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ornmmia
Published every
VOL.97
AUGUST 9 1913
NO.2511
OLEABINOS—FOB JULY,
SINOE
BOF,1YBAUN
ENDING
AJ
AUGUST
July.
Seven Months.
Clearings at—
Int. or
1913.
New York
Philadelphia.
Pittsburgh
Baltimore
„
Buffalo
Washington........
Albany
Rochester.....
......
..........
Syracuse
Reading.
.....
.........
Wilmington.........
Wheeling
.......
Wllkes-Barre.
.
.....
Trenton....,.......
Harrisburg
York
Erie
......
Lancaster .......
Chester
...
.......
Greensburg
........ .
Bingham ton
Altoona
Beaver County,
Norrlstown
Franklin..
Pa..
...
Frederick.
.....
......
Montclalr
Total Middle...
included
56,135,851,583
ta
5.003,931,524
1,763,969,399
+ 1.3
1,179,695,741
358.136,708
241.010.951
195,952,812
153,268,863
—8.9
+3.5
+ 10.2
+9.4
+5.7
+ 13.5
—1.0
+5.8
+25.8
—6.1
+ 12.0
+6.3
+9.9
-11.0
.—3.5
21,354,608
19,516,470
21,130,300
17,156,354
16,619,619
14.469,873
+18.1
8,862,956
+16.7
--13.6
--13.3
+10.5
—5.8
680.825.018
760,321,833
36,923,200
22.443,558
14,335,645
11,485,286
Portland.........
35,119,400
22,610,934
15,170.671
12,375,159
9,588,231
—10.5
1.9
Worcester...
Fall River;
New Bedford.......
11.701,125
4,894,843
4.426,730
Boston.............
Providence.
Hartford;-.—.
New Haven...
........
Springfield.......
Lowell..
....
....
Total New England
Chicago.
.
.
.
.
,
.
.
.
,
Indianapolis
Toledo.
.......
.......
Dayton
......
Akron...........
Youngstown........
Canton............
7,999,335
6,873,965
4,600,028
5,958,590
4,173.192
2,963,616
3.204.637
3,022,265
3,655,409
2,753.448
3,353,227
2.204.638
2,208,490
2.551,833
1,788,181
2,286,007
2,127,311
2,444,564
1,508,069
1,811,387
1,674,833
918,829
Rockford...........
Lexington..........
Kalamazoo. .......
South Bend.
....
Springfield, Ohio....
Bloomington
Qulncy
Mansfield ........ ..
......
Danville. ..........
Jackson..^........,
.
Lima
Lansing
Decatur
Jacksonville, 111-..
Gary
...
Flint.
Ann Arbor..........
Lorain
.......
Adrian..
+15.7
+ 19.2
+ 15.1
+8.2
+ 10.6
39,426,329
29,956,910
28,864,408
48.342.789
17,891,465
18,074,474
18,605,100
15,111,697
14,868,873
13,822,277
7,101,785
+21.0
—4.5
+ 9.9
+4.6
11,227.799
10,655,328
9,865,000
7.827,420
+ 12.8
+ 19.5
—13.5
+22
+28.8
J ,330,983
,367,610
+5.3
+5.5
5,650,379
8,848,635
+8.4
3.956,273 —25.1
—4) .8
3,231,436
2,628,035
+ 15.0
2,740,631
+33.4
2,667,550
+3 2
3,020.980 + 11.0
1,983,700 + 11.1
1,914,922
+ 15.4
2.488.408
+2.5
—5.7
1,897,013
1,915,468
+ 19.4
>2,065,046
+3.0
1,996,506
+22.4
1,186,592 +27.1
1.312,476
+38.0
1,622,686
+32
914,293
+0.5
485,672
+25.7
151.094
+44.3
1,869,582,458
790,307
1,235,745
1,544,296
620,164
+8.7
+9.0
+ 19.4
+8.0
■
—2.9
148,713,342
51,462,483
36,070,463
11,362,979
6,777,120
6,067,528
4,565,772
+7.5
2,713,379
+4.2
+4.5
+ 1.1
2,829,903
1,378,352
1,541,326
151,382,636
47,293,257
28,826,850
11,193,471
6,668,929
6,284,606
4,238.081
2,631,539
2,622,511
1,449,999
1,615.105
+23.4
1,510,497
1,421,216
1,642,434
1,562,682
1,483,320
1,662,213
"""850",636
"""900*749
+ 1.1
+ 10.3
+ 19.6
—11.7
—3.3
847,785
1,215.595
+27.1
618,351
539,641
505,850
+0.3
—31.5
909,109
566,978
583,739
+ 3.9
570,500
479,760
+21.3
394,329
.
„
924,768
1,068.087
601,011
567,130
541,650
452,258
+11.8
+4.7
+24.8
+ 12.8
445*463
In total
*—1.8
+1.8
+3.1
+5.7
—7.9
+1.1
137.742,003
6.706,100
5.679,939
3,098,957
2,302,502
2,050,326
2,251,215
+4.5
902,136
—7.3
+3.5
416,757
637,530
+4.8
422,896
—8.0
*"163,184,767
+5.9
290,771,197
23,023.750
—3.8
+15.9
184,556.300
+6.6
141,165,688
99,134,834
94.564.560
69,623,946
66,457,655
54.179,200
44,612,334
37.508.945
35,361,934
34,094,083
26,363,279
31.375.946
22,595,116
17,004,022
17.038,814
22,099,358
21,678,124
13,167,154
13*628,230
16,100,525
14,089,404
12,374,258
13,636,027
15,322,574
9,195,231
7,918,975
12,331,485
5,840,875
3,422,436
+11.6
4,821,260
+3.2
3.267,526
+4.3
+0.0
3,737,030
2,223,827
+2.9
2,530,677
'
+ 19.8
+7.7
—1.0
.
+7.6
1,706.000
+ 10.6
+22.6
1,163,806
1,350.000
080,149
1,110,797
865,887
569,076!
—3.9
+ U.1
+ 16.1
—3.2
+5.6
+ 11.2
+25.4
+3.4
included
153,511,882
7,564,300
5,713,169
2,936.335
2,463,916
2,198,643
2,247,874
836,259
698,994
496,369
in total
.
+6.9
+3.5
—0.1
+ 15.9
+6.8
607,076
821,311
531,399
800,000
383,696
502,649
555,500
436,026
538,071
315,208
699,207
369,110
2,033,202,833
—10.3
—11.3
—0.6
+0.2
158.729.295
6,930,600
5,087,356
3,089,111
2,194,008
2,003,660
2,266,288
+ 16.5
+5.5
—6.5
—6.7
143,078,724
7,064,400
4,266,311
2,663,117
1,957,791
W
736,927
851,198
+29.2
819,391
—16.1
—9.5
516,533
618,380
849*466
488.329
471,184
—10.4
531,849
280,664,034
21,645,100
22,794.401
26,740,720
12,509,348
7,043,532
+ 3.6
,
8
703,174
519,736
*"183,723,498
.
570.664
+m
+4.5
+ 14.4
+36.2
+3.3
+7 0
+6.6
+43.8
Not
l,967,129~il2 2,039,703,964
25,737,885
24,281.004
13,903.148
8,184.351
6,636,100
1,124.101
+7.0
+0.8
—7.1
8*61*546 "—*8*2
+ 13.3
.
581,954
19,275,800
•
1910.
I.
$
—4.8 1,750,416,963 1,579,685,368
1,090,960
■
369,946
705,400
+14.2
+ 13.5
29,334,900
8,810,813,610
809,502,700
647,853,190
630,632,263
417,558,116
257.761,673
1911.
Dec.
"""
974,406
449,647,969
255,091,806
196,796,800
157,502.223
102,305,274
98.603,441
73,807.139
68,395,387
58,509,000
49,100,529
45,977,486
33,996,178
37,876,025
30,599,316
30,380.144
23.855,960
18,904,316
21,364,766
22,859,467
25,194,524
14,041,765
14,571,776
16,993.404
14,073,557
14,348,761
14,568,440
16,015,919
10,517,754
10,786,079
12,743,678
6,250,109
3,647,707
1,616,778
—4.1
—1.3
>
58,799,019
43,965,337
51,804,663
34.825.559
29,865.715
17,065,450
19,831,152
14,241,171
754,678,860
+ 14.6
22,525,552
13.407,827
14,585,094
1
+11.3
"5X03,8947473 ~5J98;276;068
+20.9
611,061
1,998,003,181
.
+6.4
+ 12.9
—9.2
+11.1
+ 10.2
+8.5
6,118,300
4,365,880 +10.4
3,037,264
+7.6
4,278,880 —13.6
1,937,523 +14.8
2,038,266
+24.1
—3.2
1,762,000
1,520.202 —22.8
1,094,087 +23.4
824,318 + 18.9
+4.0
1,067,460
—0.9
873,352
1,072,194 —46.9
—12.6
652,672
504,607
+20.3
528,288
+55.5
~—8.4'
580,120
675,824
+18.5
—2.5
393,506
365,556
+37.5
550,000
+ 1.0
+3.6
420,829
379,402
+41.8
357,500 —11.8
419,174
+43.0
254,619,815
22,648,200
18,657,866
18,069,174
12,578,701
9,121,891
5,616,700
4,263,705
2,350,883
2,963,978
2,214,555
2,494,840
1,259,000
1,114,486
1,034,315
1,037,955
1,141,499
252,683,744
21,770,300
19,804,534
17,485,677
11.636,763
0,904,235
6,056,100
'4,319,878
2,740,194
2,964.656
2,191.412
,
'
/
2.171.218
866,000
1,268,180
951.286
1,026,642
1.080,417
610 J67
607,019
799,503
600,567
667,537
582,771
506.876
449,415
564,807
576,760
333,048
412,250
410,000
391,445
561,199
543,604
656,129
626,449
40Q.91O
440,855}
455,000
478,552
419,925
269,467
+37.0
325,000
558,431.
342,713
*"*200,755
'240,878
—26.7
"""i"55;§l6
"59*450
"31*666
+91*8
35*017
316,493
340,000
474,607
329,986
142;838
""""38*980
369,191,922 ^306,075,882
TP
13,570,075,046
12,731,686,465
+6.6
424,153,592
407.733,690
TOT
Total Paciflo—...
536.402,144
539,989,133
—0.7
3.781,245,528
Total Other West.
3,662,767,277
+3.2
105.S06.480
111,933,089
—5.5
101.370.296
646.046.212
100.382,023
593.573.730
+8.8
4,504.662,230
4,179,729,054
+7.8
137,891.278
128.343,992
+7.4
126,349,254
131,767,636
328.536.627
322.828,671
+ 1.8
72,302,364
77,616,887
—6.8
62.370,015
57,512,583
+8.5
32,582,477 Not Included
In total
2.401,302,773
+0.6
68,171,548
68,612,994
—15.6i
16,713,814
14.111,216
—17.4
14,684,692
12,131,769
In
total
Not
Included
7,288,705
+5.6
8,841,974
9.337,221
7,785,168 —19.0
6,307,114
+ 1.8
7,704.000
7,847,000
4.5
5,439,971
5,195,260
+ 14.8
6,227,715
6,300,000
+32.5
4,218.586
5,591,863
4,048,601 —20.3
3,226,949
2,839,418
+ 16.7
3,312,525
+8.9
2,733,139
2,975,000
+ 13.4
1,463,785
1,659.507
—11.3
2,239,404
1,985,854
—8.4
2,675,000
2,450,000
1,302,374
+ 10.1
1,433,982
1,399,045
+21.5
1.700.000
—6.7
1,637,960
1,527,586
1,333,695 *-10.5
1,193,648
1,732,086 —28.1
1,246,323
+0.2
1,212,868
1,215,000
1,800,000
1,089,883 +65.1
497,978 +91.4
952,214
06,346,578
19,460,143
12,900,646
62,158,767
15,284,670
12,695,883
8,499,018
7,340,552
5,191,600
4,411,738
4,351,809
4,348,773
3,818,581
2,722,817
2,146,914
1,693,531
2,160,192
2,456,699:
1,607,297
1,636,031
1,514,402
1,056,258
1,522,620
1,201,377
1,647,372
527,571
7,191,113
—11.5
835,442
301,274
199*917
207,102
340,000
254,878
193,423
*160,106,154
145,817,948
Detalls of Pacific and Other Western
..
+ 6.6
26,462.800
217,994
...
Total Middle West.
+4.3
59.122.167
40.372,890
8.480.000
Springfield, 111
Fort Wayne....
«* _
+2.3
779,043,050
751.267.952
.........
......
+ 5.7
—9.2
9,334,131,707
38,725,172
31,993,000
24.763.965
14.029,444
14,404,202
12,662,826
12,739,652
+ 15.1
+9.4
20,521,786
14,930,607
80,672,902
34,680.093
31,204,218
15.821,614
+5.7
Peoria......
Grand Rapids.......
Evansvllle.
Owensboro
+4.3
—2.4
......
+ 10.3
—0.4
.
116,227,300
110,144,442
98.651,260
.........
+7.9
+6.3
1,664,269,953 1,748,054,986
161.528,880
150,947.666
53,953,348
53,537,444
36,243,912
38,995,733
11,658,588
11,499,518
7,421,804
6,726,962
6,962,282
5,821,939
4,854,841
4,997,542
2,794,857
2,600,000
2,840,584
2,725,666
1,838,906
1,759,950
1,754,169
1,735,907
2,140,216
1,734,780
1,363,878
1,543,072
1,655,382 •
1,711,096
5,361.749,692
255,881,900
147,319,744
91,403,937
79.377,742
66,954,258
79,759,748
1,271,131,184
Milwaukee...
+2.i
1912.
%
—92
—3.8
113,450.650
127.408,115
117,601,521
67,733,374
Detroit
+7.6
+10.6
62,135,758
48,009,171
Not included
4,870,367,350
246,077,400
149,894.960
94,232,162
83,878,155
61,658,226
1,343,100,451
Cleveland
++1
"65^85348.671 "B67935T75036
+6.2
883.6237668
Cincinnati
Columbus.
—il
10,236,994
11.216,542
4,607,116
4,185,666
2,534,395
3 ,111,727
2,221,706
3,899,200
2,302,835
3,193,184
2,316,"
4,156.900
...........
Holyoke
Bangor..
Waterbury *
+0.8
+5.8
*3.3
8.629.156
12,780,943
Inc. or
1913.
Dec.
58,057,290,821
4,671,240,684
1,598,432,116
1,096,506,204
323,897,040
237,070,995
181,659,355
144,165,397
83,625.515
77,559,098
9,736,459
In total
9,258,6087960
1912.
92,219,610
89,286,615
57,022,526
53,457.285
67,646.320
47,583,724
57,300,814
47,710.280
28,621,984
81.363,676
52,971^617
+ 1.2
2,995.633
2,802,975
2,884,000
2,440,106
2,484,400
2,176,625
1,087,845
1,232,530
•
1913.
—7.3
+14.1
+6.0
Week ending August 2.
Inc. or
Dec.
7,921,082,229
688,502,370
247,191,957
161,133,592
60,771,814
33,123,388
31,275,588
21,115,544
12,975,188
13,007,810
8,254,330
7,850,880
8,820,773
7.008,567
7,647,042
5,980,951
4,204,800
4,722,961
5,835,062
708,545,975
252,463,070
163,293,000
57,907,654
35,112,131
28,500,000
21,858,216
14,293,677
14.234.773
8.355,492
8,299,552
10,010,116
6,940,875
8,092,906
7,526,738
3,949.408
5,288,093
6,202,077
3,291,404
3,270,000
3,277,000
2,765,184
2,757,149
2.100,000
1,284.759
1.362,672
1.943.180 Not
.....
.........
Scran ton.
1912.
7,344,920,024
Saturday morning by WILLIAM B. DANA COMPANY;
Jacob Selbert Jr., President and Treas.; George S. Dana and Arnold G. Dana.
Vice-Presidents: Arnold Q. Dana, See.
Addresses of all. Office of the Company.
St. Louis
New Orleans.......
Louisville.
.....
Houston
.
..
.......
Atlanta....".;.
44,387,479
33,187,758
Richmond...
Galveston
35,515.000
Memphis
Fort Worth........
27,818,121
31,244,339
27,872,443
16,037,690
19,952,017
12,835,915
Nashville
Savannah.....
Norfolk
Birmingham
.....
Little Rock....
Macon
8,768,570
9,999,903
...
Jacksonville.
13,615.502
6,893,272
10,701,460
7.115,577
6,754,682
6,018,279
6,013,469
8,328,968
6,059,957
4,279,379
2,730,523
2,390,160
2,695,498
1,295,952
......
Oklahoma
Chattanooga..
Knoxvi lie
...
Charleston
....
Augusta
Mobile
Austin.....
Tulsa
Columbia
Beaumont
Wilmington, N. C._
Muskogee
Jackson
.......
Vicksburg
Meridian
;
Columbus, *Ga.
El Paso
Total
933,418
1,654,651
1,561,194
;
....
6.034.184
,
Southern-
Total all
Outside New York
on page
342
.
44,769,680
37.728,305
32.746.000
80,162,192
24,783,355
21,253,012
16,937,093
14,013,397
11,785,966
T,541,677
—0.9
—12.0
+8.6
—7.8
+26.1
+31.1
—5.3
+42 4
+8.9
+ 16.3
11,908,290
—16.0
14,476,631
—5.9
5,811,722
+ 18.6
9,327,374
9,052,637 —21.4
7.190,074
—6.1
7,400,888 —18.7
5,872,443
+2.4
4,123,706 + 102.0
3,246,800
+55.8
3,369.156
+27.0
2,350,000
+ 16.2
2,822,012 —15.3
2,678,940
+0.6
1,354,032
—4.4
944,000
—1.1
1,380,683
+ 12.6
1,623,534
—3.8
5,800,681
+4.0
■
<
+30
—6.3
226,839,045
190,258,347
—1.0
154,184,060
103,830,149
85,786,691
58,610,232
106,895,444
101,493,862
44,517,225
69,645,530
59,739,006
56,722,069
64,505,709
42,123,691
69.292,216
106,905,155
50,432,903
76,017,870
48,761,170
51,403,565
56,815,106
42,682,849
.
254,630,468
257,668,500
163,783,924
'
■
824,804,266
800,4127321
13.535.682,574 13,945,790,270
6,190,7657550 ~6.024770575fl
fW Table Clearings by Telegraph
:
545,824,981
423.755,678
135,803,151
375,064,231
238,553,098
279,214,000
223,262,536
234,670,575
208,362,322
127,922,732
122,386,068
99,535,912
63,742,314
92,430,910
2,304,640,677
+4.2
—8.5
596,317,795
»—3.3
438.120,820
Not included
in total
—3.3
387,801,080
80,291,812
31,239,999
31,115,541
19,788,406
20,911,915
22,716,835
12,322,436
20,550,953
27,132,903
17,289,342
22,805.471
22,343,371
13,894,706
8,282,124
9,057,034
10,564,894
10,956,654
13,648,343
+8.4
+23.3
+27.2
—17.0
+ 17.9
+i6;o
+8.8
—13.5
+5.3
+13.3
+9.1
-*-18.4
—9.4
—11.9
+ 1.3
+ 15.9
+52.0
+ 14.7
+ 14.5
v
478,490
209,242
165.000
309,765
8.6
+3.7
—2.6
+ 10.9
87165,840^278 """<0)36,082,700
TOT
"163,275,522
540,486
269,148
—22.3
183,501
238,377
-+10.1
+29.8
166,224.216
r
99,511,566,226
90.794,298,000
—0;3
2,961,441^051 3,033,853,050
—2.
TOT *43,375,714,643
41,737,007.179
TOT
1,297.171,098 1,285,798,964
—2.9
^
7,182,500
5,468,000
3,615*444
5,000,736
3,453,980
4,044,539
'
'
2,730,789
2,248,140
1,390,684
764,171
2.312,908
2,113,663
1,263,758
1,590,304
1,102,000
1,421,847
1,301.968
769,323
—8.3
+ 1.7
—11.3
14,002,093
41,035.393
45.519,465
"
NotTncluded intctal
2,973,743,957 2,763,842,620
+0.vi 1,223,326^94 1,184,157^252
for monthand seven months; comparison incomplete.
The
THE FINANCIAL SITUATION.
In connection with the
of
the
Treasury to place
West and
sion
admit of
the
after
cash will
whether the state of Treasury
The amount of
large additional deposits.
(that is, the cash remaining
balance
cash
net
the national banks in the
South, there has been considerable discus¬
to
as
extra $50,000,000 of
an
allowing for current liabilities) is usually exam¬
ined with the view to
possible.
As
balance has
a
seeing whether the operation is
matter of fact, the extent of the
cash
absolutely nothing to do with the ques¬
tion, since the
is just
money
available for the
as
meeting of Government liabilities after it has been
transferred to the banks
vaults in the
The
when it is in Treasury
as
physical possession of the Government.
question is in the main
one
is, it rests with the Secretary
best for the Treasury to
ings of the Government
for
money
hold¬
silver held against out¬
of Government cash
banks.
From
gold
the
sum
be deducted, but this
course
money
held, including $48,402,-
190 of national bank notes and
sidiary silver.
the
It is not
$20,174,519 of sub¬
our purpose
precise amount the Secretary
posit with the banks.
We
plain that the amount is in
that the
money
here to indicate
may
have for de¬
merely to make it
mean
event large, though
any
point, however, is worth noting, namely
Secretary has been greatly adding to the
holdings in the Sub-Treasuries and k
ently still adding to the
appar¬
Whether this is
same.
preparatory move or not, it is- at all events
In other
issue of July 19,
our
reviewed the statement
we
month.
the revisions in the form of the
on
the
for the
It will be remembered that we
previous
commented
daily returns and
corresponding changes made in the monthly debt
statement, and said that these revisions were in the
of
nature
not
improvement, but that there was one
an
alteration
which
likely to
was
the treatment of the
to
confusing, if
prove
In this last
actually misleading.
alluded
we
deposits made by national
Under the
banks for the retirement of their notes.
provisions of the Act of July 14 1890, these deposits
covered
are
the
into
Treasury
miscellaneous
as
receipts and it is further provided that the aggre¬
the
words, the Secretary is apparently
lating cash in order to be able to
pay
a
a
fact.
accumu¬
it out again.
month
printed statement of the public debt under the
heading "Debt of the United States Bearing No
Interest."
is
This
from which it is not
ment to make any
the view of the
which
find
we
and
the
requirement of
the
law,
possible for the Treasury Depart¬
On the other hand, in
departure *
Secretary of the Treasury, and with
ourselves
in
this National
accord,
Redemption Fund is
Bank-Note
a
current liability,
provision for it should be made out of current
cash.
Accordingly,
McAdoo last month in¬
Mr.
cluded the item in current liabilities and
from cash before
We
ance.
deducted it
arriving at the available cash bal¬
pointed out that
as
the debt statement has
attempted to show the net debt—that is, the
never
debt remaining
after allowing for cash in the Treas¬
ury—the fact that this item was in effect duplicated
because counted first in the gross
time in
inexhaustible.
no means
Another
$150,000,000
of $215,937,226, which, however,
all kinds of
covers
deposit with the
on
$365,937,226 the
must of
reserve
still leaves the
by
The
at all times exceedingly
834,251
when
debt, and thus avoids
of the gross
to how much it is
as
This is independent of $57,-
standing certificates.
as
on
August l,the net holdings then were $365,937,226
after eliminating gold and
well
as
objection mentioned in
gate of such deposits shall be exhibited each
According to the "Circulation Statement"
large.
States
the
of discretion—that
retain.
are
monthly debt statement for the first of August
a tabulation of the net debt of the United
contains
proposition of the Secretary
Government deposits in
[Vol. xcvii.
CHRONICLE
THE
320
debt and
second
being deducted from Treasury cash, it was
likely that those who attempted to arrive at
very
the net debt for themselves would be
the
a
would
student
ordinary
misled, since
sufficient
have
not
knowledge of the make-up of the statement to allow
for the
duplication.
In
response
the debt statement now, as
debt
net
as
well
as
to our suggestion,
already noted, shows the
the gross debt, and with the
national bank-note redemption fund
A striking instance of what is being done in this way
amount of the
is furnished
properly credited back, all possibility of error or
During
by the figures for the month of July.
that
month
Government]
represented by the
as
current
043.
revenues
Yet
we
pay
disbursements,
no
we
examine the amounts
was
on
holdings dur¬
done
appears,
when
deposit with the national
banks and find that this item for
Aug. 1
was
$57,834,251, whereas for July 1 it
was no
less than
only
And the downward movement of the Government
deposits is still in
progress.
ment to hand is that for
The latest daily state¬
Aug. 5, and this shows the
deposits reduced to $54,574,542. In other
words, deposits in the banks have been drawn down
20 million dollars since the 1st of
tary is evidently bent
on
July.
in
was
re-enforcing his cash holdings
good his promise to
the West and South.
interesting to know
if the Eastern banks
It would be
are
being required to surrender
what the Western and Southern banks
are
to
get.
through 1913 that the iron
experiencing unexampled activity, chiefly
filling old orders.
this belief
Evidence of the accuracy of
is furnished in the statistics of iron pro¬
duction for the six months to June 30 as
in the Statistical Bulletin
of Statistics
contained
just issued by the Bureau
(William G. Gray, Statistician) of the
Steel Institute.
these six months was the very
The output for
largest by far of
any
half-year period in the entire history of the trade.
The
product reached 16,488,602 tons as against only
14,072,274 tons in the first half of 1912 and but
11,666,996 tons in the first half of 1911.
The best result in the first half of any
The Secre¬
before he is called upon to make
trade
American Iron &
$74,160,472.
Government
It has been known all
less than $12,896,-
find that the net money
How this
•.
warrants drawn, exceeded
in amount of
ing the month were increased from $347,053,005 to
$365,937,226.
misconstruction is removed.
previous
14,978,738 tons in 1910, as compared with
the present year's total shows an increase of
year was
which
over
1J^ million tons, and the best result-in the second
half of any year was 15,654,663 tons
of
1912,
as
increase of
in the last half
compared with which there is now an
It will be observed that
830,000 tons.
Aug. 9
the output
of
THE
1913.]
for the first six months
at the rate
mately 511,000,000 bushels—a record product exceed¬
But the indica¬
ing that of 1906 by some 20 million bushels—and
was
roughly 33,000,000 tons a year.
tions for the last six months are for a smaller output
that
than
recorded for the first six months.
now
There has been
of all
important decline in the prices
an
grades of iron during the six months, No. 2
pig
foundry
Philadelphia for instance having
at
averaged only $16.19 in June against $18.50 in Jan¬
and No. 2 foundry iron at Birmingham only
uary
$10.81, against $13.70, and new business has been
on
greatly diminished scale.
a
Steel
orders
5,807,317
only
aggregating
7,932,164 tons December 31
statistics of iron
The United States
1913 reported unfilled
Corporation June 30
against
tons
The monthly
1912.
production published by the trade
The
Age" of this city in its statement issued the
journals tell
"Iron
similar story of contraction.
a
(not
present week reports the production for July
including the output of the charcoal furnaces, which
included
never
are
these
in
331:
CHRONICLE
statistics)
monthly
comparing with 400 million bushels in 1912 and 430
millions in 1911.
t
Spring-wheat records an improvement of 3-10 of
point for July, but at the same time
August 1,
„
officially reported at 74.1, is low,
as
a
the condition
com¬
paring with 90.4 last year. '• The indicated yield per
is
acre
and
placed at 12.5 bushels against 17.2 in 1912
that basis the total crop
on
000 bushels
For spring
water mark.
the
arrived at is 233,000,-
against 330 millions last year—the high->
and winter wheat combined
expectation at this time, according to the De¬
figuring is for
partment's
bushels,
This is of
of 1901.
of the report,
about
course a
especially
harvest of 1912,
which
deteriorated
Oats
as
million bushels
14
yield of 744,000,000
a
only nominally less than the record
or
it indicates
an excess
of
the outcome of the
over
was a
crop
satisfactory feature
very
good
moderately
one.
during
July,
the
reported by the Department for Aug. 1,
2,560,646 tons against 2,628,565 tons in June and
condition,
2,822,217 tons in May.
being 73.7%, against 76.3 a month earlier, 90.3 a
and
year ago
The
grain
report for August, issued by the
crop
yesterday afternoon,
adverse conditions
Agriculture
of
Department
seemed to reflect quite clearly the
that
weather
of
of the country
current
ces
therefore, quite
was,
further
Latest
lowering of the prospect of yield has oc¬
curred since the date (Aug.
ment
1) to which the Govern¬
Returns from the
is brought down.
report
winter-wheat
better
denote that
moreover,
harvest,
the other hand, give
on
a
promise of outturn than a month earlier, and
slight improvement in spring-wheat condition is to
noted.
be
But
potatoes—a
very
product of 1,028 million bushels,
a
comparing with last year's record total of 1,418
million bushels and
outturn of 922 million bushels
an
The amount of oats
in 1911.
important food
due
the
to
bushels
a
of
a
quite
crop
a
little less than last
year
is
now
year ago.
For
the average
corn
by the Department
oration
of 11.1
as
and
on
•
the Department estimating the
year,
per acre
at only 92 bushels,
bushels last year, or a
gards barley is for 168 million bushels,
bushels less than in
1912, and
——
_<
Bank
the
It
compares,
The situation
July,
over
as
On the other
month,
condition of 30
on
ago;
in Oklahoma, 44 with 65;
On the basis of the
2,672,000,000 bushels,
acre
and
an
regards
and in Mis¬
average con¬
per acre
than
had
nounced
a
total
crop
against 29.2 bushels
winter wheat,
been
Department
bushels,
is officially
per
million bushels in 1911.
expectations
encourages
Aug. 1 1913
aggregate yield of 3,125 million bushels
in 1912 and 2,531
As
as
In
in Nebraska,
figured out to be 25 bushels, forecasting
of
now
of
predicted
the August
better
a
a
month
estimates the yield
against
15.6
bushels,
July 1, and the total
differing in
no
1
report
result,
earlier.
per acre at
the
crop
figure
as
The
16.5
an¬
approxi-
gain
year.
a
decline from the
previous
the adverse result being in considerable measure
due to the
falling off in speculation at the Stock Ex¬
change and
a
decline in the volume of other financial
transactions that
are
such potent factors in the swell¬
ing of bank clearings.
Our
\
compilation of clearings for July, given
first page
on
the
of this issue comprises altogether 152 cities;
of these 111 report
percentages of
notably
final
a
period of the previous
hand, with this city included, the latest
February 1913, records
Aug. 1, the indicated yield
'v.
did most preceding similar periods since
as
year,
dition
.
in all earlier months since April 1911,
the corresponding
largest production.
souri, 70 with 81.
I
Excluding New York, there has been in
the contrast being quite
79;
■
aggregate an exhibit
a year ago,
67 with
somewhat smaller
clearings in the United States for July 1913
in
districts of
a
as re¬
56 million
months.
the corresponding date last
with 73 twelve months
a
or
hay harvest is expected.
marked in
compares
The indication
against 421,000,000 bushels.
satisfactory than
Kansas, for example,
against 113.4
total of 339,000,000 bushels,
deteri¬
a
important corn-raising States is less
some
much smaller
a
Aug. 1 is stated
ten-year average of 82.2.
a
in most of the
an¬
particular from those for recent previous
only, 75.8, this being
on
The total
1912.
essential
points from July 1.
furthermore, with 80
year
condition
much
was very
stated above, promise
as
supply this
make
looked for.
Aug. 1
103,900,000 bushels, against 34,872,000
Potatoes,
product
yield
heavy
nounced is
on
crop—felt the effect of the prolonged dry weather,
and
remaining in farmers'
greater than at the same time in the previous year,
by drought and high tempera¬
advices,
on
sour¬
important drop in condition being
a very
is estimated, which
hands in the United States
and these find substantiation in this official
indicated.
planted would give
this
A yield of
the area
ten-year average of 81.5.
a
26.8 bushels per acre
were
Reports
during the month from reliable private
document,
a
important sections
expectations.
with
of damage to corn
ture,
a
in
during July, and
line
in
fully
prevailed
as
so
at
totals in
excess
of 1912, with the
increase large in many cases, and
Harrisburg in the Middle division;
Columbus, Canton, Springfield, O., Decatur, Jack¬
sonville,
Gary,
West; Duluth,
Lorain and Adrian in the Middle
Fargo and Fremont in the "Other
Western" section, nnd Fort Worth, Nashville, Nor¬
folk,
Austin, Tulsa
and Columbia at the South.
On the other hand, there are no less than 41 places
322
THE
that report
larger
or
smaller decreases.
CHRONICLE
For all the
municipalities outside of New York aggregate clear¬
ings reach $6,190,762,550, which is
a
year
of 2.8%.
ago
gain
a
At New York,
already stated, there is
loss of 7.3%,
a
over
July
however,
as
that for the
so
[Vol.
to Messrs R. G. Dun& Co's
1,127 in 1911.
the
Of the fifteen branches into which
manufacturing division is segregated, nine show
greater liabilities than in
The
with
months' exhibit is of
the outside cities
New York
showing
decline of
a
similar character,
a
gain of 3.9%
a
1912,
over
3.3% and the aggregate of all
falling pff of 0.3%.
a
Speculation
on
the New York Stock Exchange was
extremely light in July—in fact,
much below
very
the average for the period and on the whole upon
comparatively low basis of values.
a
totaled
only
5,124,015
shares,
shares in the month of 1912 and
The dealings
against
no
?13 shares in 1910; and for the
7,158,324
less than 14,254,-
months
seven
were
but 51,381,313 shares, against 76,544,864 shares last
and 112,095,658 shares three
year
seven
months'
shares.
record, made in 1901,
Bonds
also
were
less
les of all the various issues
35 million dollars par
millions in 1912
and
61
192,080,413
freely traded in, the
totaling for the month
value,
transactions since Jan.
was
contrasted with 52
as
millions in 1911, with the
1
the
the other
on
fish alone is so
gain
a
of
large (160%) that for the whole division
2J4
million dollars is shown. Among
brokers, transporters, etc., the exhibit is more satis¬
factory, the rise in amount of liabilities over 1912
being merely nominal.
The
as
showing for the
concerns
but
volume of share
period in 1912, with almost
great
as
decline in the
a
months is
favorable
more
a
year ago,
regards amount of debts involved the total
as
exceeds,
1893.
and
seven
number of insolvents than
as
intimated above, all other
except
years
For the
period in 1913, the number, at 9,332,
liabilities, at $153,234,766, contrasts with
the
reaches
a
iron,
but the augmentation in groceries, meats and
year,
centres, Boston, for instance (and thus accounting for
months less than half those of the
ago,
in
hand, only five branches report indebted¬
magnitude than in the month of last
facturing branches in the
seven
year
noticeable
of greater
ness
What is true of New York is equally so of other
drop in clearings), reporting
a
millinery, chemicals
drugs, and paints and oils, the aggregate increase
being 1% million dollars.
In the trading group,
845,104 two
sales for the
month
and
aggregating 319 millions,
against 457millions and 528 millions, respectively.
the
the
particularly
excess
foundries and nails, clothing and
The
years ago.
compilations,$20,325,705
representing 1,169 defaults ^against $16,098,460 and
1,230 in the previous year and $12,150,070 and
whole country the month's result is a decline of 2.9%.
seven
xcyii.
9,547 and $124,110,683 last
year
and|8,187 and $115,-
The indebtedness in
years ago.
seven
months
manu¬
this
year
$63,483,323, against $51,281,343; the com¬
parison in the trading group is between $70,117,736
and
$56,683,020, and
707 and
among
$16,146,320.
"
brokers, etc. $19,739,/
bond operations.
The Canadian
the
clearings exhibit for July is of much
character
same
that for June and
as
further check in the
a
the Dominion for
month
an
activity that
was a
extended period.
indicates
feature in
For the latest
majority of the 20 cities included in
a
comparative statement shows losses from
with the decline in the total of all
a
our
year ago,
6.2%.
For^the
seven
months, however, the aggregate is a high record,
exhibiting a gain over 1912 ,of 2.5%.
The
latest
revolution
Republic
seems
Dr.
Yat Sen,
Sun
China and
one
themselves
period of 1912, covered
a
larger volume of indebted¬
ness
than then recorded and in fact the heaviest for
the
identical
month
in, very
many
years.
It
is
likewise true that the aggregate liabilitiete
reported
by insolvents since the first of January i$ in excess
of
those for the
seven
months
of
all
earlier
years
with the exception of
no
1893, though there has been
important augmentation in the number of failures;
the
result
is
explained by the insolvencies of large
year.
These have been comparative¬
magnitude this
ly few in number but have contributed
larger part of the liabilities.
this
state that in
over
July this
so
We have referred to
1913 in reviewing
it merely remains to
year some
half of the total
40 defaults
one
Among the
(the Yantic Woolen
Co., of Hartford, Conn., for $236,334) is
ascribed
which
to
has
in the
in
.procrastination
caused
account
indebtedmess.
failures of this latest month
in
tariff
directly
legislation,
uncertainty and
trade, and not
import duties.
to
semi-paralysis
the prospective reduction
capture the
July 1913 reached, according
A
amon/the
occurred on/
desperate fight
is reported
to have
"Dare to
was
rebellion
Japanese steamer bound for
a
regiment called
Die"
The/famous
whose ) com¬
suspected of having plotted
fortifications by stealth
from
the
revolutionists in order to sell them to the Govern¬
ment, attacked the forts, but the latter opened fire
and
simultaneously the Northern troops, executing
flanking movement, literally mowed down the regi¬
ment in question.
In a special cable to the New
a
York Times Admiral Tsai
Ting-Kan, private
secre¬
tary to President Yuan Shih-Kai, relates the history
of the'revolution.
The present outbreak
began in
gathered in Hu-Pe Province,
organized secret societies, endeavored to undermine
June when the rebels
the
loyalty of the troops and planned, to seize the
capital city, Wu-Chang.
Many of the rebels
in
were
The plot
was
frustrated.
executed but others escaped
foreign steamers down stream to Kaing-Hi, which
then
this
became their headquarters.
Shortly before
complaints of the mal-administration and dis¬
loyalty of the Governors of An-Hui, Kiang-Si and
Canton had compelled the Government to remove
them from office.
assisted
to
the
In
rebellion.
revenge
Since
these three
the
governors
rebellion
quote the despatch in question, the
whose
The aggregate of failed liabilities in
all commercial
and industrial lines in
to
much the
predominating feature of
previous months' exhibits,
for
very
on
Wednesday at the Wu-Sung forts.
mander Lufu Piao
Commercial failures in the United States in
July
1913, while fewer in number than for the similar
Chinese
former provisional President of
the Island of Formosa.
rebel
new
thoroughly collapsed.
of the leaders of the Southern
is said to have fled
rebels
against the
to have pretty
began,
Government,
previous patience and consideration for the
views of all classes, of the
described
as
community had
even
weakness, has acted with the
been
utmost
Aug. 9
vigor.
the
1913.]
Loyal troops
of
scene
mained
have
the
loyal.
everywhere
were
CHRONICLE
despatched southward to
insurrection.
The
has
navy
re¬
The loyal Government troops have
been
been
the
THE
successful.
The
Hu-Kow
recapMred, Nanking has
forts
been relieved,
Shanghai arsenal has successfully resisted the
rebels attacks.
"The
rest until
never
President", it is declared, will
the rebellion is
Never will the President,
with
the
sacred
entirely
entrusted
quenched.
by the nation
responsibility of high office, allow
rebels to break up the Republic or
inflict suffering
Although the preliminary treaties have not yet
been
signed, it is announced from Bucharest that
peace
has tentatively been concluded between Servia,
Greece, Montenegro, Roumania and Bulgaria.
still
are
an
eleventh-hour hitch may
take
place in view of
Austria's reported determination to insist
of the treaty
by the Powers.
hard to retain
very
captured
There
rumblings, however, suggesting that
some
from
a
on
finally
acquiesced
that
unless
frontier
as
occupy
Sofia
starts
at
Struma
point
a
the
The
modified
would
army
frontier
new
almost through
runs
The
its
frontier is
new
eventual
Bulgaria thus obtains
of Northern
miles of the
to build her
the
for
hope
a
Macedonia
revision
by the
considerable
a
and
also
about\
por¬
sixty
Aegean seaboard, which will enable her
projected railway from Philippopolis to
Aegean Sea.
Apparently the whole of the dis¬
puted country between the northerly
of the
courses
Vardar and Struma rivers goes to Servia, including
Oychepolye,
Veles,
Demirhissir,
Greece.
and
Drama
Kotthana,
and
Kavala
Montenegro, it is reported,
from Servia
an
corresponding
Servia
Istip
Ceres,
in
extension of
to
the
Fiorina will be
Monistar
the
Greek,
while
fall
will
to
receive
territory east and south
aid
with
war
Montenegro
Bulgaria,.
rendered
Vodena
and
will also be the Salonika-
as
Railway within about 25 kilometres of its
London
and Austria
and
that
upon
a
"Times"
are
the
believes
are
almost
Russia
both
certain
to
insist
revision of the treaty to meet their views.
all
Jews
Thursday informed
take such
a
to
Porte
to
conference
that
Bulgarians
respect'the
It is said that the Powers will
firm stand in this matter that
will not have
peace
the
to the
Turkey would be forced
Treaty of London.
fight the Turks again.
on
against the
Department
them under the
influenced
of
was
advised that Roumanian
being deprived of civil rights guaranteed
were
Treaty of Berlin.
This, it is said,
Secretary Bryan to ask that
guaranty
a
religious liberty be included in the proposed treaty
at Bucharest.
While
no
official announcement
the Administration's
one
policy
explanation of.
or
regards the Mexican
as
On
question
no
Monday last
Secretary Bryan announced the acceptance of the
to Mexico in the
as
Ambassador
following formal statement:
"Ambassador Wilson's resignation has been ac¬
cepted to take effect Oct. 14.
The part which he
felt it his duty to take in the earlier stages of the re¬
revolution
cent
in
Mexico
would make it
difficult
for him to
represent the views of the present Ad¬
ministration, in view of the situation which now
exists."
•
On the
nesota,
same
Bulgaria
At the
Tuesday^M. Majoresto read
a
day John Lind, ex-Governor of Min¬
appointed
was
adviser
to
American
the
.
Embassy in Mexico City and immediately departed
for the Mexican
capital to attempt to
out the
carry
policy of the Wilson Administration.
Telegraphic
advices from Mexico City indicate that the
appoint¬
ment of Mr. Lind is resented at that centre and Presi¬
dent Huerta in
ment that
formal
a
note
made
Mr. Lind would not be
Mexican Government except as a
and
announce¬
accepted by the
properly credited
jurisdiction
one
or our own
country
technically at least Mr. Lind will not
assume
official
functions
Huerta
requiring his recognition by the
Government.
*
Our
-
in the hands of
■
with
status
the
our
Mexican
Washington, which is
Senor
affairs
Mexico
are
as
Embassy corresponds in
Embassy in the city of
under the jurisdiction of
now
Algara, Charge d'Affaires.
on
in
#.
Secretary O'Shaughnessy, acting
Charge d'Affaires, and
tion
the
However, the appointment is entirely
envoy.
within the exclusive
Secretary Bryan
following telegram to the American Lega¬
Wednesday:
"You may say to
that Governor Lind
the Minister of Foreign Affairs
comes
to Mexico
peace
and that the President feels
there
will
contribute
the President's
that
States
The State
Jews
stantinople
and
United
of people of their religion in Roumania.
difficulties.
on
the
over
treatment
Meanwhile the representative of the Powers at Con¬
Adrianople must be handed back
-
that
opposed to Greece having Kavala,
Powers
a
The Administration
Washington has been receiving vigorous protests
sent the
head.
The
in the treaty.
announced, there is
deep disappointment to the Bulgarians, who, it is
still
All the heads of
superfluous to think of inserting such
special clause
at
conference.
of mediation.
of Lagos and Xanthix to Bulgaria and the
Powers.
peace
delegations to the conference agreed that
almost straight line to the
port of Kavala to Greece.
tion
it would be
Majoresto remarked that
the law in every country partici¬
was
pating in the
the various
River, thus leaving the town of Strumnitza,
the port
said,
such liberty
M.
when,
Valley to the Belesh Mountains, and
an
annexed.-
or
situation has been
the olcy frontier west of the
Strumnitza, thence
easterly in
ceded
but that it is
River, follows the water-shed to the west of
the Struma
Mesta
accepted
Saturday.
on
stipulation securing civil and religious liberty to
populations inhabiting territory which may be
the
Conference, threat¬ resignation of Henry Lane Wilson
proposed, the Roumanian
the town of
thence
Bulgaria
next
a
see
in the
Wednesday, M. Majoresco, the Roumanian Pre¬
mier and President of the Peace
ened
desire to
Bulgaria, after fighting
larger share of the territory
Turkey,
expressing
inserted in the Treaty of Bucharest
a
revision
demands of her former allies and Roumania
on
note from the United States Government
from
innocent persons."
upon
323
toward
a
on
sure
a
mission of
his
presence
of
settlement
the
The Mexican Government should await
communication and not-give weight
misrepresentations published in sensational news¬
papers."
to
Ex-Governor
act
as
conduct
way
Lind
the adviser to
as
far
as
will
technically
possible his negotiations in
through the latter.
V
undoubtedly
Secretary Shaughnessy and will
' '
a
formal
Advices from Washington
;
THE
which
bear the stamp of
to
seem
responsibility de¬
clare that Mr. Lind will endeavor to
distinct results;
bring about three
First, h<? yyill seek to
of hostilities pending the election of
secure an agree¬
suspension
aConstitutiona
Second, he will try to persuade Presi¬
dent Huerta to retire from office in favor of
visional President
choice of
secure
of
a
Congress and the estab¬
Constitutional
of calm
resided in
never
&nd does not
government that will
Ex-Governor
Latin-American country
a
However, he is
speak Spanish.
An army
Friday last made
Congress for
an
formal request
a
appropriation of $100,000 for the
Venezuela
and
of 7,000
Thursday.
Dictator,
Trinidad,
Port-of-Spain,
has
that
Capital
Castro
has
the
on
about
opposing
President
reported.
been
yet
Wednesday
on
the
between
Thursday sent to the Senate the
on
Castro.
dispatches from
press
No conflict
men.
against
army
Cipriano
started from
It is stated in
that
announces
left Caracas
men
and President Gomez
troops
The State
of
he, personally, will lead the Venezuelan
former President
judgment and has the entire confidence both
on
Foreign Relations Com¬
consideration
for
Senate
Gomez
President
12,000
Department
the
informally,
owing to the fact that the Senate's time is occu¬
pied with the tariff and currency bills, further con¬
sideration of the treaty with Nicaragua, together
with a number of other important matters, will be
deferred until the regular session."
a man
of President Wilson and Secretary Bryan.
to
of
xctii.
pro¬
Third, he wil
be recognized by the United States.
Lind has
a
elections for the
Constitutional
President and
a
lishment
of which has been before the
mittee
acceptable both to the adherents
of Huerta and the Constitutionalists.
endeavor to
(Vol.
but
ment among the contending factions for a
President.
CHRONICLE
name
Wilson
of Preston
McGoodwin, of Oklahoma, to be Minister to Vene¬
zuela.
transportation of Americans out of Mexico at the
In
a
interview in Mexico City President
newspaper
declared
Huerta
mediation
he
that
would
not
"This", he
said, "is made imperative because of
on
Thursday
adopted
passed by the Deputies
as
Parliament will
promptly adjourn.
now
Parliament session is also
nearly
over
ment thus is safe until next year.
the
July 25.
on
The British
and the Govern¬
The French Bud¬
get just voted provides for the expenditure of about
compromise with the revolutionaries and still less
$960,000,000, but further expenditures of $64,000,000
will I do
of
if such
so
act involves
an
will
ment
friends
we are
of
of
or
flagrant violation
reject
course
This Govern¬
laws.
our
effort, whether of
all
outsiders, to mediate in
our
troubles,
strong enough to bring about peace at
date."
No further action is
the Administration at
full report
a
a
As for the elections, they will
sovereignty.
our
no
be held in accordance with
.
national
our
Military Bill
Senate
account will I make any
On
dignity and decorum.
i
either
accept
intervention of any kind.
or
French
The
of the Government.
expense
an
early
Washington until it receives
The latter will first
to Mexico City to ascertain the exact attitude of
go
General
Huerta
mediation and
the
and
his
followers
incidentally to
concerning the
the view that
express
resignation of Huerta would make possible
If he succeeds in Mexico
truce.
a
City, the President's
reach
;
...
stitutional
a
Con¬
election.
on
Relations
an's
rejected by
a
Foreign
on
vote of 8 to 4 Secretary Bry¬
proposal to establish by treaty what would in
effect be
protectorate
a
over
the Republic of Nicara¬
It is understood that the Administration will
gua,
substantially
Knox
tary
that form it
during
an
of
interocdanic
exclusive
should have
upon
the
was
so
as
to leave
proposed by Secre¬
administration.
Taft
In
provided that the United States should
obtain
an
it
as
a
franchise
canal,
naval base
on
for
that
the
the
this
and
the week's business
educational
towards
after the vote of the Committee made the
Bryan
following
formal statement:
again been
the main feature of the
in the Balkans
was
an
new
issue, which
capital, owing to the negligible results
Cable advices from London report
was
securities
offered
on
July 25 and comprised
the
on
Balkan and kindred
London
Stock
quiet but have reflected in
Exchange
some
degree
improvement in the poltical position in South¬
eastern
Europe.
for the week at
1
Ayres Pacific
compelled to take 60% of the
were
£1,000,000 5% bonds at 98.
State
There
ago.
appreciable restraint in the appli¬
an
Railway issues
Bulgarian 6s closed without change
Greek monopoly 4s advanced
99%.
point to 55 and Servian, unified 4s
change from 79.
without
were
Turkish 4s have advanced 1% to
changed his views as to
Nicaragua treaty, an outline
Imperial 3s
are
cheerful
Paris
In
also 1 point higher at
markets,
likewise,
case
with London, there has been
displayed either
Bank
of
France
no
74.
prevailed
according to latest cable reports, although,
as
is the
distinct activity
the Bourse or the "coulisse." The
on
is
reported to be obtaining gold
supplies in the London market out of the arrivals
of
"The President has not
peace
German
Mr.
.
quieting in¬
whole in the Brit¬
that the underwriters of the Buenos
Bay of Fonseca and
purposes.
as a
a
84% and Russian 4s closed 1 point higher at 90.
Nicaragua $3,000,000 to be used in public
for
Satur¬
construction
certain small islands in the Gulf of Mexico.
to pay
works
on
is customary
Government
In consideration of these conditions the Government
was
as
73%, comparing with 73% a.week
the
conform to the views of the Senators
closed
influence in the latter direction and Consols closed
being and will modify the treaty in such
the treaty
was
,
dency shown in the tone of the security markets.
have ruled
to
■//'
«
..
Monday in August, being Bank holiday
The progress
accept the decision of the Committee for the time
a way as
—
centre, although there was no reactionary ten¬
cations for
Saturday last the Senate Committee
so
expected to
$1,000,000,000.
holiday period seemed to have
fluence
ish
are
Monday, the latter,
on
of recent issues.
On
than
.
the first
on
This
at
armistice and
an
more
■,
The London Stock Exchange
has
about
h
day and also
representative will then approach the other faction
effort to bring
expenditures of 1913
total of
a
I
in
an
withdrav|p from the budget under the form
special accounts for Morocco and other affairs,
that the real
as
likely to be taken by
from Mr. Lind.
have been
of
gold
jrom South
America
and
to
this
extent
London is supplying a demand that otherwise would
have
i'
been
a
•
feature
•
in
the
New
York
situation.
••
Aua. 9
French bankers are,
committed
in
the
but the monetary
is not of
rates,
of loans to Balkan States
situation,
indicated by
as
money
French
Armand
fully $6,000,000
im¬
on an
well
known
forger
as
the
on
showing
sixty-day bankers' acceptances closed at
with
3]^@4%
week
a
is
3%%, though
some
week. In Vienna the current
coipmercial bills
centre "finance bills
Bank rate. The official rates in
tered
discount of the Bank of
on
the
4% from
to
In the Dutch
day
same
was
:
and of
£369,000 in the total reserve.
tion of
reserve
to
The
a
•
propor¬
liabilities is 55.90%, which com¬
this
the year
note circulation is
The outstanding circulation
£27,661,177.
£98,000 and
from
total
the
The reserve aggregates
One year ago it was £28,154,041 and
of
a
against £29,987,790.
does not differ materially
year
£29,956,000
being
ago,
Public deposits were reduced
£1,587,000 and ordinary deposits showed a contrac¬
tion of
£999,000.
000 in loans
There
was a
decrease of £2,203,-
(other securities) during the week, which
brings the total down to £26,988,000.
•
In 1912 it
with
marks
marks-,
1,948,728,000 marks and compares
1,742,600,000 marks in 1912 and 1,586,920,000
with
marks in 1911.
In
local money
circles there has been no special
for funds.
Rates for fixed maturities are in
and
1911
compare
The Reichsbank's outstanding
preceding.
most instances
increased
and
marks
1,101,423,000 marks, which compares with
£39,013,434 and compares with £39,691,831 in 1912
in
reduced
The Bank's cash holdings ag¬
1,158,400,000 marks in 1912 and 946,820,000
pressure
£39,674,922 in 1911.
circula<bills in¬
Treasury
higher.
Combining loans and discounts,/we have
total of
'
£27,507,000.
The loans were in¬
marks and discounts showed anv
1,387,593,000
in 1911.
with 53.84% last week and 48.80% last year
time.
The Bank's bullion now stands at
pares
marks in gold and of
1,261,460,000 marks in 1912 and 1,171,640,000
£271,226 in gold coin and bullion holdings
loss of
at
'
Imperial Bank of Germany,
Saturday of last week, regis¬
8,324,000 marks and deposits were
gregate
Thursday
•.
on
115,080,000 marks.
similar change
-■/"/
published
122,717,000
was
creased
weekly return the Bank of England showed
In its
a
a
and
1911.
decline of 27,468,000
a
tion
made by the Bank of Bengal
■;>"
at Calcutta.
on
was
3% and
1912
expansion of 23,917,000 marks, while note
leading foreign centres
Bombay
was
creased 39,211,000
6%; Brussels, 5%, and Amsterdam, 5%. The rate of
advanced
in
francs
77,006,000 marks in total cash.
4%; Berlin, 6%; Vienna,
London, 4^%; Paris,
are:
1,503,133,000 francs, com¬
1,073,842,332
with
"The statement of the
which
private rate being 5^%, which is %% qver the
the
in
The total circulation has increased\this
1,013,992,191 francs in
being discriminated against,
are
francs
preceding.
year
business
on
quoted at 4^%.
are
the
5,510,479,000 francs,-from 5,117,923,695
in 1912 and 5,046,045,050 francs in 1911,.
paring
5%; in Brussels 4 7-16%, and in Amsterdam
lower at
now
year ago
806,475,000
with
compare
while discounts stand at
Friday of last
private bank rate is Y
4%% against 4J^%
One
to
francs
In Berlin the private discount
reported at 3%%.
rate closed at
3%@3%%,
The quoted private
ago.
bank rate in Paris is still
Bank
The
comparisons with the figures of a year ago, are
year
closed at 2^@3%, comparing
Money in London
and advances increased
845,625,000 francs
still poor.
3%@4%, comparing with 4@43/£%.
bills closed at
General deposits
Treasury deposits
outstanding circulation and discounts, however,
In
the
with 3%@4% a week ago, and long
which compares
de¬
The silver holdings aggregate 638,656,000
and
1912
In Lombard Street
easier tendency.
an
francs,
7,725,000
francs.
and
francs
though private bank rates are
a
holds 3,364,the amount!
3,289,175,000 francs and in 1911 3,173,600,000
was
European official banks are still maintaining
The
their discount rates
reduced
francs.
presentation of forged orders.
statement,
francs in note circulation and of
774,000 francs in gold.
Paris dry goods stores induced the
millions of francs
of 166,350,000
21,675,000
was
aviator
an
ndustril et Commercial to advance him many
Credit
crease
a
decreased 26,150,000 francs
the strength of fictitious deals
and inventor, who on
with "prominent
The
situation.
banking
Duperdussin,
The
whole, is satisfactory, indicating
as
were
portant bank produced some added nervousness in
the
silver.
in
francs
11,215,000
taken
The discovery of 338,050,000 francs in discounts.
tension.
severe
estimated at
forgeries
of
it is declared, rather too liberally
way
325
CHRONICLE
THE
1913.]
figures of
a
fractionally lower at the close than the
week
Secretary McAdoo has not
ago.
yet deposited Treasury
West
On
and
funds in the banks of the
South, but will do so in the near future.
Thursday the Secretary held a conference with
Southern banks to consider the
representatives of
most
advantageous
More
than
Southern
he held
a
one
citiesl
similar
way
hundred
of
making the deposits.
bankers
from
thirty-six
Yesterday (Friday)/
conference with bankers from all the
were
present.
£33,613,567 and in 1911 £26,527,800.
The 'crop-raising States of the West, which was. similarly
The general understanding seems to
Bank on Tuesday (Monday being a holiday) se¬ well attended.
was
cured
£500,000 of the £700,000 South African gold
offered at the usual
mainder
I
being
weekly London auction, the re¬
purchased
for
India.
Our special
be that
$20,000,000 of Government funds shall be
ready for deposit with Southern and Western banks
this
month, another $20,000,000 in September and
if
in October.
Of the
correspondent furnishes the following details of the
$10,000,000
gold movement into and out of the Bank for the Bank
funds
week: Imports, £1,102,000 (of which £'102,000from
25% by Jan. 15, 25% by Feb. 15 and the remaining
£100,000 from
Egypt,
Brazil
and
Argentina,
£534,000 bought in the
exports, nil, and shipments of
interior of Great Britain.
'■
crease
open
market);
A
of
France
reported
a
25% by March 15.
Of the amount allotted to each
bank, 50% shall be deposited in August and 50% in
amount if it
j
still further
of 2,561,000 francs in its gold holdings
from
necessary,
£1,373,6$P net to the September. This will leave the $10,000,000 assigned
for October to be distributed as an independent
*
:
The Bank
£366,000
more,
deposited, 25% shall be returned by Dec. 15,
in¬
land
shown by
should prove to be needed.
The interest
the Secretary of the Treasury in the money
situation has created the impression
thatTt will be
326
the
CH IONICLE
THE
policy of the Administration to utilize to the
fullest
all the
extent
prevent
of the
resources
Treasury to
stringent condition developing
a
of the seasonal demands for funds to
as a
result
the crops.
move
quotations
[YOL.
are
xgyii.
6@6J4% fc>r sixty and ninety days'
endorsed bills receivable and for four to six months'
single
at
of choice character.
names
Others
quoted
are
6%@7%.
Among the banks of the West and South the action
of
the
In
Secretary has been well received, and in
New York there is
special criticism of the transac¬
no
sterling exchange there have been few features
this
week.
market has been
The
;
tion except the general one that it was not necessary.
quiet
The
day and Monday, wliich
banks
funds into
have
The
city in
Mr. John J. Mitchel
published interview expressed the
a
they
public funds.
higher during the next few
at present, and would not have
are
in
a
better
absorbing
anticipate
October,"
nessed.
the last fortnight wit¬
On the contrary, rates may
a
finance
from
in September and
money
"than
during the next few weeks,
the
and
become easier
European bankers
as
position where they
bills
do not
"I
of funds.
amount
he said,
getting into
liquidate
are
are
willing to buy
indebtedness
some
large balance of trade that has accrued
within the past year."
significance.
There has been
bills, but
no
fair supply of
a
than the market could
more
comfortably absorb, and European bankers
willing to accept bills whenever offered.
are very
The grain
movement, and in fact the export movement
Mr. Mitchel showed that the
On
the
by the
other
congested
as
is
effective.
seems
no
far
accurate basis
but it is considered
new
these
tariff
accumula¬
on
this side
probable that they have already
change transactions.
course
of
There have been
demands
the American gold
on
quite
are
apparent for judging,
been remitted for in the usual
of France and cable
Banks,
How
tions of merchandise have been financed
there
rates.
by the tariff, but
being kept in bond until the
become
rates
a
still
result of the large importations of
merchandise that will be affected
which
as
are
tariff
hand, bonded warehouses
a
present demand for money is not urgent but merely
large volume of general business.
of lower
approach
reflected
a
August dividends
restricted
speculation in stocks is not
Satur¬
the week's movements have been with¬
position to meet crop-moving demands
higher rate for
a
out
finance
on
somemeasurre
whole, continues active, while importations
great
a
due in
was
to the demand for remittances of
and coupons,
particularly
a
moderate rise
a
New York banks, Mr. Mitchel argued,
than in former years, as
our
some
higher had Mr. McAdoo not decided to deposit
gone
are
well
are
view is entertained to
same
belief that rates will go no
months than
and
crop season
by bankers in Chicago.
of that
their
getting
consistently
shape for the
prepared.
extent
been
and, aside frpm
one
sterling
no
ex¬
additional
supply by the Bank
dispatches from Paris
the
say
he said, were extending regular customers' accom¬
Bank has been
modations to finance actual
for the South American
gold that has been engaged
for
some
was
needs, but
being shown to loan for
Mitchells
views
agree
new
New -York bank officers.
Mr.
closely with those of
very
portant capital demands
inclination
no
enterprises.
There havo been
upon
im¬
no
the market this week
that furnish any accurate indication of the attitude
of
lenders.
Saturday's bank statement indicated
a
the
loans
indicated
an
week, while deposits
curtailed
Thus,
the
while
The
increase, of $2,890,000 for the
were
reserve
the
requirements being $26,208,-
with $20,398,950 in 1912.
compares
reduced $7,058,000, which
requirements by $2,081,400.
cash
reserve
$4,031,000, the reduction in
itself
reserve
was
curtailed the reduction in cash surplus to
$1,949,600.
,,
Call money rates during the week
as was
the
while the
234%-
234%
day's
case a
within
a range
confined,
of 2@234%
ruling rate each day has been quoted at
On
was
week ago,
were
Tuesday,
Wednesday
and
Thursday
the highest and 234% the vlowest.'
range was
2@234%.
Time
money
rates,
Fri¬
as
al¬
ready noted, close at fractional declines, final quota¬
during the week, which
easing
are
up
a
London
check
compares
in
rate
Paris
closed
with 25^24% frs.
a
20.46J4 marks, comparing with 20.4734 marks
week ago.
I
Berlin exchange
Paris,
on
as
reported
by cable last evening, closed at 123.35 frs., which is
advance of 5 centimes for the week.
an
Compared with Friday of last week, sterling
change
4
at
and
Saturday
on
was
8660@4 8670, cable transfers at 4 87@4 8710
sixty days at 4 8315@4 8325.
erations
were
On Monday
holiday in London, but the market ruled firm and
advanced to 4 8665(5)4 8675 for
4 8715
for
cable
sixty days..
Tuesday
transfers
and
demand, 4 8705@
4
8325@4 8335 for
The decline in London discounts
caused
some
weakness
in
sterling
demand receded to 4 8660@4 8670 and sixty
months
(also
been in better
have
bought
unchanged).
Commercial
paper
has
supply and banks and other buyers
more
freely.
How much of this
can
be
traced to the announcement
4
8305@4 8315,
although
cable
unchanged at 4 8705@4 8715.
ing
was
5
spectively; sixty days
the
chief influence
was
Closing
was
counts in London due to
South America,
on
re¬
firmer at 4 8?10@4 8325;
the easier
4 3660 and cable transfers at 4
question.
On Wednesday trad¬
transfers, which declined
in the situation there
no
days
were
points to 4 8655@4 8665 and 4 87@4 8710,
weak
be
transfers
on
here;
dull and featureless at slightly lower quota¬
tions for demand and cable
by the Secretary of the
Treasury that he will accept commercial paper as se¬
curity for the deposit of Government funds, it would
be difficult to say, but that there is some
improvement
can
op¬
somewhat restricted, owing to the Bank
to
(unchanged) and 5%@6% for six
ex¬
firmer, with demand quoted
tions being 334% for sixty days
for five months
at
week
and at Berlin the demand sterling rate closed
ago
at
The
frs., which
week
(against 3J4@4% a
ago), 4J4% for ninety days (against 4%@5%),
5% for four months (against 534@534%),
6%
sug¬
somewhat
The Continental exchanges have continued irreg¬
.
reduced
requirements
of which has already
shipment of $200,000 in. gold reached
in the Dominion.
25.25
100, which
centre,
gests that monetary affairs
ings of the banks and trust companies in the Clearing
reserve
A
competitor in the London market
New York from Canada
ular.
above
British
arrived.
loss in the cash surplus of $1,949,600, the total hold¬
House
a
tendency in dis¬
gold importations there from
The market
was
dull and continued
Thursday; demand closed lower
at 4 8650@
8695@4 8705; sixty
Am 9
THE
1913.]
tions
are
4
firm
nized that the situation in American finance has been
Closing quota¬
greatly complicated by the financial disturbances in
On Friday the tone
days ruled unchanged.
with business still extremely
limited.
was
8325@4 8335 for sixty days, 4 8660@4 8670
for demand and 4 8705@4 8715 for cable transfers.
Commercial
for
ments
on
"banks
closed at 4 81 @4 83,
closed
4
docu¬
payment finished at 4 82% @4 83
7-day grain bills at 4 85%.
4
at
327
CHRONICLE
and
Cotton for payment
82%@4 83; grain for payment 4 83@
83%.
have had at home—the tariff
we
dispute—but with
aspects of political
reasonable
to
that
expect
financial markets
our
European strain been indirectly imposed
the
'
But
New
York
Clearing-House banks, in their
operations with interior banking institutions, have
gained $6,523,000 net in cash
as a
result of the
movements for the week ending Aug. 8.
rency
cur¬
Their
receipts from the interior have aggregated $13,647,000, while the shipments have reached $7,124,000.
Adding the Sub-Treasury operations, which
sioned
loss of
a
$5,836,000, the combined result of the
flow of money into
and out of the New York banks
for the week appears to have been a
000,
occa¬
gain of $687,-
fpllows:
as
Week ending
Into
Out of
Net Change in
Banks.
Banks.
Bank Holdings.
Aug. 8.
Banks' interior movement..
;
_
Sub-Treasury operations
-
Total
$13,647,000
20,015,000
$7,124,000 Gain
25,851,000 Loss
$6,523,000
5,836,000
$33,662,000
$32,975,OOP Gain
$687,000
in the
England, France and Germany sold back
stocks and bonds to
amounts; its gold imports from this country for the
seven
months ending with July footing up $43,500,-
000, whereas in no full year of the decade past have
our
gold shipments to France exceeded $30,000,000,
For the particular period under re¬
At the
time, the London market has been closed to
except in 1904.
view, the movement is quite unparalleled.
same
the recourse of
obtaining of funds for ordinary finance plans.
§|This is the^obvious reason why^a change for the
better in the
to
Russian..
Spain
Italy d...
....
Netherl'ds
Nat.Belgd
Sweden
..
Swltzerl *d
Norway..
.
Aug
8 1912.
Cold.
Silver.
Total.
Gold.
Silver.
£
&
£
£
£
39,013,434
134,591,440
56,461,050
161,662,000
60,568,000
18,417,000
46,150,000
12,274,000
7,814,000
5,701,000
6,739,000
2,512,000
39,013,434
25,543*.*120 160,134,560
14,200,000 70,661,050
7,795,000 169,457,000
10,741,000 61,309,000
29,865,000 48,282,000
3,400,000 49,550,000
642,400 12,916,400
3,907,000 11,721,000
5,701.000
6,739,000
2,512,000
39,691,831
131,666,720
46,692,900
153,498,000
51,713,000
17,069,000
42,385,000
12,026,000
6,730,000
5,319,000
6,743,000
2,186,000
Total.
meeting, in regard to this change of foreign
£
32,^58*,600
39,691,831
163,825,320
63,457,850
161,671,000
63,803,000
47,065,000
16,864,950
.8,173,000
12,090,000
29,996,000
3,650,000 46,035,000
915,200 12,941,200
3,365,000 10,095,000
5,319.000
6,743,000
2,186,000
Sir Felix first referred
sentiment.
economic results of the Balkan
somewhat
ture of
vated
Continental banks.
The
proportion so held, and consequently duplicated In the above statement, Is about
b The
Kronen has really no greater value than 20 cents,
our cable
As the
correspondent In
London, in order to reduce Kronen to Pounds, has altered the basis of conversion
by dividing the araount of Kronen by 24 Instead of 20.
d The division
weekly
it Is not claimed to be accurate, as the hanks make rio distinction in tbe
returns,"
division
we
merely reporting the total gold and silver;
make is
a
on an enormous
but
we
believe
public
longer to take
up
IDEAS
ON
fact that it
in their
EUROPE'S
FINANCIAL
SITUATION.
was
markets
trade
foreign markets toward the general financial situa¬
new
tion
political
growing less apprehensive.
The
signed for this gradual change of attitude
causes as¬
were
varied.
tributions; absence of the expected troubles at Ger¬
many's mid-year settlements, and, latest of all, the
turning of the gold movement from outside markets
on
the salient influences.
Whether due to
one
of these
may
be
summar¬
to all of them
than
recog¬
the
American
In these
market activity
was
of
doing so at a moment when
causing financial hesi¬
was
a
been, Sir Felix proceeded to set
prodigious shrinkage in value of the
very
Exchange securities; 387 of such securities
showing
a
fall in value during
£130,000,000, of which
no
less
£88,000,000 occurred in the month of June alone.
But in this consideration Sir Felix found the
The
process
avenue
of liquidation, of releasing
capital through the Stock Exchange, had been trying
way
It has been abundantly
requisitions from her
the money market..
the London market
those
Europe.
in
Germany, which had
enormous
on
the first half of 1913 of
and
of
money
monetary strain of great severity,
uncertainty
best Stock
combined, the change in sentiment is distinctly im¬
our own financial markets as well as to
portant to
the
absorbing capital in competition with such
was
of relief.
i
causes or
and
The result had
forth,
as
a
securities, and
regarding Balkan affairs; flow of capital into the
money markets through midsummer dividend dis¬
distinctly toward London—these
among
tation.
Continuance of harmony among the neutral Powers
ized
unable
or
offers of such securities.
itself financing the Balkan States
was
Government
fact, since tbe beginning of July—tbat the attitud e of
was
either unwilling
new
huge expenditures.
burdened with
own
bas been apparent for some weeks past—in
It
was
the
markets, had been heavily handicapped through the
ended 1912 with
NEW
new coun¬
Early in the past half-year, it became evident that
the investing
the
close approximation.
aggra¬
scale."
Paris, usually the strongest point
(between gold and silver) given In our table of coin and bullion In
the Banks of Italy and Belgium la made from the best estimates we are able to.
obtain;
growth and development of trade and of the
The reduction of the former currency to sterling
by considering the Gulden to have the value of 80 cents.
was
The strain
the world's capital was
on
tries, demands for capital from various directions
Austro-Hungarlan Batik statement Is now Issued In Kronen and Heller
Instead of Gulden and Kreutser.
Pounds
loss in killed
by the fact that, "owing to the continuous
have been
one-ninth of the total this year, against about one-sixth a year ago.
a
and in capital expendi¬
The effect of such expendi¬
£246,000,000,
95,947,553|638,610,330
gold In the Bank of Russia includes the balance held abroad—
men
actual
the
ture, he observed, is of itself incalculable.
Prev.week
107,312,750 622,833,201
514,563.659 107,741,010 622,304,669
348,000
to
struggle, citing the
extraordinary figures of
and wounded of
imposed by it
The total of
Sir FeUx
recognized high authorityton financial
a
96,093,520!637,996,444 515,520,451
542,562,777
^
affairs, addressed his shareholders, at their recent
Tot. week. 541,902,924
•
markets, expecially in view of the ap¬
Schuster, Chairman of the Union & ^Smiths Bank of
that Is, the amount held tot Russian account in other
*
European situation is of high import¬
our own
principal European banks.
annual
Aus.-Hunb
large American borrowers who have
habitually been accommodated there, and this has
affected both the market for new securities and the
London and
Germany.
our
enormous
proaching periodj[of autumn stringency.
Aug. 7 1913.
France
us
following table indicates the amount of bullion
Bank* of
England.*
in
quantity. France
gold from New York in almost unprecedented
drew
ance
The
of great
would have resisted such domestic influences, had
on us.
The
a year
agricultural prosperity behind us, it might have been
not
V''
■
Troubles
Europe.
controversy, the currency uncertainties and various
disagreeable; fyet it brought with [it two other
considerations—first,] that it relieved in the quickest
the actual strain
upon
the markets;
second,
338
THE
that it
placed
banking institutions in
even
a
CHRONICLE
OVERMUCH
acquired with a
substantially greater earning value. Making due
set
in, and when the
will be
rapid
as
This
all this Stock
was
based in part
on
brought about
fulfilment of such
no
occasion appears to
this direction.
In
exist for
fact, it is
any
alarm whatever in
for considerable
a cause
satisfaction that credit has been
little disturbed
so
by the events of the last few months."
to the extensive
preparations made for the autumn
be taken for granted that these demands
will be felt with less
severity
has been recognized."
of the monetary
now
taking
be
autumn than
This
Tests
;
now," Sir Felix boldly predicts
confidence."
the
possible credit entangle¬
great Euroepan
markets, have not
second, that Stock Exchange liquida¬
already released such
and,
as
siderations,
autumn
a
consequence
that
partly
a
are
of
con¬
finding
now
very
as
so
to speak, over-
emergency,
partly because
their
actual
because the actual needs
preparations,
of
the
situation
turned out to be far less than had been feared.
a
as
few months
very
of the two other
financiers;
the' extensiveness
of capital
sums
approaches that they had,
prepared for the expected
of
First, that the
apprehended at the time
were
fairly to fill the void existing
ago;
in
private
and
the
twenty
years
steady increase in the
a
intimately;
by saying that it is
To
.large extent this reasoning commends itself.
The Berlin midsummer settlements—in
financial settlements
confirmatory
fact, the July
all markets—were
on
evidence.
The
recent
strongly
in
recovery
govern
those
might
con¬
we
movement to let
a
furnish the capital at risk and pay
owners
the bills while Government
and
last
things and to
govern many
drastically
dense this
prescribes the methods
regulates the receipts.
this has been
Under this (or while
proceeding) general content has been
souring
discontent,
into
indications;
have
not
happiness
increased;
according to
and
equality
complaints
all
in
against
Still
more
louder
behalf
on
and
general than when
time
disclose
to
and
more arms
must
we
of
louder.
we
common
is
give them
we
must
tighter clinch,
a
writers' hands at
ago are now
on
under¬
heavy discount several months
a
selling at
premium both here and in
a
London, and the absence of
any
serious credit
com¬
Some of us,
who
have
man
scratches his
probably the greater number of those
the
longest observation and experience
way
hoping to
persons
it taken
see
Such
soon.
out and
believe the country is suffering under a plague of
are at Once too
intrusive, too inconsistent,
impossible of working, and too many in num¬
too
ber; that
least
being "lawed" to
are
we
of the
some
and workable
thoughtful
more
markets discover that the crisis had not
more
than
prepared for but
than had been
less serious in itself
was
expected, general resumption of cheer¬
fulness
and
usual.
How far it will go
things.
only been
of
a
forward
movement
in
finance
always depends
on
is
other
The questions of doubt which surround the
present situation, outside of purely political consider¬
ations both here and
abroad, are the extent to
which the
tal
by
enormous
governments
and
crushing demands for capi¬
and
corporations
merely postponed, not removed
ence,
and
and the extent to which
strength,
as a
a
have
been
financial influ¬
small
pending income-tax and
bills; but
we
revival of activity
the least
practical knowledge of
currency
subject
a
are
most
prolific in theory about it and most presumptuous
in
proposing
is
the
not
sweeping
strange
of
root
trouble
the business man has
that he
its
is not
meat?
of
"in"
In
the
so
until
they
ancient fable
came
nothing else to do.
indifference,
often
omits
or
even
told in the Book
king and could find
a
to the bramble, which had
Our
of business has his
man
disgust,
to
man
share in
vote, and
cry
and
advantage
the professional
so
It has
about
come
of business is decried, and if be sought
governing
a
office; out
discouragement, he
or
politician dominates everything.
that the
But
fact that
strange
little share in government;
Judges, the trees sought
none
experiments.
the
politics but is its subject and
or were
raised that he
was
proposed for it there
seeking
was
hostile to the
a
selfish
common
good.
The
importer, the large builder, the manufacturer,
the
large merchant, the banker:—would there not
be
clamor raised that any
a
of these would seek
some
selfish interest and bend government and legislation
to his
in
own
profit if he
were
permitted to have
a
share
governing?
His
ability
The banker
or
would not be
questioned,
however.
the merchant would seek to conform
public operations to the natural laws of banking and
business which have stood
through many centuries.
changes cautiously, testing one at a
time, instead of rushing to make over at once the
He would make
whole basic structure.
have caused the improved conditions.
grinding
At
reason
should remember that those who have
theStock Exchange and in general
finance, would offset the remedial influences which
on
peril.
our
see
in the present treatment of rail¬
sense
roads and in the
a
predicted crisis arrives, and
are
doubtless
laws which
would be
a
honestly
can
both, think the latter is the only
plication in either hemisphere, further support the
When the hour of
sprout
whether
or
...
general theory of Sir Felix Schuster..
"
less
learn to revert to the early
field, in which each
of
securities left
grow
governed less; it is for
were
fact that
new
more
people
work to do and he cannot afford to take
of the
the
certainly
whether Government
struggle until
natural free
the
Satisfaction
nearly all Stock Exchanges, home and foreign, the
some
surface
condition
fortunate, class jealousies, and demands for doing
coming six months
■;-V' -V'.
depression, regarding both Europe's inter¬
materialized;
has
that
win.
are
national relations and the
tion
EX¬
they
worst things which
on
THE
besi for himself and is protected in all he
three main considerations:
of acute
AND
hardly expected to be lower during the
exceedingly interesting prediction obviously
on
ments
alarmist view
an
policy," and "while
that "we may look forward to the
with every
seems
situation," and although it "will be
advisable to pursue a cautious
can
that the situation
In conclusion: "There
whatever for
no reason
rates
Referring
market requirements, the prediction is added
money
that "it may
to be
"No
rumors.
undeniable
attempt to
more
-;vV
the fact that
regarding credit, had
rumors
is
especially there has been
soon
Exchange liquidation, although accom¬
panied by alarming
It
takes place, I believe it
recovery
the fall."
as
prediction
"the reaction must
GOVERNMENT
CLUDED CLASS.
considerations, he made the
confident prediction that
xcvii.
position
where standard securities could be
allowances for both these
[Vol.
the
mass
He
would
revise
or
repeal
of existing statutes, rather than insist on
out
hundreds
more
at
each
legislative
Atjo. 9 1913
session.
has
rendered
not
for
As
THE
He would not
ever
tion is
.J
imagine that
any
CHRONICLE
lawyer who
professional services to
a corpora¬
properly eligible to the Federal bench.
his
comparative
position would itself be
self-seeking,
his
official
sacrifice than advan¬
more
gressional
the pay
that, by getting
he
might insure
chunk for his
a
re-election.
a
according to reasonable
home district,
own
In shaping legislation
and
sense
justice and in
committee
carrying mails and the
In
statement
itself
"in" it ?
car
space
forced upon
to
as
MAILS.
or
The notice served
Oct.
1
it
will
the
by
stead of
Railroad that
on
this
mail-carrying
as
an
brings into public notice,
prominently than
mere
un¬
more
remonstrances have been able
do, the strenuous injustice of the postal service to
the roads at present.
unfulfilled
an
It is said that this road has
which
contract
it
cannot
lawfully
abandon; in rejoinder it is said that the Government
has
itself
broken
under it.
the
contract
The last straw
by adding burdens
room
in their
distance;
sta¬
own
sorting mail,
well
as
weighing
But
quadrennial weighing in¬
As
every year.
illustration of
an
injustice, the printing of stamped envelopes and
changed from New England to Dayton,
Ohio, just after the weighing in that State in 1907,
wrappers was
with the
result
that the
roads which
then
had to
this material received, nothing for doing it,
carry
while those that
relieved from
were
tinued to draw pay
for doing
gone
along for three
drew
a
so;
carrying it
con¬
then, after this had
the Government with¬
years,
large portion of this material from the mails
these, burdens is laid
and
shipped it
by the raising of the limit of weight in the parcels
and
unrecognized increased service during the quad-
post to 20 pounds
rennial term has been
on
the 15th of this month, and if
on
this service is to benefit both Government and the
,
people, it is time
issue
an
raised against taking
were
The
The claim of the roads did procure a very
slight
concession about four months ago on account
of the
additional burden
imposed by the parcels post.
this concession permits
begun,
there
not
no
has
been
amount
more
service is
that to the postal
instead of
more
It
than
the increased
as
carry
and
outlay for carrying it, and in just
carrier roads transport
pay
some pay
companies.
so
business it makes the
without
they have been receiving
for this unweighed
proposed; yet
of these
may
years,
in face of the natural and
a
day.
a
rule
or
and
increasing
seek
to
service—who
would
Mails
carrying, the roads further
say,
tarily performed,
law compels
company to carry
the
courts
"for
15 millions
a
year; a
official, put the loss
should
it
how far
may go.
a
be
previous estimate, not exactly
as
high
50 millions, although
as
remembered that
new
and
underpaid at least
are
The outcry
nobody
so
on
terms named by the
of enraged protest which would
can
are
be left to
imagination. What
something
were
on
the
as
well
LEHIGH VALLEY REPORT.
subject issue
saying that their complaint "is
payment whatever."
Government paid the roads
In
a
1912,
little
for mails carrying, which
they
over
was
say,
the
51H millions
about 21% of
postal revenue; but in 1901 they received 34% of
postal revenue, and in that year the joint Con¬
owed
Is it not
said of corporation rights
The
Lehigh Valley RR. is the first of the larger
companies to submit its annual report for the fiscal
improvement in income
the
any
corporation duties?
as
year
all
duty and
something being owed in return.
of service is demanded for which the nation makes
year
But
always reciprocal; nowhere is
against the standard of measuring such mail
service as is paid for, but that a
very large amount
a
go up
roads should follow the example of the Toledo
foresee
not
no
so;
growing branch of postal service
The roads' committee
another statement,
can
railroad
language would be uttered about the duties and
without
time
a
•
obligation
plaint, declaring that they
service volun¬
a
hold, however, that if the railroads do
Government."
stern
no
is
mails unless it contracts to do
contract, they must do
if many
excuse
justify it elsewhere?
obligations of "common carriers."
com¬
rational
any
private business would accept
A fixed and immovable compensation for
unlimited
it
as no
pounds, for
example) the roads jenew their
perhaps lead to
arrears.
post is talked of (by raising the weight limit to 100
one
award
a recent
test weighing of mail matter
pay upon a
in four
St. Louis & Western
further development of the parcels
as
once
tolerate
that for which
from the private
-
Now, just
■
ways:
some
pay
constantly growing, is without
an,
say once
No
impregnably strong point is that fixing the
and is such
for
It is only just to
it cuts into the express
is
It will
parcels post hits the roads in two
freight.
constantly-proclaimed fact that the postal service
whereas
heavily adds to the matter they must
far
only
1912.
receipts; besides, it is discretionary
of
lump total of
millions,
expected to add ten times
mandatory.
that the
two
year now
roads where
on
re-weighing since
a
to
the increased
adding, in the fiscal
than 5%, except
more
But
as
by the Chicago & Alton
won
recovery
this gain out of the revenues of the carriers.
,
quarter mile, and
a
provide mail-receivers and mail-catchers.
Postmaster-General
Western
discontinue
profitable service
to
on
Louis &
carry
stations
own
connections within that
the greatest burden is the
the Toledo St.
made to
are
post offices and their
tions for transfer clerks and for
PROPER COMPENSATION FOR CARRYING
at all.
any pay
the roads for free transportation when
required to provide
are
is
used is paid for; postal employees
charge of mails; the roads
between stations
they
pay
large and increasing
a
when the distance is less than
..
cars.
part of the service rendered is without
mails between
sees
of postal
use
10%, and
by reductions for
more
just issued is not that the rate of
administering public office generally, would he not
place for what he
cut of about
a
inadequate, but that
Not all the
are
pronounced
substance, the position of the roads in their
be less
who values
investigation
Congress cut off about 5%
not in
self-seeking than the professional politician
of
then allowed not excessive; yet in 1907 the
Postmaster-General ordered
tage, since he has other jpatters for attention; at least,
therefore, he would not be likely to join in the
log-rolling parceling of what is dubbed "pork," so
339
ending June 30 1913.
months
as
It shows
a
substantial
compared with the twelve
preceding, due to the better trade conditions
prevailing throughout the
country, but
more
par¬
ticularly to the fact that the anthracite coal traffic
was
ily
restored to the normal after
reduced in the previous
having been heav¬
year
by the
suspen-
•
330
sion of
mining during the whole of April last
the greater part
The
■
CHRONICLE
THE
of May.
and
year
[Vol.
parison is extended further back, the
becomes still
1
really noteworthy feature in
the
report,
train load
A further rise in the ratio of
average
for
decidedly
as
operating
expenses
review
under
year
to
comes
surprise in view of the large gain in
a
receipts (by
gross
the
reason
of the circumstances already
enumerated) and the fact that exceptional conditions
had existed the
reaches
previous
year
to swell the expense
The addition to gross for the
accounts.
$1,749,866 has been
$6,137,436, but only
carried forward
tation of
twelve months
gain in net, owing to
as a
$4,387,570 in the
an augmen¬
As
expenses.
result the
a
ratio1 of expenses to revenues was raised still higher,
.bringing it
to 67.62%, against 66.98% in 1912,
up
62.11% in 1911 and 59.95% in 1910.
sons
serve
as
years
we
operations
carried
are
In three
on.
the ratio has risen from 59.95% to
see
•67.62%.
reminders of the difficulties under
new
which railroad
Such compari¬
latter also continued to
and these
rise, the addition in the late
having been $135,193, thereby further cutting
down the
Thomas
gain in net to $1,625,703.
For the year
under review the
aggre¬
gate of the taxes formed 3.74% of the company's
operating
revenues.
the last five years taxes
whereas
little
the
gross
21%.
over
It is pointed out. that in
have increased
43%,
over
have increased Only
revenues
a
"A further serious burden which is
reflected in the cost of
transportation", he continues,
"is the wages of the additional
men
arbitrarily required
result of the legis¬
be
the
on
non-dividend
and financial
to pay
on
trains
as a
that
are
now
passed in the States of New York, New
-Jersey and Pennsylvania.",
operating cost has occurred in face "of
the net income from the
761,828, leaving
year's operations
the available net income
year
leaving
a
$8,-
was
In the previous
only $6,813,020,
was
much smaller surplus above the dividend
requirement and it is obvious that, except for the
and
uninterrupted outlays made for improvement, the
to-day would not
prospects
efficiency.
a
continued
In the late
year
the
before
same way
company's record
the
an
and which
enviable
added' accomplishment
of
one,
1913.
development of traffic in all directions.
of
revenue
for
was
record.
on
This
the merchandise
The
aim
has
is owned
15.54% and the addition to the
21.47%.
one
mile
The increase in the miles
freight, trains,
however,
that there
was
an
run
by the
14.79%.
^The
addition to the average
train load df almost 33 tons,
a consequence
only
was
less
no
bringing it
there
was
up
to 599
largest
not
passenger
earnings.
only to increase the total
done, but to secure
a
greater diver¬
achieved.
It should be stated that
by the railroad company) for the twelve
records
income of
net
a
charges
funded debt.
for
$1,471,275, after
royalties,
sinking
and interest
The coal company
is
a
funds,
the
on
separate com¬
and its surplus does not show in the accounts
pany
of the railroad company.
The
bookkeeping
company's
capital stock
of
of
the
Coxe Bros. &
was
methods
are
very
profit and loss account
further reduction
a
A similar reduction
so
was
Each class
very
Lehigh Valley Coal Co. (all the stock of which,
this
freight carried
the
year
traffic, and this desideratum is being
in great measure
the
late
freight and the
been
sification of the
the
applies alike to the coal freight,
volume of business
With the great increase in traffic which occurred in
inumber of tons of freight carried
V
Another factor in the road's progress has been the
the late year
the addition to the number of tons of
or * en¬
;Vv-:vr %•■'
note
previous achievements in the
bright
appear
viable.
the
As
For the late
per annum.
ample surplus.
an
conservative and in the
jtons.
during the
was
period of physical
a
reorganization) instead of being able
further advance in this way was particularly
marked, and it deserves especial mention because of
was
less
these dividends called for $6,060,800, whereas
year
the
result
(as it
put through
was
depreciation • of the property
particularly noteworthy is that the rise
advance in, operating
than
list
dividends of 10%
deducting
even
no
■
period when it
have been
^had made
599 tons,
company is in a prosperous condition, but this
entirely due to the high standard of operating
efficiency attained, except for which it might now
months
in
was
freight,*
The
v
lative enactment of the sp-called full-crew bills which
What is
company
is
President E. B.
again calls attention to the continued growth
in these taxes.
gross
than 620 tons.
freight
revenue
load, including
high standard of efficiency developed and the large
'
This is before the deduction of the taxes,
.year
train load of
and the total
average
only 384 tons and this, apparently,
freight; for 1913, as noted, the
was
included company
revenues
made
progress
impressive, for in 1898 the
more
however, is the continued increase in operating costs.
gross
xcvii.
we
book value of the
Co.
of $980,362.
made in the book value of
property in each of the five preceding years,
that altogether $6,000,000 has been charged off.
As
indicating the large outlays that
for the
are
being made
improvement of the property, it should be
observed that during the year under review there was
expended for the acquisition of
the
new
property and for
improvement and development of existing
prop¬
erty the sum of $6,507,721.
The
another increase
company's finances remain in excellent shape.
in the earnings of the freight trains per mile run, this
Two years ago
being for
of cash
through the issuance and sale of $20,000,000
of
stock.
1913 $3 78, against
$3 55 in 1911.
The
per ton per
1912! and
improvement occurred in face
of another decline in the
average
$3 65 |in
average
earnings realized
mile and it deserves to be noted that this
for the Lehigh Valley is
very
low, having
new
it
This advantage it still retains.
amount of cash
tional
supplied with large amounts
was
on
proportions
hand is
as
it
was,
no
longer of such
The
excep¬
but is nevertheless large,
being for June 30 1913 $13,149,152.
At the
same
been for 1913 only 6.32 mills per ton mile.
The rise
in operating cost occurred in face of this
time
efficiency of operation.
together with accounts due and receivable, and other
growing
In the report for 1910 President Thomas directed
attention to the increase in the average train
load
the
company
$17,211,000 of its
items
assets up
ties aggregate
crease,
first to 544 tons in 1911, then to 566 tons in
1912 and
now
to 599 tons in 1913.
When the
com¬
securities and
these two,
(including $3,865,345 of materials and
In the three years since then there has been
in¬
own
plies) brings the total of what
from 485 tons in the year 1903 to 542 tons in 1910.
an
holds unissued in its treasury
no
more
were
sup¬
called working
to $37,626,183, while the working
addition there
but not
are
liabili¬
than $5,348,676, though in
$4,537,091 of liabilities accrued
due, including the dividend due July 12 1913.
Aug. 9
1913.]
THE
CHRONICLE
331
feature
favorable
Southern roads.
with
generally, however, and having regard to the railroad
HALF-YEAR.
system of the whole United States, the generality
With nearly all the
there has been
leading conditions favorable,
large increase in the
a
gross revenues
of United States railroads for the six months
June 30
industries
in 1912
ending
of influences and conditions
During this period in 1913 the country's
in
were
they
state of
a
great activity, whereas
only partially
were
and
so,
the volume of traffic of various kinds
proportions.
plainly
as a
result
of large
was
A slackening tendency in trade
observable
the
as
progressed;
year
factory
the six months of
gain in
a
a
and represents a snug sUm
it is not quite
ever,
of money.
dealing with totals of huge magnitude.
evi¬
gain has been a little in excess of 10%, being, in
subsidiary
10.16%.
figures,
$1,470,556,113,
registered
months of 1912,
falling off each succeeding month, and
1913 was only 5,807,317 tons, against
June 30
7,932,164 tons
tariff revision and other
ences
and
disturbing legislative influ¬
responsible for the diminution in orders
are
the
disinclination to enter
But
ments.
The prospect of
1912.
Dec. 31
on
mills
and
upon
factories
commit¬
new
everywhere
were
frade,
be filled.
where the
on
opened with
many
biggest volume of goods
an enor¬
kept
concerns were
instances turned out
made, notwith¬
ever
standing the outlook at the close of the half-year
was
measurably less cheerful.
As the
through, and it
the "railroads
of
were
favored, too, by
ther
experienced was also
so
more
weather
as
it
of
in
was
was a
magnitude by
reason
February the gain
decided advantage, the
severity
gain in gross
was
in
1912.
the
far
of huge
revenues
in
the
two
years.
size except
the month lacked the extra
day which February 1912 had contained by
being
in 1913
ences
an
upon
a
leap
absence of such serious
traffic
ticularly, there
coal
mining
as
disturbing influ¬
had existed in 1912—more
was no
the anthracite mines
par¬
such extended suspension of
then had to be endured.
as
reason
In addition there has been
year.
were
Last
year
shut down the whole of
April and the greater part of May, and during the
same
two months there
sion of
was
Our
also
more or
less suspen¬
mining in considerable sections of the bitu¬
The
figures for June
in order to make the
returns
are
ent year gave
May.
large increases in earnings in April and
It is true that at the close of March tre¬
mendous floods worked immense havoc in the Middle
Western
States
and
seriously interrupted railroad
traffic in that part of the country for the greater part
of the next month.
As
had,, the previous
year,
Mississippi River
group
of roads
ever
was
an
offset to this, however, we
the worst overflow of the
recorded, though
concerned.
a
different
The cotton traffic in
for the
we are
obliged to
use
the
year,
Accordingly, in
figures covering
.
097,376 less significant than it otherwise would be is
that it follows
an
1912
an
only
a
moderate increase in 1912 and
actual loss in 1911.
increase of
no
This
was
final
statement
reached
For the first six months of
compilation of the
our
more
gross
than
no
of gross
more
increase for 1913
earnings recorded
$51,012,535,
raised somewhat when
our
and net, but nevertheless
than $56,349,506, or
seems
3.99%.
or
presented
we
4.30%.
The;
likely also to be raised
some¬
what when all the figures are in for the month of
June.
there
In the first half of
was
our
1911,
dous
In
earnings, the
there
2.03%,
or
our
final
1910, when trade activity was in full
$173,044,812,
was
a
gross revenues
or
recovery
reached
14.85%, while in 1909,
following the
tremen¬
shrinkage that occurred after the panic of 1907,
the increase
the
gross
first statement, and $28,958,798 by
less than
when
already stated,
reaching $26,557,747,
swing, the addition to the
no
as
an,actual falling off in
amount of the loss
was
$122,730,709,
loss, according to
085,791,
or
11.86%.
tabulations,
-our
202,172 miles of road, and
total falling
$197/
we
estimated that the
off must have reached $235,000,000.
Prior to 1908 the trend was almost
upward for
In 1908
was
16.65%, but the figures related to only
or
a
full decade.
the
exceptional movement of 1912, and this
back to 1897:
footing of the separate months
What, makes this year's large increase of $136,-
the South for six months of 1913 fell far below the
was an un¬
when
year,
apt to be incorporated
six months to June 30.
statement.
con¬
to the
only the five months to May 31 instead of the full
decided
pres¬
are
slow in coming to hand.
instances,
some
it does
even as
in some instances lacking;
are
correspond with the aggregate
and Middle Western States.
cerned, and the return to normal conditions the
But
as
not yet wholly complete.
are
smaller revisions
or
earnings
gross
being the closing month of the fiscal
by
shrinkage in the coal traffic of the railroads
covering
comprehensive, comprising
very
Middle
a
of the gain in gross
by enlarged operating
'
alone the returns
larger
our
are pre¬
it will be found that
part
243,704 miles of road in 1913.
gross
that when
say
and net earnings
statement,
present
minous coal regions over large areas of the
This involved
safe to
seems
greater
augmented
feature of the returns all
has been consumed
alone, is
In
for the fact
known that
is
a
outlays.
In
not quite so large, but would
that in the present year
of its
wea¬
of this striking difference in the
of notable
have been
grain tonnage
sharp contrast wdth winter
conditions
meteorological
also
a
extraordinary
January there
a
The'mild'winter,
unexampled proportions.
it
sented, three weeks hence,
this
last season's bounteous harvest
result of
but
been
have
tabulations of both gross
the books waiting to
Thus, manufacturing
fully employed and in
the
year
of business
It is yet too early to present final
half-year,
expenses
revenues
volume
1913
comprehensive exhibits of the net earnings for
the execution of old
and steel
United
six months of
the
by
mous
words,
other
and
kept employed to practically their full capacity in
orders, particularly in the iron
In
against $1,334,458,737 in the six
corporations of the United States Steel Corporation
a
as we are
Briefly, the
was
States railroads earned in the
the
of
for
In ratio, how¬
striking, inasmuch
so
exact
books
the
on
gross revenues
This, of course, is
satisfactory addition to the income of the roads
$136,097,376,
of
orders
to insure
as
revenues.
Our tabulations show
dence of this is found in the fact that the aggregate
unfilled
such
was
exceptionally heavy traffic movement and satis¬
an
TttHlf as compared with the first half of the
1912.
year
on
Speaking
RAILROAD GROSS EARNINGS FOR THE
uninterruptedly
In the following
we
comparisons for the first.six months of each
show
year
190
332
'
THE
Mileage.
Increase
to
Year
Year
In-
Year
Year
June 30.
Given.
Preced.
cr'se.
Given.
Preceding.
Year.
Miles.
Miles.
158,295
158,775
161,166
166,704
175,371
179,065
173,655
177,673
185,912
196,571
200,352
202,172
230,022
235,462
235,293
239,020
243,704
157,463
0.52
157,702
159,865
0.68
162,190
171,257
176,459
169,747
173,495
183,320
194,005
197,715
200,083
227,369
231,104
229,824
236,285
240,522
2.79
1897
....
1899
1900
....
1902
....
1903
1904
1905
1906
1907
....
1908
....
1909
....
1910
....
1911
....
1912
....
1913
....
six
or
2.40
1.47
749,023,005
2.36
847,034,318
2.41
794,929,168
910,027.258
1.41
1.32
1.52
1.04
1.12
1.88
2.25
1.16
1.32
1,049,355,572
1,185,196,030
987,005,757
1,157,508,747
1,338,344,306
1,284,282,115
1,329,686,550
1,470,556,113
—2,208,420 0.46
475,293,350
+ 59,340,294 12.44
477,035,482
6.32
+ 33,095,153
523,231,211
+ 77,949,132 13.78
565,393,511
9.69
+ 62,217,278
642,321,514
6.74
+ 47,334,721
701,688,284
745,087,476 + 101,946,842 13.68
1.87
810,131,983 —15,202,815
7.52
+ 63,652,030
846,375,228
922,696,020 + 126,659,552 13.72
1,050,957,676 + 134,238,354 12.77
1,184,091,548 —197,085,791 16.65
1,034,778,038 + 122,730,709 11.86
1,165,299,494 + 173,044,812 14.85
1,310,839,862 —26,557,747 2.03
3.99
+ 51,012,535
1,278,674,015
1,334,458,737 + 136,097,376 10.16
operations of the anthracite coal roads
11992332..
The
are
grain movement,
huge proportions,
markets, and this
already indicated,
in
1911; these, of
swelling the traffic and
located.
Thus,
for
Finally,
months
the 26
and
1
primary
the
receipts
112,788,412 bushels; of oats,
against
68,833,675
bushels;
against
2,779,628
111,882,000 bushels,
bushels.
movement in
The details of the-Western
our
usual form
grain
set out in the follow¬
are
1
noted
as
1911
in
1911
and
here the
Wheat,
.Corn,
Oats,
Barley,
Rye.
(.bush.)
(bush.)
(bush.)
(bush.)
(bush.)
Chicago—
receipts for the last six
..4,707,000
1912......3,024,598
15,806,000
6,919,000
80,381,000
857,000
828,829
3,504,000
2,804,130
6,360,000
1913..:...1,472,000
1912..
1,344,410
12,532,000
59,996,250
Milwaukee—
63,949,000 16,440,000 1,294,000
39,275,700
6,493,100
791,500
6,274,000
5,497,674
5,648,030
St. Louis—
9,398,000 1,303,000
4,286,080 1,029,450
10,824,000
708,000
4,243,442
8,297,105
63,200
454,000
19,159
855,000
1,815,300
2,371,000
2,383,600
1,802,000
752,550
1,000.
9,000
1,000
14,000
189,000
144,442
254,000
1,580,000
1,393,466
1,605,000
1,141,229
68,000
11,000
529,685
197,000
405,000
142,439
2,351,000
831,660
2,433,000
1,103,858
36,000
3,000
17,348
10,186
3,512
1,274,000
..1,094,019
1,011,000
485,223
10,605,000
9,977,120
5,068,000
3,638,610
1,703,000
779,022
312,000
115,270
2,792,000
184,786.
505,000
Toledo—
"
Detroit—
1913......
1912......
1913.......
1912......
1913
:-
1913..
128,000
313,370
Minneapolis—
1913..
1912......
Kansas City—
1912......
......
.'.
-
18,462,000
4,462,860
196,000
7,936
47,918,000
33,891,600
3,391,000
2,970,320
10,102,000
5,214,100
8,625,000
13,218,660
3,743,000
2,778,000
7,838,000
10,605,000
6,146,000
Omaha—
1912..
11Q
Newport News, &c_.
47,540
159,776
59*195
2,797,000
1,407,559
Norfolk
Total
66,877
7,241,000 13,091,000 1,778,000
5,040,490
3,679,970
740,860
The increase in
ditions
which
■
.
-
86,394
53,286
37,442
738
74,834
115,189
26,521
1,140
1909.
1908.
685,311 1,194,089 1,088,886
107,515
232,159
82,453
569,732,
665,419
897,383
131,791
73,557
107,350
83,556
57,453
74,790
220,888
400,934
371,289
39,817
106,871
66,068
61,650
23,438
35,447
592
562
1,291
41,471
114,116
129,590
137,023
202,285
187,143
7,269
13,880
1,737
though in March, the ad¬
last week of the month in the
irt.. February the gain
it* would have been .because of
was
the loss of
day which the month had in 1912, which
We
annex a summary
.235,607
.240,986
.240,510
.240,740
.239,445
.193,497
February
quite
58,145
298,262
279,791
1
1910.
256,888
596,085
189,681
MONTHLY
At the seaboard the increase in the
grain deliveries
January
667,510
589
-Mileage
'
ports from jan. 1 to june 30
earnings extended through all the-
occurred the
Middle West; and
year^
1913......8,824,000 118,187,000 140,685,000 111,882,000 44,237,000
5,669,000
6,767,016
60,507,779 112,788,412
68,833,675 15,497,344 2,779,628
insert
relatively small because of the floods
were
January.
*
'
......
1912
We
1-2,402,659 4,247,705 2,265,913 1,964,066 3,408,041 3,043,028
1913.
Total of All—
not
1
months of the half year,
Peoria—
Duluth—
__
Charleston.........
.
Cleveland—
1912
Orleans,
Wilmington
14,220,000
16,361,370
1910.
1911.
1,237,441
328,012
463,602,
779,215
68,853
148,448
41,072
178,838
287,724
802,881
43,929
161,695
49,132
113,613
Pensaoola, &C_.
Savannah..........
Georgetown..
1912.
918,855
262,871
Texas City,
New
Brunswick.
1913......
re¬
2,-
years.
-Since
1913.
Mobile
1913
The
1910.
reached only
outports
1,964,086 bales in
Galveston ....bales.
(.bids.)
The gross
following table to show the Southern port
Ports—
Flour.
loss in traffic
above.
and 509,664 bales in
the Southern
at
*—-—
June 28.
was
cotton,
.
a
402,659 bales in the six months of 1913, against
4,247,705 bales in 1912; but against 2,265,913 bales
Receipts at western primary markets.
to
Of the increase
1912, only 845,962 tons
staple in which
receipts of cotton at southern
ing:
Jan.
over
by anthracite coal.
main
was
in
ceipts
the
extraordinary amount of 420,640,000 bushels, against
ogly 260,406,838 bushels in 1912 and but 229,648,363
bushels in 1911.
bales
total for
The
33,256,539 tons in 1910.
shipments overland fbr the six months aggregated
723,716 bales, against l,050j320 bales in 1912, 579,703
barley, 44,237,000
bushels, against 15,497,344, and of rye 5,669,000
bushels,
the Pennsylvania lines East of
on
and Erie
one
occurred
of
the whole five cereals foots up the
present year
parried
contributed
The
140,685,000 bushels, against
were
coke
3,621,215 tons in 1913
was
507,779 bushels in the corresponding period of 1912;
corn
For the six
ending June 30 the aggregate amount of coal
1911 and
to
marketsVere 118,187,000. bushels, as against only 60,-
of
refer to the coal and coke ship¬
Pennsylvania Railroad.
was 37,087,558 tons in 1913,
against 33,466,343 tons in 1912, 31,033,162 tons in
of
June 28 the receipts of wheat at the Western
the
Pittsburgh
of the leading
weeks from Jan.
we may
of
ments
of Western roads.
The increase extended to every one
cereals.
Pitts¬
to
ore
burgh and other iron centres where the blast furnaces
important influence in
revenues
whence the railroads haul the
ports
especially at the primary
was a very
26,-
same
course, are shipments by water,
by rail, but the figures indicate the greatly in¬
creased amount of ores brought to the LowerLake
of
was
for the
against
not
included in this table.
as
more
were
34,851,854 tons,
Superior iron ore shipments were 16,125,042 tons,
against 13,690,671 tons in 1912 and 8,836,372 tons
Canadian roada nor the mining
nor
1913
xcvii.
six months of 1912 and 35,309,583 tons in the first half of 1911.
The Lake
are
Note.—Neither the earnings of the Mexican
of
096,979 tons the
%
473,084,924
536,375,776
556,326,364
643,342,643
704,538,792
months
Decrease
%
0.81
[Vol.
anthracite coal shipments to tidewater
Earnings.
Jan. 1
1898
CHRONICLE
March
April....
May...
June
When
less than
the
was a
extra
leap
of the monthly totals.
SUMMARIES.
1913.
1912.
—Inc.
or
Dec.—
1912.
I
S
%
246,663,737 208,535,060 + 38,128,677 18.28
232,726,241 218,836,929 + 14,389,312
6.59
249,230,551 238,634,712 + 10,595,839
4.46
245,170,143 220,981,373 + 24,188,770 10.90
230,619 263,496,033 232,879,970 + 30,616,063 13.14
190,976 208,090,310 193,208,167 + 14,882,143
7.18
232,170
237,756
237,295
236,515
examine the returns of the separate roads
reached
so striking and yet the receipts in 1913
164,802,000 bushels, as against only 105,951,010 bushels in 1912 and still smaller amounts in
striking testimony is furnished to the generally favor¬
able character of the conditions and influences
pre¬
the years
vailing.
the
immediately preceding,
following :
as
will be
seen
by
only 32
RECEIPTS OF FLOUR AND GRAIN AT SEABOARD
JAN. 1 TO JUNE 30.
P
Receipts of—
Flour....
bbls.
Wheat
bush.
Corn
Oats
Barley
Rye
Total grain
1913.
11,006,000
1912.
1911.
1910.
1909.
8,466,135
9,170,530
8,317,837
7,362,156
54,480,813
30,651,278
45,570,428
26,044,936
2,595,786
356,097
33,713,152
22,512,796
22,894,634
1,841,976
412,789
33,340,796
26,638,999
23,010,866
4,072,637
376,752
164,802,000 105,951,010 105,218,525
81,375,347
87,440,050
81,077,000
40,986,000
.27,675,000
13,226,000
1,838,000
As indications
of
23,881,663
28,679,682
3,626,790
282,062
general trade activity
we
may
refer to the fact that-iron
.production in the first six
months, of 1913 reached
16,488,602 tons,
14,072,274 tons in the first half
11,666,996
tons
in
the
first
of
half
against
1912 and
of
1911.
we
Out of the 476 roads contributing returns
are obliged to report a decrease in'
roads
earnings and these decreases, when they are of any
consequence,
have usually resulted from special
circumstances peculiar to the roads concerned.
Among
the
of decreases show
by
any
road is
reported by the Chesapeake & Ohio, namely
$132,053, and this road was hard hit by the floods in
largest
that
the Middle West the latter
part
of March and also
had to contend for part of the time with
the
coal mines
only
sylvania,
The
all the
the
tributary to the road.
New
York
Central
principal systems everywhere
and
are
a
strike at
The Penn¬
practically
distinguished
Ana. 9
for
1913.]
THE
large improvement.
very
The tables
CHRONICLE
we
now
Increase
Name
insert indicate all changes for the separate roads for
in
amounts
or
excess
decreases.
are no
that
As
of
a
of
Ft Smith A Western...
Georgia
Georgia A Florida.
Georgia Fla A Alabama.
reaching
_—
Grand
Great
PRINCIPAL CHANGES IN GROSS EARNINGS JAN. 1 TO
JUNE 30.
•
Pennsylvania (3).
f/$l 1,753,051
Chicago Milw & St Paul.
6,094,364
Delaware & Hudson
Atlantic Coast Line
Cleve Cin Chic & St L..
N Y N H & Hartford
Chicago & North West..
4,606,179
Lake Shore & Mich Sou.
3,9s8,436
Missouri Pacific (2)
3,517,582
Northern Pacific
o3,500,441
Baltimore <fc Ohio
3,434,855
Lehigh Valley
3,424,756
Union Pacific (3)
Erie (2)
Philadelphia A Reading.
Illinois Central
Rock Island (2)
Michigan Central
Minn St P & S S M (2).
Chicago Burl & Quincy._
Missouri Kansas & Texas
Southern
Pittsburgh & Lake Erie.
.
a87+663
823,681
815,794
799,207
744,000
711,183
684,287
666,827
657,379
611,622
610,366
579,282
574,203
527,004
508,886
507,076
Minneap & St Louis
Colorado & Southern (3)
Kansas City Southern._
Chicago St Paul M & O.
V irginian
Chicago Great Western.
N Y Ontario & Western.
Chicago & Eastern 111
Buffalo Roch & Pittsb..
Houston & Texas Cent..
Pere Marquette
St Louis Southwest (2)__
Western Pacific
Nashv Chatt & St Louis.
i;820i385
Nashville-_
St Louis & San Fran (4)
in
our
compilation_$117,298,436
Figures in parenthesis after name of road indicate number of lines
or companies for which
separate returns are given in our compilation.
a Figures are for five months
only.
6 These figures cover merely the
operations of the New York Central itself.
Including the various auxiliary
and controlled roads, like the
Michigan Central, the Lake Shore, the "Big
Four," the "Nickel Plate," &c., the whole going to form the New York
Central System, the result is a gain of $16,587,832.
y These figures represent the lines directly operated east and west of
Pittsburgh, Eastern lines showing $7,223,305 increase and the Western
lines $4,529,746.
For all lines owned, leased, operated and
controlled, the
result for six months is a gain of $15,051,654.
now
all roads
or
add
our
full detailed statement
for which it
make up
Idaho A Wash North.
Illinois
Internat A Gt Northern
Kanawha A Michigan.
/
Kansas City Southern.
_
Lacka A Wyoming Val.
Lake
Terminal..
Lehigh A Hudson River
Lehigh A New England.
Lehigh Valley
1913.
1912.
3
$
Alabama A Vicksburg..
Alabama Great South c
Ann Arbor.c
919,173
2,610,596
1,077,898
1,409,310
...
Arizona Eastern
Mineral
Range.c
MInnStPASSM (2rds)c
Minn
A International.
516,808
A Gulf..
Mo Oklahoma
Missouri Pacific (2
Ohio.c.
Monongahela
rds) c
__—
Connect.
Nashv Chatt A St Louis
New Jersey A New York
Nevada Northern...
Newburg A South Shore
New Orleans A No East
New Orl Mobile A Chic.
New Orl Great Northern
N Y Cent A Hud Riv.c.
Chicago Ind A So.c—
Chicago Kal A Saginaw
Arizona A New Mexico.
533,660
55,667,892
al,340,583
Atch Top A S Fe (8 rds)c
Atlanta Birm A Atlantic
Atlanta A West Point..
Atlantic A St Lawrence
Atlantic
City..
•
Baltimore A Ohio.
c._
B A O Chic Term Ry
al,385,305
a271,834
Bessemer A Lake Erie
3,981,497
1,580,808
649,615
694,540
al8,850,575
Belt Ry of Chicago..
Bingham A Garfield-..
Birmingham Southern..
Maine..,..
Buffalo A Susq RR
Buffalo A Susq Ry
0777,876
a256,445
Buffalo Roch A Pltts.c.
5,291,646
Butte Anaconda A Pac.
Canadian Pac Ry in Me
a561,828
Carolina Clinch A OhioCentral New England..
1,247,911
al,491,223
Central of New Jer.c..
Central of Georgia^
Central Vermont.
al2,224,518
a5,633,080
926,733
al,636,607
952,382
Charleston A West Caro
Charlotte Harb A Nor..
Chesapeake A Ohio.c..
Chicago A Alton.
Chicago A East 111
Chicago A Nor West c_.
Chicago Burl A Quincy.
al26,759
17,073 ,'900
7,049,978
a6,465,410
40,846,393
a36,165.012
<?367,807
6,682,416
_
Chic Det A C Gr Tr Jet.
Chicago Great West c__
Chicago Ind A Louisv c_
Chicago Junction
Chic Milw A St Paul.
Ch Milw A Puget
0696,510
17,685,544
a650,019
45,671,939
743,470
01,441,537
•
3,308,555
987,106
43,581,297
I
_
Pittsb A Lake Erle.e..
Zanesville A Western..
109
N YN HA Hartford...
027,317,575
+5,395
—15,862
4,407,988
645
N Y Ontario A Western
N Y Susq A Western.c.
93
4,616
4,554
+ 34,694
167
167
+ 3,434,855
4,455
4,433
+ 100,044
77
77
118
118
Bait A
204
Bait Ches A Atlantic.c
+ 246,859
21
21
Cornwall A Lebanon..
26
26,
Cumberland
•
37,486,933
43
2,244
265
+ 42,051
91
+ 610,366
573
+ 61,046
72
_
490,262!(3 rds)_c
7,024,523
a393,128
712,855
306,869
0282,958
464,635
11,691,472
19,271,745
10,876,866
2,833,247
487,461
701,736
689,720
605,191
Colo A Wyoming...
Midland
Colum A Pug Sound
Copper Range
Cumberland A Penna..
Delaware A Hudson....
Dela Lack A Western.
_
Denver A Rio Grande _,c
Pacific
Denver A Salt Lake
Detroit A Tol Sh Line..
Detroit River Tunnel..
Detroit A
Mackinac.c.L
Det Gr Hav A Milw...
Detrolt Tol A Ironton..
Duluth A Iron Range.
Duluth Missabe A Nor.
_
Duluth Winnipeg A Pac
Duluth So Sh A Atl.c..
Elgin Joliet A Eastern
__
El Paso Southwestern..
Erie (2 roadtf).e
Florence A Crip
Florida
0687,985
7,237,709
869,153
4,489,402
4,917,509
492,775
6,225,316
0374,925
768,570
244.369
a266,502
466,909
10,109,012
5,265,209
Coal A Coke
Western
Creek.
Monongahela.
N Y Phila A Norfolk _c
Northern Central.c.
_
Pennsylvania Terminal
+ 90,569
233
233
Phila Bait A Wash.c.
247
247
Susq Bloomsb A Berw.
277
277
Union RR of Baltimore
676
671
West Jersey A Seash.c
—54,280
; +48,942
+ 13,178
—141,182
—132,053
+ 389,991
+ 611,622
+4,606,179
+2,297*010
+ 21,232
+ 666,827
+ 179,661
+ 95,215
+ 6,094,364
1,915
1,915
411
411
Central
341
Cincin
101
Grand Rapids A Ind.c.
2,289
1,026
1,275
7,960
9,074
60
60
1,496
616
616
12
12
Pennsylvania Co.c
Pitts Chartiers A Youg
Pitts Cin Chic A St L.c
*
Toledq Peoria A West.c
Vandalia.c
Waynesburg A Wash..
Peoria A Pekin Union.
Pere
_
Marquette
Perkiomen.
255
1,744
1,744
251
Reading..
Reading
Quincy Om A Kan City
251
Rich Fred A Potomac..
+ 2,560
1,015
1,015
+ 347,700
336
336
1,132,408
a615,552
2,584,931
3,171,236
959,096
1,689,111
6,703,044
4,436,800
024,544,498
593,819
,
East Coast.
3,137,520
Fonda Johns A Glov
472,171
16,318,210
10,646,043
2,323,361
519,814
612,891
595,122
621.370
1,017,165
0703,077
2,261,036
2,835,977
517,260
1.493,508
5,774,068
4,028,232
021,443,670
636,459
2,862,341
434,771
.
197
197
1,856
1,814
55
55
—55,715
+ 62,500
338
338
55
55
+ 16,456
137
133
—2,274
+ 1,582,460
+ 2,953,535
+ 230,823
+ 508.8S6
—32,353
+ 88,845
+ 94,598
—16,179
+ 115,243
62
62
854
854
Pitts Shaw A Northern.
Port
Rio
_______
Grande
_
Southern .c
Rock Island (2 roads) _c
Rutland
St Joseph A Gr Island.
St LA San Fr (4 rds).c.
_
St L Brownsv A Mex
St
'
190
1,206
958
San Ant A Aran Pass..
San Ped Los A A S Lake
937
937
215
215
79
79
2
2
Seaboard Air Line
South Buffalo
Southern Railway .c
Southern Ry in Miss
".'48,888
760,058
1,696,145
6,010,602
220,163
9,502,597
107,280
,
-
•
'
+ 19,530
122
+2,305,437
+ 54,676
3,976
+ 815,794
1,585
194
93
Tennessee
824
838
Terminal Assn of St L._
+408,568
+ 3,100,828
982
902
Texas A Pacific.c
Tacoma Eastern
Central
;
118
129
Tonopah A Goldflelds..
642
642
Tol St L A Western.c..
88
88
Trinity A Brazos Valley
2,013
43
+ 15,630
+ 296,089
91
105
905
+222,697
+ 3,988,436
+ 27,266
+2,467,745
1,872
4
1,816
564
+ 396,907
351
+ 138,631
222
+ 1,878,390
+ 309,715
442
„
90
+ 5,199
+ 1,174,723
2,091
566
+657,379
+259,266
+ 143,642
+ 1,857,317
+68,876
+ 3,500,441
+ 143,170
154
562
2,034
113
.
6,314
401
+ 7,223,305
+ 18,299
4,032
5
-
.
88
+ 16,150
+ 58,704
26
162
+230,087
+455,227
+ 11,429
399
84
+ 103,496
65
+215,309
.112
472
+490,227
5
+ 14,835
+ 823,681
:
713
43
+ 25,254
748,160
+ 182,454
10
—44,120
356
79,081
234,790
+ 23,993
127
+ 56,961
+ 83,803
46
45
578
586
+ 3,622,928
+ 38,328
l,75i
1,760
22
22
+906,818
+42,131
+455,696
—3,341
+ 34,960
+ 574,203
+ 11,911
1,472
1,467
247
247
910
827
18
18
2,330
38
2,330
+ 177,073
+2,804,241
279
278
1,015
1,015
531,352
4,819,709
656,57
434,872
7j582,702
0259,105
789,019
.
127
28
28
38
316,991
33,143,010
1,711,746
249,871
30,577,071
1,617,284
—67,120
+2,565,939
+ 94,462
—25,306
+ 1,627,468
+227,737
0569,841
0595,147
018,143,607
al,291,651
016,516,141
al,063,914
920,266
352,225
336,709
829,255
623
45
+ 1,269,063
+ 8,443
21
542,285
408,185
165
358
244
263
67,126,600
02,081,751
626
286
283
3,749
88
Seattle-
+441,836
13
196
547
263
Southern Pac (12 rds).c
+ 195,603
+ 928,976
165
—25,793
Spokane Port A
Sunset
48
+ 211,907
191
356
6
1,231
1,406,133
358
356
+ 53,459
+507,076
+ 17,068
+ 39,006
+ 27,668
+ 44,162
+ 178,749
—12,547
+ 158,439
+5,390,363
+ 171,638
+ 3,343
—1,723
1,618,040
441
272
332
7,283
21
191
272
65
+ 59,355
441
__
164
2,690,837
2,495,718
27*499,721
155,947
20,258,380
0905,365
5,689,272
330,315
2,072,962
03,850,960
11,770,219
381,463
31,243,091
441,144
62,455,806
01,803,185
443,156
466,484
Spokane International
Staten Island Rap Tr_.
373
.
O600.565
0381,963
—87,525
+ 323,895
+ 335,259
—42,640
+275,179
+ 37,400
+ 2,950
+ 375,141
+ 16,093
017,828,424
988,661
Texas Midland
200
0659,920
a356,170
al,014,024
6,216,276
325,467
2,173,981
04,116,173
12,872,595
522.752
33,279,468
2,598
2,264
351
4,919
a20.632.665
L Merch Br Term..
958
2,257
1,534,303
4,918,067
103,074
291.751
2,579,521
31,122,649
194,275
21,165,198
573,483
5,275,405
62,316
469,832
St L Rocky Mt A Pac.c
St L Southwest (2 rds)_c
St P A Kan City Sh Line
2,598
411
'
0271,016
966,092
.....
9,570
—2,513
55,870
112.674
147,885
8,156,905
255
+ 799,207
+ 18,203
82,030,115
74,169
128,824
206,589
1,764,390
5,373,294
60,317
863,554
1,911,454
6,500,829
234,998
2,646,717
Lebanon A Nor
9,592
—50,419
+ 711,183
+ 26,454
89,253,420
132,534
930,614
Indiana.
104
1,496
219,368
026,142,852
3,750,609
01,371,339
1,574,813
19,749,666
216,350
023,429,737
1,516,177
Lines West of Pittsbu rgh—
2,324
1,026
1,275
7,976
9,129
i
,
10,326,278
+ 1,166,289
341
1,506,447
8,070,435
2,419,055
'
+ 119,469
+ 42,975
.
Valley.c.
Long Island _c
Maryland Del A Va.c.
265
Phila A
Cinc.N O A Tex Pac.c.,
Colo A South
Sparrow's Point
+ 165,518
+ 124,497
255
+ 1,652,806
+ 34,352
st of Pittsbur gh-
Pennsylvania RR.cJ.
484,097
479,425
al7,978,912
0653,379
a214,394
4,681,280
a500,782
836,164
1,128,442
al,448,248
011,058,229
a5,687,360
al,587,665
'939,204
a267,941
17,205,953
6,659,987
a5,853,788
36,240,214
033,868,002
0346,575
6,015,589
3,128,894
891,891
0637,566
7,948,892
895,607
4,491,962
Chic St P Minn A Om.c
Chic Terre Haute A S E
Colorado
Pennsylvania—Lines Ea
631
628
104,092
15,237,392
5,727,271
1,659,347
204
Sd.J
Chicago Peor A St L
Cine Ham A Day ton..
Northwestern Pacific
—56;232
—60,730
+ 871,663
40,059
159,268
1,357,949
2,653,559
25,045,918
'
Northern Alabama
Northern Pacific
+ 350,614
+215,115
616,754
14,694,814
1,718,455
21,600,983
285,226
026,930,178
A Western
1,333,949
t
319,870
1,902,067
a864,453
0641,863
a650,094
50,471,874
2,025,790
98,823
al,630,605
Norfolk A Southern
Norfolk
1,439
+ 98,557
1,122
10,704
167
10
97
272
+ 103,459
+ 3,517,582
+ 897,919
109
+ 1,459,075
0332,564
3,630,883
Peoria A Eastern.c...
Toledo A Ohio Cent.c
93
23
+ 52,315
+107,229
+412,482
+ 3,424,756
+ 48,480
5,343,638
486,437
6,179,565
386,671
813,707
15,963,877
48,502
174,898
1,654,038
2,876,256
29,034,354
131,358
17,705,137
6,124,178
1,645,078
Louisv A Jeff Bridge..
Michigan Central.c....
309
167
177
6,241,557
539,896
6,686,641
403,739
852,713
347,538
1,946,229
ol,043,202
0629,316
O808.533
55,862,237
2,197,428
102,166
645
:
827
3,817
10,771
+ 106,275
477
+2,089,824
+57,319
.
+ 96,710
+ 744,000
+ 29,926
12,632,148
a353,956
25,836,803
615,031
291
367
4,763
1,159
14,721,972
0457,415
29,354,385
+ 2,852,316
291
367
71
150
+ 2,645,460
+ 71,184
+ 187,522
365
9,948,825
2,728,770
224,567
.
0520,827
.
Bangor A Aroostook...
Beaumont Sour L A W.
Boston A
a504,965
a8Q2,785
19,144,619
a684,713
49,106,794
843,514
•
Atlantic Coast Line.:...
309
1—10,118
789
+ 71,097
+ 98,033
—9,539
+ 115,066
*
143
+ 579,282
+ 20,542
351
400,831
366,874
478,399
;
Lake Erie A Western.c
1912
248
308
498,864
357,335
593,465
Central
Missouri Kans A Tex.c.
A
—3,508
+ 110,806
+ 219,275
4,555,976
Nor Arkansas...
Mobile
347
/
Miss River A Bonne Ter
Mo A
193
"
462,132
3,740,182
Minneap A St Louis..lc
N Y Chic A St Louis.c
+ 246,105
17,075,938
14,798,041
.
Lake Shore A Mich So.c
+ 293,553
823,079
0332,817
295,031
5,418,588
0569,398
414,955
Central....
Indiana Harbor Belt..
143
275,506
270,587
Manistee A Northeast..
Mileage.
+ 170,819
4,722,878
1,414,395
O290.074
•4,451,588
627,962
297,981
5,043,447
0553,305
395,425
12,492,604
or
748,354
2,364,491
1,088,016
1,115,757
476,341
52,815,576
al,335,188
7,752
593,610
Detroit A Charlevoix..
1913.
+ 5,001,317
Louisville Hend A St L.
Clev Cin Chic A St L.c
(—)
395
27,888,648
1 TO JUNE 30.
Decrease
+ 98,752
+ 440,070
29,541,454
Dunk All Vail A Pitts.
Name of Road.
352
813,993
791,716
Cine Northern _c__
increase (+)
+ 21,795
+ 11,289
Louisville A Nashville.c
New Orl Tex A Mexico.
embracing
235
307
890,273
Maine
221
—37,996
—39,363
Nor—
Midland Valley
—18,650
420,339
0195,194
28,727,311
20,500,694
862,473
1912
al,379,639
387,985
0226,425
1,201,360
3,200,234
29,542,546
364,460
992,324
3,417,475
a2,037,123
311,770
0745,299
Louisiana A Arkansas..
Louisiana Ry A
'
GROSS EARNINGS FROM JANUARY
_
Kan C Mex AOr of Tex.
has been possible to procure
the figures.
Central.c
Mississippi
Representing 86 roads
Note.
We
Huntingdon A Br Top.
Iowa Central
1,652,806
al,627,466
_
Houston A Texas Cent.
897 919
Phila Bait & Wash
3,125,126
03,100,828
2,953,535
2,852,316
02,804,241
2,645,460
2,565,939
2,467,745
2,305,437
c2,297,010
2,089,824
2,036,377
1,878,390
1,857,317
Delaware Lack & West..
Atch Top & Santa Fe (8)
Norfolk & Western
Wabash.
Mobile & Ohio.
Boston & Maine.
34,543,863
360,952
1,103,130
3,636,750
02,616,405
332,312
a266,291
31,372,771
4,794,062
1,601,917
0386,784
5,195,588
305,432
322,902
930,308
._—
Island
Hocking Valley._...
1,459,075
1,269,063
al.174,723
Central of New Jersey._ al,166,289
Seaboard Air Line
1,102,376
Yazoo & Miss Valley
955,342
Elgin Joliet & Eastern..
928,976
N Y Central & Hud River 65,390,363
Great Northern
5,001,317
Southern Pacific (12)
4,670,794
Northern.
Green Bay A Western..
Gulf A Ship
Increases.
SI .582,460
Mileage.
1913.
(—)
$
299,367
1,300,112
3,640,304
Western-
Trunk
(+)
or
$
0237,714
Georgia South A Fla.c.
IflCTCdSCS
1912.
280,717
382,343
01,340,276
409,780
Ft Worth A Rio Grande
sum.
Louisville &
1913.
$
fact, however, there
decreases among the individual roads
of Road.
Decrease
$500,000, whether increases
matter
333
1,432,230
8,200,290
339,935
340,682
2,207,688
1,136,400
362,692
200.675
.
281,429
748,432
1,344,277
7,767,547
280,431
365,101
1,804,148
1,164,309
83
180
180
8,042
8,041
468
468
319
319
5,255
5,245
518
510
9
—68,395
+ 108,659
9
106
106
+527,004
—4,848
+ 101,019
1,608
1,610
727
727
+265,213
+ 1,102,376
+ 141,289
+2,036,377
1,135
3,082
1,137
3,070
131
128
36
36
7,036
7,089
281i
+ 25,340
281
+4,670,794
10,323
10,052
+278,566
+99,129
+43,493
+ 151,550
656
556
+ 55,280
92
+ 80,823
+ 87,953
+432,743
+ 59,504
—24,419
+403,540
—27,909
161
161
11
11
63
"
294
.
59
92
294
34
35
1,885
1,885
125
125
•
110
110
451
451
463
463
1912.
1913.
Decrease
$
$
Ulster & Delaware
42,058,189
2,178,012
832,130
916,090
3,165,477
14,892,628
397,507
704,548
254,438
a2,698,512
a3,122,340
a595,258
•335,938
5,326,185
20,339,213
Union RR (of Penna)..
Vicks Shrev & Pacific..
Virginia & Southwest.
Virginian
Wabash
_
*
c
Wabash-Plttsb Tenn'l..
Washington Southern..
West Side Belt—
Wheeling & Lake Erie..
Western Maryland..
...
Western Ry of Alabama
Wtlkes-Barre & East...
Yazoo & Miss Valley.cT
210 minor roads....;..
such
$
+3,125,126
+ 110,303
+224,428
+ 23,426
+ 684,287
+ 1,820,385
+ 71,789
+68,830
+ 21,059
38,933,063
2,067,709
607,702
892,664
2,481,190
13,072,243
325,718
635,718 J
233,379
a2,795,012 r
a2,966,711
a581,051
265,445
"
(
1912.
1913.
(—)
129
129
7,473
7,257
31
31
+ 70,149
a317,426
a387,575
Union Pacific (3 roads) c
companies concerned,
or
4,370,843
18,244,988
.
240
503
475
2,514
2,514
63
63
was
$11,064,190,115,
part,
trust
457
+155,629
+14,207
+ 70,493
+955,342
+2,094^25
543
543
133
133
92
92
7.20%
4.73%.
1,374
11,522
a
road and
well
as
On
the fiscal
1912
as
year
over
well
as
I
1912 are,
"
—'..$15,895,657,969
15,518,264,612'
-
1911—
—$377,393,357/
Expenditures Expendituresj
for additions for new lines
and;.'"4
reports of carriers, having gross operating revenues of $100,000
or more for the year and also of railway companies owning
property operated by the same carriers under lease or other
agreement,, winch have been made, in advance, of the com¬
pletion of the Twenty-fifth (or 1912) Annual Report on the
Statistics of Railways in the
"
EQUIPMENT.
lines and extensions, during the fiscal
Investment to June 30 1912
an
ended June 30 1912, made from the annual
year
AND
The expenditures for additions and betterments,
Investment to June 30 1911---——
abstract of statistics of steam
railways in the United States for the year ended June 30
1912., This abstract is based upon compilations covering
out
gave
ROAD
this caption include returns for Investment in
analyzed in the following tabular statement:
Commerce Commission at
16 the Inter-State
July
Washington
;/
(other than equipment tru?t obliga¬
4
IN
on.
was
by their subsidiary non-operating roads (leased, operated under
the expenditures for new
STATISTICS, j
consideration
equipment,' shown by the operating roads covered by this abstract,
as
contract, etc.).
UNITED STATES RAILWAY
'
7.52%, of.the total
or
<v.
:
^
INVESTMENT
:
/%
both years.
The average rate of dividends paid
to the roads under
paid on $808,464,701,
was
The figures presented under
These figures are for five months only In
/
'
The amount of dividends
$400,432,752, being equivalent to
was
pertaining
outstanding
No interest
tions).
of
both operating and non-operating companies
in this statement)
amount of funded debt outstanding
Net increase 10.16%.
re¬
income bonds, $263,-
:
dividend-paying stock.
on
stocks
the
consisted
$116,170,300; and equipment
34.35%, paid no dividends.
or
declared during the year (by
all
debt,
collateral trust bonds, $1,279,128,266;
capital stock outstanding for the roads under consideration,
representated
1,470,556,113 1,334,458,737 +136097,3 76 243,704 240,522
Grand total (476 rds).
representing funded
miscellaneous funded obligations,
$2,909,693,873,
"
1,374
11,666
common
obligations, $318,182,259.
Of the total
•
459
and $1,586,747,679 was preferred;
$6,882,813,008
maining
441,054;
22
22
capital outstanding there existed as stock $8,469,560,687, of which
plain bonds, debentures and notes, $1,067,567,350;
36
36
:
—96,500
Of the total amount of
well as by the public.
as
mortgage bonds, $8,019,700,886;
171
171
240
xcvii.
This amount includes capital held by the railway
$19,533,750,802.
was
Mileage.
Increase (+)
Name of Road.
[Vol.
CHRONICLE
THE
334
■
From
cash-
working
and
'// ';'/ /':.% /;
'
*
other
or
r';'v"■
extensions.
betterments,
J
assets.—.$187,976,646 $59,872,304.
From special appropria-
-:L—
tions
32,553,291183*613,
Through issue of securi¬
ties
United States.
113,592,193
__
Unassigned
(having operating
$100,000) prevents the showing of items
The omission of returns for small roads
124,498,432
3,554,933'
2,134.855
,
below
revenues,
Total
Total expenditures during year
■comparable with complete figures for 1911. None of the
statements includes returns for switching and terminal com¬
Property retired
17,290,466
Difference between record value of
he somewhat modified by revision before they are presented
grantor
and
grantee
in
r'
—
.
:
,
*
miles of line operated, Including
purchase
of
case
price
roads
the abstract represented 240,238.81
Net increase during year,.
This mileage was thus
classified: Single track, 240,238.81 miles;- second track, 24,929.51;' third
track. 2,511.76;1 fourth, fifth and sixth tracks', 1,783.97; yard track and
sidings, 91.250.19,
These figures Indicate, for the roads under considerar
tion, an Increase of 8,925.52 miles over corresponding returns for 1911 in
PUBLIC
the
360,714.24 miles.
was
35.49%. represent yard track and sidings. '
"
EQUIPMENT..
of passengers
corresponding
passengers
Number.
...---1,002,461
.
'r.
.
146,050:
Flat.
stock
—-/
Coal.
J
Tank
—
---—
-
262,955,605,123,
Other
in
care
Tptal
.
freight service.
-
«.
It appears that
2,333,976
36,588,734
310,348
30,681
950,530
86.867
3,498,287
-2,202,966
82,647,959
1,000 miles of line
passenger-miles
per passenger
,
The returns indicate that the number of locomotives and cars in the
service of the carriers under consideration
99.20%,
as
ahd( 2,425,265,
or
2,410,440,
or
/'
—
l:r,'V'\ t**
1,699,218>
The
total
amount
employees, (during the
sideration
.
.
<
was
49,051
the pay-rolls of the steam
1912 (not including those in the
and
ended,
$1,243,113,172.
salaries reported
as
paid to railway
.
'.*,*•
mission by roads having gross
*
—
—
- v— ------—- - -—-
Other passenger revenue...
Switching
revenue
—
,
"
Submitted to the Com¬
operating revenues of $100,000 or more, to¬
Total
50,674,758'
72,970,758)!
29,331,726*
Special service-train revenue
transportation revenue..
Total revenue from operations other than transportation
Joint facilities—Dr
1*.
;
.1
;
Joint facilities—Cr_
——.—_
con¬
657,422,999
7,473,128''
658,800''
8,323,683 '
5,228,969 'x
_
Miscellaneous
CAPITALIZATION OF RAILWAY PROPERTY,
On June 30 1912, according to the annual reports
—$1,956,802,927
revenue.
Mail revenue
There were 63,558
135,959 other trainmen
June 30, 1912 for the roads under
234,366.14 ,
$2,772,733,828; operating expenses,
present a statement of the operatp
baggage revenue
Express revenue.,—
Milk revenue (on passenger trains)
crossing tenders and watchmen.
of wages
year
conductors,
Operating revenues,
Parlor and chair car revenue
for June 30
66,408 firemen,
and 39,530 switch tenders,
were:
Passenger
Excess
45,987 in the total number of such railway employees.
enginemen,
$2,826,917,967; their operating expenses were $1,958,963,431.
corresponding returns for 1911 (average mileage operated
Freight revenue
of 707 per 100 miles of line.
As compared
1911,, there was an increase of
or an average
corresponding returns
-
$1,901,399,475.
The following figures
ing revenues for 1912 in detail:,
employ of roads the gross operating revenues of which were reported as less
than $100,000 or those in the service of switching and terminal companies)
with
7
the case of other figures in the abstract,
shown below exclude returns for road? the gross
be noted that, as In
operating revenues of which were less than $100,000 for the year. The op¬
erating revenues of the railways in the United States for the year ended
June 30 1912 herein represented (average mileage operated 237,809.09/
miles)
The total number of persons reported as on
was
reported t
ended June 30 1912.JV&&
reported for thef^
253,456,389,237, tbuh giving an increase of 9,499.-
the revenues and expenses
The
EMPLOYEES,
roads of the United States on June 30
yt&r ended;/
while the corresponding figure for the
REVENUES AND EXPENSES.
miles) were
aggregated 2,429,908, of which
against 99.01% in 1911, were fitted with train
99.81%; as against 99.77% in 1911, were fitted
with .automatic couplers.
Of the 2,203,128/ cars in freight service on
June 30 1912, the number fitted with train brakes was 2,194,694 and the
number fitted with automatic couplers was 2,199,301.
*
4 ~
j '
brakes,
•'•1
It should
255, and the average number of cars, per
The number of
-
.
4,990,796
1,000 miles of line, 9,860.
locomotive was 2,263,019
and the npmber of ton-miles per/freight locomotive was 7,077,428./
'
was
'
carried (including freight re¬
The number of tons carried one mile Per mile ofroad for the year ;■
1,108,578* as against 1,088,314 for the preceding
year.
The average number of tons of freight per train-mile was 409.29.
The corresponding figure for the preceding year was 386.17. ' *7
;'4'v
The average receipts per passenger per mile, as computed for the year
ended June 30 1912, for the roads covered were 1.985 cents; the average
receipts per ton per mile, 0.743 cent.
The passenger service train revenue
per
train-mile was $1 30.404;; the freight revenue per train-mile was
$3 04.015.
The average operating revenues per train-mile were $2 30.201«
The average operating expenses per train-mile were $1 59.544.
The ratio
of operating expenses to operating revenues was 69.30%.
7 1 ' '7'
Tons.
76,392
the average number of lopop^Qtives per
as
by the roads represented for the
ended June 30 1912 was
'
- - -
——
\
■
freight reported
210,886.
33,975,288
7,795(;
--
33,034,995,806. The /'■
73,465,336 more.
The number of,
of road was 139,356* as against
The corresponding ton mileage, as
ended June 30 1911, was
Aggregate,
.
was
mile per mile
by the carriers under consideration for the year
follows:/
852,720
—
—
Refrigerator.:—,.
7:'7':" '.V7" 77"''777
'"'''7 7'''
previous year was 1,753,189,939, the increase being 65,042,25n,
The ton mileage, or the number of tons carried one mile,, as
was
Capacity.
|
for 1911
one
June 30 1912 was 1,818,232,193,
jtfl classes in the service of such roads
as
return
carried
The number of tons of
-
y -
freight f^^ce» tb^e jfvp,e classified. 2,202,966^
'
30 1912
The corresponding number for
mileage, or the number of passengers carried one mile,
ceived from connections)
1911). which equipment was
thus assigned: Passenger service, 50,606 cars;, freight service, 2,203,128;
company's service, /' 114,924.! The figures given do not include so-called
private cars of commercial firms or corporations.
Description—
994,158,591.
142,859 for the preceding year.
total number of locomotives,
36,600.as freight, 9,475 as switching
2,368,658 (or 25;245 more th#a on June 30
B o*
was
reported by roads represented in this statement, was
•
,
RAILWAYS.
30 1911 was 987,710,997.' The Increase in the number /
'7 .7"''
The passenger
suCh roads for the previous yearOf the
14,206 were classified as passenger,
OF
carried during the year over corresponding returns for 1911
6,447,594.
was
It appears, from th$ annual reports submitted to the Commission by the
roadfc covered by the abstract, that there were 61,250 locomotives in their
service on June 30 1912, an increase of 979 over corresponding returns for
and 969 were unclassified.
represented
the year ended June
.
•
377,393,357
—
SERVICE
The number of passengers carried during the year ended June
by roads
aggregate length of all tracks, of which increase 3,167.43 miles, or
The total number of cars of
146,972.910
,-
of all kinds covered by operating
for these roads
62,310,840'.
Total.
10,824.60 miles used under trackage rights.
TJie aggregate mileage of railway tracks
returns
of
sold,
merged, consolidated, etc
mileage.
-
On June 30 1912 the roads covered by
$67,371,604
or converted--
Adjustments
in the full report
for 1912.
$524,366,267
Credits.
•
The figures given in the abstract, it is stated, may
panies.
—$336.256,985$188.109.282
_
_
2,078,910
6,174,062 '•
27,367,678 !
918,586 \
3,328,155 *
—$2,826,917,967
operating revenues
Operating expenses, as assigned to the five general classes, were:
r
Maintenance of way and structures.../;
7—1/—.—$363,495,583
Maintenance of equipment
448,303,785
Traffic expenses.
j.
1
60,568,586
Transportation expenses.... ——
—„
1,013,340,697/
General expenses....-.-.
1
73,254,780 r
— —
— ...
L
gether with returns made in reports filed in behalf of' heir non-operating
.
upsldiary lines, the
par
value of the amount of railway
pital outstanding /
Total
operating expenses.
—
-—$1,958,963,431;
Aug. 9
THE
1913.]
With minor eliminations from the
CHRONICLE
figures given above, operating revenues
Neeley of Kansas, Eagle ofjTexasfandfRagsdale of. South;
mile of line operated (Including line operated under trackage rights)
per
Carolina.
averaged $11,881 and operating expenses $8,234 for the year.
CONDENSED
INCOME
ACCOUNT
AND
PROFIT
AND
000
or more
for the year ended June 30 1912.
for non-operating roads
the reports of
were
which
A similar statement follows
The statements oinit returns for
not sufficiently complete for
were
a
number of items, such
a
offered by Representative Bulkley of' Ohio and
by
both statements must be taken into consideration in order to learn the
Thus
the
aggregate
of
dividends
during
declared
the
This amount includes dividends declared
roads.
owned by other
on
other features of the bill, voted in favor of reporting the
the non-operating
-'
'
•
"
Revenues.^
— .-
Expenses.-.-—
—
*■
.
\
-A
Net
revenue
.
"
""'.r
—$63,527,073
—'
62,489,614
\
*
"
T
$867,954,536
was
*
national banks to organize and operate both savings and trust
departments^
entirely
This is
an
considered portion of the bill antf tends to, centralization of
a:
high degree.
It certainly should
„
never
new*
1%
power to
have been adopted without
ful consideration.
^
care¬
,
.
1,037,459
Another amendment adopted: on Tuesday provides that
...
*?!§«
Gross income
Rents, interest and similar deductions from
Net corporate income
Disposition Of net corporate income:
gross
Federal Reserve Board shall be appointed from
——...$1,011,480,981
income
609,661,490
be in
$401,819,491:
$246,372,011}
..
*
the Board being a board of seven.,
made
289,098,464
the
$112,721,027
-$1,065,793,723
' 112,721;027
.—
same?
——.
Appropriations for additions and betterments
Apprbprfatidtis for new lines and extensions—
Appropriations for other reserves.
—
Other profit and loss items—debit balance..- *
•
3,020,920
be
a
There is hereby created a.Federal advisory, council, which shall consist
reserve
Non-Operating Roads.
.
.
Net income from ldase of road—
—
visory council shall t>e held
at Washington, District of Columbia,
at.Ieastj;
four times each year; and oftener if called by the Federal Reserve Board J
The council, may select itss:own officers and adopt its own methods of pro-,
$117,402,333
——-T
Each Federal
districts.;
bank, by its board of directors, shall annually select one member ofi
said* council; who shall receive ho compensation for his services, but may
be reimbursed for actual necessary expenses.
The meetings of said ad¬
$124.533,101v
'
352,8984
6i777,876-
Taxes accrued-—-------—:
the
overcome
political body and without qualification regarding bank¬
The text of this amendment is as follows:
of as many members as there are Federal reserve
Balance credit June 361912 carried to balance sheet-'-_$!;054<229>349i
Income Account—
amendment,
an
ing matters.
—r-r————23,851.830;
Salaries and maintenance of organisation
adoption of
objection against the Federal Reserve Board that it would V
16,449,742c
Cross Ihcome from lease of road:—-—...—
The amendment'again met the"'
the only; affirmative votes cast being those - o&
fate,
We; referred' last week to the
$4,274,626.
106,542
,
pro-*
wheat and cot-
pjrovidiag for. an advisory council of bankers to
————$1878,08l»179
—
currency upon corn,
warehouses.
was
Representatives Wingo, Neeley, Ragsdale and Eagle. *
I_'l00;4'3t;571
of'surplus.. .'.
Another attempt
the incorporation in the bill of1'
secure
Ragsdale-Hemx amendment, previously defeated,
tpnr; held4 in
;.
.
Credit balance-for.year 1912 from income account
Difference
Tuesday to
on
viding fortthe issuance of
"
Credit balance
appointive^
5
77,082?
5.463,269
Balance to credit of profit and loss--...—
Profit and Loss Account— ;
on June 30 1911-
absolute control,, since, ; besides; the? two
members, it will have also the Secretary of the Treasury, the
/\
37,186,102
......
politicals
one
This is intended to make the Board bi-partisan,;'
though as a .matter of fact,the dominant party will even then,,
party.
.
Dividends declared from current Income.
than two of the four appointive, members of ; the.
not more
$755,869,486
255,611,495
—„
Appropriations for additions and betterm'ts
Appropriations for new lines and extensions
Appropriations for other reserves
Other
motion
a
amendment ; authorizing
an
provision, exceedingly radical in connection with the changes wrought
;
—-r.
out
draft
"
Operating income
Other income.;. —J.
Dividends"declared
previous consideration
to
in connection with the other features of the bill.
any
from outside operations
Total net revenue..,
Taxes accrued—..._——•
follows:
authorizing- the. Chairman
passed
—,
,
as
but reserved the right; to offer amendments^
Representative Neeley? explained his opposing1
At the last moment and without any
$2,826,917,967
1,958,963,431
Net operating revenue
Outside operations:A
some
meas¬
-
-
,
v
Rail operations:
Operating revenues
Operating expenses
to the caucus,
caucus.
vote
Operating Roads.
•
ure
in
\
Income Account—
Congress-r
year,
railway capital stock
railway companies.
adopted!
was
Wingo of Arkansas, while dissatisfied with this and
man
$400,308,609, Includes those declared out of current income and those de¬
clared from surplus both by the operating roads and by
re¬
vote of 10 to 4, the negative votes being cast by Repre¬
a
sentatives Neeley, Ragsdale, Eagle and Wingo.
aggregates of such items for the railways of the United States therein repre¬
sented.
amendment to be included in the
an
permitting national banks to organize and operate;
savings and, trust company departments.
The motion was
dividends, taxes, &c.,
as
Glass to draft
port
confined for the most part to receipts and payments under leases, contracts
For
man
provi*l
no
few
inclusion
financial transactions, wh ile the accounts of the non-operating roads are
and agreements.
for,jthe issue of
,
The accounts of the operating roads include both operating and
therein.
sion
currency on agricultural assets.
Before
the vote to report a motion was adopted authorizing Chair¬
$100,-
(leased, operated under contract, &p.) controlled
by the operating roads described.
roads
which
and Con*:
power,
Ragsdale is dissatisfied because there is
gressman
There is given below a condensed income account and profit and loss ac¬
GUI
^Representatives Eagle and Neeley think the
gives the alleged "Money Trust" too much
LOSS
ACCOUNT.
count of operating roads, the gross operating revenues of
335
cedure;
income———T.——r—; 6.495,874
a
majority of its members shall constitute
action of business.
Gross income.
eserve
a quorum
for the trans¬
Vacancies in the council shall be filled by the respective
banks and members selected to fill vacancies shall
serve
for theun-
.......f
expired
Net corporate*income———...
Disposition of net corporate income:
Dividends declared from cprrent income—
„
$54^143,851
$37,556,473 v
1,067,278
16,943*
,
Appropriations for other reserves
T otal.
(2) tp. make oral
and to, give
issued*
38,657,477
-
$15,486,374
Balance to credit of profit and loss
Profit and Loss Account—
Credit balahce oh June 30 1911—
•
'
-
.
V
„
$81,743,713
15,946,554
Difference
*
$65,797,159
$1,173,439c
Total.
——
*115800
"",000
$53,390,916
reserve
conditions in the various; districts, the purchase and, sale?
open .market operations by saidL
AND
FINANCIAL
NEWS.
The public sales of bank stocks this week aggregate 210
shares and
stocks
were
were
all made at auction.
on.
the stock of? the- Federal; Reserve oridistrict banks shall
to the Government.
accrue
above
sold.
:200 State Bank
Low.
High.
Close.
190*
190 '
190*
BANK—Brooklyn.
10 Bank of Flatbush.
_
•
115
115*
'
Last previous sale.
Aug.
1908— 211}*
'
their annual:
banks.*
Committee
House
on
tion of the
mittee.
Banking & Cur¬
on Tuesday, Aug. 5, decided .by a vote of
favorably to the Democratic caucus .of the
Monday next* the Administration Banking. Bill,
with the various amendments agreed upon
measure
The
in the considera¬
by the Democratic members of the Com¬
dissenting votes
were
cast
the basis of 60%. to;
balances with the Federal
average
That after the payment of
now
reads:
all necessary expense and taxes of
bank, the shareholders shall be entitled to receive
on
banks
reserve
bonded indebtedness of the;Government*
changed, this section
reserve
reserve
sinking fund to be held for the reduction*
a
of the outstanding
As
<
:of profits-
the member banks in proportions
rived'by the United States from the Federal
an
a
Federal,
annual divi¬
the paid-in capital, which dividend shall be cumulative.
One-half of the net earnings, after the aforesaid dividend claims have been
fully met, shall be paid into
a
surplus fund until such fund shall amount t
20% of the paid-in capital of such bank, and of the remaining one-half,,
preceding: year.
11 to 3 to report
on
excess
Furthermore, it is provided ,that all earnings de¬
the ratio of their average
rency
alteredj the
60% shall be paid to the United States and 40% to the member banks in
115*
The Democratic members of the House
As
5% dividends is to be divided
dend of 5%
BANK—New York:
.Shares.
No trust company
•
.
important amendment adopted !on Friday of last'-
shall constitute
BANKING, LEGISLATIVE
pro-;
information,
week,changes the proviso that all profits above 5% dividends,,,
to
12,406,243
— —
Balance credit June 30 1912 carried to balance sheet—
general business conditions;
advice, concerning, discount rate re-dbscpupt business, notes*
the Government and 40% to
,
,804
11,1178"
————
on
written representations concerning actions taken,
"
—
Appropriations for additions and betterments
Appropriations for other reserves—
Other profit and loss items-—debit balance
or
^
(1) to meet and confer
■
gold,or" securities by,reserve banks,
„
—
'
.
*
...
f
banks and the general affairs of the reserve banking system.
Another
15,486,374.
:
'
of
-
$66,257,339
—-
Credit balance f<?r yeap 1912 from income account—.-.
Total
Dividends declared out of surplus
-
posed or .contemplated by said board: (3) to/call for comolete
16,783
"
■
directly with the. Federal Reserve Board
,
Appropriations for additions and betterm'ts ,
Appropriations for new lines and extensions '
term.
The Federal advisory council shall have power
by* Congressmen
reserve
balances with the Federal
Whenever and
so
long
as
reserve
bank for the
the surplus fund of the Federal
bank amounts to 20% of the paid-in capital and the shareholders
shall have,received the dividends at the rate of 5% per annum hereinafter
provided for, 60% of all excess earnings shall be paid to the United States
and 40% to the member banks in proportion to their average annual bait?,
ances
States
with such Federal
from
held?for the
Federal
reserve
reserve
bank; all earnings derived by the United,,
banks shall constitute
reduction of•the> outstanding
a
sinking fund to be
bonded indebtedness
of the
United States; said reduction to be accomplished under regulations to be
prescribed by the Secretary of the Treasury.
Should a Federal
reserve
336
THE
bank be dissolved
or
CHRONICLE
into liquidation, the surplus fund of said bank shall
go
be paid to and become the
property of the United States.
It appears also that there has been
sion regarding the
of the country banks, the follow¬
reserves
said remainder of
balances
on
15%
would call in loans.
Now I would like to ask advocates of this bill whether
they really think
such
in Its discretion, permit
may,
deposit with
any
some
district bank.
or
With the above proviso
or
changes in the tariff,
business
some
It is possible that these changes
disturbances.
Is
any
intelligent
person
of
disturbance in the banking world is going to alleviate
a
disturbance in the world of commerce?
a
I
re¬
believe
the mere agitation
this session has been
of the banking and
question at
currency
mistake.
I believe the plan of attempted banking
legislation at this session should be dropped.
I have a very
strong belief that this Senate will not pass a banking and
ciirrency bill at
this session.
I do not believe that the Banking and
Currency Committee
will report the bill at this session.
We have upon the statute books at the
eliminated,
this remaining 5% (after 36 months) can
only be
vault
very radical
the opinion that
The "remainder" in the foregoing refers to the 5% remain¬
serve
doubt, change and uncertainty in the banking world would be
We are going to amend the tariff, we are
making
result in
may
*
ing after keeping 5% in vault and 5% with the Federal
year of
a
desirable at this time.
required of country banks to consist of
bank in a reserve or central reserve city as
reserve
defined by law.-
Di¬
the banking world.
decided to stay out would feel the need of fortifying themselves and
they
ing provisos at the end of the second paragraph in Section 21
having apparently been stricken out.
Provided, that the Federal Reserve Board
xcvii.
uncertainty
Those banks that decided to join
would proceed to raise the necessary money by
calling in loans.
Those that
would prevail in
change in the provi¬
a
[Vol.
Much of this time would be taken in discussions and
controversy.
rectors would differ, stockholders would differ.
Doubt and
a
and currency
retained in
kept with the Federal district bank.
The
section regarding the exchange of the existing 2%
bearing the circulation privilege for new 3s without
the circulation privilege now reads as follows:
present time, in the Yreeland Act, a measure which in the hands of
a wise
and courageous Administration can be used to meet
any emergencies that
arise.
The measure might be amended, it might be
bonds
liberalized; I think it
,
ought to be; but I do not believe that
The Democratic conferees have also modified the bond-refunding sec¬
our
tion without materially changing the intent as
already announced in these
columns.
This section now reads as follows:
-
whole banking
advocates demand.
■
we
should undertake to revolutionize
and currency system in the pell mell haste which its
'
•
.
.
Upon application, the Secretary of the Treasury shall exchange the 2%
bonds of the United States bearing circulation privilege
deposited by any
national bank association with the Treasurer of the United
States
as
curity for circulating notes for 3% bonds of the United States without
circulating privilege, payable after twenty
The American Bankers' Association took action
se¬
day intended to bring about
the
after date of issue, and
years
:
:
:
;;
banking bill,
hereinbefore provided to an amount exceeding 5%
manner
total amount of bonds
culating purposes.
Democratic
of the
national bank fail in
any one year to so
exchange its full quota of 2% bonds under the terms of this Act, the Sec¬
any
retary of the Treasury may1 permit any other national bank
exchange bonds in
of the 5%
excess
deficiency caused by the failure of
aforesaid in
their holding of bonds.
houses
exchange
'•<
•
.
At the expiration of twenty years from the passage of this Act, every
holder of United States 2% bonds then outstanding shall receive payment
•
at par
and accrued interest.
After twenty
years
recalled and redeemed by the national banking association issuing the same
within a period and under regulations to be prescribed by the Federal Re¬
Board,
serve
to
and notes still remaining in circulation at the end of such"
period shall be secured by
Meanwhile,-
to
.
national bank
may
continue to apply for and receive
circulating notes from the Comptroller of the Currency based
same may
other obligation.
This is
a
very
of the country.
In the Senate
to forcing currency legislation
posed
also
0'Gorman
Senator
are
op¬
of
the extra session.
at
Senator Hitchcock of Nebraska belongs
apparently
eration in
of the Democratic members
some
New
York.
Tuesday Mr. Hitchcock voiced bis objections
as
the
caucus
follows,
currency
bills:
comprehensive
I
am
currency
has
for the most.searching discussion.
care,
become acquainted with it
The members of the Senate
nor
can
We
an
on
discussion of
a
The country has certainly not made
concluded,
to pass a
currency
bill,
even
bill
if it
a
up
its mind
on
possible, until the country has had
'
V
This
argument, however,
question to use this bill
least
United
that could appeal to this Congress
through important legislation in
as
emergency
Statesas
a
a
conspiracy of
That
reason
is
the
only
for railroading
emergency measure because it
out of the
will take at
twelve
cities
and
districts,
separate the 7,000 national banks into their
twelve organizations.
The bill provides ninety days, but the hearings, con¬
troversions and rival interests could hardly be settled in that
time,
or not.
C*
A
"
'
They would all have,
Many would
as
use
and the
"
'
v
',
-V
The meetings have been in
.
McAdoo; telegrams were sent to-day to the
presidents of the clearing-house associations of fifty-eight cities [to which
subsequently added, because they had [been overlooked—Ed
in the West,
South and on the Pacific Coast inviting the associations in
of the cities to send
discuss arrangements
a representative committee to Washington
relative to the deposit of
the Secretary proposes to
The conference
new
system
provided in the bill,
as
proposed in this
a year
to consider the
their charters and organise under
the full year.
to
Government funds which
make in the different sections to facilitate the
with the representatives of the clearing-house associa¬
tions in the Southern
morning,
cities will be held at the Troasury Department
the 7th Inst.
cities will meet the Secretary at the
ing, the 8th inst.,
•
on
The representatives of the Western
Treasury Department
on
Friday
morn¬
while the representatives of the clearing-house associa¬
tions of the Pacific
Coast will meet at the Treasury Department
on
Thurs¬
day, the 14th inst.
The cities which have been invited to have representatives at these con¬
Birmingham,
.
into the
matter before being compelled to give up
State laws.
opposition
to the effect of the bill.
go
.
of the Treasury has the last two days been
Fort Worth, Tex., subsequently added :
as
"
:V■' CA
\
ferences are as follows
prob¬
.
because of the widespread
Many banks would refuse to
the
different sections of the country obtained and
ably require six months,
general doubt
city of
A representative assembly of this kind
At least ninety days more would be required to induce
enough banks to
subscribe stock to make organization possible.
I think it would more
bill.
The commission
reserve
By" direction of Secretary
Thursday
a
the
has
the Democratic
movement of crops.
It is utterly
year of organization to put it into effect after its passage.
At least ninety days would be required to establish the twelve
name
house in each
.
Oppor¬
an
"
style.
is most fallacious.
an
Association
to the following announcement made on Monday by
the Treasury Department:
'
\
each
that might be brought about by
of the
case
response
legislation,
interests
Bankers'
11 in
much desired in order that it may be representative, full considera¬
three were
great money
'V
association.
bill at this session,which is that legislation of this sort is necessary
a possible business disturbance that
might result out
argument
the. clearing
Western and Southern crops.
the bank¬
in order to forestall
certain
American
after Aug.
soon
his willingness last week to make to facilitate the movement of
•
or
form
ditional Government deposits which the Secretary announced
concluded, and I
There is only one position that can be advanced for hasty action
upon this
of tariff
some
reach Congress through
discussing with Southern and Western bankers the arrange¬
ments for the distribution of the $25,000,000 to $50,000,000 ad¬
satisfactory
The country'is hardly acquianted with the
before Congress and I do not believe it wise
tunity to examine It, analyze it and criticize it.
currency
invite
The Secretary
I know in my
now
were
meeting
ceived, may be clearly understood.
think the country is anxious to have Congress adjourn when the
matter is
ing and currency question.
can
You will receive telegraphic notice of the time and place of the meeting.
tariff bill; the country is discussing
the tariff bill; the country is anxious to have the matter
banking and
We
This letter is sent you in advance in order that a brief telegram, when re¬
opportunity to
intelligent decision.
a
be given serious consid¬
should definitely determine to enact the pending measure into law.
Congress.
the difficult questions involved in this bill.
in the midst of
same
by the banking interests and that
passes upon it.
that I shall require a great deal more time to reach
are
wise that the
the merits or defects of the bill presented and brought to the attention of
give at this session neither sufficient time
study to this question to reach
own case
decision
an
a
tion had, the viewpoint of
The question in its present form
pefore Congress
seem
manner
commission of the
determined to
is very
revo¬
It calls for the greatest;
is entirely new and the American people are entitled to
practical
We should be very glad to have all clearing houses send representatives,
lutionary bill which my friend, the Senator from Oklahoma, has introduced.
The banking and currency question is a matter too delicate and
difficult,
to be treated in this inconsiderate and hasty way.
some
whether in reserve cities
this session the
and according to
measure,
important subject, vitally affecting all business Interests
It would
currency
bankers'
a
up at
tbis
country to send a delegate to confer with it; also the president of each State
attempt
legislation in the expiring days of this
certainly opposed to taking
on
This meeting would be held in Washington but for the extreme heat pre¬
I do not agree with the authors and am strongly opposed to the
to pass any
extra session.
public hearings
vailing there, and very likely will be held in Chicago.
a set of resolutions adopted and
by the Democratic County Central Committee of
pending tariff and
Aug. 11, in order
on
party measure and command the imited sup¬
a
public prints if not through committee hearings.
The
Sharpy County, Nebraska, recommending immediate action
on
no
determined to hold
On
after laying before the Senate
sent to him
be made
public expression be made at this time.
the
to this class, and
of
meeting.
the public prints even the minority members of the Banking and Currency
Committee were excluded from attendance.
substitute for such circulating notes in the form of clear¬
or
a
announce that a currency measure has
of the Democratic members of the House
caucus
There haVe been
no national bank
shall be permitted to issue other circulating notes of any description or
ing-house certificates, cashiers' checks
telegraphic call for
a
port of the majority party.
posits of 2% bonds bearing the circulation privilege: but
to make use of any
a
that the
the de»
upon
respond to
been finally and definitely agreed upon by the Banking and
Currency Com¬
mittee of the House of Representatives, and that the same will be reported
an
...
every
clearing
represented and also the presidents of the different
The public prints this morning
,
equal amount of lawful money to be deposited
Treasury of the United States by the banking association originally
In the
issuing such notes.
Secretary of the American
It is intended to have the
bill changed so as to remove any objectionable features. The
importance of the matter is urged upon the attention of the
bankers, and they are asked to hold themselves in readiness
from the date of the pas¬
of this Act,national bank notes still remaining outstanding shall be
sage
at the
A preliminary call for
State bankers'associations, the purpose being to secure an
interchange of views and take concerted action to have the
applying banks in proportion to
•
Monday.
General
as
Bankers' Association.
equal to the
any amount
any one or more banks to make
in any one year, allotment to be made to
Fred. E. Farnsworth
banks to
or
next
caucus
a
meeting was issued on Wednesday, signed by A. Barton
Hepburn, Chairman of the Currency Commission', and by
deposit with the Treasurer by said bank for cir¬
on
Should
that it is to be submitted for action
now
•
No national bank shall in any one year present 2% bonds for exchange
In the
Wednes¬
parts of the country for the consideration of the pending
exempt from Federal, State and municipal taxation, both as to income and
principal.
on
conference of bankers from all
a
[this includes Lexington, Ky., Duluth, Minn., and
Mobile and Montgomery, Ala.; Little Rock, Ark.; Los
Angeles and San Francisco, Cal.; Denver, Colo.; Tampa and Jacksonville,
Fla.; Atlanta and Savannah, Ga.; Chicago, 111.; Evansville, Fort Wayne
and Indianapolis,
Wichita, Kan.;
Ind.; Des Moines and Sioux City, Iowa; Kansas City and
Louisville and Lexington, Ky.; New Orleans, La.; Balti-
AUG. 9
337
CHRONICLE
THE
191^.]
Purchases
Md.; Vicksburg and Meridian, Miss.; St. Louis and Kansas City,
more,
Mo.; Duluth, Minneapolis and St. Paul, Minn.; Detroit, Mich.; Charlotte,
Charleston, Columbia, Spartanburg and Greenville, S. C.; Chattanooga,
New York City—
U
Wheeling, W. Va.; Seattle and Spokane, Wash.; Milwaukee, Wis.
The Secretary
which
1925
S. 4s
papers,
51,200—
103,900
123,700
522,300
74,800— 597,100
—
r
New York City
both the Thursday
52,700
88,940— 140,240
-
109,600— 233,300
New
with the Western bankers proved very successful, and Secre¬
Out of
_—
15,020
15,000—•
—___
'
'
10,000—
.
10,000
1961—
Panama 3s,
conference with Southern bankers and the Friday conference
20
—
Out of town
in the daily
51,300
Panama 2s, 1916-36—
country where the crop-moving funds are to be placed.
From the reports
-
Out of town
and that he thought those
thoroughly representative of the different sections of the
were
—
New York City
said it is not practicable to increase the number of cities
to be represented at the conferences,
are
selected
Out of Town__
Norfolk and Roanoke, Va.;
San Antonio, Tex.; Richmond,
235,750—$409,500
1Q13
U. S. 3s
Knoxville, Memphis and Nashville, Tenn.; Dallas, Fort Worth, Galveston,
Houston and
193,450—$353,950
Out of town
Okla.; Portland, "Ore.; Cincinnati, Cleveland and Columbus, O.;
•
■
$173,750
$160,500
New York City
Wilmington and Raleigh, N. O.; Omaha, Neb.; Oklahoma City fand Mus¬
kogee,
Sales
193Q
U. S. 2s
115,800
89,000
York City
town_7
—
170,800— 259,800
—
98,300— 214,100
?
tary McAdoo and Assistant Secretary John Skelton
Williams
felt
seems
The general plan agreed upon
highly elated.
to
provide for the deposit of $20,000,000 the present month,
$20,000,000
October.
in September and $10,000,000 more in
more
At yesterday's
conference Mr. Williams stated
prepared to deposit $100,000,000 if
that the Treasury was
After Thursday's conference the following state¬
necessary.
ment of what had occurred was
harmonious.
The con¬
ference with the Western bankers is to be held in the Department to-mor-
that with the Pacific Coast bankers a few days later.
mow,
Meanwhile,
plans and arrangements were tentatively agreed to as follows:
The Secretary proposes to accept as
security for deposits Government
other bonds of unquestioned
State, municipal and
bonds and high-class
All Government bonds will be
standing, and prime commercial paper.
accepted at par, all other bonds must be passed upon by the Secretary,
approved will be accepted at 75 % of their market value.
and when
Commercial paper offered must
be passed
Mr. Woods received
the charges.
on
twenty-seven
the day
June 26,
on
July 29, the date on which Secretary McAdoo made
on
conspiracy charge.
Returns made to Mr. Woods show
that there was a net increase of $78,000 in the bond holdings
his
of the New York
banks in the period named, and that only
This
was
the National City Bank,
of 2 per cents
creased holdings of other banks
net increase
special representative of the Department.
.
city.'
other than
Sub-Treasury cities, the representative will be some business
local banks and conditions,
man
of high character and familiar with the
to be
designated by the Secretary of the Treasury.
It is
In cities
smaller national banks of the city that I
These, of course, may have sold or bought bonds in
fact that the holdings of the large banks did not
small amounts, but the
much in the period under consideration is
vary
conclusive evidence to my
mind that there has been no "concerted action on the part
proposed that the commercial paper offered as security shall be de¬
commercial paper will be required to give a bond for
its safekeeping in some
surety company satisfactory to the Department.
proposed that one-half of the amount allotted to each bank will be
deposited with that bank in the month of August, the other 50% in Sep¬
Of the funds deposited, 25% shall be returned by Dec. 15, 25%
of
a
number of
banks" to depress the selling price of the bonds.
New York national
——^
...
In
The In-'
heard from are about $126,000, making a
of about $78,000 from June 26 to July 29.
have not heard from.
posited with one of the leading banks in the clearing-house cities to be
selected by the Secretary.
The bank thus designated as custodian of the
It is
one
There are about nine or ten
of the committee will be the
Assistant Treasurer of the United States, resident in such
Among the twenty-seven banks
decreased its holdings of bonds $48,000.
and
In Sub-Treasury cities, the sixth member
practically all the large national banks in
New York and many of the smaller ones.
returns,
which reduced its holdings
Mr. Woods on Aug. 2 said:
by $48,000.
making
be the
decrease in its bond holdings.
institution reported a
one
In each city, composed
one
of Government bonds held
which the currency bill was offered,
on
I have received answers from
of five members of the clearing-house association
additional member not a member of the clearing-house, who shall
replies from
Mr. Woods asked
heads of national banks.
each to inform him of the amount
;
by a committee of six
upon
thirty-five national banks in New York asking for in¬
the
formation
and
given out:
The discussion was free and full, but extremely
Representative Woods of Iowa, Republican, after the pub¬
lication of the McAdoo charge, wrote to the presidents of
bill introduced in Congress on Thursday by
a
Senator
Owen, the Chairman of the Banking and Currency Committee
ideas of the Greenback era are revived.
Government retire the existing
of the Senate, the
Mr. Owen would have the
tember.
by Jan. 15, 25% by Feb. 15
gold certificates as received, and to issue Treasury notes
of the bankers present
against the
and the remaining 25% by March 1.
Some
expressed a desire to return the entire deposit on or
whole amount should be returned not
before Jan. 1, and all agreed that the
later than March 1.
/
.
•
The Southern banks adopted the following resolution of
by
thanks offered by Walker Hill of St. Louis and seconded
Robert F. Maddox of Atlanta:
,
Resolved, That the Southern bankers to-day assembled express to the
the Treasury Department bur sincere appreciation of the
President and
and that we agree to the terms and conditions outlined.
Resolved, further, That we hereby express our sincere confidence in the
relief proposed,
Administration and believe that such interest and co-operation
present
as
proposed with the great agricultural sections of the country is but an indi¬
cation of its desire to faithfully serve the needs of the whole republic.
The
Treasury
Department has given out a number of
sued in
place of the
Division of the
and House of Representatives of the United
States of America, in Congress
assembled. That the Secretary of the Treas¬
ury
is hereby authorized and directed, as gold certificates are
the
Treasury
celed and
the gold represented by such
indicated.
Opinion
seems
tirely beneficial, a fear existing that Southern and Western
be encouraged unduly to extend their bor¬
Among the telegrams made public were the fob
producers
may
rowings.
lowing:
From
•
of the
President
Treasury of the United States at Washington,
to do so by national banks
year
Tenn.:
"Your intention to deposit
comes as manna
appreciated.
funds is'a
from Heaven and produces a
in the, right- direction.
It
fine effect.
It is most highly
"
congratulations."
Hearty
<•
/
"Plan proposed is most
From
a
Commercial National Bank,
practical and will do great good, and I believe
Please accept
my
sincere congratulations."
New York financier having large interests both in the West
interest thereon credited to the funds of the
Senator
Department has made
to my eyes
preserve
following plausible defense of
the
makes
'
•
The bill intends to build up the
gold reserve, which is now $150,000,000
simplify the form used.
its purpose is to unify the
.
;
.
"
Division without
cost, and by building up a very large reserve in the Redemption Division
it has the psychological effect upon the nation of establishing and main¬
can
build up the
gold reserve in the Redemption
taining confidence in the stability of our financial system,.
in gratitude to
the honor of
our
a
master stroke.
our
of coin and 30% of Government securities
The Bank of England has 62%
The Bank of Germany has
It makes tears of joy
Creator for giving us such as you to
and other securities
country."
than
view
of
the
Secretary
last week that the indications
of
Treasury's
pointed to
a
statement
conspiracy hav¬
National City Bank of New York has made public a review
such bonds during the month.
The
purchases aggregated $1,366,110, the sales only $970,800,
a net increase in holdings of $395,310.
In the case
leaving
of the 2s, the sales
explained that
a
somewhat exceeded the purchases.
large part of the transactions
were
It
for
correspondents and customers outside of New York City.
The following is the bank's summary for the month:
of gold against its gold certificates and less
of gold against its greenbacks and no gold at all against the
50%
national bank
the
ing existed to depress the price of Government bonds, the
of its transactions in
about 50% of coin and 50% of Government
against its note issue.
The United States has 100%
«—_
is
shall issue Treasury notes in like amount.
Owen
the bill:v*
currency and
When
canceled
canceled and retired the Secretary
against its notes.
"Your
In
Redemption Division.
reduction of which has been thus assumed,
of the United States, they shall be
shall come into the Treasury
and
South:
come
canceled, and a like amount of twenty-
3% bonds shall be placed in the Redemption Division and the annual
against $346,000,000 of greenback issue, and
,
;
will safeguard the situation.
•
bonds and paying the balance in cash to such national
Such 2 % bonds shall then be
We
Chicago:
by such bonds, charging the amount of such notes against the pro¬
of the Treasury
move
the President of the Continental &
From
2% bonds, to purchase such bonds at par, and ac¬
such national bank notes, the
."
having outstanding national
and to assume the redemption at par of the bank notes
ceeds of such 2 %
bank.
District of Columbia.
authorized, in his discretion,
Secretary of the Treasury is further
The
when requested
National Bank of Nashville,
Fourth-First
canceled gold cer¬
of the United States, redeemable in gold
and retired, and in lieu of such notes so
the
certificates transferred to the Re¬
demption Division of the Treasury, and in lieu of such
at the
received into
Sub-Treasuries of the United States, to have them can¬
or
tificates to issue Treasury notes
secured
way
We give the text of the bill:
Be it enacted by the Senate
crued interest,
deposits in the
same,
Treasury.
bank notes, secured by
divided, however, as to whether the effect will be en¬
taken up and 3% bonds is¬
but transferred to the Redemption
the existing 2% bonds would be
telegrams received by the Secretary commending in enthusi¬
Government
Incidentally
replaced with Treasury notes.
astic terms his action of last week in deciding to increase
to be
The outstanding bank-note circulation
same.
also be
would
\
notes.
The bill I introduced provides
notes
as
accrued
the
interest of the
2%
bonds now in the hands of the Comptroller
of the Currency as a basis of the
The bill
issue of such national bank notes.
provides that the United States shall, on request of any national
bank having such 2% bonds on
rency,
for the retirement of such national bank
and the taking over at par and
bankers wish to relinquish
deposit for security of national bank
cur¬
take over such 2% bonds at par and accrued interest and assure the
redemption of the national
bank
notes
issued against such bonds.
It
provides that when these national bank notes come into the Treasury for
redemption they shall be canceled and ajike amount of Treasury notes
issued and the 2% bonds, which are thus
the United States, shall be canceled
canceled
as
transferred to the ownership of
and 3% bonds reissued in lieu of the
2% bonds, and the 3% bonds placed in the redemption division
security for the issue of such Treasury notes.
This follows the principles
pursued by the great reserve banks of Europe, which keep on hand Govern-
338
ment
CHRONICLE
THE
securities with
which they could, if necessary, obtain gold for the
redemption in gold of any notes offered for redemption by the public. -
If all the gold certificates were thus transferred and all the 2%
were thus
and
$150,000,000 of
(Vol. 19r
American & English Encyclopedia of Law, 2d Ed., page
478.)
The sections above quoted restrict the trust companies of this
-
State In
the investment of their capital|to "stocks" or "bonds" of this State and make
the same restriction in reference to the transfer and assignment of securi¬
fund gold
reserve
xcvii
conferred, the statute must be construed in favor of the public."
bonds
taken over, the Redemption Division would have, in gold $1,006,-
000,000 of present warehouse gold
[Vol.
in the Redemption Division, a total of $1,236,000,000 of gold and $750,000,000 of 3% bonds, against which would be outstanding $1,000,000,000
ties to the Superintendent of Banks before engaging in business.
of
be held to include notes of the character referred to, and I
now
new
treasury
notes,
It Is difficult to
$346,000,000 greenbacks, plus $730,000,000
plus
of treasury notes issued in lieu of national bank notes, making a
that
total of
they do not
how the words "stocks"
see
come
"bonds"
or
as
so
used
can
of the opinion
am
within the meaning of said terms, and therefore that
$2,162,000,000 of notes against $1,966,000,000 of gold and bonds, which
would give the United States the most gigantic reserve in the world and
the trust companies of this State cannot substitute these notes for
regis¬
tered stocks or bonds of this State transferred or
assigned to the
would exercise
tendent
and
powerful psychological influence
a
stability the world has
V
'.-V
'
-
In
opinion,
intendent
of
General
not
are
■■■♦
to
Banks
Tuyl
Van
New
York
that
capital in said notes,
Super¬
State
limited
a
class
of securities,
including
curities by said companies.
Dated June 14 1913.
companies
trust
such restriction is placed upon the investment
no
of their moneys held in trust, provided the notes are deemed
proper se¬
14 Attorney-
June
on
decided
has
capital intact, invested in
notes.
It is to require trust companies to keep
While these companies are, in my judgment, not allowed to
Invest their
—
transmitted
Carmody
their
y";-'.''(
■,
/ •
invest their capital in said
nor
stocks and bonds, of the State constituting a part of its
general indebt¬
edness.
industry of the United
commerce and
of Banks
The intent of the law is clear.
financial
It would establish confidence and play
known.
ever
important part in making stable the
an
Superin¬
the United States
the people of the world, as the strongest expression of
over
States.
over
THOMAS
authorized to substitute short-term notes for regis¬
CARMODY, Attorney-General.
tered stocks and bonds of the State heretofore transferred and
assigned to the Superintendent.
opinion,
the
A decision in which the loss suffered
In the Attorney-General's
companies
trust
from investing their capital in the short-term notes.
to
The
blank, and passed improperly
innocent third party, is made to rest on the owner
an
following is the opinion in full rendered by him in the matter:
whose
BANKING
was
OF
LAWS
OF
LAW, SECTIONS 14 AND
NEW
BONDS
1913—SUBSTITUTIONS
YORK
ASSIGNED
TO
VESTMENTS
,
BY
THE
OF
TRUST
STATE
THE
OF
193, CHAPTER 645 OF THE
OF
NOTES
COMPANIES
HERETOFORE
CAPITAL
OF
STATE
THE
STOCKS
AND
AND
SUPERINTENDENT
THE
OF
TRANSFERRED
FOR
BANKS
OF
SAID
AND
IN-
COMPANIES
IN
assigned to the Superintendent of Banks pursuant to Section
STATEMENT. '
.
'
•
not
do, bills
him,
issue renewal notes for such purpose.
on
of $12,500
;
Willard H. Myers
of the
of his employment he was assistant note teller.
on
suc¬
INQUIRY..
trust
by trust
companies for registered stocks and bonds of the State heretofore trans¬
ferred and assigned to the Superintendent of Banks under Section
14 of the
Banking Law, and also whether said trust companies can invest their
capital in said notes purstiant to Section 193 of the Banking Law.
/■.'"' >■'■■■'OPINION.
."/.■■■'
loan
was a
trusted employee
during the last ten years
for over twenty years;
company
In 1904 Myers went to
the pretext that he wanted the collateral to return to Kelly, who, he
said,
was
about to pay his note, got this stock.
ISText day Myers handed
these stock certificates to William B. Hibbs, a Washington stock broker, to
sell for him.
pocketed
Hibbs sold the stock and paid the proceeds to Myers, who
them.
Hibbs,
of course,
purchaser, for value, of the stock.
was
in the position of
an
innocent
On the other hand, the trust company,
which wa£ the custodian of the stock, had in no way authorized its sale or
transfer
.
decide
The question for the United States Supreme Court to
by Myers.-
was
whether Hibbs, who had sold this stock in good faith on the
strength of the blank assignment on the back of it, or the trust company,
who had delivered the stock endorsed in blank to one of its
to whether
as
a
Kelly, of
the secretary of the trust company, who had charge of the collateral, and,
Every such
The total amount of such notes
of Banks has asked for my opinion
fact that
The trust company made
Mergenthaler Linotype stock.
on
when he borrowed the money.
employees, who
had been unfaithful to his trust, was liable.
notes issued in pursuance of said amendment can be
substituted
V
Kelly
issued
bonds
shall have been held within six months preceding the issue of
such notes,
of such notes or renewals thereof, issued and out.
V
P. M.
to
sale of
then the total amount
.
very
Day, who delivered the unanimous decision of the Supreme
a
standing, shall at no time exceed one-half of the total amount of bonds
authorized to be issued and the date which shall be six
months^after such
last preceding sale."
The
endorsed the stock in blank and delivered it to the trust company
course,
renewals thereof issued and outstanding shall at-no time exceed
one-half
of the total amountjof bonds authorized to be issued , and if no sale of
'.'.X;
I do not
this subject was not definitely settled.
"Justice
or
The Superintendent
right to transfer it to
the United States clearly indicates that the law
so
payable from the proceeds of the next
ceeding sale of bonds, and not otherwise.
no
that point is in the State courts of New York.
on
Court, in his opinion sets forth the facts:
of such sale,.the Comptroller shall, in order to meet the
note and renewal note shall be
who had
into the Federal Supreme Court.
case
by the Supreme Court of
anticipa¬
tion of
which the original note was issued.
In the event jthat
bonds shall not have occurred prior to the maturity of the notes
then maturing,
certificate*
certificate of
involving this question should be got into and should be taken up
case
a
The proceeds of the
renewal of any such note shall be issued after the sale of bonds in
notes
a person
a
who buy or sell stock.
commercial law
issued.
In anticipation
innocent purchaser, taking
an
important to the bankers and brokers of this State, In fact to all per¬
It is a very rare thing now to be able to get a
very
sons
of interest
or notes at a rate
All of such notes and any renewals thereof shall
be payable at a fixed time from the proceeds of the sale of
bonds, and no
were
as
.:
.
Safe Deposit, Savings & Trust Co. vs. Hibbs, rendered June 10, therefore, is
•
sale of such notes shall be used only for the
purposes for which may be
used the proceeds of the sale of bonds in anticipation of the sale whereof
the notes
this verbatim
"The decision of the United States Supreme Court in the case of National
,
issued.
presented in "Finan¬
absolutely protected against the owner of the stock.
was
positively just what the law
exceeding 5% per annum; hereinafter described as'notes,' maturing
a period not to exceed one year, in
anticipation of the sale of bonds
are
was
believe that any lawyer can at this time say to his client that he knows
within
duly authorized at the time such notes
by Henry Wollman of
case
question In New York whether
a
that
so
stock, assigned in blank, from
"The Comptroller is authorized to issue, whenever he
may deem it for
so to
always been
f
Supreme. Court
':':V'J: -'■ vV|
promissory note is,
14 of the
amended by adding thereto the following:
the best interests of the State
possible
wrong
States
of corporate stock were negotiable instruments to the same extent that a
and
By Chapter 64,5 of the Laws of 1913, Section 14 of the State Finance
was
the United
.
A discussion of the
follows:
Banking Law, notes of the State issued pursuant to the provisions of
Chapter 645 of the Laws of 1913, nor to invest their capital therein under
Section 193 of the Banking Law.
:
Law
by
cial America" for June 25, and we quote
"There has
and bonds of the State heretofore transferred
down
the law firm of Wollman & Wollman
The trust companies of this State are not authorized to substitute, for
V
misplaced confidence rendered the
handed
June 10.
on
SAID NOTES.
the registered stocks
through the transfer
of stock certificates assigned in
furthermore prohibited
are
"Justice Day said:
the question at
'Here one of two innocent persons must suffer, and
last is. Where shall the loss fall? ' It is undeniable that the
Indicia of ownership
broker obtained the stock certificates, containing all the
and possible
of ready transfer , from one who had possession, with the bank's
consent, and who had brought the certificates to him, apparently clothed
with the full ownership thereof by all the tests
.
usually applied by business
"
Section 14 of the Banking Law so far
"Sec.
such
14.
Deposit of bonds
corporation
in
trust
this
*
State
*<■
*'
*
*
or
engaged
*
as
material provides as follows:
mortgages
shall,
with
Superintendents.
in receiving
before
deposits of
engaging
in
Every
money
such
men
in
business,
transfer and assign to the Superintendent registered
public stocks
of the United States or of this State."
or
bonds
to
gain knowledge upon the subject before making a purchase of such
On the other hand, the bank, for a legitimate purpose, with
property.
confidence
intone of its own employees, entrusted the certificates to him,
with every evidence
of
"Sec. 193.
Who paid full
Investments
capital
*
mortgages
The
of every
notes
*
*
of capital, surplus, undivided profits and deposits.
such corporation shallgjbe invested in bonds and
or
in the stocks
or
bonds of this State."
provided for by the amendment
are
payable from the pro¬
ceeds of the next succeeding sale of
Statelbonds.
They are therefore but
temporary expedient to raise money in anticipation Of the issuance and
sale of bonds pursuant to the provisions of the Barge Canal Law
and High¬
a
way
Law and cannot therefore be regarded
.
as
constituting
a
burden of
State required to bet paid by general, taxation, but
merely
against, or lien upon the proceeds of the sale of these bonds.
The notes,
which are in the general form
value for them.
equitable
underlie
estoppel
In such case we think the principles which
place the
confidence has made, the wrong
the
The bank's
his duty, whether with technical criminality or
unimportant, took such certificates, thus authenticated with evidence
title, to one who in the ordinary course of business sold them to parties
not is
Section 193 of the Banking Law in part provides as follows:
The
of title and transferability upon them.
agent, in gross breach of
a
claim
of promissory notes, cannot
be said in any sense to come within the accepted definitions of
"stocks!*
"bonds."
loss
upon
him
whose
misplaced
possible'."
4'The Supreme Court, therefore, decided in favor of Hibbs.
"There has been a feeling of late years amonggmany New York lawyers
that when this question
should again
come
squarely before Our Court of
Appeals at Albany it would decide in favor =qf the full negotiability of cer¬
tificates of stock so that the purchasers thereof or lenders thereon would
be fully
protected;
and this decision of the Federal Supreme Court will
undoubtedly have much to do with the bringing about of such
cal holding by the
comes
an
unequivo¬
New York Court of Appeals when the question again
before that Court."
or
>
—
—♦
>•
The indebtedness of the State in which the capital of trust
companies
may be invested is
usually In the form of bonds.
As
After
Bartlett, J., said In
a
week's investigation,
the New York Stock Ex¬
the
case of Jenkins vs. Neff, 163 N. Y., 320:
"It is, however, to be re¬
membered that trust companies are very much limited as to the
money
change Committee
they
that
can use
for these purposes.
Their capital must be Invested in United
States
"no
on
irregularities
Business Conduct
has
have been found"
in the
announced
sale
on
bonds, State or municipal bonds, or first mortgage bonds on im¬
proved real estate, and Is thereby separated from the surplus and deposits
of the company that may be used for the
purposes to which reference has
July 26 of twenty-five Government 2% bonds by E. A.
been made."
ordinary
\
It is true that the notes in question bear the seal of the
Comptroller, but
under the decision of the case of Weeks et al v.
Esler, 143 N. Y.f 174. the
fact that they bear said seal does not make them
specialties.
"Loan, trust and safe deposit companies have only such
mere
powers as are
conferred upon them either exptessedly or
"They
upon
the
must
come
impliedly."
strictly within the scope of the
them under the statute-* under which they
manner
prescribed thereby.
are
Manice, of E. A. Manice & Co., which
way
conferred
incorporated and in
If there is any uncertainty as to the powers
sold, not in the
delivery twenty days later.
It had been suggested that it
might have been a short sale and it excited unusual attention
on account of the public charges by Secretary of the Treasury
McAdoo that the New York banks
powers
were
for delivery the next business day, but for
of
"governments" in order
to
were
depressing the valuo
defeat the Admininstration
bill for the revision of the country's
banking and
currency
Aug. 9
CHRONICLE
THE
1913.]
firm
The sale in question has been thoroughly investi¬
any person,
gated and has been declared to be tree from all irregularities.
and surplus.
system.
■<
corporation remains at 20% of capital
or
'
»
.
*
Vernon H.
Robert C. Ogden,
self-made
man,
merchant, publicist and
died at his home in this city last Tuesday at the
man,
philanthropist, died at his country home in Maine last
known
as
of
Mr. Ogden is best
the head of the John Wanamaker store in this city
Wednesday,
seventy-seven years.
age
Gen. Samuel Chapman
He succeeded
philosophy.-
which continued in business until
ship
and
new
Fifth Avenue
Broadway
to
run
feet above the street level, admitting
director in the Northern Insur¬
a
Staten Island
Rapid Transit Co., Panama
elected him
Hilton.
B.
In 1904 the Cham¬
Commissioner of Pilots
The
board
of
the
of
sympathy, commending the useful services Mr. Brown
rendered during his lifetime to the banking and mercantile
community.
a
•
»-
'
The tellers'
room.
The initial steps
departments will occupy the street floor of the main banking
room and a mezzanine gallery at both ends of this room will
at 67 Clinton
min F.
convenient staircase placed near the Broadway entrance will
■
rooms
the
mezzanine,
the
committee
and
close of the half
years ago
of
corner
The Old
The Lincoln
vestors, inasmuch
The company's down-town office
guaranteed, the
during the
made at the late session of
Breckenridge Carroll, Asst.
Under
The
duty of the Commissioner to annually designate and approve
certain cities as reserve cities for State banks.
This section
each
of all
depositing bank
reserve
a
detailed daily "statement of account
It is also provided that
moneys.
Detroit and Grand
other than
bank deposits a legal
and cash
reserve
cities,
Rapids, must maintain
on
of, 20% and 10%,
re¬
reserve
spectively. This section also gives the Commissioner the right
to
prohibit
any
bank in
a reserve
bank for State banks where any
city from acting
as a reserve
provisions of the Michigan
banking laws have been violated.
An amendment to Sec¬
the extent of
50% of capital and surplus, instead of capital
Section 52 has been changed so
the making
to any
to allow
of loans not to exceed 10% of capital and surplus
without collateral
or
as
or
endorsement, to officers
partnership in which such officer
or
or
directors,
director is
partner, or to any corporation in which such officer
rector owns
or
di¬
Where such loans
ex¬
capital and surplus, then such loan must be
se¬
a
ceed 10% of
majority of the capital.
cured by collateral or
endorsement,
be filed with the bank
the officers
a
or
or a sworn
showing sufficient net worth entitling
directors to such credit.
statement must
*
The loan limit to
case
of each system
of prices at which the bonds
1903
1912,
to
savings banks.
on
bank
July 15.
tion but
eight
after its
opening,
of
inclusive,
are
and
considered
sold
were
New
the
a
legal in¬
*
.
in
of
Worcester, Mass.—
point of
deposits in Massa¬
years,
on
The institution has been in
having started
on
Feb. 4 1906, it
$1,868,744, and its growth.since
rupted.
By February 4 1912 the
Feb. 6 1905.
was
One
year
able to show deposits
then
same
over
opera¬
has been uninter¬
item reached $4,678,-
'
656;
on
shown
February 4 of this
of
F.
C. S.
A.
a
it
was
$6,300,788, while,
as
further gain, during the five
The "institution
isLunder the management
Drury, President;
C. A. Evans,Vice-President;
Putnam, Cashier; A. R. Brigham and E. W. Jenkins,
Assistant Cashiers.
while
year
above, there has been
months' interval.
it
has
surplus
The
capital of the bank is $750,000,
and profits in the neighborhood of
$770,000.
«
tion 23 permits State banks to carry real estate mortgages to
stock alone.
elabor¬
Analysis
exceedingly useful to in¬
Merchants'. National Bank
$6,500,000
a new
provides that all banks in reserve cities must furnish to
an
chusetts outside of Boston—reported a deposit account of
section which has been added to the statutes, it is made the
also
range
the largest national
theMichigan Legislature has been
prepared by State Bank Commissioner Doyle.
director of the Bank
splendid piece of work
a
England States in which the bonds
changes in the laws affecting banks
the
It is
prove
it includes in the
as
years
vestment for
\"V:
of
a
history, comparative capitalization, earnings and traffic
statistics, a description of the bonds issued, assumed and
Vice-Presidents, HoraceF.Poor, Vice-President ^Treasurer,
outline
was
its
up-town office at Broadway and 72d St.
Mr. Webb's
official associates are Abram M. Hyatt and Owen Ward,
An
De Mott
hundred pages, entitled "An
seven
typographically, and should
of Broadway and Lispenard Street and the
Treasurer.
Mr.
Colony Trust Co. of Boston has issued
Railroad Corporations."
of
and had at the
profits of .$1,516,655, and aggregate
Frederic P. Davis, Secretary, and
vice-presidency.
Buffalo, N. Y., to succeed the late Henry C. Howard.
ate volume of
year's business, June.30, deposits of $11,918,-
of $13,581,883.
the
to
Niagara Falls, N. Y., has been elected
C. H.
The announcement of these
organized eleven
863; capital, surplus and
the
ap¬
George J. Howard, President of the Bank of Niagara,
the bookkeeping department.
home will be permanently established.
on
Brooklyn have
office by Milton ,C. Donn.
building plans sets at rest all rumors of the company's pos¬
district, where its
Trust Co. was
time
entire
sible removal from the Madison Square
is
Spellman.
formerly Assistant Cashier and will be succeeded in the latter
on
of the features in which the architect,
one
resources
Saul Oliner,
Balmanno, Vice-President and Cashier, who will devote his
with
Gilbert, takes special pride.
new
are
elevator in this same location will furnish quick
third floor offices of
the
The incorporators
Abraham, John E. Goerz and Benja¬
The board of the Mechanics' Bank of
the second floor and the bookkeeping
department and storerooms on the third floor.
Several
large
skylights will admit light
during the daytime
to
bank
the East Side of this city, to be known
on
pointed Harry M. De Mott Cashier, succeeding Charles G.
communication
This is
a new
to the safe-deposit establishment and a
easy access
reception
Street,
Isidore Oliner, Albert
banking appointments for customers.
The banking room
fixtures are to be of bronze and Pavanazzo marble.
A
passenger
have been taken to organise
the "Clinton Bank."
as
contain the executive officers' quarters and also additional
provide
to
Hanover
.
the main banking
flood of daylight to
for
National Bank, at a meeting yesterday, passed resolutions
stories in height with the decorative steel
first floor rising 26
Deposit Co.,
the
William
succeed
exteriors will be identical of white limestone, three
windows of the
way
Co.,
of Commerce
ber
both
on
Seamen's Bank
Railroad Co. and the Sterling Salt Co.
through from
and have entrances
the
trustee of the Atlantic Mutual Insurance Co,
of the United States trustees of the Royal Ex¬
Hanover Safe
The construction of the Fifth Avenue and Broad¬
avenues.
the dean of steam¬
as
senior director in the Hanover
was
director of
a
From
shipping interests
a
one
ance
building which is expected to be ready for occupancy
Its new home, to be located two doors sduth
Fifth Avenue, will
with
change Assurance Corporation of London, President of the
March 1 1914.
of the main office at 208
and
Bank
Savings,
science of the age."
Mr. Brown
men.
National
Webb, President, has this week awarded the contract for
its
to
came
few years ago.
a
connection
known in this country
became
he
Theological Seminary of New York.
Company of this city, Alexander S.
The Lincoln Trust
intimate and long
his
Educational Board, trustee of Tuskegee
ventions and commerce the greatest
Son in 1853, and later he
New York and founded the firm of Vernon H. Brown & Co.
from one of his books sums up his practical
"Popular education is the greatest of all in¬
This passage
representative in the United States, from 1880 to
firm of Vernon Brown &
Armstrong, his friend and founder of
and director of the Union
age
identified with the
was
He established, wdth his father, the Boston shipping
1909.
arid for
dent of the Southern
Mr. Brown
years.
Cunard Steamship Co. for thirty years as its American agent
Institute in Virginia, as President of the Board
many years he labored faithfully as Presi¬
the Hampton
of Trustees
eighty-one
and chief
until his retirement six years ago, and for his educational ac¬
tivities in behalf of the negroes of the South.
Brown, the well-known shipping and business
An
application to organize the Grove Hall Trust Co. of
Boston with
a
capital of $200,000 and surplus of $25,000
has been filed with the Board of Bank
stock will consist of 2,000
a
share
(par $100).
Incorporators.
The
shares and will be sold at $112 50
Those interested in the
movement
are:
Llewellyn W. Vinal, William R. Flanders, William C. Bow-
ditch,
William F. Murphy, Charles W. Restarick, Dr.
Miranda, Joseph Coffin, Thomas F. Cannon, David
B. Cogan, Rudolph F. Koops, Edward L. Frederick, Frank
I. R.
W. Morse and Abraham H.
Goldberg.
The, institution will
be established in the Grove Hall section of Boston.
The
is erecting a
Security Trust Co. of Lynn, Mass.,
handsome
home
Central Square.
building
will be eight stories in height, strictly fireproof, and will
occupy the most prominent corner in the city.
The com¬
pany has a capital of $200,000, surplus and profits of $236,725 and average deposits of $4,000,000.
Benjamin F.
Spinney is President; Luther S. Johnson and Charles S.
Grover, Vice-Presidents; Harrison P. Burrill, Treasurer, and
new
on
The
new
Ralph C. Broad, Assistant Treasurer.
-
'YYVY.
.;Y\ Y--
S
,
,'Y
•
The American Industrial Bank & Trust Co. of Hartford,
•
Conn., has been organized with
$100,000 each.
It will
Travelers' Insurance
a
The
Building.
the management of the following
President;
capital and surplus of
for business
open
Sept. 2 in the
on
bank will be under
new
Joseph H. King,
officers:
Mr. King
the American National Bank
prior to its
;'• ' '.V
-YY
•
■
'''Y:''
—
The Columbia Trust Co. of Middletown,
cided
to
into
go
organized in 1896 and did
of 1907,
when
ment met this
run
The
disposal of
or
The institution again opened
zation,
1911
a
order restraining the pay¬
a
specified period.
(which
was
of seven)
one
a
Shortly before the reorgani¬
settlement with the depositors had been made.
suit
a
At that time
its doors in June 1909 to do
trust and investment business.
tained by Judge
the 16th ult.
was
Co.
bank, in which it
sought to
was
In
brought by the
damages from the
recover
directors for losses claimed to have resulted from unsound in¬
which, it
the
negligently made,
contended,
was
new
as
powers
decided in favor of the
of
com¬
been decided to wind up the affairs of the
trust company cannot do business under the
It has
'concern,
was
securities and agreements
beyond the legal
were
The suit
corporation.
pany.
upon
banking law with
an
The institution
impaired capital.
is capitalized at $100,000 and its
estimated
are
resources
the form of securities.
about $25,000, in
First.
any
Acting Comptroller of the Currency Kane has authorized
receiver of the defunct Atlantic National Bank
R. L. Curtis,
of Providence, to pay a
When this dividend, which will amount
of the institution.
to about
dividend of 12^% to the creditors
$250,000, has been paid, the creditors will have
authorized
was
we
stated in.
our
April 14 last/
by acting Comptroller Kane recently,
as
The bank suspended
on
issue of June 28.
V''"
7....
...
'
,
of their offices to the
ner
of South and German streets, Baltimore.
of the firm consist of John D. Howard, for
guilty"
of the loans
Third.
on
years a
partner in the firm of J. Harmanus Fisher & Son; Wm. E.
accordance
in the
with Judge
returned
case
a
ver¬
pro¬
offered
tending to show
the defendant
that
Cox
was
solvent and would
was
justified In
all these
repay
•' ,Y.:,
■.
in advance by the
mittee and approved by the board of directors, which
\v-Y 'y-VY'
that
a
Y
■
the
site where J. Harmanus Fisher & Son
prior to the fire of 1904.
*
were
that the bankers
were
jury acted in
entitled to acquittal because it had
not been shown that there
was
abstraction
any
Both indictments
on
down in March.
Under the second indictment
which Mr. Cox
tried
was
as
charged.
were
handed
others
seven
indicted jointly with Mr. Cox, but he requested that
were
he be tried first and separately.
YY
Y'YYYY
vYY-".-:'Y'
'
An advance copy
♦
Y
Y'YY.'Y*
'
.."YY-'1.'":1''
-
of the "Annual Business Review" of the
Continental & Commercial National Bank of Chicago, has
to this office.
The complete report
will be ready for
distribution Aug. 25 and can be had on application.
Review¬
ing current business conditions, G. M. Reynolds, President,
says
a
"General business in this country is showing
in part:
degree of
confidence and coinage that is both reassuring
and remarkable in view of the rather strained credit situation
This confidence and courage all through the Middle
abroad.
West and in fact the entire United States is
indicative of
generally accepted
sound business situation.
a
The most strik-
a
back
located
National Bank,
referring to the agricultural prospects and
business outlook, is the absence of. pessimism in face of a
rather high and
v
".'Y.
•
tight
market."
money
Y'Y'':
"
■
—
YY
♦-—-
■
The stockholders of the People's Bank of Sumter, S.
voted last Monday
city
annqunces
that the 250
corporations in Pittsburgh and tributary territory paid Gov¬
ernment income taxes for 1912 on net earnings of $213,520,927.
This is 6^% of the earnings of all the tax-paying cor¬
porations of the United States, which amounted to $3,304,000,000.
The Farmers' Bank & Trust Co.
city is another institution which, it is stated,
same
soon
,:Y.
.
proposed increase in capital.
upon a
Y-
♦
"■
The boards of directors of the Southern National Bank
and
the Murehison National Bank of
this week
to
their
stockholders.
Wilmington, N. C.,
consolidation of these banks
No details have been made public
agreed to recommend
a
operated by the Murehison National,
surplus
and
profits,
were
$49,313,213; capital, $6,000,000;
$2,122,393;
loan£
and
investments,
Wilmington and has
H. C.
McQueen is President.
and
deposits of $835,895.
the latter,
a new
Charles N. Evans, President of
4
The
capital is said to be $1,000,000.
merger on
Trust Co. of
April 1 of that institution
with the Central Trust Co., is President
Ross E. Mitchell is Secretary.
the
Augustus Jennings, who
had been Assistant Secretary of the Farmers'
Indianapolis since the
on
company's authorized
of the
new company.
transferred its deposits on the 22nd ult. to the Vanderventer
It
was
city.
The Continental Trust Co.
a
scheduled to
A charter for the
was
in¬
capital of $100,000—one-half
open
in June.
♦
'Y
Stockyards National Bank of Kansas
issued by the Comptroller of the Currency on
June 27:
The institution represents a conversion to the
national system of the Stock Yards Bank of Commerce.
In
City, Mo.,
was
changing to
a Federal
000 to $200,000.
bank, the capital is increased from $100,as President.
Charles E. Waite continues
•'
The directors, including the
.
It is announced that the Continental Trust Co. of St. Louis
paid in.
institution, formally opened for business
a
dency of the Atlantic Trust & Banking Co. of the same city.
Savings & Loan Association of Indianapolis,
16th ult. at 20 South Illinois St.
The Southern National has
will retire and devote all his time to the presi¬
Trust Co. of that
Ind.,
capital of $825,000,
capital of $200,000, surplus and undivided profits $160,000
corporated in May with
♦
a
surplus and profits $564,000 and deposits of over $3,635,000.
and aggregate resources,
The Colonial
the
The Murehison National is the oldest and largest
$42,559,592; due from banks, $9,205,166; cash, $9,112,545,
$60,877,303.
over
subject to
approval of the stockholders and the Comptroller of the
At the close of business July 31 the deposits of the
Mellon National Bank
C.,
in favor of increasing its capital stock
from $50,000 to $100,000.
Currency.
•
convincing proof of the prosperity of Pittsburgh, the
Mellon National Bank of that
'
ing feature of the advices to the Continental & Commercial
national bank in
As
YyY
were
accordance with the instructions of Judge Caldwell, who held
and
to the old
com¬
note for $352,500
a
also
case
: Y.
■<
executive
full and complete
trial with him
on
acquitted of the charge of abstracting
In
is
Y Y/'Y.'/YY
On June 5 Mr. Cox and four others
from the institution.
Intent
an
defraud the bank.
or
The loans were authorized
exoneration.,'"; \ YY-Y'Y. yY, '
follows:
of the moneys and funds of the bank.
any
shows
were as
the defendant, made
Bush, formerly of Atlanta and Augusta, Georgia, and Oscar
goes
on
institution's
M. Lemoine.
thejirm
on
June 18
other than that the Southern National would be taken
In taking these new offices,
sus¬
the 16th, thus terminating the
misapplied
or
evidence
The
Fourth.
cor¬
The members
fifteen
in
That there is no evidence
the removal
ground floor of the Garrett Bldg.,
on
the
The Court's instruction to the jury
will also act
—-—•
John D. Howard & Co., bankers, announce
of
That the evidence fails to show that Cox,
Second.
of the
•
was
re¬
The first payment of 25%
ceived 37}/2% of their claims.
trial
on
$115,000
Acting
by the defendant Cox to injure
as
*
June 7,
on
placed
was
misapplying
Indianapolis.
ceedings.
'•YYYY/Y Y-S
*
.
Mr. Cox
of
dict of "not
now
a
attorney
through alleged illegal loans to the Ford & Johnson
of
come
vestments
by his
Caldwell in the Common Pleas Court
Caldwell's instructions, the jury
against the former officers and directors of the
company
charge
.money
was
The manage¬
In Oct. 1908 it experi¬
assets for
any
Cincinnati, made
■
Conn., has de¬
company
which caused its suspension.
the company was placed under an
ment of funds
Y:YY YY "VY'0
against George
Cox, formerly President of the Cincinnati Trust Co. of
loans.
the bank.
on
without trouble.
run
enced another
a
caused
a run was
■
first
successful business until the panic
liquidation.
The motion for the dismissal of the action
B.
believing the Ford & Johnson Co.
'
Conrad Jennings, William P.
are:
Weathers.
Cashier of
now
the First National Bank of Rockville, Conn.
V'""'
last year
merger
Mr Larkum is
with the Phenix National.
President of
was
xcyii.
Kappes, Henry J. Martin, Joseph J. Sehmid and Lafe D.
and Harry H.
George Ulrich, Vice-President;
Larkum, Secretary-Treasurer.
above-mentioned officers
the
Y"
"
[Vol.
CHRONICLE
THE
340
"
—
♦
•
-
'
.
.
*
Auo. 9
THE
1913.]
Richmond,
Va., were larger than the combined deposits of the next
two largest banks in Richmond at the last bank call of the
Comptroller, June 4 1913.
On the latter date this institu¬
tion, which was consolidated with the National Bank of
Virginia Sept. 1 1912, had a line of deposits aggregating $12,501,202, surplus and profits (all earned) of $1,349,542, in
of the First National Bank of
The deposits
addition to its capital of $2,000,000
and total
resources
of
Of its assets, $6,157,368 was promptly avail¬
$18,968,599.
able, $8,148,378
available in from 30 to 60 days, $2,-
were
874,807 due within four months and $1,788,046 was due after
The bank pays
four months.
the rate of
12%
dividends to stockholders at
Colonel John B. Purcell is
per annum.
President, John M. Miller Jr., Vice-President, and W. M,
Habliston, Chairman of the Board.
•'
'
•
A
new
open
-
.
incorporated in Louisville, Ky.,
of the United Bank & Trust Co.
It will
institution is being
under the
name
The bank
about Sept. 1 with a capital of $250,000.
purchased the fixtures of the defunct Commercial Bank
& Trust Co. of that city, which failed on Jan. 22 last, as we
announced in these columns on Feb. 8.
O. L. Ballinger, it
has
is stated, is to be
Co. of Wheeling, W. Va., on
late J. N. Vance,
who died
on
engaged in handling the sight-seers in attendance at a
parade incidental to the Potlatch celebration. The outburst
it is said, was inspired by the agitation against the red flag,
and the desire for revenge for the injury suffered by five sail¬
in
ors
a
street fight with members of the I. W. W. on the
previous night, July 17.
ganizations, with the Ranier Club, on the 23d ult. joined in
a memorial to President Wilson exonerating Secretary Dan¬
iels from knowledge of
ment
the 31st ult., to succeed the
June 26.
The officers
the 2d inst. with a capital of $50,000.
Dr. C. E. Duvall, President; T. E. Acklen
are
on
andUlay W. Black, Vice-Presidents, and E. D. Esty, Cashier.
^—
The Gerinania State Bank of Denver, which
in March 1912, with a
began business
capital of $30,000, will be placed in
about
$15,000) having been transferred to the Hamilton National
voluntary liquidation, its deposits (said to amount to
Bank of Denver.
The reference
I made to the flag, and my statement that the red flag
banquet of the
It had
no reference whatever to local conditions in Seattle.
I believe in free speech
and a free press as the bulwarks of our liberty.
Every evil that exists or
that threatens our country can be righted by appeal to the judgment of
the American people.
The weapon is the ballot.
The man who resorts
to
violence
to
redress
evil
is bringing more evil into existence
than he can hope to cure by violence.
Obedience to lawful authority
and respect for the flag must precede any reforms.
The man who takes the
law into his own hands imperils American institutions and jeopardizes the
meant danger, was
the same as originally made by me at a
Railroad Men's Y. M. C. A. at
hope of securing
Washington City a few days ago.
furnished to the New
Mayor Cotterill the following reference to
»
speaker not connected with the Industrial
Workers while talking on woman's rights was interfered with by an in¬
toxicated sailor.
The street crowd resented it and a fight ensued, four or
Thursday night a woman street
sailors participating.
capital of the Calcasieu Trust & Savings Bank of
is to be increased from $150,000 to $250,-
000, according to the New Orleans
"Times-Democrat;" The
and no serious injury
complete police protection immediately
patri¬
red flag of
anarchy, but making no suggestion of local application.
The Seattle
"Times" on Friday printed with lurid headlines a sensational article com¬
bining a report of Daniels' banquet speech greatly distorted with an ex¬
aggerated account of the street fight, making it appear that Industrial
Workers and red flag anarchists had attacked, beaten and stabbed United
States sailors and soldiers; an utterly false statement.
The article referred
done to any one.
was
to the
That same evening Secretary Daniels gave a
at a banquet,
otic address
taking occasion to denounce the
probability; of sailors from the fleet and soldiers from the
retaliate, and practically incited such action.
forts coming
that night to
"Times,"
The editor of the Seattle
telegraphic
•
Lake Charles, La.,
complains.
real relief from conditions against which he
quote from a statement
We also
communication
handed, led
on
York "Times,"
the New
to
,
the other hand, in a
the Seattle "Times"
makes the statement that
The
following state¬
regarding the matter:
five soldiers and
The Park Bank & Trust Co. of Memphis, a new institution,
opened for business
the riotous scenes in connection with
Secretary Daniels gave out the
the attack.
There was
:
•
Chamber of Commerce and other civic or¬
The Seattle
the disturbances:
elected President of the Security Trust
was
were
York "Sun" by
President of the hew bank.
+■—
W. E. Stone
341
CHRONICLE
has, single-
of
fight for Old Glory against the display
a
Anarchy's dirty emblem and against
the Reds' horrible ideas."
the dissemination of
surplus is to be increased in like manner, making a capital
and
surplus of $500,000,
TRADE AND TRAFFIC MOVEMENTS.
.
LAKE
been elected President of the Con¬
tinental Trust Co. of Denver, succeeding Col. William E.
John W. Springer has
Hughes, from whom Mr; Springer has bought, according to
the Denver
"Republican", five-sixths of the ownership of the
of
$300,000.
The institution has a capital
for $40Q,000.
trust company
The banking business of the company was
Trust Co. Mr.
Springer states that his company will devote its energies to
the trust business, while also maintaining its bond and safety
to the Inter-State
disposed of in April
Mr. Springer was formerly President
Continental Trust, but was superseded in that office
deposit departments.
of the
by Col. Hughes in November 1912, following the
of control
acquisition
by the latter.
Allan F.
Continental Trust Co., has
disposed of his
Vice-President and
director, his resignation taking effect July 8th.
Mr. Ayers
continues temporarily to represent the trust company in the
receivership of the Denver Laramie & Northwestern RR.
and resigned
stock in the company
as
He has not determined upon his future course.
Port (tons).
Escanaba.
1913.
858,696
Marquette
496,725
Ashland._
754,329
Superior..2,396,064
Duluth
1,938,716
TwoHarb.l,759,886
18th
ldt.
by soldiers and sailors from the Pacific
fleet anchored in Elliott Bay, Mayor
Cotterill under¬
which
to be responsible for the outbreak.
According to the
"Post-Intelligencer," Mayor Cotterill, in support
took to prevent the issuance of one of the local papers
he held
Seattle
of his
action, contended that the report of
at the Ranier Club
(in which
a
•was
an
speech made
referep.ee was made to the red flag), was exagger¬
designed to
issued
a
by Secretary of Navy, Josephus Daniels
ated by the paper in
question—the Seattle "Times"—and
incite to
riot.
Accordingly,
the Mayor
order suppressing the editions of the "Times"
closing the saloons.
the result that
an
An appeal
order
was
was
and
made to the Court, with
issued restraining
the Mayor,
the Chief of Police, and other agents of the city, from
fering with the publication of the "Times.":
ing the saloons was also suspended by
on
an
inter¬
The order clos¬
injunction issued
The attack made by the
the 18th occurred while the police
by Judge John E. Humphries.
soldiers and sailors
1,556,501
2,264,031
7,073,413
5,934,664
4,841,552
1
to July ,31
1911.
1912.
1,711,806
843,177
1,102,263
2,478,294
'
1,430,814
2,103,858
4,698,855
6,668,655
4,385,802
4,223,481
3,158,450
2,549,740
PRODUCTION .—The anthra¬
tidewater during July 1913 reached
5,487,852 tons, a decrease of 797,301 tons from July 1912.
In the following table we indicate the shipments by the
various carriers for July 1913 and 1912 and for the periods
ANTHRACITE
COAL
Jan. 1 to
July 31:
.
Philadelphia & Reading.,
Ontario
COPPER
6,285,153
40,339,706
32,382,132
865,618
883,312
687,843
'i—
439,912
545,655
—
683,161
213,213
—5,487,852
Total....
AND
PRODUCTION
31—
1912.
708,568
231,587
775,550
871,677
589,589
1
July
6,479,227
5,857,344
4,237,708
4,600,896
3,261,055
2,900,546
3,876,108
1,169,248
1,217,892
1,144,678
& Western.
to
1913.
7,761,147
7,604,118
5,351,214
5,661,037
4,094,128
3,607,018
4,762,953
1,498,091
902,763
1,011,987
Lehigh Valley..—
Central Railroad of New Jersey.
Erie
1912.
"1913.
.
...tons.
1
—Jan.
■July
Roadr-
Pennsylvania
As the result of the wrecking of the quarters in Seattle
of the Socialist
and the Industrial Workers of the World
the
1913.
2,659,299
5,221.373 24,329,460 21,290,904 14,064,291
Total ..8,204,416 7,600,233
Delaware Lackawanna & Western..
.
.
reserve
Jan.
Jan
July
—
1912.
1911.
836,346
644,098
511,924
309,438
771,057
439,843
2,324,324 1,747,364
1,540,324 1,108,316
1,616,258
972,314
Delaware & Hudson
on
SHIPMENTS.—The
ORE
cite coal shipments to
Ayers, for the last two and one-half years Vice-
President of the
IRON
SUPERIOR
shipments of Lake Superior iron ore in July 1913 were again
of unusual proportions, reaching 8,204,416 tons.
The total
for the season to Aug. 1 1913 is also of exceptional magni¬
tude, reaching 24,329,460 tons.
In the following table we
give the shipments from the various ports in July 1913, 1912
and 1911 and for the season to July 31.
CONSUMPTION
—
Copper Producers' Association,
trifling increase (690,339 lbs.) in
the stocks of marketable copper on hand.
The production
gained 16,213,749 lbs. over June and also increased as com¬
pared with last year.
In the following we compare the
various items for July 1913 and 1912 and for the periods from
Jan. 1 to July 31.
We also add figures to indicate the
European visible supply:
The July statement of the
issued yesterday, showed a
—Jan.
July
1913.
Stocks beginning period
Production
1912.
44,335,004
138,074,602 137,161,129
lbs. 52,904,606
1 to July 31
1913.
1912.
105,312,582
89,454,695
947,268,628 872,747,012
190,979,208 181,496,133 1,052,581,210 962,201,707
Total supply
Deliveries for-—
488,095,914 465,516,468
Domestic consumption
58,904,192
71,094,381
Exports
78,480,071
60,121,331
510,980,351 446,404,818
137,384,263 131,215,712
999,076,265 911,921,286
—
53,594,945
Stocks end of period..
European
visible supply—
Beginning of period
End of period
•
,
50,280,421
53,594,945
50.280,421
,
63,105,280
93,235,520
63,557,760 100,858,240
90,451,200 128,313,920
63,557,760 100,858,240
342
THE
CHRONICLE
month of 1912 of
same
6.2% but for the
Clearings at—
Inc.
1913.
the gain reaches 2.5%.
'
San Francisco
Los Angeles*
Seattle
Portland-.
July.
Salt Lake City—
Seven Months.
Clearings at-
Spokane
Inc.
1913.
1912.
or
Inc. or
Dec.
1913.
1912.
Dec.
Tacoma
Oakland..-Sacramento
Canada—
Montreal
$
243,647,783
179,688,146
120,226,677
51,411,370
18,381,355
19,725,926
15,666,875
15,428,229
18,405,035
15,829,697
9,658,991
7,635,859
7,700,705
9,632,906
7,484,875
4,365,191
2,591,086
2,390,978
2,843,605
4,936,007
2,496,289
2,654,598
__
Toronto
Winnipeg.
Vancouver._
Ottawa
Calgary
Quebec
Victoria.
_
Edmonton—
Hamilton
Halifax
__
St. John
London
Regina
Saskatoon
Moose
._
Jaw.
Brandon
Lethbrldge—
Brantford
Fort William
New West'er
Medicine H't
Total Can.
262,504,534
203,177,624
115,298,644
53,840,212
24,739,635
22,618,299
17,048,237
17,067,927
17,254,170
15,948,733
8,916,294
7,889,064
7,134,495
8,579,275
9,018,003
5,575,012
2,613,550
2,738,893
2,660,364
3,124,918
*
Not incl. in
Not incl. in
757,551,296 807,747,883
%
$
%
+4.3
+ 0.6
+4.2
+ 0.2
—7.2
1,639,389,716 1,571,845,655
1,260,740,121 1,253,437,571
840,562,934
806,833,875
360,236,808
359.550,456
—25.7
118,089,008
154,029,361 —23.3
—12.8
—7.4
139,026,474
150,151,241
—8.1
+ 8.9
94,258,980
86,528,974
—9.6
107,731,029
+8.7
99,100,930
+ 6.7
+ 5.7
124,211,320
117,482,014
—0.7
103,881,754
91,351,191
+ 13.7
+ 8.3
59,199,246
+ 5.9
55,899,301
—3.2
—0.7
48,336,657
48,692,369
+ 7.9
53,916,678
47,493,530 + 13.5
+ 12.3
73,707,106
58,738,922
+ 25.5
—17.0
—5.2
60,322,853
57,194,907
—21.7
35,036,380
+ 6.7
32,833,419
—0.8
17,156,850
+ 1.0
16,994,561
—12.7
15,864,917
18,467,857 —14.1
+ 6.9
18,951,262
17,193,649
+ 10.2
+ 54.5
26,845,141 :■?' 22,782,897
+ 17.8
total,
17,610,430 Not incl. in to tal.
total.
8,813,325 'Not Incl. in to tal.
—11.6
+ 4.3
—4.5
-*-6.2
5,194,337,288 5,069,730,626
+2.5
San
Diego
Pasadena
Stockton.
Fresno
Yakima.
10,641,280
9,670,740
+ 13.1
5,715,000
3,781,515
2,600,438
3,326,092
1,377,250
—5.7
1912, the decrease
in the aggregate having been
6.4%.
Clearings atInc.
Dec.
9
%
Canada—
Montreal-
*
Toronto-
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
St.
John
.
Hamilton
Calgary
London-...
Victoria
-----
Edmonton
Regina
Brandon
Saskatoon
—
...
...
V.
Moose Jaw
50,197,842
41,554,628
23,736,777
9,836,892
3,701,359
2,841,936
1,620,529
1,499,953
2,950,000
4,076,447
1,520,985
3,093,559
3,129,741
1,659,414
526,303
1,473,985
920,266
55,570,606
40,503,012
24,207,246
11,934,217
5,085,772
2,827,347
1,675,438
1,628,501
3,328,450
4,540,818
1,414,622
3,590,080
3,445,159
1,793,039
636,899
1,922,455
1,047,556
592,322
596,849
653,908
Lethbrldge
500,000
Brantford
625,000
887,990
468,697 Not incl. in
540,904 Not incl. in
Fort
William
New
Westminster
Medicine Hat
or
1912.
Total Canada—156,353,606
166,994,296
1911.
$
—9.7
—7.5
41,024,229
45,410,101
20,508,834
10,476,137
3,501,778
2,512,552
1,899,874
"1,467,353
2,489,394
4,046,497
1,432,357
2,708,612
1,974,167
1,404,788
—17.3
679,684
—23.4
1,059,017
—12.1
782,724
+2.6
—1.9
—17.6
—27.2
+ 0.5
—3.3
—7.9
—11.4
—10.2
+7.5
.
—13.8
—9.2
—15.6
+4.7
1910.
43,572,639
100,382,023
49,787,252
16,412,684
15,047,067
9,227,734
+ 7.5
45,093,357
15,512,245
18,729.143
9.224.968
8,378,619
6,510,867
3,595,4 10
3,279,018
2,561,191
2,228,415
1,728,783
1,536,470
1.154.969
1,693,681
49,495,4 ii
17,968,6 4
15,673,3
10,953,131
Joseph
Duluth.
Sioux City!
Lincoln
—
Cedar
Rapids.__
Davenport—'.
Waterloo
2,356,198
2,330,833
1,520,181
1,600,216
3,516,526
1,304,545
1,742,408
,
400,000
HastingsBillings, i.
200,000
375,296
987,038
452,217
Clearings—Returns by Telegraph.
Week ending Aug. 9.
%
494,385
474,597
New
Yakima
Reno
____
Total Pacific
1,452,708
1,299,897
York....
Boston
536,402,144 539,989,133
City.. 231,155
Minneapolis
97,435
Omaha..
73,285
St. Paul
43,665
__
Denver
,031 205,994,739
,219 81,872,990
,089
,710
35,202 ,061
St. Joseph
Des Moines...
30,310 ,050
21,025 ,244
Wichita
16,337 ,455
Duluth.
Sioux City
19,528 174
14,236 418
9,050 ,548
7,722, ,622
6,492 ,786
7,303 011
7,196 323
Lincoln
Topeka
Cedar
Rapids.
DavenportWaterloo
Helena
Sioux
Falls...
Fargo
Colo.
4,387, 056
3,200 000
1,979!
Springs.
Pueblo
Fremont
.—i.
Aberdeen.
Hastings
Billings
+
Joplin.
Grand Forks..
Total oth.West
992
3,112 817
2,664, 140
1,687, 089
1,600, 000
846, 653
1,630, 985
3,314 639
1.677, 000
71,891,863
45,632,541
41,600,000
28,531,675
19,007,665
15,739,711
12,960,540
+ 8.0
+ 3.6
—5.6
—2.1
+ 3.8
—7.8
+ 19.2
+ 12.7
+ 8.6
—7.4
+ 6.0
—1.0
+ 0.3
—5.5
—2.9
+5.1
1,519,941
3,243,928
1.441.600
646.046.212593.573,730
—0.7
+ 12
+ 19
+ 1
—4
—15
+6
+ 10
+3
+ 50
12,227,581 + 16
7,905,206 + 14
6,506,232 + 18
5.501,298 + 18
6,943,628
+5
6,386,475 + 12
5,177,234 —15
2,622,200 +22
1,629,240 + 21
2,948,389
+5
—5
2.826.599
1,292,590 + 30
1,369,253 + 16
800,612
+ 7.4
+4.2
+ 0.7
+43.8
+ 18.6
+ 23.2
+ 17.6
+ 17.9
+ 18.8
+ 27.3
—9.1
+ 11.4
+ 17.4
6.5
+ 50.1
+ 7.9
+5.3
-
,
185,530
145,000
+ 1.3
+ 7.4
:
991,478
930,981
835,312
701,481
657,041
453,640
321,855
126,349,254
8,062,751
6,116,439
3,728,759
3,687,212
3,043,694
2,365,270
1,517,099
1,311,597
1,052,393
1,619,767
1,004,149
857,801
764,457
743,560
551,62 ,
397,74
457,55
195,00
200,2.-
131,767.638
11,252,757,419
106,336,462
121,276,092
29,283,417
248,352,867
—10.3
$1,830,810,300
494,988,924
$1,879,559,864
—2.6
490,107,618
+ 1.0
$2,325,799,224
477,908,216
$2,369,667,482
479,806,505
—1.8
—0.4
$2,803,707,440
$2,849,473,987
—1.6
Chicago
Louis.———____ii^_
New
Cent.
$1,308,404,429
121,122,293
112,050,191
28,389,562
238,896,463
157,285,759
i
13,411,167
Baltimore
St.,-
1912.
•
...
60,778,727
12,025,316
Orleans-
Seven cities, 5 days
Other cities, 5 days
cities, 5 days
cities, 1 day
Total all cities for
weekr
—
MONTHLY CLEARINGS.
-^6.4
—4.2
—12.2
+ 8.2
+ 3.1
+4.0
+4.9
,
144,347,080 117,950,591
!
"
Clearings, Total AU.
,
Clearings Outside New York.
Month.
Jan
_.
Feb
__
1913.
1912.
$
$
1913.
%
<
1912.
$
16,216,112,572 15,095,690,133
13,592,103,303 12,893,884,278
14,106,494,182 14,449,044,153
+ 7.4
+ 5.4
—2.4
,
% >
9
6,877,371,366
5,797,459,068
6,220,308,282
6,260,108,594
5,581,235,914
6,032,089,931
+9,8
+ 3.8
+3.0
1912.
43,914,710,127 42,438,618,564
Dec.
April
14,271,837,391 14,967,196,152
May— 14,095,951,716 14,814,311,397
J'ne
13,693,384,418 13,628,381,617
+5
+7
+2
+ 16
+ 3.2
1,596,951,005 1,489,759,505
+ 7.2
680,403,908
569,632,780 + 19.4
513,352,264
487,988,847
+ 5.2
292,601,543
318,207,295
—8.0
271,123,514
275,226,589
—1.5
237,189,355
230,220,757
+ 3.0
157,339,078
135,810,595 + 15.8
103,218,988
100,434,986
+ 2.8
111,825,538
85,969,146 + 30.1
100,103,054
90,775,382 + 10.3
56,863,299
51,821,192
+9.7
50,504,022
46,505,848
+ 8.6
50,221,409
42,602,523 + 17.9
54,955,885
48,269,648 + 13.9
49,309,657
40,423,134 +22.0
30,544,613
26,941,316 + 13.4
21,813,911
16,171,465 + 34.9
13,913,301
18,610,153 —25.2
19,196,335
19,831,008
—3.2
19,540,823
19,442,969
+ 0.5
10,300,202
9,987,966
+ 3.1
12,665,765
9,302;394< + 36.2
6,174,835
5,623,679
+9.8
11,221,392
8,879,601 + 26.4
22,922,834
21,109,376
+ 8.6
10,405,700
10,200,900
+ 2.0
+8.84,504,662,230 4,179,729,054
—4.7
.
—4.9
+ 0.5
„
%
,515,036,242 1,508,436,548
+0.4
730,358,731
663,121,691 + 10.1
371,021,552
334,767,275 + 10.8
356,628,004
337,704,748
+ 5.6
180,256,728
223,439,424 —19.3
123,586,372
126,931,803
—2.6
80,960,264 .76,766,382
+5.5
112,239,697
112,181,670
+0.1
59,051,244
47,724,169 +23.7
85,121,709
74,122,496 + 14.8
30,531,568
,26,790,044 + 13.9
26,016,644
24,305,859
+ 7.0
30,681,558
25,965,061 + 18.2
19,227,385
18,537,014
+ 3.7
22,502,106
23,098,513
—2.6
18,499,448
18,833,512
—1.8
11,408,700
11,949,605
—4.5
8,117,576
8,091.,463
+ 0.3
3,781,245,528 3,662,767,277
+ 3.5 18,895,138,716 17,873,434,439
+5.7
or
2d
+ 7.8
6,216,506,416
6,133,432,994
5,939,873,967
6,137,040,634!
6,034,533,909
+1.2
+1.0
5,667,290,156; +4.8
qr_
42,061.173,525 43,409,889,166
+ 3.1 18,289,813,377
17,838,864,699)
+2.5
6 rnos.
85,975,883,652 85,858,507,730
+ 0.1 37,184,952,093
35,712,299,138;
+4.1
6,024,708,041
+2.8
Jnlv-. 13.535,682,574 13,94.5,790,270
The
—2.9
6,190,762,550
of bank
course
clearings at leading cities, of the coun¬
try for the month of July and since Jan. 1 in each of the last
four, years is shown in the subjoined statement:
BANK
CLEARINGS
July
-(000,000s
1913.
omitted).
1912;
$
New York.
Chicago
Boston
Kansas
—20.1
Per
Philadelphia
All
$
—0.6
North
+ 11.0
+ 6.1
1913.^
Total all
Inc.
—4.0
____
12 8,27 3,420
+ 8.3
total.
1913.
SanTFrancisco. 219,174,353 228,295,720
..
137,89 1,278
357,604
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.
1,400,050
or
Dec.
Los Angeles
__
.
'440,594
Aberdeen.—..
1st qr_
"
<
8,122,740
6,573,313
4,204,628
3,677,384
2,457,950
2,361,420
1,714,565
1,340,312
1,154,489
1,560,301
1,117,248
961,739
307,669
650,000
440,744
293,505
370,679
189,997
370,572
'
Seven Months.
Inc.
_____
342,572
762,946
412,032
V
Fremont-
+ 35.8
Clearings at-
98,313,236
50,392,837
47,945,240
27,483,391
18,159,181
10,964,589
17,000,251
7,574,437
10,826,975
3,713,775
4,058,534
3,633,220
2,943,803
3,280,980
2,671,590
1,495,251
1,236,123
•
873,123
Pueblo-—__
Mch„
97,738,836
54,672,407
Portland
49,674,246
Salt Lake City
25,950,029
Spokane._
17,779,539
Tacoma
11,381,126
Oakland
15,679,578
Sacramento.
9,028,830
San Diego
,12,196,441
Pasadena
4,031,004
Stockton
3,759,650
Fresno
3,852,935
San Jose.,
2,915,530
Boise
3,290,084
Ogden
2,524,951
641,599
53,523,533
17,776,664
16,696,658
9,790,461
6,493,318
7,062,094
4,380,243
3,703,101
3,534,155
2,800,000
2,111,237
1,576,344
1,360,786
1,853,923
1,422,198
Wichita
total,
July.
Seattle
652,513
226,041
Denver
18,452,114
8,135,641
2,892,042
Pacific and Other Western
Clearings brought forward
from first page.'
1912.
—29.1
—18.5
27,687,943
p
1913.
—2.0
+27.9
+ 20.5
+ 6.2
101,370,296
Des Moines
Tot.OthWest.
Week ending Aug. 2.
—14.0
—5.5
Paul
Colorado Springs
—2.9
—9.8
45,079,500
14,137,530
10,100,000
9,441,813
5,241,720
4,227,225
3,610,080
3,016,086
1,206,326
1,150,000
111,983,089
Fargo
The clearings for the week ending
Aug. 2 make an unfa¬
vorable comparison with the same week of
1,948,198
670,029
811,521
43,364,366
18,591,895
8,778,228
8,550,000
5,728,297
4,009,526
2,453,295
3,594,995
1,577,600
1,500,000
750,000
724,822
593,667
570,000
—3.2
105,806,480
Omaha
Topeka
—11.9
572,531
689,518
370-,000
245,000
City
Minneapolis
St.
$
49,927,419
19,550,384
+2.0
Kansas
St.
:.9io.
250,000
_
_
1911.
%
+ 0.4
—11.7
Reno
Total Pacific.
8
804,904
604,815
303,504
San Jose
North
or
Dec.
43,977,969
18,930,110
12,031,585
9,389,654
5,387,087
3,411,560
2,235,499
3,261,473
1,761,534
2,347,044
711,336
575,440
656,041
607,170
267,978
255,000
Helena
1913.
1912.
months
seven
XCYII
Week ending August 2.
Canadian Bank Clearings.—The
clearings of the Cana¬
dian banks for the month of July 1913 show a decrease from
the
1V0L.
AT
1911.
$
$
7,345
1,343
7,921
681
LEADING
CITIES.
—Jan.
—
1910.
,1913.
$
1,271
7,516
1,165
7,879
1,142
760
.689
697
56,136
9,334
4,870
5,004
2,401
1,764
1,515
1
to
1912.
$
$
58,057
8,811
5,262
4,672
2,305
1,598
July
31-
1911.
$
.
54,108
8,058
4,876
4,558
2,216
1,488
1,352
1910
$
60,838
8,272
4,949
4,584
2,156
1,528
1,318
709
689
688
658
St. Louis
329
323
306
298
Pittsburgh
252
247
209
222
San Francisco
219
228
197
Cincinnati
113
116
103
104
779
810
750
Baltimore
163
737
161
152
140
231
206
202
192
127
1,180
1,597
1,097
1,490
1,016
1,474
1,487
98
Philadelphia—
*
Kansas City.—_
Cleveland
—
■
195
1,508
914
110
91
New Orleans
72
78
83
68
546
596
576
97
561
Minneapolis—
82
72
80
680
570
■\ 543
Louisville
62
607
424
438
409
404
Detroit
58
56
50
99
81
79
751
648
755
581
585
631
547
Milwaukee
68
59
55
53
450
418
400
Los
98
376
98
79
64
730
663
35
538
37
471
32
35
246
256
238
237
488
436
491
Angeles
Providence
Omaha
73
72
539
59
62
Buffalo
58
51
44
45
358
324
St. Paul..
44
296
294
46
44
50
293
318
302
Indianapolis
39
40
329
41
43
255
258
Denver
35
257
42
272
35
39
271
275
Richmond
254
33
38
32
30
239
255
28
228
Memphis.
227
30
22
19
223
227
193
177
335
309
350
——
Seattle
55
513
50
45
48
*23
22
20
20
150
147
26
134
27
134
28
24
180
263
181
190
12,476 12,961 12,146
1,060
923
985
12,434
92,015
7,496
92,680
7,114
83,318
6,748
93,288
13,536
13,313
99,512
43,376
99,794
41,737
93,066
38,958
99,741
38,903
•
371
•
Hartford...——
Salt Lake City
Total
Other cities
Total
all.
_
—
—
281
Outride New York. 6,191
13,946
6,025
13,069
5,553
879
5,434
•-
6,453
4
Aug. 9
343
CHRONICLE
THE
1913.]
detailed statement of transactions on
The results
months of 1913 and 1912 are given below:
Our usual monthly
of
Name
Company.
Per
When
Cera.
Payable.
Closed.
Books
Days. Inclusive.
the New York Stock Exchange is appended.
for the
seven
Om„ com. & pref.
(guar.)..
(guar.).
& Tex. Pacific, pref.
Cin. N.O.
Cleveland & Pittsburgh, reg. guar.
Seven Months 1912.
Seven Mornhs 1913.
(Steam) Concluded.
Railroads
Chic. St. Paul Minn. &
Quantity.
Par Value,
Actual
Aver.
Value.
Price.
Quantity.
or
properties
Sept.
Holders of rec. Aug.
1
Sept.
Sept.
Holders of
1
2
Aug.
Holders of
rec.
Aug.
234
334
Sept.
Holders of
rec.
Aug. 11a
Aug.
July
to
234
Sept.
Holders of rec.
Aug. 10
Aug.
la
134
134
Sept.
Sept.
Holders of rec. Aug. 30
1
Aug.
Holders of rec. July
97.8
the New
in 1913
on
New York Stock Exchange each month since Jan. 1
and 1912 is indicated in the following:
•
N. Y. N. H. A
Hartford (quar.)
(quar.)
Norfolk A Western, common
(quar.)
Preferred
pref. (quar.)
1912.
1913.
A Pow., Ltd. (quar.)
Lt., pf.{gu.){No.2)
Brazilian Trac., Lt.
Central Arkansas Ry. &
.
of
Mch.
958,417,286
970,876,425
800,879,464 10,906,138
602,463,418
621,704,400
600,464,308 7,086,544
620,004,816 14,552,052 1,334,837,225 1,312,748,978
809,787,850
617,315,100
639,404,500
8,748,973
6,763,632
7.229,732
.
—
pf. (qu.) (No. 13).
Illinois Traction, common (guar.)
Rochester Ry. & Light, pref. (guar.)
Pacific Gas A Elec., pref. (qu.) (No. 30).
Philadelphia Co., non-cum. pref
—
Portland (Ore.) Ry., L. & P., pf. (gu.)..
Tampa Electric Co. (quar.) (No. 35)
Tennessee Ry., Lt. & P., pf. (qu.) (No. 5)
Federal Light & Tract.,
$
$
$
%
Actual.
Par.
Shares.
Actual.
Par.
Shares.
Feb-
of
.
(qu.)
Connecticut Ry. A Ltg., com. A pf.
Detroit United Ry. (quar.)
Values.
Number
Values.
Number
Jan
;
,
Iftqr 22,742,337 2,066,507,450 2,021,348,588 32,644,734 2,927,418,050 2,873,629,677
19
5a
Holders of rec. Sept.
8
9a
31
Aug. 17
to
434
Aug.
Holders of
3
Sept.
Holders of rec. Aug.
Aug.
Aug.
rec.
9a
20
Aug.
Holders of rec. Aug.
6a
Holders of rec. July 29a
1
Sept.
Holders of rec. Aug.
2
Aug.
July
134
Aug.
Holders of rec. July
2
Aug.
Aug.
$3
75c.
Pennsylvania (quar.)
Reading Company, common (quar.)
First preferred (quar.)
Utica Clinton A Binghamton
Street and Electric Railways.
Binghamton Ry
Boston Elevated Ry
Mlh
{qu.)
.
Aug. 16a
rec.
Holders of rec. Aug. 16a
Aug.
334
Oswego A Syracuse, guaranteed
Philadelphia Oermantovm & Norris
American Railways,
EXCHANGE.
SALES OF STOCKS AT THE NEW YORK STOCK
9d
1
(gu.) {No. 16)
Preferred {guar.) {No. 31)
Fonda Johnst. & Glovers v., com. (annual)
Illinois Central (No. 117)
——
Louisville A Nashville
N. Y. Chic. A St. Louis, 1st A 2d pref-—
$7,372,128,025 $7,207,304,766
The volume of transactions in share
la
Aug. 23a
Aug.
9a
Cripple Creek Central, com.
North Carolina..
96.7
$4,956,540,700 54,792,916,704
rec.
rec.
Price.
76,544,864
51,381,313
97.8
IVal- $4,637,705,100 $4,485,778,083 96.7 $6,914,121,125 $6,765,345,090
425,037,580 96.3
RR. bonds
441,207,000
288,056,123 96.5
298,572,100
1,060,757 102.8
Gov't bds.
1,032,000
1,225,100
1,243,167 101.5
15,009,202 97.3
Btate bonds
15,419,500
17,652,112 93.2
18,944,200
852,128 244.6
Bank stks.
348,400
187,219 198.7
94,200
—
Holders of
Holders of
Aver.
BtockfSh'a.
Total.
Sept.
Sept.
Value.
Special guaranteed {guar.)
Par Value,
or
Aug.
154
Actual.
Descrip¬
tion.
Holders of rec. Aug.
834
134
2
31
2
26a
9
Aug
to
31a
Aug. 15
to
Aug.
Holders of
134
Aug.
Holders of rec. July
IK
Sept.
Aug. 16
1
Aug.
Aug.
134
Sept.
Holders of rec,
134
Aug.
Aug. 16
to
34
Aug.
July
27
to
134
134
234
Sept.
Holders of rec
Sept.
Holders of rec,
134
234
Sept.
Holders of rec
Aug.
Holders of rec
134
Sept.
Holders of rec
234
Aug. 26
to
Aug. 31
Sept.
9a
Aug. 12 Holders of rec. Aug.
Aug.
31
Sept. 2
Aug. 15
to
to
1
Holders of rec,
*
2
Aug.
rec,
Aug. 16a
,
Sept.
1
Aug. 12
,
,
,
Aug. 25a
July 31a
Aug.
9a
.
Aug. 12
.
Aug.
.
Aug. 12
6a
Banks.
872,946,225
716,498,976 15,959,338 1,452,962,700 1,438,401,408
470,216,409 13,662,747 1,233,734,950 1,210,479,868
622,417,928
645,234,075
833,496,241 7,219,721
2d qr 23,514,961 2.098,054,325
2,020.211,626 36,841,806 3,331,931,725 3,271,299,204
738,652,100
486,456,000
8,463,226
5,463,561
9,588,174
April
May
June.
Chemical National
Mechanics
(bi-monthly)
(guar.)
—
3
& Metals National
Miscellaneous.
Adams Express (guar.)—.
$3
—-
Amalgamated Copper Co. (quar.)
—
(quar.)
American Oraphophone, pref. (qu.) (No.61)
Amer. Power <fe Light, common (quar.) —
American Radiator, common (quar.)
American Bank Note, com.
^ m's 46,257,298
4,164,561.775 4,041,560,214 69,386,540 6,259,349,775 6,144,928,881
473.143,325
5,124,015
July.
444,217,869
620,416,209
654,771,350
7,158,324
Preferred
(quar.)
Amer. Smelt. & Refg., com.
^Xjouctauui©oiinwcuciaIEtifllisTx|Jms
(gu.) (No. 40)
Preferred (guar.) (No. 57)
American Steel Foundries
American Tobacco, common
closing quotations for securities, &c., at London,
reported by cable, haVe been as follows the past week:
London,
Week ending Aug.
Mon.
Sat.
Silver, p^roz
d Consols, 2H per cents
„d. 27K
27X
27X
27 3-16
73^
73^
73%
78%
73%
7311-16 73 15-16 73 13-16
87.80
87.47K 87.47^
27 5-16
'
•
——
86.65
87.40
Amalgamated Copper Co—
Am. Smelt. & Refining Co—
|
J
66^
b Anaconda Mining Co..:..
•
!
7%
99 %
d French Rentes (In Paris) fr.
Atch. Topeka & Santa
Fe—
Preferred
-
Baltimore & Ohio
Preferred
Canadian
—
Pacific
.
•
i
J
J
]
'
!
>
!
Chicago Great Western
«
Chicago Milw. & St. Paul...
\
|
Denver & Rio Grande.;...
<
0
57
U
10934
M
m
m
co
^
Q.
<5
R
pq
w
Illinois Central
•
Louisville & Nashville
Missouri Kansas & Texas—
ft
2
Preferred.
Missouri Pacific
3
...
o
H
W
O
X
a
First preferred—
a
Second preferred
«
1
Southern Pacific
Southern
,
Railway
O
J
H
05
...
!
Preferred
|
....
]
!
•
«
'J
!
;
»
«
5
U. S. Steel Corporation
Preferred......
....
Wabash
■'
Preferred.
Extended
a
Price
per
share.
•'
L
4s.......
12934
10934
138
13834
& £ sterling,
flat prices.
18
9534
1834
0534
3334
38
1234
102
3134
10834
86
11434
5834
8234
45
4534
1834
96
24J4
2534
2534
2634
81
81
81
8134
'15634
86
63
11234
334
15634
8734.
63J4
86
11234
5834 '
82
45
46
17J4
9534
.
'
c
—A
114
c5834
8234
45
,——
.
15634
86
6334
11234
- 3
154
86
6234
11134
3
834
854
I
1234
10134
3054
10834
86
114
54
5334
5834
82
,45
■
4534
-
,•
Int. Harvester Co. of N. J., pf. (qu.)
Int. Harvester Corp.,
or
Dividends announced this week
Name of Company.
are
When
Books Closed.
Payable,
Days Inclusive.
Aug.
Sept.
Holders of
rec.
July
134
Holders of
rec.
July
Baltimore & Ohio, common.....
Preferred
3
Sept.
Holders of
rec
Aug.
19a
31a
la
2
Sept.
Holders of
rec,
Aug.
la
Boston & Albany (quar.)__
2
Sept.
Holders of rec
Aug. 30a
Aug.
preferred.....
(qu.)
—
3
Buffalo Roch. & Pittsburgh, com. & pref.
3
Aug.
Holders of
Chestnut Hill
134
234
334
134
Sept.
Sept.
Holders of fee,
Holders of rec.
Sept.
Holders of
Oct.
Holders of rec.
2
Oct.
(guar.)
Chicago Milwaukee & St. Paul, common.
Preferred...
1
Chicago & North Western, com.
PreferredJ(quar.)
{guar.)..
...
Of
rec
rec,
ror»
8a
Aug. 20
12a
Aug. 12a
Sept.
2a
Holders of rec.
Sept.
Holders of rec.
4
Aug.
Holders of rec.
4
Aug.
Aug.
6
to
134
Sept.
Sept.
6
to
Sept. 15
Sept.
Holders of rec. Aug. 23
34
Sept.
Holders of rec. Aug.
-134
134
Aug.
Holders of rec. July
Aug.
Aug.
Oct.
Holders of rec.
134
Aug.
Holders of rec.
18a
31a
10
Sept. 30
July 31
Aug. 30
Aug. 15
Aug. 14a
Sept. 15
Aug. 30a
Sept. 1
July 31a
Aug. 15
134
134
Sept.
Aug. 16
Sept.
Sept.
Holders of rec. Aug.
134
234
Oct.
Holders of rec. Sept. 19a-
Aug,
Holders of rec. Aug. 11a
134
1
to
Holders of rec.
1
Aug.
1
Sept.
Holders of rec.
Sept.
34
134« Sept.
$1.50 Sept.
Holders of rec.
134
Sept.
Holders of rec.
134
Sept.
Holders of rec.
5
Sept.
Holders of rec.
Aug. 21
to
Holders of rec.
Aug.
to
134
Sept.
Holders of rec. Aug.
3
Sept.
Sept.
Holders of rec. Aug.
134
134
134
134
Sept
Holders of rec. Aug.
Holders of rec
Holders of rec. July
Holders of rec. July
Holders of rec. Aug.
to
134
Sept.
Holders of rec. Aug.
Lehigh Coal A Nav. (quar.) (No. 139)...
2
Aug.
Holders of rec. July
Liggett A Myers Tobacco, com. (quar.).
3
Sept,
Holders of rec. Aug.
May Department Stores, common (guar.)
134
134
Sept.
Holders of
Aug.
Holders of rec. Aug.
50c.
Aug.
Holders of rec. Aug.
Steel, preferred (quar.)
West
Utilities, preferred (guar.)
Co., preferred (guar.)...
(quar.)
87).
—
Niles-Bement-Pond, preferred (guar.)
North American Co. (quar.).
Penmans, Ltd., common (quar.) ———i.
People's Gas Light A Coke (quar.)
Pittsburgh Steel, pref. (quar.)...
Pratt & Whitney, preferred (guar.)..
Pressed Steel Car, pref. (quar.) (No. 5S).
Procter A Gamble, common (quar.)
Common (extra) (payable In com. stk.)
Pullman Company (quar.) (No. 186) — Pure Oil (quar.)...(guar.)
Sept.
Holders of rec. Aug.
Aug.
Holders of rec. July
Aug.
Holders of rec. July
15
31
31a
134
Aug.
Holders of rec. Aug.
16a
134
34
134
Aug.
Aug.
6
to
Aug. 15
Sept.
Sept. 13
to
Sept. 16
Sept.
Aug. 23
to
Aug. 28d
134
Aug.
Aug.
i*
Aug.
Aug. 15
8
to
Holders o|T rec. Sept. 15a
Holders of rec. Aug.
6a
134
Aug.
Holders of rec. Aug.
134
Sept.
Holders of rec. Aug.
134
Aug.
Aug.
Oct.
Aug.
8
1
2a
14a
to
Aug. 15
to-
Aug. 19
154
Aug.
Aug.
Holders of rec. July
Aug.
Holders of rec.
2
Aug.
Holders of rec. July
3
Sept.
2
Sept.
Aug. 16
Aug. 16
234
Oct.
Holders of rec. Oct.
la
134
No.v.
Holders of rec. Nov.
la
134
Aug.
Holders of rec. Aug.
(quar.).
134
134
Aug.
Holders of
Aug.
Holders of rec. Aug.
(quar.)
134
Aug.
Holders of
8
Aug.
Holders of rec.
234
Quaker Oats, preferred (quar.)
Standard OH (Indiana)
134
134
234
4
—
-
Sears, Roebuck A Co., common
Silversmltha Company (quar.)
Aug.
8a
31
21a
30
31a
15a
159a
la
4/
'
Quaker Oats, common
Preferred (guar.)
rec.
16
20
11
9a
9a
31
July 25
Sept. 2
Aug. 22
Holders of rec. Aug.
Aug.
Sept.
$4
1
21a
Aug.
Sept.
Aug.
(quar.)
(quar.).--
(quar.)..
to
to
rec.
rec.
July
Sept.
Sept.
July
25a
25a
31a
1
1
la
__
31a
8a
July 31
Aug. 15
Sept.
Holders of rec. Aug.
3
Aug.
Aug.
12
to
4
Aug.
Aug. 12
to
-
Sept.
Sept.
20
1
134
134
Sept.
Holders of rec
134
Aug.
Aug.
134
Aug.
Holders of rec
Am.,com.(qu.)(No.3)
134
234
334
Aug.
Aug.
2
to
Aug. 15
Sept.
Aug. 17
to
Sept.
Sept.
Aug. 17
to
Sept.
U. S. Printing ofN. J., pref.
134
Aug.
Aug.
to
Aug. 15
U. S. Steel Corp., common
134
6
3
5
to
Sept. 10
Aug. 17
(quar.).....
(quar.)
1
to
Aug. 20a
Aug. 15
Aug. 22a
2
2
Sept.
Sept.
134
Aug.
Aug.
134
(e)
Aug.
Sept.
Holders of rec, July
Holders of rec, Aug.
White (J. G.) Management
(e)
Sept.
Holders of rec.
Aug. 20
Willys-Overland, common (extra)
Woolworth (F. W.) Co., com. (quar.).—
5
Aug.
Holders of rec
July
134
Sept.
Holders of rec
Aug.
Preferred
(quar.).—....
U. S. Telephone, pref. (quar.)
White
.
1
134
preferred (guar.).
Union American Cigar, pref. (quar.)
United Cigar Mfrs., pref. (guar.)
U. S. Envelope, common
Atch. Topeka & Santa Fe, common
Alabama Great Southern,
Holders of rec.
Aug.
»■
3
Un. Cigar Stores of
(Steam).
Sept.
7
Sept. 13 j
Aug. 15a
July 31a
Aug. 16
Aug.
8
Aug. 15
2
Preferred
Railroads
Aug. 24
Kings Co. El. L. A P. (quar.) (No. 54)
Sludcbaker Corporation,
Per
to
Holders of rec.
Kentucky Public Service, preferred
Standard Sanitary Mfg., com.
Preferred (quar.)
Cent.
Aug. 16
Sept.
Holders of rec. Aug.
Southern California Edison, com.
Southern Pipe Line (quar.)
printed in italics.
Sept.
34
Holders of rec.
pref.
National Lead, common
Preferred (quar.) (No.
important corporations:
134
Aug. 15
Standard Oil, California
by large
Sept.
to
Aug.
Extra
future
Sept. 30
Aug. 15
to
Sept. 23
234
Smelting & Refining (guar.)
National Carbon, preferred (quar.)
following shows all the dividends announced for the
to
Aug. 30
Holders of rec.
Montreal Lt., Ht. A Pow. (qu.) (No. 49)
National Biscuit, pref. (gu.) (No. 61) —
audf^tiscctlanjcims 2Xetas
7
Sept.
Aug.
—
Mobile Electric
'
Aug.
1
Sept.
Middle
334
154
Aug.
(quar.)
Petroleum, common (quar.)
Miami Copper Co. (quar.) (No. 6)
DIVIDENDS.
The
—
Mexican
55
Holders of rec.
Aug.
234
Lackawanna
•
Holders of rec.
2
International Nickel, common
Extra
©ommcucial
(No .2 6)
pf. (qu.) (No. 2)
Illuminating A Pow. Secur., pref. (qu.)-Indlana Pipe Line (quar.)
Jefferson A Clearfield Coal A Iron,
here given are
'
pref.. '.
Inland Steel (quar.)
Internal.
934
9
d Quotations
Ex-dividend.
Harwood Electric Co.,
11234
,5434
P.,Ltd.(gu.)
Oranby Consol. Mining, Sm. &
59
38
■—
(quar.)
Eastern Steel, first pref. (quar.)..—
Eastman Kodak, common (extra)
Federal Utilities, pref. (guar.) (No. 9)__.
General Asphalt, pref. (quar.) (No. 25) —
General Chemical, common (quar.)
Preferred (quar.)
L—...
Gorham Manufacturing, com. (quar.)—.
2A%
3334
Pipe Line.....
to
Sept.
(guar.).
pref. (qu.) (No.14)
Canadian Car & Fdy., piref. (guar.)
Canadian Converters, Ltd. (quar.)
Cleveland & Sandusky Brewing, pref. (qu.)
Columbus Oas & Fuel, common (guar.)...
Consolidated Gas (quar.)
Holders of rec. Aug.
Sept.
$5
Diamond Match
13834
33^
—
Holders of rec. July
Aug.
134
Cambria Steel (quar.)
Canada Cement, Ltd.,
Crescent
30
4934
3934
132%
111
"
38
34
38
1234 "
1234
10134
102
3034
" 3034
10834
10834
!
...
Pacific......
35
3034
8
.
" J
Preferred
Union
35
4934
40
13134
110
13834
w
m.'"
J
—
Island....
21
3034
a
00
Rock
21
50
•<
— —
5734
14
111
2434
£
Pacific
5734
14
110
5934
0
Reading Company
82%
220%
2434
R
Pennsylvania
101
100
8234
220%
59
m
Northern
101^
99%
2334
W
■a
7%
100 %
W
Norfolk & Western
•a
73%
67K
7%
100
p
N.Y. Ontario & Western...
Preferred
73
67
4834
3834
13134
11034
O
q
u
N.Y. Central & Hud. Rlv_.
3434
48
3834
p
-
.
14
110
' 2034
30
.
O
5
Nat. RR.of Mex., lstpref..
Second preferred..
.
•
221 %
57
32
q
-
—
82
2034
Second
preferred..
^
preferred
^
Great Northern, preferred..
•
'
First
Erie
73%
67.«
7%
100 H
101^
99
101
99 %
^
O
J
Preferred
87.95
73%
81
222%
:
Chesapeake & Ohio
Fri.
Thurs.
Wed.
Tues.
d For account..;
(quar.).__
Butterick Company
-
8.
Preferred
1
26a
la
Aug.
1
Aug. 22a
Aug. 12
Aug.
Aug.
1
62
Buckeye Pipe Line (quar.)
Sept.
Sept.
2
5
(guar.)
(quar.) (No. 6)
A Elec., com. (qu.)
Bond A Mortgage Guarantee (quar.)
Borden's Condensed Milk, common
Blackstone Valley Gas
The daily
as
IK
(quar.)
Amer. Utilities, pre!,
English Financial Markets—Per Cable.
134
134
(J. G.) Engineer. Corp.,pf.(No.l)
Corp. (No. 1)
to
31a
20
19
9a
Aug,
flont,
a
e
Transfer books not closed for this
At rate of
mon
stock,
7% per annum
b Less
dividend,
income
for 5 months ending June 30 1913.
',
n
d Correction..
/Payahlei n com¬
tax.
344
THE
National
CHRONICLE
Banks.—The following information regarding
national banks is from the office
^of^the^Comptroller
DETAILED RETURNS
Trust Cos.
CHARTERS ISSUED TO NATIONAL BANKS.
July 30.
10.426—The
First National Bank of Omaha,
Tex., Capital $25,000
W. T. Russell, President; Ira P.
Forsyth, Cashier.
10.427—First National Bank of Riverbank, Cal., Capital $25,000,
R. W
Hobart, President; C. B. Pressley. Cashier.
$
Brooklyn
Bankers
U.S.Mtg.&Tr,
Astor
LIQUIDATION.
Sales.—Among other securities, the following,
sold at
usually dealt in at the Stock Exchange, were recently
auction in New York, Boston and
Philadelphia:
By Messrs. Adrian H. Muller & Sons, New York:
Shares.
Percent.
Title Guar.&T.
Guaranty
Fidelity
...
$1 each
1,210 Exch.
9,613 Am.
lot
Sight
Seeing
Car
&
49 Way-Wood
Corp.)
(N.
$8,000,000
$4,750
.
115
39,995 Porcupine Nor. Mines, Ltd.$9,000
39,995 Porcupine Sou.Mines,Ltd.$10,000
$ per sh.
.
10 Lawrence Mfg.
Co-_______150-150&
10 Pepperell Mfg. Co
293
Wheel
RR.
Co.
due
Aug.
claims
Feb. 1
By Messrs. Francis Henshaw
Shares.
Per cent.
July 1911 coupons
J.
10 Bank of Flatbush
Pitts¬
of
Bonds.
190
i..
Farms
Bk.
500 Internat. Power Co.,
$3,500,000 Wabash RR. Co.
1st ref. & ext. 4s, 1956,
Coach Co., $10 each
200 State Bank
Nat.
burgh, $50 each...$50 per sh.
com.$200 lot
$43
$10 each
•
Per cent.
__
100 Internat. Autom. MuslcCo.,
&
on
&
L.
E. $9,863,550
notes
3-year 5%
1 1908 and
for
Interest
all
from
1908....
'
3 Old
$ per sh
Boston National Bank
105M
Shares.
10 Rittenhouse Tr. Co., $50 ea. 56
1 Franklin F. Ins. Co., $25 ea.
43^
25 Frank. & So'wk Pass. Ry.362-362
4 JohnB .StetsonCo. ,com.385 J^-386
5 Amer. Pipe & Construe. Co.
55
38 Keystone Watch Case Co
15 Phlla. Bourse, pref. $25 ea__
90
50 Home Teleph.
$10
each
25 Pneumatic
,
12\i
Co., Trenton,
Pow.
&
$persh.
Pennsy. Acad, of Fine Arts.
Life
lot
Motor
$2 lot
10J^
100 Kimberly Consol. Mines
11 Globe
Steam
Heater
Co.,
14c.
$ per sh.
5 Amer. Pipe & Construction Co.. 55
1 Farmers'& Mechan. Nat. Bank.139
$25 each.
$1 lot
$1 each
$6 lot
250 Stout Mg. & Exp. Co., $1 ea.$l lot
5,000 United Dev. & Impt. Co
l$5 lot
10 Arnold Monophase Elec. Co.$3 lot
Per cent.
$3,000 Mt. Washington St. Ry. Co.
1st 5s, 1933
.94-95
$1,000 No. Spr. Wat. Co. 5s, '28 ...91
&
Co., Philadelphia:
Bonds.
Per cent.
$500 No. Spring .Wat. Co. 5s, 1928.
91
Statement of New York City
Clearing-House Banks
Trust Companies.—The detailed statement
below
and
shows the condition of the New York
members for the week ending
City Clearing-House
The figures for the
separate banks are the averages of the daily results.
In
the case of the totals, actual
figures at the end of the week
are also given.
•
For definitions and rules under which the
various items are
made up, see "Chronicle," V.
85, p. 836','in,the case of the
banks, and V. 92, p. 1607, in the case of the trust
companies.
DETAILED RETURNS OF BANKS.
We omit two ciphers (00) in all
cases.
Banks.
Capital.
Surplus.
$
New York....
Manhattan Co
Merchants'.
Mech.&Metals
America
....
City....
Chemical
....
Merchants'Ex.
Butch. &Drov.
Greenwich
Amer.
...
Exch..
Commerce
...
'•
$
"
6,562,0 72,348,0 412,386,0 15.2 + 14.9
6,720,0 68,462,0 417,631,0 15.8+14.0
4,280,1
4,756,8
2.178.3
8.873.7
6.438.1
30.516.1
7.410.4
Week
600,0
300,0
500,0
5,000,0
25,000,0
600,0
127,2
1.047.2
4.536.4
16.526.4
975.4
526.8
'
Pacific..
Chat.&Phenix
People's
Hanover
.....
.....
Citizens' Cent.
Nassau
Market &Fult.
Metropolitan
.
Corn Exchange
Imp.&Traders
Park
East
River...
Fourth
......
Second
250,0
5,000,0
1,000,0
First
10,000,0
Irving
Bowery
N. Y. County.
4,000,0
German-Amer.
750,0
Chase
Avenue.
German Ex...
Germanla
Lincoln
Garfield
Fifth
475.5
14,536,6
2.294.8
466,9
1,925,2
1,817,2
5,908„0
7.900.9
14,134,6
67,2
5.948.1
2.701.5
22.020.2
3,209,8
775.4
2,012,7
683.9
.
100,0
10.263.5
2.273.2
200,0
815.5
200,0
1,000,0
1,000,0
1.034.6
1,742,1
1,293,1
496,1
2.211.6
1,000,0
West Side
Seaboard
...
Liberty
N.Y.Prod.Ex.
State
Security
Coal & Iron..
Exch..
Nassau, Bklyn
Totals,
1.342.5
250,0
Metropolis
Union
250,0
600,0
5,000,0
Fifth
avge^.
Actual figures
.
2,250,0
200,0
3,000,0
2,550,0
1,000,0
1,000,0
2,000,0
3,000,0
1,500,0
5,000,0
200,0
842,1
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
2,439,1
2,745,5
133,650,0
^07,223,2
Aug. 2__
860.3
587,7
423.4
543,7
994,1
1.153.7
...
Circulation.—On the basis
Specie.
Legals.
Net Depos-
Re-
Average.
Average
its, Aver,
serve.
Capital.
Surplus.
Averages
$
30,250,0
20,296,0
56,467,0
24,186,0
188,737,0
28,911,0
6,539,0
2,001,0
8,904,0
43,350,0
133,784,0
4,750,0
18,930,0
2,038,0
70,720,0
22,454,0
10,731,0
8,985,0
13,602,0
52,427,0
26,510,0
85,976,0
1,383,0
30,108,0
13,751,0
111,191,0
35,267,0
3,212,0
8,406,0
3,989,0
93,078,0
12,664,0
3,589,0
5,062,0
14,158,0
9,119,0
3,966,0
11,998,0
3,879,0
22,793,0
24,059,0
8,883,0
18,441,0
12,052,0
6,422,0
9,149,0
7,212,0
$
$
4,020,0
2,177,0
611,0
1,492,0
786,0
253,0
7,243,0
2,124,0
1,762,0
121,0
2,240,0
154,0
1,402,0
3,265,0
65,0
660,0
229,0
5,478,0
1,019,0
275,0
254,0
884,0
277,0
537,0
990,0
273,0
1,885,0
657,0
403,0
5,643.0
403,0
2,375,0
1,145,0
1,918,0
1,278,0
1,263,0
8,581,0
3,849,0
21,000,0
292,0
5,744,0
2,950,0
25,205,0
5,866,0
765,0
1,319,0
854,0
27,632,0
2,854,0
557,0
1,180,0
3,341,0
1,946,0
461,0
1,914,0
886,0
5,651,0
6,058,0
538,0
350,1)
177,0
Legal
with C.H.
Net
Tenders.
Banks.
Deposits.
$
$
$
$
$
.
74,429,0
6,562,0
72,348,0
Total
179,900,0 302,892,9 1,918,290,0352,372,0
80,991,0
72,348,0 1,782,283,0
...
Actual.
Banks
1,354,348,0290,131,0 73,208,0
6,720,0
564,888,0, 59,309,0
Trust cos.
Total
1,369,897,0
412,386,0
1,362,061,0
417,631,0
68,462,0
1,919,236,0,349,440,0 79,928,0 68,462,0 1,779,692,0
The
State ^Banking
Department also
furnishes
weekly
of the State banks and trust
companies under its
returns
charge.
These returns
in the whole State,
cover
all the institutions of this class
but the figures
are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as
per the
following:
For definitions and rules under which the various items
are
made up, see
;
"Chronicle," V. 86,
State Banks,
as
Surplus
as of
316.
Trust Cos.
State Banks.
Trust Cos.
in
in
outside of
outside of
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
$
Capital
p.
STATE BANKS AND TRUST COMPANIES.
Week ended August 2.
of June 4...._
,
$
%
%
22,850,000
65,900,000
38,503,000
164,444,200
12,463,100
11,405,100
297,384,100 1,031,438,100
+ 1,273,400
—975,700
118,288,600
—394,800
175,905,900
June 4.....
Specie...
18,159,0
34,600,0
20,357,0
55,378,0
23,154,0
192,688,0
25,318,0
6,383,0
1,847,0
10,012,0
42,132,0
108,421,0
4,513,0
19,121,0
2,281,0
76,725,0
20,996,0
11,900,0
8,828,0
14,297,0
61,799,0
23,773,0
87,862,0
1,590,0
30,480,0
12,520,0
102,128,0
35,403,0
%
26.0
54,866,900
+ 159,900
112,539,800
20,993,400
—2,381,400
10,099,200
-i
28.2
10,150,000
9,478,000
Change from last week.
25.0
—740,600
Deposits
1
-----
.
+17,600
Change from last week.
340,952,800 1,123,616,000
—1,316,300
—5,294,500
,
183,143,200
—187,800
123,348,300
—52,900
31.1
25.5
24.4
Reserve
deposits
on
Change from last week.
91,121,700
—2,485,300
130,573,900
—750,400
23,009,800
—457,900
27.5%
28.1%
16.8%
17.0%
19.9%
V
25.4
26.8
22,991,400
—448,000
27.2
"
P. C.
reserve
to deposits.
Percentage last week..
.
13.6%
13.8%
20.3%
25.2
28.3
25.3
+ Increase over last week.
—
Decrease from last week.
'
25.5
25.3
Note.—"Surplus" Includes all undivided profits.
"Reserve on deposits" Include
banks, not pnly cash items but amounts due
25.8
to iboth trust companies and State
26.2
25.6
Trust companies In New York State are required by law to
keep a reserve proportionate to their deposits, the ratio varying according to lo¬
cation as shown below.
The percentage of reserve required Is computed on the
25.6
aggregate of deposits, exclusive of moneys held
26.1
from reserve agents.
25.1
thirty
25.9
In trust and not payable within
days, and also exclusive of time deposits not payable within thirty days,
24.7
by certificates, and also exclusive of deposits secured by bonds or
obligations of the State or City of New York, and exclusive of an amount equal to
the market value (not exceeding par) of bonds or obligations'of the State or City
of New York owned by the bank or held In trust for It by any public department.
26.0
The State banks are likewise required to keep a reserve varying according to loca¬
25.7
tion, the reserve being computed on the whole amount of deposits exclusive of time
deposits not payable within thirty days, represented by certificates (according
to the amendment of 1910), and exclusive of deposits secured (according to amend¬
ment of 1911) by bonds or obligations of the City or State of New York, and ex¬
clusive of an amount equal to the market value (not exceeding par) of bonds or
26.0
26.1
28.4
110,696,0
14,404,0
26.8
25.2
23.6
29.9
24.4
represented
obligations of the State or City of New York owned by the company or held In trust
by any public department.
for It
24.8
28.5
24.3
24.4
25.0
25.6
27.9
25.3
25.0
25.3
25.2
26.0
Trust Cos.-—
Reserve Required for Trust Companies
and State Banks.
—State Banks—
Total
Of
Total
Of
Reserve
which
Reserve
which
Location—
Required, in Cash. Required, in Cash.
Manhattan Borough
15%
15%
25%
15%
Brooklyn Borough (without branches in Manhat.) 15%
10%
20%
10%
Other Boroughs (without branches in Manhattan) 15%
10%
15%
7X%
Brooklyn Borough, with branches in Manhattan. 15%
15%
20%
20%
Other Boroughs, with branches In Manhattan... 15%
15%
15%
15%
Cities of the first and second class
10%
5%
Cities of the third class and villages
10%
3%
Elsewhere in State..
15%
6%
-
25.0
25.0
The
rate
1354,348,0 290,131,0 73,208,01362,061.0
26.6
trust
of national banks in the
Clear- '
$46,956,000.
Banking Department also undertakes to present
sepa¬
figures indicating the totals for the State banks and
companies in Greater New York
House.
was
—63,700
—-
25.9
28.9
3,288,0
8,353,0
3,808,0
3,408,0
5,766,0
14,782,0
9,142,0
4,085,0
11,589,0
4,515,0
27,002.0
26,503,0
10,285,0
23,837,0
14,412,0
6,456,0
9,071,0
6,830,0
Legal-tender & bk. notes.
27.0
of averages, circulation
Specie.
133,650,0207,223,2 1,354,958,0295,911,0
46,250,0 95,669,7
563,332,0 56,461,0
1354,958,0 295,911,0 74,429,0 1369,897,0
Ing House amounted to $46,803,000,
and, according to actual figures,
$
3,950,0
773,0
8,133,0 1,603,0
3,935,0 1,354,0
13,544,0 2,474,0
4,130,0 1,676,0
51,038,0 8,958,0
4,290,0 2,171,0
1,342,0
217,0
445,0
59,0
2,348,0
195,0
9,660,0 1,668,0
18,721,0 8,606,0
565,0
715,0
3,126,0 1,718,0
432,0
152,0
,15,427,0
4,815,0
1,636,0
1,526,0
3,407,0
Loans.
Trust cos.
Change from last week.
$
COMPANIES.
On Dep.
ending
Change from last week.
Loans.
20,579,0
AND TRUST
•
Average.
..
2,000,0
2,050,0
2,000,0
6,000,0
1,500,0
25,000,0
3,000,0
%
95,669,7 563,332,0 56,461,0
Loans and Investments..
00s omitted.
$
The capital of the trust companies la as follows:
Brooklyn, $1,500,000; Bankers,
$10,000,000; United States Mortgage & Trust, $2,000,000; Astor,
$1,250,000; Title
<&
Trust, $5,000,000; Guaranty, $10,000,000; Fidelity, $1,000,000;
Lawyers' Title Insurance & Trust, $4,000,000; Columbia-Knickerbocker.
$2,000,000;
People's, $1,000,000; New York, $3,000,000; Franklin, $1,000,000; Lincoln,
$1.000,000; Metropolitan, $2,000,000; Broadway, $1,500,000;
total, $46,250,000.
Aug. 2.
.
$
728,0 2,079,0 18,742,0 15.5+10.0
255,0 19,394,0 90,989,0 15.1 + 17.5
355,0 4,762,0 30,390,0 15.0+13.3
33,0 2,572,0 12,538,0 15.1 + 16.3
1,017,0 4,524,0 19,393,0 15.1 + 18.5
1,159,0 20,804,0 104,723,0 15.6 + 16.5
235,0
781,0
5,503,0 15.2 + 10.9
340,0 1,278,0
11,066,0 15.4 + 10.3
735,0 4,791,0 37,199,0 15.0+11.4
401,0 2,050,0 14,046,0 15.0+12.5
450,0 3,920,0 29,272,0 15.2+11.8
145,0
903,0
7,203,0 15.4+11.0
217,0
947,0
8,424,0 15.1 + 10.1
9,0 1,908,0
12,232,0 15.0+13.4
483,0 1,635,0 10,666,0 15.3 + 13.2
Aug. 2. 564,888,0 59,309,0
6,000 Paxton L. & Z. Mining Co.,
By Messrs. Samuel T. Freeman
Shares.
31,
Insurance Co...
Bonds.
$6
Co. of U. 8., $10 each
1
60 Phila.
$
Reserve.
Average.
Guarantee
Banks
$ per sh
avge__
Actual figures
Net
Deposits.
$ per sh.
-
20 U. S. Envelope Co., preL
747 McLaughlin Bros., Inc..$200 lot
1 Commercial Trust Co.
420
10 Mtge. Co. of Pa., $25 each.. 35
V
Totals,
.
$
SUMMARY COVERING BOTH BANKS
By Messrs. Barnes & Lofland, Philadelphia:
Shares.
Metropolitan
Broadway
$
3,571,5
23,833,0 2,187,0
14,874,3 117,179,0 13,486,0
4,455,2
36,502,0 4,205,0
1,208,4
18,252,0 1,863,0
11.355.1
32,617,0 1,929,0
23,863,5 153,680,0 15,263,0
1,324,0
7,324,0
603,0
5,776,2
16,773,0 1,368,0
7.165.4 46,799,0 4,832,0
1.529.5
15,325,0 1,697,0
11.939.2 43,414,0 "4,016,0
1,180,5
8,962,0
967,0
512,1
9,833,0 1,057,0
6,114,0 21,560,0 1,838,0
800,8
11,279,0 1,150,0
August^.
Shares.
125K
York
Dep.
Percent.
,
$491,000 Ft. Dodge Des M. & Sou.
RR. CO. 1st 5s, 1932
85
10 Dwight Mfg. Co., $500 each.. 1056
People's......
New
Franklin
Co., Boston:
Bonds.
By Messrs. R. L. Day & Co., Boston:
Shares.
Col.-Knickerb.
Lincoln
Shares.
75,001 Golden Empire Mining Co.,
_,
COMPANIES.
Specie.
Legals. withC.H.
Average, Average. Banks.
Average.
LawyersT .I&T
Auction
Loans.
Surplus.
00s omitted.
10,052—The Southern National Bank
of, Merkel, Tex., July 25 1913.
Absorbed by The Farmers'State Bank of Merkel.' Liquidating
agent, John Sears, Merkel, Tex.
".
not
TRUST
On
'
VOLUNTARY
OF
xcvii.
of the
Currency, Treasury Department:"
•
[Vol.
These figures
are
not
in the
Clearing^
shown in the table below,
as are
also the results (both actual and average) for the Clearing-
AUG. 9
House banks and trust
In addition,
companies.
thus affording an aggregate
we
Philadelphia Banks.—Below is a summary
totals of the Clearing-House banks of Boston
and Philadelphia:
Boston and
have
of the weekly
in the two statements,
combined each corresponding item
345
CHRONICLE
THE
1913.]
for the whole of the banks and
(00) in all these figures.
We omit two ciphers
companies in the Greater New York.
trust
Capital
TRUST COMPANIES.
CITY BANKS AND
NEW YORK
Loans.
and
Banks.
:
....
Clear .-House
State Banks and
Total of all
Members.
Trust Cos. Not
Banks & Trust
Average.
in C.-H. Aver.
Cos.
Clear.-House
Members.
ActtialFigures
$
$
%
$
Average.
14.
21.
June
28.
July
5.
July
July
12.
19.
July
26.
2.
179,900,000
179,900,000
27,550,000
207,450,000
Surplus as of June 4...
302,892,900
302,892,900
75,596,100
378,489,000
Loans and investments
1,919,236,000
+ 2,890,000
1,918,290,000
-7,110,000
546,061,200
—1,518,700
2,464,351,200
—8,628,700
1,779,692,000
—7,058,000
Change from last week
1,782,283,000
—8,441,000
a549,483,700
—2,483,000
2,331,766,700
—10,924,000
352,372,000
+6,244,000
64,140,800
—1,018,000
416,512,800
Change from last week
349,440,000
—146,000
+ 5,226,000
July
July
Legal-tenders
Change from last week
79,928,000
—3,885,000
80,991,000
—4,386,000
57,498,600
88,489,600
—4,381,200
Aug.
+4,800
Banks: cash in vault..
363,339,000
370,340,000
12,028,700
382,368,700
26.67%
27.03%
13.56%
60,029,000
63,023,000
59,610,700
122,633,700
429,368,000
—4,031,000
433,363,000
+ 1,858,000
71,639,400
—1,013,200
505,002,400
+844,800
68,462,000
—5,565,000
72,348,000
+ 1,540,000
17,363,200
—650,400
89,711,200
+ 889,600
497,830,000
—9,596,000
505,711,000
+3,398,000
89,002,600
—1,663,600
594,713,600
+ 1,734,400
Change from last week
Deposits
Specie
Aug.
14.
June
21.
June
28.
July
July
5.
12.
19.
20.
2.
Aggr'te money holdings
Change from last week
Change from last week
Total reserve
.<
Change from last week
Change from last week
+ 3,772,050
cos—
15.28%
14.92%
29.89%
30.20%
Total
.
+ Increase over last week.
a
These are the deposits after
—
:
The averages
$2,647,927
13,300,111
$3,096,845
15,360,336
$15,037,013
$17,540,860
$15,948,038
$18,463,181
$88,568,578
494,480,622
$85,524,255
508,860,362
$83,194,733
434,455,034
$94,267,858
467,499,617
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Aug, 2 and from Jan. 1 to date:
\
Decrease from last week.
EXPORTS FROM
NEW YORK.
outside of the
weeks past:
Clearing House, compare as follows for a series of
TRUST COMPANIES IN
COMB:.NT 3D RESULTS OF BANKS AND
Total 31 weeks
—
two
ciphers
31.
May
7...
Juno
14...
June
June
21...
June
28
July
July
July
July
Aug.
Deposits.
5...
12...
19...
26...
2...
Specie.
%
$
%
2,478,544,0
2,479,212,8
2,400,968,5
2,449,301,4
2,456,190,0
2,481,840,3
2,479.309.2
2.479.832.8
2.472.979.9
2,464,351,2
2,330,812,1
406.538.7
2.329.259.1
2,318,894,4
2,318.877.0
2.324.559.2
2.352.237.2
406.622.4
413,226,6
2.346.069.6
2.345.903.3
2.342.690.7
2,331,700,7
1912 and 1911:
Tot Money
EntireRes.
Legale.
Holdings.
onDeposit
%
$
.
420,990,1
423,439,0
417,144,3
406.995.5
407,142,5
411.280.8
410,512,8
IMPORTS OF SPECIE AT NEW YORK.
.
571.814.4
88.489.6 ,505,002,4
594.713.6
Reports of Clearing Non-Member
569,830,2
573.727,0
597.360.5
601,506,7
595,249,4
587,026,9
584,407,2
592,979,2
Week,
$43",575",270
0,701
South
America
....
All other countries
,
Disc'ts
On
Total 1913
Total 1912..
Tender
Deposit
150,100
and
and
with
Net
plus.
Invest¬
Bank
C.-H.
Desposits.
ments.
Notes.
Banks.
Specie,
48,906
$627,093 $11,772,220
13,499,936
79,434
7,990,690
152,609
2,915,041
12,394
$13,983
58,555
23,024
87,821
2,987,298
1,520,088
906,604
$198,708
144,825
147,161
$5,597,373
5,921,744
4,697,982
$551,146 $25,873,531
3,844,786
88,887
Britain
Great
France
Germany
,
510
West Indies
.....
"""36", 304
$384
"""7",909
130,524
55,406
Mexico
America
_
_
--------
1,200
.
$640,543 $29,763,730
1,294,299 32,316,172
1,318,699 30,166,648
:.
Total 1911...
-Sur¬
tal.
41,635
$47,821
911,682
2,944
587,212
6,932,433
2,115,476
1,174,652
Silver.
Total 1912
Capi¬
232,704
$68,695,596
32,469,533
$686
Total 1913
Leoal
$300,087
5,171
22,448,289
1,716,015
Mexico
All other countries
all these figures.
•
Since Jan. 1
714,000
Germany......
South
results:
Banks.
Week.
v Since Jan. 1
France
Total 1911...
Banks.—The follow¬
Loans,
Imports.
Exports.
Gold.
$
93,010,3 499,549.0
91,574,2 498,196,6
91,897,0 505.124.2
92,732,2 513.722.3
93,370,9 516,809,9
88.559,9 505,704,2
91,587,0 498.582.5
92.313.5 499,456,0
92,870,8 504.157.6
ing is the statement of condition of the clearing non-member
banks for the week ending August 2, based on average daily
We omit two ciphers (00) in
imports of
at the port of New York for the week ending Aug. 2
and since Jan. 1 1913 and for the corresponding periods in
these figures.
all
in
Loans and
Investments
Week Ended—
$13,958,811
374,595,700
$546,131,906 $493,725,711 $462,149,839 $388,554,520
following table shows the exports and
The
EXPORTS AND
omit
1910.
$11,723,922
450,425,917
specie
GREATER NEW YORK.
Ws
$14,651,472
479,074,239
$16,343,572
529,788,334
!
Previously reported
For the week
1911.
1912.
1913.
In
deposits" both
combined with those for the State banks
companies in Greater New York
trust
last week;
b Includes bank notes.
of the New York City Clearing-House banks
and trust companies,
and
1910.
1911.
1912.
$2,480,104
15,060,750
eliminating the Item "Due from reserve depositories
York City"; with this Item Included,
actual figures,
for Clearing House," which
$2,913,526
12,123,487
and other banks and trust companies In New
for the average and the
At Boston
August 2, against $1,624,000
rt
'
<
17.88%
deposits amounted to $617,335,600, a decrease of $5,536,700 from
the case of the Clearing-House members, the deposits are "legal net
161.528.9
$583,049,200 $594,390,617 $517,649,767 $561,767,475
Total 31 weeks
16.50%
1.38%
.
11,279,0
11,275,0
11,269,0
11,305,0
Week.—The following are
for the week ending Aug. 2; also
of the first week in January:
1913.
For Week.
Since Jan. 1.
14.08%
11,250,0
FOREIGN IMPORTS AT NEW YORK.
1,165,100
15.81%
170.199.6
160.630.1
161.405.8
175.479.7
156.380.5
101,260,7
140.390.6
Imports and Exports for the
Dry Goods
General Merchandise
dep. with bks
on
89,412,0
89,151,0
90,459,0
92,093,0
89,604,0
90,313,0
the imports at New York
totals since the beginning
29,030,850
Cash in vault
137.742.0
11,310,0
11,240,0
11,251,0
"Deposits" now include the item of "Exchanges
reported on August 2 as $14,771,000.
20,208,100
—1,949,600
Cash
9,558,0
•418,769,0
♦415,169,0
♦414,948,0
♦419,892,0
•413,615.0
♦416,635,0
♦407,151,0
♦409,904,0
were
27,885,76b
% of cash reserves of tr ust
142,433.1
179,828,1
134,189,6
deposits and the item "due to other banks."
Total
Total
9,376,0
9,566,0
■
22,823,750
3,384,350
Banks (above 25 %)..
Trust cos. (above 15 %)
274,343,0
263,246,0
259,772,0
deposits amounted to $1,531,000 on
Dry Goods
General Merchandise
Surplus CASH reserve
90.394,0
372,970,0
Includes Government
July 26.'
on
deposit with
other bks. & trust cos.
260,802,0
91,611,0
376,238,0
374.903,0
375,360,0
376,195,0
374,902,0
373,535,0
371,501,0
103,684,3
103,084,3
103,684,3
103,684,3
103,684,3
103,684,3
103,684,3
103,684,3
Government
♦
Trust cos.: cash in vault
$
154.107.8
137.795.1
131.286.2
157.938.4
7,966,0
7,952,0
8,094,0
8,609,0
8,802,0
Phlla.
June
a
Ratio to deposits
27,763,0
222,963,0
$
271,593.0
267,443,0
263,335,0
270,603,0
4.184,0
4,587,0
4,262,0
3,481,0
4,074,0
4,327,0
4,093,0
3,709,0
228,794,0 26,991,0
226,011,0 27,113,0
220,770,0 26,596,0
227,086,0 25,157,0
225,033,0 27,104,0
225,428,0 29,323,0
223,017,0 29,813,0
00,735,4
00,735,4
00,735,4
60,735,4
60,735,4
60,735,4
60,735,4
60,735,4
<
$
$
%
$
Boston
June
June
Capital aa of June 4...
on
Clearing e
lation.
a
,
Week ended August 2—
Money
Circu¬
Deposits.
Legale.
Specie.
Surplus.
-
imports for the week in 1913, $3,390 were
coin and $355 American silver coin.
Of the above
Americah gold
New York City.
Manhattan and Bronx.
100,0
349.7
Battery Park Nat
200,0
Century
500,0
400,0
119,9
511,3
Washington
Heights.
Colonial
300,0
200,0
Columbia
Fidelity
250,0
200,0
200,0
200,0
100,0
Mount Morris
Mutual
New Netherland
Twenty-third Ward..
Yorkville
656,3
767,6
173.5
334.3
470.4
300.6
104.4
489,3
1,756,0
1,572,0
6,447,0
6,497,0
5,783,0
1,075,0
2,190,0
4,728,0
3,374,0
1,888,0
4,284,0
150,0
315,0
681,0
967,0
506,0
54,0
368,0
516,0
392,0
199,0
563,0
99,0
32,0
305,0
211,0
447,0
121,0
37,0
348,0
130,0
92,0
186,0
187,0
117,0
1,494,0
332,0
6,067,0
863,0
654,0
179,0
289,0
870,0
329,0
222,0
494,0
6,614,0
6,438,0
1,012,0
2,399,0
4,795,0
3,495,0
2,003,0
4,661,0
554,0
620,0
1,590,0
804,0
558,0
3,074,0
4,775,0
11,638,0
4,493,0
2,329,0
3,158,0
1,822,0
1,443,0
1,599,0
Brooklyn.
300,jo
252,0
First National
Manufacturers' Nat..
701.6
944.3
1,000,0
300,0
200,0
592,9
400,0
250,0
200,0
1,404,2
First National
220,0
682.4
Second National..
125,0
283.7
Mechanics'
.....
National City
North Side
...
585.5
177.6
3,769,0
381,0
5,413,0
419,0
9,711,0 1,304,0
4,555,0
528,0
2,307,0
185,0
52,0
255,0
450,0
100,0
108,0
Jersey City.
First National
Hudson County NatThird National
1—
826.8
431.7
4,306,0
3.254,0
2,612,0
285,0
229,0
89,0
277,0
59,0
135,0
1,474,0
4,283,0
3,349,0
231,0
,187,0
64,0
47,0
766,0
388,0
568,0
471,0
iJauMtifl iwtl ^financial.
115 Issues of
The
issues
are
Investment. Speculative.
Listed Stocks
as follows:
Investment,
Investors Interested In stocks can
classified
by
us
of this circular free of charge
"Railroad and Industrial Stocks."
a
copy
Semi-
obtain
by sending for Circular 614,
Spencer Trask & Co.
43
EXCHANGE PLACE—NEW
YORK
Chicago
Boston
Albany
fcHoboken.
j.
Totals Aug.
Totals July
Totals July
6,097,0 10,908,0 83,153,0 8,549,0 3,555,0 12,329,0
2
6,097,0 10,908,0 83,470,018,791,0 3,652,0 13,137,0
26
19—. 6,097,0 10,908,0 83,339,0 8,896,0 3,746,0 12,896,0
B
White, Weld & Co.
1,503,0
1,513,0
76,325,0
76,928,0
77,273,0
Bonds and
14 WALL
STREET
NEW YORK
Investment Securities.
THE ROOKERY
CHICAGO
ill DEVONSHIRE STREET
BOSTON
34<;
THE
\mkzx$*
Money Market and
Cincinnati,
Friday Night, Aug. 8 1913.
Financial
Situation—The
general situation has improved somewhat during the week.
The effect of this
circles is
in
seen
improvement in financial and investment
a
more
hopeful feeling and
advance in security values.
It has not, however, awakened
perceptible outside interest in
any
reported to be
the Stock
dence.
There is
the market.
commission-house business, but of this
more
Exchange sales sheet bears
This interest will
of the season, the
vance
corresponding
a
little if
evi¬
any
undoubtedly develop with the ad¬
marketing of
and the
crops
panying general business activity.
Secretary McAdoo's plan to distribute
accom¬
*
of Government
funds
large amount
a
interior banks has attracted
■jvide attention and served to allay any fears heretofore exist¬
ing as to money market conditions during the remainder of
the year.
a
little
among
The immediate effect in the local market has been
more
willingness
on
the part of lenders to accept offers
for time loans and by banks to
their customers.
Rates
liberally accommodate
have, therefore, had a tendency to
soften.
The announcement on
Monday that the InterState Commerce Commission had ordered a
general reduction
of 25% in express rates
naturally resulted in a sharj) decline
of express shares at the
Exchange. A report of the idle cars
on Aug. 1 shows that the number
decreased 6,564 during the
last half of July and foreshadows
a possible
shortage of
freight cars in the near future. Among the favorable rail¬
way earnings reports, that of Brooklyn Rapid Transit, show¬
ing a net substantially larger than that of the previous year
more
commented upon.
The situation abroad ha? also
improved. A new treaty
of peace between the
belligerent Balkan States, it is hoped,
will be more effective than the
previous one and
was
.
European
financial
markets
which the
somewhat
are
relieved
from
strain
the
has
imposed.
French Government securities
have advanced this week, British Consols are
higher and the
Bank of England reports an
enlarged percentage of reserve;
The open market rate for call loans at the Stock
Exchange
during the week on stock and bond collaterals have ranged
from 2@2%%.
Friday's rates on call were 2@2%%.
Commercial paper on Friday quoted at
6@6%% for 60 to
90-day endorsements and prime 4 to 6 months'
single
names
and 6% @7% for good
single names.
The Bank of England
weekly statement on Thursday
showed a decrease in bullion of
£271,226, and the percentage
of reserve to liabilities was
55.90, against 53.84 last week.
The rate of discount remains
unchanged at 4%%, as fixed
April 17.
The Bank of France shows an increase of
2,561,000
francs gold and 11,215,000 francs silver.
war
NEW YORK CLEARING-HOUSE BANKS.
'
000,
par.
par
value,
per
movement
has, however, been a moderate one.
The trans¬
a fairly
large number of issues, but in only
actions included
few
have these been in any
way noteworthy.
The Erie and Wabash bonds have been
relatively active,
the latter closing 1% points higher than last
week.
New
Haven 6s also recovered a part of their recent
cases
heavy decline.
United
States
Bonds.—Sales of Government bonds at
the Board have been very much
restricted,
including only
$24,000 Panama 3s coup, at 99% to 99%, $5,000 3s coup, at
102% and $1,000 4s reg. at 110%.
For to-dayfs prices of all
the different issues and
for yearly range see third page following.
Railroad
and Miscellaneous Stocks
—Except for a
slight reactionary tendency on Wednesday and to-day, the
stock market has been
strong throughout the week.
The.
transactions have been on a limited scale,
however, amount¬
ing to only 163,485 shares on Monday and averaging a trifle
more than 250,000.
To-day's market was generally weak
in anticipation of an unfavorable
crop report, but not all
stocks participated in the decline.
The grangers, which
have been notably
strong during the week, advanced again
to-day, Canadian Pacific recording a gain of 1% points.
St. Paul closes 3 % points
higher than last week, Northern
Pacific 2% and Great Northern
2%.
Union Pacific has
been
strong^ on rumors of benefits growing out of the dis¬
position of its Southern Pacific Stock and closes 4% points
higher than last week. '
All the copper stocks have been
strong on better trade
conditions
in
the
Aug. 2.
Differences
from
previous week.
STOCKS.
Sales
Week ending Aug. 8.
Adams Express.
Allls-Chal rects 5th paid
Am Brake Shoe & F, pref
___
American Coal Products
Preferred
Amer Teleg & Cable.
Capital....
Surplus..
....
Loans and discounts.
Circulation
Net
...
deposits
Specie
:i
....
Legal-tenders
eserve
...
held
....
25% of deposits
Surplus
133,650,000
207,223,200
1,354,958,000
46,803,000
1,369,897,000
295,911,000
74,429,000
...
•r
20
%
Dec." 8,148~666
Inc.,
Deo.
120,000
6,479,000
$
•
Inc.
6,151,000
Dec,
4,387,000
370,340^)00 Inc.
342,474,250 Dec.
1,764,000
1,619,750
376,586,000
357,305,000
369,877,000
355,872,000
3,383,750
19,281,000
14,005,000
reserve
27,865,750 Inc.
now
issues
a
statement, weekly,
showing the actual
condition of the banks on
Saturday morning, as well as the above averages.
The
figures, together with the returns of the separate banks and trust
companies, also
the summary issued by the State
Banking Department
giving the condition of
State banks and trust
companies not
the second page
reporting to the Clearing House,
preceding.
appear on
Foreign Exchange.—The market for sterling
exchange
has ruled
particularly quiet during the week. The changes
in quotations were
evidently largely the work of the smaller
class of operators, and were not
important;
The supply of
bills appeared about
equal to the demand.
To-day's (Friday's) .actual rates for sterling exchange were 4
8325@4 8335
60 days, 4 8660^4 8670 for
cheques and 4 8705@4 8715 for cables.
for
Commercial on banks 4 81
@4 83 and documents for payment 4 82% @4 83.
Cotton for payment 4 82
% @4 83 .and grain for payment 4 83 @4 83 %.
The posted rates for
sterling, as quoted by a representative house, were
not changed
during the week from 4 83K. for 60 days and 4 87 for
sight.
To-day s (Friday's) actual rates for Paris bankers' francs
were 5 21%
less 1-32 @5 21% for
long and 5 18% @5 18% less 7-64 for short.
Germany
bankers marks were 94 5-16
@ 94 % for long and 95^ less 1-32 @ 95 % *or
short.
Amsterdam bankers' guilders were 40 1-16
@40 1-16 plus 1-32
for
short.
Exchange at Paris on London,
high and 25f. 24c. low.
25f. 24%c.;
week's range,
,ffiHxc£a?£e,-at ?erlin
25f. 25%c.
on London, 20m. 46% pf.; week's range,
and 20m- 46pf. Iowforeign exchange for the week follows:
Vf/M«
1
Sterling Actual—
Sixty Days.
Cheques.
Cables.
High for tfye week...4 8335
»
4
20m.
miP
The range for
/.)■«
n
A s%4n
i
j~t
l~f
»
4
.
.
T~k
Low for the week...4
8305
Paris Bankers' Francs—
.
8675
4 8715
4 8650
4 8695
High for the week...5 21K
Low for the week...5
week
fi 21
91 i/a
% less 1-32
5 18
5 18
-
Germany Bankers' Marks—
High for the week...
94 7-16
Low for the week...
94 5-46
Amsterdam Bankers' Guilders—
High for the week...
Low for the week...
less 5-64
less 1-64
5 18% plus 1-64
5 18% less 1-16
95 3-16 less 1-32
95 1-16
39 13-16 plus 1-16 401-16
plus 1-16
39 13-16
>
40 1-16
95%
95 3-16 less 1-32
,
40% plus 1-32
40% less 1-16
60
Aug
7% Aug
400
1,400
United
Preferred
100
......._i_.
J
Quicksilver Mining.....
Preferred
Preferred 1
....
Sc.
69
Aug
100 175
Aug
Aug
50 105
Aug
400 127
Aug
125
7% Aug
100
77% Aug
230
66
Aug
100
53
H Aug
2
Aug
100
250
Sloss-Sheffield S & I, pref
United Dry Goods
States
Steel
Range since Jan. 1.
3% Aug
Highest.
129
7% Aug
80
July
Aug 175
July
60
Aug
59
Mar
66 J*
Jan
7% Aug
17% Aug
66
Aug
8c. Aug
69
Aug
175
Aug
105
Aug
6%
June
83*
Mar
Aug
253*
Feb
Aug
69
Aug
13c.
Feb
803*
June 18534
Apr
127
120
17%
64
5c.
67)4
170
104
Aug
7 H Aug
77 % Aug
Aug
53)4 Aug
2
July
87
Jan
69
Apr
July
July
Aug
633*
2
Aug
43
Aug
49
Aug
40
Wells, Fargo <fe Co..—
-244
96
Aug
100
Aug
Western Maryland, pref
400
57
Aug
60
Aug
3%
Jan
434 May
8
May
98
Apr
87
Jan
37
July 101
July 10534
July 66 "
July 34
Jan
113*
Aug
215*
Jan
July 125
53% June 6734
Apr
.
91
Market.—Developments in the
way
the "curb"
on
Jan
Aug
Aug
73*
June
Aug
11% Aug
49
40
Jan
51
Aug
50
Feb
66
75%
67
Mar
June
May 10934
July 127
5%
88
in the volume of business
Jan
July 110
96
11% Aug
94
July
100
1173*
Aug
99
-
Aug
Aug
99
90
Jan
7% May
Jan
%
105
Aug
Aug
13
20
July
June 136
135
100
Outside
128
Aug
50
Highest
Aug 150
5%
132 % Aug
82
Aug
334 Aug
91
Aug
90
Aug
91
100
Lowest.
129
Aug
United States Express..
Virginia Iron, Coal & CVulcan Detinning
crease
Mote.—*-The Clearing House
Aug
17 % Aug
64
Aug
Mackay Companies
133,650,000
135,150,000
197,084,400
190,141,300
1,389,468,000 1,388,484,000
45,537,000
47,734,000
1,429,220,000 1,423,488,000
294,922,000
292,255,000
81,664,000
77,622,000
82
100
week
-%
.
12
7% Aug
132Aug
100
Averages for
ending
100
100
Aug
Chicago <fc Alton, pref..
Colo & Sou, 1st pref
week ending
Aug. 5.
10 129
Brunswick Terminal
Averages for
Aug. 3.
Lowest.
20 101
Aug
210 117 % Aug
American Express
N Y Chic & St Louis..
$
United
Range for Week.
Week.
Comstock Tunnel
1911.
and
yfor
Gt Nor subs 60% paid.Keokuk & Des Moines..
.
market
3% points higher than it sold on Monday.
A
For daily volume of business see
page 356. V
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
General Chemical
1912.
week ending
metal
closes
Preferred
Averages for
$1,500,day, the market for railway and industrial
bonds has responded to the more
hopeful conditions noted
above by a general upward movement of
prices.
This
Detroit
(Not Including Trust Companies.)
1913.
ictii.
State and Railroad Bonds —Sales of State bonds at
the
Board are limited to $10,000 New York
4s, 1961, at 97% to
97%, and $20,000 Virginia 6s def.tr. rects. at 48 to 48%.
On a volume of business that
averaged only about
a
very
[YOL.
Domestic Exchange.—Chicago, 20c. per $1,000 discount.
Boston, par.
St. Louis, 25c. per $1,000 discount bid and 15c. discount
asked.
San Fran¬
cisco, 40c. per $1,000 premium.
St. Paul, 20c. per $1,000 premium.
Montreal, 62%c. premium.
Minneapolis, 20c. per $1,000 premium.
<£a&eit&
Wall Street,
The
CHRONICLE
of
an
were
Jan
Jan
Jan
Jan
in¬
again
lacking this week and trading has been of the same meagre
proportions as for some time past. There was, however, a
better tone and prices advanced, though to-day the market
showed a reactionary tendency.
British-Amer. Tobacco
moved up from 22% to 23 and down to-day to 223^, the close
being at 22%, United Cigar Stores, com. gained a point
to 84 and reacted to-day to 83%.
Tobacco Products* pre¬
ferred improved from 84% to 86%.° Standard Oil shares
were active and strong in the early part of the week but later
business became very moderate.
Anglo-Amer. Oil rose
from 19% to 20.
Standard Oil of N. J. advanced 4 points
to 370.
Activity continued in New Haven and Union
Pacific "rights," the former moving up from 1% to 21-16
and down finally to 2 and the latter from % to %, with the
close to-day at 11-16.
Southern Pacific ctfs. of interest,
after easing off from 94 to 93%, ran up to 96 and ended the
week at 95.
New Haven deb.
6s "w. i." led in
activity in
department and advanced over a point to 106%,
the final figure to-day being 106.
Bklyn. Rap. Tran. 5%
notes sold up from 95% to 95% and
Chicago Elevated 5%
notes from 93% to 95%.
Mason Valley 6s advanced from
82 to 85.
Transactions were recorded in N. Y. City 4%s
at 95.
Mining shares were quiet. Braden Copper sold up
from 6% to 6% and ends the week at 6%.
British Columbia
improved from 2% to 2%. Greene Cananea advanced
steadily from 6% to 7% and closes to-day at 6 %, ex-dividend.
the bond
Goldfield Consolidated weakened from 1
Nipissing
from 8% to 8%.
Outside quotations will be found
rose
1
on
11-16
,
page
to
*
356.; "
1
9-16,
^
*
347
Exchange—Stock Record, Daily, Weekly and Yearly
New York Stock
OCCUPYING TWO PAGES
inactive,
For record of sales during the week of stocks usually
AND LOWEST
STOCKS—HIGHEST
Saturday
Monday
Tuesday
August 2
August 4
August 5
95*8
9838
96%
96%
9812
98i2
♦119
120
♦118
96
♦9512
96
♦78
875s
875s
120
955a
81
♦78
96*4
97*2
98%
98%
120% 121
96i4
963s
7934
79*4
9634
98%
81
88
88
877S
♦280
•280
"5414
65
14i2
*13
2834
30
182
182
182
*170
182
40
*36
45
40
40
*173*2 182
45
*37
90
90
.
158
156*8 15618 {156
156
390
395
395
*390
420
20
20
20
32%
32
♦5
*5
612
12
•34
37
36
37
29
3714
105i2
57%
69l2
11
10
♦8l2
♦16
•132% 13334
*127
132
145
*140
22
22
22
♦65
58
♦56
145
.
2978
•89
93
115
♦100
15812
115
89
♦85
90
17
1678
2778
414
277s
4l2
16i2
6U
•14
*8*2
57*4
32i2
♦36
126
57*4
23*8
24
58
57*2
57*8
33
32ig
33%
32*4
12*4
987g
99l2
29%
30
105U 10512
{105
93
*89
♦80
90
*80
90
♦80
90
88*4
•85
89
♦87
89
*87
88
88U
1714
28l2
29
4%
1612
•14
6i2
*6
7
17*8
29*4
175s
29i2
*4
4*4
""
1612
16*2
18
177g
18*8
29*4
4*4
16*2
6*2
29*g
*4
30
4*2
*14
16*2
*14
6*2
*6
27
27
75
67*2
26*4
67*2
♦65
19*4
19
19*8
19
42*4
43
921g
24%
•43*4
92*8
24*8
43*2
9214
435g
93
25
43*1
927,
44*4
94
43*2
25
25*2
79
79
*79
80
*79
80
17*4
36*4
12*2
*18
17
35*8
*10*4
35*2
24%
795s
19
19%
I684
16*4
17
34*4
1634
35*2
36
36*4
12%
125g
125g
12*4
36*4
*10*1
93*g
25*4
24
*20
*20
25
♦22
23l2
22%
23%
105*4
105*4 *104
105*4 *104
•10234 10534 •104
149*8 151%
150*4 152*4
148% 1495s
44734 14812
85
83
84
84
84
83lg
831g *84
24
*21
*23
♦21
24
26
•21
23%
♦41
43
2*4
734
3912
234
784
,
40l2
•5
5%
6i2
•17
20
*7
8l2
43
.
2*4
8l2
40%
5%
20
*6i2
8%
42
3
*8i2
*39
6I4
•17
812
40*4
40*4
*5*4
*17*1
50
687S
•4514
693s
46
6914
•4412
71*8
50
*46
47ig
•92
95
♦92
95
*92
95
•24l2
27
26
27
•70
75
♦70
75
♦70
32
32
33
33%
93
92U
4412
92*4
93
45
113
26*4
♦112
44*4
113
45
3712
537*2
3712
63712
•65
6534
*65
65%
*65
•8I4
245s
*31
41%
41%
4234
96
♦92
4
♦4
22lz
23U
9
245s
31%
♦2112
23%
414
22l2
2314
9
9
♦24
26
96
*45*2
71*4
♦22
23
233g
*884
*24
♦22
23*^
265,
9%
*24
42
5*4
*17
9*2
50
46
113
*33*4
37*2
11*4
42*8
57s
Do
1st
10*2
10*2
300
Do
2d preferred
467,
49
700
♦65
69
43*8
44
*94*2
95
23*4
23*4
o
a
*23
27
27
75
33
33*2
92
935g
65
65
43*8
44i2
*22*2
*22*2
*8*4
25*2
33
32*2
83*2
*100*4
100*2 101
♦7*2
*7*2
8*2
*47
50
♦47*2
23*2
23*8
9*2
25*2
33*2
101*2
8*2
•10012 101%
•158
160
*158
160
159
165
*160
167
101*8 101*8 ♦101*4 102
162
162lg 162*8 162
•99
100
*99
102
*99
102
*99
102
*99
102
*99
102
♦27
29
♦27
29
{29
29
29
29
29
29
30
30
•100
102
♦712
*4712
♦8012
63i8
812
50
811«
6334
32*4
33*4
100*2 101
♦7*2
8*2
*47
50
*81
82
65
66
*81*4
65*2
101*4 101*4
*81
82
66*2
65*2
500
100
200
50
66*s
1,200 American SnuffDo
preferred,
"""670
Moh
14
Dec
30
Dec
38
Dec
126
Jan
36
Jan
Bank*
Bid
Ask
New York
660
570
220
225
Battery Park
120
130
Bowery?
425
Bronx
BoroU
300
Bronx
Nat-
180
Bryant Park*
150
Amer Exch—
Baakb
Bid
A a*
Chat A Phen.
170
175
Fidelity?
Chelsea Ex?.
Chemical
147
153
Fifth Ave?
385
Citizens'
Cen
City
Coal
195
&
Banks
—
Bid
Aafc
165
175
4500
395
Fifth
300
170
175
First
950
345
350
Fourth
170
165
Garflekl
Iron.
160
Colonial ?.—
450
Columbia?..
May
Jan
59
Feb 11
29
Jan 11
35% Jan 13
Jan
75
20*4 Apr
9
1
48% Jan 29
110
Jan 30
40% Jan
13
Jan
2
8
2
9
Jan 9
Jan 23
Jan 6
Jan
35*2 Jan
63% Jan
29»4
108%
16234
93%
4
Feb
-
13% Jan 14
.
Feb
275
175
Dec
Jan
Jan
Dec
101%
30*2
593s
29*2
6912
4384
40%
80%
27*2
56*2
115*2
22% Deo
42% Dec
17*2 Dec
58*2 Dec
26*2 Dec
2934 Jan
68*2 Jan
Dec
4434 Dec
103*2 Dec
Feb
Jan
Dec
28
J'ne
150% Dec
88*4 Oct
28
J'lr
57
J'ly
45
Dec
3
4
Jan
1134 Oct
11
Jan
-36% Oct
3
8
Jan
40*8 J'ne 11
58*2 Apr 23
48
Feb
17% Get
62*2 Aug
61% J'ne 10
J'ne 23
80% Jan
57
Jan
2
60
Feb
9234 Oct
92% J'ne 3
1934 J'ne 10
99
Jan
2
50% Jan
2
7*2 May 5
14
Jan
3
80*2 J'ne 10
.86
Mch 6
467, Jan 31
129% Jan 30
36% J'ne 10
J'nolO
117
108
.
100
J'ne 18
56% Jan
2
Men
48*4 Jan
78% Jan
67% Jan
Jan
13
Feb-
101%
47%
126%
63%
J'ne
Oct
Sep
Sep
Feb
120
May
11*4 Feb
90% Feb
49
30% Oct
7514 Aug
,£T
45% Jan
95
Jan
8
3
Feb
9634 Jan 10
5%
28%
2734
11%
31%
44%
100%
Nov
90
115
6
2
2
Feb 10
Apr 4
20
Feb
18
Jan
Jan 31
Jan 31
9
30
Jan
6
3134 Feb
Jan
2
Jan
Jan
3
3
42
Jan
79*2 J'no 12
58% J'ne 10
80
Jan
9
84
Deo
7434 Jan 30
434 Jan
69% Aug
89% J'ne
J'ne
0
107
Feb
J'ly
9
193
Jan 22
123
100
J'ne
6
105
Jan 21
99
Mcb
Feb
25
J'ne
9
26
Jan
40% Feb
7
3
Bid
As4
Harrlman
280
295
Mt Morris
Imp <fc Trad.
495
504
Mutual ?
Banks
<
105
Bid
As*
250
290
Banks
Bid
Seaboard
430
Second
385
325
Irving
175
185
Nassau
190
200
990
Liberty
615
630
New Neth?..
210
225
Sherman
180
Lincoln
330
350
New York Co
850
875
State?
275»
Manhattan
395
405
255
265
23d Ward?—
Union Exch-
145
Security ?
....
115
135
f 190
415
Mech A Met.
230
237
Park
358
363
Wash H'ts ?_
275
475
Merch Exch.
150
155
People's ?.._
225
240
Westch
Avtf.
100
Merchants'..
175
180
Prod Exch ?.
160
Metropolis ?.
Metropol'n ?
325
350
Public^]
225
180
190
Reserve
170
Greenwich ?_
250
Hanover
630
80
t Ex-rlghts.
T sale at btock Exchange or at auction this week,
e
--
-
-
........
645
{ Less than 100 shares.
First installment paid,
n
If State banks,
;
?
a Ex-div. & rights.
Sold at private sale at this price,
x
Ex-div.
87
5
Aug
44% Oct
■■jii
225
?-
91
Sep
109% Sep
203% Deo
66% Dec
102% Jan
150
97
60% Nov
99% Feb
7% Sep „
34
Sep3034 May
177, Apr
43
Apr
47*2 Nov
110% Aug
10*8 Aug
—
Feb
103
61% Jan
4
60% Dec
8334 Deo
Mcb
45% J'ne 10
7% J'ne
t
63% Mch
54*8 Dec
J'lV
r -to4i,
% Mch
77
Sep
46*2 Dec
93
460
Gotham
69% Deo
934 May
227, Apr
64% Mch
400
105
Apr
—397s Deo
334 J'ne
123, J'ne
Gennania?—
308
63 on tlLl3 day.
30
111% Sep
17634 Sep *
96% Deo
Deo
103
German Ex ?
85
no
2612 Nov
4934 Jan
16% Mch
Dec
179
Cosmoporn Ti
Mch
Jan
Apr
Oct
Oct
Apr /
J'ne
Apr
Sep
8678 Oct
"
300
645
Apr
Apr
Apr
26%Jaul32
68*4
20%
33*2
10%
Pacific
635
Feb
179% Apr
93% Apt
New York
Chase
v
117
Jan
J'ne
240
303
n
Feb
131% Aug
126% May
111% Sep
335
Commerce
,
98
J'ne
230
Corn Rxd^-
♦
Jan
Apr
Apr
Apr
Aug
330
135"
River-
Jan
?
225
East
71
307g
121*2
142*4
41%
119%
Mark & Fult.
120
Aug
31% Mch
66
Apr
4734 Mch
143
210
....
158
146
Dec
25*2 Dec
57% May
35
J'ly
62*8 Oct
26% Oct
106*8 Deo
18
May
2
Amer Steel Found (new).
Banks
_
40
1287b Deo
18% J'ly
§40
Feb
92
Sep
18534 Jan
170
Aug
13834 Mch
27*2 J an
§67
Jan
154% Aug
Deo
137
Dr.
—
.
_
53
141*8 Jan
22
J'ly
073S Oct
31% Sep
65% Moh
18
Apr
Jan
May
9812
108%
148*8
8712
May
39*8 Apr
677o Apr
48
Apr
14334 Aug
Germ-Amer ?
Century 1—.
Butch A
^
23
May
Dec
BANKS AND TRUST COMPANIES—BROKERS' QUOTATIONS.
America If
46% Jan
lis4 May
Jan
72*2 May20
21
J'ne 11
new
Deo
24
Jan
20 Amer Smelters Sec pref B
11,690 Amer Smelting & Refin'g
Do
340
preferred
82
597
8
x44
preferred
American Malt Corp
Do
preferred
175*2 Feb
Aug
28% Jan 13
••
Do
Dec
18% J'ly
34% J'ne
8
Sep
46
Do
American Cities.
92% Apr 10
95
Apr 10
24% Feb 4
4434 Jan
2
1934 Jan 11
37, May 1
J'ne 11
13
33*4 J'ly 2
Do
400
preferred../
60*4 J'ne 28
33*2 J'ne 12
11,100 American Cotton Oil
Do
preferred
93% j'ne 17
American Hide & Leather
3% j'ly 9
Do
\ 15% J'ne 10
preferred
17
J'ne 10
1,050 American Ice Securities200 American Linseed
6% J'ne 10
Do
290
preferred
20*2 J'ne 10
27
J'ne 10
3,000 American Locomotive
297
4*4
31%
*30*2
3212
31*2
IOH4 IOU4 *10012 101*2
8
8
8
*7%
*47
50
4834
48*4
8H4
{81*4
*8014
81*g
64
65
64*4
66*4
{100l2 10012 *10112 103
J'ne 11
preferred-
40350 American Can
Do
preferred
3,800
3,650 American Car & Foundry
Do
245
preferred
*94
*4
2
162
630
88
2
81% Mch 26
J'ne 11
Dec
115% Jan
1197, Dec
6
7
22% Jan
6% J'ly 8
32
J'ne 10
-
Wisconsin Central
Industrial
&
Misceli.
122% Jan
12334 Jan
28% Jan
30
62% Apr
101*2 Apr
297g J'ne
U07% Feb
3
10*4 J'ne
7934 J'ne 10
16
J'ne u
Mch
'
Apr
NOV
95
126
Feb 13
87
19% J'ne 12
J'ne 10
15*4 J'ne 4
101*8 J'ne 6
137% J'ne 11
preferred
2,900 American Beet Sugar
Do
preferred
100
45*2 46
*112*8 115
3712
37*2
*4.4*4
*22*2 23*2
26
2,220 Wabash
Do
preferred
1,400
1,800 Western Maryland.
Wheeling
& Lake Erie1,100
4
113% Jan
72
4
2778 J'ne 10
7*8 J'ly 9
preferred
100
*70
33%
935s
46*4
113
23
Do
20
26*4
27
75
33*,
93*2
22*4 ' 23*2
*81i
9
26
11
6*
"""700
44*4
94
♦70
89% J'ne 11
'
Y)_.
725, 107,550 Amalgamated Copper
100 American Agricul Chern.
47*S
27*4
70
14% J'ne 10
38
J'ne 12
Toledo St L & WesternDo
500
preferred
200 Twin City Rapid Transit
*92
27
45*8 46
♦112*8 115
37*2
37*2
65*2
65*g
65*4
435s
43*8
43*4
95
♦94*2
95
♦4
4*4
414
*4
400
715,
*46*4
{70
3712
42*4
3,075
12*4
24U
95
80
113
*94
36%
47*4
28
93*8
400 Texas & Pacific
Third Avenue (N
15*2
72
♦92
93*4
79*4
J'ne12
65
preferred
47*4
94
34*s,
Do
707,
53
94
33*g
25*4
106
334
18
9*2
50
70*4
100
5*2 J'ne 17
26
J'ne 4
2d preferred...
Louis Southwestern._
Apr
198
'
129% Jan 10
33% Jan 11
J'ne25
Do
1,300 Seaboard Air Line
Do
preferred
3,825
50,370 Southern PacificXJo
9,400 Southern v tr ctfs stmpd.
Do
preferred
do
800
19*4
44*4
937,
3
2
Jan 11
•
Jan
145
Nov
129
1
10934 Jan 80
16878 Jan
J'ne 10
;84
J'ne 10
12% J'ne 10
2078 J'ne 10
2% J'ne 17
13
J'ne28
146
188
133
9
100
St Louis & San Francisco
Do
1st preferred
1,010 St
27*4
Mch
104
.
42
57,
18
♦46
33*4
9314
45*4
113
•33U
♦3*4
71^4
41
6
20
7*2
*44
100
100
*42
6
♦44
750
45
41
50
30*s
414
16*2
59
27*2 Jan
151% J'ne 10
86
preferred
2d preferred
"""loo
8350 Rock Island Company—
Do
preferred
7,700
43% Jan
100
1st
1*8*4
4
86*4 J'ne 10
J'ne 25
-
24
87g
106% J'ne
Pitfcsb Cin Chic & St L„
Do
preferred
*41
87g
*7
101% J'ne 10
—
*22
87S
82*4 Mch 17
Pacific
151*4 1527s 158,700 Union Pacific
Do
preferred
800
84% 84i2
United Rys Inv't of 8 F—
♦22
24
*8*8
•44
70*8
*20
3*4
8%
47
47
24
151*8 152*4
84*4
84*4
3*4
20
92*2
245,
79*4
15*2
35*2
*10*4
3*8
87g
50
70
12*4
3*8
3
271i
10412 104*8 *104
44
44
43i2
,,
237,
Northern
J'ne 10
98,
pref._
6,334 Pennsylvania
7
•66
12*4
•2U2
•22l2
17*4
29*,
4*4
70
6*2
lb",400
110
90
17%
95*4 J'ly 11
98% Aug 8
25% J'ne 11
158*2 15958 186,200 Reading
27
•11
40U
*100
19
79
•92
110
159*8 160*8
160*8
25% J'ne 10
35
J'ly 25
9
J'ly 17
Apr
15578 Feb
'
Aug
Oct
Oct
11% Jan
.
142% Jan
115*4 J'ne 11
133
J'ne 11 {150
Jan 22
29% Jan
7
18*s J'ne 10
52
J'ne 10
64% Apr 11
pref-
94% J'ly
85%
2034
39%
117%
30
2
Aug
Apr
395
56
9
9
N Y Ontario & Western1,160
2,270 Norfolk & Western
1133s
*897,
93
27
*1514
•4414
112
113
*64
1634
34l2
♦112
111
19%
79%
♦92
111*4
113*4 113*8
♦897g
93
30
132% Feb 7
2
23% Jan
!9
47
Jan 29
32
Jan
Feb
283
Jan
120-%
16%
63%
22%
28% J'ly 28
7
61% Jan
11% Feb 5
6
35
Jan
J'ne 9
11
J'ne__
J'ne 12
12
_
—
adjustment
65%Jan
91
47*2 Dec
9
132% Jan
3
41% Jan
1287, Feb 5
19% Jan 30
142% Jan 10
Missouri Pacific.
Do
2
6
32% Jan
49% Jan 30
41
Jan 30
168% Jan
2,335
22,110 N Y N H & Hartford
1055, 1055s
2
2
126*4 J'ne 11
127
preferred
Nat Rys of Mex 1st
Do
2d preferred
May
8*2 Jan
16% Jan
Oct
45% Dec
rieio
141*4 J'ne
N Y Central & H R
99
85
*
11712
159~
"""360
985, 100*8
30*s
30*s
*75
III
1107g 111*8
113*g
>
12
98*2
105*2 105*4
113
105
4*4
99*2
"7",000
3212
40
12
127g
98*8 9878
100*4 101
30*4
30*2
1003g IOH4
♦29*4
30
105*1 105*2
100*8 100%
315,
J'ne 4
21% J'ne 5
56
J'ne 11
preferred
Do
59
*28
"
Do
J'ly 11
45
7,300 Missouri Kan & Texas
23*2
4
J'ne 10
J'ne 10
J'ne 10
J'ne 10
J'ne 10
104i4 Apr 1
123$ J'ne 4
Minn St P & S S Marie-
145
23*2
*57*4
40
*12
13
*12
*138
32*4
*28
40
99
148
2312
J'ne
7
Minneapolis & St Louis,
Do
pref
40
J'ne 11
2034 J'ly 23
Manhattan Elevated
Jan 21
23
Lake Erie & Western
Do
pref
100
6
9
23% Jan
Jan 10
41
pref.
200
Jan
390
7,950 Lehigh Valley
1,150 Louisville & Nashville-
126*4 *126*4 127
♦138
150
*36
40
70
•23
31*4
100
27
•15«4
34l2
•17
25
20*4
150*4
♦19
•78
{2*4
734
4012
8»s
20*4
Do
9
94*4 Jan 16
8
167
Jan
445
Jan 13
10
Interboro-Metrcp v t ctf_
Do
prefK&nsa- City Southern—
9
11134
104%
148%
11178
68% Feb
15% Dec
30% Dec
99% J'ly
139% Dec
134i8 Dec
305
145
54
20*4
33*2
28*4
115*2
25*2
Illinois Central
86*8 Aug
76% Jau
220% Mch
116% Jan
Jan 30
133
Jan 11
May23 §1S9
May
5
preferred
Do
2d preferred
Great Northern pref
Iron Ore properties
*13034 Dec
*10U4 Feb
9
181
Highest
103% Feb
101-% Jan
9
22
1778 Jan
35
Jan
12
J'ne 12
1358 J'ne 11
1st
6
29
9
266*4 Jan
362
Jan 13
2
80
Jan
10
pref
Do
Lowest
Jan 10
9234 May26
J'ne
10
Jan
Jan
Jan
Jan
Previous
Year 1912.
88
J'ne
Hi
J'ne
38*4 Aug 1
90
Apr 11
147*2 J'ne 11
Erie
106%
102%
133%
106%
985s
132i2
123*4
pref
Do
J'ne 10
23
Delaware & Hudson
Do
4
10*8 J'ne
Duluth So Shore & Atlan
900
•65
42*4
91%
237S
36
6*2
12
29*4
60*2
♦26
43
300
27*s
27
91%
2334
♦41
9*2
51*8 j'ly 11
Chesapeake & Ohio
Chicago Gt West tr ctfs__
Do
pref trust ctfs
Chicago Milw & St PaulDo
pref
Chicago & North Western
Do
pref
CI eve Cln Chic & St L
Do pref
1.100 Delaware Lack & West1,100 Denver & Rio Grande—
27
,70
1912
"""416
36
*5*4
26*4
*584
"""206
1067, 107
15*4
16*8
58*2
59*8
23
Do
—
*59*2
{8*8
♦35
60
*
♦18
126*4 127*4
*140
♦57
♦80
♦80
88
38
28,550
2,760
845
47*2
47*2
*36*4
38*4
127*4 128*4
128*8
35*2 36
107*4 107*2
15*4
157g
58*4
587g
27*4
27*4
60
'
35,850
6,790
1,100
6,605
4300
5,420
10,200
12,750
1,600
287,
47*4'
38
45
♦36
23
159*4 161
89
*10*5
128
912
•812
23
*18i2
150i2 151*4
2312
15818 159*4
•1612
♦19U
•42l2
90%
60
109
109*2 111
1135s 1137g *112% 113ig
*89
93
*897g
91
♦85
•65
27i2
60
160
*12
98%
♦80
♦534
J27
59*4
2714
109"
10918 1091s
113I2 113%
•100
"l2"
100% 10012
♦29%
30
105
105%
106
58i2
45
23
32U
♦9712
98
1003s 101
595S
10l2
*28
•1614 "l2*4
107k
1273g 127%
58
"l2"
107
275g
25
*140
2212
31
31%
363g
*5
6*2
12
29*8
*10*8
29*g
47*4
200
150*8 151*4 150
150*4 151%
134
134
134
134
§13414 13414
13434 13434
130
*127
132
130
*126
132
*12714 132
*15
17
{16
16
14*4
14*4
»14l2
16
12314 12684
125% 12612
35
16'g
60
*36
•140
48
15*4
60
*812
47
15%
1512
58%
27%
•19
23
150% I6OI2
134
134l2
128
35%
36
106l2 107%
5912
29%
38*4
37I2
127*4 128i2
3734
126
29
20*2
*3314
37
*5
6*2
12
*10lg
29i2
47
4612
12512 125*4
3584
3534
10534 107
15%
153s
577#
585s
27i8
27*s
36
*5
612
12
*10%
*33
35*2
*3U2
200
90
20
20U
33*4
12",350
41
*
390
12512 125l2
132
41
90
*156"
45
149
46
158
45
149
*40
*
390
2914
4678
23
182
20
28
•18
*173
390
♦101s
59i2
130
31
*156
"
12
26i2
*28
19
28
59l2
32
395
159
♦Ids
278s
4434
67i2
2612
*28
19
♦3114
1514
14l2
30
56
14*2
*385
2014
3278
612
15U
1412
*13
55*4
♦137g
5514
9
J''ne 11
90*8 J''ne:10
77*4 J''ne:18
'ne:10
X8334 J'JI
208*2 J'ly 9
275
J'ne 11
Centra! of New Jersey—
*290
*280
56""
81
88*8
887,
215*4 216*2
*170
•3U4
•4U
81
8834
887g
214U 215*2
J''ly
96
pref—
13,100 Brooklyn Rapid Transit
27,250 Canadian Pacific
200
*173
♦18»4
♦14
89l4
*79
92% J''ne:12
112
Range for
Highest
Lowest
945 Atlantic Coast Line KR.
2,860 Baltimore & Ohio
97*2
130
395
2778
80
96*2
97*2
page
Range Since Jan. 1
basis of 100-share lots
On
Railroads
7,582 Atchison Topeka &SF..
Do
pre!
— —
2,400
121*2
130
♦156" 159" *156"
158
80
8812
21518 216
*280
60%
—-
29"g
97*4
♦7934
967g
*120
121
108*8
135*4 135*2
•34
105
121
129% 129*8
♦170
98
98
107
♦128
31%
97*2
97*4
130
129
♦126
96
99
1067g 10758
13514 13512
105
105
10434 105
13512 ♦1341s 13512
♦8%
9712
98
130
2834
♦134
105
97*4
98l4
130
31
♦34
97*2
98
1061g 1073S
135% 135%
♦13
13«*
133,
•28
♦5
Shares
130
5334
"
•385
August S
6514
6534
*137,
14*2
*287,
31
1077, 109*8
135*2 135*2
53»4
•128
88*4
Friday
EXCHANGE
97%
96 i2
*280
"5512
Thursday
August 7
120i2 121
215% 2165s
216U 217*g
21434 2163g
the
Week
Sales of
SALE PRICES
Wednesday
August 6
preceding
see
STOCKS
NEW YORK 3TOCK
■
175
As*
I
---•»{
120*,
:d
155
1
175*
170
West
Side?.'
450
—
275
Yorkvllle ?..
590
600
J
90
New stock.
I Full paid.
/ Ex 24% accuxn. dlv
New York Stock Record—Concluded—Page 2
348
For record of sales during the week of stocks usually Inactive, see second page
STOCKS—HIGHEST
AND
LOWEST
SALE
STOCKS
Sales of
PRICES
NEW YORK STOCK
EXCHANGE
the
Saturday
Monday
Tuesday
August 2
August 4
August 5
*109
112
*112
116
1103s 1103s
*110
12812 1285s
*218
230
230
230
599
99
*98i2
99i2
59812
98*2
20
*16
21
*16
21
77
*75
77
*75U
77
♦23*2
535U
*86*4
25U
*22U
2414
35l4
89
353g
*8614
36
36
89
589
89
♦43
44
*43
44
44
44
73
129
*126
27
♦25*2
I884
I8»a
*
50
■
*91"
127
27
24
237g
93*4 93*4
3978
4034
32
3134
132l2 132l2
*10*s
103s
67*s
67*8
9478 94?g
♦29
31
30U
31*2
3214
131
131
3H2
131l2 131*2
14
*36
38
14012 14012 *139
141
24*8
*25*2
185g
*93
103s
93*4
40*4
32*2
32l2
13278 133*4
10*4
10*2
65*2
*65
68
595
95
*9412
95
*12l2
14
14
14
14
*11
14
♦11
14
*36
38
*36
38
141
141
39*2
13134 133
lOU
65l2
130
2412
40*4
♦11
72
*127
24
93
39i2
14
35
7312
140'2 141
27
300
100
237g
93*4
405g
32
*3034
13134 13234
10*2
lOSg
67*2
67*2
CaJforma Petrol
Do
v
t ctt's.
3,000 Central
Do
500
Leather
_
preferred
dChino Copper
Par $5
Colorado Fuel & Iron
21,300
4,250
2.60Q
2,800
*94i2
95*8
310 Deere &
14
*13*2
14*2
200 Distillers' Securities
*11
14
*11
14
38
33
*34
38*2
141*8 141*8
140*4 1403g
Co
Do
Mch 27
16
pref.
preferred
1,278 General Electric
Nov
31
Dec
25i8 Jan
94*2 Mch
4138 May
41*2 Jan
Jan
'I
$34
7
105*2 Feb
53*2 Jan
8
6
98
Aug 7
J'ly 23
Aug 6
17
J'ne 10
z88
J'ne10
J'ne
Jan 9
J'ly 29
Jan 27
Feb
31
Feb
49
Dec
10234
2734
56*2
137*2
Feb
Feb
Feb
Mch
28
Nov
8
84
30*8 Feb
97*4 Mch
80
Feb
$25
Jan
10
Jan
75
Dec
13
J'ne 10
33
Mch 19
44
Jan
2
12934 J'ne 10
187
Jan
2
155
11*4 Feb
37*8 Jan
34
34
34
34
345g
Mayi5
345s Aug
8
30
77
♦76*s
77
77
77
750 Gen Motors vot tr ctfs
Do
pref v t ctfs
25
77
*32*2
*76*8
34
*75
400
70
May
C
79
Jan
7
*30
32
30
31
*30
32
*30
32
31
31*4
400 Goodrich Co
68
Jan
2
901s
♦43i2
90's
44i2
*90
92
91*s
*90
92
*90
25*2 J'ne 10
89
J'ne.O
70*4 May
60*4 Dec
.05*4 Jan
533$ Jan
7
105
Dec
9
$47
Dec
15
108
*104
4112
*6*2
15
108
91*8
*45
15
153s
108
4534
15*4
45*4
15*s
15*2
*104
♦23
27l2
24
♦80
88*2
*80
*102
108
45*2
46
15*4
15
15*4
108
109
*11312 115
115
109
10884 109
*112
*11378 116
*107
108*2 *107*2
115
*115
*112
115*
*113*2 115
*113*2
"*4"
*4
4
4*2
412
4*2 \ *4
4*2
17
18
*15
♦145s
*1458
18
*1458
16*4
1012
10l2
10l2
10
103s
103s
10*4
*9l2
42
42
42
*42
43
41i2
42*2
40i2
9
9
9
♦7
*6l2
5634
634
*6*2
♦1131a
*10614 108
116
4
4
*1534
*9l2
16*4
10*2
40*2
40
9
173g
10
40
*25
27
♦24
30
♦24
33
*25
33
8812
*80
88*2
*80
88*2
*80
88*2
*80
88*2
*102
♦102
*102
*102
67"
563
63
♦60
67
*61
67""
*62
67"
*63
67
98
*95
98
*95
.98
*95
97
*97
98
*97*4
98
*32
40
♦32
40
*32
40
95
95
*94
97
*94
96
*210
•109
112
'
♦109
♦26
2912
♦90
98
26's
*156
•106
107i2 *106
*67
70*4
*67
*
*
100
*58i2
26i8
2212
♦90,
107l2 5107
119
2212
22U
*11784 119*2
♦115
118
*115
13
*78
81
*47
48l2
1234
*78
48i2
*10512 107l2 *105
1234
118
118
*77
4812
48*2
10712 *106
16
1578
16lS
65
65
*60
67
16*s
7(jl£
68
68
70
70
22
2012
20i2
20*2
♦27
30
20*2
29*4
*28*2
82 lg
82lg
821S
30
11434
2484
♦24
2434
*94
99
*94
99
1
110
♦108
110
*108
•152
154
*153
155
153
*25
26
*25
26
*9112
183s
97
•91l2
186s
97
I8S4
*47*2
49
*105
108*2
16*2
*60
67
70*2
71
71
*70
72
2212
♦21*4
22
*2114
22*2
29
*28
29*4
19
85
28
28
114
114
19
18*2
245s
*91
8734
*86
88
18
*16*2
1778
97
193g
1934
39
39
173
173
34
*32
34
3334
61*2
*32
34
31
110
94
*85
111
87
3034
*82
31*8
112*2
63
627g
24
*22i2
*82i2
3034
86*2
31*4
305s
13
94
*87
94
*87
94
*10414 111
*105
*104*4 111
*5
5
5i2
5
5*8
*25
25
26l2
25
25*4
111
*105
111
*105
111
*11
13
12
t
*47
48i2
48
48
*47
.
*60i2
5978
6H2
*60
62
61
60
60*2
597g
5934
104
*104
j *99
102
♦64
68
(07'
48*4
2534
107*8
498g
2534
5100*2 100*2
*63
62
62
62
•110
114
*109
12
67
6234
115
92
*89
92
*10914 114
*109
114
60*4 6134
107*4 1073s
49*2 4978
25*4
*99
65*4
63*2
5
5
25
*11
5
.5*4
*23*2
26
*24*2
26
13
*11
13
12*2
*11
48
62
62
61
61*4
104*4 104*4
49
49
*48
49*2
61
*61*2 62*2
*61*2
61
61
6078
61
104*8 1048g *103*2 104*2
"6i"
"61*4
02'"
107*4 10734
4938
497g
26
26*8
,623s
108
108
50
493g
26*4
26*2
10778 108*8
26*2
50
51
26*4
26*4
98
100
*96
100
98
98
66
67
67
*66
70
*66
70
64*4
64
64
64
114
*111
114
*90
91
93*2
*109
*109*2 114
114
63*2
115
91
91*2
*109
63*e
*111
64
*90
92
*109
114
J'ne 11
8
90
167
103
J'ne 10
116*2 Jan 22
66
Feb 20
104
J'ne 11
116
J'ne
4
7678
105*2
78*4
26I2
128*2
1247#
9
J'ne
5
19*4
75
May29
92*4
44
J'ne
9
100
J'ne
6
__
97*2 J'ne 10
55
J'ly 18
2038 J'ne 10
34
preferred
Sfamp'g
*
56*4
107s8
20
Jan
2
8212 Jan
8
16
J'ne 10
8U2 Jan 14
31*2 Jan 22
Teiep & Teleg...
23
J'ne 11
46
Jan
1,300 People's G L & C (Chic).
104
J'ne 10
116
Jan
200 Pacific
5C0 Pacific
Mail.
Do
_
Coal
14i2 J'ne 11
preferred....
Do
73
.....
Do
300
preferred...
Roebuck & Co
lr
Milling
Do
preferred.
500
200 Studebaker Corp (The)
Do
200
preferred
;—
6,200 (/Tennessee Cop. .Par $25
9,200' Texas Company (The)..
Underwood Typewriter.
Do
preferred
600 Union Bag & Paper..:
Do
preferred
300j
400 U S Cast Iron Pipe & Fdy
Do
295
preferred1,000 U S Realty & Improv't..
....
—
,
_
3,525 United States Rubber—
700
Do
1st
Do
2d preferred
preferred
Do
Union Teleg
1st
"""800
preferred
(F W)—
preferred
Woolworth
Do
BANKS AND TRUST COMPANIES—BANKERS'
6234 Apr
$23*8 Feb
114
Dec
90*2 Oct
$30*4 Sep
161
Apr
122
Deo
131
Jan
2
Feb
88
518*4 Jan
Feb
50
74i2 Jan
28*4 Deo
45
Dec
103
Jan
-
92*4 Jan
9934 Jan
213*2 Jan
Feb
Feb
10934 Feb
158*2 Feb
27i2 Feb
98*4 Dec
Jan
$15
1534 Feb
64*2 Feb
89*4 Dec
99*j Dec
7
4
2
4612 J'M* 28
40i2 Jan 31
140
6678 Feb
4
30
6
30
Feb
93*4 Jan 13
39*2 Jan
4
78
J'ne 10
12234 Jan 10
99*2 Jan
3'
104
J'ly 10
113
Jan 21
4*8 J'ne 11
7'4 Jan
3
J'ne 25
4l3,i Jan
3
90i2 J'ne
Dec
110
J'ne
13
5634 Jan 31
50
Jan
77
67
Jan
1634 Jan 30
9
53
J'ne 10
69l2 Apr
4
98
J'ne 10
10934 Apr
9
102i2 J'nfelO
39&a J'ne 10
"22
J'ly
1
93
J'ne 30
6358 J'ne 10
10778 J'ne 13
81*2 J'ne20
109
J'ne 14
81*2 Jan
9
69*8 Jan
2
11034 Jan 30
6058 Jan
2
43*8 Jan
3
114
Jan
3
76*8 Jan
79*4 Jan
9
2
11934 Jan 17
112
Jan
2
115*2 Jan
8
Deo
66
Oct
Ma#
Sep
j'ne
Sep
May
May
May
Oct
J'ly
May
116
May
85*2 May
4514 Feb
1055<» J'ly
Jan
S8I4 Feb
107*4 Dec
552*2 Jan
40*4
11478
71*4
66*4
49l2 Aug
36
98*8 Aug
Feb
75
NOV
6J34 Sep
$4714
130&8
11534
114i2
1778
6734
22*2
6438
86*2
6778
45g Jan
35*8 Deo
59*8 J'ne 11
Oct
Not
103*2 Oct
221
$341? Feb
81
Jan
9*4 J'ne 10
44*8 J'ne 6
Jan
35
J'ly
95
Oct
933g Oct
101
Jan
3914 Jan
I6I4 Jan
53
Jan
J'ne
95*2 Jan
68*4 Oct
11078 NOV
$24*8 Sep
85
Nov
877« Aug
38
Sep
653g Apr
12212 Oct
27*4 Aug
10034 Aug
4078 Sep
10334 Aug
1207a Aug
175
Aug
4034 Sep
105
Aug
524*3 Sep
51*8 Jan
105*2 Feb
283a Jan 31
89U Feb 1
J'ne 10
3
26
I2i4 Feb
Jan 13
89
58*2 j'ne 10
4,100 Wasting-ouse El & Mfg.
Do
100
7638 Jan
...—
500 Western
90*4 J'ne 10
15
J'ne 10
4978 J'ne 11
preferred.—
24,200 dUtah Copper—Par $10
1,300 Virginia-Carolina Chem:
Do
preferred
300
4,540
9
"
United States Steel
Jan
77
2
22
......
Oct
112
96
Jan
Aug
88
Dec
28*4 Feb
22
118
Apr
Jan
Jan
J'ne 10
J'ne 11
215*2 Oct
Jan
Jan 21
17
1053s NOV
9234 Oct
Mch
36
35
1434 J'ly 15
36
J'ly 1
15434 J'ne 12
23
J'ly 8
3178 Apr 26
5212 May 1
2184 J'ne l2
82i2 J'ne 17
x2684 J'ne 10
J'ly
95
165
Oct
Aug
47*s J'ly
69
101*8 Jan
118
Oct
118
Dec
1634 Mch
J'ne 10
72
Do preferred
Rumeiy Co (M)
4
225
Jan
105
243a Jan
22*4 J'nrli
152
_
400 Sears,
J'ne 11
18*2 J'ne 10
88*2 J'ne 10
109
J'ly 11
preferred.
Pub Serv Corp of N J
"""BOO Pullman Company
700 Railway Steel Spring.
Do
preferred
12",900 (/Ray Cons CopperPar$10
Republic
Iron & Steel
3,025
50
_
9
Dec
10734 Jan
_
J'ne
Mch
Jan
Jan
102i2 Oct
Jan 2
Jan
Feb
Jan
Jan
Jan
Jan 30
Jan 30
Jan 2
Jan 27
60
115
92
114
116*2 Jan 23
3978 J„»n
6
J'ly 16
"611*8 ~6_23g 311",656
102
♦111
*110
5*4
48
48*2
6134
61*2
10414 *104*4 105
69""
1087S 1087s
4.71a
48U
25
25
31
*85
94
'
5i2
2612
83
6
9
64*2
24*2
1153s
29
102*8
156'g
105i2
36*2
_
Mch
Jan 28
*60
82l2
235
Jan
*23
30i2
497* Feb
104*2 Jan
6
Jan
63
114
7
4
95
24l2
86l2
3078
116
89*2 Oct
10512 Oct
55*2 Sep
10334 Jan,
105
300 Standard
115
Oct
200
35
110*4 114l2
10J
Sep
Aug 4
J'ly 18
*33*4
33*4
Dec
71
100
J'ne 13
100 Sloss-Sheffield Steel &
27*2
107
Feb
Jan
84
27*2
29
Jan
81
102
J'ne 10
300
40
110
13
1,650
175
*27*2
33*4
10734 Jan 22
58
J'ne 9
97
J'ne 10
56
177g
175
9534 Oct
89
3,300 National Lead
Do 'preferred
200
4,225 (/Nevada Cons Cop Par $5
lOOi New York Air Brake....
600' North American Co (new)
25
*37
86l2
Do
100
87*4
40
84^8 Apr
Dec
*150
...
900 Nat Enamel's &
Do
preferred
150
24*2
29
Dec
^
700 National Biscuit
.87*4
174
Dec
90
21
preferred
2,010 Mexican Petroleum
Par $5
3,850 tfMiami Copper
*16*2
174
109i2
Do
110
19*2
247g
12
63
Feb
ctfs
May Department Stores.
Mch
1934 May
«27„ May
Jan
195
preferred.
♦108
♦37
3038
2d preferred
110
*27
*85
1st
Do
1,800 Pressed Steel Car
40
103
Do
1,500
19*8
co
Lorillard Co (P)
Do
preferred
112
8434
29
237S
100
99
97
7VS Mch
26
153i J'ly
938 Jan
x4578 Jan
94
106i2 J'ly 22
300 Loose-Wiles Bis tr
Sep
521's Oct
1267S Sep
70
May 5
297a J'ne
91
J'ne
J'ne
com
preferred
25*2
2434
*59
Do
*95
172
24
"217
*25
172
*82
(St L)
Liggett & Myers Tobacco
99
*37
5958
500 Laclede Gas
25*2
*26
24*2
"16O
preferred
Lackawanna Steel
Sep
J'ne 11
6
83
Do
84*2
29
595s
*2212
♦8U2
50
*96
*91
J'ne 12
81
100* 2
Mch
4
Aug
c$62-3s j'ne
"
84l2
*25*8
8434
10834 J'ly 29
113*2 May 7
4&S Jan
2
19i2Jan 7
12&8 Jan 30
48*2 Jan 30
18*2 Jan
9
Oct
Dec
22*4 J'ne 13
Pump
preferred
Kayser& Co (Julius)
Do
1st preferred
Kresge Co (S S)
255g
175
24i2
86i2
Do
Mayl2
36
99
*23*2
63
50 Internat Steam
100
1,700 Pittsburgh
28
3334
61l2
*22*2
preferred
18*2
19*2
94
*89u
16*2
67
19*2
24l2
8734
*16*2
30i2
10712
**5812
16
16*2
♦60
♦91*2
*85
i *11
48*2
107*8 107*8
1938
2478
107
*25
48*2
19*4
237#
18
■
84
97
87
♦104
50
*80
97
*91
17
30
82
*108
87
*8H2
*80
*152l2 153l2 §1533g 153*2
26*8 2612
26*2 26*2
17
j *59
! »2212
80*2
26l2
87
*32
22*2
119*2
110
.24
39
22l2
*118
5912
153
17
39
118
z59~
153
24
*168
60*2
225g
14*2
19*4
600
71*2
100
*25
86
40
*68
*
*108
19
180
22l2
118
1658
Do
J'ne 10
3
115&8 Jan 30
110
J'ly 29
113*8 J'ly 10
27g J'ne 10
12i2J'ne 4
7*2 J'ne 10
International Paper
96
107*2 107*2
71*2
100
"66"
67
84*s
25*8
,
117*2 117*2 *115*2 119
*13
15
*1212 14
106
*95
95
*85
107*2
*67*4
*_•
118
*92
26*2
2412
,
70
1093g 1093g
*28*2 29
15384
8612
28
107*2 *106
19
97
220
*155
1145s 11434 *114*2 115
255s
98*2
*23
*37
96
29
2938
♦8512
•16ia
♦169
95
*161
*21
110
26*2
19
*92
*74
100
70*2
195s
85*2
2434
598*2
•108
29
16*2
114*4 11434
19*4 i
I9
82 *8 U'83
*24
*27
*61
*68
♦16
106
1638
*20
114
28*2
13*2
80*2
*48*4
49*4
107*2
67
19
109*2
100
*116
81
16
♦16
*108
61*s
22*2
2258
11734 11734
13*2
•60
11414 IHI4
i09~*2
37*2
37*2
*96
*215
9634
♦56"
225s
118
♦115
13*2
81
38
230
♦67
*
61
22*2
118
*106
70
100
"60
60
*35
*215
9634
*158
107
*67
*
•115
♦1212
*90
100
*156"
7014
38
9634
: *215
109*4 109*4 *109
28*2 28*2
28*2
100
560"
60
2212
109*2
89
♦156
♦33
*210
"766
96
111
Feb
$163s Dec
105*4 Feb
203s Jan
95*2 J'ne 10
111
M a v12
preferred
200 Int Mer Marine stk tr cts
Do
pref stk tr ctfs
*102
*62
Harvester of N J
preferred
Do
934
*6*2
24
♦97
*210
Do
4034 J'ly 11
14ia J'ly 12
10334 Apr 25
Internat Harvester Corp.
~
*11134 115
4
1,000 (/Guggenh Explor Par $25
3,600 a Insp'n Con Cop Par|20
lnternat Harvester fold)
600 Internat
*107*2 109
*11134
109*4 ♦10612 108
Do
200
92
45*4
Aug
Oct
Sep
Sep
188*2 J'ly
4278 Sep
8234 Sep
J an
*31
45
149*2
22*8
8312
10014
3014
2134
5234
Dec
20
77
445s
72io Oct
99*8 Dec
21-84 Jan
2
18
Jan 22
Oct
9512 Oct
10U2 Deo
33°8 Sep
1001? Oct
$5038 NOV
43-34 Sep
13534 Dec
.
79*4 Jan 31
100*8 Jan 16
Oet.
Aug
J'ne
Sep
Aug
40*s Apr
23*8 Feb
41*2 Feb
142-% Jan
I7i8 Jan 31
Oct
80
16*2 Feb
47^8 Jan
May
119
Dec
33
(B F)
preferred
127*2
6034
108*8
5D8
9978 Dec
6
77
31i2
9H2
44i2
15
$48
49*4 Dec
5612 Feb 3
Jan 30
86
103&8 Feb
24*2 J'ne 10
125*8 J'ne 10
73a J'ne 10
61*2 J'ne 10
94is J'ly 8
984 J'ne 10
Corp
Federal Mining & Smelt'g
"""166
25
3038 J'ne 10
Consolidated Gas (NY).
Corn Products Refining.
Do
preferred
;
400
J'ne 10
45
preferred
Case(JI)ThreshMpftr cfs
18
79
2
105i2
41*2
73*2
13778
62*4 J'ne 10
121
Sep
3
120
100*4 J'ne 25
25
J'ne 10
124
149's Mch
32412 J'ly
1063s Jan
Jan
32
103s
;
"2",820
98
2234
3078 J'ne 10
87
J'ly 8
J'ne 10
,r40
133i2 May
32*4 Jan
81
Aug
77
♦147s
,
18*2
46*2
40
16
*
Locomotive
J'ly
16*s J'ne
May
preferred
3,410 Bethlehem Steel
Do
preferred
1,315
100 Brooklyn Union Gas
Butterick Co
18
*93
Realization
96
29434 Jan 10
106*8 Jan 27
21
Apr 17
74
Do
100
46l2
*91
Woolen
J'uc
Highest
113i2 Dec
115*2 Jan
1375s Jan
241*s Feb
101*4 Jan
11638 J an 28
Jan
3
140
12512 J'ne
Previous
Lowest
Jan 31
118
110*8 J'ne
200
ots
Highest
33
♦3i2
1
27
100-sftare
for
Year 1912
77
*112
!
*2512
of
xcyii.
.1
Range
1
33
•11312 115
•105U 108
;
15 Assets
130
*128
basis
104s4 J'ne
preferred
5,400 Amer Writing Paper pref
9,500 a Anaconda Cop Par $25
200 Baldwin
*100*2 106
35
357g
35*2
71*2
71*2
72*4
1834
93
38
104
98
2384
•36
104
47
93
*11
45
45
16
3912
9434
1414
89
3534
130
36*2
*44
47
235g
945S
♦12l2
35
*72
1734
*87
Industrial & Misc (Con)
1.410 American Sugar Refining
Do
preferred
i',590 Amer Telephone & Teleg
1,600 America* Tobacco
125
Preferred, new
Do
36*4
89
*91
38
1414
33*2
On
Lowest
Amer'can
18
*44
*86i2
98
93
*13U
19*2
36l8
89
48
2314
10i8
21*2
16
98
3784
67
77
*47
92*2
10
21
*75
44U 4414
*10338 104
*127
2312
*65
*1612
77
1918
*91
1038
21
*75
*99
20
98
48
98
65i2
9434
9978
*16
-
99*2
232
48
49
6512
*94l2
232
27
27
♦10
129
*25*2
18*2
*2512
18l2
18l2
116
129
3638
3578
*86*4
127
*2234
92l2
37U
*106
'
130
98
*4334
♦1434
:
2312
36*4
•91
*90
*
19i2
*110
116
2297g 2297g
993g
*9834
77
21
Week
Shares
12 8'4 129
*110
235
99*2
*16*2
*75*4
*1033s 104
*10334 104
34
35
34i2
355g
73
73
7234
7312
34
♦72
*126
♦30
;
*230
^
Friday
August 8
1097g 110
110*2 110*2
115
1285s 12834
235
♦75
•
i
230
♦16
*25*2
*1812
i
♦112
115
1288s 51281s 1281s
•33U
1
*110
Thursday
August 7
110*2 111
110i2 IIII4
115
*128
♦1038s 104
,
Wednesday
August 6
Since Jan.
Range
v.
[Vol*
preceding.
8034 Sep
117
Sep
$67*2 Sep
Dec
67i4 Jan
122
Dec
Deo
Mch
86*4 Jan
891? Aug
126
Aug
1I778 Oct
11634 J'ly
Jan
1147g Jan
112i2 J'ly
93i4J'ly
QUOTATIONS.
'
Banks
Bid
Ask
Banks
Brooklyn
Coney Isl'd !
135
155
First
280
300
Flatbush
...
Green point.
1115
—
-
*
125
85
100
400
425
Mechanios'J.
175
Montauk
Nassau
National City
North Side!.
275
285
Central Trust
175
200
Columbla-
People's
145
155
....
205
Trust Co's
Bid
Trust Co's
.
Empire
985
1000
570
580
83
Bankers'
Tr.
420
,'425
B'way Trust.
150
160
1150
210
220
Fulton
290
315
Guaranty Tr.
535
545
Fidelity
140
Ask
Hudson
130
140
Law TI & Tr
165
175
NY Trust...
590
Lincoln Trust
120
130
Title Gu & Tr
420
220
Hamilton
Metropolitan
ance
_
Ask
N Y Life & Tr 1000
Trust Co's
Brooklyn Tr.
470
610
Citizens'
145
425
Franklin
410
Transatlantic
200
Union Trust.
375
390
127
137
U S Mtg & Tr
445
United States 1090
1110
140
150
Washington
Westchester
_
_
Bid
Brooklyn
1010
Home
455
„
....
.....
285
108
118
Kings County
530
130
..
365
People's
145
155
Queens Co
....
155
240
270
Nassau
350
490
_
285
295
103
..
•'
'fw*
ai*J asked prices: np sales on this day.
§ Less,than 100 share3.
J Ex-rights,
.wook Exohange or at auction tkla
week,
s Ex-stock- dividend.
Banks marked with
Bid
390
Mut'l
(West¬
chester)—
Trust Co's
NY City
Mutual Alli¬
480
Farm L & Tr 1050
220
92
300
Equitable Tr.
345
Bid
Trust Co's
NY City
Knlekerboc
Commercial
NY City
Astor
As*
N Y City
155
HiilaldeTI
.
Ask
Brooklyn
_
Homestead K
Manu/act'rs
Bid
Ex-dlv. and rights,
b New'stock.
d Quoted dollars
paragraph (V) are State banks. s Ex-dlvldend.
-
a
a
_
_
per
share
t Sale
-
.
349
Exchange—Bond Record, Friday, Weekly and Yearly
New York Stock
quoting bonds was changed, and prices are now
Jan. 1 1909 the Exchange method oj
Price
Week's
Rangt
Frtdav
August 8
Range or
Since
BONDS
Y.
STOCK EXCHANGE
Week Eliding August 8.
U S 3s coupon
192B
......
No.
1925
U 8 Pan Canal 10-30-yr 28 *1936
U S Panama Canal 3s g
1961
99
100
98
*1913
.
U S 4s registered
U 8 4s coupon
High
9812 Aug'13
»95% J'ly '13
1013* 102l2 IOIS4 J'ly '13
102%
102% Sale 1021s
110
111% llOU
110%
110
11112 110 J'ly '13
9712
95i2 J'ly '13
99%
99l2100% 99%
07%
Low
High
9534
«95%
10134
10134
101%
101%
103%
10334
110
114%
110
114%
95% 100%
24
I
Imperial Japanese Government
Sterling loan 4^s
1925
2d Series 4J^s
1925
Sterling loan 4s
f g 5s of
Gold 4s Of 1904
t 8412
J
1899
1954
State and City Securities.
N Y City—4 Hs
i960 M-S
i)
4% Corporate stock
4% Corporate stock
4% Corporate stock
New 4 Ms...
-
..1958M
1957 M
1957 MNew 4Mb
.1917 M
4K% Corporate stock
1957 M
*
1961
Wl
1960
J
J
99
Registered
Adjustment gold 4s
Registered
Stamped
•
•
j
f
95% Sale
10-year conv gold 5s
1917
1913
J-D
8478
85i4
99i2 May'13
97% Sale
973s 98
9974 Sale
97%
98
99%
9978
42
89%
..
98
83
88%
86
86
83
88
98
98
105%
93%
107
103% 103%
87
95%
16
95
106*4 Feb '13
95
Aug '12
95
106*4
101
91
91
*92i4
1933
1922 j"-"j"
P JuncA M Div lstg3Msl925 M-N
PLE&WVa Sys ref 4s_.1941 M-N
Southw Div 1st gold 3 Ms. 1925 J-J
Cent Ohio R 1st c g 4 Ms..1930 M-S
CI Lor A W con 1st g 5s..1933 A-O
Monon River 1st gu g 5s__1919 F-A
Ohio River RR 1st g 5s
1936 J-D
General gold 5s...
1937 A-O
Pitts Clev& Tol 1st g 6s
1922 A-O
Pitts A West 1st g 4s
1917 J-J
Stat Isl Ry 1st gu g 4 Ms..1943 J-D
Buffalo RAP gen g 5s
1937 M-S
Consol 4 Ms
1957 M-N
A11A West lstg4sgu
1998 A-O
CI A Mah 1st gu g 5s
1943 J-J
Roch A Pitts 1st gold 6S..1921 F-A
Consol 1st g 6s
.1922 J-D
Buff A Susq lstregg4s
dl951 J-J
20-yr conv 4Mb
Pitts June 1st gold 6s
90%
Sale
'"56
92%
792
91%
Sale
105
...
112
Jan '12
82
86
86
May'13
8212
83%
82% J'ly '13
87%
87%
100
10112 105
lOO' IIII
106%
102%
103%
105%
94
J'ne'12
91
101
106
104
Aug'13
..
103% Apr '13
9534 Mch'13
..
103
10814
105
1047S 105i2
A-O
F-A
10034 Jan '11
110% Mch '13
102%
102% 103% 102%
106% Mch'13
g 5s
pref income g 5^
pi945 Oct
pref income g 5s stamped—
3d pref Income g 5s
pl945 Oct
3d pref income g 5s stamped
2d
103
Dec '11
105
96
Dec'11
Nov'11
107
Dec'11
2d
90
82
1951 J-D
1946 J-J
1947 J-J
.1946 J-J
97i2
9712
Mobile Div 1st g 5s
Cen RR A B of Ga col g 5s_1937 M-Nl
Cent of N J gen'l gold 5s__.1987 J-J
t-3
Am Dock A Imp gu 5s...1921
Leh A Hud R gen gu g 5s_1920 J-
.
.
.
...
103"
103
~80~%
...
80
101
97
110%
10434
95*4
9534
107% 110%
108% 11178
48
38
104% 106%
IIo"
110%
102
109
106% 106%
.it.
85% Oct '10
Feb'13
90
...
90
107% Jan '12
115
Oct
64
54
55
53
98%
9934
82%
83
8334
83
9834
9234
99*4 1013s
112% 1193s
112% 118%
10
114%
112%
103% J'ne'13
100
J'ne'13
103%105%
100% Jan *13
83% J'ly *131
100% 100%
100
83
100
90
101*5
8434
86
8434
93%
88
88
'10
68""
64"
83
82%
85%
93%
98%
93
93
63%
100
98
83
94
J'ne'13
10338 103%
9634 J'ne ,13
9634
99%
94% Aug '13
93
97
97%
97%
IIII"96
"97* III.
104
"99%III.
92
86
88
71
105% 105%
100
99% 100%
90*4 99'
13
55
88
253
1033s
103% 101% J'ne'13
99%
99%
99% Sale
May'13
100% 1033s 103
104% May 13
102
J -J
102
10134 102
88*4
8834 Sale
100
105%
109
J-D
.
J-J
J-J
M-S
F-A
M-S
J-J
M-S
M-S
Mil Spar &N W 1st gu 4s_1947
Northw Union 1st 7s g...1917
Winona & St P 1st ext 7s_1916 J-D
Chicago Rock Isl& Pac 6s_1917 J-J
Registered
1917 J-J
General gold 4s
1988 J-J
Registered
1988 J-J
Refunding gold 4s
1934 A-O
20-year debenture 5s
1932 J-J
Coil trust Series L 4s
.1914 M-N
...
110
85
,
"86" "91%
100
106%
104%
104%
104% 106%
101% 105%
102
24
89
997t
99%
103
94
85
J
100% 101 I
106
110%
J'ne'13
110
100% 102% 102% Apr '13
100% 1033s 101% J'ly '13
10934 Feb '13
105%
100
May'13
100% Aug '12
103% J'ly '13
10284 104
,110
102% 102%
101
104%
10934 109%
100%
100
103" 105%
95% May'13
95%
96
i
91
93
96
96
96
1
81
82
81%
81%
84*4 j an '13
78%
85%
"95%
Sale
91%
Jan '13
94%
95%
22
105%
...
10934 Aug '12
May'13
104% Oct '12
104
100
84
84%
92*4
98%
111*4 Nov'll
106%
104% 101
♦98
....
101
104
J'ly '13
99%
105
j
loY"j
Dec
100%
10034
100*4
10734 Aug'11
100% 107%
ii4% i:
117
II?"
121%
107%
107%
114%
113%
88%
112%
107%
114%
113%
94 1
69%
J'ne'13
90% Sep '09
69%
..
109% 107% Jn'e'13
107% 107% Feb '13
114% Feb '13
113% Mch'13
109%
91
88% J'ly '13
107
102
109
...
106%
105%
....
115
J'ly '11
108% Mch'13
108% 108%
103% 106%
103% J'ly '13
109
Aug '10
8634
87%
87% Sale
103
....
106
84"
"94%
78"
89~"j
72
90
49%
63%
66%
63% Jan '13
85
85
91
"79"" "79"%
7834
78%
59% Sale
Chic R I & Pac RR 4s_.—2002 M-N
..2002 M-N
100
100
103
95
100
....
98
Keok & Des Moines 1st 5s.1923 A-O
St Paul & KG ShLlst4^s'41 F-A
102
Dec '12
79
80%
07% Sep '11
9434 j'ne'll
58
69*8
80% Sale
1918 M-N
M-S
A-O
A-O
J-D
J-J
M-N
98%
79
100
236
100% J'ne *13
106
J'ne'13
...
97
J'ne '11
103% Sale 102%
J-J
77%
116% 125
103
J-J
105%
Dec '11
J'ly
88
Sale
98
97%
IOO"
98% Feb '13
80% J'ly '13
IIII *79%
1
106% 106%
J'ly"
100
92
.
4)^s_1934
5s...1934
C R I F & N W 1st gu5s_1921
M & St L 1st gu g 7s
1927
Choc Okla & G gen g 5s
ol919
Consol gold 5s
..1952
108
...
Registered
General 4s
:
1987 M-N
Sinking fund 6s....1879-1929 A-O
Registered
1879-1929 A-O
Sinking fund 5s.
1879-1929 A-O
Registered
..1879-1929 A-O
Debenture 5s
.1921 A-O
Registered
1921 A-O
Sinking fund deb 5s
1983 M-N
Registered
1933 M-N
FremElkfc Mo V 1st 6s__1933 A-O
R I Ark & Louis 1st
Bur C R & N—1st g
119
97
97*4 Feb '13
106%
80
70
107
13
72%
72% 72% 72%
116% J'ly '13
115
108
105% Feb '13
90% 95% Apr '11
80
85
J'ly '12
91
90% Aug '12
1987M-N
,.pl987 Q-F
Ext & imp. s f gold 5s..1929
Ashland Div 1st g 6s
1925
Mich Div 1st gold 6s_._1924
98
99% 100%
90% 96%
29
93%
J'ly '13
J'ly '13
J'ly'13
106% Jan *13
1886-1926 B-A
1886-1926 F-A
ManG B & N Wist 3^s 1941
Milw & S L 1st gu 3
1941
Mil L S & West 1st g 6s__1921
70
107
98% 100
----
.1915
92%
93,
....
Apr'13
160
J'ly '13
R)7% May'13
105% Sep '11
96
81
79%
96
J'ly *13]
J'ne'13
J ~D 41334 115% 115
89% Dec *12
J-D
98%
99%
"99% ioo
1930 M-S
113
119% Feb'13
Oh St P & Minn 1st g 6s__1918 M-N
113
129% May'09
North Wisconsin 1st 6s__.1930 J-J
106
108% 106
J'ly *13
St P & S City 1st g 6s__..1919 A-O
96
Superior Short L 1st 5sgpi930 M-S
107% J'ne'13
106%
Chic& West Ind gen g 6S..31932 Q-M
87
84% J'ne'll
Consol 50-year 4s
1952 J-J
64%
87%
997g 100%
Jan *13
Debenture 6s_,
|
107% 108%
99% May'13
106
Sale
Chic St P M & O con 6s
.1930
Cons 68 reduced to 3Hs—1930
Nov'06
100%
9734 May'13
71%
108
1921 J-J
1920 J-J
Registered
99%
92%
85%
50
100
1919 J-J
7s.
85%
1033s Feb '13
"98" III'
J-J
1913
cons
101"
79
96% Sep '12
1913 J-D
Registered
91%
99%
86% Aug 12
94
J-J
J-J
1916 J-J
Dubuque Div lsts f 6s...1920 J-J
Far & Sou assum g 6s
1924 J-J
Extended4Hs
j
J'ly '13
98% May'13
93
97
|
110
64
94
ido% III
Dak & Grt Sou gold 5s
P 4s_
....
100
1941 M-S
4s__el920< Q-P
89%
90%
90%
96%
90
113i2 114i2 114
112
11534 112%
N Y A Long Br gen g 4s
97%
103% 103%
97%..., 10934 May 11
100
9934 J'ly '13
102% 104
97
106% 106%
105
A-O
90%
9771
100
45% Apr'13
4834
88
82%
86%
J'ly 08
107% J'ne'13
108%
108%
10634
91*4
"86*
Apr 13
Mch'13
J'ne'12
Apr '13
Apr '12
91
91
88
89%
91%
88%
113% Feb '12
97
May'13
105
104
14
91
89% J'ly '13
90%
91
91*4 May'13
90i2
95
67
94
M-S
J-J
Chic & Mo Riv Div 5s
1926
Chic & P W 1st g 5s.....1921
C M & Puget Sd 1st gu 4s.1949
Wis Vail Div 1st 6s
Mil & No 1st cons 6s
12
Mch'13
82%
J-J
J-J
J-J
J-J
J-D
J-J
J-J
Q-J
J-J
J-J
J-J
1932 J-D
La Crosse & D 1st 5s
Wis & Minn Div g 5s
88% Oct
87
....
-.---
Convertible 4^s
Convertible 4 j^s (wh issued)._
Gen 4H_s (wh iss)
___e 1989
Chic Sc L Sup Div g 5s...1921
.
13
89
80
,102
39
01*4 Mch'13
8434 J an '13
86
J'ly "13
"86% "89"
1947
1917
Ind & Louisv lstgu 4s
1956
Chiclnd& Sou 50-year4s
1956
Chic L 8 & East 1st 4Hs
1969
Chic Mil & St P termlg 5s_.1914
Gen'l gold 4s Series A
el989
Registered
el989
Gen" gold 3^s Ser B.__el989
el989
Registered
25-year deben 4s.
1934
.
General gold 3>£s
11038 May'll
97
Oct '12
...
Sale
87% Sale
1945 M-N
1945 M-N
pi 945 Oct
92%
123% J'ne 12
92
Registered..........hl94» Q-J
86%
"li
85% Feb
High
95
103
93
99% Mch'13
79%
87
Low
\
.
...
Chic & Nor West
Extension 4s
*88%
~99 "
.1937 M-N
1942 F-A
...
Refunding gold 5s
Refunding 4s Series C
105*4
9278 103%
107
903$
~88% Sale" *88%
hl925 Q-J
gu g
98%
105
113
897|
Cent Vermont 1st
7978
81%
1937 M-N
Registered
...
..hl948 A-O
hl987
Registered
101*4
Oct '06
98
8512
101*4
92%
92%
79
Chic& IndC Ry 1st 5s_._1936
Chic Great West 1st 4s
1959
Chic Ind & Louisv—Ref 6s_ 1947
85% 92
96% 100%
Feb *13
90%
903s
Ioi%1033;
101%
70
"79% "79"%
M-N
M-S
g_1955 J-J
1934 A-O
Pur money 1st coal 5s
86
92~
88i2
97%
.
101*4
93
J'ly '13
88i2
General 4s
Chic & E 111 ref & imp 4s
1st consol gold 6s
105%
69
93
M-S
No,
High
"92"" "94%
1913
1958
Debenture 5s
Range
M-S
See Great North
Joint bonds.
General consol 1st 5s__
"99
Ask Low
.
102
99"
Jan. 1
M-N
1944 J-D
gu 4s
1945 J -D
Craig Valley 1st g 5s
1940 J-J
Potts Creek Br 1st 4s
1946 J-J
R & A Div 1st con g 4s
1989 J-J
2d consol gold 4s
1989 J-J
Greenbrier Ry 1st gu g 4s_1940 M-N
Chic & Alton RR ref g 3s__1949 A-O
Raihuag 1st lien 3Hs
1950 J-J
Chic B & Q Denver Div 4s_1922 F-A
Illinois Div 3Hs—
1949 J-J
Registered
1949 J-J
Illinois Div 4s
1949 J-J
Registered
1949 J-J
Iowa Div sink fund 5s
1919 A-O
Sinking fund 4s
1919 A-O
Nebraska Extension 4s
1927 M-N
Registered
1927 M-N
Southwestern Div 4s
1921 M-S
97%
42 "
Sines
Last Sale
96
J'ly 13
94%
104% 1043s 104% J'ly '13
1093a Nov'12
Big Sandy 1st 4s
Coal River Ry 1st
99% 100
"16
97i2
97
107
D
Registered
11
103% Feb '13
90l2100
Chatt Div pur mon g 4s
Mac A Nor Div 1st g 5s
Mid Ga A Atl Div 5s
39
52
99%
10111 II
1934 A-O
Registered
1st pref income
20
Week's
Range or
Bid
J-J
M-N
1930 F-A
Convertible 4
9978 105%
Mch'13
85% Sale
Sll Sp Oca & G gu g 4c...1918 J-J
1> alt & Ohio prior 3M»
1926 J-J
Consol gold 5s
978..
99
7184
95%
92l2 J'ly '13
84
J'ly '13
88i2 Sale
1915 M-S
f^anada Sou cons gu A 5s_1962
Registered
1962
Centralof Ga 1st gold 5s__pl945
9734
9I84
13
95
92
Ala Mid 1st gu gold 5s
BrunsA W 1st gu gold 4s_l938 J-J
4s
90%
1
9914 J'ly 'li
hl952 M-S
hl952 M-S
1928 M-N
Registered
9034
8
98% 101%
F-A
Charles & Sav 1st gold 7s_1936 J-J
LAN coll gold 4s
01952 M-N
Sav P & W 1st gold 6s
1934 A-O
Gold
16
98
86
East Okla Div 1st g 4s...1928 M-S
Short Line 1st 4s gold
1958 J-J
Cal-Ariz lst& ref 4 Ms
1962 M-S
8 Fe Pres & Ph 1st g 5s..1942 M-S
gold 5s
953s 10034
99% 1003s
164
J'ne'13
Nov
Debentures 4s Series K
85
J'ne'13
"II *80
Nov
M-N
1955 J-D
1960 J-D
1st
95%
99
A-O
1955 J-D
Registered
89%
98
" 74
70
Conv gold 4s
Conv 4s (issueof 1910)
Chic & St .Louis let 6s
9
96
71
A-O
83
of $6 to £
99
99
Q.J
Oonv 4s Issue of 1909
Atl Coast L 1st gold 4c
the b asis
10038
9178
9134
917fi
101%
89%
83%
May *13
J'ly '13
10312 J'ly '10
99
Apr'13
86i2 Dec '11
48
48i2
48i2 Sale
Railroad.
hi995
85
971 a
6c deferred Brown Bros ctfs
4s_1995
1995
hi 995
__hl995
hl995
80
97
J
Virginia funded debt 2-3s__1991 J
g
84
90
90
on
90%
99% 102%
94% 97%
96% 97%
84% J ly '13
97
1961 J
1962 J
South Carolina 4 Ms 20-40..1933
Tenn new settlement 3s
1913
Ann
g gen
4s
tch Arbor
Top & 1st
S Fe
83%
82%
75%
100
J'ly '13
1013s "2 100
101% Sale lQ07g
9 100
100
100i4
100i4 IOOI4
80*4
8134 J'ly '13
8H4 82
97
97
99
973g
97l2
M
3>3% Corporate stock...1954 M
Canal Improvement 4s
Canal Improvement 4s
92
100i4 100
100
4M% assessment bonds..1917
N Y State—4s
Canal Improvement 4s
99%
85
90
96
Sale
955s
1003s sale 100i8
913s 9134 9U2
91% 9134 913s
9178
9H2
IOII4 Sale IOH4
1963
..1959 M
96
847g
90
are v rices
} These
4 Ms temp rects (w
96%
J'ly *13
8734
8734
87U
87%
873g Sale
7634 J'ly '13
1 79
100i2
J100% 100i2 100%
9434 J'ly '13
1
95
96t2 J'ly '13
t
1931
s
89
87*4 Sale
\
J
Republic of Cuba 5s exten debtExternal loan 4Hs
.1949
San Paulo (Brazil) trust 5s_1919
Tokyo City loan of 1912 5s
U S of Mexico
96i2
98
95
89
t
Argentine—Internal 5s of 1909.
Chinese (Hukuang) Ry 5s £
Price
Friday
August 8
BONDS
STOCK EXCHANGE
Chesapeake & Ohio—
Gen funding & impt 5s
1929
1st consol gold 5s.
...1939
Registered
1939
General gold 4Mb——...1992
Registered
......
1992
99% 103%
Foreign Government.
Y.
Week Ending August 8.
Jan. 1
Last Sals
Art Lou
Bid
U. S. Government.
tJ S 2s consol registered. _dl 930
U S 2s consol coupon......dl 930
U 8 3s registered
*1918
N.
all—"and interest"—except for income and defaulted bonds.
106
100
95
98
81
89
115
13
...
i
1
120%
"98" 102%
119
120%
IOO"
109%
106
107%
84
89%
....
....
MISCELLANEOUS BONDS—Continued on Next Pace.
Street Railway
Street Railway
Brooklyn Rapid Tran g 5s_1945
1st refund conv gold 4s
2002
Bk City 1st con 5s__ 1916-1941
Bk Q Co & S con gu g 5s
1941
Bklyn Q Co & S 1st 5s
1941
Bklyn Un El 1st g 4-5s
1950
A-O
J-J
J-J
M-N
J-J
F-A
98
1940
F-A
F-A
80
J-J
75
F-A
97%
Rapids Ry 1st g 5s
1916
Havana Elec consol g 5s
1952 F-A
Interboro-Metron coll 4 Hs_1956 A-O
♦
No price Friday; latest this week,
13
271
2
100
82
6884
....
98
97
mmm1
68
89
93
...
95%
7534 Sale
d Due April,
98
95
Aug *13
t Due
82
86
75
78
96
967s
68
99%
75%
Interboro Rap Tr 5s Ser A.1952 M-N
Manhat Ry (NY) cons g
1047t Sale 104*4
4s_199Q A-O
1990 A-O
Stamped tax-exempt
Metropolitan Street Ry—
Refunding gold 4s
2002 A-O
191
.
0
98~
98"
95
98
71
81%
DjieJuae.
....
50
64
101
100
100
99
Loan & Tr ctf.'
lers
Farmers
Stamped
Bway & 7th Av 1st c g 58.1943 J-D
Col & 9th Av 1st gu g 5s
1993 M-S
99
Lex Av & P F 1st gu g 5s. 1993 M-S
Third Av RR cons gu 4s
2000 J-J
....
Central Trust Co certifs
Cent Tr Co ctfs stamped
* Due Aug.
0 Due OcL
May'12
62% Jan '13
69% Mch '12
104
....
,
106
84
102%
92
100
J'ly '13
97% May'13
74
J'ly '1%
74% J'ly '12
74
1937 J-J
(Chic) 1st g 4S.1938 F-A
Milw Elec Ry & Li cons g 5sl926 F-A
Refunding & exten 4Hs
1931 J-J
Minneap St 1st cons g 5s
19191 j-J
Third Ave Ry 1st g 5s__
5 Due July«
105
J'ly '13
88% J'ly *13
88
88%
88%
Met W S El
76
May.
81%
81%
*95%
J'ly '13
Apr '12
J'ne'13
May'13
75%
98
101
99% 101%
1017# J'ne'12
95% J'ne'13
69
102%
99% 101%
75
75
100
101
99%
99%
99%
99%
83% 81% J'ly '13
82
84
J'ly'13
Sale
99%103%
84% 92*8
98
Apr *13
May'13
99% Saile
99%
Kings County El 1st g 43.1949
Stamped guar 4s
1949
Nassau Elec guar g >ld 4s_1951
Chicago Rwys 1st 5s
1927
Conn Ry & L lst&ref 5g 4Hs "61
Stamped guar 4^8...
1951
J-J
J-J
Det United 1st cons g 4^8.1932 J-J
Ft Smith Lt & Tr 1st g 5s
1936 M-S
J-D
Grand
98
101
101
F-A
Stamped guar 4-5s
100%
88%
100% Sale 100%
87%
88% Sale
100
99% 100
104
181
102% 105 j
86% 95 '
87% 95%
62%
100
99
62%
103%
99 j
97% 101
Nov *12
104
93% J'ly
Oft
101
J'ne'13
91
Apr '13
-102
Nov'12
p_Doe_NoT« a DueDee*
100% 101
91
f Qj?y»asafe
]
350
New York Bond
bonds
n.
Price
y.
stock exchange
Week Ending August 8
if
Cin ft & d 2d gold 4
ms
1937 J-j
1st & refunding 4s
1959 j-j
1st guaranteed 4s
1959 j-j
Cin D & 1 1st gu g 5s
1941 5v1-n
o Find & Ft w 1st
gu 4s g_1923 m-n
Cin 1 & w 1st gu
g 4s
1953 j-j
Day & mifch lstcons4Ms-1931 j-j
Ind Dec & w 1st g 5s
1935 j-j
•
1
1st guar
gold 5s
Registered
3:?
c c c & 1 consol 7s
j-d
1
o Ind & w 1st pref 5s
Peo & East 1st con 4s
Income 4s__;
Col Mid and 1st g 4s.
Trust Co. certfs. of
89
90
785s
89% Feb '13
91
Oct
ii"!
90
Deo '11
104%
9034
90U
92
100
93
♦
124
10-yr
1st lien
equip
g
4 ms
104% Sale 104%
149
96%
1916 J-D
1922 J-J
99
1943 M-N
94
General gold 5s
Terminal
Mid of
81%
91%
F-A
72
88
J-D
J-J
J-J
J-J
80
80%
M-N
84%
793,
85%
78
81
82
j'ne'13
82
82
97
Apr '13
104% Mch'13
104% 104%
100
100
97
Mar'13
99*8
100
106% Mch '08
J-J
98
101%
M-S
111
*99*78
14)4
102
103% Feb '13
Feb '11
110
116
idf" iii
...
109
103
Mch'13
100
Jan '12
1996 J-J
73%
85%
s634
84
84
72%
_1996 J-J
1951 f-a
*85% *87%
1953 A-0
1953 a-0
73% Sale
71% Sale
77
102
109
106
70%
110
Apr
68
...
90
....
100
100
....
6678
76
72
255
*85% *90*
66
82%
65
77%
'12
Apr '13
106
Dec '12
ioo"%
100%
96"1011
35*" *87
87
Apr '13
107% Feb '13
98%
98
Mch'13
108
106
May'12*
105
105
j'ne'13
100
101% j'ly '13
108
Nov'll
95
j'ne'12
96
j'ne '13
93%
92
"65* *7*4"
107*8 108
04% Sale
~98*" *99*
105
....
95%
94%
953«
95% j'ly '13
....
98
98
98
96
*72*" *76*%
152
"""a
j'ne'13
j'ne'13
93
96%
cons g
gu g 5s
'*17
& ref conv
s
f 5s
4s.2003
1941
Income 6s
1942 f-a
al960 a-o
1033 j-j
1948
Union Elev (Chic) 1st g 5s_1945 a-o
United Rys inv 1st lien coll
trust 5s Pitts issue.
.1926 m-n
♦
....
74*4
83%
8534 Feb '13
75
75
75
54%
54%
64% Sale
m-n
Tri-City Ry & Lt 1st s f 5s.1923 a-o
Underground of London—
4Ms_
101
....
*96%
95%
....
101
94
96
Mch'13
98
Nov '08
95
3
128
Jan '131
95
103% Feb '13
78s4 Sale 78%
7834
70«4 Sale 70
71
::::
105%
11:1
117% Ma'y'io
94% j'ly '12
j'ne'13
102"%
100
Nov'00
94" Feb~'13
104
—
81%
114
Feb '11
90
Oct '09
92% Aug '12
"85" "95% "98 ~ j'ly
'08
May'13
92
IO3" 105"
103
103
j-d
a-o
a-o
93%
91
69%
72%
May'13
70% j'ly '13
j-j
97
97%
96%
j-j
90%
92%
_
63
'00
Oct
97
16
91% j'ly '13
101% 102% 102% j'ly '13
104
97
Mch'13
100% 104% j'ne 12
101% 101% j'ly .'13
100% 104% May'12
93 %
93% Aug '13
100
m-n
a-o
j'ly '13
j'ly '13
.106
111
l"o"2"'
_
_
_
_
May'13
111% dec '11
105% Mch'13
l®33 j-j
1945
82"" "90%
m-s
93
j'ne*12
1945 m-s
Unified gold 4s
Debenture gold 5s
Guar ref gold 4s
con g gu
5S.1935 A-O
1927 m"s
5s_ol®32 Q- J
.
85
86
j-j
j-j
m-n
j-d
m-n
j-j
.
98%
...
99
104
....
Atl Knox & Nor 1st g5s__ 1946 j-d
Hender Bdge 1st s f g 6s..1931 m-s
100
j'ne'13
00
j'ne'13
95
Jan
'11
110
Nov '06
103
Jan '13
104
Apr '13
87
87
110% j'ne'13
.
Ill
Mch'13
92%
93
96% Sep '12
106%
99%
...
.
...
_
Ill
40
105
j'ne'13
104% May'12
120% Mch'13
114% Feb '13
....
91
j'ne'13
105%.... 105% Mch'13
109
112
j'ly '13
....
62
66
87%
88%
69% Sep
103
101
95
96
96
Next
94%
2
102% 10638 Mch'13
84"
88%
12
87% j'ly '13
111
Jan '13
106
Apr '11
88% j'ne'13
103% 103% Feb '13
82
—ftl952 q
f-a
j-j
f-a
f-
.
---
Kentucky Cent gold 4s___1987 j-j
n fla& s 1st gu g 5s
1937
n & c Bdge gen gu g 4 ms 1945
Pens& Atl 1st gug 6s
1921
s & n Ala con gu g 5s
1936
.
110%112
106%
92% 93
*90
St Louis Div 1st gold 6s__1921 m-s
2d gold 3s
..
1980 m-s
Atl Knox & Cin Div 4s—1955 m-n
...
98
10b
on
87
99% Oct '06
1830 j-j
Registered
•
96% nov'12
97
Paducah& mem div 4s...1946 f-a
Pensacola Div gold 6s
1920 m-s
gold 6s
87
9334100
89%
..1940
.1940
Collateral trust gold 5s
1931
e h & Nash 1st g 6s_j__.l»19
l Cin & Lex gold 4 ms
1931
noam 1st gold 6s
1930
n o & m 2d
Mch'13
9734 104% Deo '08
...
Registered
Men 12
107
,.1949 m-s
Louisiana & Ark 1st g 5s
1927 m-s
Louisville & Nashville—
General gold 6s_........1930 j-d
Gold 5s_
...l__..l»37 m-n
Unified gold 4s
103
96% mch'12
*87*" "88"
1949 m-s
:i
101% Feb '10
101% 107
84
1949 m-s
Registered
ioo% —i
..1934 j-d
N Y B & M B 1st Con g
n y & r b 1st g 5s_
BONDS—Continued
85% Oet*12
101% Oct '09
10u
"86"" "90
l & n & m a m 1st g 4 ha 1945 m-s
l & n-Soutb m joint 4s__1952 j
85
85s4
72%
51%
79
60%
101
101
95
84%
i00"%;i;:
97
....
107% 110
"83*% "88%
82
j'ly'13
95
Feb '05
100%
100%
101% Jan '13
110% Oct '12
109%j'ly '12
91%Mcb'
Page.
96
United Rys St l 1st g 4a...1034 j-j
St Louis Transit gu 5s
1024 A-O
United RRs San Fr s f 4s._1027 a-o
Va
46
107
103% 103%
77% 82%
63% 76%
95
99%
-
92% j'ne'13
89%
84
74
...
71
a
92%
90%
37
87
9534
,93%
Oct '08
j'ne'13
Due Jan,
71
0
Due Feb.
83
..
....
55
_
69
55%
03
73% Mch'13
G9
J'ly '13
55
55%
95
May'13
Gas and Electric Light
Buffalo Gas 1st g 5s
1047
Columbus Gas 1st g 5s
1932
Detroit City Gas g 5s
1023
Det Gas Co. con 1st g 5s... 1018
a-o
.
90
98*4
65
99%
f-a
Eq g l n y 1st con g 5s
1932 m-s
Gas & Elec Berg Co c g 5s..1949 j-d
A Due July,
..
j-j
Gr Rap g l Co 1st g 5s....1915 f-a
Hudson Co Gas 1st g 5s—1949 m-n
Kan City (Mo) Gas 1st g 5s 1922 a-o
d Due April.
100%
103% Sale 103
j-j
Det Edison 1st coll tr 5s...1933 j-j
90% Sale
♦69
Ry & Pow 1st & ref 5s__1934 j-j
Atlanta g l Co. 1st g 5s...1047 j-d
Bklyn u Gas 1st con g 5s__1045 m-n
j'ly '13
93
No price Friday; latest bid and asked
this week,
....
93
5s_1933 j-j
____1933 j-j
10
Street Railway
j-j
j-j
a-o
Portland Gen Elec 1st 5s_1935 j-j
St Jos rv l.h & p lstg 5s 1937 m-n
St Paul City Cab cons
g 5s_1937 j-j
Third Ave 1st ref 4s
i960 j-j
Adj Inc 5s
77
89
j'ly '13
93% Apr '13
9434 Jan '11
94% j'ly 12
76% Nov 12
81
May'13
83
Aug '12
123
May'99
70
j'ly '13
75% Mch *12
53
.1914 a-o
.1914 a-o
Long Isld 1st cons gold 5s_/il*31 q-j
1st consoi gold 4s
!;
a1931 q-j
General gold 4s
__1»38 j-d
Ferry gold 4ms
1922 m-s
Gold 4s
.1932 j-d
Street Railway
New Orl Ry & Lt gen 4m8-1935
1st r e & ref 4s 1942
30-year adj inc 5s
,__al942
Portland Ry 1st & ref 5s
1930
Portland Ry Lt & Pow 1st
70%
96% Sep '12
89
79
67
l & Jeff Bdge Co gu g 4s_..1945 m-
n y Rys
84
99
96
98%
124%
118
119%
9934104%
84
....
100%
j'ne *09
MISCELLANEOUS
89
iii!*75%
1941 a-o
Registered
93%
j
94
97
9278
118
j'ly '13
101
110
*94** *9634
j'ne'13
"94% *99% 93%
118
118% 119
115
117% 118
100%
100%
108«4
"
9878 101%
Aug '10
Mar'13
72
Lehigh Vail (Pa)
Ry 1st
Registered
Leh v Ter
Nor Sh b 1st
100% j'ne'13
103% Aug *12
96
j'ly *13
100% Dec '06
79
94
2(1 gold 5s
North Ohio 1st gu g 5s___1945 a-o
leh Vail n y 1st
gu g 4ms 1940 j-j
Registered
1940 j-j
"iff
122**124"
111% May'12
...
....
....
82
....
84
93%
89%....
53%
j-j
1941 j-j
-J
* j'ly~'09
03% May'13
88%
.
±
1959
City Sou 1st gold 3s..195°
Registered.
..il«5«
Ref & impt 5s
Apr 1950
Kansas City Term 1st 4s___1960
% ake Erie & w 1st g 5s...1937
it'an
1st int reduced to 4s
Leh & N y 1st guar
84
7484
May'12
Jamestown
&
Clearfield Franklin
1st 4s
103
*82* *87
80
97
5s...1938 j-d
19"
el c & n 1st pref 6s
Gold guar 5s_____
113
j'ne'13
6s.iil919 m-n
103*"
12
109
M-S
1950^ j-j
g
g 4s
-73%
Anr
124% 122
107% 106
101% 109
1931
Registered
85% j'ly '13
73
104% 108% 106
101
St l Sou 1st
gu g 4s
Ind 111& la 1st
g 4s
lnt k Great Nor 1st
Leh Val Coal Co
lstgu g
11534 j'ne'l2
86%
Sale"
...
..
115*
id3**Ids"%
91
j®"
1951
_
109%
9934 Oct '12
10234
85
100
103%103%
Aug'12
10934 j'ly -13
101% j'ne'll
103
Feb '13
M-N
J-J
J-J
J-J
Registered
1951 J-J
Spring Div 1st g 3ms.__.19" J-J
Registered
1951 J-J
Western lines 1st g 4s_
19" F-A
Registered
1951 F-A
Bellev & Car 1st esIIIIII1923 J-D
Carb & Shaw 1st
g 4s
1932 m-s
Chic St l&
NOg 5s
1961 J-D
Registered
m951 J-D
gold s ms
:::::i95i J-D
Registered
.111111951 J-D
Memph Div 1st g 4sIIII1951 J-D
Registered
1951 J-D
.
...
88
j'ly '13
98% 100% Sep '08
92
Apr 13
92% Apr '13
98% 100% Deo t2j
100
Mar'13
100
Sep '11
88% Feb '13
88i2 Feb 13
93% May'uu
.
iiii.i1051
Refunding gold 4s__
84
9784
j-j
Registered
Reduced to gold 4Ms_l933 J-J
Registered
..1933 J-J
99
j'ne'13
100*" 103'
M-N
j'-j"
85
67
Sep '04
J-J
1933 J-J
1033 J-J
9 578
84
•...
84
...1933
22
90
110
84
82
*80% *89%
90
98"" j'ly v13
.
Registered
Iowa Central 1st
gold
"
3:3
88%
i04% j'n"e"i3
*98
83
___„_1953 J-J
1921 P-A
1951 F-A
Middle Div reg 5s
Omaha Div 1st
g 5s
St Louis Div <sfc term
g 3s.
Dec '12
Apr *13
1996 J-J
Registered h
__..:___1921
refunding 4 ms ser a 1961
Registered—
___1961
99%
83
90
1953 M-N
61% Apr '11
Jan '08
j-1921 J-J
101%
93%
85 * mch'08
80
j'ly *13
97
1937 a-o
1st &
St Paul m & Man 4s
1st consol gold 6s__
121% May*12
82% j'ly '13
90
j'ly *13
89
87
j'ly '13
Sale
7034
72
78
1921 J-J
97
.94
'
82
1842 J-D
1926 J-J
*9*5*34 "98
j'ly '13
109
J-D
110% 110%
853s
iii! *77%
..1942 A-0
4s_
■
70
Mt Vernon 1st gold 6s___1923 A-0
Sull Co Branch Ist g 5s___1930 A-0
LMorida e Coast 1st 4 ms--1959 J-D
•*•
ort St u d Co lstg4Ms -1941
J-J
Ft w & Rio Gr 1st g 4s
1928 j-j
* ob Northern—
threat
& q coll trust
85
A-0
___1940 F-A
1st general gold 5s
94
85%
11138
102% 106%
94%, 97
96%
Aug'13
A-0
gold 5s_
11943 M-N
n j 1st ext5s_____104o A-0
108
...
J-J
J-J
J-D
1st
Wilk k Ea 1st gu g 5s_.
Ev & ind 1st con gu g 6s
Evans & t h 1st cons 6s
98
113
M-N
90
2d gold 4ms
Registered
Cairo Bridge gold 4s
i®50 J-D
Litchfield Div 1st g 3s___l®31 J-J
Louisv Div& Term g 3 4^b 1958 J-J
Gold 3 ms
Aug'ul
96%
Sale
85%
A-0
J-D
n y le& w lstgfd 7s__1920 M-S
Erie 1st con g 4s prior
11996 J-J
,
*96%
105%
Mch'12
90
F-A
1937 J-J
1937 f-a
104
...
100
ny Sus& w 1st ref 5s
10s
101% 103%
j'ly *13
lll38dee '10
104
108
j'ne'13
108%
102i2 105% 102% j'ly '13
90% 95
94% j'ne'13
i0:s% Feb 03
106%" ii' 110% Mch'13
101
Series b
102
10214 101% j'ly '13
10278
1017 m-s
1917 m-s
Buff n y & Erie 1st 7s.__1916 J-D
Chic & Erie 1st gold 5s
1982 M-N
Clev & Mahon Va< g 5s__1938 J-J
Long Dock consol g 6s
1935 a-o
Coal & ru 1st cur gu 6s_.;l 922 M-N
Dock k Imp 1st cur 6s
1913 J-J
n y & Green l gu g 5s
1946 M-N
'
101
J-J
M-S
94%
.
tVI-N
J-D.
M-N
26%
94%
iii
80
83
1955 M-N
_
Registered
a-o
do
104%
89
90%
May'10
100
1923 F-A
1923 M-N
2000
25
92
91%
103%
....
1952 a-0
...
j'ly *13
91%
136% Way '06
105% May'13
s
26
9134
92
120% j'ly '13
1952 a-o
25
*93*"
97
Sep '12
114% Sep '12
m-s
j'ly *13
M-S
conv 4s a
Coll trust gold 48
...
1*947 j-j
91*4
90i2
No.
a-o
sterling......1*®!
Registered
...—1961
Registered
79*34
j'ne'll
119%
a-o
3s
1st ref 4s
1916
Registered
j'ly '08
j'ly'13
98
104%
96*4
J-J
Purchased lines 3 HsII..!1®52 J-J
lno & Tax gold 4s
1953 M-N
SoShore&«At g5s_.__1937
|?lgin Joi & East 1st g 5s__1941
k-^rle 1st consol gold 7s____1920
n y & Erie 1st ext g 4s
;1947
2d ext gold 5s
1919
3d ext gold 4ms
i023
4th ext gold 5s
1920
5th ext gold 4s
1928
Penn cod tr g 4s
1st gold
120
High
92
92% Mch *11
97
J-J
49*4
36%
2d
50-year
120
87%
....
108
J-J
J-J
89
Du
1st consol gen lien g 4s
Mch'13
93%
96*4
J-J
•
35
1937 a-o
Registered
110% 110%
HousBelt& Term 1st 5s
1*37
t llinois Central
1st gold 4s_l®"
Registered
1951
1st gold 3^s
1951
Registered
__1051
Extended 1st g 3 44s
1®51
Registered
1951
79
Range 1st 5s
Registered
6s_
Registered
..1999 J-J
Col& h v 1st ext g 4s_.__1948 a-o
Col & Tol 1st ext 4s
1955 F-A
"79%
Det& Mack 1st lien g4s
1995
Gold 4s
...i.loos
Det lilv Tun-Ter Tun 4Ms_1961
Dul Missabe & Nov gen 5s_1041
».
107% j'ly '12
101% j'ne'13
>$s__19»9
j'ly '13
Guaranteed
1940
Rio Gr West 1st g 4s
.1939
Mtge & col trust 4s a
1949
Utah Cent 1st gu g 4s'_al917
Des Moi Un Ry 1st g 5s
1917
& Iron
'90** "so*
92
J-J
35
1946
Rens& Saratoga 1st 7s
1921
Denv & r Gr 1st con g 4s__1936
Consol gold 4 ms
.1936
Improvement gold 5s
1928
1st & refunding 5s___
1955
Rio Gr June lstgu g 5s
1939
Rio Gr So 16t gold 4s.!
1940
Du
TTock Val 1st cons
g 4
g
'07
or
&1952 J-J
26
Alb & Sus conv 8.Ms
*
91
Registered
Week'.
Range
Last Saw
Ask Low
Bid
.
28
1921
1st & ref 4s
87
(Continued)—
Mont ext 1st gold 4s_... 1937 j-d
J-D
Registered
__1937 J-D
Pacific ext guar 4s £
1940 J-J
e Minn Nor Div 1st
g 4s 1945 a-o
Minn Union 1st g 6s
1922 J-J
Mont c 1st gu g 69
1937 J-J
Registered
....1937 J-J
1st guar gold 5s_.
1937 J-J
Registered
1937 J-J
Will & s f 1st gold 5s...1938 J-D
Gulf & s 11st ref & t
g 5s_.&l 952 J-J
35
1915 J-D
2000 J-D
conv deb 4s
89 u
Mch'13
94
"80** *82*'
7s....1915 J-D
Registered
89%
Price
Friday
August 8
Apr
Del
Lack &&Wcstern—
el Morris
Essex lst7s_1914
Del & 11 ud 1st Pa Div 7s
90
BONDS
STOCK EXCHANGE
Week Ending August 8
[Vol.
Y.
St p m 2c m
j
1929 f-a
1935 M-N
.Construction 5s
Term & Improve 4s
Warren 1st ref gu g 8 ms
92%
92%
1047, 105%
120
82
89
87%
91
Apr '12
104% Mch'13
97l2 Nov '12
90
,
deposit.__
1st ref gu g 3ms
n y Lack & w 1st 6s
j'ne'13
85
80
100
j-j
a-0
8712
Mch'13
90
92
Ft vv & Den c 1st g 6s___1921 J-D
consoi guar
8684
80
89
8712
82%
..
1940
1990
Registered
86%
t2|
Dec
87i2 Sale
Conn & Pas Rivs 1st g 4s__1943 A-0
Cuba lilt 1st 50-yr 53 g
1952 J-J
1st
*98~% 100"%
8684 Feb '
103
*89%
89
j-d
j-j
dl938
Colorado & Sou 1st g 4s
Refund & ext 4 ms
High
107% Doc *02
1920 wl-n
Cin 8 & ci
Low
meh'
88
100
a1936 q-f
*1936
con 1st g 5s
1923
1914
Consol sinking fund 7s_-1914
General consol gold 6s
1934
Registered
1934
IndB & w 1st pref 4s
1940
•
98% Mch'
1990 m-N
Registered
.
86% j'ne'
98»4
83
Ho.
'12
87
80
NT.
Since
Jan. 1
High
101i4 100% Oct
9u2
95
l1940 m-S
1940 j-J
w w Val Div 1st
g 4s
o 1 St l & c consol 6s
1st gold 4s
!
Range
or
Last Sale
1035
Spr& Col Div lstg4s
v
Range
Ask Loto
....
j-j
CleveCinC& stl gen 4s_ >1993 j-d
20-yr deb 4 ms
1931 j-j
Cairo Div 1st gold 4s
1939 j-j
Cin w & m Div 1st
g 4s_.1991 j-j
St l Divlst coll tr g 4s
1990 m-N
:
Week's
Friday
August 8
Bid
Record—Continued—Page 2
t Due Aug.
o
99%
....
98
J'ne'13
99
J'ne'13
95% Sep '08
99% J'ne'13
106% Oct 12
100
Peb '13
III
107
...
101
100
100% 102% 101
94
Due Oct.
1031
54
Oct
'09
J'ly '1^
98% Sep '12
*
Option sale.
14
xcvii.
ABO. 9
Weeks
Rang* or
Since
August 8
Latt Bale
Jan. 1
Ask Low
Sid
Manila
RR—Sou
4t.recta.
1936 M-N
exicau
Cent ino lines
g 8a tr
Equip & coll
.1917 A-O
g 5a
con g 4a
If 77 M-S
Stamped guaranteed
1977M-S
Minn A StL let gold 7a
1927 J-D
Pacific Ext 1st gold 6a..-.1821 A-O
1st oonsol go.d 5s
1954 M-N
100
64
gold 4a
M S S A A 1st g 4s lntgu. 1929
Mississippi Central 1st 5s
M
o
Kan A Tex 1st gold 4a
2d gold 4s
J-J
1949 J-J
1990 J-D
*1990 P-A
5s
1944 M-N
lst& refund 4s
2004 M-S
let ext gold
Gen sinking fund 4
H#-—1989
2001
.1940
Kan C 8c Pac 1st g 4s
1990
Mo K 8c E 1st gu g 5s
1942
M K A Ok 1st guar 5s
1942
"00%
90*4
76*4
97%
67
801%
J-J
A-O
M-N
P-A
A-O
M-N
MKkTofT 1st gug 58.1942 M-S
Sher Sh A So 1st gu g 5S..1942 J -D
Texas A Okla lstgu g5s
1943BM-S
Missouri Pac latcons g 6a
1920M-N
Trust gold 5a stamped
el917M-S
St Louis Dlv 1st ref g 4s
Dal & Walstgug5s
87
conv
1959 M-S'
5s
1919 F-A
Cent Br Ry 1st gu g 4a
g 4s
1948
Leroy A C V A L 1st g 5s_1926
Pac R of Mo 1st ext g 4s
1989
2d extended gold 5s
..1988
J-D
J-J
P-A
J-J
StL Ir MAS gen con g 5s.1981
Gen con stamp gu g 5s
1981
A-O
Cent Br U P 1st
4
A-O
Unified A ref gold 4s.
1929 J-J
Registered
1929 J-J
Riy A G Div 1st g 4s....l933|M-N
Verdi V I & W 1st g 5s...1926 M-S
Mob A Ohio new gold 6s
1927 J -O
._hl927 Q-J
1938 M-S
gold 6s
General gold 4s__,
1947 F-A
«1930 Q-P
Montgom Dlv lstg5s
St LA Cairo coilg4s
Guaranteed gold 4s
1931 J-J
NashvilleCh
Agold
StL 5s..
1st7s 1928
1913 A-O
J-J
1st consol
1923 J-J
McM Mff&AI 1st Cs
1917 J-J
TAP Branch 1st 6s
1917 J-J
NatRysofMexprlien4^s 1957 J-J
Guaranteed general 4s
1977 A-O
Nat of Mex prior lien 4J^s_1826 J-J
1st consol 48
*.1951 A-O
N O Mob A Chic 1st ref 5s_1960 J-J
N O A N E prior lien g 6s
pl9l5 A-O
New Orleanc Term 1st 4s
1983 J-J
Jasper Branch 1st
,
g 6s
Registered
...
...
9l" "97
80%
13
74
05%
81*4
97%
0#%J
67%
79%
77%
77%
101
Apr *13
103% 104%
97% 101%
99i2
96
May'13
95*4
J'ly'13
95*4
97
klav'12
"03% "94%
93
"68'Sale"
€8"
108
103
101% 101%
103
106%
95% 100
91" "99%
93
"68
" "70%
64
89
74
96
90
81%
May'13
81
Dec *12
110
Me*'05
92
...
"86" "90*U
101*4
797,
...
90
J'ly'13
101*4 J'ne'13
102
102
...
KM
"79"" "80*4
St Paul-Duluth f)iv g 4s
Dul Short L 1st gu 5e..
1996
1916
100
St P A N P gen
gold 6a
Registered certificates
1923
1923
St Paul A Ddluth 1st to
1931
1917
81%
77%
96
Jan '13
98
114
Apr '13
114
117%
112*4 112*4
80
pacific Coast Co 1st g 5s
85%
*-
107% 109
100
J'ne'13
100
101
1st real est g 4s...,_.._
Consol gold 6s
Oonsol gold 4s
105
J'ly '13
105
108%
Convertible goid 3H*
111
Jan IS
111
111
206
102*4 10412 105% Jan 13
116
J'ly '64
160*4
62
64
84
Apr *13
77
98
9«7| Feb 13
75
May 18
60
....
79% Mayvl3
60% \
81%
J-J ~«©%III
1997 J-Jj
"90" "9178
1934 M-N
1934 M-N
794
48*4
48*4
4914
10012 162
83
J'ne'13
88%
96
93
Sale
1993 F-A
77i2 Sale]
1993 F-A
74
764t
Mich Cent coll gold SJ^s-lMa F-A
73%
Registered
1998 F-A
60
Beech Creek 1st gu g 4s
1936 J-J
Registered
1936 J-J
io• "III!
2d guar gold 5s......
1986 J-J
Registered
..1936 J- J
Beech Or Ext 1st g 3H«-M951 A-O
Cart & Ad 1st gu g 4s
1981 J -D
Ml
GouyA Oswe 1stgug5s_. 1942 J-D
,
Moh A Mai 1st gu g 4s
1991 M-S
9012
N J June R guar 1st 4s
1966 F-A
Registered
1986 F-A
N Y A Harlem g zy2s
2006{M-N "63" "89
Registered
.29661M-N
100
197%
N Y A Northern 1st g 5s
1927 A-O
96
NY&Pu 1st cons gug 4S.1993 A-O
*NorA Mont lstgu g 5s
1916 A-O
....
...
91%
76
123
123
g 4s. 1936
U N J RR A Can gem
4s..l944{M~S
80
79
7712
98
...
1935(M-N
A 1942
Series
_n
-
-
-
Gr R A I ex lstgu g
PHts Y A Ash lat oons
w.-<
107
Rutland 1st
4^s
.1941
Og A LCkam Istgu4sgl948
Rut-Cauad lstgu g 4s
1949
St Lawr&Adir lstg 5s
1996
con g
2d gold 6s
Utica A Blk Rlv gu g 4s
Lake Shore gold 8Hs
.
Registered
<
Debenture gold 4s_.
25-yr gold 4s...
Registered
J-J
J-J
J-J
J-J
190# A-O
1922 J - J
1997 J-D
1997
..1926
1831
1931
5s.
1038
Pitts & L Erie 2d
-
Michigan Central 5s
Registered
4s
-
Registered
13
92
112%III.
131% Jan '09
103
100
102
J'ly'13
106%I 101
Me* *12
104
J'me'10
96
Apr '13
107
..
;1
82
76
ioo"
90
....
Sale
92
J me'09
108
108
Sep '12
116
1-19% Me*'12
...
86%
86
907g
84% May'13
90%
96*4
60%
90%
90%
M-N
89%
A-O
JJJ-.
J931M-S
.1931 Q-M
.1040 J-
93
5s.l927|M-N
102% 110% 111% tf Oh'll
116%
110
123% Me*'12
100%
in" Jamvl2
100
119
"93"
..1940 J-
J L A S 1st gold 3^8—1951 M-_
lst gold 3^s
1052M-N
29-year debenture 4s
.1929 A-O
NY Chic A StL lstg 4S..1837 A-O
Registered
1937 A-O
Debenture 4s
1931SM-N
Apr 12
105
82%
84%
93%
93%
85
94%
87
Jan '12
101
J'ne'13
110*4 111%
87
87
87
99
99
98
Bt L
91%
101%
99% 101%
McJt'12
W" 100%
957,
113
97%
96% 97
98*4 102%
99% 99%
99%
....
102
102%
12
J'ne
99*4
100%
99% Feb '13
100
Sep '12
87%
99% J'ly *13
99
09
~ loo",
Jan '03
....
i#l"% MaV'12
-82
83% J'ly *13
85*8 J'ne'13
84
..-.J
96%
97
•84
82% ...J
94%
95
95%
86
101% 104
.
83*4
-
.
95
92% Feb '13
110
100-.5:-
Jau '05
102
J'ly'13
109*4 J'ly '09
91% Feb '12
90% Oct *12
'
90
87%
1
102% 102%
.
J'ne'13.
84% J'ly '13
82% J'ly '13
85%
87
86%
97
97
84%
85%
82%
94
82%
96%
92%
92%
.
102" 102""
_
.
May OA
10D2 Feb
109
160
93%
J-J
98
86%
86%
1942 M-S
92
161% 101%
13
May'lOl.
102% J'ne *12
102% Nov'13
*95" 95 J'ly '13
101
104
gu
196%
105% 103
106
103
J'ne
95
95
Mch '13
101
103%
101
103
11
J'me'06
88
106
103%
106
nn "95"
nn "50"
91%
97%
106
108
Feb '13
106
106
11
Jan
13
98
"54 " "54 "
Feb
100% 100%
13
90
96
90%
90% Aug 13
108
Sale
94%
92
III! "92%
94
96
90%
96%
108
106
Apr *13
113% No*'11
947,
95
"75" "83%
"75" May'13
-
647,
51
Oct *12
106% Apr '13
III— 74'
#5%
97%
95%
547, May'13
....
104
92%
90
90
J'ne'13
93% Jan
54
100
92%
92% J'ne 13
90
Apr '13
95% Jan '13
97% Jan 13
87%
Series D 4s guar
S-N
Oet/12
130% Jam *09
Q 4s..l
68%
100% 100%
108% 113
96% J'ne'13
993, Sale
J-J
..1945 M-N
1949 F-A
.1953 J-D
90
90
..1957 M-N
C St L A P 1st con g 5s.
79
84
1932 A-O
Peo A Pek Un 1st g 6s
1921
2d gold 4Me-91921
Pere Marquette—Ref 4«
1955 J-J
Refunding guar 4s
1955 J-J
Ch A W M 5s_
.1921 J-D
85% 88%
Flint A P M g 6s___
84% 88
1920 A-O
1st consol gold 5b
1939 M-N
90% 92*4
1% Huron Div 1st g 5«__1939 A-O
89% 92%
Sag Tus A H 1st gu g 4s
Y931 F-A
Philippine Ry 1st 30-yr s f 4s '37 J-J
Pitts oh A LE lstg 5b
1*40 A-O
let cqnsoigold 5s....1943 J-J
::::::::
l> eading Co gon g 4s__
1997 J-J
DRegistered.....
...1997 J-J
Jersey Gent coll g 4s
.1951 A-O
Atian City gu 4s g
...1951 J-J
Ct Je A Gr Isl 1st g 4s.
.1947 J-J
90%
106
92%
99% J'ly '13
96%
97
95
Series E 3J^s guar g
Series F gu 4s g
Series G 4s ruar
907, Rov'll
86
J'ly '131
90*8
68
90
11#
9672 Sale
4Mb A...1940 A-O
Series-B guar.. J.
1942 A-O
Series O guar..
1942 M-N
P O OA
92
65
Apr '13
....
102
76
76
Series
105%107
92
M-N1
5s
31928
PittsMcK A Y lstgu 6s
1932
2d guaranteed Gs
1
1934
McKeesA B V 1st g6a_.19-14
g
-
J-D
M-S
Ka A A G R lstgu c
J
Mabon C.'l RR 1st 5S...1934 J
>
"Pah"
92
63%
May'13
95%
98%
97%
! 90% J'ly *12
4>is. 1941
-
65%
65
90
100i2 100% J'ly *13
...
92
65
90
94%
96
....107
997,
107
83
J'ly 13
Sale
__1940
87% Dec '12
,
....
87%
1127,
111%
84%
91%
91%
J'ly '13
86% J'ly '13
G__I
1
Pine Creek reg guar 6s
1932 J-D
R W A O con 1st ext 58
7il922 A-O
Oswe A R 2d gu g 5s
.01916 F-A
\R W A OTR lstgug5s_.1918M-N
86
99
98
105*4 105%
Jan '13
99
85%
©et *02
105
'
;
mi nil
Erie A
98%
98%
J'ly'13
91% Apr '11
1107t Apr *13
"8*5" nn
Oet'12
88
98% Jan "'13
mm
104
25
10478
94
100
Series
3942
Int reduced to 3Ks___1842
'
..
88" "92*4
88*4
105
101
"ii% nil
Guar3UicdH trustserB.1941
Us...1916
C..
1942 J -D
Guar 3 Us tru^t ctfs D„..1944| J -D
Guar 15-25-year g4s.Zn.1951 A-O
OimLeb A Nor iru 4s g.
1942 JM-W
4j^s
.
Apr'13
107
....
99
88
101% 101% J'ly '13
102*4 May'13
1921
CI A Mar 1st gu g
CI A P gen gu g 4 H# tor
<
66
...
—1»21
Trust Co ctfe gug 3
Guar 3 H* trust ctfs
98
..
105
Sale
115% 120*4
Jam '11
88*4
104
13
93
93
98
Gnar 3 Us ooll trust reg.. 1937
80%
75
Jan
115% J'ne'13
100" IIII
StaftitHiry A Lewis 1st
87%
123
119
100%
100% Sale 100%
108%
108% Sale 108%
115% Aug '11
87
99%
121
87
76%]
"76% "83
79*4
77%
77%
77
S If *13
77% Uay'13
98
Apr '19
99
May 11
96%
K)0
64
75
May'12
79
83%
92%
85
120
"65"%
45
Pennaylvanla Co—
Gu*r
g 4'H«
Registered
817,
100
....
1924
82
96
104% 10478 104
85
85%
105*4
100%
84%
85%....
9378
937g Sale
91%
Sod Bay A Sou 1st g 6s
87
86*4
95
98
067,
80%
98%
Aug'09
83% Feb '13
85%
85%
92% J'ne *12
89% Feb '12
96% J'ly '13
Sale
104% 106
104% 106
gen guar g 4s
D R R R A B'ge 1st gu 4s g
'36^P-A
Phiia Bait A VT 1st g 4a_1.1943 M-N
*79"% "87%
85%
"88%
Alleg Val
"gg%
90%
110
85%
118
j
78
82%
76%
96%
Feb .'13
75
85
93%
1948
1942
----
23
857S
Apr'13
1923iM-N
1919 M-S
19431M-N
ellli "
#1915
Registered
00%
110
Feb 13
85*4
Mch'13
1946
Consol gold 4s_.
105% 105%
110
118
"
" "89"
107*8
65
ennsylvania RR—
89
89
88
...
•
100
^1968
1946
Nor Pec Term Co lstg 6s
1938 J-J
Oregon-Wash 1st A ref 4s
1951
96
99% J'ne'12
90% Mch'13
112
1st consol gold 4c
Wash Cent 1st geld 4s
'83%
867, Dec U
J'ly *13
~85~ IIII
10&a^
82%
2d to
83% J'ly '13
107% J'ne'13
100
106
78"
126
....
115
1934
93%
101*4 103
00
87
107
115
109%
111%
99% Nov 12
100
...#2047
«2647
Registered
112*4 Jan '13
"82% III
Registered
*1%
Oct '12
81%
prior 1
General lien gold 3s
79*4
«07| Oct *12
113
Northern Pacific
"88
90
79
"81% '82*4
II"
77%
73
.
4s._1939
g 4s 1997
1997
Scie V A N E 1st gu g
90% May 11
"8iia IIII
87
99~% Mo"h i2
1941
1931
1932
1996
1996
Div'l 1st 1A gen g 4s
1944
10-25-year conv 4s
..1932
10-20-year conv 4s
1932
Ooavertfble4Hs (wh.is.)1936
Pocah C A C joint 4S...1941
COAT 1st guar gold 5s
1922
89%
88%
84
Apr *13
Aug 13
78
1958
gold 6s
Norf A West gen gold 6s
improvement A ext g 6s
New River 1st gold te
N A W Ry 1st earns g 4s
Registered
97%
J'ne'13
#1992
General 4s
981*
90
87
86
107
#1992
Norf A Sou 1st
High
93
73
....
867,
"_5
76
Sale
103
Norfolk Sou 1st A ref A 5s._196l
87%
J'ly 13
111
Low
No.
82
..1945
19571
Registered 95,000 only
78%
82
99% 103
9714 i ly '13
Providence Secur deb 4s
N Y O A W ref 1st g 4s
102
102
192*8 101
1051b 104
88%
70
High
J'ly'13
917,
9l7g
100% J'ly '11
1948
New England cons 5s
Oonsol 4s.
87
99
N Y Central A H R g 3.^8-1997
Debenture gold 4s
Registered
Lake Shore coll g3Hs—
Registered
62?r
...
96*14
....
1932
1955
1966
1956
Conv debenture 6s
1948
Harlem R-Pt Ches 1st 4a.l954
B A N Y Air Line 1st 4s__1955
Oemt New Eng 1st gu 4s..1961
Heusatonic R cons g 5s—1937
NYW'chesAB 1st ser 14H« *46
N H A Derby cons cy 6s
1919
100
May'13
_
V 1st extension
88
54
82
104"
95
917s
Conv debenture ZHs
..
96
Ask\ Low
95%
91%
Non-conv 4s
82
1091s
Jan. 1
Bid
Non-conv deben 4s
lftlij Mch'13
altl7M-ft
1st collateral gold fls
1920 F-A
Registered
1920 P-A
40-year gold loan 4s
__194dM-8
3d 7s extended at 4%_...l»58M-ft
1st A ref
124l2 Oct *12
108
110% Aug'11
88
J'ly 13
88
J'ly '13
59i2 56
7984
79*4 Dec '12
J'ne'13
937g 91
97% J'ne'12
#6% May'12
92*4
•4% Moh'11
90*8
90*4
Sale
76*4
79ig 76i2
97i2
98% 97.l2
70
70
J'ly '13
8OI4
81
83
75
7814 Apr *13
102
Apr'13
96
Since
Last Sale
N Y New Haven A Hartf—
Nev'10
79
m*
97
Registered
f
<*
Week's
Range or
2361
Registered
N Y Cent Lines eqtr 4 Us
...
87
.194# M-S
Dea M A Ft D 1st gu 4a
1915 J-J
M. StPA 8SM con g 4a int gu 1988 J - J
1st Chic Terml s f 4s
1941 M-N
latand refund
%»
—
*a.
Y O A H R—(Con)—
West Shore 1st 4s guar—2361
77" MM*'10
75
-
110
§£
Y. STOCK EXCHANGE
Week Ending August 8
N
High
Apr"*09
25%
Mei Internat lBt
No. Low
Hit*
N.
Range
Price
Friday
August#
BONDS
Ranee
Prist
Friday
BONDS
STOCK EXCHANGE
Week Ending August 8
Y.
N.
351
New York Bond Record—Continued—Page 3
1913.]
42
95%
J'ly '13
J'ly '13
"o'l*! "97%
92
96%
91%
96%
IIII "80
"80 " J'ly '13
80
" *84 "
108
105
J'ne'13
105
114%
97% J'ly '13
72% J'ly *13
52%
56%
93
^ t Louis A Sam Francises—
98
Apr'13
98%Nev'll
90
J'me'08
82%
82%
85%
85%
94%
94%
97% Jan'13
85
J'ne'131
82%
86%
84
89
93%
99%
97*2
83%
971J
89
General gold 6s
.1831 J-J
General gold 5s
'
1831 J-J
St LA S F RR cons g 4s._1995| J -J
Gen 15-20-yr 5s
1927 M-N
Southw Div 1st g 5s....194 7 A-O
R efunding g 4s......... 19 51 J-J
977,
72
56
Sale
100
70% Sale
107
100
Jan '13
70%
70%
60%
""7
105
72%
82%
100
65
76%
112
116%
80% Moh'11
.....1961 J-J
Registered..,
72%
JUSCELLANEOUS BONDS—Continued on Next Page.
Gas and Electric Light
Gas and Electric Light
1
;Kings Co El L A P
g 5s
1837 A-O
Purchase money 6s
.1997 A-O
f Convertible deb Gs...
1922 |M-s
Ed El 111 Bkn 1st con g 4s-1930
/Lac Gas L of St L 1st g 5s.«1919
ft
|
Ref and ext 1st g 5a
^Milwaukee Gas L 1st 4s
(Newark Con Gas g 5s
1934 A-O
1927 |M-N1
11944 J-D
NYGELHAPg 5s
1948
i.
Purchase money g 4s
1949
Ed El 111 1st cons g 5s
1996
NYAQE1L A P 1st con g 5s 1930
N Y A Rich Gas 1st g 5s...1921
J-D
F-A
J-J
P-A
101% 104*4
#9% 101% 101% JTy i:
109
Jly '13|
109I2 113
124% 122
m
mm m
tun m-m
100
99
"88% ~Wa
100
101%
99
99
88% 90% 88% JTy 13*
101% _.Z- 106% Ayr '12
101% Sale 101%
101%
83% 82%j 82%
82%
10s
106% Apr '13
100
101
101
J'ly *13
88%
80
1
102
00
86%
106% 108%
...
■-N1
102%
100% 108%
82
99% 101%
92% J'ly '09
Pacific G & El Co CalG A E
CorpunifyingA ref 5s
^.1937 M-N
Pac Pew A Lt 1st A ref 20-yr
Internat Series..
Pat A Passaic G A E 5s
58
»
No prioe
..I960 F-A
1949 M-S
02% Sale
....
99
95
91%
93
91
M%M«h*13
94%
183% J "ly 12
zzzs.
Friday; lat«t bid Aftdj4k«Sk_« Due Jan._ J Due Feb. ^
13
6s...1943
1947
1947
Ch G-L A Cke lstgu g 56.1937
OonG CoofCh Istgug5sl936
Ind Nat Gas A Oil 30-yr fts '36
Mu Fuel Gas 1st gu g 5s..1947
Philadelphia Co conv 5s
1919
Conv deben g to
...1922
oon g
Stan Gas A El conv
s
©4%
f 6s
A-O
M-S
M-S
J-J
J-D
M-N
M-N
F-A
116
M-N
04
1926 J -D
Syracuse Ughtkig 1st gto..l#51 J-D
Syracuse LAP 5s..
....1954 J-J
Trenton G A E 1st g to
1940 M-S
Union Elec L A P 1st g to_.1932 M-S
Ref A ext 5s
98
spueilay.
Peo Gas A O 1st
Refunding gold to
Registered
114
12
88% Apr 13
101%..." 101%
99
Dec
107
1933
103
Fib *09
166" III.
100
J'ne'13
♦99%
102
J'ne'13
93
Mch'12
#2
99
93%
100% Aug'12
95
97% May'13
97*3 93
J'ly *13]
93%
95*4 9212
1960 J-D
99% 10l7g
98" 103%
102
102
...
101
190
14
97i8
97%
93
98
i
92% 100%
Deo '11
85% J'me'121
100%IIII
....
9»y
M-N]
Utica El L A P 1st g to....1950 J-J
Utica Gas A E ref 5s
1957 J-J
Westchester Lt* g 5s.
112
Jly 13
100% Jly 13
112
100%101
100
F to *0Y
97
J'ne'lfH
92
J'ae'13
99
92
mmtarn
160%
101"%
_#Due Juao.i Due July.. s Due Oct.^ v Due Ne*.
'if 102'
.
Dee *11
J'ly 13
i €lptleajtfit»,'
92
mmm'm
101% 106%
\
353
N.
New York Bond
BONDS
STOCK
EXCHANGE
Y.
Week
fcS
C
Ending August 8.
St L & San Fran (Con)
K O Ft S & M con g Gs
<
Registered
1936
K O & M K & B lstgu 5s_1929
Ozark & Ch C 1st
gu 5s g.1912
8t L S W 1st g 4s bd ctfs
1989
2d g 4s inc bond ctfs
pi 989
Oonsol gold 4s__
1932
.
Beaboard Air Line
4s
g
Gold 4s stamped.....
t
Registered
Adjustment 6s
Refunding 4s
Atl-Birm 30-yr 1st
.
'
A-O
...
High
107
71%
1019 J-J
1950 A-O
1950 A-O
"8~2l2 "II
81
*74" Sale"
72%
A-O
M-N
J -J
No.
108
71
Low
High
4
105
113%
65
78
104
78
80
76
81
76
79%
*81%
g
Oar Cent 1st con
Fla Cent & Pen 1st g 6s..1918
1st land gr ext
g 5s
1930
Oonsol gold 5s
1943
Ga& Ala Ry 1st con 5s__ol945
Ga Gar ft No
lstgu g 6s
Seab ft Roa 1st 5a
104
76
6
73
79
84%
88
90
90
J'ne'13
J-J
J-J
103% Jan '13
104
Nov'12
J-J
107
J'ne'12
101
J-J
1929 J-J
101
1926 J-J
101
3d gold 4s
917s
102i2 102 J'ly *13
103
IO284 Apr '13
106% 105
May'12
102
20-year
"88~% Sale"
88
9484 Sale
♦8912
9284 9484
94% J'ly '12
89
J'ly '13
83
J'ly *13
conv 4s
pl929 M-S
1949 F-A
Registered
i
1949 F-A
Mort guar gold 3Hs__fcl929 J-D
Through St L 1st gu 4S.1954 A-O
)
"
G H ft 8 A M ft P 1st 5s_1931 M-N
Gila V G & N 1st gu g 5s_1924 M-N
Hous E & W T 1st g 5S..1933 M-N
1
<
;
'
1
1
89%
89%
86% May'13
Cent Pac 1st ref gu g 4s
■
>
90
1st guar 5s red
H & TO 1st
g 5s hit gu
Gen gold 4slntguar
1933 M-N
1937 J-J
1921 A-O
Waco ft N W div lstg 6s 1930 M-N
A & N W 1st gu g 5s
.1941 J-J
Morgan's Da & T 1st 7s._1918 A-O
1st gold 6s
1920 J-J
No of Cal guar g 5s
1938 A-O
Ore & Cal 1st guar g 6s__1927 J-J
So Pac of Cal—Gu
g 5s_.1937 M-N
So Pac.Ooast 1st
gu 4s g_1937 J -J
San Fran Terml 1st 4s__1950 A-O
Tex & N O con gold 5s_.1943 J-J
So Pac RR 1st ref 4s
1955 J-J
....
IIII *88 "
100
♦
89
104
95%
267
84
93%
13
90
96%
83
Mch'13
......__1994 J-J
Registered
1994
( Develop 8c gen 4s Ser A..1958
Mob & Ohio coll tr g4s_.1938
\ Mem Div 1st g 4H-5s
1996
St Louis div 1st g 4s
1951
Ala Cen R 1st g 6s
Atl ft Danv 1st g 4s
2d 4s
J-J
A-O
M-S
J-J
J-J
1918 J
r.
Atl & Yad 1st
g guar
4s
'ITVa&Ga Div
g
....
J'ly'13
xoftQ
"85 "
96
90
112
J
g 6s
g
1922 J-J
1925 J-J
5s.l945 J-J
1945 J-J
Mortgage gold 4s
Rich & Dan con g 6s....1915 J-J
Deb 5s stamped
...1927 A-O
Rich & Meek 1st g 4s
1948 M-N
So Car & Ga 1st g 5s
1919 M-N
Virginia Mid ser C 6s....1916 M-S
>
>
Series D 4-5s
,
86%
*
"82*111.
103
107
95
104
*98% ioi%
1031 M-S
100
J-J
F-A
J-J
A-O
A-O
1st RR & land grant g 4s.l947 J -J
o>2008 M-S
4s
1946 J-D
Ore Short Line 1st g 6S..1922 F-A
1st consol <■ 5s
1946 J-J
[Virginian 1st
mn g
gu
*87"%
J'ne'13
103
106
106
J'ne'13
106
109%
105% J'ly'12
64% May'13
100
"63"" "64%
106
106
~7»" *f9 "
.101% 102%
103% 103%
"B8"%I6l"
Oct '06
104
105
108%
Sale
92
"9984
10012
"9714 102"
100
J'ne'13
92
99% J'ly '13
102% Apr '11
104
Feb'13
Aug *12
89% May'13
106% Sep '12
sale 101%
102
61
89
Nov'12
103% 104
i
88"% "89%
105
102
20
99%
106%
106%
10112 10334 107%
102
IIII "87
97
84
84
53
65
68
Dec '12
89
Apr *13
88%
91%
J-D
105%
88%
J-J
100
J
105"% 106"%
loo" 160"
'
53
95%
08i2Feb '13
92i2
92
91
109
109
89
94
99
80
91%
Deo '12
95%
92
92
...
91%
47"% ~67"%
88
" ~89 "
10278 104%
86% J'ne'12
Sale
...
91%
92%
92%
Aug '13
%
109
105%
88%
108
105%
88%
May'll
03
" Apr"!3
97
153
85
99%
98%
86%
98%
97
13] ,887,
95%
91
98%
*'1 108% 112%
8 103%109
86% 93%
M-N
..1962 M-N
97%
93
Mch'13
90
94
Oct '12
98
97%
97%
8
99
78
73%
98%
867,
86%
89%
86%
Mch'13
Dec'12
..
13
Aug '13
Feb 11
J'ne'13
67
60
99
99
4^s ...I»1915
-F
95
96
A-O
F-A
M-S
J-J
A-O
A-O
IIIII1951
1st
s
FrA
f 5s_1919 J-J
Works 1st 58..1940 M-N
Beth Steel 1st ext
s f 6s,
1926 J-J
1st & ref 5s guar A
1942 M-N
Cent Leather
20-year g 6s_1925 A-O
Consol Tobacco
g 4s_
1951 F-A
Corn Prod Ref a f
g 5s..IIl931 M-N
1st 25-year s f 5s
1934 M-N
Cuban-Amer Sugar coll
tr 6s 1918 A-O
Distil Sec Cor conv
1st g 5s.l927 A-O
E I du Pont
Powder 4 As..1936 J-D
General Baking
lst25-yr 6s. 1936 J-D
Gen Electric deb
g 3Us...l942 F-A
5s
1952 M-S
Gon'I Motors 1st
lien
6sIIIl9l5
4Hs......
A-O
Indiana Steel 1st 5s
Ir1052
Int Paper Co 1st con
g 6s__1918
Consol conv s f
g 5s......1035
Int St Pump Istsf 5s
1029
Lackaw Steel 1st
g 5s..
1923
1st con 6s Series
A.
;.1950
5-year convertible 5s
1915
M-N
F-A
J-J
M-S
A-O
M-S
M-S
Liggett & Myers Tobac 7s.l944 A-O
1951 F-A
1944 A-O
5s
1951 F-A
env 6s A.'21 A-O
Nat Enam &
Stpg 1st 5s..1929 J-D
Nat Starch 20-yr deb
5s__.1930 J-J
Mexican Petrol Ltd
National Tube 1st
N Y Air Brake 1st
5s
conv
1952 M-N
6s_1928 M-N
95%
92% 93
68% 99% 99%
75
75% Sale
101% Sale 101%
QQ
09%
Vd* 92% 93
118
10
95%
J'ly '13
J'ly '1*
76
101%
Jan '13
J'ly '13
J'ne'13
117% J'ne'13
96
96
98
J'ly '13
9538 J'ne '12
"82 ~ Safe 82
82%
103% 103% May'13
....
03
84
82
82%
93%
94
97
92
96%
92
04
....
93
93%
82
82%
93%
93%
95% J'ly '13
96% Feb '13
92% J'ly '13
94% Feb '13
95
60
Sale
84
Sale
60
60
83% "
84
96% 95
Apr '13
75% 76
75%
75%
103% Sale 102%
103%
98% 99% 98%.
98%
85
1940 A-O
84
Sale
851,
99%
99% Sale
99%
100% 100
100
84
84
66% Sale
91% 92
70% 73%
94% Sale
100
05
Sale
97%
94%
'
97
May'5l3
85
J'ly '13
88% Feb '13
94%
95%
98%
98%
85%
88
94% Sale
98% 99
6
""I
15
11
5
20
2
J'ly '13
66
667,
92
917,
73% J'ly '13
94%
947,
117% Sale 117
117%
96% Sale
96%
96%
115% Sale 115%
115%
05
8
"43
15
~36
23
32
7
20
49
2
Railway Steel Spring—
Latrobe Plant 1st s f 5s_.1921
Inter-ocean P 1st s f 5s_. 1931
Repub 1 & S 1st ft col tr 5s.l934
10-30-year 5s s f
1940
Standard Milling 1st 5s
1930
88%
102
91
85
98
88
90
89
91% Jan '13
89
....
30
Sale
95%
"ri" IIII
"97 "
"53
Feb'13
82%
27
83
May'13
101%
100%
100
93
101%
89
89%
96% Apr 13
9
139
6
4
35
49
13
82% Deo '12
83% Nov'11
97
97
lis
.n»**«
3
85
89%
Aug '12
J'ly '13
97
©8% 97% J'ly '13
103% May'll
"96% *96% 96%
96%
97% 98
97%
97%
98% S&le 98%
98%
98
100% 97
J'ly '13
92% 89
89
1937
Fd and real est g 4Ms
Sale
997, 102
South Bell Tel &T lstsf 5s 1941
West Union col tr cur 5s...1938
Mut Un Tel gu ext 5s....1941
Northwest Tel gu 4/^s g.1934
99
88% Sale 87%
88%
102
99% Jly '13
102% Sale 101%
102%
...
98%
15
J'ly <13
100
.1936
93
102%
91%
" 85%
Sale
20
20-yr conv 4 Ms (when lss) 1933
Chicago Telephone 1st 5s
1823
Commercial Cable 1st g 4s.2S97
Registered
..2397
Oumb'dT & T lst& gen5s.1937
Keystone Telephone 1st 5S.1935
MetropolTel&Tel 1st sf 5s_1918
Mich State Telep 1st 5s....1924
N Y & N J Telephone 5s g.1920
N Y Telep lst& gen sf 4j*s 1939
93
"
91
85
101% Sale 100%
100% Sale 99%
997,
93 " Safe
92,
101
Sale 100%
WestinghouseE & M sf 5s_1931
10-year coll tr notes 5s_.1917
Telegraph & Telephone
Am
Telep & Tel coll tr 4s
1929
66
102%
....
82% Sale
Va-Gar Chem 1st 15-yr 8s_1923
West Electric 1st 5s Dec 1922
94
66
91%
1930
93
96
91
99
U S Realty & I conv deb
g 5s.'24
U S Red & Refg 1st
g 6s
1931
U S Rubber 10-yr coll tr 6s. 1918
U S Steel
Corp—/coup
dl963
S f 10-60-yr 5s\reg
dl963
Convertible 4s_.
98
66
The Texas Co conv deb 6s_1931
Union Bag & Paper 1st 5s_1930
Pac Tel ft Tel 1st 5s
99
F-A
Feb
99
73%
49 '
Stamped
1027, Apr '13
84
107
84
64
98
" 107"%
100
Apr '11
84
81
13
Nov'04
ApE'13
J'ne'12
100
May'13
91% Feb '13
9434
94%
103
53
92
99% 101
111
108
86%
102% 108%
90% 95%
92
92
J'ne'13
62
5s
102
07
95
62
Lorlllard Co (P) 7s
104% 104%
Feb
100% J'ne'13
90
86%
85%
19
Oct '12
Sale
Registered
Writg Paper
Debenture
86
....
49
S:-N
41
1"
99
""1951 F-A
111 Steel deb
!'*
48
M-S
6
J'ne'13
1378
1478
1234 J'ly -13
A-O
1931
125
>*••*>«>
60%
50%
102% J'ly *13
80
Aug '12
65
Apr '13
77
May'13
"1928
5s
238
41
Nov'12
34
90
-
98% J'ly '13
112
110
107%112
J'ly'13
102i2 104% 102% J'ne'13
4Hs.l934 J-J
5s Series A
86%
88%
Mch'13
~92%
1st & ref 4s
[Vera Cruz ft P 1st
107
79%
102
95% Sale
.......1947 J-J
4s...
1927 J-J
Guar refund 4s
1929
Utah & Nor gold 5s
1926
1st extended 4s
1933
TTandalia cons g 4s Ser A.1955
v
Consol 4s Series B
1957
R6%
103
104
...
105
84
pr lien
..1950 A-O
Coll tr 4s g Ser A___i_....1017
F-A
Tor.Ham ft Buff 1st g 4s. Jil946 J-D
f Tlster & Del 1st con g 5s_1928 J-D
0
1st refund g 4s
.....1952 A-O
Union Pacific—
v
78%
49%
100
..
lOf" III
4s_.I960 J-J
......
94%
60-year geld 4s
), Ore Ry ft Nav
103
103% NOV'12
104% Jan '13
J-D
J-J
J-J
g 3^s_1925 J-J
conv
107%
104%
72%
78%
107% J'ne'13
106% Nov'12
79
Mch'13
100
102% 101% May'13
100% 104
103% Jan '13
73
Sep '12
92
Registered
....
...
La Div B L lstg 6s
1931
WMlnW&NW lstgu 5s. 1930
Tol A O C 1st g 5s
1936
i
Western Div 1st g 5s.
1935
General gold 5s
...1935
Kan & M 1st gu g 4s....1990
2d 20-year 5s
....1927
Tol P & W lrt gold 4s
1917
7478
82% Aug *13
103
103%
79% J'ly 13
105% Sep '12
87% Jan '13
82% Feb '14
106
1st cons GG-year 5s....1958 A-O
W O & W 1st
cy gu 4s
1924 F-A
WestN O 1st con g 6s
1914 J-J
\20-year
64l2
....
10512
....
1
>
...
100
Gen refund s f g 4s
1953 J-J
St L M Bge Ter gu g 5s..1930 A-O
Tex & Pac 1st gold 5s
2000 J-D
i
2d gold inc 5s
..$2000 Mch
,
....
100
Tol St L ft W
73%
102% 104
79is
101%
100
i
1
100
100
Spokane Internat 1st g 5s„_1955 J
rper A of St L 1st g 4Hs._1939 A-O
IA 1st con gold 5s
1894-1944 F-A
,
100
1920 M-S
_r
|
"90
871 *94%
100
General 5s
;
1936 M-N
Va & So'w'nlst gu 6s__2003 J-J
v
102"
101%101%
101
......1921 M-S
Series E 5s.
Series F 5s
k
Debenture
8
48
64
86
95
Am Hide & L 1st s f
g 6sIIIl919
Am«r Ice Secur deb
g 6 ...1925
Am Smelt
Securities s f 6s_1926
Am SpWts
Mfg g 0s
1915
Am Thread 1st col
tr 4s...1919
Am Tobacco
40-yr g 6s
1944
Registered
1944
Gold 4s
105%107
101%
10<%Deo '11
1938 M-S
..1948 A-O
Mob & Bir prior lien
>
no
102%
J-
.1956 M-N
\ Ga Midland 1st 3s
Ga Pac Ry 1st g 6s
t
100%
54%
82% J'ly *13
Sep 12
79
Sale
7834
79
101%.... 103% May'13
J-J
1936 J-J
May'13
Mch'13
12
81%
90
M-S
& Industrial
99
1% Sale
1
Sale
1949
S B 1st
AfeWurIn*
110
1930 F-A
14
J'no
13
5s_IHl922
5s
Trust Co ctfs
deposit.
Am Ag Ohem 1st
c 5s__
Am Cot OH ext
94
106*
1028s Sale 1017a
747g Sale
81%
f
....
No.
51%
49%
47%
14% Sale
95
1928 J-J
Wis Cent 50-vr
1st gen 4s._ 1949 J-J
Sup&Dul dfv & term lst4s '36 M-N
Feb '07
Sale 100
s
Allls-Ohalmers 1st
93
101% May'13
III! 101% J'ne'13
91% Sep '12
"88
86%
86%
97i8 l01%May'il
Sale 89%
90
5s...1930
Con 1st gold 5s
E Ten reor lien g 5s
i Knox & Ohio 1st
-
1948 J-J
1948 J-J
1949 A-O
Col^& GreenvLst 6s...Zil816
*
Winston-Salem
Am
1st consol g 5s
»
20-year equip
100" 100"
103" losu 105% J'ly '13
100
1stgBsII. 1926
RR 1st consol
4s
...
110
dl943 Nov
A-O
LE
Wheel Div 1st gold 5s
Exten & Impt gold 5s
91%
104<4
104
103% 102% J'ly '12
100
100% 105
J'ly'13
105
104% May'12
100
108
109% Sep '12
92
94
94
J'ly '13
110
119% Mch'10
100
104i2 106 Jan '13
08
" "91
88
Southern—
..
Wheeling&
88%
86%
102%
"1954 J-D
Income 5s
8912
60% Sale
High
10234
95%
90
80
63% Sale
"49" "62%
West Maryland 1st
g 4s...1952 A-O
West N Y & Pa 1st
g 5s___1937 J-J
Gen gold 4s
1943 A-O
105
Southern Pacific Co—
Gold 4s (Cent Pac coll).*1940 J-D
Registered
*1940 J-D
*80
...
102% 103%
96%
....
......
Trust Co certfs..
Wash Terml 1st
gu 3^8—.1945 F-A
1st 40-year guar 4s
1945 F-A
103%103%
Ask Low
xcvii.
s
Range or
Last Sale
49
Det ft Ch Ext 1st
g 5s
1941 J-J
Des Moin Div 1st
g 4s...1939 J-J
Om Div 1st g
3Hs
1941 A-O
Tol ft Ch Div 1st
g 4s
1941 M-S
Wab Pitts Term 1st
g 4s—1954 J-D
Cent and Old Col Tr
Co certs.
Columbia Tr Co ctfs..
86
Week
Friday
August 8
102% Sale 101%
95
96
95%
_
"66"% "77%
84% Mch'13
....
1939 F-A
Equit Trust Co ctfs...
Do
Stamped
"85" "85%
"74
74
A,
1939 M-N
Cent Trust Co ctfs..
Do
Stamped
1950 A-O
_.ol940 F-A
;
Price
gfc
Debenture Series B
1939 J
1st lien equip s fd
g 5s
1921 M-S
1st lien 50-yr
g term 4s..l954 J-J
1st ref and ext
g 4s_._.._1956 J-J
'09
Oct
Ending August 8.
[Vol.
Bid
"79"% "85%
85% Feb '13
J'ly'13
BONDS
STOCK
EXCHANGE
1X7abash 1st gold 5s
V V
2d gold 5s
99%100%
84% 90
22
Y.
Week
14
...
J-D
N.
Since
Jan. 1
1943 J-J
A-O
..1959 A-O
4s._el933 M-S
g 4s
1949 J-J
■
108
7U« Sale
Range
or
Ask Low
107
Gray's lJt Ter lstgu g5sll947 J-D
S Aft A Pass
lstgu g4s
8FA NP 1st sink Ig5s
Range
77% J'ly 12
103% J'ly '12
QQ
99% May'13
"86 " Sale 8578
86
79
79
J'ly'13
77
77i2 77%
7734
*95
101% Apr 07
81% Sale 80%
81»4
_
^
Week's
Last Sale
Did
1928 M-N
Ry ref g 4s_1936 A-O
K O Ft 8 & M
Price
Friday
August 8
Record—Concluded—Page 4
1950
100
104
M
J'ne 11
J*l/13j
MISCELLANEOUS BONDS—Concluded.
i
.
Coal & Iron
Buff & Susq Iron s f 5s....1932 J-D
Debenture 5s
«192C 'M-S
Ool F & I Co gen s f
g 6s...1943 F-A
Miscellaneous
86
*
93%
M-N
103
F-A
82
J-D
J-D
A-O
m m,
*
No
Sale
92%
100
80%
99
857,
82%
99%
101
102
101
102
*
103
80
92%
75
93
J'ly
'22
J'ne
*E
*13
95% J'ly *13
107% J'ne '12
82
83
J'ne'11
93
Oct '12
75
75
93%
99%
77%
*85"
Adams Ex coll tr g 4S......1948
Armour & Co 1st real est4%s '39
Bush Terminal 1st 4s......1952
Consol 5s ..............1955
Bldgs 5s guar tax
ex
79
79%
90% Sale
79
79
J-D
90
90%
A-O
89%
89
Sale
89
89
89
89%
92
94
May'13
94
96
85%
85%
J'ly '13
85%
94
1
190
|
M-S
J-J
..I960 A-O
Ohino Copper 1st conv 6s
102% Apr '08
155
170
140
97
98
96
96
60
61
78
SO
79%
79%j
86%
09% May 13
86% J'ne'13
82
May'13
68
98
Int Navigation 1st s r 5s...1929 F-A
86% J'ne'13
88
80%
99%
73
877b
80%
Mge Bond (N Y) 4s ser 2..1966
10-20 yr 5s series 3
1932
Morris ft Co 1st s f 4Hs...l939
N Y Dock 50-yr 1st g 4s
.1951
Niag Falls Pow 1st 5s...
1932
80%
99%
101
Apr '13
100% J'ly '13
103
J'ly '13
"80" May '13
92
92%
e Due
99% 103
101
103
100% 102
103
103
"79% "80 "
92
98
85% Sale
1921 J-J
Inspir Cons Cop 1st 0s (rects)..
Int Mercan Marine 4J^s
1922 a"A5
Jan '18
pric? Friday; latest bldwd asked. .aJDue Jan. 4 Due
April,
28
85
98
emmmm
.
*
98
...,
Kan & HC&C lstsfg 5s_1951 J-J
Pocah Con Collier 1st s r 5s. 1957
J-J
StL RockMt& P 1st 5s._.1955 J-J
Tenn Coal gen 5s
..1951 J-J
Blrm Div 1st consol 6s
1917 J-J
Tenn Div 1st g 6s
al9l7 A-O
Oah O M Co 1st gu g 6s._1922 J-D
Utah Fuel 1st g 6s........1931 M-S
Victor Fuel 1st 8 f 5s
...1953 J-J
Va Iron Coal&Ookelstg 5s 1949 M-S
97
80
60% S&le
A-O
J-J
J -J
F-A
J-J
Ontario Transmission 5s...1945 M-N
Pub Serv Corp N J gen 5s_„1959 A-O
RayConsCopper 1st conv 6sl921 J-J
Wash Water Pow 1st 5s
1939 J-J
May. a Due June. 6 Due July. I Due Aug, 0 Due Oct.
....
....
100
....
81
104
101
90
92
9 Due N«r.
102
t
82%
122
92
94% 108%
66l2 66%
75% 79%
100
Dec '12
90
89% 90
1067, Sale 104%
100
79
90
1067.
Deo '12
Dm Dm. < Option
1
CHICAGO STOCK EXCHANGE-Stock Record.
STOCKS—HIGHEST AND LOWEST SALE PRICES
Sales
of the
Saturday
Monday
Tuesday
Wednesday
Aug. 2
Aug. 4
Aug. 5
Aug. 6
Thursday
Aug. 7
Friday
Week
Aug. 8
Shares
353
STOCKS
Range for Precious
STOCK
EXCHANGE
CHICAGO
Range for Year 1913
Lowest
Year (1912)
Highest
Lowest
Highest
'
♦
30
7*2
3*2
*7*4
•3
*15
m-rnmm
*30
m-m-
*6
263s
*7*4
7
♦30
tommm
3184
32
32
93
92*2
,
130
44
7
440
*
130
*
33*4
3312
93
93
44
*97
*97
97*4
128*2 128*2 *128
129
*51
53
*51
*78
79*2
*78
"52l"2
"52"
62l2
5212
205
205
205
142
142
142
142
10*4
10*4
110*2 III
Nov'12
July'13
Streets W Stable C L.100
933s
*---.
440
130
*40~
33*4
93*2
44
97
*96
97
129
*128
129
77
....
•
67
97
129
..
4- [
m
-
-
Last Sale 77
—■
100
100
100*2 10212
102
102
31
*30
31
*30
31
*30
31
Last Sale 29
♦96
97
*96
97
*96
97
*96
97
Last Sale 97
65
65
»
9934 1,00*2
65*2
•74
77
6434
*74
77
*74
118*2 118*2 *118
120
6434
*
77
*74
77
120
*118
120
*118
120
*116
120
*116
120
♦114*2 116
116
116
♦114
116
♦113
*113
120
*116
*113
....
*41
42
♦41
42
*41
42
92
*89
92
*89
92
*89
92
♦75
*75
80
9212
92*2
*16
80
92l2
18
•42
*16
43
40*2
114*4 11434
114*4 11434
*70
*70
92l2
80
90*2
18
*16
40*2
*38
168*8 169*2
168&S 171
*119*2
*119l2
90*2
40
119
173
120
*21 ■'
24
*21
24
*21
24
*21
24
♦83
86
*83
86
♦83
86
*83
86
1043s 1045s
*21212
1043s 104*2
♦215
*212l2
*102
104
♦151
155
10434 105*8
*102
104
*151
' 155
225
*38
*215
225
103
103
*
*
1
"58*2
*109
5*2
^
*156
158
587g
110
15
*10
....
156
156
6*2
6
*
60
60*2 61*2
10934 109»4
*10
*10
15
15
534
534
61*2
61*2
*
1
109*2 10934
....
45
2
100
Feb
3
138
Dec
3
39
Mch
89?g Jan
6
77
Mch
J an 29
49
Feb
Fisheries
Do
1st
com.
pref
*89
""256
45
Chicago Title & Trust 100
Ref Co
pref
.
"166
Pacific Gas & El Co—100
'""769 People's
"~"io
40
Stock.f
Surp. 4
Profits t
(00s om it ted.)
In
1%
1912.
159*4 161
634
6
Do
Do
""757
com
pref__
103
161
161
58
534
l0984 10934
Last Sale 11
183
Per
$191,3
2M
6
None
100i0
65,5
r22,5 Org. J an. 27
200,0
250,0
rl6,7 Beg. b us. Oct
Cont & Com Nat- 21,600,0 10,094,9
10
10
Corn Exch Nat—
16
16
3,000,0 6.413,5
Drexel State
6
6
*200,0
113,0
•Drovers' National
10
10
750,0
382.6
Englewood State8
200,0
60.5
6H
First National— 10,000,0 12,028,9
12
17
12
Fir8tNatEnglew'd
150.0
1*229,7
12*4
Foreman Bros...
Prlv ate Ba
567.7
1,000,0
Ft Dearborp Nat.
'8
8
831,5
2,000,0
Halsted St State.
200,0
U22,0 Org.N ov 25
Hlbernlan Bk Assn
2,000,0 1,196,8 Notpu bllshed
Hyde Park State.
200,0
r35,0 Beg. b us Aug
10
10
Kaapar State....
400,0
215,7
Lake View State.
200,0
r4,4 Beg. b us .Apr
;Lawndale State..
200,0
59,4
16" l6&2c
614,4
;,Ltve Stk Exch Nat 1,250,0
t Mech 4Trad State
200,0
r52,6 Beg. b us. Aug
8
8
I Nat Bk of Repub. 2,000,0 1,481,4
G
6
2,000,0
744,7
j National City
6
6
250,0
115,0
(National Produce
North Ave State,
7
7
200,0
101.2
i North Side St Sav
6
6
rlO,6
200,0
North West State
5
6
r48,6
*200,0
200,0
7,7 O^g. N OV. 27
fOgden Ave State.
10
People's Stk Yds St
600,0
9X
94,9
Second Security..
rl5,9 Beg. b us Nov
200,0
6
6
Security
182.3
400,0
_
$200,0
July '13, 1M
Jan '13,
6
V.95,p.1585
7'12 V. 95, p. 944
Q-J July '13,
3
Q-J July '13, 4
Q-J July '13, IX
■
.
South Chicago Sav
South Side State.
State Bank of Chic
State Bank of Italy
Stock Yards Sav.
Union Bk of Chic.
Washlngt'nPkNat
Central Tr Co of 111
Chicago City B4T
Chicago Sav B 4T
Chicago Title 4 Tr
Colonial Tr 4 Sav
Cont & Com Tr& S
Drovers Tr 4 Sav
First Trust & Sav
Ft Dearborn Tr & S
Franklin Tr & Sav
,Greenebaum Sons
Guarantee Tr & S
Harris Tr 4 Sav._
'Home Bank 4 Tr.
Illinois Tr & Sav.
Kenwood Tr4 Sav
LakeVlewTr&Sav
La Salle St Tr & Sav
200,0
130.0
8
8
200,0
20.1
6
6
1,500,0
200,0
250,0
600,0
100,0
252.1
6
10
1,000,0
311,7
6
115
142
146
283
284
415
com...
Standard Tr & Sav
255
438
Q-J
July *13,' 2
1912
note
200,0
3,000,0
200,0
600,0
Northern Tr Co..
1,500,0
Nor-West Tr A S
250,0
Old Colony Tr & S
People's Tr & Sav
600,0
Pullman Tr & Sav
300,0
Sheridan Tr & Sav
200,0
200,0
'
6
86,7
280.4 Beg.
28.6 Org.
r27,5 Org.
r39,7 Beg.
7.082.0
255
(if)
15
c Due Feb.
J'ne 11
100
87U Mch 24
1,586,0
842c
132.5
842C
106,7
Inter¬
est
Week ending Aug 8.
period
134
219
180
162
Q-J
135
145
July *13,
.J'ly 1'12 V. 94,
125
128
7*185
195
100
110
250
...
250
260
215
143
182
225
214
218
300
330
144
146
204X205X
220
01)
255
...
160
165
t
Q-J
155
450
148
150
485
Chlo
1927 F
10
04i2 Apr
987g Nov
99i2 Apr *103*2 Oct
Jan
221*2 NOV
125*4 J'ne
49
Aug
92
Dec
97*2 Aug
9834 Jan
109*4 Apr
215
Jan
105*2 Jan
*13534 May
397
NOV
110
Jan
234
NOV
""
3g May
58*g Feb
""6"
i7g Jan"
80*2 Sep
"l~5 "Nov
Sep
Last Paid.
% Bid.
Ark.
*12.
V. 95, p. 18. 120
Q-M July '13, IX 160
J-J July 13,
148
3
QM J'ne30T3,2
122
---
.
165
j
153
j
---
300
Q-M J*ne30T3,3
Q-J JuiyT3,
2X 210
;
•
5
217
Week's
B'ds
Range
Sold
for
Year 1913
91
77
t-„.
*"89*
Chic Ry Adj Inc 4s...cl927 Mayl
1923 J -D
Cicero Gas Co ref G m__1932 J-J
Commonw-Edlson 5s
1943 M- S
5s
Lake St El—1st 5e.
1928 J-J
Metr W Side El 1st 4s... 1938 F-A
Extension g 4s
;■
.1938 J - J
Sale
1939 J-J
1952 M-N
Tri-City
275
285
180
Ry
4
trust Hen s f 5s
Lt
1924
83
93
3
90
94
100*4
94»4
77*8
83
57
93
93
"72" "75"
45
32
100
58
99*a I017a
*14
"997g
4
103*8
99*8 102*2
99*4 100*2
102*4 108*a
"99" "99"
July'13
99
Jan
80
'12
'13
' 81*a
'
'U
4
80
1047* Aprll'12
95
April'12
86I4
86*4
10034 May '12
103*4 Aprll'12
100
100
94
Jan
T3
87
"87
78
82
76*a
81
86*4
89
100
100
Sale
June'13
94
991a 100*«
94
93 *a
97
1
99*a 102
i
115*2 Sept'12
j"-"j
t »1
1914 J-J X 987|
Sale
997g
9234
92
99*2
10034
101
10078
July'13
100
995s
100
99*4 July'13
92*4 July' 13
91
July'13
99ia July'13
I
103
993s 100*1
99*4 100*4
91la 97«s
90*a $3*4
09*4 100*4
98*4 Aprll'12
Union Elec (Loop) 5s....1945 A-O
U 8 Gypsum 1st g 5s
1922 M- S
-
Oct
87
80*2
95*2 Sept *12
coll
...1923 A-O
Western Elec Co 6s...—1922 J
90
100*4 July *11
Consum Gas 1st 5s
100
1936 J -D
Mutual Fuel Gas 1st 5s 1947 M-N X.—
Pub Serv Co 1st ref g 63.1958
t—.
South Side Elev 4«s
Swift 4 Co 1st g 6s
112
86*4
1007* Sale
10134
C 1st 53.1937 J-J tioo
134
300
80*2 Sale
Nor Shore El 1st g 5s
1922 A-O
do
1st & ref g 6a... 1940 A-O X 98
Nor Sh Gas of 111 1st 5S..1937 f-A
325
3
9934 Aprll'12
99
Morris & Co 4Hs
Nat Tube 1st g 53
215
105
99*4 June'13
103*2 July '13
104i2
94)2
Refunding gold 5s
295
100
99
917g
9
'13
Sale
104
91
8978
'12
100
Mil El Ry & Lt 1st g 53..1926 f-A *103
do
94
ref 4 ext 4H3--1931 J-J
320
Jan
Jan
100*4
Sale
129
93
High
91
99*8 1017a
7978
89
9218 98*4
June'13
Sale
80
205
80
9218 July'13
88*2
893s
97*8
98
9U2
92*4
8U4
.83*8
95
■4934
Sale
1913 M-N
Chic Gas L &
8214 Aprll'12
96*8 May *12
100*4
101
90
45
Low
"16
105*a ApriiT2
115
426
Sale
Inland Steel 1st M g 6s—1928
Kan City Ry 4 Light Co
110
422
Sale
100
Elec 5s...61943 M- S iioo
1943 A-O
1947 M- S
172
82
No.
'13
90*8
72l2
'
72l2
49*4 July'13
997S
100*8
96*8 Dec '12
10034
101
Cudahy Pack 1st M 5S...1924 M-N t 99*4
Dla Match Con deb 6s
1920
1102*4
Gen Mot 6% 1st Lnotes. 1915 A-O X 98
Int Har 3-yr 5% g notes.1915 F-A
1945 M-N
125
$"72*2
Chicago Telephone 5s
Peop Gas L & C 1st 6s
176
.Sale
High
Feb
90
100
J-J
Ogden Gas 5s
593 116
96
A X
195
484 165
79
1913 F-A
6s.
RyPrmMg 4s_cl927
Commonw
Ask Low
X 77
—.
J|
85
Aprll'12
100
May'12
*99*8 loi"
99*a July'13
138
mus
t
be
laflded to all
Chicago
prioeja.
da^.f
$ Sept. 1 1911.
if
June 4 (close of business) for national banks and June 6 (opening of business) for State institutions.
$ Mo
Dividends not published; stock ail acquired by the Continental & Commercial National Bank,
c Die Deo. 8L'1
d Due Jan. 1.
e Extra dividend.h Ex-rlghts.
i Capital to be increased to $1,000,000; V. 97, p. 155. p June 27 1913.
f Dividends are paid Q.-J. with extra payments Q.-F.
r April 5 1913.
t Capital Increased U $300,000,
A9T,.80 1?1#..jl*$*,_34% aeoumutoted
Jf Nw.M 1911,
•
# 191$.
^
x
Range or
Last Sale
Sale
98
91*2 Sale
series "B" J -D
83*8 Sale
series "C" F-A t 93*8
9334
-
208
IX 133
8
842c
series "A" A-O
492
p.
July'13,
Chicago Rys 5s
Chic Rys 5s
Chic Rys 4s
Chic Rys 4s
Chlo Rys coll
185
p.
"...
Dec
Dec *107*2 Apr
Price
I
IX 200
Q-J July '13, 4
Q-J July'13,
IX
Ap 10 '1 l.V.92,p.l004
8
Q-J J'ne30'13,2
8
J-J July '13, 4
3
~9~0~*8
1928
North West El 1st 4s
1911 M- S
N W G L & Coke Co Ss-1928 Q-M
16
80
98
Friday
Bid
Chic Pneu Tool 1st 5s__al921 J-J
Q-J
Q-J
2
Jan
Aug. 8,
Chicago City Ry 53
101
1927 F - A
Chic City & Con Rys 5s.dl927 A - O t—.
Chicago Elev Ry 5s
1914 J-J
145
Apr
"l223g"6ct"
BONDS
Cal Gas & El unlf & ref 5s 1937 M-N
216
Jan
67
140
6
1412 Jan
112
9*
257
175
120
10934 Aug 4
$r23,8 Org. J uly 6
429.4
"e"
""<T
51,2
225
250
Q-M J'ne30'13,3
26'1 2 V 95, p 593 130
215
Q-J J'ne 30*13,2
May'13,
t
12U2 Jan
307g J'ly
Feb 15
108*2 Feb 15
2061J Jan 10
6i2 J'ly
9
1*2 Feb 10
2
6834 Jan
iod.
1939 J -D
July 13,
280
Per¬
1929 J-J
Q-J
J'ly
x
Feb 13
1077g Mch
In
Armour & Co 4Hs
Auto Elec 1st M 6s
M-N
Feb
61
94i2 Dec
21434 Jan
2
12434 Feb 17
1912.
Am Tel & Tel coll 4s
1H
July '13, IX
July'13. 1 Yi
Q-J,.July '13, IX
Q-J 'July 13.
1H
'12.
V.95,p.1944
Q-J July'13,
2*4
I'll V.93, p.1235
Q-J July T3j 2
Q-J July'13,
2
Q-J July'13,
IX
x
1911.
116
July 13,
115
Feb 21
In
240
Q-J
Mch
103it Jan
x
34
103
x
8212 Jan 25
6
Dec
12214 Oct
24
973g Feb
May
135
382
Bid and asked prices; no sales were made on this
Jan 17
236
July *13, 5
8
2.885.1
8
pl50,4
r52,7 Beg. b us.J'ne I'll V.92,p.1537
220.5
8
Q-J July '13, 2X
8
304,2
Q-J. J'ne30'13,2
51 *
1
50
(ID
378
Q-J July '13, 3
.Aug 19*1 2 V, 95, p.523 140
10
300
Q-M J'Dfi 30 '13,4
US.
148i2 J'ne 10
514 J'ly 31
8*11 V. 92, p. 1004 110
215
Q-J July *13, 2,
JsJ
114
lODg Jan 13
69
an
10512 Dec
Chicago Bond Record
265
135
72.2
rl02,6 Com .b
price Friday; latest price this week.
ginning April 18.
J'ne 12
9934 J'ne 24
136
b us. Ma y'10
*12.
D ec. 6
S ept. 5 '12. V. 95,
us
J'ne 11
100
Note—Accrued Interest
LiDfiO..
Mayl9
2334 J'ly 29
V. 95, p.273. 132
6
b
J'ne 11
117
CHICAGO STOCK
4
Michigan Ave Tr.
Mid-City Tr & Sav
•
155
j'ly
87
Opt
IID4 Feb
8OI2 Sep
102i2 Mch
73*2 Sep
1267g Sep
70*g Aug
16Ug Apr
130*4 May
135
Sfep
180
130
se e
'12.
8
72,263,2
488.4 842c
3,000,0 1,911,8 Notpu bUshed —se e note (If)
250.0
10
159,4
8X
Q-J July '13, 2X
16
None Q-M Dec30'll, 4
5,000,0 3.058.0
250,0
16,7 Beg. b us Apr 3*11 V.92, p.929
300,0
101,9 Beg. b us .Apr 8'12 V.94, p.1030
10
290.7
1,500,0
2X
Q-J J'ne30'13,2J4
6
J^F July '13, 3
200,0
52,0
12"
12
1,600,0 2.779.1
Q-J July'13,
3
us
300,0
r71,7 Beg. b
.Apr 10 T l.V.92,p.l004
6,000,0 10,249,7 1644e 1644c
July'13.
4
7
742e
200,0
101.8
CFJ July *13, 1H
Merc'ntileTr&Sav
j 6 Due June,
J'ly 10
90l2 J'ly 23
25
Apr 25
40i2 Aug 4
exchange
3
5X
Q-J July'13,
2)4
1042c J-J July '13, 6
6
Q-J July '13, IX
8
Q-J July'13,
2
842c
Q-J July'13,
2*4
<600,0
Woodlawn Tr & S
nk
8
6,600,0
116%
105l2 Feb 19
9
J'ly 22
$200,0
1,000,0
200,0
1,200,0
400,0
200,0
216
Q-M Jne 30'13, 4*4 420
Q-M Jne 30 *13, 2i2 330
6«
8
J'ne 10
Capital Surp. &
Stock, t Profits.X
West Side Tr & Sav
July '13, 2 X 250
175
July '13, 2
Q-J
J'ne 27
65
100
100
Stone
Union Trust Co..
150
110
130
6
6
218
An
12
us
8
4,500,0
600,0
Merchants' L & Tr
Market Tr & Sav.
12
2,603,0
49,8 Beg. b
rl81,l
20,0
2,102,0
396.2
1,000,0
250,0
200,0
250,0
Liberty Tr & Sav
100
123
35
111*2 J'ly 14
Ward, Montg'y & Co pref
Southwest Tr & S
Ask.
410
2
21*2 Oct
Dividend Record
'13.
Q-J
J
104
195
Stockmen's Tr & S
Calumet National
Dec
56
14
3
Quaker Oats Co_100
NAME.
Last Paid.
Bid.
97
93uJan
'7612 Jan 31
Jan 23
115
14
(OOj om Uted.)
iod.
Dec
100
Do
Woolworth,
J'ly
63
122i2 Feb 17
118
Jan 25
63
Jan 27
101
Western
July'13
Oct
103
Jan
Do
rights
Unit Box Bd & P Co.100
100
1,525 U S Steel com.
July'13
61*2 623s
109*2 109*2
62*8
87
3
Feb 13
12812 Jan
807
6
53
,
J'ne
Co..—.—100
pref-.135 Union Carbide Co
•
Feb 11
77
IIOI4 Feb
J'ne 12
Mchl9
pref
100
common.--.100
pref
-100
Swift &
The
July'13
103
Last Sale 1*8
,61*2
Capital State
Central Mfg Dlst.
Mch
113
Studebaker Corp com.100
Dec'12
iMst Sale 9134 May'13
1911.
J'ne
150
118
.
10434 10484
....
16
♦10
222
1612 Jan 31
100
3,450 Sears-Roebuck com..100
Do
20
pref
100
120
2334 July'13
Last Sale 215
Do
Rumely
55i2 Oct
Jan
13514 Jan
10
Feb
100
-100
:
Mch
184
67
preferred.
100
Gas L&Coke.lOO
Pub Serv of No 111
"~145
172l2 175
120
pref
Do
J'ne
65"'g May
7
Mch22
Do
.
Dec
95
5
Feb 11
105
70
Jan
94
Carbon-
,
Jan
J'ne 30
DMdend Record
Capital
State.
77
44
Oct
145
Mch 18
pref
53i2 J'ly 25
61
106*8 Oct
1987g Mch
212
98
National
55
Aug
10
28
'""200
55
1
26
..100
"'105
500
J'ne 10
8
100
Diamond Match
Do
91*2
Apr'13
•
*38
40
120
Last Sale
1
5
10
8
12
coml 00
Knickerbocker Ice pf-100
National Biscuit
100
92"
Last Sale 92
109*2 10934
J'ne
73*2 J'ne
40
J'ly
4712 J'ne
200
Apr
I25t2 J'ne
Goodrich (B.F.) com.100
HartShaff& Marx pflOO
Chicago Banks and Trust Companies
American
50
100
60 llinois Brick
Cl*2
104*2 104*>8
i
....
NAME.
100
Cal & Chic Canal & D 100
Chic Pneumatic Tool. 100
'
♦10212 103*2
534
1
"68*2
'4....
173®4 175*2
'
+
13
13934 Jan
71
Jan
July'13
40*2
....
*116
'
mmmm
Jan
10312 Jan
J'ne 10
May'13
92
Oct
J'ly 15
J'ly 9
Do
..
6
35
97
"~40l
J'.. "
1414 Aug
42
Aug'13
Last Sale 25
104*2 105
Apr
Last Sale 763s
«...
174i2
*116
J 'ly
135
200 Corn Prod
114*4 114*4
Last Sale 68*2 June'13
40
♦38
17034 17278
119
rnrnmmf
Sep
405
288 Commonw'tb- Edison. 100
114*4 115
18
126
Feb
Jan
J'ly 15
40*2
90*2
*16
Feb
131
v
J'ne 12
*89
80
90*2
18
91
325
100
64
•
Oct
May
4
126
65
....
J'no
47
Feb 11
J'ne
135
American
100
118
52
IU2 Jan
4fli2 Jan 31
129U Jan 80
100
117
Mch
Jan
2U2 J'ne 10
Internat Harvester Col 00
Last Sale 119
Jan
67g Jan
25
Sep
60'2 Jan
1178 Apr
Miscellaneous
•—100
July'13
118
11
Oct
J'ne 10
July'13
65
65
Jan
J'ne
3
100
pref
"
....
38
6
J'ne 11
June'13
Last Sale 113
42
114*4 11434
....
Apr
933.1 Jan
19»4 NOV
40
Last Sale 107
115
♦113
*41
*89
113*4 114
65
65*2
*11412 116
*116
-mmiim
2712 J'ly 28
8I2 Jan
2
458 Apr 5
40
104*8 Jan
J'ne 18
Feb'13
*30
Dec
81
•
'
May
83
9*2 Jah
3
45
MchlS
Booth
....
90
J'ne 28
130
July'13
52
"52"
52l2
5212
52l2
523s
*204*2 205*2 ♦20412 205*2 ♦204*2 205*2 *204*2 205*2
142
140
140
140
142
142
142
142*4
11
*10*2 11
*10*2
♦10*2
11
10*4
10*4
6
9
J'ne
Nov
Jan 20
435
"""16
.
512 J'ne
2
,
Radiator—100
June'13
77
Last Sale 50
67
102
pref
100
Amer Shipbuilding.__100
"""16
Do
pref
__100
100 Amer Telep Jc Teleg._100
—...
july'13
*96
129
Last Sale 50
♦51*4
♦75
....
-
91
Jan 14
J'ne 10
25
18
Do
Last Sale 44
*96
*128
*75
June'13
J'lylG
88
3
6*2 J'ne 6
45
MchlS
1,850 American Can
450
Do
pref
130
70
18
Jan
30
4
16i4 J'ly 24
Do
3312
93*4
93*4
2412 J'ne
-
Mar'13
Last Sale 440
130
98
*51*4
93
33
3334
93*2
129
*
*92
2634
98
79l2
205
34*8
933a
*""
44
Last Sale 41
Last Sale 6*2
Last Sale 45
July'13
93
*128
53
57
3338
130
*40
97*4
57
40
440
■
*40
7
*__.
Last Sale 70
26*2 2684
Last Sale 7*4
July'13
Last Sale 3*2
July'13
Last Sale 16*4 July'13
mm-m
*6
40
Jun '13
2634
3*8
♦30
*6
3278
9212
*....• 440
"
*30
Last Sale 28
*92
.
♦15
*
40
93
27*8
7*2
♦7*4
*2*2
*15
7
*_..
•92*2
*40"
*7*4
90
26
27*8
7*2
3*2
*3
3*2
mmmm
*6
40
•"
7*2
♦3
*15
"
*92"
93
26*4
Railroads
Chicago Elev Rys comlOO
Do
pref
-100
10 Chic Rys part ctf ."1"—
1,642 Chic Rys part ctf "2"
Chic Rys part ctf "3".—
Chic Rys part ctf "4"
Kansas City Ry & Lt.100
Do
pref
100
80
♦
90
•92
92*2
29
«
30
*
90
"mz
92l2
26
25«4
"
♦
90
♦91*a
♦
30
* Salee reported be ,f
V. 96, 9,1464, 111#,
»
•
•
-
•
BOSTON STOCK EXCHANGE—Stock: Record.
354
SHARE
Saturday
August 2
PRICES—NOT
Monday
August 4
CENTUM
PER
August
August 7
August 6
August 5
B OSTO
of the
Year 1912
100-share lots
of
Lowest
Shares
8
basis
On
8 TO G K
EXCHANGE
Week.
Friday
Range for Previous
Range Since Jan.. 1
Sales
PRICES
Thursday
Wednesday
Tuesday
Lowest
Highest
Railroads
96
96
•98U
•.--
987g
*9814
98»4
♦181
63"
6212
•250
1
"15"
•7X2
mmmm
63
250
•42"
"52"
•164
66l2
•42"
•200
•100
101
•42"
11712 Z115
117i2 *11512 11714 *116
*83
*83
84
84
*827s
8414
115
10112
101X2 101l2 ♦101
♦14
15
*14X2
1%
84
84
158
15
7412
*73
1%
1%
•163
165
•29
...
•H8X4 14868
•84
163
*160
*29
30
*29
♦160
165
163
165
*83
84
*130
140
163
Dec
250
Mayl4
290
Jan
3
290
Dec
7i2 Feb 19
10
Dec
163
Do
Central
20 Mass Electric Cos
Do
53
N
H.
...100
Old
75
Colony
Rutland, pref
100
Union
100
100
Pacific
Do
pref
73
*72
73
72
72X2
72
7212
*71-
88
•80
88
•86
88
86
88
88
88
*88
90
48
46
46
*4614
47
4684
4634
46i2
47
47
47
240 Amer
937S
94
9334
334
19X2
9334
235
*19
9334
334
10i2
no
114
100
298 West End St
72
Do
45
8
pref
Dec
7
Dec
50
Feb 14
Aug
May
165
107
Mch
Jan 13
260
122
Feb
8
119
126
Feb 10
124
85
Mch 27
83
Dec
110
Mch 13
125
Dec
16
Dec
5
193s Feb
4
79
Feb
5
130
Jan
9
10?l2 Oct
J'ly
Dec
J'ne
723s Deo
126
Dec
214 J'ly 22
Feb 21
115
J'ne25
130
158
J'ne21
17612 Feb 11
30
Mayl5
139ij J'ne 12
80i8 J'ne 10
130
May 15
100
Vermont & Mass
70
6
166
J'ne 28
9834 Aug
7
Jan 24
260
114 J'iy 22
Nortnern
May'13
♦.
J'ne 19
67
pref stamped .100
Rights
•86
.
100
5,463 N Y -N H& Hartford. 100
37,030
•71%
7234
.100
Men
7X4 Mch
45
82i2 J'ly 11
100
Apr 29
m J'ne 14
100
...
Maine
•127
72l2
pref
100
65
Mcb
43
200
June'13
Last Sale 130
140
pref
Connecticut River
140
mmmm
7i2 Feb 19
5712 J'ne 6
6
Feb 25
pref
Chic June Ry & USY.100
Do
pref
9
152i2 I52i2 *15214 152i2
July'13
Last Sale 86
1513s 1513„
•8284
83i2
*130
94
mmmm
mmmm
Last Sale 31
*29
15034 15034
14814 148X2
*8314 8414
84X2
•130
163
3
June'13
Last Sale 115
Nov
Jan
10
2
Dec
202
97
I01i2 J'ne 20
J'ly 9
9958 J'ly 16
151 Fitchburg pref
100
Aug 8
5 Ga Ry &Eiec stmpd.100 zll5
73U
1%
112
Jan 27
205
Do
98*4 loou
114X4 Jan 30
May 5
J'ne 12
Do
101i2
14i2
_
50
Boston & Wore Elec Cos.
84U
7314
74
10018 ioos4
1% 2
10012 10138
1%
134
IOU2
101i2 10U2 *101
14i2
14i2 •14
10U2
74i2
74
1003s 10078
1%
*101
10034 101
10U2 *101
•14
15
74
74
IOOI4 1005s
1*4
Last
♦200
*118
•83
•73
Last
Jan
181
Jxxn '13
102
117X2 *115X2 117
15
Last
Last
....
10378 Feb
101% Nov
21112 Sep
1013s Feb
100
Boston Suburban El Cos.
571, J'n '13
May'13
June'13
Sale 43
Sale 164 July'13
Sale 105 July'13
Sale 200 July'13
101
84
•14
52
165
100
IO6I4 Jan
215
Boston & Maine
100
8 Boston & Providence. 100
Last Sale 7
IO2"
•826a
7312
7312
wou 101
653s
—r
•101
•116
•100
*42~
*164
•105
65
190
712
Last Sale
66i2
8
52
*200
"
Ys"
*56l2
-
Last Sale 712
9534 J'ly
Apr 30
83i2 J'ne 30
100
100
Boston & Lowell-.
July'13
*250
65
♦250
*7l2
165
65
68X4
*
♦105
mm'
101
15
90
90
90
90
pref
Boston & Albany
216 Boston Elevated
39
J'nel2
94
Top & Santa Fe.100
Do
July'13
*■19812 200
Last Sale 983g
Last Sale 185
65
22 Atch
98's
98is
9768
•973s
92
♦250
66X2
♦164
mmmm
♦200
100
68"
8
52
165
*105"
98i4
91
250
*
8
166
•105
9714
*9734
•181
♦7l2
*56i2
15
•6612
*
•97
92
9112
♦181
63
*712
60
97»8
98i2
197x2 197i2 •198l2 200U •198X2 200
250
62%
250
•55
986s
•9814
19712
91*4 91s4
92
91%
•181
♦973s
195
19712
-
9878
Mch25
36
162i4 Jan
90ij Jan
6
9
Feb 27
150
12812 Oct
*174
J'ne
41
Jan
Dec
152
8i»i8 Sep
150
Dec
J'ly 3
J'ly 15
8
80
Oct
100
3
96
Nov
4414 J'ne 27
67
Jan 11
50
70
50
85
81i2 Feb
Jan
Miscellaneous
•
'
•93X2
94
94.
3X2
3X2
•19
94
11012 110i2
110
19i2
110i2
11312 11312
113
11312
128X4 12812
128
128l2
7614
•
"70"
7614
76I4
65
65
*63
6312
9312
♦612
9312
•93
9312
*6i2
"14"
*13
11
♦10
•16"
n__
*
*10
u
275
274
141
14U2
14034 14U2
*98l2
99
213
166
99
"*3i"s
•67
'm
m
•75
— m
147
147
147
153
153
153
27i2
♦
27l2
♦
170
169
169
47
47
47
47
47
47
463i
•2612
27
27
27i8
27
27i8
27
27
m-immm-
603s
615»
611,
6I84
60
5S84
108
1681® 170
10714 10714
108
6U4
6U,
6214
108i2 10812
107X4 IO784
McElwain(WH)lst pf 100
95
May26
104
87
Apr 28
86
108
..100
.100
pref
Mergenthaler Lino
Mexican
Do
78 N E
pref
Button-Hole
35 Recce
27
94
27i2
10
"l'oio
9
zl36
J'ne 18
Apr
6378 Apr
100
25
Do
pref
25
Union Copper L & M 25
Torrington
United Fruit
100
1,344 Un Shoe Mach Corp. 25
Do
135
pref
25
12,344 U S Steel Corp.
.100
71
Dp
pref
.......100
47
mmmm
623g
10Sl2
3i2 Feb
50
91i2Jan 11
7
15134 J'ly 31
14i2 Apr 15
101
J'ne 12
Jan 11
160
16512 Jan
1
1
280
1%
*275
I8I4
•H4
18l2
H2
32
32i2
69
69U
2014
•2l2
2014
234
*1%
lh
H4
26l2
II4
26X4
6234
898
18is
•lis
3112
7014
2OI4
•2i2
U4
13S
6314
395
20%
20l2
*2l2
IX4
3914
38l2
12
5
6%
I6I2
17
*".30~
5
GOI4
31
.30
.60
4
66s
4
1278
5
7
1712
SX2
49
*81
1914
35S
15s
7
212
12X2
♦412
6U4
31
82
3%
158
3
.70
49
658
121,
13
6
12l2
434
12l2
60
OU4
72i2
21
2»4
3912
5
7
6X2
71,
7
*17X4
1712
17
27
May
28
Jan
Jan
4
.85
Jan
182
Jan
3
h 174
28I4 Jan 20,
T-~
"
41i2 J'ne 10
5534 Feb
4
263s J'ne 24
50
J'ne 11
28i2 Feb
3
Jan
2
Sep
46I4 Jan
27i2 Deo
583s Feb
Jan 30
I07ia Feb
69
102X2 J'ne 10
111
1
Mayl2
6
Jan
275
J'ne 24
330
Jan
31
6X2
u2
4912
49
49-i4
82
82
82
20
19
19X2
Last Sale 30
.45
.45
5i2
6X2
52
52
•82
83
*82
83
19
19
19
19U
3&s
*3X2
2
*1X2
71,
37,
35s
2
-8X4
378
49X2
*3%,
♦Us
35s
36g
3i2
U4
U4
♦U2
65,
6^
7
7
35s
.
•
7
•334
♦61,
52i2
7
4l2
414
♦334
4%
*334
414
7
612
6X2
*63,
6X2
•01*
7
3
3
3
314
*3
3l2
3*A Z'At
*3
3i2
*3
*684
•2212
7
*684
714
7
714
73s
73S
♦7
714
22«s
*84
225,
U4
225$
714
2234
44
44
43X2
1658
1658
16
4312
1658
•UZ
85,
2
*184
-2
8%
834
28
28I4
283,
•
•
»63a
2234
•84
•22
lis
4H2
16's
41
•1578
•184
2
27
•.70
'
•
8%
85g
834
.
,
2
2
2
1
.99
1
.80
.80
5712
♦57
185s
35
*34
187,
*17,
2
714
25
.15
.20
24
24
712
245,
*
2%
28s
•261*
2712
4
4
.99
38%
3812
473g
4712
.15
2
•.70
8%
285,
4378
16i2
Us
283,
2
1*4
1
•.70
1
*312
35s
31,
4914
414
4914
76
4914
7712
493g
79
80
80
78
78
20!%
2014
2084
21
2178
59
68X2
22
60
19i2
36
75X2
76
20
20
211 Osceola
19X,
19
35
•341*
3478
35
2
2
2
2
214
750 Santa Fe
714
7
71,
65,
7
61,
6%
2,314 Shannon
235,
24
25
25
.20
212
2X2
27
27
A
4
♦
25
.15
X4
2514
25,
25i2
27
28U
.15
.20
25
25
25g
*41,
•
2412
*
25,
.85
41,
414
•25,
♦2712
41,
14
June'13
•25%
25X2
234
234
234
28
27%
28
41,
4U
4X4
.85
.99
39
39
39
39
4712
48
48
48
47X2
39x4
4734
»x2
17,
*884
9
4984
49X4
49*4
1%
15*
*13,
2
9
9«,
4814
4834
914
4934
4934
4034
1»4
Last Sale .88
17g
89i2
47%
48
mm
*1
i%
*1
U4
lit
*1
li4
50X2
.99
1»4
•lit
2
U<
1*4
1»4
*U2
1'4
134
4434
45U
4514
♦4312
46
4434
*a4
1
*a4
♦43
45
•Us
4434
.70
.70
•34
*
*1
1
•34
1
25
10
Coal
Ray* (fo'nsol~Copper
25
_
10
Mary's Min Land. 25
Gold & Cop. 10
..
10
Shattuck-Arizona
10
South Utah M & S__.
5
115 Superior
25
805 Superior & Boston Cop 10
250 Tamarack
415 Trinity
25
25
Copper
1
Ref & Min. 50
731
Do
pref
50
450 Utah-Apex Mining—.
5
655 Utah Consolidated-— / , 0
889 Utah Copper Co
Tuolumne
621 U S Smelt
mmmm
9
50i2
ix8
1%
4434
1
.
.
100
110
Victoria
Winona
40 Wolverine
50
Wyandott
25
25
25
25
'
» Rlii
nn$ tvflfcQiJ,
'
-Wt PAl1-
b
&Yt
ft FiWlgklflr
9-
.05
395
Jan
6
47x2 Jan
53
Jan
2
18
Jan
2
Jan 27
4
E*-dlv. and rkhL3.
j UnatAiaPfcL
Feb
1512 Dec
25X4 Feb
48i2Dec
3i2 Oct
12i4 Jan
67s Sep
914 J'ne 10
414 J 'no 9
61
J'ne 10
15i8 Jan
9
Jan
2
73x2 Jan
9i2Jan
2
2
33
5i2 J'ne 12
Jan
2
22
Apr 28
3
16
May
.70
Dec
J'ne 19
25
2778 Jan 10
35
14
% May 8
312 J'ne27
44U J'ne 12
79
J'ly
1
J'ne 10
16
258 Jan 14
Aug 6
J'ne 19
J'ne 4
J 'ne 12
J'ne 11
J'ne 10
2014 J'ne 10
114
5i8
314
478
214
5i2
2
2
llig Sep
59
Jan
4
40i2 Jan
85
33% Jan
2034 Jan
2
Apr
2
3% J'ly 25
4
33s Feb
2234 Dec
5x4 Jan
4i2 Feb
IOI4 Dec
10i2 Jan
512 Jan
1514 Jan
26i2 Jan
7
4
I8I4 Jan
65
2i2Jan
2
912 Mch29
34x3 Jan
2
234 Jan
314 Jan
83s Jan
3
l2 J'ne 6
Apr 30
4134 J'ne 10
73i2 J'ly 12
15
J'nelO
55
J'ne 11
15x4 J'nelO
83
J'ne 30
1
J'ne 12
6I4 J'ly 10
Feb 19
21
Jan
40
8
8
Apr
Jan
1934 Jan
22
J'nelO
1
Jan
21
J'nelO
2
3
May 15
.60
J'ly 23
34
J'nelO
45i2J'ly 7
l%May 6
7% May 6
40
J'nelO
,
Jan
Feb
Dec
Dec
Jan
44
Jan
Jan
100
Dec
28]4 Jan
80
Jan
22
Jan
15
Mch
72i2 Dec
16i8 Jan
46
Jan
43
Dec
3
Jan
l
Jan
13x2 Jan
28i2 Jan
9
.35
Jan 18
Feb
14 Dec
24
Feb
4
1
Dec
3
26
Jan
9
4
Deo
2
e4% Feb
Jan
6
Jan
38
Jan
17
401, Jan
3x2 Jan 28
2%Deo
43i2 Jan
50
Jan
2
34
Jan
6
47
Jan
23, Jan
1
III4 Jan
60
Jan
3
2
2
Jan
2
4i2 Jan
2
3
9
2
J'ne
Dec
Jan
76
.40
2
534
2234
2i8
li2
258
56
J'nelO
,
J an
Jan
Deo
Jan
107
1
J'ne 9
4014 J 'ne 12
.90
Dec
5
234
233g
1%
6t)i2
i2 J'nelO
Sho J'ne 10
May 17
Jan
.80
26i2 Jan
40% J'ly 30
13
J'nelO
.99
Jan
87i2Jan 10
2
2D4 J'nelO
Oct
84 Jan
Jan
J'ne 24
.95
Feb
7i2 Feb
17
......
July'13
39
"9
5
15
495
24
26
383i
9
24
142
525 St
Last Sale
•25U
38%
.99
.99
23t
29
29
4X2
♦
25
—
——
3,150 Pond Creek
2
71,
25
5
25 Ojibway Mining
25
1,820 Old Colony
25
620 Old Dominion Co—— 25
191,
134
«4
1,482 Nipissing Mines
4,897 North Butte
200 North Lake
35
712
—--
Consolidated.
Arcadian Copper 25
2
912
44
532 Nevada
257 New
19X4
H4
44
560 Mohawk
35
19
2o
5
25
1,925 Mayflower
55 Miami Copper.
Michigan-
19
*17,
25
25
Consol
35
2
69
•1
.60
Salle Copper
Valley Mines.
5 Mason
75 Mass
19
♦68
58
—
Oonsolidated.lOO
Greene-Cananea
20
Hancock Consolidated 25
Heciley Gold
10
Helvetia Copper
25
35
68
5
Feb
2
37)2 J'ne 10
2i2 Mayl3
21%
581,
19%
68
J'ne
.
Copper Range Con Co 100
Daly-West
20
1,392 East Butte Cop Min. 10
90 Franklin
25
44
16%
U,
48l2
6
24i2 Feb
405
55 La
35s
2i4J'ne
60
3014 J'ne 10
6%
334
2
Deo
3278 Feb 10
4% Mch 6
5
Mining
25
769 Island Creek Coal
1
5
Do
pref
1
2,777 Isle Royale Copper.. 25
429 Kerr Lake
5
10 Keweenaw Copper
25
795 Lake Copper Co
25
2834
3
2
35
8OI4 Jan
2
200
8% 8%
4214 Jan
J'ne 10
1634 J'ne 27
2
'210 Indiana
July'13
2912 J'ne 11
62
Apr-'
72i2 Jan
Jan
360
49i2
4734
1<4
91,
47%
Last Sale 1
Dec
555
3,745
8
22J4
2"
56i2 J'ne 11
Aug 4
10
J'ne 10
25
Hecla
-
312
35s
4912
241<
38%
47X4
.70
3it
48^
24X4
♦.85
*
49
312
225s
*6i2
•II4
4712
•
U2
28X4
20
„
I6I4
u4
*ll2
20
184
44
I6I4
2734
20
•9
43
2
7512
.85
,
27X2
49
•2434
•
»
•134
27
4834
75l2
•17a
7i«
1%
2
3%
•66X2
•188a
•3414
U4
10
♦34
312
48i4
7512
33s
2234
*34
42l2
8%
27
•1X2
•223,
U4
16
1^4
8% 8%
22 x2
♦84
41l2
,7
10834 J 'ne 10
45
May20
25
.45
6
Dec
300
0
3
4i2 Dec
215io J'ly
I9i2 Feb
57i2 Feb
July'13
.45
5
3
197, Aug
214 Jan
18% J'ne 10
1712
*5
4
3
2,023 Granby
7
1334 Jan
98i2 Jan
2
28i2 Jan 15
2
581
127,
Dec
Feb
158
4
250
5
Deo
9Q
Feb
829 Chino Copper
6II4, 62%
5
90
H8I4 Oct
Jan
144 Calumet &
121,
6
2
Mch
Dec
Jan
470 Centennial
212
Apr
93
7
420
*
Jan
4
Cop 10
(Ltd; 10
1,653 Calumet & Arizona— 10
1212
405,
40
155
103
45
Bos&CorbCop&SilMg
8,965 Butte & Sup Cop
40
5
5
1034 Jan
27212 Sep
114 J'ly H
100
30
6538
18
.70
Commercial.
935 Arizona
2912
6434
12X2
10
25
25
635 Allouez
355 Bu^te-Balaklava
415
25
25
5,841 Amalgamated Copper 100
3,105 Am Zinc Lead & Sm_ 25
1X2
612
1784
.35
...
Mining
Aigomah
u2
6034
*1
1*8
34i2
60
♦30
*
6512
415
2l2
3334
mmmm
30
12X2
4012
393s
2l2
14,665 Alaska Gold
1912
7134
2034
284
....
Ahmeek
20
234
645s
414
393s
♦81
*312
•Us
U2
3912
212
♦48
1834
U4
*114
2914
40
5
1S34
35s
•Hs
*6%
*35$
*.99
39
82
1834
2U4
13ls
191,
1958
Us
3334
'72
207S
234
40
49
I884
71
39
5
1
12l2
1914
U,
331,
40
-
.35
5X2
65
415
410
215 Adventure Con
•U4
1»2
July'13
u2
Last Sale 290
39%
•81
5i2
29
27»4
6412
nu
39
♦48
:
.99
%As 1*A
,
40
♦30
*
2078
23,
1
6434
17
16%
*30
*
205,
2i2
28
*212
1234
•4i2
6OI4
612
7
3478
7U2
.99
12
12X2
5
3334
70«4
lA
404
3
1978
1X2
Uz
12
-
10ia
•Us
27*
1
401
11S4
5934
6i2
1634
7U2
2078
*1X4
2734
6312
400
38
35
'
.99
2714
63l2
39
60
•
1%
♦38
63s
•
71
1134
3818
•4i2
.
33
234
•212
1
U4
276
•270
1984
1
71
12
3784
60
185,
Hz
1U
U4
276
33
•IH4
3734
"1214 "12%
♦275
185s
26X4
63i8
400
1X4
138
277
2
16i2 Apr
108
26% J'ly 18
27
Mch2S
34 J'ne 6
147
J'ne 24
8
2
Apr
Mining
•267
Aug
10% Aug
214i2 Deo
2% Mch
Jan 16
100
13
5
219sj> Apr 12
J'ne14
3
17
.100
10
Jan
Nov
75
J'ne 16
209
Telephone
8
2
7914 Nov
Z90I4 J'ne
z88i8 J'ly
10
100
7
28812 Jan 10
11334 Dec
114X4 Dec
137i2 Jan
22
Nov
93x2 Jan 22
953s Mch24
100
Telephone
N E Cotton Yarn
169
163
169
47
I7OI4
Feb
733 MassachusettsGasOosl 00
""16
July'13
Last Sale 34
1
*84
4034
168
585a
5878
8:10658 10712
1
*34
Aug
15
I8634 Jan
597 Swift & Co
♦27
•27
1
16
J'ne10
Do
7
8X4 Aug
130
10484 1051,
2712
28
Jan 23
100
Electric
102 Pullman Co
27
100
6
153i2 153i2
15is
151,
27
Jan 14
5
10
7
75
7
147
27
Apr 30
8112 Jan
J'no
153
1514
10414 1 047,
21
J'ne
147
*15
Mch
Jan
92
147
Aug
14
9
153
Y5I4
15id
9244 J'ly 23
5
Jan 10
100
Elec Ilium
,147
mm
1-051,
2712
27
27
July'13
Dec
3
257
40
312
Last Sale 66
*27
27
4612
147"
*31,
Deo
98
10
pref
Boston Land
573 General
91
June'13
*15
*27
167
312
9034
54
2
4i2Jan
3
2334 Jan 11
11812 Jan
3
11714 Feb 1
140i2 Jan
3
9914 Jan
100
Do
95 East
99l2
Last Sale 20
104
2712
27
•31,
28
2712
4612
*75
m
9034
10412 105
*15
•27
*34
312
50
*145
90*4
*9014
*98i2
pref
100
Amoskeag Manufacturing
Do
pref
43 Edison
90l2
9012
Last Sale 213
July'13
218
~*3is
j.
152
151s
15l8
10412 10478
9034
mmmm
*30
*145
1
*
*21
*22
99
9012
•90U
3is
3l«
3X2
99
9
125% J'ne 10
I834 Feb 28
74
May 8
69
Mav27
..100
Do
175
14034 141
J'ne
110
169 Atl Gulf & W I S S L.100
7i2
*270
1407S 141X2
99
•98l2
9O84
9034
100
16
16
16
2
mmmm
11
f211
♦%
71,
8X4
14
14
mmmm
274
218
27lZ
7*4
American Woolen
130
I
1
*10
90
•27
14
.
1
1
1
274
90
•15
1514
104l2 10434
734
1
11
90
147
63
*6212
1
2i2 J'ne 11
18i4J'ne 9
105
J'ne 12
50
pref
50
400 Amer Sugar Refin
100
Do
386
pref
100
1,803 Amer Telep & Teleg.100
761,
7614
6312
93I2
274
9014
•151
7614
*6212
7612
•10
90
•-...
7614
Service
J'ne 23
j.91
100
pref
Pneu
Do
55
June'13
7614
Last Sale 1738
mmmm
100
Agricul Chem
Do.
225 Amer
12914 12914
12S34 12914
12812 1287S
274
90
...
114
11
90
•66
114
15
90
*
114
275
90
312
IIOI4 11034
11412
10
90
...
111
114
•6l2
99
218
110
110
784
14
334
•270
140i2 141
,
334
19i2
11
275
*318
334
20
1912
mmmm
9812
•22
93i2
*
mmmm
140l2
9812
*312
65
mmmm
mmmm
275
140"
94
384
•312
1914
1914
11034 111
II3I2 114
12814 12812
18
*1612
7614
7614
334
♦3x4
•19
1914
94
1 if
Jan
Jan
Nov
9% J'ly
62% Jan
is4 Dec
3i# Dec
65
Dec
1
Dec
7f
..it,
■IN
AUG. 9
1913.]
Boston Bond Record
BONDS
Price
BOSTON STOCK EXCHANGE
Week Ending August 8.
August 8
Bid
Am
1028 A-O
1929 J-J
Agricul Chem 1st 5s
Telep A Tel coll tr 4s
Am
Convertible
Range
Atk Low
20-year conv 4 Jds
.1933
Am Writ Paper lstsf 5sg__1919 j~-~i
Am Zinc LAS deb 6s
1913 M-N
101i8
102
897* J'ne 12
Atch Top A 8 Fe gen g - s__l 995 A-O
Adjustment g 4s
July 1995 Nov
Stamped
July 1995 M-N
50-year conv 4s
1955 J-D
10-year conv 5s
.1917 J-D
Atl Gui & W I S3 Lines 5s. 1959 J-J
Bos A Corb 1st conv s f 6s..1923 M-N
Boston Elev 3
Boston &
95
96
84l2
83
1918
Boston & Maine 4
Plain 4s
1944
1942 F-A
95
Bur & Mo Riv
1918 J-J
101
cons 0s
J-J
"977, ~997S
~94% ""I
~98% "98%
Oh Milw & 8t P Dub D 6s_.1920 J-J
Ch M & St P Wis V div 6s__1920 J-J
Ch & No Mich 1st gu 5s
1931 M-N
Chic & W Mich gen 5s
1921 J-D
625g
50
85
101
102
100
85
91
93
94
94
100% Aug'i:-;
92
J'ly'13
8014 Sep '12
97I4
97%
1946 A-O
76
Dominion Coal 1st
1940 M-N
97
98
U4%
II"
-.1927 M-8
Fremt Elk & Mo V 1st 6s..1933 A-O
1933 A-O
95
Oct '12
122
Feb *13
122
Mch'12
1922 F-A
8s
1st 6s
Savannah Elec 1st
1923 J-D
95
92
" *92
90
Sale
98
101
75
97
NOTE.—Buyer pays accrued Interest la addition to the purchase price lor all Boston bonds.
93
101
101
11
1173, 1251,
17
107i2109
100
1031,
90
66
A.pr '07
90
J'ly'13
94
iooal
10W4
953, 953,
90
90
94
92
96%
955,
987, 10134
1915 F-A
1914 M-S
J'ly '13
987, J'ly '13
97
J'ly *13
99% J'ne'13
97
97
9914
—1018 ■M-N
97i, Feb '13
971,
9914
971,
981, Nov'11
9914
9914
935, Feb '12
"977j
100*8
93
Gold
4s_.
1917 F-A
Western Teleph & Tel 5s—1932 J-J
Wisconsin Cent 1st gen 4s„1949 J-J
122
90
99341011,
10034 Mch'13<
957, §53, J'ly *13
925,
943,
991,
9834
Apr 13
10034
Deo
",*97 "
9314
93
West End Street Ry 4s
Gold
4Hs—
debenture 4s
"94
70U Dec '10
1021, 100
J'ly 13
90
9G% 90
95%
921,
9312
80
Jan '11
103
....
901,
78
99l2 1013,
90
92i4 Meh'12
1173, J'ly '13
101
Apr '09
1067S 109% 1113, Oot, '1;
109
Sale 1071,
109
United Fruit gen s f 4M»~.1923 J-J
Debenture 4 Ms
1925 JJ
U S Steel Co 10-60-yr 5s Aprl963 M-N
Gold
955,
9334.
May'13
100*8 Sale 100i2
1929 J-J
Torrington 1st g 5s
1918 M-S
Union Pac RR & id gr g 4s_1947 J-J
20-year conv 4s
1927 J-J
"97"ii ~&9%
122"
1930 F-A
1919 M-N
g
95%
9-9
90
90l2
J'ne'08
9334
937,
Terre Haute Elec g 5s—
98
95
"
5s_.1952 J-J
cons
Shannon-Ariz 1st 6s
95
1932 F-A
1919 J-J
Seattle Elec 1st g 5s
1103s
92i2
Mch'13
95
4e—:—.—1824 F-A
Pond Creek Coal
May-12
J'ly '13
97l2Sep '11
95
1948 J-J
g
78i4 May'13
100
J'ne l3
115
1929 J-J
Puget Sd Elec Ry 1st 5s
Repub Valley 1st s f 6s
107
92"
93
Feb
763, Jan '13
90*2 Feb '13
Dec 1931 J-J
1917 J-J
Telephone 1st 5s
100
...
" Apr"'08
92
77
Mass Gas 4^s
Deben 4 Ms—
J'ly '13
»8%Mch'12
91
1934 M-S
94
Oreg Sh Line 1st
107
J'ne'13
10534
105341077s 113*8 Feb '11
«.«t
117
91
Kan C&MKyftBr 1st 5s_1929 A-O
Marq Hough & Ont 1-st 6s
1825 A-O
98
85is
9414
108I2113
768, 763,
95
98l4 1903j79l2 8612
9934
96%
957,
931,
IIII "SO"
May'13
9812 Dec '12
High
993,
10678108% 108i2 May'13
Conv deb 6s
Old Colony gold
100
Low
Kan O Ft Scott & Mem 6s..1928 M-N
New River (The) conv 5s_.1934 J-J
N Y N H A H con deb 3^8-1956 J-J
104l4 10414
J'ne '13
n
New Eng Cotton Yarn 5s—1929 F-A
New Eng Teleph 5s
1915 A-O
5s
1932 A-O
'12
J'ne'13
No
K C Ft S A M Ry ref 4s gu_1936 A-O
Kan O M & B gen 4s
.1934 M-S
Mich
83
1926 A-O
Unstamped 1st 6s.
"59 "
High
993, Apr '13
9434
95
943, J'ly '13
Since
Jan. L
"92 "92""
Assented income 5s
97
Cqc*S
13
8934
....
Current River 1st 5s.
Det Gr Rap A W 1st 4s
Fitchburg 4s
98
97
1921
99i2
Spr 1st 5s...1925 A-O
82
1920 J-D
f 5s
93
J'ly '13
9834
79% j'ne'13
Copper Range 1st 5s
.1949 A-O
Oudahy Pack (The) lstg 5* 1924 M-N
s
Kan C Clin A
98%
80
4s
98%
9434 Sale
Houston Elec 1st s f gen 5s_1925
la Falls A Sioux C 1st 7s...1917 A-O
lOtiJ
99
83
4s_1940 A-O
cons 4s
"Feb
98
1921 M-S
Concord & Mont
"28
1003,.... 1103 Oct '07
1927 M-N
g
Registered
10212 106
J'no'12
83
Illinois Div 3 Ms
1949 J-J
Chic Jet Ry A Stk Yds 5s__1915 J-J
refunding
General Motors 1st 5-yr 6s_1915 A-O
Gt Nor O B & Q coll tr 4s..1921 J-J
893*
Rang*
i|
or
Last Sale
Ask Low
Bid
102
86
Range
August 8
High
99
"41
104U J'ne*13
86
83
0 B & Q Iowa Dlv 1st 5S...1919! A-O
Iowa Dlv 1st 4s
1919 A-O
Denver Exten 4s
1922 F-A
Coll trust
Low
Week's
Friday
Week Ending August 8.
104%Oct 'OS
Butte El & Pow 1st 5s
1951 J-D
Cedar Rap & Mo Riv 1st 7s 1916 M-N
Cent Vermt Istg 4s
May 1920 Q-F
Nebraska Exten 4s
B & S W sf4s
NO
Price
BOSTON STOCK
Since
Jan. 1.
94
J'ly *13
878a Nov'12
89%J'ly '12
~96~78 "97"% 97 J'ly '13
995s 100l8 110% Mch'11
6012
60i2
50
May'13
95l» Feb '12
19014 Mch'00
1935 M-N
J-J
>yr g 4s
Lowell 4s
High
131
BONDS
EXCHANGE
Range
li
or
Last Sale
9934 Apr '13
88% Sale 873g
88I4
100% 101% 1033* Mch'13
1936 Aff-S
4s
Week's
Friday
355
98% .901,
86s, 871,
* No price Friday; latest bid and asked.
93
1 Flat prices.
'
^
-
'
»
-
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Teekiy, Yearly
SHARE
PRICES—NOT
PER
CENTUM
PRICES
ACTIVE STOCKS
Sales
Range for Previous,
of the
Saturday '
Aug. 2
1634
♦56
Monday
Tuesday
Aug. 4
Aug. 5
Thursday
Aug. 6
Week.
Friday
Aug. 7
Aug.
J'nelQ
120
Jan 16
96
Jan
117
101
J'ne 12
Jan
116
14
J'ne 10
120% Jan 31
23
Apr 4
101
100
57%
327
Do
pref tr ctfs. 100
Northern Central
50
114
109
*107
109
*101
109
17
17
17
17
581*
5034
6684
....
♦....
2612
17
57
57
57%
57%
20
*56%
116
115
19%
19%
*19
43
43
*43%
26%
26%
26»4
38
38
38
467,
467,
19%
....
26i2
17
20%
*19
43%
267,
27
2
115
*18%
Highest
Houston Oil tr ctfs
*103% 104% ♦103% 104%
♦107
225
19%
75
44%
267,
~26%
26%
2,521
38
*38
38%
22
I
(1912)
C45
104
109
17%
Year
Lowest
Highest
17
104
*107
17
Lowest
Baltimore
Con Gas El L A Pow.100
Do
prcf
100
105
109
17%
67
and Inactive
Slocks see below)
Bonds
102
10412 *103
♦107
17
Range since Jan. 1
(For
Shares
8
♦101
116
♦18i2
•42U
2612
Wednesday
101
66% J'ly 28
J'ly 16
141, J'ne 11
41% J'fy 19
,
Seaboard Air Line
100
Do
pref
100
United Ry A Electric* 50
23
Jan
6
Feb
6
68
123
21
8% Jan
5334 Jan
Jan
9
Apr
2
121
Dec
Jan 30
18
Dec
47% Jan 24
45% Mch
27% Apr
18% Jan
3
{
May,
Apr
25% Nov
72% J'ly
130
Apr
27% May
5534 .J no
265, Sep
,
Philadelphia
♦37i2
♦45i2
♦37
38
46
46
'46%
*37
837
38
47%
,47
47%
47
47%
*11%
25
23%
23%
84%
847,
*75%
75%
47
*20
2034
34
130
56% 56%
2,358
42%
42%
125
22
22
3,385
Lahigh Valley Transit
Do
pref
...
Pennsylvania RR..
Philadel Co (Pittsb)
Philadelphia Elects:.
23%
2,405
7934
4%
49%
8,041
25
*84
84%
25
84%
7534
*84%
75%
84%
75%
*20
21
34
34
*33%
745,
♦75%
*75%
757,
21%
*20%
*20%
20»4
20
20%
34
*33
34
*33'
34
34
34
57
z56%
56%
56%
43
*42
42
42
217,
233,
79%
217,
56%5G%
♦42
567,'
*24
21%
23
2I84
50%
4234
217,
23
23%
80%
4%
80%
48%
79% 79 %
4%
'4i
48% 49
49
49%
49%
49%
66% 56%
42%
217,
22
2234
23
79% 80%
4%
4%
49%
49%
84%
84%
847,
85
85
85
84%
*42
43
215,
215,!
2284
23
21%
227,
(
*79^79%
♦414
483,
*84%
'
4l2
85
PHILADELPHIA
Inactive Stocks
American Milling.—
Amer Rys pref
Cambria Iron
4%
Bid
*42
23%
80%
4% 4
c
10
100
1%
50
40%
86%
Huntington A B T...»
88'
22%
48%
10
*17
50
55
Minehlll & Schuyl H.. 50
Nat Gas Elec Lt & P..100
Preferred
100
North Pennsylvania
50
56
Pennsy receipts SI 5 paid50
Pennsylvania Salt
Pennsylvania Steei
100
Preferred
100
*21
50
50
6% cumulative pref.
Phila German & Norris
Phila Traction
49%
9
27
50,
81
J'ne 10
93% Jan
3.
50
50
70% J'ne 10
15% Jan
4
29% J'ne 12
84^
87% Mch
78% Feb
8% Jan
23
Jan
63% J'ne 4
37
J'ne 10
61% Jan
9
CO
Dec
Jan
8
49% Dec
819
80
92
66
~
39%
42%
140
50
82
96
6%
*95
100
10
100
Welsbach Co
100
West Jersey A Sea Sh. 50
Westmoreland Coal
50
Warrants
Wilkes Gas &Elec—100
__—
York
Railway.....
Preferred
♦
9%
"fo
100
...
50
50
78
"57%
67
58
434
"ll *
36
12
37
Bid and asked; no sales on this day.
PHILADELPHIA
Bid
U Trac Ind gen 5s '19.J-J
Un Rys tr ctfs 4s '49 _J-J
f 5s
1926..
6s
J-D
1923
cons
Leh V Traa
*
con
105%
111
.J-I>
J-D
4s 2003..M-N
(km Jc coil tr 5s '51 M-N
Phil Eiee gold tar ctfs. A-O
Trust ctfs 4s 1849..J-J
P & E gen M 5s
g '20.A-O
Gen M 4s g 1920...A-O
£ Ex-dlv.
and rights.
1007,
Co
100
100
Georgia Sou & Eia
100
1st preferred
100
112
2d preferred
100
IOH4 G-B-S Brewing......100
142
"0334
73
75
00%
are
all
9334
5s 1916
M-N
deb 4s.M-N
Atl Coast L(Ot)ctfs 5s J-D
5-20-yr 4s 1925
..J-J
4Ms '53 F-Al
B S P & C 1st
"93
2
£ 315 paid.
_
8 13id paid.
MaconRyALt 1st 5s'53J-J
Md Elec Ry 1st 5s '31 A-O
Memphis St 1st 6s '45.J-J
NptN A O P 1st 5s'38M-N
94
N & A Terml 5s '29..M-S
Ry A L 5s '49..M-N
North Cent 4M* 1925 A-O
Series A 5s 1926
J-J
S l^jdjpald.
*41 "
40
81%
Ido%
96
96%
66%
67
97
"92*%
93%
88%
"97%
100
103
Say Fla & West 6s '34 A-O
103
101
Seab Air L 4s 1950...A-O
Seab & Roan 5s 1926
J-J
101% 102
98
South Bound 1st 5s. _A-O
102
89%
90%
92% 03% U El LAP 1st 4Hs'29M-N
Un Ry A El 1st 4s '19 M-S
100
Income
87%
93%
94%
103
ids"
101
80
.....
G-B-S Brew 3-4s '51.M-S
Houston Oil div ctfs__F-A
103
103% City & Sub 1st 5s 1922 J-D
Oity&Sub (Was) 1st 5s '48
102
IOI84I
107% 10784
101%
100
102%
102%
100%
-
87
*9*914
J-J
No Bait Div 5s 1942J-D
-
02%
8634
98%
101%
Pitt Un Trac 5s 1997..J-J
Poto Val 1st 5s 1941...J-J
Cent Ry cons 5s *32.M-N
Ext & Imp 5s 1932 M-S
102% Chas City Ry 1st 5s'2J J-J
80% Ohas Ry G & El 5s '99MS
«
103% 104
Georgia P 1st 6s 1922
J-J
Ga So A Fla 1st 5s '45.J-J
170
*
Bait Trac 1st 5s '29.M-N
90
94~~
97
Ga OarAN 1st 5s g '29 J-J
Norf
99
.
Ask
NortPort Tr 1st 5s'36 J-D
87
89
Bid
Gen 4
1954
i
A-O
Cons G E & P 4 Ms '35 J-J
Consol Coal 5s 1950
J-D
Series B 5s 1926
Anacostia & Potom 5s A-O
191%
BALTIMORE
Mt Ver Cot Duck 1st 5s
235
"and
Bait City 3 Ks 1930...J-J
4s 1954-1955
.Various
conv
53
Sep
92% Aug
6
100
Monon V Trac 5s '42 J-D
interest"
Atl O'st
3
Knoxv Trac 1st 5s '28 A-O
Bonds
Prices
94
Dec
4934 Feb
86% Jan
II 167s Jan
22% May
7414 Jan
6% Jan 13
9
65% Oct
13
Sep
35% Sep
Sep
927, Jan
167, Sep
33% Dec
63
Apr
56% Feb
2434 Sep
29
Sep
89% Apr
h8% Apr
Pair Jc Ci Tr 1st 5s '38 A-O
Ga A Ala 1st con 5s '45 J-J
93%
7434
4s '35 J-D
Penn Steel 1st 5s '17.M-N
People's Tr tr ctfs 4s_1943
P Co lstAcoll tr 5s'49M-S
100%
ldo"%
Consolidation Goal
24% Feb 14
18
Coal & O Ry 1st 5s *19 A-O
Coal A I Ry 1st 5s'20 F-A
113% 11334 Col Jc Grnv 1st 68 1916 J-J
Consol Gas 5s 1939
97
98
J-U
;.M-N
99% Canton
60
Ask
Welsbach s f 5s 1930. _J-D
Wll-B G&E con 5s *55.J-J
York Rys 1st 5s 1937. J-D
73%
99%
NatLHIcP serB 5s '18 J-J
New Con Gas 5s 184I.J-D
N YPh & No 1st 4s'39 J-J
Income 4s 1939...M-N
Pa & N Y Can 6s '39.A-0
Preferred
50
102
50
Virginia Ry & Power__100
Warwick Iron & Steel.
51% Jan
81%' Feb
1
50
GenM4^sgl924_Q-F
93%
Washington-Va Ry
46% J'ne 10
80% J'ne 10
Mining
Union Traction
United Gas Impt
BALTIMORE
103%
100
2
Inactive Stocks
Atlan Coast L (Conn) .100
1st series B 5s 1935 M-S
Preferred
3
58%
1st series A 4s 1935.M-S
6%
28% Jan
84% Jan
.
160%
MarketStEl 1st 4s '55M-N
nited Cos of N J
J'ne 10
75% J'ne 10
4
J'l.v 22
s
85
84%
100
•
20
90%
Gen
United Trac Pitts pref
20% J'ne 10
50
50
United Rys Invlst coll tr
ids
3
37% Mch 28
Reading
Tonopah
Spanish-Am Ir 6s '27..J-J
Stan'd Gas & El 6s'26 J-D
Stand Sti Wks lst5s'28 J-J
99%
Jan
237, Mch 28
Phila R T vot tr ctfs
90
Consol
9% J'ne 10
Read Trac 1st 6s '33
J-J
Roch Ry & L con 5s '64J-J
837,
J'ne 10
70% J'ne 10
50
25
57%
Annuity 6s
834
50
Keystone Tel 5s 1935..J-J
Lake Sup Corp inc 5s'24 O
Lehigh Nav 4^s '14.Q-J
Consol 4Hs 1923
82%
50
Terminal 5s g 1941 Q-F
P W & B col tr 4s '21..J-J
"99*1
Leh V O 1st 5s g 1933.J-J
Leh V ext 4s 1st 1844.J-D
104%
Lehigh Valley.
Ph & Read 2d 5s 1833 A-O
Ex Imp M 4s 1947.A-0
Rys tr ctfs 4s'49J-J
Kdison Elec 5s 194•..A-O
Elec A Peoples Tr tr ctfs_
Do
Ask
il*5%
Gen Asphalt 5s 1916..M-S
Harw Elec 1st
1942 M-S
Interstate 4s 1843
F-A
30
50
Railways General
10
Tonopah Belmont Dev
1
81% Jan
Fr Tac A H 1st 5s '40.J-J
Little
Phila Co (Pitts) 5% prf
4
all "and-
«a
Sep
J'ne
820
1898.Q-F
S'tl
Jan
47
22
942
Oh Ok & G gen 5s 1919J^F
Con Trac of N J 1st 5s '33
Del Co
Lit Brothers
Schuylkill..
are
Alt fcLV Elec 4 Hs'33F-A
Am Gas 4c Elec 5s '07.F-A
Betfaleh
26
22
50
Kentucky Securities. .100
Keystone Telep, pref. 50
Keystone Watch Case 100
Prices
7
Oct
Mch
J'ly
Jan
Leh C & Nav tr ctfs
85
Bid
9
J'ne
115
Berg&EBrew lst«s'21 J-J
50
10
847,
.
1
40%
41%
11%
52%
416
53
Am Rys 6s 1917.
A-O
Atl C Gas 1st s f 5s '60 J-J
50
Preferred
4%
•49
85
Gen
2
Asphalt
...100
pref
100
Keystone Telephone. 50
Lake Superior Corp
100
interest"
Preferred
100
Consol Trac of N J...100
Harwood Electric
100
Insurance Co of N A.i
Inter Sm Pow & Chem
79%
'""291
Bonds
99% 100
Central Coal & Coke. .100
.
*23
PHILADELPHIA
Ask
Feb
260
127,
7414
Apr
13
13
♦33
73% Dec
0
1234
13
♦20
Apr
59% Apr
127,
*1284
*24%
'
427, Feb 4
78
May 13
13% MayiO
440
1234
24%
84%
75%
21
33
12% J'ly
583, Aug
39% Dec
2,296
12%
•
9
747,
75
24
12% Jan
54% Jan
35%
75
♦84
11% J'ly 29
42% J'ne 10
Electric Co of America 10
Elec Storage Battery.100
35
75
84
9
74
*36
75
24
24
53% Jan
47%
3634
75
24
*49% Feb
JnelO
75
47%
35»4
♦8334
6
J'ne 11
41
36%
"47%
35%
73%
*12%
*24%
*84%
75%
Feb
37
50
47%
46%
34%
73%
♦12
2
50
♦36
"46%
3434
73i2
125,
47%
36%
50
"47%
*46% *47%
3334
Cement.
Railways
Cambria Steel
117,
47%
*47"
♦73
797
47
American
American
91
100
Funding
4s
1949
J-D
86
Conv notes 5s 1914 J-J
Va Mid 3d ser 6s '16.M-S
107
ser 3-4-Ss 1921 M-S
6th series 5s 1928..M-S
93
102%]
02%
101
100
H
101
Va (Stake) 3s new '32.J-J
Fund debt 2-3s 1991 J-J
West N C con 6s 1914.J-J
Wil A Weld 5s 1935...J-J
105
83%
62%
1936._J-I>
5s
4th
io£%
96
100%
104
i
[Vol.
CHRONICLE
THE
356
Amer
e
103
(N Y)...25
100
110
American
Surety
Empire A Bay State Tel. 100
0U
72
American
Thread
100
49
50
115
125
e
Teleg.—100
Mackay Cos com
100
t
Northwestern Teleg
Franklin
Stocks.
Railroad,
cfee..
State
u. s.
Bonds.
Bonds.
Bonds.
Week ending
Value.
Par
Shares.
8 1913.
Aug.
65
07
50
105
115
25
63
73
pref.100
90
94
Southern & Atlantic.....25
85
95
Pacific A Atlantic..
$5,884,450
63,432
Baturday
....
Monday—
Tuesday
.....
Wednesday.........
Thursday .......
Friday
32,611,100;
23,400,500,
277,436
25,163,800
.
24,450,250,
York
New
1
Jan.
-
Week ending Aug. 8.
Sales at
to
-
1912.
1913.
1,849,428
1,372,903
$126,686,100 $162,679,200
$1,800
Stocks—No. shares
Par value
9812
9914
95t2
$30,000
97i2
98
94
96
Erie 6s April 8
Coll 5s Oct 1
1914..A-08
99
100
1914...A-O
98'4
9914
95«4
Coll 5s April 1 1915..A-O
Gen'l Motors 6s '15—See NY Stk Ex
963,
Bank shares, par
$94,200
$351,700
$1,281,100
19,353,200
307,069,600
$1,036,000
455,540,500
$327,703,900'
$472,530,500
Bonds.
State
$3,000
$30,000
292,000
bonds
Government
7,377,500
365,500
10,145,000
$7,699,500
$10,513,500
bonds
RR. and Misc. bondsTotal bonds
AND PHILADELPHIA
TRANSACTIONS AT THE BOSTON
DAILY
15,954,000
r
■
.
•
Philadelphia.
Boston
98
111
J-J
99
99i2
Int A Gt Nor 5a 1914..F-A
94
96
'15. F-A
98i2
99l2
K C Ry A Lt Gs 1912-^M-S
Lake Sh A Mich So 4t2s.'14
'-sr
~99^
Michigan Central 4128. 1914
Minn A St L g 6s
Inter
1914
4Ha
Harvester
5s
Unlisted
Bond
Listed
Unlisted
Bond
Shares.
Sales.
Shares.
Shares.
Sales.
11,046
15,468
60,760
45,413!
Wednesday.....—..
Thursday ..........
Friday.....
13,232
....
Total.
2,477
2,209
8,159
5,227
5,112
$17,000
1,895
5,034
9,639
7,959
11,857
9,029
3,643
6,636
10,741.
V
,
99i2
90
94
96
97
Missouri Pacific 6s 1914. J-D
9512
96l2
1913-22 b 5.5J
4Hs Jan 1914-1925...J^J b 5.50
4 Ha Jan 1914-1927—J-J b 5.50
99
N Y Cent 4Ha 1914—M-S
5%
5%
5%
99i2
9812
98
M-N
$22,200
14,000
38,900
35,600
24,400
19,100
West Maryland 5s
$154,200
Railroad
30,200
3,931
$140,900
27,115
52,108
All
bond
prices
are
now
Sept 1 1914 opt...M-S
Seaboard Air L Ry5s'16 M-S
97
South Pac Co 5s J'ne 151914
99
Southern Ry 6s
Bid
)
Rys com...100
Street Railways—(Con
e
Chic A Alton com,
•
Chic St P M A Om
Bid
Street Railways
New
V
York City
15
Bleeck St A Ful Fy stk..100
1st mtge 4s 1950.___._J-J
B'y A 7th Ave stk
100
;
2d mtge 6s 1914
J-J
Broadway Surface RR—
.
.
United Lt A
Ask
18
55
70
150
160
1st
preferred
.100
2d
preferred
100
United Rys of St L—
Com vot tr ctfs
...100
98
J-J
1st 5s 1924
1st mtge 6s 1922
v
,
100
M-N
Christopher A 10th St stklOO 110
Dry Dock E B & Batt—
97
1st gold 5s 1932
J-D
/
Scrip 6s 1914....
F-A J 30
Eighth Avenue stock... 100 275
Scrip 6s 1914
F-A / 99
220
42d & Gr St Fy stock... 100
42d St M A St N Ave...100
i
6s
Oonsol
6s
100
Sou Boulov 6s 1945
25
112
A-O
90
98
/
75
80
28 A 29th Sts 6s '96 ctls A-0 /
6
20
Twenty-third St stock.. 100
Union Ry 1st 5s 1942..F-A
220
260
100
103
Westchester 1st 6s '43.J-J
90
95
Yonkers St RR 5s 1946. A-0
88
95
98
ioi
t
5s '31A-0
•
100
e
Preferred
..100
•
Loulsv St 5s 1930
•
New Orl Rys & Lt com.100
• Preferred
100
•N Y State Rys com
_J-J
..100
•Nor Ohio Tr & Lt com. 100
Bub Serv Corp of N J—See
Tr ctfs 6%
perpetual.
No Jer St 1st 4s 1948 M-N
Cons Traot of N J
1st 6s 1933
100
J-D
New'k Pass Ry 5s '30.J-J
Rapid Tran St Ry
100
lit 5s 1921
A-O
J C Hob & Pat 4s '49 M-N
Bo J Gas El & Trac
100
i
Gu g 5s 1953
M-S
No Hud Co Ry 6s 1914 J-J
Con M 5s 1928
Ext 6s 1924
J-J
M-N
Pat Ry con 6s 1931..J-D
£
share,
jnipsiaiaries
Preferred
100
60
..100
.100
95
Kilburn
com
1st preferred
15
100
100
96
Northern Securities Stubs..
102
•
1st
•
2d preferred
preferred
1st g 5s 1961—-
*28
31
60
*56
62
e
•
J-J
100
....
100
com
100
70
78
*1912
(International Nickel
Preferred
International Salt.
20i2
650
10
110
128
100
101
104
100
3
4
161..'
Internat Smelt A Refg.-lOO
Lanston
90
100
—100 1194
198
100
4
200
4
100
45
..100
98
1021*
15*
102
*58
62
67
338
342
100
140
150
Galena-Slgaal OR
com.
.100
185
188
Mortgage Bond Co..
100
98
N Y A Q El L A Pow Co.100
100
143'
147
e
National Surety ......100
170
60 ♦116
120
e
New York Dock com..100
5
45
55
100
70
80
Preferred
Indiana Pipe Line Co
National Transit Co
25
100
25
40
North'n Un 1st 6s 1927.M-N
99
101
New York Transit Co...100
Standard G L 1st 5s '30 M-N
100
1031*
Northern Pipe Line
Ohio Oil Co.
♦
39
40
310
315
Manhattan Shirt...-
Preferred
•
Preferred
N Y Mtge
A Security
25
180
185
90
100
97
105
N Y Title Ins Co.......100
N Y Transportation
Prairie OR A Gaa
25 ♦134
825
136
78
100
328
Nlles-Bem-Pond
50
•46
48
Solar
100 ftl83
186
Ohio Copper Co
100
348
353
242
e
100
104
106
204
Otis Elevator
Amer Power A Lt com.. 100
65
66
237
Southern Pipe Line Co.. 100
South Penn Oil
.100 1201
145
Sou West Pa Pipe Lines. 100
77
78
Standard OR (California) 100
184
187
Stand 011 of Indiana....100 x331
340
Standard Oil (Kansas) ..100
337
420
Preferred
Am Lt A Trac com
Preferred
Preferred
100
♦%
Buffalo City Gas stock—100
Cities Service Co com
100
mm
12
5
mm
77
Co..100
Refining
80
Stand 011 of Kentucky__100
410
300
150
Ontario
com
Silver....
com.
Preferred
e
1st
*4
6
78
83
76
50
81
84
Union Tank Line Co.—100
70
72
1st preferred
100
85
60
Vacuum OR
100
173
175
2d preferred
100
92
95
350
99
102
Essex A Hudson Gas
100
130
135
Gas A El Bergen Co
.100
Gr't West Pow 6s 1946..J-J
86
89
75
80
1st 6s
1927...
'
1031* Hudson County Gas
127
130
100
38
42
65
67
Gas..—__ 60
85
100
86
28
1st g 5s 1952
A-0
Jackson Gas 5s g 1937—A-O
•Laclede Gas preferred.. 100
77
Madison Gas 6s
67
75
77
Indiana Lighting Co
4s 1958 opt
68
70
Indianapolis
70
.100
mmm
1926—A-O
102
•88
103
104
76
78
234
100
103
75l2
125
97
69
m
90
15
70
105
100
185
195
RemlngtonTypewt'r comlOO
3*
35
1
96
97
;
93
95
,
119
Washington OR
10 •28
Oil..—100 2350
New stock (w 1)
♦42
...
i
47
Tobacco Stocks
130
110
180
185 Royal Bak Powd com...100
Preferred
100
10212 104 *
US .1
Safety Car Heat A Lt—100 111
Sears,RoebuckACo—8«eN Y Stk E x List
...
(See also Stock Exchange List)
Amer
Amer Machine A
British-American
c
100
145
155
100
80
90
Fdy_.100
Tobac.£l
55
Cigar com...
Preferred
♦22i2
Preferred—See Chic Stk
Ex
lis t.
100
297
35
65
Standard Coupler com..100
Preferred
100
105
2234
Stern Bros pref..—....100
70
74 \
Singer Mfg Co
290
Sulzberger A Sons Co pf.100
90
93
180
Texas A
Coal...100
90
95
116
e
Texas Pacific Land Tr.100
90
92
160
180
TonopahM In (Nev) -8cePhlla Stk E
122
MacAndrewa A Forbes..100
13.0
200
108
100
Pacific
Trenton Potteries com.. 100
195
215
200
Trow
120
87
United Copper
Preferred
Pat A Pas Gas A Elec... 100
88
•
60
•
St Joseph Gas 5s 1937
J-J
Standard Gas A El (Del) 60
90
Porto-Rican-Amer
93
100
Preferred
"95 "
85
United Cigar Mfra com 100
•
487S
95
...100
Preferred
83
102
361*
United Cigar Stores com.100
Preferred
..100
108
115
85
90
e
Weyman-Bruton Oo...l00
225
300
78i2
33i2
791*
341*
........100
109
120
Young (J S) Co
100
140
170
•10
11
♦35l2
....
e
Preferred
Preferred
8314
...100
new
Directory
...
•
100
Preferred.
100
U S Casualty—
......100
U S Envelope com......100
Preferred
....
Preferred
76
77
100
14i2
16
Industrlal&Mlscellaneous
100
45
451*
•
80
90
AJllanoe
125
Adams Express....... 100
Col tr g 4s 1947
J-D /
Preferred
............60
76
100
...100
Realty
•
♦43lj
49l2
•
110
45
51
.......100
J-J
1st g 5s 1919
Con g 6s 1929
135
7612
100
......
U S Express..
....100
U S Finishing.......... 100
US Indus Aloohol
• Preferred
50
m
i
14
1
31*
23
85
60
100
28
100
83
113
113
American
Book........100
160
170
7
13
American
Brass
137
U S Tit Gu A Indem
60
American Chicle com
195
199
«
Virginia Iron C A G
100
40
20
N Y A Hob 5s May '48—J-D
98
mmmm
100
100
.....100
134
50
95
98
e
Wells
100
92
721*
Hob Fy 1st 5s 1946..M-N
N Y A N J 6s 1946..:
J-J
101
rnmmrn
114
115
96
mm mmm
120
126
17
72
+ mmm
mmmw
'
J^J
100
mrnmrn
Preferred
American Express
—100
Am Gr&phophone com.. 100
•
25
85
1st mtge 5s 1919
Union Ferry stock
J-D
100
60
58,
American
23
25
Amer Malting 6s
—M-N
98
100
Hardware.
100
1914..J-D
Amer Press Assoc'n
100
80
99**] 100*4
35
40
s
f Apr 6s 1951 not opt
100
Fargo A Co
Westchester
60
.100
Preferred
10th A 2Sd Sts Ferry.... 100
Col
A
Bronx
A Mtge Guar..
«
Westlngh'se Air
Willys-Overland
Preferred
If
8\
a!
I
n
iWt
114%'
83 4
60
100 \
Title
..100
165
Brake.60 *129
100
68
132
85
92
00m
100
Worthlngton(HR)Oo pf.100
a And accrued dividend, b Basis. * Listed on Stock Exchange but usually Inactive, f Flat prion, n Nominal. « Sale prion,
t Ex-div. * Ex-rights, c Includes all new stock dividends and subscriptions.
• Listed on St90k Exchange but lnfrequaptlT 4
pate. » Bx-300% took dividend.
**■
93 i
90
99i2 102 A
200 \
190
118 J
114
• 105*4
42
M-N
1st 5b 1922
'
^
..J-J
U S Steel Corporation—
Col s 1 Apr 5s 1951 op 1911
\
lis*
7
100
100
United Dry Goods....100
95
x
4
N Y A E R Ferry stock.. 100
B A N Y 1st 6s 1911
98
40
111'
150
Ferry Companies
iooi*
300 !
270
•
Amer Bank Note com....60
103 ~
32
2500
Waters-Pierce
Western States Gas A El—
107
3
94
Realty Assoo (Bklyn)...100
Coaley Foil
100
Helme (Geo W) com__100
e Preferred
......100
Johnson Tin FollAMstal 100
10614
QQ
100
152
290
100
1st A ref g 5s 1941 op.J-D
\
150
280
245
Preferred
761*
120
12
100
Tob.100
.100
95
10
84
Reynolds (R J) Tobacco.100
com
"93"
102
Tobacco Products oom__100
Preferred
*
38
100
95
Western Power
99
Pratt A Whitney pref... 100
Producers Oil
100
39i2 "40"
8612
85i2
60
70
*
30
Pacific Gas A E com.... 100
Preferred
100
Preferred
v
100
Preferred
No Hud L H A P 6s 1938A-0
100
7D* 721* United Electric of N J
1st g 4s 1949.;
J-D
99*4 IOOI4
106
United Gas A Elec Corp .100
104
230
90'
mm mm mm
84i2 Narragan (Prov) El Co. 60
90
97i2 Newark Gaa 6s Apr '44_Q-j
100
1025, •02*4 Newark Consol Gas
80
"
A
'
29
'
F-A
65
♦720
78
98
1912
OR of Ohio...100
Swan A Finch
Consumers Power (Minn)—
37l"
369
100
Standard OR of N Y
Standard
Pittsburgh Steel pref..100
Pope Mfg Co com
100
e
(old).. 100 1089
1
♦13U .131*
50
Preferred
3
>
214
100 '96
1st A ref 6s '29 opt '14M-N
72
Preferred
.100
Columbia Gas A Elec—.100
*12
100
preferred
Pittsburgh Brewing
305
20
Pettlbone-Mulliken Co 100
•
350
401*
100
__10
100
.100
j.
20
100
100
♦75
,
55
20
Manhattan Transit
60
com
80
190
Co—100
;
120
202
Denver G A El 5s 1949.M-N
Elizabeth Gas Lt Co..—100
70
110
79l2
197
103
"76
10812
Eureka Pipe Line
<?aa L
<
Monotype.....100
Lawyers' Mtge Co-_.i.._100
Lehigh Val Coal Sales...50
100
70
125
100
\
521*
115
Crescent Pipe Line Co...50'
Cumberland Pipe Line. .100
60
-/
8
124
J-D
i
1st 6s 1948
;
'
89
.
_A-0 / 5012
1st g 6s 1951.
6
40
105
International SRver pref.100
300
35
100
100
100
665
Oil
Oil
Preferred
com
Internat Banking Co
..£1
Oil
Ingersoll-Rand
Intercontlh Rub
Railroad Securities Co¬
1011*
3l2
Hocking Val Products..100
90
104
Pitts Bess A Lake Erie...50
M-N
1st 5s Nov 1930
105
8OI4
'
Land A Improve't
97
62
10
62
100
Other Cities.
Stk E X list
5
5
98
Am Gas A Elec
65
2
67
100
981* 10012
102i2
NY Mutual
97
102
Anglo-American
100
55
98
,
99
Continental
J-J
1%
85
96
100
100
ml
105
83
100
-mm*
102
1912...J-J
96
26l2
75i2
185
*156
10
Consumers' L H A Pow—
6s 1938
J-D
bo torn on a preceding
100
....
175
J-J
1st 6s 1920
glSfr
•
Goldfield Consol M
83
70
com. 100
Preferred
..100
•Toledo Rys & Light
.100
Trent P A H 5s 1943...J-D
13
General Chemical com. 100
86
m
85
37
56
70
1948
33
100
78
18
Tennessee Ry LAP
'76
83
Republic Ry 4 Light___100
.100
"27"
100
53l2
57U
N Y A Richmond Gas
66
95
100
Standard OR subsidiaries.
100
Preferred
.
99
A-O
2d 6s 1914 opt
_
Preferred
96
102
130
Empire Steel A Iron com 100
Con Gas of N J 5s 1036.. J-J
100
Detroit United Ry
Emerson-Bran tingham .
101
-
125
..100
Stand Oil of N J—
Ry & Ltg com...100
Federal Light & Trac—100
Preferred
.100
•Havana Elec Ry L & P 100
Preferred
Stand OR of N J
1941___F-A
J-J
Preferred
e
2
*1%
Davis-Daly Copper Co
10
duPont(EI) de Nem Pow 100
7
81
Preferred
Other Cities.
e
15*4
931*
Stand OR of Nebraska..100
Btelnway 1st 6s 1922
€ Conn
1514
93
100
share
•
N Wmsburgh & Flatbuah-r-
Com'w* 1th Pow Ry A L.100
Preferred
100
80
100
100
IOI4
.100
..J-J
J-J
Buff St Ry 1st con 5s '31F-A
com
__
74
98
lst 434s July
Preferred
68
102
Brk C A N 6s 193.9
J-J
Nassau Elec 1st 6s 1944 A-0
c
10i8
97
153
100
;
Crucible Steel
00
40
77
62
94
148
Coney Isl A Bklyn
1st cons g 4 .1948
Con g 4s 1965
•
52l2
39
100
J-J
A-0
Brooklyn City RR
10
Bklyn Hgts 1st 5s 1941.A-0
B B & W E 6s 1933
__
-M-S
79
Bay State Gas___—...-. 50
con
com.
(
100
A-O
Debenture 4s 1951
1st 6s 1922
Per
1st consol ,6s
Brooklyn
Atlan Ave RR
95
Hoboken
Standard Oil Stocks
Consol 6s 1945
8912 100
J-J
BoFer 1st 5s 1919
Tarry WP A M 5s '28..M-S
.
20
103
1948 ctfs..F-A /
25
72
Herrlng-Hall-Marvl n -..100
West Pac 1st 6a 1933..M-S
N Y A E R Gas 1st 6s '44 J-J
mmw>
3
75
21
100
Preferred
Hecker-Jones-Jewell Milling
20
mm
170
70
Car
1st g 5s June 1 1922.. J-D /
83
100l2
m-mm
100
Heating—..100
Consol Rubber Tire
100
Consol
70
Colonial
1
58
97
66
114i2 117
150
55
100
31
e
100
80
100
com
~
80
100
2d preferred..
Cluett.PeabodyA Co
60
10012 102l2
100
80
65
Cent Un Gas 5s 1927..—J-J
Second Avenue Btock
95
75
2912
,100
com
lli C stk tr ctfs Ser A
New Amsterdam Gas—
90
Preferred
•
21*
preferred.......100
1st
Electric, Gaa & Power Cos
Ninth Avenue stock
•Sixth Avenue Btock
140
100
240
M-S f
1910
120
125
mtmmmm
1st
...100
10Q 640
Borne-Scrymser Co
100 280
Buckeye Pipe line Co—60 ♦158
Chesebrough Mfg Cons. 100 655
300
30
100
Clatln (H B) Co com—100
• 1st
preferred
100
e
Preferred
19
Kings Co El LAP Co. 100
20
2d preferred
Havana Tobacco Co
20
130
Atlantic Refining...
32
129
100
20
120
Preferred
New York Citg
"
120
100
City Investing Co
Hale A
82
100
111)
Celluloid Co
list
J-D
Preferred
Casualty Co of America.100
Ref g 4s '52 op
99
x
100
e
e
o1
90
98
West Penn TrAWatPow 100
1Q3
1
Cen PkN&ER Itstock.lOO
85
k Hackensack Water Co—
90
1951
48
100
9812
9918
9812
88
4s
42
e
10
101
10
9i2
17i2
100
Preferred
♦238
100
75
31
93
108
100
Brown Shoe com
Preferred
9
100
Preferred
Wash Ry A El Co....—100
Preferred ...........100
'
Cent Cros3town stock.. 100
74i2
73
105
Preferred
British Col Copper CO-.-.5
Preferred
30U
9U2
e
.
99U 100
7312
69
S"
..100
Preferred
Colo A South
e
69
67
116'
2d preferred.
100
• NY Chic A St L com..100
•
Ask
1916.. F-A
1915.J-J
9812
Weatingh'se El A M 6s 1915
6% notes Oct'17—See N Y Stk E
e
"and interest" except where marked 't
114
75
6s
•
Inactive and Unlisted Securities
Borden's Cond Milk com.100
Continental Can
9914 .9934
9934 100
A-021
N Y N H A Hartf 5s '13.J-D
876
9,667
17,392
5,920
13,804
5,449
26,000
21,500
14,600
31,600
L30
.50
Preferred
99
St L A S F 5s 1913 opt. J-D
Saturday—.......
Monday
Tuesday
81
122
290
e
1914..F-A
4l2s 1915
5s Apr 21 1914
Listed
Shares.
79
60
..100
100
Mo Kan A Tex 5a 1915.M-N
Week ending
Aug. 8 1913.
Cent
eNYC Lines Eq 5s
EXCHANGES.
•
Hudson Companies—
6s Oct 15 1913
A-015
1
10
65
Preferred
list.
99
.....100
Preferred)
;
41*
96
100
100
Bond A Mtge Guar
95
79,316,937
M-N
com
Bliss (E W) Co com..
99
$7,175,517,325
43
93
90
...100
Preferred
98
52,922,936
190
Deb g 6s 1939
Bklyn Rap Tr 5a 1918...J-J
Cbes A Ohio 414s 1914..J-D
ChicElevRys 5s 1914...J-J
$4,777,019,450
180
Barney A Smith Car
Balto A Ohio 5s 1914...J-J
1912.
1913..
70
50
pref
5 *
4
Amer Typefounders com. 100
40
Amer Writing Paper
"5",000
8.
Aug.
67
Preferred
Short-Term Notes
Amal Copper 5s 1915..M-S
Stock
Exchange.
Pac Telep & Teleg
e
\
$292,000
$7,377,500
1,372,903 $126,686,100
Total
$10,000
1,000
14,000
$13,000
52,000
35,500
83,500
41,000
67,000
$404,500
1,059,000
1,417,500
1,419,500
1,739,000
1,338,000
15,176,000'
163,485
351,346
256,489
260,715
100
F-A
Deb 4s 1923
89
80
100
Preferred
•
Ask
Bid
98
Fdy 6s 1935.A-O
104
cGold A Stock
.
Am Steel
100
Comm'l Un Tel
YORK STOCK EXCHANGE
DAILY, WEEKLY AND YEARLY.
Indust and Miscell—(Con)
64
6518
Teleg A Cable...100
t Central A South Amer.
TRANSACTIONS AT THE NEW
As*
BA
Telegraph and Telephone
Volume of Business at Stock Exchanges
xcvxi.
62
75
Aug. 9
1913.]
iiuestmerxt
THE
CHRONICLE
and
^ailrcrad Intelligence.
357
Wm
RAILROAD
•-
The
i
GROSS
EARNINGS.
<
earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained.
The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month.
We add a supplementary
statement to show the fiscal year totals of those road3 whose fiscal year doe3 not begin with July, but covers some other
period.
The returns of the electric railways are brought together separately on a subsequent page.
.../
' :
following table shows the
gross
.
Latst Gross Earnings.
ROADS.
Week
or
Mon'h.
Ala N O & Tex Pac-
Previous
Year.
Year.
$
N O & Nor East. 1st wk July
Ala & Vicksburg. 1st wk July
Vicks Shrev A P. 1st wk July
Ann Arbcr
Current
4th wkJuly
Atch Top & S Fe
June
Atlanta JBirm A At! May
65,000
28.000
25,000
69,182
.
8,620,429
B A O Ch TerRR June
247,113
2,609,253
132,675
103,506
9,015,427
150,022
Bangor A Aroostook May
300,279
Atlantic Coast Line June
...
Chariest A W Car June
Lou Hend & St L June
g
Baltimore A Ohio. June
Bessemer A Lake E June
Birmingham South. June
Boston A Maine.
May
Buff Roch & Pittsb. 4 th wkJuly
Buffalo &
May
Susq
Canadian Northern. 4th wkJuly
Canadian Pacific
4th wkJuly
Central of Georgia. May
Cent of New Jersey May
Cent New England- May
Central Vermont.
May
Ches A Ohio Lines. 4th wkJuly
3d wk July
Chicago A Alton
Chic Burl A Quincy May
p Chic Great West- 4th wkJuly
Chic Ind & Loulsv. 4th wkJuly
_
Chic Milw&St P_1 June
Chic Mil & PugSj
•Chic A North West June
rChic-St Paul M AO June
.....
Chic Terre H & S E June
Cin Ham A Dayton June
Colorado
Midland. June
b Colorado A South 4th wkJuly
Cornwall
June
Cornwall A Leban. June
Cuba Railroad
June
.....
Delaware A Hudson June
Del Lack & West.. June
Denv & Rio Grande
Western Pacific.
Denver & Salt Lake
Detroit Tol A Iront
_
4th wkJuly
4th wkJuly
4th
wkJuly
May
Detroit & Mackinac 4th wkJuly
Dul A Iron Range.. June
Dul Sou Sh A Atl— 4th wkJuly
Elgin Joliet A East- June
El Paso A Sou West June
Erie
May
Fonda Johns & Glov June
Florida^East Coast. June
Georgia
Railroad
__
June
1,058,468
113,158
3,973,644
426,822
210,225
593.800
Grand Trk West.
Det Gr Hav A M
Canada Atlantic-
Great North Syst..
Gulf A Ship Island.
Hocking Valley
Illinois Central
Internat & Grt Nor
Interoceanic Mex
Kanawha & Mich.
Kansas City Sou..
a
Lehigh Valley
Maine Central
3,020,054
3,010.462
36,123,072 33,498,356
1,933,896
1,895,999
1.279.469
1.231,483
101556132 92,594,323
1.557.470
1,794,351
2,982,765 3,111,023
9,012,362 8,457,266
891,965
1,276,628
44,464,852 42,018,443
955,622
1,140,321
2,272,134 2,132,561
1,928,800 1,829,700
11,555,000 11,641,000
12,958.452 12,965,833
29,265,269 26,700,935
3,411,644 3,167,020
3,824,956 3,732,915
2,828,895 2,801,974
815,165
856,454
86,878,698 79,838,702
1,180,671
1,009,275
7,626,494 7,252,257 86,510,709 77,047,447
1,417,742 1,347,477 17,223,996 15,371,367
142,830
1,827,361
127,873
1,929,552
819,769 10.071.297 9.825.321
931,268
127,695
133,273
1,828,335 1,830.166
348,998
387,977
I,178,132 1,048,894
196,751
18,596
17,687
240,851
308,573
28,014
30,205
414,019
399,100
318,818
4,632,040 3,819,253
1,953*503 2,275,294 23,999,532 21,142,929
3,392,183 3,251,840 40,518,045 35,492.527
689,300
703,400 2,036,800j 2,030,300
525,000
190,200
600.000
181,100
117,864
132,104
43,114
43,070
151,098
I,623,852
1,535,879
116,378
38.913
108,174
37,104
112,845
1,052,769
953,235 7,121.719 6.684.438
317,804
105,100
107.600
318,361
1,149,451 1,154,545 13,350,782 10,720,752
691,680
655,801
8,657,716 7,613,456
5,410,711 4,285,537 57,290,468 51,463,264
932,168
86.442
988,324
85.566
304.150
352,783 5,037,056 4,432,304
221,804
222,973 3.117.765 3;378,734
.
119,176
3^2,959
1,658,446 1,544,103 5,042,103 4,641,868
3d wk July
414.288
379,387*
142,59
125,794
3d wk July
126,494
44,226
39,496
139,681
3d wk July
127,317
49,799
42,139
150,393
6,468,921
July
7,508,171 6,468,921
7,508,171
June
1,982,323
180,725
154,587
2.110,542
June
723,501
7.817,644 7,303.679
666.228
5,331,518 5.097,005 5,331 *518 5,097.005
July
4th wkJuly
285,000
801,000
752,000
279.000
4th wkJuly
820,821
271,162
294,854
760,373
May.
332,759
295,959 3,006,457 2.848.322
June
853,980
767,123 10,706,309 9,272,859
June
3,743,478 3,649,193 43,043,372 36,905,935
June
-
_
942,991
Maryland & Penna. June
41,233
Mexican Railways 3d wk July
173,900
Mineral Range
4th wkJuly
13,083
Minn A St Louis. _1 4th wkJuly
203.486
Iowa Central
J
Minn St P A S S M\ 4th wkJuly
737,244
Chicago D ivision ]
Mississippi Contral¬ June
86,654
to Mo Kan A Texas. 4th wkJuly
975,984
x Missouri Pacific.
4th wkJuly 1,778,000
Nashv Chatt & St L June
1,068,182
a Nat Rys of Mex.l 4th WkJuly
883,355
Nevada-Cal-Oregon 3d wk July
9,241
N O Mobile A Chic. May
211,679
New Orl Grt North. May
176,217
«N Y O A Hud Riv. June
9,962.558
Lake Shore & M S June
4.827,892
n Lake Erie & W_ June
515,045
Chic Ind & South June
J
340,536
Michigan Central June
3,015,719
x
Ciev OO&St L_ June
2,888,944
Peoria & Eastern June
291,724
Cincinnati North June
122,935
Pitts & Lake Erie June
1,735,242
NY Chic A St L. June
1,093,277
Tol A Ohio Cent- June
601,886
a
_
.....
'
162,400
575,000
65,000
28,000
25,000
544,283
.198,563
569,787
187,192
7,631,916 0.799,651 94,084.055 79,255,356
Louisiana A Arkan. June
119,047
z Louisv & Nashv
4th wk July 1,603,340
Macon A Blrn'ham. July
10,230
__
.....
...
Tot all lines above June
N Y N H & Hartf.
May
1,673,459
131,895
1,474,090 4,898,3451
14,739
10,230
913,329 II,331,406
506,861
37,168
563,600
169,100
59,958
24,241
206,571
743,402]
1.495.L11
4,501,175
14,739
10,643,051
445,792
506,500
2,534,230
266,739
100,176
1,606,389
1,033,456
503.556
115 106531
AGGREGATES OF GROSS
3d
week
4th week
May
May
'37 roads)
40 roads)
1st week June
( 42 roads)
2d
3d
week June
week June
4th week June
41 roads)
.39 roads)
1st
week
39 roads)
41 roads
2d
week July
week July
3d
July
4th week July
41 roads)
—
[39 roads)
'36 roads)
Previous
Year.
$
$
13,655,723
20,223,520
14,155,295
14,167,762
14,191,787
18,519,740
13,547,151
14,055,757
14,503,441
21,077,101
Increase
_
...
...
June
Pennsylvania Co
Grand Rap A Ind June
...
Pitts C O & St L. June
Vandalta
June
.......
.
Total Lines..
East Pitts & E
June.
West Pitts A E
June.
All East AWest June
Pere Marquette
June
Previous
Current
Year.
Year.
Year.
Previous
Year.
...
164191847
280,964
3,034.351
10,752,423
134,144
3,424,153
12,548,664
19,297,502
6,351,118
56,909,515
5,182,221
40,756,700
10,020,042
22331180 20836107 257089959 233879910
11275560 10860575 129316302 114226367
33606740 31696682 386408262 348106270
1,309,768 1.347,978 17,406,755 16,676.428
_
Southern Pacific
June
11644536 10540832 142774705 131525170
Southern Railway.. 4thwk July 1,766,863 1,861,586
Mobile A Ohio.
4thwk July
361,081
324,035
Cin N O & Tex P. 4thwk July
279,167
270,596
..
Ala Great South- 4thwk July
150,834
Georgia So A Fla. 3d wk July
47,683
Spok Port & Seatt.
448,813
May..—
Tenn Ala & Georgia 3d wk July
1,922
Tennessee Central. May
150,090
Texas & Pacific
4 th wkJuly
469.882
Tidewater & West. May
10,545
Toledo Poor & West 4th wkJuly
43,803
Toledo St L & W
4th wk July
115,616
Union Pacific Syst. Juno
7,563,761
Virginia & So West. June
145,809
June
499,553
Virginian.
Wabash
June
2,601.752
Western Maryland- May
636,921
Wheel & Lake Erie. May
741,148
Wrights v & Tennille June
15,110
Yazoo & Miss Vail. July
783,129
.
*
>
...
.....
...
Various Fiscal Years.
5.351,022 5,454,833
942,925
1,026,028
817,442
776,819
412,182
133,122
374,260
43,064
136,071
129,192
391,317 4.882,556 4,424,880
3,125
8,714
5,572
145,886 1,549,600 1,411,148
424,329. 1,331,729 1,276,823
97,653
89,504
9,716/
46,345
110,620
109,645
79,369
392,799
289,330
6,905,927 93,638,459 85.977,609
153,155
1,806,626
1,757.924
411,428 6,189,760 4,928,193
2,401,377 31,772,541 28,354,764
613,812 6,914,635 6,630,244
595*340
7,066,251
6,791,785
16,380
306,583
348,993
726,167
783,129
726,107
,
Current
Previous
Year.
Year.:
Period.
$
Delaware & Hudson...
Jan
N Y Central & Hudson River
Jan
Lake Shore & Michigan South Jan
Lake Erie & Western.n
Jan
to
June 30 11,691,472 10,109,012
to
1
to
June 30 55,862,237 50,471,874
June 30 29,034,354 25,045,918
1
to
Juno 30
June 30
1
to
1
to
Cleve Cin Chic A St Louis
Peoria A Eastern
Cincinnati Northern
1
1
1
1
to
1
to
June 30
June 30
Jan
Jan
...
Jan
Pittsburgh A Lake Erie
Jan
New York Chicago A St Louis Jan
Toledo A Ohio Central
«. Jan
to
to
June 30
Juno 30
to
June 30
to
Jan
1
to
Jan
1
to
Jan
Valley
Jan
Long Island
Maryland Delaw A Virginia, .j Jan
N Y Philadelphia A Norfolk- Jan
1
June
June
June
June
June
June
June
June
June
June
Pennsylvania
Baltimore
Railroad
Chesap A Atlantic-
Cumberland
to
1
1
to
.
to
1
to
Northern Central
Jan
1.
to
Philadelphia Bait A Wash
Jan
1
to
West
Jan
1
to
Jan
1
to
Jan
1
to
Jan
1
to
Jan
1
to
Total lines—East Pitts A Erie Jan
1
to
—West PittsA Erie Jan
—All lines E A W
Jan
1
Jersey A Seashore
Pennsylvania Company
Grand
Rapids A Indiana
Pitts Cincin Chic A St Louis
Vandalia
Rio Grande Junction
Rutland
2,653,559
2,025,790
to
1
1
2,876,256
2,197,428
June 30 17,705,137 15,237,392
June 30 15,963,877 14,694,814
Jan
Total all lines
.
1
1
Chicago Indiana & Southern- Jan
Jan
Michigan Central
30
1,645,078
615,031,
9,948,825
6,124,178
1,506,447
616,753
8.070,435
5,727,271
2,419,055
2,728,770
144701171 128469308
30 89,253,420 82,030,115
30
128,824
112,674
30
30
30
30
30
30
30
June 30
June 30
1,764,390
1,534,303
5,373,294 4,918,067
48.888
60.317
1,696,145
1,911,454
6,500,829 6,010,602
10.326,278
9,502,597
2,646,717 2,690,837;
31,122,649 27,499,721
2,579,521
2,495.718
June 30 21,165,198 20,258,380
June 30
5,275.405 4,819,709
June 30 124677341 114917004
1
to
June 30 60,896,243 55,749,841
June 30 185573584 170666845
Dec
1
to
May
Jan
1
to
to
31
June 30
452,185
1,711,745
423,872
1,617,285
EARNINGS—Weekly and Monthly.
Monthly Summaries.
%
$
+504,541
8,527,944
3,374,288
3,176,521
39,735,237
57,909,507
3,172,187
0,839,095
4,369,543 3,224,803 47,524,483 41,517.114
755,243 38,489,447 32,580,797
3,294,073
7,663,616 3,980,046 86,013,930 74,097,911
Rich Fred A Potom June
259,219
239,675
2,968,612 2,575,535
Rio Grande June
May
75,787
908.238
76,649
1.024.220
Rio Grande South._ 4thwk July
16,583
15,581
53,901
51,047
June
Rock Island Lines.
6,375,933 6,076,920 71.364,934 64,712.854
Rutland
June
323,455
303,902 3,706,981 3,460,170
St Jos A Grand Isl'd May
123,064
121,200
1,432,041
1,438,314
St L Iron Mtn & So May..
2,784,859 2,549,935 31,656,656 27,770.275
St L Rocky Mt & P May
199,178
153,324 2.083,565
1,819,138
St Louis & San Fran May
3,698,108 3,378,469 42,343,320 38.713,362
f Chic & East 111. April
1.203.922
968,964 13,571,005 12,973,502
Total all lines... April
4,703.695 3,918,434 52,207.411 48,303,081
St Louis Southwest. 4th wkJuly
346,000
1,009,000
374,000
1,084,000
San Ped LA&8L. May
860,324
884.189
9,296,92 28,233.388
Seaboard Air Line.. _3d wk Jul y
419,29 5
397,82 9 1,288,78 51,228,319
or
Decrease.
797,529 9.454,349
235,145 3,490,447
61,173
66,143 3,522,298
3,742,889 3.457,322 43,739,921
5,766.417 5.127,545 66,651,916
328,231
301,463 3,356,916
7,236.168
571,839
645,357
15559936 14182187 181830963
318.658
27,025
25,685
282,314
3,521,446
299,759
1,291,017 1,102,314 11,641,882
152,951
12,890
11,230
393,681
358,110 3,781,498
1.106.921 1,077,482 13,334,941
1,783.321 1,755,362 21,103,722
6.351.136
570,745
610,073
6,154,779 5.912,294 66,573,352
451.881
5,519,073
419,304
3,649,063 3,568,028 44,510,899
884,236
840,343 11,201,406
816,012
321,333
Reading Co—
Phila & Reading- May
Coal & Iron Co.. May
Total both cos.— May
3.84
September—237,591
+1,084,396
5.07
October
13,870,253
18.044,170
13,206,284
13,955,741
+579.224
+267,384
+321,534
+475,570
+250,967
+ 100,016
4.27
1.93
2.35
2,64
November—237,370
December—238.072
January ...235,607
February...240,986
14,292,486
21,220,128
13,151,182
19,138,924
13,576,071
13,900,378
-
May
_
Pac. May
Pacific Coast Co
May
Pennsylvania RR— June
Balt Ches A Atl. June
Cumberland Vail June
Long Island.- — June
Maryl'd Del & Va June
NYPhila&Norf June
Northern Central Juno
Phil Bait A Wash June
W Jersey A Seash June
Northwestern
105631635
58,272;046 50,661,871
0,062,323 5,550,211
4,407,454 3,975,554
35,379,495 31,342.468
33.983.298 30.700,843
3,568,496 3,160,453
1,324,747
1,416,920
20.040,505 16,441,699
12,623,141 II.593,474
5,672,732 5,249,429
Current
Year.
Norfolk & Western- June
Northern Pacifi
738,978
892,437
1,054,547
2,630,953 2,283,431
5,057,830 4,932,041
13,317,162 12,262,675
2,776,220 4,968,061
33,350
30,361
1,826,881
2,323,978
1.489,825
1,639,528
84,982
832,449
N Y Susq A West— May
Norfolk Southern.. 3d wk June
2,149,897
639,320 '2.511,124
1,569,000
995,858
1,878.465
10,438
203,080
145,515
9.125,467
4,433,597
447,045
315,190
2,617,377
N YOntA West— June
64,880
25394837 22983202 296542142 265632456
5,740,206 5,482,402 63,197,752 59,105,855
Weekly Summaries.
Current
$
55,000
32,000
25,000
61,763
8,668,710
244.440
2,530,851
120,257
94,542
8,314,833
141,895
242,718
1,049,053
93,107
3,859,051
308,265
3,643,000 3,776,000
1,003,172
978,553
2,518,184 1,870,028
306,863
252.194
358,935
335.284
1,082,909 1,073,571
300,115
281,769
7,295,560 6,650,535
314,286
291,409
Grand Trunk Pac__ 3d wk July
Grand Trunk Syst- 4th wkJuly
or
Month.
Year.
S
55,000
32,000
25.000
189,701
193.147
116896251 107752360
$
Week
ROADS.
Previous
Current
Year.
July 1 to Latest Date.
Latest Gross Earnings.
July 1 to Latest Date.
1.90
March
+210,955
0.72
1.48
April
May
—143,027
0.68
June
237,217
240,510
240,740
.239,445
90,012
235,140
233,545
233,305
234,146
232,179
237,756
237,295
236,515
236,619
87,715
Current
Previous
Year.
Year.
272,209,629
293,738,091
276,430,016
263,768,603
246,663,737
232,726,241
249,230,551
245,170,143
263.496,033
73,194,701
Increase
or
Decrease.
%
252,318,597 +19,891,032 7.88
258,473,408 +35,264,683 13.64
244,461,845
234,087,361
208,535,060
218,336,929
238,634,712
220,981.373
232,879,970
+31,968,171
+29,681,242
+38,128,677
+14,389,312
+10.595,839
+24.188,770
+30,016,063
13.07.
12.68
18.28
6.59
4.
10.
13.14
68.119,766_:f5.074.935l_7JL44
Mexican currency,
b Does not include earnings of Colorado SpringsA Cripple Creek District Railway from Nov. 1 1911.
e Includes the Bos¬
ton A Albany, the New York A Ottawa, the St. Lawrence A
Adirondack and the Ottawa A Now York Railway,
the latter of which, being a Canadian
road,does not make returns to the Inter-State Commerce Commission.
/Includes Evansville A Terre Haute and Evansvilla A Indiana RR. <7 In¬
cludes the Cleveland Lorain A Wheeling Ry. in both
a
years.
" n
Includes the Northern Ohio RR.
p
Includes earnings of Mason City A Ft. Dodge and
Wisconsin Minnesota A Pacific,
s Includes Louisville A
Atlantic and the Frankfort A Cincinnati,
t Includes the Mexican
International.'
u Includes
the Texas Central in both years and the Wichita Falls Lines in
1912, beginning Nov. 1.
v Includes not only operating revenues,
but also all other
receipts,
x
Includes
St* Louis
Iron Mountain
A.J3ou,tben},.
- ~
—
«
-
-
-
-
358
CHRONICLE
THE
[Vol.
Gross
Latest Gross Earnings by Weeks.—In the table
follows
of
we sum
Juty.
crease
which
separately the earnings for the fourth week
up
de¬
covers 36 roads and shows 0.68%
in the aggregate under the same week last year.
The table
Fourth Week of July.
1913.
17,712
133,122
61,763
308,265
—_
703,400
181,100
37,104
107,600
...
Canada
Louisville
&
Mexico
Nashville....
Mineral Range
...
Minneapolis & St Louis
1
Iowa Central
/
Minneapolis St Paul & S S M__
—
12,511
84,931
11,594
73,085
104,484
627,656
106,374
523,818
Sierra Pacific Elec.a—June
Jan 1 to June 30—
53,605
324,062
52,517
308,566
32,435
196,447
33,187
189,196
Net earnings heie given are after deducting taxes,
b Net earnings here given are before deducting taxes.
After allowing for outside operations and taxes, operating income for
1913 was $322,881, against $488,595; and from July 1 to June 30
$8,194,317 in 1913, against $5,885,363 last year.
g These results are in Mexican currency.
h After allowing for additional income for the month of
June, 1913, total
c
133,000
June
was
22,877
11,371
8,571
38,979
net
44
14", 165
~9~, 100
1,809
earnings were $217,104, against $182,964 last year, and for period from
July 1 to June 30 were $2,623,844 this year, against $1,463,210.
s After allowing for miscellaneous
charges to income for the month of
June 1913, total net earnings were $14,351, against $255,904 last
year;
and for the period from July 1 to June 30 were $1,229,599 this
year, against
$2,519,142.
~2", 494
1,658,446
1,544,003
114,443
285,000
271,162
1,603,340
13,083
203,486
279,000
294,854
1,474,090
24,241
206.571
6,000
737,244
639,320
832,449
1,569,000
324,035
1,878,465
15,581
374,000
1,861,586
424,329
46,345
79.369
Charges and Surplus.
—Int., Rentals, &c.— —Bal. of Net Earns.—
Missouri Kansas & Texas
Mobile & Ohio
975,984
1,778,000
361,081
...
National Railways of Mexico.
883,355
_
Rio Grande Southern
16,583
346,000
1,766,863
469,882
St Louis Southwestern
Southern Railway
Texas & Pacific
Toledo Peoria & Western..
Toledo St Louis
& Western.
_
43,803
115,616
_
Previous
Year.
Year.
Current
Year.
$
$
$
Duluth So Sh & Atl
129",250
11,158
3,085
June
July 1 to June 30..
97,924
143,535
Mineral Range
June
July 1 to June 30——
N Y Ont & Western
June
July 1 to June 30
209,000
37,046
—
...
.
July the returns of 37 roads show
:.-v\
Month of July.
1913.
%
$
$
65,944,636
5.54
+3,654,488
a
-Gross
Roads.
2,757,951
Current
Previous
Year.
Year.
Year.
Year.
$
$
s51,339
si,893,613
S281.691
S3,154,294
Cln Ham & Dayton.b— June
931,268
.10,071,297
July 1 to June 30
'
309
July 1 to June 30.
Denver & Salt Lake.b._June
...
Duluth So Sh & AtLb.. June
July 1 to June 30--,—
June
July 1 to June 30..—.
2,206
10,215
5,363
16,355
97,888
8,872
53,206
25,948
162,989
19,805
110,557
2,276
13,598
1,941
11,654
9,076
69.290
8,839
61.376
June
929
4,861
688
11,603
68.971
12,163
55,425
Houghton Co Elec Lt_.June
4,215
23,215
5,106
47,214
3,037
41,970
Blackstone Vail G&E—June
Jan 1 to June 30
Edison Elec (Brockton)-June
Jan 1 to June 30.—
—
Lowell Elec Lt Corp
Jan 1 to June 30
,
-
169,191
2,009,307
2,508,068
512,861
6,173,628
469,284
5,258,532
161,006
1,673,139
117,769
1,208,668
108,712
1,156,952
104,388
26,882
295,609
342,642
3,412,831
1,197,595
28,457
268,633
297,199
3,152,475
85,087
688,341
655,801
7,613,456
3,529,433
.
243,225
691,680
8,657,716
282,585
;
50,133
757,314
291,354
3,114.040
6,797,700
5.830.534
2,390,460
2,006,103
—78,654,591 66,160,622 32,825,951 28,550,053
Hocking Valley.b.
June
723,501
July 1 to June 30—— 7,817,644
666,228
320,075
7,303,679
2,833,801
279,444
2,724,637
Lehigh Valley.b_—
June 3,743,478
3,649,193
1,132,826
1,772,036
July 1 to June 30—
43,043,372 36,905,935 13,935,552 12,185,685
Maine Central.b
V
..June
942,991
913,329
July 1 to June 30
11,331,406 10,643,051
Mineral Range.b
.June
July 1 to June 30
*
66,520
844,457
Minneap & St Louis.a.June
770,024
July 1 to June 30-—.— 9,707,003
Mississippi Central.b—June
86,654
r
July 1 to June 30—
1,054,547
— .-
Mo Kan & Texas.b
June
July 1 td June 30
Nash Chatt & St L.b—June
July 1 to June 30
■
13,317,162
13,113
164,453
June
340
1,616
1,601
9,427
12,171
83,315
9,993
63,658
38,466
235,538
41,449
248,239
66,018
392,118
64,925
275,579
6,049
35,260
5,321
32,488
26,386
161,187
27,866
156,708
Sierra Pacific Elec
June
Jan 1 to June 30
*
After allowing for other income received.
EXPRESS COMPANIES.
April
'■
Express privileges—Dr
Norfolk & Western.b—June
3,742,889
July 1 to June 30——43,739,921
Pere Marquette_a.——June 1,309,768
July 1 to June 30
17,406,755
280,788
Total operating revenues.
84,982'
892,437
42,877
444,150
39,622
351,105
C434.692
c9,537,846
c589,686
c6,980,870
146,707
2,878,379
242,400
2,883,804
■
995,858
12,262,675
3.457.322
39,735,237
1,199,206
1,174,703
15,174,108 14,065,807
1,347,978
16,676,428
259,219
2,968,612
239,675
2.575.535
92,438
1,156,611
74,808
900,215
Rock Island Lines.b.._June 6,375,933
July 1 to June 30—
71,364,934
6,076,920
64 712,854
2,137,907
18.860,833
2,812,343
17,953,360
303,902
1,617,286
61,212
277,246
86,741
348.410
960,049
949,187
July 1 to June 30———13,296,950 12,042,543
146,659
3,599,816
216,188
3,150,072
218,059
2,601,304
157,160
1,762.201
Rich Fred & Potom.b—June
—
June
Jan 1 to June 30
323,455
1,711,745
St Louis Southwest.a.-June
Virginian, a
...June
499,553
July 1 to June 30
6,189,760
411,428
4,928,193
217,131
2,524,743
Abington & Rockland Elect
Light & Power Co.a. June
720,039
6,855,507
6,650,993
556,168
5.626.3J8
5,262,696
Net operating revenue
One-twelfth annual taxes
135,885
12,595
163,870
12,755
1,179,189
133,181
1,388,296
140,422
151,114
1,046,008
1,247,874
123,290
Operating income
April
1913.
Great Northern Express Co..
Gross
Vail G&E a June
Jan 1 to June 30
8.096
52,261
2,515
12,108
6,488
103,534
643,873
455
94,053
584,804
42,303
260,877
28,677
163,763
Edison Elec (Brockton) a June
Jan 1 to June 30.
33,146
219,172
29,014
189,397
11,352
82,888
10,780
,<73,030
Fall River Gas Wks.a—June
Jan 1 to June 30—
40,123
232,089
38,220
217,213
12,532
73,832
12,851
59,220
22,198
152,192
19,441
145,045
9,321
70,429
7,087
64,870
Jan
1
to June
a June
30—-L—
.
„
$
$
145,149
234,255
141,397
2,778,771
1,672,788
2,336,160
1,429,336
Total operating revenues..
Total operating expenses....
97,236
80,838
92,858
77,833
1,105,983
857,703
906,823
765,790
Net operating revenue
One-twelfth annual taxes—
16,398
15,024
4,046
248,280
40,092
141,033
31,526
Operating income.—
13,508
10,977
208,187
109,507
2,889.
ELECTRIC RAILWAY AND TRACTION COMPANIES.
Latest Gross Earnings.
Name of
Road.
Week
or
Month.
American Rys Co— June
Atlantic Shore Ry_— May
Ch Ry. May
Co May
Elec Co June
Belt Line.
April
Brazilian Trac, L & P June
Brock & Piym St Ry_ June
Bklyn Rap Tran Syst April
Cape Breton Elec Ry June
Chattanooga Ry & Lt May
Cleve Painesv & East June
Cleve Southw & Col- June
c
*
Aur Elgin &
Bangor Ky & Elec
Baton Rouge
Columbus
(Ga) El Co May
Commonw
P,Ry& Lt. April
Coney Isl & Bklyn.—
Dallas Electric Corp.
Detroit United Ry._
D D E B & Bat (Rec)
_
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
168.721
60,285
12,299
62,334
1916,693
12,102
30,644
123,315
40,989
—
...
April
June
3d wk July
April
Duluth-Superior Trac June
East St Louis & Sub. May
El Paso Electric Cos. June
42d St M & St N Ave April
Galv-Houst Elec Co. June
Grand Rapids Ry Co May
Harrisburg Railways June.
111,601
48,717
545,577
118,205
168,592
263,184
52,566
110,530
221,798
68,170
157,401
206,916
107,572
$
417,804
25,207
159.261
53,790
2,427,098
120,618
720,450
289,041
12,420
74,343
54,272
242,880
1733,979 11,552,887
11,766
2002,510 1937,196
_
Jan. 1 to latest date.
Current
446,472
28,927
—
29,448
88,888
40,935
105,173
43,372
490,119
110,535
142,342
233,652
53,837
98,894
196,824
53,466
7.504,169
174,625
493,372
188,540
575,158
239,440
2,276.200
437,398
1,028,204
7,061,516
195,876
596,107
1,055,475
439,012
604,622
1,112,249
510,598
467,987
2;288,501
115,009
681,114
262,567
71,508
198,912
9,942,639
51,370
7.372,688
161,015
409,089
175,985
540,343
214,169
2,007,485
411,716
841,483
6,080,742
206.075
549,431
954,431
372,597
543,796
923.076
484,640
♦
85,812
60,175
146,685
171,085
102,627
78,905
55,588
51,358
1,669,253
1,459,943
50,039
26,163
45,728
27,379
305,959
148,635
273,504
144,614
437,151
Havana El Ry, L & P
3
& Land Co
June
Houghton Co Tr Co. June
Hudson & Manhattan Arpil
—
Bladkstone
1 to April 30—
1912.
1913.
$
——July
my
1912.
242,386
receipts from operation
Express privileges—Dr—_.
—
64,889
11,137
1 to June 30
Houghton Co. Elec Lt
$
557.263
Wk Aug
(Railway Dept)
Honolulu Rapid Tran
INDUSTRIAL COMPANIES.
Jan
1912.
$
1,508,027 13,633,891 13,026,078
6,375.085
787,988
6,778,384
693,148
124,731
def2,309
2,988,441
;
1913.
$
Total Operating expenses.
def4,527
.
Rutland _b_
1912.
$
695,520
.
July 1 to April 30—
1913.
1,388,668
—--
July 1 to June 30
,
2,952,205
Nat Rys of Mexico...June 3,096,218
4,808,044
270,640
1,117,761
July 1 to June 30.
,.57,370,282 61,447,791 21,126,335 23;012,536
NY Ont& Western, a.-June - 816,012
797,529
272,611
229,715
July 1 to June 30
9,454,349
8,527,944
2,724,216
1,797,477
V
4,050
22,900
Pacific Light & Power.-June
Jan 1 to June 30
701,842
7*208,996
>1173,741
7,826,222 hi,617,373 hi,443,708
2,351,588
2,097,923
32,346,258 28,186,719
1,068,182
145,763
3,084,408
65,007
770,248
g
,
3,795
.
$
June
July 1 to June 30
267
188
1,125
,
Western Pacific.b__^June
Great Northern.b
I'
819,769
9.825.321
■
■
1,893
Southern Express Co.— *
Gross receipts from operation
■Net Earning sCurrent
Previous
Earnings-
Chicago & Alton_a____June 1,253,247
1,144,804
July 1 to June 30-.-.-.15,254,865 14,535,722
El Paso Southwest.b
126,750
473,729
Abington & Rockland Elect
Light & Power Co...June
Net Earnings Monthly to Latest Dates.—The table
following shows the gross and net earnings of STEAM rail¬
roads and industrial companies reported this week:
;
July 1 to June 30
xdefl2,131
227,576
*29,580
*79,018
2,430,296 *1,885,188 *1,617,619
July 1 to June 30
'
that there is
Denver & Rio Grande—
xdefl2,878
X7.607
136,248
1,211,633
461,300
1933,294
*864,592
5.625,920x11,198,641 *9,587,817
Jan 1 to June 30-.
gain on the roads reporting
of $3,654,488, or 5.54%,.
in the amount
xdef 1,001
102,965
1,323,748
232,370
Fall River Gas Wks__
Jan 1 to June 30
Increase.
1912.
69,599,124
as
r V
$
Gross earnings (37 roads)._
seen
; 10,755
147,083
INDUSTRIAL COMPANIES.
2",542
36",247
'
It will be
14,486
161,774
136,363
452,056
5,471,436
July 1 to June 30
"
21,077,101 21,220,128 1,164,877 1,307,904
143,027
follows:
$
*def46,815
St Louis Southwest._..June
94,723
45,553
Ye
June
995,115
28", 600
100,537 *defl7,823
Previous
1,160,983xdef537,520xdef362,972
1,512,583
-
Norfolk & Western
"T662
106,122
1,265,005
Jan 1 to June 30
Total (36 roads)
Net decrease (0.68%)-..
For the month of
Current
Roads.
23", 692
—
Missouri Pacific
Year.
31,762
206,051
Atlantic
of
Previous
209,590
1,207,413
Interest
International & Great Northern
$
227,658
1,362,907
Det Grand Haven & Milw__
Interoceanie
$
34,695
223,127
Grand Trunk of Canada
Grand Trunk Western..
Year,
a
~9~, 338
,
Current
Year.
Pacific Lt & Power a. .June
Jan 1 to June 30
7,419
270,596
348,998
43,070
Earnings
Previous
Year.
Lowell Elec Lt Corp.a.June
Jan 1 to June 30
118,557
99,100
1,829,700
3,776,000
1,073,571
291,409
187,192
-
Decrease.
Increase.
1912.
$
Alabama Great Southern,*
150,834
Ann Arbor.
69,182
Buffalo Rochester & Pittsburgh
426,822
Canadian Northern
1,928,800
Canadian Pacific.
3,643,000
1,082,909
Chesapeake & Ohio
314,286
Chicago Great Western
198,563
Chicago Indianapolis & Louisv.
Cincin New Orl & Texas Pacific
279,167
Colorado & Southern.
387,977
Denver & Salt Lake...
43,114
Denver & Rio Grande
689,300
Western Pacific
190,200
Detroit & Mackinac.
..
38.913
Duluth South Shore & Atlantic105,106
Net
Earnings
Current
Companies.
xcvii.
Idaho
Illinois
Traction Co.. June
Traction
May
Interboro Rap Tran. June
Jacksonville Trac Co. June
Lake Shore Elec Ry.
Lehigh Valley Transit
Lewis Aug & Water v.
Long Island Electric.
Milw El Ry & Lt Co.
June
July
May
April
May1
p
i
.....
322,078 314,532
1,286,645
1.249,947
34,772
199,471
189,313
36,425
621,154 577,021
3,105,274
2.930,888
2591.271 2507,143 16.760,698 16,395,469
56,702
50,174
301,020
331,498
120,914
587,251
127,571
626,502
140,568
121,543
795,577
935,050
49,814
210,541
54,957
239,127
15,410
55,049
17,336
62,237
490,669 461,401
2.325,541
2.485,909
-
.
Aug. 9
1913.]
CHRONICLE
THE
Latesr Gross Earnings.
359
-Int., Rentals,
Jan. 1 to latest date.
Current
Name of
Road.
Week
or
Month.
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
Roads.
Year.
$
Northern Texas Elec—June
$
113.994
78,737
184.147
48.663
$
Mllw Lt, Ht & Tr Co May
Monongahela Val Tr. June
Nashville Ry & Light May
N Y City Interboro__ April
N Y & Long Isl Tr... April
N Y & North Shore.. April
N Y & Queens Co
New York Railways.
Northam Easton & W
North Ohio Trac & Lt
72,400
173,675
36.107
June
18.723
291,518
15,827
276,961
North Texas Elec Co June
174,568
144,974
*
Northw Pennsylv Ry May
Ocean Electric (L I). April
Paducah Tr & Lt Co. June
Portland
(Me) RR__ May
Puget Sound Tr L&P May
Richmond Lt & RR_ April
8t Joseph (Mo) Ry.Lt,
Heat & Power Co. May
Santiago Elec Lt & Tr June
69,391
83.044
15,779
19,499
69,774
328.335
175,026
Staten Isl'd Midland. April
June
Tampa Electric Co..
Third
Avenue
April
Twin City Rap Tran. 3d wk July
*
82,402
1,377,335
795,344
115.214
19,502
138,138
138,566
7,784,912
2,724,648
364.414
138,163
7.321,162
2,669,653
341,772
3,464,329
100,294
3,423.922
96,553
94,248
503.415
30,247
65,016
224,885
402,584
75,862
10,593
18,686
61,874
308,719
158,085
318,712
57,180
71,507
395,701
1,287.850
4,751,728
473.233
191,943
363,021
286,264
38,270
68,015
370,101
1,219,038
4,403,233
98,836
37,613
Savannah Electric Co June
Second Ave (Rec)
April
Southern Boulevard. April
387,024
1,037,372
134,323
108,224
42,125
375,496
5,612,566
114,394
44,713
408,969
5,848,536
88,232
1.497,237
1,009,294
129,344
20,628
138,806
26,674
30,874
6,150
6,542
21.817
23,760
23,946
24,050
1998,245 1903,908
549,852
543.813
79,691
77,570
715,073 681,003
26.615
25.854
Pensacola Electric Co June
Phila Rap Trans Co. April
Port (Ore) Ry L&PCo May
434,399
184.453
30.853
30,833
12,185
11.816
107,596
103,356
1232,153 1215,048
April
May
June
511,566
442,066
892,438
of London
Underground Elec Ry
London Elec Ry__ Wk July 26 ~£12,655
£11,850
£421,980
£416,210
£12,785
£12,022
£394,737
£378,638
Metropolitan Dist. Wk July 26
London Gen Bus.. Wk July 26
£59,881 £1,849,062 £1,452,566
£68,381
Union Ry Co of NYC April
214,788 200,099
801,619
741,075
Union RyG&E Co (111) May
395,679 275,795 1,950,386
1,478.606
United Rys of StL— May
1120,757 1085,013 5.144,938 4,901,759
Westchester Electric- April
38,940
42,644
161,726
163,775
Western Rys & Light June
204.435 182,981
1,206,239
1,065,406
Yonkera Railroad
68,635
63,710
April
194,896
221.569
York Railways
65.684
58,329
300,631
280.263
May
18,683
Younsgtown & Ohio. May
94,540
21,020
89,971
14,585
13.558
Youngstown & South May
63.692
69,206
61,997
302,186
47,826
129,705
June
7,540
43,416
7,156
41,859
773
def605
def 1,948
June
Jan 1 to June 30——
6.604
38,549
6,377
38,263
2,108
8,135
3,562
12,140
'22,576
125,561
16,034
95,808
1,042
2,447
59
Jan
These figures are
to June 30
1
Pensacola Elec
June
Savannah Elec
Jan 1 to June 30
Schenectady Ry—
Apr 1 to June 30,
Jan
1 to June 30
Jan
39,684
78,308
*105,514
*184,003
*90,999
*153,235
4,529
28,058
4,364
26,673
24,043
153,224
25,619
147,769
June
8,925
53,441
8,810
51,451
*7,360
*42,557
*8,393
*43,190
to June 30
1
Jan
After allowing for other income received.
ANNUAL
Lehigh Valley Railroad.
{Report for Fiscal Year ending June 30 1913.)
On
subsequent
low
are
comparative figures of operating results and income
and comparative balance sheet:
account for several years
Net
-Gross EarningsPrevious
.
Baton Rouge Elec.a...June
Jan 1 to June 30-'—
—
Jan
&
Plym.a
1
to
Year.
$
$
$
12,420
71,508
Previous
Year.
$
4,002
29,077
4,988
28,666
June
12,102
53,466
11,766
51,370
3,122
7,609
30,644
174,625
29,448
161,015
12,732
71,010
12,656
63,260
19.257
June 30
Cleve Painesv & East
Year.
June
1 to June 30
Cape Breton Elec.a
Jan
-
Earnings
Current
Year.
12,299
74,343
3,494
9,533
-
June
40,989
188,540
40,935
175,985
81,944
18,576
67,281
Dallas Elec Corp_a.l-.June
Jan 1 to June 30.
168,592
1,028,204
142,342
841,483
68,101
411,855
54,735
306,692
June
1,165,241
6,276,238
1,026,897
5,390,568
393,067
2,062,209
358,702
1,895.570
June
68,170
439,012
60,175
372,597
29,394
200,890
27,316
170,343
206,916
1,112,249
171,085
923,076
95,009
461,969
364,074
Honolulu R T & Land b June
Jan 1 to June 30
50,039
305,959
45,728
273,504
19,378
131,614
Houghton Co Trac.a_.June
26,163
148,635
27,379
144,614
11,696
12,707
55.959
55,066
Jan
a
1 to June 30
-
Detroit United.b
Jan
1
to June 30
El Paso Elec Co.a
Jan 1 to June 30
Jan
Jan
1
1
to June 30
to June 3Q
Jacksonville Trac. a
Jan
1
June
to June 30
Jan
1
50,174
301,020
56,702
331,498
20,340
117,155
.
21,145
127,836
16,817
107,716
41,035
June
22,458
127,571
to June 30—626,502
Northern Texas Elec.a.June
53,165
221,735
56,620
228,719
144,974
795,344
80,990
444,334
68,671
354,775
23,760
438,806
21,817
138,138
8,313
42,811
7,973
39,911
Pensacola Elec.a
.---June
Jari 1 to June 30-
24,050
138,566
23,946
138,163
8,712
46,684
9,939
50,403
Savannah Eiec.a
Jan 1 to June 30
69,391
402,584
65,016
363,021
23,618
12a,008
16,038
95,867
1 to June 30—r—
Paducah Trac & Lt.a.-June
Jan
1
to
June 30.
June
Schenectady Ry_ b—
Apr 1 to June 30
Jan
Av.
rev.
1.792 cts.
per pass, per m.
1.775 cts.
1.771 cts.
1.749 cts.
'
lileage
Passenger train mileage.
4,491,013
Pass. rev. per train mile 108.38 cts.
Av. No. pass, in each tr.
60.50
No. tons carr. (rev. fgt.) 32,367,796
Tons 1 mile (rev. fgt.)*_
5,812,385
Freight train mileage
9,703,311
Average rev. per ton per
mile (revenue freight)
0.636 cts.
Freight
train
earnings
(rev.) per train mile—
$3.78
Average No. tons in each
train (revenue freight)
599.01
4,523,420
4,448,049
4,150,858
103.99 cts.
58.58
102.70 cts.
58.00
104.32 cts.
59.65
28,013,300
4,785,077
8,452,978
28,512,312
4,884,206
8,975,970
27,181,537
4,736,558
8,733,264
0.646 cts.
0.652 cts.
0.646 cts.
$3.65
$3.55
$3.50
566.08
544.14
542.36
Three 000s omitted.
OPERATING REVENUES, EXPENSES, ETC.
Revenue from Oper.—
1911-12.
1910-11.
1909-10.
$16,301,316 $17,155,534 $15,821,798
14,591,240
14,687,291
14,757,799
4,867,554
4,703,734
4,568,030
4,330,172
191,821
191,704
190,760
193,860
506,191
471,957'
453,820
462,438
415,732
379,919
360,717
356,165
336,936
266,065
271,251
245,166
1912-13.
,
Coal freight revenue.-$20,385,389
Mdse. freight revenue— 16,339,749
Passenger
Mail
revenue.-.-.
revenue
,
Express revenue
Other transport'n
Miscellaneous
rev..
revenue.
_
■
350,941
.
c. oper.
expenses.$29,107,820 $24,720,250 $23,407,318 $21,684,147
(67.62)
(66.98)
(62.11)
(59.95)
13,935,552 $12,185,685 $14,280,085 $14,483,251
280,210
291,239
320,170
146,333
exp. to rev..
Net operating revenue—
Outside oper—Net defTotal net
revenue.
—
Taxes accrued—
.
311,085
586,615
661,909
-
Total oper.
P.
,
1 to June 30
revenue-$43,043,372 $36,905,935 $37,687,403 $36,167,398
•
<
Operating Expenses—
Mamt. of way and struc. $5,694,422
$3,963,589
$3,620,176 ' $3,462,903
Maint. of equipment...
6,313.317
7,561,271
6,003.287
5,995,810
Traffic expenses
'
980,117
982,858
1,010,675
918,720
Transportation expenses 13,993,617
12,606,962
11,979,278
10,593,565
General expenses
875,651
856,265
793,902
713,149
"
120,914
587,251
174,568
1,009,294
Jan
1909-10.
1910-11.
1,451
1,441
1,432
Average miles operated.
1,440
$29,665
$25,112
Oper. revenue per mile$25,616
$26,313
Net earnings per mile
$9,604
$8,458
$10,056
$9,970
No, passengers carried—
5,518,524
5,349,848
5*172,961
5,359,754
No. pass, carried lmile.271,691,102 264,996,053 257,962,043 247,596,196
Average distance each
49.23
47.86
49.53
48.13
pass, carried (miles)__
76,592
'
1911-12.
Total oper.
Kingston Consol Ry.b—
Apr 1 to June 30
Lake Shore Elec.a
1912-13.
♦
Galves-HoustonElec.a.June
'
operations.
Current
Brockton
will be found the remarks of President
pages
E. B. Thomas at length, and also the profit and loss account
for the late year and the balance sheet of June 30 1913.
Be¬
for consolidated company.
Railway Net Earnings.—The following table
gives the returns of ELECTRIC railway gross and net
earnings reported this week:
■
REPORTS.
Annual Reports.—An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each month.
This index will
not include reports in the issue of the "Chronicle" in which
it is published.
The latest index will be found in the issue
of July 26.
The next will appear in that of Aug. 30.
Electric
Roads.
4
42,829
84,073
to June 30
1
Wisconsin Gas & El
817
June
Elec
Tampa
.....
c
$
20,845
125,070
Paducah Trac & Lt
*
$
18,993
142,148
1 to June 30
Jan
$
97.041
Ac.— - -Bal. of Net Earns.—
Previous
Current
Previous
Year.
Year.
Year.
147,808
266,571
129,791
227,860
Operating income
_$13,655,342 $11,894,446 $13,959,914 $14,336,918
1,447,205
1,312,012
1,145,477
1,106,762
$12,208,137 $10,582,434 $12,814,437 $13,230,156
'
Tampa Elec.a—-—June
Jan
1
69,774
to June 30——
395,701
Wisconsin Gas & Elec.a June
Jan 1 to June 30-
58,167
359,877
,
•
61,874
370,101
•
'
"
56,357
324,361
28,572
181,282
29,983
174,442
16,082
91,906
16,732
92,419
INCOME ACCOUNT.
1912-13.
I
286,733
416,543
666,123
382,314
552,041
461,579
611,530
Roads.
Current
Previous
June
Year.
Year.
2,075
12,118
Total income... 14,511,892
12,698*896
Divs.
-Bal. of Net Earns.—
Current
Previous
Yegr.
$
Baton Rouge Elec..
Jan 1 to June 30
Joint tacils.—rents
Charges and Surplus.
1,734
10,383
2,913
16,548
2,268
18,694
1,116
6,629
1,050
6,310
2,006
980
3,.223
6,082
36,222
5,702
34,016
6,650
34,788
6,954
29,244
10,396
62,545
9,777
59,429
8,861
19,399
8,599
7,852
Jan
1
to June 30
June
24,691
144,890
24,666
139,341
Detroit United
June
179,245
1,076,108
176,174
1,066,026
June
2,513
6,464
17,042
June
34,755
208,528
Jan
1
to June 30
El Paso Elec Co...
Jan
1
to June 30.
Galves-Houston
Jan
1
El
to June 30
Honolulu R T & Land..June
Jan
1 to June 30.4.----
Houghton Co Trac...June
Jan
1
to June 30
Jacksonville Trac.
Jan
1
..June
to June 30
Kingston Consol Ry—
Apr 1 to June 30—
Lake Shore Elec..
H£Jan 1 to June 30
June
bonds.
2,444
1913.
66,849,404
59,991,307
Secure.unpledged 12,360,230
Advances.
4,240,669
30,069
167,351
Secure, in treas.
41,045
*201,073
*929,917
20,852
129,298
33,860
203,599
60,254
253,441
42,732
160,475
Traffic, Ac.,bals.
7,027
40,580
7,095
40,653
*12,821
*94,044
*14,351
*90,240
5,629
33,858
5,707
33.111
6,067
22,101
21,955
10,513
9,821
65,629
57,619
9,827
51,526
6,996
50,097
35,315
210,286
•
7,000
10,808
35,137
208,874
17,850
11,449
Real
479,786
estate,.
Cash
13,149,152
17,211,000
Marketable secur
Agents & conduc
Materials & supp
Mlscell.
accts..
Accr.int.,rents,Ac
Prepaid Ins., Ao.
Other def. debit
items
Total
\,
$
3,127,360
1911-12*
$
3,167,635
-
of other roads..
2,239,295
Joint facils.—rents
167,062
161,946
54,399
2,239,295
153,927
Misc. tax accruals
139,300
Mlscell. deduct'ns
185,719
Pref. divs. (10%).
10,630
*10,630
Com. divs. (10%) 6,050,170 *6,050,170
Total
deduct'ns.11,810,864 11,946,676
752,220
Balance, surplus.. 2,701,028
—
$
64,604,921
58,560,065
12,252,269
3,979,594
479,786
15,815,693
16,808,000
325,000
320,000
1,124,512
163,023
3,865,346
1,629,152
390,717
158,100
1,124,454
57,904
2,535,143
2,722,889
206,000
155.460
•
.1913.
Liabilities—
Common
$
stock.
Preferred stock.
Mortgage bonds
Coll. trust bonds
Equip, tr. obligs
Real estate mtgs
Traffic,Ac.,bals.
Vouch.
& wages
Matured lnt ,Ac.
Oth. work. liab.
Miscell.
accts..
Int.,Ac.,accrued
Divs. due JUly 13
Taxes accrued.
_
Def. cred. items
782,013
paid
SHEET JUNE 30.
745,112
182,719,411 180,367,290
Profit and
Total
--
60,501,700
106,300
67,639,000
13,000,000
5,200,000
1,669
71,027
3,715,180
396,325
977,426
188,718
908,956
3,030,400
597,735
1,318,742
loss__*25,066,231
—
1912.
$
60,501,700
106,300
67,639,000
14,000,000
4,750,000
116,669
475,300
2,637,759
401,314
541,079
193,772
922,042
3,030,400
654,555
952,697
23,444,703
182,719,411 180,367,290
After deducting $980,362 for reduction of book value of capital stock
of Coxe Bros. & Co., Inc., $87,562 for property abandoned and $11,576
for miscellaneous adjustments.—V. 96, p. 1772.
*
21,483
19,845
fund. debt.
1912.
$
Road & equip..
Secure, pledged.
266,965
11,650
654,495
BALANCE
*234,736
*1,104,533
26,881
183,848
43,410
on
♦Also special dividend of 10% on the preferred and common stocks,
on Feb. 26 1912.
Assets—
Dallas Elec Corp
Jan 1 to June 30
Int.
.
.
Brockton & Plymouth. .June
Jan 1 to June 30
Cleve Painesv & East—June
Jan 1 to June 30
stocks
on
Miscellaneous.-..
72,257
316,599
Year.
Cape Breton Elec
June
on
Interest
1912-13.
Dedtict—
$
Deduct'ns for lease
Hire of equipment,
balance
...
-Int., Rentals, Ac-
1911-12.
Operating income. 12,208,137 10,582,434
Other Income—
Net earnings here given are after deducting taxes.
bNet earnings here given are before deducting taxes.
a
Interest
'
$
.
I
CHRONICLE
THE
360
Deduct—Rents accrued for lease
of other roads.
Lehigh Valley Coal Company.
{Report for Fiscal Year ending June 30 1913.)
Results.—The total net income, after deducting interest and other charges,
$1,471,275, an increase of $309,033.
This is not, however, a normal
increase, owing to the suspension of mining during April and May 1912,
agreement with employees.
The produc¬
tion of anthracite coal from the lands owned and leased .including that
a new
mined by tenants, was 8,860,032 gross tons [against 8,224,317 tons in year
1911-12].
From the Snow Shoe lands, 350,105 gross tops of bituminous
coal were mined—increase 70,021 tons.
Additions and Betterments .—rThese cost $312,211.
The old breaker at
Franklin Colliery is being replaced by a new fireproof breaker of consid¬
erably greater capacity.
The work of modernizing the breaker, &c., at
Park Colliery has been carried on, but without interfering much with regu¬
lar operation. An electric haulage plant has been installed at Packer No. 4
colliery.
A new washery is building to re-work the culm banks on the west
end of the Delano lands.
Court in
anthracite mining companies,
your company is no longer purchasing coal from other producers under
65% contracts or any similar arrangement, and has no interest in any min¬
ing operations other than those conducted by it on its own lands or by ten¬
the Government suit against this and other
ants who lease lands from the company.
Int. accr'd
on
Interest
loans
on
fund, debt
Divs,
on common
Total
Depreciation Due to Coal Mining.—Acting with the advice of expert ac¬
a charge is being made to income account, beginning with the
present fiscal year, to measure the depreciation on the basis of coal mined,
this charge being credited to a reserve account.
Such additions and bet¬
terments as are made to the property are being charged to capital account
and thus appear on the balance sheet.
The accounts since Jan. 1 1909
fully appears below.
Financial.—The "deferred real estate payments," representing shortterm notes given for the acquisition of property in previous years, have been
$800,000; $109,379 was paid to
sinking funds.
Current assets are $2,408,035 in excess of current liabilities.
[An ally of the Lehigh Valley RR., which see above.]
Total surp. beginning yr. $3,486,637
Net income for year—.
1,471,275
Xmpts. Jan.
$2,272,897
1,136,543
$3,393,443
1,512,844
$4,864,200
1,162,241
June 30'12, originally
deducted from income
Cash
i
_
Securities held in treasury
balances.
Traffic
Agents and conductors
Materials and
supplies
Miscellaneous
Special deposits
Sinking, insurance, &c., funds
Other deferred debit items
—
stock
Preferred
stock
of
impts.,
1
'09
to June
Jan.
— _
$6,365,829
$6,026,441
30
1912—.
Funded debt held by public (see
& Indus." Section).—
Int.
on
50,000
35,349
42,087
10,924
15,998
1
$2,651,590
$42,087
$2,539,804
$3,486,637
Total surp. end year. $3,714,239
balances..
Vouchers and wages
1913.
1912.
$
$
Liabilities—
$'■
1,965,000
1,965,000
20,296,000 20,296,000
Audited vouchers.
796,995
1,354,477
_
2,497,031
2,290,059
4,494,778
110,547
4,497,101
56,143
440,727
Advances for coal¬
Insurance fund
Cash....
1,801,270
Mat'ls & supplies.
424,102
Bills receivable
4,000
Due
....
from
42,244
71,565
62,431
43,563
413,900
800,000
349,142
Depr. & oth. res've 6,502,966
77,140 Profit & loss
3,714,239
1,241,045
266,214
2,883,544
3,486,637
assets.
due & accrued..
35,561,019 32,610,863
-V. 95. p. 477.
413,900
pay's
Miscellaneous
2,557,355
72,080
588,917
'
Int. on funded debt
43,004
Def. real est.
companies. 2,256,713
Insurance & other
Total
618,101
Royalties on coal
mined,due lessors
318,535
indiv'ls
and
deferred
due&unp'd
Due indiv'ls & cos.
Wages
rights.„
,
35,561,019 32,610,863
Total
Buffalo Rochester & Pittsburgh
Railway.
1911-12.
570
1912-13.
Eoad operated June 30.
—.
1910-11.
1909-10.
573
567
292
290
294
311
120
105
-104
102
15,745
16,342
237
210
1,817,038
51,751,214
2.060 cts.
6,950,767
627,206
10,282,251
1,586,838
47,802,085
576
•
\
16,731
17,284
273
305
Operations—
-
Passengers carried
2,023,620
Passengers carried 1 mile 54,573,203
Rate per pass, per mile.
2.066 cts.
Tons bltum. coal carried
7,980,204
593,447
Total tons (all fr't) car'd 12,490,608
Av. dis. haul. 1 ton mile
163.4
Freight (tons) 1 mile—2010358520
Rate per ton per mile—
0.461 cts.
__
•
/
1,942,226
51,101,188
2.071 cts.
'7,188,280
538,452
10,698,149
159.3
1704307001
0.480 cts.
Below
comparative statement showing the com¬
three years of the Chicago
the Chicago Milwaukee &
Puget Sound Ry., which was taken over Jan. 1 1913, to
which we append the estimated charges and deductions for
dividends, the latter of which are not shown in the com¬
pany's statement.
'
■
•
we
give
a
bined gross and net earnings for
Milwaukee & St. Paul Ry. and
1910-11.
Miles
operated
Operating expenses..
Net
$24,148,513 $22,000,171 $31,200,087
209,476
133,582
174,748
earnings.
Net outside operations
.
—
..—$24,357,990 $22,133,753 $31,374,835
3,191.541
3,921,963
3,823,832
net—.
Operating revenues—
Passenger
Freight
Mail, express and misc.
Other operations.
1912-43;
$
1,127,612
9,411,879
293,691
114,064
Total oper. revenues.
10,947,246
1910-11,
$
$27,878,302
$11,513,647
8,115,233
5,797,300
stock dividends, 5%
-\
•
Operating expenses—
1911-12.
1912-13.
•
Operating income
$3,599,817
$3,150,072
$2,930,120
income--...
1,043,322
897,844
526,884
545,121
Total net income
$4,643,139
$4,047,915
$2,308,596
$3,457,004
$2,119,481
121,700
$3,003,264
Other
Dir.
on
pref. stock.
—
0.481 cts.
—V. 96, P-
.sur.$890,508sur.$722,405sur.$420,077def.$l78,217
1841.
1909-10.
-■>'
$
986,370
7,562,259
246,333
73,907
237,010
150,478
9,542,368
9,134,402
8,936,117
expenses
Total oper. expenses.
7,665,891
Net operating revenue..
Net rev. outside operi
3,281,355
6,464,229
3,078,139
def.7,365
Traffic expenses
Transportation
General
expenses
1,148,664
1,767,456
131,403
2,933,142
165,191
Norfolk &
Western
—
Miles
1,220,190
1,857,017
120,169
2,551,197
155,332
Freight
-
Total earnings
Operating Expenses—
Maintenance of way and structures..
sur.8
5,903,905
3,032,212
def .2,354
Traffic expenses
Conducting transportation
General expenses
3,273,990
216,000
3,078,147
204,000
2,986,557
212,000
3,029,858
188,095
Net
3,057,990
2,874,147
538,883
148.580
12,485
66,304
13,326
2,774,557
570,635
142,182
12,485
102,736
12,479
2,841,763
311,211
129,269
12,485
86,205
13,210
3,653,725
3,615,075
3,394,143
763,047
Rents—joint facilities
158,198
Divs.
Int.
on
stocks owned._
on sec.
loans&accts.
Miscellaneous...
12,485
68,934
16,054
-
Other income.
Operating income
-
earnings
Gross income.
Fixed
—
charges.
4,076,708
•
1910-11.
2,018
2,004
$
$
5,758,004
37,981,917
5,332,841
34,402,396
$
5,130,111
30,427,411
43,739,921
39,735,237
35,557,522
5,542,960
8,336,631
691,558
13,192,922
801,742
4,816,378
7,676,464
639,936
11,771,800
764,852
4,328,717
6,638,842
586,716
10,672,624
731,381
28,565,813
15,174,108
1,495,970
25,669,430
14,065,807
1,147,931
22,958,280
12,599,242
1,254,003
16,670,078
15,213,738
4,215,920
4,019,436
—— —
13,853,246
„
4,792,867
1,410,000
1,320,000
Dividends on pref. stock (4%)
'
919.668
919,668
Dividends on common stock. _.(6)abt.5,600,000(5^)4,668,438(5)3,499,137
Taxes
—.—
—
Total deductions..
Balance, sur. (approx. in 1913)
Total net income--.-
1911-12.
2,035
operated June 30—
Earnings—
Passenger, mail and express
6,145,856
2,988,546
def. 1,989
Rents—hire of equip...
.
EARNINGS, EXPENSES AND CHARGES.
Total expenses
Total
Ry.
{Preliminary Statement for Fiscal Year ending June 30 1913.)
Maintenance of equipment
Taxes accrued
$2,458,143
$2,636,249
$2,065,098
121,700
121,700
121,700
(5 %)994,682 (4 X)895,214 (4 %) 795,746 (5 %)994,682
Fixed chgs., rentals, &c_
Int. on 2d M. bonds—.
154.6
1909-10.
1910-11.
$12,042,543 $11,888,037 $10,986,516
8,892,471
8,957;917
8,528,372
Operating revenues..--$13,296,949
Oper. exp. and taxes.—
9,697,132
1572897173
1,065,983
7,748,179
1,195,263
1,807,077
120,108
3,137,300
204,481
"
$2,452,122
St. Louis Southwestern Railway.
6,526,087
578,380
10,170,483
1,058,260
8,174,729
265,746
43,633
1,557,963
2,161,210
141,659
3,580,617
224,441
1
i
{Statement for Fiscal Year ending June 30 1912.)
1912-13.
Maint. of way & struc..
Maint. of equipment
327,299
---*
—
Approximate surplus for fiscal year 1912-13----—,
—V. 97, p. 298, 175.
•
V
2.063 cts.
154.7'
$1,184,657)
Preferred stock dividends, 7%
Common
YEAR ENDING JUNE 30.
1911-12.
$
—$21,166,449 $18,211,790 $27,551,003
Eastern, Gallatin Valley, Beilinghara
Springs and Yellowstone Park
Net income of entire system
Estimated charges
.
1590341454
0.487 cts.
1912-13.
1911-12.
9,562
9,569
9,592
$79,492,361 $79,255,355 $94,084,055
55,343,848
57,255,184 62,883,968
—
Gross earnings...
Balance
INCOME ACCOUNT FOR
1907, in road, $5,123,942; In
Appropriated surplus in 1913 includes additions to property since
Equipment—
—
544,291
Includes investment in road June 30 1907, $23,678,369, and in equip¬
Bay and White Sulphur
(combined gross earnings
OPERATIONS AND FISCAL RESULTS.
—
282,747
Chicago" Milwaukee & St. Paul Ry.
are given
length on subsequent pages.
The figures of earnings, expenses, balance sheet, &c., have
been compiled for several years as follows:
<
,
47,344.022
•'
25,315,000
cl,114,000
79,809
886,350
90,549
equipment, $6,327,112; less reserve for accrued depreciation on road,
$50,108; on equipment, $1,644,438, and on shop machinery, $32,281.
b Other investments include in 1913, $179,008 Ontario Car Ferry Co.
stock (pledged), par $249,700; various stocks aggregating $182,607 (par
$345,200), unpledged, and various bonds aggregating $295,000 at par.
c Buffalo Rochester & Pittsburgh Ry. consolidated mortgage bonds.
The remarks of President William T. Noonan
Tons of coke carried..
10,500,000
6,000,000
49,496,245
...
ment, $10,893,995; investment since June 30
at
cars
47,344,022
51,811,844
dl,510,296
Net income-Net earnings of Tacoma
{Report for Fiscal Year ending June 30 1913,)
Service
534,537
63,845
4,199,713
Appropriated surplus
Total
....
375,628
363,766
1,061,500
3,621,999
.....
Taxes....
Passenger cars
Freight cars.
890,356
24,567,000
c912,000
109,871
586,738
109,919
338,163
413,613
686,500
3,120,218
88,658
895,650
105,572
283,584
840,370
.
Locomotives
10,500,000
6,000,000
<5
40,963,335
238,708
2,313,090
c912,000
42,471
646,286
{Preliminary Statement for Fiscal Year ending June 30 1913.)
Property & plant.23,700,498 22,130,799 Capital stock
Securities ownedl
200,000
200,000 Funded debt.
mining
49,496,245
Deferred credit items
$15,998
$3,393,443
$4,864,200
1912.
$
Sink. Id. with trus.
1911.
10,500,000
6,000,000
26,070,000
cl,318,000
—
Interest, dividends, taxes, &c., accr.
CONDENSED GENERAL BALANCE SHEET JUNE 30.
1913.
1912.
June 30 1907 through income, $1,425,919, and reserves from income or
surplus for equipment, $84,377.—V. 95, p. 1402.
2,528,880
/L$S6ts~~—
2,974,466
419,677
30.
51,811,844
Traffic
d
to
Total
3,119,867
495,208
JUNE
*
Bonds in treasury
ctfs. of indebt.
accrued
prior
June 30 1911
SHEET
"Ry.
Total
$3,409,440
$4,906,287
2,566,240
Appr'ns for insur. fundMiscell. adjustments.
368,922
289,852
18,307
1,168,121
21,568
12,696
125,000
190,000
360,000
'
,
1,407,917
Deduct—
Deprec'n
3,147,395
506,330
Total.
Common
1909-10.
$
!§
$
—a44,296,591 a42,485,876
6657,607
238,708
1,620,009
2,182,598
cl,318,000
cl,114,000
148,917
61,048
822,868
743,984
1,072,842
935,940
524,499
451,342
715,102
469,997
10
212,672
535,554
467,764
99,846
132,316
''
equipment
investments
Other
a
Total
21,798
10,069
125,000
246,500
360,000
BALANCE
Profit and loss...
1909 to
1
1,209,814
419
1913.
Assets—
Road and
1909-10.
1910-11.
1,207,895
4,564
125,000
250,000
360,000
3,390,007
686,701
GENERAL
Other working liabilities.-..
1911-12.
1912-13.
1910-11.
$
373,500
284,176
16,510
xctii.
stk__(6%)63Q,OOq(5%)525,000(4H)472,500(4%)420,000
deductions
Balance, surplus.
reduced by $292,500, and now amount to
PROFIT AND LOSS ACCOUNT FOR YEARS ENDING JUNE 30.
1911-12.
$
373,500
284,279
16,738
1,497
125,796
323,000
360,000
Approp. for pension fund
New equipment.
Retirem't of equip, bds.
Divs. on pref. stk. (6%)
Advances
countants,
have been revised on this basis, as more
373,500
302,990
17,314
3,255,910
__
was
Contracts.—Complying with the decision of the U. S. Supreme
1912-13.
$
Rents—joint facilities..
Rents—miscellaneous
V.-Pres., F. M. Chase, Phila., Aug. 5, wrote in subst.:
pending negotiations for
[Vol.
—V. 96, p. 1773.
1,452,000
919,668
11,991,104
4,699,974
11,214,026
3,999,712
10,531,673
3,321,572
A.TJG. 9
THE
1913.J
Missouri Kansas
( Preliminary Report for Fiscal
1912-13.
Average miles
Operating revenue
Operating expenses
Net oper. revenue—.
Total net revenue
Taxes
Operating income
income
Gross income
Interest and rentals
Pref. dividends, 4%
1911-12.
Brooklyn Rapid Transit Co.
1910-11.
$6,980,870
35,326
$8,458,778
6,604
$7,373,297
11,771
$9,482,221
1,287,903
$6,945,544
1,060,181
$8,452,174
1,005,649
$7,361,526
1,012,918
$8,194,317
666,611
$5,885,363
356,396
$7,446,525
$6,348,608
309,642
$8,860,928
6,543,943
520,000
$6,241,759
6,224,590
$7,878,218
431,693
6,104,512
520,000
520,000
$6,658,250
5,616,787
520,000
Balance, sur. or def_sur$ 1,796,985 def$502,832sr.$1,253,706 sur$521,463
—V. 97. p. 237.
.
.
Pres. H. G.
Dec. 31
Hetzler, Chicago, June 3, wrote in substance:
616,667); Consol. M. 4% bonds, increased $1,590,000 (to $40,624,000);
three-year 5% mtge. notes, issued under "First & Ref." M. (V. 96, p. 201),
$10,000,000: real est. mtges. decreased $355,834, to $157,750. Of theauth.
Cons. M. 4% bonds ($50,000,000) there were held 'in reserve Dec. 31 to retire
Gen. M. bonds $6,616,666, and there were $4,066,333 available for further
additions and betterments, namely $1,307,000 in treasury (of the $40,624,000 described as outstanding) and $2,759,333 unissued.
Of the proceeds of the $10,000,000 3-year 5% mortgage notes sold Oct. 2
1912 (V. 96, p. 201), $5,085,517 has been expended as follows: Purchase
of Chicago Union Transfer Ry., $4,400,000: real estate for yard east of
right-of-way Pullman June, to South Deering, $623,422; additions and
betterments of the Belt Ry. Co., $62,095.
" >
•
First and Refunding Mortgage.—On Sept. 28 1912 this company recorded
its new trust deed to Bankers' Trust Co. of N. Y., as trustee, to secure
$200,000,000 of 50-year "First and Refunding Mtge." gold bonds, interest
rate to be fixed at time of issue, not to exceed 5% per annum.
Interest
payable M. & S.
Principal due Sept. 1 1962.
Par $1,000 c*&r, and, if
the directors so
vote, full registered
bonds, multiples
of $1,000; also
foreign bonds at the election of the company, with prin. and int. payable
respectively in London and Paris, (a) £20,£100 or £200; (6)
500 francs,
Below
we
length
give the usual comparative
several years.
tables for
RESULTS FOR
YEARS ENDING
1912-13.
JUNE
1911-12.
30.
,
1910-11.
1909-10.
Passengers carried
626,304.156 M6.555,794 571,881,446 569,438,773
Revenue mileage.--.— 82,217,451
81,604,127
79,619,83!,' 77,984,651
Earns, per revenue mile^
28.5 cts.
» 27.6cts.
26.8 cts.
26.3 cts.
$
Receipts—
Transportation
—
Total
$
$
23,865.260
22,949,021
21,716,486
287,028
277,529
270,057
$
20,746,876
232,639
24,152,288
23,226,550
21,986,543
20,979,515
1,678,124
2,202,208
1,421,123
4,062,796
1,572,661
605,092
217,211
61.933
746,871
264,324
1,112
1,636.713
2,155.134
1,404,160
3,863,700
1,586,974
681,441
231,975
65,195
733,294
252,762
12,833,456
11,318,832
339,947
Miscellaneous
•
Operating expenses—
Maint. of way & struc—
Maint. of equipment—
1,384.581
2,070,814
1,498,712
3,451,414
1,543,049
656.502
198,906
711
1,423,108
2,125,580
1,339,552
3,714,683
1,584,180
750,854
232,616
60,115
707,369
227,004
1,306.
12,612,059
10,614,491
317,991
12,166,367
9,820,176
297,524
11,737,111
9,242,404
278,814
11,658,779
10,932,482
10,117,700
9,521,218
1,750,083
5,411,768
1,775,041
5,446,219
1,454,213
5,455,410
108,560
1,906,286
(4X%>
8,924,469
596,749
wages
Operation of cars—misc.
Damages paid
Damages, legal expenses
General law expenses-
General
expenses
Freight & mail expenses
Am. Ry. Traf. Co. exp.
Total
Net
revenue
—
income
Other
Total income—
66,130
689,522
174,289
3,192
Deductions—
Taxes
-
Interest and rentals
(net)
2,440,770
(5M%)
2,239,851
(5%)
1,465,535
5,503,686
88,535
2,242,690
(5%)
9,602,622
2,056,157
9,461,111
1,471,371
9,300,446
817,254
Betterments.-
—
Dividends
Rate of dividend-!
Total
deductions—
Balance, surplus
-
.
BALANCE
SHEET JUNE 30.
'
.
Purposes for Which the First and Refunding Bonds May Be Used.
Refund a like amount of 3-year notes (issued under the mtge.)—$10,000,000
Refund Consolidated Mtge. bonds of 1902
50,000,000
Reserved for additions and improvements to present property,
with proviso that $50,000,000 bonds, less so much of the pro¬
ceeds of the $10,000,000 short-term notes as shall have been
spent upon the property, shall be issued in connection with ad¬
ditions and improvements to the Belt Railway———
^140,000,000
Lease and Purchase of
subsequent pages.
Trainmen's
1912.)
Funded
Debt. — The
amount
outstanding
was
increased
$10,811,166, viz.: General M. 6s, decreased by sinking fund $423,000 (to $6,-
2,500 francs or 5.000 francs.
The remarks of President Williams will be found at
on
Operation of power plant
Chicago & Western Indiana RR.
Year ending
(iReport for Fiscal Year ending June 30 1913.)
1909-10.
$9,537,846
55,625
(Report for Fiscal
361
Texas Ry.
Year ending June 30 1913.)
3,677
3,399
3,377
3,072
$32,346,258 $28,186,719 $29,065,293 $26,559,346
22,808,412
21,205,849
20,606,516
19,186,049
Outside oper., debit
Other
&
CHRONICLE
Chicago Union Transfer Ry. Property at Clearing, III.
—On Aug. 9 1912 the
property of the Chicago
taken over by the Chicago & Western Indiana
Union Transfer Ry. Co.
Assets—
Road &
1912.
$
$
6600,000
6600,000
11,440,521J
11,303,225
4,153,945
1,079,872
881,151
3,904,920
860,764
1,164,919
RR——
City
Deposit to guar.
Brooklyn City
lease
was
Mat'ls & suppl's
Acc'ts receiv'le.
Cap.
exp.
lines...
Investments
4,267,379
165,166
2,118,305
Cash..
Cash
constr.
$
49,013,218
44,837,218
824,009
816,609
84,362,54a
cos.not owned
Real est. mtges
448,500
Bills payable
c2,750,000
Acc'ts payable. d3,302,990
Taxes accrued
1,636,882
Bond int. accr'd
615,383
Int.&rents accr.
Insurance res've
acc't
subway & rap.
tran.
B. R. T. stock.
Funded debt...120,434,540
leased
to
companies.—
1912.
$
Stock of constit.
Bonds Brooklyn
Adv.
1913.
Liabilities—
equlp.al27,472,652al26,280,147
under lease, and on Oct. 2
a deed of purchase dated Sept. 30 was filed of record.
The Ch, Un. Trans¬
fer Co. conveyed the property to the Bankers Trust Co., as trustee, to
make the First and Refunding Mtge. a first lien thereon, and on the same
date the property
subject to such first lien was conveyed to theChicago
& Western Indiana RR. Co., which operated the same until Nov. 1' 1912,
when the property was leased to the Belt Ry. Co. of Chicago.
The cost
of the property, $4,400,000, has been paid from the proceeds of the $10,000,000 of 3-year notes.
(V. 94. p. 910: V. 95, p. 419: V. 96 p. 201.)
New Lease to Belt Railway Co. of Chicago.—On Nov. 1 1912 a new lease
was entered into with the Belt Ry
Co. of Chicago, leasing to that company
our Belt Division, extending from Cragin to South Chicago, together with
the railroad, clearing yard, &c., of the Chicago Union Transfer Co., includ¬
ing a tract of land about 1,200 ft. in width and 2 miles long between Pull¬
man Junction and South Deering, upon which there is to be constructed
a classification and clearing yard for tne'use of the Belt Co. (V. 95,p.
1471).
The rights of the Belt Railway Co. over Western Indiana
property are
now derived entirely from this lease, provision being made therem, in ac¬
cordance with the First
and
Refunding Mtge., for the termination of
all
rights under prior existing leases with the Chicago &
Western
Indiana RR. Co,
The new lease expires Sept. 1 1962, co-incident with the
maturity of the First and Ref. M. geld bonds.
The Belt Company has
the option, at the expiration of the term—provided that the three mort¬
gages of the Western Indiana, to-wit: the Gen. M., Cons. M. and the First
and Ref. M., shall at that date have been discharged—to acquire upon one
year's notice the Belt Railway, with all additions, alterations and improve¬
ments, for a certain fixed sum plus the principal sums of all obligations of
the Western Indiana then outstanding the proceeds of which shall have been
used for the acquisition of the property and franchises of the Chicago
Union Transfer Co., and for other additions, improvements and extensions
made after May 11 1911 to the Belt Ry. at its request or approval, and for
the exclusive use of the Belt Co., its sub-lessees or assigns.
The rental to be paid by the Belt Company is $828,000 per annum, to
which is to be added the annual interest on the Consol. Mtge. bonds issued
subsequent to May 11 1911, the proceeds of which have been used for
.
1913.
Accr'd
amort .of
cap.
171,166
fund
& sink'g
accr'd..
1,742,686
Special
reserve.
&
Surplus
•
,
..
154,500
c4,150,000
d2,073,580
1,693,802
615,696
32,879
472,119
42,319
361,900
884,719
654,145
1.000.00U
e5.863,813
957,967
7,904,607
equip, subway
35,483,220
420,691
1,000,000
Prepaid acc'ts..
194,911
&c., lines....
Insurance res've
310,472
City of N. Y.__
Total
287*,823
...189,277,813 146,626,122
Includes
Total
...189,277,813 146,626,122
construction
expenditure constituent companies, not yqt
funded, $927,669 in 1913, against $441,977 in 1912.
b These are deposited with trustee of B. R. T. Co. Refunding 4% bonds.
c These are secured by deposit of B. R. T. Co. Refunding bonds.
d Includes dividend payable July 1.
e After adding profit from real estate disposed of and other miscell. items,
$20,037, and deducting $1,000,000 for special reserve and $54,990 for ad¬
a
justments, &c.
In addition to the above securities, there is held in the treasury or pledged
as collateral $57,111,500 bonds of the B. R. T. and constituent cos., includ¬
ing $1,046,000 B. R. T. 4s owned by Nassau Elec. RR., $3,112,000 B. R. T4s and $5,000 5s in treasury; B. R. T. 4s as collateral, $12,861,000, and $15,000 with City of N. Y.; $40,000,000 N. Y. Mun. Ry. Corp. 5s and $72,500
miscellaneous; also $64,782 B. R. T. stock in treasury and $1,863,000
bonds deposited with trustees of mortgages, including $700,000 1st ref. 4s,
$1,161,000 Nassau Elec. cons. 5s and $2,000 miscellaneous.—V. 97, p297, 175.
Montreal
Tramways Co.
improvements and additions to the Belt Ry.; and the annual interest
on all
obligations of the Western Indiana Co., the proceeds whereof shall have
been used during the lease for improvements, additions, etc., to Belt Ry.
The obligations of prior leases to pay certain charges under our General
and Consolidated mortgages are taken care of in the new lease by provisions
that so long as the bonds issued under said mortgages shall be outstanding,
the monthly rentals provided for
in the prior leases shall be paid directly
to the trustees of said bond issues.
All rentals, after deducting the rentals
to the trustees of the General and Consol. mortgages, are to be
reserved
paid to the trustee under the First and Refunding Mortgage.
CHICAGO &
WESTERN INDIANA RR.^(REVENUE
Revenue—
Rentals lease of road
Other rentals.^
1912.
a.__
Suburban passenger earnings
Miscellaneous
$2,249,030
186,357
122,534
16,815
19,520
$2,193,799
173,236
113,453
11,138
36,525
$2,686,111
$2,594,256
$2,528,152
$2,037,856
197,837
153,716
60,955
300,000
$1,946,439
$1,897,423
134,209
139,769
22,663
300,000
$2,750,364
$2,577,800
$2,494,064
sur.$16,456 sur.$34,088
132,965
19,013
earnings
Discount, interest and exchange
Total
7,130
>
Expenses—
Interest
charges
Taxes
Oper. expenses (sub. pass, service)-Miscellaneous
Dividends
(6%)
Total"i
Balance for
„
year
145,491
148,110
37,760
300,000
def.$64,253
BALANCE SHEET DEC. 31.
1912.
A oo/i/o
e
,
1911.
1912.
1911.
$
S
o
Liabilities—
Road
...54,294,766 48,739,634
Equipment
(.
1,674,684
1,679,999
Acc'ts receivable. 1,509,092
1,353,321
Cash, including for
coupons
1,294,171
1,362,853
5,000,000
5,000,000
Bonds.
47,240,667 46,073,667
3-year M. notes.. 10,000,000
Cash
Vouchers and
with
mort¬
gage trustee *—
4,776,223
Material
525,290
Marketable bonds
15,730
o
Consol.
M.
in treasury.
Total
428*681
15,730
157,750
513,584
accounts..
780,060
Int. due & accr'd.
Def'd credit items
990,730
822,267
818,638
57,164
474,601
Surplus
1,307,000
237,557
;•
Contingent Account.—We have appropriated from surplus $200,000 for
contingent account in addition to $300,000 appropriated from earnings,
making a credit to this account during the year of $500,000 and a total
leaving a balance of $184,756.
Capital Charges, cfee.—There has been expended on capital acct. $976,008.
The property has been maintained and there has also been expended on
extraordinary renewals of track and rolling stock $442,892.
Financial.—During the year the company has issued $2,890,000 of it»
5% 30-year 1st & ref. MT. gold bonds at a satisfactory figure [making.
$13,335,000 outstanding, as also shown in balance sheet of June 30 1913].
From the sale of these bonds there remains at our credit $1,637,955, avail¬
able for extensions and improvements [V. 96, p. 790; V. 95, p. 1608).
Acting on authority of the shareholders, we have issued also 9,993 shares
com. stock which have been allotted to shareholders at par
[V. 96, p. 1022.1
The bonds, debentures and com. stock have been listed on the Montreal
Stock Exchange and application has also been made to have the bondslisted on the London and New York stock exchanges.
Dividends.—During the year an interim dividend of 5% was paid and a
dividend of 2H % was declared for the quarter ended June 30 last, payableon Aug.
1 next.
Franchises, &c.—The following exclusive franchises have been granted to
the company: Parish of St. Laurent, 25 years; Town of Mount
Royal, 25
years;
Town of Pointe aux Trembles, 40 years; Town of Montreal East,
40 years.
Your directors have also during the year come to an under¬
standing with the City of Montreal, which it is hoped will tend to relievethe congestion due to the great growth of the city.
Wages.—These have been increased during the year.
1,000,000
Real estate mtges.
rent
bonds
Del'd debit items.
Stock
Loans & bills pay.
President E. A. Robert says in substance:
Results.—The figures of the last statement (1911-12) covered a period of
nine months only, but your directors are pleased to state that the increase in.
gross earnings and the ratio of oper. expenses to earnings are satisfactory.
credit to this account of $627,648, against which has been charged $442,892,
1910.
1911.
$2,350,447
176,556
*
ETC.).
{Report for Fiscal Year ending June 30 1913-)
RESULTS FOR FISCAL
cur¬
54,958
410,348
140,000
39,703
Year
1912-13.
Gross
PERIODS ENDING
..65,634,513 53,759,9211
1911-12
$73,000
$50,85(
Operating expenses 4,032,664
Net earnings
Total...
65,634,513 53,759,921
9 Mos.
1912-13.
earnings ...$6,754,227 $4,355,403
2,618,943
Dividends, 7>$%.
Propor'n
Cash in hands of trustee for expenditures named
in 1st and Ref. M.—
V. 96, p. 1364.
•
,
.
Year
1911-12.
.-.$2,721,563 $1,736,460
Deduct—
—
*
JUNE 30.
9 Mos.
156,382
discount
bonds sold-----
63,714
200,000
Contingent acct—
'
$279,030
449,514
Capital reserve.—
23,670
Int. on bds.& loans
$489,080
721,151
Int. on deb. stock-
800,000
600,000
Balance, surplus
$194,565
City percentage.-
150,001
$207,06i
THE
362
CHRONICLE
REVENUE
BALANCE SHEET JUNE 30.
1913.
1912.
$
8
Assets—
Stores
741,427
484,734
81,690
686,405
Bond discount
Cash in bank, Ac.
do dep. in Har.
Accrued interest.
Acer, tax
58,163
on earns.
TTnred'm'd tickets
Suspense account.
Dividend Aug. 1..
underlying
Secur's red. Id.
1,147,000 Capital
622,328
395,000
Investments.....
AND
Revenue—
EXPENSES
FOR
1911.
1912.
Exchange service
Toll service
Divs. and int
Miscellaneous...
.
.
.
reserve...
.
495,000 Contingent acct..
.
Miscellaneous.
.
..
Surplus..
.
308,894
1913.
Assets—
23,199
207,066
ToU lines..
estate......
...38,010,742 35,102,061
Total
Included in "bonds and mortgages" in 1913 are
—V. 96, p. 1840.
...38,010,742 35,102,061
f13,335 1st & ref. M. 5s.
Exchanges.,
Liabilities—
14,854,908
.5,814,100
1,507,900
729,880
842,045
796,034
26,422,936
Constr'n in proc.
Stocks and bonds. 1,796,935
Bills A accts. ree'le « 767,579
Cash............
567,471
The report for the
late
OPERATIONS FOR
Reserve for dep'n.
Accrued liabilities. i
!•
Bills payable
Profit and loss....
.
1911-12.
$5,589,768
$1,282,356
1909-10.
$6,613,922
$1,277,253
$3,488,829
$5,336,669
1910-11.
and cash discount on
518,811
Total
deductions—.
-
729,960
$3,577,452
'
$590,000
510,898
1,560,000
(3)839,532
$592,500
387,548
601,559
1,440,000
1,440,000
(3)839,532 (5)1,399,220
$577,500
$2,844,006
$3,500,430
$3,458,591
$147,096
$77,022
$30,238
Balance, surplus
$3,819,268
$1,517,401
CONSOLIDATED BALANCE SHEET MAY 31.
Asset*—
.':V
1913.
Real estate, plants, &c._$43,802,"772
Other investments
6,939*676
1912.
.
$43,037,884 $42,379,819 $41,577,756
3,876,204
6,085,210
4,565,054
5,052,670
4,258,362
Mfd.prod.,mat.Asupplies
8,315,429
9,921,310
7,590,040
Accts. & bills recefvablea;17;695,404 214,531,384
Int. ,ins.,Ac. .paid in adv.
684,402
626,958
214,602,820
63,300
39,907
13,939
*30,000
*30,000
*30,000
Total ...i..........$81,407,188
1910.
1911.
Cash
Miscel. investments
Insur. fund investment.
495", 600
553,397
175,000
3,477,253
519,690
.
.
.
701,875
Total.........32,864,889 27,648,843
United States
594,535
4,840,863
3,047,171
8,391,649
213,722,377
433,447
15,887
*30,000
Gypsum Co., Chicago.
(Report for Fiscal Year ending Dec. 31 1912.)
Pres. S. L.
$4,773,976
$1,285,147
Bes've for doubtful debts
unsettled accounts...
650,349
Div. Jan. 15 1912.
Accounts payable.
.........32,864,889 27,646,843
-V. 96, p. 557.
YEARS ENDING MAY 31.
BaL.net prof.(see above) $2,991,102
Less Interest, Divs., &c.—
Interest on bonds
$697,500
Interest and discount
546,506
Preferred stock div (8%)
1,600,000
Common stock div—...
1,363,082
3,147,879
208,018
356,375
262,600
1,182,713
shows the consolidated state¬
year
.
$
Stock subscrlp'ns.
Total
ment of earnings and surplus account, including the Southern
Cotton Oil and other sub. cos.except Einigkeit (Potash) Co.
1912-13.
Total net profits
$4,934,221
Repairs A maintenance. $1,424,308
1912*
,
.26,994,200 20,364,300
1,337,405 Emp'yees* ben. Id
Virginia-Carolina Chemical Co.
$844,695
$
Stock
Repl. reserves....
(Report for Year ending May 31 1913.)
$926,037
1.
1913.
'.$
1,764,499
2,255,163
Supplies, tools, Ac. 1,054,806
Total
JAN.
1912.
$
Real
31.
1911.
deduc,ns.$5,918,539 $5,025,456
Balance, surplus..
BALANCE SHEET
576,330
127,648
DEC.
1912.
4,936
..$6,844,576 $5,870,152
...
ENDING
Deduct—
Total
Total
241,125
292,992
119,348
230,760
371,070
139,741
179,153
56,697
600,000
184,756
25,942
401,631
.
YEARS
xcvii.
$4,327,376 Opera'n,taxes,Ac_$3,292,042 $3,074,385
1,460,127 Maintenance..... 1,039,163
$6,844,576
928,473
77,713 Dividends (7%).. 1,587,334
1,022,598
.
Tr.ASav.Bk 1,637,955
do
$
32,143,281
976,008
312,814
Accts. receivable..
1912.
$
Common stock... *2,181,210
2,000,700
Debenture stock.. .16,000,000 16,000,000
107,074 Bonds A mtges... .17,267,150 14,871,863
332,896
360,632
410,116 Accounts A wages.
Road A equlpm't.32,913,809
New construction.
1913.
Liabilities-
[Vol.
Avery, Chicago, April 4, wrote in substance:
Results.—The total tonnage, while the largest in our history, has been sold
on a declining market throughout the year.
Notwithstanding these un¬
satisfactory competitive conditions, our net earnings, after deducting re¬
serves for depredation and contingencies, are
$430,414. or 954 % on pref.
stock.
This is an increase of $71,045, or 19% %, entirely accomplished by
reduction in expenses, being substantial evidence of the wisdom of liberal
expenditures for the most modern construction,
Debentures.—In May 1912 the company issued and sold $1,500,000 6%
5-year gold debenture notes, for the purpose of reducing bank loans, pro¬
viding for the retirement of all outstanding 5% bonds (due Sept. 1 1922),
and to supply funds for needed new construction.
(V, 94, p. 703).
*
Additions:—The additions include: A new and modern mill and mine at
Plasterco., Va., replacing
a very
old property, and the purchase of
mill
a
and gypsum deposit at Southard, Okla.
The latter mill is well built and,
when improvements are completed, will be able to produce excellent ma¬
terial at a low cost.
A large deposit of gypsum of fme quality lies imme¬
diately under and adjacent to the mill, and can be delivered therein at a
minimum expense.
At Oakfield, N. Y.t we are completing the largest and
probably the best plaster mill in the world, capacity 1,000 to 1,500 tons
daily. - Adjacent to it has been erected a modern plaster board plant.
INCOME
ACCOUNT
SHOWN
AS
1912.
Net
profits.—
BY, SUCCESSIVE REPORTS.
1911.
$651418
$437,783
$50,000
$167*285
$174",914
77,312
32,552
$50,000
148,414
29,028
$430,414
226,914
$359,369
224,511
$423,675
219,734
$215,328
225,784
Transferred to bd. res've
Repairs, replace., Ac
Bond interest, Ac
1909.
1910.
$566,835
$675,011
150,870
21,585
$78,837,707 $74,522,185 $72,059,150
Net earnings
Capital stock, preferred.$20,000,000 $20,000,000 $18,000,000 $18,000,000
27,984,400
27,984,400
27,984,400
Capital stock, common. 27,984,400
IstM. 15-yr. 5% bonds. 13,800,000
11,400,000
11,700,000
14,100,000
Bills payable
5,519,978
2,953,800
6,178,478
10,022,751
Accounts payable
1,108.046
1,109,204
1,151,444
1,053,033
Drafts against consign'ts
142,899
127,572
347,610
7,886
Reserves
314,563
325,758
304,323
205,177
9,451,915
9,350,401
9,879.851
Surplus
y8,333,941
Preferred dividends.
sur.$203,500sur .$134,858 sur.$203,941 def.$10,456
391,753
986,268
867,244
361,760
Balance for year
Prev.
after adjust's.
8ur.
-
_
Total surplus...—..
$1,189,768
$381,297
$565,701
$1,002,102
-
BALANCE SHEET DECEMBER 31.
*
2
$74,522,185 $72,059,150
$
Assets—
,
Plants..
Investments in first mortgage 5% 15-year bonds at par.
After deducting bills discounted in the ordinary course of business,
$4,125,047 in 1913 (against $4,017,779 in 1912, $6,075,809 in 1911, $4,689,818 in 1910), and reserves for doubtful debts and rebate of interest (also
cash discount allowable on accounts receivable), $1,138,726, against $1,293,261, $818,358 and $574,366.
y After deducting excess over reserve of cash discounts allowed during
the year in respect of previous year's business, $368,308, and difference be¬
tween book and sales value of capital assets of the Southern Cotton Oil Co.
sold or dismantled during the year, $57,230.—V. 96, p. 1845.
"
2,601,835
Pref. stk., 7% cum 4,417,800
Common stock... 2,249,600
5,088,370
5,088,370
27,000
44,983
Bonds
Gypsum A gypslte
(estimated).
.
27,000
44,967
Stock in other cos.
Secured loan
Notes with trustee
to retire bonds..
Expenses
Coal in ground
Lumber stump age
Paint Creek Coll. Co. stk.
Merchandise,
lumber in
yard, Ac..
Saw-mill, railroad, &c._
—
Cash and securities
Accts. and notes receiv..
270,412
Paint Creek Collieries Co. stock, $2,250,Total each side, $29,569,253.
000 above, includes, common, $1,000,000; pref., $1,250,000.
See also
V. 95, p. 52.
94,578
558,619
429,750
790,243
85,987
66,666
527,434
..10,550,765
9,186,335
to future income
Inventories
Due on notes
Cash
Common stock
out......$5,000,000
Preferred stock out..
1,250,000
Investments
31,000 Bonds (V. 94, p. 54).
2,913,000
Mdse. and supplies32,046 Accounts payable
79,937
Accounts, receivable, Ac.
73,459 Notes payable
15,771
Bond reserve
:
4,316 Bond int. accrued
61,712
Profit and loss deficit.... ; 470,061
(Total $9,320,420)
>
..
See
Capital stock authorized: Common, $5,000,000; pref., $5,000,000.
Lackawanna Coal A Land Co. above and V. 95, p. 52; also see V. 95, p. 54;
V. 96, p. 1559.
V
.....
Toil serv—pay
sta'ns.
•
Telegraph Co., Denver.
System.—On Dec. 31 we had 370 exchanges, furnishing service to 184,668
exchange stations, including 1,293 toll stations, while in addition there were
18,390 stations connected with our system on the lines of connecting com¬
panies, making a total of 203,058 subscribers' stations in service on Dec. 31
1912, an increase of 30,255 during the year, or a total increase of 40,123
stations, or almost 25%, since the merger of July 31 1911.
The total miles
of exchange and toll lines as of Dec. 31 1912 were 506,619, an increase of
105,832 miles for the year. Total miles of exchange and toll wire under¬
ground on Dec. 31 1912 was 180,929. Total miles of toll lines on the same
date was 71,516.
Capital Stock.—On Dec. 31 1912 there was outstanding $26,994,200 in
stock, representing an increase of $6,629,900, of which $4,298,700 was issued
in December 1912, with dividend accruing from Jan. 1 1913.
Additions.—Our real estate holdings show anl increase during 1912 nearly
$500,000; our telephone plant, practically $4,250,000; our supplies, furni¬
ture and tools, more than $350,000, and our stocks.and bonds m connecting
companies, from which w;e derive business, almost $1,000,000.
COMBINED STATISTICS (Tri-State T. & T. Co. inch only in 1910& 1911).
Dec. 311912
324
—
-
290
236
102
Number of ^Exchange Toll Wire, TotMiles
Wire.
Subscribers. Wire, Miles.
MileS.
506,619
184,668
71,516
435,103
161,000
64,097
400,787
336,690
141,114
77,962
15,838
9,186,335
Total..
Rentals—elec.
bidg__
273,922
110,861
21,925
59,220
34,467
14,231
333,142
145,329
36,156
75,120
4,242
..$930,759 $917,078
Expenses—
Service
-----
Taxes
Electrlcbuiiding
,
152,111
Total.
$657,199
Total net income...-. 273,560
$640,187
276,891
Int. on mtge. bonds..$135,400 $135,400
Int. on coll. tr. notes.
16,589
23,760
Disc, on coll. tr. notes
2,772
3,960
86,241
86,241
$136,267 $122,163 Pref. div. (6%)—.
144,821
142,687
Total
.$241,002 $249,361
62,455
57,468
48,740
46,200 Surplus...
.
.
'
$
5,597
154,471
10,459
$
1,437,350
1,352 Bonds (outstand'g).2,708,000
164,794 Coll. trust notes.... 237,100
11,878 Current liabilities.._
116,100
Miscellaneous
112,295
Surplus
81,467
6,192,313 6,217,5071
Total
$
•
COmnion stock.....1,500,000
Preferred stock
.
1911.
1912.
Liabilities—
$
plant.6 ,021,786 6,039,483
Current assets.:
$32,558 $27,530
.....j.
31.
"
1911.
1912.
Assets—
Engineer's estimates
—uncompleted...
3,500
-
149,712
BALANCE SHEET DEC.
Property and
10,000
Depreciation
,
....
—
Maintenance—
1912.
1911.
$105,204 $116,056
Expenses (concl.)—
General exp., Ac
Reserves
59,191
65,062
75*850
3,941
(Report of System for Fiscal Year ending Dec. 31 1912.)
Dec. 311911..
Dec. 311910
Dec, 311905
Dec. 311900
..10,550,765
84,359
Earnings—
1912.
1911.
Rentals—telephone ..$766,759 $760,006
dist_.
12,462
11,876
Toil serv—suburban..
6,685
6,643
Pres. E. B. Field, Denver, Feb. 11, wrote in substance:
of
Exchanges.
376
457,629
1,002,102
745*688
Toll serv-Hkmg
Deferred assets
Number
517,935
1,189,769
fund, repairs, re¬
placements, Ac.
Undivided profits.
Cuyahoga Telephone Co.
.
Mountain States Telephone &
188,103
(Report for Fiscal Year ending Dec. 31 1912.)
Gross income
(Balance Sheet June 1 1Q13.)
;
224,944
31,717
payable.
int.,taxes,Ao
Reserved for sink,
Miscellaneous.
Paint Creek Collieries Co.
Plants, mines and equip..$7,459,538
Cresent C. & L. Co 1,250,000
574*500
Accounts
$9,335,850
600,000 Notes payable and liens
not yet due..
657,367
2,250,000
Accounts payable
77,787
140,023 Accrued interest.
127,444
293,884 Capital stock
$12,000,000
197,964 Surplus
i___.
7,370,803
Bonds,
5-yr. 6% gold note 1,500,000
Bills payable
133,500
-V. 96, p. 950.
Bonds
..$25,816,970
285,500
4,302,900
2,249,600
411,500
Acer,
303,000
charged
Total
(Balance Sheet June 1 1913.)
v
$
$
3,128,250
Notes A accts. ree.
Lackawanna Coal & Lumber Co. (of W. Va.)y Scrahton.
Liabilities——;
$
'
1911.
1912.
1911.
1912.
Total ..-...-....-.$81,407,188 $78,837,707
'
1,500,000
1,437,350
2,708,000
356,400
103,001
67,332
45,424
.6,192,313 6.217.507
Total
-V. 96, p. 865.
The Alliance
Realty Co.
(Balance Sheet of June 30 1913.)
1913.
1912.
$
real est..*277,322
Bonds and mortgages 467,750
1913.
Liabilities—
$
.A ssets—
1912.
$
$
415,939 Capital stock paid in.2,000,000 2,000,000
650
10,057
391,750 Accrued int. payable.
50,000
50,000
Stocks and bonds...2,158,277 2,246,387 Suspense account
80,000
160,000
Bills receivable
129,800
70,800 Reserve for dividends
Accd. franchise tax.
8,000
Sundry account
2,667
......
Cash..
267,358
105,867 Sur. A undiv. profits.1,202,150 1,041,041
Accrd. int. A divds..
29,625
38,354
Furniture and fixtures
1
1
N. Y. City
—...3,332,800 3,269,098
Total
*
Less
Total.—
mortgages thereon, $247,240.! "
-
3,332,800 3,269.098
:
J
1'
Dividends Paid.
1902.'03. *04. '05.
Regular——
Extra
—V. 95, p.
6% 6%. 6% 6%
—
819.
--
—
1906.
1907.
1908.
1909.
1910.
1%%
8%
8%
8%'
8%
6%
—
.
1912.
1911,
8%
,
8%
AUG. 9
1913.]
THE
CHRONICLE
American Iron & Steel Mfg. Co., Lebanon, Pa.
(Report for Fiscal Year ending Dec. 31 1912.)
Pres. James Lord, Lebanon, Pa., Feb. 12 1913, wrote:
Dividends at the rate of 7% annually, and amounting to $388,500, were
paid during the year.
In addition there was added to the value of the real
estate, plants and equipment $83,477, and $50,000 was added to the allow¬
ance for depreciation of plants and
equipment, the total of which now
amounts to $930,000.
.
363
erty and equipment have been added to from the surplus to the extent of
$780,087 (including special fund on deposit for completion of plant No. 3);
paid on principal of bonds redeemed since Oct. 1 1909, $217,797; cashin
sink, fund, $813—$218,610; net increase in working capital since organiza¬
tion, $507,734; total, $1,506,431, which is the aggregate of the surplus
and reserves shown on the balance sheet plus an undisposed credit for intr
erest accretions to fund being used for construction of plant No. 3.—
V. 96. p. 1637.
; ;
Kellogg Switchboard & Supply Co,
,
(Balance Sheet Dec. 311912.)
BALANCE SHEET DECEMBER 31.
Assets—
1912.
1911.
$
$
1912.
i911.
$
$
Liabilities—
BALANCE
♦Plant A equipment.
5,074,139 5,040,662 Pref. 5% cum. stock.3,000,000 3,000,000
1,763,461 1,281,319 Common stock
2,550,000 2,550,000
Cash.
466,476 1,100,389 Undivided profits...2,486,718 2,339,044
Accts. rec. (net)
725,996
461,914
Unexpired insur., Ac.
6,646
4,760
Supplies
1911.
$
$
....8,036,718 7,889,044
Total
■
„
deducting
1912,
Liabilities—
a500,598 a522,044
1,284,643 1,010,748
rec__
944,573
830,318
Pay-roll A taxes
Accts.
& notes
Cash....
Total
32,740
54,804
4,927
4,655
1911.
$
Current assets
I
for depreciation, $930,000 in 1912, against
$880,000 in 1911.
[Regular quarterly dividends of 1H% have been paid
since July 1907 on both classes of stock and also
special dividends of 2%
each in June 1910, 1911 and 1912.
Compare V. 90, p. 1612.—Ed.—
V. 96. p. 996.
1912.
Capital stock
8,036,718 7,889,044
•
♦After
31
Plant, real est., Ac
Insur. prem.unearned
Total
SHEET DEC.
1912.
.A. 3C dS
$
1,000,000 1,000,000
accr.
39,486
31,225
54,502
81,556
Surplus
71,910
175,000
..1,481,085 1,255,286
Total
—...2,767,481 2,422,569
Trade, Ac., accounts
Reserves
2,767,481 2,422,569
reserve
a
After deducting depreciation to date.
As to stock dividend
Ac., see V. 96,
Garland Corporation, Pittsburgh.
p.
of 25%
'
($250,000) paid to holders of record Jan. 28 1913,
289.
INVESTMENT
GENERAL
NEWS.
(.Report of Dec. 31 1912.)
RAILROADS,
COMBINED BALANCE SHEET, INCLUDING CONSTITUENT COB., DEC. 31.
"
•
'
1912.
1911.
$
$
Assets—
Property account._.4,740,529 4,156,776
11,131
107,848
171,301
351,143
Inventories
512,119
669,201
Accounts receivable.
858,608
681,025
Bills receivable
29,128
37,772
Cash
163,726
194,804
Def. charges to oper.
Securities owned
1911.
1912.
Liabilities—
'
$
Capital stock.......2,467,100 2,467,100
Gar. Corp. 30-yr.
Accounts payable
Bills payable
Unclaimed
6s.l,432,000 1,500,000
351,792
286,278
614,507
686,629
304
374
wages
Bond interest due
INCLUDING^
ELECTRIC
ROADS.
Atchison Topeka & Santa Fe Ry.—Purchase to Include
$
Surplus
45,000
42,960
1,505,688 1,285,381
Total
.6,486,542 6,198,570
Railway only, Not Coal Properties.—
See St. Louis Rocky Mtn. & Pacific Co. below.—V. 97, p.
297.
Atlanta Birmingham & Atlantic RR.—Tenders Ashed.
—The Equitable Tr. Co. of N. Y., as successor trustee under
the
joint 2-year 5% gold notes, having at its disposal $54,767
redemption of notes, will receive tenders of the same
up to that amount at less than par until Aug. 19 at 12 m.
—V. 97, p. 116.
for the
Total
6,486,542 6,198,570
—V. 95, p.
42,
Nevada-California Power Co., Denver, Colo.
Baltimore & Ohio RR.—Listed in London.—The London
Stock
(Report for Fiscal Year ending Dec. 31 1912.)
Pres. Delos A.
Chappell, Denver, in March last wrote:
[The compariy has operating headquarters at Riverside, Cal., and power
on Bishop Creek, near
Bishop, Inyo County, Cal.)
earnings increased $103,698, with an increase in expenses
of only $37,886, including an increase of $27,750 in
depreciation, so that
the actual increase in expenses subject to control was, say, $10,136, or
only 10% of the increased gross earnings.
Now that construction work is
approaching completion, the California general expenses should show a sub¬
stations
-
Results.—The
stantial decrease for
1913.
Additions.—Construction of the steel tower transmission line from plant
No. 5 to San Bernardino and the steam auxiliary plant at San Bernardino
is now completed and current is being successfully transmitted to a connec¬
Exchange has listed $47,829,500 of the $63,250,000
20-year 4K% convertible gold bonds (V. 96, p. 134, 200,
651, 715, 1088; V, 97, p. 297.)
Canceled— Mortgages
for $4,000,000 and $10,000,000,
by the Pittsburgh & Connellsville RR., filed Mar. 25
1868 and Jan. 31 1885, respectively, were canceled in Court
at Somerset, Pa., late last month.
Only a few bonds have
lately been outstanding under the mortgages.
Compare
Y. 96, p. 134; V. 95, p. 1744.—V. 97, p. 297, 174.
made
Birmingham
tion with and
over the Nevada transmission lines to
Goldfield, Tonopah
and Manhattan in Nevada.
This marks a new era in the history of long¬
distance electric transmission.
Our
plans originally contemplated the construction of only one 5,000 k.w.
steam unit in San Bernardino but before this plant was
complete the con¬
struction of
a
second unit of the
same
size
was
authorized and is
now
com¬
plete and operating.
The demand for distributing lines has also exceeded
our
original plans and large expenditures have been made on account
thereof, in addition to the funds originally provided.
Southern Sierras Power Co.—This subsidiary (see V. 93, p. 1263; V. 95, p.
55, 180) was organized principally for the purpose and convenience of finan¬
cing the construction, hut it is owned entirely by the Nevada-California
Power Co. or its sub-companies, and it is, in our opinion, probable and de¬
sirable that the two companies should be consolidated in the course of time
for
a
more
efficient and economical
operation.
The Southern Sierras Power Co. acquired
jplant No. 5 of 1,750 k.w. ca¬
pacity, from the Nevada-California Power Co., and the latter is using the
proceeds towards the construction of plant No. 3, of 6,000 k.w. capacity
which, it is anticipated, will be in operation early in May 1913.
The Southern Sierras Power Co. has also constructed
hydro-electric
plant No. 6, of 2,000 k.w. capacity, which is now in operation.
This will
give said company a capacity of 3,750 k.w. from its water-power plants and
8,000 k.w. (normal load) from its steam plant in San Bernardino.
The
earnings of the Southern Sierras Power Coi covered only a small part of
1912, and the profit was approximately $24,000.
The outlook for a large
and profitable business is very satisfactory.
The total cost of the plants, lines and distributing
systems of the South¬
ern Sierras Power Co. has reached a large sum,
provided for partly by ad¬
vances from the Nevada-California Power Co. and
partly by the sale of
$2,500,000 Southern Sierras Power Co. bonds (V. 95, p. 55, 180).
GROSS AND NET EARNINGS FOR
1912.
.
Gross
.
Net (after taxes)
SIX CALENDAR
1910.
1911.
1909.
YEARS.
1908.
1
RESULTS FOR
1912.
CALENDAR
-..$870,544 $766,846
Operating expenses.— $72,493
$71,961
Maintenance
31,047
30,000
42,000
Depreciation . .1
69,750
General exp., Ac......
57,917
47,859
Taxes
19,500
21,000
$250,707 $212,820
.$619,837 $554,025
Add-Earns.from sec.
2,300
6,000
Net Interest charges. .$157,438 $167,323
Rental paid S.'S.P. Co.
41,565
Res've for emergencies
12,000
18,000
Amort, of disct. on bds.
2,350
2,650
Bond sinking fund
81,757
74,302
Profit & loss adjust'ts.
540
Dividends.
.
:
_
.
_
..(4 %)182,660 (2) 91,330
Operating profits
Total net
earnings....$622,137 $560,025
BALANCE
Assets—
1911.
$
$
Property & equip't.8 ,160,589
Special deposit
262,242
Bond sinking fund..
813
Other
stocks,
8,446,211
479
and land scrip
Accts.
58,930
bonds
Cash
207,212
46,507
receivable, Ac.
119,376
Suspense
3,650
Due from assoc. cos.l 013,960
Prep'd in3. A supp..
63,462
31.
Liabilities—
Inter-State Teleg.Co.
in sinking fund
Balance, surplus._.$144,367 $205,879
SHEET DEC.
1912.
198,694
313,492
302,160
3,396
1912.
1911.
$
$
Capital stock
5,000,000 5,000,000
First mtge. 6% bds.2,775,000 2,815,000
Accrued int. & taxes
57,074
71,913
Notes payable
130,000
104,915
Div. scrip, certfs...
273,990
91,330
Other current Habit's
68,735
52,568
Approp'd
for
bond
redemption
237,253
155,496
Depreciation
152,745
163,734
67,299
51,338
1,078,211
933,844
reserve
Misc. reserves, Ac..
Profit and loss
79",272
Issued
l Cam
Capitalization.
stock, 6% cum
$3,500,000 .]Ry., Lt. & Pow. Co. Gen.
M. 4Hs (closed)_4
stock, 6%__
3.900,000
.$8,720,000
Birmingham Ry. & Elec.
Ref. and Ext. M. 6s
3,449,000
Co. First Mortgage 5s
6% Deb. gold notes ($2r(closed)
500,000 auth.).
909,000
500,000
Common
The deed of trust securing these notes covenants that there shall not be
exceeding $3,744,000 Ref. & Exten. Mortgage 6% bonds outstanding
during the life of these notes; that the
will not create any other
company i
is the said notes shall share equally
mortgage on any of its properties unless
in respect
;pe
of the lien thereof with any bonds at any time issued thereunder;
and that it will not create
any other indebtdeness during the life of these
notes, except for current operating purposes, save with the consent of twothirds of the debenture note holders.
Gross earnings
Net, after taxes
Earnings for Year ending June 30 1913.
$3,128,863 jBond interest.
$644,790
$1,207,1291 Int. on these $500,000 notes
30,000
Balance,.surplus, on basis of present interest charges
$532,339
Company has paid 6% dividends on its pref. stock regularly since issu¬
paying 6% on its common stock.
These stocks represent
market valuation of over $6,000,000.
See further data in V. 96, p.
a
1838,
1772.
.
Total
On the balance sheet will be noted advances to
Power Co. and the Sierras Construction
the
Southern
Sierras
Co. in the total amount of
approxi¬
mately $1,014,000.
These advances will be repaid in due time, but
tempo¬
rarily they have reduced the working capital through having reduced the
cash on hand, absorbing the unappropriated
profit of the year, slightly
increasing tjie current liabilities on notes payable, &c., and
incurring a
company.
The actual interest on the company's bonds in 1912 was
$169,269, but
Interest earnings on advances to associated
companies and on bank de¬
posits, &c. (less int. paid out) reduced the net interest charge to $157,438.
Outside of additions to the property and equipment made in six
years to
Dec. 31 1912 from the proceeds of stock and $2,300;000 of
bonds, the proo-
;
Birmingham-Tuscaloosa Ry. & Utilities Co.-riYok
Issue.—This company, which was incorporated in Alabama
in February 1913 with
$3,500,000 of capital stock in
$100 shares, has filed a mortgage to the Fidelity Trust Co.
of Philadelphia, as trustee, to secure an issue of $5,000,000
5% bonds, dated Mar. 1 1913 and due Mar. 1 1938 (par
$1,000,,$500 and $100; interest M. & S.; red. on and after
Nov. 1 1916 at 105 and int.), and has pledged the entire
lot as collateral for an issue of $3,500,000 6%
3-year notes
dated May 1 1913, due May 1 1916; int. M. & N.; trustee,
Girard Trust Co. of Phila.
Subject to call
on
Par of notes, $1,000 and $500.
and after Nov. 1 1913 at 101 and int.
The proceeds of the notes will be used for improvements and addition8
to the electric street railway and gas and electric plant in Tuscaloosa and
to extend the electric railway thence to Birmingham, 54 miles.
O.
R.
Carter is President.
The Birmingham-Tuscaloosa Ry. & Utilities Securities Co. was
rated in Va. Mar.
incorpo¬
13
1913
holding company, with $3,500,000 stock in
of Birm.-Tusc. Ry. & Utilities Co.
companies has anything to do with the Birmingham
Ensley & Bessemer RR. mentioned in V. 96, p. 1363, though controlled
by same interests.
See also V. 95, p. 1471; V. 86, p. 793.
$100 shares, and
...9,936,743 9,343,703
Total
9,936,743 9,343,703
Extracts from Statement by Pub. Accountant William E.
Humphreys.
1363.
Pref.
Neither of the
debt to another associated
RR.—
p.
ance, and is now
-
Total
(Electric)
Birmingham, Ala., and principal near-by cities and towns.* Total popu¬
lation served estimated at over 165,000; city of
Birmingham in 1910,
132,685, increase since 1900, 245%.
1911;/
1912.
Deduct—
Bessemer
Incorporated June 1 1901 as a consolidation and owns and operates
the greater part of the street railway, gas and electric lighting systems in
YEARS.
1911.
Gross earnings
&
Ry. & Utilities below.—V. 96,
Birmingham (Ala.) Railway, Light & Power Co.—
Debenture Notes.—Bertron,
Griscom & Co. are placing
$500,000 6% debenture gold notes dated July 1 1913 and
due July 1 1915, but callable at 101 and int. on any interest
date.
Par $1,000(c).
Int. J. & J. in N. Y.
Total auth.,
$2,500,000.
Bankers' Trust Co., N. Y., trustee.
Price on
application.
A circular shows;
/ •
1907.
$872,844 $772,846 $744,644 $708,315 $651,056 $612,676
580.572^ 560,025
512,451
461,175
436,317
398,194
Ensley
See Birmingham-Tuscaloosa
owns
as
entire stock
new
Boston &
Maine RR.—No Pref. Dividend.—-It was an¬
Wednesday that the directors had decided to
omit the semi-annual dividend of 3% due Sept. 1 oil the
$3,149,800 pref. stock (non-cum.).—V. 97, p. 174, 116.
nounced
on
Brazilian
Traction, Light & Power Co., Ltd.—Listed
London Stock Exchange has listed the
100,000 6% cum. preference shares of $100 each, fully-paid.
in
London.—The
See V. 96; p. 1627.
Pittsburgh Ry.—Annual Report.
Buffalo Rochester &
See annual reports on a preceding page.
Trusts.—Eean, Taylor & Co. offer at 90%
additional $500,000 4%
equipment series
"G" gold bonds, dated Oct. 1909, due Oct. 1 1929, but call¬
able for 6% sinking fund at par and int.
Interest payable
A. & 0. in New York.
Par $1,000 (c*).
Guaranty Tr.
Co., N. Y., trustee.
Tax-exempt in Pa.
Outstanding,
$2,794,000; canceled by sinking fund, $206,000; total auth.,
$3,000,000.
See advertisement on another page.
A circu¬
Equipment
int.
and
an
lar shows:
A direct obligation of the company and secured by a first lien on new
equipment costing $3,300,000, purchased at various dates since Oct. 1
1909, viz.: 2,465 steel coal cars, 100,000 lbs. capacity; 920 steel underframe box cars, 80,000 lbs. capacity; 100 steel underframe flat cars, 100,000
lbs. capacity; 21 steel passenger equipment cars; 4 Pacific type passenger
locomotives; 9 Mikado type freight locomotives.
The sinking fund will
retire the entire $3,000,000 bond issue before maturity.
(V. 93, p. 1.785.)
For the 10 years ending June 30 1913, the company earned practically
double its interest charges and rentals and paid 6% dividends on its pref.
6tock ($6,000,000 now outstanding) and average dividends of 5.25% on
its common stock ($10,500,000 now outstanding).
Dividends at rate of
6% are now being paid on both calsses of stock,—V. 95, p. 1402, 817.
Canadian
Northern
Ry.—Terminal
Debenture Stock.—
297, 236.
See Canadian Nor. Pac. Ry. above.—V. 97, p.
Ry.—Terminal Debenture
Stock.—The £800,000 4%% "1st M. Terminal Debenture
Stock" (repayable April 21950), which was offered July 25 to
29 through Lazard Bros. & Co., London, at £95 per £100, and
fully subscribed, is unconditionally guaranteed as to princi¬
pal and interest by the Government of the Province of Brit¬
Canadian
Pacific
Northern
A circular shows:
ish Columbia.
Principal and interest (A. & O. 2) payable in London and Toronto at
$4 86 2-3 to the £, according to the place of registry.
Transferable in sums
of £1 or multiples.
Subscriptions payable (per £100 stock) £5 on applica¬
tion, £20 on allotment, £35 Sept. 1 and £35 Oct. 2, when the definitive
stock certificates will be issued.
'
Secured pursuant to Act of Legislature of Province of Brit. Col., No. 30
of 1913, entitled the "Can. Nor. Pac. Ry. Terminals Act, 1913," as a first
mortgage on the terminals of the company at Vancouver, Victoria, New
Westminster, Port Mann and Steveston, and at Union Bay on Vancouver
Island, including all terminal lands, buildings and improvements, and the
and income arising therefrom.
Total amount of the stock
secured by the trust deed, $10,000,000, or its equivalent in sterling, viz.,
£2,054,794 10s. 4d.
The net proceeds to be paid to the credit of the Minis¬
ter of Finance of the Province, and paid out by him to the railway in com¬
pliance with the terms of that Act.
'
tolls,
revenues
Condensed Form of Guarantee Endorsed
on
Each Certificate.
By virtue of the powers conferred by the Legislature of the Prov. of Brit.
Col., Canada, and of certain orders of the Lieut .-Gov .-in-Council, and pur¬
suant to the
provisions of a deed of trust dated July 7 1913, made between
the Can. Nor. Pac. Ry. Co., Nat. Trust Co., Ltd., the British Empire
Trust Co., Ltd., trustees, and His Majesty the King, acting on behalf of
the Prov. of Brit. Col., the said Province of Brit. Col. does hereby guarantee
payment according to their tenor of the principal and interest of the deben¬
ture stock and for] bonds (herein called terminal securities) of the Canadian
Northern Pacific Ry. Co. issued or to be issued under the terms of said deed
of trust, payable on April 2 1950 and bearing interest,at 416 % per annum,
payable half-yearly.
The amount of said terminal securities included in
this general guaranty is $10,000,000 or its equivalent—£2,054,794 10s. 4d.
sterling.
Dated at Victoria, B. G., July 7 1913.
[Signed, Price Ellison,
Minister of Finance.}—V. 97, p. 297.
Carolina Clinchfield
Year ending
June 30—
Operating
Revenues.
1912-13..
Fixed
Charges.
$914,573
1,021.821
""
29,510
—V. 97, p. 49.
Balance,
Surplus'
$742,314
182,129
\
Chicago & Eastern Illinois RR.—Line AbandonedChicago Station.—A newspaper despatch says that the re¬
ceivers have decided to abandon the extension of the line
into Peoria, about 20 miles graded, but no
Trains, it is stated,
the La Salle station.
of
now use
The
the Dearborn
new
location
was
station
rails laid.
at Chicago instead of
decided upon for the benefit
patrons, the Dearborn
being
or two from the club
97,station
p. 175,
49. only a minute
I
and hotel district.—V.
Chicago Milwaukee & St. Paul Ry.
See "Annual Reports" on a
-Annual Report.-
preceding page.
Listed in London.—The London Stock
Exchange has listed
$42,396,000 4:%% convertible gold bonds, 1932 (V. 96, p.
284, 715,789; Y. 94, p. 1056,1118,1565).—V. 97, p. 175,298.
Chicago & North Western Ry.—Equiyrqent Trusts.—
Kuhn, Loeb & Co. purchased and re-sold this week $4,000,000 4%% equipment trust certificates, Series C, maturing
$400,000 annually on July 1 from 1914 to July 1923, in¬
clusive.
Int. J. & J. /
Coupon certificates of Farmers' Loan & Trust Co., N.*Y., trustee, with
privilege of registration.
These certificates cover 4 switch engines, 1,500
gondola cars (Waugh gear), 500 gondola cars and 2,005 box cars.
The cer¬
tificates, it is commonly reported, were placed on a'5^% basis.—V; 96,
p. 1364.
•
.
.
.
.
Chicago Railways.-^Dividend.—As previously stated,
was paid on Aug. 1 4% on the Series 1 8% cumulative
participation certificates.
there
.As there is due yearly 8% on that date, this will leave 4% to be paid
later in the year.
The next payment thereafter will be 8%, due Aug. 1
1914.
Compare V. 97,
p.
49.
Chicago & Western Indiana RR.—Gen. M. Bonds CalledOne hundred and twelve ($112,000) 6% Gen. M. bonds of 1882, for pay¬
Sept. 1 at 105 and int. at office of J. P. Morgan & Co.
See "Annua1
Reports."—V. 96, p. 1364.
ment
Cincinnati
Hamilton
&
Ry.—Authorized.—
July 28 authorized the com¬
pany to issue $787,000 1st M. 5s to the B. & 0. RR. to pay
for damages done by the March floods (V. 96, p. 1488).—
The Ohio P. S. Commission
V. 96, p.
Dayton
on
a
director to succeed
application
RR.—Application.company
states that there has
' :
;
on
*
Ry.—Decision.—The board of traction arbi¬
trators on June 19 handed down their decision on the eight
points in dispute, the company's representative dissenting
on several of
the findings.
In regard to the main question, it was held that, although a great calam¬
ity or other emergency might arise to permit the company to exceed the
operation allowance as fixed by the Council, in all usual expenditures the
allowance, once established, must be considered a maximum not to be ex¬
ceeded.
Present large deficits in the operating and maintenance funds
are ordered to be made up out of the company's interest fund, the arbi¬
trators holding that in the future the company must live within the allow¬
ances once accepted by it, except in emergencies.
An increased operating allowance from 11.50 cents to 12.10 cents per car
mile is allowed, effective as of March 1 1913, and it is recommended that
the deficit or over-expenditure of $286,000 in this fund be made up by a
transfer from the interest fund.
The company is refused an increase in
maintenance allowance from 5 cents to 7 cents per car mile, and it is recom¬
mended that after the operating deficit is made up, Council authorize
transfers from the interest fund to make up the $350,000 dfeicit in mainte¬
nance fund, but with the proviso that the interest fund at no time be re¬
duced lower than $400,000 by withdrawals.
The company is granted an increased allowance sufficient to make up
by Feb. 1 1914 deficits now standing in the operation and maintenance
funds, in case Council fails to follow promptly the recommendations of
the arbitrators in this regard.
President5 Stanley is quoted as expressing
himself as entirely satisfied with the decision.—V. 96, p. 1228, 789.
Colorado Kansas & Oklahoma RR.—-Successor.—
See Scott
City Northern RR. below.
Columbia
See
Nehalem
&
RR.—Controls-Bonds.—
Kerry Timber Co. in V. 96, p. 1706,
Cuba Company,
New York.—Pref. Stock.—A portion of
the present issue of $2,500,000 7% cum. pref. stock having
been taken by the shareholders, Robert Fleming & Co. of¬
fered in London July 19 to 21 19,532 shares of $100 each (of
which 15,000 shares had already been
N. Y. terms ($4 86^ per £1), £21 7s.
applied for) at 104%,
6d. per share, payable
on
application, £2; on allotment, £3; Sept. 1 1913, £3;
Oct. 15 1913, £3; Feb. 2 1914, £10 7s. 6d.
Earnings, dec., as Reported by Pres. W. C. Van Home, New York, July 3
(June 1913 Estimated).
'12-'13 (est.) 1911-12.
1910-11.
1909-10.
1904-05.
Cuba RR. (June 30 Yrs.)
$
$
$
$
$
Gross earnings.
4,595,812 3,819,253 3,059,649 2,559,335 1,029,258
Net earnings
2,147,484 1.818,859 1,374,071 1,107,299
295.623
Bal., sur., aft. pf. div.
750,000
559,862
347,316
322,089
Not
Cuba Co. surp. earns._
245,000
395,463 def.24,721
128,564
stated.
_
Total surp. for year.
995,000
955,325, 322,595
450,653
The dividend on $2,500,000 Cuba Company 7% cum. pref. stock will
require $175,000, and against this there will be a saving of $72,000 per an¬
num in interest when the $1,200,000 Jobato notes are paid.
•
Quite aside from its holding of the $10,000,000 common stock of the
Cuba RR., the other properties of the Cuba Company, its lands, sugar
mills and plantations, town sites, &c., are estimated by the directors as
of a present value at least equal to its entire cpaitalization of $14,500,000,.
whicn includes the $4,000,000 debentures and $2,500,000 pref. stock.
See
further particulars in V. 97, p. 236.
Central
Cuban
offices
are
now
at 71
Rys.—New Offices.—The company's
Finsbury, Pavement, S. C., London,—
Toronto.—
Amalgamation—Bonds Offered.—-The Investment Regis¬
try, Lim., London, recently offered for the company at 93%
$1,250,000 (£250,000) of its present issue of $1,450,000
1st M. 30-year 5% gold bonds of 1913.
Par £100 and £50
(c*&r).
A circular shows:
Dominion Traction & Lighting Co., Ltd.,
New
A first mortgage (a) on all the $1,500,000 cap. stock and all of the $1.000,000 First and Refunding M. bonds of the Windsor Gas Co.. of Ontario4
covering all the property, land, plant, buildings, mains, franchises,
in the cities of
Windsor, Walkerville and Sandwich
(subject only to $200,-
000 prior lien bonds); and (b) all the $750,000 outstanding
Windsor Essex & Lake Shore Ry. Co. of Ontario, which
1st M. bonds of
constituteajfirsfe
and assets of such railway company.
(1) that $200,000 of the $1,450,000 bonds shall
be reserved to refund the $200,000 prior lien bonds which are redeemable
Nov. 1 1914, (2) that the $375,000 2d M. bonds shall, whenever the net
earnings are at least $182,500 per annum, be exchanged for a similar amount
of 1st M. bonds (which will bring the total amount up to $1,825,000). and
lien on the entire property
The trust deed provides
„
July 23
already been expended $87,000
$396,300 to complete the toad.
,
(3) that no more than $1,825,000 of bonds can be issued until the earnings
twice the amount required for the annual interest on all bonds issued
proposed to be issued, and the capital security has been increased in
accordance with the stipulations contained in the deed.
are
and
Capital
Stock
and
Bonds
Issued.
Capital stock, common, $2,500,000; pref., $500,000; total
„_$3,000,000
First M. 5% 30-year gold bonds dated 1913 and due 1943, but
red. at 105 and int. either at company's option, after May 1
1914, or for sinking fund beginning May 1 1917.
Interest
M. & N. in London and at Union Tr. Co., Ltd., Toronto, the
mortgage trustee
„
1,450,000
Second mortgage 5% bonds
375,000
Digest of Letter from
Pres. W. C. Kennedy, Windsor, Ont., May 12 '13.
[incorporated with $12,500,000 of auth. capita
1913.—Ed.].,
Share capital issued and fully paid up, $500,000
Dref. stock and $2,500,000 common.
Has acquired (a) the total capital
stock, $1,500,000, and $1,000,000 bonds of the Windsor Gas Co., Ltd.,
being all its bonds excepting a prior issue of $200,000 (V. 79, p. 2208); (6)
all of the $750,000 1st M. bonds of Windsor Essex & Lake Shore Rapid
Railway.—V. 90, p. 978).
Has
Dominion charter
stock Jan. 16
The Windsor Gas Co., under perpetual franchise, furnishes all the gas
consumed in the growing city of Windsor and towns of Sandwich and
Walkerville and the territory tributary thereto, which places, though
situated in Canada, are in point of time nearer to the centre of Detroit,
directly across the river, than the major part of its suburbs.
The growth
of the territory served is due to the concentration of large enterprises from
the American side of the river in Windsor, because of the natural advantages
of this point for manufacturing and transportation (5 large railway systems
and numerous steamship lines), and because of availability to the parent
manufacturing enterprises in Detroit.
The recent decision of the U. 8.
Steel Corporation to build an enormous plant adjacent to Windsor must
cause further large increase in population of the territory served by our
The Windsor Essex & Lake Shore Rapid
(Electric)
Ry. is
38 miles in length, connecting Windsor with Essex, Kingsville, Leam¬
Earnings of Properties on
Which the 1st M.
Calendar Years—
applied to the Cal. RR. Commission for authority to issue
sufficient bonds and stock to build a line from Hopland in
Mendocino County to Lakeport in Lake County, 25 miles.
and that it is estimated that it will require
■
Cleveland
ington and numerous towns, villages and summer resorts on Lake
Cities Service Co., N. Y.—Contract to Purchase.—
The
Herbert V. Keeling.
over
See St. Joseph Railway, Light, Heat & Power Co. below.—V. 97, p. 197.
Clear Lake
San Francisco
mostly all of the rights of way for which have been secured.
capitalists have, it is said, agreed to take $400,000 bonds.
Stock outthorized
by charter, $500,000.
President, L. H.
Boggs; Attorney,
companies.
1700, 1488.
Cincinnati Street Ry.—New Director.—
Alfred J. Becht, Sec. and Treas., has been elected
Briggs Cunningham, deceased.—V. 91, p. 1446.
xcvii.
V. 96, p. 1422.
Ry.—Earnings.—
Other
Income.
$247,862
.
$2,634,635
2,321,803
1911-12..
Ohio
&
Net {after
Taxes).
$1,409,026
1,174,440
[Vol.
CHRONICLE
THE
364
Revenue
Operating expenses, including interest
Net earnings,
is
a
First
Erie.
(Collateral)
1911.
$409,512
304,187
_.______,_l__8105,325
Interest charge on the bonds secured by .this deed of trust. _"
The normal increases would produce net earnings for 1913 of
Lien
.1912.
$500,850
364.079
$136,771
$62,500
$186,781.
The proceeds of these bonds will be used to pay part of the purchase
price of the bonds acquired and pledged for this Issue, to refund existing
debts on properties purchased and to make permanent additions and im¬
The major part of the properties has been in operation 15
provements.
years, and for past 7 years under my chargelas Gen. Manager and Pres.
Aug. 9
THE
1913.]
now supplying our customers with natural gas piped from wells
distant, having a contract for all of the natural gas that we
need. We have a fully equipped artificial gas plant in reserve.
Fran¬
chise for artificial gas is at SI per 1,000 cu. ft.;afterl922.up to S3 net.
[Directors and Officers: Pres. William O. Kennedy, Chas. T. King
Edmund I. Scully, Thomas P. Pinkard and T. Le Suer.]
We are
45 miles
may
Duluth South Shore & Atlantic Ry.—Earnings.—
June 30 Year- Gross.
Net.
Oth.Inc.
Int.,Tax.,&c.
Bal.,Def.
1912-13 __$3,412,832
$688,341
$39,144
$1,265,005
$537,520
1911-12._ 3,152,475
757,314
40,697
1,160,983
362,972
.
—V. 96, p. 359.
i
•
Erie RR —Earnings.—As
reported to N. Y. Stock Exeh.:
Net {after
Other
Fixed
Sink., Ac. Balance,
Taxes).
Income.
Charges.
Funds.
Surplus.
$
$
$
$
$
$
1912-13..57,290,468 14,674,977 5,810,493 13,403,528 694,036 6,387,906
1911-12-51,463,264 12,483,737
From the surplus as above in 11 months of 1912-13 there was appropriated
for additions and betterments $517,883, leaving $5,870,023.
Total profit
and loss surplus May 31 1913, $30,676,250.—-V. 97, p. 49.
11 Mo.end. Gross
Mau 31—Earnings.
—
Georgia Southern & Florida Ry.—Ratified.—The stock¬
on Aug. 4 ratified the proposal to guarantee an addi¬
holders
Hawkinsville & Florida
Line Ry. The stock¬
July 31 approved the sale.
Compare
tional $261,000 1st M. bonds of the
Southern Ry. to purchase the Gulf
holders of the latter
on
formal
News", in an editorial commenting on the fact that the recent
suit brought by the Mississippi Attorney-General (V. 97,
p. 237) is not taken seriously, but is regarded as having a
blighting effect on the commercial and industrial develop¬
State,
says:
The right of the Illinois Central to purchase the stock of the Yazoo &
Mississippi Valley was granted by Act of the Legislature in 1882.
For over
30 years the validity of this statute has not been questioned, and the filing
of a suit at this time cannot be regarded as anything less than a flagrant
breach of faith by the State, through its chief law officer.
The merger has
not only been recognized as a legalized fact for the past 30 years, but the
acquirement of the Y. & M. V. stock by the Illinois Central cost the latter
Company more than $1,500,000 in back taxes.
The U. S. Supreme Court,
it will be recalled, in the case of Wirt Adams, State Revenue Agent, vs. the
Y. & M. V., did not question the validity of the purchase of the stock, but
ruled that inasmuch as the purchase had been consummated the Y. & M. V.
should surrender its tax exemptions and other charter privileges.
In a
word, it cost the Illinois Central $1,500,000 to do something which 7 State
administrations have never questioned, in so far as its validity is con¬
cerned.—V. 97, p. 299, 237.
Interborough Rapid Transit Co .—Listed.—The New
York Stock Exchange has authorized to be listed $12,541,000
First and Refunding M. 5% bonds due 1966 (tax-exempt in
New York State), and the listing of $148,416,000 additional
prior to July 1 1914 on notice of sale, making the total
authorized to be listed $160,957,000.—V. 97, p. 234, 237.
bonds
Lehigh Valley Transit Co.—Subsidiary Bonds Offered.—
The Lehigh Valley Light & Power Co., a subsidiary, has sold
$250,000 1st M. 30-year 5s, due April 1 1943, but pallable in
whole or part at 105 and int. on any int. date, out of an auth¬
orized issue of $2,000,000.
They are being offered by E. B.
Smith & Co., bankers, at,97^.
of Roads— Ralph Peters,
Remuneration.—Claim
Chairman of the Railway Mail Pay
statements
to
Committee, has presented
that the railroads of the country are
show
underpaid by $15,000,000 annually for carrying the mails.
He reaches this result by adding to the cost shown in House
Document No. 105 in Nov. 1909 the following minimum
amounts
aggregating $30,980,000 for services of which the
Government takes
no
account:,
Northern
.
the proposed
on
Central
Ry —Baltimore
Terminals.—Pres.
Falls, north of Bath St., itemizes, under date of July 23, the
probable cost ($10,000,000) as follows:
Revision
of tracks
and
enlarged
railroad yard in vicinity of
$3,200,000
Bayview, real estate, buildLigs, &c_
In the Canton district, for real estate, new coal pier, new yard
tracks, buildings, &c
2,800,000
plans submitted May 27, for real estate,
yard tracks, buildings, street and other improvementsx ______ 4,000,000
I feel that the above expenditure should be increased by $2,000,000
fully to effectuate our proposed plans, but this can be made in the future."
[The necessary properties involved in this new development, not pre¬
viously owned, have already been acquired or are in process of acquisition
(at an estimated cost of more than $1,000,000).
The plan contemplated
the use of the Calvert St. facilities for freight service exclusively, provided
Calvert terminal under
the city authorities acquiesced, and if not, the elevation of passenger
facilities alongside of Calvert St. and over the freight tracks down to a new
terminal on the north side of Bath St. at Calvert St. both for freight and
passengers;
also
4-track connection from Union Station down the valley
a
of Jones'Falls.—V. 97, p. 297, 174.
Street
Massachusetts
Ry.—Bonds.—This
controlled by the Massachusetts Consolidated Rys.
(recently Mass. Northern Railways), has filed a mortgage to
company,
the American Trust Co. of Boston,
as
trustee,
to
secure
exceeding $5,000,000 30-year First and Refunding 5s.
not
The amount of the bonds authorized at the present time
is $500,000, of
$245,000 are reserved to retire an equivalent amount of Athol &
Orange St. Ry. Co. and Gardner Westminster & Fitchburg St. Ry. Co. 1st
M. 5s, due in 1915 and 1920, and $255,000 are issuable on account of float¬
ing debt incurred for additions and improvements.
The total issue of
$500,000 is approximately $11,000 per mile of main track.
Dated May 1
1§13, maturity May 1 1943, but subject to call on any interest date upon a
4^% interest basis.
No sinking fund.
Interest payable M. & N. at
office of trustee.
Par $1,000.—V. 97, p. 50.
which
Pacific
Northern
Ry .—New Officers.—The executive
announced on Monday, has decided to
recommend to the directors the following changes in officers
because of the impending retirement from the presidency of
Howard Elliott to assume the presidency of the New York
committee, it
was
New Haven & Hartford RR.:
The creation of the office of Chairman of the Board and the promotion
of First Vice-Pres. William P. Clough to fill the same; the promotion of
Jule M. Hannaford. now 2d Vice-Pres., to be President, and the promotion
of Geo. T. Slade, now; 3d Vice-Pres., to be 1st Vice-Pres.
of
Outlook.—William P. Clough, who will become Chairman
the company, was quoted Aug. 6;
"Conditions on the company's lines are very satisfactory and
we are
reaching the period of large business incidental to the handling of the crops.
We expect fully as much business as we had at the corresponding time las
year.
Our annual report for the last fiscal j^ear will show a surplus of
$3,800,000.
In that period almost $4,000,000 was spent on maintenance.
That amount is especially large because maintenance charges for two years
really have been included.
Because of the difficulty of obtaining labor in
summer we started our maintenance program several months earlier this
year than usual, and the cost is charged to the 1913 fiscal year.
Conse¬
quently the 1914 maintenance account will be much reduced, so, other things
being equal, our next year should show even better results."—V. 97, p. 118.
Pacific
The
Gas
&
Electric
Co.—New Note
stockholders will vote
Issue—Sale.—
Sept. 10 on authorizing an
issue of 6% collateral trust notes to mature June 26 1914 and
to be limited to $7,000,000.
Harris, Forbes & Co. and N. W.
Harris & Co., as managers of a syndicate, have agreed,
subject to such authorization, to take $4,500,000 as the same
are
'
(the share of the railway plant
used for postal service) of the net capital investment of all the
railways in the United States.
...
1
^_^___$16,380,000
2.
The space actually used for mail and incidental thereto, but
eliminated from the Department's calculations
9,600,000
3.
Difference between approved methods and the Depart¬
ment's methods of separating freight and passenger expenses
5,000,000
The services for which no compensation is made include (a) Providing
apartments for mail distribution in combination baggage cars, the space
being equal to 1,548 full postal cars; (b) carrying free P. O. employees not
in charge of mails; (c) carrying the mail between railroad stations and post
offices and between stations or from one train to a connection, where the
distance does not exceed one-quarter of a mile;
(d) providing rooms in th
stations for transfer clerks employed by the P. O. Department; also rooms
in stations for assorting mail, likewise mail-receivers
and mail-catchers.
See Toledo St. Louis & Western Ry. above.
Interest at 6% on 1.95%
1.
investigation and report
Samuel Rea, referring to the plan submitted to the City of
Baltimore on May 27 for terminals in the valley of Jones'
Northern
Illinois Central RR.—Ouster Suit.—The Jackson "Daily
Mail
order for
bond issue, limited to $167,102,400, in pursuance of the
resolution passed by the Senate on July 10.—V. 97, p. 176.
new
V. 97, p. 175.
ment of the
365
CHRONICLE
on
issued.
"
The present
issue of $4,500,000 is to be secured by $5,000,000 general lien
bonds and $3,200,000 general and refunding 5s, or in proportionate
amounts as the notes are put out.
The proceeds will be used to take up
demand notes for advances made and to be made by the bankers, pending
authorization of the notes by the stockholders, and also to pay other
current indebtedness for necessary construction work and the extension of
the business.
The remainder of the issue will be held for future requirem'ts.
6%
Earnings.—For six months ending June 30:
Gross
Operating
.Net
Interest
Balance,
Earnings.
Expenses.
Earnings.
Cha ge .
Surplus.
.$8,047,279
$4,582,478
$3,464,801
$1,903,469
$1,561,332
1912
7,366,438
4,055,018
3,311,420
1,745,004
1,566,416
The large increase in operating expenses is said to be due to the strike
in the light and power departments in May and June.
The Pacific Com¬
pany is now stated to be doing the largest business since its organization.
6 Mos.—
1913
,
Sept. 10.—This
77-mile road, extending from Manistee, Mich., to Marion,
on the Ann Arbor RR., 72 miles, and from Dighton tollartwick, 5 miles, will, it is announced, be offered at auction on
Sept. 10, upset price $250,000.
Manistee
&
Grand Rapids RR.—Sale
is given by John S. Lawrence, Master in Chancery.
the William T. .Joyce Co., Jas. K.McCarthy and
Notice of sale in equity
The
complainants
were
Simpson, the stockholders who applied for the receivership;
The stockholders in Oct. 1907 took up and therefore owned the outstand¬
William M.
ing bonds, viz., $100,000 5s dated Aug. 1900, due July 1
5H% bonds dated Oct. 1904, due Oct. 5 1906.
Consolidated
Massachusetts
„
See Massachusetts
Northern
1902, and $165,000
Rys.—New
Name.
Name.—This
asso¬
as Massachusetts Consol.
Fessenden, Richard M. Saltonstall, Robert L.
Warner, Joseph W. Stevens, Frederick E. Pierce, Edward C. Crosby,
Daniel P. Abercrombie Jr.
Controls through stock ownership Connecticut
now
Trustees are
known
Rys.
Russell G.
Valley Street Ry. Co., Northern Massachusetts St. Ry. Co. and Concord
Maynard & Hudson St. Ry. Co.
D. P. Abercrombie Jr. is Clerk and Treas¬
urer,
Greenfield, Mass.
Bonds.—See Northern Mass. St. Ry. below.—V. 96, p.1489
Montreal
Tramways.—Report.—
See "Annual
Reports" on a preceding page.
G. Ross and P. J. Mcintosh have been
added to the board.—V. 96, p. 1840.
New Directors.—W.
National Railways of Mexico.—Dividend
directors have decided not to
Omitted.—The
declare the semi-annual divi¬
[$28,831,000] first preferred, usually payable
Aug. 10.
The road is controlled by the Mexican Govt., as
stated in "Railway & Industrial Section."—V. 97, p. 176.
dend of 2% on
W New York Central & Hudson River RR.—Inquiry.—
Thejhter-State Commerce Commission on July 26 made its
The purchase of the
property was of importance to the company's plans
of.enlarging its system in Placer County, especially with relation to the big
reservoir, Lake Alta and Lake Spaulding.—V. 97, p. 238, 176.
Paragould
•
.
Southeastern Ry.—Lease
Ry. beloW.
and Guaranty.—
See St. Louis Southwestern
Philadelphia
&
Baltimore
Washington
RR.—Pur¬
chase,—The P. S. Commission of Maryland has sanctioned
Railways below.
Massachusetts Northern Rys.—New
ciation is
Acquisition.—A deed has been filed conveying to the com¬
the rights, reservoirs, ditches, &c., of the United
Water & Power Co. in Placer County, as recently authorized
by the Public Utilities Commission.
pany
the proposed purchase of Sparrow's Point
Pennsylvania Steel Co. for $1,400,000.
RR. from the
A 5-mile line built to connect the works of the Maryland Steel Co. with
Union RR. (and so with Phila. Bait. & Wash.) and also with the Northern
Central, the last-named operating it for 20% of receipts.—V. 97, p. 176.
Pittsburgh
Interest
Rate
Cincinnati
Chicago
Increased.—The
authorized the company to
& St.
Ohio P.
S.
Louis RR.—
Commission has
issue $7,000,000 43^% bonds.
The company found it impossible to float at 92 an issue of that amount
bearing 4% interest as authorized by the Commission on Feb. 24 last.—
V. 96, p. 1094, 1082.
Pittsburgh Fort Wayne & Chicago Ry.—Listed.—The
listed $2,410,000 additional
guaranteed special stock, making the total amount listed
New York Stock Exchange has
$52,436,300.
(The additional stock covers:
Passenger & baggage
Box
cars.
cars.
______
Gondola and flat cars____
Station houses
—V.
95. p. 176.
Point Loma RR.
.$182,276 Third and fourth tracks
$187,936
•
64,204 Track elevation
691,015
790,393 Real estate & right of way.. 300,507
107,244 Miscellaneous
86.453
•'
(California).—Government Interference.
The "San Diego Union*' of July 13 and 20 contains forceful letters from
Vice-Pres. and Man. Director W. Clayton in regard to Government and
366
[Vol.
State interference with the operation of railroads, particularly as shown
in the order of the Cal. RR. Commission requiring a, 20-minute-interval
service between San Diego, Cal., and Ocean Beach, applying during all
seasons of the year, regardless of necessity at least during a part of the year.
The Point Loma RR., while controlled, like the San Diego Electric Ry.,
stock
by the Spreckels Interests, is a distinct corporation with a separate
issue and also $130,000 of outstanding bonds.
Public Service
Corporation of New Jersey.—Appeal.—
The Public Service Gas Co. has filed notice of appeal to the
Court of Errors and Appeals from the decision handed down
July 7 sustaining the validity of the order of the Board of
fixing the rate for gas in the Passaic
division at 90 cents per 1,000 cu. ft.—V. 97, p. 238.
on
P. U. Commissioners
Quebec Railway, Light, Heat & Power Co., Ltd.-—
Bondholders to Meet.—Bondholders of the issue? named below
will meet at the office of the
Quebec Savings & Trust Co.
(the trustee for each issue) on Sept .2 to consider what action,
if any, should be taken in vievg^oHile registration on the prop¬
erty of the Quebec & Saguenay Ry. Co. of an alleged lien
by the contractors in connection with the construction work
done on the line of the said Quebec & Saguenay Ry. Co.
(Compare V\ 96, p. 203.)
The bondholders in question are:
(а) Holders of the bonds of the Quebec Ry., Light, Heat & Power Co.
Ltd., an issue of 13,000,000 francs 6% 30-year French Currency Bonds
Quebec & Saguenay Ry. Co., and dated
secured by bonds and stock of the
Feb. 1 1911 (V. 92, p. 882, 528).
^
(б) Holders of the bonds of the Quebec Ry., Lt., Ht. & Power Co., Ltd.,
authorized issue of 60,000,000 francs 5% 30-yr. French Currency Bonds
Saguenay Ry. Co. and stock of the
Lotbiniere Sc Megantic Ry. Co. and Quebec Eastern Ry. Co., dated May 1
1912, of which 10,922,000 francs (par value) of bonds are outstanding
(V. 93, p. 1726; V. 94, p. 209; V. 96,p. 203).—V. 97, p. 238,118.
an
secured by bonds of the Quebec &
Rates.—Protest
Against Reductions.—The President of
large Western railroads and the receivers of the St.
Louis & San Francisco and Wabash railroads at a conference
In Chicago on Monday of l^st week, issued the following
statement with reference to the reductions ordered in Mis¬
10 of the
,
souri, Arkansas and Minnesota and the recent decision of
theU. S. Supreme Court (V. 96, p. 1664,1773);
Missouri,
Arkansas and Minnesota reducing passenger and freight rates, which were
the subject of the recent decisions by the Supreme Court of the United
also
a lien upon the stock and bonds issued by the St. Louis Rocky Moun¬
Ry.
Since the execution of the mortgage, the company has
purchased further coal land and rights, has opened and equipped four
additional mining plants
(making five In all) and one new coking plant
(making a total of two), all of which new property has come under the Hen
of the mortgage.
These additions and improvements have increased our
capacity from about 1,500 tons daily in 1905 to from 7,000 to 8,000 tons,
and a present actual daily coal production erf 5,000 to 6,000 tons.
The railway has 106 miles of main line of standard gauge, well built
and maintained, with 523 freight cars, 2 passenger cars, 2 combined pas¬
senger, express and baggage cars and 7 locomotives.
It does not enter
directly any of the markets for the company's fuel, except local points of
small
importance, and the divisions of through rates which it has been
able to obtain are so small, owing to the short haul, that it has not been a
paying proposition.
In fact, there has been a considerable and increasing
annual deficit which has had to be provided for out of earnings from the
coal business.
Under the present laws, discrimination, either as to rates
or service, is
practically impossible; hence, the control of the railway by
this company gives no advantage which we would not otherwise
enjoy,
Moreover, we actually suffer a disadvantage in times of car shortage oil
tain & Pacific
account of the limited
equipment of the railway.
notwithstanding the large annual deficit of the railway,
in inter¬
est on the railway company's bonds and in money advanced for
operating
expenses amounting to $900,000, this company has
been able not only to
provide for this deficit and meet its own expenses, taxes and fixed charges
promptly, but has also accumulated a substantial surplus from earnings
of the coal business, the greater part of which has been re-invested in the
extension and improvement of the coal properties.
After a careful consideration, the directors have decided that the com¬
pany should go out of the railroad business and devote all its resources to
the enlargement of its fuel business.
The company accordingly has ne¬
gotiated an agreement whereby the railway stock and bonds or the railway
property may, upon release of said stock and bonds from said lien, with the
consent of bondholders, or, if necessary, through foreclosure of the mortgage
upon the railway, be disposed of to the Atchison Topeka & Santa Fe JEty.
Co. for the consideration mentioned in the enclosed agreement.
Such
disposition will bring four decided advantages for this company's bond¬
holders: <1) A valuable asset readily convertible into cash and bearing a
regular return in place of the non-productive stock and bonds disposed of.
(2) The assurance of ample transportation facilities at all times and the
active co-operation of a great railway in the promotion and extension of
our fuel business.
(3) Freedom from embarrassment in the future should
Governmental legislation compel the disposal of the railway without
possibly giving adequate opportunity to make favorable terms.
(4)The
proceeds of the property to be disposed of will be used for- your benefit
either by retiring a large amount or the company's outstanding bonds, or.
else the securities received as part of such proceeds will be held by the
trustee subject to the lien of your mortgage.
Heretofore,
which, during the past six years has caused a loss to the company
Present
The railroads have promptly obeyed the laws and orders in
The'
well
two-cent passenger fare has been put into effect in each State;
the reduced freight rates,, but the tariffs carrying these rates have
as
been filed under protest.
In the cases of a few of the roads, the claim that
the rates were too low was sustained, and while these roads were permitted
to maintain their rates, and will do so, where competitive conditions may
permit, the practical result of the decisions is to affect all lines alike in
competitive business, which comprises the greater part of the traffic involved.
It must not be understood that the Supreme Court has decided any of
these rates to be reasonable.
The lower courts, after long and patient
hearings, decided in each instance that the rates were unreasonably low,
and all that the Supreme Court decided upon this branch of the case is
that further proof should have been produced by the railroads.
Railroad men have always believed that the two-cent passenger rate
is not enough to pay for the character of passenger service demanded by
modern travel, and with the increase in steel equipment, automatic block
signals, high-speed tracks, new passenger stations, &c., that is constantly
required, this is more certainly true now than ever.
The freight rate re¬
ductions are unjust and unnecessary.
In the East the trunk lines are asking a 5% increase in freight rates and
there Is much indication that public opinion favors it.
West of Chicago
the railroads, as a result of these decisions, are facing heavy reductions.
In many important rates, and there never was a time when reductions In
rates were more unwise and called for with less reason than the present.
Several of these reductions were ordered 5 or more years ago under condi¬
tions of public opinion that have since largely changed.
In the meantime,
the expenses of the railroads have greatly increased, and the cost of new
capital for necessary improvements has become almost prohibitive.
As a
consequence! new construction has practically ceased and investors are
gradually withdrawing their funds from railroad securities and turning
to other forms of investment.
Believing that these reductions are not only wrong, but untimely and
unnecessary, the railroads have put these low rates into effect under pro¬
test and propose to continue their efforts to have them Increased.
New
evidence will be carefully prepared to meet the suggestions contained in
the opinions of the Supreme Court in case further litigation should become
necessary, and consideration is also being given to an appeal to the State
authorities and the Inter-State Commerce Commission for relief instead of
again resorting to the courts.—V. 96, p. 1840.
-
Reading
Co .—Proposed
'Government
Suit—-Attorney-
General McReynolds yesterday announced that Frederic R.
Coudert of N. Y. had been retained by the Department of
Justice in the suit contemplated to be brought shortly by the
Government against the company and others forming the
so-called "anthracite coal trust.'VV. 96,
p.
Light, Heat & Power Co.—
Cities Service Co.—Time Ex¬
tended.—E. W. Clark & Co., Phila., writing Aug. 1, said:
contract with Henry L. Doherty '& Co. for the purchase of the
common
stock deposited with the Fidelity Trust Co. of Phila. was made for
the benefit of the Cities Service Co. and has been transferred to that
com¬
by Henry L. Doherty & Co
We have agreed to extend the payment
due under said contract on Aug- 1 1913 to March 1 1914, and the payment
due on Feb. 1 1914 to Aug. 1 1914, so that the balance of purchase money
payable is due—$15 per share on March 1 1914 and $35 per share on Aug. 1
1914.
The new agreement provides for interest after Aug. 1 1913 at 6%
per annum, payable Mar. 1 I9l4 and Aug.. 1 1914.
Pursuant to said agree¬
ment, $500,000 of Cities Service Co. 5-year 7% convertible notes or the
existing issue have been deposited with the Fidelity Trust Co. as additional
collateral for the installment due Mar.l 1914, to be returned upon payment
of said installment.
Over 65% of the deposited stock has already approved
the agreement.
Interest due Aug. 1 1913 will be paid on presentation
of certificates of deposit at our office, 321 Chestnut St., Phila., for endorse¬
ment of such payment and of assent to the modified agreement.
See V.
95, p. 1542; V. 96, p. 136,361,1367pany
St. Louis Iron Mountain & Pacific Ry.—Authorized.—
Formal
approval has been obtained from the Missouri P. S.
Commission for the issuance of $28,584,500 6% first and re¬
funding M. 40-year 6% bonds.
.
None of the bonds, it is stated,
necessary
is to be sold at present, but the step is
in order to provide for the issuance of the bonds per plan V. 95,
{>.
ssue
177,
as the
greater
being deposited
in place
of an
old 1Iron
Mountain
security
forpart
the 3-year
Mo. Pa. notes
dated
June
1911.—V.
96,
p.
The company proposes
The mortgage securing your bonds is
our
a
first and direct lien upon all
ncoal properties, coal mines, mining and coking plants, which
con¬
stitute the principal security for your bonds (and wul so remain), and is
a
Ton, to Retire Bonds by Maturity.
also to increase its sinking fund payments to 3 cts.
Sec
ton constantly
of coal mined
each year
insteadand
of that
1 ct. aper
tonamount
as now.of outstand¬
Considertg the
increasing
business
large
ing bonds will be retired
it is believed that the
as a result of the disposal of the railway property,
proposed annual payment of 3 cts. per ton will be
adequate to retire the entire bonded debt at or before maturity.
The bondholders are requested to sign and acknowledge before a notary
the enclosed agreement, and forward the same with their bonds to the
Bankers Trust Oo., 14 Wall St., N. Y., the
depositary, in exchange for
of
certificates
deposit.
Upon execution of the supplemental mortgage,
the proper endorsement will be stamped on the bonds, which will then be
delivered to the holders of the negotiable certificates of deposit not later
than
June 1
1915.
Fisk &
Robinson, 26 Exchange Place,
N. Y., will
reply to all inquiries in this matter.—V. 97, p. 300, 238.
St. Louis Southwestern Ry.—To Vote on Lease and
Guaranty.—The stockholders will vote on Oct. 7 on leasing
the Paragould Southeastern Ry., and also guaranteeing the
payment of the principal and interest of an issue of 30-year
5% bonds of that road under a mtge. limited to $5,000,000.
The Paragould Southeastern Ry. extends from Paragould, Ark., to
BIythesville, Ark., 37 miles, its stock being owned by the St. Louis South¬
western.—V. 96, p. 1841.
,
Equipment Trusts—Potter,
Drexel & Co.,. Phila., pur¬
chased and have sold (on a 5 % % basis) $1,760,000 Equipment
Trust 5% Certificates, Series "R," to be dated Aug. 151913.
Interest payable F. & A.
A circular shows;
Southern Railway ."—Sale of
Choate & Prentice, N. Y., and
Due
in
20 substantially
equal
semi-annual
installments from Feb. 1
1914 to Aug, 15 1923 incl.
Trustee, Penn. Co. for Ins. on Lives & Granting
Annuities, Phila.
Will be issued under the Phila. plan, covering 25 loco¬
motives, 1,500 steel coal cars and 150 stock cars, purchased at a total cost*
of
$2,200,000, of which $440,000. or 20%, is to be paid in cash by the rail¬
and the balance represented by these certificates.—V. 97, p. 300.
way
Toledo St. Louis & Western RR,—To Discontinue Mail
company, it is stated, has
tice to the Post Office Dept. that it will on Sept.
Transportation.—The
given,
no¬
24 discon¬
transportation of mail because the remuneration
The Department will, it is stated, endeavor
adjust the matter with the company.
tinue the
is not sufficient.
to
.
30 1912 received $62,005
year.having been $3,865,230.
Of the 4r-year contract with the Government, there remains, it if
said, about 2 years.
It is admitted in the report of the P. O. Dept. for
the year ending June 30 1913 th^t many of the roads carry mail at a loss.
See item on "Mail Remuneration" and editorial remarks on a previous page.
—V. 95. P. 1395.
The company in the fiscal year ending June
from this service, the total gross earnings for the
Union Pacific RR.—Due Bills for
"Rights".—While the
transfer books closed Aug. 7 to take record of the stock¬
holders entitled to subscribe for certificates of interest in
Southern Pacific Co. stock (V. 97, p. 177) the
committee
on
Securities of the N. Y. Stock Exchange has decided that,
pending the announcement of the further details of the sub¬
scription offer, such as price, &c., stocks of theU.P. RR. Co.
shall not, until further notice, sell ex-rights and in the mean¬
time any sales thereof must be accompanied by due bills.
This means that any stockholder who sells his stock before it Is made
ex-rights also sells with it the right to subscribe and the due bill which he
gives with it becomes an order on him for the warrant which he receives
from the railroad company.
Extra Dividend
Agreement to Sell Railway Property to Atchison Topeka & Santa Fe.
.
Sinking Fund to Be Inc'd from 1c.. to 3c.
1841.
St. Louis Rocky Mountain & Pacific Co.—Railway
only to Be ' Sold.—Proposed Changes in Mortgage.—President
J. van Houten in circular dated Aug. 1 1913, addressed to
the holders of 1st M. 5s, say? in subsUnee:
of
additional bpnds amounting
par value, are authorized, and may be Issued for railway
It is proposed so to amend the mortgage that upon the disposal
of said railway stock and bonds or of said railway, the authority to issue
such additional bonds will terminate.
The mortgage securing your bonds
will thereupon become substantially a closed mortagge, as no further bonds
could-be issued thereunder, except not to exceed $1,000,000 for develop¬
ing and improving the coal property.
"
to $6,301,000,
1557, 1425.
St. Joseph (Mo.) Railway,
Purchase of Common Stock by
The
Mortgage to Be Closed except as to $1,000,000 Available for Future
Coal Developments, Ac.
Under this company's present mortgage,
purposes.
St/RtOS
as
xcni.
Talk.—Considerable speculation is rife as
likelihood of the shareholders receiving an extra
the
dividend out of the proceeds of the proposed sale
to
of $88,-
000,000 Southern Pacific Co. stock. While some of the
directors are said to admit the possibility of such a disposition
of a part of the proceeds, after the Southern Pac. situation
shall have been cleared up, there is stated to. be no likelihood
of anything of the kind at present during the absence in
<
AUG. 9
1913.]
THE
CHRONICLE
Europe of Chairman Lovett, and further that if any extra
distribution is made this year the funds therefor will come
from other sources.—V. 97, p. 300, 234.
United Properties Co. of Cal.—F.M.Smith
Proceedings.—
On July 24 the differences which for some time past have existed between
F. M. Smith and his former partner in the organization of the
company,
R. G. Hanford, were brought into the U. S. District Court at San Francisco
in
the
shape
of
bankruptcy proceedings instituted against Mr. Smith
the instigation of Mr. Hanford, by Albert Hanford, Leo R
Dickey,
O. E. Gilman and the Union Land Co., as creditors to a total of
$160,000.
The suit* it is stated, is brought "to bring order out of
at
chaos," and "to
the atmosphere of suspicion," but chiefly, it is
understood, to put
obstacles in the way of the financial plan mentioned in V. 97,
p. 118. under
remove
caption "San Francisco Oakland Terminal Rys."
is set for. to-day.
Statements
by
M.
F.
Smith
Advisory
The hearing
Committee
on the case
July 25.
The powers conferred upon us under the trust agreement are broader' In
can be exercised more quickly and at less expense than similar
character,
of a receiver in bankruptcy.
Since our appointment we have done
everything in our power to protect the creditors of Mr. Smith and of the
Realty Syndicate, in which Mr. Smith was substantially the sole stock¬
holder.
One matter of vital importance is the re-financing of the
Halsey
loan of $2,500,000 due from the Oakland Railways and which became de¬
linquent on June 12 last (V. 97, p. 118), and also there-financing of the
Key Route Basin bonds of $1,100,000, which will be due on Aug. 20 next.
powers
The creditors have been advised from time to time of the progress we have
made, and have given us their heartiest co-operation.
Mr. Smith's secured indebtedness amounts approximately to $6,000,000,
that of the Realty Syndicate, excepting mortgages therefrom, to
$2,000,000. The Realty Syndicate also has outstanding its Syndicate 6s of
about $4,000,000 (V. 96, p. 1560).
These sums in the aggregate con¬
stitute $12,000,000 of debt.
Creditors holding approximately $9,000,000 of this total sum have already deposited their securities with the
■
and
Mercantile Trust Co. of San Francisco, and have signed authorizations
giving the committee full power to act.
Certain other creditors holding
over $2,000,000 of claims nave agreed to co-operate with the committee.
At the present time, therefore, there is outstanding
only
$1,000,000
secured claims which have not yet expressed their intentions.
We intend
within the next few days to send to each creditor a full and
complete
statement, which has been in preparation for the last two weeks, of every¬
thing done by us since our appointment, showing also the present condition
of Mr. Smith's affairs and the affairs of the corporations he controlled.
Until the petition in bankruptcy was filed this afternoon, the committee
did not know that such action was contemplated.
Should the Court de¬
clare Mr. Smith a bankrupt, our work will be taken over by the receivers
who may be appointed.
(V. 96, p. 1425.)
Condensed
Extracts
from
Statement
by
Mr.
Hanford
July 25.
Wheeling & Lake Erie
See Wabash
constitute his technical control of the
corporation, otherwise 60%; 30,940
pref. shares, however, called for in Smith's contracts for delivery of
never delivered (see suit V. 97, p.
178).
Based on
the properties originally contemplated, the Properties
Company, through
me, had made arrangements abroad for sufficient financial assistance to
carry all its affairs to prosperity.
On Mr. Smith's failure to deliver the
of the
traction shares he has
Bref.financiers,
shares, the
corporation
wastowithout
or securities promised
and
they refused
furnishthe
theassets
money.
le
During the existence of the Properties Co., Tevis and Hanford have ad¬
vanced in cash to finance the
properties over $1,000,000, of which Mr. Smith
promised
verbally that he would advance or repay 60%.
He has done
Smith's attorney insisted that a portion of the prop¬
erty held by the trustees belonged to the Realty Syndicate.
The interest on bonds has not been paid by the trustees [including inter¬
est due July I on $11,234,000 interim 1st M. bond certificates see V. 97,
118], and is in default, and the Properties [Co.],
J
JL
VA.JvX
.ill
UUJ U be
I JLfear,
must
utterly
ruined".
Nevertheless the Smith trustees proposed to the Property trustees
that if I were given
any option on the trust holdings to enable me to attempt
a financial rehabilitation of the companies, it should not exceed
30 days.
Every sane man knows that I could not go to London and transact business
Then Mr.
neither.
|
^ y \J I .I
|
within that time.
[Interest on certain $313,000 bonds given with $200 cash by the Prop¬
erties Co. to the San Fr. Oakland A San Jose Consol. Ry. Co. in Feb. 1912
for $313,200 pref. stock of the Oakland Traction Co., it
appears, are not
scheduled to
pay
been
interest until Jan. 1 1916.
No dividends, it is stated, have
paid on the stock of the Oakland Traction Co. since that declared
in March 1912 for the cal. year 1911. while the payment to the United
Prop¬
erties Co. in March 1911 on its holding (of pref.) was
made with a note,
although for the year ending June 30 1912 the Oakland Traction Co. is said
earnings of $4,360,888 and net (after taxes) of
to have had gross
$1,442,845.]
*
Extracts
from
Statement
by
F.
M.
Smith
July
27.
There had been differences between the Hanford-Tevis interests and |myself in respect to the properties to be contributed to the United
Properties
Co. on its formation, ana this is Where the claim comes in that I was obli¬
gated to turn in additional railroad stock; but It was my contention that I
had more than contributed my share to the properties of the United
Prop¬
erties Co., and that the claim of the Hanford-Tevis interests that I should
was unwarranted and inequitable.
make further contributions
My refusal to yield what I believed to be an unjust and unfounded claim
led to an agreement on my part to submit my differences with the HanfordTevis interests to disinterested arbitrators.
This agreement to arbitrate
was
as
confirmed
over
recently
ated
this
as May
contract.
the signatures of Hanford and Tevis, as well as my own,
5,1913.
Hanford has nevertheless persistently repudi¬
I have sought
and
now
seek
arbitration.
an
The administration of my
affairs has been proceeding in the hands of the
F. M, Smith Advisory Committee and my creditors have deposited their
collateral with
the Mercantile Trust Co. of San Fr. at the instance of the
committee to approximately 90% of the outstanding obligations.
I pro¬
devote the rest of my life and everything that I have in the world
pose to
to the full payment of my
me.—V. 97. p. 178, 118.
Wabash
obligations, and I want
my
creditors to stand with
,
RR.—Default—Sale
of
Collateral.—The*
re¬
ceivers having failed
to meet at maturity on Aug. 1 the
principal and interest of the loan (amounting to $9,530,000,
with interest at 7% from Feb. 1 1913) created in
July 19,08
in order to take up $8,000,000
Wheeling & Lake Erie notes
(due Aug. 1 1908), Kuhn, Loeb & Co. and Blair & Co., as
of the syndicate which made the loan, bid in at
$9,863,500 the collateral therefor when offered at auction
by Adrian H. Muller& Son, 14-16 Vesey St., on Aug. 6, viz.:
managers
Wabash RR. Co. first refunding and extension
mortgage 50-year
4% gold bonds, due July 1 1956, together with the interest cou>ons appurtenant thereto due July 1
1911 and sinee__
$3,500,000
Wh€
leeling A Lake Erie RR. three-year 5% gold notes, dated
Aug. 1 1905, and matured Aug. 1 1908, together with $200,000
coupons appurtenant to said notes for interest due Aug.
1
1908, and also all claims for interest on said notes from Feb. 1
1908. [Secured by $12,000,000 general mortgage4s of Wheeling
& Lake Erie.
V. 81, p. 669, 778; V. 83, p. 1287; V. 87,
p. 286,
348; V. 92, p. 264. 324]
8,000,000
The receivers of the Wabash Pittsburgh Terminal Ry. Co. and Wheeling
A Lake Erie interests protested that the sale was illegal.—V.97, p.300, 238.
Washington (D. C.) Utilities Co.—Note Issue.—
The mortgage made to the U. S. Mtge. & Trust Co. of N. Y., as trustee,
issue (total q,uth. and issued) of $1,500,000 1-year 5% collateral
gold notes dated May 1 1913 and due May 1 1914, but subject to call on
secures an
int. date at par and int. as a whole, or in principal amounts of $50,000
or
multiples thereof.
Par $1,000.
Int. Q.-F.
Secured by pledge of
27,500 shares of common capital stock of the Washington Ry. A Elec. Co.
These notes no doubt take the place of the proposed bond issue which the
any
company was
recently forbidden to issue.
Compare V. 97,
p.
238, 300.
at
Auction.-
See Dominion Traction A Lighting Co. above.—V. 90 p.
192-
INDUSTRIAL,
Alabama
978.
GAS AND MISCELLANEOUS.
Traction, Light & Power Co.—Bonds.—
The bonds of the issue
of $6,000,000 1st M. 60-year gold 5s are now
ready for delivery in exchange for fully-paid scrip certificates at Parr's
Bank, Limited. London.—V. 95, p. 1471.
American
Malt
Corporation.—Injunction.—
Judge Mayer in the U. S. District Court on Aug. l,in the suit brought
by the American Malting Co., granted a preliminary Injunction restraining
Adolph Keitel, a malt broker, from attacking the Malting Co. in circulars
he has been sending out in his crusade against the so-called "malt trust";
also from interfering with contracts for the delivery of malt between the
company and malt consumers.
The complaint chafed that the defend¬
ant, who was once convicted and punished for libeling the company, has
advised consumers who were under contract to buy malt from the
to refuse to
accept shipments when they
American Steel Foundries
Net
ending
3 Mos.
30—
June
1913
-
Earnings.
$533,204
291,502
Six Months—
1913—
—V.
Other
Income.
$18,642
7,416
were
company
178, 52
delivered.—V. 97,
p.
-Earnin^QS.
Total
Int.,S.F.,
Balance,
$551,846
298,918
Depr.j
$296,206
196,016
Surplus.
$255,640
102,902
$1,232,496
495,429
$589,984
383,200
$642,512
112,229
Income.
■
o
-$1,203,762
480,158
—
1912_
97. p. 121.
$28,734
15,271
.
.
#
American
Writing Paper Co —Preferred
•••
-
Dividends.—
President Caldwell is quoted as saying that the question of
dividend
Oct. 1 next on the $12,500,000 7%
stock (on which 1% was paid semi¬
annually from Oct. 1909 to April 1913 inclusive) will be con¬
sidered by the executive committee next week.
Other
officers intimate that the payment will likely be omitted in
view of poor current earnings.
paying
a
on
cumulative preferred
The latter, it is stated, are largely due to the pending tariff bill, customers
being disposed to restrict their orders to current needs until definite action
thereon is taken.—V. 97, p. 46.
Ann Arbor
(Mich.) Water Co.—City Purchase.—
See "Ann Arbor" in "State and
Bristol
for property, one of which contracts was F.
M. Smith's written
agreement to furnish not less than 75% of the shares of the traction com¬
panies.
For this agreement he received and has the stocks, certificates
ror bonds and debentures of the United Properties Co. of
California, which
RR.—Notes
RR. below.—V. 96, p. 1366, 1299.
Windsor Essex & Lake Shore Rapid Ry.
This action is brought in the hope of protecting and preserving the United
Properties Co. and its subsidiary companies.
When these corporations were organized, tbey rested on actual property, or
contracts
367
City" Dept.—V. 94,
p.
1410.
(Conn.) Water Co .—Appraisal.—/
See Bristol,
Conn., in "State & City" Dept.—V. 94, p. 1054.
Buffalo
(N. Y.) General Electric Co.—Bonds.—
'
Wm. A. Read A Co. offered on Aug. 4 at 99 and int. First
Refunding M.
5% gold bonds (V. 89, p. 289), tax-exempt in N. Y. State.
Dated 1909,
Apr. 1 1939, but red. all or part by lot after Apr. 1 1914 at 105 and int.
4 weeks' notice.
Total auth. $10,000,000;' now out $1,000,000.
Par
$1,000 c*.
Int. J. A J. in N. Y.
Secured upon all property now owned
or hereafter acuqired,
including income, franchises and valuable water¬
front real estate in City of Buffalo.
Additional bonds issuable only to re¬
tire $2,375,000 1st 5s or 1939 and against certified expenditures for improve¬
ments and additions at not exceeding cost, with approval of P. S. Commis¬
due
on
For
sion.
some
years
past net income has been about 3H times the inter¬
est charge.
Followed by $3,724,000 stock, quoted about par. Dividends
paid not less than 4% each year since Oct. 1895 and 6% per annum in re¬
cent years.
See V. 97, p. 116.
Burroughs Adding Machine Co., Detroit.—Govt. Suit.
The Government on March 3 brought suit against the Burroughs Adding
Machine companies of Michigan and Missouri and 23 individuals, allegina
violation of tne Sherman anti-trust law, both as regards inter-State anS
foreign trade.
It was alleged that the company had "acquired and suppressed" the
Pike adding machine companies and attempted to acquire
Universal and
and
the Addograph Mfg. and Adder Machine companies; that
department was maintained embracing a special force of men to
competition, and that other unfair means of destroying competi¬
tion were also employed.
a
suppress
sales
suppress
,
Statement by President Joseph Boyer, Made March 3 1913.
Quite recently we learned that the Government was preparing to bring
suit, based upon misrepresentations which had been made to it, and we at
once took up the matter with its officials and satisfied them that if there
ever had been any violation of the anti-trust laws on out part it was purely
technical, and that the charges which had been made were either wholly
unfounded or based upon isolated instances of indiscretion on the part of
overzealous salesmen, without the knowledge of the company and In viola¬
tion
of
its
instructions and
policy.
|
Under these circumstances an amicable arrangement with the Govern¬
ment was effected which has now been
carried out by the filing of a suit,
and the entry by consent of a formal decree which satisfies the Government
and does not in any way interfere with the conduct of our business as we
always have desired and intended to have it conducted. [The decree orders
(1) to direct its agents in writing to desist from interfering with
competitors; (2) to use''all reasonable means and endeavors to have the
nstructions faithfully executed"; and (3) forbids the company, its directors,
officers, managers, agents or employees to hereafter acquire a controlling
interest in any competing concern without the consent of the Court, but
the decree does not prevent the directors,, officers, agents, employees or
stockholders from purchasing for their individual accounts less than a
controlling interest in the stock of any such competitor when such purchase
or acquisitions are not made to suppress competition or restrain trade.
—Ed.]—V. 90, p. 773.
the company
Canadian Car & Foundry Co.,
Ltd.—Bonds Sold.—
The Royalty Securities Corp. and Lee, Higginson & Co., jointly, have
purchased $320,000 additional 1st M. 6% bonds.
A block of $500,000 was
recently placed by the same bankers in London.
In May last the Royalty
Securities Corp. placed in London $900,000 7% participating cumulative
preferred shares.
Compare V. 97, p. 178.
Central Fuel
Oil
Co .—Plan
Operative—Sold.—
The plan of
reorganization (V. 96, p. 1842) has been declared effective
purchased the property at foreclosure sale.
Of the $5,333,300 outstanding bonds, nearly 98% has been deposited
with the Bankers Trust Co.
Assenting holders of certificates of deposit
are
to pay on or before Sept. 1 a sum equal to 1 ^ % of the face value of
their deposited
bonds; also, pro rata, a further sum for the purpose of
paying to the non-depositing bondholders their proportionate share of the
proceeds of the sale, such share being estimated at about 18% of face value.
and the committee has
—V.
96,
p.
1842.
Central Home Telephone & Telegraph Co. (of Dela.),
Louisville.—Successor Company.—This company on May 14
1913 took over the stocks, bonds, notes, &c., valued at
$1,530,819, which formerly belonged to the Central Home
Telephone Co. of Louisville (foreclosed).
More than the necessary
two-thirds of the deposited bonds of the
1913 to
bythe
the
trusteesplan
for
Jany 22
assented
modified
an.
com-
bondholders,announced
who, acting
ofthereorganization
at Toledo
under
agreement of May 20 1908, held in the name of the Central Home Tele¬
phone A Telegraph Co. of New Jersey, pending reorganization, the securi¬
ties Ac., that were bid in at foreclosure sale under Central Home Telephone
Co !s mortgage in Dec. 1909
The trustees were I. F. Knisely (Chairman),
W. P. Bowman, Geo. B. Winslow, T. A. Pedley, R. B. Crain and E. H.
Cady (Sec.).
Depositary, Ohio Savings Bank & Trust Co., Toledo.
Digest of Modified Plan of Reorganization.
ware,
'
corporation was organized by the syndicate managers in Dela¬
with an authorized capital stock of $2,04)0,000 (ail of one class).
A new
THE
368
bonds) for an amount sufficient to cover the principal and interest of
the bonds of the Denver Reservoir Irrigation Co., also [$1,182,2401 mechancs' liens;
(c) Class B participation certificates to be issued for unsecured
debts [$951,712] of the Denver Co., if proved;
(d) all interest coupons due
and to become due on the said irrigation district bonds on or before Dec. 1
1914, to be extended so as to become payable when the bonds mature, thus
giving time for the establishment of a sufficient supply of water.
The
plan further had in view placing with the trustee 54,000 acres of land
and about 7,000 shares of stock of the Farmers' Reservoir & Irrigation Co.,
out of 21,000 issued, each share entitling the owner to 10 acre feet of water.
Upon payment of all the new bonds and participation certificates the trustee
was to surrender the assets to the Denver company or its successor, if the
latter's bonds be foreclosed in the meantime.
The bondholders' committee consists of Harrison B. Riley, Chairman,
69
W.
Washington
St.,
Chicago, Joseph E." Otis,
S.
A.
Blish,
D. Arthur Bowman, O. T. Bridgman, W. R. Burt, Ralph S. Child, J. J.
Corkhill, Lorin Cray, E. J. Emmons, Thomas H. Hammond, O. A. Kenyon, Rudolph Kleyblote, Louis Koch, Robert M. Rother, Chester Snyder.
G.A. Speer and W. A. Starke.—V. 92, p. 465, 883, 959.
...
^
i
Gross income, $1,118,395; operating expenses and maintenance, $403,707; interest, $52,065; depreciation, $53,349; taxes, $73,321; bal.; net in¬
come, $535,951 (equal to
10.72% on the $5,000,000 capital stock).
An¬
nual dividend rate, 8%.
Outstanding bonds, $1,118,395.—V. 82, p. 1444.
and int.
Int. M. & N. at First Tr. & Sav. Bank, Trustee,
Chicago.
appendices, consisting of classification, directing and
1,000 pages of matter.
The Commission says
compiling tariffs,some900,000 separate
rates are published by express companies," while under the block system
ordered this is reduced to less than 650,000 rates.
The most important
change in rates is by way of modification of the present graduated scale of
parcel rates.
The 100-lb. rates for short distances have either been slightly
reduced or left unchanged; for long distances they have been somewhat
reduced.
For 50 lbs. or less they have been practically all reduced.
A
comparison of the rates prescribed with the parcel-post rates shows that the
express rates for packages over 4 lbs. when carried for distances of more than
200 miles and less than 3,000 miles are generally lower than the parcel-post
rates.
For distances of more than 3,000 miles the parcel-post rates and
the prescribed express rates are practically the same.
At a hearing held on Oct. 9 1912 the carriers estimated the reductions
at as much as 30%.
The Commission says that the estimates of losses
differ for the various carriers, but were estimated by 5 of the leading car¬
riers based on the traffic of Oct. 23 1912 as equal to 15 33% of the total
gross revenue.
This estimate the Commission states is excessive, and
"therefore adheres to the conclusion that the rates proposed by it are just
and reasonable, and directs that they be established on or before Oct. 15
1913."
[An average loss in rates of 16% for all the companies is estimated
at about $25,000,000 a year.
The officials of the companies now estimate
the losses as much higher than this—say 25 to 30%—and further say that
with the extension of the weight limit of the parcels post on Aug. 15 the loss
The report includes 5
.
Par
Earnings of Western United Gas & Electric Co., Year ended Jan. 31 19.13.
Gross earnings.
$1,359,3381 Fixed charges
$236,206
526,9711Surplus earnings
290,765^
Net, after taxes.
stock, on
in 1905,
dividends are paid.
Present
outstanding mortgage debt,
$4,341,000; debentures, $525,000, due serially to 1918.
The Coal Products Mfg. Co. has invested in its Droperty, including the
proceeds of this debenture issue, $1,150,000 and a cash working capital of
$150,000; and has outstanding common capital stock, $600,000, and no
bonds, but this property is covered by the mortgage of the Western United
Gas & El. Co.
Said property includes 45 acres owned and 65 acres leased,
comprising 1,330 feet frontage on Chicago drainage canal; 35 Heinrich
Koppers process coke ovens, each 35 ft. x 9 ft. x 18 in.; electric coal and
coke-handling machinery, 2M miles of railroad track and 2 locomotives;
fireproof buildings for purifying and sending out gas, &c.; power-house,
750 k. w, capacity, furnishing electric energy for the operation.
The second
bank of 35 ovens now provided and will be in operation early in 1914.
and $3,000,000 common stock, on which 3%
market value of stock,
over
$6,500,000;
Western United Gas & Elec. Co. is serving 43 communities with com¬
bined population of 185,000, through medium of a modern electric sta¬
tion containing steam turbine units with capacity of 2,200 k. w., four gas-
manufacturing plants, 747 miles of high and low pressure mains, 37,669
gas meters and 2,839 electric meters; also 32,596 gas ranges.
Gas sales for
the fiscal year ended Jan. 31 1913 were 1,017,049,200 cu. ft.
The contract
with the Coal Products Mfg. Co. assures an ample supply of gas at much
lower cost, the most efficient of the old plants to be held in reserve.
Columbia
(Tenn.) Water & Light Col—Me.—
See Columbia. Tenn., in "State and City" Department.
Cumberland County Power &
The company has acquired control
Light Co.—Acquisition.
of the York Power Co.,
which controls the York Light & Heat Co., to round out
the system.
: '
'
will be still
and $498,000 bonds.
Cumberland Telephone &
Teleg. Co—Decision, cSee.—
The U.S. Supreme Court on June 16, by a vote
Of 5 to 4, decided in favor
the suit to enforce the ordinance ousting the company from
Owensboro, Ky.
The majority (opinion by Lurton, J.) held that as the
city when it gave the use of its streets in 1889 did not specifically claim
the right to repeal the franchise, the company had the grant in perpetuity;
while the minority in an opinion by Justice Day say:
"The doctrine is weR
settled that a legislative grant of municipal authority shall be construed
most favorably to the public and against persons claiming thereunder.
If
doubt be determined in favor of the corporation and a grant which is not
clearly in perpetuity is held to be such, the effect is to tie the hands of the
municipality from obtaining revenue from the use of property held by it
in trust for all the people."
'
"
'
The physical consolidation of the Kentucky Telephone & Telegraph Co.
with the Cumberland company (operating an exchange at Winchester,
Pilot View, Becknerville Ford and Wade's Mill in Winchester and Clark
counties, Ky., with nearly 1,400 subscribers, was completed on June 15.
—V. 95. p. 1610.
of the company
greater.—Ed.]
'
The Commission says that if It be true that the railroads are constantly
receiving an increased proportion of the express revenues, then if these con¬
tracts are to be considered as a legitimate charge on the traffic, the result
must be to increase and not decrease express rates, and proceeds:
"As
the contracts
are mere
expressions of the wills of the parties
could always be so formed as to justify any rate
..
thereto, they
that the beneficiaries thereof
might consider possible of collection."
With regard to the argument that the loss of
business to the parcel post
earnings,of the express companies as to render all pre¬
valueless, the Commission says that this is equivalent
to saying that inasmuch as shippers have been given the convenience and
economy of the parcel post the express carriers must, on that account, be
allowed to charge rates higher than would otherwise be reasonable.
The
Will
so
far reduce the
vious investigations
Commission also says:
,,
parcel post it should
the railroads of the
it is of no consequence
the express respondents
herein or for the Post Office Department.
The express companies, more¬
over, will not experience a gr^ss loss of their earnings upon these small par¬
cels but only of the net difference between their earnings heretofore and the
cost to them of furnishing terminal service upon these parcels.
The Com¬
mission's conclusion is that any losses of business for the future may easily
be replaced by new business if the exprass carriers are so inclined, and that
the establishment of the parcel post is not a justification for any higher
scale of rates than the one here shown to be reasonable."—V. 95, p. 238.
"With regard to the small-package business Of the
be noted, however, that it will still be carried upon
country.
So far as the rail carriers are concerned,
to them whether they furnish rail transportation for
,
Federal Telephone &
.
Light & Heat Co. has $384,500 common and $81,700 pref.
It serves a population of 50,000 and has an
output of gas of 14,523,400 cu. ft. a year and 3,800 electric light and power
consumers.
The company supplies gas and electric light and power to
Biddeford,. Saco, Old Orchard, Grand Beach, Kennebunk, Kennebunkport,, Wells and York, Me.—V. 97, p. 175.
The York
stock
on
that under the present method or
..
dividends have been regularly paid since organization
Commerce
Commission
from Oct. 15 1913.
Joliet, selling gas, one of its
by-products, to Western United Gas & Elec. Co. under contract running
to 1950.
These debentures constitute a first lien on the proceeds realized
from this contract.
Estimated minimum revenue applicable to interest
($36,000) on debentures for 1913 at $250,000; for 1914 at $325,000.
Western United Gas & El. Co. has outstanding $1,500,000 pref.
Commerce
rate tables and covers over
Owns and operates a large coke oven plant at
which 6%
Inter-State
of
Order
Inter-State
Monday approved the report and order written by Commis¬
sioner Marble which virtually affirms the findings and re¬
duced schedule of rates submitted to the express companies
in the report made by Commissioner Lane (now Secretary
of the Interior) on June 8 1912
(V. 95, p. 179, 204).
The
rates and practices are ordered to be put into effect for 2 years
Joliet.—Guaranteed Debentures.
$500 and $1,000.
Rates.—Final
Express
Commission.—The
Emery, Peck & Rockwood, Chicago, brought out last May at par and int.,
and have wholly sold, serial 6% gold debentures.
Guaranteed as to prin.
and int. by endorsement by WesternUnited Gas & Elec. Co. (V. 92, p. 961
V. 94, p.
1191).
Dated May 1 1913.
Total authorized, $600,000.
of which $300,000 to refund a like amount now outstanding and the re¬
maining $300,000 sold to cover part of the cost of duplicating the ovens now
in use. Due in annual installments on Nov. 1—$50,000 in 1914, $100,000
yearly 1915 to 1919, and $50,000 in 1920, but red. on any int. date at 102
•
.
(111.) National Watch Co.—Earnings.—For cal¬
reported by "Chicago Herald":
Elgin
stock at $445; Russellville Home
Telep. Co., 694 shares common stock at $34,700; Cynthiana Telep. Co.,
400 shares common stock at $40,000; Owensboro Home Telep. Co., 100
shares common stock at $10,000; Owenton Telep. Co., 250 shares common
stock at $25,000; Paducah Home Telep. Co., 100 shares common stock at
$10,000; West Kentucky Long Distance Co., 25 shares common stock at
$250; Louisville Home Telep. Co., 509 shares common stock at $509,700;
Independent Long Distance Telep. & Teleg. Co., 2,755 shares common stock
at $275,500; demand notes of various companies, $72,134, and the telephone
exchanges at Guthrie, Marion, Providence, Salem, Clay, &c., in Kentucky.
Coal Products Mfg. Co.,
,
endar year 1912, as
Mt. Olivet Telep. Co., 89 shares common
•
xcvii.
new
and $400,000 of 6% collateral trust notes, par $1,000, $500 and $100,
payable on or before 5 years after date, interest quarterly.
All of the
property of the Cent. Home T. & T. Co. of N. J. (V. 84, p. 223) was
conveyed to the new corporation, and the latter's notes are secured by
a collateral trust deed to the Ohio Savings Bank & Trust Co. of Toledo,
trustee, as a first lien thereon.
Of these notes, $50,000 remain in the
treasury for future use and the remaining $350,000 were offered at 90%
to the depositors of original Central Home bonds in amounts equal to
one-sixth of the amount of the deposited bonds.
While the stockholders
of the Central Home Telephone Company of Delaware had then no legal
interest in the property, those who had deposited their stock were per¬
mitted to subscribe at 90 for any of the $350,000 notes which were not
taken by the depositing bondholders, and any balance was taken at 90%
by the syndicate managers.
The proceeds were to be used to pay all obli¬
gations of the Central Home T. & T. Co. of N. J., including $130,000 owing
to certain banks, $15,000 for corporate purposes and the remainder to pay
all attorneys' fees, &c., so that the new corporation shall be free of all
debts, excepting said $350,000 notes.
On Marcn 11 1913 the new Central Home Telephone & Telegraph Co.
was incorporated in Delaware, with nominal ($50,000) capital stock, and
on May 14, as stated above, took the following stock, bonds and notes,
valued at $1,530,819, including, with other minor cos. (compare V. 84, p.
223):
Bourbon Co. Home Tele. Co., 190 bonds valued at $57,000 and 972
shares of common stock valued at $97,200; Bowling Green Home Telep.
Co., 285 bonds at $98,500 and 873 shares of common stock at $87,300;
Marshall Co. Telep. Co., 140 shares of common stock at $3,500! Nicholas
Horns Telep. Co., 239 shares of common stock at $11,950 and $400 shares
of pref. stock at $40,000; Mayfield Home Telep. Co., 800 shares common
stock at $40,000; Maysville Telep. Co., 50 shares common stock at $5,000;
i
[Vol.
CHRONICLE
Telegraph Co., Buffalo.—Bonds.
the company to sell $509,000
less than 83 1-3%, to purchase and retire
companies which have been merged or consolidated with the com¬
pany, including some bonds of the following issues (compare V. 90. p. 107;
V; 95, p. 44): Corning Telep. Co., $84,000;
Frontier Telep. Co., $2,500,000;
Hanover Telep. Co., $100,000;
Inter-Ocean Telep. & Teleg. Co.,
$2,000,000; Ithaca Telep. Co., $95,000;. Livingston County Telep. Co.,
$110,000; Pepn Yan Telep. Co., $50,000; Salamanca Telep. & Teleg. Co.,
$39,000; Valley Telep. Co., $110,000; Watkins Telep. Co., $25,000; JYellsville Telep. Co., $40,000; Wyoming County Telep. Co., $25,000 —V
96.
p. 1492, 1159.
.
The
P.
S.
Commission
has authorized
1st M. 5s of 1909, due 1959, at not
bonds of
,
Four.States Coal & Coke Co.*
Balance
Sheet
June
30
1913
Pittsburgh—Bal. Sheet.
{.Total Each
Side $10,608,425).
.$5,000,000
45,805 Pref. stock ($2,500,000)— 1,525,000
Acc'ts and bills payable..
152,712
3,400,000
plies at works.
34,324 Bonds (V. 92, p. 1639)
Coal and surface lands.._ 8,000,352 Conv. gold bds. ($1,000,000) 4,11,000
Jarrell mortgage
15,000
Mine equipment and de- ".
38,483
velopment
1,839,452 Provisional funds
35,670
House equipment
...
359,713 Sinking fund
30,560
Stock in other companies..
25,000 Profit a,nd loss.
.
[Approved by certified public accountants.]
Capacity 2,000,000 tons.
See V. 96, p. 1492.]
Cash, acc'ts & bills receiv.
Advanced B. & O. RR.__
Coal not billed and sup¬
$303,779
Common stock..
— .
—
t
Denver Reservoir
Irrigation Co.—Foreclosure—Reorg.—
Foreclosure proceedings have been
started in the U. S. District Court
in Chicago by the Continental & Commercial Trust & Savings Bank to
foreclose the mortgage under which $1,306,200 6% bonds were issued in
1907
Ford Motor Co.,
surprising prosperity of the Ford Motor Co., which celebrated its
anniversary a few days ago, according to report, by declaring a
$10,000,000 cash dividend, is entirely the result of concentration, in the
opinion of Henry Ford, the President and founder of the concern.
"The centering of all efforts upon the building of just one good car," says
Mr. Ford, '.'has been the secret of our success.
Building only one model
makes possible the buying of materials in large quantities, eliminates un¬
profitable machine time by requiring only one equipment of machines and
enabling us to keep them always in use.
Every possible waste motion is
eliminated.
Materials in the rough enter the machine shop at one end,
and, without a backward movement, progress steadily to the other, where
they leave in the finished car."
When the Ford Company began operations in 1903, only 311 men were
employed and the production the first fiscal year totaled 195 cars, conThe
1910 and since being in default.
lines does not appear.
receiver Arthur Day
had obtained a further $1,000,000 from the Banque Franco-Americaine of
Paris (making a total of $3,000,000 advanced by that institution since the
receivership began), and would use the same in paying off the remaining liens
on water rights and lands.
The work of construction, it is stated, is practi¬
cally completed, there being now 177,000 acres of storage capacity, all
filled, the enterprise having cost about $8,000,000.
Some 210,000 acres,
it is expected, will be brought under the company's service, including 54,000
acres owned by the D. R.
I. Co.
The
bondholders'
committee
represents the defaulted 6% bonds of
The Denver-Greeley Valley Irrig. Dist. ($2,000,000), The Denver Reservoir
tenth
JrrifL Co. ($1,306,200, V. 89,
tFi
(Y. 84,
p.
1554), interest due in
This is preparatory to reorganization, but on just what
The "Denver Republican" on March 1 stated that
p.
413), Denver-St. Vrain Municipal Irrig.
Dist. ($1,250,000) and The North Denver Municipal Irrig. Dist. ($400,000),
holding in Sept. 1912 $3,700,000 of the bonds, all of which assented
to the plan of July 15 1912, Chicago Title & Trust Co., depositary.
The
plan, which at that time had not become operative, because the financing
had not been completed, called for the issuance by the Chicago Title & Trust
Co.,as trustee, of (a) not exceeding $2,650,000 first lien 6% bonds in order
take
up
interest
on
to.
$1,208,822 underlying obligations, provide for two years'
new
bonds, purchase receiver's certificates and debt, &c
certificates (a second lien subject only to sa
(&) class A participation
Detroit.—Official Statement.—The fol¬
lowing has been officially approved:
AnngcSfpu5—'^First
Year.
Ford cars produced
195
Plans are under way for
»
1910.
1911.
1912. 1913 est. Total to Date.
19.92Q 37,141 75,044 185,000 Over 300,000
practically doubling the size of the plants, which
at present have a floor area in the neighborhood of 117 acres.
The shops handle 1,000,000 pounds of material daily at the present pro¬
ductive rate of 850 cars per diem, and in the course of the year use 102,000
tons of steel, 925,000 lamps, 740,000 wheels and tires and 6,000,000 pounds
of hair for upholstery work.
The hides of over 277,500 cattle were re¬
quired to furnish the seat cushions for this year's output.
The daily pay-
AUG. 9
1913.]
THE
CHRONICLE
roll for the 16,000 employees runs from $35,000 to $40,000.
[The "Iron
Age" of N. Y. for July 3 devotes six pages or more to an illustrated article
regarding the plant.
The output for June 1913 is said unofficially to have
been 22.049, "breaking all the company's records"].—V.96, p.1775,1705.
Goldfield (Nev.) Consolidated Mines
Production (Tons
Month—
April
May.
June
---
Total——*
The preliminary
$357,000;
—V. 96, p. 1775.
recovery,
Hamilton
Referee in
Co.—Earnings.—
Treated and Shipped) and Earnings for Second Quarter.
Dry Tons.
Gross Value.
Total Costs. Net Profits.
26,185
$371,199
$177,844
31,047
30,486
433,545
382,601
214,100
201,819
$193,355
219,445
180,782
-87,718
$1,187,345
$593,763
$593,582
estimate of production for July is 29,488 tons; gross
operating costs, $195,000; net realization, $162,000.
,
bankruptcy H. H. Haines
of 100 cents on the dollar on
Assessment.—
June 17 ordered an assessment
17 stockholders holding 300 shares to raise
on
$300,000 to
pay the company's debts.
He found that the company has
$562,222 debt, of which $427,230 is due to the bondhodlers and $134,829
borrowed money and floating debt, and that it was capitalized at $1,000,000, divided in 10,900 shares at $100 each, all subscribed for, but not all paid,
on
?1300,000
being
distributed
as "a bonus
without
consideration,"
in exchange
bonds,
at the
reorganization
of the
combined
Hamilton Gas
Light &
or
Coke Co., the Hamilton Otto Coke Co. and the Hamilton Gas & Electric
Co.—V. 96, p. 422.
Kokomo
(Ind. ) Steel & Wire Co.—Bonds Issued
to Provide
New Open-Hearth Steel Plant and
Blooming Mill.—Peabody,
Houghteling & Co., Chicago, offered, in the "Chronicle,"
of July 12 at par and int., the unsold portion of $400,000
(closed) 1st M. 6% serial gold bonds.
A circular now at
hand gives the following additional data:
A closed first mortgage upon all the property now owned or hereafter
acquired, including the modern ppen-hearth steel plant and rolling mill now
being erected, to complete payment for which these bonds have been issued.
It is estimated that the new steel mill will cost $450,000.
The company
has just sold to its own stockholders $150,000 of additional stock, and we
have purchased this bond issue of $40O,O0O, which, together will furnish
ample funds to complete the new mill and add materially to working capital.
Incorporating these facts into the balance sheet of May 31 1912, assets
after the bonds are issued will be approximately:
Real estate, buildings,
machinery and equipment, $1,591,355; working capital, $572,152; patents
and patent rights, $29,109; other assets, $8,290; total net assets behind
these bonds, $2,2d0,906, or 5H times the bonded debt.
Until $206,000 bonds are paid, (a) not over 6% per annum can be paid
upon common stock and 7% upon pref. stock, (b) present net quick assets
must not be decreased by dividends upon the common stock or by investment in plant extensions, all of which shall be paid out of earnings, and in
no case may fall below $275,000.
Auditors selected by the bankers wiU
audit the books each year.
Property and operations have been investioldersby
gated
have
W. R.cash
Stirling,
investment
long V.-Pres.
of Illinois
SteeltheCo.
The stockof $1,750,000
behind
bonds.
a
Digest of Operations for Eight Fiscal Years ending May 31 1912 (not 1913
Sales
.$17,702,756 Interest charges
Produc.&rep'rs($346,16Q) 15,988,579 Paid in dividends
Selling & general expenses
658,558 Depreciation reserve
$55,895
549,226
276,410
—
Netearnings
$1,055,620
Balance, surplus—
—$174,087
Steel Mill.
an authorized capital stock of $1,000,000.
Owns
plants and 44 acres of land at Kokomo, viz.: (1) North plant, capacity
500,000 to 750,000 feet of ornamental fence and 20,000 wire gates annually
and 100 tons of farm fence daily; (2) South plant, capacity 300 to 350 tons
of rods in 24 hours, with wire-drawing mill
capable of producing 300 tons
of drawn wire dally, of which 150 tons daily is galvanized and converted
into 50 tons of barb wire and 2,500 kegs of wire nails.
The new open-hearth steel plant for the manufacture of billets will In¬
clude two 75-ton furnaces and a 42-inch blooming mill capable of
blooming
800 tons of ingots per day, reducing 20xl8-inch ingots to 4x4 inch.
The
new steel plant will make the company a complete self-contained manufac¬
turing unit from the raw material to the finished wire and nails.
Owns and controls the patents on its own farm fence machines and barbwire machines, and builds these machines in its own shops.
Its "Kokomo
Woven Wire Fence" and "Kokomo Gates" are well and widely known in
the trade.
The company's products are marketed throughout the United
States and in Canada, Mexico, Cuba, Porto Rico, Central and South
.
.
America and South Africa.
1905 paid quarterly dividends at
rate of 6% per. annum and con¬
interruption until 1908, when the dividend rate
raised to 8% per annum, at which rate it has been maintained up to the
close of the company's last fiscal year, May 31 1912.—V. 97, p. 120.
was
[Capital stock: $1,000,000common, all issued, and $150,0007%
cum.
pref.
authorized and to be issued shortly.
Par value of all shares, $100..
The
pref. stock is redeemable at any time after two yearn from date of issue at
for 15 years from May 30 1913.]
Justice Greenbaum in the Supreme Court in this city on Aug.6 in the suit
brought by the Metropolitan Trust Go. of New York to foreclose the mort¬
securing $500,000 4% bonds, interest on which has been in default
April. l5 1908, declined to grant a decree declaring the principal of the
bonds due.
The company tendered the plaintiff upon the trial in November
last the full amount of accrued interest up to date, and the Court accords
it an
opportunity to renew its tender within 10 days, and if not ,accepted
to deposit the amount of interest now due in Court within 5
days thereafter.
The complaint is to be dismissed with costs-to the plaintiff upon
proof of
the acceptance of the amount tendered or of a deposit thereof in the case
pf non-acceptance, holding that there had been no' evidence to show that
a demand for'payment of the
coupons had ever been made after 1907.
The directors will hold a meeting -early next week to decide whether
to offer bondholders the unpaid interest.
If the latter accept payment,
it must be made by Aug. 18, and if they refuse to
accept, a deposit of the
amount due for interest must be made to the Court
by Aug. 23.' As the
failure to pay the interest would invite immediate foreclosure, it is
expected
that the banking interests now in control will elect to
pay the interest.
A banker says:
"The owners of the bonds find, by virtue of the decision,
that they possess nearly a 4% 40-year bond, callable for
payment at any
time by the directors."
They have tried to obtain control of the company
through foreclosure proceedings, but the decision favored the company
on every point.—V. 97, p. 241.
gage
since
Mexican Eagle Oil
Co., Ltd. (Compania Mexicana d©
Aguila," S. A.) —Bonds, Etc.—There were
offered at 96 ^ through the London
City & Midland Bank,
Ltd. (subscription books closing June 27),
£1,500,000sterling
convertible 6% 1st M. bonds (part of an authorized total
of £3,000,000 bonds), par £1,000, £500, £100 and
£20; due
Dec. 31 1931, at 105.
Principal and interest payable in
London in sterling, in Berlin in marks, in Brussels in
francs,
Petroleo* "El
or
25.25 francs to the£.
Anadv. shows: viz.
Incorporated in Mexico. Auth. capital $60,000,000 Mexican (say £6,125,000) in $10 shares.
Issued and fully paid up $50,000,000 Mexican (say
£5.104,000).
850,000 8% non cum. pref. shares and 4,150,000 ordinary
shares, all shares to participate equally in any year after 8% on each class;
1.000,000 ordinary shares are reserved to meet conversion rights below
mentioned.
On Dec. 31 1912, in addition to the
paid-up capital, accumu¬
lated reserves and undivided profits amounted to
£1,000,000.
The bonds, which are a"specific first change
upon a major part of the
assets, cover (1) the seven oil fields, from which the company is market
an
entire issue at 110
as
to area in two of them.
Royalties payable, reasonable; (c) sales
installations numbering over 160 throughout the Republic,
storage tanks, warehouses, railways, tank wagons, etc.;
(d) about
180 miles of main and subsidiary pipe lines and steel tankage, capacity
depots and
2,000,000 barrels.
The pipe lines connecting the main fields with Tampico
the two main loading stations on the Gulf of Mexico, will,
completed, ensure a loading capacity of 60,000 barrels
of oil per day; (e) two tank steamers for coastwise trade, oil barges, launches.
Assets as per bal. sheet Dec. 31 1912: Real estate, buildings, fixed
plant and equipment, etc., £1,799,918; subsoil rights on private lands
and Federal and State concessions, etc., £2,781,663; exploration and field
expenditures, £1,122,359; loose plant and equipment, £124,513; steamers
and Tuxpan,
when the former is
and other floating craft, £145,307; stocks of oil, stores, etc., £628,912; in_
vestments
at
cost
and
advances to allied companies, £380,221;
debtora
and debit balances and cash (less reserves)
£354,287); total, £7,337,180>
Data from C. W. Hayes First V.-Pres. and Gen. Man. of Exploration
and
Producing
Department, Tampico, May 8 1913.,
The production of oil in Mexico has increased from about 1,000,000
bbls. in 1907 to 15,695,000 bbls. in 1912, and will probably this year
exceed 20,000,000 bbls., of which the Mexican Eagle Oil Co.
produces
some
50%.
This
company owns
7 of the 14 fields from which the whole
Mexican production is now being obtained.
The tested capacity of our wells at present
exceeds 100,000 bbls. per
day, and the output is about one-third of that quantity.
The pipe line
facilities are being increased so as to enable us to transport and load up
to 60,000 bbls. per day.
We intend to establish a total productive cap¬
acity of 120,000 bbls. per day, so that an output of 60,000 bbls per day
can be assured, still leaving in reserve a further
60,000 bbls. per day
developed production.
.9402
to
June 30
1912 and half-year ending^Dec.
ended June 30 19i3.
31
1912
and
V QMonths Year 1912-13
1911-12. to Dec.31 ,'12. (estimated).
Bal. to credit of prof. & loss acct.for period £435,379
£324,261 est.£700,000
Transferred to field redemption and de-'
preciation accounts
292,647
136,485 est. 300,000
Year
,
Balance for period (net)_____
£142,732 £187,776 est.£400,000
foregoing is before charging interest on loans; interest on the
£1,500,000 bonds calls for £90,000, and on the entire £3,000,000
would require £180,000.
The company anticipates that after making full
allowance for field redemption and depreciation, the profits will, within
the conversion period of five years, exceed £1,500,000
per annum.
Directors: Enrique C. Creel, Mexico City (President); Dr. C. W.
Hayes,
Tampico; Mexico (1st V.dPres.); T. J. Ryder, Mexico City (2d V.-Pres.
Rt. Hon. Lord Cowdray (Pres. S. Pearson &
Son, Ltd.),,London; Georges
Benard, Paris, and John B. Body, Lie. S. M. Cancino, F. Diaz Barroso,
Lie. Luis Elguero, G. de Landa y Escandon and Lie. Luis
Riba, all of
Mexico CityV. 95, p. 364.
'
The
present
.
.
Michigan State Telephone Co —Stock Offered
—
Stockholders of record July
new
$2,500,000
16 are offered the right to subscribe for the
and $1,715,000 preferred stock, the common
common
stockholders in the ratio of 5 shares of
new for-7 old shares and the preferred
for the $1,715,000 additional
preferred at the rate of approximately 3 new
shares for four old.
Certificaets for stock will be issued as of Oct. 1 1913,
but interest will be paid on
of issue at the rate of 6%
subscriptions from receipt of payment to dat9
Compare V. 97, p. 179.
per annum.
Mobile
(Ala.) Electric Co.—Earnings.—c
Outstanding Capitalization: Pref. stock, 7% cum., par $100 (auth., $5.000,000; V. 93, p. .1605), $852,500; com. stock, par $100 (auth., $2,500,000),
$950,000; 1st M. sinking fund 5% gold bonds (V. 88, p» 234),
$1,6.96,000.
Year
Long Acre Electric Light & Power Co., New York.—
at 20.45 marks
after June 30 1918 as
estimate for year
two
runs
on or
with
Profits year ending
porated in Indiana with
option of company, and
or
The bulk of our oil will have a specific gravity
.9163.
Smaller quantities will be of an inferior grade of
.9658 specific gravity, whilst
in one of our fields a third grade
of exceedingly high quality,
equal to rthe best grade of Pennsylvania
crude is being developed.
[Signed by Dr. Hayes.]
v
Digest of Letter from Pres. A. A. Charles, Kokomo, March 7 1913.
Business organized in 1896 as Kokomo Fence Machine Co., with a cash
investment of only $1,500, enlarged in 1899 as Kokomo Wire & Nail Co.,
and again in 1901 as the Kokomo Steel & Wire Co., which was then incor¬
without
tations
of
earnings at average net profit of $3 50 per ton on output
capacity of 75,000 tons of finished products
..—$262,500
Maximum Interest charge on these bonds is
:
24,000
Average annual requirements for both prin. & int. of these bonds.
58,847
rate
int.
Bondholders have the right any time prior to July 1918, on 14
days' notice in writing to company, to convert all or any of their bonds into
fully-paid ordinary shares at rate of one share of $10 for every principal
sum
of £3 (excluding
premium).
The proceeds of the bonds will be
applied in reducing the floating debt; in the construction of the new re¬
finery at Tampico; in the purchase of additional lands and subsoil rights,
construction of main pipe-lines, wharfage, sea-loading lines, tankage, etc.;.
in payments on account of the ordinary shares of the Eagle Oil
Transport
Co. Ltd., and in providing additional working capital.
The total oil properties
include: (a)
Freehold oU lands and subsoH
rights on private lands held on long-term leases under royalty, total area
over 800,000 acres;
(ft) concessions having 40 years to run from Federal
government of Mexico and States of Vera Cruz, San Luis Potosi, Tamualipas, Tabasco and Chiapas for exclusive or preferential oil rights on all
the national, State and vacant lands within these States, and certain limi¬
of
Net
In
105 and
at
and int.
1.0000 to
Estimated Average Annual Earnings upon Completion of New
tinued this
ing oil, with subsoil leases, pipe lines, etc.: (2) freehold oil lands and subsoil
rights over upwards of 600,000 acres in the State of Vera Cruz not
yet de¬
veloped; (3) freehold refinery at MInatitlan (input capacity of 9,000 barrels
per day) from which fuel oil, kerosene, motor spirit, asphalt and other refined'
products are obtained; also leasehold refinery under construction at
Tampico, that will have an input capacity of 25,000 bbls. per day, th
first unit of which(12,500 bbls. per day) should be in
operation in about
12
months;
(4)
freehold
offices
in
Mexico
City
and
Tampico,
and (5) shareholding in Eagle Oil Transport Co, Ltd.,
namely £500,000
in shares of £5 each, being 50% of total authorized and issued
shares;
of the capital, 5,000 shares are fully paid and 95,000 shares are at
present
5% paid.
The Transport Co. has chartered to the Oil Co. until 1932, 2&
new tank steamers built or building, total carrying
capacity 250,000 tons.
Annual sinking fund beginning 1918-1919 sufficient to redeem at
105%,
not later than Dec. 31 1931, all bonds issued.
Bonds callable for sinking
fund
,
(0.) Gas & Electric Co.—Stock
369
ending
Gross
June 30—
Earnings.
1912-13—$378,628
1911-12
...
367,665
,
Net (after
Other
Taxes).
Income.
$177,625
174,579
$1,557
Interest
Paid.
$84,800
88.6S4
-
Pref. Div. Balance,
(7%).' Surplus.
$59,675
$34,707
59,675
26,220
Deductions for bond interest ($84,800) and pref. dividends are
computed
basis of totals as shown above, although not all were
outstanding for the
full periods covered
on
at
rate of
respectively.
Pref. stock has received dividends quar.
6% yearly from Nov. 1906 to Aug. 19l0 and of 7% since.—
V. 96, p. 1301.
Montreal
•
Light, Heat & Power Co.—10% New Stock
Par.—Holders of the $.17,000,000 stock of record at 3 p. m.
are notified by circular of Aug. 1 of the right to
subscribe at par ($100 a share) on of before Nov. 17 for
at
Sept. 15 1913
$1,700,000 of the $5,000,000 new stock authorized June 4,
to the extent of 10% of present holdings.'.
'
..
Subscription warrants will be issued to registered shareholders about
1.
Subscriptions are payable to Montreal Trust Co. in Montreal or
as follows;
25%, or $25 per share, on subscription on or before
Nov. 171913:25%, Feb. 16 1914; 25%, May 15 1914: 25%.Aug. 17 1914.
Interest at 6% will be paid on Aug. 17 1914 on prior instaUments from the
due date of each installment to
July 31 1914 to holders of record on that date.
Shareholders may pay any or all of the installments before the due dates,
but no interest will be allowed on such payments previous to due dates.
In order to participate in the dividend for the quarter ending Oct. 31 1914,
the fully-paid-up certificates of subscription must be sent in for exchange
for definitive certificates on or before that date.
Compare V. 96, p. 1776,
Oct.
London
1632,
1124.
Mountain States
(Bell) Telephone & Telegraph Co.—
Report.—See "Annual Reports"on a preceding page.
Earnings.—Reported with dividend checks for Apr. 15
and July 15 1913 :
Gross.
Net.
Divs.,Est. Res.&Sur.
$452,514
$346,328
$106,185
388,460
314,932
73,527
Increase, 2 months.
57.806
64,054
31,396
32,658
Stations owned May 31 1913, 192,793; connected, 19,547; total in ser¬
vice, 212,340; increase for 2 months, 4,798.
Miles exchange wire, 444,102;
increase, 5,305; itoll wire, 73,969; increase, 1,229.
•
Boettcher, Porter & Co., Denver, recently called attention to the small
decline (4>£ %) in the price of the stock as compared with other standard
stocks since Jan. 1, the price for the shares, now paying 7% per ann., be¬
ing on July 15 101.—V. 97, p. 241» 120.
2 mos. ending May 31 1913- —.$1,226,441
2 mos. ending Feb. 28 1913
1,168,635
,
THE
CHRONICLE
Muskogee (Ukla.) Gas & Electric Co.—Earnings, &c.—
Year ending
Gross
Net (after
Other
Interest
Pfd.Divs. Balance,
Taxes).
Income.
Paid.
(7%).
Surplus.
1912-13—
$211,063
$8,828* $71,722
$100,331
$47,838
1911-12
529,978
213,566
73,696
99,295
40,575
Outstanding capitalization: $1,433,300 7% cum. pref. stock; $765,500
com. stock; $1,058,000 "1st & ref. M." 5s, due Dec. 1 1926, callable at
105 & int.: Muskogee 1st M. 6s, $50,000, due Oct. 1 1917; Muskogee Elec.
June 30^
-Earns.
$521,207
& Gas 1st deb. 5s due Mar. 1 1924, $310,000.
Deductions for pref. dividends are computed on the basis of totals as
shown above, although not all outstanding for the full 'periods, respec¬
tively, covered.
Preferred stock has received dividends quarterly since
March 1 1910.—V. 96, p. 1301.
N. Y. Lake
?3rie & Western Docks & Impt. Co .—Listed.
The N. Y. Stock Exchange has listed $3,396,000 1st M,
gold bonds.
Compare V. 97,
(extended)
5%
54.
p.
Niles-Bement-Pond Co. (Machine Tools), N. Y.—Earn¬
ings.—Pres. Robert C. McKinney in
a circular reports:
At Its meeting held yesterday (Aug. 6), your directors decided to con¬
tinue the policy determined upon at the last meeting and to pass the divi¬
dend on the common stock for the third quarter of the year.
If viewed
without other considerations than the net earnings for past quarter, the
usual dividend might have been declared, but your board feels that general
conditions are still unsettled and that in omitting this dividend it is taking
the best course,
Your board hopes that by the close of the next quarter all questions affect¬
ing general business conditions will have been so rar settled that the results
may be known with reasonable certainty and that it may feel warranted in;
declaring a dividend on the common stock.'
Results for the Quarter and the Half-Year ending June 30 1913.
.
6 Most,
3 Mos,
.
Net profits from
operations after charging off all expen¬
ditures,for drawings, patterns and ordinary repairs- -$304,696
Regular quarterly dividends paid
preferred stocks—
Expenditures to June 30, accpunt flood loss at Hamilton
Balance
earnings for common stock.
as
:
152,544
82,357
82,357'
$310,687.
$146,478
Consolidated Balance Sheet, Company and Its Associated Companies.
June 30'13. Mar.31'13.
June 30'13 Mar.sm.
Assets-—
Liabilities—
I.,
$'
Property account-13,617,842 13,546,296
Investm'ts in other r
•
104,779
104,825
.companies
Inventories^
5,521,201
5,460,368
Cash,
notes
and
,
receiv¬
accounts
able
„
2,476,579
1
2,395,488
Paper Co., Ltd., for the distribution among the pref. and
$$.-t
Common stocki— 8,500,000
Preferred stock—. 1,746,300
Pref.stk.assoc.cos. 3,311,700
8,500,000
1,746,300
<
28 1913 and to 20% of your holdings of the common stock."
The cer¬
shares will be distributed on or about Sept. 1 1913.
tificates
for the new
See V. 97, p. 241, 302.
Union
Natural
letter sent out
Of the
Gas
July 15
as
Corp., Pittsburgh.—Bonds.—A
quoted says:
$6,000,000 6% bonds authorized, $1,200,000 were reserved
for exchange for old bonds of 1904, due
Sept. 1 1913 to 1916, which are
rapidly being turned In. Of the remaining new bonds, the directors be¬
lieve they will not be obliged to sell more than
$3,300,000, of which $1,500,000 have already been sold, leaving $1,800,000 to sell and $1,500,000 in
the treasury.
[No bonds are reserved to retire the bonds of "under com¬
panies" which on June 30 1913 aggregated $1,309,300*1
The new 18-in. and 16-in. pipe lines now being constructed from
Sugar-.
Grove, Ohio, to Muncie, Ind., and which we expect to complete by Oct. !■
of this year, will cost approximately $1,800,000, and the
proceeds of,the
bonds sold and to be sold will pay for this new investment in addition tothe retirement of notes payable, which since
April 1 have been reduced\
from $2,006,445 to $528,225Upon the completion of the new trunk lines,
we shall have immediate service from cities
having a combined population
of approximately 200,000 residents.
These 6% bonds are in $1,000 coupon form, Interest payable A. & Q.,
free of Federal and Penna. State taxes.
Your board unhesitatingly recom¬
mends their purchase at par and Int.
Bonds mature from Apr. 1 1915 to
AfcMff 1 1926, both dates inclusive, $500,000 each year.
We intend to main¬
tain the price at par and bit;
When the treasury bonds are sold, the issub,
will no doubt be quoted at a premium..
new
Earnings.—Tlie half-yearly
statement compares as follows:
Statement/or HalfrYear ending June 30 1913 and CaU Year-1912/
Period^
Gross„
Net
Interest,
Divs.
Balance,
Covered—
Earnings.
Earnings.
&c.
Paid...
Siirplust
1918, 6 mos.$^575,576v $1,335,379
$136,712
(5%) $450,000
$748,667
1912, ye*r- 4,431,310/
1,947,519.
252,237- (10)- 900,000
795f?82£
Gas sold in. 6 mos. of 1913: 11,869,265,000 cu. ft. for $2,380,453; oil
sold; 49,808, bbls: for $123,216. Charged, off for depredation; 6 mos.
1913; $549,605;:yenr, 1912, $606,030.
"
•'
BALANCE
June 30 *13;
125,000
125,000
Current liabilities.
1,877,167
Investments
Adv.pay .on contr.
50,790
Deprec'n reserve— 2,571,922
1,805,862
80,149
2,572,983
Cash-...
Profit and loss.
3,364,983
ssds
Aeots
'
1
—
—
.
■
i>cc.3t '12.
(*'■
18,038 365 17,568,129
receivable.—
1,858,364
667,577
.
1,407,030
161,086
SHEET,
June 30 *13.
*
21,720,401 21,506,977
Total
.....21,720,401
21,605,977
New
May 1) 1913 attached) and of pref. and com; stock are asked
to deposit their holdings-with the Equitable Trust Co., 37
Wall St;, N. Yv, depositary, on or before Sept; 15.
Present Capitalization.
,
1st Mi 5% bonds (auth. $6,000,000): Inhands of public, $2,593,000; pledged to secure notes, $1,068,000
j.—_*
$3,661,000
8ecured notes; 2-year gold 6s, $450,000; demand notes, $392,000.
842,000
Stoqfc/Pref., 6% non-cum., $1,000,000; common, $2,000,000... 3,000,000
Securities to Be Outstanding upon Consummation of Plan.
FirsIM. 5% gold bonds (auth* issue not to exceed $6,000,000) to
bear interest from Nov. 1 1913 and to mature at such time as
the committee may fix, but in not more than 26 years, and, if
committee so decides, may be made subject ;to call at a pre¬
mium and may also have previsions for a sinking fund.
Pres¬
ently issuable, to be sold at not less than 85% net...
.$2,000,000
Reserved for immediate issue, if required for, working
,
capital,.
.1 —-.$100,000
Reserved at par to retire outst. 1st M, [5%] bonds of
Cheyenne Light, Fuel & Power Co.. (due July IV'.
,
'
1925, see V. 75; p. 5511
— A—
163,000
Reserved for Issue under restrictions stated in mort.,
•
—
,
for future
acquisitions, improvements, &c
...Remainder
New Preferred Stock, pref. p.Ad.,entitled to preferred,dividends
at 7% per annum, cum. from Jan. 1 1914.
Total auth. issue,
•
Present issue to be
$1,500,000.
1,000,000
Reserved for future issue at not less than par in cash
acquire additional properties or for new con8truc_$500,000 "
Common Stock, authorized and issued to be..
i
2,000,000
to
Total
Cash.
New 7% Pf. Stk.
Pf. 6% stk.,
Com.
$1,000,000
—
but the committee may use any other method which it
may
deem!
In case of readjustment through a new company organized under
of some State in which stock may be issued without nominal or
par value, the com..stock may, in the committee's discretion, consist-of
20,000 shares without nominal or par value, and be deliverable in exchange
for existing com. stock at the rate of ope share of the new stock against four
shares ($400 par value) of the existing common stock.
The estimates in the plan are upon the basis of all the existing obligations
and, stock assenting to the plan.—Y. 96. p. 1706.
proper.'
Steel
Cleveland.—Listed
Co.,
in
London.—The
London Stock Exchange has listed $4,408,800 common stock
and $2,764,900 pref. stock (London certificates).
Early In June part of the contracts were let for the first unit, to cost
about $2,000,000, of an extensive finishing mill to be located
150 acres bought In January 1913 in the upper Cuyahoga Vall¬
ey for $500,000 or more.
Compare V. 96, p. 557, 950.
it is said,
on a tract of
Porto Rican Tobacco Co.—Earnings.—
June 30
Year—
1913
Net (aft.
Depr.,&c.)
$477,956
498,868
1912
Other
Total
Int.,
Dividends
Income.
Income. Tax.,&c.
Paid.
$266,170 $744,126 $72,153 (18%)$359,892
234.636
733,504
31,911 (16%) 319,904
Balance,
Surplus.
$312,0 81
381,689
The dividends as above in 1912-13 include 2
quarterly cash payments of
4% each and 2 of 5% each in scrip.
The total surplus June 30 1913; after
deducting an extra dividend of 20% paid in scrip on Dec. 5 1912, was
$1,138,178.—V. 96, p. 1706.
Sears, Roebuck & Co .—Total Sales.—
1913—July—1912.
$6,349,552
Increase. I
$5,787,753
9.71%
■—V. 97, p. 55.
Spanish
1913—7 mos.—1912.
|$51,259,082
$45,507,968
/
River
Pulp
&
Paper Mills,
Increase.
12.64%
■
Ltd.—Bonus.—
The Dominion Bond Co., Ltd., has made an
arrangement with
dicate from which this company purchased the shares Of the Lake
California.—Official Circular.—Divi¬
Herewith
the syn¬
Superior
Angeles■}
'
remit? check for your dividend No. 204 [being a monthly
distribution of 60 cts. per share, or 7.20% oer annum, to which, thejate,
previously 6% per annum, was raised ih November' 1910].
This brings
the amount<>f cash<dividends paid to date to $13,451,807. 7"
Henceforth dividend, announcements witt-be made semi-annually, Jan.
and July.
Monthly dividends are not only expensive for a large company/
to handle, but they place a fixed load upon the company regardless of com¬
mercial and financial conditions./ Discount rates here and abroad have/
gradually been growing higher since last fall, and it is apparent that money
will not be available at ordinary rates of interest for some time to come*.
Your management therefore, feels it a duty to avoid as -far as possible the,,
borrowing of funds, at prevailing rates, and an equal duty to;conserve and.
we
,
increase our
liquid assets to safeguard against contingencies.
Producers' Oil
Dividends ot
Transportation Go. and Newlove Oil-Co. remain quarterly.
was never in better
physical condition^
The growth iuj4
The property
the volume of business for the past four years has taxed our facilities tothe utmost, and in spite of general conditions in many lines of ?trade, oury;
sales and
collections continue to Increase.
Production, and sale of both
crude, refined and manufactured products are growing in proper ratioOross Sales for
Half-Years ending June 30 (Compare V. 97,
p. 116)*
19131912.
1911.
'
1910«
$9,700,753
$7,768,902
$7,379:291
$4.945,986:
Drilling operations steadily continue.
A< new well has been completed
since July 1 on the Newlove property and is producing at the rate of1,000
bbls. per day of high-gravity oil.
Other wells are approaching complex
tion, with every indication of substantially increasing the company's pro¬
duction.;
New contracts for;the sale of oil are constantly being made at/
satisfactory prices.* We have recently delivered a large quantity bf fuel Oil
to one of the first-class steamship companies engaged in trans-oceanic/
passenger business.—V. 97, p. 242.
United States Steel Corporation.—Bonds Called*—
1st M, 6s of the Johnson Co. have been drawn»
Ninety-seven ($97,000)
of U> S* Trust, Go.,
'
.
laws
OtiS;
of
July 18, Pres. Lyman Stewart says in substance:
United States
—
should be sufficient for the purpose.
It1 is expected that the readjustment will be accomplished through the
company,
—
payment at 105 and int. on Sept./1 at the office
N, Y.. trustee/--V, 97, p. 295.
'
25%-$500.000
To provide the moneys required for the readjustment of the principal of
the present bonded debt, it is proposed to sell, on terms to yield not less
than 85 net for the bonds, all the 1st M. bonds to be presently issuable
under the plan, viz.: $2,000,000 thereof, and, if found necessary, part of
the $1,500,000 new com. stock not required for delivery to holders of exist¬
ing com. stock; $750,000 new pref. stock and such new com. stock not so
sold are to, be exchanged in
payment of the secured notes.
The interest
on these notes, as well as on the present outstanding 1st M. 5% bonds. Is
to be paid in cash; to Nov. 1 1913, or to the earlier consummation of the
readjustment: the cash resources of the new company, it is estimated,
—_
—...
1,309,300
1,068,000.
1,300,886; 2,796,187'
surplus.... 5.271,120;' 5,072,058$
payable—.
for
-
—25%-$250,000
stock. $2,000,000
-.
Union Oil Co.
New Com. Stk.
—
1,806,000
bonds
dends to Be Semi-Annual.—Ina circular dated at Los
Terms of Exchange for Old Securities If Deposited.
Outstanding—
1st M. 5s, $2,593,000..65H%-$l.698,415
do Int.from May 1 '13 Par (see below),.
1.200.000,,
-20,564,308 19,136,245 / Total .......—20,564,306.. 19,136,245
-V. 96, p. 841, 7*94/
/":
Total
Colorado-
Power. Co .—Plan of Readjust¬
ment.-r-The reorganisation committee^ consisting of Albert
Mi Chambers and Albert Rothbarth', with John Seagar,
37 Wall St., as Sec., has issued a plan of readjustment under
whieh< holders of 1st M. 5s (with coupons maturing after
$
9,000,000
Bonds"under cos/'
—V. 96, p. 1493* 1367.
Northern
Dec.31 '12.
Liabilities—
Capital stpek— ,.10.000,000,
Old bonds ..—
877,000
Acc'ts
Total.
share¬
of
Paper Co., Ltd., being a "bonus amounting as nearly as possible without
adjustment of fractions to 10% of your holdings of the pref. stock on July
3,311,700!
3,537,522
common
holders of the Spanish River Pulp & Paper Mills, of record July 28
1913,
Bonds assoc. cos..
—.
xcyii.
$900 ,000 of the common stock of the Spanish River Pulp & Paper Mills
received by the syndicate on the sale of the shares of the Lake Superior
$545,588
75,861'
on
[Vol.
Worsted Co,—See page
370;
Virginia-Carolina* Chemical Co., Richmond* Va*—
Report.—See "Annual Reports" on a preceding page.
No Dividends on Common.t—The directors on Aug. 5 foi/r
mally decided to omit the semi-annual (dividend; (recently;
1H%)» ordinarily payable Aug. 15 on the ($27,984,400);
>
common
stock.
See V. 96, p.* 1845.-/
Walpole (Mass.) Tire; & Rubber Co.—Receivership.—.
Judge.Dodge in the U. S. District Court at Boston on Aug* 2}
appointed Robert C. Fisher of New York, now residing in
Walpole, receiver of the company on application by Receiver
Curtis of the Atlantic National Bank of Providence, holder
of claims aggregating $121,570, the company assenting.
Application of creditors for the appointment of a co-receiver,
will be heard to-day.
.•
A balance sheet of June 30 1913, submitted with the
receivership petition;,
showed total liabilities of $1,353,359 (including accounts payable, $258,705;
payable, $847,800; contingent liabilities of $190,595, &c.), and assets.
aggregating $4,126,635, notably, "plant," $1,230,815; patents, good-will,
&c., $1,312,419: merchandise inventories, $863,998; treasury pref, stock,
$103,000, &c.
On Aug. 6 the receiver reported the total claims as $819,421,
viz.: Due banks and bankers on notes, $289,514: merch. creditors, $167;747merch. creditors on notes, $362,160.
The cutting off of bank facilities due,
to the failure of the Atlantic National Bank, it is stated, precipitated the
receivership.
See V. 96, p. 1428,. 1707: V. 97. p. 181.
Stockholders' protective committee: Clare H. Draper, Edward L, Belding and John C. Heyer.
Depositary, Federal Trust Co., Boston.—V. 97,
p.
181.
notes
Wells, Fargo & Co.*—Reductions Ordered.—The Californiaon Aug. 1 ordered a reduction in express
rates of the company on traffic in that State, to be put into
effect on Oct. 1, amounting, it is estimated, to about $750,-,
RR; Commission
000
a
year.
*
The Commission finds that upon an investment in
that State of $613,234
the company has been receiving a return of $842,097 a year/or 136%, and.
the reduction ordered is on the basis of net earnings of 10%, or $61,623
See also "Express Rates" above.—V. 95, p. 1270.;
For other Investment News
see
page
379.,
AUG. 9
>r
r
371
CHRONICLE
THE
1913.]
—J
[Advertisement]
LEH1GH VALLEY RAILROAD COM PAN Y.
-
V
■
'
'
'
'
'
,
•
'
'
1
•
-
Philadelphia, August 6 1913.
ojihe. Lehigh Valley Railroad Company.,
The Board of Directors herewith submit'the annual re¬
port o£ the business and condition of
fiscal year ended June 30 1913.
your
Company for the
A
'
.
MERCHANDISE FREIGHT.
11,98 per cent, as
or
.....
-1
compared with the preceding
year,
The percentage /of revenue derived; from, the transporta¬
tion- of merchandise freight was 37.96per cent of the total
i
operating revenues* a decrease of 1.58 per cent .
;
mileage owned or. controlled, and operated
by the, Lehigh Valley Railroad Company* the. main line of.
"which is double tracks extending, from Jersey City, N. J.,
to Buffalo and .Suspension.Bridge, N# Y^, is as follows:
;
The tonnage moved j excluding Company's material,
14,472,389 tons, an increase of 12.66 per, cent.
The, totaLrevenup
/
frppi both coal and-merchandise freight
an; increase, of $5^32,582 26, orj 18.$$
cent r as. compared with the, precedpag-twelve months,
The entire/freight traffic amounted/to 32,367,79b tons*
was
Lehigh Valley Railroad Company-------———.317.16
CJontroUed by ownership of entire capital stock:
—T—
934.87
•Controlled by ownership'of majority of capita stock and lease.—
115.37
$36,725,13& 06,
per.
1
incr^ape of;4:,354,496tpnsr or.15^54 percent.
2773
an
operated (owned or controlled)-—.——1,395 13
Trackage.rights oyer railroads owned by other companies_— ' 43.77
an
-j .^
was
GENERAL FREIGHT-
Miles.
_
<
The revenue received from the transportation of merchan?
idise freight was $16,339,748 97, an increase of $1,748,509141 #
MILEAGE,
The first track
Operated under lease--—
'
FISCAL YEAR ENDED JUNE 3p 1913.
FIFTY-NINTH ANNUAL REPORT—FOR THE
To the Stockholders
-
.
Total mileage
The
Total first track mileage-———
—------—-1,438-90
miles.,
average/haul, wra^ 179,57- mile?,
or.
increase-
sn
5.13.; pen cent/
Ig, addition, to the .a,hoye.; there are 5p6.05; miles* or;4I/.42
per^cenW'of seconds tfackf 92,34 nailear of: tlurd track, 44.84;
miles,of( fourth, trackand, l,182.70,indesotyardi tracks .and. 2.88 .percent,
sidings. a, to tal of.3,354.83.miles of trackf in-.operation at. the
oft the/year. A, detailed, statement, oL track; mileage .is to
shown on pages 47 to, 49; [pamphlet report].
The? average* cent.
number of miles of railway operated for the yeas was 1*450-97*
The total freight train mileage was 9,703,311 miles*
upphwhiph the mileage statistics in certain/tables submitted inerease; of, 1,250,333 miles, or 14.79. per cen,t.,
this report
are
based,
am
revenue* received per freight, tram mile, was S3 78*
increjase.of,$Q 13, or.3.56 per cent.
The average trainload^of revenue freights wa&599,01 tons#
an increase of 32v93 -tons, or 5-82 per cent
Ineluding Com^
pany's freight, the? ayemgo > trpmlbadc was/ 630.7* tons* an,
mcrease>of/33.2Q,;t9ns,ior, 5.65 P,er; cent..
The,
Spveral cbianges have been made.iathe mileage heretofore
shqwn* under trackage rights on lines of other, companies,
the principal items being the elimination of first and second
ti$ck, mileage between.West. Newark Junction* /N. J,, and
Jersey City, Ni J,, by reasomof the cancellation oftheagreement 'witn,. thCr Pennsylvania, Railroad Company for the
an
,
,
V
running^of. passenger trains into their/Jersey* City tormina'
the/ omission "of, certain mileage, over, the^Niagara^ Falls,
Branch of the New Yorl(
^.Centrat
HudscmRiverr Railroad,
Company at Nprth Tonawanda/ N. Y.', and tbeonnssioii
ofl mheage on? lines; of the,Pennsylv^^R^frpad Company,
PASSENGER*
.
The
earnings from passenger traffic amounted to $4j-.
867,554 03, an< increase oL $163^0'5li or^ 3»48 per cent*
~
the preceding yea&; ; '
*
Tho tptal number of passengers carried, was 5,518*524* an
increase bf
^76, p^,3t.15 p^cenW
"The number of passengers carried,
mile; increased
6,695,049, or 2.53rP©r^ cent.
'
PaJ. , oyer which t|iis.Company has .ceased runqingits; trams*
The average revenue.per passenger was 88.20 cents, an
Theshldh^nctiohs'{ai:d partially offset by the- ACQuisitidn/ of- increase bf-.2®centi
or^^.3^perceht^ T
tra^ldljge^rigiits over* the line?. of the Central jRadl^oad Com¬
T^ie- average- reveniie per passenger per mil6 was 1.792'
pany of New Jersey between Oak Island Junction* N. Jfn
cents, an increase of .017 cent, or. .96 per cent-,
anci Je£s?y CRy* N*J.» apd* i%cpnnectio$^
The average 1 distance traveled - by • eaehi passenger was
of minor, importance^ 6howf ameKdecriease, of 15J54 mile^of
'49*23 milesv a^decrease of 1.30'mile* ojfi .611 per cent.
Passenger train mileage was 4;491,013', a decrease of 32,407
miles, or .72 per cent* as comparediwith an increase in this
revenue of,3.4$; per. cent r.
twr$ a^d. Jpurth-track. system
The average revenue ffom passengers- peri passenger train
mile was 108.38 cents, an increase^of 4.39 cents, or 4.22 per
OPERATING REVENUES ANI) EXPENSES,
/
,
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'
The following statement sets,forth thngrps? revenues apdj cent..
over
•,
„
-
.
'
;
MA1I».
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.
For the
witit, similar, figures, for theiiscalyear 1912.
income j account appearson a ,fodowing ,page,
transportation of United Statpa mails the Federal;
The complete Government paid the sum of $191,821 ll, an increase of
$117 37.
From—
1913.
1912.
Increase„
,072 85
,50941
,»2Q 51
Mail
Express.
Other transportation....
Miscellaneous
____
191,703 71
471.957 22
379,919 42'
266,065 51
191,82111
_____
__
506,191 11:
;
-
415,731 71
336.93$ 87
___
Total operating revenues__$43,043,371 89 $36,905,935 21
35,812 29
70.870 ??
Maintenance, of. way
expenses—
—
General expenses.;
13,993,617 35
875,651 45
Increase.
980,116.82
12,606,961 58
856,265 53
2,740.84
1.386,655 77.
19,385 92
T9tal operating.expenses-$2?,107,(819 57 $24,720,249 81 $4,387>569 76..
Net operating revenue
$13,935,552 32. $12,185,685 40 $1,749,866 92
of
operating expenses
to Operating revenues.
67.62%
66.98%
'
.64%
OPERATING REVENUES*
COAL. FREIGHT.
The transportation of coal and, coke
produced a revenue
of $20,385,389 09, an increase of $4,084,072
85; or 25.05 per
cent* as compared with the preceding, twelve months.
The. percentage of, coal freight revenue to total
revenues was
operating
incregse of 3.19 per cent.
transported, excluding.the Company's
47.36 per cent*
The coal, and coke,
supply coal,
an
was 17,895,407 tons, an increase of 2,728,554
tons, or 17,99 per cent.
This class of tonnage was 55.29 per cent of the total
tonnage
hauled during the year, anincrease of 1.15 per cent.
this, class, of. business amounted to
$50^101; Hi an?inereasp of $34,233 89^
OTHER TRANSPORTATION.
;
uhden the preceding
headings^were' $415^731 71'*
of-$35^12 29:
an
increase
1
MISCELLANEOUS.
crease
$3,963,589 12 $1,730,833 12
6,313,316 76
1,247,954 11
^afHoexpehsea.982,857 66.
Ratio
The., revenue! from
Miscellaneous
1912.
"
revenue
amounted to $336,935 87,
of $70,870 36v
OPERATING
an
in¬
v..-' 7'-
-Vv
and
structures;
$5,694,422 24
Maintenance of equipments.
7,561,270 87
Transportation
:
$6,137.436 68
OPERATING EXPENSES.
1913.
\
117 37
34,233 89
"
]'
'
EXPRESS.
GROSS OPERATING REVENUES.
EXPANSES;
MAINTENANCE OF'
WAV;
.
-
•
.
The
expenditures- for the maintenance of way and struc¬
tures amounted to $5,694*422 24, an increase of $1 *730,83312*
or 43.67j per cent* as compared with the
preceding year.
Seven steel/ bridges and one concrete steel bridge were
built in connection with additional track construction:
Six¬
teen steel bridges and* nine concrete steel bridges were placed
in the track, replacing light; steel'or wooden bridges,, and
twelve steel bridges were strengthened.
Nineteen bridges
were replaced by culverts and five small
bridges were aban¬
doned and the. openings filled-'
Two new steel highway
bridges with, solid floors and one steel foot bridge were erec¬
ted.
Two' wooden highway bridges were replaced by steel
structures and one steel highway, bridge was renewed.
One
wooden highway bridge "was replaced by a culvert.
13,560; tons of 110-pound rail, 50,823 tons of 100-pound
rail and 602 tons,of 90-pound rail, together with necessary
frogs* switches, etc., were placed in the track.
1,425,328 tie plates and 688,109 anti rail creepers were
used.
948,864 cross ties, 2,5QO,803 feet B. M. switch ties,
,
,
372
THE
CHRONICLE
836,968 feet B. M. bridge ties and lumber amounting to
5,578,645 feet B. M. were used.
569,441 of the cross ties, 1,790,798 feet B. M. of switch
Eight tracks, with
capacity of 248 cars, were added to
Additional sidings of thirty-six and
thirty-four cars capacity were laid at Catasauqua and Sus¬
pension Bridge, respectively.
Tracks in Coxton Yard were
remodeled and extended, increasing the capacity by
twenty-
ties and 778,038 feet B. M. of
bridge ties were treated with
nine
track.
wires
the system.
on
maintenance
The
of
equipment.
of
$7,561,270 87 was expended for the mainten¬
ance of
equipment, an increase of $1,247,954 11, or 19.77
per cent, over the preceding twelve months.
Included
therein is a charge of $1,144,007 97 for the depreciation of
equipment, as called for in the accounting system prescribed
by the Inter-State Commerce Commission.
Forty-seven passenger coaches and five combined passen¬
ger and baggage cars were converted into workingmen's cars,
three postal and eleven combined baggage and mail cars into
express cars, one dining-car into a business car and one
hundred and ten produce cars into ice cars.
Eleven passen¬
ger coaches, two combined passenger and baggage cars and
sum
thirteen box
cars
were
transferred
caboose
to
service and
forty-five freight equipment cars to road service.
Sixty-seven worn-out locomotives, nine passenger coaches,
four combined passenger and baggage
cars, four combined
baggage and mail cars, one fruit car, 901 freight equipment
and 161
cars
sold
s
road service
cars
were
condemned and either
destroyed during the year and their value written off
the books by "appropriate charges
through operating expenses.
Eight hundred locomotives received heavy and general
repairs.
'
481 passenger equipment cars received
heavy repairs, 382
were painted and varnished and 51
equipped with electriclighting apparatus.
Steel underframes were applied to
2,962 wooden freight cars, making a total of 10,593 cars so
equipped during the last five years.
22,476 freight equip¬
ment cars received heavy and
general repairs.
or
,
.
.
The total number of locomotives
on
hand at the close of
the year was 903, * with a tractive power of
27,655,900
pounds.
The total number of freight equipment cars was
43,818,- with a capacity of 1,585,192.5 tons.
traffic
expenses.
r-
The
expenditures under this heading amounted to $982,857 66, an increase of $2,740 84 as
compared with the pre¬
ceding twelve months.
•
fc
transportation expenses.
The cost of
an
conducting transportation
increase of $1,386,655 77,
preceding
was
11.00
per
$13,993,617 35,
cent,
over
the
revenues was
of
transportation
32.51 per cent, as
total operating
compared with 34.16 per cent
expenses
to
'
general expenses.
'
•
,
This class of expenses amounted to $875,651" 45,
per cent of the total operating revenues.
"
'•
or
ADDITIONS AND BETTERMENTS.
year there was expended for the acquisition of
property and for the improvement and development of
existing .property .the sum of $6,507,721 40, which was
charged to Additions and Betterments.
A classification of
new
expenditures, as required by the Inter-State Com¬
Commission, appears on page 44 of pamphlet report.
important expenditures are here specifically re¬
more
ferred to:—
equipment has been purchased and added to the prop¬
erty during the year as follows: Fifty-one freight locomo¬
tives, one passenger locomotive, fifteen switching locomo¬
tives, six locomotive tenders, three steel library buffet cars,
one thousand steel underframe
refrigerator cars, one caboose
car, four locomotive cranes, eighty-eight steel undername
pneumatic dump cars, one scale test car and one derrick car.
Orders have also been placed for thirty-eight
freight loco¬
motives, five passenger locomotives, fifteen switching loco¬
motives, seven locomotive tenders, one thousand steel undercars
third
•
•
v
;
Additional freight delivery tracks with paved
driveways
were constructed at Irvington and at New Brunswick
Ave¬
nue, Perth Amboy, and the driveways leading to the coal
trestle at Bound Brook and the
driveways at the team tracks
were paved.
In order to conform to the grade
established by the city of Jersey City, it was
necessary to
raise and repave the driveways and also raise the sidewalk
and tracks at the Grand Street freight
station, Jersey City.
A "Y" was constructed at Tannery, to
permit of
at Pittston
turning
large Mikado engines, and the curvature of the "Y"
at Fairview is being reduced for the same
purpose.
A change was made in the location of the connection from
the
the main tracks to the coal
shipping trestle and yard tracks
crossing at grade of
at Canastota in order to eliminate the
six tracks of the New York Central & Hudson River Railroad.
Notice having been served by the Pennsylvania Railroad
Company, effective May 1 1913, terminating the contract
giving this Company the right of trackage from Newark east,,
including the use of its passenger terminal facilities at Jer¬
sey City and Cortlandt and Desbrosses streets, New York,
were made with the Central Railroad Company
Jersey for trackage east of Oak Island Junction and
the use of its passenger terminals at
Jersey City and New
York.
In connection with this change, a brick
passenger
station was constructed at Newark, the tracks between
arrangements
of New
Parkview and Oak Island Junction
with
stone,
and
were
rebuilt and ballasted
terminal
yard, including a
heating system, air-compressor plant and other neces¬
facilities, was constructed at Johnson Avenue, Jersey
a
passenger
steam
sary
City.
■
An extension of the Seneca Falls Branch for
5.7 miles eastward to
a
a
distance of
connection with the New York Cen¬
tral & Hudson River Railroad
was
begun during the
year,
and
agreement entered into with that company granting your
Company trackage rights to Cayuga, a distance of 2.2 miles
where a connection is made with your line.
an
Substantial progress has been made in the
development of
and freight terminals at Buffalo, located
on Main and
Washington streets, respectively.
The work of
clearing the site is under way, and the proposed changes in
viaducts and streets affected by this work have been
ap¬
proved by the city authorities.
Plans for the station build¬
ings are now under consideration with the Terminal Com¬
the
new
passenger
The reenforced-concrete grain-storage elevator at the Na¬
tional Docks Terminal, New York Harbor, referred to in
coal-unloading plant for the trans-shipment of coal
to vessels at Perth Amboy, mentioned in last
year's report, is now in operation. *
•
"
Heavy repairs were made to the coal-shipping trestles at
Tifft Farm and North Fair Haven, and at the latter point
a number of pockets were raised to
permit the loading of
larger boats.
The ore dock at Tifft Farm has been rebuilt
for a distance of six hundred feet. 'Two additional largecapacity steam cranes are being installed at that point for
the handling of rails, ore and pig iron, which will enable
more prompt despatch of vessels. >
'
';
An ice-house of 10,000 tons capacity, with modern machin¬
ery for handling and crushing ice, was built at Sayre, and
smaller ice-houses were constructed at Perth Amboy, Easton
and Lehighton.
The ice-houses at Clinton and West Portal
and freight office and platform at Geneva freight station were
from
cars
.
extended.
New
The
Florence Yard.
t
#
Taxes.
on
During the
frame box
capacity
cars
The
2.03
your property, capital and business
during the year amounted to $1,609,151 39, an increase of
$157,840 22 over the preceding year.
The
Additional tracks of two hundred
Florence, referred to in the preceding report, were com¬
pleted.
Work is now under way at that point to provide
room
for the construction of a switching lead from the
.
.
'
The taxes accrued
merce
cars.
at
the last annual report, is practically completed and will be
in operation at an early date.
*
last year, a decrease of 1.65 per cent.
these
a
mission of Buffalo.
year.
ratio
The
or
xcvii.
the yard at Richards.
creosote.
90,274 cubic yards of crushed stone were used in ballasting
46,004 feet of drain tile were placed in the roadbed.
6.33 miles of new telegraph and
telephone pole line were
erected, 52.72 miles rebuilt and 33.75 miles reset.
1,164.40
miles of copper and 99.85 miles of iron wire were used in ex¬
tending and renewing the telephone, telegraph and signal
[Vol.
and
track
one
was
thousand steel coal
extended
from
cars.
Three
Bridges to
Stanton, a distance of 5.52 miles, from Stafford to North
LeRoy, a distance of 4.87 miles, and a further extension
from North LeRoy to
Pittsburgh and Lehigh Junction, a
distance of 4.98 miles, is under construction.
Third and
fourth tracks were extended from South Somerville to
Flagtown, a distance of 4.98 miles, and from Parkview to West
Elizabeth, a distance of 1.03 miles.
These extensions will
A concrete and steel transfer platform of two hundred cars
capacity is in course of construction at Manchester.
By
concentrating the.work atdJiat.point, the transfer platform at,
Dingen Street, Buffalo, where operations "are conducted at
a disadvantage, will be
abandoned,1 and the work at Sayre
and other points will be reduced.
To replace a shed destroyed by fire several years
ago, a
single-story freight shed of steel and corrugated iron construc¬
tion was built on Pier "B," Jersey City.
Pier "C," Jersey City, was equipped with an automatic
fire alarm system, and Pier 66, New York, with an auto¬
matic sprinkler system.
In order to expedite the movement of
freight, fifty elec¬
trically operated freight trucks have been placed in service
at the Lake Freight House, Buffalo.
A steel and concrete
garage was built and necessary charging apparatus installed.
Fifty-five gasoline motor cars were purchased for the use
of section, bridge, signal and telegraph
gangs, making a
total of eighty-one of these motors now in service.
Two electric derricks of two tons capacity each were in¬
.
greatly facilitate the movement of freight and avoid yard
congestion.
95,779 feet, or 18.14 miles, of Company's sidings and 36,010
feet, or 6.82 miles, of industrial sidings were constructed
during the year.
A westbound
passing siding, 1.32 miles in length,
structed at Scottsville.
•
was con¬
stalled at the team tracks at Rochester and
crane was erected at Portland.
a
twenty-ton
transfer
•
A coal conveyor was
installed at the boiler house at Easton
shops and pneumatic ash conveyors, for the handling of
locomotive ashes direct to cars, were constructed at Mount
Carmel, Weatherly and Wilkes-Barre.
...
'
•
Aug. 9
THE
1913.]
A water station
was
CHRONICLE
installed at Flax Mill, together with
concrete-lined reservoir having a capacity of 225,000 gal¬
lons and supplying two 12-inch water columns.
A new
a
gravity water supply has been completed at Hays Creek,
concrete-lined reservoirs of 40,000 gallons and 275,000 gal¬
lons capacity having been constructed and two 12-inch water
columns erected.
To replace worn-out wooden tanks, steel
standpipes of 70,000 and 212,000 gallons capacity were erect¬
ed at Lodi and East Buffalo, respectively.
A 100,000-gallon
steel tank was installed at Johnson Avenue, Jersey City.
New 12-inch water columns were erected at Trenton, Man-
ville and Hazleton ash track.
A
mechanical
interlocking plant of twenty-eight levers
constructed at Tannery to operate the switches and sig¬
nals governing the connection between the main line and the
was
Hays Creek Branch.
A similar plant of nineteen levers
was
installed at the west end of Oak Island Yard, controlling the
connection of the yard tracks with the main line passenger
tracks at that point.
New mechanical interlocking plants
installed at Three Bridges, Richards and Treichlers;
consisting of twenty, sixteen and twenty-four levers, re¬
spectively, to operate the switches and signals at the ends
were
of the third and fourth track systems.
The disc automatic signals between
nals
were installed between Ackerman and Tannery on the
Hays Creek Branch.
Thirteen audible and visible crossing
signals and one audible crossing signal were installed at high¬
way crossings.
The entire main line of your road is now equipped with tele¬
phone train dispatching lines, the circuit between Manches¬
ter and Buffalo, referrred to in last year's report, having
been completed during the year.
In addition, the branch
line extending from Elmira to Camden was similarly equipped.
One hundred and thirty-nine portable telephone sets were
installed on passenger and. freight trains.
Telegraph and telephone lines were rebuilt for a distance
of 8.3 miles on the Mahanoy and Hazleton Division, 6.4
miles on the Wyoming Division, 20.8 miles on the Auburn
Division and
w^ere
reset for
16.37
a
miles
the Buffalo
on
Division.
distance of twenty-one miles
Division and eleven miles
on
on
Poles
the Wyoming
the Auburn Division.
FINANCIAL.
,
;;'::Y''Y:'Y
capital obligations have been issued and sold
by your Company during the year, the resources having been
sufficient for all expenditures.
In fact, the capital obliga¬
tions have been reduced by the sum of $2,015,000, as follows:
\
Description—
.
_
Equipment Trust, Series J, Certif's
Equipment Trust, Series I, Certif's
Mortgages on Real Estate..-
Interest
Rate.
4%
4}4 %
4%
5.4%
Total
'
Maturity.
Amount.
Aug. and Feb.
$1,000,000
Sept. and March
500,000
September
400,000
December
115,000
...
.<—I.—,..82,015,000
The retirement of these
obligations, all of which were out¬
standing excepting Equipment Trust, Series I, Certificates
held in the treasury, reduces the fixed charges of the Com¬
pany $68,710 per annum.
An additional Equipment Trust, known as Series K, au¬
thorizing the issuance of $1,500,000 Four Per Cent Certifi¬
cates, was created and is a lien upon one thousand steel
underframe refrigerator cars, thirty steel passenger coaches
and twenty steel smoking coaches.
These certificates ma¬
ture in semi-annual installments March 1st and September 1st
each year, the last installment falling due September 1 1917.
$150,000 matured March 1 1913 and were retired.
The re¬
mainder, $1,350,000, have been placed in the treasury and
are available for sale or other use as the
necessity may arise:
The subsidiary companies owned by the Lehigh
Valley
Railroad Company, to which it made cash advances for ex¬
penditures to cover additions and betterments made during
the past year to their respective properties, have reimbursed
your Company by the issuance of Fifty-Year Five Per Cent
Gold Debentures, as follows:
Lehigh Valley Railroad Company of New Jersey..
The Lehigh Valley Rail Way Company
National Storage Company.
Pennsylvania & New York Canal & Railroad Company
Lehigh Valley Transportation Company.
Loyalsock Railroad Company
$809,000
717,000
580,000
253,000
' 66,000
3,000
...
These securities have been deposited with the Trustee of
the General Consolidated Mortgage as
required thereby.
Your Company has also received and
placed in its treasury
$157,000 Wyoming Valley Water Supply Company Five Per
Cent Bonds in reimbursement of advances made to that com¬
pany
for capital expenditures.
Additional advances
were made to
subsidiary real estate
companies in the sum of $151,499 44 to cover the purchase
of land for the improvement and extension of terminal and
other facilities.
It has been the
policy of
your
afforded, to reduce the number of
During the
Company,
as
opportunity
its subsidiary companies.
the Jersey City Belt Line Railway Company
Bay Railway Company were dissolved.
Those companies were organized in 1890 for the
purpose of
constructing certain branches in the vicinity of the Jersey
City Terminal.
These branches have now been projected
by the Lehigh Valley Railroad Company of New Jersey,
which obviated the necessity of
maintaining the former two
and
the
year
Newark
corporations.
property.
It has been the practice in each of the five pre¬
ceding years to reduce the value of this property by a similar
amount.'
,
Working Assets are $32,277,506 91 in
Liabilities.
excess
of Working
;
■
„
Semi-annual dividends of five per cent each were declared
in December 1912 and June 1913 on the preferred and
common
in
capital stocks of the Company, payable respectively
January and July 1913.
comparative
For
the
Income
;
it has been
purposes
Account
for
the
necessary
to
re¬
1912, appearing
on
a
later page, owing to the fact that the Inter-State
Commerce Commission issued an order, effective July 1 1912,
requiring certain changes in the accounts "Taxes," "Other
Income" and "Deductions from Income."
I
state
year
be observed that under
the heading "Rentals of
Guaranties," appearing on page 29 [of
pamphlet report], the guaranteed dividends on the preferred
and consolidated stocks of the Morris Canal & Banking Com¬
pany are not shown for the year.
This for the reason that,
under the accounting classification of the Inter-State Com¬
It will
Roads
merce
and
Commission,
the
same
are
included in the Income
Account in the item "Miscellaneous Deductions."
The
ren¬
tal which this Company has been paying for the use of cer¬
tain tracks owned by the State Line and Sullivan Railroad
Company and the Raritan Terminal & Transportation Com¬
pany is this year included in the statement "Rentals of
Leased Roads and Guaranties" in order to bring the same into
harmony with the rules of the Inter-State Commerce Com¬
mission.
The accounts of the
Company for the year, including the
security balances, have been examined and verified
by certified public accountants, their certificate as to the
correctness of the same appearing on page 19 [of pamphlet
report].
'
,•
•
• •
:
cash and
,
.
iV;,
.
Y-Y GENERAL REMARKS.'
-AY Y:'
.
It is
No additional
Collateral Trust Bonds.
The book value of the capital stock of Coxe Brothers &
Company, Incorporated, was reduced by the sum of $1,000,000, Profit and Loss Account having been charged with
$980,362 28, the balance being charged to a small deprecia¬
tion fund, which latter was thereby extinguished.
This re¬
duction fully offsets any depreciation in the value of that
Leased
South Somerville and
Phillipsburg have been replaced with three-position upperquadrant automatic signals.
Three-position automatic sig¬
373
gratifying to observe that the operating revenues of
the Company show a healthy growth as compared with pre¬
vious years.
It should be borne in mind, however, that the
considerable increase in earnings over those of the preceding
year does not reflect a normal increase, since in that year
the revenues were greatly reduced by reason of the suspension
of mining in the anthracite coal fields for the months of April
and May pending negotiations for a new .wage agreement
between the mining companies and their employees.
"Lhe increase in operating expenses is due to the higher
rates of wages paid to labor in all branches of the Company's
service, to the prevailing high price of materials and supplies,
to liberal appropriations for the maintenance of roadway and
equipment and as well to the added expense of handling an V
increased
volume of traffic.
v
'
.
The attention of the
Company's stockholders is particu¬
larly called to the tax accruals, which are every year showing
a steady increase and now amount.to 3.74
per oent of the
Company's gross operating revenues. In the last five years.
taxes have increased 43.31 per cent,
whereas the gross
operating revenues have increased but 21.21 per cent.
A
further serious burden, which is reflected in the cost of trans¬
portation, is the wages of the additional men that are now
arbitrarily required on trains as a .result of the legislative
.
enactment of the so-called 4 'Full Crew Billswhich have been
passed in the States of New York, New Jersey and Pennsyl¬
vania. '
'
Y;:
The
floating equipment of the Lehigh Valley, Transporta¬
tion Company, the capital stock of which is owned by your
Company, has been fully maintained.
One steel tug and,
two steam hoistiiig barges were purchased and received dur¬
ing the year.
In addition to the foregoing, contracts have
been made for two steam hoisting barges and ten covered
barges, five of which will be equipped for heating and re¬
frigerating.
Thirteen wooden coal barges were converted
into^grain boats. One tug and eight barges unfit for further
service were condemned and sold or otherwise disposed of.
The floating equipment used by your Company and its
affiliated companies is set forth in detail on page 46 [of pam¬
phlet report].
Notwithstanding the efforts of your Company, no relief
has as yet been obtained from the Legislature of the State of
New Jersey in respect to the operation of the Morris Canal.
During the past session of that Legislature a bill was intro¬
duced which would have been acceptable to this Company if
passed and which reconciled virtually all the interests con¬
cerned witjh the matter of abandoning the Canal.
Unfor¬
tunately, the Legislature adjourned without taking any ac¬
tion on the bill in question.
However, the Morris Canal
Abandonment Commission, appointed under a resolution
passed by the Legislature at the preceding session, is expec¬
ted to make a report next fall, and there is a prospect of
some satisfactory settlement of the matter feeing made within
the next
The
year.
—
;
operation of the Lehigh & New York Railroad under
the lease made in 1895 has resulted in a loss of $130,710 41
for the year just closed.
A suit, brought by pertain of the
preferred stockholders of that Company against the Lehigh
-
|
I
"
'
THE
374
[Vol.
CHRONICLE
GENERAL BALANCE
Valley Bailroad Company, in respect of tliat operatmn and
the method of accounting for the results thereof, is now
pending.
There were located on the system during the year seventythree new industries, of which sixty-three have direct track
connections with the Company's lines.
The total payments direct to labor for the year amounted
to $17,639,627 77, or 54.88 per cent of the total operating
expenses, including outside operations, the same having
been distributed among an average of 22,800 employees.
The sum of $56,991 34 was contributed by the Company
to its Employees' Relief Fund.
Mr. Fred M. Kirby, of Wilkes-Barre, Pennsylvania, was
elected a director to fill the vacancy caused by the resigna¬
SHEET JUNE 30
Dr.
; ASSETS.
Road and Equipment—
/
Investment to June 30 191)7
Investment since June ,30 1907.,
—
—
xcvii.
1913.
$54,365,714 13
18,494,236 23
„
Less
reserve
for accrued
depreciation—
$72,859,950 36
6!oiO,546 64.
$66,849,403 72
SecuritiesSecurities
of
proprietary
affiliated and
controlled companies—pledged T
..$32,289,451 58
Securities of proprietary, affiliated and
controlled companies—unpledged.
3,981,432 83(
,
.
—
36,270,884 41
Other Investments—
Advances to proprietary,
affiliated and
controlled companies, for construction,
equipment and betterments.$115,797
Real estate
479,785
Advances to subsidiary real estate cos—_
3,208,360
Securities—pledged
27,701,855
Securities—unpledged
8,378,797
tion of Mr. Alfred C. Harrison.
On behalf of the Board of Directors,
...
39,884,597 25
Working Assets—
Cash
.—...$13,149,152 16
Securities
issued
treasury
assumed—held
or
in
17,211,000 00
325,000 00
____
Marketable securities
Traffic and car-service balances due from
JUNE
30
1913 AND
1912.
Operating Revenues—
Coal freight revenue
Merchandise freight
Passenger revenue
.
1913.
$20,385,389
rev 16,339,748
4,867,554
Mail revenue...
191,821
Express revenue
506,191
Other transportation rev.
415.731
Miscellaneous revenue.336,935
163,023 21
companies—
Net
balance due from agents and
ductors..
;
Miscellaneous accounts receivableMaterials and supplies
(+) or
con¬
1,124,512
1,629,152
3,865,345
158,997
......
Decrease (—).
+$4,084,072 85
+1,748,509 41
+163,820 51
+117 37
+34,233 89
+35,812 29
+70,870 36
1912.
09 $16,301,3.16 24
97
14,591,239 56
03
4,703,733 52
11
191,703 74
11
471,957 22
71
379,919 42
87
266,065 51
Total operating rev..$43,043,371 89 $36,905,935 21
'
other
YEARS ENDED
'
Increase
66
93
42
—. _ .
the officers and
employees are thanked for the efficient and faithful services
rendered by them during the year.
E. B. THOMAS, President.
COMPARATIVE INCOME ACCOUNT FOR THE
25
99
:
...
Other working assets
;
38
35
77
81
37,626,183 68
Accrued Income Not Due—
Unmatured interest, dividends and rents
receivable
Deferred Debit Items—
Advances
Rents and insurance paid in advance
Other deferred debit items
+$6,137,436 68
231,719 19
$916,510 70
158,099 71
782,012 85
1,856,623 26
Operating Expenses—
Maintenance of way and
$5,694,422 24
structures..
Maintenance of equip't.
Traffic expenses.......
Transportation
7.561,270
982,857
13,993,617
875,651
expenses
General expenses.
+$1,730,833
6,313,316 76
+1,247,954
980,116 82
+2,740
12,606,961 58
+1,386,655
856,265 53
+19,385
$3,963,589 12
87
66
35
45
Total operating exp..$29,107,819 57 $24,720,249 81
Ratio of operating ex¬
penses to
67.62%
operating rev.
Total
12
11
84
77
92
$182,719,411 51
Cr.
LIABILITIES.
Capital Stock—
1,210,034 shares common stock, par $50..$60,501,700 00
2,126 shares preferred stock, par $50.
106,300 00
+$4,387,569 76
66.98%
Assets—
$69,608,000 00
Fimded Debt—
+.64%
Mortgage bonds.
Collateral trust bonds
Equipment trust obligations
Mortgages on real estate
——$67,639,000 00
13,000,000 00
5,200,000 00
1,669 18
....
Net operating revenue $13,935,552 32 $12,185,685 40
Outside Operations, Net..
*280,210 32
*291,239 44
+$1,749,866 92
+11,029 12
Total Net Revenue.—$13,655,342 00 $11,894,445 96
Railway Tax Accruals....
1,447,205 04
1,312,011 62
+$1,^60,896
Operating Income
+$1,625,702 62
Other In
Hire
..—$12,208,136 96 $10,582,434 34
of"
Equipment,
Traffic
+$214,475 42
+99,944 14
+11,627 85
382,314 16
552,041 07
461,579 45
611,529 97
—$79,265 29
—59,488 90
$2,303,754 60
$2,116,461 38
+$187,293 22
.—$14,511,891 56
$12,698,895~72
+$1,812,995 84
_.
balances
wages
due
Total Income
paid
...—
396,325 50
....
Other working liabilities
977.425 88
5.348,676 77
Accrued Liabilities Not Due—
Unmatured interest and rents payable
Dividends declared June 18, due July 12
1913
-T—
Taxes accrued
•
funded debt
$3,127,360 15
Deductions for lease of
"other roads
2,239,295 00
Joint facility rent de¬
ductions..
3,030,400 00
597,735 36
...—
4,537.091 67
Deferred Credit Items—
Other deferred credit items
1,318,742 47
25,066,231 42
....
Profit and Loss.
-
$3,167,635 15
Total
—$40,275 00
Liabilities
..'....$182,719,411 51
r
,
2,239,295 00
167,062 33
161,946 35
54,399 51
Miscel. tax accruals.._.
Miscellaneous deductions
$908,956 31
—
.—
,
Deductions from Income—
Interest deductions for
$71,027 06
3;715,180 04
188,718 29
unpaid
.........
Total other income...
to
....
$72.257 51
316,599 20
654,495 25
Miscellaneous income.
car-service
Miscellaneous accountsjpayable
Matured interest, dividends and rents un¬
$286,732 93
416,543 34
666,123 10
...
and
other companies
Audited vouchers and
"
Balance.
.
Working Liabilities—
»
Joint facility rent income
Dividend income..
Income from funded se¬
curities
—
...
85,840,669 18
04
+135,193 42
ome—■
......
STATEMENT OF FUNDED DEBT JUNE
153,926 71
139,299 55
185,719 22
3Q 1913
—Interest
+$13,135 62
+22,646 80
—131,319 71
Date of
Maturity.
Description—
Rate
Payor-
%.
ble.
-
Accr'd During
the Year.
Principal.
Lehigh Valley RR. Co.—
Total deductions from
income
—
_
Net Income
*
_
First
$5,750,063 34
$5,885,875 63
$8,761,828 22
—$135,812 29
$6,813,020 09
4
J. & D.
Coupon.—$1,319,000 Dec, 1 1923
Registered... 4,319,000
"
Annuity
.10,062,000
Perpetual
6
6
6
J.
Coupon
$ 1,669,000 Dec. 1 1923
Registered... 3,093,000
"
4^
4J4
4J+
Mortgage Bonds.... June 1 1948
$200,000
$5,000,000
942,000,
15,700,000
Consolidated Mtge. Bonds—
+$1,948,808 13
.
■rj
Deficit.
, _ _
.
PROFIT AND LOSS ACCOUNT FOR YEAR ENDED JUNE 30 1913.
Balance, July 1 1912————
—
Net Income for year ended June 30 1913
Reduction of book value .of capital stock of
Coxe Brothers & Co., Inc
-
5%
11
F. <fc A.
7,300,000
26,639,000
477,470
11,739,000
110,625
2,250,000
*
1926...)
-
M.&S.
*1,669
$3,127,360
Amount of Funded Debt In the Treasury of the Company, viz:—
General Consolidated, Mortgage Bonds
$68,629,669
Various
—
...
Total amount of Funded Debt outstanding..
00
Collateral Trust Bonds..—
00
00
;
Balance brought forward, July l 1913
.!
t
Trust, Series I, 4% Certificates
annually to September 1 1916
Equipment Trust, Series K, 4% Certificates
semi-annually to September 1 1917
Equipment
————
BUFFALO
toj-4
328,500
1,065,660
00,
stock,
Balance, June 30 1913.——
M.&N.
3,205
Mortgages on Real Sstate.
1913——i—
common
1
i" 1j
4
!$500,000 semi-]
-
$5,315
paid
.Jan. 11 1913.3,025,085
5% on preferred stock, due
July'12 1913—5,315
5% on common stock, due
July 12 1913,1
3,025,085
on
2003
$250,000 semi-}
annually, to}4>£
Sept. 1 1917j
oh preferred stock, paid
Jan.
5%
Perpetual
Feb.
.....
11,575 70
•
,
Dividends:
2,538,000
Gen. Consol. M. Bonds..May 1
annually,
$980,362 28
87,5b2 28
.....
Property abandoned.
Miscellaneous adjustments
—
$23,444703 46
761,828 22
Annuity
.
6,060,800 00
25<066,23142
$32,206»531~68
—
*
13,000,000
1,261,000
-
1,600,000
...
maturing
$150,000
1,350,000
'
r___
Total Funded Debt, per Balance Sheet..-.--..
$32,206,531-68
$25,066,231 42
maturing $400,000
.....L...$85,840,669
Principal amounting to $115,000 paid off during the year.
ROCHESTER & PITTSBURGH RAILWAY COMPANY
TWENTY-EIGHTH ANNUAL REPORT—FOR YEAR ENDING JUNE 30 1913.
The Directors of the Buffalo Rochester & Pittsburgh Rail¬
Company submit to the Stockholders the following
report for the year ending June 30 1913:
'
way
J
Owned
Leased.
Trackage
ROAD
...
rights.i.i
.....
Total length of road operated
............
Sidings
Total miles of all tracks, all steel rail
OPERATED.
1913.
Miles.
Second track
1912.
Miles.
1913.
Miles.
194 89
333,59
1,104.94
Increase.
1912.
Miles.
Miles.
2.47
192.42
13.73
319.86
1,082.10
22.84
Increase.
Miles.
360.30
87.29
128.87
356.22
87.28
126.32
4.08
.01
2.55
576.46
569.82
6.64
The increase of road
operated is due to the construction
lines, and an adjustment of 2.56 miles
in leased lines arid trackage rights.
Sidings were increased 13.73 miles.
of 4.08 miles of mine
Aug. 9
THE
1013.]
CHRONICLE
INCOME.
Rail Operations:
Operating revenues
Operating expenses
Brick station at
Increase (+) or
Decrease (—).
+$1,404,878 28
+ 1,201,662 71
$3,281,354 78 $3,078,139 21
+$203,215 57
Jacksonville and Lucerne mine lines.
+$3,777 86
+ 11,150 68
falo Divisions and the Indiana Branch.
Pa.
Lining Indiana tunnel.
Operations:
Revenues
Expenses
Salamanca, N. Y.
Reservoir and pipe lines at Ketner, Pa., and Falls Creek,
1912.
1913.
$10,947,246 06 $9,542,367 78
6,464,228 57
7,665,891 28
Net operating revenue.
Outside
376
$25,581 60
32,946 34
....
Net revenue.....
.
$21,803 74
21,795 66
De/.$7,364 74
•'
$8 08
—$7,372 82
Telephone train dispatching line
Rochester and Buf¬
on
Automatic block signals for fifty-three miles on Roches¬
ter Division.
...
/ ;
"
+
New brick stations were constructed at Warsaw,N.Y.,
#
Total net revenue...
Taxes accrued..,
Operating income
Other income
Gross corporate income._
Deductions for interest and
$3,273,990 04 $3,078,147 29
216,00000
204,000 00
+$195,842 75
+ 12,000 00
$3,057,990 04 $2,874,147 29
1,018,717 73
779,578 22
+$183,842 75
+239,139 51
$4,076,707 77 $3,653,725 51
+$422,982 26
rentals—_—:
1,882,830 84
+66,882 86
$2,126,994 07 $1,770,894 67
+$356,099 40
$1,497 51
448,795 68
$4,564 33
375,000 00
—$3,066 82
+73,795 68
$450,293 19
$379,564 33
+$70,728 86
Surp. available'for dividends $1,676,700 88 $1,391,330 34
+$285,370 54
1,949,713 70
A brick station and Divisional Office
at East Salamanca
Building
was
Pension fund..
Special appropriation.
appropriations
Taxes amounted to $216,000, an increase of
5.88%, due
higher assessments on real estate and increased taxes
imposed on gross receipts, capital stock and loans.
A special appropriation of $448,795 68 was made from the
Net Corporate Income.
Of this amount $125,000 was paid
into the Sinking
Funds under Equipment Agreements
Series A, B and C, of which $5,000 was applied to retire a
like amount of Equipment Bonds Series A, and the balance
became available for the purchase of new rolling stock;
$114,000 was appropriated to retire a like amount of Equip¬
ment Bonds Series G;
$204,000 represents one-half of the
principal of Equipment Bonds Series D, E and F paid
during the year, the other half being refunded by 43^%
Consolidated Mortgage bonds held in the treasury of the
Company; the remainder, $5,795 68, is the interest hitherto
accrued on the sinking fund balances retained in the fund.
to
Among the important work now in progress may be men¬
tioned:
in permanent form.Guthrie mine line.
;
Tearing Run, Coy and Wallace mine lines. ,
Telephone train dispatching line between East Salamanca,
N. Y., and Butler, Pa., a distance of 180 miles.
Automatic block signals for 76 miles, from Gainesville,
N. Y., to East Salamanca, N. Y., and Falls Creek, Pa., to
Punxsutawney, Pa.
New yard near Rochester, N. Y.
New roundhouse and extension of boiler and tank shops
at Du Bois, Pa.
Second track, Rochester, N. Y., to Scottsville, N. Y., a
distance of 11.97 miles.
-
In addition to the
above, many passing sidings, yard and
industrial tracks have been provided to meet the demands of
increased business.
EQUIPMENT.
Expenditures
made for
were
One passenger locomotive
Nine freight locomotives
new
rolling stock
follows:
as
$23,066
207,555
31,069
46,532
'
i
i._..
Three steel combination mail and
baggage cars.
Five steel combination baggage and express cars.—
Four steel coaches.
t.
Five steel passenger and smoking coaches
One hundred steel underframe flat cars
Preferred
stock...
1913.
6% $360,000
6%
630,000
1912.
6% $360,000
5%
525,000
•
$6,000,000
Common stock....* 10,500,000
thousand steel coal cars
locomotive crane hoist
One
DIVIDENDS.
paid on:
were
Increase.
One
$105,000
Four caboose cars, built at
Four work equipment cars,
Steel
Total
,..$16,500,000
$885,000
$990,000
underframes applied
gondola
$105,000
both
cars
side
Steel
76,805
765,597
8,368
2,821
11,110
transfer
of
equipment
on
change during the year in this account;
The total outstanding Capital Stock of the Company
amounts to $16,500,000, and consists of $6,000,000 preferred
stock and of $10,500,000 common stock.
In
FUNDED
accordance with
DEBT.
15,384 03
cars
•
•
CONSTRUCTION.
policy of hiaking liberal appropriations for improve¬
ments has been continued, the expenditures on that account
for the year amounting to $816,020 88, as follows:
to late
•
New station, Warsaw, N. Y
"
and office
building, East Salamance, N. Y
Salamanca, N. Y
Brock way ville, Pa
Stanley, Pa
Station improvements
Reservoir and pipe line, Creekside, Pa
,
"
......
"
......
!.
__
...
......
Water stations
Indiana
tunnel
improvements
Second track, Rochester, N. Y., to
Increased weight of rail, frogs and
Stone
Scottsville, N. Y
fastenings
ballast
Improving bridges and culverts
Telephone train despatching lines
Sidings and yard extensions
...
"
~
"
Jacksonville mine line
~
Run mine line
Guthrie mine line
Fulton
~
""
"
Tearing Run, Coy and Wallace mine
lines.II"II
.
_.
New roadway machinery
Automatic block signals.
Additions to shops, Du Bois, Pa
New shop machinery, Du Bois, Pa
Other items
"
Total..
Credit—Property transferred to
+
lowing page)
Total
f The
Water
Companies (see
.....
a
$91,578
13,873
48,265
37,481
17,398
10,009
86
61
61
98
13
81
18,334 14
29,008 34
13,986 44
29,423 86
115,897 51
87,293 05
11,558 83
138,821 61
37,447 88
117,147 13
100,543 25
7,783 39
32,919 59
35,779 99
12,578 27
136,733 65
26,657 02
25,794 26
34,704 67
$1,231,020 88
fol415,000 00
'.
was
twelve freight loco¬
locomotives, twenty-
delivery will be accounted for in next
*
.
credited for
equipment sold, trans¬
destroyed, the following values,
charged in part to Operating Expenses, and
the
balance, representing the depreciation
since .June 30 1907, charged to Reserve for
Accrued Depreciation:
I'
was
ferred
Seven
or
locomotives.
$44,193 44
2,291 26
;
*
...
Two passenger train cars
Five hundred and sixteen
freight train
Twenty-eight work equipment cars
'
.205,218 46
21,019 82
cars
272,722 98
Making
a net
increase of__
...-$1,152,169 17
-
The total tractive power
of engines aggregates 9,932,893
increase of 310,733 pounds over last year.
The
average tractive power of each engine increased 837 pounds,
being 34,017 pounds as against 33,180 pounds last year.
pounds,
an
The total
carrying capacity of cars in freight service now
708,813 tons, an increase of 40,069 tons over last
year.
The average carrying capacity or efficiency of each
freight car increased 1.03 tons, being 41.26 tons as against
amounts to
40.23
tons last
year.
The
reserve for accrued depreciation of equipment owned
June 30 1913 amounted to $1,644,437 85.
The accrued depreciation on leased equipment, now ag¬
on
gregating $173,424 57, in accordance with the requirements
of the Inter-State Commerce Commission accounting, has
a suspense account
for -adjustment at the
time the equipment is surrendered.
been credited to
PASSENGER
REVENUES.
The gross passenger revenue, the largest in the history of
the Company, amounted to $1,127,612 12, a gain of 6.55
per
cent,
or
$69,351 70.
The average rate received per passenger per
.005 cent, being 2.066 cents as
mile decreased
compared with 2.071 cents
a
year ago.
The average
.67
distance each passenger was carried increased
mile, being 26.98 miles, against 26.31 miles last year.
Passengers carried in 1913
Passengers carried in 1912
2,023,020
1,942,226
An increase of 4.16 per
cent, or
one mile in 1913
Passengers carried
Passengers carried
one
mile in 1912
An increase of 6.79 per cent,
or..,
FREIGHT
$816,02088
following work, referred to in last year's report,
completed:
above,
passenger
69,788 27
$1,424,892 15
a
year's report..
.
Land
the
to
,/
steel passenger train cars, and one loco¬
motive crane hoist, were purchased, but owing
the
The
twenty-five
seven
There
provisions of the Consolidated
Mortgage of 1907, $1,123,000 4H% bonds were issued and
sold, and the proceeds applied to payment of Additions and
Betterments.
The Trustee also delivered to the Company
$204,000 Consolidated Mortgage 434% bonds, representing
50% of Equipment Bonds, SeriesD,E and F, retired during
the year.
These bonds, added to those in the Treasury of
Company, make a total of $1,318,000 held in reserve.
Under the terms of the Sinking Funds for the redemption
of Equipment Bonds, $527,000 bonds were retired, as follows:
$5,000 Series A; $114,000 Series D; $116,000 Series E;
$178,000 Series F, and $114,000 Series G.
Equipment bonds Series G, authorized in 1910, were
issued to the amount of $159,000.
The net result is an increase of $755,000 in the^bonded
debt of the Company outstanding on June 30^ 1913:
and
hundred
betterments,
including re-classification
or
freight train cars and fifty-five work
motives, three
'
•
six
twelve
addition
STOCK.
no
06
48
40,217 56
■
...
applied
V"
In
CAPITAL
,
Company's shops...-—
built at Company's shops
seven hundred and sixty-four
15
12
84
on
payable August 15 1913.
There has been
--—
1
^
stakes
gondola cars
Sundry
other
Since the close of the fiscal year your Board of Directors
has declared a semi-annual dividend of three per cent on
the preferred stock and three per cent on the common stock,
—
92
79
84
20
55,975 46
70,599 43
—
'
Dividends in cash
built
N. Y.
Replacing various timber bridges, trestles and culverts
Net corporate income..
Appropriations:
Total
Brockwayville, Pa., and Stanley, Pa.
80,794
54,573,203
51,101,188
;
-
The average rate received per ton per
.19 mills being 4.61 mills as compared w.th
year.
v
'■
3,472,015
*
REVENUES.
mile decreased
4.80 mills last
•'
,
-
376
THE
CHRONICLE
The average distance each ton was hauled increased 4.04
Tniles, being 163.35 miles, against 159.31 miles a year ago.
The
revenue
tonnage moved
Allegheny &
1913.
coal
Ooke
HIron
593,447
781,201
310,374 "
2,825,382
_
ore..
7,188,280
■
—
Sidings and spur tracks
Branch, Craigsville, Pa
Terminal
'
12,490,608
Tons moved
one
mile in 1913
one
mile in 1912
under
Sidings and
spur
tracks
gain of 15.13
_
5 500 20
14[505
—
Installation of telephone train
Water and fuel stations
89
4,434 06
4,286 23
693 17
despatching system-.
—
cent, or
per
revenue.
EXPENSES.
$4,378 75
1,423 09
a
Improvements at Clearfield Station, Pa
a
835 221 39
Less—rAbandoned sidings and spur tracks:
•' .■/
Rockton
-
Other
Operating Expenses increased $1,201,662 71,
v
—$151,725 78
Increased weight of rails—
Track fastenings and other material.
336,051,519
....
freight
.
——
Land
2,040,358,520
1,704,307,001
gross
4,615 27
3,835 69
Clearfield <fe Mahoning Railway.
for the year is
$1,237,150 20 in
03
68
32,137 70
Excepting the branch at Craigsville, Pa., still
all of the work mentioned above is completed.
1,792,459
An increase of 19.72 per cent, or
The result
43
98
way,
10,698,149
An increase of 16.75 per cent, or
"Tons moved
Total—
349,396
""
Total——.—:——.—
-----
yards
Improvements at Allegheny Station, Pittsburgh, Pa
791,924
54,995
517,627
78,517
538,452
263,574
231,857 "
2,475,986 ;
,
Pig and bloom iron
Other freight-
811,544
45,461
9,978
44,152
-
Increase.
1912.
7,980,204
Western Railway.
Land
in the
history of the Company, all of the general commodities
-showing increases, as follows:
Bituminous
xcvii.
Grade revisions and changes of line
Track fastenings and other material
also the largest
was
[VOL.
or
18.59
mine
line—
$15,874 10
—
sidings
1,118 35
—
—
per
16,992 45
cent, due principally to the larger volume of traffic, neces¬
sitating proportionate outlays in all departments.
The expenses were further increased
by the advances made
in wages of employees, the higher cost of
Total
.—.
—
r—
$18,228 94
—
>
All of the above work is completed.
materials, and, in
FIRE
addition to the
ordinary Maintenance charges, by expendi¬
tures for the improvement of track and
rolling stock required
by higher standards of efficiency.
The operating ratio increased 2.29 per cent, being 70.03
per cent, against 67.74 per cent last year.
•
The assets of this fund
/';/•,
The percentage
The assets
of each group of operating expenses to
earnings for the past five years is as follows:
•
:
Maintenance of way
Maintenance of equipment-
Traffic---"Transportation.
1913.
14.23
—
General —1——
—
-
Total--———.-
1911.
12.57
19.35
18.94
1.26
1.44
-32.71
2.05
32.88
32.11
2.14
1.81
-70.03
67.74
67.28
—
——
—
1912.
12.52
19.74
1.30
1910.
10.72
21.45
28.55
1.74
29.22
2.25
carried
tons
revenue
being .01
mile
one
Loans
revenue
The
number
average
of
carried
tons
revenue
mile
one
revenue
1904
1905-1906
1907-.!
1908
—
-
Train Load. Engine Load. Year.
'
439
357
1909--.
507
374
1910—.
525
418
.1911
—
543
530
—
The
mile
435
371
-
.
635
.
1912---.
V
439
710
:.
462
revenue
passengers
carried
u
.--12,820,161
1,117,413
.--99,797,191
——
-
Number of tons carried
one
mile—.
331,305
...
—
"
Total-
company
one
•'
' +
v
Advances
//'
LEASED
made
were
to
betterment expenditures
as
LINES.
leased
lines
"
for
1912.
Mr..
-——.$292,000
—
was
$295,000
issued to your
to reimburse it for the reservoirs and other property
181912, elected a Director
in the Board caused by the resignation of
Harry Yates,
.
.
.
'vW
The acknowledgements of the Board are renewed to the
officers and employees for their faithful and efficient services.
'
Statements
statistics
of
operations .■ of your road
submitted herewith.
By order of the Board.
WILLIAM T. NOONAN, President.
Rochester, N. Y., July 30 1913.
:
for
<
and
..
BROOKLYN
—
Mr. Lewis Iselin was, on Nov.
275,546
10,880,382
972,535
88,403,527
additions
—
to fill the vacancy
■
follows:
55,000
60,000
6% Bonds. >
$50,000
170,000
65,000
10,000
transferred.
'
r
StocK'
$92,000
85,000
The entire amount of these securities
..
1913.
Number of passengers
Number of passengers carried one mile_
Number of tons
:.
'
Company—
'
than last year.
The non-revenue traffic, not included in
any of the other
figures of this report, is as follows:
.
''
.
per revenue passenger train mile is 39, being 1 more
..
a
year.
Kyle Water Company-Cloe Water CompanyCummings Water Company-
430
647
in¬
$190,-
.
'
1913-
number of
average
420
were
to
•
Train Load. Engine Load.
597
C
400
638
1903,
1913,
during the
seven
amounting
Ketner Water
<
Year.
fund, created July 1
company organized to
to in former reports,
freight engine mile, including the mileage of
helping engines, increased 23 tons, being 462, against 439
.a year ago.
'
The averages for the past ten years are as follows:
per
// •:+.//%;*■ /;./■
FUND.'.
$75,150 were made to the realty
acquire and hold real estate, referred
making a total of $373,000 advanced
to date.
/'•+:;■•/+//
•-.;>* '7.
In order to maintain water rights in
Pennsylvania and pro¬
tect the supply of good water,
independent companies were
created and capitalized as follows:
freight train mile, excluding the mileage of
helping engines, increased 62.63 tons, being 710.04 tons,
against 647.41 tons a year ago.
per
interest-bearing
/'-■/• /■', general remarks.
The Ontario Car Ferry Company,
Limited, paid a divi¬
dend of 5% for the year ending Dec. 31 1912.
The sum of
$12,485 received on the $249,700 of this Company's stock
was credited to Other Income account.
.
of
increased $22,796 03 during
were
PENSION
of this
increase of
net
1.41
66.07.65.05
The average cost per ton per mile is 3.00
mills,
mill less than last year.
The average number
'//, /
creased $13,633 08 during the year, and now amount to
952 78 in interest-bearing securities and cash.
There were 58 pensioners upon the roll on June
30
1909.
13.65
20.78
1.35
"
FUND.
the year, and now amount to $259,544 15 in
securities and cash.
/>: //.
/ ■
•
•gross
INSURANCE
and
the year are
RAPID TRANSIT CO.
REPORT OP THE BOARD OF DIRECTORS TO THE STOCKHOLDERS—FOR YEAR
ENDING JUNE 30 1913.
COMPARATIVE STATEMENT OF THE RESULTS OF THE OPER
ATIONS OF THE BROOKLYN RAPID TRANSIT SYSTEM
85 Clintqn Street,
—
Brooklyn, N. Y., August 5 1913.
The financial results
June 30 1913 show:
.
An
increase
in
gross
of
the
:,
earnings from operation of $925,-
737 57, or 3.99 per cent;
;/.*/",//,s,•/' + ''/+;• .;■•■An increase in operating expenses of
$221,396 56, or 1.76%;
An increase in surplus from operation of
$785,705 40,
21.17 per cent;
J^An increase in
•$298,758 87;
ENDING
or
JUNE
30
1913.
.
1913 AND
1912.
Gross earnings from oper__$24,152,288 09
$23,220,550 52
Operating expenses- —12,833,455 89
12,612,059 33
Net earnings
1912.
Inc.
or
Dec.
+$925,737 57
+221,396 56
from oper_$ll,318,832 20
339,946 88
$10,614,491 19
317,991 12
+ $704,341 01
Income from other sources
Total income—--r —-$11,658,779 08
Less taxes & fixed charges.
7,161,851 41
$10,932,482 31
7,221,260 04
+$726,296 77
—59,408 63
$3,711,222 27
+$785,705 40
+21,955 76
*
reserves
A decrease in bills
H The net surplus of
for insurance and
depreciation of
income------
Net
payable of $1,400,000.
the system for the
year was
of the fiscal year 1912.
The attention of stockholders is called elsewhere in this
report to the gradual conversion into capital stock of the
Brooklyn Rapid Transit Company's Refunding Mortgage
Four* Per Cent Gold Bonds, thus
increasing the amount of
capital stock outstanding, which on June 301913 was $49,078,000/ The opportunity for conversion
empires on July 11914.
$4,496,927 67
Profit from real estate dis¬
other
miscellaneous items (&)_
posed of
$4,504,41156.
'>
Dividends declared during the year aggregated
$2,440,770 35.
The rate was 1
per cent quarterly, except for the
last quarter, when it was increased to
13^ per cent.
j£ Certain adjustments of the profit and loss account, in¬
cluding the setting aside of a special reserve of $50,000 and
the charging off of $60,522 83 to
supercession and deprecia¬
tion, left the surplus of the combined system as of June 30
1913 $7,904,606 63, as against
$5,863,812 80 at the close
YEARS
FOR
•
system for the year ending
(a)
and
z7,483 89
20,036 75
—12,552 86
$4,504,411 56
5,863,812 80
$3,731,259 02
5,427,394 54
+$773,152 54
+436,418 26
$10,368,224 36
$9,158,653 56
+$1,209,570 80
Total surplus for year..
Surp. at beginning of year.
Total
this
Of
amount
there has
appropriated:
been
Accounts written off
$28,513 60
$2,972 91
+$25,540 69
*116,255 73
28,543 65
—144,799 38
66 68
14,460 60
—14,393 92
60,522 83
50,000 00
9,012 95
1,000,000 00
+51,509 88
—950,000 00
Adjustment of taxes prior
years—
—
Adjustment of expenses
prior years
Supercession and Depre¬
ciation
--------
-
Special reserve
'
Dividend on B. R. 'T.
Co.'s stock outstanding
2,440,770 35
-
Total
L
0
appropriations
Balance sheet surplus.
*
Credit,
x
,
2,239,850 65
+200,919 70
$2,463,617 73
$3,294,840 76
—$831,223 Q3
$7,904,606 63
$5,863,812 80
+$2,040,793 83
4
1913 (6) only. "
;
.
■
;
:
,
>
,
Aug. 9
THE
1913.]
CHRONICLE
DEATH OF MR. ANTHONY N. BRADY.
The Board of Directors
sudden death in London,
with great regret the
announces
England,
July 22 1913 of Mr.
Anthony N. Brady, for seventeen years Chairman of this
Board of Directors and during the entire life of the company
a loyal and interested
participant in its affairs.
At a meeting of the Directors on July 28 1913 the follow¬
ing resolution was unanimously adopted:
; ; ; ^ "
on
•
"Resolved, That there be spread upon the minutes of this
meeting the sense of loss felt by the Directors, individually
and as officers of the company, in the sudden death of Mr.
Anthony N. Brady, the Chairman of this Board.
For sev¬
enteen years he has been actively concerned in the direction
of the company's business.
During all of that period he has
shown unceasing interest in its growth and development,
manifesting that interest not only in the devotion of service
and talents to its affairs, but in his large investments in its
securities.
Never for
an
instant has his faith in its
success
or his
loyalty to its welfare wavered. Always have his in¬
fluence, advice and resources aided, encouraged and made
possible a constantly growing expansion of its facilities and
its opportunities for public usefulness.
He believed in up¬
building, and willingly took his share in the sacrifices neces¬
sary to that end.
By the liberal contribution of new capital
and the continuous application of net earnings to improve¬
ments, the public service properties in which he was inter¬
ested have not only vindicated the wisdom of a conservative
and wholesome business policy, but have been dominant fac¬
tors in a great community's prosperity, comfort and growth.
When the opportunity came for still greater expansion of
corporate usefulness, and the exhibition of even broader
business foresight and courage, in the development of the
vast plan of municipal transportation now being executed,
through combination of private with public capital, the vigor
and power of his personality commanded the financial sup¬
port which made possible this company's co-operation and
participation.
"As presiding officer in this Board he revealed not only
sound business judgment, keen perception and great fair¬
ness of mind, but his
loyalty to friendships, his unassuming
character and his instinctive kindliness of
deared him to his associates and make
manner
have
en¬
painful the realiza¬
tion of his departure."
sassreaHsagEag
RAPID
TRANSIT
EXPANSION—AGREEMENTS
WITH THE
.
CITY.
During the Company's fiscal year the long:? negotiations
with the City for the expansion of rapid transit (referred to
in the last two preceding reports) were finally consummated
in the contracts of March 19*1913 between the City of New
York and New York Municipal Railway Corporation, which
was incorporated on
September 27 1912 for the purpose of
carrying out this Company's part in the so-called Dual Sys¬
tem.
••
These contracts
;••
•■.
four in
number, and covered sub¬
stantially the following obligations:
were
1. The City agreed to construct at its expense three rapid
transit railroads, namely:
v
(a) The Broadway-Fourth Avenue Line, comprising gen¬
erally in Manhattan the Broadway-59th Street line, the Canal
Street connection with Manhattan Bridge, the Centre Street
Loop with its extension through Nassau and Broaid streets,
and a tunnel under the East River, and in Brooklyn the Fourth
Avenue Subway from Manhattan Bridge to 86th Street, with
branches to Coney Island via 38th Street and New Utrecht
Avenue, and to a connection -with the Brighton Beach Rail¬
road at Malbone Street via Flatbush Avenue.
(b) The Culver Line, constituting in effect another branch
subway to Coney Island via Gravesend
of the Fourth Avenue
Avenue.'
,
*
•,
,
'■:•
(c) The Fourteenth Street-Eastern Line, beginning at
6th Avenue, Manhattan, and
extending under 14th Street
and the East River to North Seventh Street,
Brooklyn, and
thence to a connection with the elevated railroads at East
New York. "
2.
The
'•'
""
\
.
.
•
-v
.
Company agreed to equip the above-named rail¬
roads, and to contribute towards the
cost of construction
of $13,500,000 in addition to the cost of a
connection between the Broadway and Canal Street
subways;
also at its own expense to construct and
thereof the
sum
equip certain ele¬
vated railroad extensions, one to Jamaica via Jamaica Ave¬
and the other to Lefferts Avenue, Queens, via Liberty
nue,
Avenue, and certain additional tracks
upon
the present ele¬
vated railroad system, and to provide for certain connections
and reconstruction of the railroads and
equipment of the
New York Consolidated Railroad Co.
The
estimated cost of construction to the
City is $100,500,000; of construction and equipment to the Company,
$65,000,000, besides the contribution of existing rapid transit
railroads.
3.
The lines to be constructed by the
City are to be leased
Company for a period of 49 years from Jan. 1 1917
to the
(with provision for recapture by the City after ten years), and
to be operated by the Lessee in
connection with the ex¬
isting railroads of the New York Consolidated Railroad Co.
(as enlarged and extended) as one system, and for a single
are
fare.
a? 7
There will be approximately 293 miles of track in the en¬
larged system (including trackage rights over the Astoria and
Corona, Queens, lines enjoyed mutually with the Interborough Rapid Transit Co.), of which approximately 133
miles will be owned by the City.
Under the terms of the lease, the annual net revenue re¬
maining after operating expenses, taxes and provision for de¬
preciation, is to be applied in the following order: •
1. To the Lessee, $3,500,000, as representing the net earn¬
ings of the existing railroads, which are to form part of the
new rapid transit system.
Out of this reservation the Lessee
is to pay interest charges on capital investments prior to
March 19 1913 in the existing railroads.
2. To the Lessee six per cent on its new investment in con¬
struction and equipment prior to the beginning of permanent
operation, and thereafter interest and one per cent sinking
fund.
*'
' ■>'
cent sinking fund
.
a
To the
3.
City interest and
one per
its investment in cost of construction.
on
<
Any surplus remaining, after making provision for a mod¬
contingent reserve fund, is to be divided equally be¬
tween the Lessee and the City.
Prior to the execution of the contracts with the City, and
pursuant to the predetermined arrangement, the companies
owning the existing railroads which are to form part of the
new rapid transit system, namely, the Brooklyn Union Ele¬
vated Railroad Co., the Canarsie Railroad Co. and the Sea
Beach Railway Co., were duly consolidated into the New
York Consolidated Railroad Co., and subsequently the latter
company took from the New York Municipal Railway Cor¬
poration an assignment of the operating provisions of the
City contracts assumed by that corporation, so that the New
erate
York Consolidated Railroad Co. will be the operator of the
It also has acquired all the capital stock of the
Municipal Railway Corporation, with the right
obligation to take any which may hereafter be issued,
and has guaranteed the principal and interest of the latter
company's funded debt.' The money necessary for construc¬
tion and equipment, however, will be provided by the New
York Municipal Rail-way Corporation, and for this purpose
is has mortgaged its agreement and lease with the City and
all its other property, now or hereafter acquired, to secure
$100,000,000 of its Five Per Cent Gold Bonds.
Its author¬
ized capital stock is $2,000,000, of which $100,000 has been
issued and is outstanding.
cThus it will be seen that all the surplus earnings of the new
rapid transit system, except that portion which is paid over
to the City, will accrue to the New York Consolidated Rail¬
road Co., of whose stock the Brooklyn Rapid Transit Co.
and one of its constituent companies own over 96 per cent.
In order that funds necessary for carrying out the con¬
tracts with the City might be promptly available and because
of the parent company's superior credit, the Brooklyn Rapid
Transit Co., as set forth in last year's annual report, prior
to the formation of the new company and to the execution
of the City contracts, arranged with the Central Trust Co.
of New York, Messrs. Kuhn, Loeb & Co. and Messrs. Kidder,
Peabody & Co. for the sale of $40,000,000 of its Six-year
Secured Gold Notes on a Six Per Cent basis, less a commission
of one per cent.
These notes were delivered on Oct. 1 1912.
They date from July 1 1912, bear interest at the rate of five
per cent per annum, and are secured by $10,000,000 Refund¬
ing Mortgage Four Per Cent Bonds of Brooklyn Rapid Tran¬
sit Co. and $40,000,000 of New York Municipal Railway
Corporation's First Mortgage Five-Per Cent Gold Bonds.
The latter bonds have been acquired at 97, and accrued in¬
terest with the proceeds of the notes and with additional
funds provided by the Brooklyn Rapid Transit Co.
The
notes are convertible, at the option of the holder, par for
par, prior to Jan. 1 1916, into the New York Municipal Rail¬
way Corporation's bonds, which, in addition to the guaranty
of New York Consolidated Railroad Co.
previously referred
to, bear the Brooklyn Rapid Transit Co.'s assumption of
payment—principal and interest.
Stockholders are to be congratulated, therefore, that so
large a part of the funds called for by the City contracts,
and all that will probably be required during the first three
years, are in hand, and were secured upon more favorable
terms than wquld be
possible under existing financial con¬
ditions.
The construction work is now under way and will
be prosecuted as rapidly as conditions permit.
In the meanwhile, a
portion of the Broadway-Fourth Ave¬
nue Line,
namely, two tracks in the Centre Street Loop, was
placed in operation on Aug. 4 1913, and, under the provisions
of the City contract as to
temporary operation, the pooling
of earnings then became effective and the distribution of
revenue will be made
substantially as described above.
The status of the surface railroad lines in the Company's
system remains unaffected by the new contracts with the
City.
'
new
system.
New York
and
ADDITIONS, IMPROVEMENTS & MAINTENANCE.
The maintenance of way and structure and of
during the
equipment
absorbed $3,880,331 71 of the system's reve¬
nue, an increase in charges over the preceding year of $88,485 21.
m
The
year
construction
aggregated $5,400,819 6?£of
in the table elsewhere
presented, was in connection with the rapid transit contracts
entered into with the City of New York on March 19 1913.
charges
which the larger amount,, as shown
378
SURFACE
Two
-
CHRONICLE
THE
short
extensions of
LINES.
300
surface lines
were
constructed
during the
year, namely, on Malbone Street, from a connec¬
tion with the Kingston Avenue line to a connection with the
Nostrand Avenue line, and on Sixteenth Avenue from 58th
Street to the Sea Beach line near 63rd Street.
Additional
trackage thus constructed
track.
was
1.19 miles measured as single
new
,
substituted for trolley wire.
ELEVATED
■
tric bonding apparatus, two electric track drills, two
gaso¬
lene concrete mixers and one rail-cutting machine.
MEDICAL INSPECTION BUREAU.
Three and
one-half miles of elevated structure
were
re¬
December
the
1912
/
.
Medical
Inspection Bureau was
organized, in charge of a Chief Inspecting Physician and
Assistant, for the examination and care of employees of the
Transportation Department.
The effectiveness of the work
was reflected in a very material decrease in the number of
working days lost by employees on account of sickness com¬
pared with the corresponding period of the year previous i
The Bureau is supported by the company and the service is
rendered without charge to employees, and through an ar¬
rangement with various druggists the employees are enabled
to procure medicines at small cost.
j
INCREASE
IN WAGES.
Just
prior to the close of the fiscal year and effective
July 4 1913, a general increase was announced in wages of
employees, benefiting about six thousand men in the Trans¬
portation Department.
The increases varied according to
the length of service and record of efficiency, and ranged
cent.
ACQUISITION OF THE CONEY ISLAND &
BROOKLYN RR.
CO.
>
Myrtle Avenue from Hudson Avenue
.///
/". /■,; /;■/>■..,.-/\/
The steel work of sixteen highway bridges across the
Brighton Beach line was cleaned and repainted.
Waiting rooms were constructed at the Ocean Parkway
station of the Brighton Beach line and at Van Siclen station
cation.
the Con¬
and en¬
trances to Washington Avenue provided for the better ac¬
commodation of traffic due to the opening of the new; ball
grounds.
completed.
A temporary
auxiliary
.
of the Centre Street
;
the company operates.
The safety crusade is conducted in the public schools by
means
of lectures delivered to the children in the class-rooms
and
assembly halls, these lectures being illustrated by small
models of B. R. T. trolley cars and supplemented by story
pamphlets and the distribution of safety buttons.
Three
such pamphlets, have been used in the regular sessions of the.
being practically
y./I.. ■ /, :/~/
sub-station, made necessary by the operation
; "■,/
///'■'
-
.
The 20,000 K. W. Turbo-Generator Unit contracted for
last year has been delivered and is now being erected, the
the
.
(
1
of
:•/////'<'-;-
Brooklyn Rapid Transit Co., in co¬
operation with the American Museum of Safety, undertook
a Children's Safety Campaign of six months in the
public
schools of Brooklyn.
This work, authorized by the Board of
Education of the City, was continued, with great success
through the last four months of the regular sessions of the
schoos ending in June, and is now going On in the summer
schools and playgrounds throughout the territory in which
Additional platform facilities were constructed at
Park Station of the Brighton Beach line
installation
•'
On March 1 1913 the
sumers'
.
■'
SAFETY CAMPAIGN.
of the Culver line.
STATIONS.
opportunity was presented during the fiscal year to ac¬
quire upwards of two-thirds of the capital stock of the Coney
Island & Brooklyn Railroad Company, and application to
panies of the Brooklyn Rapid Transit Company.
No ac¬
tion has as yet been taken by the Commission upon the appli¬
to Hudson Avenue and
to Grand Avenue.
POWER
An
take this stock was made on March 29 1913 to the Public
Service Commission for the First District by the Coney Island
& Gravesend Railway Company, one of the constituent com¬
This included sections of the Fifth Avenue line
from 34th Street to 67th Street, Flatbush Avenue from Ful¬
ton Street to Fifth Avenue, Fulton Street from Fulton Ferry
apparatus
•
Loop, has been erected at Centre and
schools.
Walker streets, Manhattan, and equipped with two 1,000
K. W. Rotary Converters and the necessary auxiliary appar-
•
In
•
.
painted,
construction and repair of tracks
been purchased,
consisting of three rail grinders, two
electric cranes, one electric rail-welding machine, one elec¬
from four to fifteen per
LINES.
47,045 feet of rail (representing approximately 4.45 miles
of single track) and 3,540 feet of steel guard rail were re¬
newed.
'V■ V j',>V ■'
19,300 cross-ties, 28,582 feet of timber guard rail, 69,424
feet of footwalk and 2,473 track bonds were renewed.
at
v
has
•//
^;
(including .14 miles on the Brooklyn Bridge)
single track were relaid with a standard type of heavy,
grooved rail.
;
V122,565 square yards of improved pavement (14.57 miles
of street) were laid between tracks and rails, and in addition
the City was reimbursed for approximately 32,150 square
yards of pavement laid adjacent to the outer rails of tracks.
A much larger volume of work has been arranged for the en¬
suing fiscal year.
/
Six electrically operated switches, three side tracks and five
cross-overs were constructed during the year, and seventyfive pieces of special work were renewed.
Portions of the trestle on the Flushing line across Flushing
Creek were rebuilt and defective piles renewed on the bridge
across Coney Island Creek on the Culver line.
The Church Avenue Tunnel under Ocean Parkway was
reconstructed and widened and iron bar overhead work
xcvii
fire-proof metal lockers have been installed
various depots and shops.
New equipment for the
13.43 miles
of
[Vol.
The school lectures have also been conducted in
of the parochial institutions of Brooklyn, where the
same model cars and pamphlets have been employed in im¬
atus.
:
*
v
pressing upon the children the safety lessons.
TRANSMISSION SYSTEM.
In many of the schools the teachers have given most en¬
66.77 miles of trolley wire were renewed and 2.06 miles'
couraging co-operation by such undertakings as the organi¬
erected in connection with extensions, side tracks, etc.
zation of safety patrols to guard the children in crossing
1,523 trolley poles were painted, 191 poles reenforced, 690 streets going to and from school, and in the arrangement of
poles reset, 250 poles replaced and 112 new poles erected:
safety days, on which, in several instances, an entire day has
"1.56 miles of feeder were installed in underground conduits
been given up to safety demonstrations, with lectures, reci¬
and 3.75 miles of overhead feeders removed.
: v
tations by the children and safety plays in which some chil¬
r'vv :CAR EQUIPMENT.
-/Si'/.' dren would impersonate passengers, some conductors and
100 surface cars of the center-entrance type were ordered
motormen, and others pedestrians and the drivefs of vehicles
in the streets.
In one school, where a publication is issued
and 11 had been placed in service at the close of 4he fiscal
monthly,, one-number of this publication was devoted es¬
year.
•
105 cars of miscellaneous type—freight, mail, work cars,
pecially, to the safety work, and cuts were printed of the B.
It. T. safety wagon, the model cars and the other parapher¬
etc.—werev equipped with wheel guards./
.
* •
nalia of the safety crusade.
2 snow plows were added.
The safety work has adapted itself very successfully to the
57 pairs of modern design Maximum Traction Trucks re¬
placed an equal number of equipments of less efficient type. instruction in the summer schools and summer playgrounds
1,507 surface passenger cars and 82 freight cars were over¬ maintained in various parts of the Borough of Brooklyn,
many
•
.
•
hauled, repaired and varnished.
v
-
'
v
900 elevated passenger cars were overhauled, repainted and
varnished, and ,5 additional lights installed in each of 32
motor
cars.
.
.
>
'
'
,•/■ '■
The brake
equipment of 317 elevated motor cars was im¬
proved by the installation of^ interlocking devices.
Additional machinery was installed in the various shops.
MISCELLANEOUS.
The construction of the Classon Avenue Relief Sewer
by
the City will involve temporary abandonment of tracks and
re-routing of
cars on certain lines, causing some inconvenience
of such lines during the ensuing year and a very
large expense to the companies.
/
to patrons
The East New York
Employees' Club-House was altered
provide increased facilities and equipped with refrigerat¬
ing plant and cold-storage room, and additional restaurant
to
and kitchen utensils and restaurant and club-room facilities
have been installed and improved at other locations.
The sprinkler equipment in the 58th Street Depot, con¬
tracted for last year, was completed.
.
Numerous minor improvements have been made,
particu¬
larly in repair shops and depots, ,for the better protection of
companies' properties against damage by fire.
particularly in the congested districts: The summer school
and playground instruction being necessarily of a more in¬
formal character than that of the regular school session, the
lecturers in the safety campaign have been able to come very
intimately in contact with the children and in many in¬
stances
with their parents.
;
Specially for this summer school work a set of drawings
was
prepared graphically illustrating accident conditions
due to carelessness of passengers or pedestrians, which draw¬
ings have been employed. with evident appreciation by the
children and the teachers.
All told, in the campaign of the
last six months approximately 300,000 safety buttons have
been distributed and 600,000 leaflets.
The lecturers have
visited practically all of the public schools in Brooklyn, 170
in number, and many parochial schools.
The summer in¬
struction is covering 13 summer schools and over 30 play¬
grounds.
It is anticipated that the school crusade this year will be a
beginning for even more extended safety instruction in the
schools wdth possible outside co-operation from organizations >
or committees.
Evidences of appreciation by the children
and their parents have come in from many sources, and the
work has the cordial endorsement of the school authorities,
of the city.
•
•
'
.
,
AUG. 9
1013.]
THE
tA
CHRONICLE
i
'-w>-f
J**
.14-
••
r1
-fc**!
REFUNDING MORTGAGE FOUR PER CENT BONDS.
Authenticated at July 1 1912
Issued during yer
$50,199,000 00
863,000 00
Converted into stock to June 30 1913
$51,062,000 00
'4,177,000 00
»
379
hA
Jglue Cnroramial Jjhmrs,
COMMERCIAL
'
•
Net authenticated and outstanding
$46,885,000 00
In hands of the public.
In possession of the B. R. T. System
g follows;
"
$28,901,000 00
17,984,000 00
Collateral
to
$40,000,000 00
notes—
__
\
6-year
i-.
5%
-_$10,000,000 00
2,861,000 00
i
Collateral to bills payable
In Treasury B. R. T
In treasury N. E. RR
15,000 00
,
700,000 00
250,000 00
Detailed statements of operation, statistics and Consoli¬
dated Balance Sheet are appended hereto.
—
United States Worsted Co.,
Boston.—Proposed Plan.—
Turner, Tucker & Co. Aug. 5 proposed a plan of adjust¬
ment which would reduce the capitalization as follows, the new
shares to be 150 par as against $100 for present stock.
Result of Proposed
Recapitalization.
Present.
1044)
2d pref. 7%
cum.
stock to remain
as
now
p.
non-cum.
Proposed.
(Y. 95,
$5,000,000 $5,000,000
4,000,000
1,000,000
-
stock (not all outstanding)
,
Bankers' loan
Sinking fund certificates, interest 6% cum. imme¬
diately following new 1st pref. (for above loan)
Common stock in $100 shares
Do
do
in $50 shares
*,
1,300,000
7,000,000
3,000,000
Total
$17,000,000 $9,300,000
This reduction will be brought about by distributing the $3,000,000 new
common stock as follows: the $5,000,000
present 1st
pref. stock remaining
as now:
(1) Holders of the $3,000,000 2d pref. (par $100) which
was
given
In exchange for U. S. Worsted Co. of Me.
pref. would receive an equal
number of $50 shares of new common, say in all $1,500,000; (2) holders of
2d pref. who paid for same in cash or property would receive two $50 shares
of new common for each $100 share; (3) for
10% assessment heretofore paid
on U. 8. Worsted Co. of Maine common
stock, par in new common (in
other words, one new $50 share for each five of the present common shares
of $100 each that were issued upon payment of the said
assessment) and for
common shares of U. S. Worsted Co. of Mass. fully
paid for in property,
also par in new common, thus wiping out all bonus stock.
Digest of Statements Issued by Turner, Tucker & Co. Aug 5 1913.
Upon formation of the U. S. Worsted Co. of Mass. we advocated making
exchange of the pref. shares of the U. 8. Worsted Co. of Maine for the
an
2d
pref. shares of the new company, since we believed that, though the
Maine corporation was eminently successful, it was severely
handicapped
through not having sufficient banking capital.
It now appears that the
net quick assets were not in accordance with the plans.
Opinion differs
to cause, and we are not in a position to decide as to the relative merit
of the various contentions.
The shortage has been made up in part by the
bankers by a [$1,000,000] loan to the company, so that only the assets and
not the earnings are, in our opinion, affected by the
shortage.
[See V. 97,
p. 180; V. 96, p. 1560, 1162.1
We feel, however, that an immediate reorganization is absolutely neces¬
sary.
If the company cannot be promptly reorganized with the consent
of the shareholders, a receivership with an immense loss to the 2d
pref.
and common stockholders appears inevitable.
We have devised a plan of
reorganization which we think is perfectly fair to all interests.
It con¬
templates a reduction of capitalization from $16,000,000 to about $9,300,000, and eventually, if the company is successful, reduces the capitalization
further to $8,000,000.
By the terms suggested the 1st pref. shares would
remain as now and the $3,000,000 new common stock will be divided
(a) among the holders of [$3,000,000 of] the present 2d pref. shares [$5,0
common for $100 2d pref.],
(b) in exchange fat par] for the actual money
previously paid or property received for 2d pref. issued by the U. S.
Worsted Co. of Mass., and (c) for the money paid or property received
for the present outstanding common shares.
The bankers, in exchange for their $1,000,000 loan, would receive
$1,300,000 6% sinking fund certificates subordinate to the 1st pref. shares,
these certificates to have a sinking fund of $130,000 each year,
payable out
of earnings, so that at the end of 10
years, if the company is successful,
these certificates should be entirely retired, leaving an outstanding
capitali¬
zation of $5,000,000 in 1st pref. stock and $3,000,000 in common
stock, or
just one-half of the present capitalization.
The bankers have agreed that
the company shall first offer the sinking fund certificates to the
present
stockholders at the same price that the bankers are willing to pay for them.
If the predictions made by Andrew Adie, Esq., in bis
prospectus to the
stockholders, issued at the time of the consolidation, are verified, the new
common shares should prove of immediate value.
Considering the present
state of the goods market and the disturbance caused
by the probable change
of tariff, the U. 8. Worsted Co.
is, we understand, doing a good business.
—V. 97, p. 180.
*
'
as
.
Western
Guaranteed
United
Gas
&
Electric
Debentures for New Gas
Co., Aurora,
(F.
W.)
^50.
Woolworth Co -Earnings.-^
1913
July
1912.
$4,912,705
$4,488,221
—V. 97, p. 121.
York
&c.—-
Supply, &c.—-
See Coal Products Mfg. Co. above.—V. 96, p.
Dec.
9.46%
I
1913—Seven Mos.—1912.
($33,264,667
$30;038,885
Inc.
10.73%
(Me.) Light & Heat Co.—Sale.—
See Cumberland County Power &
-
—
President.
1st pref. 7%
Stocks of Merchandise at New York—~ Aug. 1 '13. July 1 '13. Aug. 1 '12.
Coffee, Brazilbags 228,845
1,436,161
1,741,674
Coffee, Java
mats
31,520
36,104
57,122
Coffee, other
-bags 1,268,531
230.830
284,500
Sugar
____hhds
71,990
89,504
10,765
Hides
-No.
4,130
3,500
7,785
Cotton
-bales
36,267
51,223
125,061
Manila hemp——
bales
13,979
17,881
1,210
Sisal hemp
bales
241
441
550
Flour.
-.barrels & sacks
38,500
41,200
52,425
-
Respectfully submitted,
T. S. WILLIAMS, v
com.
crop
^
$17,984,000 00
;
corn
hesitation,but wheat promises a bumper harvest.
Securities seem to be discounting the return of industrial
activity, once the tariff is out of the way.
Easier money
conditions should follow Government. deposits in the banks
and incidentally help business.
The Mexican situation,
however, has a restraining effect on sentiment.
Deposited with City of New York by the
Guaranty fund Brooklyn City RR. lease--
Government estimates for the
the
makes for
Deposited with trustee of The Nassau Elec¬
tric RR. consolidated mortgage
The general undertone in commercial circles continues
good, though irregularity is still in evidence.
Uncertainty
as to crop prospects checks the revival of trade.
A sharp
reduction in
3,112,000 00
1,046,000 00
N. E. RR. Co.—
EPITOME.
Friday Night, Aug. 8 1913.
Light Co. under "Railroads" above.
-—
LARD steady and in fair demand; prime Western $11.75?
to the Continent, $12.10; South American, $12.85?
refined
Brazil in kegs,
$13.95.
Lard futures have been rather easier
though at times recovering in sympathy with the advance
in corn.
Packers were less of a factor but realizing sales
from other quarters were noted.
Hot weather is expected
to cause larger receipts of hogs.
To-day prices were easier.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
September delivery.cts.l 1.50
October delivery
-11.00
January delivery
10.72^
11.32^
11.42^
11-40
11.47 K
11.40
10.95
11.50
10.72 M
11.50
11.55
10.72)4
10.82^
11-37H
11.47H
10.77)4
PORK dull but steady; mess $23 25 @$23 75, clear $20 75
@$22 50, family $25 @$27.
Beef quiet but steady; mess
$19@$20, packet $21 @$22, family $22@$24, extra India
mess $31 @$32.
Cut meats steady; pickled hams, 10 to 20
lbs., 16K@17Kc.; bellies, clear, f.o.b. New York, 6 to 12
lbs., 15I^@18MeButter, creamery extras, 26%@2734o.
Cheese, State, whole milk fresh colored specials, 143^@14^o.
Eggs, fresh-gathered extras, 25@27c.
tOILS.—Linseed stronger; city, raw, American seed, 51
@52c.; boiled, 52@53c.; Calcutta, 70c.
Cottonseed oil
Cocoanut oil
lower; winter 9.20c., sumiher white 4.20c.
stronger; Cochin 14@15c., Ceylon 11M @12 34c.
Chinawood active at 7H@7%c.
Corn in good demand at 6.50
@6.55c.
Cod steady at 38@40c.
COFFEE has been irregular but rather easier; No. 7 Rio
9@9J4e.
Mild grades quiet and steady; fair to good Cucuta
11 @llF£c.
Futures continued heavy but rallied when pres¬
sure was removed.
Active receipts at primary points and
the lower firm offers from Santos had a depressing effect.
Buying power of the large interests has been crippled by the
perpendicular decline.
The roasters are pursuing a hand-tomouth policy, though the spot assortments are poorer.
Bullish crop news was not a factor, but frost scares
may# be
more effective later in the month.
Consumption is picking
up as a result of the greater incentive of the distributer to
push coffee, now that the price is attractive.
To-day prices
were irregular.
Closing prices were as follows:
8.99 @9.00
August
8.60@8.63 December
September __8.65@8.70 January
9.05®9.06
October
8.78 @8-80 February
9.14 @9.16
November -_8.89@8.91 March—_9.23 @9.24
—
April
Ma
ay
—
_9.28@9.30
—9.33®9.34
June
9.35®9.37
July——9.38@9.39
SUGAR.—Raw
higher.
Atlantic port" receipts for the
37,068 tons,- against 53,069 in the week and 36,697 in the same week last year.
Centrifugal, 96-degrees
test, 3.73c.; muscovado, 89-degrees test, 3.23c.; molasses,
89-degrees test, 2.98c;' Refined higher at 4.70c. for granu.
week
were
PETROLEUM steady; barrels.8.70@9.70c.; bulk 5@6c.;
ll@12c.
Pennsylvania crude $2@$2.50; Kansas and
98c.; Corsicana, Tex., 80c.@$1 ? North Lima
South Lima $1 34;, Indiana $1 34; Illinois $1 30.
Naphtha steady; 73 to 76 degrees, in 100-gallon drums,
25c.; drums $8 50 extra.
Gasoline, 89-degrees, 2934c.;
74 to 76 degrees, 2534c.; 68 to 70 degrees, 2234c.; and stove
21c.
Spirits of turpentine 3834@39c. Common to good
cases
Oklahoma
$1 89;
strained $4 15.
.
TOBACCO has ruled exceedingly dull—packers say the
quietest in years—and sales were very routine. Prices are
on the small supplies of binder and filler.
Sumatra is
by the manufacturers for current needs.
Cuban leaf
is quoted too high for the new crop to attract American buy¬
ers.
It is thought that the Western jobbers will soon take
hold of Connecticut Broadleaf, samples of which are now on
inspection.
The crop situation has improved in Wisconsin,
but while there have been showers in New England, not over
a half of the last
year's yield is awaited.
Pennsylvania also
is complaining of the drought, which is damaging the plants.
steady
—The
1913-14
"Directory of Directors in the City of New York,"
edition, has just been issued by the Directory of
Directors Co.
The book contains the
New York City directors in various
names of some 30,000
corporations, with an
appendix comprising selected lists of corporations in banking,
insurance, transportation, manufacturing and other lines of
business, showing their executive officers and all directors.
Price $5.
COPPER
—J.
Hathaway Pope & Co., 20 Broad St., this city have
issued a monthly review of the Standard Oil subsidiaries for
July showing the approximate high and low prices during
the past month.
Free copy of the circular will be mailed
to inquirers.
—"A brief discussion of short-term notes versus
long-term
bonds at present market prices," will be mailed on
request
by Hornblower & Weeks, 42 Broadway, this city.
Mr. Crane, manager of the bond department.
taken
Address
duction
and
continues
good
strong, reflecting
the smaller pro¬
interests
quoted
3^c. to 15 %o. Business quiet in London with prices steady.
Tin firmer on the spot at 41 24c, with light demand.
Spelter
Steady at 5.65c.; lead 4.50c.; London quiet.
Pig iron is
steady but demand slackening; No, 2 East, $14.50@$15.00;
No. 2 Southern, $10.50@$11.00.
Structural material is
quiet,but improvement is expected in the fall after crops are
out of the way. Railroads are buying rails for requirements.
have
15
a
advanced
consummg demand.
Large
to
1534c.
Electrolytic is
Lake
&80
THE
[Vol.
CHRONICLE
On
COTTON.
indicated by
as
ending this evening the total receipts have reached
week
18,042
bales the previous week, making the total receipts since
Sept. 1 1912 9,532,301 bales,, against 11,481,337 bales for
the same period of 1911-12, showing a decrease since Sept. 1
and
last week
14,527 bales
16,639 bales, against
Britain. France.
Aug. 8 at—
our
For the
telegrams from the South to-night, is given below.
New Orleans—
Galveston
Savannah
958
...
...
Charleston
Mobile.
Norfolk.
New York
)
•
Galveston
Texas City
-
«.
—
—
-
~
J
.
0.
--
.
.mi
•
-
-
729
685
Total.
Fri:
Thurs.
Wed.
2,329
2,337
740
__
Port Arthur.—
Tues.
Mon.
Sat.
8,894
2,074
'
«
-
-
-
-
-
r--'
Aran. Pass, &c__
New Orleans—_
'■
'
-
.
.
1
Mobile
200
Pensacola
—
Jacksonville, fee.
—
108
753
509
242
•.
-
-
-
136
2
-
-
«.
m
-
-
-
-
86
86
445
1,443
4
957
279
275
2,222
61
"36
■
«.«
*
Savannah
"184
_
Brunswick
Charleston
—
-
-
-
v
-
781
276
427
-
—
-
—
~"~6
---
-
-
-
-
'
W
-
-L
—
-
""83
_
405
322
702
184
166
----
-
83
N'portNews, fee.
-
12
51
Georgetown
W lmington
Norfolk
"251
124
.
1,988
-----
New York
,'V 17
Boston
:
__
Baltimore.
—
-
v
-
-
""17
-
a
„■
——
>'
—
1
-
•
'
—
-
5
5
'
—
—
'742
—
742
36
36
PhiladelphiaTotals this week-
16,639
3,913
1,!98
2,021
4,005
4,134
1,368
total receipts,
week's
the total
following shows the
since Sept. 1 1912, and the stocks to-night, compared with
The
last year:
*
■
Slock.
1911-12.
1912-13.
Receipts to
This
Aug. 8-
Since Sep
1 1912.
Week.
Galveston
Port Arthur..
Aransas Pass, &c_
New
Week.
Orleans
Gulfport-.
957
.
Pensacola
;
Jacksonville, fee-
226,873
124,899
15,458
2,222 1,282,774
234,334
166
306,792
Savannah.—.—
Brunswick
Charleston
110
Georgetown
""83
Wilmington
Norfolk...-
1,988
»
New York
Boston
:
Baltimore.
_
342,725
*555,545
117,003
N'port News, See-
.-T"l7
...
742
_
1912.
Coast¬
wise.
559
20,728
25,945
2,121
"2,670
16,870
367
17,031
1,843
3,960
'"9",585
131
1,893
1,409
2,341
LeavinQ
Total.
Stock.
2,700
6,252
;ii",8i2
11,812
1,00.0
600
18,028
15,481
16,370
1,843
2,121
7,990
33,249
19,840
13,043
13.461
2,295
22,864
26,360
15,729
114,922
186,588
125,236
1,231
500
500
'300
250
350
Total 1913—
Total 1912Total 1911
2,082
2,936
1.275
846
290
"500
3,091
1,801
1,639
1,487
3,802
71872
9,033
Speculation in cotton for future delivery has been on a
comparatively small scale much of the time during the week
and prices have moved within »a rather moderate range.
For the week prices are lower, with the new-crop months
showing the most depression.
The decline on August has
been moderate.
There has been some rain in parts of Texas,
and though portions of the State as well as Oklahoma need
more moisture, there is an impression among not a few that
the lack of rain and the prevalence of high temperatures
have not as yet caused irreparable damage over any con¬
siderable area.
The hot, dry weather over portions of
the Southwest, it is pointed out, has had a
tendency
to
keep weevil damage
down to a minimum.
Pri¬
vate'
reports
have
been
received
of
beneficial
pre¬
cipitations at
points
in
Texas
from
which
official
reports are not received.
Many optimistic crop reports
have been received from parts of the region east of the Missis¬
sippi, where the weather recently has been very favorable.
Very cheerful accounts have come from parts of Alabama,
Mississippi and Georgia, as well as the Carolinas. The fields
are declared to be free of grass, with the plant
healthy and
well fruited.
In some sections where the crop was about
two weeks late much of the lost ground is said to have been
The movement of
new
cotton in Southern Texas
is
increasing and, according to letters and telegrams from
that section, the movement of new cotton in August this year
is likely to be the largest on record.
Hedge selling by the
South has been noticeably
larger of late and a further increase
in selling of this character is expected in the not distant
future.
"""380
100
"200
recovered.
22,378
21,733
Prominent interests in Wall Street have been rather
free sellers of
the fall and winter months at times.
New
Orleans has also sold, the Continent has sent selling orders,
and there has been scattered selling for local account.
At
.
"""239
timesj however, rallies have occurred, owing
19,802
14,775
"34",249
118",546
5,238
3.47S
3,825
3,340
moisture in parts of the Southwest, where
high temperatures have also been reported. Shed¬
ding is said to have been serious in some parts of Texas
and Oklahoma, and while such claims are believed by some
to,
be
exaggerated,
they
have
created
more
or
less
apprehension.
In parts of Texas and Oklahoma
maximum
temperatures
have been officially
reported
of 100 to 107 degrees.
A prominent Southern authority
stated that a well-defined drought area now extends over
two-fifths of Texas and over all of Oklahoma.
Spot inter¬
ests have bought at times ,and there has been some commissionhouse purchasing, though outside public interest in the specu¬
lation is rather light'.
There has also been covering at times
by nervous shorts.
To-day prices advanced on continuued droughty conditions in the Southwest.
There was no
rain in either Texas or Oklahoma, while temperatures were
reported at many points of 100 to 107 degrees.
The predic¬
tion was for continued fair weather.
Spot cotton has been
'
76,907
7,631
36
1913.
■
15,317
45,664
5
—
Philadelphia
11911.
79,681
1,225 1,654,314
64,802
""53
383,595
135
216,114
50,419
'881 2,377,517
404,363
'919
414,856
1,169
"45
548,064
1,056
750,405
867
39,353
130
6,961
29
62,914
;
433
123,208
2,988
~
Mobile.
Sep
3,806 3,513,577
586,468
200,569
8,894 3,814,281
666,875
138,642
86
128,186
1,443 1,432,285
Texas City
Since
This
Other
Foreign
Other ports-
1,949,036 bales.
•
•
Ger¬
many.
533
313
174
—
1912 of
Shipboard, Not Cleared for—
Great
Friday Nighty Aug. 8 1913.
THE MOVEMENT OF THE CROP,
xcyii.
833
708
137,786
212,948
to reports of
insufficient
very
.
Totals
9,579
16,639 9,532,301
*11,447 bales added
as
11481337
revision of receipts since Set. 1.
In order that
comparison may be made with other years,
give below the totals at leading ports for six seasons:
we
1913.
Receipts at—
1911.
1912.
1910.
'
1908.
1909.
'
Texas City,&c
8,894
86
New Orleans-
1,443
Galveston
—
Mobile
—
Savannahi
Brunswick.
3,806
17,537
~1~,226
"l~,792
"3",120
53
136
316
881
354
1,626
"""166
"l",260
45
'1,056
21
All others.—
"""800
866
727
Tot. this week
16,639
9,579
'
.
1,849
1,964
364
821
1,205
12
"""119
"
"""919
83
1,988
17,983
"
.957
Wilmington..
N'port N. fee
1,267
2,222
_
Norfolk
2,065
"
"
__
Charleston ,fec
5,812
100
20
2
713
| 2 ,483
1,800
""'464
""207
""611
20,305
11,301
11,051
.'■■■
'""717; quiet and closed at 12 cents for middling uplands, showing a
decline of 10 points for the week.
42,039
The rates on and off middling, as established Nov. 20 1912*
Since Sept. 1. 9,532,301 11481337 8,429,189 7,264,956 9,807,432 8,266,041
by the Revision Committee, at which grades other than
The exports for the week ending this evening reach a total
middling may be delivered on contract, are as follows:
.
of
of which 4,225 were to Great Britain,
11,147 to the rest of the Continent.
the exports for the week and since Sept. 11012:, "
15,745 bales,
373
France
to
Below
are
and
Fair
c_ 1.50
Strict' mid. fair._. -1.30
__
on
Middling
on
Strict low raid
Low
_c.
—
Basi« Good mid. tlnged-o. Even
0.35 oTT Strict mid. tinged.0.15 off
0.80 off Middling tinged...0.30
1.40 off Strict low mid.ting.0.85
2.15 off Low mid. tinged..2.00
0.46 on Good ordinary
Stalet middling. .—0.24 on Strict g'd mid. ting.0.35 on Middling stained..0.90
»Reaffirmed Feb. 5 1913.
\
1.10 on
MKWllns fair
Sterlet Rood mid
Good
mWdHng.
middling
0.68 on Strict good ord.
.
—
....
Week ending Aug. 8 T913.
From, Sept. 1 1912 to Aug. 8 1913.
Exported to—
Exported to—
1
Conti¬
Britain. France.
nent.
creat
Galveston.
4,088
.
Texas City.
Great
Total..
Britain.
4,0881,312 ,606!
—j
I
Arthur.
406 ,308:
31 ,480
12 ,921
Ar.Pass.,&e.
New
Orl'ns
2,193
2,388
1981
Mobile
4,581
742 ,011
198
60 ,464
f
24 ,345
Savannah—•
133 ,718
Pensacola..
Wllmingto
253
255
Brunswick
Charleston
New
,491
n
16 ,614
York.
Baltimore.
1,384
373
2,274
4,03 i
2",592
_
2,592
327 ,994
8 ,526
53 ,656
507
P'tland, Me
Fran..
Pt .Towns'd
P'tland, Ore
Total
'11-'12
nent1.
France.
4,225
4,810
373
1,113'
11,147
7,685
15,7453,570,634
Total.
390,6431 ,438,83031,142,079
146,758
87,490: 640,55V
127,949
79,213! 138,642
16,048
8,606|
37,575
150,987
451,2001.,344,198
25,562
57,122
143,148
34,791
65,963j 125,099
63,269
636,412
833,399
100,328
211,819
"~5~, 000 150,111 228,478
59,673
152,115
317,831
500
55,245
72,359
901
54", 481
215",574
8,255
598,049
158,512
71,274
61,911
262,867
104,279
3,716
262,867
104,279
3,716
10,220
"3",877
58,871
YORK
NEW
Mon.
12.00
Tues.
12.00
Wed. Thurs.
12.00
12.00
Fri.
12.00
QUOTATION
FOR
32
YEARS.
quotations for middling upland at New York
Aug. 8 for each of the past 32 years have been as follows:
10.85
10.65
12.75
9.00
8.00
9.81
1913-C—-12.00 1905. c
1912
12.50 1904
12.39
1911
1910
1909
1908
1907
-16.05
12.50
-10.75
13.30
--10.70
1906
1903
1902
1901
1900
1899
1898-
1897. c
1896.
1895.
8.00
8.00
1894.
1891.
6.06
1890
11.31
11.12
9.94
1886
9.56
1885
10.50
1884
10.81
1883—10.19
1882
-13.06
7.25
6.88
7.75
1893.
1892.
6.19
1889.
1888
1887
on
7.25
c
—
12.25
MARKET AND SALES AT NEW YORK.
Saturday—
Monday
Tuesday
WednesdayThursday
Friday—
—
telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named.
We add similar figures for
Sat.
12.00
— .
The
Spot Market
Futures
Market
Closed.
Closed.
Quiet, 10 pts. dec—
Quiet——
Quiet
Quiet-—
Quiet
—
Quiet.
Steady
Steady
Barely steady—
Steady
Steady
Steady..
979,533,3,946.417 8,496.584
20,809 bales Peru,&c., to Liverpool,&e.
In addition to above exports, our
New York.
Aug. 2 to Aug.,8—
Middling uplands
507
13,6084,231,9801,162,6715,009,74710404 398
Note.—N. Y. exports since Sept. 1 include
New
quotation for middling upland cotton in the
York market each day for the past week has been:
■
148 ,292
Philadel'a..
Tot.
Conti¬
291
News
Boston
San
111
73 ,367
106 ,043
_
Norfolk
N'p't
.
The official
Exports
from—
Pt.
off
off
off
off
—
__
Total
—-
pk'r
— —
SALES.
Contr'ct
Spot.
—
1
1
1
II
1
I
t
1
II
1
I
1
1
1
1
I
1
1
1
1"
1
1
Total.
■
-
-
•—
r-
-nrwrn
Aug. 9
THE
1913.]
FUTURES.—The highest,
CHRONICLE
Saturday,
Monday,
Aug. 2.
Aug. 4.
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
Tuesday, Wed'day,
Aug. 5.
INTERIOR TOWNS the movement—that is,
AT THE
lowest and closing prices at
New York the past week have been as follows:
381
corresponding period for the previous year—is set out in
Aug. 6.
detail below.
Aug.—
11.51-.72 11.49-.66 11.53-.60 11.57-.65 11.66-.77 11 6S-.85 11 49-.85
Range
11.50-.52 11.58-.59 11.54-.55 11.65-.66 11.70-.71 11
Closing
Sept.—
Range
■■
.
.—
11.20
—
Movement to August 8 1913.
.70-.72|—
11.17 11.13-.15 11.24-.30 1I .31-.33 11 13-.33
—
Closing.... 11.24-.26 11.20-.22 11.07-.10 11.19-.21 11.24- .26 11
Oct.—
.34-.36^—
Range
11.12-.26 11.04-.14 10.99-.11 11.00-.15 11.05-.20 11 .07-.20 10 99-.26
Closing
11.14-.15 11.10-.11 10.99-.00 11.14-.15 11.07-.08 11 17-.18
_
—
__
11.00
—
'
—
10.94
—
—
■
11.10
Closing.... U.10-.12 11.03-.05 11.92-.94 11.06-.08 11.00-.02 11
Dec.—
Range
Closing
_
11.12-.13 11.05-.06 10.94-.95 11.08
—
11.02-.03 11 .13-.14
11.03-. 13 10.93-.01
__
158,385
176
4,024
24
870
Little Rock..
"328
181,751
1,327
10,310
Ga., Albany...
2
23,963
107,388
165,308
338,002
75,301
36,799
52,007
140,962
27,652
49,327
110.137
73
154
10.86-.98 10.88-.01 10.92-.08 10 .94- .07 10 86-.13
Augusta
481
.....
50
Columbus
—
Feb.—
Macon
Range
10.99 10.93
—
11.06-.08 10.99-.01 10.88- .90 11.03-.03
Closing
93-.09
—
10.94-.96lll.05-.07i—
La., Shreveport
Mlss.,Columb's
March—
11.13-.19 11.0O-.10 10.95-.05 10.97- .09 11.02-.15 11
Range
.04-15! 10
11.13-.14 ir.04r.05 10.95-.96 11.08-.10 11.02-.03 11 .11-12
Closing
April—
104
Rome
95-.19
Greenville
—
Greenwood—
—
"287
Meridian
Range
;
—
—
—
Natchez
—
May—
"33
City..
Yazoo
Range
....
11.18-.24 11.08-.12 11.00-.04 11.00-.14
ll.09-.2l! 11,08-16 11.00-.24
Closing.... 1L18-.19 11.07-.09 10.98-. 00 11.13-.14 ll.07-.08i11.15-.16,
June—
N.C., Raleigh..
44
O., Cincinnati.
1,276
Range
Okla., Hugo*..
Closing
S.C., Greenw'd
Tenn.,Memphls
July—
_
Range
Closing
—
—
—
—
—
_
.
—
1,918
Mo., St. Louis.
"318
1,336
2
Nashville
-—
J
—
_
Tex„
195
Brenham
Clarksville
to-night, as made
by cable and telegraph, is as follows.
Foreign stocks,
as
well as the afloat, are this week's returns, and conse¬
quently all foreign figures are brought down to Thursday
evening.
But to make the total the complete figures for
to-night (Friday), we add the item of exports from the
United States, including in it the exports of Friday only.
Augusts—
Stock at Liverpool........bales.
Total Great Britain stock.
Stock at Havre
—
3,000
17,000
11,000
18,000
....
...
Stock at Trieste
1,256,000
99,000
62,103
61,091
36,000
31,000
81,000
44,000
495,000
726,000
137,786
212,948
94,832
131.012
2,058
4,233
729,000
88,000
41,569
34,000
65,000
463,000
140,965
95,788.
654.000
1.097,000
96,000
50
.......2,362,947, 2,304,106 1,657,372
1,661,993
Egypt,Brazil,&c.,aflt.for Europe.
Stock in Alexandria, Egypt
Stock in Bombay, India
Stock In U. S. ports
.Stock in IJ. S. interior towns
U. S. exports to-day
Of the
supply.
above, totals of American and other descriptions are
as
Continental
...bales.
.
stock..
American afloat for Europe...
U. S. port stocks.
IJ. S. interior stocks
U. S. exports to-day....
294,000
35,000
122,000
61,091
62,103
137,786
212,948
41,569
140,965
131,012
94,832
95,788
50
25,000
168,000
64,587
237,365
55,910
3,131
764,372
847,993
4,223
1,165,947 1,455,106
&c.—
.....
Total visible
supply......
Middling Upland,Liverpool
Middling Upland, New York
Egypt, Good Brown, Liverpool
382
"225
309
5,810 1,022,640
6*367
18,505
14,937
94,832
25,174 131,012
MOVEMENT
FOR
THE
Sept. 1.
565,191
•
6*429
1,571,138
800
145,519
125,764
109,839
Total
;
overland
Deduct shipments—
Overland to N. Y., Boston, &c._
gross
„
Between interior towns
589
..
Inland, &c., from South
Total to be deducted.
-
Leaving total net overland ♦_
3,763
381,122
2,666
1,190,016
Including movement by rail to Canada,
a
The
1912-13In Sight and Spinners'
/
Since
Takings.
Receipts at ports to Aug. 8
Net overland to Aug. 8
Southern consumption to Aug. 8-
Week.
16,639
Sept. 1.
9,532,301
2,666
59,000
1,190,016
2,795,000
78,305
—.*12,446
13,517,317
•
33,976
,
726,000
36,000
44,000
495,000
34,000
65,000
463,000
17,000
44,000
509,000
1,197,000
1,165,947
849,000
1,455,106
893,000
764,372
814,000
847,993
2,362,947 2,304,106
1,657,372
1*661,993
10^d.
13 54 d.
10.60d.
ll.OOd.
iom.
9.50d.
6
6 7-16d.
7-16d,
7Md.
6^d.
7 3-16d.
6^d.
.Continental imports for the past week have been 27,000
excess
Came into sight during week..
Total in sight Aug. 8
The above
figures for 1913 show
a
1910.
...
North,
.
spinners'takings to Aug. 8
Decrease during week,
a
.....
16,618
13,551,293
2,455.010
Less than Sept.
1.
/
Movement into sight in previous years.
Week—
Bales.
1911—Aug. 11
1910—Aug. 12......
1909—Aug. 13..
1
QUOTATIONS
OTHER
of
FOR
MIDDLING
COTTON
AT
MARKETS.—Below are the closing quotations
middling cotton at Southern and other principal cotton
day of the week.
markets for each
3,553
1,855,621
592
196,071
103,271
89,495
am
534
487
502
125
2,634
3,351
388,837
202
1,466,784
53,846
36,470
55,314
-1911-12Since
Week.
9,579
202
56,000
65,781
*4,072
Sept. 1.
11,481,337
1,466,784
2,572,000
15,520,121
a 5,605
.....
15,514,516
2,599,343
33,916
Since Sept. 11910-11—Aug.
1909-10—Aug.
1908-09—Aug. 13
Bales.
-
11,810,590
10,413,290
13,583,811
NEW ORLEANS OPTION MARKET.—The highest,
lowest aDd closing quotations 'or leading options in the New
Orleans cotton market for the past week have been as follows:
Sat'day,
Aug. 2.
decrease from last week
;
63
654,324
a248,202
8,458
172,817
128,694
191,902
451,224
61,709
65,859
bales.
of 218,604 bales, a gain of 58,841 bales over4912, an excess
of 705,575 bales over 1911 and a gain of 700,954 bales over
Since
Sept. 1.
1,194
foregoing shows the week's net overland movement has
been 2,666 bales, against -.202 bales for the week last year,
and that for the season to date the aggregate net overland
exhibits a decrease from a year ago of 276,768 bales.
31,000
81,000
_
1911-12
Week.
Revised.
"
77,000
9.85d.
Peruvian, Rough Good,[Liverpool
8.85d.
Broach, Fine, Liverpool
6 l-16d.
Tinnevelly, Good, Liverpool
6%d.
WEEK AND
The results for the
798
57
88,000
8.31d.
12—
10,865:7,805,864
for Louisville, Ky.
669
99,000
15.70c.
27
167,0161
Via Virginia points
Via other routes, &c
96,000
6.77d.
34
22,337
7,36d
Via Cincinnati
Total marketed
12.40c.
50
1,108
17,762
54,773
98,650
50,664
"359
228.884
21,790
92,992
132,502
144,633
385,146
Interior stocks in
6.96d.
875
90
558
7,000
56,000
12.30c.
2,537
1,314
8,631
378
Via Rock Island.
8,000
6.43d.
89
500
2,250
1,684
272
4,347
96,000
12.00c.
2
40
Via Louisville
*
Total East India, -&c
Total American..
79
4,711
Sines
12,000
13,000
46,000
Stock in Bombay, India.
958
1,159
1,194
"938
46
Week
172,000
Egypt. Brazil, &c., afloat..:
Stock in Alexandria, Egypt
668
2,065
""42
431
from telegraphic reports Friday night.
8,000
19,000
31,000
;
25
30,427
656,388
24,084
284,871
8,399
17,1731
968,843
50
12,728 7,166,672
117,000
5,000 4
2,078 19,470
42
576
2,019
710
390
"~8
46
139
2,104
47
19,923
38,458
23,873
~
"600
334
"230
50
"517
3,526
"147
822
16,980
296
"403
95,091
105,502
3
"873
1,930
51
44,598|
13
1,860
371
149
"~74
769
26,931
13,000
45,000
200,000
'
Manchester stock.
Continental stock
India afloat for Europe.*
9,486
9.
26
37,602
*
Liverpool stock.:..".
stock
329,000
62,000
412,000
2,058
Total American
East Indian, Brazil,
London
607,000
23,000
309,000
10
525
Via Cairo
follows:
502,000
143,257'
752
-1912-13-
American-—
Liverpool stock
Manchester stock.,
4,347
August 8
ShippedVia St. Louis
*
Total visible
2,011
Aug.
week and since Sept. 1 in the last two years are as follows:
77.000
64,587
17,000
44,000
509,000
237,365
55,910
3,131
Amcr. cotton afloat for Europe..
up
7,000
224,000
89
91
OVERLAND
12.000
84,000
86,000
2,000
14.000
19,000
168,000
-
1,261
1,200
2,036
8",586
are
66
17
138
.
133,026)
figures
"166
70,588
211,603
32,717
183,988
278,804
546,534
83,845
70,304
67,907
100
100
Stocks
Week.
SINCE SEPT. 1.—We give below a statement showing the
overland movement for the week and since Sept. 1, as made
8,000
32,000
443,000
Total Continental stocks.354,000
Total European stocks
India cotton afloat for Europe
430,000
743,000
17,000
172,000
116,000
Stock at Marseilles
Stock at Barcelona.:
Stock at Genoa
561,000
14,000
31,000
81,000
2,000
17,000
16,000
7,000
6,000
36,000
Stock at Manchester
Stock at Hamburg
813,000
10,000
265.000
133,000
3,000
10,000
12,000
10,000
1912.
724,000
Stock at London
Stock at Bremen
1910.
390.000
8,000
81,000
1911.
501,000
12,000
48,000
1913.
702,000
•Last year's
611
200
45,137
5,301,499
151.138
Paris—._—
Total, 33 towns
1,913
2,150
"16
Honey Grove.
Houston
1,433
1,044
9,425
5,691
2,486
3,605
3,256
318
5",898
Dallas..
THE VISIBLE SUPPLY OF COTTON
up
"232
Ship¬
ments.
25,082
195,873
145,133
652
59,169
18,131
29,387
22,476
570,709
11,498
235,713
30,200
21,311
817,736
7,845
18,091
43,835
.....
Vicksburg..^.
Closing
Season.
102
41,643
Athens
—
11.04-.05 10.97-.98 10.86-.87 10.99-.00 10.92-.93 11 03- .04
Week.
119,810
Atlanta
Closing..
Receipts.
8.
13
Jan.—
Range
Aug.
Week.
200
...
Ark., Helena..
11.11—.23 11.00-.09 10.94-.05 10.96-.09 11.01-.16 11 .03-17,10 94-.23
....
ments.
834
Selma
,11-.13|—
Stocks
5
10 94-.10
—
Movement la August 9 1912.
Ship¬
21,342
6
Ala., Eufaula..
—
Montgomery
Range
Season.
Week.
Nov.—
•
Receipts.
Towns.
August—•
Range
Closing
September—
Range
Monday. Tuesday.
Aug. 5.
Aug. 4.
Wed'day. Thursd'y,
Aug. 7.
Aug. 6.
Friday,
Aug. 8.
11.55-.60 11.47-.52 11.44-.50 11.45-. 48 11.47-.50
® —
11.57-.60 11.52 — 11.40- .44 11.47 •
11.40-.42 11.46-.48
—
@ — 11.19 —
@ — 11.23
@ —
11.28-.30 11.23-.25 11.10-.12 11.23-.24 11.12-.14 11.18-.20
—
Closing
—
October—
Range
Closing
—
11.20-.27 11.11-.20 11.05.-16 11.07-.22 11.10-.25 ll.ll-.21
11.20-.21 11.18-.19 11.05-.06 11.21
11.10-.11 11.16-.17
November—
Closing Qoutations for Middling Cotton
Range
Closing
on—
Week ending
Sat'day.
Monday.
Tuesday. Wed'day. Thursd'y.
Galveston
11
HJi
11%
New Orleans
12
12
12
Mobile
11^
11 11-16
11
Savannah
11*4
11^
12 X
12
12 ys
12^
12%
12.25
Norfolk
Philadelphia
Augusta
Memphis,.
St.
Louis
*
15-16
12.25
12%
12
12 3-16
11 13-16
12
11
11 11-16
11
lh*
13-16
March—■
12
11-16
11^
.
11 11-16
11^
11 13-16
12
12
.
„
12^
<
12
12%
12.25
HMs
12.25
12.25
12%
124
12 %
11%
12%.
11%
12H
12%
11%
12
12
11%
11%
11V
11%
11%
Houston.
12
Little
114*
11%
11-16
Range
Closing
January—
Range
Closing
Friday.
11*
12H
11 Vs
Rock
—
if-. 16 lO.9f-.Ol
@
—
11.15-.17 11
,ol 09 7l.13-.15
December—
Aug. 8.
Baltimore
(§> —
11.15-.17 11.
—
12
"
Range
Closing....
May—
Range
Closing
Tone—
*
Spot
....
■:
■
Options
11.18-.23 11.09-.17 11.01-.13 11-03.-19 11.09-.22 11.09-20
11.18—.19 11.15-.16 11.01-.02 11.17-.18 11.09-.10 11.15-.16
11.18-.24 11.10-.19 11.01-.14 11.04-.19 11.10-.24 11.11-.20
11.01-.02 11.18*.19 11.09-.10 11.16-.17
11.19-.20
1|.16-.17
11.30-.36 11.22-.26 11.11.-21 11.14-:27 11.19-.32 11.23-.27
11.29-.31 11.26-.28 11.11-.12 11.27-.29 11.19-.20 11.26-.27
-1
@ —
@ — 11.26 —
ll.34r.36 11.31-.33 11.15-.16 11.J37-.39 ll.29-.30 ll.36r.37
■
Steady.
Steady.
§uiet.
uiet.
Quiet.
Steadv.
Quiet.«
Steadv>
Quiet.
Steadv.
Quiet.
Ra'lv
s'y
383
,
WEATlffeR
THE \CHRONICLE
REPORTS BY TELEGRAPH. —Our tele¬
Montgomery, Ala.—The season's first bale was received
Aug. 1.
Dry iall the week.
The thermometer has
ranged from 70 to 98, averaging 83.
Selma, Ala.—It has been dry all the week. Average ther¬
mometer 82, highest 94 and lowest 68.
Augusta, Ga.-—There has been rain on three days of the
past week, the rainfall being one inch and eleven hundredths.
The thermometer has averaged 82, the highest
being 96 and
dry weather has prevailed over a large portion of the South¬
Our reports from Texas denote that cotton continues
to deteriorate in Central and Southern sections of the State,
but that in Northern portions prospects are very good.
In
the remainder of the South cotton is doing well as a rule
and in some earlier districts is opening rapidly.
Galveston, Tex.—Portions of Southwest Texas have had
pretty good precipitation.
Deterioration in Central and
South Texas continues very rapid, and unless a general rain
occurs soon the ultimate yield will be curtailed considerably.
North Texas prospects are very good excepting high tempera¬
ture.
August port receipts will about equal last year.
The
week's rainfall has been eighteen hundredths Of an inch, on
one day.
Average thermometer 87, highest 96 and lowest 78.
Abilene, Tex.—Rain has fallen on one day of the past week,
west.
to the extent of six hundredths of
'
an
inch.
the lowest 69.
.
inch.
70
;
.SpartanburgK S. C.—Rain has fallen on four days of the
week, the precipitation being one inch and two hundredths.
ranging from 64 to 96.
Gainesville, Fla.—We have had rain on five days during
the week, the precipitation reaching two inches and
ninetyfour hundredths.
The thermoneter has ranged from 70 to
95, averaging 82.
\V*'--r
Madison, Fla.—We have had rain on three days the past
•
week, the rainfall reaching one inch and seventy-five hun¬
dredths.
Average thermometer 82, highest 91, lowest 72.
Tallahassee, Fla.-—The week's rainfall has been fortyseven hundredths of an
inch, on three days. The thermome¬
ter has averaged 82, the highest being 93 and the lowest 71.
Dyersburg, Tenn.—There has been no rain during the
week.
The thermometer has averaged 83, ranging from
,
.
66
to
100.
^f
Milan, Tenn.—We have had rain on one day during the
week, the precipitation reaching thirty-five hundredths of
•;
hundredths
of
an
inch.
inch.
The thermometer has ranged from 65 to 97,
averaging 81.
vf
Memphis, Tenn.—The crop outlook continues fine.
We
have had rain on one day during the past week to the extent
of five hundredths of an inch.
Average thermometer 83,
highest 95, lowest 72.
;
'
Charlotte, N. C.—There has been rain on four days of
the past week, the rainfall being one inch and
thirty-four
hundredths." The thermometer has averaged 80, the highest
being 94 and the lowest 66.
r
<
I
v
Lumberton, N. C.—Rain has fallen on two days of the week,
the precipitation reaching three inches and eleven hun¬
dredths.
The thermometer has averaged 80, ranging from
an
averaging 85.
Nacogdoches, Tex.—We have had rain on two days of the
past week, to the extent of sixty-eight hundredths of an inch.
Average thermometer 82, highest 98, lowest 66.
Palestine, Tex.—There has been rain on one day of the
week, to the extent of eighteen hundredths of an inch. - The
thermometer has averaged 83, the highest being 96 and
lowest 70..-/* \
'•f \:..'v
' ■
V--V.'
Pgris, Tex.—We have had rain on one day of the past
week, the rainfall being six hundredths of an inch.
The
thermometer has averaged 85, ranging from 68 to 102.
San Antonio, Tex.—Rain has fallen on three days during
the week, the rainfall being one inch.
The thermometer
has ranged from 70 to 98, averaging 84.
'
Taylor, Tex.—We have had rain on two days during the
past week, to the extent of twenty-eight hundredths of an
.
.
<
,
65 to 96.
\ : V\>-v
Raleigh, N. C.—Rain has fallen on three days during the
week, the rainfall being one inch and forty-five hundredths..
The thermometer has ranged from 64 to 92, averaging 78. ;
#
Minimum thermometer 70.
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Weatherford, Tex.—It has rained on one day of the week,
the rainfall being fourteen hundredths of an inch.
The
thermometer has averaged 85, the highest being 100 and
Cotton Takings.
Week and Season.
1912-13.
Week.
■
Okla.—-Dry all the week.
The thermometer
averaged 87, rangingfrom 69 to 106.
/
:
Holdenville, Okla.—We have had no rain during the week.
The thermometer has ranged from 67 to 105, averaging 80.
Marlow, Okla.—It has been dry all the week.
Average
thermometer 87, highest 104 and lowest 71.
Alexandria, La.—There has been rain on one day of the
week, to the extent of forty-two hundredths of an inch.
The
thermometer has averaged 84, highest being 98 and lowest 70.
New Orleans, La.-—We have had rain on. three days the
past week, the rainfall reaching twenty-eight hundredths of
an inchMinimum thermometer 75, highest &A, average 85.
Shreveport, La.—There has been rain on one /d&y the pastf
week, the rainfall being eighty-six hundredths of an inch.
The thermometer has ranged from 70 to 100, averaging 85.
Eldorado, Ark.—It has rained on one day of the week, the
rainfall being forty hundredths of an inch.
Average ther¬
mometer 84, highest 102 and lowest 66.
Helena, Ark.—It has rained on one day of the week, the
rainfall being sixteen hundredths of an inch.
The thermom¬
eter has averaged 84, the highest being 100 and the lowest 68.
Little Rock, Ark.—We have had rain on one day of the past
week, the rainfall being forty-five hundredths of an inch.
The thermometer has averaged 83, ranging from 67 to 100.
Columbus, Miss.—Rain has fallen on one day during the
week, the rainfall being nine hundredths of an inch.
The
thermometer has ranged from 66 to 104, averaging 85,
Meridian, Miss.—Dry all the week.
Average thermom¬
eter 82, highest 96, lowest 68.
Vicksburg, Miss.—The week's rainfall has been three hun¬
dredths of an inch, on two days.
The thermometer has
averaged 84, the highest being 99 and the lowest 72.
Mobile, Ala.—Weather hot, with scattered showers.
The
condition of the crop is good and cotton is opening rapidly.
It has rained on two days of the week, the precipitation
reaching twenty-one. hundredths of an inch. ■ Minimum
thermometer 73, highest 97, average 84.
Ardmore,
has
-
The rainfall reached two inches and
eighty-five
The thermometer has ranged from 67 to
The thermometer has averaged 80,
The thermometer has ranged from 70 to 100,
the lowest 70. '
.
the lowest 59.
,
C
inch.
thermometer
,,
94,
averaging 81.
'
;
Charleston, S. C.—There has been rain on two days of the
week, the rainfall being sixteen hundredths of an inch.
Average thermometer 82, highest 93, lowest 71.
Greenville, S. C.—Rain has fallen on four days of the past
week, to the extent of sixty-four hundredths of an inch.
The thermometer has averaged 77, the highest
being 94 and
Luling, Tex.—It has rained on one day of the week, the
precipitation reaching ninety-six
The
95.
the Week.
-
and the lowest 70.
:
has averaged 82, ranging from
■■vvWashington, Ga —We have had rain on four days during
to
hundredths.
.
Brenham, Tex.—Rain has fallen on one day during the
week, the rainfall reaching ninety-eight hundredths of an
inch.
The thermometer has averaged 85, ranging from 72
to 98.' ,'.r
o<::'
Cuero, Tex.—-Dry all the week.
The thermometer has
ranged from 68 to 102, averaging 85.
Dallas, Tex.—We have had rain on two. days during the
past week, to the extent of fifty hundredths of an inch. Aver¬
age thermometer 87, highest 104, lowest 70.
Henrietta, Tex.—Dry all the week.
The thermometer has
averaged 88, the highest being 104 and the lowest 72.
Huntsville, Tex.—There has been no rain during the week.
The thermometer has averaged 84, ranging from 68 to 100.
Lampasas, Tex.—There has been rain on two days of the
week, the rainfall being ninety-two hundredths of an inch.
Average thermometer 83, highest 100, lowest 66.
Longview, Tex.—There has been rain on one day of the
past week, the rainfall being fourteen hundredths of an inch.
The thermometer has averaged 87, the highest being 104
>:
Savannah, 'Ga.—Rain has fallen on one day during the
week, the rainfall reaching seventy-two hundredths of an
Minimum ther¬
•.
xcvii.
on
graphic advices from the South this evening indicate that
while in many sections there has been rain during the week,
mometer 68.
[Vol.
b
Visible supply Aug. 1__
Visible supply Sept. 1__
1911-12.
Week.
Sea$on.r
2,581,551
2,135",485
American in sight to Aug. 8
65,859 13,551,293
Bombay receipts to Aug. 7
Other India shipm'ls to Aug. 7
Alexandria receipts to Aug. 6__
Other supply to Aug. 6*--_—.~
10,000
2j,486,830
Total supply
Deduct—
100
4,000
333,000
19,000
V
f.ebjuw
61,709 15,514,516
8,000
2,285.000
398,000
18,000
967,800
10,555
278,000
•
2,691,000
519,300
994,300
-
Season.
2,680,510 20,224,378 2,584,539 21,046,734
Visible supply to Aug.
2,362,947
Total takings to Aug. 8.a
Of which American
...
Of which other
2,362,947 2,304;106
317,563 17,861,431
234,463 13,751,831
83,100 4,109,600
2.304,106
280,433 18,742,628
225,433 14,911,828
55,000 3,830,800
*
Embraces receipts in Europe from Brazil', Smyrna, West Indies, &c.
a This total embraces the total estimated consumption by Southern mills,
2,795,000 bales in 1912-13 and 2,572,000 bales in 1911-12—takings not
being available—-and the aggregate amounts taken by Northern and foreign
spinners, 15,066.431 bales In 1912-13 and 16,170,628 bales in 1911-12, of
which 10,956,831 bales and 12,339,828 bales American.
COTTON CROP CIRCULAR.—Our Annual cotton
Crop
ready in circular form about Friday, Sept 5.
Parties desiring the circular in quantities, with their business
card printed thereon, should send in their orders as soon as
possible, to secure early delivery.
Review will be
ALEXANDRIA
RECEIPTS AND SHIPMENTS.
Alexandria, Egypt,
August 6.
1912-13.
1911-12.
1910-11.
7.258,528
7,579,243
Receipts (cantars)—*
This week
Since Sept.
7,457,562
This
Exports (bales)—
To Liverpool
-
To Manchester.
To Continent and
India.
exports
«l
This
Since
Week, Sept. 1.
3,000 206,727
204,760
201,750
4",255 232,050
10,500 391,834
100 118,275
1,000
412,969
124,300,
15,500 948,756' 14,850 943,909
Note.—A cantar is 99 lbs.
,
Since
Week. Sept.. 1.
if,555
To America
Total
500
800
__
1
This
Since
Week. Sept. I.
213,791
219,058
3,250 410,079
123,728
2~,555
5,250 966,656
Egyptian bales weigh about 750 lbs.
Aug, 9
THE
1913.]
CHRONICLE
COTTON CONSUMPTION AND OVERLAND MOVE¬
MENT TO AUG. 1.—Below we present a synopsis of the
for the month of July and the eleven months
ended July 31 for three years:
crop movement
383
Saturday.
Spot.
Monday.
Tuesday.
Wednesday.
Thursday.
Friday.
Moderate
Quiet.
Good
business
demand.
doing.
Market,
Fair
-
12:15
..
•
•
P.M.
demand.
6.46
6.43
8,000
6,000
10,000
500
500
1,000
Mid.Upl'ds
1912-13.
1911-12.
Sales
Gross overland for
July
bales
30.697
24,495
1,663.789
1,850,088
21,115
11,247
1,466,462
1,186,711
57,471
87,223
9,502,333 11,470,115
125,834
131,141
8,471,551 10,378,525
238,680
156,411
2,563,956
2,429,139
2,728,000 2,488,000
Gross overland for 11 months
Net overland for July
Net overland for 11 months
Port receipts in July
Port receipts in 11 months
Exports in July
Exports in 11 months.
Port stocks on July 31
Northern spinners' takings to Aug. 1
Southern consumption to Aug. 1
,
...
16,253
1,317,989
9,018
1.029,823
37,850
8,397,726
77,927
7,435,672
143,827
2,130,791
2,246,000
Overland
to Canada for 11 months (in¬
cluded in net overland)
Burnt North and South in 11 months..
Stock at Northern interior markets Aug. 1
Came in sight during July
Spec.&exp.
143
23,419
301,338
13,465,044
Amount of crop in sight Aug. 1
Came in sight balance of season
Total crop
Average gross weight of bales
Average net weight of bales
147,246
130,112
22
7,777
22,482
17,519
259,718
201,993
15,424,577 11,715,549
618,739
416,783
16.043,316 12,132,332
515.94
490.94
513.60
510.28
488.60
485.28
HOLI¬
HOLI¬
DAY.
DAY.
Easy
Market
pts.
Market,
Quiet
134 @16
P.M.
pts.
JJIlUtJa
ui
Prices
iuiiuoa
are
cuo
The prices are
given in pence and 100Ihs.
Tues.
Mon.
August 7.
Receipts at—
Aug. 2
124!
4
124
p.m. p.m. p.m.
d.
4
Week.
Week.
Sept. 1.
Week.
Sept. 1.
Sept.
1.
10,000 2,691,000
T._
♦'
8,000 2,285,000
For the Week.
5,000 2,475,000
Since September 1,
Exports
Coiut-
Great
from—
Britain,
Great
Japan
&China
nenl.
Total.
Contl-
Britain.
Japan
&
nent.
China,
Total.
1912-13..
1,000
1,000
1911-12..
.
1910-11
23,000
22,000
1,000
—
19,000 43,000
23,000
41,000
12,000
473,000
373,000
1,000
57,000
910,000
1,000
3,000
5,000
3,000
26,000
36,000
65,000
31,000
26,000
19,000
62,000
40,000
1,300
2,000
25,300
921,000 1,435,000
823,000 1,208,000
616,000 1,583,000
1912-13—
1,000
1911-12.
1,000
3,000
1910-11.
4,000
1,000
1,000
^
62,000
Madras—
1912-13.
4,000
1911-12.
3,000
20,000
18,000
1,000
13,000
25,000
28,000
7,000
18,000
9,000
5,000
7,000
71,000
277,000
198,000
284,000
5,000
5,000
1,000
—
.
23,000
300
38,300
124,000
429,000
93,000
313,000
378,000
.
All others—
1912-13.
2,000
2,000
2,000
12,000
1912-13—
3,000
35,000
1911-12.
4,000
3,000
37,000
41,000
7,000
10,000
1911-12..
1910-11—
4,000
22,000
23,000
Total all-
1910-11
glVt3Il
Thus: 6 20
Wed.
means
6-20-100d.
Thurs.
Fri.
p.m.!
p.m.
p.m. p.m. p.m. p.m. p.m. p.m. p.m.
d
d.
6
Dec.-Jan_
_
HOLI¬
HOLI¬
DAY.
DAY.
Feb .-Mar.
Mar.-Apr.
Apr .-May
May-June
June-July
July-Augi
5
5
5
5
d.
d.
124
4
d.
d.
204 16 4
11
074
014 00
974 954
92
904
92
90.4
08
00
96
91
94
91
94
93
92
95
944 93
97
944
97
954
984 97
984 97
98
964
934 96 4
95
974
96
984
•
164 204
114
024
984
97
97
00
00
.
964 994
23
14
05
01
!124
4
d.
I
d.
224 174
144 014
05 4 004
014 964
964 96 4 92
964 964 92
974 974 93
99
99
944
00
954
01
964
024 024 98
024 024 98
02
02
974
8?
4
d.
18
11
014
974
93
93
94
954
97
98
99
99
984
BREADSTUFFS.
Friday Night, Aug. 8 1913. 1
quiet, buyers still waiting for wheat
prices to readjust themselves to what is considered to be?a
sound basis from the standpoint of the bumper yield.
No¬
body expects prevailing levels to hold, and the trade can go
on a hand-to-mouth basis some time
longer.
It is pointed
out that consumption is going on all the while,
and, once quo¬
tations are attractive, a good business is bound to result.
There is greater willingness to sell spring patents at conces¬
sions, but the buyers are wary.
The production last week
at Minneapolis, Duluth and Milwaukee was
364,950 bar¬
rels, against 374,535 in the previous week and 309,215 in
Flour has ruled very
Calcutta—
1910-11
tut)
124 124
6
Bombay—»
.
U-cty
124
Nov.-Dec
Jan .-Feb
Bombay
khaki.u
decline.
i
August
Since
Quiet
3@44 pts.
to
Aug. 8
Oct .-Nov
Since
Since
iui
2@3
upland, good ordinary
Sat.
Aug .-Sep
Sept.-Oct.
1910-11.
at
pts. adv.
clause, unless otherwise stated.
_
1911-12.
24@4
mvcipuui
decline.
.
Barely st'y
pts. adv.
the basis of
on
advanc
Steady at
dec.
500
Quiet but
Steady
st'y, 3 pts. 5@54 pts.
at
14@2
pts. dec.
at
4
J.lit?
Easy
at
10@11
dec.
<
opened
d.
INDIA COTTON MOVEMENT FROM ALL PORTS.
1912-13.
6.43
8,000
,
Futures.
below.
132,724
6.49
.
1910-11.
—
24,000
76,000
02,000
796,000 1,082,3001,954,300
944,0001,606,000
658,300(2,061,300
42,000 ■„ 620,000
144,000 1,259,000
the
same
week last
year.
t
report received by
cable to-night from Manchester states that the market is
Wheat has been firm in sympathy with corn, though fromthe standpoint of statistics and crop prospects prices
might
quiet for
willing to
logically react.
Possibly the market was oversold and hence
resisted such depressing influences as heavy receipts and bull¬
MANCHESTER
both
MARKET.—Our
shirtings/ Merchants are not
We give the prices for to-day
below and leave those for previous weeks of this and last
year for comparison.
and
yarns
present prices.
pay
P—
,
1913.
Cot'n
ings, common
Mid.
32s Cop
Upl's
Twist.
32* Cop
Twist.
to
d.
1912.
"
84 »«• Shirt¬
d. s.
finest.
d.
d
s.
d.
■
■■
.■
d.
d.
84 lbs. Shirt¬
Cot'n
ings, common
Mid.
to
finest.
8.
d.
8.
6
14@11 2
14 @11 2
Upl'S
d.
d
June
20
27
10%
io%
10% 6
io% 6
@
@
6.79 94
24 @11 5
24@11 5
@
6.75 911-16@
104
104 6
6.63
6.62
Tnltr
J Illy
4
10 4
@
11
6
2
@11
6
11
104
104
@
2
@11
6
@
11
11
6
18
6
6.69 10
25
9 15-16
@104 6
14@H 5
1
@11 44
1
9 13-10
@104 6
8
94
04^11
0
@11
6.57 104
6.43
94
.
6.70 94
6.76 10
@ 10 13-16 6
24 @11
@ 10 15-16 6
@ 10 15-16 6
3
4
6.80
@11 5
34@11 5
7.07
6
4
@11 5
7.31
114
6
_@_104
6
44 @11 5
4
@11 4
6.96
6.61 10 1-16
@ 11
7.24
Aug.
@
104.6
SHIPPING
-
34
3
@
7.37
NEWS.—Shipments in detail:
Total hales
NEW YORK—To
Liverpool—Aug. 1—-Carmania, 243—Aug. 6—
Baltic, 1,039 upland, 2 Peruvain
To Manchester—Aug. 1—Iberian, 100
■:
■;
To Havre—Aug. 2—Caroline, 250; Chicago, 123—
■—*/
To Bremen—Aug. 6—Berlin, 1,224..
To Barcelona—Aug. 6—Manuel Calvo, 100
To Genoa*—Aug. 1—Verona, 950
GALVESTON—To Hamburg—Aug. 7—Pallanza, 1,442
To Rotterdam—Aug. 2—Strathleven, 625
Aug. 7—Malmstad, 319
To Antwerp—Aug. 4—Lord Ormonde, 1,252
Aug. 5—Pen¬
rith Castle, 450-.
NEW ORLEANS—To Liverpool—Aug. 1—Californian,
92.^.Aug. 5
1,284
100
373
1,224
100
950
1,442
—
—
—
—
—
944
—
1,702
—
—Wayfarer,1,960—-.
Manchester—Aug. 5—Albanian, 336
Genoa—Aug. 5—Principessa Laetitia, 1,146
To Hamburg—Aug. 7—Arcadia, 297
-—,5k—-
To
2,052
.'
To
336
1,146
297
To Mexico City—Aug. 1—Herm, 750
MOBILE—To Liverpool—Aug. 2—Nicosian, 198
BRUNSWICK—To Liverpool—Aug. 5—Jamaican, 255
BALTIMORE—To Bremen—July 30—Konig Albert, 2,592
Total
750
198
255
2,592
15,745
LIVERPOOL.—By cable fromLiverpool
we
have
the
following statement of the week's sales, stocks, &c., at that
port:
„
July 18.
,
Sales of the week
52,000
2,000
2,000
Of which speculators took
Of which exporters took
Sales, American
Actual export
Forwarded
44,000
*
Total stock—Estimated
Of which American.
Total imports of the week
Of which American
Amount afloat
Of which American—
—
The tone of the
——
_
9,000
82,000
-835,000
645,000
30,000
18,000
66,000
37,000
——
July 25.
52,000
5,000
2,000
44,000
11,000
66,000
792,000
600,000
34,000
18,000
49,000
22,000
Aug. 1.
42,000
3,000
4,000
34,000
3.000
51,000
Aug. 8.
37,000
1,000
1,000
26,000
7,000
76,000
766,000.702,000
566,000
27,000
12,000
39,000
10,000
502,000
19,000
5,000
35,000
10,000
Liverpool market for spots and futures
day of the past week and the daily closing prices of
spot cotton have been as follows:
.
each
ish
crop estimates.
But apart from temporary influences
making for stability, the situation does not seemingly warrant
operations for higher prices.
Farmers are hastening the
wheat to market under the spur of money
scarcity and the
disinclination of the banks to finance holding back
supplies.'
Tho announcement that the Government would
deposit
additional funds in the banks of the South and West
may
encourage the tendency to ship less actively, but this is not
the general opinion, the West being desirous of
obtaining
prevailing prices, lest by waiting less favorable terms
may be secured.
Receipts at primary points continue to
run
heavy—well over 2,000,000 bushels per day.
The
visible
supply east of the Rockies increased for the week
5,197,000 bushels, while for the entire world the gain was
149,000, as against a loss last year of 4,620,000 bushels.
It
should be noted that freer offerings of wheat are not
confined
to this country;
for favorable weather in Russia is having
the same effect.
Germany and England will make average
yields, but France faces a decrease.
In South Australia the
drought appears to be broken, though the situation is still
serious.
The crop indications are steadily growing in the
United States.
Estimates run as high as 767,000,000 bush¬
els, of which 526,000,000 bushels are set down to winter wheat
and 241,000,000 bushels to
spring wheat.
Last year the total
harvest was 730,000,000 bushels, hence a record crop
may be
made.
With Corn looking poorly, this will come in
very han¬
dy to keep the exports up to the average.
Bids have been
rather out of line for export, but the movement is bound to as¬
sume larger
proportions, for, owing to the Balkan War, Europe
needs our breadstuffs more than ever.
The high quality
will tend to facilitate
purchases for Continent alaccount,
especially as countries like Italy need the better grades for
mixing purposes.
We are not alone in being favored by
nature as regards wheat. Canada
says that, with a late frost,
the harvest
^across the border will be 15,000,000 bushels
larger than in 1912.
Harvesting has commenced in Mani¬
toba and the first car of wheat has arrived at
Winnipeg.
The
dry weather may cut into the big estimates for the Ainerican
Northwest, but fortunately the crop is practically made and
threshing results should come well up to the predictions.
Under the circumstances, it is not
surprising that stocks
increase and exporters hold off for lower prices.
To-day
prices were easier reflecting the Government crop report,
which made
of
a
better showing than anticipated.
A yield
744,000,000 bushels is indicated, or 14,000,000 more than
the actual crop of 1912.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat.
Mon.
Tues.
Wed. Thurs.
Fri.
No.
2
red-:.
_
_cts_
September delivery In elevator
December delivery in
^levator
96 4
964
964
954
954
94 4
954
94
954
94 4
984
984
974
974
974.
95
944
974
DAILY
CLOSING
PRICES
OP
WHEAT
Sat.
FUTURES
87 %
91%
96*4
...
CHICAGO.
Fri.
IN
Tues. Wed. Thurs.
Mon.
September delivery in elevator.cts 88
December delivery in elevator
91%
May delivery In elevator.
96%
86 %
90*4
95%
[Vol.
CHRONICLE
THE
384
86%
90%
86%
90
85 %
89 %
95%
95%
94%
Indian corn has been strong in tone but profit-taking
checked the rise, which apparently was too rapid.
It could
not be said that actual conditions, which facilitated the per¬
pendicular rise of 10 points during the past two weeks, had
changed for the better, since drought and high temperatures
were reported from some sections of Kansas, Missouri and
Nebraska.
The first-named State, it was said, would make
only half a crop, even if rain came soon.
Making due allow¬
ance for the usual exaggeration of speculators, it was evident
that the early promise of a record yield had disappeared.
The "Price Current" said 2,652,000,000 bushels for the crop,
though a bank estimate was larger—2,800,000,000 bushels.
Probably, when all is said, an average yield will be secured.
World exports naturally feel the effect in a total of 5,463,000
bushels, which compares with 7,599,000 in 1912. and the
visible supply fell off 1,428,000 bushels, comparing with
1,185,Q00 last year.
Statistics are favorable but on the
other hand, the technical position of the market is seemingly
weaker, as the bulls have over-bought.
At least, the fever¬
ish reactions are open to this inference.
Then, too, showers
are reported, and, though scattered, they may be the forerun¬
ner of saving rains in the dry belt.
The bulls are nervous
and watch the weather map carefully, since a general down¬
pour might cause a bad break, this being the usual aftermath
of wild speculation.
To-day prices advanced 114c., re¬
flecting the continued drought, which was not relieved by
local showers.
The Government report was about as bad
as
expected, indicating a yield of 2,672,000,000 bushels,
a falling off of 300,000,000 bushels for the month and a de¬
crease
of 450,000,000 bushels from the actual harvest of
xcvii.
The yields indicated by the condition of crops on Aug. 1 1913, and final
yields in preceding years, for comparison, follow: «.
Total Production in Millions
Crops—
Corn
*1913.
25.0
29.2
al6.5
15.1
17.2
15.9
_
Winter wheat
Spring
-Yield per Acre1912 1908-12
Final.
Avge. *1913.
wheat-
12.5
*
All wheat
15.0
Oats
26.8
Barley—
Rye
20.1
White potatoes
92.0
Tobacco, lbS—___——783.0
Flax
2,531
2,552
400
330
730
430
418
1,028
1,418
224
36
29.7;
191
265
621
683
922
160
1,007
173
24.5
168
16.8
16.2
a35
21.0
17
19
18
15
96.1
339
421
293
389
822.3
896
963
905
1,056
28
'
785.5
>
33
30
8.3
9.8
8.2
20
33.1
34.7
25
19
23
1.47
33.7
1.38
27
1.33
64
73
55
...
Rice
Hay, all tame, tons.
3,125
fl511
233
744
22.9 ;
113.4
!al6.3
-
Final. Census
2,672
13.3
14.5
37.4
29.7
23.1
—
Buckwheat
26.5
15.2
of Bushels.
1912
1911
1909
Final.
20
22
r
69
*
Interpreted from condition reports,
a Preliminary estimate.
The average quality of winter wheat this year is 93.7, against 90.7 last
year and 91 the 6-year average (1907-12).
The quality of rye this year is 94, against 94 last year and 92.2 the
10-year average.
The amount of oats remaining on farms on Aug. 1 is estimated at 7.3%
of last year's
crop, or about 103,900,000 bushels, as compared with 34,872,000 bushels on Aug. 1 1912 and 67,793,000 bushels on Aug. 1 1911.
;
The statements of the movement of breadstuffs to
indicated below
market
prepared by us from figures collected by
Exchange.
The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been: ;>
are
the New York Produce
Receipts
Flour.
at—
Wheat.
Barley.
Oats.
Corn.
Rye.
bbls.imbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. buM lbs.
Chicago
168,000
4,849,000
798,000
75,000
105,000
399,000
105,000
747,000
243,000
74,000
61,000
58,000
79,000
Milwaukee—
Duluth.....
126,000
83,000
240,000
82,000
45,000
39,000
37,000
1,000
5,000
228,000
1,671,000
230,000
1,847,000
272,000
Kansas City.
89,000
2,572,000
300,000
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat.
Mon.
Tues.
Wed. Thurs. Fri.
Omaha..
1,238,000
442,000
350,000
410,000
62,000
88,000
52,000
420,000
442,000
193,000
205,000
Cash
Tot.
12,224,000
6,538,189
7.457,250
2,340,000
2,030,784
2,226,312
4,123,000
2,722,232
5,630,835
12,224,000
6,538,189
2,340,000
2,030,784
2,226,312
4,123,000
2,722,232
5,630,835
714,000
224,330
303,446
223,000
Minneapolis.
Toledo...
_
"
LOOO
Cleveland...
13,000
70,000
49,000
St.
Louis
Peoria
1912.
corn
DAILY
'
...
CLOSING
cts. nom.
PRICES
;
OF
Sat:
.
nom.
nom.
nom.
nom.
nom.
Same wk. '12
Tues.
Wed. Thurs. Fri.
Same wk. '11
69%
69%
70%
10*4
72
68 %
68%
65 %
67
69%
66 %
68%
67 %
69
Mon.
67%
Since Aug.
1913
though the news
was not especially stimulating in
character.
Bullish esti¬
mates are nothing new, a prediction of only 900,000,000
bushels being given out by one expert.
There is undoubtedly
material damage, but the worst, at least, is known, and sub¬
sequent advices may put a better face on matters. The
receipts are larger and the quality good, especially as reported
from the threshing in the Northern sections.
On the other
hand, there is a more active inquiry from the East and the
visible supply shows a large decrease. The figures for the week
note a falling off of 1,025,000 bushels, as compared with only
285,000 last year.
The "Price Current" says that the total
crop in this country will apparently be only 785,000,000 bush¬
els. v The cash demand is light, as buyers are inclined to wait
for developments, being of the opinion that the price might
be adversely affected should the corn market break badly.
A larger movement would be a logical sequence.
To-day
prices were higher in sympathy with corn.
The Govern¬
ment crop report was rather better than expected, pointing
to a yield of 1,028,000,000 bushels, or about 390,000,000
less than last year.
".-V
CLOSING
Sat.
PRICES OF OATS IN
Mon.
"
Mon.
September delivery in elevator _cts 42 %
44%
May delivery in elevator..—* 47%
December del very in elevator
The
following
are
42%
44%
47%
Tues.
Wed. Thurs.
41%
41%
44
44%
47-
47%
42%
York
Boston
Philadelphia
Baltimore
New Orleans
Newport
News..
Galveston
44%, 44%
47%
47%
closing quotations:
bbls.
bush.
1,760,000
357,000
724,000
1,011,000
1,200,000
1
'
—
...
Mobile
—
-
—'
—
28,000
101,000
Montreal..
St. John
*
on
1913.
*
S3 10@$3 50
5 40@ 5 75
4 25 @ 4 40
4 10 @ 4 35
4 85© 5 10
4 60@ 4 75
Winter clears
Spring patents
Spring straights
.'..$4 00@$4 25
_
Kansas clears,
sajcks.
3 75
sacks
4-40
4 00
4 25
_
5=95@ 6 50
3 50© 3 85
4 00@ 4 75
City patents....
Rye flour
Graham flour.
'
AGRICULTURAL
Rye, per bushel—No.
2—.—
—
•
DEPARTMENT'S
69
—.
Pennsylvania
Barley—Malting.
'
Nominal
60@61
REPORT
ON
CEREAL CROPS, &c., TO
AUG. 1.—The Agricultural De¬
partment issued on the 8th inst. its report on the cereal
crops for the month of July as follows:
Crop Reporting Board of the Bureau of Statistics of the United
from the reports of the cor¬
respondents and agents of the Bureau, as follows:
The
States Department of Agriculture estimates,
For the UNITED
Corn
1913.
75.8
_
Winter wheat
Spring wheat
July 1
74.1
90.4
80.4
Oats
73;7
90.3
81.5
73.8
78.6
76.3
101.1
Barley
Rye.
74.9
89.1
83.0
76.6
96.3
All wheat
88.6
97.0
108.3
108.8
106,884,000
30,938,000
18,663,000
49,601,000
38,341,000
7,255,000
2,134,000
841,000
85.5
88.4
89.9
87.8
84.1
86.2
99.3
"3,685,000
82.8
82.8
93.4
:„.77.4
..88.7
87.5
81.9
82.9
82.0
85.1
86.3
88.8
88.4
114.0
81.8
52.2
91.0
65.8
*84.354.5
80.5
97.5
1,144,500
2,425,000
824,100s
48,293,000
Tobacco
Flax
Rice
Hay, all tame
Apples
*
Five-year
,
average.
100
59.4
.
•
58,000
'
.....
a,-- —
'
1,399:666
;
15,000
12,000
64,000
28,000
■
1,153,000
84,000
.....
-----
.....
258,000
223,000
.....
77,000
2130,000
2,542
291,119
tot foreign ports
■'.■;> ;;
<
week
The exports from the several seaboard ports for the
ending August 2 are shown in the annexed statement:
Wheat,
'bush.
1,039,258
York
412,000
_
—
Total
4
882:665
8,000
bush.
187
42,904
......
>
Corn-
1913.
Since
Since
Week
July 1
Week
.
Wheat
Wheat-
Flour
1,010
for the week and since
The destination of these exports
_
187
347,652 102,044 307,656
95,940
.....
16,688
July 1 1913 is as below:
*
42,000 222,000
242,000
218,900 192,092
69,892 174,405
week..-.3,897,865
-.1,667,337
■
bush.
85.656
84,000
1912
■
bush.
17,140
1,000
28,000
51,000
54,000
—
.
Peas,
bush.
hush.
44,520
60,132
306,000
Mobile-.'
Montreal
Barley,
•3,000
News..
Galveston
bbls.
9,000
3,357
17,000
1,196
9,000
429,340
Orleans
Week
•
72,825
7,910
415,267
330,000
a
Newport
bush.
146,704
Rye,
Oats,
Flour,
Corn,
<
— — — —
.
■
Aug. 2.
; bush.
Week
July 1
July 1
1913.
Aug. 2.
1913.
Aug. 2.
bbls.
United Kingdom—. 91,654
Continent:-.,.
32,395
Sou. & Cent. Amer. 23,076
West Indies..
41,783
Brit. No. Am. Cols.
2,826
Other Countries
358
bush.
bush.
bush.
360,551 2,280,832 10,326,843
186,486 1,602,023 " 6,693,273
8,000
146,042
127,854
7,010
13,010
164,806
3,486
20,000
3,403
8,000
141,111
134,270
348,243
190,036
75
2,415
....192,092
....174,405
846,586 3,897,865 17,199,168
732,719 1,667,337
7,950,024
218,900
69,892
1,001,913
322,029
Exports forweek and
since July 1 to—
Total
Total
1912
The
bbls.
world's shipments of wheat
and
3,176
66,538
326,829
120
corn
for the week
ending August 2 1913 and since July 11913 and 1912 are
in the following:
shown
Corn.
<—
Acres.
potatoes..78.0
78.3
Buckwheat
White
1913
-Acreage,
1913. P.C.of 1912.
86.9
99.8
116.4
81.6
— — —
■'
— —
Wheat.
1—
1912. 10-j/r. Avg
82.2
80.0
21,000
28,000
2,000
26,000
'-----
Receipts do not Include grain passing through New Orleans
STATES:
—Condition Aug.
Crops—
bush.
bush.
51,000
295,000
-126,000
80,000
35,000
37,000
-
— --
State and
RV.
Barley,
bush.
bush.
Since
Corn, per bushel—
No. 2
a .elevator Nominal
Steamer.;
.elevator Nominal
No. 3..
;
..c.i.f. Nominal
87,010
104,840
'
GRAIN.
Wheat, per bushel—f. o. b.
N. Spring, No. 1
$0 97 %
N. Spring, No, 2--.-_._
95%
Red winter, No. 2
"
95
Hard winter, No. 2
95%
Oats, per bushel, new—
" cts.
Standards
.48 @48%
No. 2, white
49
No. 3
47@48
87,010
104,840
Oats,
Corn,
130,000
1,000
15,000
53,000
W
through bills of lading.
St. John, N. B—
Spring clears.
Kansas straights,
223,000
461,000
FLOUR.
Winter, low grades
Winter patents
Winter straights
714,000
224,330
303,446
4,000
7,688,000
330,000
832,000
309,000
Since Jan. 1 1913.12,688,000 103066,000 42,630,000 33,933,000 14549000
Total week 1912. I
287,417
2,805,339
249,658
844,678
51,699
Since Jan. 1 1912. 9,820,293 65,856,903 25,374,988 27,816,469 3904,797
Total week
Baltimore..
42%
11:666
grain at the seaboard ports for
follow:
Wheat,
Flour,
166,000
33,000
37,000
41,000
52,000
3,000
Receipts at—
New
New
Fri.
7,4157,250
Total receipts of flour and
Philadelphia
.
5,000
28,000
the week ended August 2 1913
Boston
47%-48
48-48%
48%, ;;
49
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat.
382,000
285,126
328,745
1911.....
New
Fri.
.
209,000
"3:660
1
Exports from—
YORK.
.Thurs.
Wed.
Standards._._ cts47-48
48%
47%-48
No. 2 white
48% 47-48 46%-47%
48%
Tp.es.
48
NEW
26,000
38,000
'
382,000
285,126
328,745
1912
Oats have followed in the track of corn,
DAILY
wk. '13
FUTURES IN CHICAGO.
CORN
September delivery in elevator .cts 69%
December delivery in elevator
66 *4
May delivery in elevator....—68%
■
_
Detroit.....
13,000
•
Week
Aug. 2.
Bushels.
North Amer. 5,680,000
Since
1.
July 1.
Aug. 2.
Bushels.
Bushels.
July
24,130,000
6,788,000
Danube....
288,000
Argentlna—
576.000
Australia
456,000
1,000,000
56,000
1,960,000
3,308,000
3,800,000
10,440,000
358,000
9,488,000'
50,784,000
Qth. countr's
Total.;
Week
Bushels.
Russia—r. 1,432,000
India
Since
.
1912.
1913.
1912.
1913.
Exports.
153,000
13,152,000
459,000
8,999,000
306,000
2,992,000
10,926,000 4,545,000
1,912,000
12,112,000
Since
July
1.
Bushels.
Since
July
1.
Bushels.
„
410,000
1,846,000
2,049,000
i.eTs'.ooo
29,247,000
4,370,000
28,978,000
33,552,000
34,963,000
810,000
50,903,000 5,463,000
AUG. 9
The
quantity of wheat and
mentioned
was
CHRONICLE
THE
1913.]
afloat for Europe
corn
on
-1913Since
dates
follows:
as
385
New York to August
2—
Week.
Great Britain—
150
Other Europe
Corn.
Wheat.
United
United
Kingdom.
Total.
Continent.
China
-
India.
-
Continent.
Total.
Africa
Indies
West
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
Aug. 2 1913- 19,880,000 12,456,000 32,336,000 11,654,000 20,553,000 32,207,000
July 26 1913.. 20,920,000 12,800,000 33,720,000 13,575,000 23,044,000 36,619,000
Aug. 3 1912.. 24,320,000 13,624,000 37,944,000
9,282,000 23,163,000, 32,445,000
Aug. 5 1911.. 24,088,000 13,480,000 37,568,000
4,276,000 5,007,000 9,283,000
Mexico
^
—
...—.....—
Total
visible
The
supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports August 2 1913 was as follows:
-;
UNITED STATES
;
*
"
Amer. Bonded
Amer.-
Wheat. Wheat.
-
bush.
■
...
Boston
_
New Orleans
.
bush.
169
87
932
303
20
38
1
1
197
94
4
466
'■'mmmm
98
4
48
163
----
mmmm
155
147
----
Galveston
mm
910
452
Detroit..
194
"
mm
373
afloat.
Milwaukee
1,460
Duluth
Minneapolis.
1,633
4,504
Kansas City..
Peoria
mm
■
341
.
.
On Lakes
-
-
mm
14
/
mmmm
3,033
8,974
mmmm
49
:
mmmm
25
448
11
985
1
2 1913.
.37,678
Total Aug.
3 1912. .18,761
Total Aug.
5 1911. .45,881
''mmmm
m'm
114
mmmm
'mmmm.
mm
65
mmmm
*
mmmm
mmmm
■m m
'mm
12
31
49
440
7
974
mmmm
93
197
131
592
mmmm
11
4
"'■*
mmmm
30
mmmm
148
243
mmmm
2
461
■mmmm
346
104
mmmm
203
892
mmmm
28
20
"mmmm
488
229
mmmm
31
78
mmmm
110 V
233
mmmrn
1,196
1,429
1,839
Total July 26 1913. .33,082
*
■
mmmm
•••
mmmm
16
1
•
mmmm
/
1,867
mm m .
On Canal and W I
Total Aug.
18
160
mmmm
445
50
288
+ mm
mmmm
mmmm
6
90
980
Omaha
mmmm'
15
mmmm
59
m mm
:
mmmm
10,628
_
St. Louis
Indianapolis.
-
-
■mmmm
mmmm
;
—
m
98
41
5,384
.
__
•
.
.
.....
-
■
1,456
mmmm'
3,930
.
....
7
40
mm
15
mrnrnm
1,072
-
—
116
59
6
'
Buffalo.
Toledo.
Chicago
-
bush.
495
_
Rye. Barley. Barley.
bush.
bush.
Oats.
bush.
1,113
1,575
—
_.
Baltimore
Amer. Bonded
Amer.
Oats.
bush.
New York
Philadelphia.
-
Amer. Bonded
Corn.
bush.
•
■
-
GRAIN STOCKS.
mmmm
mmmm
6
mmmm
mm'mm
mmmm
mmmm
mmmm
mmmm
40
6,389 17,131
7,817 17,641
*991
2,451
6,005 13,000
533
382
542
375
1,319
1,487
168
243
338
45
43
68
*
22
669
....
4
CANADIAN GRAIN STOCKS.
Canadian Bonded
Wheat. }Vheat.
bush.
bush.
Montreal
v
Canadian
Oats..
Oats,
bush.
bush.
bush.
20
973
-
2,021
Total Aug.
2 1913.
1913.
3 1912.
5,564
6,841
8,069
Total Aug.
5 1911.
5,397
Total Aug.
Total July 26
1,739
3,685
1,967
Ft.William & Pt.Arthur 2,570
Other Canadian...
Bonded
Corn.
Canadian
Bonded
Rye. Barley. Barley,
bush.
bush.
50
444
7,391
50
444
7,867
4,188
4,231
50
509
Bonded
American
Canadian..
Total Aug.
....
Bonded
Bonded
Oats.
Oats,
bush.
bush.
bush.
bush.
bush,
btish.
.37.678
1,196
6,389 17,131
533
382
1,319
45
5,564
....
50
444
533
432
1,763
45
542
425
1,996
43
168
243
344
68
22
700
2 1913. .43,242
1913. .39,923
Total July 26
Total Aug.
3 1912. .26,730
Total Aug.
5 1911. .51,278
1,196
1,429
1,839
THE DRY
6,409 24,522
7,823 25,508
2,456
5,179
6,593 17,231
GOODS
....
Rye. Barley. Barley,
Friday Night, Aug. 8 1913.
Owing to the presence of numerous buyers, the dry goods
trade during the week has been quite active.
Jobbers ex¬
satisfaction with the business which retail buyers are
placing, and say that the interest which they are showing in
all lines for late fall and coming spring reflects confidence in
the future, regardless of the prospective changes in the
press
In primary cotton goods
the feature of interest is
the easier
tendency in the price of cotton and its probable
effect upon finished goods values.
Mills and selling agents
are reported to be considering a slight revision downward in
prices of staple lines for distant delivery, basing their calcu¬
lations upon a price of about 113^c. for spot cotton during the
fall.
Considerable interest, is shown in. the offering of
standard lines of staple ginghams for spring 1914, at prices
which are approximately the same as a year ago.
While
prices named show some reductions from receht levels, it
was expected that they would be
lower, owing to the poor
season
which has just been experienced.
Prices for dress
ginghams will have to be made very attractive to promote
sales,, as cotton wash dress fabrics are expected to be just
as popular next spring and summer as
they were during the
current season, and manufacturers are expected to
greatly
increase their output.
Export business is quiet and no en¬
couragement is held forth in this department for the near
future.
Shipments are still going forward for China on old
orders and mills have considerable business booked with
that market for the remainder of the year.
In view of this
and the fact that the movement of goods to the interior is
very slow, it is doubtful when China will resume buying.
In woolens and worsteds interest centres in new
spring lines.
The opening of spring dress goods is still delayed, and it is
not now thought that initial prices will be named much
before September first.
The reductions in the opening
prices on men's wear have tended to greatly increase the un¬
certainty felt by dress goods manufacturers concerning values
for the
In men's wear, business so far for next
been confined to well-defined needs and chiefly
new season.
spring has
on staple lines, little attention
hayiiig been given to fancies.
DOMESTIC, COTTON GOODS.—The
exports of cotton
goods from this port for the week ending Aug. 2 were 9,714
packages, valued at $569,638, their destination being to the
points specified in the table below:
In many
are
inclined to believe that
cheaper in the fall, and consequently
raw
material is
willing
delivery.
are more
WOOLEN GOODS.—While not
particularly active, a fair
passing in markets for men's wear.
Merchants
who do not expect that their staple business will be changed
much by the tariff schedules, or at least as far as their
spring
trade is concerned, are placing fair orders.
There are others
who are doing very little, preferring to wait until the tariff
is out of the way.
In view of the low condition of stocks,
however, predictions regarding the future are optimistic.
Dress goods are moderately active.
business is
TRADE.
New York,
tariff.
for domestic cottons continues better than usual.
instances.jobbers are said to be sending orders for goods not
due until- Sept. 1.
In fact there is so much of this kind of
trading reported that a number of houses are advising their
clients to place orders ahead with mills if they desire to pro¬
tect their needs during September, instead of relying upon
finding what they require for quick shipment when the time
comes.
Mills have been forced to curtail production on
account of various conditions, including labor troubles, and,
with tariff uncertainties, there has been little or no accumula¬
tion of supplies.
The fact that retailers are displaying more
interest in near-by requirements is taken to indicate that
stocks in their hands have been reduced to very low levels
and that they are obliged to enter the markets.
Temand for
bleached cottons continues active, colored goods are rather
quiet, while wash fabrics are moving well, with spot sales
above the average and for late delivery larger than a year
ago.
Staple ginghams for forward delivery are selling
moderately well as new price levels appear to be sufficiently
attractive to induce some buyers to place quite liberal or¬
ders.
As regards dress ginghams, the trade for next spring
is irregular, with the well-known brands selling at 10c. a
yard reported as the best sellers.
Print cloths and converti¬
bles have developed an easier undertone, as a number of
a
Corn.
7,391
15,935,318 in 1913, against $16,623,526 in 1912.
As a result of light supplies and the fact that merchants
are
in need of quick deliveries of goods, current demand
granting of concessions on late deliveries has also had
sympathetic effect on prices for spot goods.
Gray goods,
38^-inch standard, are quoted at 4% to 5c.
6
31
bush.
20
39
334
799
The
bush.
.
260,614
392
792
507
to offer concessions in order to book business for late
SUMMARY.*
Wheat. Wheat.
9,147
798
790
713
22,952
1,575
9,735
33,260
The value of these New York exports since Jan. 1 has been
to be
*
■
3,239
7
2,420
17,722
—9,714
-
manufacturers
6
588
....
39,566
203,667
746
46,044
9,302
21,686
....
20
5
bush.
....
—
Jan. 1.
8
3,229
1,303
48,344
19,041
36,895
17,580
29,300
1,910
13,538
43,849
45.625
---
Central America.
South America
Other, countries...
Since
Week.
1,079
149
6,721
17
> 100
81
805
Arabia
Kingdom.
1912——
Jan. 1.
FOREIGN
DRY
GOODS.—Notwithstanding the fact
are prompting
many buyers to con¬
that tariff uncertainties
fine
purchases to near-by needs, demand is broadening and a
satisfactory business is being placed in staple goods for next
spring delivery.
Prices are steady and are expected to con¬
tinue so, as stocks in first hands are light.
Requests for
napkins, towels and white dress linens have been numerous.
Burlaps developed decided firmness during the week.
De¬
mand has been general and with light stocks,
together with
cables advising sharp advances in the Calcutta
market,
prices have moved upward.
Lightweights are quoted at
6.25c. and heavyweights at 7.75c.
Importations and Warehouse Withdrawals of DryGoods
The
importations and warehouse withdrawals of dry goods
this port for the week ending August 2 1913 and since
Jan. 1 1913, and for the
corresponding periods of last year,
at
as
were
follows:
Imports entered for Consumption for the Week and Since Jan, 1.
Week Ending
Aug.
Pkgs.
2
Manufactures of—
Wool.
Cotton.
_____
r_ ——
—
Flax
804
204,472
2,410
1,627
769,807
628,602
160,764
174,802
7,231
7,144
1,938,447
1,961,453
1,612
778
Miscellaneous
Total
1913
Total 1912
Manufactures of—
Wool
withdrawals
—
Entered for consumption
---
Total marketed 1913
Total marketed 1912.
66,312,713
68,478,402
104,365
295,112
1,343
116,640
138,965
66,427
17,448
65,515
3,691
7,231
721,509
1,938.447
119,211
17,382,083
279,788
66,312,713
10,922
9,481
2,659,956
2,487,636
398,999
461,799
83,694,796
85,196,556
Manufactures of—
Wool
Cotton
—
Flax
„
Miscellaneous
....
——L__
Entered for consumption
imports 1913.
Total I mpprts 1912
__
—
—w—_
Market.
900
,ImPorts Entered for Warehouse
Total
77,592
279,788
313,453
336
659
Miscellaneous
Total
Value.
4,212,187
23,333,997
19,401,976
12,138,520
7,226,033
453
Flax
Silk
17,701
83,782
44,788
55,925
Withdrawals Thrown Upon the
Cotton—
Silk.
Total
Since Jan. 1 1913.
Pkgs.
$
„
Warehouse
1913.
Value.
9,730
20,385
2 402,350
6,133
2,487,812
3,624,095
2,906,175
During Same Period.
720
182,557
15,503
1,131
319,688
174,852
26,407
396
669
1,252
4,168
7,231,
.11,399
---10,014
5.961,651
123,537
174,445
7,296
22,551
77,157
3,648,584
7,527,926
2,860,957
4,938,191
3,280,207
975,079
1,938,447
148,914
279,788
22,255,865
63,312,713
2.913,526
2,480,104
428,702
462,942
88,568,578
85.524.255
CHRONICLE
THE
386
Page.
OlTY B£f^TPWT,
Swi m®
310.-Alliance,
Ohio
251 .-Angelina
Co.
_
Subscription—Payable in Advance
$10 00
6 00
For Six Months
• 7
£2
»1
$11
-
50
14s.
11 a,
50
railway amd Ijtotjbtmal
Bleotkw Railway
State and City
BAKKESff ConyBNTioH
(semi-annually)
Terms of
(3 times yearly)
Standing Business Cards
(
Two Months
Three Months
Texas
189.-Athens
$4 20
22 00
(8 times)...
(13 times).
50 00
8700
(26 times).....
Twelve Months (52 times)...
Shepherd, 511 Mooadnock Block; TeLHarriaon4012.
London OfficerEdwards & Smith, 1 Drapers' Gardens, E. C.
County, Ohio
'
Texas
—
SALES IN JULY.
MUNICIPAL BOND
Municipalities in the market for funds during July experi¬
enced even more difficulty in being accommodated than in
the four months
preceding.
rates of interest
in order to place
cases
some
where
even
The plan of
bidder.
"over the counter,"
It
to offer high
was necessary
new
There
issues.
were
5% bonds failed to attract a single
selling bonds in small denominations
which started with the falling off in the
resorted to quite successfully last
The city of Cincinnati,
three weeks placed over $700,000 bonds in this
The
securities bear 4^% interest and had
demand by dealers, was
month by
in
about
manner.
two prominent cities.
failed to sell at
at
public sale.
On July 31 Utica, N. Y., offered
popular subscription $90,000
43^s which it
In this
dispose of at public sale in June.
unable to
the issue was
was
case
oversubscribed $40,700, there being about seventy bidders.
The loans offered without success in July
over
2534} millions, but included $11,458,000 bonds of the
over
while
State of Tennessee,
tained in the
-
amounted to
Similar unsuccessful offerings in June totaled
15 millions.
no
issue of this proportion is
con¬
mentioned for July.
sum
Including "over-the-counter" sales, sinking fund takings,
private sales and purchases by the State funds of Texas, Min¬
nesota and North Dakota, long-term municipal bonds sold
during July amounted
to only $20,565,442.
Temporary
loans negotiated last month reached a total of $31,845,414.
New York City sold. $5,000,000 "general fund" bonds to Its
In the Dominion of Canada the sales
sinking fund.
aggre¬
gated $9,136,393, including loans of £510,000 by Vancouver
by Winnipeg, the latter being placed in London.
In the table below we give a comparison of all the various
and £690,000
forms of securities put out
1913.
in July of the last five
1912.
|<
:
1911.
$
S
.
years.
1910.
1909.
I
s
(TJ. S.).20,565,442 30,479,130 42,231,297 35,832,789 20,120,647
13,439,445 17,903,367 8,135,671 5,295,248
5,527,971 2,127,241
1,532,313 35,144,492
BondsolU.S. Possessions
None
None
1,500,000
425,000
None
Gen. fund bonds(N.Y.C.) 5,000,000
None
None
4,000,000 <
None
Permanent loans
Temporary loans (U. S.).31,845,414
Canadian loans (perm't). 9,136,393
Total
...1.-66,547,249 49,446,546 63,761,905 49,925,773 60,560,387
-
The number of
municipaiiaites emitting long-term bonds
and the number of
separate issues during July 1913
were
respectively. *. This contrasts with 420 and 611
for June 1913 and with 511 and 6M for July 1912.
324. and 556,
For
comparative
purposes
we
add
the following table
showing the aggregates for July and the seven months for
series of years.
issues
by Canadian municipalities, are excluded.
Month of
July.
1913
1912—
•1911
1910
1909
1908
1907
1906
$20,565,442
30,479,130
42,231,297
35,832,789
20,120,647
21,108,678
16,352,457
25,442,095
10,878,302
33,233,254
15.670.240
1905
1904
1903-
For the
Seven Mos.
$234,780,446
276,768,423
265,493,667
198,678,899
227,245,964
190,191,257
131,700,346
127,780,340
122,601,356
171,102,409
95.246.674
Month of
amount
case
of
1902
1901
1899
1898-.
1897
1896
1895.
1894
18931892
'
list of July loans to the
$20,565,442, issued by 324 municipalities.
of each loan reference is made to the
"Chronicle" where
;
For the
July.
Seven MosJ
$12,861,550 $100,489,945
8,262,495
69,485,555
8,104,043
86,047,708
18,613,958
81,959.334
7.868,563
51,947,110
17,389,859
90,665,236
5,313,495
48,490,459
15,374,660
72,366,273
8,253,237
74,680,229
1,691,600
34,354,715
4.139.100
53.232,391
1900
In the following table we give a
the
a
In these figures temporary loans, and also
'
an
account of the sale is
in the
given.
JULY BOND SALES.
Page.
"
Name.
310.-Adams County, Ind
251--Akron Twp., Minn189--Albion Sch. Dist.,INeb—.
page
In
•°
5
5
5
<11914-1953
<11918-1933
4,000
25,000
6,000
70,000
10,000
6,000
100
100
100.50
100
100
101
1914-1928
21,000
102.466
<11924-1942
2,000
;
5
.
5
6
1923
<11914-1923
'
6
5
1914-1917
<21918-1953
Mex-_
—
5
<11933-1953
6
al929
Maturity.
Amount„
4)4
6
5
1914-1923
1914-1918
<*1923-1943
$27,220
2,500
55,000
Price.
100
99.348
f
-
-
-
al919
;
6
<11923-1933
5
<11933-1953
100
100
101.267
100
100
3,000
100
5,000
102
118,000
•,
.
3235112
1
—
390-Big Valley S. D., Cal.
311—Billerica, Mass
189—Binghamton, N. Y
,—
311—Blue Ridge Ind. S. D.t Tex_—
390—Blue River Sch. Twp., Ind
251—Bluffton, Ind
311.-Bogota Ind. S.D.,Tex_
390--Boone County, Ind
251—Bosque Co. Com. S. D. No. 13,
—__
—-
Texas—
—
—
390--Bremen, Ohio
189.-Bridgeport S.D., 111
311—Brighton Com. S. D.
N. Y. (2 issues)
4
6
4)4
4)4
1914-1923
5
<11923-1953
6
al916
4)4
5
<11923-1953
4)4
1914-1923
5
100
135,000
35,000
5,130
150,000
65,000
100,000
55,000
100
3,500
1/97
4,000
100
40,500
2,000
22,000
73,000
100
100
No.
100
100
100
100
...
1914-1933
3,000
6,000
100
102
30,000
100
—
—
7,900 1/100.189
20,000
100
1915
1918-1928
1933
1914
4%
5
4Yi
4)4
8,400
20,000
30,000
63,000
138,000
6,000
-
N.
189—Cambridge,
al919
6
5
—
Mass
390..Camden, Ohio
----252.-Canton, Ohio (21 issues)
189—Canyon Sch. Dist., Cal.—
129--Carl Junction S. D., Mo..-..
311.-Carteret County, No. Caro
252—Celeste Ind. S.D., Tex
4
129.-Chattanooga, Tenn
187,2001
100.159
'23-'33<fc'43
205,800 f
2,500
100.44
14
6
—
194,300
5)4
1,400
13,000
5,000
2,400
dl923<-1933
1923
<11923-1933
5
6
5
1914-1918
<11914-1923
<*1928-1953
•
■
'
391—Eastwood, N. Y___—
311—Eddy Ind. S. D., Tex
5
312—Edna Ind. S.D., Tex.
5
391—Eldon Ind. S. D., Iowa
312- Eiida School District, Ohio5
312L-Euclid, Ohio
i
190
Eugene, Ore_
—
6
312—Eureka, Mont. (2 issues)..,
6
252--Falls County Line Com. School
District No. 55, Tex
5
312—Findlay, Ohio
5
312—Findlay, Ohio.
—5
190—Floyd County, Ind
4)4
130--Floyd County, Ind
i—,— 4)4
130—FortLee.-N. J——
—15
312-Foxborough Fire Dist., Mass- 4)4
Francesville, Ind—
5
312—Frankfort S.D., Ind
4)4
391—Franklin, Mass
4)4
252.-Franklin County, N. Y
4)4
391--Fremont, Neb
5
391—Frio Co. Com. S.D.No.l3,Tex_ 5
312—Galveston Co. Com. S. D. No.
7, Tex_
5
312.-Geauga County, Ohio
5)4
190
Geneseo, N. Y_
5
391--Geneva, N. Y
5
312—Giddings Ind. S. D., Tex
5
391—Gilroy, Cal
6
190-_Girard, Ohio (2 issues)
5
391—Gloversville, N. Y
4)4
312__Goldthwaite Ind. S. D., Tex
253--Gonzales, Tex.
5
312--Graham Ind. S. D., Tex
5
191—Granite City Scb. Dist., Ill
391--Grant Co. S. D. No.21, Wash.. 5)4
312—Green School District, W. Va._ 6
1918-1942
<*1923-1953:
,<*1918-1953
5
—
1923
dl923-1933
130--Hamilton County, Ind-
100
,
100
100.5
100.114
100.625
100
100
100
100
100
100
100"
100.272
100
\
100
100.215
101.419
100
100
100
100.61
100
100
102.567
100.537
100
100
.27,200
100,000
15,000
5,000
85.000
25,000
100,000
13,000
3,000
-
1914-1928
1923
1914-1923
1914-1938
,
1915-1924
dl918-1933
dl923-1953
dl923-1933
1916-1932
1914-1930
dl918-1953
al921
1914-1918
<11918-1953
<*1933-1953
<*1923-1933
3,000
8,000
16,800
65,000
3,500
35,000
100
100.5
35,000
29,000
5,000
100
100
100
100
100
-
100
100
100
4,000
3,000
65,000
9,000
20,000
<*1918-1923
<*1923-1947
1915-1920
...——
100
2,000
9,758
1,198
18,400
—
100
100.50
100
9,000
—
—
100
2,400
dl923-1953
312—GrimesCo.Com.S.D.No.l7,Tex. 5
<*1914-1933
312—GrimesCo.Com.S.D.No.24,Tex. 5
<*1918-1933
253..Grove City School District, Pa. 4)4
312.-Hamilton, Ohio
4)4
1914-1923
100
5,000
3,000
100
7,500
___-**
25,000
100.24
86.626
25,000 102.104
7,000 ylOO
al919
—
__
15.500
26,000
8.000
75,000
85,000
4,750
<*1922-1932
„
— — —
100
3.000
4,499
—_
391--Dyer County, Tenn
4
100
100
100
13.000
65,000
31,050
18,700
130,000
1,000
1,000
—
5
5
100
|15|,100 101.32^
-
5
1917-1929
190
Delaware, Ohio (6 issues)
5
1914-1925
190--Delaware County, Ind.(3 issues) 4)4
Delaware County, Ohio
5
al919
252- _DentonCo.Com.S.D .No.3,Tex_ 5
1933
252--Denton Co.Com.S.D.No.33,Tex 5
1933
252—De Witt Co, Com. S. D. No. 40,
Texas
5
dl922-1952
Dubois County, Ind
6
1914-1918
—
—
100 '
8,400
5)4
1933
6
1914-1923
4)4
5
:—
6
dl928-1934
5
<*1918-1953
5
1915-1933
--
—-
3.900
5,000 zlOO
23,100
100.054
10,000
100
40,000
97
2,700
100
2,500 99.4508
1918
—
24,000
40,000
al934
-
5
5
6
— —-
100.375
100
102.50
,100
20,900
3,276
1,500
3,000
600,000
—
311—Clifty Township, Ind
——
390--Columbus, Ohio
129—Conneaut, Ohio (3issues)
390.-Conrad,- Mont..-—
190_-Conway, Ark
252—Coon Rapids, Iowa
252—Correll, Minn
190—Corydon School Town. Ind
129--Covert Township,,Mich
:
252.-Cut Bank, Mont.
311
Dallas Co. Com.S.D.No.39.Tex
391—Dayton, Ohio (4 issues)
100.038
600,000.100
(4)4 '23-'33&'43
311—Chelan Co. S. D. No. 29, Wash- 5)4
252—Childress Ind. S. D.,Tex
5
311—Cincinnati, Ohio
4)4
311—Claiborne Parish S.D.No. 13,La. 5
252-1 Dunlap, Iowa—
105.621
20,000
a 1924
al930
,
252--Champaign & Ford Counties
Drainage Dist., Ill
6
129—Champaign County, Ohio
5)4
129—Chardon, Ohio (2 issues)
5
311—Decatur County, Ind—
190
Defiance County, Ohio
100
100
100
100
5,
Y_
252—California.
100
100.25
100
100
1913-1921
5)4
4)4
-
-
mm
100
100
5,
311—Bristol; County, Mass
390—Bronxville, N. Y__
252—Brookfield, Mo
252-Buffalo, N. Y
311—Burbank, Cal. (2 issues)
311—Cairo Dr. Dist., Ill
311.-Caldwell, Ohio.
^
311—Caledonia U. F. S. D. No.
2,000
1,563
20,000
2,000
8,000
<11923-1953
5)4
5
—
391—Greenevilie, Tenn
Rate.'
40,000
3,000
60,000
;
100
311—Bexar Co. Com. S. D. No. 40,
312—Greene County, Ohio
•
V
4
„
311—Bidde'ord, Me...
New York.
Front, Pine and Depeyster Sts.,
P.O. Box 958.
800
2,500
311—Barberton, Ohio (2 Issues)
5
129--Battle Creek, Mich. (3 issues)-- 4)4
389—Bellaire, Ohio—
5
389--Bell County, Texas.:
5
390--Belton, Texas (2 issues)
-5
129.-Benton Harbor, Mich
4)4
129_-Benton Harbor S. D., Mich
5
251-BernalUlo Co. S. D. No. 3, New
Texas
DANA COMPANY, Publishers,
B.
<11918-1923
<11933-1953
5
251__Athens Ind. S. D.f Texas----..
chicago Office—Goo. M.
WILLIAM
5
1,
.
a
Amount.
Prioe.
100,000 xlOO
17,680
100
5,000
100
5
o§?—AshviUe, Ohio (2 issues)------. 6
t
six Months
C
—
251—Atascosa Co. Com. S.D. No.
(yearly)
Transient matter per inch space (14 agate lines).
)
<
41, Texas
389--Banning U. H. S.D., Cal
(3 times yearly)
Advertising—Per Inch Space
ParSa
.
Matiruly.
1943
1914-1923
4
4)4
5
XCTII.
No.
D. No.
S.
311—Attleboro, Mass
251_-Bandera Co. Com. S. D. No. 1,
Subscription includes following Supplements—
Bane and Quotation (monthly)
Railway Eaextsos (monthly)
Com. S. D.
16 Texas
_
i 13 00
European Subscription (including pestage)....
European Subscription six months (including postage)..
Annual Subscription in London (including postage)
Six Months Subscription in London (iaoiuding postage)....
Subscription (inciuding postage)
.
251—Angleton Ind. S. D.. Tex
389_-Apache County, Ariz
310__Archbold Sch. Dist., Ohio_____
310__Armijo Un. H. S. D., Cal
311_-Arthur S. D., Iowa
251 .-Ashland,
Ore
WEEKLY.
For One Year...........
Canadian
Rate.
251__Angelina Co. Com.
3P** ®Ttr0tticIe.
Terms of
Name.
251.-Allegheny County, Pa
310._Allen County, Ind. (2 issues)—
_
PUBLISHED
[Voi>.
/
15,000,
1,500 100
1,200
100
75,000
:—...
15,912
100 .
,
,
22,600
100
Au». 9
THE
1913.]
391
Name.
Rate.
Maturity.
130--Hamilton County, Tenn
1943
AM
1943
130—Hamlet, No. Caro. (3 issues)
6
130__Hammonton S. D., N. J
5
253__Hancock County, Ind
AM
253--Hardin County, Ohio (4 issues). 5
312__Harris Co. Com. S.D.No.23,Tex 5
dl933-1953
130--Harrison County, Ind
1933
4M
191--Harrison Sch. Twp., Ind
AM
253
Haskins, Ohio
6
312—Hastihgs-on-Hudson,N.Y.(3 iss.) 5
253__Hayward, Cal
312.-Henderson, No. Caro
5
1953
312_-Henderson Ind. S. D., Tex—5
41923-1953
1946
191--Henry County, Va
5
391--Herkimer, N. Y
5
*1914-1943
Highland Park. Mich
:
1933
4)4
1943
391—High Point, No. Caro
5
391--Hill Co. S. D. No. 28, Mont.— 6
dl918-1933
253--Hillsborough Co., Fla. (3 iss.)__ 6
191--Honey Creek Twp., Ind—:
4M
130—Huntington Un. F. S. D. No. 3,
392
N. Y
30,000
11,000
9,000
68,500
2,500
9,200
11,000
1,500
52,000
14,000
50,000
4,000
60,000
30,500
,
45,000
100,000
5,000
46,000
21,800
58,000
50,029
2,000
68,000
al917
5)4
dl91S-1953
5
AM
5M
—_
191
Jackson, Miss. (4 issues)
313-.Jamestown U.F.S.D., N. Y
392_-Jefferson County, Iowa
600,000
5
-
—
313--Jefferson County, Mont
313--Jefferson Co. S.D.No. 17,Wash.
1933""
dl923-1928
6 V <*1914-1918
263--Jennings Twp., Ind
191_-Johnstown S. D., Ohio
191--Kalamazoo S. D., Mich
Kansas City S. D., Mo
1914-1935
5)4
5
4)4
392.-King County, Wash
;
253—King Co. S. D. No. 144, Wash253—King Co. S. D. No. 182, Wash.
313—Kingvllle Ind. S. D.f Tex—.
392
Klamath Falls, Ore
•—
313--Knox Sch. Twp., Ind_
1914-1916
1933
__
5
d"l914^1933
5M
<*1914-1923
5
6
5
4)4
<*1923-1933
1933
al918
1914-1923
191—Lake County, Ind
4)4
1914-1923
313_.Lake
4)4
Kosciusko
392
County, Ind
County, Ind
392
Lansing, Mich
313.-Lawrence, N. Y
253--Lawrence County, Ohio
191--Lexington, Ky
131_-Liberty Sch. Twp., Ind
131--Liberty Township, Ind
Licking County, Ohio (7 Issues)
^Lima School Dist., Ohio.
-Lockport, N. Y
z;
Logan sport, Ind
-London, Ohio.
.Long Beach S. D., Cal
-Longview Ind. S. D., Tex
-Lonoke Co. Rd. Dist. No. 3,Ark
-Lookout S. D., Cal
.Lorain County, Ohio
-Lovilia Ind. S. D,, Iowa
-Lowell, Mass
.Lower Merlon Twp., Pa
-Lower Merlon Twp., Pa
.Lowndes County, Miss
.Lucas County, Ohio
-McClure. Ohio
-Mahnomen, Minn
-Mahoning County, Ohio
.Mahoning County, Ohio
-Manchester, N. H
.Marietta, Ohio
5
5
-Marion, Ohio
-Marlborough, Mass
-Marshalltown, Iowa
-Marshalltown S. IX, Iowa
-Maryland—
-Marysville S. D., Ohio
.Marysville S. D., Pa
-Matagorda Co. Com. S.
No. 2, Tex
313— Matagorda Co.
Com.
S.
No. 14, Tex
313. -Melrose, Mass
313. -Miami County, Ohio
314. -Middletown, Ohio
132. -Middletown, Ohio.
254. -Middletown S. D., Ohio-
— —
_
a
,
5,000
1924
5
4
4)4
4)4
5
5
5
al931
al921
4)4
<*1933-1953
1914-1933
5
6
-
-
-
-
-
-
1914-1923
"*"1943" "
5
6
1914-1923
1928
5
5
""al~922~"
6
*
1914-1933
5
1914-1933
/110,000
5
1914-1917
1914-1923
10,000
4,000
12,000
192.
132254-
5
<*1923-1933
2,000
5
dl923-1933
al919
2,000
25,000
5
5
"
a"l9~3"5~"
6
"
"al925 ""
5
*
5
100
100
100
100.082
100""""
100.191
100
100
101.502
100.14
,
ibb'519
100
100
lbo'ooi
102.333
100
100.71
100.261
99.01
100.833
102
ibb"""
var.
100
100
100.81
100.053
40,000
21,000
65,000
100.562
572,930
1953
61,000
1914-1938
6,850
25,000
-
100
100
100
100
100
95
95.03
95.07
100
97.50
100
95.59
100.20
100
100
10,000
4
50,000
100.85
100
5
<*1918-1933
800
'
"
<*1918-1933
<*1923-1953
750
5
•
5
1923-1931
5
al917
1922
_
1,11/5
Minn.(2 issues)
254- Perry County, Ohio
133-. Perth Amboy, N. J_._.
.1.1
314-. Pickaway County, Ohio (5
iss.)
1923
100
1917-1948
dl914-1953
dl914-1943
1933
1933
1919
dl923-1933
<*1914-1933
d1923-1953
1953
_:_
5
5
5
.
1916-1923
1923
100
2,000
100
50,000
*100
4,000
23,800
70,000
100
5,000
18,500
100.02
100
2,900
al928
*
—
194—Troy, N. Y__
—-
1922-1926
""al9l9"
1915-1919
dl918-1923
1,000
100
dl918-1928
1,500
50,000
5,000
100
1943
1943
dl923-1933
dl923-1933
68,800
10,500
96,000
12,700
3,200
33,000
35,000
128,741
27,000
5,000
3,749
4,500
45,000
24,800
38,100
2,000
80,000
86.000
18.0001
1,000/
90,000
45,000
97,000
294,000
101.271
100.51
100
100.68
1,200
"
"al927
1914-1928
1933
100
100
100.151
93.50
100
100
100
100.988
100
101.813
100
100
d~1923-l953
1914-1918
1914-1933
1914-1933
1914-1933
1914-1933
"
"ol921
1914-1918
d~1923-1947
dl923~1953
1914-1923
dl914~1933
dl923-1933
1914-1917
"al9"l9"
1917-1928
C1929
dl923-1953
1914-1915
1928
dl923-1953
1915-1924
1914-1917
dibi'^igss
"
1938
al920
1914-1933
—
,
100.41
.
Var.
101.76
100
100.000
100.83
100.83
400.000
100.83
380,000
100.83
100,000
100
1,600
101.55
15,000
100
•
13,500
14,000
8,000
100
3,000
9,500 V100
100
4,000
100
2,000
100
3,000
7,400
11,000
100.071
14,000
100
45,000
101.687
100,000
100
2,000
101.335
2,700
193.345
22,000
100
2,550
100.15
190,000
100
3,500
100
100,000
97.50
150,000
100
50,000
100
5,300
100
50,000
130,633
100
200,000
lbb""
55,000
101.26
60,000
17,000
100
53.600
100.833
3,600
16,000
10,250
3,000
90,000
13,400
13,040
13,215
10,000
4,150
52,000
22,380
1,380
100,000
94,697
3,500
13,000
100,000
28,500
3,000
12,000
17,000
2,000
3,000
3,500
30.000
25.0001
100.102
101.463
100
•
lbi"37"
100
lb'o"""
100.361
100.591
100.05"
fob"""
100
101.345
100
100
-
100
1'0"0'.375
100
.
100;571
100
101.619
20,000/
30,000
101.88
12,000
101.925
100,000
180,000
200,000
400,000
100.226
100.281
100,
100
96,000
12,000
5,000
25,000
100
34,370
100
100
100
100
(324 municipalities,
£$20,565,442.
covering 556 separate issues)
Average dates of maturity,
d Subject to call in and after the earlier
and mature in the later year.
£ Not including $5,000,000 "general
fund" bonds of New York City and $31,845,414 of temporary loans reported
and which do not belong in the list,
x Taken by sinking fund as an in¬
vestment.
y And other considerations.
a
REVISED
The
TOTALS
FOR
PREVIOUS
MONTHS.
total for June, should
be eliminated from the same.
We give the page number of
the issue of our paper in which the reason for these elimina¬
tions may be found.
following items included in
our
311—Crawford County, Ind.
391—Dysart,
Name.
389-Bedford, Iowa (April)
390--Columbus, Ohio (6 months)
10,000
—
We have also learned of the
Page.
$9,200
——
Iowa
following additional sales for
previous months:
100.3
100
100
year
100.018
100
400
25,000
18,000
155,000
92.57
100
15,000
221,000 1100
25,000
100.168
72,000
14,300
-
Total bond sales for July 1913
100
100
158,000
dl923-1933
—
101.60
100
800
<*1923-1933
•
103
900
1915&1916
6
1933
6
1915
134—Union County, Ohio
5
1914-1919
315--Union Township, Ind
5
1923
255--Upper Sandusky, Ohio
5
1914-1918
194—Urbana, Ohio
6 "
al917
70—Urbana School District, Ohio— 5)4
316—Utica, N. Y
4)4
'"'1923
194—-Van Wert, Ohio
5)4
195--Wabash County, Ind. (2 issues) 4)4
397__ Walla Walla, Wash
316—Wallingford, Conn.
4)4 J1928-1943
134—Wapakoneta,.Ohio (2 issues).— 5
195--Warren, Pa
AM *23~,"33&~43
1923
134.-Warren County, Ind. (2 issues). 4)4
al915
316.-Warren Township, Ind
4)4
1914-1933
255--Washington County, Pa
4)4
134--Waterloo, Iowa
;
5
134.-Waupaca, Wis
5
'
255--Wayne School Twp., Ind
4)4
1934-1943
195—West Orange S. D., N. J
5
316—White County, Ind. (2 issues)
4)4
317—WhitmanCo.S.D.No.45, Wash— 5)4 dl918-1923
dl918-1933
397—Wilber, Neb.
5
1933
255—Wildwood, N. J__
5
255—Wilfred School District. Cal256—Willow Grove Ind. S. D., Tex__ 5
d~l923-1953
397—Willow Grove Sch. Dist., Cal— 5)4
195.-Windsor Locks, Conn
1916
5
1914-1923
256—Wobura, Mass
4)4
1914-1933
256—Woburn, Mass
4)4
135--Wood County, Ohio.
6
1933
135—Xenia, Ohio..—
5
al923
317-Yonkers, N. Y
5
01923
317-Yonkers, N. Y
5
1914^1933
317-Yonkers, N. Y^._5
01917
317-Yonkers, N. Y._
5
01917
317-Yonkers, N. Y_
;
5
01916
317-Yonkers, N. Y._
5
1914-1918
317—Yonkers, N. Y
5
317—York Township S. D., Ohio-a
1914-1938
6
317—Youngstown, Ohio (4 issues)— 5
255—Tuscarawas County, Ohio
315—Twin Bridges, Mont
100
25,000 ylOO
2,740
100
100
7,600
100.27
38,000
105
20,000
30,000
101.009
21,000
100
"
3,000
100.175
20,000
100
10,800
100.137
7,260
6,160
100.162
100
1,500
100.222
4,500
1915-1931
1943
———
100.626
100
500,000 *100
7,224
<*1914-1933
<*1914-1933
15
315.-Tipton County, Tenn
315—Toledo, Ohio—
255—Topeka, Kan
100.23'
40.000
5
4)4
5
4)4
4)4
4)4
100-185
11,000
6,000
—
d1933-1953
1924-1927
City
3
314- Niagara Falls, N. Y_II-HI 5
314- Niles, Ohio
" 5
314- Niles, Ohio
~~ 414
254- Niles s. d., Ohio—5
254. Noble Twp., Ind
314- .Normangee Ind. S. D., Tex
5
192- .North Chautauqua S.
D.f Pa
4
314- .North Chicago S. D.t 111
393- .North Dakota (7
issues).
4""
132- .Norwood, Ohio (3
issues).
~ 5
132. .Norwood, Ohio
(2 issues)
AM
132- .Norwood, Ohio (2 issues)
I AM
393.. .Oakland Colony S. D., Cal
' 7
314.. .Ocala, Fla
"
5
132.. .Okanogan Co. S. D. No. 17.
Wash. (2 issues)
5
132-. .Orrville, Ohio (4 issues)
5U
314-. Overton Ind. S. D., Tex
5
I92-. Painesville, Ohio
5
254-. Painesville, Ohio
5
.....
ind
,
20,000
5
al917
1914-1918
—
'
4
Philadelphia, Ohio
254-. Pend Oreille Co. S. D. No.
Wash
133.) Pennington Co.,
5,000
100
35,100
5
Texas
,
95
104.268
100.60
100.2
50,000
10,000
6,700
""1933"
—
1,500
1,500
2,500
30,860
475,000
5,000
25,000
D.
-
5
315—Spencerville, Ohio
5)4
255--Springfield, 111
— —
5
134.-Springfield School Dist., Ohio.. 5
315—Spur Ind. S. D., Tex
5
395
Stafford Township, Ind
6
395—Stamford, Conn—
5
315—Star Ind. S. D., Tex
5
134.-Stark County, Ohio
5
194—Sugar Creek Twp. S. D., Ohio. 5
134—Tampa, Fla
——
—5
315.-Taylor County, Tex
5
194—1 ippecanoe County,
01918r"
' 5
315—South Haven, Mich.395.-South St. Paul, Minn._
255
1914-1923
1933
5
80,000
—
101.22
40,000
1,177;000
125,000
1933
22,000
1914-1943
al915
S*
100.062
D.
_
98.31
100
4)4
New Barbadoes
Twp., N. J_._
New Boston S. D... Ohio
New York
100
100
<*1933-i953
.
D.
Nevada Ind. S. D., Tex—
_!v—
Newark, Ohio__:
393.
100
100
6.000
5
4
16^ Texas—_
Nalley Ind. S. D., Tekas
Nashua, N. H
—;
New
100
30,000
15,000
-Mississippi Levee Dist., Miss__ 5
County, Ind
4)4
-Montgomery County, Md
4)4j
-Montpelier Con. S. D., Miss.-. 6
-Morgan County, Ind
4)4
-Morrow County, Ohio.5
-Mount Bidwell S. D., Cal
6
132-
100.217
496,000
80,000
102.099
100
__
100
d1923-1933
.
393.
314. -Mountrail Co., No. Dak
314. -Nacogdoches Co. Com. S.
No. 21, Texas
314—Nacogdoches Co. Com. S.
314->
100
dl928-1933
.a!923
Price.
15,000
220,000
6,500
—
100.039
100
5
314. -Monroe
132_
lbb"""
101
D.
.
314-
100.144
100
4
5
...
No.
100.40
100.029
100
4
1933
<4?nV S. D. No. 42,Tex 5
314. -Millville, N. J
4)4!
1933
314. -Milton U.S.F.D. No. 1, N. Y—
4)4I
1914-1944
314. .Milwaukee, Wis. (3 issues)
4)4i
1914-1923
314. -Mineola Ind. S. D., Tex,
5
dl923-1953
314. .Minneapolis, Minn
4
1923
192. -Minneapolis, Minn. (10 issues) 4
1918-'20&'23
192. -Minneapolis, Minn
4
1920
393. -Minnesota (68 issues)
4
various
314.
100
60,000
18,000
100,000
314.
314.
314.
393.
100.40
D. No. 4,
Tex
393.
100
315--SnohomishCo.S.D.No.21,Wash. 5)4
255--Sour Lake Ind. S. D., Tex—— 5
194--South Charleston, Ohio
5
lbb'""
100.507
100.60
100.555
100
30,000
4)4
,
314. -Milam Co. Com. S.
al922
5
4)4
4)4
4)4
5)4
locf"
Amount.
1914-1930
Maturity.
-
101.80
100
100.187
76,000
4,500
3,240
67,600
100,000
17,000
36,000
20,000
25,000'
23,500
9,000
210,000
35,000
100,000
15,000
27,000
3,000
85,000
2,000
180,000
3,000
166,500
90.000
20,000
50,000
53,790
9,000
5,000
5
387
Page.
Name.
Rate.
133.-Pike County, Ind
4)*
254__Pittsfield, Mass
4" '
394-_Pittsford S. D., Mich..
5
394--Plainview, Texas (2 issues)
5
254„Polk County, Tenn
6
314__Pontiac, Mich
5M
254.-Portsmouth, Ohio
5
192.-Posey County, Ind
4)4
394.-Prairie Twp., Ind_
4)4
133.-Preble County, Ohio. —
5
254—Prentiss County, Miss..;
254
Pulaski County, Ind-.
133—Pultney Twp., Ohio.
—
133--Putnam County, Ind
--314--Putnam County, Ind-----254--Putnam County, N. Y__
4)4
315—Raeford S. D., No. Car..
6
192—Ravenna,
Ohio
———
254-Reading, Pa4
315—Rice Lake, Wis.
5
133--Richland Sch. Twp., Ind-—-- 4)4
254—Ridgewood, N. J
5
133.-Ripley County, Ind-.133.-Ripley County, Ind
133-Ripley County, Ind —
- —
193—Ripley Twp. S. D., Ohio. — — - 5)4
315—Robertson
Co.
Com.
S; D.
No. 11, Texas.
-----5
315--Robertson
Co.
Com.
S. D.
No. 21, Texas
5
315—Rockingham, N. Car. (2 issues) 6
133—Ronceverte, W. Va———----- 6
315—Rush Co. Com. S. D. No. 4,Tex.5
315.-Rush Co.Com.S. D. No. 47,Tex.5
315—Rush Co.Com.S. D. No. 40,Tex.5
315-.Rush Co.Com.S. D. No. 63,Tex.5
315—St. Paul, Minn. (2 issues).
4)4
315--Salem, Ohio.
5)4
255—Salem School Twp Mind--—— 4)4
255—Salt Lake City S. D., Utah
4)4
133—Sampson County, No. Caro— 5
255--San Antonio, Tex—
5
395--Sandusky County, Ohio.——— 5
395
Santa Paula Un. H. S. D., Cal- 5
255--Sault Ste. Marie, Mich
5
69--Schenectady, N. Y
5
69--Schenectady, N. Y
5
69—Schenectady, N. Y
5
69—Schenectady, N. Y—,—
5
193—Service School District, Cal
6
315—Sharon, Ohio
—
4)4
255—Shelby County, Ohio
5
255--Sibley, Iowa
;
—
315—Sisterville, W. Va—
—
5
315—Slatin Ind. S. D., Tex
5
134—Smithville, Ohio (2 issues)----- 5)4
100
100.47
250,000
109,000 1/100.022
100
18,000
10,000 ylOO
100.333
1,500
100.121
6,592
102.001
16,000
100
46,000
500,000
100™
300,000
100
12,000
100
6,000
5
5
5
Price.
Amount.
Page.
312—Idlewood, Ohio (11 issues)
392_-Irving Ind. S. D., Tex
392—Jackson, Mich. (3 issues)
CHRONICLE
'
Rate.
5
Maturity.
1921-1933
.
-
Amount.
$20,000
Price.
565,000 *100
388
CHRONICLE
THE
Name.
Page.
Rate.
mm
■
5
,
_
—
394—Payson City, Utah
394--Payson City, Utah
394—Payson City, Utah
.
5
_
5
mm
5)4
5)4
5H
4)4
..
-
—
—
.
1923
10,000,
1914-1923
1943
dl923-1933
<21933-1953
1933
various
4)4
100.066
:
All the above
Rate.
Maturity.
Amount.
5
1943
1914-1933
$75,000
23,417
112,969
214,927
20,000
15,000
103,000
63,000
_
5
-
.
-
-
317. _Bredenburg*
-
256--Calgary, Alts
317--Dartmouth, 1
-
1943
5
7
1943
1933
4)4
1933
5
-
317—Donshoo S. E
6
5
"""1923"""
8
_
I
256—Goderich, Ont
196—Graton R. C. S. D., Sask
318--Green Meadow S. D. No. 423,
gask
.
*_
—
Sask—-
136—Rudy
—
(Rural Mun. No.
-
Sask
i-
398--Swift Current, Sask-—
398--Toronto, Ont"..—
398—Vancouver, B. O———;
398--Vancouver, B. C
ii—
398—Watrous, Sask
196—Whitemouth S. D., Man—
196—Windsor, Out——
—
318--Winnipeg, Man——
Total debentures sold in
ADDITIONAL
"""1933",
4)4
5
7
1914-1943
6
ELIMINATE FROM
m:m
—
—
......
100
89.125
90.06
100.466
82.42
200,000
15,000
336,000
25,000
500,000
25,000
5,000
1,500
150,000
V
1928
6
6
OP
j
97
10,000
20,000
1914-1933
3,600
142,000
75,000
—
4
1948
4)4
4)4
6
1953
1933
100
6
5
95.90
94.888
2,550,000
—
111,500
70,000
1933
5,000
123,000 94 to 96
<21943-1963 3,450,000
.——$9,136,393
FOR
MAY.
Amount.
Price.
98.125
$4,000
MAY LIST OF DEBENTURES.
(6 issues)
News
—
$313,500
Items..
Bristol, Conn .—Committee Reports Value of Water Plant.
—Alvan Waldo Hyde, Morgan B. Brainard and Edward A.
Fuller, who were named by the Superior Court to place a
value on the tangible property of the Bristol Water Co., filed
their report July 28.
The committee values the property
at $483,357.
The tangible property, as shown by the re¬
port, is the assets, as given in an inventory dated Dec. 31
1912, and is exclusive of cash and accounts receivable and
accrued interest; the water rights, acquired by the exchange
of the "Long March"'property, the Cables farm and the toolhouse, acquired since Dee, 31 1912.
The charter amendment under which the city is proceeding to acquire
the water plant was adopted by the voters Jan. 17 1912, and under its terms
an election must now be held on the question of buying the property at the
price fixed by the committee.
The company is not bound, however, to
accept this price, even though it is ratified by the voters and unless-both
parties agree it will be necessary to start condemnation proceedings.
In March last year Judge Case in the Superior Court dismissed the appli¬
cation of the city for a preliminary appraisal Of the plant.
As stated in
V. 94, p. 1072, the decision was based on the ground that, inasmuch as the
city or water company might render the "first appraisal" of no effect, it
would be valueless save as a basis for .regular condemnation proceedings.
This ruling was reversed, however, on appeal to the Supreme Court of
Errors for Connecticut (City of Bristol vs. Bristol Water Co., Conn. Re¬
yet been presented. • The Taxpayers' League contended to the Court
that, while State Treasurer Dunlop, had included in his cat for warrants
for the fiscal year ending June 30 1911 $320,000, he had not the
legal right
to do so.
The figures used by the Taxpayers' League were obtained from
the office of the State Examiner and Inspector.
The suit was first instituted before District Judge W. R. Taylor, who re¬
fused to pass upon the. matter until each of the warrants making up the total
to be refunded had been explained in Court.
Treasurer Dunlop, when the matter was called up before District Judge
j. J. Carney, admitted he had on hand $158,608 95 which could be applied
to the liquidation of the outstanding warrants for the fiscal year ending
June 30 1911, and this amount was deducted from the amount which it
was originally intended to refund.
It is expected that the case will be
appealed^.
;-;v
-.'v.-, /;;
^
:■..*
Orangeburg, So. Caro.—Voters Favor Commission Plan
of Government.—The commission form of government was
adopted at an election held July 17.
The vote is reported
270 to 68.
'
Spokane, Wash.-—Court Holds Recall Petitions Invalid
On July 28 Judge E. H. Sullivan in the Superior Court de¬
cided that the recall petitions filed against Mayor Hindley
and City Commissioner Robert Fairley ate invalid.
The
Court denied the writ of mandamus asked by the Central
Labor Council to compel the City Council to order the recall
election.
It appears, from newspaper accounts, that there
was a question as to the
required number of signatures to the
petitions, they containing 15% of the voters, while the Court
held that 25% was necessary.
'
; ;
West Virginia.—Five Legislators Convicted of Bribery Sen¬
tenced to Prison.-—On
Aug. 4 Judge W. S. O'Brien at Webster
Springs sentenced to prison the five members of the Legisla¬
ture convicted of having accepted bribes to vote for Col.
W. S. Edwards for U. S. Senator.
S. U. G. Rhodes, Rath
Duff and Dr. H. F. Asbury were sentenced to six years each,
Dr. B. A. Smith, five years and six months, and David E.
Hill, the last man convicted, five years. Judge O'Brien
stated that he had taken into consideration the fact that Hill
had not,committed perjury.
Misdemeanor indictments are
still pending against two other legislators, George S. Vanmeter and Rev. T. J. Smith (V. 97, p. 310).
Bond Calls and Redemptions.
Denver
Call.—The
31:
;
.
following bonds
V
'
•
were
»
STORM SEWER BONDS
Arlington Park Stonn Sewer Dist. Bond No. 23..
Sub Dist. No. 2 of the Capitol Hill Storm Sewer Diet. No. 1. Bonds Nos. 9
Sub Dist. No. 7 of the Capitol
Hill Storm Sewer Dist. Nb.l. BondsNos.29
to 39, inclusive.
Sub Dist. No. 4 of the North Denver Storm
11 to 18, inclusive.
,
i.
^
Sewer Dist. No. 1. Bonds Nos.
„
—
South Capitol Hill Storm Sewer Dist. Bond No. 60.
Washington Park Storm Sewer Dist. Bonds Nos. 118 and
West Denver Storm Sewer Dist. No. 1.
Bond No. 56.
■
.
SANITARY SEWER BONDS.
Sub Dist. No. 2 East Side Sanitary
Q-nd
*
97
.
*
""
.
,
119.
„
Sewer Dist. No. 1.
'
•
Bonds Nos. 26
1
-
East Side Sanitary Sewer Dist. No.
11, East Side Sanitary Sewer Dist. No.
Part of Sub Dist. No. 9
Sub Dist. No,
6°South Side Special Sanitary Sewer Dist. No.
1. Bond No.ll,
1. Bonds.Nos.
5. Bond No. 3.
IMPROVEMENT BONDS.
Bonds Nos. 53 and 54.
Capitol Hill Impt. Dist. No. 5.
Bonds Nos. 129 to 132 incl.
Capitol Hill Impt. Dist. No. 6.
Bonds Nos. 30 to 33, incl.
Capitol Hill Impt. Dist. No. 7.
Bonds Nos. 3 and 4.
Cherry Creek Impt. Dist. No. 2.
Bond No. 39.
Cherry Creek Impt. Dist. No. 3.
Bonds Nos. 1 to 5, incl.
East Denver Impt. Dist.*No. 3.
Bonds Nop. 75 and 76.
East Denver Impt. Dist. No. 4.J Bonds Nos. 115 and 116.
East Side Impt. Dist.
No. 1.
Bonds Nos. 88 and 89.
East Side Impt. Dist. No. 2.
Bonds Nos. 68 and 69.
East Side Impt. Dist. No. 3.
Bonds Nos. 1 to 4, incl.
Evans Improvement Dist.
Bond No, 81.
Montclair Impt, Dist. No. 1.
Bond No. 21.
Montclair Parkway Suburban Impt. Dist. No. 1.
Bonds.Nos. 50 to
Arlington Park Impt. Dist.
663), and the case remanded to the Superior Court to
proceeded with according to law.
(P. O. Denton), Md.—Correction —
Through a typographical error in the last issue of our "State
and City Section," page 79, the assessed valuation of this
county for 1913 was given as $1,436,959, the same, as Chestertown, on the line below.
The correct figures are $10,751 ,-
Colo.—Bond
*
called for payment July
ports, Vol. 85, page
be
Taxpayers' League State Treasurer Dunlop
Treasurer Dunlop explained to the Court that while he had on hand that
particular amount of money, he was holding it for the purpose of paying
warrants that had been called for payment last
September, but which had
-
—
Maturity.
1914-1933
for which it was alleged by the
had funds on hand to pay.
-
1943
DEBENTURES
Judge J. J. Carney on July 31 signed the journal entry order¬
ing the issuance and sale Oct. 1 of $2,907,122.19 4^>% fund¬
ing bonds. A similar issue of 4% bonds was offered without
success on Feb. 1 (V. 96, p. 1788).
as
•95""
2,200
1914-1933
965).
p.
not
'
Page.
Name.
Rate.
318-MildenS.D. No. 382, Sask—- 6)4
7
1914-1928
7
July.——
318—North Vancouver, B. C.
1933
1953
.
mm m mm mm i
100
86
66,930
5
4)4
SALES
mm
284),
Sask
196—St. Agnes R. C.Sch. D., Sask-318—South Weyburn S. D. No. 670,
,"-V
4)4
6M
4)4
4
6
—
—
6
4)4
mi
■
1,600
7,000
299,750
120,000
1,500
1923
1927
1945
1945
1923
.
.
88
30,000
.........
7
196—Grey S. D., Man
318—Halifax, N. S, (5 issues)
318—Halifax, N. S—
256-Jorgenman S.D.No.537, Sask196—Lethbridge, Alta_
135—London, Ont—
257.-Lunenburg, N. S
_
196--MacLeod, Alt a. (6 issues)--.—
318--Maple Creek S. D. No. 80, Sask.
196--North Battleford, Sask318--Penetanguishene, Ont
196--Pense (RuralMun.), Sask136--Queen Rose S. D., Sask
318—Redcliff, Alta——318—Rocky Lake S. D. No. 1027*
.
500
5"
-
91.15
2,000
135,000
25,000
'
Price.
97.25
•
city (V. 96,
payers League, through Attorney C. W. Stringer, interposed an Objection
to the bond issue including the refunding of $488,608.95 worth of warrants
BONDS SOLD BYfcCANADIAN MUNICIPALITIES IN JULY.
Name.
Caroline County
'
.
932.
Dayton, Ohio —Election on Proposed New Charter.—An
election will be held in this city next Tuesday (Aug. 12) on a
proposed new charter providing for the "commission-man¬
ager" plan of government.
The commission will consist
of five citizens elected at large and subject to recall at all
times.
The various functions of the government
are
sub¬
divided into departments, all under the control and jurisdic¬
tion of a chief administrative officer to be known as the
"city manager," who is to be appointed by the commission¬
ers.
The people may also initiate legislation and compel the
submission to them of any legislation passed or refused to be
passed by the commission.
Flint, Mich.—Proposed New Charter Defeated.—A special
election held July 18 resulted in the defeat of a proposed new
charter which aided a new ward to the city, provided for a
council of 9 men as against the 12 who now serve, and in¬
cluded, among other features, initiative and recall provisions.
Grant's Pass, Ore*—Municipal Railway Bonds Upheld.—
The friendly suit by S. H. Riggs to determine the legality of
a
The State Financial Board agreed to the increase of )4 %, but the Tax¬
including temporary loans) for that month $37,731,463.
.
by the city of
Oklahoma.—Rate of Interest Increased on Funding Bonds.
—According to the Oklahoma City "Oktahoman," District
sales
{except as indicated) are for June.
These additional June issues will make the total sales (not
Page.
the $200,000 bonds issued for the erection
xcyn.
railroad to Wildersville, a distance of 10 miles, has been
decided by Judge Calkins of the Circuit Court in favor of
the
100
16,000ktl00
10,000
1927
1936
4
Price.
100.219
100
25,272
183,1661
1914-1923
5
396-
1928
1Amount.
60,000
20,000
15,000
16,000
20,000
13,000
Maturity.
w
.
[Vol.
3
JLLLLi
56,
incl.•
Bonds Nos. 108 and 109.
North Side Impt. Dist .No. 1.
Bond No. 43.
North Side Impt. Dist. No. 2.
Bonds Nos. 184 to 189, incl.
North Side Impt. Dist. No. 3.
Bonds Nos. 62 and 63.
North Side Impt. Dist. No. 4.
Bond No. 12.
North Side Impt. Dist. No. 5.
Bonds Nos. 51 and 52.
North Side Impt. Dist. No. 6.
Bond No. 10.
North Side Impt. Dist. No. 7.
Bond No. 46.
North Side Impt. Dist. No. 8.
Bonds Nos. 33 to 35, incl.
North Side Impt. Dist. No. 13.
Bonds Nos. 3 and 4.
North Side Impt. Dist. Nb. 14.
North Side Impt. Dist. No. 1.
Bond No. 15.
So. Broadway Impt. Dist. No. 2.
Bonds Nos. 115 to 118, incl.
South Capitol Hill Impt. Dist. No. 2.
Bonds Nos. 45 to 47, incl.
South Denver Impt. Dist. No. 4.
Bonds Nos. 54 to 56, incl.
South Denver Impt. Dist. No. 5.
Bonds Nos. 48 to 49.
South Denver Impt. Dist. No. 7.
Bond No. 22.
South Denver Impt. Dist. No. 8.
Bond No. 43.
South Denver Impt. Dist. No. 10.
Bonds Nos. 1 to 5, Incl.
South Side Impt. Dist. No. 1.
Bonds Nos. 145 to 179, ind.1
Thirteenth St. Impt. Dist. No. 1.
Bond No. 37.
West Denver Impt. Dist. No. 1.
Bond No. 142.J
|
—
-
.
-**•
•
—
-
„
Alley
Alley
Alley
Alley
Paving
Paving
Paving
Paving
Dist.
Dist.
Dist.
Dist.
No.
No.
No.
No.
Allow
Pavinif
Diet
"NTr\
PAVING BONDS.
•
•
10. " Bond No. 17.
9
22., Bond No. 13.
23.
Bond No. 13.
"
1
24.
Bonds Nos.
11 and 12.
1 1
„
OK
ATI©
9
1913.]
THE
CHRONICLE-
-Alley Paving Dtst. No. 26.
Bond No. 4.
Alley Paving Dist. No. 27.
Bond Nos. 16 and 17.
Broadway Paving Dist. No. 3.
Bonds Nos. 46 and 47.
Colfax Ave. Paving Dist. No. 3.
Bonds Nos. 43 to 45, incl.
Lincoln St. Paving Dist. No. 1.
Bonds Nos. 32 and 33.
Montclair Parkway Suburban
Paving Dist. No. 1. Bond No. 44.
Welton St. Paving Dist. No. 1.
Bond No. 43.
SURFACING
Authority, Sec. 3914, General Code.
Date Aug. 1 1913.
Int. M. & S.f
Certified check on any Lorain County bank or
any national
5% of bonds bid for, payable to Village
Treasurer, required.
Bonds to be delivered and paid for within 10 days
at Amherst.
bank outside of said county for
from time of award.
ANITA, Cass County, Iowa.—BOND ELECTION.—Reports state that
election will be held Aug. 11 to vote on the question of issuing
$15,000
bonds.
an
BONDS.
water-works-system
Marion St. Parkway Surfacing Dist. Bonds Nos. 1 and 2.
Surfacing Dist. No. 4.
Bonds Nos. 13 and 14.
'
ANN ARBOR, Washtenaw County, Mich.—BOND ELECTION.—
Sept. 21, it is reported, this city will vote on the question of issuing
$700,000 to purchase the plant of the Ann Arbor Water Co. and improve
the same (V. 94, p. 365).
\
On
CURBING BONDS.
South Side Curbing Dist. No. 3.
Bonds Nos. 90 to 94, Incl.
.
V PARK BONDS.
Bonds Nos. 297 and 298.
Highland Park Dist.
M'Cracken
County
(P.
O,
'
>
^
Paducah),
Ky.—Bond
Call.—Call has been made for payment Sept. 1 at the Coun¬
ty Treasurer's office, City National Bank, Paducah, of
bonds Nos. 151 to 300 incl., dated March 1 1893.
Missouri.—Bond Calls.—Whitaker & Co. of St.
their quotation pamphlet dated
July 15, include the
list of municipal bonds which have been called for
Louis, in
following
redemption:
Butler County School Board of School District No. 17
(or Old District
5-25-6) 6% building bonds, Nos. 1, 2, 3 and 4, for $100 each, dated June 1
1906r have been called and will be paid Aug. 1 1913.
City of Slater, Saline County, 4H% water-works bonds, Nos. 7 and 8,
for $500 each, dated
Aug. 1 1905, have been called and will be paid Aug. 1
1913.
Clark County 4J^% (railroad debt) bonds, Nos. 4, 5, 6, 10,
11, 12, 17,
46, 47, 50, for $1,000 each, dated Aug. 10 1903, have been called and will
be paid Aug. 10 1913.
"J
"
Lafayette County, Sni-A-Bar Township, 4% bonds, Nos. 6, 7, 8, 9,10,
11 and 12 have been called and will be paid Aug. 1 1913.
Pettis County 4% refunding bonds, Nos. 47 to 61, inclusive, for $1,000
each, dated May 2 1898, have been called and will be paid July 15 1913.
Stone County School District No. 32 (old number 4-24 24)
7% building
bond No. 1 for $300, dated June 15 1903, has been called and will be
paid
July 1 1913.
Taney County, Walnut Shade District No. 46-23-21 6% building bond
No. 1, for $400, dated July 17 1903, has been called and will be
paid
Aug. 12 1913.
;■
APACHE COUNTY (P. O. St. Johns), Ariz.—BOND SALE.—The
$25,000 5% 5-20-year (opt.) road bonds offered on July 7 (V. 96, p. 1784)
were awarded on July 10 to the Navajo-Apache Bk. & Tr. Co. of St. Johns
at par.
ASHLAND, Ashland County, Ohio.—BOND OFFERING.—Proposals
Aug. 22 by E. Koehl, City Aud., for the fol¬
lowing 5% street-impt. bonds:
$5,000 East Washington St. bonds.
Denom. $250.
Date Aug. 22 1913.
16,500 East Main St. bonds.
Denom. $825.
Date July 19 1913.
These
bonds were offered without success on July 19 (V. 97, p. 251).
Auth. Sec. 3939, Gen. Code.
Int. M. & S.
Due one bond of each issue
each six months from March 1 1914 to Sept. 1 1923 incl.
Cert, check
for 5% of bonds bid for, payable to City Treas., required.
Bonds to be
delivered and paid for within 10 days from time of award.
Purchaser to
pay accrued interest.
ASHLAND COUNTY (P. O. Ashland), Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Aug. 21 by the Board of Co. Commrs.,
J. F. Welty, Co. Aud., for $40,000 5H % emergency bridge bonds. Denom.
$1,000.
Date Sept. 1 1913.
Int. M. & S.
Due $3,000 each six months
from Mar. 1 1915 to Sept. 1 1916 incl. and $2,000 each six months from
Mar. 1 1917 to Sept. 1 1923 inch
Cert, check for $500, payable to Co.
Aud., required.
Bonds to be delivered and paid for within 10 days from
notice of acceptance of bid.
Purchaser to pay accrued interest.
W38. .Astor
Street..
2
2
W37.
2
12th Avenue
.
2_.McClellan Street
9
....
6-7
...^
incl.
Altamont Street.*.
6-7
....
187. .Cliff Avenue
20-21
....
894..38th Avenue
2-5
12
....
14th Avenue
336.. 14th Avenue
5
6
8-11 incl.
66..Alley
648..Alley
3-5
incl.
14-15
....
7
18-21 incl.
447..Sprague Avenue...
'
11
Sewer.
I',.V-
.—31-34 incl.
....
....
9
................
—
13-15 incl.
189-192 Incl.
-
2..First Ward
86..First Ward...
3-4
...
[To be Paid Aug. 15.]
District.
Paving.
No. Bgnds.
595.. Alley
4..Bernard
Street... 1~
587..Division Street.
42-43
.-19-31 incl.
326.-Sprague Avenue..
_.36-40 incl.
444..Stevens Street....
7-10 incl.
763. .Second Avenue... —15-21 incl.
437.-Third Avenue
.44-48 incl.
_
Grade.
Street.... —23-26 incl.
218.-Carlisle Avenue..
10
140-.Elm Street.......
15-16
108. 14th Avenue
6
507..Grand Boulevard.
18-32 incl.
...
599..Adams
District.
Grade. (Conc'd) No. Bonds.
388__17th Avenue
448.-Sixth Avenue.
674. _17th Avenue—
664..28th Avenue
—
812.
_
Heroy
Avenue.
_.
834..Jefferson Street..
157..Mission Avenue..
784..Post Street.
8..Sixth
.
4-5
6-9 incl.
...
...
8-12 incl.
Avenue
4-6 incl.
Sewer.
•
7—Fifth
Int. semi-annual.
$2,000 April 1 1933.
1920
1922 and 1923
757 74 Leonard St.
bonds.'
Oct. 1
1922
381-411 incl.
7-15 incl,
'
17
952.,17th Avenue
2
on
.
ADA
COUNTY SCHOOL DISTRICT NO.
53,
Idaho.—BOND
OFFERING.—Proposals will be received until 2 p. m. Aug. 14 by J. J.
Hessing, Clerk Board of Trustees (P; O. Sunnyside), for $3,000 6% 5-10-
jpar^(oj>td coupon school bonds. Denom. $500.
no
sale has been made of the $15,000 bonds offered on
ALBANY.
made
on
offered
advised
are
County, Ore.—BONDS NOT SOLD.—No sale was
July 31 of the $22,500 5% 10-15-year (opt.) gold sewer bonds
that day (V. 97, p. 188.)
•
'
/
■
(P. O. Fort Wayne)
Ind —BOND OFFERING.—
Proposals will be received,until 10 a. m. Aug. 12 by J. H. Bueter, County
Treasurer/for the following 4J^%
tax-free Madison Township
road
11,040
*
Bohnke road bonds.,
Denom. $276.
Denom. $552.
*
*
,
'
••
(assessment) bonds will also be offered:
$20,500 Church St. bonds.
Denom. (1) $1,500, (19) $1,000.
Due $1,500
on Mar. 1
1915 and $1,000 each six months from
Sept. 1 1915 to
Sept. 1 1924, inclusive.
14,575 Main St. bonds.
Denom. (3) $750, (17) $725.
Due $750 each
8,800 Elyria St. bonds.
six
'
1
1915 to Mar. 1 1916, inclusive, and $725
Sept. 1 1916 to Sept. 1 1924, inclusive.
Denom. (12) $450, (8) $425.
Due $450 each
months from Mar.
1 1915 to Sept. 1 1920,
inclusive, and $425
each six months from Mar. 1 1921 to
Sept. 1 1924, inclusive.
3,100 Tenney St. bonds.
Denom. (2) $200, (18) $150.
Due $200 on
Mar. 1 and Sept. 1 1915 and $150 each six
months from Mar. 1
1916 to Sept. 1 1924, inclusive.
750 West Railroad St. bonds.
Denom. (10) $50, (10) $25.
Due $50
each six months from Mar. 1 1915 to
Sept. 1 1919, inclusive, and
$25 each six months from Mar. 1 1920 to
Sept. 1 1924, inclusive.
1,900 North Railroad St. bonds.
Denom. (16) $100, (4) $75.
Due $100
each six months from Mar. 1 1915 to
Sept. 1 1922, inclusive, and
$75 each six months from Mar. 1 1923 to
Sept. 1 1924, inclusive.
5,875 South Railroad St. bonds.
Denom. (15) $300, (5) $275.
Due
$300 each six: months from Mar. 1 1915 to Mar. 1
1922, inclusive,
knd $275 each six months from
Sept. 1 1922 to Sept. 1 1924, incl.
1,050 Wast St. bonds.
Denom. (2) $75, (18) $50.
Due $75 on Mar. 1
and Sept. 1 1915 and $50 each six months
from Mar. 1 1916 to
Sept. 1 1924, inclusive.'
-
$257 74.
Due
1
1923.
*
<.
St. bonds.
Denom. (1) $334 58, (6) $500".
follows $334 58 in 1915 and $500 in 1916,
1922 and 1923.
as
1921,
•
Due
1918,
.
bonds.
Oct. 1 1915 and $500
on
Due $190 77
Oct. 1 1920 and 1923.
1,482 94 Magnolia Ave. bonds.
Denom. (1) $482 94, (2) $500.
Due
$482 94 on Oct. 1 1917 and $500 on Oct. 1 1920 and 1923.
1,306 87 Cross St. bonds.
Denom. (2) $500, (1) $306 87.
Due $306 87
on
Oct. 1 1916 and $500 on Oct. 1 1920 and 1923.
bonds.
Denom. (1) $405 47,
(4) $500.
Due.
on Oct. 1 1915 and $500 on Oct. 1 1917, 1919, 1921 and
2,405 47 Gleiidale Ave.
$405 47
1923 '■
.
'
435 65 Franklin St.
on
bond.
Due Oct. 1 1923.
Denom. (1) $534 47, (6) $500.,
Due $534 47
Oct. 11915 and $500 in 1916,1918,1919,1921.1922 amT1923.
3,342 39 Columbus
St. bonds.
Denom.
(1) $342 39, (6) $500.
Due
on Oct.
1 1915 and $500 on Oct. 1 1916, 1918, 1919,
1921, 1922 arid 1923.
Auth. Sec. 3914, Gen. Code.
Int. semi-ann. at Cleveland Tr. Co., Bed¬
$342 39
ford.
Cert,
check for 10% of bonds bid for, payable to Vil., Treas., re¬
Bonds to be delivered and paid for within 10 days from time of
Purchaser to pay accrued interest.
!...,
Proposals will also be received until 12 m. Aug. 27 by the Vil. Clerk for
$15,845 19 5% coup. Main St. water-assess, bonds.
Auth. Sec. 3914,
Gen. Code.
Denom. (1) $345 19..(31) $500.
Int. A. & O. at the Cleveland
Trust Co.
Due on Oct. 1 as follows:
$1,345 19 in 1914,
quired,
award.
AMHERST, Lorain County, Ohio.—BOND OFFERING;—In addition
to the $10,000 5% coupon street-paving
(village's portion) bonds offered on
Aug. 15 (V. 97, p. 310), the following 5% coupon
street-improvement
six months from Mar.
each six months from
(1)
3,534 47 Willis St. bonds.
July 12.
on
bonds dated Aug. 15 1913:
$5,520 Fackler road bonds.
$500,
$105 63 on Oct. 1 1915 and $500 on Oct. 1 1923.
1,190 77 Grace St. bonds.
Denom. (1) $190 77, (2) $.500.
Linn
ALLEN COUNTY
(1)
Due Oct. 1 1923.
Denom. (3) $500, (1) $487 65.
Due on Oct. 1
as follows: $487 65 in 1916 and
$500 in 1919, 1921 and 1923.
566 30 Monroe St. bonds.
Denom. (1) $500, (1) $66 30.
Due $66 30
on Oct. 1 1915 and $500 on Oct. 1 1923.
605 63 No. Park St. bonds.
Denom.
(1) $500, (1) $105 63.
Due
Date July 1 1913.
AFTON, TJinta County, Wyo.—BONDS NOT SOLD.—We
that
Oct.
1919,
on
follows:
as
and
162 16 Palmetto Ave.
20
Bond Proposals and Negotiations this week
as
Denom.
Oct. 1 1917 and $500 on Oct. 1 1923."
Denom. (1) $236 28, (5) $500.
Due on
follows: $236 28 in 1914 and $500 in 1916, 1918, 1920,
on
1.987 65 Ash St. bonds.
-
have been
„
BEDFORD, Cuyahoga County, Ohio.—BOND OFFERINGS.—Pro¬
posals will be received until 12 m. Aug. 21 by C. C. Lowe, Vil. Clerk, for the
following 5% coup, water-main-constr. (assess.) bonds:
$3,129 77 Button Road bonds.
Denom. (1) $129 77, (6) $500.
Due on
Oct. 1 as follows: $129 77 in 1014 and $500 in 1916.
1917, 1919,
3,334 58 Washington
2
4
'
BEDFORD, Taylor County, Iowa.—BONDS OFFERED BY BANK¬
ERS.—The First Trust & Savings Bank of Chicago is offering to investors
$20,000 5% tax-free funding bonds.
Denom. $1,000.
Date April 1 1913.
Int. A. & O.
Due $2,000 yearly April 1 from 1921 to 1929, inclusive, and
2,736 28 Dunham Ave. bonds.
15
Ward
Ward.
BARTHOLOMEW COUNTY (P. O. Columbus), Ind —BOND OF¬
FERING.—Proposals will be received until 2 p. m. Aug. 16 by J. W.
Scheidt. County Treasurer, for $3,340 J. Talley road bonds in denom. of
$167 and $6,480 G. P. Davis road 4>£ % bonds in denominations of $324.
'
.•
on
BARB OURS VILLE, Cabell County, W. Va.—BOND OFFERING.—
Proposals will be received until 10 a. m. Aug. 12 by D. B. Shaw, Mayor,
6% coup, water-works-constr. bonds.. Denom. $100 or mul¬
tiples.
Date July 15 1913.
Int. ann. on July 15 at First State Bank of
Barboursville.
Due in 30 yrs., subject to call $500 yrly. after 5 yrs. Cert,
check for $1,000, payable to "Town of Barboursville," required.
$257 74
2
9-10
455. .Alley
7.-First
DISTRICT, Riverside County,
are advised that the $23,000
6%
July 9 and awarded $5,000 to B. B. Wright of River¬
side at 102 and int. and $18,000 to Wm. R. Staats Co. of San Francisco
at par and interest, are in the denomination of $1,000.
Date June 18 1913.
Int. J. & D.
Due $2,000 yrly. from 11 to 21 yrs. incl. and $1,000 in 22 yrs.
15
—.
435--Seventh Avenue
375.-York Avenue.
950.-Alley
BANNING UNION HIGH SCHOOL
Cal.—DESCRIPTION OF BONDS.—We
bldg. bonds offered
"
223—Ninth Avenue
21
...
5-6
742—32d Avenue.
Walk.
170—Mission Avenue.
...
_
22-27 incl.
23-26 incl.
5-7incl.
5-18 incl.
720-.S. E. Boulbvard
.
for $12,500
17
......
389.. 17th Avenue
....16-24 Incl.
1. .Grand Street
902. .Greene Street—..
387. -Illinois Avenue-..
Incl.
5
...
352_.Lamont Street.......
441..Lancaster Avenue
190..Perry Street
....10-12 incl,
/ 381. .5th Avenue
incl.
3-4
..18-20 Incl.
Walk.
' 6
19-21 incl.
....
-
484. .11th Avenue..I..
580. .11th Avenue.....
.
2-5
r.__
430.. 11th Avenue.
578. .Chelan
495.
24-27 incl.
530..2nd Avenue
396..29th Avenue
2
Grade.
.
11-14 incl.
948..Post Street.
....13-26 Incl.
776. .Pacific Avenue...
937. _7th Avenue.
204. ."Carlisle
42-44 incl.
555..Magnolia Street
189..Perry Street..,.
Paving.
402. .Howard Street657. .Manlto Place.-.i
939.
23
4__Maxwell Avenue
2
(ser.
AUBURN, De Kalb County, Ind.—BOND SALE.—Reports state that
$127,000 city-hall bonds have been sold to Charles Eckhart through the
Auburn State Bank for $127,108—the price being 100.085.
No. Bonds.
W28. .Heroy Avenue.-.
W29. .Hoffman Avenue.
SCHOOL DISTRICT (P. O. Ashtabula), Ashtabula
Ohio.—BOND SALE.—On Aug. 5 the $20,000 5% 9-28-year
site-purchase bonds (V. 97; p. 128) were awarded, it is reported, to
ASHTABULA
County,
the Farmers' Nat. Bank of Ashtabula.
[To be paid Aug. 1]
Water Main.
Int. J. & J.
will be received until 12 m.
.
are
Date July 1 1913.
Denom. $1,000.
ASBURY
PARK,
Monmouth
County,
N.
J .—CERTIFICATE
OFFERING.—According to reports, proposals will be received until 8 p. m.
Aug. 11 by S. H. Calvert, City Clerk, for $121,773 6% coupon Kingsley
St.
improvement
(assessment)
certificates.
Denom.
(243)
$500,
(1)
$273 54.
Date July 1 1913.
Int. J. & J.
Due $24,273 54 in 1914,
$24,000 in 1915 and 1916, $24,500 in 1917 and $25,000 in 1918.
These
certificates were offered without success as 5s on July 14 (V. 97, p. 189).
;
Spokane, Wash.—Bond Call.—The following bonds
called for payment at the City Treasurer's office:
Dist.
389
$1,500 in 1915,
1916 and 1917, $2,000 in 1918, $1,500 in 1919, 1920 ,1921 and
1922, and
$2,000 in 1923.
Bonds to be delivered and paid for within 10 days after
time of award.
Cert, check for 10% of bonds bid for, payable to the Vil.
Treas., required.
Purchaser to pay accrued interest.
BELLAIRE, Belmont County, Ohio.—BOND SALE.—We
are
advised
the $5,129.80 5%
5^-yr. (av.).
Seventeenth St. sewer (assess)
bonds offered without success on June 18 (V. 96, p. 1784) have been sold
to the Farmers' & Merchants' Nat. Bank of Bellaire at
par and int.
that
BELL COUNTY (P. O.
Belton), Tex.—BOND SALE.—On Julr 28 the
$150,000 5% road bonds (V. 97, p. 251) were awarded to W. P. Bullock
and int.
Mr. Bullock was also given the contract
for engineering and supervision of the work
Other bidders were:
Witt-Fountain & Shaw, Dallas, par and 14
3-10% for engineering.
McCall-Moore Engineering Co., Waco, par and int., with a charge of $20,700 for engineering.
J. D. Carter, Dallas, par and int.. 12% for engineering.
Drake-Brannum Constr. Co., Fort Worth, par and int. and $18,000 for
engineering.
H. E. Elrod, Dallas, par and int., with 15% for engineering.
of Kansas City at par
Denom.
$1,000.
Date June 9
subject to call $4,000 yearly.
1913.
Int.
J.
&
D.
Due in
40
.
yrs.,
;;
BOND OFFERING.—The Commissioners' Court will receive proposals
until Aug. 13 for $50,000 road-impt. bonds.
Auth. vote of 126 to 54 at the
election held July 19. "Bids to include engineering and supervision of roads.
W. E. Hall is County Auditor.
■
390
THE
CHRONICLE
BELLE VALLEY SCHOOL DISTRICT (P. O. Belle Valley),
Noble
County, Ohio.—BONDS NOT SOLD.—No bids were received, it is stated,
for the $2,000 5% bldg. and equipment bonds offered
July 10 (V. 97, p. 65).
CENTER JUNCTION SCHOOL DISTRICT (P. O. Center Junction)
County, Iowa.—BOND ELECTION.—According to reports, an»
Jones
interest
building
at the
rate of
5%.
Bonds
are
Date Aug. 1 1913.
Int. P. & A. at City or
subject to call after 10 years.
BOND SALE.—Reports state that the above bonds were
to the First State Bank of Belton at par.
BEN
AVON
VOTED.—By
ance
a
(P.
Allegheny County, Pa.—BONDS
authorized the issu¬
O. Pittsburgh),
vote of 41 to 30 this borough on Aug. 5
$30,000 bonds for
of
recently sold
a
fire-company house.
BEND SCHOOL DISTRICT (P. O. Bend), Crook County, Ore.—
BONDS VOTED.—On July 31 this district, it is stated, authorized the issu¬
ance
of $3,000
site-purchase and $20,000 bldg. bonds by
to 56 "against."
a
vote of 81
'for
We
are
advised that these bonds will hot be re-offered.
BIO VALLEY SCHOOL DISTRICT, Modoc County, Cal.—BOND
SALE.—On July 2 an issue of $2,000 6% coup, school bonds was awarded
Kramer at par.
Denom. $200.
Int. ann. on June 1.
Due $200
yrly. from 1 to 10 yearsfinclusive.
to W.
BINGHAM CANYON,
Salt Lake County, Utah.—BONDS NOT
SOLD.—Under date of Aug. 2 we are advised that no sale has been made of
the three issues of 6% bonds, aggregating $25,000, offered on July 16
(V. 97, p. 129).
BINGHAMTON, Broome County, N. Y.—BOND OFFERING.—F'. M.
Hopkins, Secretary of the Board of Estimate and Apportionment, will offer
for sale at public auction $147,700
coupon and registered municipal
lighting bonds.
Denom. (257) $100, (144) $500, (50) $1,000.
Int. F. &A.
at office of City Treasurer.
Due on Aug. 15 as follows: $10,000 in 1919,
1920, 1922 and 1923; $10,700 in 1921; $20,000 in 1924, 1925 and 1927;
$22,000 in 1926, and $15,000 in 1928.
Certified check, cash or N. Y.
draft for 2% of bonds bid for, payable to F. M. Hopkins, Sec'y, required.
These bonds were offered without success on July 16 (V. 97, p. 311).
BINGHAMTON UNION FREE SCHOOL DISTRICT NO.
7
O.
(P.
Binghamton), Broome County, N. Y.—NOTE OFFERING.—Proposals
Shipman, Sec., for $15,000
will be received until 7:30 p. m. Aug. 25 by C/H.
5%
promissory notes.
Denom. (4) $3,000, (3) $1,000.
Date Sept. 1
1913.
Due $3,000 on Jan. 1 1915, 1916, 1917 and 1918 and $1,000 on Oct.
1914, 1915 and 1916.
BISHOP,
Nueces
County,
Tex.—BOND ELECTION.—An
will be held Aug. 29, it is stated, to vote on the question of issuing
election
$14,000
drainage and street-impt. and $23,000 sewer-plant-purchase bonds.
BLUE
RIVER SCHOOL
election
will
be
held Aug.
15 to vote on the question of issuing $9,000
bonds.
CENTRE TOWNSHIP (P.
O. Lisbon), Columbiana County, Ohio.
—BOND
OFFERING.—Proposals will be received until 1 p. m. Aug. 23
by P. R. Walker, Clerk Board of Commissioners, for $7,756 86 5K% roadimpt. bonds., Auth. Sec. 3939, Gen. Code.
Denom. (14) $400, (1)
$756 86.
Date Aug. 1 1913.
Int. M. & S. at People's State Bank, Lis¬
bon.
Due 1 bond yearly on Mar. 1, beginning 1915.
Cert, check for
$200 required.
Bonds to be delivered and paid for on Sept. 1.
Bids must
be unconditional.
CHAMPAIGN, Champaign County, 111.—BONDS VOTED.—The
question of issuing the $ 17^000 fire-department-improvement bonds (V. 97,
252) carried at the election held July 29 by a vote of 514 to 471.
■»
p.
BIEBER SCHOOL DISTRICT, Lassen County, Cal.—BONDS NOT
SOLD.—No sale was made on July 8 of the $2,000 school bonds offered on
that day.
xcvii.
Date Oct. 1 1913.
Int. semi-ann. at Bank of Castile in N. Y. exchange.
Due $1,000 on Oct. 1 1914 and $2,000 yrly. thereafter.
Cert, check for
1 % of bonds bid for required.
BELTON, Bell County, Tex.—DESCRIPTION OF BONDS.—We are
advised that the $20,000 water-works-impt. and $45,000 street-impt.
bonds voted July 2 (V. 97, p. 129) are in the denomination of $500 and bear
State Treasury.
[Vol.
CHAMPAIGN AND FORD COUNTIES DRAINAGE DISTRICT,
111.—BOND SALE.—We reported in the "Chronicle" of the week or
July 26 that the Hanchett Bond Co. of Chicago recently purchased an issue
of $24,000 6% drainage bonds.
It was also stated that an issue of $24,000
Sangamon and Drummer Drainage District, 111., bonds was not disposed
of.
We
(P. O
De Pauw), Harrison
County, Ind.—WARRANT SALE.—The $1,563 6% 3-year (average)
school warrants offered on July 18 (V. 97, p. 129) have been awarded to
learn that both issues
are
the
same.
Wash.—BOND
p. m. to-day (Aug. 9) by
McGillicuddy, County Treas. (P. O. Montesano), it is stated, for
$90,000 6% bonds.
Cert, chebk for 2% required.
J.
A.
CHICOPEE, Hampden County, Mass.—LOAN OFFERING.—Reports
state that proposals will be received until 12 m. Aug. 12 by the City Treas.
for a temporary loan of $50,000 in anticipation of taxes, maturing Jan. 15
1914.
CINCINNATI, Ohio.—BOND SALES OVER THE CO t/OTFB.—News¬
paper dispatches dated Aug. 8 state that the City Auditor announced that
to date he has sold $732,000 park, street and sewer bonds over the counter.
(V. 97,
'
311.)
p.
BONDS DEFEATED.—The question of issuing $100,000 hospital-com¬
pletion bonds (V. 96, p. 1853) was defeated at the election held Aug. 2
by a vote of 31,699 "for" to 18,313 "against," a two-thirds majority being
necessary to
authorize.
CLARKE COUNTY (P. O. Vancouver), Wash.—BOND ELECTION.
—Reports state that the election to submit to a vote the question of issuing
the $500,000 4% 15-30-year (opt.) (county's share) Columbia River bridge
bonds (V. 96, p. 1716) will be held Aug. 12.
CLAY
papers
TOWNSHIP
now
CHEHALIS COUNTY SCHOOL DISTRICT NO. 28,
OFFERING.—Proposals will be received until 1
COUNTY
(P.
O.
Brazil), Ind.—BONDS NOT SOLD.—Local
state that no sale has been made of"$27,600 Wolfe Road, $4,800
Road and $11,600 Syester Road 4 }i% tax-free bonds recently
Hendrix
offered.
BOND
OFFERING.—Proposals will be received until 11:30
a. m. Sept. 12,
4% court-house bonds.
the First National Bank of Milltown at par.
it is stated, by E. A. Staggs, Co. Aud., for $30,500
BOONE COUNTY (P. O. Lebanon), Ind.—BONDS AWARDED IN
PART.—Of the two issues of 4 lA% gravel-road bonds, aggregating $11,920,
CLEAR CREEK TOWNSHIP (P. O. Harrodsburg), Monroe County,
Ind.-r—BOND OFFERING .—Reports state that proposals will be received
offered on July 10 (Y. 97, p. 65), $8,000 was awarded to Breed, Elliott &
Harrison of Indianapolis on July 21 at par.
Denom. $400.
Date Apr. 15
1913.
Int. M. & N.
Due $400 each six months from May 15 1914 to
Nov.
15 1923 incl.
BRAZORIA COUNTY (P. O. Angleton), Tex.—BOND ELECTION.—
An election has been called for Aug. 28, it is stated, to vote on the question
of
issuing $75,000 Velasco Road District bonds.
BREMEN, Fairfield County, Ohio.—BOND SALE.—On July 26 the
$6,000
1-20-year (ser.) street-impt. (village's portion) bonds (V. 97,
&.ther
129)bids
were
awarded to the Bremen Bank Co., Bremen, at 102 and int.
were:
Weil, Roth & Co., Cincinnati
Field, Longstreth & Co., Cincinnati
S. Pond, Somerset
$6,069
6,001
6,001
M.
Otis & Co. of Cleveland also submitted
a
bid.
until
2 p. m. Aug. 18
school-building bonds.
Bank of Bronxville at par for 4%s.
Denom.. (4) $1,100, (10) $400.
Int. P. & A.
Due on Aug. 1 from 1918 to 1928.
Date
Aug. 1 1913.
CADIZ, Harrison County, Ohio.-—BOND SALE.—On Aug. 4 the $16,500
5%- 14-year (av.) coup, street-paving bonds (V. 97, p. 129) were
to the People's Bank Co.
of Coshocton for $16,525 and int.,
equal to 100.151.
There were no other sealed bids.
'
accrued
CAIRO, Alexandria County, 111.—BOND SALE.—On Aug. 4 the
$100,000 4H% levee bonds voted Feb. 25 (V. 96, p. 739) were awarded
the First Bank & Trust Co. of Cairo at par.
Denom. $1,000.
Date
July 1 1913.
Int. J. & J.
Due $5,000 yearly on July 1 from 1914 to 1933
to
inclusive.
.
CALIFORNIA.—BOND
OFFERING.—Reports state that E. D Rob¬
erts, State Treasurer (P. O. Sacramento), is offering for sale on Aug. 15
$3 ,000,000 harbor-improvement bonds.
CAMDEN,
.
Preble
County,
Ohio.—BIDS.—The following bids
were
received
on July 14 for the $2,500 6% Tibbetts Creek Levee bonds awarded
that day to the First Nat. Bank of Barnesville at 100.44 and interest
on
(V. 97,
p.
189):
Stacy & Braun. Cincinnati.$2,502 751 First Nat. Bank, Camden_$2,500 00
CAMDEN, Kershaw County, So. Caro.—BOND OFFERING.—We
advised, under date of Aug. 4, that the two issues of 5% 20-40-year
(opt.) coupon bonds, aggregating $125,000, offered without success on
June. 27 (Vi 97., p. 66), will be sold at private sale.
are
CAMDEN
COUNTY
(P. O. Camden), N. J.—BOND OFFERING.—
Proposals will be received until 11a.m. Aug. 13 by the Board of Freehold¬
ers, F. W. George, Clerk, for $60,000 to $75,000 4coup, or
reg.
Newton Creek bridge-construction bonds.
Denom. $1,000.
Date Aug. 1
1913.
Int. F. & A. at the U. S. Mtge. & Tr. Co., N. Y.
City.
Due
Aug. 1 1933.
Certified check on a national bank for 5% of bonds bid for
(not exceeding $3,000), payable to County Collector, required.
Bonds to
be delivered and paid for on or before
interest.
Bids
to
be
bonds will be certified
N.
Sept. 9.
Purchaser to pay accrued
furnished by the Board.v" These
to genuineness by the U. S. Mtge. & Tr. Co. of
made
as
on
blanks
Y.^Gity. Similar bonds were offered without
success on May 14 (V.
CANTON, St. Lawrence County, N. Y.—BOND SALE.—On Aug. 1
the $13,000 4%
bridge bonds (V. 97,
at par.
Denom. $250.
Date Aug.
part yearly.
CARRINGTON,
Foster
p.
1
County,
—An election will be held Aug. 15, it is
issuing $26,000 water bonds.
CARROLL
SCHOOL
DISTRICT
252) were sold to private parties
1913*
Int. ann. in Feb.
Due
No.
Dak.—BOND ELECTION
stated, to vote on the question of
(P. O.
Carroll), Wayne County,
Neb.—BONDS VOTED.—The voters of this district at an election hel<i
July 21 authorized the issuance of $20,000 bldg. bonds, according to local
papers.
CARTERSVILLE, Jasper County, Mo.—BOND OFFERING.—Addi¬
tional details
are at hand relative to the offering on
Aug. 21 of the $12,000
6% coup, city-hall-bldg. bonds (V. 97, p. 252).
Proposals for these bonds
will be received until 5
p. m. on that day by A. M. Baird, City Clerk.
Auth. Sees. 9252 and 9544, Rev. Stat, of
Mo., 1909.
Denom. $1,000.
Date Aug. 1 1913.
Int. F. & A. at the. City Treas. office or First Nat. Bk.
of Cartersville, at option of purchaser.
Due Aug. 1 1933, subject to call
*1918.
™
First Nat.
Cert, check
Bank of Cartersville for
?913 $8(X)°000
CASCADE
either the Miners' Bank or the
$500, payable to the City Treas., reon
bt' including this ksue, $26,000. Assessed val.
60unty
SCHOOL DISTRICT No. 49 (P. O.
Cascade),
Mont.—BONDS NOT SOLD.—No sale was made on
July 30 of the $1,506
6% school bonds offered on that day (V. 97, p. 129).
CASCADE COUNTY SCHOOL DISTRICT NO.
75, Mont.—BOND
OFFERING.—Reports state'that this district is offering for sale $1,200 6%
6-year building bonds.
L. Meltsch is District Clerk (P. O. Stockett).
CASTILE
County,
12
N.
SCHOOL' DISTRICT
Y.—POND
NO.
1
(P.
O.
OFFERING.—Proposals
Castile)*
will
be
Wyoming
received
until
Aug. 22 by the Bd. of Ed., C. D. Yan Arsdale, Sec., for $95,000
coup, bonds at not exceeding 5% int.
Denom. (1) $1,000, (12) $2,000.
m.
Trustee,
'
interest.
'
COITSVILLE
for
$4,488 50 4%
.-
TOWNSHIP
Mahoning
>
DISTRICT?
SCHOOL
County,
Ohio.—BOND
(P.
O.
East
OFFERING.—Pro¬
posals will be received until 7:30 p. m. Aug. 15 by C. F. Shipton, Clerk
Board of Education, for $8,000 5Ji% school bonds.
Auth; Sees. 7629 and
7630,
Revised
Statutes.
Denom.
$500.
Date
Aug.
15
1913.
Int.
F. & A. at Commercial Nat. Bank, Youngstown.
Due $1,000 yearly on
Aug. 15 from 1920 to 1927, inclusive.
Certified check for $1,000, payable
to Clerk, required*
Bonds, to be delivered and paid for on Aug. 15.
These
bonds
were
awarded
.
Sherlock,
CLOVERDALE,
Putnam" County,
Ohio*—BOND OFFERING.—
Proposals will be received until 12 m. Sept. 1 by S. A. Stirn, Vil. Clerk, for
$1,200 6% village-hall bonds.
Auth. Sec. 3939, Gen. Code.
Denom.
$300.
Date Sept. 1 1913.
Int. M. & S.
Due $300 yearly on Sept. 1
from 1914 to 1917 incl.
Cert, check for $100 required.
Bonds to be de¬
livered and paid for within 10 days from time of award.
Purchaser to pay
Youngstown),
BRONXVILLE, Westchester County, N. Y.—BOND SALE.—On
July 29 $8,400 road and sewer bonds were awarded to the Gramatan Nat.
Frank
by
CLINTON COUNTY (P. O. Frankfort), Ind.—BOND OFFERING.—
Proposals will be received until 10 a. m. Aug. 14 by E. M. Caldwell, Co.
Treas., it is stated, for 12 issues of 4highway-impt. bonds, aggregating
$54,240.
.«■
offered without
success as
5s
on
July 25 (V. 97, p. 311).
County, Ga.—BONDS VALIDATED.—On
July 30 Judge Price Gilbert of the Superior Court validated the $60,000
4^j% gold coup, hospital bonds voted July 16 (V. 97, p. 252). It is ex¬
pected that the bonds will be offered some time in October. \
COLUMBUS,
Muscogee
COLUMBUS, Ohio.—BOND SALES.—During the seven months end¬
ing July 31 the following general bonds were purchased by the Sinking
Fund at par and interest:
Ami.
Int.
Purpose—
Date..
Int.Mos.>
Due.
$50,000
5
Flood-emergency.
.Apr.
1 1913
Annual
Apr. 1 1914
25,000
Flood-emergency
Apr.
1 1913
M.&S.
Sept. 1 1923
50,000
5
Flood-emergency....Apr. 21 1913
Annual
Sept. 1 1923
50,000
5
Flood reinstatement..Apr. 21 1913
Annual
Sept, 1 1923
60,000
5
Flood-emergency
May 19 1913
Annual
Sept. 1 1923
20,000
5
Flood-emergency
May 19 1913
M.&S.
Sept. 1 1933
50,000
5
Flood reinstatement__May 19 1913
Annual
Sept. 1 1922
5,000
4
Penna. Ave. opening-Jan. 16 1913
M.&S.
Sept. 1 1932
30,000
5
Electric-light-plant ..May 19 1913
M.&S.
Sept. 1 1933
_
__
Street-repair.......-June 13 1913
M.& S.
Sept..1 1923
Sanitary emergency..July 18 1913
M.&S.
Sept. 1 1918
and 5% assessment bonds, totaling $200,000, were also
purchased during the seven-months' period.
25.000
5
5
5,000
Issues
of 4%
(P. O. St. Joe), De Kalb County, Ind.--•
Aug. 1 the $18,000 1-12-year school-building bonds
129) were awarded, it is stated, to Breed, Elliott & Harrison
of Indianapolis for $18,042—equal to 100.233.
CONCORD TOWNSHIP
BOND
SALE.—On
(V. 97, p.
CONRAD,
Teton County,
Mont.—BOND
SALE.—On July 28 the
$10,000 6% sewer bonds (V. 96, p. 1716) were awarded to Spitzer, Rorick
& Co. of Toledo at par.
Denom. $500.
Date Aug. 1 1913.
Other bidders:
C. H. Coffin, Chicago.
$10,010 J J. N. Wright & Co., Denver.-$9,000
J. Nuveen & Co., Chicago— 10,0001
CRESTLINE, Crawford County, Ohio.—BOND OFFERING.^Pro¬
posals will be received until 12 m. Aug. 25 by M. J. Strauch, Village Clerk,
for the following 5% Thoman St. improvement bonds:
*1? ,500 assessment bonds.
Denom. $1,250.
5,500 village's portion bonds.
Denom. $550.
Date Sept. 1 1913.
Int. M. & S.
Due one bond of each issue yearly
Sept. 1 from 1914 to 1923 incl.
Bonds to be delivered and paid for within
10 days from time of award.
Certified check for $500, payable to the Vilage Treasurer, required.
Purchaser to pay accrued interest.
CUYAHOGA
COUNTY
(P.
O.
Cleveland),
Ohio.—BOND OFFER¬
INGS.—Proposals will be received until 11 a.m. Aug. 16 by J. F.Goldenbogen, Clerk Board of County Commrs., for the following 5% coupon
Emery road-impt. bonds:
Denom. (1) $485, (25) $500.
Due $485 on
Oct. 1 1915, $500 each six months from April 1 1916 to April 1 1922,
incl., and $l,0()O each six months from Oct. 1 1922 to April 1 1925,
$12,985 (assessment) bonds.
inclusive.
Denom. (1) $141, (50) $1,000.
Due
1 1915, $2,000 each six months from April 1 1916 to
1920, incl., $3,000 each six months from April 1 1921 to
Oct. 1 1923, incl., and $4,000 each six months from April 1 1924
to April 1 1925, inclusive.
Auth. Sees. 2294, 2295, 6912, 6912-1 and 6913, General Code.
Date
Aug. 1 1913.
Int. A. & O. at office of County Treasurer.
An uncondition¬
al certified check on a bank other than the one making the bid, for 1 % of
bonds bid for, payable to County Treasurer, required.
Bonds to be de¬
livered and paid for within 10 days from time of award.
Purchaser to pay
accrued int.
All bids must state separately the amount bid for ^ch issue.
Proposals will be received until 11 a* m. Aug. 20 by J. F. Goldenbogen,
Clerk of County Commissioners, for the, following 5% coup. Kinsman
road-improvement bonds:
50,141
(county's portion) bonds.
$141 Oct.
Oct.
1
^
,
Aug. 9
THE
1913.]
CHRONICLE
61,739 (county's portion) bonds.
Denom. (1) $739, (6) $1,000.
Due
$739 Oct. 1 1915, $1,000 April 1 1916, $3,000 on Oct. 1 1916 and
April 1 1917, $4,000 each six months from Oct. 1 1917 to April 1
1920 incl. and $5,000 each sixmonths from Oct. 1 1920 to April 1
1923 inclusive.
Auth. Sees. 2294, 2295, 6912, 6912-1 and 6913, Gen. Code.
Date Aug. 1
1913.
Int. A. & O. at office of County Treasurer.
An unconditional certi¬
fied check on a bank other than the one
making the bid, for 1% of bonds
bid for, payable to County Treasurer, required.
Bonds to be delivered and
£aid
iterest.
for within
Bids must
10 days
from
time of the
award.
Purchaser
pay
accrued
state
separately
amount
bid for to
each
issue.
Proposals will be received until 11 a. m Aug. 20 by J. P. Goldenbogen,
of Commrs., for $1,000,000 5% coup. Detroit-Superior bridge
Denpm. $1,000.
Date Aug. 1 1913.
Int. A. & O. at office of
Due $16,000 each six months from April 1 1914 to
County Treasurer.
Oct. 1 1922 incl. and $17,000 each six months from April 1 1927 to Oct. 1
Clerk Bd.
bonds.
1946 incl.
An unconditional certified check
bank other than the
on a
one
making the bid for 1% of bonds bid for required.
Bids must be uncondi¬
tional and upon blank forms furnished by the county.
391
held July 15.
Int. (rate to be named in bid.) ann.
Due from 3 to 14 yrs.
subject to call any interest-paying day.
Cert, check for 10% of bonds bid
for, required.
FREMONT, Dodge County, Neb.—BOND SALE.—On July 19 the
remaining $13,000 of an issue of $25,000 5% 5-20-yr. (opt.) paving bonds
(V. 96, p. 1786) was awarded to the State of Nebraska at par.
FREMONT COUNTY SCHOOL DISTRICT NO. 12.—Wyo.—BOND
OFFERING.—Proposals will be received until 10 a. m. to-day (Aug. 9) by
(care State Bank of Pinedale) for $3,000 6% 10-yr. coup,
school bonds.
Denom. $100.
Date Aug. 9 1913.
Int. ann.
the school trustees
FRIO
COUNTY COMMON SCHOOL DISTRICT HO.
13,
Tex.—
BOND SALE.—On July 10 $3,000 5% 10-40-yr. (opt.) bonds dated April 10
were
bought by the State School Fund at par and int.
FULLERTON, Nance County, Neb.—BOND OFFERING.—Proposals
wdll be received until Aug. 19, time extended from July 15, for the $10,000
bonds (V. 97,
5% 10-20-yr. (opt.) water
130).
p.
GALVESTON COUNTY (P. O. Galveston), Tex.—BOND ELECTION.
addition to the question of issuing the $250,000 road bonds, to be
voted upon on Aug. 26 (V. 97, p. 190), reports state that the proposition
to issue 1350,000'seawall-extension bonds will also be submitted to a vote.
—In
DANSVILLE, Livingston County, N. Y.—BONDS NOT SOLD.—No
bids
received
were
Aug.
on
paving bonds offered
on
1 for the $43,400 5%
(V. 97, p. 252).
10 5-6-year
(average)
that day
price paid for the four issues of 5% coupon bonds awarded on July 15
(V. 97, p. 190) was as follows:
$40,900 street, $45,000 water-works and $72,200 storm-water-sewer bonds
to the Dayton Savs. & Tr. Co. for $160,188.25 (101.320+).
18,000 Ohmer Park sewer bonds to O. E. Dennison & Co. of Cleveland at
100.271+.
•«-"
DELAWARE COUNTY (P. O. Muncie), Ind.—BONDS NOT SOLD.-r~
were received on July 18 for the $3,200
4H% A. Templin road
No bids
bonds offered
to
that
on
day (V. 97,
p.
Due one-tenth yearly from 1914
129).
1923, inclusive.
DEMOPOLIS
-
SCHOOL
DISTRICT
(P. O. Demopolis), Marengo
County, Ala.—BONDS VOTED.—The election held Aug. 4 resulted in
favor, it is stated, of the question of issuing the $20,000 6% 10-yr. bldg.
bonds (Y. 97, p. 252).
Int. semi-ann.
DICKSON
COUNTY
BONDS.-—We
(P.
O.
Charlotte),
Tenn.—PURCHASER OF
advised that the purchaser of the $250,000 5%
are
road bonds recently awarded at 100.16
Co. of Chicago.
(V. 97,
311)
p.
was
30-year
A. B. Leach &
city is offering at private
Q)
$490 71, (15) $500.
City Clerk.
GENEVA, Ontario County, N. Y.—BOND SALE.—On Aug. 4 an
issue of $65,000 5% city-hall bonds was awarded to Douglas Fenwick & Co.
at par and int.
Denom. $500.
Date April 1 1913. Due $4,000 yearly
on April 1 from 1914 to 1929 incl. and $1,000 on July 1 1930.
GILROY, Santa Clara County, Cal.—PRICE PAID FOR BONDS.—
that the price paid for the $35,000 6% 17 1-3-yr (aver.)
paving bonds awarded to the Bank of Gilroy on July 7 (V. 97, p. 190) was
We are advised
Int. J. & J.
Angeles County, Cal.—BOND ELECTION.—
election will be held to-day (Aug. 9) to vote on the
question of issuing $25,000 water bonds.
GLOVERSVILLE, Fulton County, N. Y.—BONDS AWARDED IN
PART.—Of the $50,000 4H % local-impt. bonds offered on July 17 $24,500
awarded on that day to local investors at par and Int.
Subsequently
the
county taxes.
'
DOVER, Cuyahoga County, Ohio.—BOND SALE.—On Aug. 1 the
5% bonds, aggregating $10,000 (V. 97, p. 190), were awarded
the State Savings Bank of Canal Dover at par.
J
$2,250 were sold July 22, $1,000 July 25 and $1,250 July 29.
The sale of the
remaining $21,000 was adjourned from Aug. 1 to Aug. 5, then again until
to-day (Aug. 9).
•
GRAND FORKS, Grand Forks County, No. Dak.—BOND ELEC¬
TION.—On Aug. 12 a vote will be taken, according to local newspapers, on
DRUM VALLEY SCHOOL DISTRICT, Tulare and Fresno Counties,
Cal.—BIDS REJECTED.—Reports state that the two bids received for
the $2,000 7%
DYER
building bonds offered
COUNTY
O.
(P.
on
July 25
Dyersburg),
were
rejected.
Tenn.—BOND
SALE.—The
bid of par and int. submitted by the First Nat. Bank, the Citizens' Bank and
the Mercantile Bank & Trust Co. of Dyersburg for the $75,000 5% coupon
funding bonds (V. 97, p. 190) has been accepted.
DYSART,
Tama County,
Iowa.—BONDS REFUSED.—We
vised that J. P. O'Brien & Co. of Boston have refused to accept
5H%
lOH-year (av.)
them on June 6 (V. 96
are ad"
the $10 000
electric-light-plant. borids awarded to
Municipal
p. 1717).
question of issuing $12,000 municipal slaughter-house bonds at not
exceeding 4% int.
two Issues of
to
Los
GLENDORA,
Reports state that an
and
(P.
Date July 1 1913.
Denom. $500.
par.
were
COUNTY
CALLED OFF.—The election to vote
N. J.—BONDS NOT SOLD.—No bids were received on
30-yr. coupon water bonds offered on that day.
GARFIELD,
Aug. 1 for the $85,000 5%
O. Albany), Ga.—BOND ELECTION
on the questions of issuing the $20,000
bridge-construction, $30,000 road-construction and $40,000 school-building
and equipment 5% 30-year gold bonds, which was to have been held July 24
(V. 97, p. 190), was called off, it is said, because it was discovered that
nearly two-thirds of the voters were disqualified for non-payment of State
DOUGHERTY
CITY, Finney County, Kan.—BOND OFFERING.—This
sale $7,990 715% 20-yr. refunding bonds. Denom. ■>
Date July 1 1913. Int. J. & J. J. F. Crocker is
GARDEN
DAYTON, Ohio.—PRICE PAID FOR BONDS.—Reports state that the
COUNTY
GRANT
(P.
O.
Marion),
Ind.—BOND OFFERING.—
E. H. Kimball, County
Proposals will be received until 2 p. m. Sept. 16 by
Auditor, it is stated, for $30,000 5% flood bonds.
BONDS AWARDED IN PART.—On
Aug. 6 $6,200 of the nine issues"of
4H% tax-free highway-impt. bonds, aggregating $63,400
awarded to local bidders at par and int.
CV.97,
COUNTY
SCHOOL
p.
312),
'
were
DISTRICT
NO. 21, Wash.—BOND
SALE.—On July 26 the $9,000 5-10^year (opt.) school bonds (V. 97, p. 130),
dated Aug. 1 1913, were awarded to the State of Washington at par for
5Hs.
W. D. Perkins & Co. of Seattle and Keeler Bros, of Denver each
bid par for 6s.
GRANT
GRAYSON COUNTY (P. O. Sherman), Tex.—BONDS REGISTERED.
30 the State Comptroller registered $35,000 6% 5-20-yr. (opt.)
bridge-improvement bonds.
•.
BOND SALE.—On Aug. 1 the State Permanent School Fund purchased
—On July
EASTERLY INDEPENDENT SCHOOL DISTRICT (P. 0. Easterly),
Robertson County, Tex.—BONDS VOTED.—The question of issuing $2,500 school bonds carried at a recent election.
the above bonds at par.
GREENE COUNTY (P. O. Snow Hill)
No. Car .—BOND ELECTION.
EASTWOOD, Onondaga County, N. Y.—BOND SALE.—On July 31
the $85,000 5-2(+yr. (ser.) sewer bonds (V. 97/p. 190) were awarded to the
Syracuse Tr. & Dep. Co. of Syracuse at 100.272 and int.
—An election will be held Aug. 12, reports state, to vote on the proposition
to Issue $180,000 road bonds.
*
ELDON INDEPENDENT
SCHOOL DISTRICT
(P.
O. Eldon)
Wapello County, Iowa.—BOND SALE.—We are advised that thi
M. Bechtel & Co. of Davenport the $7,500 schoo
GREENSVILLE, Greene County, Tenn.—BONDS AWARDED IN
PART.—We are advised under date of Aug. 2 that of the $55,000 water and
sewerage-system-constr. bonds voted June 3 (V. 96, p. 1786) ,$15,000
water bonds have been disposed of.
district has sold to G.
bonds registered on June 29
(V. 97, p. 66).
'
.
'
ELMIRA, Chemung County, N. Y.—BOND OFFERING.—Proposals
will be received until Aug. 11
by O. H. Gardner, City Clerk, for $200,000
4M% bonds.
Denom. $500 and $1,000.
Int. semi-ann.
Due 1 to 20 yrs.
Sept. 11913. These bonds take the place of the two issues of pave¬
ment bonds, aggregating $200,000 offered on Aug. 4 (V. 97, p. 252.)
from
EL
MONTE
UNION
HIGH
SCHOOL
DISTRICT,
Los
Angeles
County, Cal.—BOND OFFERING.—Proposals will be received until
2p.m. Aug. 18 by the Board of County Supervisors (P. O. Los Angeles)
for $15,000 5% building bonds.
ELSINORE
GRAMMAR
SCHOOL
DISTRICT
O.
(P.
Elsinore),
Riverside County, Cal.—BONDS VOTED.—By a vote of 73 to 21 the
question of issuing the $3,000 improvement bonds (V. 97, p. 190) carried,
it is stated, at the election held July 25.
ENDICOTT SCHOOL DISTRICT NO.
1 (P. O. Endicott), Broome
County, N. Y.—BONDS VOTED.\—By a vote of 383 to
of issuing $85,000 building bonds carried at the election
ESCONDIDO,
San Diego
County,
the Board of Trustees advises
us
88 the question
held Aug.
that the vote cast
at the election held
on the propositions to issue the $100,000
water-system,
$4,000 fire-apparatus and $6;Q00 bridge 5% 10-40-yr. (ser.) bonds (V. 97,
p. 130) was 379 to 74. 371 to 73 and 320 to 113 respectively.
(P. O. Salem), Mass .—BOND OFFERING.—Pro¬
posals will be received until. 11 a. m. Aug. 11 by the Co. Commrs., D. I.
Robinson, Co. Treas., for $65,000 4% coup, tax-free Independent Agri¬
cultural school bonds.
Denom. $1,000 and $500.
Date Aug. 1 1913.
Int. F. & A. at First Nat. Bank, Boston.
Due $3,500 yrly. on Aug. 1 from
1914 to 1923 incl. and $3,000 yrly. on Aug. 1 from 1924 to 1933 incl.
-These
bonds will be certified as to genuineness by the First Nat. Bank and their
legality approved by .Ropes, Gray & Gorham of Boston, whose opinion will
be furnished successful bidders.
FALKVILLE, Morgan County, Ala .—BOND SALE,—According to
reports, this town recently sold to W. J. Nesbit of Decatur and associates
at par an issue of $7,000 street-impt. bonds.
•
SCHOOL
DISTRICT
NO, 21 (P.
O. Filbert),
York
County, So. Caro.—BONDS VOTED.—By a vote of 15 to 3, the question
of issuing $1,250 6% building bonds carried, reports state, at the election
held July 25.
'
•
,
.
FLORIDA SCHOOL TOWNSHIP (P. O. Rosedale), Parke County,
Ind.—BOND OFFERING.—Further details are at hand relative to the
offering on Aug. 12 of the $15,000 4% coup, tax-free bldg. bonds.
Pro¬
posals for these bonds will be received until 2
day by H. Allbright, Trustee.
Denom. $500.
Date Aug. 12 1913.
Int. ann. on Aug.12
at Rosedale Nat. Bank.
Due $3,000 yrly. on Aug. 12 from 1914 to 1918
incl.
Bonded debt (incl. this issue), $51,492; assess, val., $2,311,135.
FORT
are
PAYNE,
advised that
no
De
Kalb
,
FRANKLIN,
County, Ala.—BONDS NOT SOLD.—We
20-year school-
(V. 96, p. 1437).
Norfolk County,
ah issue of $25,000
p. m. on that
sale has been made of the $10,000 4%
bldg. bonds offered on June 1
coupon tax-free water
N. W. Harris & Co. of Boston at 102.567 and int.
SALE.—On
bonds
was
July
awarded
Other bidders
31
to
were:
Estabrook& Co., Boston
102.39|Blake Bros. & Co., Boston._ 101.65
Blodget & Co., Boston
,101.781Merrill, Oldham & Co., Bos.101,279
Date Aug. 1 1913.
Int. F. & A. at Franklin Nat. Bank, Franklin.
Due $1,000 yearly on Aug. 1 from 1914 to 1938, inclusive.
FRANKLIN,
bids
were
Warren
County,
received, it is stated, for
offered on July 26.
Ohio.—BONDS NOT SOLD.—No
issue of $12,000 emergency bonds
an
FRANKLIN TOWNSHIP (P. 0. So. Boston),
Washington County,
Ind.—WARRANT OFFERING.—Proposals will be received until
Augg 19, reports state, by B.
lp.m.
F. Traylor, Twp. Trustee, for $1,500 6%
township warrants,
v
FREEPORT, Stearns County, Minn.—BOND OFFERING.—Proposals
will be received until 8 p. m, Aug. 12 by FT. Schaeuer, Prest; Vfl.
Council,
for $6,000 electrio-light bonds.3
Auth. vote of 46 to 23 at the election
Pitt
County,
No.
Caro.—BONDS
*"
COUNTY
HAMILTON
O. Cincinnati). Ohio.—BONDS NOT
Aug. 1 for the $336,888.13 4Vi % 30-year
flood-emergency bonds offered on that day (V. 97, p. 253).
SOLD.—No bids
were
(P.
received
on
HANKINSON, Richland County, No. Dak.—BOND SAZJS.—Reports state that $5,000 funding, $5,000 city-hall, fire-house and jail-erection
and $10,000 water-works-system 5% bonds have been purchased by the
State at par.
«
\
TOWNSHIP
(P.
O.
Hanover
Center),
;
Lake
County,
Ind.—BOND OFFERING.—Proposals will be received until 12 m. Aug. 23
by M. Schillo, Twp. Trustee, for $7,500 5%_school-bldg. bonds.
Denom.
$500.
Date Aug. 23 1913.
Int. F. & A.
Due $500 each six months from
July
upon
2 1914.
All
application.
necessary
blanks
will be furnished by
Twp.
Trustee
HARRISON COUNTY (P. O. Corydon), Ind.—BOND OFFERING.—
Proposals will be received until Aug. 23 by J. D. Pitman, Co. Treas. for
highway-impt. bonds offered without success on Aug. 2 (V. 97,
253).
•
•
the $14,720
p.
HARRISON TOWNSHIP SCHOOL DISTRICT (P. O. Fhilo), Musingum County, Ohio.—BOND OFFERING.—Proposals will be received
a. m. Aug. 15 by the Board ^pf Ed., A. J. Krier, Clerk, for $1,000
6% 5-yr. coup: flood-emergency bonds.
Denom. $506.
Date Aug. 15
1913.
Int. F. and A. at office of Treas. of Bd. of Ed.
Cert, check (or
cash) for 10% of bonds bid for, required.. '
until 10
HARTFORD,
Van
An election will be held
water-works
bonds.
HEMPSTEAD
Buren County, Mich.—BOND ELECTION.—
Aug. 11 to vote on the question of issuing $4,000
,
(Town),
Union Free School District No. 24 (P. O.
Nassau County,. N. Y.—BOND SALE.—On Aug.
6
Valley Stream),
the $24,000 5% 16M-yr. (av.) bldg. bonds (V. 97, p. 312), were awarded
to Curtis & Sanger of N. Y. for $24,033.33 (100,138)
and int.
Other bids
were:
Douglas, Fen wick & Co.,N.Y.$24,025 IFarson, Son & Co., N. Y.__$24,000
Harris, Forbes & Co., N. Y. 24,000 f
less $600 for legal expenses.
HENDRICKS, Lincoln County, Minn.—BOND OFFERING.—Pro¬
posals will be received until 8 p. m. Aug. 15 by A. L. Swenson, Village
Clerk, for $3,000 6% 6-year refunding bonds. Bonded debt, $9,000. As¬
sessed valuation 1912, $143,173.
These bonds were offered without suc¬
cess on July 18.
HERKIMER, Herkimer County, N. Y.—BOND SALE.—On July 29
Mass .—BOND
4H%
TOWNSHIP,
VOTED.—This township, according to reports, has voted to issue $50,000
COUNTY
FILBERT
GREENVILLE
„
DISTRICT
road bonds.
HANOVER
oj
June 28 to vote
ESSEX
FIRE
(P. O.
Greenfield), Franklin
County, Mass.—BOND SALE.—On Aug. 2 an issue of $50,000 4H%
water-supply bonds was awarded toR. L. Day & Co. of Boston at 100.699.
Denom. to suit purchaser.
Date June 1 1913.' Int. J. & D.
Due $3,500
yearly 1914-1918, inclusive, and $3,250 yearly 1919-1928, inclusive.
1.
Cal.—VOTE.—The President
GREENFIELD
the $30,500 refunding bonds (V. 97, p. 191) were awarded to Douglas Fen¬
Co. of N. Y. for $30,512 (100-039) for 5s.
Denom. (29) $1,000.
wick &
(1) $1,500.
Date Aug. 1 1913.
Int. F. & A.
1914 to 1942 incl. and $1,500 in 1943.
HIGHLAND
PARK,
Wayne
County,
Due $1,000 yearly from
Mich.—BOND
SALE.—The
Village Clerk advises us that this village recently disposed of the $45,000
4H% 20-year water-extension bonds,at par and int., offered on July 21
(V. 97, p. 191).
Denom. $1,000.
liate July 15 1913. Int. J. & J.
HIGH
POINT,
Guilford
County, No.
Caro.—BOND
SALE— Re¬
ports state that the two issues of 5% 30-yr. coup, bonds, aggregating $100,000, offered without success on July 7 (V. 97, p. 130). have been sold at
par as follows:
$5,000 to the National Travelers' Protective Ass'n of High
Point, $20,000 tol. G. Lawrence of High Point and the remainder, $75,000,
to the Commercial Nat. Bank of High Point.
Sfea
_
DISTRICT NO.*28T(P. O. Inverness),
July 26 the $5,000 6% 5-20-yr. (opt.) bldg.
bonds offered without_success on/June_21i(V. 97,!p.1.67) were awarded to
HILL
COUNTY
SCHOOL
Mont.-—BOND SALE— On
Keeler
Denver
of
Bros,
at
Denom.
par.
$500.
Date June
1913.
30
Int. J. & J.
HILLSBOROUGH COUNTY (P. O.
Tampa), Fla.—BONDS VOTED.
1854)
Date July 1 1913.
Int. A. & O.
April 1 from 1914 to 1923, incl.
required.
KENT
—The question of issuing tbe $1,000,000 5%
road bonds (V. 96, p.
carried, it is reported, at the election held July 31.
Hillsdale
yrly Sept. 15 '20-'25 incl.
HOBOKEN, Hudson County, N. J.—BOND OFFERING.—Proposals
13 by the Mayor and Council, J. H.
4H % coupon or reg. 30-yr. bonds.
Int. semi-ann.
Cert, check for $1,000
required with bids for re-pavement bonds and $500 required with bids
for
These bonds will be certified as to genuineness
re-improvement bonds.
by the Columbia-Knickerbocker Tr. Co. and their legality will be passed
Hawkins, Delafield & Longfellow of N. Y. City.
The official notices of this bond offering will be found among
in
elsewhere
ments
this
the advertise¬
Department.
HOLDEN SCHOOL DISTRICT (P. O. Holden), Johnson County.
Mo.—BOND OFFERING.—This district is offering for sale the $13,000 5%
67).
5-20-year (opt.) improvement bonds voted June 24 (Y. 97, p.
$500 and $1,000,
Date July 1 1913.
Int. J. & J.
Denom.
312)
awarded to the Harris Tr. & Savs. Bank of Chicago at 102.50
Hoehler & Cummings of Toledo bid $50,015 less $2,000 commis'n.
were
and int.
HOLMES COUNTY (P. O. Millersburg), Ohio.—BOND SALE.—On
Aug. 4 the $4,500 5% coup, flood-emergency bonds (V. 97, p. 312) were
awarded to the Commercial & Savings Bank of Millersburg for $4,501
(100,022) and int.
HOLYOKE, Mass.—BOND SALE.—On Aug. 7 the following 4K% gold
tax-free bonds, aggregating $247,000 (V. 97, p. 312), were awarded to
Blodget & Co. of Boston, at 100.911:
$157,000 municipal bonds.
Due $16,000 yearly on June 1 from 1914 to
1920 incl. and $15,000 yearly on June 1 from 1921 to 1923 incl.
reg.
Due $15,000 yearly on June 1
90,000 police and school bldg. bonds.
from 1914 to 1919 incl.
Date June 2 1913,
Other bids
Int. J. & D.
100.589
& Co., Boston
Curtis & Sanger, Boston
100.46
Perry, Coffin & Burr, Boston.100.45
Blake Bros., Boston
—100.37
N.W.Harris & Co..Inc.,Bostl00.478
HORSEFLY IRRIGATION DISTRICT (P. O. Bonanza), Klamath
County, Ore.—BONDS NOT SOLD.—No sale has been made of the $30,000
(of an issue of $775,000) 6% gold registered coupon bonds offered on
June 14 (V. 96, p. 1511).
SCHOOL
HUBBARD
DISTRICT
(P.
O. Hubbard), Hill County,
Tex.—BOND ELECTION.—An election will be held Aug. 11, reports state,
to decide whether or not this district shall issue
$20,000 building bonds.
HUMBOLDT COUNTY (P. O. Winnemucca), Nev.—BOND OFFER¬
ING.—Proposals will be received until 2 p. m. Sept. 2 by J. W. Davey,
Clerk, for $20,000 6% gold high-school bonds.
Denom. $500.
Int. annu¬
ally on July 1.
Due $2,000 yearly on the first Monday in July from 1914
to)1923, inclusive.
Certified check for 2% of bid required.
IRVING INDEPENDENT SCHOOL
DISTRICT, Tex.—BOND SALE.
July 10 $2,000 5% 5-40-yr. (opt.) bonds dated Feb. 1 were awarded
—On
to the State School Fund at par
(P. O. Dover), Del.—BOND OFFERING.—Reports
will sell $30,000 road bonds.
KOSCIUSKO
COUNTY
July 30 the $3,240 4lA%
J.
to
Warsaw), Ind.— BOND
(P. O.
SAL1$.—On
Denom.
$162.
Due June & Nov. 15 for 10 years.
Int. semi-ann.
LACKAWANNA COUNTY (P. O. Scranton), Pa.—BOND SALE.—
On Aug. 6 the $200,000 4H % 15-yr. road-impt. bonds (V. 97. p. 191) were
awarded to the Mellon Nat. Bank of Pittsburgh at 100.1375.
Denom.
Date Aug.
$1,000.
1
Int.'semi-ann.
1913.
LACON, Marshall County, 111.—BOND SALE .—On Aug. 4 two issues
of 5% coup, bridge bonds, aggregating $40,000, were awarded to .local
parties at par.
Denom. $500.
Date Aug. 4 1913. Int. ann. in Aug. at
Lacon.
Due part yearly from 1 to 16 yrs., subject to call at interest-paying
'
.
■
.
Cuyahoga
LAKEWOOD,
No bids
Ohio.—BONDS NOT
County,
SOLD.—
received for the four issues of 5% paving assessment bonds,
were
aggregating $25,170, offered on Aug. 4
(Y. 97,
131).
p.
LANCASTER, Fairfield County, Ohio,—NO BOND ELECTION.—We
advised that the newspaper reports stating that an election will be held
the question of issuing $125,000 light
bonds (V. 96, p. 1719) are erroneous
are
in the near future to submit to a vote
LANSING, Ingham County, !Mich.—BOND SALE.—On July 14 the
Pine St. paving bonds (V. 97, p. 131) were |awarded to the
of Detroit at par.
$17,000 5%
Detroit Trust Co.
LAUREL, Washburn County, Wis.—BONDS VOTED.—According to
reports, the questionjof issuing $4,600 sewer bonds
carried at a recent elec¬
tion.
SCHOOL DISTRICT NO. 16, So. Caro.—
BONDS NOT SOLD.—No award has been made of the $7,200 6% 20-year
LAURENS
COUNTY
school bonds offered on July 22 (V. 97, p. 191).
LAVACA COUNTY (P. O.
—This county is
Hallettsville), Tex.—BONDS PROPOSED.
contemplating the issuance of $25,000 road bonds.
LAWRENCE, Essex County, Mass.—LOAN OFFERING.—Reports
state that proposals will be received until 10 a. m. Aug.. 11 by the City
Treasurer for a loan of $100,000. in anticipation of taxes maturing April 4
1914.
;
,
LEBANON,
Boone
Ind.—BOND OFFERING.—Proposals
E. Connor, City Clerk, for $24,000
County,
will be received until 7p.m. Aug. 11 by
4K % refunding bonds.
LEBANON, Warren County, Ohio.—BOND SALE.—On Aug. 4 the
$15,000 5% coup. 17 1-3-year (aver.) gas bonds (V. 97,p. 191) were awarded
$12,000 to local banks at par and int. and $3,000 to L. S. Ivins for $3,025
and int.—equal to 100.833 + .
Other bidders were:
Provident Savings Bank & Trust Co., Cincinnati.....
$15,003
Seasongood & Mayer, Cincinnati
LEE
COUNTY
(P.
O. Fort Myers),
...
3,025
Fla.—BOND ELECTION PRO¬
POSED.—An election will be held in the near future, reports state, to vote
the question
on
and int
of issuing $200,000 road bonds.
LEWISTOWN,
less $1,150.
.
gravel-road bonds (Y. 97, p. 131) were awarded
$3,258, making the price 100.555+.
for
Grabner
Date June 15 1913.
;i
JACKSON, Jackson County, Mich.—BOND SALE.—On July 21 the
three issues of 4}4% municipal-impt. bonds aggregating $68,000 (V. 97, p.
131) were awarded to the Harris Trust & Savings Bank of Chicago at par
(P. O. Seattle), Wash.—BONDS AWARDED IN
state that arrangements have been ihade by the
papers
PWfKLAMATH FALLS, Klamath County, Ore.—BOND SALE.—On
July 14 $76,000 6% 20-year funding bonds were awarded to the Security
Sav. Bank & Trust Co. of Toledo for $76,386 (100.507) and int.
Denom.
$1,000.
Date July 1 1913.
Int. J. & J.
coupon
were:
R. L. Day & Co., Estabrook
& Co. and Merrill Oldham
'
Due one bond of each issue yearly on
Cert, check for 5% of bonds bid for
State to purchase $300,000 of the $3,000,000 road bonds (V. 97, p. 310)
dates.
HOLLAND SCHOOL DISTRICT (P. O. Holland), Ottawa County,
Mich.—BOND SALE.—On Aug. 4 the $50,000 4% % school bonds (V. 97,
p.
COUNTY
PART.—Local
City Clerk, for $300,000 re-pavement and $85,000 re-impt.
Londrigan,
upon by
KING
County,
will be received until 4 p. m. Aug.
COUNTY
xcvii.
state that this county
Mich.—BOND ELECTION,—We
learn that an election will be held Aug. 25 to decide whether or not this
city shall issue $6,000 4% Baw Beese Park purchase bonds.
Due $1,000
HILLSDALE,
[Vol.
CHRONICLE
THE
392
Nat.
Fergus
County,
Mont.—BOND
SALE.—The First
10-20-year
Bank of Lewistown wsa awarded on June 9 $15,000 5%
opt.) city-hall and fire-truck bonds for $15,010 (100.066) and int.
1,000.
Date Jan. 1 1913.
Int. J. & J.
Denom.
JACKSON COUNTY (P. O. Marianna), Fla.—BOND OFFERING.—
Proposals will be received until Aug. 16 by the Road Commissioners,
W. J. Singletary, Chairman, for $100,000 5% road bonds.
Int. ann. on
Oct. 1.
Due Oct. 1 1951.
Cert, check for $2,500, payable to above
Chairman, required.
These bonds are part of an issue of $300,000, of
which $200,000 has already been disposed of (V. 96, p. 1511).
CENTER, Henry County, Ohio.—BOND OFFERING.—
Proposals will be received until Aug. 16 by R. A. Beilharz, Village
Clerk, for $7,500 5%«coup. sewer bonds.
Auth. Sees. 3871 to 3881 Gen.
Code.
Denom. $1,500.
Date Sept. 1 1913.
Int. M. and S. at office
of Vil. Treas.
Due yrly. on Sept. 1, from 1914 to 1918 incl.
Cert, check
for 3% of bid, payable to S. A. Orozier, Vil. Treas., required.
Bonded debt
Aug. 6 1913 (not incl. this issue) $2,100; assess, val. $413,810.
JACKSON SCHOOL TOWNSHIP (P. O. Connersville), Fayette
County, Ind.—BOND OFFERING.—Further details are at hand relative
offering on Aug. 16 of the $3,720 5% coupon school bonds (V. 97,
p. 313.)
Proposals for these bonds will be received until 2 p. m. on that
day by F. L. Myer, Twp. Trustee.
Denom. $310.
Date Aug. 15 1913.
Int. J. & D.
Due $310 each six months from June 15 1914 to Dec. 15 1919
the $23,500
to the
inclusive.
>
,
JACKSONVILLE, Cherokee County, Tex.—BONDS REGISTERED.
of $25,000 sewer-ext. and $10,000 water-works 5%
10-40-yr.
(opt.) bonds were registered on July 10 by the State Comptroller.
—Issues
LIBERTY
LIVERMORE SCHOOL DISTRICT
LOGAN,
Hocking
County,
will be received until 12 m.
Humboldt
sale was made on July 14 of
(P. O. Livermore),
County, Iowa.—BONDS NOT SOLD.—No
bonds offered on that day.
Ohio.—BOND
OFFERING.—Proposals
Aug. 26 by C. A. Rochester, ^Village Clerk, for
Walnut St. improvement bonds.
Auth. Sec.
$900.
Date Aug. 25 1913.
Int. ann.
Certi¬
bid for, payable to Village Treasurer, required.
paid for within 5 days from time of award.
accrued interest.
$9,000 5% 1-10-year (ser.)
3939, Gen. Code.
Denom.
fied check for 10% of bonds
Bonds to be delivered and
Purchaser to pay
-
JEFFERSON COUNTY (P. O. Fairfield), Iowbl.—PRICE PAID FOR
Treasurer advises us that the price paid for the
$18,000 Sheriff's residence and jail 5% bonds sold during June and July to
BONDS.—The County
local
parties (V. 97,
p.
253)
was par
and interest.
JEFFERSON COUNTY (P. O. Fayette), Miss.—BOND ELECTION
PROPOSED.—According to reports, an election will be held in the near
question of issuing $50,000 road bonds.
future to vote on the
JEFFERSON COUNTY (P. O. Steubenville), Ohio.—BOND OFFER¬
ING.—Proposals will be received until 11 a. m. Aug. 30 by the Road Com¬
missioners for $120,000 5% coup. Iroridale & Yellow Creek Free Turnpike
road bonds.
Denom. $500.
Date Sept. 1 1913.
Int. A. & O. at office of
County Treasurer.
Due $500 on Oct. 1 1914; $1,000 on April 1 1915;
$1,500 each six months from Oct. 1 1915 to Oct. 1 1920 incl.; $2,000 each six
April 1 1921 to Oct. 1 1925 incl.; $2,500 each six months from
months from
1926 to Oct. 1 1930 incl.; $3,000 each six months from April 1
1931 to Oct. 1 1933 incl.; $3,500 each six months from April 1 1934 to
Oct. 1 1935 incl. and $4,000 each six months from April 1 1936 to Oct. 1
1938 incl.
Certified check for 5% of bonds bid for, payable to Road Com¬
missioners, required.
Bonds to be delivered and paid for on or before
April
1
Sept. 8 1913.
A similar issue of bonds was offered without
on Aug. 2
(V. 97, p. 131).
Horgeman
JETMORE,
city will sell at private
County,
4 J^s
success as
•
10-20-year
(opt.) water and
light bonds authorized by vote of 84 to 55 at the election held June 7
(V. 96,
p,
1786).
Denom. $500.
Date July 1 1913.
Int. J. & J.
JOPLIN, Jasper County, Mo .—BOND ELECTION.—A special election
will be held Aug. 26, it is stated, to vote on the question of issuing $175,000
.
bonds for
"
a
park and boulevard system.
■
.
stated,
sewer
and
at a recent election by a vote
LOS ANGELES, Cal.—BONDS
OFFERED OVER COUNTER.—Accord¬
ing to Los Angeles newspapers, subscription lists were opened last Wednes¬
day (Aug. 6) for $1,500,000 4J^% harbor development bonds in denomina¬
tions of $50, $100, $200. $250, $500 and $1,000 each.
The bonds are
part of an
issue of $2,500,000 voted in April.
"
LOUDONVILLE, Ashland County. Ohio.—BONDS NOT SOLD.—
received for the $8,000 5% municipal water-works and elec¬
tric-light-plant-imp t. bonds offered on Aug. 4 (V. 97, p. 131).
>
.
No bids were
LOVELAND, Clermont County, Ohio,—BOND SALE.—On Aug. 4
$3,000 4% 6-year flood-emergency bonds offered without success on
the
July 22 (V. 97, p. 313) were
land for $3,025 (100.833) and
awarded to the Milford Nat. Bank of Loveint.
Denom. $500.
.
Kans.—BOND OFFERING.—This
sale the $10,000 5%
Angeles County, Cal.—BONDS VOTED.—Issues
$35,000 incinerator bonds were authorized, it is
of 2,614 to 388 and 2,536 to 424,
respectively.
.
■
.
.
LORAIN, Lorain County, Ohio.—BONDS NOT SOLD—No bids were
received for the $23,663 94 5% 5M-year (aver.) coup, paving refunding
bonds offered on Aug. 4 (V. 97, p. 131).
LONG BEACH, Los
of $340,000
•
BONDS DEFEATED.—The election held July 22 resulted In the defeat
of the
LOVILIA INDEPENDENT SCHOOL DISTRICT (P. O. Lovilia),
Monroe County, Iowa.—BOND SALE.—The Secretary of the Board of
Education advises us that the $3,000 bldg. bonds recently voted (V. 97,
p.
1719) have been sold to
the Albia State Bank of Albia.
LOWELL, Mass.—BOND SALE.—On Aug. 8 the $75,000 4H% waterbonds (V. 97, P- 313) were awarded to Curtis & Sanger of Boston at 102.42.
LOWER
MERION
TOWNSHIP
(P. O.
Ardmore),
Montgomery
County, Pa.—BOND SALE.—Townsend, Whelen & Co. of Philadelphia
awarded at par and int. the $20,000 4)4 % 30-year play-ground bonds
proposition to issue $75,000 light-plant bonds (V. 97, p. 191).
The
vote is reported as 2,187 "for" to 1,323 "against," a two-thirds majority
being required.
were
KANOPOLIS, Ellsworth County, Kan.—BOND OFFERING —ProT
posalswill be received by A. Fintel, Mayor, for $30,000 5% 10-30-yr. (opt.
coup, water-works and electric-light bonds.
Denom. $1,000.
Int. J. & J.
at fiscal agency of Kansas.
Bonded debt Aug. 4 1913 (not incl. this issue),
$10,000; no floating debt; assess, val. 1913, $367,000.
LUCAS COUNTY (P. O. Toledo). Ohio.—BOND OFFERING.—Pro¬
posals will be received until 10 a. m. Aug. 29 by C. J. Sanzenbacher, Co.
Aud., for $12,500 5% Children's Home impt. bonds.
Auth. Sees. 2434
and 2435, Gen. Code.
Denom. (12) $1,000, (1) $500.
Date Sept. 9
1913.
Int. M. & S. at office of County Treas.
Due $500 in 2 years and
$1,000 yearly thereafter.
Cert, check or cash on a Toledo bank for $500
required.
Bids must be unconditional. Bonds to be delivered on Sept. 9.
KANSAS CITY, Kan.—BOND OFFERING.—The City Commrs.
offering for sale $7,000 5% street-opening bonds, reports state.
KANSAS
CITY SCHOOL
DISTRICT
(P. O.
are
Kansas City), Mo.—
BONDS AWARDED IN PART.—On July 29 $500,000 of the two issues of
4H%
were
20-vear gold coup, bonds, aggregating $2,000,000 (V. 97, p. 253),
purchased, it is stated, by the Commerce Trust Co. of Kansas City.
The above bonds are now
being offered to investors by N. W. Halsey &
Co. of Chicago.
KENTON,
Hardin
County,
will be received until 12 m.
Ohio.—BOND
OFFERING.—Proposals
Aug. 22 by Will F. Ault, City Auditor, for the
following 5% coupon bonds:
$6,800 Brumm, Henry and Carrol streets paving
Denom. $680.
6,800
6,800
16,500
2,200
Kohler St. paving bonds.
Denom. $680.
Henry St. paving bonds.
Denom. $680.
Carrol St. paving bonds.
Denom. $650.
Brumm St. paving bonds.
Denom. $220.
(city's portion) bonds.
(V. 97, p. 131).
above company
Denom. $1,000.
Date July 1 1913.
Int. J. & J.
The
is now offering them to investors.
MADISON COUNTY (P. O. Edwardsville), 111.—DESCRIPTION OF
BONDS.—We are advised that the $250,000 4H% court-house constr.
bonds voted June 3 (V. 96, p. 1719) are in the denomination of $500 and
bear date of July 1 1914.
Int. ann.
Due $12,500 yearly on July 1 from
1915 to 1934 incl.
MADISON
COUNTY
(P.
O.
London),
Ohio.—BOND tSALE.—On
bonds (V. 97, p.
at 100.5 and int¬
Aug. 2 the $35,000 5% coup. Big Darby Creek bridge
131) were awarded to the Central Nat. Bank of London
erest.
Other bidders were:
Provident Savings Bank & Trust Co., Cincinnati
Bertram Davies Co.. Cincinnati
$35,171 50
35,142 00
MADISONVILLE, Madison County, Tex.—BOND SALE .--The City
advises us that this city has disposed of the $16,000 5% 20-40(opt.) coup, water-works bonds offered on May 1 (V. 96, p., 1172) to
the O'Neil Engineering Co. of Dallas.
Secretary
year
ATJG. 9
THE
1913.]
MAMARONECK, Westchester County, N. T
On
Aug. 4 the two issues of bonds, aggregating $20,000 (V. 97, p. 253) were,
awarded to Douglas Fenwick & Co. of NewYork at 100.055 and int.
.
to
MANITO, Mason County, 111.—BONDS VOTED.—By a vote of 138
27, the question of issuing $6,500 municipal-electric-light-plant construc¬
tion bonds carried, it is stated, at the election held July
31.
MARICOPA COUNTY SCHOOL DISTRICT NO. 11 (P. O. Phoenix),
Mont.—BONDS NOT SOLD.—No bids were received for the $20,000 5%
20-year school bonds offered on July 14 (V. 97, p. 68).
_
MARION COUNTY (P. O. Fairmont). W. Va.—BONDS NOT SOLD.—
Reports state that
no
sale
was
made of the $300,000
5% 20-30-year, (opt.)
couj?, Mannington District road-impt. bonds offered on Aug. 2 (V. 97, p.
MASSACHUSETTS.—TEMPORARY LOANS.—Newspaper dispatches
dated Aug. 2 report that State Treasurer Stevens has borrowed $1,000,000
in anticipation of revenue.
Loan is due $500,000 Oct. 20 and $500,000
Oct. 21.
The total amount borrowed this year to date is $4,000,000.
MEADVILLE, Crawford County, Pa.—BOND SALE.—On Aug. 1
15-30-year (opt.) street-paving bonds were awarded to local
investors at par.
Denom. $500.
Int. J. & J.
$60,000 4%
^
MEDIA SCHOOL DISTRICT (P. O. Media), Delaware County, Pa.—
BOND SALE.—On Aug. 1 the $75,000 4H % 29-year coup, tax-free school
bonds (V. 97, p. 192) were awardedto the First Nat. Bank of Media.
MELVERN, Osage County, Kan.—BONDS VOTED.—The question
of issuing $8,000 electric-light-system-impt.
at a recent election.
bonds carried, reports state,
MERCER COUNTY (P. O. Celina), Ohio.—BONDS AWARDED IN
no bids were received for the two issues of
5H% coup, free turnpike bonds aggregating $54,000, offered on Aug. 5
(V. 97, p. 254).
Subsequently the $24,000 9y%-year (aver.) Griffith Road
bonds were sold at private sale to the First National and the Commercial
•
MESICK, Wexford County, Mich.-B0ND7ELECTI0N.-The ques¬
tion of Issuing $5,000 water-works-system bonds will be voted upon at the
election to beheld Aug. 11, it is stated.
,
.MIDDLESEX
COUNTY
(P.
New
O.
Brunswick),
OFFERING.—Proposals will be received until 2:30
N.
J.—BOND
Aug. 18 by the
p. m.
Board of Chosen Freeholders, T. H. Hagerty, County Collector, for the
following
$19,500
coupon
or
registered bonds:
road-improvement bonds, Series 11.
$500.
Due $9,500
on
Denom.
(19)
$1,000,
(1)
Aug. 1 1917 and $10,000 Aug. 1 1918.
19,500 road-improvement bonds, Series 12.
Denom. (19) $1,000, (1)
$500.
Due|$2,000 yearly on Aug. 1 from 1923 to 1931, inclusive,
and $1,500 on Aug. 1 1932.
104,50P road-improvement bonds, Series 13.
$500.
Due $5,000 yearly on Aug. 1
and $4,500 on Aug. 1 1942.
Denom; (104) $1,000, (1)
from 1922 to 1941, inclusive,
Bids are requested on each separate series bearing 4H %, 4M
Date Aug. 1 1913.
exchange.
county.
York
of bonds bid for, payable, to County
Bids must be made
These bonds will be certified
& Trust Co. and their
New
% and 5%.
Int. F. & A. at office of County Collector in New
Certified check for 2%
Collector, required.
as
on
blank forms furnished by the
to genuineness by the U.S. Mtge.
legality approved by Caldwell, Masslich & Reed of
York,, whose favorable opinion will be furnished to the purchaser.
Purchaser to pay accrued interest.
Bonds to be delivered and paid for at
office of above trust company in New York at 11 a. m. Sept. 8.
The
ments
official notice of thi? bond offering will be found among the advertise¬
elsewhere in
(his
to 1925 Incl.
Cert, check for 5% of bonds bid for, payable to Vil;
required.
Bonds to be delivered and paid for within 10 days from
award.
Purchaser to pay accrued interest.
Proposals will be received until 12 m. Aug. 26 by A. H. Freed,
Clerk, for the following 6% coupon bonds:
$4,000 cemetery bonds.
Date July 15 1913. Due $500 yearly on
from 1915 to 1922, inclusive.
1,000 water-extension bonds.
Date June 1 1913.
Treas.,
time or
Village
July 15
Due JUne 1 1915.
Auth, Sec. 3939. Gen. Code.
Denom. $500.
Int. semi-annual.
Certi¬
fied check for 5% of bonds bid for, payable to Village Treasurer, required.
Bonds to be delivered and paid for within 10 days from time of award.
Purchaser
to pay
accrued interest.
,
MINNESOTA.—BOND CERTIFCIA TES OFFERED OVER COUNTER.
—Beginning Aug. 11, W. J. Smith, State Treasurer, will sell over the
counter at par $100,000 5% tax-free certificates of indebtedness in denomi¬
nations of $100 and multiple.
The securities are to provide funds for the
erection of buildings at the University and State normal schools and are
part of $700,000 authorized by the last Legislature.
They draw interest
from Aug. 15 and mature 3 years from their date.
On June 16 $65,000 of
these certificates were offered at public sale but no bids were received.
SALE OF PRISON
CERTIFICATES.—Arrangements have been made,
of the $210,000 prison
it is said, for the sale to the State Investment Board
certificates offered without success on June 16.
LEVEE
DISTRICT (P.
O. Greenville). Miss.—
PART.—Reports state that of the $500,000 5%
MISSISSIPPI
BONDS AWARDED IN
40-year coupon tax-free
levee-construction bonds (V. 97, p. 314), $61,000
purchased at 97.50 by people at GreenviUe.
SCHOOL DISTRICT (P. O. Montague), Siskiyou
County, Cel.—NO BOND ELECTION THIS YEAR.—The Clerk Board of
Ed. advised us under date of July 23 that the question of issuing the $15,000
bldg. bonds (V. 96, p. 1720) will npt be submitted to a vote this year.
have been
MONTAGUE
PART.—rReports state that
banks of Celina at par.
393
CHRONICLE
V
Department.
MILLVILLE, Cumberland County, N. J.—BONDS NOT SOLD.—No
bids were received on Aug. 1 for the $5,00Q 4H% coup, or reg. 20-year
street-improvement bonds offered oh that day (v. 97, p. 192).
MINNES OTA.—BOND BALES.—During the month of July the State
purchased at p ar the following 68 issues of 4% bonds, aggregating $572,930:
Amount.
Name of Place—
Purpose.
Date.
$3,000 Aitken County School District No. 50School
July 1 1913
2,000 Anoka County School District No. 54-School
July 1 1913
1,500 Beltrami County School District No. 79
School
July 1 1913
1,000 Benton County School District No. 9
School
July 1 1913
4,000 Big Stone County Ind. Sch. Dist. No. 11—School
July 22 1913
4,000 Blue Earth County Ind. Sch. Dist. No. 112-School
July 1 1913
16,000 Brown County Ind. Sch. Dist. No. 1—
School
July 1 1913
1,200 Chengwatana, Pine County--Municipal July 1 1913
10,000 Cottonwood County School District No. 74-School
July 11913
1,800 Douglas Coupty School District No. 50
School
July 11913
2,000 Echo, Yellow Medicine County
-School
July 11913
2,000 Faribault County Ind. Sch. Dist. No. 1
School
July 1 1913
7.OO0 Faribault County Ind. Sch. Dist. No. 7---School
July 1 1913
1,200 Faribault County Ind. Sch. Dist. No. 64—School
July 1 1913
2,000 Faribault County Ind. Sch. Dist. No. 132_Sch0ol
July 11913
32,000 Faribault County Jud. Ditch Dist. No. 2—Ditch
July 22 1913
2,500 Goodhue County Ind. Sch. Dist. No. 5
School
July 1 1913
4,000 Grinstad, Roseau County——Municipal July 1 1913
12,000 Hennepin County Ind. Sch. Dist..No. 21--School
July 1 1913
15,000 Jackson, Jackson CountyMunicipal "July 1 1913
6,000 Kandiyohi County School District No. 46-School
July 1 1913
21,000 Koochiching County School District No. 4-8chool
July 12 1913
5,000 Lac Qui Parle County Sch. Dist. No. 86—School
.July 11913
12,000 Lake Benton, Lincoln County
Municipal July 1 1913
15,000 Lake City, Wabasha County
Municipal July 1 1913
5,000 Lind, Cass County
Municipal July 11913
25,000 Little Falls, Morrison County
School
July 17 1913
2,000 McLeod County Ind. Sch. Dist. No. 66
School
July 1 1913
3,500 McLeod County Ind. Sch. Dist. No. 70
School
July 1 1913
2,800 McLeod County School District No. 22
School
July 1 1913
10,500 Maple Lake, Wright County-——Municipal July 1 1913
1,200 Marshall County School District No. 118—School
July 1 1913
400 Marshall County School District No. 146--School
July 11913
21,000 Mahnomen County Ind. Sch. Dist. No. 1--School
July 1 1913
3,000 Mahnomen County Ind. Sch. Dist. No. 17-School
July 1 1913
6.000 Mille Lacs County Cons. S. D. No. 17
School
July 1 1913
3,000 Morgan, Redwood County
-Municipal July 11913
7,000 Morrison County Ind. Sch. Dist. No. 40—School
July 22 1913
1,400 Morrison County Ind. Sch. Dist. No. 80-—School
July 11913
14,000 Murray County Ditch No. 27———Ditch
July 11913
2,000 NicoUet County School District No, 37—School
*
July 1 1913
8,000 North St. Paul, Ramsey County.-Municipal July 22 1913
1.100 Pennington County School District Np. 48-School
July 1 1913
5.000 Pierz, Morrison County.
-.Municipal July 1 1913
250 Pine County School District No. 32——School
July 1 1913
2,000 Polk County School District No. 69
School
July 1 1913
10,000 Med Wing, Goodhue County.
--Municipal July 1 1913
12,000 Redwood County School District No. 74—School
July 1 1913
2,500 Renville County Ind. Sch. Dist. No. 33
School
July 1 1913
10,000 Rice County School District No. 6
School
July 1 1913
8,000 Rice & Goodhue Counties School District
School
July 1 1913
11,200 Rock County Judicial Ditch No. 2
Ditch
July 1 1913
6,500 Rock County School District No. 65
School
July 1 1913
8,000 Roseau County Ind. Sch. Dist. No. 121 —-School
July 14 1913
65,000 St. Louis County Ind. Sch. Dist. No. 13—-School
July 14 1913
2,000 St. Louis County School District No. 11—-School
July
1 1913
5,000 St. Louis County School District No. 42---School
July 1 1913
15,000 St. Louis Park, Hennepin County.—
School
July 1 1913
5,000 Skane, Kittson County
Municipal July 1 1913
50,000 South St. Paul, Dakota County
School
July 22 1913
800 Spencer, Aitkin County
Municipal July 1 1913
14,000 Swift County Ind. Sch. Dist. No. 2.
School
July 1 1913
20,000 Wabasha County Ind. Sch. Dist. No. 4.—School
July 1 1913
280 Wadena County School District No. 32—.School
July 14 1913
700 Wadena County School District No. 10—-School
July 1 1913
3.000 Wanda, Redwood County
—-Municipal July 1 1913
16,000 Wharton, Traverse County—.
-Municipal-July 1 1913
600 Yellow Medicine County S. D. No. 82
School
July 1 1913
.
—-
MOREHEAD TOWNSHIP (P. O. Morehead City), Carteret County
No. Car.—BOND ELECTION.—Reports state that an election will be held
the question of issuing the $10,000 school bonds
Aug. 12 to submit to a vote
(V. 96. p.
1720).
MORGAN PARK HIGH SCHOOL DISTRICT (P. O. Morgan Park),
Cook County, 111.—BOND SALE.—The $45,000 5% high-school-bldg.
bonds voted July 26 (V. 97, p. 314) have been purchased by the Mer¬
chants' Loan & Trust Co. of Chicago, reports state.
Date Aug. 1 1913.
Due serially from 1918 to 1932 incl.
MORROW COUNTY (P. O. Mt. Gilead). Ohio.—BONDS NOT SOLD.
No bids were received for the two issues of 5% coup. Noble Road impt.
bonds, aggregating $5,210, offered on July 25 (V. 97, p. 132).
BOND SALE.—The $35,100 5% 5-year (aver.) coup. Cox
Joint County
(V. 97, p. 68) were awarded
Weil, Roth & Co. of Cincinnati
road bonds offered without success on July 18
at
private sale op July 26, it is stated, to
at par.
MT. AYR,
of issuing the
Ringgold County, Iowa.—BONDS VOTED.—The question
$45,000 water-works bonds (V.97. p. 192) carried,,reports
state, at the election held
July 24.
MT. BIDWELL SCHOOL DISTRICT, Modoc County, Cel.—BOND
of July 28 that the
$10,000 6% school bonds offered on July 2 have been sold to D. P. Browne
at 100.85—a basis of about 5.82%.
Denom. $1,000.
Int. ann. on June 1
Due $1,000 yearly from 1 to 10 years incl.
This item was inadvertently
reported unaer the head of BidweH Sch. Dist. in V. 97, p. 189.
SALE.—The County Treasurer advises us under date
MOUNT KISCO, Westchester County, N. Y.—BOND OFFERING.—
Proposals will be received until 8 p. m. Aug. 19. reports state, by G. B.
Cranston, Village Clerk, for $13,200 5-29-year (serial) sewer bonds.
MULLINS, Marion County, So. Caro.—BONDS VOTED.—The ques¬
carried, reports state, at the elec¬
tion of issuing seweragei and water bonds
tion held July 28 by a vote of 71 to 13.
NELSON TOWNSHIP SCHOOL DISTRICT (P. O. Garrettsville
R. F. D. No. 25), Portage County, Ohio.—BOND SALE.—On Aug. 5
$25,000 5% 14-year* (average) building bonds, offered on Aug. 1
(V. 97, p. 132), were awarded, it is stated* to the First National Bank
of Garrettsville at par and interest.
the
NEWTON COUNTY (P. O.
No sale was made on Aug.
that day (V. 97, p. 314).
Kentland), Ind.—BONDS NOT SOLD:—
% road bonds offered on
5 of the $2,048
NEW YORK CITY.—BOND SALE.—The Sinking Fund of this city
during July purchased at par $500,000 3% bonds for various municipal
purposes and $5,000,000 general fund .3% bonds maturing 1922 and 1930,
respectively.
The following short-term securities (revenue bonds, bills and corporate
stock notes) were issued during July:
•
•
Rev. Bills *13 (Con.) Int.
Amount.
Amount.
$439,000 00 Current expense..i_*45^ a$2,753,046 68
.*4%
x5,380,033 23
1,250,000 00 Current expense
10,000 00 Current expense.
.*4%
xl,412,333 11
Current expense
_*4 %
x717,709 12
4)4
400,000 00 Current expense
Current expense
al ,041,738 01
Corp. Stock "Notes.
.
4%
Current expense
1,500,000 00
4% al,708,380 98 Var. mun. purposes. 3
Special....
738,515 41
150,000 00 Var. mun. purposes.*4U
4)4
Special
i 3
a663,442 98
300,000 00 Var. mun. purposes.*4Ji
Rev. BtUs 1913—
Var. mun. purposes.*4X718.121 62
Current expense..*4 13-16
3
2,000,000 00
492,880 14 Water
Current expense
*4 %
*4H
al,232,768 54
1,572,580 13 Water.......
Current expense..*4 11-16
^-*4%
x479,395 04
294,689 66 Water
Current expense... .*4%
...*4^
x956,750 40
al89,029 10 Rapid transit
Rev. Bonds 1913.
Current
Int.
expense—
*
4%
Current
expense—.4 9-16
Current expense—.. 4^
,
....
Total
———
-
——-
$26,400,414 15
.
•
.
—
—
*
Rate of discount; figures in "Amount" .column represent proceeds of
loan after deducting discount,
a Payable in francs,
x Payable in, (£>
sterling.
NORTH DAKOTA.—BOND SALES.—During the month of July the
following 11 issues of 4% bonds, aggregating $128,741 10, were purchased
by the State at par:
Name—
"
Amount.
Due.,
Purpose.
Date.
Cranberry Valley S.D_$5,000 00
Building
June 20 1913 June 20 1933
FargO
July
1 1933
—-...-57,341 10
Funding
July
1 1913
Gladstone Sch. Dist— 4,000 00
Building
May 31 1913 May 31 1933
Huron Sch. Dist
June 20 1933
6,000 00
Building
June 20 1913
Illinois Sch. Dist—.
3,600 00
Building
May 31 1913
May 31 1923
Lund Sch. Dist..
June 20 1933
1,000 00
Building
June 20 1913
Nov. 12 1932
Minnewaukan S. D
2,000 00
Building
Nov. 12 1912
Moore Sch. Dist-"—— 2,400 00
May 31 1933
Building
May 31 1913
School District No. 20 1,200 00
Building
June 20 1913 June 20 1933
f
$15,000
Valley City.
45,000 00
Sewer
April 15 1913 {April 15 1923
11928 & 1933
WalllsSch. Dist...—_ 1,200 00
May 15 1933
May 15 1913
Fund
—
.....
NORTHFIELD, Atlantic County, N. 3.—BONDS NOT SOLD.—No
1-18-year (ser.) coup,
bids
were received on
Aug. 4 for the $17,300 5%
school bonds offered on that day (V. 97, p. 314).
NUECES COUNTY (P. O. Corpus
-
—
,
MINERVA,
Stark' County,
-
—
Ohio.—BOND OFFERING.—Proposals
Sept. 2 by A. H. Freed, Vil. Clerk, for $4,000 6%
coupon refunding bonds.
Auth. Sec. 3916 Gen. Code.
Denom. $500.
Date Aug. 1 1913.
Int. F. & A.
Due»$500 yearly on Aug. 1 from 19i8
will be received until 12
m.
Christi), Tex.—BOND ELECTION.
—The election to vote
-
(opt.)
Sept. 2.
year
on the question of issuing the $165,000 5% 10-40causeway-construction bonds (V. 96, p. 1720) will be held
RESULT OF BOND ELECTION.—We learn that the question of issuing
OAKLAND, Cal.—VOTE.-—We are advised that the vote cast at the
held July 22 on the
propositions to Issue the following bonds
(V. 97, p. 314) at not exceeding 5H % int. was as follows:
Amount.
Purpose.
For.
Against.
$873,684 66 Grammar school improvement
-—-.10,515
3,291
495,719 71 High-school improvement......—10,217
3,531
796,000 00 City-hall construction
...
9,568
4,204
431,595 63 Auditorium completion
—
9,711
3,996
343,000 00 Water-front Improvements
—
9,834
3,728
election
,
OAKLAND COLONY SCHOOL DISTRICT,
Tujare County, Cal.
—BOND SALE.—On July 25 the $4,500 7% bldg. bonds were
is stated, to the First Nat. Bank of Visalia at par and int,
OAKWOOD
SCHOOL
awarded, it
(P. O. Oakwood), Vermillion
County, 111.—BONDS NOT SOLD.—No sale was made on July 30 of the
DISTRICT
THE
394
$9,000 5% 7-year (aver.) site-purchase and Construction
that day (V. 97. p. 254).
OGDEN,
Weber
County,
Utah.—BONDS
VOTED.—According to
OGDENSBURG, St. Lawrence County, N, Y.—NOTE OFFERING.—
Proposals will be received until 2 p. m. Aug. 15 by J. F. Akin, City Treas¬
urer, for $4,834 39 assessment notes at not exceeding 5% int.
Denom.
$966 88.
Date Aug. 15 1913.
Due $966 88 yearly on Nov. 1 from 1913
_
•
V
,
atjhand relative to theoffering on Aug. 18 of the $56,000
4)4 % improvement bonds (V. 97, p. 314).
Proposals for these bonds will
that day by J. F. Akin, City Treasurer. Denom.
(36) $500, and (38) $1,000. Date Aug. 11913.
Int. M. & S. at Treasurer's
office in N. Y. exchange.
Due $3,000 yearly Aug. 11914 to 1931, inclusive,
and $2,000 Aug. 1 1932.
Certified check on a national bank or trust com¬
pany for 2% or bonds bid for. required.
;
be received until 2 p. m. on
OKLAHOMA.—B02VD OFFERING".—Reports state that Robert Dumlop, State Treas., will offer for sale Oct.l an issue of 2,907,122.19 4)4%
funding bonds, (see "News Item" on a preceding page)!
OLIVET
SCHOOL DISTRICT,
Sonoma Qaunty,
Cal.—BOND
ELECTION.—The question Of issuing $3,000 site-purchase and building
bonds will be submitted to a vote on Aug. 16, reports state.
ORANGEBURG,
So. C&to.—BONDS NOT
SOLD,—No sale has been made of the $60,000 4M % 20-40-yr. (opt.) coupon
water-works and electric-light-plant -constr. bonds offered on July 16 (V. 96,
p. 1856).
We are advised that a proposition is now before the City Council
to raise the interest rate to 5%.
Orangeburg
County,
xcvn.
POMIROY, Calhoun County, Iowa.—BONDS VOTED.—The
bonds offered on
reports, the question of issuing the $75,000 5% So. Fork reservoir-construc¬
tion bonds (V. 97, p. 254) carried at the election held July 28 by a vote
of 204 to 61.
to 1917, inclusive..
Further details are
[Vol.
CHRONICLE
ques¬
tion of issuing the $15,000 elec.-light-plant-constr. bonds (V. 97, p. 69),
carried, it is stated, at the election held July 15 by a vote of 129 to 9.
PORTSMOUTH, Ohio.—BOND SALE.—It is stated that the $42,000
Kendall Ave. subway, $70,000 water-ext. and $7,000 of the $17,000 street
5% coup, bonds offered without success on July 22 (V. 97, p. 254) have been
sold at private sale to the First National Bank, Security Savings Bank
and Central National Bank of Portsmouth at par.
POSEY COUNTY XP. O. Mt. Vernon), Ind.—BONDS AWARDED
PART.—Reports state that of the five Issues of 4)4 % highway-impt.
bonds, aggregating $21,400, offered on Aug. 5 (V. 97, p. 314), the $7,600
Bethel Twp. bonds were awarded to the Bozeman-Waters National Bank
IN
of
and the $6,700 Black Twp. bonds
Poseyyille at par
H.
T-
Raben at par..
were awarded to
/;
PRAIRIE TOWNSHIP (P. O. Etna Green), Kosciusko County,
Ind.—BOND SALE.—On July 15 the $11,000 4H% 4.32-year (ay.) sitepurchase and construc|bion bonds (V. 97, p. 69) were awarded to the Etna
Bank of Etna Green.
PRATT, Pratt County, Kan .—BOND ELECTION PROPOSED.—
According to reports, a petition is being circulated calling for an election
to vote on the question or issuing $50,000 municipal-light bonds.
PRATT SCHOOL DISTRICT (P. O. Pratt), Pratt County, Kan —
BONDS VOTED.—A favorable vote Was cast at the election held July 29
on.the proposition to issue the $35,000 bldg. bonds (Y. 97, p. 133).
PUTNAM COUNTY (P. O. Ottawa), Ohio.—BONDS NOT SOLD.—No
bids were received on Aug. 4 for the $30,00® 5% IJ^-yr. (aver.) J. W.'Butler
joint county-ditch-impt. bonds offered on that day (V. 97, p. 254.)
,
OVID. Clinton County, Mich.—BOND SALE.—On Aug. 1 $6,000 6%
electric-light-plant-repair bonds were awarded to the State Savings Bank
of Ovid at par.
Denom. $1,000.
Date Aug. 1 1913.
Int. F. & A.
Due
$1,000 yrly. Aug. 1 from 1914 to 1919 incl.
PAYSON
CITY, Utah County. Utah.—BOND SALE.—The $20,000
20-yr., $13,000 15-yr. and $10,000 10-yr. 5)4% water-works-constr. bonds
offered on May 23 (V. 96, p. 1317) were awarded to the Wheelwright
Constr. Co. of Ogden at par.
Assess, val. 1912 $461,539.
PHILIPSBURG, Granite County, Mont.—BOND OFFERING.—
Proposals (sealed or verbal) will be received until 8 p. m. Aug. 25 by W.
New, City Clerk, for $15,000 6% 5-20-yr. (opt.) coupon sewer Dist. No. 1
bonds.
Denom. $1,000.
Int. semi-ann. Cert, check for 5% of bonds bid
for, payable to City Treas., required.
PITTSFORD SCHOOL DISTRICT
-
■
,
(P. O. Pittsford), Hillsdale
County, Mich.—BOND SALE.—On July 1 this district sold to various
individuals at par $6,500 4M % bldg. bonds.
Denom. (6) $1,000, (1) $500.
Date July 1 1913.
Int. ann. on Feb. 1.
Due part yrly. on Feb. 1.
PLAIN VIEW, Hale" County, Tex.—BOND SALE.—On July 29 the
$12,000 street-improvement and $10,000 sewer and water-extension 5
20-40-year (opt.) coupon bonds, offered without success on July 1 (V. 9
p." 133) were awarded to a local party at 95 and interest.
POLE COUNTY (P. O. Benton), Tenn.—BOND OFFERING.—Pro¬
Box 146, for ,$250,000 5-30-year (ser.) pike road bonds.
Ceritfied" check
^ 1-
Department.
;
,
.
RACINE, Racine County, Wis.—BIDS REJECTED .—The following
on Aug. 5 for the $95,000 4)4 % lla3-yr.
(av.), school bldg.
bonds offered on that day (V. 97, p. 254), were rejected:
Harris Tr. & Sav. Bank, Chicago, par and int. less $1,650 for attorney's
fees, etc.
■
■
N. W. Halsey & Co., Chicago, par and int.
all bids received for the $30,000 4%
97, p. 315) were rejected.
RIVER
RED
COUNTY
(P.
O.
Clarksville),
p.
69)
was
defeated at the election held July 12.
NEW LOAMS.
84,000
Town of Malta,.Montana,
sewer system bonds.
Notice is hereby given that the Town of Malta,
Valley County, State of Montana, wHl offer for
proposals will be received by the Board of Chosen Freeholders of the County of Middlesex
undersigned, at his office in the City of New Brunswick, N. J., at two-thirty o'clock p. m.
MONDAY, AUGUST 18, 1913, for the purchase of the following described bonds of Middlesex
County, New Jersey:—
v''-'
$19,500 Road Improvement Bonds, Series 11, dated August 1, 1913, maturing $9,500
August I, 1917, and $10,000 on August 1, 1918.
Series 12, dated August 1, 1913, maturing
August 1 of each of the years 1923 to 1931, both inclusive, and
on August 1, 1932.
$104,i500 Road Improvement Bonds, Series 13, dated August 1, 1913, maturing
on August 1 of each of the years 1922 to
1941, both inclusive, and
on
$19,500 Road Improvement Bonds,
on
$2,000
$1,500 V:
"
$5,000
$4,500
on August 1, 1942.
*
'A;
.
All of said bonds are of the denomination of $1,000 (except that one bond' of each series is of
the denomination of $500), and are coupon in form, with the privilege of registration, principal and
semi-annual interest payable at the office of the County Collector in the City of New Brunswick,
N. Jm or in the event of registration to be remitted in New York exchange, at holder's request.
.
.
.
m
The bonds will be delivered to the successful bidder
& Trust
Company in the City of New York
at the office of the United States Mortgage
the 8th day of September, 1913, at 11 o'clock in the
on
All bids for said bonds must be made upon forms furnished bv the County, and must be accom¬
panied by certified" check, payable to the order of Thomas H. Hagerty, County Collector, for.two
£er
cent ofdamages
the. par in
value
the of
bonds
bidoffor
as securitybidder
for the
of such bid and as
quidated
the of
event
failure
a successful
to performance
accept and pay for the same.
Bids are requested on each series separately for bonds bearing interest at the rate of four and
one-half, four and three-quarters or five per cent.
But the bonds of each series will be awarded
at the lowest rate at which bids for the whole of such series are received.
*
No bid will be received for less than
par and interest, and the right is reserved to reject any
and all bids.'
*
Said bonds will be engraved under the supervision of, and certified as to their genuineness by,
United States
Mortgage & Trust Company or the City of New York, and their legality approved
by CaldweU, Masslich & Reed of New Ycrk City, whose opinion as to legality will be furnished to
the purchaser.
By order of the Board of Chosen Freeholders of Middlesex County, N. >J.
THOMAS H.
\
sale at the office of the Town Clerk, in the Town
Montana, on SATURDAY, THE.
OF SEPTEMBER,
1913, at the
p'clock p. m., its issue, of sewer-system
bonds,
amounting to four thousand ($4,000)
dollars of the. par value of one thousand ($1,000)
dollars each, said bonds bearing interest at not to
exceed six
(6) per cent per annum, payable
semi-annually on the 1st day of January and the
1st day of July of each year, the said bonds to
bear date of January 1st, 1914, due twenty (20)
rears after date, and redeemable at the option
of
Malta,
6TH
DAV
hour of 2
of the said Town at any
time after fifteen (15)
from the date Of issue.
Principal and in¬
payable in lawful money of the United States
at the office of the Town Treasurer of said Town,
or, at the option of the holder, at the banking
house of the Hanover National Bank in the City
and State of New York.
The money received
from the sale of said bonds to be used for the
construction of a main sewer and septic tank for
eewer purposes in said Town.
The bias to be accompanied by a certified
check in the sum of five hundred ($500) dollars,
payable to the Town Treasurer of the said Town
of Malta, as a guaranty that the bidder will take
and pay for said bonds as soon as the same are
signed and ready for delivery;
No bid can be
received for less than par and accrued interest.
The Town Council reserves the right to reject
any or all bids.
By order of the Town Council.
Dated Malta, Montana, July 23, 1913.
years
terest
H.
M.
KIRTON,
HAGERTY,,
•
.
Town Clerk.
County Collector.
.
:
1
RIVERSIDE TOWNSHIP (P. O. Riverside), Burlington County,
J.—BOND OFFERING.—Proposals will be received until 8:30 p. m
N.
IMPROVEMENT BONDS
forenoon.
Tex.—BONDS DE¬
FEATED.—The question of issuing the $200,000 5% 40-year road bonds
on
v.;"';
/
impt. bonds (V. 97, p. 315) were awarded to the Dickinson Tr. Co. of Rich¬
mond at par and int.
There were no other bidders.
MIDDLESEX COUNTY, N. J.,
and the
;
court-house-
RANDOLPH COUNTY (P. O. Winchester), Ind.—BOND SALE.—
$143,500
Sealed
coup,
On Aug. 4 the $5,000 4)4 % 5M-yr. (aver.) Ernest Cox County-line-road-
MEW LOAMS.
ROAD
less $1,655.50.
RACINE COUNTY (P. O. Racine), Wis.—BIDS REJECTED.—Local
papers state that
constr. bonds (V.
The official notice of this bond offering will be found among the advertise¬
ments elsewhere in this
Tex.—RESULT OF BOND ELEC¬
bids received
(V. 97,
T. O. Pack is Clerk of the Commission.
County,
RACCOON SCHOOL TOWNSHIP (P. O. Bridgeton), Parke County,
Ind.—WARRANT SALE.—On Aug. 2 the $1,800 5% school warrants
(V. 97; p. 133) were awarded to W. R. Stokes of Bellmore for $1,810,
equal to 100.555
posals will be received until 12 m. Aug. 30 by the Pike Commission, Lock
for $2,500 required.
Hardeman
QUANAH,
TION.—The election held July 28 resulted, it is stated, in favor of the
question of issuing the $20,000 water-Works-extension bonds and in the
defeat of the proposition to issue the $16,000 sewer bonds.
The vote was
124 "for" to 54
against," and 88 "for" to 91 "against," respectively,
FINANCIAL STATEMENT.
Assessed valuation real estate
Assessed valuation personal property-—
.Bonded Debt, not including these issues-----Population, Census 1910--
;
-
.w.-..
.
V-.W":
-$50,368,935
13,712,030
895,700
...114.426
'»
AMERICAN
MFG.
CO.
MANILA, SISAL AND JUTE
Mellon National Bank
PITTSBURGH, PA.
l
8-26
jEl
on
is
Sala* Office:
Noble & West Sts.,
■
3%
CORDAGE
Brooklyn, N. Y.
RESERVE ACCOUNTS
paid by this bank
GEO.
Correspondence it, invited
B.
EDWARDS
BROKER
Tribune Building, NEW YORK, N.
CAPITAL,
-
-
$6,000,000
Y.
FOR SALE.—Timber, Coal, Iron, Ranch and
other properties.
Confidential
Negotiations,
Investigations,
Settlements, Purchases of Property
Auo. 9 1913 .J
CHRONICLE
THE
SAN RAFAEL,
Aug. 11, it is stated, by J. T. Neal, Twp. Treas., for $50,000 10-year
street-improvement and $10,000 30-year sewer bonds.
Marin County, Cal.—BOND ELECTION.—An election
will be held Aug, 11 to submit to a vote the question of issuing $100,000 st.-
$40,000 municipal-bathing park, $25,000 incinerator, $25,000
dredging canal and $25,000 sb.-impt. plant and rock-crusher bonds (V. 96,
p. 1721) at not exceeding 5% int.
Due l-40th yearly,
impt..
_ROCKY HILL SCHOOL DISTRICT, Tulare County, Cal.—BONDS
NOT SOLD.—No bids were received, it is stated, for the $4,000
bonds offered on July 25.
V
•
•
••
395
7% bldg.
SAN MATEO,
San Mateo
County, Cal.—BOND ELECTION
PRO¬
ROSEAU COUNTY (P. O. Roseau), Minn.—BOND OFFERING.—
Proposals will be received until 4 p. m. Aug. 12 by S. G. Bertilrud, Oo.
Aud., for $25,000 20-yr. court-house bonds at not exceeding 6% int.
Denom. $1,000.
Date Aug. 1 1913.
Int. P. & A.
POSED.—It is stated that this city is considering holding an election some
time in August to vote on the question of issuing from. $74,000 to $98,000
bonds for improvements.
ROSEBUD COUNTY (P. O. Forsyth). Mont.—BOND OFFERING.—
Proposalswill be received until Oct. 6. it is stated, for $123,000 road and
bridge refunding bonds.
A like amount of bonds was offered on March 4.
(V. 96, p. 814.)
SANTA PAULO UNION HIGH SCHOOL DISTRICT (P. O. Santa
Paulo), Ventura County, Cal.—BOND SALE.—We are advised that the.
First Nat. Bank of Santa Paulo purchased the $72,000 5% building bonds
voted May 31 (V. 96, p. 1789).
ROUNDHEAD TOWNSHIP SCHOOL DISTRICT (P. O. Roundhead), Hardin County, Ohio.—BOND OFFERING.—'Proposals will be
state that the
.
SILVER LAKE, Lake County, Ore.-BONDS AUTHORIZED.--Reports
City Council on July 9 authorized the issuance of $2,500
6% 5-year water-system bonds.
^
received until Aug. 15 by J. W. Osborne, Clerk Bd. of Ed., for $3,000 5)4 %
school
bonds.
Auth.
Sec.
5656, Gen. Code.
Denom. $1,000.
int.
amraaHy.
Due $1,000
offered without success
on
on
Mar. 11917.1918 and 1919.
July 18 as 5s.
These bonds
SOUTH ST. PAUL, Dakota County, Minn.—BOND BALE—News¬
reports state that the Dovers' State Bank of South St. Paul has
were
paper
agreed to take an issue of
issuing the $29,000 5% 20-40-year (opt.) building bonds (V. 96, p. 1856)
carried at the election held July 17 by a vote of 100 to 37 »
^
RUTHERFORD
COUNTY
(P.
O.
Rutherfordton),
No. Caro.—
SPENCER
BONDS NOT SOLD.—We are advised by the County Attorney under date
of July 26 that no sale has
yet been made of the $250,000 road bonds of¬
fered on June 2 (V. 96, p. 1514).
„
SAC CITY INDEPENDENT SCHOOL DISTRICT
(P.
COUNTY
Rockport), Ind.—BOND SALE.—On
315) were awarded to
There were no other
O.
Aug. 4 the $9,650 4)4% road-impt. bonds (V. 97, p.
Edgar Traylor for $9,710—the price being 100.621.
bidders.
Date June 15 1913.
Int. M. &N.
(P. O. Sac City),
Tex.—BOND OFFERING.—We are advised
offering for sale the $23,000 5% 10-40-yr. (opt.)
SPUR, Dickens County,
Sac County, Iowa.—BOJVD ELECTION.—An election wiU beheld Aug. 15
to vote oh a $10,000 bond proposition for the purchase of
Academy Hall and campus formerly the property of Sac City Institute.
that the City Secretary is
it is stated,
water-system bonds.
Denom. $1,000.
Date June 1 1913. Int. J. & D.
These bonds were offered without success on July 15 (V. 97, p. 255).
ST. FRANCIS LEVEE DISTRICT, Axle.—BONDS NOT SOLD.—
Local papers dated Aug, 1 state that no sale has yet been made of the $1 ,500.000 5)4 % 30-50-yr. levee-impt. bonds offered on May 13 (V. 96,p.l248).
STAFFORD
WARRANT
TOWNSHIP
SALE.—On July
(P. O. Marco), Green County, Ind.—
19 the $2,700 6% school-bldg. warrants
(V. 97, p. 134) were awarded to the Farmers' Bank of Marco for $2,736 05—
equal to 101.335.
Denom. $900.
Date July 15 1913. Int. ann. on July
15.
Due $900 on July .15 1914 and $1,800 on July 15 1915.
P SALEM, Columbiana County, Ohio.—BOND OFFERING.—Proposals
will be received until 12 m. Aug. 29 by G. Holmes, City Aud., for $1,515
5)4% street-impt. (city's portion) bonds.
Denom. $505.
Date Aug. 1
1913.
Int. ann.
Due Apr. 1 1915.
Cert, check for 2% of bonds bid for,
payable to the City Treas., required.
Bonds to be delivered and paid for
Within 10 days from time of award. " Purchaser to pay accrued int.
Proposals will be received until 12 m. Aug. 19, by G. Holmes, City
Auditor, for $40,318.25 5% 8-yr. ref. bonds, auth. Sec. 3916, Gen Code.
»
STAMFORD, Fairfield County, Conn.—BOND SALE.—The $22,000
5% 15-yr. public-inapt. bonds
awarded to R. L. Day & Co. of
offered on July 28 (V. 97, p. 194) were
Boston at 103,345.
Date July 1 1913.
STARK COUNTY (P. O. Canton), Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Sept. 3 by J. H. McConnell, Co. Aud.,
for $25,000 (assess.) and $25,000 (county's share)
road ext-impt. bonds.
Auth. Sec. 6956-15 Gen.
Denom.
(1) $318.25, (80) $500. Date Sept. 1,1,913. Int. M. and S. Cert,
check for 2% of bonds bid for, payable to City Treas., required.
Bonds
to be delivered and paid for within 10 days from time of award.
Purch. to
pay accrued int.
5% Massillon-Navarre
Code.
Denom. $500.
Int. M. & S. at Co. Treasury.
Due $10,000 on
Sept. 12 m 1915,1916 and 1917 and $20,000 on Sept. 12 1918.
Cert, check
on a Stark county bank for $500, payable to Board of County Oommrs.,
required.
Bonds to be delivered and paid for on Sept. 12.
Purchaser to
pay accrued interest.
Bids must be unconditional, except that the legality
of the bonds will be subject to the approval of the proper and qualified
Date
SANDUSKY, Erie County, Ohio.—BONDS DEFEA TED.—'The elec¬
tion held July 30 resulted in defeat and not in favor of the
proposition to
issue the $200,000 municipal electric-light-plant bonds (V. 97, p. 315).
The vote was 1,659 "for" to 1,307 "against,
a two-thirds majority being
necessary to authorize.
Sept.
12 1913.
attorneys.
SUMMERFIELD SCHOOL DISTRICT (P. 0. Summerfield), Noble
County, Ohio,—BOND SALE.—On Aug. 2 an issue of $9,000 6% building
Bank of Summerfield for $9,472—
equal to 105.244.
Denom. $500.
Date Aug, 2 1913.
Int. F. & A.
Due,$500 yearly.
SANDUSKY COUNTY (P. O. Fremont), Ohio.—PRICE PAID FOR
BONDS.—We are advised that the price paid for the $25,000 5% 3-yr. aver.)
flood-emergency-bridge bonds awarded on July 30 (V. 97, p. 315) to the
Colonial Savs. Bk. &Tr. Co. of Fremont was 100.168.
bonds was awarded to the First Nat.
,
NEW LOANS.
NEW LNANS.
NEW LCAM8,
$33,000
$300,000.00
$85,000.00
Town of Malta, Montana,
CITY OF
NOTICE IS HEREBY GIVEN that the Town
of Malta, Valley County, State of Montana,
will
offer for sale at the office of the Town Clerk, In
the Town of
Malta, Montana, on SATURDAY,
DAY OF SEPTEMBER, 1913,
at the hour of 2 o'clock p. 'm., its issue of water
bonds,
amounting
tq, thirty-thrOe
thousand
($33,000) dollars, of the par value of one thousand
($1,000) dollars each, said bonds bearing inter¬
est at not to exceed six (6) per. cent per annum,payable semi-annually on the 1st day of January
and the 1st day of July of each year, the said
bonds to bear date of January 1st, i914, due
twenty (20) yearn after date, and redeemable at
the option of the said Town at any time after, fif¬
teen (15) years from the date of issue.
Princi¬
pal and interest payable in lawful money Of the
united States at the office of the Town Treasurer
of said Town, or, at the option of the holder, at the
banking house of the Hanover National Bank
in the City and State of New York.
The money
received from the sale of said bonds to be,used
for the construction of a water plant and system
in Said Town to Supply said Town with water.
The bids to be accompanied by a certified check
in the sum of five hundred ($50.0) dollars, payable
to the Town Treasurer of the said Town of Malta,
SIXTH
as a guaranty that the bidder will take and pay
for said bonds as soon as the same are signed and
ready for delivery.
No bid can be received for
less than par and accrued interest.
The Town
Council reserves the right to reject any or all
bids.
RE-IMPROVEMENT BONDS
Public notice is hereby given, in accordance
with a resolution of the Council of the City of
Public notice is hereby riven in accordance
with a resolution of the Council of the City
Hoboken, N. J., passed on the twenty-third
day of July, 1913, and duly approved on the
twenty-eighth day of July, 1913, that sealed
proposals for the purchase of bonds of the City
of Hoboken, N. J., to be known as Re^pavement
Bonds, in the amount of $300,000, to run for a
period of thirty years from July 1, 1913, coupon
or registered at the option of the bidder, will be
received at the regular meeting of the Council
of Hoboken,
N. J., passed on the twenty-third
1913, and duly approved on the
of July, 1913, that sealed
proposals for the purchase of bonds of the City
of Hoboken, N. J., to be known as "Re-improve¬
ment Bonds", in the amount of $85,000, to run
for a period of thirty years from the date of issue/
coupon or registered at the option of the bidder,
will be received at the regular meeting of the Coun¬
to be held on
cil to be held
day of July,
twenty-eighth day
at 4 o'clock p. m.
at 4 o'clock p. m.
Bidders
Bidders to state
est at
cent
prices on bonds bearing inter¬
the rate of four and one-half (4)4%) per
per annum,
payable semi-annually, on the
first days of July and January in each year.
Bids will be received for any part or
parts
of said.bonds.
All
proposals to be addressed
to the Mayor
and Council of the City of Hoboken, N. J., and
endorsed
"Proposals for Repavement Bonds",
and shall be accompanied by a certified check or
cash for the sum of one thousand dollars.
The legality of the issue of the aforesaid bonds
will be passed on by Messrs. Hawkins, Delafield
&
Longfellow, and prepared and certified to by
the Columbia-Knickerbocker Trust Company.
The Mayor and Council reserve the right to
reject any or all bids if deemed in the interest df
the city so to do.
By order of the Council.
*
JAMES H. LONDRIGAN,
City Clerk.
Light Offices
on
Wednesday, August 13, 1913,
Wednesday, August 13, 1913,
*
By order of the Town Council.
H. M. KIRTON, Town Clerk.
Dated Malta, Montana, July-23, 1913.
OF HOBOKEN.
CITY
HOBOKEN,
RE-PAVEMENT BONDS
WATER BONDS.
THE
$11,000 water-main-extension bonds.
SOUTH
SAN
FRANCISCO, San Mateo County, Cal.—BOND
OFFERING^—According to reports proposals will be received until 8 p.m.
Aug. 11 by W. J. Smith, City Clerk, for $50,000, of the $62,000 5%
1-31-yr.
(ser.) sewer bonds, voted May 13 (V. 96, p. 1575).
Denom.
$100, $500 and $1,000.
Cert, check for 5% required.
BOUND ROCK INDEPENDENT SCHOOL DISTRICT (P. O. Round
Bock), Williamson County, Tex.—BONDS VOTED.—The question of
„
terest
at
to
state
prices on bonds bearing in¬
and one-half (4)4%)
of four
the rate
payable semi-annually.
be addressed to„the Mayor
per cent per annum,
All
proposals
to
and Council of the City of Hoboken, N. J., and
indorsed "Proposals for Re-improvement Bonds" ,
and shall
or
be
accompanied by a certified check
$500.
are
to be issued pursuant to
cash for the sum or
These
bonds
the provisions of an Act of the Legislature of
the State of New Jersey entitled "An Act providing
for
the
re-improvement of any street,' avenue,
highway, or the portion of such .street,
road or highway In ahy city which, has
been heretofore improved, and for which improve-,
ment assessments for benefits have been hereto¬
fore levied and imposed, and for the issue of
bonds to pay for sand improvements." approved
May 15, 1907.
The legality of the issue of the aforesaid bonds
will be passed on by Messrs. Hawkins, Delafield
«& Longfellow and prepared tod certified by the
Columbia-Knickerbocker
Trust
Company.
The Mayor and ►Council reserve the right to
reject any or ell bids if deemed in the interest
of the city so to do.
By order of the Council.
JAMES H. LONDRIGAN,
City Clerk.
rdad
or
avenue,
Low Rental
Bolger, Mosser & Willaman
136-138-140 FRONT STREET
Block Front, Pine to De Peyster St.,
New York
MUNICIPAL BONDS
Legal for Savings Banks,
Portal Savings and Trust
Formerly occupied by Federal Sugar Co.
Moderp
building;
Apply
on
good
elevator
premises
or
service
Street, New York
Funds.
SEND FOR LIST.
CHICAOO
M loath Da lallo St.
to
Cammann, Voorhees & Floyd
84 William
■
BLODGET
&
CO.
BONDS
60
STATE STREET,
BOSTON
30 PINE STREET, NEW
,
YORK
*STATE, CITY& RAILROAD BONDS
SUNBURY,
Delaware
County,
Amount.
OFFERING.—Pro-
Ohio.—BOND
-
North St. bonds.
Due $450 yearly on Aug. 1 from 1914 to 1923 incl.
Vernon St. bonds.
Due $730 yrly. on Aug. 1 from 1914 to 1923 incl.
Cherry St. bonds.
Due $600 yrly. on Aug. 1 from 1914 to 1923 incl.
Morning St. bds. Due $250 yrly. on Aug. 1 from 1914 to 1923 incl.
Date Aug. 1 1913.
Int. P. & A. at office of Vil. Treas.
Cert, check for
3% of each block of bonds bid upon, payable to Vil. Treas., required.
Bonds to be delivered and paid for within 10 days from day of sale.
Sepa¬
$4,500
7,300
6,000
2.500
8,160
2,737
4,462
2,206
2,507
7,027
22,000
1,213
1,404
5,231
13,381
1,995
rate bids must be made for each block of bonds.
DISTRICT (P.
O. Rock
Springs), Wyo.;—BOND OFFERING.—Proposals will be received until
8:30 p. m. Aug. 11, it is stated, by C. W. Crofts, Dist. Clerk, for $65,000
5% 10-24-yr. bldg. bonds.
Int. ann. Cert. check for 5% required.
COUNTY
SWEETWATER
SCHOOL
(P. O. Port Worth), Tex.—BONDS DE¬
FEATED.—The proposition to issue the $200,000 jail-constr. bonds (V•
96, p. 1649) was defeated at the election held July 19.
COUNTY
TARRANT
TOWNSHIP
TEANECK
N.
DISTRICT,
SCHOOL
OFFERING.—Proposals will
J.—BOND
Bergen
received until
be
p.
m.
P. D.), for
Date July 15 1913.
Denom. $1,000.
Int.
J.
&
Ji
at
&
Trust
Palisade
Guaranty Co.
of Englewood.
Due
Certified check for
Bids must be
the District Clerk. The proceedings relative
2% of bonds bid for, payable to District Clerk, required.
on
forms furnished by
to the issue of the bonds have been
The
ments
71
73
71
95
66
99
12
71
62
41
56
71
835 36
approved by the State Attorney-General.
779 06
10,689
1.446
1,906
4,088
90
20
56
18
1.447 68
TEMPLE, Belt County, Tex.—BONDS NOT SOLD.—We are advised
no sale has been made of the $75,000 5% 20-40-yr. (opt.) sewer bonds,
offered on July 8 (V. 96, p. 1857).
that
246 64
St. Joseph County, Mich.—BOND OFFERING.—
Proposals will be received until 12 m. Sept. 1 by J. J. Dock, City Clerk,
for the $30,000 water-works and $20,000 electric-light 5% bonds voted
July 7 (V. 97, p. 194).
Int. ann. at office of City Treas.
Cert, check for
5% of bid, payable to H. I. Wright, City Treas., required.
THREE RIVERS,
750 30
124 38 Sewer No.
Amount. Rate.
six months ending
aggregating $183,-
$16,000
10,000
June 30 the following 44 issues of 5% assess, bonds,
166 01, were purchased by the Sinking Fund at par:
1914 &
500
s-a.
1914 &
850
290
s-a.
1914 &
&
&
&
&
1912
54 94 Mar. 1914
281 35 Mar. 1914
781 11 Mar 1914
105 71 Mar. 1914
41 63 Mar. 1914
73 Mar. 1914
275 71 Mar. 1914
239 95 Mar. 1914
77 66 Mar. 1914
642 99 Mar 1914
98 12 Mar. 1914
133 71 Mar. 1914
151 62 Mar. 1914
&
750
s-a.
&
&
550
s-a.
s-a.
70
100
s-a.
s-a.
&
420
580
&
&
130
s-a.
900
s-a.
s-a.
&
120
340
160
144 41 Mar. 1914 &
480
s-a.
163 56 Mar. 1914 &
117 71 Mar. 1914 &
330 s-a.
500 s-a.
115 36 Mar. 1914 &
240
s-a.
200
s-a.
&
&
.
1913
1913
1913
1913
1913
1913
1913
1913
1913
1913
1913
s-a.
s-a.
350
150
& 1,400 s-a.
&
210 s-a.
.
1913
1912
1913
1913
1913
s-a.
470 s-a.
230 s-a.
130 s-a.
179
789
96
106
308
&
&
06 Mar. 1914 &
s-a.
s-a.
s-a.
s-a.
90 Mar. 1914 & 1,100 s-a.
20 Mar. 1914 &
150 s-a.
56 Mar. 1914 &
200
s-a.
18 Mar 1914 &
247 68 Mar. 1914 &
420
s-a.
400
s-a.
.
36 64 Mar. 1914 &
150 30 Mar. 1914 &
70
s-a.
200
s-a.
19 38 Mar. 1914 &
330 39 Mar. 1914 &
35
520
s-a.
332 14 Mar. 1914 &
500
s-a.
189 66 Mar. 1914 &
110 04 Mar. 1914 &
580
s-a.
s-a.
290
s-a.
74 14 Mar. 1914 &
100
1913
1913 $ 615 66 Mar. 1914 & 2,000
1913
115 44 Mar. 1914 &
260
s-a.
1913
s-a.
s-a.
also purchased by the Sinking Fund:
Due.
Dec. 1 1927
June 1 1936
Date.
—Dec. 1 1912
—June 1 1913
ENGINEERS
LOANS.
NEW
s-a.
215 54 Mar.
510 70 Mar.
127 68 Mar.
232 52 Mar.
163 47 Mar. 1914 &
— -
—
s-a.
230
1913
Purpose.
Bridge.
Park and boulevard
4
434
$400
172 74 Mar. 1914 &
3,000 00 Mar. 1914 & 1,000
1912
1913
1912
1913
1912
1912
1913
19-13
29
29
26
26
The following general bonds were
carried, it is stated, at the election hold June 16.
the
1912
1912
1913
$289 92 Mar. 1914 &
1914
136 05 Mar. 1914
37 56 Mar. 1914
502 19 Mar. 1914
1152-April 24 1913
2,720 04 Virginia St. No. 3-May
974 14 Hoag St. No. 3.-.May
18,615 66 AuburnAve.No.3-June
2,455 44 Princeton Dr.No.lJune
SCHOOL DISTRICT (P. O. Tilden), Madison County,
Neb.—BONDS VOTED.—The proposition to issue $58,000 building bonds,
TILDEN
SALES.—During
1912
1912
1912
1912
1912
5,010 39 LafayetteSt. No.3.May 29 1913
4,832 14 Mane St. No, 2—May 29 1913
5,409 66 University
Bldg.
No. 1
May 29 1913
THOMASTON, Upson County, GA.—BONDS NOT SOLD.—No sale
was made on July 15 of
the two issues of 5% gold coup, tax-free bonds,
aggregating $20,000 (V. 97, p. 134) offered on that day.
Ohio.—BOND
11
3,133
1,617
official notice of this bond, offering will be found among the advertise¬
elsewhere in this Department.
TOLEDO,
47
94
35
2,378
3,193
3,191
4,464
$1,000 yearly on July 15 from 1914 to 1930, inclusive.
made
00
671 63
Aug. 19 by C. A. Richter, District Clerk (P. O. Englewood R.
$17,000 5% coupon school bonds.
70
68
50
05
56
19
1,900
4,055
5,459
1,247
8,742
County,
8
Dec.
7
DelawareAve.No.4Nov. 18
First St. No. 4—Oct. 21
GoodaleAve.No. 1 Nov. 16
Grand Ave. No. 2_Oct. 20
George St. No. 2__Dec. 30
Smead Ave. No. 1 Dec. 22
1
Sewer No. 1139--Jan.
Sewer No. 1141--Jan. 16
Alley No. 49
-Dec.
6
Erie St. No. 14—Oct. 25
Hoag St. No. 2—Jan. 24
MacomberSt.No.l Oct. 13
Alley No. 48Jan.
1
Ewing St. No. 2—Nov. 15
Short St. No. l.„Nov. 11
Genesee St. No. 2„Mar. 28
Jackson St. No. 2_Mar. 19
Prospect Ave.No.2Mar. 28
Waite Ave. No. 2_Dec. 12
Wabash St. No. 3_Mar. 28
ParkwoodPl.No. 1 Mar. 28
Waite Ave. No. 1-Mar. 28
Sewer No. 1138-Mar.
2
Sewer No. 1142-Mar. 28
Sewer No. 1143--Mar. 28
Sewer No. 1146--Mar. 28
Nessle St. No. l-.April
1
W'druffAve.No.l2April 1
Alley No. 50
April 24
Warren St. No. 5-April 24
Sewer No. 1134—April 24
Sewer No. 1134—April 24
Sewer No. 1150.-April 24
9
No.
xotii.
Due.
Date.
Purpose.
$1,489 92 Sewer No. 1131__Sept. 9 1912
2,242 74 Buffalo St. No. 1-Nov. 27 1912
4,715 54 Collingwood Ave-
Sosals
will be received
until 1 p. m.
Aug. 11 by M. Utley, Vil. Clerk, for
following
5M% street-impt.
bonds:
le
[Vol.
CHRONICLE
THE
396
$250,000
ESTABLISHED
1894
POLK COUNTY, TENN.,
PIKE
We
will
offer
ROAD
for
sale
$acoit &
BONDS
and
sell
$250,000
,
of
County, Tennessee, Pike
Road bonds,
running from five to thirty years, on AUGUST
Polk
30TH
1913.
bids will be received until noon of said
Seafed
A certified check for $2,500 dollars
date.
accompany each bid as a guaranty of
The right is reserved to reject any
ifin
our
FINANCIAL
ENGINEERING
AND
REPORTS
opinion they are too low.
A full description will be mailed to all who are
interested in this issue.
Polk County is the richest county (per capita)
of any county in Tennessee.
Address all letters to Pike Commission.
Lock Box 146, Benton, Tennessee.
/,
T.
O. PACK, Clerk.
JAS.
<£n«nem
.
should
good faith.
or all bids
H.
WILLIAMSON,
Mountain
VALUATIONS OF RAILROADS AND PUBLIC UTILITIES
115 BROADWAY,
SAN FRANCISCO
Chairman.
States
SYSTEM
NEW
IN
We
COLORADO.
ARIZONA.
MEXICO.
Engineering Service?
Do You Need
Telephone
BELL
NEW YORK
NEW ORLEANS
Examine,
Design, Construct
UTAH.
WYOMINQ. IDAHO AND MONTANA
Central
Power and
Steam
7% STOCK
Shares
Water
Transmission Lines,
Steel Mills, Warehouses.
Powers,
.
Equip
Docks, Terminals,
Piers,
BOETTCHER, PORTER
or
Lighting Stations,
Electric Railways,
and
Repair Shops,
N« Bond*—No Preferred
Appraise,
Correspondence Invited.
& COMPANY
Church Kerr
DENVER
37
F.
WM.
KRAFT
& Company
Wall Street, New York
Boston
Chicago
Detroit
St. Louis
San Francisco
Pittsburgh
LAWYER,
Specializing in Examination of
Municipal
and Corporation
Bonds
1087-9 FIRST NATIONAL BANK BLDG..
CHICAGO, ILL.
Adrian H. Muller & Son
AUCTIONEERS
My
ACCOUNTANTS.
and
©F
CERTIFIED PUBLIC ACCOUNTANTS.
STOCKS and BONDS
Cincinnati and
AUDITORS
FOR
FINANCIAL
-
IN8TITO
TIONS, INDUSTRIAL AND
MINING COMPANIES.
Investigations. Financial Statements,
Periodical Audits and Accounting
'
'
EVERY WEDNESDAY
d
Office, No. 5S WILLIAM
act
as
is
advise
to
broker
investors,
for
in*
banks.
Institutions, businesses and
PARK, POTTER & CO
London, England.
business
dividual
Regular Weekly Sales
New York, Chicago,
Investment Counsel
•
,
STREET
Corner Pine Street.
h
those handling trust
funds
Correepondence Invited
C M. Keys
85 Nassau Street, New
York
Aug. 9
TROPICO
SCHOOL
Los
Tropico),
O.
(P.
DISTRICT
County, Cal.—BONDS VOTED.—Local newspaper reports state
grammar-school-constr. bonds.
TROY,
10
a.
N. Y.—BOND OFFERING.—Proposals will be
Aug. 12 by W. H. Dennin, City Compt.,
m.
received until
for $100,000 5% tax-
WEST
Denom. $25,000.
for 1% of bonds,
p.
315).
Ohio.—BOND SALE.—On
97, p. 255)
OFFERING.—Additional in¬
Aug. 11 of the $84,000 (of
series "D" school bonds (V. 97,
8:30 p. m. on
Date Aug. 15
1933, $20,000
on a national
Hudson Co., N. J., or in the city
Manhattan, for $840, payable to
Proposals for these bonds will be received until
Bautz Jr., Town Clerk.
Denom. $1,000.
that day by E.
1913.
Int. F. & A.
Due on Aug. 15 as follows: $10,000 in
in 1934 ,1935 and 1936 and $14 J)00 in 1937.
Cert, check
bank or trust company doing business
county and State of N. Y., Borough
"Town of Union", required.
in
of
Logan County, Ohio.—BONDS NOT SOLD.—
sale was made on Aug. 5 for the $25,500 524%
PARK,
Aug. 1 (V.
of Nebraska at par.
SCHOOL DISTRICT (P. O. Ventura). Ventura
County, Cal.—AMOUNT OF BONDS.—The amount of 524% schoolbuilding bonds purchased by the Fillmore State Bank of Fillmore for $3,520
(100.571) and int. (V. 97, p. 256) was $3,500.
(P. O. Union), Cass County, Neb.—
district recently authorized the issuance of
WINTER PARK, Orange County, Pla.—BOND OFFERING.—The
$10,000 7% coupon electric-light bonds offered without success on June 20
(V. 96, p. 1858) have been placed in the hands of the Bank of Winter Park
for disposal.
Denom. $500.
Date July 1 1913.
Int. J. & J. at Winter
Park. Due $500 yearly from 1919 to 1938 incl.
C. D. Powell is Cashier of
above bank.
YOUNGSTOWN,"TMahoning County, Ohio.—BOND OFFERING.—
DRAINAGE DISTRICT
(P. O. Venice), Plaquemines
Parish, La.—BOND OFFERING.—Proposals will be received until 12 m.,
Sept 6, by the Bd. of Commr's., A. A. Buras, Prest., for $59,500 5% 40-yr.
drainage bonds.
VENICE
Proposals will be received until 2 p. m. Aug. 11 (date changed from Aug. 14
by D. J. Jones, City Aud., for the following 5% coup, or reg. bonds:
$110,000 water-works bonds.
Due $10,000 yrly. on Oct. 1 from 1915 to
1925 incl.
Raleigh), No. Caro.—BOND ELECTION.—
held Aug. 12 to vote on the proposition to issue $1,000,good-roads-construction bonds.
WALLA WALLA, Walla Walla County, Wash.—BONDS AUTHOR¬
IZED.—An ordinance was passed July 23, it is stated, providing for the
issuance of $7jOOO Division St.-paving bonds.
BOND SALE.—We are advised that the remaining $13,215 45 of an Issue
of $14,215 45 East Alder St.-Impt. bonds (Y. 96, p. 1789) has been sold to
WAKE COUNTY (P. O.
Due $384 yrly. on Oct. 1 from 1914
bonds.
1,920 Hogue St. paving
to 1918 incl.
1,425 Wick Ave. impt. bonds.
6,150 Fulton St. paving bonds.
to 1918 incl.
Due Oct. 1 1914.
Due $1,230 yrly. onlOct. 1 from 1914
Due $1,682 yrly. on Oct. 1 from 1914
8,410 Ridge Ave. paving bonds.
to 1918 incl.
'
local people.
M
Date Aug. 18 1913.
Int. seml-ann. at office
Cert, check for 2% of each block of bonds bid
WATERTOWN, Middlesex County, Mass.—TEMPORARY LOAN.—
We are advised that this city recently disposed of a loan of $25,000 at
private sale. /
.
.
required.
School District of Township of
Teaneck
'
Bergen County, N. J.
will be received at the meet¬
ing of the Board of Education, at the Township
of Teaneck, in Schoolhouse No. 2, Teaneck Road
and Railroad Avenue, at 8 O'clock P. M. AUG.
19, 1913, for the purchase of $17,000 5 Per Cent
Coupon School Bonds of the School District of
the Township of Teaneck, in the County of Ber¬
gen and State of New Jersey.
Bonds to be of the
denomination of $1,000 each and to be dated
July 15th, 1913, and to mature $1,000 annually
from the fifteenth day of July, 1914, to July 15th,
1930, inclusive.
Interest payable semi-annually
on January 15th and July 15th.
Both principal
and interest payable at the Palisade Trust &
Guaranty Company of Englewood, N. J.
The proceedings relative to the issue of the
bonds have been approved by
Hon. Edmund
Wilson, Attorney-General of the State of New
J ersey
the purchaser at
& Guaranty Com¬
Englewood, N. J.
be on the forms furnished by the
A certified check payable to the
Carl A. Richter, District Clerk, for 2 Per
Cent of the amount of the bid, must accompany
Bids
must
undersigned.
order of
Premiums marked off from January
Losses
Bids
will
be
opened at a public meeting
2iat 8 o'clock P. M. Aug.
at
19,
1913.
The right is reserved Jto reject any
For blanklforms of bids and other
and all bids.
information,
address Carl A. Richter, District Clerk,
Teaneck
Englewood R. F. D., N. J.
CARL A. RICHTER,
District
Clerk,
January,
1st January, 1912.--......-....-...—..................
1st, 1912, to December 31st, 1912
paid during the year.
Returns
of Premiums
Expenses, including
ments,-etc
—
-
$91,649 80
-
stationery, advertise¬
563,285 21
outstanding certificates of profits will be paid to the holders
thereof, or their legal representatives, on and after Tuesday the fourth-of February next.
t .
The outstanding certificates of the issue of 1907 will be redeemed and paid to the holders thereof, or theL
legal representatives, on and after Tuesday the fourth of February next, from which date all interest thereon
wfll cease. The certificates to be produced at the time of payment and canceled."
A dividend of Forty per cent is declared on the earned premiums of the Company for the year ending 31st
December, 1912, which are entitled to participate In dividend, for which, upon application, certificates will be
Interest of Six per cent on the
issued on and after Tuesday the
sixth of May next.
Q. STANTON
By order of the Board,
FLOYD-JONES, Secretary.
TRUSTEES.
CHARLES M. PRATT,
DALLAS B. PRATT,
GEORGE W. QUINTARD.
ANTON A. RAVEN.
JOHN J. RIKER,
HERBERT L. GRIGGS,
ANSON W. HARD,
THOMAS H. HUBBARD,
LEWIS CASS LED YARD:
CHARLES D. LEVERICH;
JOHN N. BEACH,
ERNEST O. BLISS,
VERNON H. BROWN,
WALDRON P. BROWN;
JOHN CLAFLIN
DOUGLAS ROBINSON.
WILLIAM J. SCHIEFFELIN»
WILLIAM SLOANE.
GEORGE H. MACY,
NICHOLAS F. PALMER,
GEORGE C. CLARK,
CLEVELAND H. DODGE;
CORNELIUS ELDERT,
.
HENRY PARISH,
ADOLF
RICHARD H. EWART.
PHILIP A. S. FRANKLIN)
_
LOUIS STERN,
WILLIAM A. STREET.
GEORGE E. TURNURE.
PAVENSl-EDT,
JAMES H. POST,
RAVEN, President.
•
.
_
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART, 4/A Vice-President.
SHEET.
LIABILITIES.
ASSETS.
Bonds
$670,000 00
-——
1,777,900 00
2,716,537 00
282,520 00
Real Estate cor. Wall and William Streets
and Exchange Place, containing offices
Real Estate en
Staten Island (held
under
481,Laws of 1887)
Premium Notes
Bills Receivable
-
hands of European Bankers to
pay losses under policies payable In
foreign countries
paid
75,000 00
692.766 69
Temporary Investments
1913)
MANAGEMENT ASSOCIATION
Return Premiums
Unpaid
-
Settled, Including Compen¬
sation, etc
Certificates of Profits
BOSTON
147 MILK STREET
(payable Janu-
5 NASSAU ST.
CHICAGO
FIRST NAT. BANK BLDG
22,550 09
7,293.220 00
-
298,641 20
994,882 29
400,875 00
$11,020,690 67
$13,623,851 38
,
balance of-.————Bonds on the 31st day of December, 1912, amounted to........
accrued on the 31st day of Deoember, 19i2, amounted to
Re-Insurance due or acsrued, in companies authorized In New York, on the 31st day of
—$2,603,260 71
82
26,696 09
Thus leaving a
Rents due and
—
December,
19L2
amounted to..--.Unexpired re-Insurance premiums on the 31st day of December, 1912, amounted to.
Note: The Insurance Department has estimated the value
the Real Estate corner
William Streets and Exchange Plaea In excess of the Book Value given above, at.....—
And the property at Staten Island In excess of the Book Value, at..
----the Market Value of Stocks, Bonds and other Securities on the 31st day of December,
ex-
Wall and
of
*
1912,
NEWVORK
82,698 09
Ordered Redeemed t
Withheld for Unpaid Premiums
Certificates of Profits Outstanding..—-
Accrued Interest on
CORPORATIONS
104,322 78
110,026 19
203,735 66
—
.........
Re-insurance Premiums
615.303 16
=iJ£=
SERVICE
767,050 94
262,924 06
.....
Claims not
4.299.426 04
$2,174,058 00
Un¬
in
Cash in Bank.
ary
of Adjustment
Premlums on Unterminated Risks
Certificates of Profits and Interest
In process
Reserve for Taxes
900,000 00
;
Unsettled
Estimated Losses and Losses
New York
New York City and New York Trust
Companies and Bank Stocks
.....
Stocks and Bonds of Railroads......—
Other Securities
-------Special Deposits in Banks and Trust
Companies
Cash
PUBLIC
.
CORNELIUS I&LDERT, Vice-President.
WALTER WOOD PARSONS, 2d Vice-President.
provisions of Chapter
GENERAL MANAGERS OP
741,416 55
-
BALANCE
STONE & WEBSTER
-$2,104,257 48
$197,204 74
544,016 02
............
195.79
....
—
officers' salaries and clerks' compensation,
United States and State of
CONSTRUCTING ENGINEERS
79
9
34 '
28 475,863 41
$1,362,840 93
SECURITIES Of
ENGINEERING CORPORATION
753,427 33
....—.............$4,055,834 05
--—* ----- - -----
Less Salvages
.Re-insurances
Discount
A, A.
STONE & WEBSTER
th*
transportation insurance.
1912, to the 31st December, 1912
...$4,069,457 60
Stone & Webster
PUBLIC SERVICE CORPORATIONS
1913.
22d.
has been confined to marine and inland
the Company received during the year—..$302,088
and Trust Companies, etc
...
42,787
received less Taxes and Expenses—
—...
...—..... 130,987
Rent
January
1912.
Interest on the investments of
Interest on Deposits in Banks
each bid.
Schoolhouse No.
York;
submit the foUoicing statement of its affairs oa
..............--.--$4,822,884 99
Total Premiums..
A dividend of
The bonds will be delivered to
pany,
31jJ of December,
Premiums on such risks from the 1st
Premiums on Policies not marked oft
Sealed Proposals
.
New
conformity with the Charter of the Company,
The Company's business
BONDS
'
ATLANTIC MUTUAL INSURANCE COMPANY.
The Trustees, in
the office of the, Palisade Trust
later than Aug. 18.
MISCELLANEOUS.
OFFICE OF THE
CENT SCHOOL
of Sinking Fund Trustees.
for, payable to City Aud.,
Bonds to be delivered and paid for not
LOANS.
$17,000
PER
Due $1,000 yrly. on Oct. 1
bonds.
5,000 street-impt. (city's portion)
from 1915 to 1919 incl.
An election will be
000
6
SALE.—On
bonds offered on that day (V. 97, p. 255.)
WILLOW GROVE
$5,000 building bonds, it is stated.
UNION TOWNSHIP (P. O. Rutherford), Bergen County, N. J.-—
BOND OFFERING.—Reports state that proposals will be received until
8:30 p. m. Aug. 11 by J. F. Woods, Twp. Clerk, for $48,000 424%16-yr.
(av.) town-hall bonds.
Cert, check for $500 required.
These bonds were
offered without success on July 7 (Y. 97, p. 134).
NEW
on
to the State
UNION SCHOOL DISTRICT
BONDS AUTHORIZED.—This
Ind.— BOJVD
(aver.) Ernest Cox County-line-road-impt.
to the Dickinson Trust Co. of Richmond
J. F. Wild & Co. of Indianapolis bid
Cuyahoga County, Ohio.—BONDS NOT SOLD.—
for the $15,000 5 % 30-yr. public-hall constr. bonds
97, p. 71).
WEST POINT (P. O. Baraboo), Sauk County, W is .—BOND ELE(fTION.—An election will be held Aug. 12, it is stated, to vote on the ques¬
tion of issuing $19,000 bridge bonds.
WHITE PLAINS (Village), Westchester County, N. Y.—BOND
SALE.—On Aug. 4 the two issues of 5% reg. bonds, aggregating $25,000
(V. 97, p. 316), were awarded to R. W. Pressprich & Co. of N.Y. at 100.333
and int.
Farson, 8on & Co. of N. Y. bid 100.287.
,
WILBER, Saline County, Neb—BOND SALE.—The $12,000 5%
5-20-yr. (opt.) light bonds offered on July 16 (V. 97, p. 134) were awarded
WEST
offered
formation is at hand relative to the offering on
issue of $334,000) 4^% coupon or reg.
Richmond),
O.
No bids were received
Aug. 2 the $5,000 5% coupon taxable fire-dept.-impt. bonds (V.
awarded to the Commercial Bank of Uhrichsville at 100.1.
UNION, Hudson County, N. J —BOND
LIBERTY,
Reports state that no
6 2-3-yr. (aver.) street
were
an
(P.
Aug. 4 the $5,000 424 % 524-yr.
bonds (V. 97, p. 316), were awarded
at par with immediate delivery.
payable to the "City of Troy", required. Bonds to be delivered and paid for
within 10 days from time of award.
Purchaser to pay accrued interest.
Official circular states that the city has never defaulted on any of its obli¬
gations.
UHRICHSVILLE, Tuscarawas County,
COUNTY
WAYNE
Angeles
that this
district recently voted $20,000
exempt certificates of indebtedness or revenue bonds.
Date Aug. 12 1913.
Due Oct. 18 1913.
Cert, check
397
CHRONICLE
THE
1913.]
ceeded the Company's
valuation by..—.
)n the basis of these increased valuations the
balance would be
—
-
257,330 06
-
47,650 39
450,573 96
63,700 0fj
1,695,027 24
$5,185,044 28
398
THE
CHRONICLE
TOWNSHIP, Ont.—DEBENTURES DEFEATED.—
According to reports, the proposition to issue $20,000 road and bridgedebentures was defeated at a recent election.
BLYTH, Ont.—DEBENTURE ELECTION PROPOSED.—According to
reports, an election will be held in the near future to vote on a by-law pro¬
viding for the issuance of $4,000 in debentures for the maintenance and
construction of a rural telephone system.
ST.
CATHERINES,
Ont.—DEBENTURES
VOTED.—The by-law
providing for the raising of $2,000 to acquire a site for the Canadian Flax
Mills, Ltd., carried, it is stated, at a recent election.
BRADFORD, Ont.—LOAN ELECTION.—An election will be held
Aug. 12, reports state, to vote on the question of raising $20,000 to be
granted as a loan to Watson-Smith Co. to construct a factory.
BRANT
has
been
(V. 96,
TOWNSHIP,
made
of
the
dt?Xip15a
BRANTFORD
Ont.—•DEBENTURES NOT SOLD.—No sale
5% school debentures offered on June 9
fanted,& we
advised, submitted
to the Flood
Land
Co. of Regina.
Co.are
of Toronto
bid
of $4,700.
$7,700
enzie
reports state.
,
COLLING WOOD,
Ont.—DEBENTURES NOT SOLD.—No sale was
July 15 of the $30,000 20-yr. hydro-electric power, $17,000 20-yr.
consolidated floating debt and $7,000 30-yr. 5% debentures offered on that
day (V. 97, p. 72).
on
QLENWOOD SCHOOL DISTRICT, Man.—DEBENTURES VOTED.
—According to reports, this district recently voted to issue $30,000 building
debentures.
GRANDVIEW, Man.—DEBENTURES NOT SOLD.—We
advised
that no sale has been made of the $17,000 6% 20-yr. debentures offered
on July 12 (V. 96. p. 1859).
GRAVENHURST
were
received
on
Ont.—DEBENTURES
are
SOLD.—No
NOT
July 7 for the $8,000 5H % 30-yr. So. Palls power-station97, p. 72).
HAT,
Alta.—DEBENTURE
ELECTION.—It
is re¬
ported that an election will be held Aug. 12 to vote on the questions of issu¬
ing $20,000 hay-market and $14,000 5% 20-year municipal and park-sitepurchase debentures.
>
DEBENTURES VOTED.—At the election held July 8, the question of
issuing $76,653 85 sidewalk debentures carried, reports state.
NAPANEE, Ont —DEBENTURES NOT SOLD.—No sale
Ju'l96) °f the
made
was
Alta.—DEBENTURE
SWIFT CURRENT, Sask.—DEBENTURE
SALE.—During July, Terry
Briggs & Slayton of Toledo purchased, it is stated, $142,000
electric-light
TILBURY, Ont .—DEBENTURE ELECTION.—A vote will be taken
Aug. 15, it is stated, on the question of issuing $10,000 debentures as a loan
to the Canadian Forge Co., Ltd.
TOR.ONTO,
water
Ont.—DEBENTURE SALE.—An issue of
$75,000 4%
debentures, due 1948, was purchased by G. A. Stimson & Co. erf
?• U.—NEW LOAN.—An
If®!3 • 1 1953 and interest Feb. 1 and Aug. 1
^
Surplus and
m
Undivided Profits
NOT SOLD.—We
are
advised by
W^THOUS, Sask.—DEBENTURE
6%
'
SALE.—The $35,000 water-works
30-yr. debentures voted June 2 (V. 97. p. 1792)
Terry, Briggs & Slayton of Toledo, reports State.
"
,
THE J. G. WHITE COMPANIES
ENGINEERS
m
$2,000,000 00
•
$14,$25,643 12
MANAGERS
-
FINANCIERS
This Company aoto as Executor, Administrator, Guardian, Trustee, Court
Depositary and in other recognized trust capacities.
It allows Interest at current rates on deposits.
It holde, manages and invests money, securities and other property, real or
personal, for estates, corporations and individuals.
43
Exchange Place,
Chicago.
NEW YORK
-
San Franeieee.
Landaa.
Manila, Para, Buenoe Aires, Santiago, CUE.
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, Vice-Preeident
WILLIAMSON PELL, Ant. Secretary
at office of Brown,
ENGINEERS
'
m
year
under date of July 31 that no sale has
yet been made of the
$5,000 6% 10-installment debentures offered on July 1 (V. 96,
p. 1725).
Company of New York
m
■
£510,000 4*4%
4%% local-impt. debentures, due 1933.
WABAMUN, Alta.—DEBENTURES
45-47 WALL STREET
,
of
DEBENTURE SALE.-—During the month of
July G. A. Stimson & Co.
of Toronto purchased $111,500
TRUST COMPANIES.
,
each
Shipley & Co.
and $35,000 sewerage
•
issue
consolidated stock offered at 95 in London until
July 28 by Brown, Shipley
& Co. was fully subscribed,
according to newspaper dispatches.
The loan
is to provide funds for
schools, sewers and water worksPrincipal due
have been purchased by
Capital,
be
debentures.
4H % 20-yr. debentures, it is stated.
Usited States Trust
will
.
REGINA SCHOOL DISTRICT NO. 4, Sask.—DEBENTURE OFFER¬
ING.—J. H. Cunningham, Secy.-Treas., will receive proposals for $275,000
CHARTERED 1853
OFFERING.—Proposals
Aug. 22, it is stated, by R. D. Ballantyne, Secy.-Treas
for
$10,000 water-works and $4,000 electric-light 5H
% 20-yr. debentures.
Ont.
DEBENTURE
OFFERING.—Proposals
will
be
received until 12 m. (to-day) Aug. 9 by G. Elliott.
Town Clerk, for $35,000
5% school debentures.
Due in 30 annual installments.
on
(V. 97.
^ ^^ °^° 2 yr"det)entures offered on that day.
STETTLER
received until
Toronto during July.
bids
dam-con»tr. debentures offered on that day (V.
MEDICINE
W. A. Mac
a
SOUTH VANCOUVER,IB. C.—DEBENTURES
VOTED.—At a recent
the burgesses passed a by-law
providing for the acquiring and
improving of park sites, reports state.
Ont.—DEBENTURE
OFFERING.—
Reports state that proposals will be received for 5% 1-30-yr. debentures
in amounts from $350 to $1,400.
A, E. Watts is Twp. Solicitor.
made
Sask.—
election
TOWNSHIP,
CHARLOTTETOWN, P. E. I.—DEBENTURE OFFERING.—This
place is offering for sale $3,000 4H % debentures in denominations of $500,
<Rui:al Municipality No. 259, P. O. Richlea),
BIDS —A 20-day option to
purchase at 94.90 & int. the $5,000 6% 20installment road-impt. debentures offered on
July 14 (V. 96, p. 1725) was
1651).
p.
xcvii.
RIVERS, Man .—DEBENTURES VOTED.—At a recent election the
proposition to issue $8,000 fire-protection debentures carried, it is
reported
ST. AGNES ROMAN CATHOLIC SEPARATE
SCHOOL DISTRICT
NO. 22, Sask .—DEBENTURE
OFFERING.—-Proposals will be received
until 5 p. m. Sept. 1 by E. J.
Baker, Secy.-Treas. (P. O. Moose Jaw) for
$15,000 6% school completion debentures.
Due in 40 annual installments.
<
Canada, its Provinces and Municipalities.
ALDBOROUGH
[Vol.
WILFRED J. WORCESTER, Secretary
CHARLES A. EDWARDS, 2d Ami. Sacj
TRUSTEES
Alfred E. Foratall
JOHN A. STEWART, Chairman of tho Board
WILLIAM
ROCKEFELLER
LEWIS OASS LEDYABD
LYMAN J. GAGE
ALEXANDER E. ORR
WILLIAM H. MAOY JR
OHAUNOEY KEEP
GEORGE L. RIVES
M. KINGSLEY
STEWART TOD
OGDEN
MILLS
EGEKTON L. WINTHROP
CORNELIUS N. BLISS JR
HENRY W. St FOREST
ARTHUR OURTISS JAMES
ROBERT
WILLIAM
WILLIAM
PAYNE WHITNEY
EDWARD W. SHELDON
WILLIAM D. SLOAN®
FRANK LYMAN
JAMBS STILLMAN
JOHN OLAFLIN
JOHN J. PHELPS
.
I. GAMMELL
Charles D. Robtsea
FORSTALL AND ROBISON
KHGINEKR8
and
Appraisals
of
do
Electric Properties
for Owners
or
flwidt
Investigation*
HEW YOU ORI
84 William St..
The
Union
Trust
1864) has for
under
Will
Company
or
made
of
New- York
(established in
specialty of Personal Trusts—
under Agreement—and maintains a carefully or¬
many years
a
ganized department for handling them.
Many millions of dollars worth of property—real and
sonal—have
been
intrusted
to
the
company
by
aat
Inrtitutioas.
C. G. YOUNG
Engineering and Construction
Plan*, Metkoda, Examination
*
Paklic Utilities a»4 ladosftiali
per¬
REPORTS FOR FINANCING
conservative
Baal«raTlWit3Hdg., Haw York
people, residents not only of New York State but of other States
in
which
the
Union
Trust
Compand is authorized to transact
business.
Alton 8. Minor
Alex. O. Humphreys
HUMPHREYS & MILLER,Inc
Correspondence
or
interviews
with
persons
considering the
formation of trusts of any kind—for themselves or for others—
are solicited.
UNION TRUST COMPANY, 80 Broadway
CAPITAL and SURPLUS
$8,231,000
ENGINEERS
Power—Light—Gu
tM BROADWAY.
MINING
*
NEW YORK
ENGINEERS
o
o
H.
CHANCE
M.
& CO.
Mining Engineers and Geologists
CHICAGO
COAL AND MINERAL PROPERTIES
Examined,
Capital and Surplus,
$15,000,000
Pr»«l Bid,
Managed, Appraised
PHILADELPHIA, PA
.
MUNICIPAL AN0 RAILROAD
Pays Interest
on
Time Deposits, Current and Reserve Accounts©
Deals in Investment Securities and Foreign
Transacts
a
General
Trust
Exchangee
Business*
BONDS
LIST
ON APPLICATION
SEAS0NG00D &
MAYER
Iagails Building
CORRESPONDENCE
INVITED*
CIRCINNATI
"
@FedFRASER