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A U G .

3

1 9 0 7 .

N O .

2 1 9 7 .

Published every Saturday by W ILLIA M B. DANA COM PANY, Pine St,, comer
Pearl St.. N . Y . City. WlUlam B . Dana, Prest.; Jacob Seibert Jr.. Vlce-Prest.
and Sec.; Arnold G . Dana, Treas. Addresses of al!, Office of the Company.

CLEARINGS— FOR J U L Y , SINCE J A N U A R Y 1 AND FOR W E E K ENDING J U L Y 27
July.

Clearings aial—
1907.
$
7,311,762,405
636,287,217
243,583,142
129,538,004
39,532,242
2H,891,90<
29,677,04S
16,494,934
10,661,864
10,837,014
6,624,986
6,202,SIC
5,40-1,157
4,405,311
2,688,895
2,454,866
3,405,522
2,548,00C
1,210,000
843,915
4,796,158
3.858,940
8,491,051,335
713.663,352
33,907,600
18,232,987
12,973,581
9,551,088
8,868,602
7.513,254
4,700,248
3,174,154
2,329,665
2,442,57*
817,356,609
1,086,805,176
126,819,600
88.453,378
63,024,223
47,304,699
36,597,955
25,953,100
17.424,163
10,860,174
10,362,220
9,650,723
9,537,062
4,771,962
3,282,578
3,711,126
3,948.732
2,949,957
2,751,597
3,262,655
2,324,297
2,602,819
1,629,642
1,978,058
1,852,781
1,002,768
1,777,569
1,558,250
1,645,736
642,651
144.398
1,574,485,651
182,833.806
50,368,77.7
45,492,409
32.054,828
31,143,031
21,861,840
27,187,769
5,008,255
2,018,071
2,171,442
10,880,058
2,096,102
400,140,228
130,825,732
96,838.394
44,139,792
41,374,169
35,352.504
23,529,975
1I,SOO,OCO
9,234,067
0,688,930

1906.

Week ending July 27.
27.

Seven Months.
Inc. or
D ec.

1907.

1906.

Inc. or
D ec.

1907.

1906.

Inc. or
D ec.

1905.

1904.

S
S
S
• $
S
S
% .
5
%
%
7,256,626,103
+ 0.S 55,214,776,39.'; 60,348,870,007
— 8.5 1,497,352.012 1,588,067,73.3
— 5.7 1,402.125.715; 1.059.864.530
— 2.4
+ 3.4
615,512,53-:
4,370,654,838
4,490,530,202
— 2.7
138,300,688
121,011,925
91.880.382
134,912.715
2I8,143,69( + 11.7
+ 6.4
1,666,S97,2H
+ 9.7
1,566,81 9 ,76C
1,566,819.760
50,7S8,567
51,790,305
48,114.539
39,900,627
1 IS,566,81.:
+ 9.5
+ 4.2
840,371,470
876,062,199
840,371,476
+ 9.1
26,735,388
24,511.407
20.509.S96
18.300,760
34,791,735 + 1 3 .t
225,008,212 + 14-5
8,025,872
6,949,306 + 15.5
6,228,805
257,717,653
5.697,532
24,412.54C + 10.2
4,860,541
+ 6.6
+ 3.2
187,054,316
175,500.226
175,500,226
5,27.3,755
5,108,104
3,686,495
22,337,171 + 32.S
5,228,527
4,195,356
222,544,8Sfi
158,706,736 + 40.2
4,965,418
+s.a
3,052,0.71
1(i, 104,62(
+ 2.4
112,616,266
— 4.6
117,997,569
117.997.56S
- 3,010,232
2,575,585 + 16.!.
3,807,896
2.243,473
1.597,494
9,360,678 + 13.8
+
11.5
07,652,890
60,700,902
2,090,132
1,887,931 + 10.8
1,688,746
7,860,532 + 37.S
62,789,496
50,269,895 + 2 4 .7
2,175,523
1,153,798
1,310,887 + 66.0
958,007
5,596,614 + 18.-1
1,394,010
42,160,316
39,175,Ol.i
+ 7.0
1,186,918
992,437
1,283,400
+ 8.6
39,175,013
5,81-5,19-1
+ 6.7
1,196,464
1.085,492
43,101,827
38,911,808 + 10.8
1,125,483
1,16'5,855
+ 2 .6
4,739,39* + 14.0
36,566,765
31,822,462 + 14.9
1,142,243
1,036,670
845,692
1,079,890
30,583,324
4,260,475
32,146,541
+ 5.1
861,928
+ 0.S
643,126
57.3,558
854,165
15,878,135
497,590
— 7.2
327,564
2.375,061 + 13.2
15,871,535
536,115
15,878.135 — 0.04
376,530
2,287,862
+ 7.3
507,464 + 2 6 .3
17,582,318
15,586,336 + 12.8
640,974
408,731
375,000
2,7S7,146 + 22.2
1S,554,427 + 15.4
21,407,412
+
3
4
.4
IS,554,427
689,396
51-3,117
426,915
437,263
2.148.20C + 18.6
15.932,600
16,762,100
15,932,600
+ 5.2
509,400
480,600
+ 6 .0
889,300
386,100
— 2.0
1,251,663
— 4.1
8,594,328
— 3.3
8,424,458
270,897
282,489
191,995
194,945
812,945
+ 3.8
6,079,934
+ 4.5
5,820,118
3,834.265 + 25.7
32,832,340
919,012
11,670,786
705*965 + 30*2
Not Included la total
included in total.
3,858.940 Not. Included
8,355.690,978
+ 1.6 63,278,869,373 68,255,633,536
— 7.3 1,749.714.639 1,832,876.425
— 4.5 1,619,011,636 1,232,490,734
+ 9.1
654,058,131
+ 5.3
4,837,601,140
14^.688,980
5.094,932,211
14a.688.980
+ 3.9
149,331,488
131.438,363
111,951,380
30,722,80c + 10.4
+ 2.6
236,260,100
230,291,400
6.878.200
6,148,800 + 11.9
7,028,900
5,153.200
18,047,968
+ 1.0
+ 6.8
3,557,284
114,936,544
107,602,61*0
— 4.9
3,384,856
2,079,829
3,018.353
11,501,077 + 12.8
73,512,356
72,572,131
2,169,163
2,305,821 ‘ — 5.9
2,216,032
1,748,896
8,414,458 + 13.5
55,585,486 + 15.9
1,430,074
64,417,572
1,850,000
1,239,662
1,660,428 + 11.4
+ 4.0
7,87,8,893 + 12.6
55,814,300
+ 3 .3
1,064,048
1,599,360
1,346,686
3,384,838
57,661,008
46,968,606
6,379,663 + 17.7
1,547,490
1,230,022
1,322,185 + 17.0
50,399,784
+ 7.3
1,055,889
3,514,691 + 3 3 .7
27,972.108 + 17.9
975,651
32,991,967
756,773 + 28-‘J
477.270
586,172
2.732,170 + 12.5
22,605,462
19,220,211 + 17.6
611,786
577,802
+ 5.9
449.553
320,051
2,351,782
— 1.0
14,329,879
+ 7.5
425,992
451,449
— 5.6
391.446
15,407,018
438,191
2.081,054 + 17.3
1-4,596,294
440,240
+ 7.7
408.091
425,861
15.719,974
425,909
+ 0 .0
747.6S2.694
+ 9.3
5,482,554,165
+ 5 .5
5,783.843,996
169,264,583
162,494,743 . + 4.2
126,421,199
149.466.939
149,466,939
902,474,563: + 2 0 .3
6,335,543,169 + 15.2
7,298,653,803
227,910,679 203,912,727 + 11.8 175.S00.235
144.393,412 .
175,800,235
112,370,100 + 12.9
770,630,6501 + 9 .2
22,(508,100
22,608,100 + 15.0
841,790,200
26,002,050
24,122,450
21,234,650
74,571,426 + 18.6
532,454,545
474,311,046 + 12.3
17,172,394
15,921.970
+ 7.9
15,921,970
13,623,080
12,268,920
53,883,997 + 20.3
378,613,146
+ 9.1
10.S95.737 + 18*1
413,024,233
12,865,905
10,895.737
9,601,968
11,155,718
39,316,.560 + 1 9 .5
8,038,530
277,316,208 + 17.0
10,014,335
324,497,687
8,038,536 + 24.6
5,406,143
7,632,516
7.632,516
205,850,614 + 18.6
6,757,732
32,002,138 + 14.3
6,757.732
244,159,006
7,240,711
+ 7.1
6,195,845
5,789,007
22,238,900 + 16.7
158.547,900
+ 7.1
5,186.500
4,820,400
169,802,500
+ 7.6
3,790,600
4,292.500
4,292,500
16,941,584
+ 2 .8
126,650,216
+ 4.2
3,650,832
4,154,992 — 12.1
121,598,970
3,243,517
4,086,756
+ 9.4
9,929,024
— 2.9
87,579.382
2,197,604
+ 1.4
2,167.867
85,031,118
2,003,640
2.394,300
+ 8.0
67,432,474
+ 8.3
— 1.8
9,590,588
2,068,746
1,720,782
73,048,489
2,031,250
2,214,690
8,283,204 + 16.5
1,855,104
58,161,487 + 10.3
1,660.995
64,160,916
1,660,995 + 1.1.7
1,481,932
2,485,203
7,160,801 + 33.2
50,519,937 + 22.9
1,839,756
1,440,872 + 27.7
62,082,863
1,230,793
1,181,143
3,900,424 + 22.3
27.072,646 + 15.4
— 4.1
948,186
988,290
31,235,091
647,446
611,556
744
7 4 4 P7‘>
r-7‘>
— 6.4
3,508,927
771,844
771.844 — 12.8
25,248,343
24,724,407
+ 2.1
672,988
523,445
3,302,778 + 12.4
+ 7.4
788,142
24,529,876
22,839,288
+
15-7
tjo 'jw
641,009
670,319
esu jias
20.141,140 + 15.4
.2,818,870 + 40.1
23,237,988
739,345
639,845
639.845 + 1 5 .6
472,141
441,161
17,301,444 + 16.0
2,489,548 + 18.5
607,917
20,072,397
— 2.0
620,101
512.952
477,494
512,952
+ 0 .7
20,444,762
— 1.6
2,733,036
20,112,604
564,215
572,804
— 1.5
669,711
442,149
2,652,299 + 23.0
21,357,044
16,660,331 + 28.2
650,000
527,936 + 23.1
445.000
445,000
534,690
2,035,782 + 14.2
17,155,202
14,488,526 + 18.4
408,861
388,992
+ 5 .1
355,274
513,000
1,973,387 + 31.9
12,715,914 + 19.2
493,100
15,157,948
371,686 + 3 2 .7
365,428
+ 9.3
1,490,026
11,144,789
10,339,149
+ 7.8
346.319
+ 2.3
281.220
338,658
281,220
174,043
1,695,830 + 16.7
331,124
322,004
13,126,627
11,733,425 + 11.9
+ 2 .8
284,585
399,489
1,483,541 + 24.9
+ 6.9
14,914,107
300.000
13,951,113
343.954
343,954
244,308 + 22.8I
271,914
1,165.344 — 14.0
185,389
7,783,020
8,008,016
— 2.8
236,647
251,127 — 26.2
177.871
322,622
+ 9.4
1,469,365 + 2 1 .0
11,739,494 + 19.1
13,987,619
294,930
297,885
209,332
1,466,674
297,136
+ 6.3
— 8.4
11,597,944
+ 18,3
324,500
295,000
295.000
260,000
1,142.700 + 44.0
9,966,626
+ 35.6
342,730
223,683 + 53.2
175,000
175.000
m
m
156,622
537,328 + 19.6
100,298
91,941
4,272,970
87,458 + 14.7
3,828,338 + 11.6
78,562
Not Included 1 n total
_______
_______
_____
887,796 Not Included in total
1,324,628.744 + 18.9 10,520,165.772
9,239,169,065 + 13.9
326,^65,492 292,097.849 + 11.6 257.548,112 221,942,098
163,268,204 + 12.0
— 0.2
1,337,635,609
38,001,349
38,073,172
995,798,793 + 34.3
33,500,571
27,543,363
44,622,763 + 12.9
375,985,969
330,868.801 + 13.6
9,838,452
9,572,267 + 2 7 .8
8,737,319
5,195,675
37,269,644 + 22.1
+ 7.0
8,107,248 + 22.0
285,540,522
266,806,659
9.888,.583
6,932,228
3.582.785
22,664,637 + 41.0
145,139,707 + 47.1
6,324,461
4,527,812 + 39.7
213,888 208
2,433,483
3.454,153
20,304,493 + 53.4
182,163,514
1-18,237.982 + 14.0
5.816,896
3,763,432 + 54
3,622,895
2,257,667
15,741,512 + 39.1
141,606,656
3,658,083 + 32.1
i y , 496,205 + 27.0
4,833,255
1.756.966
3,083,971
16,572.951 + 6 4 .1
6,100,066
168,436,433
3,347,766 + 82.4
2.000.000
118,710.581 + 41.9
2,724,297
3.524,667 + 42.1
26,752,678
22,578,828 '+ 1 8 .5
946.719
885,671
+ 6 .9
651,373
683.167
1,859,884
+ 8.6
15,451,446
+ 9.6
359,384
14,093,602
339,981
+ 5.7
376,785
504,876
1,405,137 + 54.2
10,260,544 + 30.9
13,427,416
237,314
400,000
288,717 + 38.6
227.550
15.826,708 — 31.3
3,386,854 — 36.5
46,049,186
96,317,013
2,151,558
1,599,950 + 3-1.1
14,367.944
3,027,367 ______
399,214
300,499 + 32.8
46,835.411
327,209,892 + 22.3
76,251,502 + 11.6
2,173.991,702 + 27.0
85.059,937
2,761,138,451
63,471,027
18,610,247
106,110,237 + 2 3 .3
922,544,800
725,603,422 + 27.2
29,076,319
27,691,054
+ 5.0
22,730,771
74,557,865 +-29.9
515,406,922 + 20.9
623,303,967
17,913,079
14.857.526 + 20.6
13.236.755
14,857.526
15,143.0.60
39,636,501 + 11.4
326,824,265
287,944,038 + 13.5
9,700,000
5,792,871
8,786,278 + 1 0 .4
9,398.605
34,554,322 + 19.7
264,798,994
222,651,966 + 18.9
9,-501,748
+
16.6
5,651,011
0 ,2 8 6 ,9 1 5
8,150.752
8,150,752
26,786,462 + 3 4 .3
7,780,249
6,134,414 + 26.8
232,527,878
191,617,172 + 21.4
5,538,182
3,930,503
19,229,590 + 22.4
177,045.129
154.306,068 + 14.7
5,208,300
4,313,489
4,559,990
3,124.120
10,350,116 + 14.0
82,016,664 + 11.1
91.111,997
2,377.098
1.936.683
2,111,863 + 12.6
1,844,513
2.111.863
1,493.883
7,411,868 + 2,4.6
55,529,171 + 21.2
67,289,778
1,891,887
1,539,579 + 22.9
842,512
5,106,544 + 11.4
40,753,464
1,235,664
+ 9.7
33,313,395 + 22.3
1,126,190
1 ,0 4 7 ,1 8 8
991.711
3,611.458 + 26.4
26,278,148 + 12.6
967,021
812,410 + 19.1
29,580,878
397,880
812,411)
960,957
4,130,363
— 7.8
34,179,489
— 2.5
-71,939,656
+ 7.0
729,700
748,217
578,207
573,448
+
4.5
—
8.7
3,409,433
20,744,701
21,461,476
— 3.3
538,807
515,611
445.228
429.503
2,092,845 + 3 1 .2
17.306.2J8 + 18.8
385,266 + 35.0
2 0 i5 9 ,8 5 8
520,265
513.848
332,413
2,029,880 + 13.1
17,205,172
14,096,383 + 22.1
600,955
413,711 + 45.3
308,404
1,090,059
— 3.7
242.862 + 11.7
242,862
8,270,725 + 14.6
271,29'5
9,477,828
256,586
134,354
+ S.7
__
+ 3.0
917,475
4.434.270
917.475
39.225,648
12,515,288 ______
997,348
3 .0
340,098,543 + 22.6
79,053,188
2,877.948,198
2,387,741,693 + 2 0 .5
79,1)53,188 + 113-.0
89.309,735
89.309.735
70,388,929
56,454,916
230,323,761 + 16.5
+7.0
+ 7.0
51,415,426
1,864,929,303
1,712,711,397
+ 8.1
55.000,000
52,541,408
41,651,722
10.3
+ 4.0
65,694,926
555,661,104
14,775.460 — 19.3
561,628,688
+ 1.1
13.253,813
13,253,813
16,000,650
10.022.900
10,603,760 + 10.2
50,899,228 + 15.9
386,770,040
+ 4.0
402.1S2.081
11,682,003
10,-239,834
t f.3 3 6 ,1 5 8
31,896,595 + 33.8
8,22-5,582 + 34.8
8,225,582
325,890,693
247,196.636 + 31.9
5,369 571
11,085,293
4.60J.787
25,588,825 + 12.7
6,963,000
6.963.000 — 10.3
188,436,553
6,242/,72
176.665,885
+ 6.7
6,242,1.72
4,200,316
4,433,292
20,359,000 + 17.1
4,735,500
+ 5.6
166,513,000 + 21.2
201,719.000
3,698,000
5,000,000
5,690,500
148,560,469
+ 4.6
3,447,564
3,295,121
16,381,681 + 11.4
129,822,662 + 14.4
2,129,089
2,312,076
118,925,430
14,429,468 + 23.4
3.114,725 + 23.8
128,278,176
— 7.2
3,854,165
3.854.165
2,327,090
2,400,954
2.777.877 — 14.2
2.777,877
15,136,837 ..1 8 .0
110,288,620
118,556,307
— 7.0
2.384.110
2,384.110
2,549.298
3 ,5 1 5 ,4 8 1
14,824,966 + 25.6
141,739,947
2,670,678
2,670,67.8 + 28 1
142,958,934
2.581.117
3,42-1,532
3,42.1,532
3,395,875
10,935,126 + 3 2 .8
110,444,675
80,707,182 + 36.8
2,124,370 + 40.7
2.124,370
2,98^,356
1,195,826
1,828,608
2,288,321
9,53#,930 + 16.2
07,166,200: + 21.4
2,044,012 + 11.9
81,518,640
1,444,863
1,608,395
7,290,024 + 3 4 .9
2,013,171
1,523,001
998,190
1.523.001 + 32.2
68,378,978
56,533,915 + 21.0
1,700,000
5,637,903 + 24.0
48,158.664
1,566,166
1,098,106
1.566.166
42,S9<i,771 + 12.3
1,316,1-69 + 19.0
1,316,169
1,27(1.607
5 ,3 2 5 ,2 5 9
+ 6.7
45,645,463
1,1+2,145
1,142.145
+ 1.0
1,240.802
1,240,802
45,lK2,2f>9
— 8.0
805,244
1,344,378
— 4.2
0,988.830
1,436,068
51,148,109
1,488,068
45,192.370 + 13.2
1,336,267 + 11.2
984,384
5,690,725 + 2 3 .0
1,376,809
47,146,491
691,217
39,947,482 + 1 8 .0
0 .6
1.244,480 + 110.6
1.009.114
1,244,480
637.539
1,367,572
1,367.572
5,436,150 + 10.4
42,469,846
38,388,327 + 10.6
1,153,757 + 18.5
760.775
1,186,030
1,186,036
563.711
. 41,636,790
35, Un ,C29 + 18.6
4,669,227 + 21.0
1
, 1 0 7 ,8 9 1
1,107,891
+ 7.1
+
7 .1
256,678
5,035,859
+ 4.6
736.191
40,182,865
1,040,000
+ 1.7
902,946
39,494,571
977,377
+ 06.5
.5
2,091,440 — 16.7
13,420,510
15,609,255 — 14.0
246.287
1,729,275 + 15.4
15.337,644
205,607
11,362,431 + 35.0
444.465
444,465
341,385 + 30.2
19,748,754
269,245
1,935,061 + 15.9
339,870
401,376
16,206,348 + 21.4
+ 6.6
376,656
+ 5.4
1.230; 906
10,322,922
+ 9.0
9,467,360
4,000.000 + 10.0
40,920,079
34,003,372 + 20.3

New Y ork ___________
_______ _
Philadelphia..............
Philadelphia......... ......
Pittsburgh___________
BBaaltim
ltimore___
ore_____ . .
Buffalo____
B
u ffa lo ........................
W
a sh in g ton ________
Washington
A lban y______________
y___________
R ooch
ch ester___________
ester__________
............
S cra n ton ____________
Syracuse
. . ................
S yra cu se.......
............ ..
W ilm ington________
ington____
Reading____________
Reading_____________
Wilkes-Barre________
Wilkes-Barre_______
VV.. Va____
Va
Wheeling, W
C
Chester
h ester _____________
- ____
Greensburg
. ______
G
reensburg__________
E r i e .......
________
.......................
B ingh am ton________
Franklin
F ra n k lin ___________
_____
Frederick______ _ __
Frederick________
H arrisburg*______
...........
Y ork
o r k .............................
Total Middle.........
Middle............
B
Boston
o s t o n _____________
____
Providence
P rov id en ce ._____ . . . I
H aarrtford
H
tfo r d ___
__________'
New Haven_____
Haven__________
Springfield_____
Springfield___________
Portland
. . .
P o r tla n d ____________
W orcester_____
orcester____
Fall River..................
River..................
New Bedford______
Bedford. .
H olyoke____________
L o w e ll__________
ll______________
Total New .England
Chicago
__________ __
C h ica go_____
Cincinnati_____
C
incinnati .
____
C lev ela n d _____
D e t r o i t . ___ _____
Detroit______
Milwaukee_______
I ."
Milwaukee___
Indianapolis
Indianapolis_____
.
C olu m b
bu
u s__________I
s....................
____
T o le d o ___________
____
P e o r ia ________
--III
Grand Rapids_______
Rapids
a y t o n __________
D ayton
.
E v a n s v ille ______
___
Kalamazoo .__
.
Springfield, 111............
111____ II
a y n e _______
Fort W ayne
.
Y ou n gstow n ______
__
"iou
Rockford ..............
______
L
Lexington
exin gton ..............
_____
A kron______
kron____________
Canton_____
Canfon______
South Bend................
B e n d ..
I
Mansfield
_
M
ansfield..
Springfield. Ohio . I. I. I
Bloomington
Bloom ington. .
Jacksonville, III____
III..
Q uincy____
uincy___________ __
D ecatu r.................. "
Jackson
.
Ja ck son _____________
Ann A rbor___
r b o r ........... I I "
A
Adrian
d ria n _____________
__ __
"
Total Middle W est.
San Francisco___
Francisco______.
Los Angeles_________
A n geles..
Seattle______
Seattle. .
Portland
_ . .
P
o r tla n d ................
” ”
Saljt Lake City___
City____ __
T a co m a __________
_____
Spokane......................
Spokane......... ........
Helena _______
_
Fargo
F a r g o .......
________
...................
Sioux F
Kaalis____
lls ____
O akland*________
akland*. _
San Jose*............Jose*______ . I l l
Total Pacific............
Kansas City_________
KansasClty__________
Minneapolis.
Minneapolis__________
O
Om
m aha....................
aha________ __
St. Paul....................
Paul_____
..
D enver_____________
e n v e r ______
St. Joseph____
J osep h .__________
Defi
De£ M oin es_________
es__
Sioux City_____
City................ ..
W leM
ich ita
ta......................
_____
Topeka __________
______
4 ,5 6 8 .4 2 9
avenport_____ .
D avenport___________
3,807,847
Colorado S
Springs
prin gs____
.
3,114,393
2.746,813
Cedar R a p id s _______
P u eebblo
l o_______
. . ................
2,294,049
F r e m o n t____________
t ................
1,050,000
L in c o ln * ____________
___
4,569,106
416,962.094
Total Other W e s t ..
St. Louis.......
L o u is ................
...............
268,384,450
New
Njew Orleans________
Orleans__
68,337,236
59,002,065
L o u is v ille ___________
___
H o u s t o n ____________
________
42,670,117
____ ..........
R ich m on d .........
28,840,232
G a lveston
lv eston .........
______..........
23,884,000
Atlanta
_______
A
t la n t a ______
__________
.
18,251, (.24
17,809,050
N a s h v ille ___________
_____
....................
Savannah ................
12,397,118
M em phis____________
18,626,596
F
Fort
ort W orth__________
orth______ __
14,518,890
N o rrfo
fo lk ____________
_____________
U , 08'4,930
9,841,160
B
Birm
irm ingham ________
6,988,598
K n o x v ille ___________
__________
5,682,798
Augusta_____________
A
ugusta_____________
M ob ile______________
6,694,901
J a ck son v ille ________
7 ,0 0 1 ,6 1 8
6,000,000
Chattanooga________
Little R ock __________
5.650,947
Charleston___________
5,268,450
W ilmington, 5J.C____
N .C . .
1,742,855
B
Beaum
eaum ont.....
ont.............
............ ..
L 996,623
M a c o n ______________
2,243,362
1,300,900
Columbus, G
Ga_____
a_______
__
W a c o ______________
________________
4,400,000
Colum bia____________
bia________
V a ld o s ta ____________
N ot Included in total
Total Southern____
648,677,620
563,059,391 + 15.2
Total
Totalad__________
an___________ :12,348.533,537 11,658,370,242
+ 5.9
Outside New Y o r k -' 5,031,811,132' 4,401,844,139 + 14.4

__
Nat included in total
4,740.851,214
4,342,452.704
+ 9.2
118,6)1,093
92,178.898
+ 7 .5
132.071,037
132.671,637
123,363,296
89.962.817.004 91,881,542,865
— 0.6 2,278,338.236 1.775.528.254
— 2.1 2,552,086,323
2,566.717,003
2,552,086.323 2,586,717.003
34.748,040,611 31,532,672.858 + 10.2 1.054.734,011
1.054,734,011' 978,069.268
978,069,268
+ 7.8 876.212,521 71-5,263,724
♦Not included In totals for month ana seten months; comparison Incomplete.
Table Clearings by Telegraph and Canadian Clearings on Page 260.




246

THE CHRONICLE.

THE FINANCIAL SITUATION.
The dependable as distinguished from the nominal
stock of gold in the world of nations is always an in­
teresting inquiry. Of all large holders, no single item
of the estimated stock has been subject to more critical
question than the running count in the United States.
That total is conspicuous for its large gross size, pub­
lished every month in Government statistics; but it
is further conspicuous because so very little of the gross,
aside from the amount in the New York Gity ClearingHouse banks, is actually subject to the direct and
immediate demands of commerce. On many occasions
only a very few millions of bullion or coin are needed
to be dislodged and put on their way to London or
Paris to set our money market whirling upward.
What must be the real environment, with such a stock
of gold assumed to be in storage, when business reserve
can be so terribly timorous and shaky on losing a few
millions? Still, that fact is true. We have seen it
illustrated time and again. It has been clearly in
evidence during recent weeks.
This feeling of suspicion as to the correctness of the
United States figures representing its old stock of gold
has led to a new investigation of the question,the re­
sults of which have been published this week. This
work of a lengthy and laborious re-investigation has
been done by Mr. George E. Roberts, Director of the
Mint. It is well known that several factors that enter
into the compilation of annual increase and decrease
of the holdings of that metal are liable to inaccuracies.
For illustration, we would mention the shortage in
the customary deduction for industrial consumption;
that item is chiefly made up from actual returns
received by the Mint Bureau from manufacturers,
which returns the Director has found reason to believe
have averaged in some small measure below the
actual, chiefly in earlier years, making a total
omission of about $25,000,000. There are also sev­
eral other possible sources of error which have been
put to a rigorous re-examination; among these are the
customs houses returns of coin imports and exports;
also the record of the movement of coin into and
out of the country in the possession of travelers,
&c.
Altogether, every item has been analyzed and recast
from June 30 1873 to June 1 1907. The review was
started at June 30 1873 because at that date Mr. Linderman was Mint Director and made a compilation
which was accepted as a fair basis for a recount. Di­
rector Linderman June 30 1873 reached a total of gold
in the United States of only $135,000,000. The cur­
rency of the country was at that time on a paper stand­
ard, the stock of gold was near a minimum, and for
these and other reasons the conditions were favorable
to a correct summary. It needs to be said, however,
that even Mr. Linderman’s total required revision,
it having included an error in estimating various
“ coin items” as wholly gold which were, in fact, other
metals. Eliminating these, the stock in the Treasury
was found to be only 171,188,548. For that and other
reasons the total gold holdings at the date mentioned
(June 30 1873), instead of being$135,000,000, should
be stated at $105,006,634.
Summarizing the errors discovered, Mr. Roberts
makes the total deductions $135,000,000. Bringing
the calculation down to June 1 1907, the total stock



[V o l .

lxxxv

.

of gold coin and bullion in the United States is found
to reach $1,484,845,280, of which $1,109,458,330 is
held by the Treasury and national banks.
The question recurs, why, with so large a stock of
gold in the United States—for this recount seems to
establish that it is large—should uneasiness be so easily
aroused at losing a few millions? Of course, trade
conditions maybe so adverse as to become top-heavy.
We have been buying largely, until a situation has been
reached in which we owe more than we have “ things”
with which to liquidate at once our indebtedness.
The balance of trade is for the time being against us;
but as we look at the trade situation, it does not seem
to be at all a case of extremity. We are in the state of
a man who has plenty of assets, but who wants time.
Unfortunately, though, our chief assets are tainted
so that Europe, who is the money lender and our lead­
ing creditor, is cautious about taking them, charges
high interest to cover the risk, and is not eager to get
them at any price. We cannot dispute the charge
that the securities are tainted, because day by day, in
the face of the whole world, the owners are being
denied the right, through the courts, even to defend
their property against confiscation. The chief ruler
of the nation, and the majority of the Governors of
States, taking their cue from the President, have vir­
tually combined to shut out the owners of these prop­
erties from the protection of the courts. This is only
the latest act in a long, bitter war against railroads
and capital interests, which antagonism and hostility,
we are told, are to be transmitted to a succeeding ad­
ministration.
As was foreshadowed in this column last week
would be the case, gold exports hence to Paris were
resumed. The volume of the metal sent forward was
small ($500,000), but the fact that the gold was shipped
and that the export was aided by the Bank of France
seemed to indicate that so long as conditions remain
unchanged, the movement would continue. These
conditions were, however, changed and gold exports
were arrested. This was accomplished by a relaxation
in the demand for the ninety-day loan maturity,
causing a reduction in the interest rate in New York
and so making less profitable the drawing of foreign
finance or loan bills. Free offerings of such bills, had
they been continued, would have depressed the rate
for sight exchange, thus enabling remitters to obtain
drafts instead of being compelled to meet urgent re­
quirements for settlements with gold in lieu of ex­
change. While London bankers may restrict accepttances of finance bills, such as those which were de­
scribed in this column a fortnight ago, and thus limit
drawings thereof that may be made for the purpose
of promoting stock speculation, they appear to be
encouraging the drawing of loan bills and the creation
of credits against which gold may possibly be with­
drawn from London should conditions favorable
thereto be further developed.
These loan drafts, which are also called finance bills;
are usually drawn as the result of agreement between
a New York banker and a London banking house.
The former cables a request for terms on which the
discount of a ninety-day bill drawn against credits
can be effected by the London house. If the terms
shall be advantageous the bill is drawn and forwarded
to the drawee, and on thej:eeeipt][of the*draft by the

A u g . 3 1907.]

THE CHRONICLE.

latter it is accepted and discounted according to the
pre-arranged terms. The drawer is then advised of
the fact, and he thereupon draws against the credit
thus created and loans the proceeds in our market
or otherwise employs them. When the bill is about
to mature, the drawer makes provision for its cover
with a sight draft, and in this way the transaction is
closed.
Such bills as are now being drawn will, it is
expected, be covered in November, when, presumably,
exchange will be low, thus assuring a profit on the
transaction; moreover, if the proceeds of the loan bill
shall be employed at current time-loan rates for ninety
days an additional profit will be secured. Of course
there is a possibility of loss as the result of adverse
exchange or monetary conditions at the period of
maturity of the bill, but the probabilities are assumed
to favor a profit. Doubtless the fact of such drawings
of loan bills is not concealed, though their volume may
not be disclosed, and this may account for the ex­
treme sensitiveness of the London situation, as has
been recently shown. This week the failure of the
Bank of England to secure the greater part of the
5 million Cape gold which was offered in the market
was a serious disappointment to the Bank. The pro­
curement by the Rothschilds of half of the above sum
—thus securing the return of the metal which was sent
to London from Vienna last December—temporarily
created disquieting conditions that were reflected in
an excited and a lower securities market and in higher
unofficial discounts. While there exists so much
concern regarding incidents of this character, it is not
surprising that appeals are made to London bankers
to refrain from contributing, through their loaning
operations, to an aggravation of the situation. That
these bankers do not generally heed such appeals, but
continue to facilitate American borrowing, may be
due to the fact that they are not so apprehensive of
trouble as are the pessimists who are urging con­
servatism .
The acquittal of William D. Haywood, SecretaryTreasurer of the Western Federation of Miners, at
Boise, Idaho, on Sunday last of the charge of having
been engaged in a conspiracy which resulted in the
murder of ex-Governor Frank Steunenberg, while a
matter for regret, can hardly be viewed in the light
of a miscarriage of justice. Nor yet does it prove that
President Roosevelt’s characterization of Haywood
and his associates as “ undesirable citizens” was in­
correct. The trial showed very clearly that if ever
there was a body of men who could with perfect pro­
priety and absolute accuracy be termed as undesir­
able it was the crowd who had been in control of the
Western Federation of Miners, and who directed its
policy, hesitating at no crime to accomplish their
ends. Nevertheless the circumstances were very pe­
culiar. The case of the State rested in great part
upon the testimony of Orchard, an accomplice, and
who actually committed the murder of ex-Governor
Steunenberg. On the witness stand Orchard con­
fessed that he placed the bomb which caused the
death of the victim and he told a record of crime
which we should judge must have few if any parallels
in the criminal annals of the whole world. He de­
tailed case after case of diabolical villainy in which he
had been engaged, and, according to his own testi­



247

mony, he was ready at all times, for a money considera­
tion, to do anything he was asked to do. His claim
was that he was acting for and on behalf of the Western
Federation of Miners and that in all his criminal deeds
he was simply doing the bidding and carrying out the
plans of Haywood and his confederates. The State
produced much testimony tending to establish the
truth of this charge and called a great array of
witnesses who corroborated all the essential details of
Orchard’s long story. But the fact remained that
Orchard actualy committed the murder and that Hay­
wood was not only not present when it occurred, but
was a thousand miles away.
Orchard confessed to such offenses that there would
naturally be great hesitancy on the part of a jury to
convict the accused on the testimony of such a witness,
even though it might be corroborated in all essential
particulars. A man who, according to the story he him­
self told, had been guilty of unconscionable acts—•
what was there to prevent him from swearing falsely,
with a view to transferring responsibility for the mur­
der from his own shoulders to those of others? He
would have a motive for doing so in the desire to
save his own skin—hoping that by helping on the case
of the prosecution he might eventually secure immunity
for himself. We have heard scores of men here in the
East, who felt thoroughly convinced that the former
leaders of the Western Federation of Miners were a
criminal body, declare unhesitatingly that if they
were on the jury they would never convict on the
testimony of such a.witness. No doubt the jury which
actually tried the case was influenced by the same
motives.
There has been much jubilation on the part of
Socialists and others over this outcome of the trial,
and some of the Socialists even went so far as to send
President Roosevelt a sarcastic telegram of congratu­
lation, which the latter, with a true estimate of its
value, gave out to the press without a word of com­
ment. We feel convinced that the explanation of
the verdict of the jury is found in the circumstances
we have narrated above. At all events, we are abso­
lutely certain that the acquittal of Haywood is not to
be construed as an approval of the acts of the Western
Federation of Miners or as absolving or freeing its
former officials of the serious charges that have been
made against them. It is our opinion that in the
West no less than in the East the great body of citizens
could not be got to countenance such work as the
Federation was engaged in for a long time and under
which whole States were held in abject terrorism.
Incidentally, the outcome of the trial should have
one good effect—in inspiring new confidence, at least
on the part of the so-called laboring classes, in our
judicial system. It has been charged over and over
again by labor leaders that judges and juries were un­
der the control of the moneyed classes, and that these
latter could dictate results in any given case. Though
often disproved, the charge has been reiterated in end­
less repetition. But the Haywood case is such a con­
spicuous illustration to the contrary that he must be a
bold man who will henceforth indulge in accusations
of that kind. It is admitted that the charge of the
trial judge was eminently fair—both prosecution and
defence agreeing in that—while it is perfectly obvious
that the jury was entirely uninfluenced by extraneous
considerations of any kind, and acted solely and alone

248

THE CHRONICLE.

[V

o l

.

l x x x v

.

according to its sense of right; and each man in Phelps, Dodge & Co. It has been rumored this week
response to the dictates of his own conscience.
that electrolytic copper had got down to 20 cents.
The fact is that a very cautious policy is being pursued
Governor Hughes has signed the bill which the by business men generally in view of the marked indi­
Legislature passed at the request of Comptroller Metz cations of a reaction in general trade and this feeling
of this city, allowing the city authorities, after a fail­ very naturally has communicated itself to the copper
ure to dispose of bonds at public sale, to sell them by consumers. The same is true concerning the iron and
private negotiation, provided not less than par is ob­ steel industry. There the situation might easily
tained for the same. We regard this measure as an become very acute at any moment. Production in
eminently proper one and we are glad that Governor all departments of iron and steel, owing to the longHughes furthered its passage at the recent extra­ continued extraordinary demand, has reached phe­
ordinary session of the Legislature. As is well known, nomenal proportions, and with any considerable abate­
the city authorities have also this year been given the ment in the demand, manufacturers might find no little
right to fix the rate of interest (previously limited to difficulty in disposing of such a large output. Up to
4%) at a higher figure at their discretion. This fur­ the present time mills and factories have been kept
ther Act will enable the city officials to proceed here­ busy on past orders and this is a situation which may
after with absolute freedom. We are inclined to continue for quite a little while longer. As soon as
think, too, that it will often be found possible to sell these old orders, however, are exhausted, the perplex­
the whole or a portion of an issue of bonds to bond ing problem will arise how to get new orders of the
dealers or investors after a public sale has been tried same amount and adequate to keep mills and factories
with only partial success. At all events, the experi­ fully employed. This follows because in the iron and
ment is worth trying. The city authorities are reluc­ steel industry so much depends upon the purchases of
tant to raise the rate of interest above 4%, though the railroads, and these latter have been obliged to
they now have the authority to do so. Taking advan­ restrict their outlays by reason of the fact that they
tage of the Act just approved, the city is inviting pro­ are no longer able to raise new capital for the purpose
posals anew for a large block of 4 per cents. The, new with any degree of freedom.
offering, however, though large, is much smaller than
As far as the Steel Corporation is concerned, it is
the previous offer, which proved almost a flat failure. well fortified against a possible period of adversity.
On June 28, it will be remembered, the city in­ The whole policy of the management has been directed
vited bids for $29,000,000 4 per cents, but received towards raising the corporation to a state, physically
applications aggregating only $2,121,840. The pres­ and financially, where it could pass through a lean
ent offering is $15,000,000 4 pef cents. For these, period without experiencing any serious ill effects.
proposals]are invited until Monday, Aug. 12. $13,000,- However, there seems to be no immediate likelihood
0OQof the amount consL-ts of bonds running fifty years of any great shrinkage in the company’s earnings,
— until May 1 1957—and $2,000,000 are assessment since the unfilled orders on hand June 30 1907 were
bonds which mature in ten years—May 1 1917. A still of great magnitude, aggregating 7,603,878 tons.
•long-term New York City bond, enjoying tax-exemp- This is smaller than the total on March 31, but a falling
tion, and which can be obtained in the neighborhood off is usual between these two dates, and the present
of par, looks like a very attractive proposition. The aggregate of 7,603,878 tons compares with only
outeome of this new offering will be awaited with much 6,809,589 tons on June 30 last year and but 4,829,655
interest, not unmingled with some anxiety.
tons on June 30 1905. The earnings for the June quar­
ter of 1907 were far in excess of the amount for any
The United States Steel Corporation has this week quarter of any previous year, reaching $45,503,705,
given out a marvelously favorable report of earnings, which is over $5,000,000 better even than the very
covering the June quarter, and yet this has attracted large total for the June quarter in 1906, which had been
far less attention than the statement made by one of $40,125,035. The disposition made of these earnings
the officials of the company after the adjournment of reflects the policy which has been undeviatingly pur­
the meeting of the directors, that the business booked sued in the administration of the property. After
by the corporation since the first of July showed a providing for interest, sinking funds and depreciation
falling off in some items compared with the same and reserve funds, a surplus of $30,843,512 remained
period of last year of 25 to 30%. We think it is for the quarter. Of this only $8,846,432 was distrib­
natural that this was the attitude taken, since uted in dividends (1 % % on the preferred stock and
it is obvious to students of events that past results y2 of 1 % on the common stock), which still left avail­
just now cannot be accepted as offering any guide to able $21,997,080, and out of this no less than $18,the future. As it happened, too, the announcement 500,000 was set aside as a special appropriation for
with reference to the falling off in the Steel Company’s additional property, new plants, new construction
business came coincident with reports of very unsatis­ and discharge of capital obligations.
factory conditions in the copper trade and a slackening
The most striking feature in the monthly returns of
in the demand in the iron and steel trade. As far as
the copper trade is concerned the recent cut in prices earnings of the Pennsylvania Railroad continues to be
made by the producing interests seems to have failed the augmentation in expenses as the result of the in­
entfrely to attract any of the large consumers. As a creases in wages and the high prices for materials,
consequence the copper market for the time being supplies and everything else entering into the operating
•remains in a very unsettled condition. Only small accounts of the railroads. The figures for the month
orders are being placed and these are at considerable of June have been published this week, and they show
concessions from the new schedule of prices announced that as compared with the same month last year an
.last month by the Amalgamated Copper Company and increase of $1,674,700 in gross earnings on the Eastern




AVGc 3 1 9 0 7 . 1

THE CHRONICLE

lines has been attended by an addition of $1,243,000
to the expenses and an increase of $973,100 in gross
on the Western lines has been accompanied by an ad­
dition to the expenses of $770,400. For the combined
lines, therefore, a gain of $2,647,800 in gross has yielded
an improvement of only $634,400 in the net. For the
half-year ending with June the result is 3^et more strik­
ing. No less than $9,314,700 was added to the gross
of the Eastern lines in these six months but $8,879,800
of the amount went to meet increased operating ex­
penses. In the same way, with $4,920,300 gain in the
gross of the Western lines, expenses have risen $4,137,600. In other words, the Eastern and Western lines
together have enlarged their gross for the six months
in the prodigious sum of $14,235,000, but owing to
the great increase in expenses only $1,217,600 of this
has been carried forward as improvement in the net.
In the following we furnish a six-year comparison of
the gross and net earnings on the Eastern lines—being
the only portion of the system for which we have
the data for such a comparison.
Lines East oj
Pittsburgh.

1907.

1906.

1905.

June.
$
S
$
Gross earnings 14,035,487 12,360,787 11,408.087
Oper’g expens’s 9,632,983 S,389,983 7,810,983
Net earnings

4,402,504

3,970,804

3,597.104

1904.

1903.

1902.

s
S
9,777,559 10,827,859
6,074,760 7,320,960

S
9.590.059
6.213.060

3,702.799

3,382,999

3,506,899

Jan. 1 to Jun e 30.
Gross earnings 79,141,549 69,826,849 61,974,849 56,695,676 60,155,276 53,419.876
Oper’g expens’s 59,169,503 50,289,703 46,311.503 41.S77.119 42,831,819 35.778,419
N et earnings 19,972,046 19,537,146 15,663,346j 14,818,557 17,323,457 17,641,457

There was no change in official rates of discount by
any of the European banks this week. Influenced by
the competition in the London bullion market on
Monday for the $5,000,000 South African gold which
was then offered—which competition resulted in the
procurement of one-half of the sum by Vienna and in
the advance in the price of bar gold to 77 shillings
10% pence per ounce that was paid for the metal for
Austrian account—the London discount market was
deranged and some tension developed through fear
that this new demand for gold would make difficult
the restoration of the Bank of England’s reserve.
Consequently consols fell heavily and unofficial dis­
counts advanced. Later in the week the situation
improved because of the successful bi-monthly settle­
ment, though speculative and investment operations
were tame; at the close of the week, however, consols
again declined, reflecting some anxiety regarding the
Egyptian financial situation. Compared with last
week, unofficial rates for discounts at London were
% of 1% and at Berlin and Frankfort 34 °f l rV higher,
while those at Paris were unchanged.
The most striking feature of the .statement of the
New York Associated Banks last week was the increase
of $17,913,700 in loans; this was traced to expansions,
chiefly by three of the larger institutions, which seemed
to indicate syndicate operations. The cash reserves
were augmented by $5,866,000 and the reserve re­
quirements by $5,695,400; consequently the surplus
was increased $170,600 to $9,25s .675. Deposits
showed a gain of $22,781,600. The bank statement
of this week should reflect, among other items, a loss
of $850,000, though shipments of gold to Canada and
of $500,000 to Paris; also the payment of $2,940,635 representing a Central Pacific note.

249

shipments to Canada, together with preparations for
the disbursement of about 30 millions for dividend?
and interest August 1 contributed to the development
of a firmer tone for money on call and the withholding
of offerings of loans for fixed dates, because of the pen­
dency of the usual demand by interior correspondents
of New York banks for funds for crop distribution;
caused a rise in rates for money on time. Day-to-day
loans, representing bankers’ balances, were effected
at 3V2% and at 2% on the Stock Exchange during the
week, averaging 3%; banks and trust companies quoted
23^% as the minimum. On Monday loans were at 3%
and at 2*4% with the bulk of the business at 23^ % .
On Tuesday transactions were at 33^% and at 2 ^ %
with the majority at 3%. On Wednesday loans were
at 33^% and at 2% with the bulk of the business at
33/2%- On Thursday transactions were at 33-2%
and at 2% with the majority at 23^%. On Friday,
loans were at 2% % and at 23^ % with the bulk of the
business at 23^ % ■ Time contracts on good mixed Stock
Exchange collateral were firm at 5% for sixty and
53^% for ninety days, 5% for four and 6 @ 6 ^ for
five to six months; where loans were sought on allindustrial collateral the rates were 34 of 1% higher.
Commercial paper was nominally quoted at 6% for
sixty to ninety-day endorsed bills receivable, 6 @ 63/2 %
for prime and Q!A % and above for good four to six
months’ single names; very little business was reported
and mercantile borrowers generally resorted to their
banks for discounts.
The Bank of England rate of discount remains un­
changed at 4%. The cable reports discounts of sixty
to ninety-day bank bills in London 3% % . The open
market rate at Paris is 3)/%@334% and at Berlin and
Frankfort it is 43^ @ 4 ^ % . According to our special
cable from London, the Bank of England lost £610,147
bullion during the week and held £35,839,682 at the
close of the week. Our correspondent further advises
us that the loss was due largely to shipments to the
interior of Great Britain. The details of the move­
ment into and out of the bank were as follows: Im­
ports, £372,000 (of which £5,000 from Paris aiid
£367,000 bought in the open market); exports, £ 120 ,000 (wholly to South America), and shipments 0$
£862,000 net to the interior of Great Britain.

The foreign exchange market was strong early in
the week, influenced by a good demand for remittance
incident to the bi-monthly settlement , by the disturbed
discount situation in London resulting from the un­
successful competition by the Bank of England for the
Cape gold that was offered in the bullion market on
Monday, and by the inquiry for bills to remit for securi­
ties which had been returned from abroad. The en­
gagement on Monday of $500,000 gold for shipment to
Paris disclosed the fact that the Bank of France was
still offering inducements to shippers of the metal
hence to the French capital, and this led to some specu­
lative buying of exchange. The very moderate offer­
ings of commodity bills and the prospect that because
of the generally late harvest of grain and cotton there
would be a deficiency in the volume of drafts against
these staples at the period when usually commodity
bills are plentiful, contributed to the strength of the
market. On Welnesday, when the London bi­
The resumption of gold exports to Paris and the monthly settlement was successfully effected, the de-




250

THE CHRONICLE.

mand for cables relaxed, rates for sight drafts receded
and the market then responded to speculative selling
and to freer offerings of finance and loan bills, which
were drawn to take advantage of the firm rates for
ninety-day money. The fall in exhange below the
point at which gold could be profitably exported and
reports that London and French bankers were dis­
posed freely to accept and discount finance and other
loan bills caused a further decline in the market on
Thursday, and the tone was heavy thereafter.
Nominal rates for sterling exchange are 4 84@4 85
for sixty day and 4 87)^@48 8 for sight. On Saturday
of last week the market was quiet,though generally
firm, with long 5 points lower, compared with the
previous day, at 4 8390@4 8395, short off 5 points at
4 8710@4 8715 and cables 10 points higher at 4 8770
@ 4 8775. On Monday the tone was dull and the only
change was a rise in short of 10 points to 4 8720@
4 8725. The market was inactive on Tuesday, with
long and short unchanged and cables 5 points higher at
4 8775@4 8780. On Wednesday, influenced by of­
ferings of loan bills, the tone was easier at a decline of
20 points for long to 4 8370 @ 4 8375, of 25 points for
short to 4 8695 @ 4 87 and of 25 points for cables to
4 8750 @ 4 8755. On Thursday the market was heavy
and 5 points lower for long at 4 8365 @ 4 8370, 5 points
for short at 4 8690 @4 8695 and 10 points for cables at
4 8740 @ 4 8750. The tone was weak on Friday at a
decline of 15 points for long and for short and of 5
points for cables.
The following shows daily posted rates for sterling
exchange by some of the leading drawers:
F ri.,
W ed.,
M o n .,
Tues.,
Thurs.
F r i.,
July 26 July 29 July 30 July 31 A uy. 1 Aug. 2
Brow n
J60 days
Bros. & Co_____ — \S ig h t..
J60 days
Baring
& C o----------------- ___I S ig h t..
Bank British
160 days
N orth Am erica. . . . I S i g h t . .
Bank o f ______ . . ___/ 60 days
M ontreal_______ . .. I S i g h t . .
Canadian B a n k .. ___J60 days
o f Commerce . . . . . I S i g h t . .
H eidelbach, IckelS60 days
heimer & C o____ . . . IS ig h t._
L a z a r d __________ ___/ 60 days
Freres _________ . . . I S ig h t._
U erchants’ Bank
J60 days
IS ig h t..
o f Canada______

4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4

8434
88
843-3
8734
85
88
84J4
8734
8434
88
8434
88
8434
88
8434
8734

8434
88
- 8434
88
85
88
84
88
8434
88
8434
88
8434
88
8434
88

8434
88
8434
88
85
88
8434
88
84 J4
88
8434
88
8434
88
8434
88

8434
88
8434
88
85
88
8434
88
8434
88
8434
88
8434
88
8434
88

8434
88
85
88
85
88
85
88
85
88
8434
88
8434
88
85
88

84
S7J*
85
88
85
88
85
88
85
S8
84
87J4
84
8734
85
88

The market closed on Friday at 4 8350 @ 4 8360 for
long, 4 8675@4 8685 for short and 4 8735@4 8745 for
cables. Commercial on banks 4 8310@4 8320 and
documents for payment 4 82% @ 4 83% . Cotton for
payment 4 82% @ 4 82%, cotton for acceptance 4 8310
@ 4 8320 and grain for payment 4 83% @ 4 83%.
u -.
—
The following gives the week’s movement of money
to and from the interior by the New York banks.
W eek ending Aug. 2 1907.

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

N et Interior
Movement.

$7,296,000
1,647,000

$5,316,000 Gain $1,980,000
753,000
894,000 Gain

$8,943,000

$6,210,000 Gain $2,733,000

n

With Sub-Treasury operations and gold exports the
result is as follows.
N et Change in
Bank Holdings.

Into
Banks.

Out 0/
Banks.

Banks’ interior movem ent as a b o v e . .
Sub-Treas. oper. and gold e x p o r t s ...

$8,943,000
30,100,000

$6,210,000 Gain $2,733,000
1,000,000
29,100,000 Gain

Total gold and legal tenders______

$39,043,000

$35,310,000 Gain $3,733,000

W eek ending Aug. 2 1907.

The following table indicates the amount of bullion
in the principal European banks:




Aug. 1 1907.

Bank o/
Gold.
England. .
France . .
Germ anya
Russia d _.
Aus.Hun.b
S p a in ____
Ita ly _____
Neth’ lands
Nat. Belg.a
Sweden

[V

I

Silver,

j

o l

.

l x x x v

.

Aug. 2 1906.
Total.

Gold.

| Silver.

,

Total.

£
£
£
£
£
£
35,839,682
35,839,682 36,757,012
36,757,012
112,029,395 39,023,235 151,052,630 116,589,453 42,453.90i 159,043,354
32.567.000 9.025.000 41.592.000 35.185.000 10.385.000 45.580.000
116,896,000 6.708.000 123,604,000 109,267,000 6,006,000 115,273,000
45.620.000 12.386.000 58.006.000 47.020.000 12.559.000 59.579.000
15.591.000 25.780.000 41.371.000 15.187.000 24.814.000 40.001.000
33.682.000 4,516,400 38,198,400 29.708.000 3,900,800 33,608,800
5,769,700
5,517,200
5,744,300 11.514.000
5,787,300 11,304,500
3.120.000
1.560.000 4.680.000 3,170,667
1,585,333
4.756.000
4.139.000
3.877.000
4.139.000 3,877,000

Total week 405,253,777 104,742,935 509,996,7121402,278,332 107,501,334 509,778,666
Prev.week 407,033,661 105,673,173 512,706,834 404,789,124 108,030,016 512,819,140
a The division (between gold and silver) given in our table of coin and bullion
In the Bank of G erm any and the Bank of Belgium Is made from the best estimate
we are able to obtain; in neither case Is it claimed to be accurate, as those banks
make no distinction in their weekly returns, merely reporting the total gold and
silver; but we believe the division we make is a close approximation.
b The Austro-Hungarian bank statement is now issued in Kronen and Heller in­
stead of Gulden and Kreutzer. The reduction of the former currency to sterling
Pounds was b y considering the Gulden to have the value of 80 cents. As the Kronen
has really no greater value th*n 20 cents, our cable correspondent in London, in
order to reduce Kronen to Pounds, has altered the basis of conversion b y dividing
the am ount of Kronen by 24 Instead of 20.
d The total of gold In the Bank o f Russia Includes the balance held abroad—
that is, the am ount held for Russian account in other Continental banks. The
proportion so held and consequently duplicated in the above statement is about
ono-cjuarter of the total.

MUNICIPAL OWNERSHIP RECOMMENDA­
TIONS.
While the late Mark Hanna was concerned in it, the
National Civic Federation displayed considerable ac­
tivity, and was especially busy over the still unmiti­
gated problem of the relations between capital and or­
ganized labor. Not so much has been heard of the
Federation lately, but only a few weeks ago it was said
that reports from its experts on the problem of munici­
pal ownership were forthcoming in almost a threaten­
ing ponderosity, several volumes of 500 pages each
being mentioned, probably somewhat loosely. Install­
ments of this have been appearing, as noted in the
“ Chronicle” two weeks ago, but the investigators
seem to have found the problem many-sided, and have
been talking on all sides so much that they have left
the subject very nearly in the same uncertain condi­
tion as before. This past week, however, we have
had what is called the final report, and it has the great
advantage of some precision and nearly unanimous
agreement, being signed by 19 of the 21 and dissented
from in moderation by the other two.
The conclusions principally are that no private
profit can safely be allowed to come from any public
utility which affects the public health; therefore, un­
dertakings into which sanitary motives enter largely
should come under public operation, in which operation
the profit to be made should take a subordinate place.
Next, that municipal ownership should be applied
only to revenue-producing utilities which involve
public health, public safety, transportation or a per­
manent occupation of public streets or grounds. Next,
that if private corporations receive public franchises,
the latter should be granted for only a limited term
and should meanwhile be subject to purchase at a fair
value. Next, that municipalities should have the
power to enter the field of public ownership, upon popu­
lar vote, on reasonable regulations. In order to carry
out these propositions, it is recommended that revenueproducing utilities, having their necessary bond issues
a first charge on their property and revenues, be ex­
empted from inclusion within the debt limit.
Further recommendations are the separation of the
finances of such undertakings from the general finances
of the city, exclusion of political influence and personal
favoritism from the management, and an executive
manager having full powers and holding his position
during good behavior. Publicity, a competent con­
trol over capitalization and issuing of securities, a

A u g . 3 1907.J

THE CHRONICLE.

downward-sliding scale of prices, and a few other
excellent things per se, are also recommended.
If the services of the wisest and best citizens could
be had, and if practical politics could be kept out, the
prospect would quite clearly be delightful. But, while
it is easy to admit that the theory of the recommenda­
tions is sound—indeed, such existing utilities as parks
and water are founded upon thisjtheory—and it is there­
fore easy to accept the views of the final report, with only
minor qualifications, we are forced to admit once
more that all of it is a counsel of perfection. Have
we reasonable grounds for expecting to realize this in
practice, and is it safe to venture? There has been a
time in the history of this city when membership in
the Board of Aldermen was really a distinction; can
the conditions which permitted that be restored?
The committee, headed by Melville E. Ingalls, of the
Big Four Railroad, and composed of able men, seem
to doubt, and Mr. W. J. Clark, of the General Electric
Co. (who is one of the two partial dissentients and goes
farthest in dissent), thinks the condition of affairs in
Great Britain has not improved under the public own­
ership experiment, and that the prospect of success
here with it is less than in Great Britain. Hence, he
believes in private ownership of public utilities for
Americans, and he recommends “ State regulation and
protection of public service companies, provided by
statute, and as far as possible automatic in its applica­
tion and operation.”
Our own belief is that investigators, whether acting
individually and independently or by designation as a
committee, may go over the subject a dozen times
without agreeing upon anything more definite or more
radical than this report, and that if any further steps
towards public ownership of utilities is really taken,it
will be by a political movement and by popular impulse,
and not on recommendation from any authoritative
sources. An inquiry which, like this one, stops with
general and conditional suggestions, should be taken
as cautionary and thus as not wasting time.
GOLD PRODUCT FOR FIRST SIX MONTHS OF
1907.
The world’s gold production so far as the reports
of the output of the mines for the half-year ending
June 30 have been received, give promise in the aggre­
gate, as did the remits we presented for the March
quarter, of a greater contribution to the general stock
than they did in the corresponding period of 1906.
We say in the aggregate, for the reason that while
Africa and the United States, as well as a few less
important contributors, are increasing their product,
some other fields, notably Australasia and India, are
gradually fall'ng behind.
Chief interest just now centres in the returns from
the Witwatersrand district of Africa. That is so not
so much because it is the greatest producing field in
the world as on account of the labor situat on there.
When the strike of the wh'te laborers (still in force) is
borne in mind, and consideration is given to the fact
that a smaller number of Kaffirs and Chinese were at
work in the last two months of the half year, the de­
crease in yield reported for those months is found to be
really unimportant. Thi-s is especially noteworthy
when it is remembered that production is on so high a
plane. Moreover, the falling off recorded in June as
compared with May is apparently due wholly to the




251

one less working day. As previous monthly results
are well above those for corresponding similar periods
in the previous year, a slight easing up in the volume
of the output would of itself give no cause for anxiety.
But there seems to be reason for some concern as
to the future. The question to be answered is, What
will be the effect on the product of the Rand after the
Chinese repatriation has been carried out? That
edict i 5already in operation and comprehends returning
to their own country, as their contracts expire, all the
Ch'nese laborers. Some have already been sent away
and by the end of the calendar year the loss to the
mines will be upwards of 17,000 men, or nearly onethird of the Chinese contingent as it stood on June 1.
The question naturally arises as to how the gap made by
this repatriation policy is to be filled. Not, of course,
with whites to any considerable extent; they make up
a very small part of the working force -now—only
about 5,000 out of a total of all nationalities and colors
of 150,000— and further accessions, it has hitherto
been presumed, are not available. This being so, the
expectation has been to recruit the force mainly from
among the natives.
General Botha, in announcing the policy of the
Government in June last, stated that it had been de­
cided not to re-enact the labor ordinance but to send
the Chinese home immediately on the expiration of
their contracts. He said further that the Government
was moved not 'only by the conviction that the pres­
ence of the Chinese was in the highest degree inimical
to the interests of the Transvaal, but algo by the con­
sideration that the supply of native labor had for some
time been exceeding the demand. He said also that
the Government was confident that Natal and Zululand
would also be available for supplies of labor shortly.
Negotiations were likewise afoot for the reorganization
of the Witwatersrand Association, insuring -more
satisfactory recruiting on the East Coast. Moreover,
the Government anticipated that the repatriation of
the Chinese would ead to the restoration of more
healthy and stable conditions in the mines, the larger
employment of white labor, a more economical use
of natives, and more extensive utilization of mechani­
cal appliances.
Premier Botha said he deplored the
strike on the Rand. The Government, he said, had
repeatedly tendered its friendly advice to both parties.
It should be noted that the Government has not com­
mitted itself to a policy of repatriation beyond the
present session; also that the leader of the opposition
Sir G. Farrar, severely criticized the Government pro­
posals repatriating the Chinese, claiming it foreshad­
owed the ruin of the mining industry.
As regards the production of gold, the Rand output
for the six months ending June 30 1897 reached 3,028,336 fine ounces, against 2,543,729 fine ounces in
the like period of 1906 and 2,275,572 fine ounces in the
first half of 1905. And if to these figures we add the
results for the districts of the Transvaal outside the
Rand, which were respectively 110 396 fine ounces,
112,720 fine ounces and 85,198 fine ounces in the years
named, we have for the Transvaa1 as a whole 3,138,732
fine ounces as the yield for the six months of 1907,
which compares with 2,656,449 fine ounces in 1906
and 2,360,770 fine ounces in 1905. Outside the Trans­
vaal gold mining in Africa is achieving very satisfac­
tory result?. In Rhodesia, the Soudan, Egypt, Mo­
zambique, on the West Coast, & c., much progress in de­

252

THE CHRONICLE.

velopment is reported, and for the half-year the com­
bined yield in those sections has reached app oximately
425,000 fine ounces in 1907 against 335,000 fine oun es
in 1906 and 250,000 fine ounces in 1905. Conse­
quently the production of the whole of Africa for he
six months of the current year has been 3,563,732 fine
ounces, against 2,991,449 fine ounces and 2 610 770
fine ounces respect vely for the same period of the two
previous years. This is certa’nly a most satisfactory
record.
No actual returns of production are obtainable for
any considerable portion of the mines of the United
States until the close of the calendar year, but there is
much unofficial information secured from the impor­
tant fields in Nevada California, Alaska, &c. And
the information we have been able to procure denotes
that the results for the six months of 1907 have
exceeded those for the same month of the preceding or
any earlier year.
Australasia’s production, on the other hand, the
last few years, has been slowly declining, due to poorer
results in the lower levels. For the first half of the
current year the return-, as they come to us, indicate
a yield approximating only about 1,675,000 fine
ounces, against about 1,900,000 fine ounces in the six
months of 1906 and 1,950,000 fine ounces n 1905.
Furthermore, the Colar fie’d of India, the workings
from which most of the gold of that country is secured,
reports a yield of but 260,743 ounces for the current
half-year, against 286,221 ounces and 307,229 ounces,
respectively, for the six months of 1906 and 1905.
Combining the results for Africa, Australasia and
India, the fields from which actual procurable statistics
of gold production for the six months are obtainable
we have a total for 1907 of 5,499,475 ounces, against
5,177,610 ounces in 1906 and 4,867,999 ounces in 1905.
The excess over 1906 for the half-year is thus seen to
be about 321,805 ounces, or a little over 6 % . With
this rate of gain kept up for the ful’ year, it would seem
to indicate that, with the augmentation that now
appears probable in the United States, the output of
the world’s mines in the calendar year 1907 should
approximate very closely to 203^ million fine ounces, or
a mill on fine ounces more than n 1906.
ALABAM A’S RAILROAD CASE IN THE FEDERAL
COURTS.
The Legislature of Alabama, evidently encouraged
by the action of the North Carolina State authorities,
has passed a bill appropriating $50,000 for resisting
the contests made by the railroads against certain new
railroad laws enacted in Alabama the present year.
These new laws in Alabama in some respects go even
further than the new laws in North Carolina in their
disregard of the rights of the railroads. As in the
North Carolina case, too, a Federal Judge has enjoined
these laws and declared them unconstitutional, but the
State authorities in Alabama have not gone the length
to which the North Carolina authorities went and
bidden defiance to the decree of the Federal Court.
Governor Comer is apparently willing to let the matter
take its course in the Courts, which is the wise and
sensible policy, since the question is simply and solely
one for the Courts. It is not one for executive inter­
ference either on the part of the State or the genera
Government. However, Governor Comer has not
hesitated to send a telegram lauding the Governor of




[V o l .

lxxxv

.

North Carolina for the action taken by him and the
large measure of success attending his efforts.
It may be recalled that Judge Pritchard, in defend­
ing and explaining his injunction order against the
North Carolina law, pointed out that there was nothing
unusual in the proceedings instituted before him.
Similar suits, he noted, had been instituted in the State
of Alabama, where Judge Jones had issued an injunc­
tion, and also in the State of Georgia, where Judge
Newman had pursued the same course. It will there­
fore be useful and instructive to see on w7hat grounds
Judge Jones based his ruling in the cases which came
before him, now that the Alabama Legislature has
made a special appropriation to defeat the action of
the carriers in resisting the new laws and the North
Carolina case is attracting so much attention. Judge
Jones handed down his opinion on July 13. In the
Alabama cases there were really three State laws in­
volved. Two of these relate to the fixing of passenger
and freight rates, the passenger rate being reduced
from 3 cents a mile to 2}/> cents and maximum freight
rates being fixed for 110 classified commodities. The
third law undertook to declare that any railroad cor­
poration of another State (or “ foreign” railroad cor­
poration, as the designation is) which should appeal
from any rate made by the State Legislature to the
Federal Courts should, ipso facto, have its charter
revoked.
As far as the new rates are concerned Judge Jones
observes that, prima facie, the rates fixed by law are
reasonable. It devolves upon those who contest such
rates to show that they are unreasonable and this he
thinks the complainants in the present case have
plainly done. Oridnarily, the constitutionality of a
statute presents a pure question of law on the face of
the statute. In this class of cases, however, the pro­
tection accorded by the Constitution against rates
being fixed unreasonably low comes into play. Under
the Fourteenth Amendment the basis of all calcula­
tions as to the reasonableness of rates charged by a
railroad must be the fair value of the property used by
it for the convenience of the public. For persons and
property carried only within the limits of a State, the
reasonableness of rates, it is declared, must be based
upon the value of the property devoted to domestic
commerce—that is, commerce within the State—
without reference to the value of the property devoted
to Inter-State commerce, and neither the profits nor
the losses in the one business, Judge Jones declares,
can be estimated in determining the reasonableness
of the rates as to the other.
Where the constitutional provision forbidding rates
to be unreasonably low is invoked, the Court must
ascertain the facts upon wrhich the reasonableness of
the rates depends before it can finally pronounce the
validity of the statute. Judge Jones lays down the
rule that when it is sought to enjoin the enforcement of
rates, and a preliminary injunction is asked, the
question is not what the final proof will show, but
whether complainant has shown a state of facts, taken
in connection with the opposing evidence, which pre­
sents such a probability that the rates may be adjudged
unreasonable on the final hearing, as justifies a Court
in preventing the operation of the statute until final
proof, and whether balancing the relative harm which
can befall the adverse interests by the injunction, the
Court, acting for the best interests of all concerned, in

A u g . 3 1907. J

THE CHRONICLE

view of the facts of the particular case, should grant
or withhold the writ.
Where the evidence in the preliminary hearing leaves
it doubtful whether the operation of the reduced rates
will be beneficial or harmful, the Court, since the bur­
den is upon the party complaining to show their unrea­
sonableness, may order them tested by actual opera­
tion; but such experimentation with the property of
any one, Judge Jones avers, is never justifiable in any
cases when the facts as presented on the preliminary
hearing show only a moderate income under the former
law, and very scant earnings, or deficiency, under the
reduced rates.
Here, therefore, we have clearly outlined the theory
upon which the Courts generally proceed in issuing
injunction orders restraining for the time being the
operation and enforcement of a State statute whose
validity is called into question.
The other statute Judge Jones declares unconstitu­
tional without reservation or qualification. We refer
to the Act approved March 6 1907 to which allusion
has already been made above and which provides that
any foreign corporation which shall institute a suit in
any Federal Court to enjoin or restrain any intraState transportation rates fixed by the Alabama Legis­
lature or by the Railroad Commission shall,ipso facto
forfeit its right to do domestic business in Alabama.
Judge Jones says that no State can lawfully enact
that a corporation or an individual shall forfeit a
vested right of property because of the bringing of
suit in the Federal Court; since the police power of a
State ends with the prevention of things which menace
the welfare and happiness of its people, and the opera­
tion of the supreme law of the land which gives the
right of suit in a Federal Court cannot invade the
lights or the peace of the State or imperil or hamper
the happiness, rights and welfare of the peo­
ple.
Moreover the new law—which has come to be known
as the “ Outlaw” Bill—is in direct violation of the
Alabama Constitution. Section 240 of the State
Constitution declares that all corporations shall have
the light to sue and shall be subject to be sued in all
Courts, in like cases, as natural persons. Accordingly,
the Legislature is forbidden to impose any penalty
upon a foreign corporation for bringing a suit in the
Federal Court or in any other Court when no such
consequence attaches to a domestic corporation or a
natural person who brings a like suit. Judge Jones
says that the new statute is an attempt to do indirectly
what the Constitution forbids to be done directly.
It puts onerous conditions on the exercise of a right
which the Constitution forbids to be invidiously or
unnecessarily burdened, in order to deter the coiporation from the exercise of\the right. It is likewise a
denial by the State of the equal protection of the laws
guaranteed by the Federal Constitution, since it im­
poses upon the foreign corporation the forfeiture of a
property right which under the law of the land cannot
result in the case of any other corporation or person
bringing a like suit.
Furthermore, where, as in this instance, the State
statutes provide that a domestic railroad corporation
may sell ‘‘ all its property, road-beds, rights and fran­
chises” to a foreign corporation, and that such property
when so purchased shall be “ subject in all respects to
the laws of the State as if owned by a domestic cor­




poration." these stipulations enter into and form part
of the obligation of the contract made by the purchase
by the foreign corporation of such domestic pioperty.
The foreign corporation thereafter has the light to
hold and use and operate such railroad property, sub­
ject to no other restrictions as to length and nature o f
use than the existing laws provided in the case of
domestic corporations, or such as may thereafter be
lawfully passed in the exercise of the police power of
the State.
The State has u n d o u b t e d ^ the right to exclude
foreign corporations, but where it has waived its right
to exercise its arbitrary prerogative by the passage of
laws permitting foreign corporations to acquire and
use a particular species of property, upon terms and
conditions inconsistent with the exercise thereafter of
this prerogative of the State, the Constitution both of
the State and of the United States protects the pur­
chaser against the impairment of his right by any arbi­
trary action of the State, and the latter cannot there­
after interfere with any lawful use of the property by
a foreign corporation, except for cause defined by the
laws, applicable alike to all similarly situated, and
after a hearing in the Courts.
In this way Judge Jones reaches the conclusion that
attempts like this which would seek to deity to any class
of citizens access to the Federal Court in protection of
the rights guaranteed under the Constitution are illegal
and void. The decision is an important one, for if
Alabama could undertake to outlaw foreign corpora­
tions in that manner it would not be long before we
should find many other States engaging in the same
endeavor. The result could not be otherwise than
disastrous, not only to property rights but to business
enterprise. For obviously no one would take capital
to a place or engage in mercantile or financial pursuits
where the undertaking that he was engaged in was lia­
ble to banishment by the State whenever it suited the
whim or caprice of the Legislature to issue a decree to
that effect regardless of the rights and the interests
of those affected by such action.

PROPOSED

TAX UPON CONSUMERS OF
ANTHRACITE.
The propensity of State and county officials to
increase the taxes of the railroads has at length
reached the anthracite coal properties owned chiefly,.
directly or indirectly by the group of railroads known
as the anthracite carriers. The small area covered
by the anthracite coal fields is not realized by the
average citizen. These deposits are confined chiefly
to four counties in the eastern part of Pennsylvania,,
namely, Lackawanna, Luzerne, Carbon and Schuyl­
kill, with small portions of the veins lapping over into
six other counties. The officials of the four counties
named have it within their power to cause an increase
in the cost of hard coal to every user of t hat desirablefuel in every part of the United States. The normal
production of anthracite for market is about 55.000,000
tons per annum, the maximum output being 59,362,000 tons, which mark was reached in the year 1903,
following the curtailment of production in 1902, when
operations were suspended on account of the great
strike. County officials are disposed to disregard the
amount of coal produced and to increase the valuation
for the purposes of taxation of the coal remaining in

254

THE CHRONICLE.

the ground, and in pursuance of this policy they
appear to be going to an extreme which will be detri­
mental to the interests of consumers.
If the effect of increased taxation of unmined coal
were to stimulate production so as to increase the
amount of coal above ground, and thus cheapen the
price of fuel to consumers, the result of higher taxes
might be beneficial to the public; but the process does
not work out that way: The owners of the coal lands,
finding their expenses increased by taxation, will be
apt to add the amount of the increase to the cost of
coal at the mines. This increased cost will follow the
fuel until it reaches the consumer, who will bear the
burden. Thus the consumers of anthracite all over
the United States may be called upon to pay special
tribute to the four counties in Pennsylvania which are
so fortunate as to possess the only deposits of hard
coal to be found in this country. .
The manner in which the increase in taxation is
regarded by the officers of the coal companies is indi­
cated by the following semi-official statement which
was given to the press:
“ Users of anthracite coal all over the country will
feel the results of increased taxation of coal lands.
Assessed valuation has been doubled in Schuylkill
County, Pa., while all other property of the county has
been increased only 4%. Coal lands formerly assessed
at $21,000,000 have been raised to $42,000,000, but
the remaining property in the county has only been
raised from $28,000,000 to $29,000,000.
“ The increased valuations epidemic throughout
the anthracite region were not made to cover
deficits in public funds, but with the purpose of
transferring to coal land owners the greater share of
tax burdens.”
Luzerne County officials have fixed the coal valua­
tion at $67 per foot per acre, while Lackawanna
County officers have made the assessment $100 per
foot per acre. Schuylkill County officers were desirous
of a uniform assessment in the entire region based upon
the per foot principle, which has reference to the thick­
ness of the veins. As the Luzerne and Lackawanna
officials disagree on the valuation, the plan to obtain
uniformity has fallen through.
Sites of populous cities have coal underneath. Such
coal lands have been heretofore taxed by the acre,
but now it is proposed to tax these lands as other
property in the cities is taxed, namely, by the lot.
The valuation of the Lehigh Valley Coal Company’s
property in the city of Hazelton has thus been raised
from $500 per acre to $2,000. As the company has
492 acres of coal lands within the city limits, the assess­
ment is thereby increased $738,000. The company
has withheld payment and will test the legality of the
assessment in the courts. Counsel for the companies
operating in Luzerne and Lackawanna counties have
determined to appeal to the courts for protection.
They will base their cases upon the claim that coal
lands are taxed higher than any other property in the
counties, and if they lose their suits in the lower courts,
they will be carried to the Supreme Court of Pennsyl­
vania for final determination.
Estimates of the amount of anthracite unmined vary
greatly, but one expert places the amount at about
4,500,000,000 tons. It is on this coal that the officials
of the few counties in Pennsylvania desire to exact
tribute from consumers everywhere.




[V o l .

lxxxy.

THE COUNTRY’S LARGE IRON PRODUCTION.
•^We"'are*accustomedTto large'figures in dealing with
matters relating to the iron industry, and hence the
making of new and unexampled records no longer
attracts the attention it once did. And yet there is
something truly marvelous in the way the output of
iron is being increased in this country, each new state­
ment showing further growth on top of previous in­
creases which in themselves were of phenomenal ex­
tent. The American Iron & Steel Association, through
Mr. James M. Swank, has made public the statistics
of the production of pig iron in the United States in
the first half of the current calendar year. And
a remarkable record these statistics reveal. Im­
posing results had been looked for, but the total
runs some what ahead even of the highest recent
estimates.
With absolutely complete statistics from the manu­
facturers, Mr. Swank finds that the total make of iron
for the six months ending June 30 was almost 13^
million tons— 13,478,044 tons. This is an increase,
as compared with the second half of 1906, of 753,103
tons, and as compared with the first half of 1906 of
895,794 tons. We have already indicated that this
output for the first half of 1907 is much the largest of
any half-year in the country’s history. Still more
striking contrasts are possible. We might point out,
for instance, that in these six months the United States
produced more iron than either of those two other large
iron-producing countries, Germany and England,
make, or ever have made, in any full year. But there
would be nothing novel or unusual in such a statement,
since the United States has for several years enjoyed
the distinction of producing decidedly more iron in a
period of six months than either of these other two
countries in a period of twelve months.
Perhaps the best way to indicate the wonderful
advance in iron production in the United States within
a relatively brief space of time is to use an illustration
employed by Mr. Swank. He points out that not only
was the country’s output the first half of 1907 far in
excess of that of any previous half-year, but it was in
excess of that of any whole year prior to 1899. A yet
more striking contrast, however, indicative of the
wonderful expansion which has occurred, is found in
the statement that as late as 1894 the production of
pig iron in the entire world amounted to only 25,600,000 tons, whereas now the United States alone (taking
as a basis the output for the six months of 1907) is
producing at the rate of 27,000,000 tons a year. In
order that the reader may have precise figures showing
the way the make of iron in the United States has been
rising, we furnish the following exhibit of the produc­
tion in half-yearly periods for the last eleven and a half
years. It will be noted that while the output the first
half of 1907 was 13,478,044 tons, the corresponding
aggregate ten years before, in the first half of 1897,
was only 4,403,476 tons.
P R O D U C T I O N O F P I G I R O N IN H A L F - Y E A R L Y P E R I O D S .
1896— 1st
2d
1897— 1st
2d
1898— 1st
2d
1899— 1st
2d
1900— 1st
2d
1901— 1st
2d

G ross Ton s.
h a lf .................... .. 4 ,9 7 6 .2 3 6
h a lf_____________ 3 ,646,891
h a lf ____________ 4 ,4 0 3 ,4 7 6
h a l f . - ................... 5 .2 4 9 ,2 0 4
h a l f - .......... ......... 5 ,8 6 9 ,7 0 3
h a l f - ..................... 5 ,904,231
h a lf.......................6,2 8 9 ,1 6 7
h a l f - ..................... 7 ,3 3 1 ,5 3 6
h a lf ____________ 7 ,6 4 2 ,5 6 9
half,_____________ 6 ,1 4 6 ,6 7 3
h a lf ............. ......... 7 ,6 7 4 ,6 1 3
h a lf _____________ 8,203 741

19 0 2 — 1st
2d
1903— 1st
2d
1904— 1st
2d
1905— 1st
2d
1906— 1st
2d
1907— 1st

G ross T on s.
h a lf....................
8 ,8 0 8 ,5 7 4
h a lf_____ ______ 9 ,0 1 2 ,7 3 3
h a l f . . .................. 9 ,7 0 7 ,3 6 7
h a l f - . - ............... 8 ,3 0 1 ,8 8 5
h a l f ____________ 8 ,1 7 3 ,4 3 8
h a lf ____________ 8 ,3 2 3 ,5 9 5
h a lf.................... -1 1 ,1 6 3 ,1 7 5
h a l f . ............... ..1 1 ,8 2 9 ,2 0 5
h a lf _ ___ . .1 2 ,5 8 2 ,2 5 0
h a lf____________ 12,724,941
h a l f ___________ 1 3 ,4 7 8 ,0 4 4

THE CHRONICLE.

A u g . 3 1907.]

Classifying the iron according to the fuel used in its
production, we get the following comparison for 1907
with the first half of the four preceding years. We
need hardly say that the preponderating portion of the
iron is now made with bituminous coal and coke as
fuel.
Iron in which anthracite is used has
droppedalmost out of sight, and even
iron
in which mixed anthracite coal and coke is
employed forms a relatively insignificant portion
of the whole.
P R O D U C T IO N
F ir s t S i x M on th s.

OF

IR O N

1907.

A C C O R D IN G
1906.

TO

1905.

FUEL
1904.

U SED.
1903.

B ltu m . coa l an d c o k e 1 2 ,5 1 4 ,0 1 4 1 1 ,6 1 1 ,0 0 6 1 0 ,1 6 2 ,4 8 8 7 ,3 3 7 ,2 7 9 8 ,401,001
M ix ed a n th ra cite
an d c o k e __________1
739 ,3 0 5
754 ,743
815 ,028
607 ,624 1 ,046,401
A n th ra cite a lo n e ___ !
18,929
8,779
15,179
26,261
15,147
205 ,796
C h a r c o a l ____________ i
207 ,722
213 ,3 5 6
170 ,512
2 3 3 ,6 4 4

255

diminished orders for all the different form of iron
and steel. Up to the present time mills and furnaces
have been kept busy on past orders. With new orders
in great y reduc d volume, a material lessening of the
tremendous activity in the iron and steel industry,
which has been such a prominent feature of the commerc a history of the Un'ted States in recent years,
seems almost inevitable. Hence, wh le great encour­
agement is to be derived from the unexampled produc­
tion of pig iron in the first haf of 1907, these results give
absolutely no clue to the probable course of th:ngs in
hV immed ate future.

RAILROAD GROSS EARNINGS FOR THE HALFYEAR ENDING JUNE 30.
T o t a l ________
1 3 ,4 7 8 ,0 4 4 1 2 ,5 8 2 ,2 5 0 1 1 ,163,175| 8,173,438 9 ,7 0 7 ,3 6 7
It will no doubt be a surprise to most persons to
Unless a recession in general trade (of which, unfor­ hear that in the first six months of 1907 the further
tunate y, there are some indications) should give the addition to the gross earnings of United States railroads
iron and steel industry a setback, the chances are exceeded any similar addition in the corresponding six
that the country’s iron output will mount to still months of previous years. We say this will probably
higher tota’s in the near future. Mr. Swank reports be a surprise, because previous gains have been of such
that in 1907 the number of furnaces actually in blast great magnitude, and all through the current year there
during a part or the whole of the period was 382, as has been so much talk of a possible reaction in general
compared with 374 the last half of 1906 and 361 the business and a shrinkage in the volume of the traffic
fir^t half of that year. The most important fact, how­ of the railroads. No such shrinkage occurred. In­
ever, i? that on June 30 there were 29 add tional fur­ stead, railroad facilities have been taxed to the utmost
naces in course of construction. These wi 1 all use in taking care of the traffic offering, and as„a result
coke as fuel. In addition 3 furnace swere being re- the improvement in gross earnings reaches proportions
bui’t (two coke and one charcoal fu nace) and it was outrivaling the phenomenal performances in that re­
thought kely that an adandoned charcoal furnace spect in the past.
We wish to lay emphasis on the fact that our remarks
in Tennessee wou d also be revived. Not only that,
but on June 30 there were 13 furnaces projected (a 1 relate entirely to the gross revenues. These have been
coke), the construction of some of Avhich was to be exceedingly satisfactory. On the other hand, the
commenced at once, though work on others may not showing as to the net has been quite the reverse, by
far the greater portion of the increase in the gross
soon be undertaken.
Thus there not the least likelihood of a dearth in having been eaten up by augmentations in the expen­
iron. Indeed, the probabilit es are that the output ses. We shall not, however, attempt to deal with the
w 1 be in excess of the demand. Trade reports speak expense accounts or the net earnings on the present
of a v sible slackening :n the demand and there appears occasion, since reasonably full returns as to the net
litt e hope of an early rev val. A recess'on 'n general will not be available for some weeks to come. We
business, provided t was unattended by serious fa'l- speak this word of caution, in passing, so that the
ures, m ght not count for so much. But the situat:on casual reader may not be led astray and induced to
of our great transportation lines is very suggestive think that from the railroad standpoint the year has
and does not promise cont nued activity in the iron been a good one simply because the gross revenues
and stee1 ndustry. The railroads constitute the larg­ have undergone noteworthy expansion.
Our compilations cover 196,117 miles of road. On
est single consumer of iron and steel products in the
country and a very pronounced check in the demand this mileage the increase in gross receipts as compared
by hat ndustiy has already occurred. Thus far, the with the first six months of 1906 reaches $125,960,785.
gross r venues of the transportat on lines have kept The ratio of increase is 12.72%. In this last particular,
up remarkab y well, but even if large surpluses were that is, the ratio, the improvement is not quite as
avail able for the carry ng out of plan; for new extensions large as in the first six months of some other years,
and improvements they wou d not suff ce for that but in amount, as already stated, the gain stands
pu pose.
unexceled. In the first six months of 1906, for in­
What the railroads in a country like the United stance, our table showed an increase of $117,543,761,
States need most is constant supplies of new capital. or 14.27%, while in 1905 the increase was $63,652,030,
Such supplies are not now availab e except in a very or 7.52%; 1903 was another strikingly good year, but
I m’ted way and only at hard terms in most instances. though the percentage of increase then was 13.68, the
For twe’ ve to eighteen months the railroads have amount was much smaller than for 1907, or $101,found it diff cu t and in some cases impossib'e to bor­ 946,842. Obviously, the large gain for 1907 is vested
row. Their credit has become seriously impaired. with additional significance by reason of these striking
Whethe •we ascribe this state of affairs to the oppres- and cumulative gains of previous years. The following
s ve treatment they are receiving at the hand^ of State carries the record back twelve years. It will be
and nat'ona’ author ties or whether we ascribe t to observed that during the last decade it has hap­
some other cause, the fact itse’f remans. Owing to pened but once that there was no increase,
th's inab lity to borrow, the roads will be forced very namely 1904,in which year there was a small de­
•
• materially to curtail their outlays, and thisjmeans crease.




256

THE CHRONICLE.
E a rn in g s.

M ilea g e.
•Jan. 1
to
Y ea r
Jun.ZO G iv e n .
1 8 9 6 ..
1 8 9 7 ..
18981 8 9 9 ..
1 9 0 0 -.
1 90 1_.
•1902-.
19 0 3 _ .
19041 9 0 5 -.
1 9 0 6 .1 9 0 7 ..

M ile s .
1 55 ,133
1 58 ,295
158 .775
3 61 ,166
166 ,704
175,371
179 ,065
173,655
177,673
185 ,912
182,611
196 ,117

Y ea r
In P reced . cre'se
M il e s .
153,997
157,463
157 ,702
159,865
162 ,190
171,257
176 ,4 5 9
169,747
173,495
183 ,320
179 ,614
193,135

%
0 .7 9
0.52
0 .6 8
0.81
2.7 9
2.40
1.47
2.36
2.41
1.41
1.67
1.54

Y ear
G iven
4 5 8 ,2 4 9 ,1 9 7
4 7 3 ,0 8 4 ,9 2 4
5 3 6 ,3 7 5 ,7 7 6
5 5 6 ,3 2 6 ,3 6 4
6 4 3 ,3 4 2 ,6 4 3
7 0 4 ,5 3 8 ,7 9 2
7 4 9 ,0 2 3 ,0 0 5
8 4 7 ,0 3 4 ,3 1 8
7 9 4 ,9 2 9 ,1 6 8
9 1 0 ,0 2 7 ,2 5 8
9 4 1 ,4 2 9 ,8 8 2
3',115 123431

Y ear
P r eced in g .

V e e r ea se.

+ 22
435, 6 14 ,1 3 7
475, 2 9 3 ,3 5 0
— 2
477, 0 35 ,4 8 2
J-59
523, 231,211
4-33
565, 3 93 ,511
+ 77
642, 3 2 1 ,5 1 4
+ 62
4 47
701, 6 8 8 ,2 8 4
745 0 87 ,476 4 101
810, 131,983 — 15
846, 3 7 5 ,2 2 8
+ 63
823, 8 86,121 + 117
1 6 2 ,6 4 6 + 125

$

,635,060
,208,426
,340,294
,095,153
949 ,1 3 2
,217,278
,834,721
,946,842
,202,815
,652,030
,543,761
.960,785

5.1 9
0.46
12.44
6.32
13.78
9 .6 9
6.74
13.68
1.87
7.5 2
14.27
12.72

N o te .— N eith er t h e ea rn in gs o f th e M e x ica n r o a d s n o r th e m in in g o p e r a ­
t io n s o f th e a n th r a c ite c o a l r o a d s are in c lu d e d in th is ta b le .

The foregoing shows the results just as revealed by
our compilations. But these compilations are neces­
sarily in some respects incomplete. About 10 % of
the mileage of the country is not represented, since it
has been impossible up to the present time to procure
returns from the same, and in some instances it will
be impossible to procure any returns at all; further­
more, among the roads which are represented in our
tables, there are several instances where the June
figures have not yet been made public and we have
been obliged, therefore, to content ourselves with the
results for the five months to May 31 instead of for
the six months to June 30. We think it conservative
to say that if we could have full returns for the entire
railroad mileage of the country, the gain for the six
months would<,be raised to $140,000,000, if not to
considerably over that sum. On previous occasions
we have computed the increase for the first six months
of 1906 at $135,000,000 and for the first six months
of 1905 at $70,000,000. In 1904 we made a decrease
for the six months of between $18,000,000 and
$20,000,000; for the six months of 1903 we estimated
there had been an improvement of $115,000,000; for
1902 an increase of $50,000,000: for 1901 an increase
of $70,000,000; for 1900 ati increase of $90,000,000;
for 1899 an increase of $42,000,000 and for 1898 an
increase of $68,000,000. Altogether, therefore, the
aggregate increase for the ten years foots up $760,000,000. That is , gross earnings of United States rail­
roads were $760,000,000 larger in 1907 than they had
been in 1897. And this covers merely the first six
months, the period from January to June. Such re­
sults furnish their own commentary and it is not neces­
sary to dilate upon the same.
In one respect the magnitude of the 1907 gain is
somewhat misleading as an indication of the activity
of trade or the normal growth in traffic. In 1906 the
coal tonnage of the railroads was very materailly
reduced as a consequence of a suspension of mining
in a large number of States. In the anthracite regions
the mines were idle during the whole of April and the
first ten days of May. In the bituminous regions sus­
pension of mining was never at anv time general.
Nevertheless, in Pennsylvania and in most of the
Middle Western and Southwestern States there was
much idleness and the resumption of work was only
gradual, being delayed in a few cases until after the
close of the half-year. We referred to the presence of
this disturbing influence in reviewing the earnings for
1906, but it is apparent now that the part played by
it was never fully appreciated by the general public.
The growth of other classes of traffic served at that
time to obscure in great measure the falling off in the
coal tonnage. This year, with the coal traffic again of
normal volume, the gains as compared with the dimin­
ished tonnage of 1906. are on that account correspon­
dingly larger.




[V o l .

lxxxv

.

In brief, then, except for the troubles at the coal
mines, the gain in 1906, large though it was, would
have been still larger, while, on the other hand, except
for these troubles, the increase the present year would
have been to the same extent reduced. The Pennsyl­
vania Railroad in 1906, notwithstanding the
interruption to mining, reported shipments of coal and
coke on the lines east of Pittsburgh and Erie for the
six months at 23,900,037 tons against only 21,775,772
tons for the same period in 1905; but the present year,
under a complete absence of coal troubles, the ship­
ments rose to 28,559,077 tons. This includes both
anthracite and bituminous coal, as wrell as coke. On
the other hand, the shipments of anthracite over all
the rail lines for the six months, which had in 1906
been reduced to 25,385,801 tons from 30,716.997 tons
in 1905, for 1907 rose to 32,884,595 tons.
As far as the grain movement is concerned, there
was the advantage of a larger movement, at least in the
case of the Western roads. The details of the Western
grain movement are contained in the following table,
from which it appears that the aggregate deliveries of
wheat, corn, oats, barley and rye were 339,651,750
bushels in the first part of 1907. against 283,933,868
bushels in the first half of 1906. a gain of nearly 56
million bushels.
R E C E IP T S A T W E S T E R N
Flour.
Jan. 1 to June 29. (bbls.)
Chicago—
1907_______ 5,024,062
190 6
4,494.770
M iluvvkee—
190 7
1,257,925
190 6
1.229,615
St. Louis—
190 7
1,434,730
1906 ______1,065.330
Toledo—
1 90 7-......... _______
190 6
......................
Detroit—
190 7
63,500
1906
153,860
Cleveland—
190 7
..
26,589
190 0.. . . . .
30.773
Peoria—
1907_______ 473.450
190 6
539,550
Duluth—
190 7
714.290
1906
1.304.300
M ir.neapolis —
190 7
___
190 6
______
Kansas City—
190 7
______
1 9 0 6 .. .

Wheat
(bush.)
6,198,529
3,004.779
3,199,458
2,316,160

P R IM A R Y
Com .
(bush.)

M ARKETS

Oats.
(bush.)

70,149,303 43.958.558
48,648,177 39.945,607
4,039.500
4,152,450

Barley.
(push.)

Rue.
(Ovsh.)

9.519,825 1,109,650
9,454,702
748.197

6,071,700
4.569.100

7 252,000
6,879.900

657,900
448,800

4,570,362
5.700,970

22,002,645 15.145,420
15.984.015 12,915.975

1.352.400
1,297.700

231,36§
269,387

994.500
095,500

4.876,000 1.929.200
3,268,000 1,967,100

________
2,740

23.80l>
57.400

762,373
704,319

2,494,32 s1,096,200
3.489,392 1,802,031

.............-------------

503,711
294.212

3,191,995
3.113,513

260.500
317,900

8.599.960 5.304.050
7.188,400 10,594.800

18.410,942
9.175.345

34.635
53,884

_______
----------

2,781,163
55,582
2,200
2,708,227 223,070
__________

1,230.733
3.519,654

1 422,000
1,354,500

165.900
171,000

2,269,372
1,539,414

151,715
122,001

48.130.706
38.416.100

3,587.410 8.056.580 4.843.751 1 164,825
2,211.050 10,251.420 4.430.373
516.004

11,691.000
7,434,000

7,155,000 3.003,000
9,154,000 2.822.600

________

______

Total oj all—
1907_______ 8,994.546 94.722,081 126,130.776 88.576,604 26.714.930 3.507 359
1906..............8.818.198 68,059,285 97,262,881 91,096.514 25.182 399 2 332.789

The situation in the case of the seaboard receipts
appears to have been different. Here evidently the
roads did not have the advantage of a larger movement
except in special cases. At all events the grain sta­
tistics show seaboard receipts of grain of only 132.929,003 bushels, against 153,043,583 bushels in 1906.
but against 98,670,328 bushels in 1905, as per the
following.
RE CE IPTS O F FL O U R AN D G R A IN A T SE A B O A R D
Receipts of—
F lo u r ........................... .......... bbl?_

1907.
9,743,742

W h e a t.......... ............ ..
bush 42,739,714
C o m ................................. ................. 58,270.999
Oats,................................... ............... 28,018,671
Barley ......... .......... ........................ 2,656.917
R y e ______ - ..................................... 1,242,702
Total grain......... ....................... 132.929,003

JAN . 1 TO JU NE 30.

1906.
8,081.540

1905.
5,087,027

37,058,172
66,701,217
41,211.387
7,244.617
828,190

11,179,795 21,565.051
59,811,462 30,665,579
23.463,474 21.192.207
4.019.355
1.806,610
196.242
512,652

153,043.583

9S.670.32S

1904.
9,555,557

75.742.099

Southern roads quite generally had a larger cotton
traffic. The shipments overland for the six months
aggregated 953,606 bales, against 639,914 bales in
19(36 and 818,100 bales in 1905. The receipts at the
Southern out ports were 3,629.445 bales. against 2,438.426 bJes and 3,429,448 bales.

THE CHRONICLE.

A u g , 3 1907.. {

257

R E C E IPTS O F COTTON A T SO U T H E R N PO RTS FROM JA N . 1 TO JU N E 30.
Forts—
1907
G a lv eston ....... bales I 603,836
P ort Arthur, & c___
104,263
New O rleans._____
942,021
M o b ile ____________
82,289
Pensacola. <Src_____
74,336
397,644
Savannah ..............
B ru n s w ick _____
64,588
Charleston. ___
30,650
•Georgetown.. . . .
402
W ilm ington_______
71,784
N orfolk __________
225,822
Newport News. & c.
31,810

—Since Jc nuart/ 1— ----------------- -------------1906.
1904.
1903.
1902.
1905.
805,768
903,476
541.079
580,769
652.961
49,300
177,161
47.148
100.753
49,758
807,302
738,463 1.091,684
669.638
858,925
69..502
104.913
100.515
37,285
68,743
32,385
80,207
89,056
35,528
63,968
380,990
300,980
229.722
361,873
555,788
64.972
36,987
61.981
26,838
46,527
33,308
63,109
27.902
43,874
16.995
260
662
276
346
141
64.169
54,224
95,162
27,796
57,818
154,868
155.304
135.448
2S5.590
165,663
24,400
11.132
15.010
20.487
13,525

; T o t a l . . . ......... ...... .3.629.445 2,438,426 3,429.448 1,782,828 2,352,014 2,296,694

The improvement in earnings was continuous
through all the months of the year. In January and
February, however, the improvement was relatively
small. This was due to the fact that weather condi­
tions in those months in 1907 were unusually severe,
whereas in the corresponding months of 1906 the winter
had been one of the mildest on record. In March the
present year some of the roads suffered by reason of
floods, particularly in the Ohio Valley and the Middle
States, the floods at Pittsburgh having been the worst
ever experienced. We annex a summary of the month­
ly totals. The June figures, it must be remembered,
.are as yet very incomplete.
M o n th ly S u m m aries.
M o n th
M on tu
M o n th
.M onth
.M onth
.M on th

Tan
Fei»
M ch
A p ril
M ay
Ju n e

19:>7
1907
1907
1907
1907
1907

(123
(122
(118
(118
(121
( 66

road s) _
r o a d s ).
ro a d s) _
r o a d s ).
r o a d s ).
r o a d s )-

1907.

1906.

S
1 7 3 .212 .30 5
16 2 ,2 8 3 ,9 9 2
180 ,5 3 9 532
188 ,130 ,45 1
1 9 5 .9 4 3 .3 0 5
8 2 ,4 6 7 ,7 0 6

S
162 ,6 2 3 ,8 8 3
1 5 2 .555 .19 1
164 .6 4 5 .0 0 9
154 ,8 9 4 ,7 4 8
165 ,8 9 0 ,3 4 5
7 2 ,9 2 3 ,6 8 3

In c . or D e c .

%

$
4 -1 0 ,5 8 8 ,4 2 2 6.51
+ 9,7 2 8 ,8 0 1 6.05
+ 1 5 ,8 9 4 ,5 2 3 9.65
4 3 3 ,2 3 5 ,7 0 3 21.45
+ 3 0 ,0 5 2 ,9 6 0 18.12
+ 9 ,5 4 4 ,0 2 3 1 3.08
m

As far as the separate roads are concerned, the record
is one of almost uniform increases. Out of the whole
130 roads included there are only nine that have fallen
behind and in no case does the decrease reach as much
as $100,000. The increases, on the other hand, are of
enormous extent, the Pennsylvania standing at the
head of the list with a gain of $14,235,000, followed by
$11,264.161 gain by the Southern Pacific and $7,174,326
by the Atchison, from which figures the amounts taper
■down. The following furnishes a full list of the gains.
P R I N C I P A L C H A N G E S IN G R O S S E A R N I N G S J A N . 1 T O J U N E 3 0 .
In crea ses.
In crea ses.
P en n a syst (2 r o a d s ) ___ o $ 1 4 ,2 3 5 ,0 0 0 ; D u lu th M Issabe & N o rth
$87 8 ,1 9 4
•Southern P a c i f i c ________ 11,264,161 ] N orth ern C en tral
_____
870 ,4 0 0
A t c h T o p e k a & S a n ta Fe 7 ,1 7 4 ,3 2 6 St L o u is S o u th w e ste rn
8 4 5 ,4 6 0
-Ohio Burl & Q u i n c y ____
6 ,0 8 9 ,3 0 7 A tla n tic C oast L ln e v _____
822 ,2 5 0
U n ion P a c it ie _____ ______
5 ,5 4 1 ,9 9 6 K an sas C ity S ou th ern
7 5 5 ,4 0 0
R o c k Isla n d s y s t e m ____ 0 4 ,8 7 1 ,8 2 2 ( P a cific C o a s t___________
a 7 2 1 .369
'C a n a d ia n P a cific _________
4 ,4 6 5 ,2 6 9 M obile & O h i o _____
710 ,7 6 2
S t L ou is <Sc San F r a n cis c o o 4 , 4 03 ,673 C a n ad ian N o r t h e r n _____
707 ,100
.N Y C en tral & H u d R l v .
4 ,051,071 N a s h v C h a t t & SI L o u L
O70C.261
3 ,4 3 1 ,6 2 3 M inn St P aul & S S M
.N orth ern P a c llie .......... . .
6 8 3 ,7 2 0
M o K a n sas & T e x a s ____
3 ,0 2 4 ,6 3 0 W h e e lin g & L a k e E r ie . .
683 .3 9 0
•Chic M ilw & St P a u l _ - a 2 ,463,701 P h ila B a lt & W a s h . . .
664 ,8 0 0
'C h ic a g o
N o rth W e s te rn 2,4 4 9 ,079 i S e a b o a rd A ir L in e .
064 9 ,9 3 7
L ou isv ille & N a s h v i ll e ..
2 ,4 0 8 .0 4 5 N ew Y o r k O n t & W est
0 6 4 4 ,8 6 3
P h ila d e lp h ia & R c a d ln e 1. 0 2 ,3 5 9 ,2 2 4 C h ic St P a u l M inn <S: O
6 1 7 ,4 2 6
E i l e . . ________ _________ a 2 ,3 3 5 ,063 Chlcaero <5c A lto n . .
0 6 1 5 ,4 7 4
I llin o is C e n tr a l.................... -2 ,3 3 8 ,4 5 1 C en tral o f G e o rg ia .
.
567 ,331
L e h ig h V a ll e y _____ ______ a 2 ,301 ,047 T o le d o & O h io C en tral
504 ,1 5 9
G ra n d T r u n k (4 road s)
2 ,1 2 9 ,1 4 3 W e ste rn M arylan d
4 3 4 ,0 4 6
M o P a cific s y s t (2 ro a d s)
2 ,0 1 0 ,3 6 3 B essem er & L a k e E rie
384 ,807
T e x a s & P a c if ic ..................
1 ,7 7 6 ,2 4 3 C h ica g o In d & S ou th e rn
353 ,2 3 5
•Central o f N ew J e r s e v . . 0 1 ,6 9 1 ,2 8 8 N ew Y o r k C h ic & St L
3 35 ,022
H altlm ore & O h io _______
1.6 9 1 ,0 7 4 L o n ? I s la n d _______ .
0 3 0 1 ,1 8 9
: S ou th ern R a ilw a y _______
1,3 0 4 ,6 9 4 B a n g o r & A r o o s t o o k . .
c 2 9 6 ,8 1 7
G re a t N orth ern 12 ro a d s)
1 ,287.979 N ew Y o rk S usq & W e s t.
a.260,113
M ich ig a n C e n tr a l________
1,2 1 4 ,8 3 7 H o ck in g V a l l e y . . . . .
024 2 ,6 5 6
N o rfo lk & W e 3 t e r n _____
1,204 472 C h esapeak e <Sc O h io
o 2 40 ,502
B u ffa lo R o c h & P i t t s . . .
1 ,1 9 9 ,2 4 0 A la b a m a G t S ou th ern
226 ,8 0 8
■Clevc C ine C h ic & St L . _ 1,077,251 A la N O & T e x P a ? (3 rds)
2 2 1 ,9 6 3
D e n v e r & R io G ra n d e
997 ,2 7 5 W isco n sin C en tral
.
o 2 1 1,303
L a k e S h o ie & M ich S o . .
982 ,4 3 9 T e x a s C e n tra l___
.....
2 09 ,465
• C olorado & S o u t h e r n . . .
970 ,0 7 9
W a b a s h ___________________
955 ,0 5 8
T o ta l (71 roads)
S I22 ,989,205
iln te r n a t'l & Gt N o rth e rn
9 2 8 ,4 5 0 !

a Figures are for five months only.
GROSS EA RN IN G S FROM JA N U A R Y 1 TO JU NE 30.
[
Name oj Road.

1
1907.

|Increase ( + )

$
Alabama Gt Southern.
2.150.336
Ala New Orl & Tex Pac
New Orl & Northeast !
1,638.533
Alabama & Vicksburg
810,335
Vicks Shrev & Pacific
837,480
Ala Tenn & North
O20.007
A tch T op & Santa F e .
1 48.106.892
.Atlanta Birm & Atlantic
a 689,011
Atlantic Coast Line.
14.165.725
Baltimore & Ohio ___ _!
40.472,724
Bangor & A roostook . . J
a l .423,278
Bellefonte Ceutrai .
31.388




S
1.923.528

%
+ 226.808

1.610.5781
+ 27.955
+ 80,285'
730.050
723,757
+ 113,723:
a 18,232
+ 1.775
40.932.566 + 7.174.326
+ 195-006
a494.005i
+ 822.250
13.343.475
38,781.650 + 1.6 91.0 7 4
a l . 126.461
+296,817|
27.984
+ 3.404

1907.
309
196
143
189]
21 i
9,350!
458
4.333;
4.030;
482
27

Increase ( + )
1907.

Bessemer & Lake E r ie ..
Bridgeton & Saco R iver
Buffalo R o ch & P ittsb. _
Buffalo & Susquehanna
Canadian N orthern____
Canadian Pacific _____
Central o f Georgia ._ .
Central of New J e rse y ..
Chattanooga Sou th ern ..
Chesapeake & O h io____
Cherterfield & Lancaster
Chicago & A lton .
Chicago Burl & Q uincy.
Chicago Great W estern.
Chicago Ind & L o u is v ..
Chicago Ind & Southern
Chicago Milw & St Paul
Chicago & N orth W est.
Chicago St P Minn & O .
Chicago Term Transfer.
Cincinnati N orthern____
Cin New Orl & T ex Pac.
Cleve Cin Chic & St L _ .
Peoria & Eastern____
Colorado M idland______
Colorado & Southern__
Col Newb & Laurens___
Copper R ange__________
C orn w all______________
Cornwall & Lebanon__
Denver & R io G ra n de..
Detroit & M ackinac____
Detroit T ol & Ir o n to n ..
Duluth & Iron R a n g e ..
Duluth Messabe & N or.
Duluth So Shore & A tl.
Elgin Joliet & E a stern ..
Erie . .
..
______ .'.
Evansville & Terre H _ .
Fairchild & Northeast n
Fonda Johnst & G lo v ..
Georgia R R ____________
Georgia South & Florida
Grand Trunk o f Canada 1
Grand Trunk W est’n }■
Det Gr H av & Milw|
Canada A tlantic____J
Great Northern System .
Montana C en tral____
Gulf & Ship Island_____
Hocking V a lle y ...............
Illinois Central________
Internat & Gt Northern
Iowa Central___________
Kanawha & M ichigan ..
Kansas City S outhern..
Lake Erie & W e s t e r n ...
Lake Shore <Sr Mich S ou.
Lehigh V alley..................
Lexington & Eastern. . .
Long Island_______
Louisiana & A rkansas..
Louisville & N ashville..
Macon & B irm ingham ..
Manistique . _ ________
Maryland & Penna____
Michigan Central. . .
Mineral R ange________
Minneap & St L ouis____
Minn St P & S S M ____
Missouri Kansas & Tex
Mo Pacific & Iron M t__
Central Branch______
Mobile & O h io................
Nasliv Chatt & St Louis
Nevada Cal & O regon ..
Nevada C en tral_____ __
N Y Central & Hud R lv
N Y Chicago & St Louis
N Y Ontario & Western
N Y Susque & W estern.
N orfolk & W estern____
Northern C e n t r a l__ „
Northern Pacific_______
Pacific Coast....................
Pennsylvania R R Lines
East of Pitts & E r ie ..
W est o f Pitts & E r ie ..
Phila Balt & Washlngt’ n
Philadelphia & Reading
Pittsburgh & Lake Erie
Raleigh & Southport. . .
Rich Fred & P o t______
Rio Grande Southern..
R ock Island System ____
R u tland_______________
St Jos & Grand Island. _
St Louis & San Fran
fin d Chic & East 111)
St Louis Southwestern.
Seaboard Air L in e_____
Southern Indiana______
Southern Pacific___
Southern R a ilw a y .........
Texas Central___ ____
Texas & P a c ific ..............
Tidewater & W e ste rn ..
Toledo & Ohio Central.
Toledo Peoria & W este’ n
Toledo St L & W estern.
Tom bigbee V alley_____
Toronto Ham & Buffalo
Union P a cific .................
Virginia & Southwestern
Wabasli _______ _______
W est Jersey & Seashore
Western M aryland_____
W heeling & Lake E rie.
Wisconsin Central__
W rightsvilie & Tennille
Yazoo & Miss V alley. _ _

1906.
309
196
143
189
21
9,189
410
4,333
4,030
482
27

1907.

1906.

S
2,782,811
016,707
4,413,480
<7789,979
3,577.000
34,753,051
6,083,303
010,828.449
81,645
010.782,779
«29,397
05,059,808
41,302,149
4.387,195
2,859,847
1,499,498
024,066.138
32,998.989
6,596,968
692.203
479,804
4,459,416
12.439,769
1.441,921
0946,804
6,609.069
158,278
0335,072
111,308
0206.709
10,483,977
689.713
2.055,823
2,953,479
4,032,256
1,615,353
1,399,836
o 2 1 ,975.675
0895,671
9,919
0287,551
1,483,164
1,179,875

$
2,398,004
016,448
3,214,240
0636,807
2,869,900
30,287,782
5,515,972
09,137,161
71,916
010,542,277
017,515
04,444,334
35,212,842
4,212,910
2,775,477
1,146,263
021,602,437
30,549,910
5,979,542
709,684
475,761
4,422,390
11,362.518
1,461,556
0849,033
5,638.990
145,050
0271,324
110.621
0178.737
9,486,702
609,908
1,992.695
2,945.097
3,154,062
1,464,528
1,347.675
019,640,612
0855.878
9,302
0255.517
1,404,733
1,005,929

$
+ 384,807
+259
+ 1,199.240
+ 153,172
+ 707,100
+ 4,465,269
+ 567,331
+ 1,691.288
+ 9,729
+ 240,502
+ 11,882
+ 615,474
+ 6,089,307
+ 174.285
+ 84,370
+ 353.235
+ 2.463,701
+ 2,4 49,0 79
+ 617,426
— 17,481
+ 4,043
+ 37,0 2 6
+ 1,077,251
— 19,635
+ 97,771
+ 970,079
+ 13,228
+ 63,748
+ 687
+ 27,972
+ 997.275
+ 79,805
+ 63,128
+ 8,382
+ 878,194
+ 150,825
+ 52,161
+ 2,335,063
+ 39,793
+ 617
+ 32,034
+ 78,431
+ 173,946

233
21
568
281
2,554
9.055
1,899
648
105
1,827
22
970
8,824
818
591
340
7,043
7,468
1.712
102
248
336
1,983
351
336
1,858
75
82
13
26
2,532
343
684
224
242
592
229
2,151
310
33
97
307
395

233
21
568
243
370
8,776
1,878
648
105
1,827
22
970
8,514
818
591
340
7,043
7,453
1,697
102
248
336
1,983
351
336
1,646
75
82
13
26
2,470
333
684
234
185
592
229
2,151
310
33
97
307
395

21,039,376

18,910.233

+ 2,129,143

4,528

4,528

24,085,483
22,755,194
1,332,697
1.375,007
1,303.794
1,144.192
02,486,102
02,728,758
28.650.634
26,317,183
4,036.284
3.107,834
1.515,383
1,434,405
1,208,402
1,065,408
4,895,110
4,139,710
2,525.379
2,432,537
21,589,536
20.607,097
014.345,793
a 12,044,746
0255,704
0219.433
c3.551.792
c3,250.603
0499,401
0514,265
24,334,364
21,926,319
75,103
80.309
51.130
31.219
172.304
166,108
13,833,980
12,619,143
393,130
354,257
1,894.596
1.706,599
6,068.356
5,384,636
12.847,359
9,822,729
23,246.396
21,190.033
784,000
830,000
4,931,663
5.642.425
04,729,506
05,435,767
113,815
99.056
45,044
36,016
42,879,224
46,930,895
5,221,022
4,886,000
03.183,668
02,538,805
01,090,430
o l . 350.543
013,327,316 012,122,844
5,475.794
6,346,194
29,305,094
32,736,717
02,318,078
.03,039,447
directly oper ated—
69,826.849
79,141.549
640,248,000
*45,168.300
8.178.211
7,513,411
018,495,439
016.136.215
7,047.156
7,042,044
028.416
046,276
0795.524
0896,719
291,011
263,362
024,923,583 020,051.761
1.267.868
1,386,496
0589,230
0721.870

+ 1,330,289
— 42.310
+ 159,602
+ 242.656
+ 2,333,451
+ 928,450
+ 80.978
+ 142,994
+ 755,400
— 92,842
+ 982.439
+ 2,301,047
+36.271
+ 301,189
+ 14,864
+ 2.408,045
— 5,206
— 19,911
+ 6,196
+ 1,214,837
+ 38,873
+ 187,997
+ 683.720
+ 3,024,630
+ 2,056.363
— 46,000
+ 710,762
+ 706,261
+ 14.759
+ 9,028
+ 4,051,671
+335,022
+ 644,863
+ 260,113
+ 1,204.472
+ 870.400
+ 3,431,623
+ 721,369

6,039
250
307
346
4,371
1.159
558
177
827
886
1,520
1.445
92
392
226
4,336
105
78
84
1,745
140
799
2,152
3.072
6,014
388
926
1,230
144
94
3,784
523
546
239
1,876
462
5,782
137

5,974
250
307
346
4,459
1,159
558
177
827
886
1,520
1.445
92
392
187
4,206
105
78
84
1,745
140
799
2,145
3.043
5,951
388
926
1,226
144
94
3,774
5 23
540
239
1,866
462
5.781
137

+ 9,314,700
+ 4,920,300
+ 664,800
+ 2,359,224
— 5,112
+ 17,860
+ 101,195
+ 24.649
+ 4,871,822
+ 118,628
+ 132.640

3,754
2,840
706
1,000
191
94
83
180
7,857
468
312

3,698
2,840
706
1.000
191
64
83
180
7.250
468
312

017,014,993 + 4,403,673
4,354.500
+ 845,460
06.660 ,S72
+ 649,937
726,415
+ 79,689
52,029,369 + 11,264.161
27,036.993 + 1.304,694
425,409
+ 209.465
6,603.489 + 1,776.243
038,703
+ 3,889
1.844.985
+ 504.159
604,110
+ 45,411
1.975.469
+ 30.944
024.152
+ 5,312
372,623
+ 97.072
31,464,457 + 5,541,996
532.605
+ 34.820
12,322.943
+ 955,058
2.170,552
+ 156,900
2.489,325
+ 434.046
2,400.790
+ 683.390
02.854.179
+ 211.303
96.047
+ 12,716
4.780,849
+ 21,011

6.008
1,451
2,611
197
9,424
7,552
268
1,826
89
440
248
451
53
88
5,683
134
2,517
368
544
498
1,022
76
1,239

6.006
1.451
2,611
197
9,215
7.516
268
1,826
89
440
248
451
53
83
5,424
138
2,517
332
544
498
977
76
1,210

021.418,666
5.199,960
07,310.809
806,104
<763.293.530
28,341.687
634,874
8,379,732
042,592
2,349,144
649.521
2,006,413
029.464
469.695
37.006.453
567,425
13.278.001
2,327.452
2,923.371
3.084,180
03.065.482
108,763
4,801,860

989,162.646 + 125960785 196.117 193,135

Mexican Roads <not in eluded in tota Is)—
Interoceanic of M exico.
3.498.490
3.716.872
Mexican Central..............
014.144.533
012,290,559
Mexican International .
3.536,560
3,037.530
Mexican Railway .........
3,496.600
3.946.400
Mexican S o u th e rn _____
676.552
637.628
National R R of M exico.
8.459.320
7.393.925

a
b
c
d

Mileage.

1906.
Decrease (— )

Total (130 roads)____ 1.115,123,431
Net Increase (12.72% )

Mileage.

1906.
' Decrease (— )

Name of Road.

+ 218,382
+ 1,847.974
+ 499.030
+ 449.8001
+38,9241
+ 1,065.395!
j

Figures are for five months only in both years.
These totals are approxim ate, blit am ount of increase is exact.
These figures are approxim ate and are for five m onths o n ly
Figures for June 1907 partly estimated.
j

736
3,202
911
321
263
1.730;

IT!

736
3,195
884
321
263
1.730

13 J

THE CHRONICLE.

258

ITEMS ABOUT BANKS, BANKERS AND TRUST CO’S.
— The public ^ales of bank stocks this week aggregate 137
shares, of which 107 shares were sold at the Stock Exchange
and 30 shares at auction. One lot of 5 shares of trust com­
pany stock was also sold at auction. The table below, given
in our usual form, shows the actual sales of New York City
bank stocks made during the week at auction and at the
Stock Exchange. Extensive tables showing the bid and
asked quotations, deposits, surplus, &c., of banks and trust
companies in all important cities of the United States are
published monthly in the “ Bank and Quotation” section,
the August issue of which accompanies to-day’s “ Chronicle.”
Bid and asked quotations for all New York City bank and
trust company stocks are also published weekly in another
department of the paper, and will be found to-day on pages
265 and 266.
S h ares. B A N K S — N ew Y o r k .
L ow .
£107 C om m e r c e , N a t. B a n k o f - - 169
30 P a rk B a n k , N a t io n a l_______ 440
T R U S T C O M P A N Y — N ew Y o r k .
5 L a w y e r s ’ T itle In s. & T r ___ 247
x S old a t th e S to c k E x ch a n g e .

H ig h . C lose.
L a st previou s sale.
171
171
J u ly
190 7— 170
440
440
J u ly
1907— 437
247

247

M ay

1907— 250

[V o l .

lxxxy.

— Governor Hughes has signed Senator Saxe’s bill, the
object of which is to make bank shares taxable, no matter
by whom held. Trust companies holding bank shares have
heretofore claimed exemption on such shares on the ground
that, as they were paying the one per cent annual tax on
their own stock, they could not be asked to pay one per cent
also upon the bank stock held by them. Such an attitude is
now rendered out of the question, since it is distinctly
provided that “ No shares of stock of such banks and banking
associations, by whomsoever held, shall be exempt from the
tax hereby imposed.” An outline of the measure was fur­
nished in this department on May 11.
— For a West Side institution the Riverside Bank, corner
Eighth Ave. and 57th Street, this city,— which was consoli­
dated with the Bank of Discount early in the year, is making
considerable progress. Its deposits at the last bank call
reached $2,690,302 in June 1907, which contrasts with
$2,202,178 in June 1906, $1,751,354 June 1905, $1,478,218
June 1904 and $1,257,523 June 1903. The company’s cap­
ital is $100,000, surplus and profits $102,410. James T.
Wood is its executive.

— The New York Clearing House has had the amendment
to the Banking Law, to which reference was made in our
— The Title Guarantee & Trust Co. of New York moved
issue of June 22d, printed in circular form, for distribu­ its “ Manufacturers’ Branch” of Brooklyn, into the handsome
tion among the members
The bill was that of Senator Me new building recently erected next door to the old location
Manus, and provides that when the State Superintendent of at 198 Montague Street.
Here the company’s plant will
Banking shall take possession of a bank or individual banker’s have a larger and more attractive home. For a long time
property, he shall give notice thereof to all banks, trust com­ accommodations in the old Brooklyn quarters have been
panies, associations and individuals holding any assets of inadequate for this concern’s constantly growing inter-bor­
said bank or individuaal banker, which notice is to act as a ough banking, trust, title, guarantee and title insurance busi­
bar against such holders of the assets securing a lien upon the ness.
same for any payment, advance or clearance thereafter made
— The Citizens’ Trust Co., Broadway and Sumner Ave.,
Attention is being directed to the new law in view of the Brooklyn, opened a downtown branch office last Thursday
discussion of its possible effect upon deposits made by non in the old offices at 198 Montague Street, vacated by the
member banks with their clearing agents, with the view to “ Manufacturers’ Branch” of the Title Guarantee & Trust Co.
protect the latter, which deposits it is argued, would be
— Objection has been made to the use of the name United
among the assets, against which the holder is forbidden to
Peoples Trust Co. by the new New York institution now in
assert a lien, in the event of failure, for any clearance or
course of formation and which was referred to in these col­
payment thereafter made. The following is the amend­
umns last week as contemplating a Borough Park branch in
ment in full. The only new part is the lines printed in
Brooklyn. The Peoples Trust Company of Brooklyn already
italics at the end:
has
several branches in that borough and it was thought
C H A P T E R 522 .
that this similiarity in names might lead to confusion on the
A n A c t t o a m e n d th e b a n k in g la w , in r e la tio n t o th e S u p e rin te n d e n t
t a k in g possession o f ban k s o r In d iv id u a l b a n k e r ’s p r o p e r t y a n d g iv in g
part of many people. The Banking Department will not
n o t ic e th e r e o f a n d fo r b id d in g su b se q u e n t p a y m e n ts a n d c le a ra n ce s .
B e­
c a m e a law Ju n e 17 190 7, w ith th e a p p r o v a l o f th e G o v e r n o r .
P a ss e d ,
therefore permit, it is stated, the new company to organize
th r e e -fifth s b e in g p resen t.
T h e P e o p le o f the State o f N ew Y o r k , represented, in S en a te and A s s e m b ly , do
under the preposed name.

enact as follow s:
S E C T IO N 1. S e c tio n 17 o f C h a p te r 689 o f th e L a w s o f 189 2, e n title d
— Tom’s River, Ocean Co., New Jersey, is to have a trust
“ A n A c t In re la tio n t o b a n k in g c o r p o r a t io n s ,” is h e r e b y a m e n d e d so as to
r e a d as fo llo w s :
company when the present plans of the Ocean County
2
17.— Im p a irm en t o f C a p ita l.— W h e n e v e r th e S u p e rin te n d e n t sh all
Trust Co.’s organizing committee mature. The First Nation­
h a v e reason t o b e lie v e t h a t th e c a p ita l s to c k o f a n y c o r p o r a t io n o r in d iv id u a l
b a n k e r , s u b je c t t o th e p r o v is io n s o f th is c h a p t e r , is r e d u c e d b y im p a ir m e n t
al Bank, deposits $470,000, is the sole local banking institu­
o r oth erw ise b e lo w th e a m o u n t re q u ire d b y la w , o r b y its c e r tific a te o r
a r tic le s o f a s s o c ia tio n , he shall requ ire su ch c o r p o r a t io n o r In d iv id u a l
tion now. A new bank building will be erected, with safe
b a h k e r t o m a k e g o o d th e d e fic ie n c y .
H e m a y e x a m in e o r ca u se t o b e e x ­
a m in e d a n y s u ch c o r p o r a t io n t o a s ce rta in th e a m o u n t o f s u ch im p a ir m e n t
deposits vaults in conjunction with a post office, if the ar­
o r r e d u c tio n o f c a p ita l an d w h e th e r th e d e fic ie n c y has been m a d e g o o d as
re q u ire d b y h im .
T h e d ir e cto r s o f e v e r y s u ch c o r p o r a t io n u p o n w h ic h
rangement can be made with the Government. The direc­
su ch r e q u isitio n shall h a v e been m a d e shall I m m e d ia te ly g iv e n o t ic e o f such
re q u is itio n t o e a ch s t o c k h o ld e r o f th e c o r p o r a t io n , a n d o f th e a m o u n t o f
torate will consist of the following, according to the Phila­
th e assessm en t w h ic h he m u st p a y fo r th e p u r p o s e o f m a k in g g o o d such
delphia Public Ledger: Dr. R. L. Disbrow, George H. Hol­
d e fic ie n c y , b y a w ritte n o r p r in te d n o t ic e m a ile d t o su ch s t o c k h o ld e r at his
p la c e o f r e sid en ce, o r se rve d p e r s o n a lly u p o n h im .
I f a n y s t o c k h o ld e r
man, W m . H. Fischer, A . C. B. Havens, Samuel Levy,
sh all refu se o r n e g le c t t o p a y th e assessm en t s p e cifie d in s u ch n o t ic e w ith in
s ix t y d a y s fro m th e d a te t h e r e o f, th e d ir e cto r s o f su ch c o r p o r a t io n shall
George C. Van Hise, Dr. R. R. Jones, William Buhler, Harry
h a v e th e rig h t t o sell t o th e h ig h est b id d e r a t p u b lic a u c tio n th e s t o c k o f
su ch s t o c k h o ld e r , a ft e r Kivlnn p re v io u s n o t ic e o f such sale f o r t w o w eeks
C. Irons, Abram S. Pittenger and Judge M. L. Berry of
in a n e w sp a p e r o f gen eral cir c u la tio n p u b lis h e d in th e p la c e o r c o u n t y w here
su ch c o r p o r a t io n Is lo c a te d ; o r s u ch s to c k m a y be s o ld a t p r iv a te s a le , and
Tom’s River; Judge James F. Minturn, Hoboken; Dr. Ed­
w it h o u t su ch p u b lis h e d n o t ic e ; p r o v id e d , h o w e v e r , t h a t b e fo re m a k in g a
ward J. Ill, Newark; Albert A . Leroy and Charles L. Rogers,.
p r iv a t e sale th e r e o f an offe r in w r it in g t o p u rch a se su ch s t o c k sh all first be
o b t a in e d , an d a c o p y th e r e o f s e rv e d u p o n th e o w n e r o f re c o rd o f th e s to c k
Lakehurst; F. G. Stanwood, Island Heights; B. E. Eno of
s o u g h t t o b e so ld e ith er p e r s o n a lly o r b y m a ilin g a c o p y o f su ch o ffe r t o
s u ch o w n e r at his p la c e o f r e s id e n ce ; a n d if, a fte r s e r v ic e o f su ch o ffe r , such
Forked River; J. F. Stephenson and Howard Applegate,
o w n e r sh all still refu se o r n e g le c t t o p a y s u ch assessm en t w ith in t w o w eeks
fr o m th e t im e o f se r v ic e o f su ch o ffe r , th e sa id d ir e cto r s m a y a c c e p t su ch
Lakewood; Senator Geo. L. Shinn, New Egypt; Albert
o ffe r a n d sell su ch s t o c k t o th e p e rs o n o r p e rso n s m a k in g su ch o ffe r , o r t o
a n y o t h e r p ers on o r p erson s m a k in g a la rg e r o ffe r th a n th e a m o u n t n a m e d
Allen, Point Pleasant; Alfred E. Johnson, Bay Head; Colonel
In th e su ch offe r s u b m itte d t o su ch s to c k h o ld e r ; b u t su ch s t o c k shall In n o
Clarence Hodson, Philadelphia; R. F. Rutter, West Creek
e v e n t be so ld fo r a sm a ller sum th a n th e v a lu a t io n p u t on it b y th e S u p e r­
in te n d e n t In his d e te r m in a tio n an d c e r tific a te , w h ic h v a lu a tio n sh all n o t be
and I. W . Carmichael.
less th a n th e a m o u n t o f th e assessm en t c a lle d fo r an d th e n e ce s s a ry c o s ts
o f sa le.
O u t o f th e ava ils o f th e s t o c k so ld th e d ir e cto r s sh all p a y th e n e c e s ­
— Samuel McClintock Hamill, President Schenectady
s a ry co s ts o f sa le, an d th e a m o u n t o f th e assessm en t c a lle d fo r th e r e o n .
T h e b a la n c e . If a n y , sh all be p a id t o th e p e rs o n o r person s w h o se s t o c k has
Trust Co., Schenectady, N. Y ., died of typhoid fever at his
th u s b e e n s o ld .
A sale o f s to c k as herein p r o v id e d sh a ll w o rk as an a b s o lu te
c a n c e lla tio n o f th e c e r tific a te o r c e r tific a te s o f s t o c k s o ld , an d shall m ake
home last Monday. Mr. McClintock was a well-known Prince­
th e sam e n u ll and v o i d , an d a n ew ce r tific a te shall be issu ed t o th e p u rch a se r
o r p u rch a sers o f sa id s t o c k .
I f a n y su ch c o r p o r a t io n o r In d iv id u a l b a n k e r
ton ’80 man, his father for a long time having been President
sh all n e g le c t fo r s i x t y d a y s a fte r th e S u p e rin te n d e n t sh all h a v e re q u ire d
su ch d e fic ie n c y t o b e m a d e g o o d , t o c o m p ly w ith su ch r e q u e s t, th e S u p e r­
of the Lawrenceville, N. J., school.
in te n d e n t sh all r e p o rt th e fa c t t o th e A t t o r n e y -G e n e r a l, w h o sh all In stitu te
su ch a c t io n o r p r o c e e d in g a g a in st su ch c o r p o r a t io n o r in d iv id u a l b a n k e r,
— At a meeting of the Board of Directors of the Mechanics
as Is n o w a u th o r iz e d In th e case o f in s o lv e n t c o r p o r a t io n s .
I f, fr o m a n y
su ch e x a m in a t io n o r r e p o r t , th e S u p e rin te n d e n t sh all h a v e re a so n t o c o n ­
Bank of New Haven, held July 24 1907, Mr. William H.
c lu d e t h a t a n y su ch b a n k o r I n d iv id u a l Is In an u n s o u n d o r u n sa fe c o n d i­
Douglass was elected President in place of Mr. Charles S. Leete
tio n t o d o b a n k in g bu sin ess, he m a y fo rth w ith t a k e po sse ssio n o f such ban k
o r In d iv id u a l b a n k e r ’s p r o p e r t y an d bu sin ess, an d r e ta in s u ch possession
who declined a re-election and retires after twenty-four
u n til th e te r m in a tio n o f th e a c t io n o r p r o c e e d in g I n s titu te d b y th e A t t o r n e y
G en eral.
*O n taking possession o f a n y such bank or in d ivid u a l b a n k er's
years of active duties. S. Fred Strong was elected Vicep r o p e r ty and bu sin ess, the S u p erin ten d en t shall forthw ith give n o tice o f such
fa c t to a n y and all ban ks, tru st com p a n ies, a ssocia tion s and in d ivid u a ls
President and Cashier. F. W . Chatterton was elected Assist­
holding or in possession o f a n y assets o f said bank or in d ivid u a l ban ker.
N o ban k, trust c om p a n y, a sso cia tio n or individ ual know ing o f such taking
ant Cashier.
possession by the S u perin ten d en t, o r n o tified as a fo resa id , shall have a lien or
charge fo r a n y p a ym en t, advance o r clea ra n ce th ereo f ter m ade, o r lia b ility
— Opposition against using the name “ Pilgrim Trust Co.”
ther a ft r in cu rred again st a n y o f the assets o f the bank o r individ ual banker
o f w h ote assets the S u p erin ten d en t shall have ta ken p o ssession as aforesa id .
for the proposed new Boston company developed at the
S E C . 2.
T h is A c t shall ta k e e ffe c t Im m e d ia te ly .
* M a tter fo llo w in g co n s titu te s th e e m a n d m e n t.
hearing given by the special bank commission on the incor­




A itg. 3 1907.J

THE CHRONICLE.

poration of trust companies last Tuesday. The petitioners
said the capital stock of $200,000 was oversubscribed and
that there was a need among the smaller merchants for such
a company. Ex-Governor John D. Long, appearing for the
Puritan Trust Co., opposed the name chosen by the new
company. Mr. Long contended that the Puritan Trust did
the sort of business the new company proposes to do, and as
there is considerable confusion in the public mind as to Puri­
tans and Pilgrims, the similiarity in designating both com­
panies would lead to misunderstanding. The Pilgrim Trust
Company is being promoted by some of the former officers
of the Puritan Trust.
— A dispatch from Harrisburg to the Philadelphia Public
Ledger states that Auditor General Young of Pennsylvania
is asking the trust companies of the State for new reports for
the purpose of taxation for the eight months ending June 20.
This report is prepared under the provisions of the Act of
June 13 1907 known as the Moore bill. Under this Act trust
companies are liable for tax at the rate of five mills annually
on the book value of their stocks, ascertained by adding to­
gether the capital, surplus and undivided profits. They are
entitled to exemption from tax on capital, surplus and prof­
its represented by investments in stock of other corporations
doing business in Pennsylvania and paying a tax on capital
stock. Under the old Act under which trust companies have
been taxed they were required to pay a tax of five mills on
the actual value of the shares, based on the average price at
which the stock sold during the previous year. It is esti­
mated that the receipts from trust companies under the pro­
visions of the new Act will be about $250,000 less than under
the old Act. The new Act is intended to place trust com­
panies on a par with banks.
— Edmund R. Watson, President of the Northern National
Bank, Germantown Avenue and 7th Street, Philadelphia,
died last Thursday while in the swimming pool of the
Columbia Club.
— The annual convention of the Pennsylvania Bankers’
Association will be h<51d in Pittsburgh September 6th and
7th, and presided over by Joseph Wayne Jr., President of
the Association and Cashier of the Girard National Bank,
Philadelphia. Addresses will be made by Charles H. Treat,
United States Treasurer; Festus J. Wade, President Mer­
cantile Trust Co., St. Louis; John G. Reading, President
Susquehanna Trust & Safe Deposit Co. of Williamsport, and
Robert E. James, President Easton Trust Co. of Easton Pa.
— It appears to be thought that there is a possibility that
tha Farmers’ National Bank of Boyertown, Pa. (whose1re­
cent suspension was reported in these columns last week),
may resume. Receiver Schofield has not completed his
examination, however.
Morris L. Hartman, the former
Cashier, was formally placed under arrest last Wednesday,
charged with misappropriating the bank’s funds. He was
later released until the September term of court after furnish­
ing $ 10,000 bail.
— The ‘ ‘Cincinnati Commercial Tribune” reports the form­
ation of the Title Guarantee & Trust Co., capital $300,000,
by several Cincinnatians who have conducted a similar Cleve­
land company for several years. The new company, it is
stated, will be incorporated August 1st. United States
Marshall, Eugene Lewis, is likely to be President.
— The projectors of the new National Produce Bank of
Chicago have received the Comptroller’s permission to or­
ganize the bank. This newest comer in the Chicago field
will open for business late next month, temporarily at
132 East Lake Street, and have $200,000 capital and $50,000
surplus at $125 per share. Its location in the South Water
Street district is convenient to the produce merchants and
the distributing agencies of the packing-house interests, to
whom the new bank will cater, and with which it will be
identified. The officers have not yet been chosen. Those who
signed the application to the Treasury are: William A.Tilden,
President Drovers’ Deposit Nat. Bank; Edward Dickin­
son, banker and broker; Charles W . Higley, general Western
agent Hanover Fire Insurance Co.; Wm. E. Phillips, VicePresident Dolese & Shepard Co.; Homer W . McCoy of Mac­
donald, McCoy & Co.; William Wrigley Jr., chewing gum

manufacturer.
— At the annual convention of the Wisconsin State Bank­
ers’ Association, held at Milwaukee last week, John T. Sher_




259

man, Vice-President, was chosen President of the association.
A. C. Zimmerman of Wausau, Vice-President; J. H. Puellicher, Milwaukee, Secretary, and Frank Pierce of Durand,
Treasurer. There were over 200 members present at the
opening session. President F. J. Carr, in his annual ad­
dress, referred to the fact that “ we have not had a bank fail­
ure in Wisconsin in two years, and a depositor has not lost
a dollar in the State in three years.” The work of the
convention, along with other things, resulted in the adoption
of a resolution opposing asset currency, or credit-note issue,
as proposed by the committee of the American Bankers’
Association, and another resolution favoring the election
of one member from each State to the Executive Council of
the American Bankers’ Association,-instead of one mem­
ber from each State for the first 100 members besides one
member for each 200 additional members. Another resolu­
tion approved the efforts of the Executive Council to exclude
express companies from the banking business. Charles G.
Dawes of Chicago, former Comptroller of the Currency, de­
livered a noteworthy address on “ The Defects of the Sher­
man Anti-Trust Law.” The convention closed with a ban­
quet at which Lieut.-Gen. Arthur MacArthur, head of the
U .S . Army, and Congressman Henry Allen Cooper of Racine
were the principal speakers. J. W . P. Lombard, President
of the Milwaukee Bankers’ Club, was toastmaster.
— A committee to raise money with which to meet any
demands made upon the Union Savings Bank & Trust Co. of
Macon, Ga., to whose reorganization we alluded last week,
has been appointed by the board. This committee includes:
Judge Charles L. Bartlett, President-elect; T. J. Carling,
S. S. Dunlap, Walter D. Lamar and Thomas C. Burke.
— A consolidation is progressing in Port Gibson, Miss.,
where the stockholders of the Mississippi National Bank
recently voted to unite with the Mississippi Savings Bank &
Loan Co. The combined concern is to be known as the Missis­
sippi Southern Bank, under the State laws, and will com­
mence business Sept. 1 in the Mississippi National’s present
building. The stockholders of the Mississippi Savings Bank
& Loan will ratify the proposition on the 9th inst. Jacob
Bernheimer, President, and J. M. Taylor, Cashier,'of the
Mississippi National will hold the same offices in the united
company
— Gilbert H. Green, Vice-President and head of the foreign
exchange department of the Canal-Louisiana Bank & Trust
Co. of New Orleans, has resigned from the latter and accepted
the management of the Inter-State Trust & Banking Co.’s
new foreign exchange department. Mr. Green has been
engaged in the exchange business the past twenty years with
the Whitney-Central National Bank, the Canal-Louisiana
Bank & Trust Co., and other local institutions.
— The Galveston “ News” of the 21st ult. notes the failure
and closing of the Bank of Plaquemine, Plaquemine, La.,
due to an alleged shortage of $16,000 by its Cashier, J. An­
drew Gourrier. The bank suffered from a similar defalcation
of a former Cashier four years ago. It was organized in 1891
and has $50,000 capital, $31,500 surplus and profits and
about $230,000 deposits. Charles A. Brusle is President.
— The fifth annual convention of the North Dakota Bank­
ers’ Association was held in Grand Forks, N. D ., on the 22d
and 23d ult. In his annual address, President John L.
Cashel opposed “ asset currency,” favoring instead “ a stand­
ard United States bond issued exclusively as a basis for na­
tional bank circulation and United States depositories.”
— The Butte Commercial Bank, of Butte, Mont., opened
for business July 1 with an authorized capital of $500,000
and a paid-in capital of $100,000. The par value and selling
price of the shares is $100 and there is no surplus. The
officers are: B. F. White, President; Samuel A. Hall, VicePresident; Walter S. Tallant,
Cashier;
H. P. Ben­
nett, Assistant Cashier. The bank is incorporated under the
laws of the State of Montana.
— The National Bank of Commerce of Los Angeles, Cal.,
and its adjunct, the Manhattan Savings Bank, will move
within the next three months into the present quarters of the
Merchants’ National Bank, at Second and Main streets,
when the latter moves to its new home at Spring and Third
streets. The Merchants’ National is waiting for the comple­
tion of its new banking plant, which will have safe deposit
boxes.

2(>0

THE CHRONICLE.

— The Comptroller of the Clirrency has approved the
application for the conversion of the Citizens’ Bank of River­
side, Cal., into the Citizens’ National Bank of Riverside,
with a capital of $150,000. S. H. Herrick is President.
— The stockholders of the Title Guarantee & Trust Co.
at Portland, Ore., elected Charles H. Kopf to the newly cre­
ated office of Assistant Treasurer at their annual meeting
July 23. The old official staff was re-elected as follows:
J. Thorburn Ross, President; George H. Hill, Vice-President;
T. T. Burkhart, Treasurer, and John E. Atchison, Secretary.
— July 25th was the banner day for the Old National Bank
Spokane, Washington, when its deposits reached $7,103,0 0 0 , the highest figure in its history, and the largest deposits
attained by any bank there. The gain over a year ago is
$1,625,000, or 2 9.6% . When the present management took
control in 1902, deposits were only $960,000, which is a
striking contrast with the $7,103,000 now reported. The
executive staff of this bank is: D. W . Twohy, President;
Peter Larson, Vice-President, and W . D. Vincent, Cashier.
The Assistant Cashiers are: W . J. Ivommers and J. A.
Yeomans. Its capital is $500,000; surplus and undivided
profits are $174,617.
— The Canadian Bank of Commerce (head office Toronto)
announces this week the opening of a branch at Creston,
B. C., with P. B. Fowler in charge.
— The bankers of Winnipeg, Province of Manitoba, Canada,
have organized a local stock exchange. At a committee
meeting held lately , by-laws were adopted and A. M. Nanton
was elected Chairman, H. T. Champion Vice-Chairman,
W . Sanford Evans Secretary and Treasurer. The executive
committee chosen was R. T. Riley, Hugh Sutherland and
W . R. Allan. The membership of the exchange will be lim­
ited to twenty-five seats. Winnipeg’s population is 100,000.

Canadian Bank Clearings.— The clearings of the Canadian
banks for the month of July 1907 show an increase over the
same month of 1906 of 9.9% . and for the seven months
the gain reaches 9.9% .
July.
Inc. or
Dec.

1906.

$
Canada—
$
%
M ontreal_____ 123,000,000 125,253,269 — 1.8
T oronto _____ 107,062.498 96,533,252 + 10.9
W innipeg
51 .000,000 42,262.170 + 20.7
O t t a w a ______
13,058.048 11,972.212 + 9.1
V ancouver___
17,771,607 10,565.706 + 68.2
H a lifa x ______
7,705.641 + 23.4
9.509,837
Q uebec. _
_
9.692,539
8,143,894 + 19.0
Hamilton
7.745,410
7.442,431 + 4.1
St. John.
6,343,504
5.387,739 + 17.7
London ______
5.294,870 + 14.6
6.066.975
Victoria
_
5.208,912
3.849,657 + 35.3
Calgary, a ____
6,359,400
4,319,787 + 47.2
E dm onton, a . .
4,171,280
3,167,009 + 31.7
Total Canada 356,459,330 324,410,841

1907.

Inc. or
Dec.

1906.

$
860,122,578
729,840.950
320.955,081
89,095,131
104,638,274
52,944,018
58,010,591
50,915,562
37,898,082
38,527,492
31.184.733
40,862,325
26,927,765

$
859,743,142
679,520,050
246,101,505
73,067,186
65,271,600
52,268,097
51,488,332
42,527,145
33,164,202
33,003,961
23,714.399
11,398,975
31,670,009

%
+ 0.04
+ 7.4
+ 30.4
+ 21.9
+ 60.3
+ 1.3
+ 12.7
+ 19.7
+ 14.3
+ 16.7
+ 31.5

+ 9 .9 2,374,132,492 2,159,929,619

+ 9 .9

------

a N ot included in totals for m onth and seven months; comparison incomplete.

The clearings for the week ending July 27 make a very
favorable comparison with the same week of 1906, the in­
crease in the aggregate having been 15.0% .
Week ending July 27.
Clearings at—
1907.
Canada M o n t r e a l__
T oron to __
____
W innipeg_________ _
O tt a w a ............. . .
V a n c o u v e r ____
H a lifa x ..................
Q u e b e c ____________
Ham ilton
.
St. J o h n .. _ __
London . _
V ictoria_____
...
Calgary
__
..
Edm onton .
. .

1906.

Inc. or
Dec.

.

P er
Cent.

1907.

1906.

New Y o r k ___ _____________________
B o s to n ______ _____________________
Philadelphia . ______ _______________
Baltim ore________ _________________
C h ic a g o _____________________ _____
St. L o u is __ _______________________
New O rlean s....... ................................

S I ,320,166,124
117.908.749
113,568.498
24,614,919
193,784.169
45,902,782
11,062,071

S I,444,505,753
117,932,538
116,188.944
24,077.931
212,883,585
43,345,357
10,846.410

— 8.6'— 0.02
— 2.3
+ 2.2
— 8.9
+ 5.9 •
+ 2.0

Seven cities. 5 days______________
Other cities, 5 d a y s ________________

S I,827,007,312
402,748,693

$1,969,780,51S
349,004,611

— 7 .2
+ 12.5-

Total all cities. 5 d a y s ___________
All cities, 1 d a y ____________________

$2,229,756,005
475.611,219

$2,318,785,129
492,353,421

— 3 .8 .
— 3.4

Total all cities for week.................

$2,705,367,224

$2,811,138,550

— 3 .8

Our usual monthly detailed statement of transactions on
the various New York Exchanges is appended. The results
for the seven months of 1907 and 1906 are given below.
Seven Months 1906.

Seven Months 1907.
Descript'n
Par Value
or Quantity.

.4 dual
Value.

Aver.
P rice

P ar Value
or Quantity.

.4 ctual
Value.

Aver.
Price.

164.723.612
St’ k\Sh’s.
129,005.923
JVal. $11054.950.175 $10150,999,891! 91.8 $14606,446.850 $13439.151.208 92.0
R R .bondt
$230,847,400 $214,375,313 92.9 $379,279,800 $367,097,117 96.8
$1,270,000,
$1.356,889 106.8
G o v ’t bds
$479,800
$532,106 110.9
$49,986,050;
$45,603,171 96.2
State bds
$30,003,800
$27,344,479 91.1
$338,300
$670,220198.1
Bank st’ kf
$202,600
$414,682204.7
Total . . SI 1316.483.775 $10393,666,471 91.8 $15037.321.000*13853.878.605 92.1
262.355.600;
220.030,790 83.9c.368.007,250
339,019.500 90. S
Grain, bu
$14073,909.395
Tot. valu
$10932,685,971

The volume of transactions in share properties on theNew York Stock Exchange each month since Jan. 1 in 1907
and 1906 is indicated in the following:
SALES O F STOCK A T T H E N EW Y O R K STOCK EXC H A N G E .

M'th.i---------------j Number
of
l Shares.

N umber
0/
Shares.

Jan . 22.702,760 1.948.477.925 1,854.950.930 38.518.5483.513.80S.7003.333.4S1.49S.
Feb 16.470.972 1.318.394,803 1,241.478,049 21.699.800 1.968.990.600 1.831.598.764
M ch. :32.208,525 2,787,043.4502,609,820,422:19,467.684 1,729,841.900 1.591.417,290«
lstqr
April
May
June

71.382,257 6,053,916.175 5,706.250,00179,680.032 7,212,641,200 6.756.497.552
19.235,652 1,686.695.950 1,508,967,41324.330.9192.158,016.950'1.928.749.870>
15.827.245 1.346.719.4751.204.698.417,24.026.049 2,043.050.800 1.879.470.284
9,749.415 826,398.975; 740.089,460.20,340)391 1.744,464,300 1,563,947,686.

2d q r 44,812.3123.859.814,4003,453,755,290:68,697,359;5,945.532,0505.372,173,840*
6 m's 116194.5699,913.730,5759.160.005.291 148377.391 13158.173,250 12128.671,392July 12,811.354 1 .141,219,600 990,994.600 16,346.221 1.448,273.60;) 1 ,310.479.816,

The following compilation covers the clearings by months
since Jan. 1:
M ON TH LY CLEA RIN G S.

1904.

$
27.268,505
20,379,449
9,449,786
2,572,697
2,412,448
1,648,282
1,593.117
1,504,416
1,239,819
947.810
856.947
984,230
662,578

%
+ 12.2
+ 1.5
+ 24.2
+ 12.9
+ 60.0
+ 29.9
+ 36.5
+ 7.8
+ 7.4
+ 20.1
+ 86.2
+ 56.9
+ 39.6

$
25,596,646
16,666.741
6,719,042
2,235,488
1.806.454
1,723.461
1.796,142
1,263,665
1,132,304
881.822
682,490
................

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

82,248,400

71,520,084

+ 15.0

60,504,255

50,787,210

$
20,236,581
15,354,639
5,585,811
1,666.085
1,353,001
1,840,931
1.509,120
931,656
978.905
848,671
481,801

Clearings by Telegraph— Sales of Stocks, Bonds, &c.—
The subjoined table, covering clearings for the current week,
usually appears on the first page of each issue, but on account
of the length of the other tables is crowded out once a month.
The figures are received by telegraph from other leading cities.
It will be observed that, as compared with the corresponding
week of 1906, there is a decrease in the aggregate of 3 .8 % .
So far as the individual cities are concerned, New York ex­
hibits a loss of 8 .6% ; Boston, 0 .02% ; Philadelphia, 2.3 % ;
and Chicago, 8 .9 % . New Orleans records a gain of 2 .0 % ;
Baltimore, 2 .2 % ; and St. Louis, 5 .9 % .

Clearings Outside X n c York.

Clearings. Total All.
Month.
1907.

1906.

1st o r .
April .
M a y ..
June .

41,458,933,953 41,834,184,266
12,636,807,179; 12,902,156,095
12,382,112.008 13,237,374,455
11,136.390,327 12,249,457,807

1906.

1907.

%

$
$
Jan . . 15,020.747,342 16,333,604,104 — 8.1
Feb . . 11,792,953,798 12,477,037.577 — 5.5
M c h .. 14.625,282,333 13,007,090,991 + 12.4

$
5,383,076, S58
4,461.444,022
5,063,004.520

t

5,095.403.426
4,152,614,053
4,629,856,802

%
+ 5.4+ 7.4
+ 9 .*

— 0.9 14,927.475.490 j 13,894,325,875 + 7.4
— 2.1 4,969,277,555 4,358,920,528 + 14.0— 6.5 5,047,259.142! 4,444,345,376 + 1 3 .0>— 9.1 4,767.217.2921 4,433,230,940 -t-7.5

2d qu . 36.155,309,514 38.388.988 357

— 5.8 14.783,753.989 13.236,502,844 + 11.7’

6 mos 77,614.243.467 SO .223,172.623
J u l y . . 12.348.573,537 11,658,370,242

— 9.1 29.711.229.479 27.130,828,719 + 9.5*
+ 5.9 5,036.811,132 4.401,844.139 4- 14.4r

The course of bank clearingsat leading cities of the
coun­
try for the month of July and since Jan. 1in each of the last
four years is shown in the subjoined statement :
BANK

1905.

$
30,601,974
20,677,390
11,734,519
2,903,484
3,859,438
2.140,853
2,174,592
1.621,729
1,331.841
1.137,118
1,59.5,670
1,544,792
925,000




Clef rings— Returns by Telegraph
Week ending Aug. 3.

lxxxv

Seven Months.

Clearings at—
1907.

[V o l .

CL E A R IN G S

AT

LE A D IN G

CIT IE S.

— -------- -— J uly.---------------------------------- Jan. 1 to July'S 1.------------(000,000s
1907. 1906. 1905. 1904..
1907. 1906.
1905.
1904.
omitted.)
$
$
$
$
$
$
$
$
New Y o r k ________ 7.312 7.257 6.839 5.194
55,215 60 349 53.724
34,324
Chicago __________ 1,087
902
794
704
7,299 6.336
5.687
5,06G»
B o s t o n ___________
714
654
644
548
5,095 4,838
4,417
3,771
Philadelphia............
636
616
545
.503
4.371 4.491
3.934
3,19tt
St. Louis__________
268
230
227
202
1.865 1.713
1.696
1.575Pittburgh _______ 1,244
218
211
177
1.667 1.567
1.436
1.150
San F rancisco_____
183
163
148
123
1,338 996
1.004
S51
Cincinnati. _
_
127
112
102
114
\42 771
704
709
Baltimore .......
130
119
104
94
876 840
708
619'
Kansas C it y ..........
131
106
97
70
923 726
653
586C lev ela n d ________
88
75
67
59
532 474
444
396:
New Orleans____ .
68
66
78
52
562 556
544
575
M in neapolis____ .
97
75
63
56
623 515
460
398
L ou isv ille________
59
51
49
47
402 387
352
322’
«3
54
49
45
413 379
329
292’
D e t r o it ___________
M ilw au kee..............
47
39
35
30
324 277
240
226
Providence ______
34
31
30
27
236 230
213
201
44
40
38
29
327 288
250
22fc
O m a h a _____ _____
Buffalo ....................
40
35
29
26
258 225
193
18&’
St. P a u l...................
41
35
27
25
268 223
181
170'
I n d ia n a p o lis _____
37
32
31
28
244 206
192
ISO*
D e n v e r ___________
36
27
26
17
233 192
183
124
R ichm ond................
29
26
23
20
188 177
151
136:
M e m p h is ................
19
15
17
13
142 143
143
145
Seattle.......................
45
37
28
18
286 267
157
118:
H artford ________
18
18
14
13
115 108
97
R3r
Salt Lake C ity____
31
20
18
13
182 158
106
84’
Total ..................11,528 11,053 10,313
Other cities_______
821
605
534

8,247
427

Total all_______ 12,349 11,658 10,867
Outside New Y o r k . 5,037 4 ,401 4,028

8,674
3,480

84 816 87.432
78.198
5.147 4.450
3.696
89,963 91.882
34.748 31 533

55.6953.181

81,894 58.876:
28,170 24,552

A

ug.

3 1907. |

p i o nctiraVI (Com m e v cxa t^ tx g li sir 2Xcxus
(From our own correspondent.)

London, Saturday, July 20 1907.
The city has been less cheerful this week than during the
preceding fortnight, and business on the Stock Exchange has
been less active. The first cause, no doubt, is the uncer­
tainty respecting the New York Stock Exchange. The
“ see-saw” there makes observers in London doubtful, and the
American market has played so preponderant a part in the
London Stock Exchange for some years past that uncertainty
respecting Americans has a deterrent effect in all other
departments.
A second reason for the less confident opinion is the revival
•of apprehensions respecting Egypt. Arrangements have
been made, as is known already, for the voluntary winding
up of the Cassa di Sconto e di Risparmio. and it is believed
that no other serious failure is to be feared. But it is notori­
ous that several operators have gone entirely beyond their
depths and are now seriously embarrassed. It is believed
that they have sold the really good securities they held for
which there was a market in Europe. Unfortunately for
them, however, others were selling at the same time, and in
•consequence they sold at a heavy loss. The local securities
which they hold are quite unsalable. There has never been
:a market for them in Europe, and for the time being there
are no buyers in the local markets. Unless therefore as­
sistance is given to them until the marketing of the cotton
>crop begins, it is feared that not a few of these operators
will be unable to meet their differences. The matter is a
small one. They have drawn upon London, Paris, Vienna,
and so 011— chiefly, however, upon Vienna. But the losses
will be so widely distributed that they will not have much
•effect, except of course in Egypt. If, however, they are
•enabled to tide over until the cotton crop is sold, it is hoped
that money will then be plentiful enough to bring about a
recovery in Egypt.
In addition to this, the negotiations for giving assistance
to embarrassed houses in Manchester have come to nothing.
There is a general agreement, it is understood, not to press
these houses too closely in the belief that if they are given
time until the cotton in Egypt is marketed they will be able
to meet all their liabilities. But whether the agreement not
to press includes all creditors is not known.
Besides all this, the stock markets have been rather put
out by several new issues made this week, most of them prov­
ing a complete failure. The feeling in the city, and especially
amongst the banks and financial houses, is that if new issues
■could be suspended for a few months, there would be a very
great improvement on the Stock Exchange; for time would
thereby be given to absorb the stock which is now known to
"be hanging over markets. There does not seem, however,
much inclination to suspend new issues, although the Chan­
cellor of the Exchequer has decided not to bring out this
year either Irish land stock or the new Transvaal guaranteed
loan. Early this week an Indian railway issue guaranteed
by the Indian Government and bearing 3J^% interest was
brought out. But it is believed that only 12% of the
amount offered was taken by the general public, so that the
underwriters have to pay for 88% . The reason generally
assigned for the failure of the issue is that the price was fixed
•entirely too high. One or two other less important issues
have also been failures. Just as the week draws to a close
there is an offering of the South Manchurian Railway. It
is guaranteed by the Japanese Government, it bears 5 % in­
terest, the price is 97, and the amount is 4 millions sterling.
The money is to be applied to reconstructing, improving
and fully equipping the South Manchurian Railway, the line,
that is to say, which was ceded to Japan by the Portsmouth
treaty. The line will connect with the Korean and the Chi­
nese railways, and arrangements have been entered into with
the Russian Siberian Railway for the through carriage of
both passengers and goods. The issue is underwritten, and,
•while everybody admits the high character of the loan, there is
a strong feeling that it would have been better if the issue had
been postponed for some time. [The loan proved a failure,
as noted in our article on the “ Financial Situation” last
Saturday.— Ed.] Meanwhile, trade continues exceedingly
■good, and, although crop prospects are not satisfactory, they
are decidedly better than they were expected to be a little
while ago.
Money has been fairly easy during the week, for the Bank
of England is obtaining a very considerable amount of gold,
and the hope is strong that the reserve will be very consid­
erably strengthened before the autumn begins. Further­
more. it is understood that the Japanese financial authorities
have let out a good deal of money— perhaps to some extent
to prepare the market for the South Manchurian Railway
issue, but mainly no doubt because Japan has to pay large
amounts every now and then in Europe. The feeling is
almost universal that no change now will be made in the rate
o f the Bank of England, as there is too much uncertainty
respecting the money market in New York and there is a




261

THE CHRONICLE

general belief that money will be both scarce and dear in
Germany. According to the report of the Imperial Bank
for the week ended the 15th of this month, the return of
notes had not. been sufficient to relieve the Bank from the
necessity of paying the duty of 5 % on a portion of its notes,
amounting roughly to 1% millions sterling. No doubt there
will be a further reduction in the circulation this week, but
the following week will be the end of the month, and it re­
mains to be seen whether that will not bring a considerable
increase in the circulation. At all events, the feeling is
universal at home and abroad that money will continue very
scarce and dear in Germany, and that consequently the Bank
of England and the Bank of France will both maintain their
rates of discount unchanged.
The India Council offered for tender on Wednesday 80 lacs,
and the applications exceeded 590 lacs, at prices ranging
from Is. 4d. to Is. 4 l-16d. per rupee. Applicants for bills
at Is. 4 l-32d. and for telegraphic transfers at Is. 4 l-16d.
per rupee were allotted about 18% of the amounts applied for.
The following return shows the; position of the Bank of
England, the Bank rate of discount, the price of consols, & c.,
compared with the last four years:
1906.
July 18.

1907.
July 17.

£

£

1905.
July 19.
£
29,989,150
10,756,678
44,338,873
16.752.444
29,642.689
26,736,492
38,275,642

1904.
July 20.

1903.
July 22.

£

£

Circulation............... 29,598,225 29,907,555
28.601.365 29,468.090
Public deposits____ 7,929,058
9,044,279
7.042,301
7,238,163
Other deposits____ 47,847,112 43,498,242
40,844,216 41 244,279
Governm 't securities 16,584,520 15,977,133
16.403,766 15,342,840
25,211.552 26.016,874
Other securities____ 32,837,054 28,796,208
Reserve ,notes*coin 23,095,995 25,874,437
24.331.331 25,262,601
Coin&bull. .bothdep 35,561,654 37,331,992
34,482,696 38,555,691
Prop, reserve to lia­
50 %
bilities_____ p. c.
46
48 7-16
52
49 H
Bank rate_____p. c.
4
3
3
2'A
m
87 13-16
90 1-16
88 11-16
92
Consols, 2 Yt p. c __
84?;J
Silver . _ _________
31% d.
27>^d.
26% d'
3 0 . d.
25 5-16d.
Clear.-house returns 269,313,000 257,070,000 259,447.000 216,260,000 174,145,000

The rates for money have been as follows:
Bank of England rate_______
Oven Market rale—
Bank bills— 3 m onths____
— 4 m onths____
— 6 m onths____
Trade bills— 3 m onths____
— 4 months____
Interest allowed lor deposits—
By joint-stock banks_____
B y discount houses:
A t call . . . ____________
7 to 14 days____________

July 19.
4
4 9-16 @ 4 %
3% @ 3%
4H
3% @4
4

July 12.
4

July 5.
4

3 9-16
3%
3 11-16 3 H @ 3 %
4
3% @ 4
4
4
4 @ 4%
4 @ 4 \i

June 28.
4
3 % @ 3 3i'
3%
4& 4H
4 @4*4
4 @ .4 y

2K

214

2y

2y

2V2
2M

2y
2H

2 VS

2%
2U

2Vi
The Bank rates of discount and open market rates at the
chief Continental cities have been as follows:

July 19.
J uly 12.
July 5.
June 2S.
Bank Open
Bank Open
Bank Open
Bank Open
Rales of
Rate. Market. Rate. Market. Rate. Market. Rate. Market.
Interest at—
3y
P a r is ____________ . . .
3y
4%
3y
3%
3%
3M
zy
Berlin........... ..........
5y
5y
4y
4y
534
4%
5y
4y
H am bu rg............... —
4y
5y
5y
5H
5y
4y
4H
4K>
Frankfort . . __ - - - 5 M 4 9-16
4 7-16
4 7-16
r>y 4 13-16
sy
m
A m s te rd a m _____ . . .
5
5
5
4%
5
4%
5
4H
414
Brussels ________ . . .
4%
5
4y
5
5
5
4H
Vienna ............. ..
4%
4 9-16
4 7-16
5
5
5
5
4y
7
7
St. Petersburg____ . . .
7
7
4~
4
4y
4
Madrid. ................... . . .
4y
4
4V£
4y
r>y
Copenhagen ______. . .
6
6
6
6
5?<
5H
m

..

Messrs. Pixley & Abell write as follows under date of
July 18:
C O L D .— 1 he arrivals this week were larger than anticipated, and, after satisfying
the few outside orders, the Bank received about £350,000. Since our last the Rank
has received £640,000, of which £250,000 has been released b y the India Council
and the rest is in bars, and has lo s t£80,000 to Italy and £5.000 to Paris. Next week
we expect £400,000 from South Africa. Arrivals— Cape, £4s9.000; India. £*50,000;
total. £549,000. Shipments— B om bay, £51,200; Colom bo. £1.000; Calcutta, £ 2 5 ,000; total, £77,200.
S IL V E R .— The market has been an im proving one. and we close 5-16d. higher
on the week, at 3 1 % d . The feature has been the steady demand for India, and,
with some speculative buying, based on the G overnm ent’s reauirements, the ten­
dency has been firm. One im portant feature has been the gradual absorption o f
cash slver, which lias been at a premium over forward. The Indian price is Rs. 79V&
per 100 Tolahs. Arrivals— New Y o rk , £180,000. Shipments— Port Said, £ 1 ,600;
Bom bay, £11,100; Calcutta, £159,000: total, £171,700.
M EXICAN D O L L A R S .— There have been some transactions in these coin at
their melting value.

The quotations for bullion are reported as follows:
G O LD .
J u ly \ § . July 12. |
S IL V E R .
July 19.
London Standard.
s. d.
s. d. | London Standard.
d.
Bar gold, fine, o z _____ 77 o y - 77 9% !Bar silver, fine, o z ____31%
U. S. gold coin, o z __ _ 76 5
76 5 ! “ 2m o. delivery, o z . 31%
German gold coin, o z . . 76 5
76 5 |Cake silver, o z _______ 33 11-16
French gold coin, o z . . 76 5
76 5 IMexican dollars______ nom.
Japanese yen, o z _____ 76 5
76 5 1

July 12.
d.
31 1-16
31 1-16
33%
nom.

The following shows the imports of cereal produce into
the United Kingdom during the season to date, compared
with previous seasons:
IM PO RTS.
Forty-six weeks.
1906-07.
1905-06.
1904-05.
1903-04.1
Im ports of w heat____________ cw t.82,474,952 81.601,790 90,810,200
81,344.236
Barley __________________ _______ -18,407,434 19,203,500 19,610,800 28,975,126
O ats______________________________ 9.377,214 13,756,200 14.681,900 13,376,894
Peas______________________________ 1,556,050
1,513,735 1,928,918
2,111,050
B e a n s ____________________ _____ 385,920
560,370
1,366,870
1,945,758
Indianeorn.................. ........................43,191,570 40,435,400 35,881,350
41,829,567
Flour ___________________________ 12,042,172 12,972,470
9,872,920
17,581.743

Supplies available for consumption (exclusive of stock on
September 1):
1906-07.
W h eatim ported........................ cw t.82,474,952
Im ports o f flour__________________ 12,042.172
Sales of hom e-grown_____________ 33,572,958

1905-06.
80,601,790
12,972,470
27,525,528

Total ............................................128,090,082 122,099,788
Average price wheat, w eek..............
32s. Od.
30s. 5d.
Average price, season.......................
27s. 4d.
28s. 8d.

1904-05.
90,810,200
9,872,920
13,498,141

1903-04.
81.344,236
17,581,743
16,529,789

114,181,261 115,455,7o8
32s. 2d.
26s. 6d.
30s. 8d.
27s. id .

The following shows the quantities ofwheat, flour and
maize afloat to the United Kingdom:
W h e a t . ...............................
qrs
Flour, equal t o ....................
qrs
Maize .......................................... qrs

This week.
2 620,000
135 000
1

Last iceck.
1906.
1905. '
2,740,000 2,524,000
2.S20.000
180,000
151.000
105.000
1 010 000 955,000 1 ,0 2 0 ,0 0 0

262

THE CHRONICLE.
Legal Tenders.

E n g lis h F in a n c ia l M a r k e t s — P e r C a b le .
T h e d a ily c lo s in g q u o t a t io n s f o r s e c u r it ie s ,

& c ., a t L o n d o n

as r e p o r te d b y c a b le h a v e b e e n as fo llo w s th e p a s t w e e k :
London,
Week ending A u g. 2.
Sat.
M on.
Tues. W ed.
Thurs. F rl.
S*lver, per o z _____________ d . 31 13-16 31 15-16 31 15-16 31 15-16 32 1-16 32%
Consols, new, 2% per cen ts._ 83% 82 11-16 82%
83 1-16 82%
82 11-16
F oraccou n t______________ 8 3 ^ 82 ll-1 6 c8 3
83% 82 13-16 82 13-16
French rentes (In P a r is )..fr . 95.12% 95.12% 95.10 95.30
95.07% 95.00
74
74%
74 74
73%
Russian Imperial 4s._-______ 74
do
New 5s_____ 83%
83%
83%
83% 83%
S3%
Amalgamated Copper C o____ 9434
95
92%
90 87>2
86%
b Anaconda Mining C o______ 11%
11%
11%
11% 11%
11%
Atchison Topeka & Santa Fe 96%
97
95%
95%
95
94%
Preferred . . . ......... .............95%
95%
95%
95 . 95%
95
Baltimore & O h io . . ................ 100%
101%
‘ 100%
100%
100
100
Preferred ________ _______ 89
89
89
89 89
89
Canadian Pacific____________ 180%
181%
180%
180%
179%
179%
36%
36%
36% 36%
36%
Chesapeake & O hio________ 36%
Chicago Great W estern_____ 11%
12
11%
11% 11%
11%
Chicago Mliw. & St. P a u l...1 3 8 %
139
138
137
136
136
Denver & R io Grande, c o m .. 28%
28%
28
28%
29
28%
Preferred ________________ 73
72%
73
72%
73
72%
24
23%
24 24%
24%
Erie, com m on........................... 23%
First p r e fe r r e d .................61%
61%
61
61
61
61%
Second preferred.......... .. 41%
42%
42
43
43
42
148
147%
dl4 3 %
144
144
niinois Central......... ............ .148
Louisville & Nashville______ 120
120%
120
116%
116
145%
21%
21%
20%
21
21
M exican Central____________ 21%
Missouri Kansas & T ex., com . 38%
40%
39%
41
39
,39%
- Preferred ............................. 68%
69
69
69
69
69
National R R . of M exico____ 52
55
52
52
52
52
N. Y . Cent. & H ud. R i v e r . . 116
116%
115%
115
114
114%
N. Y . Ont. & Western, c o m . 37
37%
37%
37
36%
36%
Norfolk & W estern, com ____77%
77%
76%
76%
76%
76
• Preferred ________________ 82%
S2%
82%
82%
82%
82%
Northern Pacific____________ 139
139%
137%
137%
134%
134%
a Pennsylvania_____________ 63%
63%
63
63
62%
63
a Reading C o....... ................... 54%
55
53%
53%
52%
53
a First preferred__________41%
41%
41%
41%
41%
41%
a Second preferred.............. 41
41
41
41
41
41
R ock Island C o.........................22%
22%
22
22
21%
21%
Southern Pacific____________ 92%
93%
92
93
91%
92%
Southern Railway, com m on . 20
20
19%
19%
19%
19%
Preferred _________ _______ 65
66
65
65
65
66
150%
147%
147%
146%
147%
Union Pacific, com m on_____ 150
Preferred ________________86%
86%
86
86
86
86
U . S. Steel Corp., c o m m o n .. 38%
38%
37%
37%
36%
36%
Preferred .............................103%
103%.
103
103%
103
103
Wabash ........................... ........ 13%
14
13%
13%
13%
14
Preferred ________________25%
25%
26
25%
25%
25%
Extended 4s_____________ 63
63
63
63
63
63
a Price per share.

6 £ sterling,

[V © L .

c F or Septem ber account, d E x-dividend.

BANK NOTES— CHANGES IN TOTALS OF, AND IN
DEPOSITED BONDS, &c.— We give below tables which
show all the monthly changes in bank notes and in bonds
and legal tenders on deposit. The statement for July 1906
will be found in our issue of Aug. 4 1906, page 250.

A pril 1.

M a y 1.

June 1.

LXXXV.

July 1.

Aug. 1.

Deposits by—
S
$
$
$ '
$
Insolvent banks. _______
1,119,171 1,096,371 1,028,221
982,271
949,871
Liquidating b a n k s . ____ 15,681,220 15,749,488 15,365,637 15,490,422 15,194,285R educing under A ct of
1874* ___________ ______ 32,778,609 32,863,210 31,932,118 31,745,116 32,228,440
49,579,000 49,709,069 48,325,976 48,217,809 48,372,596
*A ct of June 20 1874 and July 12 1882.

National Banks.— The following information regarding
national banks is from the Treasury Department:
A P P L IC A T IO N S T O C O N V E R T IN T O N A T IO N A L B A N K S
APPROVED.
.July 24 to J u ly 25.
S ta te B a n k o f L a w r e n c e , N e b r a s k a , in t o th e " F i r s t N a tio n a l B a n k o f
L a w r e n c e .”
C a p ita l, $ 2 5 ,0 0 0 .
T h e B a n k o f A la m a n c e , G ra h a m , N o rth C a ro lin a , In to “ T h e N a tio n a l
B a n k o f A la m a n c e a t G ra h a m .”
C a p ita l, $ 5 0 ,0 0 0 .
N A T IO N A L B A N K S O R G A N IZ E D .
C ertifica tes issu ed fro m J u ly 22 1907 to J u ly 26 1 90 7, in clu siv e.
8 .8 0 5 — T h e F irst N a tio n a l B a n k o f C a rlisle, I n d ia n a . C a p ita l, $ 3 5 ,0 0 0 .
W illia m A . L ls m a n , P re s id e n t; J . F ra n k A lu m b a u g h a n d W illia m
M . T r im b le , V ic e -P r e s id e n ts ; D e L a sk ie J . M ath es, C ashier; H a rry
T . A lu m b a u g h , A s s is ta n t C ashier.
8 .8 0 6 — F irst N a tio n a l B a n k o f O ly p h a n t , P e n n s y lv a n ia . C a p ita l, $ 1 0 0 ,00 0 . E d w a r d S. J o n e s , P re sid e n t; B . J . L y n c h , V ic e -P r e s id e n t;
E . N . Sh irer, C ashier. C o n v e rsio n o f th e C itize n s’ B a n k o f O ly ­
p h a n t.
8 .8 0 7 — T h e F irst N a tio n a l B a n k o f O a k v ille , T e x a s . C a p ita l, $ 2 5 ,0 0 0 .
T h o r n to n
H a m ilto n , P re s id e n t; L ee
H in to n ,
V ic e -P r e s id e n t;
D . T . B la ir, C a shier.
8 .8 0 8 — T h e First N a tio n a l B a n k o f S c o tt C ity , K a n s a s .
(P o s t O ffic e ,
S c o t t , K a n s a s .)
C a p ita l, $ 2 5 ,0 0 0 . A . S . C h ris ty , P r e s id e n t;
R . B . C h ris ty , C ashier; H . S. R e c t o r , A s s is ta n t C ashier.
8 .8 0 9 — T h e F irst N a tio n a l B a n k o f W a r n e r , In d ia n T e r r ito r y .
C a p ita l,
$ 2 5 ,0 0 0 .
T . G . O v e rs tr e e t P r e s id e n t; J o h n S h in n , V ic e -P r e s i­
d e n t; H . C. W y n n e , C ashier.
8 .8 1 0 — T h e First N a tio n a l B a n k o f M an sfield , P e n n s y lv a n ia . C a p ita l,
$ 5 0 ,0 0 0 .
C h arles S . R o s s , P re s id e n t; W a rre n D . R o s e , V ic e -P r e s i­
d e n t; W . W . Allen.. C a sh ier.
L IQ U ID A T IO N S .
6 ,4 4 1 — T h e T h ir t y -F o u r t h S treet N a tio n a l B a n k o f N ew Y o r k , N e w Y o r k ,
w a s p la ce d in v o lu n t a r y liq u id a tio n J u ly 22 1907.
7 7 2 — T h e F o u rth N a tio n a l B a n k o f P r o v id e n c e , R h o d e Is la n d , w as p la c e d
in v o lu n t a r y liq u id a tio n J u ly 17, 190 7.

DIVIDENDS.
The following shows all the dividends announced for the
future by all large or important corporations:
Dividends announced this week are printed in italics.
Name ot Company.

P er
Cent.

When
Payable.

Books Closed.
D ays Inclusive.

National Bank Notes— Total Alloat—
Am ount afloat July 1 1907_________________________ ______________ _____ $603,788,690
Am ount issued during July_________________________________ $5,843,590
Am ount retired during J u l y ________________________________ 6,236,394
392,804

Railroads (Steam ).
Baltim ore Chesapeake & Atlantic, pref.
Sept.
2
1 Holders of rec. Aug. 20
Baltim ore & Ohio, com m on______
Sept.
to
3
i Aug. 18
Sept 2
Sept.
Preferred ____________ ________
2
to
Sept 2
i Aug. 18
Boston & Maine, com m on (q u a r.)..
1 Holders of rec. Sept. 13
1 % Oct.
Preferred ______________________
Sept.
3
a Holders of rec. Aug. 15
Buffalo Rochester & Pittsburgh, com m on..
2% Aug. 15 Holders o f rec. Aug
5
Aug. 15 Holders o f rec. Aug. 5
Preferred_________________________
3
Chicago M ilw. & St. Paul, com. and pref.
3% Oct.
a Holders of rec. Aug 21
3% Aug. 20 Holders of rec. Aug. 3
Chic. St Paul M. & O ., com . and p r e f..
Sept.
2
Cleve. Cin. Chic. & St. L ., com m on____
3 Holders of rec. Julv 31
Cleve. & Pittsburgh, orig. guar, (guar.)___
2 Holders of rec. A ug. 10
1% Sept.
Sept.
Special guaranteed betterment (quar.)_ _
1
2 Holders of rec. Aug. 10
Illinois Central (No. 105)_____________
3% Aug. 31 Aug. 2
to
Aug. 21
3
Aug. 12 Xuly 23
Louisville & Nashville__________________
to
Aug. 12
Aug. 12 Aug. 6
1
to
National R R . of M exico, preferred____
Aug. 11
Aug. 16 Holders of rec. Aug. 2
2
Norfolk & Western, adj. preferred.
Oswego & Syracuse, guaranteed___
to
Aug. 19
4% Aug. 20 Aug. 11
Peoria & Bureau Valley___________
Aug. 10 Aug. 2
4
to
Aug. 11
Aug. 15 Holders of rec. Aug. S
Pitts. Cin. Chic. & St. Louis, co m m o n ..
2
R om e W atertown & Ogdensburg (quar.)
to
Aug. 15
1% Aug. 15 Aug. 1
Southern P acific, common (g u a r .)..
1%
V a n d alia__________________________
2% Aug. 16 Holders of rec. Aug. 5
Street Railways.
Boston Elevated____________________
Aug. 15 Aug. 1
3
to
Aug. 15
Chattanooga Railways, pref. (quar.) . .
1 Holders o f rec. Aug. 201% Sept.
Philadelphia Com pany, Pittsburgh, p r e f..
2 Holders of rec. Aug. 10
2% Sept.
Twin C ity R ap. T r., M inn., com . (qu.)_
1% Aug. 15 Holders o f rec. July 31
M iscellaneous.
Amalgam ated Copper (qu ar.)__________
2
Aug. 26 July 26
to
Aug. 11
American Caramel, preferred (quar.) . .
2
Sept. 30
Oct.
to
1 Sept. 11
Aug. 20 Aug. 15
Aug. 20
Am erican Chicle, com mon (m o n th ly )..
1
to
Am . G raphophone, pref. (qu.) (No. 4 9 ).
1% Aug. 15 Holders o f rec. Aug. 1
Sept. 30
Am erican Radiator, common (guar.)_____
1
to
Sept. 30 Sept. 22
Preferred (q,uar.) ................ ................... ..
to
Aug. 15
1% Aug. 15 Aug. 9
2 Aug. 18
to
Sept.
Am erican Shipbuilding, common (quar.)
1
____
to
2 Aug. 18
Sept.
Common, extra__________________
2
British Columbia Copper (q u a r .)..
4 Aug. 17
to
Sept 4
25c. Sept.
Extra ______________________. . . .
4, Aug. 17
to
Sept 4
15c. Sept.
Cambria Steel_____________________
1% Aug. 15 Holders of rec. July 31
to
Casein Co., pref. (qu ar.) (N o. 2 9 )..
Aug. 10 Aug. 1
Aug. 9
2
to
duPont(E.I.)deNem oursPow .,com . (quar)
Sept. 15
1% Sept. 14 Sept. 6
llS ept. 1
Eastman Kodak of N . J ., common (quar.)
to
2% Oct.
Sept, 15
Common, e x tr a __________________
Oct.
1 Sept. 1
to
5
Sept. 15
Preferred (quar.)_________________
1 S ip t. 1
to
Sept. 15
1% Oct.
General Chemical. common......... ........
Sept.
3 Aug. 25
to
Sept. 3
2
Jefferson & Clearfield Coal & Iron, pref. .
2% Aug. 15 Holders o f rec. Aug. 5
Kansas City Stock Yards (quar.)________
1 Holders of rec. July 15a
1% Aug.
Sept.
Mahoning Investment C o.............................
3 Holders o f rec. Aug. 20
2
Montreal Light, H eat & Power (qu ar.).
1% Aug. 15 Holders of rec. July 31
National Carbon, pref. (quar.)________
to
Aug. 15
1% Aug. 15 Aug. 6
l % o Sept.
New England C otton Yarn, com . (quar.)
3 Aug. 16
Sept. 2
to
New England Telep. & Teleg. ( q u a r .) ...
Aug. 14
1% Aug. 15 Aug. 1
to
50c. Aug. 31 Holders o f rec. Aug. 15
Newhouse Mines & Smelters (qu ar.)____
N. Y. & Queens El. Lt. <fc P ow ., pref._
2% IAug. 10 Aug. l
Aug 11
to
Aug.
1
New York & Richm ond Gas___________
71 Holders of rec. Aug. 1
North American Co. (quar.) (No. 1 9 ) ..
2 jHolders of rec. Aug. 15
1% Sept.
Peoplc's Gas Light & Coke (quar.)__
Aug. 26
1% •\ug. 26| Aug. 11
to
1% Vug. 28 Aug. 8
Aug. 27
Pressed Steel Car, pref. (quar.) (N o. 34)
to
P rocter & Gamble, com m on (qu ar.)___
3
Vug. 15 Holders o f rec. July 31
Pullman Co. (quar.) (No. 162)________
2
!Allg. lol Holders of rec. July 31
United Bank N ote Corp., com . (q u a r.).
1
Vug. 15 Aug. 2
Aug. 15
to
United Copper, com m on (qu ar.)______
Aug. 6
to
6j July 25
1% ! Aug.
U. S. Cast Iron Pipe & F d ry .,co m .(q u .)
to
Sept. 2
2 Aug. 11
1
'Sept.
Preferred (quar.) (N o. 2 7 )______
to
Sept. <>
1% Sept.
21 Aug. 11
XJ. S. Steel Corp., common (quar.) (N o .lo )
to
Sept. 30 Sept. 12
Sept. 30
1
Preferred (quar.) (N o. 2 5 )_______
to
Aug. 30
i % ; Aug. 30] Aug. 8
Welsbach Company (annual)_______ ____________________________________________
2 'Holders of rec. Aug. 21
2
1Sept.
a Transfer books not closed. 6 Declared fj% payable in quarterly installments.

Am ount of bank notes afloat August 1 1907____________________________$603,395,886
Legal-Tender Notes—
Am ount on deposit to redeem national bank notes J u ly 1 1907______ $48,217,809
Am ount deposited during July______________________________ $2,658,364
Am ount of bank notes redeemable in July.................................. 2,503,577
154,787

Auction Sales.— Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H. Muller & Son:

Bonds and Legal-Tenders on Deposit for
Bank Circulation.

Circulation Afloat Under

1906-07.

July
June
May
April
M ch.
Feb.
Jan.
D ec.
N ov.
O ct.
Sept.
A ug.

31......... ..
30________
3 1 ________
30________
30________
28________
31________
31_________
3 0 ...............
3 1 . ..............
29..... ..........
31................

Bonds.

LegalTenders.

Bonds'.'

LeqalTenders.

Total.

$
558.582.550
558,442,910
556,937,300
553,199,050
550,137,900
552,955,950
553.253.550
551,263,840
549,750,830
539,653,180
530,772,270
526,944,030

$
48,372,596
48,217,809
48,325,976
49,709,069
49,579,000
46,605,649
46,498,995
46,882,385
46,399,102
46,238,816
46,134,184
45,413,143

$
555,023,290
555,570,881
553,614 574
550,204,771
547,633,063
549,737,373
549,698,547
549,280,084
546,981,447
536,933,169
527,768,924
524,439,160

$
48,372,596
48,217,809
48,325,976
49,709,069
49,579,000
46,605,649
46,498,995
46,882,385
46,399,102
46,238,816
46,134,184
45,413,143

$
603,395,886
603,788,690
601,940,550
599,913,840
597,212,063
596,343,022
596,197,569
596,162,469
593,380,549
583,171,985
573,903,108
569,852,303

For full explanation of the above table see the issue of
Dec. 14 1901, page 1232, the first item in Financial Situa­
tion. The following shows the amount of each class of
bonds held against national bank circulation and to secure
public moneys in national bank depositories on July 31.
XJ. S. Bonds Held July 31 1907 to Secure
Bonds on Deposit
July 31 1907.

Bank
Circulation.

2 per cents, Panama Canal______
4 per cents, funded 1907. - ......... ..
4 per cents, 1895, due 1925_____
3 per cents, 1908-1918 ..................
2 per cents, consols 1930 _______
3.65s, District of Columbia, 1924
State, city and railroad b o n d s ...
Hawaiian Island bonds__________
Philippine loan__________________
Porto R ic o .........................................

$16,827,580
12,500
8,482,900
4,882,620
528,376,950

Total on deposit July 31 1907..

$558,582,550

Public Deposits
in Banks.

Total
Held.

$12,833
244
5,940
7,799
66,052
1,088.
62,491
1,713
9,644
730

$29,661,380
256,500
14,423,650
12,681,620
594,429,000
1,088,000
62,491,885
1.713.000
9.644.000
730,000

$168,536,4851

The foregoing does not include the bonds held
York Sub-Treasury against deposits in banks.
The following shows the amount of national
afloat and the amount of legal-tender deposits
Aug. 1 and their increase or decrease during
of June.

$727,119,035

in the New
bank notes
July 1 and
the month

Am ount on deposit to redeem national bank notes August 1 1907____ $48,372,596

The portion of legal-tenders deposited (1) by banks be­
coming insolvent, (2) by banks going into voluntary liqui­
dation and (3) by banks reducing or retiring their circulation,
was as follows on the first of each of the last five months:




10 E n g le w o o d H y g e la I c e C o . . 25
30 N a tio n a l P a rk B a n k ............... 440
40|E sco M fg. C o _______ $25 p e r share
5 L a w y e r s T itle In s . & T r .C o .2 4 7
50 L a M a y a V a lle y L d . & I m p .
C o ......................... ....................... 58

B on d s.
$15 ,0 0 0 P a rk & T llfo r d D e b . 6s
1936. J . & D -------9 2 % - 9 3 % & !n t.
$ 2 0 0,00 0 A la sk a M erca n tile Co.
D e b . 6s.
192 2. $15 0 ,0 0 0 w ith
N ov.
1903
co u p o n s
and
$5 0 ,0 0 0
w ith
N ov.
1906
co u p o u s a t t a c h e d _______ $150 lo t

AU G . 3 1907 J

THE CHRONICLE.

Statement of New York City Clearing-House Banks.—
The following statement shows the condition of the New
1 ork City Clearing-House banks for the week ending July 27.
It should be distinctly understood that as to all items
except capital and surplus the figures are the averages of the
daily results, not the totals at the end of the week. In
other words, in reporting loans and deposits and holdings of
specie and legal tenders, the practice is to take the aggre­
gate of the amounts for the several days of the week and
divide this aggregate by the number of days.
W e omit two ciphers (00) in all cases.
Banks.
00* omitted.

Capital.

Surplus.

Bank o f N. Y _ .
Manhattan Co.
M erch ants'____
M ech an ics'____
A m e r ic a ______
Phcuix ______
City ....................
C h e m ic a l_____
Merchants' E x .
G allatin_______
Butch. <fc D rov.
Mech. &Traders'
G re e n w ic h ____
Am er. E x c h __
Com m erce_____
M ercantile____
Pacific _______
C hatham ______
P e o p le 's ______
N orth Am erica.
H a n ov er ...........
Citizens’ C e n t..
N a ss a u _______
Market & Fu lt.
Metropolitan . .
Corn Exchange
O rie n ta l...........
Im p. & Traders'
T a r k _____ ____
East R i v e r ____
F o u r t h ..............
S e c o n d ______
F i r s t __________
Irving Nat. E x .
B o w e r y ______
N. Y. C o u n ty ..
Germ an-Amer .
C h a s e ______
F ifth A v en u e..
G erm an R x c h ..
G erm an ia_____
Lincoln ...........
Garfield_______
Fifth ..................
M etrop olis____
West S i d e . . ___
Seaboard______
1st Nat., Bldyn.
L ib e r t y ..............
N Y . Prod. Ex.
N ew Amsterdam
State __________
14th Street____

$
2,000,0
2,060,0
2,000,0
3,000,0
1,500,0
1,000,0
25,000,0
3,000,0
600,0
1,000,0
300,0
2,000,0
500,0
5,000,0
25,000,0
3,000,0
500,0
450,0
200,0
2,000,0
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3,000,0
750,0
1,500,0
3.000,0
250,0
3,000,0
500,0
10,000,0
2,000,0
250,0
200,0
750,0
5,000,0
100,0
200,0
200,0
500,0
1,000,0
250,0
1,000,0
200,0
1,000,0
300,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0

$
3,039,9
3,001.1
1,607,1
3,627,3
4,238,1
454,5
22,276,0
5,400,1
524 ,8
2,394,5
161,6
950,3
684,2
4,765,2
14,947,8
5,099,3
801,5
1,038,9
475,5
2,240,0
8,521,3
1,045,0
357,8
l,5 6 i,4
951,3
4,989,5
1,212,7
7,276,6
8,645,2
128,1
3,307,5
i,964,7
19,749,5
1,080,1
770,2
859,2
630,?
4,827,0
1,940,8
852,0
944,2
1,536,8
1,342,7
460,5
1,700,0
808,9
1,413,3
695,8
2,317,0
616,1
269,9
780,2
437,3

Loans.
$
17,528,0
25,200,0
14,248.7
21,374,0
23,037,8
7,631,0
164,330,1
25,586,3
6,073,2
8,141,0
2,268,8
16,507,0
6,127,2
28,018,9
143,495,6
19,881,5
3,303,1
5,477,5
1,925,3
15,840,5
55,130,3
20,589,9
3,771.2
7,335,2
10,915,8
38,784,0
10,161,7
24,752,7
72.854,0
1,339,0
18,168,0
9,928,0
93,972 ,c
15,196,0
3,279,0
5.298,£
3,666,2
52,166,3
10,091 £
3.609,=
4,785,7
12.706,7
7,480,2
2,996,3
9,838,4
3,977,0
16,079,0
4,324,0
12.635,0
6,427,9
4,533.2
13,440,0
6,934,9

Specie. I Legals. Deposits, a Res’rve
%
2,313,0
5,042,0
2,980,0
3,594,0
2,995.8
1,678,0
37,955,3
4,766,3
1,131,6
878,0
413,0
3,330,0
1,186,8
4,192,8
20,274,0
2,590,9
262,7
476,1
445,0
2,303,3
9,869,1
3,686,1
270,3
1,562,6
2,680,8
6,4S3,0
1,580,8
4,213,0
20,036,0
255,4
2.652,0
1,182,0
18,435,5
2,973,0
663,0
1,020,3
644,1
12,925,2
1,869,6
200,0
758.3
1,214.7
1,593,0
561,0
640,7
520,0
3,194,0
4M ,0
2,262,6
1,512,9
933,1
3,355,0
1,391,8

$
1,882,0
2,231,0
1,062,7
2,244,0
2,635.1
115,0
2,100,0
1,693,0
352,5
571,5
65,6
1,445,0
367,5
1,335,1
11,012,5
847,1
529,9
986.6
359,1
1,686.8
6,645,8
1.794,8
-i31,0
566,0
206,9
5,092,0
556,4
1,433,0
3,067,0
153,1
2,237,0
1,186,0
1,754,5
910,0
64,0
510,1
190,0
1,156,8
935,6
725,0
659.fi
2.094,7
270,8
185,7
1,694,1
551,0
1,772,0
499,0
578,5
438,4
307,4
157,0
406,2

$
%
15,534.0 27 0
28,400,0 25.6
15,877,4 25.4
21,627,0 26.9
23,527,0 23.8
6,891,0 26.0
147,321,7 27.8
24,462,6 26.4
6,294,5 23.5
5,500,0 26.3
2,271,1 21.0
19,180,0 24.8
6,500,0 23.8
21,174,5 26.1
122,051.1 25.6
14,779,6 23.2
3,463,0 22.9
5,408,0 27.0
2,455,8 32.7
15,344,2 26.0
62,997,2 26.2
20,340,5 26,9
4,108,6 17 0
7,259,0 29.1
11,227,7 25.7
44,851,0 25.7
10,333,4 20.6
21,806,0 26.0
83,742,0 27.5
1,546,2 26.3
17,964,0 27.2
9,327.0 25.3
80,135,4 25.1
14,810,0 26.2
3,530,0 20.5
6,295.8 24.3
3,375,7 24.7
56,291,0 25.0
10,879,4 25.7
4,008,9 23.0
5.798.3 24.4
13,382,5 24.7
7,516,0 24.7
2,990,6 25.0
9,502.1 24.5
4,318,0 24.8
18,642.0 26.6
4,036,0 24.3
10,709,1 26.5
7,512,6 2.5.9
5,278,0 23.4
15,713,0 22.3
7,484,5 24.0

New York City, Boston and Philadelphia Banks.— Below
is a summary of the weekly returns of the Clearing-House
banks of New.York City, Boston and Philadelphia. The New
York figures do not include results for non-member banks:
W e omit two ciphers (00) in all these figures.

Banks.
New York
June 29-_
July 6 _ .
July 1 3 ..
July 2 0 ..
July 2 7 ..
Boston.
July 6 . .
July 1 3 ..
July 2 0 ..
July 2 7 - .
Phila.
July 6 - .
July 1 3 ..
July 20_.
July 2 7 --

CapUal
and
Surplus.

Loans.

Specie.

$
290,820,6
290,820,6
290.820,6
290,820,6
290,820.6

$
1126,539,1
1115,724,3
1104,835,9
1105,250,0
1123,163,7

$
200,792,5
199,710,5
201,818,0
204,768,3
210,451,5

$
74,724,7
70,780,8
72,749,0
72,567,6
72,750,4

43,680,0
43,680,0
43,680,0
43.080,0

192,658,0
192,350,0
191,693,0
194,074,0

16,436,0
16,203,0
17,945,0
18,823,0

5,418,0
5,860,0
5,170,0
4,778,0

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

224,480,0
222,030,0
221,660,0
221,334,0

Legals. Deposits, a

Circu­
lation.

Clearings.

$
1092,031,7
1078,540,2
1070,759,8
1072,991,3
1095,772,9

$
50,407,3
50,396,4
50,321,7
50,382,3
50,293,9

$
1,485,389,5
1,770,759,9
1,742,505,0
1,611,773,6
1,497,552,0

224,673,0
216,820,0
222,303,0
220,433,0

8,326,0
8,330,0
8,320,0
8,288,0

170,017,7
164,423,5
165,958,3
149,331,5

260,036,0
254,502,0
255,268,0
256,711,0

14,145,0
13,954,0
13,781,0
13,641,0

159,687,9
137,536,2
141,540,0
134,912,7

56,839,0
55,736,0
56,288,0
59,035,0

a Including for Boston and Philadelphia the item "d u e to other banks” and also
Government deposits. For B oston these G overnm ent deposits am ounted on July 27
to $2,640,000; on July 20 to $2,683,000.

Imports and Exports for the Week.— The following are
the imports at New York for the week ending July 27; also
totals since the beginning of the first week in January:
FO R E IG N IM PO R TS A T N E W Y O R K .
For week.

1907.

D ry G oods___________ _____
General M erch andise______

1906.

1905.

1904.

$4,234,835
16,646,415

$3,2S7,533
13,011,203

$2 756,762
12,443,100

T o t a l ____________________
$20,881,250
Since January 1.
D ry G oods__________________ $110,401,959
General Merchandise_______
410,055,749

$16,298,736

$15,199,862

$11,2S2,423

$92,397,911
344.408,997

$79,956 848
325,425,374

$68,410,735
275,168,804

$2,010,029
9,272.394

Total 30 weeks............. ....... $520,457,708 $436,806,908 $405,382,322 $343,579,539

The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending July 27 and from Jan. 1 to date.
E X P O R T S FROM N EW Y O R K FO R TH E W E E K .

For the w e e k _____ _______
Previously reported________

1907.

1906.

1905.

$13,237,400
349,063,653

$10,620,460
348,627,253

$10,137,460
295,772,673

|

1904.
$8,361,276
269,718,365

Total 30 weeks___________ $362,301,053 $359,247,719 $305,910,133 ^278,079,641

The following table shows the exports and imports of
specie at the port of New York for the week ending July 27
and since Jan. 1 1907, and for the corresponding periods in
1906 and 1905:
E X P O R T S A N D IM PO RTS O F S P E p iE A T N EW Y O R K .

T o t a ls ............ 129.100,0 161,720,6 1123,163.7 210,451,5 72,750,4 1095,772,9 25.8
Exports.
W eek.

Since Jan. 1

Reports of Non-Member Banks.— The following is the
-statement of condition of the non-member banks for the
week ending July 27, based on average daily results.

Legal j
Banks.

Capi­
tal.

Sur­
plus.

N. Y . City.
Boroughs of
M an.& B r'x.
$
$
$
177,4 1,050,2
100 0
W ash. H ’g'ts
Century ____
200,0
149,6 1,240,9
Chelsea lixeh
114,0 1,282,9
100,0
C o lo n ia l____
447,4 4,068,6
100,0
C olu m bia___
482,4 6,494,0
300,0
Consol. N at. 1,000,0 1,137,2 5,151,0
F id e lt ty ____
200,0
870,S
147,5
H am ilton . . .
200,0
282,3 5,046,5
Jefferson____
500,0
683,8 4,268,6
M t. M orris. 250,0
218,8 2,508,7
M utual.........
200,0
295,0 3,374.4
300,0
19th W a r d ..
484,5 4,505,4
100,0
363,6 3,883,0
Plaza -------200,0
12th W a rd ..
221,7 2,450,0
100,0
23rd \Vard
180,6 1,700.1
750,0
882,8 8,819,3
Union Exch .
100,0
397,9 3,385,7
Y o rk v llle ___
500,0
590,9 4 966,0
Coal & I.Nat.
200,0
208,2 1,299.6
New Neth’l’d
200,0
124.3
Batt.Pk.N at.
848,4
Borough of
Brooklyn.
200,0
169,1 3,320,3
Borough •___
150,0
421,0 2,653,5
Broadway . .
123,4 2,103,6
B r o o k ly n __
300,0
727,3 4,705,4
Mtrs' N a t .. .
252,0
Mechanics’ . 1,000,0
993,3 11,988,9
945,6 6,143,0
Nassau Nat.
750,0
National City
300,0
637,0 3,351,0
North S id e ..
217,6 1,573,1
100,0
Jersey City.
First N a t ___
400,0 1,192,2 4,391,1
H ud. Co.Nat.
719,2 2,730,2
250,0
Third N at___
200,0
338,7 1,972,1
Hoboken.
First N a t . . .
220,0
581,5 2,496,3
Second N a t .
202,1 1,795,6
125,0

Specie.

and i ClearBank , iny
N otes. ; Agent.

$
13,7
22,7
103,3
114,3
278,0
608,0
7,0
341,8
9,6
132,1
17,3
36,7
179,0
37,0
62,3
392,4
43,4
650,0
140,9
151,5

$
I
41,3
54,5!
47.8
380,2
257,0
208,0
57,3
280,9 !
215,4:
97,7
248,2
348,7
149,0
225,0
160,7!
220,9i
380,71
302,0!
7,3!
45,7j

$
80,3
67,6
86,3
515,9
524,0
201,0
60,1
510,0
195,4
207 7
261,S
713,5
297,0
159,0
175,9
669,8
112,1
460,0
165,1
91,6

43,7
12,0
124,0
354,8
286,4
214,0
136,0
24,1

!
218,3!
188,3
89,1!
141,2
648,7
450,0
342,0
117,8

201,9
189,0
287,9
714,7
823,9
681,0
648,0
63,0

181,1
89,0
55,8

335,7!
67,9
104,1

1,381,4
163,1
368,5

122,7
63,7

37,1'
54,9

198 5
63,8

Other
Net
Banks, Deposits.
&c-

S
18,6
92,4
186,7
ibo',6
793,6
105,7
58,6
4,3

78,7
109,3
60,0
7,5

....

92,7
44.6
34,5
218,2
164,01
—
94,0i
318.0

%
895,8
1,102,5
1,552,0
4,876,3
6,986,0
4,299,0
782,5
6,800,5
3,944.5
2,861,9
3,473,8
5,062,1
4,007,0
2,760,0
2,022,3
8,482,2
3,888,5
4,859,0
1,246,3
769,8
3,569,9
2,097,0
2,360,6
5,040,9
13.046,4
5,526,0
3,991,0
1,864,3

383,0 5,168,8'
164,2 2,226,4
26, lj 2,172,5
68, l! 2,157,4
207,6| 1,984,0

Total .luly 27 9,847,0! 14857,9 116438,2 5,048,3 6,523,4 11,338,8 3,430,4 122537,2
Total July 20 9,847,0 14857,9 117404,5 4,920,4 6,584,8: 12,467,3 3,169,5! 124440,8
Total July 13 9,847,0 14857,9 117683,0 5,138,0 7,241,8 13,501,0 3,782,8 126839,6




Since Jan. 1

~ 865,955
7,000
1,786,443
1,000,000

27,436
2,297
29,654
10,000

$2,540,353
717,087
1,155,297
261,953
106,330
1,601,704
220,212

$30,732,553
5,771,404
37,680,947

$09,387
933.182
51,216

$6,652,930
47,093,920
6,274,729

France ......... ................... - .................-

$702,0»0 $22,614,134
188,000
1.978,000
6,555
' 33,500
260,549

$2,270

All other countries......... .....................

7,665
4,786

Total 1907..........................................
Total 1906
.
- _____
Total 1905__________ ___________

$923,580 $24,817 689
907,904 32,014,220
449,894 18,578,830

Total 1907.................... ................... Totai 1906______________ ________
Total 1905____ __________________

Deposit with

W eek.

$12,376,086
14,097,069

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

Loans
and
Invest­
ments.

Imports.

Gold

a Total United States deposits included, 527,798,600.

" $2,030
6,000

Silver.
$2,259
2,270
158
06,807
093,762
522,289
10,322

973
9,191

$12,434
18,423
106,702

$1,297,867
1,400,557
2,151,063

Of the above imports for the week in 1907, $37,436 were
American gold coin and $3,243 American silver coin. Of
the exports during the same t i m e _____ were American
gold coin^andi$13,500Awere American silver coin.

a n d F in a n c ia l.
W e shall be ple a se d to m ail in v e s t o r s c o p ie s o f the n in th
e d itio n o f o u r 1 0 -p a u e cir c u la r d e s c r ib in g 65 S h o rt-T erm N otes
an d C o llateral T r u s t B o n d s w ith a p p r o x im a t e m a rk e t p r ice s .

S pen cer T r a s k
WILLIAM AND PINE STS.,

M

o f f a t

&

&

-

-

W

C o,
NEW YORK

h i t e

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

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

DEALERS IN INVESTMENT SECURITIES.
Commission Orders Executed for Cash Only.

THE CHRONICLE.

264
jB a u t ic r s 7

[V o l .

lxxxv.

The following were the rates for domestic exchange on
New York at the undermentioned cities to-day: Savannah
buying 50c. per $1,000 discount; selling 75c. per $1,000
premium. Charleston selling $1 per $1,000 premium.
New Orleans bank $1 per $ 1,000 premium; commercial 80c.
per $1,000 discount. Chicago par. St. Louis 25c. per $ 1,000 discount. San Francisco $1 10 per $1,000 premium.

© a le tte .

Wall Street, Friday Night, Aug. 2 1907.
The Money Market and Financial Situation.— There has
teeen a steady decline in security values throughout the
week. Offerings have been continuously in excess of the
State and Railroad Bonds.— Sales of State bonds at the
demand, with the logical result above noted. Undoubtedly Board are limited to $1,000 Virginia 6s deferred trust receipts
some of the developments of the week have had a tendency at 30.
The market for railway bonds has been exceptionally dull
to increase the caution which has existed for some time past
and, in the absence of buyers for such limited offerings as
in investment circles. One of the most important of these appeared, prices have generally declined.
has been the announcement by the United States Steel Cor­
Reading 4s and Lake Shore & Michigan Southern 4s of
poration that the amount of orders on hand is much smaller 1931 have been relatively firm and are practically the only
than heretofore, although the announcement accompanied issues closing fractionally higher than last week. Union
Pacific new conv. 4s have been much less active and are
the most favorable quarterly report of earnings the company fractionally lower. Steel 5s have been one of the active
has ever made. Also there has been a further decline in the bonds and have followed the drift of the market.
price of copper metal, a smaller demand for which is evidence
United States Bonds.— Sales of Government bonds at the
of diminishing activity in the various departments where Board are limited to $5,000 4s, coup., 1925, at 128. The
it is used. Moreover, the financial situation abroad is,, to following are the daily closing quotations; for yearly range
say the least, not reassuring. The Bank of France, showing see third page following.
in its weekly report a large increase in liabilities and decrease
July
J u ly
Aug. A u g.
July
Interest July
of gold holdings, has renewed its offer of interest on gold in
31
30
I
Periods
29
2
27 .
transit. The Bank of England also reports a smaller amount 2s, 1930 ______ .registered Q— Jan *105% *105% *105% *105% *105% *105 %
1930. -----------------coupon Q— Jan *105% *105% *105% *105% *105% *105%
of gold on hand and a smaller percentage of reserve than for 2s,
3s, 1908-18_______ registered Q— Feb *102)4 *102% *102% *102% *102% *102%.
3s, 1908-18................ coupon Q— Feb *103% *103% *103% *103% *x02% *102%
many years at this season and British consols have again 3s,
1908-18____ small coupon Q— Feb *101% *101% *101% *101% *X01% *101%:
4s, 1925 ................ registered Q— Feb *127% *127% *127% *127% *127% *127%
declined.
4s, 1925_____________ coupon Q— Feb *128)4 *128% *128% *128% *x27% *127%
The local money market has been firmer and rates are higher 2s, 1936.Panama Canal regis Q— N ov *104% *104% *104% *104% *104% *104 %
for both call and time loans.
* This is the price bid at the morning board; no sale was made.
The open market rates for call loans on the Stock Exchange
Railroad and Miscellaneous Stocks.— The stock market
during the week on stock and bond collaterals have ranged
has been continuously weak until to-day, practically all
from 2 to 3 % % . To-day’s rates on call were 2% @ 2 % % . active issues having declined from 2 to 8 points. There
Prime commercial paper quoted at 6 % for endorsements was almost no exception to the general downward tendency
and no period when the market showed any rallying power.
and 6@ 6 % % for best single names.
Stocks which have been leaders of the market for some
The Bank of England’s weekly statement on Thursday
time past have been the conspicuous features of the week,
showed a decrease in bullion of £610,147 and the percentage including Union Pacific, Reading, Great Northern and
of reserves to liabilities was 46.70, against 47.16 last week.
Northern Pacific, all of which declined from 5 to 6 points.
The discount rate remains at 4 % as fixed April 25. The Missouri Kansas & Texas is the only active issue which
Bank of France shows a decrease of 10,475,000 francs in closes higher than last week, notwithstanding a recovery
throughout the list averaging about a point to-day. At a
gold and 8,150,000 francs in silver.
point below the highest it is 4 points higher than last week.
The New York City Clearing-House banks in their state­
The copper stocks have continued to be freely offered on a
ment of July 27 showed an increase in the reserve held of decline which carried Smelting & Refining down nearly 8
$5,866,000 and a surplus over the required reserve of $9,- points, Amalgamated Copper nearly 7 points and Anaconda
258,675, against $9,088,075 the previous week.
5. Steel common declined 3 points and recovered partially.
The preferred has been relatively steady.
in feren ces
For daily volume of business see page 274.
Jrom
1906.
1905.
1907.
previous week.
July 29.
July 28.
Ju ly 27.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
$
$
$
$

129.100.000
C a pital..........................
161.720.000
Surplus__________
Loans and discounts. _ 1,123,163,700
50,293,900
Circulation______ . _
a l ,095,772,900
Net deposits_______
210.451,500
S p e c ie __ _ - ______
Legal tenders________
72,750,400
Mm
283,201,900
Reserve h e l d _____ . .
273,943,225
25% o f d e p o s it s .........
m
Surplus reserve____
9,258,675

117.972.700
115.972.700
149,608,400
139,492,800
Inc. 17,913,700 1,058,415,100 1,144,847,400
Dec.
88,400
47,044,300
48,804 600
Inc. 22,781,600 1,000,116,900 1,199,744,'900
194,450,900 224.830.700
Inc. 5,683,200
Inc.
182,800
89,470,800
90,411,500
Inc.
Inc.

5,866,000
5,695,400

283.921.700
265,029,225

315,242,200
299,936,225

Inc.

170,600

18,892,475

15,305,975

a $27,788,600 United States deposits Included, against $27,777,900 last week and
$11,974,300 the corresponding week o f 1906. W ith these United States deposits
eliminated, the surplus reserve w ould be $16,208,325 on July 27 and $16,032,550
on July 20.
N ote.— Returns o f separate banks appear on preceding page.

STOCKS.
W eek ending Aug. 2.

Saks
Week.

Range for week.
Lowest.

Range since Jan. 1.

Highest.

200 $4% Aug 2 $4% Aug
Alice Mining. - . -------Balaklala Copper
900 $8 Aug
2 $8% Aug
Chic Un Trac tr re c ts .. .
200 2% July 30 2 % July
150 65 Aug
Colorado Fuel & I , pref _
1 65 Aug
Comstock T u n n e l--------100 25c. July 29 25c. July
G t Northern subscrip ts
receipts, 55% p a i d ...
400 124% July 31 126 July
Homestake Mining-------100 72% July 31 72% July
Sou Pac pref subscrip’ n
receipts, 2d paid-------- 1,650 111 Aug
1 112 July
do
full paid____ 1,099 111% Aug
1 112 July
2 50 Aug
Vulcan Detinnlng, pref.
100 50 Aug
W estem M aryland__
300 15 July 29 15 July

Lowest.
2
l!
30
l!
29!

$3
$7%
2%
55
23c.

Highest.

June $7% Jan
July
June $11
July
3% May
June 85% Jan
Jan
Mch 50c.

June 130%
31 115
31 55% May 85

Apr
Feb

112
112
57
30%

July
July
F eb
Jan

27: 106%
30 106%
2 48
29 15

June
June
July
April

Foreign Exchange.— After opening strong the market fell
off in response to a pressure of loan bills and the tone was
Outside Market.— Nipissing Mines and Consolidated Steam­
heavy to the close. Gold exports $500,000 to Paris.
ship securities were the piominent features in an otherwise
To-day’s (Friday’s) nominal rates for sterling exchange dull and heavy market on the “ curb” this week. In sym­
were 4 8 4 @ 4 85 for sixty-day and 4 8 7 % @ 4 88 for sight. pathy with the general weakness on the Stock Exchange,,
To-day’s (Friday’s) actual rates for sterling exchange were prices show a downward tendency, though in the majority
4 8350@ 4 8360 for long, 4 8675@ 4 8685 for short and of cases changes are without significance. The slump in
4 8735@ 4 8745 for cables. Commercial on banks 4 8310@ Nipissing carried the price down fiom 10 to 7 % , the trading
4 8320 and documents for payment 4 8 2 % @ 4 8 3% . Cotton after this quieting down and the stock recovering to 8 % .
for payment 4 8 2 % @ 4 8 2% . Cotton for acceptance 4 8310 The close to-day was at 8 % . Copper shocks were extremely
<3>4 8320 and grain for payment 4 8 3 % @ 4 8 3% .
quiet. Boslon Consolidated Copper lost two points to 25,.
To-day’s (Friday’s) actual rates for Paris bankers’ francs recovered to 26% and moved down finally to 2 5 % . Brit­
weTe 5 1 9 % a @ 5 19% for long and 5 1 6 % @ 5 16%A for ish Columbia Copper declined from 10% to 9 % . Butte
short. Germany bankers marks were 94 9 -1 6 @ 9 4 % for Coalition from 25% sank to 23 and ends the week at the
long and 9 5 % @ 9 5 3-16<2 for short. Amsterdam bankers low figure. Dorglas Copper moved down from 9 % to 7 % ,
guilders were 4035@4037 for short.
but subsequently recovered to 8 % . Greene Cananea dropped
Exchange at Paris on London to-day 25f. 16c.; week’s from 16 to 14% , advancing finally to 15. Nevada Consoli­
range 25f. 16c. high and 25f. 15%c. low.
dated Copper declined from 14% to 14. United Copper
The week’s range for exchange rates follows:
common sank from 62% to 59% and closed to-day at 60.
—Cables------------Short-L on gConsolidated Steamship stock was fairly active and held
Sterling, Actual—
steady, selling between 3 % and 3 % , while the 4 % bonds
@ 4 8780
14 8775
H igh______ 4 8390
@ 4 8395
|4 8720
@ 4 8725
@
4
8745
!4 8735
suffered a decline from 30% to 2 8 % , the final transaction
L o w ______ 4 8350
@ 4 8360
@ 4 8685
|4 8675
Paris Bankers’ Francs—
to-day being at 2 8% . American Tobacco sold up from 293
@ 5 15% a
H igh______ 5 19%
@ 5 18 % a
15 16%
to 295 and down to 290. Manhattan Transit, after an ad­
@ 5 16%a.
L o w ______ 5 19%
@ 5 19%
15 16%
Germany Bankers’ Marks—
vance from 4 % to 4 % , fell to 4 , on active trading,but moved
H igh______ 94%
@94%
95 % d
@ 95%
I
up again to 4 % . Standard Oil sold up from 500 to 502 and
@ 9 5 3-16d I
LOW______ 94 9-16 @ 9 4 %
95%
Amsterdam Bankers’ Guilders—
back to 500. Western Ice declined from 31% to 29% and
@ 4 0 39
H igh______
. _____
@ ------ —
40 37
recovered to-day to 31. Chicago Subway from 26% ad­
@ 3 9 15-16
L o w ______
______
@ ______
39%
vanced to 2 7 % , dropped to 25% and closed to-day at 2 6 % .
) Lees: a 1-16 o f 1 % . < * l - 3 2 o f l % . ft3-32 o f 1 % .
Outside quotations will be found on page 274.
fg Plus: k 1-16 of 1 % : x 1-32 of 1 % . y 3-32 o f 1 % .




New York Stock Exchange—Stock Kecord, Da^y, Weekly and Yearly
" I ’C I I I ' \ *"»«.
STOCKS— H IG H EST A N D LO W EST S A L E W I V E S .
Saturday
July 27

■Monday
July 29

Tuesday
July 30

) Wednesday
j July 31

Thursday
August 1

Friday
August 2

TW O

STOCKS
N E W Y O R K STOCK
E X C H A N GE

Sales ot 1
Range tor Year 1907
the
On basis 01 100-share ots
Week
Highest.
Shares
Lowest

R a ilr o a d s
92% 94%
92% 93%
91% 933*
92
92% A t c h T o p e k a & S an ta Fe 43,030
94% 9434
91% 92%
____ ____
____
9234 9234 92% 92%
93 U 93I4 ____ ____
Do
p r e f ____ _____
500
97% 97%
*97
98
97
97
96
96%
95% 95% "94% 94% A t la n t ic C oa st U n e R I i _ .
1,100
98
98% 9834
99
97% 98
9714 9734
97
97
7,950
97% p a i t i m o r e & O h io _______
97%
*85
88
*85
88
80% 86% *85
*85
88
*85
Do
p r e f ____________
87
86
250
59%
57
58%
56% 57%
59
56% 57%
56
56%
56% 57% B r o o k ly n R a p id T r a n s it - . 23,335
* ____
82
.
82 * ____
82
82 * ____
82 * . .
82 B u ffa lo & S u sq u e , p r e f ___
17538 175% 176 177i« 176 176% 175 176
________
f
Canadian
P
a
c
ific
174% 175% 175 175*4
” 7’, 100
*631? 65% *63% 6512 *63
651? *62% 64% *63% 65 V Canada S o u t h e r n _______
*63% 67
*175 185 *175 185 *175 185 *175 185 §180 180 *175 185 C en tral o f N e w J e r s e y ____
30
3534
35%
35%
36
36
3538
35%
36%
35% 36
35% 3534 C h esap eak e & O h io _______ 10,960
19% *12
19% *12
*16% 19% *12
19% *12% 19% *12% 19% C h ica g o & A lt o n R R _____
* . _ 53 * ____
52 * ____
53 * ____
51
53
D o p r e f ____
________ " ’ "£>66
53 * . . .
53
11*4 11%
11% 11% *11% 11%
11% 11%
11% 11%
1,800
11% 11% C h ic a g o G reat W e s t e r n ..
72
*65
72
*64
*65
72
65
65
*64
72
*64
D o 4 % d e b e n tu r e s ___
72
100
*50
50
52
53
*50
52
60
*48
*50
52
*50
52
D o 5 % p r e f “ A ” ______
100
15% 15% *15% 16
D o 4 % p r e f “ B ” ______
*15% I 6I4 *151? 16
*15% 16
600
*15% 16
134% 135% 133;i8 1351g 132% 134% 131% 133% 131% 133*8 131*4 133 C h ic a g o M ilw & St P a u l__ 59,700
*15214 154
153*2 153% 152% 15212 *162% 154 *152 154 *152 154
D o p r e f ________________
400
120 120
118% 119% *147% 149 *118% 201?
12118 I21I4 121 121
D o c o m c t fs 25 % paid
650
13434 135
136 136
135 135
133% 134% 133% 133% 134 134 “
D o p r e f c t fs 25 % paid
1,430
150 151
149 151
148% 148% 147% 1483j *147% 149 C h ic a g o & N o r t h W e ste rn
148% 149
2,700
*205 218
205 205
205 205 *205 215 §210 210 *200 218
D o p r e f ______ ________
210
*130 135 *130 135 *130 135 *130 135 *130 135 *128 135 C h ic S t P M in n & O m a h a
*150 180 *150 180 *150 180 *150 180 *150 180 *150 180
D o p re f ____
_ .
*
5 * ___
5 * ____
5 *
5 * mmm.
5 * ____
6% C h ic a g o T e r m in ’l T ra n sfer
* ir
20 *15
*15
*15
18
*15
20
D o p r e f____ _____ __ . .
18
20
*15
20
C h ica g o U n io n T r a c t i o n ..
D o p r e f ____
. .
70
* 68% 70
*66
*64% 671? *64
*68
70
67
66
66 C lev e C m C h ic & St L ____
100
*10434 120 *10434 120 *10434 110 *104% 110 “ *104% 110 *104% 105
D o p r e f ________________
26
27%
2634 26% 27% C o lo r a d o & S o u th e r n ____ ’ ¥,630
26% 26%
26
26% 2734 2714 27%
5934
603S 60%
59%
59
59%
*58%
*58% 59%
59% 59%
D o 1st p r e f e r r e d ____
57%
1,690
46% 46% *45
46
46%
46
45% 46
46
D o 2d p r e fe r ie d ______
46>2
44% 45%
2,000
172 172
*172 173
168 169% 167% 168 T 'je la w a r e & H u d s o n ____
171% 17114 1691s 171
2,100
*469 4 /0 *469 470 *465 470 *460 470 *465 470 *465 477 -L 'e la w a r e L a ck & W e s t ’n
28% 29%
28
27% 27%
28
27I4 28
28%
28% 28% D e n v e r & R i o G ra n d e____ * ¥.100
28'4
*70
7OI4 7014 *70
76
*70
76
D o p r e f ________________
76
*71
76
*71
76
500
*65
70
*66
70
*65
70
*65
70
*65
70
*65
70 D e tr o it U n i t e d ___________
____
____ ____
* 10% 12
11% 1H2 * 10% 12
* 10% 12 D u lu th S o S h o re & A tla n
175
* 211? 24% *2112 241- *21% 24% *20
D o p r e f__________
24%
233a 23%
227g 24%
t fr le
............. ...................I 54,726
23%
23
23
23% 24
24l8 22% 23%
5934 5934 *58% 59%
59
5Jl2
59% 5984 -E j D o 1st p r e f________
59% 60
6914 5934
1,350
42
4*1
42
41% 42
D o 2d p r e f________
41%
41% 42
41
41
41
41%
2,740
*65
*65
75
*65
75
75
*65
75
*65
*65
75
75 E v a n s v ille & T e rre H a u te
D o p r e f________ __ _____
*85
95
*85
*85
96
*85
95
95
*85
95
*85
95
13634 13714 135 137
134 lo5% 131% 131% 131 133% 131% 133% G reat N o rth e rn p r e f______ 29,550
6884 58»4
T e m p c tfs fo r ore p r o p .
58
*56
58
55% 67
55% 56
56
58%
56%
3,400
G reen B a y & W .d e b c t f A
*834
Do
deb c tf B
9
*8%
9%
30% *19
30% *25" 8 0 *
U a v a n a E le c t r ic ________
*19
30% *20" *3*o’% *20
* ____ 95 * ____
-H
D o p r e f____________
95 * ____
95 * ____
95 * ____
95
H o c k in g V a lle y t r r e c t s . .
80
80
100
* ___ 85% * __ 85% * ____
Do
p r e f____
85% * . __ 85% * ____
85% * ____ *85%
*144 14434 144 144 *14334 145 *144 145 *139 141% *139 141% I llin o is C e n tra l___________ *” ■400
15% 15% *15% 16%
15% 15%
15% 153g
*1514 16
15% 15% J -n te r b o r o -M e tr o p o llta n _
1,110
D o p r e f ____ _________
45
45
*44% 45% *44
43% 44
43% 43%
43
45%
43%
1,050
18
18
17% 17% *17
*17
18
17% 17% Io w a C e n tra l_____________
17% 17% *17
605
38% 08% *38% 39
D o p r e f ________________
38% 38% *3812 39
*38% 39
38% 3834
600
*73
§74
*73
75
74
75
I Z C F t S & M , tr c ts p re f
*73
75
*73
75
73
73
125
26% 2734
27
27%
*26% 27
27% 27%
27% 271?
27% 28 U V ansas C ity S o u t h e r n ..
4,900
57% 573g
D o pref_._ ________
57
57
57
*57
57
57
57
57%
57
57
600
*18
*18
23
1"
ak
e
E
rie
&
W
e
s
t
e
r
n
___
23
*18
*18
23
23
*18
23
*18
23
* J D o p r e f ____________
*55
62
62
62
*55
62
*55
*55
*55
62
*55
62
50
60
50
*50
*50
*49
55
55
*48
55
*49
55 L o n g I s l a n d _____________
100
112%
113% 111*4 112% 112 112 L o u is v ille & N a s h v ille ___
114 114
113% 11418 11338 113%
2,100
*130 135 *130 135
133 133 §135 135
132% 132% *130 135
j\/| a n h a tta n E le v a t e d ___
250
*
» 91 * - _ 91 *
91 * ____
91 *
91 * ___ 91 m e t r o p o l i t a n S tr e e t____
m
7
21
21
2014 21
20%
*21% 21%
20% 20%
20% 20% M e x ica n C e n tra l_________ " 2",350
4034 41%
4134 4134
41
41%
41
41% 41%
41%
41% 4134 M in n e a p o lis & St L o u i s . .
1,100
* ____
D o p r e f . . ___ _________
81 *
81
77*4 77%
81 * ____
77% 77%
77% 77%
400
10634 106*4 *104 107 *104 106
*107 108 *x05 108
104 10434 M inn St P & S S M a rie___
500
D o p r e f . ______________
*138 140
137 138
136 136 *130 139 *130 137 *130 137
700
39%
38%
3934
37%
38%
37% 39%
37% 38%
40's
38% 39% M o K a n sa s & T e x a s ______ 59,700
6634 6634
6634 67
D o p r e f________________
66% 67IS 0714 6 7'8
*66% 67
66% 67
2,000
7334 75%
763S 77
73% 7H"
76% 76%
76% 76%
74% 7434 M issouri P a c ilic ___________
4,500
*120 125 *120 130 *120 130 *120 130 *120 130 *120 130
X ] ash C h a tt & St L o u is . .
§52% 5214 *50% 52
*50% ____ *50% 54
*50% 51% *50% 54 1 ’ at o f M e x , n o n -c u m p f .
50
D o 2d p r e f__________
11238 113,4 111% 113
I ll 'S 111% 110% 111% 110% 111% 111 111% N Y C en tral & H u d s o n . . 22", 403
40
*38
38
38
38
3818 40
37
37%
38
38 N Y C h ic & St L o u is ____
38
1,800
* ____ 115 * ____ 115 * ___ 115 * ____ 115 * ____ 115 * ____ 115
D o 1st p r e f ___________
*
80 * ____
D o 2d p r e f____________
72
74%
80
85
80
74% 74% * ___
*74
900
*164 170
163 166 §165% 165% *163 170 *163 170 *160 168 N Y N H a v e n & H a r tfo r d
160
36
35% 36
36
*36
36%
36% 36%
35% 36
*35*4 36% N Y O n ta rio & W e s te rn __
1,500
74% 75
74
75
74
74% 76
*75% 76
73% 74%
74% N o r fo lk & W e s t e r n _______
2,626
____
*75
*80
D o a d ju s tm e n t p r e f . .
85
*75
85
85
85
*78
130’ 132% 131% 132% N o rth e r n P a c ific __________ 71*576
13534 1361? 13334 1363g 13234 134U 131% 134
11214 113
112 112% 111 112
D o s u b s c r ip r e c ts ____
111% 112
113% 114% 112^4 114
5,130
*94
*94
99
*94
98
99
*92
*96
98
99
98 T ) a c l f i c C oa st C o . _______
*94
*92 102
*92 102
*92 102
D o 1st p r e f ________
*92
102
*92 102
102 ‘ - t
*92
*96 102
*94 102
*94
102
D o 2d p r e f________
*92 100
*90 102
*94 100
123 124
123% 124
122% 123% 121% 122% 121% 12234 122 122% P e n n s y lv a n ia ______________ 48,220
*69
74
*68
74
*68
74
*69
74
74
74 P it t s b Cin C h ic & St L ___
*68
*68
*90
*90
*90
§95
95
95
95
95
*91
95
95
*91
10
106 10634 104% 1071d 10334 104% 102% 104% 101% 103
102% 103%
432,200
80% 80%
80
80% *80
1st p r e f______________
81
81%
811? l v
81
*80
81% *81
700
80
*78
80
80
80
2d p r e f _____________
*78
*78
*78
80
80
*78
*77
22
2214
21% 2134 21% 21%
21% 2214
21% 21%
21% 21% R o c k Isla n d C o m p a n y ___
7,500
47% 4734
46% 47
D o p r e f . . ___ __
47
47
47% 47%
47%
47%
47% 47%
2,100
66
*60
*62
*60
*60
65
65
65
*60
65 St L & San F r , 1st p r e f . .
65
*60
D o 2d p r e f ___ _______ * 1*980
37% 37%
36% 37% *36% 37
38is 381g 37
38ig
36% 37
*20
20
20
20 St L o u is S o u th w e s te r n ___
2134 20% 21% *19% 21
*18% 21
20
1,100
50% *48
4634 61
*50
53
50
50
D o p r e f ________________
46
46% 48
1,800
46%
903a 91%
8914 91%
89% 91>4
88% 91%
88% 90
891? 90% S o u th e rn P a cific C o ______ 332,410
112% 11234 112% 112% 112% 112%
D o p r e f ________________
112% 112% 1121? 112% 11234 113
1.925
19lS 20
19
19% 1934
19%
18% 19%
191g 19%
18% 19% S o u th e rn v t r c fs sta m p e d
6,950
62% 63
*62
*62% 65
63
65
64% 64%
64
D o pref
do
63
64
600
32
31
30% 31
2934 30%
30% 31%
29% 29%
30% 3038 rP e x a s & P a c if ic __________
8',300
____ . . . . *104
110 *104 110 *104 110
*104 110
110 *104
1 hird A v e n u e (N Y ) ____
*241? 26
*2434 2534 *24% 26
*24% 2534 *24% 2534 *2434 26 T o le d o R a ilw a y s & L ig h t
26% 26%
26% 26%
26% 26%
26% 26%
26% 26%
2678 26% T oledo St L & W estern___
1.700
4934 49%
4934 50
4934 50%
D o p r e f . . _______ _ .
49% 4934
49% 49%
49% 4934
2.710
95% *92% 95% *91
*94
94
96
92 T w in C ity R a p id T-ranslt.
95
92
91% 91%
500
146% 146% 143% 146% 143 % 144% 141% 144% 141 143% 14278 144% I T nlon P a c i f i c ___________ 459,300
*83
83% 83%
8312 83% *83
83
vJ
D o p r e f ___________
85
85
370
58134 8134 83

BANKS AND
Bid

Ask

215
510
225
122
320
160
180
300
310
Chels’aExc'11 200

220
525
235
132
330
170
195
350
320

B anks
N ew Y ork .
A e t n a _____
A m e r ic a I f ..
A m er E x eh .
B a tte r y Park
B o w e ry f ___
B u tc h ’ s& D r
CenturyH —
C h a se_______
C h a th a m ___

---

B anksC h e m ica l___
C itizens’ Ctrl
C i t y ________
Coal & I r o n .
C olon lalll___
C o lu m b ia If.
C om m erce. .
C o n s o lid a t’d
C o p p e r ____
C o m F x c h 1!
D iscou n t 1f.
Kast R iv e r .
F id e lity 11..

Bid
3J5
140
2521"
230
700
500
1169
160
210
300
150
150
195

Ask
405
145
260
245
525
tl7 1
170
220
310
160
160
205

82% M ch 14
92 M ch 25
92 M ay27
90% M ch 2 5
85 J ’ne 19
45% M ch 14
83 F e b 16
155 M ch 23
60 M ch 14
165 M ch25
31% M a y 2 7
11% May2C
50 J ’ne 18
9% M a y 27
65 J ’ly 15
43 J ’n e l /
12% M ay23
1221? M ch25
145 “ M ch25
107 M ay 2 /
126% M ay28
137% M ch25
200 A p r 4
120 M ch25
160 Jan 18
5 M ch 28
9 M ch27
278 M ay 15
l l i 2 M c h l4
63 M ch26
100% J ’ly 16
21 M ay 27
56 M ay22
40 M ay27
160 J ’ne 5
445 M ch26
24 M ay27
697g M eb25
61 J ’ne 15
934 M ch 14
19 M ay27
20 M ay28
51% A p r 15
33% M ay28
90 A p r 4
122 J ’ne 3
49% May27
8 M ch 9
30 A p r 23
72 A p r 1
753s M c h 28
83% M ch 28
134 M ch 26
15 J ’ne 13
42% J ’ ne27
17 J ’ly 15
30% M ch25
70 J ’ne 11
18 M ch 14
45 M c h 26
19% M ch 18
65 A p r 2
45 J ’ly 23
108 M cn25
129 M ch 26
83 M ay29
15 M ch 14
40 J ’ly 12
77% A u g 2
90 M a y 28
123 M ch 14
30% M ch 26
59 M ch 26
64 M ch 14
119 M ch 22
48% M c h 23
20*8 M ch26
108% J ’ne 3
35 M ay 28
109 M ch25
70 M ch 26
159%J ’ne 4
31% M a y28
71 M ch 14
80 M ch 14
114% M ch 2 5
106% M ay2«
90 M ch 15
95 M ch 20
114 M c h i4
66 M a y 28
91 J ne 3
91 M ch 14
79 J iy 9
771? M ay24
17% M ch 26
4034 M ch 26
59 M ch i s
29 M ch25
18 M ch 19
45% M ch25
69*4 M ch 14
109% May27
17 M ay27
53 M ay 28
2434 M ch25
101 M ch 14
24 M ch 28
2334 M ch 26
45 M ch 8
87% M ch 14
120% M ch 14
83 A u g 2

Range lor Previous
Year 0 9 0 6 ).
Highest.

108% Jan
85% M ay 110% Sep
101% J a n 12 £98 D e c
106 Jan
133is J an 5 ]3 ii8 J ’ly 16778 Jan
122 Jan 6 105% M ay 1251s Sep
94i? Jau 10
iiyio J a n
91 O ct
71 J ’l y , 94% J au
83% J an 7
8534 F e b 8
83 Jail
87 F e b
1951? Jan 4 155% M ay ■ 201% D ec
651? J a n 14
esig J ’ne I 70% J an
219% J a n 2 204 M ay 23978 M a j
56 Jan
05% A u g
51i2 N ov
27% Jan fj
353s O ct
25% Sep
69 J an 5
70 D ec
7714 O c t
2
18 J an
10 J ’ne
23% Jan
86% Jan
79 F e b 25
79% S ep
71*. F e b 14
70 D e c
80 Jan
247’g N ov
26if. Jan 5
39% J an
1571? J a n 14 1146% D ec
199% D e c
1651? Jan 5 J160 D e c 218 A u g
141 J a n 14
149 J a n 15
205 J a n 10 192 A p r 240 Jan*
234 J a n 10 225 A u g 270 M ch
170 Jan f. 168 J ’ne 198 Jan
165 J a n 19 175 Nov- 202 Jan
934 A p r
9*4 F e b 21
18*4 Jan
25 Jan 11
4234 J an
25 D ec
6)4 A p r 3
3% M ay
1334 F e b
193g Jan 9
471? M ch
11?8 J ’l y
92% J an 7
89 D ec
10978 Jani
108% Jan 7 110 J ’ly
118 J an
29% Jail
38% Jan 9
41 O ct
66% A p r
69% J an 7
73% F e b
43 M ay
59 D e c
58% J an 8
227!? J an 2 189 M ay 23434 N o v
510 J an 24 43734 M ay 560 M ay
42% J an 7
5178 J an
36% M ay
911, Jan
83 O ct
83% J an 10
80i« J a n 16
79% D ec 102 “ F e b
2278 J an
19% Jan 5
16 J ’ly
45 Jan
32 A p r
39 Jan 4
44% Jan 5
38is M ay
60% Jan
7434 D ec
83 Jan
75% J an 7
6212 A p r
67 Jan 7
76% J a n
76 Jan
68 D e c
«4 A u g
92 A p r 5
80 J ’ly
189*4 J a n 2 C178 D ec 348 F e b
70% D e c
85 Jan 5
85 D e c
8112 N o v
921? Jan
113., O ct
14% J an 17
23% Jan
33ig J an
47 Jan 3
53 A u g
77% Jan
86% Jan 4
97*4 M ay
114 M ch 6
99‘sg J ’ne
94 Jan 5
9212 N o v
172 J a n 3 164 M ay 184i2 J ’ ne
3358 J ’ne
39 J a n 23
5538 M ay
873s M ay
70% J ’ly
75% Jan 7
343,i Jan
28% J an 4
24 J ’ly
6334 Jan
51 Jan 7
48 J ’ly
80 J a n 10
77 O ct
8412 F e b
375g Jan
30% J an 5
2278 j ; j y
71 Jan
61*4 Jan 8
49 J iy
447g Jan
28% J a n 12
27% J ’ly
G71? A p r 26
75 Sep
§92% Jan
8^4 Jan
61% O ct
671? Jan 9
145% J an 5 136i4 M ay 1561? J a n
146 F e b 13 140 Sep
162 Jan
127 Jan
107 Jan 23
103 J ’ly
29i» D eo
18% M ay
27% J an 5
84% Jan
59 J a n 15
58I2 D e c
10014 J a n
90 A p r
90 Jan 24
140% J an 3 134 D e c
164 M ch
I 8334 J an
168 Jan 3 10312 A p r
29 M ay
44% M ch 1
43% N o v
72% Jan 4
64I4 A p r
76 N o v
92*4 Jan 5
85l2 M ay 10684 Jan
147 Jan 8 133 M ay 14912 Jan
5934 D ec
36 A p r
59*s J an 9
I 8I4 J ’ne
30 D e c
27 F e b 14
134% Jan 10 126 N o v 15014 Jan
7312 A p r
59 M ch
631? Jan 7
110 J a n 16 111 A p r
120% J an
9184 Jan 7
80 M ay
92 D e c
189 Jan 9 18912 D ec
204% j a n
57i4 Jan
43^4 M ay
48% Jan 5
92% Jan 5
97% O c t
84 F e b
89% A p r
90% Jan 10
96 Jan
189% Jan 7 17914 M ay 23212 F e b
134 F e b 13
124% Jan 7 'l 0 3 Jan
142 J ’n e
105 Jan
106 J a n
125 M ch 8 10512 J an
135 M ay
141% Jan 8 122% J i y
14712 Jan
75 M ay
78 Jan 22
87 Jan
105% Jan 5 100 M ay 109 A u g
139% Jan 7 112 M ay H 6 4 J a n
89 Sep
92 Jan 7
96 Jan
94 Jan 8
90 A p r
102 Jan
30% J an 5
221? J ’ly
32% Nov64% Jan 5
60 “ J ’ly
6934 A u g
70 J a n 11
60 F eb
7234 A p r
48% Jan 5
401? J ’ly
5II4 F e b
251? Jan 7
2012 M ay
27% Jan
48% M ay
62% F e b 15
6338 S ep
61 M ay
96% Jan 14
97% Sep
118% J a n 14 116 J ’ly
120% J ’n e
31% N ov 42% J a n
34 Jan 5
931» D ec
941? Jan 5
103 Jan
37% Jan 7
28 ” M ay
40ig O ct
123 J a n 8 121 N o v £139% Jan
29 Jan 7
2514 D ec
36 Jan
3334 Jan 5
40% Jan
25U J ’ly
547» A p r 12
43 J ’ly
59% J an
108% J an 7 102 D ec
122i4Jan
183- J an 6 13812 M ay 19538 Sep
911? M ay
96 M ay 2
9914 Jan

TRUST COMPANIES— BROKERS’ QUOTATIONS.
Bid
B a n k s.
Fifth AveTl. 3900
F i f t h _______ 340
First _______ 610
U t h Street 11 225
F o u r t h ____ 180
G a l l a t i n ... . 350
G arfield ____ 500
G erm anA m li 135
G erm an Exll 420
G erm an ia 11. 500
G reen w ich 1i 285
H am ilton H. 260
H a n o v e r ___ 495

Ask
4200
____
630
300
195
360
525
145

Bid
B a n k s.
Im p & T rad 525
in te rb o ro 11. 150
Irv in g N Ex 185
J efferson I f . . 210
L i b e r t y ____ 490
L i n c o l n ____ 1000
M anhattan If ' 295
M a rk e t& F u l 255
M ech an ics’ . 230
____ M ech & T ra 11 160
295
M e r c a n tile .. 230
290
M erch b x c h 185
505
M erch an ts’ . 155

Ask
540
157%
195
220
510

Banks.
M etropolis 1!
Vtetropoli’nli
Vit M orrislfM utual 11___
N assau If___
N ew A m ster
3*10 ' New N ethTd
265
N ew Y o r k Co
240
N ew Y o r k . .
168
N ’ ht & D ayll
240
19th W ard If
195
N orth A m er
165
N o rth e r n ___

Bid
390
155
240
280
200
190
220
1200
290
400
325
260
172

Ask

Bid
B a n ks.
O riental t f . . 265
165 * P a cifio If___ 230
P a r k _______ T440
2*90* P e o p le ’s If__ 300
210
P h e n i x ____ 155
200
P laza If____ 570
230
P rod E x c h 11 160
R iv e rsid e U. 250
S e a b o a r d ___ 350
4*10*" S e c o n d ____ 700
’S tate 11_____ 360
2*70"* 12th W a rd 11 450
182
23d W ardH . 190

275
250

175
260
370 1

• B id and asked p rices; n o sales w ere m a d e on th is d a y . ♦ E x -r ig h ts .
$ Less th a n 100 shares,
II S ta te b a n k s , a E x -d iv id e n d an d rig h ts, b N ew stool!
t Sale at S to c k E x ch a n g e or at a u ctio n this w e e k , c E x ben eficial Interest In ore p r o p e rtie s .
h 1st in s ta i’m t p aid
» Sold at p r iv a te nale at th is prim




New York Stock Record— Concluded—Page 2

266

S T O C K S—HIG H EST A N D LO WEST SA LE PR ICE S.
Saturday
July 27

M onday
July 29

Tuesday
July ZO

Wednesday
July 31

Thursday
August I

Friday
August 2

STOCKS
N E W Y O R K STOCK
EXCHANGE

Sales oj
the
Week
Shares

E V o l. l x x x y .

Range 1ar Year 1907
Lowest.

Highest.

Range 1<rr Previous
Year (1906).
Lowest.

Highest

100
62 Jan 7
20 J ’ n e l7
£0 A p r
98 Jan
28 U nit R y s I n v ’t o f S an F ran
71% Jan 7
300
93% Jan
D o p r e f ______ _______
55 Apr
37 J ’ne 18
46
250
18 D ec
14
181* J an 5
26i-> Jan
11% May27
100
D o p r e f ___________
36% D ec . 53% F eb
381- J a n 7
25%
21% M ch25
1634 J a n 7
16 A p r
9% M ch
13 W h e e lin g & L a k e E r ie ___ ______
2 134 F e b
100
3734 J a n 5
D o 1st p r e f ____________
22 M ay22
36 M ay
48% F eb
27
2134 J a n 10
21% O ct
D o 2 d p re f_
_______
13 M ay21
16
29% F e b
16 M c h l4
257$ J a n 12
23 M ay
33 J an
18% W isc o n s in C e n tra l________ _____
800
51% Jan 7
D o p r e f ________________
44 J ’ly
64 J an
41
36 M c h l4
Ind u s tria l& M is ce lla n e o u s
5 §165 J ’ly 25 §330 J ’n e 20 §240 J ’ne §300 A u g
A d a m s E x r p e s s __________
•150 170 *150 170 *150 170 *150 170 *150 170 §165 165
1,050
2738 Jan
9%
934
9% M ay21
16 J ’ly
10
10%
16?8 J a n 5
*9'S 1034
10% 10%
9% -^ llis -C h a lm e r s ___________
10% 10%
9%
100
D o p r e f _______ _____
25 M cii 14
433< Jan 3
40 Sep
67 Jan
*26
30
*26 . 28
*26
30
27
27% *25
*26
27
28
A m a lg a m a te d C o p p e r ____ 250,470
8834
83-%
84%
78l?M ch 26 12l7g J a n 5
92% J ’ly 118% F e b
89% 90*34
88% 90%
8S%
86%
85%
85
<
s
87%
500
34% J an
15 May27
25-% Ja n 8
20 J ’ly
20
20
19
*18% 20 A m e r A g ric u ltu ra l C h e m .
*19% 20% *19% •20
19% *18% 20
102 Jan
* ____
D o p r e f ________________
85 M ay 13
90 D e c
95 * ____
95 F e b 20
95 * ____
95 * . . .
95 *
95 * ____
95
23% Jan 7
35 Jan
400
10% May22
20% M ay
15% 15-% *1538 16
15
14% 147s *14
16 A m e r ic a n B e e t S u g a r____
153s
*15% 16
_
■(■____
75 M ch 5
89% J an
D o p r e f __________
80 J a n 21
76
8278 O ct
76 *
76 ♦
76 * ____
76
76 *
5% J ’n e i9
7% A p r 11
300
6
534
*5
*5U
5%
5%
5%
5%
*5%
5%
5%
5% A m e rica n C a n ____________
6019 A p r 10
D o p r e f ________________
5234 53% §53% 53% *5219 53
1,305
48% M ch 26
52% 52153%
52% 52% §53
47% Jan
31 M ch25
45% J a n 14
3234 J ’ ly
427S 43%
5,800
42% 4212
43
43 A m e r ic a n C ar & F o u n d r y
43% 43%
43% 4334
42% 427g
D o p r e f ________________
300
92l9M cll25 103 Jan 12
105 “ Jan
*100 101
10034 10034 101 101 *100% 105 *100% 101% *100 101%
98% J ’ly
3534 35
27 M ch 25
28 M ai
44% Jan
36%
35
35%
34% 3434 3434 34% A m e r ic a n C o tto n O il______ 12,660
36% J ’ly 27
35
35% 36%
90 J a n 21
D o p r e f ____________ .
88 M ch 13
90 D e c
95 Jan
90
*85
90
*85
90
90
90
*85
*85
90
*86
*85
200 M ch 25 247 J a n 5 21» A p r 272 A u g
*210 218 *210 218 *210 218 *210 218 *205
215 *205 215 A m e r ic a n K x p r e s s ________
8% J a n 11
700
1134 Jan
5's
*534
5% M ch 13
5%
7% M ay
6
6
5%
6%
6
6 A m e rica n G rass T w in e ___
5%
578 *534
6% J an 16
412 *414
950
4 M ay 23
10 Jan
5% Nov*414
4
4
4
4
4
4 A m e rica n H id e & L e a th e r
4%
4
*3%
30i2 J a n 7
D o p r e f . ______________
24 N o v
800
16 M ay20
43 Jan
197s 19-8
20% 2014
21
*19
21
20
20%
19% 19% *19
35% Jan
88 J a n 2
5434 56 A m e r ic a n I c e S e c u r it ie s ..
1,405
947s Sep
60
50 J ’ly 31
60
*55
54
55
55
60
65
54% 54%
19% J an 10
9 Aug 1
1634 D ec
*9
100
*9
29% Jan
*9
11
9
*5
10 A m e r ic a n L in s e e d ________
11
9
11
11% *9
36
Jan
7
22
A
u
g
2
35
D ec
D
o
p
r
e
f________________
100
2234
22
53's J an
*22
*22
*22
26
26
22
*22
26
23
22-%
5403
J
’ne
19
7534
F
e
b
15
5334 M ay
5,800
5638
781- Jan
57
56
56
58
58%
58
57 A m e r ic a n L o c o m o t i v e ___
58
581"
59U 59U
D o pref
. ___________
120% Jan
350 101 M ch25 H l i 2 J a n 21
108% D e c
*10412 106% *104% 106% *104% 106% 106% 106% 106% 106% *105 108
47% A p r 2 ____ ____ ____ _ __
4I0 *4
21? J ’ne 10
*4
*4
*4
*4
5
4%
*4
41?
4% A m e r ic a n M alt C o r p ______ ______
4%
22 “ J ’n e n
D o p r e f ________________
40 F e b 21 ____ ____ ____ _ __
336
22
22
§227s 227's
23
23
*23
25
*23
25
*23
25
92% D e c
10134 Jan
*
93% J a n 7
86 M ch25
891- A m e r S m elters S ec p r e f B _ .
90 * ____
90 * . .
90 * _ _ 90 *
89% * ____
118 118% 116 118% 114% 116% 112% 114% 110% 113% 11134 H37s A m e r S m e ltin g & R e fin in g 108,500 104% M ch25 x l5 5 J a n 7 138% May- 174 Jan
130 Jan
D o p r e f . ____________
1,900 100 M ch 25 11738 J a n 7 112 D ec
104 % 106
104% 1047s 105 105%
106 106
*10512 106% *106 107
190 A m e r ic a n S n u fI___ __
192%
12 205 J an 18 200 J ’ly 220 J a n
*107 200 *107 200 *170 200 *170 200 *170 200 *171
* ____
§95 A p r 1 102 J ’ne 7 100 D e c
D o p r e f ________________
Mo Jan
*70
*80
*80
*80
99
99
99
99
99
*7
*7
*7
1034 Jan 5
934 N o v
15% Jan
51, M ay22
200
7
*7
7 A m e r ic a n S teel F o u n d rie s
7% ~*7* *7%
7%
7%
7%
34
“
M
c
h
i4
4
7
loJan
7
53% Jan
D
o
p
re
f_
.
________
__
40
M
ay
200
40
40
41
*39
*38
49
*38
*38
40
41
39
39
3,500 114?8 M ch 14 137% F e b 13 127% M ay 157 J a n
122% 12234 12134 1221* 121 121% 121 121% 120% 121% 120% 121 A m e rica n Su g ar R e fin in g .
140 Jan
D o p r e f___________
122 M ch 6 131 J a n 2 1281 •>D ec
127 *123 127 *123
127
*124 127 *123 127 *124 127 *123
c 104% J ’ne 14 133 J a n 4 130 " J ’ly 144% J a n
*107 110 *107 110 *107 110 *105 110 *105 110 *106% 108 A m e r ic a n T e le p h & T e le g
983^ J a n 5
109 J a n
96 J ’ly
320
86
86% A m e r ic a n T o b a c ( n e w ) , p f
84% J iy 12
86
86
*85
87%
§87% 87% *85
87% *85
8714
361- J a n 7
48 J a n
24 “ M ch 26
650
28 N o v
26% 26% *26% 27
*26
27
20% 261- A m e r ic a n W o o l e n ________
§27% 27%
26*8 27
D o p r e f . ______________
11038 J an
92
92
§91
265 z90 J ’n c25 1027s J a n 5 101 J ’ly
91
9.1% 9114 *91
91% 91% *91
J9178 91%
55
53% 54% d A n a c o n d a C o p p e r Par$2Z 23,770 553 M ch 14 30234 F e b 16 223% M ay 300 F e b
56561«
55%
53
55%
56
i 57% 5S
57%
$9% M a yi3 ____ ____ ____ ____
1,400
C634 J ’ly 17
7
7
*7
7
7%
7%
7%
7% d B a to p ila s M in in g Par$2Q
7%
7%
7%
7%
B r o o k l y n U n io n G a s ____
200 105 M ay29 125 M a y 1 105% N o v 178 Jan
106 110 *110 115 *110 115 *110 115
*106 112 *106 112
141, Jan 4
2134 A p r
100
10 M ay 21
*12
13% J ’ly
*12
14
14
14
*11
*11
13 1-% -unsw ick D o c k & C Im p
*13
13
13
14%
49% J an 3
40 A p r
70 M ay
170
33 J ’ly 29
35% *
35% B u tie r ic k C o ______________
*33
35% *34% 35% *33
35
33
33
*33
40 F e b 15
3384 D ec
49?8 Jan
700
20 M a y 21
22% 22% §22
23
22% 22% /C e n t r a l L e a th e r __________
23
23
2312 23%
23
23
107% Jan
9834 D ec
D o p r e f ______________
89 M ch 26 102 F e b 8
92
720
*92
*92
92% 9214
94
94
94
92% Vv
92%
94
*91
83% Jan
5778 J an 8
40% M ay
30
30% 31 C o lo ra d o F u el & I r o n ____ 10,100
27% M ay21
31
29% 30%
33
31% 33
33%
31% 31%
28% A p r 5
30% N o v
17 M ay
20 “ M ch 5
840
241? 243.1 *24
*24
*24
25
25 C ol & H o c k C oal & I r o n . .
24% 24% *24l?> 25
25
3,695 110 M c h is 140% M ch 1 130% A p r 18134 J a n
120 121?<! 119-3| 1217c 1211*. 121% 119% 120
117% 119 •117 118 C o n s o lid a te d G as (N Y ) . .
2434 Jan 22
28 A p r
18% J ’ly
1734 17% 17%
1,344
17
17% C orn P r o d u c t s R e f i n i n g ..
15% M ay 28
17% 17% 517% 17% *17
i *171s 17%
71 J ’ne 4
74i2 M ay
8534 A p r
D o p r e f. . .
________
88 J a n 28
470
72
*72
72%
: *72'-4 7314
73
72% 72%
72% 72% §73
73%
74% Sep
51 Jan
61 M ay27
78 F e b 13
6434 65
1,875
64% 645a D istille rs’ S e cu ritie s C o r p .
65
' 66
66
66
65% 66
65%
66
199 Jan
135 J ’ly 17 163 J a n 16 138 Jan
*120 135 *120 135 *120 135 *120 132% *120 132% *120 132% F e d e ra l M in in g & S m e lt’ g _
97 J a n 14
D o p r e f ________________
80 M ch 15
91 J ’ly 112% Jan
82
200
*82
82
84
83
84
*81
83
*S2
84
*83
83
184 O ct
13634 137 G eneral E l e c t r i c _________
1,500 1351- M ay28 163 J a n 22 z i5 6 D e c
139 13934 13834 138% 137 137% 137 138
139 139
25 £117% J ’n e i4 152 F e b 13
130 *120 130 *118 130 *115 130 G ra n b y C on s M S & P ___
*120 130 5121 121 *120
*7
7% M a y 2
7 M a y l3
*7
*7
8%
*7
8% 1 n t M er M arin e s tk tr c tfs
8%
8I4 *7
8%
8%
*7U
D o p r e f . ___________
18% J ’n e i g
24 A p r 25
10
*1934 21% *19
5193s 19% *20% 22
*19% 22
21% i*19% 22
18% J a n 7
26% Jan
16% Sep
11% M ay27
200
*14
14% 14% *14
15
15 In te r n a tio n a l P a p e r ______
14% 14% *14
15
*14% 15
81 F e b 11
90 J an
D o p r e f ___ _____________
80 D ee
*72
*72
230
70% M ay22
72
72
73
73
73
71% 71% *71
*71% 72%
5034 Jan 15
t 95 Jan
100
40 M ch 14
48 Sep
43% 43% * .
*43% 59
43 *_ _ 43
43 I n te r n a tio n a l P o w e r ______
41 J a n 7
28 Jan
22 J ’ne 13
60 M ay
2534 In te r n a t S te a m P u m p ___
1,450
26% *23
*24
26
25
26
■ *24’
§26% 26% *24
25“
8 i J a n 14
71 Jan
D o p r e f ________________
68 J ’ne 13
92 M ay
950
*72
76
72
76% *72
76
*70
75
75% *75
73% *70
7514 Ja n 24 ____ ____ ___, _____
700 162% M ch 15
68% 6812 68
69
69
68 M a c k a y C o m p a n ie s _______
69
69% 69%
69% 69%
71 J a n 24 . . . .
____ ____ ____
D o p r e f ________________
300 z63 M ch 15
*66% 68
*653g 68
66% 60% *66% 68
66-% 66% *66% 67%
731, J ’ne 3
86% Ja n 15
791- D ec
62 M ay
74% 7434 *74
525
*74
74% 74%
75 V Ta tio n a l B is c u it ________
*73% 75
75
74
74
110% J ’ne 4 11738 M ch 5 113% J&n
1181- O ct
-L*
D o p r e f . _ ______ _
*110%
*113
*113
*113%
*110%
*11012
1538 Jan 5
18% Jan
12 M ay
10% M ay28
700
13-4 *13% *12% *1*4** *13
*14* ’ N at E n a m e l’ g & S t a m p ’ g
1334 ’ l3% *1334 *14 " *13% *14* "
87 F e b 15
88% M ch
D o p r e f ________ _______
82 Sep
79 M ch 28
*82
100
*82
84
83
85
84
*81
83
83
85
*81
84
76% J a n 7
66 M ay
9535 J an
______
49 M ch 25
5534 5734
7,320
59-34 60%
56% 57 N a tio n a l L e a d ___
57
59%
61
61
61
J 61
D o p r e f ________________
9834 *97
9834 98%
97 M ay29 103 J a n 5 100% J ’ne 106% J an
621
*97
981• 598% 98-% 98
98
98
98
143g 15
14% 14% *14% 15%
14*4 14%
3,100 $14 J ’ ne 4 $20% A p r i s ____ ____ ____ ____
; * 14% 15%
14% 15 N e w h o u se M & S .P a r J I O
16334 J an
7,000
98 M ay27 141i2 Jan 7 133 J ’ly
121% 124'>x 122 123% *120 124
118% 122% N ew Y o r k A ir B r a k e ____
: 123% 123% 123 124
8934 J a n 4
871k N o v 107 Jan
100
65 M ay20
69
*68
6S% 68% *68
69 N o rth A m e r ic a n C o .. new
69
*68
68% *68
*68
69
51% Jan
2834 J ’ ne
2 ll* M c h 2 5
41% J a n 5
300
29
27
28%
i 30
30
28
26% 281 •> 26% 2634 2634 271- l i a c i f i c M a i l ________ _____
98% J an 4
103 J an
*901, £>1% 89% 90%
90
90% A e o p le ’s G a s -L & C (C h ic)
3,520
85 M ch 14
91
91
88 J ’ly
*91% 91%
91% 91%
167*
Jan
15
10%
A
u
g
1
18% N o v
P
itts
b
u
r
g
h
C
oal
C
o
_______
13%
M
ay
400
*10% 11% *10% IH 9
10% 10% *10% 11
U
11
i *11% 12
62i- Jan
D o p r e f________________
60% J an 4
50 J ’ly
100
49 M ch 15
*51% 54
51% 51% *50% 53
*52
*51% 54
54
*52
54
64% J a n
57 J a n 10
43 M ay
1,232
30 M ch 26
§34
33% 34
33% 33% §33
34
34
33 P ressed S te e l C a r__________
*o5
35% $34
9978 J a n 24
90% 903,
D o p r e f________________
95 M ay 105 F e b
210
90
86 M ch 26
91
92% 921- *91
90
91
93
*91
93
180 D e c 270 N o v
100 150 M ch 14 181% Jan s
*162
165 *162 166 “ *163 165 *1621* 1621s *161 166 *162 165 P u llm a n C o m p a n y ----------6234 J an
571, Jan 10
44 M ay
200
39 M ch26
42
*40
41 T ) a ilw a y S teel S p r in g ___
42% 42% *41% 421*42% 44
41% 41% *40
107 Jan
9734 J ’ly
991- F e b 15
IV
D o p r e f - - ________
100
90% 90% *90
89 J ’ ly 2
. *8934 90% *893! 90% *8934 90% *8934 90%
91
4134 D e c
4 1 'J a n 7
22% M ay
2,575
221- M ch26
2734 2734 26% 27% §26% 26% §26% 26% R e p u b lic Ir o n & S te e l------2834 28%
: 28% 28%
91 M ay 1101—J an
D o p r e f ________________
2,100
78 ” M ch 25 100 J a n 7
82
82
82
84
84
§84
84
82% 83%
84
583% 83%
7734 Jan 7
97% J an
68% J ’ly
1,320
42 M ch 14
56
55
55
*55
56 C lo s s -S h e ffie ld S t e e l& I r n
55% 5614
56%
*56% 58
56% 5634
1,13 " A p r
•3 D o p r e f .................... . .
100
92% J ’n e 22 107 Jan 11 104% O ct
*95
95
95
*96 100
*95
97
*95 100
97
T e n n C o a l. Ir o n & R R ___
100 130 M ch26 162 Jan 4 ! 129 Jan J166 N o v
*140 150
140 140
1,000 S347g M ch26 $53% M ch 1 ____ ______ ____ ____
*37* *3*8% *37* *37*84 36% 3634 *3534 *38** ^ T en n essee C o p p e r Par$Z 5
*37% *3*8% 37% 38
85 Jan 17
60 M ay
88 O ct
*70
*70
*70
200
68 M ch26
*70
*70
79
75
79
73
75
79 T e x a s P a cific L a n d T r u s t .
73
8% J a n 15
15% J a n
5% Sep
5% J ’ n e 21
I T nlon B a g & P a p e r ------300
6
6
6
6
r- * 5%
6'.j
61 Jan 7
52 O ct
84 Jan
D o p r e f ____________
200
50% M ch25
*55% *55% vJ
55% 55%
*55
58
49% Jan 5
53 Jan
36
600
30% M ch25
43% M ay
*35* *35%
36 U S C ast I P ip e & F o u n d r
35% 36
89 J a n 15
9 6 '8 Jan
83% D e c
74 M ch26
81% 81%
200
81
81
*80
82
§95 M ay28 §117 J a n 9 109 M ay 13819 Jan
*108 113 *I6s* 113*’ *108* 1*13“ *108* 1*1*3* ’ *108 113 *108 113 U n ite d S ta te s E x p r e s s ___
90% J a n 4
941- J an
52 J ’ne26
75 A u g
*52
*52
56
*53
56
57 U S R e a lt y & I m p r o v e m ’ t
*52
*51
58
*52
58
58
30% Jan 28
40% J ’ne
12
12 A u g 2
24 M ch
13 U S R e d u c tio n & R e fin in g
*14
*14
16
*13
*400
*13
18
*14
18
17
18
68 J a n 7
84 J ’ne
48
40 M ay27
60 M ch
50
*46
50
45% 46
500
*47
*47% 50
48
48
48
52% F e b 16
59% O ct
321^ J ’l y 18
38 j ’ly
34% 34%
34% 34% U n ite d S tates R u b b e r ___
1,810
34
36
36
35% 35%
*35% 37
35%
9734 J ’ne 2 4 1097s Jan 7 1 10434 J ’ly 1115 Jan
97% 98
D o 1st p r e f ____________
*97% 98%
1,847
98
§97
98
98
98
98%
98% 9S34
78% Jan 7
D o 2d p r e f . .*_________
66 J ’n e 26
70
75 M ay 187% Jan
100
*64
*64
69
*64
*65
66
66
70
70
*64
67
503S
J
a
n
7
50% O ct
34% 35*4
31% M ay 27
32% J ’ly
35% 36%
35% 35% U n ite d S ta te s S t e e l_______ 235,185
36% 37's
36% 37%
37% 37*4
113% Jan
9 U2 M ch25 10734 Jan 7
15,981
10034 1007s 100% 100% 1003s 100% 100% 100% 100% 1003g 100% 100%
9834 J ’ly
90
00
*9Q
9Q3.
OS
90
9B
9S
97
98
97
97 d U ta h C o p p e r ___ P a r $10
1,700 $24 M ch 25 $3919 M ch 4
39% J a n 7
Es Jan
23% M ay29
26
7,100
31 J 'ly
26% 27
26 V lrg ln la -C a ro lln a C h em __
26% 271;
26
26
’ 263s 27%
2534 26%
101 M ch25 108 J a n 9 104 J ’ly 117% Jan
D o p r e f . ____________
101% *101
1011- *101 101% *101 lOllo *101 101%
*101
101% *101
93 D ec
97 J a n 22
38 M ay
55 M ch 25
400
*60
65 “ *60
65
65
68
68 V ir g in ia Ir o n C oal & C oke
*60
65
65
*60
65
250 M ay 7 300 J ’n e 3 233 M ch 305 O c t
*2 SO 300 *280 300 *280 300 *280 300 *280 300 *280 302 T I T e ll s F a rg o & C o ______
94% Jan
» T e s t e m U n io n T e l e g . .
85 J a n 10 18334 D e c
*429
75% J ’ly 8
*77
79
78
78
78
*77
79
*77
79
78
78
78
300 142 M ay28 154 J a n 2 148 A u g 176 Jan
14534 *143% 14534iW e s t ln g h ’s e E l& M fg assen
144% 144% *143
145 145 *144% 145% 145 145
162 N o v 188 Jan
§145 A p r 26 §160 M ay23
165 *153 165 *153
165 *153
165 i D o I s t D r e f ......................
*153
165 *153
165 *153
27%
46
*13%
*23;i4
• Id a
*26
*15
*17
*10*2

27%
46
14
25%
11%
27
18
18%
41%

*26
*44
*13%
*23*4
*10%
*26
*15
*17
*40%

28
46%
14
25%
11%
27
18
18%
41%

*26
44
13%
*24
*11
*25
*12
*17
40%

28
44
13%
25
13
27
17
18%
40%

*26
*42
1338
*24
*11
26
*15
*17
40

BANKS
Bid
Banks.
U n ion E x c li 220
U S E x ch U. 122%
W a s h H ’ hts*: 230
West SideH. 600
Y o r k v llle H- 400

Ash
240
132%
____

Banks.

Bid

28
44%
133s
25
13
26
18
18%
40%

*26
*44
*13%
2434
*11
*25
*12
*17
*38

AND
Ask

28
46%
14
2434
13
27
16
18%
41%

*26
*42
*13
*24%
*11
*25
*12
*17
*38

TRUST COMPANIES— BANK ERS’
Trust Cos.’
N Y C ity .
A s t o r _____ _
B ankers’ T r
B o w l’ g G r’n
B ro a d w a y T r
C a r n e g ie ___
C entral T r ’ st
C o lu m b ia . .
C om m ercia l
C om m onw ’ h
E m p i r e ____
E q u ita b le T r
F a rm L o & T

Bid

Ask

Trust Co’ s.
Fidelity..........
Fifth A v T r .
F u lto n ______
G u aran ty T r
G uardian T r
H u d s o n ___
K n lc k ’ b ’ k er
Law T I & T r .
L lncoln T r . .
M anhattan .
M erca n tile. .
V Ietropolit’ n
M orton T r ’ st

Ask
Bid
220
210
____ 550
275
325
475
500
225
235
95
105
1190 1210
____
T247
325
____ 450
825
875
575
590
650
700

QUOTATIONS.
Trust Co’ s
M u t u a l ____
M ut A lli’nce
N Y L Ife & T r
N ew Y o r k T r
S tand ard T r
T itle G u & T r
T r Co o f Am
U n ion T rust
U S M tg & T r
U nit S ta te s .
V a n N ’ denT r
W a sh in g to n
W i n d s o r ___

Ask
Bid
130
120
200
190
____
1000
670
650
. . . . 410
475
455
715
700
1250 1300
470
450
1200 1230
280
....
400
____
210
195

Trust Co’ s.
B rooklyn .
B r o o k ly n Tr
C itizens’ ___
F l a t b u s h __
F r a n k lin ___
H am ilton . .
H o m e ______
J e n k in s ____
K in gs C o ___
L Isl L & T r . .
N a s s a u ____
P e o p le ’ s ___
W lllia m s b ’ g

Bid

A tk

425
....
135
145
260
First ............ 385
300
315
42*5*’ H om e B ’nkH 175
330
315
M an u factrs’ 400
____
160
150
M echanics’ U 305
210
---M ontauk____ 160
475
B rooU yn .
N assau ____ 250
....
300
3*15* ’
N at C it y ___ 305
____ N orth S id e 11 360
____
270
250
Borough 1!.. 175
____
316%
P ro s p e ct P k f: 160
BroadwaylJ. 450
220
-----B r o o k ly n _ . 115
135 T e r m in a l- .11 140
-----• Bid an d asked p rices: n o sale3 o n th is d a y . i Less th an 100 shares. t E x -r lg h t s . fi.Vew s t o c k . e E x -d lv id e n d and rig h ts. d N o w q u o t e d d o lla rs p er s h a r *
tS a le at S to c k E x ch a n g e or at a u c tio n this w e e k .
sT ru st C o. c e r tific a te s . IJBanks m a rk e d w ith a p a ra g ra p h (II) a r e S t a t e b a n k s .




B r o o k ly n .

300
350
500
475
440
425
160
150
225
215
1850 2050
205
215
200
215
____
100
350
335
____ 405
1185 1220

New York Stock Exchange— Bond Record, Friday, W eekly and Yearly
O C C U P Y IN G
BONDS
N . Y . ST O C K E X C H A N G E
W rkk E nding A u g u st 2
t . S , ( ioViM'llllMMl!
U S 2s co n so l registered.(Z 1930
U 3 2s co n s o l c o u p o n ___ dl9 3 t
U 8 3s r e g is t e r e d _______ /c l9 1 '
U 3 3s c o u p o n ...................../cl9lrU S 3s re g sm all b o n d s..fc l9 1 f
U S 3s con sm all bonds../C191!U b 4s r e g iste r e d .................192.’
U B 4s c o u p o n ...................... 1926
U S P a n Can 10-30 y r 2s.fcl i’3
P h ilip p in e isla n d s 4 s . 1914-34
P u b w k « an d im p re ' 4s 193..
P u b w k s an d im p r e g -..1 9 3 t
F o r e ig n G o v e rn m e n t
Jap an ese G o v t 6 s s te ri’ g .1 9 1 1
2d series 6 s ........................ 1911
ii loan 4 4 s c tfs fu ll p d . 1925
2d series 4 4 s ctl's fu ll paid
S. loan 4s c t fs fu ll p a id .. 1931
R ep u b o f C uba 5s e x te n d e b t..
U H of M e x ico s f g 5s o f 1899
G old 4s of 1 90 4 ................. 1954
S t a l e S e c u r it ie s
A labam a c u rr fu n d 4 s ___ 1920
D ist o f C olu m bia 3 -6 5 S ....1 9 2 4
L ou isian a n e w con so l 4 s .. 1914
N orth C arolina con so l 4 s . 1910
6 s ............................................ 1919
So Carolina 4 4 s 2 0 -4 0 ........1933
T en n n ew settlem e n t 3 s ..1913
V irg in ia fu n d d e b t 2 - 3 s .. . 1991
6s d e fe rre d B r o w n B ro s ctfs.

P rice
F r id a y
A u g u st 2
Q-J
Q-J
Q-x
Q-F
q-i
Q-*
O-F
Q-F
Q-N
i,|. F
Q-S
Q-F

B id
105*4
105*4
102 4
102 4

W eek's
R an ge o r
L a st Sale

R an ge
S ince
g-s
^ sc J a n u a r y 1

a sit
1064
1064
10H 4
1034

Low
H igh
1 0 4 4 A p r ’ 07
105*4 J ’ i y ’ 07
102 4 .F ly ’ 07
1 0 3 4 J ’l y ’ 07
107 J ’ n e ’ 02
1 0 1 4 O ct ’0
i o i 'i
127 4 128*4 1 2 8 7* J 'n e '0 7
127 4 128 >-4 129*4 M ay’O"
104*4 105 4 105 4 O ct ’ 00
1 0 9 4 ......... 111 M ay’ 06

Low H iy h
104 41 0 5 * 8
104 4 1 0 6 4
102 4 102*4
102 4 1 0 4
t 2 8 7s 130*4
1 2 9 4 1 3 0 "*

A-O t 99% Sale
994
99»s
99
99**.
A -O * 0938 Sale
F-A t 8 9 \ Sale
8 9 7e
904
J J It 8 6 4 sa le
864
87 4
7 8 7*
79
J - J * 7S7a Sale
M -s * 1 0 3 4
103
103 >4
98 J ’ l y ’ 07
9 6 78 99
Q-J
9278
J -D
9 2 4 Jr’l y ’07
U hese a r e pr ices 0 n ih e U
J-J
F-A
J -J
J -J
A-O
J-J
J -J
J -J

111
113 4
1174
i b o " 105 4
1004
100
126
120
9 3»8
92
92H, 9 3 4
28
30
30

K u ilr o m !
labam a C en t See So R y
laba M ull See A t Coast L in e
A lb a n y & Susa See D el & Hun
A lle g h e n y V a lle y i'ee P en n R r
A lie g & W es t See B u ll R & I 1
S4
85
A n n A r b o r 1st g 4 s ........../t.1995 Q-J
A tc h T * S F e—G en g 4 s . 1995 A-O
9 o *8 Sale
R e g is tered ..........................1995 A-O
97 4
88
A d ju stm e n t g 4 s ........... /(.199;r Nov
R e g is t e r e d ...................h 199J Nov
S tam ped........................ *199 5 M-N
86
864
95 Sale
C o n v g 4 s ............................1955 J -D
99 7g 100
C on v g 5 s (s u l)s c r ip s )..1 9 1 7 J -D
99 .........
L e b jm u r e s 4s S eries F . 1908 F-A
S eries G ........................... 1901 F-A
S eries H .......................... 1910 F -A
S eries 1 ............................ 1911 F-A
S eries K ...........................1913 F-A
E a s tO k la D iv 1st g 4 s . .1928 M -8
90 4
A tl K n o x & N See L & N
64*8 Sals
A tla n tic .Coast 1st g 4 s . M 9 5 2 M-S
C harles * S av 1st g 7 s . ,1 9 3 b J-J
Sav F & W 1st g o ld 6 s ..1934 A-O 181
1st gold 5 s ...................... 1934 A-O 108
A la M id 1st gu gold 5s ..1 9 2 8 M-N
.........
B ru n s * W 1st g u g 4 s ..1 9 3 8 J-J
"9 2 4
82
L & N c o ll g 4 s ...............01952 M-N
S il Sp O ca <feG g u g 4 s ..1 9 1 8 J -J
044
A tla n tic * D a n v See S outh Ry
A u stin & N W See S ou P a cific
91 Sale
a l t * O hio p r io r I g 3 4 s .l9 2 6 J -J
90
R e g is te r e d ................./i 19 2 5 Q-J
9 9 4 99*6
G old 4 s ..............................WL948 A-O
R e g is t e r e d ...................ftl9 4 8 Q -J
P itts J u n c 1st gold 6 s . . .1 9 2 2 J -J
.........
P J u n & M D i v l s t g 3 4 s l 9 2 5 M-N
P L E * W V a Sys re f 4 sl9 4 1 M-N
91
" 86^4
S ou tliw D iv 1 st g 3 4 s . . .1 9 2 5 J -J
R e g is t e r e d ...................7il925
100
M on on R iv 1st g u g 5 s ..1 9 1 9
Cen O h io R 1st c g 4 4 s . . 1931) M-S
Cl L or & W c o n 1st g 6s 1933 A-O 1 0 8 *
O h io R iv e r R R 1st g 6 s .1930 J-D
G en era l g o ld 5 s ............. 1937 A-O
n o
P itts G t e v & T o l 1st g 6s 1922 A-O 110
P i t t s * W e s t 1 s t g 4 s . ..1 9 1 7 J -J
9 0 4 ..........
S tat I s l R y 1st g u g 4 4 s 1943 J-D
B a t C reek * s See M id i C ent
B eech C reek See N Y C & H
B e ile v * Car See Illin ois Cen i
B k lyn * M on ta u k See L o n g 1
B ru n s & W e s t See A t l C oast L
B u ffalo N Y * E r ie See E rie
B uffalo R * P gen g 5 s . . .1937 M-S
1144
A ll * W e s t 1st g 4s g u . .l 9 9 8 A -O 101 102
C l & M ali 1st g u g 5 s ___ 1943 J -J 106
R ocli & P itts 1st g 6 s ...1 9 2 1 F-A 1 1 4 4
C on sol 1st g 6 s ............. 19 2 2 ! J-D
Buffalo & S ou th w es t See Erie!
B ull * Susq 1st r e f g 4 s.d l9 5 1 J - J
934
B u r C R * N See C K I & P
ianada S ou th 1st 5 s ........ 1908 J -J 100 Sale
'2 d 5 s ................................... 1913 M-S
R e g i s t e r e d .. . ............... 1913 M-S
C arb * S ha w n See 111 C ent
C arolina C en t See S eab A ir L
C arthage & A d See N Y C & M
C ed R Ia F & N
See B C R & N
C en B r a n ch R y See M o P a o
C en t o f G a R R 1st g 6 s ..p l 9 4 5 F -A
C on sol g o ld 5 s ..................1945 M-N 10 J 104
R e g is t e r e d ...................... 1945 M-N ......... 1 0 8 4
1st p r e f in com e g 5 s ___ p 1945 O ct
.......... 86
S t a m p e d ...................................
2a p r e i in c o m e g 6 s ....f> 1 9 4 5 O ct
66
S t a m p e d ...................................
06
3d p re i in com e g 6 s . .. .p l 9 4 5 Oct
64
S t a m p e d ...................................

96*4
964
87*4
^64
7 8 's
98*4
96*8
92
o f $5

M ar’ 02
J ’n e ’06
D e c ’ 04
A p r ’ 07
M ar’ 07
M a r’OC
J ’l y ’ 07
M ay’ 07
30

100*(.
100*8
94*8
9 2 7e
^ 5 l4
103*4
99
95
to £ .

1004 1004
126 126
92
934
20

96
95*4
304

A

B

n

C

84
84
984
98 4
97 J ’ n e ’07
88 J ’l y '07
86 A p r ’07
86
86 4
96 4
94 4
100 4
1004
101 J ’ly ’ 07
98 "g M ay’ 07
96 F e b ’ 07
9 8 4 N o v ’ 04
94 N o v ’06
93 M ay’ 07
94

8 1 4 91
9641024
9 3 \ 101*4
86
92 4
86
86
85 4 9 2 7*
92*4 1 0 8 4
10041004
99 101
9 8 s* 9 8 5t,
96
96
91

94*6

1327g J a n ’ 06
112*8 J an ’ 04
114*8 N o v ’ 05
9 9 4 M ar’ 06
84 J ’l y ’ 07
94 J ’l y ’ 07

894
94

904
91
89 4 J ’ n e ’o7
99
100
97 4 J ’l y ’ 07
120 O ct ’01
86 J ’ n e’ 07
91 J ’l y ’ 07
87 4
87 4
89 O ct ’ 00
1 0 5 7g F e l»’ 07
109 A p r ’ 05
109*4 J ’ n e’ 07
116 M ay’ OO
113 4 N o v ’ 06
1 1 9 4 M ar’ 04
94 M a r’ 07
100 N o v ’04

113 4
103 4
103
124
118

S9»s 9 3 4
894 924
9 S 4 102s*
9741014

"s i" ’ W
894
86*4

10 9*4 i *13®i

94

9 4 4 A p r ’07

116
103 4
113
85 4
88
70
664
60
60

M ar’ 07
103=8
A p r ’06
J ’l y ’ 07
M ay’ 07
J ’ n e ’ 07
664
J ’ l y ’ 07
J ’ly *07

96
90*4

i o 6 7i ib‘5 4

M ay’ 07
F e b ’07
A p r ’ 97
A p r ’ 06
J ’ n e’07

100
1004
102 4 J ’l y ’ 07
100*4 M ay’ 07

93

92 a4 9 3 4

113
LOi

1184
1034

118

1234

89\
23

94

96*g

9941024
101 105 4
100*4 100*4

lie
116
36 103 4 1 1 1
8 5 ’ * *9 0 ”
85 - 90
70
76
6 0 4 74*4
60
66
50
66

FOUR

PAGES

BON DS
ST. Y . S T O C K E X C H A N G E
WKEK ENDfNO AUGUST 2
C e n t of G a R R —( Con)
Cliatt D iv p u r m o u g 4 s .1953 j- D
M ac & N o r D iv 1st g 5 s .1940 J-J
M id G a * A t l D iv 5 s . ...1 9 4 7 J-J
M o b ile Div- 1st g 5s........1946 J-J
Oen R K * B o f Ua co l sr 5s 1937 Vl-N
C en t o f N J g e n ’ l g old 5 s . 1987 J -J
R e g is t e r e d ................. ftl987 Q-J
A m D o ck & Im p gu 5 s .. 1921 J -J
L e & H u d R ge n g u g 5s 1920 J -J
Leh <fc W ilk s B Coal 5 s . .1912 M-N
Con e x t gu a r 4 4 s ___ 01910 Q-M
N Y * L o n g B r g e n g 4s 1941 M-S
Cent P a cific See So P a cific Co
C e n tV e rm o n t 1st g u 9 4 s .e l9 2 0 Q -F
Chas & S av See A t l C oast L in e
Ches & O hio g 6s ser A ..A 1 9 0 8 A-O
G old 6 s ............................... a.1911 A-O
1 st o o n so l g 5 s ...................1939, M-N
R e g is te r e d ...................... 1939 M-N
G en eral gold 4 4 s ............. 1992 M-S
R e g is t e r e d ...................... 1992 M-S
Craig’ V a lle y 1st g 5 s ___ 1940 J -J
R * A D iv 1st co n g 4 s . .19 8 9 J -J
2d co n s o l g 4 s .................1989 J -J
W arm S pr v a l 1st g 5 s ..1941 M-S
G re e n b rie r R y l s t g u g 4s ’ 40 M-N
C h ic & A lt R R r e f g 3 s . ..1 9 4 9 A-O
R a ilw a y 1st lie n 3 4 s . ..1 9 5 0 J -J
R e g is te r e d .......................1950 J -J
C h ic B u rl & Q— D en v D 4s 1922 F-A
Illin o is D iv 3 4 s ............... 1949 J -J
R e g is te r e d ...................... 1949 J -J
G o ld 4 s ............................. 1949 J - J
I o w a D iv s in k fu n d 5 s . . 1919 A-O
S in k in g fu n d 4 s ............. 1919 A-O
N e b ra s k a E x te n sio n 4 s .1927 M-N
R e g is te r e d ...................... 1927 M-N
S o u th w e ste rn D iv 4 s ___ 1921 M-S
J o in t bonds See G rea t N orth
D e b e n tu re 5 s .....................1913 M-N
H a n * St J o s co n s o l 6 s ..1911 M-S
C h i c * E 111 r e f & im p g 4s 1955 J - J
1st s f c u r 6 s .....................1907 J-D
1st co n so l g 6 s ...................1934 A-O
G en eral co n s o l 1st 5 s ___ 1937 M-N
R e g is te r e d ...................... 1937 M-N
Cliic & I n d C R y 1st 5 s . 1936 J-J
C h ioago & E r ie See E rie
C h ic In * L o u is v ret 6 s ...1 9 4 7 J -J
R e fu n d in g g o ld 5 s ............1947 J -J
L o u is v N A & Ch 1 s t 6s. 1910 J -J
C h ic MU & S t P te rm g 5s 1914 J -J
G en eral g 4s series A .. e l 9 8 9 J - J
R e g is t e r e d .....................e l9 8 9
-J
-J
G e n e r a lg 3 4 s se rie s B .e l9 8 9
C h i c * L S u D i v g 5 s ___ 1921 J -J
C h ic & M o R iv D iv 5 s . . . 1926 J -J
C llic & P a c D iv 6 s ........... 1910 J -J
C h ic * P W 1st g 5 s ........1921 J -J
D a k * G t So g 5 s ............. 1916 J-J
F a r * Sou assu g 6 s ........1924 J -J
H a s t * D D i v 1 s t 7 s . . . ..1 9 1 0 J -J
1st 5 s ................................. 1910 J -J
I & D E x te n 1 s t 7 s ..........1908 J -J
L a C r o s s e * D 1st 6 s ___ 1919 J -J
M in e ra l P o in t D iv 5 s ___ 1910 J -J
So M in n D iv 1st 6 s ..........1910 J -J
S o u th w e st D iv 1 st 6 s ___ 1909 J -J
W is * M in n D iv g 5 s ___ 1921 J - J
MU & N o 1st M £ 6 s . . ..1 9 1 0 J-D
1 s t o o n so l 6 s ...................1913 J-D
C h i c * N o r t l i w c o n s 7 s ___ 1915 Q-F
E x te n s io n 4 s ..........1886-1926 F-A
R e g is t e r e d .......1 8 8 6 -1 9 2 6 F-A
G en eral g o ld 3 4 s ............. 1987 M-N
R e g is t e r e d ...................« 1 9 8 7 Q -F
S in k in g fu n d 6 s ...1 8 7 9 -1 9 2 9 A-O
R e g is te r e d ............1879-1929 A-O
S in k in g fu n d 6 s . ..1 8 7 9 -1 9 2 9 A-O
R e g is t e r e d ............1879-1929 A-O
D e b e n tu r e 5 s .....................1909 M-N
R e g is te r e d ...................... 1909 M-N
D e b e n tu r e 5 s .....................1921 A-O
R e g is te r e d ...................... 1921 A-O
S in k in g fu n d d eb 5 s ........1933 M-K
R e g is te r e d .......................1933 M-N
N o rth lU in o is 1st 5 s ___ 1910 M-S
O tt C F & St P a u l 1st 5 s 1909 M-S
W in o n a & St P e t 2d 7 s .. 1907 M-N
MU L 8 & W e s t 1st g 6s 1921 M-N
E x t * Im p s fu n d g 5s 1929 F-A
A sh la n d D iv 1st g 6 s ..1 9 2 5 M-S
M io h D iv 1st g 6 s ..........1924 J -J
I n c o m e s ..........................1911 M-N
C h ic R o c k I s l * P a c 6 s . . .1 9 1 7 J -J
R e g is te r e d ...................... 1917 J - J
J
G e n e ra l g old 4 s .................1988
R e g is te r e d .......................1988, J -J
R e fu n d in g g 4 s ............... 1934 A-O
CoU tr u s t S e r ie s H 4s . . 1910 M-N
J 4 s ................................... 1912 M-N
M 4 s ................................... 1915 M-N
N 4 s ................................... 1916 M-N
0 4 s .................................... 1917 M-N
P 4 s ................................... 1918 M-N
Ch io R I & P a c R R 4 s . .2 0 0 2 M-N
R e g is te r e d ......................2002 M N
CoU tru st gold 5 s ......... 1913 M-S
B u r C ed R & N o r t h e r n C on 1st * c o l tr g 5 s ...1 9 3 4 A-O
R e g is te r e d ..................1 9 3 4 A-O
C R I F * N W l s t g u 53.1921 A-O
M & S t L 1 s t g u g 7 s ..19 2 7 J-D

P r ic e
F r id a y
A u g u st 2

Wee/c’ s
R ange or
L ast Sale

104 4 .........
10.J .........
122 122 4
120 4 .........
10ti7b .........

L ow
H igh
93 J’’n e 0 6
115 4. D e c ’05
115 N o v ’ 05
115 4 A u e ’ 05
100 4 J ’l y ’ 07
122
1 22 4i
12 1 >>i J ’l y ’ 07
1<j6 >4 J ’ly ’u?

98*4 100
100
9 8 * 8 ......... 98
100 . .
88
1 0 1 4 ........
1 0 4 * 4 ........
1 0 9 14 ........
ib l

bale

95
.........100
......... 75
67 4 69
97 4 ____
' 89 ........
« 8 s8 ........
99 \ Sale
105 4 ........
100 101
1 0 0 4 .........
96

R an ge
Since
^ sq J a n u a ry 1
Low H igh,

100
122 126 1
12! ’ 126
L06\ , . x

M ay’07 . ..
J ’l y ’ 07
M ay’ O'

85

102&* J ’ l y ’ 07
105 J ’l y ’ 07
110
110
116 J ’ n e ’06
101k
1004
104 M ay’ 06
112 F e b ’ 06
97*8 M ay’ 07
90 J ’ n e’ 07
1 1 3 4 F e b ’05
99*4 F e b ’OO
76 J ’l y ’ O"
674
67‘„
80 4 M ay’ 05
9 9 4 J ’n e ’07
89
89®*
90 Sep ’ 06
99*8 100
106 M ay’ 07
1 0 0 4 J ’ n e ’ O/
1 0 0 4 1 0 0 ’m
101 4 D eo ’00
100 J ’l y ’06

106 4 .........
110 .........
1 0 3 4 .........
109 4 Sale
103 4 .........
1 1 6 4 .........
1 0 b 4 .........
1 0 0 4 .........
1 0 6 4 .........
1 0 0 4 ..........
103 ........
102 4 Sale
107 .........
1 0 2 4 .........
106 **.........
11738 120
......... 102
1 0 1 4 ........
■ 94 .........
90 4 .........
107 .........

99*4 105*4
96 4 1 0 0 4
90
924
75*4 80
66
7 6 *,
9841004
884 924
994
106
98\
100

106" io 7 4

i’0’04 ioT'
1 0 4 4 .........
103 ____
......... 116 4
1004 ....
100®8 .. . . . .
100 78 ........
119 .........
110 .........
1 2 2 4 ..........
1 1 9 4 .......
100 .........
1 1 3 4 .........
1 1 0 4 ..
974 984
9S
8 8 4 Salt94** .........
91 ® ,.........
87 _____
87 ..........
8 5 4 .........
69*8 Saio
8 8 4 ” 111
110 117
1 1 1 4 ........
104 ........

1134113 4

88

12441264
107 1117#
102 105
103 1 0 6 4
101 107
88*s

884

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1 1 1 " i l '3 4
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118*8 121
1 0 1 4 102
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9 2 4 98
96
95
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10641064
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1024

110 J ’ u e’ 07
1 0 6 4 F e b ’ 07
107 J ’ n e’ 07
118% M ay’07
1 0 1 4 M ay’07
104 F e b ’07
94*4
94*4
95 F e b ’ 07
107 J ’ n e’ 07
1 0 6 4 J ’n e'07
107 J ’ n e’ 07
107 4 J ’ n e’ 06
10 0 4 J ’ n e ’ 07
9 9 4 J ’n e ’ 07
107 J a n >07
103 J ’n e ’07
113 4 A p r ’ 07
117 F e b ’ 06
105 4 D e c ’ 06
100-4 M ay’07
1 0 1 4 J ’l y ’ 07
120 J ’l y ’ 07
113 4 M ay’ 07
142 4 F e b ’02
1 2 8 4 S ’e b ’ 06
109 Sep ’03
114 P ly ’ 07
1 1 6 4 M a r’ 07
98
984
99*4 F e b ’07
874
88*8
97 J ’ l y ’ 04
92 4 N o v ’ 06
9 0 4 J a n ’ 07
93 M ay’ Ol
90*4 F e b ’ 07
84 M ay’ 07
694
694
79 D e c ’05

i o i* *
106 i
104
102

1004104
1 0 5 4 109
92
92
1004103
126 1 2 8 4
10841174

124 4 J ’n e ’ 07
1 1 1 4 J ’n e ’ 07
102 4 J ’l y ’ 07
105 4 M ay’ 07
102
102
104 4 O ct ’06
89 J ’l y ’07
1 1 5 4 O ct ’ 05
112 J ’n e ’ 07
105*8 M ay’ 07
109 4
1094
106 J ’n e ’ 07
1 3 7 4 J ’l y ’ 99
105 4 J ’ ly *07
1 0 0 4 J ’ l y ’07
182 4 A p r ’06
1 0 6 4 106 4
1 0 2 -a A p r ’ 07
105 4 J ’ n e ’07

102 4

894

100 105
104 107
1 0 9 4 116

1 0 1 4 J ’l y ’ 07
..........102
1 05 *4 ........ 1 0 5 4 J ’l y ’ 07
.......... 92
92 A p r ’ 07
100 4 ........ 100 4 J ’ l y ’ 07
127 ........ 128 4 J ’l y '07
108 *4........ 1 0 8 4
169
1 1 8 4 F e b ’06
1 1 3 4 F e b ’ 07
1 2 1 * 8 ........
..........109
1 0 2 *4 ........
l O i ’k ........
102 ........
101 ........

"99*i io ’6 ’4
9 7 4 10i

ibo 4 l()2«i
98 101
107 107
103 103
1134114*4
1 0 0 5* 102»*
10041014
120 123*4
113 1 1 3 4

21

114 117^5
1164 1164
9741004
99 4 99*4
8 7 4 91**
”904

904

90*4 "i»0»I
84
90
66
77' j
8 'J " " 91*4

1 1 6 4 J ’l y ’ 07
1 2 0 4 M ar’ (>3
111 N o v ’ 05

1144117

101
75
1064
109
110
81
108*4
93 4
109
107 4
90 4
1034
1104
70
100
72 4
79 4
99

100 108*4
75
85
1044113
109 1 1 3 4
110 110
81
89
10S*4 1 1 4 4

MLSCELLASEOIJS BONOS—Continued on Next Page.
S tre e t R a ilw a y
B r o o k ly n R a p T r g 5 s ........1945
1st r efu n d c o n v g 4 s , . ..2 0 0 2
B k C it y 1st c o n 5 s .lfifl6.1941
B k Q C o & S con g u g 5 s . 1941
B k ly n U n E l 1st g 4-6S.1950
Stam ped gu a r 4-5s ___ 1950
K in g s C o E l 1st g 4 s ___ 1949
S tam ped g u a r 4 s ..........1949
N a ssa u E le c g u g 4 s ___ 1951
C on n R y * L i s t * r e f g 4 4 s ’ 51
Stam ped gu ar 4 4 s ......... 1951
D en C on T r Co 1st g 6 s . . . 1933
D e t U n ited 1st c o n g 4 4 s . 1932
H a v a n a E le c c o n s o l g 5 s . 1952
In te r -M e t coU 4 4 s ............. 1936'
In t e r n a t T r a c c o ll tr 4 s .. 1049
, L o u is R y Co I s t c o n g 6 s . .19 8 0
M an ila E le c 1st & c o ll 5s. 1953

A-O 101
103
J -J
7 9 4 Sale
J -J 1 0 0 4 .........
M-N ..........100
F-A 1 0 1 4 Sale
F-A
F-A
F-A
81*4
J-J
8 1 4 83 4
J-J
101*4
J-J
97*4 .........
A-O
J-J
85
F-A
83
A-O > 7 4 4 75
J -J
694
69
J -.l
M-S .......... .........

1 *N o price Friday; latest price this week.




\

101 J ’l y ’ 07
100 107
92*8
794
80 4 i 1 A 79
1004 1004
a 10041034
lOO
100
1 100 1 0 1 4
101
2 100 108
1014
102 J ’l y ’ 07
102 104
87
89
87 F e b ’ 07
83*4 J ’l y ’ 07
83*4 8 8 4
86
79
82 J ’l y ’ 07
9 3 4 M ay’07
9841024
98*4 J’ ne’ 07
98*4 98*4
95 J ’ n e ’ OO
86*3 J ’ n e ’ 07
86 4 8 6 4
8 0 4 J ’ n e ’ 07
8 0 4 93
74 7* 25 7 2 4 82
74
73
6 68
69 4
69 4
109
98 M ay’ 06

aD ueJan

d D ue A p r

S tr e e t K a ilw a y
M et S t R y g e n c o l tr g 5 s .l9 9 7
R e f g 4 s ............................... 2002
B w a y & 7th A v 1st c g 5s 1943
Col & 9th A v l s t g u g 5 s. 1993
L e x A v * P F 1st g u g 5s 1993
T h ird A v e R R c o n gu 4s 2000
T h ir d A v e R y 1st g 5 s . .19 3 7
M e t W S E l (C liic) 1st g 4 s . 1938
M il E l R y & L 3 0-y r g 5S.1926
M in n S t R y 1st c o n g 5 s ..1 9 1 9
N O rl R y * L t g e n 4 4 s -.1 9 3 5
St J o s R y L t H * P 1st g 5s ’ 37
St P a u l C ity Cab c o n g 5 s. 1937
U n d ergrou n d o f L o n 5 s . .. 1908
U nion E l (C h ic) 1st g 5 s .. 1945
U n ite d R R s San F r s f 4 s . 1927
U n ite d R y s S t L 1st g 4 s. 1934
W C h ic 8 t 4 9-yr c o n g 5 s .1936

e D ue May c D u e J ’ne KDue J’ ly

F -A >100 ..........
A-O
J-D 1 0 6 4 1 0 7 4
M-S 109 1 1 3 4
M-S
J -J .......... 81
J - J 107 4 ........
F-A
F-A
J -J
J -J
M-N
J -J
J -D
72
A-O
A-O
"72*6
J -J
M N

A:Duo A u g

oDue Oct

J ’l y ’ 07
75
J ’ l y ’ 07
J ’l y ’07
M ay’ 07
81
J ’l y ’ 07
J 'l y ’ 06
J ’ l y ’ Oti
P e o ’06
S e p ’ 06
O ct ’ 06
N o v ’ OtS
70
J a n ’07
72 4
J ’l y ’ 07
De>c ’97

v D ue Nov

70
94
100 100
67
8*4
794 8f

s Option

'J

New York Bond Kecord—Continued—Page 2

268
tfOiSl#5>
N . Y . ST O C K E X C H A N G E
W k k k e n d in g a c g c s t 2

tr ic e
fYidav
August 2

C h ic R o c k i. & P a c— (Con)
C h oc u k & G ge n g 5s .01919 J -J
C on sol gold o s ............... 1952 M-N
K e o k <te J it s M 1 s t o s ___ 1923 A-O
"Chic m i.Jtn N O See 111 C ent
C h ic at Life P itts See Penn Co
C h ic s t P J 1 4 0 co n 6 s .. .1 9 3 0 J-D
C ons (5s reduced, to 3 4 a . 1930 J-D
Oh St P <fc M inn 1st g 6s 1918 M-N
■Is'or W iscon sin 1st 6 s . ..1 9 3 0 J -J
S t P & S C ity 1st g 6 s . . .1919 A -0
•ChiCago T e r T r a n s -g 4 s . ..1 9 4 7 J -J
Coupon o f t ...................................
Cliic<fc XV»■.■*! I na p en g 6s ?1932 Q-M
C on sol 50 year 4 s ............. 1952 J . J
d u e <ls W
icii bee P e r e M arq
C h oc u & t i u l l See C R I <& P
Cin H & D M gold 4 4 s . ..1 9 3 7 J -J
C m u & i 1st g u g 5s. ..1 9 4 1 s/J-N
C F in d & F t W J i t g u 4s
M-N
Cin I & W 1 st g u g 4 s . 1953 J-J
1m l D ec <fc W 1st g 5 s . ..1 9 3 5 J -J
l s t g u a r g o l d 5 s ............. 1935 J -J
O IS tL & i
see C O O & b t L
C in S i* C nee C C C S t L
C le a r tlHri 6c M ali See B 8 4 P
C le v C in c»fc s t L g e n g 4 s l 9 9 3 j - d
Cairo u iv 1st gold 4 s ___ 1939 J -J
Cin VV & M D iv 1 s t g 4 s . 1991 J -J
8 t L D iv 1st co l tr g 4 s ..1 9 9 0 Jl-N
R e g is te r e d ...................... 1990 Vl-N
S p r dc COl D iv 1st g 4 s ..19 4 0 .VI-S
W W Vai D iv 1st g 4 a ...1 9 4 0 J -J
C I b t 1. A; U con so l 6 s ..19 2 0 M-N
1st srom 4 s .................... /c l936 Q -f
R e g is t e r e d ............... £1936 Q-F
C in s & 01 eon 1 s t g 5 s . . 1928 J-J
C C C it i c o u s o l7 s ..........1914 j- D
C oi.soi » u ik .fu n d 7 8 ___ 1914 J-D
G enera. e o n a o lg o ld 6 s . 1934 j . j
R eg istered ...................1934 j . j
Inrt B l rti W 1st prer 4 s .1940 A -0
O ln d cfc \\ 1st pf 5 s ...t(1 9 3 8 Q-J
P e o & r.ast 1st con 4 s . . . 1940 A -0
I n c o m e r s ........................ 1990 A pr
d e v <te ->iarietta <se« P e n n R .lt
C le v <fc i'll is nee P enn Co
C o l M ldi.n.tt 1st g 4 s ..........1947 J . j
Colorau<..v xon 1 s t g 4 s . -.1 9 2 9 F-A
R eiu in t & e x t 4 4a ......... 1935 M-N
C oiu in <fc u reen v Hit So R y
O oi <te H o ck V al See H o ck Vai
C o l & T o i .See H o c k V a i
C ol C ou n A T erm See N & W
C o n n <te l'a s Uiva 1st g 4 s . 1943
ak & G i s o See C M <fc St P
alias ifc W aco See M K <fc 'X
© e l L a c k * W estern 7 s . ..1 9 0 7 M-S
M o r r i s * t s s e x I a t 7 s .. . l 9 1 4 M-N
1st c o n s o l guar 7 s ........1915 J-D
R e g is te r e d ...................1915 J-D
1 st ret g u g 3 4 a ........... 2000 J -D
N V l^ a c k * W 1st 6 a ...1921 j . j
C on s tru ction 5 s ........... 1928 F-A
T erm & im p ro v e 4 s ___ 1923 m-N
W arren 1st r e f g u g 31-28.2000 F-A
© e l «fc H nn 1st Pa D lv 78.1917 M-s
R e ’.'isierert...................... 1917 M-S
10-yr oon v d eb 4 s ........... 1916 J-D
A lb & mus c o n v 3 4 s ........1940] A -0
K eno <te > a m o s a ls t7 s.l9 V J l M-N
D el R iv it 11 B ridge see Pa K it
D e n v iv k i,,r 1st cou g 4 s . l 9 3 6 J -J
Con»-K scold 4 *28............... 1936 J-J
Im pior>>iiienl irold 5 s ...1 9 2 8 J-D
R io wt j tine 1st gu g 58.1939 J -D
R i o v r s 'o 1st gold 4 s ___ 1940 J -J
G u i i n i t e e d .................... 1940 J -J
R i o G r W eat 1st g 4 s ___ 1939 J -J
M g e a iid c o lt r u s t 4 S A .1 949 A -0
U tah C ent 1st gu g 4 s a l9 1 7 A -0
D es M oi <fc F t 1) see M & S t L
D e a M o i Un R y 1st g 5 a ..1917 M-N
D e t <fc M ack 1st lieu g 4 s . l 9 9 5 J-D
G old 4 s ................................. 1995 J-D
D e tro it S ou th ern —
O hio S ou Drv 1st g 4 s . ..1 9 4 1 M-S
D u l& Iron R a n g e l s t 5 s . . 1937 A-O
R e g is te r e d .................. .......1937 A-O
2d 6 s .....................................-1916 J -J
JDul S hort L in e See N o r P a c
D u i S o ."■nore & A t l g 5 s ..19 3 7 J -J
l'astor .Minn <V«eStPM<fcM
-fast l eu Va & G a See So Ry
E lg in .jo.
East 1st g o s . 1941 M-N
K lni Coi t dc N o See L e h & K Y
\Sne 1st ext sold 4 s ............. 1947 M-N
2d e x t cold 5a.................... 1919 M-S
3d e x t Roif! 4>23.................1923 M-S
4 th e x t coin 5 s ...................192U A-O
8th ex l gold 4 s .................. 1928 J-I>
ls t c o u s o t gold 7 s ............. 1920. M-S
.1st consul g fund 7 s ........1920"M-S
Ent> jsi cou g 4 s p r i o r . .19 9 6 J -J
R etiixiered ...................... 1996 J -J
1st cousot sten lien g 4 s . . 19913 J - J
R e ir m e r e d ...................... lOOfe J -J
P en n c o d tr n 4 s ............. 1951 F-A
6 0 -y e a r c o n v 4s A ......... 1963 A -0
do
S erie s B . . . 1953 A -0
B u n .V Y«fc K rle 1 s t 7 s ..1 9 1 6 J-D
B ull «*-s \V gold 6 s ..........1908 J -J
C lilc A: f-rie 1st so ld 5 s . .1982 M-N
d e v A: -UUllOIl V al g 08.1 9 3 8 J-J
J eft J iii l s i g u g 5 s ___ a l9 0 9 A-O.
L o n * t>oc k co n s o l g 6 s . .19 3 5 A -0
O oai * R R 1st cu r g u 6s. 1922 M-N
D ock de Im p 1st c u r 6 s . .19 1 3 J -J
N J * <ireen L g u g 5 s . 1946 M-N

D

WeeiCs

3t:

Range
Since.
Last Sale i^'C January J
K anqe ot

A 3 k 'Low
......... 109
.........11 U
......... 103

|So

12734 ......... 128
128H
93 D e c ’ 03
124SJ......... i 13 m F e b ’07
.....................I1293, M a r’04
1 1 7 ^ ......... j 1 1 7 :ts, J ’ 1y ’ 07
.....................i 97 A u r ’ i/7
.....................109 Vi M ay’07
10y*8 ......... 110
110
..................... i 97 A p r ’07
113
102

126’-4 131
1 3 1 4 131 "l4
i ’l 6 ^ \-joK
97 34 9 7 :i4
97 10Hi4
109 4 113
9 7 78 98

Oct. *00
J ’ ne’ O

102

105 4

83 83
1044 105

83 J a n ’07
104 W F e b ’ 07
107 D e c 02

96 *2 98

99
98
9 !>3g J a n 'o 7
9 7 l4 A p r ’ 07
9 3 4 9 4 J4' 93 4
94
97 Jan ’07
99*4 F e b ’ 05
91
98 Sep ’ 06i
11)4^
105 J a n ’04]
98
97
98 >4 A p r ’07:
106 *0......... 1109 J ’n e ’ 07j
1 1 5 4 ......... 1 1 8 4 J a n ’ 07

97 ■*> 99
98 4 9 9 4
109 1 0 «
11841184

127

127

96 4
993s
97
93
97

Ul:

129*).; 127

J ’l y ’ 071

............... :................... !

102
99=%
98 4
9 8 3^
07

132

..................... ; 104 4 -Nov’Ol {
90= b......... | 90 ‘4
90*.
. . . . . . 5 9 4 ; 60 J ’ ly ’ 07;
65
88 4
.........

663« 744
87■•'g 94 4
95 95

102 <4 May’07 -

10141044
117 4 117 4 D) 117 4 117 4
I 2 l « s A p r ’07 ]----- m a g 121»f.

116 4
I 1 7 a4

127

ns34:
106 4 .

J ’ u«’051-

123 J ly ’07 . . . . 122 1 2 2 4
109 4
1 109 1 1 1 4
1094
97 J ’l y ’ 07i —
97
97
102 F e b ’ 03]
133 F e b ’ 06
149
A u g’ 01 ■
97 1113 94 4 1 0 9 ^
96
9334 J ’l y ’07 ... - 92 110
133 4 D e c ’06j —

123 4 .

121 .
96^4 I
93 .
128 .

934.

93*8; 4 92
93=8
9734
10-^4 Jan ’ 07 — 102 4 1 0 2 4
105 4 F e b ’ 07 . . . . l"04'!4 106 4
109 M ar’ 05] —
76 D e c ’05: —
89 Jan ’ 05|....
904:
1 90 4 95
904
87*4 F e b ’ 07j
8734 8 7 34
97 Jan ’ 0 2 ' —

98s !

78

93

110
92
89

90

107

95
7 2 34

66 I 663i
6 6 34i
^
87 4 87»b
8W 4 ^
9 0 :>4i 95 F e b ’ 07 . . . .

103

S e p ’04 :M a r’o7 A p r ’07 j-

92
92 4

86 O c t ’061.
107 J ’l y ’ 0 7 .
1*09* 112 4 F e b ’ 06' ■

107

1114

T
....... 110 J’ly’07 ....

i

100
107
103 4
1074
96
127 4
9^

1 1 0 34 1 1 0 34

1074
107 4
103 4
108
100

107 4 1 0 9
103 4 1 0 3 4
108 108

J an ’ O e J -J ’ n e’ 0 7 !. .
M ay’07 i--.
J ’ly ’ 0 7 ]...
J ’ n e’0 7 i ...
1284;

133 F e b ’ 06
934
93 4
9 9 4 O ct ’ 06
794
80
85 4 F e b ’07'
83
83
8 0 4 J ’l y ’07;
693g
694j
117 4 J ’ ly ’ 071
104<>a F e b ’06
115
115 I
1 1 6 4 Jan ’051
100°8 M ay’07
L26 M ay’ 071
118 Sep ’ 06]
1 0 9 7e O ct ’ Ooi
1 2 1 4 D e c ’ 06!

79 **8*6“
768
8
83

Saic
80
70

117*8

US
107
100 4

.......

130

104
107

j

\

100 100*8

125

1294

"91** ’ 9 9 4
" 7 9 4 "h s"
854 854
80
914
69'\ 1 o 3 34
70
87
1164 1204

1144 119
10 0 4 101
126 130

L eh igh V al (P a) eons g 4 s . 2003
Leu V T e r R y 1st g u g 5s . 1941
R e g is te r e d ..........................1941
Leh V Coal Go 1st g u g 58.1933
Leh & N Y 1st g u a r g 4 a ..1945
R e g is te r e d ..........................1945
E l C & N 1st pt O a ........1914
G old gu a r 5a...................1914
L eh & H ud R See C en t o f N J
Leh <fc W ilk ea b See C en t o f N J
L e ro y <fe Caney V a i See M o P
L o n g D o ck See Erie
L o n g In l’ d—1st con g 5s. ft.1931
1st co n so l g old 4a......... /tl9 3 1
G en eral gold 4 s .................1938
F e rry gold 4*38.................1922
G old 4a................................. 1932
U u itled gold 4 s .................1949
D e b e n tu re gold 5a........... 1934
G u ar ref g o ld 4 a ...............1949
B k ly n <fc M o n t l a t g 6 a ..1911
N V B & M B l8 tc o n g o 8 l9 3 b
N Y & R B l s t g 5 s ........1927
N o r SliB la t co n g guGa o l9 3 2
L ou isia n a & A r k 1st g O s.1927

i-ri ce
Wee/c’ s
tYidav j Range or
Avgust 2 \ Last Sal-e

lxxxv.

I3__ i

Range
Si m e
January 1

Hid

N V Sua <fc AV la t r e f 5 a .l 9 3 r 1J-J
2d gold 4*2$.
..
193'" 1F-A
G eneral gold 5 s ............. 194t F-A
Term inal I s l s<old 5 a ...194 3 M-N
R e g is $5,000 e a c h ...1 9 4 3 ! m - n
M i d R U o l X J l s t g l i s . 191(J A -0
Wilk<fc Ea 1st gu g 5 s . 1942 J-I
-Cvdj Ind 1st con g u g 6 s ..l9 2 (> J-J
E rie & Pitta See P en n Co
J1st general g old 5 s ..........1942 A -0
Alt V ern on 1st g o ld 6 s ..1923 A -0
A -0
L 'a r g o <fc So See Ch M <k St 1
• ImuSi P ere Al Nee P ere Mar
Ela C & P e n in Nee Sea A ir L in e
F ort St U D Co 1st g 4 ‘*28.1941 J- T
Ft W <fc B e n C 1st g 6a___ 1921 J-D
Ft W <fc R io G r l s t g 4 s . ..1 9 2 8 J - J
f 'a t H ar <fe S A See So P a c Co
V ^ alH ife H o f 1882 la t 5 a .1913 A -0
G eorg ia <fc A la See Sea A L in e
Ga Car & N o r See s e a A Line
G e o rg ia P a cific see So R y
G lia V G <fc N o r See So P a o Co
G o u v <fc O sw e ga t See N Y Cen t
G rand Rap & In d See P en n R R
G ra y’ s P t T erm See St L S W
G t N o r —C B & Q eoli tr 4s 1921 J -J
Q -J
G reen b rier R y See Clies & 0
G u lf <fc S I ls t'r e l & t g 5s &1952 J -J
L| an & 8 t J o See C B & Q
1 1 o u sa ton ic See N Y J i H i 11
H o ck V a l la tco n s o lg 4 * 2 8 .1 9 9 9 J -J
R e g is te re d .......................... 1999 J -J
C ol & H V 1st e x t g 4 a ..1 9 4 8
Col & T o l 1st, ex 4s
1955 F-A
H ou st E <fe W T e x See So Pac
H o u s t& T e x Cen See So P a c Co
1 llin ois C en tral 1st g 4 s . .1951 J-J
x R e g iste re d ...................... 1951 J-J
1st g o ld 3*28...................... 1951 J . J
J-J
E x te n d e d la t g 3*28........1951 A-O
1st g o ld 3 s s t e r lin g ......... 1951 M-S
Coll T r u s t g old 4a........... 1952 A -0
R e g is te r e d ...................... 1952 A -0
L N O & T e x g old 4s ...1 9 5 3 M-N
M-N
C airo B rid g e gold 4 a ....1 9 5 0 J -D
L o u is v D iv & T e rm g 3 ^8.1953 J -J
M id dle D i v r e g 5 s ........... 1921 F-A
O m aha D iv 1st g 3 s ........1951 F -A
St L o u is D iv & te rm g 3 s .l9 5 1 J -J
R e g is te r e d ...................... 1951 •J-J
G old 3*28...................
1951 J - ,|
R e g iste re d ...................1951 J - J
S p rin g D iv 1st g 3*2S...1951 J -J
VV estern L in es l a t g 4 s ..1951 F-A
B ellev <fe Car 1st 6 s........1923 J-D
Carb <ft Sliaw la t g 4 s . .. 1932 M-S
C h ic S t L & N O g 5 s . . .1951 J-D
R e g is te r e d ...................... 1951 J-D
G o ld 3 % s ..........................1951 J-D
J-T)
M ein ph D iv 1st g 4 s . . .1951 J -D
St L S ou 1st g u g 4 s ___ 1931 M-S
In d B l & W e s t See C C C & St L
In d 111 & l a 1st g 4 s . ........1950 J -J
I n t & G rea t N o r l s t g 6 a .. 1919 M-N
M-S
3d g o ld 4 s ............................1921 M-S
Io w a C en tral 1st g o ld 5 a .. 1938 J-D
G old 4 s ................................. 1951 M-S
J e lierson R R See E rie
l / a i A & G R See L S & M S
x V a n & M ich See T o l & O C
K C F t S & M See St L <fc S F
K C & M R & B S e e S tL < fc S F
K an C & P a cific See M K <fc '1
Kan C ity Sou 1st g old 3 s . .19 5 0 A -0
R e g is te r e d .......................... 1950 A -0
K e n tu c k y C en t See L & N
K e o k <fc D es M o See C R I & P
K n o x v ille & O hio See So R y
I ake E r ie & W 1 st g 5 s .. 1937 J -J
l~t 2d g o ld 5 s ........................ 1941 J -J
N o rth O h io 1st g u g o a ..1945 A-O
L Slio & M ic h S See N Y C ent
L eli V a l N Y 1st g u g 4*38.1940 J -J
j

1 1 0 \ J ’n e ’ 0 7 j...

1284

1

BO \D>
N . Y. ST O C K E X C H A N G E
W eek E n ding A ug us i 'J

Uigh \No Low JJiy/i E rie— (Con)

N o v ’ 06|---M ay’06
J ’n e’07

[V o l .

. j

M-N
A-O
A-O
J-J
M-S
VI-s
A -0
A -0

A sk Low
H igl No Low
103*2 J ’l y ’ 07
108
100*4 D e c ’ Ot
100 Si F e b ’07
100*2
1 10%
110% ........ 110% M ay’07
106

104%
......... 105 ^

......... 103*1

ib*s% il) 4 *2
105*2 105*2

116 J ’ ne'O'i
103 *2 J ’l y ’ 07 1

116 116
103 *2 106%

105 M ar’ 98
107
108
82 *2
S2 *-,
100

93*8 Sale

102

9

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

3

M ar’ 07

3

J ’ly ’ 07

104*8 102
103

102
N o v ’OI)

99

A p r ’ 07

103

98%
96 *a
102>n

1 100»4 105*4
99

89 M ar’07
101 *8 Oct ’ 99
100 N o v ’OO
99 78 ......... 100 Hi A p r ’ 07
122 D e c ’ 05

’s

89*4
88%
98

104 >2......... 104 J ’l y ’ 07
107 *6 A p r ’ 07
100 J ’n e ’ 07
98**
95*2 J ’l y ’o o
97*., 99 *2 J ’ ne’ 06
70 n e t ’04 . . . .
100 J ’ l y ’ 07
"vs"
98 M ay’Ol
” 93*4 i b o " 98*2 J ‘u e ’07
97 M ay’07
102*4 Jau ’ 07
‘ 88** •‘9 0*‘ 89 M ay’07
123 M ay’ 99
78*2 A p r ’06
......... 80
7 8 34 F e b ’ 07 .....

98
97

106*2 112
82*2 87
100

9334 202

98

116*8 . ..

110*2
11*3
1104

l i u K j ’f y ’07
105 *2 A p r ’ 07
116 A p r ’ OO

106*4 F e b ’Ob

106 108
82*2 85

Jiigh,

99

104 104
107% 107%
100 100%

98 102 >4
98
98
98*2103 *a
97
97
102 ■
’i 102%
89
91
7834 78%
88*4
100 Si 102

118*4 A p r ’07
119^4 M ar’04
93*8 M ay’ 04

118*4118*4

100 *2 M ay’ 07 ----- 100*2 100**
„
......... 97 M a r ’ 07
97
97

113 115
97 *q 98
63
7 5s4
102
79*2

6S*2 Sale

93*2 M ay’ 07
112 J ’ n e ’ 07
98 J ’ l y ’ 07
65 J ’ l y ’ 07
101 J ’ l y ’ 07
82 J ’n e ’ 07

09*2
09^
63 O ct ’ 00

93*2
111
95
65
101
82

12

*
111 *2 112 > 111*2 J ’l y ’ 07
104*5 108
107 J ’ n e’ 07
109
110 A p r ’ Oi

100
115*t
99%
79
111
85

87*2 73

111 114
106*2 107%
110 110%

105% Sale

105 78 105
11 U)4a4 107%
106 M ay’ 07
106 lOtf
95 O ct ’ 06
......... i ’u *4 112*2 112 *v " 2 il*2‘*2 i 13**4
109 *2 O ct ’99
112*2 M ay’ 07
112*4 i*134
95>„ 96%
95
......... 95% J’n e ’07
99*2

113 78 J an ’00
I0o l4 Jan ’ Ol

1103.

1103,

Q-J

111-%

J-D
M-S
J-D
M-S
J-D
M-S
M-S
M-S
A-O
M-S
Q-J
M-S

I 92
94 J ’ ly ’ 07
* 98*8 102 N o v ’ 05 ; ; ; ;
99*4 O ct ’ 06
‘ ‘94*«s 9 4 7s A p r ’07 . . . 9*4
110 J ’ ne’ 04
94% 95*2 95 *2 J ’ly ’07 . . . . 94*2
104%
1006*
100 M a r ’07 . . . . i b o
105
110*4 N o v '0 6
105 A p r ’ 07
105
I
109 N o v ’ 06
1i o ‘3 '4
103 *2 F e b ’ 07

1

H O 3* 114%
9 ‘J
’ 95 *2
99%
ib T %
109^
103*2

MISCELlANfiOUW BONDS—Continued on Next I’ase.
<in.s linn E le c t r ic L ig h t
A tla n ta u L Co l s t g 6 s ...1 9 4 7
B k ly n I' waa 1st c o n g 5 s. 1945
B u tiaio G as i st g 5 s ............1947
C on sol Gas c o n v deb 6 s . . . . 1909
£>etroit C ity G as g 5 s ..........1923
X>et G as Co c o n 1st g 5 s . ..1 9 1 8
E d E l l U h k u 6 'e e K O o E L < fc P
Sid E 111 bee N Y G & E L H & P
K q G L N V 1st c o n g 5 s ..1932
G a a oi K i-c B erg C o c g 5 a .1949
G e n E l f u i n e d eb s 3 4 s . .1942
10-yr g d e b 5s (s u b s crip ) 1917
<Jr R»i< « u C o 1st g 5 s . ..1 9 1 5
H u d s o n 1 0 G as 1st g 6 s . .1949
K ail C ity 1.Mo) Gas 1st g 5s 1922
K in g s Co »'.i L<fc P g 5 s . . . 1 937
Pxircn.»*e m on ey 6 8 ..t . .. i 9 9 7
E d Ei li Bkn l s t c o n g 4 s 1939

J -D
M-N

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

F-A
M-N
A -0

A-O
A-O
J-J

1014

102

119

Sa le
Sale

66

97%

....

101

....

109
*1024

86

Sale

.....

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

101 •*

66

1014
66

119
121
97 >* J ’ l y ’ 0 7
100 A p r ’ 07
105 F e b ’07
6 ! >- O c t ” 01
8 6 4 A p r ’ o7

108%
1073!

D e c ’0 0

98

J ’ ly ’ 07
D o c ’06

102

HO

*1*1*6*w M ay’07
93*- M a r’ OO

12 1 0 1 4 107 4
6 63
73 4
19 116 1 3 9 * 4
97 4 100

100 100

105

105

87
80
144 108% 1 1 0 4

102

104

.......

ii'o*” i i . 7 "

Gn.s n n d E l e c t r i c L ig h t
Lac G as L o f S t L l a t g 5 s .e l9 1 9
R e f and e x t 1st g 5a........1934
M ilw au k ee G as L 1st 4 s . .1927
N Y G E L H & P g 5 s . ..1 9 4 8
P u rch a se m o n e y g 4 s . ..1 9 4 9
E d E l 111 1st c o n v g 5 s . .1910
1st co n so l g old 5a..........1995
N Y & Q E 1 L<fcP 1 st con g 5 s l9 3 0
N Y <fc R ic h G as 1st g o s . 1921
Pa't & P a s G & E co n g 5 s. 1949
Peo G as & C 1st co u g 6s. 1943
R e fu n d in g gold o s ........... 1947
Ch G -L <fe C k e 1st g u g 5s 1937
Cou G C o o f Ob 1st g u g 5 s .’36
M u F u e l G as 1st gu g o s . 1947
S y ra cu se L ig h tin g la t g 5 s .’ 61
T re n to n G <fc E l 1st g 5 s .. 1949
W e stch e ste r L ig h t ’ g g 5 s .l9 5 0

103
103 |
101*4 1 0 1 V
9 1 4 J a n ’ 07;.
9 s 7e 99 J ’n e :o7 .
F-A ■ 7 9 4 Saip
79 4
82 4 !
100 |
M-S
100 100*g 100
J-J
1 1 3 4 J ’ n e’ 06 .
F -A
**98 4 95 A p r ' 0 7 !.
96
M-N
103 N o v ’ 05],
M. S
10434 N o v ’ 0 5 l
A -0
l l 6 4 . l ’n e’ 07l.
100% M ay’ 07 .
M-S -100 4
J-J
100 J ’l y ’ 07 .
J-D
*99** 100
101 4 M a y ’ o7 .
M-N
99 4 100 J ’ u c ’07
J-D,
1 0 4 4 ] .........................'
M- b l
......... 110 M ay’0 5 ].
J-D
......... !1 0 1 4 F e b ’ 0 7'.
A-CH
M- N
J-D

-101*4
1 0 l 34 Sale

89

1014
1004
914
984
79 4
99

1054
1024
914
1034
8 4 7«
101

9 5 **

9 9 **

..11 1 6 4 U 9 4
..I0 0 * e 103 4
. . HlOO
1064

.J IOC4 108

..HlOO

100

ilOi 4 102

N o price Friday; latest bidand asked this week, v D u eJan 6 Due Feb d D u e A p r e D u e lla y /iD u e J ’ly ZcDueAug o Due Oot ® Dae Dec /OntionHaiw




A

ug.

N . V. S T O C K E X C H A N G E
w kkk E nding a u g u s t 2

~ c
cx

Fri.ce
F rid a y
A u g u s t?

W eek’ s
R ange or
Last Sale

§1

Jcanj/e
Since
J an u ary 7

B id
Ask Low
JHigh. No Low H iafi
115 J ’ n e’ 07
1 1 4 4 117
ILouisv & N a s liv g e n g 68.1930 J-D
108 117*4
G old u s................................. 1937 M-N 111 ......... 108 M a r’07
9 8 l*
9 6 7g 101 \
9 8 4 9 8 4 98
■Unified gold 4 s .................1940 J -J
1 0 1 4 J ’l y ’06
J -J
107 D e c ’ 05
A-O
1 0 6 4 J ’l y ’ 07
1 0 5 4 109
C oll tru st gold 5 s ............. 1931 M-N *105 4 1 0 6
95 J ’ l y ’ 07
112*4 98
9 4 4 95
-6-20-yr co l tr deed g 4 s . 1923 A -0
112 113 >1;
113 4 May’ 07
E H & N a sh 1st g 6s ___ 1919 J-D 1 1 1 4
L C in <fc L ex-gold 4 4 s . . .1931 M-N 103 ......... 109 M ar’ 05
125 7e M ay’ 07 . .. . 121 1 2 5 7g
H 'O & M 1st g old 6 s . ...1 9 3 0 J-J 1 1 9 4
......... 120
1 2 2 14 M ai ‘ 06
J-J
1 0 7 4 A u g ’ 06
P en sa cola I )iy g o l d 6 s . ..1 9 2 0 M-S
i ’n ” i'2 0 "
S t L, D ir 1st g o ld 6s ........1921 M-S i '1 2 " I I I I " 117 M ay’ 07
7 2 4 F e b ’07
724 724
2d gold 3 s ........................ 1980 M-S
85
88 4 116 J ’ly V 6
A i l K n ox <& N o r 1st g5sl94<5 J-D
1 0 8 4 Jan ’06
H e n d e r B d g e l s t s f g 6 s. 1931 M-S
93 4 ......... 95 J ’ n e ’07
95
97 5g
K e u tu o k y C e n t gold 4 s . .1987 J -J
108 J ’ l y ’ 06
JUAN & M <fe M 1st g 4 4 s 1945 M-S
HO" "9*2
87 4 A p r ’ 07
Lcfc N -S outh M )o in t4 8 .1 9 5 2 J -J
1 1 3 4 M ar’ 07
1134 1134
N F l a A S 1st g u g 5 s . ..1 9 3 7 F-A m i "
.....................
JST& C B d g e g e n gu g 4 4 b 1945 J -J
112 Jan ’(>7
112 112
P e n s & A tl 1st g u g 6 s ..1921 F-A
1094111
S & N A la co n g u g 5 s .. 193(5 F-A 1 0 7 4 ......... 111 M ay’ 07
97 M ay’06
t j & Jeff B d ge Co g u j g 4 s . . 1945 M-S
1 N A 4 Ch See O I & L
a lion Coal See L S & M S
95 4 100<ss
9 7 4 98 H 97 4 J ’ l y ’07
1*1 anh attan R y co n s o l 48.1990 A -0
104 A p r ’05
R e g is te re d ...................1990 A -0
lOO"8 J 'l y ’ 0 ? : : : : 100 4 103 4
M etrop oi E l 1st g 6 s___ 1908 J -J 101
M c K ’ p t 4 B V See N Y C ent
M etrop olita n E l See M an R y
3 77
81 Salt
81
81
86
M e x C en t c o n s o l g old 4 s . .1911 J -J
21
22
21
2 1 4 40 19 4 27*,
1st c o n so l in co m e g 3s.<xl93!i J ’ ly
15
4
J
’l
y
’07
14
21
15
4
18
8d c o n s o l in co m e g 3 s . .a l 9 3 9 J ’ly
E q u ip & c o ll g old 5 s........1919 A -0
M e x l n t e r n a t l s t c o n g 4 s .l9 7 7 M-S ......... 9 0 4 90*8 J ’l y 'o i
105 M ay’ OO
M e x N o rth 1st gold 6s ___ 1910 J-D
M ioli C en t See N Y C en t
\ .
M id o f N J £ e « E r ie
M il L S & W See C h ic & N W
MU & N o rth See Ch M & St P
130 M ar’ <)7
130 130
M inn <fc St h 1st g o ld 7 s . .1927 J-D
105 A p r ’07
105 105
J-D
118 J a u ’ OT
118 1 1 8 4
P a oitic Kx 1st g o ld 6 a .. .1921 A -0
113 4 M ar'O j
S ou th W est E x l s t g 7 s . 1910 J-D
108 M ay’07
., . 107
i'0'5 4 i ‘1 6 4
1st co n s o l g o ld 5 s ............. 1934 M-N
2 87
87
87
94
1st. an d r e fu n d g o ld 4 s . .1 9 4 9 M-S ......... -87
___
y6
97 A p r ’ 06
D es M & F t D 1st g u 4 s . . . ’35 J -J
Sdinn
S t I) g u S e e B C E & N
98 J 'n e ’ 07
96
99
M St t»«fc ^ S M o o n g 4 i n t g u ’ 38 J -J
102 J ’n e ’07
102 102 4
M S s Jl as A l s t g 4 1 n t g u 1926 J -J
M in n L n . y f S t P M & M
96 Sal*
96
96 4 18 9 4 4 98*4
M o Kan A T e x 1 s t g 4 s . ..1 9 9 0 J-D
84
87 4 64 80
84 Sale
88
2d wont 4 s ..........................p i9 9 0 F-A
101 J ’l y ’ 07
1004105
1 s t e x t void 5 s...................1944 M-N 100*4 104
" i 81
83
83
83 Sale
86
1st <fc re fu n d 4 s .................2004 M-S
10 83
84*4 85
85
85
88 4
G en s f 4 4 s .................... 1936 J -J
87
84 M ay’ 07
82
87
S t L l u v 1st re f g 4 s ___ 2001 A -0
104 4 1 0 4 4
D al A W a 1st g u g 5 s . ..1 9 4 0 M-N 103 ......... 104 4 Jan ’ 07
95 “-j A p r ’07
K ail (J <fc Pac 1st g 4 s . ..1 9 9 0 F-A ......... 96
9 5 4 95 4
l06*«iM ay’ 07 . . . . > 0 6 4 1 1 2
M o K * E 1st g u g 5 s . . .1*942 A -0
105 4
M. K * Ok l u t g u 5 s ........1942 M-N •......... 105*8 106 4
104 4 1 0 7 4
103 J ’ly ’07
102 1 0 6 4
, M K <to T of T 1st g u g 58.1942 M-S
" a 104 105
105
Slier .->h A- So 1st gu g 5 s . 1943 J-D i b s " Sale 105
1 0 3 4 M a j’ o7
103 4 1 0 7
T e x <fc ( >kla l s t g u g 5 s . . . 1943 M-S
115% 120
U o P a cific 1st c o n g 6s . ..1 9 2 0 M-N 1 1 6 4 i l f ** 115*8 j ’n e ’07
191*4 '" 5 1 0 0 4 1 0 5
T r u s t void os sta m p e d .a l9 1 7 M-S lO l** Sale 101 \
1 0 7 4 F e b ’06
R e a is t e r e d ...................a l9 1 7 M-S
99
" 6 99" i o s "
1st coil tfo ld 5 s ...................1920 F-A ” 9*9 " S a le ’ 99
3 86
»6
86
86 Sale
90
40-vear t o ld loan 4 s ........1945 M-S
96 4 97 4 97 4 M ay’07
97 4 98
3 d 7s e x td at 4 % ...............1938 M-N
90 J ’n e ’ o7
89
92
90
96*4
C eifi Hr liy 1st g u g 4 s . 1919 F-A
92 A p r ’ 07
C eu B ranch U P l s t g 4 s . 1948 J-D . . . . . . 90
92
924
110 M ar’ 05
L e ro y * C V A L l s t g 5s 1926 J -J
i ’0 1 ” i b i *4
P a o K of M o 1st e x g 4 s . 1938 F-A " 99*4 i b i ” 101 J ’i y ’ O;
2d ex ten d ed g o ld 5 s . ..1 9 3 8 J -J 1 1 1 4 ......... 1 1 6 4 M ar’07
116 1 1 7 4
"3 1094114
110
S t L 1 r .Al .fe S gen co n g 5 sl9 3 1 A -0 109 1 1 0 4 110
1 0 9 4 J ’ n e’ 07
10941104
G en oon s ta m p g td g 5 s 1931 A -0
84 4 Sale
84
81*4 11 80
U n ified & re f gold 4 s . .1929 J -J
884
88
2 85
92 4
88*8 9 0 4 88
R iv & (i D iv 1 st g 4 s ..1 9 3 3 M-N
107 4 A p r ’06
V erd i V U W l s t g o s .1 9 2 6 M-S
I
I
"
"
‘
8
9
4
98
D
e
c
’
06
JMobJ & K C i s t co n s g 5 s .l9 5 3 J -J
123 4 M ay’07
1 2 1 4 124
O iob & <)ln o uew g o ld 6 s ..1927 J-D
122 D e c ’ 05
1st e x ten sion gold 6 s ..ft l9 2 7
83
" '3 " 8 3 " " 9 4 "
* 8 3 " Sale" 83
G en eral ito ld 4 s .................1938 u
M ontuoni D iv 1st g 5 s . .1947 F-A 1 0 2 4 ......... 108 4 M ay’07
1084 1084
92 4 A u g ’ 06
Bt L <k C airo coU g 4 s ..e l 9 3 0
101 N o v ’04
G u aran teed g 4 s ........... 1931 »
M <& O coll 4s See S outhern
M ollftw k & M al See N Y C & H
M ononiiiihela R iv See B & 0
M o n t C en t See 8 t P M & M
M orga u's i^a & T See S P Co
M orris
K ssex See D el L & \V
6 114*8 118*8
115 115*4 115*4 115*4
KJ ash C hat & S t L i s t 7 s .1913 j . j
A* 1st cou sol g o ld 5 s ..........1928 A-0. 11*2 4 ............. 1 1 2 4 J ’l y ’07
1114116
1 1 6 4 M ay’ 07
Ja s p er B ran ch 1st g 6 s . .1923 J-J
1164116 4
117 4 M a r’05
M c M M \V& A l 1st 6 s .. 1917 J -J
113 J ’l y ’ 04
T & 1 ‘ B ran ch 1st C s .... 1917 J -J
W ash 1* lor ifc Sliet See L & N
N a t o f M ex prior lien 4 4 s . 1926 J .J
89*« J ’l y ’ 07
9841024
8 1 4 J 'l y ’ 07 m i 8 1 4 8 7 4
1st con sol 4 s ...................... 1951 A-O
82
83
N e w H & 1> S e e N Y N H & H
K J J u n e K it S et N Y C en t
N e w i t i i i B d g e See L o u & N
N O & N E p r io r lien g 6s 1/1915 A-O
N V B kln A M an B ell See L 1
N y Cent & H R iv g 3 4 s . 1997 J -J
9 0 4 9 0 4 904
90a« 56 89*4 9458
9 0 ......... 90
R e a is te r e d ...................... 1997 J -J
90
2 89 4 93
94 . . . . . . 94 4
99
D e b e u g 4 s ........................ 1934 M-N
14 93
95
L a k e Shore c o l l g 3 4 s . ..1 9 9 8 F-A
8 2 4 85
84
84
6 8 2 4 884
R e g is te r e d ...................... 1998 F-A .......... 80
83 J ’l y ’07
8 1 ;l4 87
M id i C en t c o ll g 8 4 s ___ 1998 F-A
83 4
84 ‘ *2 80
fc74
R e g is te r e d ...................... 1998 F-A * ....... 83
84*4 84s4
84*4 J a n ’07
B eech C reek 1st g u g 4 s .l9 3 6 J -J
98 ....... 102 E eb ’ 07
102 1024
J -J
102 Mar’04
J -J
B eech Cr E x t l s t g 8 4 s & 1 9 5 1 A -0
M IS C E L l 1N K O U *




BONDS
N. Y. STO C K E X C H A N G E
W ekk E from n A u g u st 2

P r ic e
F r id a v
A u gu st 2

R a n ge
Since
J an u ary 1

W eek’ s
R a n ge or
L a st Sale

B id
A s k Low
H ig h
N Y C en t & H R— ( C on tinued J
9 6 4 ...
Cart <fc A d 1st g u g 4 s . ..1 9 8 1 J-D
G o u v & O s w e l s t g u g 5 s 1942 i - D
97 4 M a r’<)7
99 4 ....
M oll <fc M ai 1st g u g 4 s . .1993 M-S
105 O ct H»S
N J J u n e it t u 1st 4 s . ..1 9 8 6 F-A
1 0 1 4 J ’ ly ’ 06
N Y <fc H arlem g 3 4 s . ..2 0 0 0 M-N
110 4 M ay'07
N Y <fc N o rth 1st g 5 s . .. 1927 A-O 110
1 0 1 4 D e c ’06
N Y & P u l s t c o n gu fr4s 1993 A-O
N o r <& M o n t 1st g u g 5 s .1916 A O
137 N ov
Pm e C reek r e g trnar 68.1932 J -D
110 4 J 'n e ’ 07
R W & O co n 1st e x t 5 s. A1922 A - 0 110*8
113*4 Jan ’02
O sw e & R 2d gu g 5 s . ..* 1 9 1 5 F A
R W d fc O T K l s t g u g 5 s .l9 1 8 M-N
1 0 6 4 G et "’I if.
R u tland 1st co n tr 4 4 s . . 1941 J -J
91*4 94 M ay’07
Og«fcLCham l s t g u 4 s g l9 4 8 J -J
9 4 k 94 M ay’ 07
litit-C anad 1 st e u g 4 s . 1949 J -J
122 J a u ’06
8 t lja-w <fc A d ir 1st g 5s.l!>'.>6 J -J
2d gold 6s ........................ 1996 A-O
103 7- A n g ’ 06
U tica <fc B lk R i v g n g 4 s . 1922 J -J 101
92*4
92*8 J ’ty ’07
L a a e S h ore g o ld 3 4 s ___ 1997 J-D
91
9 2 4 M a r’ 07
R e g is te r e d ...................1997 J-D
93 Rale
93
94 4
D e b e n tu re g 4 s ............. 1928 M-S
9 0 7„ Saio
90 4
90 7f
25-year g 4 s .................. 1931 M-N
K a A A G R l s t g o c 5s. 1938 J -J 1 1 2 4
125 4 M a r ’06
M a h o n C’ l R R 1st 5 s . .1 9 3 4 J -J
107 4 N o v ’06
Pitts <fe L Krie 2d g 5 s .«1 9 2 8 A-O
139 J a n ’ 08
P itts M c K & Y 1st gu 6 s .1932 J -J 120 .
2d g u a r 6s ........................ 1934 J -J 1 1 8 4 .
M c K e e s & B V l s t g 6s 1918 J -J 110 .
104 D e o ’ 06
M ich C en t 1st co n so l 6 s .1909 M-S 103 .
118 4 J ’l y ’06
5 s ........................................ 1931 M-S 112 .
119 J ’ n e’06
R e g is te r e d ...................1931
97 “2 .
100*4 J an ’07
4 s ........................................ 1940 f t
1 0 6 4 N o v ’ OO
R e g is te r e d ...................1940 J -J
9 4 4 D e c ’ 06
J L & S 1st g 8 4 s ........... 1951 M S
92 4 M ay’ 07
90 4
l e t g 3 4 s ............................1952 M-N
B a t C & S tn r I s t g u g 3 s . l 9 8 9 J-D
N Y C h ic & St L 1st g 4s 1937 A O . . . . . . 100*4 1 0 0 4 J ’l y ’ 07
102 4 M ar’ 07
R e g is te r e d ...................... 1937 A -0 * ......... 101
W e s t S hore 1st 4s g u . . . 2361 J -J 1 0 1 4 ......... 1 0 1 4 1 0 1 4
R e g is te r e d ...................... 2361 J -J 1 0 0 4 1 0 1 4 1 0 1 4 1 0 1 4
N Y & G re e n w L a k e See E rie
N Y & H ar See N Y C & H ud
N Y L a ck <fe W See D L & W
N Y L E & VV See E r ie
N Y & L o n g B r See C en t o f N J
N e w Y o rk N e w H a v & H a r t—
124 F e b ’Ofc
H o u s a to m c R co n g 5 s ..1937 M-N
N H & D e rb y con c y 5S.1918 M-N
N Y & N o rth See N Y C & H
98
9 8 4 98 J ’l y ’07
N Y O & W r e f 1st g 4 s . . g 1992 M-S
95 4 ......... 1 0 1 4 J ’ u e ’Ot
R e g is $5,000 o n ly ......... o l9 9 2 M-S
N Y & P u t See N Y C & H
N Y & R B See L o n g Island
N Yr S & W See E rie
N Y T e x & M See So P a c Co
104 S e p ’ 06
N or & S outh 1st g 5 s ......... 1941 M-N
N o rf <fc W e s t gen g 6s ........1931 M-N 126 ......... 126 4 J ’ n e’ 07
129 J ’ n e’ 07
Im p r o v e m ’ t <fe e x t g 6s .. 1934 F-A
N e w R iv e r l s t g 6s ........1932 A -0 " " I ' m ” 1 2 7 4 O ct ’ 06
95 ......... 95
95 4
N & W R y 1st co n g 4 s . 1996 A -O
100 F e b ’06
R e g is te r e d ...................... 1996 A-O ......... 95
. . . . . . 8 7 4 88 J ’l y ’07
D iv ’ l 1st 1<fe gen g 4 s ..,1 9 4 4 J -J
86 Sale
85 4
86
P oca h C & C j o i n t 4 s . .l 9 4 1 J-D
109 4 F e b ’05
C C & T l s t g u g 5 s ......... 1922 J -J
92
95
92 J ’l y ’ 07
S cio V <fe N E 1st gu g 4s 1989 M-N
N orth Illin o is See Chi <fc N W
N orth O hio See L E rie & W
100*8
N o r P a c—P r io r lien g 4 s . .1997 Q J 1 0 0 4 Salo 100
100
98 ......... 100
R e g is t e r e d ...................... 1997 Q -J
70*4
'7 1 » k
70
71
G en eral lien gold 3 s ___ a2047 <j-F
70 M ay’ 07
R e g is t e r e d ...................a2047 y-.F .......... 70
St P a u l-D u l D iv g 4 s ___ 1996 J -D .......... 96*4 96*4 Jan ’07
D u l S h o rt L l s t g u 5 s . .1 9 1 6 M S
C B & Q c o ll tr 4s See G t N or
S t P & N P ge n g 6 s . ...1 9 2 3 F-A 1 1 8 4 1 2 3 4 122*4 J ’ n e ’ 07
132 J ’ly ’99
R e g is te r e d c e rtih o ’ s . . 1923
117 4 J ’l y ’ o ‘
107 4 .
St P aul & D u l 1st o s ___ 1931 u
1 0 6 4 May’ 07
2 (1 5 8 ................................. 1917 A-O 105 4 .
98 4 O ct ’ 06
1st c o n s o l g o ld 4 s ......... 1968 J-D
93 M ay’ Oli
80
W a sh C e n t 1st g 4 s ......... 1948 Q-M
113*8 M ay’ O^
N o r P a c T e r C o 1st g 6 s ..1 9 3 3 J -J 110 114
N o r R y O a i See So P a c
N o r W i8 See C St P Id & O
N o r <fc M o n t See N Y C en t
In d & W
See. C C C & St L
h io R i v R R See Balt & O
O re & Cai See So P a c Co
O re R R & N a v See U n P a c
O ro S h o rt L in e See U n P ao
O sw .ego & R o m e See N Y C
O C F & S t P See C & N W
a c C oast Co 1st g 5 s ___ 1946 J-D 102 4 .
103 J ’l y ’ 07
a c o f M is s o u ri See M o P a c
102*4 J ’l y ’ 07
Panam a 1st s fu n d g 4 4 s . . 1917 A-O 104 .
P enn K K 1st real e s t g 4 s . 1923 M-N 103 7g .
103 4 J ’l y ’07
C on sol g o ld 5 s ...................IV ‘
1 1 1 4 Sop ’ 04
C on sol gold 4 s ...................1918 M-N i b o " '
106 A u g ’ 03
94 Sale
94
914
C on vertible?^ 3 4 s ...........1912 M N
C o n v e r tib le g 3 4 s ........... 1915 J-D
904
90 7«
9 0 4 Sale
A lle g V a l gen g u g 4 s . ..1 9 4 2 M-S
99 J ’n e ’ 07
99 4 101
D R R R & B g e l s t g u 4 s g . ’ 36 F-A
95 4
P h U aB al * W 1st g 4 s .. 1943 M N
107 4 O ct ’ 06
Sod B a y <fc So 1st g 5 s ....1924 J -J
102 J a n ’03
Su n & L e w is 1st g 4 s . ..1 9 3 6 J -J
U N J B R & Can gen 4 s. 1944 j-M-S
1 1 0 4 Sep ’ 04
P en n Co— G u ar 1st g 4 4 s . 1921 J -J 1 0 3 4 Sale 1 0 3 4 104
R e g is te r e d ...................... 1921 J -J
1 0 3 4 J ’ly ’ 07
G a a r 3 4 s c o ll tru s t re g .1 9 3 7 M-S
9 0 4 J ’n e ’ 06
88 4 .
G u a r 3 4 s c o ll t r .s e r B ...1 9 4 1 F -A
82**.
81 M ay’ 07
T r Co c e r t il’ s g u g 3 4 8 .1 9 1 6 M-N
94 .
94 J ’l y ’ 07
89 O ct ’ 06
G u 3 4 s t r c t f i j O ...............1942 J -D
824 .
G a 3 4 s tr c t f s D ...............1944 J -D
90 4 M ar’ 06
824 .
G u ar 15-25 y .a r g 4 s . ...1 9 3 1 A O
97
97 4 J a i l ’ 07
Cl & M ar 1st g u g 4 4 s . .19 3 5 M-N
110 J a n ’ 05
Cl & P gen g u g 4 4 s s e r A . ’42 J - J 1 0 4 7g .
1 0 8 4 A u g ’ Oc
S e rie s B ............................1942 A-O 105 7aSeries 0 3 4 s ...................1948 M-N
9 8 4 D e c ’ 05
Series D 3 4 s .................. 1950 F -A
96 J a n ’04

Low
974

M ig \
974

i '1 0 4 i V i

1 1 0 4 114

95
95

9(.* h
92 4
9'1*4
89 -a

96
94
99 4
93 4

1 0 0 4 100*4
924

944

100 4
1024
1004
1004

l o 3 “a
1024
105
1034

95

1014

126
129
93 4

130
129
99**
964
914
99 4

9941024
98 102
69
744
70
71
95*4 96*4
120

122*4

117 4 117 4
106 410 8*4
113^113*,

O

F

1024109
102*4 103
10i
103V
9 0 S 100 4
S 8 4 95
99
99

103 4 107
101 105*4
83
934
974

974

B O N IX i— C o n tin u e d o n N e x t I’ atre

F-A
90 J ’l y ’0*7
8 5 4 90
1004
F-A
87
87 A p r ’ 07
87
M-N
107 4 O ct ’ 04
A -0
102*8 A p r ’ OO
J-J
95 A p r ’ 02
F-A
67*4 Salt
574
63 >4 223 56 4 7 6 4
F-A
1074s D e c ’ 04
J-D
107 M ay’ 97
J - J ......... 106
1 0 5 4 D e o ’ 06
J -J
105 O ct ’ 00
J -J
78 F e b ’ O
78
784
J -J
89 j 2 8 3
89
91*4 88
95
A O 102 ......... 1100
J ’ n e ‘07[___ 1 0 0 1 0 6 4
J -J ■ 1 0 3 4 ......... 106 J ’ ne 07 . . . . 1 0 1 4 1 0 6 4
J-D .....................102
D e c ’ 03 j___
100
F-A
97 ......... 100 F e b ’0 7 1,... |K>|
MS
93 Sale i 93
93 | 1 90
98
J -J
9 3 4 Fel>*<>71___ 9 3 4 0.1'i

T e l e g r a p h a n d T e le p h o n e
A m T e le p <fe T e l c o ll t r 4s 1929
Com m C able Co 1st g 4 s . .2397
M et T & T 1st s f g o s ........1918
M ic h . S tate T elep . 1st 5 s . 1924
X V & N J T e l g o a g 5 s .. 1920
W est U nion co l tr c u r o s . 1938
F d an*l real e s t g 4 4 s . . . 1950
M u t U 11 T e l s fund 6 s . ..191 1
X o r t liw T el gu f 4 4 s g . . 1934
.H u n iilu c ttir h ig A" I n d u s tr ia l

7 8 4 j ’l y ’ 07
96 4 J 'n e ’ 06
104 F e b ’07
101*4 97 F e b ’ 07
.........
1 0 5 4 J ’l y ’ 03
97
98
100 J ’ n e’ 07
89
91 *4
94
104 A p r ’ 07
..........
103 J ’i y ’ 04

A m Cot Oil e x t 4 4 s ........... 1915
A m H i d e * L 1st s t g 6 s . .1 9 1 9
A m er I c e S eeur deb g Os.. 19-6
A m S p irits M fg 1st g d s . .l U l u
Am Th read 1st col tr 4 s . .. 1919
A m T o b a c c o 40-yr g 6s . . . . 1944
4s. ........... .............................. 1951

8-1*4
S9
___
10 2 *4
e 0 7s
1 0 3 ',
63 4

rf
00

C oal and Iron
C o l F & 1 C o g e n s f g 5 s ..1 9 4 3
C o n v e r tib le d eb g 5 s . ...1 9 1 1
O01 b uel Co g e n g o ld 6 s .1919
G r Hiv C oalifc C I s t g 6 s l 9 1 9
C le a n Bit Coal 1 s t s f 4 s . . . 194 0
C o l J ndu 1 s t * c o ll 6s g u .,1 9 3 4 ,
C o n t.u ’ ta lC l s t s f g u 5 s g . l 9 5 2
JOII * Cleat C & 1 1st g 58.1926
K a n & H c & C 1 s t s f g 5 s . 1951
P le a s Val Coal 1 s t g s £53 .1 9 2 8
S u n d a y C r ^ e s C o g 5 s ___ 1944
l 'e o i i Coal gen 5 s ...............1951
Tenn D i V l s t g 6s ........a l9 1 7
B irn i D iv 1st co n s o l 6 s .. 1917
Cali C M Co 1st gu g 6s. 1922
D e Bar C ifc I Co g u g 6 s .1910
V ftl roil Coal <feCol st g 6s. 1949
V ic t o r F cl l s t s f 6 s ......... 19.')3

269

New York Bond Record^-Continued—Page 3

3 1907.1]

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

ss
90
■SI
Sal.88
Suit*
Xaic

87*.,
S7*4
S9 4 J ’l y ’ o',
7:1
|
’9
1.02 4
102*4
88 4 J ’ n e’ o7
103 4
104
68
714

'104
98
3

1

90
104
98

99 4 103
91 100*4
101 104

85
93
86
914
,89
79
98 103 4
88 4 93
23 101
110*4
43 68
794
1
ft

270

New York Bond Record— Concluded— Page 4

BONDS
N . Y . STOC K E X C H A N G E
W e e k E n d in g A u g u st 2

W eek's
R an ge or
L a st Sale

P r ic e
F r id a y
A vgu st 3

P e n n C o—(C o n tin u e d )
E r ie & P itts g u g 3*28 B .1 9 4 0 J -J
S eries C ............................1940 J -J
G r R<fc I e x 1st gu g 4 % s l9 4 1 J -J
P it t s F t W & C 1st 7 s . . .1912 J -J
2d 7 s ...................................1912 J -J
3d 7 s ............................... A1912 A -0
P itts Y& A sli 1st con 08.1927 \1-N
P C C & S t L g u 4% s A . . . 1940 A-O
S e r ie s B g u a r .................1942 A -0
S eries C g u a r .................1942 M-N
S eries D 4s g u a r ........... 1945 M-N
S eries E 3 >2 g u a r g ___ 1949 F-A
S eries F 4s g u a r ......... 1953 J -D
C S t L <fc P 1st con g 5 s .1932 A-O
P en sa cola <fc A t l See L & is7ash
P e o <fc E a st See C C C & S t L
Peo
P e k Un 1st g 6s___ 1921
2u g old 4 Has...................... W 921
P e r e M a r q — Cliifc W M 5s 1921 J - D
JTlint <fc P M g 6 s ............... 1920 A-O
1st co n so l g o ld 5 s ..........1939 M-N
P t H u r o n D iv 1st g 5 s .1939 A -0
S a g T u s & H l s t g u g 48.1931 F-A
P lu l B <fc W See P e n n R R
P liila & R e a d in g con s 7 s . 1911 J-D
P itts C m & SD L S ee P e n :. Co
P it t s C leve <fc T o l See B <fc O
P itts Ft W <fc Cli See P e n n Co
P u t s M c K e e s & Y See N Y Cen
P itts Sli <fc L E 1st g 6 a ...1 9 4 0 A-O
1 st co n s o l g old 5 s ............. 1943 J -J
P itts <fcW est See B & O
T » e ad in g Co g e n g 4 s ........1997 J -J
X V R eg is te re d ...................... 1997 J-J
J e r s e y C en t coll g 4 s . . . l 9 ,’ l A 0
R en s sela er & Sar See D & H
R icli <fc B a n See S outli R y
R ic li &■ M e e k See Sou th ern
B io G r W e s t See D en & R io G i
fto c li & P it t s See B R <fe P
R om e W a t <fc O g See N Y Ceni
R u tla n d See 2s Y C en t
a g T u s & H See P e r e M arq
t J o & Q r Isl 1st g 4 s . . .1947
S t L & C airo See M ob <fc OliK)
S t L <fc Ir o n M o u n t See M P
S t L K C & N See W abash
8 t L M B r See T R R A o l St L
S t L o u is & S an F r a n cis c o —
G en era l gold 6 s .................1931 J -J
G en era l g o ld 5 s .................1931 J -J
S t L ifc S F R R con s g 4 s . . ’ 96 J -J
[
S ou tliw D iv 1st g 5 s . .1947 A-O
!
R e fu n d in g g 4 s .............1951 J -J
o-year gold n otes 4 *2.-190,■ J-D
S tL M < fc So E a s tg u 4 * 2 g l9 0 9 J-D
K C F t S <& M c o n g 6 s ..1 9 2 b M-N
K C F t S & M R y r e l g 4s 1936 A O
K C & M R & B l s t g u 5 s . 192U A-O
O z’ rk & Ch. C 1 st g u 5s g.1 9 1 3 A-O
8 t L ou is S o See I llin o is C en t
B t l i S W 1st g 4 s bd ctfa .1 9 8 9 M-N
2d g 4 s in c bond ct£s...j< 1989 J -J
C on sol gold 4 s...................1932 J-D
G ra y ’ s P t T e r l s t g u g 5s 1947 J -D
S t P a u l <fc D u l See N o r P a cific
S t P a u l M & M an 2d O s...1909 A-O
1st c o n so l g old 6 s............. 1933 J -J
R e g is te r e d ...................... 1933 J -J
R e d u ced to g old 4 % a ..l9 3 :: J -J
B e g is t e r e a ..................1933 J -J
D akota e x t gold 6 s..........1 91o M-N
M on t e x t 1st g o ld 4 s ___ 1937 J-D
R e g is te r e d ...................... 1937 J-D
E M in n 1st d iv 1st g 5 s .. 190b A -0
N o r D iv 1st gold 4 s ___ 194b A -0
M in n U nion 1st g 6s___ 1922 J -J
M on t C 1st g u g 6 s ..........1937 J -J
R e g is te r e d ...................... 1937 J -J
1st gu ar g old 5 s ........... 1937
W ill & S F 1st gold 5 s ..1 9 3 b
S t P it e N o r P a c see N or Pac
8tP<fc S’ x C it y .S 'e e C S tP M & u
S A & A P a ss l s t g u g 4 s . . .1 9 4 3
8 F e P res <fc P h 1st g 6 s . ..1 9 4 2
8 F & N P 1st sin k t g 5 s . 1919
S a v F cfc W e s t See A t l C oast L
S cio to V a i & N E See N o r <fe W
S eaboard A ir L in e g 4s ...1 9 5 0 A O
C oll tr re fu n d g 5 s ......... 1911
A tl-B irm 3 0 -y r ls t g 4 s .e l9 3 3 M-S
C ar C en t 1st con g 4 s . . .1 9 4 !' J-J
F la C en <fc P en 1st g 5 s . 191b J -J
1st land g r e x t g 5a ...1 9 3 0 J-J
C on sol g o ld 5 s ...............1943 J-J
G a <& A la R y 1st co n 5 s o l9 4 5 J -J
G a Car & N o 1st gu g 5s 1929 J -J
Seab <fc R oa 1st 5 s ............1926 J -J
S her Slir & S o See M K & X
S il Sp O ca <fc G See A t l Coast L
8 o Car & G a See Sou th ern
S ou th ern P a cific C o G old 4s (C en t P a c co ll). £1949 J -D
R e g is t e r e d ...................fcl 949 J -D
C en t P a c 1st r e f g u g 4s 1949 F-A
R e g is t e r e d ...................... 1949 F -A
M o r t g u a r g o ld 3 % s ../c l9 2 9 ; J -D
T h ro u g h S t L 1st g u 4s ’ 54 A -0
GaJ. H a r <fc S A 1st g 6 s .. 1910 F-A
M e x & P a c 1 st g 5 s ___ 1931 M -N
G ila V G & N l s t g u g 5 s . 1924 M -N
H o u s E & W T 1st g o s .1 9 3 3 M -N
1 st g u a r 5s r e d ........... 1933 M -N
H <fc T C l s t g 5 s i n t g u . . l 9 3 7 J -J
C on sol g 6s in t g u a r ...1 9 1 2 A-O
G e n g old 4s in t g u a r .. 1921 A -0
W a c o <fc N W d iv 1st g 6s ’30 M -N
A. & N W 1st g u g o s ___ 1941 J -J

u

6

107 % 109

IOC's....

10034

8o % .
■113 V) .

BONDS

R an ge
S ince
J a n u a ry 1

Low
Mio/i
92 A p r ’ O
9S 34 A y r ’ 04
108 Sep ’ 06
127% O ct ’ 02
119 J ’n e ’ 06
119 A p r ’ 04
116 M ay’ 05
1071, J ’ly *0
1 0 7 14 J ’l y ’ 07
112 .) ’ ne’ 05
100% M a r’ 07
91 F e b ’ 07

Low
92

H igh
92

107 *8109*1,
106% 109*4
98
91

115 4i J ’n e’ 07

115

'1 0 4 % _____ 1 2 3 's Jan ’05
100% D e c ’O.i
109 A p r ’ 02
1 1 2 %.
110% M av’ 07'
10034 A p r ’ 07
100 *a Sep ’06

ICO*,
91
116*2

110% 115
10 J% 100-*4

115% M a i’ 06

[V o l .

P r ic e
t'r id a v

N. Y. STOCK E X C H A N G E
W e e s E ndin g A u g u st 2

lxxxt.

W eek’ s
R an ge or
Last Sale

August 2

R ange
S ince
J a n u a r y 1,

Hid
L ow
H ig h A o
Sou th ern P a c Co—( C on tin u ed )
127 S e p ’ 06
M o rg a n ’ s La & T 1st 7 s . 1918 A-O 119
112
116 N o v ’ OO
1st gold 6 s...................... 1920 J -J
112 F e b ’ 07
N o ot Cal g u a r g 5 s ......... 1938 A -O
100% J ’l y ’ 07
Ore & Cal 1st gu ar g 5s. 1927 J -J 100
104 A p r ’ 07
So P o f A r g u l s t g 6 s ...c l9 0 9 J -J
104% F e b ’07
1st guar g 68............... cl9 1 0 J - J
£0 P a cific o f C al—
107 A p r ’07
l8 t g 6 s s e r ie s E & F ...1 9 1 2 A -0
114% D e c ’ 04
1st gold 6 s ...................... 1912 A -0
116 M ay’ 07
1st co n gu ar g 5 s ......... 1937 M-N
104 M a r’ O”
S P a c o f N M e x l s t g 6 s . . l 9 1 1 J -J
So P a c Coast 1st gu 4s g.1 9 3 7 J - J
107 % F e b ’0
T e x & N O S a b D iv ls t g 6 s .l9 1 2 M-S
104 Sep ’ 00
C on g old 5 s .....................1943 J -J
9U ,
o P a c R R 1st r e f 4 s ......... 1955 J -J
90% 91*4 91%
107 \
S o u th e rn —1st con g 5 s ___ 1994 J - J 107 Sale 107
114 N o v ’ OO
R e g is te re d ...................... 1994 J -J
82 Sale
82
82
M o b & O hio c o ll tr g 4 s . . 1938 M-S
11H*2 M ay’07
M em D iv 1st g 4*2-58...199 6 J-J
87
87
S t L o u is d iv 1st g -is___ 1951 J -J
113 Jan’ 06
A la Cen R 1st g 6 s ..........1918 J -J
"9 0
96 J ’ ue’ OO
A t l & D an v 1st g 4 s ........1948 J -J
92 J ’ n e’ Ot
2d 4 s ................................. 1948 J -J
A t l <fc Yad 1st g gu a r 4 s . 1949 A -0
111 F e b ’ 07
Col & G re e n v 1 st 6 s ........1916 J-J
110 % J ’l y ’ 07
E T V a & G a D iv g 5s. .1 9 3 0 J -J '1 10% . . .
Con 1st gold 5 s ............. 1956 M-N 113% 116% 113 J ’l y ’07
J ’n e’ 07
E T e n re o r lien g 5 s ........1938 M-S ’ .............. 110 %
07 *2 J ’l y ’ o7
G a M id lan d 1st 3s........... 1946 A O
113 *4 J ’l y ’ 07
113 *4
<ja P a c R y 1st g 6 s ......... 1922 J-J
i i f i ” 117% M ay’ 07
K n o x cfc O hio 1st g 6 s ...1 9 2 5 J -J
115% A p r ’06
M .ob& B ir p rio r lien g 5s 1945 J -J
90 O ct ’06
M o rtg a g e g o ld 4 s .........1945 J -J
95
ib'9%
109*4 J ’l y ’ 07
R ich <& D an c o n g 6s ___ 1915 J-J
103 M ay’07
D e b 5s stam p ed............. 1927 A -0 10 2 %
98 F e b ’ 05
R ic h & M e e k 1st g 4 s . ..1 9 4 8 M-N
104*2 J ’i y ’ o7
So Car <fc G a 1st g o f ___ 1919 M -N ..........100
112 O ct ’06
V irg in ia M id ser C 6 s ...1 9 1 6 M -S
S eries D 4 -5 s ................. 1921 M-S
108*2 D e c ’ Ob
113 D e c ’O;
S eries E 5 s ...................... 1926 M -S
107% M ay’ 07
G en eral 5 s ...................... 1936 M -N
107
G u ar stam p ed ........... 1 9 3 6 1M -N
96% Jan ’ 0
86
W O & W 1st c y g u 4 s ..1924 F-A
105%
108 *2 M ay’ O'
W e s t N C 1st c o n g 6 s ..1914 J -J
S & N A la See L & N
117 J ’l y ’ 00
S p ok F a lls in N o r 1st g 63.1939 J -J
111 J ’ ly ’ 0 ,
' I 'e r A o f S t L 1st g 4 % s ..l9 3 9 A-O
111% J ’ n e’ 07
1- 1st c o n gold 5 s ___ 1894-1944 F-A lo 7 %
G en refu n d s t g 4 8 ......... 1953 J -J
9 1 % 93 *2 J a n ’ 07
111 D e o ’06
S t L M B g e T e r g u g 5 s . 1930 A-O
T e x & N O See So P a c Co
1J3
113
T e x & P ac 1st gold 5 s ........2000 J-D 112*2
92 N o v ’ OO
2d g old in c 5 s ...................g’2 000 Mar
90
110 M ar’ 06
i ‘0 2%
L a D iv B L 1st g 5 s ........1931 J J
106 *2 N o v ’04
W M in W ifc N W 1st g u 5s ’ 30 F -A
108 J ’l y ’ 07
T o l & O C 1st g 5 s ...............1935 J -J 108
111 M ay’O4
W e s te rn D iv 1st g 5 s ...1 9 3 5 A-O
102 M ay’07
G e n e ra l g old 5 s .................1935 J-D
90
91
Kan cfc M 1st g u g 4 s ___ 1990 A -0
91% M ay’ 07 . . .
82
84
83 ........
6
T o l P & W 1st g old 4 s . ...1 9 1 7 J -J
86% M ay’07
81 ........
TolStL < fe W p r lie n g 3 % s ,1 9 2 5 J -J
50-year g o ld 4 s ............. ..1 9 5 0 A-O
75*2
75% "1 6
76
78
T o r H am & B u ll 1st g 4s.Zi.1940 J -D
9 5 a 95 D e c ’Oo
ls t e r < fc D e ll8 t c o n g 5 s 1928 J-D 101 ....... 110 M a r’07 . . . .
93 Sep ’ 06
1st re fu n d g 4 s ........... 1952 A -O
99%
100
73
99% Sale
Un P a c R R & 1 g r g 4s ...1 9 4 7 J -J
1
97
97
R e g is t e r e d ......................1947 J -J
92%
9 2 3i 217
9 - % Sale
2 0-yr c o n r 4s (s u b s c r ip )..’ 27 J -J
96 ........
96
96*2 20
o r e R y & .Nav c o n g 4 s . 1946 J-D
6
O re S h ort L in e I s t g 6 s . . l 9 2 2 F-A 1 1 6 % ____ 116*2 116*1
1st c o n s o l g 5 s ...............1946 J -J 1 0 8 * 4 ........ 112 J ’n e ’ 07
8 8 % Sal6
G uar r e fu n d 4 s ............. 1929 J D
"73
87% M a i’ o7
R e g is t e r e d .................. 1929 J -D
103 *a F e b ’07
U tah <fc N o r 1st 7a..........1908 J -J
105*2 J ’l y ’ 07 ------G o ld 5 s ..............................1926 J -J *104*s ,
U ni N J R R & C C o See P a R R
Utah C en tral See R io G r W es
Utah<fc N o rth See U n P a cific
U tica & B la ck R See N Y C em
102% F e b ’ 06
andalia c o n s o l g 4 a ___ 1955 F-A
98 Sep ’ 00
era C r u z & P l s t g u 4*281934 J - J
V e r Vai In d & W See M o P
V ir g in ia M ill See Sou th R y
V a & S o u th w ’ t 1st g u 5 8 .2 0 0 3 J-J
107% . . .
110
M ay’ 07
aba sh 1st g o ld 5 s ........1939 M-N 108 108 *2 107*2 108*4
98
100%
2d g o ld 5a...................1939 F-A ......... 100*2
D e b e n tu re series A ........1939 J -J
90
J ’ n e’ 07
S e rie s B ............................1939 J -J
61 J ’ l y ’ 07
C ertificates o f dexjosit___
62 j ’n e ’O
.02
M a i’07
1 st lie n eq u ip a f d g 5 s . .1921 M -’ b
102
93
M a i’ Ob
l a t lien 50 y r g te r m 4 s . 1954 J -J
1 s t r e f and e x t g 4s ___ 1950 J - J
61'
D et <te Oh E x t 1st g 5 s ..1941 J -J
103 108*8 J ’l y ’07
97 N o v ’ 04
D es M o in D iv 1st g 4 s .. 1939 J-J
80
h e b ’ 07
Om D iv 1st g 3 % s ............1941 A -O
90% J ’ n e ’ O.
T o l & Ch D iv 1st g 4 s . . . 1941 M-S
00 M ay’07
S t Chas B r id g e 1st g Os. 1908 A-O
6 9%
70
W a b P itts T e r m 1st g 4 s . 1954 J-D
70 Sale
22*2 Sale
22 *2
23
2d g o ld 4 s .........................1 9 5 4 J -D
W a rre n See D el L a c & W e s t
W ash C en t See N o r P a c
W ash O & W See Sou th ern
W a sh T e r m l 1st g u 3 *28. . 1945 F-A
8 5 % ......... 87% J ’l y ’ 07
74
75
W est M ary lan d 1 st g 4 s . . . 1952 A-O
74 Sale
G en & c o n y g 4 s ............. 1952 A-O
50
55
55 J ’l y ’07
106*2 A u g ’O
W V a C en t & P 1st g Os 1911 J -J ..........106
112% 113*4 112*8 J ’l y ’ 0 .
W e a t N Y & P a 1st g 5 a ..1937 J-J
8 9 % ......... 89% J ’ n e’ 07
G en g o ld 3-4s.....................1943 A -0
34 F e b ’07
I n c o m e 5a........................ <<1943 N o v
W est N o Car See S outh R y
W h e e l’ g & L E l a t g Sis...1 9 2 6 A -O 103 1 0 6 34 105% J ’l y ’ 07
W h e e l D iv 1st g o ld 5 s ..1 9 2 8 J -J
110 D e c ’ 06
E x t e n & Im p g o ld 5 a ...1 9 3 0 F-A
111 *2 A u g ’05
80 .
K B 1st c o n s o l 4 s .............. 1949 M-S
83 M ay’ 07
20-year eq u ip s f 5s ...1 9 2 2 J-J
102% D e c ’ 05
W ilk e s & E a st See E rie
W il & S io u x F See S t P M & M
W is C en t 50-yr 1st g en 4s 19 4 0
84*4 11
S41 84

"bd" ” 1”

110U

120

M a r’06
J ’ly ’ 97

98
95

Sale

"0 0 % '*92'

93^

951,

93^
98\
9
63* 9
53-

64

95% M ay’ u7
91 J ’l y ’07

90

96*2

May’O

83

88

118*8.
106 ■a.
77%

79%

82

J ’ ne'97

123 Mi A p r ’ 07
105 >2 j ’ly ’ 07
91 F e b ’ 07
102% A u g ’ 05
7 7 h 7 7 14
77%
98 N o v ’OU
80
99

89
*77%
72

1 1 6 ^ M ay’07
79i*
79 hi
97

90

92%

123*2 123 Si

105Hj110*v
91

93

7 7 ” '8 2 %
117*2119
77
8 2 34

M aj ’ 07

97

97 hi

89 5g
90
78
7 9 7f
75 J ’l y ’ 07
101 !8 A p r ’ 07

8^
77
72

95
83
79

1 0 3 % ........
126 *2 128

103
130

105*4

i.05"*aib«

103% J ’n e ’ 07
130 J ’ n e ’ o7
134 D e c ’ 06
L05Vj 105*1!
1 1 6 1®A p r ’ 01
1 0 4 18 « . . . . 104% J ’l y ’ 07
9b % ......... 98 \ J ’l y ’ 07
*98
1 0 0 14 O ct ’ 06
101 itjfo . 100 Sj J ’n e ’07
124 M av’07
125
125
13614 M ay’06
115 >a M ay’ 07
1 1 5 \ D e c ’uO
. 84

102

Vl-N
89% .

70
97
85

. 108

105=8
131

104% 107*;
97% 100*2

100%100*-^
130

131 *2

iia” 11*5%

82\,
821*
106*2 F e b ’07
110 O ct ’05

81
87
106 *2 1 0 8 34

70
70
90 *2 J ’ n e ’ 07
88 J a n ’ 07
y6*n M a r’06
1 0 7 14 A u g ’ vJO

70
82»,
96*2 100*2
8y
89

109 *a M ar’ 06
106 M ar’ 07
J an ’ 05
106 M a r’07

110

87
8 7 34
84 J’ n e ’07
96*a
96^
93% J ’n e ’ 07
9 4 '•j .
84
84 J ’l y ’ 07
92
90% J’n e ’ 07
103 *2 A p r ’ o7
. 1041.. 105 J ’n e ’ 07
108
106*4 J ’l y ’ 06
102
1 0 7 14 F e b ’ 05
100%
104 A u g ’ OO
110 J ’ l y ’ 07
109%
109 >4
111% J a n ’ 07
93
94*2 93% J ’ly ’ 07
116 D e e ’ 06
109*11 F e b ’06
87H .

’9534 ’ 96 *2

.....

101^ 101% U

106

1 0 7 3,

i'oo" ib'si"
85
90%
84
88
93 100%
93% 99
82% 86
90% 98%
103 105*2
105 1 0 6 h4

109*4 111*2
111 112
91*2 94%

8814 8834_

Low H igh,
112
98
lo ; %
ICl-.j

112 J
101 *
104 1
104%

107

l '7 * i

ii 6" iia'*i

103% i 0 4

S7% 95 1
105 113%
82
94
113*a 116
85% 94%

111
111
110% 113%
113
110%
67%
113*4
116

117%
11 4
69*4
U 9%
118%

109*4 113
103 103
104

106 %

1 0 6 % 111
107 110
94% 9 6 %
108*2 109%
108 111
111% 117
93*2 94
111 *2118%

108

111

100 %
90%
80
85
73

102%
97
89
87%
82

110

110

99
97
90%
95%
116*2
111
87%
87%
103
105%

1 0 2 %,
101%
93
99%
126
114
94%
o7%
103*2
105%

V

W

01

01‘4

102*2 .

111%
114
105.%
90
76%
57*2 75
101 102

106
107
98
90
57

54

i.7

107

10‘J

80
9u%
100
68%
20

96%
102
80
32%

fO * »

87
87%
73*a 82 *»
54
68
t l l *2 1 1 5 'a
89% y s %
34
34
05*2 108
83"

87%

84

89

12; 05

103

.U lisC E L .I.A N E O U sj B O N D S —C o n c lu d e d .
ftla iiu ta ctiiriiiK ifc In d u s tr ia l
B e th Steel 1st e x t s f 5 s .. 1926
C en t L ea th er 20-year g 58.1925
C on sol T o b a c co 50-yr g 4S.1S51
D istil S ec Cor co n v 1st g o s . ’ 27
I n t P a per Co 1st con g 6 s .1918
C on sol c o n v 8 f g 5a........1935
Int S t P u m p 10-yr c o n v . 6 s ’ 13
K n ic k e r I c e (C h ic ) 1st g 5 s .’ 28
L a ck a w S teel 1st g 5 s ___ 1923
N a t S tarch M fg C o 1st g Os 1920
N a t S tarch C o a f d eb 5 s . . 1925
■ R e p u b l& S ls t i f c c o l t r 5 s . 1934
U » L ea th C o 8 I d e b g 0 s . .l 9 1 3
U S R e a lty & I co n v deb g 5s ’ 24
TJ S .Steel Corp— ( cou p ,d l9 6 3
S f 10-6!) y r o s . ( r e g ..«U 9 0 S
V a -C a r C hem co l tr 5s g .,1 9 1 2
W e '-tin v h o n s e E & M s r 5a ’ 31

M is c e l la n e o u s
J-J
A-O
F -A
A -0
F-A
J-J
J-J
A-O
A-O
M-N
.J-J
A -O
M-N
J -J
M-N
M-N
A-O
J -J

92
80
102 %
86
98
......

96%
80
104
76
97%
97%
97*2
92

96 A u g ’ OG
92*4
93
......
72% J ’l y ’07
8 1 % J ’l y ’ 07
106
105 J ’ n e ’07
88
88 J ’ly ’07
99*4 99%
9 9 34
......
97*s O c t ’ 05
98
97%
98
83%
83%
70 A p r ’ 07
96% J 'n e ’07
95
104,
105
77*2
77*-.
Sale
97
97%
97%
973,
Sale
99
97 J ’l y ’ 07
Salt
92
92
93

r N o price Friday; la test bid and asked Uiis w eek,




Adams E x col tr g4a........ 1948 M-S
91
71%
80
103*2
87*2
97 %

9t>
79
90
1081-2
92
100

94% 102
83
84
70
70
V5
97
102% 106*4
77
95
93% 99 34
94*2 99*2
97
09
91% 9 7*2

a Due J an

A m SS Co o f W V a g 5 s ___ 1920
B ’k l’ n F e rry C o 1 st c o n s g 5s ’ 48
C h ic Jc<fe S t Y a rd c o l g 5s . 1915
O e t M & M l d g r in c o m e s .. 1911
I n t M erca n M a rin e 4 % s ..l9 2 2
In t N a v ig a tio n 1st s f 5 s . 1922
M an B ch H & L g e n g 4 s .. 1940
N e v p N e S h ip tfc D D 5s <21990
X Y D o ck 50-yr 1st g 4 s .. 1951
P r o v id e n c e S t c d eb 4 s ___ 1957
P ro v id e n t L oa n S o c 4*28.1921
St J o s e p h S tk Y d s 1st 4 *28.1930
St L T e r C u p p le s S ta t’ nd>- Prop.
Co l s t g 4% s 5-20 y e a r .. 1917
S Y u b a W a t Co c o n g 6 s ..1923
•Sp V a i W a t W o rk s 1st 0 s .l9 0 i
U S Red<fc R e f 1st s f g 6s. 1931

i> D ueF eb

d Due A p r

-M-N
K-A
J -J
A-O
A-O
F-A
M-N
J -J
K-A

9G
95
100% J ’ n e ’02
41 O ct ’o o
101 M ay’ Oi
70 Sep ’ 06
65
6 9*2
69*2
85*2 85% J ’ l y ’07
50 F e b ’ 0 :

95% Sale

88

VI-N
M -S
J-J
J-D
J -J
M-E

t Due .May ^ D u e J 'n e

.....
89

Sain
85

.....

91

A. Due J ly

88
87*2
b 4 *2
85
99 M ay’ 06
100*2 Sep ’Oi

101 101
67 *4 7 0 %
85
85%
87 *2
84%

112 J ’ly ’ 04
113% -P l y ’ 00
89 J ’l y ’ 07 . ..■ii 89

p Due Nov

1

107% 107%-

93_

s O ntiou Sal#

OEICAGrO STOCK EXCHANGE— Stock Record— Daily, W eekly and Y early
S T O C K S — H IG H E S T A N D L O W E S T S A L E P R I C E S
S a tu rd a y
J u ly 27
•165 165
*3Ha
4
*13*a 15
26*4 2<j34
*3
4
18
*16
*53
54
*82
8 2 7fc
24
*23
*63
64
*45
46 H
*21 ha 2 2 Hi
*62
65
*8 «
82H
2 8 78
29
•96
96*<
*30
32

M on d an
J u ly 29

T u esd a u
J u ly 3 0

W ed n esd ay
J u ly 31

16 0

ieo

160
4
15
27
3 *3
18
55
83
24
•63
64
415
21>a 22 Hi
*62
65
*80
82 >3
29*,
29
*95
96 Hi
*30
32

*3*3
4
*13*3
15
2J*a
27
3
4
*15 H* 17Hj
* 54
55
*81
823.
24
•63
•43
*21H» 22 H,
•62
65
80
80
29*4 29*4
*95
96H,
•30
33

6\
53^
53s
5H,
533,, 6 3 «s
6 3 *4 5 3 *4
*135 ......... 135 _____
123 “a 123*-» 123*3 125
*71
72
7^
72
fl 03 >3 104
103 Hi 104
*35
*35 .........
*35
373. *35
37*4
■107 109
107 109
*48
50
*49
50

53** 63*4
■135 .........
'123*3 125
72
72
’ 103 Hi 105
"35
*35
3 7 34
■107 109
•48
60

1*8 ' ..........
IH j
i>s ' ..........
*5 *3 6
*6 Hj
6
*5 4!
6
141 144
143 *3 143 4 140 143H2
*39*3 40
* 3 9 *2 40
>39*3 4 )
115 116
117 117
112 115
*106 107
107 107
•106 107
129 129
129 129
1 2S 7s 129 *t
*60
52
*50
61
' ......... 60

*1
1*8
*5*3
143*3 143H:
*39 Hj 40
112 117
107 108
128*3 12834
*48
60

Ha 53„
53 Ha 53 Ha
♦135
•122 i ;2 5 "
72
72
•103 Hi 104
*3;->
‘ 37 ■'374.
*10«
10i#
50
*48

155 165
<*3Ha 4
*33*2 15*2
26Ha 2 6 7(,
*3
4
* 16 *2 18
......... ..64
81
83
......... ..24
......... ..64
•43
46
*2 1 ><i 2 2 >2
*63
65
•80
82 *2
*28*4 29
*95 4a 96Hi
*30
32

’ 155
*313
*13*2
2 6 a4
*3
*16
*54
*81

T h u r sd a y
A u gu st 1

5*3

* ..............

*73 Ha 74 S *73*3
•......... 115
■114
* 7 2 Ha 73
*72*3
•112 120
115
*41 Ha 42ia
*91*3 92
•105a4 10d
•150^155
99
99
* 1 34

l 7t

11

11

*24ia

i’ 5

75
74 Hi *74
115
114 115
•72*3 73
73
11 i 3 115
115

5*3

*74
75
114*3111*3
7 z *3 72*3
T 1 2 4 i 115

*4134 42*2
42 *3 42 H, *42*s 42 H.
92
92
*91*3 92
92*s 92*8
1 0 5 34 106
1 057s 105 7t I 0534 106
150 Hi 156
‘ 150 Hi 155
'150*2 155
99
99
99
99
98 7s 99
1»4
1 34
*134
1 7s
*1*4
I 7*
1 o 34 jo * ,
1034 10\
10*3 1034
*24 \ 25
* 2 i \ 25
* 2 4 34 25

F r id a y
A u g u s ts

P r ic e
F r id a y
A u gu st 2
B id

A m e r B is c u it 6s ................. 1910
A m e r S traw board I s t 6 s . . l 9 l l
Cass A v e & F G (S t iO —
6 s ...........................................1912
C h ic B oa rd ot T ra d e 4 m ...1 9 2 7
C lu e C on sol B r
M lt 6 s ...........
CliiQ C on sol T r a c 4 *33........1939
C h ic E d is o n —
D e b e n t 6 s .......................... 1913
1st g o ld 6 s ...................... /tl9 2 6
C h ic A u d ito r iu m 1st 6 s . ..1 9 2 9
C h ic D o ck Co 1st 4 s ........... 1929
O hio N o Shore E le c 6 s ___ 1912
C h ic & MU E le c B y 6s . .. .1 9 1 9
C h ic P n eu m T o o l—
1st 6 s ................................. a l9 2 1
C h ic R o c k I & P a c B K 4 8.2002
C ollat T r o s t g 5 s . ........1913
C om m on w ea lth E le c t —
5 s ........................................ 61943
Illin o is T u n n e l 6 s ............. 1928
K a n s C ity R y & L t C o 6 s . 1913
K n ick e rb o ck e r I c e 1st 5 s . 1928
L a k e S treet E l—
1st 5 s ................................... 1928
In c o m e 5 s .......................... 1925
i l e t r W S id e E l—
1st 4 s ................................... 1938
E x te n s io n g 4 s .................1938
N o rth C lue St 1 st 5 s ..........1909
1st 5 s ................................... 1916
R e fu n d in g g 4*38............1931
N o C liic C ity R y 4 Has ...1 9 2 7
N o rth W e s t ’ n E l—
1st 4 s ...................................1911
O g d en G as 5 s ...................... 1945
P e a rs o n s-T a ft 5 s .................1916
4 -4 0 8 ............................................
4-60s S eries E .................... . . . .
4-80s S eries F ............................
P e o p le 's G as L <fe C 1st 6s. 1943
R e fu n d in g g 5 s ............... 1947
C h ic G as L t & C 1st 6 8 ..1 9 3 7
C on s u m ers ’ G as 1st 5 s .. 1936
M u tu al F u e l G as 1st 5 s . 1947
S ou th Side E le v 4 *38..........1924
S w ift & Co 1st g 5 s ............1914
U n io n E l (L o o p ) 6 s ........... 1945
U n io n P a cilic oou v 4 s ___ 1911
U n ited B ox B oa rd 6 s .................
W e s t Clue St 1st 5 s ............1928
T u n n e l l s t 6 s .................... 1909
D e b e n t 6 s .......................... 1914
C on sol g 5 s ........................ 1936
W e s t D iv C ity R y 4 Has.. 1932
W e s t ’rn S ton e C o 5 s ........1909

W eek's
M ange or
L a st Sale
Low

R ange
lo r yea r
1907

H ig h

Low H ig h

100

M a r’ u ,

100

..........101 Hi 1101
....................ilO O
..................... 103
......... 68 j 6i.

J ’l y ' 07
M ay’ '07
A p r ’ 04
M ay I07

101

. j

J -J
J -D
J -J
J-D t

J-J X 97 4a......... !IOOHj N o v ’ Oe!
A -O
101
100 J ’l y ’ 07
F -A ......... 98
9634 J a n ’
A -O .......... 98
A -0
8 ? F e b ’ 06
J -J
J -J
M-N
il-S

80

M-S
J -D
M-N ..........
A -O t .........
68

F A
.T-J
J -J
J -J
A-O
M-N

S8*« Sale
81
fei*s
...........

102

100

55

6i

ib o " ib i"

79
79
80

J ’l y ’ 07
N o v ’04
A p r *04

77

81« b

100

100

100

1 0 2 34

89

90

100

100

90 D e c ’ 06
96 ** 96 Hj J ’ly ’ 07
96*4 95 J ’n e ’ 07

J -J
F eb

98*4
96
89

J ’l y ’ 07
M ay’ 05

A u g ’06
F e b '07

91 Sale
M-S
91
91
M-N ......... 92 4, 93 *%J ’ly ’ 07
J -D
100 4a M ar’ 06
M-S
97 Sale
97
97
98
M-N
98 J ’ l y ’ 07
99
M-N
99 *2 Sep ’ Oo
A-O
118
115 4a J ’ ne'07
M-S t 97 34
100 A p r ’ 07
J -J t
102
102 J ’l y ’ 07
J -D
100 101 A p r ’07
M-N
103 4a F e b ’ 06
J -J
99
98 J ’ l y ’ 07
J-J
100 4, 100 H 100*4 11>0 *«
A-O ......... 99 Hi 99 4a J ’l y ’ 07
M-N
114 N o v ’ 04
71*3 73
73
73
M-N
90
90 M ay 07
F -A
68 4a s e p ’ 05
J-D
73 J ’n e ’07
M-N
73 J ’ n e ’07
J -J
8 7 D e c ’ 06
A -O
964a Jan ’ 06

N ote>—A c c r u e d in te re s t m us t be added to all C h ic a g o bo

933s,
90 7fc
85

P8*4
8 3 ’-*
82
82
90 D e c ’ 06
79
75

H igh est

10 150
1,276
6*
105

428
445

R an ge tor P r e n o u a
Y e a r (1 9 0 6 )

M a r l9
3 *v M ay 14
13
P e b 15
15 M a r l4
"27a M avlS
14 A p r 23
49 M ar 2 5
81 J ’l y 29
23 J ’ ne27
62*4 J ’ne21
34 Hi A p r li
21 J ’ne29
58 A p r2 -l
75 M a rl4
28 M a i2 5
95 A p r 3
20 M a r l9

605
625

4 34 Jan 25
4 8 34 M a r l5
129 J an 7
15 122*2 M ar28
225 63 M ar20
103 J ’ly 18
30 Jan 2
34 A p t 20
106 A p r 20
50 M a r l3
165 F e b 27

Loioent

U iqh est

205 A p r
140 Sep 200 J a n
5 Jan 2-4
5 D ec
7 34 Jan
16 A p t
15 D ec 2 8 :is J an
3 a 34 J ’ly 6.1 M ay
46*2 J an
6 *4 A p r 3
4 J ’ly 13*4 Feb
19 *4 J an 9 12*2 May 46*4 M ar
65 Jan 16 54 HaJan 6S *2 Feb
87 Jan 17 8> O ct 93*3 F eb
30 J ’ ne
28 Jan 24 25 O ct
72 J an 15 65 *2 O ct 72 Ha N o v
J ’ ly 16 25 M ar 85 M ar
25*s J an 25 23 HaJ ’ly 28 Ha F eb
J ’ly 17 60 M ay 68 Ha M ar
Jail 4 89 HaA p r 99 J ’ ne
J an 1
27 May 3 5 34 N o t
M ay 18 97 D ec 102 J ’ ne
A p r 3 23 A p r 60 F e b
7 *4 A p r 11
60 A p r 10
133 F e b 21
130 A p r2 4
80*2 Jan 14
109 J a n 7
40 7Vlar28
40 J ’ n e Y
111 F e b 8
54 Jan 8
165 F e b 27

117g Jan
72 J an
130 N o v
136 Jan
81 N ot
N ot
115
31 *3 D eo
40 F eb
113*3 J ’ ne
64 *'eb
175 M ay
16 Ha F eb
1 M ar
7 Jan
165 F e b
63 F e b
139 J a n
118 Jan
147 Keb
7 l 34 Jan

1 Jan
5*8 J ’ ly 10
129 M ar21
38 J ’ ne 3
107 J ’l y 23
102*4 M a r l6
119*3 Jan 24
4 4 34 F eb 1

6 J ’ ne
51 J ’ly
115 Feu
128 4; D ec
54 Jan
101 Jan
17 F eb
36 Jan
106 u c t
55 May
468;)gM ay
16 F eb
1 Jan
1 M ar
6*u J ’ ne
6 N ov
149 A p r
136 J’ly
61 F e b
48 H. D ec
134 *3 A p r
101 A p r
112 *2 May l a 103 M #j
129 Hj May 15 118 J 'n e
57 M ay 2 41 Ha Sep

140
99
100
10

46 M ay 15
2 Ha Jan 23
25 F e b 5
73 >3 M a y 3 1
l l o 4, J ’ n e l o
70 A p r 18
107 A p r 9

7 9 78 F eb 80 F e b
46 Jan 11 46 M ay 48 Sep
2 HaJ an 23
1 34 May2 Ha F e b
27 M ar 4 21 J ’ ne 23 M ar
86 Jan 14 02 May 19 Hi D eo
11734 J an 7 113*2 Jan 119 O ct
84*a J a n 11 78 Jan 95 M ar
120 J a n 17 112 D e c 122 Ha M ar

255
613
878
75
7t'5
50
97 5
‘20

8 8 7s J’ly 93*4 M ay
4<» A p r l ? 57 Jan Hi 50 A u g 63 Ha iie o
8 8 34 A p r 17 9d J an 2 6 92*4 Nov 99 Sep
101 Hi M a r l5 113*3 Jan 16 101 *4 Jan 119 Ha Sep
133 A p r 9 173HaMay 3 .15 May- 152 *3 J a n
98*4 M a r l4 1023j Jan lti 99 Ha D ec 10634 F eb
1 Jan 2
2 *4 A p r 8
2 34 Jan
34 D ec
6 Jan 2 1 2 34 A p r 8
5 *4 D ec 17 *4 J an
22 HaJ ’n e l2 30 F e b 14 28 D oc 42 M ar
32Ha J a n 24

32Ha J a n 24

16*4 A p r 15

20

J a n 22

293* J ’ ne
7 s4 J ’ly
14*4 M ar
3*2 J ’ly

4434 F eb
14*4 M ar
20^8 N ov
4 36 O ct

Chicago Banks and Trust Companies

F-A
j

R a n ge to r y e a r
19 0 7

Sales
ot the
W eek
STiara

lO u lr o m is
*160
170
C h ic C ity Jtty............... 100
3 34
J ’ n e ’07 Clue & O ak P a r k ........100
14
J ’n e ’0 7
p r e i .................100
26*3
‘26 4, C h ica g o S u b w a y ........100
H Ha
J ’l y ’ 07 C h ic U n ion T r a c t ___ 100
18
J ’ly ’ 07
D o p r e t .................100
52*4
52*4 K ans C ity R y <fc L t ..1 0 0
*81
82 h
D o p r e t.................100
J ’l y ’ 07 M e tro p o l W S E le v .,1 0 0
•62
64
D o p r e t.................100
J ’ly ’ 07 N o rth C liic S t r e e t ___ 100
J ’ l y '07 N o rth w e s te r n E le v .,1 0 0
J ’l y ’ 07
D o p r e t .................100
80
80
S ou th Side E l e v ......... 100
28*4
29
S tre e ts W S table C L 100
97
J ’l y ’ 07
D o p r e t .................100
33
J ’l y ’07 W e st C h ic s t r e e t ........100
ltU n c e ilm ie o u »
5%
5*2
5 \ ] A m e rica n C a n ............. 100
5*8
5 2 34 53
5 2 34
52
D o pret'___ —____100
L a s t S a l e 133
J ’ n e ’ 07 A m e r R a d ia to r.......... 100
■123 125
124
125
D o p r e t .................100
7 i 3< A m e r S i u p b l d g ...___ 100
71*3 71 *■ * 7 0 7g
L a s t S a l e 103
J ’ly ’07
D o n r e f................. 100
L a s t s a l e 38
A p r ’07 A m e r S tra w B o a r d ..........
L a s t S a l e 38
J ’ly ’ 07 B ooth (A ) & C o ......... 100
L a s t S a l e li/8
J ’ l y ’ 07
D o p r e t .................100
L a s t s a i r 51*4
J ’ue'O Cal & C h ic Canal <fc DlOO
L a s t S a l e 165
M a r ’07 C en tral T r u s t B a n k .. 100
L a st s a l e lb
M ar’06 C h ica g o A u d ito r iu m ........
L a s t S a 11\l
J ’l y ’ 07 C lue B r e w ’ g & M a lt’g ___
L a st S a le
J ’ly '07
D o p r e t ........................
'1 4 0 143 S * 140
143 Hi O 'lic E d is o n .................100
L a s t S a le l-W
J ’ly ’ 07 Clue P n e u m a tic T o o l. 100
■112 1 17 *112
117
C h ic T e l e p h o n e ..........100
'1 0 7 108 *107
108
C liic T it le & T r u s t . . . 100
1 2 8 7g 1287g|*128*3 129
D iam on d M a tc h ......... 100
L a s t S a l e 51
J ’l y ’ 07 I llin o is B r ic k ............. 100
L a s t s a l e 3LK4
N o v ;05 K n ic k e r b o c k e r I c e . . . 100
L a st t a l i 8 >
F e b ’ 06
D o p r e t .................100
L a si S a l t 46
J ’ u e ’07 M a s o n ic T e m p l e ...............
L a s t S a l e **3
J ’ ntT07 M i l * C ine B r e w ’ g ............
L a s t S a l e i 6 *4 J ’l y ’07
D o p r e t ........................
7 3 j4 73=4
74*4
74 > N ation a l B is c u it ........100
115 115
*115
D o p r e t .................100
115*3
73
*72*3 73
N ation a l C a r b o n ........ 100
*72*3
'1 1 2
112*3 115
115
D o p r e t .................100
L a s t S a l e 5 j4
M ay’ 05 P a g e W o W ire P e n c e ___
L a s t S a l e 9 9 '3
J ’ l y ’06 P e o p le ’ s G as L & O’ kelOO
40
42
*40
42
Sears R o e b u c k c o m . 100
90
92
90
90
Do
p r e t.................100
105*3 106
1 0 5 '4 106 S w ift & C o .....................100
155 155
150
150 4< Th e <4uaKer O ats C o. 100
99
99
*93
D o p r e l .................100
99
* 1><
l 7t
* i 34
1 76 U n it’d B o x Bd<fc P ColOO
1 0 - 1034
lO^g
1 0 34
D o p r e t .................100
* 2 4 7i 25
25
W e s te rn S t o n e ............100
M in in g
L a s t S a l e i2Ha
J a n ’ 07 B in g h a m C on M in in g 50
L a s t S a l e 10
N o * ’ 06 B ia ck M o u n ta in .................
20
L a s t s a l e 16
i l a y ’07 D a iy -W e s t ............... .
L a st S a le 4
N o v ’ 06 H u b b a r d - E llio t t ...............
•160 170
L a s t S a le
L a st Sal
25*4 26
L a s t S a le
L a s t.s a le
54
54
*81
83
L a s t H a le
64
64
L a st S a le
L a st S a lt
L a s t S a le
80
*0
*28*4 29
L a s t .■ s a l t
L a st S a le

Chicago Bond Record
BONUS
C H IC A G O S T O C K E X C H ’ G E
W kkk E nuino A u g u st 2

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

....

22
....

6
....

75

76

89*3 92
95
92
97
98

97
98

116 Ha 1 15Ha
100 102 Hi
101 1 0 4 34
101 102
93 101
6 100 102*8
....
98*3 100
1

65
85

75
90

73
70

73
78

p r ice s.

NAME

B a n k ers N a t io n a l ........
(Jalum et N a tio n a l.........
C h ica g o C it y ...................
Jom m enciai N a tio n a l..
C on tin en tal N a t io n a l..
'Jook C o S tate S a v in g s
C orn E x ch a u g e N a t .. .
D rex el S ta te ...................
D ro v e r s D ep N a tion a l
E n g le w o o d Sta<.e ...
F ed era l N a t io n a l...
F irst N a t io n a l ...............
F ir s t N a t E n g le w o o d ..
F orem an B ro s B ’ lt’ g Co
F o rt D e a rb o rn N a t ___
H am ilton N a t io n a l ___
H ib e rn ia n B ’k ’ g A s s ’n
K aspar S tate B a n k ___
.vlonroe N a t io n a l.........
M u tu al B a n k ................
N at B a n k o t R e p u b lic .
N a tio n a l C it y .................
N a tio n a l L iv e S t o c k ...
N o rth A v e S ta te ...........
N o rth S ide S ta te S a v ..
O akland N a tio n a l..........
P rairie N a tio n a l...........
P rairie S ta te ...................
H auw ay E x c h a n g e ___
S ou th C h ica g o S a v in g s
S e c u r it y ............................
State B a n k o f C h ica g o .
S to c k Y a rd s S a v in g s ..
U n ion B a n k o f C h icag o
U n ion s t o c k Y ds S ta le
A m e r T r u s t & S a v g s ..
C en tral T r u s t C o o f 111
C h ica go Sav B k <& T r ..
C h ic a g o T it le & T ru st.
C itize n s T r u s t * S a v ..
C olon ial T r u s t <fc S a v ..
D ro v e rs T r u s t & S a v ..
F a rw e ll T r u s t C o .........
F ir s t T r u s t <fc S a v in g s
H arris T r u s t & S av . . .
Illin o is T r u s t <fc S a v ..
K e n w o o d T r & S a v in g s
L ake V ie w T r <fc S a v ..
M e rch a n ts’ L ’ nifeTr Co
M e tro p o lita n T r & Sav
N o rth e r n T r u s t C o ___
N o rth w e st T r & S a v ...
P eo p le s T r u s t & S av ..
P u llm a n T r u s t <fc Sav.
R oy al T r u s t O o .............
s t o c k m e n ’s Tr«fe S a v ..
U n ion T r u s t O o .............
W e ste rn T r u s t * S a v .
W Side T r & S a v B k ..
W o o d la w n Tr<fcSav B k

O utstand­ S u rp lu s d
in g
P ro fitsi
Stocict

D iv id en d R ecord
In
1905

$2,000,000 $1,249,848
8
100,000
34,849
5
500,000
10
l40,90fc
o 3.000,000 4,194,047
12
4 ,000,000 2,884,126
8
V,474
6
5 0,000
12
3,000,000 4,565,591
3 8,783
6
200.000
344,077
8
600 ,000
33,539 . . . .
200 ,000
7 /,9 3 5 B egan
500,000
12
8 ,000,000 7,066,676
10
150,690
100,000
636 ,0 78 P r iv
500 ,000
391,581
6
1,000,000
187,400 . . . .
500,000
8
1,500,000 1,111,362
200,000
100,297
52,OOii . . . .
300,000
81,213 . . . .
•250,000
6
2,000,000 1,178,604
1,500,000
361 ,939 B egan
1,000,000 1,327,639 1 2 + 3
52,719 Began
200 ,0J0
5,215
60,000
6
34,325
6
100,000
67,836
250,000
95,383 " i f
C500.000
14,586 B e g a n
250,000
71,046
4
200.000
300,000
8 3 ,278 O rga
1,000,000 1,068,513
b
155,373 N o n e
250.000
35,917 Began
200.000
53,030 N o n e
200,000
8.
3,000,000 2,666,839
990,474
2,000,000
5 Ha
»i97,26u
nSOO.OOO
6,000,000 Z l , 220,313 ' " 6
6,198 . . . .
50,000
636,791 5 4-5
600,000
6
9 4 .706
200,000
17,630 O rg a n
1.500.000
939 ,658
2,000,000
253,257 B eg an
1.250.000
4 ,5 0 0 000 7,906,299 12 + 4
35,437 . . . .
200,000
2 7 ,7 4 1
200,000
3,000,000 4,3 0 5 ,2 8 8
12
3 36 ,110
750,000
6
1,500,000 1,845,084
8
40,003 O rga
20,),0H0
54,938
200 ,000
fc500,000
172,514 " s
635 ,429
6
500 ,000
5,300 I n c o r
200 ,000
999,948 . . . .
1,000,000
1,000,000
291,671
6
200,000
27,862 Began
200 ,000
25,743

In
1906

Per­
iod

8
6
10
12
8
6
12
b
8
3
busin
12
10+10
ate Ba
6

q -Z
An.
J -J
^ -J
<^-J
m -j
y -j
y -j
Q-.T
Q -J
ess
Q-J
y -J
uk
Q-J
F -A
Q-J

J ’ly
i)ec
J ’ly
J ’ly
•i’jy
J ’ly
J ’ly
J ’ly
f ’ ly
J’ly
O ct
J’ly
J ’ly

6
b u s in
12+3
bu sin
6
6

Q-K
Jan.
H!-J
ess
y -J
ess
Q-J
<4-J

Au g
Jan
J ’ly
Keb
J ’ly
D ec
J ’ly
J ’ly

1138
bu sin
5
n ized
8

Q-J
ess
Q -J
oct
Q-J

J ’ly ’07, 2c
J uiy 3, 1906
J ’ ly ’ 07. 1*3
12, 1906
P ly ’07, 3

io '
**y
....

L a st P a id
%

J ’ly ’07, 2
Peb ’ 07, 2*3
J ’ly ’07, 2

M ay 1, 19(1 6.
Q-J J ’ ly
6
Q-J J ’ly
8
y - J 1'iy
7
"if

’07, 2
’0 6 , 6
’07, 6
’07, 3
’ 07, 2
’07, lHa
’07, 3
’ 07, lHi
’0 7 , 2
’ 07, l * .
16, 1905
’07, 3
’07, 2 Hi

’ 07, 1
’ 07, 4*3
’07, 2
5, 1907
’07, 3
8, 1906
’07, 1*3
’07, lHa

*07, 1H»
’07, 2
’ 07, 134

Q-J J ’ ne ’ 07, l*a

. . .

...

___. . . . . .

10
Q-J J ’ly ’07, 2*3
6
Q-J J ’ly ’07, 1 Ha
ized A pr 3 1907
busin ess
12+4
II
Q-J
.
Q-J
12
y -J
Q-J
6
u-J
8
n ized J ’ly

Feb
J ’ ly
J ’ly
J ’ly
J ’ly
J ’ ly
J ’ly
2 b,

....

4, 1907
’07, 4
’ 07, 1 *3
’ 07, 1
’0 7 , 3
’0 7 , 1>»
’07, a
190t>
...

.....

8
Q-J J ’ly ’07, 2
Q-F M ay ’ 07, 2
8
porate d M a ioh 1905
.........

6 + 1 Q-J J ’i y
busin ess Sep
Q -J J ’ly
6

’ 07, I * ,
5, 1906
’ 07, 1*3

||D iv id en d s are paid Q -J, w ith e x tra pay m en ts Q -F. H In clu d e s special d iv id e n d o f 3 0 % p aid D e c. 18, 1906.
* B id and ask e d p r ice s ; n o sales wer*
made on th is day. t N o p r ic e F rid a y; la te st p rice th is w eek , n Due D ec. 31. a Due J u n e , c Capital in c re a s e d Jan . 1 . 1907 fro m $ 2 5 0 ,0 0 0 , a cash d iv id e n d
of 30 p er c e n t b e in g d e cla re d and to be ta k en as part p a y m e n t fo r new sto ck , b D u e J u ly , ic C apital in c re a s e d fro m $ 3 0 0 ,0 0 0 , a s to c k d iv id e n d ot 33*3
p c. b e in g d ecla red in pare p a y m e n t th e re fo r.
n C apital and su rp lu s to be in cre a se d .
0 C apital in c re a s e d fro m $ 2 ,0 0 0 ,0 0 0
t M ay 20, fo r N a tio n a l Banks, and M ay 21, '07 fo r S tate in stitu tio n s. % A s o f J u ly I, 1907.
su rp lu s,




an d $ 2 ,0 0 0 ,0 0 0 added

BOSTON STOCK EXCH IN ’-O-E— Stock Heoord, Daily, Weekly and Yearly
' h a r e P r i c e *— >01 H er C e n tu m F ric«»«
ScUnraaii
J u ly ‘2 7
*94 4
*93*4
2 20

943^
94 >4
220

* ......... 140
* 2 ]4 215
*160 .........
*3 0 0 " m u .
*23 Hi 24
• ....... 70
1 40 140

* 1113
•
'8 0

........
85
82

*14
*65

15
68

*2l %

166

2 2*8

166**

......... 188a4
"3 4 " ‘ 35"
.........
•..........
146*2
82%
87
*100

*85
95
146%
82 \
87

*18
20
*81
82
*5 Hi
6
*15 *2 16
1 2 2 34 12234
126 125
107 % 107 Hi
* 2 6 34 27 Hi
91 Hi 91*2
*3 Hi 4
•103 *2 104 Hi
*7a4
8
*211 Hi 212
•6 8 *' *68 S
83 *4 83*2
•207 ........
*2 ........
72
72
•86
88
*109 111
*163 ........
•10
10 Hi
106 106

*20

21

*26 ____
*2
3
1103*111
60
60
27
27
37 % 87 Hi
! lO O -jlO l
•5 H» e
•60
70

*23*
•45
89%
*3 4

3
47
90%
34 s

* 6*4 634
24 Hi
* a« 1
•Hi 1
* 1 1 % ..........
9
9
lo
15
•......... Ma
*27*4 2 7 Hi
* 2 6 * 4 25%
167 lb 7
8 00 800
28*9 2SHi
•35
*06
80*4 80 H
16
16
*24

* 1%
*13*2

2
14 H,

16%

16*»

‘ 1*934* *1*9 *’4
*15
16 “4
*5*2

6

*•60

-60

11

U

13% 13 Hi
81
81
2=0
2\
*14 Hi 1434
82
82*1
*•60
1
44
44
127 I 28
*1 9 .........
*1 %
•117 118
•5
6 Hi
3*4
3*4
16*4 16
•104 108
23
23
•62
63
*11
11%
48H 48 H.
43
43
46
46*4
*7
7*4
•1
8
8
162 162
*1*4

t B e fo r e

1*2

M onuav
J u ly 29

lu e s a a v

July 30

IV ea n esa a y
J u ly 31

T h u rsn a v
A vgust 1

F rid a y
A u gust 2

S T O C K .!*
BO STON STOC K
EXCHANGE

H anae to r y e w
1907
Ween
Snares

K anqe 1o r P r e o io u i
Year C l9 0 6 )
■Lowest . M iqiieat

H .ailron <ls
155 8 3% M a rl4 107*2<lan
86^4 J ’ ly 110% Sep
92
92
•92%
9 2 B,. A tc h T o p & San ta FelOO
93
9338
91*2 91*2
9 4 1* 9 4 ^
r97% Dec 105 *» J an
9i 34 J’ riel4 1 0 1 % -Ian
Do p r e f.................100
J ’ly >07
* 9 2 7g 937, *93*8 94 H *92 Hi 93 Hi L a s t S a l e 93%
239 Dec >257*4 *'e b
B oston <fc A lb a n y ___ 100
213 J ’ ly 9 240 F eb
♦222 225
223
223
220
221
220
220
220 220
B oston iCievated____ 100
1 2 l 134 M ay
Jan 2 14 7 A u g 160 J an
•......... 136
139 140 * 1 3 6 136
•......... 140
Jan 7 230 D ec 246 *2 A p r
37 200 J ’n e l9
2*15** 2*16* B o sto n & L o w e ll........100
215 215
215 215
>214 ........
214 215
M ay ~ 100 D ec 180% A p r
18 152 M a rl4
B oston <fi M a in e ........100
160*4 161
160 160
160Ha 160 *t *160 ____ *160 ____
15S M ay 4
D o p r e f _________ 100
J an 3 164 O ct 17 5 % M ay
J ’ly ’ 0 '
L a s t S a l e 160
Apr
K eb25 9^*2 D ec 314
2294*2 J ’li e 2 1
C a s t S a l e SOU
J ’ ly ’07 B oston <fc ProvirtencelO U
>3*00* I " I I ’3U0 * I I I !” • 30(5" II” !
F eb 16 13 A <>’ 2 % Fel>
8 J ’ ly
J ’ly ’ 07 B o st S u b n r o a n E i «Jos. . .
L a s t S a le S
Keb
J ’ ly 1
Jan If, 63 Jan 75
Do p r e l........................
L a s t S a le 53
J ’l y ’ 07
M a r l3 28% J a n 2 25 Jan 39*2 A p r
23
B o sto n <!fcWor ifllec C o s ..
24
23*8 2 X%
2 3 es *3»8
23*2 23
J ’ ly 22 80 J a n 23 72% •Jail 90 A p r
D o p r e f ........................
L a s t S a l e 70
►......... 70
J ’l y ’07
......... 70
70
39 J ’ly 1 1‘ 160 J a n 17 156 O ct 182 # J a n
O hio J u n e R y & U S Y 1 00
140 140
110 A p r 8 120 Jan
D o p r e f.................100
J ’ l y ’ 07
L a s t S a l e 112
117Hz J ’ ly 127 Jan
M ar
184*4 A p r 2 5 183 F eb
I 8 7 34 N ov 90
L a s t S a l e *>-*% A p r ’ 0 7 Con <fc M o n t C lass 4 ..1 0 0
152 J ’ ly i7 156 M a r l l 15S Oct 163 A p r
J ’ l y V / Conn <& Pass B iv p r e f 100
L a s t S a le 752
Oct 298 A p r
260 M ar2* 280 Jan
2 '5
L a s t S a l e 265
J ’ l y ’ 07 C o n n e c tic u t R i v e r . ..1 0 0
120 J 'a « 1 5 135 J a n
F itc h b u rg p r e l ............100
132 Oct 145 J a n
............ 123
123
123 123
•123
.........
123 123
675 J ’ n e 1 114 M ar 2 2 95 j a n 107 A p r
85 G a R y <jb E le c t r ic ___ 100
' ............ 8 5
85
85
' .......... 85
85
85
82 May29; 88 M ar 7 89 Dec 95 Jan
D o p r e f .................100
L a st S a le S2
J ’l y ’ 07
*80
85
•80
82
Uec
193 J ’ ne25 198 Jan 11 197 M ar 200
L a s t S a l e 195
J ’l y ’ 07 M ain e C e n tr a l............. 100
14*2 M ar22 2 0 Hi Jan 9 17 Jan 23 J ’ n e
*14
15
•18*2
*14
15
15
15
*14
15
1 4*4 M ass K l e c t n c C o s ___ 100
i ’ne
55 M a r . 6 ^ 71H, Jan
59 Hi J an 75
56
D o p r e f ................ 100
56
56
66
64
55
66
66
55
55 H;
19*4 M ar 9 2 5 34 J a n
21°f, A u g 28*4 Dec
M a r’ 07 M e x ica n C e n tr a l........100
*21 Is 22 *8 *20*4 21*4 *20*4 21*4 L a s t S a lt i 9 34
166
5 9 34 J ’n e l - 190 Hi Jan
190 J ’ ly 207 *4 J a n
166 N Y N H <fc H a r t . . ..1 0 0
166
166
166 1B6 j4 166 167
166 166
152 M ay23 160 Jan
L a s t S a l e 152
155 Sep 163 F e b
M ay’07 N o rth e r n N H ............100
222 A p r 23 226 F e b
L a s t S a l e 2-12
228 J ’ ly 233 *2 M ar
A p r ’ o7 N o r w ic h & W o r pret'100
198 D ec 210 Jan17.' 187*2 J ’i y 15 200*4 Jan
190 Old C o lo n y ...................ICO
188% 1 8 8 34 1 8 8 * 4 1 8 8 3, 188 Hi 189*2 1 8 9 * 2 1 8 9 -ti •188
5 J ’ly 31 52 Jan 16 53 Sep 53 % O ct
402
P ere M a rq u e tte ..........100
5
5
34
462 34 J ’ ly 19 57 Jan 18 60 Jan 65 O ct
*34
D o p r e f . . . ............100
34
34
34
34
*34** *34 *
34
34
26 J ’ n e 5 45 J a n 24 47 Hi N ov 64 J a n
J ’l y ’ 07 R u tla n d p r e f............... 100
L a s t S a l e 40
85 A p r 30 94 J an 2 1 65 Jan 1*9 O ct
L a s t S a l e 65
1......... 85
' ......... 85
J ’l y ’ 07 S eattle E le c t r ic ..........100
’ ......... 85
94 J ’ ne20 103 Jan 7 95 Jan 06
' .......... 95
FebL a s t s a a yrf*2 J ’ly ’ 07
D o p r e f.................100
' ......... 95
139HiMa> 195 s e p
142% 144
U n ion P a c ific ............. 100 3,107 124 M ar 2 6 182% J an
1 4 1 34 U 334
141a4 142
144*8 146% 1 4 3 % 1 4 4
22 8 2 % J ’ ly 27 93 J a n 15 91 May 99% J a n
D o p r e f .................100
"8 3 *4 84 k ♦ 8 3 * * 8 3 Hi * 83% 84*4 •83% 84*4
83*2
83*2
L a s t S a l e 151»*« J ’l y ’ o7 V e r m o n t & M a s s___ 100
150*8 J ’ly 22 170 J a n 30 170 Sep 178 A p r
92 D ec 101 J an
88
ti8 W e s t E n d S t ............... 50
309 84 J ’n el'J 95 J a n 2
88
88
•87*2 88
•87*2 88
87
87 Hi
M ar
107 Sep 116% A p r
'1 0 0
__
D o p r e f ................. 50
14 99 J ’ ne28 n o
'lo O
........ ■100
100 100 *100
L a s t S a le 14?
147 J a n 15 147 Jan 15 150 F eb 150% t'eb
J a n ’ 07 W o ic N a s h c fe R o c h .,1 0 0
tliNCellaneoUH
15 J ’n e 5 26 J a n
21 J ’ly 34 J a n
20
J ’ly ’ 07 A m e r A g ric.u l C hem .iO O
•18
*18*2 19*2 L a s t S a l e 19
♦18H* 20
81
90 D ec 102 Jan
82
*81
82
•81
82
82
D o p r e f .................100
38 78 J ’ nelO 95 F e b
•til
•81 ’ 82
0
3
4
63.
534
•5%
6
5 *2 A u g 1 143, J a n 8 10 ^ D e c 29 M a r
6
6
5 *2 6 Hi
6 A m e r P h e u S e r v ........ 50
7u
16*2
Do p r e f.........
50
165 16*2 J ’ly 20 33 Jan ~ 26 A u g 46 A p r
15*2 16%
16
16
15 Hi 15 Hi
15*2
*15*2 16
121 12
121
122
A m e r S u g a r R e lin ___ 100
561 11634 M ar26 137*4 F e b 11 128 Ma> 1 5 6 % J a n
1 2 0 % 121
122 Hi 122% 12 i 122
*125 126
125 126
D o p r e f ................. 100
64 120 M ar25 131»4 Jan 1 130 Dec 141 J a n
'1 25 126
125*4 125% 125
125 *s
107% 107*2 A m e r T e le p & T e le g .1 0 0 1,067 al037g J ’ n e l7 1 3 4 Hj Jan 2 128 J ’ ly 1 4 4 7g Jan
107 107 Hi 1 0 7 * 4 1 0 7 * 2 107*2 107*2 107 107
A m e r W o o le n ............. 100
*26
27
*26
2“
15 24 May^V 36 Hi Ja n 7 28 N ov 4 7 J4 J a n
27
27
26*2 26*2 •26
91*2 92
91 Hi
j j o p r e f ........ ........ 100
194 90 J ’ ne27 102 *2 J an 8 1 0 o a4 D ec lK B t F eb
91*4 91*s
9 1 7a 9 17*
91*4 9 l *2
9 IS
L a s t S a l e 3 l2
4% J ’ n e
3 M ar^ 8
334 Jan
4 Jan 16
*3Hi
4
*3 H2 4
*3*2
4
M ay’ 07 B o sto n L a n d ............... 10
103 Hi 104 Hi 103*4 103*» *103 104*2 ■103 104 Hi 103
104*2 O u m berl T e le p & T e l 100 ' **23 102*2 J ’ly 24 115 J a n 10 115 J ’ly 118% M ar
22
2 ‘2
D om in ion I r o n <fe S t ........
25 1 6 -, M a r 26 25 F e b 19 2 1% N ov 34 A p r
L a st S a le 8
7 M ar
5% Jan 10 A u g
9\» J a n 3
* .........
8
J ’ n e ’ 07 E ast B o sto n L<and.............
* 734
8
♦734
8
211 Hi 211 Hi 211 Hi 21 l H, 2 1 lH i2 llH i 211*2 211*2 E d iso n E le c I li u m ...1 0 0 '*3*0*5 200 A p r 1 230 J a n 7 225 D ec 2 50 Jan
211 Hi 212
136*2 137
G e n e ra l E le c t r ic ........100
139*2 139*2 139 li>9
135 136 M ay2S .6 2 J an 2 . 167 D eo 184 O ct
**68** * 6 8 ”
57
67
*67** *6*7 M ass’chusettaG asC oslO O
644 o i *4 M ar2o 6 6 % J a n tv 44 M i) 64% J ’ n e
68
68
•68
68 Hi
83
83
82%
83
83** 83*4
83*4 83*4
83*4 fc3*4
D o p r e f................. 100
2 8 l 80 M ar26; 86*2 A p r 2b 84 Hi D ec 9 0 Sep
L a s t S a l e 206*1 J ’l y ’ 07 M e r g e n th a le r L i n o ..1 0 0
r207 Hi 210
*207*2 21 0
199 Jan 2 215 M ar 1 190 Mai 210 D eo
'2 07 *2 210
•2 ____
J ’n e 3
534 Sep
L a st sa le 2 U
4% J an 19
3 Jan
*2 . . . .
*2 ..........
J ’l y ’ 07 M ex ica n T e le p h o n e ., l o
72
72
'.......... 72
N E C o tto n Y a r n ___ 100
75
75
72 Ha 72Hi
..........
73
157 46 J ’ ne 3 75 J ’ly 29 2 7 M ai 60 N o v
*87
8ti
1
88
*87
88
•87
HS
88
h8
D o u r e f.................100
30 »4 M ay29 9 0 J a n 1*2 8 0 Mai 90 *4 N ov
ib'ti’ ’ 109
109 109
109 109
N E T e le p h o n e ............100
■107*2......... 107*2 ___
15 109 J ’ly 15 126 J a n 7 126 D ec ■41 *9 A p r
183
103
162
163
164 164*2 165 166 2 1 6 3 163
P u llm a n C o ...................100
238 156 M arlS 182 J a n 7 180 D ec 20-> Hi N ov
9*2 J a n
11 D e c
10 H. *10
10%
10% R e e c e B u tt o n -H o le ,. 10
•10 .........
10*2
10*2 10 H, *10
110 £9 *4 A p r 0 11 J a n lo
106 10b
ll>5 *2 105 Hi 106 106
105 *9 106*8 1 0 5 34 106 S w ift & C o ...................100
72 X iO i M a r i5 113 J a n i 6 101% J ’ ne lzO Sep
•'20
21
20 -2
20 Hi T o r r in g t o n C lass A . . 25
22 *4 D ei 23
*^0
21
* 20
21
b'eb
20*2 20
50 *0 J’n e l3 2 2 Hi J a n I .
24% May « 27*2 J'*y 26 25 J ’ ly 27 % X o v
*26 . . . .
D o p r e f................. 25
*26 .......... *26 .........
L a s t S a l e 27*9
J ’l y ’07
1*4 A u g 2
6 % J a n 24
1..........
2
*2
3
2 J ’ ne
5 *» D eo
1*2
2*8
*1*7*5
1%
1-4 U n io n C op L ’d & M g . 25
110 I U P 4 i i o
110 Hi i ‘io * ‘ 111
111 111
1U
in
U n ite d F r u it ............... 100
672 10.534 M a r i 1 113 A p r^ o 103% May 11334 M ay
A u g 1 69 Jan
49
49
49
* 6 0 Hi D e c 86 8 FeU
49 Hi 4 9 >
4**2 48Hi
49
U n S h o e M ach C o r p . 2
49*a 49H.
866 48
* 2 6 34 21
27
28 *8 Dec 32% J ’ ly
* 2 6 34 27
27
27
•;:6 % 27
D o p r e f................. 26
142 25 M ay 1 29 Jan
27
323* J ’ly 00*8 0 o t
36% 37*t,
35
35 H2 35*9
3 i* s 3734
35*2 36
35*4 U S S te e l C o r p ............100 5,867 31 % M a y 2 1 5 0 % J a n
1 0 0 % 1 0 0 % 1 0 0 3? 100% 1 0 0 % 10o% 100 100% 100
92*4 M ar^o 10734 Jan
99 J’ ne 113% F eb
100 '8
D o p r e f ................. 100
44
5
n a i’25
9 Jan
•5*2.........
* 6*2
8 No* 17 *2 J an
'5
6
0*2
5 *2
W e s t T e le p & T e le g .1 0 0
77
' 0*4
t>
•65
7o
•65
70
79 Nov 98 *2 J an
*65
70
z 6 7 Hi J ’ly 19 82 J a n
L a s t S a l e 67-2
D o p r e f.................100
J ’l y ’ o7
71*2 A p r 22 78 Hi J a n lb 7334 Oct
L a s t S a l e 72%
86 F eb
J ’l y ’ 07 W e s tin g E l <fc M f g . . . 50
76 M ay 6 80 F e b 2t
75 N ov 98 Jan
L a s t s a l e 76' • M ay’ 07
D o p r e i ................. 50
M in in g
•2*2
3
3
3
2 J ’n e
8 % O ct
*2Hj
3
6 Hi F e b 20
4 Hi Dec•2*2
3*2
4 A d v e n tu r e C o n ............ 25
435
*43
46
•40
45
45
•41
44
44
l o 44 J ’n e 2 i 74*4 Jan 1* 31 m J ’ly 65 *4 D eo
45 A l l o u e z .......................... 25
8 7 34 fc8 Hi
84%
8 ti*» 90
92 % J ’ly 118 F e b
85*4 68%
83 7a tio
85Hi A m a lg a m a te d CopperlO O ■28,344 79 M ar26 121 Jan
31*4 32 34
8 % A u g II4 5 Deo
323* 34 Hi
33*2 3 3 a4
32Hi
32*4 34
33 Atn Z in c L ead <& S in . 25 1,720 3 1 ‘4 A u g 1 53 J a n 22
6 5 34 66
57
67 >4
67
67
A n a c o n d a ..................... 26
63*4 5rfV
13“ 53*4 A u g 1 75 F e b ib 57 *2 May 74 F e b
6
4 % J ’n e 4 15% Jan
6
6
6
6
5*2
6»8
2% J ’ly 15% N ov
5-2
5 *2
6 A r c a d i a n ...................... 25 1,140
22
22 Hi
20
20
20
23 *2 24
20*a 22
20 A r iz o n a C o m m e r c ia l..25 1,2 2 * 20 A u g 1 2 6 H1 May
% J ’ut
*H)
1
a4 A p r 16
*2 Jan
2 ‘4 D eo
L a s t S a le
•Hi
1
•Hi
1
J ’ly ’ 0 A r n o ld ............... .......... 25
•90 Sep
1 Hi J a n
Hi May 2 b
L a sts a le
1 % J ’ ly
" *2 1
• *2
1
**2
1
J ’l y ’ 07 A s h B e d ........................ 25
13
13
10a4 May 28 '4 J an
*12*4 13
12*a 12 Hi
12*4 12*2
12*4
1 2 - A t l a n t i c ........................ 25
690 11 J’n e i l 22 F e b 2 e
8
8
7% J ’n e U 12*9 A pr
8*2 8 7,
8
8*8
a *2 8*4
8
b a4 B alak lala te m p c e r tfs . .. 4,675
15
15
l4 H j I o n
*14*9 16
14 Hi 14*2
14*2
16 -v B ingh am c o n Jlin<fc S 50
285 1 2 a4 J ’n e 17 37 Jan 14 26 J ’ly 49 ‘8 F e b
>........... -4 5
' .......... -45
L a s t S a l t ■4U
■...............-4 5
40 J ’l y i ; ■80 Jan 17 45 May 90 u c t
J ’ l y ’07 B on an za (D e v C o ) . . . 10
25
26 *2
6 *2
26 Hi 26*2
25 Hi 26 Hi
25 Hi 26*2
25- Hi B o 8tonConC<& G (rcts) £ 1 i ‘, 6*6*0 _0 H iM arz6. 3314 J an 6 2 0 % Mai 35% o c t
2 3 34 24*4
24*4 24*4
23 *4 23
24
24*9 25
24 B u tte C o a li t io n .......... 15 3 ,7 e 8 2 m *9 M ar26 o y i^ J a n 7 25 J ’ly 42 O ot
165 165
165 165
164 165
163 163
162
163 C a .u m e t <3c A r i z .......... 10
940 148 M a r i5 198 F e b 8 107 J ’ ly 1 » 4 D eo
tiOO 80O
798 800
790 795
780 7 tio
675 May 9 00 Deo
775
780 C a lu m et <fc H e c l a . .. . 25
111 766 J ’ n e i7 1000 F e b
28
28
26
17 % J ’ly 4 0 ‘s D eo
26
26
26
*26
29 Hi 29 Hi
27 C e n t e n n ia l ................... 26
255 23 *2 J ’n e in *7 i r e u l '
•40
"40
•45
"4 o
•39
'4 0
••40
•40
•45
1 1,265 •35 M ar^5 •62 Jan 19 •35 liei •70 J a n
•40 (Jons M e r cu r G o ld ...
78
80
78
78*4
76
77
7 6 34
6 6 % J’ ly 86*2 J a n
76*2 7 73«
77*4 C o p p e r R a n g e C on ColOO ft,a» 4 72 M a r . 6 105 J a D l-i
16
16
16
15
1534 1634
15
15
16*4
15 D a l y - W e s t ................... 20
965 14 M a r l 5 2 o HiJ an *3 14 M ar 2 i % N ov
56*9 J 'n e 2 8 7 o % M ar 2 61 Hi O ct 84 Feb
L a s t S a l e 5 6 Hi J ’l y ’ 07 D om in ion C o a l.. . . . . . 1 0 0
L a s t e>a< h O
D o p r e l........... .. .1 0 0
10JH iJ’ *y 10 114 J an 12 113 Nov 123 M a r
J ’ly ’ 07
134 M a y 2 7
4 % J a n it.
• 1%
2
2
•1%
2
3 Hi D eo
* 1%
‘3
2 E lm R iv e r ................... 12
1%
1\
1% J ’ ly
65
13
14
13
13
1 2% 12 7s
12*9
12 Hi 12 Hi
12*9 f r a n k l in ........................ 25 1,146 1 2 > « J ’ l y 3 1 29*4 M ar 1 14 -2 M ») 2 o *4 S ep
120 120
120 120
120
120 G ra n b y C on solidated. 100
66 * 1 1 9 J ’ n e u 1 5 1 t e o fc 131 D ec 140 D ee
15% 15*2
15
15 Hi
15
15% 16
16
15*8
1 6 > , G r*en e- Cana t^m o tfs
&,540 1 4 M a y 2 6 17% A p r
L a s t S a t e •S'*
6 *4 J an 1
5
4*2 Jan
7*8 J a n
J ’l y ’ 07 (iu a n a ju a to C o n s o l..
3 *e J ’ ly 17
18% "l*834 *1*8 ** **18
*18 Hi *1*9 Hi
17% 17Hi
17%
17% Is ie rtoyale (C o p p e r ). 25 i ’,025 i y £>4 M a r 26 3b'Hi J a n 14 15% J’ly 2 9 % J a n
15
lo
*14*2
15
14
14*2 1434
13*9 133.
14 Da S alle C o p p e r .......... 25
663 12*2 J ’u e i9 30 F eb
5*4
6
5%
6
6
*5*9
6
6
6*4
4H iJ’u® 31 9 *4 J an lo
6 *2 J ’"ly *12 *8 j a n
6*4 M ass C o n s o l................. 25: 2,965
*•50
*60
•■55
-60 *•55
1% J a n 24 •40 J ’ ne
-60
■56
1 *2 J a n
'•55
•65
•65 M a y tlo w e r..................... 25
60 50 A p r
11
11
10% 11
10%
•10 Hi
11
•10*9 11
11 M e x ico C on s M & S . 10
320 10 a4 J >y 25 15 *4 Jan 2 -. 13 N o» 14% Deo
13
13
* 1234 13*2
13
13
13 Hi
13*2 I 3 a4
13 M ic h i g a n ....................... 25 1,275 1 2 ** J ’ n e i O 24 Hi J a n 15 1034 j ’ne 22 hi D eo
79
fcO
•79*2 80*9
78
79
76%
7 6 S M o h a w k ........................ 25 1,217 68 .u a i2 o 96 -1 Jan 14 54*2 Mar 80 D eo
76 Hi 78
3 % May 7
1% Dec
•2 **
2 7e
l a4 J a n 18
*2*a
3
*2*2
2\
2%
*2*9
7 *2 F eb
2%
210
2a4 M o n tan a ConsolC«fc O In
*14
14-*,
11 Jan 23% O ct
1 3 ’ , 13% *13% 14*» •13% 14*4 *13%
1 4 * 8 -\ ev ada C o n so lid a te d
5 1,110 l'.'ia J ’ u e l 9 2oHi J a n l
7 9 '*
80
78
7 9 3,
77
7934 82
78 N o rth B u tt e ................. 15 7,073 72 M ai 26 12o Jaoi 5 74% Mai I I •% O ot
7 6 s4 78
*•60
1 ••60
2Hi Jan 4 •70 J 'ly
1
*•60
1
L a s 1S a le
M a r l4
J ’ly ’ 07 O ld C o lo n y ___ _____ 25
2 *8 D eo
42
42^
M ar 26 63 F e b i 4 33 J ’ ly 6 6 34 (jo t
42 S 43
41% 42%
41
4 1 3<
40
41 * 4 Old D o m in io n ............. 25 5*4*67 36
125 127
93 Mai I j I
126 Hi 126*2 125 125*2 125 125
123
125 O s c e o la .......................... 25 1,071 115 M ar26 181 F e b 2i
D eo
■19
20
*19
20 *18
19
18
18V •18
P a rro t vSilv<fc C op p) 10
296 18 J ue24 35 J a n 14 22% J ’ly 4 8 J a n
•60 M aj
*1*#
1%
•1**
1%
* 1%
1% L a s t S a l e i* 4
J ’ i y ’ 07 Phoenix C o n s o l............ 26
1 Jan 5 13 Jan 2
i % D eo
F eb
80
J ’ly 114 J a n
115 115
117 11/
112 115>i 113 113
112
113 Q u in c y ............................ 25 **9*6*3 108 M a r 2 j 1 4 8
6
6
*4:,4
6
6
5\4
5
5
434
4 i 4 J ’n e 6 f 12 *4 Jan 15
4 a4 Rh ode Isla n d ............... 25
3*4 J ’ ly
9 * 8 Deo
4Z0
7 *, Jan
2 M ay2 ^
3*4
3 *4
3
3
3
3
3
3*4
3*4
3*8 San ta F e (G o ld <fc C op) 10
5% N o v
1 *8 J 'ly
783
16% 16*2
15*4 16
16
16*4
15%
lo>8 16*2
6 % Jan 18% N o v
16 Hi S h a n n o n ........................ l o 6,633 1434 M ar26 2 4 % Jan 17
101 104
170
Jan
14
102 102
y9
H
i
A
u
g
1
100 100
12
2
ja n
100 T a m a r a c k ..................... 25
99 Hi 99 H, *99
90 J n e
673
20
21
22=8
21% 2 1 7s 20
19
21*4
20
2 0 % T r in it y ............................ 25 5,146j 14 7a Max-26 42*4 J a n ^4
7% J’ ne 2 o >9 D ee
62% 62%
M ar26 77*4 M ar 7 57*4 Ma> 78 F e b
62% 62 H
61*« 6 i 7e
61% 61Hi| 6 0 *1
60*4 U n ited C o p p e r............l o o
8 1 0 53
85% 85*2
86*2 85 °8
85
85
Do
p r e f............... 100
86*2 85*2
176 e7 M a r io 91 May 1 88 J&n I I I F eb
9 M ar 16 13 >4 J an 22
10% 1 o 34
10% 11
* 1 0 34 11
11
U n it S tates Coal & O il 25
14% M a r
11
9*4 S e p
30.>
10% 1 0 34
48Hi 49*4
4 8 34 48%
43 >* 4 8 34
48
48*4 4 8 H.
48 •U s S m eit Ref.cfcM in. 60 1 ,9 4 4 47 J ’ ne25 70 Jan 2 51 M ar 0 6 J a a
43
43 s,
43*4 43*2
43
43
43 ‘4
4 3%
43%
D o p r e f................. 60 2,385 4 1 &, M a r, 5 4 9 J a n
43 Mai 47 7s S ep
43k
4.>;i.{ 44%
44 *2 4 5 * 8
4 4 >2 46*4
43*4 44 Hi
44
6 5,051 42 J ’l y . o 79 Jan 14 52*4 J ’ ne 6 9 % J a n
4 4 * 2 U tah C o n s o lid a te d ...
7
7
7
7
k *4 M ar
6 *»
6 *»
6
6 M ar 15 11% fcek>27
26
5 % N ot
6*2
6 Hi
6 H> V i c t o r i a ............. .
670
*1
•1
L a st S a le
1 M a y2 i
2% D eo
J ’l y ’ O. W a s h i n g t o n . . . . . . . . . 25
3 Hi M ar t, ■60 J an
8
8
7 J ’ n e 4 14 Jan 23
4 J 'ly 13 % O ot
7%
8
7 ’9
* * 7 % *" 7*a4*
7 j4
7 a4
7 Hi W in o n a . . . . . . . . . . . . . . . 25 **8*76
168
162
157 157
156 165
158 160
160
160
W o l v e r i n e ...........
25
116 160 A p r 16 198 D 'e b il 131 Jan 90 D eo
a% D eo
1%
IV
•1
1%1
620
1 M ay22
3% J an 22 70 J ’ ly
* » *s
1^4
*1*8
1 *4*
1*. W ya n d ot........................ 25
1*4

_

.....

p a y ’ t o f a s e e s s ’ te o a U e d in i a 0 7 .




* B id a u d a s k e d p r ic e s .

IN ew stook .

t A s s ’ t p a id .

tE x -r ig n w .

a E x - d i v . <fe r i g h t o

bS

i s t o o k d iv id e n d .

Price
F r id a y
A u g u st 2

B O S T O N ST O C K H X C H ’ S i
W e e k e n d in g A u g u st 2
Am B oll T e le p h o n e 4 s ___ 1908
A m T e le p <te T e l c o ll tr 48.1929
A m W r it Paper 1st s i 5 s g 1919
A tell * >< a brask a 1st 7 a .. 1908
A t c n T o n * S F e g e n g 4 8 .. 1996
A d ju s tm e n t g -is___ J ’ ly 1995
S t a m p e d ......... . . . . J ’ly 1995
B o sto n .E iect L ig h t 1st 6 s. 1908
C on sol 5 s ............................ 1924
B oston & L o w e ll 48............1910
B oston cfc M ain e 4 % s ......... 1944
B oston T erm in al 1st 3 % s .l9 4 7
B u r <fc M o R iv e x 6s ........... 1913
N o n -e x e m p t 6s .................191&
S in k in g lu n d 4 s ............... 1910
B u t t e * B oston 1st 68___ 1917
C edar Rap & M o R 1st 7 s . 1916
2d 7 s .....................................190^
C en t V erm t 1st g 4 s ..M a y l9 2 <
C B & Q Iow a B i t 1st 5 s . 191)
Io w a D iv l e t 4 s ...... .........191!
D eb en tu re 5 s .................... 191.
D en ver E x te n 4 s ............. 192'..
N eb ra sk a E x te n 4 s ........1927
B & S W 8 t 4a...................1921
Illin o is D iv 3
............... 194^
J o in t bonds See G t N o rth e rn
Ohio J o l l y & Stk Y d s 5s .1915
C oll tr u s t r e lu n d in g g 4 s l 9 4 0
Ch M il * S t P D u b D 6s .. 1920
Ch M & St P W l8 V d iv 681920
C h ic <fc N o M ien 1st g u 5 s .1 9 3 i
C h ic * W M ioh g e n 5 s . ...1 9 2 1
C o n cord & M o n t o on s 4 s ..1 9 2 0
C on n & P a ss K 1st g 4 s . ..1 9 4 3
C u rr e n t R iv e r 1st 5 s ......... 1927
De* G r R a p * W 1st 4 s . .. 1946
D om in ion Coal 1st 8 1 6 8 ..1 9 4 0
F itc h b u r g 5s .........................190;4 s .......................................... 1915
4 s .......................................... 1927
Freni t E lk & M o V 1 st 6s .. 1933
U n stam ped 1st 6 s ............1933
G t N or C B & Q c o ll tr 4s 1921
R e g is te r e d 4 s.....................1921
jS o t k — Bu y er

27$

Boston Bond Becorcl.

A u g . 3 19 0 7 .]

J -J
J -J
J -J

R ia
93
83%

M -S

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

96°8
85

W eek’ s
R an ge or
Last Hale

A i“ Low
983s 98%
84 • 82
IT-2
104
97% 1193
TJS7-’ 853s

105

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

Nl-S
J -J
J -J
J -J
J -J
M -N
J -D

J -l)
A-O
A-O
A-O
M -N
M -N
M -S

M-S
A-O
A-O
J -J
y -J

H ig h
98'S.
34
J ’ n e’ 07
M ar’ (!6
J ’ l y ’ 07
M ay’ 07
J ’n e ’07

l io r s D >
B O ST O N S T O C K E X C H ’ G E
W e e k E n d i - A u g u st 2

I llin o is Steel d eh en 5 s___ 1910
N o n -c o n v e rt deben 5 s ...1 9 1 3
l a F a l l s * s i o u x C i s t 7 s .. 1917
K an C C lin & S p r 1st 5 s ...1 9 2 5
9 6 a4 1101% K an C Ft S & G u ll 1st 7 s . . 1908
K an C F t S c o tt * M 6s ___ 1928
H87% 92
S o 3^ 9134 Kan C M * B ge n 4 s ...........1 9 3 4
A s s e n te d in c o m e 5 s ........1934
K an C * M R y * B r 1st 5 s l9 2 9
M ain e C en t c o n s 1st 7 s ...1 9 1 2
C on s 1st 4 s ........................ 1912
M aro H o u g h & O n t 1s t 68.1925
L0534 107 % M e x ica n C en tral c o n s 4 s . .1911
l e t c o n s in c 38........... Jan 1939
2d c o n s m e 3 s ........... J an 1939
M id i T e l e p l s t o s .................1917
M in n e G en E le c c o n g 5s 1929
N e w E n g C ot Y arn 5 s ___ 1929
N e w E n g T e le p h 6 s ............1908
83
9.0
5 s .......................................... 1915
fis............................................191 ti
9 8% 100%
1100*8 1100% .New E n g la n d c o n s g 5 s ... 1945
B oston T e rm 1st 4 s ........1939
9 7 7e 99»,
N Y N H & H co n d eb 3 ^ 8195 6
Old C o lo n y gold 4 s ............. 1924
9 7 ‘4 "9 7
90% 91 % O reg R y * N av c o n g 4 s .. 1946
O reg Sli .Line 1st g 6s ........1922
100 102 % R e p u b V a lle y 1st s f 6 s. ..1 9 1 9
R u tlan d 1st co n g e n 4 % s .l9 4 1
94 Hi 95
R u tland -C anadian 1st 4s 194 9
Savannah E le c l s t c o n s o s . l 952
S eattle E le c 1st g 58..........1930
97 *2 100
r e r r e H a u te L ie o u o s ___ 1929
1 0 0 S 10^
T o rrin g to n 1 s t g 6 s ........... 1918
99
99
U n ion P a c R R & 1 gr g 4 s . 1947
1st lien c o n v 4 s .................1911
U n ited F r u it co n v gen o s .1 9 1 1
89
90
U 8 Steel C orp 10-60 y r 58.1 9 6 3
100 100
W est E n d S tre e t R y 4 s ___ 1915
98
98
G o ld 4*28..............................1914
G old d e b e n tu re 4 s ............1916
100 100
G old 4 s ................................. 1917
W e s te rn T e le p h & T e l 5 s . 1932
8 8 % 97% W isco n sin C en t 1st g e n 4 s l9 4 9
W is c o n s in V a lle y l s i 7 s ..1 9 0 9
9 o 78 « 6

101 J ’ l y ’ 07
95 F e o ’ r .
122 A j : r ’ 06
126 F eD ’ 05
i»7% J ’l y ’ 07
97 % 98*.
1 0 0 ‘s J iy 'ii
......... 100
99 M a r’ o /
112% J an ’ 03
104 N o v ’06
98
89 M a r ’ 07
100 J a n ’ uV
98 A p r ’07
103% A p i ’ 06
100 M ay’ 07
13434 N o v ’ uO
140 A p t ’ 05
9234 Sale
»2%
93 ■%
92 ......... 91% J ’ly ’ o 7

pays a co ru e d in te re st in aa u ition to th e p u rch a se p rice fo r all B oston Bonds.

W eek’ s
R ange or
L a st Hale

P rice
F r id a y
A u gu st 2

Lcrw H ig h
96% 9,>3fi
79
90%
1182 1183

110
F e b ’ 04
101 Sep ’ 06
114 M a r’ o 6
112% Jan ’ OR
11>5:,4 J ’l y ’ 07
102 Sep ’ oo
99^8 O ct ’ 06
100 J ’ ne’ Ol
123% N o v ’ O'j
i i ’ s J ’l y ’Of
S3
83
109 M ay’ 05
9 9 34 J ’n e ’ 07
1100% M ay’ 07
97 78 I’ n e’ 07
0 2 7*, J ’ ne'06
97% M ay’ t)7
90 % M ay’ 07

A -0
M -N

A -O

R an ge
Since
J a n u a ry J

98
100
115

J-D
M-N
M-S
M S

A-O

A-O
A-O
A-O
J -J
J ’ ly

Low H ig h )
98% v-8 %!
98 1003*1

Astc L ow
H igh
99
98% J ’l y ’ 07
99
98% J ’ l y ’07
122 >4 N o v ’ 06
98 M ay’ 07
........
101
100 % J ’ly ’ 07
........ 116
115%
94% D e c ’ On
92 M a r’ 07
99 M ay’ o7

J -J
A-O

A-O
A-O

Range
\
S ince
J a n u a r y 1)

98 " 9 8 % |
1 0 0 %]
% l o 0 %|
114 120
9 2 " " 92*
99 101

1 1 3 % N ov’06
1 0 1 % Sep ’ 0 6
118
M ay’04

80%

81% U S l’a J ’ l v ’ t/7
26 % 0 <jt ’ 06
1 7 34 A u g ’ 05

97

97%

J -J

F-A
A-O
A-O
A-O
J -J
A-O
,j-J

78%

..........
96 1 0 0 *

102 % A u g ’ 04
97 %
97 %
100 M a r’ 07
100% Jan ’ 07

99% 100
100% 100%,

93 J ’l y ’ 07
101% Sep ’ 06
1102% J ail ’ 05
112138 M ar’ 06
102 M ay’ 07
107 % N o v ’ 05
102 M a i’ 02
9 8 % M ay’06
101% J ’l y ’ 07
97 A p r ’ O?
99% N o v ’06
9938 J ’ly ’ 07
11150% A p r ’ 06
1 1 0 % 1 1 0 *-,
110% 112
1|9o34 J ’ly ’07
100 >2 J a n ’ 07
10134 A p r ’07
1023* J an '06
99 *12M ay’ 07
89
89 %
89 Sale
H94% S e p ’ 05
109% A u g ’ 05

F-A
J-D

F-A

J -J
J -J
J -J
J -J

98

.101%

FA
J J

.M-S
J -J

M -N

M-S
M-N
F -A
M -S
M -N

F-A

J -J
J -J
J-J

* N o p r ice F r id a y ; latest bid an d asked.

85*1

10634

101 % 105
97
97

lbo^iiioa
i o T i ’12%
94 H99%
10 0 % 100%
1 0 1 ", 102
9 9% 100%
89
99

1| F la t price.

PhUadelphia and Baltimore Stock Exchanges— Stock Record, Dally, Weekly, Y early
S h are

Sai ii. rn mi
J u ly 27

90%

90%

13%
29
13%

>13

*48% 4H34
‘ 3 6 a4 37
9%
b3g

*21

.........

'7% 8

•86
87
62 % 62 %
'e i S i i i i i ;
*40 Si 41
8S
•8»w
2a

22%

6 2 1Bio 63 >4
40
40
* 3 9 34 40%
5 7 ;% 6 •%
90 a4 91%
* ......... ...31

P r i c e s — INm P e r C e n t u m

A tonuav
J u ly 2U

*1 2 78
*48%
3 0 -j
1)38
*4% .
21
*7

'/ ite s a n t
J u ly HU

91
•12
13a

.

4 8 34
3 6 34
97i«

21
8

86 % 86%

48
36%
9%

48
3 6 34
9%

*4 %

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

•21

........

•7
•85
6 <i

62
02
1
10l 8
6 1 -i 62
61 •%
•40% 41
•40%
8 ‘i
87in
8 *\
22
21
2 0 34
52 ‘4 53% SliSid
*4 0
40-<4 • 3 9 - i
40
*3 9
40
67
57 % 57%
91%
91 *14
91
30

P »l 1

8
87
62
t*1 \
41
87ie
21
&-716
41
40
57 %
91«*
30
A sk

IA

I n a c t iv e S t o c U s
A lle g h e n y V a l p r e l ___ 50
A m e rica n C em en t........50
A m e r P ip e M lg ......... 100
B ell T e le p h o n e ............. 50
C am bria I r o n .................50
■44 H.
C en tral Coal & C ok e . 100
C on sol T r a c o f K J . .. 1 0 0
D iam on d Statp S t e e l.. 10
P r e f e r r e d .....................10
E a ston c o n E le c tr ic 0.6O
E le c s t o r a g e B a tt___ 100
P r e t e r r e u ...................100
F t W a y n e & W V ........100
G erm a n tow n P a ss ....... 50
In d ia n a p olis S t ........... 100
I n d ia n a U nion T r ___ 100
In s u r a n c e Co o f N A .. l <
I n t e r Sm P o w & C lie m .5 0
K e y s to n e T ele p h o n e ..5 0
P r e f e r r e d .....................60
K eyston e-W atch Case. 100
15
L it B r o th e r s ...................10
L ittle S c h u y lk ill............50
H i u e h i l l * S ch u y l H ..6 0
N H a v e n I r o n & S t e e l.5
N orth ern C e n tra l......... 50
N orth P e n n s y lv a n ia ..50
P e n n s y lv a n ia S a l t . . . ..5 0
P e n n s y lv a n ia S t e e l..1 0 0
P r e l e r r e d ...................100
P h ila C o (P itt s ) p r e f .. . 60
43%
P h il G erm an & N o r r is .50 150
P h ila T r a c t io n ...............50
94
R a ilw a y s G e n e r a l........10
S u sq u eli Iron & S t e e l..5
T id ew a ter S t e e l........... 10
P r e f e r r e d .....................i(.
T on opah M in in g o f N e v l
123,
U n io n T r o f l n d ..........lot,
U n ited N J R R «feC ..10<
U n it T r a c P itts p r e f..5 o
W a r w ic k I r o n & s t e e l . l o
8*4
W e s t J e r s e y & S e a S li.5 o
53
W estm orela n d C oa l....5 0
86
W ilk e s H a s * K le e .,1 0 0

S8*i
53

Vi %

20%

65

91

13%

133f,

*48% 48*4
X3 5 V 36
9 ^ 9%
*4 % ..........

6 0 a4 6 i 34

6 1 3*
41
830
2 0 'J
o2310
40 ,
40

•39
5 I 3s
9 0 a4 9 1
30

13%

13%

48% 4 8%
35% 3 5 a<
9%
9%
* 4 % .........

2t

21
21
•7
8
85% 86
61
•40%
85io
l y -8
51aic

A C T IV E S T O C K S

21

7%
7%
•84
HO
60 % 61
60a, 6 l "6
40
'.(J %
8Jia bsie
l a °8 20
60% ..51%
•40......40 %
•33%..40
C6 %..56%

90%.9034

......... .. 30

P H I L A D E I . P H IA

l ia i t i in o r e
Con. G as E l. h . & P o w . 100
*80
D o p r e i.....................100
81
*Bl
91% N o rth e rn C e n tr a l.......... 50
s e a b o a r d ( n e w ) ............... 100
* 12% 13
30
D o 2d p r e f..............100
*26
>13
13*4 U nited R y & E le c t r ic .. 50
*48%
3534
9%
•4
•19
*7
85
60 7a
IB16
10^
8“ l 0
20
51%
•40
*39
57
9 0 34

*26

44
"94%

46

8%

87

R id

A sk

E x -rig h ts.

||.^7.50 paid.

R id

P H IL A D E L P H IA

96-H

1;

'4 2 o

3,123

’ 64’^

16

7o

P h ila d e lp h ia
4'
A m e rica n R a ilw a y s ___ 50
b o 34 C am bria S t e e l ................. 50 1,532
641
9% E le c t r ic Co of A m e r ic a l o
6 G en A sp h a lt tr c t i s ___ 100
610
21
D o p re l tr c t f s ___ lO o
io n
8
Lake S u p e rio r C o r p ___ 100
177
86 %' D eiugli C & N a v tr ctis . 6o;
61 4* L e ln gh V a lle y ................. 50 2,35i
is 18 M arsden C o ...................... l o o
3 vo
61*4 t'e n n s y lv a n ia R R .......... 60 4 ,o . a
4 0 S P liila d e lp ’ a C o (P it t s b ) . 5v
01
8 "b P h iladelph ia E le c t r ic } . 2n 2,43,'
20% P h ila R a p id T r a n s it s . . 5o 12,1) ip
51°b H e a d in g ........................... 5t 00,789
*i0 34
4J
D o 1st p r e l............. 50
40
2
D o 2d pi e l ............... 50
67% U n ion T r a c t o n ............... 50
396
91% U nited G as lrn p t............ 50
30
W e lsb a ch C o ...................l o o

r fo n d s
108%
A1 V a l K e x t 7s 1910 A -0
A l t & L V E l e c 1 %s’ 3 3 .F -A
A m t t y s c o n v 5a 191 1.J -D
97%
107
A tl C ity 1st 58 g ’ 1 9 .M -N
B alls T e r 1st 5s 1 92 6. J-D
106"
B e r g & E B r w 1st 6 s’21 J-J
B e th le Steel 6s 1 9 9 8 .Q -F
C h oc < fc M e l s t 5 8 l9 4 9 J - i
Ch Ok <fe G g e n 5s ’ 19 J-J
Col St R y 1st c o n 5s 1 9 3 i
Con T r a c of N J 1st 5 s . ’ 33
E & A 1st M 5s 192 0 M-I\
96
94
E le c & P e o T r stk tr ctftE q II G as-L 1st g 5s 192>H & B T o p c o n 5s ’ 25 A-t > 106
In dia n a p o lis R y 48.1933
65
In te r s ta te 4s 1943 . .F - A
L e h ig h N a v 4 % s ’ 14.Q-J
R R s 4s g ........1914.<4-1
G en M 4% s g ,1 9 2 4 .Q - l
Leh V C 1st 5s g ’3 3 . . J-J 10 8 ' 1083,
Leh V e s t 4s 1st 194 8. J-D
2d 7s 1 9 1 0 .................-\1-S
C on sol 6s 1 9 2 3 ........J-I>
149
A n n u ity 6 s ...............J-D
G en c o n s 4a 2 0 0 3 .M -N
Leh V T ran oon 4 s ’3 jJ - l)
N e w Con G as 5s 1948 J-D
N e w a rk P a ss co n 5s 1930
N Y P h & N o 1st 4s ’39 J-J
In c o m e 4s 1 9 3 9 ...M -M
N o O liio T ra c c o n o s ’ iy.J J
P en n 14en 6s r 1 9 1 0 .. V a r
C on sol 58 r 1 9 1 9 ... Var
Pen n <fc M d Steel co n 6s.
Pa <fc N Y Can 5a ’3 9 .A O
C on 4s 193 9 ............. A -u
PeD n s t e e l 1st 5 s ’ 17 M -N
97
P e o p le ’ s T r t r c e r t s 4 s ’ 43
104
P C o lstife col tr 6 s ’49 M-S
96%
C on & coi tr 5s 1951M -N
Ph il h.lec g old tru s t c tfs .
H9 *-. lu o
T r u s t c e r tifs 4 s ...............
68% 69%
P
E g e p M 5 g ’2 0 . A-O
G en M 4s e 1 9 2 0 .. A<feO i o i % 102 4

R a n ge to r Year
li)U 7

Sales
ot the
Weeu
S hare*

( F o r R o n d s a n d In a c tiv e
S tocks see below )

tn a a v
A u gu st 2

'I MirsilOv
A u gust 1

9 ’.

r B id and asked p rice s ; n o s a l e s on this d a y .




P r ic e n

tf«i i.nesuay
J u ly 31

Ph <fc R ea d 2d 5s ’ 3 3 . A -O
Con M 7s 1 9 1 1 ........J-D
Con M 6s g 1 9 1 1 ....J -D
E x Im p M 4s g ’4 7 .A-O
T e rm in a l 5s g 1 9 4 1 .Q -F
P W & B co i tr 4 s ’ 21.J-.f
P o rtla n d R y 1st 5s h>30.
Rocli R y & L.COU 5 s ’ 51 J-J
U T r a c ln d ge n 5 s ’ 19.J-J
Un H ys T r c t fs 4s’ 49J *.J
U n tie d R y s I n v l s t c o l l t r
s f .,s 1 9 2 6 ................. M -N
U T r a c P it gen 5s ’ 97 J J
W e lsb a ch s 1 5 s 1 9 3 0 .J -D
W lk s-B G&E c o n o s ’55J -J

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

h ig h e s t

48 J ’ly 30
32 <4 M a r l !
b 7e M ar^l
4 M aylM
19 May21

3034

51 Jan 2 5 0 34 Sep 54 J a n .
47% Jau 24
Jan 39 % N ov 1
11 % J an 14 11 M aj 12% N o v i
6 N ov 14 J an !
3 J an 25
-Dec 48 J a u |
36 J a n 25
634 May^O 16 J a n 3 14 % Nov- 23->4 J a n I
78 ->iari4 103 Jau 7 100 D ec U 8 J a u 1
57 M ar 4 7 o % Ja n 5 65 May 86 J ’ n e
Iaie J ’iy 26
2 % J an 7 i 7i„ O ct 3 1Rie J a n 1
58 -i Mar2o 7O‘ i 10Jan 8 6 i % J Jy JS'iie J a n i
39 % J ’ n e l l 4 8 * »J a n 4 47 A p r a54 v M ar
it A p r 4
6 % D ec 9 3ib o c t I
7 s< M a r i 4
15% M ar27 §26% M ay 6 c l 9 % D ec i 3 1 x4 J a n
4 6 34 M ar2o 69 \ Jan 7 56 Ma> 83 J a n {
40 Aia] 24 45'% Jan 14 43% A pr 4710i 6 J a n j
39 J ’ ne 6 47 Jan 14 4 4 % .'tiaj 51 J a n 1
53 M ar 14; OOSg Jan ^2 5 3 % Dec 65 A u g !
80% M a r l4 96*8Jan 5 118 1 % May 101 F e b i
25 M ay24 30
K e b 18 25 D ec 32 M ari

2d p r e f ........................ 100
G -B -S B r e w in g ............100

A sk
.............

81
75

■*70" '7 1 %

BoudH
A n a c o a t ia * P o t 5 s ...........
A tl * Ch l s t 7 . . .1 9 0 7 J-J
Atlau C L R R 4 s l9 5 2 M -S
A tl Coast L (C t )c t fs 5 a J-D
C tfs o f in d e b t 4 s ___ J-J
5-20 y r 4s 1 9 2 5 ..........J-J
Balt C P a ss 18t 5s ’ 11 M-N
B a lt Fu ntlg o s .1 9 1 6 M -N
E x ch a n g e 3 %s 1930 J-J
B a i t * P 1 s t 6s m i ’ l l A -O
B alt T r a c 1 s t 5 s . . ’ 2 9 M -N
N o B a lt D iv 5 s 1942 J -D
C e n t’ l R y con ,')sl9 3 2 M-N
Ex t * Im p 58.1932 M S
Chas C ity R y 1 st 5s ’ 23 J-J

? $15 paid.

J iilO paid,

80
96 %
260

90
l0»4

20

92

70
5

100

95
6
100%
_______

93 %
102
SO
80
102

108
90

94

82
32
102*-.
108 'i
9 6-.

107 % 108%
110% 114
108
110
107
lo 1
104

i $35 p a n t

31

*-4

*98%

140
95
‘2 40
»7

H igh est

35 % D ec 41 J’n©
80 Oct 90 J’u©
97 J ’ ly 111% D e o
22 D ec 32 J a u
4 8 Dec 62% J a n
13 D ec 19 J a n

14

BALTLUORE
In a ctiv e S to c k s
A la C on s C oai& l i on. 100
P r e i ..............................100
A t l a n t a * C h a r lo t t e ..lo o
A tia n C oast L in e R R .lO o
A tla n C oast L (C o n n )lO o
C anton C o .................... 100
C on s Cot D u ck C o r p ...5 v
P r e f e r r e d .................... 50
G e o rg ia S o u * F l a ...1 0 0

Lowerft

33 % J an 15 35 J a u 9
80 May 29 85 Jan 10
86 M ar
97 Jan 26
13 J ’ly ti 2 3 l* J a n 7
28 J ’ne27 48 Jan 7
10 % M a r l2 15 J ’ ne27

10034 . . . . .
----------- ----------...... ......
.....

74

R ange to r P r e v io u s
Y e a r (1 9 U 6 )

B A I i i 'l . U O i t E

R ia

A sk

90
Chaa R y G & E l 5 s ’ 99 M -S
95
Cliarl C * A e x t 6 s .’ 09 J-J l o o % . . . »
107%
2d 7 s .................1910 A-O
C ity & S ub 1st 5 s . . ’22 J -D 106% 108
C i t y * S u b (W a s ) la t 5 s ’ 4 » 102 *9 103
C oal * 1 K y 1st 5 8 ’ 20 F -A 100
101.
110
C o l & G r n v l s t 6 s .l 9 1 6 J -J
108
C on sol G as 6 s . .. 1910 J-D 102 \ 103
lo 7 % 108
5 s ........................ 1939 J-D
Ga & A la 1st con 5a ’ 45J -J 102% 103
G a C a r & N l s t 5 s g ’ 29J-J 103
103 % j
G e o rg ia P 1st O s ...’ 22 J-J 112
114 %
UaSo * F la 1st 5s 1945J-J 105 *v luO
53
G -B -S B re w 3-4s 1951M -S
53%
2 2 3, 23
2d in co m e 5s 1951 M -N
K n ox v T r a c 1 st 5s ’ 2 8 A -0 l o o
101
L a k e R E l 1st g u 5 s ’42M -S 110%
M e m p h is S t 1st 5 s ’ 45 J-J
|
-UetSH W 'a sh )lst5 s’ 2 5 F A 103
109
793fe 79
.Mt V e r C ot D u ck 1st 6s.
M p t N * 0 P 1st 5s’ 38 M-iS _____
.......
G e n e ra l 08___ 1941 M -S
N o rfo lk St 1st 5 s ’ 4 4 . .J-J 1 0»
108
I
N orth C en t 4 %s 1925 A -O 105
1
s e r ie s A 5s 1 9 2 6 ___ J-J n o
110
S eries B 5s 1 9 2 6 ___ J-J
Pitt U n T r a c 5s 1 9 9 7 .J-J 105
lo 7
P o to Val 1st 5s 1 9 4 1 ..J-J 106
Sav F l a & W e s t o a ’ 34 A-O 107
Seaboard A L 4s 1950 A -O
t)9:,4 ‘ a
s e a b * R oan 5a 1 92 6. J-J IO j
1 H
S ou th B ou nd 1st 5 s ..A -O 105
^ 8%
U El L * P ls t 4 % a ’ 29 M -N
■)
87%
Un R y & 1011st 4s ’ 49 M -S
63 •>
In c o m e 4s 1 9 4 9 ........J-D
1
0
79-',
.
F u n d in g .'a 1 9 3 6 ...J -D
V irg in ia M id la n d —
2d series Gs 1 9 1 1 .. . M -S 106
. I'O ‘j
3d series 6s 1 9 1 6 ..M -S 108
4th ser 3-4-5s 1 9 2 1 .M-S 105
5th series 5a 1 9 2 6 .M -S 10 u
30
Va (State) 3s new ’ 3 2 .J-J
!
I
8.'
F u nd d ebt 2-3s 1 9 9 1 .J-J
1
W est N C con 6s 1914 J-J 107
10. , i
W e s V a c & P 1st 6 g ’ l l J-J
SVil & W eld 5 s-.1 9 3 5 .J -J 109
0%

a R e ce ip ts.

6 $25 paid.

c $ 8 0 paid.

THE CHRONICLE.

274

T e l e p r tfc T e l e p h o n e
HAmerT^elegcfc C a ble 100
ijC entral & So A m e r . 100
C om m er U n T e l N Y ).2 5
Em p & B a y S tate T e l 100
F r a n k lin ........................ 100
11G o ld & S t o c k ........... 100
H udson R iv e r T e le p h 100
UN Y & N J T e le p h .,.1 0 0
IlN o rth w e ste rn T e le g . 50
P a cific & A t la n t ic ........25
H Soutliern & A t la n t ic 25

[V o l .

lxxxv

.

I n d u s t r ia l a n d 3 l i s c e l
B id
ASM
3
C ons R y LtstcfcR efng.lOO
4
C on sol R u b b e r T i r e .. 100
5
3»4
20
P r e f e r r e d ...................100
25
T R A N S A C T IO N S A T T H B N E W Y O R K STOC K E X C H A N G E
N'
D e b e n tu r e 4s 1953 A<&0
25
27
D A IL Y . W E E K L Y A N D Y E A R LY '
55
Cons S te a m slip L in e s. 100
3<u
3^4
2 8 ^ 283«
C oll tr 4s I d o l ___ j< fcj
Stocks
Week, en d in g
65
C on s S to ra g e B a tt e r y i 00
8
11
V S
State
R a ilro a d &c
A u gu st 2
B on d s
C orn P ro d K ef See Stock E x c h list
B onds
112
B on d s
P a r va lu e
l'J07
Sh ares
H C rucible S te e l............100
8
115
8*4
U P r e fe r r e d .................100
68 >2 69
78
* 4 7 ,0 0 0
$36 0,00 0
211,786 $19 ,8 2 3 ,6 0 0
100
IJDiamond M a tch C o. 100 127
S a t u r d a y .............
$5,000
1 19,000
722 .500
40,884,000
5 34
459 ,490
D om in ion C o p p e r(n e w )1 0
M o n d a y ...............
F e r r y C o m p a n ie s
66,000
857.500
8
37,36 -.600
417,641
D ou gla s C o p p e r ............. 5
T u e s d a y ...............
2
1 85.700
944 ,100
56 .420,250
30
35
623,402
B ro o k ly n F e r r y stocklO O
4
E le c tr ic B o a t............... 100
W e d n e s d a y _____
48.500
671 .500
46 ,734,850
81
87
626 ,136
P r e f e r r e d ...................100
B & N Y 1 st 6s 1 9 1 1 .J-J 2 98
T h u r s d a y .............
92.500
558 .500
2
60
26 ,144,600
8
N Y & E R F e r r y s t k . 100
E le c t r ic V e h ic le ..........100
293,971
^ F rid a y ..................
4
12
70
75
P r e f e r r e d ...................100
1st 5s 1 9 2 2 ............. M -N
9
$5,000 N Y & H o b co n 5s ’ 46. J-D 2 98
$55 8,70 0
12
103
$ 4,114,100
E m pire S te e l............... 100
jf T o t a l .................. 2,532,426 $22 7 ,3 6 9 ,9 0 0
60
65
105
H o b F y 1 s t 5s 1940 M -N 4104
P r e f e r r e d ...................100
J a n u a ry 1 to A u g u st 2
57
63
W eek en d in g A u g u st 2
X Y & N J 2d 5s 1 9 4 6 . J-J 2100
HF e d e ra l S u g ar o f N Y ’lOO
f.
S a les at
80
85
30
40
10th & 23d Sts F e r r y 100
U P r e fe r r e d ................ 100
f Ifeu) Y o rk Stock
70
63
85
1st in o rt 5s 1 9 1 9 ...J - D 2 70
IlG eneral C h em ical ..1 0 0
1906
JSxchange
1907
1906
1907
20
96
99
28
IJUnion F e rry s to ck .1 0 0
U P re fe rre d .................100
2 <4
85
88
G
old
H
ill
C
o
p
p
e
r
..........
1
1.11st
5s
1920
............M
-N
t
2«s
168.332,077
130,526.029
5,629,323
2,532.426
Stocks—N 0. shares
15U
G reen e C a n a n e a ........... 20 t 15
Par vaiue........ $ 2 2 7,36 9,9 00 $ 51 1,31 1,6 50 $11,127,830,035 $14,934;,715,700
S h o r t T e r m N o te s
Q
reejie_O
on
C
o
n
n
e
r
...1
0
$213,600
$
3
3
8,30
0
$ 1,200
$ 20 ,3 0 0
Bank shares, par..
" • ’ JG’ refcn<r’C on3ol C foM .;. HI
91
A in C i " s e r A 4s ’ lL M -_8 2 89
BONDS
88
90
S er B 4s McTTTo ’ 12.M-S
G re e n e G o ld -S ilv e r __ 10
I 7.
$ 1,277,000 A m T e l & T e l g 5 s ’ 10 J -J ?4 97*, 97% G u g g e n h e im E x p lo ’ n. 100 212
$47 9 ,8 0 0
$7,000
$5,000
•overnmentbonds
220
3 0,144,800
50,326,550 A tla n C oast L os ’ 10. M-8
7 70,400
5 58 ,700
State bonds...........
2 9 7 ^ 97->4 H a c k e n s a c k W ater Co
3
8
3
,762
,80
0
2 3 2 ,177 ,40 0
4 ,1 1 4 .1 0 0
8,556,500
HR- and mis. bonds
93
R e f g 4s 52 o p 1 2 ...J - J i 88
Buff R o c h & P g 4 *2S’ 0 9 F -A 4 96*v 98
60
H all S ig n a l C o ........... 100
70
98
C e n tC r o s s ’n g u 5 s '0 9 M -N 4 96
$43 5,36 6,3 50 C hes & O hio 6s J ’ e 28 ’ Os 4 99«8 9 9 5« H avan a T o b a c c o C o ..1 0 0
$ 2 6 2,80 2,0 00
* 9,3 3 3 ,9 0 0
$ 4 ,677,800
t Total bonds___
12
12
16
P r e fe r r e d ................... 100
18
6s, J u ly 1. 1 9 1 0 ___ ____ 4 9t»*p 997*
1st g 5s J u n e 1 ’ 2 2 . J-D
65
D A I L Y T R A N S A C T IO N S A T T H E BO STON A N D P H I L A D E L P H IA
C liic * A l t 5s 1 9 1 2 ..- J - J 4 96*2 98*2
Cli R I & P a c 4 *2S’ 0S A-O > 98 S 99*4 H eck er-J ones-J e w ’l M ill
l
EXCHANGES
1st 6s 1 9 2 2 ............... M -S 102
C h ic <fc W Ind 5s ’ 10 Fife A 2 99
106
99*2
40
72
H e r ’ g -H a ll-M a r .n e w .1 0 0
45
78
C iu H a m & I M ^ s ’O S.M -S
P h ila d e lp h ia
B o sto n
! W eek e n d in g
U C C & S t L 5s, J u n e ’ 11 2 9 7 Ji 9 8 ’< H o b o k e n Landife IinplOO 200
i A u gu st 2
1158 1 9 1 0 ...................M -N 2100
E r ie 6s, A p r 8 1908 ......... 4 9 4 vs 95*4
B
o
n
d
B
o
n
d
U
nlisted
U
nlisted
M
s
te
d
L
isted
!
xvul
6*5
7
In te r li R T g 4s 1908 M-N 4 97 *2 97 V H o u sto n O i l .................100
sa les
sh ares
sa les
sh ares
sh a res
sh are1
40
5s M ch 1 9 1 0 ............. M-S 4 96*4 96=8
P r e f e r r e d ............... ..1 0 0 1 35
120
135
$ 4 ,000 K a n C So g 5 s A p r ’ 12 J - J 4 94*4 95 *, H u d son R e a lty ........... 100
3,863
$ 11,000
5,153
3,959
2,382
Saturday
48
2 6,900 L a c k S t e e lg 5 s 19 0 9 . . M-S 4 90*-? 9d*i U ln g e rso ll-R a n d c o m . 100
5,902
29.000
18,462
9 ,573
^Monday........ 14,859
87
os g 1 9 1 0 .................... M-S 2 94
95
U P r e fe r r e d ...................lOt
30.000
64.0 ;o
13,444
6,999
5,114
Tuesday........ 10,421
135
L a k e Sh & M So 5s’ 10 F-A 4 98-V 98?* I n tern a t’lB a n k m g C olO O 125
15,500
8,921
12.000
18,049
10,264
21,205
Wednesday. .
E x ch
25.000 L o u & N a sh g 5s ’ iO.M -S 4 9834 99 V H [n t ’ n ’ l M er M ar See Stk 100 list
. 10,000
19,336
5,^18
13,129
Thursday....... 16 ,"4 5
115
9 8 ^ 9 8 ^ In tern a t’l N ic k e l ___ 100
26.000 M ich C ent 58 1910 . . . F-A 4 97
2,933
19,500
10,493
8,477
y rid a y .......... 11,655
83
87
98
Minn<fc St L g 5s ’ 1 1 .. F-A 4
P r e f e r r e d ...................100
15
17
P a c 5s F e b 1 0 ’ 08. F-A 4 99 *4 99=8 In tern a tion a l S a lt___ 100
*1 2 7 ,4 0 0 -Mo
$14 5 ,5 0 0
33,836
49,239
84,936
Total......... 78,144
58
65
N a t o f M e x 5 s ’ o 7 .0 p l A - 0 4 99'^ 100*8
1st g 5s, 1 95 1......... A -O
8
6
N Y C en t 5s 1 9 1 0 .... F -A 4 98-\ 9 8 V In te r n a tio n a l S ilv e r . 100
62
65
’ e n n C o g u 4 1-.s 1907M-N 4 99 V 100 V
P r e f e r r e d ...................100
'a JttR 5s M ar io ’ 10.M-8 t 98*4 98*2
108 'a
1st 08 1 9 4 8 .................J-D l o 7
A
52
54
96*8 96*2 L a ck a w a n n a S t e e l . . . l o o
>t L M S o ’e a s t4 ^ s ’Ott J -D
W e ek ly R eview o t O utside M a rk et w il l be fo u n d on a p r e c e d in g pane.
S tL ifc S F g i n ’ 0 8 . .. J-D ] 4 96 ** 96V, Ijanston M o n o ty p e ....... 20 t 13
u
195
S o u th ’n c o ll t r os ’OO.A-Oi 2 97*8 98 Si L a w ye rs M o r t C o........100 188
S tr e e t R a ilw a y s
S tr e e t R a ilw a y s
A s k S ou th R y g 5s 1 9 1 0 .. F-A 4 94
B id
A sk
B id
52
70
94*2 1)Leh & W ilk e s b C o a l.50
P u b S e r v C orp N J (C o n )
135
*
JfK W Y O R K C ITY
T id e w a te r Con C o 6 s l9 0 9 ? 99
T a y lo r .............100 130
99*2 L ord
35
26
30
J C H o b & P a te rs o n 100
j l & e c k sttfc F u l Jb' stk 100
U S R u b b e r g 5 s ’ 0 8 ..M .S 4 99 V 99 *2
P r e f e r r e d ...................l o o
it.O
82
4s g 1 9 4 9 ............. M -N i (37
’ 68“
86
: ^ 1st m o r t 4s 1950 ..J -J
W abash 5s. M ay 10 1909 4 9 4 ^ 95*2 I fL o n lla rd (P ) p re f . ..1 0 0 i'2 5 ” 135
115
S o J G as E l & T r a c 100 112
22 0
W e s tm g h El<Sc M 68.1910 2
^ B ’ y >fc 7 th A v e s tk ..1 0 0 ‘ 210
99 V M ack ty C om pa n ies See S tk E x list
98
104
G u g 5s 1 9 5 3 ........M-S 2 96
15
W h e e l’ g ifc L E 5s ’ 08 -F -A 2 96 *2 97
I 112dm ort 5s 1914 ...J -J 100
M adison So G a r d e n ..1 0 0
22 Si
75
N o H u d C o R y 6 s’ 14J-J 2100
C o n 6s 194 3 See s t o c k E x cli list
80
2d (is 1 9 1 9 ............... M-N
R a il r o a d
......
3
105
5s 1 9 2 8 .................... J-J 2102
,B’ w a y S u r f 1st 5s gu 1924 100
6
liM auh att B e a ch C o .100
103
E x t 5s 1 9 2 4 ........M -N 2100
27U
C h ic P e o & S t L p r e f.1 0 0
4 3*
flC e n i’ l C ros st’ n s t k .. 100 230
ih i
M anhattan T r a n s it ___ 20
13
P a t C ity c o n 6s ’ 3 1 . J-D 2110
D e p o s ite d sto cK .............
115
17
H ist M 6s 1922 ...M -N 108
M e x N a t C o n stru c.p flO O
165
2d 6s ___ 1914 o p t A-O 2100
3
IlC en P k N <& E R s t k . 100 150
U n d e p o site d s t o c k ........
2 3*
M itch e ll M in in g ............10
7
90
So Side E l (C liic)
s e e C liicago list
P r io r lie n g 4 W S O M & S
150
m Chr’ t’ r & 10th S t stk 100 130
M o n o n g a h e ia R C o a l..5 0
05
S y ra cu s e R a p T r 5s 1946 2100 103
Con m tg g 5s 1 9 3 0 .J& J
28
P r e f e r r e d .....................50 f 27
Gol& 9th A v e os See S to ck E x cll List
90
'T rent P & H 5s 1943J-D 2 .......... 102
3
95
I n c o m e 5s 1 9 3 0...............
D ry D E B & S—
M o r tg a g e B o n d C o . . . 100
97
102
U n ite d R y s o f S tL C h ic S u b w a y .................100
102
H ist gold 5s 1 9 3 2 ...J -D 100
25*4 •Zt<*4 N at B a n k o f C u b a ___ 100
29
28
\
155
91
97
170
C om v o t tr c t f s ........100
B’t W cte D en C y std-.lO O
95
N a tio n a l S u r e t y ......... 100
IJScrip 5s 1914 . . . . F - A
105
67
67*4 G rea t N o r then O re See Stk E r list N e va d a C o n s ’d C o p p e r .5 t 14
HP r e fe r r e d .................100
14
'E ig h th A v e n u e s t k .. 100 300 350
4-'<4
G e n 4s 1 9 3 4 ___ See Stk E x c h list
105
N Y N 11 <fc H a rtford —
98
N e v -U ta h M in & s i n .I d
5
IjS crip 6s 1 9 1 4 ___ F-A
SO
60
C o n d e b 3 12Sl96t>. J & i i 97
39U; U n it R y s S a n F r a n <SeeStk E x cli list
1142(1 & O r St F ’ y s t k .. 100 340
1]New C en tral C o a l ___ 20
60
36 *v 38*2 N o r t u ’n s e c u r it ie s Stu bs 100
W a sh R y & E l C o . . ..1 0 0
65
N J T e r Dock<ifc I m p . 100
42d St M & St N A v .,1 0 0
77 *2 78*2 P itts B e ss Ac L E ..........50 t 29
111st m ore Os 1910 .M -S 3 1 0 0 1* 102 i . P r e f e r r e d ...................100
N Y B is c u it 6s 1 9 1 1 .M -S 102 >2
80*2 81*2
P r e f e r r e d ....................50
63
73,
4s 1 9 5 1 ...................... J -D
1|2d in c o m e 6s 1915 J-J
N Y M tge«fc S e c u r it y . 100 185
195
31
31
21
UR a ilro a d S e c u r itie s C o.,I n t e r -M e t —See S to c k E x clia’ g e list HW e s t C h ica g o S t ___ 100
IjN e w Y o r k D o c k ___ 100
25
70
80
VO1® 78
1|Con g 5s 1 9 3 6 ___ M-N
80
Ill.QigUc.tr._cf s.ser. A ’ 62
90
fL e i A v <fc P a v F o s s e e St k E x c libt
U P r e fe r r e d ............... 100
3
S e a b o a rd C o m p a fi/—
(M etrop ol S tr e e t R y . 100
4
M
N
Y
T
r
a
n
s
p
o
r
t
a
t
io
n
...20
G a s S e c u r i t ie s
55
95
JNintli A v e n u e s t o c k . 100 140** Lfcu
1st p r e fe r r e d ........... 1()0
80
105
N ile s -B e m -P o n d co m . 100
NEW YORK
8s,
C om & 2d p re f.S e e Balt E x c a list
S e c o n d A v e n u e stocklO O 15 0 170
N ip is s in g M i n e s ........
5
84
98
S e a b o a r d A ir L in e —
11)2
i H is t rnort os 1909 M -N 3100
C en t U n G as 5s g ’27.JtfcJ 2 93
4
IIO n tario S i l v e r ..........100
o 3 ®8 40
35
108
C on G as (N Y ) ........ See St k E x c li lis t
C oll 5s e x t M ay ’ 11 .M -S i 94
C on s ol 5s 1 9 4 8 ___ F-A §104
O tis E le v a to r c o m ___ 100
175
170
87
J S ix t h A v e n u e sto c k 100 140
92
H M utuai G a s ............... 100 « 1 6 0
P r e f e r r e d ...................100
I n d u s t r ia l a n d M is c c l
104
28*9
S ou B o itlev o s 1 9 4 5 ..J-J 2 98
N e w A m sterd am G as—
P itts b u r g B r e w in g ___ 50 t 28
93
A h m e e k M in in g .......... 25
70
S o F e r 1st o s 1 9 1 9 ...A -O $100 103
1st co n s o l 5s 1 9 4 8 ..J -J 2 90
P r e f e r r e d .....................50 t 49 S 50
80
105
A llia n c e R e a lt y ..........100 110
T h lr u A v e n u e See Stock E x ch list
N Y<fc E R G a s 1st 5s’ 44J-J « 1 0 0
120
P itts b u r g C oal See S tock E x c h list
L
101
100
3
T a rr y W P & M 5s 1928 2 95
A ll is C h alm ers Co 1st m
C on sol 5s 1 9 4 5 ..........J-J 2 97
P o p e M a n u fa c tu r in g . 100
33
36
45
100
50
' Y k e r s S tR R 5s 194G A -0 1 95
s f 5s ’ 36 o p t ’ 1 6 .. J - J i 70
N Y & R ic h m o n d Gas. 100
1st p r e f e r r e d ............100
72
9
98
103
12
A m e r ic a n B o o k ..........100 160
2 8 th <Js 29th S ts 1st 5s ’ 96 2 100
N o r U n 1st 5s 1 9 2 7 .M -N 2 90
2d p r e f e r r e d ........... 100
170
......... A m e r ic a n B r a s s ......... io n
95
80
100
118
J T w e n ty -T li’ d St s tk 100 300 360
H Standard G as co m ..1 0 0
P ratt dc W h itn p r e f .. 100
122
150
IjA m eriean Can See S toc li E x list
106
1i P r e f e r r e d ............... 100 100
t ln io n R y 1st o s 1942 F -A 2100
R e a lty A s s o c (B k lyn )lO O 140
106
A m e rica n C h icle C o ..1 0 0 185
105
103
W e s tch e s t 1 st 5 s ’ 43 J-J 2 97
1st 5s 1 9 3 0 ............. M-N 2103
R oy al Bak P o w d p r e f.1 0 0 103
190
P r e f e r r e d ...................100
92
140
OTHKK CITI Kb
BK O OK LYN
S a fe ty Car H e a t & L tlO O 135
98
96
98
75
48
85
A tla ii A v e 5s 1 9 0 9 .. A O 2 9 9
A m G ra p h o p h o c o m ..1 0 0
S e n e ca M in in g ........... 25
A m e r L ig h t & T r a c t . 100
52
89
87
P r e f e r r e d .................10U
80
465
S in g e r M tg C o ............. 100
P r e f e r r e d ...................100
Con 5s g 1 9 3 1 ..........A-O $102
85
95
" 3 ';
S tand ard C o r d a g e ___ 100
B B & W E 5s 1 9 3 3 ..A -O
B a y S tate G a s ............... 50
Bie A m e r H a r d w a r e ......... 1Oo 120
130
334
3a
100
A m M a i u n g 6 s 1 9 1 4 .J -D 100
1 st M .g .S s .’ a i r e d .. A .0
B r o o k ly n C ity s t o c k ... 10 197
39*4
B in g h a m to n G as 5s 1938 2 95
101
6\,
95
C on 5s See S tock E x ch list
A m er P re s s A s s o c ’ n .1 0 0
A d j us t.M .58. A p r 1,1931
B r o o k ly n U n io n G as deb
6*4
100
98
125
45
100
1
A in Soda F o u n c o m ..1 0 0
55
S k i n C rosstn 5s 1 9 0 8 .J-J
Standard C ou p ler com 100
6s 1909 c o n v ’ 0 7 . ..M -S 115
6
90
7*2
1st p r e fe rr e d ............. 100
P r e f e r r e d ...................100 115
B k n H g ta 1st 5s 1941 A-O
B u ffalo C ity Gas stocklO O
125
20
'0
2d p r e fe rr e d ............. 100
Standard M illin g C o .100
B k ln y C o & Su b See Stk E x ch list
1st 5s 1947 See S to c k E x c h list
8
5
92
28
A m St F o u n d 6s ’ 35 AifcO i 9o
P r e fe r r e d ...................100
B k ly n R ap T ra n See Stk E x ch list
30
C on G as o f N J 5 s ’ 36 J-J 2 89
92
150
76
A m e rica n s u r e t y ..........50 182 *2 190
D C oney Is. * B k lyn ..1 0 0 100
1st 5s 1930 ............. M -N
79
C o n su m e rs’ L H & P o w —
85
A m e rica n Th read pref..& 1 4
S tandard Oil o f N J ..1 0 0 499 500
1 s t c o n s g 48 1 9 4 8 ..J-J
5s 193 8............... . . . . . J - D 2102
5
A m T o b a c (n e w ) com loO 290
S w ift & Co See B o sto n St c E x c h’g e
B r k 0 <fe N 5s 1 9 3 9 .J-J 1 0 *
E liz a b e th G as L t C o .. 100 275
300
L20
38
A in T y p ^ fo ’ rs c o m ... 100
1014
f tr ’ pt * L orim er St 1st 6s 102
41
E ssex & H u d son G as 100 115
1st 5s 1 9 1 0 -1 9 1 4 ...J - J 4100
37
84
90
P r e f e r r e d ................... 100
96
K in g s C. E l—4s Hee Stock E x ch list
4.1*2
F o r t W a y n e 6s 1 9 2 5 ..J-J
H T e x a s * P a cific C oal 100
100
60
65
56
A m er W ritin g P a p e r. 100
75
1st Os 1 9 0 8 ............... A-O 2104
N a ss a u E ie c p r e t .. . . . 1 0 0
Gas<fc E l B e r g e n C o .. 100
134
2*4
21
99
itto”
P r e f e r r e d ...................l o o
T itle I n s C o ot N Y ..1 0 0 150
6 s 1 9 4 4 ...................... A-O 104
23
11G r K a p G l s t 5s ’ 15 F -A 2 95
13 *9
108
1 st 4s 1 9 5 1 ............See St k E x t
1st sf g 5s ’ 19 op ’0 9 .J - J
T ou a p a h M in (N e v a d a ). 1 t 13
83
81
H u d so n C o G as............100 105
la
17
60
99
70
N" W b ’ gdfc F la t 1st ex 4 *<j8
In d ia n a N a t ds 111 lia s —
IJBarney <fc Sm Car . .. 1 0 0
I’ren ton P o tte rie s conilOO
84
90
10
20
S tein w ay 1st 6s 1 9 2 2 .J-J 2105
II P r e fe r r e d ................. 100 130
135
1 st 6s 1 9 0 8 ............. M -N
P re fe rre d n e w ___ 100
36
45
50
1 2 ^ 11*4 T r o w D ir e c t o r y ........... 100
55
liB etlil’ m Steel C orp .1 0 0
O T H E K CITIE S
In d ia n a p o lis G a s ..........50
l l4
37
2 90
98
U P r e fe r r e d ............... 100
40
B u ffa lo S tre e t R y —
1st g 5s 1952........
U nion C o p p e r .................10
14
78
82
99
135
1 st c o n s o l 5s 1 9 3 1 ..F -A 2105
B liss C om pa n y c o m ___ 50 1 2.»
U nion T y p e w r c o m ..1 0 0
J a c k s o n G as os g ’ 3 7 . A-O 2 94
_____
50
12 j
118
135
P r e f e r r e d .....................50
1st p r e fe r r e d ............. 100 116
D e b 6s 1 9 1 7 .* ... . . . A . O $104
K an sas C ity G a s ..........100
115
B o n d d i M t g G u a r ___ 100 330 345
2d p r e fe r r e d ............. 100 112
C h ic a g o C ity R y
See C h ica go list
H Lnclede G a s ............... 100 . . . . . . 94
90
60
170
U n ited B k N o te C o r p ..5 0 t 55
102
B o rd e n ’ s Con d M ilk .. 100 105
C o lu m b u s (O ) S t R y .-lO O l o o
U P r e fe r r e d ............... 100
49
107
40
52
45
P r e f e r r e d ...................100
P r e fe r re d ................. 50
110
P r e f e r r e d ...................100 107
109
L a ta y’ e G a s ls t 6 s ’ 24.M -N
85
25
91
35
B ritish u o l C o p p e r ......... 6 t
UU n ite d J ig a r M fg .,p f. l o o
934 10
C ola in R y con os See Ph ila list
L o g & W a b V l s t 6 s ’ 25.J-D
59
22
H
2103
104
108
B
u
tte
C
o
a
litio
n
M
in
..
15
U
n
ited
C
o
p
p
e
r
.............
100
C r o s s t’ w n l s t 5 s ’33.J-D 210o
24
M adison G as 6s 1926. A -O
603 b
83
P r e f e r r e d ...................100
90
131
C a sein Co o f A m com .. 100
54
G r a n d ' R a p id s R y . . . . l 0 0
56
3
N e w a r k G as 6s 1 9 4 4 .0 -J 4128
89
P r e f e r r e d ...................100
65
91
U s . C a s u a lty ............. 100 2 JO 240
82
75
84
P r e f e r r e d ............... ..1 0 0
N e w a r k C o n so l G a s ..1 0 0
125
U s E n v e lo p e c o m ...1 0 0
105*2 C asualty Co o f A m e r . lo O
45
jjj* k e S t (C h ic) El
See O h icago list
140
IjCon g 5s 1 9 4 8 ........J-D 105
C ellu loid C o ...................100 128
1i P r e fe r r e d .................100
^ L o u i s v St 5 S 1 9 3 0 ..J & J n o 4 3 4 105 *2 N o H u d so n L H <fc P o w —
100
132
U S S teel C o rp o ra tio n —
10
C en t F ire w o rk s c o m . 100
103
Xynndfc B os 1 s t 5 s ’ 2 4 .J-D J 102
15
o s 1 9 3 8 .......................A -O 4102
Col t r s f 5s ’ 51 o p t ’ 11 .. }1 0 9
65
P re fe rre d .................... 100
1 10*4
flJNew Ort K ys & L gt. 100
75
HO <fc In d C N a t & IU .1 0 0
20*4 21
C o l t r s f o s ’ S l n o t o p t .. 2109
18
C e n tra l F o u n d r y ........100
HP r e f e r r e d . ............. 100
22
06*4 66*8
1st 6s 1 9 2 6 ............... J-D
110*4
2*4
65
P r e f e r r e d ...................100
U S T it G u <& In d e m .1 0 0
100
70
15
TfGen M g 4 *28 ’ 35
See S tk E x list P a t & P as G as & EleclOO
17
V, U tali C op p er Co. s e e S
68
U o r t h C liic S tr e e t See G h ic a g o lis t
D e b 6s 19 1 9 op ’ 01M -N
lis t
101
71
1i C on g 5s 1 9 4 9 ___ M-S i 99
39 M 41
C en tu ry R e a lt y ......... 100
W a te r b u r y C o, c o m .. 100
185
90
95
2*110 S e r v C orp o f N J 10 0
86
195
St J o s e p h G as 5 s 1937.J -J 4 78
.......... 1100
C lieseb rou gh M fg Co 100 417
440y 11 P r e ie r r e d ...................100
T r c t fs 2% t o 6'J'o perpet
61 <2 66*4
E l e c t r ic C o m p a n ie s
W e s tch e s te r <fc B r o n x
90
C ity I n v e s t in g C o ___ lot
95
C o ll 5s g n o te s ’ 09 M -N 1 933* 93 V
1. T itle dfc M ort G u a r. 100 167*2' L721*
> N o r t h J e r s e y St R y 100
C h ic a g o E d iso n O o bee C h ica go list
1]01atlin (H B ) c o m ___ 100 100
40
1 W e s t m I c e .................l o o
90
H K in gsC o E l L & P Co 100 118
J,
1st 4s 1 9 4 8 ......... M -N 2 « 8
122
H ist p r e fe r r e d ......... l o o
30 a4i 31
Vi3
N a rra g a n ( P r o v ) El C o 50 f 95
w 'esu n g h A ir B r a k e ..50] 143 j .. . . .
C o n s T r a c of N J . .. 1 0 0
98
112d p r e fe r r e d ........... 100
7112 73
S tk E ix list
74 *75
W est E l & M fg —5s See
Col & H o c k C o a l& lp t 100
103
1
1st 5s 1 9 3 3 ........... J-D 5102
N Y & Q E l L & P o w C o lO O
6J
80
I X e w ’ k P a s R y 5 s ’ 30J-J 2105
P r e f e r r e d ...................100
W h ite K n o b M in ......... 10
75
1st g o s 1 9 1 7 ......... J -J i 82
*4 1
^
107
2 H»i C-*b
97
• R a p id T ran S t R y .,1 0 0 225
U n it e d E le c t r ic o f N J 1 0 0
65
C ol tr os O ct 1 9 5 6 ..J-J
l o l ^ 1 P r e fe r re d ...................... 10
......
42 I W o r th in g P iiiun n r e f. 111O 113 1115
4s 1949 ...................... J-D > 07
38
1 st 5s 1 92 1............A -O 5105
C on solid (Jar H e a tin g 100
08

Volume ot Business at Stock Exchanges

B id
75
110
113
75
45
1 10
09
1 10
105
7(1
93

A sk
90
120

Outside Securities

i B u yer p a y s a c c r ’ d ait.




r P n c e p e r s n . j s a i e p rice .

a E x-righta. z E x -d iv . i N e w sto ck .

USells on S»’ k E x ch ., but not a v e r y a o iiv e se c u r ity .

THE CHRONICLE.

A u g . 3 1907.J

% u m stm m t

<m £ R a i l r o a d

RAILROAD

GROSS

275

I n te llig e n c e ,

EARNINGS.

The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly return*
Can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last twos
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some othe*
period. The returns of the street railways are brought together separately on a subsequent page.
Latest Gross E a rn in g s.
P rev iou s
Y ea r.

ROADS.

A la G reat Southern — See S out
A la N O & T e x P a c.
N O & N E a s t . . . 1st w k J u ly
A la & V ic k s b u r g . 1st w k J u ly
V icksburg- Sh & P 1st w k J u ly
A la T en n & N orth _ . M a y ______
k A tc h T o p & S F e . J u n e _____
A tla n ta & C h ari___ M ay ______
A tla n B lrm & A t l ’ c . M ay _____
A t la n tlc Coast L in e J u n e ______
B a ltim ore & O h i o . . J u n e ______
B a n g or & A r o o s to o k M a y ______
B eliefon te C e n t r a l._ J u n e ___
B rid g e to n & S aco R Ma y _____
B u ff R o c h & P i t t s . . 3d w k J u ly
B u ffa lo & R u sq____ M a y ______
C a n adian N o r th e r n . 3d w k July
C a n adian P a c ific ___ 3d w k J u ly
Cen tral o f G e o r g ia . . 3d w k J u ly
C en tral o f N J e r s e y . M ay —
C h attan S o u t h e r n .. 2d w k J u ly
C h esapeake & O h io . M a y ______
C hesterfield & Lane M a y ______
C h ica g o & A lto n R y M a y ______
C h ic G reat W estern 3d w k July
C h ic In d & L o u is v . 3d w k July
C h ic In d & Sou th ern — See N ew
C h ic M ilw & S t P aul M a y _____
C h ic & N orth W e s t- J u n e _____
C h ic St P a u l M & o . J u n e _____
C h ic T erm T ran R R 4th w k Ju n e
C in N O & T e x a s P — See S out
C in cin n a ti N orth ern — See N ew
C lev Cin C h ic & St L — See N ew
C o lo r a d o M id la n d ., M ay ______
h C ol & S o u th S y s ._ 3d w k J u ly
Col N e w b & L a u r . . J u n e ______
C op p er R a n g e ______ M a y ______
C o r n w a l l ___________ J u n e ______
C ornw all & L e b a n o n M ay _____
D e n v & R io G ra nde 3d w k July
D e tr o it & M a ck in a c 3d w k J u ly
D e t T o l & I r o n t Sys 3d w k J u ly
D u l So Shore & A t l 3d w k July
E r ie ________________
M ay . . .
E v a n s v ille & T er H — See R o c k
F a irch ild & N E ___ J u n e ______
F o n d a J oh n st& G lov M ay _____
G eorgia R R ............... J u n e ______
G eorgia S ou th & Fl a— See Sou
G ra n d T ru n k S y s t . . 3d w k July
G r T ru n k W e s t . . 2d w k J u ly
D et G r H & M ilw 2d w k J u ly
C a n ad a A t la n t ic - 2d w k J u ly
G reat N o rth e r n ____ J u n e ______
M on ta n a C en tral- J u n e ______
T o t a l s y s te m ____ J u n e ______
G u lf & Ship Isla n d - 3d w k J u ly
H ock lnir V a lle y ____ M ay ______
Illin ois C e n t r a l------- J u n e ______
In ter & G reat N orth 3d w k J u ly
o ln t e r o c e a n lc CMe-x) 3d w k J u ly
Io w a C en tra l_______ 3d w k J u ly
K a n a w h a & M ic h . . J u n e ______
K an sas C ity S o u t h . J u n e ______
L a k e Erie & W e s t ’n — See N ew
L a k e Shore & M Sou — See N ew
L eh igh V a lle y ______ M ay ______
L e x in g to n & E a s t . . M a y ______
L o n g is la n d ________ M a y ______
L ou isia n a & A r k a n . M a y ______
L ou lsv llle & N a s h v . 3d w k July
M a co n & B I r m ln g .. J u n e _____
M anistee & N o E ast M arch . 4. . .
M a n ls tlq u e_________ J u n e ______
M arylan d & P e n n .. Ju n e ______
a M exica n C en tra l. . M a y ______
a M exica n In t e r n a t . 3d w k J u ly
a M ex ica n R a ilw a y . 2d w k J u ly
a M ex ica n Sou th ern 2d w k J u ly
See N ew
M ich igan C en tral___
M id lan d V a lle y ____ J u n e ______
M ineral R a n g e _____ 3d w k July
M ln neap & St L ou is 3d w k J u ly
M inn St P & S S M . 3d w k J u ly
M o K an sas & T exa s 3d w k J u ly
M o P a c & Ir o n M t . . 3d w k J u ly
C en tral B r a n c h .. 3d w k J u ly
T o t a l ....................... 3d w k J u ly
M ob ile & O h io ______
See S ou t
N a sh v C h att & St L M a y ______
a N a t R R o f M exico 3d w k J u ly
H id a lg o & N E . _ 3d w k J u ly
N ev a d a -C a l-O reg on 3d w k J u ly
N e v a d a C en tra l------- J u n e ______
N Y C h ic & St L ou is — See N ew
N Y O nt & W estern M ay ______

Latest G ross E a rn in g -

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

ROADS.

W eek or
M on th .

N Y C & H u d R iv e r
L a k e S h ore & M S
L a k e E rie & W e s t
C h ic In d & S ou th
M ich igan C e n tra l.
C leve C C & St L .
P e o r ia & E a stern
C in cin n ati N orth
P itts & L a k e E rie
R U t la n d _________
N Y C h ic & St L .
N Y Susq & W e s t . .
N o rfo lk & W e s te rn .
N o rth e rn C e n t r a l..
N o rth e rn P a c ific ___
P a cific Coast C o ___
d P en n — E a st P & E
d W est of P & E .
P e o ria & E a stern . .
P h ila B a lt & W a s h .
P itts C i n C h l c & S t L
P itts & L a k e Erie
R a le ig h & S o u th p o rt
R e a d in g R a i l w a y __
C oal & Ir o n C o . .
T o ta l b o th c o s ___
R ic h Fred & P o t ___
R io G ra n de J u n e ___
R i o G ra n de S o u t h ._
R o c k Island S ystem
e St L & San Fran
f E van sv & T er H
T o ta l o f all lin e s .
R u t l a n d ____________
St J os & G ra n d I s l.
St L o u is & San Fran
St L o u is S o u th w e s t.
S e a b o a rd A ir L i n e . .
Sierra R a ilw a y ____
S ou th ern I n d ia n a __
c S ou th ern P a c C o . .
S ou th ern R a ilw a y - .
M ob ile & O h i o . . .
C in N O & T e x P .
A la G reat S o u t h .
G eorg ia S o & F l a .
T e x a s C e n tra l_____
T e x a s & P a c ific ____
T id e w a te r & W e s t .
T o le d o & O h io Cent
T o le d o P e o & W e s t .
T o le d o St L & W e s t
T o m b tg b e e V a l l e y . .
T o r H a m & B u ffa lo
U n io n P a cific S y s t .
V irg in ia & So W e s t .
W a b a s h ____________
W e s te rn M a r y la n d .
W e s t J ersey & S e a .
W h e e l & L a k e E r le .
W lsco n s ln C e n tr a l..
W r lg h ts v & T en nllle
Y a z o o & Miss V a lle y

J u n e _____
J u n e _____
J u n e _____
J u n e _____
J u n e _____
J u n e _____
J u n e _____
J u n e _____
Ju n e . . . . .
.J u n e _____
J u n e _____
M a y _____
M ay _____
J u n e _____
J u n e _____
M ay _____
J u n e _____
J u n e _____
— See N ew
Jun e _____
J u n e ______
— See N ew
M a y ______
M ay . . .
M a y ______
M a y ___
M ay . . .
M a y ______
3d w k J u ly
M ay _____
M a y ______
M a y _____
M a y ______
— See N ew
M a y ______
— See R o c k
3d w k J u ly
M a y --------M a y ______
J u n e ______
M ay ______
3d w k J u ly
3d w k J u ly
3d w k J u ly
3d w k J u ly
3d w k J u ly
3d w k J u ly
3d w k J u ly
M a y ______
J u n e _____
3d w k J u ly
3d w k J u ly
M a y _____
J u n e ______
J u n e _____
J u n e ______
3d w k J u ly
3d w k J u ly
J u n e ___
3d w k July
M a y ______
June ______
J u n e . ____

J u ly 1 to L atest D ai*.
Curren',
Y ea r.

Current
Y ea r.

h e m R ail
50.000
53 000
53.000
50.000
24 000
22.000
24.000
22.000
27 000
27.000
22.000
22,000
42 361
31,175
3,583
3,426
,801,005
7 ,856,592 ,728,087 93.683 401
,743,816
371,850
325,883 3,930 934
141,077
,025,824
110,816 1,449 477
,868,445
2 ,0 9 7 ,1 0 4 2 ,152,908 26,771 527
7,1 9 6 ,0 8 5 0,572 814 82,243 921
,392,058
213,279 2,957 ,049
282 ,132
,280,268
5,416
59.137
60 ,472
6,424
3,897
42 566
3,613
42,893
542 ,672
204,038
126,472
379 416
171,887
110,963 1.686 ,278
,417,196
642 ,600
141,400
415 .300
218,200
1 ,525,000 1 ,306,000 4,618 ,000
,951,000
641 ,500
217,600
226,800
656,900
,883,710
2 ,464,508 1 ,850,203 24,249 ,172
6 ,663
3,552
3,618
6,997
,406,431
2,390,938 2 ,196,342 23,366 ,176
51 ,912
5,711
2,872
35,638
,674,537
822,121 11,742 ,326
969,138
450 ,728
150,668
159,433
469,441
311 761
113,674
105,989
336 ,560
Y o r k Cen tral.
4 ,926,565 4,340,243 55,6 6 9 ,4 2 50,649,321
5,9 3 1 ,5 8 4 5 ,797,223 68,878,929 6 3,481,545
1,148,448 1 ,084,170 14,035,306 12,943,745
41,818
45.645 1,715,679 1,7 2 9 ,9 1 7
hern R a il w a y .
Y o r k Cen tral.
Y o r k Cen tra l.
198,939
180,431 2,255 ,284 1 ,958,008
806 ,789
276,617
267,458
731 ,319
311 ,952
17,942
17,675
289,120
741 ,168
52,983
82,677
613,900
220 ,971
17,572
205,215
19,183
442 ,851
46,143
35,011
408,043
396,200 1,282 ,700 1,1 1 5 ,1 0 0
454 ,300
75 ,017
25,095
67,791
24,411
230 ,205
82,913
217,011
75,263
206 ,155
73,206
62,808
191,429
4,8 6 6 ,6 6 2 4,102,434 49,000 ,876 45 ,500,600
Isla n d S y ste m .
18,809
1,619
1,673
22,2 9 4
706 ,462
6 2,099
56,809
644.095
2 10,435
199,140 3,016,455 2,8 4 2 ,4 9 3
t h e m R ai lw a y .
902 ,565
814 787 2.672 593 2 453.381
243 ,996
120,825! 113,073|
226 ,642
72 ,666
83,245
36,601j
43,764j
88 ,322
46,178,
4 1 ,214|
88,647
4,9 6 2 ,3 4 0 4,4 2 3 ,2 9 0 53,221 908 19,505,383
,754,304
249 ,146
250,542 2,771 518
5 ,2 1 1 ,4 8 6 4,6 7 3 ,8 3 2 55,993 428i52 ,259,687
156 ,545
52,8671
44,102
131,645
669,337! 468 ,455 6,232 ,797[ 5 ,907,920
4 ,8 8 2 ,8 9 4 4,3 0 0 ,3 8 7 56,610 632!51 ,636,404
356 ,000
129,000| 122 ,000
343,000
378 ,185
127,880[ 138,549
397,254
53,076
54,102
150 ,681
161,681
152,759
2 1 3 ,3 1 1 1 191,892 2,377 ,659
661,980 9,284 882
870,428
,752,889
Y o r k Cen tral
Y o r k Cen tral.
3,219.591 2,4 1 8 ,3 3 5 32,720,036 29,6 1 6 .9 9 3
532,641
58.456i
51,036
481 ,514
In c . 887 , 172
I n c .7 3 , 549
956 ,464
117.8541 105,308 1.101.764J
864 ,770 2 ,6 6 8 ,02o 2 ,4 9 3 ,6 1 0
920,305
12,705
103,656
10,9001
164,882
44,060
44,654!
14,461
76*524
5,001
102*211
27.688
300,547
29,7321
360,298
2,9 9 5 ,9 8 2 2.4 7 9 ,4 2 2 28,4 9 2 ,1 0 7 2 5 ,794,867
4:12,064
381,923
17 4 ,9 2 7 1 127,843
287,500
150,000; 147,000
282 ,900
24,664;
22,958
57,861
45,075
Y o r k Cen tral.
37.391
92,223
17,105
13,309
46,565
38,702
84,149
70,306
237,522
210,809
256 ,017
795,516
236 ,899
674,502
514,407
412,292 1,386,202 1 ,133,809
016,000
870 .000 2.4 3 1 .0 0 0 2 ,2 8 1 ,0 0 0
36,000
36,000
78,000
88,000
052 ,000
906 .000 2 .5 0 9 .0 0 0 2,3 7 9 ,0 0 0
hern R a il w a y .
1,122,3111 995,199 11,124,675 9.9 9 2 ,4 6 1
307,131) 268,569
900,494
810.458
20,966
19,053
54,495
55,670
5 ,536j
5,029
18,399
14,407
6,811
8 ,3 6 1 1
84,489
61,249
Y o rk Cen tral.
695,070; 554,410 7 ,4 7 6 ,1 1 5 6 ,562,584

8,6 8 4 ,2 6 0 7,6 4 9 ,6 4 5
3,791,103 3 ,557,298
402,461
422,895
254,849
169,409
2 ,376,125 2 ,173,443
2,323,844 2,039,791
266,281
257,607
82,554
94,258
1,386,504 1,359,776
269,300
257 ,801
821,568
791,631
295,289
204,427
2 ,8 7 0 .6 0 3 2 ,557,207
1 ,165,702 1,041,102
6,333,921 5 ,447,224
458 ,348
660,629
14035487 12360787
I n c . 97 3,100
Y o r k Cen t r a l.
1,481,117 1 ,364,417
2 753,937 2,442,849
Y o r k Cen tr a l.
9,332
6,082
S .995,910 3 ,289,052
3,407,558 2,7 7 3 ,7 8 3
7,403,468 6,0 6 2 ,8 3 5
208,267
210,811
73,625
58,818
11.242
11,160
5,1 2 1 ,4 1 6 3,926,801
4 ,3 0 6 ,8 2 9 13,181,663
180,558
194,655
9 .6 2 2 ,9 0 0 7.2 8 9 ,0 2 3
Y o r k Cen tral.
154,612
124,266
Isla n d S y s te m .
183,535
168,857
1 ,421,963 1.296,726
34,094
33,221
132,797
135,566
11110813 8,9 7 8 ,2 7 4
1,099,322 1,063,587
160,885
182,737
165,244
168,426
68,756
77,509
4 0.3 6 7
38,058
15,036
19,267
228,842
278,881
10,816
9,307
439 ,542
320,035
22.242
21,021
74,319
76,123
4,630
5 ,5 6 0
78,330
65,297
6,577,66!) 5,507,281
99,385
90,561
522.477
529,212
104,752
112 ,266
501,124
536,424
144 ,683
96,917
683 ,103
6 02 ,403
13,230
14.367
668,195
716,167

1,64*1*703
113859624
3,1 7 3 ,0 0 7
532,363
499 ,546
226,595
121.329
59,134
788,041
85,429
4,8 6 6 ,6 5 9
63,208
223.330
69,783
867 ,349
7 6 ,0 3 2 ,7 0 3
1,062,909
1 518,476
313,944
5,3 8 6 ,2 5 8
395,063
6,872,785
226,265
9,4 3 3 ,9 8 7

P erio d .

Current
Y ea r.

Preview*
Y ea r.

1,091,288
31,388
136,482
31,218
4 ,2 3 5 ,9 0 0
738,771
46,9 3 0 ,8 9 5
21,5 8 9 ,5 3 6
2 ,432,537
1,499,498
13,833,980
12,439,760
1,441,921
4 79 ,804
7,0 4 2 ,0 4 4
1,386,496
5 ,221,022
6 ,346,194
7 9 ,141,549
I n c A , 92
8,178,211
15 935 ,777
3 92,264
9 .1 6 7 ,7 7 5
2 ,327,452

1,012,34V
27.9M
183,40*
£1,130
1 .7 7 9 .5 « t
682,702
4 2 ,8 7 8 ,2 2 4
20,60,7 ,0®?
2,525,374
1 ,1 4 6 ,2 4 *
12,<518,142
11,362,514
1,461,534
475,761
7 .0 4 7 .1 *4
1,267,86*
4,886,00®
5,475,794
6 9,826,S 44
0,300
7,518,411
14 ,1 5 2 ,£ I£

V a rio u s F isca l Y ea rs.
A t la n t a & C h arlotte A ir L in e ___
B e lle fo n tc C en tral_______ i ______
M anistee & N o rth e a ste rn _______
M a n ls t lq u e _______________________
M e x ica n R a ilw a y ________________
M e x ica n S o u th e r n _______________
N ew Y o r k C e n tra l_______________
L a k e Sh ore & M ich iga n Sou th
L a k e E rie & W e s te rn _________
C h ica g o In d ia n a & S o u th e r n .
M ich ig a n C e n tra l_____________
C leve Cin C h ic & S t L o u is ____
P e o r ia & E a s te r n _____________
C in cin n ati N o r t h e r n _________
P itts b u r g h & L a k e E r ie ______
R u tla n d .,........................... ..............
N ew Y o r k C h ica go & St L o u is
N o rth e rn C e n tra l________________
d P en n — E a st o f P itts & E r i e ..
d W e s t o f P itts b u r g h & E r i e ..
P h ila B a ltim o re & W a s h in g t c n .
P ltts Cine C h icag o & St L o u i s . .
R io G ra n de J u n c t io n ____________
T e x a s & P a c ific _________________
W e s t Jersey & Seash ore________

M ch
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
ja n
Jan
Jan
D ec
Jan
Jan

1

to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1 to
1 to
1 to
1 to

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

96,141,437
4 3 ,526,818
5,119,968
2,685,965
27,490,424
25,672,163
3,039,644
1,031,770
14,476,382
2,917,835
10,237,231
2,8 4 7 ,7 9 9
28,4 1 2 ,9 9 4
1 2 ,616,948
6 9 ,5 1 0 ,0 5 2
6 ,676,221
157554690
I n c . 8,99
16,683,849
31,273,802
91,570
39,537,555
35,418.016
74,9557571
1,7 7 4 ,1 6 0
755,794
34,435
54,880,855
4 5,8 0 9 ,9 2 7
2,1 0 4 ,2 9 0
102795074
1,597,731
546 ,206
15,050,368

489,742
, 8 9 S ,l2 l

7.288,931

Z,l70jZi£

AGGREGATES OF GROSS EARNINGS— Weekly and Monthly.
M on th ly Sum m aries.
2d
3d
4 th
1st
2d
3d
4th
1st
2d
3d

w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek

M ay
M ay
M ay
June
June
June
June
J u ly
J u ly
J u ly

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

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

Cur’nt Year Prev’s Year Inc. or Dee.
10,262,925
8 ,858,051;
10.326,105
8,9 1 1 ,3 7 2
1 6 ,473,009 1 4 ,4 0 3 .4 9 0 j
1 0 ,439,372
9 ,016,905j
9 ,2 4 7 ,6 1 0
10,808,646
9 ,317,171:
10,618,101;
14,309,499 1 2 ,9 0 9 ,6 8 4 '
8,587,1401
9,565,2531
9,4 2 1 ,8 9 6 !
10,452,143
10,787,8961
9,747,0031

+
+
+
+
+
+
+
+
+

%

S
1,404 ,874! 15.74
1,414 ,733 15.88
2,069 ,519 14.37
1,422 ,467 15.77
1,561 .036 16.88
1,330 ,930 14.28
1,399 .815 10.84
+ 978 .113 11.39
1.030 ,247,10.93
1,040 ,893:10.68

Monthly Summaries.
M onth
M on th
M onth
M on th
M onth
M onth
M onth
M on th
M on th
M onth

S ept
O ct
N ov
D eo
Jan
F eb
M ch
A p ril
M ay
June

1906
1006
1906
1906
1907
1907
1907
1907
1907
1907

(122
(119
(123
(127
(123
(122
(118
(118
(121
( 66

r o a d s ).
ro a d s ).
r o a d s ).
ro a d s ).
r o a d s ).
r o a d s).
r o a d s).
r o a d s ).
r o a d s ).
ro a d s ).

Cur'nt Year Prev’s Year Inc. or Dec.
184,551,471
198,733,229
186 696,274
184 ,235 ,59 5
173.212.305
1 62 ,283 ,99 2
1 80,539,532
188,130,451
195 .943 .30 5
8 2,4 6 7 ,7 0 6

171,553,520
179,405,267
175,727,985
170 ,746 ,76 9
162,623,883
152,555,191
1 64 ,645 ,00 9
1 5 4 ,894 ,74 8
165 ,890 ,34 5
72,9 2 3 ,6 8 3

+
+
+
+
+

12,997 ,951 r . u
19,327 ,962 10.71
10,971 ,289 6.24
13,488 826 7 . U
10,588 ,422
+ 9.728 ,801
+ 15,894 .523 e.«<
+ 33,235 ,703 2 1 ,4 t
+ 30,052 ,960 i s . y
+ 9,544 ,023, i i g

til

a M exica n cu rren cy, b In clu d e s earnings o f G u lf & C h ica g o D ivision ,
c In clu d e s th e H o u s to n & T e x a s C entral an d its s u b sid ia ry lines in botk
trears. d C ov ers lines d ire ctly o p e ra te d , e In clu d es th e C h icag o & Eastern Illin ois In b o th years,
f In clu d e s E v a n sv ille & In d ia n a R R .
h In n in g
karnines o f C ol. & S o u th ., F t. W o r th & D e n ve r C ity an d all a ffilia te d lines, e x c e p tin g T r in ity & B razos V a lle y R R .
k In clu d es in b o tii years eiroJ.™*
bt D en ver E n id & G u lf R R ,, P e co s System an d San ta F e P re s co tt ds P h o e n ix f^ r




276

THE CHRONICLE.

For the third week of July our final statement covers 44
roads and shows 10.68% increase in the aggregate over the
sair.e week last year.
T hird week o f J u ly .
P r e v io u s ly re p o r te d (24 roads) A la b a m a G reat S o u t h e r n ..
C en tral o f G eorgia . _______
C h ic a g o In d ia n a p <i: L o u ls v llle .
C in c N ew O rl & T e x a s P a c ific . _
C o lo r a d o & S o u th e r n .
. -_
D e tr o it & M a c k in a c .. ________
D u lu th S iu t h Sh ore & A t la n t ic G eorg ia S u t b e r n & F lorid a
G u lf & Ship I s la n d ...................
L o u is v ille & N a s h v ille . _
M ineral R a n g e . .
..
.
M in n eap Si P aul & S S M ._
M o b ile & O h io ___________________
N e v a d a C ° llfnrnla & O regon
R io G ra n de S o u t h e r n ___ . ___
S ou th ern R a i l w a y . .
____
T e x a s Cen tral _____
T o le d o P eoria & W e s t e r n ___
W h e e lin g & L a k e E r ie _______ .
T o t a l (44 roads)
N et in crea se (1 0 .6 8 % )

. . .
. . . ___

1907.
S
6,996,411
77,509
217 ,600
105,989
168,426
276,617
25,095
75,263
73,296
40,367
52,867
920 .305
17,105
256 ,017
182 ,737
5,536
11,242
1,0 9 9 ,3 2 2
19,267
22,242
144,683
10,787,896

1906.
S
6,164.166
68,756
2 2 6 ,80C
113,674
165,244
267,458
24,411
82,913
’ 62,808
38,058
4 4 ,102
864 ,770
13,309
236 ,899
160,885
5,029
11 .160
1,0 6 3 ,5 8 7
15,036
21 .021
96,917

Increase.

Oecrease.

$
854,618
8,752

S
22,373
9 200
7 .685

3.182
9.159
684
7,650
10,488
2,309
8,765
55,535
3,796
19,118
21,852
507
82
35,735
4,231
1 221
47,766

9 ,7 4 7 ,0 0 3 1,087.801
1.040,893

lxxxv.

also report charges for interest, &c., with the surplus abov
or deficit below those charges.
—I n t ., R en tals, & c .—
C u rrent
P r e v io u s
Roads
$
8,4 3 7
C o p p e r R a n g e ________ .M a y
92,811
J u ly 1 t o M ay 31
119,904
D u lu th So Sh & A t l — .J u n e
1 ,0 5 6 ,9 6 2
J u ly 1 t o Ju n e 30
0 5 1 ,4 7 6
G eorgia R R . ------ . .J u n e
J u ly 1 t o Ju n e 3 0 . ______ a 6 18,849
20,479
K a n a w h a & M ich ig a n . -J u n e
255 ,726
J u ly 1 t o Ju n e 3 0 .
10,627
M ineral R a n g e -----------J u ly 1 t o Ju n e 30
126,814
R io G ra n de S o u t h e r n .. -J u n e
17,577
J u ly 1 to Jun e 30
212 ,420
2,583
T e x a s C e n tr a l--------------- .J u n e
30,998
J u ly 1 t o Ju n e 3 0 .
38,048
T o le d o & O h io C entral .J u n e
44 4 ,0 7 5
J u ly 1 t o J u n e 3 0 . ...........

$
8,4 3 7
92,811
117,113
1 ,1 6 6 ,0 4 6
«5 0 ,7 8 7
a61 8 ,7 2 1
19,251
237 ,7 3 4
9,333
146 ,091
17,501
214 ,3 4 9
2,583
30,998
43,023
4 67 ,590

— B a l. o f N e t E 'n g s .—
C u rrent
P rev iou s
$
$
26,2 9 4
5 ,8 3 5
164,037
139 ,907
£ d e f2 2 ,8 6 9 £ d e f 2 7 .277
£ d e f5 5 ,5 3 5 £ d e fl 56,3 3 5
r d f.5 1 ,1 8 9 £ d f .2 6 ,685
Z df.1 3 8 ,2 9 1
£17 6 ,7 7 8
£ 21 ,225
£ 2 4 ,8 3 0
£ 2 6 7 ,0 7 4
£ 3 0 6 ,1 7 0
.73,836
£383
£44,104
£ 1 9 ,4 2 2
d e f 2 ,366
£362
£ 3 2 ,3 2 4
£ 25 ,511
12,387
1 4,122
3 3 9 ,9 2 4
3 9 8 ,6 3 0
£ 7 3 ,5 3 4
£21 2 ,8 5 3
£ 5 5 3 ,9 2 5
£ 1 ,1 8 5 ,2 9 5

a C h arges here In clu d e r o a d ren tal (paid b y lessee) and o th e r d e d u c tio n s
£ A ft e r a llo w in g fo r o th e r in co m e r e ce iv e d .
----------46,908

Net Earnings Monthly to Latest Dates.— The table folJcwing shows the gross and net earnings of STEAM railroads
reported this week. A full detailed statement, including all
jroads from which monthly returns can be obtained,is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of July 20 1907. The
-jiext will appear in the issue of August ‘24.
"^TQTtZE r y
--------G ross E a rn gs------- -----------N et E a rn in g s-------!
fo ld
<53
C u rren t
P rev io u s
C u rren t
P rev io u s
t
‘
"*
Y ea r.
yea r,
Y ea r.
Y ea r.
"Roads.
$
$
$
5
A t c h T o p & San F e . b -J u n e 7 ,8 5 6 ,8 0 2
6 ,7 2 8 ,0 8 7 (22,932,614 d 2 ,7 4 1 ,0 9 6
J u ly 1 t o Ju n e 3 0 _______9 3 ,6 8 3 ,4 0 1 8 0 ,8 0 1 ,0 0 5 d 3 4 ,8 1 5 ,5 0 3 d 3 0 ,792,525
A t la n t ic Coast L i n e . a . .J u h s 2 ,0 9 7 ,1 0 4
2 ,1 5 2 ,9 0 8
384 ,493
7 0 3 ,6 4 2
J u ly 1 to Ju n e 30
____ 2 6 ,7 7 1 ,5 2 7
2 4 ,8 6 8 ,4 4 5 6 ,3 2 9 ,5 0 0
7 ,9 7 6 ,2 4 7
B u ffa lo R o c h & P it t s , b . Ju n e
8 8 2 .4 5 8
4 9 1 ,1 9 0
4 7 6 .4 0 9
198 ,328
J u ly 1 t o Jun e 3 0 _______ 8 ,6 6 6 ,5 7 6
7 ,8 2 9 ,4 4 9
3 ,5 2 4 ,2 3 7
3 ,2 7 0 ,3 3 8
9 6 3 ,1 0 0
612 ,1 0 0
332 ,9 0 0
213 ,4 0 0
C a n a d ia n N o r t h e r n ____ Ju n e
J u ly 1 t o Ju n e 3 0 - . . - . . 7 ,4 9 3 ,1 0 0
5 ,5 6 3 ,1 0 0
2 ,1 1 8 ,0 0 0
1 ,9 1 1 ,7 0 0
C a n a d ia n P a c i f ic .a Ju n e 6 ,8 1 7 ,7 1 2
5 ,4 7 7 .3 5 1
2 ,4 1 5 ,1 0 6
1 ,9 3 8 ,0 4 9
J u ly 1 t o Ju n e 3 0 _______ 7 2 ,2 1 7 ,5 2 4 6 1 ,6 6 9 ,7 5 8 2 5 ,3 0 3 ,3 0 8 2 2 ,9 7 3 ,3 1 2
C o lu m b N ew b & L a u a -June
1 7 ,942
17,675
d e f5 ,2 1 1
1,172
J u ly 1 t o Ju n e 3 0 _______
3 1 1 ,9 5 4
2 8 9 ,1 2 0
35,9 1 5
51,7 4 8
C o p p e r R a n g e .a ______. . M a y
82,6 7 7
5 2 ,983
34,731
14,2 7 2
J u ly 1 t o M a y 3 1 _______
7 4 1 ,1 6 8
613 ,9 0 0
2 56 ,848
232 ,7 1 8
19,183
17,572
9.640
9 ,6 1 2
C orn w all R R - a _________ Jun e
J u ly 1 t o Ju n e 3 0 _______
220,971
205 ,215
1 04 ,546
105 ,394
D e tr o it & M a c k i n a c .a ..J u n e
1 1 4 ,8 2 9
105 ,129
15,9 3 8
2 3 ,818
J u ly 1 t o Jun e 3 0 _______ 1 ,3 1 1 ,2 7 3
1 ,1 5 4 ,8 2 6
219 ,921
203 ,1 5 4
D u lu th So Sh & A t l . b . . J u n e
314 ,463
276 ,257
88,271
89,201
J u ly 1 to Jun e 3 0 _______ 3 ,3 1 1 ,8 7 5
3 ,0 5 7 ,7 7 4
991 ,0 1 9
1 ,0 0 0 ,3 1 7
F a ir c h ild & N E ' n . b ___Jun e
1,619
1,6 7 3
91
346
J u ly 1 t o Ju n e 3 0 _______
18,809
2 2 ,294
d e f.2 ,5 2 5
5 ,3 8 5
G eorg ia R R . a ..................Jun e
210^435
199 ,140
51
24,080
J u ly 1 to Ju n e 3 0 _______ 3 ,0 1 6 ,4 5 5
2 ,8 4 2 ,4 9 3
4 7 2 ,7 8 4
7 78 ,679
Illin ois C e n t r a l . a - . ____ J u n e 4 ,8 8 2 ,8 9 4
4 ,3 0 0 ,3 8 8 1 ,6 4 8 ,9 4 0
1 ,0 4 4 ,1 8 7
. .- 5 6 , 6 1 0 , 6 3 2 5 1 ,6 3 6 ,4 0 4 1 6 ,5 4 5 ,1 0 8 1 5 ,1 9 8 ,9 3 4
J u ly 1 t o Ju n e 3 0 .
7178,143
>185,500
2 42 ,062
I o w a C e n t r a l . a . .......... . .J u n e
234 ,5 3 6
h774 ,8 4 7
2 ,9 5 8 ,5 8 4
71981,838
J u ly 1 t o Ju n e 3 0 _______ 3 ,1 3 2 ,0 4 5
4 3 ,0 5 2
4
0
,459
191,892
K a n a w h a & M lc h lg a n .a J u n e
213,311
536 ,127
515 ,695
2 ,1 5 2 ,7 5 9
J u ly 1 t o Ju n e 3 0 ----------- 2 ,3 7 7 ,6 5 9
9,578
14,290
57,722
M in era l R a n g e .b -----------Ju n e
6 7 ,4 7 0
163,261
169,796
7 3 9 ,3 4 0
• J u ly l t o Ju n e 3 0 .............
786,941
f c l4 7 ,898
k 138,441
326,671
M ln n eap <Sc St L o u i s .a - .J u n e
352 ,1 2 8
3 ,7 2 6 ,6 6 3 k l ,3 1 6 ,5 3 8 £ 1 ,4 1 7 ,4 7 0
J u ly 1 t o Ju n e 3 0 . . . . . . 3 ,8 7 3 ,6 6 8
1 ,0 4 1 ,1 0 2
2 7 2 ,3 1 5
304 ,9 1 5
N o rth e r n C e n t r a l . b ____Ju n e 1 ,1 6 5 ,7 0 2
5 ,4 7 5 ,7 9 4
1 ,0 9 5 ,7 8 4
1 ,1 6 2 ,3 8 4
Jan 1 t o Ju n e 3 0 _______ 6 ,3 4 6 ,1 9 4
P e n n s y lv a n ia L in e s d ir e c t ly o p e r a te d —
E a st o !'P it t s & E r i e .. J u n e l 4 ,0 3 5 ,4 8 7 1 2 ,3 6 0 ,7 8 7 4 ,4 0 2 ,5 0 4
3 ,9 7 0 ,8 0 4
Jan 1 t o Ju n e 3 0 _______ 7 9 ,1 4 1 ,5 4 9 6 9 ,8 2 6 ,8 4 9 19,9 7 2 ,0 4 6 19,5 3 7 ,1 4 6
W e s t o f P itts & E r i e .- J u n e
In c.
9 7 3 ,1 0 0
I n c . 202 ,700
Jan 1 t o Ju n e 3 0 . ...........
I n c . 4 ,9 2 0 ,3 0 0
In c . 7 82 ,700
P h ila Hair & W a s h , b . .J u n e 1 ,4 8 1 ,1 1 7
1 ,3 6 4 ,4 1 7
365 ,435
374 ,2 3 5
J an 1 to Ju n e 3 0 _______ 8,1 7 8 ,2 1 1
7 ,5 1 3 ,4 1 1 1 ,4 2 5 ,5 5 5
1 ,7 4 1 ,1 6 0
R i o G ra n de S o u t h e r n .b -J u n e
51,058
46,411
17,938
1 5 ,135
J u ly 1 t o Ju n e 3 0 _______
6 11 ,638
562 ,9 0 5
228 ,451
2 3 8 ,2 7 5
S ou th ern R a llw a y _ a . .J u n e 4 ,6 0 9 ,3 0 5
4 ,2 9 3 ,5 7 0 1 .1 7 6 ,5 9 6
1 ,0 6 7 ,8 7 3
. .5 6 ,6 5 7 ,9 9 1 5 3 ,6 4 1 ,4 3 6 11,958,711 1 3 ,8 6 8 ,2 9 9
J u ly 1 to Ju n e 30
202,085
7 5 1 ,6 7 7
195,867
C in X O &*Tex P a c . a - Ju n e
8 5 3 ,4 9 3
8 ,4 5 4 ,8 9 6
1,747,411
2 ,0 6 2 ,2 2 8
J u ly l t o J u n e 3 0 ----------- 8 ,7 7 8 ,8 4 7
52,196
84,517
317 ,083
A la G rea t S o u t h . a - - - J u n e
3 78 ,459
3 ,7 7 4 ,6 2 0
782,881
7 1 2 ,7 5 6
J u ly 1 to Ju n e 3 0 ----------- 4 ,1 6 9 ,4 5 6
22,493
166 ,168
28,6 0 3
G eorgia So & F l a . a .- J u n e
189,881
42 5 ,2 8 6
393 ,134
1 ,9 4 4 ,9 4 5
J u ly 1 to Ju n e 3 0 _______ 2 ,2 7 3 ,3 4 2
9 5 ,036
16,705
6 0 ,1 7 0
14,970
T e x a s C e n t r a l.a -------------Ju n e
945,241
4 2 9 ,6 2 8
370 ,922
J u ly 1 to Ju n e 3 0 ----------- 1 ,2 4 4 ,1 0 7
3 2 0 ,0 3 5
1 75 ,636
103 ,9 7 8
439 ,5 4 2
T o le d o & O h io C e n t .a - - J u n e
1,0 0 4 ,2 7 2
4 ,0 7 2 ,1 5 9
1 ,5 4 7 ,0 2 9
J u ly 1 t o Ju n e 3 0 ----------- 4 ,8 6 6 ,6 5 9
5,507,281
2,5 8 2 ,0 9 9
2 ,1 9 9 ,5 9 6
U n io n P a c l f lc .a ________ Jun e 6 ,5 7 7 ,6 6 9
J u ly 1 t o Ju n e 3 0 _______76 ,0 3 2 ,7 0 3 6 7 ,2 8 1 ,5 4 2 3 3 ,3 3 8 ,9 3 0 3 0 ,3 1 7 ,7 7 0
W Jersey & S e a s h o r e .b -J u n e
5 3 6 ,4 2 4
5 0 1 ,1 2 4
165 ,655
171 ,055
Jan 1 t o Ju n e 3 0 _______ 2 ,3 2 7 ,4 5 2
2 ,1 7 0 ,5 5 2
105 ,832
524 ,0 3 2
W r ig h ts v & T e n n ille -b .J u n e
S 14.367
S 13.230
1,879
2,284
J u ly 1 t o J u n e 3 0 .............
s2 2 6 ,2 6 5
s2 0 5 ,1 3 0
61,2 2 6
70,825
a N et earnings here g iv e n are a fte r d e d u c t in g ta x e s ,
b N et earn in gs here g iv e n are b e fo r e d e d u c t in g ta x e s.
d T h e c o m p a n y n o w in clu d e s e a rn in g s o f th e D e n v e r Flnld & G u lf R R . ,
P e c o s V a lle y sy s te m a n d S a n ta F e P r e s c o t t & P h o e n ix R y . In b o th y e a rs,
F o r Ju n e ta x e s a n d ren tals a m o u n te d t o $ 3 2 4 ,9 9 5 , a g a in st $ 2 0 4,87 7 in 1906,
a ft e r d e d u c t in g w h ic h , n et fo r Ju n e 1907 w as $ 2 ,6 0 7 ,6 1 9 , a gain st $ 2 ,5 3 6 ,2 1 9
la s t y e a r .
F r o m J u ly 1 t o Ju n e 30 1907 t a x e s a n d rentals„w ere $ 2 ,6 6 1 ,8 0 8 ,
a g a in s t $ 2 ,3 9 4 ,0 1 0 la st y e a r .
ft F o r -Tune 1907 a d d it io n a l in c o m e w as $ 6 ,1 2 6 , a g a in s t'$ 6 ,0 8 9 in 190 6,
a n d fro m J u ly 1 t o J u n e 30 w as $ 59 ,849 In 1907, again st $ 5 8 ,0 3 2 In 1906.
k F o r Ju n e 1907 a d d itio n a l in c o m e w as $ 1 9 ,4 2 6 , a g a in st $ 1 7 ,0 8 8 In 1 9 0 6 ,
a n d fro m J u ly 1 t o Ju n e 30 w as $ 2 2 6 ,6 8 4 in 1907, a g a in st $ 1 8 8 ,4 8 4 in 1906.
s In c lu d e s $437 o th e r In co m e fo r Ju n e 1907, agalnstT $459 in 190 6, an d
fr o m Jui; I t o Ju n e 30 $5,371 in 190 7, a g a in s t $5,609J last y e a r.

Inter:si Charges and Surplus.— The following roads, in
addition to their gross and net earnings given in the foregoing,




[V o l .

STREET RAILW AYS AND TRACTION COMPANIES.
Latest G ross E a rn in g s.
N a m e of
R oad.

a A m e rica n R y s C o —
cA u r E lg in & C h ic R y
B in g h a m to n R y --------B irm R y L t & P o w e r
C en tral P en n T r a c .

D u lu th S treet R y —

W eek or
M o n th .
J u n e ..........
M ay
A p r i l ______
M a y ______
M ay ..........
M ay _____
J u n e ______
J u n e --------J u n e ______
J u n e ______
J u n e ______
J u n e _____
2d w k Ju ly
2d w k Ju ly
3d w k J u ly
M ay _____
M ay

F t W ayn e & W abash
M ay _____
V a lle y T r a c t i o n ..
M ay _____
M a y ______
H a v a n a E le c tr ic R y . W k J u ly 28
H o n o lu lu R a p id T r &
L a n d C o ----------------- M a y ______
____
H o u g h to n C o St R y . . M ay
H o u s to n E le ctric C o . M ay ______
Illln ols T r a c tio n C o ._ J u n e _____
J a ck so n C on sol T r a c . M a y ______
M ay ______
J u n e --------M ay . .
M a r c h ____
J u n e _____
J u n e ______
J u n e --------W k J u ly 27
M ontreal S treet R y
N ash ville R y & L ig l M ay --------X J & H R R y & F y Co J u n e _____
N O R y & L ig h t C o ._ J u n e ___ __
X o r O h io T r a c fe, L t _ . J u n e ______
X o r f & P o rtsm T r Co J u n e ______
N o W e stch e ste r L t C o J u n e ______
J u n e ..........
N orth w estern E le v
O k la h o m a C ity R y . . J u n e --------J u n e ...........
M ay ______
R io de J an eiro T ra m
L ig h t & P o w e r . . . J u n e --------M a y ______
St J o se p h (M o) R y Lt|
H eat & P o w e r C o . . J u n e ______
. ..
S a o P a u lo T r L t & P . Jun e
M a y ______
J u n e ______
Jun e --------T a m p a E le ctric C o .

M ay ______
W k J u ly 27
3 d w k J u ly
F e b ru a ry J u n e ______
W e s t C h ester R y ____ J u n e ______
M ay ---------

C u rren t
Y ea r.

P rev iou s
Y ea r.

Jan.

1 to latest date.

C u rrent
Y ea r.

P revtou s
v<m-.
$
1 ,2 5 1 ,3 3 0
4 3 0 ,4 7 2
8 3 ,413
7 4 5 ,9 6 8
3 3 ,003
9 3 ,996
3 1 6 ,6 1 7
314 ,793
331 ,8 7 2
42 5 ,2 3 8
113 ,887
2 8 9 ,2 7 7
_______
3,0 1 6 , S44
4 0 7 ,5 0 8
7 3 3 ,13S
148 ,6 3 9

i
264 ,9 8 6
116 ,415
20,240
150,552
9,772
20,154
66,3 2 6
62,784
96,991
70,434
27,387
67,965
7,232
139,217
18,713
178,988
40,5 3 6

$
2 47 ,2 3 0
102,533
22,011
153,857
8,793
20,874
61,869
55,612
84,555
70,887
27,257
59,058
124,328
16,149
159 ,183
31,666

$
1 ,3 6 7 ,9 6 9
4 94 ,799
8 5 ,886
872,317
36,096
87,526
347 ,6 1 0
343 ,454
434 ,5 0 8
428 ,782
123,187
338 ,686
6 1 7 9 ,P28
3,3 8 7 ,1 9 7
4 41 ,958
8 14 ,750
192.642

101 ,012
31,4 6 8
271 ,213
33,568

87,327
27,721
233 ,155
30,800

4 61 ,970
1 33 ,785
_______
994,134

398 ,9 5 8
1 07 ,297
_______
876,581

31,801
20,774
54,136
307 ,119
12,613
3 2 ,384
515 ,816
46,6 4 8
7 8 ,000
222 ,777
3 24 ,626
77,762
7 1 ,535
124,290
4 8 ,6 6 8
4 92 ,653
182 ,242
254 ,247
7,891
148 ,576
25,639
16,513
148 ,273

29,452
18,212
49,176
239 ,988
12,170
26,306
457 ,788
46,639
72,500
200,961
295 ,947
65,672
64,616
113,106
44,272
446 ,278
159,733
150,750
7,170
120,247
16,678
15,219
112,155

150,454
91,725
258 ,274
1 ,7 0 6 ,3 1 7
53,882
158,237
2 ,8 6 7 ,9 7 3
204 ,220
2 29 ,0 0 0
1 ,380,794
1,826,987
344 ,126

140,690
7 9 ,937
223 ,0 2 2
1 ,3 6 2 ,8 7 0
5 1 ,3 7 7
1 25 ,255
2 ,5 7 6 ,5 8 8
184 ,1 3 3
2 2 0 ,8 8 0
1,224,141
1 ,6 5 1 ,8 6 5
292 ,822
_______
53 6 ,6 1 0
188 ,943
2 ,8 9 9 ,0 8 8
751 ,939
7 8 8 ,2 1 4
42,4 8 0
7 4 8 ,1 7 9
76,0 6 5
6 5 ,9 7 6

521 ,142
49,1 9 3

4 0 ,8 4 8

76,506
162,971
48,332
173,529
14,007
103,083
4 2 ,383
173 ,990
66,924
125,037
7i509,504
961 ,1 8 9
12,308
28,003

608 ,434
209 ,223
3 ,0 6 6 ,1 5 5
849 ,257
1 .1 0 0 ,1 8 0
51,710
829 ,464
115,386
75,824
.............
2 ,9 2 3 ,9 8 6
214 ,002

___
183 ,683

405 ,6 8 9
72,331
164,138 1 ,0 2 7 ,4 7 2
231,801
53,173
931 ,689
152,655
72,761
12,119
593 ,6 6 3
88,936
_______
36,937
834,881
167 ,847
5 9 ,344
111,484 3 ,2 3 7 ,3 2 4
563 ,906 7*1,047,498
899 ,073 5 ,2 8 7 ,6 1 2
7,576
59,506
20,393
137 ,066

392 ,727
986 ,927
245 ,7 8 4
8 6 1 ,8 8 0
58,2 7 5
514 ,514
784,391
_______
2,9 0 4 ,2 7 1
1,1 6 4 ,1 1 6
4,9 4 9 ,6 3 1
37,7 5 8
105 ,457

a F igu res fo r th e m o n th in b o t h years In clu de o p e r a tio n s o f th e S cra n to n
R y ., acqu ired Ja n . 1 1906. b F ig u res are fro m F e b . 1. c T h ese figu res are
fo r co n s o lid a te d c o m p a n y , d T h ese are resu lts fo r m a in lin e , f N ow in ­
c lu des R a p id R y . S y s t ., S a n d w ich W in d s o r & A m h e r s tb u r g R y . and D e tr o it
M onroe & T o le d o S h o rt L in e R y .
ft T h ese are e a rly p r e lim in a ry retu rn s;
deorease d u e t o e a rth q u a k e , fire and strike a m o n g e m p lo y e e s , A u g . 26 t o
S ept 5 1906.

Street Railway Net Earnings.— The following table gives
the returns of STREET railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of June 1 1907. The
next will appear in the issue of June 29 1907.
--------G ross E a rn 'g s-------- --------N et E a rn in g s-------C u rrent
P r e v io u s
C u rren t
P rev io u s
Y ea r.
Y ea r.
Y ea r.
Y ear.
R oads.
$
$
$
$
B la ck R iv e r T r a c t C o . b —
, „
J u ly 1 t o Ju n e 3 0 . ...........
9 4 ,2 2 0
8 4 ,9 1 8
2 ,3 2 0
5,5 8 0
H u d s o n V a lle y R y C o . b —
___
A p r 1 t o Jun e 3 0 _______ ___ 145 ,193
13.),039
41,761
4 o ,3 7 o
Jan 1 t o Jun e 3 0 _______ ___ 2 53 ,077
231 ,7 3 7
4 6 ,0 4 3
68,6 2 0
J u ly 1 t o Jun e 3 0 . .................6 0 6 ,6 5 8
5 5 5 ,9 7 3
1 91 ,019
2 2 8 ,6 1 9
I n te rn a tio n a l R y C o ( B u f f a lo ) - b —
A p ril 1 t o Ju n e 3 0 ______l , l l o , 0 0 5
1,0 1 0 ,4 9 8
3 7 2 ,9 2 3
3 7 7 ,6 0 7
Jan
1 t o Ju n e 3 0 ______ 2 ,1 1 2 ,0 0 3 1 ,9 1 7 ,1 4 3
703 ,4 0 8
6 86 ,027
J u ly 1 t o Jun e 3 0 ........... 4 ,5 2 2 ,9 2 3 4 ,0 9 3 ,9 1 0 1 ,8 2 4 ,1 4 4
1 ,6 8 3 ,9 7 8
C ro ssto w n St R y . b —___
..
A p ril 1 t o Ju n e 3 0 ..........
1 68 ,313
157 ,866
5S.722
5 8 ,8 8 2
Jan
1 t o Ju n e 3 0 ...........
326 ,367
302 ,2 6 4
1 19 .385
115 .5 4 8
J u ly 1 t o Ju n e 3 0 ______
663 ,095
600 ,5 7 5
2 8 2 ,0 3 7
2 o 6 ,4 5 3
K a n sas C ity R y & L t - b Ju n e
515 ,8 1 6
4 5 7 ,7 8 8
234 ,541
2 1 2 ,6 8 6

A

ug.

------ Gross E arn’ps-------

Current

Previous

$

$

Roads.
K in g s to n C on sol , b—
A p ril 1 t o Ju n e 30
Jan
1 t o Ju n e 30 ____
J u ly 1 t o Jun e 30
M ass E le c t Co b—
A p ril 1 t o Ju n e 30 ____
O ct
1 t o Jun e 30
N o rfo lk & P o r t s m ’th
-June
Jan 1 t o Ju n e 30
N o rth O h io T r & L t — .J u n e
Jan
1 t o Jun e 30 ___
P h ila d e lp h ia C o . b —
A p r 1 t o Ju n e 30 ____
Jan ! t o Ju n e 3 0 . __ _ _•
J u ly 1 t o Jun e 3 0 . _____ i
S y ra cu se R a p id T r R y ..June
Jan 1 t o Ju n e 30.
T w in C ity R a p T r C o . b .J u n e
Jan 1 t o Ju n e 30

------- Net Earnings -------

Current

Previous

$

5

34,680
61 ,091
141 ,678

35,145
59,115
130,543

9,271
17,779
56,626

15,232
24,041
55,7 9 7

1,9 2 4 ,3 3 3
5 ,1 6 5 ,4 7 5
254 ,247
1 ,100,180
182,242
849,257

1 .860,142
4 ,9 4 7 ,5 3 5
150,750
7 88 ,214
159 ,733
751 ,939

672 ,156
1 ,476,710
105,012
399 ,698
8 1 ,4 3 5
3 3 5 ,8 5 4

664,911
1 ,4 9 1 ,8 0 1
47,9 7 8
2 6 8 ,1 6 6
67,581
271 ,853

4 ,8 6 1 ,1 3 9
4 ,4 8 4 ,1 1 4
9 ,9 6 3 ,2 5 2
9 ,2 7 2 ,2 3 7
8 ,9 1 4 ,5 5 2 17,410,714
103,083
88,936
593,663
514 ,514
530,741
484 ,590
2 ,8 4 8 ,6 1 4
2,5 5 4 ,6 0 7

1,7 4 2 ,6 8 3
3 ,8 9 7 ,5 8 2
7,0 7 5 ,2 9 2
43,473
256 ,187
281 ,972
1 ,451,473

1 ,789,775
3 ,9 3 7 ,8 6 0
6 ,925,161
36,561
217,940
269,046
1,340,225

a N et earning’s here g iv e n are a fte r d e d u c tin g ta x e s,
b N et earn in gs here g iv e n are b e fo re d e d u c tin g ta x e s.

Interest Charges and Surplus.
—Int., Rentals, & c .—
Previous
Current
Year.
Year.

$

Roads.

B la ck R iv e r T r a c t C o —
J u ly 1 t o Ju n e 3 0 _______
H u d s o n V a lle y R y C o—
A p r 1 t o Jun e 3 0 ______
Jan 1 t o Ju n e 30
J u ly 1 t o Ju n e 3 0 ____ _
In tern a tion a l R y C o (B u ffa lo ) —
A p ril 1 t o Ju n e 3 0 _ .
Jan
1 t o Ju n e 3 0 _____
J u ly 1 t o Jun e 3 0 ___ _
C rosstow n S treet R y —
A p ril 1 t o Ju n e 30
Jan
1 t o Ju n e 3 0 . .
J u ly 1 t o Ju n e 3 0 _____
K a n sas C ity R y & L ig h t Jun e

Kingston Consol—

A p ril 1 t o Ju n e 3 0 _____ .
Jan
1 t o Ju n e 3 0 .
J u ly 1 t o Ju n e 3 0 .
M ass E le c t C o—
A p ril 1 to\.Jline 30
O ct
1 t o Ju n e 3 0 ______
N o rth O h io T r & L t C o . Ju n e
Jan 1 t o Ju n e 3 0 _____
P h ila d e lp h ia C o—
A p r 1 t o Ju n e 30
Jan 1 t o Jun e 3 0 _______
J u ly 1 t o Ju n e 3 0 _______
S y ra cu se R a p T r C o
.J u n e
Jan 1 t o Ju n e 3 0 ______
T w in C ity R a p T ra n C o .J u n e
Jan 1 t o Ju n e 3 0 _____

— Hal. of Net E'nas .—

$

$

21

5,261

2,299

Previous
Year.

Current
Year.

$

319

5 0 ,788
100,817
202,637

69,815
£ d e f6 ,7 6 9 £ d e fl!),8 9 1
133,993 £ d e f5 0 ,7 2 8 £d e f5 8 ,1 6 0
265 ,975
a:726 £ d e f2 2 ,6 4 0

252,937
501 ,795
9 96 ,574

241,616
£ l 37,443
480 ,070
£2 3 4 ,2 4 0
9 6 2 ,6 4 7 Xl ,0 12,100

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

50,144
96,218
192,922
153,228

47,588
94,421
188,999
142,026

£9,851
£2 5 ,7 5 6
£ 9 4 .3 0 6
81,313

£ 1 2 ,6 1 7
£ 2 3 ,7 2 6
£ 7 2 ,1 4 8
70,6 6 0

10,025
20,050
48,025

9,954
19,883
47,600

£ d e f.6 2 9
£ d e f.2 ,0 0 4
£ 9 ,1 6 8

£ 5 ,4 2 8
£ 4 ,4 5 8
£8 ,7 9 7

449 ,498
1,295,941
43,550
252 ,735

425,231
1,2 1 7 ,8 5 9
40,018
239,753

222 ,658
180,769
3 7 ,8 8 5
83,1 1 9

2 3 9 ,8 6 0
273 ,942
27,563
32,100

1 ,089,415
2 ,1 6 1 ,9 8 9
4 ,3 3 1 ,1 9 7
25,462
151,039
115,142
691,317

1 ,095,312
2 ,2 0 9 ,0 0 0
4 ,3 3 9 ,2 8 7
23,374
135,775
110,591
660 ,016

7 12 ,623
1 ,884.025
2,9 9 8 ,3 3 4
18,066
105 ,605
116,830
760 ,1 5 6

723 ,757
1 ,900,724
2 ,8 9 5 ,7 4 0
13,2 4 2
84 ,7 67
158 ,455
680 ,209

x A ft e r a llow in g fo r o th e r in c o m e r e c e iv e d .

ANNUAL REPORTS.
United States Steel Corporation.

(Earnings for the Quarter and Half- Year Ending .June 30 11)07.)
R E SU LT S FOR Q U A R T E R S E N D IN G J U N E 30.
1907.
$45 ,503 705

1906.
$40 ,125,033

i(5 9 5 ,6£0

5 .662,385
1 .2 74,578

$547,756
5 6 04 ,289
5 ,718,162
1 ,218,801

$13 ,660,193
$31 .843,512
6,304.919
2 ,541,513

$13 .089,008
$27 ,036,025
6,,304,919
2.,541,512

S u rp lu s for th e q u a r t e r ____
$22 ,997,080
O n a c c o u n t o f e x p e n d it u r e s m a d e an d t o b e m a d e
for a d d itio n a l p r o p e r t y , new p la n ts , c o n s t r u c ­
t io n a n d d is ch a rg e o f c a p it a l o b lig a tio n s
$18 ,500,000
S p e c ia l hr p .'o v e m e n t a n d r< p lacem en t fund
1 ,000,000

$18 ,189.594

000

$15 ,500,000
$2 6 89 ,591

N et ea rn in gs .......... .......................................... . _
Deduct—
S in k in g fu n d s on b o n d s o f s u b s id ia r y c o m p a n ie s
D e p r e cia tio n an d reserve fu n d s (rcg . prov ision)
In terest on U . S . Steel Ooi p . b o n d s
S in k in g fu n d s on IT. S. Steei O o ip . b o n d s

6 127,560

B a la n c e ______ ______________________________
D iv id e n d on p r eferred s to c k (1 ■, % )
D iv id e n d on c o m m o n s to c k ( '/i % )

$1

B a la n ce o f su p'.us fo r q u a r t e r .........................

UN F IL L E D
June
June
M ch .
D e c,
S e p t.
June
M ch .

Dec.
S ep t.

30
30
31
31
30
30
31
31
30

$3. =l

ORDERS ON
Tons.

1907
. . ___7 ,6 0 3 ,8 7 8
1906
6 ,8 0 9 ,5 8 9
1906
7 ,0 1 8 ,7 1 2
1905
________ 7 ,6 0 5 ,0 8 6
1 9 0 5 ..
.
. . .5 .8 6 5 ,3 7 7
1905
________ 4 ,8 2 9 ,6 5 5
1905. _
5 ,5 9 7 ,5 6 0
1 90 4.
________ 4 .6 9 6 ,2 0 3
1904
3 ,0 2 7 ,4 3 6

HAND.

30
31
31
S( p a . 30
June 30
M ch. 31
Dec. 31
Sept. 30
Jun e 30
June
M ch .
D ee.

,080

$13,.oOO.OOO
2 .500,000

Tons.
,1 9 0 4 _________ ..3 ,1 9 2 ,2 7 7
1 9 0 4 _________
4,136,961
1 9 0 3 __________
3 ,2 1 5 ,1 2 3
1 9 0 3 _________
.3 ,2 7 8 742
1903
______
4 666 ,578
1903
____
.5 ,4 1 0 ,7 1 9
1902
5 ,3 4 7 ,2 5 3
1 9 0 2 _____
4,8 4 3 ,0 0 7
1902
4,7 9 1 ,9 9 3

N E T E A R N IN G S FR O M O PE R A T IO N S FOR IIA L F -Y E A R E N D IN G
J U N E 30.
•
1907.
1906.
1905.
1904.

J a n u a ry _ ________
F e b ru a ry
March - - ..................
T o t a l q u a rter
A p r il _ __________
M a y ________
June

$ 1 2 ,8 3 8 ,7 0 3 $11 856 ,3 7 5
12,1 4 5 ,8 1 5
1 0 ,9 5 8 ,2 7 5
_ 1 4 ,1 3 7 ,9 7 4
1 3 ,8 1 9 ,8 4 0

$ 6 ,810 847
6 ,6 2 9 ,4 6 3
9 ,5 8 5 ,5 8 6

$2,8 6 8 ,2 1 3
4 ,5 4 0 673
6 ,0 3 6 ,3 4 6

$ 3 9 ,1 2 2 ,4 9 2 * 3 6 ,6 3 4 ,4 9 0 $ 2 3 ,0 2 5 ,8 9 6 $ 1 3 ,4 4 5 ,2 3 2
$ 1 4 ,6 0 0 ,8 3 8 $12,581 ,902
$ 9 ,0 3 7 ,9 2 5
$6,8 6 3 ,8 3 3
1 6 .0 8 6 .8 3 2
14 041,601
10,6 0 2 ,1 8 7
6 ,2 5 6 ,5 1 8
1 4 ,8 4 6 ,0 3 5
1 3 ,5 0 1 .5 3 0
10,665 004
6 ,3 7 0 ,3 7 4

T o ta l q u a r t e r ............... $ 4 5 ,5 0 3 ,7 0 5 $ 4 0 ,1 2 5 ,0 3 3 $30 ,3 0 5 , 116 $19 ,4 9 0 725
T o t a l h a lf-y e a r
$ 8 4 ,6 2 6 ,1 9 7 * 7 6 ,7 5 9 ,5 2 3 $53 ,3 3 1 . 012 $32 ,935 957
IN C O M E AC C O U N T FOR I iA L F Y E A R E N D IN G JU N E 30.
1907.
1906.
1005.

$

$

T o t a l n et ea rn in gs h a lf-y e a r (see In­
t r o d u c t o r y r e m a r k s ). ____ . . . .
8 4 ,6 2 6 ,1 9 7 . 7 6 ,7 5 9 ,5 2 3
Deduct —
F o r sinking- fu n d s . .......... ...................
3 ,4 1 0 ,2 0 3
3 ,2 1 7 ,5 7 8
D e p re cia tio n a n d reserve fu n d s _____
9 ,9 9 3 ,4 7 4
9,6 7 4 ,1 6 8
S p ecia l im p r o v e m ’ t an d r t p la c e m ’ t fd1 2,000,000
5 ,5 0 0 ,0 0 0
I n t e r e s t -------------- -------------_
1 1 ,3 4 8 ,0 0 0
1 1 ,4 5 9 ,8 3 3
A d d itio n a l p r o p ’t y , c o n s t r u c tio n , &c 3 3,00 0 ,0 i)0
23 500 ,0 0 0

$

5 3 ,3 3 1 ,0 1 2
3 ,0 2 0 .5 2 0
8 ,6 8 3 ,3 5 3

1,(100,000

1 1 .567,213
1 0 ,800,000

T o t a l d e d u c t io n s ......................................
B a l a n c e --------------------------------------- ---------- 2 4 ,8 7 4 ,5 2 0
Dividends un Stocks —
P r e fe r re d , 3 Hs % — -----------------------------. 1 2 .6 0 9 ,8 3 8
C o m m o n , 1 % ........................... ...................

53 ,3 5 1 ,5 7 9
2 3 ,4 0 7 ,9 4 4

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

12,6 0 9 .8 3 8
5 ,0 8 3 ,0 2 6

12,600,838

T o ta l d i v i d e n d s - . .................................... 17,6 9 2 ,8 6 4
U n d iv id e d earn in gs fo r h a lf-y e a r ____
7 ,1 8 1 ,6 5 6
— V , 85, p . 227.

1 7 .692,864
5 ,7 1 5 ,0 8 0

12.609.83K
■>,6-14 ,08S




27T

THE CHRONICLE.

3 1907.1

American Tobacco Company.

(Statistics from Petition Filed in U. S. Government Suit.)
The petition of the United States of America in its suit
recently filed in the Circuit Court of the United States for
the Southern District of New York against the American
Tobacco Co. and others, for alleged violation of the Sherman
Anti-Trust Act , makes a pamphlet of 135 pages, containing
a large amount of information never before published
regarding the status of the company and its subsidiaries.
In the following we have compiled the leading data:
DEFENDANT CORPORATIONS— A M . TOBACCO CO. AN D COMPANIES
CONTROLLED IN ITS INTEREST.
tm.m
■Stock Issued-------- —*-------- Stock Control— ----Common.
Pre/erred.
Preferred.
Acq’d by

♦American Tob.Co.
(.parent eo.) ...$ 4 0 ,2 4 2 ,4 0 0 S78.689.100
* Bi it .-A m .T o b .Co.
- £6,000,000—

i £2,000,000
tinp’lio b .C o .
1 £4.000.000
Am . Tob. Co.
Imperial Tob. Co.
— £18,000.000—
Am. Tob. Co. “ a large stockholder.’ ,
♦ A m .SnufR N .J.). 12,500,000 *12,500,000 j $4.040 600 $1,375,300 Am. T ob . C o.
I 3.459.400
1.124.700 P.LoriilnrdCo.
*Am . Cigar (N .J.) 10,000,000 10,000,000
8,970.000
7.725.100 Am . Tob. Co.
♦Am. Stogie (N .J.) 11,000.000
855,000
— ¥8,000,000—
Am, CignrCo.
♦ H a v .T o b .(N .J .)_ 29.791,200
Majority do
do
4.703.720
♦H av.-Am . (N .J.)
250,000
S3,000,000 $1,581,300 Am . Tob. Co,
P.Lorlllard (N.J.)
3.000,000
2.000,000
R. J. Reynolds
do
Tob. (N. J.)
7.525,000
5,000,000 ____ ______
do
Spaulding
Mer­
rick (N. J . ) . . .
All
100,000
do
do
R. A. Patterson
Tob. (V a.) . . .
do
do
150,000
All
♦Blackwell’s Dur.
Tob. (N. J.) .
1.000.000
All
do
do
do
♦S. Anargyros(N Y)
450,000
All
do
♦Mon.Tob.W ks(NY)
do
All
do
40,000
Luhrman & YVilbern
............. ..
do
do
T o b .(V .J .) . . . _
902,000
800.000
J.BoIlm an(N .J.)
_____
do
do
200,000
Majority
do
F. F. Adam sTob(W is) 400.000
......
do
All
.1. W .CarrollTob (NJ) 4 IS,000
. . . A m . Tob. c,».
All
Nall <fc Williams
do
Tob. (K y .). __
_________
do
116.000
All
Nash. Tob. W ks(Tenn) 120.000 .
All
do d o
D a y «tN ig h tT o b (O )
All
do
do
400,000
Pin kertonTob. (O)
do
100,000
66,600
i
R. P. Richardson
Jr.A:Co. (N .J .).
300.000
Control
________
do d o
F . R . PennTob. (N .C.) 262,500
............. .. B l.D ur.T ob.
Control
\\ ells, Whitehead
Tob. (N. C .).....
All
_________
do
do
150,000
U ipfert-Scales (NC) 400,000
_____ R .J .R ey .T ob .
M ajority
W. S. Mathews <t
'B rit.- Am.CO.
Sons (NT. J . ) __
_ Am. SnutTCo.
400.000
Majority
T.C.W iiliam s(Va.)
_______ B rit.-Am . Co.
400,000
Majority
1). Dunlop (N .J .).
do
Majority
do
450,000
\\ .F..G arrett&S(Pa) 000,000
All
. . . . . . . Am. Snuff Co.
D eVoe Snuff (N .J.)
All
. . . ___
do
do
50,000
Standard Snuff (Tenn) 281,600
All
________
do
do
H. Bolander (111.)
____. . . .
do
do
135.000
Majority
W evman A- Bro. (NJ)
All
________
do
do
500,000
(
•>
♦Porto Rican-Am .Tob.
( N .J .) .
1.799,(100
....
Am.CigarCo.
657,600
Onited CigarSt(NJ)
900.000
All
Am . Tob. C o'
750,000
600,000
♦ K v .T o b .P ro .(K v ) 1.000.000
♦Am ster.Supoly(NJ) 225.000
N ot stated
Various co ’s. i
♦MacAndrews & Forbes
(licorice) (N J ) _ 3,000.000
4,000,000
750.000 Am . Tob. Co.
2,112.900
•I. S. Young (Me.)
.
..
M acA.ifcF.Co.
300.000
500,000 Mai. voting
Conley Foil (N .J.)
375,000
_________ Am . T ob . Co.
225,000
________ Conley F. Co.
.1o hnstonTinF. <&M.
300,000
All
♦Golden Belt Mfg.
(N .,!.), mfrs. tob.
bags.<fee. in NT.C.
Am. Tob. C o.
700.000
650.000
♦Meneel B ox (K y )
1.973.200
1 .500,000
do
do
♦Manhat. Br.Pipe.
do
350.000
350,000
do
i 3.366,700
♦Int. Cigar Ma­
___ ___
do
do
chinery (N. J .). 10.000,000
i 2.920.000
...
A m .C iga rC o;
♦Carson \ ending
Machine (N. J.)
25,000
50.000
. . . . . . . . \m. Tob. Co
Crescent Cigar &
Tob. Co. (I.af).
All
_________
do
do
20,000
9
♦Florodora Tag
10.000
.. -mm
♦Tlios. Cusack (NJ)
150,000
100,000
MOO ,000
________
do
do
M. B laskow er (Ne v)
250,000
— $375,000—
Am, Cigar Co.
250.000
R . D . BurnettCigar(A la) 15,000
________
do
7,700
do
Cl.W eilCigar(Va.)
50,000
25.500
do do
Corp.J &BM oos (N J)
do
150,000
100.000 _____ . .
do
J.A-B.M oos(NJ) _
All
200,000
..............
do
do
Dusel Ooodloe <t
Co. (N .J .)_____
72,000
51,000
.............
do d o
J .J.( '.oodmmToh. (Ga l 60,000
do
do
47,700
Jordan, Gibson &
Baum (T enn.).
42.500
.............
do do
50,000
Louisiana Tob. (La.)
_________
do
50,000
37,550
do
♦Smokers' Par.(NJ)
................
do
75,000
59,900
do
♦Cuban Land &
Leaf (N. J .).
100,000
All
________
do
do
♦ Porto Rican Leaf
Tob. (N. J . ) . .. .
. . . . . __
do
do
500,000
250,000
♦Federal Cisar( Pa.) n250.000
200,000 ................
do
do
♦Federal Cigar Real
1
E state................
30,000
All
...........
do do
* Offices at 111 5th A v., N. Y . C lt y .V « Also"g:ven as 8200 000. b Carries entire
voting power. ?/ American Snuff Co. also lias $500.1)00 of the stock, z The Ameri­
can Tob. Co. is stated to own $10,000,000, but this can hardly be correct unless the
amount is additional to the $10,000,000 shown as outstanding, for at least a portion
of the latter issue is held b y the public.

RONDS AND NOTES REPORTED OUTSTANDING B Y ABOVE COMPANIES
DECEMBER 31 1906.
American Tobacco Co. b o n d s ._______ __________ _________ ______ ____ .$16,260,450
American Cigar Co. notes (American Tobacco Co. m ay ov.-n part— see
"z" a b o v e ).................... ........................................................ .............................. 10.000,000
Imperial Tobacco Co. bonds _______
___
______________
..
£2.065,000
Havana Tobacco C o ., notes (American Cigar Co. owns $ 3,500,000). ____ $7,500,000
__
...
..
100.000
Johnston Tin Poll C o ., bonds. _.
...
....
United Clear Stores bonds (American Tobacco Co. owns a l l ) . ...............
2,850,000

ACQUISITIONS BY

AMERICAN TOBACCO CO .1 !$D CONSIDERATION
THEREFOR.

Company.
Merged in Jan. 1890—

— Consideration--------------

Com. Stock . I'rej. Stk. Cash.

Total.

$
S
S
S
Allen * G Inter. Richm ond. Va 4,500.000 3,000,000 _____ . 7,500,000]
W Duke Sons & Co. Durham,
N. C ., and New Vork C ity__ 4,500.000 3.000.000
. . . 7,500.0001
Kinney T ob acco C o.N .Y .C ity 3,000.000 :.’ ,000.000
. . 5 000 .000 v
W .S.Kimball&Co. ,Roch. ,N .Y _ 1,500.000 1.000.000
. . . 2.500.000)
(Goodwin & Co , B rooklyn, NT. Y. 1,500,000 1.000.000
. . . 2,500.000
Acquired in 1891—
/N ational r o b . W ks., Louisville 800,000
400.000 600,000 1.800.000
Philip W hitlock, Richm ond, Va. ______
.......
300.000
Marburg B ros.. Baltimore, Md 1.845.000 1.230.000 164.638 3.239,638
G. W (Jail & A v . B alt., Md . 1.055,000
705.000 77,583 1,837,583
Acquired in 1892 to 1899—
S. Hem sheim Bros. &Co. ,N . Orl. 150,000
100.000 269.961
519.961
zJas. G. Butler T ob. C o .. St.. 1.
273.000
192.000
2,919
467.919
a l nion Tob Co.. N. Y. C it y ..12,500,000
_____ _
12.500,000

I'lanl
Operated.

Original
nucleus
As bra n ch
As branch
\s branch
Abandoned
Closed
Closed
Dissolved

278

THE CHRONICLE.

OTHER A C Q U IS IT IO N S OF A M E R IC A N TOBACCO CO., 1895 TO 1907, A N D
A M O U N T ( " V cash) P A I D TH ER EFOR .
.Plants all closed except those form erly owned b y Herman Ellis, Catlin T o b , Co..
W , R . Irley, Gradle & Strotz and F. W . Feigner & S on Co.; also M onopol T o b ,
W orks and Luhrman & W ilbern, whose organizations are m aintained.:
Year.
Company.
Consideration. \Year.
Company.
Consideration.
1895 Consol.CigaretteCo..N .Y. ?/$288,485 ' 1899 (/John Conley & Son,
1B95 H ermanEilis, B altim ore. y 147,206!
New Y ork C it y ...........N ot stated
1895 Thos. H . H a ll, N Y . City 2/549,165 1899 F . W. Feigner & Son C o.,
1895 H. W. Meyer T ob . Mfg.
I
Baltimore .................. .. 2/433,745
C o., New Y ork C it y .. 2/351,916 11899 eBlackw eil'sDurham T ob.
1896 A . H . M otley C o.. R eids!
C o., Durham , N. C ...?/4 ,0 0 0 ,0 0 0
vile, N . C____________
2/24,000 i 1899 Beck & C o., Chicago, Til.
322,296
J897 Am .E agleT ob.C o..D etroit 2/60,000 j 1900 F . S. Anargyros, N. Y _ . 2/680.000
1898 Herman M andelbaum,
! 1900 John Bollm an C o., San
New Y ork C ity_______
2/26,000 1
F ra n cisco................. . .N o t stated
1898 zBrow n Tob. Co., St. L_:;a1 ,205,712 11901 Rosenblum & Lehman*
New Y ork C ity____
32,587
1898 arDrumtnond Tob. Co.,
St. Louis_____________ 2/3,457,500 1901 C. V. W infree T ob . Co.
Lynchburg
14 301
3899 Catlin Tob. C o., St. Louis 2/550,707
1899 M onopol T ob. W k s.,N .Y . ^250.000 1901 D . H. McAlpin & C o.,
New Y ork C ity_______
1899 W . R . Irley T o b . C o.,
L td ., New Orleans___ 2/625,000 1903 R . F. Morris & Son Mfg.
35,000
Co., Durham, N. C . .
1899 Luhrman & W libern,
375,000
Middletown. O ..............
918,000 1903 T. C. W illiams, H ichm 'd.
1899 Banner Tob. C o., D etroit
2/50,000 1904 Bland Tob. C o., Peters­
burg, V a _____________
86,425
1899 M lucabado & P ortela,'
424,500
San Juan......... .............N ot stated 1905 W eynian & Bros._, C h ic ..
108,95111905 B. Leidersdorf ‘ <fc Co.,
1899 M. S. Pach olderC o.,B alt
600,000
M ilw au kee___________
1899 Golden Belt Mfg. Co.
249,194
North Carolina_____ y N ot stated ! 1907 Leopold Miller & S o n s ..
1899 Gradle & Strotz, Chicago 2/8186,162 i
a This com pany owned, am ong other things, all the $1,000,000 capital stock of
the Blackwell's Durham T ob acco Co.
6 The property of the Rucabado & Portela, acquired as above, was transferred
to the P orto Rican-Am erican Tobacco Co.
4 The property of John Conley & Son was transferred to the Conley F oil C o..
organized in New Jersey with capital stock of $250,000, later increased to $375,000,
o l which $225,000 is owned b y the American Tobacco Co.
e The property of the Blackw ell's Durham Tob.C o. of N. C. was transferred to a
corporation organized under the same name in New Jersey, with a capital stock of
$1,000,000; this new com pany in 1902 acquired the stock of the Reynolds Tob. Co.,
Bristol, Tenn., whose plant was closed, and the com pany liquidated; in 1903 they
purchased $262,500 of the stock of the F. R. Penn Tobacco C o., Reidsville, N. C.,
and all the stock of the W ells-W hitehead T ob . C o., W ilson, N. C.
x In or about 1901 the American T obacco Co. transferred to the Continental T o ­
bacco Co. (which has since been merged with it under title o f “ The Am erican T o ­
bacco Co.” ) the assets, brands, business, real estate, good-w ill, & c., appertaining to
its plug tobacco business, including the National Tobacco W orks, the Jam es G.
Butler Tobacco Co., Drumm ond Tobacco Co. and Brown Tobacco Co. in exchange
for $30 274,200 capital stock of the Continental Tobacco Co. (one-half preferred and
one-half com m on ), $300,000 cash and an additional sum equal to loss sustained b y
American Tobacco Co. in its plug business since Jan. 1 1898, $840,035. Prior to
Jan. 1891 the National Tobacco Works was owned b y the firm of Pftngst, D o e r Itoefer & Co.
A C Q U ISITIO N S B Y C O N T IN E N T A L TOBACCO CO. A N D C O N S ID E R A ­
TIO N TH ER EFO R .
Cash.
Total.
Cum. Slock. Pref. Slock.
ttf
Company.
$
$
“ Merged in 1898—
$
$
224,375 9,099,375
V . J. 8org C o ., M iddletown, O _______ 4,525,000
4,350,000
55,000 5,355,000
John Finzer * B ro s ., Louisville, K y _ . 3,050,000
2,250,000
4,923,600
Daniel Scotten * Co, Detroit. M ic h .. 3,012,500
1,911,100
66,125 3,241,125
P. H. Mayo & Bros., R ichm ond, V a .. 1,925,000
1,250,000
994,117
J. Wright C o., Richm ond, V a _______
495,000
495,000
4,117
aPlug tobacco business of A m .T o b .C o .15,137,100 15,137,100 1,140,035 31,414,235
Acquired in 1 8 9 9 400,000
Bowers Snuff & T ob. C o., L ou isville ..
200,000
200,000
30.000,000
Liggett & Myers Tob. C o., St. L o u is ..17,5 00,000 12,500,000
OTH ER A C Q U IS IT IO N S B Y C O N T IN E N T A L

TOBACCO

CO.

Plants all closed except plant of Mengel B o x C o ., whose organization is maintained.)
Acquired in 1901 (Conti)— Consider n.
Acquired in 1899—
Consideration.
W right Bros. T ob . C o.,St.L ouis $132,001 M. C. W etm o re T o b . Co.. St. L . $578,430
Wilson & McCally Tob. Co.,
eC. C. Mengel Jr. Bros. & Co.
Middletown, O ...................... .. 361,900
Louisville K y _____ ________ N ot stated
Acquired in 1902—
<fLouisv. Spirit-Cured T ob . C o .
______
F . F. Adam s Tob. C o., M ilw ..2,205.090
eR. J. Reynolds T o b a cco Co.,
W inston-Salem, N . C ______N ot stated S pa uld ing* M errick, C h ica g o .. 1,362,900
Acquired in 1903-04—
Buchanan & Lyall. B k ly n .N .Y .2,400.000
Butler & Bosher Co., Richm ond 208,055
Acquired in 1900—
mice & Vaughan, L ou isv., K y . .
80,285 Harry Weissinger T ob . C o.,
Louisville, K y . .........................1,179,150
Acquired in 1901—
69,843
W ellman Dwire Tob. Co. St. L . 583,027 Manuf’ rs’ T ob . Co., Louisville.
Meriwether Snuff & T ob . Co.,
S. W . Venable T ob acco Co. of
Clarksville, T e n n ............... ......
5,063
Petersburg, V a _____________
117,019
Addison Tinsley T ob acco C o.,
Louisiana, M o_______________ 110.467
a Includes the National Tobacco Co., James G. Butler T ob acco C o., Drummond
T ob acco Co. and Brown T ob acco Co.; the cash consideration, $1,140,035, includes
$840,035 to cover loss of Am. T ob . Co. ir> its plug business since Jan. 1 1898.
b O f the American T ob acco Co.
c The property of Mengel .Jr. Bros. & Co. acquired as above was transferred to
the Mengel B ox Co. This com pany has acquired the capital stock ($150,000) of
the Columbia B ox Co. and of the Tyler B ox Co. ($25,000), both of St. Louis.
d The property o f the Louisville Spirit-Cured T ob . C o., acquired as above, was
transferred to the K entucky Tobacco Product Co.
eT h e property o f the Reynolds T ob . C o., acquired as above, was transferred to a
corporation with the same name organized in New Jersey: capital stock o f $5,000,000,
subsequently increased to $7,525,000. This new com pany later purchased the busi­
ness of the following concerns: 1900— T. L. V a u gh an * C o ., consideration $90,506;
Brown Bros. & C o.. consideration $67,615, and P. H . & B . F. Hanes * C o., con­
sideration $671,950; all of W inston, N. C. 1905— Rucker & W itten T ob acco C o.,
Martinsville, Va.. consideration $512,898. 1906— D . H . Spencer & C o., Martinville, Va., consideration $314,255. All of the above plants were imm ediately
closed. The R . J. R eynolds Tobacco Co. also holds a m ajority of the $400,000 stock
In the Liipfert Scales Co. of W'inston, N. C.; $98,300 stock of the MacAndrews &
Forbes Co. and $9,600 o f the Amsterdam Supply Co.
A C Q U IS IT IO N S O F A M E R IC A N S N U F F CO.
The Atlantic Snuff Co. was incorporated in New Jersey in 1898 and took over,
With other property, the plant of Bruton <fc Condon, Nashville, Tenn., and all the
capital stock of W . E. Garrett & Sons Philadelpliia, one of the principal domestic
snuff concerns. In 1900 the American T obacco C o., Continental T ob acco Co..
P. Lorillard Co. and Atlantic Snuff Co. agreed to merge their snuff business under
title of American Snuff C o., with $25,000,000 authorized capital stock, of which
(,one-half preferred, the American T ob acco Co. and its allies, the Lorillard and the
'C ontinental, together receiving $7,500,000 com m on and $2,500 000 preferred.
-------------------- Con sideration.A cq u ired in March 1900—
Com. stock. Pref. slock.
Total.
$7,500,000 *$10,000,000
Atlantic Snuff C o................................................... .$2,500,000
1,124,700
4,584,100
P. Lorillard Co.’ s snuff b u s in e s s ......................... 3,459,400
1,177,800
4,405,300
American Tobacco C o.’s snuff business_______ 3,227,500
197,500
1 010,600
Continental Tobacco C o.'s snuff business_____
813,100
G .W . Helme Co.,H elm etta, N.J. (organm aint) 1,000,000
2,000,000
3,000,000
Other Acquisitions ol American Snuff Co. -Plants Closed.
Consideration.
'Tear—
Consideration. |Year—
190 0.Stewart-Ralph Snuff C o ..
! 1 9 0 4 ..S .B .H ollow ay C o .,K y ..
$24,215
Clarksville. Tenn___ Not statedi 1 9 0 4 ..Meriwether Snuff & T o 1901—_Dalmer & C o., Pitts. .N o t stated I
bacco C o., Clarksville.
41,254
1 9 0 1 ..DH M cAIpin&Co.Bklyn.Not, stated 11905(1-W eym an& B ro.Pitts,Pa 1,577,177
1 9 0 2 .-StewartSnCo,Clarks,Tenn $63,5181— —
Acquired since Jan. 1 1906.
1902. .McNamarn-Laird C o ., Ala 13.489 !J H Fye Co, Clarksburg, W V a .
$8,000
1902— Indep Snuff Mills Co, V a.
16,741 ISun T ob Co, Clarksburg, W V a .
2,610
1 9 0 2 ..Dental_Snuff Co, V a ____N ot stated |R Starr&Co, B a ltim ore, M d___
92,640
1903. _R F Morris & SonsMfgCo.
4,813|Arnd Bros, Baltim ore, M d ... . .
20,000
1903— W LVenable& Cc.Pet’g.Va
5,900 I
Other Acquisitions of American Snuff Co— Organisations Preserved.
Y ear—
Consideration.] Year—
Consideration.
1 9 0 1 ..D ev oe Sn Co. Spotts’ N J .$ l0 1 ,0 1 2 I1 9 0 4 ..H Bollander, C h ic a g o ... $138,045
1I903--Skinner C o______ _____ _
2 3 ,2 6 7 1 1 9 0 3 ..Standard Snuff C o____ N ot stated




[V o l .

lxxxv

.

Am ong other assets the American Snuff C o ., it is stated, owns $1 .OSO.OOO preferred
stock and $100,000 bonds of the American Tobacco Co.; $500,000 in American Cigar
Co. and 8181,800 in W . S. Mathews & Sons.
a W eym an & Bro. was reorganized under the same name with a capital stock of
$500,000, all owned b y the Am erican Snuff Co. This plant was rem oved to Chicago,
A C Q U IS IT IO N S OF A M E R IC A N CIGAR C O M P A N Y .
The com pany was incorporated in 1901 with $10,000,000 capital stock— after­
wards increased to $20,000,000— Ihe American Tobacco Co. subscribing for 4(j'A %
and its ally, the Continental T ob acco Co , for the same am ount. “ The American
T ob acco now holds o f the com m on stock $7,725,100 and o f the perferred $8,970,000.
arid also $10,000,000 in notes." (A considerable am ount of notes is known to have
been sold and we question whether the Am erican com pany holds any such am ount
of the notes as here stated.— Ed.]
Acquired in 1901—
Consideration. | Acquired in 1901—
Consideration
^Havana-American C o..............$4,000,0001Brown Bros & Co, Detroit, Mich.$469,272
Poweii, Smith &Co, N Y _____ 2,130,6641 Acquired in other years—
S. L evy & Co, Passaic, N J . . .
11,78911902. .R o th , Bruner&Feist.Cin. .$225,471
Barlow ,R ogers & C o,Birm ,N Y.
305,68111903. .PhilippiCigC o,Philippi,V a
4,203
H um mel, Vogt Co., Louisville.
42,428| 190 3..U n itedC ig S tores,N Y fac. 54,141
aAmer Tob Co cigar, &c, i n t .. 3,909.952 1 9 0 5 -.A m CigM achCo.Portl,M e. ---------Bingham tonCiuar C o., N Y City
1,000 J1906. _ M W M endel& B ro,N Y C .. 643,482
c Harburger, Homan & C o____ 1,311,0001
a The Am erican Tobacco Co. conveyed all its business o f manufacturing cheroots,
cigars and stogies weighing more than 3 lbs. to the thousand, and of dealing and dis­
tributing the same throughout the w orld, to the American Cigar Co.
b The ilavana-Am erican Co. acquired as above was transferred to the H avana
Tobacco Co. in 1902 under the laws of New Jersey, with $34,500,000 stock (of which
the American Cigar Co. holds a controlling interest) and a bonded debt of $7,500,000,
$3,500,000 o f the said amount being held b y the American Clear Co.
c Factories in New Y ork , Philadelphia, Camden, Trenton and Baltimore.
Am ong other assets the American Cigar Co. owns the stock specified in the follow ­
ing corporations; American Stogie C o., $7,307,275 out of a total issue of $11.855,000
International Machinery C o., $2,920,200 out of total issue oj $10,000,000; Porto
Rican-Am erican Tobacco Co., $657,600 out of $1,999,000. For other assets see
first table above, shewing the defendant companies.
mi
T h e A m e r ica n S to g ie C o .

-•*«

T h e d e fe n d a n ts in M a y 1903 cau sed t o be in c o rp o ra te d u n d er th e law s o f
N e w J e rse y th e A m e r ic a n S to g ie C o. (V . 76, p . 1145; V . 77, p . 148; V . 8 0 ,
p . 2 4 0 0 ), w ith an au th o riz e d c a p ita l o f 8 1 1 ,9 7 6 ,0 0 0 .
D e fe n d a n ts , th e
A m e r ic a n C igar C o ., th e A m e r ic a n T o b a c c o C o. an d th e C o n tin e n ta l T o ­
b a c c o C o ., c o n v e y e d t o th e A m e r ic a n S to g ie C o. im m e d ia te ly a fter its in ­
c o r p o r a t io n in e x c h a n g e fo r $ 8 ,2 0 6 ,2 7 5 o f its s t o c k th e ir sto g ie and t o b ie
b u sin ess, to g e th e r w ith th e p la n ts , p r o p e r t y a n d rig h ts c o n n e c t e d th e re w ith ;
an d agreed th a t th e y w o u ld n o t at a n y tim e w ith in fift y years d ir e ctly o r
In d ire ctly a d v e rtis e o r la b e l a n y a rticle m a n u fa c tu r e d o r sold b y th em as
sto g ie s o r t o b ie s in c o m p e t it io n w ith th e c o n v e y e e c o m p a n y o r th e U n ite d
S ta te s C igar C o .
In e x c h a n g e fo r $ 3 ,6 4 7 ,7 2 5 o f its s t o c k , d u rin g 1903 th e
A m e r ic a n S to g ie C o . a cq u ire d fr o m th e sev eral h o ld e rs all th e shares o f th e
U n ite d S tates C igar C o ., a D elaw are c o r p o r a t io n , an d th e rea fter t o o k fro m
rhe la tte r a c o n v e y a n c e o f all Its p la n ts a n d assets. T h e U n ited S tates
C ig ar C o . h a d a cq u ire d an d o w n e d th e e n tire c a p ita l s t o c k , $ 1 ,2 5 0 ,0 0 0 ,
o f th e W . W . S tew art C o ., a c o r p o r a t io n m a n u fa c tu r in g an d dea lin g in
s to g ie s , w h ich la tte r c o n tr o lle d th e p r o p e r t y and assets o f th e C ollin s C igar
C o ., a c o r p o r a tio n w ith ca p ita l o f $10 0 ,0 0 0 ; th e U n io n A m e rica n C igar C o .,
a c o r p o r a tio n w ith c a p it a l o f $60 ,0 0 0 ; an d also Z e u g s c h m ld t B roth ers,
W . W . B lak e an d M . B rills & C o. T h e A m e r ic a n S to g ie C o. ow n s all th e
ca p ita l s to c k o f th e A m e r ic a n S to g ie C o. o f P e n n s y lv a n ia an d also $ 1 ,500
s to c k o f th e A m s te r d a m S u p p ly C o.
T h e A m e r ic a n C igar C o . h o ld s an d o w n s $ 8 ,0 0 0 ,0 0 0 o f th e ca p ita l s t o c k
an d has a lw a y s s e le cte d th e b o a r d o f d ir e cto r s .
T h e re p o r t for th e y e a r
1906 sh ow s o u ts ta n d in g ca p ita l s to c k $ 1 1 ,8 5 5 ,0 0 0 , n et p rofits fo r th e y e a r ,
$ 7 0 ,0 4 1 .
T h e o u t p u t fo r 1906 w as a p p ro x im a te ly 100 ,0 0 0 ,0 0 0 sto g ie s
a n d to b ie s .
M a cA n d rew s & F orb es C o .— L ico rice C on solidation .
T h e p rin cip a l Im porters an d d o m e s tic m a n u fa c tu r e r s , sellers an d d is­
trib u te rs o f p a ste an d o th e r lico rice p r o d u c ts a m o n g th e S tates at th e b e ­
gin n in g o f 1902 w ere M a cA n d re w s & F o r b e s o f N e w a rk , N . J ., th e M ellor
& R itte n h o u s e C o . o f C a m d e n , N . J ., J . S. Y o u n g C o . o f B a ltim o re , M d .,
S ta m fo r d M a n u fa ctu rin g C o . o f S ta m fo r d , C o n n ., an d J oh n D . L ew is o f
P r o v id e n c e , R . I.
S m aller m a n u fa c tu r e r s , sellers and d istrib u ters w ere
Y o u n g & S m y lle , F . B . & V . P . S c u d d e r, an d W e a v e r & S terry , L im ite d ,
N e w Y o r k C ity .
T h e M ellor & R itte n h o u s e C o. w as co n tr o lle d b y th e
C o n tin e n ta l T o b a c c o C o. th ro u g h s t o c k o w n ersh ip .
In M a y 1902, d e fe n d a n ts , in pu rsu a n ce o f th eir general p u r p o s e s , th r o u g h
th e C on tin e n ta l T o b a c c o C o ., secu red c o n tr o l o f M a cA n d rew s & F o r b e s .
T h e re a fte r the# C o n tin e n ta l T o b a c c o C o ., th e M ellor & R itte n h o u s e C o.
an d M a cA n d re w s & F o r b e s agreed th a t a n e w c o r p o r a t io n , ca lled th e
M a cA n d re w s & F o r b e s C o ., sh o u ld b e org a n ize d u n d e r th e law s o f N ew
J e rse y an d a cq u ire th e businesses o f M a cA n d re w s & F o rb es an d th e M ellor
& R itte n h o u s e C o ., o f im p o rtin g lic o r ice r o o t and m a n u fa c tu r in g , sellin g
and d is trib u tin g lic o r ice p r o d u c t s . T h is ag reem en t w as carried o u t a n d
th e c o r p o r a tio n
o rg a n iz e d w ith a ca p ita l o f $ 7 ,0 0 0 ,0 0 0 , $ 4 ,0 0 0 ,0 0 0 p r e ­
ferred an d $ 3 ,0 0 0 ,0 0 0 c o m m o n , th e la tte r alon e h a v in g v o t in g p o w e r .
T h e C o n tin e n ta l T o b a c c o C o . secu red m o re th an tw o -th ird s o f th e c o m m o n
s to c k b y a g reein g t o p u rch a se fro m th e n e w c o r p o r a tio n all p a ste used b y It
d u r in g th e y e a r a t 7 M ce n ts p e r p o u n d .
T h e A m e r ic a n T o b a c c o C o. n o w
h o ld s $ 2 ,1 1 2 ,9 0 0 o f th e c o m m o n s to c k an d $ 7 5 0,00 0 p re ferred .
In Ju n e
1902 M a cA n d re w s & F o r b e s C o. p u rch a se d all th e business o f th e S ta m fo r d
M a n u fa ctu rin g C o v
In th e sam e y e a - d e fe n d a n ts an d th e M a cA n d re w s & F orb es C o. in c o r ­
p o r a te d th e N a tio n a l L ic o r ic e C o . (e v e r sin ce in a g reem en t w ith t h e m ),
w h ich a cq u ire d th e business o f Y o u n g & S m ylie an d F . B . & V . P . S cu d d e r,
m a n u fa ctu re rs o f lico rice p a s te , a n d th e v e n d o r s agreed t o g o o u t o f th e
business. T h e N a tio n a l L ic o r ic e C o. th e n agreed n o t t o m a n u fa ctu re
lic o r ice p a ste t o b e used In t o b a c c o p r o d u c ts
(V . 78, p . 106; V . 84, p . 5 4 .)
T h e re a fte r M a cA n d re w s & F o r b e s C o ., J . S. Y o u n g C o. o f B a ltim ore an d
Jobri D . L ew is o f P r o v id e n c e en tered Into a c o m b in a tio n and Induced th eir
o n ly c o m p e t it o r , W e a v e r & S te rry , L im ite d , o f N ew Y o r k C ity , t o establish
an d m ain tain a rb itra ry an d n o n -c o m p e t it iv e p rices.
In D e ce m b e r 1903
a n e w c o r p o r a t io n w as o r g a n iz e d , w ith th e n a m e J . S. Y o u n g C o m p a n y ,
a n d $80 0 ,0 0 0 c a p ita l, t o w h ich th e bu sin ess o f th e o ld Y o u n g c o m p a n y w as
tr a n s fe rr e d . A large m a jo r it y o f th e c o m m o n s t o c k , w h ich alon e had
v o t in g p o w e r , w as Issued t o t h e M a cA n d re w s & F o r b e s C o . In co n sid e r a tio n
o f its g u a ra n te e in g th e a n n u al sale o f 5 ,0 0 0 ,0 0 0 p o u n d s o f p a ste b y th e
Y ou n g com p an y.
In 1906 an In d ictm e n t w as fo u n d a g ain st th e M a cA n d re w s & F o r b e s C o.
a n d th e J. S. Y o u n g C o ., ch a r g in g th e m w ith v io la tin g th e A c t o f C on gress
p a sse d J u ly 2 189 0, a n d t h e y w e re tr ie d an d c o n v ic te d . A ft e r th e a b o v e m e n tio n e d in v e s tig a tio n began , th e M a cA n d re w s & F o r b e s C o. a cq u ired
all s to c k o f th e J . S. Y o u n g C o . and t o o k an a b s o lu te c o n v e y a n c e o f th e
la t te r ’s business an d p la n t and is n o w o p e r a tin g th e sam e as a b ra n ch .
I n th e w a y s a b o v e d e s crib e d , th e d e fe n d a n ts h a v e secu red c o m p le te c o n tr o l
o f lic o r ice ro o t an d n o w h a v e n o fo rm id a b le c o m p e t it o r in such tra d e an d
c o m m e r c e , an d o f th e 3 5 ,0 0 0 ,0 0 0 p o u n d s o f lic o r ice p r o d u c ts a n n u a lly c o n ­
su m ed w ith in th e U n ite d States, th e y m a n u fa c tu r e , sell an d d istrib u te e x ­
c e e d in g 95 % , an d th e ir im p o rta tio n o f lic o r ice r o o t co n s titu te s e v en a larger
p e r c e n ta g e o f th e w h o le .
United C iga r Stores C o m p a n y .
In N o v e m b e r 1901 d e fe n d a n ts a cq u ire d c o n t r o l o f th e U n ite d C igar Stores
C o . (see V . 85, p . 103 , an d earlier referen ces t o ' ‘ C h ro n ic le .” — E d .) , a N ew
J ersey c o r p o r a tio n org a n ize d in M a y 1901, an d e n g a g e d in selling an d
d is tr ib u tin g t o b a c c o p r o d u c t s o f all k in d s th r o u g h o u t th e U n ited S ta tes,
e s p e c ia lly a t retail.
T h e A m e r ic a n T o b a c c o C o . h o ld s $60 0 ,0 0 0 o f th e
$ 9 0 0 ,0 0 0 c o m m o n s t o c k , all th e p re fe rre d s t o c k ($ 7 5 0 ,0 0 0 ), an d $ 2 ,8 5 0 ,0 0 0
o f th e c o m p a n y ’ s b o n d s .
T h e U n it e d C igar S tores C o. has a cq u ire d in v a rio u s w a y s th e business
o f m a n y retailers and n o w op e ra te s cig a r stores In N ew J ers ey , N ew Y o r k ,
P e n n s y lv a n ia , O h io , M a r y la n d , W a s h in g t o n , D . C ., C o n n e c tic u t, C a liforn ia
W a s h in g to n , D e la w a re , O re g o n , T e x a s , M a ssach u setts, R h o d e Isla n d ,
Illin o is, M in n e so ta , M ich igan , In d ia n a , M issouri, W is c o n s in , K e n tu c k y
a n d o t h e r S ta te s .
I t b u y s t o b a c c o p r o d u c ts and su p p lies o f all kin d s in
th e d iffe r e n t S ta te s , ships th e m t o its d e p o t s in N e w Y o r k C it y , C h ica g o
a n d San F r a n cis c o , and su b s e q u e n tly d is trib u te s th em a m o n g Its stores in
d iffe r e n t S ta te s .
U n d e r d ir e ctio n o f th e A m e r ic a n T o b a c c o C o ., th e U n ited
C ig ar S to re s C o. p r o m o te s th e sale o f t o b a c c o p r o d u c ts m a n u fa ctu re d b y
d e fe n d a n ts and h in d e rs and o b s tr u c ts th e sale o f p r o d u c t s o f in d ep en d en ts.
It has at t r e m e n d o u s c o s t set u p retail sto re s at p r o m in e n t p la ces In v a riou s
citie s , and b y m e a n s o f th e p o w e r fu l s u p p o r t o f d e fe n d a n ts Is seeking t o
a cq u ire c o n t r o l o f th e retail business.

A u g . 3 1907.]

T h e U n ite d C igar S tores C o ., th r o u g h s to c k o w n e rsh ip , c o n tr o ls th e
fo llo w in g c o m p a n ie s e n g a g e d in selling t o b a c c o p r o d u c ts : U n ite d C igar
S tores C o . o f C h ic a g o , 111., ca p ita l o u ts ta n d in g $38 9 ,8 0 0 : U n ite d Cigar
S tores C o. o f P r o v id e n c e , R . I . , c a p ita l o u ts ta n d in g $98 ,0 0 0 ; R o y a l C o.
o f N ew Y o r k C ity , c a p ita l o u ts ta n d in g $ 1 0 0 ,0 0 0 : C. A . W h e la n & C o ., I n c .,
o f S y ra cu se, N . Y . , c a p ita l o u ts ta n d in g $ 5 0 ,0 0 0 ; U n ite d C igar Stores C o .,
a g e n c y , o f N e w Y o r k , c a p ita l o u ts ta n d in g , $ 1 ,0 0 0 ; U n ite d M e rch a n ts’
R e a lt y & Im p r o v e m e n t C o. o f R h o d e Is la n d , ca p ita l o u ts ta n d in g $50 0 ,0 0 0 ;
M oeb s C igar S tores C o. o f D e tr o it , M ic h ., c a p ita l o u ts ta n d in g $10 ,0 0 0 ;
W m . B a ed er & C o ., N e w Y o r k , ca p ita l o u ts ta n d in g $ 2 5 ,0 0 0 .
Other A s sets o f the A m erica n Tobacco C o.
A m e r ic a n M ach in e & F o u n d r y C o .— C a p ital s t o c k $ 1 0 0 ,0 0 0 ; h o ld in g s o f
A m e r ic a n T o b a c c o C o . $51 ,0 0 0 ; A m e r ic a n C igar C o . h o ld s th e b a la n c e ,
$ 4 9 ,0 0 0 .
M a n u fa ctu re s m a ch in e ry fo r th e be n e fit o f d e fe n d a n ts . T h e
N ew J ersey M ach in e C o ., w ith $10 0 ,0 0 0 c a p ita l, o f w h ich th e A m e rica n
T o b a c c o C o. ow n s $ 5 1 ,0 0 0 an d th e A m e rica n C igar C o. $ 4 9 ,0 0 0 , is an a d ­
ju n c t t o th e A m e r ic a n M a ch in e & F o u n d r y C o.
In te r n a tio n a l C igar M a ch in e ry C o .— O rga n ized In 1901 u n d e r c o n tr a c t
b e tw e e n th e A m e r ic a n T o b a c c o C o . an d o w n ers o f p a te n ts fo r th e m a n u ­
fa c tu re o f cig a r m a ch in e s p r o v id in g th a t these p a te n ts sh o u ld b e tra n s­
ferred t o th e n ew c o r p o r a tio n . C a p ital s to c k $ 1 0 ,0 0 0 ,0 0 0 , o f w h ich th e
A m e r ic a n T o b a c c o C o. ow n s $ 3 ,3 6 6 ,7 0 0 , fo r w h ich lt p a id cash $ 1 ,0 7 7 ,9 0 6
a n d in a d d itio n e x e c u te d c o n tr a c ts r e la tiv e t o s o m e o f its o w n In ven tion s.
T h e A m e r ic a n C igar C o. o w n s $ 2 ,9 2 0 ,2 0 0 .
(V . 72, p . 186.)
A c k e r , M errall & C o n d it C o .— T h e A m e r ic a n T o b a c c o C o. ow n s $90 0,00 0
o u t o f a to t a l Issue o f $ 5 ,0 0 0 ,0 0 0 c o m m o n s t o c k .
T h e c o m p a n y w as o r ­
g an ized t o d o a general g r o c e r y business and Is a large d is trib u te r o f cig ars.
S ta n d a rd T o b a c c o S te m m e r C o .— F o rm e d fo r e x p lo itin g p a te n ts fo r
ste m m in g lea f t o b a c c o .
In 1899 and th e re a fte r th e A m e rica n T o b a c c o C o.
a cq u ire d $ 1 ,6 8 4 ,5 0 0 o f its c a p ita l s t o c k at a c o s t o f $64,995 76.
Im p eria l T obacco C o .— B ritish -A m erica n T obacco C o.
D e fe n d a n ts p r io r t o 1902 d e te rm in e d t o pu sh th e sale In th e U n ite d
K in g d o m o f t o b a c c o p r o d u c ts m a n u fa c tu r e d b y th em in th e U n ite d S ta te s,
a n d t o fa c ilita te th a t p u r p o s e in S e p t. 1901 p u rch a se d fo r $ 1 ,5 0 0 ,0 0 0 c o n tr o l
o f a L iv e r p o o l c o r p o r a tio n k n o w n as O g d e n s , L im ite d .
A la rm e d at th e
in v a sio n o f th e ir t e r r ito r y , E n g lish m a n u fa ctu re rs an d dealers c o n tr o llin g
th e m a jo r p o r t io n o f th e tra d e in c o rp o ra te d d e fe n d a n t, th e Im p erial T o b a c c o
C o. o f G reat B ritain an d Ire la n d , w ith a c a p ita l s to c k o f £ 1 5 ,0 0 0 ,0 0 0
(a fterw a rd s Increased t o £ 1 8 ,0 0 0 ,0 0 0 ), an d in e x ch a n g e fo r Its s to c k s e v ­
e r a lly c o n v e y e d th e r e to th e ir business an d pla n ts.
B etw een th e Im p erial T o b a c c o C o. an d th e A m e r ic a n c o m p a n ie s in c o n ­
ju n c t io n w ith O g d en s, L im ite d , d u rin g th e re m a in d e r o f 1901 an d a p a r t
o f 1902 th ere w as fierce co m m e rcia l c o n flic t, th e fo rm e r o ffe rin g t o g iv e
large bon u ses t o d ealers w h o w o u ld h a n d le th eir g o o d s e x c lu s iv e ly , an d th e
la tte r a greein g t o d is trib u te t o Its B ritish c u sto m e rs d u rin g each o f th e
fo u r s u cce e d in g years all p r o fits , an d in a d d itio n th e re to £ 2 0 0 ,0 0 0 .
D u rin g
1902 th e Im p eria l T o b a c c o C o. r e s o lv e d t o u n d e rta k e th e m a n u fa ctu re o f
t o b a c c o p r o d u c t s w ith in th e U n ite d S tates an d b e g a n th e n ecessary p r e ­
lim in aries th e r e fo r .
S u b s e q u e n tly d e fe n d a n ts d e te rm in e d t o en d th e o b ­
n o x io u s c o m p e t it io n a n d o n S e p t. 27 1902 en te re d Into t w o w ritte n a g re e ­
m en ts [cop ies o f w h ic h are a tta c h e d t o th e p r in te d p e t itio n — E d .], w h e r e b y
th e y stip u la te d ;
(1) T h e Im p eria l T o b a c c o C o . sh o u ld lim it its business t o th e U n ite d
K in g d o m , an d esp e c ia lly sh o u ld refrain fro m c a rry in g on t h e sam e w ith in
th e U n ited S ta te s, e x c e p t t o sell t o th e o th e r d e fe n d a n ts an d t o b u y and
t r e a t le a f t o b a c c o fo r its o w n u ses, an d sh ou ld ta k e o v e r th e p la n t a n d
business (e x c e p t ex p o r t) o f O g d e n s, L im ite d , an d th e assets o f th e A m e rica n
c o m p a n ie s In G reat B rita in in e x c h a n g e fo r s to c k .
(2) T h e A m erica n co m p a n ie s sh o u ld lim it th e ir business an d o p e ra tio n s
t o th e U n ited S ta tes, Its d e p e n d e n cie s an d C u b a , a n d e sp e c ia lly th a t th e y
s h o u ld refrain fro m c a r r y in g o n th e sam e w lth ia th e U n ite d K in g d o m —■
e x c e p t sellin g t o th e Im p e ria l C o .—-and o th e r parts o f th e w o rld .
(3) T h e B ritis h -A m e rica n C o., L im ite d , s h o u ld be In co rp o ra te d u n d e r the
E n glish law w ith a ca p ita l o f £ 6 ,0 0 0 ,0 0 0 , t o b e a p p o rtio n e d o n e -th ir d t o
th e Im p eria l T o b a c c o C o. an d tw o -th ird s t o th e A m e r ic a n co m p a n ie s ,
and t h a t th e o th e r c o n t r a c tin g c o m p a n ie s sh ou ld c o n v e y to lt, t o g e th e r
w ith all assets u sed In c o n n e c tio n th e re w ith , th e ir “ e x p o r t b u s in e s s ,”
m ea n in g th e re b y th e m a n u fa c tu r e o f t o b a c c o t o b e used o u ts id e o f th e U n ited
K in g d o m an d th e U n ite d S tates, and d e a lin g in th e sam e w ith in such te rri­
tory.
T h a t a n y o n e o f th e p a rtie s m ig h t m a n u fa ctu re a n d w ith in Its te r ri­
t o r y deal In th e b ra n d s and sh o u ld be th e sole c u s to m e r o f all th e o th e rs ,
a n d t h a t n o o n e sh ou ld sell t o a n y p erson w h e n th ere w as reason t o th in k
such p erson In ten d ed t o e x p o r t th e a rticle p u rch a se d Into th e p e cu lia r
t e r rito r y o f a n o th e r p a r t y t o th e c o n tr a c ts .
In ex c h a n g e fo r p r o p e r t y an d assets o f O gd en s, L im ite d , th e Im p e ria l
T o b a c c o C o. Issued a large a m o u n t o f s to c k n o w held a n d o w n e d b y d e ­
fe n d a n t, th e A m e rica n T o b a c c o C o . , an d b e ca u se th e r e o f th e la tte r has b e e n
a llo w e d t o select t w o m e m b e rs o f th e b o a rd o f m an ag ers o f th e fo rm e r .
A t p resen t th e y are d e fe n d a n ts Jam es B . D u k e an d W illia m R . H arris.
T h e Im p eria l T o b a c c o C o. c o n tr o ls th e m a n u fa ctu re o f a n d tra d e a n d c o m ­
m erce In t o b a c c o p r o d u c ts a n d th e le a f t o b a c c o n ecessary t h e r e fo r w ith
a n d w ith in th e U n ite d K in g d o m .
D u rin g th e y e a r 1906 Its pu rch ases
In th e U n ited S ta tes a g g re g a te d 5 4 .0 0 0 ,0 0 0 p o u n d s , an d as a result o f th e
a g reem en ts a foresa id w e re m a d e w ith o u t c o m p e t it io n w ith a n y o f th e o th e r
d e fe n d a n ts.
T h e B rltis h -A m e rlca n T o b a c c o C o ., L im ite d , w as in c o rp o ra te d u n d e r
t h e law s o f G rea t B rita in and Ire la n d S e p t. 27 1902, w ith a ca p ita l s t o c k o f
£ 6 ,0 0 0 ,0 0 0 , w h ic h Is n o w h eld o n e -th ir d b y th e Im p e ria l T o b a c c o C o. an d
tw o -th ird s b y th e A m e rica n T o b a c c o C o.
Its p rin cip a l o ffic e has been in
L o n d o n , E n g la n d , b u t th e C h airm an o f th e b o a r d o f m an agers, d e fe n d a n t
W illia m R . H arris, an o ffic e r o f th e A m e r ic a n T o b a c c o C o . , has m a in ta in e d
its o ffic e a t N o . i l l F ifth A v e n u e , N e w Y o r k C ity , an d th e c o m p a n y has
a lw a y s ca rried on business w ith in th e S ou th ern D is trict o f N ew Y o r k .
T h e B r ltis h -A m e r lc a n T o b a c c o C o. pu rch ases large a m o u n ts o f le a f t o b a c c o
In th e U n ited S tates e a ch y e a r — d u rin g 1906 4 8 ,0 0 0 ,0 0 0 p o u n d s — p a rt o f
w h ich It e x p o r ts t o Its v a rio u s p la n ts a b r o a d , and a b o u t h a lf It m a n u fa c tu r e s
here an d In th a t fo rm e x p o r ts .
T h is c o m p a n y , in a d d itio n t o m a n y p lan ts
a b r o a d , has w areh ou ses lo ca te d In d iffe re n t S tates an d m a n u fa c tu r in g plants
a t P e te rs b u rg , V a ., an d D u rh a m , N . C.
D u rin g th e y e a r 1906 it m a n u ­
fa c tu r e d an d e x p o r t e d 1 ,8 0 1 ,1 6 7 ,0 0 0 c ig a r e tte s , 986 ,000 all t o b a c c o c ig ­
a re tte s a n d c h e r o o ts , 8 4 2 ,8 3 9 p o u n d s o f s m o k in g an d 1 ,4 1 5 ,8 5 2 p o u n d s o f
p lu g .
T h e B r ltis h -A m e r lc a n T o b a c c o C o ., th ro u g h o w n ersh ip o f all o r a m a ­
jo r i t y o f th e c a p ita l s t o c k , c o n tr o ls th e fo llo w in g -n a m e d c o m p a n ie s e n g a g ed
In th e business o f m a n u fa c tu r in g o r sellin g t o b a c c o an d Its p r o d u c ts a t th e
p la c e s sp e c ifie d :
C a p ita l.
A m e r ic a n T o b a c c o C o. o f C a n a d a , L t d ., M o n t r e a l - - ------------------ $ 1 ,0 0 0 ,0 0 0
A m e r ic a n T o b a c c o C o ., A k tie s e ls k a b , C o p e n h a g e n , D e n m a r k ..K r . 100 ,000
G eorg e A . J a s m a tz l, A k t . G e s., D re s d e n , G e r m a n y ____________ M . 5 ,0 0 0 ,0 0 0
T . C. W illia m s C o ., P e te rs b u rg , V a _______________________________ $40 0,00 0
D a v id D u n lo p , P e te rs b u rg , V a ----------------------------------------------------------450 ,0 0 0
B ritish C igarette C o ., L t d ., S h a n g h a i, C h in a _______________M ex. 5 ,0 0 0 ,0 0 0
B rltish -A m e rlca n T o b a c c o C o. (In d ia ), L t d ., C a lcu tta . I n d i a . .
£ 4 0 ,0 0 0
M u stard & C o ., S h a n g h a i, C h in a ------------------------------------------------------- $ 5 7 5,00 0
U n ite d T o b a c c o C om p a n ies, L t d ., C ape T o w n , S o u th A fr ic a ____ £ 8 0 0 ,0 0 0
M asp ero F reres, L t d ., C a iro, E g y p t .............- ................ .......................
£ 3 0 ,0 0 0
J a m a ic a T o b a c c o C o ., K in g s to n , J a m a i c a .- .................... . ................
$20 0,00 0
P en in su la r T o b a c c o C o ., L t d ., K a r a c h i, I n d ia ------------------------------£ 10,000
B rltish -A m e rlca n T o b a c c o C o .(C e y lo n ),L t d . , C o lo m b o , C e y lo n . .
£ 7 ,3 0 0
E m ile B ou ssa rd , L t d ., B e lg iu m ------------------------------------------------------£ 2 0 ,0 0 0
N y a A k tle b o la g c t C lg a rettfa b rlk en O rien t, S to c k h o lm , S w e d e n _ K r 2 ,000,000
W . S. M athew s & Son s (ow n s o n e -h a lf), L o u isv ille , K y --------------- $40 0,00 0
In M ay 1903 the B rltish -A m e rlca n T o b a c c o C o. an d th e A m e rica n S n u ff
C o. a cq u ire d co n tro l o f th e business o f W . S. M athew s & S on s, a c o -p a r tn e r ­
sh ip , lo n g su ccessfu lly e n g a g ed at L o u is v ille , K y ., In in te r-S ta te a n d foreign
co m m e r c e In le a f and m a n u fa ctu re d t o b a c c o .
A c o rp o ra tio n w as org a n ized
u n d er the laws o f N ew Jersey w ith th e n a m e o f ■W . S. M athew s & Son s
an d ca p ita l sto ck o f $ 4 0 0 ,0 0 0 , th erea fter In creased to $50 0 ,0 0 0 , an d to it
w as tra n sferred th e business o f th e p a rtn ersh ip . T h e B ritish -A m erica n
T o b a c c o C o. and th e A m e rica n Snu ff C o. to g e th e r a t o n c e a cq u ire d and
now h o ld a m a jo rity o f th e s to c k o f th e n ew c o r p o r a tio n .
In 1903 W . S.
M athetos & Sons p u rch a sed 1 6 ,900,000 p ou n d s o f le a f t o b a c c o an d e x p o r te d
1 3 .6 5 5 .0 0 0 .
In th e y e a r 1906 Its p u rch a ses a m o u n te d to m ore th an
7.0 0 0 .0 0 0 p o u n d s a n d its e x p o r ts to m ore th a n 6 ,5 0 0 ,0 0 0 p o u n d s.
A m ong
o th e r assets, W . S. M athew s & Son s h old s s to ck In th e fo llo w in g co m p a n ie s:
m a n u fa ctu rin g b la ck le a f t o b a c c o : W e s t In d ia n T o b a c c o C o ., L t d ., T rin i­
d a d , W e st In d ies, c a p ita ] s to ck $ 1 0 ,0 0 0 , h old in g s 60 % — th e B ritish -A m e ri­
ca n T o b a c c o Co. ow n s 1 5 % ; B la ck H orse T o b a c c o C o ., M o n te re y , M e x ico ,
ca p ita l s to c k $ 2 0 0 ,0 0 0 , h old in g s a b o u t 9 4 % .
[F o r fu rth er p articu la rs re g a rd in g th e E n glish c o m p a n ie s , see B rltish A m e rlca n T o b a c c o C o ., V . 75, p . 735; V . 76, p . 86 8 , 1145; V . 77 p 39an d Im p eria l’ T o b a c c o C o ., V . 7 8 , p . 771; V . 7 5 , p . 397 , 735; V . 76, p . 9 2 2 '
1 4 1 1 .— E d .)




279

THE CHRONICLE.

The M erg ed C om p a n y.
In O cto b e r 1904 th e A m e r ic a n T o b a c c o C o. ( o ld ) , C o n tin e n ta l T o b a c c o
C o. a n d C o n s o lid a te d T o b a c c o C o ., p u rsu a n t t o th e law s o f N e w J ersey ,
w ere m e rg e d a n d c o n s o lid a te d u n d er th e n a m e o f th e A m e rica n T o b a c c o Co
[per p la n In V . 7 9 , p . 102 4, 1705; V . 80, p . 168; V . 8 4 , p . 1 0 5 .— E d .]
It
n o w o p era tes as b ra n ch es, p la n ts m a n u fa ctu rin g cig a re tte s, little cig a rs
a n d c h e ro o ts , p lu g a n d sm o k in g t o b a c c o s , at R ic h m o n d , D a n v ille an d N e w ­
p o rt N ew s, V a ., B a ltim o re , M d ., N ew O rleans, L a ., N ew Y o r k C ity , S t.
L o u is, C h ica g o , D u rh a m , N . C ., L o u isv ille , K y ., C la rk sville, T e n n ., M id d le ­
to w n , O h io , P e te rsb u rg , V a ., a n d O w e n s b o ro , K y .
T h e p r o d u c ts o f su ch
p la n ts , to g e th e r w ith th e o u tp u t o f th ose o p e r a te d b y o th e r d e fe n d a n t
c o r p o r a tio n s , e s p e cia lly P . L o rilla rd C o ., are c o lle c te d In w areh ou ses In
S ta tes o th e r th a n th o se w h ere m a n u fa c tu r e d , an d th e n b y th e sellin g d e ­
p a rtm e n t o f th e A m e r ic a n T o b a c c o C o ., lo c a te d In N ew Y o r k C ity , a c tin g
th ro u g h a g en ts a n d d ru m m ers tr a v e lin g a n d s ta tio n e d , w h olesa lers, re ­
tailers a n d o th e r a gen cies In th e v a rio u s S ta te s, are s o ld a n d sh ip p e d t o
e v e r y p a rt o f th e U n io n as a p a rt o f in te r-S ta te a n d fo re ig n c o m m e r c e .
T h ro u g h th e m ean s herein d e scrib e d It co n tro ls an d u tilizes h u n d red s o f
sellin g a n d d is trib u tin g agen cies th r o u g h o u t th e d ifferen t S ta tes.
D e fe n d a n t also has o rg a n iz e d a b u y in g d e p a rtm e n t, w ith sp e cia l a gen ts
lo c a te d in th e d ifferen t S tates w h ere le a f t o b a c c o Is g ro w n a n d m a r k e te d ,
a n d th ro u g h th ese fo r Itself a n d m a n y o th e r o f th e d e fe n d a n ts in w h ic h It
o w n s s t o c k , o p e ra tin g In v a rio u s S ta tes, e sp e cia lly P . L o rilla rd C o ., B la c k ,
w e ll’ s D u rh a m T o b a c c o C o ., th e J o h n B o llm a n C o ., S p a u ld in g & M e rrick ,
F . F . A d a m s C o. a n d S. A n a r g y r o s , b u y s large q u a n titie s o f le a f t o b a c c o .
T h e A m e r ic a n T o b a c c o C o ., a c tin g d ir e ctly In Its o w n n a m e o r th ro u g h
o th e r d e fe n d a n t c o r p o r a tio n s , ow n s a c o n tr o llin g In terest In th e c a p ita l
s to c k o f all th e o th e r c o rp o ra te d e fe n d a n ts (e x c e p t th e Im p eria l T o b a c c o
C o.) a n d d icta te s th e e le ctio n o f th eir d ire cto rs .
S U M M A R Y OF PR O D U CTIO N I N 1906 B Y
C O M B IN E .

A L L C O M P A N IE S IN TH E

Total
United States.
Domestic tobacco produced________________lbs. 800,000,000
Manufactured tobacco, plug and smoking . . l b s . 363,000,000
Snuff _____________________________________ lbs.
23,660,000
Cigarettes__________________________________N o. 6,328,000,000
Small cigars_______________ _________ _____ N o. 995,000.000
Cigars, stogies, & c........................................... N o . 7,375,000,000
Licorice products______________________________
(?)
T in fo il-------------------------------------------------------------(?)

Defendant's P rop’ll
Output.
(about)
600,000,000 75%
282,000,000 80%
22,500,000 95%
4,900,000,000 80%
905,000,000 90%
747,135,000 10%
(?)
95%
(?)
80%

O U T P U T I N YBA/eSS1890 A N D 1891 (000 O M IT T E D ).
-1890-------------—--------------1891Total U.S. Am . TobCo Total U . S.Am .Tob.C
Cigarettes.............................................. No.2,505,107 2,410,520 3,137,319
2,788,778
69,829
5,526
76,708
13,813
Smoking to b a cco ....... ..........................lbs.
Cheroots and little cigars__________N o.N ot stated
30,093 N ot stated.
40,009
Plug and twist.....................................lb s.
do
N ot stated.
166,178
4,443
Fine cu t____ __________ _____________lbs
do
do
16,969
560
Snuff..................................................... .lb s .
do
do
10,674
383
BU SIN E S S OF L E A D IN G CONTROLLED C O M P A N IE S IN 1906.
---------------- Pounds of----------------N o. ol (000 omit.)
Smoking.
Plug.
Snuff.
a Cigars Cigarettet,
zBritish American Tobacco C o . . 842,839 1,415,852
- ..............
986 1,801,167
American Snuff Co. and sub. cos.
______
______ 22,500,000 ______
____ _
American Cigar C o___________ ________ ___
______
_________ 864,810
_____ _
American Stogie____________ _________ ___
____ ______________
97,711
_____ _
Havana-American C o ..... .......... ..
. . . ........
............
.............. .. 87,620
____ _
Five Cuban subsidiary cos____
______
______
_________ 131,000 1,582,401
P. Lorillard Co. (see 1897 below)
____ . „
R . J . Reynolds Tobacco C o............................20,000,000(m ostly p lu g )_______
Spaulding & Merrick, C h icago.. — 69,000,000—
_____ ________„■
_______
R. A. Patterson Tobacco C o____ — 65,895,000—
_________ ;______
_____ _
Blackwell’s Durham T obacco Co.9,920,000
______
_________ ______
______
S. Anargyros......................................................
...................................................
672,006
______
____
Luhrman & Wilbern Tobacco Co. — (10,032,786 lbs. of scrap .)—
John Bollman C o _____________
______
______
_________ ______
79,000
................................................. ..
F. F. Adams T ob acco Co ........... — (64,200,000)—
Noll & Williams Tobacco C o____
______ 4,100.000
.............. .. ..... ...................... __
Nashville Tobacco W orks______
— 6725,000—
_____ _ ______
______
D ay & Night T ob acco C o............(7,000,000 lbs. scrap) ..................................................
............
Pinkerton Tobacco C o.................. (2,420,000 lbs. scrap) ..................................
R . P. Richardson Jr. <fcCo_____
— 1,000,000—
_________ _____ ____________
Liipfert-Scales C o______________
over 2,000,000
_________ ______
______
W ells-W hitehead Tobacco C o.....
............
............
.............................
90,600
.................................
6,000,000 ......................... ......
W . E. Garrett & Sons..... .............
N ote.— The petition also gives the ou tput tor the year preceding purchase of a
large number of the concerns whose plants were purchased outright.
a Includes cheroots and “ all-tobacco" cigarettes. 6 “ Manufactured, sold and
distributed’ ’ this amount o f “ to b a cco .”
r Com pany has many plants abroad. The figures here show the output of it*
factories at Petersburg, V a., and Durham, N. C., all o f w hich was exported.— V ,
8 5 , p 101.
C a lu m e t

&

H e c la

(R e p o r t f o r F i s c a l

B oston ,

M ass.

Y e a r en d in g A p r il 3 0

M in in g

C o .,

1 9 0 7 .)

P r e s id e n t A le x a n d e r A g a s s iz , B o s t o n , J u ly 1 0 , w r ite s ia
su b sta n ce:
G eneral R esu lts.— D u rin g th e p a s t y e a r th e c o m p a n y p r o d u c e d m ineral
e q u a l t o 46,2 9 7 to n s refin ed c o p p e r , as a ga in st 43,6 5 2 to n s last y e a r.
O ur
p r o d u c t o f refined c o p p e r w as 4 6 ,9 4 9 to n s .
F o r th e p r e v io u s y e a r o u r p r o ­
d u c t o f refin ed c o p p e r w as 5 0 .5 1 6 t o n s . [E r r o n e o u s ly p r in te d 50,5 2 6 ton s
in last y e a r ’ s r e p o i t .]
T h e p rice o f c o p p e r has v a r ie d from 1 8 M cen ts t o
26 M ce n ts p e r p o u n d .
I t is n o w a b o u t 23 ce n ts.
T h e re h a v e b e e n p a id d u r in g th e p a s t y e a r th ree d iv id e n d s o f $20 each
and o n e o f $15.
E x te n s io n s , & c .— O n th e C a lu m et C o n g lo m e r a te th e e x te n s io n o f th e
s u b -s h a ft in th e “ fiv e fo r tie s ” fro m th e 5 7 th le v e l has b e e n c o n tin u e d
n o r th w a r d ; It has n o w le a c h e d th e 65th le v e l. T h e q u a lity o f th e r o c k in Its
v ic in it y has im p ro v e d s o m e w h a t, a n d th a t o f t.ie m ain b o d y o f th e C on ­
glo m e ra te rem ain s m u c h as h e re to fo re .
T h e y e a r s o p e n in g s o n th e O sce o la A m y g d a lo id are m o s t e n co u ra g in g .
O n th is lo d e N o . 13 S h a ft Is at th e 20th le v e l: N o . 14 at th e 13th; N os. 15
and 16 b e lo w th e 1 2 th , a n d N o . 17 a t th e 6 th .
T h is gives a v e r y con sid era ­
b le a m o u n t o f g ro u n d re a d y fo r s to p in g w h e n th e tim e c o m e s ; In all a b o u t
7 ,1 0 0 fe e t o f s h a fts and 8 4 ,1 0 0 fe e t o f d rifts .
N o . 18 sh a ft is t o b e started
th is su m m e r.
T h e d is ta n ce be tw e e n N o s . 13 an d 18 is 1 1,000 fe e t.
T h e re w as p r o d u c e d fro m th e O sce o la L o d e 6 ,8 9 2 ,5 4 8 p o u n d s o f c o p p e r
d u r in g th e y e a r.
W e are g ra d u a lly Increasin g th e a m o u n t o f r o c k sta m p e d ,
a n d th e p r o d u c t is n o w at th e rate o f a b o u t 9 ,0 0 0 ,0 0 0 p o u n d s o f c o p p e r p er
year.
„
E x ce lle n t p ro gre ss is b e in g m a d e in o p e n in g th e K ea rsa rg e A m y g d a lo id ;
N o s . 19 an d 20 are b e lo w th e 9th le v e l, an d N o . 21 has re a ch e d th e 6th level.
O ne d r ift has been run a cross th e w h ole o f S e c tio n 13.
T h e g r o u n d thus
fa r o p e n e d Is p r o m is in g .
A t th e “ N o n e s u c h ” o u r w o rk has be e n m o s t d is a p p o in tin g .
N ew M ills , & c .— .Since last M a y w e h a v e rem odeled fiv e o f th e H e cla Mill
S ta m p s , an d w e n o w h a v e a w e ll-e q u ip p e d m ill o f 28 h ead s, 5 o f w h ich will
s o o n be s ta m p in g A m y g d a lo id r o c k .
T h e c o s t o f r e b u ild in g th e m ills has
a lre a d y be e n m ore th a n repaid b y th e s a v in g effe cte d In th e tre a tm e n t o f
th e C o n g lo m e ra te r o c k .
W e h a v e sta rte d th e fo u n d a tio n s o f a large re­
g rin d in g m ill, t o be e q u ip p e d w ith 48 Chill m ills and th e a c c o m p a n y in g
w ash in g m a ch in e s, t o re-cru sh d a lly a b o u t 1,500 to n s o f w aste g ra v el, from
w h ich w e h o p e t o m ak e a m aterial sa vin g .
W e h a v e begu n to lay th e
fo u n d a tio n s fo r a new b o ile r h ouse at th e m ills, t o be e q u ip p e d w ith boilers
o f 10,000 h . p . w ith ash an d c o a l c o n v e y o r s a n d a u to m a tic sto k ers.
The
c a p a c it y o f th e b u ild in g Is 12,000 h . p .
A t th e L a k e L in d e n sm eltin g w o rk s w e h a v e e re cte d a new cu n ola fu rn a ce
o f g reater c a p a c it y th a n th e o ld o n e .
F iv e refinl-ng fu rn aces and on e blister
fu r n a c e h a v e b e e n re -b u ilt and th e g reater p a r t o f th e p o w e r used a t th e
w ork s Is n o w tra n sm itte d e le ctr ic a lly
A n e w m in era l h ou se o f a c a p a c ity
o f a b o u t 2 0 ,000 to n s has been b u ilt. A t the B u ffa lo sm e ltin g w o rk s w e are
p re p a rin g to Increase o u r e le c t r o ly t ic p la n t and are e re ctin g a ta n k b u ild in g
c a p a b le o f tre a tin g 2 0 ,0 0 0 ,0 0 0 p o u n d s o f an od es.
D u rin g th e y e a r w e e x p e n d e d on th e d e v e lo p m e n t and e q u ip m e n t o f
th e G ra tio t m in e a b o u t $85 ,0 0 0 . T h e sh o w in g is g o o d an d w arra n ts further
w o rk u n d e r th e term s o f o u r o p tio n .
B y th e e x e rcise o f o u r o p t io n t_; .>:n th e S u p erior C o p p e r C o ., w e are n ow
th e o w n ers o f 5 0 ,1 0 0 shares o f th e ^ ta clc o f th a t c o m p a n y .

280

THE CHRONICLE.

L a S a lle C o p p e r C o . , & c .— L a st w in te r w e jo in e d th e S t. M a r y ’ s M ineral
L a n d C o ., th e C a ldw ell C o p p e r C o ., t h e .Sheldon an d D o u gla ss E sta te s c o m anies a n d th e shareh olders o f th e T e e urn.'eh C o p p e r C o . In o r g a n iz in g th e
a S alle C o p p e r C o . as a c o r p o r a t io n u n d e r th e law s o f M ich ig a n , w ith a
c a p it a l o f 4 0 0 ,0 0 0 shares.
T h is n e w c o m p a n y , th r o u g h th e o w n e rsh ip o f
shares In th e T e c u m s e h C o p p e r C o ., an d b y c o n v e y a n c e fr o m th e o th e r said
c o m p a n ie s , ow n s a n d c o n tr o ls a b o u t 2,4 6 0 a cres, a la rge p a r t o f w h ich c a r ­
ries th e K earsa rg e lo d e . T h ese la n d s a d jo in th e la n d s o f th e O sce o la C o . on
th e n orth .
F o r o u r c o n t r ib u tio n o f 240 acres a n d $ 1 ,0 0 0 ,0 0 0 ca sh t o th e
t r e a s u r y o f th e L a Salle C o p p e r C o .. to g e th e r w ith o u r e n g a g e m e n t t o le n d
th a t c o m p a n y $ 7 5 0 ,0 0 0 , If n e e d e d , fo r Its o p e r a tio n s , th is c o m p a n y r e c e lv 'd
1 6 1 ,7 5 0 shares o f th e 302 ,9 7 7 shares issu ed. T h e re rem ain In th e tre a su ry
o f t h e L a Salle C o p p e r C o . 9 7 ,0 2 3 shares.
( V . 84, p . 224 , 576.)
I n secu rin g th e lan ds o f th e D a n a C o p p e r C o ., c o n tig u o u s t o th e la r d
o f th e F r o n te n a e C o p p e r C o .. w e p u r c h a s e d , fo r $ 4 0 ,0 0 0 , 3 6 ,4 0 0 shares o u t
otf a t o t a l o f 4 0 ,0 0 0 shares o f th e D a n a C o p p e r Co
A c q u is itio n o f In terest in O sceola, & c. C o m p a n ies.— T h e irregu lar o c c u r ­
r e n c e o f p a y v a lu e s In th e K earsa rg e lo d e , b o t h In le n gth a n d d e p th o f th e
lo d e , an d th e low a vera ge v a lu e o f th e c o p p e r c o n t e n t s , m a k e It d e sirable
If n o t essen tia l, fo r c o n s ta n tly su ccessfu l results, t o o p e r a te o n as g reat a
le n g th o f th e lo d e as Is p r a c tic a b le .
In v ie w o f th l« a n d o f o u r large stak e
in th is lo d e In th e L a Salle C o m p a n y ’ s o p e r a tio n s , w e d ete rm in e d t o a cq u ire
Interests In th e O sce o la , A llo u e z an d C en ten n ia l c o m p a n ie s , in th e la n d s
o f w h ic h c o m p a n ie s c o p p e r in p a y in g q u a n titie s h a d b e e n d is c o v e re d in th e
K ea rsa rg e lo d e in a t r a c t o f se ve ra l m iles a d jo in in g o u r m in in g lo c a tio n o n
th e n orth .
I n d u c e d b y these c o n s id e r a tio n s , w e p u r c h a s e d 4 2 ,9 7 8 shares
o f th e A llo u e z , 4 6 ,0 8 0 shares o f th e C en ten n ia l a n d 22,671 shares o f th e
O sc e o la c o m p a n ie s , at a t o t a l c o s t o f $ 7 ,3 9 8 ,2 6 7 .
L itig a tio n .— U p o n a bill In e q u ity p re se n te d b y th e P re sid e n t o f th e O sce ­
o la C o m p a n y as a sh areh older th e re in , th e J u d g e o f th e U n ite d S tates C ir­
c u it C ou rt fo r th e W e s te rn D is tr ic t o f M ich ig a n Issued an I n ju n c tio n again st
e le c t in g d ir e cto r s o r t r a n s a c tin g o th e r b u sin ess at th e a n n u al m e e tin g o f th a t
c o m p a n y , u n til o n final h ea rin g t h e C o u rt c o u ld d e c 'd e wh( t er. as alleg ed in
th e Dill, o u r p u rch a se o f shares as a b o v e rela ted w as c o n t r a r y t o th e law s
a ga in st m o n o p o lie s a n d c o m b in a tio n s t o c o n tr o l p rice s.
L a te r th e sam e
p la in tiff liled a n o th e r bill in th e sam e c o u r t d ir e c t ly a gain st th is c o m p a n y ,
b a se d u p o n his ow n ersh ip o f 23 shares in th is c o m p a n y a c q u ir e d o n A p ril 6
1 90 7, a fte r th e occ u r re n c e o f th e a cts co m p la in e d o f , a lle g in g , In a d d itio n
tto o th e r g rou n d s set u p in his first b ill, th a t as th is c o m p a n y a n d o th e r c o m ­
pa n ies In w h ich it h o ld s a m a jo r it y o f shares, t o g e th e r h a v e m ore th a n 5 0 ,0 0 0
acres o f la n d , their ow n e rsh ip Is c o n tr a r y t o th e M ich igan s ta tu te th a t n o
c o m p a n y shall h old m ore th a n 5 0 ,001 acres, and th a t , n o t w ith s ta n d in g th e
a u t h o r it y g iv e n b y th e la w o f 190 5, o u r p u rch a se o f shares in o th e r c o r p o r a ­
tio n s w as u n law fu l.
W e shall e n d e a v o r to pu sh th ese cases t o th e earliest
d e c is io n .
T h is c o m p a n y ow n s:
-------------S h ares-------------N o . O wned. N o . Issu ed .
100 ,000
£ A llo u e z M in ing C o ____________________________________ 4 2 ,978
^ C en ten n ial C on s olid a te d M in in g C o ___________________ 4 6 ,0 8 0
•
9 0 ,0 0 0
F r o n te n a e C o p p e r C o ____________________________________ 2 0 ,000
20,000
100 ,000
G ra tio t M in in g C o . __________-■___ ______________________ 5 0 ,1 0 0
* L a Salle C op p er C o _____________________________________ 1 6 1 ,7 5 0
302,977
M a n itou M in ing C o __________________________________ 18,000
20,0 0 0
rrOsceola C on s olid a te d M in in g C o _____________________ 22,671
06,150
S u p e rio r C op per. C o ------------------------------ -------------------------- 5 0 ,1 0 0
100,000
[ F o r d eta ils o f th e o p e ra tio n s o f th e se c o m p a n ie s , refere n ce sh o u ld be
m a d e t o th e rep orts o f these c o m p a n ie s a p p e n d e d t o th e p a m p h le t .— E d .]

[V o l .

lxxxv.

th a t h a v e p r o v e n u n p r o d u c tiv e , le a v in g In fo r c e 157 ,564 a cres, a d ecrea se
fro m last y e a r o f 15,063 acres.

£

O P E R A T IO N S D IV ID E N D S , A c.
190 6-0 7.
1 90 5-0 6.
190 4-0 5.
190 3-0 4.
R e fin e d c o p p e r p r o d u c e d
. 9 3 .8 9 8 ,9 6 3 10 1 ,0 3 1 ,7 9 9
85,6 4 4 ,4 0 1
7 6 ,6 2 0 ,1 4 5
p o u n d s _____
P r ic e o f c o p p e r , c e n ts ,
p e r p o u n d ____________ 1 8 % * ® 2 6 K
1 5 H @ 1 0 1 2 K @ 15J^ 11?£@ 1 3M
T o t a l d iv id e n d s .p e r $25
s h a r e )_________________
$75
$50
$45
$40
$ 5 ,0 0 0 ,0 0 0
$ 4 ,5 0 0 ,0 0 0
$ 4 ,0 0 0 ,0 0 0
A m o u n tin g t o ___________$7 ,5 0 0 ,0 0 0
A S S E T S A N D L I A B I L I T I E S O F A P R I L 30.
1906.
1905.
1907.
$
$
$
197.667
120 ,257
1 3 3 ,0 4 7
15,000
15,000
15,0 0 0

A s sets —
C ash at m in e o f f i c e --------Cash at NT. Y . o f f i c e ____
C ash
an d
copper
at
B o sto n o f f i c e ..... ............
B ills r e c e iv a b le at B o s ­
t o n an d m in e __________
D e v e lo p m e n t & e q u ip ­
m en t f u n d ____________
In s u ra n ce f u n d _________
E m p lo y e e s ’ a id fu n d —

1904.
$
116 ,917
15,000

6,2 6 4 ,5 2 3

" 7 ,8 1 7 ,9 9 4

6 ,4 9 6 ,1 3 3

1,939,001

1,2 8 1 ,7 6 9

1.1 4 0 ,1 2 2

590,212

451,521

04 5 ,1 4 5
6949,841
3,499

1,8 2 7 ,5 4 4
990,859
4,906

927 ,034
10,991

5 ! ,6.)l
6 ,208

T o t a l a ssets ___________
L ia b ilities—
D r a ft s & b ills p a y a b le . M a c h ’ y , c o n t r a c ts . &c
K ew een aw A ssoc, n otes-

8 ,7 5 7 ,4 4 4

11,916,681

8 ,1 7 2 ,4 1 7

7 ,2 8 6 ,3 3 8

1,2 2 8 ,5 0 2

408 ,862
878 ,0 0 0

425 ,228
603 ,000

373 299
33 0 ,0 0 0

T o t a l lia b ilitie s ____ .
B a la n ce o f a ss e ts-----------

1 ,728,502
7 ,0 2 8 ,9 4 2

D iv is io n —
O il____________
G a s ------ ---------

D r ille d .
...1 5 1
. . . 46

P u r­
chased.
6

D ry
H o les.
39
3

42
T o t a l . . ..................197
8
13
an in crea se o f 61 p r o d u c tiv e w ells d u rin g th e y e a r.

Total W ells
O perated
T h is D ate.
1,171
215

89

1,386

Ba rrels o f Oil P rod u ced in Y ea rs 1906-07 and 1905-06.
H igh -grade O il.
I
Low -grade Oil.
1906-07. 1 90 5-0 6.]
1 90 6-0 7.
P e n n s y lv a n ia ______124,553 1 1 7 ,6 1 0 ! In d ia n a ..................... 86 175
O h i o _______________ 7 1 ,8 6 3
7 9 ,2 5 8 ! I l l i n o i s . . .................. .. 2 1 ,1 6 8
197 ,494 : In d ia n T e r r i t o r y .. 85,341
W e s t V ir g in ia _____ 310 ,308
j T e x a s ___________ 4 9,261

1905-06.
171 ,789
N one
4 0 ,6 1 6
58,850

394,3621
T o t a l ............... .2 4 1 ,9 4 5
2 7 1 ,2 5 5
T o t a l ___________ 5 06 ,724
!
D e cre a se -----------29,310
In cre a se ________ 112,362
T h e to ta l p ro d u c tio n o f o il, b o th high g ra d e and low g ra d e , w as 748 ,669
barrels, an increase o f 8 3 ,0 5 2 barrels o v e r th e p re v io u s y e a r.
A v e ra g e net
p ro d u ctio n p er m o n th , 62,389 barrels, again st 5 5 ,4 6 8 barrels in 190 5-0 6, an
Increase in a v era g e m o n th ly p r o d u c tio n o f 6,921 b arrels.
T h e to ta l co st
o f p r o d u c tio n fo r th e y e a r a ggrega ted $254,951 83, an a v era g e c o s t o f 34
cen ts p e r b a rrel, co m p a re d w ith last y e a r ’s a v era g e c o s t o f 41 3-10 cen ts p e r
b a rrel, a d ecrease o f o v e r 7 cen ts p er barrel.
T h e increase In In vestm en t d u rin g th e y e a r 1905 w as $ 5 3 8 ,1 8 9 , an d In
1906 $ 3 5 1,28 4 a decrea se In 1906 as co m p a re d w ith 1905 o f $18 6 ,9 0 5 .
N o tw ith s ta n d in g th e decrea se In th e a m o u n t d isb u rsed fo r n ew d e v e lo p ­
m e n t, th e va lu e o f th e oil an d gas p ro d u c tio n Increased d u rin g the p eriod
as c o m p a re d w ith last y e a r , $22 6 ,3 3 5 .
T h e increa se in In d ebted n ess d u rin g 1905 w as $ 4 6 1 ,2 9 2 , Avhlle th is y e a r
a d ecrease o f $ 2 6 0,17 3 Is s h o w n , a d ifferen ce o f $ 7 2 1,46 4 In fa v o r o f 1906.
A ll net earnings are b e in g a p p lied t o th e r e d u ctio n o f In d ebted n ess a n d a d d i­
tion a l In v estm en t. T h e w isd om o f th is cou rse and its u ltim a te ben eficial
e ffe ct o n th e secu rities o f th e c o m p a n y are sh ow n in th e Im m ed ia te Increase
in p oiits a m o u n tin g t o o v e r 80 % o f th e p r in c ip a l re in v e ste d .
1 he fo llo w in g to w n s are n o w b e in g su p p lied w ith gas b y o u r u n d erly in g
c o m p a n ie s an d th o se in w h ich w e are Interested:
O h io— A sh ta b u la , A n d o v e r , A u s tln b u rg , B la d e n sb u rg . C o s h o cto n , G e n ­
e v a , Jefferson , K in g sv ille , M a rietta , N e w p o r t, S im o n , W a rsa w a n d W est
B e d fo rd .
W est V irg in ia — B u rn t H o u se , B e lm o n t. C a m eron , E u rek a , G o o se C reek ,
L o u d e n sv ille , S t. M arys, S ch u ltz , S m ith v llle , W a v e r ly a n d W U lla m sto w n .
P e n n sy lv a n ia — B u llio n , C la rion , C orsica , F re d o n la G reen v ille, H a d le y ,
J a m estow n a n d S om m erv ille.
N ew Y o r k — B ow m a n sv ille, D ep ew . L a n ca ster an d W lllla m sv llle .
In d ia n a — C lark sville, H a rtfo rd C ity , M arlon an d N o b le sv llle .
T e x a s— C o rsica n a .
A p p lic a tio n o f S u rp lu s, $ 6 1 1 ,4 5 7 , fo r Y e a r 1906-7.
A d d itio n t o p la n t, gas d i v . . $ 1 3 3 ,375| N et r e d u c tio n flo a tin g d e b t
A d d it io n t o p la n t, oil d l v ___ 212 ,006
d u r in g y e a r ______________$ 1 ,2 6 0 ,1 7 3
P u rch a se s t o c k L o n g fe llo w
|B o n d s r e tire d , 1st m o r t ------- 200 ,000
G as C o ____________________
5 ,6 2 0 1 Less Issue 3d m tg e . b o n d s . . 1 ,2 0 0 ,0 0 0
O ffic e f u r n it u r e , P itts b u r g h 2831
T o t a l _____ _

____________ $351,284|

N et d ecrease In d e b t . .

..$ 2 6 0 ,1 7 3

F IS C A L R E S ULTS.
G ross e arn in gs— O il D iv i s io n _________
G as D i v i s i o n ________________________
P r o p , o f earns, fro m R iv e r G as C o.
($4 4 ,0 3 1 ) an d B u ck e y e S ta te G as &
F u el C o . ( $ 1 5 , 1 6 6 ) ................................

190 6-0 7.
$ 1 ,6 0 9 ,8 1 6
366 ,2 2 7
5 9 ,1 9 7
$ 1 ,4 3 5 ,2 4 0

1 ,286,862
10,6 2 9 ,8 1 9

A ban­
doned.
58
31

Location o f W ells.
P a . W .V a . In d . O hio. T e x . In d .T e r . III. N . Y . Total.
O il d iv is n _ .
271
260
206
194
121
107
12
..
1,171
G as d iv is n .
104
2
71
11
..
..
27
215
N ew lines w ere co n s tru cte d in th e A r m s tr o n g , J efferson an d Clarion
C o u n ty fields t o u tilize th e p r o d u c tio n fo r th e O h io to w n s, an d th e p la n t o f
th e C itizen s Gas C o. at M a rlon , I n d ., w as p u rch a sed at a fa v o ra b le figu re.
T o ta l in crea se fo r th e y e a r , all s ize s; 34 m iles.
T h e net p r o d u c tio n o f oil sh ow s a g r a tify in g In crease, th e to ta l fo r th e y ea r
b ein g 748 ,669 barrels, an Increase o f 8 3 ,052 barrels o v e r last y e a r, th e r e v e ­
nue fro m w h ich a m o u n te d t o $ 1 ,0 0 9 ,8 1 6 , an a v era g e o f $1 35 p er barrel,
an Increase o f 18 cen ts p er barrel as c o m p a re d w ith last y ea r.
F ro m th e fo llo w in g an a lysis lt will b e seen th a t th e Increase Is e n tirely In
th e h igh -gra d e p r o d u c t, v iz .:

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

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

a T h e d e v e lo p nent a n d e a u 'p . fu n d w as d e r iv e d as fo llo w s : B a la n ce on
h a n d A p ril 30 i9 0 6 , $ 1 ,8 2 7 ,5 4 4 ; a d d e d d u r in g y e a r e n d in g A p ril 30 1907.
$7 ,3 5 0 ,0 0 0 ; in terest re ce iv e d d u r in g th e y e a r , $ 9 0 ,9 9 7 ; to t a l on h a n d A p ril
36 1907. $ 9 ,2 6 8 ,5 4 0 : e x p e n d e d fo r p u rch a se o f la n d s ,s t o c k ? an d d e v e lo p ­
m en t w ort; o n p rop e rtie s a c q u ir e d , 5 9 ,2 2 3 ,3 9 5 .
B a la n ce , $ 4 5 ,1 4 5 .
6 T h e insurance1 fu n d is s ta te d a fte r d e d u c tin g $ 87 ,742 loss o n s c h o o l an d
m in e b u ild in g s.

The capital stock is $2,500,000.— V. 85, p. 224.
Southern Cotton Oil Co.
■ (Report for Fiscal Year ending M ay 31 1907.)
This company, controlled by the Virginia-Carolina Chem­
ical Co. (see report in V. 85, p. 1650,153), reports the following:
R E S U L T S F O R Y E A R E N D I N G M A Y 31
E a rn in g s —
1906 07.
190 5-0 6
$ 5 3 2 ,7 0 9
N e t earnlnds ___________ _________________________________ a $ l,6 1 0 ,1 0 0
D iv id e n d s p a y a b le Jun e 15 190 7 ----------------------------- 5 0 0 ,0 0 0
* ----------------------B a l a n c e ...................... - ...............................................................$ 1 ,1 1 0 ,1 0 0

$ 5 3 2 ,7 0 9

a N et earn in gs w ere s ta te d a fte r ch a rg in g t o o p e r a tin g e x p e n s e s $4 8 7 ,5 9 6
fo r ren ew a ls and repairs.
B A L A N C E S H E E T M A Y 31 1907.
1907.
1906.
A s s e ts —
$
$
Real estate.plant.JL-cS,676.140
Stocks owned _ ......... 1.061.374 9 906,110
Bonds owned ............ 393.741
C ashdep. with trust.
20,697.
Materias & supplies.3,892.157 2.477.844
Accts.<v: bills rec __ a l , 528.321 1,140,906
In t.& ins.iu a d v . .
110.294 103.64S
Cash ................ .......... 1.153,746 1.145,985

Sold
6
7

1907.
1906.
Liabilities—
$
S
nap. stocb, c o m ...1 0 ,0 0 0 ,0 0 0 10,000.00
Capitalstock com _10.000.000 10,000.000
Bills payable......... 3,172,000 3,275,500
A cftspayable, etc.
499,025
105,920
Drafts against con ­
signment0 _____
227,397
500.000
Dividends ..............
180.000
R eserv e__________
186.385
Surplus
1.146,749

O p e r. e x p e n s e , in cl. ren tals, r o y a ltie s ,
t a x e s , d rillin g , gas p u rch a se , & C -.

19 0 5 -0 6 .
1904-05.
$793,5011 $ 1 ,5 6 8 ,6 3 6
4 1 5 ,4 0 3 ,
N ot

s e p a r a t e ly
$ 1 ,5 6 8 ,6 3 6

6 32 ,059

678 ,9 9 0

5 6 4 ,1 7 4

N e t e a rn in g s____ _________ __________
$ 8 7 1 ,0 6 6
D ed u ction s—
In te re st o n fu n d e d d e b t _____________ 1
$ 2 5 5 ,2 8 9 /
___ |_________ \
In te re st o n cu rren t d e b t ____
T ra n sfe r an d l e g is t 'g o f b o n d s, & c ___
4 ,3 2 0
D iv id e n d s p a i d ............................................
N one
T o t a l d e d u c t io n s ........ ................... .........
B a la n ce , su rplu s fo r y e a r _____ ______ _

s ta te d

$ 1 ,2 0 8 ,9 0 4

$ 2 5 9,60 9
$61 1,45 7

$ 5 7 6,84 5
$92,197\

$ 8 8 9,64 6

(5 )3 0 0 ,0 0 0

$18 9,15 2
155 ,1 8 2 ]
7,342
(8 )4 8 0 ,0 0 0

$ 5 5 4,72 0
$22 ,125

$ 6 6 9,15 2
$22 0 ,4 9 4

B 4 LA N C E S H E E T M A R C H 31.
1907.
1P06.
I
1907.
Assets—
$
S
I Liabilities—
$
Property account 10.535.2251
[A cc’ tspayab le less
Stocks and bonds of
>10.224.7011 acc’ ts recelv'ble,
outside com p's.
40.700J
! cash, <tc_........... 1,021,238
! IJonded debt, coll.
j trust sold bonds,
| 1,322 outst'dinsr 1.322,000
11.200 3d M. bonds 1,200.000
!Capital stock, 60,i 0 0 0 s h a r e s ..
. 6 ,000,000
|Surplus.................. 1.032,747
T o t a l ................1 0 ,5 7 5 ,9 8 5 10,224.701

T o t a l ................... 10,575,985

1906.
$
2,281,411
..............
_______
6 000,000
421,291
8,702,702

1 Total authorized issue. $2,600,000. of which S I,278,0 >0 In treasury.

Union Oil Company of California.
(Report for Fiscal Year ending Dec. 31 1906.)
President Lyman Stewart, Los Angeles, Jan. 31 1907, says:

B o n d s .— 'The c o m p a n y has n o d ir e ct b o n d e d d e b t , b u t has g u a ra n te e d
b o n d s as fo llo w s :
Owned by
B on d s
Au th orized
B onds
G uaranteed B on ds —
and Issu ed . R edeem ed. V n . O il. C o . O utstand’g .
M ission T r a n s p o rta tio n &
R e fin in g C o . (V . 7 9 , p .
2 7 9 9 ) ______________ _____$ 1 ,0 0 0 ,0 0 0
$ 50 ,000
$ 62 ,000
$ 8 8 8,00 0
T o t a l .................... 16,835.47014.774,5541 T o ta l.................. 10,835,470 11,774,554
U n io n T r a n s p o rta tio n C o .
d
e
d
u
c
t
in
g
$
7
6
,4
0
4
(V . 83, p . 1 0 2 )__________ 3 ,0 0 0 ,0 0 0
----------569 ,0 0 0
2 ,4 1 1 ,0 0 0
a A c c o u n t s an d bills re c e iv a b le w ere s ta te d a fte r
r e se r v e fo r d o u b tfu l a c c o u n t s .— V . 8 3 , p . 276.
U n io n S team sh ip C o . (V .
8 3 , p . 1 0 2 )......................... 1 ,0 0 0 ,0 0 0
100,000
_______
9 0 0 ,0 0 0
Pittsburgh (Pa.) Oil & Gas Co.
T h e U n ite d S te a m sh ip C o. has Issued $3 5 0 ,0 0 0 In b o n d s , b u t th ese are
not g u a ra n te e d b y th e U n io n OH C o.
(Report for Fiscal Year ending March 31 1907.)
T h e c o m p a n y ’s flo a tin g In debtedn ess Is n o t v e r y fo rm id a b le ; th e cash
lu e o f m e rch a n ta b le oil an d su p p lies, bills an d a c c o u n ts r e c e iv a b le ,
In the report, issued some weeks ago, President T. N . vwaou
ld liq u id a te th e en tire a m o u n t, In clu d in g th e d e fe rre d p a y m e n ts o n th e
Barnsdall said in substance;
p ro p e rtie s p u r c h a s e d .
H o ld in g s.— T h e c o m p a n y o w n s s to c k In th e fo llo w in g c o r p o r a tio n s , eith er
S in ce th e last a n n u al r e p o rt we h a v e a c q u ir e d , th ro u g h o u r u n d e r ly in g j
d ir e ctly o r th rou g h o th e r h o ld in g c o m p a n ie s:
c o m p a n ie s , 35,8 3 5 acres o f o il an d gas leases, an d su rren d ered 50,8 9 8 a c r e




A

ug.

THE CHRONICLE.

3 1 9 0 7 .j

Au th orized
N a m e o f C orp ora tion —
C a pital.
M ission T ra n s. & R e fin in g C o ____ $ 2 ,5 0 0 ,0 0 0
C a liforn ia In d u stria l C o . . . ............. 2 ,5 0 0 ,0 0 0
U n io n T r a n sp o rta tio n C o .................. 3 ,0 0 0 ,0 0 0
M ission T r a n sfe r C o _______________
2 50 ,000
INTewlove O il C o ____________________ 1 ,5 0 0 ,0 0 0
P itc h e r & G a r b u tt O il C o _________
5 0 0 ,0 0 0
J o h n Irw in O il C o _________________
30,0 0 0
O ld K e y s to n e Oil C o . _____________
100 ,000
P io n e e r P ip e L in e C o ______________
5 0 ,000
S y n d ic a te O il C o . . ________________
250 ,000
W estern Ir o n S t e e l ___________ _____ 1 ,0 0 0 ,0 0 0
U n io n S team sh ip C o _______________ 5 ,0 0 0 ,0 0 0
U n ited S team sh ip C o . ___________ 1 ,0 0 0 ,0 0 0
S a n ta M arla O il & G as C o ..................
500 ,000
200 ,0 0 0
C a lifo rn ia C oa st O il C o ____________
C la rem on t O il C o _______
______
500 ,0 0 0
S u r f Oil C o _______ _______ __________
500 ,0 0 0
L o s A n geles O il C o . _______________
50,000
U n io n W e ll S u p p ly C o ____________
100 ,000
U n io n O il T o o l C o ___________ ______
100 ,000

Shares
' Issu ed .
2 5 ,000
14,855
3 0 ,000
2,500
6 ,7 4 4
4 8 7 ,0 6 0
140
935
310
118,357
4,407
a 5 0 ,0 0 0
8 ,0 0 0
416 ,822
2,000
447 ,859
250,000
10,000
750
1,000

Owned by
U n. Oil C o .
P r a c tic a lly all
O n e -th ird
P r a c t ic a lly all
P r a c tica lly all
S e v e n -te n th s
F o u r-te n th s
O n e -h a lf
N in e -te n th s
P r a c tic a lly all
O n e -se v e n th
O n e -fifth
P r a c tic a lly all
O n e -h a lf
P r a c tica lly all
O n e -h a lf
O v e r o n e -h a lf
P r a c tic a lly all
S ix -te n th s
P r a c t ic a lly all
O v e r o n e -h a lf

a O n ly a fe w shares o f th e U n ion S team sh ip C o . s to c k h a v e been Issued.
T h e U n ion O il C o . o f C a liforn ia h o ld s a s to c k -o r d e r f o r t h e b a la n c e o f th e
s to c k .
T h e su b sid ia ry c o m p a n ie s w h ich y o u r c o m p a n y c o n tr o ls h a v e n o o u ts id e
In debtedn ess o th e r th an th e b o n d e d d e b t herein s ta te d , w ith th e e x c e p t io n
o f cu rren t m o n t h ly v o u c h e r s and th e sm all loan s carried b y th e U n io n Wrell
S u p p ly C o. an d U n io n O il T o o l C o. T h e U n io n W e ll S u p p ly C o . Is a jo b
b in g h ou se w h ich also h an dles su p p lies fo r th is c o m p a n y . * It o w n s 51 %
o f th e s to c k o f th e U n io n Oil T o o l C o .. w h ich la tte r c o m p a n y m a n u fa ctu re s
v a r io u s k in d s o f oil w ell t o o ls , gas e n gin es. & c. T h e U n io n Wrell S u p p ly
C o . ow n s sh op s an d lo ca tio n s in L o s A n g e le s , O rc u tt an d C o a lin g a .
T otal L a nd C ontrolled. D irectly o r in d ire c tly , by U nion Oil C o m p a n y o f C a li­
fo rn ia . 1 8 8 ,6 9 6 .6 9 A cres.
Oil Lands and Oil
M in in g
R ights in F e e .
L ease.
C laim s.
A cres.
A cres.
A cres.
7 1,871.21
9 ,6 0 9 .2 0
V e n tu ra C o u n ty
2 ,3 3 0 .0 0
4 ,1 3 8 .2 6
300 .9 0
L o s A n g eles C o u n ty - 3 ,5 5 3 .6 4
2 .5 3 6 .0 0
O ra n ge C o u n t y _____
S a n ta B a rb a ra C o u n ty
7 3 ,9 0 4 .3 7
5 .7 7 9 .2 6
4 0 0 .0 0
160.00
F resn o C o u n t y _______ ___ . .
1 ,7 6 0 .0 0
San 3 e n lt o C ou n ty
__ ___
2 ,7 2 6 .3 0
640 .0 0
3 ,1 6 8 .2 0
H u m b old t C o u n ty
_______
1 ,4 5 9 .3 5
San Luis Obispo County___
4 ,3 2 0 .0 0
4 0 .0 0
... .
Kerr| C o u a '.y _________________
Totall a c r e a g e .

.1 6 1 ,2 6 1 .3 3
18 ,3 8 5 .3 6
9 ,0 5 0 .0 0
ire p o rtio n s o f these lands w ill be t o o lean t o ren d er o p e ra tio n s th ereon
r :able at p rev a ilin g p rices fo r c r u d e o il, and a still larger area m a y p o s ­
sib ly b e e n tirely ba rre n .
Y o u r c o m p a n y is su re, h o w e v e r , th a t it has m a n y
th o u s a n d s o f acres th a t are v e r y rich .
I t has o n e t r a c t o f 40 acres w h ich
has p r o d u c e d a lrea d y o v e r 6 0 ,000 barrels p er a cre , an d Is still p r o d u c in g at
the rate o f 10,0 0 0 barrels p e r acre p e r a n n u m .
It has also o n e w ell in th e
S a n ta M aria field th a t p ro d u c e d d u rin g th e first eigh teen m o n th s o f its e x ­
isten ce o v e r 1 ,5 0 0 ,0 0 0 barrels o f o il, an d is still p r o d u c in g at th e ra te o f
a b o u t 100.000 barrels p e r y e a r.
T h is, h o w e v e r, is e x c e p tio n a l.
P i p e L in e s .— T h e c o m p a n y has p ip e lines as fo llo w s : O ne 6-in ch line c o n ­
n e c tin g th e S a n ta M arla and L o m p o c oil fields w ith tid e w a te r at P o r t H a r ­
fo rd : a 4 -ln ch line c o n n e c tin g th e E x -M U sio n , O ja l, Sespe, B a rd sdale and
T o r r e y C a n y o n fields w ith tid e w a te r at V e n tu ra : a 6-ln ch line c o n n e c tin g
L os A n geles w ith tid e w a te r at San P e d ro , w ith sm aller lateral lines c o n n e c t ­
ing th e sam e w ith F u lle rto n and W h ittie r oil Held: a line c o n n e c tin g th e C oal!n g a field w ith th e railroad at O ra S ta tio n : t w o 8 -ln ch lines, each a b o u t
3 m iles In len g th , co n n e c tin g p o r tio n s o f th e K ern R iv e r field w ith the
r a ilroa d : an d 51 m iles o f 8 -ln cli p ip e r u n n in g a cross th e Isth m u s o f P a n a m a ,
w h ich w ill b e o p era te d in c o n n e c tio n w ith th e c o m p a n y 's line o f steam ers,
b o t h o n th e P a cific an d A t la n t ic .
It is also c o n s tr u c tin g an a d d itio n a l
8 -ln ch line fro m th e San ta M arla field t o P o rt H a r fo r d , th e 6-ln ch line
(h a v in g a c a p a c it y o f o n ly a b o u t 14,000 barrels p e r d a y ) p r o v in g In ad eq u ate.
W ith th e t w o lines th e d a ily c a p a c ity w ill be so m e 35,0 0 0 barrels, w h ic h , it
Is b e lie v e d , w ill be am p le fo r the c o m p a n y 's req u irem en ts fro m th a t field.
W ater-fron t P r o p e r tie s .— T h e c o m p a n y o w n s w a te r-fro n t pro p e rtie s at
S a n F ra n cis co (va lu e d at $ 5 0 0 ,0 0 0 ), at O le u m , at P o rt H a r fo r d , at A v ila ,
o n P o rt H a rford H a r b o r : at P'olnt S al, at V e n tu ra , at San P e d ro (th ro u gh
a ffilia te d c o r p o r a t io n s ), at P o r ts m o u th (P o r tla n d , O re.) an d San D ie g o ;
an d stora g e con n e c te d w ith w a te r tra n sp o rta tio n at S eattle, A s to ria , P o r t ­
la n d , San F ra n cis co , S t o c k t o n , O le u m . P o rt H a r fo r d , V e n tu ra , San P e d ro ,
San D ie g o , P a n a m a , C o lo n , H o n o lu lu and K lh el.
S h ip p in g .— T h e vessels o w n e d b y th e c o m p a n y (and Its subsidiaries)
h a v e th e fo llo w in g c a rry in g c a p a c it y (b a rre ls): S. S. San ta M aria, 5 2 ,5 0 0 :
S . S. S an ta R ita , 5 2 ,5 0 0 : S. S. L a n sin g . 5 0 .0 0 0 : S. S. A r g y ll, 3 0 ,0 0 0 ; S. S.
R o m a , 2 9 ,000; S. S. W a sh te n a w 2 9 ,0 0 0 : S. S. W h ittie r , 11,000; ba rk e n tln e
F u lle r to n , 1 6,000; ship San ta P a u la , 8 ,2 0 0 : s ch o o n e r W in g and W in g ,
B a rg e 9 , B arge 4 2 , B arge 1905, tu g T ra n sit, launch M ay launch D o r o th y .
R efin e rie s .— T h e c o m p a n y 's refineries at O leu m an d B akersfield h a v e
b een run t o th eir fu ll c a p a c ity d u rin g th e y e a r. T h e t w o p la n ts h a ve n o w
« c a p a c it y fo r h a n d lin g 5 ,0 0 0 barrels o f c ru d e o il p e r d a y .
P rogress D u r in g the Y e a r .— T h e c o m p a n y has pu rch a se d th e W h lttle r F u lle rto n oil fields In fe e , 2,562 acres; in th e San ta M aria field , th ro u g h
the N e w lo v e O il C o ., 3,350 acres, a large p o r tio n o f w h ich Is n o w p ro v e n
011 t e r rito r y ; 648 acres In th e L o m p o c field, w h ich Is also p ro v e n te r rito r y ;
and under l< ase In th e F u lle rto n d is trict, 2,536 acres, and in th e San ta M aria
•field 101 a c r is .
It has drilled 7 5 ,000 fe e t, th e m a jo r p o r tio n In S an ta Barb a r t C o u n t y , and has co m p le te d 27 p r o d u c in g w ells, th e m ost o f w hich are
fire p ro d u ce rs .
I t has ad d e d t o Its s torage plant fo r c ru d e o il, steel ta n k a g e
a m ou n tin g t o a b o u t 7 00 .000 barrels, in clu d in g 300 ,0 0 0 barrels on th e I s th ­
m us, an d t o its co\ ered re se rv o ir storage 500 ,0 0 0 barrels, '[’ he refinery at
O leum has been increased t o th ree o r fo u r tim e s its fo rm e r c a p a c it y .
O w nership o f S to ck .— Y o u r c o m p a n y has n o s to c k in eith er tne U n ion P r o v ­
id en t C o. o r U n ited P etroleu m C o.
N eith er d o e s It hold s to c k In eith er th e
A ss o c ia te d o r S tan d ard Oil c o m p a n ie s. T h e t w o latter c o m p a n ie s d o n ot
o w n stock In a n y o f th e co m p a n ie s h erein b efore m e n tio n e d .
T h e U n ited P e tro le u m C o. fo r so m e years held d ire ct c o n tr o l o f th e issued
s t o c k o f th e U n ion O il C o. o f C a liforn ia, bu t th ro u g h th e sales o f treasu ry
s t o c k b y y o u r c o m p a n y it lost this d ire ct c o n tr o l.
It h old s s to c k in several
o th e r c o rp o ra tio n s.
U nion P rovident C o .— T o allay th e fears o f a n u m b e r o f the s to ck h o ld e rs
I n y o u r c o m p a n y , w h o w ere an x io u s lest its c o n tr o l sh ou ld fall Into th e han ds
o f i m p n p e r p arties, th e U n io n P r o v id e n t C o. w as org a n ized Ju n e 20 1905
(V . 81, p. 5 6 4 ), w ith a ca p ita liz a tio n o f $ 5 ,0 0 0 ,0 0 0 (in shares o f $100 e a c h ) ,
a n d Its p u rp oses lim ited (aside from an In vestm en t fund o f $6,250 fo r e x ­
penses) to th e h o ld in g o f shares In y o u r c o m p a n y , fo r w hich It w as to e.\c h a iif e Its h old in g s, snare fo r share.
T o p r o v id e th e in v e stm e n t fu n d t o c o v e r th e e x p e n se o f p a y in g d iv id e n d s ,
12 H ce n ts per share in th e w a y o f a b o n u s Is c o lle c te d from th ose w h o e x c h a n g e th eir U n io n shares fo r th o s e o f th e P r o v id e n t.
O u r largest stock­
h old ers h a v e gen erally c o n v e r te d a large part o f th e ir U n io n shares Into
P r o v id e n t , an d w e re co m m e n d this cou rse t o th o s e In ten d in g th eir in v e s t­
m en t t o b e perm an en t.
P o l i c y .— T h e c o m p a n y w ill c o n tin u e its p o lic y o f seek in g fu rth e r t o
stren g th en Its a d v a n ta g e o u s p o s itio n .
T o d o th is, h o w e v e r, w ill d o u b tle ss
req u ire a con s id e r a b ly larger e x p e n d itu re th a n ca n be p ro v id e d fro m the
su rp lu s, if th e p r o p o s e d p la n , w h ich is b e in g c o n s id e re d , o f p a y in g o n e -h a lf
o f th e net earnings ea ch m o n th In d iv id e n d s , sh o u ld b e a d o p te d .
In p u r ­
su a n ce o f this line o f p o lic y , as w ell as th e p a y m e n t o f th e present flo a tin g
d e b t , th e c o m p a n y will p r o b a b ly o ffe r y o u in th e near fu tu re 2 ,0 0 0 « r 3,000
shares o f Its trea su ry s t o c k , t o g e th e r w ith 300 o r 400 o f U n io n T r a n sp o rta ­
t io n C o. b on d s.
R E S U LTS O F O P E R A T IO N S FO R C A L E N D A R Y E A R .
1906.
1905.
$264,621
$382 579
7 64 ,857
618 ,818

N e t earnings six m o n th s t o Ju n e 30
.
____
N e t earn in gs six m o n th s t o D e c . 3 1 ____________

N et ea rn in gs t w e lv e m o n t h s _____ $ 1 ,0 2 9 ,4 7 8
$1,001 397
T o ta l d iv id e n d s p aid t w e l v e m o n t h s ____ (a b t .8 % > 56 1,109 (a b t .6 % ) 392 ,556
B a la n ce , su rplu s fo r y e a r , used fo r b e tte rm e n t
an d in crea se o f p la n t ______________________
$46 8,36 9
$ 6 0 8,84 0
(T h e d iv id e n d rate w as in crea sed In F e b ru a rv 1905 fro m 2.7 % p er an n u m
( 2 2 H e . p er share m o n th ly ) t o 6 % per a n n u m (5 0 c. m o n t h ly ), In A p ril 1906




281

t o 9 % p e r a n n u m (7 5 c . m o n t h ly ), an d In M a y 1907 t o 1 2 % p e r annum.
($1 m o n t h ly ).— E d .]
S t o c k o u ts ta n d in g D e c . 31 1906, $ 7 ,1 4 4 ,7 0 0 , a g ain st $ 6 ,4 4 7 ,7 0 0 D e c . 31.
1905. N o b a la n ce sheet Is fu rn ish ed .
D ir e c to rs — L y m a n S te w a r t, W . L . S te w a r t, J . S. T o r r a n c e , J . H . A d a m s .
F . C. B o lt , W . R . S ta a ts, J o h n B a k e r J r ., W . F . B o t fo r d , F . A . G a r b u tt,
E d w in T . E a rl, G iles K e llo g g .— V . 8 4 , p . 1057.

Associated Oil Co., San Francisco, Cal.
{Report for Fiscal Year ending Dec. 31 1906.)
D irecto rs.— J. A . C h an slor, P re sid e n t; W . S . P o r t e r , 1st V lc e -P r e s . a n d
G en . M g r.; W . F . C h an d ler, 2d V lc e -P r e s .; B . E . G reen . T reasu rer; O . S c r ib ­
ner, A s s t. G en . M gr. an d S e cre ta ry ; F . H . B u ck , C. A . C a n field , E . T .
D u m b le , W . F . H e rrin , W m . G . K e rc k h o ff an d M . H . W 'h lttier.

The report, dated Feb. 19 1907, contains the following
explanatory remarks by Secretary Scribner:
R eal E state Owned and Controlled b y A sso cia ted Oil C o . and A ffilia te d d o 's .
K e rn R iv e r field (in fee) . 4 ,0 9 7 acres S an ta B a rb a ra fie ld (in fee) 358 acres
do
do
(leaseh old)
200 “
do
d o (leaseh old) 2 5 ,5 2 3 “
M c K lttr lc k field (In fee) _ 2,8 8 0 “
San L u is O b ’ o field (In fee) 2,2 0 0 “
C oa lin ga field (in f e e ) ----- 2,6 3 0 “
L os A n g e le s field (le a ’ h ’d ) 1,800 “
M ineral lo ca tio n s held b y A s s o c ia te d O il C o . and a ffilia te d c o ’ s . . 14,960 “
T o t a l ____________________ _______ ________ _______________ _________ 54,648 "
P erson al P ro p e r ty o f A ssocia ted O il C o . and A ffilia te d C om p a n ies.
227 p r o d u c in g w ells, to ta l p r o d u c t io n 1 9 0 6 _________________ 5 ,5 0 0 ,0 0 0 barrels
Steel sto ra g e ta n k s an d reservoirs, c a p a c it y ________________ 4,0 0 0 ,0 0 0
18 d is trib u tin g s ta tio n s in C a lifo rn ia , O re g o n , W a s h in g to n and H a w a iia n I ’d
18 d is trib u tin g s ta tio n s in C a l., O re g o n , W a s h , an d H aw a iian Isla n ds.
Oil on h an d In field and d is trib u tin g p la n t s _________________ 3,6 8 7 ,0 0 0 barrels
(A n increase o f 2 ,0 4 0 ,0 0 0 as c o m p a r e d w ith D e c . 31 1905.)
110 m iles o f p ip e lines fro m C oa lin g a t o M o n te r e y , an d la n d ,
ta n k a g e a n d w h a rf at M o n te re y .
35 m iles o f p ip e lines fro m S a n ta M aria t o G a v io ta , an d re ­
fin ery a t G a v io ta , d a ily c a p a c it y ____________________________ 9,0 0 0 barrels
V essels— SS. W . S. P o r te r . SS. R o se cra n s.
Ships— M arlon C h ilc o tt,
F alls o f C ly d e .
S ch o o n e rs— S a n tia g o , R o d e r ic k D h u an d M o n te r e y .
O ce a n -g o in g T u g — N a v ig a to r , T u g M ilto n ; B a rg es— 1, 2, 3 an d 4.
Oil P u rch a ses .— W e h a ve pu rch a se d e n o u g h oil t o c o v e r all o u r c o n t r a c ts
fo r fu tu re d e liv e ry an d will n o t h a v e t o call u p o n th e p r o d u c tio n o f o u r
te r rito r y fo r a n y o il t o fill e x is tin g s a le -co n tra cts .
A cq u isitio n o f N ew T e r r ito r y .— D u rin g th e past y e a r w e a cq u ire d 2.6 3 0
acres o f la n d in th e C oa lin ga field , w h ich b y r e ce n t d e v e lo p m e n t has p r o v e n
to b e first-class o il la n d .
T h ro u g h s u b sid ia ry c o m p a n ie s w e a cq u ired c o n ­
trol o f a large a creage o f v a lu a b le oil land in th e S an ta M aria field.
W e h a v e paid o n a c c o u n t o f p u rch a se o f real an d p e rson a l p r o p e r t y
$ 1 ,9 3 1 ,0 0 0 . th e greater p o r tio n o f w h ich sum w as o n a c c o u n t o f p u rch a se
o f M atson p ro p e rtie s, c o n s istin g o f fo u r oil ships, p ip e lin e fro m C oa lin ga
field, refin ery , & c ., and th e business o f th e N a tio n a l Oil * T r a n s p o rta tio n
C o ., C oa linga O il T ra n sp o rta tio n C o . a n d P a cific O il T r a n s p o rta tio n C o.
T h e c o m p a n y is in e x ce lle n t fina ncial c o n d it io n .
T h e p r ice o f o il has a d ­
v a n c e d b o th t o th e p r o d u c e r an d t o th e c o n s u m e r , an d th e dep ression In
p rice th a t e x iste d fo r th e past fe w years is a p p a r e n tly o v e r .
T h e fu tu re o f
th e business an d its p ro s p e r ity is u n q u e s tio n a b le .
IN C O M E A C C O U N T F O R C A L E N D A R Y E A R S .
1905.
1904.
1906.
f $ 3 ,3 5 2 ,1 8 8
T o ta l sa le s ____ ________________________ ]
$4,9 7 3 ,1 0 1 {
85 637
O th e r e a r n in g s _________________________ ^$6,509,787
I
80,5 4 2
V a lu e o f oil o n h an d at c o s t ___________ J
T o t a l _____ _________ __________________ $6.5 0 9 ,7 8 7
D ed u ction s—
T r a n sp o rta tio n e x p e n s e , & c _________ ]
R e b a te s on c o n tr a c ts t o origin a l o w n -!
era in e x ce ss o f 22 H e . p er b b l _____ !
P r o d u c t io n e x p e n se s, in clu d in g re-i
pa irs, & c ____________________________ $ 4 ,1 9 0 ,5 4 9
A d m in is tra tio n e x p e n s e s _____________ |
T a x e s , r o y a ltie s , in t. on lo a n s ________ I
O il p u r c h a s e s ___________________________ |
F reigh t p a id o n oil o n hand on D ee. I
31 19 0 4 _______________________________|
Oil oil hand Ja n . 1 1904 _____________ J
In terest o n b o n d s _______________. _ ..
7 8 ,943
D e p recia tion r e se rv e ___________________
328 ,752

$4,973,101

$ 3 ,5 1 8 ,3 6 7
$ 1 ,6 3 5 ,6 7 8
130,261

$2,9 5 0 795',

77 501
304 617

T o ta l d e d u c t io n s ____________________ $ 4 ,5 9 8 ,2 4 4
$ 3 ,3 3 2 ,9 1 3
G ain fo r y e a r _____________ ____. . .
$ 1 ,9 1 1 ,5 4 3
$ 1 ,6 4 0 ,1 8 8
D iv id e n d N o . 3 a m o u n tin g to $ 4 4 6 ,0 5 9 , w as p a id in 1906.

373 ,1 6 0
81,2 2 8
78,9 8 3
329 ,013
20 ,995
97 ,952
77,323
126 ,489
$ 2 ,8 5 1 ,0 8 2
$667,285

GE N E R A L B A L A N C E SH EE T D EC. 31.
1906.
1905.
J
1900.
1905.
Assets —
$
S
Liabilities—
$
Stk. in treas. and
Capita 1s tock _____ 40,000.000 22,838,404
disc, on treas.
B o n d s ___________ 4,625.000 1,579,545
stock s o ld .______17 ,974.444
................ Bills payable_____a‘2 ,512,250
2.017,250
Bonds in treasury. 3 0 (3.000
1 i s , 702 Audited vouchers
6634,362 1,872,327
Oil lands & leases 17 ,629,755 17,251,996 Due tor oil, & c.,
Personal prop. &
pu rchased_____
217,938
sundry in vest m . 6 ,154,069 7.144.646 Accounts payable.
47.627
Stk. in other c o s .. 5 119,027 5,167,246 Freight___________
36.423
45,588
Cash on hand____
86,196
15.100 Accr d Int. on bds
32,896
32,903
Bills receivable___ . _______
151.772 Res. o n ’05 busl'ss _________
15,000
Accounts receiv’ le
750.134
655,976 Contingent frt. lisi
__
...
34,869
Oil on hand. inel.
D eprec'n
reserve
cost of transp’n . 1 386,955
315,217
(Ind. affil, cos.
Surplus of affil cos.
380,926
324.260
’06, $ 10 6,37 8).869,116
540,364
S u rp lu s __________ 3.586.520 2.121.037

%

Total assets____52,514,500 31,114,914

Total

.52,514,506 31.144',914

a Includes bills payable to hank. $788.2.">0: hills payable on purchase of property
8570,500 in 1907 and SI ,147,500 In 1908,
b Since paid.

1’he directors on Feb. 18 1907 declared a dividend of $1 50
a share (1 }/£% ), payable March 1. In August 1900 the semi­
annual dividend was omitted. Compare V. 83, p. 1230,
381, 91.— V. 84, p. 510; V. 83, p. 1230.
California Oil Fields, Limited.
(Report for Fiscal Year ending Dec. 31 1906.)
Chairman Robert Balfour, at the sixth annual meeting,
held in London on May 8, said in part:
T h e c a p ita l o f th e c o m p a n y w h en o rg a n iz e d w as fixed at 300 ,0 0 0 shares
o f £1 e a ch , and at th a t tim e 2 5 0 ,0 0 0 shares w ere Issued.
In c o n fo r m it y
w ith the re so lu tio n a d o p te d at th e e x tr a o r d in a r y general m e e tin g o f sh a re­
h old ers, held o n D e c. 3 la st, th e ca p ita l has been Increased t o SOO.OOO
shares o f £1 e a c h , and In ord e r t o ca rry ou t th e p u rch a se o f a d d ition a l p r o p ­
erties an Issue o f 135,000 new shares and £ 3 0 0 ,0 0 0 o f 5 % d e b en tu res w as
m ade In J a n u a ry . O f th ese n ew shares, 125 ,000 w ere offered t o s h a reh old ­
ers w h o w ere on the register o n J a n . 9 , at £ 4 10 s., o r a pre m iu m o f £ 3 10 s.,
w h ich is co n s id e r a b ly u n d e r th e ir p resen t m a rk e t v a lu e : and these shares
w ere taken u p , w ith few e x c e p tio n s , b y th e sh areh old ers o r th eir n om in ees.
T h e d e b e n tu re s w ere p la c e d at 97 H •
T h e p rofit fo r th e y e a r Is £ 7 4 ,4 1 3 , w h ic h , w ith £ 1 1 ,3 0 3 b ro u g h t forw a rd
fro m 1905, leaves us w ith an a v a ila b le c r e d it b a la n ce o f £ 8 5 ,7 1 6 .
A n In­
terim d iv id e n d o f 1 0 % , a b s o rb in g £ 2 5 ,0 0 0 , w as p aid In O c t o b e r la st, an d
w e n o w p ro p o s e t o p a y a fu rth er an d final d iv id e n d o f 20 % on shares N os. 1
t o 250 ,0 0 0 , a b s o ib ln g £ 5 0 ,0 0 0 , t o a d d £ 1 0 ,0 0 0 t o reserve fu n d , an d t o c a r r y
forw a rd the rem ain in g ba la n ce o f £ 7 1 6 6s. t o th e cre d it o f n e x t a c c o u n t .
T h e d iv id e n d d is trib u tio n fo r th e y e a r, th e re fo re , w ill b e 3 0 % , an d th e
a m o u n t at th e cre d it o f reserve fund £ 4 0 ,0 0 0 .
D e v e lo p m e n t w o rk w as carried on a c tiv e ly d u rin g th e ea rly years o f th e
c o m p a n y ’s e x is te n ce ; b u t it reached a sta g e in 1905— as re p o r te d at last
m e e tin g — w h ich did n o t call fo r th e sam e rapid prog ress.
W e th en had 39
p r o d u c in g w ells on th e se ctio n s w h ich w e o rig in a lly o w n e d ; w e n ow h a ve 41.

282

THE CHRONICLE.

F u rth er g radu a l d e v e lo p m e n t Is g o in g o n , o u r o b je c t b e in g t o m a in ta in and
in crea se ou r p r o d u c t io n , w ith d u e reg ard t o m a rk e t c o n d itio n s an d th e re ­
q u irem en ts o f ou r sales, an d also to c o n sid e ra tio n s o f e c o n o m y in o u r o p e r a ­
tio n s .
T h e a d d ition a l p ro p e rtie s h a v e n o w t o b e d e a lt w ith as an Im p orta n t
p a i t o f o u r a rra n gem en ts, an d it w ill ta k e tim e t o b r in g th e ir o p e r a tio n in to
h a r m o n y w ith th e general sch e m e o f m a n a g e m e n t.
T h e re are fifteen p r o ­
d u c in g w ells on th e r e ce n tly -a cq u ire d p ro p e rtie s; so th a t w e n o w h a v e 56
w ells at th e p r o d u c in g stag e.
S o m e o f these n e w w ells, h o w e v e r , m a y h a v e
t o b e re c o n s tru cte d so as to brin g th e m up t o o u r sta n d a rd .
O u r p r o d u c tio n in 1906 w as n o t m a in ta in e d p r o p o r t io n a t e ly w ith th a t o f
th e p re v io u s six m o n th s o f 1905. T h e figures w ere 2 ,5 1 2 ,6 5 4 .5 8 barrels
an d 1 ,8 4 2,082.51 barrels fo r tw e lv e m o n th s an d six m o n th s re s p e c tiv e ly .
T h e reason w as n ot b eca u se w e w ere u n a ble t o m ain ta in o u r p r o d u c t io n ,
b u t beca u se m a rk et c o n d itio n s w ere su ch th a t o u r agen ts d e e m e d it ju d icio u s
t o cu rta il it
W e h a v e referred o n p re v io u s o cca s io n s t o th e rap id in­
crease in th e p r o d u c tio n o f p e tro le u m in C a liforn ia. T h e s u p p ly increased
m o r e q u ic k ly th a n th e d e m a n d , w ith th e n a tu ra l result th a t p rice s fell t o a
p o in t w h ich w as u n sa tis fa cto r y t o p ro d u c e r s and u n re m u n e ra tiv e t o th o se
w h o w ere n o t fa v o r a b ly situ a ted
T h e rapid g r o w th o f p r o d u c tio n ca n best
b e exem p lified b y th e fo llo w in g figures: In 1902 it w as 1 3 ,9 7 3 ,5 0 0 barrels;
in 1903, 2 4 ,3 3 7 ,8 2 8 barrels; in 1904, 2 8 ,4 7 6 ,0 2 5 barrels, an d in 1905, 35,671 .0 0 0 barrels. T h e c o n s u m p tio n o n th e P a cific co a s t has also g ro w n
r a p id ly ; b u t it c o u ld n o t b e e x p e c te d t o k eep p a c e wlt>h th ese figu res. T h e
p o p u la tio n is n o t large, freig h ts t o Im p orta n t cen tres o f c o n s u m p tio n are
c o m p a r a tiv e ly h ig h , a n d , as regards so m e o f th e m o st c o n v e n ie n tly situ a ted
fo re ig n m a rk ets, c o m p e titio n Is m e t w ith fro m o th e r sou rces o f su p p ly .
D u rin g 1906 circu m sta n ce s c h a n g e d . T h e p r o d u c t io n o f C a liforn ia
d im in ish ed t o a b o u t 3 0 ,5 0 0 ,0 0 0 barrels, p a r tly o n a c c o u n t o f lo w p rice s,
b u t also b eca u se th e y ie ld o f th e w ells in o n e o f th e m o s t im p o rta n t fields
fell o ff.
C o n s u m p tio n , o n th e o th e r h a n d , w as w ell m a in ta in e d , w ith th e
result th a t s tock s w ere g ra d u a lly a b s o r b e d , and to w a rd s th e en d o f th e y e a r
th e m a rk et assum ed a m o r e ch eerfu l a sp e ct. T h e se im p ro v e d co n d itio n s
w ere assisted b y t h e p o lic y o f cu rta ilin g p r o d u c t io n .
T h ese im p ro v e d
c o n d itio n s h a ve d e v e lo p e d fu rth e r d u rin g th e cu rren t y e a r , and o u r agen ts
h a v e m a d e large sales fo r d e liv e r y , e x te n d in g o v e r a co n sid e ra b le p e r io d ,
a t m u ch b e tte r p rices th a n h a v e be e n o b ta in a b le fo r sev eral y e a rs, an d fu ll
d eliv eries h a v e a c c o r d in g ly b e e n re su m e d .
T h ere is reason t o e x p e c t th a t
d eliv eries w ill be su b sta n tia lly increased.
Q u o ta tio n s fo r h igh -gra d e P e n n s y lv a n ia c ru d e oil are a b o u t $1 60 p e r
barrel and o f K a n sas c ru d e 40 ce n ts t o 50 ce n ts . C a liforn ia cru d e fo r fuel
pu rp oses w as q u o te d a y e a r a g o at 40 ce n ts p er barrel in b u lk , d e liv e re d t o
con su m ers In San F ra n cis co B a y .
T h e p r ice , a c c o r d in g t o o u r latest a d ­
v ic e s , is n o w 70 cen ts. T h e a n n u al c o n s u m p tio n b y th e railroad c o m p a n ie s
o p e r a tin g in C a liforn ia is s ta te d t o a p p ro x im a te 30,0 0 0 barrels d a ily , o r
e x c e e d in g 1 0 ,0 0 0 ,0 0 0 barrels an n u a lly. A p ip e line w as Installed d u rin g
th e p a st y ea r across th e Isth m u s o f P a n a m a , an d is e x p e c t e d t o en large th e
m a rk et fo r C a liforn ia o il.
S o fa r o n ly tw o o r three carg oes h a v e b e e n
s h ip p ed b y th a t r o u te .
S h ip m en ts o f illu m in a tin g o il fro m C a liforn ia t o
O rien tal m ark ets h a ve Increased, an d 24 cargoes are re p o r te d t o h a v e been
sh ip p ed d u rin g th e p a st y e a r , an d m ark ets in v a rio u s d ire ctio n s are ta k in g
in crea sin g qu a n tities o f th e c o m m o d it y in w h ic h w e are In te re ste d .— V . 8 4 ,
p . 1430. ^

American Cement Co. of New Jersey.
(Report for Fiscal Y ear ending Dec. 31 1906.)
President Robert W . Lesley, under date of Philadelphia,
Ja n .2 190 7 ,said:
G eneral R esu lts.— T h e to t a l sales o f y o u r m a n u fa c tu r in g co m p a n ie s
d u r in g th e y e a r 1906 w ere 1 ,6 4 1 ,1 1 7 b arrels, again st 1 ,3 2 0 ,6 4 3 barrels in
1905.
T h e a ggregate o f sales o f all y o u r co m p a n ie s , in clu d in g th e fo re ig n
and o th e r c e m e n t h a n d le d th ro u g h y o u r selling d e p a rtm e n t, rea ch ed a b o u t
1 .7 5 0 .0 0 0 barrels.
T h e e x p e c ta tio n s o f larger o u t p u t , b e tte r p rices and
c o r re s p o n d in g ly b e tte r p ro fits h a v e b e e n m e a su ra b ly realized.
T h e n et
ea rn in gs a p p lic a b le t o d iv id e n d s , a fte r th e d e d u ctio n o f d e p r e c ia tio n and
all ch a rges, w ere equ a l t o 1 4 .4 % u p o n y o u r s to c k .
N ew A l l ll .— A strike o f iron w ork ers d e la y e d th e c o m p le tio n o f the n ew
“ R e lia n ce M ill,” w h ich did n o t g o in to o p e r a tio n u n til J u ly 1906.
D u rin g
th e fiv e m o n th s o f th e cu rren t y e a r in w h ich th e m ill w as in o p e ra tio n Its
o u t p u t , b o th In q u a n t it y an d q u a lity , w as fu lly up t o e x p e c ta tio n s .
It is
c o n fid e n tly b eliev ed th a t th ere is n o m ore p e r fe c tly a p p o in te d c e m e n t m ill
in th is c o u n t r y , n o r on e c a p a b le o f p r o d u c in g a h igh er grade o f c e m e n t at

less cost.

i\oriu A m erica n P ortlan d C em ent C o .— A n im p o rta n t d e v e lo p m e n t d u rin g
t h e y ea r w as th e settlem e n t o f th e litig a tio n o v e r th e p a te n ts c o v e r in g coal
b u rn in g in th e “ r ota ry k iln ” pro ce ss o f c e m e n t m a k in g .
T h is c o m p a n y ,
an d fo u r o f th e oth er largest c e m e n t-p r o d u cin g co m p a n ie s , h a v e a c k n o w l­
ed g ed th e v a lid ity o f these p a te n ts , and an a rran g em en t has been m a d e b y
w h ich e x c lu s iv e licen se righ ts h a ve been "a sslgn ed t o a n e w ly in co rp o ra te d
c o m p a n y u n d er w h ich w e an d th e o th e r c e m e n t co m p a n ie s , p arties t o th e
a g reem en t, h a v e b e c o m e su b -licen sees on th e basis o f a sm all r o y a lt y per
barrel.
T h e a g reem en t u n d e r w h ich th is s a tisfa c to r y result w as reach ed
m ak es y o u r c o m p a n y and fo u r o th e r co m p a n ie s s to ck h o ld e rs in this new
N o rth A m e rica n P ortla n d C em en t C o .. to g e th e r w ith the A tla s P o rtla n d
C em en t C o .— th e ow ners o f th e p a te n ts .
T h e p re se n t c a p ita l o f th e N orth
A m e r ic a n C o. Is $ 5 ,0 0 0 ,0 0 0 , and this ca p ita l, as p a id In, w ill be u tilized in
th e c o n s tr u c tio n o f n ew m ills in d istricts w h ere th e p rice o f c e m e n t is at
p resen t u n d u ly h igh .
T h e arran g em en t re m o v e s a m e n a cin g fe a tu re , and
w ill ten d t o s ta b ility in th e tra d e , w hile at th e sam e tim e servin g th e in ter­
ests o f b o th p rod u cers an d con su m ers.
(See also V . 8 4 , p . 163; V . 83,
p.

1 4 1 6 .)

h eiiu n ce C em ent C o .— T h is c o m p a n y t o o k o v e r th e p la n t o f th e C entral
C em ent C o . , an d also c o n s tr u c te d a n e w m ill larger and m ore c o s t ly th a n
a n y o f th e th en ex istin g m ills o p e ra te d b y y o u r c o m p a n y . T h e c a n ce lla tio n
d u r in g th e y e a r o f its 515 ,000 b o n d s has r e d u ce d th a t issue t o $ 5 8 5 ,0 0 0 ,
and y o u r c o m p a n y , b y th e exe rcise o f its o p t io n t o p u rch a se , has a cqu ired
th e $24 0 ,0 0 0 co m m o n s to c k o u ts ta n d in g in th e han ds o f o th e r p arties,
m a k in g it th e o w n e r o f m o re th a n o n e -h a lf o f th e p referred s to c k ($157,500
o f th e to ta l o f $300,000) and th e en tire $50 0,00 0 c o m m o n s to c k . T h e p u r ­
ch a se o f th ese secu rities has op e ra te d t o re d u ce th e surplus o f cu rren t
assets, b u t has cor re s p o n d in g ly Increased y o u r in v e s tm e n t in b o n d s and
sto c k s o w n e d .
T h e Pveliance C em en t C o. is th e o w n e r o f all th e securities
Issued b y th e C en tral C em en t C o ., w ith th e e x c e p tio n o f $5,500 o f b o n d s
m a tu rin g D e c. 1 190 7, a g a in st w h ich a lik e a m o u n t o f b o n d s o f th e R e lia n c e
C em en t C o. are reserved .
T h e securities o f th e R e lia n ce C em en t C o. are,
th e r e fo r e , w ith this e x c e p t io n , th e o n ly securities o f a n y c o n s titu e n t c o m ­
p a n y n o w o u ts ta n d in g in th e han ds o f th e p u b lic .
O utlook.— I'he o u tlo o k fo r th e cu rren t y e a r is w h o lly e n co u ra g in g .
W ith
th e n ew R e lia n ce Mill in full o p e r a tio n , to g e th e r w ith a d d itio n s t o th e o th e r
m ills, y o u r o u tp u t sh ou ld b e v e r y larg e ly in e x cess o f th e o u t p u t o f last y e a r,
an d th e presen t p r ice o f ce m e n t is in e x cess o f th e p r ice p r e v a ilin g a y e a r a go.
C O M B I N E D I N C O M E A C C O U N T , A L L C O M P A N I E S , F O R Y E A R 1906.
1906.
1905.
1904.
N e t earnings o f su b sid ia ry co m p a n ie s
fo r y ea r e n d in g N o v . 3 0 ____ ________
$ 4 2 0,18 3
$ 1 9 8,81 5
$20 6,18 9
E stim a ted n et earn in gs o f C entral
C em en t C o. in D e c e m b e r ___________
__________
10,000
10,000
^
---------------------------------------- ---------------------JV*
$ 4 2 0 ,1 8 3 ,
$20 8 ,8 1 5
$216,189
D ed u ct—
B o n d Interest and sin kin g fu n d A m .
C em en t C o. o f N . J ., p aid an d a c ­
cru ed t o D e c. 31 (in clu d in g $32 ,000 in 1 9 0 6 )_________________________
68,960
71 410
75,025
C en tral C em ent C o. b o n d in te re s t ____
660
3,500
4,600
B o n d in t. an d sin k in g fu n d R e lia n ce
C em en t C o. t o N o v . 30 (in clu d in g
$ 1 5 ,0 0 0 b on d s c a n c e le d )___________
a 3 7 ,5 0 4
__________
__________
C en tral C em en t C o. d iv id e n d s ________
__________
16,000
1 6 ,0 0 0
R e lia n c e C em en t C o. d iv id e n d on p re f.
s t o c k _________________________________
&9 888
__________
__________
A m e r ic a n C em ent C o. o f N ew Jer­
s e y , e x p e n s e s ________________________
15,512
12,630
11,964
A m e rica n C em en t C o. o f N e w Jer­
s e y , d iv id e n d s ........ .............................. - ( 7 % ) 1 4 0 ,0 0 0 (6 % ) 1 2 0 ,0 0 0 (7 % ) 140,000
T o ta l d e d u c t io n s .....................................
$27 2,52 4
$22 3,54 0
$24 7,58 9
B a la n ce , su rp lu s____________________
147,659
d e f . 14,725
d e f.3 1 ,3 9 9
S u rplu s a c c t . S ep t. ’ 99 t o en d y e a r ___
375 ,4 5 6
227 ,7 9 6 *
242 ,5 2 2
S u rp lu s A m e rica n C em en t C o ., N e w
ijj
J ersey , D e c. 3 1 ............. ......... ............99,991 ^
1 8 9 ,5 7 2 g g 101 ,897
-----------“ • ISM
>
a A ft e r d e d u c tin g 5 1 ,5 3 3 . accru e d ch arges C en tral C em en t C o. fo r D e c.
1 9 0 5 .^ & A ft e r d e d u ctin g $11 ,025 receJvM b y A m . C e m e n tiC o . o f N . J. ..,




[V o l .

lxxxv

.

CO M BIN ED G EN ER AL B A L A N C E SH E E T, A L L C O M P A N IE S , N O V . 30.
1906.
1905.
1906.
1905.
$
Liabilities—
-4. ssets__
S
S
$
aProperty acc’t ___4,310,620
3,227,627 Capital stk. (Amer.
Lesley <fc Trinkle
CementCo. ofN .J.)2,000,000 2,000,000
Co., add. invest.
50,000
50.000 1st M. 5% gold bonds
O th. stks. & bds__ 6863,500
(Am.Ce. of N .J .). 760,000
792,000
Central Cement Co.
Oth. stks. A b o n d s .c l,605,500
60.000 |R es’ves for doubtful
b o n d s .............. ..
Cash ____________
63,4821
acc'ts & bags, &c_
28,951
70.317
51,800
1,600 |Bills payable_______
160,708
Bills receivable___
1,294
10,000
Sundry a cco u n ts..
303,573 Sundry acc’ ts p a y 'le . 250,974
417,899
125,555
Central Cement Co.
90,602 j Int. & sink, fund
Norcross Bros, pro­
(Am . Cem. Co. of
perties, bond s. _
1,049!
N. J .) accrued____
13,833
14,100
Mats. ,suppls., A c .
198,074
122,550 IBond int. & div. on
1,109
pref. stk. Rei. Cem.
Suspense account1,888
R el. C. Co. organ­
f Co.............................
22,627
............
4,826
................ In t., sinking fund &
ization expense.
_____
992 : div. o f Ceat. Cem.
Deferred charges.
Co. accrued______
______
29,800
899,329
Profit and loss______ 1,075,823
Total assets____ 5,918,417

3,922,584:

Total liabilities. ..5 ,9 1 8 ,4 1 7 3,922,584

a Plant, m achinery, real estate in Pennsylvania, New York and Virginia, cement
and limestone quarries, patents, railroad rights of w ay, floats, tools, trade-marks,
good-will, A c ., .fee.
6 Including Reliance Cement Co. preferred stock, $157,500; com m on stock (entire
issue), $500,000; and bonds $5,500; Central Cement Co. common stock (entire issue),
$200,000; North A m erican Portland Cement C o ., preferred stock, $100, and com m on
stock, $400.
c Includes Reliance Cement C o., preferred stock, $300,000; com m on stock, $500,000; first m ortgage 6 % bonds, $585,000, and mortgage on land, $15,000. Central
Cement Co. com m on stock, $200,000, and first m ortgage 6% bonds, $5,500.— V. 84,
P . 160.

Manila Electric Railroad & Lighting Corporation.
(Report for Fiscal Year ending Dec. 31 1906.)
President Charles M. Swift, New York, June 1 1907, says:
In addition to providing three dividends of 1 % each during the year 1 9 0 6 ,.
t h j c u ip ^ ia t io a s e p t u s has u e tn inei eased b y o v e r $ 59 ,u 00 .
I t is u elieved
ih a t th is g r a t ify in g e x p a n s io n w ill c o n tin u e an d w ill p r o b a b ly b e e x c e e d e d
d u r in g th e c o m in g y e a r.
T h e p h y s ica l c o n d it io n o f th e p r o p e r t y is e x c e l­
le n t an d th e o p e r a t io n is u n iv e rsa lly co m p lim e n te d b y th e rid in g p u b lic ,
th e v e r y b e st fe e lin g p r e v a ilin g in M anila b o t h in o ffic ia l and p r iv a te circles
to w a rd s th e m a n a g e m e n t.
T h e tra n sfe r o f lig h tin g p r o d u c t io n fro m th e E le c tr ic is ta p la n t t o th e n ew
p o w e r h o u s e has be e n e n tire ly a c c o m p lis h e d , w ith th e resu lt th a t a c o n s id ­
era b le s a v in g Is b e in g e ffe c te d in o p e r a tin g e xp en ses
T h e e n tire s t o c k o f th e M an ila S u b u rb a n R a ilw a y s C o. has b e e n a c q u ir e d
b y th is c o r p o r a t io n . W h ile th e s u b u rb a n line has be e n co m p le te d o n ly as
fa r as F o r t M c K in le y , th e first m o n t h ’ s o p e ra tio n s sh o w m o st e n c o u r a g in g
resu lts.
I t Is, o f co u rs e , t o o e a rly t o d ra w p o s itiv e in feren ces fro m p a rtia l
o p e r a tio n d u r in g so sh o rt a p e r io d , b u t o u r G en eral M an ager agrees w ith
th e P re sid e n t th a t th e e stim a te h e re to fo re m a d e , th a t this e x te n s io n w o u ld
earn t w ic e Its in te re s t, w ill b e v e r y c o n s id e r a b ly e x c e e d e d .
T h e S u b u rb a n
C o m p a n y has r e c e n t ly a cq u ire d a fra n ch ise t o b u ild a b ra n ch lin e fro m a
p o in t o n t h e M anila e x te n s io n t o T a g u ig a n d th e L a g u n a d ’ B a y , b u t w ork
w ill n o t b e c o m m e n c e d u n til th e d ire cto rs are In p o sse ssio n o f a c o m p le t e
r e p o r t d e m o n s tr a tin g th e a d v is a b ility o f th e v e n tu r e .
C O N S O L ID A T E D S T A T E M E N T O F E A R N IN G S A N D E X P E N S E S
F O R 12 M O N T H S E N D I N G D E C 31 1906.
G ross E a rn in g s—
$
I O pera tin g E x p e n s e s —$
E le c tr ic lig h t an d p o w e r ____ 3 8 1 ,1 2 0 ! E le c tr ic ligh t a n d p o w e r _____ 184,321
R a il w a y _______________________ 5 1 3 ,8 4 0 ! R a i l w a y _______________________ 269,361
T r u c k i n g _____________________ 1 5 ,5 1 4 1T r u c k i n g ______________________1 4 ,1 6 7
T o t a l ..........................................9 1 0 ,4 7 4 1
T o t a l ...................................... . . . 4 6 7 , 8 4 9
N e t e a r n in g s ------------------------------------------------------------------------------------------------442 ,625
In te r e s t o n b o n d s _________________________________________________________ 233,2 08
S u rp lu s fo r tw e lv e m o n th s ____________________________________________ 209 ,417
M A N I L A E L E C T R IC R R . & L I G H T I N G C O R P . (H O L D IN G C O M P A N Y )
C O N S O L ID A T E D B A L A N C E S H E E T D E C . 31 1906.
S to ck s & b on d s o f su b . c o s l0 ,6 3 2 1 0 7 1C a p ita l s to ck issu e d _______ 6 ,0 0 0 ,0 0 0
A d d ’s to prop, o f su b. c o s .
13 .* > 2 9 1t in h an d s o f tru stees fo r
C a sh ________________________
127,395| be n e fit o f c o ,, $1,000,000 ]
T o t a l all o th e r cu rre n t assets 3 7 7 ,7 8 6 1B o n d s (a u th $ 5 ,0 0 0 ,0 0 0 ). 4 ,7 8 5 ,0 0 0
iA c c r u e d In te re s t_________
7 9 ,7 5 0
D iv id e n d Ja n . 10 1 9 0 7 ..
5 0 ,0 0 0
I O th er cu rre n t lia b ilitie s ___
80,971
|S u r p lu s ____________________
279 ,496
T o ta l assets....................... 11,275,217|
— V . 8 4 , p . 868.

T o t a l lia b ilitie s ..

.1 1 ,2 7 5 ,2 1 7

American Glue Company, Boston.
(Report for Fiscal Year ending M ay 31 1907.)
The annual results compare as follows:
1 9 0 6 -0 7 .
1 90 5-0 6.
190 4-0 5.
N e t . . ............. - ....................... - ......................
$ 2 8 1,91 2
$23 1 ,1 5 7
$ 2 1 8 ,9 1 5
D e p r e c i a t i o n _________ ______ __________
8 0 ,000
5 0 ,0 0 0
2 8 ,773
D iv id e n d s , 8 % on p r e fe r r e d __________
104 ,154
104 ,072
103 ,952
D iv id e n d s on c o m m o n ........................... ( 5 % ) 4 0 ,0 0 0 ( 4 % ) 3 2 ,0 0 0 (4 % ) 3 2 ,0 0 0
S u rp lu s fo r y e a r .
P r e v io u s s u i p l u s - .
T o t a l s u r p lu s e n d o f y e a r ___________

$57 ,758
701 ,6 9 4

$45 ,0 8 5
1 96 ,608

$ 5 4 ,1 9 0
142 ,4 1 9

$ 7 5 9,45 2

$ 2 4 1,69 4

$19 6,60 9

An extra dividend of 1% was paid on the common stock
on May 1 1907 with the semi-annual distribution of 2 % ,
making 5 % for the year.
B A L A N C E SH E E T A S O F M A Y 31.
1907.
1906,
1907.
1906.
1
S
Assets—
$
$
1 Liabilities—
$
Cash <&•acc’ ts pay’bie 834,734
720 .5891Preferred stock ......1 .304,300 1,304,300
800,000
Mdse, mauuf’d and in
|Common sto ck _______ 800,000
916,682
process ..................1,087,193
1,220,2191 D e b its............... ........................983,081
Real estate, m ach’y
IReserved for working
460,000
and fixtures............ 448,212
456,4201 c a p it a l.......................................
Stocks ow ned______ 710,294 641,847! Profit & loss surplus.
759,452
241.694
Patent rights and
good w ill......... ..
700,000
750,0001
T o t a l ____________ 3,780,435 3,789,0751
— V. 83, P. 153.

T o t a l .................... .3,780,435 3,789,075

American Printing Company.
(Balance Sheet June 1, Filed in Massachusetts.)
190 7.
1 90 6.
I
1907.
1006.
t
£
<
A ssets—
5 2 5 .0 0 0
5 2 5 ,0 0 0 !C a p ita l s t o c k . . . 7 5 0 ,0 0 0
7 5 0 ,0 0 0
R eal e s t a t e ___
22 5 .0 0 0
2 2 5 ,0 0 0 ] D e b t s ___________ 4 ,6 2 5 ,6 9 9 4 ,7 4 5 ,6 5 4
M a c h i n e r y ___
6 8 8 ,3 4 7 S .4 2 6 ,7 2 0 |S u r p l u s ................3 .6 8 0 ,7 2 2 3 ,6 3 4 ,9 2 0
M e r c h a n d i s e ___
Cash & d e b t s r e c 5 ,6 1 8 ,0 7 4 2 ,9 5 3 ,8 5 4 i
S tk . in Fall R iv .
Ir o n W o r k s - . 2 ,0 0 0 ,0 0 0 2,000,0001
__________
T o t a l .................. 9,0 5 6 ,4 2 1 9 ,1 3 0 ,5 7 4 |

T o t a l ................... 9.0 5 6 ,4 2 1 9 ,1 3 0 ,5 7 4

THE CHRONICLE.

A u g. 3 19 07 .]
California Wine Association.
{Balance Sheet Dec. 31.)

1906.
1905.
I
1906.
1905.
C;
e
A QQpf9—
C
C
I T.inJyil'ilif'S__
Invent, of wines, &c_2,146,289 2,596,2051 Capital stock ..............4,354,200 4,354,200
Bills & acc’ts receiv. 601,S64
539,403 |Bonds issued..............1,485,000 1,443,000
______ IS u rp iu s_____________ 820,000 810,000
Adjusted ins. claim s. 328,123
Stock in other cos __ 4,102.233 4,072,005 IContingent reserv e..
______
250,000
Plant, m ach 'y , & c_. 688,190
958,706 IRes. for uncoil, in s .. 328,123
Taxes and insurance
|Bills payable_______
703,500 1,229,567
accounts__________
29,705
22,6 2 0 !Grape
wine acc’ts . <2144,081 d154,201
Cash in banks............
97,595
84,745|Bond interest______
23,404
|Sundry accounts___ 135,691
32,776
Total

..........7,993,999 8 273,744]

T o t a l ....................... 7.993,999 8,273,744

d N ot due or discountable.— V . 83, p. 269.

GENERAL INVESTM ENT N EW S.
RAILROADS, INCLUDING STREET ROADS.
Atchison Topeka & Santa Fe Ry.— Remainder of Con~
vertible Bond Issue Sold.— The company has sold to J. P. Mor'
gan & Co. at a price rumored to be 98 or 98K the remainder)
about $15,000,000, of the $26,000,000 5 %
con vert­
ible bonds which was not taken by the stockholders under
their recent option. (V. 84, p. 1051, 1112; V. 85, p. 97.)
J. P. Morgan & Co. are offering the bonds at 1 0 0 ^ and
interest.
Opening of Belen Cut-Off.— A press dispatch from Amar­
illo, Texas, states that the company’s Belen cut-off, from
Rio Puerco, near Albuquerque, New Mexico, to Texico, a
distance of 268 miles, built under the charter of the Eastern
Railway of New Mexico, will be turned over to the operating
department for freight service about Aug. 15, giving the
company a new route from Albuquerque to the East. See
map on page 12 of “ Railway & Industrial {Section” . The
dispatch says:
T h e re w ill b e a s a v in g o f o n ly 11 m iles in d is ta n c e , b u t th e im p o rta n ce
o f th e n ew r o u te lies in th e fa c t th a t th e h e a v y grades o f th e L a J u n ta (o r
n orth ern ) r o u te are a v o id e d .
T h e la tte r ro u te crosses t w o s u m m its , o n e
a t R a to n P a ss, w h ic h Is 7 ,6 0 8 fe e t a b o v e sea le v e l, a n d th e o th e r a t G lo r e ta ,
w h ic h Is 7,421 fe e t a b o v e sea le v e l.
B e tw e e n th ese t w o su m m its th e
a ltitu d e is 5,911 fe e t.
T h is m a k e s t w o ste e p grad es w h ic h run as h ig h
as 3.5 % . T h e h ig h est p o in t r e a c h e d on th e n e w line is 6,492 fe e t, a n d th e
m a x im u m g ra d e is 1 .2 5 % .
It is s ta te d th a t it m a y b e several m o n th s
b e fo r e th e n ew r o u te is used fo r p a ssen g er tr a ffic , b u t it is t o be p u t t o
Im m ed ia te use fo r th e b u lk o f th e th ro u g h fr e ig h t.— V . 8 5 , p . 97.

Buffalo Rochester & Pittsburgh Ry.— Dividend Change.—
The directors on July 29 declared a semi-annual dividend of
on the common stock, payable Aug. 15 to holders of
record Aug. 5. This is a reduction of
of 1% from the dis­
bursement made on Feb. 1 last.
The Mahoning Investment Co. lias declared a dividend of
2 % , payable Sept. 3 to holders of record Aug. 20.
The reduction in the amount of the dividend on the
common stock is precisely offset by the dividend on the stock
of the Mahoning Investment Co., which in December last
was distributed to the railway stockholders at the rate of
25% of their holdings in connection with the transfer to the
Investment Company of the coal properties of the railroad.
Equipment Bonds.— The New York State Public Service
Commission has authorized the company to issue on account
of new equipment-the remaining $1,300,000 of its authorized
issue of $3,000,000
equipment bonds, series F, dated
1907 and due April 1 1927. Compare V. 84, p. 1365.—
V. 85, p. 39.
Buffalor& Susquehanna Ry.— Sale of Equipment Trusts.—
The company has placed through Fisk & Robinson, New
York and Boston, $1,200,000 5 % equipment trust securities.
These securities were quickly absorbed on’a 6 ^ % b a s is ,th e
entire amount being disposed of within a few days after their
purchase by the banking house. The firm sold $300,000 of
the foregoing in one block to a Philadelphia house; these, it
is understood, were car trust certificates issued on the Phila*
delphia plan and guaranteed, principal and interest. The
other $900,000 are equipment bonds, regarding which a
circular says:
** T h ese b o n d s are a 'd ir e c t o b lig a tio n o f th e B u ffa lo & S u sq u eh an n a R a ilw a y
C o.
T h e y are d a te d A u g . 1 1907 an d m a tu re in t w e n ty sem i-an n u al
In stallm en ts o f $ 4 5 ,0 0 0 e a ch fro m F e b . 1 1908 t o A u g . 1 191 7, b o t h in clu siv e .
P e n n s y lv a n ia C o. fo r In su ran ces o n L iv e s & G ra n tin g A n n u itie s , P h ila d e l­
p h ia , tru stee.
In te re s t p a y a b le F e b . 1 an d A u g . 1 at th e o ffic e o f F isk &
R o b in s o n , N ew Y o r k .
D e n o m in a tio n $ 1 ,0 0 0 . T h e c o m p a n y has arran ged
t o p u rch a se 20 a d d itio n a l lo c o m o t iv e s , 800 steel coa l an d c o k e cars an d 200
steel u n d er-fra m e b o x cars at a to t a l c o s t o f a b o u t $ 1 ,4 0 0 ,0 0 0 .
$ 1 ,2 0 0 ,0 0 0
eq u ip m e n t tru st b o n d s , t o b e d a te d A u g . 1, are t o be Issued t o p r o v id e fo r
p a r t o f th e c o s t o f th is e q u ip m e n t.
O f th is a m o u n t $ 3 0 0,00 0 h a v e be e n
sold In on e b lo c k as a sep arate series. T h e $9 0 0 ,0 0 0 d e scrib e d a b o v e are
s p e cifica lly secu red b y th e fo llo w in g s ta n d a rd e q u ip m e n t: 15 lo c o m o t iv e s ,
375 steel g o n d o la ca rs , 150 steel h o p p e r b o t t o m co a l cars, 75 steel c o k e cars
andJlaO steel u n d e r-fra m e b o x c a r s .— V . 84, p . 270.

Canadian Northern Ry.— Equipment Bonds Offered.— The
Wisconsin Trust Co. are offering at a price to yield 6 % a
block of first mortgage 4J^% gold bonds of the Imperial
Rolling Stock Co., Ltd., guaranteed, principal and interest,
by the Canadian Northern Ry. Co. Authorized and issued,
series “ O,” $1,500,000. An advertisement says:
• P a y a b le In ten ann ual in stallm en ts o f $150,000 e a c h o n Ju n e 1 o f e a ch
y e a r fro m 1908 t o 1917 in clu s iv e .
D e n o m in a tio n s $500 an d $1,000 (c * ).
In terest p a y a b le Ju n e 1 an d D e c . 1 in N ew Y o r k , T o r o n t o an d L o n d o n , E n g .
P r in cip a l p a y a b le In N ew Y o r k an d T o r o n t o . Issu ed a g ain st ro llin g s to c k
c o s tin g $ 2 ,0 0 0 ,0 0 0 .
T h e ra ilw a y c o m p a n y jo in s In th e m o r tg a g e and
ob lig a te s Itself to p a y all th e b o n d s and Interest as d u e ; this c o v e n a n t also
a p p e a r in g in th e b o n d s .— V . 84, p . 1427.

Central Vermont R y.— Form of Guaranty.— The first mort­
gage guaranteed 4 % bonds due 1920 carry the following
guaranty engraved thereon:
" I n jc a s e th e g ross r e c e ip ts o f th e C en tral V e r m o n t R a ilw a y C o . fo r all Its
bu sin ess shall b e in su fficie n t in a n y y e a r t o e n a b le it t o m e e t an d p a y its
w o rk in g e x p en se s, ta x e s and o rd in a r y repairs (in c lu d in g in su ch exp e n se s
a n d repairs, ren ts, Insu ran ce, e sta b lish m e n t c h a r g e s , all such a lte ra tio n s
a n d repairs as m a y b e n e ce ssa ry t o k e e p its lin e , ro llin g s to c k and w o rk s in




283

first-rate c o n d it io n , b u t n o t in c lu d in g im p ro v e m e n ts o r a d d itio n a l e q u ip ­
m e n t ) , a n d th e in terest o f th e said first m o r tg a g e b o n d s a t th e tim e o u t s t a n d ­
in g as th e said e x p e n se s, t a x e s , repairs a n d in terest re s p e c tiv e ly b e c o m e d u e
and p a y a b le , th e n th e G rand T ru n k R y . C o . w ill p a y t o th e tru s te e fo r th e
tim e b e in g o f th e said In d en tu re o r m o r tg a g e , fo r th e be n efit o f h old ers o f
s u ch b o n d s in p r o p o r t io n t o th e a m o u n ts th e r e o f h e ld b y th e m r e s p e c tiv e ly
su ch sum o f m o n e y as w ith th e resid u e o f th e said g ross r eceip ts o f th e
C en tral V e r m o n t R a ilw a y C o m p a n y shall b e su ffic ie n t fo r th e p a y m e n t
o f th e said in terest in fu ll, p r o v id e d a lw a y s th a t th e a m o u n t th a t th e
G ra n d T ru n k R y . C o. shall b e so lia b le t o p a y on a c c o u n t o f su ch in terest
p a y a b le In a n y c a le n d a r y e a r shall n o t e x c e e d 30 % o f its sh are o f th e gross
earnings fro m th e t r a ffic In terch an g ed b e tw e e n th e twro c o m p a n ie s d u rin g
th e last p e r io d o f t w e lv e m o n th s fo r w h ich an a c c o u n t th e r e o f shall h a v e
been ta k e n an d s e ttle d , o r if n o such a c c o u n t shall h a v e been ta k e n an d set­
tle d w ith in t w e lv e m o n th s e n d in g on th e d a y w hen a n y su ch in terest shall
b e p a y a b le ,t h e n d u rin g th e last m e n tio n e d t w e lv e m o n th s , a c c o r d in g t o an
a c c o u n t t h e r e o f t o b e ta k e n a n d se ttle d . ’
[T h e fu ll in terest h a v in g b e e n earn ed an d regularly p a id b y th e C en tral
V e r m o n t R y . C o ., n o a d v a n c e s h a v e b e e n m a d e b y th e G rand T ru n k R y . C o.
u n d e r th is g u a r a n ty .
F o r all sum s p aid b y th e G ra n d T ru n k R y . C o. u n d er
th e g u a r a n ty , It is e n title d t o h a v e and r e c e iv e an eq u a l a m o u n t o f th e in ­
terest c o u p o n s , b u t it is n o t e n title d t o re ce iv e p a y m e n t [ o f su ch c o u p o n s
fro m th e C en tral V e r m o n t R y . C o . u n til s u ch tim es and t o su ch e x te n t as
th e earnings o f th e c o m p a n y , o v e r an d a b o v e all o p e ra tin g exp en ses an d
cu rre n t in te re st o n b o n d s o u ts ta n d in g , w ill e n a b le It t o p a y th e sam e.
In case o f fo re clo s u re o f th e m o r tg a g e , th e in terest c o u p o n s held b y th e
G ra n d T ru n k R y C o. are n o t en title d t o p a y m e n t until a fte r th e p r in cip a l
o f th e m o rtg a g e d e b t and all o t t e r u n p a id in terest c o u p o n s h a v e been p a id
in fu ll.— E d .]— V . 84, p . 930 .

Chesapeake & Ohio Ry.— New Mortgage Authorized.— The
shareholders at their meeting on July 31 duly approved the
making of a new $10,000,000 general improvement and equip­
ment mortgage. See particulars in V. 85, p. 39, 98, 159, 220.
Chicago & Alton RR.— Called Bonds.— Twenty ($20,000)
Mississippi River Bridge Co. bonds will be paid Oct. 1 1907
at the First National Bank, New York.— V. 85, p. 159.
Chicago Electric Traction Co.— Sold.— At foreclosure sale
on July 29 this company’s property was bid in for $350,000
by Attorney H. C. Bangs, representing the Chicago & South­
ern Traction Co. interests. Compare V. 85, p. 159.
Chicago & Southern Traction Co.— See Chicago Electric
Traction Co. above and in V. 85, p. 159.— V. 84, p. 1052.
Chicago Terminal Transfer Co.— Reported Bids for M inority
Preferred Shares.— There has recently been current an uncon­
firmed rumor that bids of $30 a share have recently been
made to minority stockholders for their preferred stock, it
is supposed by or in the interest of the Baltimore & Ohio
RR .— V. 84, p. 1307.
Chicago & Wabash Valley RR.— Sold.— See Lake Shore &
Michigan Southern Ry. above.
Cleveland Southwestern & Columbus Ry.— Acquisition.—
This company has purchased 5,050 shares (par $100) of the
common stock of the Mansfield Railway, Light & Power Co.,
and $126,000 par value of bonds of the Cleveland South­
western & Columbus Ry. have been authorized to make the
purchase. The Mansfield Company has outstanding $650,000 common stock and $350,000 6 % cumulative preferred.
Control of the company was acquired by Thomas W . Latham
several months ago. “ Cleveland Finance” of July 18 said:
T h e S o u th w e s te rn w ill n o t m e rg e th e se lin es w it h th e ir s y s te m , b u t w ill
a cq u ire c o n t r o l b y ow n e rsh ip o f a m a jo r it y o f th e s t o c k o f th e M an sfield c it y
lin es. T h e la tte r p r o p e r ty is e a rn in g a b o u t $ 2 0 0,00 0 p e r a n n u m g r o s s ,
a n d it is b e lie v e d it c a n b e o p e r a te d so as t o earn $90 ,0 0 0 n e t.
S o m e o f th e S o u th w e ste rn s to c k h o ld e r s h a v e a c q u ir e d th e M t. V e r n o n
c it y lin es, a lth o u g h th e S o u th w e ste rn is n o t n o w in te re ste d in th e d e a l
a n d w ill n o t b e u n til t h e y b u ild a lin e f ro m M ansfield t o M t . V e r n o n . E v e n t ­
u a lly , it Is e x p e c t e d th a t th e S o u th w e s te rn in terests w ill c o n t r o l a lin e
b u ild in g fro m M t. V e r n o n t o N e w a rk an d th e n c e in to C o lu m b u s , m a k in g a
C le v e la n d -C o lu m b u s lin e o u t o f th e S o u th w e ste rn s y s te m .
T h e se m a tte rs ,
h o w e v e r , are all fo r fu tu re c o n s id e r a tio n , as th e S o u th w e s tern w ill n o n o t h ­
in g m o re to w a rd s o r d e rin g n e w c o n s tr u c tio n u n til th e re Is a d e c id e d Im p r o v e ­
m e n t In th e m o n e y m a r k e t. [ I t w as a n n o u n c e d o n F e b . 7 1907 th a t W . H .
A b b o t t o f th e R o b e r t s & A b b o t t C o ., C le v e la n d , h a d p u rch a s e d th e e le ctr ic
lig h t c o m p a n y an d stre e t ra ilw a y in M t. V e r n o n , in c lu d in g H ia w a th a L a k e
P a rk .
T h e p ro p e rtie s p u rch a s e d are re p re se n te d b y th ree in c o r p o r a te d
c o m p a n ie s .— E d . “ C h ro n ic le .” ]
T h e C levela n d A sh la n d & M ansfield lin e , n o w b u ild in g fro m C h ip p ew a
L a k e t o M a n s fie ld , an d w h ic h is a p a r t o f th e S o u th w e s te rn s y s t e m , w ill n o t
b e r e a d y fo r o p e r a tio n b e fo r e A p r il 1 n e x t .
I t is e x p e c t e d th a t t h a t p o r ­
tio n o f th e lin e b e tw e e n A sh la n d an d M ansfield w ill b e In o p e r a tio n s om e
tim e th is fa ll.— V . 8 4 , p . 1113.

Dublin & Southwestern RR.— Consolidation Proposed.—
See Wrightsville & Tennille R R ., below.— V. 83, p. 37.
Easton (Pa.) Consolidated Electric Co.— Bonds Need Not
be Stamped with Guaranty to be a Good D elivery.— A Phila­
delphia paper says:
T h e S to c k L ist C o m m itte e o f th e P h ila d e lp h ia S t o c k E x c h a n g e has
r e scin d e d its ru lin g m a d e Ja n . 9 1902, t o th e e ffe c t t h a t o n a n d a fte r
th a t d a te th e E a s to n C o n s o lid a te d E e c tr ic C o . c o llla te r a l tr u st 5 % g o ld
b o n d s d u e M a y 1 1949, t o b e a g o o d d e liv e r y , m u st h a v e s ta m p e d u p o n th e m
th e g u a ra n ty o f th e L e h ig h V a lle y T r a c t io n C o ., a n d has ru le d t h a t th e
E a s to n C o n s o lid a te d E le c tr ic C o. c o lla te ra l tru st 5 % g o ld b o n d s d u e M a y 1
1949 shall b e a d e liv e ry w ith o r w ith o u t said g u a r a n ty s ta m p e d th e r e o n .—
V . 8 3 , p . 693.

Forest City Ry., Cleveland.— Financial Statement.— This
3-cent-fare road has issued a financial statement, from which
it'appears that on May 31 there was outstanding $1,034,570
capital stock and $158,997 bills payable, and that from
Oct. 13 1906 to May 31 1907 there was expended for con­
struction and equipment (but not franchise, which is put in
at $200,000) $939,986, being at the rate of about $81,000
per mile for the 11.6 miles of road in operation. For the
quarter ending June 30 the Municipal Traction Co. reports
gross earnings of $41,375 and net earnings of $17,726;
rental paid Forest City R y., $13,952; balance, surplus, $3,774. See further particulars in “ Cleveland Finance” of
July 27.— V. 84, p. 158.
Hilo RR.— Bonds Offered— Extension and Refunding Plan.
— The company has decided to extend its tracks into Hamakua, and the stockholders have authorized the issue of
bonds and stock in the manner hereinafter stated for the
purpose of refunding the present bonded debt and extending
the road from the foot of Waianuenue St., Hilo, northward
along the coast to Paauhau, District of Hamakua, a distance
of 44 miles, and for further extension later. The amount of

“ «S4

THE CIIHCN

bonds authorized was $4,500,000; of prei r^ed stock $1,0 Kj.000; of common stock $1,000,000: and B. F. Dillingham ol
Honolulu has agreed to finance and construct said extension,
secure rights of way, &c., and to receive as compensation for
his services stock only, the bonds to be accounted for to the
company at their par value.
A u th o rized Issu e o f B on ds and S tock.
B on d s— First m ortg a g e 6 % gold c o u p o n b o n d s , $1,000 e a ch :
c o u p o n s p a y a b le s em i-a n n u a lly in H o n o lu lu , San F ra n cis c o
an d N ew Y o r k , all in U nited S tates g o ld c o in .
T h e b o n d s w ill
m atu re O ct. 1 1927, b u t w ill b e r e d e e m a b le at o p t io n o f c o m ­
p a n y at par on a n y in te re st-d u e d a te a fte r O ct. 1 1917. T h e
b on d s w ill be a tlrst m o rtg a g e o n •the H a m a k u a e x te n s io n , an d
w ill b e a first lien u p on th e present r o a d , ro llin g s t o c k , w h a r v e s ,
w areh ou ses, & c ., s u b je c t o n ly t o th e p resen t o u ts ta n d in g b o n d
issu e, w h ich w ill be re fu n d e d an d c a n ce le d as fo o n as p ossib le,
th e r e b y m a k in g th e p ro p o s e d issue a first li< n on th e entire
s y s tem .
T h e new b on d s w ill b e re a d y for d e liv e ry on o r b e fo re
O ct. 1 1907; .‘ in k in g fu n d 10 % o f th e ann u al n e t in c o m e fro m
J a n . 1 19 1 3 _________________________________________________________ $ 4 ,5 0 0 ,0 0 0
T o refu n d presen t o u tsta n d in g b o n d s . .
_________ $ 1 ,000,000
F o r a c c o v n t c o n s tr u c tio n o f tx te n s io n an d e q u ip m e n t
fro m H ilo t o P a a u h a u _____________ ________ ___________ 2 ,0 0 0 ,0 0 0
T o be h e 'd In reserve b y th-1 trustees fo r p ossible fu tu re
e x t e n 'io n a fte r th e c o m p le tio n o f the H a m a k u a
B r a n ch t o P a a u h a u , b o n d s ----------------------------------------- 1 ,5 0 0 ,0 0 0
S to c k — T h e presen t issue o f s to ck is 50,0 0 0 snares, p ar $20 _____ $1,0 0 0 ,0 0 0
A u t h ’d a d d itio n a l issue, 50,000 shares o f co m . s t k , , p ar $20 _ . 1,000,000
A u t h ’d a d d ition a l issue n on -'cu m . pref. 6 % , 50,000 sh. ,par $20 . 1.000,000
A s u b s crip tio n list fo r th e sale o f b o n d s w as o p e n e d a t th e F irst N a tio n a l
B a n k o f H aw a ii on A u g . 1 1907, w h e n th e first in sta llm e n t o f b o n d s t o th e
a m o u n t o f $700,000 w as o ffe re d t o th e p u b lic a t p a r w ith a b o n u s o f 10 %
in s t o c k .
S u b scrip tion s are p a y a b le 20 % d o w n an d th e re m a in d e r in fo u r
eq u a l q u a rte rly in stallm en ts. -In te r e s t at 6 % a llo w e d o n all deDOsits.

The prospectus further says:
A bla n k et ch a rter fo r th e entire Island o f H a w a ii, d a te d M arch 28 1899,
w as gra n ted fo r a term o f 50 years.
It w as a sp e cia l ch a rte r fro m th e
R e p u b lic o f H aw a ii, co n fir m e d b y C ongress o f th e U n ite d S tates and c o n ­
firm ed b y P resid en t M c K in le y .
T h is ch a r te r co n fe rs th e ri^ht to co n s tr u c t
ra ilroa d s a n y w h ere o n th e Island, s u b je c t t o th e a p p ro v a l b y th e S u p er­
in ten d en t o f P u b lic W o rk s o f d etails o f co n s tr u c tio n .
A n y m o t iv e p jw rer
is a llo w e d .
T h e G ov ern m e n t o f H aw a ii grants th e c o m p a n y free rights o f
w a y fo r tra ck s, d e p o t s , qu a rries, & c ., o n ail G o v e rn m e n t lan ds, fo r c o n ­
str u c tio n pu rposes.
T h ere are 44 m iles o f track in o p e r a tio n , b u ilt in 1901-04, o f 6 0 -lb . steel
rails, gau g e 4 feet 8>£ in ch e s, ties p rin cip a lly C a liforn ia r e d w o o d , w ith som e
h ard w o o d : rock b a llasted th ro u g h o u t.
T h ese 44 m iles in clu d e (1) b e lt
lin e , \
m ilts en circlin g th e en tire w a te r fro n t o f H ilo H a r b o r , fro m H ilo
C ity d e p o t to th e H ilo H a rb o r s ta tio n , W a la k e a , and t o th e railroad 8 0 0 -ft.
w h a rf: (2) m ain lin e, 24 m iles, W a ia k e a S ta tio n , to O laa M ill, 8 m iles, and
O la a Mill t o P u n a P la n ta tio n , 16 m iles: (3) O laa B ran ch L in e , 16 m iles,
th r o u g h O laa P la n ta tion and d is trict t o G le n w o o d , on th e w a y t o th e V o l ­
c a n o o f K ilau ea, and 9 m iles b y sta ge th e re fro m ; (4) H aw a ii Mill B ran ch
L in e , % m ile, from H aw a ii P la n ta tio n M ill t o th e b e lt line; (5) o th e r t r a c k ­
a g e, 1 % nr lies o f sidin gs and spurs. T h e re are t w o steel brid ges at H ilo .
N o trestles.
R o llin g s t o c k , 5 lo c o m o tiv e s and 53 cars.
T h ere are fo u r
la rg e freigh t w arehouses in H ilo , on e b ein g 775 x70 fe e t, an d w e ll-e q u ip p e d
sh op (th e o n ly on e on th e is la n d ), w here th e c o m p a n y has b u ilt all o f its
ow n cars, besides som e 400 p la n ta tio n ca rs , & c. T h e s h o p s to o ls an d
e q u ip m e n t has c o s t 8 6 0 ,0 0 0 .
T h e p: op o se d H a m a k u a ’ d iv isio n w ill h a v e 6 0 -lb . steel rails, b a llast o f
r o c k , ties o f hard w o o d as far as o b ta in a b le ; brid ges steel.
T h e F i l o R R . now' h o ld s th e o n ly v a lid fra nchise fo r railroads o n th e
Isla n d < f H a w a ii, e x c e p t a lo ca l c o m p a n y In K o n a , an<j o n e in K o h a la .
N eith er o f these t w o fra n ch ises e x te n d t o H a m a k u a , H ilo o r P u n a.
C on­
gress at Its last session a p p ro p r ia te d $200,000 and au th o riz e d a co n tin u in g
c o n t r a c t fo r *2 00 ,000 m ore tow'ard th e c o n s tr u c tio n o f a b r e a k w a te r at
H ilo , on a p la n estim a te d b y th e a rm y engineers to c o s t $ 1 ,7 0 0 ,0 0 0 .
The
buildinn- o f the b rea k w a te r w ill p r o te c t'-th e h a ib o r , and w hen c o m p le te d
w ill m E k e H ilo H a r b o r on e o f the best in the wyo i ld .
T h e islan d has a larger
area c; p a b le o f d e v e lo p m e n t than all th e o th e r Islands c o m b in e d , and has
m ore v a ried natu ral resou rces: bu t is at present u n a b le t o m ark et Its
p r o d u c ts e x c e p t th rou g h th e m e d iu m o f c o s t ly la n d in g p la n ts, w h ich o n ly
large p la n ta tion s c a n a ffo r d .
T h e te r rito r y se rve d b y th e H ilo R R . c o m ­
prises th e towTti o f H ilo and th e O laa an d P u n a d is tricts .
H ilo to w n has a
p o p u la tio n o f 4 ,5 0 0 . wrh ich , w ith th e p o p u la tio n o f 5,000 ly in g sou th o f lt,
Is all th a t is n ow h a n d led b y th e H ilo R R .
T h ere is a p o p u la tio n o f 22,000
t o th e n orth w est 0f H ilo , w h ich has n o rail co m m u n ic a tio n .
T h e L egislati r j o f 1907 passed an A c t e x e m p tin g from t a x a t io n , fo r a
p eriod o f 10 yea.rs from Jan . 1 1908, all railroads o f p u b lic u tility c o n ­
s tr u c te d w ith in five years fro m said d a te .
T h e e s tim a te d tim e requ ired to
fin a n ce a n d co n s tr u c t th e p ro p o s e d e x te n s io n to P a a u h a u Mill is 2
to 3
years, from M ay 1 1907.
’E stim a ted A n n u a l E a rn in g s o f C om pleted S ystem fro m J a n . 1 1910.
E stim a te d gross earn in gs— O laa an d P u n a D iv is io n _____________ _ $20 0,00 0
F r o m H a m a k u a b ra n ch (6 3.500 to n s su g a r, 90 to n s o th e r fre ig h t,
passen ger tr a ffic , w h a rf e a r n in g s )------------------------------------------------ -- 5 2 5 ,5 0 0
T o ta l gross e a rn in g s.......... .........................................- _______ ___________ $725,500
O p e ra tin g exp en ses, sa y 6 0 % _________________________________________ 435,300
N e t ea rn in g s______________________
In terest 6 % o n $3,0 0 0 ,0 0 0 b o n d s

$290,200
180,000

S u r p lu s ___________________________- _______________________________ ______ $110,200
— V . 8 5 , p . 40.

Holyoke (Mass.) Street Ry.— Consolidation.— The Massa­
chusetts Railroad Commission has authorized the consoli­
dation of the Amherst & Sunderland St. Ry. with the Holy­
oke Street Railway and the issuance by the latter company
of $120,000 additional capital stock for exchange on a share
for share basis.— V. 85, p. 400.
Indiana Harbor RR.— See Indiana Harbor Belt RR. be­
low.
Indiana Harbor Belt RR.— Proposed Merger.— New Bond
Issue, Etc.— The shareholders of this subsidiary of the New
York Central & Hudson River R R ., it is stated, will vote
Oct. 1 on a proposition to take over the franchises and other
assets of the Indiana Harbor RR. and also on making a
mortgage to cover the entire property. The contract to lease
(with option to purchase) a portion of the railway of the
Chicago Junction Railways & Union Stock Yards Co. will also
come up for ratification (see particulars in V. 85, p. 160).
The Lake Shore & Michigan Southern and Michigan Central
companies hold the entire $1,000,000 stock of the Indiana
Harbor Railroad.— V. 85, p. 160.
Kansas City Railway & Light Co.— Option to Subscribe to
Notes.— Stockholders of record Aug. 9 are offered the right
to subscribe therefor at 95% until 3 p. m. Aug. 20, to the
extent of 22% of their respective holdings, for $4,125,000
5-year 6 % Series A convertible notes. Subscriptions are
payable 20% Aug. 20, 20% Oc^>. 1, 20% Nov. 1 and 40%
Dec. 2, through the Commercial Trust Co., Jersey City,,
or the New York Trust Co., New York City. These pay­
ments may be anticipated.




fYr.!.. 112L±>

4 ( iwii 1%: . **ueU by President Corrigan and Secretar
W . ,L. K. vkpuU ik, under date of Aug. 1, says in part:
In o rd e r t o m eet m a tu r in g o b lig a tio n s o f t h e c o m p a n y an d t o p r o v id e
fo r im p r o v in g a n d e x t e n d in g th e p r o p e r tie s in w h ich it is in te re s te d , th e
b o a rd o f d ir e cto r s deem it n ecessary t o a u th o riz e an issue o f $ 5 ,5 0 0 ,0 0 0
o f 5 -y e a r 6 % n o te s , in terest p a y a b le s e m i-a n n u a lly : $ 4 ,1 2 5 ,0 0 0 Series A
a n d $ 1 ,3 7 5 ,0 0 0 Series B; red eem a b le at o p t io n o f c o m p a n y at p a r an d a c ­
cru ed in te re st, u p o n eigh t w eek s' n o t ic e , on a n y in terest d a te a lte r S e p t. 1
1908.
T h ese n o te s w ill be se cu re d b y th e p le d g e o f at least $'> ,500,000
p a r va lu e n o te s o f th e M e tro p o lita n S treet R a ilw a y C o . o f K an sas C ity
a t least $ 1 ,0 0 0 ,0 0 0 p a r v a lu e n o te s o f th e K a n sa s C ity e l e c t r i c L ig h t C o ..
$ 2 ,6 9 5 ,0 0 0 p a r v alu e o f th e co m m o n c a p ita l s t o c k an d $ 2 ,9 7 7 ,9 0 0 p a r v a lu e
o f th e p re fe rre d s to c k o f K a n sa s C ity R a ilw a y & L ig h t C o ., s u b je c t , as t o
said p re fe rre d s t o c k , t o th e lien o f th e in d e b te d n e s s now secu red b y th e d e ­
p o s it o f such p re fe rre d s to c k as c o lla te r a l, w’ hich in d e b te d n e ss m a tu res an d
w ill be p a id o ff on D e c. 15 1907: and o f su ch se cu ritie s o f th e su b sid ia r y
c o m p a n ie s as are p le d g e d u n d e r th e in d e n tu re o f M ay 15 1903, s e c u iln g t h e
" fir s t lien re fu n d in g g o ld b o n d s .”
T h e n o te s are t o be a r in terest fro m S e p t. 1 1907, p a y a b le s e m i-a n n u a lly
an d are t o m a tu re S e p t. 1 1912.
h a c h o f th e S tr irs A $1 .000 not< s Is t o b e
c o n v e r t ib le , a t th e e p tio n o f th e h o ld e r, on an d a fte r s>ept. 1 1908, In to
six a n d o n e -h a lf shares ($650) o f th e c o m m o n c a p it a l s to c k and seven
shares ($700) o f th e p re fe rre d s t o c k o f th e co rr.p a n y .
T h e Seii- s A n o t e s
are- offered at 95 % o f th e ir p a r v a lu e an d a ccru e d interest t o the s t o c k h o ld ­
ers.

Arrangements have been made with Kuhn. Locb »fc Co.
and Blair & Co. to form a syndicate to guarantee the sale
of the notes of Series A and buy all of the notes not taken
by the stockholders.
The stockholders will meet at the office of the company
in Jersey City on Aug. 15 1907 to vote on issuing the notes
and on creating a mortgage or other lien to secure them.—
V. 84, p. 1551.
Kentucky Highlands R R .— Bond Issu e.— A mortgage has
been filed to the Columbia Trust Co. of Louisville, as
trustee, to secure an issue of $500,000 first mortgage 5 % gold
bonds of $1,000 each.
T h e c o m p a n y w as in c o rp o ra te d in
c a p ita l s t o c k . In shares o f $100 e a c h ,
F r a n k fo r t, V ersailles and L e x in g t o n .
J oh n C. n o o la n and A ttila C o x J r ..
Centra) R R ., and S. S. B u sh , S . H .
W lrg m a n , all o f L o u is v ille .

K e n t u c k y on A p r ils w ith $ 2 5 0 ,0 0 0
t o b u ild 30 m iles o f railroad b e tw e e n
T h e in c o rp o ra to r s are E . F . T r a b u e ,
c o u n se l In K e n tu c k y fo r th e Illin ois
O w e n s , J . D . W in s to n and M en efee

Lake Shore & Michigan Southern Ry.— Acquisition.— This
company has arranged to acquire the Chicago & Wabash
Valley RR. Co., a short road in Indiana known as the
Onion line, of which Benjamin J. Gifford of Kankakee was
President and promoter.— V. 84, p. 1182.
Lima & Toledo Traction Co.— New Mortgage.— Further
Facts.— The Fort Wayne “ Journal Gazette" states that the
mortgage for $2,750,000 recently filed to the Provident Life
& Trust Co. of Philadelphia, as trustee, recites that it takes
the place of a mortgage for $2,500,000 which was filed on
June 10 to the same trust company.— V. 85. p. 221.
Louisville (K y.) Ry.— Notes Offered.— Bids were to b^
opened July 31 for $150,000 3-year 6 % collateral trust note
dated June 1 1907, being part of the authorized issue oi
$500,000, secured by deposit of $600,000 40-year 4 ’ ^%
bonds. About two months ago $300,000 of these notes were
sold to local banking institutions at par. Compare V. 84,
p. 1367, 1307.
Mansfield (Ohio) Railway, Light & Power Co.— C h a n g e
n Control.— See Cleveland Southwestern & Columbus Ry.
above.— V. 83, p. 1291.
Missouri Kansas & Texas R y.— No Dividend at Present on
Common Stock.— The “ New York Times” of July 31 has the
following from an officer of the company touching recent
dividend talk:
A t th is tim e , w h en legislatu res are so e x a c t in g an d the la b o r u n io n s s o
Insisten t fo r sh o rte r h ours and h igh er w a g e s , it w o u ld not seem pruden t,
t o m ak e a n y fu r th e r d is trib u tio n t o o u r s to c k h o ld e r s , an d 1 am q u ite su re
th a t th e q u e s tio n o f d e c la r in g a d iv id e n d o n M issouri K a n sa s & T e x a s c o m ­
m on w ill n o t c o m e u p fo r c o n s id e r a tio n a t a n y tim e in th e n ear fu tu r e .
W e are b e in g o rd e re d b y th e S ta te a u th o r itie s o f T e x a s t o d o th is, t h a t
o r th e o th e r im p ro v e m e n t w o rk , c o s tin g $ 5 0 ,0 0 0 here and $ 6 0 ,0 0 0 t h e r e ,
and in the ag g re g a te th ese e x p e n d itu r e s reach a v e ry large su m .
It Is tru e th a t o u r e a rn in gs h a v e sh ow n large Increases, as w ill a p p e a r
from th e fo r t h c o m in g s ta te m e n t fo r th e last tlsc-al y e a r.
B ro a d ly s t a t e d ,
th e gross ea rn in g s fo r th e y e a r e n d e d Jun e 30 1907 sh ow ed an in crea se o f
24 % an d th e net e a rn in gs an Increase o f a b o u t 50 % .
A t th e sam e tim e o u r
s to c k h o ld e r s are m ore eiesirous o f In creasin g th e v a lu e o f th eir p r in c ip a l
th an th e y are o f o b t a in in g d iv id e n d s at th is t im e .
It is n o t tru e t h a t o u r
fo re ig n s to c k h o ld e r s , in c lu d in g th e h o ld e rs o f a b o u t $ 9 ,0 0 0 ,0 0 0 o f ou r
s to c k In H o lla n d , are Insisting u p o n a d iv id e n d u p o n th e co m m o n s t o c k .—
V . 84, p . 1551.

North Jersey Street Ry. Co.— Consolidation.— At a meet­
ing to be held on Aug. 20 the shareholders will vote upon
consolidating the company with the Jersey City Hoboken
& Paterson Street Ky. and the United Street Ry. of Central
•eisey. The roads belong to the system of the Public
Service Cor oration.— V. 76. p. 1030.
Philadelphia Baltimore & Washington RR.— New Bonds
Authorized.— The stockholders at their meeting on July 31
authorized an increase of $5,000,000 in the indebtedness of
the company, to be represented by bonds or otherwise, as
the directors may decide later. The new securities, it is
understood,will be issued sometime in the future in connecttion with the financing of the company's share of the terminal
improvements in Washington, D. C.. and for additions, etc.
— V. 84, p. 1489, 1428.
Philadelphia Rapid Transit Co.— Final Assessment on
Stock.— The directors on July 29 voted to call for the pay­
ment of the final assessment of $15 a share due on the
600,000 shares outstanding (par value $50), payable in two
installments of $7 50 each, the first on Sept. 9 1907 and the
other Sept. 7 1908. President John B. Parsons is quoted as
saying:
It is o u r In ten tion to rush th e w o rk n o w und er w ay and now th a t d a te s
h a v e been set fo r th e re ce ip t o f $ 9 ,0 0 0 ,0 0 0 . w e ca n g o ahead an d b ase o u r
ex p e n d itu r e s a c c o r d in g ly .
N o n e w c o n s tr u c tio n o f a n y m o m e n t w ill b e
c o m m e n ce d u n til th e w ork n o w u n d e r w a y shall be c o m p le t e d .
C o m p le tio n
o f th e s u b w a y u n d e r M arket S treet is th e u p p e rm o st th o u g h t In th e m in d s
o f th e m a n a g e m e n t, and o u r energies w ill be d e v o t e d a lo n g th a t line at first
— V . 8 5 , p . 221

AVG. 3 1907.]

THE CHRONICLE

Public Service Corporation of N. J.— Consolidation of
Controlled Companies.— See North Jersey Street Ry. Co.
above.
Lease Approved.— See United Electric Co. of New Jersey
under “ Industrials” below.— V. 85, p. 100, 42.
Seaboard Air Line Ry.— Offering of Equipment Trust Cer­
tificates.— Henry & West, Real Estate Trust Building, Phila­
delphia, are offering for sale the unsold portion of $300,000
equipment trust 5 % certificates, series ” K ,” dated July 1
1907 and due in twenty semi-annual instalments of $15,000
each, from Jan. 1908 to July 1917, inclusive. Denomina­
tion $1,000. Philadelphia Trust Safe Deposit & Insurance
Co., trustee. The equipment consists of 25 freight, switch­
ing and passenger locomotives built by the Baldwin Loco­
motive Works.— V. 84, p. 1183.
Southern Pacific Co.— Dividend Rate Increased from 5%
per Annum , Payable Sem i-Annually, to 6 % , Payable Quarterly.
— The directors on Thursday declared a quarterly dividend
of 13^% on the common stock, payable Oct. 1 upon presen­
tation of the coupon attached to the certificate. The trans­
fer books do not close. Dividends Nos. 1 and 2, paid in
Oct. 19M and April 1907, were at the rate of 5 % per annum.
— V. 8% *). 222.
Wabash RR.— Description of Issue of $200,000,000 First
Refunding and Extensions F ifty-Y ear 4 % Bonds.— The state­
ment made April 24 to the New York Stock Exchange says
in substance:
Trustees, B o w lin g G reen T ru st C o . o f N e w Y o r k , J. C. V a n B la r c o m o f
St. L otils, M o ., anti Jam es I). I 'o ig a n o f C h ica g o , 111. B o n d s d a te d J u ly 1
1906 an d p a y a b le J u ly 1 1956, in g o ld c o in o f th e U n ite d S tates o f th e p r e s ­
en t stan d ard o f w e igh t and iineness, w ith o u t th e p r iv ile g e o f earlier re d e m p ­
tio n .
In terest fro m J u ly 1 1900, p a y a b le Ja n . and J u ly in each y e a r; b o th
prin cip a l and Interest are p a y a b le w ith o u t d e d u ctio n o n a c c o u n t o f a n y
ta x e s w h ich th e c o m p a n y m a y be requ ired t o p a y th e r e o n , o r retain th ere,
fro m u n d er any p resen t o r fu tu re law o f th e U n ite d S ta te s, o r o f a n y S ta te ,
c o u n t y o r m u n ic ip a lity th erein .
C o u p o n fo rm , w ith p o w e r o f registration
as t o p r in c ip a l, an d c o n v e r tib le Into registered b o n d s w ith o u t c o u p o n s , o f
$ 1 ,0 0 0 ea c h , and such m u ltip les th e r e o f as th e b o a r d o f d ire cto rs o r e x e c u ­
t iv e c o m m itte e m a y a u th o riz e .
R e g iste re d b o n d s are e x c h a n g e a b le in tu rn
fo r c o u p o n b o n d s.
T h e to ta l a u th o riz e d issue is lim ite d t o th e p r in c ip a l
sum o f $ 2 0 0,00 0 000.
[T h e m o r tg a g e c o v e r s all o f th e lines o f th e c o m p a n y e x is tin g a t th e d a te
o f th e m o r tg a g e , an d all term in als, term in a l p r o p e r t y , lo llin g s to c k and
e q u ip m e n t, an d all p r o p e r t y o f e v e r y k in d an d d e s crip tio n o w n e d at th e
tim e o f th e e x e c u tio n o f th e m o r tg a g e , and a p p u rte n a n t t o o r used in c o n ­
n e c tio n w ith its lines o f railroad , s u b je c t t o the liens o f e x is tin g u n d e rly in g
m ortg a g e s w h ich are h e re in a fte r m e n tio n e d : aiso all e x te n s io n s , b ra n ch e s ,
e q u ip m e n t, term in als and o th e r p r o p e r t y w h ich m a y be a cqu ired th ro u g h
th e u^c o f th e b o n d s secured b y th e m o r tg a g e , o r th e ir p r o c e e d s , o r w h ich
m a y b e o r b e c o m e s u b je c t t o th e lien o f a n y o f th e e x is tin g u n d e rly in g m o r t ­
gages o f th e railroad c o m p a n y .
P rop erly C overed by M ortg a ge at E x e c u tio n T h ereof.
1. R a ilr o a d lines e x te n d in g fro m T o le d o O h io , an d D e tr o it , M ich ,
w e sterly t o o r n ear C h ica g o , 111. St. L o h is an d K a n sas C ity , M o ., an d lie s
M oin es an d C ou n cli B lu ffs, I o w a , to g e th e r w ith ce rta in b ra n ch lines and
e x te n sio n s, a g g reg a tin g In a 'l a m ileag e o f m ain tra ck o f a b o u t 2 ,0 0 0 m iles.
2. Cert.'ili' shares o f c a p ita l s to c k d e p o s ite d w ith th e B o w lin g G reen.-Trust
C o ., o n e o f th e tru ste e s, v iz .:
U n ion D e p o t C o. o f K an sas C ity , 450 shares, p a r v a lu e 5100 e a c h .
$ 45 ,000
H a n n ib a l U n ion D e p o t C o .. 78 shares, p ar v a lu e $100 e a c h _______
7,800
K e o k u k U n ion D e p o t C o ., 200 shares, p a r v a lu e $100 e a c h _______
20 ,00 0
K a n sas C ity E x ce ls io r S p rin g s & N o rth e rn R R . , 1,000 sh a ie s ,
p a r v a lu e $100 e a c h _________________________ _______ _____ . _ . _
100,000
S t. L ou is C ou n cil B lu ffs & O m a h a R R . C o ., 7,2 9 7 shares, p a r v a lu e
_____________ _____ _
. . ___________ _______ ____ .
$100 each
729 ,700
L a k e E rie T r a n sp o rta tio n C o ., 4 ,0 0 0 sh ares, p a r v alu e $50 e a c h . .
200,000
3. T h e Interest o f th e railroad c o m p a n y in th e s to c k s , b o n d s and o th e r
secu rities, n o w p le d g e d as s e cu rity fo r Its co lla te ra l n o te s , s u b je c t t o the
term s th ereof:
W a b a s h -P it t s b u r g h T erm in al R y . 1st M. 50 y7r. 4 % gold b o n d s. . $ 6 ,6 0 0 ,0 0 0
do
do
do
ca p ita l s t o c k , 199 ,930 shares
o f $50 e a c h _________ __________________ _____ __ ____________ _____ 9,9 9 6 ,5 0 0
W a b .-P it t s . T e r m . R y . d e m a n d note fo r $ 1 ,5 0 0 ,0 0 0 , c o lla te r a lly
secu red b y th e p le d g e o f $ 1 4 ,0 0 0 ,0 0 0 ca p ita l s t o c k o f P itts ­
b u rgh T e rm in a l R R . & C oal C o ---------- ------------------ ------------------------ 1 ,5 0 0 ,0 0 0
W a b .-P it t s . T e rm . R y . d em a n d n o te fo r $ 3 ,5 0 0 ,0 0 0 , en d orsed
b y P itts. T e rm . R R . & Coal C o ., an d c o lla te ra lly secu red b y
th e p led g e o f $ 3 ,8 0 0 ,0 0 0 4 0 -y r. 4
% co n so lid a te d m tg e. gold
b o n d s o f P itts. T erm R R . & Coal C o .
________. . . _______! ___ 3 ,5 0 0 ,0 0 0
P ittsb u rg h E x p ress C o . c a p ita l s t o c k , 12.000 shares o f $100 e a c h . 1,200 000
B e it R y . C o. o f C h ica g o ca p ita l s to c k , 2,4 0 0 sh a ie s o f $100 each..
240 .000
Airier. R efr ig e ra to r T ra n sit C o. ca p ita l s t o c k , 1,217 shares o f
$100 e a c h _______ I __________________ - _______ ______ _________________
121 ,T00
C h ic a g o & W e ste rn In d ia n a R y . C o co n s o lid a te d 1 % b o n d s
___
9 5 0 .0 0 0
U nderlying M ortga ge Bonds F u n d ed N o tes, E q u ip m en t O bligation s, & c.
M ortga ge Bon ds.
1st m tg e . 5 % b o n d s .m a tu r in g , M ay 1 1939 -------------------- .
_ .$ 3 3 ,0 1 1 ,0 0 0
2d m tg e . 5 % b o n d s , m a tu rin g F e b . 1 1930
1 4 ,0 0 0 ,0 0 0
Series A d e b e n tu re m tg e . b o n d s , ___________ _____ _____________. .
3,5 0 0 000
Series B d e b e n tu re m tg e . b o n d s ................... .............
.................... ..
2 6 ,5 0 0 ,0 0 0
F irst lien 4 % term in a l b o n d s , m a tu rin g J a n . 1 1954 ...................
3 .5 5 5 .0 0 0
T o le d o & C h ica g o d iv isio n 1st m tg e . 4 % b o n d s , d u e M arch 1 1941 3 .0 0 0 000
D e tr o it & C h ica g o E x te n sio n 1st M . 5 % b o n d s, d u e J u ly 1 1941.
3 .3 4 9 .0 0 0
O m a h a d iv ision 1st m tg e . 3 >6 % b o n d s, d u e O c t . 1 194 1________
3 .1 7 3 .0 0 0
D es M oin es d iv isio n 1st m tg e . 4 % b o n d s, d u e Ja n . 1 1 93 9........
1 .6 00.000
F u n d ed N otes
5 % colla tera l n ote s, m a tu rin g M ay 10 1 9 0 7 . _____________________ $ 6 ,1 6 0 ,0 0 0
4 H % gold n o te s , m a tu rin g M ay 1 1 9 1 0 ____________________________
7 .0 0 0 000
E q u ip m en t Obligation's.
Series A 5 % eq u ip m e n t b o n d s , m a tu rin g in in stallm en ts t o an d
in clu d in g May 1 191 4. . _ . __________ . . .
___, ______________
$67 2,00 0
Series B 5 % eq u ip m e n t b o n d s , m a tu rin g in In stallm en ts t o an d
In clu d in g D ec. 1 1914____________________________ _______________
73 9 ,0 0 0
E q u ip m e n t sin k in g fu n d 5 % b o n d s, m a tu rin g In in sta llm e n ts to
arid In clu d in g M arch 1 1 92 1--------------------------------------------------------2 .5 0 0 .0 0 0
1 0 -y e a r 4 H % e q u ip m e n t n o te s , m a tu rin g t o an d I n d . J u ly 1 1916 6 .1 8 0 .0 0 0
G uaranteed Bonds.
S t Charles B iid g t 6 % b o n d s S t. L o u is K a n . C ity & N o rth e rn
R y . C o . , d u e O ct. 1 19 0 8 -------------------------------------------------- -----------46 8 ,0 0 0
K a n sa s C ity E x ce ls io r S prin gs <Sc N o rth e rn R R . C o. 1st m tg e .
4 % b o n d s , d u e J a n . 1 1 9 2 8 .. ____________ ______ _______________
100 ,000
C o lu m b ia & S t. L o u is R R . C o . l* t M . 4 % b o n d s , d u e M ay 1 1942
2 00,000
S t. L ou is C ou n cil BlulTs & O m a h a R R . C o . 1st m tg e . 6 % b o n d s ,
d u e J u ly 1 1 9 0 8 .......... ................................. .......................... ........................
4 2 1 .0 0 0
r u r p o s e s fo r w hich the $ 2 0 0 ,0 0 0 ,0 0 0 B on d s Secured by N eic M ortg a ge M a y
B e Issu ed .
U n d e r S ec. 1, w ith o u t re s tric tio n , fro a n y la w fu l c o r p o r a te
p u r p o s e _______________________ ______________ . . . . . . __________ $ 5 ,0 0 0 ,0 0 0
U ider S ec. 2, t o retire a like a m o u n t o f th e e x is tin g o u ts ta n d ­
in g b o n d ; o f th e c o m p a n y (o th e r than its d e b v n tu ie m o r t­
g age b o n d s ) , as a b o v e set fo r th , as well as fo r th e retirem en t
o f b on d s g u a ra n te e d as a b o v e m e n tio n e d
6 2 ,8 7 7 ,0 0 6
R - erved u n d er S e c. 3, to b e issued fro m tim e t o tim e In e x ­
c h a n g e fo r th e o u ts ta n d in g d e b e n tu re m o r tg a g e b o n d s . It
b e in g p r o v id e d th a t th ere shall a lw a ys be reserv ed $795,
p a r v a lu e , o f th e new b o n d s fo r each $ 1 ,0 0 0 . p ar v a lu e , o f
to u n ex ch a n g ed d e b e n tu re m o rtg a g e b o n d s. Series A , and $720,
“ pal v a lu e , o f th e n e w b o n d s fo r each u n e x ch a n g e d $ 1 ,0 0 0 ,
15 p ar v a lu e , o f such o u ts ta n d in g d e b e n tu re m o r tg a g e b o n d s,
k. Se les B ..................................... ....................................................................... 2 1 ,8 6 2 ,5 0 0




285

R e s e rv e d u n d e r S e c. 4, t o b e Issued, u n d e r ca r e fu lly g u a rd e d r e ­
s tr ic tio n s , fo r th e a c q u is itio n o r p a y m e n t o f th e fu n d ed
n o te s an d e q u ip m e n t o b lig a tio n s o f t h e c o m p a n y , th e c o n ­
str u c tio n o r a c q u is itio n o f a d d itio n a l railroad m ilea ge o r th e
a c q u is itio n o f secu rities rep re se n tin g th e ow n e rsh ip o f th e
sam e, th e c o n s tr u c tio n o r th e a c q u is itio n o f se c o n d or d o u b le
tr a c k , s h o p s , d e p o t s , te rm in a l p r o p e r tie s , ro llin g s t o c k and
e q u ip m e n t, an d o th e r p r o p e r t y fo r use in c o n n e c tio n w ith th e
tra n s a c tio n o f th e business o f th e lines o f r a ilro a d o f th e rail­
r o a d c o m p a n y , th e re im b u rse m e n t o f a d v a n c e s m a d e b y th e
railroad c o m p a n y in c o n n e c tio n w ith th e a c q u is itio n o f real
e sta te fo r use as te rm in a ls, and g e n e ra lly fo r su ch c o n s tr u c ­
tio n and a cq u is itio n o f such p r o p e r t y as m a y b e d eem ed
n ece ssa ry t o en a b le th e r a ilro a d c o m p a n y t o h a n d le its b u si­
ness an d tr a ffic w ith e c o n o m y and d is p a tc h an d t o m a in ta in
and o p e ra te Its p r o p e r t y in a c c o r d a n c e w ith m o d e r n m e th o d s
an d p u b lic r e q u ir e m e n ts_________________________________________ 11 0 ,2 6 0 ,5 0 0
T h e rig h t is re se rv e d t o refu n d th e o u ts ta n d in g b o n d s o f th e S t. L o u is
K a n sa s C ity & N o rth e rn R R . C o. an d th e St. L o u is C o u n cil B luffs & O m a h a
R R . C o . b y th e use o f th e first m o r tg a g e b o n d s o f th e railroa d c o m p a n y
h e re in b e fo re m e n tio n e d , w h ich are e x p re s s ly re served u n d er th e term s
o f th e first m o r tg a g e fo r th is p u rp o s e ; arid, In such e v e n t a like a m o u n t
o f th e n ew b o n d s reserved u n d er tih s s e c tio n are m a d e a v a ila b le fo r th e re ­
fu n d in g a n d re tirin g o f th e a d d itio n a l lirst m o r tg a g e b o n d s w h ich m a y­
b e so is su e d .
T h e c o m p a n y also reserves th e rig h t t o Issue a d d itio n a l a m o u n ts o f its
first lien 4 % te rm in a l b o n d s up t o th e fu ll a m o u n t o f th e a u th orized issu e,
n a m e ly , $ 1 0 ,0 0 0 ,0 0 0 .

Of the new bonds, the New York Stock Exchange has listed
$23,950,000 (compare V. 84, p. 1115), which were as follows:
$ 1 9 ,0 9 0 ,0 0 0 in e x c h a n g e fo r d e b e n tu re A and B b o n d s as b e lo w sh ow n
(p e r p la n In V , 83, p . 437 , 626) an d th e re m a in in g $ 4 ,8 6 0 ,0 0 0 as a p a rt
o f th e $ 5 ,0 0 0 ,0 0 0 reserved u n d e r S ec. 1 , v iz .: $60 ,0 0 0 t o d e fr a y in p a r t th e
ex p e n s e o f ca r r y in g o u t said p la n o f e x c h a n g e o f d e b e n tu re m o r tg a g e b o n d s ;
and $ 4 ,8 0 0 ,0 0 0 p le d g e d as p a rt co lla te ra l fo r an issue o f $ 6 ,1 6 0 ,0 0 0 2 y ea r
5 % g o ld n o te s , d a te d M a y 10 1907 a n d issued in e x te n s io n o f a like a m o u n t
o f n o te s m a tu r in g u p o n th a t d a t e .
(V . 8 4 , p . 869 , 804.)
D eb en tu res A an d B Issu ed and E xch a n g ed to A p r il 24 1907.
Issu ed .
S till Out.
E xch a n ged —
Series A . . . $ 3 , 5 0 0 , 0 0 0
$5-13.000 $ 2 ,9 5 7 ,0 0 0 fo r $ 2 ,3 5 1 ,0 0 0 n ew b o n d s
Series B ____ 2 6 ,5 0 0 ,0 0 0
3 ,2 5 1 ,0 0 0
2 3 ,2 4 9 ,0 0 0 fo r 1 6 ,7 3 9 ,0 0 0 n ew b o n d s
— V . 85, p . 42.

■West Penn Railways .-—Acquisition.— This company has
acquired the controlling interest in the stock of the Pitts­
burgh McKeesport & Greensburg Railway, a 28-mile road
running from Masontown to Trafford City, Pa. The follow­
ing new directors were elected for the acquired property:
Lloyd B. Huff, President; J. II. Purdy, Vice-President;
J. B. Van Wagener, Treasurer; Richard L. Coulter Jr., H. I.
Lynne and Byron Trimble.— V. 84, p. 997.
Wrightsville & Tennille RR.— Consolidation.— The share­
holders will vote Aug. 1 on a proposition to merge the Dublin
<fe Southwestern R R ., purchased in July 1906; also to increase
the capital stock from $300,000 to $600,000 and to issue
$300,000 bonds for the improvement of the Dublin & South­
western.— V. 83, p. 39.
York County (Pa.) Traction.— Dissolution.— The share­
holders on July 30 voted to dissolve the company, preparatory
to a re-incorporation. The company’s $1,500,000 bonds
were paid off July 1. Compare V. 84, p. 1369.
INDUSTRIAL, GAS AND MISCELLANEOUS.
American & British Manufacturing Co.— Reduction of Capi­
tal Stock.— This company controlled through stock ownership
of the International Power Co. (see V. 84, p. 800) has voted
to reduce the common capital stock from $8,000,000 to
$2,000,000. New certificates will be issued to holders of
existing certificates in the proportion of one share of new
stock to four of the old. The preferred stock remains un­
changed at $2,000,000.— V. 84, p. 805.
American Cigar Co.— See American Tobacco Co. under
Annual Reports on a preceding page.— V. 84, p. 567.
American Fisheries Co.— F ire.— This company's largest
plant, located at Promised Land, L. I ., was destroyed by
fire on July 31. The loss is estimated at $800,000.— V. 79,
p. 2458.
(The) American Laundry Machinery Manufacturing Co.—
Consolidation.— This company was incorporated in New
Jersey on May 28 1907, its authorized capital stock being
now $12,500,000, of which $2,500,000 is 7 % cumulative
preferred, subject to call at 125 on July 1 1912. Amounts
outstanding, $6,000,000 common and $1,675,000 preferred;
par of shares, $100. No bonds, new or old. The company
has purchased all the real and personal property of the fol­
lowing companies:
A m e r. L a u n d r y M a ch . Co., C in c in n a ti I N elson & K re u te r C o ., C h ica g o.
A . T . H agen & C >., R o c h e s te r . N . Y . |The W a tk in s L a u n d r y M . C o ., Cin.
B arnes & E rb C o ., P h ila d e lp h ia .
W ilson L a u n d r y M a ch . C o ., C olum | b la , P a .

The personnel of the company “ includes the men who
have been prominent in this line of effort since the inception
of the business itself.” The directors and officials are:
P r e s ., W . N . C a rter, C h ic a g o , III.; V ic e P r e s .. D . M . C o o p e r R o c h e s t e r ,
N . Y . , A . K re u te r, C h ica g o , 111., L . S. S m ith . C in c in n a ti, O ., a n d T . D .
W e b b , N ew Y o r k , N . Y . ; S e c .. E . P . U n d e rh ill; T r o t s . , W . B . G iv e n ,
C h ica g o , 111.; W . M . B a rn e s, C. W . B e n d e r, R o b e r t M . B u rto n , C. A .
H ln s c n , A . T . H a g e n , C. J. M iller, R o b e r t S. N e ls o n . E . B . S ta n le y .
E astern Sales D e p t., 127 W . 27th S t ., Newr Y o r k C ity ; S ou th ern Sales
D e p t ., S ta tio n " H . ” C in cin n a ti; W e s te rn Sales D e p t ., 98 F ra n k lin S t .,
C h ica g o ; P a elllc Sales D e p t ., San F r a n cis c o , Cal.
G eneral o f fic e , B orlan d B u ild in g , L a Salle an d M on roe s ts ., C h ic a g o , 111.

American Rolling Mill Corporation, Chicago.— Receiver­
ship.— Judge Landis in the United States District Court at
Chicago on July 29 appointed the American Trust & Savings
Bank receiver for the American Rolling Mill Corporation on
petition of four creditors with claims aggregating $1,802.
It is asserted that the corporation has been insolvent for
several months.— V. 83, p. 325.
American Snuff Co.— See American Tobacco Co. under
Annual Reports on a preceding page.— V. 84, p. 567.
American Stogie Co.— See American Tobacco Co. under
Annual Reports on a preceding page.— V. 80, p. 2400.

286

THE CHRONICLE

American Telephone & Telegraph Co.— Explanation.—
Regarding the monthly instrument statement published last
week, the “ Boston News Bureau” says:
V e r y erron eou s c o n c lu s io n s are a p t t o b e draw n fro m th e In stru m en t
s t a te m e n t, w h ic h Is Issued m o n t h ly . T h e sta te m e n t fo r Ju n e s h o w e d a n e t
o u t p u t o f o n ly 17,678 in s tru m e n ts , an d th e in fe re n ce n a tu r a lly is th a t this
rep resen ts th e n ew n e t busin ess o f th e lice n s e e c o m p a n ie s fo r th a t p e r io d .
T h e tr u th is th e n u m b e r o f n e w s ta tio n s o r n e w su b scrib e rs d u r in g Ju n e
a m o u n te d t o 3 2 ,4 0 0 , a ga in st 37,100 in Ju n e 1906, an d P resid en t V a il gives
it as his o p in io n th a t b y reason o f th e r e c e n t e ffo rts t o s ecu re a h ig h er class
o f b u sin ess, th ere is m ore n e t m o n e y b y a t least $1 p e r m o n th t o th e B ell
co m p a n ie s o n th e basis o f th e Ju n e 1907 bu sin ess th a n w as s e c u r e d fro m th a t
b o o k e d in Ju n e 1906. T h e c o m p a n ie s h a v e laid o ff a t le a st 50 % o f th e ir
ca n v a ssers a n d are d ev o tin g ' th eir energies t o s e cu rin g h igh e r g ra d e an d
m o r e p e rm a n e n t bu sin ess, in c o n tr a s t w ith e ffo rts a y e a r a g o t o Increase
so le ly th e n u m b e r o f s u b s crib e rs , w h e th e r tra n sie n t o r p e r m a n e n t.
O n Ja n . 1 th e B ell c o m p a n ie s had a su rplu s s u p p ly o f a t least 6 00 ,000
in s tru m e n ts , a n d t h e y t o -d a y h a v e in s t o c k a s u ffic ie n t n u m b e r o f in s tru ­
m e n ts t o last th em fo r at least six m o n th s o n th e basis o f n e w bu sin ess ta k e n
d u r in g th e last six m o n th s o f 1906.
In v ie w o f th e fa c t th a t th e B e ll c o m p a n ie s are t a k in g o n b e tw e e n 30,000
a n d 40,0 0 0 n e t su b scrib e rs p e r m o n t h , an d o f a class w h ic h are m o r e p r o fita ­
b le th a n w as th e busin ess a y e a r a g o , it w ill b e seen h o w m is le a d in g t o th e
a v e r a g e r ea d er are th e m o n t h ly s ta te m e n ts.
T h e se show m e r e ly th e m o v e
m e n t o f in stru m en ts b e tw e e n th e p a re n t c o m p a n y a n d t h e lice n se e s. C om
p a r e V . 8 5 , p . 22 3 .

American Union Telephone Co.— Purchase.— This com­
pany recently arranged to purchase the Tri-State Telephone
Co., which operates in Fayette and other Western Penn­
sylvania counties, for a sum said to be over $500,000.— Y.84,
p.
1054.
Black Diamond Anthracite Coal Co.— Sold.— A press dis
patch from Pottsville oix July 24 announces that the Branchdale property of this company, of which T. V. Powderly
was President, has been sold to the Reading Coal & Iron Co.
for the small sum of $46,000.— V. 84, p. 1309.
Boomer Coal & Coke Co., Cleveland.— Bonds Offered.—
F. J. Lisman & Co. are offering on a
basis, by adver­
tisement on another page, $1,100,000 5 % car trust bonds,
dated July 15 1907 and due $110,000 each year on July 15
1908 to 1917. Coupon bonds of $1,000 each; interest Jan. 15
and July 15 at the offices of J. P. Morgan & Co., New York.
These bonds are secured by 1,000 standard-steel drop-bottom
fifty-ton capacity coal cars, costing abont $1,265,000, and
by the valuable coking property of the Boomer Coal & Coke
Co., stated to represent an outlay of $900,000, and they are
also unconditionally guaranteed as to principal and interest
by M. A . Hanna & Co., of Cleveland, Ohio, one of the best
known and largest firms of the Uuited States.
F o r m o f G u a ra n ty .
l ^ F o r va lu e re ce iv e d an d as p a r t o f th e c o n s id e r a tio n o f th e lease o f th e
a b o v e -m e n tio n e d coa l cars b y th e C le ve la n d T ru s t C o. t o th e B o o m e r C oal
& C ok e C o. a n d th e a c c e p ta n c e an d n e g o tia tio n o f th e ca r tru s t o b lig a tio n s
th erein m e n tio n e d , w e , M . A . H a n n a & C o , a co -p a rtn e rs h ip c o m p o s e d o f
D . R . H a n n a , R . L . Irela n d a n d M . A n d re w s , d o in g bu sin e ss at C le v e la n d ,
O h io , an d a m o n g o th e r th in g s en g a g e d in th e business o f h a n d lin g an d
sellin g c o a l, a n d b e in g th e sales agen ts o f th e w ith in n a m e d , th e B o o m e r
C oal & C ok e C o ., a n d in terested in its leasin g o f th e w ith in -n a m e d cars fo r
th e p u rp o se o f tr a n s p o r tin g its c o a l t o m a r k e t, d o h e re b y gu a ra n tee t o th e
h o ld e r th e p u n ctu a l p a y m e n t o f th e p rin c ip a l an d in terest o f th e w ith in n a m ed o b lig a tio n , at th e tim e an d in th e m a n n e r th erein s p e cifie d ; a n d w e
d o fu rth er c o v e n a n t th a t If th e said c o a l c o m p a n y shall m a k e d e fa u lt In
th e p e r fo rm a n ce o f Its c o v e n a n ts c o n ta in e d In th e a g reem en t a n d c o n t r a c t
o i l lease 1 in said ob lig a tio n m e n tio n e d , th a t w e w ill likew ise fo r th w ith ,
u p o n d e m a n d o f th e h old e r , p a y th e p rin cip a l an d Interest o f th e w ith in
o b lig a tio n .
"
D o n e a t C lev ela n d , O h io , as o f th e -------- d a y o f ----------------, A . D . 1907.
(S ig n ed ) M . A . H a n n a & C o m p a n y .)
Abstract Of L etter from V ice-P resid en t R . L . Ireland J u ly 15 1907.
T h e c o m p a n y ’ s p r o p e r t y co n sists o f 4 ,0 0 0 acres o f v a lu a b le c o a l la n d s ,
o n w h ich there are th ree o p e r a tin g m in es a n d o n e a d d itio n a l o p e n in g , w ith
an ann u al p r o d u c t io n o f o v e r 8 00 ,000 to n s , th e p r o p e r ty Is situ a te d at
B o o m e r , F a y e tte C o u n ty , W . V a ., o n th e line o f th e K a n a w h a & M ich ig a n
Ry.
T h e c o m p a n y Is ca p ita liz e d fo r § 6 5 0 ,0 0 0 , fu lly p a id , w ith n o b o n d e d
d e b t o th e r th a n th e m o r tg a g e b e a rin g d a te J u ly 15 1907 t o th e C levelan d
T ru st C o ., as tru stee, t o s e cu re th e e q u ip m e n t n o te s c o v e r in g 1,000
g o n d o la d r o p -b o t t o m c o a l ca rs. T h e c o n tr o l o f th e c o m p a n y Is h e ld
b y M . A . H a n n a & C o. a n d th ree larg e con su m ers o f c o a l, n a m e ly , th e
S o lv a y P rocess C o. o f S y ra cu s e , N . Y . , w ith p la n ts a t D e tr o it , M ic h .;
th e B y -P r o d u c t C ok e C o rp o ra tio n o f C h ic a g o , o w n e d a n d co n tr o lle d
b y th e S o lv a y P rocess Interests; an d th e M ilw au k ee C ok e & G as C o .,
o p e r a tin g S olv a y , P rocess o v e n s at M ilw a u k ee. M . A H a n n a & C o. are
th e sales a g en ts o f th e c o m p a n y a n d h a v e so ld t o th ese th ree co n s u m in g
in terests, a t a g u aran tee p r ice a b o v e all c o s ts o f o p e r a tio n , th e e n tire
p r o d u c t o f th e m in es, thus Insuring a full an d c o n tin u o u s o p e r a tio n fo r
p r a c t ic a lly th e life o f th e o u ts ta n d in g c a r tru st b o n d s , a n d also in su rin g
t o th e B o o m e r C oal & C ok e C o . a g u a ra n te e d p r o fit fo r th e sam e p e rio d .
T h e m in es are e q u ip p e d w ith th e la te st a n d m o s t e c o n o m ic a l m in in g an d
h a n d lin g d e v ic e s . T h ere are t w o v e in s o f co a l m a k in g th e co a l ru n o v e r
10 000 ton s t o th e a cre. T h is w o u ld m ak e a to ta l o f 4 0 ,0 0 0 ,0 0 0 to n s o f
co a l in th e p r o p e r t y , w h ich w ill last fo r a p e r io d o f a b o u t fift y yea rs a t t h e
presen t rate o f o p e r a tio n . T h e c o a l has e x c e p tio n a l c o k in g q u a litie s , a n d
is th erefore a lw a ys in d e m a n d .
T h e c o m p a n y has be e n In e x is te n ce fo u r
y e a r s , d u rin g w h ic h tim e it has set aside an a d e q u a te cash surplus an d
has e x p e n d e d a su bsta n tia l a m o u n t in im p ro v e m e n ts a n d e q u ip m e n t .—
V . 8 4 ; p . 1250

British American Tobacco Co.— See American Tobacco Co.
under Annual Reports on a preceding page.— V. 77, p. 39.
Central Leather Co.— Leather Merger Restrained with Leave
'to M odify the Agreement of Consolidation.— Vice-Chancellor
Emery at Newark on July 31 signed a formal order in the
Colgate suit restraining the consolidation of the United States
Leather Co. and the Central Leather Co. but with the following
provision:
B u t th is restra in t is n o t t o p r e v e n t , n o r to b e c o n s tru e d t o p r e v e n t , th e d i­
r e c to r s o f th e r e s p e c tiv e d e fe n d a n t c o m p a n ie s fro m en te rin g In to , or a d o p tin g
fo r th e p u rp os e o f su b m issio n t o th e s to c k h o ld e r s o f th eir r e s p e c tiv e c o m ­
p a n ie s , su ch m o d ifie d o r o th e r ag re e m e n t o f c o n s o lid a tio n as th e y m a y b e
a d v is e d , n o r t o p r e v e n t th e c o r p o r a te d e fe n d a n ts o r th e ir d ir e cto r s fro m
a p p ly in g t o th e c o u r t fo r le a ve t o s u b m it su ch m o d ifie d or o th e r agreem en t
t o th e s to c k h o ld e r s, an d b y a m e n d m e n t o f th eir answ ers o r o th e r p r o p e r
p r o c e e d in g s b y w a y o f a m e n d m e n t, su p p le m e n t, o r o th e rw ise t o w ith d r a w
a n y cla im t o co n s o lid a te u n d er th e a greem en t set up In th e b ill, a n d t o cla im
th e rig h t t o c o n s o lid a te u n d er s u ch o th e r o r m o d ifie d a g r e e m e n t.— V . 8 5 ,
p . 101.

Consolidated Gas Co. of New York.— No Ground for Re­
voking Charter.— Justice McCall in Special Term, Part 1, of
the Supreme Court on Monday denied the application of
Attorney-General Jackson for permission to sue the Consol­
idated Gas Co. of New York and its subsidiary companies,
for the purpose of revoking their charters. In the course
of a long opinion the Justice says:




[V o l .

lxxxv

.

T h e A n ti-M o n o p o ly A c t is r e a lly aim e’d at co m b in a tio n s b e tw e en Inde­
p e n d e n t c o n c e r n s , fo r th e p u rp o s e o f re g u la tin g p rices an d p r o d u c tio n , a n d
w h a t is a b h o rre n t an d r e p u g n a n t t o th e s ta tu te are c o n t r a c ts , ag reem en ts,
a rran gem en ts or c o m b in a tio n s w h ic h te n d to w a rd th e c o n tr o l o f th e sale
o r p r o d u c t io n o f a th in g o f c o m m o n u se , an d so p r e v e n t a c o m p e titio n in
s u p p ly o r p r ice .
N o such c o n d it io n is p re s e n te d on these tra n sa ction s.
W h a t is sh o w n is an o u t-a n d -o u t p u rch a se o f s t o c k fro m legal h old ers.
T h e p u rch a se r b e in g a c o r p o r a t io n , th e sale is m a d e u n d e r s t a tu to r y p e r ­
m issio n , an d is n o t a c o n t r a c t, a g re e m e n t, a rra n g e m e n t o r c o m b in a tio n
w ith in th e p ro v is io n s o f th e la w .
O th e r su its a re p e n d in g .
C om n a re V .
8 5 , p . 43; V . 8 4 , p; 1 30 9.
p

Consolidated Steamship Lines.— Statics.— A circular issued
by Hornblower & Weeks, New York, Boston, &c., says:
T h e c o m p a n y o w n s a n d op e ra te s s l i lin e s, w h ic h p r a c t ic a lly c o n tr o l th e
co a s tw is e tr a n s p o r ta tio n fro m S t. J o h n , N . B ., t o V e ra C ru z, M e x ico .
T h ese lines w ere p u rch a se d b y Charles W . M orse a n d his a ssocia tes fro m
th e ir o rig in a l o w n e rs.
T h e fu n d a m e n ta l id e a in th is c o n s o lid a tio n w as th e
b e n e fits t o b e d e r iv e d fro m c o n c e n tr a tio n o f c o n tr o l w h ich w o u ld resu lt In
th e w o rk in g o f all lines u n d e r o n e m a n a g e m e n t, th e se cu rin g o f th e low est
p o ssib le c o s t o f o p e r a tio n , th e e lim in a tio n o f Idle to n n a g e , th e c u r ta ilm e n t
o f p ie r r o o m , h a rm o n io u s w o rk in g a rran g em en ts b e tw e e n th e v a rio u s lin es,
th e m o s t fa v o r a b le p r ice f o r th e p u rch a s e o f su p p lies an d fu e l, th e low est
c o s t o f in su ra n ce , r e p a irs , legal e x p e n s e s , & c.
T h e co n s titu e n t c o m p a n ie s o p e r a te a to t a l o f 97 fre ig h t an d p a ssen ger
s e a -g o in g a n d r iv e r s te a m e rs, o f m o d e r n c o n s t r u c tio n , w ith an ag g reg a te
gross to n n a g e o f 265 00 0 .
In a d d itio n t h e y o w n 65 ligh ters an d 7 tu g s ,
th e w h o le fleet h a v in g a c o n s e r v a tiv e v a lu e o f n e a rly $40 000 000
T h ey
also o w n e q u itie s In p ie r leases, te rm in a l p r o p e r tie s , sh ed s, e q u ip m e n t & c .,
v a lu e d at $ 5 ,0 0 0 ,0 0 0 , m a k in g a t o t a l p r o p e r t y v a lu e o f a p p r o x im a t e ly
$ 4 5 ,0 0 0 ,0 0 0 .
T h e a g g re g a te c a p ita liz a tio n o f th e s u b s id ia ry c o m p a n ie s
co n sists o f $ 6 2 ,0 0 0 ,0 0 0 s t o c k a n d $ 2 4 ,7 5 7 ,0 0 0 first m o r tg a g e 5 % b o n d s .
C A P IT A L IZ A T IO N A N D T O N N A G E OF C O N S T IT U E N T
C O M P A N IE S .
„
,
C om pa n ies—
S tock.
E a ste rn SS. C o . (V . 8 4 , p . 7 5 1 ) -------$ 3 ,0 0 0 ,0 0 0
M e tr o p o lit a n S S . C o . ( V . 8 2 ,p . 9 9 0 ) .
3 ,0 0 0 ,0 0 0
C ly d e S S . C o. (V . 8 3 , p . 1 2 3 1 )--------- 1 4 ,0 0 0 ,0 0 0
M a llo ry SS. C o. (V . 83, p . 1 5 9 4 )___ 1 4 ,0 0 0 ,0 0 0
N . Y . & C u b a SS. C o .( V .8 4 ,p .ll8 5 ) 2 0 ,0 0 0 ,0 0 0
N .Y . & P o r to R ic o S S .C o . (V .84,p.87 1)
8 ,0 0 0 ,0 0 0

N o.
1st M . B d s. s t r s .
$ 2 ,3 2 2 ,0 0 0
21
2 ,4 4 0 ,0 0 0
6
4 ,4 9 5 ,0 0 0
25
3 ,0 0 0 ,0 0 0
14
1 0 ,0 0 0 ,0 0 0
19
2 ,5 0 0 ,0 0 0
12

T otal
T on 'a.
2 8 ,7 4 4
18 663
60,5 7 3
4 8 ,5 9 4
7 6 ,5 3 6
32,6 1 9

$ 2 4 ,7 5 7 ,0 0 0
97 265 ,7 2 9
T o t a l----------------------------------------------- $ 6 2 ,0 0 0 ,0 0 0
T h e ca p ita liz a tio n o f th e C on solid a ted Stea m sh ip L in es con sists o f
$6 0 ,0 0 0 ,0 0 0 colla tera l tru st 4 % b o n d s a n d $ 6 0 ,0 0 0 ,0 0 0 s to c k .
F or every
share o f s to c k h eld in a su b sid ia ry c o m p a n y a s to c k h o ld e r w as g iv en o n e
share o f C on solid a ted S team sh ip s to c k an d $100 colla tera l tru st 4 % b o n d .
W h ile o n ly $ 6 0 ,0 0 0 ,0 0 0 o f b o n d s h a ve b een a u th orized t o p r o v id e fo r
$ 6 2 ,0 0 0 ,0 0 0 o f s to c k o f th e su b sid ia ry co m p a n ie s, $ 2 ,0 0 0 ,0 0 0 m ore o f b o n d s
a n d s to c k w ill p r o b a b ly b e a u th orized .
T h e first m o rtg a g e b o n d s o f th e co n s titu e n t p rop erties are n o t a ffe cte d
b y th e co n s o lid a tio n .
P ro v is io n Is m a d e th ro u g h th e sin k in g fu n d ch a rges
f o r th e retirem en t o f a b o u t 4 % o f th e o u ts ta n d in g b o n d s ea ch y e a r, w h ich
p r a c tic a lly m ean s th a t at th e e n d o f 25 years th e first m o rtg a g e b o n d s w ill
b e re tire d , m a k in g th e 4 % co lla te ra l tru st b o n d s th e p rior lien.
»
W ith th e e co n o m ie s t o b e e ffe cte d in th e op e ra tio n o f th e in d iv id u a l lines
th ro u g h c o n s o lid a tio n , an d th eir Increased to n n a g e , a m o u n tin g t o som e
4 0 ,0 0 0 , rep resen ted b y nin e n ew o ce a n -g o in g stea m ers, a co n s e r v a tiv e
estim a te o f th e n et earn in gs fo r 1907 Is p la ced a t $ 4 ,5 5 0 ,0 0 0 .
The com ­
pa n ies earn ed in 1906 a p p ro x im a te ly $ 3 ,5 0 0 ,0 0 0 n e t o n a gross bu sin ess o f
n e a rly $ 1 8 ,0 0 0 ,0 0 0 .
E stim a ted N et E a rn in g s Together w ith F ix e d Charges o f the Consolidated
S team ship L in es.
E stim a te d n e t earn in gs as a b o v e ____________________________________ $ 4 ,5 5 0 ,0 0 0
In terest ch arge o n $ 2 4 ,7 5 7 ,0 0 0 first m tg e . b o n d s o f su b sid . c o s . . 1 ,2 3 7 ,8 5 0
In terest ch a rg e o n $ 6 2 ,0 0 0 ,0 0 0 4 % b o n d s o f C on sol. SS . l i n e s . . 2 ,4 8 0 ,0 0 0
S u r p l u s -------------------------------------------------------------------------------------------- $ 8 3 2,15 0
W h ile th e lines o f th e six stea m sh ip co m p a n ie s fo rm in g th e co n s o lid a tio n
o c c u p y a field o f o p e r a tio n e x te n d in g fro m S t. J o h n , N . B ., o n th e A t la n tic
c o a s t, t o V era C ru z, M e x ico , o n th e G u lf c o a s t, th ese lines to u c h m a n y
Im p orta n t In terven in g p o in ts , an d th e p o rts o f C u b a , P o r t o R ic o , S a n to
D o m in g o , T u rk ’ s Isla n d an d th e B a h a m a s. W o r k in g In close c o n ju n c t io n
w ith railroad s d iv e rtin g fro m th e v a rio u s p o r ts , th ere Is p r a c tic a lly n o
lim it t o th e s co p e o f th e co m p a n ie s ’ p ossib ilities In th e m o v e m e n t o f th ro u g h
freig h t a n d passen ger tra ffic.
T h e c o m p a n y has a v e r y e fficie n t w o rk in g
o rg a n iza tio n u n d er th e d ir e ct, aggressive su p erv ision o f C a lvin A u s tin .

The market price of the company's 4 % bonds has advanced
recently from 26% to about 2 8 ^ bid.
Description of Bonds.— The company’s collateral trust
4 % gold bonds, total authorized issue $60,000,000, are dated
Jan. 1 1907 and mature Jan. 1 1957, but are subject to call
on any interest day at 105. Interest payable Jan. 1 and
July 1 at the National Bank of North America, New York,
Trustee, American Trust Co., Boston, Mass.— V. 84, p. 1370.
Delta Electric Light, Power & Manufacturing Co., Green­
ville, Miss.— Bonds Offered.— Farson & Co., New York and
Chicago, some time since offered for sale a block of first
mortgage 6s dated June 1 1905; principal and annual interest
payable at Bank of America, New York City. Denomina­
tion, $1,000, maturing in installments on June 1 in 1920 and
from 1926 to 1930.
C a p ital s t o c k , a u th o r iz e d , $ 1 0 0 ,0 0 0 ; o u ts ta n d in g , $ 6 7 ,0 0 0 .
First m o r t­
gage b o n d s, a u th o riz e d , $ 1 0 0 ,0 0 0 ; o u ts ta n d in g , $ 8 5 ,0 0 0 .
A c tu a l p h y s ica l
v a lu e o f p la n ts, lines an d rollin g s to c k , c o m p le te , $ 1 9 5 ,5 2 4 . V a lu e o f
fra n ch ises, e s tim a te d , $ 3 0 ,0 0 0 . T o t a l, $ 2 2 5 ,5 2 4 .
E a rn in g s fo r y e a r e n d ­
in g O ct. 1 190 6, ba sed o n sta te m e n t fo r fo u r m o n th s fro m O ct. 1 1 9 0 5 ,
$8 1 ,2 0 7 ; n e t, $ 3 3 ,6 4 3 .
In terest ch a rg e o n $ 85 ,000 b o n d s, $ 5 ,1 0 0 ; b a la n ce ,
a p p lic a b le to d iv id e n d s , & c., $ 2 8 ,5 4 3 .
P o p u la tio n , 1 5 ,0 0 0 .
T h e c o m p a n y has re ce n tly a cq u ire d all th e e le ctric ligh t an d street ra ilw a y
bu sin ess o f th e c it y .
F ra n ch ise rig h ts fo r tra ck s on th e p rin cip a l streets
h a v e 45 y ea rs t o ra n ; a p e rp e tu a l an d v ir tu a lly e x clu s iv e fra n ch ise fo r e le ctrc lig h tin g , and p e rp e tu a l fra n ch ise fo r a gas p la n t.
O p era tes 3 M m iles o f
street ra ilw a y an d has freig h t an d p a ck a g e -ca rry in g privileges in c lu d e d In
its fra n ch ises.
H as a c o n tr a c t w ith th e c it y fo r street lig h tin g w h ich m ore
th a n p a y s th e a n n u al in terest ch a rg e on th e b o n d issu e; a ls o e n jo y s a lu c ra ­
tiv e business In co m m e rcia l electric lig h tin g .
• • , •

(E. I.) du Pont de Nemours Powder Co. (of New Jersey)—
Anti-Trust Suit Filed.— The Government, on Tuesday, filed
in the United States Circuit Court for the District of Dela­
ware at Wilmington, Del., a petition against E. I. du Pont de
Nemours & Co (of Delaware), the E .I .d u Pont de Nemours
Powder Co. (of New Jersey), and twenty-four other corpor­
ations and seventeen individuals connected with the enter­
prise, alleging contravention of the Sherman Anti-Trust Act.
T h e p e titio n alleges th a t th e d e fe n d a n ts h a v e a c o m p le te m o n o p o ly o
th e p r o d u c tio n a n d d istrib u tio n o f sm ok eless o rd n a n ce p o w d e r an d co n tro ls
95 % o f th e p r o d u c tio n an d d is trib u tio n o f g u n p o w d e r an d high ex p lo siv e s
o th e r th a n sm ok eless o rd n a n ce p o w d e r.
A s In th e case o f th e A m e rica n
T o b a c c o C o ., th e C ou rt Is ask ed to d e te rm in e w h e th e r p u b lic Interests w ill
b e b e tte r su b se rv e d b y th e a p p o in tm e n t o f receivers t o ta k e possession o f
th e p r o p e r ty o f th e a lleg ed tru st w ith a v ie w o f b rin g in g a b o u t co n d itio n s
in tra d e a n d co m m e rce th a t w ill b e in h a rm o n y w ith th e la w .

Disolution of Delaware Corporation.— On July 27 the Dela­
ware corporation, E. I. du Pont de Nemours & Co., filed
notice of dissolution.— Y. 84, p. 806, 690.

A

ug.

THE CHRONICLE.

3 19 07 .]

Eastern Milling and Export Co. of Pennsylvania.— Sold.—
Receivers David P. Locker and the Security Title & Trust
Co. of York on July 19 filed a deed transferring to Charles
H . Dumpwolf, in consideration of $316,000, the 26 milling
properties heretofore controlled by this bankrupt company,
proceedings against which were instituted in the Circuit
Court of the United States in April 1903.— V. 79, p. 1268.
Eastman Kodak Co. of New Jersey.— Extra Dividend.—
The directors have declared the regular quarterly dividends
1Hj% cm the preferred stock and 23^ % on the common
stock; also an extra 5 % on the common stock, payable Oct. 1
to shareholders of record at the close of business on Aug. 31.
The books will close on Aug. 31 and will re-open on Sept. 16.
The common shares have received regular quarterly divi­
dends at the rate of 10% per annum since Oct. 1902 and
extra distributions as follows:
E x tr a D ivid en d s on C om m on S tock.
J a n . 1 1906.
M a y 1906.
D e c . 1906.
M a y 1907.
2%
2 )4 %
5%
5%
— V . 8 4 , p . 870.

Oct. 1907.
5%

Equitable Illuminating Gas Light Co. of Philadelphia.—
Output.— The statement of gas sold in the city of Philadel­
phia for the quarter ending June 30, as filed with the city
authorities, compares as follows:
i' -C u b ic F e e t o f G as—
1 90 7.
3 m o n t h s _______ ______ _______ 1 ,7 2 5 ,7 6 6 ,3 9 0
6 m o n t h s ______________________3 ,8 3 2 ,6 3 0 ,2 9 0
6 m o n t h s ’ gross r e v e n u e ______
$ 3 ,8 3 2 ,6 3 0
$38 3 ,2 6 3
O f w h c h c it y r e c e iv e s ........... ..
— V . 8 5 , p . 43.

190 6.
1 ,6 3 7 ,8 6 5 ,2 1 0
3 ,5 6 6 ,4 0 7 ,5 4 0
$ 3 ,5 6 6 ,4 0 7
$ 3 5 6 ,6 4 0

1905.
1 ,5 3 3 ,9 2 5 ,5 3 0
3 ,3 7 1 ,3 2 0 ,1 3 0
$ 3 ,3 7 1 ,3 2 0
$ 3 3 7,13 2

Greenfield (Mass.) Gas Light Co.— New Securities A p ­
proved.— The Massachusetts Gas & Electric Light Com­
mission has approved the proposed issue at not less than par
cf $25,000 new preferred stock (par $50), and an issue of
$75,000 first mortgage bonds, 30-year, to bear interest at a
rate not exceeding 5 % . The proceeds are to be applied to
improvements and extensions of plant. By the issue of new
stock the capital stock will be increased to $150,000.
Havana Tobacco Co.— See American Tobacco Co. under
Annual Reports on a preceding page.— V. 84, p. 628.
Heyward Oil Co.— Status— Stock Offered.— William B.
King & Co., Houston, Tex., some time since offered for sale
a small block of the company’s stock at a price to net pur­
chaser about 10% . Their advertisement says:
1 - T h e c om p a n y ^ w a s o rg a n iz e d in 1901 w ith a c a p it a l o f $ 8 0 0 ,0 0 0 , d iv id e d
In t o 8 ,0 0 0 shares o f $100 e a c h .
I t has be e n in e x is te n ce less th a n s is y e a rs ,
a n d d u r in g t h a t t im e has p a id .tw e n ty -tw o q u a rte r ly d iv id e n d s , r e p re se n tin g
76 % o f its c a p it a l s t o c k , o r , In o t h e r w o rd s , lt has p a id in d iv id e n d s d u r in g
t h a t tim e th e su m o f $ 6 0 8 ,0 0 0 . T h e d iv id e n d s h a v e b e e n re g u la r w ith an
a n n u a l a v e r a g e o f o v e r 12 % p e r a n n u m o n t h e p a r v a lu e o f th e s t o c k , an d
f o r 1906 t h e y a m o u n te d t o $21 p e r sh are. T h e first qu a rte rly | d iv ld e n d th is
y e a r w a s $5 p e r sh a re , b u t it Is th e p o l ic y o f th e c o m p a n y t o re s trict th e m
t o $3 p e r share e a ch q u a rte r . T h e c o m p a n y has n o w a p r o d u c t io n o f
a b o u t 1,0 0 0 barrels o f o il p e r d a y . w h ic h is w o rth fr o m 90 c e n ts t o $1 p e r
b a rre l.

Imperial Tobacco Co.— See American Tobacco Co. under
Annual Reports on a preceding page.— V. 78, p. 771.
International Cigar Machinery Co.— See American Tobacco
Co. under Annual Reports on a preceding page.
International Harvester Co.— 30-Y ear Lease.— See Har­
vester Building, Chicago, above.— V. 84, p. 696.
International Power Co.— See American & British Manu­
facturing Co., above.— V. 84, p. 806.
Jersey City Hoboken & Paterson Ry.— Consolidation.—
See North Jersey Street Ry. Co. below.— V. 78, p. 1392.
La Belle Iron Works, Wheeling, W . V a.— Increase.— The
directors, it is stated, have voted to increase the capital
stock from $7,500,000 to $10,000,000, and have recom­
mended to the new board to be elected in September the
declaration of a stock dividend of 33 1 -3 % .— V. 84, p. 53.
Lawrence (Mass.) Gas Co.— Reduction in Price of Gas.—
The directors have voted to reduce the price of gas from 95
cents to 90 cents a thousand feet, to take effect from July 1
last. On Oct. 1 1906 the price was reduced from $1 to 95
cents. The regular semi-annual dividend of $4 a share was
paid Aug. 1.— V. 84, p. 224.
(P.) Lorillard Tobacco Co.— See American Tobacco Co.
under Annual Reports on a preceding page.
Louisville Gas Co.— Deposits of Stock Called for to Protect
Holders in Case of Merger Proposition.— In view of the rumors
recently current that plans were on foot looking to a merger
of the light and heating companies of Louisville, namely,
the Louisville Gas Co., the Louisville Lighting Co., the Louis­
ville Heating Co. and the Kentucky Electric Co., the man­
agers of the first-named company recently gave notice that
deposits of stock of the Louisville Gas Co. would be received
until July 31 by the Fidelity Trust Co. of Louisville, under
the terms of an agreement giving that company until Oct. 1
1907 the right to dispose of all the deposited stock at 120 or
better. The Louisville ‘“'Courier-Journal” says:
T h e L o u is v ille G as C o . has o u ts ta n d in g $ 3 ,6 0 0 ,0 0 0 c a p ita l s t o c k , o f w h ich
$ 9 2 5 ,0 0 0 is o w n e d b y th e c it y o f L o u is v ille .
T h e c o m p a n y o w n s 52 % o f
t h e o u t s ta n d in g shares o f th e L o u is v ille L ig h tin g C o . (a u th o riz e d Issue
$ 3 ,0 0 0 ,0 0 0 , a m o u n t o u ts ta n d in g $ 2 ,6 6 6 ,7 0 0 ), w h ile th e B ra d y -S h e e h a n
In te r e sts , w h o , it has be e n su g g e s te d , m a y b e b a c k o f th e m e rg e r p r o j e c t ,
are r e p o r te d t o h o ld (m o s t o f) th e r e m a in d e r.
T h e L o u is v ille H e a tin g C o .
( V . 7 0 , p . 657) has an a u th o riz e d c a p it a l o f $ 4 ,1 0 0 ,0 0 0 , o f w h ich $ 1 ,6 0 0 ,0 0 0
i s 5 % c u m u la tiv e p r e fe rre d an d $ 2 ,5 0 0 ,0 0 0 c o m m o n : t h e c o m m o n shares
r e c e iv e d 2 % in F e b ru a r y 1904, 3 % In F e b ru a r y 1905 a n d 1 H % t o A u g u s t
1906 a n d F e b ru a r y 1907.

Sale of Bonds.— The company, it is announced, has sold to
the Metropolitan Life Insurance Co. at par its holdings of
$600,000 bonds of the Louisville Lighting Co., guaranteed
by the Louisville Gas Co. (V. 79, p. 2799; V. 77, p. 92;
V. 76, p. 667, 869.)— V . 84, p. 1555.




287

MacAndrews & Forbes Co.— Licorice Consolidation.— See
American Tobacco Co. under Annual Reports on a preceding
page.
Mahoning
Investment
Co.— Dividend.— See
Buffalo
Rochester & Pittsburgh Ry. under “ Railroads” above.—
V. 83, p. 1474.
Manufacturers’ Light & Heat Co. of Pittsburgh.— Earn­
ings.— For the half-year ending June 30 1907:
G ross ___________ __________ $ 2 ,6 0 7 ,0 3 0 1 C h arges, & C - _ - ..................... * f$ 4 1 4 ,6 7 6
N e t (a fte r t a x e s ) __________ 1 ,8 0 3 ,1 2 0 [ B a la n ce , s u r p l u s __________ 1 ,3 8 8 ,4 4 4
T h e ch arg es, & c ., as a b o v e , $ 4 1 4 ,6 7 6 , in c lu d e ; a c c o u n t s c h a rg e d t o p r o fit
an d loss, $ 1 ,6 4 6 ; Interest an d d is c o u n t a n d a ccru e d Interest a n d it a x o n
b o n d s , $41 0 ,3 4 4 ; d iv id e n d s d u e o th e r o w n ers o f a ffilia te d c o m p a n ie s ,
$ 2 ,6 8 6 .

D u rin g th e h a lf-y e a r t h e lc o m p a n y , lt Is s ta te d , p a id o ff $7 8 7 ,5 0 0 b o n d s
an d e x p e n d e d $ 6 6 9,15 0 fo r Increase o f in v e s tm e n ts , n a m e ly : s t o c k o f
a ffilia te d c o m p a n ie s b o u g h t, $ 1 4 3 ,6 3 5 ; in crea se in e x te n s io n s and Im p r o v e ­
m e n ts, $ 2 8 5 ,1 9 4 ; n e w w ells, $ 2 4 0 ,3 2 1 . T h e n et^ decrea se in liab ilities is
figu red at $ 6 7 5 ,3 3 7 .— V . 84, p . 1185.

Michigan State Telephone C o.— New General M anager.—
Bernard W . Trafford, recently General Manager of the Ches­
apeake & Potomac Telephone Co., which operates the Bell
system in Baltimore, Washington and vicinity, has been
appointed General Manager of this company.
Subscribers.— The company reports a total number of
128,684 subscribers of all classes on May 31, an increase of
1,606 for the month of May.— V. 85, p. 37.
Monterey (Mex.) Iron & Steel Co.— Plan Adopted.— A
press report from Monterey sayg;
A t a general m e e tin g o f th e shareh olders o f th e M o n te rey Ir o n & S teel
C o ., an a m e n d e d p r o p o s itio n fo r th e o rg a n iz a tio n o f a su b s id ia r y c o m p a n y
t o ta k e o v e r th e c o n c e r n ’ s e x te n s iv e c o a l p r o p e r tie s w as u n a n im o u s ly
a d o p te d .
T h e p r o p o s itio n p r o v id e s fo r t h e o r g a n iz a tio n o f a c o m p a n y t o
b e ca lle d th e C o m p a n ia C a rb o n lfe ra d e l N o rte , w h ic h sh all h a v e a ca p ita l
s t o c k o f $ 1 1 ,0 0 0 ,0 0 0 M e x ica n c u r r e n c y o r $ 5 ,5 0 0 ,0 0 0 g o ld .
The new cor­
p o r a tio n w ill ta k e o v e r e x te n s iv e c o a l la n d s in E l A la m o an d E n cin a s d is ­
t r ic ts , all o f th e s t o c k o f th e C o m p a n ia C a rb o n lfe ra d e M o n te r e y , th e c o a l
p ro p e rtie s In S an E n riq u e la M erced an d C o lu m b ia d is tricts an d o th e r
h o ld in g s
In th e c a p ita l o f $ 1 1 ,0 0 0 ,0 0 0 th e M o n te r e y Ir o n & Steel C o. w ill
re p re se n t 7 3 .3 1 % , or $ 8 ,0 6 4 ,0 0 0 ; th e C a rb o n ife ra d e M o n te r e y , 1 7 .6 0 % ,
o r $ 1 ,9 3 6 ,0 0 0 ; th e o rg a n iz in g s y n d ic a te , 9 . 0 9 % , or $ 1 ,0 0 0 ,0 0 0 .
(A n o th e r
a c c o u n t says: T h e $ 1 0 ,0 0 0 ,0 0 0 fo r th e c o a l p r o p e r tie s w ill b e p a id as fo llo w s :
$ 6 ,0 0 0 ,0 0 0 in s t o c k o f th e n ew c o m p a n y , $ 3 ,0 0 0 ,0 0 0 In sp e cie an d $ 1 ,0 0 0 ,0 0 0
in c a s h .— E d .)
A large B essem er steel fu rn a ce an d a p p a ra tu s c o m p le te fo r th e m a n u fa c ­
tu re o f B essem er steel u n d e r th e n e w p r o c e s s is b e in g Installed at th e p la n t
o f th e M o n te re y Iron & S teel C o . In th is c it y .
T h e M o n te r e y p la n t has
h e r e to fo r e been m a n u fa c tu r in g o p e n -h e a r th steel.
It Is c la im e d t h a t th e
n e w p ro ce s s w ill result in a s a v in g o f $3 t o $5 p e r t o n as c o m p a r e d w ith th e
p ro ce s s n o w in use. T h e p la n t Is c r o w d e d w ith ord e rs fo r stru ctu ra l steel
f ro m all p a rts o f M e x ic o .— V . 7 8 , p . 1396.

Mt. Carmel (111.) Gas & Electric Co.— Bonds Offered.—
Albert Kleybolte & Co., Cincinnati, are offering for sale the
unsold portion, $135,500,of an issue of $160,000 first mortgage
5 % gold bonds dated Feb. 1 1907, due serially. Interest
payable Feb. 1 and Aug. 1 at American Trust & Savings
Bank, the trustee, Chicago. Unmatured bonds redeemable
on or before Feb. 1 1917 at option of company at 105 and
accrued interest. The $135,500 bonds mature in annual
installments on Feb. 1, viz.: $2,500 yearly, 1914 to 1916;
$1,000 in 1917; $3,000 in 1918 and 1919; $3,500 yearly, 1920
to 1922; $4,000 1923 to 1925; $5,000 1926 to 1930; $8,500 in
1931 and $65,000 in 1932. A circular says in substance:
T h e se b o n d s w e re issu ed fo r th e p u r p o s e o f p a y in g fo r th e u n m a tu r e d
p o r t io n o f an o ld Issue o f b o n d s fo r I m p r o v in g a n d e x t e n d in g th e e le c tr ic
lig h t s y s te m an d o f b u ild in g a h e a tin g p la n t a n d a n e w gas p la n t , a n d are a
first m o r tg a g e on th e e n tire p r o p e r t y .
T h e p r o p e r t y co n sists o f a m o d e m
first-cla ss e le ctr ic lig h t plant., w ith a m p le real e s ta te , an d a first-class c e n tra l
s ta tio n fo rc e d -c irc u la tio n h o t-w a te r h e a tin g s y s te m , p u t in o p e r a tio n ’ J a n . 24
1907 (c o s t , $ 4 0 ,0 0 0 ).
P lan s are n o w b e in g m a d e fo r t h e in s ta lla tio n o f a
gas p la n t w h ic h th e c o m p a n y e x p e c t s t o h a v e In o p e r a tio n b y J a n . 1 1 9 0 8 .
T h e p re se n t p r o p e r t y is e s tim a te d t o b e w o rth a t least $ 2 0 0 ,0 0 0 .
The
fra n ch ises a v e r a g e 33 y e a rs , an d th e c o m p a n y also has a 2 5 -y e a r c o n t r a c t
fo r street lig h tin g an d fu rn ish in g p o w e r fo r th e p u m p in g o f w a te r fo r th e
w a te r-w o rk s , th e c o m p a n y th u s c o n tr o llin g th e e n tire p u b lic u t ilit y p r o p e r ­
ties o f th e c it y . T h e n e t e a rn in gs at p re se n t are n early 2
tim e s th e in ­
te re st o n th e o u ts ta n d in g b o n d s.
T h e re v e n u e d e r iv e d u n d er th e c o n t r a c t
t o furnish p o w e r fo r th e w a te r-w o rk s is m o r e th an s u ffic ie n t t o p a y t h e in ­
te re st o n th e b o n d s .
T h e n e w h e a tin g p la n t sh ou ld in cre a se t h e re v e n u e
a t least $ 5 ,0 0 0 .
W e b e lie v e t h a t th e n e t earn in gs fo r 1008 w ill be m o r e
th a n 3 H tim es th e fixed c h a rg e s. T h e n e t e a rn in g s io r th e m o n th o f J a n u ­
a ry 1907 s h o w an in cre a se o f 30 % o v e r th e sam e m o n th In .1906.— V . 8 4 ,
p . 452 .

National Licorice Co.— See MacAndrews & Forbes Co.
under American Tobacco Co.— V. 84, p. 54.
Niagara Falls Hydraulic Power & Mfg. Co.— New Plant.—
The “ Iron Age” of July 25 says:
T h is c o m p a n y on J u ly 19 raised th e in le t g a tes an d filled th e fo r e -b a y
o f its n ew p o w e r d e v e lo p m e n t w ith w a te r.
I t Is e x p e c t e d t h a t w a te r w ill
b e le t in to o n e o r m ore o f th e 9 -ft . p e n s to c k s this w e e k .
F o u r 10,000 h .p .
u n its are In p la c e In th e s ta tio n b e lo w th e high b a n k .
T h ere are t o b e 13
o f these u n its, m a k in g th e t o t a l-c a p a c it y o f th e n e w s ta tio n 130,000 h .p .
F r o m this p o w e r h o u se t h e A lu m in u m C o. o f A m e r ic a w ill r e c e iv e 37,0 0 0 h .p .
C o m p a re V . 8 3 , p . 1124.

North American Portland Cement Co.— See American
Cement Co. under Annual Reports on a preceding page.
— V. 84, p. 163.
Osceola Consolidated Mining Co.— Ownership of stock by
Calumet & Hecla. See report of Calumet & Hecla on a
preceding page.
Pennsylvania Steel Co. of N. J.— Offering of Guaranteed
Bonds.— See Spanish-American Iron Co. below.— V. 85,
p. 226.
Pennsylvania Water Co., Wilkinsburg, Pa.— Bonds, & c.—
E. H. Gay & Co. have recently been offering for sale a small
block of this company’s 5 % bonds, due 1929; interest pay­
able April and October at Mellon National Bank of Pitts­
burgh. Union Trust Co., trustee.
T h e to t a l a u th o r iz e d b o n d issue Is $ 1 ,5 0 0 ,0 0 0 ; o u ts ta n d in g a t la st a c ­
c o u n t s , $ 1 ,2 1 1 ,0 0 0 , o f w h ic h $50 ,0 0 0 w e re 6 % a n d th e re m a in d e r 5 % .
T h e re are also $ 50 ,000 b o n d s o f th e E a st P itts b u r g h W a t e r C o. (a b s o r b e d ) .
C a p ital s t o c k , $ 7 5 0 ,0 0 0 , all o u ts ta n d in g , $50 ,0 0 0 th e r e o f b e in g n o n c u m u la tiv e 6 % p re fe rre d w ith d iv id e n d s p a y a b le J a n . an d J u ly ; p a r , $50 .
D iv id e n d s o n c o m m o n s t o c k h a v e b e e n p a id In v a r y in g a m o u n ts .
The
c o m p a n y w as In c o r p o r a te d In P e n n s y lv a n ia in 1887 a n d ow n s s o m e 150
m iles o f m a in s , a n d has re se rvo irs w ith a t o t a l s to ra g e c a p a c it y o f m o r e
th a n 3 5 ,0 0 0 ,0 0 0 g a llo n s.
I t c o n tr o ls th e L e e c h b u r g W a te r -W o r k s | C o . and
th e A p o llo W a t e r -W o r k s C o . P r e s ., R . B . M a llo n , P itts b u r g h ; V lc e -P r e s .,
G e o rg e S. D a v is o n ; S e c . a n d T r e a s ., J o s e p h P . M iller, E d g e w o o d . P a .

288

THE CHRONICLE.

Pittsburgh Coal Co.— Bonds Canceled.— The company has
purchased and canceled, from the proceeds of the sinking
fund provided therefor, $3,632,000 of the $25,000,000 Pitts­
burgh Coal Co. of Pennsylvania guaranteed “ first mortgage
and collateral” 5 % bonds of 1904, reducing the amount out­
standing to $21,368,000. Compare V. 82, p. 389.
Tonnage.— The semi-annual payment made this month
($213,435, or $4 27 per share), on account of the purchase of
the $2,500,000 Monongahela River Consolidated Coal & Coke
Co. preferred stock, shows that there was mined from the
Monongahela properties during the six months ending June 30
1907 3,557,246 tons of coal, against 3,342,691 tons in the
same period last year. In the fiscal year ended Oct. 31 1906
6,509,737 tons were mined; in 1904-05, 4,962,750; in 1903-04.
4,158,544. This payment leaves $20 29 of the purchase
price of $45 per share (par $50) still due.— V. 85, p. 44.
Pittsburgh (Pa.) Oil & Gas Co.— Earnings.— For the quar­
ter ended June 30 1907:
R e c e ip t s f ro m o p e r a t io n ____ $3 2 9,56 8 T o ta l in c o m e ------------------------- $ 3 4 1,55 4
11,086 E x p e n s e s , In terest, & e --------- 226 ,824
O th er in c o m e ________________
T o t a l in c o m e _____________ $ 3 4 1,55 4
Surplus fo r 3 m o n t h s _____$1 1 4,73 0
T h e surplus o f $ 1 1 4,73 0 w as ap p lie d as fo llo w s : F o r a d d itio n s , $ 2 5 ,5 5 0 :
r e d u c tio n o f d e b t , $ 87 ,745 ; a d d itio n t o su rplu s, $ 1 ,4 3 5 .
T h e c o m p a n y so ld
4 8 8 ,7 7 8 ,0 0 0 fe e t o f gas an d 154 ,970 barrels o f oil.

Report.— See “ Annual Reports” on a preceding page.
Payment of Bonds.— The company, it is stated, recently
paid off $200,000 of its first mortgage 6 % bonds, making a
total of $600,000 paid to date.— V. 84. p . 1057.
(R. J.) Reynolds Tobacco Co.— See American Tobacco Co.
under Annual Reports on a preceding page.— V. 82, p. 632.

nomination $1,000 (c*&r).
present issue $1,000,000.

[V o l .

lxxxv

.

Authorized issue $5,000,000;

C on densed E xtra cts from L etter o f E . C . F e lto n , P resid en t P e n n . Steel C o.
T h ese b o n d s are th e o b lig a tio n o f th e S p a n ish -A m e rle a n Iro n C o ., a
c o r p o r a tio n o f W e s t V irg in ia , w h ose ca p ita l s t o c k ($ 2 ,4 0 0 ,0 0 0 ) is all ow n ed
b y P e n n s y lv a n ia Steel C o. (o f New' J e rs e y ).
T h e y are p a rt o f an issue o f
$ 5 ,0 0 0 ,0 0 0 a u th o r iz e d , secu red b y a first m o rtg a g e u p o n 2 7 ,870 acres o f
ore lan ds o w n e d in fee an d as m in in g frig h ts (free fro m th e p a y m e n t o f a n y
r o y a lt y ) b y th e S p a n ish -A m e rica n Ir o n C o ., a n d e stim a te d t o c o n t a in
6 0 0 ,0 0 0 ,0 0 0 to n s o f iro n ore. T h e y w ill also b e secu red b y a first m o r tg a g e
u p o n a b o u t 20 m iles o f railroad and in clin ed pla n es, te rm in a ls, d o c k s ,
b u ild in g s, ro llin g s t o c k , fra n ch ise s, rig h ts, & e., n o w o w n e d o r h erea fter
to be acq u ire d In c o n n e c t io n w ith these pro p e rtie s.
T h e p ro p e rtie s are lo ca te d a t M ayari, near N ip e B a y in th e P r o v in c e o f
O rien te o n th e n o rth shore o f C u b a , w h ere w h a t is p r o b a b ly th e b est d eep w a te r h a rb o r in C u b a e x is ts . T h e S p a n ish -A m erlea n Ir o n C o. is n ow
c o n s tr u c tin g a s ta n d a r d -g a u g e ra ilro a d , w ith steel o r c o n c r e te b rid g es and
c u lv e r ts , and a m a x im u m grade o f M o f 1 % , w h ich w ill c o n n e c t th e h a rb or
term in als w ith th e Inclined p la n e s, d o w n w h ich th e ore Is low ered b y
g r a v ity fro m th e to p o f th e m o u n ta in w here th e m in es are lo c a te d .
E le c ­
trica lly o p e ra te d d r y in g a n d storage p la n ts, an d lo a d in g and d isch a rgin g
d o c k s w ill be p r o v id e d .
T h e ore is a su rface d e p o s it w h ich ca n b e ta k en
o u t w ith ste a m sh ovels ju s t as c la y is d u g o u t o f an o rd in a r y c la y b a n k .
T h e lands are larg ely co v e r e d b y p in e tim b e r w h ich w ill c o m m a n d a rea d y
m ark et in C u b a . T h e M ayari ore w h en fre e d fro m th e w a te r show s a high
p e rce n ta g e o f iro n , is v e r y lo w in p h o s p h o ru s , and is oth e rw ise a m o s t
desirable m aterial fo r th e m a n u fa c tu r e o f all h ig h -gra d e steels.
(See
" P e n n s y lv a n ia Steel C o .” In last w e e k ’s " C h r o n ic le ,” p . 226.
A sin k in g fu n d o f 30c. p e r to n has been p r o v id e d on all ore s h ip p ed fro m
th e old m in es o f T h e S p a n ish -A m erlean I r o n C o. in C u ba w h ich are n o w
p r o d u c in g and w ill fo r m a n y years t o c o m e p r o d u c e a b o u t 450 ,000 ton s per
y e a r, as w ell as fro m th e M ayari pro p e rtie s a b o u t t o be d e v e lo p e d .
D u rin g
th e first th ree years th is sin k in g fu n d w ill retire each year at least $12 0,00 0
b o n d s at 100 an d in terest, unless th e y ca n be pu rch a se d fo r less in th e o p e n
m a rk e t: d u rin g th e n e x t 16 years at least $ 27 5,00 0; in th e 20th y ea r at
least $240,000; so th a t th e en tire c o n te m p la te d Issue w ill b e e x tin g u ish ed
at o r p r io r t o m a tu r ity .
T h e b o n d s are fu rth er secured b y th e c o n t r a c t o f th e P e n n s y lv a n ia Steel
C o. o f P e n n sy lv a n ia and M arylan d Steel C o. o f M arylan d (th e su bsid iary
m a n u fa ctu rin g co m p a n ie s o f th e P e n n s y lv a n ia Steel C o . o f N ew J e r s e y ,
to tak e an d p a y for a m in im u m o f 1 ,000,000 to n s o f ore a n n u a lly at a p r ic e
w h ich w ill net a p ro fit o f at least 60 ce n ts per to n t o th e Spanish - A m erica n
Ir o n C o , o r $ 6 0 0 ,0 0 0 ,, w h ile th e m a x im u m p a y m e n ts o n a c c o u n t o f
interest an d sin ik n g fu n d c a n in n o case e x c e e d $ 5 7 5,00 0 p er a n n u m .
The
P e n n s y lv a n ia Steel C o. ( o f N ew Jersey) fu rth erm ore gu aran tees th e p u n c ­
tu a l p a y m e n t o f th e p r in cip a l, interest an d sin k in g fu n d o f these b on d s b y
e n d o rs e m e n t u p o n ea ch b o n d .— V . 72, p . 679.

Rhinelander Paper Co.— Acquisition.— See Spanish River
Pulp & Paper Co. below.
Rio de Janeiro Gas Co.— Incorporated.— This company was
Spanish River Pulp & Paper Co., Orillia, Simcoe County,
incorporated in Maine last June with $6,000,000 of author­
Ont.— Sold.— The “ Toronto Globe” of July 13 states that the
ized capital stock in shares of $100 cach. President, J. F.
Manter; Treas., C. E. Eaton; Clerk, M. W . Baldwin, all of American syndicate which has been negotiating for this com­
pany’s property paid down on July 13 “ $100,000 cash and
Portland, Me.
will pay $1,060,000 on Jan. 1 next, and the balance of $1,St. Louis Car Co.— New Stock.— This company, it is stated, 000,000 at a date to be arranged for, the total price to be paid
has arranged to place in France $3,000,000 7 % preferred for the property being $2,160,000.” The purchasers are
stock having no voting power. An issue of $1,500,000 of headed, it is said, by the Edmonds family, who are largely
6 % short-term notes is also reported in preparation, and interested in the Rhinelander Paper Co. of Rhinelander, Wis.
according to one statement will be used as ' ‘ collateral” for A Canadian financial paper adds:
the preferred stock.— V. 83, p. 1596.
T h e p ro p e rtie s c o m p ris e th e rig h t t o c u t sp ru ce a n d o th e r w o o d s on C row n
Salt Lake Public Service Co.— Option Asked.— The “ Ohio la n d s a lo n g th e S p a n ish , V e rm illio n a n d O n a p ln g riv ers and their tr ib u ­
taries, w ith th e e x c e p tio n o f th e S au bel b ra n ch o f th e Spa nish R iv e r , fo r a
State Journal” of July 31 said:
d ista n ce o f 5 m iles b a c k fro m th e sh ore, in all 50 squ are m iles o f te rrito ry in
L o c a l b o n d a n d sto c k h o ld e r s o f the S alt L a k e P u b lic S e rv ice C o. are b e in g
ask ed for o p tio n s on th eir h o ld in g s by C h ica go m en w h o desire t o ta k e
o v e r an d c o m p le te th e p ro p e rtie s o f th e c o m p a n y .
T h e c o m p a n y w as
org a n iz e d a b o u t a y e a r a go fo r th e p u r p o s e o f fu rn ish in g S alt L a k e C ity
w ith ligh t an d p o w e r , th e cu rren t to b e ge n e ra te d b y w a te r p o w e r .
F ran ­
ch ises h a ve been secu red an d th e c o m p a n y has Its p o w e r h ouses w ell u n d e r
w ay.
T h e offe r , w h ich is b e in g a c c e p te d b y lo ca l h o ld e rs, w ill give th e lo ca l
m en g o o d in terest on th e m o n e y th e y h a ve In ve ste d a n d also re tu rn th em
s o m e p r o fit
T h e C a p ito l T r u s t C o. o f C o lu m b u s is re g istra r o f th e s t o c k
a n d tru stee o f th e b on d s.

A lg o m a d is tric t, to g e th e r w ith th e w a te r-p o w e r an d p u lp m ill near W e b b w o o d .— V . 72, p . 444.

T h e c o m p a n y has d ee m e d it a d v is a b le t o issue $10 0,00 0 c o lla te ra l tru st
n o te s In o rd er t o h ave n o d e la y in c a r r y in g o u t n eed ed e x te n s io n s and
im p ro v e m e n ts , an d has p la c e d w ith th e C o lu m b ia T ru st C o. o f L o s A n g e le s
$15 0 ,0 0 0 o f first m o r tg a g e 5 % .4 0 y e a r g o ld b o n d s as se c u r ity .
Issu ed .
C a p ita liza tion —
A u th orized .
$ 3 ,0 0 0 ,0 0 0
C a p ita l s t o c k ________________________________________ $ 3 ,0 0 0 ,0 0 0
1 ,163,000
F irs t m o r tg a g e sin k in g fund b o n d s ----------------3 ,0 0 0 ,0 0 0
B o n d s w ith tru stee to secure S an J o a q u in P o w e r
172 ,0 0 0
C o .’ s b o n d s - . . ------------------ -------------------------------------- -------------E a rn in g s— Growth S in ce 1902.
Interest.
P r o fit.
Y ear.
G ross E a rn s. G ro s s E x p s. N et E a rn s.
$27 ,912
$54,411
$ 82 ,3 2 3
1903
.....$ 1 2 4 ,0 7 5
$ 4 1 ,7 5 2
3 5 ,3 2 0
1 17 ,824
82,504
1904
174,763
56,939
3 6,1 2 5
107,824
1 43,950
1005
- - 2 06 ,850
62,7 0 0
167,694
4 5 ,1 9 0
122.503
1906 - . . .
2 44 ,094
76.400
E x te n sio n s and im p ro v e m e n ts c o m p le te d w ith in th e y e a r insure a c o n ­
tin u e d increase in earning c a p a c it y .
It has been th e p o lic y o f th e c o m ­
p a n y t o e x p e n d a large p a rt o f its net arn in gs each y e a r in e x te n s io n s and
b e tte r m e n ts o f th e p la n t.
T h e fo llo w in g are th e e x p e n d itu r e s fro n : net
earn in gs fo r b e tte r m e n ts d u rin g th e last fo u r y e a rs: 1903, 8 2 4 ,2 6 1 ; 1904
$61 702: 1905, $ 1 0 7 ,2 * 4 : 190 6, $86 ,5 0 3 ; t o t a l, $ 27 9,81 0.
A n In v en tory o f th e 4 000 acres o f land o w n e d b y th is c o m p a n y , th e s to c k
in th e T u le R iv e r C o ., th e right t o th e w a te rs o f th e N o rth F o r k o f th e San
J o a q u i n R iv e r , t o g e th e r w ith its a u x ilia ry ste a m p la n t in th e c it y o f F re sn o ,
its fra n ch ises and c o n tr a c ts th r o u g h o u t F r e s n o , K in g s and T u lare c o u n tie s ,
a n d its e x te n s iv e d is trib u tin g system n o w ill o p e r a tio n , represen ts an e sti­
m a ted va lu e o f o v e r S 3 ,0 0 0 ,0 0 0 .
In v ie w o f th is fa c t , and th e e x ce lle n t
c o n d it io n o f th e c o m p a n y ’s bu siness, Its large an d Increasin g earn in gs,
to g e th e r w ith th e futu re p o ssib ilitie s, o w in g t o the n o n -c o m p e t it iv e field
in w h ich it op e ra te s , w e c o n sid e r th e b o n d s o f th e c o m p a n y a s e cu rity o f
u n u s u a l m erit, and th e r e fo r e re c o m m e n d th e p u rch a s e o f these 6,w. %
co lla te r a l n otes as a safe sh ort tim e in v e s tm e n t.
D e n o m in a tio n $100 and
$50 0.
In terest p a y a b le sem i a n n u a lly .— V . 8 5 , p. 164.
O ffic e r s — W in . G . K e r c k h o fl. P re sid e n t; A . C. B a leh , V ic e -P r e s id e n t;
J . P . M o o te , S ecreta ry ; L . M . F a rn h a m , A ssista n t S e cre ta ry ; K asp are C o h n .
T r c a u r e r ; A . G . W is h o n . M anager.

A n d erson & P o w e ll, T ra ctio n B u ild in g , C in cin n a ti.
D iv id e n d s p a y a b le
q u a rte r ly . A n a d v e rtis e m e n t sa y s:
" T h is c o m p a n y is o n e o f th e o ld e s t
a n d b e st m a n a g e d c o n ce rn s in th e c it y . T h e earn in i's fo r th e past 5 y e a r s , as
re p o r te d b y ch a rte re d a c c o u n ta n ts , h a v e been m o re th an fo u r tim e s g r e a te r
th an th e d iv id e n d req u ire m e n ts o f this p re fe rre d s t o c k ; th e y w ill b e largely
in cre a s e d w h en th e new p la n t is finished an d t h e assets w ill th e n b e th ree
tm e s th e a m o u n t o f th is Issue.

Tampa (Fla.) Gas Co .— Bond Issue.— This company, in­
corporated under the laws of Florida in May 1905, has made
a mortgage to the Fidelity Trust Co. of Philadelphia, as
trustee, to secure an issue of $1,000,000 5 % bonds dated
May 1 1907 and maturing 1937. Interest dates May and
November, payable at office of trustee. Of the authorized
New Enterprise.— See Utah Gas & Coke Co., below. Com­ issue, $800,000 are reserved for extensions. President Ed­
pare V. 83, p. 895, 1102.
ward Manrara; Sec. and Treas., Frank Bruen.
San Joaquin (Cal.) Light & Power Co.— Offering of Notes—
(Samuel C.) Tatum Co., Cincinnati.— Increased Stock
Report of Earnings, &c.— The Columbia Trust Co., Los An­ Offered.— This company recently increased its capital stock
geles, in offering, at par and interest, the $100,000 6 !^ % from $125,000 (all common) to $225,000 by the addition of
collateral trust gold notes, dated July 1 1907 and due July 1 $100,000 preferred to provide for the erection of a new plant.
1908, secured by $150,000 of the company’s first mortgage
T h e p re fe rre d s t o c k , w h ic h Is 6 % c u m u lat iv e , p a r $ 10 0, re d e e m a b le a fte r 5
40-year 5 % gold bonds, says:
yea rs at th e o p t io n o f th e c o m p n n y at 110, w as r e c e n t ly o lle re d a t 108 b y

Spanish-American Iron Co.— Offering of Bonds Guaranteed
by Pennsylvania Steel Co.— Henry & West, Philadelphia, are
offering at 98
and interest, $1,000,000 first mortgage sink­
ing fund 6 % 20-year gold bonds, guaranteed for principal,
interest and sinking fund by endorsement by Pennsylvania
Steel Co. of New Jersey, a large majority of whose capital
stock is controlled by the Pennsylvania RR. Co. These
bonds are dated July 1 1907 and are due July 1 1927, but
The whole issue or any part is callable on proper notice at
10232- and interest, while for sinking fund purposes only
the bonds are callable at par and interest. Interest Jan. 1
and July 1. Girard Trust Co., Philadelphia, trustee. De­




Traders’ Paper Board Co., Bogota, N. J.— Bonds Offered.—
C. L. Parmelee, 20 Broad St.. recently offered at par and
interest the unsold portion ($150,000) of an issue of $250,000
first mortgage 6 % gold bonds dated Jan. 1 1907 and due
Jan. 1 1927,ibut subject to redemption at 105 and accrued
interest on any semi-annual interest period. Interest pay­
able Jan. 1 and July 1 at the Trust Co. of America, New
York City. Denomination $500 and $1,000. Trustee,
People’s Bank & Trust Co.. Passaic, N. J. A circular says:
I n c o r p o r a te d u n d er th e law s o f N e w J e rse y .
C a pital s to c k : C o m m o n ;,
$25 0 ,0 0 0 ; p re fe rre d , $25 0 ,0 0 0 (rep resen tin g a cash in v e s tm e n t).
O fficers
a n d d ire cto rs : A u g u stu s H . I v in s . P re sid e n t; C alvin G . SutlifT. V ic e -P r e s i­
d e n t N iag ara C o. N a tio n a l B a n k .: C o n ra d Q . C a rv e r, ca p ita lis t, S h a ron ,
P a .; W illia m H . B r y a n , T reasu rer; L ou is B . D a ile y , C o rp o ra tio n T r u st C o .,
J ersey C ity .
T h e M anager, A u g u stu s H . Iv in s, w as fo r e ig h t years th e V ic e P residen t an d G en . M anager o f th e T ra d e rs’ P a p e r C o. o f L o c k p o r t . N . Y .
O w ns in fee si in pie 14 <.£ acres o t lan d at B o g o ta , a su b u rb o f H a c k e n s a c k ,
N . J ., o n th e H a ck e n sa ck R iv e r and the N ew Y o r k S u so u e h a n n a & W es tern
R R ., 14 m iles from N ew Y o r k H a r b o r .
T h e b u ild in gs are o f llr e -p r o o f c o n
c re te steel co n s tr u c tio n th r o u g h o u t, e x c e p tin g w in d o w fra m es an d v e n t i­
lators.
M ain m a ch in e r o o m , o n e s to r y , 356 feet lo n g b y 84 feet w ide at
finishing end and 164 feet at w et e n d ; screen ro o m s , o n e s to r y , each 4 0x1 00
fe e t; heater b u ild in g , th re e sto rie s, 216 feet lo n g b y 84 feet w ide: b o ile r h ou se.
104x62 feet. T h e p a p e r m a ch in e is th e largest In th e w o rld , b e in g 138
Inches w ide an d h a v in g 54 fo u r fo o t d ryers an d th ree s ta ck s o f calen dars
T h e c a p a c ity o f the m a ch in e is 50 to n s o f p a p e r b o a rd p e r d a y .
T h e m ill
has been co n s tr u c te d th ro u g h o u t on th e plan o f Installing, at a later d a te ,
t w ice th e a m o u n t o f m a ch in e ry than is at p resen t s u p p lie d , thus d o u b lin g
th e c a p a c it y .
T h e net earnings on th e presen t o u t p u t o f 50 to n s p e r d a y , .
and at p resen t m a rk e t p rices will be a b o u t $ 1 0 0,00 0 p e r y e a r , a g ain st which
th e Interest ch arg es on $ 2 5 0,00 0 b o n d s Is o n ly $ 15 ,000 .

United Electric Co. of New Jersey.— Lease Approved.—
The stockholders on July 12 approyed the proposition to
lease the property to the Public Service Corporation for 999
years, 196,731 out of 200,000 shares voting affirmatively
and about three-eighths of 1% adversely.— See terms in V.
85, p. 44.
United Illuminating Co. of New Haven, Conn.— New
Stock.— The company will issue $200,000 of the $500,000

A

ug.

3 1 9 0 7 .j

THE CHRONICLE.

289

new stock, authorized last March for the purpose of securing was made public on July 24, when the report of the referee
fluids to pay for laying the underground conduits through approving the accounts of the executor was confirmed by
some of the streets in the centre of the city. The work is the court. The list, published in full in the “ New York
now in progress. The new stock was offered until July 20 Times” of July 25, includes among its leading items the
to holders of record July 1, at par, $100 a share, at the rate following:
S h ares.
V a lu a tion
of one new share for each five shares of old stock held.
9.0 0 0 A m e r ic a n S m e ltin g & R e fin in g C o __________________________$ 4 4 1,00 0
Rates Reduced.— The company has announced a reduction
7 5 2 ,6 7 5
7 ,7 0 0 A m e rica n S m elters S e cu ritie s C o ____________________________
2,211 A m e r ic a n T o b a c c o C o ., p r e fe r r e d ___________________________
141 ,9 4 6
after Aug. 1 in the rate for electricity in New Haven from
32,3 3 1 A m e rica n T o b a c c o C o . , c o m m o n ___________ _____ _______ 5 ,6 5 k ,450
12)^ cents per k.w. hour to 11 cents, with discounts for large
2,5 0 0 A tc h is o n T o p e k a & S an ta F e ______________________ ________
2 4 9 ,5 5 6
22,125 E le c tr ic S to ra g e B a t t e r y _________________________________ ____ 1 ,2 8 3 ,2 5 0
consumers.— V. 79, p. 217.
4 ,2 6 2 M o rto n T ru s t C o _____________________________________________ .3 ,8 2 3 ,0 1 4
United Petroleum Co.— No Longer Controls Union Oil Co.
(500 o f th is s to c k h eld as co lla te r a l on n o te s a p p r o x im a tin g
$ 7 0 0 ,0 0 0 ).
of California.— See report of that company under Annual
2,0 2 6 N a tio n a l B a n k o f C o m m e r c e ___________________ ______________ 4 18 ,622
Reports on a preceding page.— V. 83, p. 499.
2 6 .875 N e v a d a C o n s o lid a te d C o p p e r C o ____________________________
376 ,2 5 0
United States Independent Telephone Co., Rochester,
N. Y .— Reorganization Plan.— The “ Albany Argus” of July
24 gives the following regarding the new plan, which has not
yet reached us:
T h e p la n w as a p p r o v e d b y th e c o m m itte e o f tw e n ty -liv e o f th e b o n d ­
h o ld e r s o l th e U n ite d S ta te s C o m p a n y a t a m e e tin g h eld In th e o ffic e o f th e
S tr om b erg -C a rlson M a n u fa ctu rin g C o . th is a ft e r n o o n . A s a d o p te d , It c o n ­
te m p la te s th e a p p o in tm e n t o f th re e m en as a r e o rg a n iz a tio n c o m m it t e e ,
t o be n a m e d b y M a y o r Jam es G . C u tle r, C h airm an o f th e c o m m itte e o f
t w e n t y -liv e , a n d th e fo re clo s u re a t o n c e o f th e m o rtg a g e s o f th e U n ite d
S ta te s C o m p a n y a n d th e In d e p e n d e n t T e le p h o n e S ecu rities C o .
I t is re co m m e n d e d th a t a n ew c o m p a n y be o r g a n iz e d , w ith a c a p it a l o f
$ 6 ,0 0 0 ,0 0 0 , an d a n ew m o rtg a g e t o secure a b o n d issue o f a m a x im u m
a m o u n t o f $ 5 ,0 0 0 ,0 0 0 .
It also p ro p o s e s th e su b s c r ip tio n b y th e p resen t
b o n d h o ld e rs o f b o t h c o m p a n ie s to th e new b o n d s t o th e a m o u n t o f $ 3 ,0 0 0 ,000 in th e a g g re g a te , e a ch b o n d h o ld e r ta k in g o f th e n ew b o n d s an a m o u n t
e q u iv a le n t t o 20 % o f his p re s e n t h o ld in g s and p a y in g c a s h .— V . 8 4 , p . 1556.

United States Steel Corporation.— Earnings.— See “ An­
nual Reports” and editorial remarks on preceding pages of
this issue.
Strike.— The ore-dock workers at Duluth voted on July 31
to return to their posts but in the Minnesota iron mines
labor conditions remain unsettled, although several mines, it
is stated have been reopened.— V. 80, p. 227.
Utah Gas & Coke Co., Salt Lake City.— New Plant in
Operation.— This company, incorporated under the laws of
Utah on March 22 1906, its bonds being underwritten by
■Granger Farwell & Co. (now the Farwell Trust Co.), has
placed in operation its new gas plant, which has a capacity
of 500,000,000 feet per year, and will supply Salt Lake
City with gas for fuel and illuminating purposes. About
$ 1,200,000 has already been expended on the property, and
it is expected that when the plans in contemplation are fully
carried out the plant will have cost $3,000,000. The com­
pany purchased an entire block between South Temple and
First South and Tenth and Eleventh West streets, and has
laid about 70 miles of mains.
Stock and Bonds.— This company was incorporated with
$2,500,000 capital stock, all of which was issued; par of
shares, $100. A mortgage has been made to the American
Trust & Savings Bank of Chicago, as trustee, to secure an
issue of $3,000,000 first mortgage 5% gold bonds of $1,000
each, dated July 2 1906 and due Jan. 1 1936, but subject to
call, as below stated. Bonds outstanding, $1,500,000. The
plant is arranged in units so that its capacity can be trebled.
O f th e a u th o r iz e d a m o u n t o f b o n d s SI ,0 0 0 ,0 0 0 w as Issued at o n c e , $500,
0 0 0 w as reserved t o b e Issued u p o n r e s o lu tio n o f th e b o a r d o f d ir e cto r s an d
t h e r em a in in g $ 1 ,5 0 0 ,0 0 0 Is re ta in e d b y th e tru ste e ; t o b e issu ed o n ly u p o n
v o t e o f a m a jo r it y o f th e d ir e cto r s fr o m t im e t o tim e t o p a y fo r 85 % o f
t h e c o s t o f p erm a n e n t a d d itio n a l b e tte r m e n ts , e x te n s io n s an d a d d it io n s .
B o n d s are s u b je c t t o c a ll at c o m p a n y 's o p t io n fro m J a n . 1 1011 t o J a n .l
1920 a t 110 a n d in te re s t a n d fro m Ja n . 2 1920 t o J a n . 1 193 6 a t 105 an d
I n terest; a n n u a l s in k in g fu n d 1911 t o 1920 an a m o u n t e q u a l t o 1 % o f th e
p a r v a lu e o f th e o u ts ta n d in g b o n d s a n d fro m 1920 t o 1936 2 % .
In te re s t
p a y a b le Ja n . 1 an d J u ly 1 at o ffic e o f tru ste e , C h ic a g o , o r First N a tio n a l
B a n k , N ew Y o r k .
P r e s id e n t, D ou gla s S m ith ; S e c r e ta r y , J o h n J . B r y a n t
J r . T rea su rer, J o h n B . Sears; a ll o f C h ica g o .

See Salt Lake Public Service Co. above; also in V. 83, p.
895, 1102.
Vacuum Oil Co.— See Standard Oil Co., under “ Annual
Reports” in V. 85, p. 216.
Vicksburg (Miss.) Water-Works Co.— Favorable Decision.
— The United States Supreme Court on May 27 handed down
a decision enjoining the city from interfering with the opera­
tion of the water-works under the ordinance of Nov. 18 1886
(which granted the right to Samuel R. Bullock & Co., or their
successors, for a period of 30 years), provided the rates to
private consumers shall not be in excess of 50 cents per 1,000
gallons of water, as fixed by Section 13 of the ordinance.
T h e c it y rep u d ia te d a n y c o n t r a c t r e la tio n s w ith th e c o m p a n y an d cla im e d
t h e a b s o lu te right t o reg u la te th e rates. T h e U n ite d S ta te s C ircu it C ou rt
f o r th e S ou th ern D is trict o f M ississippi g ra n te d an I n ju n c tio n a g ain st the
c it y , w h ich th e S u p re m e C o u rt a ffir m s , w ith th e m o d ific a tio n , h o w e v e r ,
t h a t th e rates ch a rg e d shall u o t b e in e x ce ss o f th e rate fixed b y th e o r d in a n c e
o f 1886. T h e o p in io n o f J u s tice D a y Is g iv e n in full in th e V ic k s b u r g " D a il y
H e r a ld ” o f Ju n e 12. C o m p a re V . 8 3 , p . 102 .— V . 8 4 , p . 630.

Western Union Telegraph Co.— San Francisco Trouble
Subsides.— The labor difficulty at San Francisco, which
continued in spite of the Eastern settlement, was adjusted
on July 21, the company conceeding, it is understood, an
increase of 25% in wages.— V. 84, p. 1490.
Westinghouse Electric & Manufacturing Co.— Cost of
Recent Loan.— President George Westinghouse on July 31
made the following statement:
T h e $ 6 ,0 0 0 ,0 0 0 o f 6 % 3 y e a r n o te s w h ich w ere au th o riz e d t o p r o v id e fo r
th e retirem en t o f a like issue m a d e in 1904 w ere sold to a s y n d ic a te at 94.
O ffered t o th e p u b lic at 9 7 yi t th e e n tire issue w as ta k e n w ith in five d a y s ,
a n d th e q u o ta tio n s are n o w fr a ctio n a lly a b o v e 99 b id a n d a b o v e 100 ask ed.
A ll th e fa cts w ere g iv e n at th e m e e tin g o f s to c k h o ld e r s, an d th e e x p la n a tio n
w as m a d e th a t th e $ 9 0 0,00 0 re ce iv e d b y th e c o m p a n y fro m Its sale o f
3 0 ,0 0 0 shares o f L a ck a w a n n a & W y o m in g V alley' R a lp d T ran sit C o. s t o c k ,
w h ich ca m e in to th e W e s tin g h o u s e treasu ry as a b o n u s w hen it b o u g h t
th e b o n d s o f th e tr a c tio n e n te rp rise , p r o v id e d fo r all e x p e n se s o f b o t h n o te
Issues, le a v in g a su rp lu s.— V . 8 5 , p . 2 2 7 , 155

Whitney Estate.— Principal Stock Holdings.— A list of the
personal property held by the estate of William C. Whitney




30.875 G u ggen h eim E x p lo r a tio n C o _________________________________ 4 ,0 5 1 ,2 8 4
9,9 0 0 N ew Y o r k T r a n sp o rta tio n C o _ - . __________________________
58,781
9.0 0 0 S ta n d a rd O il C o ___________________________ - __________________ 5 ,6 8 8 ,0 0 0
T h e r e p o rt o f th e referee sh ow s th a t th e p r in c ip a l o f th e e sta te in t h e
h an d s o f e x e c u t o r o n Ju n e 30 a m o u n te d t o $ 2 1 ,9 0 0 ,0 7 5 a n d th e in c o m e t o
$ 63 5,68 9.

— P. W . Brooks & Co., dealers in high-grade investment
bonds, opened their New York headquarters this week in
the U. S. Realty Building, 115 Broadway. P. W . Brooks,
the senior member of this house, is well known among in­
vestors and in financial circles, having been identified for
about sixteen years with the bond and banking house of N.
W . Harris & Co.
For five and a half years Mr. Brooks
was the resident partner in charge of N. W . Harris & Co.’s
bond department at the New York office. Associated with
Mr. Brooks in the new firm will be E. Van Deusen, former
instructor in finance at Tuck School of Dartmouth College.
The new house will devote its attention to the best-known
securities?of relatively small but well chosen and well managed
local undertakings of a quasi-public nature, such as the
modern electric interurban railway and light and power
enterprises.
— Attention is called to the advertisement on another page of
E. H. Gay & Co., Chicago, Boston and New York, offering at
9 8 ^ and interest $475,000 Boston & Worcester Street Ry.
Co. 43^% first mortgage gold bonds, dated Aug. 1 1903 and
due Aug. 1 1923, part of an authorized issue of $2,500,000, of
which $2,085,000, including the above, are now outstanding.
The $475,000 bonds are to be issued for the purpose of de­
fraying the cost of double-tracking the last of the entire
system between the two terminal cities, paying for additional
equipment, etc.
The company has paid six per cent divi­
dends on its stock from the beginning of operation in 1904.
A descriptive circular will be mailed on application.
— The New York Stock Exchange house of Waterman,
Anthony & Co., 67 Exchange Place, this city, have a 15-page
booklet styled “ Conservatism in Speculation” ready for dis­
tribution to all who are interested. This little booklet, copy­
righted by J. J. Corkill, is intended as a concise compendium
on conservative methods of operating in stocks and bonds,
based on past experience in market affairs. Free copies can
be had upon request at any of the firm’s New York offices.
— H. P. Taylor & Co., Pittsburgh, announce that after
August 1 Mr. James W . Wardrop, managing director of the
Chamber of Commerce of Pittsburgh, will be associated with
their firm. Mr. Wardrop, in addition to being well known
throughout Pennsylvania, is broadly acquianted in the East.
He has had extensive experience in the railroad business,
having been identified with the express companies and also
with the New York New Haven & Hartford RR.
— S. H. P. Pell & Co., members of the New York Stock
Exchange, at 43 Exchange Place, have lately established
an investment bond and stock department , which will make
a specialty of New York bank and trust company stocks
and also deal in all unlisted securities. This new addition
to the firm’s business will be under the personal management
of William Wheatley.
— Knoop, Frerichs & Co. announce the dissolution of
their firm. Hannay, Frerichs & Co. will continue the busi­
ness for their own account in the Memphis district and in
Texas, and E. Bornemann & Co., also for their own account,
in New Orleans and Savannah. They will take over all the
new crop sales made in the name of Knoop, Frerich & Co.
— The Harris Trust & Savings Bank of Chicago have pub­
lished a valuable pocket-size pamphlet containing interest
tables arranged to show the amount of interest accrued on a
$1,000 bond on the day of delivery, or any date desired,
without arithmetical computation.
— Redmond & Co. advertise in this issue an August invest­
ment list, including short-term notes, railroad bonds and
public service bonds. Detailed information regarding any
of the securities offered will be furnished on request.
— William F. Ivling has been admitted into the Philadel­
phia banking firm of Verner & Co. Mr. Kling was formerly
Second Vice-President, Secretary and Treasurer of the
Commonwealth Title Insurance & Trust Co. of that city.
— Arthur B .’Griffin announces that, after having been for
nine years with Messrs. Kountze Bros., he will 011 August 5th
open an office at 11 Wall St., for the purpose of conducting
a general bond and investment business.
— The banking house of George D. Cook & Co., 25 Broad
St., New York, have received a cable confirmation of their
contract with the government of Costa Rica, authorizing a
$2,000,000 issue of 6 % gold bonds.

290

THE CHRONICLE.

[V o l .

lxxxv

.

COTTON.
COMMERCIAL EPITOME.
Friday Night, August 2 1907.
Some slackening in the iron and steel trades is noted, while
the copper trade is unsettled. Otherwise business remains
active. The weather has been, in the main, favorable for
crops. Prices in general have been steady.
S tock s o f M erch a n d ise.

A ug. 1
1907.

J u ly 1
1907.

Aug. l
1906.

L a rd _______________ — -------------------------tierces
7,500
8,340
6,772
____
C o co a _ .
_ —
-------bags
11,240
13,152
14,000
C offee, B r a z il___
_ . --------------- —
.b a g s
3,4 7 5 ,8 2 3 3,5 4 2 ,0 3 8 2 ,8 7 6 ,3 8 4
C offee, J a v a _______
- ___ __________ m a ts
134,503
260 ,3 5 0
125 ,000
Co flee, o t h e r ___ __
-------------------------------bags
235,000
252 ,8 8 2
391,910
Sugar -------------------------------------hogsh ea d s
4,859
65,000
3,0 0 0
S u g a r. --------------------- -----------------------b a gs, & c.
98,449
385 ,000
641 ,884
H i d e s _______________ ......................... .................N o .
3,500
2,740
5,000
C o tto n
. ______
----------------------bales
195,350
167 ,382
93,5 6 0
R o s in --------------. ----------------barrels
19,450
14,500
23,0 4 9
S p irits tu rp e n tin e - - -------------------------.b a r r e ls
5,745
4,850
1,107
T a r ----------------------- - - - .......................-b a rre ls
2,500
3,525
1,021
S a ltp etre
___ __
- - - - bags
920
1,500
2,000
M a n ila h e m p . . _
-----------------bales
26,953
27,650
17,725
Sisal h e m p _________ ----------------- — bales
1,852
5,725
3,2 6 6
F lo u r .......... ...................
25,700
32,700
61,000

LARD on the spot has been quiet, with city firm at 8 % c .
and Western easier at 9.10@ 9.20c. Supplies are increasing.
Refined lard has been dull and steady. Continent 9.60c.,
South America 10.25c. and Brazil in kegs 11.75c. Specula­
tion in lard futures at the West has been moderately active.
Early in the week prices were firmer, owing to a strong mar­
ket for live hogs, support from packers and more or less com­
mission-house^ buying. Of late prices have shown a reac­
tionary tendency, owing to increasing receipts of hogs,
the dulness of the spot trade and liquidation.
C L O S IN G P R I C E S O F L A R D F U T U R E S I N C H IC A G O .
Sat.
M on.
T u es.
W ed.
T h u rs.
F ri.
J u ly d e liv e r y ____________ 9.0734
9 .1 0
9 .1 0
9 .1 0 '
____
____
S e p te m b e r d e liv e r y ______9.25
9.27J4
9 .2 5
9 .2 5
9.12J4
9.17^6
O c t o b e r d e liv e r y ___ _____9 .3 0
9 .3 2 )4
9 .3 0
9 .3 0
9 .2 0
9.25

I
Friday Night, August 2 1907.
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
8,931 bales, against 8,030 bales last week and 10,553
bales the previous week, making the total receipts since
the 1st of September 1906, 9,654,159 bales, against 7,720,908
bales for the same period of 1905-06, showing an increase
since Sept. 1 1906 of 1,933,251 bales.
R eceip ts at—

M on.

S a t.

G a lv e sto n . P o r t A r th u r
C o rp u s C h ris ti, &c
N e w O rle a n s.
M o b ile _______ _
P e n s a c o la _______
J a c k s o n v ille , & c.
____
Sav an n ah
B r u n s w i c k ______
C h a r le s t o n ______
G e o r g e t o w n ____
W i l m i n g t o n ____
N o r f o l k _________
N e w p o r t N ., & c .
N ew Y o r k .
. B o s to n
B a lt im o r e _______
P h ila d e lp h ia ____

-------

-------

T o ta ls th is w e e k .

1,120

1,728

T u es.

W ed .

T otal.

F r i.

T hurs.

424

937

192

1,532

46

148
12

291
1

8

2,463
3

13

188

118

100

117

88

242

183

271

5

7

98

152

1
61

12
___

32
4
____

99

33
426

8

40
6

31

91

95

31

40
262

36

73

-------

-------

109

700

4,296

285

802

8,931

3 ,6 7 0

539

2,9 1 0
29
31
713

31
102

70S

The following shows the week’s total receipts, the total
since Sept. 1 1906, and the stocks to-night, compared with
last year:
190 5-0 6.

1906-07.
R eceipts to
A u g u s t 2.

D A IL Y

T h is
w eek.

S in ce S ep
1 1906.

3,670 3 ,8 5 9 ,8 4 6
132,823
C o rp u s C h ris ti, & c .
71,835
N e w O r l e a n s ------2,910 2 ,2 7 1 ,3 2 0
M obile
29
256 ,562
_
P e n s a co la ------------144,509
J a c k s o n v ille , & c .
31
7,708
S a v a n n a h - ______
713 1,4 7 0 ,0 8 4
B r u n s w ic k - _ - 170 ,609
C h arleston - _
708
148,733
___
1,270
G e o rg e to w n ____
33
322 ,396
W ilm in g to n ____
426
N o r fo lk ___________
585 ,242
N e w p o r t N e w s ,& c
42,991
40
23,005
N ew Y ork
_ B o s t o n --------- - . /
262
72,602
B a lt im o r e . --------62,076
109
10,548
P h il a d e l p h i a ------G a lv e s to n —

T h is
w eek.

S in c e S ep
1 1905.

10,156 2 ,5 4 0 ,5 8 7
1 11 ,690
241
38,081
3,287 1,6 3 3 ,4 1 0
1,793
247 ,533
2,916
154,347
17,477
10,859 1,4 9 0 ,0 6 5
184,548
582
173,811
2
1,253
325 ,636
59
2,745
635 ,034
604
22,638
6,575
28
63,469
236
65,006
99
9,748

S tock.
1907.
17,969
29,458

190 6.
1 7 ,1 8 9
_______
2~8 ,971
7,621
_______
_______
3 5 ,0 9 5
700
4 ,6 5 6
_______
300
9,2 1 0
____
9 3 ,4 8 4
3,340
3 ,4 0 3
1,211

2,964
PORK on the spot has been steady. A moderate export
trade has been reported of late but the domestic demand has
18,461
been dull. Mess $18@$18 50, clear $16 75@ $17 75 and
709
family $18 50@ $19 50. Beef has been quiet and steady.
4,068
3 ----------Mess $9 50@ $10, packet $10 50@ $11, family $13 50@$14
131
and extra India mess $21@$21 50. Cut meats have been in
10,638
83
fair jobbing demand, with prices generally steady. Pickled
195,350
shoulders 8 % @ 9 c ., pickled hams 123^c. and pickled bellies,
4,9 1 6
4,7 3 3
14@ 10 lbs., ll@ 1 3 c . Tallow has been dull and easy.
1,242
City 6^gC. Stearines have been quiet and steady. Oleo
8 % c . and lard 11 @ 1 1 J^c. Butter has been moderately
2 0 5 ,1 8 0
8,931 9 ,6 5 4 ,1 5 9 34,017 7 ,7 2 0 ,9 0 8
290 ,722
T o t a l ----------------active and easier; creamery, extras, 24J/£@25c. Cheese has
been quiet and steady; State, f. c., small, colored or white,
In order that comparison may be made with other years,
best, 1 2 ^ c . Eggs have been quiet and steady; Western, we give below the totals at leading ports for six seasons:
average best, 173^@18c.
OIL.— Cottonseed has been dull and easier. Prime sum­ R eceip ts at—
1906.
1905.
1903.
190 2.
1907.
1904.
mer yellow 55c.; prime winter yellow 58@59c. Linseed has
436
3,670
10,807
26,612
320
2 ,2 8 5
G
a
lv
e
s
to
n
,
&c
been dull and easier. City, raW, American seed, 43@44c.; N ew O rle a n s 2,3 8 2
3,287
16,230
2,361
540
2,910
boiled 44@46c.; Calcutta, raw, 70c: Lard has been in M o b i l e _______
402
29
1,793
2,338
630
4
10,859
225
713
13,241
61
558
S
a
v
a
n
n
a
h
moderate demand and steady; prime 75@77c. and No.. 1 C h a r le s to n ,& c
584
1,3 6 2
708
1,282
1
extra 57@58c. Cocoanut has been quiet and firm. Cochin W ilm !n g ’ n,<3cc
66
33
59
1,819
44
8
2,2 4 9
426
2,745
19
10,219
961
1 0 @ 1 0 ^ c . and Ceylon 9@93^c. Peanut has been quiet N o r f o l k ______
458
125
604
N ’ p o r t N ., & c
388
163
and steady; yellow 50@60c. Olive has been in fair demand A ll o th e r s ____
2 ,5 1 7
442
3,279
951
370
2,208
and steady; yellow 70@80c. Cod has been quiet and steady;
1 1 ,9 4 6
1,599
8,931
34,017
T o ta l th is w k .
7 4 ,3 3 7
5,953
domestic 38@40c. and Newfoundland 40@42c.
COFFEE on the spot has been quiet and steady. Rio S lnce S e p t. 1 - 9 ,6 5 4 ,1 5 9 7 ,7 2 0 ,9 0 8 j9 ,849,351 7 ,1 1 7 ,5 1 8 7 ,6 3 6 ,3 2 8 7 ,4 4 9 ,0 2 5
No. 7, 6J^c. West India growths have been quiet and
steady; fair to good Cucuta 8 @ 8 % c . The speculation in
The exports for the week ending this evening reach a total
future contracts has been on a very small scale. Prices have of 18,638 bales, of which 12,788 were to Great Britain,
moved within narrow limits, but on the whole the tone has 703 to France and 5,147 to the rest of the Continent.
been firmer. The European markets have shown unex­ Below are the exports for the week and since Sept. 1.
pected strength at times, and the receipts at Rio and Santos
have continued light. There have also been reports of frost
Week ending Aug. 2 1907. From Sept. 1 1906 to Aug.
Exported to—
Exported to—
in Brazil. The buying, however, has been mainly to cover
Exports
shorts by professional traders, the public ignoring the market.
pom —
Great
\ContiConti­
Britain. France. nent.
Total.
Britain. Fr'nce nent.
The closing prices were as follows:
A u g u s t ___________ 5 .9 5 c . I D e c e m b e r ________ 6 . 0 5 c .| A p r l l ______________6 .1 5 cS e p te m b e r _______ 5 . 9 5 c .'J a n u a r y ___________ 6 .0 5 c . |M a y _______________ 6 .1 5 c O c t o b e r ---------------6 .0 0 c . I F e b r u a r y __________6 .1 0 c .I J u n e _______________ 6 .2 0 c .
N o v e m b e r ______5 .8 5 c . i M a r c h ....................... 0 .1 0 c . |

SUGAR.— Raw has been dull but firm. Centrifugal 96"
degrees test, 3 15-16cm u scov ad o , 89-degrees test, 3 7-16e.
and molasses, 89-degrees test, 3 3-16c. Refined has been
moderately active and firm. Granulated 4.70@ 4.90c.
Teas have been in brisk jobbing demand and firm. Spices
have been dull and steady. Hops quiet and steady.
PETROLEUM.— Refined has been active and firm. Re­
fined barrels 8.45c., bulk 5c. and cases 10.90c. Naphtha
has been active and firm; 73@76-clegrees 18c. in 100-gallon
drums. Gasoline has been active and firm; 86-degrees 21c.
in 100-gallon drums. Spirits of turpentine has been in
moderate demand and firm at 59c. Rosin has been fairly
active and firm; common to good strained $4 50.
TOBACCO.— Domestic fillers in good demand. General
market ruled firm. Sumatra has been in active request at
firm prices. Greater activity is reported in Havana, the
market being strong.
COPPER has been easier; lake 21@213^c.; electrolytic
2 0 @ 2 0 ^ c . Lead has been quiet and easier at 5.10c.
Spelter has been quiet and easy at 5.90c. Tin has been
quiet and easv at 39% c. for Straits. Iron has been easier.
No. 1 Northern 22 20@ $23 20; No. 2 Southern, $22 5 0 @ $ 2 3 J




G a lv e sto n ____
P ort A rth u r...
Corp. Chris. &c
New Orleans._i
M o b ile _______ j
P e n sa co la .......
Fem andina . . j
S a v a n n a h ____I
Brunswick____I
Charleston____j

5,243

1,142

4,508
156
..........
_____
_____
..........
_____

39i

1,771,483 462,177
56,962
4,547
156

700:

166,647 50,866
89,721 ..........

Wilmington.-J ____

N o r fo lk ......... .I
N ewport News
New Y o r k ____
B o s t o n ______
B a ltim o re ____
Philadelphia. .
Portland, M e. .
San Francisco .
Seattle ______

..........
2,413
225
143
100

703

112

55,
54
142

Tacoma..........
Portland, Ore.
P e m b in a .........
D etroit_______

T o t a l ...........j 12,788

2,903

924.855 283,109
74,760 28,069
69,231 29,342

6,019
337
143
100

6,000
125,342
3,112 _____
4.420 _____
212,540 40,553
138,923
89,428 6,182
36.276
7,512 .........

55i
54
142
9,679

703;

,107,700 3 ,341.360
75,861 132,823
578
578
851,646 2 ,059,610
60,406 163,235
56,357 154,930
100
100
707,842 925,355
52,519 142,240
21,393
21.39S
186,265; 317,607
5.695
8,807
1,720
6,140
225,180 478,273
18,015 156,938
67,546! 163,156
4,600i
40,876
7,512
83,072
83,072
96,535! f 6,535
50,098
50,098!
1,0001

1,000

4,176;

4,176
9,679-

5,147 18,638i3,780,891 906,298 3,678,304 8,365 493

Total 1905-06.; 19,750 9,043^ 16,967 45,760!2,862,098740,809 2,843,7116,446.618

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.

A

ug.

THE CHRONICLE.

3 190 7. J
On S h ipb oard , N o t Cleared fo r —

r io o
500

T o ta l 1 9 0 7 . .
T o t a l 1 9 0 6 ..
T o ta l 1 9 0 5 ..

1,920
6,161
38,040

236
250

486
2,262
9,666

1,847
3,199

C oa st­
w ise.

Total.

1,530

3,833
5,330

"1 6
6,430

~ "io
6,430
1,900
700

25,6 2 5
12,639
1 8,461
4,06S
2,954
4 ,2 0 8
193,450
1 1,114

8,321
8,777
19,553

18,203
30,275
95,942

2 72 ,5 1 9
1 74,905
2 91 ,927

1,881

‘ 500
100

'2 0 0
100

5,646
3,827
2 0,595

1,830
9,248
8,088

L ea vin g
fto c k ,

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

July—
Rai
Clo:
August
Rai
Clo:
Sept.—
‘ Rai
Cloi
Oct.—

220

N ew O r le a n s ..
G a lv e s t o n ____
S a v a n n a h ____
C h a rles ton .
M o b i l e ________
N o r f o l k _______
N ew Y o r k ____
O th er p o r ts —

G er­
Other
m an y. F o reig n

Rai
Clo:
Dec.—
Rai
ClO!
Jan.—
Rat
ClO!
Feb.—
Rai
Clos
MarchRai
Clo:
April—
Rai
Clo:
Mav—
Rai
Clof
June—

A u g u s t 2 at—

Great
B ritain . F r a n ce

291

0
7

1° s
atrq
55.
crq® wa
cB'
rqS 1
s 1 SS SS SS s 1
<1
■vj <1 £> Co co to 00
•Vi
^ M to 05 Cl CO 0
1© I© 1© 1© 1©
M MM
MM SS
<1
COCO coco
^
I <1
CO J
Ci Oo co m 05 00 O Cl
MM SS SS SS S m
^3 <1 *sJ*vl 45^
tfcco ci ci
Oc co
Cl 00O
O Cl CI
I© I© 1© 1© 1©
C\5tO
H* tO m to M
to to
>—
1»—I
mto
05 C» 05 ci CO
000
•si CO
CO“vj CIO §1
§1 0*-*^ SI COO
05 CO C<co 0 0
11
050
V-LM
SS SS
1 1 to CO SI to to 2 | SS SS SS MM
O
00
as
COCO 0000 ■vl -vl ■si ^3
Co
05 to
00
^
to o
4*. CO CDCl 05 ci
toco Cl ci
w
|@
I© |© J© 1© 1© 1©
I® I© |© 1© 1©
1

S’S
crq®
SS
1 1 S 1 S 1 SS E 1
CDCO C
O
O
O CO00 00 00
•V]
C5 *sj
to
CD-J CO
|© 1© 1© 1© T© |© 1©
tO
t-1 to I-*
MM
to
as I1 1° O0O-si0
CO0
1 1 §1 21 coo
w
1t-J
1 1 to ro £ 1 to H-4 2 1 ££ SS
1
oco
0
e
s00 GOU<
OC
0 rf*.
O 05 cr
l\3 OS ►
CO
1©
1© |© |© 1©
1©

(iq

1 8 9 1 ,C ___ . . 8 .0 0 !
1 8 9 0 ____ . - - 1 2 . 2 5
18 8 9 ____ ___11.31
1 8 8 8 ____ ___10.94
1 8 8 7 ____ -----1 0 ^
1 8 8 6 ____ . .
9.56
1 8 8 5 ____ . . - 1 0 . 5 0
1884 ~. . - - . 1 1 . 0 0

1 8 8 3 -C ___ . 1 0 .0 6
1 8 8 2 ____ . . . 1 2 . 8 8
1 8 8 1 ____ _ _ _ 1 2 .0 0
18 8 0 ____ . . . 1 1 . 5 6
1 8 7 9 ____ . . . 1 1 . 3 8
18 7 8 ____ . . - 1 1 . 8 8
1 87 7____ - - - 1 1 . 9 4
1 8 7 6 ____ - . - 1 1 . 7 5

M ARKET AND SALES AT N E W YO R K .
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.

S a t u r d a y ..
M onday—
T u esd a y . .
W ednesday
T h u r sd a y .
F r id a y -------

S p o t M a rk et
C losed.

F u tu res
M a rk et
Closed.

Q u ie t, 10 p t s . d e c . .
D u ll ......................
Q u i e t ________
Q u ie t, 10 p t s . a d v . .
Q u iet - - ----------------S te a d y , 25 p ts . a d v .

Q uiet _______
B a re ly s te a d y
Q u iet _______
S t e a d y _______
B a re ly s te a d y
B a re ly s te a d y




S a les o f S p o t an d C ontract.
C on C on­
E x p o rt su m ’ n. tract.
6,700
800
8 ,8 0 0
300

6 ,7 0 0
1,536
8 ,8 0 0
300

7 3 0 16 6 0 0

17,336

’ 736

1

Total.

Wednesda
July 31

6.12|
6.06
8.00
7.44
7.12
6.88
8.00
7 .4 4

13.0 0 0
2 7 ,0 0 0
7 ,0 0 0

Tuesday
July 3 0

__
..
-.
..
-.
..
__
.-

11.47 @ 11
1 1 .5 6 — 11

1 9 0 7 -C . ____ 1 3 . 2 5 j l 8 9 9 . c - . .
1 9 0 6 .._ ____ 1 0.90 1 8 9 8 -1 9 0 5 ._ _ ____ 10.95 1 8 9 7 _____
1 9 0 4 . . - ____ 10.50 1 8 9 6 _____
1 9 0 3 . - . ____ 12.75 1 8 9 5 _____
1 9 0 2 ___ ____ 8.94
189 4_____
1 9 0 1 ___ ____ 8.06
189 3_____
1 9 0 0 ___ ____ 9.75
1 8 9 2 _____

@

N E W YO R K QUOTATIONS FOR 32 YE A R S.
The quotations for middling upland at New York on
August 2 for each of the past 32 years have been as follows:

1 1 ,8 0 @ 1 1
1 1 .9 2 — 11

F ri.
1 3 .2 5

1 1 . 93— 1 1

W e d . T h u r s.
1 3 .0 0
1 3 .0 0

—

T u e s.
12.90

11.89 @ 1 2

M on
12.90

1 2 . 00— 12

J u ly 27 to A u g . 2—
Sat
M id d lin g u p la n d ________________ 12.90

@

The official quotation for middling upland cotton in the
New York market each day of the past week has been:

1 1 .96@ 12
1 2 .0 8 — 12

oft
oft
off
off
Oft
oft
off
o#
off
oft

1 2 . 1 2 — 12

0.12
0.46
0.90
1.25
0.42
0.50
0.78
1.50
1.75
2.00

—

Middling tin g e d .c .
Strict low m id.ting
Low mid. tin g e d ..
Strict g ’d ord. tin*
Fully mid. stained
Middling stain ed ..
Barely mid.stained
Strict low m. stain.
Fully 1. m . stained
Low mid. stained.

1 2 .0 8 @ 1 2
1 2 .1 8 — 1 2

Strict low m id -_c_ 0.14 oft
Fully low m i4____0.32 off
Low m iddling____0.50 oft
Barely low m id___0.70 off
Strict good o r d . . . 0.90 oft
Fully good ord____1.07 oft
Good ordinary___1.25 oft
Strict g'd mid. tgd. 0.30 on
G ood m id. tinged_ Even
Strict mid. tinged. 0.06 oft

1—
@
1 2 . 2 1 — 12 ,23

12.18@ 12
1 2 .2 7 — 12,

Fair .................... c . 2.00 on
Strict m id. fair___1.75 on
Middling fair_____ 1.60 on
Barely mid. fa ir .. 1.25 on
Strict good m id__ 1.00 on
F ully good m id___0.88 on
G ood m iddling___0.76 on
Barely good m id .. 0.57 on
Strict, m iddling___0.38 on
Middling ................ Basis

Monday
July 2 9

@
.0 4 — 12,

Speculation in cotton for future delivery has been on only
a moderate scale, but what with continued hot, dry weather
in some sections, notably in the Southwest, and some bullish
crop reports, prices have advanced. One of these, that of
the “ Journal of Commerce,” put the condition first at 77.5
and later, by correction, at 75.5, an improvement during
July of only 1 .3 % . The Southwestern Cotton Buyers’ As­
H-l k—
1
to to to
to to
to
sociation made it 75, against 70.3 a month ago and 90 last
00
^JOO
coo 00 CO
VI
►fcct CO00
1 1 to C* §1 Co
® 1 COO Cl to 21 ■'-I
0*0 COCO O *sj
year. The Cotton Ginners’ Association’s figure is 75.7.
11
c« ^
ci
Finally came the Government report of 75% , an increase for
^ CD
0
|@
1©
I©
the month of only 3 % . Most of the reports make the im­
provement during July from 1.3 to 5.1% , with a decrease as
1-1 to
to to
OH* O O
CO I
COCO O
r05 Cl CR
coo S I CO•—* M
CO •
1 1 CO00
u1 COcn OOO 0000 10
compared with last year of, roughly, 6 to 10% . In general,
MM SS SS
to to SI
to to to to to
SS
SS 11
SI
1
1
the fact that not a few of the reports made the improvement
w co to
to
O CI Cl ci Cl
00 CO00 COC
00 Cl
ci co to 1—4 Co to U< *sj Co 4^- C
OCO Co 4^
during July unexpectedly small has had a bracing effect.
|© T® 1© T© 1© I© 1© 1© |© 1© 1© 1©
The idea has prevailed that, owing to the late start which
to to to
to
to to
to S £ SS SS SS
coco to I to I t-1to
CDCO 05 05 Cl 05
the crop got, the recent beneficial weather conditions have
1 1 h-*CO as 1 to 1 ^ 0 IS I S coo
<10 £>CO o c » 05
11
not had so salutary an effect as was generally expected, al­
to
to
to
to
KS
to 1
to to to to to M SI
SS SS 11
11
CO
COH-1 to to t o o
000 05 CT CI Cl
►-ICO 0
though there has been some improvement. Some reports,
00
>-*co tfc.cn t-*CT to M Ci
CO00 05 to 05 to
etoo, maintain that the very hot weather in Texas has had an
|© 1© 1© 1© I© 1© 1© 1© 1(e) 1 © 1 © 1©
effect in some degree to keep down the boll-weevil. Yet the
ro<5i
to to to
to to to to toK to to to
to to SS SS
'
►
fc. C*
Co*fc toco toco MIO
O to 05
opinion of very many is that the crop now needs exception­
to CO 0 0
00*4
M 11
to 05 COC5 ® 1 ^ 0
00C
O Cl
1 1 to
§1
ally good weather conditions and an unusually late date of
1
to
IS
1
S
1
s
IS 12
1
1
11
1
s
1
s
IS
1£
killing frost to enable it to catch up. Moreover, a local bull
00 •vJ
O
CO
CO
to
►u
05
OS
CO
CO CO
05
C
O
clique has at timesbeen more or less aggressive,and some of the
1© 1© 1© 1 © 1 © 1® 1© 1© 1© 1 © 1© 1 ©
shorts have to all appearances deemed it advisable to cover,
to
•
to
to
to
s
to
to
s
s
to
even some of the larger members of the bear party reducing
w 11 to
05
1 1 12 11 1w 1g 11 05
IS lg 1CD 12 IS
their interest, if not liquidating it entirely. Meantime, the
Liverpool market has been firm, high premiums, it is reported,
are being paid for the better grades at the South for forward
TH E VISIBLE SUPPLY OF COTTON to-night, as made
delivery, and the reports in regard to the dry goods trade
up by cable and telegraph, is as follows.
Foreign stocks,
are generally regarded as of an encouraging character.
as well as the afloat, are this week’s returns, and
To-day the Government report appeared and had the effect consequently all foreign figures are brought down to
of causing an active and excited speculation at a sharp ad­
Thursday evening.
But to make the total the com­
vance. It was 2 to 5% worse than the generality of people
plete figures for to-night (Friday), we add the item of ex­
had expected. At 75% the condition is 3% better than a
ports from the United States, including in it the exports of
month ago, 7.9% below that of last year, about the same as Friday only.
two years ago, and 7.6% below the 10-year average for
1907.
190 6.
1905.
1904.
August. Towards the close a reaction occurred, owing to S toAcukg uats t L2—
iv e r p o o l ............... b a le s . 9 2 8 ,0 0 0
5 5 2 ,0 0 0
7 6 6 ,0 0 0
3 1 8 ,0 0 0
23,0 0 0
1 5 ,000
1 7 ,0 0 0
28,0 0 0
reports of rains and cooler weather in Texas. Spot cotton S to c k at L o n d o n --------------------------52,0 0 0
5 2 ,0 0 0
27,0 0 0
has been quiet and firm. Middling closed at 13.25c., show­ S to c k a t M a p c h e s t e r ......................... 7 3 ,0 0 0
ing an advance for the week of 25 points.
6 1 9 ,0 0 0
8 3 5 ,0 0 0
3 7 3 ,0 0 0
T o t a l G rea t B tita lu s t o c k ...........1 ,0 2 4 ,0 0 0
to ck at H a m b u r g . . , . r __________
1 4 ,000
13,0 0 0
14,000
41,0 0 0
l-^The rates on and off middling, as established Nov. 21 1906 SS to
c k a t B r e m e n .................. j ______
2 1 1 ,0 0 0
1 64 ,000
227 ,0 0 0
109 ,0 0 0
by the Revision Committee, at which grades other than S to c k at A n t w e r p .............................. . . . . . .
_______
1,000
4 ,0 0 0
9 4 ,0 0 0
8 8 ,0 0 0
106 ,000
S to c k at H a v r e .................................... 165 ,000
middling may be delivered on contract, are as follows:
S to c k a t M arseilles________________
3 ,0 0 0
4,0 0 0
3 ,0 0 0
4 ,0 0 0
S to c k at B a r c e l o n a _______________
S to c k a t G e n o a ........ .......................... ..
S to c k at T rie ste ..................................

2 4 ,0 0 0
2 6 ,0 0 0
4 0 ,0 0 0

2 4 ,0 0 0
9 ,0 0 0
3,0 0 0

3 5 ,000
15,000
18,000

T o ta l C o n tin e n ta l s t o c k s .............

4 8 3 ,0 0 0

3 2 2 ,0 0 0

369 ,0 0 0

332 ,0 0 0

T o ta l E u ro p e a n s t o c k s ..................1 ,5 0 7 ,0 0 0
In d ia c o t t o n a flo a t fo r E u r o p e ___ 1 38 ,000
A m e r ic a n c o t t o n afloa t fo r E u ro p e
6 1 ,5 6 8
E g y p t , B za zil, & c., a flo a t fo r E ’p e
21,0 0 0
S t o c k in A le x a n d r ia , E g y p t ...........
4 4 ,0 0 0
S to c k In B o m b a y , I n d i a ...............
6 7 6 ,0 0 0
S to c k In U . S. p o r ts ................. ......... 2 9 0 .7 2 2
S to c k In U . S. In terior t o w n s ______
94,161
U . S. e x p o r ts t o - d a y _______________
156

9 4 1 ,0 0 0
9 3 ,0 0 0
89,4 9 4
17,000
43,0 0 0
7 2 5 ,0 0 0
2 05 ,180
1 39 ,954
326

1 ,2 0 4 ,0 0 0
142 ,000
195 ,0 0 0
2 0 ,0 0 0
7 3 ,0 0 0
7 3 0 ,0 0 0
387 ,8 6 9
142 ,1 9 5
13,798

7 0 5 ,0 0 0
7 8 ,000
55,0 0 0
20,0 0 0
7 5 ,0 0 0
4 0 1 ,0 0 0
9 2 ,9 0 6
6 7 ,958
5,5 9 4

T o t a l v is ib le s u p p ly ____ _______ 2 ,8 3 2 ,6 0 7 2 ,2 4 8 ,9 5 9 2 ,9 0 7 ,8 6 2 1 ,5 0 0 ,4 5 8
O f th e a b o v e , to ta ls o f A m e r ic a n an d o th e r d e s c r ip tio n s are as fo llo w s :
A m e r ica n —
L iv e r p o o l s t o c k .......................b a le s . 8 0 2 ,0 0 0
438 ,0 0 0
6 8 9 ,0 0 0
214 ,000
M a n ch e ste r s t o c k ........ .............. .........
6 0 ,0 0 0
4 6 ,0 0 0
4 5 ,0 0 0
2 0 ,000
C o n tin e n ta l s t o c k _______ __________
3 9 0 ,0 0 0
2 6 5 ,0 0 0
3 34 ,000
2 0 9 ,0 0 0
A m e r ic a n a flo a t fo r E u r o p e _______
61,5 6 8
8 9 ,4 9 4
1 95 ,000
55,0 0 0
U . S. p o r t s t o c k s . . .............................. 2 9 0 ,7 2 2
205 ,180 .3 8 7 ,8 6 9
9 2 ,9 0 6
U . S. in te rio r s t o c k s ...........................
94,161
134 ,959
142 ,1 9 5
67,958
0 . S. e x p o r ts t o -d a y . ______________
156
326
13,798
5 ,5 9 4
T o ta l A m e r i c a n ________________ 1 ,6 9 8 ,6 0 7 1 ,1 7 8 ,9 5 9
E a st In d ia n , B ra zil, & c .—
L iv e r p o o l s t o c k ____________ _______
126 ,000
1 1 4 ,0 0 0
L o n d o n s to c k ..... ................... ..............
23,0 0 0
15,0 0 0
M a n ch seter s t o c k ........ ........................
13,000
6,0 0 0
C on tin en ta l s t o c k __________________
93,0 0 0
5 7 ,0 0 0
In d ia a floa t fo r E u r o p e ___________ 1 3 8 ,Q00
93 000
E g y p t , B ra z il, & c ., a f l o a t . . ...........
2 1 ,0 0 0
1 7 ,000
S to c k In A le x a n d r ia , E g y p t ______
4 4 ,0 0 0
4 3 ,0 0 0
S to c k In B o m b a y , I n d ia __________ 6 7 6 ,0 0 0
7 2 5 ,0 0 0

1 .8 0 6 ,8 6 2

6 6 4 ,4 5 8

7 7 ,0 0 0
17,000
7 ,0 0 0
3 5 ,0 0 0
1 42 ,000
20 000
7 3 ,0 0 0
7 3 0 ,0 0 0

104 ,000
2 8 ,000
7,0 0 0
123 ,0 0 0
7 8 ,0 0 0
2 0 ,000
75,0 0 0
4 0 1 ,0 0 0

T o t a l E a s t I n d ia , & c .................... 1 ,1 3 4 ,0 0 0 1 ,0 7 0 ,0 0 0
T o ta l A m e r i c a n ________________ 1 ,6 9 8 ,6 0 7 1 ,1 7 8 ,9 5 9

1 ,1 0 1 ,0 0 0
8 36 ,900
1 ,8 0 6 ,8 6 2 1 ,5 0 0 ,4 5 8

T o ta l Visible s u p p ly .......................2 ,8 3 2 ,6 0 7 2 ,2 4 8 ,9 5 9
M id d lin g U p la n d , L iv e r p o o l______
7 .2 8 d
5 .9 8 d .
M id d lin g U p la n d , N ew Y o r k ______
1 3 .2 5 c .
1 0 .9 0 c .
E g y p t , G o o d B r o w n , L i v e r p o o l ..
ll% d
ll^ d
P e r u v ia n , R o u g h G o o d , L iv e r p o o l
1 1 .5 0 d .
8 .6 5 d .
B r o a c h , F in e , L iv e r p o o l__________
6 }^ d .
5?^ d.
T ln n e v e lly , G o o d L iv e r p o o l______
5% d.
5 7 -1 6 d .

2,9 0 7 862 1 ,5 0 0 ,4 5 8
5 .8 7 d .
6 .0 2 d .
1 0 .7 0 c .
1 0 .4 5 c
8 9 -1 6 d . 7 1 5 -1 6 d .
9 .8 0 d .
1 0 .5 0 d .
55^ d.
5% d.
5 9 -1 6 d .
5% d.

Continental imports past week have been 34,000 bales.
The above figures for 1907 show a decrease from last week
of 122,939 bales, a gain of 583,648 bales over 1906, a de­
crease of 75,255 bales over 1905, and a gain of 1,332,149
bales over|1904.

________

___

292

THE CHRONICLE.

« a S ® * : * £ 3 Sis s S 3 £ = S 8 - c S - g
3 = ' S » i ; 5 ? S 3 o « o 0S 0

8 S'S S h s a S i ,

94,161

12,445

5,546.175

21,555 134 ,959

....

Ji o

I 33

T otal, 33 t o w n s _______ __________________________ 6,5627,334,989 18,883

E u fau la,
M o n tg o m e ry ,
Selma,
H elena,
Little R o c k ,
Albany
*
A then s.
A tlan ta,
A u g u sta,
C olum bus,
Macon
R om e,
L ou isville,
S h revep ort,
C olum bus,
G reenville,
G reen w ood,
M eridian,
N atch ez,
V ick sb u rg,
Yazoo City,
St. L ouis,
R a leig h ,
C incinnati
G reen w ood,
M em phis,
N ashville,
B renham ,
Clarksville,
Dallas
Honey G rove,
H o u sto n ,
Paris,

T

o

w

n

s

-

A l a b a m a ....................................
6
21,696
29
267!
.23,593
304
1,321
“
______
45
177,755
106
1,605
217
167,723
453
4,6 8 2
“
______
9 107,357
47
102
234
104,761
418
3,2 9 9
Arkansas ______
________
68,082
____
686
_ ____ 53,988.. 99
“
.................................... 153
241,497
517
4,693:
307
191,259
2,117 18,476
Georgia
______
________
23,000
____ 3 34
29,300
142
1 392
"
______
20
107,396
278
1,700!
355
91,241
1,293
6,067
--------- -------------------- 80
143,337
185
2,975
351
49,245
554
1.311
••
______
514
368,684
894
8,095
1,526
354 614
3,145 14,973
“
__ __
8
55,072
60
698
72
72,631
450 10,868
“
---------128
56,421
1-27
407 *
25
58,584
93
4,3 1 7
“
....................................
. 54,419 300
3,600
75
43,783
254
3,102
K e n tu c k y , n e t - -------------------- 169
8,402
219
100
43
7,644
18
100
L o u is i a n a ........... ................................................
............. 197,575622,888
64
103,263
71
1,349
M is s is s ip p i---------------------51,563
------- 3,688148 36,951
214
309
•*
______
________
66,919
29
1,400
___________ 42,107137156
“
______
________ 80,012 200
500
.
62,885
100
400
“
V - .......
12
97,053
435
1,502
222
74,376
1,504
2,8 8 3
“
______
.....
74,013
35
900
7
47,473
13
239
“
______
________
86,076
282
931
___________ 69,676671,522
“
----------------------55,179 44
400
1
52,758
_. _
390
M is s o u r i .............. ........................1,257 806,032
3,743
6,357
3,155
542,956
3,710 23,091
North C a ro lin a _
6
18,933
50
335
286
15,834
290
818
O h io _____________
500
152,862
1,213
6,500
660
156,108
989
6,201
South C a r o lin a 22,004
------37
75
19,180
. 4,367
T e n n e s s e e ______
1,824
954,211
6,576
33,467
439
799,163
1,374
7,5 1 9
______
64
20,714
145
2,375
168
13,674
130
661
“
T e x a s ..................... ........................
2
16,710
85
400
47
9,293
72
715
“
______
________
39,029
....
________
__ 12,540
“
___________ _____________
__
99,567
____
___
__
80,690
“
___________
___
33,731
____
___
__ 18,872
“
----------------------------------------------------------1,7652,930,707 3,2227,550 3,934 2,073,674
3 643 14,332
___________
___
98,981
____
___
__
66,346
“

Movement to August 2 1907. Movement to August 3
1906.
. -----------------------------------------------------------------------------------------------------------------------------------------Receipts.
ShipStocks Receipts.
Ship- Stocks
------------------ --------------------merits.
A u g . -----------ments.
A u g.
Week.
Season. Week.
2.
j
Week.
Season.
Week.
3.

____

AT TH E INTERIOR TOWNS the movement— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year— is set out
an detail below.

___________ I w jg d n B j< i< i< !< i!0 a g J M O 0 0 a ^ ;»< M g o 0 S ^ ;cu QWEo<_____

The above totals show that the interior stocks have de­
creased during the week 12,321 bales and are to-night 40,788
bales less than at the same time last year. The receipts at
all the towns have been 5,883 bales less than the same
week last year.
OVERLAND MOVEMENT FOR TH E W E E K AND
SINCE SEPT. 1.— We give below a statement showing the
•overland movement for the week and since Sept. 1, as
made up from telegraphic reports Friday night. The
results for the week and since Sept. 1 in the last two years
are as follows:
August 2—
Shipped —
V ia
V ia
V ia
V ia
V ia
V ia

--------1 9 0 6 -0 7 -------- ---------------- 1 9 0 5 -0 6 --------

Since

W eek.

iSept. 1.
8 14 ,591
2 1 7 ,4 2 3
8 5 ,0 0 7
88,881
54,5 8 2
4 29 ,561

St. L o u i s , ...................................- . 3 ,7 4 8
C airo _______ ___________________
396
R o c k I s l a n d ___________________
190
L o u is v i ll e ........ ...............................
215
C in c in n a ti______________________
134
o th e r r o u te s, & c ----------- -----------306

T o ta l gross o v e r la n d ........ ............_ 4 ,9 8 4 1 ,6 9 0 ,0 4 5

Deduct shipments—-

W eek.
3,7 1 0
183
100
745
52
2 ,3 4 7

Since

Sept. 1 .
530,641
201 ,6 2 7
4 4 ,858
102,002
58,141
270 ,365

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

O v erla n d t o N . Y . , B o s t o n , & c ___
411
B e tw e e n I n te rio r t o w n s ____ ______ ____
I n la n d . & c ., fro m S o u t h --------------- 3 ,4 1 5

168,231
93,4 9 8
8 6 ,7 1 3

363
____
2 ,0 2 2

144,798
19,581
71,961

T o t a l t o be d e d u c t e d ........ ............- 3 ,8 2 6

3 4 8 ,4 4 2

2,3 8 5

236 ,3 4 0

L e a v in g t o ta l net o v e r la n d .a ----------- 1,158 1 ,3 4 1 ,6 0 3

4 ,7 5 2

971,294

a I n c lu d in g m o v e m e n t b y rail t o C a n ada.

The foregoing shows the week’s net overland move­
ment has been 1,158 bales, against 4,752 bales for the
week last year, and that for the season to date the aggre­
gate net overland exhibits an increase over a year ago of
370,309 bales.
In Sight and Spinners’
Takings.

----------1 9 0 6 -0 7 ---------- --------------1 9 0 5 -0 6 ----------

Since

Week.

R e c e ip t s a t p o r ts t o A u g . 2 _______
8,931
N et o v e r la n d t o A u g . 2 ------------------1,158
S ou th ern co n s u m p tio n t o A u g . 2 . . 4 8 ,0 0 0

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

T o t a l m a r k e t e d --------------------------- 58,0 8 9 1 3 ,2 7 7 ,7 6 2
In te rio r sto ck s In e x c e s s .................... a l2 .3 2 1
&2.115
C am e in t o sigh t d u rin g w e e k ___ 4 5 ,7 6 8
__________
T o t a In sig h t A u g . 2 .................... .................. 1 3 ,2 7 5 ,6 4 7
N o rth , sp in n ers’ ta k in g s t o A u g . 2 16,950

a D ecrease d u r in g w e e k ,

2 ,6 3 1 ,7 1 8

Since

W eek.

3 4 ,017
4 ,7 5 2
4 7 ,0 0 0

Sept. 1.
7 ,7 2 0 ,9 0 8
971 ,294
2 ,2 1 9 ,0 0 0

8 5 ,7 6 9 1 0 ,7 1 1 ,2 0 2
a 9 ,1 1 0
b218
7 6 ,659
_______ 1 0 ,9 1 0 ,9 8 4
32,296

2 ,3 7 0 ,0 5 1

b Less th a n S e p t. 1.

Movement into sight in previous years:
Week —
1905—
1904—
1903—
1902—

A ug.
Aug
A ug.
A ug.

Bales. | Since Sept. 1—
B ales . W
4 . . . .................... . . 1 0 5 , 7 6 5 1190 4-0 5— A u g . 4 ...................13,2 5 4 ,7 6 2
5 --------------------------- 28,879 1190 3-0 4— A u g . 5 __________1 0,0 5 0 ,4 2 8
7 ......................... ....... 2 4 ,944| 190 2-0 3— A u g . 7 _________ 10,6 5 3 ,7 6 8
8 . . . ......................... 47.3321 1901-02— A u g . 8 _________ 1 0 ,295,857




[V o l.

l x x x v

.

QUOTATIONS FOR MIDDLING COTTON AT OTHER
M ARKETS.— Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week.
Week ending
August 2.

Closing Quotations for Middling Cotton on —
Sat'day. |M onday. Tuesday. Wed'day. Thursd’y. Friday

13
12^
12^
12 H

G a lv e s t o n ______!13
N ew O rlea n s___ 112%
M o b i l e _________ 12 K
Sa v a n n a h ______ 12%
C h a rle s to n ______
W ilm in g t o n ____
N o r f o l k ________ is yt
B o s to n ________ 13.00
B a lt i m o r e _____ 13K
P h ila d e lp h ia ___ 13.15
A u g u s t a ____ . . . 13
M e m p h is _______ 13
St. L o u is ----------- 13 H
H o u s t o n _______ 13
L ittle R o c k ____ 12 H

13

12fs
12^
123^

13M

13 ^
12.90
13 H
13.15
13 H
13

1 2.90

13J4

13.15

13^
13

13K

13

13X

13%
13.00
13 %
13.50
13%
13
13%
13

12%

12.90

13}*

13.25
13 H
13

13X

13 M

12H

12«

13

13

12 H

12 M

13
1254
12^
12%

13

I2yz

13

13

13.00

13^

13.25

1334
13
13 X
13

12%

12%
12^
12%

12%

NEW ORLEANS OPTION M ARKET.— The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
1

Sat'day. Monday, Tuesday, Wed day Thursd'y, Friday,
July 27. July 29. July 30. { July 31. Aug. 1. Aug. 2.
July —
R a n g e ----------C losin g
—
A u g u s t—
R a n g e ----------C lo s in g ----------September —
R a n g e _______
C lo s in g -...........
October—
R a n g e _______
C lo s in g _______
November —
R a n g e ____
C losing'----------December —
R a n g e _______
C lo s in g _______
January —
R a n g e . . . ___
C lo s in g _______
M arch —
R a n g e _______
C lo s in g .............
T on e—

— @ — —
12.50

— 12.48

— © — — @ —

.50
—

— © — 12.50-.5 1 — @ — 12.52 —
12.50

—
.75
— 1 2.41-.5 0 12 .4 0 -.4 5 1 2 .5 3 -.6 5 1 2 .5 6 .6 0 12.65 —

— @ — 1 2 .4 2 -.5 0 12.41-.42 1 2 .5 0 -.5 4 12.58 — 1 2 .5 3 -.7 8
1 2 .4 3 -.4 6 1 2 .4 1 -.4 3 12 .4 1 -.4 3 1 2 .5 2 -.5 4 1 2 .5 6 -.5 9 12 .6 6 -.6 9
12.05-.1 1 12.0 6 -.2 1 1 2 .0 9 -.1 6 1 2 .1 4 -.2 4 1 2 .2 3 -.2 8 1 2 .1 8 -.5 0
1 2 .0 9 -.1 0 12.11-.12 12.10-.11 12.11 — 1 2 .2 4 -.2 5 1 2 .3 5 .3 6

— @ — — © — — @ — — @ — — @ — — © —
12.05-.0 7 1 2.07-.0 9 12 .0 6 -.0 8 1 2 .1 7 .1 9 12.20.22 1 2 .3 1 .3 3
1 2 .0 2 -.0 6 1 2.0 1 -.1 7 1 2.05-.1 0 1 2 .0 8 -.2 0 1 2 .1 9 -.2 4 1 2 .1 3 .4 5
12.0 4 -.0 5 1 2 .0 6 -.0 7 12.0 5 -.0 6 1 2 .1 6 -.1 7 1 2 .19-.2 0112.30-.3 1
12.0 6 -.1 2 12 .0 8 -.2 1 12.1 0 -.1 7 12 .1 4 -.2 6 1 2 .2 5 -.3 0 1 2 .2 1 -.5 0
12.10-.11 1 2.1 2 -.1 3 12.11-.12 1 2 .2 3 -.2 4 12.2 6 -.2 7 1 2 .3 7 .3 8
.26 — © — — @ — — © — 1 2 .3 6 .5 7
— @ — —
12.20-.22 1 2 .2 2 .2 4 12.21-.23 1 2.33-.3 5 1 2 .3 6 .3 7 12.48 .49
Q u iet.
Q u ie t.

Q uiet.
Q u iet.

S te a d y .
Q u iet.

S te a d y .
S te a d y .

Q u iet.

Steady.

S te a d y .
S e ta d y .

W E A TH E R REPORTS BY TELE G R A P H .— Advices to
us by telegraph from the South this evening indicate that
while rain has fallen in most localities the past week, the pre­
cipitation has on the whole been moderate or light,and that
in Texas crops are claimed to be beginning to suffer for lack
of moisture.
From other districts there appear to be no
complaints and some correspondents refer to further improve­
ment in the crop.
Galveston, Texas.— Crops in Texas are beginning to suffer
from lack of general rains. We have had rain on one day of
the week, the rainfall reaching one hundredth of an inch.
The thermometer has ranged from 78 to 90, averaging 84.
July rainfall one inch and forty-six hundredths.
Abilene, Texas.— The week’s precipitation has been twelve
hundredths of an inch, on one day. Average thermometer
83, highest 100 and lowest 66. July rainfall three inches and
twenty-four hundredths.
Brenham, Texas.— We have had rain on one day during
the week, the precipitation being ten hundredths of an inch.
The thermometer has averaged 87, the highest being 100
and the lowest 74. July rainfall two inches and eight hun­
dredths.
Corpus Christi, Texas.— Dry all the week. The thermo­
meter has averaged 83, ranging from 76 to 90. July rainfall
fifty-three hundredths of an inch.
Cuero, Texas.— It has been dry all the week. The thermo­
meter has ranged from 73 to 102, averaging 88. July rain­
fall two inches and fifty-two hundredths.
Dallas, Texas.— We have had no rain during the week.
Average thermometer 84, highest 100, lowest 67. July rain­
fall two inches and sixty-seven hundredths.
Fort Worth, Texas.— We have had rain on two days during
the week, the precipitation being eleven hundredths of an
inch. The thermometer has averaged 85, the highest being
100 and the lowest 70. July rainfall four inches and twelve
hundredths.
Henrietta, Texas.— There has been rain on one day of the
past week, the rainfall reaching thirty-eight hundredths of
an inch. The thermometer has averaged 89, ranging from
68 to 109. July rainfall one inch and a half.
Huntsville, Texas.— Rain has fallen on one day of the week*
the rainfall being ninety-five hundredths of an inch. The
thermometer has ranged from 71 to 99, averaging 85. July
rainfall one inch and eleven hundredths.
Kerrville, Texas.— We have had rain on one day during
the week, the rainfall being ten hundredths of an inch. Aver­
age thermometer 82, highest 100, lowest 63. July rainfall
two inches and seventy-one hundredths.
Lampasas, Texas.— There has been rain on two days of
tha past week, the rainfall being sixty-eight hundredths of
an inch. The thermometer has averaged 86, the highest
being 103 and the lowest 69. July rainfall three inches and
four hundredths.

A

ug.

3 1 9 0 7 .j

THE CHRONICLE.

Longview, Texas.— Rain has fallen on one day of the week,
the rainfall being forty-two hundredths of an inch. The
thermometer has averaged 87, ranging from 77 to 101. July
rainfall one inch and sixty hundredths.
Luling, Texas.— Dry all the week. The thermometer has
ranged from 73 to 99, averaging 86. July rainfall three
inches and seventy-six hundredths.
Nacogdoches, Texas.— Rain has fallen on two days of the
week, the rainfall being fifty-five hundredths of an inch.
Average thermometer 84, highest 97, lowest 71. July rain­
fall two inches and thirty-three hundredths.
Palestine, Texas.— We have had no rain during the week.
The thermometer has averaged 83, the highest being 96 and
the lowest 70. July rainfall seventy-eight hundredths of
an inch.
Paris, Texas.— There has been no rain during the week.
The thermometer has averaged 84, ranging from 70 to 99.
July rainfall four inches and ninety hundredths.
San Antonio, Texas.— There has been no rain during the
week. The thermometer has ranged from 72 to 102, averag­
ing 87. July rainfall two inches and sixty-six hundredths.
Weatherford, Texas.— Rain has fallen on two days of the
week, the rainfall being two hundredths of an inch. Aver­
age thermometer 87, highest 104, lowest 70. July rainfall
three inches and eighteen hundredths.
New Orleans, Louisiana.— It has rained on two days of
tli, week, the precipitation being four hundredths of an inch.
The thermometer has averaged 73.
Shreveport, Louisiana.— There has been rain on one day
the past week, the rainfall being twenty-eight hundredths of
an inch. The thermometer has ranged from 74 to 95, aver­
aging 85.
Leland, M ississippi.— Rain has fallen the past week, the
rainfall being one inch. Average thermometer 79.4, highest
92, lowest 66.
Helena, Arkansas.— Crops have further improved. There
has been light rain on four days the past week, the rainfall
reaching seventy-two hundredths of an inch. The thermo­
meter has averaged 81, ranging from 69 to 96. July rain­
fall one inch and fifty-eight hundredths.
Little Rock, Arkansas.— The weather the past week has been
favorable for growing crops, beneficial rains having .fallen
Cotton is fruiting nicely but is still four weeks late. We
have had rain on one day during the week, the precipitation
reaching thirty hundredths of an inch. The thermometer
has ranged from 72 to 96, averaging 84.
M em phis, Tennessee.— Rain has fallen just as needed and
crop prospects are steadily improving. Rain has fallen on
three days of the week, the rainfall being two inches and
forty-one hundredths. Average thermometer 80, highest
94.6, lowest 68.3. July rainfall three inches and forty-eight
hundredths.
Nashville, Tennessee.— We have had rain the past week, the
rainfall being forty-five hundredths of an inch. The ther­
mometer has averaged 81, the highest being 96 and the low­
est 64.
M obile, Alabama.— Beneficial rains in the interior. The
crop is developing promisingly, and opening in some sections.
The week’s rainfall has been eighty-four hundredths of an
inch, on four days. The thermometer has averaged 80',
ranging from 73 to 91.
M ontgom ery, Alabama.— Crops are steadily improving. It
has rained on four days of the week, the precipitation reach­
ing one inch and forty hundredths. The thermometer has
ranged from 71 to 92, averaging 82. July rainfall four inches
and twenty-nine hundredths.
Union Springs, Alabama.— Where not damaged by heavy
overflows, the crop has made fair progress this week. The
week’s rainfall has been four inches and eighty-five hun­
dredths.
M adison, Florida.— We have had rain on two days of the
past week, the rainfall reaching two inches. The thermome­
ter has averaged 82, the highest being 95 and the lowest 73.
Augusta, Georgia.— Prospects are splendid in most of this
territory, and conditions in the Augusta district warrant a
fair crop. It has rained on four days of the week,, the pre­
cipitation being one inch and eleven hundredths. The ther­
mometer has averaged 81, ranging from 73 to 92.
Savannah, Georgia.— We have had rain on five days dur­
ing the week, the precipitation being one inch and fifty-seven
hundredths. The thermometer has ranged from 73 to 92,
averaging 82.
Charleston, South Carolina.— We have had rain on six days
of the week, the precipitation reaching forty-four hundredths
of an inch. Average thermometer 82, highest 90, lowest 74.
Charlotte, North Carolina.— There has been rain during the
week, the precipitation reaching seventy-six hundredths of
an inch. The thermometer has averaged 79, the highest
being 94 and the lowest 65.
Stateburg, Soidh Carolina.— There has been rain on five
days during the week, heavy on two, the precipitation reach­
ing two inches and twenty-one hundredths. The thermo­
meter has averaged 80, ranging from 70 to 92.
Ardmore, Indian Territory.— Light rains over this section
have been very beneficial and crop prospects have improved.
Cotton is fruiting nicely and fields are in a fine state of cul­
tivation .




293

W O R L D ’S SUPPLY AND TAKINGS OF COTTON.—
The following brief but comprehensive statement indicates
at a glance the world’s supply of cotton for the week and since
Sept. 1, for the last two seasons, from all sources from which
statistics are obtainable; also the takings, or amount gone
out of sight, for the like period.
Cotton Takings.
Week and Season.

190 6-0 7.
W eek .

S eason .

190 5-0 6.
W eek .

S ea son .

V is ib le s u p p ly J u ly 26 _ . _____ 2 ,9 5 5 ,5 4 6
2 ,630,631
V is ib le supD ly S e p t. 2 ___
___
1 ,7 8 4 4 5 6
2 ,5 4 5 ,4 7 0
A m e rica n in sigh t t o A u g . 2 ____
45,7 6 8 1 3 ,2 7 5 ,6 4 7
’ 78 ,659 10,9 1 0 ,9 8 4
1 2,000 3 ,0 1 7 ,0 0 0
B o m b a y r e c e ip ts t o A u g . 1. ___
6,000 2 ,5 3 9 ,0 0 0
O th e r In d ia sh lp ’ts t o A u g . 1 ___
434 .0 0 0
16,000
8 ,0 0 0
3 63 .000
A le x a n d r ia r e c e ip ts t o J u ly 3 1 - 100
914 ,800
7 83 ,500
100
O th e r s u p p ly t o J u ly 31 .a
7,000
4 0 2 .0 0 0
7,0 0 0
4 9 6 .0 0 0
T o t a l s u p p ly ___________ _______ 3 ,0 3 6 ,4 1 4 1 9 ,8 2 7 ,6 0 3 2,4 7 8 ,3 9 0 1 7 ,6 3 7 ,9 5 4
D ed u ct —
V is ib le s u p p ly A u g . 2 ___________ 2,8 3 2 ,6 0 7
T o ta l ta k in g s t o A u g . 2 --------------O f w h ich A m e r ic a n , _______
O f w h ic h o t h e r ________________

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

2 03 ,807 1 6 ,9 9 4 ,9 9 6
1 21 ,707 12,4 6 5 ,1 9 6
82,1 0 0 4 ,5 2 9 ,8 0 0

2 ,2 4 8 ,9 5 9

229,431 1 5 ,3 8 8 ,9 9 5
172,331 1 1 ,3 7 0 ,4 9 5
57,100 4 ,0 1 8 ,5 0 0

a E m b r a c e s r e c e ip ts in E u ro p e fro m B ra z il, S m y rn a , W e s t In d ie s , & c.

DOMESTIC EXPORTS OF COTTON MANUFACTURES
— We give below a statement showing the exports of domestic
cotton manufactures for June and for the twelve months
ended June 30 1907, and for purposes of comparison like
figures for the corresponding periods of the previous year
are also presented:
Quantities of Manufactures of Cot­ Month eiidine June 30.
ton (colored and uncolored)
Exported to—
1906.
1907.
United K in g d o m ________________
G e r m a n y ______ ______________

148,383
29,231
122,892
668,578

130,632
949,989

B r a z i l ....... ................... ............ ........
Chile_____________________________
Colombia ___________ _____ _____
V en ezuela________ . ................ ..
Other South Am erica____________
Chinese Em pire_______________
British East I n d ie s ..........................
H ongkong
J a p a n __ _____________ __
British Australasia________ _____
Philippine Islands. - ___ ____
Other Asia and Oceanica................
British A frica ,- ___________ ___
All other A frica__________________

2,946,898
233,242
668,919
1,649,833
79,248
843,256
1,191,462
1,071,950
236,911
645,724
3,086,840
141,545
5,000
5,290
1,538,273
752,153
251,257
47.259
20,000

1.841,769
131,054
921,274
2,433,673
161,178
541,490
959,291
1,095,952
438,067
450,520
23.499,621
941,911
36,805
25,528
650,071
722,857
4,152,914
404,645
227,243

Total yards of a b o v e .................
Total values of ab o v e __________
Value per yard________________

16,384,144
$1,172,867
8.0716

British North Am erica___________
Central Am erican States and
British H onduras____________
M exico ______ __________________
C u b a ______ _____
___________
Other W est India and B erm uda ..

Value of Other Manufactures of
Cotton Exported to
United K in g d o m ______________
Belgium ____ __ _ ______________
(ierm any __________________ ____
Other E u ro p e ___________________
British North Am erica. _ ........ ..
Central American States and
British H o n d u r a s ......................
Mexico _____________ ____ _______
C u b a ___________________________
Other W est Indies and Berm uda.
South Am erica...................... ..........
Chinese E m p i r e . ........................
Japan______
___ _ . . . .
British Australasia. ........................
British A frica. ........................
Other countries ............................

199,503

12 Months end. June 30.
1906-07.

1905-06.

2,782,931
151,189
1,397,664
8,530,059

2,995,794
538,676
1,863,779
9,988,015

30,233,138 27,746,701
2,805,585
2,686,285
15,917,045 20,386,876
33,229,770 31,310,002
1,711,974
2,527 466
8,363,354
6,400,755
12,791,789 14,103,458
15,956,554 12,908,600
6,415,923
6,284,586
8,591,376
6,753,509
86,454,028 498,521,402
9,799,990
9,170,688
636,899
374,963
729,613
2,066,388
9,794,842
8,462,645
3,836,059
20,551,231
41,760,937 32,343,080
8,794,621
7,355,707
773,684
1,032,953
800

40,915,987 326,340,329 711,493,054
$2,781,908 $21,239,247 $43,181,860
$.0680
$.0607
S.0651

$67,780
4,155
5,625
8,261
78,534

$95,969
2,098
11,848
10.298
93,966

$989,454
18,538
61,858
75,344
973,205

$904,314
36,960
158,622
67,218
1,032,338

60,303
39,488
42,074
23,750
14,024
912
404
38.452
12,912
26,314

19,247
22,336
25,293
12,743
7,527
19,606
36,047
27,309
16,606
5,750

445,802
324,395
385,454
197,099
109,834
219,487
47,393
359,234
110,466
476,663

269,056
285,406
265,888
155,000
95,444
129,700
104,980
299,259
271,031
263,359

T o t a l ______________ ________

$422,988!

$406,644

$4,794,226

$4,338,575

W aste, cotton m ill______________
Yarn .
..
. . .
____ .
All o t h e r ____________ ___________

$233,629
18,415
277,139

$203,828
41,901
275,315

$2,366,454
328,638
3,576,847

$1,852,154
365,452
3,205,992

Total manufactures o f ________

$2,125,038

$3,710,596 $32,305,412 $52,944,033

COTTON CONSUMPTION AND OVERLAND MOVE­
MENT TO AUGUST 1.— Below we present a synopsis of
the crop movement for the month of July and the eleven
months ended July 31 for three years:
1 90 6-0 7.

1 9 0 5 -0 6 .

1 90 4-0 5.

54,682
3 0 ,0 9 2
G ross o v e r la n d fo r J u ly ____________ b a le s .
29,391
,688,297 1 ,203,389 1,5 3 8 ,9 4 1
G ross o v e r la n d fo r 11 m o n t h s ____________
41,1 $5
1 3,566
15 ,490
N e t o v e r la n d fo r J u ly _____________________
9 67 ,569 1 ,2 5 5 ,1 2 2
,340,730
N et o v e r la n d fo r 11 m o n t h s _______________
128 627
3 72 ,610
49,0 6 9
P o r t re ce ip ts in J u ly _______________________
,653,072 7 ,7 0 8 ,6 2 7 9 ,7 9 9 ,8 6 4
P o r t receip ts in 11 m o n th s ________________
1 88 ,426
3 06 ,250
1 9 3 ,9 7 5
E x p o r ts in J u ly ___________________________
65,153 6 ,4 3 9 ,4 2 7 8 ,425,001
E x p o r ts In 11 m o n th s _____________________
3 92 ,535
292 ,413
2 05 ,060
P o r t s to ck s o n J u ly 3 1 ____________________
,628,385 2 ,3 5 6 ,9 8 5 2 ,3 1 5 ,6 4 6
N o rth e rn sp in n e rs’ ta k in gs t o A u g . 1 ____
,266,000 2 ,1 9 5 ,0 0 0 2 ,0 3 5 ,0 0 0
S ou th ern c o n s u m p tio n t o A u g . 1 ________
O v e rla n d t o C a n a d a fo r 11 m o n th s (in ­
12 2 ,1 4 0
1 11,378
115 ,297
c lu d e d in n e t o v e r la n d )________________
500
1 3 ,4 0 9
2 6 ,738
B u rn t N o rth an d S o u th In 11 m o n t h s ____
6 ,6 5 5
6 ,0 6 9
31,324
S to c k at N o rth e rn in te rio r m a rk e ts A u g . 1
212 ,635 !
2 8 8 ,1 1 7
544 ,1 5 6
C am e in sight d u rin g J u ly __________________
A m o u n t o f cr o p in sigh t A u g . 1 ___________ 13 ,2 6 4 ,8 0 2 '1 0 ,8 7 4 ,1 9 6 1 3 ,1 8 4 ,9 8 6
...............
4 4 5 ,6 6 4 !
3 71 ,855
C a m e in sigh t b a la n ce s e a s o n _____________
________ i l l ,319,80011 3,55 6,8 41
T o ta l c r o p ___________________________________
5 1 4 .6 3
5 1 0 .0 9
513.01
A v e ra g e oross w e ig h t o f b a le s ____________
492.131
486.591
4 9 0 .7 8
A v e ra g e net w e ig h t o f b a le s -----------------------

JUTE BUTTS, BAGGING, &c.— The market for jute
bagging has continued dull during the week under review,
with prices unchanged at 9 ^ c . for 2 lbs., standard grades.
Jute butts continue dull at 3@ 4c . for bagging quality.

294

THE CHRONICLE-

IN D IA COTTON MOVEMENT FROM ALL PORTS.—
The receipts of cotton at Bombay and the shipments from all
India ports for the week and for the season from Sept. 1 for
three years have been as follows:
A u g u s t 1.
R eceip ts at—

I
W eek .

B o m b a y -------------------

1905-06

190 6-0 7.
S in ce
S ep t. 1.

6.0 0 0 2 ,5 3 9 ,0 0 0

T o t a l all—
1 9 0 6 -0 7 ___________
1 9 0 5 -0 6 ___________
1 9 0 4 -0 5 ....................

2 2 ,0 0 0 j2 ,6 5 8 ,0 0 0

S in ce Septem ber 1.

F o r the W eek .

B om bay—
1 9 0 6 -0 7 ____ ______
1 9 0 5 -0 6 ___________
1 9 0 4 - 0 5 .. . . . . .
C a lc u tta —
1 9 0 6 -0 7 .......... .........
1 9 0 5 -0 6 .. _______
1 9 0 4 -0 5 ....................
M a d ra s—
1 9 0 6 -0 7 ___________
1 9 0 5 -0 6 ____ ______
1 9 0 4 -0 5 _________
A ll oth ers—
1 9 0 6 -0 7 .. _______
1 9 0 5 -0 6 ___________
1 9 0 4 -0 5 ___________

1 S in ce
W eek , j S ep t. 1.

1 S in ce
S ep t. 1.

W eek .

1 2 ,0001 3,0 17,0 00
I

Great
C o n ti­
B ritain . n ent.

1904-05.

Total.

Great
B rita in .

C o n ti­
nent.

Total.

1 6,0 0 0
8.000
16,000

16,000
8,0 0 0
17,000

3,000
1,000
1,000

4,000
1,000
1,000

9,000
7,0 0 0
3,000

145 ,000
1 14 ,000
42,000

154,000
121,000
4 5 ,000

4,000
2,000
1,000

4,000
2,000
1,000

5,000
3,000
3 ,0 0 0

34,000
46,0 0 0
15,000

39,000
49.000
18,000

2 000
1 000
1,000

6,000
4,000
8,0 0 0

8 000
5,000
9,0 0 0

14,000
21,000
12,000

227 ,000
172,000
232 000

2 4 1 ,0 0 0
193,000
2 44 ,000

3,0 0 0
1,000
2,0 0 0

2 9 ,000
15,000
26 000
'

3 2 ,0 0 0
16,000
28,0 0 0

1,000
1,000

63,000 1 ,1 4 3 ,0 0 0 1,206,000
57,000
868 ,0 0 0
925.000
22,000
43 3 ,0 0 0
455 ,0 0 0

91,0 0 0 1 ,5 4 9 ,0 0 0 1 ,6 4 0 ,0 0 0
88,0 0 0 1 ,2 0 0 ,0 0 0 1 ,2 8 8 ,0 0 0
40,0 0 0
7 2 2 ,0 0 0
762 ,0 0 0

A L E X A N D R IA RECEIPTS AND SHIPMENTS OF
COTTON.— Through arrangements made with Messrs.
Choremi, Benachi & Co., of Liverpool 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:
A le x a n d r ia , E g y p t,
J u ly 31.

190 6-0 7.

190 5-0 6.

1904-05.

R eceip ts (ca n tars) —
T h is w e e k ______________
S in c e S e p t. 1 . . ______

600
6 ,800,981

400
5 ,8 7 6 ,0 2 0

6,000
6 ,2 3 3 .0 4 3

T h is
S in c e
w eek. S ep t. 1.

T h is ; S in ce
w eek. S ep t. 1.

T h is
S in ce
w eek. S ep t. 1.

3,750 2 17 ,5 9 8
204 ,784
* 5 0 0 347 ,279
1,200 1 16 ,128

3,0 0 0 203,439
____ 174,006
1,500 327 ,533
500: 69,877

3,000 228,185
152,499
3 '6 6 6 331 ,785
700 7 5 ,3 5 0

JExports (bales) —
To
To
To
To

L iv e r p o o l______________
M a n c h e s t e r ___________
C o n t i n e n t ____________
A m e r ic a _______________

T o ta l e x p o r ts _ _

____

N o te .— A ca n ta r Is 99 lb s .

6,5 0 0 885 ,789

5,0 0 0 774 ,855
6,700 787 ,8 1 9
1
E g y p tia n bales w e ig h a b o u t 750 lb s.

THE AGRICULTURAL DEPARTM ENT’S AUGUST
R EPO RT.— The following statement, showing the condition
of cotton on July 25, was issued by the Department of Agri­
culture August 2:
T h e C rop R e p o r t in g B o a rd o f th e B u rea u o f S ta tis tics o f th e D e p a r tm e n t
o f A g ricu ltu re , fro m th e re p o rts o f th e co r re s p o n d e n ts an d agen ts o f th e
B u rea u , find s th e a v e ra g e o f c o t to n on J u ly 25 t o h a ve b e e n 7 5 , a g ain st 72
o n Jun e 25 1907, 82.9 on J u ly 25 last y e a r an d 74.9 at th e c o r re s p o n d in g
d a t e in 1905.
T h e fo llo w in g ta b le gives th e c o n d it io n o n J u ly 25 o f this y e a r , a n d th e
p r e c e d in g y e a r , w ith th e r e s p e c tiv e 1 0 -y e a r av e ra g e s; also th e c o n d it io n
o n Ju n e 25 1907:
J u ly 25
J u n e 25
J u ly 25
10- Y e a r
1907.
1906.
1907.
A v er a g e .
N o rth C a rolin a . .
75
84
72
75
S o u th C arolina
81
79
72
81
G e o r g ia ----------------81
74
78
83
A la b a m a .................
72
68
83
82
M is s is s ip p i----------71
88
67
82
L ou isia n a ----------71
66
88
84
T e x a s ____________
75
72
86
82
A r k a n s a s ________
68
84
67
89
T e n n e s s e e ________
75
69
88
85
I n d ia n T e r r ito r y .
74
73
85
88
O k l a h o m a .............
74
74
92
86
U n ite d S ta te s -

75

72

82.9

82.6

es in earlier years for all the States
were, according to the Agricultural Department, as follows:
74.8 in 1905; 91.6 in 1904; 79.7 in 1903; 81.9 in 1902; 77.2 in
1901; 76.0 in 1900; 84.0 in 1899; 91.2 in 1898; 86.9 in 1897;
80.1 in 1896; 77.9 in 1895; 91.8 in 1894; 80.4 in 1893; 82.3 in
1892; 88.9 in 1891; 89.5 in 1890; 89.3 in 1889; 87.3 in 1888;
93.3 in 1887; 81.3 in 1886, and 96.5 in 1885.
As a matter of interest in connection with the foregoing
report, we subjoin a statement showing for a series of years
the acreage and yield, according to our compilations, and the
condition on Aug. 1 (July 25) as reported by the Department:
A rea,
A cres.
1 9 0 7 -0 8 .................... ......................... .3 3 ,0 7 9 ,4 2 5
1 9 0 6 -0 7 ___________
19 0 5 -0 6 ___________ --------------- -------2 8 ,8 0 8 ,4 1 5
1 9 0 4 -0 5 . . _______
1 9 0 3 -0 4 ___________ -------------------------2 8 ,9 9 5 ,7 8 4
1 9 0 2 -0 3 ___________
1 9 0 1 -0 2 . . . _____
1 9 0 0 -0 1 .................... _____ - - - - - . 2 6 ,5 3 4 ,0 0 0
1 8 9 9 -0 0 _ ______ -------------------------2 4 ,1 7 5 ,0 0 0
1 8 0 8 - 9 9 .......... .. . .. -------------------------2 3 ,1 7 5 ,0 0 0
1 8 9 7 -9 8 ___________ -------------------------2 3 ,0 2 9 ,0 0 0

Y ield ,
B a les.
1 1,319,860
13,556,841
10,123,686
10,7 5 8 ,3 2 6
10,701 ,453
10,425,141
9 ,4 3 9 ,5 5 9
11 ,235,383
11,1 8 0 ,9 6 0

C on d ition .
P e r C ent.
75.0
82.9
74.9
91.6
79.7
81.9
77.2
76.0
84.0
91.2
86.9

MANCHESTER M ARKET.— Our report received by
cable to-night from Manchester states that the market
is quiet for yarns and steady for shirtings. Merchants are
buying very sparingly. We give the prices for to-day below
and leave those for previous weeks of this and last year
for comparison.




[V O I*. L X X X Y .
1907.

32s Cop.
Twist.
June
21
28
July
5
12
19
26
Aug
2

1906.

8 * lbs. Shirt­
in gs, common
to finest.

Cot'n
Mid.
U p ls

8 * lbs. Shirt­
ings, common
to finest.

32s Cop.
Twist.

C ot’n
MU.
U pl’s

d.
11 1-16 @
11 1-16®

d. s. d.
1 2 * 6 11
1 2 * 6 11

s. d.
@ 10 2
@10 2

d. d.
7.04 9 *
7.15 9 *

@
@

d. s. d.
10* 6 8
10* 6 8

@9
@9

s. d.
9
9

d.
6.12
6.10

11 1-16@
11
@
10*
@
10*
@

12%
12^
12*
12*

@10
@>10
@10
@ 10

7.31
7.18
7.06
7.16

@
®
@
@

io *
10*
10
10*

@9
@9
(a)9
@9

9
9
9
9

6.08
6.12
6.07
6.03

10*

12* 6

s*

5.98

@

6 11
6 10
6 9
6 9
9

3
3
3
4

@ 10 4 *

9*
9 5- 16
9*
9%

7.28 9 5-16 @

6
6
6
6

8
8
8
8

105* 6

7 * @9

SHIPPING N E W S.— As shown on a previousfpage, the
exports of cotton from the United States the past week have
reached 18,638 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:
T otal bales.
Y O R K — T o L iv e r p o o l— J u ly 29— C a ro n ia , 50 fo r e ig n ____
J u ly 31— A r m e n ia n , 278 u p la n d , 1,249 fo r e ig n -------A r a b ic , 1
u p la n d , 819 fo r e ig n _____________ __________________________________ 2,3 9 7
16
T o M a n ch ester— J u ly 29— T itia n , 1 6 ________ - — ................... ............
T o H a v r e — J u ly 27— C a lifo rn ie , 284 u p la n d , 219 fo r e ig n ________
503
T o M arseilles— J u ly 30— G erm a n ia , 2 0 0 ___________________________
200
T o B rem en — J u ly 31— P rin zess A lic e , 2 1 1 ________________________
211
T o A n tw e r p — J u ly 2 6 — F in la n d , 9 _________________________________
9
T o G e n o a — J u ly 26— K o e n ig e n L u ise , 2 ,4 3 7 — J u ly 27— V ir ­
g in ia , 2 0 0 ...........- ............................................................ ..................... ............2,6 3 7
T o N a p le s— J u ly 26— K o e n ig e n L u is e , 4 6 _________________________
46
G A L V E S T O N — T o L iv e r p o o l— J u ly 2 6 — Ik b a l, 3 ,6 9 5 — J u ly 29—
A m a z o n e n s e , 1 ,5 4 8 ________________________________________________ 5,243
T o A n tw e r p —-July 24— S k lp to n C a stle, 1 ,1 4 2 ____________________ 1,142
N E W O R L E A N S — T o L iv e r p o o l— J u ly 26— M e c h a n ic ia n , 4 ,5 0 8 ------- 4,508
T o H a m b u r g — J u ly 31— R a p a llo , 1 8 _______________________________
18
T o R o t t e r d a m — J u ly 27— E th e lw o ld , 2 1 __________________________
21
M O B I L E — T o L iv e r p o o l— A u g . 1— L in c a ir n , 1 5 6 ______________________
156
S A V A N N A H — T o H a m b u r g — J u ly 26— A z a le a , 4 0 0 __________________
400
T o G o th e n b u r g — J u ly 26— A z a le a , 200— J u ly 27— C la r e m o n t ,100
300
B O S T O N — T o L iv e r p o o l— J u ly 31— R e p u b lic , 2 2 5 ____________________
225
T o S t. J o h n — J u ly 29— Y a le , 1 1 2 __________________________________
112
B A L T I M O R E — T o L iv e r p o o l— J u ly 26— T e m p le m o r e , 1 4 3 __________
14 3
P H I L A D E L P H I A — T o G la sg o w — J u ly 12—-C arth agin ian , 1 0 0 ______
100
S A N F R A N C IS C O — T o J a p a n — J u ly 25— S iberia, 5 5 __________________
55
S E A T T L E T O J A P A N — J u ly 23— T a n g o M a ra , 5 4 . . __________________
54
T A C O M A T O J A P A N — J u ly 27— T r e m o n t , 1 4 2 . - ______________________
142
NEW

T o t a l ___________________________ ________________________ _________ 18,638

The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
G reat F ren ch G er- — O th .E u rop e— M e x .,
B r ita in ,
p orts, m a n y . N o rth . S ou th. & c. J a p a n .
N e w Y o r k ______2,413
703
211
9 2 ,6 8 3 ____
____
G a lv e s t o n ______ 5,2 4 3 _______
..................... ..
1,142 ......................................
N e w O rle a n s___ 4,5 0 8 ______
..........
18
21 ______ ____
____
M o b i le __________
156 ______
S a v a n n a h ______ ____ _____
400
300 ................................. ..
B o s t o n __________
225 _______
................. ..
112 ____
B a lt i m o r e ______
143 _______
P h i l a d e l p h i a . ..
100 _______
55
S an F r a n c i s c o .. ____ ________)
54
S e a t t le __________ ____ ________
T a c o m a ________
____ ________
142
T o t a l ............... 12,788

703

629

1 472

2 683

112

T ota l.
6,019
6,385
4,547
156
700
337
143
100
55
54
142

251

18,638

The exports to Japan since Sept. 1 have been 222,822 bales
from Pacific ports, 10,000 bales from Galveston and 4,517
bales from New York.
LIVERPOOL.— By cable from Liverpool we have the following statement of the week’s sales, stocks, &c., at that port:
J u lv 12.
Sales o f th e w e e k ............b a l e s .
41.0 0 0
O f w h ic h s p e cu la to rs t o o k . .
1,000
3,000
O f w h ic h e x p o r te r s t o o k ___
SaJes, A m e r ic a n _______________
35.000
A c t u a l e x p o r t __________________
10.000
F o r w a r d e d ______________________
62,0 0 0
T o ta l s t o c k — E s t im a t e d ______1 ,0 6 3 ,0 0 0
O f w h ich A m e r ic a n — E s t ___ 9 2 7 ,0 0 0
T o ta l im p o rt o f th e w e e k ______
4 2 ,0 0 0
O f w h ich A m e r ic a n __________
28,000
A m o u n t a flo a t -------------------. ____
65,000
O f w h ich A m e r ic a n __________
34,000

J u lv 19.
36,0 0 0
1,000
31,000
17,000
59 ,000
1 ,0 2 2 ,0 0 0
8 86 ,000
3 4 ,0 0 0
2 2 ,000
4 0 ,0 0 0
12,000

J u ly 26.
4 3 ,0 0 0
1,0 0 0
1,000
36,000
1 0,000
58,000
967 ,000
8 38 ,000
13,000
6,0 0 0
37,0 0 0
10,000

A u g . 2.
31,000
1,400
600
2 7 ,000
5,000
47 ,0 0 0
9 2 8 ,0 0 0
802 ,000
13,000
6,0 0 0
4 1 ,0 0 0
14,000

The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
Market
12:15
P. M.

Saturday.

M onday.

Quiet.

Fair
business.
doing.

1
J

Tuesday.
Quiet.

W ed’day.

Thursday.

Friday.

Moderate
demand.

Fair
business
doing.

Quiet.

M id .U pl’ds

7.12

7.16

7.20

7.23

7.26

7.28

S a le s _____
Spec.&exp.

2,000
500

8,000
500

6,000
500

7,000
500

7,000
500

5,000
500

Quiet at
1 * @2
pts. dec.

B’ ly s t d y
Futures.
M arket. \ at 2 points
opened
J •decline.
Market
4
P. M.

] Firm at
}■ * @ 1 *
J pts. dec.

Quiet at
4 points
decline.

Steady,
un­
changed.

Steady at V ’y s t'y at Steady at
* pt .dec. fij * @ 2 *
3@ 4*
* Pt. adv. pts. dec.
pts. adv.

Steady at
3 @ 4 pts.
advance.

Quiet at
* point
decline.

Steady at B ’ ly s t'y at
5H Pts. * @ 2 pts.
advance.
pts. dec.

The prices of futures at Liverpool for each day are given
below. Prices are on the basis of uplands, good ordinary
clause, unless otherwise stated.
The p rices are given in p en ce and lOOths.
Sat.
to
A u g . 2.

12*
p .m .

d.
J u l y ____ ______
J u ly -A u g - ______
A u g .-S e p . - - - S e p .-O c t . ______
O c t .-N o v - ______
N o v .- D e c .
D e c .- J a n .
J a n .- F e b
F e b .-M c h .
M c h .-A p r . ______
A p r .-M a y .
M a y -J u n e — -

12 *
p .m .
6
6
6
6
6
6
6
6
6
6
6
6

d
81
78*
66
54 *
49
46 *
45*
44 *
45
46
47
48

M on.

T u e s.

T h u s: 6 81 m eans 6 8 1 -1 0 0 d .
W ed.

T h u rs.

Fri.

4
12*
4
12 *
12*
4
12*
12*i 4
4
p .m .ip .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m . p .m .
d.
81 Vi
78
66
54 *
49
46
45
44
44*
45 u;
46*
47*

d.
86 *
81
69 *
57*
52
49 *
48 Vi
47 *
48
49
50
51

d.
86
7 9 '/,
67 *
55
50
47 y.
46 *
45 *
46
47
48
49

d.
d.
85
86
82
79
70
67
55
57*
4 9 * 52
47
49
46
48
45
47
45* 47*
46* 48*
47 * 4 9 *
4 8 * j5 0 *

d.

d.

d

88
76
63 H
58
53
54
53
53 *
54*
55 *
56*

89
77
64
58*
55 ^
54
53*
54
55
56
57

d.

d.

______

83 *
71 *
;>8 *
53
50
49
48
48 U
49*
50*
51*

90 * '8 8
79
76*
65
62
59 * |56 *
56*153*
5 5 * 52 *
54*151 *
55
52
55 *1 5 3
56*154
57 * i55

A

ug.

3 1907.]

BREADSTUFFS.
Friday, August 2 1907.
Prices for wheat flour have shown more or less depression
on most grades, though some have remained stationary.
The upward tendency of wheat prices and the unfavorable
tenor of the crop news from many sections have failed to
stimulate the market in spite of the fact that stocks here
are less than half as large as they were at this time last year.
The attitude of the trade is still a waiting one. Few care
to buy except to fill immediate requirements. Export trade
has been lifeless. Corn meal and rye flour have been dull
and steady.
Wheat has advanced, mainly owing to persistent if not
fully confirmed reports of black rust at the Northwest, cold
weather there and rising foreign markets. It is a fact, too,
that the Northwestern markets have latterly been advancing,
despite reports from some quarters that no serious damage
has yet been done by rust. Continental markets, moreover,
have been especially firm, owing partly to wet weather in
Germany and hot, dry conditions in Hungary, accompanied
at times by sharp advances at Buda Pesth. Some of the
Russian reports have been unfavorable. At times of late
frost has been feared in the Northwestern section of this
country, temperature falling to'34 and 38 degrees Fahrenheit,
and the receipts of new winter wheat have not been so large'
as expected, though of late they have increased somewhat.
Showers at the Southwest have interfered with threshing.
As to the movement, on a given day of this week the total pri­
m a l receipts were only 983,000bush., against 608,000bush,
on the same day in the previous week and 1,239,000 bush,
last year, which may serve as an illustration of an increase
within a short time and yet of a noteworthy falling off from
the figures of last year. Winter wheat has been held above
exporters’ limits, which is one reason, it is believed, why the
crop is moving so slowly, and certainly there has been no
pressure to sell either spot or “ future” grain. The export
trade, under the circumstances, has been light. Speculation
has apparently come to a pause, although among some there
is still a belief that the crop is sufficiently short both in this
country and in Europe to suggest the possibility at least of
activity in the speculation and higher prices later on. Others
— an i certainly the facts, as near as they can be gathered,
would seem to warrant their contention— hold that the de­
crease in the winter-wheat crop of this country on the one
hand and damage to spring wheat on the other have been
overstated. Meantime the actual situation here is that the
market is firm though quiet. To-day prices advanced on
cold weather at the Northwest, reports of rust, firm cables,
small Argentina shipments, covering of shorts and commission-house buying.
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN NEW YORK.
S a t.
M o n . T u es. W ed . T h urs. F r i .
N o . 2 red w in t e r ..................................... 9 8 %
98%
88%
98%
98%
98%
S e p te m b e r d e liv e r y in e le v a t o r ____ 9 9 %
99 %
99%
98%
99%
99%
D e c e m b e r d e liv e r y in e le v a t o r ____ 1 0 2 % 1 0 2 % 103
1 0 2 % 1 0 2 % 1 03 %
M a y d elK 'ery in e le v a t o r .................... 1 0 6 % 1 0 6 % 1 0 6 % 1 0 5 % 1 0 6 % 1 0 6 %
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN CHICAGO.
S a t. M o n . T u es. W ed . Th urs.
F ri.
S e p te m b e r d e liv e r y in e le v a t o r ____ 9 3 %
92%
92%
91%
92
92%
D e ce m b e r d e liv e ry in e le v a t o r ____ 9 7 %
96
96%
95%
96
98%
M a y d e liv e ry in e le v a t o r .................... 1 0 1 % 1 0 0 % 101
1 0 0 % 1 0 0 % 101 %

Indian corn futures have advanced though the trading has
been on a rather limited scale and there has been an absence
of any very striking developments. There has been a
noticeable disinclination to sell for the short account, how­
ever, owing partly to the fact that the supply of contract
grade at Chicago continues small, and partly because of the
strength of oats. The weather has been favorable in the
main and most of the crop reports show that the crop is
making satisfactory progress. The receipts have been small
and at times there has been a better cash trade. The Liver­
pool market has shown strength. To-day prices advanced
on cold weather, the rise in other cereals, firm cables and
covering of shorts.
D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D C O R N IN
S a t. M o n . T u es. W ed .
C ash c o r n . ................................................. 6 1 %
62
61
60%
S e p te m b e r d e liv e ry in e le v a t o r ____ 6 1 %
62
61 %
62
D e ce m b e r d e liv e ry in e le v a t o r ____ 5 9 %
60
59%
60

NEW YORK.
T h urs.
F ri.
61
61
62%
63
60%
61

D A IL Y

C L O S IN G P R I C E S O F C O R N F U T U R E S IN C H IC A G O .
S a t. M o n . T u es. W ed . T h urs.
F r i.
S e p te m b e r d e liv e ry in e le v a t o r ____ 5 3 %
53%
53%
53%
54 %
54%
D e ce m b e r d e liv e ry in e le v a t o r ____ 50
49%
50
50%
51 %
51%
M a y d e liv e ry in e le v a t o r .................... 5 1 %
51%
51%
51%
52%
53%

Oats for future delivery in the Western market have ad­
vanced, with the trading broad and active. The principal
stimulating factor has been the bullish tenor of the bulk of
the crop reports from nearly all sections. There has been
not a little manipulation in the interest of higher prices, how­
ever. A bull clique headed by James Patten has given active
support at times. These interests are supposed to have
accumulated a “long” line of something like 10,000,000
bushels. Receipts have continued light and the principal
selling has been to secure profits, few caring to take the
“ short” side, owing to the fear of manipulation. To-day
prices advanced on bad crop reports, bullish manipulation
and general buying.
D A I L Y C L O S IN G P R I C E S O F O A T S IN NEW YORK.
S a t.
M on.
T u es.
W ed.
Th urs.
M ix e d , 26
to321bs.
49%
49%
49%
50
50%
W h i t e
c lip p e d ,
39 t o 38
lb s ....
51-53
51 % -5 3
5 1 % -5 3
5 2 % -5 4
53-55




295

THE CHRONICLE.

F r i.
52%

54-56

D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D O A T S IN CHICAGO.
S a t. M o n .
T u es.
W ed . T h urs. F r i .
S e p te m b e r d e liv e r y in e le v a t o r ____ 3 9 %
39%
39%
40%
40% 41%
D e ce m b e r d e liv e r y in e le v a t o r ____ 3 9 %
39%
39%
40%
4 0 % 42
M a y d e liv e ry in e le v a t o r ___________ 41 %
42 %
41 %
42 %
43 % 44 %

The following are closing quotations:
FLOUR.
L o w g r a d e s ______________S3 25 @ $ 3 45 K a n sas s tr a ig h ts _______ $4 4 0 @ $ 4 60
S e c o n d cle a rs___________ 2 90 @ 3 10 K a n sa s cle a rs ___________ 3 3 0 @ 3 60
C l e a r s ___________________ 3 75 @ 4 10 B le n d e d p a t e n t s ________ 5 20 @ 5 90
S tra ig h ts ________________ 4 2 5 @ 4 50 R y e flo u r ________________ 4 6 0 @ 5 20
P a te n t, s p r in g __________ 5 00 @ 5 85 B u ck w h e a t flo u r _______ N o m in a l.
P a te n t, w in te r __________ 4 50 @ 4 85 G ra h am flo u r ___________ N o m in a l.
K an sas p a te n ts ________ ___ @ _____ C o r n m e a l ........ ................... 3 2 5 @ 3 40
G R A IN .
W h e a t , p e r b u s h .—
c.
C o r n , p e r b u s h .—
c.
N . D u lu th , N o . 1 ___________ 1 0 9 %
N o . 2 m ix e d ___________ f . o . b . 61
N . D u lu th , N o . 2 ____ f . o . b . 1 0 6 %
N o . 2 y e llo w , n e w ____ f . o . b . 61
R e d w in te r, N o . 2 ____ f .o . b . 9 8 %
N o . 2 w h ite , n e w ______ f . o . b . 6 1 %
H a rd
“
“
____ f . o . b . 9 9 %
R y e , p e r b u s h .—
N o . 2 W e s t e r n ________
88
O a ts— p e r b u sh e l—
S ta te a n d J e r s e y _______ N o m in a l.
N o . 2 w h it e ____________ 5 3 % @ 5 5
N o . 2 m i x e d ___________
52 %
B a rle y — W e s t e r n ________ N o m in a l.
N o . 2 w h ite , c l i p p e d . .5 4
@ 56
F e e d in g ________________ N o m in a l.

GOVERNMENT W E E K L Y W E A T H E R R E P O R T.—
Mr. James Berry, Chief of the Climate and Crop Division of
the United States Weather Bureau, made public on Tuesday
the telegraphic reports on the weather in the various States
for the week ending July 29, summarizing them as follows:
V e r v h o t w e a th e r p r e v a ile d o v e r th e ce n tr a l a n d eastern p o r t io n s o f th e
S o u th e rn S ta te s d u r in g th e w e e k e n d in g J u ly 29, a n d th e m ea n te m p e r a tu r e
w as n o r m a l o r slig h tly a b o v e on th e M id d le A t la n t ic c o a s t , in t n e W e s t
G u lf S ta te s , o n th e S o u th P a c ific c o a s t , a n d o v e r m o s t o f W a s h in g to n a n d
O re g o n .
T h e w e a th e r w a s u n s e a s o n a b ly c o o l in t h e S ou th ern P la tea u
region a n d U p p e r M issouri V a lle y , a n d s o m e w h a t c o o le r th a n u su a l in th e
L a k e re g io n , U p p e r M ississip p i a n d O h io v a lle y s , a n d N o rth ern N ew E n g ­
la n d .
R a in is b a d ly n e e d e d in T e x a s and O k la h o m a , an d th e n eed o f m o is ­
tu re is b e g in n in g t o b e fe lt in p o r t io n s o f M is s is s ip p i, T e n n es s ee, S ou th ern
I n d ia n a , th e M id d le A t la n t ic S ta te s an d S o u th e rn N e w E n g la n d ; elsew here
east o f th e R o c k y M o u n ta in s th ere is g e n e ra lly a m p le m o is tu r e fo r p r e s e n t
n e e d s . T h e w eek w as c o m p a r a t iv e ly free fro m d e s tr u c tiv e lo ca l sto r m s,
t.he s e v e r e s t 'o c c u r r in g in th e U p p e r O h io V a lle y . T h e re w as con sid e r a b le
clo u d in e s s In th e S o u th A t la n t ic S ta te s a n d L o w e r M issouri V a lle y d u r in g
th e la tte r p a r t o f th e w e e k , and p a r t ly c lo u d y w e a th e r p r e v a ile d o v e r th e
w estern p o r t io n o f th e U p p e r L a k e region d u r in g t h e f o r e p a r t o f t h e w e e k ;
elsew here e a st o f th e R o c k y M o u n ta in s th e sun sh in e w as n o rm a l o r a b o v e ,
b e in g g en era lly e x c e s s iv e in t h e W e s t G u lf d is tric ts .

The statement of the movement of breadstuff's to market as
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since Aug. 1 for each of the last three years have been:
Receipts at—

Flour.

Corn.

Wheat.

R ye.

Barley.

Oats.

bbls.im bs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. bu. 56 lbs.
C h ica g o ____
131,746
299,200
1,490,612
999,000
48,400
1-S.000
M ilw aukee..
36,925
177,000
156,800
63,600
17,100
106,000
D ulu th_____
120,000
99,441
775,279
4,613
84,965
8,993
Minneapolis.
236,290
9,230
56,130
56,700
1,024,340
1,300
44,000
75,500
31,100
D etroit_____
’ 5 ,000
3,940
30,000
39,119
Cleveland___
912
17,471
120,112
51,091
4.000
St. Louis.. . .
1,300
1,045
45,050
419,100
339,200
734,697
1.000
P e o r ia _____
6,000
20,900
21,000
1,950
Kansas City .
1,157,000
76,200
181,000
T o t.w k .’07
Same wk. ’06
Same wk. ’05

341,583
466,317
348,265

4,238,927
8,460,599
7,285,068

2,034,765
2,693,748
4,021,330

2,503,967
2 <31,029
3,207,701

274,441
425,354
523,278

55,668
79,294
87,809

Since Aug. 1
1 9 0 6 -0 7 ... 20,623,179 241,284,928 216,859,770 196,891,512 66,910,044
957,992
1 9 0 5 -0 6 ... 20,454,367 235,628,883 193,335,598 223,915,072 76,079,239 7,708,017
1904-05.... 17,060,868 213,646,796 191,703,881 165,636,347 65,870,686 6,671,652

Total receipts of flour and grain at the seaboard ports for
the week ended July 27 1907 follow:
Receipts atBoston _ . _.............
Portland..................
Baltim ore_______
R ic h m o n d ______
New O rlea n s.a ..
Galveston_______
N orfolk__________
M obile.

Flour,
bbls.
107,635
22,851
643
58,090
40,362
4,350
9,998

Wheat,
bush.
392,300
207,429
96,539
298,106
292,088
47,268

Corn,
bush.
492,350
61,100

Oats,
bush.
320,200
70,895

192,959
420,188
86,520
91,000

93,494
88,628
94,218
91,000

Barley,
bush.
18,500
1,500

Rye,
bush.
975

1,268

36,000
6,333
44,460
2,643

939,126

214,447
24,750

154,680
750

46,609

297,365
258,769

2,308.856
1,940,958

1,583,314
828,650

913,865
977,882

66,609
40,343

2,243
9,069

a Receipts do not include grain passing through New Orleans for foreign ports
on through bills of lading.

Total receipts at ports from Jan. 1 to July 27 compare as
follows for four years:
Receipts of—
1907.
F lo u r ..................................b bls. 10,911,059

1906.
9,049,736

W heat...............................bush. 49,994,251
C orn_________________________ _66,449,078
O ats_________________________ _31,749,778
Barley ........................................ 2,972,350
R y e ............................................... 1,254,588

42,545,785
70,481,713
45,131,408
7,461,879
845,015

Total grain.............................152,420,045

166,465,800

1905.
5,795,567

1904.
10,517,745

14,318,446
65,323,059
26,901.343
4,246,835
201,915

25,600,407
34.009,361
24,597,309
1,686,503
519,253

110,991,598

86,412,893

The exports from the several seaboard ports for the week
ending July 27 1907 are shown in the annexed statement:
Flour,
bbls.
43,336
26,064
643
41,903
29,362
3,033
5,232
6,333
74,680
2,643

319,000
>50

Total w e e k .. ..2,144,723 1,678,966 233,229
Week 1906
603,674 126,336
866,296

373,631
91,605

Exports Irom-—
New Y o rk .........
B o s t o n ____
Portland
Philadelphia . . . .
Baltim ore......... . .
New Orleans . _
G alveston.........
N orfolk..............
M o n tre a l.........
M obile_________

Wheal,
bush.
440,441
491,104
96 439
159,734
40,000

Corn,
bush.
659,089
25,714

__

156,529
591,773
9,504
27,930

916", 905

183,677
24,750

Odls,
bush.
48,658

__

Rye, Barley,
bush.
bush.
8,698
_____

Peas,
bush.
1,812

54
5,169
18,203
8,698
_____

..........
65.873

20,015
7,010

296

THE CHRONICLE.

[V o l . l x x x v .

it is difficult to purchase the former for any delivery this
side of October. Medium and light-weight sheetings have
---------- FI OUT---------- -----W
heat---------- ------------- Ct trn------ sold fairly well and in some cases agents are holding out for
Since
Since s!ightiy advanced prices.
Since
Seveial lines of low-count bleached
Week
July 1
Week
July 1
Week
July 1
goods have bet n placed upon a higher level during th^ week
Exports ! o j week and July 27.
1907.
1907. July 27.
1907. July 27.
since July 1 to—
bush.
bush.
bush.
bbls.
bush.
bush. but b', yers have not hesitated to pay full asking prices when in
United Kingdom. .136,453
338,56S 1,935,986 4,528,101
493,028 1,492,887
Con tinent- _____ - 33,239
201,894
103,222 1,167,490 1,113,406 4 409,496 need of goods and some air forward orders have been placed
So. & Cent. Am er, _- 6,614
54,911
2,454
37,952
13,015
39.640
Wide sheetirgs have been marked up and t ie demand for
West Tndles______ - 23,725
107,070
2,500
3,700
68,822
217,748
these and for sheets and pi low cases is good. Manufactureis
Brit. N o. A m . Cols.
75
416
3,239
Other cou n tries___ . 33,123
87,859
17,720
1,256
3,032
of denims, plaids and other coarse, colored cotton goods
.......
have becomo firmer in their views and are unwilling to con­
T ota l___________ .233,229
796,541 2,144,723 5,756,651 1,678,966 6,161,531
Total 1906 _______ .126.336
866,296 2,870,250
603,674 2,891,614
597,173
tract very far ahead until the raw material situation is more
The visible supply of grain, comprising the stocks in gran- settled; buyers are willing to place forward orders at c irrent
ary at the principal points of accumulation at lake and sea- prices. Linings have moved freely at the advances :e x n "ly
recorded. The demand for napped goods has exceeded exboard ports July 27 1907, was as follows:
Wheat,
Corn,
Harley, pecta’ ions and it is dii'ficrl to secure anything like near-by
Rye,
Oats,
Printed fabrics have bsen in gcoi request and
bush.
bush.
bash.
bush. deliveries.
bush.
New Y ork....... ................. 1,080,000
972.000
636.000
231,000
11,000
the ma ket is very firm. Advances are expected in ging­
afloat........... ..
.......
hams; fine dress goods have continued to sell well. Printeis
347)66
B o s t o n _____ __________
2.52,000
220.000
P h iladelphia__________
590,000
487.000
101.000
are in some casss forced to purchase print cloths from second
303,000
121,000
Baltim ore_____________
1,582,000
1,000
hands, the mills having all the orders that they can take
New O rleans__________
35,000
114.000
112,000
Galveston_____________
549,000
27,000
care of; forward orders well into next year are being freely
M o n tre a l_____________
533,000
71.000
113.000
’ 6,000
53,000
placed and prices are at the highest .
T o r o n t o .............................................
4,000
B u ffa lo________________2,716,000
1 ,193,606
597,000
122",000
54,066
W O O L E N . GOODS.— A large number of men’s wear
afloat..................................
woolen and worsted goods buyers has been in town during
T o l e d o ________________
323,000
249.666
63.000
" ¥,066
______
afloat_______
the week and buying has been on a more active scale, but
D e t r o i t . . ........... .............
332,000
37.000
12.666
278',000
still has hardly been satisfactory to sellers. The light­
afloat_______
______
Chicago_______ ________ 8,909,000
442.666
13,000
908',666
211.666
weight market has continued very irregular in character
“
afloat_______
______
and from the actions of buyers it would seem that they are
63",000
’ 4 ,000
M ilwaukee......................
248,000
151",000
"4,666
afloat_______
______
far from being sure of their ground and are eliminating their
F ort W illia m ................. 2,567,000
own risk as far as possible and transferring this to the seller,
Port Arthur___________ 4,179,000
D u lu th ________________3,ol9,000
19,000
154,000
233,000
by asking for cuts rather than placing orders for sample
afloat_______
______
pieces. Sales of low-grade woolens continue to show gains
M inneapolis___________ 13,348,000
25,000
85.000
48,000
228,666
St. Louis_______________ 1,731,000
12.000
148.000
76.000
1,000
compared with the past few seasons, but worsteds still hold
“
afloat_______
______
th popular fancy. Cass!meres have sold well and the outlook
Kansas C ity___________ 2,616,000
297’ 666
23,006
5,000
173.000
Peoria_________________
7,000
3,000
for these is bright. W hile the buying of some lines has been
Indianapolis___________ • 141,000
220.000
35.000
quite satisfactory to sellers, others have been practically
On Mississippi R iver___
______
neglected and these are being withdrawn from the market
i ,0oY,666
71.000
On L a k es_____________ 2,135,000
On Canal and R iver___
618,000
82.000
191,000
210,000
to make room for more which it is hoped will prove popular.
High-grade worsteds have been generally opened and a satis­
539.000
Total Julv 27 1907..46,829,000
7.968.000
3.559.000
639.000
Total July 20 1907..46,630,000
8.999.000
4.651.000
756.000
674.000
factory volume of ordeis has been booked. Dress goods
Total July 28 1906.-28,381,000
5.215.000
5.043.000 1,364,000 1.098.000
have been more active and, while spring orders are lagging
4.898.000
716.000
Total July 29 1905..13,354,000
5.311.000
757.000
868.000 1.054.000 somewhat, the total business placed has been satisfactory.
Total July 30 190 4 .. 13,093,000
5,K4t»,000
2.681.000
348.000
Total A ug. 1 1903.-13,415,000
6.990.000
6,485,000
658,000
FOREIGN D R Y GOODS.— Imported woolen and worsted
dress goods are quiet. Silks have not been active but
ribbons have sold fairly well. Linens continue very strong
TH E DRY GOODS TRADE.
and consrderable apprehension has been caused by the strike
of dock laborers at Belfast. Burlaps are easier and diffi­
New York, Friday Night, August 2 1907.
cult of sale.
Trading in the primary cotton goods market has con­
tinued on a steady scale during the past week and a good Importations and Warehouse Withdrawals of Dry Goods.
healthy movement has been generally reported. In some
The importations and warehouse withdrawals of dry goods
instances large ordeis for future delivery have been placed, at this port for the week ending July 27 1907 and since
and spot or near-by supplies, where available, have been Jan. 1 1907, and for the corresponding periods of last year,
eagerly purchased at top values. The course of prices has are as follows:
been upwaids and advances have occurred in several lines
with intimations that others are pending. Manufacturer,
however, are proceeding cautiously in this matter, fearing
to check the cons mptive demand by any radical action,
although they claim that the situation warrants a still
higher level. Buyeis, on the other hand, are equally careful
in their purchases and there is a disposition to load up with
goods at the pres nt time, when the margin of profit is so
small. The jobbing trade has again been quite active,
having been affected to some extent by the arrival of the
advance guard of We stern and Southern buyeis on the
annual excursions. The business consummated by jobbers
during the month of July is reported to have been the largest
in recent years and the outlook is for a fairly heavy month
of August. The taw material situation has not been a great
factor in the maiket but the various estimates issued of the
condition of the growing crop have been followed with inter­
est, particulaTly by manufacturers of heavy goods. Export
trade has been very quiet and there has been no renewal of
bus’ness to China. The whole Chinese situation -is being
very clos?’y watched, however, and a buying movement
later in the year is confidently looked forward to. There
h.. * been rather more activity in the woolen and worsted
goods market, dress goods particularly being in better
demand.
The destination of these exports for the week and
July 1 1907 is as below:

IM P O R T S
ENTERED
FOR
FOR

3 4 5 ,1 8 6

W IT H D R A W A L S

3 ,3 3 3 ,3 0 6

C O N S U M P T IO N
WEEK
AND
JAN .
1907
1

M A R K E T.

2 , 5 2 0 .9 3 0

S IN C E

THE

1 1 ,6 4 4

UPON

8 8 , 4 9 6 ,0 9 4

THROW N

TH E
AND
1900.

7 5 ,7 3 3 ,8 1 7

W AREH OU SE

.......... - ......................... . 1 4 ,3 3 8

Week E n d in g
July 28 1 9 0 0 . Since Jan. 1 1 9 0 6 .
Pkgs.
Value.
Pkgs.
V a lu e. _________

3 0 5 ,9 2 5

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

Since Jan. 1 1 9 0 7 .
Pkgs.
V alue.

8 ,6 10
1 5 ,7 8 0
6 ,754
10 ,4 1 9
1 6 1 ,5 3 3

9 1 ,1 0 5 ,4 9 4

1 5 ,3 7 1 ,6 7 7
7 5 ,7 3 3 ,8 1 7

Week Ending
Julv 27 1 9 0 7 .
I ’ kgs.
Value.

2 0 3 ,1 0 2
3 0 5 ,9 2 5

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

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

5 0 9 ,0 2 7

$
$
$
4 8 6 ,5 8 7 2 9 ,6 1 2
8 ,7 1 4 , 4 0 7
1 ,14 8
3 5 9 ,8 7 9
2 7 ,0 1 8
1 ,1 6 9 ,9 4 0 9 5 ,0 8 6
3 0 ,3 4 4 ,1 0 1
2 ,9 4 9
0 3 4 ,8 0 6
8 7 ,9 5 1
1 ,7 4 5
5 5 5 ,8 9 9 5 3 ,5 4 1
2 8 ,2 6 7 ,9 5 9 1,490
6 2 3 ,4 3 3
4 2 ,4 2 2
1 ,7 37
7 9 9 ,3 7 4 5 5 ,6 1 6
1 2 ,6 6 9 ,0 3 6 1 ,889
3 4 5 ,6 3 9 5 6 ,6 0 1
5 ,6 9 2
3 2 1 ,5 0 6 1 1 1 ,3 3 1
8 ,5 0 0 ,5 9 1 4 ,1 6 8
2 5 7 ,1 7 3 9 1 ,9 3 3

M a n u fa ctu re s
o f—
W o o l . . . .....
334
1 0 0 ,6 6 0
9 ,3 7 6
2 , 9 4 8 ,7 1 7
254
C o t t o n . . . .. ............................
860
2 4 5 ,6 4 7
1 9 ,8 6 4
6 , 3 1 8 ,3 0 2
C.19
S i l k ................ ............................ ............................
444
1 1 3 ,5 3 2 6,858
3 ,7 4 0 , 6 9 6 207
• F l a x ..............
171
7 9 ,1 9 3 1 3 ,4 3 9
3 , 3 0 6 ,2 6 0
348
M is c e lla n e o u s
...................
1 ,5 8 1
2 4 ,8 7 0 8 0 ,9 8 2
2 ,1 5 5 ,2 0 8 5 ,2 3 7

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

M a n u fa ctu re s o f —
W o o l .............
1 ,5 8 7
C o t t o n ...........
3 ,5 7 7
S i l k ................ ............................
F l a x ................ ............................ ............................
M i s c e l l a n e o u s ____________ ________________

6 ,6 6 5
1 1 ,6 4 4

T o ta l

1 8 ,4 6 9 ,1 8 3
8 8 ,4 9 6 ,0 9 4

P E R IO D .

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

SA M E

1 1 ,3 3 9
1 5 ,9 9 5
6 ,8 5 3
1 1 ,2 6 9
1 2 1 ,1 2 2

9 2 ,3 9 7 ,9 1 1

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

w i t h d r a w a l s _____
3 ,3 9 0
5 6 3 ,9 0 2 1 3 0 ,5 1 9
for c o n s u m p t i o n . .1 4 ,3 3 8
3 .3 3 3 ,3 0 6
3 4 5 ,1 8 6

T ota l
E n tered

D U R IN G

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

3 ,0 4 1 ,2 0 8

O U SE

4 7 2 ,5 0 3

1 8 ,3 0 9

EH

3 , 2 8 7 ,5 3 3

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

1 0 6 ,9 6 5 ,2 7 7

FOR AVAR

3 , 8 9 7 .2 0 8

ENTERED

2 ,3 7 8
11 ,6 4 4

4 7 5 ,7 0 5

IM P O R T S

m a r k e t e d - ............. . . 1 7 , 7 2 8

1 4 ,0 2 2




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

181 ,806

1 1 0 ,4 0 1 ,9 5 9

12,936

T o ta l

4 6 9 ,3 4 3

1 1 6 ,3 4 9

The value of these New York exports since Jan. 1 has been
$6,576,734 in 1907, against $10,297,959 in 1906.
Heavy brown drills and sheetings have been firmly held at
recent top prices and a moderate trade has been effected;

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

4 , 2 3 4 ,8 3 5

801
963
74,2 3 7
(>,684
27,9 4 4
5,634
13,892
1,3 2 0
9,258
30,883
10,190

.......... ............................
c o n s u m p t i o n . - 1 4 ,3 3 8

Since
Jan . 1

for

i m p o r t s - ................... 1 8 ,6 8 0

Week.

T o t a l ..................... ..........................................4 ,4 2 3

Since
Jan. 1.

---------190 6---------

G rea t B rita in _________________
_______
20
1,1 2 9
14
O th e r E u r o p e ______________________________
2
824
5
C h in a _____________________ _________________ 1,190
14,3 9 9
6,1 2 2
I n d i a ................... ...................................................
35 ,1 1 9
__________
A r a b ia .............................................................. . . . 1 , 4 0 4
22,471
3 ,8 8 9
A f r i c a _______ __________ _______ _________________
3,6 7 3
315
W est I n d i e s _______________________________ 573
13,4 1 3
878
M e x i c o ____________________________________
17
1,417
72
C en tral A m e r ic a . ................. ....... .............. ..
74
8 ,6 1 0
312
S o u th A m e r ic a _________________________ 387
2 7 ,2 1 7
861
O th er c o u n t r i e s --------------------------- -------------- 753
1 8 ,077
468

W eek.

M a n u fa c tu r e s
o f—
W o o l . . . ..... ............................
455
1 4 1 ,1 9 8
9 ,6 6 8
3 ,9 8 1 , 1 0 3
646
1 9 5 ,7 5 2
C o t t o n ........... ............................
957
3 4 4 ,5 5 2 2 0 ,8 6 4
6 ,9 3 9 , 7 5 3 810
2 8 5 ,4 7 6
S i l k _________________________
749
1 9 3 ,1 0 9 7 ,838
4 ,1 5 5 ,2 8 0
294
1 3 7 ,2 7 0
F l a x ................ ............................ ............................
299
1 3 9 ,9 7 5 1 5 ,2 4 9
4 , 0 8 5 .7 8 5 388
9 2 ,2 8 8
M i s c e l l a n e o u s .....................
1 ,8 8 2
8 2 ,6 9 5 7 0 ,5 3 8
• 2 ,7 4 3 ,9 4 4
240
5 5 ,8 1 7

T o ta l

---------1 90 7---------

New York to July 27.

T o ta l
E n tered

DOMESTIC COTTON GOODS.— The exports of cotton
goods from this port for the week ending July 27 were 4,423
packages, valued at $284,547, their destination being to the
points specified in the table below:

S tate

C

and

it y

PUBLISHED WEEKLY.
T e r m s o f S u b s c r ip t io n — P a y a b le in A d v a n c e
F o r O ne Y e a r ............................... .......................................... ............................... $ 1 0 00
T o r S ix M o n t h s ..........................................................................................................
(> 00
E u ro p e a n S u b s cr ip tio n (in c lu d in g p o s t a g e ).................................................. 11! 00
E u ro p e a n S u b s cr ip tio n s ix m on th s (in c lu d in g p o s t a g e ..........................
7 50
.A nim al S u b s cr ip tio n in L ou don (in c lu d in g p s t a g e )............................... £ 2 1 4 s .
S ix M o n th s S u b s crip tio n in L o n d o n (In clu d in g p c s t a g e )........................ £ 1 3 1s.
C a n a d ia n S u b s cr ip tio n (in c lu d in g p o s t a g e ) ..................................................$11 50
(Nnbicrrpti-on n ich m ex lo llo w in q S ection s —
R a n k a n d Q t o t a n o x (m o n th ly )
1 St a t e a n d C it y (sem i an n u ally)
UAI1.WAY AXU 1NDUsi HiAi. i,qu arterly) | .vntKKT K a i l h a y (3 tu n es y e a rly )
T h e RAILWAY a x d I n d u s t r i a l S e ctio n , issnr d q u a rte rly , is fu rn ish ed
w i t 'o u t e x t ia c h a rg e to e v e r y itunual s u b s c r ib e r o f th e COMMERCIAL a n d
FINANCIAL C h h o n ic le .
T h e STATE a n d CITY S e ctio n , issu ed sem i-an n u ally, is also fu rn ish e d
■without ex tra c/.arge to e v e r • su ,s e r io e r «>f th e c h r o n i c l e .
T h e S t k e e t R a i l w a y S .c t i o n , .turned th r e e tim e s a y e a r, is lik e w is e f u r ­
n ished w ith ou t e x tra ch a rge lo e v e i y s u b s c r ib e r o i th e C h r o n ic l e .
T h e B a n k a n d q u o t a t i o n S e c tio n , is su e d m o n th ly , is also lu r n is h e d w ith ­
o u t ex tra ch a rge to e v e r y s u b s c r ib e r o i th e C h r o n ic l e .
T erm s

ol

297

THE CHRONICLE.

A u g . 3 1907.]

A d v e r tis in g — P e r

In ch

S p a ce

T r a n sie n t m atter p e r in ch s p a c e (14 a g ate lin e s }......................................... $4 20
T w o M o n th s
(8 t im e s )................................ 22 00
T h r e e M o n th s (18 t im e s )................................ 20 00

d u ly ce rtifie d u n d er th e seal o f said b o a r d , a c c e p tin g said b o n d s a n d c o u ­
p o n s in fu ll s e ttle m e n t o f all cla im s an d d e m a n d s w h a tso e v e r a g a in st th e
S ta te , and th a t said b o n d s an d th e p r o c e e d s th e r e o f shall b y said b o a r d o f
tru stees, a n d th eir su ccessors, be fa ith fu lly a p p lie d t o th e m a in te n a n c e o f
said U n iv e rs ity , as in te n d e d b y th e o rig in a l g ra n t o f C on gress.
B O N D S — S IG N IN G A N D D E L I V E R Y .
S E C T IO N 2.
O n th e ta k in g e ffe c t o f this A c t , th e b o n d s an d c o u p o n s
p r o v id e d fo r in s e ctio n o n e (1) o f th is A c t shall b e p r e p a r e d b y th e A u d it o r
o f S ta te , and said b o n d s shall b e signed o n th e p a rt o f th e S ta te b y th e
G o v e rn o r an d S e cre ta ry o f S ta te , and a tte s te d b y th e seal o f th e S tate, an d
said c o u p o n s shall b e signed b y th e S e cre ta ry o f S ta te , an d d e liv ered t o th e
T reasu rer o f th e said b o a r d o f tru stees o n th e filin g in th e o ffic e of said
A u d it o r o f said r e so lu tio n d u ly c e rtifie d , as h e re in b e fo re p r o v id e d , an d
said re so lu tio n and a c c e p ta n c e o f said b o n d s shall b e an d c o n s titu te a full
an d final se ttle m e n t o f said cla im and o f all d e m a n d s o f said b oa rd o f tr u s­
tees a g ain st the S ta te o f I n d ia n a , an d shall fo r e v e r b in d said tru stees an d
th eir successors in o ffic e .

New York City.— Charter Revision Board named by Gov­
ernor.— On July 24 Governor Hughes appointed the follow­
ing as members of the Charter Revision Commission to
inquire into the local government of the city and suggest
legislation: Ex-Mayor Seth Low, Ex-Comptroller Edward M.
Grout, William M. Ivins, Edward B. Whitney, William N.
Cohen and Thomas M. Mulry, with James C. Meyers as the
aldermanic member. The Mayor and the City Comptroller
are ex-officio members of the commission.
Greater New York Charter A mendment Relative to the Sale of
Stock and Bonds.— The Governor on July 30 signed the amendment to the Greater New York Charter giving authority
to the City Comptroller to sell at private sale at not less than
par any portion of the stock and bonds remaining unsold
after a public sale. See V. 85, p. 236.

i

B o n d C a lls a n d R e d e m p t io n s .
S ix M on th s
(2(3 t im e s )................................ 50 00
T w e lv e M o n th s (52 t im e s )................................ 87 00
C H I C A G O O F F I C E — P lin y B a rtle tt. 513 M o n a d n o ck B lo ck .
L O N D O N O F F I C E —E d w a rd s & S m ith , 1 D ra p e r s ’ G ard en s, E . C.

W I L L I A M B . D A N A C O M P A N Y , P u b lis h e r s ,
P in o S treet, C orn er ot P earl S treet,
P ost Office B o x 9 5 8 .

NEW Y O R K .

N e w s Ite m s .
Connecticut.— Legislature Adjourns.— The Legislature of
this State adjourned Aug. 1. According to local papers
this is the longest session ever held in this State.
Hancock County (P. O. Carthage), 111.— Bonds Offered by
Bankers.— Devitt, Tremble & Co. of Chicago are offering for
sale the $125,000 5 % 1-10-year (serial) coupon court-house
bonds awarded to them on June 7. See V. 84, p. 1443.
Particulars regarding the issue will be found in the advertise­
ment on another page.
Indiana.— Judgment Bonds Authorized by Legislature.—
The Legislature on March 9 passed an Act (Chapter 244,
Laws of 1907) over the Governor’s veto, providing for the
issuance of $120,548 3 % 10-year bonds to be delivered to
the Board of Trustees of the Vincennes University in full
settlement of all claims and demands made by that board.
The Act in full is as follows:
PREAM BLE.
W h erea s, b y th e A c t o f C on g ress, M arch 20 1804, o n e to w n sh ip o f la n d ,
c o m p o s in g tw e n ty -th r e e th o u s a n d a n d fo r t y (23,040) acres In th e V in ce n n e s
a n d d is tric t, w as set ap a rt fo r a sem in ary o f learn in g In th a t d is tric t; and
W h erea s, th e le g isla tive co u n cil an d h ouse o f r e p re se n ta tiv e s o f th e T e r r i­
to r y o f I n d ia n a , b y a n A c t p assed N o v e m b e r 29 1806, su p p le m e n te d b y an
a c t passed S e p te m b e r 17 1807, esta b lish e d an d in c o rp o ra te d “ T h e b o a rd o f
tru stees fo r th e V in ce n n e s u n iv e r s it y ,” t o ta k e and h old said la n d fo r th e
use and m a in te n a n ce o f V in ce n n e s U n iv e rs ity : and
W h erea t, th e S ta te o f In d ia n a , b y and p u rsu an t t o ce rta in A c t s o f Its
leg islatu re In 1820, and s u b s e q u e n tly , to o k n ineteen th o u sa n d an d f o r t y
(1 9 ,0 4 0 ) acres o f said lan d s a w a y fro m said b o a r d o f tru stees a n d assu m ed
c o n tr o l and p ossession th e r e o f, and a p p ro p ria te d said lan d s t o Its o w n use
a n d sold th e sam e an d used th e p r o c e e d s th e re o f; and
W h erea s, th e A c t s o f said legislature an d o f said S ta te in so a p p ro p r ia tin g
said la n d s, and th e c o n d u c t o f th e S tate in a ssu m in g c o n tr o l t h e r e o f and
a p p ro p r ia tin g th e p r o c e e d s o f th e sale o f said la n d s, w as held b y th e S u p re m e
C o u rt o f th e U n ited S tates t o have been w ron gfu l an d Illegal; and
W h erea s, T h e S e cre ta ry . A u d it o r an d T reasu rer o f th e S ta te o f I n d ia n a ,
a m a jo r ity o f th e c o m m is s io n a p p o in te d b y th e general a s s e m b ly o f 190.1,
" t o m ake full an d c a rcfu l in v e s tig a tio n o f said cla im an d all m a tters c o n ­
n ected th ere w ith an d ascertain w h at a m o u n t o f m o n e y , if a n y , w o u ld
fa irly c o m p e n s a te said U n iv e rs ity fo r th e d a m a g e s a n d losses sustain ed b y
I t, g r o w in g o u t o f th e A c t s o f th e S ta te and its a gen ts re g a rd in g said lands,
and a fte r a u d itin g the sam e be tw e e n th e S tate an d U n iv e rs ity on ju s t and
e q u ita b le g ro u n d s , r e p o r t th eir lin d in g and r e c o m m e n d a tio n t o th e n e x t
general a s s e m b ly ,” an d said S e c r e ta r y , T reasu rer and A u d it o r o f S ta te did
m ak e r e p o rt t o th e last general asse m b ly o f such In v e s tig a tio n , and In
c o n c lu d in g th e ir r e p o r t, th e ir lin d in g and re c o m m e n d a tio n s w ere as fo llo w s :
‘ ‘ A ft e r a full co n s id e r a tio n o f th is ca se and In v ie w o f all th e fa c ts , w e are
c o n v in c e d th a t th is U n iv e rs ity has su stain ed losses and d a m a g e s b e y o n d
a n y rep a ra tio n th a t has been m a d e b y th e S ta te .
W e th e re fo re re c o m m e n d
th a t th e sum o f o n e hu n dred an d tw e n ty th o u s a n d , liv e h u n d red an d f o r t y eigh t ($120,548) d olla rs b e a p p ro p ria te d to V in ce n n e s U n iv e rs ity as a ju s t
a n d e q u ita b le se ttle m e n t o f this m a t t e r .”
A n d o w in g t o th e lateness In
th e session , w hen said re p o r t w as s u b m itte d , th e last general asse m b lv
re c o m m e n d e d th a t a c tio n th e re o n b e p o s tp o n e d t o th e p resen t general
a ss e m b ly ; and
W h erea s, T h e S ta te o f In d ia n a has n o t ren d ered t o said b o a rd o f tru stees
a d e q u a te c o m p e n s a tio n fo r said la n d s and th e losses th e r e b y su sta in e d , an d
th ere is e q u ita b ly and ju s tly d u e t o said b o a rd o f tru ste e s b y re a so n t h e r e o f
said sum so fo u n d d u e b y said s ta te o ffic e r s , a m o u n tin g t o o n e h u n d re d
t w e n ty th o u s a n d , fiv e h u n d red and fo r t y -e ig h t (512 0 ,5 4 8 ) d o lla rs , w h ich
su m , In b o n d s o f th e S ta te , w ith in terest c o u p o n s , th e said b o a r d o f tru stees
w ill a c c e p t in fu ll se ttle m e n t an d p a y m e n t o f said c la im an d all d e m a n d s
a gain st th e S ta te ; T h e re fo re ,
V IN C E N N E S U N IV E R S IT Y — B O N D ISSU E F O R .
S E C T IO N 1. B e it enacted by the general assem bly o f the State o f In d ia n a .
T h a t o n e hun dred and tw e n ty (120) b o n d s , ea ch in th e su m o f o n e th o u s a n d
(1 ,0 0 0 ) d olla rs, an d o n e b o n d fo r liv e h u n d re d and fo r ty -e ig h t (548) d o lla rs ,
b e Issued b y th e S ta te o f In d ia n a , p a y a b le t o “ T h e b o a rd o f tru stees fo r
th e V in ce n n e s U n iv e r s it y ,” o r b e a re r, at th e b a n k o f W in s lo w , L a n ie r &
C o m p a n y , o f N ew Y o r k C it y , in th e S ta te o f N ew Y o r k , ten y e a rs a fte r the
d a te th e r e o f, an d th a t said b o n d s b e a r th ree p er ce n tu m Interest p e r an n m u
fro m d a te , p a y a b le s e m i-a n n u a lly , in e qu a l in sta llm e n ts, a n d th a t c o u p o n s
fo r said several in stallm en ts o f in terest be issu ed, a tta c h e d t o said p r in cip a l
b o n d s , be^lrlng th e sam e d a te th e r e o f, and fa llin g d u e at th e ’ ate said
several Installm ents o f Interest m a tu re , and fo r th e p a y m e n t o f said b o n d s
and c o u p o n s th e faith o f th e S tate Is irr e v o c a b ly p le d g e d ; P ro v id ed , T h a t
a t th e tim e o f Issuing said b o n d s “ T h e b o a rd o f trustees t o r th e V in c e n n e s
U n iv e r s it y ” shall file w ith th e A u d ito r o f S ta te a r e so lu tio n o f said b o a i d ,




Chicago, 111.— Special Assessment Bonds Call.— Walter H .
Wilson, City Comptroller, on July 24 called for payment
numerous issues of assessment bonds. The list of bonds call­
ed is a very lengthy one and was published in the “ Chicago
Daily Journal” on July 24.
Schuyler County (P. O. Lancaster) ,Mo.— Bond Call.—
Call is made for payment Sept. 1 at the Merchants’ Laclede
National Bank of St. Louis of railroad-refunding bonds Nos.
61 to 77 inclusive. Denomination $1,000.
Shreveport, Caddo Parish, La.— Bonds Redeemed.— This
city has purchased for redemption $40,000 5 % paving bonds
issued in 1899.

B o n d P r o p o s a ls a n d N e g o tia tio n s

t liis

week

feave been as follews:
Adams County (P. 0 . Decatur), Ind.— Bond Sale.— Of
seven issues of 4 ^ % road bonds, aggregating $41,060,
offered on July 16, $29,980 were awarded to the First
National Bank of Decatur for $31,801 (106.074) and $11,080
were awarded to the Old Adams County Bank of Decatur for
$11,086 74— or 100.06. Interest May and November.
Asbury Park, Monmouth County, N. J.— Bonds Not Yet
Sold.— No sale has yet been made of the $25,000 43^%
35-year sewer bonds offered but not sold on June 24. See
V. 84, p. 1563.
Ashtabula,[Ashtabula County, Ohio.— Bond Sale.— On July
29 the four issues of 5% coupon paving bonds aggregating
$48,920, described in V. 85, p. 113, were awarded to the
Farmer’s National Bank of Ashtabula for $50,043 37— the
price thus being 102.296. A bid was also received from the
National Bank of Ashtabula for $49,602 60. Securities are
dated April 1 1907.
Baldwin Township School District, Allegheny County,
Pa.— Bond Sale.— Dispatches state that this district recently
disposed of $60,000 4 V i% 30-year bonds at private sale.
Baltimore, Md.— Sale of Sewer Stock.— This city recently
awarded.$20,500 3 ^ % registered sewer stock to local parties
at 95.50 and accrued interest. Denomination $100 and
multiples thereof. Date July 25 1907. Interest April and
October. Maturity April 1 1980.
Banning School District, Riverside County, Cal.— Bond
Offering.— Proposals will be received until 11 a. m. Aug. 5
by A. B. Pilch, Clerk of Board of County Supervisors (P. O.
Riverside), for $24,000 5 % school bonds. Denomination
$500. Interest annual. Maturity $1,000 yearly beginring
three years from date of bonds. Certified check for 10%
of bonds bid for is required. Bonded debt at present $2,500.
Assessed valuation $564,674.
Bay City, Bay County, Mich.— Bonds Not Sold.— No bids
were received on July 29 for the $150,000 4 % local-improvement bonds described in V. 85, p. 237.
Bayonne, Hudson County, N. J.— Bond Offering.— Propasals will be received until 8 p. m. Aug. 6 by the City
Council for $146,000 5 % gold coupon tax bonds dated July 1
1907. Interest semi-annual. Maturity $36,500 on July I
in each of the years 1910, 1911, 1912 and 1913. W . C.
Hamilton is City Clerk and Chas. E. Annett is City Comp­
troller.
Belhaven, Beaufort County, No. Car.— Bond Offering.—
Proposals will be received at any time by R. W . Lucas,
Secretary af the School Board, for $15,000 6 % . coupon
graded-school-building bonds. Denomination $500. Date
July 1 1907. Interest annually in Belhaven. Maturity
i July I 1927.
Assessed valuation for 1907 $600,000. These
[
I bonds were offered without success on July 1 (V. 85, p. 52)
' as 5s.
• ........................................

298

THE CHRONICLE.

Benton, Franklin County, 111.— Bond Sale.— This place on
July 16 awarded at private sale an issue of $16,500 5 % sewer
bonds to the Little & Hays Investment Co. of St. Louis.
Denomination $500. Date July 1 1907. Interest semi­
annual. Maturity $1,500 on July 1 1912, $2,000 on July 1
1917, $5,000 on July 1 1922 and $8,000 on July 1 1927.
Bessemer, Jefferson Comity, Ala.— Bond Election.— On
July 23 the City Council passed ordinances providing for an
election Sept. 9 to submit to the voters the question of issu­
ing $50,000 school, $25,000 Second Avenue storm-sewer
construction and $7,500 fire-department bonds.
Blasdell, Erie County, N. Y .— Bond Sale.— On July 22 an
issue of $3,750 5 % village-hall and fire-house bonds was
awarded to William D. Lawton for $3,775, the price thus
being 100.666.
Bloomington, Franklin County, Neb.— Bonds Not Sold
No sale was made on July 1 of the $14,000 5 % 5-20-year
(optional) registered water-works bonds described in V. 84,
p. 1501.
Boston, Mass.— Bond Sale.— This city has awarded $4,200
4 % Boston Tunnel & Subway bonds to various trust funds
at par. Maturity July 1 1947.
Brainerd, Crow Wing County, Minn.— Bond Offering.—
Further details are at hand relative to the offering on Aug. 19
of the $39,000 5% coupon funding bonds mentioned in V. 85,
p. 237. Proposals will be received until 8 p. m. on that day
by the City Council at the City Clerk’s office. Authority
Chapter 62, General Laws of 1907. Denomination $500.
Date Aug. 15 1907. Interest semi-annually at the City
Treasurer’s office. Maturity $2,000 yearly on Aug. 15 from
1908 to 1916 inclusive and $21,000 on Aug. 15 1917. Bonds
are tax exempt , Certified cehck for 5% of bonds bid for,
payable to the “ City of Brainerd” , is required. H . J. Spen­
cer is City Clerk.
Briarcliff Manor, Westchester County, N. Y .— Bond Offer­
ing.— Proposals will be received until 4 p. m. Aug. 7 by Wil­
liam H. Coleman, Village Clerk, for $25,000 5 % coupon
(with privilege of registration) bonds. These securities are
part of an issue of $75,000 bonds authorized by Chapter, 21,
General Laws of 1897, and election held July 30 1906. De­
nomination $1,000. Date Aug. 1 1906. Interest semi­
annually in New York exchange, if registered. Maturity
$1,000 on Aug. 1 1927 and $3,000 yearly on Aug.| 1 from
1928 to 1935 inclusive. Certified check for 5 % of bonds
bid for, payable to the “ Village of Briarcliff Manor,” is re­
quired.
Bridgeport, Belmont County, Ohio.— Bond Sale.— On
July 29 the $10,000 3 % 10-year street-improvement bonds
described in V. 85, p. 113, were awarded to Louis Cook of
Bridgeport at 103 and accrued interest— a basis of about
2 .6 7 % . Following are the bids:
L . C o o k , B r id g e p ’t (f o r 3 s ) .$ 1 0 ,3 0 0 00 N e w F ir s t N a tio n a l B a n k ,
C ol. (fo r 5 s ) ____________ $10 ,3 1 2 00
W e il, R o t h & C o ., C in­
cin n a ti (fo r 5 s ) __________ 1 0 ,5 7 6 00 E m e r y , A n d e r s o n & C o .,
S e a s o n g o o d & M a y e r ,C in ­
C le v e la n d (fo r 5 s ) ______ 10,3 0 0 00
cin n a ti (fo r 5 s ) ________ 1 0 ,533 50

All bidders offered accrued interest in addition to their
bids.
Brighton, Adams County, Colo.— Bond Sale.— On July 2
$3,500 5 % 10-15-year (optional) bonds were awarded to the
First National Bank of Brighton for $3,505— the price thus
being 100.142— a basis of about 4.982% to the optional date
and about 4.987% to full maturity. Denomination $500.
Date July 1 1907.
Bristol County, (P. O. Taunton) Mass.— Note Sale.— On
July 30 the $200,000 5% 4-year Taunton Great River bridgeconstruction notes described in V. 85, p. 237, were awarded
to Bond & Goodwin of Boston at 101.37— a basis of about
4.622% . The following bids were received:
B o n d & G o o d w in , B o s t o n ___ 1 01 .37 |B ris to l C o .S a v .B k .,T a u n t o n -1 0 0 .65
B lo d g e t t , M erritt & C o . , B o s .1 0 1 .31 I R . L D a y & C o . , B o s t o n ____ 100.597
N . W . H arris & C o ., B o s to n -1 0 0 .6 7 7 1 S. A . K e a n , C h ic a g o __________100 .50

Bronxville, Westchester County, N. Y .— Bond Sale.— On
July 26 the $18,400 5-24-year (serial) registered Front and
De Witt avenues grading and paving bonds described in V.
85, p. 237, were awarded to E . Seymour & Co. of New York
at par for 5s. This was the only bid received.
Brookhaven Union Free School District No. 24, Suffolk
County, N. Y .— Bond Offering.— Proposals will be received
until 12 m. Aug. 13 by C. Fremont Howell, Clerk Board of
Education (P. O. Patchogue), for the following bonds:
$ 6 0 ,0 0 0 s c h o o l b o n d s a t n o t e x c e e d in g 5 % In te re st. M a tu r ity $ 4 ,000
y e a r ly on D e c . 1 fro m 1907 t o 1921 in c lu s iv e .
2 0 ,0 0 0 a d d itio n a l s c h o o l-b u ild in g b o n d s a t n o t e x c e e d in g 5 % In terest,
m e n tio n o f w h ich w as m a d e In V . 85, p . 5 7 . M a tu r ity $2,0 0 0
y e a r ly o n D e c . 1 fro m 1912 t o 1921 in c lu s iv e .

Interest June 1 and Dec. 1 at the Patchogue Bank. Certi­
fied check for 10% of bid is required. Official advertise­
ment states that the legality of these bonds has never been
questioned and that the district has never defaulted in the
payment of any of its obligations.
Brownsville, Haywood County, Tenn.— Bond Offering.—
Proposals will be received until 12 m. Aug. 10 by W . W .
Croudell, Mayor, for the $30,000 5 % coupon street-improve­
ment bonds mentioned in V. 84, p. 1261. Authority Chap­
ter 293, Laws of 1907. Denomination $500. Date Sept. 1
1907. Interest annual. Maturity Sept. 1 1937. Certi­
fied check for $250, payable to W . W . Croudell, Mayor, is
required. Total debt at present $39,500. Assessed valua­
tion 1907, $1,000,000.
,




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.

Buffalo, N. Y . — Bond Issues.— Resolutions have been
adopted providing for the issuance of the following bonds:
$10 0,00 0 3 )4 % s c h o o l-b u ild in g b o n d s t o b e ta k e n a t p a r as fo llo w s : $ 7 5 ,0 0 0
b y th e E rie R a ilr o a d G ra de C rossin g B o n d S in k in g F u n d
a n d $ 25 ,000 b y th e P a rk B o n d R e d e m p tio n S in k in g F u n d .
D a te S e p t. 1 1907. In te r e s t M arch 1 an d S e p t. 1. M a ­
t u r it y S e p t. 1 1927.
5 0 ,0 0 0 3J4 % s c h o o l-b u ild in g b o n d s t o b e ta k e n a t p a r as fo llo w s : $ 3 0 ,000 b y th e P a rk B o n d R e d e m p tio n S in k in g F u n d a n d
$ 2 0 ,0 0 0 b y t h e N e w Y o r k C h ica g o & S t. L o u is G ra d e C ross­
in g B o n d S in k in g F u n d .
D a te A u g . 1 1907.
In terest
F e b . 1 an d A u g . 1. M a tu r ity A u g . 1 1927.
5,0 0 0 4 % b o n d s t o b e ta k e n a t p a r b y th e B a ile y A v e n u e S ew er S in k in g
Fund.
D a te A u g . 1 1907. M a tu r ity J u ly 1 1908.

Principal and interest payable at the office of the City
Comptroller.
Burlington, Des Moines County, Iowa.— Bond Offering.—
Proposals will be received until 4 p. m. Aug. 19 by Robert
Kroppack, City Clerk, for $40,000 4 % coupon fire-and-police
central-station-erection bonds. Authority Section 908,
Chapter 12, Code of Iowa. Denomination $1,000. Date
Oct. 15 1907. Interest semi-annually at the City Hall in
Burlington. Maturity on Oct. 15 as follows: $3,000 in
each of the years 1917, 1918 and 1919, $4,000 yearly from
1920 to 1923 inclusive and $5,000 yearly in each of the years
1924, 1925 and 1926.
Burlington, Burlington County, N. J.— Bond Offering.—
Proposals will be received until 8 p . m . Aug. 6 by Thomas S.
Mooney, City Clerk, for $36,000 4J^% coupon bonds. Denomination_$500. Date July 1 1907. Interest semi-annuaL
Maturity July 1 1937. Bids must be unconditional and
accompanied by certified check on a national bank for 2 %
of the bonds bid for, payable to Joshua Taylor, City Treas­
urer. Accrued interest to be paid by purchaser.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Cambridge, Guernsey County, Ohio.— Bond Election.—
On Aug. 8 this city will vote on a proposition to issue $8,000
Gomber Avenue opening and extending bonds.
Camden, Camden County, N. J.— Bond Offering.— Propos­
als will be received until 8 p. m. Aug. 15 by James E. Hewett,
Chairman of Finance Committee of City Council, for the fol­
lowing bonds:
$50,000 4 1 4 % 3 0 -y e a r h o s p ita l b o n d s d a t e d S e p t. 1 1907 o ffe r e d w it h o u t
su ccess o n M a y 6.
See V . 8 4 , p . 113 4.
150 .000 4 >5 % 2 0 -y e a r p a v in g b o n d s d a te d S e p t. 1 190 7, o ffe r e d w it h o u t
su ccess o n M a y 6.
S ee V . 84, p . 1134.
135 .000 4 ^ % 3 0 -y e a r flo a tin g d e b t b o n d s , d a t e d S e p t. 1 1907.
15,000 4 % % 2 5 -y e a r p a rk b o n d s, d a te d A u g . 1 1907.

Registered bonds in lieu of coupon bonds will be issued at
option of purchaser. Interest semi-annual. Bonds are taxexempt. Official circular states that there is no controversy
or litigation pending or threatened concerning the validity
of any of the above issues, the corporate existence or boun­
daries of municipality or the titles of the present officers to
their respective offices. Certified check on a national bank
for 2 % of bonds bid for, payable to the City Treasurer, is
required. Delivery Sept. 16. Accrued interest to be paid
by purchaser.
Camilla, Mitchell County, Ga.— Bonds Voted.— Bond Offer­
ing.— An election held July 24 resulted in a vote of 88 to 17
in favor of propositions to issue $12,000 5 % bonds for the
purchase of an ice plant and for the improvement of the
water and light plants. Maturity 1932. Proposals for these
bonds will be received until Aug. 5.
Campbell County (P. O. Jacksboro), Tenn.— Bpnd Offer­
ing.— Proposals will be received until 12 m. Sept. 2 by the
County Road Commission at the office of the County Judge
for $100,000 road bonds. Bids to be based on bonds carry­
ing 4 % , 43^% and 5 % interest. Authority Chapter 585,
Acts of 1907. Denomination not less than $100 nor more
than $1,000. Date Oct. 1 1907. Interest semi-annual.
Maturity Oct. 1 1937, subject to call after Oct. 1 1917.
Certified check for $2,500, payable to the County Road Com­
mission, is required.
Canton, Stark County, Ohio.— Bond Sale.— On July 29
the $1,800 4% 10-year coupon park bonds described in V. 85,
p. 114, were awarded to the Firemen’s Pension Fund Trus­
tees of Canton at 101.50 and accrued interest— a basis of
about 3.818% . This was the only offer received.
Carrollton, Carroll County, Ohio.— Bond Offering.— Pro­
posals will be received until 12 m. Aug. 20 by Sam Q. Mor­
row, Village Clerk, for $18,240 5% coupon paving bonds.
Denominations $700 and $1,124. Date Aug. 20 1907.
Interest semi-annual. Maturity part yearly on Aug. 20 from
1908 to 1917 inclusive. Certified check for 5% of bid, pay­
able to the Village Treasurer, is required. Bonded debt,
not including this issue, $21,000. Assessed valuation 1906
$562,000.
Celina School District (P. O. Celina), Mercer County, Ohio.
— Bond Offering.— We are advised that the $15,000 4 ^ %
school-building-completion bonds to be offered at 12 m.
Aug. 5 (V. 85, p. 237) are coupon in form and are exempt
from all taxes. Maturity $1,000 on Sept. 1 1934 and $2,000
yearly on Sept. 1 from 1935 to 1941 inclusive.
Chambers County (P .O . Lafayette), Ala.— Bond Election.
— Reports state that the Commissioner’s Court has passed an
order providing for an election to be held Sept. 21 to vote on
the question of issuing $120,000 5% 30-year^road-improvement bonds.

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THE CHRONICLE.

Chester School District (P. O. Chester), Thayer County,
Neb.— Bond Sale.— This district on July 20 awarded $8,000
5 % school bonds to W . E. Barkley Jr., President of the Lin­
coln Safe Deposit & Trust Co. of Lincoln, at 100.95. Inter­
est annual. Maturity twenty years, subject to call at any
interest date.
Chisholm School District No. 40 (P. O. Chisholm), St.
Louis County, Minn.— Bond Sale.— This district recently
awarded the $70,000 5 % coupon school bonds described in
V. 84, p. 1066, to the Commercial Investment Co. of Duluth
at par. Maturity part yearly on July 31 from 1912 to 1918
inclusive.
Clay Center, Clay County, Kan.— Bonds Authorized.— On
July 12 the City Council passed ordinance No. 128, which
provides for the issuance of $25,000 electric-plant bonds.
These securities take the place of those voted on July 12
1906 (V. 83, p. 846), the first issue having been canceled.
Cody School District No. 6 (P. O. Cody), Big Horn County,
W yo. — Bond Offering.— We are advised that the $7,500 6 %
school-building bonds to be offered at 2 p. m. Aug. 5 are
coupon in form and mature Aug. 1 1917. For other details
of bonds and terms of offering, see V. 85, p. 238.
Coles County (P. O. Charleston), 111.— Bond Offering.—
Proposals will be received until 2 p. m. Aug. 6 by Geo. S.
Boulware, County Clerk, for $225,000 4 % coupon funding
bonds. Authority Chapter 113, Revised Statutes of 1905,
and election held June 8. Denomination $500. Date
July 1 1907. Interest annually at the State Treasurer’s
office in Springfield. Maturity part yearly on July 1 from
1908 to 1927 inclusive. Certified check for $5,000, payable
to the Finance Committee, is required. Total debt, includ­
ing this issue, $231,000. Assessed valuation for 1906,
$6,874,000.
Concordia Parish School District, La.— Bond Offering.—
The Board of School Directors, D. C. Strickler, Secretary,
(P. O. Vandalia), is offering for sale $6,750 5 % bonds.
Covina School District (P. O. Covina), Los Angeles
County, Cal.— Bonds Voted.— This district on July 1 au­
thorized the issuance of the $60,000 5 % high-school-building
and site-purchase bonds mentioned in V. 84, p. 1384, by a
vote of 122 to 54. Maturity part yearly from 1918 to 1928.
Crowell Independent School District (P. O. Crowell),
Foard County, Tex.— Bonds Registered.— On July 26 $4,500
5% 10-20-year (optional) school-house bonds were registered
by the State Comptroller.
Cumberland County (P. O. Portland), Me.— Bonds Awarded
in Part.— On July 24 $100,000 of the $300,000 3 ^ % 15-year
court-house bonds offered without success on June 29 (V. 85,
p. 115) were awarded to W . H. Harris & Co. of Boston at
100.0955.
Cuyahoga County (P. O. Cleveland), Ohio.— Bond Offering.
Proposals will be received until 11 a. m. Aug. 28 by the Board
of County Commissioners for $12,633 4 % coupon bonds
for the purchase of the title to the Cleveland and Mayfield
Plank Road and the Independence and Parma Plank Road.
Authority Sections 4875-1, 4875-2, 4875-3, 4875-4 and 4875-5,
Revised Statutes. Denominations, twelve bonds for $1,000
each, one bond for $500 and one bond for $133. Date Sept. 1
1907. Interest April 1 and Oct. 1 at the County Treasurer’s
office. Maturity $7,000 on Oct. 1 1917 and $5,633 on Oct.
1 1918. Certified check for 10% of bonds bid for, payable
to the County Treasurer, is required. Purchaser to pay ac­
crued interest. Julius C. Dorn is Clerk of Board of County
Commissioners.
David City, Butler County, Neb.— Bond Offering.— Pro­
posals will be received until 5 p. m. Aug. 14 by W . S. McCoy,
City Clerk, for $22,000 5 % gold water refunding bonds.
Authority Sections 38 and 39, Chapter 9, Laws of 1905.
Denomination $1,000. Date Sept. 1 1907. Interest an­
nually at the Nebraska Fiscal Agency in New York City.
Maturity Sept. 1 1927, subject to call after Sept. 1 1909.
Bonded debt, including this issue, $25,000. Assessed valu­
ation for 1907 $451,000.
Daviess County, (P. O. Washington) Ind.— Bond Sale.—
We have just been advised that the following award was made
on April 15 of three issues of 4>£% gravel-road construction
bonds aggregating $15,170, offered on that day:

299

Aug. 1 1907. Interest semi-annual.
Maturity Aug. 1
1937, subject to call after Aug. 1 1912.
East Orange, Essex County, N. J.— Bond Sale.— On July 8
$100,000 4 % 40-year school bonds dated July 1 1907 were
awarded to J. S. Rippel of Newark at 100.25. Denomina­
tion $1,000. Interest semi-annual.
Edgefield County (P. O. Edgefield), So. Car.— Award
Postponed.— Owing to the absence of certain members of
the County Commission no award was made on July 27 of
the $20,000 6 % 20-year Dean or Pine Grove Township and
the $20,000 5 % 30-year Johnston Township coupon railroadaid-construction refunding bonds described in V. 85, p. 238.
Elizabeth City, Pasquotank County, No. Car.— Bond
Offering.— Proposals will be received until 12 m. Sept. 2
by R. T. Whitehurst, City Clerk, for $30,000 general-streetimprovement and $20,000 stone-curbing-purchase 5 % bonds.
These securities are part of an issue of $120,000 authorized
by an Act of the General Assembly ratified March 1 1907.
Denomination $1,000. Date Sept. 1 1907. Interest annual.
Maturity Sept. 1 1927. Certified check for $1,000 is re­
quired. Bonds will be delivered from time to time in such
amounts as is needed. Purchaser to pay accrued interest.
Elkhart School District (P. O. Elkhart), Elkhart County,
Ind.— Bond Sale.— On July 24 $60,000 4 % central-schoolbuilding bonds were awarded to Dick, Miller & Co. of Ind­
ianapolis for $60,200— the price thus being 100.333. De­
nomination $1,000. Date Aug. 1 1907. Interest' semi­
annual. Maturity part yearly on Aug. 1 from 1912 to 1917
nclusive.
Elkins, Randolph County, W . Va.— Bonds Voted.— This
town by a vote of 289 to 120 authorized the issuance of $30,000 water-works and $10,000 sewerage 5 % bonds. Date
of sale not yet determined. Maturity from twenty to thirtyone years.
Elkins Independent School District (P. O. Elkins), Ran­
dolph County, W . Va.— Bond Sale.— On July 27 the $60,000
5 % gold coupon school-house bonds described in V. 85, p.
175, were awarded to E. H. Rollins & Sons of Boston at
101.125 and accrued interest. Following are the bids:
E . H . R o llin s & S o n s, B o s t o n $ 6 0 ,6 7 5 (S e a s o n g o o d & M a y e r , C incinE m e r y , A n d e r s o n & C o ., C le. 60,625
n a ti ________________________ $ 6 0 ,0 7 5
W h it e & W h it e , W h e e l i n g .. . 6 0 ,1 0 0 | A . J . H o o d & C o ., D e t r o i t . . . 60,0 6 5

Maturity $15,000 on Aug. 1 in each of the years 1912, 1917,
1922 and 1927.
Ely School District No. 1 (P. O. Ely), White Pine County,
Nev.— Bond Offering.— Proposals will be received at any time
by Allen C. Bragg, Clerk of the Board of School Trustees,
for $15,000 6 % coupon school bonds. Authority an Act
of the Legislature approved March 28 1907. Denomination
$1,000. Date July 2 1907. Interest semi-annually at the
County Treasurer’s office in Ely. Maturity $1,000 each six
months from Jan. 2 1908 to Jan. 2 1915 inclusive. Bonds
are exempt from taxation. Certified check for 10% of bid,
payable to the Board of School Trustees, is required. Total
debt, this issue. Assessed valuation 1907 $1,000,000. These
bonds are part of the $35,000 bonds mentioned in V. 85,
p . 238.
Fayetteville, Washington County, Ark.— Bond Sale.—
The following bonds have been awarded to Whitaker & Com­
pany of St. Louis:
$ 1 1 0 ,0 0 0 5 %

g o ld w a te r im p ro v e m e n t d is tric t b o n d s .
D e n o m in a tio n
$ 1 ,0 0 0 .
M a tu rity as fo llo w s : $ 7 ,0 0 0 , In 190 8, $ 9 ,0 0 0 y e a r ly
f r o m l l 909 t o 1911 in c lu s iv e , $ 1 0 ,0 0 0 y e a r ly fr o m 1912 t o 1914
in clu s iv e , $ 1 2 ,0 0 0 in 191 5, $ 1 1 ,0 0 0 in 191 6, $ 1 3 ,0 0 0 in 1917
an d $ 10 ,000 In 1918.
9 0 ,0 0 0 5 % g o ld sew er Im p r o v e m e n t d is tric t b o n d s .
D e n o m in a tio n s
$ 1 ,0 0 0 , $500 an d $100. M a tu r ity as fo llo w s : $ 2 ,0 0 0 In 1 90 8,
$ 3 ,0 0 0 y e a r ly fro m 1909 t o 1911 In clu sive, $ 4 ,0 0 0 in 1 9 1 2 ,
$3,0 0 0 In 191 3, $4,0 0 0 y e a r ly fro m 1914 t o 1917 In clu siv e,
$ 5 ,0 0 0 y e a r ly fro m 1918 t o 1922 In clu sive, $6,0 0 0 In 1923,
$ 6 ,0 0 0 In 192 4, $ 7 ,000 in 192 5, $ 6 ,000 In 1926 a n d $ 6 ,0 0 0 in
1927.

Date of bonds Aug. 1 1907. Interest semi-annually at
the St. Louis Union Trust Co., Trustee, St. Louis.
Findlay, Hancock County, Ohio.— Bond Offering.— Pro­
posals will be received until 12 m. Aug. 19 by Wm. Demland,
City Auditor, for the $25,000 4J^% water-works refunding
bonds mentioned in V. 85, p. 238. Authority Section 2701,
Revised Statutes. Denomination $1,000. Date Sept. 1
1907. Interest semi-annually at the City Treasury. Ma­
turity $1,000 each six months from Sept. 1 1908 to Sept. 1
1920 inclusive. Certified check for 3 % of bonds bid for,
payable to the City Treasurer, is required. Purchaser to
$ 2 ,4 9 0 4 H % JH en ry A lk m a n , e t a l, g r a v e l-r o a d -c o n s tr u c tio n | b o n d s aw a rd e d
t o th e P e o p le ’ s N a tio n a l B a n k o f W a s h in g to n fo r $ 2 ,5 0 0 —
pay accrued Interest. Official circular states there is no
th e p r ice th u s b e in g 1 0 0 .4 0 1 . D e n o m in a tio n $124 50.
litigation or controversy pending or threatened affecting the
5,9 3 0 4 ^ % Jam es H
W ils o n , e t al, g r a v e l-r o a d -c o n s tr u c tlo n b o n d s
a w a rd e d t o J . F . W ild & C o . o f I n d ia n a p o lis fo r $ 5 ,9 4 5 — th e
validity of this issue and that the city has never defaulted in
p r ice th u s b e in g 1 0 0 .2 5 2 .
D e n o m in a tio n $296 50.
the payment of any of its obligations .
6 ,7 5 0 4 M % iT h e o . T . J o n e s , e t al, g r a v e l-r o a d -c o n s tr u c tlo n b o n d s a w a rd e d
t o J . F . W ild & C o . o f In d ia n a p o lis fo r $ 6 ,7 6 7 — th e p r ice
Fort Jennings Special School District (P. O. Fort Jen­
th u s b e in g 1 0 0 .2 5 1 .
D e n o m in a tio n $337 50.
nings), Putnam County, Ohio.— Bond Offering.— Proposals
The above bonds are dated May 16 1907 and mature one
will be received until 12 m. Aug. 10 by Alois H. Grote,
bond of each issue every six months from May 15 1908 to^Nov. Clerk Board of Education, for $10,000 5 % school-building
15 1917 inclusive. Interest annual.
bonds. Authority election held April 20 and Sections
^Des Moines, Polk County, Iowa.— Bond Sale.— On July 18 3991 and 3992 Revised Statutes. Denominations, ten bonds
$78,000 43^2% registered city-hall-site bonds were awarded of $500 each, five bonds of $800 each and one bond of $1,000.
to Emery, Anderson & Co. of Cleveland, at par. These Date Sept. 2 1907. Interest semi-annual. Maturity on
bonds take the place of the $78,000 4J^% registered city-hall- Sept. 1 as follows: $500 yearly from 1909 to 1918 inclusive,
site bonds awarded on April 29 to Mac Donald, McCoy & Co. $800 yearly from 1919 to 1923 inclusive and $1,000 in 1924.
of Chicago, which sale was never consummated. See V. 84, Certified check for $500, payable to the Board of Education,
p. 1262.
is required. Purchaser to pay accrued interest.
Dubois School District, (P. O. Dubois) Clearfield County,
Fort Pierre Independent School District (P. O. Fort
Pa.— Bond Offering.— Proposals will be received until 12 m. Pierre), Stanley County, So. Dak.— Bond Offering.— Propos­
Aug. 8 by Frank Hutton, Secretary of School District, for als will be received until 8 p. m. Aug. 30 by F. G. Fischer,
$25,000 4J^% school bonds. Denomination $500. Date President of School Board, for $19,000 5 % school bonds.




•100

THE CHRONICLE.

Authority Section 2424, Chapter 103, Laws of 1905; also
vote of 117 to 5 at election held April 16. Denomination
£500. Interest Jan. and July. Maturity twenty years, sub­
ject to call after ten years. Certified check for 2 % required.
Bonded debt at present $5,000. Floating debt, $9,008.
Assessed valuation 1907, $457,507.
Frankfort and German Flatts (Towns) Union Free School
District No. 1, Herkimer County, N. Y .— Bond Sole.— On
July 30 the $21,000 4 K>% registered school bonds described
in V. 85, p. 175, were awarded to O’Connor & Kahler of New
York City at par and accrued interest. This was the only
bid received. Maturity $1,000 yearly on Jan. 1 from 1920 to
1940 inclusive.
Franklin, Norfolk County, Mass.— Bonds Awarded in Part.
— This city has sold at par $170,000 of the $175,000 4 % bonds
authorized for the purchase of the plant of the Franklin
Water Co. See V. 84, p. 1565.
Frio County Common School District, Tex.— Bonds Regis­
tered.— The State Comptroller on July 22 registered $3,000
4 % 15-20-year (optional) school-house bonds of this district
dated May 15 1907.
Glassport School District (P. O. Glassport), Allegheny
County, Pa.— Bond Offering.— Further details are at hand
relative to the offering on Aug. 5 of the $50,000 4Vo%, coupon
(with privilege of registration) bonds mentioned in V. 85.
p. 176. Proposals for these bonds will be received until
7 p. m. on that day by Boyd Wilson, Secretary of the School
Board. Denomination $1,000. Date June 1 1907. Interest
semi-annually at the office of the United States Mortgage &
Trust Co. of New York City. Maturity on June 1 as follows:
$1,000 yearly from 1910 to 1919 inclusive, $2,000 yearly
from 1920 to 1933 inclusive and $3,000 yearly from 1934 to
1937 inclusive. Bonds are exempt from taxation. Bid to
be made on printed form furnished by the district and must
be accompanied by a certified check for 3 % of bonds bid for.
drawn on a national bank or trust company, and made pay­
able to the “ Glassport School District.” Purchaser to pay
accrued interest. Bonds to be delivered Aug. 15.
Granite Falls School District (P. O. Granite Falls), Yel­
low Medicine County, Minn.— Bond Sale.— On July 1 $14,000 4 % 19-28-year (serial) school-building bonds dated July
17 1907 were awarded to the State of Minnesota at par.
Denomination $1,400. Interest annually on July 1.
Guttenberg School District (P. O. Sta. A , Weehawken),
Hudson County, N. J — Bond Sale.— This district lias
awarded the $53,900 5% coupon school bonds offered but
not sold last November to R. M. Grant & Co. of New York
City. Denominations $1,000 and $900. Date Jan. 1 1907.
Interest semi-annual. Maturity part yearly on Jan. 1 from
1910 to 1936 inclusive.
Hamilton, Butler County, Ohio .— Bond Offering.— Propos­
als will be received until 12 m. Aug. 29 by Thad Straub, City
Auditor, for $8,773 02 Seventh Street and $27,707 64 Dayton
Street 4 f 2% coupon improvement assessment bonds. Date
Aug. 1 1907. Interest semi-annual. Maturity one-tenth of
each issue yearly on Aug. 1 from 1908 to 1917 inclusive.
Certified check for 5 % of bid, payable to the City Treasurer,
is required. Accrued interest to be paid by purchaser.
Bond Sale.— On July 31 the $20,000 water-works and the
$5,000 electric-light 4 % 15-year coupon refunding bonds
described in V. 85, p. 115. were awarded, it is stated, to the
Western German Bank of Cincinnati at 101.504— a basis of
about 3.868% .
Hamilton, Ont.— Debenture Sale.— Of the four issues of 4 %
debentures aggregating $422,000 described in V. 84, p. 1443,
the $105,000 debentures maturing part yearly for 20 years
and the $62,000 water-works debentures maturing in 30
years were awarded to Aemilius Jarvis & Co. of Toronto at
91.43. We are advised that the other two issues aggregating
$255,000 have not yet been disposed of.
Harris County (P. O. Houston), Texas.— Bond Offering.—
Proposals will be received until 12 m. Aug. 12 by the County
Auditor for $500,000 4 % coupon road and bridge bonds.
Denomination $1,000. Interest semi-annually at the
County Treasurer's office in Houston. Maturity forty years,
subject to call after ten years. Certified check (or cash) for
2 % of bid, payable to O. E. Amerman, County Judge, is
required.
Hartsville School District No. 32 (P. 0 . Hartsville), Dar­
lington County, So. Car.— Bond Offering.— Proposals will
be received until 12 m. Sept. 20 by the Board of School
Trustees, M. S. McKinnon, Chairman, for the $25,000 5%
coupon school-building bonds mentioned in last week’s issue.
Authority, Section 246, page 522, Acts of 1907. Date
July 1 1907. Interest semi-annually at the Bank of Harts­
ville. Maturity July 1 1927. Bonds are exempt from all
taxation. Certified check for $1,000, payable to M. S.
McKinnon, Chairman, is required. Purchaser to pay the
cost of lithographing and issuance of bonds and all other ex­
penses.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Hempstead Union Free School District No. 14 (P. O. Woodmere), Nassau County, N. Y .— Bond Offering.— Proposals
will be received until 8 p. m. Aug. 5 by the Board of Edu­
cation, E. C. Smith, President, for $10,000 5 % gold coupon




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lxxxv

.

school-house-addition bonds. Authority, election held July
1 1907. Denomination $500. Date Aug. 20 1907. In­
terest annually on Dec. 1 at the Bank of Lawrence. Ma­
turity $500 yearly on Dec. 1 from 1908 to 1927 inclusive.
Certified check for $500, payable to D. Hewlett, Treasurer
of the Board of Education, is required. Bonded debt at
present, $5,775. Assessed valuation 1906, $712,852.
Hendricks County (P. O. Danville), Ind.— Bond Sale.— On
July 15 $12,080 4 )4 % gravel-road bonds (two issues) were
awarded to J. F. Wild & Co. of Indianapolis for $12,085—
the price thus being 100.041. Denomination $212 and $90.
Date July 15 1907. Interest May 15 and Nov. 15. Ma­
turity part every six months beginning May 15 1908.
Holloway, Swift County, Minn.— Bond Sale.— On July 18
the $4,000 4 % tow'n-hall bonds mentioned in V. 84, p. 1384,
were awarded to the State of Minnesota at par. Denomina­
tion $500, except one bond for $1,000. Date July 22 1907.
Interest annual. Maturity $1,000 on July 1 1915 and $500
yearly on July 1 from 1916 to 1921 inclusive.
Howell, Livingston County, Mich.— Bonds Defeated.— An
election held July 15 resulted in the defeat of a proposition
to issue sewer bonds.
Huxley School District (P. O. Huxley), Story County,
Iowa.— Bond Offering.— Proposals will be received until
1 p. m. Aug. 10 by O. J. Severeid, Secretary, for $5,800
5 % school-building bonds. Interest semi-annual. Ma­
turity part yearly from five to ten years. Certified check
for $100, payable to the Treasurer, is required. Purchaser
to furnish blank bonds.
Iberville Parish School District (P .O . Plaquemine), La.—
Bond Offering.— Proposals will be received until 3 p. m.
Aug. 16 by C. J. Brown, Secretary of the School Board, for
$30,000 5% coupon bonds, for the construction of a highschool-building at White Castle, the building of two district
schools and the remodeling of another district school. De­
nomination to suit purchaser. Maturity 20 years, subject
to call after ten years. Certified check for $1,000, payable
to the Secretary of the School Board, is required.
Innisfail Public School District No. 210 (P. O. Innisfail),
Alta.— Debentures Not Sold.— No sale was made on July 15
of the $23,000 5% school debentures described in V. 84. p,
1565. Maturity part yearly for thirty years.
Island County School District No. 19, W ash.— Bond Sale.
— On June 1 $1,000 5% 3-10-year (optional) school-house
bonds were awarded to the State Board of Finance at par.
Denomination $200. Date July 1 1907. Interest annual.
Iva School District (P .O . Iva), Anderson County, So. Car.
— Bid Rejected.— A bid of $6,061 (101.016) submitted by
C. II. Coffin of Chicago was the only offer received on July
25 for the $6,000 20-year coupon school-building bonds
described in V. 85. p. 55. Tlfis bid was rejected.
Kanawha County (P. O. Charleston), W . V a.— Bond Elec­
tion.— An election will be held Aug. 17 to vote on the ques­
tion of issuing $300,000 5% main-road-permanent-improveinent bonds. Authority Section 26, Chapter 43, Code of
West Virginia. Denomination $1,000. Date July 1 1907.
Interest semi-annual. Maturity $50,000 on July 1 in each
of the years 1912, 1917, 1922, 1927. 1932 and 1937.
Kcnsas City School District (P. O. Kr.nsas City), Jackson
County, Mo.— Bonds Not Sold.— No satisfactory bids were
received on Aug. 1 for the $600,000 4 % 20-year gold coupon
school-building bonds described in V. 85, p. 240.
Kenedy School District (P. O. Kenedy), Karnes County,
Texas.— Bonds to Be Sold to State.— We are informed that
arrangements have been made with the State for the sale of
$12,000 school-building bonds.
Knox County (P. 0 . Vincennes), Ind.— Bond Sale.— The
following award was made on June 20 of $21,040 4 ^ % Vin­
cennes Township bonds and $6,193 4J^% Palmyra Town­
ship bonds offered on that day:
$ 2 1 ,0 4 0 4 )4 % V in ce n n e s T o w n s h ip b o n d s aw a rd e d t o J. F . W ild & C o. o f
In d ia n a p olis at p a r and a ccru e d Interest.
6,193 \ y2 % P a lm y ra T o w n s h ip b o n d s aw ard ed t o J. F . W ild & C o. o f
In d ia n a p o lis at p ar and a ccru e d Interest.
D e n o m in a tio n
S319 65.

The above bonds are dated June 15 1907. Interest May
15 and Nov. 15.
Lakewood, Cuyahoga County, Ohio.— Bond Offering.—
Proposals will be received until 12 m. Aug. 10 by B. M.
Cook, Village Clerk, for $26,678 5 % coupon general improve­
ment (city’s portion) bonds. Authority Section 1536-213,
Revised Statutes, and an ordinance passed by the City Coun­
cil June 3 1907. Denomination $1,000 except one bond for
$678. Date June 15 1907. Interest April 1 and Oct. 1 at
the Cleveland Trust Co. of Cleveland. Maturity Oct. 1 1917.
Bonds are exempt from taxation. Certified check for 5%
of bonds bid for, payable to the Village Treasurer, is re­
quired. Purchaser to pay accrued interest.
Lancaster, Lancaster County, Pa.-— Bonds Authorized.—
The City Council has authorized the issuance of $87,233
permanent-street-improvement bonds.
Lawrenceburg, Lawrence County, Tenn.— Bond Offering.
— Proposals will be received until 4 p. m. Aug. 20 by Jas. T.
Dunn, Secretary, for $25,000 5 % coupon water and light
bonds. Date March 1 1906. Interest semi-annually in New
York City or Lawrenceburg. Maturity twenty years, sub­
ject to call after ten years. Purchaser to pay accrued in­
terest. Delivery of bonds Sept. 1 1907.

A

ug

. 3 1907. |

THE CHRONICLE

Lexington, Davidson County, No. Car.— Bond Offering^—
Proposals will be received until 4 p. m. Aug. 10 by Jno. H.
Moyer, Mayor, for $10,000 5 % coupon street-improvement
bonds. Denomination $500. Interest semi-annually at the
Bank of Lexington. Maturity forty years, subject to call
after twenty years.
Libertyville School District No. 70 (P. O. Libertyville),
Lake County, 111.— Bids Rejected.— All bids received on
July 25 for the $10,000 4 % school-building bonds described
in V. 85, p. 116, were rejected.
Lincoln County, (P. O. Ivanhoe) Minn.— Bond Sale.—
This county has awarded $11,167 4 % drainage bonds to the
State of Minnesota at par. Denominations $667, $1,500 and
$4,500. Date June 29 1907. Interest annually in July.
Linden, Iowa County, W is.— Bonds Voted and Sold.— By
a vote of 99 to 89 this city on July 16 authorized the issuance
of the $8,000 5 % water-works bonds mention of which was
made in V. 84, p. 1137. These securities have been awarded
to the Bank of Linden.
Logan City, Cache County, Utah.— Bond Sale.— On July
16 an issue of $45,000 (not $40,000 as first reported) 4J/£%
20-year refunding bonds was awarded to the Utah State
Land Board at par. Denomination $1,000. Date Aug. 1
1907. Interest Jan. 31 and July 31.
Logan County (P. O. Bellefontaine), Ohio.— Bond Offering.
— Proposals will be received until 2 p . m . Aug. 12 for $17,000
4 % county ditch bonds. Authority Sections 4481 and 4482,
Revised Statutes. Denomination $500. Date Aug. 12
1907. Interest semi-annually at the County Treasurer’s of­
fice. Bonds are exempt from taxation. A deposit of $250
is required with each bid. Official circular states that there
is no litigation pending or threatened affecting this issue
and that there has never been default in the payment of
principal or interest.
Loudonville, Ashland County, Ohio.— Bond Offering.—
Proposals will be received until 12 m. Aug. 12 by Bernhard
.Strauss, Village Clerk, for $15,696 5 % Main Street improve­
ment bonds. Authority Section 2835, Revised Statutes.
Denomination $392 40. Date Aug. 1 1907. Interest semi­
annual. Maturity $784 80 each six months from March 1
1908 to Sept. 1 1917 inclusive. Certified check for 5 % of
bonds bid for, payable to the Village Treasurer, is required.
Purchaser to pay accrued interest.
Louisville, Jefferson County, K y.— Bonds Awarded in
P art.— Up to July 30 $413,000 of the $1,000,000 4 % 40-year
old coupon sewerage-system-construction bonds offered on
uly 10 (V. 84, p. 1503) had been disposed of to local brokers
at par and accrued interest.
Luzerne County (P. O. Wilkes-Barre), Pa.— Bond Sale.—
On July 25 the $150,000 4 % 1-20-year (serial) coupon
court-house-erection bonds described in V. 85, p. 177, were
awarded to Graham & Co. of Philadelphia.
McMechen, Marshall County, W . V a.— Bond Election
Proposed.— This city proposes to hold an election to vote on
the question of issuing sewer bonds. These bonds, if au­
thorized, will take the place of the $25,000 5 % coupon sewer
bonds offered on May 18 (V. 84, p. 1137), an error having
been discovered in the election held April 25.
Mercer County (P. O. Celina), Ohio.— Bond Offering.—
Proposals will be received until 10 a. m. Aug. 17 by T. A>
Weis, County Auditor, for $22,000 4 % 'coupon Will Road
pike bonds. Authority Title 7, Chapter 8r, Revised Statutes
Denomination $500. Date Sept. 1 1907. Interest semi­
annual. Maturity $1,000 each six months fromMarch 1
1908 to March 1 1914 inclusive, $1,500 on Sept. 1 in each
of the years 1914,1915,1916 and 1917 and $1,000 on March 1
in each of the years 1915, 1916 and 1917. Cash deposit of
$100 is required.
Bond Offering.— Proposals will also be received until 10
p. m. on the same day (Aug. 17) by T. A. Weis, County
Auditor, for $28,500 4 % coupon Felver Road pike bonds.
Authority Title 7, Chapter 8, Revised Statutes. Denom­
ination $500. Date Sept. 1 1907. Interest semi-annual.
Maturity on Sept. 1 as follows: $2,500 yearly from 1908 to
1910 inclusive and $3,000 yearly from 1911 io 1917 inclus­
ive. Cash deposit of $100 is required.
Merkel Independent School District (P .O . Merkel), Taylor
County, Tex.— Bonds Registered.— An issue of $10,000 5 %
school-house bonds maturing April 25 1927 was registered
by the State Comptroller on July 27.
Middletown, Butler County, Ohio.— Bond Offering.— Pro­
posals will be received until 12 m. Aug. 26 by N. G. Oglesby,
City Auditor, for $1,129 40 4 % Woodside Avenue improve­
ment assessment bonds. Authority Section 75, Municipal
Oode. Date Aug. 15 1907. Interest semi-annually at the
National Park Bank of New York City. Certified check for
$75 is required. Accrued interest to be paid by purchaser.
Milden Public School District No. 1735, Sask.— Debenture
Offering.— Proposals will be received until Aug. 20 by Ernest
Duff, Secretary-Treasurer, for $1,500 debentures. Ma­
turity part yearly for ten years.
Milton (P. O. Boston), Norfolk County, Mass.— Tempor­
ary Loan.— The Treasurer has borrowed $25,000 until Dec. 9
from Blake Bros. & Co., of Boston, at 5.19% discount.
Mineola, Nassau County, N. Y .— Bond Offering.— Pro­
posals will be received until 8 p . m . Aug. 5 (postponed from
July 19) by the Board of V llage Trustees for $40,000 coupon




301

or registered water-system-construction bonds. Denomina­
tion $500. Date July 1 1907. Interest (rate to be named in
bid) semi-annually. Maturity $2,500 yearly on Julyfcl
from 1912 to 1927 inclusive. Bonded debt, this issue.
Certified check for $1,000, payable to Joseph Smith, Village
President, is required.
Monett, Barry County, Mo.— Bids.— The following bids
were received on July 23 for the $7,000 5 % 10-20-year
(optional) coupon public-sewer bonds, awarded on that day
(V. 85, p. 240) to the William R. Compton Bond & Mortgage
Co. of Macon at 101.256 and accrued interest:
W illia m R . C o m p t o n B o n d & M o r tg a g e C o ., M a c o n __________________a $ 7 ,0 8 8
L ittle & H a y s I n v e s tm e n t C o ., S t. L o u is ______________________________
7 ,1 4 2
S . A . K e a n , C h ic a g o ______________________________________________________
7 ,0 7 0
7,011
C . H . C o ffin , C h ic a g o ..............................................................................................
a A n d a ccru e d in terest

Morris, Man.— Debentures Not Sold.— No sale was made
on July 10 of the $15,000 4 ^ % refunding and the $3,500
5 % debentures described in V. 84, p. 1566.
Moscow School District No. 1 (P. O. Moscow),-Latah
County, Ida.— Bond Sale.— This district has awarded $1,000
5 % school-house bonds to the State of Idaho at par. De­
nomination $500. Date July 1 1907. Interest semi-annual.
Murray, Calloway County, K y.— Bond Offering Postponed.
— We are informed that the offering of the $19,500 4 % 5-20year (optional) coupon water-works and electric-light bonds
which was to have taken place July 26 (V. 85, p. 240,) has
been postponed until 8 p. m. Aug. 23.
Newark, Licking County, Ohio.— Bonds Authorized.— On
July 15 the City Council passed a resolution authorizing the
issuance of $5,000 4 J^% coupon refunding light bonds.
Denomination $500. Date Sept. 1 1907. Interest semi­
annually at the office of the Sinking Fund Trustees. Ma­
turity $1,000 yearly on Sept. 1 from 1910 to 1914 inclusive.
New Barbadoes Township School District (P. O. Hacken­
sack), Bergen County, N. J.— Delivery of Bonds.— We are
advised that the $30,000 43^% coupon school-building
bonds to be offered on Aug. 5 will be delivered to the pur­
chaser on Sept. 16 and not Sept. 15 as stated in the first
advertisement. See V. 85, p. 241, for description of bonds
and terms of offering.
New Haven, Fayette County, Pa.— Bond Offering.— Pro­
posals will be received until 12 m. Aug. 5 by W m . K . Huster,
Borough Clerk, for $11,500 4
gol d refunding bonds.
Denomination $500. Date Sept. 1 1907. Interest semi­
annually at the Union Trust Co. of Pittsburgh. Maturity
$1,000 yearly beginning Sept. 1 1910. Bonds are exempt
from all taxes. Certified check for $1,000, payable to the
“ New Haven Borough,” is required. Bonded debt, includ­
ing this issue, $15,500. Assessed valuation, $589,935.
New Orleans, La.— Bond Offering.— Proposals will be re­
ceived until 3 p. m. Aug. 27 by the Board of Liquidation of
the City Debt for the $175,000 to $200,000 4 % coupon
school-teachers’-salary bonds offered but not sold on July 23.
See V. 85, p. 241. Denomination $1,000. Date Jan. 1 1907.
Interest semi-annually. Maturity, Jan. 1 1927, subject to call
after Jan. 1 1917. Certified check for $5,000 on the entire
issue and for 3 % on amounts less than the entire issue is
required. Past-due interest coupons will be canceled before
delivery to purchaser.
Newton, Catawba County, No. Car.— Bond Offering.—
Proposals will be received until 4 p. m. Aug. 15 by W . B.
Gaither, Mayor, for $75,000 5 % coupon water, sewer and
light bonds. Denomination $1,000. Date July 1 1907.
Interest semi-annual. Maturity July 1 1937. Certified
check for 2 % of bonds bid for, payable to the Town Treas­
urer, is required.
New York City.— Bond Offering.— Proposals will be re­
ceived until 2 p. m. Aug. 12 by Herman A. Metz, City Comp­
troller, for $15,000,000 4 % gold registered or coupon cor­
porate stock and bonds as follows:
$ 9 ,0 0 0 ,0 0 0 4 % c o rp o ra te s to c k fo r v a rio u s m u n icip a l p u rp o se s, m a tu rin g
M a y 1 1957
A
2 .5 0 0 .0 0 0 4 % c o r p o r a te s to c k fo r w a te r s u p p ly , m a tu rin g M a y 1 195 7.
1 .5 0 0 .0 0 0 4 % c o r p o r a te s to c k fo r th e co n s tr u c tio n o f th e R a p id T ra n sit
R a ilr o a d .
M a tu rity M a y 1 1957.
2,0 0 0 ,0 0 0 4 % a ssessm en t b o n d s, m a tu rin g M a y 1 1917.

The above bonds are exempt from all taxation save for
State purposes. Interest May 1 and November 1.
Bonds or stock issued in coupon form can be converted
at any time into registered bonds or stock and bonds, or
stock issued in registered form can be converted at any
time into coupon bonds or stock in denomination of $1,000.
Either money or a certified check drawn to the order of
the City Comptroller for 2 % of the par value of the stock or
bonds bid for must accompany proposals.
Chapter 274 of the Laws of 1904, which applies to the
sale of bonds of the City of New York, provides that “ allor-none” bids cannot be considered by the Comptroller
unless the bidder offering to purchase “ all or none” of the
bonds offered for sale shall also offer to purchase “ all or any
part” thereof.
The off cial notice of this bond offering will be found among
the advertisements elsewhere in this Department.

302

THE CHRONICLE.

North Andover, Essex County, Mass.— Temporary Loan.—
A loan of $10,000 has been negotiated with Bond & Goodwin
of Boston at 5.40% discount. Loan matures Nov. 15 1907.
Norwood (P. O. Ind. Sta. H, Cincinnati), Ohio.— Bond
Sale.— On July 26 the $4,000 4 % 25-year fire and policestation-equipment bonds described in V . 84, p. 1566, were
awarded to the Atlas National Bank of Cincinnati at 101.875
— a basis of about 3.883% .
Oakland, Alameda County, Cal.— Bonds Valid.— Bond
Offering.— The State Supreme Court has rendered a decision
sustaining the validity of the $992,000 43^% gold coupon
public-park bonds mentioned in V. 84, p. 1566. Proposals
will be received for these bonds until Aug. 5.
Oberlin, Lorain County, Ohio.— Bond Sale.— On July 26
the $38,000 4 % West Lorain and North Professor Street
paving assessment bonds offered on June 29 (V. 84, p. 1445)
were awarded to the State Savings Bank Co. of Oberlin at
par and accrued interest. Maturity $2,000 on July 1 1908
and $4,000 yearly on July 1 from 1909 to 1917 inclusive.
Omaha, Douglas County, Neb.— Bond Sale.— On Aug. 1
the $100,000 sewer-renewal, $75,000 paving-renewal and
$200,000 renewal \ X
A % 20-year coupon bonds described in
V. 85, p. 178, were awarded, it is stated, to E. H. Rollins &
Sons of Chicago for $385,638 75— the price thus being 102.834
— a basis of about 4.288% .
Orangetown Union Free School District No. 4 (P. O.
Nyack), Rockland County, N. Y .— Bond Sale.— On July 26
the $75,000 5-29-year (serial) registered school bonds de­
scribed in V. 85, p. 178, were awarded to N. W . Harris &
Co. of New York City at 100.354 and accrued interest for
4 ^ s — a basis of about 4 .4 7 % . Following are the bids:

[V o l .

lxxxv

.

Raymond School District (P. O. Raymond), Lancaster
County, Neb.— Bond Sale.— On July 20 $3,500 5 % 10-20year bonds were awarded to W . E. Barkley Jr., President
of the Lincoln Safe Deposit & Trust Co. of Lincoln, at 101.
Interest annual.
Roane County (P. O. Kingston), Tenn.— Bond Offering.—
Proposals will be received until 1:30 p. m ., Aug. 5, by J. C.
Pope, County Clerk, for $60,000 5 % coupon refunding bonds.
Authority, Chapter 190, Laws of 1907. Denomination $100.
Date, day of sale. Interest annually at the County Trustee’s
office in Kingston. Maturity 20 years, subject to call after
five years. Certified check for $600, payable to E. C. Rob­
erts, County Trustee, is required.
Rochester, N. Y .— Temporary Loans.— The following bids
were received on July 29 for $549,000 water-works-improvement notes and $100,000 local-improvement notes:
a S e cu rity T ru st C o ., R o ch e s te r: $ 5 4 9,00 0— 5 .8 7 3 ^ % .
h O n eid a S a v in gs B a n k , O n eid a ; $ 5 0 ,0 0 0 eith er issue— 5 % .
d B r o a d w a y S av in gs I n s titu tio n , N .Y . $ 2 5 ,0 0 0 lo ca l-im p ro v e m e n t— 5 1'o.
d M on roe C o u n ty S a v . B a n k ,R o c h e s te r ; $ 1 0 0 ,0 0 0 —-5 VS % and $5 p rem .
B o n d & G o o d w in , B o s to n ; $64 9 ,0 0 0 — 6 % an d $25 p rem iu m .
B a n k fo r S a v in g s, N e w Y o r k ; $ 1 0 0 ,0 0 0 — 5 )4 % an d $12 p rem iu m .
a A w a r d e d $54 9 ,0 0 0 w a te r n otes,
ft A w a rd e d $ 5 0 ,0 0 0 lo ca l-im p ro v e ­
m e n t n o te s . d A w a r d e d $ 2 5 ,0 0 0 lo ca l-im p ro v e m e n t n o te s.

The Bank far Savings declined to accept a portion of the
loan.
Rockaway Township School District (P. O. Rockaway),
Morris County, N. J.— Bond Sale.— On July 27 the $4,000
5 % 3-6-year (serial) coupon school-house bonds mentioned
in V. 85, p. 178, were awarded to the First National Bank of
Rockaway at 101— a basis of about 4 .75% . A bid of
100.375 was also received from C. S. Dickerson of Denville.
N . W . H arris & C o .. N e w Y o r k (fo r 4 V £ s)----------------------------------- $ 7 5 ,2 6 5 50
Roeding School District, Fresno County, Cal.— Bond-Sale.
R u d o lp h K le v b o lt e & C o ., N ew Y o r k (fo r 4 .6 0 s ).............................. 7 5 ,1 1 0 00
— On July 22 the $10,000 5 % 1-10-year (serial) gold coupon
O ’ C o n n o r & K a h le r, N e w Y o r k (fo r 4 .7 5 s ) .......................................... 7 5 ,3 7 5 00
school-building bonds described in V. 85, p. 178, were
Ferris & W h it e , N e w Y o r k (fo r 4 .7 5 s ) ------------------------------- ------------ 7 5 ,0 5 5 00
J o h n D . E v e r itt & C o ., N ew Y o r k (fo r 5 s ) ................................... ....... 7 7 .6 7 7 50
awarded to N. W . Harris & Co. of Los Angeles at 100.78
Palisade, Mesa County, Colo.— Bond Offering.— Proposals and accrued interest— a basis of about 4.838% . A bid was
will be received until 8 p. m. Aug. 2 0 'by K . H. Cannam, also received from the Los Angeles Trust Co. of Los Angeles
Town Clerk, for $75,000 6 % water-works-system-construc- at 100.40.
tion bonds. Authority an Act of the General Assembly
Sacramento, Sacramento County, Cal.— Bond Sale.— This
approved April 4 1877. Denomination $1,000. Date June city has awarded the $300,000 4 % 1-40-year (serial) coupon
10 1907. Interest semi-annually at Kountze Bros, in New city-hall bonds offered on July 1 (V. 84, p. 1387) to the
York City or at the Town Treasurer’s,office, at the option of National Bank of D. O. Mills & Co. of Sacramento for
purchaser. Maturity June 10 1922, subject to call after $300,010 (100.003) and accrued interest.
June 10 1917. Certified check for 1% of bonds bid for, pay­
Saginaw, Saginaw County, Mich.— Bond Offering.— The
able to D. L. Rusk, Town Treasurer, is required. Bonded
debt, this issue. Official circular states there is no litigation following 4 % bonds are being offered at par and accrued
interest by Wm. Seyffardt, City Comptroller:
pending or threatened concerning the validity of this issue.
A m o u n t.
P u rp o se .
D a te.
D en o m in a tio n . M a tu r ity .
Pendleton, Umatilla County, Ore.— Bond Offering.— Pro­ $ 2 ,0 0 0 B rid ge ............................................ J u ly 20 1907 $ 1 ,000
1912
2
.0
0
0
S
treet
im
p
r
o
v
e
m
e
n
t...............
J
u
ly
25
1907
500
190 9-1 912
posals will be received until Aug. 21 by John Hailey, Acting
4 .0 0 0 S treet im p r o v e m e n t __________J u ly 25 1907
1,0 0 0
190 9-1 912
City Recorder, for $135,000 bonds. Certified check for
4 .0 0 0 S treet Im p r o v e m e n t ______ . . A u g . 1 1907
400
19U8-1917
8 .0 0 0 S treet im p r o v e m e n t __________A u g . 1 1907
1 ,0 0 0
190 9-1912
$2,500, payable to the Mayor, is required.
7 .0 0 0 S tre e t I m p r o v e m e n t _________ A u g . 1 1907
700
190 8-1917
Ponca City, Kay County, Okla.— Bond Sale.— This city 1 0 ,0 0 0 S tre e t im p r o v e m e n t __________A u g . 1 1907
1,0 0 0
190 8-1917
9 .0 0 0 S treet im p r o v e m e n t __________A u g . 15 1907
1 ,0 0 0
1909-1917
has awarded the $20,000 sewer and the $12,500 water-works
4 ,5 0 0 S treet im p r o v e m e n t __________Aug.|15 1907
500
190 9-1917
5 % 20-year bonds offered on June 18 (V. 84, p. 1445) to
St. Bernard School District (P. O. Station No. 17, Cin­
the Oklahoma Bond & Trust Co. at par.
cinnati), Hamilton County, Ohio.— Bond Offering.— Pro­
Portland, Cumberland County, Me.— Bond Sale.— On July posals will be received until 12 m ., Aug. 30, by Chas. J.
27 the $55,000 4 ^ % gold coupon Durham Street school- Lohmann, Clerk of Board of Education, for $3,000 5 % cou­
building bonds described in V. 85, p. 241, were awarded to pon school bonds. Authority Section 3994, Revised Stat­
N. W . Harris & Co. of Boston at 103.301. Following are utes as amended April 15 1904. Denomination $500. Date
the bids:
day of sale. Interest March 1 and Sept. 1 at the Citizens’
N . W . H arris & C o ., B o s t o n .1 0 3 .3 0 1 K ln g s le y & A d a m s ,W o r c e s t e r 1 02 .50
Bank of St. Bernard. Maturity Sept. 1 1917.
Certified
L e e , H ig g in s o n & C o ., B o s t . .1 0 2 .3 5 6
C a n al N a t. B a n k , P o r t l a n d .-1 0 3 .2 6
M errill, O ld h a m & C o ., B o s t .1 0 3 .1 8 9 M a c k a y & C o ., B o s t o n -----------1 02 .35
check for $150, payable to the Clerk of the Board of Educa­
C harles H . G ilm a n , P o r t la n d .1 0 3 .1 7 6 P e r r y , C o ffin & B u rr, B o s t o n 102 .345
tion, is required.
A . B . L e a ch & C o ., B o s t o n - .1 0 2 .2 9 3
G e o . A . F ern a ld & C o ., P o r t -1 0 3 .1 6
R u d o lp h K le y b o lt e & C o ., B o s t. 103.03 B lo d g e tt, M erritt & C o ., B o s -1 0 1 .5 4
St. Charles, Saginaw County, Mich.— Bond Offering.—
T
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H u n t , M an n & S a lto n s s ta ll,
Proposals will be received up to and including Aug. 12 by
land ............... ............................ 1 01 .2 6 2
B o s t o n _____________________ 102.91
B lak e B ro s. & C o ., B o s t o n . -1 0 0 .4 0
E . H . R o llin s & S o n s . B o s t - -1 0 2 .5 3
C. H. Clipper, Village Clerk, for $2,500 5 % electric-light
A d a m s & C o ., B o s t o n -------------102.511
bonds. Denomination $500. Date Sept. 1 1907. Interest
Maturity on Aug. 1 as follows: $1,000 yearly from 1908 annually at place designated by purchaser. Maturity $500
to 1912 inclusive and $5,000 yearly from 1913 to 1922 in­ yearly on Sept. 1 from 1909 to 1913 inclusive. Certified
clusive.
check (or cash) for 2 % of amount of bid is required. Bonded
Temporary Loan.— On the same day (July 27) the $50,000 debt at present $900. Assessed valuation 1907, $296,000.
temporary loan notes described in V. 85, p. 241, and ma­ Bonds are coupon in form and are exempt from taxation.
turing Oct. 1 1907, were awarded to Brown Bros. & Co. of
St. George Special School District No. 5 (P. O. St. George),
f
Boston at 4.875% . Following are the bids:
Dorchester County, So. Car.— Bond Sale.— On July 25 the
B ro w n B ros. & C o ., B o s t o n . .4 .8 7 5 % H u n t , M a n n & S a lto n s ta ll,
B o s t o n .................... ................... 5 .5 0 %
L o r in g , T o lm a n & T u p p c r ,
$7,000 6 % 20-year coupon school-building bonds described
G e o rg e H . B u rr & C o ., B o s t . 5 .9 5 %
B o s t o n ______________________
in V. 85, p. 242, were awarded to J. L. Barringer of Florence
B la k e B ro s. & C o ., B o s t o n - . 5 .3 7 %
A bid for $105,470 (100.447) was submitted by W m . A. at par. This was the only bid received.
Salisbury, Rowan County, No. Car.— Bond Election.— On
Read & Co. of Boston for both issues.
Pottawatamie County (P. 0 . Council Bluffs), Iowa.— Oct. 1 a proposition to issue $300,000 5 % 30-year municipal
Bond Offering.— Proposals will be received until 9 a. m. improvement bonds will be submitted to a vote of the people.
Aug. 21 by the Board of County Supervisors for $21,637 80 Denomination $1,000.
Santa Ana School District (P. O. Santa Ana), Orange
(or such less amount as may be equal to the special tax in
the district remaining unpaid on said date) 6 % Pigeon County, Cal.— Bond Election.— On Sept. 25 the propositions
Creek Drainage District bonds. Date July 1 1907. Interest to issue the $37,500 public-school and the $12,500 highsemi-annual. Maturity $2,500 yearlf on July 1 beginning school-land bonds, which were defeated at the election held
1912. Certified check for $250 is required. Purchaser to July 12 (V. 85, p. 179), will again be submitted to a vote of
the people.
pay accrued interest. W . C. Cheyne is County Auditor
Sauk Rapids, Benton County, Minn.— Bond Sale.— On
Preble County (P. O. Eaton), Ohio.— Bond Sale.— This
July 27 the $25,000 20-year water-works bonds described
county on July 27 disposed of the following bonds:
in V. 85, p. 179, were awarded to F. E. McGraw of St. Paul
$4 800 4 % C o u n ty D itch N o . 242 b o n d s t o th e P re b le C o u n ty N a tion a l
B a n k fo r $ 4 ,8 0 4 — th e p rice th u s b e in g 1 0 0 .0 8 3 .
D e n o m in a ­
at par for 6s.
tio n $800.
568 4 % C o u n ty D itc h N o . 260 b o n d s t o O . M . W ils o n o f F a lrh a v e n fo r
Schenectady, Schenectady County, N. Y .— Bonds Pro­
$572— th e p rice th u s b e in g 1 0 0 .7 0 4 .
D e n o m in a tio n $14 2.
posed.— The Common Council has adopted a resolution pro­
Interest February and August.
viding for the submission to the legislature of a bill author­
Pulaski County (P. O. Somerset), K y.— Bond Election.— izing the city to issue $75,000 bonds for the erection of a
An election will be held Nov. 5 to vote on the question of garbage-disposal-plant and $125,000 bonds for the purchase
of a park or parks.
issuing $200,000 turnpike-building bonds.




A

ug

303

THE CHRONICLE.

. 3 1907.J

Scipio Township, Seneca County, Ohio.— Bond Offering.—
Proposals will be received until 12 m. Aug. 17 by D. D.
Hilsinger, Township Clerk (P. O. Republic), for $15,000
coupon road-improvement bonds. Authority Section
8050, Revised Statutes. Denomination $500. Date Sept.
2 1907. Interest semi-annually at the Republic Banking
Co. of Republic. • Maturity $1,000 each six months from
Sept. 2 1913 to Sept. 2 1920 inclusive. Certified check for
5 % of bid is required.
Seattle, King County, W ash.— Bond Election.— An elect­
ion Will be held Aug. 20 to vote on the question of issuing
$75,000 5 % 20-year warrant funding bonds. Interest semi­
annual .
Seward, Seward County, Neb.— Bond Sale.— This city
recently awarded $15,000 43^% 5-20-year (optional) re­
funding railroad-aid bonds to local investors at par. De­
nomination $1,000. Date July 1 1907. Interest annual.
Shelby, Cleveland County, No. Caro.— Bond Offering.—
Proposals will be received until 8 p. m. Sept. 2 by Ryburn
& Hoey, City Attorneys, for $100,000 coupon water-works
and sewerage bonds at not exceeding 5 % interest. Au­
thority Act of General Assembly 1907. Denomination $1,000. Date Oct. 1 1907. Interest semi-annually at the
Town Treasurer’s office. Maturity “ not less than 30 years
nor more than 50 years.” Certified check for 2 % of bonds
bid for, payable to the Town Treasurer, is required. Official
circvlar states that there is no litigation pending or threat­
ened and that the town has never defaulted in the payment
of any of its obligations. Bonded debt, not including this
issue, $35,000. These securities are part of the $115,000
bonds mentioned in V. 84, p. 1015.
Shelby County (P. O. Sidney), Ohio.— Bond Sale.— This
county recently awarded, it is stated, an issue of $19,000
4J^% ditch-improvement bonds to the Citizens National
Bank of Sidney at par.
Sheridan School District No. 7 (P. O. Sheridan), Sheridan
County, W yo.— Bond Sale.— On July 16 $10,000 5 % schoolbuilding and furnishing bonds were awarded to the State of
Wyoming at 101. Denomination $1,000. Date July 1 1907.
Interest semi-annual. Maturity $1,000 yearly on Jan. 1
from|1910 to 1919 inclusive.
N E W

Sheyenne School District (P. O. Sheyenne), Eddy County,
No. Dak.— Bonds Voted.— This district recently authorized
the issuance of $15,000 school bonds. These securities, we
are informed, will be taken by the State.
Shickley School District (P. O. Shickley), Fillmore
County, Neb.— Bond Sale.— On July 20 an issue of $10,000
5 % 9^-y ear (average) school bonds was awarded to W . E.
Barkley Jr., President of the Lincoln Safe Deposit & Trust
Co. of Lincoln, at par. Interest annual.
Shreveport, Caddo Parish, La.— Bond Sale.— This city
has awarded the $75,000 4 % 40-year coupon city-liall bonds
offered without success on June 11 (V. 85, p. 1506) to the
Commercial National Bank of Shreveport at par, the city
allowing $3,000 commission and $200 attorneys’ fees. The
bank agrees to pay the city 4 % interest on the portion of the
money remaining on deposit. We are informed that about
$18,000 of the $40,000 4 % 40-year coupon park-purchase
bonds will be taken by the owners of the park land and that
the balance will be disposed of as the money is needed.
Skamania County School District No. 20, W ash.— Bond
Sale.— On July 20 $1,000 5 % 2-20-year (optional) gold
school-house bonds were awarded to the State Board of
Finance at par. Interest annual.
Sumter School District (P. O. Sumter), Sumter County,
So. Car.— Bond Sale.— On July 6 the $30,000 20-year coupon
school-building bonds offered without success as 4J^s on
July 1 (V. 85, p. 59) were awarded to W . R. Todd & Co. of
Cincinnati at par for 5s.
Sunnyvale School District, Santa Clara County, Cal.—
Bond Sale.— On July 22 the $11,000 5 % 2-12-year (serial)
gold coupon school bonds described in V. 85, p. 179, were
awarded to the Bank of Sunnyvale at 102.025 and accrued
interest. A bid was also received from the Los Angeles
Trust Co. of Los Angeles for $11,100, or 100.909.
Tecumseh, Johnson County, Neb.— Bond Offering.— Pro­
posals will be received until 4 p . m . Aug. 6 by Frank L. Dinsmore, City Clerk, for the $16,000 5 % electric-light-plantconstruction bonds voted on July 9. Interest semi-annually
at the fiscal agency of Tecumseh in New York City. Ma­
turity twenty years, subject to call after five years.
N E W

L O A N S .

$

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T o b e S o ld M o n d a y , A u g u s t 1 2 ,1 9 0 7
At 2 o’clock P. M.
AS FOLLOWS :

$13,000,000 Corporate Stock, Payable May 1, 1957
2,000,000 Assessment Bonds, Payable May 1,1917
EXEMPT FROM TAXATION, EXCEPT FOR STATE PURPOSES

THESE
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S en d b id s in a s e a le d e n v e lo p e , e n c lo s e d in th e a d d r e s s e d e n v e lo p e .
A D E P O S IT OF
T W O P E R C E N T . O F P A R V A L U E M U ST A C C O M P A N Y B ID .
Such d e p o s it m u s t be in
m o n e y o r c e r tifie d c h e c k u p o n a s o lv e n t B a n k in g C o r p o r a t io n . F o r f u ll e r i n fo r m a t io n see
“ C it y R e c o r d ,” p u b lis h e d at R o o m N o . 2, C it y H a ll, N e w Y o r k .

Consult any Bank or Trust Company, or address

6

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L O A N S

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S e a le d p r o p o s a ls are I n v ite d fo r th e p u r c h a s e o f
th e w h o le o r a n y p o r t io n o f an issu e o f 5 3 6 ,0 0 0 in
0 4 p e r c e n t b o n d s o f t h e C ity o f B u r lin g t o n , N .J . ,
in d e n o m in a tio n o f $500 e a c h , d a t e d J u ly 1, 1 9 0 7 ,
p a y a b le J u ly 1, 1 9 3 7 , w ith s e m i-a n n u a l in te re st
c o u p o n s a t t a c h e d a n d c o n t a in in g a S in k in g F u n d
p r o v is io n .
B id d e r s w ill s ta te th e p r ic e in w o r d s a n d in fig ­
u res t h e y o ffe r fo r e a ch b o n d In d o lla rs a n d c e n t s ,
t o w h ic h w ill b e a d d e d a c c r u e d In terest fr o m J u ly
1, 1 93 7, t o d a te o f d e liv e r y .
T h e r e c o r d o f th e p r o c e e d in g s a u th o r iz in g th e
issu e m a y be in s p e c te d u p o n a p p lic a t io n t o th e
C ity C lerk , a n d c o p ie s o f t h e O rd in a n c e w ill b e
fu rn ish e d u p o n r e q u e s t t o h im , b u t th e c it y w ill
n o t fu rn ish a t Its e x p e n s e a n y c o p ie s o f th e r e c o r d
e ith e r b e fo r e o r a ft e r th e a w a r d .
C o n d itio n a l
b id s w ill n o t b e c o n s id e r e d .
T h e rig h t is r eserv ed
t o r e je c t all o r a n y b id s r e c e iv e d , an d t o m a k e aw a rd as m a y b e t o t h e b e s t In terest o f th e c it y .
B id s m u s t b e a c c o m p a n ie d b y c e r tifie d c h e c k s
d r a w n o n a N a tio n a l B a n k fo r a t le a st t w o p e r
c e n t o f th e a m o u n t b id u p o n , t o b e fo r fe it e d In
th e e v e n t o f fa ilu re fo c o m p ly w ith th e term s o f
th e a w a r d , su ch c h e c k s t o b e m a d e t o th e o r d e r o f
t h e C ity T re a su re r.
K«J
P r o p o s a ls are t o b e a d d re s s e d t o t h e C o m m o n
C o u n c il, e n d o r s e d " P r o p o s a ls fo r B o n d s ,” and
file d w ith th e C ity C lerk a t o r p r io r t o e ig h t o ’ c lo c k
p . m ., o n T U E S D A Y , A U G U S T 6 t h , 1 9 0 7 , a t
w h ic h tim e t h e y w ill t>e p u b lic ly o p e n e d a n d rea d
In th e p r e s e n c e o f t h e C o m m o n C o u n c il a n d s u ch
o th e r s as m a y de sire t o b e p r e s e n t.
C. P A N C O A S T S M I T H ,
F R E D E R IC K P E T E R ,
G E O R G E W . S IS O M ,
F in a n ce C o m m itte e .
JO SH U A T A Y L O R ,
C ity T rea su rer.
' T H O M A S S . M O O N E Y , C ity C lerk.
D a t e d A u g u s t 1, 190 7.
M U N I C I P A L

A N D

R A I L R O A D

B O N D S .
LIST ON APPLICATION.

H E R M A N A. M E T Z, Comptroller City of New York SEASON GOOD & MATER,
280 B r o a d w a y ,

Mao Donald,McCoy & Co.,
M U N IC IP A L

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F a r n s w o r t h ,

PERLEY MORSE. P rei. I

BOSTON
CLK TK LAN D an 4 P H IL A D E L P H IA ,

H E N R Y C . D A V IS , S * c y .}

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N ew Y o r k .

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C e r tifie d

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T e le p h o n e 2280-8270 B ro a d

THE CHRONICLE.

304

[V o l .

lxxxv

.

Terre Haute School City (P. O. Terre Haute), Vigo County, on May 1 from 1918 to 1943 inclusive. Certified check for
Ind.— Bond Offering.— Proposals will be received until 10 5 % of bonds bid for, drawn on a State or national bank or
a. m. Aug. 10 by the Board of School Trustees, Adolph trust company and made payable to the “ Board of Educa­
Neukom, Secretary, for $200,000 4 % school funding bonds. tion,” is required. Arthur J. Prall is District Clerk. The
Authority an Act of the General Assembly approved March bonds will be approved by Adrian D. Sullivan, Borough
12 1907. Denomination $1,000. Interest semi-annually Attorney, whose opinion as to their legality will be delivered
at the Terre Haute Trust Co. of Terre Haute. Maturity to purchasers. These securities were offered without suc­
$10,000 yearly on Sept. 1 from 1912 to 1931 inclusive. cess as 4s on July 8.
Bonds are exempt from taxation. Certified check for
Warren, Trumbull County, Ohio.— Bond Offering.— Pro­
$5,000 is required.
posals will be received until 12 m. Aug. 19 by Chas. B.
Troy, Rensselaer County, N. Y .— Revenue Bond Sale.— On Selby, City Auditor, for the following bonds, mention of
July 29 $100,000 revenue bonds were awarded to the Troy which was made in V. 85 p. 181:
Savings Bank of Troy at par for 4s. Maturity Oct. 19 1907.
5380 5 % c o u p o n E lm Street Im p r o v e m e n t ( c i t y ’ s p o r tio n ) b o n d s .
% c o u p o n N o rth T o d A v e n u e im p r o v e m e n t (c lt y s p o r t io n ) b o n d s .
Union City, Erie County, Pa.— Bonds Voted.— The election 2,7 2905 55 %
c o u p o n W o o d la n d A v e n u e im p ro v e m e n t ( c i t y ’s p o r t io n ) b o n d s .
held June 18 resulted in favor of the proposition to issue the
535 5 % c o u p o n N o rth A v e n u e I m p r o v e m e n t (c it y 's p o r t io n ) b o n d s .
fire protection bonds mentioned in V. 84, p. 1266.
Denomination $500, except one bond for $230. Date
Utica, Oneida County, N. Y .— Bond Sale Again Postponed. July 1 1907. Interest March 1 and Sept. 1 at the office of
— The sale of the $152,500 school-building and the $100,000 the Sinking Fund Trustees in Warren. Maturity $500 each
delinquent tax 4 % registered bonds which was to have taken six months from March 1 1909 to March 1 1912 inclusive and
place July 29 (V. 85, p. 180) was again postponed, proposals $230 on Sept. 1 1912. Delivery of bonds Aug. 24. Pur­
begin received, this time until 2.30 p. m. yesterday, Aug. 2. chaser to pay accrued interest.
Van Wert County (P. O. Van Wert), Ohio.— Bond Sale.—
Westfield, Chautauqua County, N. Y .— Bonds Voted.—
This county has awarded the $5,600 4 % coupon road- On July 20 this town, by a vote of 366 to 58, authorized the
improvement bonds offered on July 20 (V. 85, p. 180) to issuance of $35,000 bridge bonds. Details of bonds and
the People's Savings Bank of Van Wert at par.
date of offering not yet decided
Vermilion Parish Drainage District (P. O. Abbeville), La.
West Salem, La Crosse County, W is.— Bond Offering.-—
— Bond Election Postponed.— An election which was to have
been held July 17 to vote on the question of issuing $40,000 Proposals will be received until 8 p. m. Aug. 6 by S. W .
Sixth Ward Drainage District bonds has been postponed Brown, Village Clerk, for $3,000 5 % water-works bonds.
Date Oct. 1 1907. Interest annually on April 1 at West
indefinitely.
Salem, W is., or at Chicago, 111., at option of purchaser.
Victoria, Victoria County, Te x .— Bonds Voted.— This city Maturity $500 yearly on April 1 from 1915 to 1920 inclusive.
on July 15 authorized the issuance of $15,000 5 % 1-40-year Certified check for $150, payable to the Village Clerk, is re­
(optional) water bonds by a vote of 133 to 74. Date of sale quired. These bonds are part of an issue of $15,000, of
not yet determined.
which $12,000 were awarded on March 14 (V. 84, p . 830) to
MWallington School District (P. O. Rutherford), Bergen Rudolph Kleybolte & Co. of Chicago. Total debt, including
County, N. J.— Bond Offering.— Proposals will be received this issue, $16,000. Assessed valuation $600,000.
until 8 p. m. Aug. 9 by the Board of Education for $13,000
Wetaskiwin, Alta.— Debentures Not Sold.— No sale was
5 % coupon public-school-addition bonds. Denomination
$500. Date May 1 1907. Interest semi-annually at the made on July 2 of the four issues of 5 % debentures aggre­
Passaic National Bank of Passaic. Maturity $500 yearly gating $172,500, described in V. 84, p. 1448.
N E W
#

2

N E W

L O A N S .
5

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0

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SCHOOL DISTRICT No. 32,
H A R T S V I L L E ,

5% N O N - T A X A 8 L E

S .

R

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D A Y

B O N D S .

C X D 6 I1 S C S .

R ig h t reserved t o r e je c t a n y o r all b id s.
A d d res s all b id s t o “ B o a rd o f T ru ste e s S c h o o l
D is t r ic t N o . 3 2 , H a r ts v llle , S. C . , ” a n d en d o rse
p la in ly o n th e e n v e lo p e th e w o rd s " B i d fo r b o n d s.
F o r 'fu r t h e r In form a tio n a p p ly t o th e C h a irm a n .
M . S M c K I N N O N , C h airm an .
J. E . M IL L E R . \
J . J . L A W T O N . / T ru stees.

C O M

A N H A T T A N

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37 W all Street.

BOSTON.

NEW Y0KK.

New York City Bonds
E X E M P T F B O II S T A T E , O O S N T I
AN D C IT Y T A X E S

M U N I C I P A L

JOHN

I.

M

P A N

W ATERBURY,

Y

President.

Vice-Presidents
JOHN KEAN,
AMOS T. FRENCH,
W . N. DUANE,
CHARLES H. STOUT.
The Manhattan Trust Company re­
ceives deposits bearing interest and sub­
ject to cheque, payable through the
New York Clearing House.
D IR E C T O R S

AN D

Public Service Corporation
BONDS.
E . H

C O

W a l l S t ., c o r . N a s ia n , N e w Y o r k

85 Congress Street,

R O L L I N S

&

S O N S .

BOSTON

Denver.
&

M
C O ..
T R

C .

C O U P O N

&

B A N K E R S .

S ealed p r o p o s a ls w ill b e re c e iv e d b y th e B o a rd
o f T ru stees o f S c h o o l D is trict N o . 32, e m b ra cin g ’
th e to w n o f H a r ts v llle , S . C -, u n til 12 o ’ c lo c k
n o o n o f th e 2 0 th d a y o f S e p te m b e r 1907 fo r th e
p u rch a s e o f T w e n t y -F iv e T h o u s a n d
D olla rs
fiv e p e r c e n t n on t a x a b le c o u p o n b o n d s , t o be
d a t e d J u ly 1st, 1 90 7, a n d p a y a b le 20 yea rs a fte r
d a te.
In teres t p a y a b le J a n u a r y t h e 1st a n d
J u ly th e 1st o f ea ch y e a r a t th e B a n k o f H a r ts ­
v llle , H a r tsv llle , S. C . T h e p u rp o s e o f this
Issue o f b o n d s Is t o m e e t th e c o s t o f c o n s tr u c tin g
an d e q u ip p in g a n ew s c h o o l b u ild in g In th e said
to w n fo r th e use o f th e said s c h o o l d is tric t.
C ertified c h e c k fo r 8 1 ,0 0 0 00, p a y a b le t o th e
or d e r o f M . S. M c K in n o n , C h a irm a n , t o a c c o m ­
p a n y all b id s an d t o be fo rfe ite d In case o f failure
o f p u rch a ser t o c o m p ly w ith his b id .
N o b id s fo r
less th a n p a r an d a c c r u e d Interest w ill b e c o n ­
sid e r e d , an d ea ch b id m u st Inclu de e x p e n s e s o f
lith o g r a p h in g an d Issuance o f b o n d s an d all o th e r

E R V I N

M I S C E L L A N E O U S .

L O A N S .

Coicage.

San Francisco

Francis R. Appleton
James J. Hill
Robert Bacon
John Kean
George F. Baker
John J. Mitchell
August Belmont
E. D. Randolph
Walter P. Bliss
Grant B. Schley
H W . Cannon
S. L. Schoonmaker
R. J. Cross
John I. Waterbury
Rudulph Ellis
Amos Tuck French R T. Wilson

P A N Y ,

New Issue
B A N K E R S .

P e r r y ,

C o ffin

&

B u r r ,

^New York Stock E xchange,
em era ^
Stock Exchange.
I N V E S T M E N T
BONDS

FO R

B .

S H E R M

M U N IC IP A L

A N

BONDS

and
La

S alle

&




M

C o .,

-

ana

NKW Y O R K

and

H ig h -G r a d e

I N T E R C H A N G E A B L E
or

R e g i s t e r e d

Tax

B o n d s

Exem pt,

T. W. STEPHENS <fe 00.,
2 W A L L ST., NEW YORK

S tre e t,
B lo tig c t,

u n ic ip a l,

C o u n t y ,

B R A U N ,

Y ork
B an k , T m it
F ir e I n m r a n e e S to c k s

4 3 E x ch a n g e P la ce

W a ln a t

&

C IN C IN N A T I, O.

S tr e e t, C H I C A G O

P R I M R O S E

N ew

409

C I T Y

M ATU RIN G M AY, 1957

C O .
K le y b o lt c

Y O R K

Gold,

BOSTON

A lb e r t

)

CORFOKATION )
2 0 5

&

4 %

C o u p o n '

SO State Street,

Drexel B uilding,
Philadelphia.

43 Exchange Place,
N«-w York

F .

B O N D S

IW T E S T M E N T

N E W

S t a t e ,
P u b lic

M e r r itt

6c

C o

,

BANKERS,
S e r v ic e

6 0

S ta te

S tr e e t,

B o s t o n

S « N A SSAU S T R E E T , MEW V O K .K .

'S e c u r i t i e s
2 2 . C o rre sp o n d e n ce Solicited

STATE, C IT I ft RAILROAD

BONDS.

A

ug.

THE CHRONICLE.

3 1 9 0 7 .j

Wheelersburg Special School District (P. O. Wheelersburg, Scioto County, Ohio.— Bond Offering.— Proposals will
be received until 12 m. Sept. 2 by the Board of Education,
J. B. Fullerton, Clerk, for $10,000 4 % school-house-enlargement bonds. Interest semi-annual.
White Plains, Westchester County, N. Y .— Bond Offering.
— Proposals will be received until 8 p. m. Aug. 19 by the
Board of Trustees, John J. Brown, President, for the follow­
ing bonds:
5 1 9 ,0 0 0 4 y2 % fu n d in g b o n d s .
A u th o r it y C h a p te r 616 , L a w s o f 190 3.
M a tu r ity A u g . 1 1937.
2 0 ,0 0 0 4 % m a c a d a m b o n d s
A u t h o r it y C h a p te r 8 0 , L a w s 1 90 6. M a­
ui
t u r it y $ 5 ,000 o n A u g . 1 e a ch o f th e y e a rs 193 0, 194 0, 1941
a n d 1942.
9 .0 0 0 4 % sew er b o n d s . A u th o r it y C h a p te r 609 . L a w s 188 7. M a tu r ity
A u g . 1 1937.
9 .0 0 0 4 % sew er re fu n d in g b o n d s . A u th o r it y C h a p te r 609 , L a w s 1887.
M a tu rity A u g . 1 1937.

Denomination $1,000. Date Aug. 1 1907. Interest semi­
annual. Certified check on a State or national bank or trust
company for 5 % of bonds bid for, is required. Peter Paul­
ding is Clerk of Board of Trustees.
Wichita, Sedgwick County, Kan.— Bond Sale.— This city
has awarded $17,000 5 % 20-year bonds dated May 1 1907
to Spitzer & Co. of Toledo at par. Denomination $1,000.
Interest semi-annual.
Woodsfield, Monroe County, Ohio.— Bond Sale.— On July
29 the $7,780 52 5 % Market or Marietta Street improvement
assessment bonds described in V. 85, p. 120, were awarded
to the Security Savings Bank & Trust Co. of Toledo at 102.39
and accrued interest. Following are the bids:
S e c u r ity S a v in gs B a n k &
IW e il, R o t h & C o ., C i n c i n ..$ 7 ,9 4 4 52
T r u s t C o ., T o l e d o _______ $7,9 6 6 52 S. A . K e a n , C h ic a g o ----------- 7,881 66
H a y d e n , M iller & C o ., C le v . 7,9 6 2 52 |N e w F irst N a t . B k .. C o lu m . 7 ,8 6 6 52

Maturity $389 03 each six months from March 1 1908 to
Sept. 1 1917 inclusive.
Woonsocket, Providence County, R. I .— Bond Sale.— On
July 19 $200,000 4
20-year funding bonds were awarded
to Blodget, Merritt & Co. of Boston at 102.19 and accrued
interest— a basis of about 4.336% . Denomination $1,000.
Date June 1 1907. Interest semi-annual. These securities

were offered as 4s on June 24; all bids received on that day
being rejected.
Wyandot County (P. O. Upper Sandusky), Ohio.— Bond
Offering.— Proposals will be received until 12 m. Aug. 13
by J. N. Traxler, County Auditor, for $4,800 5 % roadimprovement bonds. Authority an Act of the General
Assembly passed April 4 1900. Denomination $480. Date
July 1 1907. Interest semi-annually at the County Treas­
urer’s office. Maturity $960 yearly on Jan. 1 from 1909 to
1913 inclusive. Certified check (or cash) for $300 isjrequired.
Yonkers Union Free School District (P. 0 . Yonkers),
Westchester County, N. Y .— Bond Offering.— Proposals will
be received until 8 p. m. Aug. 5 by J. H. Claxton, Secretary
Board of Education, for $60,000 4 ^ % registered school
bonds. Authority Chapter 543, Laws of 1899. Date Aug. 1
1907. Interest April 1 and Oct. 1. Maturity $10,000
yearly on April 1 from 1951 to 1956 inclusive. Certified
check for 5 % of bonds bid for, payable to the Treasurer of
the Board of Education, is required. Purchaser to pay
accrued interest. Delivery of bonds Aug. 15.
Youngstown, Ohio.— Bond Sale.— The following bids
were received on July 29 for the seven issues of 5 % paving
and sewer bonds, aggregating $34,740, described in V. 85,
p. 120.
$ 7 ,000
$ 3 ,7 3 0
$ 10 ,885
$ 6 ,545
F ed eral S t. M a rk et St. & E d w ardsS t. C rossm a n A v
sew er
S t. L o u is A v e .
pa vin g
pavin g
bonds.
bonds.
bonds.
bonds.
H a y d e n ,M ille r & C o .,C le v .a $ 7 ,117 50 a $ 3 ,7 9 2 00 a $ l l ,0 6 7 00 a $ 6 ,6 5 4 00
D e n is o n & F a r n s w o r th .C le . 7,1 1 7 00
.............
11,065 00
S e a s o n g o o d & M a y e r, C in. 7,1 0 7 10
_______
11,051 54
6,6 4 5 13
B reed & H a rriso n , C in c__
7,1 0 5 00
_______
1 1 ,0 4 8 ,3 0
6 ,6 4 3 18
_______
10,9 9 7 00
6,6 1 2 50
W e il, R o t h & C o ., C i n e ..
7,071 50
O tis & H o u g h , C le v e la n d . 7,071 00
_______
10,995 00
N e w F ir s t N a t .B k .,C o lu m . 7,0 4 3 00
3,750 00
10,955 00
6 ,5 8 0 00
H o e h le r & C u m m in g s ,T o l.
_______
_______
11,056 50
..
$1,7 0 0
$2,2 8 0
$ 2 ,600
H illm a n S t. H illm a n S t. M y r tle A v e
Sew er N o . 1 S ew er N o . 2
sew er
bonds.
bonds.
bond s.
W m . W ir t , Y o u n g s t o w n _______ _______ a $ l,7 2 4 50
a $ 2 ,3 1 2 87
H a y d e n , M iller & C o ., C le v e la n d ____
1,718 75
2,305 25
a $ 2 ,628175
N e w F irst N a tio n a l B a n k , C o l u m b u s ..
1,071 00
2,2 8 2 00
2,6 0 2 25
a S u cce ssfu l b id d e r s .

M I S C E L L A N E O U S .

M I S C E L L A N E O U S .

C asuV plluT $ 12 , 0 0 0 , 0 0 0

T

it l e

a n d

305

O F F IC E

OF

TH E

g u a r a n t e e

T R U S T

c

o

m

p

a

176 Broadway, New York.
175 Remsen Street, Brooklyn.
198 Montague Street, Brooklyn Banking

n

y

A T LA N T IC

M U T U A L IN SU R A N C E C O M P A N Y .
N e w Y o r k , J a n u a r y 2 2 d , 1907.

Dept.

Examines & guarantees Real 'Estate Title*,
Loans Money on Bond and Mortgage.
Furnishes Mortgages to Investors.
Mcceives Deposits subject to check, alloicinc
Interest.
Does all Trust Company Business.
FINANCE COMMITTEE.
In Charge o f Banking Interest*
KDW ARD T. BEDFORD.
CLAR EN CE H . K E L S E Y .
E D G A R L. M ARSTON.
W ILLIA M H . NICHOLS.
JAMES H. O L IP H A N T .
CH A R LE S A. P E A B O D Y .
JACOB H . SCH IFF.
JAMES S P E Y E R .
E D W A R D O. ST A N LE Y
CLARENCE H . K ELSEY . President.
FRAN K B A IL E Y , Vice President.
E D W A R D O. ST AN LE Y, Second Vice President.
Manager Banking Department.
CLINTON D. BU R D ICK Third Vice President.
J . W R A Y CLEVELAN D, Secretary.
ARTH U R TE R R Y , Treasurer.
FR AN K L. SN1FFEN Manager Brooklyn Banking
Department.

T le T rustees, in co n fo rm ity w ith the C harter o f the C o m p a n y , subm it the follow in g statem ent o f its a ffa irs
on the 31s* o f D ecem b er, 190 6.
P re m iu m s o n M arin e R isk s fro m 1st J a n u a r y , 1 90 6, t o 31st D e c e m b e r , 1 9 0 6 _______
P re m iu m s o n P o licie s n o t m a rk e d o ff 1st J a n u a r y , 1 9 0 6 _______________________________

§3 ,1 9 0 ,2 4 1 67
582 ,1 9 1 98

T o t a l M arin e P re m iu m s _____________________________________________________________________

$ 3 ,7 7 2 ,4 3 3 65

P rem iu m s m a rk ed o ff fro m 1st J a n u a ry , 1 90 6, t o 31st D e ce m b e r , 1 9 0 6 .......................
I n te r e s t re c e iv e d d u rin g th e y t a r ___________________________ $ 3 5 6,45 7 98
R e n t, less T a x e s a n d E x p e n s e s ______________________________ 125,501 85
$ 4 8 1 ,9 5 9 83

$ 3 ,0 8 1 ,7 1 4 32

L osses p a id d u rin g th e y e a r w h ich w ere e stim a ted in 1905
a n d p re v io u s y e a r s _______ ______ __________ ______ ______ $ 3 0 9 ,8 1 7 14
L osses o c c u r r e d , e s tim a te d a n d p a id in 1 90 6______________1 ,0 0 9 ,2 2 4 32 $ 1 ,3 1 9 ,0 4 1 46
L ess S a lv a g e s _______________________ $ 10 7 ,1 7 6 57
R e -in s u r a n c e s ______________________ 1 5 0 ,1 9 0 74

25 7 ,3 6 7 31
$ 1 ,0 6 1 ,6 7 4 15

R e tu rn s o f P r e m iu m s ________________________________________________________
$62 ,411 11
E x p e n se s, In clu d in g o ffic e r s ’ salaries a n d cle rk s’ co m p e n s a tio n , s ta ­
tio n e ry , n ew sp a p ers, a d v e rtis e m e n ts , e t c .................................................... $ 3 4 4 ,0 9 8 27
T h e C o m p a n y has th e fo llo w in g A ssets, v iz .:
U n ited S tates a n d S ta te o f N ew Y o r k S to c k , C ity , B a n k a n d o th e r S e cu ritie s ______
S p e cia l d e p o s its in B a n ks a n d T ru s t C o m p a n ie s ............................... _ .........................................
R ea l E sta te co rn e r W a ll a n d W illia m S ts ., a n d E x ch a n g e P la c e _____ $ 4 ,2 9 9 ,0 0 0 00
O th e r R e a l E s ta te a n d cla im s d u e th e C o m p a n y ________________________
7 5 ,0 0 0 00

$ 5 ,6 9 7 ,1 0 8 00
7 0 0 ,9 6 6 67
4 ,3 ^ 4 ,0 0 0 00

P rem iu m n o te s an d B ills R e c e iv a b le ..................................... ....................... ......................................
Cash In han ds o f E u ro p e a n B a n k ers t o p a y losses u n d e r p o licie s p a y a b le in fo re ig n
c o u n t r ie s ________________________________________________________________________ _______
Cash in b a n k ___________________________________________________________ _____ __

1 ,1 9 1 ,9 7 4 88

A g g r e g a t i n g .........................................................................................................................................

$ 1 2 ,7 9 7 ,8 2 3 72

2 7 1 ,1 4 2 54
562 ,6 3 1 63

E s t a b lis h e d 1 S 8 3 .

H

.

C .

S p e e r

&

S o n s

C o .

First Nat. Bauk Building, Chicago
C IT Y
A N D

R O N H 9

C O U N T Y
T O W N S H IP

—

■

l

U

B O N D S

WITHOUT
C O U P O N S
w ith steei-plate border®. o r lithographed* o r part­
ly p rim ed from typ e. I f th e latter, th e e can be

D E L IV E R E D

IN F E W

DAYS

C ertificates en gra ve d in best m anner, o r partly
lith ograp h ed and partly p rinted
A L B E R T B . K I N G & CO ., 8 0 6 B r o a d w a y , H . I

Atlantic Mutual Insurance Com
of All Years Bought and

J O H N M. G IL L E S P IE ,
Room No. 518 Atlantic Building,
49-51 .Walk Street.n m m NEW YORK.




A dividend o f Six per cent Interest on the outstanding certificates of profits will be paid to the
*tolders thereof, or their legal representative!?, on and after T u e sd a y the F ifth of F eb ru a ry next.
T h e o u ts ta n d in g certifica tes o f th e issue o f 1901 w ill b e re d e e m e d a n d p a id to th e h old ers th e r e o f,
o r th e ir legal rep re se n ta tiv e s, on a n d a fte r T u e sd a y th e fifth o f F eb ru a ry n e x t, fro m w h ich date
all Interest th ereon w ill cea se.
T h e certifica tes t o b e p r o d u c e d a t th e tim e o f p a y m e n t , a n d ca n ce le d
A d iv id e n d o f F o r ty p er ce n t is d ecla red o n th e n et earn ed p re m iu m s o f th e C o m p a n y fo r th e
y ea r en d in g 3 1st D e ce m b e r, 190 6, fo r w h ic h , u p o n a p p lic a tio n , certifica tes w ill b e Issued o n and
a fte r T u e sd a y th e s e v e n tn o f M ay n e x t.
B y o rd e r o f the B o a rd ,
Q. ST A N TO N F L O Y D -J O N E S . S ecreta ry .
G U S T A V A M S IN C K ,
F R A N C I S M. B A C O N ,
JO H N N . B E A C H ,
W IL L IA M B. B O U L T O N ,
VERN O N H. BROW N ,
W A L D R O N P. B R O W N ,
JO SEPH H . CH APM AN ,
G E O R G E C. C L A R K ,
C L E V E L A N D H. D O D G E ,
C O R N E L IU S E L D E R T ,
R IC H A R D H . E W A R T ,

TRU STEES.
H E R B E R T L . G R IG G S ,
C L E M E N T A . G R IS C O M .
AN SO N W . H A R D .
M O R R IS K . JE S U P ,
L E W IS CASS L E D Y A R D ,
F R A N C IS H . L E G G E T T ,
C H 4 R L E S D. L E V E R IC H ,
L E A .N D E R N . L O V E L L ,
GEO RG E H. M \CY.
CH ARLES H. M ARSH ALL,

A.

vtf. H . K . M O u u E ,
N IC H O L A S F . P A L M E R .
H E N R Y P A R IS H ,
D A L L A S B. P R A T T ,
G E O R G E W . Q U IN T A R D ,
A. A. R A V E N ,
JO H N L. R I K E R ,
D O U G L A S R O B IN S O N .
GU STAV H. SCH W AB,
W IL L IA M A . S T R E E T .

RAVEN. President.

C O R N E L I U S K T .n u D T . V ice-P resid en t.
,T4 MT^q t „ U v r v Q S T O N , M V ice-P resid en t.
S 4 N F O P T 1 E . C O ^ B , 3 d V ice-P resid en t.
C H A R L E S E . F A Y , 4th V ice-P resid en t.

306

THE CHRONICLE.

[V o l .

lxxxv

.

Trust Companies.
M e r c a n tile T r u s t C o. C I T Y
St. Louis, Mo
M em ber

S t. L ou is

Clearing’ H o u se

A s s o c ia tio n

Capital and Surplus, $9,500,000
F E S T U S J. W A D E .
P resid en t.

W M . M A F F IT T ,
T reasu rer

Commenced business Nov. 16, 1899
RESOURCES

N o v .16,1899
$1,667,051 19
Nov. 16, 1900
$4,429,448 02
N o v .16, 1901
$11,780,418 95
Nov.

16,

1902
$21,882,734 64

Nov.16,1903 §21,756,471 73
Nov. 16,1904 $26,508,716 93
Nov. 16, 1905

$27,292,163 57

Nov. 16, 1906, $27,984,599 63
The Proof of Good Service is Constant Growth

CENTRAL
TRU ST COM PANY
O F IL L IN O IS,
CHICAGO

Capital, - - - Surplus and Profits

-

BANKING, SAVINGS AND
DEPARTMENTS.

C ity

Capital & Surplus, -

- $4,000,000

T ra n sa cts a General T ru st and
B a n k in g B u sin ess
In te re st A llo w e d on D e p o s its S u b je c t to CheckA cts as T ru stee under R a ilroad and o th e r M ort­
g a g e s ; also as A g e n t fo r the R e g is te rin g
and T ran sfer o f Stock.
A legal D e p o s ita r y fo r C o u rt F u n d s , and a u th o r ­
ized t o a c t as E x e c u to r , G u a rd ia n , A d ­
m in is tra to r a n d T ru stee.
D IR E C T O R S .
P H I L I P S T O C K T O N , P residen t.
Charles F . A d a m s 2d.
G e o rg e E . K e ith ,
O rla n d o H . A lfo r d .
G ardin er M . Lane.
F . L o th r o p A m es.
A r th u r L y m a n ,
J o h n S. B a rtle tt,
M axw ell N orm a n ,
Charles E . C ottin g.
R o b e r t T . P a in e 2d,
A lv a h C ro ck e r,
A n d r e w W . Preston.
L iv in g s to n Cushing.
R ic h a r d S. R ussell
G eorg e A . D ra per.
H o w a r d S to ck to n .
W illia m F . D raper.
Charles A . S ton e,
W ilm o t R . E v an s.
G alen N . S to n e ,
F red erick P . Fish,
Q u in cy A . S haw J r .,
R o b e r t F . H e rrick .
N a th an iel T h a y e r,
F ran cis L. H lg g ln s o n ,
H e n ry O . U n d e rw o o d ,
H e n ry C. J ack son ,
W . Sew ard W ebb.
S id n e y W . W in slo w .

B o s to n S a fe D e p o sit
AND

B O SIO iN

Al A b a

Acts as Trustee under Railroad and other
Mortgages and is authorized to act as Executor.
Quardian, Administrator and Trustee.

Capital - - - Surplus (Eamecl)

$1,000,000
2,000,000

TRUST
C H A R L E S E , R O G E R S O N , P re sid e n t.
J A M E S L O N G L E Y , V ic e -P r e s id e n t.
W I L L I A M C. W I L L I A M S , V ic e -P r e s ’t .
G . E . G O O D S P E E D , T re a su re r.
W . L . W H I T N E Y . A s s t. T reasu rer.
H E N R Y A . F E N N , S e c. & M g r.S afe D . D ’t.
H . D . H E A T H F I E L D , A ssista n t S ec.
F . J. B U R R A G E , A ssista n t S e cre ta ry .

Com pany,

C H A R T E R E D 1836.
A c ts as E x e cu to r , A d m in is tra to r , T ru ste e ,
A ss ig n e e a n d R e ce iv e r.
F inan cial A g e n t fo r I n d iv id u a ls or
C o r p o r a tio n s .
In terest A llo w e d on In d iv id u a l and
C orp o ra tio n A c c o u n ts .
A c t s as T ru stee ot C o rp o ra tio n M o r tg a g e s .
D e p o sita r y u nd er P la n s o f R e o r g a n i2a tio n .
R eg istra r an d T ra n sfe r A g e n t.
A s su m e s en tire ch a r g e o f R eal E s ta te .
S afes to R en t in B u rg la r -P r o o f V a u lts.
E . B . M O R R I S , P re sid e n t.
W . N . E L Y , 1st V ice -P re s id e n t.
A . A . J A C K S O N , 2d V ice -P r e s id e n t.
C . J . R H O A D S , 3d V Ice-P res. a n d T reasurer.
E D W A R D S. P A G E , S ecre ta ry .
M AN AGERS:
E fflln g h a m B . M orris,
C. H a r tm a n K u h n ,
J o h n A . B row n Jr.
Jam es S p e y e r,
B e n ja m in W . R ich a rd s
A u g u s tu s D . J u llllard
J oh n B G a rrett,
E d w a rd J . B e rw ln d ,
W illia m H . Jenks.
R a n d a l M o rga n ,
W illia m H . G aw ,
E d w . T . S to te s b u r y ,
F ra n cis I . G o w en .
Charles E . In gersoll,
J o h n S to r y Jenk s J r.
G e o . H . M cF a d d e n ,
H e n r y T a tn a ll,
H e n ry B . C o x e Jr.
Issa c H . C loth ier.
E . C. F e lto n .
T h o s . D e W lt t C u y le r,

N E. Cor. Broad and Chestnut Streets,

PHILADELPHIA.

T h e T rust Com pany
of N o r th A m e ric a
503-50^-507 Chestnut St., Philadelphia.
C A P IT A L ...............................................$1,000,000
ADAM A. STU LL, President
H E N R Y Q. BR EN G LE , 1st Vtce-Pres. & Treasurer.
JOS. S. C L A R K , 2d Vlce-Pres., Superv'g Trust Dept.
CHAS. P . L IN E A W E A V E R , Sec. & Asst Trust Olflcer
DIRECTORS.
Henry G. Brengle,
J. Levering Jones,
James Crosby Brown, Malcolm Lloyd.
John Cadwalader.
John Mcllhenny.
E. W . Clark Jr.,
Richard Wain Melrs,
Eckley B . Coxe Jr.,
Clement B. Newbold,
Edwin S. Dixon,
John W. Pepper.
Eugene L . Ellison.
Wi 11am F. Read,
Joseph C. Fraley.
Frank Samuel,
Harry C. Francis,
Adam A. Stull,
Henry L. Gaw, Jr.,
Edward D . Toland,
Howard S. Graham,
Joseph R . Walnwright.
Samuel F. Houston,
William D. Wlnsor.

BOSTON, MASS.

Capital and Surplus,

= $7,000,000

T R A N S A C T S
A GENERAL
B A N K IN G
B U S IN E S S .
ALLOW S I N T E R E S T
ON
D A IL Y
B A LA N C ES
S U B JE C T
TO
CHECK.
TRUSTEE
U NDER M ORTGAG­
ES.
TRAN SFER
AGENT.
R E G IS T R A R .
B O A R D OF D IR E C T O R S :
T . JKFFEHSON COOLIDGE J R., - . . . C h airm an
G ord on A b b o tt,
H e n r y S. H o w e ,
O liv e r A m e s ,
W a lte r H u n n e w e ll,
C. W . A m o r y ,
T h om a s L .L iv e r m o re ,
C h arles F . A y e r ,
C h arles a* A lelien ,
Sam uel Carr,
G e o rg e v . L . M ey er,
B . P . C h en ey,
L a u r e n c e M in ot,
T . Jetterson C oolldge,
R ic h a r d O ln ey,
C h arles E. C ottin g,
R o b e r t J. P a in e, ? d .
P lu lip D e x te r ,
P h ilip L. S alton stall,
E b e n S. D raper,
N a th a n iel T h a y er,
F r e d e r ic k P . F is h ,
L u ciu s T u ttle.
R e g in a ld F o s te r,
S tep h en M . W eld ,
G e o rg e P G ard n er,
C h arles W . W h ittie r .
R o b e r t F. H e r r ic k ,

The N E W E N G L A N D
TRUST COM PANY,
BOSTON, MASS.

T rust Com pany

CAPITAL and SURPLUS,$10,000,000.




CO. O L D
C O L O N Y
B U N K E R H IL L B R A N C H :
T R U S T
C O .
S qu are, C H A R L E S T O W N . M A S S.
BO STON . MASS-

Transacts a General Trust and
Banking Business.
$2,000,000 Interest Allowed
on Deposits Subject to Check
900,000

CH ARLES G . D A W K a , President.
W . IR V IN G O SBO RN E, Vice-President.
A . U H R L A U B . Vice-President.
W ILLIA M R . D A W E S , C ashier."
L . D . S K IN N E R . Asst. Cashier.
W ILLIA M W . G ATE S, Aset. Cashier.
A . G . MANG, Secretary.
MALCOLM McDOW Jii,Lp Asst Secretary.

G irard T r u s t

TRU ST

50 S T A T E S T R E E T .

CAPITAL. $1,000,000 SURPLUS $2,000,000
Safe Deposit Vaults
Authorised to act as executor and to receive and
hold money or property in trust or on deposit from
Courts of Law or E quity, Executors. Administrators.
Assignees, Guardians, Trustees, Corporations and
Individuals.
Also acts as Trustee under Mortgages and as Transfer
Agent and Registrar of Stocks and Bonds.
Interest Allowed on Deposits Subject to Check.
OFFICERS.
D A VID R . W H IT N E Y , President.
CH ARLES H . D A L T O N , Vice-President.
CH ARLES F CH OATE. Vice-President.
FR A N K L IN H A V E N . Vice-President.
JAMES R . H O O P E R , Actuary.
H E N R Y N . M A R K , s e c r e ta r-.
F R E D K W . A L L E N . Asst .Sec A T reas.
THOMAS E . E A TO N , A sst. Treasurer.
FRAN CIS R . JE W E T T . Trust Olhcer
BOARD OF D IR E C rO R o
WUllam E ndlcott, Chairm an.
Walter 0. Baylies,
Frederick P . Fish,
Alfred Bowditch,
Morris Gray,
Charles F . Choate,
Franklin Haven,
Alexander Cochrane,
James P.. H ooper,
Kdmund D . Codman,
James M. Prendergast.
T. Jefferson Coolldge.
George S . Silsbee,
Charles H . Dalton.
Lawrence M. Stockton,
George Dexter.
Nathaniel Thayer,
Pbtllp Dexter.
George VVlsglesworth.
William Farnsworth.
David R . Whitney

Mississippi Valley Trust Cat
Fourth & Pine Sts., St. Louis
Kfw-j n n n

CAPITAL, SURPLUS

and P / J O F / r s / * ® ’ 0 0 0 *0 0 0 ,
G E N E R A L FIN AN CIA L AN D F ID U C IA R Y
BUSINESS TR AN SA CTE D

A

DIRECTORS
D . R . Francis
R . J. O 'Reilly,M D
August Gehner
Henry W . Peters
S. E. Hoffman
H. Clay Pierce
Chas. H. Huttig J. Ramsey Jr.
Breckln’ge Jones James E. Smith
W . J. McBride
R obt. H. Stockton
Nelson W. McLeod Julius S. Walsh
Saunders Norvell Rolla Wells
W m . D . Orthweln
OFFICERS
JU LIU S 8. W A L SH , Chairman o f the Board
B R E C K IN R ID G E JONES, President
JOHN D . D A V IS , Vice-President
SAM UEL E. HOFFM AN , Vice-President
JAMES E. BR O C K , Secretary
H U G H R. L Y L E , Asst. Secretary
H E N R Y O. IBBOTSON , Asst. Secretary
C. H UN T T U R N E R Jr., Asst. Secretary
LO U IS W . F R IC K E , Asst. Secretary
FR E D E R IC K V IE R LIN G , Trust Officer
H E N R Y SEM PLB AMES, Asst. Executive Officer
CH A RLE S M. P O L K . Asst. Trust Officer
W ILLIA M G. LA C K E Y , Bond Officer
WM. McC. M AR TIN , Asst. Bond Officer
TOM W . B E N N E TT, Real Estate Officer
GEO. K IN G SLA N D , Asst. Real Estate Officer
C. W . M OR ATH , Safe D eposit Officer

John I. Beggs
W ilbur F . Boyle
James E. Brock
Murray Carleton
Charles Clark
Horatio N. Davis
John D. Davis
Aug. B. Ewing

M a r y la n d 1 ru st C o .
BALTIMORE,

CAPITAL,

-

$ 2 ,0 0 0 ,0 0 0

D IR E C T O R S
Joslah L . B lack w ell.
G rier H ersh ,
G . C ly m er B ro o k e ,
G e o rg e C. Jenkins,
H . C arroll B row n ,
Jo sh u a L e v erin g ,
O scar G . M u rray,
J o h n W . C astles,
J o s e p h R . F o a rd ,
H e n r y F . S h oem a k er,
B . H o w e ll G risw old Jr
Jam es S p ey er,
A . B a rto n H e p b u rn ,
D ou gla s M . W y lie.
J o h n T . H ill,
L . S . Z im m e r m a n
O F F IC E R S
G R IE R
H E R S H ......................... P residen t
L . S. Z I M M E R M A N ____ 2d V ic e -P r e s t.
C A R R O L L V A N N E S S _______ T reasurer
J E R V I S S P E N C E R J r . . . A s s t . T reasu re
I V A N S K I N N E R _______ A sst. S ecreta ry

NOW R E A D Y .
W

T r u s
M ILW AUKEE.

i s c o n s i n

Capita’ ,
Surplus,

-

-

-

-

-

t

C o ,

$500,000
100,000

FINANCIAL REVIEW,
1907 ISSUE.
320

Pages.

Transacts a General Trust Co Business. A yearly book of statistics covering a
series of years’ crop figures, money
Buys and Sells
rates, range of prices for securities dto,
High Grade Investment Bonds.
OFFICERS.
O L IV E R C. F U L L E R , President.
F R E D E R IC K K ASTEN , Vice-President
G A R D N E R P . ST IC K N E Y . Treasurer.
F R E D . C. BEST. Secretary
R . L. SMITH. Asb’ i Secretary

PRICE, TWO DOLLARS.
Commercial & Financial Chronicle,
76J^ Pine Street, New York.