
Co
Feb
Do rights
fir *141a"
"-IL The Quake- Oats Co _ _109
1 11gle 7146
100
•102 103
102 10234 *102 103
103 103 *10213 103
10234 103
206
Do pref_,..,
100
---- --- ------ ------__
Apr'09 __......... Unit Box Bd & P Co_100
Last Sale 112
Last Sate 3
Apr'09
Do Full paid.
"ii" li" 15E8 Tif "ii" "ii" ;1512 1112 *1334 1414 734 APag "I4o Dopref pad.,, 100
s
,
. 90
14
Do Fu11
3,90
91
*20
21
*211
21
20
90
90
.911
21
39 W'-ternto
cn,100

41,41

12938Hiu.

-

1 0
tak,"11,804"11 9

,iii- fir *iii- fee,- *iii- 153) *141

7 8 Jan 30
7
7134 Jan 6
200 Jan 11
1234 Jan 21
5418 A nr 21
101 Feb 24
139 Aug 7
13 J'nel0
14 May22
10 '03,24
48 J'ne Id
5114 Jan 4
1 Apr 2/
213 Apr 27
20 Melt24
127 Jan 4

1418 May2i
83 J'no 4
210 Aug 1
132 J'ly 21
0134 Aug 7
110
14253 Aug12
1 JL...
5 Jan 5
27 Aug'Ai
6112 Aug 26
5.4 Ain 16
1 Apr 21
213 Anr !!
34 Aug 24
136 Aug19

117 Jan 1.4 161 Ply //
107 Jail 21 32112 J'ly 1
174 Feb 25 2513 Aug 3
7014 Mch 25 881? May19
117 Jan 9 13034 Aug 13
38 Jan 26 53 Aug26
43 Jan 5 45 Feb
2012 Apr 27
9718 Jan 2
11814 Feb 15
82 Jan 14
110 Jan 15
102 Jr.it 5
12 Feb 25
55 Jan 5
101 Jan b
10012
• 9
ts Feb 5
119 Jan 5
Jan 2
981
53 Feb 19
214 Feb 26
334 Mch 1U
1012 Nieli
Feb15
18

21 J'ne 28
109 .'an
127 rly 20
99 Aug 13
120 Apr
11973 Aug16
1 5i,.11 I.
10414 Aug z4
11633 Aug111
11414 Aug 6
20 Jan is
152 J'ly 28
10312 Aug 12
158 Mch2e
313 Mch
912 Jan 4
1633 J'ne
-

.1'Whest

160 Jan
153 Feb
(i12Dec

155 Dec
313 Aul
10 Atli
54 4111
3
119 Not
88 Oct
47 i Ill
20 Nu,
28 Deo
934 Sep
1312 Dec
)5 Feb
3013 Dec
4734 Not
Oct
68 Sep
8612 Not
1214 Nov
19 .lan
42 Jan
54 Nia:
1334 Au2
22 Dec
46 An, 6212 Dec
.12 Aug
71 Jan
2612 Apr
34 Not
85 Apr 104 J'n3

4 Feb
4112 Jan
125 Jan
116 Apr
37 Atei
91 Jan
/ Dec
8
3 Dec

10 3 Noi
3
767 Dee
8
DX) Dee
12814 Not
63 Not
104 Not
JO
100

Jan
Mal

40 vet)
ti/i4 Dad
1 Oct
1L8 Aul
2 Nov
4 Apr
3012 Aug
20 Dec
106 Jan 153 Sep
234 Feb
4
3 Feb
100 Jan 116 Deo
80 Jan 110 Oct
113 Jan
30 Jan
38 J

13/ Aull
4212 Dec
46 J'ly

19 J'ne
70 Jan
1013 Jan
4
51 Mch
91 Mch
8012 Jan

20
97
120
87
115
106

J'13;
Dec
Aug
Dec
Not
Dec

24 Jan
72 Jan
8812 Jan

56 Dei
l
102 Dec
10534 Sep

1144 Jan
87 Jan
14 J'ly

134 Jan
100 J'ly
13 Jan
3

112 J'ly

12 Jan
17

A

111

Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Aug. 27

Interest
Period

Price
Friday
Aug. 27

Week's
Range or
Last Salo

Chiclgo Banks and Trust Oompinies
ll'ds
Sold

Range
far
Year 1909

NAME

Outstandlag
Stock
1

Surplus
and
Profits
t

Dividend Record
In
1907

In Per- Last Paid
1908 tett
I
Bid
Ask Low
High No. Low High
s Bankers' National__ $2,000,000 $1,284,770
Amer Strawb'd 1st 65_1911 P - A
8
8
Q-M June '09, 2
_ 100 Mch'07 ..._
Calumet National
_.
100,000
36,276
Armour & Co 4 %s___1939 J - D - - 8
6
6
An. Dec '08,6
9312 ;le 9312
9312
2 - 1 10- Chicago City
93 2
8
500,000
196,740 10
Aurora Eigin6:Chic 5s 1941 A - 0
10
J-J July '09,5
____
s Commercial National_ 3,000,000 4,344,640 12
Cal & So Chic Hy Co
12
Q-J July '09,3
Continental National
a4,000,000 3,952,849
8
1st M 5s
8
Q-J July '09. 2
1927 F - ----------102 J'ne'09 __ 102 10212 Cook
Co State Savings.. _
50,000
6,279
6
Cass Av 46 F G (St L)5s '12 .I - j
6
Q-M July '09, 113
_
10114 Fels'09 ____ 101 10114 Corn Exchange National 3,000,000
5,189,968 12
12
Chic Board of Trade 451927 J - D -------- 100 May'07
Q-J July '09, 3
__
Drexel State
200,1
37,24.
6
6
Chicago City fly 5s
A-0 Apr '09, 21.
1927 F - A :10314 Bale 10314 10314 16 1031- 1
4.
Drovers' Dep National_
600,000
413,275
8
Chic Consol Br & Mit 6s___ J - J ___- -___ 103 Apr'04 ____05
93 Q-J July '09, 211
_ Englewood State
200,000
33,900
6
6
Q-J July '09, 11
Chic Consol Trac 4 Ms 1939 .7 - 0 --- --- 50 Apr'09 __
50 60
First National
8,000,000 8,227,368 12
12 Q-M Pne30 09,4
Chic Auditoriumlst 551929 1 - A ---- ----9634 Jan'06 ____
.
0
_
____ ____
Englewood...
150,000
10 Q-M J'ne 30'09211
Chic Dock Co 1st 4s...1929 A - 0 -_-_ ____ ____
_ ____ ____ ____ First Nat Bros B'k'g Co.. 1,000,000 165,042 10
Foreman
555,098 Priv ate Ba nk
Chic Jc RR 1st Mg 63.1945 M- S ---- ____
____ ____
___
____ ____ Fort Dearborn National
1,000,000
436,965
8
8
Q-J July '09,2
Chic No Shore Elec 65.1912 A - 0
87 Feb'06
,_.. Hamilton National_ ___
500,000
160,567
5
5
J-J July '09, 21
Chic Poe Tool 1st 5s_a1921 J - J 7912 80
7912
7912
6 72 - 4 Hibernian B'k'g Ass'n__ 1,500,000
793806,641
8
8
Q-J July '09, 2
Chic fly 58
1927 F - A 110114 Bale 10111 1013
8
6 100 8 1023 Kaspar State Bank____
7
,4
200,000
118,250 10
10
J-J July '09, 5
Chic Rys 4-55 series "A" A - 0 9513 Bale 9512
9512
2
9312 9614 Live Stock Exch'ge Nat 1,250,000
396,836 __ 10+2 Q-M J'ne30'09,21.
Chic Rys 4-5s series "B" S - D 86
87
8613 Aug'09 ....._
8434 8912 Monroe National
300,000
63,178
4
4
Q-1
'Aug 1 '09, 1
,
Chic Rys 4-5s series "C" P - A 91
92
8914 J'ne'09 __
89
91
8
8
Q-J July '09, 2
Chic Rys coil Os.....1913 P - A 10112 ___ 10112 Aug'09 ____ 10113 10233 Nat Bank of Republic_ 2,000,000 1.164,839
National City
1,500,000
520,474---- _3
Chic Rys Fund 6s-1913 F - A 10114 -_ 10112 July'09 ____ 10112 10233 National Produce
Q-J July '09, 11
250,000
66,685 -___ ........July '09, 1
July
Chic fly's'rem Ctfs 1st 5s
110114 Sale 10114 10114 10
200,000
67,729
Chic R I & P RR 4s__2002 51- N ---- 6612 Aug'08 ____ 101 10212 North Avenue State.....
2%
- July '09, 114
_
North Side State
50,000
12,102
8
Collat trust g 5s___1913 M8
Q-J July '09, 111
- --- 6612 July'08 ____ 101 1013 North West State Savs
..
4
-200,000
9,102 ____
Chic Telephone 5s____1923 J - D 11027 10338 1031 1 Aug'09 ....... 10234
______ July '09, 11
S---8
:
10334 Prairie National
250,000
72,664
Commonw-Edison 55_1943 - t- S 1021 103
10212 102 3
,
4
500,000
45,546
8
Chic Edison deb 65_1913 J - J ---- ----100 Jne'08 _ . 101 10314 Prairie State
8 Q-M June '09, 11
Railway Exchange
250,000
6,141
4
1st g 58____July 1926 A -0 l.01
2 -___ Jan '08,2
Bae 101
101
4
- 1 1603 - 4
300,000
146,102 ___- _
Debenture 5s____1926 11 - 6 - --------10038 Aug'09 -___ 1004 1613 Security
July '09, 111
10213 South Chicago Savings_
200,000
78,176
6
Commonw Elect 5501043
a - - July '09, 111
Ci:J
S 102 1023
0234 1O34
5 10234 10353 State Bank of Chicago
y1,000,000 1.414,754 9+1
Illinois Tunnel 5s____1028 J - D
11
Q-J July '09,3
.....80 Dee'08 __
.
Stock Yards Sayings
250,000
179,358
6
Kan City fly & Light
7
J-D J'ne30'09,2
Union Bank of Chicago_
200,000
8
6 1.1-N May '09,3
Co 55
1913 '11 - N --- ---- 983 J'ne'09 ___
4
98 8834 (JnionStock Yards State 200,000 92,726 6
65,624
Knick'is'iter Ice 1st 55.1928 A - 0 __. 96 Mch'09 ____
6
Q-J July '09. 114
95
90
American Trust & Says_ 3,000,000 2,709,594
8
Lake St El-lst 55_1928 J - J:__ 8
Q-J July '09,2
96
90 July'09 ......
73
91
Central Trust Co of Iii... 2,000,000
794,826
Income 58
7
7
Q-J July '09.13,
1925 Feb
---- --- 16 May'05
_ ____ Chicago Say 13k & Tr_
n500,000
80,508 -___
Mar W Side El
13 Q-J July '09. Di
Chicago Title & Trust
5,000,000 r1,208,619
6
1st 48
6 Q-J July '09, IV
1938 P - A 8312 8412 84
84
WV Citizens Trust & Savings
13
:
83
50,000
8,453
3
Extension g• 4s
4
A-0 Apr '09,2
1938 J - J 8134 ---- 837 J'ne'09 ..._
8
8212 8414 Colonial Trust & Savings
600,000
500,471 10
8+2 Q-.7 JulT 09 21
North West El 1st 45..1911 XI Sale
'. 1
9512
95 4
3
4
9214 9613 Drovers Trust & Savings
200,000
98.370
6
7% Q-J July '09. 2
No W G-L & Coke Co 55'28 Q - Al 95.12...„ 28 Aug'09 - 98
S„„..
0512a'..
.
99
Farwell Trust Co
1,500,000
218,081 ____
____ Q-J July '09. 111e
Ogden Gas 5s
1945 II - N 1/0,2 Sale
.!
93
2
97
98
First Trust & Sayinigs
2,000,000 2.665,234
Pearsons-Taft 58
Q-M July '09. 4
1915 .1 - D 100 ____ 10038 Me11'09 __ 10014 1001: Guarantee Trust
& Say_
200,000
7,409 Intel ,rated 1908 V.87.14.1133
4.408
IA - S 9634 ____ 97 Meh'09 ____
9634 98
Harris Trust & Savings_ 1,250,000 1,051,962 ___
6
Q-.1 July '09, 211
4.608 Series E
VI N 98 ____ 98 J'ne'09 ___
98
997 Illinois Trust & Savings 5,000,000 8,386,842 16+4 16+4
3
q Aug20'09,1
4.80s Series F
gg
51. N
__ 100 Mch'09 _ .... 100 10013 Kenwood Trust&Saws_
200,000
44,669
8
6
Q-J July '09, 13,
Peo Gas L&C 1st 65_1943 A - 0 t ___ 122
-1213 May'09 .._ 120 122
4
LakeView Trust&Saygs
200,000
34,889
434 Q-J July '09. 114
2
Refunding g 5s____1947 NI - S 10313 10312 10314 Aug'03 __ 103 104
Merchants' Loan & TrCo 3,000,000 4,983,232 12
12
Q-J July '09,3
Chic Gas L&C 1st 551937 J - J 104
Bale 104
104
1 104 105
Metropolitan Trust&Sav
750,000
239,385
6
6
Q-J J'ne '09. 111
Consum Gas 1st 55_1936 .1 .D 110214 .
. 10214 July'09 ____ 102 1023, Northern Trust Co
1,500,000 2,138,833
8
8
Q-J July '09, 2
Mut'l Fuel Gas 1st5s1947 NI - N 1102 10214 102 Aug'09 __ 10112 102
North-Western Tr&Sav.
200,000
51,656
6
6
J-J July '09,3
outh Side Elev 4351924 .1 - 3 941,
9413
9412
5
9412 96
200,0(x)
3 People's
98,577
6
6 Q-J July '09.2
swift & Co 1st g 55.-1914 3 - J t1003 10112 10118 Aug'09 ..... 10012 102 4 Pullman Trust & Savgs_
4
500,00
Trust & Saws_
177,743 k8
8
Q-.1 July '09,2
Union El (Loop) 5s...1945 A - 0
05 J'ne'09 ____
92
96
Sheridan Tr 6: Say Bank
200,000
20,000 Beg. b us.J'ly 12'0 9 V.89,p.141
Union Pacific cony 45_1911 M - N -------- 114 Nov'04..._ Stockmen's Trust & Say
200,000
26,363
5
5
J-J July '09, 21(
t_
United Box Board col 65'26
16 80 Aug'09
161: Union Trust Co
.76 1,000,000 1,188,514 .._
8 Q401 rne30'09,2
General mtge (Is
J - 3 813 Sale 8'
.
8)
1
7014 81
Western Trust&Savings 1,000,000
204,973
6
6
Q-.1 July '09, 131
Western Stone Co 55_1909 A - 0 __
8512 July'08 ___ .._ ..... West Side Tr&SavElank
200,000
59,329 Began btusIne se Be p16 1903
Woodlawn Tr&SayBank
200,1 4 1
Nnta -A "1 1•11/1,1 tntoreat Mitat lin n ail prl to all Chicairn
35,920
,
6
8 Q-J July '09, 111
h mid nr1rte/i.
Iliu au . aske.) prie.:.. Lu sac.were t11.1.lie on tills day. I June 23 (close
of ou5Ine.;5) for batiouat &mak., ana Jun • 24 topeaing 01 business) io: Stati
nstitut'on3
No price Friday: latest price this week. a Dud Dec. 31. 5 Due
I
k Also stock dividend 34, 33 1-3%. n Capital and surplus to
be increased.
• DivItiends are pal0 Q-J, with extra payments t)
-F. r
barged under none of Commercial Nation7.1; V.89, p. 16 140. y Capital As of date Deo. 31 1008. s Bankers and Commercial National banks to be
Increased to 81,500.000. V.88. p.,1477.




m-

YearlyBOSTON STOCK EXCHANGE-Stock Record, Daily, Weekly and
SHARE PRICES-NO2 PER CENTUM PRICES
Saturday
Aug.21

Tuesday
24
A

Monday
Aug.23

Wednesday
Aug.25

Thursday
Aug 26

Friday
Aug 27

Sales
of the
Week
Shares

STOCKS
• BOSTON STOCK
EXCHANGE

17a;:ge since Jan. 1
1909.
Lowest

ufPest

Ilanoe for P-ericrus Y cal
(1908)
Lowest

Rtgke3f

Railroads
6758 Feb 10114 Dec
98 Jan 13 12034 Aug L.
7
8212 Met 10414 Dee
11634 117 8 11718 11718 . 720 Atch Top & Santa Fe_100 100 4 Jaz'. 15 106 .1 lie t
8
3
11814 11814 11913 11918 11933 1193 118 11838
Elevatedpref
Last Sale 105 Aug'09100 225 Jan 4 23914 Apr 8 1811$ Jan '230 Dec
100
*10412 10512 *10453 10558 *10414 10514 *10412 10512 232 232
Albany
y
23218 23218 -ia
Apr 22 1211. Dec 140 Jan
23134 23112 23112 23112 232
*23112 --- 23112
100 12414 Jar. 7 13218
lba n
os o
3"
190 11° lgn
12812 12838 12812 *_ _ _ _ 12812
100 224 Jan 12 235 Mchlu 20014 Feb 228 Dec
12812 12812 12812 12812 12812 12812 12712 228 *___ 228 *228
____
2 Boston & Lowell
228
....
*___ 228 4.___ 228 1 -- 228
100 13212 'an 2 150 J'ne 15 114 Oct 140 Jan
_16_ Boston & Maine
145
145
148 148 *147 148 4145 147
145 145
145 145
100 151 Feb 26 160 Apr 3 130 Feb 156 Jan
Do pref
Last Sale 152 . July'09
Jan
201 Nov
& Providence_100 297 Apr 26 301 Jan 9 284 Mc)
Boston
Last Sale 300 Aug'09
7::
,
13 Mel)
9
22 Feb 3
:::: *iiii" --__::
*Yog"
1134 Jan '2
___ 1,i0. Boston Suburban El Cos_
___
- 0
18
*16
18 18
58 Noi
18 18
45 Jan
18
Feb
1712 1712 1712 -)$012 Jan 5
Do pref
141
72
72
71
71
812 Nov
71
17 Jan
__ *70
1
'
*70
70
15
52 A e h 12
70
10 May10 7412 Mvr 21
Wor Elm Cos
Boston&
Aug'09
Last Sale 12
6012 Jan
471. Dec
_
4... _ 13 *_ . 13 *__ 13 4....__ 13
52 Jan 5
--io
54
15114 Deo
"
53 *_.. 53 4..... 53 *__ _ _ 54 4---53
*...- 54
lco pre1Ry & USY_100 143 :an 25 162 J'ne23 126 Jan
Chp Ju nc
Last Sal( 159 Aug'09
12012 Dec
---- -- -----102 Jan
100 116 Mehlt)
-i8o
---- ---- --- --- ---- ---- ____ __-_ 117 117
Dec 165 Act
\e
,
3 k e li
3 3 ''Y C
: .1llb 5
n&
- r09 ___ CoDo Mont. Class 4_ _100 170 Jar. 2(3 :0 Mch 25 103 Sep 138 .2 nr
Last Sale 170 Jul--- ---- ---- -13314
12
142
Last Sale 13912 June'09 ---_ Conn & Pass RIv pref_100 139 Jan '2 275 Mch Ill 244 Jan
283 Dec
100 '2(87 Jan 15
Last Sale 270 June'09 -__ Connecticut Rlver
133 Nov
117 Jan
100 129 J'ly 29
9 FItchburc, pref
134 *2 133
311- -2
- 2
86 Dec
67 Apr
*Hi- 111112 *151" fiii; lir 1311- 151r2 194 *13112 95
100 75 Jan 6 9434 J'ne 16
-8 Ga Ry 40 Electri3
---- *93
*9312
85 Dec
93 *9312 95
,
1 1 Oct
93
94
88 J'ne21
*93
100 79 Jan 14
Do pref
10
__
__88 *___ 88
88
193 Nov 193 Nov
*__ 87 *__ 87
.1an 1
*.___ 87
100 19514 Ja2. 13 19514
Last Sale 1951; Jan'09 - Maine Central
1334 -Not
814 Jan
100 1114 Jan 12 16 Aug2
Mass Electric Cos
2,342
15
15
15
- 15
64 2.0‘
-1
.- IT
"
40 Jan
-ii Ti" iiiiii ii ' 6
100 5312 Jan 17 7514 Aug 16
Do pref
259
74
74
75
7412 7412 *74
74
161 No
74
74
128 Jan
74
*7312 75
894 N Y N H & Hartford_100 157 Jan 21 17978 .1 ne II
169
170 17012 169
171
145 Apr
171 17114 17034
140 Jilt:
170 17112 170 171
100 146 Feb 4
- Northern N H
. Last Sale 149 Aug'09 Apr :1)5 Feb
A
10
21834 N1ct t 1:
Norwich (50 Wor pref _100 200 Apr 13 249 A ug 19 200 Jan
,
---- ---- ---- -Last Sal 200 Aprll'09 -19618 Dec
4 1 j,ne 5
10') 194 Jan 5 20( 18 Jan '8 175
Colony
iiiii *____ 200 *_--- 200
34 Dec
"5 Jan
-_- _
4_- _ - 266" ___ 206- iiio" iiiii - ioo"
100 26 Apr 27
202 Rutland prof--1 OldB
35
35
85 Dec
70 Feb
100 11014 Mch 2 1171. Aug 16
191Seattle Electric
-4
-12
4 116 - 1161- 11614
- . -- 18833 Jan 102 Dec
"
*:::: ifi iii- Or 11.612 116 2 11612 11612 1161. 10612 10614 10614
100 9712 Apr 6 10612 Aug 4
Do pref
47
_-- 10614 10614 10614
8
11012 Mch 1855 Nov
*10534 ____*10614 __ _- *10534 2095 20514 20712 . 11978 2021
100 x17278 Feb 20
1
-15 Union Pacific
1
97./8 NON
20878 - 8
7834 Apr
20612 21-0
Ap
1 7714. ut 6
20712 209
100 9312 NIch 2 )15 ,g 17
Do pref
...6,
8 rm Au _
7-------------26
4
4
3
8
161 Nov
150 Jan
410918 11018 108 10914 *1087 1097 1063 1063 410178 102
___ Vermont & Mass _100 105 Jan 20
Last Sale
9112 Sep
76 Jan
50 88 Jan 2 1/818 Apr 23
26 West End St
-_
*96
97
lii" *96
i10 Dec
96 Jan
"
"iii "tic -68" ii" ioi" Vi- "iii" 107
50 103 J'ne25 1)2 Apr 27
Do pref
23
106 106 *10612 ____
10634 10634 106
May19 138 Jly 140 Men
*106 107 *106 107
145 July'09 --_ Worc Nash & Roch 100 144 Mch12 140
Last Sale
--- --- --- --Miscellaneous
25 Nov
12
13 Jan
4812 8,561 Amer Agricul Chem 100 3314 Jan 2 5014 Aug
5
49 8 4814 4912 48
4 49
493
96 Nov
77 Mch
'
4612 4612 4714 47
1178 s
46
100 04 Jan 18 105 J y2
Do pref
436
103
8
1033 10312 103 10312 103
12 Dec
104 104
103 104
4 Feb
Feb .3
53 Jan 26
*103 104
50
838 2,103 Amer Pneu Service_
814
814 812
812
23 Dec
8
5
8 3 85s
912 Feb
22 J'ne 14
812 834
50 13 Jan 12
4
812 83
Do met
777
3
3
2012 19 4 19 4
43758 Nov
2012 *20
2012 20
4
AApr
2012 203 *20
9914 Jan
21
20
Amer Sugar Relln_100 12112 J'ne22
542
4
4
12912 13014 1293 1303
13012 131
106 Feb 132 Nov
131 131 *131 132
131 131
100 120 J'ne26
Do pref
257
127
126
126 127
127 127
13212 Nov
4
1263 127
99 Jan
127 127
4
1 : 1512
11:13 Aug4
*126 127
140
13834 13914 5,848 Amer Telep & Teleg 100 ,12514 Feb 1 4018 Aug 27
3
8
3
3238 Dec
16 Jan
3
13934 140 8 140 14038 14014 1403 139 4 140 3 13834 373
100
b 4
u 15
393 American Wooten- _100 63271122
4018
4 38
3734
38
9612 Nov
38
39
7734 Feb
39
*38
7 '
8 A ng 1
10 1, J ue13
3f34 *38
*38
Jan
Do pret
1,301
10512 10512 106
412 Dec
3 Jan
10434 10434 10412 10514 105 10512 10518 10512 10514 Sale , 43 Aug'09 ____ Boston Land
10
334 Apr 1
14
Last
44
7
*714 712 *714 712
16)2 Jan 128 IN OV
J'ly 29
*714 712 *714 712 14212 14212 143 143 *14318 144
27 Comb Telep & Teleg_100 125 Jan 25 1451i fi 010
2114 Dec
4
143 Jan
ly 9
_-7
13
461: l
*14212
*143 144
1812 Jan 11
15 Dominion Iron & Steel__
838 Nov
4534 *4412 4514 4512 4512
414 Mch
4
*4434 ___- *443 -4-512 *4434 4512 *45
7 Jan 4
375 East Boston Land
1012 1012 103
4 1034
Nov
*1012 1034 *1012 11
*1012 11
11
11
0 145
10 25038 Jan 24 260 Apr 7 101 Mch '253 Deo
2
rn
246 Edlson Eleo
25334
25212 25212 252
253 255
253 254
173 Aug 7 111 Jan 162
*252 253
*252 253
Feb
Ilu*168
301 General Electric
16612
16512 16612 165
167 167
49 Mel) 60 Dec
169
*167 ___ *16834 16912
5 6712 Apr 12
00 3
9
692 MassachusettsGasCos 100 5 Jan 5 97 Apr 2:;
65
6514 65
65
65
110 Nov
6534 6534 65
77 Jan
6514 6514 65 65
Do pref
428
9034 9034 *9014 9114
9034 91
3
Feb 17 192 Apr 215 Nov
3
9112 9112 9034 90 4 *907 91
38 Mergenthaler Lino_100 10212 Mch12 '..:20 Mc1129
21334 *21214 21334
3 Oct
4
1 Mch
3
*212 21214 212 21214 *____ 21214 *__- 2133 *212
10
2 Jan 5
234
82 Mexican Telephone
212 *2
212
78 Nov
40 Mch
212 212 *212 234
J'ne 1i
258 *212 3
*2
95
53 N E Cotton Yarn___ _100 68 Apr 24 OS
96 *94
94
95
93 Deo
95
*9412 95
75 Mob
95
*94 ____ *9412
100 93 Jan 2
Do pref
31
10712
10712 107 107 *107
105 Jan 128 Nov
106 106 *106 107 *10612 107 *107
100 12614 Jan 5
257 N E Telephone
.._
1_36
136
79 Deo
u
n
137 137 *136 137 *136 137
1
18
10 1 A :
1:: Au : 5112 J'ne
: . e 1;3
137 137
..100 75 Feb 6 :1 ; AJj, K 22
137 137
39 Pacific Coast Power,.
10018 10018 :,____ 10018 *____ 100
Aug 7 147 Jan 17412 Nov
*160 10018 10012 10012
100 108 Jan 30 199
aiBi
____
195 195 *115K
1012 Nov
9 Apr
197 19712 197 192
197 197
19534 196
Hole
034 Jan 11
Ruece
P elinl Button-Hole,.,. 10
18
90
,- 1112 1112 „,
10812 J'ly
8812 Jan
- *11 _ __ *11
*11
*11
100 100 Jan 9
1
-.
.
s 1..0: .
1103 ..9_34 1:16q
5
24 Oct
11014
20 Jan
25 Aug 13
- 12
-- 2
110 1161- 110 f16 11014 11058 *24 110 8 10978 2412
2
8 To ilngton.
816 Swrr e4 Co Class A_ 25 2012 May21: aii : 23 May
25
2412
2(312 Dec
25
25
4A
14 j ug I
25
*24
25
*24
25 1.414 Jan 29
Do pu p
ii7
. i truipu Cret
2712 ,
pr 6
Aug 12
114 Mch
2(2 Jan
*2612 2712 *2612 2712 2612 2612 *2612 2712 *2612 Sale 13144-7-3-4Aul-f7159.34
1 Jan 26
L'd & M'g_ 25
Last
11412 Jan 148 J'ly
100 12612Jan 13
United Fruit
150
*148
8Nov
623
'4812 Jan
25 x54 Mehl')
iiii- 14i- iiii2 all-2 1.48- 141" iio- iiii- 64
Shoe Mach Corp
6418 6334 641 1,620 Un
6418 6418
20 Nov
65
2473 Jan
0
4 65
5 4
3;
6418 6418 6434 643
25 2812 Jan 11 17°2 2 Mch 13
Do pref
257
3012 303
3
4 30 4
3012 *30
5834 Nov
8 4 Aug 12
2(1 Jan
3018 3018 3012 3012 3018 3012 30
100 4134 Feb 24
74
7512 24,221 U S Steel Corp
76
74
8712 Jan 114 Nov
8 7558 7712 7658 7814 7578 7714 124 125
7534 765
100 107 Feb 23 12958 Aug 3
12412 125
912 Nov
12458 125
4 Fob
*12478 12514 125 125
1234 May 5
618 Jan 11
Prep
0
10
551 West Teiet & Teleg_ ,.100
1112
1112 1133 1133 ;D.
1112 *11
*11
8014 Dec
12
fi9 Jan
12 *11
*11
100 78 Mch 3 90 J'ly 15
Do prat
25
*89
89
9012
89
91
9012 *89
9012 *89
*8912 9012 *89
Mining
.
1214 Aug
112 Feb
1012 May28
6 J'ly 14
25
7
335 Adventure Con
8
7
67
7
12
7
*7
7
7
4112 Nov
24 Apr
7 12 712
: u 2
81
2 A
7
7
25 34 Jan 29 :7 Att12
445 Allouez
4612 4612
4712 4612 4612
47
46
46
8218 Nov
96
45 Feb
*45
45
45
65 Feb 26
8412 18,996 Amalgamated Copper 100
8512 8258 8412 83
8
J'ne
2034 Jan
3 8412 8531 847 8558 84
4
8478 853
0
3
8 AIe h 2
2
2
25 3 18 Feb 27 323 Aug 3
3014 1,345 Am Zinc Lead 40 Sm
3034 30
3
3034 30 4 30
53 Nov
28 Feb
bibs J'ne 4
8 3034 31
4 3012 307
3014 303
4
..
4 4
. .
1_
. 765 . ._ _04 _ 3 2 100 Anaconda
2
.
4 .34
4053 Dec
45_ . . 70_4
_
14 Jan
4834 483
22 4614 May 8
4 --,
25 30 Feb
42
,680 Arizona Commercial
3
43
.90 Aug
3
.40 Feb
43 2
I Feb 17
4312 4312 -4234 --1
25 45 Feb 17
July'09 ____ Arnold
4
Las! Sal( 3
*12 1
1012 Nov
*12 1
8 Apr
*12 1
*12 1
8 J'ly 16
25
776 Atlantic
1018 1012
1012 1034
11
11
11
11
11
Al ny 2
11
1
.83 jaa 7 .25 Oct .75 Nov
11
11
650 Bonanza (Dev Co),.,. 10 .45 Feb 16
1818 Nov
1014 Apr
.59 *.50 .65 4.50 .65
.50 .50 .50
1714 May 8
*.50 .65
3
15
-- - 1.745 BostonCon C&G (rcts) 11 10 4 Mehl5 2258Jan 2
1518
26 Nov
1518 15
15
15
1114 Apr
1518 15
1514 1514 15
5 1718 J'ly 14
3
3
30 Aug
2034 20 8 20 4 3,695 Bos&CorbCop&S11Mg
2012 2()
3
1512 Jan
4 1934 19 4 20
23 May 8
1934 193
24
4
3
19 4 193
15 2138 Feb
2512 3,944 Butte Coalition
8
f)3 Feb 130 Aug
2.818 257 • 2514 2512 25
Jan
3 2518 253s 2514 26
2514 253
10 9114 May 3
224 Calumet & Arizona
10512
Alch 700 Jan
105 106 *105 10512 *105
13
104 10512 106 107
105 105
25 583 Feb 26 695 Aug 14 065 Feb
10 Calumet & Heels
080
680
3634 Nov
685 685
21
2
g 24
680 680 *680 090
83571344
110
685 685
680 685
25 20 Feb 1
3,050 Centennial
36 4.-- 37
3712 36
.25 Arch .45 J'ne
4 37
3614 373
35
35
34
34
1 .10 J'ne26
__ Cons Mercur Gold
Aug'09_
8378 Nov
5518 Feb
Last Sale .25
.24 *____ .24
*____ .24 ),____ .24
Con Co 100 6312 Feb 26
8114 8178 1,708 Copper Range
1178 Nov
82
8112 82
7 Jan
82
41 Aa 15
4
8214 813 8214 8212 83
82
712 May28 .35 .l:1119
20
10 Daly-West
83 Dec
4
10 Dec
812
812 *8
8
103 Apr 20
9
8
*
*8
8
8
*812 9
9
712 Feb 1
9
1112 1112 2,107 East Butte Cop Min_ 10
09 Mel]
8 1112 1112
3
2 4 Nov
8 1112 1112 1112 1134 1112 115
1178 117
138 Aug 6
12
20 Elm a River
612 Apr
1912 Nov
3 *112 178 ____ .._
4 *112 17
Na i 5
132 138 *112 13
12 Aug 8
19 jt ny13
173
*112
25 13 Feb 25
970 Franklin
16
16
16
1612 1614 1614 16
1612 1612 16
17
17
738 J'ne 16 1014 Aug 2
Giroux Consolidated_ 5
10
2,350
978 1018 10
10
/1Y
/ 10 J
e0 Jan
4
1018 1018 1018 10
10
0
1 1712 Jan 9
973 10
100
67 Jan
65 Granby Consolldated-100 00 Feb 26 . Jan '2
100
100 100
1318 Aug
101 101
101 101
1234
100 100 0100 102
9 Feb 26
20
912 2.872 Greene Cananea
912
02 912
912 912
4
912 93
3
4 94
93
912.18( 29 1214 J'ne 10
4
3
9 4 93
Hancock Consolidated 25
190
3
3
9 4 9 4 ___-__
7
98
3
97 *--,1014
10
10
10
6 J'ly 21
25
7 6,760 Helvetia Copper
3
64
718 718
1734 Feb
714
712
21314 Jan
7
7
714 714
718 712
4
3 A ug it
918 Feb lo
2714 2714
27
605 Isle Royale (Copper)_ 25 2218 Apr 27 33
2712 2712 27
2712 2712 28
2714 2712 27
712 Apr 30
5
Lake
3
8 4 3,030 Kerr
3
812
5
83 8 4
10 Sep
7
2414 Dee
' 812 8 3
E12 81
8
30 39 Aug 18
853 87
8
25 16 Jan
3
8 4 87
3214 17,717 Lake Copper
3
1214 Jan
20
16
1714 Jan
J'lymF
371e 3418 363.1 3112 3412 29 4 3212 31
3714 36
37
25 1034 J'ly' 10 .115063144 Feb 16
14
14
170 La Salle Copper
15
15
214 Mch
838 Aug
1414 1414 1438 143 *1412 15
15
*14
414 Mch Is 1814
25
714 712
2
12 1,090 Mass Consol
7
12
714 714
7
712 712
.25 Jan
.75 J'ly
712 712
8
8 73
75
13
0 A 19
25 .33 A pr 26
Mayflower
Last Sale .70 Aug'09
312 Dec
8 Jan
4.50 .60 4.50 .60 *.50 .60 *.50 .60
4
43
iiE Mexico Cons M & S- 10
4
43 "
5
5
1512 Dec
4
4 43.: *434 5
5
43
83 Sep
1714 Aug 5
518 • __
5
3
1558 1578 1534 15 4 1,575 Miami Copper
714 Feb
8 1578 16
1512 Nov
1314 Mch 4
1618 1614 1612 mt., 1614 163
5,11ch tw k
510hagan
812
8
3
8 4 84
3
45 Feb
3
73 Nov
8 4 84
812 834
834 83:1
858 912
255 37 ;
25 x182314 AF 111b 121896
2
*62
g
Y
____
62
6
26
854
.2:7 Dec
6112 6212 62
63
las Jan
62 *61
62
.40 Apr 6
62
62
,
Last Sal .35 Aug'09_ Montana Consol C & C 10 .19 Feb 11 2 18 j ug 18
20 4 Nov
3
3
° a
75 8 A n 2
8 s Jan
*.30 .35 •,.30 .35 *230 .35 4.30 .35
5 1612 Feb 26
0
8 2378 2414 2334 2334 2333 2373 4,861 Nevada Consolidated_ 5 1014 Aug 17 8113 j'1!22
a
1534 J
2378 2418 2414 2458 2414 243
1014 1014
920 Nipissing Mines
4034 Feb
8 1014 1012 1014 1012 1014 1012 1014 1012
1038 103
3
89 4 NOV
6114 35,996 North Butte
8
8 597 6114 60
5912 615
4
573 5913 5914 61
/
4
583 59
714 A.1 16 1178 Aug 9
1
9
914 10,185 North Lake($8 paid)- 25 4482 '11 1322
3
98
9
3
918 9 4
6 .50 Jan
912 1014
J'ly
8 10
1013 103
3
103
25 .40 J'ne'll .75 Aug 11
Old
,
Aug'09
Last Sal .75
____
28 Jan
6012 Dec
4.60
-- *.60_ 4.60
*.60
25 4714 Feb 24 59 Aug LI
-ao
3
1,0 o Dominion
5614 5614 55 4 56
57
57 57
77 Feb 13512 Deo
67
50
5612 5634 *56 6
49 Aue
25 122 Feb 26 13 14 j ng
176 Osceola
147
145 195 *145
1012 Jan
3118 Dec
147 147
146 146
*145
-- 145 146
32
2,400 Parrott (Silver & Cop) 10 20 Feb 1
4 32
323
8 32
4
333
77 Feb 100 Aug
4 33
323 - 4 33
3312 3312 333
4 33125 85 Feb 1 69 Jan 8
90
0
9
91
90
93
153 Apr
90
338 Nov
93
90
*90
93 *91
278 Jan
*91
23_
2 Feb 25
*218
guinc Fe
2
2
5g0 Santa y (Gold & Cop) 10
238
04 Feb
218 214 *2
*218 238 *213 238
Jan
1914 Nov
10 1312 Feb 26
153
4 1534 1,270 Shannon
1534 16
16
16
3612 Nov
3 16 . 16
14 Apr
1578 16
1534 157
25 34 Jan 5
58
3.091 Superior
5914 58
*58
6012 5914 60
58
5712 5712 5712 58
4 1512 1512 1,170 Superior&Boston Min 10 14 Mch24
1512 1538 1533 1512 153
2013 Nov
1418 Oct
1514 1512 1512 151., 15
3 16
1618 2,268 Superior&PItts Copp_ 10 1278 Apr 27
163
8 16
3
1638 1612 163 164 1612 1612 1633 163
'!'
88 Nov
56 Itch
alul 2
1
:9
25 02 J'ly 16 6088718222 Feb' :Y 2Ili
Aug'09 -__ Tamarack
_
Last Sale 63
70 *67
70
*68
*67
70
70
28 Aug
*67
1218 Feb
1788 Jan 23
25 1012 J'ne21
1212 1242
Trinity
13
245
1212 1234 1212
1234 13
12
1234 13
1612 Nov
12
453 Mch
J'ne 22 1614 Jan 2
*1014 11
*1012 11
20 United Copper
_
1012 1012 *1012 11
___
9 Mch
3034 Nov
38 Aug 12
814
165
35
335
8 3 3 1,030 United StatesCoal&011 26 28 Jan 12 5718 Aug 12
43
3514
- 353 353
.812 1E3
-8
4678 NOV
28 Arch
4 3534 3534 -3514 -- 4 34
4
U S Smelt Ref & Min_ 50 39 Feb 26 5312 Aug13
4 5418 5512 38,431
5334 5312 54
5312 5434 5418 543
47 Nov
5312 53
87 Feb
53
50 44 Jan 8
Do pret
51
52
2,617
5114 52
52
52
5178 52
52
52
7 Nov
52
438 Sep
51
624 „p311 21.
414 Aug 17
5
43
4 43
4615 Utah-Apex Miffing
412 458
4 434 *412 4;
43
4
60 Aug
434 43
2912 Jan
5 3714 Feb 24 4812 Aug 11
Utah Consolidated
4412
- -ii
4412 46
.
919
45
45
45
45
4514 45
4412 45
287 May 53 Nov
8
26 54 Aug 12
10 8934 Feb
392 Utah Copper Co
5112 5112 5112 6112 5012 5012
5112 5112 5114 5114 *5112 ____
358 Jan 6
25
,
4
4
25 Vtcto na
250 wlu uria
412
6
412 *4
6
412 *4
*4
4
613
4
414
*6
41
-'
f3 •
*4
'1 71°07.1
6
4 ja n
212‘ r
u
p
6
l I'
:
ga L719
612 02
434 Apr 30
25
6
6
*6
612
'5 139 Mehl* 158 Aug 12 115)2 Jan
30 Wolverine
--__
%
11071
)
Ia (
154 154 *154 158 *155 158 *155
154 154
154
*153
4 Jan It,
214 Apr 23
25
320 W yandot
253
258
258 253 *212 278
'212 258
234 234
*258 278
Ex-rights. a Ex-clIv. and rights.
r.,, ca.,ea in .409. • fs.d and asked prices. d New stock. e Ass't paid. a Ex stock dlv. 7
C 1-'.3,ok ... pay t or agses.

*298
*298 7::*ioi"

idi- -al;




--

"i8"

Boston Bond Record

AUG. 28 1909.
110A It.
BOSTON STOCK F.Xe FUG I.
ENDINci AMAMI'27
Wkitic

Price
Fridau
August 27

1
Am Toler,&Tel eon tr 48.1921 J -J
M-8
Convertible 4s.....
Paver 1st 8158 e 1919 J • J
Am
Am Writ
Ariz Corn Cop let cony Os 1018 M.S
&ten Top & S Fe gen it 48..1995 A-0
I'ly 1995 Nov
Adjustment g 46.....
Ply 19:11 M-N
Stamped
1915 J-D
50-year cony 45
1917 J
10-year cony Os
Atl Gulf & W !SS Lines 58.',.11 J
Boston Elect 1,001180) 014 1924 Ni-S
1916 J • J
Boston & Lowell 48
1944 3.3
Boston & Maine 4 428
Boston Terminal 1st 345 1947 F -A
191). J
Bur ab Mo My ex 6s
191r J -J
Non-exempt Us
1910 J -J
Sinking fund 45
Butte & Boston 1st 68.-11117 A.0
Codex Rap & Mo II 1st 76 1910 M-N
1909 J-D
2d 78
Cent Vermt lat g 4s..M ay192u /
4
14.
O B & Q Iowa Div let 66 1019 A-0
1910 A-0
Iowa Div 1st 4a
di) M-N
Debenture Os
1922 F -A
Denver Exten 46
1927 M-N
Nebraska Exten 48
1921 M.
B&SWat 48
1041.
Illinois Div 34a
Joint bonds See (It Northern
Ohio Jo Ity& Slit Yde 5s.1915 .1.3
Coll trust refunding g 481941/ A-0
Oh Mil & St P Dub D 08..1020 J -J
Oh M & St P Wie V dm 68192)) J J
Ohio & No Mien lat gu 53.1931 M-N
Ohio & W Mich gen 6s....11/21 .1-13
Concord & Mont cons 45..1020 J
Conn & Pass It let g 4s...1114.• A-0
.02, A.0
Current Itivor 1st Os
Det Or hap & W 181 4s 11140 A-0
Dominion Coal 1st sf 58 1040
1915 M-13
Fite:11,1;mq 48
192',
45
Fremt Elk & Mo V lst 08 1933 A-0
103a A-0
Unstampen 1st 68
Gt Nor C1 B &Q eon tr 46 1921 -2
1921
Registered 46

J -J

Week's
Range or
Last Sale

'et

;
zr1
A.,

Ass 1,ow
_High
Bid
934 Rale
93.4
933 3.
4
l04' 4,
10314 Sale 1113
83 MeV() •
. 1.3 Aug'01) --•.
.
4
/
0 14 .
i- 10F 107)4 1001 tu04, 2
4
/
041 92% rne'09
1.3
1)4',, 93 J'ly'09
93
110 J'ly'09 •
12014 Aug'09
117
'1
3b
70 Sale 10
110 Feb.04
1004 Mar'09
104 44
'Ot
1124Jan '03 •
104 Oct'07
102 Sep '05
14914 Jan'09
100 J'ne'01
117 J'ite108
Ill's J'ly'05
894,
894 90
8914
11103 Oct '0'2
99% Jily '01#
100 Apr'118
0912J'fiellb
192 May'09
4
e
977 983 Feb'011
:MN Ply '16.1
10214 10214
94 Ply '01.
4
1181 Feb'09
120 FelP015
1024 Aug'01,
1021
4
/
4
/
11141 105 106 Ply'oe
91 Dee'07
1124 Jan '03
40 Feb'09
4
/
901J'ly'09
90
4
/
961
064
10.1ta Apt'00
96 Apr'0,133 Mar'09
140 Aur'05
971 Sale 973
On
4
/
a
4J'ly'09
1.77

Range
Since
January 1
tow _High
4
911 904
924 106%
83
83
130 190
4
/
100 1011
4
923 94%
94 12
93
[0219116
4
/
10711.204
73
59
4
1.(101 10014

094 99l

13014

81

99% 100¼
9914100
Jul 4 102
.0
98% 9 e
904 92
IN 104
04
91
118141184

1024 Sale

101
102

102%
106'4

96
96
8
7
924
964 97'
,33 133
0'

974 99
4
/
8
973 981

521

BOND.
BOSTON STOCK EXCFPGE
WEEK ENDINn AUGUST 27

Price
,
1 rid ah
August 27

Ranpe
Since
January Z

Week's
Range or
Last Sale

Low iii it.
limb
Ass tow
But
4
.
L001 4 1003
1004 Aug'te
1919 J
Illinois Steel deben 58
81011u
12 .001
101
101
Non-convert deben 56. 1913 A-0
117 Apr'0;
la Falls&Sioux Cast 78 11117 A-0
964
00
,
96
1. 114
Kan 0Olin & Spr 1st 58 192: A-0 94
90
1004 101
101 Ply'00
Kan C Ft .8 &Gull ext 58 1911 3-1)
12 11614 1204
4
/
Kan C Ft Scott db At 0s
4
1928 M-N 1191 Sale 1171 117'/
93
:41
113 Atig'01,
o3
Kan C M & B gen 48
1934 M-S
4
/
861 91
91 Ang'01,
91
1034 8)-S
Assented income Is
10314104
,
104 J'nellt
Kan C & M Hy db Br 1st 581920
105
113% Nov100
Maine Cent cons 1st 7s 1912 A-0
1011 Sep '11)•
1912 A-0
CODA 1st 48
4
115 J'ne'Or
Maro Hough & Ont tat 66 1025 A-0
084 100
99'. 33
11.99
Mass Gas 41214 (recta)
994 sale 90
84% 86
86 Mar'09
Mexican Central cons 4s 1011 J-J
110 Apr'Or
Jan 1939 .1'ly
1st cons Inc 3s
4
1;15 1 Apr't/
Jan 1939
1.41 cons rue .48
1917 J. J
Mush Teleplet Os
1024 Ane'04
Minna Gen Elec eon g 5s 1929 J -J
4
/
4
/ 1:: 1021 104%
1929
4 1041
1041
New Eng Cot Yarn Os
102 102
109 Feb'th
1915 A-0
New Rug Teleph Os
1910 A-0
4
/
1001Sep 'Or
Os
New England cons g 5e 1945 J -J
1939 A-0
Boston Term 1st 4s
£0819 Aug'00
978.10519
4
/
NYNH& H con deb 3181956 J..1
2
:34 1381
,
194 J -J
.
1.381 Ang'01.
Cony deb Us (Otis)
101 101
101 Apr qe.
1924 F -A
Old Colony gold 4s
......
',LW 4 J'ly qtr.
ores Ry db Nav con g 4s. 194e J-D
118% 34.lai'0.
6
t18%1101
1922 F-A
oreg Sh Line 1st g Us
105 Deo'Or
Repub Valley 1st a f 68 1919 J -J
10712 No,'01.,
Rutland 1st con gen 448 1941 J-J
102 Mat'02
Rutland-Canadian 1st 481949 J•J
9814 May'Oti
Savannah Elec let cons 56 1952 J -J
4
1
4
/
1.115/ 1061
100 Aug'OL
1930 F-A
Seattle Eleo 1st g 58
97 Apr'0",
'A:erre Haute Klee e La. 1929 .14
1 102 102
102
1918 M-S 102 Sale 102
l'orriugton 1st g Os
4
4
/
1021 1031
102% Apr'09
Union Pao RR & 1 gr g 48 1941 J • J
4
/
ilk% 1101
1927 I- J
11019 J'ne'09
20-year cony 48
96'. 11 95% 97
96%
Unden Fruit gen 8 1 4 48 1923 J-J
120 155
150 Aug ON
M-N
U S Coal ce, 011 1st 8 f 68 1938
2 (4)214 1081
L05% 105
,
4
/
If S Steel Corp 10-60 yr 56 1963 M-14
IMO 41004
1004 Apr'014
West End Street ity 48. 1915 F•A
1004 10214
4
1013 J'ue'u
1914 M-S
Gold 412a
,
99 4 WO%
4
993 J'ly'0.,
1910 M•N
Goba deoenture 4s
100 ke 10034
10014 Apr'01.
1917 F-A
Gold 48
6 oti 10012
99'.
4
991
Western Teleph & Tel 56 1932 3.3
4
/
I/3% 951
95 1S Apr.0$.
Wisconsin Cent 1st gen 481949 J -J

Bonds. " No prie,o eriday latest Ind and asked.
,NoTic-Buyer pays accrued interest In addition to the purchase price for all Boston

F at price.

Philadelphia and. Baltimore Stock Exchanges-Stock Record, Daily, Weekly, Yearly
Price8-1,ot l'er Cenium Prices
Saturday
August 21

20
*18
*3812
4
/
*131 14
4
403
*40
4
/
4131 4014
43;
43
*1214 12;
61
61
,,
22% '221
*074 68
*12% 13¼
274 28;
1171411714
844 5419
4
4
*703 710
48
48
11% 12
4
/
301 204
794 80316
'2
7
4
/
541 54%
4
893 89%

mow,a,,
August 23

1 ueso
August 24

ecoiesdat,
August 25

itursdau
August 26

19.8
Sales
ACTIVE S'IVC1
of the
Week (I'S? Bonds and Inactive
Friday
Stocks see below)
August 27 Shares

40
•35
4
/
2
/
.871 881
*104 105
105.s
4
/
.104:1051
4
/
*1712 181
20
'17 12
*18
20
*18
20
.18
88¼
*37
39
39
*37
39
2
*381 394
13
13%
13
13% 13; 13% 13%
13'9 14
*384 90
.
403 *4012 41
*40
40% *40
4
403 40%
4
403 46%
40',, 46% 46%
"40
43
4
/
,, 434 441 43
433
, 43% 44,
93
4
/
*1214 12; 't214. 1214 *1214 12% *121 1214
0(1',,
4
4
003 603 .011
61
61
61
01
4
•.:2 12 22% 2.:1 2212 22 14 2214
22% 22%
4
/
691 6812 08'-,
4
683 69% 69
084 1)814
4
/
134 13',, *12% 131 "12% 134
8
.127 13%
4
/
28',, 277 28% 271 27%
s 28
284 '.87
,
1/0 119 , 11941194 117 117
118 119
r.5 12 561 81% 80
8412 854
4
/
s
844 857
4,70L5,
114 094 70
,
4
/
701 70% 01.0.1 3 70.
70
484 4/5. 4.,19 474 47:
48
5
,48
12 4
12
4
/
11% 1214
121 1914
124 11!4
30
110
4
2914 39
4
/
304 301 21/3 3114
4
7919 503
754 701,
e
7113ie rru% 804 131'is
.6a4 6,,
.4
4 0.
61
4 7
03
7
7
4
536, 533
4
4
533 544 53,, 533
544 5414
1394 90
904
90; 89
110
13919 90

PHILADELPHIA
Inactive :mucus
Allegheny Val prof....51.
50
American Cement
100
Amer Pipe Mfg
Bell Telephone (Pa) 106
nO
(Umbria Iron
Central Coal & Coke.100
Oonsol Trao of N J...100
Diamond State Steel 10
1(1
Preferred
Easton Con Electric 5 5(3
Eleo Storage Butt....100
100
Preferred
100
Ft Wayne &W V
51)
Germantown l'as8
Indianapolis St
100
Indiana Union Tr.. 100
Insurance Co of N A..10
Inter Sru Pow & Chem.50
Keystone Telephone ..5U
50
Preferred
KeystoneWatchCase.100
10
Lit Brothers
50
Little Schuylkill
& Schuyl H 51)
N Haven Iron & Stee1.5
So
Northern Central
North Pennsylvania 50
50
Pennsylvania Salt
Pennsylvania r"teel..100
111(1
Preferred
Phlla Co(Pitts) pref...50
German& Norrie 50
Phil
50
Phila Traction
10
Railways General
Steel..5
Susqueii Iron &
10
Tidewater Steel
10
Preferred
Tonopah Mining of Nevl
100
Union Tr of Ind
United NJ RR db 0 100
Unit Trao Pitts prof .54.'
Warwick Iron& Steel.10
West Jersey & Sea:311.50
Westmoreland Coal .50
Wilkes Gas & Elec 100

Bid

39

48IC

40

1120',. 12/4
84

130% 01
125
22', 2212
,
13 ,
13
4
421
10
61

62

105 1001
4
4
/
1001
111
L164
44% 40',
4
901 MY%
.
014 10

.,
63
252

6%
263

4 111
4
/
4
5,
57
4
/
981
70

*Bid and asked; no sales on this day.




Ililitiniore
Con.Gas El. L.& Pow
Do pref
Northern Central
Seaboard(new)
Do 26 prof
435 United By & Electric

_Range Since
Jan 1 19J9
Lowest

100 30 Mar t
100 76 Marld
IOU Jan 4
4
100 113 Feb25
100 '22% Feb24
50 9% Feb 12

Bond%
.Prices are all "and
interest."
Al Val N, ext 78 1910 A-0
Alt &LVEleo 4 4s'33.F-A
Am Rya cony 58 1911..L.1)
Atl City 1st Os g'19.M-N
Berg& El3rw let 68'213 -J
Betide Steel Os 11198.44.F
Choc& Me 1st 5819493
Ch Ok & gen 58'19 J•J
Col St By 1st con 5s 1932
Con Trac of NJ let 513.'33
E &A 1st H Os 1920 31-N
Sloe & Peo Tr stk tr etre
Eq II tias-b let g 551925
Indianapolis By 48.1933
Interstate 48 1943 ..F-A
Lehigh Nay 412a '14-Q•J
1014.C14
Rite 4s g
Gen DI 448 g 1924.1.44
Leh V C 1st 55 g
Leh V ext 481st 1948.J-11
31-s
20 76 1910
J•D
Conaol 65 1023
JD
Annuity 63
Gen cons 4s 2003.31-N
Leh V 'I'ran con 46'35J-li
New Con Gas Os 1948 J-D
Newark Pass con Is 1930
NY Ph& Nolst48'39 J-J
Income 48 1930-21-N
NoOluoTraoconiis'19.J.J
Var
Penn gen Us 1910
Var
Cowed Os 1919
Penn & MO Steel con 68.
Pa & NY Can 58'39.A.0
A-0
Con 48 1039
Penn Steel let 56'17 3.1-N
People's Tr tr carts 46'43
P(Joist& col tr 53'49 M•S
Con& cot tr Os 1951514-4
Pun Etee gold trust am
Trust certifs 45
P & 111 gen 31 6 g'20.A.0
(Ien M. 45 g 1920. A&O

Bid

Ask

.3
867 8714
100
1164 117
11'2' 113
1034 100
4
1053
1094
934
143
.....
Si

62

103'.,
1051 107
4
/
110
107
121
4
/
1491 160
974
97
4
/
681
08
1084
1001
4
/
101% 1)12',
11014

0714 98
1004 102%
07¼
1024 102%
4
713 76
101)

PHILADELPHIA
Ph & Read 2d 58'33.A-0
J-D
Con M. 78 11111
Ex Imp Id 485'47 A-0
Terminal 56 g1.041 Q.F
P W & B col tr 4s'21 3-.11
Portland By 1st Os 1030.
Hoch Itydb Leon 08'5434
.
Spanish-Am Ir 13s '27 .14
U Trao Ind gen 58'19.J4
Un Rye Tr ate 48'49J&J
United Rya Inv 1st cella
3.1-N
a f Oa 1920
U Trao Pit gen 58'97 J..1
Welsbach sISs 1930.J-D
Wlks-B(i&Econ58'55J4
BALTIMORE
Inactive Stocks
Ala cons Coal& Iton.100
Prof
Atlanta & Charlotte...1001
Allan Coast!.,(Conn)100
100
Canton Co
Cons Cot Duck Corp 5ti
50
Preferred
Georgia Sou & Fla. .100
100
1st pref
100
2d pref
100
G-B-S Brewing
buds
Prices are alt"and
into est."
Anacostia & Pot 58
03
4
/
Atl & Cb. ext 41 '10..14
Atlau C L RE46195231-S
Atl Coast L(Ct)ctfe 55J-D
CBs of indebt 48-.34
J4
5-20 yr 4s 1025
Bait(Wass 1st 56'11 M-N
Bait Fundg 58.1916 31-N
Exchange 3128 1930.1•3
Balt & P 1st 08m1'11 A-0
26'53F-A
BSP&O 1et44
Salt Trio let63-'29 2.1-N
No Bait Div Os 1942 J-D
Cent'l ay con5s1932 11-N
Ext& Imp 5a.1932 51.8

Bid

Ask

.....
105
102
119 120
4
/
991 LOO
09 12 101
104 105
95
4
/
791 8U
854 8514
/
851
102

320 3:35
90
95
4
/
61
21', 21%
20
90
04
50
75
2
3

103 103¼
100
115¼ 96
106 109
83
80
54
US
101 1 0119
107 108
98% 094
102 1034
94
93
110 111¼
113 114
1013 110
4
1 1 1 1113

ig hest

llighest

Lo west

424 Mayl:
59 Mayib
111 Jan lt
4
/
211J'nel4
41 515)1')
4
143 Augli

20 Jan
05 Mai
50 Jan
4 Feu
10 Feb
10 Jan

Philadelphia
50 37% Apr13 43 Jan 2
American Cement
40
*39
50 American Railways__ 00 44% J'ly r 46% r coil4
*404 463
50 32% Feu23 464 Aug
Steel
4
/
431 43k-, 3,683 Cambria
4.Ply 14
Electric Co of America 10 x107 Jan 2o 127
'-12'. 12%
231 Elea Storage Battery 100 43 Jan 30 0312J'ly 30
604
6014
15 4Jan 5 25% Feb
100
22
224 2,435 Lieu Asphalt tr ctls
71 Ang,t,
100 53 fan
Do prof tr ctfs
081 684 1,250
4
/
50 9142an 21 15 Ate 19
10 Keystone Telelilione
*13
134
33%31ay t
4Jan
10u 143
8,070 Lake Superior Corp
2714 '28
682 Lehigh C & Nav tr ctfe 50 96 Jan 5 L2114 Aug'.
1164119
50 67 N'eb 23 864 Augt.
11,011 Lehigh Valley
8519
85
4
/
50 031 Feb24 71% Aug12
1394 69„ 2,061 Pennsylvania RR
4
3
883 Philadelp'aCo(Pittsti) 50 404 Feb24 494 Auglt
•471 47%
4
bil6e.trict 25 114 Fob28
5,532 Philadelphia
12
12
364Aut2150 24% Jau
1
4,300 Philo Rapid Transit
30
30
4
/
50 591 Feb23
5
78 787 26,252 Beading
12
71
;
1 5.4 Jan it 821 ;:
0% 1313ie 1,815 Tonopah Mining
,
114 4 1,.. y 0
511 LO% Jan 5 587231ab 4
4,869 0111011 .eraetiou
533 54
4
50 84% may13
6.814 United Gas Inlet
4
/
9% 801
8

PHILADELPHIA

!:ande tor Previous
Year(190S

30 Deo
4
/
811 Dec
l02 Dec
16 Deo
26 Dec
12 Nov

43 Dec
4
/
461 Nov
4012 Deo
111 Dec
4
474 Dec
19% Dec
59'9 Dec
9 May
17 Dee
4
073 Dec
76% Dec
66114 Deo
443 Dec
4
4
123 Nov
4
1
/J'm 25'.Dec
14
Feb 7111 Dec
46
%)Apr
37Jan
112:
52eb
73 jan
r44%,J'ne 504 Apr
4
943 Deo
4
/
321 Mai
42.4 Min
8
267 Feb
8',, Jan
2414 Feb
34 Jan
8
191 Jab
4
/
41-Jan
Feb
784Jan
4Feb
525
54914Jan
34'. mai

BAl..1`1.11151.1.14
Chas CityRy 1st513'23J4
Chas By U & El5s'911 31-b
Charl C& A 26 76'10 A-0
City& Sub let 58.222 J-D
City& Sub(Was)let58'48
Coal & I By 1st 58'20E-A
Col&Gruv lat68.1916J-J
Cousol(l88 6s-1010.1-D
...1939J.1)
53
Gad,Ala let eon 58'45J4
GaCar &N let 58 g'29J-J
Georgia P 1st 6s. .'22 J-J
ClaSo & Fla 1st 58 11145J4
ci-B-S Brew 3-48 1951M-8
2d income 58 1951 11-N
/Tree 1st 56'28A-0
Knox,
LakeR El 1st gu5s'422.1-5
Macon Ry&Ltlat58'53.7,1
Memphis St 1st 58'45 J-J
Mettit(Wash)letbs'251f A
Mt Ver Cot Duck 1st Is.
Npt N&O Plat56'38 31-N
Norfolk St let 58'44..J.J
4
/
8
North Cent41 1925 A-0
Series A 5s 1926. ..J4
Series B 53 11126. ..1-J
Pitt Un Trao 56 1997.J.J
Foto Val 1st 58 1941 J4
Say Fla &West5e'34 A.0
Seaboard A L 4a 1950A-0
T..)
Scab & Roan Os
.A-0
South Bound 1st 5s.
6'29 M-N
4
/
U El L&P let41
Un By& El let 48'49 31-S
JD
Income 48 1949
-J-D
Funding 381936.
Va Mid 20 ser 68'11.51-S
3d series tie 1916-11-8
4th ser 3.4.551921.51-5
5th serials 5s 1926.51-s
Vii (State) 33 new '32.J-J
Fund debt 2-3s 1991.J•J
West N C con 681914 J
WesVa C&P 1st6g'11 J-J
Wil & Weld 58..1.935.J4

Bid

Ask

100
4
/
911 93
102',,
108 109
103% 104
103 L031
4
/
109 111
101 1011
4
/
111%
4
105.106
105 1064
110
109 1094
46
404
13
4
/
141
107 109
115
100 1004
110
4
813 82
4
/
931 95
105
104
115
116
108
4
/
1031
110
4
593 004
108 109
107 109 •
92
94
88
884
58; 58%
854 86%
103
105
105
107
91
92
91
92
107 109
10219 102%
113 114

4
1
4
1
Ex-rights. U $7.50 paid. t $124 paid. $11113/paid. 0$35 paid. a Receipts. b $25 paid. e$30 paid. d$42/ pai41.

522

THE CHRONICLE

Volume of Business at Stock Exchanges

lile^tric Companies
Chicago Edison Co-See C
e Kings Co El L&P Co 100
Narragan(Prov) El Co_ 50
NY&Q El L&PowCo_100
Preferred
100
United Elec of N J_ _100
1st g 4s 1949
J-D

[VOL. Lxxxix.
Bid
icag
127
*91
32
70
70
76

Ask
o list
131
93
37
72
75
77

Industria. and Miscel.
Bid Ask
Consol Rubber Tire_10
5
Preferred
'13.
100 - - 26
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
Debenture 43 1031 A&O 1 30
35
Con Steamship Lines_100
DAILY,WEEKLY AND YEARLY.
_
Coll tr 4s 1957 nets J&J f - - - IS"
2
0
Corn Prod Ref-See Stock Exc list
Stocks.
Railroad
e Crucible Steel
00
100 1_318 1312
Week ending
&c.
State
e Preferred
81
U. S.
Aug. 27 1909.
Shares. I Par value.
Bonds.
Cumbertand-Ely Copper.5 47 14e Pre
Bonds.
Ferry Companies
7 -Bonds.
B & N Y 1st 6s 1911-14 88 92 e Diamond Match Co_100 129 130
Saturday
529,418 $48,441,800 $1,713,500
$18,000
Dominion Copper
NY &ER Ferry stk_100 34 38
10...
Monday
1 891,946 81,607,100
3,270,500
1st 5s 1922
Douglas Copper
124,000 $10,000
M-N 55 65
5 *158
Tuesday
! 800.108 73,930,800
2,779,000
112,000
2,000 NYFeHob Is May '46_J-D 96 98 Econ'y Lt do P (Joliet, III)
Wednesday
' 1,020,908 94,180,800
3,449,500
HobEy 1st 5s 1946 M-N 106 ---:
1st M s f g Is 1956.J-0 94
80,000
98
Thursday
1,266,982 116,620,200
5,507,000
- Electric Boat
NY deNJ 58 1946_ _J-J 95
125,500
25
Friday
1,155,3613 107,336,600
4,016,000
165,500
65
Preferred
5,000 10th & 23d Sts Ferry_100
188
34 7
4
°
1st mtge Is 1919 J-D 65 -0 Empire Steel
Total
I 5,664,678 5522,117,300 $21,335,500
$625,000 $17,000 e Union Ferry stock _100 2712 29
75
78
Preferred
1
8
108 94
e 1st Is 1920
M-N 94 98 eFederal Sugar of NY-See Stk E x list
Sales at
97
Week ending Aug. 27.
eGeneral Chernical_1 0
Jan. 1 to Aug. 27.
New York Stock
Short-Term Notes
e referred
,3
14
334
100 10P 106
613,,
Erchoiqe.
AM Cig ser A 4s'11M-S 9814 9914 Goldfield Consol Mines_10
1909.
.1908.
1909.
1908.
Ser B 4s Mch 15'12 M-S 98
9834 G3id Hill Copper
1
*12 114
Stocks-No. shares_-_
5,664,678
4,152,762
,
''0 *9% 93
134,614,900
8
116,463,823 Am Tel & Tel g Os '10_J-J 10014 10012 Greene-Cananea
Par value
4
$522,117,300 $377,463,300 $12,349,891,825 510,027,866,650 Atlan Coast L Os '10_M-S 1008 1003 Guggenheim Explor'n 100 210 220
Bank shares, par
'08_M-S / 6 • 72 eHackensack Water Co
$1,500
$40,400
$139,900 Cm Ham&D4
Col tr g 4s 1913___-J-J 9714 98
Bonds.
Ref g 4s '52 op '12 _J &J 89 91
Government bonds-- _
4
C C & St L 5s, June '11 10114 1013 Hall Signal Co
55
$17,000
$7,000
100 50
$337,700
$459,620
Erie Os,
- State bonds
13
625,000
2,167,500
26,31)5,700
67,189,500 Interb Apr 8 1911._ A-0 la* 1704 - Havana Tobacco Co. 100 10
T g 6s 1911 M-N
14
RR. and misc. bonds_ 21,335,000 20,871,000
26
Preferred
100 20
899.706,100
535,293.700
Is Meh 1910
1st g Is June 1 '22_J-D 65
70
M-S 101 10114
9934
KC Ry&Light 6s
Total bonds
$21,977,0001 $23,045,500
$526,349,500
5602,942,820 Lack Steel Is g '12_M-S 9934 10014 Hecker-Jones-Jewell Mill
10014
m-s 10612 10812
1910_M-S
1st Os 1922
Lake Sh&M So 5s '10 F-A 10038 100.8 Her'g-Hall-Mar. new_100 35 45
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
Lou & Nash g Os '10_M-S 10038 10034 Hoboken Land &Imp
EXCHANGES.
O 06 4
NikON -. 3_
Mex Cent 5s July 1 1910 10014 10012
e Os 1910
Mich Cent 5s 1910
F-A 100% 10058 Houston Oil
7
8
100
Boston.
Philadelphia.
Minn & St L g 5s 'll_F-A 991299%
100Tudsonieaity
Preferred
40
Week ending
com_10055 110
N Y Cent Is 1910
F-A 1003
10039
1°°100
Aug. 27 1909.
Listed Unlisted
Unlisted
Listed
Bond
Bond
102
Y C Lines Eqp 58'10-27 541474% c Ingersoll-Band
N
eprefer d
!
shares. shares.
shares.
shares.
sales.
sales.
NYNH& 115s'10-'12 10012
Norf & West Os 1910 M-N 1003 101
Internat'l Bank'g Coin 1°
42°12 14712
Saturday
12,321
10,987
$26,500
8,630
6,727
$49,700 Pa RR Os Mch 15 '10 M-S 10012 1003 Enternat'l Men Mar-See S tk Ex list
4
Monday
14,796
14,419
16,093
21,500
0,111
23,000 Public Service Corp 5s See St ttys International Niekel_100 103 112
Tuesday
22,378
19,651
53,000
27.297
17,263
75,300 St 14 & San Fr g 5s '11 J &J 9914 99 4
91
3
Preferred
Wednesday
27,413
31,823
13,771
85,000
15,467
40,400
4 M %g notes'12op F&A 96 98
92
1
1st g 5s 1932
Salt__..F00 811
A 8
Thursday
22,022
37,000
21,359
10,520
12,715
46,000 South By g 55 1910...F-A 10014 1003 International
4
14
Friday
42,000
23,013
24,117
6,465
13,607
24,200 Southern By 6s 1911_M-N 10014 101
60
1st g 5s 1951
Tidewater Os, 1913, guar 10212 103 International Silver.
.100 I 51
0
1
8
) 11
Total
121,050 130,805 $265,000
76,0301 71,890 $258.600 Westingh'e EideM 6s 1910 10012 101
Preferred
100 05 105
111
6s 1948
1st
Internal Smelt de Reigi- 1?) 11
0
g 130
Railroad
Jones & Laughlin Steel Co
Atch Top & Santa Fe
103
Cony 45 (w 1)-See Stk Exc list Lackas r n Is S939: N 15(1
All bond prices aro now "and interest" except where marked "1."
lst wa gna 1tee1: 14 O 9
51
_1-0
Chic Gt West com(w 1)100 27
28
*1714
4
Preferred (w I) __ __100 58 59 Lanston Monotype_ 20 24212 173
Lawyers' Mtge Co_ _..100
Street Railways
Bid Ask
Street Railways
Peo & St L pref__100
Bid Ask Chic
_______ 1Leh & Wilkes-B Coal 50 120
New York City
Pub Serv Corp N J (Con)
Deposited stock
fir
Lord de Taylor
Bleeck St & Ful F stk_100 15 30
Rapid Tran St By._100 240 250
Undeposited stock_ __ _
Preferred
100 1.88 103
1°9
e 1st mtge 48 1950_J-J 65 75
1st 58 1921
Prior lien g 4 3ls'30111&S /
A-0 106
__ eLorillard (P) prof..
-8i 30
.100 125
I ll'y & 7th Ave stk__100 140 155
J 0 Bob & Paterson
Con mtg g Os 1930_J&J 1 45
16
.100
Madison Sq Garden.
e 2d mtze 5s 1914__J-J /100 101
4s g 1949
Income 5s, July 1930 / M-N 77 79
100
2d 6s 1919
Con 5s 1943-See Stock Exc St
So J Gas EldeTrac_100 129 131 Chicago Subway
100 1812 1912 Manhattan Transit U- N '/812 2 4
2O
3
B'way Surf 1st Is gu 1924 102 104
Gu g 5s 1053
M-S 9912 100 Ft W & Den Cy std 100 9712 ---- Mitchell Mining
10
r Cent'l Crosst'n 81k_100 -------No Bud Co By 6s'14 J-J 106 108
Kansas City Sou 58 Apr 1
Monongahela R Coal.. 50 *7
preferred
e 1st mtge Os 1922_M-N
5s 1928
W
J-J 106 108
1950 (w 1)-See Stock Exc list
50 *253 26
4
p Cen Pk N & Fl R stk_100 28 34
Eat 5s 1924____M-N 103
Nat Rys of Mexico-See S tk Ex list
.100 11.: 115
Mortgage Bond Co.
Chet'r de 10th St stk 100 80 90
Pat City con 6s '31_J-D 120 1H- North'n Securities Stubs_ 125 135 Nat Bank of Cuba_
100 101 104
ol&Oth Ave 5s See Stock Exc list
2d 6s opt 1914__A-0 100
Pitts Bess & L E
50 *
33 3612 Nat'l Surety (new)_ _100 185
ryDEB &BSo Side El (Chic) See Ch tcago list
Preferred
-50 *68 72 Nevada Cons'd Copper 5 *2312 24
e 1st gold Ss 1932 J-0 95 100 Syracuse R T 55'46_M&S 103 10412 eRaliroad Securities Co
8
Nev-Utah Mitt & Sm. 10 *178 116,
e Scrip 5s 1914._ F-A/ 45 50 Trent P & H 5s 1943-J-D 95 100
Ill C stk tr cfs ser A '52 91 ---- eNew Central Coal
20 40 53
lighth Avenue stock_100 250 300 United Rys of St L
Seaboard Company
NY Air Brake Os-See Stir Exc list
e Scrip 6s 1914
Corn vot tr etts____100 22 2312
F-AI 95 100
1st preferred
100 75 77 N Y Biscuit Os 1911_M-S /100
r 42d & Gr St F'y stk_100 200 250
e Preferred
100
Corn & 2d pref-See Bal t Exc list e New York Dock._..100 40
7112
47
12d St M & St N Ave_100
Gen 4s 1934-See Stock EkW list Seaboard Air Line
.
e Preferred
100 821, 8514
61st mtge 6s 1910_M-S - - 11iii UnitRys San Fran See Stk Exc list
Ii Coll 58 eat May '11 IM-S 9912 100 N Y Mtge & Security_100 240
2d income Os 1915_J-J! 50
Wash Ry Fe El Co
100 44 46 Union Pacific 48-See Stk Exc list
N Y Transportation
20 *4
Preferred
nter-Met-See Stk Each 'Inge list
100 89 91 West Pac 1st 5s '33 M-S 983 9834 Niles-Bem.Pond com_100 100 105
8
,.exAv &PavF 5s See Stk Exc list
4s1951
J-D 88 89
Niptssing Mines
5 *1038 1012
Ketropol St Ry-See Stk Exc list
Industrial and Miscel.
3
4
e Ontario Silver
100
inth Avenue stock__100 150 170
Gas Securires
Adams Exp g 48 1947 J-D /,19512 324 0tisrIlev etOr COM_---100 68 60
4 93 9 0
0
p e rrad
econd Avenue stocic_100 16 20
New York
Ahmeek Mining
25
100 10012 102
e 1st mtge 5s 1909_M-N 96 100 Cent Un Gas Is ,,
'27 J-J 102 103 Alliance Realty
100 115 120 Pittsburgh Brewing
50 *231i., 2312
Consol 55 1948____F-A f 74
77 Con Gas (N Y)
-See Stk Exc list Allis-Chalmers Co 1st mtg
43
Preferred
50
1Sixth Avenue stock_100 110 120 e Mutual Gas
17,
s f 5s 1936-See Stock Exc list
100 145 152
Pittsburgh Coal-See Stk Exc list
ou Donley 5s 1945___J-J 60 85 New Amsterdam Gas
American Book
48
100
PopeMfgCo com(new) 100 44
Fe 1st 5s 1919___A-0 90 95
1st consol 55 1948_J-J 101 103 American Brass
53
100 11° 115165
Preferred (new)
100 85 93
hird Avenue-See Stock Exc list NY&ERGas 1st Os '44 J-J 10412 10514 American Chicle com_100 222 228 Pratt & Whitney pref_ 100 95 105
Tarry W P & M 5s 1928 1 50 80
Consol 5s 1945
J-J 97 99
Preferred
100 103 105 Realty Assoc(Bklyn)_100 130 140
YkersStRR5s 1946 A-0 85 95 N Y & Richmond Gas 100 43 45 Am Graphophone corn 100
9
al sa
Roy Bak Powd com_100 160 170
18th&29th Sts 53 '96A-0 / 20 25 Nor Un 1st Is 1927M-N /97 99
Preferred
2
5
(
100 109 110
100 20 - .-etyerae 1
ref c rr 1
p Twenty-third St stk_100 200 250 e Standard Gas corn 100
70 Amer Hardware
MinlIeat & Lt..100 129 1.30
ng
100 132 134
ITnion Ry 1st 58 1942_ F-A 101
e Preferred
100 75 90 AM Malting 6s 1914 J-D 101 104 Seneca
25
Westchest 1st 5s '43 J-J 60 IN1st Is 1930
M-N 100 106 Amer Press Assoe'n 100 95100 445 155
Singer Mfg Co
Brooklyn
Is
Other Cities
Am Soda Fount com_100
South I &S com(w l).100 1818 19
titian Ave 6s 1900___A-0 100 101 Am Gas & Mee corn__ 50 *44
45
1st preferred
100 54'8 5512
Preferred (w 1)
,100 30 15
Con Is g 1931
Preferred
50 *43 45
A-0 97 102
12 1 ,
2d preferred
100
100
6
2
pB &WE Os 1933 A-0 95 100 Amer Light & Tract 100 233 238 Am St Found new-See S tk Ex list StandardgCordage
26
1st M 5s '31 red_ A-0 / 24
Brooklyn City Stock_ 10 191 195
Preened
2
Os 1935
100 106 107
4
cou
M
A &O 10212 106A5s Apr 1 1931
Con 5s
-See Stir Each ange list Bay State Gas
50
Deb 4s 1923
pler corn 100
30
151'2di
Standard
F&A 2 0 27
,
7
BkinHgts 1st Os 1941 A-0 09 101 Bingh't'n (NY) Gas Wks
fiiii- 110
American Surety
100
Preferred
50
Bkin Queens Co & Sub
1st g 5s 1933
118 114
A &O 94 98 American Thread pret 5 *412 514 Standard Milling Co 100 19 20
e 1st g 5s '41 op '16_J-J 100 103 Brooklyn Un Gas-SeeStk Exc list Am Tobacco Co corn_ _100 430 440
100 58 60
Preferred
Con guar 5s
-See Stock Exc list Buffalo City Gas stk__100
Amer Typetders corn, 100 40
M-N 84 87
43
1st 5s 1930
Bklyn Rap Tran-See Stk Exc list
7
1st 5s 1947
Preferred
-See Stock Exc 118112
100 96 100 Standard Oil of N J 100 697 700
Coney 151 & Bklyn_10
80 05 Con Gas of N I Is '36_J-J 89 93 Miner Writing Paper.
3
4 Swift de Co-See Bost Stk Exc list
.100
1st cons g 4s 1948_ _J-J 75 85 Consumers' L H & Pow
Preferred
26
100 24
1st Is 1910-1014.--J-J 1003 10112
4
Brk C & N 55 1939 J-J 97 100
36 146
J-D 105 .
Os 1938_
1st s f g 5s'19 op '09_J-J 8712 8812 eTexas & Pacific Coal-100 00 100
.
Dr'p't&LorSt 1st Cs M&N
Denver Gas de E1ec
100
912 1012 Title Ins Coot N Y_100 153
AtIGt&WIndSSLines_100
Kings C El 4s
-See Stock Exc list
Gen g 55 1949 op_M-N 96 97
Preferred
100 2812 3012 Tonopah Mln (Nevada) 1 *634 673
Nassau Elec peel
Elizabeth Gas Lt Co.
.100 275
100
Col tr g 55 1959
4
J-J 1 69 71 Trenton Potteries corn 100
5s 1944
Essex & Hudson Gas_100 132 131 Barney & Smith Car 100 30 41
A-0 100
Preferred. new
100 50 Co
1st 4s 1951-See Stock Exc list Gas & El Bergen Co_100
Preferred
100
100 101 s110 Trow Directory
3212
N W'bg&Flat 1st ex 4 %s 90 95 o Or Rap 1st 5s '15_F-A 99 16- Bothi'm Steel Corp-See S tk Ex list
-3
2
Union Typewriter com100 'iii 69
.
Steinway 1st 6s 1922 J-J 105
7
0
100 134 132 Bliss Company corn.. 50 118 123
Hudson Co Gas
100 115 118
1st preferred
Other Cities
Indiana Lighting Co 100 30 33
Preferred
100 115 118
2d preferred
50 123 130
Buffalo Street RyF-A
4s 1958 op
Bond & Mtge Guar...100 527212
- United Bk Note Corp- 50 *52 57
1st consol 5s 1931_F-A 10712 1081 Indianapolis Gas
50
Borden's Cond Milk_100 118 123 Preferred
-50 *52 57
Deb Os 1917
A-0 106 108
A-0
1st g 5s 1952
Preferred
100 76 78
United Cigar Mfrs
100 105 110
Columbus(0) St Ry 100 9612, 9718 Jackson Gas 55 g' 37_A-0
British Col Copper
100 107 110
5 *63
4 7 e Preferred
Preferred
Laclede Gas
100
100 10414
e
1.097485_ -v82
100 1012 11
2518 United Cormer
1.0927 -g Butte Coalition Mining 15 *25
Colum Ry con 5s--SeePhl la list
100
e Preferred _____
Casein Co of Am com_100
212 4
100 30 35
Preferred
Crosst'wn 1st 55 '33 J-D 100 104 Madison Gas Os 1926_ A-0 1103 108
Preferred
100 r215 220
100 55 65
U S Casualty
s Conn Ry & Ltg com_100 74
3 : Casualty Co of Amer 100 125 140 U S Envelope corn
78 Newark Gas Cs 1944 Q-J
3
38
100 49 52
e Preferred
100 80 85 Newark Consol Gas _100 901 10012 Celluloid Co
Preferred
100 110 117
100 130 133
1st de ref 4 as
-See Stk Exc list
Cent Fireworks corn...100
e Con g 5s 1948-J-D
100 106
7
9 U S Finishing
Grand Rapids Ry
100 10314 10514 No Hudson L H de Pow
Preferred
Preferred
100 110 fiS"
100 60 70
Preferred
A&O 106 104 Central Foundry
2
100 89
Os 1038
234 314 U S Steel Corporation
100
e Loulsv St 5s 1930._J&J 1077 108'4 Pat & Pas Gas&Elec_100 90 95
Preferred
18
Col tr 5 f 55 '51 opt '11 11434 11518
100 16
Lynn & Dos 1st 55'24 J-D 106 1)7
e Con g 5s 1949___M-S
Deb Os 1919 op'01_M-N 68
Col tr s f 5s '51 not opt 1143 1151s
72
4
e New On Rys & Lgt_100 19
191 St Joseph Gas 5s 1937_J-J 93 97 Chesebrough Mfg Co 100 520 570 U S Tit Gu & Indem_100 50
e Preferred
100 473 48 Telegraph Cc Te'ephone
City Investing Co.
.._100 65 70 eUtah Copper Co-See Stk Ex° ii;i"
Gen M g 4 Yis'35 SeeS tk Ex list e Amer Teleg & Cable_100 81 86
Preferred
100 98 103 Waterbury Co com---100
Pub Serv Corp of N J_100 107 1081
14 1 10
Central & So Amer. 100 110 1 27 eClatlin (H B) com
Preferred
100 100 105
100
Tr ctfs 2% to 6%perpet 91
93 Comm'i Un Tel (NY). 25
elst preferred
100 91
95 Westchester & Bronx Tlt
Coll 55 g notes '09_M-N 10018 1001 Emp & Bay State Tel_100
e2d preferred
100 92 9712
& Mtge Guar
100 155
North Jersey St Ry_ 100 45 55 Franklin
100 °5 75 Col & Hock Coal &I p1100 ---- 90 Westingh'se Air Bmke_50 *11812
40 45
1st 4s 1948
M-N 78 80 e Gold & Stock Teleg_100 100 116
1st g Os 1917
West El & Mfg 5s-SeeStk Exo list
J-J
Cons Tract of N J__100 7612 77 N Y & N'J Teleph-See St it Exc list
Col tr 6s Oct 1956 J-J Iii- 104
- -- White Knob Min
10
1st 55 1033
J-D 10612 1071 e Northwestern Teleg_ 50 108 114 Consol Car Heating _100 25 30
Preferred
10
Now'icPaslly 55 '30 J-J 108 110 Pacific & Atlantic
25 70 78 Cons By Lgt&Refrig..100 ..... --- Worthing Pump pref-100 106 10911
Southern & Atlantic
25 90 100
• Per share, a Ex-rights. Z Basis. o Sells on Stk. Ex., but not very active.
vlat price. n Nom. s Sale price,
y Ex-rights. s New stOOk.

1

gil

Outside Securities

i)




r

1
.10.

THE CHRONICLE

AUG. 28 1909.1

523

$txnestnxent and tailroad intelligence.
_RAILROAD Gi-tOSS 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 supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with .1u,y, but covers some other
period. The returns ot the street railways are brought toyether separately on a subsequent pa7e.
Latest Gross Earnings.
ROADS.

Week or
Month.

July 1 to Latest Date.

Current
Year.

Previous
Year.

Current
Year.

Previous
Year.

$

S

$

$

Ala NO & Tex Pao
N 0 & N East-r July
240,815 212,106
212,106
240,815
Ala & Vicksb.....r July
121,332 117,611
117,611
121,332
Vicks Shr & Pac.r Juiy
100,298 108,300
108,300
106,298
Ala Tenn & North. June
4,047
3,552
61,715
45.664
k Atch Top & S Fe_ July
7,730,596 6,985,401 7,730,506 6,085,401
Atlanta Birm & Atl 2d wk Aug
43,079
31.410
204,608
261,766
Atlantic Coast Line June
2,033.018 1.928.966 26,144.065 26,029,052
Baltimore & Ohio_ _ July
6,950,872 6,149,557 6,950,872 6,149,557
Bangor & Aroostook June
163,710 180,894 2,818,444 2,618,328
Bellefonte Central__ July
4,189
4,953
4,953
4,189
Boston & Maine. r June
3,448,873 3,045,602 39,528,698 38,900,740
Bridgeton & Saco It June
4,600
6.265
48.511
52,999
Buff itoch de Pitts_ 3d wk Aug 183,436 144,053 1,387,061
1,104,788
BuLTalo &
r May
185,938 119.300 2,094,398 1,925,618
Canadian Northern_ 3d wk Aug 175,100 192,500 1,397,000 1,233,000
Canadian Pacilic___ 3d wk Aug 1,555,000 1,356,000 11,772,000 10,442,000
Central of Georgia_ 3d wk Aug 200,000 185,800 1,465,338 1,492,462
Centra,
N
nay
2,000,890 2,280,166 23,415,138 Z4.922,887
Central Vermont_ _r stay
293,526 265,605 3,202,035 3,118,036
Chattanooga South. 4th wkJuly
2,027
1,980
11,502
6,427
Chesapeake & Ohio. 3d wk Aug 627,860 527,593 4,063,267 3,677,911
Chesterfield & Lane June
3.083
3,392
54,246
62,552
Chicago & Alton By 3d wk Aug 332,167 279,520 1,902,053 1,866,739
Chic Burl & Quincyr iay
;.139,751 5,567,5112
72,004,307
Chicago Great West 2d wk Aug 154,247 168,844 72,185,863
985,003
963,601
Chic Ind & Louisv_ 3d wk Aug 119,346 105,524
763,674
844,325
Chic Ind & Southern -See New York Con tat'.
Chic Milw & St Paul June
4.984,635 4,391,265 59,897,483 56,932,620
Chic do Nor West.-r July
5,900,007 J,213,277 5,900,007 5,213,277
Chic St P M do 0--r July
1,123,975 998,487 1,123,975
098,487
Chic Term Trans it, lay
97,186
77,523 1,000,133 1,009,436
Gin Ham & Day. June
.r
642,428 660,757 7,897,048 8.011,484
Clev Chi Chic h at L -ace New York Cen tral.
Colorado Midland _ lune
188,850 164,967
2,200,765
h Colorado & South 3d wk Aug 296,720 286,420 2,312 590 2,085,612
2,096,162
Colum Newb & Lau June
16,756
282,581
15,861
279,231
Copper Range
Juno
78,528
807,322
74,919
766,021
Cornwall
June
10,715
4,777
106,360
117,733
Cornwall & Leban_r June
29,021
308,104
22,067
329,913
Cuba Railroad
June
196.704 145,567 2,157,165 2,039,468
1 Delaware & Mud. June
1,545,741 1,497,875 18,798,536 10,535,114
Del Lack de West_r Juno
2,882 952 2,889,803 33,553,436 33,810,254
(
Deny & Rio Grand 3d wk Aug 430,200 396,600 3,314,900 2,777,900
Del Tol & Iront sy 2d wk Aug
32,715
34,566
171.776
179 598
.
Ann Arbor
2(1 wit Aug
38,861
225,651
41,921
232,159
Detroit & Mackinac 3(1 wk Aug
25,618
174,037
24,980
174,991
Dui & Iron Range_r lune
1.048.688 559,750 6,847,572 6,207,500
Dul Sou Sh & Atl_ _ 3d wk Aug
68,595
392,360
51,574
515,938
El Paso do So West.r June
628,412 529,428 7,274,014 7,564,094
Erie
May
1,299,728 3,851,252 46,243,297 45,670.370
Evansville & Terre Haute-See Rock Is iand Syst em.
Fairchild & N E.__ June
1,317
10,309
1,613
19,894
Fonda Johns & Giov June
69,714
63,621
777,474
773,848
Georgia Railroad
June
170,740 191,190 2,751,094 2,858.750
Georgia South & Fla -See Sout hern Rai Nay.
Grand Trunk Syst_ 3d wk Aug 857,003 798,254 6,049,064
5,691,866
Gr Trunk West_ _ list wk Aug 127,799 122,271
598,691
590.739
Det Gr Hay & Mu 1st wit Aug
36,406
35,842
186,771
184,077
Canada Atlantic_ 1st wk Aug
43,521
40,480
192,786
222,710
Great Northern Syst luly
5,144,975 1,450,493 5,144,075 4,450,493
Gulf & Ship Island_ June
140,390 126,912 1,873,196 2,068,878
Hocking Valley
Juno
469 018 448,621 5,878,414 5,841,763
Illinois Central
July
4 590,037 4,253,257 4.599.037 4,253,257
Internat & Gt Nor_ 3d wk Aug 130,000 126,000
930,000
861,000
a Interoceanic Mex_ 3d wit Aug 122,464 119,267
910,511
896,281
Iowa Central
3d wk Aug
61,831
63,784
427,829
045,500
Kanawha & Mich
155,917 177,440 2,127,637 2,022,938
June
6s0,1)28 744,334
Kansas City South_ July
666,028
744,334
K C Mex & Orient_ 2d wk Aug
34,987
21,279
Lake Erie h West'n -see New York Cen Oral.
July
Lehigh Valley
2,754,398 2,526,451 2,754,398 2,526,451
Lexington & East
June
36,366
35,065
412,625
497,933
June
Long Island
Inc.84 549
Dec 58 ,131
92,412
Louisiana & Arkan_ 1 tine
07,604 1,186,401 1,144,522
Loulsv Mend & St L tune
84,215
75 966 1,023,737
092,652
Louisville & Nattily_ 3d wk Aug 903,540 835,170 6,527,697 0,178,563
Macon & Birming'm July
11,184
11,387
11,184
11,387
Maine Central ___-t June
755,308 683,040 8,337,723 8,514,256
Manistique
3,193
7,403
July
3,193
7,403
Maryland & Penn_ _ Only
29;529
31,693
31,693
29,520
z Mexican Internat. 1(1 wk Aug 135,234 144,469
942,954
959,608
a Mexican Railway_ 1st wit Aug 165,700 131,700
830,400
736,300
a Mexican Southern 1st wk Aug
22,181
131,588
22,668
130.362
Centra'
- 'lee New V ork Centr 1'.
Mineral Range_
3d wk Aug
16,014
17,646
124,923
116,692
Minneap & St Lout 3d wk Aug
73,837
78,249
595,857
531,434
Minn St P & S S M_ 3(1 wit Aug 247,153 214,538 1,736,798 1,571,871
Chicago Division_ 3d. wk Aug 165,788 146,190 1,207,116 1,083,59,
Missouri Han & Tex tune
1,890.871 1,730,114 25.300,915 23,283,67(
Alo Pac do Iron Mt 3d wit Aug 088,000 849,000 6,756,000 5,028,001
Central Branch.. 3d wk Au.
36,000
37,000
230,000
228,00(
Total system_ _
3d wk Aug 1,025,000 885,000 8,986,000 6,156,00(
5 Mobile Jack & K
Wit Aug 14
23,938
28,104
176,100
164,11,
Nashat Chatt de St
June
897,235 779,313 11,122,114 10,802,03:
z Nat Rys of Mexico 3d wk Aug 895,415 884,997 6,583,588 6,266,521
Nevada-Cal-Oregon 2d wk Aug
10,825
8,863
64,762
49,261
Jena
q qAK
A sea
Nevada Central_
75 RAA
qm A,.

Later Gross Earnings.
ROADS.

Week or
Month.

Current
Year.

Prm,ous
Year.

-uly 1 to Lases:: Date
c'urrent.
Year.

Previous
Year.

S'
eN Y C & Hod Illy_ June
7.695.909 6.943 941 90,760,530 89,748,760
Lake Shore do M S June
3 648,559 1,004,390 11.869.751 41.190 527
nLake Erle&West June
384,582 340,380 4,661.463 4,590,517
Chic Ind & South June
217.778 207.426 2.932,785 2,790,387
Michigan Central. June
2.177,052 1,923 424 25.773.574 26.044,036
Cleve C C & St L_ June
2,172,923 1.956,946 26,113,700 24,858.757
Peoria & Eastern June
228,783 216,109 2,830.040 2.832.450
Cincinnati North_ June
82,034
80,735 1,108 475
921.309
Pitts dc Lake Erie June
1.279.907 833.792 12,084,737 11,950.071
Rutland
June
260.591 234,911 2,886,248 2,905,080
N Y Chic & St L. June
741,348 632,114 9,500,301 9,753,667
Total all lines
June
18889468 16374165 220476600 217535553
N V Ont & Western June
719.329 740,264 8,290,170 8,121.494
N Y N H. Jo Hart...r tune
1,827,26/ 1,357,264 54,347,630 53,050,145
N V Susq de West_ May
261,679 261,322 3,026,080 3,038,755
Norfolk h South_ _r July
216,463 183,913
216,4(W
183,913
Norrolic & Western_ June
2.745,450 2,151,236 20,327,101 28,962.217
Northern Central __ June
1,009,802 969,302 11,658,048 12,436,248
Northern Pacific. r June
6 147,697 1,240,698 68.460,747 68,220,677
Pacific Coast Co
("tine
062,376 392,286 6,380.50, 7,2/2,958
Pennsylvania Co._r June
1,216,206 3,509,614 41,681,765 43.360.842
a Penn-E of P & E June
12580687 11313187 142419390 149692190
d West of P & E. June
Inc. 97 1.600
Dec. 2,44 3.900
Pere Marquette_ _ _r June
1,195,678 1,012,132 14,169,565 13,322,921
Phlia Bait & Wash_ June
1,520,817 1.430.317 16.929 349 16.895.349
Fitts Cin Chic& StI. July
,439,388 2.227,904 2,430,38s 2,227,004
Raleigh & Southp't July
11,481
9,703
11.481
9,703
Reading Company_
Phila & Reading.r June
1,182,793 2,882,730 39.060,234 39.878,882
Coal & Iron Co_ May
9,545.783 3,075,765 32.838,555 35,937.336
Total both cos__ _ \fly
5,781.491 6.370.697 69 716,350 74.657.762
Rich Fred & Pot__r June
193,952 178,060 2,026,325 2,003,114
Rio Grande June_
May
74,820
65,652
797.440
749,530
Rio Grande South__ 2d wk Aug
10,284
12,191
65.1189
72,495
Rock Island System June
5,443,471 4.197.279 61,184,887 58,484,197
St L & San Fran_ June
3.092.535 2,423,192 38.195.738 35,806,132
Chic & East 111_ June
818.128 767.739 10.269,619 10,742,731
Evansv do Ter H June
156,881 162,044 2,093,997 2,204,069
Total of all lines_ June
9,510,816 7,550,254 111744241 107237130
St Jos & Grand Isl. June
105,340 118,479 1,562,113 1.609.617
St Louis Southwest 3d wk Aug 184,815 194,699 1,364,71g 1,316,717
San Pod LA & S L_r June
755,283 605,760 7.450,462 7,518,512
Seaboard Air Line_ June
1.290.510 1,163,379 16,451,677 15,675,449
Atlanta & Birm__ June
69,203
68,466
942,870
868,893
Florida West Sh_ June
9,816
7,814
153,539
124,011
Southern Indiana_r June
98,888
85,754 1,189,455 1,568.515
C Southern Pac Co_ June
10397489 9,2(33.596 120521909 123 272423
Southern Railway__ 3d wk Aug 1,012,543 943,87i 7,239,268 6,803,107
Mobile h Ohio__ 3(1 wk Aug 180,374 171,46) 1,301,170 1,215.723
Cm N O& T Pac_ 2(1 wk Aug 148,657 142,900
959,174
917.606
Ala Great South. 2d wk Aug
64,572
66,083
409,004
425,242
Georgia So & Fla- 2d wit Aug
34,064
33,469
231,060
206,898
Texas Central
9d wk Aug
18,375
21,266
111,804
116,485
Texas & Pacific___ 3d wk Aug 246,973 224,989 1,722,332 1.668,973
Tidewater & West..r June
5,881
6.312
74,362
88.081
Toledo dc Ohio Cent June
311,738 355,709 4,089,607 4,191,999
Toledo Poor & West 3d wk Aug
23,888
24,312
149,564
155.022
Toledo St L & West 2d wk Aug
78,946
89.470
451,790
453,621
Tombigbee Valley__ June
6,169
6,589
81,320
62,158
Union Pacific Syst_ June
6,864,177 6,131,182 78,750,461 76,039,225
Vandalla
r June
708.656 692,308 8.773.395 9,170,639
Virginia &Sou West July
102,116
92.573
102,110
92,573
Wabash
3d wk Aug 618,115 543,774 3,996,182 3,682,256
Western Maryland.r June
496,44(3 429,232 5,952,696 5,648,278
WestJersey & Seash June
537,124 499,224 5,464,658 5,713.858
Wheeling & L B. -June
509,364 471,411 5,633,644 5,397,001
.r
White Riv(VO2 wits end July 31
801
1.335
Wrightsville & Tenn July
15,864
15,843
15,864
15,843
Yazoo & Miss Vali_ July
655,598 584,551
655,598
584,551
--Current
Previous
Various Fiscal Years.
Period.
Year.
Year.
Bellefonte Central
Tan
1 Delaware & Hudson
Jan
Manistique
Jan
a Mexican Railway
Jan
a Mexican Southern
Jan
eNew York Central & Hud River Jan
Lake Shore & Michigan South Jan
n Lake Erie & Western
Jan
Chicago Indiana & Southern_ Jan
Michigan Central
Jan
Cleve CM Chic dc St Louis.... Jan
Peoria & Eastern
Jan
Cincinnati Northern
Jan
Pittsburgh & Lake Erie
Jan
Rutland
Jan
New York Chicago & St Louis Jan
Total all lines
Jan
Northern Central
Jan
d Penn-East of Pitts & Erie
Jan
d West of Pittsburgh Fs Erie_ Jan
Phil.% Baltimore & Washington_ Jan
Pitts On Chicago & St Louis... Jan
Rio Grande Junction
D
Texas & Pacific..
Jan
West Jersey & Seashore
Jan

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

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

$33,441
July 31
$33.494
June 30 9,224,676 8,817,462
July 31
24,458
'35,254
Aug 7 4,560.300 4,678,200
816,270
Aug 7
769,410
June 30 42,573,770 38,310,596
June 30 20.245,108 17,820.590
June 30 2,167,342 1,956,117
June 30 1,426,683 1,285,405
June 30 12,590,369 11,330,909
June 30 12.508,022 10,850.725
Juno 30 1,336,351 1,264,024
:Tune 30
524.630
395.914
June 30 5,782.642 4,087,715
June 30 1.370.055 1,233.491
June 30 4,671,473 4,509.019
June 30 105196445 93,050,505
June 30 5,711,094 5,431,294
June 30 70,142,949 64.023,149
June 30
inc.4,80 1,100
June 30 8,465,211 7,740,111
July 31 16,081,147 14,452,447
May 31
413.839
352,927
Aug 21 8,340,49) 7,666,532
June 30 2.398,452 2.272,352

AGGREGATES Or GROSS EARNINGS-Weekly and Monthly.
Weekly Summaries.

Cur'nf Year Prep's Year Inc. or Dec.

Monthly Summaries.

Our'nt Year Prep's Year Inc. or Dec.

3
3
X
3
, week Juno (44 roads)
(1
10,560,566 9,618,010
+051,556 9.89
Month Oct 1908 (796 roads) 231,015,129 219.932.145 -18,317,018 7.45
Id week June (44 roads).
10,668,619
9.763,404
+905,215 9.27
Month Nov 1908 (801 roads). 210,971,123 218,967,731 --7.996,608 3.65
Itl) week June (45 roads)-- 14,425,835 13,390,131 +1,035,704 7.73
Month Dec 1908 (798 roads) _ 205,218 441 193,791,645 +11,424,836 5.90
1st week July (40 roads)...._ 10,347,605
9,517,546
+830,059 8.72
Month Jan 1909 (780 roads) 132.347 842 172,275,946 + 10,071 896 5.84
1(1 week July (44 roads) __ _ 10,447.146 10,052,818
+394,328 3.92
Month Feb 1900 (792 roads) _ 173,857,206 159.082.896 4-13.884.310 8.68
1(1 week July (44 roads) _
10,795,980 10,228,187
+567.703 5.55 I Month Sich 1909 (715 roads). 102.107,425 130,4 ta,
4-21,278.330 11.78
4th week July (49 roads)---- 16.580,173 15,075,834 +1,501,339 9.98 'Month April 1909 (815 roads)
191,119,035 169,912,827 4- 21,201.208 12.48
lot week Aug (44 roads)---- 11,311,290 10,235,361 +1,075,929 10.51
Month May 1909 (849 roads) 201,143,840 174,105,001 1-27,038,839 15.47
2(1 week Aug (40 roads)
-- 11.565,764 10,600,774
+931,990 9.10
Month June 1909 (661 roa(is) 185,313.312 160,624,504 +24,708,808 15.38
ad week Aug (33 roads). 10,920,086 9,931.209
+988,877 9,96
Month July 1909( 52 roads)
53,904,004 49.721,071 + 4.182.933 8.42
a Mexican Currency. b Includes earnings of Gulf & Chicago Division. c Includes the Houston h Texas Central
and its
Coscrs lines directly operated. e Includes the New York :& Ottawa. the St. Lan rencc. & Adirondse!: and the Ottawa subsidtary lines in both years.
widen, being a Canadian road, does not make returns to the Inter-State Commerce Commission. (Includes Evansville& New York By., the latter of
& Indiana BR. Ii Includes
earnings of Colorado Jo Southern, Fort Worth & Denver City and all affiliated lines, excepting Trinity & Brazos
Valley Rft. k Includes in both years
earnings of Denver Enid & Gulf RR., Pecos Valley System and Santa Pe Prescott h Phoenix fly. I These
figures do not
poal
n Includes the Northern Ohio RR. o Figures here are on the old basis of accounting-not the new or Inter-State include receipts from sale of
Commerce Commission method
These figures are on the new busts prescribed by the Inter-State Commerce Onsses'ssion




VOL. Lxxxix.

THE CHRONICLE

524

-In the table which
Latest Gross Earnings by Weeks.
follows we sum up separately the earnings for the third
week of August. The table covers 33 roads and shows 9.96%
increase in the aggregate over the same week last year.
Third Week of August.

1909.

1908.

Increase. Decrease.

183,439
144,053
Buffalo Rochester dc Pittsb'gh_
162,500
175,100
Canadian Northern
1,555,000 1,356,000
Canadian Pacific
185,800
200,000
Central of Georgia
527,593
627,860
Chesapeake & Ohio
279,529
332,167
Chicago & Alton
105,524
119,346
Chicago Ind & Louisville
286,420
296,729
Colorado & Southern__
396,600
Denver & Rio Grande
430,200
24,980
Detroit & Mackinac
25,618
51,574
68,595
Duluth South Shore SG Atlantic
Grand Trunk of Canada
798,254
857,003
Grand Trunk Western
Detroit Gr Hay & Milwaukee
Canada Atlantic
126,000
130,000
International & Great Northern
119,267
122,464
Interoceanic of Mexico
63,784
61,831
Iowa Central
835,170
903,540
Louisville & Nashville
144,469
135,234
Mexican International
17,646
16,014
Mineral Range
73,837
78,249
Minneapolis & St Louis
247,153
214,538
Minneap St P &SSM
165,788
146,190
Chicago Division
988,000
849,000
Mo Pacific & Iron Mountain___
37,000
36,000
Central Branch
180,374
171,467
Mobile & Ohio
884,997
895,415
National Railways of Mexico._
184,816
194,699
St Louis Southwestern
943,875
1,012,543
Southern Railway_ 246,973
224,989
Texas & Pacific
24,312
23,888
Toledo Peoria & Western
543,774
618,115
Wabash

39,386
12,600
199,000
14,200
100,267
52,638
13,822
10,309
33,600
638
17,021

x After allowing for other income received.
y After allowing for net revenue from outside operations and for other
income.

STREET RAILWAY AND TRACTION COMPANIES.
Latest Gross Earnings.

58,749

Name of
Road.

4,000
3,197
1,953
68,370
9,235
1,632
4,412
32,615
19,598
139,000
1,000
8,907
18
10,46888
21,984

9,883
424

74,341

10,920,086 9,931,209 1,010,372
988,877

Total (33 roads)
Net increase (9.96%)

21,495

Pa' For the second week of August our final statement covers
46 roads and shows 9.10% increase in the aggregate over the
same week last year.
Second Week of August.

1909..

Previously reported (29 roads)_ 10,269,564
64,572
Alabama Great Southern
43,079
Atlanta Birmingham & Atlantic
154,247
Chicago Great Western
123,554
Chicago Indianapolis & Louisv_
148,657
Cincinnati New On & Texas Pac
32,715
Detroit Toledo & Ironton
38,861
Ann Arbor
72,309
Duluth South Shore & Atlantic..
34,064
Georgia Southern & Florida_
34,987
Kansas City Mexico & Orient
17,049
Mineral Range
240,161
Minneapolis St Paul & S S M
155,695
Chicago Division
28,104
Mobile Jackson & Kansas City_
10,825
Nevada-California-Oregon
18,375
Texas Central
78,946
Toledo St Louis & Western_
Total (46 roads)
Net increase (9.10%)

1908.

Increase. Decrease.
--$
9,375,540 945,411
51,387
66,083
1,511
31,410
11,669
168,844
14,597
14,140
109,414
142,900
5,757
34,566
1,851
41,921
3,060
53,372
18,937
33,469
595
21,279
13,708
15,837
1,212
217,690
22,471
144,912
10,783
4,166
23,938
1,962
8,863
21,266
2,891
89,470
10,524

11,565,764 10,600,774 1,050,811
964,990

85,821

-The table fogNet Mornings Monthly to Latest Dates.
lowing shows the gross and net earnings of saT104 railroads
and of industrial companies reported this week:
-Gross Earnings- -NetEarnings
Previous
Current
Current
Previous
Year.
Year.
Year.
Year.
Roads.
Atch Top & Santa Fe_b_July 7,730,596 6,985,401
Buffalo Gas Co
Jan 1 to July 31
653,572
796,585
Roch & Pitts_b_July
Buffalo
728,500
Canadian' Northern_ _ _ _July 843,500
931,262
Central of Georgla_a__ _ _July 872,938
500,094
520,923
Cumberl'd Tel & Tel_ b_July
3,701,756 3,557,074
Jan 1 to July 31
104,603
102,525
Detroit & Mackinac_a__July
Genesee & Wyoming_b31,729
29,347
Apr 1 to June 30
46,615
44,368
Jan 1 to June 30
91,859
103,912
July 1 to June 30
231,712
252,739
July
Iowa Central_a
July 2,754,398 2,526,451
Lehigh Valley_ b
31,69329,529
Maryland & Penna _a_ _ _July
313,014
366,760
Minneap & St Louls_a July
June 3,756,531 3,307,130
Missouri Pacific_ b
46,385,541 44,238,702
July 1 to June 30
N Y Chic & St Louls_b2,414,183 2,093,238
Apr 1 to June 30
4,671,472 4,509,017
Jan 1 to June 30
9,383,909 9,673,284
July 1 to June 30
Pitts Cinc Chic & St L_a_July 2,439,388 2,227,904
16,081,147 14,452,447
Jan 1 to July 31
02,573
102,118
Virginia & Southw_ b_ _ _July
15,843
15,864
Wrightsv & Tennille_b_July

j2,714,574 j2,628,915
149,679
347,577
229,600
178,999
218,800
1,583,227
26,581

132,364
203,228
202,900
241,921
216,621
1,515,404
38,568

17,397
14,753
20,826
15,000
37,998
33,005
331,162
348,569
1,073,025
877,196
9673
,
6,765
121,914
91,276
846,994 1,308,27
12,459,029 12,592.414
735,165 1,151952:158421
1,263,290
2,894,185 3,067,902
696,340
677,146
3,.780,933 3,713,285
35,275
34,671
z1,439
z2,077

a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
h For July 1909 additlonal income is given as showing a deficit of $2,115
against $3,397 credit in 1908.
.1 The company now includes the earnings of the Denver Enid & Gulf RR.
Pecos Valley system and Santa Fe Prescott & Phoenix Ry. In both years.
For July taxes and rentals amounted to $278,412, against $306,321 in
1908; after deducting which, net for July 1909 was $2,436,162, against
$2,322,593 last year.
k For July 1909 additional income was $15.035, against 812,780 in 1908.
z Includes $144 other Income for July 1909, against $31 in 1908; the
earnings of the Dublin & Southwestern RR. are included in both years.

Interest Charges and Surplus.
- -Bal. of Net E'ngs.-Int., Rentals, &,c.
Previous
Current
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
$
37,347
41,177
177,623
179,274
Cumberl'd Tel & Tel Co_July
259,368 1,286,228 1,256,036
296,999
Jan 1 to July 31
Roads.




-Int., Rentals, &c.- -Bal. of Net E'ngs.Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
$
Genesee & Wyoming.
7,488
6,970
x44,909
Apr 1 to June 30
7,783
14,458
14,070
x41,368
930
Jan 1 to June 30
28,398
27,920
July 1 to June 30
x44,600
5,085
July
3,959
3,979
5.714
Maryland & Penna
2,786
.
N Y Chicago & St Louis354,967 9337,641
381,098
y158,926
Apr 1 to June 30
y488,703
736,175
663,995
y321,301
Jan 1 to June 30
1,524,768 1,602,616 y1,198,311 y1,195,697
July 1 to June 30
Roads.

Week or
Month.

Jan. 1 to latest date.

Current Previous
Year.
Year.

290,669 271,613
American Rys Co__ _ July
167,614 148,748
cAur Elgin & Chic Ry July
28,823 26,638
Binghamton St Ry_ _ May
183,186 170,261
Birm By Lt & Power July
10,643
12,088
Brockton & Ply St By May
10,429
11,445
Camaguey Co
July
18,570 19,959
Cape Breton Elec
June
87,257 64,823
Central Penn Trac_ _ _ June
71,112 68,988
Chariest Con Ry GecE July
Chicago Railways Co_ May
1055,160 902,482
28,050
Cleve Painesv & East June
30,771
Dallas Electric Corp_ June
103,593 88,500
Detroit United Ry__ _ 2d wk Aug 169,896 147,351
Duluth Street Ry__ _ July
91,658 81,568
East St Louis & Sub_ Juno
164,888 166,729
El Paso Electric
June
47,075 41,995
Fair & Clarksb Tr Co_ June
33,459
38,131
Ft Wayne & Wabash
Valley Traction Co June
115,981 110,034
Galv-Hous Elec Co June
105,803 92,442
Grand Rapids By Co_ June
91,784 85,324
Havana Electric Ry_ Wk Aug 22 39,458 35,380
Honolulu Rapid Tran
& Land Co
34,689 31,637
June
Houghton Co Trac Co June
27,538 23,343
Illinois Traction Co_ _ June
341,192 324,272
35,882
Jacksonville Elec Co.. June
38,391
542,376 492,472
Kansas City By & Lt April
33,247 30,148
Kansas City-Western May
46,522
47,131
Knoxville Ry & Lt Co March _ _ _ _
95,825 90,662
Lake Shore Elec Ry_ June
51,373 54,143
Lex & Inter Rys Co_ _ June
Little Rk Ry & El Co March _ _
56,589 56,552
Memphis Street Ry_ _ March _ _ _ _ 133,151 128,857
Milw Elec Ry & Lt Co June
346,138 323,937
Milw Lt Ht & Trac Co June
82,966 79,739
71,552
Montreal Street Ry_ _ Wk Aug 21
76,464
Nashville Ry & Light June
143,844 130,191
North Ohio Tr & Lt_ _ July
227,012 200,392
North Texas Elec Co_ June
90,550
103,308
Northwestern Elev_ _ July
160,434 154,167
Norf & Portsm Tr Co June
164,511 (1164,527
Oklahoma City Ry_ _ July
26,781
41,468
Paducah Tr & Lt Co_ June
18,496
18,101
Pensacola Electric Co June
19,020
20,126
Porti'd(Or)RyL&PCo July
424,815 384,170
Rio de Janeiro Tram
Light & Power.. _ _ _ June
625,793 575,903
St Joseph (Mo) Ry Lt
Heat & Power Co_ _ July
85,392 80,739
Sao Paulo Tr Lt & P_ June
184,778 180,606
Savannah Electric Co June
50,006
52,134
Seattle Electric Co_ _ June
522,470 358,207
Sou Wisconsin By Co July
15,404
15,512
Tampa Electric Co__ June
46,639 45,070
Toledo Rys & Light_ July
226,564 199,237
Toronto Railway_ _ Wk Aug 21
72,251
66,228
Twin City Rap Tran_ 2d wk Aug 142,117 126,282
Underground El By
of London
£9,850
Three tube lines.._ _ Wk Aug 14
£9,865
18,058
£8,217
Metropolitan Dist _ Wk Aug 14
2.8,171
£8,040
United Tramways_ Wk Aug 14
948,240 898,210
United Rys of St L_ _ July
597,484 551,193
United RRs of San Fr June
174,858
179,625
Virginia Ry & Pow Co June
26,128
30,605
Whatcom Co By & Lt Juno
C These figures are for consolidated company.
the Norfolk County Ferries.

Current
Year.

Previous
Year.

1,661,702 1,596,48/
845,567
766,633
129,703
115,506
1.276,482 1,232,307
42,579
38,980
76,085
63,944
104,511
115,546
358,107
335,141
441,603
442,968
4,855,011
136,429
129,944
622,444
532,375
4,712,238 4,219,372
544,149
493,418
957,216
977,996
283,565
260,471
191,149
174,619
648,655
615,201
572,726
505,782
479,809
437,665
1,316,443 1,230,037
197,884
150,116
2,054,218
234,130
2,130,778
135,215
139,215
474,676
266,513
171,030
379,712
2,015,853
385,978
2,435,312
826,414
1,200,954
586,656
1,191,788
923,527
228,194
108,647
116,735
2,697,593

182,876
121,313
1,913,517
210,633
1,941,652
126,153
128,017
453,034
269,048
163,509
360,264
1,860,506
360,471
2,311,422
754,343
1,038,136.
400,873
1,094,449
d875,62
148,384
112,727
96,767
2,482,966

3,635,879 3,339,915
543,997
1,188,170
292,552
2,004,774
92,883
293,505
1,528,054
2,321,775
4,168,924

493,796.
1,142,405
282,394
2,167,962
88,994
271,958
1,429,612
2,134,476
3,840,755

£409,270 £370,895
£316,658 £286,676.
£195,530 £215,738
6,339,810 6,061,765.
3,568,904 3,341,453
1,014,195
956,395
189,029
173,249.

d Includes earnings of

-In the following we show
Street Railway Net Earnings.
both the gross and the net earnings to latest dates of all
STREET railways from which we have been able to procure
monthly returns. The returns of the different roads are published by us each week as soon as received, and once a month
we bring together all the roads reporting, as is done to-day.
Roads.

-Gross Earnings- --Net Earnings
Previous
Current
Current
Previous
Year.
Year.
Year.
Year.

Auburn & Syracuse_ b
96,602
106,116
46,560
42,229
Apr 1 to June 30
167,343
188,064
68,515
62,123
Jan 1 to June 30
148,748
89,719
76,540
_July 167,614
Aurora Elgin & Chic_
26,638
28,823
11,041
12,203
Binghamton Street Ry__May
115,506
129,703
52,820
44,302
Jan 1 to May 31
170,261
183,186
81,212
70,486
Birm'ham Ry Lt & P_a-JulY
1,276,482 1,232,307
564,602
Jan 1 to July 31
517,355
10,643
12,088
4,165
2,424
Brockton & Plymouth_ .May
38,980
42,579
3,565
9,922
Jan 1 to May 31
10,429
11,445
4,277
5,343
July
Camaguey Co
63,944
76,085
35,233
30,256
Jan 1 to July 31
19,959
18,570
8,395
6,361
Cape Breton Electric Co.June
115,546
104,511
45,064
34,629
Jan 1 to June 30
64,823
67,257
18,146
_June
15,679
Central Penn Trac Co_ _
335,141
358,107
61,620
85,752
Jan 1 to June 30
68,988
71,112
27,976
26,924
Charleston Cons Ry_a_ _July
323,169
322,934
120,410
125,214
Mch 1 to July 31
902,482
302,130
345,416
May 1,055,160
Chicago Rys Co_a
4,855,011
-----1,615,158
Jan 1 to May 31
12,183
28,050
30.771
16,550
Cloy Palnesy & East_a_June
136,429
129,944
57,189
64,675
Jan 1 to June 30
16,846
88,500
103,593
35,883
Dallas Electric Corp__ _June
154,661
532,375
622,444
225,270
Jan 1 to Ju,ne 30...
,..__ c261,578
679,447
771,453
c305,134
July
Detroit United
4,410,511 3,964,875 c1,692,833 c1,436,699
Jan 1 to July 31
37,039
81,568
91,658
44,422
Duluth Street Ry_b____July
185,042
493,418
544,149
217,640
Jan 1 to July 31

-Net Earnings
-Gross Earnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
Roads.
East St Louis & Sub_b_June 164,888
957,216
Jan 1 to June 30
47,075
El Paso Electric Co___ _June
283,565
Jan 1 to June 30
38,131
Fairm de Clarks TrCo b_June
191,149
Jan 1 to June 30
115,981
FtWayne&WabV Tr Co.June
648,655
Jan 1 to June 30
105,803
Galv-Hous Electric Co_June
572,726
Jan 1 to June 30
91,764
Grand Rapids Ry Co_b_June
479,809
Jan 1 to June 30
34,689
Honolulu R T & L Co_b.June
197,684
Jan 1 to June 30
27,538
Houghton Co Trac Co_ _June
150,116
Jan 1 to June 30
Illinois Traction Co_a__June 341,192
2,054,218
Jan 1 to June 30
38,391
Jacksonville Elec Co_ _ _June
234,130
Jan 1 to June 30
33,247
Ry_a_May
Kan City-West'n
318,142
July 1 to May 31
95,825
Lake Shore Eke Ry_a__June
474,676
Jan 1 to June 30
51,373
Lexington & Interurb__June
266,512
Jan 1 to June 30
Milw Elec Ry & LtCo_b.June 346,138
2,015,853
Jan 1 to Juno 30
82,966
Milw Lt, Ht Se Tr Co_b_June
385,978
Jan 1 to June 30
July 345,573
Montreal Street Ry
3,137.547
Oct 1 to July 31
143,644
Nashville By & Lt Co-a _June
826,414
Jan 1 to June 30
New York State Rys_b766,026
Apr 1 to June 30
164,511
Norfolk & Portsmouth_June
923,527
Jan 1 to June 30
227,012
Nor Ohio Tr & Lt Co_ _ _July
1,200,954
Jan 1 to July 31
North Texas Elec Co.._ _June
103,308
Jan 1 to June 30
586,656
Oklahoma City Ry
41,468
July
Jan 1 to July 31
228,194
Oneonta Sz Mohawk Val_bApr 1 to June 30
46,172
Paducah Tr & Lt Co__ _June
18,101
108.647
Jan 1 to June 30
20,126
Pensacola Electric Co_ _June
116,735
Jan 1 to June 30
Porti'd (Or) Ry Lt&P..b July 424,815
2,697,593
Jan 1 to July 31
31,870
Apr
Porto Rico Rys Co
128,967
Jan 1 to Apr 30
R de Jan Tr, L&P Co_a_June 625,793
3,635,879
Jan 1 to Juno 30
85,302
St Jo(Mo)RyLtHt&P b July
543,997
Jan 1 to July 31
184,778
Sao Paulo Tr,L & P Co_June
1,188,170
Jan 1 to June 30
52,134
Savannah Electric Co_ _June
292.552
Jan 1 to June 30
June
522,470
Seattle Electric Co
2,604,774
Jan 1 to June 30
June
46,639
Tampa Electric Co
293,505
Jan 1 to June 30
Toledo Rys & Lt Co_ b__July 226,564
1,528,052
Jan 1 to July 31
593,101
Twin City Rap Tr Co_b_June
3,250,066
Jan 1 to June 30
948,240
United Rys of St L_a__ _July
6,339,810
Jan 1 to July 31
597,484
of San Fr.b.June
United RRs
3,568,904
Jan 1 to June 30
179,625
Virginia By & PowerCo_June
1,014,195
Jan 1 to June 30
30,605
Whatcom Co By & Lt_ _June
189,029
Jan 1 to June 30
Warren & Jamestown_b21,030
Apr 1 to June 30
36,458
Jan 1 to June 30

166,729
977,996
41,995
260,471
33,459
174,619
110,034
615,201
92,442
505,782
85,324
437,065
31,637
182,876
23,343
121,313
324,272
1,913,517
35,882
210,633
30,148
299,967
90,662
453,034
54,143
269,048
323,937
1,860,506
79,739
360,471
326,524
2,999,288
130,191
754,343

76,747
71,283
462,645
409,860
11,599
19,375
75,028
110,729
21,761
25,185
103,798
114,263
44,592
45,293
254,607
257,820
37,207
47,997
198,899
229,479
42,535
48,926
202,676
246,050
13,664
17,319
77,583
93,850
10,561
14,355
46,655
62,734
136,013
126,885
774,924
816,703
12,005
16,944
77,787
96,683
12,253
13,448
111,400
118,090
39,100
47,041
173,667
196,301
19,624
13,186
77,387
64,354
161,182
181,668
855,741
1,001,292
48,323
50,234
184,103
206,408
164,110
165,161
1,242,732 1,184,860
68,585
76,276
359,485
414,840

d164,527
d875,620
200,392
1,038,136
90,550
490,873
26,781
148,384

267,052
67,242
376,037
111,361
531,938
46,280
252,157
16,811
82,226

66,904
328,085
95,015
415,101
24,499
188,513
5,882
43,204

46,291
18,496
112,727
19,020
96,767
384,170
2,482,966
28,807
117,493
575,903
3,339,915
80,739
493,796
180,606
1,142,408
50,006
282.394
358,207
2,167,962
45,070
271,958
199,237
1,429,610
553,501
2,982,849
898,210
6,061,765
551,193
3.341,453
174,858
956,396
26,128
173,249

def 376
7,488
42,302
8,834
49,809
229,674
1,430,027
15,020
61,468
258,694
1,395,831
41,626
254,443
106,827
751,936
18,748
106,035
209,456
1,013,098
18,165
121,730
92,343
643,647
332,220
1,627,584
350,731
2,311,108
252,684
1,483,572
70,419
433,484
12,566
77,837

1,356
6,273
' 43,547
5,000
21,442
192,356
1,233,227
12,498
51,542
206,648
1,206,706
41,952
230,893
113,000
737,890
19,508
83,083
155,332
861,068
'13,231
87,192
87,572
635,557
283,482
1,447,259
319,682
2,115,740
204,156
1,132,336
49,706
307,910
9,267
74,429

20,965
37,379

12,200
17,665

10,891
17,275

a Net earnings here given arc after deducting taxes.
b Net earnings here given arc before deducting taxes.
C Taxes for 1908 are included in the expenses but for 1909 they are in
fixed charges.
d Includes the gross earnings of the Norfolk County Ferries, lease for
which expired April 1 1909.

Interest Charges and Surplus.
Roads.

-Int., Rentals, cfeC.- -Bal. of Net E'ngs.Previous
Current
Previous
Current
Year.
Year.
Year.
Year.

Auburn & Syracuse
20,474
Apr 1 to June 3024,708
47,819
46,069
Jan 1 to June 30
27,778
Aurora Elgin& Chic__ _ _July
28,899
7,284
Binghamton Street Ry_ May
8935
40,495
Jan 1 to May 31
45,403
1,7162,343
Brockton & PlymouthMay
11,747
Jan 1 to May 31
9,697
4,795
5,029
Cape Breton Electric Co.June
30,224
30,942
Jan 1 to June 30
13,91713,817
Charleston Cons Ry____July
69,083
69,583
Mch 1 to July 31
8,224
9,044
Ciev Painesv & East__ _ _June
48,052
June 30
50,169
Jan 1 to
29,431
28,833
Dallas Electric Corp_ __June
177,907
173,034
Jan 1 to Juno 30
July
135,978
162,050
Detroit United
948,951
1,088,384
Jan 1 to July 31
July
18,41718,417
Duluth Street By
128,917
128,917
Jan 1 to July 31
49,917
49,521
East St Louis & Sub__ _June
297,040
297,371
Jan I to June 30
7,9437,415
El Paso Electric Co_ _ _ _June
43,094
47,469
Jan 1 to June 30
11,486
12,310
_
Fairm & Clarksb Tr CoJune
68,944
73,874
Jan 1 to Juno 30
21,018
21,419
Galv-Hous Electric Co_June
122,724
129,269
Jan 1 to June 30




525

THE CHRONICLE

AUG. 28 1909.1

26,086
17,431
22.416.
14.304
60,820
48,762
2,106
4,919
7,417
3,807
2,129
81
81
5
def8,182
1,332
3,600
' 3,687
14,840
13,007
14,150
55,631
51,327
7,506
3,959
14,506
9,137
7,050 def.12,585
52,236 def.23,246
x155,754
x132,062
x688,198
x522,819
26,005
18,622
88,723
56,125
21,762
26,830
112.489
165,605
11,432
63,260
31:41
x16,866
z13,134
x61,533
x49,429
26,578
18,189
100,210
76,175

-Int., Rentals, dec.- -Bal. of Net E'ngs.Current
Previous
Previous
Current
Year.
Year.
Year.
Year.
$
$
$
23,827
29,789
18,708
19,137
Grand Rapids Ry Co__ _June
92,604
132,339
110,072
Jan 1 to June 30
113,711
x8,371
x11,816
6,123
6,143
Honolulu R T & L Co...June
x44,575
36,966
x60,716
36,857
Jan 1 to June 30
5,938
8,114
4,623
6,241
Houghton Co Trac Co_ _June
18,246
27,620
28,409
35,114
Jan 1 to June 30
2,731
7,656
9,274
9,288
Jacksonville Elec Co_ _ _June
21,758
40,430
56,029
Jan 1 to June 30
56,253
5,426
6,677
6,858
6,875
Kan City-Western Ry__May
37,331
43,318
74,463
75,567
July 1 to May 31
7,832
12,563
31,268
Lake Shore Elec Ry____June
34,478
186,568 def.10,349 def.12,901
Jan 1 to June 30
206,650
x52,104
x79,496
115,330
Milw Elec Ry& Lt CO.. June
106,445
x293,937
x399,900
591,717
Jan 1 to June 30
624,045
x36,469
x29,378
59,392
65,899
Milw Lt, Ht & Tr Co..__June
x106,665 x110,768
346,094
Jan 1 to June 30
370,296
114,765
115,277
49,345
Montreal St Ry
July
49,884
815,951
882,957
368,909
Oct 1 to July 31
359,775
New York State Rysx204,551
Apr 1 to June 30
143,290
50,963
67,970
Northern Ohio Tr & Lt_July
44,052
43,391
107,151
225,227
Jan 1 to July 31
307,950
306,711
5,308
North Texas Elec Co_ __June
29,091
19,191
17,189
94,940
93,573
149,042
103,115
Jan 1 to June 30
Oneonta & Mohawk Valley
Apr 1 to June 30
10,893 xdefl 1,256 zdef9,506
10,893
6,632
def.575
856
6,848
Paducah Trac & Lt Co_June
1,548
41,999
41,833
469
Jan 1 to June 30
685
4,315
4,263
4,571
Pensacola Electric Co__June
25,240
2 3,773 def.3,798
26,036
Jan 1 to June 30
123,391
78,515
106,283
113,841
PortI'd (Or) By Lt & P_July
423,190
572,598
810,037
857,429
Jan 1. to July 31
20,666
21,286
19,990
21,636
St Jo(Mo) RyLtHt&P__July
87,556
106,180
143,337
148,263
Jan 1 to July 31
2,185
1,405
17,323
- 17,343
Savannah Electric CoJune
1,441 def.18,749
101,832
104,594
Jan 1 to June 30
61,637
93,695
104,363
105,093
June
Seattle Electric Co
343,054
404,680
518,014
608,368
Jan 1 to June 30
10,660
13,457
2.571
4,708
June
Tampa Electric Co
73,527
93,708
13,665
28,022
Jan 1 to June 30
71,751
x15,912
x17,104
75,506
Toledo Rys & Lt Co_ ___July
491,887
x143,936 z146,543
501,074
Jan 1 to July 31
155,232
191,969
128,250
140,251
Twin City Rap Tran Co_June
697,831
799.826
749.428.
827,758
Jan 1 to June 30
86,830
118,282
232,852
July
232,449
United Rys of St L
487,339
674,028
1,637,080 1,628,401
Jan 1 to July 31
1,297
4,481
7,970
8,085
Whatcom Co Ry & Lt_ _June
26,560
47,869
27,741
50,096
Jan 1 to June 30
Warren Se Jamestown
3,835
7,025
7,056
5,265
Apr 1 to June 30
12,903
4,372
6,962
10.703
Jan 1 to June 30
Roads.

z After allowing for other income received.

ANNUAL REPORTS.
-The following is an index to all annual
Annual Reports.
reports of'steam railroads, street railways and miscellaneous
companies which have been published since July 31.
This index, which is given monthly, does not include
reports in to-day's "Chronicle."
Page.
RailroadsBangor & Aroostook (preliminary
347
statement)
Boston&Maine (prelim.statem't) 408
Buffalo Roch. & Pittsb____407, 417
Canadian Pacific (prelim. state't) 407
467
Central of Georgia
Ches. & Ohio (prelim. statem't) _282
Detroit Mackinack & Marquette
345
RR Land Grant Bonds
Duluth South Shore & Atlantic
410
(preliminary statement)
Hocking Valley (prelim. statem't)408
Kanawha & Michigan (prelimi411
nary statement)
Louisville & Nashville (prelimi467
nary statement)
Missouri Kansas & Texas (pre408
liminary statement)
Nashville Chattanooga & St.Louls
408
(preliminary statement)
New York Ontario & Western
408
(preliminary statement)
Norfolk & Western (preliminary
408
(statement)
Rio Grande Southern (preliminary
412
statement)
St. Louis Southwestern (prelimi408
nary statement)
Electric Railways
Hallway & Light Securities Co..
345
Boston
Industrials
Alaska Packers' Assn., San Fran_347
Amalgamated Copper Co. (operations of subsidiary companies) 282
346
American Cement Co. of N. J
Amer. Pelt Co.(bal. sh. Jan. 1'09)408
American Oak Leather Co. (bal347
ance sheet Jan. 1 1909)

Industrials (Continued)
Amer. Pneum. Service Co., Bost_408
British Columbia Packers' Assn.,
468
Vancouver, B. C
British Westinghouse Electric &
283
Mfg. Co., Ltd
282
Calumet & Hecia Mining Co
Canadian Westinghouse Co.,Ltd_283
A09
Canton Company. Baltimore_
Cleve. & Sandusky Brewing Co 345
Consolidated Cotton Duck, Balt_467
Creamery Package Co. (balance
sheet Nov. 30 1908 and 1907L..284
Electrical Securities Corporation,
346, 409
New York
346
Galveston (Tex.) Wharf Co
346
Kansas City Breweries Co
468
Keystone Telephone Co
415
Lake Superior Corporation
Lindsay Light Co. (balance sheet
347
Dec. 1 1908)
467
Mahoning Investment Co
Manufacturers' Light & Heat Co.
290
(6 months)
Massachusetts Breweries Co.(Va.)
(balance sheet March 1 1909) 346
468
Massillon Coal Mining Co
344
Montreal Water & Power Co_
Nat. Enameling & Stamping Co_467
284
Oklahoma Natural Gas Co
476
Republic Iron & Steel Co
Societe AnonYme Westinghouse..284
345
Texas Pacific Land Trust Co
Toronto (Ont.) Elec. Lt. Co., Ltd.344
467
United States Envelope Co
283
United States Gypsum Co
United States Steel Corporation
282
(3 and 6 months)
415
Victor Fuel Co

Chesapeake & Ohio Railway.
(Report for Fiscal Year ending Jane 30 1909.)
The remarks of President Stevens at length, together with
the balance sheet and income account in detail, are published
on subsequent pages.
The statistical tables for four years, compiled in the usual
complete form for the "Chronicle," are given below:
OPERATIONS AND FISCAL RESULTS.
1906-07.
1907-08,
1908-09.
1,841
1,832
1,897
Miles operated June 30_ _
Equipment
Locomotives(owned and
670
670
672
leased)
301
300
306
Passenger cars
17,657
17,377
17,334
Freight cars
732
668
659
& equip._
Maint. of way
(Also has passenger steamers, tugs, car-floats, &c.)

1905-06
1,827
600
270
17,465
654

THE CHRONICLE

526

1907-08.
1908-09.
1906-07.
Operattons1905-06.
5,150,108
5,097,237
Passengers carried
4,269,360
3,710,818
Pass. carried 1 mile_ __ _217,694,091 286,729,837 226,660,932 198,469,304
1.786 cts.
2.157 cts.
Rate per pass. per mile_ 2.059 cts.
2.138 cts.
18,511,362 16,540,833 16,866,865 16,366,880
Freight (tons) carried
Freight (tons) car'd 1 m_5095552874 4525313214 4617608676 4619480470
0.432 cts.
0.433 cts.
Rate per ton per mile.. _ _ 0.410 cts.
0.420 cts.
621
675
Av.rev, train load (tons)
596
586
Earn, per pass. train m.,
$1 17
excl. mall & express__
$1 26
$1 18
$1 17
$2 76
52 58
Earns, per fr't train m__
$2 68
52 46
Earns. per mile of road_
$13375
$13417
$13606
$13,178
Revenues$
$
$
$
Freight
20,885,511 19,571,609 19,979,861 19,395,648
Passenger
5,120,529
4,482,004
4,888,139
4,242,556
Mail
388,453
416,554
395,714
423,088
Express
407,575
385,104
407,976
339,720
Other transporta'n rev
343,673
219,3571
132,203
201,976
Non-transport'n rev_ __ _
124,503
128,0871
Total revenues
26,630,718
ExpensesMaint. of way & struc_ _ 3,101,151
Maint. of equipment__ _ 4,938,938
Traffic
466,042
Transportation
7,328,683
General
532,024

25,843,272

25,796,861

24,602,988

3,135,354
5,369,464
470,957
7,770,757
440,215

3,090,037
4,721,346
482,444
7,955,064
401,416

2,649,557
4,469,590
434,755
6,959,355
356,391

Total expenses
P.c. expenses to earns
Net revenues

17,186,747
(66.5)
8,656,525

16,650,307
(64.5)
9,146,554

14,869,649
(60.4)
9,733,339

16,366,838
(61.5)
10,263,880

INCOME ACCOUNT.

Net revenues
Other income

1908-09.
$
10,263,880
• 708,863

1907-08.
$
8,656,525
762,832

1906-07.
$
9,146,554
244,360

1905-06
$
9,733,333
a204,353

Lxxxix.

-Operations, earnings, balance sheet, &c., were:
Earnings.
OPERATIONS AND FISCAL RESULTS.
1907-08.
1908-09.
1906-07.
1905-06.
Average miles operated..
1,913.
1,916
1,878
1,899
Operations (revenue traffic only)
4,024,615
3,842,326
3,636,365
3,911,114
Passengers carried
Pass. carried one m110_127,809,219 127,512,226 121,753,377 112,175,658
2.419 cts.
2.250 cts.
2.455 cts.
Rate per pass. per mile_ 2.147 cts.
4,700,841
4,675,596
5,210,091
Rev. fgt. (tons) carried.. 4,555,124
Rev.fgt.(tons) carr. 1 m.688,462,146 703,414,232 780,248,231 701,066,873
1.104 cts.
1.048 cts.
1.072 cts.
Rate per ton per mile_ _ _ 1.079 cts.
218
212
237
257
Av. rev. (train-load)tons
$2.2419
$2.5807
$2.4393
$2.8320
Earn, per fgt. train mile.
$0.9237
$0.9333
$0.9378
$0.8788
Earn, per pass. train m_
$6,068.77
$6,362.51
$5,987.65
Earn, per mile of road
$5,861.28
GENERAL BALANCE SHEET JUNE 30.
•
1906.
1907.
1908.
1909.
5
$
Assets$
$
Road and equipment_ _ _ _56,479,614 56,235,309 55,389,614 55,157,794
2,429,765
9,570,528
3,871,247
Equipment trusts
3,176,617
Bonds pledged under
650,000
650,000
short-term notes
650,000
479,572
1,030,219
504,235
Investments
516,719
698,096
565,717
Materials and supplies_ _ _
591,988
648,673
116,519
571,093
188,999
Deferred assets
240,764
Fund with trustee for
completion
of line,
317,416
Greenville to Newnan
711,758
1,211,182
396,621
Cash on hand
436,625
95,989
105,309
133,356
Cash in transit
135,399
152,505
126,589
91,659
Due from agents
65,390
540,191
476,205
Individuals & companies 687,663
482,555
294,516
175,096
454,365
Empire Land Co
587,564
65,666
66,091
66,837
Due from U. S. Gov't
48,950
163,233
87,049
Traffic balances
89,989
55,689
84,386
210,816
Notes receivable
103,886
38,086
Profit and loss
3,498

Total
63,787,754 63,764,544 64,467,573 62,075,343
Liabilities
5,000,000
5,000,000
Capital stock
5,000,000
5,000,000
Funded debt
51,653,000 51,413,000 50,473,000 50,033,000
650,000
Short-term notes
650,000
650,000
352,698
355,965
Interest on funded debt_
364,998
363,398
164,529
233,651
Taxes
213,290
211,867
333,791
Vouchers audited
554,433
369,000
299,998
350,724
394,106
Pay checks
331,601
348,306
134,766
Interest due and unpaid_
182,191
338,628
364,721
324,667
Reserve fund
40,318
344,623
98,242
Tunnel Coal Co
4,654
Greenville & Newnan fly.
261,490
804,362
Improvement fund
461,526
129,941
159,535
Refund of over-charges on
8,921,809
Total
9,329,843
9,453,279
8,511,116
lumber under U.S. SuSurplus
1,519,464
497,553
61,071
1,426,576
preme Court decision....
150,000
150,000
134,154
2,429,765
4,570,528
Equip. trust obligations.. 3,176,617
3,871,248
BALANCE SHEET JUNE 30
389,441
430,747
Miscellaneous
434,252
544,813
1,397,867
997,771
Profit and loss
487,495
487,495
1907.
1908.
1909.
1906.
•
--Assets$
$
$
$
Total
63,767,759 63,764,549 64,967,573 62,075,343
Roads and equip., &c155,564,192 152,712,645 128,030,257 122,520,675
-V. 89. p. 469, 467, 162.
Ches. & Ohio fly, of Ky.
(including stocks and
Brooklyn Rapid Transit Company.
bonds of morged lines
23,552,185 23,168,367
and advances)
(Report for Fiscal Year ended June 30 1909.)
6,675,549
x Bonds & stocks owned 5,910,299 16,601,049
5,524,124
The remarks of President Winter will be found on subse1,022,967
1,135,049
Advances
1,262,787
662,687
Construe & equip. acc't
198,606 quent pages.
203,708
Constr'n fund unexp'ri'd
554,095
848,469
A comparative statement of the Brooklyn Rapid Transit
Value of new equip., less
charged to oper. exp.
system for the years ending June 30 is as follows:
12,410,000 14,420,000 16,572,640
and capital account
9,824,667
CONSOLIDATED INCOME ACCOUNT.
556,413
2,197,712
3,894,002
Cash on band
1,286,299
1907-08.
1905-06.
1906-07.
426.371 , 254,723
608,710
Cash for int. & divs_
1908-09.
237,659
Receipts$
$
Spec. dep. to red'm coll.
$
$
Passengers
notes pd. July 1 1909_ 6,615,000
19,058,693 18,930,164 18,443,983 17,586,722
Freight, mall, &c
315,719
309,555
349,539
Spec. dep. to red'm Ser.
254,643
Advertising
155,205
145,807
A & B bds. pd. July 1
155,860
148,424
2,043,488
16,785
431,244
969,479
American fly. Traffic Co_
1908
225,266
439,641
1,684,526
790,600
Agents and conductors.. 1,372,604
101,419
104.997
97,302
125,865
802,456 Rent of track, &e
540,686
700,050
825,049
59,656
Traffic balances
63,837
74,949
68,490
594,310 Rent of land, &c
508,297
684,349
520,472
166,976
Individ'is & companies_
512,568
360,810
942,813 Miscellaneous
425,871
1,841,606
2,239,980
1,588,703
Materials and supplies
857,234
210,430
40,235
280,316
Total
Cash dep. with trust.,&c.
30,300,279 20,548,391 19,936,752 18,797,262
66,148
Expenses
191,423,015193,427,931 182,226,582 167,534.507 Mahn. of way & struc_
815,147
Total assets
860,075
1,020,104
1,194,014
1,642,799
Maint. of equipment_ _
1,786,731
1,837,550
1,690,916
1,609,534
1,655,400
1,653,728
1,596,759
62,790,700 62,790,700 62,790,700 62,790,700 Operating power plant
Stock,common
3,036,966
3,238,971
14,812,556 J3,369,859
8,400
8,400
8,400
Stock, 1st and 2d pref
8,400 Trainmen's wages
1,214,371
1,554,850
Operation of cars-misc_1
11,609,898
Bonds (see "Railway &
973,104
1,126,248
1,242,361
Industrial" Section)_ _101,819,000 99,768,000 90,051,354 86,680,354 Damage & legal expenses 1,129,396
603,289
643,899
General expenses
651,669
676,666
12,410,000
Bal. due on new equip
14,420,00 16,430,000
9,824,667 Fgt.. mall &
203,962
233,667
190,885
138,645
express exp_
Ser. A. & B. bonds, due
342,205
365,863
363,525
155,703
AM. fly. Traf. Co. exp
16,785
2,013,354
July 1
6% collateral notes__ _ 6,615,000
7,500,000
Total
11,394,655 11,939,570 11,465,705 10,441,377
1,156,918
1,234,297
1,199,145
Interest accrued
1,093,480
8,471,047
8,355,886
8,608,812
8,905,625
Net
559,663
452,378
250,813
Unpaid coupons
233,940 Taxes earnings
882,862
893,782
930,008
1,337,620
Railways and unpaid
5,132,609
4,730,072
5,604,931
5,631,395
Fixed charges (net)
2,955,096
5,944,986
1,831,857
vouchers, &c
2,488,616 Special
442,063
229,781
580,343
65,430
approp'ns dc misc.
1,549,422
52,150
4,102,516
Loans & bills payable
2,045.000 Dividends, 2%
897,076
813,175
366,565
Equip. replacem't acc'ts
353,273
318,047
279,856
Taxes accrued
231,052
6,468,449
6,764,720
6,193,277
7,931,521
Total
181,563
Miscellaneous
603,584
2,002,598
1,844,092
3,162,609
974,103
1,873,855
987,248
Profit and loss
1,174,910
1,534,714 Balance, surplus
BALANCE SHEET JUNE 30.
CONSOLIDATED
1908.
1909.
1907.
191,423,015 193,427,931 182,226,582 167,534,507
Total liabilities
$
$
$
Assets123,234,569 120,753,016 114,638,830
z Includes Ches. & Ohio gen. mtge. bonds, $91,000; other bonds, $3,- Cost of road, &c
Advances for construction:
028,401. Stocks owned, $2,790,899.-V. 89, p. 282, 40.
9,399,121
8,565,617
7,670,358
Brooklyn City RR Co
1,426,051
1,337,768
Prospect Park & Coney Island RR. 1,501,648
a960,643
Central of Georgia Railway.
2,586,601
Construction exp. constituent cos3,323,501
3,754,920
3,754,920
4,005,755
Guaranty fund
(Report for Fiscal Year ending June 30 1909.)
b13,027,728 10,606,728
Treasury bonds and stock
5,273,728
979,000
Underlying bds. with C.
00
2(
)M
:
rag?
The complete text of the remarks of President J. F. Hanson Due from companies andTr. Co., trus_
590,654
individuals_
139,034
163,463
will be found on subsequent pages of to-day's "Chronicle." Prepaid accounts
121,159
833,339
902,784
Materials and supplies
1,047,490
Comparative tables showing the operating revenues and Cash
1,526,576
2,583,331
965,670
290,046
expenses for two years were given last week on page 467. Miscellaneous
265,183
121,689
Total
9,390,914
9,919,357
10,972.743
9,937,692
Deduct
Interest on bonds
4,234,820
4,456,085
4,168,603
3,976,448
734,423
Taxes
791,060
801,600
569,853
Car trust-int. do prin.... 1,529,947
1,887,833
1,612,346
1,320,100
71,943
Loss on elevator
62.255
59,722
35,297
Loss on steamships.. _
-..60,366
-4:4,81Int. coll. notes & gen.ac't 450,000
-- 2
411,923
54,974
1,347,555
Extraordinary
634,327
212,449
1,534,406
Rentals of leased roads,
360,750
Joint tracks, &c
593,782
626,649
311,765
19,800
Miscellaneous
19,600
61,013
20,000
Dividends
(2%)1,255,819 (1)627,907 (1)627,907 (1)627,907

Comparative operating statistics, balance sheets, &c., are
shown below.
The character of the rails in main track owned and leased
(including 5.76 miles of second track operated) follows:
WEIGHT OF STEEL RAILS (LBS.) IN MAIN
80 70-75 65-68% 6334 61.3i 601.6
1909, miles
691
90 15
190
128 321
1908, miles
15
133 322 101
666
189
1907, miles
596
189
134 326 95 18
1906, miles
504
156
117 394 85 23
1905, miles
481
101
123 401 90 24

TRACK ON JUNE
60 56 Var. Iron.
23 457
3
23 466
3 ___
23 531
3
___ 589
3
8
612
18 29

30.
Total.
1,918
1,918
1,916
1,880
1,880

The changes in equipment during twelve years appear
from the following:
On Hand June 30Passenger-train equipment
Freight-train equipment
Service equipment




1896. 1904. 1905. 1906. 1907. 1908. 1909.
252
253
292
249
211
316
315
230
229
229
223
227
251
1 7,501 8,158 9,462110,343 10,572 10,401
4
1 355
344
1481
339

Total assets
Liabilities
.
C0nita ste ,
Bap dsloe ock
"Street Ry." section)..
Real estate mortgages
Loans and bills payable
Accrued interest and rentals
Accrued taxes
Audited vouchers
Individuals and companies
Miscellaneous
Depreciation reserve fund
Contingent reserve fund
Profit and loss surplus
P

157,133,373 152,618,769 139,732,015

IN

,
99:235 909 94 35 900 45,835,909
45 89 :0 10 45 29 649
:
374,040 85,226,040
:840
4,003:400
700 03
3, 20,000
30
4
,
901, 50
33 500
00
1, 45 072
,0 183
67 :
1,146:176
70 922
1,005, 56
636 433
1
1,161,826
1,441,398
1,408,331
171,231
119009:322523
194,043
189,065
1 42,642
23,191
143,098
_1_712,_256
4,387,230
0
3,853,460
3,735, 06
2 4 14 5

157,133,273 152,618,760 139,732,015
Total liabilities
a Construction expenditures of constituent companies are to be reimbursed by issuance of B. u. T. first gold refunding mortgage 4% bonds upon
deposit with Central Trust Co. of certificates of indebtedness to cover.
b Treasury bonds and stock include: 11. R. T. first refunding gold mortgage 4s, $13,678,000; other issues, $103,500; treasury stock, $146,228.
,
Note.-The certificates of indebtedne . queri by constituent companies.
aggregating 337,518,908 10, against whial B. R. T. bonds have been issued,

AUG. 28 1909.1

THE CHRONICLE

do not appear separately on this consolidated balance sheet, as the property
purchased appears as an asset under the head of "Cost of Road and Equipment," and "Advances Account Construction for Leased Companies," and
the liability is represented by the bonds of the Brooklyn Rapid Transit Co.,
issued from time to time as such certificates of indebtedness are acquired
and deposited with the Central Trust Co., trustee.
-V.88, p. 374.

Interborough Rapid Transit Co., New York.
(Statement for Fiscal Year ending June 30 1909.)
The company in its application to list its bonds on the New
York Stock Exchange (see item on another page) furnishes
a statement of operations for the fiscal year ending June 30
last, which we compare with the results in previous years
as reported to the Public Service Commission.
RESULTS FOR YEARS ENDING JUNE 30.
1907-08.
1906-07.
1908-09.
Total earnings from railway oper___ _$25,775,392 $24,699,505 $22,902,580
Total railway operating expenses__ _ .410,747,443 $10,722,695 $9,593,331
Taxes accrued
1,377,965
1,799,807
1,586,466
$13,228,142 $12,390,344 $11,931,283
579,965
$1,384,644
277,055

Operating income
Other income

Total net income
$14,612,786 $12,970,309 $12,208,338
Interest on funded debt
)$10,010,7501 $1,250,000
$766,667
Rentals
1 8,011,665 7,725,228
Amortization of debt, disc't & exp__
12,213
7,984
Dividends on stock, 9%
3,150,000
3,150,000
3,150,000
Balance, surplus over dividends___ $1,439,823
- 69, p. 286. 103.
V-

$566,444

$550,660

American Agricultural Chemical Co., New York.
(Report for Fiscal Year ending June 30 1909.)
Treasurer Thomas A. Doc, under date of New York,
August 23 1909, says:
Bonds.
-In order to provide additional working capital to meet the
requirements of the company's business, a resolution was adopted at the
last annual meeting of the stockholders, held on Sept. 17 1908, authorizing
an issue of $12,000,000 first mortgage 5% 20-year gold bonds convertible
into preferred stock at par. Under (late of Oct. 1 1908 the company issued
$8,000,000 of these bonds, all of which were sold by public subscription
on the day they were offered. The proceeds have been used in retiring
the entire outstanding bills payable and no money has since been borrowed.
(Compare V. 88, p. 874.)
General Results.
-After deducting all charges for interest, betterments,
and renewals, and setting aside $528,407 as reserve for freights, contingencies, &c., and $260,770 for fire insurance, there remained as net profits
for the year ending June 30 1909 $2,394,498, from which were deducted
two semi-annual dividends on the preferred stock amounting to $1,116,957,
leaving a net balance of $1,277,541 to be added to the surplus.
While our trade has shown a satisfactory increase in tonnage, a still
more favorable feature is the increasing tendency on the part of the more
prosperous farmers to select the higher grades of fertilizers and to use them
in more liberal quantities. The large expenditures in the past for modern
equipment and labor-saving devices have shown substantial results, not
only in economies in Operation, but also in increased facilities. Other
Important improvements and additions have been authorized and are now
In process of installation.
Charged 071.
-The discount on the bonds sold, including all expenses
incurred in connection with their issue, and sundry losses incurred in the
sale or dismantling of various properties since the organization of the
company, amounting in all to $1,178,129, have been charged off and
deducted from the surplus, leaving this item on June 30 1909 $5,231,682.

The income account and balance sheets are shown below:
Profits from
Properties owned
controlled
Other sources

INCOME ACCOUNT.
1908-09,
1907-08.

1906-07.

1905-06.

and
3,018,148
165,527

2,782,275
155,644

2,758,182
177,807

2,388,463
165,224

Total Income
Less general reserve_ __ _
Reserve for fire insur'ce.
Charged off for improvements, betterm'ts, &c

3,183,675
528,407
260,770

2,937,919
393,751

2,935,989
441,745

2,553,687
390,998

387,291

341,623

388,374

Total
Profits
6% on preferred stock

789,177
2,394,498
1,116,957

781,042
2,156,877
1,115,610

783,368
2,152,621
1,095,420

779,372
1,774,315
1,074,090

1,057,201
1,041,267
1,277,541
BALANCE SHEET JUNE 30.
1909.
1908.
Assets$
1 7,925,512f 2,289,483
Real estate
Building and machinery
5,581,714
940,489
Lighters, tugs, tools, &c
991,029
976,591
Charlotte Harbor & N. fly. Investm't 1,152,583
4,283,476
Phosphate properties
3,862,576
Other Investments
871,974
1,261,193
Brands, trade-marks, patents, &c__ _ 16,351,056 10,439,112
1,173,600
Preferred stock in treasury
1,618,000
Common stock in treasury
3,008,700
3,008,700
Accounts receivable
11,044,873
9,490,030
Bills receivable
2,094,924
2,112,777
Merchandise and supplies
4,804,713
5,607,329
Expenditures chargeable to future
operations, unexpired insurance,
taxes, &c
122,222
118,343
Expended for new work not yet
completed
•
r40,400
Cash in bank, on hand and in transit_ ''' 1,313,776
3,158,527

700,225

Surplus

Total assets
Liabilities
Stock, common
Stock, preferred
Accts. payable, accr'd int. & taxes
First mtge. convert. gold bonds
Notes payable
General reserve
Reserve for renewals, f re insur., &c_
Profit and loss, st rplus

1907.
2,309,142
5,509,776
949,112
784,082
2,076,270
1,210,943
16,517,879
1,618,000
2,885,900
9.755,096
2,047,244
4,919,781
109,832
702,144

58,515,404

51,395,201

20,000,000
20,000,000
900,194
8,000,000

20,000,000
20,000,000
794,869

20,000,000
20,000,000
766,308

553,740
442,682
•5,231,682

9,906,432
472,788
209,046
5,132,269

5,810,000
450,808
277,083
4,091,002

55,128,298

Total liabilities

55,128,298

58,515,404

51,395,201

*After deducting discount and expenses connected with the issue of first
mortgage 5% 20-year convertible gold bonds, $821,178, and depreciation
losses incurred in the sale and dismantling of various properties in whole
or in part, $350,951; total, $1,178,129.-V. 89, p. 412.

United States Glass Co., Pittsburgh.
(Report for Fiscal Year ending June 30 1909.)
FINANCIAL STATEMENT JUNE 30.
1909.
1907.
1908.
Current Assets
Glass and material
Accounts receivable.._
Bills receivable
Mortgage receivable_ .._
Stook of other cos
Cash
Total

454,720
450,982
5,546

833,555
322,724
11,267
30,000

734,040
513,599
50

1006.
834,497
399,204
1,005

3,900
127,474

44,119

54,093

27,411

1,042,622

1,241,665

1,301,782

1,262,117




527

1909.
Current Liabilities$
Accounts payable
1
272,712c
Bills payable
1

1908.
$
112,515
331,905

1907.
$
181,294
265,000

1906.
$
198,815
270,000

444,420
797,245
2.598,244

446,294
855,489
2,640,007

468,815
793,302
2,626,751

Total
Net quick assets
Co stof works
Glassport Land Co., net
investment

272,712
769,910
2,593,602
788,258

776,051

783,615

823,311

Total
Bonds
Non-int.-bearing notes..

4,151,770
390,600
73.823

4,171,541
390,600
94,916

4,279,111
390,600
116,008

4,243,364
390,600
137,101

Total
464,423
Total assets in excess of
liabilities
3,687,346
Net gain for y'r to J'ne 30
(7)
-V.89, p. 477.

485,516

506,608

527,701

3,686,025
21.086

3,772,503
162,319

3,715,663
270,655

Republic Iron & Steel Co., Pittsburgh.
(Report for Fiscal Year ending June 30 1909.)
The report signed by John A. Topping, Chairman of
executive committee, says in substance:
General Results.
-Income for the year was not only affected by labor
troubles of a serious character (V.88, p. 372), but by a period of low prices
and a restricted volume of business.
Prices steadily declined throughout the year, with the average for May
at the bottom, so that the period covered by this report was a period of
business depression seldom, if ever, exceeded in severity. The general
average volume of all products sold was, approximately, 62% of normal,
but notwithstanding the small volume of business, your general cost of
production was the lowest for the period in the history of the company,
although labor rates were in excess of your minimum record.
The gross volume of business shows a small increase in volume as compared with the year 1908. This increase is due to increased sales of Southern
foundry pig iron and Northern iron ore, which increases more than offset
the heavy shrinkage In volume of finished iron and steel.
The total appropriations and expenoltures for maintenance and depreciation for the year was $1,613,976, as compared with $1,637,970 for the
year ending June 30 1908.
After making all necessary provisions for your various funds, including
bond Interest, the net profit from operations applicable to dividend purposes
was $1,629,346.
Dividends -In view of the profits shown, the improved business prospects, and with net working assets now at $7,809,901, as against the mortgage provision of ;6,500,000, the executive committee felt warranted in
not only resuming regular quarterly dividend on the preferred stock, but
also in declaring payable in installments of 1% the dividend accumulated
to July 1 1909, of 7% on the preferred stock.
After making provision for July 1 dividend, the net amount of profits
carried to surplus is $1,221,008. The total of undivided profits now is
$5,920,535. The quick convertible assets are now $9,955,364, while the
total of current liabilities is $2,145,463.
Capital Expenditures.
-The additions to the property account during
the year aggregated $307,257.
Total New Construction and Property Additions to June 30 1909,$12,357,591.
Northern District ($8,913,361)Southern District ($3,444,231)
Blast furnaces
$2,543,170 Blast furnaces
$1,740,094
Bessemer steel plant
3,220,717 Coke ovens at furnaces__ _
176,918
Rolling mills
1.612,745 Tenant houses at furnaces
58,341
Coke plants
870,312 Rolling mills
133,568
Northern mines
666,417 Mines and coke ovens_.... 1,208,240
Limestone quarries
127,070
The theoretical capacity of your blast furnaces, due to changes made
during the year, is now estimated at 1,000,000 tons, viz.: Northern district, 700,000 tons: Southern district, 300,000 tons.
Steel Works.
-The expend tures author zed dur ng the y ar to improve
output and quality of product,as well as to increase flexibility of operations.
have produced most satisfactory results. The present capacity of your
steel works on sheared billets and sheet bars (no rails being rolled) is estimated at 650,000 tons. Your actual production, due to restricted demand,
was 427,531 tons. Comparative figures are also submitted:
Rails, Sheet Bars
Year endingIngots.
Slabs and Billets.
June 30 1906
511,768 tons
454,859 tons
Juno 30 1907
546,645 "
488,251 "
June 30 1908
341,985 "
303,328 "
June 30 1909
483,430 "
427,531 "
HaseUon Steel Tube Co.
-Guaranteed Notes.
-To carry out the plans of
the management for the manufacture of steel and iron pipe, the Haselton
Steel Tube Co. was organized by friendly interests (V. 88, p. 1005) and
bought from your company its Haseiton land, and also bought additional
property, making total acreage about 107 acres: and to provide money to
build the tube works and for working capital, issued $1,500,000 of notes
secured by mortgage upon its property owned and to be acquired, which
were sold, with the guaranty of your company, at 97% net. Your company in this connection obtained an option to purchase at its convenience
all the stock of the tube company at par and 6% interest less any dividends
paid. Your company has entered Into a lease with said tube company,
provision being made for construction of plant and operation by your
company for all profits against payment of 6% interest on cash capital
actually paid in, interest on bonds, taxes, &c.
New Stock.
-To provide means for carry ng out plans for increased steel
capacity or other purposes, a sale of unissued preferred stock ($4,583,100)
has been arranged as stated in circular letter to stockholders July 27 1909
(V. 89, p. 290).
Pursuant to these financial plans there is now under contract the construction work necessary for the completion of
1-10-in, continuous skelp mill,
2 lap-weld pipe mills,
1-20-in, semi-continuous skelp mill,
-weld pipe mills.
2 butt
1-60-in, reconstructed sheared plate mill,
The capacity of the new tube works is estimated at 100,000 tons annually.
Year endingOre Production.
June 30 1906
970,106 gross tons
June 30 1907
947,069
June ao looa
1,025,460
June 30 1909
1,451,434
,
ORE RESERVES (ESTIMATED).
Year endingNorth.
Total.
South.
June 30 1906
22,870,755
71,912,555 gross tons
49,041,800
June 30 1907
31,556,500
120,598,300
89,041,800
June 30 1908
35,427,796
124,113,235
88,685,439
88,976.100
June 30 1909
36,293,140
125,269,240
COAL RESERVES, AGGREGATING 213,674,269 TONS.
North.
South.
Total.
24,612,462
Coking coal, tons
91,040,197
115,652,659
16,818,210
Steam coal, tons
81,203.400
98,021.610
COKING CAPACITY.
North
-South- Grand
Gans. Republic. Woodside. Thomas. Warner. Total.
400
196
No. of ovens_ ___ 138
910
1,744
100
440,400Tons per annum_
1,046,400
-606,000(For list of rolling mills, furnaces, &c., see V. 85, p. 719.)
AVERAGE NUMBER OF MEN EMPLOYED, YEARS END.JUNE 30.
North.
South.
Total.
Cost Labor•
6,171
2,169
1908-09
8,340
$5,700,805
5,895
2,652
1907-08
8,547
5,832,632
10,679
3,216
1906-07
13,895
8,686,605
9,065
1905-06
2,600
11,665
7,735.903
8,593
1904-05
2,389
7,316,636
10,982
UNFILLED ORDERS FOR FINISHED AND SEMI
-FINISHED
PRODUCT AND PIG IRON.
Pig Iron.
Finished, &c., Prod.
June 30 1909
392,420 tons
94,247 tons
June 30 1908
283,743 "
59,196 "
Juno 30 1907
448.627 "
74,500 "
June 30 1906
377,349 "
74,607 "
June 30 1905
279,944 "
20,861 "

THE CIIRONICLE

528
TONS.

ANNUAL PRODUCTION IN
Finished and Semi-Finished Products (used on Conversion only).
1908-09. 1907-08. 1906-07. 1905-06. 1904-05. 1903-04. 1902-03
456,833
577,222
672,012
742,435
804,360
434,230
565,151
Pig-Iron Production.
1908-09. 1907-08. 1906-07. 1905-06. 1904-05. 1903-04. 1902-03.
377,565
442,640
493,344
614,954
494,676
678,799
387,717
Ore Production.
1908-09. 1907-08. 1906-07. 1905-06. 1904-05. 1903-04. 1902-03.
864,957
724,797
794,167
970,106
947,069
1,451,434 1,025,460
Coke Production.
1908-09. 1907-08. 1906-07. 1905-06. 1904-05. 1903-04. 1902-03.
250,520
347,846
256,264
343,485
521,561
426,968
592,664
EV 723

INCOME ACCOUNT.
1907-08.
1908-09.

19,595,944
Gross sales
a3,656,801
Gross profits
887,654
Maint. & repairs of plant
Balance
DeductReconstr'n & renewals
Deprec'n written off_ _ _
Provision for exhaustion
of minerals
Interest on bonds, &c

18,693,882
4,046,690
1,000,071

1906-07.

1905-06.

31,227,424
6,127,742
1,100,000

26,196,439
4,750,476
973,075

5,027,742

3,777,401

682,931
(b)

200,931
250,000

151,402
464,163

97,308
490,601

2,769,147 . 3,046,619
526,738

L 519,170

199,584
413,479

118,729
437,300

f

1.

3,729,245
2,738,561
1,971,420
1,629,346
Net profits
(2%)408,338(5 V,)1,071,887 (7)1,429,183 (7)1,429,183
Div.on pref.stock1,221,008
4,699,527

899,533
3,799,994

5,920,535
Total
Arrears of pref. div.(8%)
Deprec'n of properties
and investments sold_
Balance bond discount
and expenses

4,699,527

Surplus for year
Previous surplus

2,300,062
3,133,284

1,309,378
4,010,330

5,433,346
5,319,708
c1,633,352(5/)1,097,408

[VOL. Lxxxix.

-New
Brunswick (Ga.) Terminal & Railway Securities Co.
-See Brunswick Dock & City Improvement Co.
Name, &c.
under "Industrials" below.
Canada Atlantic Ry.-New Mortgage on Leased Line.
-V. 89, p. 347.
See Central Counties Ry. below.
-The stockholders
Central Counties Ry.-New Mortgage.
of the company, which is leased to the Canada Atlantic,
were to vote on August 25 on a proposition to authorize
an issue of $475,000 first mortgage bonds called "A" bonds
on section 1 and 3 of the railway, being at the rate of $12,500
per mile and to ratify and confirm a mortgage deed to
-V. 83, p. 817.
secure the said bonds.
-Further Modification
Central Crosstown RR., New York.
-The Public Service Commission, First District,
of Lease.
Wednesday issued an order approving a modification of the
contract under which the receivers of the Metropolitan Street
Ry. will operate the road pending the reorganization of the
Metropolitan system. The lease may be terminated by
either party on 30 days' notice. Compare V. 87, p. 165;
V. 88, p. 1127.
Under the modified lease the Metropolitan receivers are released from
the obligation to pay the interest on the $2,250,000 3-year 5% notes, or
total
$112,500, and also from the payment of the franchise tax, malting a fixed
reduction in the rental of about $212,500 yearly. The remainder of the
-V. 88, p. 1127.
charges Is to be met by the Metropolitan receivers.

-One
-Called Bonds.
Chicago Burlington & Quincy RR.
hundred and twenty-six ($126,000) 4% sinking fund bonds
1909 at par
,
',810,303 have been drawn for redemption on Sept. 1
at the office of the New,England Trust Co., trustee. The
3,799,994
3,133,284
4,699,527
Net profit and loss sur. 5,920,535
company calles the attention of the holders of the bonds
offering
a Gross profits in 1908-09 Include $64,214 Interest and dividends re- to the terms of the refunding circular of April 20 1909
ceived, less interest paid.
the privilege of exchange for the new general mortgage 4%
S Reconstruction and renewals in 1906-07 Include expenditures written
bonds. Compare V. 88, p. 1060; V. 89, p. 285, 40.
off in lieu of depreciation.
C In full arrears of dividends.
-Successor Company.
Chicago Great Western Railroad.
.
BALANCE SHEETEJ UNE:30
This company filed articles of incorporation at Springfield,
1909.
1908.
1908.
1909.
$
LiabilitiesIll., on August 20 with $96,000,000 of authorized capital
$
Assds54,398,189 53,092,153 Common stock __ _27,101,000 27,191,000 stock, $46,000,000 being common stock and $50,000,000
Plant, &c
906,036 Preferred stock_ _20,416,900 20,416,900
160,186
New construction_
First mtge. bonds.. 8,094,000 8,546,000 4% preferred, preparatory to taking over the property
Invested in other
863,336 Potter Ore Co. bds.
967,336
companies
the Chicago Great Western Railway, sold at judicial
jointly guar____ 338,500
345,000 of
Prepaid roya,Itles
101,175
106,825 sale as stated below, per plan in V. 88, p. 1497.
715,294 Accr'd Int. on bds_
and expenditures 849,341
2,895 Balance from ore
3,804
Miscellaneous _ _ _ _
Chicago Great Western Ry.-Sold.-At judicial sale in
60,058
contracts
96,335
Raw and finished
4,558,513 4,547,999 Bills and accounts
St. Paul on Aug. 21 the property was bid in for $12,000,000,
materials
1,498,957 1,362,025
payable
Ore contract payM. Gardner of New
*2,227,823 1,095,107 the upset price, by S. W. Stevens and G.
800,906 Reserve funds
720,884
ments
76,189
Accrued taxes._ _ _
103,365 York, representing J. P. Morgan & Co., the reorganization
Advance to asso408,338
Dividend July 1_
216,886
ciated cos
plan in V. 88, p. 1497. The
Profit and loss__ _ 5,920,535 4,699,527 managers in accordance with
Accounts and bills
deposits of all classes of securities under the plan of reorgani2,828,936 2,368,248 Unclaimed balance
receivable
2,746
Prior dividend.._
2,746 zation aggregated close to 90%. It is expected that the
667,963
1,830,145
Cash
66,334,222 63,964,830 receivers will be discharged Sept. 1.
Total
66,334,222 63,964,830
Total
Successor Company.
-See Chicago Great Western RR.
• Includes fund for exhaustion of minerals, $906,322; for depreciation above.
-V. 89, p. 410, 347.
of plants, $706,413: for relining furnaces, $120,857; for fire
and renewal
-Opening
and accident insurance, &c., $290,463: for contingencies, $203,768.Colorado Southern New Orleans & Pacific RR.
V. 89, p. 476, 290.
-V.88,
-See St. Louis & San Francisco RR.
of Line Sept. 1.
p. 685.
GENERAL INVESTMENT NEWS.
. Columbia & Montour Electric Ry.-Amalgamation.See Columbia Power Light & Railways Co. in V. 89, p. 410.
RAILROADS, INCLUDING ELECTRIC ROADS.
Columbus Delaware & Marion (Electrice) Ry.-Creditors'
-Judge Overfield at Committee.
-A committee consisting of Dr. W. H. NetherAlaska Central Ry.-Foreclosure Sale.
Valdez, Alaska, on Aug. 17 signed a decree of foreclosure, land of Louisville, Guy M. Walker of New York and N. S.
Keith of Cincinnati has sent out a circular requesting the
the date of sale being set for Oct. 9.-V. 88, p. 1618.
"Louisville Courier-The noteholders creditors to pool their claims. The
' Journal" of
-Notice to Shareholders.
Ann Arbor RR.
August 26 said:
committee of the Detroit Toledo & Ironton Ry. Co. 5%
Dr. Netherland in an interview yesterday said that if the creditors will
in restoring
collateral trust notes, Joseph Ramsey Jr., Chairman, and only aid the committee, little trouble will be experienced of the road,
that John G. Webb, original promoter
L. Worrall, Secretary, 30 Broad St., New York City, solvency. He said the creditors, have already accepted the proposed plan,
Walter
and the majority of
-V,
89,p.348.
by advertisement dated Aug. 24, requests the shareholders which may provide for a new Issue of stock and reorganization.
not to sign the printed proxies in favor of George W. Young,
Detroit Toledo & Ironton Ry.-Noteholders' Committee
-See that company
Leo N. Butzel and G. Caspar Niles, or either of them, sent Appeal to Stockholders of Ann Arbor RR.
out by persons in control of the present management of the above.
-V. 89, p. 224.
Ann Arbor RR. Co., but to await the nomination of proxies
.-Missouri Rate Decision Favorable to
selected to act on behalf of the stockholders of the Ann Arbor R.Freight Rates
preceding page.
-V. 87,
3
ld3- p oa5s. . See editorial remarks on a
Co., whose names will be given out within a few days.
RR.
p. 468, 410.
V. 89,
-Pliny Fisk
-New Director.
Hudson & Manhattan RR.
-Dividend Increased.
Atlantic Coast Line of Connecticut.
-V;89, p. 348.
vacancy.
have declared a, has been elected a director to fill a
The directors of this holding company
Interborough Rapid Transit Co., New York.--Listed.%
quarterly dividend of 2 2 on the $12,600,000 stock, payhas listed $11,590,000 fortyable Sept. 10 on stock of record Aug. 31, thus increasing the The New York Stock Exchange series A, due 1952, and has
five year gold mortgage bonds,
annual rate from 8 to 10%, the rate paid in 1906 and 1907.
authorized $23,660,000 additional of said bonds to be adPrevious Cash Dividend Record (Per Cent).
to Jan. 1 1910, on notice of issu'97. '98. '99. '00. '01. '02. '03. '04. '05. '06 '07. '08. Mch.'09. Juno '09. mitted to the list, but prior
2
2
8
9 10 10
8
-year convertible 6% gold notes due
33.5 4 4% 5 4% 63i 8
ance in exchange for 3
-V. 87, p. 1083.
total amount to be listed $35,250,000.
-Application to Increase 1911, making the 286, 103.
Boston Railroad Holding Co.
Compare V. 89, p.
the Massachusetts RailStock.--The company has applied to
Report.
-See "Annual Reports" on a preceding page.
road Commissioners for authority to increase the outstanding V. 89, p. 286, 103.
the $1,649,200 new
stock from $100,000 to $1,749,200,
-On AuInter-State Railways, Philadelphia.-Deposits.
stock, along with $13,743,500 4% bonds to be given in pay- gust 24, it is reported, there had been deposited under
& Maine stock purchased
ment for the $10,994,800 Boston
reorganization (V. 89, p. 225) about
the Earle
by John L. Billard from the New Haven road. A hearing $5,400,000 plan of $10,776,600 collateral trust 4s. Many
of .the
will take place on Sept. 9.
been heard from and it is hoped
The "Billard Company," which was incorporated in Con- of the 350 holders have not
of $6,500,000 to $7,000,000,
special Act of the Legislature, to obtain the consent of a total to declare the plan operative
necticut in Aug. 1909 under
Maine stock, will presum- or possibly 75% of the bonds, and p. 286, 225.
with authority to hold Boston &
-V. 89,
ably receive from the Boston Railroad Holding Co. the stock some time in September.
-Opening of Line.
Jamestown Franklin & Clearfield RR.
for the B. & M. stock.
and bonds mentioned in payment
to the Lake Shore &
The New Haven road, it is generally expected, will guarantee the bonds, The company, whose road is leased
principal and interest, and sell them to the public for investment, while Michigan Southern, will open on or about Sept.- 1 55 miles
the "Billard Co.", in order to meet legal requirements, will refftin the stock.
Polk, Po:, to Rose, forming part of the extension
25,000 additiOnal
It Is reported that Mr. Billard owns 20,000 to Holding Co. and shares of from
which the building from , Franklin to Clearfield, 111/miles,-V.• 89,
(
stock which have not been sold to the Boston
will therefore continue to hold unless the Bolton Railroad
Billard Co.
p. 287, 225.
-V. 89, p. 161, 40.
Holding Co. should take steps to acquire the same.




278,713

A uG. 28 1909.1

Ti E CHRONICLE

Kingston (N. Y.) Consolidated RR.—Proposed
gage.—Application was made to the Public ServicNew Morte Commission, Second District, at Albany on Aug. 20 for permission
to make a new mortgage to the Manhattan Trust Co. of New
York, as trustee, to secure an issue of $250,000 bonds (junior
to the $700,000 issue of 1901), of which $75,000 to be put
out forthwith and the remainder reserved for future requirements. An exchange says:
The company desires to raise $20,000 to pave 2y, miles
an agreement with the local authorities; that in so doing,of track under
equal amount of 70-lb. rail and replace it by 90-lb. girder to take up an
rail, which will
cost $47,000. It is expected that the balance of the
proposed $250,000
will be needed within the next two years for betterm
cars and qeuipment and extend the railroad.—V. ents, to purchase new
73, p. 1160.

Long Island RR.—Debentures.----The company
on
applied to the Public Service Commission, Second Aug. 20
District,
for authority to create an issue of not exceeding $16,500,000
10-year 4% debentures, of which a portion would
in the near future to reimburse the Pennsylvaniabe issued
RR. for
advances aggregating $6,032,952 on accoun
provements made during the years 1905 t of various immainder would be used to cover the costto 1908. The reof
vances for construction work, improvements additional adment, upon which a considerable sum Must and new equipbe expended in
the next three years.

529

Railroad & Power Co.—Subsidiary Holding Company
for
United Railways Investment C.—This company
was incorporated in June last under the laws of Maine with nomina
l
($1,000) capital stock, which, it is understood, has
since been
increased to $4,000,000, all held by the United Railwa
ys
Investment Co.(V. 88, p. 1314, 1129) as a holding
company
for the following: (1) the Starnslaus Power
Development
Co., which was incorporated last July as
after foreclosure of the Stanislaus Electric Power successor
Co. and
the Tuolumne Water Power Co. per plan in V.
88, p. 235,
569, 1005, 1066; (2) the San Francisco Electri
c Railway
Co., mentioned below under its own title; (3)
$10,000,000
of the $18,800,000 common stock of the United
Railroads
of San Francisco, which has been or will be
sold to it
United Railways Investment Co., as stated in V. 88, by the
p. 1129.
St. Louis & San Francisco RR.—Opening of Line
to
Orleans.—The company will begin train service into New
New
Orleans on Sept. 1, using a car ferry across the Mississ
ippi
River at Baton Rouge and the tracks of the Louisiana
Ry. &
Navigation Co. from Baton Rouge to a connection with the
New Orleans Terminal Co. Compare V. 88,p. 1002.
San Francisco Electric Railways.—Holding Compa
ny.—
See Railroad & Power Co. above.
Bond Issue.—This company, as a subsidiary of the
Railways Investment Co. (V. 88, p. 1129, 1250,United
1259;
V. 88, p. 287), has made a mortgage to the Union
Trust Co.
of San Francisco, trustee, covering the propert
franchises acquired from the Parkside Electric Ry. ies and
Co. and
the projected Visitacion Valley Electric RR.,
all property hereafter acquired with the procee &c., and also
ds of
in order to secure an issue of $10,000,000 25-year the bonds,
dated 1909 and due December 1934. The 5% bonds
"San Francisco Chronicle" of August 18 said:

In such years as interest thereon cannot
be paid out of earnings, authority
Is asked for permission to issue non
-Interest-bearing debenture scrip, convertible into debentures, such debenture
by the issue of some more permanent to be payable in cash or redeemed
form
condition of the company and its increase of security when the financial
d earnings justify an application
for authority to issue such permane
nt securities
Some of the Larger Expenditures Contemp
lated.
Main line improvement, between
Woodside and Jamaica
$2,000,000
Jamaica terminal
1,000,000
North side improvement (double track
and electrification)
1,000,000
Bay Ridge improvement (elimina
tion of grade crossings)
1,000,000
One hundred and fifty new motor
cars
2,700,000
Various freight delivery yards, passenge
r stations, sidings, double
track, grade crossings, &c
912,662
Electrical equipment of tracks and
sub-stations
800,000
Glendale cut-off
The properties transferred in trust include,
with other properties, the
Advances to subsidiary companies
Parkside Electric Ry. system
for extensions
309 682 Golden Gate Park, through and franchises, running from H St., south of
3 7 300
2,
Montauk freight cut-off
the Sunset district, out to the ocean beach
287,400 along Ocean Ave. From
Completion of Atlantic Avenue improve
the southern end of the city
ment
100,000 extending from Ocean
—V. 88 p. 997.
View across Mission road at the a strip of land,
Crocker Tract,
near the County line, where the land for
Louisville & Jeffersonville Bridge 0o.—Listed.—The railway runs in a general easterly direction the right of way for the new
through
Crocker
New York Stock Exchange has listed $1,500,000 additional Estate Co. at Amazon St. and thence through thethe lands of the Dimond
lands of the
Estate Co., 22 feet wide, partly in San Francisco and
first mortgage 50-year 4% guaranteed bonds,
partly
County,
due 1945, of Mrs. to San Bruno Ave.; thence through a right of way inin San Mateo
the property
making the total amount listed $4,500,000.
Eleanor Martin and others [to Visitacion
franchise on Mission St. to Onandaga Ave., where Valley—Ed.] Also a
Of the $1,500,000 bonds listed $500,000
the present electric line
runs to Ingleside and to Ocean Ave. westerly
1902 and $1,000,000 in April 1909 underwere issued and sold in December the county
. Where the new line crosses
line it gives opportunity for a new extension into
board of directors adopted December 31 the terms of resolutions of the County
San Mateo
1902 and June 27 1906. The
.—V. 89, p. 287.
proceeds have been, or will be, used for addition
al construction and other
betterments and the acquisition of additional
Texas Southeastern RR.—Application to Issue Bonds.—
property and rolling stock.
Eainings for Six Months ending June 30 1909.
The company has applied to the Texas Railroad Commis
Operating revenue
sion
$76,767 Operating deficit
for authority to issue $400,000 bonds.
Operating expenses
75,848 Contributions from prop'y cost 12,010
$
Taxes
The road runs from Diboll to Vair, Tex. 10 miles;
36,151 Gross income
76,778 miles,
Blix to Lufkin, 10%
Operating deficit
35,232 Interest on bonds
76,778 at lastand extension being under construction from Vair, of which 8 miles
—V. 57, p. 22.
accounts were completed. Stock June 30 1908, $250,000.
President, T. L. L. Temple, Texarkana, Tex.; Secretar
Macon (Ga.) Railway & Light Co.—Consolid
y and Treasurer, E. C.
ation.— Durham, Diboll, Tex.

Press despatches state that the bill permitting
dation of the company with the Central Georgiathe consoliPower Co.,
the Atlanta Macon •& Griffin Interurban
Americus & Albany Electric Ry. became aRy. and the
law
11. It is reported that the consolidated company on Aug.
will
a capital of about $10,000,000 and build the propos have
ed lines
from Atlanta to Macon and from Macon to
Albany of
the last two named companies. President Masseeis
furthering the consolidation.—V. 87, p. 1664.
Mexico Northwestern Railway.—First Coupo
coupon due September 1 1909 will be payable at then.—The
exchange of $4 86 2-3 to the £ sterling in New York,rate of
at
Guranty Trust Co., 28 Nassau St. and in Toronto at the
Canadian Bank of Commerce. W. E. Davidson is Secret the
ary.
—V. 89, p. 470, 348.
Michigan Central RR.—Listed.—The New York
Stock
Exchange has listed $7,634,000 twenty-year 4% gold
debentures due 1929.
The debentures form part of the $10,000
,000 sold to the J. P. Morgan
& Co. syndicate. The proceeds
cost of the tunnel being construc have been, or are to be, applied to the
ted under the Detroit River. (Compare
V. 88, p. 945, 1002, 1061.)
Earnings for Six Months ending June 30.
Six
Operating Net Oper. Gross
Total
Dividends Balance,
Mos.— Revenues. Revenues. (after Inc.
Taxes.) Deducrns. (3%). Surplus.
1909$12,590,369 $3,685,035
1908... 11,330,909 3.234,751 $3,532,861 $2,833,111 $562,140 $137,610
Fixed charges as above ($2.833,
111) include: interest on bonds, $1,194,
496; Int. on equipment trust certifica
tes, $91,149; general interest, $376,040;
rentals, $515,016: additions and betterme
nts, $236,411; hire of equipment.
&c., $419,999.—V. 89, P. 470.

Mobile Jackson & Kansas City RR.—Sale.—At
foreclosure
sale in Decatur, Newton County, Miss., on Aug.
property, including the Gulf & Chicago, was bid in 23, the
for
200,000 by Neil A. Weathers of New York, repres $3,enting
the bondholders' committee.—V. 89, p. 411.
Norfolk & Western Ry.—Decision.—Judge
in the Circuit Court on Monday granted an Burdette
restraining the State and County officials from injunction
enforcing
against the company the 2
.
-cent passenger rate law
by the West Virginia Legislature in 1907. The passed
order is
similar to those granted to the Chesapeake
& Ohio and
& Coke railways. (V.88, p.1619, 1499).—V.89, p. 408, Coal
163.
Northern Pacific Ry.—Spokane Rate Case.—See
remarks in V. 89, p. 196; V. 88, p. 856.—V.88,p.1 editorial
373,945.
Pennsylvania AR.—See Long Island RR. above
.—V. 88,
p. 163.
Quebec Central Railway.—Interest on Incomes.—T
interest on the 7 income bonds (coupon No. 9) he full
has
declared for the fiscal year ended June 30 1909.—V. been
87, p.
1301.



The company is controlled in the interest of the Southern
Pine Lumber Co. See that company under "Indus
trials"
below.
Toledo Bowling Green & Southern Traction Co.—See
Toledo Urban & Interurban Ry. below.—V. 89, p. 471.
Toledo Urban & Interurban Ry.—Sale.—The road was
sold for $400,000 at foreclosure sale on Aug. 23 by Specia
l
Master Harry W. Lloyd to Henry Gibson of Cincinnati,
representing the Toledo Bowling Green & Southern Tracti
on
Co. Compare V. 88, p. 1439.
United Railroads of San Francisco.—New Allies.—See
San Francisco Electric Railways Co. and Railroads & Power
Development Co. above.—V. 88, p. 1622, 1314.
United Railways Investment Co.—New Subsidiaries.—
See Railroads & Power Development Co. and San Francisco
Electric Railways above.—V. 89, p. 349, 287.
Virginia Railway & Power Co., Richmond, Va.—Bonde
Offered.—John L. Williams & Sons, Richmond, Va.,
August 12, quoted the first refunding 5s of this reorga on
nized
property at 92 bid and 94 asked, the preferred stock
at
68 bid and 71 asked and common stock at 18
bid,
asked. A circular describing the bonds says in substance:20

"First and refunding mortgage" 5% 25-year gold bonds,
$1,000 each c•
dated July 11909, due July 1 1934; interest payable Jan. and
July; authorized, $15,000,000, issued, $7,542,000.
Of the unissued bonds, $2,158,000 will be reserved.to retire
amount of underlying bonds and the remaining $5,300;000 will an equal
from time to time, under proper restrictions, for corporat be issued
e purposes.
Callable for the sinking fund or redemption at 105 and
Trust Co. of New York, trustee. Application will be interest. Equitable
made
New York, Philadelphia and Baltimore Stock Exchanges. to list on the
History. —The company acquired at foreclosure sale
on May 5 1909
and took possession on July 1 1909 of all the properti
es
and controlled by the Virginia Passenger & Power Co., previously owned
Virginia Electrical
Railway & Development Co., Richmond Passenger &
Power Co., Richmond
Traction Co. and Richmond & Petersburg Electric
Ry. Co. These
companies owned all the street railway, electric light
Richmond, Manchester and Petersburg. Va., and in and power facilities in
the
thereto, including an interurban electric railway extendicounties contiguous
ng from Manchester
to Petersburg.
Total Outstanding Capitalization (excluding $72,000
car trusts which are
being retired in installments)
Present.
Old Cos.
Reduction.
Bonds$9,700,000x$19,
057,066 $9,357,066
Stocks(common $7,500,000; preferred
$4,700,000)
12,200,000
13,188,700
968,700
xIncluding accrued interest.
Security.—Theso bonds are (a) an absolute
prior lien (excepting for
$123,000 Richmond Ry. & Electric Co. 1st
5s)
railway track, one steam power plant in Richmon on 93 39-100 miles of
d, steam plant and water
power plant In Petersburg. all car barns and rolling
stock in Petersburg
and Manchester and all in Richmond except those
prior lien bonds referred to below and (b) cover subject to $2,158,000
the remaining property
subject only to $2,158,000 underlying bonds.
The property includes
119.94 miles of railway track, with adequat rolling
stock, car house provisions, &c.; four power plants, two of whicheare
water power, one located
in Richmond, utilizing the James River power, and
utilizing the Appomattox River power, with necessar one in Petersburg,
y sub-station. storage

530

'THE CHRONICLE

nt
. All of the properties are in excelle
plants and distribution systemsreceivership period very large expenditures
physical condition. During the were made and paid for out of earnings.
for betterments and replacements
the various properties is estimated
The present total population served by
at about 155,000.
Leader" July 1 1909 said: "These
An editorial in the "Richmond Newsy with the city
They have given
people have dealt squarely and liberalll help in building up the city and
powerfu
us a system which has been a
which probably is not exservice
stimulating its extension. We have a
celled anywhere in the country." Petersburg By. franchises are perpetual.
-The Manchester &
Franchises.
in Richmond expire In 1926 and 1931.
The principal railway franchises expires in 1981. The water power rights
The interurban railway franchise perpetual. These rights are only partly
in Richmond and Petersburg are further development. The more importutilized and are capable of a large
in 1927 and 1928 and in Manant rights for lighting In Richmond expire
g franchises are perpetual. (Comchester in 1931. The Petersburg Lightin
& Power Co. In V. 87,
of experts under Virginia Passenger
pare report
-Ed.)
p. 347, 348.
ed properties earned
-In the calendar year 1903 the combin dinary maintenance
Earnings.
extraor
$602,766. In that year however, heavy to operating expenses. Based
charged
expendturies were made which were of the current year gross earnings for
on earning for the first six months 000, and If the operating ratio of the
the full year arc estimated at $2,200,
maintained, there should he $880,000
first six months, namely, 57%, isyear are estimated at $515,000, leaving
net. Fixed charges for the fiscal of $365,000, which would he equivalent
full year
an estimated surplus for the $4,500,000 preferred stock and nearly 2% on
to full 5% dividends on the
common stock.
the entire authorized issue of $1,500,000 -6 Mos. end..I'ne 30- Inc. or
or
Comparative -Month of June- Inc.
Dec.
1908.
1009.
Dec.
1908.
Earnings- 1909.
2.6% $1,014,195 $956,396 Inc. 6.0
Gross earns. $179,625 $174,858 Inc.
580,711 648,486 Dec.10.4
.7%
Oper. exps __ 109,206 125,151 Dec.12
$433,383 $307,910 Inc. 40.7
Net earns ___ $70,419 $49,706 Inc. 41.7%
--V. 89, p. 287, 226.

dria & Mt. Vernon

-The direc-Debenture Notes.
American Locomotive 0o.
5%
on Wednesday authorized an issue of $5,000,000 vetors
impro
debenture notes to reimburse the treasury forsupposed,
gold
is
ment expenditures. Harvey Fisk & Sons, it this statewill place the issue. President Marshall made
ment:
prices of material and

Railway.

Alexan
July 31 1903.
Earnings for the Seven Months ending
$93,800
$298,795 Fixed charges
earnings
Gross
, $42,012
135,8121Sur. appl. to
Net after taxes.
dividen for
no increase Is made ds_-the remainGraha m & Co., Philadelphia, say: "If
the net earnings do not exceed those Of
ing five months of the year, and amount to about $70,000, which will be
last year, the yearly surplus will stock.
--V. 87, p. 1239.
approximately 5% on the capital
Washington

Lxxxix.

Electric Ry.Washington Baltimore & Annapolis Miller, & co.,
circular issued by Hayden
Outlook.-A
t 21, says:
under date
Citizens Bldg.,. Cleveland, this company's of Augus
outlook. Following is a

prevailing low
In order to take advantage of the improveme -its when the plants were
the facility and economy in making
with a full outlet in the future prosperity
not in full operation, the directors,
authorized extensive Improvements in the
of the country, some time ago at Schenectady, Dunkirk, Pittsburgh and
larger works of the company
d and cOntracts let for these improveRichmond. Plans have been prepare in a larger increased capacity and
ments, which it is expected will result
reduction In manufacturing costs. an expenditure of about $3,500,000, for
The improvements outlined entail
reimburse the treasury of the comwhich it will ultimately be necessary to to-day authorized an issue of $5,have
pany. Accordingly the directors to reimburse the treasury for the amount
000,000 5% gold debenture notes to provide additional working capital
expended in improvements and
volume of business by the increased
necessary to conduct the greater
facillties.-V. 89, p. 471.

-Report of Master
American Telephone & Telegraph 0o.
-The report of Everett W. Burdett,
in Western Union Suit.
1904, in pursuance of
the special Master appointed Feb. 1
t Court of Appeals
decision of the United States Circuisuit begun in 1883
the
Boston rendered Oct. 7 1903 in the
at
Bell Telephone Co.,
to ascertain the amount the Americanhone Co. should pay
as successor of the National Bell Telep Nov. 1:0 1879, was
the Western Union under agreement of agreement provided
filed in Boston on Saturday last. The 20% of "all rentals
that the latter should receive for 17 years
ng telephones."
or royalties from licenses or leases of speaki is entitled to
The Master finds that the Western Union
of stock of
recover $2,579,914 cash and also 20,087 shares
stock received
various licensee companies as its share of theaddition to the
free of cost to the American Telephone Co. in
1896. The
cash rental during the 17-year period expiring
cash and
claim of the Western Union was for $5,873,292 Am. Tel.
38,188 shares of stock. Compare annual report ofTelegraph
& Teleg. Co., V. 78, p. 1220, and Western Union ny will
Compa
Co. item, V. 77, p. 953. The Telephone by the Court,
report
oppose the confirmation of the'Master's the latter is unsatisand, it is stated, will, if the decision of
Supreme Court.
factory, carry the appeal to the United States
leading official of
The "Boston News Bureau" quotes a
the Telephone Company as saying:

Frequently we are asked about
year:
copy of the statement for the first fiscalending June 30 1909.
Statement for Fiscal Year
_3322,478
$595,5651 Taxes and interest _ _ _
Gross earnings
139,985
, deficit__ _
Net earns. (after' oper. exp.) 182,493 Balance that the company will overto the probability
The point of inquiry is as
of its securities. There are three
come its deficit without readjustment
management relies to largely Increase
Important changes upon which the
net earnings:
By. & Electric Co. under which
(1) A contract with the Washington the present terminus to a point
from
the company will operate its cars city of Washington-a distance of 294
years, and even if the Master's
near the Treasury Building in the be commenced the tracks within the
The suit had been In the courts for 25
years on apmiles. Before such operation can rebuilt. This work is under way and award Is sustained it is likely to remain in the courts for someIs but $4,500
must be
d in the finding
city for the distance stated
peal. Not only this, but the amount involve
half of
1 1909.
will be completed about Oct.heavier than necessary and, In the interest of 000, a sum no larger than our surplus after dividends for the first
have been setting aside each year
(2) The company's cars are
this year.1 Not only that, but for years we in the event of the decision going
be reoiaced by others. A market has been
case
economy, these cars are to
something toward a settlement of this
ones will be ready Jan. 1 1910.
totals about $5,000,000, is included in
found for the old cars and the new
has not proven economical and the against us. This fund, which now
(3) The scheme of applying power is replacing at its own charge, the our general surplus of Dec. 31 last.
system
s are in no wise disturbed at the
corporation which installed the-tested and well-understood direct current
American Telephone officiaisand director many steps in a piece of ancient
of the
original scheme, with the long
decision, which Is regarded simply as one for many years to come. It will be
be completed by Jan. 11910.
court
system. This work is to
d to add largely to gross receipts, litigation which is certain to be in shares awarded to the Western Union are
The first of these changes is expecte
noticed that In the list of 20,000
companand discharging passengers In the heart
larger and stronger Bell companies. The
because it provides for receiving
reduce
other two changes are expected to s. An none of the stocks of theof instances are still on the firing line of competitive
of an important city. The
ies affected In a number
Master
of all is to add to net earning
operating expenses. The effect the property for some months expresses territory, and their stocks are worth very much less than par. [The scope
the
engineer who has been observing been effective during the late fiscal year In his findings excluded from the accounting as not coining within & Telehad
the belief that If these changes increase in net earnings. According to this. of the Court's decision the following shares: Atnerican Telephone
Telephone & Telegraph Co., 3,895 Bell
they wouldnave meant a 30%
$85,237. Such a deficit must be overcome. graph Co., 5,000; New England 200; Chicago Telephone Co., 398, a total
the deficit would have been
Telephone Co. of Pennsylvania,
of business.
the defendant and
If at all, by the natural growth July, this year and last follows:
which, with a commission claimed by number of shares
of 9,491 shares,
The company's statement for
1909.
1908. said to have been allowed by the Master, reduced the p. 472, 412.
89,
Month of July
$44,230 awarded by him to 20,087, as stated above.-Edd-V.
$54.402
Gross earnings
31,947
33,348
-J. G. Wylie
Operating expenses
-Change of Officers.
American Thread Co.
$21,054
$12,283
and Treasurer to succeed the late
Net earnings
and of this gain has been elected Secretary
earnings of 23%
Upshur, Assistant Treasurer and
This comparison shows a gain in gross
the gross earnings In July 1908 was added T. M. Ives and Lovell
161.
an amount equal to almost 20% of If this rate of gain is maintained through-V. 89, p. '
Assistant Secretary.
to the net earnings for July 1909. .greatly exceed $85,237. Even though George W. Decker,
out the year, the year's gain will charges when the above noted changes
Imperial Tobacco Co. of
-See
American Tobacco 0o.
net earnings equal or exceed fixed have an indebtedness made up of the
are In full effect, the company will the remnant of the cost of building Canada, Ltd., V. 88, p. 1133.-V. 89, p. 350, 227.
accumulated deficit in operation and
dness over the market value of
indebte
-C. M. NV .
--New Director.
the property. The excess of such for funding purposes may be estimated
American Union Telephone Co. National Bank, has been
the capital securities now availablelook to its Mends to carry this balance
Allentown
must
at $250,000. The company earnings appear In sufficient amount to put it Keck, President of the
of indebtedness until surplus
-V.87, p. 417.
It is said that the largest holders of elected a director.
beyond the need of asking favors.
to extend to the company the
Guarantee Co., Pittsburgh.
securities have, both motive and ability
---V. 89, p. 220.
credible.
to us
American Water-Works & Falls Northside Land & Water
accommodation it will require. This seems

-See Twin
.
New Officers.
'Washington Frederick & Gettysburg Ry.- following new Guaranteed Bonds
Salmon River Land & Water Co.
Co. below; also Twin Falls
ate having acquired control, the
A new syndic
1199.
in V. 88, p. 1135.-V. 88, p.
officers were recently elected:
directors and
L. Coblentz (ViceDock & City Improvement Co., New
Dr. Thomas B. Johnson, Emory
New Directors:
Brunswick (Ga.)
ban RR.), John D. Hendrickson and
-The stockholders
President of the Frederick Interurer of the old board being re-elected.
-Change of Name-New Stock.
r
George William Smith, the remaind Smith (formerly Treasurer), President: York.
n Buchanan
7 upon the matter of amending the charte
Officers: Dr. Frankli
hner, Vice-Presiednts; Charles will vote Sept.
Charles VVerthe
Alexander Ramsburg and Oscar B Coblentz Treasurer.
so as to change its name to the Brunswick
of the company
C. Waters, Secretary, and
that unless the road is changed to a
ay Securities Co. and authorize the inFtesident.Smith is quoted as saying another route. After this point is Terminal & Railw
0,000
over
trolley line, it will enter the city taken up for the extension northwest to crease of its capital stock from $5,000,000 to $10,00
stated, will be
settled, plans, it is
remain $100 each); to vote upon
--V. 85. p. 922.
gton.
(the par value of shares to portion of the new stock for the
Gettysburg and south to Washin
authorizing the issue of a l stock of the Mutual Light &
NEOUS.
INDUSTRIAL, GAS AND MISCELLA
purchase of all of the capita
of
-New
-Acquisitions
urgh.
and the acquisition of the stock and bonds
Allegheny Steel Co., Pittsbation (organized in June Water Co. railway company now being constructed in the
the street
ing
--This Pennsylvania corpor
Stock.
wick, upon the terms set forth in the follow
plant, plate and sheet mills
1905), operating an open-hearth ly absorbed the allied Inter- City of Bruns from the President, and authorizing the board
ion
at Brackenridge, Pa., has recentBrackenridge, Pa., having a communicat
e thereof at
of directors, in its discretion, to issue the balanc amounts
State Steel Co., also located at
five cold mills, its product such times, for such consideration and in such signed by
plant containing six hot mills and
capacity of 25,000 tons
board shall seem best. A circular
being sheets for special purposes, with a company with $300,- as to the said
Kraetzer Jr.,
Adolph
Howell H. Barnes, President, and St., NewG.
year; also the Reliance Tube Co.,
per
York, Aug. 21,
date of 20 Broad
plant at Brackenridge.
000 share capital, which operated a recently increased from Secretary, under
says in substance:
The authorized capital stock was
some
directors have been seeking to formulate
all of one class
For some time past
$300,000 (par of shares $100) to $3,000,000, dated July 1, plan whereby the great your al value of its properties may be mor readily
potenti
00,
$300,0
-producing basis.
e, it may be placed upon an income
and all outstanding. Funded debt E.
if 'possibl
Sheldon President; realized, and,ted negotiations, they have concluded arrangements which
After protrac
1908, due 1918. Officers: Harry
these results.
Robert D. Campbell, they believe will lead to the Mutual Light & Water Co. has been supplyFrank H. Stevens, Secretary, and 509.
shed
For a number of years
Brunswick. and it has already establi
ing light and water in the City of the leading citizens of that city have
-V. 87, p. 546; V. 81, p.
Treasurer.
of
of an
-Bonds of Con- a profitable business. Certain construction and operation therein is exfor the
Electric Co., New York.
American Gas &
lately procured a franchise
of construction and
which is now
-See Rockford Electric Co. in V. electric street railway,traffic early, inIn course . our plans have been
the autumn
trolled Company Offered.
pected to be open for
88, p. 1442.



AUG. 28 1909.]

THE CHRONICLE

531

perfected to the point of arran
ging
stock of the Light & Water Co. and for the acquisition of the entire capita
tanooga, Knoxville and New
Orleans. Its numerous
Railway Co. Other negotiations of all of the stock and bonds of the Street the entire State
s of Tennessee. Kentucky, Missis exchanges also cover
are in progress which, if consummated,
will greatly benefit the entire
sippi and Louisiana,
community. In view of their character, besides parts of Illinois and Indiana, a territory
however, it is considered that it
1,000 miles long
wide. Over 90% of all its
franchises Is perpetual and unrestby 400
respecting them at the present would be unwise to announce any details It has unlimited
ricted.
time.
and unrestricted franchises in
Your company has no
Louisville, Nashville,
Memphis and New
cumbered and your directfloating or funded debt, its properties are unen- which has 33 years Orleans. It has a 35-year franchise in Evansville,
ors desire that they shall remain so. They have
yet to run. Notwithstanding their
sought, therefore, to perfect a
enormous money
plan which will make possible the acquisi- value, none of the company's franchises is carrie
tion of income-producing proper
d on the
The growth of the company
ties without the present expenditure of
for the past ten or twelvbooks as an asset.
money, and have concluded that this
remarkable.
e years has been
plished by an increase of the capita can be most satisfactorily accom- with a surplus Back as far as 1897 the capital was only $1,695,700,
of $166,144 and a total number
l stock. Accordingly, options. have to
been obtained which will enable us
of subscribers amounting
10,635. The stockholders receiv
to
ed dividends at the rate of
Light & Water Co. and of the Street purchase all of the stock of the Mutual annum. At the
4% per
Railway Co., and to pay for the same
presen
with new stock of this company.
capital st ck is $19,6 t time, with a bonded debt of only $1,000,000, the
In order to provide for these purchases,
total number of subscr80,150, surplus and undivided profits $5,841,980,
and for carrying into effect the
ibers 201,422, and dividend rate 8%
other matters concerning which negotiations
The company has accumulati
per annum.
have not yet been completed,
ons
your directors have resolved that
believed that some sort of benefi of a substantial nature and it is generally
ts may accrue to stockholders in
tal stock from 50,000 to 100,0 it is advisable that an increase of the capi- future. As the
the near
shares of the new stock are to 00 shares be authorized. Twenty thousand of shareholders,company has always shown a liberal policy in its treatment
be
Light & Water Co., which shall inissued for all of the stock of the Mutual unusual strengthit would seem that such action Is not improbable and the
turn hold all
shown in the market for this stock
Railway Co., in addition to which we are also of the stock of the Street months substantiat.s
during the past few
this belief. Some such action is warra
to receive $150,000 in cash.
, It has been agreed that not more than
nted in view
5100,000 shall be expended by those of the very small returns made to shareholders
now controlling the street railway
for many
years of the company's operat
constr
ions —V. 88, p. 1555, 454. of the earlier
that all sums advanced for the purpoin shall ucting and.equipping it, and
se
be repaid out of the $150,000
to be received by us in cash, whereupon
Dartmouth Manufacturing Corporat
obligations issued by the Street Railway all bonds or other securities or
ion, New Bedford,
Co.
company. This will leave unissued 30,00 are to be transferred to your Mass.—Preferred Stock Offered.
—A. B.
0 shares, which the directors Milk
desire to utilize for further corporate
St., Boston, who,offer by advertis Turner & Co., 24
purposes as they shall deem best.
In order that the company's title
ement, at $108 each,
In which it will be engaged, it is may be more suggestive of the business a limited number of the 5%
also propo
cumulative preferred shares,
Brunswick Terminal & Railway Securities sed to change its name to the which are free from
Co.
taxation in Massachusetts, netting
This plan has the approval of the larges
the
vest in your company the ownership t stockholders. If executed it will investor 4.53%, say:
of the most essential of the public
utilities of the City of Brunswick, in
We understand the total
land now held; the close relationshipaddition to the large areas of valuable after
assets are in the vicinity of
deducting the $800.000 bonds
$5,000,000, so that,
the Street Railway Co. should result between the Light & Water Co. and
, the securi
in
very favorable terms, and the distri obtaining power for the latter upon preferred stock is nearly seven times its par value.ty behind the $600,000
The total number of spindles
-which should follow the building of bution of and Increase in population the
at the present time is about
average earnings per year per spindl
205,000, and
the other arrangements contemplatthe street railway and the perfection of about
ed,
$3, so that, at the average earni e, since incorporation, have been
Water Co., as well as increase the value should largely benefit the Light
ngs
of your real property. In addition earn on Sept. 1, when the new mill goes per spindle, the company should
to these considerations, the leadin
into complete
average
holders in your company, where g men of Brunswick will become stock- spindl of $630,000, and we are informed that to-da operation, a total
upon their interests will be
y the earnings per
e are above the average.
yours and they will, accordingly,
Identical
Basing the net earnings at only
assist us in every manner possi with
V. 85, p. 158.
$2 per spindle, the earnings mould
ble.— age as follow
avers:
Net earnings from 205,0
Central Georgia Power Co.—
00
Dividend, 5% on
Consolidation.—See Macon
spindles
$410,0001 preferred stock $600,000
Ry. & Light under "Railroads"
Int. on $800,000 4% bonds
$30,000
above.—V. 88, p. 1199.
_ 32,00
The above is a very conservative 0 Balance, surplus
348,000
Cincinnati Securities CO.—Diss
considering the fact that the
olution.—Secretary J. G. company to-day, with only 126,000 estimate,in
spindles
Campbell on August 21 gave
operation, is
profit of approximately $500,
000 for the year and the additi earning a net
the terms of the deposit agre notice that in accordance with the company 80,000 more spindles.—V. 89, p. 472, 228. onal mill gives
ement bearing date Oct. 1 1906

between the Cincinnati Secur
Dominion Textile
Co. of New Jersey, relating ities Co. and Commercial Trust President.—The figur Co., Ltd., Montreal.—Statement by
to comm
Gas & Electric Co.(V. 89, p. 230), on stock of the Union were given in V. 89, es for the year ending March 31 1909
Co., as depositor, had elected to .the Cincinnati Securities signed by President p. 221. A statement dated May 27 and
David Yuile, who recently died, says:
terminate said agreement
on August 25 1909.
The net profits for the year,
after

On or after Aug. 31 1909
Securities Co. for the delivery the holders of contracts of the Cincinnati
Co. may surrender the same of common stock of the Union Gas & Electric
to
Jersey at its office, No. 15 Excha the said Commercial Trust Co. of New
nge Place, Jersey City, N. J.,
certificates of stock of the
and receive
of shares of common stock ofUnion Gas & Electric Co. for the number
said company called for by said
surrendered. [The "Cincinnati Times
contra
Star" of Aug. 25 said: "Whects so
Union Gas & Electric Co. leased
n the
Yeas ago, a financing committee the Cincinnati Gas & Electric Co. some
was formed, composed of Oscar Gubel
man, G. W. Young, A. 13.
Leach and others. This commi
$5,000,000 in the vaults of the Union
ttee placed
Savings Bank & Trust Co. $3,00
to be used to improve the gas
0,000
guaranty that tile dividends properties and $2,000,000 to be used as a
of the Cincinnati Gas Co. would
In order to protect thems
be paid.
Cincinnati Securities Co., elves, tile committee formed a pool called the
and it controlled the stock of
Electric Co. owned by the commi
the
ttee. When the Columbia Union Gas &
Co. bought the Union Co. it also
Gas & Electric
bough
securities company was at an end." t the pool, and the usefulness of the
)

Citizens' Gas Co., Jacksonvil
(Fla.) Gas Co., V. 88, p. 234.— le, Fla.—See Jacksonville
84, p. 1054, 806.
Colonial Steel Co.—Preferred
underwriting of the new issue of Stock Underwritten.—The
preferred stock, it is announce$750,000 7% cumulative
d,
and a limited amount of the stock, has been completed
offered for public subscription • throit is expected, will bt
brokerage house of Scully, Painter & ugh the banking • and
Beech. The common
stock is $1,250,000 and the preferred
will participate equally in dividend and common shares
. payment of 7% on each. The Pitts s in any year after
burgh "Gazette" says:
Some time ago the company took
up
steel plate and wire rods with copper.the new patented process for coating
The
and contracts have been placed with leadin invention has been perfected
g
new product. Tile preferred stock is issuedcopper wire consumers for the
additional capital to handle this new busine for the purpose of providing
liquidating floating debt incurred in the ss, and also for the purpose of
construction of two new
hearth furnaces. Joseph W. Marsh
openCo. has taken an active interest , of tile Standard Underground Cable
experts have pronounced the new in promoting the new industry,and other
Colonial Steel Co. report busine copper weld a success. Officials of tile
ss
and new departments, with prospe as being very good, both in the old
cts for the latter especially
—V. 87, p. 937.
promising.

Colonial Sugar Co. of New York
holders of this company, a reorganiza .—Sale.—The sharetion of the'Esperanza
Central Sugar Co., on Aug. 11 unan
contracts for the sale of its prope imously voted to approve
Fajardo Sugar Co. The stock rties in Porto Rico to the
of
stated, will be distributed amon the latter company, it is
Colonial Sugar CO. in exchange g security holders of the
pany, upon a basis unnamed. for stock of the latter comH. S. Gladwin, Secretary,
32 Broadway, New York.
Commonwealth Edison Co.—Bond
standing ($5,000,000) 5% debentur s Called.—The out1907 have been called for payment e notes dated March 1
Illinois Trust & Savings Bank on at 101 at the office of the
September 1. Compare
V. 88, p. 55.—V. 89, p. 470, 350.
Connecticut Valley Lumber Co.—New
Director.—George
I. Scott of New York has been elect
ed
the late George Van Dyke.—V. 88, p. a director to succeed
55.
Cumberland (Bell) Telephone & Telegrap
h Co., Nashville,
Tenn.—Dividend Outlook.—Gouldin
Marr
and bonds, Nashville, Tenn., in gcircu , dealer in stocks
a
lar recommending
the stock as an investment says:
For 26 years

the company has an unbroken record of
dividends beginning 1883 at the
quarterly cash
rate of
The company controls Bell telephone4% per ann.and now paying 8%.
exchanges throughout a largo
most prosperous territory in the
and
South; it has a complete network
lines of its own, extending from
of toll
Louisv
having exchanges at Evansville. Louisv ille, Ky., to New Orleans, La.,
ille, Memphis, Nashvi'le, Chatt
an-




paying current interest
mill charges and writin off
the usual amount for repairs and on loans, a;li
amounts to $678,017. gTo these
bette
profits we have added $68,390, rments,
dividend of 2
being a
on 27,356 shares of the Dominion
Cotton Mills Co.
$51,705 being a dividend of -%io
3)
n 14,773 shares of Merchants' stock,
Co. stock, and $3,000 received
as bonus from the City of St. Henri Cotton
We have also added the sum
.
raw cotton, making in all $1,00 of $203,177 profit derived from the sale of
4,289
Interest on bonds, $203,896; divid . Out of this amount has been paid:
end
dividend on common stock (5%), $250, on preferred stock (7%), $130,069;
000: rental of Dominion Cotton
Co., $325,303; rental of Merch
Mills
for all had and doubtful debts ants' Cotton Co., $65,492. After allowing
This will bring the amount at , there is left a surplus for the year of $8,933.
the credit of profit and loss account
269, against $568,335 last year;
to $577,this
considering the large falling off there your directors think very satisfactory,
has been in trade during the year 1908.
Sales for the year amount to $6,15
3,626, compared with $8,045,497
year, a decrease of $1,891,871
last
.
fair average price, and we have Raw cotton has been secured at a very
facture the goods for the ordersa sufficient quantity on hand to manuwe have taken. The company
operation 7,950 looms, 380,973
has in
and paid out in wages during spindles and employs about 5,600 hands,
the past year over $1,500,000
221,228.
.—V. 89, p.

Gas Securities Co., New York
Dividend.—The shareholders at a .—Stock Increase—Stock
Street on Aug. 9 voted to increasemeeting held at 60 Wall
the
$100,000 to $500,000; par of shares $100common stock from
dividend of 100% has been declared. . A common stock
President and Louis F. Meisel, Secre Henry L. Doherty is
tary.
Great Western Power Co.—Desc
World" of New York in its issueription.—The "Electrical
description of the company's hydr of Aug. 26 gives a full
tion on the Feather River.—V. 88, o-electric generating stap. 689.
Harrisburg (Pa.) Gas Co.—
in V. 88, p. 1132 (also United See Dauphin County Gas Co.
Gas Improvement Co., V 79,
p. 498).—V. 76, p. 755.
Haselton Steel Tube Co.—See Repu
under "Annual Reports" on a previ blic Iron & Steel Co.
ous page.
Hubbard-Elliott Co., Chicago.—Option.
—L. Hirsch & Co.
of London some time ago qbtained
pany's copper properties in Alaska an option on the comand
and construction of the Valdez-Yuko also for the purchase
The engineers representing L. Hirs n RR.(V. 83, p. 324.)
ch
early in July for the purpose of maki & Co. arrived'in Alaska
various properties which are to gong an examination of the
into the proposed new
corporation, and upon reoeiving their
repor
Co., it is expected, will come to a decis ts L. Ifirsch &
ion
matter with very little delay. While the on the whole
property of the Hubbard-Elliott Co. does option on the
not expire until
Jan. 1 1911, there are certain other
features to the deal
which, it is believed, will influence Messr
decide the question and give notice to the s. Hirsch & Co. to
vendors before the
end of the present year.
Win. F. James & Co. of Chicago say in
a circular:
The recent negotiations

between the Hubbard-Elliot
t Co. and L.
& Co. of London have resulted in the
contract being signed by both Hirsch
This arrangement involves the organi
parties.
corporation with a ,teraro.of zation by L. Hirsch & Co. of a new
IttproperIes apit istock
$30,500,000. Beside into
smelter0eresto s theHtsne
gbardw
go
corporation the big Stewart property
(The Alaska Consolidated Coppe
Co.) in the Kotsina Valley, and proba
r
bly other large properties in the
immediate vicinity. The capital stock
Into 6,100,000 shares, the par value of the new company will be divided
of which will be $5, and each
1,500,000 shares of Hubba
of the
In the new corporation. rd-Elliott stock is to be exchanged for one share
The contract between L. Hirsch
& Co. and Ambler .1'. Stewart and
associates. to take over the Valdez-Yuk
his
on fly. and franchises, North
Valdez Land Co. with its townwell as The Alaska Consolidated site and terminal facilities at Valdez, as
Ccpper Co., owning 1,100 acres
copper property in the Kotsina Valle
of rich
y not far from Elliott Creek. has also

V

532

THE CHRONICLE

lVoL. Lxxxix.

ted in Mexico City;
hter house can he erected or opera
other abattoir or slaug val of the Federal Government, branch cold stores
(b) that, with the appro established In all parts of the Republic, with freebe
exempand retail shops may s upon machinery and equipment, and with (c) that
dom from import dutie al taxation except the Federal stamp tax;
meat
tion Mom all direct Feder shall not impose any taxes upon any of theor exnt
the Federal Governme company consumed anywhere in the Republic
district this tax
of the rastro
products
al District, and that in such
ported, except in thej Feder vo per kilo on beef and pork products and
al
cente
1
shall never exceed on sheep and goat products consumed in the Feder
kilo
(a) that all the
2 centevo per
of the tax originally paid;
s
District, this being one-half ings and other properties of the companie
capital, shares, bonds, build of Federal taxes, with the exception of the
every kind
s granted.
shall be free from company also owns tax-exempting concession
.
stamp taxes. This
Vera Cruz and Nuevo Leon
Co.
by the States of Michoacan, Feb. 5 1909 it Is provided (1) the Packingand
of Mexico,
Under 15-year agreement of
n Ltd. in the Republic to act as general
for Lipto
Is appointed sole agentLipton Ltd. (2) Lipton Ltd. are
) of the Packing
may sell all products of
exported (other than hides
sales agents of all products except Mexico.
in all parts of the world New York and Mexico; Sebastian Camacho.
Co
Directors—John W. DeKay, National Bank of Mexico, Mexico); Genof
e I.
First Vice-Pres. (President
of Mexico, Toluca; Georg
nor
ent Breweries Co., St. Louis.—B 16 1908 reduced eral Fernando Gonzalez, GoverAlfarof States de Landa y Escandon, J. F.
Independ
o, Carlo
r, Jersey
Francisco
on Sept.
Ham, Luis Mendez,
and J. R. Turne
can Brewing Co. was
The mortgage of the Ameri unsold bonds for $750,000 being delivered for Uriarte and H. P. Chesiey, all of Mexico City,
000,
.
from $1,250,000 to $500,nt now outstanding is $451,300. The bonds are City, N. J.
o City; Sam H. Buck
$500 and $1,000.
llation. The amou
o City.
W. DeKay, President, Mexic
cance
Officers.—John
due April 1 1923; par $100;
A. Garvin, Sec., Mexic
gold 65, dated 1903 and liens are a $100,000 first mortgage on the Con- Treasurer, 20 Broad St., New York; Chas.
was in January last the
Co. of London
$80,000 first mortgage
g CO.]
The other underlying
[The British & Mexican Trust
Mexican National_Packin
dated Feb. 1 1002, and a
sumers Brewing Co. plant, plant, dated April 1 1902. The Independent largest holder of the bonds and stock of the
Co. below.—Ed.]
Co.
on the Central Brewing
also Mexican National Securities
of its first and general mortgage
[See
g $6,078,100
Brewing Co. has outstandin rred stock and $3,400,000 common stock,
New York City.—Inbonds, $4,599,800 6% prefe
Mexican National Securities Co., rporated in Delaware
Compare V. 85, p. 224.
was inco
y

of The Alaska Consolidated
parties. About 700 acres It is considered one of the
been signed by both
has been experted, and
Copper Co.'s property of the wv rld.
great copper dep, sits the mining,transportation and smelting operations
L. Hirsch & Co., with its
This c6nsolidation of
the advent of a firm like up of Alaska. The road
In this vast area and
means the opening
mous Eur. pean clientele,corp,ration, irrespective of the tonnage from
enor
the new
passento be constructed, byexpected to show large earnings on freight and na and
is
the copper minesthe interior. When fully completed to the Tana
railroad alone will pay
business to
ger
that the earnings of the
Yukon valleys, It is believed tion of the new company. [A press dispatch
aliza
dividends on the capitgives the London capitalists three years in which to
the contract
60-mile branch will
says that
the copper fields and that a
complete the main line to nuska coal fields. Two miles of the Valdez &
be built to the Mata
also
nstructed.—Ed.)
Yukon RR. has been cpr party consists of over 2,500 acres of rich copper
patent and many of
The Hubbard-Elliott
is n w under Government
nd. One-third of this iently to expose millions of dollars in value. A
grou
suffic
the claims are openedplaces the general averageof the ores on Elliott Creek
noted mining expert
at 16% copper.
onds.

corporation.—This compan
orized capital stock to deal
last April with $16',000,000 authtoris, &c.; $7,500,000 is to
abat
in cattle, slaughter houses, corn. stock. The company was
be pref. stock and $8,500,000
Mexican National Packing
incorporated at the instance of the has been done with it.
further
Co. interests, but nothing
k, Ga.—Sale.—See
Mutual Light & Water Co., Brunswic ve.—V. 76,p.438.
ent Co. abo
Brunswick Dock & Improvem
Power Co.—Bonds
Newburgh (N. Y.) Light, Heat & er Calvert and Ger—Sutton, Strother & Co., corn at par and interest
Offered.
and have
We have no bonded debt on account of the greater amount of the increase
are offering
and General Manager man streets, Baltimore, Md.,
Increase was made desirable
s dated Feb. 1 1901
. [Geo. W. King is President
being put into new plant -President and Treasurer.I—V. 83, p. 1174, 1474. $250,000 first mortgage 5% gold bond
1 and Aug. 1
k A. Huber Vice
and Fran
yment of First and due Feb. 11921. Coupons payable Feb. of New York,
as City.—Pa
Metropolitan Water Co., Kans to a decree of the Circuit in New York City. North American Trust Co.
orized,
ant
Mortgage 4% Bonds.—Pursu the District of Kansas, First trustee. Capitalization: First mortgage bonds authat 85%
for
ents
Court of the United States as City, Kansas, has purchased $750,000, reserved for extensions and improvemnture bonds
Division, The City of Kans the property of the company of cost $70,500, outstanding $679,500; debe Dividends at
by condemnation proceedings 1909. The Water Company $200,000, capital stock (full paid) $500,000.
stock.
23
and paid for same on Aug. York Trust Co., 26 Broad St., the rate of 4% are at present being paid upon the 1909.
am R. Beal, June 1
has deposited with the New
cipal and interest
act of Letter from President Willi
1901, which
Abstr
to pay prin
age 5% bonds, dated
New York City, a sufficient sum which date interest ceased.
Referring to the $250,000 first mortg $120,500 of these bonds are to be
on
recently sold, I wish to say that
ituent companies, which
on the bonds to Aug. 23,
bonds for payment we havetake up the 6% bonds of one of the constabsolutely first mortgage
present their
used to
issue will be an
Holders are requested to
88,-p. 1257, 948.
are optional, so that the present
company.—V.
,
bond on the entire property. entire gas and electric system of Newburgh
at the office of the trust
ng
This company supplies the
Co.—Bonds.--This company
es with electricity, servi
Mexican National Packing in 1902 as the United States N. Y., and also six adjacent towns and villag ibutes about 30,000.
Newburgh contr
Jersey
a population of 40,000, of which
31 1908.
was incorporated in New
$28,705
ged in 1906 and its stock subsengs for the Year ending Dec.
mtge
Packing Co. Its name was chan000, consisting of $15,000,000 Gross earningsEarni es_ _$215,83711nt. on after. bds. outst'g__ 52,667
all sourc
said interest_
500,
us
)__ 81,37
quently increased to $22,non-cum. pref. stock, all outstand- Net earnings (after taxesr the gas or2 Surpl department has been sufficient
electric
nts to
The income from eithe
m heating business amou
corn. and $7,500,000 5%
. Par of all shares $100 each. to take care of all fixed charges. The stea
ing except $19,950 common r, 20 Broad St., New York, about $10,000 per annum. obtained control, in 1901, they have com, built subSince the present owners
Col. S. H. Buck, Treasure
ng system in Newburgh 35 miles of
pletely rebuilt the electrical distributi
rs, and about
ions with necessary transforme
on August 26 1909 wrote:
30,
ed upon pri&
ial sub-stat

Co.—See United Water &
Joplin (Mo.) Water Works 79, 503.
„
P.
Co, V.. 87, p. 1092.—V.
Light
Hammond Coal Co. in V. 88,
Kelley Coal Co.—Sale.—See 1470, 423; V. 84, p. 806.
p. 1624, and compare V. 86, p.
el Co.—New Stock.—This
(The) Marion (0.) Steam Shov m shovels, dredges and
y, manufacturer of stead its capital from $1,000,compan
ease
ballast unloaders, recently incr $100 each. A. E. Cheney,
Of
000 to $1,500,000, in shares writes:
Secretary and Sales Manager, a good profit and loss account. The

Sells, June
ns
of the report of Haski
the rastro In the City
This company at the time
$1,356,817. They ownand adjoining property
s),
had in the treasury in cash
they paid 32,500,000 (peso
own the cold storage
of Mexico, for which
000. Besides this, they
which cost about $500, o, which cost about $180,000 (pesos) and many
plant In the City of Mexic the National Markets of Mexico, stock of which
retail shops operated under
can National Packing Co.
ted between our large
is owned by the Mexi
gerator cars which are opera
We also have 50 refri Uruapan and the City of Mexico, ard also a large
modern plant located at
Alm own automobile delivery
at San Luis Potosi.
cold storage plantthing necessary for the proper conduct of the great
about $6,000,000
wagons and every
which has already invested operate 50 new
ess of this company,
o. Also
busin
in the Republic of Mexic
(gold) in the businessors car between Mexico City and other cities of the
broad-gauge refrigerat
Republic.
last May £500,000

in London
There were offered at par packing house) debentures,"
mortgage rastro (or
6% "first
, repayable at 105 on or before
dated 1909, par value £100 payable A. & 0. in sterling
31 1926; coupons
December
a first lien on
These bonds, besides being City of Mexico"
in London.
the
packing house permitted in security $1,500,000
"the only
as part
and on other property, have 000,000 consolidated (now
$10,
of the company's issue of bonds.
to be first mortgage) gold
mortgage dated Nov. 12 1907 and

secured by
The last-named bonds are ble for the sinking fund or otherwise at 105:
par $1,000, $500
are due Jan. 1 1928, but calla , trustee; Interest J. &
J.•.
re Trust Co. of New Yorkauthorized Issue, $5,899,790 is in the hands
Empi
and $100. Of the $10,000,000 the treasury, and $1,500,000 is pledged as
of the public, $2,600,210 is in
.
mtge. bonds dated
part security for the Rastro bonds
0,000 5% 40-year first
The outstanding issue of $2,00 1st mtge. 6% bonds due Jan. 1 1928 at
for
1906 were in part exchanged s for $100 5% bonds, together with a bonus
ent at 110
the rate of $118 75 new bond
0 have been called for paym
New
of 30%; in stock and the final $8,00
Knickerbocker Trust Co., trustee,
and Interest on Jan. 1 1910 at the London, leaving the aforesaid consols
at the fiscal agency in
of the $600,000 issue
York, and
bonds, the remnant
a first lien, except for $60,000 6% are reserved.
of 1905, to retire which consols
6% "first

stant
urgh, for the most part locat
of
transmission line outside of Newb than trebled the gas-making capacity
vate rights of way, and have more doubled the storage capacity and 'inmore than
devoted to
been
the gas department and
of the net earnings has
creased the mileage. A large part y so expended with the proceeds of the
The mone
financing the extensions. $200,000 debenture bonds and certain sums from
of
issue of securities
sale to the stockholders
000, so with the original
other sources amounts to $530, n of the properties at appraised values.
for the acquisitio
500 first mortgage
of $1,000,000
tion against the $679,
there I $1,530,000 asset valua
ed.
perpetual and unrestrict
bonds now outstanding.
number) are
be in a favorable
All of the franchises (six in
condition and should 472.
The property is now In excellent
on.—V. 85, p.
from now
position to increase its earnings
Citizens' Gas &

0o.—See
Omaha Electric Light & Power85, p. 408.
V. 88, p. 233.—V.
Electric Co. in
for
Niagara Falls.—Purchased
Ontario Power Co. of
trustee on Aug. 20 purchased
Sinking Fund.—The mortgagefirst mortgage 5s. The issue
for the sinking fund $22,000 while redeemable on or before
(V.89, p. 352; V. 80, p. 1427), , cannot be called for the
Feb. 1 1913 at 110 and interest be purchased up to a limit
sinking fund, but the bonds must amounts each year. The
ng
of 110 and interest in increasild thus retire half the bonds
sinking fund, it is stated, shou 89, p. 352.
before maturity. Compare V.
Pittsburgh.—Bonds Offered.—
Pittsburgh-Buffalo Co., of Pittsburgh this week, it is
onal Bank
The Mellon Nati
s of an issue of $2,500,000,
stated, offered at par 5% bond le at 105 and interest after
2 1909, but redeemab
dated Aug.
a short term of years.
burgh
the Union Trust Co. of Pitts

to
The new mortgage, which is made aside as a sinking fund from earnings
be set
as trustee, provides that $50,000 are secured by the Mariana properties in
six months. The bonds , said to be appraised at over $9,000,000.
every
Washington County, Pittsburgh
—V. 87, p. 43.
New

Colorado Springs and
e of £500,000
Ray Consolidated Copper Co., Sherwood Aldrich, under
An advertisement offering the issu part:
rastro debentures" said in ie, Vincent W. Yorke and York.—New Stock.—President , Aug. 23 1909, announces
mortgage
York
P. Ogilv
The debentures (trustees: Campbell (a) By a first mortgage upon up- date of 111 Broadway, New
ed:
k of the par value of $10
Sebastian Camacho) are to be secur the City of Mexico, on part of which that the 200,000 shares of new stoc
are
In
wards of 25 acres of freehold land oir permitted by the Government in
stockholders on July 29 1909, ethe only rastro or abatt 00), and upon the rastro plant and each, authorized by the
is erected
450,0
. 7 1909, but not ther
Mexico City (population about rty of the Mexico City Rastro Co., S. A. offered for subscription up to Sept
1909, to the
concessions and the entire prope Mexican National Packing Co.; (b) bY
kholders of record on Aug. 20 ve holdings,
(Ltd.), now acquired by the consolidated (now 1st mtge.) gold bonds after, to all stoc
of their respecti
6%
issue of $10,000,000, of which extent of 26.28% on the amount
a deposit of $2,500,000 of the
time of subCo., part of an
of the Mex. Nat. Packing d and the remaining 12,500,000 are in the treas- at $15 per share, payable $5 per share at the
7
$5.000,000 have been issue of the company to remit weekly to the bankers
1909; $5 on or-before Jan.
7
London) for the exclusive use subscription on or before Sept.
ury; (c) by the covenant
ees (Glyn, Mills, Currie &,Co.,
7 1910; or any of the dethe rastro underowner of
of the trust
1.9104 and $5 on or before March
will be
amount which as the
of this issue the sametax on its meat and otl,er animal products consumed
anticipated. The proceeds ng a
taking, it will pay as a to the Government of Mexico, but not less than ferred payments may be
with a plant, havi er
District
in the Federal
pping the property
h larg
o com- applied to equi
11,000 per week.
packing company and to the rastr
tons per day which is muc ed adThe concessions granted to the
that until Dec. 31 1926— capacity of at least 5,000
. This is deem
rnment of Mexico pro\ idehtered in the City of Mexico
pany by the Gove
goats slaug
than had been previously proposed
and
any, and that no
(a) all the cattle, pigs, sheep
abattoir of the rastro comp
shall be slaughtered in the




AUG. 28 1909.1

THE CHRONICLE

visable by reason of the very rapid development of ore reserves. The purchase of the entire increase of stock has
been underwritten by bankers and the company will enter
orders at once for the additional construction and equipment.
Circulars dated July 15 and Aug. 23 give the following:
The company has been actively engaged for some months past in the
development of its properties, the results of which were set forth in the report of the executive committee mailed to you May 27 1909. The results
of subsequent drilling have confirmed the opinions of the committee as
expressed therein, and the rapid increase of the ore reserves has demonstrated the advisability of equipping the property with a much larger plant,
both mining and milling, than had been previously proposed.
Bonds in amount of $2,643,500 par value out of an authorized issue of
$3,000,000 have been converted into stock, and at the close of business on
Aug. 20 1909 there were issued and outstanding a total of 760,570 shares
($7,605,700) of stock. The apportionment of rights to subscribe to 200,000
shares of increased stock has been made on the basis of allowing each stockholder of record Aug. 20 1909 to subscribe to said increased stock in the
amount of 26.28% of his record holdings at that time. All subscription
warrants must be returned to the company in care of the Morton Trust Co.,
38 Nassau St., New York City, on or before Sept. 7 1909. Delivery of the
stock subscribed for will be made at the office of the trust company upon
receipt of payment in full therefor, and the surrender of the warrant.
[The company was incorporated in Maine in 1907 and it owns some 1,000
acres of mineral lands or rights near Kelvin, Ariz., on the Phoenix & Eastern
RR., water power rights, 6 Yi miles of railroad, &c. When the new stock
has been issued there will be outstanding $9,605,700 of the $10,000,000
capital stock. The only bonds outstanding are the $356,500 8% convertible bonds, the remainder of the $3,000,000 issue dated 1907 and due 1922,
but subject to call on 6 months' notice at 105 and interest; par $500 and
$1,000; interest J. & J. at Morton Trust Co. trustee. The Secretary and
Treasurer is Eugene P. Shore, Colorado Springs, Colo.]

Republic Iron & Steel Co.
-See "Annual Reports."
Subscriptionsfor New Stock.-Blair & Co., who underwrote
the offering of the $4,583,100 unissued preferred stock,
announced on Aug. 20 that the stockholders' right to subscribe expiring on that day had been exercised to such an
extent that the portion remaining for the underwriting
syndicate would be very small. The regular quarterly dividend of 1U% has been declared on the outstanding preferred,
payable Oct. 1 to stockholders of record Sept. 23. Compare
V. 89, p. 290, 476.

533

company. All these lands are located in Angelina, Anderson,
Trinity and Cherokee 'counties, Texas. The mortgage is also a Houston,
first lien
on a modern two-band pine saw mill, with a capacity of
125,000
hours, and on a one-band modern hard-wood saw mill with a feet in ten
65,000 feet in ten hours, erected in 1907, and on a planing millcapacity of
with sufficient capacity to handle in a ten-hours' run the output of the
two saw
cutting day and night; dry kilns, machine-shop, water works, electricmills,
light
plants, dwelling houses and logging railroad. We appraise the market
value of the pine timber at $4 per 1,000 feet, or $1,763,965;
the oak and
other hardwood timber at $3 per 1,000 feet, or $324,001; all
(cost over $630,000) at $400,000: total property covered by other property
this mortgage,
$2,487,966, or considerably more than three times the amount of the bond
issue, taking no account of the value of the 69,339 acres of land owned
in
fee simple for agricultural purposes after the timber has been
removed.
Extracts from Letter of President T. L. L. Temple, Jan. 22 1909.
The proceeds of the bond issue will be used to pay off all
of the company and buy additional timber accessible to our the indebtedness
present holdings.
We claim for the company, based on conservative estimates, 850,000,000
feet of merchantable pine timber, 10 inches and up in diameter,
000,000 feet of line merchantable hard wood, 14 inches and up in and 150,diameter;
and in addition a vast quantity of timber suitable for
railroad ties. The
lands lie mostly in the Neches River Valley, and are very fertile,
although
there is little of it in cultivation, and will not be until the timber is
cut off.
The uplands are well adapted to the growth of fruit, vegetables,
farm products, though they are not so valuable as the bottom and other
lands.
The logs are delivered to the mill by the Texas Southeastern
RR., all
of the stock of which is owned by the officers and stockholders
company. This railroad is a common carrier, and has no bondedof this
debt.
It owns and operates 45 miles of railroad and is equipped with
eight locomotives and 189 cars of different kinds. This railroad connects
with the Houston East & West Texas RR. (Southern Pacific at Diboll
system);
at Lufkin with the Cotton Belt and the Eastern Texas railroads,
Vail* with the Groveton Lufkin & Northern RR. An extension of and at
of main line to Crockett, Texas, on the International & Great 30 miles
Northern
RR., is contemplated; the right-of-way and bonuses are
The lumber company builds and operates the spur tracks already assured.
into
and delivers the logs to the main line, and the railroad makes the timber,
a charge of
$2 per car of 40,000 pounds capacity and $2 50 per car of 60,000 pounds.
Resources and Liabilities Jan. 1 1909.
'Resources ($4,711,277).
Liabilities ($4,711,277).
Cash
$32,145 Accounts payable
$80,358
Bilis and accounts rec'ble__ 256,219 Bills payable
605,352
Merchandise
25,420 Pay-roll and checks outst'g
10,975
Lumber, logs and laths
143,765 Capital stock
1,250,000
Timber (914,798,030 feet
Surplus
2,764,592
at $3 50 per 1,000)
3,201,793
Texas Southeastern Ry
373,359
Plant, logging equip., &c
678,576
Note.
-See Texas Southeastern RR. under "Railroads" above.
I consider that we have one of the best lumber propositions in
the country'
The business was established in 1888 as a distributer
of yellow
was incorporated in 1893, when we began the manufacture ofpine. It
lumber,
with a capital of $50,000, and it has grown to its present size
ment of the earnings, no outside capital having been taken in. by re-investI also own, individually, in Sabine County, Texas, 34,000
acres of long
leaf pine timber lands, estimated to contain 400,000,000
ble long leaf pine timber, and control stock in a mill feet of merchantacompany operating
a new band mill with capacity of 125,000 feet per day,
in four years, and at which time I expect to take over thewhich will cut out
plant
it for the manufacture of my individual timber, adjacent to and operate
this m 11.
[Officers of Southern Pine Lumber Co.: T. L. L. Temple, President;
Wm.Temple. Vice-President: L. D. Gilbert, Secretary and Treasurer.]

Rhode Island Coal Co., Boston.
-New Company to Mine
Coal in Rhode Island-New Process to Make the Coal Ignite.
This company, whose stock was "listed" on the New York
curb on July 20, having previously made its appearance on
the curb in Boston, was incorporated in Maine on Jan. 18
1909 with $5,000,000 capital stock, in$10 shares, of which
$4,000,000 is outstanding, with a majority jointly owned
by Henry M. Whitney and Eugene N. Foss. The company
has acquired the old Cranston coal mine with the mining
Stanislaus Electric Power Co.
-Control of Successor Comright over about 4,000 acres in the town of Portsmouth,
-See that company
R. I., 7 miles from Fall River. It is reopening the mine and pany Held by "Railroads cfc Power Co."
-V. 88, p. 1066.
expects to begin shipments in January next, making the below.
United States Glass Co., Pittsburgh, Pa.
coal ignitable through a chemical process.
-New President.
A prospectus claims for the company "an initial 200,000,000 tons of -Joseph A. Knox has been elected President to succeed
anthracite coal of the best quality for industries and dwellings," two shafts, D. C. Ripley, who retired,
and R. J. Stoney Jr. was elected
total depth 1,600 it. on which $1,000,000 has been spent by its predecesVice-President.
-V. 89, p. 477.
sors and from which "probably 1,000,000 or more tons have been taken
'
in years past." The difficulty, heretofore insurmountable, of making the
United States Packing Co.
-See Mexican National Packing
coal burn, it is asserted, will be overcome through treating it
of
a few cents per ton with crude Chili saltpetre or crude calcium at a cost by Co. above.
-V.83, p. 577.
chloride
a patented process developed by Newell W. Bloss of Brookline and now
controlled by the Coal Treating Co. of Arizona, a company with $5,000,000
Western Union Telegraph Co.
-Report of Master in Suit
capital stock and C. 0. Draper as President. The officers of the Rhode against Telephone
Co.
-See American Telephone & Telegraph
Island company are: Henry M. Whitney, President; J. W. Dennis, VicePres.; W. M. Cameron, Treas.; Richard Hay, Sec.; Nathaniel B. Wales, J. Co. above.
-V. 88, p. 1503.
P. Gardner, Eugene N. Voss, directors. The Federal Trust Co. of Boston
Wichita (Kan.) Water Co.
is registrar; the Security Transfer & Register Co. is Transfer Agent and
-See United Water & Light
Registrar in N. Y. City. Indebtedness, if any, not known.
Co. in V. 87, p. 1092.-V. 85, p. 606.
Rockingham Power Co., N. C.
-Sale Confirmed.-,Judge
Pritchard in the Federal Court at Asheville, N. C., on
-H. T. Holtz & Co., Chicago, have purchased $30,000
August 25 signed a decree confirming the sale at foreclosure Del Rio Tex., school 5% bonds; $10,000 Mooresville,
N. C.,
on July 14 last to the bondholders' committee.
-V. 89, school is; $15,000 Madison County, Ind., gravel road 4
p. 167, 48.
$45,000 Caney, Kan., refunding 41
4s; $20,000 Grand Junction, Colo., refunding 5s; $70,000 Louisiana drainage 5s;
Southern Iron & Steel Co.
-New Stock Certificates Sept. 9. $16,000 Belhaven, N. C. school
6s; $5,000 City of Herrin,
-D. G. Boissevain, Secretary of the reorganization com- Ill., 43
-is; $28,000
Orleans certificate 5s; $10,000 St.
mittee of the Southern Steel Co., announces that certificates Anthony, Idaho, New'
of stock of the new company will be ready for distribution and 6% school city-hall 6s, and $40,000 small issues 5%
bonds.
on and after Sept. 9 to the holders of certificates of deposit
for first mortgage bonds, collateral trust notes, creditors'
-J. Barth & Co., 480 California St., San Francisco, Cal.,
claims and stock on the basis of distribution provided in the stock and bond dealers, have favored us with a copy of
reorganization plan dated May 15 1908, on presentation of "Walker's Manual of California Securities," 1909 edition.
This is the first edition of the book and it sets forth in clear
the certificates to the depositaries.
To Resume Operations.
-A large force of men has been style financial information regarding the various securities
put to work at the Chattanooga plant to prepare the same dealt in on the Stock and Bopd Exchange at San Francisco.
for early resumption. No work has been done for about A range of high and low prices by months for years 1905,
two years.
1906, 1907, 1908 and first three months of 1909 is also in-V. 89, p. 108.
cluded.
Southern Pine Lumber Co. of Texarkana, Ark., and
-Tefft & Co., 5 Nassau St., have issued a circular deDiboll,Texas.-Bonds.-Clark L. Poole & Co., Chicago,some
time ago offered at par and interest the unsold portion scribing New York & Westchester Lighting Co. debenture
of the present issue of $750,000 1st mortgage 6% serial five per cent bonds, due 1954, guaranteed principal and
gold bonds, dated Oct. 11908, denominations, $1,000 and interest by the Consolidated Gas Co. of New York. The
$500 c*, maturing $50,000 semi-annually beginning April 1 circular points out that the market value of the outstanding
1909 and ending April 1 1916, but redeemable at any interest stock of the Consolidated Gas Co., figured at the conservative
period on 60 days' notice at .102 and interest. Principal price of 130, makes an equity behind these bonds of $130,and interest payable at Central Trust Co. of Illinois, trustee, 000,000.
Chicago. Total bonds authorized,$1,000,000 A circular says:
-The Gibson Publishing Co. 15 William St., also Chicago
The company is one of the oldest and most substantial lumber companies and London, have issued a bound catalogue of 40
pages
in the South and its net profits have averaged over $245,000 per year for giving a descriptive list of books
and publications on financial
the past five years, after charging off for timber converted Into lumber an
average of $88,730 per year. The total authorized bond issue is $1,000,000: subjects. Copies will be mailed on request.
present issue, $750,000. The. remaining $250,000, or any part
-William B. Wrenn, a member of the brokerage firm of
may be issued only in part payment for standing merchantabl thereof,
located near to the timber now owned, at 31 50 per 1,000 feet of e timber J. H. Wrenn
pine tim& Co. of Chicago and Secretary of the Chicago
ber and $1 per 1,000 feet of hard-wood timber,acquired and made subject
to the mortgage. Sinking fund for redemption of bonds, $2 50 per 1,000 Stock Exchange, died yesterday after an illness of several
feet of timber cut.
'months.
This mortgage is it first lien on 69.338 acres owned in fee
being estimated by us to contain 353,337,600 feet of pine simple, this land
and 102,014,700
-The firm of Markoe & Morison has been dissolved and
feet of hard wood, and a first lien on standing pine and hard-wood timber
(estimate(i amounts 87,653,700 feet of pine and 5,985,700 feet of hard wood) the business will be continued at the same
offices, at 115
on 18,738 acres the fee title to the lands of which is not owned by the Broadway
, by Harry Markoe Jr.



THE CHRONICLE

534

[VOL. Lxxxxx.

AeTtorts and Ktontinrutti,,,
THE CHESAPEAKE & OHIO RAILWAY COMPANY.
-FOR THE FISCAL YEAR ENDING JUNE 30 1909.
THIRTY-FIRST ANNUAL REPORT
$2,492,663 03
Carried forward
Balance transferred to credit of
$1,519,464 14
Profit and Loss
Amount to credit of Profit and Loss,
$1,174,910 08
June 30 1908
From which have been deducted
Discount on Coal River By., Potts
Creek Branch, Big Sandy By.,
General Funding and ImproveMILEAGE IN OPERATION.
ment Mortgage Bonds sold and
Comparison
premium on Collateral Notes purwith June
chased-less premium on General
30 1908.
$719,800 00
,
5% Bonds sold
Mortgage 43
June 30. Inc.(+)
1909. or Dec.(-) Old Securities and Accounts written
100,659 09
Owned
off-less sundry credits
miles double
820,519 09
Fort Monroe, Va., to Covington, Ky.(287.1
663.1
354,390 99
track)
g (9.5
Richmond to Clifton Forge, Va., via Lynchbur
229.9
$1,873,855 13
miles double track)
100.8
Whitcomb to Winterburn, W. Va
71.6
CAPITAL STOCK AND FUNDED DEBT.
Barboursville to Ethel, W. Va
+2.0
270.1
June 30 1909. June 30 1908.
*Branch Lines in Virginia and West Virginia
102.7
No change
$62,799,100 00 $62,799,100 00
Stock
n, Ky. (1.2 miles double track)-- - - 127.7
Capital
Denton to Lexingto
101,819,000 00 99,768,000 00 +52,051,000 00
Big Sandy Junction to Elkhorn City. Ky
55.5
+1.2 Funded Debt
Branch Lines in Kentucky
$2,051,000 00
$164,618,100 005162,567,100 00
+3.2
1,621.4
•.The increase in Funded Debt of $2,051,000 00 is due to
through Stock Ownership -Covington, Ky.,
Operated
Coy. So Cin. El. RR. and T. & B. Co.
1.8
the issuance of $11,000,000 00 General Funding and Imto Cincinnati, 0.(double track)
63.5
+63.5
provement Mortgage 5% Bonds under the terms of the
Coal River Railway
65.3
+63.5 Mortgage dated January 2d 1909, and $840,000 00 General

Richmond, Va., August 19th 1909.
•
To the Stockholders:
s
The Thirty-first Annual Report of the Board of Director
h subfor the fiscal year ending June 30th 1909 is herewit
mitted:

Leased
-Orange to GorOrange Branch, Southern Railway
donsville, Va
Surphur Mines, Va_ _ _ _
-Mineral to
Sulphur Mines RR.
W V
Keeney's Creek RR.-Nuttall to Lookout,

Mortgage CA% Bonds for second-track construction, and
the cancellation of $9,750,000 General Equipment and Improvement Mortgage 5% Bonds, referred to in last annual
report as collateral pledged for short-term notes, and the
retirement (under Sinking Fund provision) of $39,000 00
Greenbrier Railway First Mortgage 4% Bonds.
Extraordinary expenditures charged to income were as
follows:

9.0
4.0
7.8
20.8

Tracks of Other Companies Used Jointly Baltimore
Washington Terminal Co., Philadelphia
Ry.Washington RR., and Washington Southern
Junction,
Washington, D.C., to Washington Southern
Va. (double track)
to Orange,
Southern Ry.-Washington Southern Jct.
Va. (double track)
-Lexington, Va
Baltimore & Ohio RR.
Glasgow, Va_ _ _
Norfolk & Western Ry.-Loch Laird to to Denton, Ky_
Ashland Coal & Iron Ry.-Ashland Jct. to Louisville,
-Lexington
Louisville & Nashville RR.
Ky. (12 miles double track)

$3,034 13
Business and Other Sidings
11,574 34
Various New Stations and Water Tanks
169,197 49
Filling Trestles, Guyandotte Valley Branch
5,176 43
Ashland Undergrade Crossing
14,529 50
Contributions towards Construction R. R.Y. M. C. A. 131dgs
3,496 24
Reconstructing County Roads and Land Damages
1,736 05
Reconstructing Chickahominy Trestles
Mon84.4
Improvements Richmond and Covington Shops and Fort
2,660 42
roe Terminal
667 25
200.5
Sundry Surveys
377 18
Leonard Block Signals
1,908.0
+66.7
$212,449 03
Grand Total
Total
1,896.6
+56.3
Average mileage operated
COST OF ROAD JUNE 30 1909.
1,707.5
+66.7
4137,815,192 39
The Cost of Road as of June 30 1908 was
First track, owned, operated and leased
200.5
.
Add for Cost of
First track used jointly
304.2
+21.8
$637,295 57
New Second Track
Second track, owned
97.5
934,47083
Second track used jointly
753.9
+19.2 Changes of Line and Grade
.,
165,886 82
Sidings and Yards
Sidings, owned
5,932 15
Shops, Machinery and Tools
3,083.6
+107.7
3,036 54
W. Va
Depots at Lester and Dacota,
Total all tracks
68,446 56
increased by extension of Potts Creek Branch, Jordan Interlocking Block and Other Signals RichMileage "Owned,"
and by extension of Marrowbone Branch, Improvements, Eighth-Street Basin,
1,155 59
Junction to Bess, Va., 2.0 miles;
mond, Va
1,373 32
Hellier to Beddow, Ky., 1.2 miles. ownership" increased by mileage of Water Softening Plant, Covington, Ky_
through stock
Mileage "Operated
8,70921
W. Va., 49.5 miles, and from Water Supply Plant, Huntington, W. Va_
to Clothier,
Coal River By. from St. Albans
17,50000
Bridge, Station, &c., Elkhorn City, Ky
Sproul to Peytona, W. Va., 14 miles.
1,290 08
Bridge and Crossing, 6th Street, Richmond, Va.
2,348 08
Branch, Esmont to Alberene Va
Extension Culvert, Ashland, Ky
• Includes 5.0 miles of Alberene
1,271 99
Telephone Lines
and Albemarle Railroad.
leased to Nelson
380 75
-Big Bend__ _
Additions to Ventilating Plant
Plant at Frazier, W. Va. 1,994 40
THE YEAR ENDING JUNE 30 Quarry Cars for Ballast
GENERAL INCOME ACCOUNT FOR
12,674 07
Real Estate, various places
ISON WITH YEAR ENDING JUNE 30 1908.
1909, AND COMPAR
Increase (+)
$1,863,765 96
Dec.
1908.
1909.
Less:
Operating Revenues42,838 41
$20,885,511 21 $19,571,609 17 +$1,313,902 04
Sundry Credits
1,820,927 55
From Freight Traffic
-838,524 30
5,120,528 63
33
Passenger Traffic_ _ _ 4,482,004 09
-7,261 31
395,714 40
of Mails 388,453
" Transportation
$139,636,119 04
-401 57 Cost of Road,as per Balance Sheet
407,976 18
" Transport'n of Express 407,574 61
+123,314 76
219,357 30
342,672 06
" Other Transportation
COST OF EQUIPMENT JUNE 30 1909.
-3,584 11
128,086 59
124,502 48
" Non-Transportation$14,417,508 48
Cost of Equipment June 30 1908 was
+$787,445 51 The
78 $25,843,272 27
Total Oper. Revenues ..$26,630,717
Add for
of prinaccount
Operating Expenses
-$34,203 46 One-half the amount paid on
$1,005,000 00
0 94 $3,135,354 40
cipal of Equipment Trusts
For Maint. of Way & S,truc. $3,101,15 04
-430,525 87
5,369,463 91
23,862 78
4,938,038
" Maint. of Equipment
-4,914 34 Two Parlor Cars
470,956 76
1,028,862 78
466,042 42
" Traffic
4 03
-442.07
7,770,757 08
7,328,683 05
ation
" Transport
+91,808 48
440,215 02
$15,446,371 26
532,023 50
Balance Sheet
" General
Cost of Equipment, as per
$17,186,747 17 -$819,909 22
Total Oper. Expenses_ _ _$16,366,837 95
Equipment in service June 30th 1909:
66.5%
61.5%
459 Inc. 2
8,656,525 10 +1,607,354 73 Locomotives owned
Net Operating Revenues 10,263,879 83
213
nt Trusts)
Locomotives leased (under Equipme
To which add:
306 Inc. --ii
-53,968 62 Passenger Cars owned
762,831 96
708,863 34
Income from other sources_
17,993 Deo. 52
Freight and Miscellaneous Cars owned
17,205
-$10,972,743 17 $9,419,35706 +$1,553,386 11 Freight Cars leased (under Equipment Trust)
Gross Income
From which deduct:
+$287,481 56
4,168,603 45
01
Fifteen light locomotives were dismantled and the same
Funded Debt__ _ _ 4,456,085 00
Interest,
+10,539 03
791,060 97
801,600
locomopves purchased and
Taxes
-82,399 95 number of consolidation freight
607,346 63
524,946 68
Interest, Equipment Trusts
the excess of value charged to Equipment-Replacement
Account
Interest, General
+38,077 15
411,922 85
450,000 00
Accounts. Two locomotives were received with the Coal
and Collateral Notes_ _ _ _
Rentals, Leased Roads,
+32,867 64 River Railway.
593,781 73
626,649 37
Joint Tracks, &c
Two mail and express, three dining and two parlor cars
Loss on C. & 0. Grain Ele-2,532 91
62,254 92
59,722 01
vator
+41,612 93 were added to the equipment; the cost of the mail and ex41,612 93
Other Deductions
.
and dining cars was charged to Equipment+5325,645 45 press cars
$6,960,616 00 $6,634,970 55
dining cars were converted
Total Deductions
2,784,386 51 +1,227,740 66 Replacement Accounts. Four
$4,012,127 17
Net Income
coach and one combination car were re9.1

78.4
1.0
8.3
21.3

(-).

$4,012,127 17
June 30 1909
From this Net Income for Year ending
There have been deducted
the amount paid on acOne-halt
count of principal of Equipment
$1,005,000 00
Trusts
Extraordinary Expenditures for Im212,449 03
provements
19,400 00
Greenbrier Railway Sinking Fund_ _
pald Dec.
Dividend No. 10, of 1%,
627,907 00
22 1908
Dividend No. 11, of 1%, paid June
627,907 00
28 1909
$2,492,663 03




into coaches; one
ceived with the Coal River Railway.
There were 294 freight and miscellaneous cars dismantled,
and 242 cars added to the equipment, including 15 received
with the Coal River Railway; 507 steel gondola cars have
been purchased for delivery in August. Their cost will be
charged to Equipment-Replacement Accounts. This numreber, added to the 227 so charged during the year, fully
places the number dismantled during the year, and the number short at the close of the previous year.

AUG. 28 1909.1

THE CHRONICLE

Operating Expenses (Maintenan
ce of Equipment) and
Outside Operations (Ferry
Lines, Harbor Terminal Transfers
and Dining and Special
Car Service) were charged and
Equipment
-Replacement Accounts credit
ed as follows:
Balance to credit of the Accoun June
$366,565 29
Charged to Operating Expensestyear 30 1908
ending June 30 1909
For Renewals of Equipment
$230,149 11
For Depreciation of Equipment
564,955 72
795,104 83
Charged to Outside Operations in the
same period:
For Renewals of Equipment
$19,779 39
For Depreciation of Equipment
16,075 17
35,854 58
*1,197,524 68
Add Salvage on Equipment retired
85,584 17
Total amount credited to Equipment Replac
ement Accounts year ending June 30 1909
$1,283,108 85
A ainst this amount charges have been
made:
For cost of 15 locomotives, 227 freight
and 5
passenger cars
$464,247 89
For betterments to 125 gondola cars
6,686 25
470,934 14
Amount remaining to credit Equipment-Re
placement Accounts, June 30 1909
$812,174 71
Amount to be charged as cost of 507 steel
cars, to be received in July and August gondola
1909_ _ _
487,825 26
Balance to credit after providing for the
necessary
Equipment Replacements
$324,349 45
Equipment Trust payments for the
year amounted to
$2,010,000 on account of principal
and $524,946 68 on
account of interest. Under the terms
of the General Funding and Improvement Mortg
age, $1,000,000 of the bonds
issued under said mortgage will be
delivered to your treasury
in reimbursement for one-half
of the principal, and this

535

amount has been charg
ed to Cost of Equipment; the remai
nder has been charged to
Income.
The outstanding Equip
ment Trust Certificates on June 30th
1909 were $12,410,00
0.
Your Directors have author
ized the purchase of thirty-five
freight locomotives, and thirty
-five hundred 50
-ton capacity
steel gondola cars, in
addition to the locomotives and
cars
referred to above. The locom
otives and twenty-two hundr
ed
of the freight cars will be
provided for through Capita
l Account; the balance, thirte
en hundred freight cars, will
be
charged against the Equip
ment
-Replacement Accounts, as a
large number of old coal
cars of twenty-five and thirty
-ton capacity, now obsolete, will be
retired from service during
the
present year. Upon delive
ry of the equipment contra
cted
for, your Company will
have in service twenty
thousand
steel coal cars with a capaci
ty of fifty tons each.
The following comparison
indicates the changes in Equip
ment during a period of nine
years:
June 30 June 30
Equipment owned1909.
1900.
Locomotives
459
Locomotives Ordered
35
494
375 Inc.
Passenger Cars
119
306
221 Inc.
Freight and Miscellaneous Cars
85
17,993
Freight Cars ordered
4,007
22,000 12,371 Inc. 9,629
Equipment Leased under Equip. Trusts
Locomotives
213
____ Inc.
Freight Cars
21$
4,899 Inc. 12,306
Total Equipment owned and leased under17,205
Equipment Trusts
Locomotives
707
375 Inc.
Passenger Cars
332
306
221 Inc.
Freight and Miscellaneous Cars
85
39,205 17,270 Inc. 21,935

EQUIPMENT TRUST OBLIGATIONS JUNE 30TH 1909.
Date of
Agreement.
August 1st 1901

Series.
"A"

August 14th 1902
August 30th 1902
July 20th 1903

"C"

November 16th 1903
December 15th 1904

"
Fr,
"F"

April 1st 1905

"G"

April 2d 1906

"H"

June 1st 1906
August 1st 1906
October 15th 1906

"K"

January 2d 1907
February 1st 1907

"L"
"M"

Total Trust Obligations

Description of
Equipment.
25 Locomotives
1,000 Freight Cars.. _ _ _
25 Locomotives _ _ _
2,210 Freight Cars_ _
1,000 Gondolas (steel).
50 Locomotives _ _ _1
11,000 Gondolas (steel)J
1,000 Gondolas (steel)
20 Locomotives
_
500 Gondolas (steel)
18 Locomotives
1,500 Gondolas (steel)
35 Locomotives
995 Gondolas (steel)
1,000 Gondolas (steel)2,000 Gondolas (steel) _
J
40 Locomotives _ _ _1
11,000 Gondolas (steel)J
2,000 Gondolas (steel) _
2,000 Gondolas (steel) _
J 213 Locomotives
_1
117,205 Freight Cars) _ _

Date of
Final Payment.

Amount Unpaid
June 30th 1908.

Payments Made
Balanc
urtng Year endin , June 30th e
1909.
June 30th 1909.

August 1st 1911 _ _ _

$400,000 00

$100,000 00

August 15th 1912_ _

1,000,000 00

200,000 00

September 1st 1912_
August 1st 1913_ --

800,000 00

450,000 00
1,200,000 00

100,000 00
200,000 00

December 1st 1913 _
December 15th 1914

350,000 00
1,000,000 00

550,000 00
455,000 00

100,000 00
70,000 00

450,000 00
385,000 00

April 1st 1915

1,260,000 00

180.000 oo

1,080,000 00

April 1st 1916

1,280,000 00

160,000 00

1,120,000 00

June 1st 1916
August 1st 191&_ _ _
October 15th 1916_ _

800,000 00
1,615,000 00
1,360,000 00

100,000 00
190,000 00
160,000 00

700,000 00
1,425,000 00
1,200,000 00

January 1st 1917 _ _
February 1st 1917

2,024,000 00
2,026,000 00

226 000 00
224,000 00

1,798,000 00
1,802,000 00

$14,420.000 00

$2,010,000 00

$12,410,000 00

3300,000 00

Equipment Trust payments
charged: $1,005,000 00 to cost of Equipment, and the
balance, $1,005,000. to Income.
FREIGHT TRAFFIC STATI
STICS.
All Lines Operated.
Comparison, with
-June 30 1908
Comparison with
Year Ending
Increase (+) or Per
--June 30 1908
June 30 1909.
Year ending
Decrease (-). Cent.
Inc (+) or
Per No. of passengers carried one mile
June 30 1909.
Decrease (-). Cent
Miles
per mile of road
114,781
1,896.60
-41,025
+56.3
Freight revenue
3.1 Passenger revenue per mile of road_
26.3
$2,363.18
$20,885,511 21 +81,313,902 04
-$419.26 15.1
6.7 Aver, revenue from each passenger_
Per cent of gross revenues
$0.88
78.4
+2.7
$.11
Coal and coke carried (tons)
3.5 Aver, revenue per passenger per
11.1
12,795,786
+1,939,513
17.9
Other freight carried (tons)
mile (cents)
2,059
5,715,576
+31,016
+.273 15.3
Number of tons carried, total
0.5 Aver, number of passengers per
18,511,362
+1,970,529
11.9
Number of tons carried one mile_ _5,095,
train mile
57
552,874
+570,239,660
--14
12.6 Passenger train mileage
19.7
Average miles each ton was carried_
3,817,782
275
--242,736
+1
0.4 Passenger car mileage
Number of tons carried per mile of road
6.0
9,760
--1.916,791
+772
8.6 Passenger train mileage per mile 19,918,828
Number of tons carried one mile per
8.8
of road
mile of road
2,686,677
2,013
+227,689
--193
9.3 Passenger revenue per train mile_ _
8.7
Freight reevnue per mile of road..
$11,012 08
$1.17
+$377 07
--$0.09
3.5 Revenue per passenger train mile,
7.1
Average revenue per ton
$1.12.8
-80.05.5
4.6
Average revenue per ton of coal per
including mall and express
$1.38
--$0.08
5.5
mile (mills)
3.19
-0.07
Average revenue per ton of freight
2.1
• Includes mileage made by light trains.
other than coal per mile (mills)
-6.67
-0.29
Average revenue per ton per mile
4.2
GENERAL REMARKS.
from all freight (mills)
The Net Income for the year,after
4,10
-0.22
Average number of tons per loaded
5.1
providing for all charges,
including interest on Equipment
car
Trust obligations, was
29.7
Average revenue train -load (tons)
+.6
2.1 $4,012,127 17.
__
675
+54
Average train-load, including
8.7
ComDeductions were made as follows:
pany's freight (tons)
707
+55
Average number of loaded cars
8.4 Payments on account of
per
principal of Equipment Trusts
east-bound freight train
$1,005,000 00
Extraordinary Expenditures for
25.9
+7
Average number of empty cars
2.8 Payments on account of Greenbr Improvements
212,449 03
per
ier By. Co.
east-bound freight train
19,400 00
Two Dividends on Common Stock, paid Sinking Fund..
11.4
+1.0
Average number of loaded
Dec. 22 1908 and
9.6
June 28 1909 (1% each)
cars per
west-bound freight train
1,255,814 00
19.5
Average number of empty cars
+1.6
8.9 Leaving a balance to the
per
credit of Profit and Loss
west-bound freight train
$1,519,464 14
17.6
+.8
Average number of loaded cars
The gross and net revenues for the
4.8
in
year are the largest
train
in the history of the Company. The
22.7
+1.4
Average number of empty cars
6.6
business depression
in
during the first half of tile year
train
unfavorably affected the
14.5
+1.1
Total cars per freight train
8.2 gross earnin
gs, but there was a substantial recov
37.2
+2.5
•Miles run by freight trains
7.2
ery in the
+257,064
Miles run by switch and conqtruc- 7,549,759
3.5 latter half.
tion trains
Your Directors authorized a "General
4,151,939
-368,710
Funding and ImFreight car mileage
8.2
280,814,202
+27,680,249
10.9 provement Mortgage" to be placed on your property
Loaded car mileage
to the
171,482,669
+16,184,099
10.4 amount of $30,000,000, bearin
Empty car mileage
109,351,533
g date January 2 1909
+11,516,150
11.8
Freight train mileage per mile of road
and
3,980
running twenty years, and bonds
+17
Freight revenue per freight train mile
0.4
to the amount of $11,$2.76.6
+$0.08.2
3.1 000,000, secured by this mortgage,
were issued, and the proPASSENGER TRAFFIC STATI
ceeds of this sale in part applie
All Lines Operated. STICS.
d to the cancellation of $7,500,000 Six Per Cent Collateral Notes
Comparison with
called for payment
-June 30 1908- July 1 1909; the $9,750,000 Gener
al Equipment and ImYear Ending
Inc.(
or
Per
provement bonds issued as collateral
June 30 1909.
Decrease
for these notes have
Miles
1 ,896.6
+56.3
Passenger revenues
3.1 been canceled, as well as the mortgage for $10,0
$4,482,004.33
00,000
-$638,524.30 12.5 securing the
Per cent of gross revenues
issue.
16.8
-3 0
15.2
Number of passengers carried
5,097,237
General Mortgav 43 per cent bonds
-528.71
No.of passengers carried one mile_ _217,69
1.0
to the amount of
4,041
-66,035,796
24.1 $840,000 00 were issued and $750,
Aver. miles each passenger was car'd
000 00 sold to reimburse
42.71
-12.96
23.3 your treasu
No. of passengers carried per (mile
ry for funds advanced on doubl
of road
e-track work;
2,687
-112
4.0 $90,000 00 of these bonds remain in your
treasury.




•

[VOL. Lxxxix.

THE CHRONICLE

536

, an increase of 8.4 per cent. The
of 2.1
Lee Hall; freight it was 707 tons
track, 4.9 miles between Oriana andeen Light- average tonnage per loaded car was 29.7, an increase ed one
The second
er of tons of revenue freight carri per
revision of grade, 7.1 miles betw
cent. The numb
second track and
6,677, an increase of 9.3
hmond Division); the second track, per
foot and Diascund (Ric Run and Lewis Tunnel; 3.2 miles mile per mile of road was 2,68 7,549,759 miles, an increase
een Jerry's
train mileage was
. Freight
1.1 miles betw
a Falls (Hinton Division), 0.9 cent
between Gauley and Kanawh Lewis (Huntington Division), of 3.5 per cent.
carried, a decrease of 1.0
St. Albans and
There were 5,097,237 passengers
miles between
694,041, a
Creek (Cins between Maysville and Lawrence ation. The per cent. The number carried one mile was 217, $4,482,and 4.6 mile
per cent. Passenger revenue was r train
sion) are completed and in oper
ease of 24.1
cinnati Divi
cent. Total passenge
the double tracking between .decr
change of line and grade and ressing favorably, and should 004 33, a decrease of 12.5 per a decrease of $646,187 18.
$5,278,032 03,
oursville is prog
nues were
Lewis and Barb
n November 1 1909. The con- reve
mile was 2.059 cents, an increase
be completed and in operatio each side of Gladstone Yard Revenue per passenger per of passengers carried one mile per
second track on
. Amber
15.3 per cent
struction of a
ld also be completed Novem- of of road was 114,781, a decrease of 26.3 Per cent. Pasmile
(9 miles) is in progress and shou
6.0 per
was 3,817,782, a decrease of
ber 1 1909.
ng the senger train mileage
7, a deadded to the Coal River Railway duri tern cent. Passenger revenue per train mile was $1.1 it was
The mileage
Raleigh & Southwes
mail and express
year was 12.1 miles and to the 714 16 and $89,862 12, crease of 7.1 per cent; including The above comparisons
of 5.5 per cent.
miles,at a cost of $44,
ease
Railway 8.6
passenger business for
Company bonds to the $1.38, a decr
respectively. Coal River Railwayin the last annual report, are made with the extraordinaryl year, due to the James,000 00, referred to
the preceding fisca
months in
amount of $150
Southwestern Railway Com- several
have been sold. Raleigh & $500,000 00 have been issued town Exposition.
e of Virginia of the local
to the amount of
pany bonds
An adjustment with the Stathas been effected, whereby
been used to
$80,000 00 of these bonds have
within the State
r rates
but not sold;
nts advanced for con- passenge is advanced to two and one-half cents per mile.
reimburse your treasury for amou
referred to in the rate
Martin Erdmann, Thomas
oses and to cancel the notes s are in the
struction purp
On February 11 1909 Messrs. G. Oakman, Samuel Rea
al Report; the remaining bond
P. Green, Walter
er, John
the last Annu
hwestern Railway Company P. Fowl lton McK. Twombly resigned as members of your
treasury of the Raleigh & Sout
and Hami
Henry
W. Castles, Edwin Hawley, and
subject to sale.
bull
tons of re-rolled Board, and Messrs. John
17,554 tons of new and 830 84 tons, or 118.9 E. Huntington Frederic W. Scott, Frank Trum
There were
a total of 18,3
in their stead.
steel rails used in renewals,636.0 miles of main tracks laid Frank A. Vanderlip were elected k Trumbull was elected
k. There are
23 1909 Mr. Fran
On February
miles of trac
per yard; 453.8 miles with 85-lb.;
ctors, and the following
with rails weighing 100 lbs. b. and 70-lb., and 232.0 miles Chairman of the Board of Dire Axtell, First Vice-Presi: Mr. Decatur
with 80-lb., 75-l
intments made
685.1 miles
total of 2,006.9 miles of main appo; Mr. James Steuart Mackie, Secretary and Treasurer;
dent
with rails of lighter weight; a .
E. Potts,
ford, Assistant Secretary; Mr. C.ral Attorincluding branch lines
track,
maintaining existing Mr. C. E. Well
were 1,109,074 ties used in , a total of 1,287,299. Assistant Treasurer, and Mr. A. C. Rearick, Gene
There
construction
tracks and 178,225 in new of ballast used (principally stone), ney.
kham resigned as a
were 666,651 yards
On March 18 1909 Mr. Henry T. Wic
There
Dooley was
construction work.
h 166,413 yards were used inmotives, 287 passenger- member of your Board, and Major James H.
of whic
irs were made to 700 locoain cars. The average elected in his stead.
Repa
intments were made
ht-tr
On June 18 1909 the following appo
train cars and 87,817 freig ve operated was $2,113 12,
effective July 1
expended per locomoti
t and confirmed by the Board,nt and General
amount
and per freight car op- by the Presiden
enger car operated $819 26 of freight cars operated 1909: Mr. Henry T. Wickham, Vice-President and General
per pass
-Preside
capacity
erated $63 24. The average tractive power of freight loco- Counsel; Mr. Chas. E. Doyle, Vice , Vice-President and
tons, and the average
and Mr. Frank M. Whitaker
Manager,
is 43.6
motives 33,926 pounds. age increased 17.9 per cent; other Traffic Manager.
officers and employees
and coke tonn
The coal
Acknowledgements are due to all
the year.
cent. The total tonnage
tonnage increased 0.5 per 11.9 per cent. The ton for faithful and efficient service during
freight
11,362 tons, an increase of of 12.6 per cent. The
order of the Board of Directors, STEVENS,
By
was 18,5
increase
GEO. W.
miles were 5,095,552,874, an
President.
ease of 5.1 per cent.
revenue was 4.10 mills, a decr 6.6,. an increase of
ton mile
$2.7
per freight train mile was per train was 675, an
TRUMBULL,
FRANK
Revenue
tonnage
Chairman.
3.1 per cent. The revenue per cent; including company's
54 tons, or 8.7
increase of
30TH 1909.
GENERAL BALANCE SHEET JUNE
Comparison with
June 30th 1908.
Decrease.
Increase.

ASSETS.
--------------------------- $139,636,119 94
15,446,371 26
_
481,700 42

---------------------------------_
Cost of Road ____ t
of Equipmen
Cost
Branch
Construction-Potts Creek

Bonds Owned
mortgage 4% Bonds
Big Sandy Railway, first ay, Potts Creek Branch, first mortgage 4% Bonds s
Railw
Chesapeake So Ohio Railway General Equipment and Improvement 5% Bond
Ohio
6% Bonds
,
Chesapeake ec
ay General Mortgage 43
Chesapeake Se Ohio Railw
Other Bonds
Stocks owned
Companies
Fund)
Advances to Controlled
(unexpended balance of Second Track
Special Cash Deposit (unexpended balance of Potts Creek Branch Fund)
Special Cash Deposit with 'Trustees
Special Cash Deposit
less amount charged to Income
Total Invested Assets
covered by Trust Agreements,
Cost of New Equipment
cent Series A Gold
and Capital Account
with interest due to date, of Six per
ption
Special Deposits, for redem Series B (and Scrip) Bonds due July i 1008 Collateral Gold
cent
per cent
Interest Six per
Bonds and Six
ption at 102 and Accrued
Special Deposit, for redem per cent Notes, called for payment July 1 1909
and Collateral Gold Six
Current Assets
Cash in hands of Treasurer est and Dividends
Cash on Deposit to pay Inter pment Trust principal due July 1 1909
Equi
Cash on Deposit to pay
ctors
Due from Agents and Condu
iduals and Companies
Due from Indiv
Traffic Balances
Bills Receivable
Materials and Sup ______
Sundry Accounts

$1,820,927 55
1,028,862 78
1,756 79
91 62
$155,564,1
$771,000 00
300,000 00
9,750,000 00
91,000 00

91,000 00
3,028,401 00

3,119,401 00
2,790,898 65
1,262,787 18
517,500 00
36,595 04
35,160 47

144,834 28

184,084 91
127,737 88
517,500 00
36,595 04

148,049 06

$163,326,533 96

$7,305,418 39

12,410,000 00

2,010,000 00

16,784 91

2,026,702 80

6,615,000 00 6,615,000 00
1,696,289 93
182,339 50
113,000 00
582,003 77
12,175 13
284,363 47

$3,894,002 15
608,710 06
113,000 00
1,372,604 10
520,472 05
825,049 01
1,588,702 68
132,156 28

27,220 00
252,902 94

132,15628
9,054,696 33 $2,722,205 14
$191,423,015 20

$2,004,916 05

Total
LIABILITIES.
Capital Stock, Common rred _
First Prefe
"_
Second Preferred

$62,790,700 00
7,700 00
700 00

00
----------1939 $27,858,000
Funded Debt
Bonds------------------------------ ---------1992 44,413,000 00
First Consolidated Mortgage, 5%
- ------------------------- ---------1911
2,000,000 00
,
_ -age, 4 yi% Bonds---General Mortg
6% Bonds----------- _ --142,000 00
1922
First Mortgage, Peninsula Division, to Old Point Comfort, doe., 6%; Bonds
1989
6,000,000 00
First Mortgage, line Newport News
s
1,000,000 00
1989
A. Division, 4% Bond s
First Mortgage, Et. Se
650,000 00
011, 4% Bond
1940
Second Mortgage, R. & A. DIVISI h, 5% Bonds
400,000 00
1941
First Mortgage, Craig Valley Branc y Branch, 57 Bonds
0
339,000 00
gs Valle
1942
First Mortgage, Warm Sprin N. River RR. 5% Bonds
200,000 00
1915
First Mortgage, Greenbrier &Co., 5% Bonds _ _
1,921,000 00
1940
age, Kineon Coal
First Mortg
525,000 00
Railway, 4% Bonds
1945
First Mortgage, Greenbrier Branch, 4% Bonds
4,771,000 00
1944
First Mortgage,'Palnt CreekRailway. 4% Bonds
age, Big Sandy
First Mortg




$62,799,100 00
$840,000 00

39,000 00

THE CHRONICLE

AUG. 28 1909.j

537
Comparison with
June 30th 1908.

LIABILITIES.

Increase.
First Mortgage Potts Creek Branch, 4% Bonds
General Equipment and Improvement, 5% Bonds
General Funding and Improvement, 5% Bonds

1946
1917
1929

Decrease.

$600,000 00
$9,750,000 00

11,000,000 00
$101,819,000 00

311.000000 00
2,051,000 00

Total Capital Stock and Funded Debt
Balance duo on New Equipment covered by Trust Agreements
Six per cent Series A Gold Bonds and Six per cent Series B (and Scrip) Bonds, due July 1
1908 and Interest thereon
Six per cent Collateral Notes and Premium and Interest thereon called for payment July 1
1909
Loans and Bills Payable
Equipment Replacement Accounts
Current Liabilities
Interest Accrued
Unpaid Interest, including that due July 1 1908
Dividends Uncollected by Shareholders
Unpaid Vouchers and Pay-Rolls
Traffic Balances
Taxes Accrued
Sundry Accounts

$164,618 100 00 $2,051,000 00
12,410,000 00
2,010,000 00
16,784 91
6,615,000 00
52,150 00
812,174 71
$1,156,917 91
559,663 06
49,677 00
2,659,902 38
245,517 11
353,272 99

1,996,569 26
885,000 00
1,497,272 17
445,609 42
77,379 23
107,284 96
45,551 00
1,102,653 72
85.998 71
35,22624
110,974 49

5,024,950 45 1,188,370 91
1,873,855 13 $698,945 05

Profit and Loss
Total

$191,423,015 20

$2,004,916 05

This Company is also liable as a guarantor of the
C. & 0. Grain Elevator Co., first mortgage
Coal River Railway Co., first mortgage
Norfolk Terminal & Transportation Co., first mortgage
Raleigh & Southwestern Railway Co., first mortgage
Western Pocahontas Corporation, first mortgage
Western Pocahontas Corporation, Extension Mortgage No. 1
Western Pocahontas Corporation, Extension Mortgage No. 2
Louisville & Jeffersonville Bridge Co., first mortgage (C. & 0. Proportion, 1-3)
Richmond-Washington Co., Collateral Trust Mortgage (C. & 0. Proportion, 1-6)

$820,000 00
2,250,000 00
500,000 00
750,000 00
750,000 00
114,000 00
51.000 00
4.500,000 00
9,500.000 00
L. F. SULLIVAN, Comptroller.

CENTRAL OF GEORGIA RAILWAY COMPANY.
FOURTEENTH ANNUAL REPORT-FOR THE YEAR ENDED JUNE 30 1909.
Savannah, Ga., July 31 1909.
To the Stockholders:
The Directors submit the following report upon the
operations of the Company for the year ended June 30 1909
and its financial condition at that date:

FINANCIAL CONDITION.

Total operating revenues411,155,182 31 $11,383,013 41 --$227,831 10
Operating expenses
7,862,036 32
656,941 30
8,518,977 62

Capital Stock
$5,000,000 00
Funded Debt
51,653,000 00 $240,000 00
Short Term Notes
650,000 00
Equipment Trust Obligations_ __ _ 3,176,617 50
$694,630 00
Reserve from Sale of Consolidated
Mortgage Bonds
344,623 26 30-1,305 55
Interest, Rentals and Taxes accrued, not due
621,847 43
_
1 -1:1 7 97
6214 25
Fire Insurance Reserve
114,726 06
Other Reserves from Income
391,728 00 2-11.i"21.08
:
Sundry Accounts
19.569 45
:.519 718
Current Liabilities
1,308,147 7::
1,251 98
Surplus from Previous Years. _
187,494 6:-.
.
----Total ___ _
$63,767,754 16
85,,A,, f',1

Comparison with
--June 30 1908
-AssetsJune 30 1909: Increase.
Decrease.
Property and Investments Capitalized
$56.479,614 11 $244,305 55
Bonds Pledged under Short-Term
INCOME ACCOUNT.
Notes
650,000 00
Investments not Pledged
516,719 39
12,484 40
Increase (-I-) or Equipment under Trusts
3,176,617 50
$694,630 00
Revenuefrom Transportation:
1909.
Decrease (-).' Materials and Supplies
1908.
648,672 59
56, -97
683
30 Deferred Assets
Freight revenue
$7,430,496 80 $7,539,612 10 -$109,115
240,764 59
51,765 01
Passenger serv. train rev_
3,280,529 71
3,399,639 60 -119,10989 Empire Land Co
587,563 71 133,198 43
Other transportation reveCurrent Assets
1,467,802 27 202,809 70
nue
+13,008 78 Profit and Loss
190,782 81
177,774 03
Total
$10,901,809 32 $11,117,025 73 -$215,216 41
Total
$63,767,754 16
$3,209 93
Revenue from operations
other than transportation_
-12,614 60
253,372 99
265,987 68
Liabilities--

Operating expenses-percentage of total operating revenues

(70.48)

(74.84)

Net operating revenue
$3,293,145 99
Net revenue from outside
operations
61,547 91

$2,864,035 79 +3420,110 20

Total net revenue
Taxes

$2,927,32076 +3427,373 14
445,828 59
+41,998 35

$3,354,693 90
487,826 94
$2,866,866 96
720,655 93
_
$3,587,522 89

Operating income
Other income
Total income

Deductions:
Interest on equipment trust
$157,222 48
obligations
Interest on funded debt
1,788,121 67
fixed
32,500 00
Interest on short-term notes
Rents of leased lines and
483,420 58
other property
Expended for betterments
677,566 78
Reserved for betterments_
159,534 67
Upper Cahaba
Branch
Bonds
-matured
30,000 00
Greenville & Newnan Main
Line Bonds-matured.._
30,000 00
Taxes on W. By. of Ala.
stock and C. & W. C.
By. Co. bonds for period
prior to July 1 1908__ _ _
213,502 50
Miscellaneous
12,984 19
Total

$3,584,861 87

Net Income
Net Loss
Charged direct to Profit and
Loss Account
Credited direct to Profit and
Loss Account

83,284 97

32,481,492 17
392,122 85

-1.73708

+385,374 79
+328,533 08

$2,873,615 02 +3713,907 87

$178,443 12

--$21,220 64

1,788,598 07
32,50000

--476 40

478,43389
324,767 75

+4,995 69
+352,799 03
+159,534 67

30,000 00
30,000 00

+213,50250
--3,314 44

'
16 298 63
$2,879,041 46 +3705,820 41

$2,661 02
$5,426 44}

+38,087 46
--4,589 43

2,661 02
1.928 41j

Balance in Profit and Loss
+33,498 03
Dr. $3,408 03
Account
Nete.-In the account of income available for interest on Income Mort-gages there are added to Operating Expenses as above stated the following
items:
Payment for cotton destroyed by fire at Columbus, Ga., November 1905, as per judgment rendered
$69,943 06
Additional charge to Operating Expenses for renewal Of equip149,558 90
ment
PROFIT AND LOSS ACCOUNT.
Dr.
$3,498 03
Deficit for the year ended June 30 1008
Received from individuals and companies for sidetracks, &c., constructed during the year
The net credit from operations for this fiscal year was_

rc,



Cr.
$837 01
2,661 02

$3,498 03 $3,408 03

The Company has no floating debt.
The increase in Property and Inve,t:1,-1,1!. Ca pita lized is
explained as follows:
Betterments to be made with the reserve from Csu:1, 1;.1..ted
Mortgage Bonds sold during the year
_
$200,000 00
Adjustment of the charge to this account in tl,e '!i-%1
ir.
4,305 55
Total
_$304,305 55
Less charged off on account of Greenville & Newnan Main) Line
and Upper Cahaba Branch I3onds, matured, paid and canceled
_ 60,000 00
Net Increase_ _
3241,305 55

The increase in Investments not Pledged is explained as
follows:
Rails and fastenings under lease
_
Purchase of additional stock and payments on account of stock
owned
- - --- Total Increase

_

34,797 43
7,686 97
$12,484 40
_

The decrease in Equipment Under Trusts represents the
equity in equipment under trusts, acquired during the
year through the payment of Equipment Trust Obligations.
The increase in Materials and Supplies is shown in detail
in the Comptroller's report.
The increase in Deferred and Current Assets is shown in
detail on the general balance sheet in the Comptroller's report.
The increase in Funded Debt represents $300,000 00 of
Consolidated Mortgage Bonds sold to provide funds for
betterments, less $30,000 00 of Upper Cahaba Branch Bonds,
and $30,000 00 of Greenville & Newnan Main Line Bonds,
matured, paid and canceled.
The decrease in Equipment Trust Obligations represents
the obligations paid or retired during the year, as shown
by the following table:

THE CHRONICLE

538

R1[VOL. Lxxxix.

PRINCIPAL OF EQUIPMENT TRUST OBLIGATIONS.
Date of 2'rusi.

Equipment.
Original Issue.

-Sept. 2 1902

Nov. 2 1903
(Trust "D")

Jan. 3 1905
(Trust "F")
Jan. 15 1905
(Trust "G")
Feb. 1 1906
(Trust "H")
July 2 1906
(Trust "I")
Mar. 1 1907
(Trust "K")

500 Box Cars
5 Passenger Locomotives
15 Freight Locomotives
3 Sleeping Cars
3 1st class Passenger Coaches_ _
,
3 2nd class Passenger Coaches__ _
200 Box Cars
800 Coal Cars
5 Passenger Locomotives
15 Freight Locomotives
1
500 Ventilated Box Cars
500 Ventilated Box Cars
450 Ventilated Box Cars
500 Coal Cars
400 Flat Cars
50 Ballast Cars
10 Passenger Locomotives
1
30 Freight Locomotives
i
514 Box Cars
1,000 Coal Cars
25 Freight Locomotives
1
1500 Box Cars
Total

Paid Prior
to
July 1 1908.

Paid During 12
Months Ended
June 30 1909.

Outstanding.

$288,000 00

$198,000 00

$36,000 00

$54,000 00

Sept. 1 1910

938,000 00

598,000 00

139,000 00

201,000 00

Nov. 1 1910

462,000 00

198,000 00

66,000 00

198,000 00

Jan. 1 1912

22a,150 00

155,902 50

45,630 00

26,617 50

Jan. 15 1910

1,020,000 00

204,000 00

102,000 00

714,000 00

Feb. 1 1916

1,950,000 00

345,000 00

230,000 00,

1,375,000 00

July 1 1916

760,000 00

76,000 00

76,000 00

608,000 00

Mar. 1 1917

$5,646,150 00

$1,774,902 50

$694,630 00

$3,176,617 50

Date of
Final
Payment.

•

The Reserve from sale of Consolidated Mortgage Bonds
represents the unexpended balance of the par value of
$1,000,000 00 of Consolidated Mortgage Bonds sold in pre$44,623 26
vious year
and of $300,000 00 of Consolidated Mort300,000 00
gage Bonds sold during the current year
---$344,623 26
On a portion of the property the Company carries its own
fire risks, charging Operating Expenses and crediting Fire
Insurance Reserve with amounts approximating what it
would otherwise have to pay in insurance premiums, together with an amount equal to the insurance premiums
actually paid. The decrease in the Fire Insurance Reserve
is explained as follows:
Dr.
Cr.
$129,941 03
Balance July 1 1908
128,000 00
Twelve months' approximated premiums
3,317 43
Insured losses recovered
$5,092 33
Equipment burned
7,379 04
Sundry fire losses on freight and property
•Cotton destroyed by fire at Columbus, Ga., Nov.
69,943 06
16 1905
Premiums paid, actual insurance.._ 491,637 91
Less premiums prepaid at June 30 1909_ 27,519 94
64,117 97
114,726 06
Balance, June 30 1909

than for the preceding year. A dividend of $15 00 per share
on the capital stock of the Company was declared from the
Income for the year.
Two of the older steamships, the "Kansas City" and the
"Chattahoochee," were sold during the year and two new
steamships were contracted for, to be delivered in 1910.
Facilities for coaling our ships at Savannah are being constructed, and will be completed and in operation at an early
date, which will result in increased coal tonnage to Savannah
by the Central Railway.
:

GENERAL REMARKS.

We have resumed construction of the extensive shop improvements at Macon mentioned in the last Annual Report,
and the work is well under way. The engine terminal will
be completed by September 1st, and it is hoped the entire
plant will be finished in the present fiscal year.
•
The $300,000 00 of Consolidated Mortgage Bonds, mentioned in the last Annual Report, were sold during the year.
This completes the sale of the $2,000,000 00 of these bonds
reserved under the Consolidated Mortgage for Betterments.
A dividend of $300,000 00 was received on the capital
stock of the Ocean Steamship Company of Savannah and
was credited to Income Account.
$261,25846 $261,258 46
A compromise settlement was made during the year of
the Trustees of the Income Mort- suits against the company for losses on cotton by fire at
• In the Income statement furnished
gages the payment for cotton destroyed by fire at Columbus, Ga., Nov. 16 Columbus on
November 16 1905 by the payment of $69,1905 is included in Operating Expenses.
943 06 and interest. On the books of the Railway Company
property have been $69,943 06 has been charged to the Fire Insurance Reserve,
NtExpenditures for Betterments to the
but will be included in Operating Expenses in the statement
made during the year and charged to Income, as follows:
$1,746 98 rendered to the Trustees of the Income Mortgages, which
Right of way and station grounds-Credit
1,488 00
Real Estate
1,80772 will also differ from the books of the company and from this
Widening cuts and fills
1,688 28 Annual Report in that the amount reserved for betterments
Bridges, trestles and culverts
23,134 16 will be
Increased weight of rail
shown to be $89,591 61, being $69,943 06 less than
8,933 72
Ballast
198 81 the amount appearing on the Company's books.
Side and spur tracks-Credit
1,541 77
Terminal yards
The Operating Revenue for the year was $227,831 10 less
2,298 64
Interlocking apparatus
149 82 than for the preceding year, of which $119,109 89 was in
Block and other signal apparatus
480 00 passenger train
Telegraph and telephone lines
revenue, due to reduced passenger rates.
11,033 89'
Station buildings and fixtures
New shops at Macon, including machinery and tools therefor_ _ 206,970 98 Attention is called to the decrease of $656,941 30 in Operating
2,223 75 Expenses, which is the result of economies in tho Transpormachinery, &c
Other shops,
504 86
Water and fuel stations
3,272 21 tation Department, as the charge to Operating Expenses
Storage warehouses
1,207 66 for the maintenance of the property was $59,071 18 more
Miscellaneous structures
$264,787 67 than in the preceding year.
Total Way and Structures
Attention is called to the report of the General Manager,
$12,602 72
Electric headlights and other betterments of locomotives
173,503 26 covering the operation and physical condition of the property,
Twenty-four new passenger cars
' 27,467 85 and to the report of the Comptroller with respect to financial
passenger cars
Rebuilding freight and
70 74
Refund on new equipment previously charged off-Credit_ _ _ _
condition and to results of operation in detail, and for staPayments of principal of equipment trust notes 4694,630 00
tistics as to operation and traffic.
Less Equipment Replacement Reserve created during the year under the rules of the Inter-State
The Company's accounts have been examined by Messrs.
495,353 98
Commerce Commission
199,276 02 Haskins & Sells, Certified Public Accountants, and a copy
their certificate appears on page 16 [see pamphlet report].
$412,779 11 of
Total Equipment
Acknowledgment is made to officers and employees for
$677,566 78 faithful and efficient
Total expended, Way and Structures and Equipment
service.
There has been reserved from Income for Betterments to be
Respectfully submitted,
150,534 67
made in the future
By order of the Board of Directors,
$837,101 45
Total charged to Income for Betterments
J. F. HANSON,
OCEAN STEAMSHIP COMPANY OF SAVANNAH.

President.

The results from the operations of the Steamship Company were satisfactory, although the Net Income was less

[Comparative Balance Sheet, &c., will be found on a previous page
under "Annual Reports."]

-The 1909 volume of "Reports of Fire Insurance Companies" has been issued from the press of The Spectator
Co., 135 William St., New York, and presents a vast amount
of condensed information concerning nearly 900 fire and
marine insurance companies and Lloyds associations, and
about 200 casualty and miscellaneous insurance companies.
The scope of this valuable reference book may be gathered
from the following brief resume of the data given for the
respective companies:
'
Name; location; presidents' and secretarys names; year
organized; comparative statistics for five years (mutual
companies three years), showing assets, unearned premiums,
net surplus, net premiums, total income, losses paid, dividends, expenses, total expenditures, losses incurred; detailed
statement of assets and liabilities Dec. 311908; capital; surplus; risks and premiums in force; premiums, losses and
dividends since organization; description of real estate
holdings, and of mortgage loans; list of collateral loans and

securities held thereon; list of bonds and stocks owned, with
the respective par and market values of each item, and with
total book, par and market values; historical summary
showing severe conflagration losses, changes in capital,
contributions by stockholders, &c.; list of directors; list of
department managers, general and special agents, with
territory covered.
In addition to the foregoing information concenning
licensed American and foreign stock and mutual companies, there are departments devoted to "
Underwriters'
Agencies," "Lloyds and Reciprocal Underwriters' Associa"
tions, "Unlicensed American Fire Insurance Companies,"
and "Unlicensed Foreign Fire and. Marine Companies," as
well as one covering the essential statistics for a number of
years of casualty, surety and miscellaneous insurance companies operating in the United States.
"Reports of Fire Insurance Companies" is a book of 457
pages; price, $5.




THE CHRONICLE

AUG. 28 1909. ,

539

BROOKLYN RAPID TRANSIT COMPANY.
ANNUAL REPORT FOR THE YEAR ENDING JUNE 30 1909.
85 Clinton Street, Brooklyn, N. V., August 25th, 1909.
COMPARATIVE STATEMENT OF THE RESULTS OF THE OPERATIONS OF THE BROOKLYN RAPID TRANSIT SYSTEM
FOR YEARS ENDING JUNE 80 1909-1908.
Increase (+) or
1908.
1909.
Dec.(-)
•
5
Gross Earnings from Operat'n_19,694,462 11 19,870,566 55 --176,104 44
11,394,654 66 11,939,578 59 -544,923 03
Operating Expenses
Net Earnings from Operat'n 8,299,807 45
605,817 21
Income from Other Sources...._

7,930,987 96
677,823 04

+368,819 49
--72,006 73

8,905,624 66
Total Income
Less Taxes and Fixed Charges_ 6,969,015 59

8,608,811 90
6,534,938 62

4-296,812 76
+434,076 07

1,936,609 07
Net Income
Out of which was taken for
Betterments and Additions
to Property
65,42982

2,073,873 28

--137,264 21

229,781 18

Of this amount there has been
appropriated:
For Discount on Bonds Sold
For Depreciation in Securities comprising Guaranty
Fund
Old accounts written off,&c.
For additional reserve on account of Special Franchise
and Real Estate Taxes in
litigation
Expenses of prior years adjusted since June 30 1908..
Loss due to changes, Brighton Line, Fulton to St.
Marks, and on discarded
materials, &c
Dividend of 2% on Stock
outstanding

--164,351 36

1,871,179 25
Surplus for the Year..
Surplus at June 30 1908-1907 3,853,459 90
Surplus June 30 1909,4nd June
5,724,639 15
30 1908

1,844,092 10
3,734,006 48

Increase(+) or
Dec.(-).

1908.

1909.

89,575 00

1,457,173 42 -1,367,598 42
230,335 00
16,630 26

8,72753

-250,835 00
-7,902 73

238,457 25

+238,457 25

20,19724

+20.19724

83,376 29

+83,376 29

897,076 00

+897,076 00

+27,087 15
+119,453 42

1,337,409 31

1,724,638 68"

-387,229 37

+146,540 57

5,578,098 58

Total Appropriations

Balance. Surplus, June 30 1909
and June 30 1908
4,387,229 84

3,853,459 90

+533,769 94

TAX CHARGES FOR THE FISCAL YEARS ENDING JUNE 30 1902-1909, BOTH INCLUSIVE.
1909.
Real Estate
Special Franchise
Tax on Earnings
Car License
Capital Stock
Bridge Licenses

1908.

1907.

1906.

1905.

1904.

1903.

1902.

$307,107 28
464,526 01
220,501 05
26,589 95
55,890 00
263,005 85

5187,975 66
222,517 50
217,866 06
26,051 53
55,870 00
219,726 72

$178,744 60
224,980 00
214,936 14
25,138 51
53,790 00
196,193 19

$178,709 94
215,90000
204,497 39
23,598 32
67,514 96
192,641 41

$185,722 39
205,800 00
174,592 05
21,93502
63,613 13
176,288 55

$174,987 51
187,800 00
160,863 40
22.469 00
36,561 87
165,576 53

$146,400 00
187,800 00
147,824 26
21,824 32
90,131 20
163,808 63

$138,000 00
187,800 00
146,443 30
20,773 33
81,600 00
168,200 68

$1,337,620 14

$930,007 47

5893,782 44

$882,862 02

$827,951 14

5748,258 31

$757,788 41

$742,817 31

CONSTRUCTION EXPENDITURES FOR THE FISCAL YEARS ENDING JUNE 30 1902-1909, BOTH INCLUSIVE.
1909.
Right of Way
Track and Roadway
Eletric Line
Real Estate
Buildings and Fixtures
Power Plant
Shop Tools and Machinery
Cars and Electrical Equipment
Miscellaneous Equipment
Miscellaneous
•••_A

1908.

1907.

1906.

July 1 1902
to
June 30 1904.

1905.

Total.

$25,177 32
525,302 13
$84,784 72
593,459 87 $166,075 83 $499,894 99
$894,694 86
492,756 10 1,607,618 11 1,934,453 57 1,286,718 68 1,311,451 97
809,097 01
7.442,095 44
520,795 80
83,180 92
495,688 36
384,811 55
438,467 54
548,675 15 2,480,619 32
48,117 30
29,122 52
37,367 20
168,804 64
134,851 60
678,422 86 1,096,686 12
465,501 51
258,498 27
728,209 56 1,111,659 50
828,584 84
501,660 13 3,894,113 81
901,956 78 1,948,252 38 1,434,318 86 1,718,398 38
387,948 26 2,731,606 02 9,122,480 68
11,150 35
15,278 45
134;623 73
19,878 50
106,397 75
925 00
288,253 78
154,613 03 1,821,970 47
762,787 39 3,460.833 93 2,254,050 20 4,059,118 11 12,513,373 13
4,86310
1,052 65
13,166 48
46,480 63
35,995 39
35,130 77
136,689 02
18,323 14
5,286 82
16,867 90
39,210 48
77,786 17
44,062 40
201,536 91

•

Am., 0.0 40 on Ana AmnAg OK nA0 400
.,
,p
pp

04

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COMPARATIVE STATISTICS FOR THE FISCAL YEARS ENDING JUNE 30 1902-1909, BOTH INCLUSIVE.
1909.
Passenger EarningsSurface Division
Elevated Division

1908.

1907.

$
$
$
11,645,569 11,593,992 11,323,084
7,413,124
7,386,172 7,120,899
--19,058,693 18,930,164 18,443,983
635,769
040,403
937,609
605,817
677,824
555,166
--20,300,279 20,548,391 19,936,753
11,460,084 12,169,360 11,907,768

Total Passenger Earnings
Freight, Mail and Express, ece
Other Earnings
Total Earnings
Operating Charges

1906

1905.

$
$
11,531,125 10,345,112
6,055,507 5,304,289

1904.
$
9,757,629
4,671,917

1903.
$
9,284,157
3,802,683

1902.
$
9,049,229
3,272,036

17,586,722 15,649,401 14,429,546 13,086,840 12,321,265
886,606
684,044
309,163
193,481
189,357
323,935
252,135
211,853
277,493
252,046
18,797,263 16,585,580 14,950,562 13,557,814 12,762,668
11,021,720 10,257,155 9,144,145 8,139,562 8,268,325

Net Income

8,840,195

8,370,031

8,028,985

7,775,543

6,328,425

5,806,417

5,418,252

4,494,343

Taxes
Interest and Rentals

1,337,620
5,631,396

930,008
5,604,931

893,783
5,132,604

882,862
4,730,072

827,951
4,350,540

748,258
4,052,957

757,788
3,904,068

742,817
3,732,633

6,969,016

0,534,039

6,026,387

5,612,934

5,178,491

4,801,215

4,661,856

4,475,450

1,871,179

1,844,092

2,002,598

2,162,609

1,149,934

1,005,202

756,396

3.60 cts.
.23 "
3.83 "

3.68 cts.
.31 "
3.99 "

3.60 cts.
29 "
3.89 "

3.88 cts.
.27 "
4.15 "

4.04 cts.
.24 "
4.28 "

3.99 eta.
.14
4.13 "

3.87 Os.
.14
4.01 "

3.83 cts.
.14
3.97 "

2.36 "
.18 "
1.09 "

2.33 "
.17 "
1.00 "

2.43 "
.20 "
1.04 "

2.65 "
.21 "
1..12 "

2.5$ "
.21 "
1.12 "

2.41 "
.22 "
1.16 "

2.57 "
.23 "
1.16 "

Total

2.17 "
.25 "
1.06 "
3.48 "

3.63 "

3.50 "

3.67 "

3.98"

3.86 "

3.79 "

3.96 "

Surplus

0.35 "

0.36"

0.39 "

0.48 "

0.30 "

0.27 "

0.22 "

0.006 "

'

Total Fixed Charges
Surplus

18,893
$19,058,693 $18,930,164 $18,443,983 $17,586,722 $15,649,401 $14,429,546 $13,016,840 $12,321,265
2.64%
0.68%
4.87%
12.38%
8.45%
10.26%
6.21%
530,149,597 515,184,067 511,839,437 452,604,203 387,213.469 361,701,049 338,365,269 321,501,524
2.93%
13.09%
0.65%
16.89%
6.90%
5.24%
7.05%
141,326,128 128,650,863 136,240,669 96,455.314 70,080,877 67,198,622 69,411,386 67,691,915
9.82%
5.57%
41.25%
37,63%
3.18%
4.29%
2.54%
74,200,436 73,674,770 68,273,181 63,657,323 57,599,743 54,573,384 52,292,501 52,684,980
0.71%
7.91%
7.25%
10.53%
5.55%
4.36%
0.74
25.7 cts.
25.7 cts.
27.0 cts.
27.6 cts.
27.2 cts.
26.4 cts.
25.0 cts.
23.4 cts.

Passenger Earnings
Increase over preceding year
Passengers Carried
Increase over preceding year
Transfers Redeemed
Increase over preceding year
Rev,nue Mileage
Increase over preceding year
Earnings per Revenue Mile
Units per PassengerPassenger Earnings
Miscellaneous Earnings .
Total Earnings

.

Operating Charges
Rentals__________
Taxes
Interest and

Charges Per Cent of Operating Earnings
Repairs and Renewals __________________________
General Operating _____________
__________________________________
Damages ___ _
Legal Expense ______________

14.65
37.48
3.66
2.07

14.39
39.45
4.14
2.11

13.66
39.69
3.86
1.95

13.30
37.95
3.48
1.79

15.13
38.77
4.25
1.87

12.35
40.33
4.77
1.92

9.85
42.67
5.31
1.89

13.81
42.85
6.88
1.87

Total Operating
57.86
Taxes
6.79
Interest and Rentals (net)
25.52
Special proriations
0.33
Surplus -----------------------------0.50
--100.00

60.09
4.68
24.80
1.15
9.28

59.16
4.61
23.61
2.28
10.34

56.52
4.78
23.85
3.14
11.71

60.02
5.07
25.10
2.77
7.09

59.37
5.07
26.15
2.60
6.81

59.72
5.70
27.31
1.57
5.70

65.41
5.94
27.82
0.68
0.15

100.00

100.00

100.00

100.00

100.00

100.00

100.00

Comparative Statement of Results of Operations for the American Express Co. Earnings
Decrease $21,596
Advertising
Increase
656
Years ending June 30 1909 and 1908, in table above, shows American Railway Traffic Co
Decrease 244,213
total earnings from operation of $19,694,462 for the year
The falling off in freight is explained by general depression
1909 and $19,870,566 for 1908. The decrease of $176,104 in business; the last six
months of the fiscal year, however,
In gross earnings is distributed as follows:
show an increase over the corresponding period of 1908.
Passenger Earnings
Increase $128,529
The decrease in express is due to the contract with the
Freight Earnings
Decrease
40,125
United States mail Earnings
Increase
American Express Company expiring on December 31 1908,
645




540

Lxxxix.

THE CHRONICLE

and not renewed; the decrease-in the American Railway
Traffic Company of $244,213 is due to contract with the city
expiring December 27 1908, and not renewed.
The influence of the business depression on Passenger
Earnings, noted in the last Annual Report, continued to the
end of the last calendar year and resulted in a deficit in Gross
Passenger Receipts of $358,479 for the six months (July to
December 1908, inclusive), but beginning with January of
this year Passenger Earnings showed an increase, which at
the close of the six months ending June 1909 amounted to
$487,007, or 5.40 per cent, overcoming the decrease of
$358,479, and closing the fiscal year with an increase of
$128,528.
The total cost of Operation for the year ending June 30
1909 was $11,394,655, as against $11,939,579 for the previous
year, a decrease of $544,924, or 4.56 per cent.
The net income from Operation increased $368,819, or
4.65 per cent.
Taxes show an increase of $407,613, or 43.83 per Cent.
Interest and Rentals show an increase for the fiscal year
of $26,464, or less than M of 1 per cent.
Surplus Earnings, after making all deductions, were
$1,871,179, an increase of $27,087, or 1.47 per cent over the
preceding year. •
On the page preceding is a tabulation of statistics for fiscal
years ending June 30 1902 to 1909, both inclusive. For the
last year they are:
3.60 Cents
.23 "

Gross Earnings per Passenger
Miscellaneous, per Passenger

3.83
-"

Total

This Gross Revenue per Passenger is absorbed as follows:
2.17 Cents
.25 "
1.06 "
.35 "

Operating Charges
Taxes
Interest and Rentals
Surplus

The completion of the Brighton Beach Improvement and
the inauguration of express service, which the four-track
construction from Church Avenue to Sheepshead Bay made
possible, has induced a great deal of traffic and promises
to speedily increase the population density of the entire
territory tributary to this line.
POWER.

,

One additional steam turbine unit of 10,000 k. w. capacity
has been installed in the Williamsburgh Power Station, and
the construction of the station in other ,respects well advanced towards completion.
Water from wells driven on the Company's property is
used for boiler purposes at the Central Station, and the purchase of water from the city for this plant has been discontinued.
The Southern Power Station has been closed and is now
held as a reserve plant.
The reserve plants now available are as follows:
Third Avenue Power Station
Thlrty-ninth Street Power Station
Southern Power Station

Capacity, 4,400 k. w.
3,560 "
4,200
44

The present rated capacity of the three power stations in
active operation-Williamsburgh, Eastern and Central--is
83,500 k. w.
The new sub-station at Thirty-eighth Street, near Fifth
Avenue, is completed and in operation with two 2,000 k. w.
rotary converters, and the necessary auxiliary apparatus.
This station has an ultimate capacity of 10,000 k. w.
Additional rotary converters and auxiliary machinery were
installed as follows:
Hudson Sub-Station
Lorimer Sub-Station
Richmond Hill Sub-Station
New Utrecht Sub-Station

One
One
One
One

2,000 k. w. Machine
•
"
2,000 "
1,000
1,000

thus increasing the total capacity of sub-stations by 10,000
k. w.
During the year the cost of power plant operation was
shown the distribution of reduced by $56,900, or over 3 per cent, and the cost per
In the same• tabulation is
for the last two k. w. hour for maintenance and operation from .00862 in
charges against Income on percentage basis
fiscal years, as follows:
1904 to .00636 in 1909, a decrease of 26 per cent in five years.
1909.
1908.
A greater centralization of power production will come with
Per Cent
Per Cent
of Earns. of Earns. the completion of the Williamsburgh Station and a further
14.65
14.39 reduction in the cost per k. w. hour may then be expected.
er
e
Repairs and Renewals
For
'
37.48
3.83
-"

Total

General Operating
• " Damages
" Legal Expenses

3.66
2.07

39.45
4.14
2.11

CARS.

Four express cars were converted into mail cars.
825 elevated cars and 1,473 surface cars have been over57.86
60.09
Tor Total Operating
6.79
4.68 hauled, repaired, re-painted and standardized.
Fo Taxes
For
25.52
24.80
" Interest and Rentals
The practical completion of standardization of our equip.33
1.15
l.
!
" Special a )propriations
9.50
9.28 ment and centralization of power production has made possi" Surplus, ter all deductions
100.00
• 100.00 ble a reduction of $146,634, or 8 per cent, in the total cost
of Maintenance of Equipment for 1909, compared with the
ADDITIONS AND IMPROVEMENTS.
year 1908.
The underground terminal at the Manhattan end of the fiscal
DAMAGES.
Williamsburgh Bridge was completed by the city and eleThe item of Damages, though substantially reduced, is still
the Williamsburgh Bridge inauguvated train service across
a burdensome feature of operation; but there 'was a marked
rated September 16 1908.
decrease in the number of accidents, both serious and minor,
Timber stringers under tracks of the Brooklyn Bridge were occurring during the,year, and a material reduction effected
replaced by steel beams, and the renewal of ties and other in outstanding claims and pending suits at law, both as tO
track fixtures is now in progress.
number and
It is reasonable to
Eighteen thousand feet of single elevated track has been expect that gross amount involved. physical and operatthrough steadily improving
relaid with new rails.
ing conditions, the exercise of diligence in the detection of
A connection consisting of 2,100 feet of double track was fraudulent claims, and readiness to fairly,settle just ones,
on private right of way between the Sea Beach
constructed
the names of the companies comprised in the system will be
Railway and the West End Division of the Nassau Electric less frequently called in court with each subcessive term, and
immediately north of Coney Island Creek. This
Railroad
incidentally a sometime profitable industry which has been
enables the Sea Beach Railway trains to run to and from the largely monopolized by a class of specialists commonly called
at Coney Island instead of-as heretoWest End Terminal
Ambulance Chasers will continue to decline.
fore-inconveniently passing this large traffic through a
FREE TRANSPORTATION.
and dangerous section at the entrance to
highly congested
An item of service rendered to the city, which from,long
a safer, quicker and more economiLuna Park; and provides
practice is taken as a matter of course and passes without
cal method of operation.
transportation of
Approximately• 8,500 feet of elevated structure on the special recognition, is the free practice to issue policemen
Line between Grand Avenue and Broadway and firemen. It is the willing members of the books of
Myrtle Avenue
police and
tickets for the use of ununiformed
was reinforced.
uniformed members of those
The elevation of surface tracks over Sands Street, Brook- fire department and to • pass formality. The value of
further
this
lyn referred to in last year's report, has been completed, departments without
recipients, and to the city, may be judged
and by thus bridging this congested spot, surface car opera- concession to the figures:
tion has been greatly accelerated not only on the bridge by the following
There were issued during the year to Police and Fire, Deproper but on all the lines converging at that point. In
of 100 fares
this improvement stations were constructed partments 7,630 pass books several days each, carrying
Connection with
would indicate
High Streets for the transfer of passengers transfer privilieges. Counts of
at Sands and
uniformed policemen and firemen
that the
between surface cars and elevated trains for the convenience average daily rides of
rides per day, or 7,804,065 for
approximately 21,381
of local patrons.
the year. By applying to pass.book tickets the regular rate
48 pieces of special track work were renewed.
-ticket riders the average gross of 3.6
The grade of tracks on Sands Street between Pearl and of fare and to the non
it appears that transportation
has been changed to provide clearance for cents received per passenger,
Bridge Streets
to the current value of $319,096 44 has been in this form
Manhattan Bridge approach.
the new
the city during the year.
New improved granite pavement on concrete base of about contributed indirectly to
of single track, amounting to 25,000 square yards,
32,000 feet
TilA Ne Fil i S'
The vitality of the transfer SI/ ERS worthy of a better cause.
was laid during the year.
Each year it absorbs far more than its proper share of the
2.72 miles of duct was laid in new conduit.
11.63 miles of feeder cable was installed in underground lean surplus, or unduly increases the deficit from surface
operations. Justice to the paying passenger-if the carrier
conduits, and overhead cables were reduced by 7.02 miles.
be left out of consideration-demands that the mistaken
145 miles of trolley wire was renewed.
Work is now under way in rebuilding to standard con- theory of "traffic development," under which the reasonable
struction on concrete bed with steel ties the surface lines in and necessary limitations: of this insidious feature of the
Broadway from Driggs to Ralph Avenues and Flatbush business have been lost sight of, should be corrected. By
Avenue from Fulton Street to Prospect Park Plaza, about referring to table on the preceding page it will be seen
16,000 single track feet, having been completed. This, in that 141,326,128 transfers were redeemed in the last
part, accounts for the $173,910, or 17 per cent, increase in fiscal year-an increase of 110 per cent over, 1904 and 98.
the cost of Maintenance of Way and Structure in 1909 over per cent over last year, against an increase of 32 per cent in
the gross passenger earnings, 1909 over 1904, and slightly
1908, as shown on page 19 [of pamphlet report].




.

over M of 1 per cent in the gross passenger earnings of 1909
over 1908.
TAXES.

The charge to Taxes for the fiscal year was $1,337,620, or
an increase of $407,612 over the charge during the preceding
fiscal year. The sub-division of charges between the various
classes of Taxes is shown in Tabulation No. 2, on a previous page. They cover the full liability in all cases except the Special Franchise Tax, against which has been
charged somewhat more than the admitted liability,although
not the full amount assessed.
Although it is ten years since the Special Franchise Tax
Law was first put into effect, there has been no final adjudication by the Courts of the general principles and methods
which should control the State Board of Tax Commissioners
in determining the value of this class of property, and the
owners are still in doubt as to the measure of their liability.
In the meantime, approximately three billions of assessments
have been levied throughout the State, most of which are
still in litigation. It is a fair assumption that the new law is
actually yielding less revenue than the old method of taxing
only the tangible property. There being no method laid
down in the Special Franchise Tax Law by which the Tax
Commissioners are directed to value such property, and the
Board persisting in its refusal to divulge their methods of
appraisal, the resulting assessments seem to be largely a
matter of guesswork, reached by no uniform rule and occasioning great inequalities and injustice. The progress of litigation is necessarily slow, owing to the amount and complicated nature of the evidence, and while the procedure may
be expedited by the operation of a law passed during the
recent session of the Legislature at the suggestion of the
Attorney-General and Governor, the ultimate status of the
assessments will not be known until the highest Court lays
down the general principles and methods which should he
followed by the State Board of Tax Commissioners. If the
Court of Appeals, in a case now pending before it, should
make such a general declaration, the atmosphere would
probably be clarified and both the taxing officers and the
corporations would better understand where their respective
duties and liabilities end; but if no such declaration of
principle should be enunciated, each case must be determined
upon its merits and the litigation will be indefinitely prolonged
and the confusion intensified.
The recital of such a condition is enough to condemn any
tax law, and the interests of both the State and its creatures,
the corporations, imperatively require the modificaiton of
the law to the end that its application may be more just
and equitable and its operation more direct and certain.
Out of the $1,337,620 of Taxes charged during the fiscal
year, all except $307,107, or $1,030,513, are in one sense
franchise taxes, being levied either on the right to occupy
public streets and places or on the enjoyment of corporate
charters. This is equivalent to over 35 per cent of the net
income after deducting other taxes and fixed charges—surely
a tremendous burden to carry for corporations created to
perform a public service. This amount would pay interest,
at 5 per cent upon upwards of $20,000,000 worth of extensions and improvements.
Neither do these franchise taxes measure the full extent of
such burden, for other official impositions, namely, requirements for paving, free transportation, &c., are in a like
category as to principle, although not included under the
definition of taxes.
It is a conservative estimate that in addition to the taxes
enumerated in Tabulation No. 2, on a previous page,
the Company contributes to the public annually a further
sum, estimated at not less than $200,000 per annum,
in relieving the city of the expense of maintaining certain
portions of pavement in the city streets, shifting tracks for
sewers, water mains, ttc. This does not take into considerathm the item of interest on over four million dollars invested
by the Company in paving in various streets which the city
would have had to pay had tracks not been there.
The State cannot consistently expect railroad corporations
to meet requirements in the transportation of passengers and
property, both as to rates and services, and at the same time
by the imposition of unreasonable financial burdens cripple
their power to discharge their duty.
The inevitable result of such a policy must be either the
withdrawal of private capital from such enterprises or their
assumption by the State—and in either case the public must
be the chief sufferer.
Since the close of the fiscal year, an additional tax obligation has been imposed in the shape of a Federal corporation
tax on net income. This will apply to the present calendar
year and thereafter, and on the basis of the net income of the
various companies during the calendar year 1908 will apparently cost the companies of the Brooklyn Rapid Transit
System about $50,000, this amount increasing or decreasing
annually according to the results of the companies' operations. Inasmuch as your companies get no privileges from
the National Government not enjoyed by every citizen, and
already contribute largely to the support of the Federal
Government as a consumer of materials (the manufacture of
which is proteeted by tariff duties), we see no justification for
such an additional burden, and it certainly is inequitable to
the extent that it is an additional imposition on property
already taxed several times and in different ways by the
operation of State law-.




541

THE CHRONICLE

AtTG. 28 1909.1

INSURANCE FUND.

Of the Insurance Reserve Fund shown on the balance
sheet, $51,428 27 was accumulated prior to November 15
1907. The balance of $57,070 16 represents the amount set
aside since that date from operations under the Insurance
Agreement entered into between the respective companies of
the Brooklyn Rapid Transit System, November 15 1907.
The amount shown on the Balance Sheet, page 21 (of
pamphlet report), to the credit of this account, i. e., $108,498 43, is exclusive of a co-insurer's profit of $72,642 69,
which, based on re-insurance in effect, is estimated will be
available for distribution by the Insurance Trustees at the
end of the insurance year, November 15 1909.
From the funds held by the Trustees there has been invested in interest-bearing securities $103,743 75(representing
a par value of $110,000), yielding an annual income of $4,950.
Of the amount charged to insurance for the insurance year
ending November 15 1909, it is estimated that 43 per cent
will represent the co-insurer's profit.
CONDEMNATION OF PROPERTYRAT139TH/STREETI FERRY..

The Commissioners appointed in the proceedings instituted
by the City to acquire various properties adjacent to 39th
Street Ferry have awarded to the South Brooklyn Railway
Company $111,830 42 for the thirty-foot strip taken;
$27,110 58 to the Nassau Electric Railroad Company for land
under water adjacent to its power house; and nothing to the
Brooklyn Heights Railroad Company for deprivation of its
terminal rights, although the contract under which such
rights were enjoyed stipulated the damage at $83,545 38 in
case the lease of the terminal should be canceled—this being
the amount actually expended by the lessee upon the terminal building. The Nassau Company and the Brooklyn
Heights Company have each objected to those parts of the
Commissioners' report which affect them, and the matter
has gone to the courts for adjudication.
REFUNDING BONDS.

To June 30 1909 there had been authenticated and delivered to the Company by the Central Trust Company of New
York, trustee, under the First Refunding Gold Mortgage,
dated July 11902, 4 per cent bonds of a par value of $46,771,000. This was an increase during the fiscal year of
$4,421,000, of which $3,821,000 were issued for Certifi 2ates
of Indebtedness of constituent companies and $600,000 in
exchange for a like amount of Refunding Mortgage Bonds
of The Brooklyn City Railroad Company.
The Certificates of Indebtedness were issued at par and
represent the actual cost of additions and improvements by
constituent companies, while the bonds exchanged were
purchased at par and were issued by The Brooklyn City
Railroad Company to replace a like amount of matured
mortgages on its railroad properties.
Of the 46,771 bonds authenticated and delivered to
June 30 1909, $33,078,000, par value, have been sold for
cash, realizing $26,676,295 93, and $979,000, par value,
exchanged for stocks and bonds of constituent companies.
Gn July 1 1908 there were Brooklyn Rapid TransitWZICIPirintail
Gold Mortgage 4 per cent bonds in the treasuries
$9;772,000 par value
of all companies
Authenticated and delivered during the fiscal year
4.421,000
ended June 30 1909
Total available
Of these there were sold during the year

$14,193,000
500,000

Leaving on hand June 30 1909

$13,693,000

"•

Of these the Brooklyn Rapid Transit ompany owns
$12,714,000, par value, and The Nassau Electric Railroad
Company $979,000, par value.
In addition, the Company has expended to June 30 1909
$966,642 66, for which 'bonds may be issued.
The discount on bond sales during the year was $89,575,
which amount has been charged against the accumulated
surplus, as shown by the statement on a previous page.
Complete exhibit of issue and disposition of the First
Refunding Gold Mortgage Bonds outstanding at June 30
1909 is given below:
$5,000,000 00
Received from Trustee upon execution of Mortgage
Authenticated from time to time upon deposit with Trustee
of Securities and Certificates of Indebtedness of Constituent Companies to the extent of actual cost of Improvements 41,771,000 00
Total authenticated by Trustee
Held in Treasury of Brooklyn Rapid Transit Company..

$46,771,000 00
12,714,000 00

$34,057,000 00
Amount outstanding
Proceeds realized from Sale and Exchange for Underlying
27,655,295 93
Bonds
$6,401,704 07
Discount (absorbed as indicated below)
BOND DISCOUNT DISPOSITION:
Year
1903—Charged to Cost of Securities
1904—Charged to Surplus
1905—
1906
"
"
"
1907
"
"
1908— "
"
"
1909— "

weilo t.,.,:f61

$1,000,000 00
1,153,200 00
1,746,800 00
583,130 41
371,825 24
1,457,173 42
89,575 00
$6,401,704 07

Appended hereto may be found statements relating to the
business of the fiscal year and the condition of the Company's
affairs on June 30 1909.
EDWIN W. WINTER,
President.
[Comparative income accounts, balance sheets. ecc., willIbe found on a
previous pageunder "Annual Reports.")

[VOL. Lxxxix.

THE CHRONICLE

542

Whe Tonumercial prim.
COMMERCIAL EPITOME.
Friday Night, Aug. 27 1909.
Though an expansion of the iron and steel trade is too
plain to be denied and the tendency of business in other lines
is manifestly towards improvement, the note of caution is
still clearly discernible. The country moves warily, but
steadily and surely, towards better times, which are approached much less rapidly than was expected six months
ago. Prices in the main are sustained, labor is Well employed, money continues easy, and the outlook, if not glowing, is promising.
LARD.
-Trading has been light, owing to much higher
prices. Stocks are small and the strong hog situation gives
holders confidence. Buyers are counting on a decline because of the good com promise. Prime Western 12.70c.,
Middle West 12.30c., South America 13.50c., prime City
steam 12c., refined Continent 12.95c., Brazil, in kegs, 14.25c.
Speculative prices are higher. The strong hog situation
caused short covering, while packers bought in the belief
that supplies will be greatly reduced before the winter packing season and that the demand will be good.
DAILY CLOSING PRICES, OF LARD FUTURES IN CHICAGO.
Mon
Tues.
_11.gt
85
. 11.97;4
's g.
i
.ul
12.15
11.80
11.90
12.05
11.91
12.10
12.10
10.20
10.25
10.37M 10.323' 10.30
10.423i

September delivery_
October delivery
January delivery

A

11.97

COTTON.
Friday Night, August 27 1909.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this 'evening the total receipts have reached
34,162 bales, against 14,396 bales last week and 11,051
bales the previous week, making the total receipts since
Sept. 1 1908 9,855,990 bales, against 8,382,007 bales
for the same period of 1907-08, showing an increase since
Sept. 1 1908 of 1,473,983 bales.
Receipts at-

Sat.

Alan.

Tues.

Wed.

Thurs.

Fri.

Total.

Galveston
1,444 3,909 4,077 1,656 2,990 5,447 19,52a
Port
Corp .Chrls.,ice .
New Orleans__ _
81
177
110 1,333
75 1,323 3,099
Gulfport
Mobile
36
6
72
_
9
18
Pensacola
Jacksonville, &c.
Savannah
1,580 3,044 2,765 10,167
081
254
643
Brunswick
•_
Charleston
- --5
--ii ---ii --ii) --ii --io
i5i
Georgetown
____
Wilmington
50
39
89
Norfolk
76
8
62
67
ii5
88
414
N'port News,&c_
____
____
____
____
____
____
__ __
New York____
____
30
30
Boston00 _ _133
223
Baltimore
314
314
Philadelphia_ _ _ _
50
25
23
__
98
- ---------- --Tot. this week
2,314 4,299 6,473 3,648 7,182 10,246 34,162

3

The following shows the week s total receipts, the total
PORIC.-Business is slow because of meagre supplies and
firmness of holders. Mess $22 25@$22 75, family $22© since Sept. 1 1908, and the stocks to-night, compared with
$22 50; clear $21®$23 50. Beef steady with moderate ac- last year:
,
tivity; family $14@$14 50, packet $12@$12 50, mess $11@
1008-09.
Stock.
1907-08.
$11 75, extra India mess $20 50@$21. Pickled hams and
Receipts to
August 27.
This Since Sep This Since Sep
bellies
with good inquiry; both quoted at 13c. Tallow
Week. 11008. Week. 1 1007.
1909.
1908.
slow; city 5 9-16c. Stearines strong and quiet; oleo 12c.;
scarce,
19,523 3,638,357 48,158 2,616,971
27,549
41,052
lard 123/ ®13c. Butter strong, especially choice grades; Galveston
s
153,234
108,500
creamery extras 28 2e. Cheese higher, with fair business; Port Arthur
CorpusChristi,&c.
____
157,936
____
37,825
State, f. c., small or large, colored or white, 15c. Choice New Orleans_ _ _ _ 3,009 2,090,428 3,397 1,997,498 44,226 25,736
20,221
eggs scarce and in good demand; Western firsts 22@23c. Gulfport
Mobile
72 392,155 3,191 337,557
1,686
8,046
OIL.
-Linseed lower for domestic; city, raw, American Pensacola
167,465
166,035
JacksonivIle, &c_
40
30,868
8,583
seed, 570,58c.; boiled,.58 ®59c.; Calcutta, raw,75c. Cotton- Savannah
10,167 1,505,972 10,836 1,530,181
14,888
22,443
seed steady; winter, 5.82 ®5.90c.; summer white 5.40 ®5.90c. Brunswick
211
320,114 4,728 202,631 •
1,621
_
7,404
434 203,456
881
19,917
Olive $1 10©$1 20. Lard slow and firm; prime 92@95c.; Charleston ----------2,649
Georgetown
822
___
__-extra No. 1, 56c. Cocoanut higher with good demand; Wilmington
185
2,091
2 500,794
89 409,327
Norfolk
2,057
344 548,239
414 593,240
2,779
Cochin 8@83c.; Ceylon, 8.10c.; Palm, Lagos, 6()631c. Newport News,&c
9,228
278
18,175
____
Peanut, yellow, 65@70c. Cod dull and firm; domestic 38e.; New York
4,227
61,184
80,316
____
30
19,181
Boston
16,039
3,226
223
57
19,348
3,842
Newfoundland 40c.
Baltimore
82,188
214
314 101,679
1,503
2,033
COFFEE.
-A better tone is noted in the spot market for Philadelphia
9,803
2,302
41
08
7,154
1,294
----------both mild and Brazilian grades. The country inquiry has
Total
34,102 9,855,990 71,720 8,382,007 170,930 179,525
improved and late arrivals have shown better quality. Prices
are firm here, with some quotations higher in Brazil. Rio
.In order that comparison may be made with other years,
/
No. 7, 7)/. ®7%c.; Santos No. 4, 8%®830.; fair to good
give below the totals at leading ports for six seasons:
Cucuta, 85 8®9Mc. Speculative trading has been slow we
/
generally, most of it representing a winding up of September Receipts at- 1909.
1907.
1908.
1906.
1905.
1904.
contracts, much of it being done by switches. The spot
Galveston
19,523
16,441
48,158
56,071
47,930
43,139
month is lower, while distant deliveries have advanced, Pt.Arthur,&c.
18
223
partly owing to the continued steadiness in Brazil despite New Orleans_
3,099
3,397
1,134
5,540
5,576
5,420
72
75
3,191
1,650
1,410
537
the record-bregking receipts. Closing prices were as fol@ w45 Savannah
5.40lo5 s Mobile
:
10,167
10,836
2,931
6,721
22,237
20,315
5.30@ 5.351April
August
5.55@5.60 December
September _ _ 5.40@5.45 January __ _ _ 5.35@ 5.40 May
5.35@5.40 February
October
_5.35@5.40 June
November _ _ 5.30@5.35 March
5.35@5.40 July

5.4005.
.45
5.4(45.45
5.45@5.50

-Cuban raws have been quiet but firm at last
SUGAR.
week's prices after an early sale of 10,000 bags of centrifugal at 4.14c. Javas are attracting more attention: Centrifugal, 96-degrees test, 4.11c.• muscovado, 89-degrees test,
3.61c.; molasses, 89-degrees test, 3.36c. Refined firm, with
'
good withdrawals; granulated 4.95c. Spices have been in
fair demand at former figures. Teas have been strong, with
good demand. Wool firm, with an excellent busi- ness.
PETROLEUM.-Demand has been ordinary at firm prices;
refined, barrels, 8.25c.; bulk 4.75c., cases 10.65c. Gasoline,
86-degrees test, in 100-gallon drums, 189c.; drums $7 50
extra. Naphtha, 73 to 76-degrees test, in 100-gallon drums,
163 c.; drums $7 50 extra.
4
TOBACCO.
-It is quite generally agreed that the recent
visit of the Western buyers resulted in much less than the
customary business, and the majority of them have returned
home after negotiating for only sufficient to supply their
trade for a comparatively short time. This leads to the beief that within a space of time much shorter than in ordinary
seasons there will be a revival of the Western inquiry. It is
reported that packers are paying big prices in parts of
Wisconsin, often giving 10 or 12 cents per bundle. Packing
has commenced among some of the leading interests in that
State. Steadiness is reported in the market for dark
tobacco, as well as for Havana varieties, and it is said that
Sumatras have been well absorbed at firm figures.
COPPER.
-Quietude prevailed generally, with prices in
some cases rather firmer; lake 1334.@133sc., electrolytic
/
13@133ic. casting 1258@13c. Lead quiet and steady;
/
spot car hits 4.35@4.40c. Spelter quiet and higher; spot
car lots 5.70@5.80c. Iron has been active all over, especially in the East. Inquiry is increasing, with advancing
prices. Sales are noted for 1910 with some of this year's
requirements still uncovered. Steel has been active and
strong, with further advances expected. In spite of enlarged
capacity, satisfactory deliveries are impossible. Developments are expected soon on 195,000 tons of rails for 1910.
Trade in railroad equipment generally continues brisk.




Brunswick_
4,72$
127
Charleston.&c
133
434
362
350
1,910
759
Wilmington_
89
2
34
551
Norfolk
414
344
467
2,295
1,742
516
N'port N., 8cc
278
268
All others_ __ _
665
352
52
278
2,235
1,338
---------------Total this wk.
34,162
87,893
71,720
77,485
74,004
21,688
--------------Since Sept. 1_ 9,855,990 8,382,007 9,714,160 7,935,863

The exports for the week ending this evening reach a total
of 24,475 bales, of which 2,110 were to Great Britain,
16,043 to France and 6,322 to the rest of the Continent.
Below are the exports for the week and since Sept. 11908:
Week ending Aug. 27 1901).
Exported toExports
from
Galveston
Port Arthur___
Corp.Chris.,&e.
New Orleans_
Mobile
Pensacola
Gulfport
Savannah ___
Brunswick_
Charleston_
Wilmington_
Norfolk
Newport News
New York___ _
Boston
Baltimore
Philadelphia _
Portland. Me_
San Francisco_
Seattle
Tacoma
Portland, Ore_
Pembina
Detroit
Total

From:Sept. 1 1908 to Aug. 27 1909.
Exported to
-

Great
ContiContiGreat
Britain.France nerd. Total. Britain. Franoe. ,sent.
2,500

,
7- 68o
20

548
373

8,271
25

1,451
4
41

122

2,484
302

4,057
441
410

180,75 52,14
04,88
53,213 7,537
55,926
79

4,374
2,11 16,043

Total.

2,5001,490,18 424,
3661, 26,6393,141,185
2
66,257
80,977 153,234
54:
39,327 39,327
8,023 929,235268,500 755,5891,953.314
8,471 93,780130.848 82,335 306,963
40,532 65,950 56,778 169,266
4,132 16,089
20,221
25 171,224 91,227 058,746 921,197
193,604
89,370 282,974
5,72.
77,244
82,969
112,854 8,731 281,624 403,209
32,502
4,133 36,635
215,80: 457,711
11,971 106,857
65,374 126,124
13,552 69,478
796
82,528 82,528
68,364
68,364
10,756
10,756
30
300
100
100
4,374

6,322 24,4753,544,96510654023,827,5158.437,882

Total 1907-08. 15,07311,034 24,726 50,8332,941,507802,3583,623,0997,456,964

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York:

AUG. 28 1909.1

THE CHRONICLE

On Shipboard, Not Cleared for
Other CoastGreat
GerrlAug. 27 at
- Britain. France many. Foreign wise.
New Orleans__
Galveston _ _ _ _
Savannah _ _ _ _
Charleston_ __ _
Mobile
Norfolk
New York_ _ _ _
Other ports__ _
Total 1909_ _
Total 1908_ _
Total 1907_ _

1,523
1,874

1,656

2,547
5,918

3,825
2,505

200

-566

-566

500
250

4,147 7,200
21,283 10,685
5,339 8,200

8,765 6,830
7,467 10,835
9,383 1,310

Total.

Leaving
Stock.

239 8,134
401 17,698

1,500
250

36,092
9,851
14,888
881
1,686
957
78,816
7,177

2,640 29,582
3,893 54,163
7,378 31,610

150,348
125,362
244,062

2,6615

2;66

543

FUTURES.
-The highest, lowest and closing prices at
New York the past week have been as follows:

cit
Z1 r%. Y r R k'
ow -c)i,i0A101z040.,,F,..,e0eovz,o,y, 04?.212
2g 1PIWY-6-0.5 glnlog126",9,gia.gt
"
Fin ET' S'n iPq Es7q I g''q Slq FA gl RA EM - EM
,
'

on 0
I I

00 00 '
ri
o0 n '' TO oci' ay
4
..
..
.. ..
II N. r, 1 N. ', 1 N. N.

.0 00 70
r,' I .. -- 41
..

TA CO_ , ... . .,

;...;..
;J,:.9
1Z
I@ I® .. t0.. I@ .. I® I® .. i® 1.®
TZ
C'0
I®
N
w.
..
..
.. .. .... ....
If II
ON. .. N
'
- I
n

Speculation in cotton for future delivery during the past
week has been small at generally rising prices on bullish
ideas as to trade and the crop outlook. Many, however,
have been awaiting events to furnish new light on the general situation; more particularly they await the Government
report of Sept. 2 with decided interest. Most people look
for a decidedly bullish report-i. e., something less as to the
condition of the crop than the 71.9% given in the August
report. The 10-year average for September is 73.6%.
The September condition in that time has been as low as
64% in 1902 and as high as 84.1% in 1904, the year of the
13,566,000-bale crop. For a time during the past week hot,
dry weather was still a source of complaint in Texas. Shedding has been reported in that State as well as elsewhere in
the Southwest, and also in such States as Georgia and Alabama. The consensus is that the crop is late by one to two
weeks at least. The local stock is steadily decreasing.
Spinners' takings make a good exhibit. Visible supplies are
in the aggregate smaller than they were two years ago, when
the crop was approximately 11,400,000 bales. Receipts at
the ports are light. Reports are persistent of an improvement in trade in Europe. It is said that Calcutta and China
business has increased. A rumor that the National Ginners'
Association had put the condition at 64%, or the same as in
1902, had some stimulating effect. Large spot interests
were at one time buying. Wall Street, Western and Southern operators have bought. Spot markets have been firm,
even though spinners have continued to buy on a very conservative scale. Some have an idea that the shori interest
is still rather large, though still others think that the market
is pretty well evened up for the Bureau report. The speculation has been sluggish. The outside public has ignored it.
Among many there is an impression that not improbably,
as has usually been the case in the past, the first rush of redeipts will have a more or less depressing effect on prices, at
least for a time. Trade in this country continues to improve at a slow 'pace. Some reports, too, are to the effect
that notwithstanding the nore cheerful tenor of the recent
advices as to the condition of Europe's trade, it still leaves
much to be desired. A large surplussupply of raw cotton will be
carried over into the new season now about to open-a fact
which will go far towards remedying any possible decrease
in the crop; and in Texas recent rains and cooler ,weather
have' been beneficial. It is also averred in some quarters
that the Texas crop is likely to be larger than "bulls' expect.
Some favorable reports are also being received from other
parts of the belt. It is argued that the present relatively
high price discounts whatever there is bullish in the situation. However this may be, the undertone of the market
has been firm, or seemingly so. As to the course of prices
in the immediate future, it is supposed to hinge on the size
of the crop movement and the action of spinners. To-day
there was a material increase in the volume of trade, and
prices generally gained about a dozen points, making the advance for the week some thirty odd points. There was
heavy short covering in anticipation of a bullish Bureau
report, latest guesses making the condition 67%. The
National Ginners' report made it 64.4%. There was also
heavy buying for Memphis account, and leading spot houses
continued on that side. Bad news was received from the
South Atlantic States in addition to further unfavorable advices from the Southwest, where the rainfall once more became insignificant, while temperatures again went above
100 degrees.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Aug. 21 to Aug. 27Middling uplands

Sat.
12.75

Mon. Tues.
12.75 12.75

Wed. Thurs. Fri.
12.85 12.85 12.85

NEW YORK QUOTATIONS FOR 32 YEARS.
1909_c
1908
1907
1906
1905
1904
1903
1902

12.85
9.70
13.55
10.00
11.15
11.20
12.75
9.00

1901_c
1900
1899
1898
1897
1896
1895
1894

8.62
9.62
6.25
5.75
8.06
8.19
7.94
6.94

1893_0
1892
1891
1890
1889
1888
1887
1886

7.50
7.12
8.12
11.12
11.50
10.75
9.81
9.25

1885_c
1884
1883
1882
1881
1880
1879
1878

10.31
10.81
10.19
12.94
12.75
12.00
12.25
12.06

MARKET AND SALES AT NEW YORK.
Spot Market
Closed.
Saturday_ _
Monday.._ _
Tuesday _ _
Wednesday
Thursday _
Friday_ _ _ _

Quiet 10 pts adv
Quiet
Quiet
Quiet 10 pts adv
Quiet
Quiet

Total




Futures
Market
Closed.
Very steady Very steady _
Steady
Very steady _
Barely steady
Very steady _

Sales of Spot and Contract.
Con- ConSpot. suin'n. tract. Total.
-

-7 66
7
500
1,200

-566

-7 55
7
800

300 1,500

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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 retrns, 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 27Stock at Liverpool
Stock at London
Stock at Manchester

1908.
382,000
10,000
45.000

1907.
.780,000
24,000
58,000

1906.
380,000
16,000
44,000

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

862,000
18,000
140,000
126,000
3,000
18,000
22,000
38,000

440,000
19,000
84,000
62,000
4.000
7,000
21,000
5,000

375,000

341,000

365,000

202,000

778.000 1,227,000
54,000
110,000
96,171
31,679
16,000
19,000
61,000
20,000
407,000 560,000
179,525 275,636
117,335
79,654
4,510
875

642,000
50,000
121,073
12,000
28,000
627,000
193,879
96,276
9,208

1909.
bales. 850,000
15,000
53,000

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

1,293,000
Total European stocks
India cotton afloat for Europe_ _ _
59,000
American cotton afloat for Europe
52,434
Egypt,Brazil,&c.,aflt.for Europe_
18,000
Stock in Alexandria, Egypt
51,000
201,000
Stock in Bombay, India
179,920
Stock in U. S. ports
82,981
Stock in U. S. interior towns_ _ _ _
7,678
U. S. exports to-day

Total visible supply
1,945,023 1,713,541 2,323,844 1,779,526
Of the above, totals of American and other descriptions are as follows:
American
bales. 754,000 277,000 659,000 287,000
Liverpool stock
39,000
34.000
47,000
Manchester stock
40,000
Continental stock
339,000 261,000 262,000 147,000
121,073
52,435
American afloat for Europe
96,171
31,679
U. S. port stocks
193,879
179,930
179,525 275,636
U.S. interior stocks
96,276
82,981
117,335
79,654
9,298
U. S. exports to-day
4,510
7,678
875
Total American
East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total American

1,456,023
96,000
15,000
13,000
36,000
59,000
18,000
51,000
201,000
489,000
1,456,023

969,541 1,355,344

893,526

105,000
10,000
11,000
80,000
54,000
16,000
61,000
407,000

121,000
24,000
11,000
103,000
110,000
19,000
20,000
560,000

93,000
16,000
5,000
55,000
50,000
12,000
28,000
627,000

744,000 968,000
969,541 1,355,844

886,000
893,526

1,945,023 1,713,541 2,323,844 1,779,526
Total visible supply
7.49d.
5.41d.
6.73d.
5.25d.
Middling Upland, Liverpool
Middling Uplands, New York_ _ _ _ 12.85c.
9.500.
13.550.
9.80c.
Egypt, Good Brown, Liverpool_ _9 15-16d. 8 5-16d. 11 5-16d. 10 15-16d.
8.80d.
Peruvian, Rough Good, Liverpool
8.35d,
12.00d.
8.50d.
5%cl.
Broach, Fine, Liverpool
6 lid. 5 1-16d. 6 5-16d.
Tinnevelly, Good, Liverpool_ _ _ _5 15-16d. 4 13-16d. 5 13-16d. 5 1-18d.

Continental imports for the past week have been 39,000
bales.
The above figures for 1909 show a decrease from last week
of 97,122 bales, a gain of 231,482 bales over 1908,
a decrease of 378,821 bales from 1907, and a gain of 165,479
bales over 1906.

THE CHRONICLE

544

Movement N August 28 1908.

-that is,
AT THE INTERIOR TOWNS the movement
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.

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Sat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday.
Aug. 21. Aug. 23. Aug. 24. Aug. 25. Aug. 26. Aug. 27.

00

1115
I

12%
12%
12%
12%

-The highest,
NEW ORLEANS OPTION MARKET.
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:

Co

00

Sat'day. Monday. Tuesday. Wed'day. Thursd'y. Friday.

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Galveston
New Orleans.._ _
Mobile
Savannah
Charleston
Wilmington_ _
Norfolk
Boston
Baltimore
Philadelphia _ _ _
Augusta
Memphis
St. Louis
Houston
Little Rock_ _

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.

Week. , Season.

Movement to August 27 1909.

44,
.
117:

Closing Quotations for Middling Cotton on
Week ending
August 27.

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The above totals show that the interior stocks have increased during the week 2,631 bales and are to-night 34,354
bales less than at the same time last year. The receipts
at all the towns have been 17,153 bales less than the same
week last year.
"
4
OVERLAND MOVEMENT FOR THE WEEK AND
-We give below a statement showing the
SINCE SEPT. I.
overland movement for the week and since Sept. 1,
made
up from telegraphic reports Friday night. The results for the
week and since Sept. 1 in the last two years are as follows:
-1908 09-1907-08Since
August 27Since
Week. Sept. 1.
Week. Sept. 1.
Shipped
1,849 684,966
2,705 479,058
Via St. Louis
634
306,474
Via Cairo
1,092 231,358
297
Via Rock Island
30,693
37: 50
54 037
2
t:04
4
Via Louisville
85,789
38,285
Via Cincinnati
67
50,482
Via Virginia points
228
375 188,877
96,708
Via other routes, 5:o
487 278,295
122
215,180
--- -6,199 1,171,876
Total gross overland
3,412 1,625,576
Deduct shipments
312 112,257
147,362
665
Overland to N. Y., Boston, &c_ _
29
48,962
25
Petween Interior towns
66,814
2,141
1.219
60,218
Inland, &c., from South
82,926

ill14141

as

August
Range
Closing
September
Range
Closing
October
Range
Closing
November
Range
Closing
December
Range
Closing
January
Range
Closing
February
Range
Closing
March
Range
Closing
May
Range
Closing
Tone
Spot
Options

12.05 • 12.12 -- 12.23

- ® 12.20 -12.26 -

12.11-.20 12.19-.20 12.30-.34 12.32-.33 12.20-.35
12.21-.23 12.19-.20 12.33-.35 12.25-.27 12.34-.35
12.14-.22 12.17-.24 12.17-.34 12.25-.38 12.24-.39
12.20-.21 12.20-.21 12.33-.34 12.25-.26 12.37-.38

9 ___
12.20 12.10-.12 12.20-.22 12.20-.22 12.32 • 12-.24-.26 12.37-.39
12.01 -12.14-.23 12.16-.24 12.17-.33 12.24-.38 12.24-.39
12.11-.12 12.21-.22 12.19-.20 12.32-.33 12.25-.26 12.37-.38
12.06-.15 12.18-.26 12.19-.28 12.20-.37 12.28-.41 12.29-.42
12.14-.15 12.24-.25 12.22-.23 12.36-.37 12.29-.30 12.41-.42
.
12.16-.18 12.26-.28 12.24-.26 12.42, 12.35 • -

-•

12.21-.30 12.33-.40 12.36-.42 12.35-.50 12.44-.54 12.43-.56
12.29-.31 12.40-.41 12.37-.38 12.51-.52 12.43-.44112.55-.56
-@ .61 112.48-.52
12.26-.32 1.-.38-.44- t -12.36-.38 12.44-.45 12.40-.42 12.57 • 12.49-.5012.60-.62
Firm.
Quiet.
Firm. I Firm. Steady. Steady.
Steady. Very sty.1 Steady. Steady. Steady. Steady.

',Nominal.
-Our advices
WEATHER REPORTS BY TELEGRAPH.
by telegraph from the South this evening indicate that rain
has fallen in most sections during the week, with precipitation moderate or light as a rule. In portions of Arkansas,
Tennessee and Alabama,•however, where dry weather has
prevailed, moisture is claimed to be needed. The rains in
Texas have been quite general. Picking is progressing well

n earlier sections.
Galveston, Texas.
-There has been light rain on two

days
during the week, the precipitation reaching two hundredths
of an inch. The thermometer has averaged 84, the highest

being 94 and the lowest 74.
Abilene, Texas.
-There has

been rain on one day of the
past week. The thermometer has averaged 77, ranging
from 60 to 94.
Brenham, Texas.
-There has been heavy rain on one day
the past week, the rainfall being two inches and twenty-six
hundredths. The thermometer has ranged from 72 to 102,
averaging 87.
Corpus Christi, Texas.
-Rain has fallen on four days of
the week, the rainfall being one inch and forty-two hundredths. Average thermometer 83, highest 94, lowest 74.
-There has been rain on three days of the
Cuero, Texas.
week, the rainfall being twenty-eight hundredths of an inch.
The thermometer has averaged 90, highest being 109 and
lowest 70.

-There has been rain on two days the
Dallas, Texas.
past week, the rainfall reaching twenty-eight hundredths of
2,482
256,542
Total to be deducted
1,904
261,997 an inch. The thermometer has averaged 83, ranging from
____
-------3,717 909,879 65 to 101.
Leaving total net overland •
1,508 1,369,034
-Rain has fallen on three days during
Fort Worth, Texas.
• Including movement by rail to Canada.
rainfall being forty-eight hundredths of an.
the week,
The foregoing shows the week's net overland movement inch. The the
thermometer has ranged from 70 to 96, averhas been 1,508 bales, against 3,717 bales for the week last
aging 83.
year, and that for the season to date the aggregate net over-Rain has fallen on one day of the week,
Henrietta, Texas.
land exhibits an excess over a year ago of 459,155 bales.
the rainfall being one inch and sixty-four hundredths.
-1907-08
1908-09
highest 96, lowest 64.
In Sigh/ and Spinners'
Since
Since Average thermometer 80,
Week.
Sept. 1.
Week.
-We have had no rain the past week.
Sept. 1.
Takings.
Huntsville, Texas.
71,720 8,382,007
34,162 9,855,990
Receipts at ports to Aug. 27
averaged 83, highest being 99 and
3,717
909,879 The thermometer has
1,508 1,369,034
Net overland to Aug. 27
30,000 2,219,000 lowest 67.
Southern consumption to Aug. 27 52,000 2,458,000
-Rain has fallen on one day of the week,
Kerrville, Texas.
87,670 13,683,024 105,437 11,510,886
Total marketed
36,752 the rainfall being twenty-three hundredths of an inch.
2,631
x31,025
Interior stocks in excess
1,051
The thermometer has averaged 79, ranging from 59 to 99.
106,488
Came into sight during week_ _ _ 90,301
-There has been rain on one day the
Lampasas, Texas.
13,651,999
11,547,638
Total in sight Aug. 27
past week, the rainfall being fifty-two hundredths of an inch.
25.854 1,940,621
North.spinners' takings to Aug.27 12,425 2,811,006
Thermometer has•ranged from 66 to 101, averaging 84.
x Less than Sept. 1.
-There has been rain on two days
Longview, Texas.
of the week, the rainfall reaching ninety-eight hundredths
Movement into sight in previous years:
Since Sept 1of an inch. Average thermometer 84, highest 98, lowest 70.
WeekBales.
Bales.
-Aug. 30
1907
-Aug.30
13,520,656
._ _ _ 69,534 1906-07
Luling, Texas.
-We have had a trace of rain on two days
1906-Aug.31
115,782 1905-06-Aug. 31
11,280,959
during the week. The thermometer has averaged 87, the
-Sept. 1
1905-Sept. 1
139,488 1904-05
2
-04-Sept.
1904-Sept. 2
105,058 1903
being 104 and the lowest 70.
-There has been rain on two days
QUOTATIONS FOR, MIDDLING COTTON AT OTHER
Nacogdoches, Texas:
MARKETS.
-Below are the closing quotations of middling of the past week, to the extent of twenty-five hundredths -of
cotton at Southern and other principal cotton markets for an inch. The thermometer has averaged 84, ranging from
'
each day of the week.
68 to 100.




highest

THE CHRONICLE

AUG. 28 1909.5

-There has been rain on one day the
Palestine, Texas.
past week, the rainfall being eight hundredths of an inch.
Thermometer has ranged from 70 to 96, averaging 83.
-There has been no rain two days of
Paris, Texas.
the week, the rainfall reaching sixty-eight hundredths of an
inch. Average thermometer 85, highest 102, lowest 67.
-We have had rain on two days
San Antonio, Texas.
the past week, the rainfall being sixty-eight hundredths of an
thermometer has averaged 89, the highest being
inch. The
106 and the lowest 72.
-There has been heavy rain on one day the
Taylor, Texas.
past week, to the extent of one inch and ninety-four hunthermometer has averaged 82, ranging from
dredths. The
64 to 100.
Weatherford, Texas.
-We have had rain on three days
during the week, the rainfall being seventy-eight hundredths
of an inch. The thermometer has ranged from 68 to 96
averaging 82.
New Orleans Louisiana.
-There has been rain on two days
during the week, the rainfall reaching three inches and fiftyseven hundredths. Average thermometer 83, highest 95,
lowest 73.
Vicksburg, Mississippi.
-There has been rain on two days
of the past week, to the extent of eleven hundredths of an
inch. The thermometer has averaged 82, ranging from
71 to 94.
Helena, Arkansas.
-Crops are generally suffering for moisture. There has been no rain since Aug. 12. First bale
received on Tuesday. Average thermometer 79.3,highest
92, lowest 64.
Little Rock, Arkansas.
-We have had rain on one day of
the week, the rainfall reaching two hundredths of an inch.
The thermometer has averaged 80.1, the highest being 94
and the lowest 67.
Memphis, Tennessee.
-The crop needs moisture. Cotton
is beginning to open; eight new bales received to date.
There has been no rain the past thirteen days. The thermometer has averaged 81.1, ranging from 64.7 to 94.3.
Nashville, Tennessee.
-Cotton is shedding some and on
account of hot weather is inclined to open earlier than expected. There has been no rain during the week. The
thermometer has ranged from 61 to 94, averaging 78.
Mobile, Alabama.
-Crop conditions less favorable. Complaints from the interior of shedding and dry weather.
There has been rain on three days of the week, the rainfall
reaching two inches and fifty-two hundredths. Average
thermometer 82, highest 93, lowest 73.
-There are reports of deterioration
Montgomery, Alabama.
and that crops are spotted and late. We have had no rain
during the week. The thermometer has averaged 80, the
highest being 94 and the lowest 66.
Selma, Alabama.
-There has been no rain the past week.
The thermometer has averaged 81, ranging from 70 to 95.
Madison, Florida.
-There has been rain during the week,
the rainfall being two inches and twenty-five hundredths.
The thermometer has ranged from 73 to 95, averaging 84.
Augusta,Georgia.-There has been no rain during the week.
Average thermometer 78, highest 92, lowest 65,
Savannah, Georgia.
-There has. been rain on three days
during the week, the precipitation being two inches and
seventy-one hundredths. The thermometer has averaged
78, the highest being 89 and the lowest 69.
Charleston, South Carolina.
-There has been only a trace
of rain the past week. The thermometer has averaged 79,
ranging from 72 to 86.
-No rain during the week; a few
Charlotte, North Carolina.
local showers would help wonderfully. The thermometer
has ranged from 59 to 90, averaging 74.
The following statement we have also received by telegraph, showing the height of rivers at the points named at
8 a. m. of the dates given:
New Orleans
Memphis
Nashville
Shreveport
Vicksburg

Above zero
Above zero
Above zero
Below zero
Above zero

of
of
of
of
of

gauge_
gauge_
gauge_
gauge..
gauge_

Aug. 27 1909.
Feet.
6.1
14.2
8.2
3.2
13.2

Aug. 28 1908.
Feet.
5.9
11.4
7.8
1.1
14.1

-Our Annual Cotton Crop
COTTON CROP CIRCULAR.
Review will appear in the "Chronicle" in the issue of Septeinber 11, but will be ready in circular form about Wednesday September 8. 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.
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Week and Season.

1908-09.
Week.

Season.

1907-08.
Week.

Season.
Visible supply Aug. 20
2,042,145
1,785,933
Visible supply Sept. 1
1,714,982
2,201,844
American in sight to Aug. 27_ _
90,301 13,651.999 106,488 11,547,638
Bombay receipts to Aug. 26_ _
2,000 2,102,000
8,000 2,062,000
Other India ship'ts to Aug. 26_ _
14,000
449,000
406,000
27,000
Alexandria receipts to Aug. 21k
400
890,500
956,000
Other supply to Aug. 25 *
10,000
226,000
3,000
260,000
-.Total supply
2,158,846 19,034,481 1,930,421 17,523,482
Deduct
Visible supply Aug. 27
Total takings to Aug. 27
Of which American
Of which other

1,945,023 1,945,023
213,823 17,089,458
151,423 13,172,958
62,400 3,916,500

INDIA COTTON MOVEMENT FROM ALL PORTS.
August 26.

1908-09.

Receipts at
-

Since
Week. I Sept. 1.

Bombay

1906-07.

1907-08.
Week.

2,000 3,102,000

Since
Sept. 1.

Since
Week.' Sept. 1.

8,000 2,062,000 12,000 3,070,000

For the Week.

Since September 1.

Exports from
Great ContiBritain. nent.

Total.

Bombay
1908
-092,000 2,000
1907-08
7,000 7,000
1906-07
1,000 1,000
Calcutta
1908-09
1,000 3,000 4,000
1907-08
1,000 1,000 2,000
1906-07
3,000 3,000
Madras
1908-09
4,000 4,000
1907-08
____
4,000 4,000
1906-07
3.000 3,000
All others
1908-09
1,000 5,000 6,000
1907-08
1,000 20,000 21,000
1906-07
3,000 13,000 16,000
Total all
1908-09
1907-08
1906-07

Contineat.

Great
Britain.

Total.

25,000 590,000 615,000
28,000 658.000 686,000
63,000 1,196,000 1,259,000
7,000
6,000
10,000

57,000
35,000
162,000

8,000
10,000
9,000

34,000
38,000
54,000

42,000
48.000
63,000

32,00
26,000
23,000

2,000 14,000 16,000
2,000 32,000 34,000
3,000 20,000 23,000

50,000
29,000
152,000

318,000
297,000
273,000

350,000
323,000
296,000

72,000 992,000 1,064,000
70,000 1,022,000 1,092,000
105,000 1,675,000 1,780,000

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
Alexandria, Egypt. The following are the receipts and shipments for the past week and for the corresponding week of
the previous two years:
Alexandria, Egypt,
August 25.

1908-09.

1907-08.

1906-07.

1,700
6,677,987

1,000
7,172,030

900
6.862,494

This Since
Week. Sept. 1.

This! Since
Week. Sept. 1.

This Since
Week. Sept. 1.

2,000 197,933
2,750 221,142
2,250 374,384
1,250 92,800

1,500 230,421
3,500 214,138
1,700 380,623
1,500i 78,502

2,500 225,215
209,649
2,500 358,668
800 119.583

8,250 886,259

8,200903,684

3,800 913,115

Receipts (cantars)This week
Since Sept. 1

Exports (bales)
To Liverpool
To Manchester
To Continent
To America
Total exports

-Our report received by
MANCHESTER MARKET.
cable to-night from Manchester states that the market is
firm for yarns and quiet for shirtings. Demand for both
India and China is improving. We give the prices for today below and leave those for previous weeks of this and
last year for comparison.
1909.
32s Cop
Twist.
d.
ruly
10 9%
23 8%
30
Aug.
®
6 9
13 9
49
20 9%49
27 93.16 ®

1908.

83( lbs. Shirt- Coen
legs, common Mid.
to fittest.
Upl's
d. s. d.

s. d.

83 lbs. Shirt- Corn
tags, common Mid.
to finest.
Upi's

32s Cop
Twist.

d. s. d.

d. d.

s. d.

a.

4 11 ®9 3
9% 4 10 ®9 2
4 10%40 3

6.72 8%
6.48 84.i
6.73 8%

ki
40
40

50 ®8 15
9% 4 11 498 1
4 11 es 1

6.10
5.98
6.02

94i 4 10 (D9 2
9% 4 10 es 2
9% 4 103499 3
9% 411 4994

6.69 8%
6.72
6.67 8
6.73 74i

40
40
49
40

4 11 (48 0
4 10% 08 0
9 4 10 ®7 103-I
sn 49 710

6.26
5.92
5.59
5.25

SHIPPING NEWS.
-As shown on a previous page, the
exports of cotton from the United States the past week have
reached 24,475 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW YORK-To Liverpool
-Aug. 20
-Arabic, 830 upland, 322
foreign
1,152
To London-Aug. 20-Minneapolis, 177
177
To Manchester-Aug. 20-Tintoretto, 77 upland, 45 foreign_ _ _
122
To Dunkirk-Aug. 21-Callfornie, 122
122
To Bremen-Aug. 25-Friedrich, 2,484
2,484
GALVESTON-To Barcelona-Aug. 21-Irene,2,500
2,500
TEXAS CITY-To Mexico
-Aug. 18-Norheim,648
548
NEW ORLEANS
-To Havre
7,650
-Aug. 27
-Texas, 7,650
To Rotterdatn-Aug. 19-Riojano, 100
100
._
273
To Antwerp-Aug. 21-Rossetti, 273
MOBILE-To Liverpool
200
-Aug. 24-Almerlan, 200
-Aug. 24-Candidate, 8,271
8,271
To Havre
SAVANNAH-To Hamburg
25
-Aug. 21-Hohenfelde, 25
BOSTON-To Liverpool
-Aug. 23-Ivernia, 21k__ Aug. 24-Cymric, 24
49
To Yarmouth-Aug. 19-Prince George, 113_ _ _Aug. 20
Prince Arthur, 87
200
To St. John-Aug. 19-Calvin Austin, 192
192
-Aug. 20-Ulstermore, 410
BALTIMORE-To Liverpool
410
Total

24,475

The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:

Great French Ger- -Oth.Europe-- Mex.
Britain. ports. many. North. South. &c. Japan. Total
1,451
122 2,484
New York
____ 2_ 6
-- - - -- - 1104
3
City_
Galveston
548
--------------------- - 548
1,713,541 1,713,541 Texas
----- - --- -----8,023
Orleans------- 7,650
---- Nieowbtie
8471
iii -1
_ ___
200
,271
216,880 15,809,941
__ __
25
137,880 11,913,941 Savannah
49
Boston
441
-.- 79,000 3,896,000
410
Baltimore
410
.,

• Embraces receipts In Europe from Brazil, Smyrna, West Indies, ha.




545

. Total

2,110 16.043

2,509

373

2,500

940 ____

24,475

THE CHRONICLE

546

[VOL. Lxxxix.

LIVERPOOL.
-By cable from Liverpool we have the fol- reflec ted in the winter-wheat market, it being recognized
lowing statement of the week's sales, stocks, &c., at that port: that with spring wheat abundant and cheaper, winter wheat
Aug. 20.
Aug. 27. could not be maintained at former figures. Selling was also
Aug. 13.
Aug. 6.
41,000
37,000
59,000 partly stimulated by the discouraging tenor of cable advices,
48,000
Sales of the week
1,000
Of which speculators took
20366
3,000
1,000 notably from Continental markets and especially from Berlin,
Of which exporters took_
37,000
33,000
51,000 which was decidedly lower, owing mainly to better crop ad42,000
Sales, American
4,000
5,000
7,000
Actual export
3,000
45,000
44,000
Forwarded
52,000 vices in Germany and to liberal offers of cheaper Russian
59,000
879,000
911,000
850,000 wheat. In Liverpool the depression was partly ascribed to
Total stock-Estimated
932,000
791,000
818,000
754,000
Of which American-Est.._ _845,000
18,000
26,000
Total imports of the week_ __ _ 17,000
34,000 the larger world's shipments and resultant unexpected in16,000
15,000
Of which American
7,000 crease in the quantity on passage. Afterwards the weakness
7,000
53,000
57,000
Amount afloat
57,000
41,000
reports of beneficial rains in Ar17,000
21,000
Of which American
10,000 was partly chargeable to
27,000
gentina. Later there was rather more steadiness, as offerThe tone of the Liverpool market for spots.and futures ings were not so heavy, while sellers for the decline were ineach day of the past week and the daily closing prices of clined to take in profits. To-day prices rallied 1 to 1%,
spot cotton have been as follows:
shorts were nervous, owing to smaller primary receipts,
fear of frost in the Northwest and encouraging cables.
Spot.
Market 1
12:15 }
P. M. J

Saturday.
Quiet.

Monday.

Tuesday. Wednesday. Thursday.

Moderate.
demand.

Fair
business
doing.

Dull.

Mid. Upi'de

6.63

6.68

6.72

6.73

Sales
8pee.&exp.

12,000
500

10,000
500

5,000
200

10,000
500

Futures.
Easy at Steady at Steady at
Market 1 834 points 33% points 203 points
I decline, advance, advance.
opened

Quiet at
1 point
decline.

Friday.

DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
110
10934 11034
1103% 110
112
No. 2 red winter, f. o. b
1073% 106 % 1073%
September delivery In elevator_ _ _ _108 34 10731 107
December delivery In elevator__ _ _104 A 1023% 1023% 1023% 1023% 10334
6.78
6.73
10534 1043% 10434 1033% 10334 1053%
May delivery in elevator
10,000
10,000
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
500
500 '
Sat. Mon. Tues. Wed. Thurs. Fri.
September delivery in elevator_ __ _ 99'X 98 34 97% 9734 97
99%
,
Steady at Quiet at
95 % 94 % 9434 94 A 94 A 955i
5 points 5% points December delivery in elevator
9734 98%
90 A 98 54 98 A 98
May delivery in elevator
advance.
decline.
Fair
business
doing.

Moderate
demand.

Corn prices moved erratically in the past week. Traders
were made nervous and timid by the great abundance of
conflicting influences. Constant and spasmodic fluctuations
•
were the natural outcome of many vague and contradictory
The prices of futures at Liverpool for each day are iven rumors as to crop conditions in many sections, and notably
below. Prices are on the basis of upland, good ordinary west of the Mississippi River. In some places the temperature was up materially, while there had been no general
clause, unless otherwise stated.
rainfall for weeks. Consequently it was asserted that serious
The prices are given in pence and 100ths. Thus, 6 51 means 6 51-100d.
deterioration had taken place, and notably in Nebraska and
Kansas. Indeed there was scarcely an important cornThurs.
Sat.
Wed.
Fri.
Mon.
Tues.
Aug. 21
producing State west of Ohio that did not need rain and
123% 4 123% 4 123% 4 1231 4 12% 4
to
123% 123%
Aug. 27. P.m. P.m. P.m. p.m. P.m. P.m. P.m. p.m. P.m. p.m. P.M. p.m. lower temperature. Notwithstanding this, crop reports
were not altogether pessimistic. In fact the outlook has
d.
d.
d.
d.
a.
a.
d.
d.
d.
d.
d.
been considered bright in almost all States east of the great
August _ _
6 51 % 58 58 62 63 6334 62 68 68 63 65
-Sept
Aug.
6 4134 48 48 52 5334 54 52% 58 58 53 55% river. Therefore the impression obtains that because of
-Oct.
6 3734 43% 44 4734 48 49 47% 5334 53 48% 51
Sept.
the huge area a big crop will be secured; indeed, many
Oct,
-Nov.
6 3634 42 A 42 46 47 4734 46 52 51% 47 49
conservative dealers believe that a new record will be estabNov.
-Dec. ___638 41 % 41 A 45 46 46 45 5036 50% 45% 48
5034 45% 48
-Jan _
Dec.
6 36 4134413445 46 46 45 503%
lished. Consequently many well- informed dealers were
5034 46 48
6 363442 42 453% 4634 4634 45 51
Jan.
-Feb_
Feb.-Mch.
6 36 41 A 41 A 45 4534 46 44% 503% 50 45% 47% holding off or selling their holdings, as they anticipate larger
Mch.-Apr.
6 36 41% 41 3,6 4434 45 4534 4434 50 49% 45 47% deliveries of old corn by farmers at country stations in the
Apr.
-May
6 3534 41 41
44 4434 45 44 4934 49 44% 47
near future.
6 3534 41 41
May-June
433% 44 4434 4334 49 48% 44 47
June-July
6 36 4034 4034 43 433% 44 43 49 4834 43% 463%
To-day there was more firmness and a slight rally, which
July-Aug_ .634 39 39 42 4234 4234 4134 4754 47 42% 45%
was mainly ascribed to continued dry weather and hot
winds west of the Mississippi River.
Market)Barely st'y Quiet at Steady at Quiet at
6@73% pts.5063% pts.3 ®5% pts. 34 @I pt.
4
deel ne. advance
P. M.
advance
decline.

Quiet at
Firm at
506 pts. 13%(t3 pts.
advance.
decline.

BREADSTUFFS.
Friday Night, Aug. 27 1909.
Flour has declined, leading to a larger volume of business.
The weakness was largely caused by highly favorable harvesting returns in the Northwest. In many instances the
yield has been even larger than was anticipated, and as the
grain was uncommonly dry, farmers have been able to make
liberal deliveries to country stations. As a result, receipts
t Minneapolis were unexpectedly heavy, and consequently
prices there declined in a somewhat startling fashion, going
abruptly to a new-crop basis practically a week sooner than
generally counted on. This naturally stimulated millers
to greater activity and induced them to offer both old and
new flour on a lower basis, and this in turn led jobbers and
big distributers to buy on a bigger scale. It was asserted
that several important lines of old spring patent had been
sold sub rosa at a secret cut in prices. This, of course, made
holders of new winter-wheat flour more anxious to sell, and
hence they made reductions on cost and this brought about
fairly spirited dealings.
Wheat was appreciably lower. The decline was particularly rapid in spring-wheat markets,and notably in Minneapolis. This latter wasin fact the key-note to the whole situation.
Harvesting in the Northwest has made such surprisingly
rapid progress and the outturn was so highly satisfactory
that farmers became eager to sell freely, and hence the grain
was rushed to market even faster than anticipated. Therefore receipts at Minneapolis were decidedly heavy and particularly on Monday, when cash prices were hammered down
20 to 25 cents a bushel in a few minutes. Needless to say
millers and elevator owners were shrewd enough to foresee
the inevitable result, and doubtless did all they could to
increase the depression. Having already sold large quantities of flour for forward shipment, it was small wonder that
millers were pleased to see wheat plentiful and cheaper.
With stocks of old wheat almost exhausted, it was safe to
assume that a large part of the wheat received in Minneapolis and elsewhere during the week had already been sold to
millers before being shipped. While the big decline may
have seemed sensational to the inexpert, it created little
surprise among regular dealers, who realized that the inevitable transition from the old to the new-crop basis had merely
taken place with unexpected abruptness, instead of coming
about gradually. This abrupt change was naturally quickly




DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat. Man. Tues. Wed. Thurs. Fri.
8034 803% 803% 803% 803% 77%
Cash
a
74 % 75 A 75
75
75
75
September d 211vzry in elevator_
coni
66
66 % 66
6634
December delivery in elevator_ _ _ _ 67 X. 66
May delivery in elevator
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Times. Fri.
September delivery in elevator_.._ 663% 653% 6634 653% 653% 653-4
December delivery in elevator_ _ _ _ 5734 553% 563% 553-4 553.4 563-4
57
5734
May delivery in elevator
583% 57
573-4 57

Oats were lower, although afterwards there was a partial
recovery. Early in the week offerings were large and buyers
exceedingly cautious, owing mainly to heavy receipts at primary points and the big addition to the visible supply. Commission houses and country shippers have sold freely of
September or the distant deliveries against cash oats bought
at country points. Threshing returns were decidedly satisfactory in most cases, and consequently receivers have
shown more anxiety to sell,and especially low grades of new,
which were most plentiful and least wanted. As a result,
there has been a wide breach between values of poor new
and choice old. The downward tendency was checked temporarily by the fear of serious damage to the corn crop, owing
to the long drought and hot weather and especially west
of the Mississippi River.
To-day a strong feeling was developed, prices recovering
%c. to 1c. Sellers for the decline were anxious to cover.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Tues.
Wed.
Mon.
Thurs.
Sat.
Fri.
49
40
49
49
No. 2 white..
36
White, clipped, 34 to
39_43
59
50-51
51-42
59
50-51
48-49
lbs
46-47
.
satA
IN Thu C A Fri.
.
DAILY CLOSING PRICES OF 0 TS oFn.UTTUeeRs.ES Wed.CH lrs GO.
July delivery in elevator
Decem her delivery in elevator
May delivery in elevator

3734 3634
,
37 i4 365-4
403-4 393%

363%
36
3934

3654
36%
3934

3634
36 A
301,i

37y,
37
3994

The following are closing quotations:
FLOUR.
,
Winter, low grades .....$4 40@ 34 75 Kansas straights, acks.35 00 ® $5 25
,,
"____ 4 65® 4 85
Winter patents, new _ is so:,) 5 75 Kansas clears
6 50® 6 75
Winter straights, new.. 5 00@ 5 40 City patents
4 25 0 4 75
4 75® 5 00 Rye flour, bbls
Whiter clear, new
85 50 Corn a neal. k
0 Grah m i flouir
4 15® 4 40
Spring patent..
in dried
6 603
5
.__ @ 3 75
Spring straights
5 50
6 25@
Spring clears
GRAIN.
Cents. Corn, per bush.Cents.
Wheat, per bush.No. 2 mixed
1073%
elev. 7734
N. Duluth, No. 1, new
105%
No. 2 yellow
elev. 783%
N. Duluth, No. 2_ _...
No. 2 white
elev. _ _
Red winter. No. 2 new f.o.b. 11O'4
.. . new
11234 Rye, per bush.Hard "
No. 2 Western, new..._f.o.b. 76
Oats, per bush.State and Jersey
Nominal
Nat white. 26 to 28 lbs.- - 40-J42
40®41 Barley-Malting
Nominal
Mixed.26 t )32 lbs.
Feeding, o. 1. t. N Y.._ 570 58
Wh. clip'd 341 36 lbs. __ 46 047
For other tables usually given here, see nage 509.

547

THE CHRONICLE

AUG. 28 1909.

sliodtui itnoy

The value of these New York exports since Jan. 1 has been
The visible supply of grain, comprising the stocks in
points of accumulation at lake and $14,358,911 in 1909, against $7,595,399 in 1908.
granary at principal
Domestic cottons available for quick and near-by shipseaboard ports Aug. 21 1909, was as follows:
ment have had quite a brisk sale in jobbing houses; retailers
AMERICAN GRAIN STOCKS.
have applied themselves more freely on most staple lines,
Barley,
Rye,
Oats,
Corn,
Wheat,
aggrebush, and while individual orders have not been large, the
bush.
bush,
bush.
bush.
25,000 gate has reached good proportions. The demand for ging12,000
261,000
54,000
359,000
New York
1,000 hams and flannellettes has been particularly active, and
7,000
67,000
37,000
Boston
1,000
28,000
162,000
Philadelphia
substantial quantities of wash goods were moved; the
41,000
96,000
63,000
523,000
Baltimore
127,000
118,000
offering of 1,500 cases of Hamilton Print Works goods by a
201,000
New Orleans
29,000
496,000
/
Galveston
17,000 prominent local jobbing firm at 45 c. and 5c., or well below
51,000
39,000
3,000
312,000
Buffalo
1,000 prices recently secured, attracted a large number of buyers
249,000
16,000
21,000
783,000
Toledo
1,000 and
17,000
106,000
108,000
204,000
Detroit
resulted in a lively sale. Bleached goods, sheetings and
3,000
849,000
544,000
564,000
Chicago
9,000 drills have had a fair call. Cotton linings have ruled gener1,000
22,000
38,000
108,000
Milwaukee
16,000 ally quiet; jobbers have continued to make moderate-sized
16,000
33,000
69,000
46,000
Duluth
23,000
3,000
62,000
6,000
381,000
Minneapolis
15,000 purchases and report a fair fall trade, but retailers have
189,000
1,000
70,000
1,337,000
St. Louis
185,000
227,000
1,460,000
shown little disposition to anticipate requirements. In the
Kansas City
1,000
588,000
9,000
30,000
Peoria
print cloth market printers have made comparatively heavy
115,000
102,000
595,000
Indianapolis
15,000
438,000
679,000
603,000
purchases of narrow goods for delivery through the last
On Lakes
26,000
24.000
On Canal and River._ _ 383,000
three months of the current year; wide goods have remained
173,000 1 108,000 rather quiet; prices of both regulars and standard wide cloths
Total Aug. 21 1909.- 8,584,000 2,243,000 3,413,000
205,000 ruled
154,000
2,442,000
Total Aug. 14 1909- 8,283,000 2,124,000
unchanged but firm.
CANADIAN GRAIN STOCKS.
-Some lines of fancy dress goods for
WOOLEN GOODS.
Barley,
Rye,
Oats,
Wheat,
Corn,
bush. spring were opened during the week and the offerings include
bush.
bush,
bush,
bush,
84,000 a wide variety of patterns; the response so far has been poor
379,000
514,000
76,000
Montreal
and buyers have given little indication of what styles they
119,000
Fort William
123,000
Port Arthur
will prefer. The jobbing trade has not shown much interest
202,000
Other Canadian
yet. Retailers and cutters have continued to buy quite
84,000
514,000
76,000
Total Aug. 21 1909._ 823,000
87,000 freely from jobbers for fall, numerous duplicate orders being
162,000
Total Aug. 14 1909._ 1,368,000
83,000
received. Broadcloths appear to lead in the demand for
SUMMARY.
fall, and much interest is being taken in the offering next
x:
Barley, week, beginning Tuesday, of 10,000 pieces of broadcloths by
Rye,
Oats,
Wheat,
Corn,
bush.
bush.
bush.
bush.
largest offering
108,000 the H. B. Claflin Co.; this is said to be the
173,000
8,584,090 2,243,000 3,413,000
American
84,000 of its kind ever made in this market. In men's wear a satis514,000
823,000
76,000
Canadian
booked for spring and the
192,000 factory initial business has been
173,000
Total Aug. 21 1909._ 9,407,000 2,319,000 3,927,000
292,000 market is now generally quiet, although agents handling the
154,000
Total Aug. 14 1909_ _ 9,651,000 2,207,000 2,604,000
166,000 1 610,000 highest-priced fabrics are still receiving some orders. Can1,771,000 2,888,000
Total Aug. 22 1908_ _16,839,000
151,000 -1 478,000
Total Aug. 15 1908_ _17,743,000
1,576,000 2,265,000
249,000 cellations have continued in evidence, but are not as exten593,000
1,602,000
Total Aug. 24 1907..51,518,000 3,883,000
25 190&..31,229,000 2,507,000 5,870,000 1,357,000 1 846,000 sive as some factors expected, and it seems reasonably certain
Total Aug.
737,000
852,000
Total Aug. 26 190&_12,012,000 5,106,000 10,374,000
814,000 that sufficient business will stand to keep leading producers
Total Aug. 27 1904_ _11,988,000 3,898,000 6,329,000 1,004,000
well engaged. Fall duplicating has been of fair volume.
-Demand for imported woolen
FOREIGN DRY GOODS.
THE DRY GOODS TRADE.
and worsted goods, notably men's wear light-weights for
springs has been well maintained. Linens have ruled active
New York, Friday Night, flug. 27 1909.
and strong in all departments both for fall and spring.
Conditions in textile markets, as well as the character of Trade in burlaps has been of fair size; prices have remained
but little change during the unchanged, but the market displays a firm undertone, and
the trading, have undergone
week. In the primary cotton goods market narrow print there is talk of further advances.
cloths and some wide constructions have been taken by Importations and Warehouse Withdrawals of Dry Goods.
printers, but converters have not placed many orders; they
The importations and warehouse withdrawals of dry goods
are apparently waiting for mills to release more spot mer- at this port for the week ending Aug. 21 1909 and since
chandise and for the prospective demand from jobbers to Jan. 1 1909, and for the corresponding periods of last year,
become more clearly defined. Heavy cloths have ruled are as follows:
quite steady, with prices still much below a parity with raw
materials. Mills with cotton on hand have continued to
offer goods for prompt or near-by delivery at slight conces0
sions, but despite such offerings the cotton goods market
CA
as a whole has remained firm, and on future contracts
Si
manufacturers are, if anything, firmer in their views. Coma
plaints that buyers are purchasing in a hand-to-mouth way
Si
and hesitate to pay prices commensurate with the high cost
Si
•
of cotton are numerous, but in not a few instances buyers
have be en compelled to replenish stocks at the figures asked.
'11
0
.
et
o. 0;ob
'
000.
"N
Goods released at prices below the level fixed for contracts
eis4.0cOM
oe 0010.M.
a
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cc.
0
•;
with a ready sale. As was the case in the prehave met
CA
ceding week, jobbing houses have enjoyed an active and
a.
4,0
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a. CO oa
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WOWOW.z.0g*
healthy business in domestics, white goods, wash goods,
4
an c
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.
c
CC
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1m iviso
WCO
ts owoo.o.
ts, to
ow
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especially ginghams and flannellettes, dress goods, and in
wowww
a,"I
IND
Cn Cc
other divisions, and while the volume of trade is not of
8
CS
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WN
record proportions, the merchandise, it is understood, is
.
4
O C cm cm 4 co
40 cm C4014. Os+
WO
cm . co 0 co CD
4
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a.
ON
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being moved at a fair margin of profit. Special offerings
O
CS Ca,5
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is Cs Co
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of wash and dress goods by one of the leading jobbing houses
CO Cs .4 CS to is
4:
OW
attractive prices stimulated buying and the goods were
at.
a, a,
co
WN
quickly disposed of. Export trade has remained very quiet,
MN
MO
Si
owing to the high prices asked. Trade in dress goods for
In n
CAW
OW
W.
WO
fall has been fair, but fancy lines shown for spring have not
Si
0
displayed much activity. In men's wear satisfactory dupliSi
00
OW
00
OW
cate orders for fall have come forward; the market for spring
goods, however, is quiet, following a good initial business.
111
04 4.
M.
Co "
c it
cm6Cm"
&v i,
"CroW
-The exports of cotton 'E " " MU.MC4
DOMESTIC COTTON GOODS.
C 000
VO
OD is ba Cs
0I
WN
4
- C4 04.1M0000.
goods from this port for the week ending Aug. 21 were 3,959,
Pe. if,
.
C
ts
nt=1
packages, valued at $341,838, their destinaiton being to the
Cm
O4
" ,
points specified in the tables below:
0.am
4,N
a.

Total __




3,959

255,700

_
t-15
1,966
532
615
12
315
795
530

- 110,054
5,402

C4
C4
-

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00
000
14 M
co
ow
W.
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- C4
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to Cs c, 0

›.
(INV 6061 1

Week.
5

Since
Jan. 1.
546
720
17,461
6,686
21,258
6,291
15,566
1,128
10,455
25,944
12,999

•(10IIK1,1 HAWS

1908

8 eV OLV LI,

1909---Since
Week. Jan. 1.
New York to August 21.
1,077
28
Groat Britain ----------------------755
52
Other Europe----------------------China------------------------------ - - - 128,873
11,173
India
290
20,206
Arabia
10,219
369
Africa
2,185
27,525
West Indies
Mexico
32
1,095
101
9,270
Central America
- 378
33.401
South America
358
12,166
Other countries

THROWN UPON THE MARKET.

6E9`c01'601 0179'Ll72

181

:4
am

THE CHRONICLE

548

STATE Ala CITY

[VoL. lax=

Hannibal, Mo.-Bonds Called.
-The following 4% electricDtritlynytttii, light bonds dated May 1 1904 have been called for payment,
For $100 each-Nos. 1 to 27, 29 to 34, 36, to 48, 50 to 70, 75 to 77, 70 to
84, 86 to 88, 92 to 96, 102 to 113. 122 to 128, 144 to 180, 191 to 199
both numbers inclusive.
For $500 each-Nos. 401 to 420 inclusive.
For $1,000 each-Nos. 441, 442, 452 to 454 inclusive.

News Items.

-Legislature Adjourns.
Alabama.
-The special session of
Interest ceased Aug. 12 1909.
the Legislature, which convened July 27, ended at 11:30
p. In. Aug. 24. As previously reported, the income tax
Tacoma, Wash.
-Bond Call.
-The following bonds wer
amendment was accepted by a unanimous vote. V. 89, called for payment Aug. 10:
p. 485.
Nos. 105 to 115 inclusive of Local Improvement District No. 239; No. 13
of Local Improvement District No. 249; Nos. 31 10 35 inclusive of Local
Connecticut.
-Legislature Adjourns.-The Legislature of Improvement District No. 290; Nos. 15 and 16 of Local Improvement
District
Nos.
of Local Improvement
this State adjourned at 3:30 p. In. on Aug. 24. As already • No. 300:No. 298; to 22 23 to 36 inclusive Improvement District District
Nos. 14
inclusive of Local
stated, action on the proposed income tax Amendment to Nos. 4 to 6 inclusive of Local Improvement District No. 162; andNo. 351;
Nos. 68
the Federal Constitution was postponed until the next ses- to 122 inclusive of Local Improvement District No. 514.
sion, which will be held in 1911.
New York City.
-Realty Exemptionsfor 1909.
-On Aug. 25
Bond Proposals and Negotiations this week
the Department of Taxes and Assessments issued a report
showing the total value of property exempt from taxation Nave bean as follows:
for 1909 to be $1,297,301,451, an increase of $57,417,653
Akron, Ohio.
-The 15 issues of bonds aggre-Bond Sale.
over the year 1008. We give below the figures for both gating $161,162, described in V. 89, p. 424, were disposed
years according to boroughs:
of on Aug. 21 as follows:
1909.
$932,705,650
87,679,385
230,774,655
33,021,700
13,120,061

Manhattan
The Bronx
Brooklyn
Queens
Richmond
Totals

$1,297,301,451

Inc. over 1908.
1908.
$001,855,690
$30,849,960
83,734,580
3,944,805
213,147,395
17,627,260
28,443,637
4,578,063
12,702,496
417,565
$1,239,883,798

857,417,653

• The. Fifth-Third National Bank of Cincinnati bought $17,300 47
%
public-improvement bonds for $17,543 93 and $18,240 4% Summer St
*
.
bonds for $18,371 32; C. B. Denison & Co. of Cleveland bought $35,000 4%
school bonds for $35,108 75; the Second National Bank of Akron bought
$16,000 45i% Broadway paving bonds for $16,276, $2,100 4 A% Maple St.
bonds for $2,123 80, $1,700 4J.% Washington St. bonds for $1,720 36,
$17,100 4% Washington St. bonds for 817,353 70, $1,000 4% Case
Ave. bonds for $1,011 88, $4,350 4% Kenmore Boulevard bonds for
$4,390 28 and $16,400 4% (city's portion) bonds for $16,803 12; Otis F0
Hough of Cleveland and Seasongood & Mayer of Cincinnati, jointly,
bought $12,670 4% Allen St. bonds for $12,772, $4,362 4% Schell
Ave. paving bonds for $4,364 and $4,840 4 % Case Ave. paving bonds
for $4,842, and Hayden, Miller & Co. of Cleveland bought $1,600 43i%
Falor St. bonds for 81,606 and $8,500 4%% lire-engine bonds for $8,603.

The report shows that out of the total value of $1,297,301,451, $806,747,324 represents the exempt land value.
The most valuable single piece of land is Central Park, the
land value of which is placed at $200,000,000 and the total
Bonds Authorized.
-The City Council on Aug. 16 passed
value $215,000,000. The following are included in the list
ordinances providing for the issuance of bonds to .pave the
of the city's holdings:
Central Park
$215,000,000 Madison Square
$7,000,000 following streets: $11,825 for Maple, Howard and Broad
Prospect Park (Brooklyn) 30,600,000 Union Square
4,000,000 streets; $24,00.0 for Bowery and Thornton streets; $3,300
Rapid Transit Manh't'n_•51,075,000 Bellevue Hospital
1,400,000 for Payne Avenue; $4,800 for
Grand Avenue; $1,800 for
Subways
Bronx ___ 4,550,000 Street Cleaning DepartBrooklyn
7,400,000
ment and hospitals_ _ _ - 1,050,000 Ladd Street; $17,500 for Howard and Ladd streets; $6,250
IManh't'n_ 26,000,000 N. Y. Public Library_
14,500,000 for Kling Street, and $13,800
for Maple Street.
Sewerage
Bronx ___ 5,650,000 Hall of Records
6,300,000
Systems_ _ _ Brooklyn 21,500,000 Bryant Park
6,000,000
Akron School District (P.0. Akron), Washington County,
Queens __ 1,870,000 Blackwells Island PenitentRichmond
500,000
tiary and Hospital.___ _15,000,000 .Colo.
-Bonds Defeated.
-An election held June 19 resulted in
1Manh't'n_ 16,100,000 Seventh Reg. Armory_ _ _ _ 1,900,000
defeat of a proposition to issue $12,500 5% 20-40-year
Bronx
_ 3,100,000 Normal College
1,700,000 the
Water Supply Brooklyn
5,661,000 bast River Park
1,660,000 (optional) building bonds.
Queens __ 3,315,000 Mulberry Bend Park
1,125,000
(Richmond
100.000 Mount Morris Park
7,500,000
Alexandria, La.
-The question of issuing
-Bonds Voted.
Washington Park (Bkn)_ 3,098,500 Morningside Park.
4,000,000
the $40,000 5% power-plant-extension bonds mentioned - in
City Hall Park
28,380,000 College of the City of
Battery Park
New York
15,025,000
2,160,000 V. 89, p. 238, was favorably voted upon Aug. 17. The vote
Bowling Green Park_ _ _ _ 1,750,000 High Bridge Park
1,652,000
Seward Park
1,500,000 Crotona Park
5,725,000 was 94 to 2. Maturity July 1 1949, subject to call after
Tompkins Square Park__ 3,000,000 Bronx Park_
55,
8, 1,000 July 11929. These bonds will be offered for sale in about
Washington Square Park 3,000,000 Pelham Bay Park
5,250,000 40 days.
West Washington Market 1,100,000 City Prison.
1,500,000
City Docks
5,300,000 Criminal Court
1,650,000
Alma, Appling County, Ga.-Bonds Voted.
-Of a total of
Manhattan Square
10,250,000
52 votes cast at an election held July 31, only 3 were against
• $4,000,000 of this amount equals 1-3 of the city's ownership in the
the issuance of $3,000 5% 30-year school bonds.
Park Avenue Tunnel.
Alpine Independent School District (P.0. Alpine), BrewsThe following are among the pieces of exempt property
-Bonds Not Sold.
-Up to Aug. 17 no sale
held by private corporations. The list is headed by Trinity ster County, Tex.
had yet been made of the $30,000 5% 5
-40-year (optional)
Church, which is valued at $17,600,000.
$17,600,000 St. Thomas P. E. Church.$1,450,000 building bonds which this district has been endeavoring to
Trinity Church
9,450,000 Fifth Ave. Presbyt'n Ch
Greenwood Cemetery__ _
1,700,000 dispose of. The bonds are dated July 1 1909 and were regis10,250,000 Temple Emanuel
Columbia College
1,900,000
6,750,000 Presbyterian Hospital_ _ 2.500,000 tered by the State Comptroller on July 26. See V.89, p. 362.
St. Patrick's Cathedral
2,500,000 Synagogue Temple BethEl 1,300,000
Lenox Library
Arcola School District, Madera County, Cal.
-Bond OfferSt. Paul's Church & Cem. 5,150,000 Mt. Sinai Hospital
2,609,000
Cathedral Church of St.
Gen'i Theological Sem'Y
-Proposals will be received until 11 a. m. Sept. 20 by
ing.
John the Divine
of the P. R. Church_ _ 1,625,000
4,100,000
St. Francis Xavier R.C.C. 1,580,000 St. Luke's Hospital
2,650,000 W. R. Curtin, Clerk of the Board of Supervisors (P. 0.
1,301,000 Masonic Hall & Asylum Fd 1,300,000 Madera), for $4,000 6% gold coupon school-building bonds.
New York Hospital
Collegiate Reformed Ch_ 1,250,000 Academy of the Sacred
Brick Presbyterian Ch
Broadway Tabernacle
Roosevelt Hospital
Coll. Dutch Ref. Church

1,550,000
Heart
1,000,000 Teachers' College
1,750,000 Barnard College
1,800,000

1,900,000
2,100,000
1,500,000

Authority, Political Code, Sections 1880-1887. Denomination $400.
Date Sept. 20 1909. Interest annually at Madera. Maturity $400 yearly
from 1910 to 1919 inclusive. Bonds are exempt from all taxes. The district has no debt at present. Assessed valuation 1909, $450,000.

--Bond Election
Armstrong County (P. 0. Claude), Tex.
Property in this city owned by the United States Government amounts to about $64,500,000. The following are in- An election will be held Sept. 25, it is stated, to vote upon
a proposition to issue $55,000 court-house bonds.
cluded in the list:
$6,300,000 Fort Hamilton
Governor's Island
-On Aug. 23
Ashland, Ashland County, Ohio.-Bond Sale.
$1,380,000
7,900,000 Post Office, Manhattan__ 10,600,000
Custom House
improvement bonds
2,130,000 Brooklyn Post Office__ _ _ 1,018,000 the $4,600 5% coupon Chestnut Street
Assay Office
5,275,000 Barge Office
Sub-Treasury
540,000 described in V. 89, p. 424, were awarded to the Ashland
2,000,000 Brooklyn Hosp'l & Cem_ 1,000,000 Bank & Savings
Fort Schuyler
Co. at 105.884 and accrued interest. The
26,560,000
Navy Yard
bids were as follows:
-Legislature Finds Special Session-Action Ashland Bk. & S. Co., Ash_$4,870 67} Hayden, Miller & Co., Clev.$4: 03 0i
Washington.
&4 718 10
Deposit
-The Legislature, Farmers' Bank, Ashland __ 4,862 36 Citizens' SafeToledo
ON Income Tax Amendment Postponed.
First Nat. Bank, Ashland_ 4,833 00
Trust Co.,
which convened in special session on June 23(V. 89, p. 115),
Maturity $230 each six months from March 1 1910 to Sept. 1 1919 inA
adjourned at 6:20 p. m. on Aug. 21. The proposed amend- clun Aug.tc i
os h
ment to the United States Constitution, which, if ratified
tabula County (P. 0. Jefferson), Ohio.
-Bond Sale.by three-fourths of the State Legislaturesjauthorizes Con26 Hayden, Miller & Co. of Cleveland were awarded,
gress to collect taxes on incomes without apportionment it is stated, tile $35,000 ‘1 M% 1-10-year 8serp. 424,
(, ia1) coupon
9
cou
e
among the States and irrespective of population (V. 89, p. road-improvement bonds described in V.
session, in 1911, $35,807 50-the price thus being 102.307-a basis of about
177), was put over until the next regular
this action having been recommended by a special committee 4.029%.
appointed to consider the amendment.
• Baird Independent School District (P. 0. Baird), Callahan
County, Tex.
-Bond 0/tering.-T. E. Powell, President
School Board, is offering for sale the $20,000 5% 10-40-year
Bond Calls and Redemptions.
(optional) school-house bonds registered by the State CompCincinnati School District (P.0. Cincinnati), Ohio.
-Bond troller (V. 89, p. 58) on June 26. Denomination $500.
Call.
-Payment will be made on Oct. 1 at the American Date June 10 1909. Interest annual.
National Bank of New York City or the Fifth-Third National
Baldwinsville, Onondaga County, N. Y.
-Bond Offering.
Bank of Cincinnati of 4% bonds numbered from 341 to 370 Reports state that the Board of Village Trustees has adverinclusive. Denomination $500. Date Oct. 1 1891. Ma- tised for proposals for $50,000 refunding water bonds.
turity Oct. 11911, subject to call after Oct. 11901.
Barry, Pine County, Minn.
-Bond Offering.-Proposals
Everton School District, Dade County, Mo.-Bond Call.
-- will be received until 2 p. in. Sept. 4 by F. J. Knowlton,
'Bond No. 8 for $1,000 at 6%, dated May 15 1899, was Town Clerk, (P. O. Hinckleffi, for $10,000 516% refunding
7
called for payment Aug. 22.
road and bridge bonds.




Aua. 28 1909.]

THE CHRONICLE

549

-Bonds Defeated.
Carbondale, Osage County, Kan.
Date Sept. 1 1909. Interest annual. Maturity on Sept. 1 as follows:
*2.500 in each of the years 1914 and 1919 and $1,000 yearly from 1920 to The election held August 23 (V. 89, p. 238) resulted in the
1924 inclusive. Certified check for $200 is required.
defeat of the proposition to issue the $8,000 light-plant
Basin, Bighorn County, Wyo.-Bond Offering.-Proposals bonds. The vote was 36 "for" to 71 "against."
will be received until 6 p. m. Aug. 30 by W. S. Collins,
-Bonds Voted.
Carter County (P. 0. Ardmore), Okla.
Mayor, for $13,000 6% irrigation bonds.
the Propositions to issue court-house and road and bridge bonds
Denomination $500. Date Sept. 1 1909. Interest annually atsub- to the
amount of $385,000 were favorably voted upon Aug. 17.
National Bank of Commerce in New York City. Maturity 20 years,
-house issue was 1,788 to 871 and on
ject to call after 10 years. Certified check for $500, payable to the Town The vote on the court
is required.
Treasurer,
the road and bridge bonds was 1,830 to 840.
-Bond Offering.-Proposals
Mich.
Bay City, Bay County,
-Further details are
-Bond Offering.
Charleston, S. 0.
will be received until 3 p. m. Aug. 30 by E. E. Prohazka,
City Comptroller, for $13,000 5% local-improvement bonds. at hand relative to the offering on Sept. 15 of the $300,000 4%
Denomination $1,000. Date Sept. 15 1909. Interest semi-annually in coupon sewerage-system bonds described in V. 89, p. 486.
15 1914 and
New York City. Maturity 16.000 Sept. 15 1912, $4,000 Sept.Comptroller.
$500, payable to the
Proposals for these bonds will be received until 12 m. on
$3.000 Sept. 15 1917. Certified check for interest.
Is required. Purchaser to pay accrued
that day by J. 0. Lea, City Treasurer.
-Bond Offering.
Bay County (P. 0. Bay City), Mich.
Authority, election held June 29 1909. Denominations $1,000 and $500.
Proposals will be received until 10 a. In. Oct. 11 by Willard Date Oct. 1 1909. Interest semi-annually at the City Treasury in CharlesN. Sweeney, County Clerk, for $25,000 coupon refunding ton. Maturity Oct. 1 1929. Bonds are free from city taxes.
The official notice of this bond offering will be found among
bonds at not exceeding 5% interest.
Authority, Act No. 192, Acts of 1903. Denomination $1,000. Date the advertisements elsewhere in this Department.
Interest semi-annually in New York City. Maturity Dec.
Dec. 15 1909.
County
-On August 25 the
-Bond Sale.
15 1923. Certified check for $500, payable to theand pay Clerk, is required.
Chattanooga, Tenn.
accrued Interest.
Purchaser to furnish lithographed blank bonds defaulted in payment of $125,000 sewer and $150,000 school ,
Oi% 30-year coupon
Official notice states that the county has never
bonds described in V. 89, p. 300, were awared, it is stated,
principal or interest.
-An election will be held to the Hamilton National Bank and the Hamilton Trust &
-Bond Election.
Beaumont, Tex.
Sept. 28 to allow the voters to determine whether or not this Savings Bank of Chattanooga.
city shall issue $50,000 sewer-system-extension and $10,000
Chesterfield Township (P. 0. Orosswicks), Burlington
street-paving bonds.
-On Aug. 23 E. Brick of CrossCounty, N. J.
-Bond Sale.
-Ac- wicks was awarded the $10,0004% 1-5-year (serial) coupon
-Bond Election.
Beaumont City School District, Cal.
cording to reports, a proposition to issue $2,500 grammar school-building bonds described in V. 89, p. 486, at 101.12
-a basis of about 4.10%. A bid at
school bonds will be submitted to a vote of the people on and accrued interest
100.25 was also received from the Bordentown Banking Co.
Sept. 3.
for
Beaumont High School District (P. 0. Beaumont), River- of Bordentown, while Mrs. J. E. Holloway offered par
-An election will be held $1,000 bonds.
-Bond Election.
side County, Cal.
-Bond Offering Rescinded.
Chicago Sanitary District, Ill.
Sept. 3, it is reported, to vote on the question of issuing $20,-The offering of the $1,500,000 4% bonds described in V.
000 high-school bonds.
-At the 89, p. 486, which was to have taken place Sept. 15, was
-Bond Election.
Beaver Falls, Beaver County,Pa.
the citizens of this town, it is stated, will vote rescinded. The Board of Trustees states that it is expected
fall election
that these bonds will again be placed on the market at
upon a proposition to issue sewer bonds.
papers state that an ordinance some future date.
-Local
Bonds Authorized.
-Bond
Claremont School District, Fresno County, Cal.
authorizing the issue of $16,000 crematory bonds was recently
Sale.
-This district recently disposed of an issue of 5%
passed.
-A propo- bonds, it is stated, to the Merchants' Bank & Trust Co. of
Belden, Cedar County, Neb.-Bonds Voted.
a premium of $163 43.
sition to issue $7,500 5% 5-20-year (optional) water bonds Los Angeles for
-An election
-Bonds Voted.
Clinton, Custer County, Okla.
carried by a vote of 42 to 10 at an election held July 26.
to issue the
(P. 0. Bellaire), Belmont County, held Aug. 13 resulted in favor of propositions
Bellaire School District
will be received until following 6% 25-year bonds: 188 "for" to 35 "against."
-Bond Offering.-Proposals
Ohio.
$15,000 funding bonds. Vote of
"against."
12 m. Aug. 30 by the Board of Education, H. A. Lichten$25,000 sewer bonds. Vote of 198 "for" to 32 "against."
of 200 "for" to 28
$20,000 water bonds. Voteof 137 "for" to 89 "against."
$9,000 4% coupon improvement bonds.
berger, Clerk, for
$40,000 light bonds. Vote
$1,000.
Authority, Section 3994, Revised Statutes. Denomination Bank of
-On Aug. 26
-Bond Sale.
Cohoes, Albany County, N. Y.
semi-annually
Date Aug. 30 1909. Interest Certified check at the First Nationalfor, payfor 5% of bonds bid
water-supply bonds, described in
Bellaire. Maturity 7 years.
required. Delivery of bonds within five days from the $75,000 4% registered
able to the Board, Is
V. 89, p. 425, were awarded to the Cohoes Savings Instituthe time of award.
on Nov. 1 as
Bellefontaine School District (P. 0. Bellefontaine), Logan tion at par and accrued interest. Maturity and 1919 and
-Bond Sale.
-We are informed that an issue follows: $5,000 in each of the years 1915, 1917 to 1927 inCounty, Ohio.
1922 and 1924
ciusi 00
0
of $4,000 4% school bonds, proposals for which were adver- $10,ve. in each of.the years 1921,
tised for until Sept. 1, has been sold to the Sinking Fund
Columbia Special School District No. 2 (P. 0. Columbia
Trustees.
-Bond Offering.-Proposals
Denomination $500. Date Sept. 1 1909. Interest semi-annual. Ma- Station), Lorain County, Ohio.
from March 1 1916 to Sept. 1 1919, Inclusive.
turity $500 each six months
will be received until 12 m. Sept. 1 by W. E. Roth, Clerk
- of the Board of Education, for $4,500 4%% coupon school-Bonds Defeated.
Benton Harbor, Berrien County, Mich.
The voters of this city on Aug. 16 defeated the question of building bonds.
Authority, Section 3992, Revised Statutes. Denomination $225, except
issuing $37,000 street and sewer bonds.
one bond for $450. Date "day of sale." Interest on March 1 and Sept. 1
$225
Independent School District(P.O. Davenport), at the National Bank of Elyria. Maturity 3450 on Sept. 1 1911 and 10%
Bettendorf
1929 inclusive. Certified check for
yearly on Sept.
-The $8,500 4%% 5-10- of the bonds bid 1 from 1912 to the District Treasurer, is required. Pur-Bond Sale.
Scott County, Iowa.
for, payable to
year (optional) school-building bonds offered on July 15 chaser to pay accrued interest. Total debt, this issue.
-The proposition to issue
(V. 89, p. 116) were bought by Geo. M. Bechtel & Co. of
Columbus, Ga.-Bonds Defeated.
Davenport at 101. Date Aug. 2 1909. Interest semi-annual. the $75,000 4
30-year gold coupon hospital-construction
-A loan of $100,000 bonds mentioned in V. 88, p. 1454, was defeated at the elec-Temporary Loan.
Birmingham, Ala.
tion held Aug. 19. The vote was 52 "for" to 87 "against".
has been negotiated, it is stated, until next January.
District (P. 0. Boonville), Warrick A majority of 2-3 of the registered voters was necessary to
Booneville School
-The two issues of 4% school- carry.
-Bond Sale.
County, Ind.
-ArrangeCrandon, Forest County, Wis.-Bond Sale.
building and sidewalk bonds were sold on August 21 as
ments have been made for the sale of $28,000 water and
follows:
15,000 bonds awarded to the Fletcher National Bank of Indianapolis at light bonds.
100.44.
-Bond Sale.
Crawford County (P. 0. Bucyrus), Ohio.
10,750 bonds awarded to Miller, Adams'ec Co. of Indianapolis for $10,828,
According to reports, the Bucyrus City Bank of Bucyrus,
the price thus being 100.725.
Maturity part each six months beginning Feb. 7 1916.
offering 100.22, was the successful bidder on Aug. 26 for the
-The Merchants' Bank & $15,000 43% 2
-3-year (serial) funding bonds, a description
Brandon, Miss.
-Bond Sale.
Trust Co. of Jackson purchased $5,000 6% 10-20-year of which was given in V. 89, p. 486.
(optional) street and sidewalk bonds on August 20, it is
-The
Crofton Knox County, Neb.-New Bond Election.
reported, at 101 and accrued interest. Interest January question of issuing the $5,000 5% 5
-20-year (optional) elecand July. Total debt this issue.
tric-light bonds which was favorably voted upon July 2
-The (V. 89, p. 178) will be re-submitted to a vote of the people
-Bonds Voted.
Breckenridge, Wilkin County, Minn.
election held Aug. 24 (V. 89, p. 299) resulted in favor of the on Sept. 20. We have not yet been advised as to the reason
issuance of the following 5% bonds:
for holding the new election.
-Bonds Authorized.
135.000 water and light bonds. Vote 139 "for" to 50 "against." "for"
Dallas County (P. 0. Dallas), Tex.
5,000 permanent improvement revolving fund bonds. Vote 133
The Commissioners' Court on Aug. 20 passed ordinances proto 53 "against"
-Pro- viding for the issuance of the $600,000 viaduct, the $175,000
-Bond Offering.
Brewer, PepobScot County, Me.
road 4% coupon bonds voted (V.89,
posals will be received until 10 a. in. Sept. 1 by C. M. Coch- bridge and the $100,000
p. 425) on Aug. 3.
ran, City Treasurer, for $30,000 4% coupon funding bonds.
will be dated Nov. 10 1909, while the latter
The former issue
Date
Authority chapter 65. Laws of 1887. Denomination $1,000.1 1929. two issues will be dated Sept. 10 1909. Interest April 10 at the
Maturity Sept.
office in Dallas or the State Treasurer's office in Austin.
Sept. 1 1909. Interest semi-annually in Boston. for
5%, pyaable to the County Treasurer's
from all taxes. Certified check
Bonds are exempt
Denomination $1,000. Maturity 40 years, subject to call after 10 years.
City Treasurer, Is required. Bonded debt, including this issue, $94,000.
-Bond Offering.
Dallas Township, Crawford County, Ohio.
Floating debt, $7,281 03. Assessed valuation 1909, $2,237,920.
31 by G. L.
Canton,Ohio.-Bond Sale.-,Dispatches state that Hayden, -Proposals will be received until 12 m. Aug. 5, Bucyrus,
Miller &Co: of Cleveland have bought $76,000 4% Shemer, Township Clerk (P. 0. R. F. D. No.
0
0.), for $5,000 4%7 road-improvement bonds.
1-5-year bonds for $76,590-the price thus being 100.776.




THE CHRONICLE

550

Denomination $500. Interest semi-annual. Maturity $1,000 yearly
on Sept. 1 from 1921 to 1925 inclusive. Certified check for $100, payable
to the Township Treasurer, is required. Purchaser to pay accrued interest.
Bonded debt, not including this issue, $11,000. Assessed valuation 1908,
$531,100.

Danville, Va.-Bond Election.
-The City Council has
called an election for Sept. 28 to ascertain whether or not
the voters are in favor of a proposition to issue $100.000 4%
30-year bonds, the proceeds of which will be used for the
following purposes: $65,000 to improve West Main Street;
$25,000 to rebuild or improve the Union Street Bridge,
and $10,000 to improve Worsham Street and the sidewalks in
the Fifth and Sixth wards.
Bonds Authorized.
-An ordinance has been passed by the
City Council providing for the issuance of $10,000 5% 3
-year
registered West Main Street sewer-system-extension bonds.
Denomination $1,000. Date Sept. 1 1909.
Bonds are exempt from all municipal taxes.

Interest semi-annual.

Darke County (P. 0. Greenville), Ohio.
-Bond Sale.
-On
Aug. 21 the $103,000 ditch and the $54,000 road-improvement 43/2% bonds described in V. 89, p. 425, were awarded
to Hayden, Miller & Co. of Cleveland at 100.807 and 101.136
respectively. Purchasers to pay accrued interest. The
following bids were received:
Hayden, Miller & Co., Cleveland
Well, Roth & Co., Cincinnati
Farmers' National Bank.1
Second National Bank, Greenville
j
Seasongood & Mayer, Cincinnati
Fifth-Third Natf mat Bank, Cincinnati

$103,000
bonds.
$103,832 00
103,734 60

$54,000
bonds.
$51,614 00
51,601 85

103,685 20
103,612 00

51,552 25
54,531 00
54,525 00

Part of each issue matures yearly on Aug. 21 from 1910
to 1914 inclusive.
-Bond Offering.-ProEl Dorado, Union County, Ark.
posals will be received until 4 p. m. Oct. 2 by C. P. McHenry,
Secretary of Board of Improvement, for $30,000 6% Sewer
District No. 1 bonds.
Authority, Chapter 115, Sections 5,664 to 5,742, Kirby's Digest Statutes
of 1904. Denomination to suit purchaser. Date about Dec. 1 1909.
Interest annually or semi-annually, payable at any place the purchaser may
desire. Maturity $500 in the first year, $1,000 yearly for the next four
years, $1,500 yearly for the next six years, $2,000 yearly for the next five
years and $2,500 yearly thereafter. No bon led debt at present. Floating
debt, $2,000. Assessed valuation 1909, $650,001.

Elgin Township Union School District No.43(P.0.Elgin),
Kane County, Ill.-Bond Offering.-Proposals will be received until 3 p. m. Sept. 2 by H. L. Given, Township Treasurer, for $115,000 4% school bonds.

[VOL. Lxxxix

H. Craig Richardson, City Attorney, for $25,000 coupon
water and light system bonds at not exceeding 5% interest.
Authority, vote of 146 to 43 at election held June 8 1909. Denomination
81,000. Date Oct. 1 1909. Interest semi-annually at the office of the
Town Treasurer. Maturity "not legs than 20 years and not more than 50
years from date." The validity of the bonds has been passed upon by the
City Attorney. It is officially stated that the torn has never made default
in the payment of any of its obliTations; also that no litiTo.tion has been
threatened or is pending affecting tills issue of bonds. Certified check for
2% of the bonds bid far, payable to the to sn,is required. Accrued interest,
if any, to be paid by purchaser. The town has no debt at present. Assessed valuation 3395.247.

Fort Worth, Tex.
-Bonds Voted.
-The proposition to
issue the $650,000 20-40-year (optional) water-works and
street-improvement bonds at not exceeding 43/2% interest
(V. 89, p. 426) carried by a vote of 612 to 111 at the election
held Aug. 19. They will be placed on the market in about
90 days.
Fulton County (P. 0. Wauseon), Ohio.
-Bids.
-Following is a list of the bids received on July 12 for the five issues
of 432% road-improvement bonds aggregating $77,200,
awarded on that day to the Ohio Savings Bank & Trust Co.
of Toledo at 101.07 (V. 89, p. 179):
$25,000
bonds,
Ohio Savings Bank & Trust
Co., Toledo
825,276 65
Davies Sr Bertram Co. Gin. 25,276 00
Well, Roth & Co., CinCin___ 25,262 51
First Nat. Bk., Wauseon_ __ 25,250 00
C. E. Denison & Co., Clev__ 25,243 75
New First Nat. Bk., Colum_ 25,231 00
Hayden, Miller & Co., Clev_ 25,220 00
First National Bk.,
_ 25,203 00
Citizens' Safe Deposit &
Clev_Trust Co., Toledo
25,202 25
Barto, Scott & Co., Colum_ 25,201 00
Western-German Bk.,Cin__ 25,196 50
Otis & Hough,Cleveland..._ 25,189 00
Seasongood & Mayer, Ctn.- 25,180 00
Field, Longstreth & Co.,Ctn. 25,152 50
Hoehier & Cummings,Tel__ 25,152 50

$23,000
bonds.

$18,000
bonds.

$8,400
bonds.

$2,800
bonds.

$23;243 80 $18,190 80 $8,484 88 $2,830 80
23,241 50
23,187 00
23,209 75
23,002 00
23,202 00
23,187 00

18,189 00
18,146 00
18,164 00
18,072 00
18,158 00
18,147 00

8,434-00 2;812 00
8,442 00 2,808 40
8,466 00 2,822 00
8,456 00 2,826 00

23,115 00 18,097 00 8,428 00 2,803 23
23,092 00 18,108 00
23,175 00
23,105 00
23,140 30
23,112 50

18,137 00
18,082 80 8,421 84 2,810 64
18,109 80 8,442 00 2,819 88
18,102 50 8,432 50 2,807 50

The bonds answer the following description:
$18,000 Road No. 35 bonds. Denomination $450. Maturity $1,800 eact
six months from Jan. 1 1911 to July 1 1915, inclusive.
23,000 Road No. 61 bonds. Denomination $460. Maturity $2,300 each
six months from Jan. 1 1911 to July 1 1915 inclusive.
25,000 Road No. 55 bonds. Denomination $500. Maturity 82,500 each
six months from Jan. 11011 to July 1 1915 Inclusive.
2,800 Road No. 52 bonds. Denomination $560. Maturity $560 yearly
on July 1 from 1911 to 1915 inclusive.
8,400 Road No. 80 bonds. Denominations $560. Maturity $1,680 on
Jan. 1 from 1911 to 1915 inclusive.
Date July 1 1909. Interest semi-annually at the County Treasurer's
office.

Gallup, McKinley County, New Mex.-Bond Sale.
-On
Aug. 18 the $20,000 6% 20-30-year (optional) gold water,
sewer and street-improvement bonds described in V. 89, p.
426, were sold to Beasley & Wells at 102.125 and accrued
interest.
Neb.-Bond Offering.
Elkhorn, Douglas County,
-The
Gardner, Worcester County, Mass.
-Note Offering.
State Bank of Elkhorn is offering for sale the $10,000 5% Proposals will be
received until 6 p. m. Sept. 7 by John D.
last month.
registered water-works bonds voted (V.89, p. 59)
Edgell, Town Treasurer, for $8,000 4% notes.
Date July 1 1909. Interest annually at the

Interest Jan. 1 and July 1 at the Township Treasurer's office in Elgin.
Maturity $15.000 yearly from 1910 to 1922, inclusive, and $10,000 In 1923.
Certified check for $500, payable to H. L. Given, Treasurer, is required.
The bonds will be delivered at any bank in Elgin betwet a Oct. 1 1909 and
,
Sept. 1 1910, in amounts not to exceed $30,000 in any one month, at option of the School Board

Denomination 8200.
flsca
agency in New York City. Maturity July 1 1929, subject to call after
July 1 1914. Total debt, this issue. Assessed valuation, $64,551.

-Debentures Voted.
Ellis County (P.0. Waxahachie), Tex.
-A proposition to issue $250,000 5% 10-40-year (optional)
macadam-road-construction bonds carried by a vote of
1,038 to 253 at an election held July 31. They will be placed
on the market about Oct. 1.
-Bond Sale.
Essex County (P. 0. Newark), N. J.
-The
-year gold coupon park bonds described in
$50,000 4% 40
V. 89, p. 426, were sold on August 25 to J. S. Rippel of
-a basis of about
Newark at 102.599 and accrued interest
3.873%. A bid of 102.1456 was also received from N. W.
Halsey & Co. of New York City.
Euclid School District (P. 0. Euclid), Cuyahoga County,
-On Aug. 11 the $2,500 432% coupon
-Bond Sale.
Ohio.
Lake Road school-improvement bonds described in V. 89,
p. 363, were awarded to J. Bautngartner of Chatham at
101.60 and accrued interest. The bids were as follows:
J. Baumgartner, Chatham___$2,5401Hayden, Miller & Co., Cleve_$2,540
Rogers & Son, Chagrin Falls_ 2,527 First Nat. Bank, Cleveland__ 2,519
Maturity $500 yearly on Oct. 1 from 1911 to 1915 Inclusive.

Denomination $1,000. Date August 2 1909. Interegt semi-annually
at the National Shawmut Bank in Boston. Maturity $1,000 yearly on
August 2 from 1910 to 1917 inclusive.

Garza Independent School District (P. 0. Garza), Denton
County, Tex.
-An issue of $4,000 5%
-Bonds Registered.
10-40-year (optional) school-house bonds was registered by
the State Comptroller on Aug. 21.
Gilmer, Upshur County, Tex.
-Bonds Voted.
-It is reported that a proposition to issue $9,000 auditorium bonds
carried by a vote of 101 to 38 at an election held Aug. 14.
Glendale, Lincoln County, Cal.
-Bond Election.
-An election will be held Sept. 13, it is reported, to allow the voters
determine whether or not $15,000 Union High School
to
completion bonds shall be issued.
-Bond Sale.
Groveport, Franklin County, Ohio.
-The
People's Bank Co. of Canal Winchester bought $4,000 41 %
A
street-improvement bonds on July 14 at 103.57.
Denomination 3500.
Sept. 1 1919.

Date July 1 1909.

Interest Sept. 1.

Maturity

-Bond Sale.
-Hamblen County(P.0. Morristown),Tenn.
On August 23 the $200,000 5% 30-year coupon turnpike
-This city has bonds described in V. 89, p. 426, were awarded to the
Fairfield, Clay County, Neb.-Bond Sale.
sold the water-works and electric-light-plant bonds voted Bumpus-Stevens Co. of Detroit at 106.50 and accrued
interest. The bids were as follows:
(V. 89, p. 179) on June 30.
Bumpus-Stevens Co. Detr.$213,000 Well.Roth & Co., Cinoinnati$206,900
Fairfield County (P. 0. Bridgeport), Conn.
-Bond Offer- Harris Tr.
ecSav.Bk., Chic_ _ 210,608 S. A. Kean & Co. Chicago_ 204,500
'
ing.
-Proposals will be received until 12 m. Sept. 8 by the Prov.Sav.B1c.&Tr.Co., Cln. 208,010 John Nuveen & CO., Chicago 201,560
A. B. Leach & Co.. Chicago 207,120
Board of County Commissioners, Whitman J. Mead, Simeon
Hamilton County (P. 0. Chattanooga), Tenn.
-Bond
Pease and John Brophy, for $145,000 4% gold coupon (with Sale.
-On August 24 the $100,000 20-year bridge and the
privilege of registration) bonds,to pay off all the outstanding $50,000 30-year Rossville Boulevard 4M% coupon bonds
described in V. 89, p. 426, were sold to
indebtedness of the county.
Authority, a resolution of the General Assembly approved June 29 1909. Mayer of Cincinnati at 102.605 and 103.462 respectively.
Denomination $1,000. Date Oct. 1 1909. Interest semi-annual. Matur- Purchaser to pay accrued interest. Following are the $50do00
bi , s:
subject to
Certilled check for 2%
ty Oct. 1 1939,
of bid Is required.

call after Oct. 1 1929.
Bonds will be delivered Oct. 1 1909.

The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Fall River, Mass.
-Bonds Not to Be Re-offered at Present.
The City Auditor writes us under date of Aug. 20 that he
believes that the two issues of bonds aggregating $140,000,
offered without success on July 14 (V. 89, p. 179), will not
be placed on the market again in the near future.
-Bonds Voted.
Fisher County (P. 0. Roby), Tex.
This county has voted, it is reported, to issue $65,000
court-house bonds.
Forest City, Rutherford County, No. Caro.
-Bond Offering.
-Proposals will be received until 8 p. m. Aug. 31 by




Seasongood & Mayer, Cincinnati
Well, Roth & Co., Cincinnati
Woodin, McNear & Moore, Chicago
Chattanooga Savings Bank, Chattanooga
First National Bank, Chattanooga
N. w. Halsey & Co., Chicago
A. B. Leach & Co., Chicago
Hamilton National Bank, Chattanooga

$100,000
bonds.Seasong(md
ond:
b.
$102,605
851,731
101,760
51,050
101,360
50,855
101,350$153,772 50.875
1_ 11,_32_11 151,665 50,836
152,310-

Hancock School District (P. 0. Hancock), Houghton
County, Mich.
-The Rudolph Kleybolte Co.
-Bond Sale.
Inc., of Chicago, bought the $20,000 4% 20-year schoolbuilding bonds offered on July 12 (V. 89, p. 60) at par and
accrued interest.
Denomination $1,000. Date July 1 1909. Interest semi-annually at
the Superior National Bank in Hancock. Total debt, including this issue.
$32,000. Assessed valuation $2,853,425.

AUG. 28 1909.]

THE CHRONICLE

551

$635,000 4% 40-year water-works bonds to Weil. Roth dc 0o. of Cincinnati.
35,000 5% 30-year street-improvement bonds to the Knoxville Banking
& Trust Co. of Knoxville.

-Bond Election.
Hernando County (P.0.Brooksville), Fla.
-It is stated that an election will be held Oct. 2 to vote
on the question of issuing $25,000 hard-road bonds.
-Bond Sale.
Highland County (P. 0. Hillsboro), Ohio.
Dispatches report that the Barnesville National Bank of
Barnesville was the purchaser of the $4,000 6% Marshall &
McCoppin's Mill Free Turnpike No. 97 bonds offered on
Aug. 25 and described in V. 89, p. 487. It is further stated
that the price paid was $4,161 50, or 104.037. Maturity
part yearly on March 1 from 1910 to 1924 inclusive.
-An issue
-Bond Sale.
Hoquiam, Chehalis County, Wash.
-19-year (serial) refunding bonds was recently
of $85,000 5% 3
bought by Edmund Seymour & Co. of New York City.

-Bonds Voted.-Local
Leonard, Fannin County, Texas.
papers state that this town has voted an issue of bonds to
sink an artesian well and put in a water-works system.
Lewiston Independent School District Na. 1 (P.0.Lewis-Pro-Bond Offering.
ton), Nez Perces County, Idaho.
posals will be received until 8 p. m. Sept. 1 by E. W. Wing,
Clerk of the Board of Directors, for $25,000 gold coupon
funding bonds at not exceeding 5% interest.

• Huntington Park School District, Los Angeles County,
-We see it reported that proposals will
-Bond Offering.
Cal.
be received until 2 p. m. Sept. 7 for $6,000 bonds.
-Pro-Bond Offering.
Hutchinson, Reno County, Kan.
posals will be received until 5 p. m. Sept. 1 by the Board of
Commissioners at the office of Ed. Metz, City Clerk, for the
$66,000 43j% registered funding bonds voted on July 26.

-Bond Sale.
Lincoln County (P. 0. Ivanhoe), Minn.
The $13,600 5% coupon drainage bonds described in V.89,
P. 488, were sold on Aug. 24 to the Union Investment Co.
of Minneapolis at 102.61 and accrued interest. Following .
are the bids:

Denomination $500. Date Aug. 2 1909. Total debt, this issue. Assessed valuation for 1908, $1,700,000; actual valuation (estimated) $3,500,000.

Authority, Chapter 91, Laws of 1909. Date July 1 1909. Denomination $500. Interest semi-annually in Topeka. Maturity 20 years. Certified check for $1,000, payable to the "City of Hutchinson," is required.
Bonds are exempt from all taxation.

-Bond
International Falls, Koochiching County, Minn.
-Proposals were asked for until 2 p. m. yesterday
Offering.
(Aug. 27) by F. B. Green, Village Recorder, for $20,000 6%
sewer-construction bonds.

Denomination $1,000. Date, day of issue. Interest semi-annual.
Maturity 20 years. The result of this offering was not known to us at the
hour of going to press. These bonds were offered without success on June 25.

-The
-Bond Sale.
James County (P. 0. Ooltewah), Tenn.
$10,000 5% 20-year coupon high-school bonds, described in
V. 89, p. 364, were sold on Aug. 23 to F. M. Stafford & Co.
of Chattanooga at 102.75-a basis of about 4.785%. The
following bids were received:
F.M.Stafford & Co.,Chattan_$10,275 Coffin & Crawford, Chicago_$10,075
S. A. Kean & Co., Chicago__ 10,175 A. J. Hood & Co., Detroit_ _ _ 10,055
10,000
C. H. Coffin, Chicago

10,101 Strauss, St. John & Co., Cin_

--•-The $18,000 5% 20-year high-Bond Sale..
Jasper, Ala.
school-building and repair bonds voted on July 12 (V. 89,
p. 179) have been disposed of at private sale to F. L. Fuller
& Co. of Cleveland.
-Bond Sale.
Jefferson County (P. 0. Steubenville), Ohio.
%
-On August 17 the $21,000 4 2 coupon Reed's Mill and
Bloomfield Free Turnpike road bonds described in V. 89,
p. 426, were'sold, it is reported, to the National Exchange
Bank of Steubenville for $21,775-the price thus being
103.69. Maturity part each six months from Sept. 1 1910
to Sept. 1 1925 inclusive.
Johnson Creek, Jefferson County, Wis.-Price Paid for
-We are informed that the $14,000 5% water-worksBonds.
system-construction bonds the award of which was mentioned
in V. 89, p. 488, were disposed of to local investors on a basis
of 43%.
Ma-

' Denomination $100. Date May 1 1909. Interest semi-annual.
turity May 1 1929, subject to call, however, part yearly after 1912.

-This
-Bond Sale.
Kaufman, Kaufman County, Tex.
15-40-year (optional) waterplace has sold the $6,000 4
works bonds described in last week's issue.
-Proposals will be re-Bond Offering.
Kaysville, Utah.
ceived until Sept. 7 for $25,000 5% 10-20-year (optional)
water-works bonds. Authority vote of 80 to 10 at election
held Aug. 3.
-The
Kearney, Buffalo County, Neb.-Bonds Defeated.
election held Aug. 17 resulted in the defeat of the proposition to issue the $150,000 water-system-purchase bonds
mentioned in V. 89, p. 241.
-The
Kenmare, Ward County, No. Dak.-Bonds Defeated.
question of issiung $7,000 bonds was voted down at an election held Aug. 6.
-Bond Sale.
Kern County (P. 0. Bakersfield), Cal.
An issue of $55,000 5% school-building bonds offered on
July 15 has been purchased by the State Board of Examiners
for $58,387-the price thus being 106.158. Interest semiannual.
-Bond Offering.
Kilmichael, Montgomery County, Miss.
Proposals will be received until Oct. 5 by Otis E. Brannon,
Clerk Board of Aldermen, for the $6,000 6% coupon schoolbuilding bonds mentioned in V. 89, p. 179.

Authority, Section 32, House Bill No. 105, Laws of 1909. Denomination, $500 or $1,000. Date Oct. 1 1909. Interest Jan. 1 and July 1 in
Lewiston. Maturity 20 years. Bonds are not taxable. Certified check
for $1,000, payable to the Clerk of the Board of Directors, is required.
Official advertisement states that there is no controversy pending or
threatened, and that the district has never defaulted in payment of principal or interest.

Union Inv. Co., MInneap_$13,955 00I Trowbridge&NiverCo.,Ch.$13,840 00
Minnesota L. & Tr.Co.,Min 13,940 00 S. A. Kean & Co., Chicago 13,681 00
Thos. J. Bolger Co., Chic_ 13,888 32 C. H. Coffin, Chicago__ 13,651 00
Maturity 5, 7 and 10 years from date.

Lincoln School District (P.0. Lincoln), Lancaster County,
-Referring to an elecNeb.-New Bond Election Proposed.
tion held last spring, at which the issuance of bonds was authorized, the Secretary of the Board of Education informs us
that, owing to the number of irregularities, it was impossible for the Board to sell the bonds. He adds, however,
that it is very likely that the bonds will again be voted upon
sotne time this fall.
-The elecLong Beach, Cal.
-Bond Election Postponed.
tion which was to have taken place July 15 to vote on the
question of issuing the $245,000 4% municipal-waterfrontage bonds mentioned in V. 89, p. 61, was postponed until Sept. 3.
Los Angeles City School 'District, Los Angeles County,
-Bond Offering.-Proposals will be received unitl 2 p. m.
Cal.
Sept. 13, according to reports, for the $240,000 bonds mentioned in last week's issue.
Los Angeles High School District, Cal.-Bond Offering.
Papers state that proposals will be received until 2 p. m.
Sept. 13 for the $480,000 bonds, mention of which was made
in V. 89, p. 485.
-Bond Sale.
-The sucLos Banos, Merced County, Cal.
cessful and only bid received on Aug. 18 for the $30,000 5%
1-30-year (serial) gold coupon sewer-system bonds described
in V.89, p. 364, was one of 105 and accrued interest submitted
by James H. Adams & Co. of Los Angeles. This is on an
interest basis of about 4.548%.
-An election
-Bonds Voted.
Lucas, Russell County, Kan.
held Aug. 19 resulted in a vote of 95 "for" to 30 "against"
the question of issuing $30,000 water-and-light-system-construction bonds.
-It is
-Bond Sale.
McKeesport, Allegheny County, Pa.
-30-year improvement
reported that the $85,000 4% 5
bonds described in V. 89, p. 303, were awarded on August 24
to J. S. & W. S. Kuhn of Pittsburgh.
Madison School District (P. 0. Madison), Morris County,
-On Aug. 21 the $58,000 4% coupon
-Bond Sale.
N. J.
school-building bonds described in V. 89, p. 488, were
-3
awarded to John R. Douglass Jr. of Matamoras, 1 ., at
100.25 and accrued interest. One other bid for four bonds
at par was received. Maturity $2,000 yearly from 1919 to
1947 inclusive.
-ProMercer County(P.O. Celina), Ohio.-Bond Offering.
posals will be received until 10 a. m. Aug. 28 (to-day) by
T. A. Weis, County Auditor, for the following coupon pikeimprovement bonds:

$6,500 4% Sutter Road bonds. Maturity on Sept. 15 as follows: $1,000
in each of the years 1910 and 1911 and $1,500 in each of the
years 1912, 1913 and 1914.
4,000 4% Myers Road bonds. Maturity $500 yearly on Sept. 15 from
1912 to 1919 inclusive.
6,000 4% Kester Road bonds. Maturity on Sept. 15 as follows: $500
yearly from 1910 to 1917 inclusive and $1,000 in each of the
Ao9all
•4%
bonds.and1919
Wilson
7,000Maturity on Sept. 15 as follows: $300
yearly from 1910 to 1915 inclusive, and $1,000 yearly from
1916 to 1919 inclusive.
2,500 43% Schmitz Road bonds. Maturity $500 yearly on Sept. 15
from 1910 to 1914 inclusive.
Denomination $200. Date Oct. 1 1909. Interest semi-annual. Ma7,500 4% Geo. Frysinger Road bonds. Maturity on Sept. 15 as follows:
turity 20 years, subject to call after 5 years.
$500 yearly from 1910 to 1914 inclusive and $1,000 yearly
from
-An issue of $50,000 4% 5,000 4% Harruff 1915 to 1919 inclusive. $500 yearly on Sept. 15 from
Kingston, N. Y.
-Bond Sale.
Road bonds. Maturity
1910 to 1919 inclusive.
street bonds was disposed of on Aug. 26 at an average price
11,000 4% Bergman Road bonds. Maturity on Sept. 15 as follows: $1,000
of 100.50.
yearly from 1910 to 1917 inclusive and $1,500 in each of the
years 1918 and 1919.
-Bond OfferKnox County (P. 0. Mount Vernon), Ohio.
7,500 4% Mescher Road bonds. Maturity on Sept. 15 as follows: $500
'm. Sept. 18 by
yearly from 1910 to 1914 inclusive and $1,000 yearly from
ing.-Proposals will be received until 10 a.
1915
C. A. Mitchell, County Auditor, for $20,000 5% coupon 17,000 4% Palmer to 1919 inclusive.
,
Road bonds. Maturity on Sept. 15 88 follows: $1,500
bridge fund bonds.
yearly from 1910 to 1915 inclusive and $2,000 yearly from
871, Revised Statutes. Denomination $1,000,
1916 to 1919. inclusive.
Authority, Section
Interest on March 1 and Sept. 1 at the County Treasurer's office. Ma- 10,500 4% Roebuck Road bonds. Maturity on Sept. 15 as follows: $1,000
yearly from 1910 to 1918 Inclusive and $1,500 In 1919.
turity $4,000 yearly on Sept. 1 from 1911 to 1915 inclusive.
Interest semi-annually at
Denomination $500. Date
-On Aug.25 the $12,000 5% bridge bonds de- the County Treasurer's office. Sept. 15 1900.$100 in cash must be made
Bond Sale.
A. deposit of
scribed in V. 89, p. 364, were awarded to the New Knox with the County Auditor with bids for each issue. Bonds are exempt
National Bank of Mt. Vernon for $12,275-the price thus from taxes.

-Pro-Bond Offering.
Middletown, Butler County, Ohio.
being 102.291. Maturity $3,000 yearly on March 1 from
posals will be received until 12 m. Aug. 30 by John Kunz,
1911 to 1914 inclusive.
-The two issues of bonds City Auditor, for $18,165 434% coupon Fourth Street and
-Bond Sale.
Knoxville, Tenn.
Middle Alley paving (city's portion) bonds.
offered on Aug. 19 were awarded, it is stated, as follows:




552

THE CHRONICLE

[VOL. Lxxxix.

Authority Section 2835, Revised Statutes. Denominations: 30 bonds of
$500 each and 10 bonds of $316 50. Date Aug. 1 1909. Interest semiannually at the National Park Bank in New York City. Maturity $1,816 50
yearly on Aug. 1 from 1911 to 1920 inclusive. Bonds are tax-exempt and
will be delivered within 10 days from the time of award. Certified check for
$100, payable to the City Treasurer, is required. Purchaser to pay accrued
interest.

was mentioned in V. 89, p. 490. The price paid was par.
Denomination $500. Date July 1 1909. Interest semiannual.
Palo Alto, Santa Clara County, Cal.
-Bond Offering.
Proposals will be received until 5 p. m. Sept. 13 by A. G.
Minot, Ward County, No. Dak.-Bond Sale.
-Arrange- Walker, City Clerk, for $14,000 5% 1-40-year (serial) imments have been made with the State of North Dakota for provement bonds.
the sale of $50,000 20-year coupon refunding bonds as 4s.
Authority, election held May 22 1909. Denomination $350. Interest

Denomination $1,000. Date Sept. 1 1909. Interestls payable in Minot.
The bonds were offered as 5s on July 26, the bids received being rejected.

Monroe School District, Fresno County, Cal.
-Bond Sale.
-According to reports,$7,000 6% bonds have been bought
by James H. Adams & Co. of Los Angeles for $7,445 50
the price thus being 106.364.
Montara School District, San Mateo County, Cal.
-Bond
-An issue of $16,000 6% bonds has been awarded, it is
Sale.
stated, to James H. Adams & Co. of San Francisco at 118.75
and accrued interest.
Montrose County (P.0. Montrose), Colo.
-Bonds Voted.
Local papers state that a recent election resulted in favor
of a proposition to issue $25,000 high-school-improvement
bonds.
Morrow County (P. 0. Mount Gilead), Ohio.
-Bond
Offering.
-Proposals will be received until 11 a. m. Sept. 3
by W. C. McFarland, County Auditor, for the following
4M% coupon road-improvement bonds.
$10,636 91 Cardington Road No. 2 (township's share) bonds. Denomination $540, except one bond for $378 91. Maturity $540 each
six months from March 1 1910 to March 1 1919 Inclusive and
$376 91 on Sept. 1 1919.
4,392 00 Cardington Road (assessment ) bonds. Denomination $220
except ono bond for $212. Maturity $220 each six months
from March 1 1910 to March 1 1919 inclusive and *212 on
September 1 1919.
6,226 11 Marengo Road (township's share) bonds. Denomination $320,
except one bond for *146 11. Maturity $320 each six months
from March 1 1910 to March 1 1919 inclusive and $146 11 on
Sept. 1 1919.
4,680 10 Marengo Road (assessment) bonds. Denomination $240,
except one bond for $120 10. Maturity 4240 each six months
Irons March 1 1910 to March 1 1919 inclusive and $120 10 on
September 1 1919.
8,947 69 Gilead Road (township's share) bonds. Denomination $460,
except one bondfor $207 69. Maturity $460 each six months
from March 1 1910 to March 1 1919 inclusive and $207 69 on
September 1 1919.
2,123 85 Gilead Road (assessment) bonds. Denomination $100, except
one bond for *223 85. Maturity $100 each six months from
March 1 1910 to March 1 1919 inclusive and $223 85 on Sept. 1
1919.
9,611 50 Boundary Road (township's share) bonds. Denomination
$480, except one bond for $491 50. Maturity $480 each six
months from March 1 1910 to March 1 1919 inclusive and $491 50
on September 1 1919.
7,340 50 Boundary Road (assessment) bonds. Denomination $380,
except one bond for $120 50. Maturity $380 each six months
from March 1 1910 to March 1 1919 inclusive and *120 50 on
September 11919.
Authority Sections 4670-19, Chapter 2, Title 7, part 2, Revised Statutes.
Date September 1 1909. Interest semi-annual. Certified check on a
bank in Morrow County for 10% of amount of bonds bid for, payable to
the County Auditor, is required. Separate bids must be made for the
township's share bonds and the assessment bonds. Official advertisement
states that there is no litigation or controversy pending or threatened,
affecting the validity of these bonds, and that the county has never defaulted in payment of principal or interest.

Mt. Healthy, Hamilton County, Ohio.
-Bond Sale.
-According to dispatches, the $33,000 4% 25-year coupon waterworks bonds described in V. 89, p. 489, were disposed of on
Aug. 23 to Well, Roth & Co. of Cincinnati for $33,126 85
the price thus being 100.384.
Mt. Morris, Livingston County, N. Y.
-Bond Sale.
-The
$46,000 5
-27-year (serial) coupon water-works bonds described in V. 89, p. 489, were sold on Aug. 24, it is reported,
to the Rochester Savings Bank of Rochester as 4.15s.
Napa, Napa County, Cal.
-Bonds Voted.
-The voters on
Aug. 16 authorized the issuance of $15,000 concrete-bridgeconstruction bonds.
Natchez, Miss.
-Bond Offering.
-Proposals will be received until 5 p. m.Sept. 15 by the City Clerk for the following 5% coupon bonds, mention of which was made in V. 89,
p. 365: $20,000 to retire outstanding warrants and $27,500
to retire improvement bonds.
Denomination $500. Date Sept. 15 1909. Interest annual. Maturity
Sept. 15 1929. Certified check for $100 is required. W. G. Benbrook is
Mayor.

The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Navarro County Common School District, Tex.
-Bonds
Registered.
-On Aug. 18 the State Comptroller registered
$16,000 5% 15-30-year (optional) school-house bonds.
Niles, Ohio.
-Bond Sale.-Seasongood & Mayer of Cincinnati was recently awarded $5,000 5% 6-10-year (serial)
water bonds, it is stated, at 105.64-a basis of about 4.165%.
North Attleborough, Bristol County, Mass.
-Bond Sale.
It is reported that R. L. Day & Co. of Boston, offering
102.099, was the successful bidder on Aug.24 for the five
issues of 4% coupon bonds aggregating $38,500, described in
V. 89, p. 489.
Oak Harbor, Ohio.
-Bond Sale.
-The Colonial Bank of
Fremont is reported as having purchased $4,500 5% 1-5-year
(serial) paving bonds at 102-a basis.of about 4.283%.
Osage County (P. 0. Pawhuska), Okla.
-Bonds Defeated.
-Propositions to issue $450,000 court-house, jail and bridge
bonds were voted down at an election held Aug. 17.
Ozark, Christian County, Mo.-Purchaser of Bonds.
-We
are informed that the Merchants-Laclede National Bank of
St. Louis was the purchaser of the $3,500 5% 10-20-year
(optional) general-improvement bonds, the sale of which




semi-annual.
is required.

Draft for amount of premium offered, with accrued interest,

Parker, Randolph County, Ind.
-Bond Sale.
-It is reported that $30,500 43% 20-year school-building bonds
have been awarded to J. F. Wild & Co. of Indianapolis for
$31,977, the price thus being 104.842.
Paterson, N. (T.
-Bond Sale.
-We are informed that the
$85,000 4% 10-year coupon (with privilege of registration)
street-improvement bonds awarded on July 1 to W. N. Coler
& Co. of New York City, but subsequently refused by them,
(V. 89, p. 180) will be purchased by the Sinking Fund.
Pawtucket, R. I.
-Temporary Loan.
-This city has borrowed $120,000 from the Citizens' Savings Bank of Providence at 3.625% discount. Maturity $27,000 Oct. 20 1909
and $93,000 in four months.
Paxville School District (P. 0. Paxville), Clarendon
County, So. Caro.
-No Action Yet Taken.
-No action has
yet been taken looking towards the issuance of the $10,000
20-year building bonds voted (V.89, p. 180) on June 29.
Payette, Canyon County, Idaho.
-Bond Election Proposed.
-This city proposes to hold an election to vote on the question of issuing $18,000 10-20-year (optional) coupon water
bonds at not exceeding 6% interest. Denomination $1,000,
$500 and $100. Interest Jan. 1 and July 1 in Payette or
New York City.
Perinton School District No. 2, Monroe County, N. Y.
Bond Offering.
-Proposals will be received until 1 p. m.
Sept. 1 by D. A. Pyatt, District Clerk (P. 0. Fairport), for
$2,500 school bonds at not exceeding 5% interest.
Denomination $500. Interest annually beginning Nov. 1 1910 at D.
Becker's Bank in Fairport. Maturity $500 yearly on Nov. 1 from 1910 C.
to
1914 inclusive. Certified check for $200, payable to Henry Dryer, Collector,
Is required. No debt at present. Assessed valuation *217,115.

Piqua, Miami County, Ohio.
-Bond Offering.
-Proposals
will be received until 12 m. September 2 by John F. Raynor,
City Auditor, for $50,000 4% coupon refunding bonds.
Authority Ordinance passed July 19, also Section 2701 Revised Statutes.
Denomination $500. Date Sept. 1 1909. Interest semi-annually at the
Importers & Traders' National Bank in New York City. Maturity
twenty years. Bonds are exempt from taxation. Certified check for
2% of amount of bonds bid for, payable to Geo. H. Rundel, City Treasurer,
Is required. Purchaser to pay accrued interest.

Pittston, Luzeme County, Pa.
-Bond Offering.-Proposals will be received until 8 p. m. Sept. 9 by Thos. English Jr., City Clerk, for 1100,000 43% improvement bonds.
Denomination $500. Date Sept. 1 1909. Interest semi-annually at
the City Treasurer's office. Maturity on Sept. 1 as follows: $12,500 in
1913 and $3,500 yearly from 1914 to 1938 inclusive. Certified check for
*1,000, made payable to the City Treasurer, is required. The bonds will
be delivered $10,000 Oct. 15 1909,$10,000 Dec. 11909, $10,000 Jan. 1
*20,000 June 1 1910, $20,000 July 15 1910 and $30,000 Sept. 1 1910. 1910.

The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Portland, Me.
-Note Offering.
-Proposals will be received
until 11:30 a. m. Aug. 30 by Samuel S. Gilbert, City Treasurer, for the discount of $100,000 notes issued in anticipation
of taxes. Denomination to suit purchaser. Date, day of
issuance. Maturity Oct. 1 1909.
Bond Offering.
-In addition to the above, proposals will
also be received at the same time and place by the City
Treasurer for $245,000 4% gold coupon funding bonds.
Denomination $1,000. Date Aug. 11909. Interest semi-annual. Maturity Aug. 1 1929. The opinion of Storey, Thorndike, Palmer & Thayer
of Boston as to the legality of these bonds will be furnished upon application. Purchaser to pay accrued interest. Bonds are exempt from tax.

Portola School District, San Mateo County, Cal.
-Bond
-According to reports, James H. Adams & Co. of Los
Sale.
Angeles have purchased $4,000 6% 4 2
-year (average) bonds
at 106.45 and accrued interest
-a basis of about 4.405%.
Quanah, Hardeman County, Tex.
-Bonds Voted.
-The
question of issuing the $30,000 water-main-extension bonds
mentioned in V.89, p. 304, was favorably voted upon Aug.11.
Reading (P. 0. Cincinnati), Hamilton County, Ohio.
-On Aug. 25 the $1,029 5% 1-10-year (serial)
Bond Sale.
Voorhees Street improvement assessment bonds described in
V. 89, p• 365, were awarded, according to reports, to W. R.
Todd & Co. of Cincinnati for $1,050-the price thus being
102.04.
Redwood Sanitary District, Alameda County, Cal.-Bond
Offering.-Proposals will be received until 12 in. Aug. 30 by
the County Surveyor (P. 0. Oakland) for $36,000 5% gold
bonds,
on v.
sewer ority, s0
Authority, te of 95 "for" to 5 "against" at election held July 10.
Denomination $900. Date July 15 1909. Interest semi-annually at the
County Treasurer's office. Maturity one-twentieth each year commencing
July 15 1910. Bonds are exempt from taxation. Assessed valuation of
district, $312,700.

Reno, Nev.-Bond Sale.
-On Aug. 16 the two issues of 5%
25-year coupon street and sewer bonds aggregating $100,000,
described in V. 89, p. 366, were sold to James H. Adams &
Co. of Los Angeles at 105.25 and accrued interest
-a basis
of about 4.644%. The following bids were received:
J. H. Adams & Co., Los A_a$105,2501J. H.Causey & Co., Denvera$100,050
Prov.Sav.Bk.&Tr.Co., Tol _ 103,17015. A. Kean & Co.. Chicago_
93,500
McCoy & Co., Chicago
_a101,5501
a And accrued interest.
_-

AUG. 28 1999.1

553

THE CHRONICLE

-Bond OfferRidgefield Township, Huron County, Ohio.
ing.-Proposals will be received until 12 m. Sept. 1 by
C. L. Powley, Township Clerk (P. 0. Monroeville), for the
$15,000 5% coupon road bonds voted on June 15 (V. 88,
p. 1576).
March 1 and
Denomination $500. Date, "day of sale." Interest on
Sept. 1 at the Farmers' & Citizens' Banking Co. iniMonroeville. Maturity
$500 each six months from March 1 1911 to Sept. 1 1925 inclusive. Bonds
bonds bid for, payare exempt from taxes. Certified check for 5% of,the '
able to the Township Treasurer, is required.

-Bond
Scranton Scpool District (P. 0. Scranton), Pa.
-Proposals will be received until 7:30 p. m.Sept. 13
Offering.
by Eugene D. Fellows, Secretary, for the $250,000 4%
coupon building and improvement bonds recently authorized
(V. 89, p. 490).
Denomination $1,000. Date Sept. 1 1909. Interest semi-annuallyrat
the District Treasurer's office. The bonds mature $50,000 on Sept. Pin
each of the years 1924, 1929, 1934, 1937 and 1939, and bids are requested
for each $50,000 lot
Bonds are exempt from all taxes to the purchaser.
Certified check for 2% of the bonds is required. Successful bidder to pay
accrued interest.

Ridgway School District (P. 0. Ridgway), Elk County,
-Bond Sale Postponed.
Seneca Falls, Seneca County, N.7.
-Bond Offering.-Proposals will be received until 6 p. m.
Pa.
-28-year (serial) coupon or
Sept. 6 by George R. Dixon, Secretary, for $22,500 4% -The sale of the $240,000 5
registered water-works-construction bonds described in
coupon high-school-building bonds.
V. 89, p. 428, which was to have taken place Aug. 20, was
Authority vote of 347 to 90 at election held June 8 1009. Denomination
$500. Date Sept. 1 1909. Interest semi-annually at the District Treas- postponed.
urer's office. Maturity Sept. 1 1939, subject to call after Sept. 1 1919.
-Bond
Certified check for 2% of bid, payable to John Curry, Treasurer, is required.
Summit School District, Riverside County, Cal.
The State tax on these honds Is paid by the district. Total debt, including
-A $2,500 bond election will be held Sept. 3, acElection.
this issue, $88,500. Assessed valuation for 1009 $1,789,500.
-Pro- cording to reports.
-Bond Offering.
Ridgewood, Bergen County, N. J.
Sweetwater School District (P. 0. Sweetwater), Nolan
posals will be received until 8 p. m. Sept. 14 by J. Blauvelt
-We are informed that
-Description of Bonds.
Hopper, Village Clerk, for $29,000 5% sewer-construction County, Tex.
the $10,000 5% 10-40-year (optional) school-building bonds
bonds.
Authority. Act of Legislature approved Feb. 23 1891. DO110M111811011 voted on June 26 (V. 89, p. 181) have been approved by the
$1,000. Date Sept. 7 1909. Interest semi-annual. Maturity $3,000
further states that they
yearly on June 1 from 1911 to 1919 inclusive and $2,000 in 1920. Certified Attorney-General. Our informant
are now being printed and as soon as they are returned to the
check for 5% of the amount bid is required.
Ringgold School District (P. 0. Ringgold), Mantague district will be offered for sale. Denomination $1,000. Date
-No Bond Election at Present.
-We are advised July 10 1909. Interest semi-annual.
County,Tex.
-Local
that the election to vote on the question of issuing the
-Bonds Voted.
Sycamore, Wyandot County, Ohio.
$12,000 school bonds mentioned in V.89,P.63, will probably papers state that a proposition to issue school-building bonds
not be held before another year.
carried at a recent election by a vote of 135 "for" to 123
- "against."
Riverside, Riverside County, Cal.
-Bond Election.
According to reports,the question of issuing the following
Takoma Park (P. 0. Washington, D. C.), Montgomery
bonds will be submitted to a vote of the people on Sept. 28: County, Md.-Bond Election.
-An election will be held Sept.
$75,000 to build a new city-hall, $25,000 for a site, $10,000 13 to vote upon a proposition to issue $10,000 5% filtrationfor furnishings and $5,000 for laying pipe lines and building plant and water-meter bonds. Maturity one-tenth annually.
the reservoirs necessary for giving fire protection to the
Tamaqua School District (P. 0. Tamaqua), chuylkill
suburbs.
-An issue of $18,000 3% 5-20County,,Pa.
-Bond Sale.
Rockvale School District No. 21 (P. 0. Rockvale), Fre- year (optional) bonds has been disposed of to the people of
mont County, Colo.
-We are advised the town at par. Denominations $500 and $100. Date
-Description of Bonds.
that the $3,000 6% school-building-addition bonds disposed July 1 1909. Interest semi-annual.
of at par on Aug. 1 to local investors(V.89, p. 366) are dated
Timpson Independent School District (P. 0. Timpson),
Aug. 11909.
-The $9,000 5%
-Bonds Registered.
Shelby County, Texas.
$200. Interest semi-annual. Maturity 10 years, subDenomination
20-40-year (optional) school-building-improvement bonds
ject to call after 5 years.
Rosebud Independent School District (P. 0. Rosebud), awarded on July 1 to C. H. Coffin of Chicago at 101.122
Falls County, Tex.
-Bond Offering.-Proposals will be re- (V. 89, p. 120) were registered by the State Comptroller
ceived for the $35,000 5% 20-40-year (optional) school build- on Aug. 10.
-The City Council on
-Bonds Authorized.
Toledo, Ohio.
ing bonds registered on July 29(V. 89, p. 366).
Authority Section 154, Chapter 124, General Laws of 20th Assembly, July 20 passed an ordinance providing for the issuance of
also vote of 80 "for" to 4 "against" at an election held May 1 1909. De- $5 nds. 4% coupon street
-improvement (city's portion)
0
bo5, 00
in New York
nomination $500. Date July 1 1909. Interest semi-annually
City or Chicago. Certified check for $1,000 is required. Bonded debt
this issue. Assessed valuation, $1,109,175.

Denomination $1,000.

Date Aug. 1 1909.

Interest semi-annually at

-Pro- the United States Mortgage & Trust Co. In New York City. Maturity
St. Albans, Franklin County, Vt.-Bond Offering.
Aug. 1 1919.
posals will be received until 8 p. m. to-day (Aug. 28) by
On the same day (July 20) ordinances were passed prothe City Council for the following 4% coupon bonds:
5% coupon assess$40,000 sewer bonds. Maturity on Oct. 1 as follows: $2,000 In each of the viding for the issuance of the following
•
years 1910 and 1911, *5,000 in each of the years 1912, 1913 and ment bonds:
1914, $10,000 in each of the years 1915 and 1916 and $1,000 in
1917.
35,000 street bonds. Maturity $5,000 yearly on Oct. 1 from 1917 to 1923
Inclusive.
Denomination $1,000. Date Aug. 2 1909. Interest semi-annually at
the First National Bank of Boston. Bonds are exempt from taxation in
Vermont. The bonds will be certified as to their genuineness by the City
Trust Co. of Boston, who will further certify that the legality of the issue
has been approved by Hopes, Gray & Gorham of Boston. B. Melvin Hopkins is Town Treasurer.

$1,167 14 Sewer No. 1061 bonds. Date July 20 1909. Maturity one bond
each six months from March 2 1910 to Sept. 2 1911 inclusive.
331 92 Sewer No. 1051 bonds. Date July 2 1909. Maturity one bond
each six months from March 2 1910 to Sept. 2 1911 inclusive.
546 78 Sewer No. 1056 bonds. Date July 22 1909. Maturity one bond
each six months from March 22 1910 to Sept. 22 1911 Inclusive.
13,084 07 Chase Street No. 2 improvement bonds. Denomination $1,320,
except one bond of $1,204 07. Date April 4 1909. Maturity
one bond each six months from March 4 1910 to Sept. 4 1914
Inclusive.
333 97 Sewer No 1072 construction bonds. Denomination $90, except
one bond of $63 97. Date Aug. 3 1909. Maturity one bond
each six months from March 3 1910 to Sept. 3 1911 inclusive.
Interest semi-annually at the Northern National Bank in Toledo.

-The
St. Olairsville, Belmont County, Ohio.
-Bond Sale.
$8,500 43% coupon street-improvement bonds described in
V. 89, p. 490, were awarded on Aug. 20 to the First National
-The City
Tomah, Monroe County, Wis.-Bond Offering.
Bank of St. Clairsville at 101.776 and accrued interest.
Maturity $500 each six months from Feb. 20 1910 to Feb. 20 Clerk is offering at private sale an issue of $7,467 5% coupon
improvement bonds.
1918 inclusive.
Denomination $500. Date Aug. 1 1909. Interest annually at Warrens
St. Francis Drainage District (P. 0. Piggott), Clay and Bank in Tomah. Maturity $1,467 in Aug. 1911 and $2,000 in each of the
-We are advised years 1912, 1913 and 1914. Bonds are exempt from taxes.
-Bonds Proposed.
Greene Counties, Ark.
-Bonds Not Sold
Trinidad; Las Animas County, Colo.
that the amount of levee-construction bonds which this
-Up to Aug. 24 no award had yet been made
district proposes to issue (V.89, p. 119) aggregates $250,000. Bond Offering.
They will carry 6% interest, payable semi-annually. Denomination of the $316,000 432% 10-20-year (optional) refunding water
$1,000. Date June 11909. Maturity 20 years. The district has no debt
bonds offered on July 26 and described in V. 89, p. 244.
at present. Assessed valuation for 1909. $1.501,301.
being offered for sale at par.
San Diego County (P.0.San Diego), Cal.
-Bond Offering. They are now
-Loan Offering.-Proposals will be received
Troy, N. 7.
-According to reports, proposals will be received until
Sept. 30 for the $1,250,000 432% highway-construction until 11 a. m. Aug. 30 by Hiram W. Gordinier, City Compbonds voted (V. 89, p. 490) on Aug. 3. Maturity part troller, for $100,000 4% certificates of indebtedness or
revenue bonds dated Aug. 30 1909.
yearly from one to forty years, inclusive.
Principal and interest payable Oct. 30 1909 at the City Treasurer's office.
Sandusky, Ohio.
-The three issues of 4% Certified check for 1% of the bonds, payable to the City of Troy,lis required.
-Bond Sale.
bonds described in V. 89, p. 428, were disposed of on Purchaser to pay accrued interest.
-An
Ulysses, Butler County, Neb.-Bonds Voted and Sold.
Aug. 23 as follows:
$10,000 Jackson Avenue improvement bonds, due part yearly for 9 election held Aug. 6 resulted in favor of propositions to issue
years, sold to the Toledo Fire & Marine Insurance Co. of Sandusky at 100.31, $12,000 water and $5,000 light 5% 5-20-year (optional)
and $25,000 Decatur Street and $7,000 Adams Street improvement bonds,
due part yearly for 9 years, awarded to the Third National Exchange bonds. We are informed that the bonds have been negoBank of Sandusky at 100.284 and 100.304 respectively. Purchasers to tiated for by The National Company of South Bend, Ind.
pay accrued Interest. Following are the bids'
$7.,000
$10,000
$25,000
-Bonds Voted.
-Reports state
Union, Union County, Ore.
Bonds.
Bonds.
that a proposition to issue $25,000 municipal-lighting-plant
o
Toledo Fire (SC Marine Ins. Co., Sand_ _ 410,031 00 $25,041 00 $7, n9s5
B01d .
7,021 30 bonds was favorably voted upon Aug. 16.
Third National Exchange Bank,Sand__ 10,029 20
25,071 00
7,020 00
American Bkg. & Trust Co.. Sandusky_ 10,015 00
25,015 00
-Bond Sale.
Vinland School District, Fresno County, Cal.
All bidders offered accrued interest In addition to their bids.
-The -Reports state that $2,000 6% bonds have been sold to the
Sauk Centre, Stearns County, Minn.
-Bond Sale.
$6,000 4% 10-year coupon refunding bonds offered on July 17 American Savings Bank of Los Angeles at 103.825.
and described in V. 89, p. 181, have been awarded to the
-Bond Election.
-A
Warren, Trumbull County, Ohio.
First National Bank of Sauk City at par. The securities $250,000 water-works bond election will be held Oct. 9.
are dated July 17 1909.
-Bond Sale.
•
Warren County(P.O. Warrensburg), N.7.
-The On Aug. 20 the $25,000 5% bonds mentioned in V. 89, p.
-Bond Sale.
Saundersville, Jones County, Miss.
$5,000 20-year school bonds mentioned in V.89, p. 181, were 492,wasawarded to the First National Bank of Glens Falls.
sold on Aug. 17 to C. H. Coffin of Chicago at 101.02.
Maturity Feb. 20 1910.



THE CHRONICLE

554

Waterloo, Seneca County, N. Y.—Bond Offering.—Additional details are at hand relative to the offering on Sept. 4
of the $100,000 gold sewer bonds mentioned in V. 89, p. 492.
Proposals for these bonds will be received until 1 p. in. on
that day by John Kropf, Village President.
Authority, vote of 276 to 37 at election held Aug. 17. Date Sept. 1 1909.
Interest (rate not to exceed 5%) payable semi-annually at the Mercantile
National Bank of New York City. Maturity $3,333 33 yearly for thirty
years. Certified check for 2%, payable to the Village Treasurer, is required.

Waverly, Pike County, Ohio.—Bond Offering.—Proposals
will be received until 12 m.Sept. 1 by E. P. P. Smith, Village
Clerk, for $5,000 4% coupon electric-wire-repair bonds.
Authority Section 2835, Revised Statutes. Denomination $1,000. Date
Sept. 15 1909. Interest semi-annually at the First National Bank in Waverly. Maturity part each year on Sept. 15 from 1917 to 1921, inclusive.
Bonds are exempt from taxation. Bonded debt, including this issue, $12,000. No floating debt. Assessed valuation 1909, 5602,782.

Wellington, Lorain County, Ohio.—Bond Sale.—On Aug.
21 C. E. Denison & Co. of Cleveland purchased the $10,000
5% 2-11-year (serial) North Main Street improvement bonds
described in V. 89, p. 430, at 104.6925—a basis of about
4.169%. The following bids were received:
C. E. Denison & Co., Cley.316,469 251 W. R. Todd & Co., Mc
...510,405 00
Hayden, Miller & Co., Clev.10,458 00
Fifth-Third Nat. Bk.. Cin_ 10,453 00
Seasongooci Fc Mayer, Cin: 10,444 00
Cleveland Tr. Co., Cleve__ 10,411 00

Well, Roth & Co., Mein_
Home Say. Bk. Co., Wel'n
Hoehler F0 Cummings,Tol.
Penfield Avenue Bank—

10,402 00
10,398 00
10,387 00
10,377 50

Westerville, Franklin County, Ohio.—Bond Sale.—This
village on Aug. 25 sold the $9,000 432% Walnut Street
improvement assessment bonds described in V. 89, p. 492,
to the Bank of Somerset for $9,101 11—the price thus being
101.123. Maturity $1,000 yearly on Oct. 1 from 1911 to
1919 inclusive.
Westmont (P. 0. Johnstown), Cambria County, pa.—
Bond Sale.—On Aug. 25 the $16,000 5% street-paving bonds
were awarded to the Washington Investment Co. of Pittsburgh.

[VOL. wooux.

N. W. Halsey & Co., Chic_ _ _102.578 IR. C. Robinson & Co
101.763.
Howard K. Stokes, N. Y_ _ _ _102.19 R. M. Grant & Co., N. Y_ _ _ _101.36
O'Connor & Kahler, N. Y...101.770'Hackensack Trust Co.,Hack_101
All bidders offered accrued interest in addition to their bids. Maturity
part yearly from 1910 to 1926 inclusive.

I

Wilkes-Barre School District (P. 0. Wilkes-Barre), Luzerne County, Pa.—Bond Offering.—Proposals will be received until 12 m. Sept. 27 for $500,000 4% coupon bonds.
Denomination $1,000. Interest semi-annual. Bonds will
be ready for delivery Nov. 1. A. W. Moss is Clerk of the
Board of Education.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Winchester School District (P. 0. Winchester), Adams
County, Ohio.—Bond Sale.—The Winchester Bank of Win.chester is reported as having purchased at par on Aug. 26
the $12,000 4% 1-24-year (serial) coupon school-building
bonds described in V. 89, p. 183.
Yakima County School District No. 86, Wash.—Bond
Sale.—The State of Washington purchased the $1,850
20-year coupon school-building bonds described in V. 89,
p. 368, on Aug. 21 at par for 5s. A bid for 6s was also
received from Wm. D. Perkins & Co. of Seattle.
Yakima County School District No. 87, Wash.—Bond
Offering.—Proposals will be received until 10 a. in. Sept. 4
by Frank Bond, County Treasurer (P. 0. North Yakima),
for $6,000 coupon school-building bonds at not exceeding
6% interest.
Authority. page 357 et seq., Laws of 1897; also election held Aug. 2 1909.
Date, day of issue or the first of some month, at the option of the bidder.
Interest semi-annually at the County Treasurer's office. Maturity 20 years.
subject to call after 10 years. The district has no debt at present. Assessed and equalized valuation for 1908. 5156,755.

Yellow Springs, Greene County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. Sept. 15 (to be sold at
7:30 p. m. Sept. 17) by H. L. Hackett, Village Clerk, for
Westwood School District (P. 0. Westwood), Bergen the $6,000 5% coupon electric-light bonds voted (V. 89, p.
County, N. J.—Bond Sale.—On Aug. 24 the $23,000 5% 183) on July 3.
Denomination $100. Date Sept. 1 1909. Interest semi-annually at the
coupon school-addition bonds described in V. 89, p. 492, Miami Deposit Bank of Yellow Springs. Maturity $200 each six months
Sept. 1 1925, inclusive. Bonds are free from all
were awarded to N. W. Halsey & Co. of New York City at from March 1 1911 to for $100, payable to the Village Clerk, is required.
taxes. Certified check
102.578 and accrued interest. A list of the bidders follows: Total debt, including this issue, $15,285 06.

. Denomination ;1,000.
Authority election held Aug. 16 (V. 89, p. 245)
Date Sept. 1 1909. Interest semi-annual. Maturity 1930, subject to call
after 1924.

NEW LOANS.

NEW LOANS.

$4,700,000

CITY OF ST. LOUIS
Public Buildings and Public Improvement
4%

TWENTY-YEAR GOLD BONDS

ST. LOUIS, August 16, 1909.
By virtue of Ordinance No. 22,674, the undersigned are authorized to issue and sell for the City
of St. Louis four million seven hundred thousand dollars ($4,700,000) of St. Louis Public Buildings
and Public Improvement Bonds, and sealed proposals for the purchase of said bonds, issued for the
following purposes, and hereinafter described, will be received at the Mayor's Office in the City of
St. Louis, until 12:00 o'clock noon. of the 17th day of September. 1909, and publicly opened by the
undersigned at said place and hour:
$3,000,000 00
MUNICIPAL BRIDGE,and purchase of land for approaches
100,000 00
FIRE DEPARTMENT (Engine Houses and Lots)
600,000 00
BRIDGES AND VIADUCTS and purchase of land
1,000.000 00
PUBLIC SEWERS and purchase of land
$4,700,000 00
Total
Said bonds will be dated October 1st, 1909, and will each be of the denomination of $1,000 United
date, and will bear interest from their date
States Gold Coin, payable twenty (20) years after their
at the rate of four (4) per cent per annum. Semi-annual interest coupons, payable on the 1st day of
April and October, respectively, will be attached to each bond, and both bonds and coupons will be
payable to bearer, as he may elect, either at the National Bank of Commerce, in New York, in United
States Gold Coin, or at the National Bank of Scotland, Limited, 37 Nicholas Lane, London, England.
in pounds Sterling, at the rate of four dollars. eighty-six cents, six and one-half mills (54.8665) per
pound Sterling. The bonds will contain the condition that in payment of principal and interest,
the United States Gold Dollar and the Pound Sterling will be calculated at the present standard of
weight and fineness. The bonds may be exchanged for registered bonds at any time.
Bidders are requested to state in their proposals the price offered per bond, the par and premium
to be stated as one amount.
No bid will be considered that is not made on blank furnished by the Comptroller.
Proposals must be accompanied by a cashier's or certified check, payable to the order of the
Comptroller (and subject to his approval) equal to five (5) per cent of the nominal amount of the bonds
bid for: said deposit to be returned immediately if the proposal Is not accepted, otherwise to be retained by the City as liquidated damages In event of failure on the part of the bidder to comply with
his proposal, or, In case of compliance, to be retained as part of the purchase money. A deposit in the
required amount to the credit of the City of St. Louis, in the National Bank of Commerce, in New
York, on or before Thursday, September 16th, 1909, will be accepted as full compliance with the requirements relating to deposits. No interest will be allowed on earnest money deposited.
Proposals will be subject to all the conditions and reservations of this advertisement, and must
refer to same as a portion of the agreement on the part of the bidder.
Proposals should be enclosed and addressed to the undersigned and endorsed "Proposal for Puronase or . Louis uity
The undersigned reserve the right to reject any or all bids.
The Bonds will be delivered against payment therefor in current funds, at the office of the Comptroller in the City of St. Louis, or, if the bidder so elects in his proposal, at the National Bank of
Commerce in New York, on the 1st day of October, 1909.
The opinion of Messrs. Dillon & Hubbard, Attorneys and Counselors at Law, New York City,
as to the validity of the bonds, will be furnished the successful bidders by the City.
A sample bond can be seen and further information obtained at the office of the Comptroller.
FREDERICK H. KREISNIANN. Mayor.
B. J. TAUSSIG, Comptroller.
•
•

$500,000
CITY OF SPOKANE
25-Year 4%
Water Extension Bonds
Sealed proposals will be received by the Sinking
Fund Commission of the City of Spokane, Washington, at the office of the City Comptroller of
said city, up to 11 o'clock a. m. of the 15th day of
September. 1909, for the purchase of all or any
portion of a $500,000 bond issue of said city.
Said bonds are issued by said city for the purpose of paying off outstanding warrants issued
against the Water Extension Fund and constructing a force main to be used in the general water
system, and bear date of July 1, 1909, payable
25 years after said date, and bear interest at the
rate of 4% annually, payable semi-annually
at the fiscal agency of the State of Washington in
New York City.
Said Commission reserves the right to reject any
and all bids, and each offer must be accompanied
with a certified check for 2% of the amount of
the bid, and must be for at least par and accrued
interest.
ROBERT FAIRLEY,
City Comptroller.

New Mexico Bonds-Holders'Notice
PROVISIONAL INDEBTEDNESS BONDS
Dated September 1, 1889
Notice Is hereby given to the holders of the
following-described bonds that all of the same
have been and are hereby called for redemption
on September 1, 1909, and will be cashed and redeemed on presentation thereof at the National
Bank of Commerce, New York City, such bonds
being:
$93,000 00 6% (being all outstanding) Provisional
Indebtedness Bonds, dated September 1, 1889, due September 1.
1919, optional Spetember 1, 1909,
same being nutnbers 1 to 60 and
68 to 100 (inclusive in each case).
of $1.000 00 each.
All such bonds cease to draw interest from and
after September 1, 1909.
Dated at Santa Fe, New Mexico, July 31st.1909.
M. A. OTERO,
Treasurer of the Territory of New Mexico.
Approved:—GEORGE CURRY,
Governor of the Territory of New Mexico.

JOHN H. WATKINS Charles M. Smith 8c Co.
CORPORATION AND
MUNICIPAL
1-4. C. Speer 6c Sons CO.
MUNICIPAL BONDS
AND
First Nat. Bank Bldg.,Chicago
E-ITABIASHED 1885

CITY, COUNTY
AND SCHOOL



BONDS

RAILROAD BONDS

No. 2 WALL STREET

NEW YORK

FIRST NATIONAL BANK BUILDING
CHICAGO

555

THE CHRONICLE

AUG. 28 1909.

tures. Maturity part annually for 30 years. W. D. Brady
is Secretary-Treasurer.
-On Aug. 16 the $15,000
Alameda, Sask.-Debenture Sale.
Elgin School District No. 1895 (P. 0. Tring), Alberta.
4% debentures mentioned in V. 89, P. 306, were awarded to Debenture Sale.
-An issue of $1,700 5
10-year schoolHawkey, Somerville & Co. of Indian Heat at 90.371 and building debentures was disposed of on July 15 to Tracksell,
accrued interest. A list of the bidders follows:
Anderson & Co. for $1,714 60
-the price thus being 100.858.
H. O'Hara & Co., Toronto $12,585 00 Date July 15 1909. Interest annual.
Hawkey,Somerville &Co.,
Dominion Securities Cor$13,555 75
Indian Head
poration Ltd., Toronto_ 12,507 00
Exeter, Ont.-Debentures Voted.
Ontario Securities Co.,Tor. 13,127 00
-The election held Aug.
G. A.Stimson & Co., Tor_ 12,901 00 Nay & James, Regina____ 11,566 50 20 resulted in a vote of 185 "for" to 71 "against" the
propoMaturity part yearly for 20 years.
-This sition to issue the $22,000 (not $220,000 as at first reported)
Amaranth Township, Ont.-Debentures Authorized.
5% water-works debentures. They will be placed on the
township has passed a by-law providing for the issuance of market towards the close of this year or
the early part of next.
the $7,800 5% coupon bridge-building debentures voted
Fraserville, Que.-Debenture Offering.-Proposals will be
(V. 89, p. 493) on Aug. 14. Interest annually on Dec. 28
at the Bank of Hamilton in Orangeville. Maturity part received up to and including Sept. 1 (date changed from
yearly on Dec. 28 for fifteen years. E. Hamilton (P. 0. Aug. 15) by M. Deschenes, Secretary-Treasurer, for $80,000
40-year debentures at not exceeding 5% interest. DenomiLaurel) is Township Clerk.
-We nation $1,000. Interest semi-annual.
at Present.
Aylmer, Ont.-Debentures Not to Be Issued
Goderich, Ont.-Debenture Election.
-An election will be
are informed that the $4,000 5% 20-year bridge debentures
voted on July 8(V. 89, p. 184) will not be issued until Octo- held Sept. 11 to vote on the question of issuing $40,000 434%
ber or November.
t debentures.
-This : Hull, Ont.-Debenture Election.
-A by-law to issue $115,Champagne School District, Sask.-Debenture Sale.
district recently awarded $4,600 5 Wi% debentures to Nay & 000 debentures for civic purposes will be submitted to the
rate-payers on Aug. 30.
James of Regina. Maturity part yearly for 20 years.
-An issue of $200,000
-On Aug. 12 the $51,000 • jolliette, Que.-Debenture Sale.
Clinton, Ont.-Debenture Sale.
4% coupon water-works debentures, described in V. 89, 4% 30-year debentures has been disposed of to Hanson
p. 368, were sold to Wood, Gundy & Co. of Toronto. Ma- Bros. of Montreal.
• Lachine, Que.-Debenture Sale.
turity Dec. 1 1937.
-The Roman Catholic
0
Coteau Valley School District No. 2349 (P. 0. Dinsmore), School Commission has sold $130,000 4147 40-year debenSask.-Debenture Sale.
-This district on Aug. 7 disposed of tures to J. A. MacKay & Co. of Montreal.
Leeville School District No. 2140(P. 0. Leeville), Sask.$1,500 5% 10-year school-house debentures at par to
Hawkey, Somerville & Co. of Indian Head. Date Aug. 9 Debenture Sale.
-Nay & James of Regina have purchased
$1,500 51 1% 10-year school-building debentures for $1,502 15
/
1909. Interest annual.
-The election held -the price thus being 100.143. Denomination $150. InDunnville, Ont.-Debentures Defeated.
Aug. 19 (V. 89, p. 306) to vote upon the proposition to issue terest Dec. 12.
Legal School District No. 1738 (P. 0. Legal), Alberta.
the $7,000 4
30-year water-works debentures resulted in
Debenture Sale.
a vote of 72 "for" to 117 "against."
-On July 14 $800 53 % school-building
4
Edmonton School District No. 7 (P. 0. Edmonton), debentures were sold to Nay & James of Regina for $804 15
Alberta.
-Proposals will be received the price thus being 100.518. Date July 14 1909. Interest
-Debenture Offering.
until 12 m. Sept. 9 for $211,000 5% school-building deben- annual. Maturity part yearly on Dec. 14 for 10 years.

Canada, its Provinces

and Municipalities.

NEW LOANS.

NEW LOANS

$100,000

$145,000

County of Fairfield, Conn
4% GOLD BONDS
Proposals will be received by the Commissioners
of Fairfield County at their office in the County
Court House,at BridgerOrt, Conn., until Sept. 8th
1909 at 12:00 o'clock noon, for the purchase, in
whole or in part, of one hundred and forty-five
one thousand dollar gold bonds of said County,
to be issued under a resolution of the General Assembly of the State of Connecticut passed at its
January Session, 1909, and approved June 29th,
1909. Said bonds will be dated Oct. 1st, 1909,
bearing interest at four per cent per annum, payable April 1st and Oct. 1st of each year. Said
bonds will be payable Oct. 1st, 1939, and will be
redeemable at any time after Oct. 1st, 1929, at
the option of the County Commissioners, and will
be ready for delivery at the Connecticut National
Bank of Bridgeport Oct. 1st, 1909, when the
money for same must be paid.
All proposals must be sealed, marked proposals
for bonds, directed to the County Commissioners
of Fairfield County, and accompanied by a certified check for two per cent of the amount bid.
The purpose of this bond issue is to pay up all
the outstanding indebtedness of said County, so
that said bonds when issued will represent the
total indebtedness of said County. A sinking
fund provides for the payment of the bonds at
maturity. Bonds will have coupons attached
and may be registered.
The County Commissioners reserve the right to
reject any or all bids. For further particulars
address the County Commissioners at their office.
WHITMAN J. MEAD,
SIMEON PEASE,
•
JOHN BROPHY,
Commissioners for Fairfield County.

CITY

INVESTMENT BONDS,
60 State Street,

$500.000

OF PITTS1ON, PA., CITY OF SPOKANE
25-Year 4%
45% Improvement Bonds

Selaed proposals will be receiv(d by a Joint
Session of Councils of the City of Pittston, at the
City Hall, in the City of Pittston, Pennsylvania,
on SEPTEMBER 9, 1909, at 8 o'clock p. m. for
the purchase of $100,000 43% 4-29-year Serial
City Improvement Bonds of the City of Pittston,
Penn. Bonds to be of the denomination of
$500 each, to be dated September 1,1909, and to
be payable at the office of the City Treasurer of
said City, in numerical order, as follows: $12,500
September 1, 1913; $3,500 September 1 1914,
and each year thereafter to and including September 1, 1938. Interest payable semi-annually
on the first days of March and September at the
office of the City Treasurer. The bonds to be
sold will be delivered to the purchaser as follows:
$10,000 October 15, 1909; $10,000 December 1.
1909; $10,000 January 1, 1910; $20,000 June 1.
1910; $20,000 July 15, 1910; $30,000 September 1,
1910, and will be sold at the price bid (not less
than par) together with accrued interest to date
of delivery. Proposals to be indorsed "Proposals for Bonds" and addressed to Thomas
English Jr., City Clerk, who will furnish all
information relative to the same. Each proposal must be accompanied by a certified bank
check for $1,000 Properly indorsed and made
payable to the Treasurer of said city as a guaranty that the bonds will be taken and paid for at
the price bid. The right is reserved to accept or
reject any or all bids.
THOS. ENGLISH JR.,
City Clerk.

E COjrnST &C€.
l

BANKERS

Perry, Coffin & Burr,

NEW LOANS.

Municipal Bonds
421 CHESTNUT ST..

PHILADELPHIA, PA.

& COMPANY
McCOY MacDonald, MoCoy & Co.
Formerly

BOSTON.

Bridge Construction & Repair Bonds
Sealed proposals will be received by the Sinking
Fund Commission of the City of Spokane, Washington, at the office of the City Comptroller, of
said city, up to 11 O'clock A. M. of the 15th Day
September. 1909, for the purchase of all or any
portion of a $500,000 bond issue of said city.
Said bonds are issued by the said city to pay
for the construction and repair of bridges across
the Spokane River, and bear date of July 1, 1909.
and payable 25 years after said date, and draw
interest at the rate of 4% annually, payable semiannually at • the fiscal agency of the State of
Washington in New York City.
Said Commission reserves the right to reject
any and all bids, and each offer must be accompanied by a certified cehck for 2% of the amount
of the bid, and must be for at least par and
accrued interest.
ROBERT FAIRLEY,
City Comptroller.

Blodget, Merritt & Co.
BANKERS

STATE, CITY
AND

RAILROAD BONDS
60 State Street, - Boston
30 Pine Street, - New York

CANADIAN

and
MUNICIPAL BONDS
Corporation Bonds
MUNICIPAL AND RAILROAD 181 La Salle Street, - Chicago W. A. MACKENZIE & CO.,
TORONTO, CANADA
BONDS.
Trust
Stocks
LIST ON APPLIOATION

SEASON GOOD dz MAYER,
Mercantile Library Building
CINCINNATI




Municipal

Bank and

Company

NEW YORK AND BROOKLYN
BOUGHT AND SOLD

CLINTON CILBERT,
2 WALL ST.. NEW YORK,

B. W. Strassburger
3-)u1 HERN

ESTMENT tECURITIE!
,
.
1ION2Go31ER1. ALA.

556

• THE CHRONICLE

•

-A proposition
Lethbridge, AlbeTta.-Debenture Election.
%
to •isue $62,000 51 debeniures will be submitted to the
•
•
voters on*Sept. 8. ,
-The Dominion SeMagrath, Alberta.-Debenture Sale:
curities Corporation, Ltd., of Toronto, was the successful
bidder for $14,000 5% road-improvement and town-hall
debentures. Maturity part yearly for 20 years.
Maple ()reek School District.No. 80 (P. 0. Maple Creek),
-Proposals will be received until
Sask.-Debenture Offering.
12 m. Sept. 1 by Rev. R. Hugh Wilson, District SecretaryTreasurer,for $12,000.5% coupon school-bUidling debentures.

Interest annually on Oct. 1 at the Secretary-Treasurer's office. Maturity $400 yearly on Oct. 1 frestp 1910 td 1939, inclusive. Debenture debt,
not including this issue, $70,000. Assessed valuation, $627,127 75.

-Debenture. Satec---The.Dominion Securities
Morris, Man.
Corporation, Ltd., of Toronto., recently.purchased $12,000
5% debentures, due part yearly for 20 years.
-Debenture Sale.
Nanton, Alberta.
-The $5,000.5% coupon sidewalk debentures offered on Aug. 15 (V. 89, p. 247)
awarded to the Bank of.Hamilton in Nanton at 99 and
were
accrued interest. Maturity part yearly for 10 years. Interest is payable in Nanton. •
( North Battleford, Sask.-Debenture Sule.-G. A. Stimson
.1
& Co. of Toronto have been awarded $25,000 debentures.
Peachland, B. O.
-Debenture Offering.
-Proposals will be
received until 6 p. in. Sept. 13 for $9,500 water-works,$7,300
electric light, $3,000 road and $1,000 fire protection 5%
debentures.

[VOL. Lxxxix.

-Debenture Sale.
Strathcona, Alberta.
-An issue of $15,000
432% 30-year fire-hall debentures has been bought by the
Dominion Securities Corporation, Ltd., of Toronto at 94.55.
Authority vote of 203 to 26 at election held Aug. 9.
Sudbury, Ont.-Debenture Sale.
-Debentures to the
amount of $11,800 have been bought by G. A. Stimson &
Co. of Toronto. They carry 5% interest and mature part
yearly for 20 years.
-Debenture Offering.
-Proposals will be
Taber, Alberta.
received up to Aug. 31 by George C. Miller, Sercetary-Treasurer, for $55,000 5% debentures, due part yearly for 20
years.
-Debenture
Tecumseh School District No. 1992, Alberta.
-An issue of $800 53'% 10-year debentures was
Sale.
recently purchased by H. O'Hara & Co. of Toronto.
-On Aug. 16 the
Thetford Mines, Que.-Debenture Sale.
$200,000 5% gold coupon water-works and refunding debentures, described in V. 89, p. 432, were sold to Benson James
Bennett of Thetford Mines at 99. Following are the bids:
I McGill Burroughs '
Benson J. Bennett, Thet.Mines.99
98.50 I
Charles Chanveau
Maturity part yearly on Nov. 1 from 1914 to 1954 inclusive.

97.75

-We see it reported
Welland, Ont.-Debentures Refused.
that Wm. C. Brent of Toronto has refused to accept the
$44,242 43'% improvement debentures awarded him on
May 3. See V. 88, p. 1275.
-Proposals will be
Wynyard, Sask.-Debenture Offering.
received until 12 m. Sept. 7 by F. N. Rowe, SecretaryP. Interest semi-annually at the Bank of Montreal in Vernon. Maturity
,
Treasurer, for $3,500 5% debentures. Maturity part yearly
part yearly for 20 years. H. McDougall is Clerk.
Ont.-Debenture Offering. -Proposals will be for 15 years.
7
Yorkton, Sask.-Bids Rejected.-The following bids, all of
Powassan'
received until Sept. 1 by L.• G. Phillips, Town Clerk, for
which were rejected, were received on Aug. 17 for the $20,000
$5,000 6% school debentures due part yearly for 20 years.
Preston, Waterloo County, Ont.-Debenture Offering.
- 5% sewerage-system-extension debentures described in
.•
Proposals will be received until 12 m. Sept. 10 by H. C. V. 89, p. 369:
& Co.,Tor_
Dominion
Town Treasurer, for $32,000 43/2% water-works-ex- W. A. MacKenzieCo., Tor__ $19,800 J. A. Reid Sec. Corp.,Ltd.,Tor$19,466
Edgar,
19,760
Wood, Gundy 8:
& Co., Ltd.,Regina 19,451
G. M. Annable, Moose Jaw__ 19,251
tension debentures. Authority vote of 197 to 46 at election Hawkey, Somerville & Co.,
19,720 G. A.Stimson & Co., Toronto 19,025
Indian Head
Aug. 2 (V. 89, p. 247). Interest annual. Maturity Nay & James, Regina
held
19,657
Brent, Noxon & Co., Toronto 19,529
part yearly for twenty years.
We are informed that these $20,000 debentures, together
-The $12,000 53'% 20-year
-Debenture Sale.
Rivers, Man.
school-building debentures offered on July 15.(V. 89, p. 124) with an issue of $30,000 5% 30-year water-works-extension
debentures will be re-advertised for sale.
have been sold to Nay & James of Regina at 1.02.60.

INVESTMENTS.

NEW LOANS.

ACCOUNTANTS.

$500,000
$47,500
CITY OF NATCHEZ, MISS., WILKES-BARRE, PA.,
City School District

Refunding Bonds
Public notice Is hereby given that the City of
Natchez offers for sale its Refunding Bonds to the
amount of $47,500. These bonds are in denominations of $500, are payable to bearer, and
mature twenty years from date of issuance
September 15th, 1909. They bear five per cent
Interest, payable annually. Persons desiring
to purchase will please file with the City Clerk
their sealed bids, either for the whole series or
part of same, before 5 o'clock p. m. on WEDNESDAY, SEPTEMBER 15th, 1909. Bids for less
than the entire series should be made•in multiples
of $500. The bids will be opened and disposed
of at the regular meeting of the Mayor and the
Board of Aldermen on September 15th, 1909.
No bids for less than par will be considered.
Certified check for $100 must accompany each
-

.W.G. BENBROOK, Mayor.

T. W. STEPHENS & CO.

•

4% BONDS

•
The Wilkes-Barre (Pa.) City School District
offers $500,000 4% semi-annual coupon bonds in
denominations of $1,000 each. Bids must be in
by noon September 27th. Bonds ready November 1st. For full information address
A. W. MOSS,
Clerk of the Board.
•

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