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IN C LU D IN G
Bank and Quotation Section (Monthly)
Railway and Industrial Section (Q
uarterly)

State and City Section (semi-Annnaiiy)
Street Railway Section IftaS?®8
)

Entered according to Act of Congress, in the year 1904, by W i l l i a m B. D a n a C o m p a n y , in the office of Librarian of Congress, Washington, D. C
A weekly newspaper entered at P ost Office, New York, as second-class m atter—W il l i a m B. D a n a Co m p a n y , Publishers, 7

VOL. 79.

SATURDAY,

% \it

DECEMBER

10,

1904.

Clearings at —

1904.

F o r O ne Y e a r .................... ................................................................................ .......$ 1 0 00
F o r S ix M o n t h s ................................................................................................ ......... 6 00
E u rop ea n S u b s crip tio n (in c lu d in g p o s t a g e ).................................................. 13 00
E u r o p e a n S u b s c r ip tio n S ix M o n th s (in c lu d in g p o s t a g e ).......................
7 50
A n n u a l S u b s crip tio n in L o n d o n (in c lu d in g p o s t a g e ).............................. £ 2 1 4 s.
Six M on th s S u b s c r ip tio n in L o n d o n (in c lu d in g p o s t a g e )..................... £ 1 1 1 s .

S u b sw ip tion includes fo llow in g Sections—
B an k and Q u o ta tion (m o n th ly )
I St a t e a n d C it y (se m i-a n n u a lly )
B a il w a y a n d I n d u str ia l (q u a r te r ly ) | St r e e t B a il w a y (3 tim e s y e a r ly )

Terms of Advertising-— Per Inch Space
T r a n s ie n t m a tte r p e r in ch s p a ce (14 a g a te lin e s ).........
T w o M o n th s
(8 tim e s).
T h r e e M o n th s (1 3 tim es),
S ta n d in g B u s in e s s Cards
S ix M o n th s
(2 6 tim e s ).
T w e lv e M o n th s (52 tim es).

$ 4 20

22 00
29 00
50 00
87 00

C H I C A G O O F F I C E —P lin y B a r tle tt , 513 M o n a d n o c k B lo c k .
L O N D O N O F F I C E —E d w a r d s & S m ith , 1 D r a p e r s ’ G a rd e n s, E . C.

C O M P A N Y , JP u fc> lIsl*© rs,

Pine Street, Corner o f Pearl Street,
Post Office B ox 938,
N E W Y O R K .*

CLEARING ROUSE RETURNS.
The following table, made up by telegraph, etc., indicates
that the total bank clearings of all the clearing houses of the
United States for the week ending to-day, Dec. 10, have
been $3,274,214,294, against $3,365,554,749 last week and
$2,192,970,447 the corresponding week last year.
1904.

1903.

B o sto n .........................................................
P h ila d e lp h ia .............................................
B a ltim o r e ...................................... ...........
C h icago........................................................
St. L o u is......................................................
New O rlea n s...................................... .

§1,812,427,756
127,215,103
130,811,818
24,840,964
177,329,821
54,520,006
24,807,997

§1,094,381,556
108,938,258
88,225,157
17,614,228
151,422,261
48,215009
24,092,314

+65*6
+16*8
+57*2
4-41*0
4-17*1
4-131
4-3*0

S even cities, 5 clays..........................
Other cities, 5 d a y s..................... .

§2,351,953,465
346,987,642

§1,527,888,783
290,141,409

4-53*9
4-19*6

T o ta l all cities, 5 d a y s.....................
All cities, 1 d a y ...................................

§2.698,941,107
575,273,187

§1,818.030.192
374,940,255

4-48*5
4-53*4

T ota l all cities fo r w e e k .................

58,274,214,294

§2,192,970.447

4-49’S

P. Cent.

The full details for the week covered by the above will be
given next Saturday. W e cannot furnish them to-day, clear­
ings being made up by the clearing houses at noon on Satur­
day, and hence in the above the last day of the week has to
be in all cases estimated, as we go to press Friday night.
W e present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur­
day noon, Dec. 3, and the results for the corresponding
week in 1903, 1902 and 1901 are also given. Contrasted with
the week of 1903 the total for the whole country shows a gain
of 50*7 per cent. Outside of New York the increase over 1903
is 15*1 per cent.
Week ending December 3.
Clearings at—

New Yorlc...................
Philadelphia...............
Pittsburgh...................
Buffalo.............. . ........
Albany........................
Rochester........... ........
Scranton.....................
Syracuse.....................
Wilmington................
Wilkes Barre..............
Wheeling......... ........
Binghamton ...............
Qreensburg..................
Chester................
iFranklln, Pa..............
;Meading.....................
| Total Middle...... .

1904.

1903.

Inc. or
Dec.

1002.

Inc. or
Dec

1902.

1901.

161,368.445
7,219,300
3,007.418
2,174,696
1,593,059
1,259,018
1,692.566
728,485
463,428
625,499
627.935
180,759,849

8
132,615.048
8.117,600
2,576,680
1.819,777
1,722,609
1,019,492
1,634 827
1,100,556
432,201
693,951
573.324
152,306,085

D,
,r
+21-7
—I l l
+16*7
+14-0
—7*5
+23 5
+3*o
—33*8
+7 2
-9 9
+9*4
+ 12-1

8
140,609,113
7,404.200
2.059.492
1,896,524
1.665,226
1 982,855
1,512,233
1,019.700
549,358
468.649
409317
159.576.662

C h ic a g o ........................

Terms of Subscription— Payable in Advance

New Y ork ....................................................

1903.

B o s t o n .........................
P r o v id e n c e .......... .
H a r t fo r d .......................
New H a v e n - ................
S p rin g fie ld ...................
W o r c e s te r .....................
P o rtla n d ........................
Fall R iv e r .....................
L o w e ll...........................
N ew B e d fo r d ................
H o ly o k e .........................
T o ta l N ew E ngland.

D a y t o n ..........................
E v a n s v ille ...................
A k ro n ............................ .
Springfield, 111.............
Y ou n gstow n . . . . . . . . . .
K a la m a z o o ................. .
L e x i n g t o n ...................
C an ton ............................
R o c k f o r d .......................
SpringflelcL O.......... .
B lo o m in g t o n ............
Q u in cy ...........................
D eca tu r.........T
_______ _
M a n s fie ld .....................
J a c k s o n v ille ................
J a c k s o n _____ _ . . . . .
_
A n n A r b o r ...................
T o ta l M id. W e ste rn

195,753.394
25,805,450
16,082.922
10,733,181
8,676.302
6,398.902
4,741,100
8,375.718
3,978.034
2,067,114
1,704,705
1,449,538
643,000
748 580
595,068
985,580
828.930
547.720
403.543
366.342
443,326
339 512
330,596
202,131
237.675
242,713
122,100
287,803,176

185 392,341
24,254,000
14,594,408
10,338,203
8,739.838
7,055*098
4,522,000
3.633.091
3,615.772
1,987.934
l,760,5Su
1,413,306
60S,400
891,792
655,187
1,306,524
701,176
589,041
367,402
339,408
336.749
381.974
323.395
282,060
215,561
221,565
123,473
274,713.278

+5-6
+6*4
+ 10*2
+3*8
—0-7
-9 *3
+4*8
-7 -1
+10*0
i-4*0
-3 * 2
+2*5
—3*8
-16*0
—9*2
—2 46
+ 18*2
-7 - 1
+9*8
+79
+3L*8
-11*0
+2*2
—28*4
+10*2
+9*5
—1*1
+4*8

182,984,021
22,634.450
14.828,742
11.734.198
8,620,709
6,996.100
5,242.650
3.495.6U3
3,559,465
1,888,828
1,805.696
1,009,007
778.U00
671,510
642,434
601.826
737,849
416,208
338,981
410.874
385.510
310,164
258,063
211,503
178,068
180,657
135,465
271,116 576

190.773.164
20 504,200
15.709,641
15,264,069
8,236,210
5,479.219
4,305,750
3,120.246
3,122,935
1,837.787
1,456,846
897.509
745,200
663,900
659,246
549 140
670.016
376.514
299.546
368,610
353,880
283,728

San F r a n c is c o ......... ..
L o s A n g e le s ................
S e a ttle ............................
Salt L ake C ity..........
P o rtla n d ........................
S p o k a n e ........................
T a com a .........................
H e l e n a ..........................
F a rgo...............................
S iou x F a lls...................
T o ta l P a cific.............

36,706.014
8.908.309
4,887.539
5,635.806
4,550.000
2,924.503
3,0(58,584
845.524
781,279
323,908
08,631,466

38,438.003
-4 * 5
7,064,831 +26'1
4,750.000 +28-8
4,439.773 +26 9
4,050.000 + 1 2 3
2.553.664 +14*5
2,026.839 +51*4
1,079.998 —21*7
934,102 — 16 4
890.819 -17*1
65,728.029
-{-4*4

33,548,891
5,680,208
4,873.858
4,785.062
4,084.175
2.464.340
2,230,710
725.256
894,013
314.458
59,606,971

25,344.484
4,209.151
3,070.670
4,495,082
3,175,300
1,779,0S3
1,2(30,582
697,387
681 388
319.024
45,032,091

K ansas C i t y . ......... ..
M in n e a p o lis ................
O m aha............................
St. P a u l............ ...........
St. J o s e p h ...................
D e n v e r ....................... .
D es M o in e s...................
S iou x C ity .....................
T o p e k a ................ .........
D a v e n p o r t...................
W ich ita ..........................
C olora d o Springs____
F r e m o n t .......................
C edar R a pid s......... . . .
T o ta l o th e r W e s t’rn

24,706,759
21.151,765
26.698,270
22,235,094
8,215.954
8,243,2(54
7,679,328
7,347,550
4,147.424
5,057,850
6,197,912
5,072,692
2,549.312
2,396,736
1,451 422
1,756.261
964,827
1,596,95!
933,451
1,028.446
1,054,550
758,982
612.097
484 358
220,000
148.138
450,984 N ot in clu d e
80,521,305
76,788,788

20,955,400
+16*8
19,864,059
+20*1
+0*3
7,161,115
7,715,710
+4*5
+21*9
4,278,493
+93
4.636,030
2,621,682
—6 0
1,708,547
+21*0
1,621,591
-39*6
—9*2
1,217.983
+39*0
834.500
394,028
+26*4
174,834
+48*5
d in to tal.
73,179 038
+12*7

21,651,786
21 075.697
7,297,140
7,531,562
6,376,990
5.132,677
1,917,975
1,717,702
1,462.319
1,630.700
759,083
935,973
258,900

St. L o u is.........................
N ew O rle a n s................
L o u is v ille ....................
H o u sto n .......................
G a lv e s to n .....................
R ich m o n d ......................
S a v a n n a h ............. .......
M e m p h is .......................
A tla n ta ....................... ..
N a sh v ille ......... .............
N o r fo lk ..................... .
F ort W o r th ...................
B ir m in g h a m ................
K n o x v ille .....................
A u g u s ta .........................
L ittle R o c k ...................
C harleston
M a co n ............................

59.236,933
56,833.404
26,475,864
25,992,168
12,581,023
11,983,024
8,695.359
11,126,882
(5,448,000
5,845.000
4,729.186
6,118,314
6,163,836
4.081,288
7,125,429
G. 633,579
4,059.149
3,636,698
2,416.978
3,110,554
2,292,834
2,008,012
2,077,208
2,603.151
1,520,542
2,020,511
1.239.167
1,361.256
1,857,721
2*098,018
1,447.534
1,309,447
1,418,694
1,127,081
1,107,000
662,551
850,090
940,148
W eek ly flgu res n o t aval
915,954
745 213
337,106 N ot In clu de
155,241,384 148,157,926
3,365,554,749 2,282,995,560
1,066,508,706 926,603,042

PUBLISHED W E E K L Y .

Clearings—Returns uy Telegraph,
Week Ending December 10.

NO. 2059.
Week ending December 3

© h r o m c le .

W IIiliB A M B . M N A

Pi ne St., N. Y.

190L

$
%
S
§
§
2,299,046.013 1,306,392,524 + 7 6 0 1,471,616,451 1,540,898.651
173 820,543 120,103.251 +44*7 125,569,343 117,437,213
30,253,276 +37*1
49,686,658
38.750,047
41,988,391
33.606,831
23,777,662 4-41*3
26,260,889
24,012,275
7.(379,770
8,035.438 —4*4
6.854,893
6,824,589
5,404,000
4,599.110 + 17*5
4,299.318
3,704,879
4,847.421
3,920,941 4-23*6
3,489.956
5,530.315
3,850,587
3,237,047 4-18-9
2,850,628
3,001.543
2,057,410
2,251,700 -8*6
1.589,145
1,614.424
1,453.192
1,513,940 - 4 0
1,335,458
1,39X335
1,103.513
1,235.035 —10*7
1,307,671
1,038.824
1,039.560
970.101
+71
938,478
1,001,314
856.708
928.974 -7 -8
818.423
672.885
445 900
422.200 +5*0
434.700
366.200
411 392
456,079 —9*9
516.062
401,579
430 978
424,244
+1*0
405,817
330,209
620,451
509,786 +21*8
236,483
269.586 -12*2
1,150 576 Not include d in to tal.
1,515.301,460 +707 1.087,100,115 1,750,137,730

C le v e la n d .....................
D e t r o it ..........................
M ilw aukee ......... .
In dian ap olis..................
C olu m bu s.......................
T o le d o ............................
P e o r ia ............................

C hattan ooga...............

B e a u m o n t....................
J a c k s o n v ille ................
C olu m bu s, G a ..............
T o ta l S o u th e r n .......
T ota l a l l ................. ..
O u tsid e N ew Y o rk . .

139,037,004
6,970.800
2,980,099
1,7-48,981
1,568.749
1.697.777
1,536,626
1,076,818
648,346
619.674
354,849
158,233,7 53

65.000
226,868
151.659
104.309
276,143,192

77,748,516

49,529,077
59,209.232
+4*2
18,104.200
18,125,313
—1 8
10.457,913
11.758.020
+ 5*0
7,415,767
7,921.430
-2 1 8
4,991.500
5,600.500
+10-3
4,036,073
4,773,702
+29-4
4.489,105
4,495.624
+5L0
4.202.333
6,103.892
+ 7 ‘4
3,341,362
3,440.944
+ 11*6
1.96S.959
2,214,538
+38*7
1,681793
1,996,553
+ 14-1
1,584,879
1,001.078
+2*8
1.272,343
1,343.270
+32*4
774,171
850,356
-9 * 0
1,916,524
1,439,785
+12*9
1,063,803
1,288,278
+10*5
+25*8
979,000
973,000
-4 0 2
585,058
050,000
+ 106
labie.
442,782
360,586
+22*8
d in to ral.
+4*8 124.495.309 128,538.500
+50*7 2.875,070,731 2.435.833.782
+ 15*1 903,458,280 894,935.131

Ca n a d a —
M o n tr e a l.......................
T o r o n t o ........................
W innipeg .......................
H a lifa x ..........................
O ttaw a............................
Q u e b e c ..........................
V a n c o u v e r ....................
H a m ilto n ......................
St. J o h n .........................
L on d on . . . . ,
V ic t o r i a ........................
T o ta l C a n a d a ...........

26,726,638
23,300,700
9.201 872
1,823,436
2,063,883
1,577.378

1,451.668

1,495.708
1,057.673
1,000,000
760,700
70,459,068

21,201,737
17,423.158
7,255,855
1,951,385
2,220,301
1,603,808
1,361,721
1,254,843
994.291
1,044.504
774,692
57,200,245

+25*7
+33*7
+26*8
—0-6
—7*1
—5*2
4-6*0
+19*2
+6*8
—4*3
—1*8
+23*2

20,013,531
10,603,181
5,840.316
2,026.898
2.034.676
3,756.053
1.007.169
1,110,773
974.701
049.816
038,778
52,962,487

19,664,478
10,513,034
5.890.897
2.075,000
2,189,475
1.920,807
1,123,201
1,086,339
940.740
401,078
51,871,770

2606

THE CHRONICLE

TH E F IN A N C IA L S IT U A T IO N .
The assembling o f Congress for its short session and
the delivery of the President’s Message, with the accom­
panying Department reports, cover the most notable event
of the week. It hardly needs to be said that business
interests have as a rule received with favor the usual
annual message. No other conclusion would be reason­
able. The vote of the country expressed so recently
and so emphatically confidence in the President’s views
and policies that to assume any different reception by
the public for that document would be impossible. A nd
yet we note many outspoken criticisms respecting
the President’s reference to the amendment of the
Inter-State Commerce A ct. It is claimed that he
advocates, in the message, giving to the Commissioners
the authority to fix railroad rates. That is an
assumption warranted only when omitting portions of
what the President says. To be sure, he does appear at
first sight in one paragraph to assert some such view ;
but he appears afterwards pretty clearly to negative that
suggestion or to modify it materially; for he adds that
“ being of the opinion that at present it would be unde­
sirable i f it were not impracticable finally to clothe the
Commission with general authority to fix railroad rates,”
yet “ I do believe that as a fair security to shippers the
Commission should be vested with the power * * *
to decide, subject to judicial review , what shall be a rea­
sonable rate,” etc. That exception covers the whole
matter which has been all along under discussion and at
issue whether the power to be granted should he u sub­
ject to judicial review ” or should be enforced on the ipse
dixit of the Commission, whether just or unjust.
A noteworthy featufe of the meeting of Congress on
this occasion, as distinguished from many similar occa­
sions in previous years, is the lack of disturbing influence
felt from anticipated legislation. The question already
referred to of amending the Inter-State Commerce Law
is the only one which has developed so far. I f that
proposal should be advanced until its success looked
likely, it might prove ominous. Nothing can be done or
seriously attempted, the tendency of which is to under­
mine confidence in the value of railroad property, without
working general detriment to affairs. O f course a
statute unexecuted might be harmless except for the fear
o f execution which would be constant. W e pass that,
because we do not believe any such revolutionary policy
will be entered upon by the Senate, especially at this
short session. That body is conservative enough to take
a longer time to think before the introduction of indus­
trial chaos again.
The decided reaction in the cotton market, during
recent weeks in progress, culminated Saturday last in a
decided break in the speculation which has ruled prices
for between two and three years. This outcome has been
brought about by a growing conviction that the current
crop was underestimated, and hence by a gradual rise in
estimates confirmed, first, by the Ginners’ Census Depart­
ment’ s Deport and last Saturday (Dec. 3) by the A gri­
cultural Department’s estimate indicating a yield of 12,162,000 bales. Such official forecasts were not only de­
pressing in themselves, but further than that they led to
a fear that the crop might be materially more than the
largest of those estimates. In the first place, the A gri­
cultural Department’ s figures did not include linters,
which cannot be added until the end of the year, when

| V OL. L2LX1X.

the cotton-seed mills issue their returns. Moreover,
fear of a larger crop than even the estimates disclosed
was a natural sequence o f the fact that only a very short
time had elapsed since so much smaller estimates than
now had been current; this made operators and consum­
ers timid less the supply should turn out an unknown
amount larger than was at present accepted. Such an
idea found some basis in the increased acreage, which all
acreage reports issued in June 1901, indicated. Such a
situation would perforce of its own momentum run into
a panicky state which would be apt to discount a larger
supply for the market to absorb than could be spun.
On the occasion of a crisis like the present there always
are mitigating circumstances making the situation more
tolerable to the producer than the foregoing would in­
dicate— circumstances which should not be omitted from
the calculation. Beyond doubt more cotton will be con­
sumed in Europe and America with the price at 7 to 8
cents per pound than at 11 to 13 cents. In other words,
as the price of the raw material declines cotton
consumption will increase. The converse has been
proved the last few years; instead of a growth
in consumption during those years, as there ought to have
been had consumption continued normal, a gradual
though small falling off in the world’s consumption has
taken place. Finally, experience teaches that the world’s
needs can never be supplied from the United States at
the price ruling during the years immediately following
the large crops in 1897-98 and 1898-99. W e have pre­
pared the following statement, which discloses the whole
situation.
B A L E S O F 500 L B S . N E T W E I G H T .
W o r ld ’s H i g h .
V. S.
C rop .
C o n s u m p tio n .
C.
S ea son .
9 ,4 8 1 ,6 7 1 1 3 ,8 5 9 ,5 3 6 1 6-87
1 9 0 3 -1 9 0 4 . . . .
1 9 0 2 -1 9 0 3 . . . . 1 0 ,5 1 1 ,0 2 0 1 4 ,3 6 3 ,9 8 1 13-12
9^
1 9 0 1 -1 9 0 2 . . . . 1 0 ,3 8 0 ,3 8 0 1 4 ,4 1 4 ,9 0 8
1 9 0 0 -1 9 0 1 . . . . 1 0 ,2 1 8 ,0 0 0 1 3 ,4 1 5 ,9 1 6 11*16
1 3 ,7 7 2 ,7 7 2
9 ,1 3 7 ,0 0 0
1 8 9 9 -1 9 0 0 . . . .
51316
G1
^
1 8 9 8 -1 8 9 9 . . . . 1 1 ,0 7 8 ,0 0 0 1 4 ,0 1 4 ,7 2 8
1 8 9 7 -1 8 9 8 . . . . 1 0 ,8 9 0 ,0 0 0 1 2 ,8 8 8 ,7 6 8
7he
8 ,4 3 6 ,0 0 0 1 1 ,8 8 0 ,3 3 2
8*2
1 8 9 6 -1 8 9 7 . . . .
6 ,9 1 2 ,0 0 0 1 1 ,0 0 5 ,0 0 0
1 8 9 5 -1 8 9 6 . . . .
8 ^ ia
1 1 ,5 4 3 ,0 0 0
9 ,6 4 0 ,0 0 0
1 8 9 4 -1 8 9 5 . . .
7 34
7 ,1 3 6 ,0 0 0 1 0 ,5 8 0 ,0 0 0
8^8
1 8 9 3 -1 8 9 4 . . . .
6 ,4 3 5 ,0 0 0 1 0 ,2 9 1 ,0 0 0
1 8 9 2 -1 8 9 3 . . . .
9*18
1 8 9 1 -1 8 9 2 . . . .
8 ,6 4 0 ,0 0 0 1 0 ,5 6 5 ,0 0 0
8 '! 16
8 ,1 3 7 ,0 0 0 1 0 ,5 1 1 ,0 0 0 10*16
1 8 9 0 -1 8 9 1 . . .
9 ,7 9 5 ,0 0 0 12=18
..
6 ,8 2 0 ,0 0 0
1 8 8 9 -1 8 9 0 .
9 ,2 6 7 ,0 0 0 l l l ie
6 ,4 6 3 ,0 0 0
1 8 8 8 -1 8 8 9 . . . .
8 ,8 9 1 ,0 0 0 1 0 i s ia
6 ,4 0 0 ,0 0 0
1 8 8 7 -1 8 8 8 . . .
8 ,5 0 5 ,0 0 0 l l H a
1 8 3 6 -1 8 8 7 . . .
5 ,9 0 0 ,0 0 0
8 ,1 2 0 ,0 0 0
5 ,9 8 4 ,0 0 0
1 8 8 5 -1 8 8 6 . . .
9 1Ble
7 ,4 4 4 ,0 0 0 111«16
..
5 ,1 3 6 ,0 0 0
1 8 8 4 -1 8 8 5 .
7 ,9 4 0 ,0 0 0 l l 9is
5 ,1 8 8 ,0 0 0
1 8 8 3 -1 8 8 4 . . . .
8 ,0 0 0 ,0 0 0 1 2 916
6 .4 4 6 ,0 0 0
1 8 8 2 -1 8 8 3 . . .
7 ,6 0 0 ,0 0 0 12*4
4 ,8 5 8 ,0 0 0
1 8 8 1 -1 S 3 2 . . .
6 .0 1 5 .0 0 0
7 ,2 7 5 ,0 0 0 12=18
1 8 8 0 -1 8 8 1 . . .
6 ,7 5 0 ,0 0 0 13h)
5 ,2 4 5 ,0 0 0
1 8 7 9 -1 8 8 0 . .
6 ,0 2 5 ,0 0 0 13718
4 .5 1 0 ,0 0 0
1 8 7 8 -1 8 7 9 . . .
6 ,0 0 0 ,0 0 0 111=18
4 ,3 4 0 ,0 0 0
1 8 7 7 -1 8 7 8 . . .

L ow .
c.
9 -12
7-92
7%
79ie
5 1318
4 78
5 =16
6 u i8
6H i 8
5>s
6 718
6=8
6U
7*8
9*4
9*8

9116
8=8
8%
9=8
9 34
9^a
llh e
9 H l6
lO h a
8 719
9 7s

A v ’ ge.
c.
1 2 -2 0

S ea son.
. ...1 9 0 3 -1 9 0 4
. ...1 9 0 2 -1 9 0 3
8>316 . ...1 9 0 1 -1 9 0 2
...1 9 0 0 -1 9 0 1
8 13ie
3 U 16 - ...1 8 9 9 -1 9 0 0
...1 8 9 8 -1 8 9 9
5*16
...1 8 9 7 -1 8 9 8
51316
...1 8 9 6 -1 S 9 7
''’ =16
7*4
- . .1 8 9 5 -1 8 9 6
6
..1 8 9 4 -1 8 9 5
...1 8 9 3 -1 8 9 4
714
8
...1 8 9 2 -1 8 9 3
...1 8 9 1 -1 8 3 2
714
9 -8 8

8=8
1013le
10
91318
9^
9
10=16
10=8
10*8
11=4
101316
11=4
1 0 7ie
1 0 ia i s

...1 8 9 0 -1 8 9 1
. ...1 8 8 9 -1 8 9 0
...1 8 8 8 -1 8 8 9
- ...1 8 8 7 -1 8 8 8
. ...1 8 8 6 .1 8 8 7
...1 8 8 5 -1 8 8 6
. ...1 8 8 4 -1 8 8 5
. ...1 8 8 3 -1 8 8 4
...1 8 8 2 -1 8 8 3
...1 8 8 1 -1 8 8 2
. ...1 8 8 0 -1 8 8 1
...1 8 7 9 -1 8 8 0
. ...1 8 7 8 -1 8 7 9
. ...1 8 7 7 -1 8 7 8

The needs o f the cotton-spinning industry demand a con­
tinuous enlargement in the supply of the raw material.
To secure such enlargement greater inducement in price
will be needed than prevailed prior to the recent specu­
lative movement. There lias been no labor-saving
machinery invented which has, within the years named
in the foregoing compilation, reduced the cost o f raising
and putting in marketable shape a bale o f cotton. On
the other hand there are important items that enter into
and go to make up that cost which are dearer and in­
creasingly so. One of these is that the land is getting
poorer and more widely in need of fertilizing. A still
more important factor is labor, which, as factories and
foundries become more numerous and productions more
diversified, increases in demand and consequently in
value. W ithout mentioning other additions to the plant-

D e o . 1 0 , 1904.J

THE CHRONICLE.

2607

Coal-mining, nevertheless, is progressing at about the
normal rate, the companies having filled the places of
the strikers with non-union men.
W ith these matters out of the way the political situa­
tion in Colorado has latterly been causing much uneasi­
ness. A contest is going on over the result of the gu­
bernatorial election. Governor Peabody has made such
an excellent executive, and has proven himself such a
stern foe of lawlessness, we had hoped he would not
only be re-elected, but succeed in obtaining a very large
majority. Unfortunately, this has not been the case.
His opponent, A lva Adams, appears to have succeeded
in obtaining much the larger number of votes. Mr.
Peabody’ s supporters, however, are contesting the result.
Charges of fraud have been made and the votes in
certain districts have been re-counted.
Altogether,
A characteristic development disturbed W all Street much ill-feeling and animosity has grown up. There
affairs in some measure Wednesday and more seriously seems to be no objection to Mr. Adams aside from the
Thursday. The embarrassment was the natural product fact that he was the opposing candidate to such an excel­
of speculative surroundings, stirred up and thrown into lent executive as Governor Peabody, and those who
confusion by a Boston operator who delights to play know him well feel confident that the interests of the
upon public credulity when he thinks the explosive State would be safe in his hands. Under such circum­
constituents have become sufficiently top heavy or other­ stances would it not be well to accept the public verdict?
wise surcharged with sensitive elements to respond The Legislature of the State is strongly Republican
readily to his sort of tactics. He always deals with and will have it in its power to seat Governor Peabody.
forceful names, and uses, as the most vulnerable property But it would be decidedly unfortunate if any such course
for attack, copper, about which but very few facts are should be adopted. Such action (unless indeed there are
obtainable since the monthly statements o f production circumstances in the case with which we at this end are
have been stopped. On the present occasion that operator not familiar) could only tend to intensify the existing
also sought to excite the fears of the public by quoting bitterness and strife. W hat Colorado needs above every­
from and unfavorably interpreting the President’s re­ thing else, after its prolonged state o f business upheaval,
marks made in his message respecting enlarging the is a period of industrial peace— a degree of stability
powers of the Inter-State Commerce Commission, to which will permit industrial affairs to resume their nor­
which we have referred and given a more quieting and mal course, free from the disturbing agencies which have
less aggre ssive interpretation above. W e are persuaded unsettled things the last fifteen months. W e trust that
the President never intended to favor the harsher view the business men of Colorado, irrespective of party affili­
some have given to his recommendations. Yesterday, ations, will get together and make their influence felt, to
as the day progressed, prices further recovered, and af­ the end that the political differences which have arisen
may be composed and the good reputation of the State
fairs assumed a more normal state.
be restored. A ny other course will be detrimental to
W e referred last week to the action of the Western the State itself and prejudicial to the interests of the
Federation of Miners in officially terminating the ore entire population.
miners’ strike in Colorado, which had been in progress
•
since September 1 of last year. The present week some
The revival in the iron and steel industry continues to
news d ispatches have appeared in the daily papers which make steady progress, and there is no abatement of the
suggested that possibly the strike had not after all been feeling of buoyancy which has existed in recent weeks.
“ called off.” On investigation, however, we learn that Perhaps the best indication of the activity prevailing is
our report was correct and that the strike has been furnished in the fact that the larger companies are sup­
definitely brought to a close. A s stated by us last week, plementing their own product with purchases in the out­
the matter is of importance chiefly because it indicates side market. Indeed, there seems to be some competition
that the last vestige of this prolonged mining trouble has for these outside supplies. Early in the week it was
passed away, and the event is of more consequence to the reported that the Republic Iron & Steel Co. had
striking unionists than to the mine-owners, who had in contracted for the product of several large furnaces
fact succeeded in working their mines without union men. for the year 1905 and yesterday a Pittsburgh dis­
The claim of the Federation of Miners that the issues patch was published in the daily papers saying that
involved have been conceded by the mine-owners and the United States Steel Corporation had contracted
operators, since the latter have inaugurated an eight- for the purchase of the untaken Bessemer pig iron
hour day, is declared not to be well founded. W e are in­ capacity of the independent furnaces of the Valleys for
formed that the matter of an eight-hour day and a mini­ December and for the first quarter of the coming year.
mum wage scale of $3 per day the mine-owners had long The amount of iron involved is stated to be over 40,000
been willing to concede. There were, however, a num­ tons. Such purchases by the Steel Corporation are im­
ber of other demands made by the strikers on which the portant as showing that the Corporation’s make of iron by
mine-owners were unwilling to yield and have not its own furnaces is no longer sufficient to supply its
yielded, one of these being the recognition of the Union. wants. The monthly statement issued this week by the
It is proper to say that the other strike which has also “ Iron A g e ” also reflects the activity and urgency of the
been in progress in Colorado so long, namely that in the j demand for iron. Our contemporary reports that the
coal-mining districts, has not yet been officially settled. *capacity of the pig-iron furnaces was very consider-

er’s expense account, we have suggested enough with the
help of above figures to illustrate the situation. Let the
eye follow the columns in the above table showing the
recent growth in cotton consumption, the American
product in the same years and the average price of mid­
dling cotton in New York each twelve months. Note
the constant progress in the decline in the market price
o f the staple, showing that the higher prices were not
in their early stages so entirely speculative as has been
often claimed. Consumption, we repeat, was increasing
rapidly, while the tendency of production until the cur­
rent year was towards lower figures. It was, conse­
quently, out of the world’s necessities and the specu­
lative prices ruling that the enlarged product now being
marketed has been reached.

2 (> 0 S

THE CHRONICLE.

ably increased during November and that further ad­
ditions liavo since takeu place or are in prepara­
tion. The quantity of iron made in November, a
month of 30 days, was 1,480,002 tons, as against
1,450,401 tons in October, a month with 31 days. In
July and August the output was respectively only
1,100,207 tons and 1,107,072 tons. Furthermore, the
“ A ge’s” report shows that while on November 1 the
capacity of the furnaces in blast was 334,000 tons per
week, on December 1 the capacity was 357,000 tons per
week. Since then further additions have been made, as
already stated. The most noteworthy feature of all is
that with production being steadily enlarged the total of
the stocks o f iron on hand by the merchant or outside
furnaces is being steadily reduced. On December 1
these stocks aggregated only 449,456 tons, against 555,447 tons October 1 and 670,340 tons August 1.
A n event of the week in railroad circles has been the
declaration of an extra dividend of 10 per cent on the
stock o f the Delaware Lackawanna & Western Railroad
Co. This company is enjoying exceptional prosperity
under the management of President Trues dale. It is
commonly referred to as an anthracite road, and it is a
large anthracite carrier; but the truth is that it occupies a
much broader field. The northern terminus of the road
is at Oswego and the western terminus at Buffalo,
and thus it may be called one of the East-and-West
trunk lines. Under Mr. Truesdale’s administration
the through traffic has been carefully nurtured and
care has also been taken to develop the local traffic, both
passenger and freight. Enormous amounts have been
spent in the reconstruction of the road the last few years,
so as to enable it to handle a steadily increasing amount
of business, and also so as to permit of greater economy
in operations. The fruits o f these outlays and expendi­
tures are reflected in the great growth which has
occurred in the income o f the company, gross
and net.
The
share
capital
o f the company
is very small for a property o f this magnitude, being
only $26,200,000, all attempts to increase it having been
resisted. On this small capital dividends of 7 per cent
per annum have been paid since 18&6, and through all
the recent years of prosperity no addition to the regular
rate of payment has been made. A s showing the general
position of the company as regards income, it is only
necessary to say that while in the calendar year 1903
but $1,834,000 was distributed in dividends, no less than
$4,319,166 was paid out of income for renewals and
betterments, and even then a surplus remained on the
operations of the twelve months in the sum o f $4,251,238. The 10 per cent extra dividend just declared will
call for only $2,620,000.
The peculiar situation existing in the wheat trade at
the present time as a result of the high prices prevailing
iu this country— artificially high, as it seems to us— is
illustrated in the circumstance that United States millers
are buying back American wheat previously sent abroad.
The “ Journal of Commerce and Commercial B ulletin”
of this city on Wednesday of this week announced that
40,000 bushels of American wheat now at A n t­
werp are to be re-imported into this country by
McLaren & Muir.
The terms of the purchase
are not given. It is stated, however, that the
wheat in question was exported from the Pacific Coast
some time ago, and as its identity has been preserved, it
\

i

V O L . L X X IX .

will be possible to bring it back to this country without
paying duties. United States millers are finding great
difficulty in getting supplies of wheat of the proper grade
at satisfactory prices, aud it is to be hoped that the Treasury
Department will extend all the relief allowed by the law
in permitting imports from Canada for manufacture into
flour and its subsequent exportation without the payment
of the onerous duty of 25 cents a bushel imposed under
our Customs laws on wheat coming from foreign coun­
tries. Secretary Shaw, it is understood, has been giving
careful consideration to the pending application for al­
lowances of drawback on the exportation of flour man­
ufactured from imported wheat, and his decision is not
expected to be further delayed. A ccording to all ac­
counts, his action will be as favorable to milling interests
as the provisions of the law allow.
The statement of the New York Associated Banks last
week showed, as the most interesting features, a further
contraction in loans of $11,818,000, a net loss of $3,925,900 in cash and a decrease of $16,334,400 in deposits.
The surplus reserve was increased by $157,700 to $8,539,075. The bank statement of this week should reflect,
among other items, the transfer, through the Treasury, of
$1,500,000 to San Francisco, reported to be for the
movement o f the fruit crops, transfers of $500,000 to
New Orleans and the withdrawal of $2,000,000 for ship­
ment abroad, half o f which latter sum went forward
on Tuesday and the remainder to-day (Saturday).
This
will make total exports o f gold to Europe since October
26 $17,256,087.
Money on call, representing bankers’ balances, loaned
at the Stock Exchange during the week at 5 per cent
and at 2 per cent, averaging about 3 f per cent. Banks
and trust companies loaned at 3£ per cent as the mini­
mum. On Monday loans were at 3£ per cent and at 3
per cent, with the bulk o f the business at 3^ per cent.
On Tuesday transactions were at 3^ per cent and at 2£
per cent, with the majority at 3J per cent. On W ednes­
day, influenced by the shifting in loans incident to the
unsettling fall in the stock market, money temporarily
loaned at 4£ per cent in the afternoon: the lowest rate
was 3^ per cent, and the bulb of the business was at 3J
per cent. On Thursday, owing to the demoralizing fall
in securities which caused calling of loans and discrim­
ination against collateral, the rate advanced to 5 per
cent; the majority of the loans were at 4 per cent, which
was the lowest rate. On Friday transactions were at 4J
per cent and at 2 per cent, with the principal business at 3£
per cent. There was a much better supply o f money offer­
ing for short time, on good mixed Stock Exchange col­
lateral, than has recently been the case, and some thirtyday loans were placed at 34 per cent. Rates for sixty to
ninety days were quoted at Sf'Sd per cent and those for
four to six months at 4 per cent. Commercial paper
was in good demand with only moderate offerings, and
rates were 4-J®44 per cent for sixty to ninety-day en! dorsed bills receivable, 4 J @ 4 f for prime and 5®5J for
good four to six months’ single names.
The Bank of England minimum rate of discount remains
unchanged at 3 per cent. The cable reports discounts o f
sixty to ninety day bank bills in London 2§© 3 per cent.
The open market rate at Paris is 2§ per cent and at
Berlin and Frankfort it is 4,SI per cent. According to
4£
our special cable from London, the Bank o f England

D e o . 10, 1904.]

2609

THE CHRONICLE.

The following shows daily posted rates for exchange by
lost £664,506 bullion during the week and held £31,-1
some of the leading drawers.
885,713 at the close of the week. Our correspondent
D A I L Y P O S T E D K A T E S F O R F O R E IG N E X C H A N G E .
farther advises us that the loss was due to exports of
£222,000 (of which £72,000 to South America and
F R I..
M o n ., T u b s ., W e d .. T h u r ., F r i .,
D ec. 2. D ec. 5. Dec. 6. Dec. 1. D ec. 8. D ec. 0.
£150,000 to Egypt), and to shipments of £443,000 net
( 60 days 4 84}£
8434
8434
8434
B row n
8434
87
87
87
87
87
B r o t h e r s ......... ( S ig h t .. 4 8 7^
to the interior of Great Britain.
(6 0 days
B aring,
M a g ou n & Co. (S i g h t ..

4 84J4
4 873|

8434
8734

8434
8734

8434
8734

8434
8734

8434.
87

4 84*g
8434
8434
8434
B ritish
8434
8434
After a sharp fall in the foreign exchange market on B ank A m e r ic a .. i(6S0igdays 4 873*
87
87
87
87
h t ..
8734
N o.
4 8434
8434
8434
(6
8434
8434
8434
k f
Monday, due to offerings of bankers’ bills against secur­ B a no notr e a l......... ( S0 gdays 4 873^
i h t ..
8734
8734
8734
8734
8734
M
8434
84*4
60
8434
8434
8434
Bank
ities which have been placed on the Continent, but chiefly C anadianm erce. (i S i gdays 4 8434
h t . . 4 87J4
8734
8734
8734
8734
o f C om
8734
8434
H e id e lb a ch .Ick - (6 0 days 4 8434
8434
8434
8434
8434
to expectations of a liberal supply of commercial drafts eih e im e r& C o . ( S ig h t .. 4 8734
87
87
87
87
87
8434
8434
8434
8434
8434
against cotton as the result of the decline in the price of L azaerde s .............. 5 60gdays 4 8434
87
87
87
87
87
(S i h t .. 4 8734
Fr r
8434
8434
60
8434
erch a n ts’
8434
8434
the staple, which should encourage exports, the market Mo f Canada.B k. j( S i gdays 4 8434
h t . . 4 8734
8734
8734
8734
8734
8734
partially recovered on Tuesday, when there was good
The following gives the week’s movements of money
buying to remit for the semi-annual settlements. The
tone was steady on Wednesday, but on the following to and from the interior by the Hew York banks.
day there was an unsettling fall all around, caused by
N et In ter io r
Shipped by
R eceived by
W eek ending D ee. 9, 1904.
M ovem ent.
N. Y . B anks. N. Y . Banks.
the higher rates for money, and the market was active
to the close of the week. The announcement on Monday ] C u rren cy ................... .......................... §6,965,000 $4,393,000 G ain. $2,572,000
708,000
G ain.
259,000
967,000
G o ld ................ ..........................................
of the engagement of $1,000,000 gold bars for export on
$5,101,000
G ain. $2,831,000
$7,982,000
T o t a l g o ld and leg a l t e n d e r s . . ..
the following day to Europe caused surprise, for
W ith the Sub-Treasury operations and gold exports
calculations showed that even if the consignees
the result is as follows.
at
Berlin, which was understood to
be the
I n to
O at o f
N e t Change in
W eek ending Dec. 9, 1904.
destination of the gold, had offered, as an inducement
Banks.
B ank Holdings. ;
Banks.
for the shipment, to allow interest on the consignment Banks in terior m o v e m e n t as a b ov e $7,932,000 $5,101,000 G ain. $2,831,000
while it was in transit, the export would most likely be Snb-T reas. op er. a n d g o ld ex p orts.. 24,250,000 29,750,000 L oss. 5,500,000
34,851,000
L oss. $2,669,000’
T ota l g o ld and lega l ten d ers .. . $32,182,000
made at a loss to the shipper. The consignors refused
The following table indicates the amount of bullion in
to disclose the destination of the gold, for business rea­
sons. On Wednesday, when a further sum of $1,000,000 the principal European banks.
was engaged for shipment on Saturday (to-day), the fact
Decem ber 8, 1904.
Decem ber 10, 1903.
Batik, o f
that there was no fast German steamer sailing on that
Silver.
T o ta l
Silver.
Gold.
T o ta l
Gold.
day, gave same color to a report that the gold would go to
£
£
£
£
£
£
Italy for French account. I f this should prove to be the E n g la n d .... 31,885,713
31,885.713 30,905,705
30,905,705
44,195,493 150,942,584 95,422,733 44,278,659 139,701,392
F
destination, it would seem that the shipment was made Gra n ce n....... 106,747,091 13,013,000 50,050,000 32,662,000 11,476,000 44,138,000
37,037,000
erm a y ..
on direct order and therefore it was not an exchange Russia......... 101,322,000 6,675,000 107,997,000 82,543,000 6,683,000 89,226,000
48,678,000 12,140,000 60,818,000 46,582,000 12,206,000 58,788,000
A ust.-H nn.
operation. It is not at all certain, however, that either S p a in ........... 14,878,000 19,969,000 84,847,000 14,528,000 19,012,000 33,540,000
I a l y ............
shipment was made to Europe. In some quarters it is Nte th e r l’ds.. 22,180,000 3,166,200 25,346,200 21,316,000 3,335,200 24,651,200
4,128,400
5,529,000
6,123,700 11,652,700
6,427,600 10,556,000
believed that the gold is going to Mexico. Gold received N at. B elg.. 3,292,000 1,646,000 4,938,000 3,233,333 1,616,667 4,850,000
T o t. w e e k ... 371,548,804 106,928,393 478,477,197 331,321,171 105,035,126 486,856,29T
at the Custom House during the week was $216,781.
T o t. p r e v ... 372,025,181 107,003,825 479,028,506 330,882,779 105,319,177 436,201,950
)
Hominal quotations for sterling exchange are 4 84£
for sixty day and 4 87©4 87£ for sight. The market
was active on Saturday of last week, and, compared
THE TR E A S U R Y RETORT.
with the previous day, long advanced 5 points to 4 8370
O f Secretary Shaw’s report on the national finances
© 4 8380, while short fell 5 points to 4 8645©4 8650; submitted to Congress last Wednesday, it may be said
cables were unchanged at 4 8680©4 8690. On Monday, that the absence of pressing topics of appeal or argument
influenced by liberal offerings, as above noted, the mar­ is pretty good proof that the Government’s finances are in
ket was weak, and long declined 10 points to 4 8360© a good position. In previous annual reports the Secre­
4 8370, short 20 points to 4 8625©4 8635, and cables 15 tary has had to grapple with some awkward questions—
points to 4 8665©4 8675. On Tuesday there was a re­ sometimes with an excessive revenue, which was withdraw­
covery and a steadier tone, and long rose 15 points to ing money from the channels o f circulation; sometimes
4 8375©4 8385, short 10 points to 4 8635©4 8640, and with a Government bank deposit system which was
cables 10 points to 4 8675©4 8685. On Wednesday, working badly and aggravating instead of relieving
with the exception of an advance in long of 5 points to the money market; sometimes with apprehensions as
4 83S0©4 8385, there was no change, rates for short and to the status of the currency. Hone of these topics
cables remaining unaltered. On Thursday the advance has forced itself forward for official discussion
in the rate for money to 5 per cent caused a sharp de­ this year, and the obvious reason is, that for
cline in exchange, but this was followed by good buying, the time at any rate, they have dissappeared as urgent
which served to steady the market. There was a fall of public questions.
The excessive revenue no longer
40 points for long to 4 8340©4 8350, of 45 points for exists to draw money out of circulation; therefore the
short to 4 8590©to 4 8625 and of 30 points in cables to Government bank deposits question troubles no one at the
4 8645©4 8660. The market on Friday recovered a moment, and while the Secretary repeats his legitimate
good portion of the loss, closing firm at 4 8360©4 8370 for argument for a more elastic currency, still he qualifies
long, 4 8625©4 8630 for short and 4 8665©4 8675 for even this by asserting that u our currency system, though
cables.
Commercial on banks, 4 8330©4 8340 and somewhat complicated, has been proved safe and reliable
documents for payment, 4 82§©4 84. Cotton for pay­ under every practical test. The exchange of gold for all
ment, 4 82£©4 82£; cotton for acceptance, 4 8330© forms of money issued or coined by the Government, on
4 8340, and grain for payment, 4 83£©4 84.
demand, authorized by A ct of Congress approved March

2610

THE CHRONICLE.

| V O L . JLX.X1 X.

14 1900, removes every suggestion of public distrust or but which also provided for suspension of issue of gold
doubt.”
certificates “ whenever and so long as the gold coin” in
In general we should concur with this optimistic the redemption fund falls and remains below $100,000,view, though holding decidedly to our own previously 000. The Secretary’s amendment merely substitutes
expressed opinion, and that of the Secretary, that the the words “ gold coin arid bullion” for the words “ gold
note-issue function of the Government not only possesses coin,” his idea being to preserve to the Treasury the
certain potential dangers, which could be removed by a discretion of regulating the proportion o f coin to bullion
rational bank-note system, but to the further argument, in the gold reserve. W e do not see the necessity for
brought forward again by the Secretary this year, that the change, for a drain on that reserve would surely
the system of bank notes secured by Government bonds reach the $100,000,000 mark sooner if the requirement
is unworkable. A s the Secretary correctly points out, were that gold coin in that amount must be maintained
the clumsiness of this system has been demonstrated this than if it were provided that the issue of certificates need
present year, when, in the face of almost a maximum not be suspended until the holdings o f coin and bars
surplus bank reserve, and with interest rates at a mini­ combined should reach that sum.
mum because of slackened interior trade, bank note
The Secretary’ s other suggestion is more striking. He
circulation has actually increased $39,000,000 in a speaks, first, of the extent to which the trust companies
twelvemonth. Certainly, if a bank-note currency is to have entered the domain o f deposit banking while still
adapt itself automatically to the requirements of trade, regulated only by the State laws framed for purely trust
there ought to have been a decrease during the present undertakings, and he then makes the following proposi­
season, when all other forms o f money were being tion :
released from the channels of industry, and were flooding
“ I suggest the propriety, therefore, of a law giving
the city markets, where they served chiefly to pile up an trust companies o f large capitalization in large cities the
idle surplus and thereby stimulate Stock Exchange privilege of incorporating under Federal law, with cor­
responding supervision. I f such right were extended
speculation.
the more conservative would probably avail themselves
The Secretary takes up the question o f the year’s thereof, and this would compel others to cultivate con­
revenue deficit, which amounts to $41,770,571 for the servatism. It would not be necessary to extend to them
fiscal year ending June 30 last. This, as is well known, the distinctive prerogatives o f national banks beyond the
does not properly represent a deficit, for the reason capacity of being designated financial agents o f the G ov­
ernment, thereby justifying Federal jurisdiction; nor
that $50,000,000 was paid by the Government in the
should they be brought into competition with commercial
year for the Panama Canal. On the other hand, the banks, but they should be required to keep an appropri­
Secretary frankly figures out a deficit o f $18,000,000 ate, though relatively small, reserve within their own
for the current fiscal year; in other words, he as­ vaults, lest in times of financial stress their large deposits
sumes that the $25,900,000 deficit up to November 30 with national banks increase rather than diminish the
evils of financial panics.”
will be offset by a surplus of $8,000,000 in the en­
The idea suggested is not without interest, but we
suing seven months. Since those are ordinarily months
hardly see how it could become a practical question of
of a surplus revenue, the expectation is reasonable.
The Secretary’s estimate for the fiscal year 1906 contem­ debate. The case of the nationalization of the banks
plates a surplus of $22,330,147, this being largely ob­ during the Civil W ar was entirely different. Then the
tained by an estimated increase, as compared with the function o f acting as Government agents and of issuing
past fiscal year, of nearly $9,000,000 in Customs revenue the notes, which were virtually prohibited through a
and about $7,000,000 in the Excise taxes. A s to these heavy tax to the State banking institutions, gave a dis­
points, we should say that the outcome must depend not tinct and powerful inducement for Federal incorporation.
only on the course of national prosperity during the next No such inducement exists to-day. Certainly not for the
twelve or eighteen months, but on the extent to which trust companies, whose charters under State administra­
such prosperity finds expression in increased import of tion are extremely broad, and would remain so, even if
foreign goods. W ithout such increase, Customs revenues conservatively amended by the several States in the
will hardly grow and the cheapening o f domestic produc­ direction of a uniform cash reserve.
tion certainly does not suggest a return to the large im­
TH E COPPER SITU A T IO N .
port witnessed in 1902 3 of commodities like steel and
iron, bearing heavy rates of duty.
The situation as regards copper prices and copper con­
Two other suggestions o f the Secretary call for pass­ sumption has for many months been an interesting one
ing comment. One is, his intimation that the law regu­ and this week’s developments obviously give increased
lating gold reserves against outstanding notes should be importance to it. A ll through the year there has been
amended. Apparently this idea was suggested to the an active speculation in mining shares at Boston, which
Secretary by the recent large gold withdrawals. His has always been the principal market for copper proper­
idea is that since an export demand results in presenta­ ties, and in this upward movement Amalgamated Copper
tion of gold certificates through which gold bars can be in the New York market has participated. Not all cop­
obtained for export, the Treasury should be empowered per mining shares are purely speculative propositions
to suspend the issue of such certificates “ whenever and like Amalgamated Copper. The latter leaves its share­
so long as the gold coin and bullion held in the reserve holders absolutely in the dark (always excepting those
fund
in
the
Treasury
*
* *
shall fall who have inside sources of information), furnishing
and remain below $100,000,000.” This, it will neither annual reports nor even bare statistics of produc­
be recalled, was the old statute of 1882, on which was tion. On the other hand, a great many other copper­
based the requirement of the “ hundred-million gold re­ mining concerns do make annual statements to the pro­
serve.” It was superseded by the Gold Standard A ct prietors and the most o f them in addition also furnish
of 1900, which expressly reserved $150,000,000 “ in returns each month showing their monthly product, from
gold coin and bullion” for purposes of note redemption, ' which, in conjunction with the market price of the metal,

Deo. 10,1904. |

it is possible to arrive at a pretty close approximation to
current profits. There hare been two important circum­
stances favorable to the rise in the copper shares the
present year, namely the marked appreciation in the
market price o f the metal and the large export ship­
ments.
O f course W all Street and State Street look at the
copper situation mainly from its bearing on the intrin­
sic value of the copper properties which find a place in
the two markets. But to the country at large the mat­
ter is o f wider concern. Copper mining is an important
industry in the United States and likewise in the world
at large. Then, also, copper furnishes a very consider­
able item in the country’ s foreign commerce, all the
more so owing to the increase in the exports which has
occurred the present year. Besides all this, there are in­
numerable enterprises and articles of manufacture into
which copper enters as a component element and in such
cases the question whether the supply o f copper is large
or small and the market price o f the metal low or high is
one of great moment.
Speaking in a broad, general way, it is doubtless cor­
rect to say that the copper trade is in better shape than
for a long time past. On the other hand, it is equally
true that there is nothing to suggest that resort to price
manipulation and indulgence o f the reckless spirit which
has cropped out in the copper trade so many times in the
past, would not invite and be attended by the usual
penalties, thereby bringing about a speedy set-back. The
price of Lake copper until this week ruled at about 15
cents per pound. In December o f last year the quota­
tion was about 12%a>12£ cents. The difference between
these two figures indicates the extent of the appreciation
that occurred in the interval. The last two days there
has been a sharp decline o f £ cent per pound, which,
under present conditions, is extremely suggestive.
The principal factor in the advance in the price
o f the metal has been the great increase in the
export shipments. The accepted theory with regard to
these large exports is that they indicate an urgent de­
mand and greatly enlarged consumption abroad. This
theory receives apparent support in the noteworthy expan­
sion o f copper production which has been in progress year
by year, and the fact that it has always been possible to
find a market for the increased supplies except in periods
when the price was held at an artificial figure— such as
the 17-cent-pegged quotation which the Amalgamated
Copper Company sought to maintain in 1901 and which
resulted in such a disastrous failure.
Over one-half
the world’ s yearly production o f copper is furnished by
the United States; and in the record of the mines o f this
country there has been no more conspicuous or more
striking feature than the expansion in yearly product.
Here is a table which we have compiled from the annual
volumes o f the United States Geological Survey. Con­
sidering the source o f the statistics, they can obviously be
accepted as reliable.
C O P P E R P R O D U C T I O N I N U N IT E D S T A T E S .

tear.
1903 .
1903 .
1901 .
1900 .
1899 .

Pounds.
.698,044,517
.659,508,641
602,072,519
.606,117,166
568,666,921

2611 \

THE CHRONICLE.

Year.
1898 .
1897 .
1896 .
189 5 .
1894 .

Pounds.
526,512,987
.494,078,274
,460,061,430
385,913,404
.364,866,808

It will be seen that for 1903 the copper production of
the United States is given as 698,000,000 pounds, and
that this compares with only 365,000,000 pounds in
1894— the increase therefore for the nine years being 333,-

000,000 pounds, or over 90 per cent. ISTot alone, how­
ever, has the United States furnished increased supplies,
but the other leading copper-producing countries have
also contributed enlarged amounts. From the tables
compiled by Henry B. Merton & Company, Ltd., Lon­
don, who are acknowledged authorities on copper statis­
tics, we have prepared uhe following summary of the
yearly production o f the copper mines o f the whole
world. The figures are given not in pounds but iu
tons— the unit being the English ton o f 2,240 pounds.
C O P P E R P R O D U C T IO N O F T H E W O R L D .

Tons.
Year.
1903 ................ ............... 565,820
1902................ ................541,295
1901............... ............... 516,628
1903...... .......... ................ 479,514
1899 .................

Year.
Tons.
1898.................
1 9 9 7 ................
1896................
1895 . . . . . . . . . . . . .................334,565
1894___ ... ...

The foregoing serves to emphasize still more the great
expansion in output which has occurred, the world’s pro­
duction of copper in 1903 having been 565,820 tons, as
against only 324,505 tons in 1891. A n d yet a market
has been found for all this copper. O f course the uses
for copper have multiplied, and in every direction. For
one thing the consumption o f copper in electrical enter­
prises has enormously increased. Formerly there was
call for wire only for use in the telegraph service. F ow
wires are also needed in the telephone service and for
running electric roads, the latter an entirely new devel­
opment, the creation o f the last decade. Furthermore,
large amounts of copper are required in connection 5vith
the building of ships, a circumstance of no little con­
sequence considering that all the leading nations of the
world have been making large additions to their naval
armaments in recent years. It thus happens that the in­
crease in the production of copper has merely kept pace
with the increased consumption o f the metal— with the
new and enlarged uses to which copper has been put.
Whether, however, the extraordinary expansion in the
exports from the United States the present year can be
explained in the same way is not so entirely clear. Study
of the export statistics may help to throw light on the
matter, and accordingly we have brought together the
following figures, covering the ten months o f the last
three years.
C O P P E R E X P O R T S F R O M T H E U N IT E D S T A T E S .

,------Ten months ending October 31.------.
Ingots, bars, plates, etc., to—
1904.
1903.
1902.
Netherlands .................
125,216,531 75,557,786 81,251,111
United Kingdom........... ..lhs
92,561,317 86,703,959 82,067,250
Germany........................ ..lbs. 88,242,170 54,690,335 50,282,059
France ..........................
81,522,577 40,762,483 57,215,924
R ussia..........................
a
6,8X2,967
18,260,391
Ita ly .......... ...................
5,495,774
11,863,017
7,487,59*
Belgium.........................
3,680,953
7,629,660
7,466,861
Other Europe................
23,857,751
13,405,535 023,335,441
c
c
Chinese Empire............
e4,603,171
2,177,580
2,451,703
British North America. ..lbs.
2,970,818
M exico...........................
190,837
138,962
228,453
224,590
61,203
69,061
Other countries............
Total........................
456,980,03 l 239,492,542 312,518,253
Aggregate value......................$53,288,625 $31,864,784 $38,421,999
Average price per pound...... 12-8 cents.
12-3 cents, j
1S'3 cents.
Othermanufaotures of copper $2,503,750 $2,065,643 $1,815,978
Total value, not Including ore $60,792,375 $33,930,427 $40,237,971
Copper ore................... tons.
Copper o r e .................. value.

14,742
$972,838

10,244
$711,205

16,207
$1,233,506

a Prior to Jau. 1,1903, Russia was included in “ Other Europe ”
e Prior to August, 1904, Chinese Empire was included In “ Other
Countries.”

Thus the export shipments for the ten months o f the
present year were almost 457 million pounds, against
less than 239£ million pounds in the ten months of 1903
and 312£ million pounds in the ten months of 1902.
The increase, too, has been general, every leading coun­
try taking a greatly enlarged amount of copper from us.

2612

THE CHRONICLE.

This, at first thought, would seem to confirm the view of
an active and general demand for copper all over Europe
(and in Asia, too, for that matter), but on second thought
it appears a little strange that a sudden great increase in
demand should spring up and take within its embrace
the whole world. Without some common stimulating
agency we should expect at least some of the consuming
countries to take little or no more. Certain special
circumstances obviously did contribute to bring about
an increased consumption of copper in 1904.
The
Russo-Japanese war is one of these, both combatants
buying extra amounts of supplies and munitions of war
in which copper forms a constituent element. It has
also been stated that China formerly derived its supplies
of copper from Japan, but this year has had to rely upon
other countries.
The total exports, however, from
the United States to the Chinese Empire during
August, September and October 1904 were only
4,603,171 pounds. Previously the shipments to that
country were so small that they were not separately
stated by the Bureau of Statistics. The increase in the
aggregate of all copper exports from the United States
during the ten months of 1904 was, we have seen, 217£
million pounds, and in an item of such magnitude the
less than 5 million pounds sent to China is obviously o f
little significance. In fact, Japan’s whole annual pro­
duction of copper amounts to not more than 70 million
pounds a year, and if all o f this were eliminated,
it would form only one-third o f the 217£ million pounds
increase in the shipments from the United States during
the ten months.
There is, however, another possible explanation which
comes in a suggestion from abroad, and which possesses
a considerable air of plausibility. W e have just re­
ceived a pamphlet compiled by the Metallgesellschaft
and Metallurgische Gesellschaft, A . G., containing, in
compact form, the most comprehensive general statistics
regarding lead, copper spelter, tin, silver, nickel, alumi­
num and quicksilver which have ever come to our no­
tice. In this book reference is made to the well-known
fact that during the latter half of 1903 industrial de­
pression greatly decreased home consumption o f copper
in the United States, leading to heavy unsold accumula­
tions o f the metal. The writer argues that the extraor­
dinary exports o f 1904 would not have been possible had
not these large stocks o f marketable copper been ready
to hand, especially seeing that consumption in the United
States has also latterly again increased to a considerable
extent. It was obviously desirable that these stocks
should be got rid of, for no improvement in price could
be established until this was done.
Viewed in this way, the large exports of 1904 find
their explanation more in the necessities of home pro­
ducers than in any urgency of demand on the part of
foreign consumers. Such a conclusion may also be de­
duced from the figures given above. W e have incor­
porated a line, it will be seen, in the table showing the
average export price at which the copper went out, and
the results are exceedingly significant. W hile the current
market price of copper has been 2® 3 cents a pound higher
than a year ago, it is found that the average on the export
shipments has actually been less for 1994 than for 1903,
the comparison being 12-8 cents per pound, against 13-3
cents. A n d this comparison holds good not only for the
ten months as a whole, but also for October standing by
itself) where the export shipments had an average
price of 12*9 cents per pound in 1904 against

[V O L . L X X IX .

13-4 cents per pound in October 1903. It thus
looks very much as if copper had gone out in such large
amounts because concessions as to price had been made
to induce foreign consumers to take it. O f course, when
a price is made sufficiently attractive, buyers for one’ s
wares can always be found. On that theory a reason is
disclosed why increased shipments of copper are reported
to all the consuming countries without any exception.
I f this view be correct, then the conclusion seems war­
ranted that our exports will remain large only so long as
the price is kept satisfactory to foreign purchasers. It is
perhaps worth noting, too, that recently the foreign
visible supply of copper, after having steadily diminished
for a long time, has again been increasing. This socalled foreign visible supply is made up simply of visible
stocks in Great Britain and France, together with
amounts afloat from Chili and Australia. The increase
is as yet slight and the total foreign visible supply re­
mains very small, and yet that there is any increase at
all is significant as showing a change in tendency. This
foreign visible supply was at its lowest just six months
ago— that is on June 1, it being then reported 10,823
tons. For December 1, the amount is reported as
16,044 tons.

“ A W R E C K IN G GANG E 1 E H IM UP.”
A construction company which is building a gas tank
in the Bronx district brought ironworkers from Camden
to the job, and these men worked fifty hours a week,
according to the rule in their own union. Presently a
walking delegate from a local ironworkers’ union ordered
the Camden men to stop, saying that no self-respecting
ironworker would work over forty-eight hours a week,
which is the union rule in Manhattan; this man was
ordered away several times and no attention was paid to
him.
Finally one afternoon near nightfall strangers
began to get off the trolley cars and hung around until
they numbered fifty ; while these were waiting, a work­
man (who happened to be a carpenter, not an iron­
worker) came out of the yard, when they attacked him
with fists and clubs, doing what the headline says. H av­
ing thus enforced the order of the Manhattan union and
vindicated the rights of labor, according to their inter­
pretation, they fled, and will probably escape discovery.
The frequency of such incidents should not blunt one’ s
perceptions of the character of such outrages, and it is
difficult to refer to them without letting indignation run
hot from the p en ; still moderation in language is always
best. In this case we do not find that the principle of
the open shop— meaning thereby the natural, inalienable
right of every man to sell his labor in the open market
on the best terms he can and the equal right of the em­
ployer to buy labor without restrictions other than the
market— is distinctly attacked. For the men on the tank
were working as union members, in submission to their
own union and obeying its rules; another union sought
to override the authority of its fellow organization and
force a different rule upon it. The tacit assumption was
that this is “ our” territory, subject to “ our” authority;
and that if outsiders are permitted to come in at all they
must leave their local allegiance at home and submit to
“ ours.” There is involved an apparent setting-up of local
organizations against the national one.
The case remains, therefore, simply another attempt o f
one set of men to forcibly regulate the labor of another
set. Organized labor can never get any good and last­
ing hold upon public sympathy until it stops perverting

D e c . 10, 1904. J

THE CHRONICLE.

2613

the serviceable Tises of organization into an exercise of United States Supreme Court affirming the constitu­
cruelty and brutal force. Those serviceable uses are tionality of the Kansas law providing for a working day
many and obvious: mutual education; help in time of of eight hours on public works. In speaking with refer­
sickness and death; the weight which naturally comes ence to this latter decision in our issue of Dec. 5 1903,
from speaking as one, in dealing with the employer; gen­ we pointed out that the Kansas case raised a wholly
eral improvement in moral tone and social life. The separate and distinct question, and hence could not.
possible services are so many and important that they be considered as controlling in the case of the Kew
justify organization per se— indeed that has almost be­ York law.
come a necessity in these times— and every thinking
This view is confirmed by the ruling in the action
person must regret to see such opportunities wasted by just decided by the Court of Appeals. The case was
being perverted. Organization of labor might be potent that of the People of the State o f Kew York ex reh
for good if it were content with informing, reasoning and Harry Cossey,’ appellant, vs. Edward M. Grout, as
influencing; when it attempts to overawe and dominate, Comptroller o f the City of Kew York, respondent. It
as is its tendency so often, it becomes an instrument of appears that in October 1903 Cossey entered into a con­
evil which must remain evil until it changes its aim. tract with the City o f Kew York whereby he agreed to
Since men dearly love to gain ease and power by getting construct and deliver to the city ten scows for the sum
on top, this is a case o f democracy developing into of $5,225 each. B y his contract Cossey agreed to com­
ply with the provisions of Chapter 415 o f the Laws o f
despotism.
There have been some attempts by employers to apply 1897, as amended, known as the “ Labor Law,” and
to their workmen and workwomen a systematic uplifting which provides that no laborer, workman or mechanic
of which we have heard much, as being a model course shall be required to work more than eight hours in any
to follow. But candor compels us to say that this is cod­ one calendar day, except in the case of extraordinary
dling and petting, and in the most conspicuous instance emergency. Under this contract six scows were con­
it at last came to a halt by having virtually made ^structed and delivered to the city authorities and ac­
spoiled children of its subjects and produced the rebellion i cepted and retained by them. The Comptroller, however,
which it was expected to make impossible. Such schemes ! resisted payment of the contractor’s claim on the sole
of employers can be used only in a business having a ground that he had permitted his men to work for more
large profit-margin and a practical monopoly; no other than eight hours a day in the absence o f any extraordin­
could sustain them.
ary emergency.
In delivering the opinion o f the Court declaring this
T or in this hard Avorld the man who tries to sell above
the market will fail o f buyers, and the man who tries to provision of the law void, Chief Judge Cullen takes occa­
pay more than the market will incur danger of bankruptcy sion to say that the validity of the so-called labor legis­
if he persists. It is a truism to say so, but competition is lation recently enacted in many o f the States has been
the final regulator o f prices everywhere. Labor must the subject of much litigation and controversy both in
come under the same law as other commodities. It can the State and Federal Courts. Moreover, he is frank
raise its own wage by raising its productive effectiveness enough to sa}r that there have been radical differences of
through increasing quantity and quality o f output opinion among the members of the Court of Appeals on
and lessening wastes. This it can do by organization the questions presented by such statutes. It is evident,
intelligently and reasonably directed; but when it runs too, that these differences still exist to a great extent, for
into excesses and allows its leaders, drunk with the de­ we observe that Judge W erner is the only member o f the
light of power, to attempt to substitute force for the free Court who concurs in the opinion written by Chief Judge
working of natural laws it is fighting against the con­ Cullen. Judge O ’ Brien writes a separate opinion assent­
stitution of things. Even the stars in their courses are ing to the general result, but dissenting from some of the
against it then, and however it may seem to flourish for propositions advanced by Judge Cullen, and Judges Martin
a time and however politicians may cater to it and even and Vann subscribe to O ’Brien’s arguments rather than
judges may sometimes be swayed by it, in the end it is to those of Judge Cullen. Judge Haight read a dissenting
opinion. Judge Gray was absent. O f course the im­
certain to fail.
portant fact is that five of the six judges who Avere present
TH E E IG H T -H O U R D E C IS IO N .
> are satisfied that the law is unconstitutional.
In view of the numerous decisions that have been ren- ; Judge Cullen notes that the earliest case which came
dered the last few years in this State and elsewhere j up under the Labor Law was that o f the people ex rel
bearing upon the validity of eight-hour laws for public j Rodgers vs. Coler. This was the “ prevailing rate of
work, it seems desirable to see just what points are cov­ wages ” case referred to above. It was an application
ered by the decision rendered by our Court of Appeals by a contractor to compel the payment of his claim by
on Tuesday of last week. Our readers may recall the the city. The latter resisted on the ground that the con­
decisions of the same Court in March 1901 in the “ pre­ tractor had failed to comply with the Labor Law so far
vailing rate of wages” case and in the matter o f the j as it required payment by him to his employees o f the
law requiring all stone used on public works to be dressed prevailing rate o f Avages. It Avas held that the Labor
in this State. These decisions were reviewed in an ar­ Law in that regard was unconstitutional and void.
ticle in our issue o f March 10 1901; both held the laws Judge Cullen says that that case differed from the present
in question unconstitutional. Last year (see C h r o n i ­ one in but one respect. There the contractor had failed
c l e of May 2 1903) the same Court declared void the to comply with the requirement as to Avages; here the
eight-hour provision in the penal code making it a mis­ contractor permitted daily labor in excess of eight hours.
demeanor for any person or corporation contracting with This difference in circumstances would not justify a
the State or with a municipal corporation to require distinction in principle and therefore in his view the de­
more than eight hours’ work for a day’s labor. Later, cision in the Rodgers case must control the disposition of
that is in December 1903, there came a decision by the the present case— unless indeed the Rodgers case has

2014

THE CHRONICLE.

[V O L . LXX1X.

been overthrown by the subsequent cases in the Court
The opinion in the Rodgers case proceeded on two
o f Appeals or in the Supreme Court of the United grounds. (1) That the Labor Law invaded the consti­
States.
tutional rights of the municipality and (2) that it invaded
To determine this last point— that is, as to whether the constitutional rights of the contractor by depriving
the later cases have overruled the Rodgers case— refer­ him o f his liberty to contract with his employees and in
ence is made to some of the important decisions rendered confiscating the stipulated price for his work in case he
since then. The first is that of People, &c., vs. Orange failed to comply with its provisions. The second ground,
County Road Construction Co., which was discussed in the supposed invasion of the rights of the contractor, Chief
our issue of May 2 of last year. Chief Judge Cullen Judge Cullen asserts, is entirely swept away by the de­
asserts that that case has in reality no bearing on the cision in the Kansas case because, as pointed out by the
question presented in the present instance. Section 384 U. S. Supreme Court, no man has any right to contract
of the Penal Code makes any one contracting with the with the public any more than with an individual except on
State or a municipality who shall require more than such terms and conditions as the State chooses to prescribe,
eight hours’ work of an employee guilty of a misde­ and so far as the confiscation o f his property, the contract
meanor and punishable by a fine. A s was pointed out in price, is concerned, he never acquired any right to such
the opinioo rendered in that case, the statute did not as­ payment except on the performance of the terms of his
sume to punish a contractor for violating his contract, but contract. The first ground of the decision in the Rodgers
for doing the prohibited act, that is requiring more than case, that the Labor Law of this State was an unconsti­
eight hours’ labor from an employee, regardless of tutional violation of the city’s rights and powers, is not
whether or not he had agreed by his contract not to determined, Judge Cullen holds, by the Kansas case.
require such a term of labor, and even though his con­ Though as against the State a municipality has no
tract might have been made years before there was any rights protected by the Federal Constitution, its relation
legislation on the subject. It was held that such a to the State government and the extent of the power of the
penal enactment could not be sustained as a police or Legislature to control it are to be determined exclusively
health regulation, because o f tne arbitrary distinction by the provisions of the State Constitution, which may
drawn between workmen employed on State or munici­ bestow upon a municipality such degree o f autonomy as
pal work and those performing similar labor under other the people see fit. Hence, so far as the decision in the
contracts. The question of the effect o f a violation of a Rodgers case rested on that ground, it has in no way been
provision of the contract not to employ workmen for impaired by the U. S. Supreme Court’s decision in the
more than eight hours, Chief Justice Cullen asserts, was Kansas case.
not involved in the case nor passed on by the Court.
Chief Judge Cullen therefore holds that the eightJudge Cullen then passes to a consideration o f the hour provision of the Labor Law is void because in con­
case of Atkins vs. Kansas, decided by the United States travention of the State Constitution with respect to the
Supreme Court in December of last year. There a stat­ rights and powers of a city. This proposition of the un­
ute of Kansas enacted that any one who, thereafter con­ constitutional interference o f the Legislature with the
tracting with the State ora municipality for the perform­ right of a municipality was explicitly decided in the
ance o f a public work, should require or permit any Rodgers case; and it is of equal force in the matter of the
workman to work thereon more than eight hours in a day, eight-hour provision.
Judge O ’Brien, with his col­
should be punishable by fine and imprisonment. The leagues Martin and Yann, assents to the conclusion that
contractor was convicted and punished under this statute. the statute is unconstitutional and void, but he does so
His conviction was upheld by the Supreme Court of on the double ground, as we understand him, that the
the State of Kansas, and the case was taken to the Labor Law invades both the constitutional rights o f the
Sspreme Court of the United States by a writ o f error. municipality and the constitutional rights of the con­
A s the case came from the State court the only question tractor. H e dissents from the view of Chief Judge
cognizable by the U. S. Supreme Court was whether the Cullen that the decision o f the U. S. Supreme Court in
legislation of Kansas was in conflict with the Federal the Kansas case has swept away the supposed invasion
Constitution. The question whether the legislation was of the rights of the contractor. In his view no such
in conflict with the Constitution o f Kansas was not before question was up for consideration in that case. His
the Federal Court nor did that Court have any jurisdic­ argument is quite lengthy, and we shall give here only
tion to pass upon it. The conviction, as will be remem­ one paragraph from the same, as follow s:
bered, was sustained.
u Does the case of Atkins vs. Kansas decide that the
According to the views o f Chief Judge Cullen the statute now before us, and which was before us in the
U. S. Supreme Court in the Kansas case held substan­ Rodgers case, is free from the constitutional objection
that it deprives the contractor of his property without due
tially two propositions: First, that so far as the Federal process of law? ” In my opinion it does not and could
Constitution was concerned a municipality is a mere not, since no question of that kind was presented by the
agency of the State and subject to the absolute control statute or by the case; and so I conclude that that de­
o f the Legislature. Second, that the constitutional cision has not swept away one of the most important
liberty of the contractor was not violated because he grounds upon which one o f our own decisions rests. The
fallacy of the argument that gives such effect to the Kansas
had no right to contract with the State or the munici­
case consists in the assumption that because the Court
pality except on such terms as the Legislature might held that the Kansas statute does not unduly interfere
prescribe. Judge Cullen is o f the opinion that this with personal liberty, it therefore held that our statute
decision disposes of all claim that labor legislation does not invade the rights o f private property. It is
o f the kind in question is in contravention of the Con­ obvious that a case which deals only with the question
of personal liberty cannot be an authority to overthrow
stitution of the United States, but it does not, he thinks, j
! our decision in the Rodgers case, based as it was upon
impair the authority o f the decision in the Rodgers I an entirely different statute which invades and was held
|
case, though it does affect part of the reasoning by , by us to invade the constitutional safeguards o f private
j
i
which the conclusion in that case was reached.
I property. W hen we consider that the Kansas statute

T H E CHRONICLE.

D e c . 1 0 ,1 9 0 4 .]

was not aim ed at the contractor’ s property and does not
interfere in the least with his contract or its fruits,
or deprive him o f the righ t to sue upon it, or
authorize it to he canceled or destroyed, and that
our statute expressly does, or attempts to do, all these
things, thereby p rovidin g for the destruction o f all the
contractor’ s property rights, even to the extent o f forbid­
ding any m unicipal officer to pay him for his work, the
wide difference in the destructive power o f the two
statutes must be apparent. The only reason why the
present case is now before us is that the city authorities
refused to pay the relator the contract price o f the prop­
erty w hich he delivered to the city and which the city
retains and uses as its own. E x ce p t for this statute the
Com ptroller w ould have paid the claim , and his excuse
for refusing to pay contained in the record is simply
that the statute forbids him to pay and makes it a public
offense i f he does. H en ce, I think it is plain that the
decision in the K ansas case did not and could not sweep
away any support w hich the R odgers case has in the
proposition that our statute violated the constitution, in
that it deprived the contractor o f his property w ithout
due process o f law.
I t is proper to add that to rem ove the constitutional
objection to labor legislation

o f the kind under review ,

an am endment to the State

C onstitution is to be voted

upon at the N ovem ber

election

of

next

year.

T he

amendm ent referred to is intended to amend S ection 1,
A r ticle 12, o f the State C onstitution, by adding the fol­
low in g words: “ A n d the L egislature m ay regulate and fix
the wages or salaries, the hours o f work or labor, and make
provision for the protection, welfare and safety o f per­
sons em ployed by the State or b y any county, city, tow n,
village or other civ il

division

o f the State, or by any

contractor or sub-contractor, perform ing work, labor or
services for the State, or for any county, city, town, v il­
lage or other civ il

division thereof.”

T he con clu din g

words here are obviously intended to cover ju st such cases
as those w hich have arisen in the various suits that have
been the subject o f ju d icia l determ ination.
posed amendment has received

the

T he pro­

approval o f two

separate legislatures, as require^ in the case o f am end­
ments to the C onstitution, and needs now only endorse­
m ent at the general election in 1905 to m ake it effective.

ITEMS ABOUT BANK8, BANKERS AND TRUST CO’8.
—The public sales of bank stocks this week aggregate 194
shares, of which 169 shares were sold at auction and 25
shares at the Stock Exchange. Transactions in trust com­
pany stock were limited to the sale at auction of one lot of
50 shares. A block of stock of the Bank of the Metropolis,
amounting to 144 shares, was sold at 437J£, and was the first
public sale of the bank’s stock since February 1908, at which
time the price was 411.
Sharet.

B a n k s —Veto Fork.

10 City Bank, National...................
•25 Commerce, Nat. Bank o f.............
15 Gallatin National Bank............. ..
144 Metropolis, Bank of the..........
T ru st C o m p a n y —Brooklyn.

50 People’s Trust Co...................... .

Price.

Last previout M
ale.

Dec. 1904— 806

310*8
243*8
416
437*8

Dec. 1 9 0 4 - 243
O ct 1904— 400
Keb. 1903— 411

330

Ang. 1904— 300

•Sold at the Stock Exchange.

—The proposed organization of the new Day and Night
Bank, which will be a distinctive departure in banking insti­
tutions, was lately announced in this city. The formation of
this bank has attracted widespread attention, chiefly because
its projectors intend to keep the institution open for the
transaction of business after the regular bankiDg hours, 9
a . m , to 8 p. M.
Its founders believe, however, thar there is
a genuine need in the Metropolis for a banking institution,
accessible and centrally located, that will provide the
usual accommodation, not only during the day but
late In the afternoon, and as late in the even­
ing as future practical
experience
may
dictate.
By extending its regular banking hours aud not restricting
the dosing to 3 o’clook in the afternooo, the new bank’s
organizers expect to afford a vast number of department

2615

stores, hotels, clubs, shoppers and the city’s wealthy residents
with an opportunity of making deposits and withdrawals and
using its safe-depo3it vaults when most convenient, according
to their respective requirements. The institution will be
situated at a point between 32nd and 42nd Street, Fifth
Avenue and Broadway. Its capital will be $259,001, with a
surplus of equal amount. The following gentlemen are in­
terested in its success: Messrs. O. H. P. Belmont, John C.
Tomlinson, Oakleigh Thorne, Frank G. Griswold, Thomas
B. Clark, W. K, Vanderbilt Jr,, Harry Payne Whitney and
James W. Ellsworth. Mr. Oakleigh Thorne, President of
the North American Trust Company, will probably be Presi­
dent,
—The directors of the New York County National Bank
corner 14th Street and 8th Avenue, have this week declared
a semi-annual dividend of 50 per cent (the 105th dividend in
its history), payable to stockholders Jan, 3 1905, la both
1903 and 1904, respectively, this institution paid its share­
holders 75 per cent yearly, or 50 per cent in January and 25
per cent in July of each year. The bank’s capital stock is
$200,000, besides surplus and undivided profits of
The
deposits are $5,527,800. The official staff includes Francis L.
Leland, President; William H. Jennison, Vice-President;
William Carpender, Second Vice-President, and Frederick
Fowler, Cashier.
—Mr. Jacob H. Sehiff was this week elected a director of
the Fifth Aveuue Trust Company of this city to succeed the
late Mr. Joseph C. Hendrix.
—Mr. Robert E. Jennings, Second Vice-President of the
Ornoible Steel Company of America, has succeeded Mr.
James E, Hulshizer, resigned, as a director of the First Na­
tional Bank of Jersey City. Mr. Hulshizsr also recently re­
signed as President of the New Jersey Title Guarantee &
Trust Company of Jersey City.
—Messrs. Harriman & Co., bankers, have opened a branch
office in Newark, N. J., in the Bonnell Building, at 196 Mar­
ket Street, the heart of the business section of that city. The
firm has two other branches, one at 5C Fifth Avenue this
0
city, and the other at Newport, R. I. The main office of the
firm, now at 120 Broadway, will be removed to the new
Trinity Building at 111 Broadway upon the completion of the
building about March 1 next.
—The Bank of the Commonwealth—a new Brooklyn in­
stitution of which mention was made in our issue of October
22—has set its opening date for the 19fch inst. It had been
expeoted that the bank would be in operation before this,
but owing to delays encountered through strikes on the
building in which it is to locate, the opening has had to be
postponed.
—Banks and bankers in the United States who have ex­
perienced trouble in obtaining exchange payable at par in
Canada, especially at points remote from the principal cities,
will be interested to know that the money orders of the
Bankers’ Money Order Association of New York are now
payable at over 350 branch banks in all parts of the Dominion
at par. There is, perhaps, no medium of exchange other than
post-office orders that now has so wide a number of Canadian
par points.
—The troubles growing out of the run last week upon the
German-American Bank of Buffalo were followed on Mon­
day of the present week by the closing of the doors of the
German Bank, also of Buffalo. Superintendent Kilburn,
who assumed charge of the latter, aqnounced that he had
taken possession because of a constantly increasing run,
which the management was unable to meet. With the clos.
ing of the German Bank the run on the German American
Bank was renewed, but on the announcement that the Buf­
falo Clearing-House had come to the aid of this institution,
and that a reorganization of the bank had taken place, con­
fidence was restored. The statement issued by the Clearing
House was as follows:
“ The Buffalo Clearing House Association has oaused a careful exam­
ination to be made of the assets, liabilities and affairs of the GermanAmerloan Bank, and It has found that the Bank is solvent. They
have decided to advan oe It such moneys as are necessary to meet all
demands upon It.
“ The board of directors of the GermanAmerioan Bank has been re­
organized. Mr. Emory has resigned as President and director, and the
Hon. Loran L. Lewis 8r. has been eleottd as President and the Hon.
John G. Wlokser and Franklin D. Looke have been elected direotors.
“ S. M. Clement ,
“ Chairman Buffalo Clearing House.*

2 () I ()

T H E C H RO NIC LE

The retiring President, Mr. Richard Emory, had also been
President of the German Bank, having becom e associated
with both institutions last spring. His election to the presi­
dency of the German Bank (capital $100,000) occurred in
May, just after the announcement that Messrs. Hambleton
& Go. of Baltimore (with which he was connected) had pur­
chased the institution. W hen a change in the ownership o f
the Germ an-Am erican Bank (capital $200,000) took place in
June, Mr.JEmory was chosen as its President. Mr. Emory was
also, it is reported, closely allied with street railway matters.
The Fidelity Trust Company and the Commonwealth
Trust Company of Buffalo have made separate propositions
to Superintendent K ilburn to liquidate the affairs o f the Ger­
man Bank. Both, he states, are advantageous offers, and
w ill be submitted to the proper authorities.
—Mr. John S. Bray ton Jr. has been elected to succeed his
father, the late J oh n S . Bray ton, as President o f both the
First National Bank of Fall River, Mass., and the B. M. C
Dnrfee Safe Deposit & Trust Company o f Fall River, Mr,
David A . Brayton has been elected Vice-President o f the
First National Bank of Fall River.
—Mr. Charles R. Batt has been chosen to succeed the late
Mr. Samuel A . Carlton as President o f the National Security
Bank of Boston, Mass, The offices o f Vice-President and
Cashier, heretofore held by Mr, Batt, have been separated,
Mr. D, Webster K in g becom ing Vice-President and Mr,
Charles S» Osgood being elected Cashier, The position of
Assistant Cashier, previously held by Mr. Osgood, remains
unfilled,
—Representation has been given to the new interests in the
Brookline National Bank o f Brookline, Mass., by the elec­
tion o f Mr. Charles H. Draper as President and a director to
replace Mr. Charles H, W . Foster, resigned. Control o f the
bank, it was reported several weeks ago, was secured by
Messrs. Lee, Higginson & Co., acting on behalf o f interests’
connected w ith the First National Bank o f Boston. New
directors w ill be added to the board o f the Brookline Bank
at the annual m eeting in January. Mr. Draper, the new
President, was form erly connected with the First National
Bank o f Boston, retiring as Vice-President last A pril ju st
prior to the consolidation w ith the National Bank o f the
Redem ption.
—The first dividend to the creditors o f the Taunton Safe
Deposit & Trust Company o f Taunton, Mass., has been
declared. It is for fifty per cent and is payable on the 15th
inst. The institution was ordered closed by the Massa­
chusetts Savings Bank Commissioners on February 27 last.
Mr. Frederick F. Hall is the receiver.
—Mr, Edgar S, .Kromer, form erly Assistant Cashier, has
become Cashier o f the National Bank o f Northern Liberties
o f Philadelphia, through the retirement o f Mr. Lemuel C.
Simon. The title o f Cashier Em eritus has been conferred
upon the latter, who resigns after fifty-three years o f service
w ith the institution.
Mr, Frank M. Hardt is the new
Assistant CaBhier,
—On Novem ber 23, the date o f the expiration o f its char­
ter, the Farmers’ National Bank o f Lancaster, P a ,,— w hich
claims the distinction o f being the oldest bank in Pennsyl­
vania outside of Philadelphia—was succeeded, by the Farmers’
Trust Company. The bank was organized in 1810 and entered
the National system on Novem ber 22 1861. The trust com ­
pany has the same officers and directors, and is owned
by the same stockholders as was the Farmers’ National Bank.
It has an authorized and full-paid capital o f $225,000 in $50
shares and surplus o f over $500,000, Mr. J. W . B. Bausman
is P residen t; S. M. Seldomridge, V ice-P residen t; Charles F.
Hager, Secretary and Charles A . Fon Darsmith, Treasurer.

[ VOL. L X X lX .

fact that he had been designated a Presidential Elector on
the Republican ticket. A place w ill again be made for Mr.
Farrin on the board upon the com pletion o f his political
duties,
—The follow in g self-explaining statement concerning the
holdings by Cleveland banks o f Chadwick paper was pub
Ushed by the bankers o f that city in the Cleveland “ Leader”
of the 4th inst.
*To the P eop le o f C levela nd :
A number of the bankers of this city, among whom are those whose
signatures appear below, having Intimate knowledge of the financial
transactions of Oassle L. Chadwick, desire to state what amount of
Mrs. Chadwick’s paper is held by Cleveland banks at this time.
So far as we know there Is bat $ 17,000 of this paper now in al the
Cleveland banks, which paper Is In the bank of the Wade Park B nklng Company, as acknowledged by Its officers.
Whether Mrs. Chadwick pays her debts or whether she does n ot oan
in no way affaot any Cleveland bank, excepting the one whloh holds
her paper.
This statement Is made for the purpose of correcting any wrong In­
ferences which may have been drawn from recent articles or cartoons
In Cleveland papers anent the Chadwick affair. (Signed)
J. J. Sullivan, President Cleveland Clearing House Association.
Central National Bank, by J. J. Sullivan, President.
National Bank of Commeroe, N. A ., George A. Garreteon, President.
Union National Bank, by E. H. Bourne, President.
Euclid Park National Bank, by John Sherwio, Vioe-President.
First National Bank, by Thomas H. Wilson, Vice-President.
National Commercial Bank, by L. A Marfey, Cashier.
National City Bank, by John F. Whltelaw, President.
Cleveland National Bank, by T. W . Hill, Cashier.
Society for Savings, by A . L. Withington, Treasurer.
Oit zsns’ Savings & Trust Company, by H. B. New com b, President.
Cleveland Trust Company, by E. G. Xlllotson, Viee President and
Manager.
Guardian Savings & Trust Company, by H. P. Holntosh, President.
Dime Savings & Banking Company, by Charles A, Post, Preside at,

—The Columbia Savings & Trust Company o f Pittsburgh
has taken a lease o f the first floor o f the bu ildin g at the c o r ­
ner o f Fourth Avenue and Smithfleld street, where it w ill
open about the middle o f the current month. The quarters
were form erly occupied by the C olum bia National Bank, and
the lease includes the purchase o f the various appointments,
such as safes, vaults, counters, etc. The Colum bia Savings &
Trust Company was chartered in A ugust with $200,000 cap­
ital, througfi the efforts o f ex-M ayor W illiam J. Diehl.
—The Wade Park Banking Company of Cleveland, Ouio,
publishes as an advertisement a statement o f its condition
December 1, as shown by examination made by the A u d it
Company of Cleveland. T£e bank, as we reported last week,
on account o f the withdrawal o f some of its savings a c­
counts, decided to avail o f its right to require sixty days’ n o­
tice before paying out deposits. From the statement just
prepared it appears that the institution has surplus and un­
divided profits o f $99,018.
The remarks of the A udit Company w ith regard to the
collateral loans and discounts held by the bank, and which
aggregate $707,271, are quoted herewith : “ Contains tw o
notes o f Cassie L. Chadwick, as follow s: March 14 1908,
$4,950; July 9 1903, $12,500, on w hich $625 has been paid.
The bank holds securities as collateral to these loans w hich
aggregate within 10 per cent o f the face o f the loans. W e
believe all other loans are sufficiently secured and that the
discounts are a good line. The notes and collateral were
called for and produced and tallied out correctly."
— It has been decided to make the capital o f the propoled
Capital Savings & Trust Company o f Columbus, Ohio, $400,000 instead o f $200,000 as originally intended. There is talk
of a possible merger with one o f the older banking institu­
tions.

—The consolidation o f the Central Savings Bank Company
and the A kron Trust Company o f Akron, Ohio, under the
—The organization o f the Union National Bank of M c­ name o f the Central Savings & Trust Company, went into
Keesport, Pa., w hich was approved by the Comptroller sev­ effect on the 5th ult, The new com pany, as previously noted,
eral weeks ago, has been com pleted w ith the election o f offi­ has $100,000 capital and $100,030 surplus, Deposits are a little
cers as follow s: President, A . B. Campbell; Vice-President, over $1,000,000. The officers are Mr. W ill Christy, President;
Philip Zenn, and Cashier, R obert M. Baldridge. The bank M. Otis Hower and H. H . Gibbs, Vice-Presidents; J. S. Ben­
is to open about the first o f the year, Mr. Campbell and Mr. ner Secretary and E R Held Treasurer,
—The Am erican Banking Company, lately organized with
Baldridge have both been connected in an official capacity
$100,000 capital, opened in Sandusky, Oaio, on the 1st inst,
with the National Bank o f M cKeesport.
—Mr, Eugene Zimmerman, President o f the Cincinnati
Ham ilton & Dayton R y., has been elected a director o f the
Merchants’ National Bank o f Cincinnati. Mr. Z mmerman
succeeds Mr. M. B. Farrin, who retired on account o f the

—Under the name o f the A m erican Trust & Savings C om .
pany a new financial institution has been organized in
Evansville, Ind. The officers have contracted fo r a new
bank building, to be erected on property purchased by the

D eo . 10. 1904. |

THE CHRONICLE.

2617

company at the corner of Main and Sixth streets. It will
be ready for occupancy within six months. Mr. E. O.
Hipkins, whose father was President of the First National
Bank of Evansville for twenty years, has been elected
President of the new company. Mr. M. S. Sonntag has
been chosen Vice-President and Mr. W. J. Lewis, Secretary
and Treasurer. The board of directors consists of the three
officers named above and the following : August Rosenberger, Christ. Kanzler, W. H. McCurdy, Wilbur Erskine,
J. H. Moore and Clifford Shapbell.

—The American Trust & Savings Bank of Chicago holds
the option of purchase at a satisfactory price of the northeast
corner of Monroe and Clark streets, upon which property it
plans to erect a handsome bank building for its own use.
Bat before determining absolutely on the style of structure,
whether “ skyscraper ” or low building devoted exclusively
to the bank’s uses, answer is awaited of acceptance or rejec­
tion of a liberal offer made for the adj lin in g lot on Clark
Street. If this is obtaiuei, the plot of ground will measure
90 feet on Monroe and 125 feet on Clark, and the American
—
An application to organize the Terre Haute National Trust & Savings will probably erect a costly offi ie building
Bank of Terre Haute, led., was approved by the Comptroller of many stories, reserving the full area of the first and second
on the 1st inst. The officers of the National State Bank of floors for its various departments,
Terre Haute, whose charter, as noted last week, is not to be
—The directors of the Western Trust & Savings Bank of
renewed at expiration next month, are interested in the new Chicago, have declared the regular quarterly dividend of 1%
institution, which is to have a capital of $300,000.
per cent, payable Jan. 2 to stockholders of record Dec. 31,
—Particulars as to the re-arraugement of the official force This bank has shown a steady growth in volume of business
of the First National Bank of Chicago, with the inaugura­ ever since it passed under its present management. Con­
tion of the proposed system of specialization of credits spicuous features in the progress of this financial institution
whichistogo into effect o i January 1, have been made are its savings and bond departments, both of which have
public. By the new method, it will be remembered, the developed rapidly.
bank’s customers are to be divided according to the class of
business, instead of alphabetically. Each of the six divisions
into which the various trades have been grouped is to be
presided over by a manager, who will also have an assistant,
the arrangement being as follows:

—The directors of the National Bank of North America,
Chicago, distributed $1,000,000 oi the 6th inst, in the form of
a dividend in liquidation of $50 a share on the bank’s capital
stock of $2,000,000, The dividend was payable to stock­
holders of record D aeember 5.

D I V IS I O N A .

—Preliminary steps have been taken to organize the
United States Bank & Trust Company of Chicago, with a
capital and surplus of $1,000,000 each. A little less than a
year ago it was announced that a savings bank and trustcompany, with a similar name, the United States Trust &
Savings Bank, was to be organized in Chicago with $1,000,C Dcapital and surplus of $250,000. Some months later, in
O
April of the present year, it was reported that the project
had been abandoned, for the time being at least. From the
names of those thus far mentioned as interested in the
present venture, it is inferred that there is no connection
between the two projects. Mr. L M, Martin is chairman of
the organization committee.

D. R, Forgan, Vice President, in charge, with E. 8. Thomas, Assist­
ant Manager.
1. C ollateral, stookB and bonds,
si. Grain, Hour and feed.
3. Meat products, live stock com m ission.
4. Coal.
5. D octors and lawyers.
D I V IS I O N B .

George D. Boulton, Yio8-Presidcnt, in oharge, with Frank E. Brown,
Assistant Manager.
1.
2.
3.
4.
5.
6.

D ry goods, m illinery.'
w o o le n s, clothing, cloaks.
Furnishing goods, hats and caps.
iJewelry and m erchandising sunarias.
T ransportation.
Ladies.
D I V IS I O N C.

Howard H. Hlcchoook, Vice President, in oharge, with Charles N.
Gillett, Assistant Manager.
1.
2.
3.
4.

A gricultural im plem ents, buggies, autom obiles and other veh icles.
Iron and steel products.
Lum ber, furnitu re, etc.
M anufacturing sundries.
D I V IS I O N D .

Richard J. Street, Manager, in charge, with Frank O. Wetmore,
Cashier.
1. Stone, brick, cem ent, contractors.
2. W all paper, paintB, oil, glass, etc.

3. Boots, shoes, leather, hides and w ool.

4. Real estate and insurance.
5. Publishing, printing, engraving and paper.
6. Sundries.

—Mr. Charles F. Ilsley, President of the Marshall & Ilsley
Bank of Milwaukee, died on Sunday last, aged seventy-seven
years.
—The death of another Milwaukee banker occurred last
week, Mr. David Ferguson, formerly Vice-President of the
old Wisoonsin Marine & Fire Insurance Company Bank,
having died on the 1st inst. The institution is now known
as the Marine National Bank.

D I V IS I O N E .

—The First National Bank of Nashville has accepted plans
for a new twelve-story building which it will erect at the
1. W holesale and retail liquors, brewers and brew ers’ supplies,
corner of Church and Cherry streets. Fitted throughout
2. T ob a cco.
3. P rodu ce com m ission and cold storage.
with all the latest electric appliances and of fire-proof con­
4. Groceries, drugs, restaurants, bakers and hotels.
struction, the building will be of the most approved type of
D I V IS I O N F .
August Blum, Manager, in oharge, with Hebbert W. Brough, Assist' modern office structures. The exterior is to be of brick with
ant Manager.
stone trimmings; the main vestibule and rotunda are to be
1. Banks and bankers
entirely of marble, while the entire building is to be finished
Mr. Richard J. Street, formerly the Cashier, hag, it will be throughout in highly polished mahogany. The bank will
noted, been assigned Manager of one of the Divisions, while utilize the first flior for its own business,
former Assistant Cashier Frank O Wetmore has become
—At the annual meeting on January 10 of the stockholdCashier. The other four Assistant Cashiers, Holmes Hoge,
holders of the Merchants’ National Bank of Savannah, Q-a.,
August Blum, Frank E. Brown and Charles N. Grillett, have
a reduction in the capital from $590,000 to $250,000 will be
been made either Managers or Assistant Managers under the
acted upon. In making the reduction, shareholders will be
new plan. Besides the above ohange3, which apply to loans
given $115 for each $100 share retired. Payment will be
and credits, a division of the ‘operating machinery into six
as follows: $15 per share in cash and the remainder in
departments has been made. These departments, with the
four instalments of $25 each, to be paid respectively in three,
officers, have been arranged as below.
six, nine and twelve months. Certificates of deposit, with
L A W DEPAHTM ENT.
interest at the rate of 5 per cent per annum, will be issued
Orville Peckham, Attorney; James D. Woley, Assistant Attorney.
for the deferred payments.
Holmes Hoge, Manager, in oharge, with Charles H. Newhall, Assist­
ant Manager.

BOND DEPARTM EN T.

—As a result of a proposition made by the Union Bank &
Trust Company of Meridian, Miss., to the stockholders of
the National Bank of Meridian, the organization of the latter
Fred. I. Kent., M anager; John J. Arnold, Assistant Manager
will be abandoned. The Comptroller sanctioned the appli­
A U D IT IN G D E P A R T M E N T .
cation to organize the National Bank of Meridian on the 7th
M. D. Wltkowdby, Auditor.
of last month, and it was stated that the capital would be
C B B D IT A N D S T A T IS T IC S .
between $200,000 aud $300,000. An agreement was made at
Henry A, Howland, Manager.
a meeting last week for the surrender of the charter to the
C L E R IC A L AN D B O O K K E E P IN G .
William H. Monroe, Assistant Cashier.
Union Bank & Trust Company, in exchange for which the
All of the beads aud assistant heads of the divisions aud de­ stockholders of the Bank of Meridian will receive $140,000 in
stock of the Union Bank & Trust Company, this institution
partments, it is stated, are officers of the bank.
Emile K. Boisot, Manager.
\

F O R E IG N E X C H A N G E D E P A R T M E N T .

•2(j 18

increasing its capital for the purpose from $150,000 to $800,000. The arrangement will go into effect on February 1,
—The property of the Bank of Commerce, at the corner of
nineteenth Street and First Avenue, Bessemer, Ala., has
been sold by the Receiver, This institution closed in June
1908 as a result of the suspension (on account of a shortage)
of the Bessemer Savings Bank of Bessemer. No dividends
have
been paid by either, owing to the litigation pending
betwee' -jihe receivers of the two banks.
— The '
of Second Vice-President of the Whitney Na­
tional Baha of New Orleans, La., was created at a meeting
of the directors on the 22d ult., and Mr. John E, Bouden Jr.
was elected to fill the same. Mr. John B, Ferguson has re­
placed Mr. Bouden as Assistant Cashier.
—The progress made by the Fidelity Trust Company of
Tacoma, Wash., during the past three years is set out in a
little comparative statement shown in conjunction with the
report of November. Deposits are now $1,712,654; a year
ago the amount was only $1,477,289 ; two years ago -o n Nov­
ember 10 1902—but $1,045,175, while in 1901 the aggregate
was no more than $768,940. The affairs of the institution are
guided by Mr. J. C. Ainsworth, President ; Jno. S. Baker
and P. C. Kauffman, Vice-Presidents ; Arthur G. Pritchard,
Cashier; F. P. Haskell Jr., Assistant Cashier, and George
Browne, Secretary.
—The report of the proceedings of the eighty-seventh an­
nual meeting of the shareholders of the Bank of Montreal,
held in Montreal on Monday, which is published at length
in another column, gives a good insight into the business
conditions in Canada. Mr. E. C. Clouston, the General Man­
ager, in his address, advances reasons for the belief that Can­
ada has entered upon an era of great and enduring pros­
perity. The usual dividend of 10 per cent was paid on the
$14,000,000 of capital stock from the profits for the year end­
ing Oct. 31 1904.

DEBT 8 TATEMENT NO VEMBER SO, 190.4.
The following statements of the public debt and Treasury
cash holdings of the United States are made up from official
figures issued Nov. 30, 1904. F or statem ent o f Cct, 31, 1904,
see C h r o n i c l e N ov . 12,1904, page 2126; th at o f Nov. 30, 1908,
see Dec. 26, 1903, p a g e 2370.
INTEREST-BEARING DEBT NOVEMBER 80. 1904.
In terest Amount
.--------- Amount Outstanding.----------,
Title o f Loan— payable, issued.
Registered. Coupon.
Iota*
S
i
t
S
28. Consol* Of 1980......Q . - J . 542,909,960
634,290.600 8,819,350 642,909,950
3*. Loan Of 1908-1918..Q .-P . 198,792,660
42,754,780 34,378.680
77,185,360
4», Funded loan, 1907..Q .-J. 740,929,000 116,045,400 40,548,250 166,593,050
4s Refund’*?certlflo’s.Q.—J. 40,012,760
— ....
28.610
4s, Loan o f 1 9 2 5 .......Q.—F. 162,315,400
92.288,060 26,201,850 118,489,900
Agg’te Int.-Bearing D ebt.1.684,959,760 785,380,830 109,748,039
895,157,470
Note —Denominations o f Bonds are :
Of 110 only refunding certificates: o f $20 loan o f 1908 coupon and registered:
Of $50 all Issues except 3s o f 1908; o f $100 all Issues;
Of $500 all except 5s o f 1904 coup.; o f $1,000 all Issues;
Of $5,000 all registe’d 2s,8s and 4s; o f $10,000 all registered bonds;
Of $20,000 reglst. 4s loan o f 1907; o f $50,000 registered 2s o f 1980.
DEBT ON WHICH INTEREST H A8 CEASED SINCE MATURITY
Oct. 31.
Nov. 80

Funded Loan o f 1891 .continued at 2 percent, called
May 18„ 1900; interest ceased August 18,1900
Funded Loan o f 1891, matured September 2 1891..
Loan o f 1904, matured February 2,1904 .. ...............
Old debt matured prior to Jan. 1,1861....................

$88,20000
46,000 00
549,950 00
948,660 26

$88,200 O
S
46,000 00
417,850 00
948,650 26

D ebton whlohtnterest has ceased.....................$1,627,700 26

$1 495,400 26

DEBT BEARING NO INTEREST.
Dnlted States notes.............................................................................$346,681,01600
Old demand notes................................................................... .............
68,84750
National bank notes—Redemption account.................................... 32.829.877 00
Fraotlonalourrenoy.less $8,375,934 estlm ’d as lost or destroyed 6,868.464 88
Aggregate o f deb t baarlD g no 1nterest.

$885,032,7(5 38

RECAPITULATION.
Nov. 30, 1904.
Oct. 31,1904,
Inc. or Dec
Classification of D ebt—
i
t
i
nterest-bearlng debt........ 896,157,470 00 896,157,770 00 Dec.
300 00
Debt, Interest oeased.........
1,496,400 26
1,627.700 26 Deo. 182,300 oo
Debt bearing no In terest..
886,932,70688
886,854,079 88 Deo. 422,874 00
Total gross debt............ 1,282,685,575 64 1,288,140,449 64 D eo. 654,874 01
Cash balance In Treasury*. 293,344,658 03 296,352,797 23 D eo. 8,008,130 20
Total n et d e b t............... 989 210,917 61

[VOL. LXX1X.

TH E CHRONICLE.

980,787 662 41 Ino. 2,463 295 20

Inoludlng$160,000,000 reserve fu n d .

The foregoing figures show a gross debt on Nov. 8 0 ,19C4,
of $1,282,585,575 01 and a net debt (gross debt less net cash
in the Treasury) of $989,240,917 61
T r e a s u r y C a s h a n d D e m a n d L i a b i l i t i e s . — The cash
holdings of the Government as the items stood Nov, 80 we
have prepared from the Treasury statement of that date,

ASHklB.

Trust Fund Holdings—

G old c o in ............................ $680,78 ) 969 00
8 llv e r d o lla r s .................... 477,320,000 00
S llv e r d o lla r s o f 180 0 ....
9,860/97 00
811ver b u llio n o f 1 80 0 ...
1,970,303 00
T o ta l tru st f u n d s .. ..$1,019,431,969 oo

General Fund Holdings—

T ru st F un d L ia b ilities—

Gold certificates............$580,780,969 00

S ilv e r ce r tifica te s ............ 477/20,000 06
T re a s u ry n o t e s o f 1890.. 11,881 000 00
T o t . t r u s t llabtllties..$l,019,4.31,969 00

Gen. Fund Liabilities—

G old c o in and b u llio n .,, $29,184 ,114 63 N a tion a l b a n k 6 p e r c e n t
G old ce r tific a te s ....... .
00,678, 600 00
f u n d , . . . , .......................... $17,687,74135
S ilv e r c e r t if ic a t e s - .........
5,785 658 00
S ilv er d o lla rs.....................
692 010 00 O u tstan d in g c h e ck s and
d ra fts ..........................
12,085,047 05
S llv e rb u lllo n .....................
2,706 313 72
U nited S ta te s n o t e s .......
4,057. 379 00 D isbu rsin g o ffice rs ’ b a l­
a n c e s ................
50.771,445 64
.070 00
T re a su ry n o te s o f 1890..
44,
N ational bank n o t e s ___ 12,294,,003 00 P o s t Office D e p a rtm e n t
a c c o u n t ............................
5,072.625 53
F ra ction a l s ilv e r o o l n . ..
9,808 .023 44
187 16 M isce lla n e o u s Item s, —
F ra ctio n a l o u r r e n c y ___
1,676,544 78
M in or c o m . .......................
684 .817 00
T o ta l g e n . lia b ilitie s.. $1-3.748.304 35
B onds and In te re s t p a id
26.,830 05
T o t. In S n b -T rea sa rles.8119.884,803 94
In N at. B ank D e p o sita rie s—
C r e d it T r e a s n r e r o f U .8.$.03,266,620 67
C red it U .S .d lB b .o fflo e rs
8.7-5,868 28
T o ta l In b an k s............. $112 ,041,48086
Cash Balanced: Reserve—
In T re a s o f P hilip p in e Isld s.—
Credit T reasurer or U 8. $2,727,372 07 T o ta l cash and r e s e rv e . .$203,344,868 03
M ad e up o f —
C redit U. S. disb. officers.
2,484,297 60
A v a ila b le . .$148,344,658 03
T o ta l in P h ilip p in e s.. $6,211,669 67
and
R e se rv e F un d
Reserve Fund Holdings—
G o ld & bnlL$160,000.000 00___________
G old c o i n a n d b u l l io n ... $160,000,000 00
$1,406 519,981 38
G ran d to ta l.
$1,4^,6,519,931 38
G rand total.

f&OTtetarvjl € om m crcu fEn glisft JXcwfi
[F rom our ow n correspo ident.]
L o n d o n , Saturday, November 26, 1904.
There is a somewhat more hopeful feeling than there has
been since the Dogger Bank outrage, especially amongst the
best informed in the city. Until this week a good deal of
anxiety existed, for at times it appeared as if the war party
in Russia would gain the upper hand and would refuse the
reparation which this country insisted upon. Now, however,
it is believed that the war party has lost ground and that a
satisfactory arrangement is on the point of being concluded.
There is, therefore, more inclination to operate, but it is held
in check by the uncertainty regarding the money market.
Some of the banks have already begun to call in loans from
the open market for the purpose of makiDg it appear that
they habitually keep larger reserves than they actually do.
Consequently, as the week draws to a close money has been
somewhat more scarce, and there is uncertainty whether it
may not continue scarce and dear for the rest of the year.
In addition to this, it is believed that the negotiations for
a new Russian loan are almost completed, and there are
doubts whether gold may not be taken both by France and
Germany in preparation for the issue. Nor is it to be for­
gotten that as long as the Russian Baltic fleet is at sea there
will continue to be some apprehension. Upon the Continent
there is somewhat less activity this week. Partly it is due,
perhaps, to preparations for the coming Russian loan; partly
in France it is caused by internal politics. There are doubts
whether the Combes Cabinet can last very long. Even if it
does the bill for imposing an income tax is expected to be in­
troduced almost immediately, and the measure is not at all
agreeable to the investing classes. Then again the Combes
administration bas decided upon the separation of Chnrch
and State, and that may revive strong clerical agitation in
France.
In Germany trade is exceedingly active, and there is a
strong demand for money, as is proved by the large amount
of gold Germany has taken recently. But on the Stock Ex­
change business has been somewhat quieter this week, partly
because there is some uncertainty as to what may be the im­
mediate oourse of the American market, and partly because
business is quieter both in London and in Paris.
The American department of the London Stock Exchange
has been fairly active, although there is even there a good
deal of difference of opinion as to what is likely to be the
immediate course of the market. The more cautions opera­
tors think that the rise in Amerioan securities has proceeded
so far that a reaction must occur before loDg. Others, on
the other hand, point to the excellent crops, the sound state
of trade, the great prosperity the country has had for a long
time, and infer, therefore, that the rise will be carried far­
ther. Both sides agree that whether there is or is not a set­
back soon, there is sure to be an active and rising market fox
a long time to oome.
There is also a more hopeful feeling in the mining market.
But the market for consols and other high-class securities is
dull. So also is the market for British railway stocks. There
is a fear, as already said, that money may be both scarce
and dear during December, and therefore few are inclined to

D ec). 10, 1904.]

invest m tnoso, especially as tfcie traffic returns just now are
unfavorable. The best opinion in the city, however, is that
the new year will see a decided improvement both in British
Government securities and in British railway stocks. Every­
body expects that money will become plentiful and cheap
then, and that always tends to raise the prices of first-class
securities. Moreover, the labor difficulty in the Transvaal
is being rapidly overcome, and it seems reasonably certain
that the production of gold will now go on steadily increas­
ing every month.
The directors of the Bank of England did not raise their
rate of discount on Thursday. It was hardly expected that
they would, yet the market would not have bean in the least
surprised had they done so. The best opinion still is that
it will not be necessary to raise the rate. But many people
think otherwise. Probably the action of the directors will
be determinined by the course of events in New York and
by the action of the Russian Government. That gold will
be taken both for Argentina and for Egypt is known, and as
it is needed by both countries, a rise in the Bank rate would
not prevent if. Therefore, the Argentine and the Egyptian
demands will not have much influence with the Bank of
England. It is generally understood that neither Franoe nor
Germany will take gold from the Bank of England in prepa­
ration for the Russian loan. Therefore the directors will
not raise tbeir rate unless a demand arises either for Russia
or for the United States. There seems to be no reason why
Russia should take gold from London, for she has large bal­
ances both in Paris and Berlin, and she is about to raise a
large loan, Still, nobody knows what Russia may do, and
there is an unexpressed fear that she may withdraw so much
gold as will compel the directors to act. Another fear is
that the shipments of gold from New York to France, Ger­
many and Cuba may make money scarce and dear in New
York, and that then measures may be taken to divert the de­
mand from New York to London, in which case it would be
necessary for the Bank of England to take steps to protect
its reserve.
There are many reports respecting the coming Russian
loan, but nothing is really known, for the arrangements are
not yet completed. One statement is that the loan will be
in the form of seven-year notes bearing interest at 5 per cent,
and that it will amount to 48 millions sterling, and will be
brought out in Germany alone. Another report is that the
amount will be 52 millions sterling, and that only 20 mil­
lions sterling wili be placed in Germany, while 82 millions
sterling will be placed in France. Whatever may be finally
settled, it is everywhere understood that the loan will not
be brought out until January, and hence it is not likely to
much affect the London money market.
The India Council offered for tender on Wednesnay 100
lacs of its drafts, and the applications exceeded 688 lacs, at
prices ranging fpom Is. 4 1 16d. to Is. 43^4. per rupee. Ap­
plicants for bills at Is. 4 l-16d. and for telegraphic transfers
at Is. 4 3-16d. per rupee were allotted about 15 per cent of
the amounts applied for.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c.,
compared with the last three years :
1904
1901.
1902.
1903.
Nov. 23
Nov. 27.
Nov. 28.
Nov. 25.
*
«
*
s
Circulation................................... 21,489,810 28,202,165 28,731,310 29,284,650
0,8f 0,693 12,914,669 10,370.900
Public deposits........................... 8,700,648
Other deposits............................. 38,334,621 37,696,517 89,458,023 40,290,072
Government securities.............. 16,610,<0B 15,756,553 17,612,457 17,526,202
Other securities.......................... 25 488,217 24,507,733 30,37 «, 083 27,215.460
Reserve of notes and coin........ 23,816,843 22,141,071 22.398,561 23,860,427
Coin & bullion, both departm’ts 32,855,053 31,893,233 82,064.871 85,370,277
43 15-10
60 %
Prop, reserve to liabilities, p. c.
49%
42%
4
4
Bant rate............. ......percent.
3
02 11-10
88 %
Consols, 2% per cen t.................. 88 3-16
91%
25%d.
Stiver............................................
27%a
27%d.
2l%d.
Clearing-House returns.............176,593.000 159,020,000 171,012,000 167.734,000

The ratss for money have been as follows :
a
London *
£

tntsrsst allows*
fordeposittps
Jrade Bills. Joinr Mi’l R ’t
Bank Bills.
Stool At [7-14
3 Months. * Months 0 Months. 3 Mos. 4 Mot. Banki Jail Days

Oct. 28 8
Nov. 4 3

11 8
18 3
25 3

Messrs. Pixley & Abell write as follows under date of
November 24, 1904:
Gold—Supplies this week have been small, and all have again been
taken by Germany; hut the demand is less keen n >w, having to a great
extent been supplied by shipments from Hew York. We quote the
price tgd lower on the week; £900,000 has been withdrawn from the
Bank, of which £580,000 went to Argentine and £100,000 to
Egypt; £25,000 has been paid in from Australia; £650,000, chiefly
in bars, from South Africa is expected on Monday. Arrivals: Capa
Town, £196,000; Australia, £98.000; VeraCruz, £2,000; OhU"» £ 2 ,0 0 0 .
Total, £268,000. Shipments: River Plate, £570,000; Bombay, £ 5 0 ,000; Calcutta, £19,000. Total, £639,000.
Silver—There has been an active market In silver. C e partly to a
demand from Shanghai on the sharp advance in their- exchange, but
mainly to extensive covering orders by “ shorts” for this rSonth. In
consequence of these orders the spot price advanced rapidly to 27 1
4d.,
while forw ard has scarcely moved and remains at 26 5si. To-day, th e
scot demand being largely satisfied, there has been a reaction to 27d.
for oash, and we close unsettled at that price; while forward remains
at 2 6 s8d., and is tne better market of the two. India has been practi­
cally out o f the market and quotes 683s. Arrivals: New York, £88.00 0;
Australia, £5,000; Chile, £< ,000. Total, £94,000. Shipments : Bom­
bay, £78,103; Calcutta, £56,100. Tota', £ 134,200.
Mexican Dollars have advanced to 27d. on the proposed changes of
currency to a gold basis, the proposals for whloh include the closing
of the mints to the free coinage of dollars except for export, and to
establish the dollar on a basis of 24% 1. Transactions have been few.

The quotations for bullion are reported as follows:
Go l d .
L on don Standard.

Nov.
24.

Bar gold, fine___oz.
U. S. gold ooin...oz.
Germ’ n gold ooin.oz,
French gold ooln.cz.
Japanese yen___ oz.

s. d.
77 11
76 6
*76 6
*76 6
‘ 76 6

* Nominal.

8
2%@S
8
3

3
8®3%
3@3%
3
3@8%

2%@3
3
8%®2 5-16
3
3@8M

8%
8%
8%
3W
8%

8%
3M®3%
3M@3%
3)4
8%

1%
1%
1%
1%
IU

1%
1%
1%
2
2

1«
1%
m

2%
2%

The Bank rate of discount and open market rates at the
chief Continental cities have been a3 follows :
R atss o t
Interest at
P aru ...............
Berlin. ...........
Hamburg........
Frankfort........
Amiterdam....
Bra»»eli...........
Vienna............
St. Petersburg.
Madrid.............
■Cooenhauen. .

Nov 20.

Nov 19

Nov. 12.

Nov. 5.

Nov.
17.

8
5

6
5

8
3

8%
5%
4%
4%

2 11-10
8%
3%
3%
216-16
2%
3%
nora.

8

3

6
5
5
8
3
8%
5%
4%
4%

2%
4M
4%
215-10
2%
3%
nom.

8
4%

8
e

6
6
3

8
8%
5%
4%
4%

2 9-10
4
4
4
2%
2%
3%
nom.
8
4%

Bank Oven
Bate. Market

8
5
5
5
8
8
3%
6%
4%
4%

2 B-10
4%
4%
4%

8
2%
8%
nom.

8
4%

Nov.
24

s. d.
d.
77 11% Bar silver,fine...oz 27
76 6%
Do 2 mo. delivery 2058
*76 0% Bar silver,contain’g
5 grs. g o ld ....o z. 27%
*76 6
4 grs g o ld ....o z. i ' 5ie
*76 6%
3 grs. gold___oz 27%
Cake silver......... oz 29116
Mexican dollars.oz. *27

IMPORTS.
1908-4.
1904-5.
Imp’ts o f wheat, owt.26.807,100 23,508,109
Barley........................... 7,909,300 11,554,641
3,639,527
O ats............. ................. 3,210,300
709,739
P eas.............
559,251
Beans....................
459,521
753,103
Indian oorn............. ..11 ,560,800 14,841,178
5,642,823
F l o u r ................
2,777,900

Nov.
17.
d.
26%
26%
27%
27316
27
2816I8
‘ 26

1902-3.
22,096.379
10,840,105
4,557,719
419,657
636,145
7,962,245
4,794,511

1901 2.
15,255,200
7.785.000
4,830,100
476,100
615,000
9.673.000
5,412,300

Supplies available for consumption (exclusive of stock
on September 1):
1904-5,
Wheat imported, cwt .26.807,100
Imports of flour......... 2,777,900
8ales of home-grown. 4,475,777

1903-4.
23,508,109
6,642,823
5,037,145

Total........................34,060,777 34,188,077
Aver.price wheat, week. 30s. 2d.
26s. 9d.
Average price, season.30s. 2d.
27s. 2d.

1902-3.
22,096,379
4,794,511
5,946,618

1901-2.
15,255,200
5,412,300
7,564,149

34,837.538 21,231,649
24s, l i d .
27s. Id .
26s. 2d.
26s. Od.

The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom :
This w eek.
Wheat . . . . . . . . qrs. 2,895,000
Flour, equal to qrs.
175,000
Maize. ...............qrs. 1,080,000

L a st w eek.
2,865.000
165,000
1,080,')00

1903-4.
1,355,000
365.000
930.000

1902-3
1,930,000
315.000
505.000

The British imports since Jan, 1 have been as follows:
I mports .
Jan u ary...___
February........ . . . .
Maroh............. . . . .
April................ .......
May.................. . . . .
June................ . . . .
J u ly ................ . . . .
August............. . . . .
September___ . . . .
October.........

1904.
£
44.110,519
48,692,275
45,181,763
44,780,098
43,196,784
40,956,601
42,439,943
43,074,006

Ten months. ....4 4 7 ,8 7 5 ,4 4 7

1903.
£
46,226,515
40,560,585
46.916,524
43,802,327
41,915,106
41,295.550
45,653,320
42,761,456
45,451,184
47,758,188
441,904,658

D ifferen ce.
£
P er Ot.
—232,652
-0 -5
+ 8-7
+ 3 ,5 4 9 ,9 3 4
+ 3-8
+ 1,775,761
+ 3 ‘1
+ 1,379,436
+ 2,864,992
+ 6-6
+ 1,901,234
+ 4 -6
—4,696,719 - 1 0 3
—0 7
—321,513
-5 -2
—2,377,178
+37
+ 1,769,637
+ 5,970,789

+ 1 -3

The exports since Jan. 1 have been as follows:
Expo rts.
January....................
February..................
March.......................
April..........................
May............................
June...........................
July...........................
Augnst.....................
September..............
October....................

1904.
£
24,083,365
23,894,813
24,251,796
23,484.834
24,332,089
24,069,770
24,783,582
26,359,880
25,928.659
25,443,687

Ten months....... 246,632,475

1903.
£
24,903,636
22,775,436
25,108,194
23,136,373
24,327,026
22,271,960
25,875,545
25,664.884
23,315,751
25,961,180
243,239,985

D ifferen ce.
Per
£
-3 -3
- 8 2 0 ,2 7 1
+ 1 ,1 1 9 ,3 7 7
+ 4 -9
—3 4
—856,398
+ 1-5
+348,461
+002
+ 5,0 63
+80
+ 1,7 97,8 10
—4-2
—1,091,963
+ 2 -7
+ 694,996
+ 11-2
+2,612,908
—1-6
—417,493

at.

+ 3 ,3 92,4 90

+ 1 -4

The re-exports of foreign and colonial produce since Jan, 1
show the following contrast:
1904.

Bank Oven Bank Oven Bank Open
Rate. Marker Rate. Market Bate. Marks

8ILVER.
L on d on Standard.

The following shows the imports of cereal produce into
the United Kingdom during the twelve weeks of the season
compared with previous seasons :

Open Market Bates.

2%@3

26 J 9

TH E CHRONICLE.

£

R r -e x p o r t s .
J a n u a r y .....................

5 ,7 1 2 ,0 0 0

February............... .
Maroh.................... .
April....................... .
May......................... .
J u n e ........................... .
J u ly ....................... .
August................... .
September........... .
Ootober................. .

7,405,341
5,946,649
6,754,370
5,585,686
5,658,959
5,293,714
5,378,489
4,771,996
5,661,373

1903.
£
6,067,718
6,138,328
5,458,353
6,689,064
5,943,553
5,850,852
5,065,518
5,854,912
4,981,573
6,381,457

D ifference.
Per Ot.
£
-3 5 5 ,7 1 8
—5-8
+ 1,207,013 + 20 -8
+ 488,296
+ 8 -9
+ 105,306
+ 2 -5
—352,804
-6 0
—191,893
-3 3
—371,804
-0 -6
-4 7 6 ,4 2 3
—8-1
-2 0 9 ,5 7 7
—4-1
—720,084 —11-2

Ten months....... 58,168,577
58,931,328
—762.751
—1-3
N oth . —The aggregate figures are official. They Indicate that slight
adjustments have been made In the monthly retnrns as Issued.

THE CHRONICLE.

2 (> 2 ()

E n g lla li F in a n c ia l M a r k e t s —P e r C a b le .

The daily closing quotations tor securities, etc., at London
are reported by cable as follows for the week ending Dec. 10:
LONDOH.

Sat.

i f on.

Tuet.

Wed.

Thurt.

277t8
27%
27%
27%
27%
87 %
8 81,6 88
87%
87%
8715 10
885,6
88%a
8 8 31a
8 S%e
98-80 98-72% 98-77% 98-80 98-80
88%
89
89
89%
6
6
6%
5
5%
91%
91
90%
90
86%
106%
106%
100%
105%
106%
1023-8 1 0 2 % 1 0 2 % 1 0 2 %
100%
98
98
98%
97%
98
187%
138%
137%
137
133%
51%
51%
50%
51%
25
25
24%
23%
25
181
180%
180
175%
179
33%
34%
34%
33
33%
80%
90%
88%
89%
89%
41
41%
41%
36%
40%
75%
75%
77%
75%
78%
58%
59%
59
67%
58%
162
163
162%
156%
161
150%
1 51% 149% 148%
,4 5 %
22%
22
23
23
23
36%
34%
33
35
34%
65%
65%
66%
64
65%
44
43
44
43%
44
144
141
144%
144
143%
45%
44%
43%
45%
44%
77%
78
78
78
78%
96
96%
94%
96
96
125
120%
127
125
127%
69%
71%
71%
71%
71%
40%
39
41%
42
41%
45%
46%
45%
46%
46
41%
42
42%
42
42
68%
62%
68%
68%
67%
87%
36%
38%
88%
37%
98
98%
10 0
88
98%
119%
118%
117%
111%
118%
97%
97%
98
98
97%
33%
33%
26%
32%
33%
90%
96%
97%
96%
96%
Wabash.......................... 24%
24%
23%
23
23%
P r e fe r r e d ..................... 47%
45%
48
47%
47

Silver, p er o u n c e ___d.
C onsols.,new , 2% p. ote.
F or a c o o n n t................
FPoh rentes (In Paris) fr.
Spanish 4e......... . ...........
A nacon da Mining........
Atoh. T op , & Santa F e.
P re fe rre d .....................
B altim ore & O h io .........
P re fe rre d .....................
Canadian P aoifle..........
Chesapeake & O h io ___
Ohio. G reat W e ste rn ...
Ohio. Mil. & St. P a n l...
D en. & R io Gr,, co m ___
P re fe rre d .................... .
Erie, c o m m o n ..... . . . . .
1 st p r e f e r r e d .....___
2 d p referred ..............
Illin ois C entral............. .
L ou isville & N ashville.
M exloan C e n tra l......... .
Mo. K an. & T ex ., com ..
P referred .............. .
Nat. R R . o f M ex., l st p f .
N, Y . Cent. & H u d son ..
N, Y . O ntario & W est-.
N orfolk & W e s te r n .....
P re fe rre d ................
N orthern S ecu rities___
P en n sy lv a n ia .................
Phila. & R eadin g * .......
1 st p re fe rre d * ......... .
2 d p r e fe r r e d * .___ ...
Southern P a c i f i c . . . . . . .
Southern R a ilw ., c o m ..
P re fe rre d .....................
U nion P a c ifi c ................
P re fe rre d .....................
U. 8 . Steel C orp., c o m ..
P re fe rre d ......................

Fri.
2 7 U ie
8711,6
87%
98-67%
5%
88

105%
101%
97%
134
47 %
23
174%
32
87
38%
76%
56%
157
145%
21

32%
04
42
141%
44%
78
96
125%
69%
39%
46
42
04%
36
98
113%
97%

[V O L . LXXIX.

7.3 8 4 — The First N ational Bank o f 8argent, N kbraska.
C apital'
$26,000. Frank H. Y oun g, President; W. P. H iggins, V ice
P resident; H. A . Sherman, Cashier; Mary B ldw ell, A ssistan t
Cashier.
7 .3 8 5 — The First National B ank o f G oloonda, Illin ois. C apital, $25,000. W illiam A. W hiteside, Presldeht; Sim V. Olanathan,
V ice-P resident; W illiam H. W hiteside, Cashier.
7 .3 8 6 — The C leveland N ational Bank, C leveland. Oklahom a. C apital,
$25,000. J. H. Sim m ons, P resident; E. 0. M ullendore, VicePresident; L. M. D row n, Cashier.
7.387— The F irst N ational Bank o f Braham , M innesota. Capita),
$25,000. H arry G ranger, P residen t; C. J. Joh n son , V icePresident; N. E. A nderson, Cashier.
7.388— The F irst N ational Bank o f C alistoga, California. C apital,
$ 2 5 , 0 0 0 . ------------------ , President; G. 8. Cutler, Cashier.
7.3 8 9 — The F irst National Bank o f Byars, Indian T erritory. Capital.
$25,000. W. H E ddlem an, P resident; W. C. Kandt, Cashier;
J. W. G illett, V ioe-P resident; Thos. N. B yars, A ssistant
Cashier.
7.3 9 0 — The First National Bank o f F ow ler, California. C apital. $25,000
John D. H lokm an, P resident; W illiam A ndrew P atton ,
V loe-Presldent; J. F. A venel), Cashier.
7.391— The F irst N ational B ank o f N ew ton Palis, Ohio. Capital, $50,000. L. F. M errill, P resident; H. H. P orter, V ice-P resid en t;
H en ry H erbert, Cashier. C onversion o f The N ew ton F ails
B anking C om pany.
7.392— The City N ational B ank o f T exarkan a, T exas. C apital, $100,000. T. H. L eeves, President; R. D. H art, V ice-P resident;

g

q

Barrier Cftsbicr

7.393—

The F irst N ational B ank o f A nsley, Nebraska. C apital, $25,000. Frank H. Y ou n g , President; O. M acK ey, Cashier; T. T.
V arney, A ssistan t Cashier.
7.394— The City N ational B ank o f L am pasas, T exas. Capital, $50,000W . F. Barnes, President: W . P. D arby, V ice-P residen t; H . N.
K e y , Cashier; W. B. M cGee, A ssistant Cashier.

7 395—
The

Old National Bank of New Brighton, Pennsylvania. Capi­
tal, $100,000. Chas, C. Townsend, President; George David­
son, Cashier.
7.396— The Citizens’ National Bank of Shelbyvllle, Illinois. Capital,
$50,000. E. A, Riohardson, President; J, E. Dazey, and D.
F. Riohardson, Vice-Presidents; Thos. Newcomer, Cashier.
7 .3 9 7 —

The F irst N ational B ank o f F ranklin C ounty at D echerd, T en ­

nessee. Capital, $25,000. Lewis B. Davidson, President;
Frank Campbell, Vioe-President; W. H. Featherston, Cashier;
Joe Hessey, Assistant Cashier
7.398— The First National Bank of Lumberton, North Carolina. Capi­
29
tal, $15,000. R. C. Lawrence, President; T. L. Northrop,
91%
Vice-President; H. M. McAllister, Cashier.
22%
7.399— The First National Bank of 8enecavllle,Ohio. Capital, $25,000.
45
C. M. Hutchinson, President; J. M. Gregg, Vioe-President;
Debenture “ B ” .71
71
71
69
69
1 70
, Cashier.
* Price per share.
t December account.
7.400— The Madera National Bank, Madera, Pennsylvania. Capital,
$50,000. James E. Kirk, President; H. B. Swoope and 8. J.
Miller, Vioe-Preeldente; J, A. Kllngensmlth, Acting Cashier.
7.401— The City National Bank of Sioux City, Iowa. Capital, $100,000.
A. T. Bennett, President; Wm. Jepson, Vice-President; A. J.
Wilson, Cashier; F. W. Kemp, Assistant Cashier.
N a t i o n a l B a n k s . —The following Information regarding 7.402— The Farmers’ and Merchants’ National Bank of Franklin, Ken­
tucky. Capital, $25,000. J. M. Crocker, President; John B.
national banks is from the Treasury Department.
FinD, Vice-President; J. 8. Milliken, Cashier.
NAT ION AL BA NKS O R G A N I Z E D .
7.403— The First National Bank of Mason, Ohio. Capital, $25,000.
J. O. Bennett, President; W. R. Magle, Vloe-Presldent; B. L.
Certificates Issued August 15 to December 3, 1904.
Frye, Cashier.
7.362— The First National Bank of Rocky Mount, North Carolina. 7.404— The First National Bank of De Funiak Springs, Florida. Capi­
Capital $25,000. Wm. H. S. Burgwyn, President; Sidney P.
tal, *35,000, W. H. Milton, President; M. M. Morrison, VioeHilliard, Vloe-Presldent; Wm. K. Battle, Cashier.
President; G. B. Campbell, Cashier.
7.363— Parnassus National Bank, Parnassus, Pennsylvania. Capital, 7.405— The Farmers' National Bank of Hickory, Pennsylvania. Capi­
25,000. D. 8. Galley, President; Dunoan MoAllster, Vicetal, $25,000. J. A. Ray, President; Robert M. Wilson and
Tesldent; C. B. Alter, Cashier.
James Caldwell, Vioe-Presldents; Robert R. Hayes, Cashier.
7,364—The First National Bank of Branchville, New Jersey. Capital, 7.406— The Nantiooke National Bank, Nantiooke, Pennsylvania.
$25,000. A. J. Canfield, President; M. D. Hughes, VioeCapital, $100,000. A. A. Enke, President; A. Lape, VioePresldent; M. D. Hayward, Cashier.
President; E. M. Muir, Cashier.
7,365—The Georgetown National Bank, Georgetown, Illinois. Capi­ 7.407— The Farmers’ National Bank of Hubbard, Texas. Capital,
tal, $25,000. R. H. Lewman, President; W. V. Jones, Vice$25,000. H N. Tinker, President; Harvey Peaooek, Cashier;
President; Gordon Grimes, Cashier.
B. C. Roberts, Assistant Cashier.
7,368—The Farmers National Bank of Freeport, Pennsylvania. Capi­ 7.408— The United States National Bank of Denver, Colorado. Capi­
tal, $ “
10,000. T. G. Cornell, President; W. Fred. Turner,Vice
tal, $200,OuO. W. A Hover, President; H-nry T. Rogers and
President; W. A. Jack, Vice-President; D. H. Core, Cashier.
Gordon Jones, Vice Presidents; A. C. Foster, Cashier.
7,387- -The First National Bank of Portage, Pennsylvania. Capital, 7.409— The People’s National Bank of Zelienople, Pennsylvania. Capi­
$25,000. Wallace Sherbine, President; Alfred B. Potterton,
tal, $50,000. C. J. D. Stroheoker, President; W J. LamberVice-President; Wm. K. Swartz, Cashier.
ton, Vloe-Presldent; A. B. Crawford, Cashier; E. P. Young,
Ass^stsut C&6bi6r
7,368—The Caddo National Bank, Caddo, Indian Territory. Capital,
$50,000. E C. Million, President; E. Walters, Vice-Presi­ 7.410— The First National Back of Gorman, Texas. Capital, $30,000.
dent: Jas. Hudspeth, Cashier.
W. H. Eddleman, President; Harry W. Kuteman, Vloe-Presi­
7,369—The First National Bank of Sioux Center, Iowa Capital,
dent; W. A. Waldrop, Cashier; B. R. Waldrop, Assistant
Cftstii6r>
$25,000. O. P. Miller, President; Ohas. Creglow, Vice-Presi­
7.411— The First National Bank of Linton, Indiana. Capital, $50,000.
dent; Neal Mouw, Cashier; G. D. Siemen, Assistant Cashier.
Conversion of The Citizens’ State Bank of Sioux Center.
W. J. Hamilton, President; B. A. Rose, Vioe-President; Wil­
liam Bolton, Cashier.
7,370—The Farmers’ National Bank of Clarksville, Ohio. Capital,
$ 2 5 ,0 0 0 .-----------------, President; I. N. Lair, Cashier.
7.412— The Farmers’ National Bank of Kingman, Kansas. Capital,
$25,000. A. C. Tredlok, President; A. O. Yeoman, Vloe7,371—The Citizens’ National Bank of Thomasville, Alabama. Capi­
Presldent; D. Billings, Cashier. Conversion of the Kingman
tal, $25,000. J .H . Wood, President; J. A. MoNider, ViceStftt© B&nk.
President; J. W. Tucker, Cashier
7,372—The First National Bank of Bellingham, Washington. Capital, 7.413— The First Na’ lonal Bank of McLean, Texas. Capital, $25,000.
R. H. Collier, President; W. E. MoLaughlin, Vioe-President;
$100,000. E. W. Purdy, President; E O. Graves, Vloe-Presl­
C. M. McCullough, Cashier.
dent; C. K. McMillin. Cashier.
7,373—The First National Bank of Bertha, Minnesota. Capital, 7 .4 1 4 — The Runnels County National Bank of Miles, Texas, Capital,
®
$25,000. 8 W. Melneke, President; C. H. Whitaker, Vioe$25,000. F. B. Coon, President;-----------------, Cashier.
President ; W. 8. Davis, Cashier.
7,374—
The People’s National Bank of Bushville, Indiana. Capital,
Amerioan National Bank of La Fayette, Indiana Capital,
$50,000. Edwin Payne, President; Charles A. Mauzy, Vice- 7.415—
$125,000. H. A. Taylor, President; E. F Hay wood, VioePresident; Earl H, Payne, Cashier; Ralph Payne, Assistant
Cashier.
President; W ills. Baugh, Cashier; G. B. Thompson, Assistant
Cashier.
7,375—The Citizens’ National Bank of Tell City, Indiana. Capital,
7.416— The First National Bank of Goff, Kansas. Capital, $25,000.
$30,000. Jno. T. Patrick, President; John W. Scull, VioeL. D. Allen, President; L. A. Corwin, Vloe-Presldent; O. 8.
President; Robt. L. Huelsmann, Cashier; Clyde A. Soull, As­
Goodrich, Cashier.
sistant Cashier.
7,376—The Pittsburg National Bank, Pittsburg, Texas. Capital, 7.417— The First National Bank of Alexander City, Alabama. Capital,
$35,000. Benj. Russell, President; T. C. Russell,Cashier; J.
$25,000. L. R Hal), President; R. A. Morris, Vice-President;
H. Henderson, Assistant Cashier.
8. R. Greer, Cashier.
7,377—The Cando National Bank, Cando, North Dakota. Capital, 7.418— The Amerioan National Bank of San Diego, California. Cap­
ital, $100,000. Lonis J Wilde, President; Charles E. Sum­
$25,000. C. J. Lofgren, President; J. J. McCanna, Vloe-Presner, Vice-President; W. H. Hubbard, cashier
ident; Daniel F. McLaughlin, Cashier.
7,878 - The First National Bank of Merit, Texas. Capital, $25,000. 7.419— The First, National Bank of Blackfoot, Idaho. Capital, $25,000;
Alex Younie, President; E. M. Kennedy, Vice President; C.
K. M. Moore. President;----------------. Cashier.
A. Dobell, Cashier.
7,379—The First National Bank of Mulberry Grove, Illinois. Capital,
$25,COo. R. H. Osborne, President; J. P. Lllligh, Vice-Presi­ 7.420— The First National Bank of Cornish, Indian Territory. Capital,
$25,000. J. J. Clonghley, President; J. H. Cornish, Vicedent; L. A. Osborne, Caphier.
President; J. A Cummins, Cashier.
7,380—The First National Bank of International Falls, Minnesota.
Capital, $25,000. E. W. Backus, President; Wm. F. Brooks, 7.421— The First National Bank of Randolph, Nebraska. Capital,
$50,00(i. James F. Toy, President; Jolin Oliver, Vioe-PresiVloe-Presldent; M. E. Trumer, Cashier.
aent; F. E. Sweeteer, Cashier; J. N. Kuhl, Assistant Cashier.
7,381—The First National Bank of Montpelier, Idaho. Capital, $25,000. Tim. Kinney, President; E. A. Burrell, Vice-President; 7.422— The First Na ional Bank of Brechenridge, Texas. Capital,
$40,000. W. H. Eddleman, President; Claude McCauley and
R. A. Sullivan, Cashier.
W. H. Green, Vice-Presidents; J. W. Ward, Cashier,
7,382—The Farmers’ National Bank of Henderson, Iowa. Capital,
$25,000. A. 8 Panl, President; O. E. Irwin, Vice-President; 7.423— The First National Bank of Graoeville. Florida. Capital,
$25,000. E. N. Dekle, President: G. H. Malone, Vioe Presi­
M. C. Turner, Cashier.
dent; J. A. Davis, Cashier.
7,333—The People’s National Bank of Cherryvale, Kansas. Capital,
$50,000. O. O. Wright, President; B F. Moore, Vice-Presi­ 7.424— The First National Bank of Headland, Alabama Capital,
$25,000. G. H. Malone, (President; A. J. Livingston, Vioedent; Chas. A. Mitohell, Cashier; Geo, L. Brown, Assistant
President; J. J. Espy, Cashier.
Cashier.

©jommtrctal and i^XisceXlaiicaitsIXsms

f

D eo . .10, 1904.1

THE CHRONICLE

2621

7,425—The F irst National Bank o f Emerson, Nebraska. Capital, 7.465— The Union National Bank of Johnstown.Pennsylvania. Capital,
830.000, James. F. Toy, President; Gas A. Ihemberg, Vie©
4>2o®,O©0. Geo. H. Love, President; Wm. H. Sunshine, VicePresident; F. E. Sweetser, Cashier; B oy A. Downs, Assistant
President; Thomas H. Watt, Cashier.
Cashier.
__
_
7.466— The Merkel National Bank, Merkel, Texas. Capital, $25,000.
7,4:26-The Farmer® Rational Bank of Bridgewater, South Dakota.
Jos. H. Warniok, President; J. O. Hamilton, Vice-President;
Capital, 825.000. F. A. McOornaek, President; Alex. H,
Wm. H. Dunning, Cashier.
Mayer, Vice-President; J. H. Anderson, Cashier; E. J. Wipf, 7.467— The First National Bank of Union Springs, Alabama. Capital,
Assistant Cashier.
$50,000. Thos. Edwards, President; O. H. Haynes, Vice7.427— The National Citizens’ Bank of Oanby, Minnesota. Capital,
President; Hugh Foster, Cashier.
850.000, George Fitzsim m ons, P residen t; P. C. Soott, Vice- 7.468— Th© First National Bank of Statesboro, Georgia. Capital, $25,President; 8. J. Forbes, Cashier; P. O. Shennmm, Assistant
OOO. Brooks Simmons, President; J. E. MeOroan, Cashier.
Cashier.
7.469— Th© First National Bank of Montour, Iowa. Capital, $25,000.
7.428— The First National Bank of Cambridge. Minnesota, Capital,
A. B. Taplin, President; B E. Austin Jr., Cashier.
830.000, Hans Engberg, President; D. O. Andarson, Vice- 7.470— The First National Bank of Wey&uwega. Wisconsin. Capital,
President; A. B. Halli®, Cashier.
$25,000, B. H. Edwards, President; Herman Koehler, Vice7.428— The First National Bank of Brundidge, Alabama. Capital,
President; --------------- Cashier.
830,00®. Jae, T. Kamage, President; Burr Bamaga, Vie®- 7.471— The Fredomia National Bank, Fredonia, Pennsylvania. Capi­
President; A. G. Seay, Cashier.
_
tal, $25,000. W. K Moore, President; Lyle W. Orr, Cashier.
7.430— The Ourwensvill© National Bank, Oarwensyille, Pennsylvania. 7.472— Dallas National Bank, Dallas, Oregon. Capital,' $25,000,
Capital, $100,000. f m . H. Sandford, President; Fred. J.
— s -------President; E. B ay-ter, Cashier.
—
Dyer, Vice-President; O. S. Russell, Cashier; Anthony Hil®, 7.473— The Mount Jewett National Bank, Mount Jewett, Pennsyl­
Assistant Cashier.
vania. Capital, $80,000. Morton J. Gallup, President; Ben­
7.431— Th© First National Bank of Commerce, Georgia. Capital,
jamin N. MoOoy,_Vl©e-Pr©eideiit; James G, Arneler, Cashier.
$25,000. W. B. Hardman, President; W. L. Williamson, 7.474— The Bellingham National Bank, Bellingham, Washington.
Capital, $100,000, Victor A . Boeder,President; F. F. HandCashier.
_
7.432— Th© American National Bank o f Stigler, Indian Territory.
sohy, Cashier,
Capital, $25,000. L; C. Farinenter, President; Jay F. Price, 7.475— The First National Bank of Coos Bay at Marshfield, Oregon.
Capital, $25,000,
John B. Coke, President; Walter S.
Cashier.
McFarland, Cashier,
7.433— Del Bio National Bank, Del Bio, Texas. Capital. $50,000.
James MoLymont, President; O. W. Odell, Vice-President; 7.476— Th® First National Bank o f Arcadia, Louisiana. Capital,
L. J. Dodson, Cashier; W. W. Freeman, Assistant Cashier.
$50,000. 8. W. Smith Jr., President; 8. Capers, Vice-Presi­
dent;; J . M. Took®, Cashier; T. H, Taroed, Assistant Cashier.
L
7.434— The First National Bank of Phillips, Wisconsin. Capital,
$25,000. P. 23. Beedal, President; James H. Ball, Vice- 7 .4 7 7 — The Security National Bank of Randolph, Nebraska. Capital,
$50,000. Paul Bool, President; August F. Huwaldt, VicePresident; G, B. Beedal, Cashier.
President; O. H. Randall, Cashier; Fred. M. B a d , Assistant
7.436— The First National Bank o f ' Meeker, Colorado. Capital,
Cashier.
$40,000. O. C. Parks, President; R. Oldland, Vie©-President;
7.478— The Old State National Bank o f Evansville, Indiana. Capital,
E. E. Fordham, Cashier.
$250,000. R, K. Dunkereon, President; Henry Beis, Vice7.436— The National Freehold Banking Company, Freehold. New
President and Cashier.
_
__
Jersey. Capital, $100,000. Chas. E. Hall, President; Wm. H.
Tuthill, Vice-President; H. A. Satphen, Cashier. Conversion 7.479— 'The Gavitt National Bank of Lyons, New York. Capital,
$60,000. Saxon B. Gavitt, President; Saxon B, Gavitt,
o f the Freehold Banking Company. _
Second Cashier.
7.437— The F irst National Bank o f Freeland Park, Indiana. Capital,
$25,000. Thomas G. Vennum, President; A. J. Freeland, 7.480— Th© First Nation®! Bank o f Santa Mari®, California. Capital,
$50,000. Archibald McNeil, President; Reuben Hart, ViceVice-President; G. F. Patterson, Cashier
Presi le n t ; John E. Walker, Cashier.
7.438— The F irst National Bank o f Beardsley, M innesota. Capital,
$25,000. Ohas. B. Westfall. President; Wm. M. Moroney, 7.481— The Farmers’ & Merchants’ National Bank of Merkel. Texas,
Capital, $25,000. J. T. Warren, President; G. F, West. ViceVice-President; J. Mlnklewitz Jr..Cashier.
President; Henry James, Vice-President; T. A. Johnson,
7.439— The Citizens’ N ational Bank o f Q-rinnell, Iowa. Capital,
O )S © ?
S tsjL 3
$60,000. H. W. Spaulding, President; W, F. Vogt, Vice7.482— The Farmers9 National Bank of Seymour, Texas. Capital,
President ; H. F. Lanphere, Cashier.
$30,000. H. P. Branham, President; R. E. Fowlkes, Vice7.440— The National Bank of Pawnee, Illinois.
Capital. f50,©00.
President and Cashier; W. T. Britton, Assistant CashierLemuel M. Babb, President; Leonard S. Matthew, Vice-Presi­
dent; G. W. Lemmon, Cashier; 8. B. Lemmon, Assistant 7.483— The West Winfield National Bank, West Winfield. New York.
Capital, $25,000. E. P. McFarland, President; 0 . L. SouthCashier.
__
7.441— The National Bank of Gallatin Valley, at Bozeman, Montana.
worth, Vice-President; H. H. Wheeler,Cashier; L. B. Wheeler,
Capital, $60,000. J. E. Martin, President; J. A. Hall, ViceAssistant Cashier.
7.484— The Merchants’ & Planters5 National Bank of Syl&eauga, Ala­
President; B E. Brown, Cashier.
bama. Capital, $50,000, J. W. Brown, President; F. H.
7.442— Tl© Merchants’ & Planters’ National Bank of Davis, Indian
Kaupt, Vice-President; H. K. Stockley, Cashier. Conversion
Territory. Capital, f 35,00©. R. L. Freeman, President;
of The People’s Bank of Bylaeauga.
Samuel H. Davie, First-Vice President; Norman L. Hale,
Second Vice-President;; C B. MoOlusky, Cashier j
D. Mc- 7.485— The Greene County National Bank of Hunter, New York. Cap­
ital, $25,000. Hammond M. Shelve, President; John De
Olufeky, Assistant Cashier.
Conrcy Ireland, Vice-President: Edwin A Ham, Cashier.
7.443— The First National Bank of Mound City, Illinois. Capital,
$26,000. Thomas Boyd, President; John F. Welson, Cashier; 7.486— The First National Bank of Bowerston, Ohio. Capital, $25,000. W. B. Penn. President; J. A. McKean, Vice-President;
Granville J. Murphy, Vice-President.
Bert Mann, Cashier,
7.444— The First National Bank of Tomkawa, Oklahoma Territory.
Capital, $25,000. A. J. Each, President; C. B. Brooks, Vice- 7.487— -Ih e National Commercial Bank of Cleveland, Ohio. Capital,
$1,500,000. J. Colwell, President; O. L. Mttrfey, First VicePresident; W. A. Brooks, Cashier. Conversion of the Bank of
President; W. P. Johnson, Second Vice-President; L. A. MarTonk&wa, Oklahoma.
7.445— The Colonial National Bank of CennellsvlUe, Pennsylvania.
fey, Cashier.
Capital. $100,000, L. F. Bath, President; B Marietta and 7.488— The First National Bank of Sykesville, Pennsylvania. Capital,
Edw. K. Dick, Vice-Presidents; H. E, Sohenok, Cashier.
$25,000. Jacob B. Sykes, President; Jehu S Weakland,
7.446— The Commercial National Bank of Washington:, District of
Vice-President; Fred 8. Maize, Cashier.
Columbia. Capital, $300,000. F. C. Stevens, President; B .A . 7.489— Th© First National Bank of Prosser, Washington. Capital,
Chesier and N. H. Shea, Vice-Presidents; Geo. W. White,
$25,000. Nelson Kieh, President; J. W. Carey, Vice-Presi­
Cashier; R. E. Claughton, Assistant Cashier.
dent; P. E Harris, Cashier.
7.447— The Battery Park National Bank o f New York, New York. 7.490— The Morganfietd National Bank, Morganfield; Kentucky. Cap­
Capital, $200,000. E. A. d© Lima, President; E. B. Day,
ital, $2,%0€0. Jiao M, Crowe, President; S. C. Anderson,
Vice President; th is. M. Ellis, Cashier.
Cashier; Geo. 8. Talbot, Assistant Cashier.
7.448— The Oatawlssa National Bank, Oatawissa, Pennsylvania. Cap­ 7.491— The Farmers’ National Bank of Trafalgar, Indiana. Capital,
ita), $50,000. O. J . Fisher, President;---------------- Cashier.
$ 26,000. B Day Willem, President; Frank Hellerick, VicePresident; A. O. Brook. Cashier.
7.449— The National Bank of North Bend, Nebraska. Capita), $25,000.
M. D ow ling, President; T. B. P urcell, V ice P resident; Thos. 7.492— The First National Bank of Eddyvllle, Kentucky. Capital,
$25,000, T. H Malloy, President; James F. Ramsey, Cashier.
H . Fowler, Cashier; H. P Dowling, A ssistant Cashier. Con­
version o f the Bank of North Bend.
7.493— The First National Bank of Kensington, Kansas. Capital,
7.450— Ihe Aetna National Bank of New York, New York. Capital,
$25,000. L. C. Ahlbarn, President; Fred Bieokhoff, VicePresident; Leroy Kennedy, Cashier; R. G. Ahitoor a. Assistant
$200,000,, C. E. Finlay, President; Wm. Hills, Vice-President;
J . Dennison, Cashier.
Cashier.
7.451— The First National Bank of Sylaoaugs, Alabama. Capital, 7.494— The Peoples’ National Bank of Jackson, Missouri. Capital,
$25,000. Wm. B. Schaefer. President; Oliver B. Kinder,
$30,000. B. Russell, President; 8. P. McDonald, Cashier.
Vice President; William Patvr, Cashier.
7.452— The Danvers National Bank. D anvers, Massachusests. Capital,
$100,000. G. A. Tapley, President; B. E. New hali, Cashier.
7,405—Th© First National Bank of Aubrey, Texas Capital, $25,000.
B. B. Samuels. President; H. G. Musgrove, Cashier
7.453— The Dubois National Bank, Dubois, Pennsylvania. Capital,
$100,000. J. E. D uB ois, President; J. A. Gregory, V ioe-Presi­ 7.496— The Citizens’ National Bank of Tipton, Indiana. Capital, $50,dent; 8. C. B ond, Cashier; C. H. Marshall, Assistant Cashier.
<00. Wm. J Miner, President; M. V- B Newcomer, Vice7 .4 5 4 — The Peoples N ational Bank of M ancie, Indiana. C apital, $100,President; F. E. Davis, Cashier; L. G. Sertght, Assistant
000. E dw ard Tuhey, President; W alter Snider, Vice-Presi­
Cashier
dent; Charles H . Ellis, Cashier.
7.497— The Lawtenoeburg National Bank. Lawreneeburg, Kentucky,
7.455— Western National Bank of Mitchell, South Dakota. Capital,
Capital, $100,01-0. C. E. Bond, President; W.-B. Saffall, Vice$50,000. O. E. Oassem, President; L. D. Milne, Vice-Presi­
President; J. M. Johnson, Cashier; E. V. Johnson, Assistant
dent; J. P. M yers, Cashier; W. A . H eim berger, Assistant
Cashier,
_
Cashier
7.498— Th© Merchants’ National Bank of New Orleans, Louisiana.
Capital, $200,000. E. S. Woodfin, President; E. B. Harral,
7 .456— The Ham ilton County N ational Bank o f Oleves, Ohio. Capital,
$25,000. M organ W am sley, President; H. Lee E arly, ViceV ice-P resid en t;---------------- , Cashier; Henry T. Strong, As­
President; W aiter C. Renaker, Cashier.
sistant Cashier.
7.457— The Western National B ank o f L ouisville, K entucky. Capital, 7.499— The Bokehito National Bank, Bokchlto, Indian Territory.
$300,000. W. B. Smith, President; F. A. Henry Jr., ViosCapital, $25,000. 8 T. Bentley, President; A. C. Risner,
President; T. L. Jefferson, Cashier; Louis Metz, Assistant
Vice-President; J B Modrali, Cashier,
Cashier. C onversion o f the W estern Bank o f Louisville.
7 .458— The First N ational Bank o f Johnston C ity, Illinois. Capital,
EXPIBATIO S OP CHASTEE,
$25,000. J. S Lewis, President; O. E. MoOlintook, VicePresident; M. Ozment, Cashier; B. D. Qzm ent Jr., Assistant 3,259 - The N ational Bank of New B righton. P ennsylvania. Succeeded
Cashier; W. J. Bargees, Assistant Cashier.
by the Old National Bank o f N ew B righton, No. 7,396.
7 ,4 6 9 —The F irst N ational Bank o f F ort V alley, Georgia. Capital,
594—The F irst National Bank of Danvers, Massachusetts.
$25,000. W. H. H arris, President; J. O. M cD onald, Cashier.
3,270—The F irst National B a ck o f Beaver Dam , W isconsin. 8eo7 .460— The National Bank o f Jam eeport, M issouri. Capital, $30,000.
ceeded b y The Old N ational Bank of B eaver Dam, No. 7,462.
Thos. K. H ays, President; W. N. Keener, V ice-President; J.
587—The Farm ers’ National Bank o f Lancaster, P ennsylvania, s u c­
H. K lepper, Vice-President; W. J. K lepper, Cashier; S. L.
ceeded by the Farm ers’ Trust Com pany o f Lancaster,
Reece, Assistant Cashier.
807—The Com m ercial National B ank o f Cleveland, Ohio, Succeeded
7.461— The F irst N ational Bank o f MoOomb C ity, M ississippi Capital,
by the National Com m ercial Bank o f Cleveland.
$50,000. J. H. Fulton, President; J. L. M oyse, Vice-President; 3,305—C hestertown National Bank, Ohestertown, Maryland.
O. B. Quin, Cashier.
7.462— The Ola National Bank o f Beaver Dam , W isconsin. Capital,
VOLUNTARY LIQUIDATION,
$80,000. J. 8. R ow ell, President; E C. M oFetridge, VicePresident; J. E. McOiure, Cashier; A . B. Chandler, Assistant
433—The F irst N ational Bank of Cambridge,M aasachusetts,has gone
Cashier.
into volu n tary liqu idation by resolution o i its stockholders
7.463— The First N ational B ank o f M ontezuma, Indiana. Capital,
dated A ugust 6, to take effect A ug, 6 ,1 9 0 4 , being succeeded
$25,000. Wm. H. Sylvester, P resid en t; W illard E . Rupe,
by the H arvard Trust Com pany.
Cashier.
5,600—T he Idaho N ational B a rk o f Lew iston, Idaho, has gone into
7.464— The First National Bank o f Piedm ont, Alabam a. C apital,
volu n ta ry liquidation b y resolution o f its stockholders dated
$25,000. J. W. H aw k e, President; M. B. W ellborn, ViceM ay 17, to take effect Aug. 1 5 ,1 9 0 4 , being su cceeded b y the
President; O. W. Sharpe, Cashier.
C om m ercial TruBt C om pany.

THE CHRONICLE.

2G22

(V O L . L X X IX .

1,419—The N ational W arren Bank, W arren, R h ode Inland, has trone
The Lake C ounty Stats Bank o f E ast C hicago, Indiana, Into The
Into volu n tary liquidation by resolution o f Its stock h old ers First National Bank o f E ast Chicago. C apital, $50,000. This a p p lica ­
dated A u gu st 24, 1904, to take effect on that date. A bsorbed tion is In lieu o f one a p p roved O otober 19, i 9 0 i , for au th ority to o r ­
by the Industrial T rust C om pany o f P rov id en ce, R hode ganize a national bank under the sam e title as su ccessor to the Lake
C ounty State Bank.
Island.
The State Bank o f Edna, K ansas, Into T he F irst National B ank of
673—The First N ational Bank o f W arren, R hode Island, has gone
Into volu n tary liquidation by resolution o f Its stock h olders Edna. C a pita ), $25,000.
dated A ugust 24, 1904, to take effect on that date. A bsorbed
by the Industrial Trust C om pany o f P rovid en ce, R hode
G o v e r n m e n t r e v e n u e a n d E x p e n d i t u r e s . — Through the
Island.
1,008—The N ational H ope B ank o f W arren, R h ode Island, has gone courtesy of theSecretary of the Treasury, we are enabled to
Into volu n tary liquidation b y resolution o f Its stockholders
dated A ugu st 24, 190*, to take effect on that date. A bsorbed place before our readers to-day the details of Government
by the In du strial Trust C om pany o f P ro v id en ce, R h od e
receipts and disbursements for the month of November,
Island.
6 3 8 —The F irst N ational Bank o f L ynn, M assachusetts, has gon e From previous returns we obtain the figures for previous
Into volu n tary liqu idation b y resolu tion o f Its stock h old ers
dated A ugust 3 0 ,1 9 0 4 , to take effect on that date. A b sorbed months, and in that manner complete the statement for
by the E ssex Trust C om pany o f L ynn , M assachusetts.
8 ,6 0 6 —The Ohio V alley N ational Bank o f C incinnati. Ohio, has gone the eleven months of the calendar years 1904 and 1903. For
Into volu n tary liqu idation b y resolu tion o f Its stock h old ers statement o f Nov,, 1903, see C h r o n i c l e Dec. 26, 1903, page
dated Septem ber 1 2 ,1 9 0 4 , to take effeot on th at date. Con­
2372,
solidated w ith the F irst N ational Bank o f C incinnati.
5,740—The Kingfisher National Bank, K ingfisher, Oklahom a, has gone
REO H IPT8 A N D D IS B U R S E M E N T S (000 o m i t t e d .)
Into volu n tary liquidation by resolu tion o f Its stockholders
%
a
s
s
„ 5
°
dated Septem ber 1*. to take effect Septem ber 24, 1904. C on­
)*
5" 5 0 % <12 3
solidated with The F irst National B ank o f Kingfisher.
52 # #>HI
©a
T >o
3
8 o. g 9 < w
» *£§ *6,8 8 3 —The C itizens’ N ational Bank o f J a ck son v ille, T ex a s, has gone S « c © *
o
o'o' © W
d %32 V
Into v olu n ta ry liquidation by resolution o f Its stockholders 0 0 • ffW
E Si
C
®o a
es ®
ruBn
~t? 4
dated S eptem ber 15. to take effect S eptem ber 16, 1904. C on­ a» oi a
“ a?
S— 05 © a B<
®
© ffi ® » w
P **
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solidated with The F irst N ational B ank o f Jacksonville.
o* p.
© © “ «
1 ,1 4 0 —T he N ational Bank o f L ynd on , V eim on t, has gon e Into v olu n ­
o o •© ©
©
®©d
0 <:* to
tary liquidation b y resolu tion o f Its stock h olders dated ® ® ©OBJ
at
O©
■’ ?
S
Septem ber 27, 1904, to take effect on th at date.
to*
: g: ( M : S: *1
e §:
•
7 .3 9 4 - T he City N ational B ank o f L am pasas, T exas, has gone Into
: *3
volu n tary liqu id ation b y resolution o f its stockholders dated
:
Septem ber 27, 1904, to take effeot on that date. A bsorbed
by The F irst N ational B ank o f Lam pasas.
:3
: [ :
7 ,1 1 2 —
The F irst N ational BaDk o f W ehrnm , P ennsylvania, has gone
*
.
M
A
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f-1
M
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i «
—
Into volu n tary liqu idation b y resolu tion o f its stockh olders w c o C O *
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w
to
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CD©©
M
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to© —
.9°
s
dated O ctober 18, 1904, to take effect on th at date.
M O M ®
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C
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b *
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1
4,806—The P eop les N ational B ank o f B elfast, M aine, has gon e Into
© *3 CDCD
co® ©
09
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co a> * ■ < ! © ©
C O M tP C O ® 0
©
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CD O CE O
v olu n ta ry liquidation b y resolution ot Its stockh olders dated
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O ctober 18, to tak e effeot on O ctober 3 1 ,1 9 0 4 . Succeeded by
MM
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a tru st com pany.
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to
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to© ©
i <&
1,894—The F ifth N ation al B ank o f Pittsburgh, P enn sylvania, has ©QD qouo
w ©
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c o * a © < iM A co
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g on e Into v olu n ta ry liq u idation b y resolu tion o f its sto c k ­
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fe >>-*
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7 ,2 1 8 —The F redonia N ation al B ank, F redonia, K ansas, has g o n e in to W W l o t s
M
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t o c o to
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volu n tary liqu idation b y resolu tion o f its stock h olders dated CO Q3 <b CD
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e M ’o *
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O ctober 2 0 ,1 9 0 4 , to take effeot on th at date. A b sorb ed b y M 00 © i ®
09 CO 00
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to w o co co co
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the W ilson C oun ty B ank o f F redonia.
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to
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6.394— T he F irst N ational B ank o f C onroe, T exas, has g o n e in to v o l­ W_W r r
©
^ 69 ^
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►
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a
untary liqu id ation b y resolu tion o f Its stock h olders d ated ©
100 — GO
t - '© ® * © *
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m ® a c^
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t o 10 CO <30
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an
O ctober 22, to tak e effect N ovem ber 1 ,1 9 0 4 .
CBM
© © ► - © < * Si.
*
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-a
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t©
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CD
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1 ,8 9 3 — he Citizens’ N ational B ank of W ashington City, D . O., hag
T
co
€
0
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tow
to w
*
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CD M7G9
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gon e in to v olu n ta ry liquidation b y resolution o f its s to ck ­ w e ©
eo© © 09
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©
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03
W
<31 —
holders dated N ov. 7. 1904, to take effect on that date. C on­
3
cost
ca >-*
©
© j 6 0 © © * W W
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©
w o ®
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solidated w ith the N ational M etropolitan C itizens’ B ank o f
*
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<35
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t o to
WM
W ashington.
*
©1 c o t © t o c o ®
CO M M - 3 - a *
©
CO
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2,896—The Berkshire N ational B ank o f N orth A to m s , M assacM settffl,
© c c © b i® « * 3
M4 © © © M * ©
*
'c e
© ® M
05
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beoM 4*
has gone Into volu n ta ry liq u idation b y resolu tion o i its sto ck ­ © ® W ®
©
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h olders dated N ovem ber 2 i , 1904, to taka effect on that date. t o ® w ©
M
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MW
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— 50
6,650—Tbe F arm ers’ N ational B ank o f Prim ghar, Iow a , has g on e in to
M CO M 09 0© ©
w
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M
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1=
5
v olu n ta ry liqu id a tion by resolu tion o f Its stock h old ers dated b> * "•3©
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h olders dated N ovem ber 28, 1904, to ta k e effect on that date.
*
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IK SOLVENT.
4,948—The P eop le's N ational B ank o f 8 w an ton , V erm ont, in solv en t,
w as p la ced in ch arge o f a R e ce iv e r on A u g . 1 8 ,1 9 0 4 .
4.273— The F irst N ational B ank o f C laysville, Pennsylvania, in solven t,
w as p la ced in th e hands o f a R e ceiv er on O ctober 11, 1904.
4,641—The B erlin N ational B a ck , B en in , W isconsin, in solven t, was
p laced in ch arge o f a R e c e iv e r on N ovem ber 1 7 .1 9 0 4 .
4,657—Tbe W ooster N ation al Bank, W ooseer, O hio, in solven t, w as
placed in ch arge o f a R eceiv er on N ovem ber 23, 1904.
4 ,0 0 2 —T be B ig B end N ational B an k o f D aven p ort, W ashington, in ­
solv en t, w as p la ce d In cn arge o f a R e ceiv er on N ovem ber 25,
1904.
2,718—The Citizens’ N ational B ank o f Oberlin, Ohio, in solvent, w a s
p la ced In charge o f a R eceiver on N ovem ber 2 8 ,1 9 0 4 .
RESUMPTION OF BUSINESS.

8 9 3 —T h e F irst N ation a l B an k o f Saratoga S prings, New Y ork .p la oed
in ch arge o f a R ece iv e r, Ju ne 27, resu m ed b u sin ess A u g u st
18, 1904.
CHANGE OF TITLE OF NATIONAL BANKS.

4 ,3 4 5 —T he U n ited States N a tion a l B ank o f H old reg e, N ebraska, to
The C ity N ational B ank o f H old rege.
1 ,0 6 9 —The N ational M etropolitan Bank o f W ashington, D istrict o f
C olum bia, to N ational M etropolitan Citizens’ B ank o f W ash­
ington.
8 ,2 8 3 —T he F irst N ational B ank o f the City o f Independence, Io w a , to
T he First National B ank o f Independence.
574—The A m osk eag N ational B ank, M anchester, N ew H am psh ire,
to the A m osaea g N ational B ank o f M anchester.
595—The P eop le’s National B ank o f R o x b u ry , Boston, M assachusetts,
to the P eople’ s N ation al Bank o f R o x b u ry at B oston.
6 1 5 —The N ational R ock la n d B ank o f R o x b u ry , B oston, M assachu­
setts, to The N ation al R ocklan d B ank o f R oxbu ry at B oston .
7,460—T be National JBank o f Jam s sport, M issouri, in to tbe F irst
N ational B ank o f Jam esport.
A PPLICATIO N S TO C O N V E R T INTO NATIONAL B AN K S A P P R O V E D .

T he B ank o f N orth B end, N ebraska, Into N ational B ank o f N orth
B end. C apital, $25,000,
T he F irst State Batik o f L in evilie, A labam a, Into The F irst N ational
B ank of L in evilie. C apital, $ 2 5 ,0 0 0 .
The P eoples Bank, Bylaoauga, A labam a, in to The M erchants and
P lanters N ational Bank o f Hvlaoauga. C apital, $50,000.
T he Spalding State Bank, Spalding, N ebraska, Into the F irst N ation al
BaDk o f Spalding. Capital, $25,000. B lanks sent to H . u . V ail,
A lb ion , Nebraska.
The C om m ercial State B ank o f O x fo rd , N ebraska, Into The F irst
N ational B ank of O xford . C apital, $2^,000.
The W atertow n State Bank, W atertow n, South D ak ota, in to S ecu rity
N ation al B ank o f W atertow n C apital, $00,000.
The B ank of Lucas. K an sas, in to The F irst N ation al Bank of Lucas.
Capita), $v:6,r 00. Blanks sent to J. A. H irst, 611 M innesota A ven u e,
Kansas City, Kansas

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No t e .—T ota l disbursem ents u n d er “ C ivil and M iscellan eou s” in
1904 inoludes $ 5 4 ,6 0 0 ,0 0 0 p a id on a cco u n t o f P anam a Canal and
loan to L ouisiana P urchase E x p o sitio n C om pany. The la st Instalm ent
o f the loa n to the L ouisiana P a rch a se E x p o sitio n C om p an y w as
repaid to th e G overnm ent on N ov em b er 15.

Bank N otes—Changes in T otal of , and in D eposited
Bonds, Etc .— We give below tables which show all the
monthly changes in Bank Notes and in Bonds and Legal
Tenders on Deposit, The statement for Nov., 1903, will be
found in the C h r o n i c l e o f Dee. 2 6 , 1903, page 2371.
Bonds and
Legal Tenders on Deposit
1903-04. for Bank Circulation.
LegalBonds.
tenders.
Nov.
Ooh
Sept
Aug.
Inly
June
May
Ipr.
Mar.
Feb.
ia a .
Deo.

30..
31..
30..
31..
31..
SO..
31..
30..
31..
29..
31..
81

9

431,075,840
42 6,544,790
424,701,490
419,683,940
417,577,550
416,016,690
410,572,640
899,795,140
398,034,650
392,671,550
390,231,600
389,335.680

9

32,731,570
32,750,919
34,064,693
35,136,473
35,181,732
36,475,646
38,709,531
39,277,792
39,309,708
39,971,819
39,199,896
37,889.395

Circulation Afloat Under
Bonds.
9

427,947,505
424,530,581
422,014,715
417,380,300
415,025,156
412,759,449
407,279,034
397,802,781
395,600,234
390,352,49
387,657,731
387,273.623

Legalten itrs.
9

32,731,570
32,750,919
34,004,693
35,136,473
35,181,732
36,475,616
38,709,531
39,277,792
89,309,708
39,971,819
39,199,896
37,889.895

Total.
9

460,679,075
457,281,500
456,079,408
452,516,773
450,206,888
449,235,095
445,988,505
437,080,573
484,909,942
430,324,310
426,857,627
425.163,018

For full explanation of the above table see Chronicle
Dec. 14,1901, page 1232, first item in Financial Situation,
The following shows the amount of each class of bonds
held against national bank circulation and to secure public
moneys in national bank depositories on November 30.

D ec . 10, 1904.]

V. S. Bonds Held Nov. 30,1904, to Beeurt—

Bonds on Deposit
Nov. 30, 1904.

Public Deposits
in Banks.

T o ta l............... ........

Bank
Circulation.

$100,000
9,778,750
9,826,050
8,424,500
74,945,350
1.902.000
1.931.000
3.456.000
1.072.000
2.840.000

S p. ots., 1894, due 1904
4 per ots., funded 1907..
4 p. Ots., 1895, due 1925
3 p. ots.,’98, due 1908-18
2 p. ots., 1900 due 1930.
S*65s Dlst. Col., 1924...
State & City........ ............
Philippine Isl’d Certif s
Hawaiian Island bonds.
Philippine Loan.............

$114,275,650

total Held.
$100,000
16,429,350
11,623,650
10,383,540
495,613,950
1.902.000
1.931.000
3.456.000
1.072.000
2.840.000

$6,650,600
1,797,600
1,959,040
420,668,600

$431,075,840 $545,351,490

The foregoing does not include the bonds held in the
New York Sub-Treasury against deposits in banks. There
were so held on Nov. 30 $7,081,000 bonds, making the
whole amount at that date in possession of the Government
as security for deposits $121,356,650.
The following shows the amount of national bank notes
afloat and the amount of the legal-tender deposits Nov. 1
and Dec. 1, and their increase or decrease during the
month of November.
National Bank. Note*—Total afloat—
Amount afloat Nov. 1,1904...................
Amount issued during November,......
Amount retired during November.......

$8,533,580
5,136,C S
O

$457,281,500
3,397,575
$460,679,075

Amount bank notes afloat Deo. 1 ,19 0 4
Legal Tender Notes—
Amount on deposit to redeem national
bank notes Nov. 1 ,1 9 0 4 .............................
Amount deposited during November.........

$2,375,955
2,395,304

Amount on deposit to redeem national
bank notes Dec. 1, 1904.......................

$32,750,919
19,349
$32,731,570

The portion of legal tenders deposited (1) by banks becom­
ing insolvent, (2) by banks going into voluntary liquidation,
and (3) by banks reducing or retiring their circulation,
was as follows on the first of each of the last five months.
Legal Tend’s.

2623

THE CHRONICLE

Sept. 1.

Aug. 1.

Oct. 1.

Nov. 1.

Dec. 1.

$
Depositsby—
$
$
$
$
211,923
86,688
171,133
35,338
238,953
Insolv’ntbks.
Llqnid’g bks. 12,577,723 12,138,889 12,166,644 11,998,828 12,493.935
Red’o’g und.*
•otof1874 22,365,056 22,785,661 21,726,916 20,665,403 20,202,297
Total ... 35.181.732 35,136.47? 34,064,693 32.750.919 32.731,570
*Aot of June 20,1874. and J uly 12,1882.

R a ilro a d s (S team ).
Alabama Great Southern, pref. A .........
Atchison Topeka < Santa Fe, pref.......
ft
Chicago & Alton H a llw a y , pref..............
Chicago & North Western, com--------do
do
do
pref. (qu.)
Delaware Lackaw. < W estern (extra).
fc
H ocking Valley, com...................................
do
do
pref..................................
Missouri Pacific...........................................
N ew York & Harlem, com. aud p ref...
N . Y . Ontario & Western, com...............
Old Colony (qnar.)........................................
Southern Paciflo. pref. (No. 1)................
S tr e e t R a ilw a y s .
Cal. Gas & E leo, Ban Fran, (m th ly )...
Indianapolis (Ind ) Street R y ...............
Kansas City Ry. & Light, pref. (qnar.)
Metropolitan 8t. Ry., New York (qu.).
Twin City Rap. Tr., Minneap., pf. (qn.)
Union Traction, Philadelphia..................
United Rys. Investment, pref................
United Trao. <6 Eleo., Providence (qu.)
B an k s.
Fifth Avenue (quar.)...................................
Jefferson..........................................................
M utual..............................................................
N . Y . County National (No. 105)...........
Plaza .................................................................
T ru st Com panies.
Fifth Avenue (qnar.)..................................
N . Y . Life Insurance < T ru st.................
fe
M iscellan eou s.
Am er. Beet Sugar, pf. (quar.) (No. 22)
American Can, pref (qnar.)....................
American Snuff, com. (qnar.)..................
do
do pref. (quar.)..................
American Thread, pref...............................
Borden’s Cond. Milk, pref. (quar.).......
Chic. June.Rys.<fe U.Stk Yds.,com.(qu.)
do
do
do
pref, (qu.)
Chicago Telephone (quar.)........................
Electric Boat. pref. (quar.)......................
General Electno (q u a r.)...........................
International Silver, pref. (quar.).........
K ings Co Eleo. Light « > Power (qnar.)
S
Maryland Coal, pref....................................
do
do pref. (extra)....................
Nat. Enam. <6 Stamping, com. (quar.)
do
do
pref. (quar ).
Railway Equip. Corp. (m thly.)(No.79)
do
do
(e x tr a )..................
Royal Baking Powder, pref. (q u a r.)...
Standard Gas Lt. (N. Y ), com <i> pref.
f
United Shoe Machinery, com. (quar.)..
do
do
do
prof, (ouar )..•
t Payable on or about Deo. 20.

P er
W h en
Cent P a yable

6
24
2
34
2
10
14
2
24
5
3
1*4
34

1
Feb
Tan
Jan
Jan
Deo
Jan
Jan
Jan
Jan
Jan
Jan
Jan

26o. Deo
2 Jan
1 4 Dec
1 34 Jan
1*4 Tftn
Jan
2
Jan
2
1 4 Jan

B o o k s Closed.
( D a y 8 I n c lu s iv e .)

1
3
3
3
23
16
16
20
3
16
2
16

Deo 23
Deo 17
Holders
Holders
Deo 9
Deo 28
Deo 28
Deo 23
Holders
Dec 23
Holders
Holders

to
to
of reo
of rec.
to
to
to
to
of rec.
to
of reo.
of reo.

Feb 1
Jan 2
Deo 12
Dec 12
Dec 23
Jan 16
Jan 16
Deo 28
Dec 16
Jan 16
Deo 10
Deo 31

16
1
1
16
2
1
8
2

Deo 11
to
Holders of rec.
Nov 20
to
Deo 24
to
Deo 18
to
Deo 11
to
Deo 20
to
Dec 14
to

Deo 24
Nov 80
Jan 16
Jan 2
Jan 2
Jan 2
Jan 2

Deo
Dec
Deo
Deo
Deo

Dec 31
Jan 2
Jan 3
Jan 2
Jan 3

26
24
3
60
10

Jan
Jan
Jan
Jan
Jan

3
20

Dec
Deo

3 ' Holders of reo. Deo 30
10 Holders of reo. Deo 6

Jan
Jan
Jan
Jan
Tan
Deo
Jan
Jan
Deo
Jan
Jan
Jan
Deo
Deo
Deo
Ian
Ian
Deo
Deo
Dec
Dec
Jan
Jan

Holders of reo. Deo 24
Deo 20
to
Jan 1
Deo 15
to
Jan 3
Deo 16
to
Jan 3
to
2 Nov 30
Jan 1
to
Deo 16
15 Deo 6
Jan 17
to
3 Dec 11
8 Deo 11
to
Jan 17
30 Deo 27
to
Deo 30
to
Jan 1
1 Deo 16
14 Holders of rec. Deo 17
2 Deo 11
to
Jan 1
to
Nov 30
1 Nov 19
to
Jan 2
3 1 Deo 20
to
Jan 2
31 Deo 20
t.0 Jan 2
1 Deo 17
to
Jan 2
1 Dec 17
16
15
3) Holders of rec. Deo 15
to
31 Dec 21
Jan 2
to
Dec 24
14 Deo 18
to
14 Deo 18
Dec 26

14
14
24
14
24
14
2
14
24
2
2
1
2
24
24
4
14
14
2
14
3
2
14

BANK OF MONTREAL.
PROCEEDINGS A T THE EIGHTY-SEVENTH ANNUAL
MEETING, DEC. 5, 1904.
(From the Montreal Gazette.)
The eighty-seventh annual general meeting of the Shareholders of
the Bank of Montreal was held in the Board Room of the Institution at
noon yesterday.
There were present: Hon. Sir George A. Drummond, K. O. M. G.,
Vice-President; Sir William O. Macdonald, R. G. Reid, Hon. Robert
Mackay, Messrs. G. F. C. Smith, George Durnford, James Skeoo
Henry Dobell, G. J. Fleet, K. C.; George Filer, Henry Morton, R. B.
Angus, M. S. Foley, B. A. Boas, F. 8. Lyman, K. O.; Angus W. Hooper,
Percy R. Gault, Thomas Irving, J. Scott and John Morrison.
On the motion of Mr. R. G. Reid, Sir George A. Drummond, VicePresident, was unanimously voted to the chair, in the absence of the
President, the Right Hon. Lord Strathoona and Mount Royal.
On the motion of Mr. C. J. F eet, K, O., seconded by Mr. Henry
Dobell, it was agreed: “ That the following gentlemen be appointed
to act as scrutineers: Messrs. F. S. Lyman, K. C., and G. F. C. Smithy
and that Mr. James Aird be Secretary of the meeting.”
DIRECTORS’ REPORT.
The report of the Directors to the Shareholders, at their eighty"
seventh annual general meeting, was then read by Mr. E. 8. Clouston,
General Manager, as follows:
The Directors have pleasure in presenting the report showing the
result of the Bank’s business for the year ended Oct. 31,1904.
Balance of Profit and Loss Account 31st October, 1903. $373,988 06
Profits for the year ended 31st October, 1904, after
deducting charges of management, and making full
provision for all bad and doubtful debts........................ 1,609,207 95
$1,983,196 01
Dividend, 5 per cent, paid 1st June, 1904..........$700,000
Dividend, 5 per cent, payable 1st Dec., 1904... 700,000
------------- 1,400,000 00
Balance of Profit and Loss carried forward..................... $583,196 01
Since the last annual meeting of the Shareholders, a branch of the
Bank has been opened at Portage la Prairie, Man., and sub-agencies
at Armstrong and Kelowna, B. C., and Papineau Avenue (Montreal)
and Westmounr. Sub-agencies at Hochelaga (Montreal), Enderby, B.
O., and two at Winnepeg have been arranged for, and will be opened
shortly.
The reconstruction of the headquarters building on St. James Street
is now proceeding, and will be completed in a few months.
All the offices of the Bank, including the Head Office, have been in­
spected during the past year.
STRATHOONA AND MOUNT ROYAL,
President.
B ank of M ontreal , Head Office, 31st October, 1904.
THE GENERAL STATEMENT.

9 I T I B B N D S .
N a m e o f C om pan y.

Ipattkittg and financial.

1
3
8
3
3

3
1
3
3

26
26
24
9
25

to
to
to
to
to

L ia bilitie s .
Capital Stock........................................................................ $14,000,000 00
Rest...................................
$10,000,000 00
Balance of Profits carried forward........
583 196 01
$10,583,196 01
980 01
Unclaimed Dividends ..............
Half-yearly Dividend payable 1st
December, 1904...........................................
700,000 00

Notes of the Bank in circulation........... $10,925,689 00
Deposits not bearing interest................ 23,681,366 62
Deposits bearing interest. .................... 71,113,046 67
Balances due to other Banks in Canada
162,489 97

11,284,176 02

$25,284,176 02

105,882.592 26

$131,166,768 28
A ssets.
Gold and Silver coin current.................. $4,083,672 63
Government demand notes
4,468,798 75
Deposit with Dominion Government
reauired by act of Parliament for
security of general hank note circu­
lation.......................................................
460,000 00
Due by agencies of this
hank and other banks
in Great Britain......... $3,555,929 34
Due by agencies of this
bank and other banks
in foreign oountries . . 1,112,152 15
Call and short Loans in
Great B r ita in and
United States............... 24,499,623 00
29,167,704 49
Dominion and Provincial Government
Securities ............................................
519,863 56
Railway and other Bonds, Debentures
and Stocks...... ...................................... 7,373,367 89
Notes and Cheques of other Banks....... 2,808,282 61
Bank Premises at Montreal and Branches................
Current Loans, and Discounts in Can­
ada and elsewhere (rebate interest
reserved) and other assets..................$81,304,314 28
Debts secured by mortgage or other­
wise................................... .....................
252,478 07
Overdue debts not specially secured
128,286 00
(li83 provided for..................................
---------------------

$48,881,689 93
600,000 00

81,685,078 35

$131,166,768 28
E. 8. CLOUSTON, General Manager.
B ank of Montreal, Montreal, 31st Ootober, 1904

T H E CHRONICLE
TOE GENERAL MANAGER.

VOL. LXX1X.

OLDER PROVINCES.
Of trade in general I submit the following brief summary, which,
The General Manager then spoke as follows:
Referring to the statement laid before you, the principal changes, taken in conjunction with the remarks of the General Manager, may
be userul:
as compared with last year, are an increase in the deposits bearing
D
fairly good year’
Interest of $13,265,000, in the call loans of $9,143,000, in the current somr y G oods ,—A collection s good. s business, the woolen indu stry
ewhat better,
loans of $6,699,000, and a decrease in the balance due by our own
L um ber .—Not so good; the production this year will be reduced
agenoies and other banks outside Canada of $4,114,000.
and better prices expected.
There Is nothing that calls for any speolal remark in connection
P ro vision s .—The x p o rt of
increase, and con ­
with these amounts, except that In the case of the loans and deposits siderable quantity o f eprovisionsba>on shows large frica.
is goin g to South A
a certain amount of the increase is of a temporary nature and will
L iv
disappear shortly, but there will still be a sufficient amount to show very e St o c k .—E xports show large decline, prices o f cattle being
low.
that our business la steadily progressing. The diminution in our
L ea th e r .—Good year’ s business at fair prices.
profits is largely accounted for by the low rate of Interest ruling in
B oots and S h o e s .— i very unsatisfactory year, con seq u en t on
the foreign markets, where we have to loan most of the money we de­
sire to hold readily available. I saw a statement the other day that labor troubles and high prices of material.
G roceries —B usiness reported good and fairly profitable; the fa r m ­
in New York not in a quarter of a century has money ruled so low as
ers reported prosperous every where.
it did a portion of last autumn.
D a ir y P roduce — cheese has been disappointing, but butter has
On the whole, it may be said that the past year lias been a prosper­
ous one for Canada, though there have been special industries which been satisfactory; upon the whole fairly good.
did not participate. Lumber markets have been very disappointing,
The g ain trade of the port shows a maraed falling off.
and the prices for dairy products unsatisfactory. Certain industrials
The hay crop of this province has been exception ally good , and ex­
have suffered from foreign competition, but on the other hand some ports fetched rem unerative prices.
of our important industries are now reviving under more experienced
I ron and H a r d w a r e — Not so good as last year, which was phe­
and intelligent management.
The trade of the past year, both domestic and foreign, has been well nomenal.
The construction of another line of va 1wav across the continent,
maintained. Domestic trade shows a slight increase, while foreign
trade, omitting specie, reached a value of $454,642,000, as compared about to be undertaken for the Graid Truok Railway Company, is an
with $450,040,000 in 1903. One feature of foreign trade may be event of the first importance.
noted. Exports of domestic products declined in value $16,000,000,
while imports for consumption rose $18,776,000, making a lo?s in
TRADE OF THE PORT.
balance of trade of nearly $35,000,000 from the preceding year. In
the seven-year period, 1896-1902, inclusive, the very exceptional
The steamship lines have suffered from various causes, the reaction
condition existed of an excess of domestic exports over imports for due to the close of the South African war, and the keen competition in
consumption, the actual balance in favor of Canada in this period rates inaugurated by the continental lines, which largely reduced
having been $1,428 000; but in the last two years the condition has earnings. This warfare is believed to be over.
The import trade and the passenger business to this port have been
changed, and since 1902 imports have outrun domestic exports by
$55,600,000. In itself this excess may be of small concern. It has up to the average in volume.
probably been much more than overcome by the introduction of
The exports of grain and timber show a reduction of one-third to
capital brought by an increasing volume of immigration, by invest­ one-half.
ments of foreign capital, largely from the United States, in our virgin
The inland craft coming to this port show a heavy decline.
Ship-owners, however, look for better trade next season.
lands, water powers, forests, and in many other ways. Yet the fact
It ought to be noted that Importers complain that, considering
remains that considered alone the foreign trade balance has turned
aeainst us, and to this cause the somewhat less abounding activity of higher ireights and insurance and port charges in the St. Lawrence,
domestic trade may, perhaps, be traced. In the two months of the as compared with Atlantic ports, there is little inducement to bring
current fiscal year for which returns are avail able, July and August, goods rhis way.
The prompt completion of the long talked-about harbor improve­
domestic exports were less in volume by $4,200,000 than In the cor­
responding period of last year, and imports for consumption snow a ments, with modern facilities for handling goods, the reform of the
pilotage and improvement of lighting, are urgently called for, if the
decline of about $530,000.
Taking a broad view of Canadian commerce, the future is bright advantages due to our geographical position are to yield their due re­
with promise. Our population is fed now by an immigration of up­ sults. In this connection a point of interest is the announcement of
wards of 100,000 people annuaUy, and the stream appears to be well the construction of one or more ice-breaking steamers. About these
turned towards Canada. Production in the Northwest grows apace, comparatively little is known, but any experiment bearing on the
the railways are prosperous, a second transcontinental 11d6 is on the prolongation of the season of navigation, if seriously entered on, will
eve of construction, the reports from the mining districts of British be watched with an interest commensurate with its importance to the
Columbia are more encouraging, a spirit of abiding confidence in country.
The continuance of the sanguinary struggle in the Far East is, of
Canada prevades onr people; and despite temporary checks in the
progress of material developments, there is increasing belief that this course, a menace to the general prosperity, but as regards our own
country, surveying the whole fieLd Lcan see no reason to doubt that,
country has entered upon an era of great and enduring prosperity.
given normal conditions and favorable weather, we are about to enter
on a prosperous year.
VICE-PRESIDENT’S REMARKS.
I beg, in accordance with custom, to move :
“ Toatthe report of the Directors now read, be adopted and printed
The Vice-President, in moving the adoption of the Directors’ report,
for distribution among the Sha*eholde» s.”
said:
The motion wa* seconded by Mr. R. B. Angus, and after some
The statements submitted by the General Manager and in the
Directors’ report so fully place before you the position of the Bank remarks by Mr. John Morrison, it was unanimously adopted.
Mr. B. A. Boas moved:
that it is unnecessary I should trespass on your patience for more than
“ That the thanks of the meeting be presented to the President. Vicea few moments with some general remarks.
The handsome and commodious premises in which we are now as­ President and Directors for their attention to the interests of the
sembled, and which are now close to completion, have, I am sure, met Bank.”
This was seconded by Mr. George Durnford, and was unanimously
with your approval as furnishing a worthy and convenient home for
concurred in.
the headquarters of the Bank for many years to come.
The Vice-President having acknowledged the compliment, Hon.
The General Manager has referred to one cause of diminished profits,
to which may be added the fact that to earn dividends now-a-days a Robert Mackay moved:
“ That the thanks of this meeting be given to the General Manager,
much larger volume of business must be done, thouvh that is only
another way of stating the great reduction in the rates for money, and the Assistant General Manager, the Inspector, the Managers, and
other officers of the Bank, for their services during the past year.”
in the charge for banking services which has been going on.
I
may again draw your attention to the fact that in 1847, when the This was seconded by Mr. R. G. Reid, and was unanimously carried,
Bank first occupied the premises on this site, its total assets amounted the General Manager acknowledging the same.
Mr. Angus W. Hooper moved, seconded by Mr. James Skeoch:
to $7,110,000, and this year they reach $131,160,000.
“ That the ballot now open for the election of directors be kept open
In reviewing the general condition of the country, it may be noted
that the Stock Exchange, reflecting as it does the views of investors until 2 o’clock, unless fifteen minutes elapse without a vote being
has apparently entered on a period of revival; securities have now a cast, when it shaU be closed, and until that time, and for that purpose
higher range of value and confidence in the lasting character of this only, this meeting be continued.”
This was unanimously conourred in.
improvement appears to be spreading.
It is evident that any marked increase in immigation, or in the pro­
duction of cereals, must come from the Northwest. We have there an
THE DIRECTORS.
immense territory, of which the area stated in figures conveys no ade­
The ballot resulted in the election of the following directors:
quate Idea; but taking only that portion to the south of the fifty-fifth
paraUel of latitude, which, as you know, passes through the north of R. B. A ngus ,
A l e x a n d e r T. P ate r so n ,
England, the Government expert estimates that the portion ‘ 'suitable H on . Sir G eo r g e D r u m m o n d , R o b e r t G. R e id ,
for cultivation,” in Manitoba, Assiniboia, Saskatchewan and Alberta,
K. C. M. G.,
J am es R oss ,
that is from Manitoba to the mountains, reaches an extent consider­
ably exceeding the total area of the Empire of Germany, while refer­ E d w a r d B. G r e e n s h ie l d s ,
T he r t . H on . L o r d Strath con a
ring to the much larger extent to the north of the fifty fifth parallel S ir W il l ia m C. M a c d o n a l d ,
and M ount R o y a l , G. C. M. G.
he says: “ What proportion of these vast districts will be capable of
H on . R o b e r t M a c k a y ,
the profitable growing of crops is as yet a matter of conjecture.”
You are all aware, of course, that the isothermal lines do not neces­
sarily conincide with the parallels of latitude, and these lat ter only
approximately denote the climate, but the fact of the production of
Auction Sales.—Among other securities the following not
the finest qualities of wheat in our territory, as abovedeflned, is estab­
lished beyond question. You will be able to form some estimate of regularly dealt in at the Board, were recently sold at auction:
the possibilities of the future when I add that as yet less than 4 per
By Messrs. Adrian H. Muller & Son :
cent of this land has been brought under crop. It is worthy of note
Stocks.
Stocks.
also that the yield per acre in Manitoba and the Territories ^xo^eds
4 Clinton Hail Assoc’n ....5 1 -5 3
that of every one of the Northwestern States of the American Union, 144 Bank of the Metropolis.4 3 7 ^
925 N. Y. Warehouse & Se­
10 Nat. City B ank................31018
Montana alone excepted.
curity Co $ l to $2 10 per sh. 225 lnternat’1 Bank Corp.150-155
Striking proofs of progrefs in this part of the Dominion are every­
1 Free right N. Y. Society
15 Gallatin Nat. Bank.........416
where visible. The population of Manitoba and the Territories, which
Library.......................... $75
59 Industrial Develop. Co.$ 1 0 lot
in 1901 was 422,000, became in 1904 870,000.
50 People’s Tr. Co.of Bklyn.330
The homestead entries, which in 1901 numbered 8 157, and repre­ 115 Parley’s Park Silver Min
12 West. Anthraoite Coal &
lng Co............................ $6 lot
sented 1.305,120 acres taken up for cultivation, had in 1904 reached
Coke Co. 7s pref.........$45 lot
the number of 31,383, and covered an aoreage of 5,021,291; and to 100 Daly Mining Co.$2 10 per sb.
5 West. Anthracite Coal &
this may be added land sold for settlement by companies, bringing 600 Standard Consol. Mining
Co........................ $1 61 per sh.
Coke Co. com..............$10 lot
the total up to 9,387,501 aores.
10 Salisbury Steel & 1. Co.$10 lot
The number of immigrants, which ten years ago, in 1895, was 250 Santiago Gold Min’g Co.$4 lot
50 Gt. Wesi’n Ins. Co. (In '
218 Brock Veneered Lumber
25,788, and for years made little progress over this figure, last year
liq.i, $31 50 paid per
Co.,$10eaoh.............. $15 lot
reached 1^0,329, and is believed during the present year to have
$2
share, $40 each..........
10 Bond < Mort. Guar. Co.391
fe
largely exceeded that number; but statistics are not yet attainable.
8 N. Y. & Boston Ins. Co.
lot
19 Lawyers’ Title Ins. Co.,
While the evidences of progress are, as alreany said, most marked
(In Hq.), $20 paid per
in our western territories, the rest of the Dominion has not been
335-34514
70 Journeay < Burnham... 35
fe
share, $50 each.......... „
standing stM. One feature is noteworthy—the number of new manu­
200 Indiana Copper Co.
25 U. 8. Fire Ins. Co............ 85
facturing enterprises springing up all over the country; some of
(iCc. per sb.); receipt
3 American Surety Co.......180
them are essentially Canadian, others are branches of important
of trustee for 5,100
American industries. It is Impossible to give data, even approxi­
B onds.
sh. and $2,500 bonds $100
mately correct, of the extent or number, but I hold in my hand in my
of RepublioGold Min­
hand a Ust of over thirty in Ontario and Quebec, and may say that for
ing Co., $450 paid— l
$4,000 Augusta South. RR.
three only in this city and neighborhood, sites have been secured
1st 5s, 1924, J&D............ . 09
100 Empress Embr’d’y Co. J
averaging about fifty acres each.

New York City Clearing1 House Banks.— Statement of
condition for the week ending Dec. 3, 1904, based on aver­
age of daily results.
We om it two cip h ers (0 0 ) in a ll cases.
BA N K S.

Bk. of N. Y.
Manliat. Co.
Merchants'
Mechanics’ .
America___
Phoenix . . .
C it y ............
Chemical ..
Merch. Ex .
Gallatin___
But. & Drov
Mecli.&Tra.
Greenwich.
Amer.Exch.
Commerce..
Mercantile.
Pacific.........
Chatham .. .
People’s .. .
N. America
Hanover .. .
I r v in g .......
Citizens’ ..
Nassau —
Mar.<fe Fult.
Shoe<fcLthr
Corn Exch .
Oriental . . .
Imp. & Trad
Park .........
East River
Fourth ___
Second ___
First .........
N .Y .N t.E x ,
Bowery . . .
N. Y . Co .. .
German Am
Chase...........
Fifth A ve ..
German Ex.
Germania ..
Lincoln.......
Garfield___
Fifth .........
Bk. of M et..
W est Side..
Seaboard ..
1st N.Bklyn
Liberty.......
N .Y . P r.E x
New Amst.
Astor .........

Capital.

2625

THE CHRONICLE.

D e c . 10, 1904. J

Surplus.

Loans.

$
$
$
2.600.5 17.612.0
2,000,0
2.415.5 28.463.0
2.050.0
1,4-8,9 13.967.3
2,0UU,0
3.000. 0 3.366.8 22.173.0
3,556,4 24.517.0
1.500.0
3.295.0
261,1
1.000. 0
25.000. 0 17.003.0 171,928,9
7.701.6 27.919.3
300.0
6.112.1
375.6
600.0
2.233.0
9.217.5
1,000,0
2.031.5
127.6
300.0
4.984.0
357.7
700.0
2.972.7
539.6
500.0
5.000. 0 4.139.8 31.282.7
25.000. 0 11,667,4 153.857.0
3.000. 0 4.484.2 23.699.5
625.0
3.134.3
422,7
1.081.3
6.316.3
450.0
408.9
2.051.0
200.0
2.000. 0 2.049.3 16.801.8
3.000. 0 6.774.7 49.503.5
6.986.0
1.000. 0 1.091.4
697.2 18,245,9
2.550.0
321.4
2.809.1
500.0
1.335.9
6.980.2
1,000,0
380.7
7.610.8
1,000,0
3.318.5 27.638.0
2,000,0
1.058.3
7.140.4
750.0
6.703.3 24.967.0
1.500.0
3.000. 0 7.076.4 69.211.0
134.2
1.090.1
250.0
3.000. 0 2.999.0 20.962.7
9.494.0
1.460.2
300.0
10.000. 0 14.328.0 101.881.0
8.146.2
874.7
1.000. 0
3.395.0
773.4
250.0
672.5
4.503.8
200.0
3.907.9
517.3
750.0
4.180.6 46.439.7
1,000,0
9,662,8
1.785.4
100.0
2.545.7
682.7
200,0
2.767.1
878.3
200,0
1.395.5 13.338.1
300.0
7.574.8
1.306.3
1,000,0
2.536.6
396.0
250.0
8.705.6
1.456.3
1,000,0
3.801.0
528.9
200.0
1.431.4 14,950,0
500.0
4.161.0
596.2
300.0
1.948.4 11.264.8
1,000,0
5.464.7
518.3
1,000,0
5.849.5
561.1
500.0
4.733.0
582,0
350.0

Specie.

New Vork City, Boston and Philadelphia Banks.— Below
is a summary of the weekly returns of the Clearing House
Banks of New York City, Boston and Philadelphia. The New
York figures do not include results for non-member banks.
We om it two cip h ers (0 0 ) in a ll these figures.

Legals. f Deposits Res’ ve.

P.C.
$
$
$
2.417.0 1.908.0 16.513.0 26-1
7.223.0 2.160.0 34.413.0 27*2
3.137.3 1.323.0 17,294,2 253.544.0 1.874.0 22.508.0 24- 0
5.084.0 2.299.6 27.654.9 2 6 ‘7
257.0
644.0
2.914.0 3033,855,5 8,826,2 166,415,3 25*6
5.592.5 1.752.9 27.771.1 26*4
591.5
1.204.7
6.814.1 26- 3
1.249.4
531.6
7.241.3 24*5
513.4
82,6
2.512.8 23831.0
590.0
5.639.0 25*1
564.5
322.0
2.900.8 30*5
5.990.8 1.947.0 26,210,5 30*2
25,26U,8 11,637,1 141,963,0 2 5 9
4.190.1 1.246.4 20.853.2 26*1
581.0
519.8
4.132.6 2 6 6
759.7
922.8
6.410.6 26*2
339, £
527.7
2.758.5 311.928.5 15.901.2 24'6
1.997.9
11,598,3 3.887.9 60.261.9 25*6
333.1
1.206.4
6.424.0 23*9
4.187.0 1.417.2 22.257.9 25*1
308,2
405.8
3.261.5 21-8
739.1
1.204.6
6.895.7 28*1
1.963.6
411.6
9.219.4 25*7
4.415.0 3.726.0 33.325.0 24*4
1.916.0
415.8
7.660.6 30*4
4.074.0 1.383.0 22.271.0 24*5
14.688.0 5.524.0 78.964.0 2 5 6
206.6
1.523.4 37 0
358.1
3.566.0 2.197.7 23.134.3 24*9
1.116.0 1.647.0 10.544.0 26*2
21.865.1 2.450.1 97.862.0 24*8
1.406.0
473.8
7.570.4 24*8
407.0
473.0
3.940.0 22*3
487,4
954.8
5.663.0 25‘4
233.8
802.8
3.929.8 2612.687.1 1.660.8 55.654.1 25*7
2.347.4
402.3 10,643,7 25- 8
685.0
215.0
3.713.2 24*2
442.2
685.4
5.420.8 20-8
1.292.8 2.332.3 14.545.1 24312.0
1,855,3
7.916.0 27131.8
608,7
2.724.5 27T
443,7 10.304.0 24-8
2.113.1
356.0
575.0
3.995.0 23- 3
3.047.0 1,537,0 17.799.0 25*6
668.0
704.0
4.438.0 30*9
249.0
2.210.0
9.780.0 25T
424.4
1.023.8
5.836.6 24*8
388.2
1.260.6
6.836.1 24T
265.0
908.0
4,743,0 24-

Total . . . 115,972,7 135,187,7 10906029 212,561,1 77,947,5 11278781 25*7
t
t Total United States deposits included, $23,333,200.

Reports of Non-Member Banks.— The following is the
statement of condition of the non-member banks for the
week ending Dec. 3, 1904, based on average of daily results.

BANKS

C apital &
Surplus.

Loans.

Specie.

Legals.

Deposits. t

Circu­
lation.

C learings.

9.
*
N. Y.
$
$
*
$
$
Nov 12 250,616,2 11250899 226.558.7 76,347,1 11760450 42.313,9 1.614.801.7
Novl9 251.160.4 11127107 223,918,4 7 5,640.7 11598776 42.188.5 2.184.204.7
Nov26 251.160.4 11024209 217.957.8 76,476,7 11442125 42.126.5 1.786.061.8
Dec 3 251.160.4 10906029 212,561,1 77,947,5 11278781 42.126.5 2,299,046,0
Bos*
7
Nov 19 52.635.4 187.119.0 17.166.0 6.277.0 228.342.0 7.403.0 163,686,7
Nov26 52.635.4 186.628.0 17.170.0 6.301.0 224.124.0 7.413.0 12,^,882,1
Dec 3 52.635.4 186,910,0 15.914.0 6.627.0 221.335.0 7.406.0 161,368,4
9
Phila.
N ovi 9 48.167.1 215.558.0
67.861.0
264.194.0 11.674.0 132,126,9
68.070.0
Nov26 48.167.1 215.835.0
261.744.0 11.962.0 116,408,3
Dec 3 48.167.1 216.438.0
66.318.0
260.125.0 11.977.0 173,820,5
7 Including for Boston and Philadelphia the item “ due toother hanks,”
t
and also Government deposits. For Boston these Government deposits
amounted on Dec. 3 to $3,764,000 ; on Nov. 26 to $3,772,000.

Imports and Exports for the Week.— The following are
the imports at New York for the week ending for dry goods
4
Dec. 1 and for the week ending for general merchandise
Dec. 2 ; also totals since beginning first week January.
F O R E IG N IM POBTS.
1904.

F o r week.

1903.

$2,307,294
10,341,831

Dry Goods.....................
General Merchandise

$2,290,094
8,350,440

1902.

1901.

$2,315,995
9,375,272

$2,185,094
9,044,516

Total................ ......... $12,649,125 $10,640,534 $11,691,267
Since Jan. 1.
Dry Goods..................... $111,983,215 $120,371,424 $115,731,990
General Merchandise 448,605,737 425,837,811 411,279,402

$11,229,610
$99,181,638
417,053,766

Total 48 w eek s....... $560,588,952 $546,209,235 $527,011,392 $516,235,404

The imports of dry goods for one week later will be found
3
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Dec. 5, and from January 1 to date.
8
3

E X P O B T S FROM N E W Y O B K FOB T H E W E E N .
1904.

For the week...............
Previously reported..

1903.

1902.

1901.

$13,724,076
44^,692,941

$11,694,105
464,823,581

$13,336,103
444.104,950

$11,569,129
466,292,412

Total 48 w eek s....... $462,417,017 $476,517,686 $457,441,053 $477,861,541
7 ote .—A s the figures of exports as reported by the New York Custom
N
House from week to week frequently show divergence from the monthly
totals, also compiled by the Custom House, we shall from time to time adjust
the totals by adding to or deducting from the amount “ previously reported.”

The following table shows the exports and imports of
specie at the port of New York for the week ending Dec. 3
and since Jan. 1,1904, and for the corresponding periods in
1903 and 1902.
E X P O B T S A N D IM P O BTS OF SP E C IE A T N E W Y O B K

W e om it two cip h ers (0 0 ) in a ll cases.
Exports.

D eposit w ith
BANKS.
00s omitted.

Capi­
ta l.

S ur­
plus.

N . Y . Cit y .
B oroughs oj
M an& B r’nx
$
$
100,0 243,1
Colonial___
Columbia ..
300,0 291,8
116,7
14th Street.
100,0
81,9
Gansevoort.
200,0
Hamilton ..
200,0 123,3
118,9
Mt. Morris
25o;o
200,0 193,0
Mutual ___
19 th Ward . 200,0 195,8
Plaza...........
100,0 245,0
106,6
100,0
Riverside ..
State .........
100,0 682,2
12th Ward . 200,0 114,3
23d Ward ..
100,0 105,4
Yorkville ..
100,0 285,3
122,5
F idelity___
200,0
Jefferson ..
400,0 304,0
63,3
Century . ..
100,0
135,2
Wash. Hgts
100,0
137,7
United Nat. 1,000,0
Consol. Nat. 1,000,0 1,117,2
Union Exch 750,0 517,4
61,1
Chelsea Ex.
100,0
B orou gh oj
B rooklyn .
337,0
Broadway .
150,0
161,3
Brooklyn ..
300,0
Mfrs.’ N a t..
252,0 585,4
Mechanics’
500,0 407,2
63,3
Merchants’ . 100,0
Nassau Nat
300,0 760,8
Nat. City ..
300,0 598,3
162,2
North Side.
100,0
184,7
Peoples.......
100,0
89,6
17th Ward . 100,0
SpragueNat 200,0 245,4
116,0
union..........
200,0
84,4
Wallabout .
100,0
91,8
Borough . ..
200,0
B orou gh o]
R ichm ond.
1st Nat.,S. I.
100,0 115,5

N et
L oan s & S p ecie. Leg. T.
JcBank C lear’g Other Deposits
In vest­
Notes. A gent. Bks.&c
ments.

$
2,802,4
4,992,0
2,151,9
1,913,0
3,231,2
2,400,8
2,906,8
1,716,4
3,123,0
1,260,5
8,098,0
1,822,0
1,595,6
2,100,6
838,4
2,365,6
697,5
762,6
2,211,1
4,114,0
4,293,6
405,8

$
66,4
368,0
91,1
18,7
174,6
119,1
26,4
32,4
205,0
24,2
563,0
44,0
58,5
54,0
17,0
9,1
25,1
11,5
211,7
370,5
121,1
26,1

$
220,6
249,0
104,9
164,8
132,7
107,2
326,6
155,4
192,0
103,2
300,0
197,0
178,7
256,3
44,8
133,0
27,8
29,4
62,4
41,5
225,5
21,7

$
$
$
315,3 246,4 3,301,2
381,0
3,5 5,286,0
300,5
30,0 2,684,9
204,1
3 05,7 2,267,1
213,6 212,5 3,679,0
319,6
55,6 3,136,5
136,0
55,7 3,165,8
520,7
348,3 2,466,8
254,0
3,632,0
75,4
155,5 1,426,2
296,0 1,572,0 10,234,0
152,0
2,239,0
165,3
i s i ,2 2,072,3
153,8 191,6 2,457,9
........
87,0
846,1
248,8
5,4 2,574,2
709,1
43,8
50,4
88,7
595,7
77,0
1,257,2
230,8
25,0 2,503,4
886,3
500,0 5,251,3
45,7
471,4
44,5

2,311,3
1,803,4
3,708,3
7,347,6
1,274,0
5,220,0
3,277,0
1,298,1
1,560,0
704,5
1,362,0
1,164,7
803.8
1,804,7

15,0
142,4
284,1
201,4
11,6
184,0
135,0
16,9
68,4
11,6
135,0
50,4
48,7
22,6

164,0
76,5
97,5
598,7
108,4
304,0
311,0
85,7
102,6
52,3
25,0
100,8
28.4
112,6

309,8
227,1
438,7
754,5
189,2
605,0
245,0
36,0
90,7
77,9
188,0
154,9
33,3
156,8

18,9
122,4
51,2
86,0
49,7
26,0
72,0
148,8
111,0
38,1
35,0
398,2
91,1
2 1 ,6

2,457,2
2,079,8
4,211,8
8,849,0
1,530,6
5,258,0
3,470,0
1,362,4
1,731,5
728,4
1,452,0
1,578,1
823,5
1,893,0

853,5

61,8

10,0

142,8

......

860,0

400,0 1,082,3

4,325,4

178,5

281,9 1,578,1 1,680,1

6,579,3

250,0
250,0
200,0

660,9
261,9
294,4

2,238,5
1,264.9
1,493,4

78,8
69,4
29,6

67,4
19,7
76,8

176,7
175,9
481,0

84,5
16.9
4,9

1,853,2
1.136,3
1.893,6

110,0
125,0

538.2
160,7

2,644.3
1,281,7

221,1
54,2

31,1
38,9

181.0
55,5

845.3
64,7

3,399,8
1,185,1

J e r s e y C it y

First N a t...
Hudson Co.
National .
Second Nat.
Third N a t..
H oboken.

First N a t ...
Second Nat.

Tot. Dec 3 102370 123630 1035433 4.058,0 5,968,1 114933 7,749,7 1163902
Tot. Nov26 102370 123630 1016024 4,505,4 0,115.7 126968 8 465,0 116302l
Tot. N ovi 9 102370 123630 L009188 1,541,2 6,050,5 135749 7,7 60,7 1160835

G o ld .

Week.

Since Jan. 1.

G re a t B r it a i n ...................
F r a n c e ..................................
G e r m a n y ............................
W e s t I n d ie s ......................
M e x ic o ..................................
S o u th A m e r ic a .................
A ll o th e r c o u n t r ie s ........

$ 2 1 ,6 6 7 ,9 7 9
5 3 .6 6 8 ,0 4 2
1 ,000,000
1 4 ,9 9 6 ,2 2 5
$ 1 ,7 0 3 ,0 0 0
1,626,995
2 5 0 ,0 0 0
4 ,6 5 0 ,5 1 5
3,042

T o ta l 1 9 0 4 ...................
T o ta l 1 9 0 3 ...................
T o ta l 1 9 0 2 ...................
S ilv e r .
G re a t B r it a in ....................
F r a n c e ................................
G e r m a n y ..........................
W e s t I n d ie s ................. .
M e x i c o ................................
S o u th A m e r ic a .................
A ll o th e r c o u n t r ie s .........

$ 1 ,9 5 3 ,0 0 0 $ 9 7 ,6 1 3 ,8 9 8
113,692
33 ,2 1 7 ,7 1 0
2 7 ,7 2 6 ,3 8 0
1 ,0 1 1 ,5 0 0

T o ta l 1 9 0 4 ...................
T o ta l 1 9 0 3 ...................
T o ta l 1 9 0 2 ...................

I m ports.

Week.

Since Jan. I .

2,724
1,304
30,226
15

$ 2 ,0 5 2 ,9 7 8
3 ,2 9 4 ,4 7 8
1 ,6 3 3 ,9 9 3
9 8 5 ,6 8 8
1 1 8 ,3 3 3
1 ,0 2 6 ,5 6 9
1 37, l 8 2

$ 6 1 7 ,7 6 9
2 ,0 8 1 ,7 9 8
65,613

$ 9 ,2 4 9 ,2 2 1
1 3 ,3 6 7 .5 6 3
5 ,8 8 4 ,5 2 1

$ 3 1 ,0 5 2 ,5 1 3
1,596,369
25 ,8 0 0
22 0 ,0 2 2
989
60,60v
1 2 ,0 0 0
1 ,7 4 4 ,8 2 5
11.381

$ 1 ,6 6 0
3,327
4,313
70

$535
9 ,1 8 5
10,511
1 6 5 ,4 2 4
620 ,6 2 2
2 7 3 ,9 6 4
4 8 ,1 2 2

$ 3 3 8 ,0 7 4 $ 3 4 ,7 1 1 ,5 1 0
29 ,2 0 8 ,9 1 0
62 2 ,8 7 5
3 2 ,4 4 7 ,6 3 0
1 ,2 6 1 ,2 3 3

> 9,370
■
61,650
51,339

$ 1 ,1 2 8 ,3 6 3
1 ,5 1 7 ,2 5 7
1 ,1 8 4 ,2 2 3

$ 5 8 3 ,5 0 0

$325,085

Of the above imports for the week in 1904, $15 were
American gold coin and $1,230 American silver coin. Of the
exports during the same time, $1,755,500 were American gold
com and $------ were American silver coin.
Auction Sales.— See page preceding.

_____ funking and financial.

Spencer Trask & Co.
Monthly Descriptive List of High-Grade
IN V E S T M E N T BONDS.
Transact a general banking business and execute
stock and bond orders upon the
New York Stock Exchange.
Branch Office, Albany, N.Y.
W illiam and Pine St?., New York.

M o f f a t

& W

h i t e

,

M e m b e r s N ew Y o r k S to ck E x ch a n g e ,
1 NASSAU STREET, CORN KB W ALL,

Dealers In Investment Securities.
T el, 5820-3821 C ortlandt.

Telephon e Stocks a Specialty*

( V O L. L H 1 L

TH E CHRONICLE

2G2(j

tLiankers’ (Ga?cttc.

U n ited S ta te? B on d s.—Sales o f G overnm ent bonds at the
Board include $24,000 4s, cou p ., 1907, at 106% to 106% ;
$1,000 4s, cou p ., 1925, at 181, and $1,500 3s, cou p,, 1908 18," at
104%. The follow in g are the daily closing q u otations; for

For IH tiden de se t page adsj.
W A L L ST R E E T . K ill DAY , DEC, « , 1 U 0 4 .-5 P. HI.

The Money Market and Financial Situation.—The secu rity
markets have been greatly disturbed this week. One o f the
causes o f the disturbance was the unique m ethod adopted
by a Boston operator to depress A m algam ated Copper and
other stocks. These efforts were so far effective as to cause
a violent liquidating m ovem ent, an increase in the volum e
o f business to the largest recorded since the week ending
May 4th, 1901, a decline o f 24 points in the stock m entioned,
and a decline o f 8 to 12 points in a lon g list o f aotive shares.
E vidently the m arket situation favored such a m ovem ent.
T he decline seemed to have spent its force before the close on
Thursday, since w h ich, the m arket displaying rather unusual
recuperative pow er, a substantial recovery has taken place.
T he open m arket rates for call loans on the Stock E xchan ge
during the week on stock and bond collaterals have ranged
from 2 to 5 p. c. T o-d ay’s rates on call were 2 to 4% p. c.
Prim e com m ercial paper quoted at 4 % @ 4 % p. c. for endorse­
ments and 4 % @ 4 % p. c. fo r best single names.
The Bank o f E ngland w eekly statem ent on Thursday
showed a decrease in bullion o f £664,506 and the percent­
age of reserve to liabilities was 45’93, against 45-30 last w eek,
the discount rate rem aining unchanged at 3 per cent. The
Bank o f F rance show s a decrease o f 1,725,000 francs in
gold and an increase o f 25,000 francs in silver.

yearly range see third page following :
Interest
Periods

Dec.
3

Dec.
S

Dec.
6

Dec.
?

Dec.
8

Dec
9

IS, 1880.
Q —Jan *104 *104 ‘ 104 H *104 4 *104 Hj'*104H
i
Q —Jan *1044 *104 4 *104 °j *104°b *104»b *104s.
28,1930.
. . . . . . ...... . . . . . . ..... ......
28,198 0, amaJ.. re glstered .... ..
_ ....
......
. . . . . . __
28,1930, small___ooupon . . . . ,,
*8,1918.
Q -F e b *104‘a *1044 *1044 ‘ 104 H *1044 *1044
i
Q —Feb *1044 *1044 ‘ 104 H 1044 "1044 ‘ 1044
*8,1918.
___ __... ....... . . . . . .
*8,1918, amalLreglatered Q -F e b
i
*8,1918, small___ooupon Q -F e b * 1 0 4 4 104 H *104 4 *104H ‘ 1044 *1044
48,1907. .......... registered Q —Jan *1064 *1064 -106*8 *105H *1054 *105*8
48,1907.
Q —Jan *1064 106*4 1064 ‘ 106H *1064 ‘ 106*8
is , 1926.
Q —Feb ‘ 1804 *1804 *180*4 *130*4 *180*4 ‘ 180*4
ta. 1925.
181 1*131
Q —Feb *181 *181 *131 *131
"TUBla the Brice bid at the morning board; no sals was made.

Railroad and Miscellaneous Stocks.—A s noted above, the
activity o f the stock m arket has on ly on one occasion been
surpassed. It has also been exceed in gly irregular, the p re­
cipitate decline onW ednesday and on T h u rsday m orning bein g
follow ed by a sharp recovery during the afternoon o f Thurs­
day, w h ich was continued to-day— the recovery am ounting
to an average o f from 4 to 8 points fo r a lon g list o f shares.
In the railw ay list there have been alm ost no exceptions
to the general trend o f the m arket. A s m igh t be expected,
fluctuations were w idest in issues w hioh have recently re­
corded the highest percentage o f a dvan ce, as w ill be seen
by referring to the subjoined table, w h ich shows the highest,
low est and closin g prices o f some o f the best-know n stocks.
FEW YORK OITT OLHXRING-HOUSE BANKS.
N aturally the industrial list, led by A m algam ated Copper,
fluctuated violently, A m algam ated Copper itself coverin g
Differences
790S
1903
1904
from
a range o f 24 points, A nacon da M ining 22 points, Colorado
Dee. 6
Dee. 3
Dec 5
previous xeee'n
F uel & Iron 21 points, Tennessee Coal & Iron over 15 points,
$
United States Steel 11% and 10 points for the preferred ana
$
$
115,572,700 101,951,900 com m on, respectively, N ew Y o rk A ir Brake 12% points and
OApitot. ____
1 1 5 .9 7 2 .7 0 0
182,221,000 121.447.800
Surplus ____ - - 1 3 6 .1 8 7 .7 0 0
Loans A discounts 1 ,0 9 0 ,6 0 2 .9 0 0 Deo 11,818,000 882,002,300 881,437,000 A m erican Sugar R efining 16 points.
nir/vnlation______
4 2 .1 2 6 .5 0 0
Net deposits........ *1,127,878,100 Deo 16,334,400
Specie
2 1 2 ,5 6 1 ,1 0 0 Deo 6,898,700
Legal tenders.......
7 7 .9 4 7 .5 0 0 Inc 1,470,800

46,068,100
842.900.400
151,011,600
05,418,800

45.606.000
879,762 600
162.620.800
07.293.000

Reserve held........
3$ p. o. ot deposits

217.030.400
210,725,100

229,914,400
219,940,650

2 9 0 ,6 0 8 ,6 0 0 Deo 3,926,900
2 8 1 ,9 6 9 ,6 2 5 Deo 4,083,800

6,306,300
9,973,750
167,700
8 ,6 3 9 ,0 7 5
Surplus reserve
- $23,333,200 United States deposits Included, against $33,373,800 last
week and *86,801,100 the corresponding week ol 1903. With these
United Statesdepoaits eliminated, theaurplnsreservewould be $14,372,376
on Deo. 3 and $14,224,826 on Nov. 20.
NOT*.—Returnsol separate banks appear on thepreoedlng page.

F o re ig n E xchan ge.— The m arket was w eak on M onday,
influenced b y a liberal supply o f co tto n bills and b y o ffer­
ings o f bankers’ drafts against A m erican securities placed
on the Continent; the tone was steadier on and after Tues­
day u n til T hursday, when there was a sharp decline in the
m orn in g, follow ed by a partial recovery in the a fternoon .
The m arket was steady to firm on Friday. G old exports,
$2,000,000 in bars; destination not given.
T o-d ay’s (F rid a y ’s) nom inal rates for sterling exchange
were 4 84% for sixty day and 4 87@4 87% fo r sight.
T o­
day’s (F rid ay’s) actual rates fo r sterling exch ange were
4 8360@4 8370 for long, 4 8625@4 8630 for short and 4 8665@
4 8675 for cables. C om m ercial on banks, 4 8330@4 8340, and
docum ents fo r paym ent, 4 82% @ 4 83%. Cotton fo r paym ent,
4 82% @4 82%; cotton for acceptan ce, 4 8330@4 8340, and
grain fo r paym ent, 4 83% @ 4 84.
| |To-day’s (F rid a y ’s) actual rates fo r Paris bankers’ francs
were 5 18%*@5 18% for long and 5 16%J@5 16%* for short.
Germ any bankers’ marks were 9 4 13-16@94% fo r long and
95 7-16f@95 7-16 fo r short. A m sterdam bankers’ guilders
were 40% *@ 40% f for lon g and 40 5-16**@40 5-161T fo r short.
E xchan ge at Paris on L ondon to-day, 25 f. 16% c.; w e e k ’s
range, 25 f. 16% c. h igh and 25 f. 15% c. low .
T he w eek’s range fo r ex ch a n g e rates fo llo w s :
-----------Long.----------,
,---------- Short.----------.
.— -Cables_____ _
Sterling Actual—
High... |4 8380 ® 4 8386 I 4 8646 ® 4 8660
4 8680 ® 4 8690
L o w ... 14 8340
® 4 8360 | 4 8586 ® 4 8695
4 8045 ® 4 8660
ParU Bankers’ Francs—
High... I 6 18*4*
® 6 18*4 I 6 1 6 V ® 5 1 0 V I ............................
L o w ... |6 19*8
® 6 18*4 I 6 1 0 V ® 6 107,- | ............................
Germany Bankers' Marks—
High... I 84lsia @ 947
s
I 95*,
® 95Tltt I ............................
L ow .... | 94*4
® 94i»i6
I 95^8
® 957i«t
I ............................
Amsterdam Bankers’ Guilders—
H igh... I 4 0 V
® 40V
| 40*l#D ® 40*8*
I ............................
Low— . | 40i«*
9 40V
| 40*ie
® 40*16** I ............................
Leas: * i i 6 o ll% . t i* * o fl% . t* M o fl% . Plus: fli1#ol 1%. * * i „ o l l % .

The fo llo w in g w ere th e ra te s fo r d o m e s tic e x o h a n g e on
N ew ? o r k a t th e u n d er-m e n tio n e d o itie s t o - d a y : S avann ah ,
buying, 50o. p er $1,000 d iscou n t; selling, 75c. per $1,000 pre­
m ium ; C h a rle sto n , 12% c. per $1,000 prem ium : New O rlean s,
b a n k , 60c. per $1,000 discount; com m ercial, $1 00@75c. per
$1,000 discount; C h ica g o , 25c. per $1,000 prem ium ; St. L outs,
40@45c. per $1,000 prem ium ; San Francisco, 25c. per $1,000
prem ium .
State and Railroad Bonds.—Sales o f State bonds at the
Board in clu d e $16,000 V irgin ia fund., debt 2-3s at 97%,
$2,000 Louisiana con. 4s at 105%, $3,000 N orth C arolina con .
4s at 103%, $1,000 A labam a Class A 4 5s at 102% and $4,000
Tennessee settlem ent 3s at 96%.
The transactions in railw ay and industrial bon ds have
been very large, aggregating nearly $9,000,000, par value, on
Thursday, and prices, follow in g those in the stock m arket,
have been irregular.

Sigh- Low- Closing
est.
est. to-day.
Atchison.............. 88t8 83*4 86*4
Baltim’re & Ohio. 100*8 94*4 100>4
B'klyn Rap. T r... 68*8 58
824
8t P a u l...............176*8 164
171 4
North Western...211*4 203
2064
Lackawanna___ 359*4 2335
335
Illinois Central..159
1494 154*4

H igh­
est.
Louisv. & Nashv.l48*4
Mo. Paciflo......... 111*4
N. Y. Central.......141*4
Pennsylvania__ 140
Reading.............. 824
Southern Paciflo. 674
Union Paciflo...... 116

Low- Closin9
est. to-day138
142

102>* 1081*

134*8 138<4
133
136*4
73*8 77*4
69i« 03i*
105*4 1114

For daily volume o f business seepage 2633.
The follow in g sales have occu rred this w eek o f shares not
represented in our detailed list on the pages w h ich follow .
STOCKS
Wees Ending Dec. 9
Amer Agrloul Chem.......
Preferred......................
Amer Beet Sugar...........
Preferred......................
Amerioan Coal................
Amer Teleg < Cable.......
fe
Amer Tobac Co (old) p f..
Assoc Merchants, 1st prf
Chic R I & Pacific..........
CieveLorain & Wheel...
Ft W & Denv C, stmpd..
General Chemical...........
Preferred......................
Homestake Mining........
Knlck loe (Chicago).......
Preferred......................
Manhattan Beaoh...........
Nat EnamA Stamping..
New Central Coal...........
N Y Dock Co, pref.........
Ontario 8ilver M ining...
Plttsb Ft Wayne & Ohio
Quicksilver Mining........
RR Securities 111 Cent’i
stock trust certificates
United Fruit Co.............
Vulcan Detlnnlng..........

Sales
for
Week
4,366
850
100
1,000
100
8
100
100
121
300
100
100
311
10
100
200
200
3,380
ion
17
400
112
200

Bang* fo r Week
6
f
9
5
3
6
9
7
5
8
5
5
6
0
e
6
8
6
6
6
5
7

24*»Dec
87 Deo
25 N ot
80 N ot
220 May
94 Nov
149 N o t
98 Deo
173 4Dec
75 N ot
64 Feb
60 Deo
101 Dec
73 N ot
1 2 4 0ct
66 Oot
14 HJ’ly
i
23 4 0 ct
45 Feb

460 92 Deo 9 934Deo 7
200 108 Deo 5 108 Dec 6
600
9 Deo 9 11 Deo 6

85 Feb 93 May
96 Feb 1124J’ne
2°»N ot 11 Deo

22 Dee
86 Deo
25 Deo
80 Deo
186 Deo
91 Deo
148 Deo
96 Deo
1734D6C
70 Deo
40 Dec
60 Deo
100 Deo
63 Deo
1 1 4 Deo
64*4 Deo
94D eo
214 Deo
42 Deo
39*4 Dec
3 4 Deo
1844Deo
2 Dec

3 244Deo
S 87 Deo
9 25 Dec
5 80 Deo
8 185 Deo
5 91 Deo
9 148 Dee
7 96 Deo
5 1734Dec
7 70 Deo
6 40 Deo
6 60 Deo
5 101 Deo
9 63 Deo
6 114Dec
6 05 Deo
94D ec
8
8 28** Deo
6 42 Deo
5 39*4 Deo
34D eo
6
7 184 4Deo
2 4 Deo
5

Semge since Jan. 1
13 Mar
72*4 Jan
19 Sep
74 Sep
180 Oot
82 Jan
1304Feb
90 Oot
ISO J’ne
60 J ’ly
40 May
43 Mai
94 Feb
49 4Ma)
8 Sep
48 4 Jan
6 4Mar
14 Sep
42 Nov
374Nov
4 Apr
179 4 J ’b
*4J’ne
e

50 4 N

ot

S4N

ot

4 4 Jan
18440ot

Ontside Market.—The feature o f the outside m arket this
w eek was the sharp break on T hursday in the price o f M on­
treal & Boston C onsolidated Copper. This stock has been
w idely advertised and has recen tly been one o f the m ost
active issues on the “ C u rb .” The price fluctuated betw een
3% and 3% u ntil Thursday, when, after opening at 3% , it
sank qu ick ly to % on extrem ely heavy selling, chiefly caused
by the difficulties in w h ich the house that had been m an ipu ­
lating the shares becam e in volved ; later there was a recov ­
ery to 1% ; to-day the price ran up to 1% and closed at 1%.
Greene Consolidated Copper advanced from 31% to 34%,
and after a reaction to 32% it rose again to 34%;
the last sale to-day was at 34.
F ollow in g a gain
o f 1% to 43%, Tennessee Copper dropped to 34 and then
m oved up again to 38%; British Colum bia Copper lost 1%
points to 5% and closes to-day at 6. U nited Copper d eclined
from 12% to 10, and ends the week at 10%. From 124% on
Saturday the price o f Northern Securities stock declined to
120% on W ednesday, and on the fo llo w in g day it broke to
116; to-day there was an advance to 127, and the close was
at 126%; about 60,000 shares changed hands during the
week.
Interborough R apid Transit gained 2% points
to
168%, then
receded to
159%, and
ended the
week
at 164.
Standard
Oil
declined
from
635
to 629 in the early trading, and after a rise to 642 it fell
back again to 634; the final sale was at 638. International
M ercantile Marine com m on advanced 1% points to 14%, but
later fell to 12%; the close to-day was at 13%; the preferred
after a gain o f a point to 30 declined to 26; at the close to-day
it recovered to 28%. Greene Consolidated Gold m oved up
fro m 12% to 13% and then dropped to 11%, closin g at 12%.
Outside quotations w ill be fou n d on page 2633.

Few York Stock Exchange—Stock Record, Daily, Weekly and Yearly
O C C U P Y IN G
STOCKS—H IG H E S T A N D L O W E S T S A L E D EIC ES
Saturday
Deo. 3

M onday
Dec. 5

Dec. 6

*34
87
37
*34
37
*64
68
* 64
68
68
88*4 887e 87% 8 8 4
88%
103% 103 4 1033 103 103 4
4
153 155
1654 153 154
99 4 100%
994101%
99%
9 5 4 95%
95%
953 95%
4
65% 67%
67
68%
684
*150 160
r150 160
160
145 165 *165 165
165
*70
72
*70
73
134 134% 133l4 13438 132% 134%
71% 71%
704 704
191 1 9 4 4 193 194
191 191
49
50%
4 9 34 50*2
50%
50
4 3 4 44
43% 45
44
44
*80
85
►130 145 *130 145
130' 145
23% 24%
24
243
4
2 4 4 25
884
*86
8 8 4 *86
......... 73
►
* 6 7 4 70
*66
73
36
36
36
36
*36
37%
1734175%
1754176% 1744176
1843 184% 1 8 4 4 1 8 5
4
1X5 185
210 211% 2 0 9 4 2 1 0 4 210 2 1 0 4
236 236
236 236
157 157 *155 158
*157 159
190 195 *190 195
*190 195
13
14%| 14
144
13%
13
24% 25%
24 1 25
4
25
*24
12% 13
12%
12
1 2 4 133s
42
44 78
43
43
91*4 91% * 8 9 4 91
92
924
110 115
*110 118 *110 118
22% 22 7s 2 2 4 2 2 4
224 224
5 8 4 59
58% 58 7
<
*58
68 4
34% 35
33% 3 4 4
354 354
188 189
18741904
1 8 7 4 188
348 355
358 359%
340 343
34
33
34
*334 344
88%
8 7 4 88
8 7 4 88*8
25
27
* 2 2 4 24
244
7
7%
7
*7
74
28% 29
28%
, 28% 29
79%
79% 79%
784 784
*12% 13
13
134
*12% 14
2 4 4 24%
2 3 4 243
4
*233 25
4
3 9 4 41
393 403
4
4
, 393 40%
4
74% 77
733 7 4 4
4
/ 733 74%
4
563 573
4
4
57% 5 8 4
5 6 7 573
s
4
60
63
63
*60
63
*60
30
83
83
*80
83
*80
*210 230
*218 230
♦210 230
*81
*81 . . . .
19
1 9 4 19%
19*2
*18
19
93
94
94
90
8 9 3 90
4
92
95
9 1 4 93
914 914
157% 159
1564157%
1673 1 5 8 4
4
301 304
4
80% 31
3 0 1 30%
4
56
663
4 56
67%
56
L 56
39
38
38
*37
38
. 38
823 83%
4
824 824
83
83
30% 3 0 34
303& 30%
294 304
51% 51%
5 1 4 53
523 53
4
*1618
*14
16
18
*16
*47
61
*47
61
51
*47
__
40% 40%
41
414
4 1 4 42%
100 105
*100 105
*100 104
*270 . . . .
*270 . . . .
*270 .........
62 4
* 5 8 4 6 2 4 *58
*59
63
4
1 4 6 4 1 4 8 % 145% 1 4 7 1 144% 147 %
1674168
168 1 6 8 4 167% 108
82
824
8 1 4 82
82% 82 4
4
124% 1253 1233 1243* 123 124%
4
22
23
22
224
22
22%
*140 150
*135 160 *135 150
64
6334 633 *63
4
6 3 4 6 3 34
*93
98
*93
*93
98
9 0 4 91
9 0 4 9 0 34
91
91
1464147
1464147%
* 1 4 5 4 146
34
343
4
34
34%
3338 33%
64
64%
63% 6 3 34
6 3 4 654
1103 llia e 1 L 0 4 1 H 4 1U9% 111
4
146 146
146 1 4 6 4
147 147
423 423
4
4
42% 42%
42 % 42%
*23% 243 * 2 3 4 2 4 4 * 2 3 4 24*4
4
1 3 9 4 141% 139 4 1 4 1
1404141
4 5 4 45%
45
464
46% 47
*112 120
*114 121
*114 120
77
774
75 4 76 4
78
78
197 197
1 9 7 4 §1974 $197 197%
43% 44%
43 4 45
4 3 1 45
4
75% 77%
75% 7 6 4
75% 763%
*90
94
94
94
*92
94
77
77%
*78
784
78
78
*98 105
*98 102
*98 103
*82
84
83
83
*824 8 3 4
139 140
1383 139
4
138% 139%
30
30
*81
32
31
31
*76
80
«70
70
*75
80
*34
*64
884
103%
1544
99%
*95
67%
r130
155

78 4 80
76% 7 8 4
*104 106
10541054
79% 82%
78
794
89
91
89
89
82
83%
8 0 3 82
4
3 6 4 37
i 36% 3 6 3
4
8 5 3 853
4
4
84% 85%
70
70
17
•16
* 1 5 4 17
*66
60
60
*56
*27
29
* 2 7 4 29
*77% 78
77% 78
68
69
68 4 6 8 4
*180 185 *175 186

73
106
79%
91
82%
35
834

Dec. 7

Thursday
Dec. 8 '

*30
35
*32
86
*60
66
*63
66
83% 86
844 864
100% 102% 102 103
1474151% 1504153%
94% 99
97 4 1 0 0 %
95
95
$93% 95% * 9 4 4 95%
60% 63%
63
661
3
56
63%
*150 160
*150 160 *155 165
*155 165
*155 160
*70
71
§814 814
127% 131% 1 2 9 4 1 3 1 %
70
71
6 8 4 70
1934194
189 4 1 9 0
1894191
43% 48
45% 47%
47%
*40
44
*40
43
40
41
*80
85
80
85
*130 145
*130 145
21% 23
20% 2 2 4
*86
................................ . *86 8 8 4
70
*67
70
65
67% *64
35% 36
32% 33
164 172
1684171%
182% 182%
*184 185
180 182
2054209
203 2 0 6 4 206 2 0 6 4
*154 158
*190 195
12
13%
23 4 25
11% 13
42
42
87% 90%
*110 115
20
22
68
58%
*33% 34%
186 188%
345 350
33
32
86
864
28
*24
6
6%
28% 29
79
78
*12% 1 3 4
23
234
38
404
73% 76%
55% 5 8 4
63
*60
83
*80
220 220
*90
93i
92% 94
1524156*
294 314
56% 56%
38
38
8 2 ! l 82%
271 1 29%
61%
50
*16
18
51
*47
41i
*38
►
100 103
►270
*59
624
1414145%
167 167%
80
81%
121% 123 4

21

22 %

r134 150
63
64
*92
98
88 4 90%
145% 146
32% 33
61
64
1074110%
144 144
"41
42
2 3 4 23
137 140
42 4 45

112

774
•197
40%
75%
*90
76%
*98
*814
136
*294
*75

120

774
197
43%
77
94
76%
105
834
138%
31
80

*150 156 *150 156
192 192
*185 195
12% 1 3 4
11% 12%
20
234
23
23%
10% 1 1 4
11
12%
42
42
89% 89%
87% 8 9 4
*110 118 *110 115
20% 21%
194 204
57% 57%
58
58
*30
33
* 3 2 4 34
183% 186% 185% 187
335 335
#335 335
31% 31%
3 1 4 31%
83% 86
8 5 4 86
*24
26
6
6%
5
6
28
28®
27
28%
78
78
12
12
1 1 4 12%
244
2 3 4 2 3 4 *21
34% 38
36
38%
7 1 4 75
74
75 4
54
57
53 4 5 5 4
*60
63
"6 0
63
*80
83
*80
83
220 220
* ......... 86 * ......... 86
*18
19
18
18
______ __ 90% 92
92
92
9 2 4 92%
149% 153% 152% 1 5 5 4
25 4 29%
29 4 29%
*53
50
*50
54
*35
384
81
82%
8 1 4 83
27
27%
244 274
49
51%
474 494
* . . . . . . 18
*16
18
*47
61
*47
53
32
38
*35
40
*96 103
100 100
*270 ......... *270 .........
*50
62 4 *56
624
138 143
141 143%
164% 166% #164 165
75% 81
79
804
1164122
119% 121%
1 8 4 21
20
214
134 134
*134 350
*60
64
•- •
•
------ • - ................ *92 98
86
89
90
90
*145 148
30% 32%
31% 33
60% 62%
62
63
102 4 1 0 7 % 106 108%
141 1 4 1 4 142 144
40% 40%
41
42
23 4 23 4 * 2 2 4 2 3 4
134% 138
137 4 1 3 8 %
40
42
42
43%
*112 120
*73
77
$197 197 §197 1 9 7 4
40% 4 3 4
4 3 4 44%
75% 78 %
7 4 4 76
*90
94
75% 75%
74
744
*97 105
*98 105
*80
83
*80
83
133 136% 135% 137
*28
31
* 2 8 4 31
*76
80
*75
80

794
7 5 4 79%
75 4
107 *104 106
♦104
82%
77% 80%
73%
91
90
90%
89%
81% 83
80%
83%
364
84
36%
30
83
84
844
814

*16
1 7 4 *16
174
*56
68
56% 56%
*27 4 2 9 4 * 2 7 4 2 9 4
78% 78%
77
78
68 % 68 %
67
684
175 184 *180 185

63%

77
79
77
105 *104 105
77%
76
78%
89% 90
89%
82
81
81%
34%
324 344
83
84%
834
*15
17
*62
68
"2 4
27
*77
79
66% 67
67 4
*175 184

PAGES

STOCKS
N E W Y O R K STOCK
EXCHANGE

Friday
Dec. d

37
*34
67
*64
85
102% 103

TW O

Range tor Drevioto
Sales 01 Range lor Year 1904
On basis or 100-share lots
Y ea r(1903)
the
Week
Lowest
Highest
Lowest
Highest
Shares

Railroads*

25 J’l y l l 34 Nov 7
§49% J’ne 8 66 Novi 8
Atch. Topeka < Santa Fe. 124,445 64 Feh24 89% Nov26
fc
Do pref......................... 12,660 87% Jan 6 104% Nov25
8,510 104 4 Feb 18 L 554N ov l5
Atlantic Coast Line R E ..
altimore & O h io ........... 329,100 72% M arl4 101% Dec 6
588 87% Feb 19 9 6 4 Oct 19
Do pref.................. .
Brooklyn Rapid Transit.. 132,517 38 F eb 24 70 4 Nov 15
118% Mar 2 160 Oct 3
Buffalo Roch. & Pittsh’ g.
60 §1354 J’ne24 165 Oct 3
Do pref.........................
83 Nov 7 89 Aug2S
Buffalo So Susque, p r e f...
Canadian Pacific............. 62,100 109 4 M arl 2 135% Oct 26
1,300 64 Apr 29 72 N o v i 6
Canada S o u th e rn ....----4,610 1 5 4 4 Feb 20 194% Novi
Central of New J ersey ...
53,500 28% Marl 4 51 N o vl8
Chesapeake So Ohio
2,700 33 Jan 15 47% N o vl8
Chicago & A lto n ...
75 Jan 2 85% Jan 21
Do pref.............
124 Feb 11 143 Oct 15
Chicago So East. TIL, pref.
Chicago Great W estern .. 67,675 12% J'ne 8 26% Nov28
8 0 4 J’l y l 3 90 Nov 7
Do 4 p. c. debentures
300 4 7 4 J’ne 6 74% Nov28
Do 5 p. c. pref. “ A ” ..
1,310 20 J’ne 6 3 9 4 Nov25
Do 4 p .c . pret “ B ” ..
Chicago Milw. So St. Paul. 150,575 137% Feb 24 177% Deo 1
1,100 173 Mar 4 185% Oct 25
Do pref.........................
Chicago So North Western 11,350 161% M arl 4 2 1 4 4 Dec 1
200 207 Feb 8 237 Nov 30
Do pref.........................
100 135 Mar 2 2 160 N o vi
Chic. St. P. Minn. So Om.
100 §165 Apr 28 192 Dec _
Do pref.........................
5 % A u g31 16% N ov 22
Chicago TermT Transfer. 12,310
5,000 1 1 4 Aug31 27% Nov22
Do pref.........................
4 J’l y l l 15% Nov21
15,015
Chicago union Traction.
2,100 29 May24 48 4 Nov25
Do pref.........................
3,200 6 8 4 MaylS 93% Dec 1
Cleve. Cin. Chic. So St. L.
100 Feb 8 115 N ov 23
Do pref.........................
4,250 1 3 4 J’ne 1 24% N ov 15
Colorado So So., vot. trust
2.400 48 J’ne 1 60% N o v i 5
Do 1st pf. vot. tr. cfs.
1,000 17% J’ne 7 37 4 N ovl5
Do 2d pf. vot. tr. ctfs.
elaware & Hudson----- 18.900 149 Mar 12 1 9 0 4 Dec
2,900 2 5 0 4 Feb 23 359% Dec elaw. Lack. & W e st’n.
2,100 18 M arl4 35% N o vi 4
Denver & Rio Grande—
9,650 6 4 4 Feb24 88% Dec 5
Do pref................ ........
2,100 1 9 4 Jan 7 27 Dec 6
Des Moines So Ft. Dodge.
1% J’ne27 14% Jan 23
2,930
Detroit South, vot. tr. ctfs
2% J’ne27 30% Nov 17
4.400
Do pref. vot. tr. ctfs.
1,910 60% J’n el6 79% Dec 5
Detroit United....................
5% J’ne 3 14% N o v l5
800
Duluth So. Shore & A t l..
9% AuglO 2 8 4 N ovl4
925
Do p ref........................
rie....................................... 412,350 2 1 4 Mayl6 41% Nov 9
Do 1st pref.................. 101,800 65% May 31 77 Deo
Do 2d pref.................. 15.900 33 May 16 5 8 4 Deo 54 J’ly 15 6 6 4 Jan 27
Evansv. So Terre H aute..
72 F eb 23 83 N o vi 6
Do pref.........................
200 170 M arl 7 230 Nov28
Great Northern, pref........
70 AnglO 8 6 4 N o vl8
Green Bay<fcW.,deb. ctf.A
54 11 J’ne 1 20% N ovl4
Do
deb. ctf. B
ocking V alley.
3,350 60 May24 94 Dec 5
3,900 77 M arl 2 95 Dec 6
Do pref.........
78,961 125% Feb 24 159 Deo 6
llinois Central.
owa Central___
6,860 14 J’ne 4 33 N o vi 2
Do pref.
2,100 32 F eb 25 59% N o v i4'
anawha & Michigan..
300 22 4 May 9 38 Dec 3
C.Ft.S.<fcM.,tr. cts. pfd
4,090 64% J’ne 1 8 3 4 N ovi 9.
Kansas City So. vot. t r . ..
7,200 1 6 4 Feb 24 31% N ovi 4
Do pief. vot. tr. ctfs. 30,960 31 F eb 29 56% N ovl7
1 0 4 Jan 11 19% Apr 12
Keokuk So Des M o in e s..*
4 5 4 Apr 7 52 A p r 12
Do pref..........................
ake Erie So W este rn ...
3,050 26 M a r ll 43% Dec 1
Do pref.........................
100 85 J’nel7 105 Oct IS
§245 Nov 1 §280 N o vl5
L. Shore So Mich. South’n
46 Mayl7 6 2 4 N ovi 2
Long Island........................
Louisville & N a sh v ille... 130,212 101 F eb 23 148% Dec 3
anhattan E levated... 14,219 139% M a r l2 169 4 N ovlS
etrop. Seeur., sub. rec. 28,350 72% Mar 14 9 6 4 Aug 11
71,200 104% M arl4 130% Oct 21
5 Apr 23 23% Nov22
Mexican Central.
52,215
100 §1194 Feb 1 150 N ov 19
800 40 J’ne 3 67% Jan 18
80 J’ly 29 9 6 4 Sep 16
Do pref.........................
nn. i}. P. So S. S. Mane,
3,700 55 Jan 4 95 Oct 29
116 May 2 150 Oct 29
Do pref.........................
1,300
36,000 14% Feb 24 36% N o v ll
Do pref.
29,400 32% J’ne 1 65% Dec 5
224,015 87 F eb 27 111 4 Deo 1
ash. Cliatt. So St. Louis
1,100 1 0 1 4 Feb 24 147% Deo 2
at.of Mex, non-cum.pl
1,000 34% F eb 25 45%Nov21
Do 2d pref.............
2 0 0 15% Feb 25 25% Nov21
36,300 112% Mar 12 142 Nov30
4,200 25 May 16 47 Dec 3
1 0 1 4 M ayl2 115 N o v ll
Do 1st pref..................
Do 2d pref..................
900 60 J’nel4 78 Deo 3
§185% May 19 199 Oct 21
. Haven So H artf.
704
60,410 1 9 % M a r l4 47% Oct 26
81,225 5 3 4 M a r l2 78% Deo 9
Do adjustment pref.
100 88 May 6 94 N o v l4
1,900 51 F e b 24 80 4 Nov 3
95 J’ly 26 101 Sep 28
1st pref.
Do 2d pref.
100 61% Jan 12 84% Nov 2
1 1 1 4 M arl2 140 Deo 6
563,852
600 17 M arie 32 4 Deo 1
7 7 4 % J’ne 9 81% Jan 23
§68 May31 79 4 NovlO
Do pref.
Ltsb. Jin. C
7,980 55 Apr20 80 Dec 5
Do pref.
400 90 A p r i l 107 Dec 6
831.100 38% M a rl4 82% Dee 0
6,120 76 Mar 1 91 Dec 6
2d pret vot’g tr. ctfs.
6,665 55% F eb 26 83% Deo 5
184.100 19% M a r ll 37% N o vlo
Do pref.
13,250 67% Jan 6 86% Nov28
200 30 Apr 22 70 Dec 3
9 M arl 5 18 N o vl5
Jt. Josephc&Gr’d Island.
7 Do 1st pref..................
100 36 May 17 60 N ot 15
16 Jan 8 30 Nov 16
Do 2d pref..................
600 $61 Mar 1 78% Deo 6
Do 2d pref...............
11,700 39% Jan 6 70 N o vl4
150 Jan 9 185 Dec 1
C.<fcE.I.com stock tr ctfs

A nn Arbor...............
Do pref.

B
(

D

E

H
I
K
L

M

N

25
544
54
84%
106
71%
82%
29 4
121
140

Dec
Dec
Aug
Aug
Dec
Sep
J’ly
Sep
Nov
Sep

41
69
89%
1034
126
104
96%
71%
150
160

Jan
Jan
Jan
Jan
May
Jan
Feb
Feb
Feb
Feb

115% Oct 138% Feb
57 4 Sep 7 8 4 Jan
153 Oct 190 Jan
27% Nov 5 3 4 Jan
1 8 4 Sep 37% Jan
60 Sep 75 4 Deo
105 J’ly 138% Jan
13 Aug 29% Jan
83 4 Sep 90% Jan
03 Oct 85 4 Jan
24 Sep 46% Feb
133% Aug 183% Jan
168 Aug 194% Jan
153 Sep ,2244 Jan
190 Aug 250 Jan
117 J’ly 162 Jan
§165 Nov 194 Jan
8 Aug 19% Jan
15 Sep 36 Jan
3 May 1 7 4 Jan
30 May 50% Jan
66 Aug 99% Jan
112 Dec 119 Jan
10 J’ly 3 1 4 Jan
4 4 4 Aug 72 Jan
17 Aug 48 Jan
149 Aug 1 8 3 4 Feb
230 J’ly 2 7 6 4 Jan
18 Oct 43 Feb
62 Nov 9 0 4 Feb
12 Sep 47 % J an
7 % Aug 20% Jan
14 Nov 39% Jan
55 Oct 90 Jan
7 Aug 1 9 4 Feb
10 Nov 29% Feb
23 Aug 42% Jan
62% Apr 74 Feb
44 J’ly 64% Feb
3 9 4 J’ly 7 2 4 Jan
78 Aug 91 Jan
160 Oct 209 Jan
73 Dec 85 Jan
10 Aug 2 7 4 Jan
63 Sep 1 0 6 4 Feb
77 Oct 99% Mar
125% J’ly 151 Jan
16 J’ly 48 Jan
3 0 4 Oct 77% Jan
2 5 % Oct 474? Jan
62%;Oct 82% Feb
1 6 4 Oct 36% Jan
29 Oct 61% Jan
10 Oct 40 Mar
48 J’ly §55 Apr
2 3 4 Nov 53 J an
89 Nov 118 Feb
275 Dec 3 3 4 4 Jan
49 Dec 83 Jan
95 Sep 1 3 0 4 Jan
126% Sep 1 5 5 4 Jan
7 0 4 J’ly 128% Jan
99% Sep 142% Jan
8 4 Nov 29 Mar
102 May 135 Jan
41 Oct 110 Jan
83 Nov 118 Feb
42 Aug 7 9 4 Feb
1 0 9 4 J’ne 132% Feb
1 5 4 Oct 30% Jan
33 Oct 63 4 Feb
85% Aug 115% Feb
85 Oct 133 4 Deo
3 4 4 Mar 47% May
17 Nov 2 8 4 J’ne
112% J’ly 156 Jan
19 4 Sep 45 Jan
100 Oct 118 Jan
50 Sep 87 Jan
U874 May 225% Jan
19 Sep 35% Feb
53% Nov 76% Feb
85 Aug 93 4 Feb
39% Sep 72 Jan
80 J’ly 100 Feb
50 % Aug 70 Jan
110% Nov 157% Jan
15 J’ly 39 Jan
74 J’ly 9 1 4 May
§7 4 Deo $70 Sep
55 Sep 94 Jan
90 Oct 115 Jan.,,
3 7 4 Nov 69% Jan
73 Sep 89% Feb
55% Nov 81 Jan
19 4 Aug 53% Jan
55%.sep 86 Jan
30 Aug 72 Jan
7 Oct 15% Jan
32 Oct 58 Jan
13 Oct 24% Jan
68 Aug 88 Feb
39 Dec 78 Feb
148 4 Sep 170 J’ly

B A N K S AN D TRUST COMPANIES— BROKERS’ QUOTATIONS
K ankn

B id

A sk

B id
A sk
t310%
NEW YORK
190 ~ 200
Ajmerica 1 .. 510 530
1
450
Amer Exch. 12724 280
350 400
Ast o r .......... 775 825
t243 4
B ow ery!)___ 325
145 150
Butch’ s So Dr 165
395 402
Century II..
180
150 160
650
phase ........
1 5 7 4 165
Chatham ..
330 340
180 200
phelseaExclj 175
3450 3750
Chemical
4275 4325
300
165
176
725
* Bid and askedprices; no sales were made on this
t Sale at Stock Exchange or at auotion this week.

B an ks
C it y ...............
Coal So Iron.
Colonial 1 . . .
j
Columbia 1 ..
|
Commerce...
Consolidated
C’rnExchge!
Discount^..
East River..
Fidelity^ . . . .
Fifth AvelJ..
Fifth..............
First..............

B id
300
+2274
1416
140
500
170
350
590
225
170
535
600
225

Ask

Bid Ask
145
233
515 530
1150
105
318 325
175
264 268
380
275 2 SO
620
1424
245
255 265
165
17 5
545
180 190
f437 4
235
215 226
day. § Less than 100 snares. % Ex rights, u state
s Trust Oo. certificates.
h Assessment paid.
»
B an ks
14 th Street^.
F o u rth .........
G allatin.......
Gansevoort!)
Garfield........
G erinan Ami]
German Ex!j
Germaniall ..
Greenwich 1
)
Hamilton!! -Hanover.......
Imp So Trad.
Irving .........

B anks
Jefferson!}...
Liberty
Lincoln.........
Maiden Lane
Manhattan!!.
Market So Ful
Mechanics' .
Mech So Trail
Mercantile..
Merch Exch.
Merchants’ ..
M etrop !| ___
M t Morris!]..

Bid A sk
Bid Ask
B an ks
P h en ix ......... 130 136
290 315
Plaza! 1
....... . 500
1 90 200
Prod Exch!). 175 186
500
Riverside!!.. 250 280
1300
Seaboard ___ 625 675
200
Secon d......... 600
325 335
Shoe So Leth. 150 155
150
State!!........... 1000
225
34th Street.. 190 200
120
12th Ward!]. 120
-4 0
23d W ard!!.. 125
265 205
Union ExchU 185 195
625 535
United........... 93
96
285 300
han k s,
a Ex dividend and rights. b N ew stock.
Sold at private sale at this prioe.
R anks
M utual!!..
Nassau!! ___
New Araster
New York Co
N Y Nat Ex
New Y o rk ...
I9th Ward!!.
Nortli Amer.
Northern.
Oriental!].
Pacific!! ..
Park.........
People’s^.

2628

StO G Ji

Record—

S T O C K S --H I G H E S T A N D L O W E S T S A L K D R JOES
Saturday

Dec. 3

M onday
Dec. 5

T u estiay
D ec. 6

W ednesday
D ec. 7

27
28%
2 7 4 29
27
27%
oH % :.'.i %
59
00%
58 4 6 0 %
65% 6 0 %
(ill:'i 67 H
i
6 6 4 67
117%
1 1 7 % 117 % . . . . . . - - - - - - 117
3 6 % 30 %
30*8 37 4
2 5 % 37 4
9 6 % 97 4
9 5 % 97
95% 90 %
............
*90 4 98
* 9 0 4 100
37
37 %
37 4 3 7 %
37
3734
*130
133
* 130 133
* 132 133
* 2 2 % ‘- 3S ? * 2 2 4 24
23
234
35 4 37 4
3 0 4 36%
3 (P i 30 H
i
55 4 55 4
54 4 6 0 %
55
55 H
i
1 0 7 % 107%
107
107
1004 1064
1144 1154
95 4 9 5 %
24
24
08
08 78
23
234
46 4 47 4
204 204
4 7 4 48
30
*2 8
2 3 4 23 %
4 7 4 4 7 7s

26
26%
56
68%
63% 6 0 4
116 4 117
35
304
95% 90 4
*9 6 w l o o
,
3 5 % 37 4
131% 132
23 4 2 3 4
3 5 % 37 4
6 1 4 65 4
105 1 0 6 4

1134115%
95
95 4
23
234
08
68
23
23%
45 4 4 6 %
20
20 L
46
47 4
27 4 28
23
23 4
4 6 % 47

110% 1 1 4 4
95
954
22 4 22 4
67
67
22
23
43 4 4 5 %
18 4 19
4 0 % 40 4
27
27
22 4 23 4
4 5 % 46%

§235
240
4235
245
* 2 4 0 249
174 184
19
19
1 8 4 19
70
69 4 69 7s *6 9
70
70
7 6 34 8 0 %
8 0 4 82 4
8 1 % 82 4
3334 3 4 %
34 4 3 4 4
334 344
92 4 93
92 4 9 3 ^
9 2 4 93
36
37%
35
37 4
3 3 4 34
9 5 % 96
96
*92
9 0 4 *92
3 0 4 38
3 4 4 3 4 4 *3434 35
2 1 1 4 2123 4
213
*211
* 2 1 0 214
10
10
10
134
* 9 4 10
10% 114
10 4 1 0 4
104 104
44
4 0 4 48%
45 78
43
44
8
8%
74
84
84
84
3 8 4 3 9 % * 3 8 4 39
3 7 34 3 8 %
18%
1 7 4 1 7 4 *17
*164 1^4
42
42%
42 4 *3 9
*37
42
344 354
3434 35 4
3 4 7e 3 5 4
*103
104
10*24 1 0 3 4 1 0 2 % 1 0 2 %
0
6
74
64
64
04
26% 28%
204 204
, 2<534 2 7 %
81
81%
SI
82%
8 1 4 82 4
113
113
1 1 2 4 113
1124 H 3
*160
*160
170
170
170
170
100
*9 8 4 99
*98
*98 100
14 4 14%
14 4 15
1 4 4 15
5134 55 4
55
55
5 5 4 50 4
147 4 1 5 0 %
149
1 4 8 4 1 4 9 4 148
139
140
137
137
14 8
1 48
'1 4 7 4 1 4 8 4 *T4S 149
9434 9 5 %
94
954
954 954
23
234
2 3 4 23^4
234 234
94
94
94
94
934 934
1164 1164 1114112
1 1 6 117
* 2 1 9 4 2 2 1 4 *2 1 8 221
2 2 0 22 2
11
114 124
114
114 114
01
61
014
00
01
54
57%
50 4 57 4
5 6 4 58
95
* 9 3 4 ..
95
93 4 93 4
1 8 % 19%
1 8 4 19 4
16% 1 7 4
212
213 4
2 1 4 % 2 1 5 4 2.12 215
130 1 3 0
*129% 1 3 0 4
* 1 3 0 % 131
23% 23%
24
23
224 234
7 9 % 80%
SO
SO
794 80%
3 9 % 39 3 ^
39-8 4 0
3 9 '4 3 9 4
07
66 4 60 4
6 0 4 68
83%
s3
85
82
814 824
192 " 1 8 8 1 9 0
391
1 9 1 4 188
22
20
2 1 4 23
20 4 2 0 4
7 8 4 78 %
77
78 4
77 4 78 4
61
65 38
*60
01
*60
bl
39
39
40
40
* 3 9 4 40
*85
88
85
85
*85
88
564 564
5 6 4 56 4
56% 5 0 12
* 115
116 ^ *114 1 1 0 4
24% 2 5 4
2 4 % 2 4 58
2 3 4 24 4
974
97 4 98
964 974
162%
1 6 3 ’ 16*1 §1 6 4 4 1154:4 1 6 0
102 4 1 0 3 %
1 U 4 4 1 0 4 4 102 4 1 0 4 4
45
40 4
45 4 47 4
4 7 4 484
111%
1 1 1 4 1 1 2 4 111
1 1 2 Sj 1 1 0
4 0 38 4 1 %
39 4 4 0 %
4 0 4 41%
91
914
90 4 9 1 4
9 1 4 92
243
24 0 24 0
2 3 8 4 238 4 * 2 3 7
32 4 3234
32 4 3 2 4
32 4 33
93
934
9 3 4 94
92 4 9 2 4
16% 1 7 %
164 174
17 4 1 7 4
69 4 r 0%
»
0 9 4 70%
7 0 4 71
28
28%
28 4 29%
2 / 4 2S4
96
97
97
9 6 4 9 7 4 *9 i
62
61
61
63
62
63 4
1 0 2 4 1 04
*•102 104
1 0 2 105
44
3%
4
34
*3 4
34
7 5 4 77%
7 4 4 704
7 5 4 76 4
* 3 7 4 39
38 4 38 4
38 4 3 8 4
114 114
74
7434
20
19 4 2 0 %
*20 4 2 0 4
20 4
79
79%
78 4 79%
7 9 4 BO4
<120 125
*120
125
*120
125
1 7%
17
19%
15
144 154
1004
9 8 4 IO 6 4 103
974 984
82
82
8 0 4 81
82
82
3 2 % 3 3 34
33 4 3 3 4
33 4 33 4
92 4 93 4
93 4 93 4
9 2 4 93
31% 32%
31 % 3 3 %
3 2 '4 3 2 78
93% 94%
94 4 9 5 4
9 3 4 95 4
42
44
43 4 44
4 2 4 44%
1 1 3 4 1 1 3 '%
1 1 3 4 1 1 3 4 113 4 114
42
40
41
41
41
4 1%
*240 249
*2 4 0 249
* 2 1 0 249
92
9 2 % 92 4
924
9 2 4 92 4
1824183
1824184
1 8 4 184
* 1 92 2 0 0
-1 9 4
1964
*192
194

§235
240
1?34 17%
08
68 4
6838 77
3 1 4 3334
9 1 % 92
3 5 % 36%
*95
97
37
88 4
§211
211
1 1 4 12%
1 0 % 11
44
484
734
8
3 7 % 38 4
§1734 1734
*3 8
414
33
344
102
102 4
6%
7%
2 6 % 28
7 7 4 814
1 1 1 % 113
*1 0 0
170
99
99
*14
1434
54
54
141
148%

1154110
954 054
2 3 4 23 4
68
08
234 234
4 0 4 47
20
20
474 474
*28
30
2 3 4 24
4 7 % 4 7 "t

*148 149
92% 9 4 4
20 4 22%
93% 93%
95
109
*2 1 8 222
*60
63
4 8 4 55%
92
92
17 4 18%
210
2124
*129
1304
22
23
7 9 4 7 9 34
37% 3 9 4
04
664
78
79
1 8 5 4 I 8834
20% 2 2 4
77
784
04 4 05 4
*39
40
*8 5
88
55
56
*1144 1164
23 4 24%
*9 0 4 9 7 34
157
15934
100
102%
42 4 4 4 4
107 4 1 1 1
38
39%
89
90 4
* 2 3 7 241
30% 32 4
9 2 34 9 2 3
4
15
16%
0 7 % 70
27
28%
94 4 94 4
00
61
* ..........1 0 6
34
34
70 4 74%
*3 7 4 3 8 4
11
1L
74:
74
18
1934
7734 79
*120
125
1 6 % 18 4
10141054
79
80
3 0 4 33
91
92 4
29 4 3 t %
9 o % 93-^
41
43
1U 4U 3 4
36% 33
*2 4 0 249
9 1 % 92%
179 4 183
194
194

Thursday
Jjtc. 8

J>Yiday
Dec. y

C o n c lu d e d — P a g e
STOCKS
N E W Y O R K STOCK
EXCHANGE

2

V ol.

l x iu

.

R ange jo r Year HDJ4
Range lor J^revtoug
Sa Us of
On basis o f 100-s n a r t Lots
Year (l'JOJj
i)u
Week
lo w e s t
H ig h est
Shares
Low est | H ighest

25% 2 6 4
23 4 35 4
55
57%
50
50 4
6 1 % 63%
G 0 '„ 63
115% 117% 1 1 6 % 118 4
31% 35 4
3 3 4 35
95
95%
94
964
*96
100
* 9 6 4 lo o
31% 3 5 4
32
35%
130% 1 3 1 % 130 -2 130 4
* 2 2 4 23 4
*224 2 1
35
364
33 4 35 4
51
c54 4
53 4 55 4
105 105
* 1 0 4 4 100

9 % J ’ n e ] 29 D e c 5
St. Ixiu ia S o u t h w e s t e r n .. 1 6 .3 0 0
12 A ug) 3 0 J a n
2 5 % J ’ nc; ] 6 0 % D ec 0 24
D o pref
Aug
i
S o u th e r n P a c ilic C u ......... 107 ,0 0 0 -11 H M a r l ! 68% N o v 15 3 8 % S ep
68% M a r
16,485 113 S ep 12 118 % _\0 v 15
D o p r e f............................
36% Jan
S o u th e r n v .i r . ef*. im p e d 8 8 2 ,0 5 0 18% F e u 24 37 % D e c 5 1(5% O c t
1 0 ,5 4 0 7 7 % J a L 6 97 H D e c 5 69 % O ct
i
i
D o p r e f.
do
96
F eb
90 F e b 25 9 7 N o v 11 85 J 'n e 9 6 % M a r
M . <c O. s lo c k tr. c t f s . . .
S
'P e x a s <fc P a c ific ............. 3-9,850 20 % J lie 7 3 8 % N o v 14 20% Aug* 4 3 % F e b
900 1 )5
M a r l 4 134 O c t 22 100 O ct 128% J a n
r b ir d A v e n u e (N . Y . ) . ..
600 17 H J ’ ne21 27 % O c t 2 I, 17 % O ct
i
3 7 % J an
T o le d o R a ilw a y s A L igh t
8 ,1 1 b 2 LH M ay 27 38 N o v 30 ] 15 S ep
i
31% Jan
f o L St. L.
W . v . tr. c t f s
D o p r e f. v o t . tr. c t fs . 11,95
32
F e b 24 57% N ov3U
48 J an
2 4 S ep
1,155 87 H F e b 23 a.107^ O c t 31
T w in C ity R a p id T r a n s it .
i
79 O ct J 22% J a n
15.8 A u g l 1 § 1 6 5 N o v 4 155 j w §159% J>VC
D o pref
i( )9 % n i % 1 [ m o n V a c i l i c ..................... 5 8 3 ,7 0 0 71
10534 111
M a r l 4 117 N ov 2 1
65% A u g 104% J an
...... ......
4 ,8 6 0 JcSb % F e b 25 9 6
9534 96
D e c 9 83 % A u g 95 % F e b
...... ......
22
2 3 4 U ni t I iy s In v ’ t o f S a n F ran
2 ,0 0 0
9
F e b 17 25 D e c l|
9 D e c 22 % J a n
66
68
164
07 %
2 ,7 0 9 42 H A p r 19 69 D e c 2 35 J ’ ly 64 % J an
a
D o p r e f ...........................
N o v i 21 16% O ct
2 1 % 2 2 4 \\ r a b a s h ............................... 1 0 ,8 0 0 15 M ay 16 25
20
22
32% F eu
4134 4 4
43
45
55% F e b
2 7 % S ep
1 * D o p r e f ......................... 19,970 32% F e b 24 48 % N ov 18
2 ,3 0 0 1 4 % .P ly 25 2 2 % N o v 14 12 J ’ ly 2 7 % F e b
17 4 20
174 184
W h e e lin g <fc L a k e E r i e .. .
3,631 37 J ’ ly 27 52% J a il 22
4 4 % 45%
4 5 4 46
40% N o v 62 M ay
D o 1 s t p r e f ...................
1 ,5 0 0 2 l % J ’ n e29 32 N ovl5 | 20 S ep
26
26
2 6 4 27 4
3 8 % F eb
D o 2 d p r e f ...................
20% 22
2 1 % 2 2 % W is c o n s in C e n t. v . tr. cfs.
7,105 16 J ’ n e 6 25 N o v 16 1 4 % O ct
29% F e b
4 5 J4 46
4434 45%
4 ,5 5 0 37 J ’ n e 6 4 9 % N o v l 8
D o p r e f. v o t . tr. c t f s .
33 N o v 55 % F e b
I n d u s t r ia l ifc U i s c e l l
*236
250
163 §220 F e b 2 25 0
O ct 29 §2 0 4 J a n 235
*235 250
F eb
A d a m s E x p r e s s ...............
2 ,8 0 0
15
16%
16% 17 3
4
6 M ar 22 21% N ov21
7 D e c 23
F eb
U i8 -C lia lm e r s ................
*65
70
1 ,0 0 0 3 9 H M a r2 5 71 N o v 2 6 § 6 0 % N o v 8 7 % F e b
*56
65
a
I )o
p r e f .........................
63 4 6 9 % A m a l irama t e d C o p p e r ........ 1,105,510 4 3 % F e b 8 8 2 % D e c ] I 3 3 % O ct
5 8 4 68
7 5 % M ar
3 2 % 33
30
32 4
A m e r ic a n C ar < F o u n d r y 2 2 ,1 2 0 14% J ’ ly 1 3 4% D e c 5| 17 % N o v 41 % J an
fc
4 ,5 5 1 67 J a n 6 93 % N o v 2 9
89
914
92
92 4
60% N ov 93 Jan
D o p r e f ...........................
35
364
35 4 3 6 % A m e r ic a n C o t t o n O i l........ 1 9 ,8 0 0 2 4 % J ’n e l4 3 ? 78 D e c 6 1 2 5% A u g 46 % F e b
30 0 88 % J ’ n e 6 97 N o v 1, 82 J ’ ly 9 8
__ . . . . . . . . .
*9 4
97
F eb
D o p r e f ...........................
2 ,3 0 0 22 A u g 17 3 8 % D e c 7 24 N o v 4 1 % J a n
36
37
A m e r ic a n D is t.T e le g r a p l)
55 0 LSU J ’ n e 2 21 9 N o v 2 2 171 A u g 235
*2 0 9 2 1 2
§ 2 0 9 211
Feb
A m e r ic a n E x p r e s s ..............
1()34 1 1 4
9 ,3 0 0
5 A u g 3 13 % D e c 6
6 J ’ ly 2 9 % J a *
1 1 4 11% A m e r ic a n G r a s s T w i n e ..
1 8 ,0 9 5
9 4 10 4
2 % J a n 5 11 % D e c 6
11 % J a i
1 0 % 11
2% O ct
A m e r H id e & L e a t h e r —
39 4 46
37% Jan
4 4 4 46
D e p r e f ........................... 4 2 ,5 4 6 l l % J a n 5 4 8 % D e c 6 1 0 O c t
1 5 ,4 6 5
9% N o v 2 1
6 % M a r2 4
74
7%
7%
8 4 A m e r ic a n I c e .......................
4 O ct
11% J a n
5 ,9 0 0 2 4 % M a r 24 42
O c t 17
37
38 4
38% 38 4
1 6 % O ct
D o p r e f ...........................
42% Jan
1 ,2 7 7
7 J ’ n e 2 2 0 % N o v ib j
16
16
5 J ’ly
19% J a n
16 4 16 4
A m e r ic a n L in s e e d ..............
44 9 2 2 % j ’ n e 1 4 2 % N o v i 6 2 3 % N o v 4 8 L J a n
*37
40
Do p ref
30
33 %
3 2 4 3 4 4 A m e r ic a n L o c o m o t i v e .. . 3 4 ,9 5 0 1 6 % J a n 6 3 6 % N o v 2 8 i 1 0 % O ct
3 1 58 * 'e L
>
3 ,5 6 1 7 5 % J a n 6 105 N o v 2 6 , 6 7 % O ct
1014102 4 1024103%
95% F e b
D o p r e f ...........................
t% N o v l8
6
64
2% J ’n e l6
2 % M ar
6%
7 4 A m e r ic a n M a lt in g .............. 2 0 ,6 7 0
5 % F eb
2 5 % 26 4
24% Jan
25 4 27 4
D o p r e f ........................... 2 1 ,5 0 0 16 J ’ n e 3 2 S 78 D e c 6 1 4 % S ep
7 5 % 80
79
8 0 % A m e r . S m e lt’ gcfc R e fin ’ g. 7 7 ,8 6 5 4 6
52% F eb
F e b 25 8 2 % D e c 3 1 36% O ct
4 ,0 5 0 88 % J a n 6 115 O c t 24 8 0 % O ct
110
1 1 1 % 111
111%
99 % F e b
D o p r e f ...........................
10U 110 J a n 21 170 N o v 16 9 0 A u g 1*26 M a r
*1 4 5
160
A m e r ic a n ft m i ft
30 0 85 J a n 6 9 9 % N o v 3 0
*96
100
D o p ref
80
S ep
98% Jan
3 ,8 0 0
1 2 % 14
1 1 4 13
3 % D ec 20 J an
A m e r ic a n S te e l F o u n d r y .
3 % J ’ ue3u 15% D e c 2
5 ,2 7 5 2 6 J ’l y 7 57 % D e c 2 3 6 D e c 6 9 % F e b
52 4 53
49
50 4
D o p r e f ...........................
13434 143
1 4 0 4 H 3 4 A m e r ic a n S u g a r R e fillin g 1 5 7 ,5 4 0 122% M a r 7 15 3 N o v i 7 1 0 7 % O ct 134% J a n
4 o 0 123 J a n 4 141 N o v 18 116 A u g 123 D e c
D o p ref
240 121
§1 4 3 % i~43% § 1 4 6 4 140 4 A m e r . T e le p li. <fc T e l e g . . .
F e b i t 149 % N o v 2 9 117% O ct 169 F e b
l/e c 2
87
92%
A m e r .T o b a c . (n e w ) ,p f. c t fs 4 5 ,0 0 8 8 5 % I n o y 3 96
89 4 92
5 ,0 1 5 10 J a n 4 25 N o v 2 1
20
21 % A m e r ic a n W o o le n ..........
2 0 4 ‘31
7 % O ct
1 4 % ^ e,J
1 ,1 3 3 69 J a n 25 9 4 N o v 2 8 65
89
9 14
9 2 % 93
8 0 J an
D o p r e f ...........................
O ct
8 ,6 0 0 61
98
104
100 104
F e b 2 0 12 0 % N o v 2 1 5 8 O ct 1 2 5 % F e b
A n a c o n d a C o p p e r ...............
7 00 185 M a rlO 2 2 9 % O c t 19 170 S ep 225
217
218
*2 1 0 220
Jan
O r o o k l y n U n io n G a s ___
9 ,6 0 0
15% Jan
5 J ’l y 18 12% D e c 6
10
11
5 O ct
10 4 10% O r u n s w . D o c k & C .I m p ’ t
2 ,0 5 0 47 % F e b l '
62 % D e c 5 4 0
A 1 g 55 J a n
1
*60
62
R o t t e n ok Oo
37
48%
/ lo io r a d o F u e l <fe I r o n . . . 1 4 1 ,0 8 0 25 % M a r l t 5 8 % N o v 2 b
24 N ov 82% Jan
4 3 4 4:8
175 63 A p r
95
D e c 5 65 D e c 122 J a n
*8 5
.......... \ j D o p r e f
36
17%
8 J ’ n e28 1 9 % D e c 5
9 % N ov 2 2% F eb
16% 1 8 4 C ol. & H o c k . C o a l <fc Ir o n . 1 6 ,6 0 0
O c t 19 164 A u g 22 2 J a n
205
210
2 0 7 % 2 0 9 % C o n s o lid a te d G a s (N . Y .) . 39.46U 185 F e b 8 22 0
1,200 lU l % J a n 4 131 D e c 1 94% A u g 119 J a n
1 2 7 % 1 2 8 % C o n tin e n ta l T o b a c c o , p r e l
9% M ay 9 26% N o v lB
2 1 % 22
19 4 21%
15 % N o v 35 M a r
C o rn P r o d u c t s ..................... 2 3 ,0 8 1
3 ,9 9 8 65 M a r 9 82%. N o v i 5 60 N o v S 5% J a n
79
79%
77% 79 4
D o p r e f ...........................
38
38% D is tille r s S e c u r it ’ s C orp . 2 4 ,4U0 1 9 % J ’ n e 9 4 0 D e c 5 2 0 J ’ly 34 % J a n
35 4 3 8
5 ,1 0 0 43 % N o v lU 68
D ec 3
61
06
65
6 6 4 F e d e r a l M in in g <& S m e lt’ g
1 0,5 0U 7 1 N o v 2 3 90 N o v lO
78
80
7 5 4 SI
D o p ref
9 , L50 cl51 J ’ n e2 0 1 9 4 % N o v 2 2 136 S ep 20 4
182 4 1 8 6
F eb
185
187
G e n e r a l E l e c t r i c ..................
9 J ’ ly
19 % J an
| n te r n a tio n a l P a p e r ........ 7 7 ,0 8 0 10% M ay2 6 23 D e c 6
2 0 4 23
19 4 3 0 %
6,0oU 64 % F e *j 9 79% N o v l 5
5 7 % N o v 74% Keb
7 6 4 77 4
7 8 4 79% I D o p r e f ...........................
1 ,4 0 0 26 M a r 1 7 0 % O c t 17 2 3 N o v 73 J a n
03 4 63 4 * 6 2 4 6 4 4 In t e r n a t io n a l P o w e r ........
7 Ou 28 S ep 2 4 l % N o v l S
38
38
38% 39% I n t e r u a t ’ l S te a m P u m p ..
2 8 D e c 4 6 % M ay
1 0 0 71 H F e b 9 87 N o v 3 d
*8 5
88
a
7 0 O ct
89 % J a n
*85
88
D o p r e f ...........................
2 ,4 0 o 36 J a n 4 5 9 % N o v l 5
47% Feb
32
O ct
5 4 4 55
55 4 55 4 \ T a tio n a l B i s c u i t ..............
Nov26| 9 4 O ct 1 0 6 % M ay
1 0 0 1 Jan lo 11/
4
* 1 1 4 4 1 1 6 4 l i D o p r e f..
2 2 % 2 3 % N a tio n a l L e a d ....................... 1 1 ,7 5 0 1 4 % F e b 25 2 6 % O c t 3 1 0 % N o v 2 9 % F e b
22
244
1 ,650 8 0 % J a n 2d 98
O c t 20
95
F eb
75 O c t
D o p r e f..
4 ,2 2 0 12 0 ' F e b 2 5 164 X o v 2 .v 105 O c t 177 J a n
152
157% 1 5 4
158
N e w Y o r k A i r B r a k e ........
6 ,3 0 0 8 0 M a r 12 107
N o v lO
974100
100% 102
6 8 S ep 1 2 4 % J a n
N o r t h A m e r ic a n C o., n ew
17 A ug 42% J a n
39
43
O a c i l i c M a il......................... 1 5 ,9 2 5 24 F e b 27 55 N o v 11
4 0 4 44
1 0 4 4 1 0 7 4 106 1 0 8 % T e o p . G a s -L .& C. (C h ic .) 7 9 ,5 1 5 92 % M a r l 2 1 1 2 % D e c 2 87 % S ep 1 0 8 % F e b
22 % N o v 65 % J a n
34 4 3 8 4
37 4 3 8 4 P r e s s e d S t e e l C a r ................ 1 9 ,8 0 0 24 % M a y 16 4 4 % O c t 17
4 ,6 7 0 67 M a y l b 92
D e c 5 62 % N o v 95
F eb
87
88
D o p r e f ...........................
88 4 8 9 %
3 o 6 2U9 M a r 14 21 4 N ovoO 196 J ’ly 235% J a n
§2 3 7
237
*233
239
P u llm a n C o m p a n y ..............
N o v 17 1 6 S ep
37
F eb
30
31%
3 1 4 3 2 % a > a il w a y S te e l S p r i n g ... 1 4 ,^ 1 0 16 M ay l b 35
2,4(30 71% M a r l 6 9 4 D e c 5 67 N o v 90
F eb
9 0 4 9 2 % # 9 0 4 9 0 4 1 % 'D o p r e f ...........................
5% N ov 22% F eb
6 M ay 16 1 8 % N o v 2 S
14
15 4
14 4 15 4 R e p u b lic I r o n <& S t e e l . . . 1 8 .9 1 5
36% N o v 8 0 % F e b
65
6 7%
67
684
D o p r e f ........................... 3 2 ,5 00 37 M a y 13 73 % N o v 2 S
F eb
25% 27% R u b b e r G o o d s M f g .............. 4 0 ,2 1 9 14% A p r 15 29 -8 D e c 6 12 J ’ly 3 0
244 364
2 ,3 0 0 7 4 % J a n 15 9 8
D e c 2 60 J ’ly 8 4 % F e b
90
95
D o p r e f ...........................
9 3 4 96
8 ,1 0 0 3 1 % J a n 7 6 5 % N o v l l
72
F eb
2 2 % O ct
y J lo ss-S h e ih e ld S t. cfe Ir o n
57
594
59 4 60
500 77 J a n 5 1U5 D e c 3 67 N o v 9 7 % F e b
*102
106
O D o p r e l ...................
*3 4
4 4 S tan rtard R o p e < T w in e ..
% S ep
2 ,0 0 0
% M ar 4
5 N o v lb
6 H F eb
i
4
4
fe
6 1 4 70 4
6 7 4 7 1 4 T e n n . C oa l, I r o n & R R . . . 0 7 ,4 0 u 31 % M ay I d 7 7 % N ov 17 25 % N o v 6 8 % M a r
■____ _ * 3 4 4 36 T e x a s P a c ilic L a n d T r u s t
U 22 A u g 4 0 % J a n
600 25 M a y iO 39 % N o v L
70U
3 % A u g 19 13 % N o v 2 2
4 % J ’ ly 15 J a n
1 0 % 11
8
9%
1 j n io n B a g cfc P a p e r __
5 7% D ee 79% J a n
615 45
F e b 2 4 75 % N o v 2 5
74
74 '
7 4 % 7 4 % tJ D o p r e f ..........*...............
15
Feb
6 S ep
6 % M a y 16 2 0 % D e c 5
1 7 % 1 8 % U. S. C a st 1. P ip e <fc F o u n . 1 0 ,5 0 5
1 6 4 18
F eb
D o p r e l ........................... 1 4 ,2 7 0 40 M a r 2 4 bO% D e c 3 33 N o v 55
75% 77
76% 79%
15 100 F e b 24 § 1 - 8 N o v 18 95
A u g 150% F eb
§121
121
*115
125
U n ite d S ta te s E x p r e s s ...
15 Sj F e b
6 % M ay2 < 20% D e c 9
6 S ep
13% 19%
17% 20% U n ite d S ta te s L e a t h e r ___ 8 9 6 ,8 1 0
9 6% M ay
105
D o p r e f ........................... 107,426 7 5 % J a n 4 i0 6 % L e e 5 71 % O ct
9 8 4 1 0 4 4 r lO J
2 ,0 0 0 43 J ’ l y l o 84 % N o v 22
7 9 % 7 9 % U S R e a lt y A I m p r o v e ’ nt
30
32
7 J ’ ly 1 9 % F e b
‘2 7 % 3 0 %
U n ited S ta te s R u b b e r ___ 1 2 ,6 0 0 10 % F e b 6 3 4 % N o v _ 8
4 ,7 0 0 41 J a n 4 9 3 % D e c 5 3 o% J ’ ly 58 F e b
D o p r e f ...........................
9 1 % 93
89
90 4
33 % D e o 5 10 N ov 3 9 % F e b
8 % M a y l.
27
29% U n ite d S ta te s S t e e l............ 9 6 9 ,6 7 0
2 3 4 2930
D o p r e f ........................... 8 4 1 ,1 3 6 51% M a y lh 9 5 % D e c 3, 4 9% N o v 89% J a n
84
91.
8 7 % 91%
66 % F e b
38
40
40
4 1 4 V ir g in ia -C a r o lin a C iie in .. 2 4 ,7 7 5 22% J ’ n e29 44 % D e c 0 ! 17 % S ep
6 ,7 5 0 9 7 % A p r 16 116 N o v 2 9
80
A ug 128% F eb
D o p r e f ...........................
110
1 1 0 4 113 4 1 1 3 4
39 '0 F e b
3 ,5 1 0 18 % S ep 7 4 4 N o v 2 9
17 S ep
30
37%
38
3 8 4 V ir g in ia I r o n C o a l A C . .
§ 2 0 0 J ’ n e l 6 2 oO A u g 2 3 , §191 J ’Jy 2 4 9 % F e b
V \ / e lls, F a r g o A C o ........
*2 3 7
249
*2 4 0
249
O ct 17
Jan
3 ,1 3 3 8 5 M ay 19 93
8 0 *4 S ep 93
9 1 4 92%
9 2 4 92% y \ e s t ’ n U n io n T e l e ’ g p h
7 ,1 9 0 153 M ay 2 184% D e c 1 130 O ct 2 21 J a n
W e s t’ g lT s e E l& M i g a s s e n
176
1 7 8 4 1 7 9 4 ISO
D o 1 s t p r e f ...................
20 0 180 A u g 17 1 9 8 % N o v l S 1 6 0 S ep 22 4 J a u
190
190
* 188 1 9 6

B A N K S A N D TR U ST C O M P A N IE S— B R O K E R S’ QU O TA TI O N S
Banks
WaHli.H’litsU
W est Side^l..
Yorkvillelj ..

B id
200
500
490

A sk 1

B id

A sk

Mamilactrs'.
M echanics!) .
Merchants’ .
N ;i,ss:i 11
*
Nat City.......
North S id e ! .
Feoole’s ! .

BROOKLYN
B o r o u g h ^ ___ 120
300
B roadw ay!
B r o o k l y n ! .. i 40
C o n ’ y l& B B V 140
F i r s t ..........
-180

H anks
BR OO KLY N

135
145
100

345%
........
280
130
llo
375
290 310
225
290

17th W a r d !.
S p r a g u e ..
s i uy v e s a n t "
U n i o n ! ........'.
W a lla b o u t ! .

150
200
185
155
155

200
175

T ru s t C os.

B id

A sk •

T ru st C o’s

Farm Lo
Tr
N. Y. CITY
Fifth A v e Tr
Guaranty Tr
Bankers’ Tr. 375
Guardian 'IT
Bowi’ gGreen 220 224
Broad wayTv id >% 167 L Knick ’rb’ k’ r
Lincoln T r .. .
O’IR’tyB&Tr 660 680
Manhattan ..
Central T r’st 2150
Mercantile ..
City Trust
310
32 U
Merchants’ ..
C o f o n i a l ........ 320
330
Metropolitan
C o m m o n \v’ tli 55
60
Morton Trust
E a s te r n T r ..
E m p ir e . .
Mut. Alliance
220
N Y LifecfeTr
E q u it a b le T r 6 8 0

B id
1400
525
650
175
950
400
475
995

T r u s t C o ’s

A S ti
1

550
665
180
500
1010

210
625
890
9 10
205
215
1010 1060

X Y Sec & Tr
North Amer.
Real E st Tr't
StaudardTr’ t
TitleGu A Tr
Tr Co of A m .
( nion Trust
U S Mtg&Tr
Unit States .

B id
700
260
325

A sk I

160
4 50
1460 1500
V a n X ’ d e n T r 215
225
Washington. 415
W indsor ........ 190
200

B id

AS/c

BROOKLYN

265

595
510 525
1425

T ru st C o ’s

j
j

Brooklyn Tr
Flatbusli . . .
F ran k lin ___
Hamilton___
Kings C o ___
L 1st L & T r .
N assau .........
People’s .......
Wiliiamsb’ g.

100
200
325
315
410
290
250
t330
230

350
335
295
240

* P u l an d a s k e d p r ic e s ; n o s a le s o n th is d a y . § L e s s tn a n l o o s h a re s. x E x r ig h ts , c L x d iv id e n d a n d r ig h ts .
1 b a le a t S t o c k E x c h a n g e o r at a u c tio n th is w e e k , o E x s t o c k d iv id e n d , s T r u s t Co. c e r t ih c a t e s . * Barnes m a r k e d w ith a p a r a g r a p h ( ! ) a re S t a t e h a n k s
,)

N ew Y o rk Stock E xchange— Bond Becord, Friday, W eek ly and Y early
P rice
F rid a y
Dec 9
B id

Week’ s
R ange or
Last Sale

H ig h No Low H igh

A sk Low

U. S. G o v e rn m e n t
Q -J
Q-J
Q -F
Q -F
Q -F
Q -F
Q-J
XJ S 4s c o u p o n .....................7il90_ Q-J
U S 4s r e g is t e r e d ..................1925 Q- F
U S 4 s c o u p o n ....................... 1925 Q-F
Q-F
U S 2s
U S 2s
V S 3s
U S 3s
U S 3s
U S 3s

co n so l registered .c£1930
co n so l c o u p o n
d 1930
r e g is t e r e d ............. k 1918
c o u p o n ...................../c l918
r e g sm all b o n d s .. /c l 91
c o u sm a ll b o n d s ../c l 91

104% 1 0 4 58
104% 105%
104 4 1 0 5
104 4 1 0 5
1 0 4 4 .........
105% 105%
106% 106%
130% 1 3 1 4
131 1 3 1 4
109
.........

R ange
Since
January 1

1 0 5 4 A u g ’ 04
1 0 4 4 N ov ’ 04
1 0 4 4 A u g ’ 04
104% N o v ’ 04
H)7 J ’ n e ’ ()2
1 0 1 4 104 4
106% J ’ l y ’ 04
1 0 6 4 106%
131 % S e p ’ 04
131
131
111 O c t ’ 04

- - -t•
.
___
....
....
.. . .
2
.. . .
24
...
1
—

10441074
10441064
104% 1064
1044108
H) 4 4 i o ? %
1064 1084
1044108
131% 132%
130% 134
1104111%

F o r e ig n G o v e rn m e n t
F ra n k fo rt-o n -M ain 3 % s ser 1.

\J to o f M e x ic o s f g os or

S ta te S e c u r itie s
A la b a m a cla ss A 4 to 5 ----C lass B 5 s ............................
C lass C 4 s ............................
C u rre n cy fu n d in g 4 s ----D is t o f C olu m b ia 3*65s----L o u is ia n a n e w co n s o l 4 s ..
S m a ll.....................................
N orth. C a rolin a co n s o l 4 s.
6 s ............................................
S o C arolin a 4% s 2 0 -4 0 ........
T e n n n e w s e ttle m e n t 3 s ..
S m a ll.....................................
V ir g in ia fu n d d e b t 2 - 3 s ...
6s d e fe rre d B r o w n B r o s c tfs

M-S

. . . . t9 5 4 F e b ’ 02

1934

s on the b a s is oi /our m arks to 0 ne do lia r .

358 89
O ct
92 Sale
914
92
954
Sep
102 4 Sale 102 4
102% 121 9 8 4 1 0 3 4
UOO ......... * 9 7 % J ’l y ’ 04
Q-J
t9 7 4 1 0 0 4
$1 /lese a r e pr ices o n the b asis o / $5 to «£.
JJ
1 0 2 % .........
J - J 1 0 2 % .........
J -J *101 .........
J -J
F-A 120 121
J -J 1 0 5 % ..........
J -J
A -0
J -J
J -J
J -J
J -J

1024
1094
L02%
111
119%
1054
109 4
1 0 2 4 1 0 3 4 1034
1364
120
9 6 4 96% 9 6%
95
9 7 4 ......... 97%
9
74
9

1
1024
O ct ’ 00
M a r ’ 02
M a r ’ 02
O ct ’ 04 . . . .
2
1054
F e b ’ 99
3
1034
J ’ l y ’ 01
M a r’ OO
4
96 %
A u g ’ 04
97% 16
N o v ’04

102

102%

119% 119%
1024 1054
io i

i"0 3 4

954
95
914
64

97
95
964
9

R a ilr o a d
labam a C en t See So B y
ia b a M id i See A t C oa st I
A lb a n y & S u sq See D e l So 1

A

A lle g & W e s t See B
A n n A r b o r 1 st g 4 s ..
A t c li T & S i ’ e g e n g
R e g is t e r e d ................
A d ju s tm e n t g 4 s . . .
R e g is t e r e d ............
S ta m p ed .................

Q-J
A -O
A -O
N ov
N ov
M-N
F -A
F -A
S e rie s E
F-A
F -A
S e n e s K ...............
1911 F -A
S e rie s I ..................
FA
S eries K ................
MS
E a s t O k la D iv 1 s t ; ; 4 s ..
J -D
;
A ti K n o x So N o r 1st * 5 s.
M-S
A tla n tic C oast 1 st g
J -J
C h arles So S a v 1 st i
A-O
A-O
M-N
J -J
B ru n s So W 1 st g u g 4s ]
J -J
Sil Sp O ca & G gu g 4s ]
A t la n t ic So D a n v See S o u th R y
A t la n t ic So Y a d k See S ou tl
A u s tin So N W See S o u P a
J -J
a it So O h io p r io r 1 g 3 % s. ]
Q-J
R e g is te r e d ........ .........hi
A -O
G old 4 s ...............................hi
Q -J
R e g i s t e r e d ....................hi
C o n v d e b 4 s ....................... 1911 M-S
. P J u n & M D i v l s t g 3 % s l 9 2 5 M-N
P L E & W V a S y s r e f 4 s l9 4 1 M-N
J -J
A1925
R e g is te r e d
F-A
M-S
A -O
P itt s & W e s t 1 s t g 4 s . . . 1917 J -J
J P M So Co c e r t f s .................
B a t C re e k So S See M ic h C en t
B e e ch C reek See N Y C & H
B e lle v So C ar See Illin o is Cent
B k ly n So M o n ta u k See L o n g 1
B r u n s & W e s t See A t l C oa st L
B u ttalo N Y So E r ie See E r ie
B u ffa lo R So P g en g 5 s . . . 1937 M-S
A -O
A l l So W e s t l s t g 4 s g u . J
C l So M ali 1 st g u g 5 s ___ 1943 J -J
R o c h So P itts 1 st g 6 s .. .1 9 2 1 F-A
C o n so l 1st g 6 s ............. 1921 J -D
B u ffa lo So S o u th w e s t See E rie
B u ll So S u sq 1 st r e f g 4s. <£1951 J -J
B u r C edar R So N o 1 st 5 s . 1906 J-D
C on 1 st & c o l tr u s t g 5 s .. 1934 A-O
R e g is t e r e d ........................1934 A-O
C R I F & N W 1 s t g u 5 s . 1921 A -O
, M So S t L 1 s t g-u g 7 s ___ 1927 J-D
anada S o u th 1 st 5 s ........ 1908 J -J
2d 5 s .................................... 1913 M-S
R e g is te r e d ........................1913 M-S
C a rb So S h a w n See i l l C ent
C a rolin a C en t See S eab A ir L
C a rth a g e So A d See N Y U cfe H
C ed R l a F <fc N See B C R So N
Cen B ra n ch U P l s t g 4 s . . . 1948 J-D
C eil B ra n ch R y See M o P a c
Cen R R So B o f G a c o l g 5s 1937 M-N
C en t o f G a R R 1 st g 5 a ..£>1945 F -A
C on sol g o ld 5 s ....................1945 M-N
R e g is te r e d ....................... 1945 M-N
1 st p r e f in co m e g 5 s ___ p l9 4 5 O ct
2d p r e f in co m e g 5 s ___ p l9 4 5 O ct
3d p r e f in co m e g 5 s ___ p i 945 Oct

B

C

99
102%
101
944

Sale
98
994
Sale 102%
103
1 0 1 4 101 N o v ’ 04
Sale
94
94 4
82 4 J a n ’ 04
94 4 Sale
94%
94 4
1 0 0 % ......... 99 A u g ’ 04
99% O ct ’ 04
1 0 0 4 .........
9 9 4 .......... 9 9 4 N o v ’ 04
9 7 4 Sep ’ 04
9 8 % 100
9 8 4 .......... 9 8 4 N ov ’ 04
9 7 4 ......... 97 O c t ’ 04
9 7 4 98% 99 N o v ’04
111
......... 112 4 N o v ’ 04
99% Sale
99 4
99%
137 .........
1 2 7 4 .......... 125 % N o v ’ 03
1 1 3 % ......... 112% J a n ’ 04
113 115
1 1 4 4 O ct ’ 04
97 .......... 93 J ’ l y ’ 04
9 7 4 ......... 97% O c t ’ 04

9 6 4 Sale
i 0 3 % Sale
..........106
91
.........
9 9 4 S ale
93 4 Sale
.......... 9 2 4
1 0 7 4 ........1
108^111^4
1 1 9 % ..........
101 ..........

115%
]004
112
1244
124

..
..

96
96
102%
102
103
91%
98
934
904
105 4
108
1194
100
100

8
L66
....
20
....
86
....
....
....
....
.. .
....

....

158

9 6 4 35 92% 96%
N o v ’ 04 .... 9 2 4 96
10 3 % ob 1 0 0 4 1 0 3 %
N o v ’ 04 .... 100 103
103
5 97 103
D e c ’ 04 .... 8 7 4 92%
9 9 4 52 9 2 4 100 4
93% 80 8 7 4 94
J ’l y ’ 02
M a r ’ 04 ___ 1 0 5 4 1 0 5 4
S e p ’ 04 . . . . 108 109 4
M a r’ 04 .... 1 1 9 4 1 2 2
N o v ’ 04 ___ 98 100
S ep ’ 04
100 100

1 1 3 4 117%

103 A p r ’ 97
1 2 6 4 1 2 1 4 M a r ’ 04
.......... 123% A u g ’ 04 —

1214 1214
1214124

O ct ’ 04
101%
N o v ’ 04
M a r ’ 03
S e p ’ 04

97 4 1 0 0 %
25 101 103%
1154122

1 0 4 4 104% 104 4
104 4
10b 4 ......... 1 0 6 4
107
107 J ’l y ’ 04

10 1 0 2 4 106
13 101% 109
.... 105 107 4

9 3 % ..........

1164112 4

93 4 D e c ’ 04

90

110 N o v ’ 04
..........110
119 12 L4 120% O ct ’ 04
111 Sale 110 4
111% 61
107 J T ie’ 04
89
91 | 52
91 Sale
70
73
71 Sale
182
63
63
......... 61
1 til

S t r e e t R a ilw a y
A -O
J -J
J -J

M-N
F -A

F-A

J -J
J -D
J -J
A-O
J-J
J -J
J -J
J -D
J -J

F-A

J -D
M-S

107 108
85 Sale
1 0 9 % .........
1 0 5 % .........
110 Sale
92% S ait
8 8 % ..........
99

100

99
95

.......... 103

N o v ’ 04
J ’ n e ’ OO —

99%

BONDS
N. Y. STOCK E X C H A N G E
W

eek

E n d in g D e c 9

C en tra l o f G a —( Continued)
C hatt D iv p u r m o n g 4 s .1951
M a c So N o r D iv 1 st g 5 s .1946
M id G a So A t i D iv 5 s . . ..1 9 4 7
M o b ile D iv 1 st g 5 s ........1946
C ent o f N J g e n ’ i g o ld 5 s . 1987
R e g is t e r e d ....................7il987
A m Dock<fc Im p g u 5 s . .1921
L e & H u d R gen g u g 5s 1920
L eh & W ilk s B C oal 5 s . . 1912
Con e x t g u a r 4 % s ----- #1910
N Y So L o n g B r g e n g 4s 1941
C ent P a c ific See S o P a c ific Co
Chas & S a v See A t l C o a st L in e
d i e s So O h io g 6s se r A ../M 9 0 8
G o ld 6 s ................................ a l d l l
1 st c o n s o l g 5 s ....................1939
R e g is t e r e d ....................... 1939
G e n e ra l g o ld 4 % s .............. 1992
R e g is t e r e d ....................... 1992
C ra ig V a lle y 1 st g 5 s . . . . 1940
R So A D iv 1 s t c o n g 4 s . . 1989
2d c o n s o l g 4 s ..................1989
W a rm S p r V a l 1 st g 5 s ..1 9 4 1
G r e e n b r ie r R y 1 st g u g 4 s ’ 40
C h ic & A lt R R r e f g 3 s . . . 1949
R a ilw a y 1 s t lie n 3 % s . . .1 9 5 0
R e g is te r e d ....................... 1950
C h ic B So Q— C li <fc l a D 5s 190o
D e n v e r D i v 4 s ....................1922
Illin o is D iv 3 % s ................ 194J
R e g is t e r e d ....................... 1949
G o ld 4 s .............................. 1949
I o w a D iv sin k fu n d 5 s . . T919
Sin k in g fu n d 4 s .............. 1919
N e b r a s k a E x te n s io n 4 s . 1927
R e g is t e r e d ...... . ...............1927
S o u th w e s te f n D iv 4 s . ..-1 9 2 1
J o in t b o n d s See G re a t N o rth
D e b e n tu r e 5 s .....................
H a n So St J o s c o n s o l 6 s .. I b J l
C h ic So E 111 1 st s f c u r 6 s .1907
1 st c o n s o l g 6 s ....................1934
G e n e ra l c o n s o l 1 st 5 s -----1937
R e g is te r e d ....................... 1937
C h ic & I n d C R y 1 st 5 s . 1936
C h ica g o So E r ie See E r ie
C h ic I n So L o u is v r e f 6 s . . . 1947
R e fu n d in g g o ld 5 s ............1947
L o u is v N A & C h 1 st 6 s .1910
C lu e M il So S t P a u l c o u 7 s 1905
T e r m in a l g o ld 5 s .............. 1914
G e n e ra l g 4 s s e r ie s A ..e l 9 8 9
R e g is t e r e d ..................... e l9 8 9
G e n e r a lg 3 % s se rie s B .61989
C h ic & L S u D iv g 5 s ----- 1921
C h ic So M o R i v D iv 5 s . . . 1926
C h ic So P a c D iv 6 s ............1910
C h ic So P W 1 s t g 5 s ........1921
D a k So G t S o g 5 s .............. 1916
F a r So S ou a ssu g 6 s ........1924
H a s t So D D iv 1 s t 7 s ........1910
1 st 5 s ...................................1910
I So D E x t e n l s t 7 s ..........1908
L a C r o sse So D 1 st 5 s___ 1919
M in e r a l P o in t D iv 5 s ___ 1910
S o M in n D iv 1 st 6 s ..........1910
S o u th w e s t D iv 1 st 6 s -----1909
W is So M in n D iv g 5 s -----1921
M il So N o 1 st M L 6 s . ...1 9 1 0
1 st c o n s o l 6 s ....................1913
OhiCcfc N o r t h w c o n s 7 s ----- 1915
E x t e n s io n 4-s.......... 1 8 8 6-1926
R e g is t e r e d ............1 8 8 6 -1926
G e n e ra l g o ld 3 % s .............. 1987
R e g i s t e r e d ..................p i 987
S in k in g fu n d 6 s . ..1 8 7 9 -1 9 2 9
R e g is te r e d ............1 8 7 9 -1929
S in k in g fu n d 5 s . ..1 8 7 9 -1 9 2 9
R e g is te r e d ............1 8 7 9-1929
D e b e n tu r e 5 s ......................1909
R e g is t e r e d ....................... 1909
D e b e n tu r e 5 s ......................1921
R e g i s te r e d ....................... 19-21
S in k in g fu n d d e b 5 s ........ 1933
R e g is te r e d ........................1933
D e s M o & M i n i ) 1 st 7 s . .1 9 0 7
M i l w & M a d iso n 1 st 6 s .. 1905
N o r th Illin o is 1 st 5 s ___ 1910
O tt C F < St P a u l 1st 5s 1909
fc
W in o n a So S t P e t 2d 7 s .. 1907
M il L S & W e s t 1st. g 6s 1921
E x t So Im p s fu n d g 5s 1929
A sh la n d D iv 1 st g 6 s .. 1925
M ich D iv l s t g 6 s ..........1924
C o n v e r tib le d el) 5 s ___ 1907
I n c o m e s ........................... 1911
C h ic R o c k I s i So P a c 6 s . . . 1917
R e g is t e r e d ....................... 1917
G e n e ra l g o ld 4 s ..................1988
R e g is t e r e d ....................... 1988
C o ll tr u s t S e r ie s C 4 s . . 1905
H 4 s .................................... 1910
M 4 s .................................... 1915
N 4 s .................................... 1916
O 4 s ..................................... 1917
P 4 s .....................................1918
C h ic R I So P a c R R 4 s . . 2002
R e g is t e r e d ...................... 2002
C oll tr u s t g o ld 5 s ......... 1913
C h o c O k Sr G g e n g 5s _ o l9 1 9
C o n so l g o ld 5 s ................ 1952
D e s M So F t I) 1 st 2 % s ..1 9 0 5
E x t e n s io n 4 s .................. 1905
K e o k cfc D e s M 1 s t 5 s . . . . 1923

S tre e t R a ilw a y
M e t S t R y — ( C onjliet' g 4 s2 0 0 2
L e x A v So P F 1st g u g 5s 1993
T h ird A v e R It c o n g u 4 s 2 000
T h ird A v e R y 1 st g 5 s .. 1937
M et W S E l (C h ic) 1 st g 4 s . 1938
M il El R }r So L 3 0 -y r g 5s 1926
M in il S t R y 1st c o n g b s . . 1919
S i J o R y L t H & P 1st g 5 s . 1937
St P a u l C ity C ab co n g 5 s. 1937
U nderfirm ind F le e R y s o f L 011U n ion E l (C lu e) 1st g 5 s . .1 9 4 5
U n ited R R s San F r s 1 4 s . 1927
U n ited R y s S t L 1 st g 4 s . 1934
\V C h ic S t 4 0 -y r c o n s g 5 s . 1936

N o v '0 1

) 09 M a r ’ 98
......... 117% 117%
117%
118 119
i 18 N o v ’ Oi
120 120% 120
120

•No p rice Friday; latest p rice this week. a Due Jan

90

PAGES

10 112% 118%
112% L18
2 115% 120

d D uo A pr

PriceF rid a y
P ec 9
B id

W eek’ s
R ange or
L ast Sale

A sk Low

Range
Since
Jan u ary 1

£^
£ p

H igh No Low H ig h

93
96
J-I.)
94%.
J -J
108 4 ......... 104
J -J 1 0 8 4
102
110 ......... 107%
J -J
135% Sale 135%
J -J
Q-J * 1 3 3 % ......... 133%
J -J 113% 1 1 4 4 114
J - J 108 .........
M-N 103 ......... 103
Q-M 101% 102% L01%
M-S 104

N o v ’04 . . . . 9 2 % 94%
F e b ’ 04 ___ 104 104
J ’n e ’ 99
A u g ’ 04 . . . . 107% 107%
1 128 136%
135%
5 127% 133%
133%
3~ 111% 114
114

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

1064109
1 0 9 4 .........
118 1 1 8 4
1 1 4 4 .........
107 107%

1064
1114
118
117 4
107%
L03
112
102%
99
1064
954
84%
82%
83%
104%
101%
97
904
105%
109%
102
1054
105
100%

D e c ’ 04
J ’ l y ’ 04 . . . .
5
118%
O ct ’ 04 . . . .
107% 42
A p r ’ Oi
M a y’ 03
8
103
1
99
O ct ’ 02
S ep ’ 04 . . . .
84% 46
82% 148
A p r ’ 02
A p r ’ OU
1
101%
1
97
A p r ’ 04 —
A u g ’ 04 —
A p r ’ 04 . . . .
N o v ’ 04 . . . .
D e c ’ 04 . . . .
D e c ’ 03
F e b ’ 04

M-N
M-S
J -D
A -O
M-N
M-N
J -J

106
113
105

107
.........
106
1 3 2 4 .........
1 1 7 % 119
1 1 7 4 .........
1 1 9 % .........

108
112 4
108
129
1184
120
117

O ct ’ 04
O ct ’ 04
N o v ’ 04
A p r ’ 04
1184
D e c ’ 02
Sep ’ 04

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

1 3 2 % .........
115% 117
1 1 2 4 .........
176 184
1 1 1 % ..........
1 1 0 % .........

13 2% N o v ’ 04
1 1 6 4 N oy ’ 04
112%
112%
184 O ct ’04
111 O c t ’ 04
L10% N o v ’ 04
109 4 J ’n e ’ 04
97 4 O ct ’ 04
LI 6 4 A p r ’ 03
120
120
112% S ep ’ 04
117 4 N o v ’ 04
112% N o v ’ 04
137 L J T v ’ 99
116% O ct ’ 04
106 A u g ’ 04
169 M a i’ 04
113 A u g ’ 04
107% O ct ’ 04
112% 112%
111 S e p ’ 04
115% S e p ’ 04
112 S e p ’ 04
118% O ct ’ 04
1 3 0 4 O ct ’ 04
104% J ’ n e ’ 04
102% M ay’ 04
100 O ct ’ 04
103 N o v ’ 98
1 1 5 4 N o v ’ 04
1 1 1 4 D e c ’ 03
110 4
110%
107 M a r’ 04
103% N o v ’ 04
104 M a r ’ 04
110% O ct '04
108% J a n ’ 04
115%
115%
115% N o v ’ 04

i 1 3 4 .........
102% Sale
98 Sale
111 . . .
9 5 % .........
84% Sale
82 % sale
1 0 0 4 ..........
101% Salt
9 6 4 97%
107
.........
1 0 8 % .........
1 0 1 4 .........
10541064
99% ..

117% 1 1 7 ^
L 1 9 4 ..........
..........113%
......... 1 1 7 4
..........115%
1 3 2 % .........
* L17% ._
*1 0 7 % .
......
115 4 . .
*107% . . . .
*112
110 113
1 1 6 % ..........
no
111
115 4
128% . .
104 4 1 0 6 4
102
99

110

........

103%
1 0 2 4 ..
1 0 8 4 ..........
109
115% . .
*115%
106% .
105
1 0 5 % .........
1084
128% Sale
120
1314
133%
1 0 1 % ..........
104
1 2 5 % . ..
1 2 3 % .........
106 1 0 6 4
100%
96 4
944
944
94
94
80%

.
.........
..
..
.........
.........
S ale

94% Sale
107
1 0 5 4 .........
100
.........
99 .........
1 0 8 4 _____

N o v ’ 04 .... 102
D e c ’ 04 . . . - 100

104 4 N o v ’ 04
105 4 M a y ’ 04
105% N o v ’ 03
109% J ’ n e'0 4
128
128%
119% N o v ’ 04
142 4 F e b ’ 02
133 N o v ’ 04
103 A p r ’ 04
109 S ep ’ 03
124% N o v ’ 04
124 N o v ’ 04
105%
106%
107 J a n ’ 03
101% S ep ’ 04
97 J ’ l y ’ 04
96 M a y’ 04
93 M a y’ 04
94
94
90 M a y’ 04
79%
82
76% S ep ’ 04
93 %
94%
105 O ct ’ 04
103% J a n ’ 04
95 S ep ’ 04
98 J a n ’ 04
106% J Tv ’ 04

104%
104

106% 109%
io 9 % m %
114% 120%
113 118
100% 108%
99% 103
94% 99
95%
81%
74%

95%
85%
82%

99
91
90%
105
109%
100%
103%

102
97
91%
105%
109%
102%
107

4 no

100%

....
....
....
1

105
112%
105%
129
114%

108 >
4
115
108 ^
129
120

—

112% I l 7

--*
....
5
....
....
—

126%
lll%
108
169
109
107%
109%
. . . . 97%

132%
116%
112%
181
H I
110%
109%
98%

1
—
—
___

115%
109%
114%
109%

2.20
112%
117%
112%

___
___
....
—
___
11
....
....
....

116% 118 %
106 106
169 169
L12% 113
106 107%
110% 112%
109% 112
114 116%
110% 112
114% 118%
127% 130%
102% 105
102% 102%
9 6 % 100%

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

« ••• 1 1 1 % i i s
2 108% 110%
. . . . 106 107
. . . . 103% 108
.... 104 104%
. . . . 107% 110%
. . . . 10S% 108%
1 115% 118
. . . . 114% 116
. . . . 104% 1 0 4 %
« . •• LU5 % 105%

....

. . . . 109 % 112 %
2 .126% 129%
. . •• 117% 119%
131% 133
. . . . 103 103
121% 130
•« •• 120 124
51 101 1 0 6 %
101% 101%
97
97
96
96
93
93
94
94
90
90
66% 82%
70% 76%
73
96%
104% 105
103% 103 %
95
95
93% 98
104 % 106%

___
___
4
.. .
iois

...

609

___
—

B O N D S —C on tin u ed on N ext f a jt e .

. 1
3 99% ICS
108
108
83 %
85
247 72 % 85%
1 0 9 % N o v 04
107% U O
105 l4 N o v ’ Ol
100 106
109% 110% 43 100 111
92
92% 24 S2
93
88
8 9% 20 79 % 90

106%
io o

96

106% 112 4
1164120%
103% 114
1054107
65% 93
28
74 %
18
654

1 1 8 (jE h L A N ii()lJ 8
H
B r o o k ly n R a p T r g 5 s ........1945
1 s t r e fu n d c o n v g 4 s ___ 2 0 0 2
B k C ity 1 st co n 5 s. 1916, 1941
B k Q C o So 8 cou g u g 5 s. 1941
B k ly n U n E l 1st g 4 -5 S .1 9 5 0
K in g s Co E l 1 st g 4 s ___ 1949
j N a ss a u E le c g u g 4 s ___ 1951
C ity So 8 R y B a lt l s t g 5 s. 1922
C on n R y tfe L l s t & rel g 4 % s ’ 51
lie n C on T r C o 1 st g 5 s . . . 1933
D e n T ra m C o co n g 6 s ..1 9 1 0
M e t R y Co 1 st g u g 6 s .. 1911
B e t C it S t R y 1st con g o s . 1905
G r R a p id s R y 1 st g o s . . . a l 9 1 6
L o u is R y C o 1 st con g 5 s .. 1930
M e t S t R y g e n co l tr g 5 s. 1997
B w a y So 7th A v 1 st c g 5s 1943
Col<fc 9tli A v l s t g u g 58 .1 9 9 3

99 %
104
103%
98
824
954
100
99%
99 4
974
984
97
994
1124
10 0 %

___ 11 2 % 11 2 %
- - • 109 1 1 4 4
.
. • - 93
•
93
—
97% 98

115% D e c ’ 04

9 7 ......... 9 9 4
l o i 4 ..
1014
11‘J V2,0h 120 4
120 4
1.12 4 ......... 1 1 2 4

91%
9 8%
99
874
824
874
98
99%
98%
974
984
96%
92 4
112
91

FOUR

In t’st
Period

l
RONDS
S I
N . Y. STOCK E X C H A N G E
«
-a
^%
W e e k E n d in g D e c 9

Bonds
Sold

O C C U P Y IN G

!

A-O
M-S
J -J
J -J
F-A
F- \
J -J
M-N
J-J
J -D
A -O
A-O
J -J
.M-N

91%
92
51
Sale
......... 115% S ep ’ 04
97%
98
33
Sale
120% 117% O ct ’ 04
94 J ’ n c ’ 04
96
1 06 O ct ’ 99
1 0 6 % ......... 106% N o v ’0-1 ; ; ; ;
92
118
98
118%
.........

110
*97

98

87 % Sale

J Ty ’ 04

89
92%
114
117%
| 93% 99%
116 121
94
95
106 % 106 %
110

97 %
97% 41
109 % D e c ’ 99
87 %
87 % 1 11
87%
5
87%
99 D e c ’ 97

99%

110
93%

75 %
79% 88 %

G a s a n d E l e c t r i c L ig h t
A tla n ta G L Co 1 st g 5 s . .. 1947 J -D

e Due .May y Due .Rue

A Due J ’ly

ic Due A ug

o Due Oct

p Due N o r

sOn-tion dal*

N. Y. S T O C K E X C H A N G E
W r s k E nding D ro 9

T
3
* 2
^ v.

Hid
C h ic A S t L See A tc h T A Sa K
C lu o 8 1 L A N O See 111 C ent
C h ic 8t L A P itta A>* P e n iiC
C h ic S t 1’ M A O con 68... 1931 > J-D
i J -D
C«*n8 Os reiluce<I to 3
1
Ch S t P A M inu Istg O a
M-N
N o r W iscon sin 1st (5s...l93< • J-.J
S t P & S C ity 1st g 6 s . . . 1911 • A O
C h ica g o T e r T ra n s g 4 s . . . 1 9 4 ' .r- j
Q'M
C h oc O A G u lf See C H I A P
Cln H A D con sol 8 f 7 8 ... 190. > A O
2(1 gold 4 % s........................1 9 3 ‘ J J
Cin D A I 1st ffu g 5 s . ..1 9 4 M-N
( ’ in I A W 1st g u g 4 9 .1 9 5 : j - j
C I S t L A C See C C C A S t I
Cin S A C See C C C S t L
C learfield A M ali See B R A I
J-D
J -J
C airo D iv 1st
j -J
M-N
M-N
M-S
J -J
M-N
Q-P
Q-F

Week's
Range or
Lant Saie

PrU e
fY id a y
Pec 9

A tk ! Low

132% 134
92 **.........
1 3 1 *9 .........
133 .........
1 2 3 *4 .........
84% Sale
112 .........

8 I 30 % 136%
133
134%
93 D e c ’03
132% N o v ’04
130*4 132%
129% M a r’ 04 . . . . 1 2 9 % 1 2 9 %
123 % N o v ’ 04
120 123%
84%
85
17 72 % 35%
28 n o
113
113
113

101% Sale 100%
101% 49 95 %
99%
1 9 0 % ......... 100 J ’ l y ’ 04
99 % ......... 9 8 % J ’l y ’ 04
98
1 0 2 * 2 ......... 101% S ep ’ 04 81) 9934
100 O c t ’ 04 . . . . 99
97 ......... 102 D e c ’ 02
1 0 0 % ......... 9 4 % A u g ’ 03
......... 105 Jan ’ 04
105
105
100% 103
100 N o v ’ 04 . . . . 100

vs
A
,

I-Yice
AYiday
P ec 9
Bid.

Week's
Range or
J.asi Sale

Atkljsoto

116

S e p ’04

__

L28

130

104% N o v ’ 01
99 %
99%
i 95 100%
72
74% 63 58
7434
112% F e b ’ 04 . . . . 112% 112%

......... 116

F e b ’ 04 —

116

116

D

101% Sale 101% 102%
104*4 J ’ l y ’ 04
......... 108
......... 108% 107% N o v ’ 04
99 % 99% 9 9%
99%
8 9 D e c ’ 04
.......... 89
91 . . . . . . 97 J a n ’ 02

110
97 ......... 100
9 3 % ......... 9 5%
67% 72
68
86
89
90
114 118 117

40

96%
104*4
103
10 94
.. . 83

....

Sep '0 4
N o v ’ 04
70
D e c ’ 04
N o v ’ 04

102%
104%
109
101
91

99% n o

Sep ’ 04

9 8 100
9 2% 9 5%
70
30 37
66 % 90
109% 117

i l O % ......... 113% D e c ’ 04 . . . . 111

113%

1 1 5 % ......... 117% O ct ’04 . . . . 113

117%

107 .........
1 1 4 % .........
109% 110%
1 1 4 % .........
1 0 0 % ..........
135
.........
1 3 2 % .........
1 0 1 % Sale
92

Sale

9 4% Sale
95% Sale
124% 128
1 0 4 % .........
120% 12 1 %
1 0 4 % .........
1 3 3 % ..........
118 .........
1 1 3 % .........
114 .........
1 1 5 % .........
1 0 2 % 104
108 109
1 1 6 * 4 .........

114 J ’ n e’ 04
114 114
113% J ’ i y ’ 04
11 2 % 1 1 3 %
109% S ep ’ 04
108*4 111
111 M ay’ 04
111 114%
103% Sep ’ 04
103% 103%
135 N o v ’ 04
131 % 135 %
130 A u g ’ 03
101% 101% 30 9 6% 102 *4
98 % J a n ’ 04
9 8% 98%
91%
92% 316 8 4
92%
88 N o v ’ 04
85% 88
9 4%
95
74 8 8 34 95%
9 5%
96 513 9 5 % 96
1 2 7 % N o v ’ 04
125% 127%
122
103
132
113
113%
108%
115%
103
109
117

N o v ’ 04
O ct ’ 04
A p r ’ 04
J ’l y ’ 04
N o v ’ 03
J a n ’ 04
N o v ’ 04
D e c ’ 04
D e c ’ 04
O c t ’ 04

116
103
130
113%

123
103
132
118%

108%
109%
98
101%
113%

1 0 9 % ......... 108% O c t ’ 04
1 0 9 % ......... 112% N o v ’ 04 —

108%
116%
103
109
117

108% 111%
106% 112%

M IS C E L L A N E O U S

A-O
A-O
A-O
J -J

106
112
101
JU8

Range
Since
"S A January 1
.

High S o
Nov’04
Oct ’04 J’ne’02
O c t’04
Dec’04

lAfW Hty/i
116 123
liOl 307%
1104
jl07

104
108

l^ a rg o A S o See Ch M A 8 t P
I lin tA P e r e M
See P ore M a/
Fla C A P en in see 8 ea A ir L in e
105 Mar’9fe
F o rt 8 t U 1) Co l e t g 4 % s .1941 J-J
F t W A D en O 1st g 6 s ___ 1921 J-D .........108*4 108% 108% i i 1102% 111%
86% Sale
86%
86%
4 71
F t W A R io G r 1st g 4 s . . .1 9 2 8 J-J
86%
/ i al H ar A 8 A See So P a c Co
1 0 3 % ......... 103% Dec’04
' T al H A H o f 1882 1 st 5 s. 1913 A -0
101% 104%
G eorg ia A A la See S ea A L in e
G a Car A N o r See Sea A L in e
G eorg ia P a citlc See S o Ky
G ila V G A N o r See So P a c Co
G o u v A O sw e g a t See N Y C em
G ran d R ap A In d See P en n UK
G ra y ’ s P t T erm See S t L S W
99% 100% n s 90% 101 %
G t N o r —C B A Q co ll tr 4s 1921 J-J 100 Sale
2 90
99
99
R e g is te r e d , h ..................... 1921 Q-J ...................
100
G re e n b rie r R y See C hes A O
G u lf A S I 1st re f A t g 5s 51952 J-J
105% Nov’04 . . . . 102 103
an A S t J o See C B A Q
o n sa to n ic See N Y N H & H
111% 111
H o ck V al 1 at c o n so l g 4 % 8 .1999 J-J I l l
111
4 103% 111%
lu5% J’l y ’04
R e g is te r e d ...........................1999 J-J
il05% 107%
100% A pr’04 — i 0 0 % 1 0 0 %
C ol A H V 1st e x t g 4 s . .1 9 4 8 A-O
H o u st E A W T e x See S o P ac
H o u stA T e x C e n 5 eeS oP acC o
V llin o is C en tra l I s t g 4 s .. 1951 J-J 112 ......... 113 Nov’04
113 115
113% Mar’Oo
1 R e g is te r e d ....................... 1951 J-J
1st g old 3*28 ....................... 1951 J-J 1 0 0 % ........ 102 “ Aug'04 __ 101*4 102
94 Mar’(J3
R e g is te r e d ....................... 1951 J-J
E x te n d e d 1 st g 3 4 s ........1951 A -0 1 0 0 % ......... 99*4 Oct ’03
70 Oct ’04
1st g old 3 s s t e r lin g ......... 1951 M-S
70
70
0
C oll T r u s t g o ld 4 s ........... 1952 A-0 i ’ 3 % ......... 10334 Nov’04 . . . . 102% 106
102 Oct ’01
R e g is te r e d ....................... 1952 A-0
L N O A T e x g o l d t i . ...1 9 5 3 M-N 103% 105% 104 Nov’04
102 106
101 A p r’04 . . . . 101 l o l
R e g is te r e d ....................... 1953 M-N
C airo B rid g e g old 4 s ___ 1950 J D 103*4......... 106% Mar’Uo
96 % Sale
3
96%
96%
L o u is v ille D iv gold 3 % 8.1953 J-J
93% 96%
M id d le D i v r e g 5 s ........... 1921 F-A 108 ......... 123 May’99
86 ......... 86*4 N ov’04 •••• 843* 86%
Om aha D iv 1 st g 3 s ........1951 F-A
81*4 85
85 Nov’04 . . . . 80
S t L o u is D iv g o ld 3 s ___ 1951 J-J
85%
R e g is te r e d ....................... 1951 J-J
95 .......
G old 3 % s...........................1951 J-J
94% Aug U4 __ 93
95
101 % Oct ’99
R e g is te r e d ................... 1951 J-J
94 ......... 100 Xov’U
U
S p r in g D iv 1 st g 3 % s ...l9 5 1 J-J
W e ste rn L in e s 1 st g 4 s .. 1951 F-A 106% ....... 105:% Nov’04 __ 105% 107%
B e lle v A C ar 1st 6 s ........1923 J-D 121*4......... 124% A p r’04 .... 124 % 124%
C arb A Sliaw 1 st g 4 s . . . 1932 M-S .........114
90 Nov’98
C h ic S t L A N O g 5 s . . .1951 J-D 125*4......... 119 Nov’03
R e g is te r e d ....................... 1951 J-D 122 ......... 119% Mar’04
i i s 11934
95 ......... 93% May’04 . . . . 87
G o ld 3 ^ 8 ...........................1951 J-D
98%
R e g is te r e d ................... 1951 J-D
M em pli D iv 1 st g 4 s . . . 1951 J-D 104*4........ 104% Sep ’04
102% 104%
St L S on 1 st g u g 4 s ___ 1931 M-S 1 0 2 % ......... 103 Nov’ 04 . . . . 102% 103
In d B 1 A W e s t See C C C A S t L
106 Mar’04
In d D e c A W 1 st g 5 s .r ...1 9 3 5 J-J 110 111
106 108
1 st g u a r g o ld 5 s ..................1935 J-J 109*4......... 107% D ec’02
9 9 % ......... 99% Oct ’04
In d 111 A l a 1 st g 4 s ......... 1950 J-J
98 101
4 120
1 6 118% 122
I n t A G reat N o r 1st g 6 s .. 1919 M-N 1 1 9 % ......... U 9 3
2d g o ld 5 s ............................ 1909 M-S 100% Sale 100% 100% 53 97 100%
3d g old 4 s .............................1921 M-S * 7 1 % ......... 71
71% 1 2 68
72
113 D ec’04
I o w a C en tra l 1 st g o ld 5 s .. 1938 J-D 113 114
109 % 114%
87 Sale
R e fu n d in g g 4 s ................. 1951 M-S
87
87
i 85
89
J e fie rso n R R See E rie
al A A G R See L S A M S
an A M ic h See T o l A O C
K C F t S A M See St L A S F
K C A M RA B
See S t L A S F
K a n C A P a c ific See M K A T
72%
73% 3 5 68
K a n C ity S ou 1st gold 3 s .. 1950 A -0
72% Sale
73%
R e g is te r e d ...........................1950 A -0
63 Oct ’ 0 0
K e n tu c k y C en t See L A N
K e o k A D e s M o See C R I A P
K n o x v ille A Ohio See So R y
ak e E rie A W 1 st g 5 s. .19 3 7 J-J 1 1 9 % ....... . 120% Nov’04
115% 120%
2d g old 5 s .........................1941 J-J 114 ......... 11 2 34 Nov’04 .... 110% 114%
N o r th O h io 1st g u g 5 s .. 1945 A-O 116*4 118
116% Nov’04 . . . . n o 1 1 6 %
L Sho A M ich S See N Y Cent
L e h ig h V al (P a ) c o ll g 5 s. 1997 M-N 1 0 7 % ......... 107% Nov’04
107 107%
L eh V a l N Y 1st g u g 4 % s .l9 4 0 J-J 11034 ......... 110% Nov’04 - •. • 104% 110%
R e g is te r e d ..........................1940 J-J 1 0 3 % ......... 105 Jan’04
105 105
L eh V T e r R y 1 st g u g 5 s. 1941 A-O 118*4......... 116% N ov’04
116 116%
R e g is te r e d ...........................1941 A-O 112 ......... 109% Oct ’99
Leh V Coal Co 1 st g u g 5 s. 1933 J-J 1 1 2 % ......... 111 S ep ’04
107 111
L eh A N Y 1st g u a r g 4 s . . 1945 M-S ......... 98% 99 Aug’04 __
92
99
R e g is te r e d ...........................1945 M-S
E l C A N 1st g 1st p f 6 8.1914 A -0 i 0 7 % .........
G old gu a r 5 s....................1914 A -0 10534 ......... 106% Nov’04 — 100% 106%
Leh A H u d R See C e n t o f N J
L eh A W ilk e s b See C e n t o f N J
L e r o y A C an ey V a l See M o P
L o n g D o c k See E rie
L o n g I s l ’d —1 st co n g 5 s ./il9 3 1 Q-J 1 1 6 % ......... 116% Oct ’04
116 118
1 st co n so l g o ld 4 s ........../il9 3 1 Q-J 1 0 0
.........
G en era l g o ld 4 s ..................1938 J-D ......... 1 0 2
103 Nov’04
98 103
F e rry g o ld 4 ^ 8 ..................1922 M-S 1 0 2
......... 100 Oct ’ 04
100
101%
9 6 % ........ 99 % Oct ’04
G o ld 4 s .................................. 1932 J-D
99% 99%
U n ifie d g old 4 s ..................1949 M-S ♦1 0 2 % ......... 10 2 *4
102%
3
96% 102%
D e b e n tu re c o ld 5 s ........... 1934 J-D 1 1 2
......... 110 J’ne’04
no
no
G u a r r e f g o ld 4 s ................ 1949 M-S 1 0 1 % ........ 1 0 2
102%
4 100% 103
B k ly n A M o n t 1 st g 6 s .. 1911 M-S 1 0 7 % .........
1st 68.................................. 1911 M-S 105 ......... 105% Mar’03
N Y B A M B 1st c o n g 5s 1935 A -O 114 115% 112 Mar’02
N Y A R B 1st g o s ........1927 M-S 1 0 8 % ......... 107% Sep ’04
107% 107%
N o r S h B 1 st co n g g u 5 s o l9 3 2 Q-J 1 0 9 % ......... 109 Nov’04
109 109
L o u isia n a A A r k 1 st g o s . 1927 M S * 1 0 3 % ........ 103% 103% 1 6 100% 104%
L o u is v A N a sh v g e n g 6s. 1930 J-D 118% 119 % 122 Nov’04
115% 122
G old 5 s ..................................1937 M-N 116 ......... 116
116
3 114 % 116
U n ified g o ld 4 s ..................1940 J -J
103 103% 103
103% 9 7 98 103%
R e g is te r e d ....................... 1940 J -J
101% 101%
101% J’ne’04
C oll tr u st g old 58.............. 1931 M-N 114 ......... 112% Nov’04
1U9 116%
5 -2 0 -yr c o l tr d e e d g 4 8 .1 9 2 3 A- 0
98 Sale
98
98% 78 96% 99%
E H A N a sh 1 st g 6 s . . ..1 9 1 9 J -D 113 ......... 11534 Nov'04 — 111 % 115%

K

L

B O N O S—C on tin u ed on ^ e x t P a g e .

G a s a n d E l e c t r i c L ig h t
G a s a n d E l e c t r i c L ig h t
B k ly n U G as 1st co n g 5 s .1945 M-N 1 1 5 % ......... 116 N o v ’ 04
112% 117% L a o G as L o f S t L 1st g 5 s .e l9 1 9
B u llalo G as 1st g 5 s ........... 1947 A -O
60 ......... 69 N o v ’ 04
54
70% M ilw a u k e e G as L 1st 4 s .. 1927
C onsol G as c o n v d e b 6 s ___1909 J -J 182 Sale 18 2 % 186 252 171% 192% M u t F u e l G as Co See P e o p G as
C o n s u m G a s See P G A C Co
N Y G E L H A P g 5 S ...1 9 4 8
D e tro it C ity G as g 6 s ..........1923 J -J 100 ......... 10 0 % 101
P u rch a se m o n e y g 4 s . . . 1949
16 95% 101
E d E l III 1st co n v g o s .. 1910
D e t G as Co con 1 st g 5 s . ..1 9 1 8 F-A * 1 0 2 % ......... 105 J ’ n e ’ 03
E d E l 111 B k n See K C o E L A P
1st c o n so l g o ld o s ......... 1995
E d E 111 See N Y G A E L H A P
NYTAQE1 L A P 1st c o n g 5 s l 9 3 0
E q G L N Y 1 st co n g o s . .1 9 3 2 M-S 113 ......... 112 N o v ’ 03
N Y A R ic h G as 1 st g o s . 1921
E q G A F u e l See P G A C Co
P e o G as A C 2d g u g 6 s .. 1904
G as A E lec B e rg Co c g 5 s. 1949 J-D
1st co n gold 6 s ................... 1943
6 1% O ct ’ 01
G en E le ctrio d eb g 3 % s ..l 9 4 2 F -A .......... 91
R e fu n d in g g old o s ........... 1947
91 % N o v ’ 04 . . . . 88
91%
G r R ap G L C o 1 st g 6 s . ..1 9 1 5 F-A
1 0 7 y4 D e c ’ 00
C h G -L A C ke l s t g u g 5 s 1937
H u d so n Co G as 1 st g 5 s . . 1949 M N 1 0 7 % ......... 107%
C on G Co o f Ch 1 st gu g o s . ’ 36
107%
2 103% 109
K an C ity (M o ) G as 1 st g 5e 1922 A -0
E q G A F Ch 1 st g u g 6 8 .1 9 0 5
100 O ct ’ 04 — 100 100
K in g s C o E l L A P g 6 s . . .1 9 3 7 A -O 108 .........
M u F u e l G as 1 st g u g 5 s. 1947
P u rch a se m o n e y 6 s ..........1997 A-O ......... 125
122% A u g ’04
117 % 12 2 % S y ra cu s e L ig h tin g 1st g o s . ’ 51
Ed E l II B k n 1st co n g 4s 1 9 3 9 1J -J
96 ......... 96% O ct ’01
9 3% 96% T r e n to n G A E l 1st g 5 s .. 1949

* N o price Friday; latest bid and asked this week. a D u e J a n

1 0 6 % ......
106 .........
105 .........
no
.........

LXX-1X.

H

105
103

110% 116%
i 123 126

115% J ’ n e ’ 04
123
123
130

103%
10 1 %
98%
103
100

73% Sale
72%
75 300 56
75
J -J
293 82
4
88%
90
C olorado A Sou 1st g 4 s . . . 192$ F A * 8 9 3 Saie
90
Coluro A G re e n y See S o R y
C ol A H o c k V a l See H o c k V a
Col C on n A T e rm See N A W
Conn A P as R iv e l e t g 48.194c A-O
ak A G t So See C M A S t I
alias A W a co See M K A r
l
D el L a ck A W e s te r n 7 s . . .1 9 0 7
109 % 112%
M-S 1 0 9 % ......... 109% O ct ’ 04
M-N 1 2 7 % ......... 128% N o v ’ 04 .... 127% 130
J-D 129 ......... 130% A u g ’ 04 .... 1 2 8 % 1 3 3
140 O ct ’ 98
J -D
1 st r e f g u g 3 %s.
J -D
J -J 130*4 132 % 129% A n g ’ 04 . . . 127 129%
F-A 1 1 3 % ......... 114% J ’ l y ’ 04 __ 111*4 115%
M-N 103 ......... 102 % N o v ’ 04 .... 100*4 105%
108*4 109%
A -O 1 0 6 % ......... 108*4 J ’l y ’ 04
102 F e b ’ 03
F -A
Del A H u d 1 st P a D iv 7 s .1917 M-S 1 3 7 % ......... 133% M a r’ 04
133% 137*4
149 A u g ’ 01
M-S
104*4 108
A -0 1U4 ......... 104*4 D e c ’ 04
A -0 1 0 3 % ......... 103% N o v ’ 04 __ 103% 106
R e n s A S aratoga 1 st 7a. 1921 M-N 141 ......... 146% O ct ’ 04 — 142 146%
J -J
J-J
J-D
J -J
C on sol and col tru s t 4s 1949 A -0
U tah C ent l s t g u g 4 s a l9 1 7 A -0
R io G r S o g n See R io G r So
D es M o i A F t D See C R A I P
D es M A M in n See Cli < N W
fc
D es M oi U n R y 1 st g 5 s ..1917 M-N
D e t M A T o l See L S A M So
D et A M a ck 1 st lien g 4 s .1995 J-D
G old 4 s ..................................1995 J-D
D et S ou 1 st g 4 s ..................1951 J -D
O h io S ou D iv 1 st g 4 s . . . 1941 M-S
D u l A Iro n R a n g e 1 st 5 s .. 1937 A -O
R e g is te r e d ...........................1937 A -O
2d 6 s......................................191(3 J -J
D u l So S h ore A A t l g 5 s .. 1937 J -J
l ? a s t of M in n See S t P M A M
JLJast T e n V a A G a See S o Ry
E lg in J o l A E a st 1 st g 5 s .1941 M-N
E lm C o r t A .N o & 6 e L e h A N Y
E rie 1st e x t g o ld 4 s .............. 1947 M-N
2d e x t g o ld 5 s ..................... 1919 M-S
M-S
4th e x t g o ld 5s...................1920 A -O
J-D
1st co n so l g old 7 s ............. 1920 M-S
M-S
J -J
R e g is te r e d ....................... 1990 J -J
i s t co n so l g en lien g 4 s . . 1990 J -J
R e g is te r e d ....................... 1990 J -J
P en n co ll tr g 4 s .............. 1951 F-A
6 0 -y ea r c o n v 4 s A ......... 1953 A-O
Burt N Y A E r ie 1 st 7 s .. 1910 J-D
B u ll A S W g old 6 s ..........1908 J -J
C h ic A E rie 1 st g o ld 5 s .. 1982 M-N
Jefr R R 1 st g u g 5 s ___ a l9 0 9 A -O
L o n g D o c k co n s o l g 6 s .. 1935 A -O
Coal A R R 1 st ettr g u 68 .1 9 2 2 M-N
D o ck A Im p 1 st c u r 6 s ..1 9 1 3 J -J
N Y A G reen L g u g 5 s. 1946 M-N
N Y Sue A W 1st r e f 5 s . 1937 J -J
2d g old 4 % s ..................... 1937 F-A
G en era l g o ld 6 s .............. 1940 F -A
T e rm in a l 1 st g o ld 5 s . . . 1943 M-N
R e g is §5 ,0 0 0 e a c h ...1 9 4 $ M-N
M i d R R o f N J I s t g 6 s . l 9 1 0 A -0
W iik A E a 1 st g u g 5 s . 1942 J -D
E rie A P itts See P e n n Co

BOSDlS
N. Y. STOCK E X C H A N G E
W eek E nding D ec 9

High So Low lixgh

100 ......... 104 % D e c ’ 03
100 ......... 113 O c t ’00
114*tz......... 11 3% J ’l y ’ 04 .... 111*4 113*4
99 ......... 99 N o v ’ 04 —
97
99%

113*12.........
J-D 1 2 2 * 4 .........
J -D
J -J i ’3 3 .........
J -J
9 8 * 9 .........
A -0
99 .........
Q-J
A -0 ......... 100
73*2
A p r * 73
A-O 1 1 5 * 4 .........
J -J

Range
Since
January 1

[ V OL.

2

E v a n 8 A T II 1st c o n s Gs.1921 J-Jl 123*4......... 123

J-J

C ley A M arietta See P e n n
C lev A M ah on V a l g 5 s . . .1
CI cy A P itts See P en n Co

Sold

BONUS

: Bonds

Bond Record—Continued— Page

2630

Q -F
M-N

108% Sale 108% 108%
90 ......... 90% J ’ l y ’ 04

J -D
F-A
M-S
J -J
F -A
M-N
J -D

110% Sale
96 Sale
104% 105
1 1 9 % .........
1 0 7 % .........

A -0

125 .........
106 .........
109% n o
106 107%
1 0 2 % .......
102 .........
97% ..
1 0 5 % ......... 109

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

110%
95%
104%
120%
107%
100
]0 1 %
125
104%
109
107
103
102%

111
96%
104%
J ’ n e’ 04
107%
M a r’04
A u g ’ 04
N o v '0 4
N o v ’ 04
N o v ’ 04
D e c ’ 04
103
N o v ’ 04

—

10 105 110%
8 7 % 90%

8 105% 113%
38 90
96%
6 102% n o
115% 120%
1 100% 107%
100 100
101 103
11S% 128
__ 103 104%
106% 109%
104 108%
1 101 103
101% 105
—

F e b ’ 01

b Due Feb 4 D u e A pr £ D ue May A D u e j ’ly g D u e A u g o D ue Oct g D u e D ec s Option

W eek E n d i n g D eo 9
L ou isv tfe N a sliv —(Com
L Cin & L e x g o ld 4 4 s .
N O & M 1 st g o ld 6 s.
N O & M 2d g old 6 s ..

N F la & S 1 st g u g 5s.
P e n s & A t l 1 s t g u g 6s
S & N A la c o n g u g 5s
L N A & Cli See C I & L
ahon C oal See L S & M S

Mi

B id

)

L M-N
J J -J
1 J -J
J 5V1-S
L M-S
) M-S
L M-S
7 J -J
> M-S
2 J -J
1 F -A
- F -A
5 F -A
) A -0
] M-S

1 0 8 * 4 .........
100 Sale
107*4 109
96
97
1 1 5 4 .........
113 ..........
1 1 5 4 .........
1 0 7 * 4 ..........
9 8 4 .........

76*4 Sale
22 S ale
...... 15
* ........

105*8 N o v ’ 04 . . . . 105*8 105*8
1 1234131*4
131*4 131*4
1 2 4 4 N o v ’ 04
12441244
116*8 M a r’ 02
122 A p r ’ 04
119 i ’2 2
75 J ’n e ’ 02
113 N o v ’ 99
2 9 7 4 ib i* 8
100
100
1 0 7 4 O c t ’ 04
10541074
23 89
96*8
97
97
116 N o v ’ 04 . . . . 115 1 1 7 4
. o
115 J a n ’ 04 a • 115 115
115 N o v ’ 04
112 117
110 M a r’ 03
98*8 O ct ’04 .... 91
99
105
105
1094

52 1 0 1 4 1 0 7 4
10 105 105
3 107^ llO ^

64
77
2 4 4 184
17
16

60
12
6

79
284
194

96 N o v ’ 04 . . . .
90*8 J ’l y ’ 01

9i

96

76%
21
15*4

964

Range
Since
Jan u ary 1

H igh No Low H ig h

A sk Low

107 ..........
131 ..........
124 ..........
1 3 4 4 .........
119 ..........

) A -0 105 Sale 105
......... 105
) A -0 *1 0 5
1094
$ J -J
1094
: J -D

M e tro p o l E l 1 st g 6 s ----M a n S W C o lo n iz g 5 s ----M c K ’ p t & B V See N Y C e n t
M e tro p o lita n E l See M an B y
M e x C en t co n s o l g o ld 4 s . . l 9 l J J -J
1 st c o n s o l in c o m e g 3 s.al9 3 V J ’ ly
2d co n s o l in co m e g 3s..otl9 «L J ’ ly
A -0
A -O
F-A
C o ll t r g 44-s 1 st S e r.
M-S
M-S
J -D
M e x N o rth 1 st g old 6 s . ...1 9 1
M ic h C en t See N Y C en t
M id o f N J See E rie
M il L S & W See C h ic & N 1
M U & M ad See C h ic & N W
MU & N o rth See C h M & S t
J -D
M in n & St L 1 st g o ld 7 s . .19$
J -D
A -0
P a c ific E x 1 st g o ld 6 s ...
J -D
S ou th W e s t E x 1 st g 7s.
M-N
M-S
1 st a n d re fu n d
M in n & S t L g u
J -J
J -J
J -J
M in n U n See S t P M & M
J -D
F -A
M-N
A -0
S t L D iv 1 st r e f g 4 s —
M-N
D a l & W a 1 st g u g 5 s ...
F -A
K a n C & P a c 1 st g 4 s ...
A -0
Mo K
E 1 st g u g 5 s ...
M-N
M-S
J -D
M -S
M-N
M-N
M -S
M-S
F -A
F-A

G e n c o n stam p g td g 5s 1
U n ifie d & r e f g o ld 4 s . .]
R i v <fc G D iv 1 st g 4 s .. 1
V e r d i V I & W 1 s t g 5 s .]
M o b & B irm p r io r lie n g 5s 1 ___
M o r tg a g e g o ld 4 s ............. 1945
M ob J & K C i s t c o n s g 5 s . 1953
M o b & O h io n e w g o ld 6 s .. 1927
1 st e x te n s io n g o ld 6 s ..7 il9 2 7

Week* 8
R ange or
L ast Sale

P rice
F rid a y
Dec 9

105

1 3 6 4 ......
109 4 ........
1 1 5 * 4 .......
110 .........
11641174
97 ........
99

100

May* 00

142
113
1204
121
116
97

D e c ’ 03
O c t ’ 04 0. 0. 11i
113
F e b ’ 04 .... 1 2 0 4 1 2 0 4
J a n ’ 02
N o v ’ 04 . . . . 113 i l 8
9 7 4 10 95
98

98 4 N o v ’ 04

Too .......

103

....

974

994

N o v ’ 01

100 4 Sale
8 5 4 Sale
* 1 0 2 4 .......
8 6 l4 864,
* ........105 4
9 4 S ale
1 1 0 4 .......
1 0 4 4 Sale
........107 4
* 1 0 2 4 .........
......... 105
1 0 5 4 .........
1 2 1 4 123
1 0 7 4 Sale

67 9 6 4 1 0 3
100
101
70 7 5 4 87
84*4
86
1 0 3 4 N o v ’ 04 .... 9 8 4 1 0 7
8 7 4 N o v ’ 04 .... 80
88
104*4 104*^ 50 102 lO o ’a
4 86
94
944
95
1 1 0 4 N o v ’ 04 . . . . 1 0 6 4 1 1 2 4
6 1044105
1044
1044
14 99
106
106
110
106 N o v ’ 04 .... 100 106
L047s N o v ’ 04 .... 104 105
1 0 5 4 D e c ’ 04 .... 1 0 5 4 1 0 9 4
7 118*8 1 2 2 4
1214
122
9 104 1 0 9 4
1074
1074

108 i o s i 2
9 5 4 .........
1 0 2 4 .........
1 0 2 4 .........
..........117
116 Sale

108
1 0 8 4 19 103*4 i0 9
1 9 1 4 96
95 4
95 4
100 M ay’ 01
«
1 0 3 78 D e c ’ 04 «• • 101 103 7e
116 N o v ’ 04 • . 1 0 9 4 1 1 6
1 111*8118
116
116
109*4 O ct ’ 03
964
96*8 138 84
964
95*4
95*4 50 91
97

F -A
J -J
A -0
A -0
9 6 4 Sale
J -j
M-N .......... 96
M -S 102
1 1 2 4 ...
J -J
95
..........
J -J
J -J
J -D 125**8.......
Q-J 122 4 .......
M -S * .......... 97
F-A 1 1 5 * 8 .........
0 2 a 95
4
Q -F
101 1 0 2 sb
J -J

1 1 1 4 M a r ’ 04 __ 1 1 1 4 1 1 1 4
95 N o v ’ 04 . . . . 91
95
126
121
964
115
92 4
101

D e c ’ 04 ___ 123*4 128*8
A p r ’ 04 .... 121 130
N o v ’ 04 .... 90
964
D e c ’ 04 . . . . 1 1 3 4 1 1 6 4
.... 8 8 4 9 2 4
J ’ly ’ 04
N o y ’ 04
101 101

M o n t g o m D iv 1 st g 5 s . .1 9 4 7
S t L & C airo coU g 4 s ..e l
G u a ra n teed g 4 s ............1931
M & O coU 4s See S ou th ern
M o h a w k & M a i See N Y C & H
M o n on g a h ela R iv See B & O
M o n t C e n t See S t P M & M
M o r g a n ’ s L a & T See S P Co
M o rris & E s s e x See D el L & W
123 4 ....... 123*4 N o v ’ 04
asli C h at & S t L 1 st 7 s . 1913 J -J
A -0 1 1 5 4 1 1 6
1154
1154
119*4 ...... 113 I ) e c ’ 99
J a s p e r B ra n ch 1 st g 6 s .. 1923 J -J
M c M M W & A 1 1 st 6 s . .1 9 1 7 J -J 1 1 7 4 ....... 1 1 3 4 J ’ n e ’ 04
T & P B r a n c h 1 st 6 s ----- 1917 J -J
1 1 5 4 ....... 113 J ’l y ’ 04
N ash F lo r & S h ef See L <fc N
N a t o f M e x p r io r lie n 4 4 S .1 9 2 6 J -J *104 ........ 104 N o v ’ 04
1 st c o n s o l 4 s ....................... 1951 A -O * 8 1 4 82
814
8 1 78
N e w H & D See N Y K H & H
N J J u n e R R See N Y C e n t
N e w & C in B d g e See P e n n Co
N O & N E p rio r lie n g 6s £>1915 A - 0 1 1 2 * 8 .......
N Y B k in & M a n B c h See L I
N Y C e n t < H R iv g 3 4 s . 1997 J--J 1 0 0 a 101 > 1 0 0 4
fc
101
4
4
R e g is t e r e d ....................... 1997 J - J 100 4 ....... 100 4 D e c ’ 04
D e b e n tu r e g 4 s ___ 1890-1905 J -D
9 8 * 8 ...... . 101 A u g ’ 04
R e g is t e r e d ............1890-1905 J -D
99 D e c ’ 02
D e b t c e r ts e x t g 4 s ..........1905 M-N i b o 4 ....... 99*4 M a y ’04
R e g is t e r e d ....................... 1905 M-N
98*4 . . . . . . 9 9 4 N o v ’ 02
L a k e S h ore c o ll g 3 4 s . . .1 9 9 8 F -A ......... 91
90*4
9L
R e g is t e r e d ....................... 1998 F-A
9 0 4 90*4 90 D e c ’ 04
M ich C e n t coU g 3 4 s ____1998 F-A
8 9 4 90
894
90
R e g is t e r e d ....................... 1998 F-A
91 J a n ’ 03
B e e ch C reek 1 st g u g 4 s . 1936 J - J
106*8 108
105 4 J ’ly ’ 04
R e g is t e r e d ....................... 1936 J -J
1 0 6 4 ......... 102 M a r ’ 04
2 d g u g o ld 5 s ..................1936 J -J 1 0 9 4 .........
B e e c h Cr E x t 1 st g 3 4 s 61951 A - 0
9 1 4 .........
C a rt & A d 1 st g u g 4 s . . . 1981 J -D
98 4 .........
C le a r! B it C oal l e t s f 4 s . 1940 J -J * 92 4 ......... 95 A p r ’ 02
G o u v & O s w e 1 st g u g 5s 1942 J - d I

120 1 2 4 4
3 11041154

N

....
....
14

11341134
113 113
100
73

104
82

51 96*4 101*4
. . . . 98 1 0 0 4
. . . . 100 101
99 4 1 0 1 4
21
.
10

86
86
854
104
102

934
994
914
1064
102

2631

Page 3

BONDS
N . Y. STOCK E X C H A N G E

W eek E nding D ec 9

N Y C en t & H R — ( C ontinued)
M o h & M ai 1 st g u g 4 s . . 1991 M-S
F -A
A -O
A -0
J -J
R e g is te r e d ...................... 2361 J -J
J -D
J -D
M-S
F -A
J -J
J -J
J -J
J -J
J -J
M-S
.1931 M-S
5s.
Q-M
J -J
J -J
J L<fe S 1 st g 3 4 s ........... 1951 M -S
M-N
J -D
M-N
M-N
A -O
A -0
F -A
M-N
U tic a & B ik R iv g u g 4 s . 1922 J -J
N Y C h ic & St L 1 st g 4 s . 1937 A -O
R e g is te r e d ..........................1937 A - 0
N Y & G r e e n w L a k e See .
N Y & H a r See N Y C <fc H u d
N Y L a c k & W See D L & W
N Y L E & W See E r ie
N Y & L on gB r ^ C e n to fN J
N Y & N E
See N Y N H <fe H
N e w Y o r k N e w H a v & Ha
H o u s a to n ic R c o n g 5 s .. 1937 M-N
N H & D erb y con g 5 s ..3
M-N
N Y & N E 1 s t 7 s ........... 1905 J - J
J -J
N Y & N o r th See N Y C & f l
N Y O & W r e f 1 st g 4 s . .<71992 M-S
R e g is $ 5 ,0 0 0 o n ly ..........g l9 9 2 M-S
N Y & P u t See N Y C & H
N Y & R B
See L o n g Isla n d
N Y S & W See E r ie
N Y T e x & M See S o P a c Co
N o r & S o u th 1 st g 5 s ..........1941 M-N
N o r f & W e s t g e n g 6 s ........1931 M-N
I m p r o v e m ’t & e x t g 6 s .. 1934 F -A
N e w R iv e r 1 st g 6 s ........1932 A -0
N & W R y 1 st co n g 4 s .1996 A -O
R e g is t e r e d ....................... 1996 A -O
P o c a h C & C jo i n t 4 s .. 1941 J -D
C C & T 1 st g u g 5 s ......... 1922 J - J
S cio V & N E 1 st gu g 4 s 1989 M-N
N o r t h I llin o is See C hi & N W
N o r th O h io See L E r ie & W
N o r P a c — P r io r lie n g 4 s . . 1997 Q -J
R e g is te r e d ....................... 1997 Q -J
G e n e ra l lie n g o ld 3 s ___ a2047 Q -F
R e g i s t e r e d ....................&2047 Q -F
S t P a u i-D u l D iv g 4 s ___ 1996 J -D
R e g is t e r e d ....................... 1996 J -D
C B
Q c o il t r 4s S e e G t N o r
S t P & N P g e n g 6 s ___ 1923 F-A
R e g is te r e d c e r t i f i e s . . 1923 O- F
S t P a u l & D u l 1 st 5 s . . . . 1931 F -A
^a
<
1 Q1 7 A -O
1 st c o n s o l g o ld 4 s ..........1968 J -D
W a s h C e n t 1 st g 4 s ..........1948 Q-M
N o r P a c T e r C o 1 st g 6 s .. 1933 J -J
N o r R y Cal See S o P a c
N o r W is See C St P M & O
N o r & M o n t See N Y C en t
In d & W See C C C & S t L
h io R iv e r R R 1 st g 5 s. 1936 J -D
G e n e ra l g o ld 5 s ..................1937 A -0
O re & C al See S o P a c Co
O re R R & N a v -See U n P a c
O re S h o rt L in e See U n P a c
O s w e g o & R o m e See N Y C
O C F & S t P See C & N W
>ac C oa st C o 1 st g 5 s ___ 1946 J -D
a c o f M is s o u r i See M o P ac
P an am a 1 st s fu n d g 4 4 s . .1 9 1 7 A -O
S in k fu n d s u b s id y g 6 s .. 1910 M-N
P en n Co— G u a r 1 st g 4 4 s . 1921 J -J
R e g is t e r e d ....................... 1921 J -J
G u a r 3 4 s c o ll tru st r e g .1 9 3 7 M-S
G u a r 3 4 s co ll tr se r B ...1 9 4 1
T r Co c e r t if’ s g u g 3 4 8 .1 9 1 6 M-N
C S t L < P 1 st co n g 5 8 .1 9 3 2 A -O
fe
R e g is t e r e d ....................... 1932 A -O
C 1 & P g e n g u g 4 4 s s e r A . ’ 42 J -J
S e rie s B .............................1942 A -O
S e rie s C 3 4 s ....................1948 M-N
S e rie s D 3 4 s ....................1950 F -A
E r ie & P i t t s g u g 3 4 s B .1 9 4 0 J - J
S e n e s C .............................1940 J -J
N & C B d g e g e n g u g 4 4 s 1945 J -J
P C C & S t L g u 4 4 s A . . . 1940 A -O
S e n e s B g u a r ..................1942 A -0
S e rie s C g u a r ..................1942 M-N
S e rie s D 4 s g u a r ............1945 M-N
S e rie s E 3 4 g u a r g ___ 1949 F -A
P itts F t W & C 1 s t 7 s . . . 1912 J -J
2 d 7 s .................................... 1912 J -J
3d 7 s .................................711912 A-O
P en n R R 1 st rea l e s t g 4 s . 1923 M-N
C o n so l s te r lin g g 6 s ........1905 J - J
C on c u r r e n c y 6s r e g ...g r l9 0 5 Q-M
C o n so l g o ld 5 8 ....................1919 M-S
C on sol g o ld 4 s ....................1943 M-N
C o n v e r tib le g 3 4 s ............ 1912 M-N

O

P rice
F rid a y
D ee 9
B id

W eek s
R ange or
Last Sale

A sk Low

1 0 4 *4 ..........
104 .........
1 0 1 4 .........
100 .........
1094110
108*4 109*4
99*4 100
99*8 1 0 0 4
1 0 0 4 Sale
105 .........
124 ..........
120*8 .........
1 3 2 4 .........
129 ..........
120 . . . . . .
1 1 0 4 .........
122*8 ..........
1 2 1 4 .........
1 0 7 * 8 .........

Bonds
Sold

BONDS
N. Y. STO C K E X C H A N G E

Bonds
Sold

InVst
Period

B ond R ecord— Continued—

JnCst
Period

D e o . 1 0 , 1904.

1

R ange
Since
J an u a ry 1

H ig h No Low H ig h

107 4 J ’l y ’ 00
105 O ct ’ 02
1 0 5 4 N o v ’ 01

51 106*4 i i o
7 105 4 1 0 9 4
100
1 0 0 4 16 98
102
9 9 4 D e c ’ 04 . . . . 98 100<4
144 9 8 4 1 0 1 7s
100*4
10 1
114 F e b ’ 02
109 4
1094

121
139

110
1094

N o v ’ 03
J a n ’ 03

i 09 *8 A p r ’ 04 . . . . 109*8 i 12 4
3 121 1 2 2 4
1224 1224
121 J ’ l y ’ 04 . . . . 121 121
1 0 6 4 J ’ n e ’ 04
1054 1064
1 0 6 4 N o v ’ 00

95 .........
97 .......... 9 6 4 M a y ’ 04 . . . .
6 6 4 .........
1 00 1 0 5 4 100 S e p ’ 03

9Gl4

97

i l 3 * 8 ......... i l 5 4 S ep ’ 04 . . . . 113 U 5 4
3 11541194
117*8119
1174
1174
1 0 7 3 s ......... 113*4 J a n ’ 02
1 0 6 4 ......... i"0 4 4 A p r ’ 04 . . . . 104 1 0 4 4
1 0 3 4 1 0 4 4 104 D e c ’ 04 ___ 102*4 106
101 M a r’ 04
101
101

1 2 4 4 . . . . . . 131*4 A p r ’ 03
1 0 7 4 ..........
1 0 2 4 .......... i b l 78 N o v ’ 04 . . . . i o i 78 i o i 78
102 . . . . . . 1 0 2 4 N o v ’ 04 — 1 0 2 4 1 0 2 4
105

S ale

104*4 1 0 5 4 113 1 0 0 4 1 0 5 4
100 D e c ’ 03

1 10 111
1 3 1 * 4 .........
133 ..........
13141324
100*4 1 0 1 4

110
110
1 110 1 1 2 4
130 A u g ’ 03
132 D e c ’ 04
1324132*4
132*4 A u g ’ 04 —
1 2 5 4 132*4
100*4 1 0 1 4 27 9 6 4 1 0 2 * 4
99*4 99*4
99*4 J ’ n e ’ 04 —
6 8 7 4 97 4
94*4 95
95
1 0 9 4 ......... 112 A u g ’ 04 . . . . 112 112
1 0 2 4 Sale 101*4 1 0 2 4 25 9 9 4 103
105
1 0 5 4 85 1 0 1 4 1 0 5 * 8
104*4 N o v ’ 04 — 101 1 0 4 4
7 5 4 S ale
75
75*4 106 70 4 75*4
74 4 ......... 7 4 4 N o v ’04 —
68*4 75 4
99 .......... 98*4
98*4 11 97*8 1 0 0 4

1 0 5 4 Sale

125 .......... 125
1 1 8 4 ..
132
1 1 2 4 .......... 112 4
108 .......... 107
99
.......... 9 6 4
91
.......... 9 4
1 1 8 4 .......... 1 1 8 4

O ct ’ 04
1224125
J ’l y ’ 99
J ’ly ’ 03
N o v ’ 04 . . . . 1 0 5 4 1 0 8 4
A u g ’ 04 —
964 964
A u g ’ 04 —
85
94
6 111 119
1184

1 1 5 4 ......... 115 4 N o v ’ 04
112 ......... i l l
N o v ’ 04

1 1 1 4 ......... 1 1 1 4

110
111

1 105

1114

1174
1134

1124

104 ..........
100
.........
1 1 0 * 8 .........
106 ..........
9 2 4 .........
9 2 4 .........
.......... 98
1 1 8 4 .........

1 0 2 4 J ’ n e’ 04 . . . . 1 0 2 4 1 0 2 4
102 A p r ’ 02
1 108 1 1 1 4
1104
110*8
105*4 J ’ n e ’ 04 . . . . 105*4 108 4
102 N o v ’ 98
9 2 4 D e c ’ 03
8 954 994
97*J
97*4
118 O c t ’ 04 . . . . L18 120

115 ..........
115 ..........
.........
95
9 5 * 4 .........
9 6 4 ..........
9 6 4 ..........
107 4 ..........
113
.........
1 1 2 4 .........
Ill
_____
1 0 2 4 .........
94 .........
1 2 0 4 .........
120 4 .........
120 123
1 0 3 * 8 .........

1 0 8 4 A n g ’ 03
96 J a n ’ 04 ...
96
102 N o v ’ 00
98*4 A p r ’ 04 ••. • 9 8 4
1L0 *2 A u g ’ 04
112 4 N ov ’ 04
110 A u g ’ 04
104 4 O c t ’ 04
9 3 4 S e p ’ 04
127*8 O ct ’ 02
121 ~ M a r’ 04
119 A p r ’ 04
107 4 M a r’ 04

___
___
.. .
___
„. „ _

108
109*4
110
1014
90

96
98*4
1104
112 4
110
104 4
93 4

12 L 1 2 l ' “
___ 119 119
.... 1 0 4 4 1 0 7 4

L1141H 4
1 1 2 4 ......... 1 1 1 4 Sep ’ 04
106 A u g ’ 03
102*4 Sale 102 4
103*4 145 94 4 103*4

L Y IIS O E L L A N E O U S B O N D S — C o n t in u e d o n N e x t P a g e
C oa l and Iron
C ol O < I D e v C o g u g 5 s .1909
fc
C ol F u e l Co g e n g o ld 6 s . . . 1919
C ol F & 1 Co g en 8 f g 5 s .. 1943
C o n v e r t ib le d e b g 5 s ___ 1911
T r u s t Co c t f e ............................
C o n t in ’t a lC l s t s f g u 5 s g . l 9 5 2
G r R iv C oal
C 1 st g 6 s .. 1919
J e t f& C lear C <fc I 1 st g 5 s. 1926

2d gold 5 s...........................1926

K a n & II C & C 1 st s f g 5s. 1951
P le a s V a l C oal 1 s t g s f 5 8 .1 9 2 8
T e n n C oal g e n 5 s ................1951
T e n n D iv 1st g 6 s ........&1917
B irm D iv 1 st c o n s o l 6 s .. 1917
Cah C M Co 1 st g u g 6 s. 1922
D e B ar C <fc I C o g u g 6 s .1910
V I r o n Coal<fc C o 1 st g 58.1 9 4 9
W ha L E < P C O ls t g o s .1 9 1 9
fe

J -J
M-N
F-A
F -A
F -A
A -O
J -D
J -D
J -J
J -J
J -J
A -0
J -J
J -D
F-A
M-S
J -J

.......... 80
105 ........
1 0 2 4 ........
.......... 90
85 Sale
115

96

111

112

Sale

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

99 ........
105 ........
82 *4 Sale

55 N o v ’ 00
107 4 O c t ’ 04
102*8 102*8
9 0 N o v ’ 04
82 4
87
107 4
107 *b
102 4 J ’ l y ’ 04
107 M a y ’ 97
102 4 O ct ’ 03
1 0 6 1 F e b ’ 02
105 O ct ’ 00
96
96 4
110 S ep ’ 04
111*4 112
102 D e c ’ 03
1 0 4 4 O c t ’ 04
821*
84
32 Jan ’ 00

*N o p rice Friday; latest bid and asked this w eek.

T e l e g r a p h a n d T e le p h o n e
A m T e le p < T e l o o il tr 4 s 1929
fc
105 1 0 7 4 C om m C a b le C o 1 st g 4 s . . 2397
E rie T < T c o l tr g s f 5 s .. 1926
fe
12 9 5 1 103
4
M e t T & T 1 st s f g 5 s ........1918
69
91
N Y & N J T e l g en g 5 s .. 1920
3 i i 6 9 4 88
23 106*8 10776 W e s t U n ion co l tr c u r 5 s .1938
F d an d rea l e s t g 4 4 s . -.1 9 5 0
102 4 1 0 2 4
M u t U n T e l s fu n d 6 s . -.1 9 1 1
■ N o r th w T e l g u f 4 4 s g . . l 9 3 4

J -J
Q- J
J’. J
M-N
M-N
J -J
M-N
M-N
J-J

94
.......... 100 4
109
1 0 9 * 4 ......... 109*4
104 4 ......... 105 4
112 ......... 112 4
104 4 Sale 104 4
1 0 7 * 8 ......... 107
1 0 2 * 4 ......... 103

Q-F
M-S
M-S
J -J

99
96 4
95
87
110
71*4

92

J ’ n e ’ 04
A p r ’ 02
O ct ’ 99
J ’ n e ’ 04 __
J ’l y ’ 03
2
112 4
104*8 27
J ’ n e ’ 04
J ’ l y ’ 04 —

90

94

109*4 109*4
105
112 4
1014106 4
L07 107
LOO 103*4

M anufacturing dc Industrial
91*4 96 4 A m C ot O il ext. 4 4 s ........... 1915
102 1 1 2 78 A m H idetfe L l e t s f g 6 s .. 1919
31 1 0 1 4 H 3 4 A m S p irits M fg 1 st g 6 s . . 1915
A m T h rea d 1st c o l tr 4 s . . . 1919
1 0 0 4 1 0 5 4 A m T o b a c c o (n o w ! 6 s T r Co ct.fs
74 6 6 4 8 4 34
4s M o rto n T r u s t C o c t f s .........
Bar & S C ar Co 1st g 6 s . . . 1942

a Due Jan

b D ue Feb

e Due .May ^ D u e .r n e

J -J

/i Due J 'ly

100
100
100
100
6 95
Sale
98 4
95 4
9 8 4 62 70
......... 96 4
97 ^ 30 82
97 4
Sale
87
88
7 74
88
S ale 108
1 1 2 4 1009 106*4 1 1 2 4
Sale
69 4
75*4 4524 63*8 76
105 J an *00

p Due N ov

a Option sale.

[V

BonG rvtC - 6 — Concluded— Page 4

2632
BON 1)S
*T. y . S T O C K E X C H A N G E

W eek Ending

dec

9

P e n n K K — (C o n tin u ed )
A Hog V a l g e n g u g 4 s . . . 1 9 4 2
Cl tfe M a r 1 st g u g 4 V s . . 1 9 3 5
D H K H A B g e 1 st g u 4s g .*86
G r H A I e x 1 st gu g 4 V s 1941
P h i l a B a l 6c W 1 st g 4 s . . 1943
K e g is te r e d 4 s ................. 1943
S u n ita L e w is 1 st g 4 s . . . 1936

Dr ice
tY id a y
D ec 9

s >
j
-I**

Hid
M -S
M-N
F-A
J -J
M -N
M -N
J •J
M -S

W e ek s
L a n ge or
Last Sale

S .c

High. A’o Low
102 N o v ’ 97 . . . .
112*4 M a r ’OU ___

A sk\ Low

104 V
108
101
110 V
106

.........
..........
.........
112
107*j

L a n ge
Since
J a n u a ry 1

110 O c t ’ 04 ___
107 V N o v ’ 01 . . . .
..........................

H igti
.........

108 V i 10
107 V 107 V

1U 1V . . .
I l l V ......... 110 V S e p ’ 04 . . . . n o v i n

P e n s a c o la
A t l See L & N ash '
P e o 6 E a st See C C C <& St 1.
c
O-F 1 2 1 * 4 .......... 120 V N o v ’04
P e o 6c P o k U n 1 st g 6 s ----- 192
120V 123V
9 5 * 4 .......... 101 J ’ l y ’ 04 . . . .
98
101
2d g o ld 4 Has....................... 6192 IM-N
P e r e M u r q — (Jlitfe W M 5s 1 9 2 1 1J -D 106 V .......... 109 A p r ’ 02
1 118 122
F l i n t < f c P M g 6 s ................ 1920 A -O 121 * 8 .......... 121*8 1 2 1 V
107*4 111 V
1st c o n s o l g o ld 5 s .......... 1939 M-N 111 V ......... 111 N o v ’ 04
P t H u r o n D iv I s t g o s .1 9 3 9 A-O * 1 1 3 * 4 .......... 112 V O c t ’ 04 —
109V 112V
S a g T u s Jfc H 1 s t gn g 4 s . 1931 F-A
P h il B & W See P e n n lt K
......... 119*4 A p r ’ 04
P h il a & R e a d in g c o n s 7 s . 1911 J -D 117
n < j> 4 1 1 9 ^
137 j ov ’ 97
N
P in e C re e k r e g g u a r 6 s . . . 1932 J -D 123 V ..
P itt s C in <fc S t L S e e P e n n Co
P it t s C le v e & T o l See B <fe O
P itt s F t W 6 C h See P e n n Co
c
O ct ’ 01
P itt s J u n e 1 s t g o ld 6 s ......... 1922 J •J 122 L .......... 120
Ill
A -0
112 V D e c ’ 02
P itt s & L E r ie 2 d g 5 s . . . a l
P itt s M c K e e s 6 Y S eeN Y Oen
0
.......... 114 V S e p ’04
P it t s S h & L E 1 s t g 5 s . ..1 9 4 0 A -O 117
114 V 117 V
9 8 J ’ i y ’ 97
.........
l e t c o n s o l g o ld 5 s ...............1943 J - J 116
P it t s 6 W e s t See B & O
c
P itt s Y & A s h 1 s t c o n 5 s . 1927 M-N 1 1 4 V ......... 117 V Oct, ’ 04
114 V H 7 V
10*3 V S ale 1 0 1 V
1 ) e a d in g C o g e n g 4 s ......... 1997 J -J
102 V 99 94 V 102*4
100 N o v ’04 . . . .
JLV R e g is t e r e d ........................1997 J -J
98
100
J e r s e y C e n t c o ll g 4 s . . . 1951 A 0
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98
9 8 V 60 91*8 90
R e n s s e la e r 60 S a r See D <fc H
R ic li & D a n See S o u th R y
R ic h & M e e k See S o u th e r n
R io G r W e s t See D e n & R io G r
R io G r J u n o 1 st g u g 5 s . . . 1939 J -D 109
116
1 1 1 V J ’l y ’ 04
n o v n iv
J -J
68 J ?n e ’ 04 . . . .
7 0 V 77
63 V 68
87 V S e p ’ 04 —
G u a r a n te e d ......................... 1 9 4 0 J - J
87 V 87 V
R o c h 60 P it t s See B R & P
R o m e W a t 60 O g See N Y C ent
94
.......... 103*4 M a y ’ 04
R u tla n d 1 s t c o n g 4 V s ----- 1941 J - J
103*4 104
R u L C a n a d 1 s t g u g 4 s . . .1 9 4 9 J -J
1 0 1 1 X o v ’ 01
4
O a g T u s 6 H See P e r e M a rq
c
O t J o 6c G r ts i 1 s t g 4 s . ..1 9 4 7 J -J
94 V Sale
94
9 4 V 11 8 4
94V
S t L a w 6c A d ir o n l s t g o s . 1990 J - J
A -G
S t L 6c C a iro See M o b & O h io
S t L 6c Ir o n M o u n t See M P
S t L K O 6c N See W a b a sli
S t L M B r See T R R A o f S t L
S t L 6c S F ra n 2 d g 6 s C l B 1 9 0 6 M-N 1 0 3 V .......... 106 V O c t ’ 04
103 V 1 0 6 V
2d g o ld 6 s C la ss C ............ 1906 M-N 103*8 ......... 103V *J’n e ’ 04
103 V 1 0 3 V
2 122*4 129
129
G e n e r a l g o ld 6 s .................. 1931 J -J
129 133 V 129
. . . . 110
114
G e n e r a l g o ld 5 s .................. 1931 J - J
1 1 4 V .......... 1 1 4 N o v ’04
S t L 6c S F R R c o n s g 4 s . . ’ 90 J -J
99 V N o v ’ 04
........101
96
99 V
S o u th w D iv l s t g 5 s . .1 9 4 7 A -O
99 V .......... 9 8 V N o v ’ Ol . . . .
98 V 1 0 9
R e fu n d in g g 4 s .............. 1951 J -J
89 V Sale
89
8 9 V 667 79 V 90 V
5 94
J -D
96
96
5 -y e a r g o ld n o te s 4 V --1
98 V
K C F t S & M c o n g 6 s . . 1 9 2 8 M-N 1 2 5 V 1 2 6 V 1 2 6 V N o v ’ 04 . . . . 119 V 126 V
K C F t S & M R y r e f g 4 s 1 9 3 6 A -O
89
88*4 S a le
86V
88*4 86 78
K C A M U & B 1st g u 5 s . 1929 A -O 102 V
S t L o u is S o See I l lin o is C e n t
St L S W 1 s t g 4 s bd c t fs .1 9 8 9 M-N
97*4 S ale
97*8
97*4 70 9 1 V 100
12 7 0 V 8 5 V
2 d g 4 s in c bon d c t f s . . . ^ 1 9 8 9 J -J * ......... 85
85
85
C o n s o l g o ld 4 s .................... 1932 J -D
81
S a le
80 V
8 1 V 3 c 0 65 V 83
G r a y ’ s P t T e r 1 st g u g 5s 1947 J -D
S t P a u l 6c D u l See N o r P a c ific
S t P a u l M 6c M a n 2 d 6 s . . . 1909 A -O 1 1 0 * 8 .......... 110*8 N o v ’ 04
107 V 112
1 3 4 V .......... 134 V O c t ’04 . . . . 1 3 0
1st c o n s o l g o ld 6 s ...............1933 J - J
134V
R e g is t e r e d ........................ 1933 J -J
140
M ay’ 02
R e d u c e d to g o ld 4 V s .. 1933 J - J
LI 2
.......... 111 V N o v ’ 04 . . . . 107 V 112*4
R e g is t e r e d .................... 1933 J - J
116 V A p r ’ 01
M-N 1 1 1 V .......... 111*4 S en '0 4 . . . . 1 0 9 V l l l 34
M o n t e x t 1 s t g o ld 4 s ___ 1937 J -D 102 V .......... 103
3 100
103V
104V
R e g is t e r e d ........................ 1937 J -D
106 M a y ’ 01
E M in n 1st d iv 1 s t g 5 s . . 1908 A -O 102 V ......... 102 V O c t ’ 04
102 V 1 0 4 V
N o r D iv 1 st g o ld 4 s ___ 1948 A -0
J -J
M in n U n io n l s t g 6 s ----- 1922
125 V . .
128 A p r ’ 02
M o n t C 1 s t g u g Bs.......... 1937 J -J
13 4 *4 ........ 135 A p r ‘ 04 ____ 133 1 3 5 V
R e g is t e r e d ........................ 1937 J -J
115
A p r ’ 97
1 st g u a r g o ld 5 s ............ 1937 J -J
118
.......... 116*4 S ep ’ 04 ___ 114 V 116*4
W ill A S F 1 s t g o ld 5 s . .1 9 3 8 J -D 1 1 9 V .......... 117 J a n ’ 04 —
117
117
S t P A N u r P a c S 'e e N o r P a c
S t P 6 S ’ x C ity S'eeC S t P M 6
c
cu
S a lt L a k e O 1 s t g s f 6 s . . . 1913 J -J
S F e P r e s A P li 1 s t g 5 s . . . 1942 M-S 1 0 9 V .......... 110 J a n ’ 04 —
110
n o
S A A A P See S o P a c C o
J -J
S F A N P 1 s t s in k f g 5 s . 1919
105
.......... 113*4 D e c ’ 01
S a v F A W e s t See A t l C o a s t L
S c io to V a i A N E See N o r A W
S e a b o a rd A i r L in e g 4 s .. .1 9 5 0 A -0 .......... 85
37 65
85
85
85 V
C o ll tr r e fu n d g 5 s ..........1911 M-N 102 V .......... 102*4
102*4 16 9 6
104
C a r C e n t 1 s t c o n g 4 s . ..1 9 4 1 J -J
98
.......... 9 8 N o v ’ 04 ___
91
98
F la C en A P e n I s t g 5 s . l 9 1 t J - J
105 V .......... 100 S ep 00
1 s t la n d g r e x t g 5s . . . 1931 J -J
102
..........
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108
1 0 9 V 104*4 J ’ l y ’ 04 ___ 104*4 104*4
G a A A la R y 1st c o n 5s 01945 J - J * 1 i 2 V ........ 112 V N o v ’ 04 . . . . 102
112V
G a C ar A N o 1 s t g u g 5s 1929 J -J
Ill
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J -J
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S lie r S h r A S o See M K A T
S ii S p C ca A G See A t l C o a s t L
8 od B a y A S o 1 s t g 5 s ........ 1924 J - J
1 0 3 V ......... 102 J a n ’ 03
S o C ar A G a See S o u th e r n
8 0 P a c Co— C o ll tr g 4 V s . . 1905 J -D
100 V Sale 1 0 0 V
1 0 0 V 82 9 7 V 102 V
93 V Sale
G o ld 4 s (C e n t P a c c o l l ) . /cl949 J -D
119 87 V 96 V
93
94
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94 V A u g ’0 4 . . . .
85*4 9 4 V
A A N W 1 st g u g 5 s ____1941 J - J 1 1 0 * 4 .......... 113 V O c t ’ 04
97
113V
C e n t P a c 1 st r e f g u g 4 s 1949 F -A 1 0 1 V S ale 1 0 1 V
50 97 V 102 V
102
R e g is t e r e d ........................ 1949 F -A
99 V M a r ’ 03
M o r t g u a r g o ld 3 V s .. / c l 929 J -D
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89
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G al l i a r A S A l s t g 6 s . . 1
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109 V O c t ’ 04
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M e x A P a c l s t g 5 s ____1931 M-N I l l
1 1 4 V 113 N o v ’ 04
105V H 8 V
G ila V G A N 1 s t g u g 5 s . 1924 M-N 1 0 5 V .......... 110 O c t ’ 04
105
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113
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W a c o A N W d iv l s t g 6* ’ 30) M-N
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M o r g a n ’ s 1-a A T 1st 7 8 .1 9 1 8 ] A - 0 129 V
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N Y T A M e x gu 1 st g 4 8 .1 9 1 2 ] A -0
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N o o f Cal 1st gu g 6 s -----1907 J -J I 105 V ......... 106 Sep ’04
116 V ......... 113 J a u ’Oi
G u a r a n te e d g o ld 5 s ___ 1 9 3 8 A O
O re A Cal 1 st g u a r g 5 8 .1 9 2 7 J - J | 10 L ......... 102 N o v ’04 .. .1 100 102
38 I 76
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88
89
90 V
S A A A P a s s 1 s t g u g 4 s . 1943 J -J
109 109V 109 V Sep 3)4
!105 109 V
S o P o f A r g u 1st g 6 s . . .c l9 0 9 i J - J
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1 st g u a r g 6 s ................ c l9 1 0 J - J
S P o f C al l s t g 6 s ........... 1905 A -0 : 100 V ......... 100V Oct ’04 . . . . 100*8102
101 v ......... 102 O c t ’03
1st g 6s s e r ie s B ........... 1905 A O
102 Hz........ 104*4 S ep ’(Mi. - - 1 0 2
1 s t g 6 s s e r i e s C A D . .. 1 9 0 6 A -O
104*4
l s t g Os s e r ie s E A F .. .1 9 1 2 A -0 1 1 3 * 4 ........ 113 O ct’04. — 1412V 115 V
1 st g o ld 6 s ........................ 1912 A -0 1 1 3 * 4 ........ 11 4 V A p r *04|. ---1 1 1 4 V 114 V
1 st c o n g u a r g 5 s ..........1937 M-N 1 1 5 V ........ 119 F e b ’ 04! - - • ‘1119 119
1 1 U *4
107*4, 22 107
S t a m p e d ........1 9 0 5 -.. 1937 M-N 1 0 7 * 4 ........ 107*4
109 V ____ 103 S ep ’ 04 ’ . — |l08 1 0 8 * 4
S P a c o f N M e x 1 st g 6 s . .1 9 1 1 J -J
T e x A N O 1 s t 7 s .............. 1905 F -A 101*fe........ 103 O c t ’ 04;- — 1101 103
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110
........ 109
109
S a b in e D iv 1 s t g 6 s ----- 1912 M S
103
10 6
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C o n g o ld 5 8 ...................... 1943 J - J
120 I 15 jl 1 1
1 1 9 V 120
120
119*4
S o u th e r n — 1 s t c o n g 5 s ----- 1994 J - J
F e b ’ 04
110
..........113
R e g is t e r e d ........................ 1994 J - J
|108 n o
96
9 6 V 98
96*4 loll 92*4 9 7 V
M o b A O h io c o ll tr g 4 s . .1 9 3 8 M -S
114
117V
M em D iv 1 s t g 4 V -5 S ... 1996 J -J 1 1 7 V ....... 117*4 D e c ’ 04
99
99
99
........
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S t L o u is d iv 1 st g 4 s ----- 1951 J - J
; 93 V 1 0 0 >
1 1 8 V N o v ’ O-i
118V
115 1 1 8 V
A la C e n R 1 s t g 6 s .......... 1 918 J -J
9 6 V D e c ’ 04
96
97
A t l A D a n v 1 s t g 4 s ........1948 J -J
9 1 V 97
90 V
9 0 V 471 89 V 90 V
*89V
2 d 4 s ................................... 1 948 J - J
93
A t l A Y a d 1 st g g u a r 4 s . 1949 A -O
117
118 M ay’ 04
. - 1 1 8 118
C o l A G r e e n y 1 s t 6 s ........ 1916 J -J
116
116 V O c t 04
- . 1 1 3 116V
E T V a A G a D i v g 5 s . . 1930 J - J
121 N o v ’ 04| -•1117 121*4
C o n 1 s t g o ld 5 8 ...............1956 M-N 121
112*8 N o v ’ U-i
- - , 109 11 2 V
E T e n r e o r lie n g 5 s ........ 1 938 M-S 113
124
125 V
125 V
5 |l 18*4 125 V
G a P a c R y 1 s t g 6 s ..........1922 J -J
125
S ep ’ Oi
124*4
K n o x A O h io 1 s t g 6 s . . . 1925 J - J
- - IJ 20 125
118 119
118 O c t ’ 04
- -‘ |l 14 118
R ic h A D a n c o n g 6 s ----- 1915 J -J
2 :1 1 I V 1 1 2 V
D e b 5 s s ta m p e d ...............1927 A -0 1 1 0 V - — • 111*4 H I V
8 7 V J ?l y ’ 04
88
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87V
R ic h A M e e k 1 s t g 4 s . . .1 9 4 8 M-N
10 8 N o v ’ 04
S o C ar A G a 1 s t g 5 s ----- 1 919 M-N 1 0 8 V 109
-- 1 0 3 V U 0 V
V ir g in ia M id s e r C 6 s . . .1 9 1 6 M -8
O c t '04
109
110
S e r ie s D 4 -5 s ...................1921 M-S 10 8 V ........ 109
S e r ie s E 5 s ........................ 1926 M -S 1 1 1 V .......... 115 J a n ’ 03
116
116
D e c ’ 04
n o
117
G e n e r a l 5 s ........................ 1 9 3 6 M-N * 1 1 3
1 1 0 V M a y ’04 •. •• 1 1 0 V 1 1 2 V
G u a r s ta m p e d ............1936 M-N
92
.......... 93
D e c ’ 05
W O A W 1 st c y g u 4 s . . 1924 F -A
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117
W e s t N C 1 s t c o n g 6 s . .1 9 1 4 J - J
51112V I * ?
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125 13 0
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9 7 * 4 .......... 100 N o v ’ 04 ----- !1 0 0
S ta t I si R y 1 st g u g 4 Has.. 1943 J -D
190
S y r a B in g A N Y See D L A W
1 12 l4 .......... 110 M a y ’ 0-4
r| 'e r A o f S t L 1 s t g 4 V s . . 1939 A -O
n o
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G e n r e fu n d s f g 4 s ..........1953 J - J
l o u v .......... 100 V N ov ’ 04
9 8 ]0 U V
S t L M B g e T e r g u g 5S.193U A -O 1 1 2 V .......... 112 V J ’i y ’ 04
110 112V
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1 s t g o ld 5 s ............................2 0 0 0 J -D 119 V 1 2 o V 119 V
122
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98
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W M in W A N W 1 st gn 5s ’ 30 F -A
101 1 0 6 V
115
11 6
115 V D e c ’ 04
T o l A C C 1 s t g 5 s .................1935 J - J
112V U 5 V
W e s t e r n D iv 1 s t g 5 s . . . 1935 A -O 1 1 0 * 4 .......... 111 M a y ’ 04
111
111
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S ep ’ 04
G e n e r a l g o ld 5 s .................. 1 935 J -D Iu 7 V .......... 107
96
.........
96
K a n A M 1 s t g u g 4 s ----- 1990 A -O
96V
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95
Sale
95
1 86
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T o l P A W 1 s t g o ld 4 s . . . . 1 9 1 ' J - J
95
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90 V
9 0 V 30 8 1
83
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83 V Sale
84
5 0 -y e a r g o ld 4 s .................. 1950 A -O
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95 v .......... 95 V S ep ’ 04 ___
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94
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112
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2 91*4 9 4 V
1 s t r e fu n d g 4 s ............1952 A -O
93 V .......... 94 V
94V
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1 0 6 V 119, 100V 106 V
R e g is t e r e d ....................... 194
J -J
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.......... 102
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1 st c o n s o l g 5 s .................1 946 J - J
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U ta h A N o r 1 st 7 s .......... 1908 J - J
D e c ’ 03
.......... 114 V A p r ’ U2
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95
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S e r ie s B ..............................1939 J - J
65
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68V 109S 56
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105
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112
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112
1 106V H 2 V
D e s M o in D i v l s t g 4 s . . 1939 J -J
97
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90
97
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79 V 8 3 V
85 V 8 7 V 83 V A u g ’04 . . . .
T o l A C h D i v 1 st g 4 s . . . 1941 M -S
95
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D is till o f A m e r c o ll t r g 5 s . 1911
III S te e l C o d e b 5 s ................ 1 9 1 0
N o n -c o n v d e b e n 5 s .......... 1913
In t P a p er Co 1 st con g 6s. 1918
I n t S t P u m p 1 0 -y r c o n v . 6 s ’ 13
K n i c k e r I c e ( C h ic ) 1 st g 5 s . ’ 28
L a c k a w S te e l 1 st g 5 s ----- 1923
N a t S ta rch M f g C o 1 s t g 6s 1 9 2 0
N a t S ta r c h C o s f d e b 5 s . . 1925
IS ta n R o p e 6 T 1 s t g 6 s . . . 1 9 4 6
c
I n c o m e g o ld 5 s ...................1946
U S L e a th C o s f d e b g 6 s . . 1913
! U S K o a lty & I c o n v d e b g 6 s ’ 24
U S S te e l C o rp 10-60 y r 5 s . d ’ 6S
R e g i s t e r e d ..............A p r i l 1963

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

N o p r ic e F rid a y; latest bid and asked,

S2
78
97
93
92
108
103

S a le
V
V
V
V
V

Sale
.........
..........
.........
109
..........

105 V S ale
87
90
........ . 73
49 V Sale
6
S ale
111
..........
95*4 Sale
91*4 S ale

a D u e Jan

80
85 V
77
99
99
92
1U9
104
97 V
105
90
75
45

85 V 791 53*4 85*4
85 V 30 57*4 85 V
SO 1031 61 V 80
S ep ’ 03
J a n ’ 99
F e b *04
92
92
5 105 V 109 V
109 V
105
6 97
105
O c t ’ 04
97V 97V
106
43 92*8 106
S ep ’04
87
90 V
N o v ’ U4
63
75
49 V 2*2 35
52
7
6
61
IV
9V
1 1 0 *i
15 107*4 1 1 3 V
111
95*4
80
97 V
9 6 V 21
88
94
871(! 68*4 9 5 V
93 V 14 68*4 95 V
90*4

M is c e lla n e o u s
A d a m s E x c o l tr g 4 s .......... 1948
A m Dkcfc i m p 5 s See C e n t N J
A m S S C o o f W V a g o s ___ 1920
B ’k l ’ n F e r r y C o 1 s t c o n s g o s ’48
C h ic J c & St Y a r d c o l g o s . 1 915
D etM < & M l d g r in c o m e s .. 1911
H o b o k e n L<fe 1 g o ld 5 s . . . 1910
M ad S q G a rd e n 1 st g o s . . 1919
M ail B e ll H & L g e n g 4 s . . 1940
N e w p N e S h ip 6c D 1) 5 s (71990
N Y D o c k 5 0 -y r 1st g 4 s . . 1951
St J o s e p h S tk Y 'ds 1 s t 4 V s .1 9 3 0
S t L T e r C u p p le s S ta t’ n<£- P r o p
C o 1st g 4 V s 5 -2 0 y e a r .. 1 91/
S Y u b a W a t C o co n g 6 s . . 1923
Sp V a l W a t W o r k s 1 st 6s 1 906
U S R e d < R e f 1st s 1 g 6 s. 1931
fc

1

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

103 V 104
63
100

74

104

100*4 J ’ n e ’ 02
63 V 63
64
.......... 107*4 N o v ’04
79
7S N o v ’ G-»

......................
92V

103V

95

5U
93

15 100

104

60
66*4
. “ I 107V 107*4
76 V 83

F e b ’ 02

89 V 93

93

i ’1 2 j ’iy ’04
9S V ........ ii3 V J ’iy ’oo
SO
81

112
’ ll

112

*70“ " 8 l ”

b D u e Feb c D ue M ar d D u e A p r A D u e J ’ l y k D ue A n g o Due O ct p D u e N ov ? D u e D ec s O p t io n s a le
\

V olu m e of Business at S tock E xch an ges
T R A N S A C T IO N S A T T H E N E W Y O R K STO C K E X C H A N G E
D A IL Y , W E E K L Y A N D Y E A R L Y

Stocks

Week ending
D ecem ber 9
1904

P a r value

Shares

R a ilro a d cfee
B on ds

State
B onds

U S
Bond.s

$ 7 9 ,3 4 0 ,5 0 0
1 4 5 .7 3 8 .2 0 0
1 3 9 ,1 1 5 ,9 0 0
2 1 7 ,6 2 3 ,0 0 0
2 7 4 .2 8 1 .2 0 0
1 5 8 ,4 1 4 ,1 5 0

$ 2 ,9 9 1 ,5 0 0
5 ,0 0 7 ,5 0 0
4 .5 7 2 .0 0 0
7 .8 9 3 .0 0 0
8 .7 5 6 .0 0 0
5 ,9 5 6 ,3 0 0

$ 7 1 ,5 0 0
1 2 4 .5 0 0
53 .5 0 0
35 .5 0 0
13 0 .5 0 0
90,800

10,857,203 $1,014,512,950

$ 3 5 ,1 7 6 ,3 0 0

$ 5 0 6 ,3 0 0

86 8 ,6 0 1
1 ,6 5 8 ,8 9 2
1,49 2 ,9 0 9
2 ,3 1 0 ,0 0 5
2 ,8 8 1 ,1 4 7
1,645,649

S atu rd ay . . .
M o n d a y ___
T u e s d a y ___
W ed n esd ay .
T h u r s d a y ...
F r id a y .........
T ota l

Sales at
New York Stock
E xchange

Week en d in g D ecem ber 9
1903

1904

$ 2 ,5 0 0
2 2 ,0 0 0
1 ,0 0 0
1 ,0 0 0

$ 2 6 ,5 0 0

J an u a ry 1 to D ecem ber 9
1904

1903

4 ,8 9 1 ,1 4 0
1 7 2 ,5 3 7 ,2 1 0
1 5 3 ,3 9 9 ,0 1 7
1 0 ,8 5 7 ,2 0 3
S to c k s — N o. shares
P ar v a lu e .......... $1,014,512,950 $ 4 6 0 ,0 9 3 ,5 0 0 $16,006,285,550 $14,302,158,150
$ 7 1 ,2 0 0
$ 5 9 3 ,3 0 0
$ 7 1 7 ,1 0 0
$ 2 ,5 0 0
B a n k sh ares, p a r ..
BONDS

G o v e r n m e n t b on d s
S ta te b o n d s .............
R R . an d m is. bonds

$ 2 6 ,5 0 0
5 0 6 ,3 0 0
3 5 ,1 7 6 ,3 0 0

T o ta l b o n d s ___

$ 3 5 ,7 0 9 ,1 0 0

1 7 ,4 7 5 ,5 0 0

$ 6 5 9 ,6 8 0
2 1 ,4 4 1 ,4 7 5
9 4 7 ,9 1 0 ,3 0 0

$ 1 ,1 4 2 ,0 5 0
4 60,600
6 5 5 ,6 0 5 ,4 0 0

$ 1 7 ,4 8 8 ,5 0 0

$ 9 7 0 ,0 1 1 ,4 5 5

$ 6 5 7 ,2 0 8 ,0 5 0

$ 3 ,0 0 0
1 0 ,0 0 0

D A IL Y T R A N S A C T IO N S A T T H E B O STO N A N D P H IL A D E L P H IA
EXCHANGES

Week en d in o
D ecem ber 9
1904

Boston
Listed Unlisted
shares , shares

P h ila d e lp h ia
B on d
sales

JAsted
shares

S a t u r d a y ........ 4 3 ,6 0 4
58,73 6
M o n d a y .........
79,25 4
T u e s d a y .........
W e d n e s d a y . . 92,675
T h u r s d a y ........ 119,211
F r i d a y ............ 84,642

23,461
29,372
44 ,5 5 6
57,949
63,665
29,835

$ 4 2 ,0 0 0
32 .0 0 0
3 4 ,5 0 0
24 .0 0 0
7,000
53 .0 0 0

T o t a l........... 478,12 2

24 8 ,8 3 8

$ 1 9 2 ,5 0 0

4 3 2 ,9 1 2

Unlisted
shares

B ond
sales

10,718 *
21 ,4 6 7
18 ,9 5 4
30,165
31 ,4 0 0
21 ,7 1 0

69,781
1 05,292
79 ,0 9 3
61 ,7 4 4
69,553
47,449

1 3 4 ,4 1 4

$ 6 3 ,2 0 0
2 4 9 ,7 0 0
157,400
1 3 4 ,9 0 0
11 6 ,0 0 0
1 2 1 ,2 0 0

G as Securities
Bid
Gas & El Bergen Co.. 100
62
Grand Rapids Gas—
Iflst 5s 1 9 1 5 ...........F-A § 1 0 1
Hudson Co Gas...........100 104
58 g 1949
See Stock E x c h
Indiana N at & 111 Gas—
1st 6s 1908............. M-N
30
60
Indianapolis Gas......... 50
1st 6s 1920............. M-N §10534
Jackson Gas C o ......... 50
81
5s g 1937.................. A-O § .........
30
Kansas City Gas......... 100
5s 1922 See Stock Ex. list.
88
TfLaclede Gas...............100
If P referred............... 100 Xd5
68
Lafay’ eG aslst 6s’24.M-N
30
Log& W a b V ls t6 s ’25.J-D
Madison Gas 6s 1926. A-O §106
Newark Gas 6s 1 9 4 4.Q-J §136
86
Newark Consol G as.. 100
IJCon g 5s 1948....... S-D §109*2
No Hudson L H 6c Pow—
5s 1938 ......................A-O § 1 0 8
3
IfO & Ind C Nat & IH .100
30
1st 6s 1926.............. J-D
67
Pat & Pas Gas & Elec 100
1 Con g 5s 1949-----M-S §103*2
1
St Joseph Gas 5s 1937. J-J § 91
T elegr &■ Telephone
IfAmerTelegcfe Cable 100
IfCentral & So Am er. 100
Commercial Cable___100
Commer Un Tel (N Y).25
Emp & Bay State Tel 100
Franklin....................... 100
1 Gold 6c Sto ck ...........100
f
114 ^s, 1905 ..............
Hudson River Teleph 100
IfN Y & N J T eleph ...100
5s 1920 See Stock E*
1fNorthwestern Teleg. 50
Pacific & Atlantic....... 25
IfSouthern & Atlantic 25
Electric Companies
Chicago Edison CO ...100
IfKingsCo E lL & P C o 100
Narragan (Prov) El Co 50
N Y & Q El L&PowColOO
Preferred...................100
United Electric of N J100

$ 8 4 2 ,4 0 0

F erry Companies

Outside Securities
A W eek ly R eview of Outside M a rket w ill be fo u n d on a p reced in g page.
Street R ailw ays
NEW YORK CITY

B le e ck S t & E u l F stk 100
1 f l s t m o r t 4 s 1 950 . . J-J
v B’ y & 7 th A v e s tk . . 100
1f2d m o r t 5 s 1 9 1 4 ...J - J
C on 5s 1943 See S to ck
B’ w a y S u rf 1 st 5s g u 1924
2 d 5s in t as re n ta l 1905
flO entT C ro sst’ n s t k .. 100
111st M 6s 1922 ...M - N
I J C e n P k N & E R s t k . 100
IfChr’ t’ r & 1 0 th S t stk 100
Col<fc 9th A v e 5s See S to c k
D ry D E B & B —
If1st g old 5s 1 9 3 2 .. .J-D
IfS crip 5 s 1 9 1 4 ----- F -A
If E ig h th A v e n u e s t . . . l 0 0
IfS crip 6s 1 9 1 4 ----- F -A
U42d & G r S t F ’ y s t k .. 100
42 d S t M & S t N A v . ,1 0 0
111st m o r t 6s 1910 .M -S
112d in c o m e 6s 1915 J-J
I n ter b o r o u g h R a p T r.1 0 0
L e x A v 6c P a v F 5s See St
M e tr o p o l S e c u r itie s See
M e tr o p o l S tr e e t R y See
N in th A v e n u e s to c k . 100
S e co n d A v e n u e stocklO O
If 1 st m o r t 5s 1909 M -N
C o n s o l 5s 1 9 4 8 ____F -A
S ix th A v e n u e s to c k 100
o u B o u le v 5 s 1 9 4 5 ..J-J
S o F e r 1st 5s 1 9 1 9 ...A -O
T h ird A v e n u e See S tock
T a r r y W P < M 5s 1928
fe
Y k e r s S t R R 5s 1 9 4 6 A -0
28th & 2 9 th S ts 1 st 5s ’ 96
IfT w e n ty -T li’ d S t s tk 100
D e b 5s 1 9 0 6 ............... J-J
U n ion R y 1 st 5s 1942 F -A
W e s tc h e s t 1 st 5s ’ 43 J-J

E

B id
32 L
93 '
242
104
E xch
§108
§ 99*s
330
§117
205
177
E xch

A sk
34*2
100
248
107
list
110
101
350
121
210
185
list

110
114*2
99
101
390
405
105
106
405
415
50
70
104*2 107
80
85
163 *2 165
k E x c List
S tk E x lis t
S tk E x list
192
185
208
210
§1 0 2 H 103*2
2
113
§111
172
176
§102
106
§105
108
E x c li list
103
106
§106*2
§112
L14
390
400
96
99
109
112
102
105

BROOKLYN

A tla n A v e 5s 1 9 0 9 ..A -O
C on 5s g 1 9 3 1 ..........A -O
Im p t 5s See S to c k E x c
B B & W E 5s 1 9 3 3 ..A -O
B ro o k ly n C ity s t o c k . .. 10
C on 5s See S to ck E x c h
B k ln C r o s s tn 5s 1 9 0 8 .J-J
B k n H g t s 1 st 5s 1941 A -O
B k ln Q C o < S u b See Stk
fe
B k ly n R a p T ra n See Stk
||Coney Is. 6c B k ly n ..1 0 0
1 st c o n s g 4s 1 9 4 8 ..J-J
B r k C & N 5s 1 9 3 9 . J-J
G r S t& N e w 1 st 5s *06 F -A
G r’ p t & L o r iin e r S t 1 st 6s
K in g s Co. E le v a te d —
1 st 4 s 1949 See S tock
N a ssau E le c p r e f........100
5s 1 9 4 4 ....................... A-O
1 st 4s 1 9 5 1 ............See St
N W b ’ g & F la t 1 st e x 4*28
S tein w a y 1 st 6s 1 9 2 2 . J-J

263:$

THE CHRONICLE.

D e c . 10, 1904. J

§102
110
113
h lis t
104
102
239
243
list
102
104
106
E x c h list
E x ch list
340 350
99 *2 100*2
113
115
100
102
E xch
75
110
k E xc
101
§1 1 8

list

Street R a ilw a y s

B id

A sk

L a k e S t (C h ic) E l s t k . 100
1 st 5s 1 9 2 8 ................. J-J
If L o u is v S t 5s 1 9 3 0 .. J & J
L y n n & B o s 1 st 5 s ’ 2 4 . J -D
N e w O rl R y s C o . . . . . . 100
P r e f e r r e d ................... 100
4*28 1 9 5 2 .....................J-J
N o r th C h ic S tr s t o c k . 100
P u b S e r v C orp o f N J 1 0 0
T r c tfs 2 % to 6% p e r p e t
N o r th J e r s e y S t R y 100
1 st 4s 1 9 4 8 ......... M -N
C on s T r a c o f N J . . . 100
1 st 5 s 1 9 3 3 ........... J -D
N e w ’k P a s R y 5s ’ 30J-J
O r 6c N e w 1st 6s ’ 0 5 A -O
E s s e x P a s 6s 1905 M -N
R a p id T r a n S t R y . . l 0 0
l e t 5s 1 9 2 1 ........... A-O
J C H o b & P a terson lO O
4s g 1 9 4 9 ............. M -N
S o J G as E l & T r a c 100
G u g 5s 1 9 5 3 ........M -S
N o H u d Co R y 6 s’ 14J-J
5s 1 9 2 8 .....................J-J
E x t o s 1 9 2 4 ........ M -N
P a t C ity c o n 6s ’ 3 1 . J -D
2 d 6 s ___ 1914 o p t A -O
R o c h e s te r R y p r e f . . . 100
C on 5s 1 9 3 0 See P h ila
2d 5s 1 9 3 3 ................. J -D
S o S id e E l (C h ic) s t k . 100
S y r a c u s e R a p T r 5s 1946
U n ite d R y s o f S t L —
C om v o t i r c t f s ........100
P r e f e r r e d ...................100
G en 4s 1 9 3 4 . ...S e e S tk
U m t R y s S a n F r a n See S tk
W a s h R y 6c E l C o . . ..1 0 0
P r e f e r r e d ...................100
4 s 1951 .......................J -D
HW e s t C h ic a g o S t ___ 100
HCon g 5s 1 9 3 6 ___ M -N

3*2
§95 *2
113
§112*2
4
24
77
75
135
69
24
79
76
108
§114
§1 0 0
§101
250
109
20
76*2
120
§102
§111
§109
§104*2
§123
§100
100
lis t
103
96
§105

4
1.14
114*2
6
25
79
77
140
70

106
98

23
24
67 *2 69
E x c h list
E x c h list
26*2 28
85
87
85
86
47
51
§ 80

NEW YORK

§108*2
k E xc
E xch
S tk E
300

111
h list
lis t
x lisl
320

§112
113*2
E x c h list
§112
106*2
35
§101
130
155
§110*2

113
OTHER CITIES
h lis t
104
A m e r L ig h t & T r a c t . 100
P r e f e r r e d ................... 100
98*2
B a y S ta te G a s ............. ,50
B in g h a m to n G a s 5s 1938 § 94
OTHER CITIE8
B r o o k ly n U n io n G a s d eb
B u ffalo S tr e e t R y —
6s 1909 c o n v ’ 0 7 . . . M -S 190
1 st co n so l 5s 1 9 3 1 ..F -A §109
5
111
B u ffa lo C ity G as stocklO O
D eb 6s 1 9 1 7 ..............A .O §105
107
1 st 5s 1947 See S to c k E x c h
C h ica g o C ity R y s tk . 100 180
185
C h ica g o G as See N Y S tk E x c h
C h ic U n io n T ra c See S t’ ck E x c h lis t
C o n so l G as o f N J .. .1 0 0
75
90
76 *
h
1 st 5s 1 9 3 6 ................. J-J
98
99*2 C o n s u m e rs’ L H 6c P o w —
P r e f e r r e d ................. .
108*2
o s 1 9 3 8 ........................ J -D §1 1 0
C olu m R y con 5s See Ph ila list
If D e tr o it C ity G a s ..
50
C ro sst’ w n 1st 5 s ’ 33. J
§ 107
E liz a b e th G a s L t C o .. 100 250
G ran d R a p id s R y ___ 100
55
E s s e x 6c H u d so n G as 100 127
60
P r e f e r r e d ................. .
84
90
F o r t W a y n e 6s 1 9 2 5 .. J-J § 58

Railroad
h ie P e o & S t L p ref.
D e p o s ite d s t o e x ___
U n d e p o s ite d s to c k .

C on m tg g 5s 1 9 3 0 . J&J
79 *2
In c o m e os 1 9 3 0 ...............
77
C h ic R I & P a c —R e f g 4s
108*4
1934 op to 1 9 1 1 ....A - O
115
E r ie c o n v 4 s
See S tock
101
IfF o r t W o r t h 6c D e n v e i
C ity s ta m p e d ...........10C
260
N Y C e n t d eb 4s ’ 3 4 .M -N
N o r th e r n P a c if i c .......100
W h e n r e le a s e d .......
77
N o r th e r n S e c u r itie s..
123
P itts B e ss & L E ___
104
P r e fe r r e d ...................
S e a b o a rd A ir L in e —
C o llt r 5 s 1907 o p . . .
105*2

G a s Securities
C e n t U n io n G as 1 st 5 s . ..
C on G as ( N Y ) s t k . See St
C o n v d e b 6s c tfs N^eStk
E q u it G as co n 5s 1932 See
1fM utual G a s ............... 100
N e w A m ste rd a m G a s—
1 st c o n s o l 5s 1 9 4 8 ..J -J
NY" G E L H & P See S to ck
N Y 6c E a st R iv e r G as—
1 st 5s 1 9 4 4 .................J-J
C o n s o l 5s 1 9 4 5 ..........J-J
N Y & R i c h m o n d G as. 100
N o r U n 1 st 5s 1 9 2 7 .M -N
If S ta n d a rd G as co m ..1 0 0
I f P r e f e r r e d ............... 100
i s t 5 s 1 9 3 0 ............. M -N

B r o o k ly n F e r r y stock lO O
B & N Y 1 st 6 s 1 9 1 1 . J-J
C on 5s 1948 See S to ck
N Y 6c E R F e r r y s t k . 100
1 st 5s 1 9 2 2 ............. M -N
N i & H o b co n 5s ’ 46 . J -D
H o b F y 1 st 5s 1 9 4 6 M -N
N Y & N J 1 st 5s 1 9 4 6 . J-J
1 0 th & 23d S ts F e r r y 100
1 st m o rt 5s 1 9 1 9 .. .J -D
IfU n ion F e r r y s to c k .1 0 0
H ist 5s 1920 ........... M -N

114
108*2
107
150
170
112*2

2 d g 4 s J u n e 1 1 9 5 4 ____

industrial and M iscel
A llia n c e R e a lty .
1 A llis -C h a lm e r s .
]
HP r e f e r r e d ____
P r e fe r r e d
P r e f e r r e d ...................10C
A m e r ic a n E le v a t e d .........
A m M a lt in g 6 s 1 9 14. J -D
1 st p r e fe r r e d .............
2 d p r e fe r r e d .............

A m e r ic a n S u r e ty ........
A m e r T o b a c c o ( o l d ) ..
P r e fe r r e d
See bt
A m e r T o b a c c o (n e w )
C om m on (w i ) .........
P r e fd c e r tfs See St
4 s c e r tfs See S to c k
6 s c e r tfs See S to c k
A m T y p e fo ’ rs c o m . ..
P r e fe r r e d ...................
A m e r W r it in g P a p e r .
P r e f e r r e d ...................
5s 1 9 1 9 ........................ J-J
1 P re fe rre d ,
]
•liss C om par
P r e f e r r e d ..

73
100

P r e f e r r e d .............
*2 B ritish c o l C o p p e r.
97
C am den L a n d ..........

195
5*2
list
list

P re fe rre d .
D e b 6 s 1919 op
C e n tu r y R e a lty .

300
129
61

1 st g 5s 1 9 1 7 ............. J-J

$ B u y e r p a y s a c c r u e d in te r e s t, 1 P r ic e p e r sh a r e . { S a l e p ric e , a E x r ig h ts . # E x d lv

i n d u s t r ia l a n d illi s c e !
C om p ressed A ir C o ... 100
C on solid Car H e a tin g 100
103
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105
1f P re f e r r e d .................100
list
C on s R y L tg<fcR efrig. 100
C on sol R u b b e r T i r e .. 100
40
D e b e n tu r e 4 s ...................
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107
C o n t T o b a c d e b 7 s ’ 05 A -O
C ram p s’ S h & E n B ldglO O
103
IJC rucible S t e e l........... 100
31
IfP r e fe r r e d ..................100
C u b a n 6s o f 1 8 9 6 ...............
1]D ia m o n d M a tc h C o. 100
D o m in io n S e c u r itie s . 100
63
E le c t r ic B o a t ................100
40
P r e f e r r e d ....................100
109
E le c t r ic L ea d R e d u c ’ n .50
137
P r e f e r r e d ......................50
87
E le c t r ic V e h ic le ..........100
110
P r e f e r r e d ....................100
E le c tr o -P n e u m ’i c T r a n l 0
E m p ire S te e l................100
5
P r e f e r r e d ....................100
40
IfG en eral C h em ica l ..1 0 0
71
IfP r e fe r r e d ..................100
105
G old H i ll C o p p e r ......... D
92
G r e e n e C on C op See B ost
G r e e n e C on sol G o l d . . . K
H a c k e n s a c k M ea d ow s 100
89
93
H a c k e n s a c k W a te r Co—
1 1 6 3 L19
4
R e f g 4s 52 op 1 2 . . . J-J
H aU S ig n a l C o ........... 100
115
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78
82
P r e f e r r e d ....................100
47
52
H a v a n a T o b a c c o C 0 ..I O 0
121
124
P r e fe r r e d .....................100
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98
1 st 6s 1 9 2 2 ................ M -S
165
170
H e rrin g -H a ll-M a r v m l0 (
ch a n g e list
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124
12 8
2d p r e fe r r e d .............. 100
80
82
H o b o k e n L a n d & Im plOO
100
103
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169
L70
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200
I n t e r n a t ’ lB a n k in g C o lO O
94
98
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62
67
P r e fe r r e d ....................100
92
96
C ol t r d e b 4 Hal922op,07
25
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76*2 77
1 st g 5 s 1 9 5 1 ....................
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6
0*2
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106
108
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E x c h list
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77
85
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90
§ 87
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§109
111
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40
60
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32
30
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93
90
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M e r g e n t’ le r - H ’ n B sk t. 1
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4*2
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88
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21
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1 P r e fe r r e d ..................100
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99 58 1 0 0
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150
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37
t 34
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78
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99
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45
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91*4 92
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42*2 43
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115
125
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17
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65
70
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159*2
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11
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60
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120
123
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95
100
S ta n d a rd C o u p le r com lO O
......
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103
104
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90
100
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2
4
5 s ..........................................
63
68
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14
11
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180
185
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2 50
500
1 s t 5s 1 9 1 0 -1 9 1 4 ....J -J
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250
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40
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95
100
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4 34
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82
83
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......... 2 0
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122*2
140
150
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130
145
P r e f e r r e d ....................100
l 390
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130
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92
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101
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105
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80
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103
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Dec. 3

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Dec. 6

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U anye tor Year
1904
Lowest

H ig h est

804
103
253
154
N o v ’ 04
175
O c t ’ 04

A li n i n g

6 *2

64

6

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1 7 58 1 9 7s
7 0 78 80*4

6*2

64

Sales
Of tht
Week
Shares

I t a iir u u d n
M a r l4 89*4 N o v 2 6
A t c h T o p & S a n ta FeXOO 4 ,4 2 3 64
2 76 8 8 J a n 7 104*4 N ov2C
102*2
D o ]>ref................. 1 0 0
184 230% J ’ u e 7 254
D ec 1
254
B o sto n < A lb a n y ___ 100
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303 j: 137 F e b 6 155 N o v 17
164
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230 M a r l ] 242*2 N ov 6
B o sto n & iv o w e ll........100
,
235 158
A u g 3 175 D e c f175
176
B o s to n <& M a in e ........100
L a s t d a l e 17U
166
A p r lO 174 O c t 7
D o p ref
..........100
40 295
F e b 24 303 *2 D e c 2
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.........
B o sto n & P r o v id e n c e LOO
2 2 2 136
148
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C h ic J u n c K y < U S V 10 0
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125
D o n rer
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180 J ’ n e l4 186 N o v l 7
L a s t d a l e 185
A p r 0 162 *2 J a n 4
1 2 160
C on n Ac B ass R iv p r e f 100
O c t *04 C o n n e c t ic u t R i v e r . .. 100
L a s t d a l e 283
276
J a n 25 235 J ’ n elO
17 133 J ’ n e 6 142 N o v 2 3
139 139
139*4 139*4 F it c h b u r g p r e f ............1 0 0
330 24 *4 J a n 2 56
55
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55
G a R y <fc E l e c t r i c ----- 100
115 73 J a n 27 84
D ec 6
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IO
Do p ref
*83
85
M a r ’ 03 H o u s to n E l’ t r i c c o m . 1 Oo
L a s t d a l e 42
L a s t d a l e 179*2 N o v ’ 04 M a in e C e n tr a l
170 J ’ n e 7 175 A p r 2 6
___ 100
180 11 * S ep 10 24 J a n 21
4
14
14
14
14*4 M ass E l e c t r i c C o s ___ 100
465 52 *4 O c t 24 80*4 J a n 27
62
62
6L
61
D o p r e f ................. 100
50
20
20*4
5 A p r 25 23*4 N o v 2 2
653 185 M ay 2 5 199 O c t 22
195
196
195
196*2 N Y N H <fc H a r t . . ..1 0 0
165
A u g ’ 04 N o r th e r n N H ........100
159 A u g 2 4 163 *2 A p r 7
1 222
J a n 29 232 A p r 21
2 3 2 232
N o r w ic h & W o r p r e f 100
16 198 J ’ n e l3 207 A p r 21
204
204
* 2 0 4 205
O ld C o lo n y ....................100
L a s t d a l e 74
N o v ’ 04 Pp.Tft M a r q u e tte
74 J 'l y 26 80*2 F e b ]
...1 0 0
68
M a r l7 79 *2 N o v 2 5
L a s t d a l e 79*2
D e c ’ 04
D o pref
__ ____100
1,402 29 A u g 12 73 D e c l
•50
64
Last dale /5 *
4
O c t ’ 03 S a v a n n a h Elec, co m TOO
4 0 J a n 15 42
F eb 3
L a s t S a l e 40
N o y ’ 04 S e a ttle E le c t r ic
__ 1 0 0
94
94
186 87 -4 M a y 25 9 5 *2 J ’ ly b
*94
95
D o p r e f ................. 100
106*2111*4 110*4 111*2 U n io n P a c i f i c ..............100 7 ,1 5 4 7 13b M a i 14 116 78 N 0 v 21
8 8 8 6 *4 M a r 1 9 5 34 D e c 5
Do p r e f
_____100
94*2 94*2
160 M a y l 6 173 N o v 2 2
L a s t S a l e 173
N o y ’ 04 V e r m o n t Ac M a ss . . 1 0 0
2 0 1 89
J a n 4 93 M a r l 6
92
92
92*4
92*4 W e s t E n d S t ................ 50
1 2 108 J a n 4 113*8 A p r 26
113
*113
.......... 113
D o pref
50
L a s t S a l e 76’ 78
A u g ’ 04 W is c o n s in C e n t r a l__ 100
16*4 J ’ ly 27 17 *2 F e b 2 6
37*2 J ’l y 27 40*4 J ’ly 18
Last Sale 3 ? i
Do n ref
__!()()
A u g ’ 04
D e c 8 146 *2 D e c 2
1 143
143
143
W o r c N a s l y f c R och. 100
M is c e fla n e o u s
22*2 23
23
23*2 A.mer A g r i c u l C h e m .1 0 0 19,517 12 *2 A p r 14 2 4 *2 D e c 5
D ec 6
8 5 34
86*2
85
85
D o p r e f ................. 100 1,779 71 J a n 5 87
3 *2 F e b 4
6 ^ N ov 5
80
5 *2
5 *2 A m e r P n e u S e r v ........ 50
5*2
5 *2
*
245 17 F e b 27 27 * 2 S ep l e
25
25
25
25
D o p r e f ................. 5 0
137
142
140*2 143*4 A m e r S u g a r R e f in ___ 100 2 0 ,6 9 3 1 2 2 *2 F e b 24 152 *4 N ovJ 8
2
8 28 1 2 2 * J a n 5 141 N o v l 7
* ..........138
138
138
D o p r e f ................. 100
141
145*2 145
146*2 A m e r T e le p & T e le g .1 0 0 6,147 119*4 F e b 19 149*4 N o v 2 9
2
9 F e b 19 24 * N o v 21
20
21
20*2
22
A m e r W o o l e n ............. 100 6,747
9 L*2
93
88*4 92*2
D o p r e f ................. 100 3 ,9 9 7 68*2 J a n 19 9 4 34 D e c 5
3 X ov2 H
4 S ep 23
Last Sale 3
N o v ’04 B o sto n D an d
__
10
3 00 L12*2 J a n 15 1 2 1 34 D e c (
*122
1 2 2*2 * 1 2 2
122*2 C u m b e r l T e le p & T e l 100
7*4 J ’n e l 3 19 *4 N o v 12
17
19
17*2
18*4 D o m in io n I r o n < S t ........ 3 ,0 3 8
fe
5*2 J a n 23
7*4 O c t 12
25
*6 *2
7
*64
7 * E a st B o s to n L a n d ..............
A ug22
253
253
253
253
80 230 F e b 26 26 5
E d iso n E le c I l i u m . . . 100
£
312 0,151 J ’n e 2 ‘ 194 N o v 2 v
183 *2 183 *2 1 8 5 7
g 187
G e n e r a l E l e c t r i c ........ 100
3 8 3s 3 8 3
4
38*4
38*2 M a ss’ cliu se ttsG a sC o slO O 3 ,2 1 8 3 7% M a r io 44 *4 A u g 18
1 ,542 7 7 34 M a r l 4 8 4 34 O ct 25
8 0 3s 81
81
81
D o p r e f ................. 100
* ..........198
198
65 173 J ’ n e 2 2 0 0 N o v 28
* ..........
M e r g e n tlia le r L i n o . . 100
2 34 N o v 19
1 *8 A p r 30
2
2*4
2
2
M e x ic a n T e le p h o n e .. *0 2 ,030
138
138
* ..........
138
N E T e le p h o n e
_l()i»
99 118 F e b 23 141 N o v 3 o
Last Sale 1
*2 O c t 11
4 J a n 28
N o v ’ 04 P la n tC o m t ’ s t s t k c o m 100
L a s t L a s t 12
8
O c t 10 17 J ’ ly 1
N o v ’ 04
238 238
237
237
373 •208 M a r 15 243 N oV 2 9
P u llm a n C o ................... 100
6*2 J a n 19
9 N ov21
L a s t S a l e 8%
D e c ’ 04 R e e c e B u t t o n - H o l e .. 10
O c t 10
*112
112*2 112*2
112*2 S w ift & C o ................... 100
324 £ 9 9 34 M a r 21 116
L a s t d a c e 2 9 *2
22*2 J ’ ly 18 22 *2 J ’ l y 18
O c t ’ 04
2 4 *2 O c t 21 2 6 N o v i 6
L a s t S a l t 25 *2 N o v ’ 04
Do p ref
.
25
5 O ct 29
2
J an 1 6
*4
4*2
*4
4H U n io n C op L ’ d Ac M g . 25
100
104*2 106
F e b 8 113 J ’ n e l o
105*2 1 0 5 3 U n ite d F r u i t ................10U 1,588 95
4
58
58
59
59
U n ite d S h o e M a c h .. . 25 1 ,0 7 8 45*4 F eb 2 G 61 N o v 22
O c t 20
31*4 31*4
31*4
31*4
D o p r e f ................. 25
319 2 8 J an 28 32
6 *2 M ay 12 20*8 D e c 9
1 8 34
20*8 U S L e a t h e r ................. 100 6 ,945
1 6 58 18*2
7 77
J a n 16 101 D e c 8
101
101
Do pref
100
L a s t d a he 3 4
1 0 34 F e b 6 34
N o v lb
N o v ’ 04 T S R u b b e r ............... 100
T
D o pref
100
16 40* 2 J a n 6 9 2 34 D e c 5
M ay 13 33 * D e c 6
2 4 4 29 *s
27 *2
29 *2 U S S te e l C o r p ............100 46,363
84
9 0 *2
8 7 34
9 1 5b
D o p r e f ................. 100 2 7 ,7 7 0 5l*8.jyLayl3 9 5 *2 D e c 3
•50 A p r 12 •75 J a n l 4
L a s t S a l t ‘6 0
N o v ’ ()4 W est, E n d La/nO
25
6 *2 J ’ n e 3 23 V; N o v i 4
21
21
21
21
W e s t T e le p Ac T e le g .1 0 0 1,205
100
100
100
100
D o p r e f ................. 100
173 76 M a r 14 101 L e e 5
D ec 5
85
85*2
89
89
W e s t in g E l Ac M f g . . . 50
245 7 5 34 J ’ n e2 8 93
J a n 15
*95 100
*95
100
D o p r e f ................. 50
10 190 % A u g 8 1 0 0

87*0 8 8 4
83 4
85*2 87
8 3 as 8 8 4
10:J;1 1 0 3 7* 1 1*3*4 lo3 *\ 103*4 I03*v 103 % 1033b 102*8
4
2 5 134 252
2 5 2 4 2 5 2 4 2 5 2 *2 254
*2 5 2
251 255
154
154
154
154
164 154
154
151
15-1
......... > 2 4 2 \ i......... ♦242*2
•242 V .........
hast
172
172 * 173
2
176
170 171
171
170
170
88*8

STOCKS
BOSTON STOCK
EXCHANGE

A d v e n t u r e C o n ............ 25 1 .8 3 5 •75 A u g 3
18
1 8 58 A l l o u e z ........................... 25 8 ,6 0 8 ci3ai s M a r 8
68
63*2
00% A m a lg a m a te d C op p erlO O 117,350 4 3 F e b 8
•75 M a r 21
L a s t S a l e •7.5
TT
V jii*,(ld A m e r G o ld D red a in sr
5
8
F e b 23
1 2 34
13
A m Z in c L e a d «fe S m . 25 2 ,2 2 5
12*2 12*2
l o ^ F e b 24
L a s t Sal*'. 28%
D e c ’ 04
A r c a d i a n ....................... 25 1,084 •25 F e b 2
* 1 34
2
14
14
*•75
1
1
1
A r n o l d ........................... 25
50 •20 J ’l y 2 b
7 F e b 11
15
16V
17
1 7 v A t l a n t i c ......................... 25 4 ,8 6 5
2
33
3 4 7b
B in g h a m C o n Mm<& S 50 16,871 19 M a r 2
34*2
35
*•70
*30
•75
-75
B o n a n z a (D e v C o ) . . . 10 1 ,6 0 0 •39 M a y l 4
6
O c t 27
6 34
7
6 7s
7 B o s t o u C o n C & G ( r c t s ) £ l 8 ,0 0 5
J an 4
655 655
650
665
C a lu m e t Ac H e o la ___ 25
1 2 8 435
•05 A p r 23
2u
N o v ’04 O fltulpa (S ilv e r ) ___ 10
24
26 ’
C e n t e n n i a l .................... 25 9 ,5 1 5 d 14 *2 F e b 8
25*2
27
6 7e J ’l y 25
7
7 C e n tr a l O il................... 25
20
•34
*34
C o n s M e r c u r G o l d .. .
5 1 ,7 5 0 •20 J ’ ly 15
•33
33
7 *2 A p r 5
. 25
L a s t Sa L( 11
N o v ’ ()4 C o n tin e n ta l Z in c
64
71
6 9 34
72 *2 C o p p e r R a u g e C o n C o lO O 8 7 ,2 0 5 3 8 F e b 23
12*2 12*2 X 12 34
1 2 34 D a l y - W e s t ................... 20 2 ,5 7 6 1 0 34 A u g 1
J ’ n e2y
63
63
D o m in io n C o a l............ 100
* .......... 65
6 0 40
103 J ’ ly 6
Do p r e f _____
.1 0 0
L a st Sale
1 34 J ’ iie27
E lm R i v e r ..................... 12
•2 *2
3
*2*2
3
295
7 J ’ ne 2
*10
11
F r a n k lin ......................... 25 1 ,0 5 0
11
11
2 % M a i-lb
43
4
5 *8
5
5*4 G r a n b y C o n so lid a te d . 10 3 7 ,9 3 0
O c t 19
3 3 *2 34*2
33
34*2 G r e e n e C o n s o lid a te d . 10 58,721 2 0
3 38
3 re
>
5 2 ,3 1 0 ■62*2 F e b 15
3 58
3 34 G u a n a ju a to C o n s o l ..
6 *2 M ay 21
20
24
24*2
2 7 7 I s le R o y a le (C o p p e r ). 25 12,546
e
8
8 s8
8*4
9*ft M a ss C o n s o l................. 25 2 ,5 4 5 d 3 F e b 25
*1
1*2 M a y flo w e r ..................... 25
425 •45 J ’ly 15
l l4
1*4
3*2 J ’ u e lu
M i c h i g a n ....................... 25 1 ,6 3 0
8*4
9
8 34
9
51
62
52
53
M o h a w k ......................... 25 3,075 34 *8 F e b b
2*4 J a n l o
4
430
438
4 34 M on tan aU oa!< fc C o k e 25 10,069
•40 J ’ ly 5
L a s t Sa l e. 1 *«
B o s to n o t f s ..
5
O c t ’ 04 M o n t
O ld C o lo n y ................... 25
42 5 •50 J ’ n e 9
*1*4
1 34
* 1*2
2
9 *4 F e b 9
24*2 26
O ld D o m i n i o n .............. 25 9 ,3 0 0
26
27
90
03
93
93*2 O s c e o l a ........................... 25 4 ,4 6 9 53 F e b 8
P a r r o t t (S ilv Ac C o p p ) 10 2 ,7 4 5 2 u34 F e b 1
25*2 27
26*2
28
P h m n ix C o n s o l............ 25
2 34
2 34
435 d ’o 0 A u g 9
*2*4
3
99
100
139 bU F e b 25
110
110
Q u i n c y ............................. 25
R h o d e I s l a n d .............. 25
46 0 •50 M ay 2 3
1 38
1 °ft
* 1*2
2
l *8 J ’ n e 2 4
24
2*2
2*2
9*2 S a n ta F e (G o id < fc C o p ) 10 2,360
3 H A u g 1-2
i
6 7a
8 *2
8*4
8 78 S lia n n o h ......................... 10 12,783
120
120
T a m a r a c k ..................... 25
120
120
195 8 0 M ay 31
3
3
3
3*4 T e c u m s e h ..................... 25 1 ,2 )5 •25 J ’ neJU
35
37*8
37
3 8 *2 T e n n e s s e e ..................... 25 3 ,9 5 0 34 N o v 16
3 34 M a i 25
9
12*2
12*4
13% T r i n i t y ............................. 25 3 2 ,3 5 1
6
M a il 9
Last Sale 6
.1 0 0
M a r ’ 04 U n ite d C o p p e r .
24*4 2 6 34
25*2
26°s U n i t e d S t a ie s M i n i n g 25 5 4 ,6 5 5 1 8 J an 4
8 *8 J a n 4
U n it S ta te s C oal A O il 25 1,605
11
11
1L
11*2
Jan 2
40
43 *
2
U ta h C on ( G o l d ) ........
5 2 3 ,8 3 2 30
42 *2
44
2*8 J ’ n e l l
440
4 *4
4*2
4°a
± 5b V i c t o r i a ......................... 25
F e b 23
10
11
11
1 1 34 W i n o n a ........................... 25 3 ,9 J 1 5
967 69 J a n 5
104 105
105
105
W o lv e r in e .................... 25
2
2*4
W y a n d o t ....................... 25 1 ,1 9 0 •50 F e b 23
1 78
2
5*2
17
60

5*2
18

6

6

7 78 N o v l l
121 N o v l 5
8 2 34 D e c 1
1
M a r io
1 4 O c t 14
2 9 34 N o v i 6
3 ” N o v 14
1 *2 N o y 14
22*4 N o v 12
38-4 N o v 2 2
l a16 N o v i 5
7 78 N o v l 7
700 N o v i 6
*25 N o v 18
| 3 2 34 N o v l l
10 M ay 20
•75 J a n 5
14 O c t 18
74 *2 N o v lb
36 J an 2
72 J a n 2
116 N o v 3 o
4 N ov 2
15 *2 N o y 12
51*16 N o v i 8
34 *2 D e c 6
5 D ec 1
35*4 N o v l l
f 9 78 F)ec 3
2 N o v l2
11 N o v l 4
57 *2 N o v l 8
A ug30
l^ ^ ^ P 6
2 % N o v l4
29 l4 D e c 5
98 N o v lb
33 *2 N o v l 8
f5
N ov i 1
125 N o v l S
3 N o v ii
3 l2 N o v l l
l 0 34 N o v 2 b
140 N o v lU
4*4 N ov 29
43 *4 D e c 0
18 H N o v i 2
i
6
M arl 9
2 8 34 D e o 1
1 2 j4 N o v l S
47 N o v lb
6 ,3 N o v l 4
8
1 3 - \ N o v i2
110 N o v 2 9
f 3 N ov 7

Uange /or P reviou s
Y ea r( 1903) [
Lowest

H ighest

54 *4 A u g
85 A u g
244 J ’ n e
134 A u g
230 A u g
161 J ’ ne
170 J ’ n t
290 J ’ly
133 S ep
110 N ov
184 N ov
160 Jan
270 A u g
131 J ’ ly
25 O c t
75
D ec
42 M ai
173 *2 May
17 N o v
75
D ec
8 ^b N ov
tl 88 H M ay
i
161*4 D e c
220 S ep
196 A u g
7 4 J ’ ly
68
S ep
3 0 J ’ ly
7 J ’ly
75 JaD
91 *2 O c t
6 6 34 A u g
83 *2 O ct
£162 S ep
87 *2 A u g
108 S ep
15 Hi N o v
3 8 H J ’ly
L44 S ep

8 9 7g Jan
103*4 Jan
262*2 F e b
154 Jan
25u A p r
195 Jan
177 A p r
305
M ar
157 Jan
125 J a n
196 *2 M ar
170 M ar
2*6
F eb
143 4 F eb
39 4 J a n
83 4 J a n
42 M a r
180 F e b
3 7 34 F e b
96 J a n
2 8 50 A pr
225 'J a n
173 4 M a r
232 M a r
2 1 2*2 F e b
91 M ay
85 J a n
71 Jan
25 J a n
8 4 34 J a n
104*2 J a n
104*2 J a n
95 J a n
17 8 F e b
97 F e b
116
Feb
2 6 ^ Jan
52 J a n
150 J a n

9 N ov
60%2 N ov
3 Sep
12 S ep
lO ? ^ O ct
116 A u g
L14*2 O ct
6 34 O ct
65 O ct
3*2 J ’ ly
115 O c t
6 *2 N o v
0*2 O c t
223 D e c
138 S ep
3 0 J ’ly
74*4 J ’ly
1 6 4 34 A u g
1*8 O ct
121 N o v
9 A pr

26

F eb

86*4 F e b

7 M ar
24
M ar
134*4 J a n
123 4 D e o
169 4 F e b
1 4 78 F e b
7 9 *4 J an
5 34 J a n
127 J a n
62*4 J a n
8 3 Jan
4
3 10 F e b
2 04 F e b
4 8 34 F e b
8 3 70 F e b
190 F e b
2 4 Jan
139 J a n
20 Jan

L97

J ’ ly 2 37 JAn
10 F e b
99 J ’ ly 132 J a n
25 J ’ ne 2 6 34 J a n
2 8 J ’ly 2 9 34 J a n
1 34 J a n
5 A pr
91 A u g i l l
Jan
38*2 O ct
53 J a n
27 A u g 3 1 4 F e b
7 Sep
15 4 F e b
7 l 34 O ct
9 5 4 M ay
9 O ct
18 *2 F e b
33 J ’ly 57 4 J a n
10 N o v 39 7 F e b
s
4 9 34 N ov 89 5s J an
•50 J a n •80 M a r
7 *2 N ov 2 8 J a n
71
O ct 102 F e b
67
O ct 10 8 F e b
S 034 O ct 11 0 J a n
6*2 D e c

2

D ec

3*4 J a n
3 3 34 O ct

•50

F eb
Jan
1 5 58 J T y
•75 S ep
•25 A p r
7 O ct
20 D ec
•40 D e c
6

400

J ’ly
F eu
12 J ’ ly
5 3 Sep
4
*35 N ov
10*2 S ep
37 J ’ ly
31 N o v
59 H O ct
i
106 O ct
2 O ct
7 J ’ly
J 34 J ’ly
•08

•50

D ec

0 *4 J ’ly

3 J ’ ly
•50 D e c
43 D ec
*
31 J ’ly
2 N ov
•55 N ov
•50 J ’n e
5 O ct
43H|J iy
16 J ’ ly
2 7e D e c
80 O ct
•75 N o v
1 J ’ly
7 D ec
75 J ’ ly
•25 N o v
1 7 34 J a n
4*4 J ’ly
4 D ec
1 6 *4 J ’ ly
8
D ec
22 Jan
1 H D ec
i
5 *2 J ’ly
61 J ’ ly
•75 O c t

18 Jan
8 4 M ar
75*8 M a r
1*4 F eb
1 2 34 M a r
3 1 4 F eb
6 4 F eb
•95 M a r
14 4 F e b
39 4 F eu
•90 M a r
551 M a r
TO
FeU
3 L 78 F e b
9 4 J ’ iy
12732 Jail
16 M a r
75
F eb
4 8 4 M ay
131 '8 J a n
1 1 8 4 Feb
5 M ar
14 FeU
5 4 A pr
3
174
18
24

Jan
FeU
F eb
J an
1 1 4 I eb
58 F e b
8
M ar
2 4 Jan
2 4 F eb
23 4 F e b
79
F eb
34
Feb
7 4 F eb
126 4 F e b
4 F eb
3 Jan
14 's A p r
190 F e b
1^10 F e b
3 3 ‘j4 M a r
14 F e b
3 1 34 J a n
27 4 F e b
17 M a r
3 3% M ay
9 t eb
1 1 4 34 -uar
77 M a r
2 7g M a r

b Beforepay’t of assess’ta called in 1903. d Before pay’ t of assess’ ts called m 1904. * B id And asked. \ N ew stock. f A s s ’tpanl. f E x - n g h t s . aE x-d iv.& righ ts.
\

BONDS
BOSTON STOCK E X C H ’GE

W ee k E ndemg D ec 9

B id

A m B e ll T e le p h o n e 4 s ___ 1908
A m T e le p So T e l co ll tr 4 s . 1929
A tc h So N e b ra s k a 1 st 7 s .. 1908
A tc h T o p So S F e g e n g 4 s . . 1995
A d ju s tm e n t g 4 s X .. J ’ ly 1995
B o s to n E le c t L ig h t 1 s t 6 s . 1908
C on sol 5 s .............................1924
B oston So L o w e ll 4 s ............ 1907
B oston So M a in e 4 V s .......... 1944
Im p r o v e m e n t 4 s ......... ... 1905
B ost So M o n 3d iss u e 7 s . . . 1904
B oston T e rm in a l 1 st 3 V s - 1947
B ur So M o R iv e x 6 s ............ 1918
N o n -e x e m p t 6 s ..................1918
S in k in g fu n d 4 s ................1910
B u tte So B o s to n 1 st 6 s -----1917
C edar R a p So M o R 1 st 7 s. 1916
2d 7 s ......................................1909
C en t Y e r m t 1 st g 4 s ..M a y l 9 2 0
C h ic B u r l So Q e x te n d 4 s . 1905
I o w a D iv 1st 5 s ................1919
Io w a D iv 1st 4 s ............ ..1 9 1 9
D e b e n tu re 5 s . ............ .. .. 1 9 1 3
D e n v e r E x te n 4 s .............. 1922
N eb ra sk a E x t e n 4 s ........1927
B So S W s f 4 s ....................1921
Illin o is D iv 3 V s ................ 1949
J o in t b o n d s See G t N o r th e r n
C h ic J c R y So S tk Y d s 5s .1 9 1 5
C oll tr u s t r e fu n d in g g 4 s l9 4 0
Ch MU So S t P D u b D 6 s . . 1920
Ch M So S t P W is V d iv 6 s l9 2 0
C h ic So N o M ic h 1 st g u 5 s. 1931
C h ic So W M ich g e n 5 s . . . . 1921
C o n co rd So M o n t c o n s 4 s .. 1920
C on n So P a ss R 1 st g 4 s . . . 1943
C u rre n t R iv e r 1 st 5 s ......... 1927
D e t G r R a p So W 1 st 4 s . . . 1946
D o m in io n C oal 1 st 6 s ........1913
E a ste rn 1 st g old 6 s .............. 1 9 0 6
F itc h b u r g 4 s ......................... 1915
4 s ........................................... 1927
F r e m t E lk So M o Y 1 st 6 s . . 1933
U n sta m p e d 1 st 6 s ........... 1933
G t N o r C B <fc Q c o ll tr 4 s 1921
R e g is te r e d 4 s . . . ................ 1921

Week's
R ange or
Last Sale

P rice
F rid a y
D ec 9

*•2

-j
j -j
M-S

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

J -J
J -J
A-O
J -J
J -J
M-N
J -D
J -D
A-O
A -O
A-O
M- S

M -S
M- S

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

102 Sale
93% Sale

3

99 V
99 V
95V
96
110 O c t ’ 04

102

9 7 V 100
21 8 8 V 97 V
109 110
13 97 V 102 V
5 87
97

102V

93%

9 3 34

1 1 0 F e b ’ 04
104 V A p r ’ 00
11 7
F e b ’ 04
99 V J a n ’ 02
101 M a r ’ 03
112 V Jan ’ 03
1 1 2 V O c t ’ 04
113V
1 0 0 V S ep ’ 04
100
99V
99V
99V
100 J ’ n e ’ 01
1 2 9 V ....... 1 2 9 V S e p ’ 04
1 1 3 ........ . 1 1 7 V F e b ’ 03
80V
82
8 2 Sale
100 S ep ’ 04
107 J a n ’ 04
1 0 0 V F e b ’ 04
105 J ’ u e ’ 04
100 V 100 V
106 V D e c ’ 02
9 9 V N o v ’ 04
98
94 S ep ’ 04

....

UO

110

....

117

117

112 113
LOO V 102
” ‘ i 99
99V
...

19

....

—

128

129V

78
82
99 V 100
100V 100v
104
L05
9 9 V 1 00V

98V
90V

2635

BON DS
BO STO N STOCK E X C H ’GE
W e ek E nding D e c 9

Range
Since
0*0
J an u a ry 1

H ig h JSo Low H ig h

Low

A sk

9 9 78 Sale
9 6 Sale

j

Bond Becord.

99 V
94

1 0 5 V 109
1 0 7 V 107 N o v ’ 04
97 100
99 V N o v ’ 04
125 V J ’l y ’ 04
125
1 2 4 V 125 V
123 V A p r ’ 04
124%
123 V 124 V
” 2 100
108
105
105
105
2 105 V 108 V
iOcS
108 V
108
109 V M a r’ 02
112 V J a n ’ 03
100 N o v ’ 04
io o
i o 'i v
*6 95 1 0 0
98
98
9 8 100
105 V 109
107 ....... 107 V N o v ’04
103 ........ 103 V N ov ’ 04
103V 104V
102 V 103
102 V A p r ’ 04
1 1 1 V M ay’ 02
138 ........ . 137 V A u g ’ 04
137 1 3 7 V
137 F e b ’ 04
137 137
138
9 7 34
9 8 V ” 30 90
99V
9 8 V Sale
9 8 V N o v ’ 04
9 0 V 98V

ln t[s t
Period

Boston

D eo. 10, 1904.]

Illin o is S te e l d e b e n 5 s . . . . 1910
N o n -c o n v e r t d e b e n 5 s . . . 1913
l a F a lls & S io u x C 1 st 7 s .. 1917
K a n C Clintfc S p r 1 st 5 s . . . 1925
K a n C F t S So G u lf 1 st 7 s .. 1908
K a n C F t S c o tt So M 6 s ___ 1928
K a n C M So B g e n 4 s ........... 1934
A s s e n te d in c o m e 5 s ........1934
K a n C So M R y So B r 1 st 5 s l9 2 9
K a n C S t J o & C B 1 st 7 s .. 1907
L R & F t Sm i d g r 1 st 7 s . . .1 9 0 5
M a in e C en t c o n s 1 st 7 s . . .1 9 1 2
C on s 1 st 4 s ......................... 1912
M ara H o u g h So O n t 1 st 6 s. 1925
M e x ic a n C e n tra l co n s 4 s .. 1911
1 st c o n s in c 3 s ........... J a n 1939
2d co n s in c 3 s ........... J a n 1939
M ich T e le p eon s 5s tr r e c .1 9 2 9
M in n e G en E le c c o n g 5s 1929
N e w E n g C ot Y a rn 5 s ___ 1929
N e w E n g T e le p h 6 s ........... 1906
6 s ........................................... 1907
6 s ........................................... 1908
5 s ........................................... 1915
N Y & N E n g 1 st 7 s ........... 1905
1 st 6 s .................................... 1905
O ld C o lo n y g old 4 s .............. 1924
O re g R y So N a v c o n g 4 s .. 1946
O re g S li L in e 1 st g 6 s ........1922
R e p u b Y a lle y 1 st s f 6 s . . . 1919
R u tla n d 1 st c o n g e n 4 V s . 1941
R u tla n d -C a n a d ia n 1 st 4 s 1949
S a v a n n a h E le c 1 st c o n s 5s. 1952
S ea ttle E le c 1 st g 5 s ..........1930
T o r r in g to n 1 st g 5 s ........... 1918
U n io n P a c R R So 1 g r g 4 s . 1947
1 st lie n c o n v 4 s ..................1911
U n it e d F r u it c o n v g e n 5 s .1 9 1 1
U S S te e l C orp 10-60 y r 5 s. 1 9 63
W e st E n d S tr e e t R y 4 s -----1915
G o ld 4 V s ...............................1914
G o ld d e b e n tu r e 4 s ........... 1916
G old 4 s .................................. 1917
W e s te r n T e le p h So T e l 5 s . 1932
W is c o n s in C e n t 1 st g e n 4 s l9 4 9
W is c o n s in V a lle y 1st 7 s .. 1909

J -J
A-O
A -O
A-O
J-D
M-N
M-S
M-S
A -O
J -J
J -J
A-O
A-O
A-O
J -J
J ’ ly
J ’ ly
j -j
J -J
F -A
A-O
A-O
A-O
A -O
J -J
J -J
F-A
J-D
F -A
J -J
J -J
J -J
J -J
F-A
M -S
J -J
M-N
M -S
M-N
F -A
M-S
M-N
F -A
J -J
J -J
J -J

N o t e —B u y e r p a y s a c c r u e d in te r e s t in a d d itio n to th e p u r c h a se p r ic e fo r a ll B o s to n B o n d s.

co
"S-w
R ange
Since
©o
23 G J an u ary 1
r

Week's
R a n g e or
Last Sale

Price
F rid a y
D ec 9

H igh .Vo Low H ig h
2 96
100 V 100 V
100V
2 9 3 3 101
4
100V
100V
1 2 8 V J ’ n e ’ 04
128 1 2 8 V
100 V O ct ’ 04 - • . - 97 100 V
2 107 V I 10
10SV
108V
125
125 V 10 117 1 2 5 V
97 N o v ’ 04 . . .
92
96V
1 81
91V
91V
92 V
102 V D e c ’ 04
102 V 104
106 V N o v ’ 04 . . . . 106 V 108 V
100 V Nov*04 __ 1 0 0 V 101%
120 V S e p ’ 04 .... 1 2 0 V 1 2 2
102 J ’ n e ’ 03
118 M ay’ 04
118 118
7 6 V N o v ’ 04
58V 76V
25 N o v ’ 04 __
13
25
16 V N ov ’ 04 . . . .
6 V 16 V
75 J ’ n e ’ 03
102 V A u g ’ 04
102 V 102 V
97V
95V
9 6 V 35 93
102 V O c t ’ 04 . ... lO lV 102 V
103 A u g ’ 04
102 103
103 A p r ’ 04 . . . _ L0 2 V 1 6 4 V
106 V M a r’ 03
3 100V 102V
100V 100V
LOO
100
1 100
101V
104 V J ’ n e ’ 04
104V 164V
1 0 1 V J ’ n e ’ 04
101V 1 0 1 v
121 J ’ l y ’ 04 __ 120V 121
103 V A u g ’ 04
103 V 103,5*

A sk Low

B id
100

10 1

1 08
124 V
97
91V
104
106

.........
.........
.........
92 V
.........
.........
.........

100

.........

95%

76

96V

1 0 0 V .........
100
.........

102 M a r’ 02
96 N o v ’ 04
.......... 95
103 ......... 103 V N o v ’ 04
107 F e b ’ 03
104 N o v ’ 04
i 15 V N o v ’ 04
109 Sale 109
109
4
80 V S ep ’ 04 ••••
102 V S e p ’ 04 . . . .
105 V M ay’ 04 __
102% A p r ’ 03
102 V O ct ’ 04
1 0 2 V S ale 1 0 2 V
1 0 2 V 17
87 V J ’ l y ’ 01
l l l V D e c ’ 04 . . . .
1 1 1 V ..........

* N o p r ic e F r i d a y ; la t e s t b id a n d a sk ed .

91
100

96
103V

100 V 1 0 5 V
94 1 1 5 V
100V H 3
71V *0V
102

1 0 2 34

105 V 105 V
101% 102 V
93 V 103
iiiv m

%

^ T r u s t Co. c tfs .

Philadelphia and Baltim ore Stock E xchanges— Stock B ecord, Daily, W eek ly, Y ea rly
S h a re P rices—Not P e r Centum P rices
S aturday
Dec. 3

M on d a y
Dec. 5

Tuesday
Dec. 6

85
85 V
1 0 8 % 108%
19
19V
38% 38%
1 4 V 14%

8 5V 86
109 109 V
19V 19V
3 9 V 39%
14% 15V

85 V 8 5 V
109
109V
1 9 V 19%
3 9 V 39 V
14%
14

48%
25V
9V
18 V
10V

48% 48%
25 V 2 5 V
8 i% e 8 V «
17 V 18V
10V 10V
* 1 1 V 12V
*39
40
105
113
55 V 57 V
4316 4 3i6
69
69 V
41% 42
10V 10V
18
18
3 9 l3i 0 4 1 V
45 V 4 6
4 1 V 41%
59
59
106 108

W ednesday
Dec. 7

Sales
of the
( F or B onds and In active Week
Stocks see below )
Shares

R ange to r Year
1901

A C T IV E S T O C K S

T h u rsd ay
Dec. 8

F rid a y
Dec. 9

Lowest

H igh est

Range tor P reviou s
Year (1 9 0 3 )
Lowest

H ighest

B altim ore

86

86

85
C o n so lid a te d G a s............ 1 0 0 1,341
86
728
N o r th e r n C e n t r a l.......... 50
106 V 1 0 6 V *107 109
1 8 V 1 8 V S e a b o a rd A i r L i n e ........ 1 0 0 5,638
1 7 V 18 V
38 V 33%
D o p r e f ..................... 1 0 0 1,424
37
38
14
1 4 V U n ite d R y So E le c t r i c .. 50 27,993
12 V 13%
86

107 V 109 V
1 8 V 18V
38% 39
1 3 V 14

86

57 V
71
7
13%
5%

Jan 5 86 D ec 5
J ’ n e 2 109 V D e o 5
J ’ ne21 19 7e N o v 19
J ’ ne21 40 N o v l 8
J ’ n e 1 15 V D e c 5

58 V
84 V
10%
20
8

D e c 72 V
O ct 118
D e c 28%
O ct 45
O ct
14%

Jan
J an
J an
Jan
Jan

P hiladelphia
48%
25V
9
18
10 V

48%
25%
9V
18V
10V

48%
25V
9
18
10V

124 128
125 128
57
59V
55
67 V
43ie 43ie
4V
4V
69 V 6 9 V 697i0 70
41
41
41
41V
9 V 10V
9 V 97ie
1 8 V 18 V
18 V 18 V
3 9 V 6 39% 3 9 15!0 4 1 V
44 V 45 V
44% 44%
41
41 4l13i0
41
*59
59 V
5 9 V 59 V
106 1 0 6 V 105% 107%
P H IL A D E L P H IA
In a c tiv e S to c k s
A m e r ic a n C e m e n t........10
A m er I r o n So S te e l___ 50
B e ll T e le p h o n e ............. 50
C am bria I r o n .................50
C e n tra l C oal So C o k e . 100
P r e f e r r e d ...................100
C on sol T r a c P it t s ..........50
P r e f e r r e d ............... .....50
D a n v ille B e s s e m e r ...I V
D ia m on d S ta te S te e l........
P r e fe r r e d ..........................
E a s to n C on E l e c t r i c .. .50
E le c S to ra g e B a tt___ 100
P r e f e r r e d ...................100
G e rm a n tow n P a s s ....... 50
H a rriso n B ro s p r e f . .. 100
In d ia n a p o lis S t ......... 100
I n t e r S m P o w So C h em .50
K e y s t o n e T e le p h o n e ..5 0
P r e f e r r e d .................... 50
K e y s t o n e W a t c h Case. 100
L it B r o t h e r s ...................10
L ittle S c h u y lk ill........... 50
M in e h ill So S c h u y l H . .5 0
N e s q u e h o n in g ............. 50
N H a v e n I r o n So S t e e l.5
N o rth P e n n s y l v a n i a ..50
P e n n G as C o a l............... 50
P e n n s y lv a n ia S a lt........50
P e n n s y lv a n ia S t e e l.. 100
P r e f e r r e d ...................100
P h ila Co (P it ts ) p r e f . . . 50
P h il G erm an So N o r r i s .50
P h ila T r a c t io n ............... 50
R a ilw a y s G e n e r a l........10
B nsqu eh Iro n So S t e e l . .5
!W dew ater S te e l........... 10
P r e f e r r e d .....................10
U n ite d N J R R & C . . 1 0 0
U n it P o w So T r a n s ___ 25
U n ited T r a c P it t s ........50
P r e fe r r e d .................... 50
W a r w ic k I r o n So S t e e l.10
W e s t J e r s e y So S e a S h .6 0
W estm ore la n d C o a l .. .60

B id
7V
47

V
IV
15
81

23V
10V

66

3V
10 2

47%
158V
98%
4
2

IV
278 V

5V

......

A sk

49
25V
8
8 15ie
16V 17V
10
10V

48%
25V

11

11

37 V
105 V
54 V
4V
68 V
41 V
9 13i0
*16%
38%
45 V
41
58V
105 V

37 V
107
56 V
4V
69 V
41V
10 v
17 V

407,

45%
41%
58 V
107

*48% 48% A m e rica n R a ilw a y s ___ 50
25
25 V C a m b ria S t e e l ................. 50
8 V C o n so l L a k e S u p e r io r 1 .100
8
8V
D o p r e f . t ................. 1 0 0
15%
16 V 16 V
10
1 0 % E le c t r ic Co o f A m e r ic a 10
10
12
*9
G e n A s p h a lt in te r im c t f s ..
*3 7
39
D o Dref interim c t f s ..
105 1 1 3 V L e h ig h C oa l & N a v ___ 50
105 106
51% 55%
5 4 V 5 5 V L e h ig h V a lle y ................. 50
4
4 1 i0 4V 6 M a rsd en C o ...................... 1 0 0
4V
67
6 8 V 6 7 9i0 6 8 V P e n n s y lv a n ia R R .......... 50
40% 41% P hU adelp’ a C o (P it ts b ) 50
40% 41
9 V 1 0 v P liU adelpbia E le c t r i c .. 25
On l 0 10
17
17
17
P h ila R a p id T r a n s i t . . . 50
17
3bV 0 3 9 V R e a d i n g ............................ 50
3 6 V 38%
D o 1 st p r e f............. 50
*4 4 V 4 5 V *44% 4 5 V
40
D o 2d p r e f............... 50
4011«
40 V 4 0 V
58% 5 8 V
57 V 57 V U n io n T r a c t o n ............... 50
U n ite d G as I m p t ........... 50
1 0 2 % 1 0 5 V 104% 106
21
*17
W e l 8 b a cli C o ................... 1 0 0
48V
24V

48V
25
8V 0
16
10V

P H IL A D E L P H IA

B onds
A1 Y a l E e x t 7s 1910 A -O
A m R y s c o n v 5 s 1911 .J -D
A t l C ity 1 st 5s g ’ 1 9 .M -N
B a lls T e r 1 st 5s 1 9 2 6 . J-D
B e r g & E B r w 1 st 6 s’ 21 J-J
B e th le S te e l 6 s 1 9 9 8 . Q -F
C he So D C an 1 st 5s ’ 16 J-J
C h o c So M e 1 st 5s 1949 J-J
C h O k So G g e n 5 s ’ 19 J-J
C o l S t R y 1 st c o n 5s 1932
C on T r a c o f N J 1 s t 5 s .’ 33
E So A 1 st M 5s 1920 M -N
E le c So P e o T r s tk tr c tfs
E lm So W i l 1 st 6 s ’ 10. J-J
E q 11 G a s-L 1 st g 5s 1928
H So B T o p c o n 5s ’ 25 A -O
In d ia n a p o lis R y 4 s. 1933
24 V I n te r s t a t e R y s —
3 -3V -4S 1 9 4 3 ........... F -A
L e h ig h N a v 4 V s ’ 1 4 .Q-J
R R s 4s g ........1 9 1 4 .Q -F
G e n M 4 V s g . 1 9 2 4 .Q -F
L e h V G 1 st 5s g ’ 3 3 ..J -J
L eh Y e x t 4 s 1 st 1 9 4 8 . J -D
2d 78 1 9 1 0 .................M -S
C o n s o l 6 s 1 9 2 3 ........J-D
4
A n n u it y 6 s ............... J -D
G e n c o n s 4 s a d -in t ctfs.
L e h V T r a c 1 st 4s ’ 2 9 . J -I)
N e w C on G as 5s 1948 J -D
N e w a r k P a ss c o n 5s 1930
47% N Y P h So N o 1 st 4s ’ 39 J-J
160
In c o m e 4 s 1 9 3 9 .. .M -N
9 8 V N o P e n n 1 st 4 s ’ 3 6 ..M -N
D e b e n 6 s 1 9 0 5 ........M -S
’ 2 V P e n n g e n 6 s c 1 9 1 0 .. V a r
2%
C o n so l 6 s c 1 9 0 5 ...V a r
C on sol 5s c 1 9 1 9 ... V a r
P e n n So M d S te e l c o n 6 s.
P a So N Y C an 7s ’ 0 6 . J-D
C on 5s 1 9 3 9 ............. A -O
C on 4s 1 9 3 9 ............. A -O
6
P e n n S te e l 1 st 5s ’ 17 M -N
66
P e o p le ’ s T r tr c e r ts 4 s ’ 43
P C o ls t & co l tr 6 s ’ 49 M -S

A sk

B id

8

* Bid and asked prices; no sales on this day.

1 0 2 " 102 V

90% 93
103
106
120

121

44 V

108 V
115
100

109
87

21 1

8,049
11,690
4,9 44
5,035
100

162
33,341
68,458
2,8 50
8,3 59
6,934
47 ,2 39
1,400
225,129
623
4,125
1,390
2 9 ,1 4 9

P H IL A D E L P H IA
P h il E le c g o ld tr u s t c t fs .
T r u s t c e r tifs 4 s . . ...........
P So E g e n M 5 g ’ 2 0 .A -O
G en M 4s g 1 9 2 0 .. A & O
P h So R e a d 2d 5s ’ 3 3 .A -O
C on M 7s 1911 ___ J-D
C on M 6 s g 1 9 1 1 ___ J-D
E x I m p M 4 s g ’ 4 7 .A -O
C on M o f ’ 82 4s ’ 3 7 .J -J
T e r m in a l 5s g 1 9 4 1 . Q-F
P W tfc B c o l tr 4s ’ 2 1 . J-J
R o c h e s te r R y co n 5s 1930
U T r a c In d g e n 5 s’ 1 9 . J-J
U n R y s T r c t fs 4 s ’ 4 9 J& J
U T r a c P it g e n 5s ’ 97 J -J
W e lsh a ch s f 5s 1 9 3 0 .J -D

A sk

101 v 102

75V

75%

104V
125
127
1 17V
106%
124 V
104 V
110

112

84 V ” 8 5 ”
116
6L
63

B A L T IM O R E

In a c tiv e S to c k s
A tla n ta So C h a r lo tte .. 100
64
63
A tia n C oast L in e R R , 100
A tl an C oast L (C o n n ) 100
Can ten C o .....................100
G e o r g ia S ou So F l a . .. 100
113% 114 %
1 st p r e f ...................... 1 0 0
2 d p r e f ........................ 1 0 0
G -B -S B r e w in g ........... 100
127 V
M t V e r n o n C o t D u c k ........
148
U n it E le c L So P p r e f .50
98V
B onds
.........
A n a c o s tia So P o t 5 s ...........
A tl So Ch 1st 7 . . . 1907 J-J
A tia n C L R R 4 s l9 5 2 M -S
A tl C oa st L (C t )c t fs 5s J -D
C tfs o f in d e b t 4 s ___ J -J
108
B alt C P a ss 1 st 5s ’ 11 M -N
B a lt F u n d g 5 s .1 9 1 6 M -N
114
E x c h a n g e 3 V s 1930 J-J
R e fu n d in g 3 Ve 1952J-J
114V
B alt So P 1 st 6 s m 1 ’ 11 A -O
114
B a lt T r a c 1 st 5 s .. ’ 29 M -N
N o B a lt D iv 5s 1942 J -D
..........
C o n v e r tib le 5 s .’ 06 M -N
102 "
C e n t’ l R y c o n o s l9 3 2 M -N
E x t & Im p 5 8 .1 9 3 2 M -S
110 V Chas C ity R y 1 st 5 s *23 J -J

R Lowest is ex-dividend-

B id

43 J ’ n e 3
18 V M a y 2 5
V May 13
I V M ay 13
7% F e b 8
5 V J ’ ly 15
20 A u g lO
62 V J a n 14
33% F e b 26
2 78 M ar 3
5 5 7s M a r l 2
37 V M ay 17
5 M ay25
8
J an 6
19 V M a r l4
38 M a r 1
28 M a r 14
45% J a n 2
81 M ay 16
19% O ct 13

U Ex-rights.

t$15 paid.

317
10 0

.........
9
8V

47

lb o '

9%
9
50

105% 106
108 %
99 V 99%

.........

.......

112
100%

......

. . . . . .

51 O ct 31
2 5 7s N o v 2 8
t 9 V N ov30
1 18% D e o 2
11% N o v l 6
14 V N o v l 8
44 V N o v l 8
131V D ec 2
59 V D e c 5
4 V N o v lo
70 D e c 5
43 V O ct 17
10 V D e o 6
119 N o v l 5
41% D e c 6
46 D e c 6
4113io D e c 5
59 V D e c 2
108 D e c 6
22 J ’n e l 8

40% D e c 5 2 V J a n
17% N ov 28% J a n
V N o v 9 9i 0 J a n
V U©c 40% J a n
7 1i 0 O ct
10% J a n
10 D e c 11 D e o
19 N o v 36 J ’ ly
64 A u g 79% F e b
34 V N o v 45 V J an
1 V Sep
4 Jan
55 V N o v 78% J a n
35 O ct 47% F e b
5 Aug
9 Jan
7% D ec 1 7 7s J a n
18% N ov 34111 0 J a n
36 Sep 44n i fi F eb
27% N ov 4 0 V J an
40 7q S ep 47% F e b
76 O ct 1 1 6 V Jan
20 A u g 31 M ar

B A L T IM O R E
C has R y G So E l 5s ’ 99 M -S
C hari C So A e x t 5 s . ’ 09 J-J
2d 7 s .................1910 A -O
C ity So S u b 1st 5 s . . ’ 22 J -D
Oity<& S u b ( W a s ) ls t 5 s ’ 48
C oltfcG rn v 1 st 6 s .1916 J-J
C on sol G as 6 s . . . 1910 J-D
5 s ....................... 1939 J-D
G a So A la 1st con 5s ’ 45 J-J
G a C a r & N l s t 5 s g ’ 29 J-J
G e o rg ia P 1 st 6 s . . . ’ 22 J-J
G aS o & F la 1 st 5s 1945J-J
G -B -S B r e w 3-4s 1 951M -S
2d in co m e 5s 1951 M -N
K n o x v T r a c 1st 5s ’ 2 8 A -0
L a k e R E l 1st g u 5 s ’ 42M -S
M e t S t (W a s h )ls t 5 s ’2 5 F A
M t V e r C ot D u c k 1st 5s.
I n c o m e s ............................
N p t NcfeO P 1 st 5 s’ 38 M -N
G e n e ra l 5s— 1941 M -S
N o r fo lk S t 1 st 5s ’ 4 4 .. J-J
N o r th C en t 4 V s 1925 A -O
6 s 1 9 0 4 .........................J-J
S eries A 5s 1 9 2 6 ___ J-J
S eries B 5s 1 9 2 6 ___ J-J
P itt U n T r a c 5s 1 9 9 7 .J-J
P o to Y a l 1 st 5s 1 9 4 1 ..J-J
S e c A v T ( P i t t s ) 5 s ’ 34 J-D
S a v F la & W e s t 5s ’ 34 A -O
S eaboard A L 4s 1950 A-O
S ca b So R o a n 5s 1 9 2 6 . J-J
S ou th B o u n d 1st 5 s ..A -O
U E 1 LtfcP 1 st 4 V s ’ 29 M -N
Un R y & E l 1st 4s ’ 49 M -S
In c o m e 4s 1 9 4 9 ......... 1-D
V a M id 1 st 6 s 1 9 0 6 ..M -S
2d s e rie s 6 s 1 9 1 1 ...M -S
3d series 6 s 1 9 1 6 ..M -S
4 th ser S-4-5s 1 9 2 1 . M -S
5th se rie s 5s 1 9 2 6 .M -S
Y a (S ta te) 3s n e w ’ 3 2 .J-J
F u n d d e b t 2-3s 1 9 9 1 . J-J
W e s t N C con 6 s 1914 J-J
W e s V a C & P 1 st 6 g ’ 11 J-J
W il < W e ld 5 s . .1 9 3 5 .J-J
&

B id

A sk
94

i ‘12% i l 3 %
1 07 V 108
111V
117 117 V
112
56 V
27

57
27 V

75 V
30

76
30V

i*12V 113 V

85

85 %

112 V 113
93% 93 V
92% 93
64 V 65

.........

........

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

il2 v

$ Reorganization certificates $3 assessment paid.

.........

......

THE CHRONICLE.

2 0 ^ ()

[ V O L . L K X 1X .

Itnrjestment and Railroad Intelligence.
R A IL R O A D

GROSS

EARNINGS.

The following table shows the gross earnings of every Steam railroad from which regular weekly or monthly returns
ban 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 Ji#ly fl to and including such latest week or month. W e add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period,
T h e r e t u r n s o f th e s t r e e t r a i l w a y s a r e b r o u g h t t o g e t h e r s e p a r a t e l y o n a s u b s e q u e n t p a g e .
L a te s t G r o s s E a r n i n g s

ROADS

Week
or AJonth

Current
Year

Pluvious
Year

July

1 to Latest Dale

Current
Year

Year

September

AGGREGATES OF GROSS
W E E K L Y S U M M A R IE S
1st
2d
3d
4th
1st
2d
3d
4th
1st
2d
3d
4tli

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

Sept.
Sept.
Sept.
Sept.
Oct.
Oct.
Oct.
Oct.
N ov.
N ov.
N ov.
N ov.

(50
(50
(49
(51
(46
(46
(47
(45
(49
(49
(50
(43

r o a d s ).. „
r o a d s )..
r o a d s )..
r o a d s )...
r o a d s ). , .
r o a d s ). . .
r o a d s ).. .
r o a d s ).,.
r o a d s )...
roads) ..
r o a d s ). . .
r o a d s ). . .

Current Year Previous Y’ar Inc. or Dee.
$
8,934,369
9 ,5 9 8 ,3 6 4
9 ,6 7 7 ,9 8 0
12,845,791
9 ,273,472
9 ,5 4 2 ,7 4 5
10,126,282
14,297,971
9 ,4 8 0 ,1 8 3
9 ,4 7 5 ,7 8 6
9 ,765,176
12,611,501

$
8,563,783
9 ,017,197
8,928,593
12,280,423
8,708,991
8 ,9 0 2 ,0 2 4
9 ,269,091
13,988,402
8,758,879
9,093,461
8,794,167
10,897,362

ROADS

Previous

$
62,389
58,325 1,257,003 1,208,869
Ala G t S outhern. 3d wk N ov
Ala N O A Texas P a d lie.
892,150
45.000
49.000
924,116
N O A N o E ast. 2d wk N ov
491,651
27.000
2 8 .0 0 0
447,136
A la A V ick sb ’ g 2d w k N ov
5 1 5 ,7 8 4
33.000
30.000
513,710
Vicksl> fell A P. 2d wk N ov
Dec. 70,342
Dee. 349,593
A llegheny V alley S ep tem ber
5 4 ,2 6 4
828,606
51 ,1 4 4
876,903
A nn A r b o i\ - ....- P tiiw b N o v
Atoll T op A S Fe O cto b e r. . 5 ,549,380 6,576,025 21,892,891 2 3 ,4 2 8 ,1 6 4
929,708
833,585
A tlan ta A Char. S ep tem ber 311,291 2 9 7 ,3 6 4
93,552
338,349
219,537
56,816
A tlan tic A B tr .. O c to b e r ..
A tl C oast B in e .. O c to b e r .. 1,916,683 1,756,749 6,575,431 6,0 6 5 ,4 2 0
14,047
41 ,5 6 8
13 ,0 0 4
41,261
B a lt A A nn S L . S eptem ber
B alt A O h io ....... . O c t o b e r ,.. 6,181,073 6,024,426 23,374,728 2 3,906,409
205,703
727 ,9 7 4
193,505
705,705
B a n g or A A roost O c t o b e r ...
22,306
5,936
6,243
B eliefon te C ent’ N ovem b’ r .
3 1 ,2 6 4
4,576
13,791
13,034
3,808
B rid g t A Saco R . S eptem ber
193,132 3 ,564,362 3,530,939
Buli fio o h A Mots 4th w k N o v 185,365
96,654
101,185
378 ,5 9 6
343,380
B uffalo A S u s q .. O c t o b e r ...
654,935
157,385 143,669
601,746
Dal A N o r t h w ’ m O cto b e r .
89,600 1,714,100 1,4 4 8 ,8 0 0
Dan adian N orth . 4th w k N ov 120,100
Danadian Pacliie 4th w kN ov 1.381.000 1,158,000 22,496,909 2 0,641,673
C e n t ! o f G eorgia 4th w k N o v 301,109 222,665 4 ,479,085 3,9 9 6 ,1 0 5
1,907,602 L,9 4 3 ,O i l 7,6 4 3 .5 8 2 7,583,711
OentT o f N J ersey O ctob er
58,437
3,665
2,845
Ohattan S outh’ ll. 4 th w k N o v
46 ,5 3 3
Ohesap A O h io ... O c t o b e r ,.. 1,807,467 1,714,738 7,0 1 7 ,6 4 2 6,5 0 4 ,1 1 2
O c to b e r ... 1,300,783 1,121,227 4 ,7 0 9 ,1 4 6 4,1 9 4 ,8 3 5
Ohio A A lto n R y .
Ohio G t W estern . 4 eh w k N o v 222 ,3 5 2 241,489 3,3 2 5 ,9 1 2 3 ,7 5 8 ,7 6 2
Chic Iiid A L ’ v . . . 4 th w kN ov 139 ,7 8 7 118,391 2,4 4 8 ,4 5 0 2,402,342
Ohio M ilw A St P O c t o b e r ... 5,015,619 4,838,538 17,913,030 17,594,875
Chic A N orth W O c to b e r .. . 5,372,570 5,548,178 2 0,313,284 20,2 9 1 ,6 5 7
Ohio i t P M A O . O c to b e r ... 1.286.785 1,243,406 4 ,3 3 3 ,3 0 3 4,3 1 1 ,5 6 6
38 ,8 9 4
42,506
667,761
711,055
Chic T erm T r RR 4 th w k N ov
O in N O A T P a o . 3d w k N ov 1 40,170 126,459 2 ,8 8 5 ,4 1 4 2 ,747.172
Cl C in Oh A St L*. O c t o b e r ... 2,202,569 1,848,517 8 ,243,248 7,6 7 5 ,1 8 6
24 8 ,7 5 7 262,016 1,004,120 1,0 4 4 ,6 8 4
P eoria A E ast’ n O c t o b e r ...
C olorado A South 4 th w k N ov 136,816 127,789 2 ,6 3 9 ,5 2 0 2,8 0 3 ,6 5 4
23,476
74,801
22 ,4 9 7
7 5 ,8 3 7
Del N ew !) A L au. O c t o b e r ...
51 ,2 5 1
174,995
47 ,6 7 7
149,316
Copper R a n g e .... S eptem ber
6,459
5,059
16,989
26,730
C orn w a ll----------- S eptem ber
21,110
7 9 ,1 2 7
17,394
9 9 ,8 2 4
C ornw all A L ei).. O c to b e r ..
D en v. A R io G r ... 4 th w k N o v 4 5 4 ,7 0 0 363,000 , 7 ,4 8 8 ,4 9 3 7 ,713,968
77,948
328 ,6 3 2
327 .2 3 3
80,811
D et A M a ck in a c. O c t o o e r ...
4 9 .5 2 0
736 ,6 4 4
651,731
37 ,4 3 6
D etroit Southern. 4 th w k N ov
63,655
44,438 1 ,164,828 1 ,192,537
Dul So fell A A t L . 3d w k N ov
E r ie -------------------- O c t o b e r .. . 3,9 3 8 ,0 6 4 3,835,611 15,996,411 1 6 ,944,307
3,129
2,109
11,000
9,620
F ’rch ild A N’ r V n O c t o b e r ...
8,702
16,689
7 ,0 9 4
13,161
F a rm v A P ow h at A u g u s t.. . .
842,436 1 ,035,806
283,800
F t W A D en v City O c t o b e r ... 245,481
258,69
269,026
847,178
8 22,457
G eorgia R R —----- O c t o b e r ,..
574 ,1 3 2
157,593 153,745
Ga S outh & F la .. O c t o b e r ...
562,307
4 8 .5 2 1
G H a V a l G A N -. S ep tem ber
Gr T ru n k System 4 th w kN ov 9 27,861 827 ,3 9 7 1 5 ,5 2 3 ,0 1 9 1 5,816,114
G r Tr. W est’ n. 3d w k N ov 120,159 1 2 3 ,0 7 4 2 ,0 2 4 ,5 5 6 “ ,323,454
25,963
613,107
21,841
D e t Gr H A M .. 3 d wi£ N ov
5 52,520
G reat N o rth e rn .. N ovem b er 4 ,4 6 8 ,0 1 4 4,047,399 19,713,323 19,889,506
982,219
2 01,809 131,806
M on tan a C en t’) N ovem b er
8 73,316
T o ta l system . N ovem b er 4 ,669,823 4,179,205 2 0,695,542 2 0 ,762,822
74 8 ,4 3 1
37,685
35,563
G u lfA Ship Island 3d w k N ov
7 3 4 ,4 8 1
H o ekin g V a lle y .. 4 th w k N ov 151,955 136,825 2 ,7 9 6 ,2 7 4 2,771,041
Illin ois C e n tra l.. N ovem ber 4 ,475,145 4,071,630: 21,4 1 2 ,9 8 4 2 0 ,2 2 6 ,2 3 2
99 ,0 7 4
24 ,6 5 4
20,120
64,165
Illin ois Southern O ctob er
5 44,491
5 14,181
Ind IH & I o w a ... O c t o b e r ... 1 52,534 144,332
215,279 225 ,4 1 4 2 ,8 1 8 ,8 0 4 2,737,545
In t A G t N orth ’ n 4 th w kN ov
tln te ro e (M e x )... 4 th w kN ov 153,528 144,383 2,3 7 0 ,8 6 2 2 ,3 0 9 ,9 9 3
62,138
tow a C en tra l___ 4 th WkNov
4 7 ,2 2 6 1 ,1 0 2 ,0 3 2 1 ,0 2 5 ,2 9 7
41 ,4 1 7
72 2 ,3 7 5
75 3 ,0 6 9
K anaw ha & M ich 4 &hw k N ov
33,012
607,761
K an C ity SoutlTn O c t o b e r ...
569,417 2 ,1 4 7 ,0 7 4 2 ,103,450
L akeE rieA W estn N ovem ber
40 9 ,9 9 8 406,511 2 ,203,573 2 ,3 2 2 ,4 9 1
Lehigh V a l R R -. O c t o b e r ... 3,005,465 2,557,103 10,474,198 1 0 ,744,692
157 ,9 0 4
L ex in g A E a st’ n . u e t o b e r ...
40 ,4 3 7
50,301
20 5 ,3 5 0
Inc. 100,725 .
L on g I s l a n d ___ O c t o b e r ...
Inc. 156 ,0 1 0
68,184
L ouisian a A A rk, O c t o b e r ...
52.000
212,761
263,891
L ou isv A N ashv. 4 th w kN ov 1.034.785
8 63,303 16,145,740 1 5 ,606,764
M acon A B irrm .. O c to b e r .
48 ,2 0 2
15,148
16,444
47,561
Man 7 A Gr. R ap
tee
8 ,0 6 4
7,768
26,432
24,181
Manis A N o Eas: S eptem ber
36,899
3 1,671
9 6 ,1 1 0
10 7 ,8 4 0
9,698
29,323
3 6 ,4 5 /
M a n istiq u e.......... O c t o b e r ...
3,957
M aryl’ d A Penn.. O c t o b e r ...
32,289
29 ,9 5 2
1 23,319
121,617
\M exican C en tT .. O c t o b e r ... 2 ,2 5 8 ,2 3 4 2 ,226,684 8 ,246,366 8,302,6.87
5 8 6 ,3 3 4 549,428 2 ,183,392 2 ,168,882
f M exican In tern . O c t o b e r ,..
fM ex ica n R y ------ W k N ov 19 1 26,500 113,500 2 ,2 7 6 ,8 0 0 2 ,1 3 5 ,9 0 0
19,641
l M exican feo u ih ’ u 3d w k N ov
41 1 ,0 8 4
4 3 6 ,3 4 8
21,980
5,012
17,632
M illen A So’ w ’ n ,. O c t o b e r . . .
7 ,3 5 6
28,015
M in eral R a n g e .. 4 th w k N ov
11,917
2 43,300
2 97,193
23,136
M in n ea p A St L . 4 th w k N ov
7 1,475 1,345.683 1,338.375
75,538
M o K an A T exas 4 th w kN ov 6 6 1 ,6 4 4 4 8 5 ,84s 9 ,2 6 4 ,5 8 4 8 ,093,613
M o P a c A Iron Mt 4th w k N ov 1.448.000 1.321.000 1 8.754.334 18.484.528
C entral B ranch 4 th w k N ov
4 2 .0 0 0
72 2 ,0 0 0
6 3 .0 0 0
97 ,0 0 0
T o ta l................ 4 th w k N ov 1.490.000 1 .384.000 19.476.334 19.281.528

$
+ 3 7 0 ,5 8 6
4 581,167
+ 7 4 9 ,3 8 7
+ 5 6 5 ,3 6 8
+ 5 6 4 ,4 8 1
+ 640,721
~ 857,191
t
+ 309,569
+ 7 2 1 ,3 0 4
+ 382,325
+ 9 7 1 ,0 0 9
+ 1,714,139

4-33
6*44
8*39
4-60
6*48
7*20
9*25
2-21

8*23
4*20
11*04
15*73

Current
Year

Week
or Month

$*
2 5 8 ,934
M St P A S St M. 4 th w k N ov
1.0,820
Wk N o v i 9
Mob J a ck A K C.
M obile A O h io . . . 4 th w k N ov 294,895
Nash Ch A Bt. L . . 4th wkN 0 v 262,131
[N at’ l R R o f M ex 4 th w k N ov 261,800
25,588
N e v -C a l-O re g o n . O c t o b e r ..
3.356
Ne vad a C en tra l.. O c t o b e r ,..
N Y C & H u d Riv N ovem ber 7,014,224
592,578
N Y O nt A W est. O c t o b e r .. .
220,860
N Y Susq A West O c t o b e r ...
N orfolk A W est’ ll O c t o b e r ,.. 2,046,180
996,207
Northern Central O c t o b e r ...
North’ ll P a cific.. N ov em b er 4,945,567
18,119
Ohio R iv A W e s t. O c t o b e r ...
P a cific C oast Co. S ep tem ber 559,303
ePenn—E a stP A E O c t o b e r ,.. 10728675
Inc. 9,
eW est P < E — O c t o b e r . . .
fe
Per© M a r q u e tte .. 4 th w k N o v 346,719
P hila B a lt A W ’ sh O c t o b e r ... 1,145,981
Septem b ar 705,475
Phil a A E r ie ...
Pittsb C C A S t 1 O c t o b e r ... 2,168,822
4.356
R aleigh A Q F ear O c t o b e r ...
R eading R ailw ay O c t o b e r ... 3,399,735
C oal A Ir O o .. O c t o b e r .. 3,223,363
T o ta l B oth C os. O c t o b e r ... 6,623,098
R ich F r’ ksb A P - Septem ber 104,806
46,256
Rio G rande J e t .. A u g u s t.. .
14,577
Rio G rande S o ... 4 th w k N ov
R ock I s l’ d S y s ... O c t o b e r ... 4,318,813
232,345
R u tla n d R R . ....... Septem ber
116,864
St J o s A G r I . . . . . S eptem ber
3,842,614
St L A S an F ran O ctob er
4th w k N o v 257,775
St L S ou th w est
348,737
S t L Y a n A T H - . O c t o b e r ...
S e a b o a r d A ir L .. Septem ber 1,117,223
125,110
Sou th e m i n d ___ N ovem b er
So P a cific C o b __ O c t o b e r ... 8,938,468
sou th ern R a iiw ’ y 4 th w k N ov 1,261,408
208,891
T erre H A I n d . . . O c t o b e r ...
54,289
Terr© H A P e o r .. O c t o b e r .. .
29,344
T e x a s Central . . . 4 th w k N o v
T exa s A P a c ific .. 4 th w k N ov 4 5 8 ,240
17,800
T e x S V A N W .. O c t o b e r ...
108,243
T o l A O hio C e n t . 4 th: wkN ov
40,372
T o i P A W est . . . . 4 th w kN ov
T ol S t L A W ........ 4 th w kN ov 106.320
14,959
T or H am A B u l l. 3 d w x N ov
CJn P a c System .. O c t o b e r . 5,925.773
53,108
V irgin ia A So W’ n O c t o b e r ...
W abash ................. 4 th w k N ov 638,467
W J ersey A Sea'e O c t o b e r ... 2 9 8 ,430
W heel A L E ___ _ 4 th w kN ov 1 1 6 ,268
14,227
Wm?sp ort A N. Br. Septem ber
W isconsin C e n t.. 1st W e D ee 124,000
2 1 .8 1 5
W rightsv A T ’n .. S eptem ber
9 4 4 ,3 3 d
Y azoo A Mi ss. V N o v e r n ie r

Previous
Year

A llegh en y V a lle y ....... ........... Jam
A tlanta A C hari A ir L in e ___ Mar.
A tla n tic A B ir m in g h a m ___ Dec.
Bel lefon te C en tra l.................. Jan.
Chic St P M inn A O m ah a___ Jam
International A G t N orth ’ n . . J an.
Lake E rie A W estern
M anistee A N orth E a stern . .1Jam
M a n istiq u e................................. Jam
M aryland A P e n n sy lv a n ia .. Mar.
M exican I n t e r n a t io n a l........ Jam
1 exiean R a ilw a y _____ - ___ Jam
M
[M exican S o u th e r n ................ Jam
M issouri P a c ific ........................ Jam
Central B r a n c h .................... Jam
T o ta l.............................
J am
[N ational R R o f M e x ic o ....... Jam
N ortkern Centra 1........ .......... Jam
eP ennsy., E a st o f P A E ....... Jan.
c W e s t o f P & E . . . ................. Jan.
Per© M a rq u e tte ....... . . . . ......... Jam
Phila B a ltim ore A W a sh ___ Jam
Philadelphia A E r ie .............. J an.
Pitts Cin Chic A St L o u is___ Jam
Rio G ra n d e J u n c t io n ............. Dec.
St L V andalia A T erre H ___ Nov.
Terre H au te A I n d ia n a p ___ N ov.
T erre H a u te A P e o r ia ........... Nov.
T exas A P a c ific ........................ Jan,
West Jersey A S eash ore........ Jam

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

Current
Year

Previous

Year

$

192,254
8,154
259,559
231,593
260,185
23,97 6
3,612
6,600,886
493,484
142,373
2,031,099
889.707
4,552.600
19,637
538,081
10725575
100

282,330
1,189,181
682,188
2,247,777
2,990,804
2,421,528
5,412,332
110,277
5 3 ,9 /3
9,375
4,432,933
232,063
122,303
3,357,892
255,335
227,812
987 ,6 8 4
115,47t
8,918,133
1,025,192
206,733
60,933
34,694
4 4 4 ,1 8 4
17,100
83,348
31,306
78,877
10,182
5,675,575
65,651
5 2 9 ,1 4 s
280,130
92,390
14,883
112.967
15,918
805,273

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

3,870,643 3,492,099
183.190
146,568
3,483,148 3,200.3 S7
4,318.924 4.145.288
4,539,488: 4,529,746
90,699
81,252
9,865
13,634
35.206,470 34,765,894'
2,536,403 2.460.371
820,987
840,003
7,829,973 7,78 5 ,5 7 4
3,689,477 3,611,077
23,462,744 22,734,725
76,602
77,870
1,774,808 1,665.797
40,898,318 43,443,018
Dec. 79 0.000
5,748,022 5,022,849
4.766.3 7 6 4,759,576
2,194,531 2,238,614
8,302,346 8,866,095
15,921
11,833,805 12,117*227
9.814.3 35 10,419.088
21,648,140 22,536,315
343,735
311,977
89,18s
104,930
200,386
201,186
15,367,507 17,174,571
7 2 0 ,734
709,223
343,711
356,443
13,573,995 12,632,768
3,878,456 3,296,067
1,304,026
877,353
3,103,238 2,908,963
601,369
559,035
31.985,355 32,817.695
20,591,467 19,133.017
800,939
760,849
233,457
227,099
374,362
331,022
5,360,739 5,092,499
56,200
51,200
1,845,759 1,693,737
561,670
550,750
1,666,917 1.405.372
2 6 2 ,5 s l
242,044
20,831,324 19,982.259
2 0 0 ,3 0 0
252,802
11,773,575 10,385,638
2,045.069 2,046,769
1,962,295 2,008,018
50,538
52,167
3.116.080 3,054,592
45,871
3 s ,586
3,545,263 3,182,496

Current
Previous
Year
Year
Dec , $57 3.958

Period

V A R IO U S F IS C A L Y E A R S

EARN
P. C.

1 ti v 1 to Latest T
j

L a te s t G r o s s D a r n i n g s

Sept. 30
Sept. 30 $2,079,222
737,0 / 7
Got. 31
51,761
N ov. 30
O ct, 31 9.313,339
N ov. 30 5,224,241
N ov. 30 4,528,802
324-151
Sept. 30:
72,419
O ct 31
221,679
O ct. 31
O ct. 31 5,744,999
N ov. 19 5,315,700
N ov. 21 1,048,118
N ov. 30 3 8 ,3 0 /.9 5 5
N ov. 30 1x527,000
Nov. 30 39.834,955
N ov. 30 10,438,957
O ct. 31 8,568,071
O ct. 31 97,594,094
Dec. 2,1
Oct. 31
N ov. 30 11,080,585
O ct. 31 11,339,087
Sept. 30 5,665,197
O ca 31 19,920,506
397,075
A ug. 31
O ct. 31 3,027,612
O ct. 31 2,132,529
635,727
O ct. 31
N ov. 30 10.797,532
Oct. 31 3,820,521

$ 1 ,895,082
__
68,390
9,908,584
5,289,505
4, <80,236
284+02
59,003
225,945
5.889.436
4,87 5 ,4 0 0
922, S18
38,007,010
1,399,000
39,406,010
10,277,126
8,651,271
103598^94
65,100
10,313,877
11,383,587
5,846,620
20,747,939
421,612
2,466,421
2,028,229
629,647
10,678,021
3,771,621

i NOS—Weekly and OTonfclily.

M O N TH LY SU M M A R IE S
M onth
M onth
M onth
M onth
M onth
M onth
M on th
M onth
M onth
M onth
M onth
M onth

D ec.
Jam
Feb.
Mar.
Apr,
M ay
June
J u ly
A ug.
Sept.
Oct.
N ov.

1903
1904
1904
1904
1904
1904
1904
1904
1 904
1904
1904
1904

Current Year Previous Y^ar Inc. or Dec. P. C.
$

$

42 1 ,3 0 7 ,0 2 0
118,445,889
133,218,211
132,433,290
130,935,613
113,351,491
18*2,242,621
145,292,493
151,475,024
66,390,161
61,305,471

127,083,582
115,448,815
133,294,034
136,783,139
134,660,386
114,280,175
139,712,599
144,558,473
147,338,536
63,939,889
5 5 ,919,757

1

(1 2 8 rds.) 136,551,834 131,146,421

(127
(129
(125
(127
(128
(108
(125
(1 2 2

(124
( 67
( 54

rds.)
rds.)
rds.)
rds.)
rds.)
rds.)
rds. )
rds.)
rds )
rds.)
r d s.)

1 M e x ica n cu rre n cy .
b In clu d e s th e Hems, A T ex . Cent, a n d its subsid. lin es in b o th y ea rs and fo r both p eriod s,
operated, g In clu d e s th e C hicago A E a stern IH inois in b o th years*

$
1
^
+ 5 ,4 0 5 ,4 1 3 4 T 2
—5,77 6 ,5 6 2 4*55
+ 2 ,9 9 7 ,0 7 4 2*60
—75.823 0 06
—4,349,819 3*18
—3,724,773 2*77
—9 2 8 ,684 0*81
—7,469,978 5*35
+ 7 3 4 ,0 2 0 0*51
+ 4 ,1 3 6 ,4 8 8 2*81
+ 2 ,4 5 0 ,2 7 2 3*83
+ 5 ,3 8 5 ,7 1 4 9 63

e Covers lines directly

THE CHKONICLE

D ec . 10, 1904.]

Latest Gross Earnings by Weeks.—In the table whieh
ollows we sum up separately the earnings for the fourth
week of November. The table covers 43 roads and shows
15*83 per cent increase In the aggregate over the same week
last year.
4th week o f November.

1904.

1903.

S
$
54,264
Ann Arbor...................
51,144
185,365
Buffalo Roch. * Flttsb’g
193,13.
120,100
Canadian Northern......
89.600
Canadian Pacific______ 1,381,000 |1,158,000
301,109
222,66'
central of Georgia___...
3,665
2,845
Chattanooga Southern..
222,352
Chicago wreat Western
244,489
139,787
Ohio. Ind’plls < Loulsv.
ft
118,391
38,891
42,506
Chic. Term. Transfer....
136,816
Colorado & Southern___
127,789
454,700
363,000
Denver < Rio Grande.
ft
49.520
Detroit Southern. . . . . _
_
37,436
Duluth So. Shore & Atl
63,655
44,438
Gr’nd Trunk of Cans da 1
Grand Trunk West.. >
927,861
827,397
Det.Gr’nd Hav. &M11. )
151.955
Hooking Valiev__. . . ___
136 825
215,279
225,414
international < Gt.No.
fc
Interooeanic of Mexico..
153,528
144,383
62.138
Iowa Central _____ . . . . . .
47,226
41.417
33,012
Kanawha < Michigan..
ft
Louisville <ft Nashville.
1,034,785
863,303
Mineral R a n g e...........
23,136
11,917
Minneapolis <ft 8t. Louis
75,539
71,476
Minn. st. P. <fe S. Sta. M..
258,934
192 254
Mo. Kansas < Texas.....
ft
661,644
485,848
1,448,000 1,321,000
Mo. Paciflo < Iron Mt...
ft
Central Branch.......
42,000
63,000
Mobile < O h io ...........
ft
294.895
259.659
262,131
Nashv. Chat. < St. Louis
ft
231,593
261,800
National RR. of Mexico
260,185
Pere Marquette___. . . . .
282,330
346,719
14,577
Rio Grande Southern. .
9,375
255,335
St. Lou is Southwestern.
257,775
Southern Railway. . . . . .
1,261,408 1,025.192
Texas Central................
29,344
34.694
458,240
444,194
Texas <ft Pacific__. . . . . . .
108,243
Toledo <ft Ohio Central.
83,348
40,372
31,30b
Toledo Peoria <ft West’n
106,320
78,877
Toledo St. L. <ft West—
Wabash_______________
638,467
529,448
92,390
116,268
Wheeling <ft Lak e Erie.. .
167,500
151,057
Wisconsin Central______ . . .
Total (43 roads).................. ... 12,611,501 10,887,36*
Net Increase <15-83 do .

Increase.

Decrease.

$
3,120

$
7,767

30,500
223,000
78,444
820

22,137

21,396

3,612

9,027
91.70
12,084
19,217

__

100,464
15,130
9,145
14,912
8,405
171,482
11,219
4,063
66,680
175,796
127,000
______ .

35,336
30,538
1,615
64,389
5.202
2,440
236,216

__

„ ,

14,056
24,895
9,066
27,443
109,019
23,878
16,443
1,794,140
1,724,139

10,135
______________

atmma o n
_ _ _ _ _

_

_____________

21,000

,

, o0 .

5,350

1904.

Previously rep’d <43rMe
Alabama Gt. Southern..
Cln. N. O. < Texas Pao.
ft
Gulf < Ship Islan d......
ft
Mexican R ailw ay........
Mexioan Southern........
Mob. Jaoksou < K. City..
ft
Toronto Ham. A Buffalo

$
9,353,017
62.38*
140,170
37,686
U126,500
19,641
1110,820
14,959

$
8,420,004
58,32‘
129,459
35,563
11113,600
21,980
118,154
10,182

$
972,670
4,064
13,711
2,122
13,000

9,765,176

8,794,16)

1,013,019
971,009

Total (50 roads)-- - Net increase <11*04 p.c.

1903.

Increase.

"2,666
4,777

1903.

S
$
Gross earnings (54 roads) 61,305,471 55,919,757

Increase.
$
5,385,714

$

81,757
144,048
19,953
160,108

71,051
196,120
29,686
141,129

11,082
85,025

7,912
75,322

7,872

10,405

57.080
27,885
10,961
11,455
44,880
50,232
Inc. 115,296
Ine. 121,168
8,852
27,646

10,661
32,637

24,359
28,448
95,031
80,528
454,614
540,817
1,542,327 1,455,015
407
693
1,563
119
2,502
1,823
137,611
34,232
682,969
875,285
852,995
856,103
3,273,051 3,294,526
4,660
5,731
20,199
20,014
4,521
3,447,001
10,938,308
3,015,632
10,073,126
110,080
389,174

1,821
3,431,399
10,697,825
2,868,549
9,351,241
128,750
517,836

Interest Charges and Surplus.

70,001

Decrease.
$
39,671

2,339

42,010

Per Cent.
9*63

It will be seen that there is a gain on the roads reporting in
the amount of $5,385,714, or 9 63 per cent.
Net Earnings Monthly to Latest Dates.—The table follow,
ing shows the gross and net earnings of Steam railroads
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the Chboniole of Nov. 19,
1904. The next will appear in the issue of Dec. 24,1904.
— Gross Earnings.— , ------ Net Earnings.
<
Current
Previous
Current
Previous
Tear.
Year,
Tear
Tear.

Roads.
$
$
$
Ann A rbor.b....... Oct.
171,145
43,060
180,238
July 1 to Oct. 3 1 ....
660,853
715,755
206,409
Bangor&Aroost’ kbOct.
205,703
193,505
88,566
July 1 to Oct. 3 i..„ .
727,974
705,705
287,232
Belief onteCent..b. Nov.
6,243
6,936
2,573
Jan. 1 to Nov. 30___
51,761
68,390
15,089
Canadian Northern. Oct.
404,200
334,100
144,600
July 1 to Oct. 31___ 1,303,600 1,110,500
431,100
Colam.Newb.A L.b.Oct.
23,476
22,497
4,494
July 1 to Oct. 3 i ___
74,801
75,837
17,028
Cornwall < Leban,.Oct
ft
21,110
17,894
9,157
July 1 to Oct. 3 1 ....
79,127
99,824
29,639
Edison Elec. Ilium. Co. of
Brockton, Mass..Oct.
12,008
9,721
5,088
Jan. 1 to Oct. 8 1 . . . .
94,012
83,035
40,241
Fall River Gas Works
Co.......................... Oct.
25,007
33,166
6,600
July 1 to Oct. 3 1 ....
106,255
34,204
112,063
Gr. Trnnk of Can... Oct. 2,538,853 2,614,034
828,278
July 1 to Oct. 3 1 .... 10,261,015 10,466,188 3,419,689

$

. . .

For the month of November the returns of 54 roads show
as follows:
1904.

Roads.
$
$
Gr. Trnnk of Oaa.—(Oonel.)—
Gr. Trunk W est...Oct
523,635
581,546
July 1 to Oct 3 1 .... 1,677,969 1,948,546
Det.Gr. H. < MU.Oct
ft
111,929
126,042
July 1 to Oct 3 i —
537,747
483,729
Houghton County El. L t
(Houghton, M1oh.)Qct
19,203
16,305
Nov. 1 to Oct 8 1 ....
181,393
166,741
Jamest’n Ohaut. < L. E. bft
July 1 to Sept 30___
27,292
31,426
Lehigh < Hudson (>.—
ft
July 1 to Sept 3 0 ....
108,342
120,108
Lextng’n & East. b .. Oct
40,437
50,301
July 1 to Oot 3 1 ....
157,904
205,350
Long I aland b ........ Oct
Inc. 100,725
July 1 to Oct 3 1 . . . .
Inc. 156,040
Lowell Electric Light
Corporation........ Oct.
21,724
21,479
75,342
July 1 to Oct 3 i —
72,550
Minneapolis Gen. Elee58,985
trio Co...___ _ — Oct
52,230
198,300
July 1 to Oct 3 i . . . .
178,827
938,096
M. Bt.P.&B. 8. M.b.Oct
802,550
July 1 to Oct 31___ 2,961,749 2,732,445
2,440
Nevada Central...Sept.
3,297
3,356
3,612
Month of Oct......... .
9,865
July 1 to Oct 31---13,634
592,578
N. V. Ont.<ft West.aOct
493,484
July 1 to Oct 31 — 2,536,403 2.460,371
Norfolk<ft West’n.b Oct. 2,046,180 2,031,099
July 1 to Oct 3 i — 7,829,973 7,785,574
18,119
Ohio River < West.Oct
ft
19,637
76,602
77,870
July 1 to Oct 3 1 ....
Poughkeepsie < East.b—
ft
20,726
July 1 to Sept 3 0 ....
17,937
South, Pao. Co.a...Oct. 8,938,468 8,918,133
July 1 to Oct 31_ 31,985,355 32,817,695
_
UnionPac. Syst.a..Oct 5,925,773 5,675,575
July 1 to Oct 3 i ....! 20,831,324 19,982,259
418,801
408,859
Wheel. (&L. Erie.b. Oct
July 1 to Oct 3 1 .... 1,573,549 1,650,254

b Net earnings hereglvenare before deducting taxes.

. . . .

I These figures are for week ending Nov. 19.
T

Month o f November.

,— Gross Earnings.— , -------Net Earnings.------- 1
Current
Previous
Current
Previous
Tear.
Tear.
Tear.
Tear.

® N e t earnings aere given areafter deducting taxes,

For the third week of November our final statement covers
50 roads, and shows 11*04 per cent increase in the aggregate
over the same week last year.
3d week o f November.

2637

$
48,361
206,633
81,696
279,272
2,563
27,790
116,600
378,600
9,751
80,791
6,487
49,400
4,322
24,098
14.171
46,737
824,385
3,416,769

,— Int., Rentals, etc.— .
Previous
Current
Tear.
Tear.

P al. o f Net Earn'gs.—
.
.
Previous
Current
Tear.
Tear.

Roads.
$
$
$
$
27,591
26,094
*16,199
*23,369
Ann Arbor.............. Oct
108,156
123,873
*101,011
*85,958
July 1 to Oct 3 1 ....
45,727
46,467
42,839
35,229
Bangor < Aroost’k.Oct
ft
185,922
187,762
101,310
91,510
July 1 to Oct 3 u . . .
305
433
2,268
2,130
Bellefont© Central Nov.
11,734
Jan. 1 to Nov. 30—
3,355
4,783
23,027
5,129
2,391
4,096
Cornwall & Leban..Oct
4,028
16,049
33,144
16,256
13,590
July 1 to Oct 31___
Edison Elec. Ilium. Co. of
1,357
4,323
2,965
Brockton, Mass..Oct
765
9,265
9,530
30,711
14,833
Jan. 1 to Oct 3 1 .__
Fall River Gas Works
94
6,283
14,077
337
Oo. .........................Oct
33,139
46,456
1,065
281
July 1 to Oct 31 —
Houghton County El Lt.
8,895
5,724
2,187
(Houghton, Mich )Oct
2,188
49,072
26,450
26,250
58,575
Nov. 1 to Oot 3 1 ....
Jamest’n Ohaut & L. E.—
1,930
602
8,474
9,475
July 1 to Sept 3 0 ....
Lehigh < Hudson—
ft
35,055 def.l 1,782
22,025
39,667
July 1 to Sept 3 0 ....
Lowell Eleotrle Light
7,497
1,123
1,355
9,538
Corporation .......Oct
23,012
4,634
27,988
4,549
July 1 to Oct 3 i ___
Minneapolis Gen. Elec­
19,180
13,995
10,364
9,268
tric O o................ Oot
41,972
57,507
37,524
38,556
July 1 to Oct 31 —
g64,104
73,033 def.29,872
g64,578
N. Y. Ont < West... Oct
ft
421,329
634,557
July 1 to Oot 3 1 .... g240,728 2261,640
591,712
553,098
264,391
299,897
Norfolk < West’n....Oct.
ft
July 1 to Oct 31— 1,179,587 1,053,237 2,093,464 2,241,289
Poughkeepsie* E ast—
*1,776
900
750
*3,867
July 1 to Sept 3 0 ....
* After allowing for other income reoeived.
s These are net charges after allowing for other income received.

STREET RAILWAYS AND TRACTION COMPANIES.
G ross

earnings .

Albany < Hudson...
fc
American R’ys. Oo.UAur. Elgin A Ohio. Ry
Binghamton Ry........
Burllngt’n (Vt.) Trac,
Oal. Gas & Electric.
Cent. Penn. Tract....
Ohloago ft Mil. Elec.
Ohio. < Oak Park.....
ft
Cln. Dayton <ftTol.Tr.
Oln. Newp.<ft Oov .Ry.
Citizens’ Ry. < Light
fe
(Musoatlne, Iowa)..
Oleve.A 8o. W.Xr.Oo..
Cleve. Painsv. < E ...
ft
Detroit United Ry..n
Duluth Street Ry
East St. Louis < Sub.
ft
Elgin Aurora < Sou.
ft
Ft. Wayne < Wabash
fc
Valley Traction..b

Latest Cross Earnings
Week or Mi Our’ nl
Year.

PretfM
Year.

/an. 1 to Latest Date
Current
Year.

Previous
Year.

8
8
$
8
September 29,477 30,175 221,919 209,011
November 110.666 103,784 1,312,264 1,247,852
382,890
October... 42,713
202,204
Ootober... 19,431 18,613 211,95i
63,883
66,541
5,828
6,417
October...
October... 378,402 244,279 3,242,109
432,453
Ootober... 41,359 41,896 439,318
Ootober... 55,625 43,307 379,902 237,943
November 68,638 67,036 727,112 737,919
Ootober... 47,911 46,667 420,351 438.153
September 85,966 80,991 755,916 739,249
81,543
88,467
7,941
Ootober... 10,720
44,171 43,656 897,242 373,837
Ootober.
Ootober... 19.75* 18,332 191,946 183,216
4th wbNov 103,947 99,845 4,134,315 4,017,365
4th wkNov 15,430 15,172 565,068 570,207
lotober... 138,035 104,017 1,118,327 859,041
Ootober... 37,946 37,011 379.043 383,151
September

78,669

622,977

>(>38
G ross
EARNINQS.

Geary Street Ry —
Havana Eleo. Ry.Oo.
Honolulu Rapid Tr.
A Land Co..............
Houghton Co. Bt. Ry
Houston Eleo. Bt. Ry.
Illinois Traction Co..
Indlanap. & East Ry.
Indlanap.& Martins­
ville Rapid Tran..
Indlanapolle&North
western Traotion..
Intemat’l Tract. Co.
System (Buffalo)...
Jacksonville Elec.Co.
Kansas City Ry.& Lt.
Lake Shore Eleo. R y.
Lehigh Val. Trao. Co.
Street Ry. Dep.......
Eleotrlo Light Dep.
Lexington R y............
Loadon8t. Ry.(Can.)
Mad. (Wls.) Traction.
Met. West 8ide Elev..
MU. Eleo. R y.& LtCo
MU. Lt. Heat & Tr. Co.
Montreal Street R y..
Mancie Hartford *
Ft. W ayne..............
Musk. Tr. & Light. Co.
Street Ry. Depart..
Electric Light Dep.
Gas Department. -.
Niagara St. Oath. &
Toronto R y............
Norfolk Ry. <feLt. Co.
Railway...................
City Gas Co............
Nor. Ohio Tr. < Lt. Co.
fe
Northern Texas Trac.
Northwestern Elev..
Oakland Trans. Cons
Glean St. Railway...
Orange Co. Traotion.
Feeks.L’t’g&RR.Co.
Fottsv. Union Tract.
Rys Co.Gen.—Roads.
Light Co’s................
Rochester RaUway..
Rooh.A East. Rap. Ry.
Rockford Beloit A
Janes viUe............
St. Joseph (Mo.) Ry.
Lt. Heat & Pow. Co,
Bao Paolo (Brazil)
Tram. L’t & Po. Oo.
Savannah Elect. Co.
Scranton Railwav...
Seattle Electric Co...
Sooth Side Elevated.
Springfi'd & Xenia Tr.
Syracuse Rap.Tr.Ry.
Tamna Electric Co...
Terre Hte.Tr.&LtCo
Toledo Rys. & Light
Toledo < Ind. R y___
fe
Toledo & Western,...
Toronto Railway___
T vln City Ran. Tra*.
Un’ d Rys.of St.Loois
United of San Fran .
Wash. Alex. & Mt. V.
Y oungstown-Sharon

T H E CHRONICLE.
Latest Gross Earnings. I ja n . 1 to Latest Date
Previous
Week or Me (Jur’ ni : Prcv'us Our rent
Year.
Year.
Tear.
Tear.
9
$
*
9
September 14,857 ............
Wk. Deo. 3 I83,till 128,759 11,564,300 11,354,445
October...
October...
September
October...
Ootober...

28.074
17,908
33,015
91.073
20,800

26,102
15,452
38,598
75,947
18,015

October...

9,779

8,896

September

37,109

Ootober
Ootober
Ootober
Ootober

271,024
165,738

227,826
160,550

792,048
181,576

051,455
132,875

••• ••••
#
d 111,281

354,811 138,978 3.479.605 3,339,776
29,359 20,436 240,681
202,289
v l ,864,972
403,900
59,538 55,336 650,769 523,250

Ootober... 45,464 43,865 512,821 530,324
129,255
October... 15,502 15,696 137,280
Ootober... 32,439 30,377 282,256 263,349
146 306
Ootober... 13,646 13,790 150,754
84,824
Ootober...
76,299
8,410
8,325
November 173,704 171,222 L,895,253 1,878,266
Ootober... 278,928 202,917 2,643,722 2,498,514
356,750
Ootober... 38,726 35,313 387,187
Ootober... 222,276 206,601 2,100,671 1,897,743
Ootober...
Ootober...
Ootober...
Ootober...

5,919
3,430
3,984

151,386

16,747

October

78,135
28,257
30,940

78,603
29,535
37,372

191,417

5,496
3,223
4,276

184,075

343,040
Joly.......... 74,237 71,428 372,925
90,708
78,915
7,742
Jaly...........
9,446
741,573
Ootober... 78,013 75,272 747,727
382,866
Ootober... 56,047 47,569 461,91*
November 111,460 107,133 1,167,029 1,131,950
October... 112,496 99,624
9,050
79,869
66,372
9,242
September
100,874
04,535
9,201
9,950
Ootober...
83,197
September 10,843 10,52?
171,568
165,021
October... 17,655 16,204
287,420 267,636
October... 28,553 26,186
20,207
1,942
Ootober...
19,156
2,049
November 118,611 104,887 1,351,858 L,159,349
d 90,566
Ootober... 19,331
Ootober...

10,823

10,734

Ootober...

60,500

55,088

Wk.NovlS
October...
Ootober...
Ootober...
November
Wk. Deo. 4
Ootober...
Ootober...
Ootober.. .
Ootober...
August...
Ootober...
Wk. Dec 3
4th wk Nov
November
October...
November
Ootober...

30,075
48,171
76,387
203,232
127,740
857
71.828
32,708
47,405
150,196
9,152
20,880
44,989
104.536
875,524
595.445
20,134
39,109

23,217
43,697
70,915
186,501
215,097
793
70,016
27,147
44,409
142,651
7*389

d 646,073 d 548,771
450,054 429,775
724,299 690,492
1,911,897 1,725,108
1,385,798 1,488,178

43,682
99,811
592,769
568,690
17*565

1,973,118
3,702,912
6,658,757
5,149,266
211,955

109,061

112,421

705,236 664,684
295,418 260,692
468,047
387,233
1,440,143 1,368,580
183,647
2.218,044
3,928,661
9,269,674
5,512,455
226,877
379.208

t Spanish sUver.
| These are results for properties owned
|
lb These are the combined earnings of all the constituent companies,
d Figures here are from July 1.
n These earnings include the Detroit United Ry., Detroit & Port
Huron Shore Line and the Sandwich Windsor & Amherstburg Ry.
v These figures are for period from June 1 to Oct. 31.

street Railway Net Earnings.—The following table gives

[ V O L . LXXI X.

interest unarges and Karpins.—The following Btueii
railways, in addition to their gross and net earnings given In
the foregoing, also report oharges forlnterest.&c., with tie
sarplns or deficit above or below those oharges.
1loads.
Houghton County St. Ry.
(Hancock, Mich.).Oct.
Jan. 1 to Oct 3 1 ___
Jacksonv. Eleo. Co.Oct.
Jan. I to Oct 31 ___
Niagara Gorge—
July 1 to Sept 30___
Rochester Ry. Oo,..Nov.
Jan. 1 to Nov. 3 0 ....
July 1 to Nov. 3 0 ---Rockford Beloit <t Janesville........................Oot
Jan. 1 to Oct. 3 1 ....
Savannah Electric.Oct
Jan. 1 to Oct 3 1 ___
Beattie Electric Co.Oct
Jan. 1 to Oct 3 1 .. ..
Tampa Elect. Co. Oct
Jan 1 to O ct 3 L ....
Terre Haute Tr&Lt. Oct
Jan. 1 to Oct 3 1 ....

* Int., Rentals, etc.— < l ia l.o f Net E a m 'gs.^
—
—
Current
P revious
C
Current
Previous
Year.
Year,
Year.
Year.
$
$
$
$
3,561
33,787
3,017
30,767

2,123
29,407
3,141
30,040

3,583
20,813
6,385
62,679

4.516
30,704
2.193
36,386

13,310
26,890
293,136
135,018

13,104
25,914
282,465
129,428

‘ 36,652
*22,410
*315,401
*167.668

*35,503
*25,177
*288,403
*145,437

2,697
26,987
10,694
105,017
25,411
245,179
1,885
19,934
9,319
95,428

2,500
25,000
10,449
98,418
22,906
241,155
2,047
20,545
8,399
69,354

2,125
18,703
10,664
87,486
41,626
355,553
11,739
99.925
7,958
65,295

2,217
28,170
6,984
70,398
24,979
255,387
9,477
91,773
7,875
67,601

* After aUowing for other income received,
C a l if o r n ia G as & E le ctric C o r p o r a t io n .
Expenses, int.
Corp.
bond
Sinking
on bonds o f Surinterest.
October— Gross. Sub. Oos.,<£c. plus.
fu n d . B alance.
1904........... $378,402 $283,623 $94,779 $36,458 $12,500 $45,821
1903........... 244,279
179,626
64,653
33,333
12,500
18,820

ANNUAL

REPORTS.

Annual Reports.—The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since the last editions
of the R a il w a y and I ndustrial and Street R a il w a y
Sections.
This index does not include
hronicle

reports in to-day’s C

Ra ilr o a d s , E tc.—

P age.

Alabam a Great S o u th e rn ...........2185
Alabam a & Vicksburg............. — 2384
American Cotton O il................ 2145, 2L55
American M alting......................... -. 2083
Atlantic Coast L i n e ..................2200, 2209
Baltimore & Ohio. ............... .2452, 2471
Bangor & A roostook..................... 20*2
Buflalo Gas ................................
2585
Buffalo & Susquehanna............2081, 2091
Central Pacific ..
2453
Chicago Burl. & Quincy ____ 1950, 1934
Chicago & Eastern Illin ois......— 1951
Chic. R. I. & Pac. R a ilr o a d ......... 1951
Chic. R. I. & Pac. R y . . .. 1700,1716, 195!
Cincin. Ham . & D a y to n .................... 1952
Cincin. N. o . & Texas Pacific......2 1 4 8
Clevelsnd Lorain & W h eelin g..22^5
CLveJand Terminal & V a lle y ....2203
Colorado Fuel & Iron.................... 2146
Consolidated Rolling Stock C o ___ 2586
Detroit & Mackiuac....................... 2145
Detroit Southern............................ 2202
Dominion Iron & 8 t e e l................ 2203
Edison Elec. Ill o f B oston......... 2083
Evansville & Terre H a u te......... 2082
General Asphalt (statem ent June
29, 1904)............................................2586
Georgia Southern < Florida......25fc5
&
Great Northern....... ................. 19i9, 1958
Greene Consolidated Copper......2203
Iowa Central...................................... 2201

.

R a i l r o a d s , E t c .—
Page
Kansas City Southern.......................22012211
La Belle Iron Works......................... 2454
Louisiana & A rkansas...........2082. 2096
Louisville Henderson & St, Louis.2144
Mergenthaler Linotype...................2145
Minneapolis & St. Louis................... 1952
Mobile & Ohio ....................................20*2
Nevada-California-Oregon..............2456
New England Cotton Yarn..............2204
New Or-eans & Northeastern.........2584
New Yore Susquehanna & W est. .1953
Pacific Coast.................. 1954, 2033, 2093
Pullman Company............................. 2083
Rock Island Company
. . . ___ 1950
St. Joseph & Grand Island.............. 2201
St. Louis & San Francisco................ 1951
Southern Pacific .....................2452,2461
Standard Milling................................ 1954
Toledo St. Louis & Western..........2144
Torrington Company .......
2084
Underground Electric Rys. of
London.............................................2145,2153
United F ru it...................................... 2458,2475
United States Glass... ................... 2454
United States Red. & Refining. . 2453
United States Steel Corp. (9 mos.).1953
Vicksburg Shreveport & Pacific.. .2584
Western Maryland............................. 1953
St r e e t R a i l w a y s .—
Boston Elevated Ry..........................2587
Montreal Street R y........................... 2202

White Pass & Yukon Railway*
( Report for Fiscal Year Ending June 30,1904. with the Results
o f the Local Cos . f o r the Year Ending Dec. 31, 1903,)

the returns of Street railway gross and net earnings received

S. H. Graves, President of local companies says in part:

this week. The last general summary which we furnish once
a month, and in which we bring together all the roads from
which monthly returns can be procured, was given Nov.
26, the next will be given Dec. 31.

R a il D iv is io n .—On the rail division we carried 12,683 passengers
[against 16.059 in 1902] and 33,704 tons of revenue freight [against
*8,095 ton in 1902]. The decrease in passenger business is aooouuted
for by the faot that the small merchants and shippers no longer make
personal trips with their goods. Tbe increase in tonnage affords sat­
isfactory evidence of the progress and prosperity of the country.
The improvements in 1903 consisted of two new steel bridges re
placing wooden ones; the practical rebuilding of the big bridge over
the East Fork of the Skaguay River, the filling in of 16 minor bridges
and 6 culverts, the improvement of grades, the widening of embank­
ments, the reduction of curves and thejexfcenslon of sidings. Ail of the
above improvements, with the exception of the steel bridges, have
been included in the year’s operating expenses, together with one-fifth
of the cost of the steel bridges.
R iv e r D iv isio n .—The company’s fleet in 1903 carried 8,787 pas­
sengers [against 7,006 in 1902] and 23,559 tons of revenue freight
[against 21,847 tons in 1902]. We operated 15 steamers on the river
and lakes and held 3 in reserve. Besides these, we operated towards
the close of the season three steamers which had been running in op­
position to our fleet but which we had been able to purohase cheaply.
The season of 1903 was the worst in the history of navigation on the
Yukon. It opened two weeks later and closed about three weeks
earlier than usual. A t no time was there even a fair stage of water in
the river, On Oot. 14 the thermometer fell suddenly to zero and on
the following day to 6 degs. below zero, with the result that 11 of our
steamers, besides a number of soows and barges, were caught in this
sudden freeze up, their cargoes In many instances being more or less
damaged by transshipment, etc. One of the largest steamers frozen up
was abandoned to the underwriters. The damage claims arising from
the constant stranding of our fleet, and from the enforoed use of soows,
and from the sudden freeze up, greatly increased the operating ex­
penses, which were likewise augmented by the reduced carrying
capacity of the boats, due to low water, and by the necessity for re­
pairs, etc. But for these causes the operating expenses would have
shown a large redaction as compared with the previous year.
W in te r M a il Se r v ic e .—Our stages made 213 trips in 1903 between
White Horse and Dawson, equivalent to 72,420 miles, and carried
over 35 tons of mail, 1,259 passengers, eight tons of parcel freight,
ard i77 tons of ordinary freight, without accident or loss. The gross
leoeipts for tne mail service year ended j ane 39, 1993, were $172,828,
and ihe operating expenses were $137,537, leaving after allowing for

* Gross E arnin gs.— ^ ----- Net E arnings.-----—
Current
P revious
Curren i
Previous
Year,
Yean
Yean
Yean
R oads.
$
$
$
$
California Gas < Electric Corp.—See detailed statement below.
fe
Houghton County St. Ry.
(Hancock, M ie h .) . Oct.
17,965
15,452
7,144
0,639
Jan. 1 to O ct 3 1 ....
165,738
160,550
54,600
60,111
Jacksonv. Elec. C o.O ct
29,359
20,436
9.402
5,334
Jan. 1 to Oct 3 i . . . .
240,681
202,289
93,446
66,426
Niagara Gorge b —
July 1 to Sept. 30___
74,311
63,572
49,659
45,507
Oakl’d Trans.Con. bO ct
112,496
99,624
49,624
49,756
Rochester Ry. Oo.bNov.
118,611
104,887
48.629
50,766
Jan. 1 to Nov. 3 0 ___ 1,351,858 1,159,349
602,904
566,740
July 1 to Nov. 3 0 ....
643,700
556,483
299,395
272,988
Rockford Beloit < Janes&
ville...................... Oct
4.822
10,823
10,731
4,717
Jan. 1 to Oct 31___
109,061
112,421
45,670
53,170
Savannah Electric.Oct
48,171
43,697
21,358
17,433
Jan. 1 to O ct 3 1 .. ..
450,054
429,775
192,503
168.816
Seattle Electric Co.O ct
203,232
186,501
67,037
47,885
Jan. 1 to O ct 3 1 .... 1,911,897 1,725,108
600,732
496,542
Tampa Elect. C o ...O c t
27,147
13,624
32,708
11,524
Jan. 1 to O ct 3 1 ___
250,692
295,418
119,859
112,318
Terre Haute TrALt. Oct
47,405
44,409
16,274
17,277
Jan. 1 to Oct. 3 1 ....
387,233
468,047
160,723
136,955
* Net earnings here given are after deducting taxes.
b N et earnings here given are before deducting ta x es.

THE CHRONICLE.

r ' D e c . 10, 1904.]

reserve and depreciation, a profit of $35,290, as against 890,044 for
the previous year. The d'fference is aoeounted for by the termination
of the American mail contracts, as explained in last year’s report.
G e n e r a l C o n d it io n s i n 1903.—The output of gold in the Klondike
has been well maintained on about the basis of the previous year, and
promises to increase with the Increase of large plants for dealing with
the lower-grade gravels on an economic basis by machinery instead of
by hand methods. The Tanana gold field, referred to in my last re­
port, proved better adapted for machine than hand mining. But it
seems destined to become a large gold producer. At White Horse
there was great activity caused by the discovery of the Alsek gold
fields. These are situated about 165 miles northwest of White Horge,
and have proved to be extensive and apparently rloh; but it is difficult
to form an acourate estimate upon the latter point till spring opens
and admits of work being done.
Two new coal fields were opened in 1903 on the Yukon RiverTor the
supply of the Dawson market. One of these is about 50 miles below
Dawson and connected with the river by a railway some 12 miles long.
The other is at Tantalus a few miles above Five Fingers. This coal is
of high quality and lies in a large vein opening directly upon the river
by which it can be floated down to Dawson in barges. I have seen
coke made in a stove from this coal.
The development of the copper properties at White Horse proceeded
steadily during 1903, but was somewhat restricted by lack of oapital.
Large ore shipments have been made from the Arctic Chief and the
Copper King during the winter with results so satisfactory that it is
hoped the neoessary oapital may be forthcoming for opening up these
and other neighboring copper mines on a large scale.
The season of 1903 in theAtlin district was attended by renewed
prosperity and increased gold output. Quartz development went
quietly on in the Atlin and Taku district, but here as elsewhere was
restricted by lack of oapital. Several properties expect to be in a
position to ship ore duriDg the coming season, notably a silver lead
mine on Taku Arm, which, stimulated by the Canadian bounty on lead
ores, expects to ship largely.

following are the profit and loss account of the parent
company for the years ended June 30, the statement of earn­
ings and expenses for the local companies for the calendar
years and the balance sheets of the parent company as of
June 30:
PROFIT AND LOSS ACCOUNT, PARENT COMPANY, YEAR ENDED JUNE 3 0 .

Credit—
Int. on securities local cos.
Dive, on shares local cos...
Miscellaneous......................

1902-03.
£
52,944
73,065
506

52,944
68,270
1,171

Total............................... 122,385
Deduct—
37,335
Int. on 1st M. con. deb. stk.
Int. on navigation deb____
15,333
_____
Int. on bills and advances..
3.793
Management cnarges..........
4,533
Income tax...........................
3,254
Miscellaneous................. .

34,452
287,029
23

214,828

321,503

37,335
15,334

£

55,522
159,243
63

126,515

1903-04.

35,512
15,333
893
6,815
12,332
6,976

36,401
2,310
2,258
6,112

4,495
4,841
4,100

1901-02. 1900-01.
£

£

13,364

66,105
77,861
Total deductions............
64,248
60,445
60,410
136,967
Balance, to balance sheet..
58,137
261.058
Dividends........................... * (4)55,000 (5)68,750 (5)68,750 (5)55,000
Surplus . . . . . . . . . . . . . . . . .
Balanoe brought forward..

3,137 def. 8,345
44,326
66,128

Total surplus............ .
Stock dividend Ang,, 1901.

47,463

Surplus to profit & loss.

47,463

68,217
289,373

206,058
83,315

57,785
357,590
............1251275.000
'
'

289,373

57,785

82,590

289,373

‘ Including Jan., 1905. dividend.
EARNINGS OP LOCAL COMPANIES (CALENDAR YEAR) RAIL DIVISION.

Earnings—
Passengers...........................
Freight..................................
Mall, express, etc........... .

1902.
1901.
1900.
$
$
$
264,855
252.933
250.860
734,376 1,443,713 1,773,751
76,072
57,769
74,535

1903.
$
182,658
783,661
61,417

Gross earnings.............. 977,736 1,057,000 1,772,718 2,099,146
Operating expenses—
Maintenance of w a y ............. 21 6,271
225,889
326,589
316,745
Maintenance of equipment.
42,465
42,050
60,915
65,013
224,530
283,754
Conducting transportation. 213,300
315,387
69,372
General expenses................
59,781
74,497
46,798
Operating expenses. . . . 551,817
Net earnings......................... 425,919
Deduct—
Manag. ex., int., disc. & ex..
losses, deprec’n, etc. (net)
30,659
Total net Inoome..........

561,841
743,945
745,755
495,159 1,026,966 1,355,201
101,660

161,961

393,500

395,260

865,005 1,137,793

217,408

EARNINGS RIVER DIVISION.

1902.

Gross earnings.......................
Operating expenses.............

1901.
(8»ios.)
$834,214 $817,494 $850,079
559,480
555,404
573,443

Net earnings.................. .
Depreciation..........................
Miscellaneous.........................

$278,810 $258,014 $276,630
$92,080 $104,730 $100,960
35,841
29,095
39,711

1903.

Net Inoome......................

$113,573 $189,835
8YNOPSI8.

1903.

1902.

1901.

1900.

*

$

$

$

Net Inoome of railway............. ... .395,260 393,500 865,005 1,137,793
do
do river division.......157,634 126,766 *139,835
............
Mall service.................................... 35,290 t90,045
..............................
Total net Income..................... 588,184 610,311 1,004,841 1,137,793
Int. on morts. (all, or nearly all,
held by parent company).........256,780 256,781 235,406 102,773
Available for dividends......... 331,404 353,530
*8 months only.

769,434 1,035,020

114 months.

BALANCE SHEET JUNE 3 0 WHITE PASS & YUKON RY., LIMITED.
1904.
1908.
1904.
1903.
A sse ts—
£
£
Liabilities—
£
£
Shares & securities
S to c k ............................1.875.000 1,875,000
of local companies.2,371,Oil 2,874,011 let M. 6 p. c. consol.
Due from local com­
deb. stock.......... .. 746,702 746,702
panies.............. . ..
87.8S2
88,r51 Navigation dehen... 266,655 255.55>
Cash..............................
1.167
81,918 Sundry creditors___
243
3,648
Sinking fund..............
Sinking fund ............
82,362
80,713
32,363
17,264
Miscellaneous....... ..
17,421 ............
Profit and loss (sur.) 11)2,460 186,586
T o ta l...........
- V . 77, p. 2166.

2,512,328 2,624,685

T o ta l.................... 2,512,328 2,624,696

26S9

Long Island Railroad.
( Report for Fiscal Year Ending June SO, 1904J

President William H. Baldwin Jr. says in substance:
G e n e r a l R e s u l t s .— The

results show an increase in gross earn­
ings of $394,856, or 6*13 p. o.; an increase in tonDage of 10 97 p. e.
and in ton mileage of 2 54 p. c. The freight train mileage shows
an increase of 11'25 p. c.; the number of passengers carried an in­
crease of 4 54 p. c.; the passenger mileage an increase of 4*79 p. o.
and the passenger train mileage of 5*28 p. o
The operating expenses show a large increase, $804,002, or 16’79
p. e., due to increased cost of iuel and other supplies and increased
freight oar service charges and advances in the rates of wages. The
issue of the refunding bonds for the purpose of providing additional
facilities also Imposed an additional charge, In advance of the rev­
enue that will be assured on their completion, and to these two causes
the deflolt for the year is due.
Heavy expenditures for improvements continued throughout the
year, aggregating $2,235,129, of which $2,151,003 was charged to
“ capital account” and $84,126 to the extraordinary expenditure fund
available for this purpose from previous surplus earnings. The
charges to oapital acoount, $2,151,003, were as follow:
Real estate. ....................................................................................$517,219
54,149
Portion of oostof new 100-lb.rails............ ..............................
Double track, Winfield to Jamaica and Rockaway Junction.. 78,607
Block signals, Valley Stream to Freeport..................................
5,754
Changes in signals, etc., in Long Island City yard................
279,701
Second track, Valley Stream to Lawrence................................ 11,199
Account elimination of grade crossings.................... ............... 10,972
New float, bridge, pontoon and transfer bridges at Long
74,560
Island City................... ....................... ............. .....................
Third track, Far Rockaway to Hammels....................................
10,171
Miscellaneous Improvements and additions.......... .................. 288,303
37 locomotives, 400freight cars, 30 work ears..................... .
820,368
A t l a n t ic A v e n u e I m p r o v e m e n t .— Further charges amounting to
$946,841 were made to oapital aocount duriDg the year, being your
company’s proportion of the cost of the depression and elevation of
tracks on Atlantic Ave., Brooklyn, the total of which aggregated
$1,908,027 at the close of the year. Satisfactory progress has been
made on this Improvement, division No. 2 having been put in service
Nov. 15, 1903, thereby releasing 39 surface flagmen; and division
No, 3, one of the depressed sections, will be put in service Oot, 1,1904,
thereby releasing 23 surface flagmen. It will require about 14 months
to complete the terminal facilities at Flatbush Ave,, Brooklyn. In
addition to the amount specified above as paid by your company,
the city of New York has now praotieally paid its maximum propor­
tion of the cost of the Atlantic Ave. improvement, $1,250,000, so that
the balance of the oost, estimated at about $1,000,000, will have to be
borne entirely by your company.
R e f u n d in g M o r t g a g e .— In order to provide for the proper hand­
ling of local traffic, the elimination of grade crossings and the electri­
fication of a portion of the system, and also meet the large outlay for
double-track, yards and other terminal facilities required by the
through traffic to be exchanged between the systems oi the Pennsyl­
vania and New York New Haven & Hartford railroad companies over
your line, the creation of a 4 p. o refunding mortgage was authorized
in the sum of $45,000,000, ot which $26,605,000 have been reserved
to provide for all underlying liens, and $10,000,000 of the residue
thereof sold, to defray the oost of the expenditures above enumerated,
and to refund the Metropolitan Ferry bonds, whioh were redeemed
May 1st, 1903. The Pennsylvania RR. Oo. having guaranteed the
payment of the prinoipal and interest of the $10,000,000 of bonds
referred to, the same were sold at a satisfactory prloe. This mortgage
is of the same authorized amount as, and practically takes the place
of, the unified mortgage, which was too restricted in Its scope to meet
the changed conditions of the property, and under whioh no further
issues of bonds will be made. Your board has authorized the further
issue of $2,813,000 of refunding bonds in exchange for a like number
of unified mortgage bonds held In the treasury against construction
and equipment expenditures heretofore made, and also the issue of
$1,200,000 refunding bonds for the same amount of unified bonds
held by outside holders.
I n c r e a s e d F a c i l i t i e s .— The steamer Quaker City was purchased
for use as an additional ferryboat between Pier 13, East River, New
York, and Long Island City.
Inoreased freight facilities have been provided at Long Island City
at a cost of $110,000, inoludtng two modern float bridges, whioh will
facilitate freight movement and reduce the oost of operation, In­
oreased facilities have also been provided in the passenger yard at
hat point, thus relieving the congestion heretofore prevailing.
G r a d e C r o s s is g s . - Under an Aot of the Legislature of May 9 ,19 0 3 ’
the grade of the New York Brooklyn & Manhattan Beach Railway
between Bay Ridge and the line dividing the boroughs of Brooklyn
and Queens is to be so revised as to avoid crossings at grade. One-half
of the expense is to he borne by the oity and one-half by your com­
pany; but the maximum amount to be paid by the city is not to exceed
$ 2 ,6 0 0 ,0 0 0 . The work is now under way, and to June 30, 1904, your
company has expended $8,725.
E l e c t r i c a l E q u ip m e n t .— The work of electrifying your lines be­
tween Flatbusb Ave. and Jamaioa, Jamaica and Belmont Park at
Queens, Jamaioa and Metropolitan Race Track at Springfield, and
between Woodhaven Junotion and Rookaway Park, bas progressed
satisfactorily, and it is expected that trains will be operated eleotrloally between those points in June, 1905.
O u t l o o k —A material reduction in the oost of operation for ihe
coming year is expected in oonneotlon with maintenance of way and
maintenance of equipment, the roadway and equipment and the prop­
erty generally being in excellent physical condition. With the com­
pletion of the improvements already Inaugurated, conditions favora­
ble to economical operation will obtain, and with the large volume of
additional traffic which your company may reasonably bejexpeoted to
handle, satisfactory results should be obtained
L e a s e s , E t c .— The New York & Rookaway Beach Ry. and the Long
Island RR., North Shore Branch, which were for several years oper­
ated under temporary arrangements, have been leased to your com­
pany for fifty years from July 1,1904.
The New York & Rookaway RR., the entire Issue of whose bonds
was owned by your company, was unable to pay the prinoipal of
those bonds at maturity, and was therefore Ssold under foreclosure
sa'e on May 27, 1903, and the property purchased In the Interest of
your company and reorganized as the Jamaioa & South Shore RR Co.

Operations, earnings, expenses, charges, etc., have been as
follows:
o p e r a t i o n s , e a r n in g s , e t c .

1903-04. . 1902-03.
Mile s of ro’d June 30
392
892
Operations No.rev.pass.carried. 18,348,422 17,552,060
No.rev.pass oar.lm.264,739.967 252,626,924
Rate per pass.per'm. 1*440 ct8. 1*422 cts.
Tons rev. fr’ght oar. 2,335,448
2,104,598
do
do
1 mile 67,082,658 55,669,424
Rate per ton perm. 3*370 cts.
3*205 cts.
Av. train load (tons)
119 06
129*16
Earn, per frt.tr’n m.
$4*01
$4*14
Earn.per pass.tr. m. 97*5 ots. 96*8 ots.
Gross earns, per m..
$17,449
$16,441

1901-02.
396

1900-01.
380

16,611,102 14,520,218
240.683,822 198,793,891
1*413 ots. 1*329 cts.
1,945,854
1,642,937
50,859,781 42,289.092
3*158 cts.
S*2t>7 ots.
120*38
110*53
$3*80
$3*62
94*8 cts.
87*7 cts.
$14,858
$13,305

2640
1903 04.
E arn in gs—
$
Passenger.................... 3,842,910
Freight........................
1,923,498
Mall, express « mlfl. 1,070,040
fe

1902-08.

1901-02.

1900-01.

$

$

$

3,592,814
1,784,050
1,064,322

3,401,228
1,605,975
87«,404

2 ,6 4 ’ ,184
1,381,481
8c9,680

6,440,992

5,«8J,807

4,862,347

913,665
724,889
3,767,910
185,507

735,8?9
592,592
3,291,162
168,335

710,697
585,234
2,724,759
140,860

621,073
467,352
2,29*,627
129,653

T ota l. 5,591,971
P.c.op.exp to earna.
(81*80)
Net earnings. 1,243,877
Net from lerries.&c.
143.209
int. on Invests, <feo..
158,322

4,787,968
(74*34)
1,663,024
199,936
137,128

4,111,550
(69*38)
1,772,057
226,104
106,584

3.516,705
(72*3)
1,845,642
140,009
145,901

1,545,408

1,990,087

2,104,745

1,631,552

1,168,269
401,056
213.835
2,287
35,167

967,068
442,851
239,515
3,381
31,683

860,613
484,295
210,832
4,749
.............

837,280
322,800
258,700
16,962
.............

T otal...................
Expenses—
Matnt way A struct.
Mftint.Of equipment
Conduct, trausp'n..
General....................

Tot. net income.
D ed u ct—

[ V O L . L X X 1X

TIIE CHRONICLE

Interest on bonds...
Kent.ofleased lines.
Taxes...... .
Miscellaneous..........
Int. on notes, e tc ...

6,885,848

Total...................
1,820,613
1,684,499
1,560,489
1,435,743
Balance..................... def.275,205 sur.305,588 sur.544,258 sur.193,809
30.
1904.
1903.
1902
1901
A 8 S C t$ -‘
$
$
$
$
Road and equipment....29 ,7 22 ,4 39 27,57i,436 26,335,261 25,511,569
Atlantic Ave. Improved.
1,908,027 961,186
............
Leasehold estates............ 6,«38,000 5,638,000 6.448,000 6,448,000
Ferry property..............
2,744,000 2,744,000 2,741,000 2,744,000
Exp. river & har. equip..
237,309 237,309
237,309
186,410
Railroad & other stocks
and bonds...................... 5,612,303 5,764,663 2,994,213 2,791,970
Real estate mortgages...
226,488 246,488
226,488
206,488
Cash on hand.................... 2,946,639
152,377
174,867
179, L91
Agents, individuals, etc..
560,364 824,679
516,615
310,194
Materials and supplies..
588,570
333,273
293,292
224,719
Bills receivable................
889,955 1,223,750
630,250
610,2^0
Advances.......... ............ . .
617,075
558,061
727,751
273,097
165,829
150,800
92,187
82,907
Miscellaneous...................
Profit-and loss.................. 1,758,684
843,887
918,515
907,450
GENERAL BALANCE SHEET J ONE

Total a s s e t s ............ 53,615,683
Liabilities Capital stock. ...................12,000,000
Bonds(8eeRr.&lND.SEC.) 34,777,703
Sec’s leasehold estates.. 4,138,000
Bills payable.....................
160,000
971,088
Real estate mortgage___
Interest and rentals.......
446,540
Pay-rolls and vouchers..
740,163
Extraor’y expend, fund.....................
Miscellaneous and taxes.
382,190

47,249,908 42,338,778 40,478,247
12 ,0 0 0 ,0 0 0 1 2 ,0 0 0 ,0 0 0 12,0 0 0 ,0 0 0

25,486,203 21,910,703 21,210,703
4,138,000 4,948,000 4,948,O0J
3,465,990
360,000
695,000
458,738
448,738
231,238
314,188
259,219
2^0,291
724,937 1,125,147
385,383
84,126
533,240
195,809
577,726
703,732
511,82 2

Total liabilities.......... 53,615,683 47,249,908 42,338,778 40,478,247
—Y. 79, p. 2147, 1266.

Indiana Illinois & Iowa Railroad.
( Report for Fiscal Year Ending Jane 30, 1904 )
P re sid e n t W . H . N e w m a n sa y s :

—”

As compared with previous year, freight earnings decreased 9 38 p.
o., due to decrease in through traffic, particularly west-bound manu­
factured products. Passenger earnings increased 3 12 p. c.; miscel­
laneous earnings increased 64*19 p. c., mostly from receipts from
rentals of locomotives. Expenses for maintenance of way and struc
tures include extraordinary items of $28,320, partial oost of new plate
girder bridge over the Kankakee River at Kankakee, and $10,116,
cost of replacing Vermillion River bridge which was destroyed by
cyclone in Jaly, 1903.
The equipment has been maintained in good condition, but at
greater oost than last year, owing to increase in wages and price of
materials. The expense of conducting transportation increased $12,350, mainly due to increases in wages and price of coal. The cost of
road was increased $30,983 by additions and betterments, mostly
additional side tracks, fael stations and stock yards.
On May 1, 1904, the Chicago Milwaukee & 8t. Paul Ry. commenced
to operate their trains over the tracks of this company between Seatonvllle and MoNabb, in accordance with agreement mentioned in last
year’s report.

Statistics.—Operations, earnings, charges, etc., have been
as follows:
OPERATIONS, EARNINGS, EXPENSES AND CHARGES.

1903 04.
1902-03.
190102.
1900 01.
Aver, miles operated
250
253
252
266
Operations—
Tons hauled (rev.).. 1,817,207
1,987,279
2,143,861
1,685,778
do
do 1 m.(rev.)217,212,^35 242,346,220 255,061,039 184,318.145
Av. rate p. ton p. m. 0*050 cts.
0*643 cts.
0 302 cts.
0*683 ots
Pass, carried (rev.).
246,000
229.965
218,248
214,634
Pass, carried 1 mile. 7,336.405
6, 318,841
6,989,918
6,423,685
1*672 cts.
1*624 cte.
Rate p. pass p. mile 1*746 cts.
1 •965 Cts.
E arnings $
$
$
$
Freight.................................1,412,805 1,558,975 1,531,496 1,258,352
124,190
116,839
Pastenger....... ................... 128,065
105,400
61,637
49,482
52,503
Mail, express and misoel.
89,451
Total earnings............. 1,630,324
Expenses—
Maint. of way and struct. 32 -<.703
Maint’noe of equipment.. 190,925
Conducting traneportat'u. 680,391
General expensed..............
50,698
T axes....................................
63,174

1,74.7,802

1,700,817

1,416,255

379,484
3 60,332
658,010
50,083
57,730

230,155
133/202
746,987
52,480
64,594

158.459
95,635
562,308
53,16*
52,494

Total expenses...... ...1,31 3,89 4
P. c. of expenses to earns. (80 59)
Net earnings........................ 316,430

1,265,669
(72-41)
482,133

1,225,418
(72*05)
475,400

922,060
(65*10)
494,194

INCOME ACCOUNT.

1903-04.
1902-03.
1901-02.
Net earnings......................................... $316,430
$182,133
$475,400
Charges—
Interest on bonds................................$194,000
$194,000
$184,783
Rentals.................................................. 20.000
2 ) 000
20,000
Miscellaneous.......................................
315
134
3,001
Dividends......................................(2%) 100,000 (4%)200.000 (4%)200,000
T o ta l..............................................$314,315
$2,115
Surplus for year.................................

$414,134
$67,999

$407,785
$67,615

GENERAL BALANCE SHEET JUNE
1904.
1903. I

I

Assets—

t

Liabilities—

30.
1904.

1903.

f

I

Road, equip., etc. .10,36 1 .698 10.339.201 Capital stock......... 5,000 0)0 5.000,000
Elkhart extension
48.340
44.46K B o n d s........................ 4,850,0 0 4,860 000
Lan ds.....................
13369
23,851 lo t. due, unpaid..
97,1/80
97.240
Mater. A supplies
217,^21
131,904 Traffic balan ces...
127.H71
96,940
Cash. incl. for lo t.
208.600
3^9,114 Aud. pay-rolls.etc.
1^-3,979
194,185
Due from a gen ts..
05.9S3
84.624 , M u cel. acci. p a y ..
84,969
94,763
AcctS. collectible.
109.913
80.739 Taxes, not due ..
16.628
16,292
Stocks o w n e d .......
3,000
8,000 Bills payable
...
100.000
......
Miscellaneous.......
KH60
........... Incom e a c c o u n t...
691,140
689.025
Total...................11.148,058 11,037,451 !
- V . 79, p. 1012.

Total ................... 11,148,058 11.037,151

Maine Central Railroad.
( Report for Fiscal Year Ending June SO, 190/+.)
P r e sid e n t L u c ia s T u t t le
s in c e s a y s in p u b s ta n c e :

in

th e

report

is s u e d s o m e t i m e

G e n e r a l R e s u l t s —The gross earnings increased during the year
$257,137. There was an Increase In operating expenses ol $219,277,
of whloh $1~0 3 74 was due to general advanoes in wages. The more
Important items Inoluded lri operating expenses for maintenance were :
3,515 tons of new rails laid In main track and 2,242 tons of re-lay rails
In branches and sidings, $58,738; raising and ballasting 62 82 miles of
track, $46,539; repairs of roaibed and track, Inc udlng 12 73 miles
new sidings, $529,042; 2 5 6 ,5 6/ cross and switch ties laid, $82,713;
repairs and renewals of bridges, including 975 fee: of new steel bridges,
$70,132; repairs of fences, Including 28 36 miles rebuilt, $ 14 ,-86 ; re­
pairs of locomotives ami cars $142,332 ; repairs of marine equipment,
$23,750 ; new equipment. $740,237.
N e w R e p a ir bh ops .—The work of replacing the company's oar and
engine repair sh ps at Thompson’s Point, Portland, da ne, which
were destroyed by lire in April, 1903, has progressed satisfactorily.
The insurance money and the appropriation referred to In the last
annual report have been expended, and an additional appropriation of
$75,000 has been included In the year's operating expenses in order to
complete the works and to equip them with modern machinery and
tools. The oapaolty of these shops is maoh greater than that of the
old plant.
C a p it a l A ccounts . - N o additions have been made to the co n stru c­
tion and equipm ent accounts during the year. The oost of ail addi­
tions and Improvements, inolnding]4 new station buildings, new engine
house, new freight house, 4 new coal sheds, etc., have been included
in operating expeuse account. No changes have been m ade In the
capital stook and funded debt.
P urchase of W ashington Co u nty R a i l w a y —The purchase of the
entire capital stock or the Washington Coanty Ry. Co. was consum
mated as of Jan. 1st, 1904. By the terms of purchase the Maine
Central RR. Oo. guarantees the payment of the $ >,500,000 of 3Lj p. c.
bonds, principal and interest, as the same shall fall du*, and as Its fall
compensation therefor* the owners have delivered to the Maine Central
all of said $2,500,000 of capital stock, together with $250,000 of said
mortgage bonds.
Th8 Washington County Ry. is operated as a separate organization,
and from the date of foreclosure sale Deo. 17, 1903, to June 30, 19 04,
(the lean months of its fiscal year), produced a balance of $37,431
above operating and maintenance expenses applicable to he payment
of the flist half-yearly interest upon its bonds, leaving a deficit of only
$6,319 to be earned subsequently or supplied by your company. This
result is satisfactory evidence that the property will be able to main­
tain itself and will in the near future become not only increasingly
important as a iraffi) feeder, but a valuable addition to your treasury
assets,

Statistics. —

compiled for

T h e e a r n in g s , e x p e n s e s and
th e C hronicle a s follows:

charges have been

EARNINGS AND EXPENSES.

1903-04.
190203.
1901-02.
1900-01.
Miles oper. Jnn9 30.
816
816
816
816
Operations—
No. tons car’d (rev.) 4,454,794
4,244,227
4,049,412
3,740,709
do 1 mile (rev.)363,389,837 341,087,600 330,460,107 299,114,181
Rev.train load (tons)
25 2*66
234*18
226*19
211*85
Av. rate p.ton p.mile
1*09 ots.
1*13 ots.
1*11 ots.
1*15 cts.
Total pass, carried.. 3,240,181
3,083,604
2,871,398
2,633,331
do
do 1 m ile.115,966,451 111,901,235 104,882,565 97,934,328
Passengers per train
55*84
54*24
52 85
50 24
a v , rate p. pass. p. m.
2*03 ots.
2*05 ots.
2*07 ots.
2 1 6 ots.
Earnings f r o m —
$
$
$
$
2,401,042
2,338,688
2,217,071
2,137,163
Passengers...............
Freight....................... 4,045,094
3,893.778
3,6*9,242
3,426,934
Express and mails..
327,425
308,694
287,9 9 i
262,304
Total...................
6,773,561
Operating expenses—
Gen’i expenses, etc.
209,200
Gen exp. of transp’n
286,700
Pass, transp’n exp .
382,922
Freight transp. exp.
594,499
Motive power exp..
1,520,234
Maintenance of oars
276,307
Main, wav & stmots.
1,091,414
New equipment.......
740,237
Safety appliances...
.........
Taxes..........................
240,000

6,541,160

6,194,305

5,326,401

180,833
245,218
377,083
587,725
1,433,293
262,729
1,153,466
641,920
.........
226,590

181,176
243,794
365,978
590,614
1,199,662
252,049
1,081,192
637,796
.........
216,878

181,557
280,932
346,667
512,520
1,078,938
213,868
1,206,895
114,928
26.034
197,345

Total...................
Net earnings............
Other income...........

5,341,543
1,432,018
218,061

5,108,857
1,432,303
193,324

4,769,139
1,425,166
153,857

4,159,634
1,666,717
134,535

T otal...................
1,650,079
Deduct Interest.....................
643,110
Rents..........................
545,876
Dividends................. (7)348, S48
Sinking fund............
29,440
Knox. & St. L stook
charged o ff......... .
.........

1,625,627

1,579,023

1,801,252

Total...................
Surplus......................

1,566,774
83,305

643,110
643,110
604,222
545,876
5 4^ 876
592,922
(6)298,575 (6)298,566 (6)298,554
29,440
29,440
29,440
......

.........

200,000

1,517,001
108,626

1,516,992
62,031

1,725.138
76,114

GENERAL BALANCE SHEET JUNE 3 0 .
1903.
1904.
1904.
1903.
A QQPtx—
$
L ia b ilitie s —
$
I
J
4,988,000
Stock(RY.& I.Sec.) 4,,968,00)
Construction a n d
equipm ent........... 17,180,487 17,180,437 B d s .(R Y . & I.Sec.)12 ,492.192 12,442,192
402.944
390,017
688,476
88*,47« Current liabilities.
Stocks and bonds.
301.105
462,450
333.963 Aud. vouch , etc ..
50.3,001
Cash . . .
.........
Notes receivable.. 1,201 618 1,059,923 Int., rents, taxes,
385,634
S?>9,715
etc., not due . . .
Materlalsand sup­
104,984
104,934
7*8,513 Sundry lease acct.
757,332
plies—
0S,S32
100,000
135,860 Injury fu n d .............
106,057
Awents &cond t ’rs
743,036
803.12*
272.624 S nkiDg funds. . . .
278.292
Traffic balan ces...
493,796
08*,0< 0
Equipment a c c t...
Companies and in ­
371,305
283,209
149,320 Im provem ’t a c c t..
130,555
dividuals...............
170,059
263,904
743.C85 Contingent fu n d ..
8)3.128
Sinking fu n d s.......
179,917
199,964
33,2:8 Other acc >uuts___
29,194
Other item s...........
250,000
Wa8h.Co.bds.guar.
280,094
283,115
Profit and loss.......
T o ta l................ .21,079,289 20,987,94S
—Y . 79, p, 1328.

T o ta l....................21,679,289 20,937,948

THE CHRONICLE.

D e c . 10, 1904.]

2641

serve and CoDneoting gas companies, consisting of; 53,886 acres of
leaseholds, 58 gas wells, 36 miles of 12 in. and 7 5 % miles of 16-in.
main line.
( Report for Fiscal Year Ending June 30, 1904.J
The underlying companies own distributing systems and are now
V ic e -P r e s id e n t a n d G e n e r a l M a n a g e r Danaway says in supplying gas through meters to 44,200 consumers in Warren and
Bradford, Pa., and in 38 cities and towns in Ohio, having a population
su b sta n c e :
of 250,000. They are also delivering at the city limits and supplying
G e n e r a l R e s u l t s —The physioal condition or the property haa been
gas to 5,956 consumers, on a favorable percentage, through distrib­
fully maintained, notwithstanding the fact that it suffered severely by uting systems owned by other companies in the following cities in
heavy rains and washouts during February and March, 1904. The Ohio; Sandusky, Delaware, Mt. Vernon, Nelsonville and Granville. In
severe storms caused almost complete cessation of operation for some addition they are selline and delivering gas to other companies at a
fifteen days, leaving the country roads beyond the terminus, upon central point in the field, receiving there fore $116,262 the pasr year.
which we are dependent for a large portion of oar traffic, in an impass­
Gas Su pply .—A t present three sources of supply are relied on, viz.:
able condition for a more extended period. The equipment of the road
(1) The Sugar
Field, looated ;in Falrfiald
coun­
has been improved. LOfl June 3 0 ,1 9 0 4 , the oompany owned 7 loco­ ties, Ohio. Has GroveIn uss for a number of yearsand H >oktngare be­
been
Its limits
motives, decrease 1; passenger oars, 8, decrease 2; freight oars, 85, ing extended somewhat from year to year and considerable new drill­
increase 11; service cars, 2 J, increase 1], The weight capacity of the ing is being done. It will prodnoe large quantities of gas for many
freight oars is being increased from 40,000 lbs. to 59,000 lbs.
years to come.
Bonds to the amount of $7,000 were purchased by the trustee for
(2) Homer Field, located in Lincoln and Knox counties, Ohio; is
account of sinking fund and duly canceled.
new,it being but a little over two years since It was first utilized Com­
P u r c h a s e o f S i e r r a V a l l e y s R t . —T his oompany, some time since, paratively lit le gas has been drawa from It. Ia extent it Is one of
Obtained oontrol of the Sierra Valleys Ry. (3 ft. gauge), which road the largest known fields, being already developed over an area 16
connects with the Nevada-Galifornia-Oregon Ry. at Plumas Junction miles la length and 15 miles wide, and is not yet defined. The aver­
and extends through Beokwlth Pass, westerly 37 miles, through the age wells of the field have a volume of 2,500,000 to 3.000,000 oublo
towns of Beckwith and Oiatrville to Mohawk. Advances were made to feet. This oompany, through its underlying company, the Logan
the Sierra Valleys Ry. Co. amounting at present to $217 ,584 , whloh Natural Gas & Fuel Oo., has over 80,000 acres of leasee in and sur­
amount was used In payingoffloans and liens on the property, making rounding this field, and 95 completed gae wells thereon.
improvements and for the construction of the extension of some 7
(3) The Lewis and Harrison counties, West Virginia, field, is very
miles of road from Clairville to Mohawk, into the dense timber region important. The Reserve Gas Co. holds 53.886 aores of leaseholds in
of Plnmas County, Cal. While the Sierra Valleys Ry. is operated the field and 58 completed wells. The wells are phenomenal for their
independently, its control makes it an important feeder of passenger great volume and high rock pressure. The completed wells aggregate
and freight traffic for this oompany.
a daily open flow capacity of approximately 375,000,000 cubic feet.
E x t e n s i o n S u g g e s t e d .— Owing to the uncertainty of teaming No gas whatever has been taken from this field, and from present in­
between Madeline, onr northern terminus, and the point of origin or dications it can be held as a reserve for several years before it will be
ultimate destination of the greater part of our traffio als i lu order to necessary to use It.
meet competition through other avenues into our territory, and for
E arnings. —The earnings for the seven months ending Aug. 1 were
other obvious reasons, an extension of the Nevada-Oalifornia-Oregon approximated $1,400,000. A conservative estimate for the calendar
Ry. from Madeline to Alturas, 40 miles, is earnestly recommended.
year 1904 Indicates:
Of the 40,280 tons carried last year, live stock furnished Gross earnings of about— ........................................... .......... $2,250,000
All expenses, including drilling, lease, rentals, eto., will not
18,835 tons and inmber and cord wood 17,608 tons.
exceed..... ............................................ .......... ..........................
720,000
Statistics,—Operations, earnings, etc., have been as follows:

Nevada- California-Oregon Ry.

OPERATIONS, EARNINGS, ETC.

Operations—
Torn carried................

1903-01. 1902-03. 1901-02. 1900-01.
40,2 8 0
42,209
4 0 ,334
42,688
do
1 mile....... „ ............3,187,409 2 ,9 14.389 2,5 6 5 ,9 4 9 2 ,702.476
Rev. per ton per mile (m ills).
3-956
4-562
4-234
4-012
Passengers carried........ . ..........
14,280
12,615
11,551
8,619
do
do 1 m ile........ 930,973 867,562
7 4 8 ,8 9 0 546 ,4 1 4
Rev. per pass, per mile (mills) 5-038
4 '7 9 9
4-440
5-009

Earnings—

Freight..............................................$ 1 26 ,084 $13 2 ,9 6 0 $ 1 08 ,643 $108 ,421
Passenger..................................
46,902
41,6 3 0
33,023
27,371
Mail, express and miscel
21,849
2 1 ,707
17,728
15,388

Total earnings.................. $194,835 $196,297 $159,394 $151,680
Expenses—
Malnt. of way and structures $2 4,237 $18,951 $29,257
$22,340
Maintenance of equipment...
19,824
21,166
14,378
13,715
Conducting transportation..
51,654
50,762
44,549
45,177
General expenses....................
17,485
14,170
15,394
14,890
Total expenses.....................$L13,100 $105,049 $103,579 $96,122
Net earnings.............................. $81,735 $91,248 $55,815 $55,553
Deduct—
Interest....................... $26,067 $27,650 $24,961
Taxes..........................
6,065
5,335
5,221
....
Sinking fund ............
6,290
4,870
..............................
Total....................................
Balanoe, surplus.....................

$38,422
$43,313

$37,855
$53,393

$30,182
$25,633

BALANCE SHEET JUNE 3 0 .

1804.

1003.

A ssets—
S
$
P roperty a ccou n t. ..2,799,273 2.812,981
Bonds o w n e d ............ 103,000 103,000
700
700
Stocks o w n e d ............
Cashier.........................
24,110
16,481
D ue from a g e n t s ___
2,502
2,021
Individuals and co s.
30,201
24,040
U. S. G overn m en t P. O. D epartm en t..
3,320
2,072
Sierra V alley R y. Co. 217,684 205,615
M aterial a c c o u n t s ...
8,769
5,852
M iscella n eou s...........
3,297
789
Surplus a c c o u n t ... .
80,000
.

T o t a l .....................3,222,878 3,175,018
- V . 79, p. 2456.

1904.
L ia b ilitie s —

$

1903.

%

Sto ok. c o m m o n ........ 1,460,000 1,450.000
Stock, p r e fe rre d ....... 750,(J00 750.0 0
B o n d s ........................... 622,000 629,00 >
A ccru ed in terest.......
4,325
4.3S3
10,004
6.073
V o u ch e rs .....................
P a y -r o lls .....................
5,006
5,007
U nclaim ed w a ges......................
497
H osp ita l fu n d . .........
1,750
1,394
22,722
19,939
N et traffle balances.
M oran B ro s ............... 200.937 199.144
P rofit and lo s s .......... 166,045 110,680
T o t a l . . . : ..............3,222,878 3,176,0:8

Union Natural Gaa Corporation.
( Official Statement o f Sept. 1, 1904J
L, D, Speer & Co. of Pittsburgh, Pa., are plac­
ing $1,503,0)0 of the company’s $3,000,000 collateral trust
6 p. c. gold bonds at 101 aud interest. These bonds mature
$300,000 Sept 1 each year from 1937 to 1916, both inclu-ive;
interest Mar. 1 and Sept. 1; both payable in gold without de­
duction for any tax, Coupon bonds, $1,000 each, bearing in­
terest from Sept. 1, 1934, registrable at the Colonial Trust
Co. of Pittsburgh, Pa,, trustee.
President T. N. Barnsdall, writing S9pt. 1, 1934, says in
substance:

J,

Net earnings................ ............. ......... . ................................. $1,530,000
Interest on bonds............................. ........................... .............
180,000
Balance available for retirement of bonds.......... ........... $1,350,000
The business being in its infancy, there will be a large increase in
the number of consumers and a corresponding increase in earnings.

The company’s pipe line starts in Lewis and Harrison coun­
ties, West Va., and crosses the Ohio River between Parkers­
burg and Marietta, runs through the Sugar Grove field in
Fairfield Co,, Ohio, and thence almost directly north through
the,) Homer field in Licking County, Ohio, to Lake Erie,
with branches supplying over 50 towns in Central Ohio. The
pipe line and all its branches are laid “ in the most approved
manner,” and comprise about 1,700 miles of pipe. Compare
report in V. 78, p. 986.—V. 79, p. 1334, 1026.

GENERAL INVESTMENT NEWS.
RAILROADS, INCLUDING STREET ROADS.
Alabama Great Southern Ry.—Dividend .—The directors
have declared a dividend of 5 p. c. on “ A ” preference 6 p, c.
shares, payable this month, making 9 p. c. paid during year
on account of arrears, as against 10 p. c. paid during 1903.
The present distribution discharges the accumulated divi­
dends up to June 30, 1904, on the £664,570 stock subject to
Act of 1888; on the remainder of the issue (£11,5 J ) to
O
March 31, 1904.—V. 79, p, 2585, 901,
Anacostia & Potomac River RR. Co.—Bonds.—See Wash­
ington Railway & Electric Co. below,—V. 68, p, 773.
Baltimore & Ohio RR.—Holdings o f Reading Stock .—
Comparison of the reports for the fiscal years 1903-04 and
1902-03 shows that the company has increased its holdings of
Reading stock as follows :
/------ Holdings June 30— -\
Glass o f Stock—
1904.
1903.
Common............................... $13,952,500 $7,500,000
First preferred..................... 6,065,000
6,065.000
Second preferred................ 14,265,000 13,990,000

T o ta l............................$34,282,500

$27,555,000

Total
Issued.
$70,00o,o00
28,000,000
42,000,000
$140,000,000

The Lake Shore & Michigan Southern Ry. Co. on Jan. 1,
1904, owned the same amounts as the B. & O, owned on
June 30, 1904.- V . 79, p. 2471, 2454.
Boston & Worcester Electric Companies.—New Stock—
Application has been made to the Boston Stock Exchange to
list 24,936 shares of preferred and 25,514 shares of common
stock,—y . 79, p. 2454, 2204.
Boston & Worcester (Mass.) Street Ry.—Sale o f Bonds.—
A ssets.—Corporation organized May 24, 1902, uader the laws of
The company’s $160,000 A.% per cent 20-year first mortgage
Delaware, with $9,000,000 authorized capital stock, and acquired:
bonds recently authorized have been awarded to E. H. Gay
I n M y , 1002—Entire Stock.
Sin ce P a r c h a s e d -E n t i r e Stock(P rop erties th en in ven toried at $5,- C itiz e n s ’ G aslight & Coke Co. o f F in d ­ & C o .-V . 79, p. 2454, 2084,
800,000.)
lay, O.
Buffalo Southern Ry.—Mortgage.—The New York State
Logan Natural Gas & Fuel Co ,
Citizens’ Gas & E le ctric Co. o f Elyria
B uckeye Gas Co..
and Lorain, O,
Railroad Commission has authorized the making of a mort­
New ark Natural Gas & Fuel Co.,
50 p. c. o f S tock, less One Share.
A then s G aslight v E lectric Co.,
gage for $2,000,003, with the proviso that only $1,000,000 of
(R est ow n ed by Standard Oil in terest.)
M an ufactu rers’ Gas Co..
R eserve Gas Co. o f W est Virginia.
the bonds shall be leaned without further action by the Com­
W arren & Chautauqua Gas Co.
C on necting Gas Co. o f Ohio.
The oompanlea owned have largely increased their holdings In the mission.—V. 79, p. 2146.
Homer, O., gas field; ooastrnoted new distributing systems In a num­
Canada Atlantic Ry.— Earnings . —The company reports as
ber of cities and towns; Increasing their domestic consumers over
follows for the years ending Juue 80 :
28,900. and extending their lines to take oare of the Increasing busi­
ness. Total Investment J one 30, 1904, $12,056,041, viz :
Main lin e s ................... ...14,204.200
Field Imes, wells, leases, ko. 4,7*0,077
A ll tow ns a id cities .............. 2,720,821
U ndistributed m aterial .......
100,832

E lectric Diants . ..
Steam plant, Elyria.
M a teria ls...................
Office fu rn itu re .......

$119,391
, 40,481
io;,3ii6
3,132

The investment above mentioned consists of:
435-90 aores In fee simple;
6103a miles main lines;
145,850
aores In leaseholds;
214% miles field lines;
249
gas wells;
747 miles olty lines.
Also 41,200 meters and house oonneotlons, and Sugar Grove pump­
ing station; also 50 p. o. (less one share) of the property of the Re­

Fiscal
Qross
year.—
earnings.
19 >3-04....$1,761,300
1902-03.... 1,908,0/6
1901-02.... 1,816,917
—V. 79, p. 2454 1641.

Opir. exp.
Net
Net, barges dt
Total
< taxes.
6
earnings. Lake steam’s.
net.
$1,337,689 $123,611
$35.5/3
$459,134
1,216,935 891.090
9,450
700,540
1,247,925 569,022
31,401
600,423

Canadian Pacific Ry.—Leased Line Bonds.—See Tilsonb n r L a k e Erie & Pacifi / Ry. Co. below —V. 79, p. 2)87, 2146,
Central New England Ry.— Operations—See New York
New Haven & Hartford RR. below.—V. 78, p. 768,

THE CIIRONICLI

2042

Central R E. o f New Jersey.— Rights Under Lease.—S^e
Lehigh Coal & Navigation under “ Industrials” below. — V.
79, p. 1826, 1264.
Chicago & Eastern Illin o is R R .— Called Bonds.— Indiana
Block Coal RR. bonds Nos. 132, 162 and 164, for $500 each,
and Nos. 59, 88 and 89, for $1,000 each, w ill be paid upon
presentation at the Farmers’ Loan & Trust Co., New Y ork,
interest ceasing Jan. 1.— V, 79, p. 1951, 1831.
Chicago General Ry.— Sale.—Sae Southern Street Ry.
below .— V. 79, p. 2084.
Chicago R eck Island & P a cific Ry.—Application to List .—
Application has been made to the New York Stock Exchange
to list the $14,704,000 first and refunding mortgage 4 p. o.
bonds of 1934. See V . 79, p. 2205,—Y. 79, p. 2587, 2205, 1951.
C hicago U nion T ra ction C o.—Suit Brought by Protective
Committees o f North and West Chicago Companies.—A t
Chicago on Dec. 3 bills were filed in the United States Cir­
cuit Court askiDg that the lines of the Consolidated Traction
Co. be declared the property o f the North and W est
Chicago Street R R . companies, and that a receiver be ap­
pointed for the Consolidated Traction Co. These bills were
filed in the names of the stockholders’ committees of the North
and West Chicago companies, viz.:
North Chloago—F. H. Rawson, Henry A. Blair, Charles L. Raymond,
A. T. Galt and C. R. Corwlth.
West Chicago—F. H. Rawson, W. H. Gray, W. N. Elaendrath, James
Bolton and O. R. Corwlth.

The plaintiffs allege that the lines o f the Consolidated Com ­
pany were constructed by means o f the money and credit of
their companies, and that the latter are entitled to
have the $6,750,000 bonds o f the Consolidated Traction
Co. declared null and void, the leases adjudged fraudu­
lent and the property turned over to the companies. Charles
T. Yerbes, it appears, still owns practically all the outstand­
ing bonds of the Consolidated Traction Co.
Receivers' Certificates.—Bondholders' Meeting.—A pplica­
tion having been made fo r authority to issue receivers’ cer­
tificates which shall be a first lien on the property o f the
North Chicago Street R R . superior to the lien o f all m ort­
gages, the Fidelity Trust Co. o f Philadelphia, as trustee under
the m ortgage of July 1, 1886, has called a meeting of the
bondholders, to be held at its office in Philadelphia on Dec.
13, to determine what protective measures, if any, should be
taken. See notice on another page.
The receivers’ certificates here referred to are those m en­
tioned last week (p. 2587), which, unlike previous issues, it is
proposed to make a prior lien ahead o f the $25,000,000 m ort­
gage obligations of the W est Chicago Street RR, and the North
Chicago Street R R ., and a lien on the Traction system, sub­
je ct only to the Chicago W est Division, Chicago Passenger
Railw ay and North Chicago City R ailw ay bonds and rentals.
The question of making the issue cover the cost o f the su g­
gested change o f m otive power on the North and W est
Chicago roads, from oable to electricity, is one o f the points
under consideration. The matter w ill com e up before Judge
Grosscup on Dec. 15.
The bondholders of the underlying companies are asked by
a comm ittee consisting o f A . J. Eddy, H. W ollenberger and
R , W. Hosmer to deposit their holdings w ith the W estern
Trust & Savings Bank, Chicago, for concerted action against
impairment of their security. See advertisement on another
page.—Y . 79, p. 2587, 2454

[V O L . L X X li ,

Resolved, that the company, as part of the terms upon which It Is to
receive as fully paid the stock of the Grand Trunk Paolflo Ry. Co.,
guarantee the prtnolpal and Interest of an Issue not exceeding
ftoo.OOO fifty-year 4 per cent gold bonds proposed to be oreated by the
Grand Trank Paoltlo Ry. Oo. as a first charge upon the Lake Superior
branch line. Oompare V. 79, p. 2587.

Great N orthern R ailw ay o f Canada .—Application for a
Receiver.—Application has been filed in Canada for the ap­
pointment o f a receiver pending the carrying out of the re­
organization plan.— V. 79, p. 2455, 2085.
G n lf & Ship Island R R .—Not Sold.—The report that has
been going the rounds in the papers that this road has been
acquired by the Gould interests, we are authoritatively in­
form ed is without foundation; and the property will con­
tinue to be operated independently.—V. 79. p. 1701, 1461.
Ham pshire & W orcester Street R y.— Foreclosure.— The
American Loan & Trust Co. of Boston, as m ortgage trustee,
brought suit in the Superior Court at W orcester, Mass., on
Dec. 6, for foreclosure and the appointment of a receiver.
See page 2560 o f S t r e e t R a i l w a y Section.— V. 78, p. 1313.
ln te rb o ro u g h Rapid T ra n sit Co .—Resignation o f Chief
Engineer Parsons.— W illiam Barclay Parsons, Chief Engineer
o f the Rapid Transit Commission, handed In his resignation
last week.
New Director.—James H. Hyde, Vice-President of the Equit­
able Life Assurance Society, has been elected a director ot the
Rapid Transit Subway Construction Co. and the Interborough
Rapid Transit Co. to succeed John B. M cDonald, the con ­
tractor, who withdraws from the enterprise, the contract
made in his name with the exception o f the crossing under
the Harlem R iver being practically com pleted.—V. 79, p.
2588, 2456.
Lehigh & Hudson River Ry.—New Directors.— At the an­
nual meeting the follow ing new directors were elected:
W. H. Truesdale, President of tbe Del. Lack. & Western RR.
F. D. Underwood, President of Erie RR.
S. M. Provost, representing Pennsylvania RR. interests.
E. B. Thomas, President of Lehigh Valley RR.

L. A . Riley was re-elected President,— V. 79, p, 269,
Lehigh < Lackwanna R R . —Merged,—See Lehigh & New
fe
England R R below .— V. 79, p, 90?.
Lehigh & New E ngland R R .— Merger.—This com pany,
which in May last passed under the control o f Lehigh Coal
& Navigation Co., recently absorbed by consolidation tw o
other companies also controlled by that corporation, viz. :
Lehigh & Lackawanna R R .. Bethlehem to W ind Gap, Pa.,
25’39 miles* and W ind Gap & Delaware R R ,, Bangor to Saylorsburg, Pa., 9'96 miles.—V , 78, p, 1962, 1781.
Lehigh V alley R R .—New General Manager.— General
Superintendent M. B. Cutter has been made General Manager,
with offices at South Bethlehem, Pa., and 143 Liberty St.,
New Y ork .—Y . 79, p. 2205, 1704.
Lehigh V alley T ra ctio n Co.— Plan Declared Operative.—
The reorganization plan has been declared operative. “ Con­
siderably more than a m ajority o f each class o f the bonds,
stocks, evidences o f indebtedness and claims against the
Lehigh V alley Traction Co., Philadelphia & Lehigh Valley
Traction Co , Allentow n & Slatington St, R y. Co. and
Coplay Egypt & Irontou St, R y. Co. have been deposited
under the plan of July 20, 1904.” Compare V . 79, p. 733.—
V. 79, p, 2147, 1704.

Lowell & Boston Street R y.— Sale.—The property is ad­
C leveland & P ittsburgh RR . — Stock Offered.—Kuhn, Loeb vertised to be sold at receivers’ sale at W oburn, Mass., on
& Co. are offering at 107% and accrued dividends the unsold Dec. 31, subject to m ortgage o f Dec. 2,1901, for $250,000, Fed­
portion o f their block o f $4,000,000 special guaranteed 4 p. c. eral Trust Co. o f Boston, trustee, securing $90,000 of out­
betterment stock. The quarterly dividends upon this stock standing bonds. U(5set price $16,000.—V. 78, p. 2384.
beginning March 1,1905, are guaranteed by the Pennsylvania
Massachusetts E le ctric Com panies.— Dividend Passed.—
R R . Co., free from all taxes that may be levied under the
laws of United States or the States o f Ohio or Pennsylvania, As already foreshadowed in tne C h r o n ic l e , the trustees
The surplus earnings o f the Cleveland & Pittsburgh R R . have permitted the usual time for the declaration of the
after payment of all charges, including dividends on the out­ January dividend to pass w ithout action thereon. As to the
standing stock for 1903, were $1,328,959, which Is m ore than com pany’s im proving prospects, see V. 79, p. 2456, 1462.
eight times the amount required for the dividends on the
Metropolitan Street Ry., New York.—New Director.—
present issue o f betterment stock. See advertisement on Robert A. C. Smith o f this city, a director in numerous im ­
another page; also V. 79, p. 2587, 2455.
portant corporations, notably the American T obacco Co,,
D elaw are Lackaw anna & W estern RR .— Extra Dividend. Chicago Union Traction Co,, Connecticut Railway & L igh t­
—The directors on Tuesday declared an extra dividend of ing Co., etc, has been elected a direotor to fill a vacancy.
Transfers.—In consequence o f the decision r tn ie re d la st
10 p. c. ($5 per share, par $50), payable Dec. 23 to holders of
record Dec. 8. The capital stock is $26,200,000, and divi­ week the New Y ork City R y. Co., lessee of this property,
dends of 7 p. c. per annum have been paid since 1886, On began on Sunday to give transfers at all points on Broadway
Dec. 31, 1903, the company had a profit and loss surplus of except 42d Street.—V. 79, p. 2588, 2456.
$18,790,213, but the extra dividend is understood to have
Mexican Southern Ry .—Redemption o f Securities.—The
been more than earned during the year 1904,— V. 79, p. 1955 follow ing announcement has been made in London:
The directors have reoeived cable advice from M exico to th etfle o t
Galveston H arrisburg & San A ntonio R y .—Proposed Pur­
chase o f Allied Lines.—The com pany gives form al notice o f its that it is impossible to delay the redem ption of the Mexloan G ov. 6
p. c. silver subsidy bonds, and that offlolal notice will soon be given
intention to ask the Legislature of Texas for the authority of the Governm ent’s intention to redeem on 31st o f May, 1905. If, as
to purchase the follow ing allied lines and for that purpose to the direotor? hope, the prooeeds should be snffloient to redeem the
increase its stock and m ortgage debt to such extent as shall whole of the outstanding first debenture stock, the Interest and sink­
ing fund of the second debenture stock (to whioh the Interest on the
be approved by the State Railroad Commission :
subsidy bonds for year to 31st Decem ber last contributed about
New Y ork Texas & Mexican Ry.
Gulf Western Texas & Pacific Ry.
8an Antonio & Gulf RR.

G alveston H ouston & Northern

Ry.

Gonzales Branch RR.

£14,500) will in future fall entirely on the revenue derived from the
working of the railway.—Y. 63, p. 1112.

Mississippi Central R R .— Proposition to Change Name Re­
The five lines aggregate about 400 miles o f road.—V . 77, jected.—The Secretary o f the Pascagoula Com m ercial Club
p. 2280.
at Pascagoula, Miss., suggested to the management some
Grand T run k P a cific R y.— Guaranty .—See Grand Trunk time since that the name of the road be changed to the St.
R y. below .— V. 79, p. 2587, 681.
Louis Pascagoula & Panama Ry. The suggestion was dis­
Grand T ru n k R y.— Guaranty.—The shareholders w ill vote approved, and we are inform ed that the company has no in­
Dec. 21 on the follow in g resolution passed by the directors tention o f changing its title. F. L. Peck, Scranton, P a., is
on the 25th of Novem ber last:
President.—V. 79, p. 2598.

D ec.

10, 1904. J

THE CHRONICLE.

“ ■M issouri P acific R y.—New Bond lame.—Kuhn, Loab &
Co. have purchased $25,000,000 o f a new bond issue to be
made by the Missouri Pacific R y. The bonds will be 40-year
4 per cents authorized for $50,000,000. The present issue,
$25,000,000 is secured by 8t. Louis Iron Mountain &
Southern Railway stock. The proceeds from the sale is to
pay for various extensions that have been made and for improvements and betterments.
The capital' stock of the
Iron Mountain is $25,788,435, o f which $25,783,790 was owned
on Jan. 1, 1904, by Missouri P acific—mostly acquired in
1881. Dividends paid on Iron Mountain |stock: In 1899, 2 p.
c.; 1900, 6; 1901, 6; 1902, 10; 1903, 10.
Refunding.—See St. Louis Iron Mountain & Southern
Ry. below .—Y . 79, p. 1023, 786.
M ancie H artford & F o rt Wayne (E le c tr ic ) Ry .—Listed in
Cleveland.—This com pany’s stock and bonds have been
listed on the Cleveland Stock Exchange.—V . 77, p. 1534.
Nashville R ailw ay & L ight Go.—Certificates Called.—See
Cumberland Electric Light & Pow er Co. under “ Industrials”
below .—V. 79, p. 1266, 152.
New York Canadian P acific R y.— Application Denied.—
The State Railroad Commission on Dae,17 denied the applica­
tion of the company for permission to issue a first mortgage
o f $25,000,000 for the purpose o f building the long-projected
road from New Y ork to Albany and thence to Ogdensburg,
N. Y ., 382 miles in all, Compare V. 75, p. 394, 30.
Stock.—The shareholders are said to have voted on Dec. 3
to issue $8,500,000 of non-voting 5 p. c. preferred stock, re­
serving the right to issue an additional $30,000,000 if desired.
The authorized issue o f common stock is $10,150,000, outstanding
June 30, 1903, $1,4.70,200, o f which $164,000 was issued for cash.
Total construction accounts to June 30, 1903, $1,610,324. viz : Grad­
in g and masonry $43,627; land and land damages. $50,378; engineer­
in g , $42,173; salaries and expenses, $1,474,146. In addition new sur­
veys, etc., had cost about $30,000, but bills uot presented. Verplanok
Colvin, Albany, is President.—V. 75, p. 394, 30.

New York New Haven & Hartford R R .— In control.—See
New Y ork Ontario & Western R y. below.
Negotiations Off.—See Lehigh Coal & Navigation Co. under
“ Industrials” below.
Exchange o f Stock. —The company has been authorized to
issue $100,000 of its capital stock against the cancellation of
the entire $100,000 stock of the Middletown Meriden &
Waterbury R R ,, all of whioh it owns and on which it has
received dividends at the rate o f % p, c. per annum.
Operation.—On Dec. 1 the company assumed the manage­
ment and operation of that portion o f the Central New
England R y, between Poughkeepsie Janction and Campbell
Hall, N. Y ., “ subject to the rights o f the Central New
England R y. Co. to operate its own trains upon the same
when it so desires.” On the same date the company, it is
stated, assumed the lease of the Dutchess County R R . Co.,
and will thereafter operate the same as part o f its system.—
V. 79, p. 2456, 2086.
New York O ntario & W estern R y.— New Haven Road in
Control.—The control of the road was on Wednesday turned
over to the New York New Haven & Hartford R R . Co., which
is now represented by eight of the thirteen directors, tbe
board as reorganized including:
New D lreotors.-J Pierpont Morgan, William Rockefeller, Charles S.
Mellen, George Macoulloch Miller, Charles F. Brooker, D. Newton
Barney, Frank W. Cheney and William Skinner.
Old Directors.—Thomas P. Fowier, John B. Kerr, James E. Ohilds all
officials of the company. Grant B. Schley and Charles F. Whalen.

*2643

notified that they will receive their principal and interest at
maturity at the office o f the Mercantile Trust Co., No. 120
Broadway, New Y ork City.
Kuhn, Loeb & Co., referring to the above announcement,
offer by notice in our advertising columns for eaoh
$1,000, par value, o f said first mortgage 7 p. c. bonds,
with Jan. 1, 1905, coupons attached, on or before Dec. 15,
1904, at their office, $1,000, par value, St. Louis Iron M oun­
tain & Southern Railway Co, unifying and refunding m ort­
gage 4 p. c. gold bonds, due July 1, 19;9, with coupons due
Jan. 1, 1905, and subsequent coupons attached, and farther
to pay to holders, upon such exchange, $72 50 per bond in
cash. The unifying and refunding bonds are issued to pro­
vide for said maturing bonds, and the necessary step3
will be taken to extend the lien o f the unifying and refund­
ing mortgage over the property o f the Little R ock & Fort
Smith Ry. Co. as a first lien thereon.
Stock Pledged,—See Missouri Pacific Ry. above.—Y . 79, p.
1332, 1267.
St. Louis & San F rancisco R R .—Neiv Chairman,—The
board of directors on Dec. 6 elected D, G. Reid Chairman
o f the board to succeed B. F. Yoakum, who is now Chairman
of the Executive Committee.—V. 79, p. 1966, 1956.
Sierra ValleysR y.—Chanqe in Control. E tc.—See report of
Nevada-California-Oregon R y. on page 2641.—V. 74, p. 776.

Southern Pacific Co.—-First Dividend on Preferred.—A
dividend of 3% P- c. was declared yesterday on the $40,000,080
o f 7 p. c. preferred stock, payable on Jan. 16, 1905, to stock­
holders of record of Dec. 31, 1904.— V. 79, p. 2589, 2461.
Southern Ry .—Called Bonds.—Charlottesville & Rapidan
R R , bonds aggregating $19,500 will be oaid at the Philadel­
phia Trust, Safe Deposit & Insurance Co., Philadelphia, Pa,,
on Jan. 1 ,1 9 0 5 .-V. 79, p. 1465, 1456,

Southern Street Ry .—Control o f Chicago General Ry.
Acquired,—On Nov. 29 the board o f directors o f the
Chicago General Ry. resigned in favor o f the representatives
o f the new Southern Street Ry. Co. W m . C. W ood, a real
estate dealer o f W est Pullman, is President of the latter
corporation, and E. F. Bryant, President o f the Pullman
Bank, is said to be a large stockholder. The “ Chicago
Economist” says :
A large majority of the bonds of the Chicago General Railway and
the underlying West & South Towns Go. have been deposited, under
the offer ot William G. W o o l and associates of the Southern Street
Railway.Insuring success of the plan. For nearly all of the old bonds
so deposited new first mortgage b o n is will be exchanged at 85 for
the West & South Towns and 15 for the Ohioago General. The p ro p ­
erty has been deeded to the purchasers, but the foreclosure proceed­
ings will be oarried throagh, thus cleaning up all the equities and
settling complete title in the new owners. So far as appears the
purchasers are not connected with either City Railway or Union
Traction, and the road will no doubt be operated as an independent
line for some time.

Springfield & X e n ia T raction C o.—Safe Dec. 23.—The
foreclosure sale, it is stated, is now set for Dec. 23. The
property has been re-appraised for $200,000, and must bring,
it is said, at least $1.33,333. The form er appraisement was
$875,000.- V . 79, p. 1267, 682.

Syracuse Skaneateles & Moravia (Electric) RR.—Mort­
gage.—The New Y ork State Railroad Commission on Dec. 7

approved the making o f a mortgage for $1,500,000, provided
that not more than $500,000 bonds be issued without further
authority. The original charter was dated April 18, 1898;
Dividend Declared.—The directors on W ednesday also amended March 15,1899.' Capital stock authorized $1,000,0* 0;
declared the expected dividend o f $3 a share (3 p. c.) on the par o f shares $100. Road projected from Syracuse to M o­
common stock, payable Jan. 16 to holders of record Dec. 22, ravia, 43 miles. W in g T. Parker o f Moravia, N. Y ., is
This was in accordance with the plan in Y . 79, p. 1332. —V. President.
79, p. 2206, 2148.
Tilsonburg Lake Erie & Pacific Ry.—Mortgage.—Lease.—
New York & Portchester (Electric) Ry.—Syndicate.—A The company has filed a mortgage dated Oct. 8,1904, to the
syndicate headed by Ciias. W . Morse and a construction R oyal Trust Co., as trustee (with the Canadian Pacific Ry.
company of which the President is John B. M cDonald (re­ Co. as the party o f the third p a rt), for the purpose of secur­
cently contractor of Interborough Rapid Transit Subway) are ing mortgage bonds to the extent of $875,000. The Canadian
reported to have taken this project in hand. The railway Railway Commission will consider on Deo. 20 the company’s
company, it is stated, will have $15,000,000 o f com m on stock application for the sanction o f a lease o f the property to the
and issue $15,000,000 of bonds. Of the stock $1,500,000, it is Canadian Pacific Ry. Co. for 999 years from Jan. 1, 1905.
Compare V. 79, p, 1027.
said, has been paid in by the follow in g men:
Twin City Rapid Transit Co.—Called Bonds.—Tw enty
John B. McDonald, Charles W. Morse, John W. Gates, Dave H.
Morris, Samuel Untermyer, Henry F. Shoemaker, J. H. Harding of ($20,000) bonds issued in 1880 by the Minneapolis Street R y .
Charles D. Barney & Go., Harry 8. Black, President of the United Co. will be redeemed at 105 and interest on May 1, 1905. at
States Realty & Construction Co., and others.
the Farmers’ Loan & Trust Co., New Y ork, —V. 79, p. 2087.
W . C. Gotshail, No. 45 West 72d St., N. Y ., is President.
Union Electric Co., Dabuque.—Bonds.—See Electrioal
The Board of. Aldermen has heretofore declined to grant
the company permission to cross streets in the Bronx, and Securities Corporation under Industrials below .—Y. 72, p. 776 #
has favored the rival project o f the New York W estchester
United Railways & Electric Co. of Baltimore.—Sale o f
& Boston Ry. Compare V. 79, p. 2457, 2206.—V . 79, p. 904, Bonds.—The company has sold $1,700,000
p, c. bonds of
681.
the Baltimore Sparrows Point & Chesapeake Railway Co. to
North Chicago Street RR.—Rece vers' Certificates,—See Dominick & Dominick o f New Y ork and J, W illiam Middendorf & Go. of Baltimore. These bonds are guaranteed as
Chicago Union Traction Co. above.—V. 79, p. 734.
P ennsylvania RR.—Equipment Notes.—The rolling stock to principal and interest by the United Railways & Electric
securing the $10,800,000 of equipment trusts offered by Lee, Co. The latter also leases the Sparrows Point road in per­
Higginson & Co. and Clark, Dodge & Co.,w e are informed, in­ petuity and agrees that one-fourth of all fares collected
cludes 9,667 steel cars and cars with steel under-frames. See within the city limits on the Sparrow Point’s cars (w hich
will run to the centre o f the city) shall go into that com ­
V. 79, p. 2589, 2457.
pany’s treasury. The sale, it is said, will enable the United
Rio Grande Sierra Madre & Pacific RR.—Yew Officers.— Railways to discharge its floating debt o f about $1,500,000
The new owners have elected the follow ing officers: Presi­ and leave it with a considerable amount of new money. The
dent, W . C. Greene, and Treasurer, E. J. Gates, with office sale also includes an option on the $300,000 remaining of the
at No. 24 Broad St., New York. General Manager, E. W. authorized iesne o f $2,000,030.
Mead.—V. 79, p. 245S, 2086.
Called Bands.—Three Central Railway Co. first mortgage
St. Louis Iron Mountain & Southern Ry.—Refunding. — 6? of 1882, viz., Nos. 76, 188, 191, will be paid at the Safe
Holders of the $2 342,500 7 p. c, bonds o f the Little R ic k & Deposit & Trust Co, of Baltimore on Jan. 1, 1905.— V. 79,
Fort Smith Railway Co. which mature on Jan. 1, 1905, are p. 2589, 1643.

i>(>44

THE CHRONICLE.

[V O L . LXX1X.

common shares $2 50 (5 p. c.) and then exchanging 6% shares
of the same for one share of new full-paid stock. It
is stated that two-thirds of the preferred stockholders and
three-fourths of tbe common stockholders have assented to
the proposed change. The preferred stock is $3,000,000 5
Jan., 1905.
July. 1904.
Jan , 1904.
July, 1903.
Jan., 1903. p. o. cumulative.—V. 78, p. 767.
2 p. o.
l^ ip . o.
l ^ p . o.
l ^ p . o.
l*s p. o.
American Waterworks & Guarantee Co. of Pittsburgh.—
—V. 78, p. 1905.
Purchase.—See Portsmouth Berkley & Suffolk Water Co.
Yera Cruz <e P a cific RR.—New Bonds Ready — Speyer & below.—V. 79, p. 788, 502.
f
Co. are now issuing the engraved bonds in exchange for
American Window Glass Co.—Exchange o f Stock.—See
their temporary certificates.—V. 79, p. 1648, 1333.
American Window Glass Machine Co. below.—V. 78, p. 2144.
W abash RR.—(7uaran teed Bonds Offered.—See Columbia
American Window Glass Machine Co .—New Stock Certifi­
& St, Louis RR. above.—V. 79, p. 2087, 1956.
cates—Exchange of Stock.— The com pan y’s engraved stock
Washington (I). C.) Railway <e Electric Co.—Bonds Sold. certificates w ill be issued in exchange for the tem porary
t
—The Anacostia & Potomac River RR. Co. has sold and receipts on and after Dec. 12, 1904, at the Farm ers’ Deposit
listed on the Washington Stock Exchange an additional N ational Bank, Pittsburgh. The same institution has been
$267,000 of its 5 p. c. 1st mortgage bonds of 1949, making $2,- authorized to receive any o f the few outstanding Bhares of
517,000 listed to date. Hambleton & Co., Baltimore, are of­ the A m erican W in d ow Glass Co. w h ich m ay be offered on
fering $100,000 of thisissueat 105 and int.— V. 79, p. 2149, 153. or before Jan. 10, 1905, in exchange fo r com m on and pre­
West Chicago Street RR.—Rcceivers' Certificates.—See ferred stock o f the A m erican W in d o w Glass M achine Co. on
Chicago Union Traction Co. above.—V. 79, p. 735.
the basis o f % share preferred and % share com m on stock of
Wheeling & Lake Erie RR.—New Equipment'Notes Offered. the Machine Company for each share o f the com m on of
—Rudolph Kleybolte & Co., Cincinnati, New York and the W in dow Glass Com pany. If ail the W in d ow Glass
Chicago, are offering for sale the unsold portion of an issue of Company stock is deposited, the stock o f the M achine C om ­
$510,000 equipment trust 4% p. c. notes of $1,000 each, dated pany w ill be $13,000,000 com m on and $7,000,000 p referred .—
Dec. 1, 1904, and due $51,000 annually on Dec. 1, beginning V. 76, p. 867.
in 1905 ; interest payable semi-annually in New York, The
Belton (S. C.) Power Co.—New Plant.—President and
notes maturing in 1905 and 1906 have already been sold at Treasurer John B. Adger, now residing in Belton, 8. C., re­
100% and interest; those due in 1907, 1908 and 1909 are vised the statement recently published in this column, and
offered at par and interest; those due in 1910, 1911 and 1912 states that the plant which is now under construction will be
at 99% and interest, and those due in 1913 and 1914 at 99% in operation about next June, Capital stock $100,000, all
interest. A circular says :
outstanding and all common; par $100.—V. 79, p. 2459.
The*e notes are Issued tor 85 p. o. of the cost of new equipment, con­
Boston & Montana Consolidated Copper & Silver M in ing
sisting of 1,000 coal cars, 15 p. o. being paid In cash. Tney are a first
lien on the equipment purchased, the title remaining with the trustee Co.—E xtra Dividend.—See Amalgamated Copper Co. above.
until the total Issue Is paid, and the equity is Increased by the retire­ - V . 79, p. 2088, 502.
ment of one-tenth of the total amount eaoh year.—V. 79, p. 101.
Cambridge (Mass.) Gas Light Co.—New Stock.—The com­
pany has applied to the Massachusetts Gas & E'ectric Light
Commission for permission to issue $120,000 additional stock
INDUSTRIAL, GAS AND MISCELLANEOUS.
to meet the cost of extensions and additions.—V. 78, p. 585.
Alabama Consolidated Coal & Iron Co —Annual Report,
Canada North-West Land Co.—Return o f Preferred Cap
—At the annual meeting held in Baltimore on Dec. 1 Presi­
ital—Dividend.—On Oct. 10, 1904, a return of 20 per cent
dent Bush stated that the affairs of the company are in a
prosperous condition, particularly considering the very de­ of the preferred capital, being $20 per share, was made as
pressed condition of the iron business during the most of the of July 1, 1904, to the holders of the preferred stock, reduc­
fiscal year ending Oct. 1, 1904. As compared with the first ing the par value of the preferred shares from $100 to $80.
United Railways Investment Co. of San Francisco.—
Dividend Increased—The company has declared a dividend
of 2 p. c. on its $15,000,000 of 5 p. c. cumulative preferred
stock, payable Jan. 8, 1905, to stockholders of record Dec. 19,
1904. The dividend payments compare as follows :

year ending Oct. 31, 1900, the output, he said, was:
Year.

Iron.

Goal.

(Joke.

1903-1904............................................ 135,610
530,106
234,096
1899 1900 .................................... .
67,034
206,496
72,673
The record of the first six months of the flsoal year shows that had
not the interruption occurred by the strike of the miners, the output
of iron would have been 150,000 tons or more, the output of ooal
600,000 tons and the output of coke 270,000 tons. The output of
coke was produced with the company having about 100 coke-ovens
idle during the year.—V. 79, p. 105.

Amalgamated Copper Co.— Large E xtra Dividend from
Subsidiary Company.—The Boston & Montana Consolidated
Copper & Silver Mining Co., most of whose $3,750,000 cap
ital stook is owned by the Amalgamated Copper Co., de­
clared on Dec, 2 a dividend of 200 p. c. ($50 per share, par
$25). The Amalgamated Company, it is rumored, will ap­
ply the money derived from the latest distribution, esti­
mated as something more than $7,000,000, towards the dis­
charge of its indebtedness of $8,000,000 to the directors on ac­
count of the smelter of the Washoe Copper Co., whose cap­
ital stock is all owned by the subsidiary Anaconda Copper
Mining Co. The Boston & Montana is credited in usually
well informed circles with having paid quarterly dividends of
8 p. c. each ($2 a share) in Januarv, April, July and Oct­
ober (?), 1904, with aEg extra dividend of 12 p. o. ($3) in July
and possibly the same also in October.
The dividends paid in previous years are shown below:
DIVIDENDS (PEE CENT) PA ID BY BOSTON < MONTANA CO.
&
1003. 1002. 1901. 1000. 1890. 1898, 1897. 1898. 1805. 1894. 1891.1800.1889. 1888
32
24
140
172 144
64
48
'4 0
28
8
16
20
20 16
- V . 79. 2207, 2087.

American Can Co.—Dividend,—The company has declared
“ a quarterly dividend of 1% p. c.” upon the preferred stock,
payable on Jan. 1, 1905, to stockholders of record Dec. 19.
The three dividends previously declared were semi-annual
distributions of 2% p. c. each, paid Sspt. 30, 1903, and April
1 and Oct. 1, 1904. Nothing has been heard recently of the
plan which in October last was said to be under considera­
tion for readjusting the company’s capitalization. —V. 79, p.
2149.
American Car & Foundry Co.—Orders.—See Pressed Steel
Car Co. below.—V. 75, p. 668, 1356,
American Ice Co.—Possible Reduction o f Capital Stock.—
Touching recent rumors, President Oler is quoted as saying:
The company has outstanding an amount of capital stook wktoh Is
burdensome under Its present earning oapaotty, and it is tke opinion
of several influential directors ihat our credit could be Improved by
a shrinkage <f the unnecessary oapltal. The management has in view
several plans to aooomplish this result, but no single soheme has been
decided upon. In any event it has been deotdert not to put the com­
pany to any large expense experimenting with capital readjustment.
—'V. 78, p. 1963.

American Iron & Steel Manufacturing Co.—Reduction o f
Common Stock.—A circular signed by President J. H Steinbergh, Arthur Brock and James Lord recommends a reduc­
tion of the common stock from $17,000,000 (in shares of $50
each with $5 paid in), to $2,550,000, par of shares $50, full paid.
This is to be accomplished by assessing each of the 340,000

On D e c . 81.1893, th is C anadian co m p a n y a cq u ire d fro m th e fo rm e r E nglish
co m p a n y 1,928,319 se re s o f la n d ; o n D ec. 81. 1003, th e u n sold lands a m ou n ted to
785.643 acres. D u ring th e sam e p eriod th e ou tsta n d in g p referred stock was
red u ced th rou gh ca n ce lla tio n as a resu lt o f rand sales fro m $5,870,726 t o
$3,090,025; o n N ov. 14, 19C4, a fte r re d u ctio n o f th e par va lu e o f th e p re fe rre d
shares fro m $100 t o $80, as a b o v e sta ted , th e p re fe rre d s to ck was $2,238,286;
com m on , $1,467,687. T h e fa rm la n d sales in 1903 a ggrega ted 269 518 a cres
fo r $1,363,469, against 615,017 a cres fo r S2.513.57S in 1902. O f th e 1003 sales
35,856 acres w ere loca ted in M anitoba and 224,162 in A ssin iboia ; 138,430 acres
w ere so ld f o r $864,938, w ith o p tio n o f p a yin g in p referred s to ck a t par. F or th e
10 m onths endiDg Oct. 31, 1904. 88,243 acres w ere s o ld fo r $250,404, against
248,158 acres fo r $1,287,655 in sam e p eriod o f 1908. On D e c 31, i>03. th e b-dance
o f principal ou tsta n d in g o n co n tra cts fo r fa rm lands a m o u n te d to $3,274,733, o f
w h ich $1,921,661 payable in preferred shares and $1,353,072 (bearlDg 8 p. c.
in terest) p a ya b le in cash. D iv id en d N o. i on p referred stock 2 d . c. ($81,925)
was paid A p r. 16, 1002; d iv id e n d No. 2 5 p .c . ($182,180) A pr. 15. 1903; N o. 3, 6 p.c.
($185,262) Mar. 1, 1904, In co m e a cco u n t f o r yea r 1903 (e x clu d in g la rm land
sales fo r cash, th e p ro c e -d s th e re fro m , $ 58,691. h avin g b een ca -ried d ire ct to
share re d e m p tio n fu n d ) sh ow ed ; receip ts. Interest a cco u n t *208.445; profits on
to w n sites, etc., $129,676; to ta l. $838,121; exp en ses and tax es. 847,079; Det
receip ts, $290,142; d ivid en d o n p re fe rr e d (6 p. c.). $196,262; b alance, $104,880,
m akin g to ta l surplus t o cre d it o f profit and loss, $192,290. P resid en t. W . C .V an
H o rn e ; S ecretary, S. B. Sykes. H ea d office, T o ro n to .

Chattanooga Electric Co.—Bonds.—See Electrical Securi­
ties Corporation below.—V. 76, p. 656.
City Light & Power Co., Dunkirk, Ind.—Foreclosure Suit.
—Frank 8, Whitman, of Elgin, 111,, as mortgage trustee
(being successor of Northern Trust Co, and Arthur Heurtley), bas filed suit in the Federal Court at Indianapolis to
foreclose the mortgage, on which there is said to be due
$21 000 for principal and interest.
Cleveland & Buffalo Transit Co.—New B on d s—The share­
holders at a recent meeting authorized a new issue of
bonds, Tbe plan, we learn, is to make a mortgage
securing $400,000 of 5 p c. bonds and to retire at once by
exchange the existing $243,000 of 6 p. o. bonds, or to reserve
bonds for their retirement at maturity. The remainder of
the authorized issue will be used for capital requirements,
includiog the payment of obligations incurred for the en­
largement of one of the company’s steamers and for other
purposes.—V. 78, p. 1209.
Columbus (0 .) Gas Light & Heating Co.— Change in Divi­
dend Period.—This company, in order the better to dis­
tribute its disbursements, has changed the dividend period
for its 6 p. c. preferred stock ($2,600,000) from semi-annually
(3 p. c.) in June and December to quarterly (1% p. c.) begin­
ning April 15,1905. To facilitate this change the semi-annual
dividend usually paid in December will be paid in January.—
V. 76, p. 1087.
Cumberland Eleetrle Light & Power Co„ Nashville,
Teun.—Certificates Called.—The Nashville Railway & Light
Co. gives notice that it will pay on Jan. 1, 1905, at the Balti­
more Trust & Guaranty Co. in Baltimore $60,000 certificates
of indebtedness of the Cumberland Electric Light & Power
Co., numbers 1 to 60, both inclusive, interest ceasing on the
date named. - V. 79, p. 154.
Daly-West Mining C o .- Dividends,—Press reports from
Salt Lake City state that the directors in declaring the recent
monthly dividend of 40 cents a share are understood to have
decided to make future distributions quarterly, the annual
rate probably to be materially less than heretofore.—V. 78,
p. 2014.

D e o . 10, 1904.]

T H E CHRONICLE.

2645

trust bonds so retired. The
In­
Dayton (Ohio) Electric Light Co.—Change in Control.—& ing 116 p. o. of the collateral secured and unsecured, direct totalcon­
debtedness of the corporation,
and

large block o f the 1600,000 stock has been sold to a N ew tingent, shall never in the aggregate exceed four times the amount
Y ork syndicate.
Bonds outstanding $495,000 (authorized of Its paid-up and unimpaired outstanding capital stock and surplus.
issue $500,000) first m ort. g old 5s o f 1901, due Mar. 1,1921. but
The entire $2,000,000 com m on stock is ow ned by the
su b ject to call at 107^ and interest on and a fter Mar. 1,1906; G eneral E lectric Co. President, G eorge R Sheldon; V ic e interest payable Mar. 1 and Sept. 1 th rou gh N. W . Harris & President, E. R . Coffin; Secretary and Treasurer, W . T .
Co., N ew Y ork and C hicago; trustee, Illin ois T rust & Savings K aufm an, all o f N ew Y o rk C ity .—V . 79, p. 1706.
Bank, Chicago. Par o f shares $100. P resident and General
F re e h o ld (N . J .) E le c tr ic L ig h t & P o w e r € o .—Foreclosure
M anager L ow es says:
Sale.— V ice-C h ancellor Bergen at Trenton on Dec. 5 ordered
“ In order to extend onr lighting business to all parts of the city, the foreclosu re sale o f the property, w h ich was placed in the
and to place onr wires underground at a cost of $500,000, w© decided
to dispose of considerable stock, and the sale has been effected, a syn­ hands o f R ichard S tock ton , as receiv er, on M ay 24, 1904.
dicate taking up the amount offered. We decided that the way to get The com p an y, it is stated, has outstanding ^10,090 bonds.
the money was to let in some outside stockholders, and this was done.
G en era l E le c tr ic Co.—See E lectrical Securities C orporation
Some of the smaller stockholders have sold, but myself and the others
are still in the company and will remain in the same capacities.” —V. above.—V . 79, p. 1706, 1026.
72, p. 677, 629.
G ood w in C ar Co. - Called R onds.— B onds N os. 18 to 34,
D e tro it (S tic k .) Mis®™ Co. —Earnings. —Spencer Traak inclusive, fo r $1,000 each, issued under m ortgage o f Dec. 15,
& Co. are offering at 101 and interest a block o f the co m ■ 1903, K n ick erb ock er Trust Co. and W illia m R andall,
pany's first m ortgage 5s due 1933; authorized issue, $10,000,- trustees, have been called, and w ill be paid at 102 and in ter­
000; outstanding, $4,000,000. In a circu la r they report the est at the office o f the T rust Co, on D sc. 15,—V . 79, p. 905.
earnings for the"year ending O ct. 31, 1904. and the estim ated
H ou ston (T e x .) O il Co .—Proposition to Issue Receivers’
earnings furnished by the com p a n y ’s officials fo r the year
Certificates.—On N ov. 26 the Federal C oart at H ouston re­
1905 as follow s:
G ross
N et ,
B ond
B a la n ce, ferred to a Special M aster the application o f the receivers for
T ea r —
ea r n in g s .
ea rn in g s.
in terest.
s u r p lu s .
permission to issue $220,000 receivers’ certificates. T he re­
1803-04........................ $653,609
$230,697
x $ U 2 ,4 0 3
$118,294
ceivers desire to use the proceeds w ith funds in hand and due
400,000
200,000
200,000
1905 (est.)......... ......... 825,000
from the receivers o f the K irb y L u m ber Co, to pay the in t­
x$46,Q02 17 additional is chargeable against “ construction acot.”
erest due A og„ 1, 1904, upon tim ber certificates (issue about
$6,825,000, V . 79, p. 102,) and also to redeem $140,000 in
The circular further says in part:
For the first nine months of 1904 the gross and net receipts show an these certificates now past due.
The receivers’ certificates, w e are in form ed, w ill not
Increase of 20 p. e. and 24 p. o,, respectively, compared with the same
period of 1903, and this earning power resulted from the operation of be a prior lien to the tim ber certificates, but w ill be a lien
only the five separate generating steam plants, relatively little In­
come having been received from over $2,000,000 of construction ex­ against funds due fro m the K irb y L u m ber Co. fo r tim ber
penditures. The new plant has recently been placed in operation, already cut.
and enables the company to produce its entire power at one point,
New Officers.— T he fo llo w in g officers w ere recen tly elected :
using the five separate steam plants as sub-stations. A system of
underground distribution is already in use in the commercial dis­
trict. The demand for power, which the old stations lacked capacity
to supply, makes available at once a large amount of new business.
The company has an authorized issue of $8,000,000 capital stock, of
which $5,000,000is outstanding; based upon recent quotations the
outstanding capital stock represents an equity value of about $2,500,000.—V. 78, p. 2601.

8. W. Fordyoe. 8t. Louis, President, to suooeed A. T. Smith; William
H. Hollister, New York, Vice President; J. A. Whitaker, St. Louis,
Secretary, and Jay O. Moss. Sandusky, O., Treasurer; T. A. P. Talia­
ferro, Assistant Secretary. New York office, No 27 William Street.—V.
79, p. 2150.

H u dson County Gas Co .—Application to List.— A p p lica ­
tion has been m ade to the N ew Y o rk Stock E xchan ge to list
Distillers’ Securities Corporation.—Called Bonds,—The $1,110,000 additional first m ortgage 5 p. c. bonds o f 1949,
Distilling Company of America has called for payment at par m aking the total am ount listed $10,290,000.— V . 78, p. 770.

and interest to Jan. 1, at the Mercantile Trust Co , New York,
on Jan. 3, 1905, $500,000 of its remaining $519,000 collateral
trust 5 p, c. bonds of 1901.—V. 79, p. 2459, 1639.
Eastern Steel Co., Pottsville, P a.—Status o f New Plant.—
Further Improvements.—The “ Iron Age” of December 1st
contains the following regarding this company’s property:

Independent S a lt Co.—Called Bonds ,—Secretary Jam es
M cllra v y gives n otice th at the com p an y w ill redeem on
Jan. 1, 1905, bonds Noe. 1 to 50 secured b y m ortgage dated
A u g . 12, 1904. T he com pany was in corp orated in this State
in A ugust last w ith $300,000 o f authorized capital stock as a
consolidation o f H oag, W ern er & Co. and F. J. W . B n rsch
The Eastern Steel Co., which some time since took up the Atkins C o., 332 E is t 103d, Street, N ew Y o r k . It was said that the
plant at Pottsville, Pa., has now begun further improvement work.
There is nearly completed a steel plant of four 50-ton basic open- com pany w ould act as selling agent fo r the Eastern D ivision
hearth furnaces. The 32-inoh blooming mill belonging to the old o f the International Salt Co.

works is being fitted up. There are also inefficient condition a 12-lnch
and a 19-inch mill, which constituted a part of the old plant. When
the work is completed it will be possible early in the spring to pro­
duce steel billets, if desirable. The principal undertaking at the
present time, however, is the building of a 28-inoh beam mill, which
will roll sizes up to and Including 24-inch. It is estimated that the
capaoity of the works will be about 120,000 tons of ingots per annum.
The bridge shop, it is expected, will be increased by the building of
a new bridge plant. Then a capaoity of 25,000 tons of fabricated ma­
terial per annum will be attained. Very 1 Preston is President; James
A. Burden Jr., Vice-President; T. R. Foley, Treasurer; Edward L.
Herndon, Secretary, and A. H. Beale, General Manager.— V. 79, p.
5 0 3 ,1 0 6 .

international Mahogany Go.—Mortgage. —T his com p an y,
ow n ing, it states, 56,000 acres o f m ahogany and h ard -w ood
lands in C uba and n early 500,000 acres in M exico, has m ade
a m ortgage to the K o ick e rb o ck e r Trust Co. o f N ew Y ork , as
trustee, to secure $1,000,000 o f 6 p. c. 20-year gold sinking
fu n d bonds, dated Sept. 30, 1904, and due Sept. 30, 1924, but
su b ject to call at any tim e at 105; denom ination, $500; in ter­
est payable sem i-aim ually A p ril 1 and O ct. 1 at office o f
trustee. “ N o prior liens rem ain ou tstan din g.” The proceeds
o f this issue w ill liqu id ate the am ount due on the lands
Electrical Development Co.—Bonds Offered.—See Toronto acquired and provide fo r the con stru ction o f w harves, barges
& Niagara Power Co, below.
and tow -boats and railroads.

Electrical Securities Corporation.—Securities Offered.—
Harvey Fiek & Sons are offering at 92% $500,000 of this com­
pany’s $1,000,000 5 p. c. onmnlative preferred stock, with
preference as to assets as well as dividends, par of shares
$100; also at par and interest $500,000 of its first series of
$1,000,000 collateral trust sinking fund 5 p. c. gold bonds of
$1,000 each. The bonds are dated Nov. 1, 1904, and are
due Nov. 1. 1934, but are subject to call at the company’s
option at 103 and interest on any interest day upon 21 days’
notice; also, beginning with Nov. 1, 1909, they must be grad­
ually retired either by purchase or redemption. Interest paya­
ble May 1 and Nov. 1 in New York. These bonds are secured
by deposit with the Standard Trust Co. as trustee of the fol­
lowing 5 p. c. mortgage gold bonds, aggregating at par
$1,250,000; the limit of the several authorized issues is also
indicated:
P led g ed A u th . issu e .

Chattanooga Eleo. Co. consols, fine 1934 (V. 76,
p 656; V. 78, p. 1271)..........
...........................$ 2 0 0 ,0 0 0 y $ 750,000
x Union Eleo. Co., Dnbuqne, 1st M , due 1 9 8 1 ___ 150,000 $980,000
x Ashland L-ght, Power < Street Rv. istM ., dne
fe
1916.
50,000
150,000
Omaha Eleo, Light & Power Co. 1st M „ due 1933
(V. 77, p.jSOl).................................................................. 225,000 3,000,000
x Anniston Eleo. & das Co. 1st M , due 1929.........
50,000
300,000
x Asheville (N. C.) Electric Co. 1st M., due 1941... 200,000
750,000
Houston Lighting & Power Co. 1st M., dne 1932 (V.
73, p .1 2 6 7 )....................................................................... 150,000
750,000
x Indianapolis & Northwestern Trao. Co. 1st M .,
dne 1923.............................................................................. 125,000 3,000,000
x Columbus Newark & Zanesville Eleo. Ry. IstM .,
dne 1 9 24.............................................................................. 100,000 2,000,000
x Compare St r e e t R a il w a y Seotlon.
y Of this amount $214,000 is reserved to retire a like amount of
Chat. Light & Power bonds dated 1895 ($100,000 authorized).
“ All the companies in the above list earn a surplus over fixed
charges and the corporation is required to keep the principal of imerest-paylng bonds under pledge equal at all times to at least 125 p o.
of the principal of the collateral trust bonds outstanding. Upon the
retirement of collateral trust bonds the corporation is permitted to
withdraw collateral securities to an amount of prinolpal not exceed­

Tke oompany was incorporated in 1902 1 under the laws of W est
Virginia, and in 1904 absorbed the International Mahogany &
Trading Co. The total authorized issue of oapital stock is $ 3 ,5 0 0 ,0 0 0 ,
all of one class; par of shares $ 100; “ issued and fully paid,” $2,000, 000; “ in treasury and withdrawn from sale,” $1,500,000.
The morrgage oovers entire property, lnoinding “ Romano conces­
sion,” 100,000
aores on the River Uaumancinta Palenque,
Chiapas; 100,000 acres in the same locality known as “ Dorantes
concession.” and the “ Sohlndler concession,” containing 284,000
aores, In Chilon Chiapas, and also ail chattels at No. 200 Lewis St.
and at the corner of West and Eagle streets, In New Y om City, and
all fixtures and ohattel property located at Nos. 1120 to 1150 West
Front St. in Cincinnati. A 20 mile railroad Is to be built, on the
Romano tract. Robert Laldlaw la President, Lula M. Moragnea,
Mobile, Vice-President, Geo. F. Montgomery. General Manager, Wm.
Farnum, secretary and Auditor. Main office, foot of East 6th St.,
New York City.

International M e r c a n tile M a rin e Co.— Broker’s State­
ment.— See advertisem ent of Claude A eh brook on an oth er
page.— V. 79, p. 2460, 2207.

International Paper Co.—New Bond Issue.— The d ire ct­
ors are reported to nave authorized the m a sln g o f a new
m ortgage to secure n ot exceedin g $10,009,000 o f 5 p. c. bonds
to provide additional w ork in g capital and for im provem en ts,
and to take np floating debt in cu rred fo r new acquisitions,
etc. The m ortgage, it is stated, w ill be a first lien on p rop ­
erty n ow w ith ou t in cu m bran ce and a blanket m ortgage on
the rem ainder o f the com p a n y ’s assets. In the absence o f
any authoritative statem ent, the fo llo w in g has been com p iled
from the daily papers:
The directors believe that the issue of these bonds would make the
oompany Independent of the banks, reduoe operating expenses, in­
crease net earnings, and place the common stools in line for dividends.
The oompany owns a number of undeveloped water powers, which, if
developed, at an outlay of sav $2,5o0,000, would permit of the grind­
ing of more pu'p and thus effect a material doorcase in the oost of
production. The oompany is producing at present i,800 tons of news
print per day, the largest output in its history, and 1,300 tons par day
in excess of the output a year ago. The net income is also h efer, for
while the oost of pulp ana other raw materials has increased, the prioe
received for paper is 2 ^ oents per pound, as against likoents last
year.—V. 79, p. 788, 784.

204<)

THE CHRONICLE

In te r n a tio n a l S a lt C o .—See Independent Salt Co. a b o v e .
— V . 79, p. 2591.
J a ck so n Ir o n Sc T in p la te C o .— Sold. —T his co m p a n y ’s
plant was bid In b y the b on dnolders on Dao. 8 fo r $02,000.—
V . 78, p. 1785.
L ack aw an n a S teel Co .—Steel Rail Allotment .— The decision
o f the nm pire tou ch in g the points at issue betw een the Steel
R a il A ssociation and the L ack aw an n a 8teel Co. is understood
to have been handed dow n last week, but w h at share o f the
steel rail ou tpu t It allow s to the Lackaw anna is n ot k now n
C urrent guesses p 'a c e the figure as low as 15 p. c., althou gh
m u ch m ore than that is said to have been d em an ded.— V . 79,
p. 1957.
L e h ig h C oal S N a v ig a tio n C o.— Sale H a lts-D ep o s its
c
Continue .— It w as announced on M onday th at the n egotia
tions, ow in g to w h ich the shareholders w ere asked to deposit
th eir certificates w ith G eorg e H . E ir le Jr. P resident o f the
F in an ce C om pany o f P ennsylvania, had been suspended b e ­
cause o f the request fo r an “ im possible d elav” in consum
m atin g the purchase. The N ew Y o rk N ew H aven & H art
fo rd R R . C o ., it transpired, had been the prosp ective p u r­
chaser. T h e price w as to be $150 per share (par $50) fo r a
m a jo rity o f the $15,801,800 stock , w ith the option to all the
shareholders to receive the sam e term s. N early tw o-th ird s
o f the stock had been deposited prior to D ec. 7, and the su b ­
sequent deposits w ere said on Dec. 8 to have exceeded the
am ounts w hose holders gave n otice o f w ith draw al.
T he deposit agreem ent was to con tin u e fo r 80 days fr o m
D ec. 5, su b ject to the sale o f the stock at $135 a share or
better, but it is th ou ght that a m a jo rity o f the stock w ill be
allow ed to rem ain in the p ool fo r an indefinite period, “ u n ­
less sold in the m ean tim e.” G eorge H . E arle Jr. said: “ F o r
reasons w h ich I can n ot d ivu lge, I do n ot feel j ustified in at
on ce retu rn in g the stock deposited w ith me. T h e sto ck h o ld ­
ers have the rig h t, h ow ever, to w ith d ra w it on five days’
n o tice .” T he ow nership o f one-third o f the stock has h ere­
tofore been reported unofficially as fo llo w s : F irst N ational
Bank, N ew Y ork , betw een 30,000 and 50,000 shares; G eorg e
H , E arle J r. and associates, 25,000 to 30,000; L e w is A . R iley ,
estate o f A b ra m S. H ew itt and the M cK ean estate estim ated
at 50,000 shares.
P resident R ile y on D :c . 6 ga v e ou t substantially the f o l ­
lo w in g :

[V ol.

l x x ix .

First—That all ooal mined by the parties of the first part on lands
now owned by them or that mav bn hereafter acquired by them shall
he sent to market over the roads of the parties to this avr-ement when
destined to points or markets reached by 'he said roads; and when
destined for markets not so reached It shall be sent as far as practlosble over said roads, excepting always ooal destined for shipment by
canal. * * * Provided, that one-fonrth of the ooal mined annually
by ihe parties of the tlrst part In the Wyoming region m y he sent
to markets not reached by lines rnnnlng towards the Delaware R'ver.
Second—The parties of the first part covenant and agree that In
case the coal lands now owned and held by them, or that may be bfereaher acquired by them, shall be sold, leat-ed or transferred by them to
other parties, all snoh lands shall nevertheless be subject to the pro­
visions of this agreement.

Consolidation o f Controlled Roads.—See Lehigh & New
England RR. above.—V. 79, p. 2591, 2460.
Maritime Sulphite Fibre Co., Chatham, N. B.— Sold.—
Tbis company’s property has beeD acqnir d bv George Keyes,
President of the Nashua River Paper Co., Et»t Pt-pperell,
Mass, [for a sum unofficially stated as $250,000], and will
be transferred to a new corporation known as the Miramiohi
Pulp & Paper Co., Limited, with $301,000 of authorized
capital Btock. The plant will soon be again in operation.
Compare V. 78, p. 1220.
The Nashua company at last aoconnts had outstanding $250,000
capital stock; also an Issue of 6205,000 6 p. o. bonds due lu '9 1 4 , int­
erest Feb. 1 and Aug 1 at Old Colony Trust Co., Boston. Capaolty of
Pepperell mills, 60,000 lbs. each 24 hours. Compare V. 78, p. 1226.

Montgomery (Ala.) Light S Power Co.—Earnings.—
c
Hambleton & Co., Baltimore, who are offering $106,O O prior
d
lien 5s at 102% and interest, report the earnings for th« eight
months endiDg Aug. 31, 1904, as follows: Gross, $135 949,
against $121 320 in the same period of 1903; net, $72 479,
against $63,995; interest on prior lien bonds, $10,000 in each
oase.—V. 74, p. 1811.
Nashua River Paper Co., East Pepperell, Mass.—P u r­
chase.—See Maritime Sulphite Fibre Co. above.

National Enameling S Stamping Co.— Dividends.—The
c
company has declared a nine months’ dividend at the rate of
7 p. c. per annum on its pref. stock and a similar dividend at
the rate of 2 p. c. per annum on its common stock, payable
in three quarterly instalments of \% d, c. and of 3^ of 1 p c.,
respectively, on Jan. 1, April 1 and Jaly 1. For tne purpose
of paying the first instalment the transfer books of both
stocks will be closed on Dec. 16. The dividends are declared
for niDe months only, instead of for the entire year as here­
About ten days aero a friend called upon m i and asked for a oopv of tofore, in order to complete the payments to the end of tbe
the lease of the Lehigh & Susquehanna RR. tojthe Central RR. of New
The dividends on the
Jersey, explaining that he did so at the request of T. P. Fowler. Presi­ fiscal year, which ends on June 30
dent of the New York Ontario & Western RR. Oo., a3 the New York common shares from January, 1903, to October, 1904, in­
New Haven & Hartford people wanted to examine it. He inquired clusive, were at the rate of 4 p. o. per arinnm. The reduc­
-whether a majority of the stock could be obtained. I replied thaT; £
did not believe that it could be had for less tbau $150 a share. On tion of 2 p. c. a year on the common stock is made in order
Nov. 29, upon request, I went to Mr. Fowler’s ofB -e and he said that to strengthen the reserve fund.—V. 79, p. 731.
the New York & New Haven wanted to get 51 p. o. of the stock, and
New England (B ell) Telephone & Telegraph Co.—Reduc­
■was willing io pay the price named. I replied that under no circum­
stances would I enter into negotiations for a sale of the m a ority un­ tion in RaUs.—The company has reduced service rates at pay
j
less he same offer should be made to all the stockholders.
stations in B iston proper from 10 to 5 cents per call.— V. 78,
The manner of payment was discussed; and he said that they were
ready to give ca*h or bonds of the Ontario & Western RR , guaranteed p. 2337.
by the New York New Haven & Hartford, and that a syndicate in­
New York S Boston Dyewood Co.—Stock Reduction.—The
c
cluding Messrs. Kuhn, JLoeh & Co. would underwrite It. Mr. Fowler
suggested that Mr. Earle, of whom he knew as a large holder, might shareholders have duly approved the proposition to reduce
secure the authority to represent a majority of the stock, and when the capital stock from $1,200,000 to $600,000.—V . 79, p. 2208.
that was obta ned they would close the matter. The next day I wrote
a letter to Mr. Fowler, calling his attention to t i e fa c t ' hat the par of
our stock was $50 a share, and giving the total number of shares. I
asked him ll he understood that the price of 16150 applied to that num­
ber of shares. On Thursday I received an affirmative answer.
On Saturday, after a meeting of the Executive Committee, Me.
Earle, having secured the authority of the holders of a majority of the
st’ ck. and myself went to Warwick, N. Y ., to see Mr. Fowler. We left
■with the understanding that Mr. Earle would remain in New York to
conclude the transaction. Mr. Fowler did not call upon him until after
dark Monday afternoon, explaining that, he had been to New Haven
to see Mr. Mellen, and stated that Mr. Mellen was just as anxious as
ever to carry out the purohase, hut that he Insisted upon having more
time. As this was a departure from the agreement under which the
authority to sell was obtained, this information is given at the earliest
possible moment.
While this result may seem disappointing, I deem it my duty to say
to the stockholders that the intrinsic value of their st ok is already In
excess of the prices named, and that the lime has arrived when they
may reasonably expeot a commensurate return in dividends that will
fully compensate them. The earnings have already reached a sum
equal to the proposed guaranty [ i2 p. o.], and by a retention of their
stock the shareholders will participate in the increase of value that is
taking plaoe.

A s to the suspension o f n egotiations w ith th e N e w H aven
people, Mr. Earle says that this resu lt was b rou g h t a b ou t,
n o t because the stock w as not g ood , but because it w as to o
g ood to perm it any one o f the great railroad rivals to con trol
it. It is also rum ored that the P enn sylvania and N ew Y irk
C entral roads threatened to parallel th e N e w H i v e c r o a d
fro m N ew Y ork to B iston in case the sale w en t th rou gh , and
in this con n ection it is rem em bered that reports have re
cen tly been cu rren t o f preparations for a c u t-o ff fr o m W h ite
Plains, N. Y , to Springfield, M esa., to com p lete a d irect line
fo r the C entral betw een N ew Y"ork and Boston.
On the oth er band, P resident Mellen o f the N ew H rven
road states that his letter o f N o v . 25, w h ich has been pu b
lished in the daily papers, was pu rely a request fo r in fo r ­
m ation , and that on M onday last be w as in form ed that “ the
L eh ig h Coal & N av ig a tion C om p an y’s stock co u ld be had at
a price w h ich was nam ed, and I d eclin ed to consider the
purchase.”
Im portant Provisions in Lease .—The lease o f th e L ehigh &
Susquthanna R R . to the C entral R R . o f N ew Jersey, m ade in
1871 by the L eh ig h Coal & N a viga tion C o ., con tain s the f o l ­
lo w in g provisions as to disposition o f coa l traffio, w h ich , it is
th ou gh t, w ill have an im portan t bearin g on the fu tu re o f
the several interests in v olv ed in case a sale o f the L e h ig h
C oal & Nav gation Co. is to b e effected .

Omaha (Neb.) Electric Light S Power Co.—B onds.—See
c
Electrical Securities Corporation above.—V. 77, p. 801.
Pittsburgh Steamship Co.—Called Ronds.—There are
called for redemption at par at the Uaion Trust Co. in Pitts­
burgh, Pa., on Jan. 1, $187,000 of this company’s first mort­
gage 5s of 1900.—V. 78, p. 50.
Portsmouth Berkeley & Suffolk Water Co.—Sold.—The
American Waterworks & Guarantee Co. of Pittsburgh on
Dec. 1 arranged to purchase all of the $500,000 capital stock
and about $450,000 first consolidated mortgage bonds. The
bonds were purchased from the Railways & Light Co. of
America, Baltimore, Md., being part of an authorized issue
of $1,000,000, of which $519,000 is outstanding and $481,000
reserved for underlying bonds. See full particulars, V . 79,
p. 2208, 274.
Pressed Steel Car Co.— Orders.—The Pittsburgh corre­
spondent of a leading technical paper telegraphed th9 fol­
lowing to his principals on Nov. 80:
Orders for fully 30,000 oars have been plaoed, thebnsiaess being
about equally divided between the Pressed Steel Oar Oo. and Standard
8teel Oar Oo. of this city and the American Oar < Foundry O *. of
&
Detroit. It is said that before Janaary 1 orders for fully 7 ■ ,OOO oars
>
will have been plaoed. The two looal works of the Pressed 8 tee'O ar
Co. and the plant of the Standard Steel Oar Oo. at Butler are now In
operation to fall oapaolty, the first time for more than a year.—V. 7 9 ,
p. 1957, 2476.

Reserve GUs Co.— Status.—See Union Natural Gas Cor­
poration on page 2641.—V . 78, p. 992.
Rich Gas Co., Wheeling, W. Y a.—Neio Securities.—The
shareholders will m*et at the office of the compaov in the
Board of Trade Building in Wheeling on Dec, 29 to vo e
upm increasing the capital stock to such amount as may be
deemed necessary, and also on antho izing a new mortgage
to secure $100 000 bonds in order to pay off the existing
bonds and for other purposes.
Sherwin-Williams (Paint, Etc.) Co., Cleveland, 0 .—
R eport.—Extensions.— At a recent meeting of the company’s
representatives the following information was made public:
During the last 12 months, despite the quietness of trade, the com­
pany’s business has steadily inoreased and the year Just olosed was
hr far the largestln Its history. A new paint plaot w-ts oompleted at
Montreal which is the largest of Its kind in Oanata; new general
offioes were oompleted at Cleveland; another factory was erected at

D e c . 10, 1904.

2647

THE CHRONICLE

O 'loago; the w areionse capacity at Newark was Increased; large
fX ’enslons are n"W being made to the linseed-oil mill at Cleveland; a
new distributing point has ju st been opened at Portland, and other
depots are to be established shortly at Cincinnati and at Savannah.—
y . 76, p. 1 4 .1 , 107.

•ghe

© o m

r a jc r a a l

COMMERCIAL

ji n x e s .

EPITOME

Toronto & Niagara Power Co.—Debenture* Offered.—Geo.
F riday Night, December 9, 1904.
A. Stimson & Co., Toronto, Canada, are offering the first
mortgage 5 p. c, gold bonds of the Electrical Development Co.
The approaching holiday season is becoming a factor In
(Toronto & Niagara Power Co.) at between 93 and'par, with the business situation in a number o f lines o f trade, mer­
a 50 p. c. stock bonus. A circular says:
Cold bonds dared Mar oh 1st, 1903, due March 1st, 1933. Interest
half yearly, 1st, March ai d September. Interest and principal payable
at the Bank o f Commerce In Toronto, New York or London, E> gland;
amount o f bonds Issued, $*,000,000. Capital stock is $6,< 00,000. The
company has a franchise for, and Is developing. 125,000 horse power.
Owns some 600 acres o f land just above the works, which It proposes
selling to manufacturers and others using their p o w e r; also owns pri­
vate right of-way, 80 ft. wide, from Niagara Palis to Toronto. At T o­
ronto the company has entered into favorable contracts with the T o ­
ronto St. Ry. and the Toronto Electric Light Co. to supply all their
power The estimated proflt^in these oontraots we believe will pro­
vide all interest and maintenance charges, leaving a surplus for
dividends. About, 2 * , 0 0 0 horse pow er will at present provide for
these oontraotp, thus leaving 1( 0,000 horse power to sell to others in
Toronto and elsewhere. When ail the power is disposed of at, say,
$30 per horse power (which price we believe can be realized) the
income should amount to over $3,500,000 per annum.

chants showing a disposition to hold off from making new
purchases o f importance until after the turn o f the year.
The undertone o f confidence, however, has continued
general, the reactionary
spasm
of
the speculative
W all
Street market
earlier
in
the week having
comparatively little influence up on the
commercial
world.
Prices for cotton have suffered a sharp de­
cline, based on the Government’s estimate o f the crop
placing the yield o f American cotton at 12,102,000 bales.
Buyers o f cotton goods are holding back, awaiting a re­
adjustment o f the market to the indicated larger supply and
lower cost o f raw material. N ew -crop corn is now com ing
to market with considerable freedom, and with the increased
offerings exporters have entered the market as free buyers.
Lard on the spot has had only a limited sale, buyers gener­
ally holding off, but as there has been no especial pressure to
sell, no pronounoed weakness to prices has developed. The
close was firmer at 7 30c. fo r prime Western and 6 50@6'75c.
for prime City. Lard has been quiet and a shade easier,
closing at 7 35c. for refined fo r the Continent. Speculation in
lard for future delivery has been moderately active. Prices
heve declined slightly under the larger receipts o f sw in e,
To-day the market was firmer on buying by packers.
DAILT O SH PRICES OP LARD PDTURSB IN CHICAGO.
LC SG

The plant of the Electrical Development Co, is expected
to be completed next rammer. The electricity, or a portion
of it, wdl be transmitted to Toronto, a distance of 75 miles,
by the Toronto & Niagara Power Co., over its 80-foot right
of way, upon which there may also be bnilt a donble-track
railway. For list of tffioers and other data see Chronicle,
V. 79, p. 274.
United Box Board & Paper Co.—Called B onds—First
mortgage 6 p. c. gold bonds issued in 1891 by the American
Straw Board Co., to the amount of $39 000, will be paid at
par and interest at the International Trust Co., Boston, on
Feb. 10, 1905.—V. 79, p. 2476, 1720.
United Gas & Electric Co., Dover, N. H.—Bonds. Etc.—
Mason, Lewis & Co. are offering at 102% and interest a small
block of the first mortgage 5 p. c. gold bonds, dated March 1,
S at
1897, due March 1, 1917; interest payable semi-annually at
office of Union Safe Deposit & Trust Co., Portland, Me., Deo. del’ y.............. 6-92ia
Jan.del'y............. 6 9 7 ^
trustee.
May del’y . . . . . . . . . 7 4 7 »«
This oompany controls the gas and electric plants which supply
Hover, Rochester and Somersworth, N. H., and Berwick and North
Berwick, Me. Population o f this territory about 35,000 Capital
stock authorized and issued, $250,000; first m ortgage bonds author­
ized and issued, $250,000; estimated cost of property, $722,000. Sur­
plus earnirgs for the year ending Feb. 28, 1903, after paying interest
charges of $12,500, were $30,289.

The property of the Dover Gas Light Co, is operated under
lease.
United States Leather Co.—Plan.—The recent marked ad­
vance in the price of this company’s shares is supposed to
indicate satisfactory progress with the plan of prominent
interests for the discharge of the 41 1-12 p. c. of accumula'ed dividends on the preferred stock. Compare previous
plan in V. 76, p. 1196, V. 78, p. 50.—Y. 78, p. 817.
United States Shipbuilding Co.—Stocks of Subsidiary
Companies Sold.—At the receivers’ sale on Dec. 8 the stocks
of the subsidiary companies were bid in by George R. Shel­
don, Chairman of the reorganization committee, at $350,000,
an advance of $150,000 on his earlier bid.—V. 79, p. 1957,1334.
Virginia Bridge & Iron Co., Roanoke, Va.—Acquisi­
tion.—This company recently increased its capital stock,
authorized and outstanding, from $800,0C0 to $550 000 (par of
shares $100), and purchased the new plant of the Carolina
Steel Bridge & Construction Co. at Burlington, N. C. No
bonds or mortgages.

Mon.

6 87^
6 92»*
745

T u t*

W ed .

6-821*
0-87ia
740

...........
6 85
T07*a

S h u rt

fr i.

6 -77^ 6’85
6 80
6-90
7-05
7 12ifl

Pork has been quiet but prices have been unchanged and
steady, closing at $13 25@13 75 for mes3, $13 75@16 for short
clear and $14 50@15 50 for fam ily. Cut meats have had only a
moderate sale; prices have not changed from 7J^c. for pickled
shoulders, 9>£@10c. for pickled hams and 'i% @ 8 ^ c . for
pickled bellies, 14@10 lbs. average. Beef has been quiet and
unchanged at $9@9 50 for mess, $1C@11 fo r packet, $10 50@
11 50 for fam ily and $18 50@17 for extra India mess in tes.
Tallow has held steady, closiog at 4% c. Stearines have been
quiet but steady at 7>£@7%c. lor lard stearines and
b^t@ 0^c. for oleo stearine. uotton-seed oil has been fairly
active at lower prices, closing at 24%@25c. for prime yellow.
Butter has been in fair demand and firm at 17@27}^c. for
creamery. Cheese has been fairly active at advancing prices,
closing at 8>£@12c. for State factory, full cream. Fresh eggs
have had a fair sale at steady prices, closing at 53c. for best
Western.
Brazil grades o f coffee have been in more active demand,
nnd with decreasing receipts the market closed stronger at
8%c. for R io No. 7 a n d 8 ^ @ 9 c. for Santos No. 4. West Iadia
growths have had a fair sale and at firm prices, closing at
9%c. for good Cucuta and 11c, for good average Bogota.
Speculation in the market for contracts has been more active.
A fairly large decrease in reserve stocks during November
and decreasing receipts of Santos coffee had a bullish influ­
ence and prices advanced.
The follow ing are the closing asked prices:

This acquisition Increases the capaoity of ihe com pany from 12,000
7*55e. > ug......................
A
to over 20,ooo tons o f manufactured material per annum. The Vir­ Deo.................. 7 OOo. jM a y .
ginia Iron & Bridge Co. was incorporated in 1895 with $ 00,000 J a n ................. 7 4 5 o, Jun e................... 7 ’65o. iS ep t.................... 7 ,95o.
J
capital stock, and its shares are all of one class; the new issue was March . . . . . . . . 7'35o. I u ly ............. . 7 75o. O o t ...................... 8’OOe.
subscribed for by the stockholders. The oompany manufactures steel
R aw sugars close excited and higher on a reduced estimate
and Iron bridges, girders, turntables and structural work. C. Edwin
Michael coniinues as President; Secretary, H. E. Obenshain; Treas­ of the European beet sugar crop. Centrifugals 96 deg. test,
urer, T, T. Fishburne. Office, Roanoke, Va.
quoted at 4 ^ c ., and muscovado, 89-deg. test, at 4%c. Refined

Waterbary Clock Co.—New Stock,—This Connecticut cor­
poration, organized in 1857, has filed a certificate of increase
of capital stock from $1,00",000 to $2,000,000, The new
stock will be issued at once at par ($100per share); purpose
not stated. No bonds or mortgages outstanding. President,
Henry L, Wade; Secretary and Treasurer, Irving H. Chase,
Waterbury, Conn. A New York corporation of the same
name and with $10,000 capital stock has its office at No. 10
Cortlandt Street.
Zanesville Iron Co.—Plant Sold.—This company’s plant
was sold at auction Nov. 26 to M. Sohonberg of Newark,
Ohio, for $24,005.—V. 79, p. 1283,
—A careful study of the International Mercantile Marine
Co. has been made by Mr. Claude Ashbrook of Cincinnati, and
may be found in onr advertising columns. From the show­
ing of earnings made by the constituent lines for four years
prior to the amalgamation, and with the rates about to be
restored, which it is understood has been agreed upon, it is
argued that the preferred stock, with its two years of cumu­
lative dividends aggregating 12 per cent, is selling too low at
the present quotation of about 80.

—F. J. Lisman & Co. offer for sale a number of unlisted
railroad stocks. The advertisement is on page viii.

firm and higher, closing at 5 ^Sc.Qi'SSc. for granulated.
Other staple groceries have been quiet.
Business in the market for Kentucky tobacco has con ­
tinued fairly active and at a full basis o f values. Seed-leaf
tobacco has continued to meet with a fair sale and the busi­
ness transacted has been at firm prices. Sales included 1,500
cases Pennsylvania 1903 crop at 14c. to 15c,, fillers out.
Sumatra and Havana tobacco have continued in fair demand
and firm.
Reflecting weaker advices from London, the local market
for Straits tin has been weaker and prices have declined.
The close was steadier at 28’65@28 85c. Ingot oopper has been
quiet and easier at I4%@15c. for Lake. Lead has held steady
at 4‘7c. Spelter has been firm at 5 75@5‘87>^c. P ig Iron has
been in active demand for forward shipments, closing at
$16 75@17 25 for No, 2 Northern and $17 25 for No. 2
Southern.
Refined petroleum for export has con tin u e! in fair demand
and firm, closing at 7‘95c. in bbls,, 10 65c. in cases and 5'65o.
in bulk. Naphtha has been steady at l l ^ e . for 71 degrees
and 12c. for 76 degrees. Credit balances have been firm,
dosin g at l ’60c. Spirits turpentine was fairly active and
higher early in the week, but closed lower at 51>£c. Rosins
have been dull, with sellers at $3 90 for comm on and eood
strained. Hops nave been quiet and slightly easier. W ool
has continued firm.

^(>18

T H E CHRONICLE.

C O T T O N
F r i d a y N ig h t , D ecem b er 9, 1904.
T he Movement of the C rop as Indicated by onr telegraim
from the South to -n ig h t 1b g iv en below . F or th « w eek ending
this evening the total receipts have reaohed 382,495 bales,
against 877,484 bales last w eek and 869,909 bales the previous
w eek, m ak in g the total r e n e p t s sinoe the 1st o f Sept., 1904,
4,970,257 bales, against 4,349,369 bales for the sam e period of
1903 sh ow in s an increase sin ce Sept. 1,1904, o f 020,888 bales.
R e c eip ts a t—

S at.

M on.

T u es.

W ed .

T o ta l,

S ri.

T h u rs.

Galveston...... 15,122 14,072 23,847 17,284 11,169 12,737 93,731
Pt.Arthnr,&c 6,896
2,348 19,545
10,301 ......
New Orleans... 17,807 16,274 29,487 18,233 14,911 13,978 110,690
1,609 4,565 2,252 1,226 2,250 1,569 13,471
M obile............
12,283 26,159
Pensacola, <feo. 5,781 7,455
610 . . . . . .
. . . . . .
Savannah........ 12,120 9,031 14,994 7,707 7,579 9,231 60,662
. . . . . .
...... . . . . . . 10,864 10,864
Brnnsw’k, &e
. . . . . .
867
Charleston. . . .
895
647
546 1,607
773
5,235
Pti. Royal, &.G.
97
97
440
7,024
W ilm ington.... 2,224 1,524 1,070
836
931
......
........
......
. . . . . .
. . . . . .
Wash’ton.&c.
Norfolk............. 2,904 3,826 8,190 3,819 3,500 2,636 24,875
268
268
,.o a
. . . . . .
. . . . . .
. . . . . .
N’p ’t News, &o.
150
300
Nftw Y ork.____
50
100
444
6,447
440 1,335 1,825 1,692
B oston.............
711
Raltlmoro_
_
2,598
2,598
529
133
25
200
100
71
Philadelp’ a, A c
Tot. this week

56,066 58,082 82,388 61.877 42,858 71,224 382,495

T h e fo llo w in g sh ow s the w e e k ’s to ta l re ce ip ts, th e to ta l since
Sept. 1 , 19G4, and th e stock s to -n ig h t, com p a red w ith la st year.
1903.

1904.
R e c e i p t s to
D ec. 9

Galveston,..
Pt. Ar.,&o.
New Orleans
M obile.........
P’ saeola, &o.
Savannah...
Br’wick, &o.
Charleston..
P. Royal, &o.
Wilmington.
Wash’n, &c.
N o rfo lk .......
N’port N.,&c
New Y o rk ...
B o s t o n ... . . .
B altim ore..
Philadel.&c.

T h is
w eek.

S to c k .

S in c e S ep .

T h is

S i n c e S ep .

1, 1904.

w eek.

1,1903.

93,731 1,509,301 108,909 1,544,111
19,545
1,876
84,430
44,120
110,690 1,163,196 92,285 1,016,640
8,690 139,165
13,471 170,721
76,252
26,159
85,963 19,100
60,662 1,033,614 46,915 763,479
10,864 103,532
4,918
80,646
5,235 152,441
5,708 127,410
501
97
826
7,024 243,774 14,392 261,102
122
12
303
24,875 378,175 20,195 274,870
3,883
268
297
3,349
5,300
800
45
1,917
20,133
874
6,447
5,615
12,134
1,468
6,610
2,598
166
2.954
529
3,037

1904.

1903.

205,303

299,972

409,147
68,080

323,277
46,986

133,004
13,189
37,900

107,053
11,842
12,332

12,072

16,122

31,611
93,010
2,992
7,305
4,035

22,038
601
66,919
35,00.
10,534
2,375

Totals....... 382,495 4,970,257 325,350 4,349,369 1,017,648

955,081

. . . . . .

In order that a com p arison m ay b e m ade w ith oth er years,
w e g iv e below th e tota ls at leading p orts fo r s ix seasons.
R e c eip ts a t—

1904.

1903.

Galves’n, &e.
New Orleans
M ob ile .........
Savannah. ..
Chas’ton, <ke.
Wilm’ton &o
N orfolk ........
N. News, Ac.
A ll oth ers...

113,276
110.680
13,471
60,662
5,332
7,024
24,875
268
46,897

110,286
92,285
8,690
46,915
5,708
14,404
20,195
297
26,571

Tot. this wk.

382 495

325,350

1902.

1901.

59,558
76,9 L7
10,624
45,882
6,611
8,166
19,525
669
24,533

97,362 104,297
92,102
99,204
6,625
10,216
46 839
37,668
16,117
4,790
8,653
8,003
15,843
16,456
1,063
2,563
20,036
28,519

68,212
63,845
9,024
36,699
5,620
11,886
13,880
324
19,083

252,385 304,639 311,716

228,573

1800.

1899.

Sinoe Sept. 1 4970,257 4349,369 4131,009 4014,584 3986,756 3523,949

The exp orts for the w eek en d in g th is e v e n in g rea ch a total
o f 808,260 bales, o f w h ich 178,050 were to G rea t B rita in , 21,320
to F ran ce and 108,896 to the rest o f th e C on tin en t. B elow
are the exp orts for the w eek and sin ce 8 e p t. 1. 1904,
Exports
from—
Galveston..
Pt.Arthur, Ac.
New Orleans.
Mobile.........
Pensacola, Ac.
Savannah.....
Brunswick_
_
Charleston...
Port R oyal....
Wtlmlnfrton...
Norfolk......
N’port N., Ao..
New York......
Boston.......... .
Baltimore ..
Philadelphia..
San Fran., Ao..

Prom Sept. 1,1904, to Dec . 9, 1904
Week Ending Dec. 9, 1904.
Exported to—
Exported to—
Great : „
Conti­ lotal Great
Conti­
France
Total.
BUt’n.\Syance nent. Week. Britain
nent.
66,633
6.896
50,119
5,165
8,789
6,756
........
........
........
760
12,071
11,669
2.700
2.322

1,321 06,954
10,301 17,197
2.891 27,214 86,227
7,767
7,767
7,483 12,260 25 138
3,033 40,523 62,348
5,760
........ ........ ........
........
......
........
200

7.626

7,625

750
........
4,469 16,740
1 11,680
2,700
117 2,439
5,075 5,076

690,499
26,010
384.641
27,217
27,038
103,644
03,060

167,610
123,103
7,767
16,744
38,269
....

281.908 1,130,017
43,497
09,13
217,778 730,582
22,302
67,830
31,816
75,697
470,550 072,353
0,940
70,012
30.402
36,402

3,002 122,708 227.614
8,300
0,002
14,302
10,350 ........
600
10,w50
140.101 10,285
87,268 243,044
61,077
4,906
00,682
46,462 3,560
14,008
63,005
19,444
20,030
680
........
..... 43,409 43,469
1,765.753 874,330 1.392,004 3,632.092

In ad d ition to above exp orts, ou r telegram s to-n igh t also
g iv e us the fo llo w in g am ounts o f co tto n on sh ipboard, not
clea red , at the ports nam ed. W e add sim ilar figures for
N ew Y o rk , w h ich are prepared fo r our special use by
Messrs. L a m b ert & B arrow s, P ro d u ce E xch a n ge B u ild in g.
ON 8U IPBOARD, NOT CLEARED F O B —
D ec.

9

a t—

G reat
B r ita in

New Orleans.
Galveston.. ..
Savannah.. ..
Charleston. . .
Mobile............
Norfolk..........
New Y ork___
Other p o r ts . .

G er­
O th e r \ O oa str
F r ’n ce m a n y . F or’ y n
w is e .

L ea v in g
s to c k .

lo ta l.

10,059 28,282 25,366 18,595
564
38,997 9,946 27,614 16,949! 3,184
11,534
30,340 .........j 2,500
9.800 ........ 1 ..........
9,800 1,600 7.800 ........ 1 2,100
3,000
........ 15,000
500 3.000 2.000 ........
5, boo
3,000 ...... 4.000 1,000| .........

82,886
96,720
44,374
9,800
21,300
18 000
10,500
8,000

326,281
108,583
88 630
28.100
46,780
13,611
82,510
31,593

78,390 43,328 107,950 38,544 33,348 291,560

726,088

Total 1903.. 120,678 32,861 81,596 55,931 26,918 317,984
Total 1902.. 65,467 54,835 27,970 63,998 11,432 223,702

637,097
816,647

Total 1904..

Speculation in co tto n fo r fu tu re d eliv ery has been a ctiv e ,
and du rin g the first h alf o f the week the m arket wa3 d em or­
alized, due to the A g ricu ltu ra l B ureau’s estim ate m ade p u b­
lic last Saturday o f 12,162,000 bales as the yield o f the A m e r­
ican cotton orop , w h ich surpassed a ll ex p ectation s o f the
trade. T he low prices tou ch ed w ere 7 '65c. fo r M arch d e liv ­
ery and 7'75c. fo r M ay, sh ow in g a decline o f slig h tly ov er
one cent per pound fro m th e clo sin g prices o f last F rid ay.
F o llo w in g the large estim ate o f th e crop b y the G overn m en t,
selling becam e gen eral, specu lative holders liqu id atin g their
accou nts, and bear interests con tin u ed aggressive. A t the
break in prices b u y in g fo r the shorts to cover th eir
a ccou nts becam e free.
W a ll Street interests that were
understood to be largely arrayed on the bear side o f the m a r­
ket w ere a ctive buyers, co v e rin g their recen t sales at g ood
profits, and tem porarily w ith d rew fr o m th e co tto n m arket
to give th eir u ndivid ed attention to the ch a otic con d ition o f
the specu lative financial m arket. T he Southern m ark et
broke badly, fo llo w in g the decline in the m ark et fo r fu tu res,
and at the low er prices a large business, it is u nderstood, has
been transacted w ith spinners and exporters. T o-d ay there
w as a low er op en in g, reflectin g u n expected w eaker advices
fro m the L iv e rp o o l m arket. D a rin g the day there d evelop ed
g ood b u y in g , in part to co v e r con tra cts, and the early declin e
in prices w as m ore than recovered . It was pointed ou t that
th e indicated m ovem en t o f cotton fr o m plantations fo r the
week w as a lig h t one com p a red w ith the estim ates o f the
size o f the crop . It also w as rep orted th at Southern h olders
o f co tto n w ere sh ow in g increased firm ness, and th ere w as
less pressure to sell actual cotton. D u rin g the late trad in g
the m arket again turned easier and the close sh ow ed prices
net 3@ 5 points lo w e r fo r the day. C otton on the spot has
declined. T he close was at a re co v e ry o f 10 points fr o m the
lo w price touched, w ith m id dlin g uplands at 8 10a.
On th e basis o f th e rates on an d o ff m id d lin g as establish ed
by th e R evision C o m m ittee, th e p rices fo r a fe w o f th e
grades w o u ld be as fo llo w s:
UPLANDS.

S a t. in o n T u e s W e d

Good Ordinary..........................
Lo w M iddling.............................
M id d lin g ...................................
Good M i d d l i n g .. . .. . .. . . .. . .. . .
Middling Fair.............................

7-10
7-72

7 00
762
800
8-44
8*96

7-00
7- 62
800
88-96

T il.

F r l.

7 00
7 62
8 00
44
8-44
8'96

7-10
7-72
810
3-54
9-06

STAINED.
Low Middling ................. ...........
Middling. ............................. .
Striet Low Middling Tinged...
Good Middling Tinged..............

8'io

M on T ues W ed

Th.

7 85
8 47
8'85
»'2 9
9'81

7-35
7-97
8 35
y-79
9'31

7-25 7'35
7-87 i 7-97
8*25 8'35
8 69 i b'79
9-21 9 3 1

S a t.

Good Ordinary...........................
Low M iddling.............................
Middling......................................
Good Middling...........................
Middling Fair.............................

7 60
8’22
8 60
y 04
9 ’56
S a t.

GULF.

M on T ues W ed

8'54
906

7- 10
810
8 26
8-

6 60
7- 60
776
8- 60

7*25
7-87
8'25
869
9‘ 21

7 25
7 87
8 25
8 69
9-21

67- 50
7 66
8- 10

6-50
50
7'50
7 66
8-00
00

jF r l.

Th.

F r l.

6’50
7 50
7'66
8'00

6-60
7-60
78-

T he qu otations fo r m id d lin g uplan d a t N ew Y o r k
D ec. 9 fo r each o f th e past 32 years have been as fo llo w s.
1 9 0 4 ... .c. 8'10
1903... ...12 -40
1902... ... 8-50
19 01... ... 8-50
1900... ...10h i
1899... . .. 7 u , 6
4
18 98 ... ... 5131S
18 97 ... . . . 5^8

1896 . . . 0 . 7716
1895 ....... 8716
5%
1894.
1893. ....... 71310
1892 ....... 9 S
i
1891. ....... 8 i,«
1890 ....... 93g
1889. .......10M

1 8 8 8 ... 0. 978
18 8 7 ... ...lO ifl
18 86 ... ... 99,6
18 8 5 ... ... i>516
1 8 8 4 ... ...1 1
18 8 3 ... -.10916
1882 —
1 8 8 1 ... ...111516

on

1 8 8 0 ... .0.11 7g
19 7 9 ... ..137ie
1878 — .. 9
1 8 7 7 ... . . . l l i «
18 7 6 ... . . . I2 ie
18 7 5 ... ..1314
18 74 ... .. 14is
1 8 7 3 ... ..15<>8

MARKET AND SALES.
T he to ta l sales o f co tto n on th e sp ot ea ch d ay d u rin g th e
w eek are in d ica ted in the fo llo w in g statem ent. F or th e
con v en ien ce o f th e rea d er w e also add colu m n s w h ich sh ow
at a g la n ce h ow the m ark et fo r spots an d fu tu res clo s e d on
same days.

101,089

Total........... 178,050 21,320 108 h03 308,266
Total, ions .. 4* K H 15.9 >
27
•901 W 1.270.128 467 27- 1.338.288 3.065.089
U
7

I V O L. L X X I X .

Sp o t M a r k e t
C losed,
S a t u r d a y ..
M onday—
T u esday...
W ed n esd a y
T h u r s d a y ..
F r i d a y ........

F utures
Market
Cl o s e d .

Q u iet, 4 0 p t s .d e .
Q n iet, 5 0 p ts . d o
w u let, 1 0 p ts . do
s t e a d y ..............
s t e a d y - .............. .
Q u ie t ,1 0 p ts . ad.

B ’r ly s te a d y .
V ery s te a o y .
V e r y ste a d y .
V ery s t e a d y
V e r y s te a d y
S t e a d y ___

T o t a l ____ ................... . . . . . .

Sa les

of

Sp o t < Co n t r a c t .
fe

G onB um p.

C on­
tra ct.

....

....
....

3 ,8 0 0

....
....
—
...

--a.
....
30
....
SO
25 2 6 ,60 0 2 6 ,6 2 5

....

—

__

55 3 0 ,4 0 0 3 0 4 5 5

E x­
p o r t.

....

....

Total.

...
3 ,8 0 0

—

7
1

THE CHRONICLE

D e c . 10, 1904.]

F utures.—Highest, lowest and closing prices at New York,
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A t t h e I n t e r i o r T o w n s the movement—that is the
receipts for the week and since Sept. 1, the shipments for the
week and the stocks to-night, and the same items for the
corresponding period of 1903—is set out in detail below.

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Cotton to-night, as made up by

cable and telegraph, is as follows. Foreign stocks, as well
as the afloat, are this week’s returns, and consequently all
foreign figures are brought down to Thursday evening,
But to make the total the complete figures for to-night
(Deo. 9), we add the item of exports from the United States,
including in it the exports of Friday only.
1904.
1903.
1902.
1901.
Btookat uivw p ool^^bftlee. 599,000 408,000 407,000 594,00C
Stock at
15,000
6,000
10,000
8,000
Stook at Manchester._ _
_
27,000
42,000
Total Great Britain stock. 641,000 458.000 417.000 600,000
______ _
19 000
Stook at tlsui^ ui g „
13.000
6,000
12.000
Block at Bremen____
289,000 140.000 106.000 126,000
Stook at Antwerp. . . . . . .
4 000
3.000
5.000
5.000
Stook at H a v re ....___. . . . ___ 150,000 169.000
79.000 107,000
Stook at Marseilles________ _
3,000
2.000
3.000
2.000
Stook at Barcelona...______ _
11,000
27.000
43.000
32.000
20.000
Stook at Genoa...______ . . . . . .
20,000
89.000
22.000
Stook at
.._ ™ „
5,000
2,000
2.000
2,000
Total Continental stocks.. 501,000 384 000 283,000 300,000
Total European stocks___1,142,000 842.000 700,000 900.000
India cotton «au»<i for aurope 27.000
11,000
35.000
36.000
Amer. cotton »flo»tforE’rope. 893,000 903.000 718.000 852.000
Egypt, Brazil, Ac., *flt.for E’pe 58,000
63,000
77.000
99,000
Stook In Alexandria, Egypt... 172,000 182.000 163,000 194.000
Stook In Bombay, I n d i a . . 260.000 129.000 186,000 124.000
Stook in United States ports.. 1,017,648 965,081 1,040.349 930,587
Stook in U. 8. interior towns. 774,056 534,659 570,527 695 416
57,391
United States exports to-day.
34.409
30.511
50,194
Total visible supply.......... 4,378,113 3,688,251 3,563,070 3,827,394
Of the above, totals of Amorloan ana other descriptions are as follows:
Im irtM N Liverpool stook.... . . . . . bales 545.000 327.000 346,000 509,000
Manchester stock........ ............
36,000
23.000
Continental stocks_____ — T 447.000 349.000 260,000 263.000
Amerlean afloat for Europe.. 893.000 903.000 718,000 852.000
United States stook_____. . . 1,017,648 9 5',081 1,040.349 930,587
United Stateslnterlor stocks 774,056 534,659 570.527 695,416
57,391
34,409
30,511
50,194
United Stateaexports to-day.
T ota l A m erica n .
3,734,113 3,135,251 2,985,070 3,307,394
Matt Indian, Brazil, de.—
Liverpool atonk........... ...T 54,000
81,000
85.000
61,000
6,000
London stook.................. ........
15,000
8,000
10,000
Manchester stock.............
4,000
6,000
" 37,000
'23,000
Oontiuent»j s. uckb______ ___
54 000
35,000
11.000
36.000
India afloat for E u r o p e . . 27,000
35,000
63.000
99.000
Egypt, Brasil, * o ., afloat___..
58,000
77,000
194.000
Stock in Alexandria, Egypt... 172,000 182.000 163.000
Bteok in Bombay, I n d i a . 260,000 129,000 186 000 124.000
Total Bast India, Ac.
„ 644 000 553.000 578,000 620,000
Total American_____
. 8,734,113 3,135,251 2,985,070 3,307.394
Total Visible supply.......... 4,378,113 3,688,251 3,563,070 3,827,394
Middling Upland, Liverpool..
419d.
6 68d.
4 54d.
4i032<
l
Middling Upland, New York,.
,8-10c.
12-40c.
8-55o.
8**e.
Egypt Good Brown, Liverpool
8iJ6d.
8i3i6d.
7 % !.
7^.
Peru* Rough Good, Liverpool 10 60 d.
9-5od
7-lOd.
7d
4*sd
G^d.
4\d.
4iB32d
Broaoh Fine, Liverpool..........
Tlnnewellv Good. Lf»erpoo ...
47lfld
e^d.
42& d.
33
49i6d.

Continental Imports past week have been 123,000 bales.
The above figures for 1904 show an increase over last week
of 247,197 bales, » gain ol 689,862 bales over 1903, an excess of
815,043 hales over 1902 and a gain of 550,821 bales over 1901.

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The above totals show that the interior stocks have in­
creased during the week 7,910 bales, and are to-night 239,397
bales more than same period last year. The receipts at all the
towns have been 14,022 bales less than same week last year.
O v e r l a n d M o v e m e n t f o r t h e W e e k a n d S i n c e S e p t . 1 .—

We give below a statement showing the overland movement
for the week and since Sept. 1, as made up from telegraphic
reports Friday night. The results for the week ending
Deo. 9 and since Sept. 1 in the last two years are as follows.
1904.

December 9.

Week.

1903.

Since
Sept. 1.

Week.

Since
Sept. 1.

Skipped—
V ia
Via
Via
Via
Via
Via

St. L o u i s ....................... .
C a iro.......................................
Rook Isla n d ............ ...............
L o u i s v il le ............... .
C incinnati.............................
other rou tes, <feo.................

28,534
17,952
2,317
4,625
3,292
13,871

176,146
127,347
18,282
29,570
18,054
73,997

29,976
24,291
849
4,246
1,381
11,462

140,469
119,367
4 ,0 -5
20,702
10,017
71,685

70,591

443,416

72,205

366,315

Overland to N. Y ., B oston , <&c..
Between in terior t o w n s . . . . . . . .
Inland, <feo., from South.............

9,874
955
110

40,604
3,685
11,920

2,553
249
722

17,096
9,712
15,483

T ota l to be deducted................

10,939

56,209

5,524

42,291

Leaving tota l n et overla n d ’-.. 59,652 387,207
* Including m ovem en t by rail to Canada.

68,681

324,024

T otal gross ov erla n d ............

Deduet shipments—

The foregoing shows that the week’s net overland movement
this year has been 69,f52 bales, against 68,681 bales for the
week in 1903, and that for the season to date the aggregate net
overland exhibits an increase over a year ago of 63,183 bales.
In Sight and Spinners’
Takings.

1903.

1904.
_

,

Week.

Since
SepL lt

Week.

Sizice
Sept. 1.

R eceipts at ports to D ec. 9 .......... 382,415 4,970,257 35?5,350 4,349,369
Net overland to Dee. 9 ................... 59,6521 387,207 68,681
324,024
Southern consum ption Deo. 9___ 43,OOO! 571,0U0 42,000 579,000
Total m arketed..... ................... 485,14 7 !5,928,464 436,031 5,252,393
Interior stooks in e x ce ss...............
7,910 711,796 30,253 523,057
Came Into sight during week. 493,057
............ 466,284
........ 6,640,260
5,775,450
T otal In sight Deo. 9 ................
North, spinners’ tak’gs to Deo. 9..

98,4021

899.158 120,261

806,516

Movement into sight in previous years.
Week—
1902-D e o .
1901—Dec.
1 9 0 0 - Deo.
1899—Deo.

BaUt.
12..................
13.............
1 4 ...................
15 ..................

336,104
433,505
459,-: 06
327,714

S i n c e S e p t.

1—

H a le s .™

1 9 0 2 - Dec. 1 2 ........

5,705,390

1PC1—D eo. 1 3 .................

5 ,5 7 1 .0 6 1

1800—Deo. 14 ............... 5,724,186
1899—Deo. 1 5 ................ 5,208,582

2650

TH E CHRONICLE.

[V O L . L iX lX .

Q uotations for Middling C otton at Other M arkets .—
Nashville, Tennessee.— We have had rain on one day dur­
Below are closing quotations of middling cotton at Southern ing the week, to the extent of nine hundredths of an inch.
and other principal cotton markets for each day of the week. The thermometer has averaged 43, ranging from 28 to 57.
Mobile, Alabama.—Cotton picking is practically completed.
_
,
I
C L O S IN G Q U O T A T IO N S F O B M I D D L I N G C O T T O N O N —
Week e n d in g _____________ ______________________________________________ River conditions improving. It has rained on three days of
Dec. 9.
the week, the precipitation reaching one inch and three
Sat'day. Monday. Tuesday. Wed’day. Thurtd’ y Friday.
hundredths. The thermometer has ranged from 40 to 72,
C a lv e s t o n ...
7®8
77,0
7®s
7 U lt
70s
averaging 59.
7k
N ew O rlean s
7 » ,«
7k
70s
7k
Montgomery, Alabama,—Holders generally decline to sell
M ob ile . . . .
75,a
7k
7k
75,0
7k
7 5ia
7k
S a v a n n a h ...
......
7\
79,0
since recent decline. We have had rain on four davs of the
7k
7k
C h a rle sto n
73a
73e
771Q
7k
week, the rainfall reaching one inch and fifty five hun­
W ilm in g ton .
dredths. Average thermometer 56, highest 70 and lowest 36.
N o r f o l k ........
8
73a
7k
7»s
7«S
70a
9 OO
810
Selma, Alabama.—There has been rain on two days of the
B o s t o n .........
860
8 00
800
8-00
8-12
788
B a lt im o r e ...
8-00
8-00
7 88
7-88
week, the precipitation being fifty hundredths of an inch.
8-35
8-25
P b lla d e lp h ’a
8-85
8-25
8-25
8-35
The thermometer has averaged 53, the highest being 70 and
8
79^
A u g u s ta .......
7k
70s
7k
7*8
the lowest 36
. . . . 1 78s
M em p h is___
7=8
7k
7 1 lie
7%
St. L o o t s ___
7k
8k
8
7k
7k
Madison, Florida.—W e have had rain on two days dar­
H ou sto n . . .
7 9 ,6
7k
7k
7k
73e
ing the week, the rainfall being seventy-five hundredths of an
L ittle R ook..
. .. 1 7
7
7
7k
.........
inch. The thermometer has averaged 52, ranging from 34
The closing quotations to-day (Friday) at other important to 70.
Southern markets were as follows.
Smyrna, Georgia.—W e have had rain on three days of the
Atlanta............. 79tg Louisville........ 7 7
e Natohez............ 771# week, the precipitation being thirty-three hundredths of an
Columbus, G a.. 7 k
M ontgom ery..
7 k Raleigh............. 7 k
inch. The thermometer has averaged 48, the highest being
Columbus,Miss 6*8
N ash ville........ 7®s Shreveport___
7k
57 and the lowest 86
Savannah, Georgia.—Rain has fallen on two days of the
N ew Orleans Option M arket .—The highest, lowest and
closing quotations for leading options in the New Orleans week, the rainfall reaching forty hundredths of an inch.
cotton market the past week have been as follows.
Average thermometer 58, highest 71, lowest 43.
Augusta, Georgia.—There has been rain on three days dar­
Sat’day, M onday, Tuesday, W ed’day, Thursd’ y Friday,
ing the week, the precipitation being one inch and fiftyBee. 3.
Dec. 5.
Dec. 6 .
Dec. 7.
Dec. 8 .
Dec. 9.
seven hundredths. Thermometer has ranged from 40 to 65,
D bc ’ bek —
averaging 50.
R a n g e .. 7-76-34 7-34-54 7-37-57 7-40-54 7-70- 7-53—
70
Charleston, South Carolina.—There has been rain on five
41 7-53-55 7-70 -71 7-54 -56
Closing. 7-78-79 7-52-53 7-39—
days the past week, the rainfall being sixty-eight hundredths
J an ’ a r t Range
7-82—
41 7-37-60 7-40—
62 7-45-59 7*49--78 7 55- 80 of an inch. Tne thermometer has averaged 55, ranging from
Closing.. 7 8 4 -8 5 7-57-58 7-44-45 7-58-tO 7 7 5 -7 7 7-59--60 42 to 67.
Ma r c h —
Greenwood, South Carolina.—There has been rain on four
Range
8 0 0 -5 7 7-53-75 7-54--78 7-61-76 7 6 5 -9 3 7-71--97
74 7-00—
Cl08Hlg.. 8 0 1 - 0 2 7-73—
61 7-75-76 7-91—92 7-7 5 -7 6 days the past week, the rainfall being two inches and fiftyMa t six hundredths. Average thermometer 45, highest 51, low­
92 7-74—89 7-78—
89 7-68—
06 7-85-08
R ange.. 8-13-72 7-73—
Closing.. 8 1 4 -1 5 7-87--88 7-74—
75 7-88—
89 8-04-05 7-88-89 est 89.
The following statement we have also received by telegraph,
JULT—
00 7-81—
00 7-90-99 7-89-15 7-96-10 showing the height of the rivers at the points named, at
Range .. 8-25-75 7"89—
24 7-95-97 7-85-87 7-99-00 8-13—
15 7-98—
Closing.. 8'23—
00 8 A. M Dec. 9, 1904, and Dec. 11, 1903.
.
T one —
Easy.
Steady.
Spot....
Options. Irregular Steady.

Steady.

Steady.

Steady. Steady. Steady.
Steady. V’ y st’dy Easy.

W eather R eports by T elegraph .—Oar advices this
evening by telegraph indicate that the weather has continued
fairly favorable during the week. Rain has been quite
general, but as a rule the rainfall has been light or moderate.
Picking, where not already completed, has been interrupted
at some points, but the marketing of cotton has been quite
free.
Galveston, Texas.—W e have had rain on two days during
the week, the precipitation being thirty hundredths of an
inch. The thermometer has averaged 59, ranging from 42
to 76.
Corpus Christi, Texas,—Rain has fallen on three days dur­
ing the week, the rainfall reaching four hundredths of an
inch. The thermometer has ranged from 38 to 80. averag­
ing 59.
San Antonio, Texas.—We have had rain on two days of
the past week, the rainfall being thirty nine hundredths of
an inch. Average thermometer 60, highest 84, lowest 36,
Taylor , Texas. —Rain has fallen on one day of the week, to
the extent of forty-four hundredths of an inch, The ther
mometer ha3 averaged 60, the highest being 82 and tne low­
est 36.
Palestine, Texas.— There has been rain on one day of the
week, the precipitation beiDg twelve hundredths of an inch.
The thermomefer Las averaged 57, ranging from 84 to 80.
Fort Worth, Texas.—We have had rain on one day during
the week, the rainfall being ten hundredths of an inch. The
thermometer has ranged from 32 to 78, averaging 55.
New Orleans, Louisiana.—W e have had rain on one day of
the past week, the rainfall being forty-five hundredths of an
inch. The thermometer has averaged 58.
Columbus, Mississippi.—It has rained on three days of the
week, the rainfall being one inch and thirty eight hun­
dredths. Average thermometer 50, highest 68, lowest 32.
Leland, Mississippi.—Tnere has been rain during the week,
the rainfall being one inch and eighteen hundredths. The
thermometer has averaged 49, highest 70 and lowest 31.
Vicksburg, Mississippi,—It has rained on four days of the
week, The precipitation reached forty hundredths of an
inch. The thermometer has averaged 51, ranging from
89 to 78.
Helena, Arkansas.—Many are done with picking, but there
is considerable cotton still in the fields. There has been rain
on two days the past week, the rainfall being fifty-three
hundredths of an inch. Average thermometer 41, highest
64, lowest 34.
Little Rock, Arkansas.—Picking is nearing completion.
We have had rain on three days during the week, the rain­
fall reaching forty-three hundredths of an inch. The ther­
mometer has ranged from 83 to 66, averaging 48.
Memphis, Tennessee.—Picking was interfered with by rain
in the early part of the week; otherwise progressing well.
We have had rain on four days daring the week, the precipi­
tation being one inch and thirty-three hundredths. The ther­
mometer has averaged 48’4, the highest being 62*7 and the
lowest 32-8.

Dec. 9, ’ 04.

Dec. 11, ’03.

Feet.

Feet.

30
1-8
75
1-6
1-6

New Orleans.......
Memphis..........
Nashville............
Shreveport.........
Vicksburg..........

3-6
35
1-5
20
56

India Cotton M ovement from all P orts .—The receipts
of cotton at Bombay and the shipments from all India ports
for the week ending Deo. 8 and for the season from Sept. 1
to Dec. 8 for three years have been as follows.
1904.
Receipts at—
Week.

Since
Sept. 1.

69.000

Bombay.

308,000 52,000

Week.

Great
Britain.

Bombay—
1904.......
1903.......
1902.......
Oaloutta —
1904.......
1903.......
1902.......
Madras—
1904.......
1903.......
1902.......
All others—
1904.......
1903.......
1902 . . . .
Total all—
1904.......
1903.......
1902.......

Continent.

Since
Sept. 1.

Since
Sept. 1.

Week.

217.000 61.000

193.000

Since September 1.

For the Week.
Exports
from —

1902.

1903.

Total.

Great
Britain.

Continent.

Total.

3,000
2,000
6,000

3,000
2,000
6,000

2,000
3,0 0
2,000

17,000
41,000
45,0 lO

19,000
44 000
47,000

2,000
2,u00

2,000
2,000

1,000

5.000
7,000
10,000

5,000
8,000
10,000

3,0C0
1,000

3,000
1,000

2,COO

6,000
8,100
1,000

6,000
10,000
1,000

6,000
5,000
1,000

6,000
5,000
1,000

2.0C0
.........

33,000
29,000
30,000

33,000
31,000
30,000

14,000
10,000
7,000

14,000
10,000
7,000

2,000
8,000
2,000

61,000
85,000
86,000

63,000
93,000
88.000

A lexandria R eceipts and Shipments of Cotton.—
Through arrangements we made with Messrs. Choremi,
Benachi & Co., of Alexandria, we now receive a weekly
cable of the movements of cotton at Alexandria. Egypt.
The following are the receipts and shipments for the past
week and for the corresponding week of the previous
two years.
Alexandria, Egypt,
December 7.
Receipts (oantars*)—

This week..................
Since Sept. 1 ............

Exports (bales)—

To
To
To
To

1904.
2°4,000
2,776,333
This
Since
week. Sept. 1.

1903.
350,000
3,355,651
This
Since
week. Sept. 1.

1902.
305,000
3,5*9,725
This
Since
week. Sept. 1.

Liverpool............ 10,500 65,377 12,000 93,522 9,294 96,906
54,172
Manchester........ 8.750 47,762 5.000 54,714
Continent........ . 9.750 92.932 21,000 110,041 16,265 117,888
Amerloa............... 4,000 16,712 4.000 14,800 4,967 32,213

Total exports........ 33,000 242,783 42,000 273,077 30,526 301,178
* A cantar is 98 lbs

THE CHRONICLE

D e c . 10, 1904.]

2651

T o ta l b a le s „
Manchester Market .—Our report received by cable New Y obk —( C o n c l u d e d ) —
To Barcelona, per steamer Antonio Lopez, 718............. .
748
to-night from Manchester states that the market is steady
To Genoa, per steamers Koenigen Lulse, l,705...N apo)itan
for yarns and quiet for shirtings. Manufacturers are work­
Prince, 250___Prlnz Oskar, 318............................................. 2,273
To Naples, per steamers Koenigen Luise, 279_ Napolitan
_
ing at fair profit. W e give the prices for to-day below and
Prince, 150_ Prlnz Oskar, 1 9 . ..............................................
_
448
leave those for previous weeks of this and last year for
409
To Piraeus, per steamer Koenigen Luise, 409...................... .
comparison.
__________________
To Trieste, per steamer Giuila, 9 2 ....... .................................
92

1903.

1904.

8 >4 lbs. S h i r t 8 q lbs. Snirt- Oott'n
328 Cop. ing8y common Mid. 328 Cop. ingSy common
Hoist.
Twist.
to finest.
to finest.
Vplds

d.
Nov. 4 838
• 1 1 3ta
<
“ 18 8»is
“ 25 8 »i«
D eo 2 8 h e
“ 9 8*8

d.
® 9ie
®9H
® 9H
®9M
® 9 l8
®9

s. d.
6
6
6
6
5
4

s. d.

d.

5 44
0 ft 9 3
0 @9 3
5-4'.
5 34
0 ©9 3
0 ®9 3
5 0^
5 ®'8 5 ^ 4-77
4Uj 7 5n2 4 19

d.
d. 8.
8®8 ®9kj 5
8% #9&16 5
8% ®9&,k 5
8 13i8® 93e 5
5

d.

B &
. .

5 ®8
5 ®8
5 ®8
6 ®8
9 ®8

'd Q a R io
>&

l^a
1^
1L,
3
6

ft

O o t t 'n
M id .
T Jpld s

d
5-94
6-14

602
620

6-84
ft-

s

A gricultural, Departments Cotton R eport for Decem­
1.—The report on cotton issued by the Agricultural
Department on Dec. 5 is as follows :

ber

Preliminary returns to the Chief of the Bureau of Statistics of the
Department of Agriculture indieate a total production of cotton in
the United States in the year 1904-05 amounting to 12,162,700 bales.
R und bales have been included in this estimate and reduced to their
equivalent in square bales. The es imate does not include lintere.
The average weight of bales as reported from ports and interior
markets is unusually high. It will probably be somewhat reduced
before the close of the season, but from present Indications it is not
likely to fall below 500 pounds net. No closer estimate of average
weight oan be made at the present time.
The area picked, or to he picked, is estimated at 30,053,700 aores, a
reduction of 1,676,600 acies, or 5 3 per cent, from the acreage
estimated as planted.
The estimated production In bales, by States, is as follows :
Virginia............................
19,301 Louisiana........ ............... 917,900
North Carolina............. 609,000 Texas........ ...................... 2,992,300
South Carolina............... 1,099,700 Arkansas...... ................. 832,700
Georgia..... .......................1,764,900 Tennessee...................... 343,000
43,900
Florida..............................
77,700 Missouri ...................
Alabama..........................1,278,900 Oklahoma........................ 246,000
Mississippi.......................1,539,800 Indian Territory............. 398,100

It will be noticed that the report does not include Jiaters,
which, as is quite well understood, are the small particles of
staple secured from the seed at the oil mills. This by­
product, as it may be called, adds somewhere between one
and two per cent to the crop.
The effect of the report upon the cotton markets of the
country was quite decided. The indicated total production
was made public on the New York Exchange on Saturday at
l i A. M. and caused an immediate decline in all the options,
the close being at a loss of over 50 points from Friday, with
middling upland spots marked down 40 points, Monday
witnessed a further net decline of 29 to 86 points in options
and 50 points in spots.
Cotton Crop E stimates.—Estimates on the cotton crop of
1904-05, in andition to those heretofore published, have been
made by various Exchanges and individuals as follows:
Liverpool .—The average estimate of 169 members of the
Liverpool Cotton Exchange was 11,737,000.
The average crop estimate of the members of the Reform
Club of Liverpool is 11.906,000 bales.
New Orleans, La .—The average crop estimate of 109 mem­
bers of the Cotton Exchange is 11,513,396 bales.
Galveston, TV*.—The average estimate of the members of
the Cetton Exchange is 11,275,000 bales.
Memphis. —The average estimate of 133 members of the
Memphis Cotton Exchange placed the present cotton crop at
11,357,222 bales, the highest estimate being 12,090,500 bales
and the lowest 10,875.000 bales
Vicksburg, Misn, —The average crop estimate of 54 members
of the Cotton Exchange is 11,829,161 bales, the highest esti­
mate being 12,150,000 bales and the lowest 10,930,000 bales.
N ew Orleans Cotton Exchange A nnual E lection.—At
the annual election of the New Orleans Cotton Exchange
held on Monday, Dec. 5, the following ticket whs elected :
President, A. Brittin; Vice-President, M. E, DuQiesnav;
Treasurer, J. G. Dancan; directors, Maurice Stern, H. R
Laboodsse, F B, Hayne, R, T, Hardie, R N. G. 8mith, A C
Ahrens. L B. Steele. Norman Eastis, L. H. Fairchild, H. R.
Gould, J. F. Clark and Jules Mazerat.
New England Cotton Mill Situation .—Advices from
Fall River indicate that manufacturers have made better
progress in getting machinery into motion, the number of
looms in operation at this time being reported at 18,030.

To Venice, per steamer Giulia. 399..........................................
399
New Orleans T o Liverpool—Dec. 3—Str. Logician, 11,522___
Deo. 6 - Steamers Irishman, 24.597; Senator, 8,000.......... 44,119
To Belfast Deo. 6—Steamer Rathdn Head, 12,000............. 12,000
To Havre Deo. 5—Steamer St Jan, 2,894............................
2,894
To Bremen—Deo. 5—Steamer Monadnook. 11,310
Deo. 7
—Steamer Etonian, 6,900..................................................... 18,210
To R otterdam -D ee 9 Steamer Marte, 1,<'05.....................
1,005
4,500
To A ntw erp-D ec. 7 Steamer Etonian, 4,500.....................
To Copenhagen- Dec 6—Strs. St. Jan, 250; Texas, 1,300.. 1,550
To Lisbon Deo 6 - fehip Fereira, 3 00 ................... .................
800
T<>V*r*Cruz Dec 3 —
Steamer Norheim. 1 > 4 9 ...................
1,649
Galveston — Liverpool-D eo. 3—Steamers Danstan, 6,650;
To
Irak, 2 0 ,8 4 0 ___Dee. 6—Steamer William Cliff, 5,209___
Dec. 7—8teamer comedian, 12,613....................................... 4 5,312
To Belfast- Deo. i —Steamer CarrDan Head. 7,577............. 7,577
To Manchester - Dee. 6—Steamer Domingo de Larrinaga,
12.744 .......... ............... ............................................................ 12,744
To Hamburg Dec. 3—Steamer Aldersgate, 850..... .............
850
To Rotterdam Nov. 30—Steamer Breokfleld, 371.......
Dee. 7—Steamer Queen Wllhelmina, 100 ...........................
471
P ort A rthur —T o L iverpool-D eo. 2 Str. Dalmally, 6 ,896... 6,896
To Bremen—
Dee. 7 —Steamer Rosebank, 10 S o t ................... 10,301
Pensacola- T o Liverpool- Dec. 3—Steamer Gaditano, 5,455.. 5,455
To Havre Deo. 5—8t*amer Anglo Chilian, 7,433............. .
7,433
To Bremen—Dee. 9 - Steamer Indra, 12,250. ........................ 12,250
Mobile —To Havre—Dee. 5—8 teamer Inci keith, 7 . 7 5 7 .............
7,757
Savannah —To Manchester—Deo. 3 —
Str. Cast.leventry, 8,789.. 8,789
To Havre Dec. 7 —
oteamer Borneo, 3 ,036............................ 3,036
To Brem en-Deo. 2—Steamer Calliope, 11,527___Dae 6 Steamer Svealand, 6,534....D e c. 7—Steamer Cape Comino, 3,625__ Dee. 7 —Steamer Rabenfele, 12,518............. 34,204
To Hamburg—Dec. 7 - 8teamer Borneo, 3,119.....................
3,1H>
To Christiana-Deo. 7—Steamer Borneo. K'O . . . . . .............
100
To G oihenburg-D eo 6 —Steamer Svealand, 300........ . . . . .
300
To Reval Dec. 6—Steamer Svealand, 1,100___Deo. 7—
Steamer Cape Comino, 550................. ...................
....... 1,650
To Riga—D 'o. 6—steamer Svealand, 3 5 0 ... Deo. 7—Steamer
Cape Corniao, 250. ........................................ ........................
600
To Oporto—Deo 2 Steamer Calliope, 400.......Dee. 7 —
Steamer Cane Comino, 160—
...........................................
550
B runswick —To Liverpool—Dae. 9 —
Str. Qn enswood, 5,756 .. 5,756
W ii mington—To Bremen—
Deo. 7—Steamer Miramar, 7 ,625... 7,625
New port N ew s —T o Liverpool—Deo. 5—Steamer Rappanannook, 750.......... ..................................
...............................
750
Boston T o L iverpool-D ec. 2—Steamer Ivernia, 2.315___
Deo. 5 Steamer Michigan, 2, *76 — Deo. 6—Steamers
Bohemian, 4,287; Sylvania, 1,289........................................ 10,067
1,492
To Manchester Deo. 6 - Steamer Bostonian, 1 ,492...........
To Yarmouth—Deo. 3 - Steamer Boston 1 . ...........................
1
Baltimore —To L iverpool-D ee. 2 Sir. ULStermore, 2,7oO....... 2,700
Ph ila de lph ia - T o Liverpool—Deo. 2 8tr. Haveiford, 2,322.. 2,322
To Rotterdam—Nov. 12—8teamer Oauadia. 1 7. .................
117
SAN Francisco—To Jaoan—Deo. 3 Steamers Korea, 3 ,57 6... 3,576
Po r t l a n d , O r e .—T o Japan—Nov. 15—Str. Nloomedia, 1,439. 1,499
Total........................................................... ................................. 308,266

Cotton freights at New York the past week have been
as follows.
Mon.

Satur.

15
15
Liverpool............e.
Manchester........ e.
18
18
21*
21*
Havre.................. c.
20
20
Bremen............... e.
20
20
Hamburg............ e.
15
Antwerp............. e.
15
20
20
Ghent, v. Antw’p.e.
26
30
Reval, indirect., e.
30
Reval, via Canal.e.
28
Barcelona. Dee..e.
20
20
15
15
Genoa, Deo........ c.
20
Trieste................. c.
20
Japan (via 8nez).e. . . . . . .
Quotations are cents per 100 lbs.

Sues.

Wedn.es. Thurs

15
18
21*
20
20
15
20
30
30
20
15
20
........
* And

15
18
21
20
20
20
26
30
30
20
15
20

15
18
21
20
20
20
26
30
30
20
15
20
--5 per cent.

Fri.
15
18
21
20
20
20
26
80
30
20
15
20

L iverpool.— By cable from Liverpool we have the following
rtiatement of the week’s sales, stocks, &c., at that port.
Nov. 18
Sales of the week........ bales.
Of whioh exporters to o k ...
Of whioh speculators took.
Sales American........... ...........
Actual export..........................
Forwarded................................
Total stock—Estimated..........
Of whioh American—Est’d.
Total import of the week.......
Of which Amerioan.............
Amount afloat.........................
Of whioh Amerioan.............

Nov 25

Dee. 2

50 000
2,000

52 000

40 000
3,000

42,000
7,000
102,000
452,000
405,000
194 000
172,000
417,000
370,000

36 000
7,000
74 000
490.000
440 000
119 000
104,000
464 01)0
407 000

6.000
49 04/0
5 000
102 000
562,00(
508 000
180 000
155,000
468 000
451 000

1,500

1,000

1 .0 0 0

Dee. 9.
46,000
3.000
6.000
42,000
8 000
98 O O
O
699 000
645 OoO
143 000
1 1 9 000
507 000
458 000

Jute Butts, Bagging , E tc. —Tne demand for bagging dar­
ing the past week nas continued very dull, with prices un­
changed at 6 % for \ % lbs. and 6 ^ e for 2 lbs standard
The tone of the Liverpool market for spots and futures
grades. Jute outts also dull at
for paper quality
aach day of the week ending Dec. 9 and the daily closing
and 2 @ 2 14'c. for bagging quality.
prices of spot cotton, have been as follows.
N ew Y ork Cotton E xchange .—In addition to the Christ­
mas and New Year’s holidays (Dec. 26 and Jan. 2) the New
Spot.
Sat’day. Monday. Tuesday. Wed'day. Thursd’y Friday.
York Cotton Exchange will be olosed on the preceding
Saturdays—Dee. 24 and Dec. 81.
Fair
Market, 1 business Weak and Unsettled Steadier. Moderate Moderate;
demand.
demand
Shipping New s .—As shown on a previous page, the 12:30 P. M. ] d oin g. irregular.
exports of cotton from the United States the past week have Mid. Upl’de.
4 22
4-24
4 '2 5
4Y7
4 19
4T8
reached 398,266 bales. The shipments in detail, as made up
6,000
10.000
8,000
7 00 0
7 00 0
8,000
Sales...... .
f;om mail and telegraphio returns, are as follows:
Total bales.
Nbw Y ork —To Liverpool, per steamers Armenian, 5 738 up­
land and 318 Sea Island....Cedrlo, 5,142 upland and 92
Sea Island...............................................
11,290
To Mat Chester, per steamer Strabo, 670 upland and i l l
Sea Island...................................................................................
781
To Dunkirk, per steamer Adra, 1 0 0 ............................ ..........
100
To Marseilles, per steamer Italia, 100....................................
100
To Hamburg, per steamer Waldereee, 100.............................
10J

Spec. < e x p .
fe

2,000

500

1,0 0 0

3,0 0 0

Futures.
1
D em orV d
Market / Steady at 80(j>35 pts. Irregular. Steady at Very st’ dy Quiet, at
3(04 pts.
2 pts.
7 pts.
1 pt.
op e n e d . ]
decline, j decline

deollne.

advance.

advance.

t ’dy Steady at Steady at
q u iet ai
Market, ( Br’ly spts. 3(1(340 pts. 4@7 pts. Steady at 233 pts. Steady at
836
3®4 pts.
4@6 pts.
4 P. M. ] decline, 1 deollne. deollne. advanoe
deollne. advanoe.

2052

T H E CHRONICLE.

The prices o f fu tu res at L iv e rp o o l fo r each day are g iv en
below . Prices are on the basis o f U plands, G o o d O rdinary
clause, unless oth erw ise stated.
S a t.
Dec. 3.

Itto u ,
TTnea.
Dec . 5. j Dec. 6 .

X h u ra.
Dec. 8 .

W ed.
Dec. 7.

F r i,
Dec. 9

I 2 i(i 1 1 2 % 4 12i*| 4 1 2 i*| 4 1 2 % 4 1 2 % 4
r. m . P. M. P. M. P. M. P. M. P, M. P. M.jP. M. P. M. P. M . P. M. P. M
d.
i 65
4 66
4 71
4 74
4 77
4 79
4 81
4 82
4 84
4 79

d.
4 59
4 59
4 64
4 67
4 70
4 72
4 74
4 75
4 76
4 75

d.
4 17
4 17
4 23
4 27
4 SO
4 32
4 84
4 35
4 36
4 37

4
4
4
4
4
4
4
4
4
4

d. ' d. \ d.
19 4 0914 12
19 4 09 4 12
24 4 15 4 18
27 4 19 4 22
31 4 28 4 25
33 4 2614 28
36 4 29 4 31
38 4 31 4 33
40 4 34 4 35
39 4 33 4 S5

*3

D ecem ber. .
D e c .- ia n ___
Jan .-F eb —
F eb .-M ob . ..
M oh.-April.
A pril-M ay
M a y -J u n e ...
June- inly.
J u ly -A u g
A u g .-S e p t. .
Sept -O ct..
O o t,-N o v ...

4 14 1
4 14 4
4 2014
4 24 4
4 27 4
4 30 4
4 33 4
4 36 4
4 37 4
4 37;4

15
15
21
25
29
32
35
37
39
89

4
4
4
4
4
4
4
4
4
4

d.
16
16
22
27
31
34
36
39
41
40

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

d.
4 12 4
1 12 4
4 18 4
4 28 4
4 27 4
4 30 4
4 33 4
4 35 4
4 37 4
4 37 4

a. d
11 4 16
11 4 16
1 8 a 22
2314 27
27 4 31
30 4 34
33 4 37
36 4 39
3.8 4 42
38:4 42

.... ....

[V o l . LX X II,

D A ILY CLOSING PRICKS OF NO. 2 M IX ED OATS IN C H I C A G O .
Mon.
Hal.
T u es.
Wed.
Thun.
Fri.

Deo. delivery In elev.......
May delivery In elev.......
July delivery In elev.......

29
31
30%

DAILY CLOSING FRIGES OF W HEAT FUTURES I S N E W t T O B E -

SatN o. 2 red w in ter, f . o. b . ..
D ee. d elivery in e l e v . . . .
M a y d elivery to e l e v . . . . .
J u ly d elivery in e l e v . . . . .

3 2 0 14

117%
112 %,
103%

DAILY CLOSING PRICES OF

Sat.
D ee. daliv. in e l e v .
109%
M ay dellv. in e l e v . . . . . . . . 111%
J u ly daisy, tm e l e v . . . ... . .. 9 9 %

Mon.
122%
119%
118
105%

Tues.

Wed. Thurs.
118%
116%
116%
115%
112% 113%
104%
103%
WHEAT FUTURES IH C H I ® A S ©
Mon.
Tues.
Wed. Thurs.
111 % 11078 108% 103%
113%
113%
110 % 111%
100% 100
99%
98%

121 %
118%
114%
105

F ri
118%
117%
11278
103%
hri.
108%

111
99

Indian co rn fu tu res have been m od era tely a ctiv e, bu t at
gra d u a lly y ield in g prices. In creasin g supplies o f n e w -o ro p
corn are co m in g to m arket. T he receipts fo r the w eek have
been fa irly fu ll, b e in g in excess o f expectation s, T h e w eather
con d ition s in the c o r n belt h ave con tin u ed fa v o ra b le fo r the
m ark etin g and c u r in g o f the n ew cro p . E xp orters have
con tin u ed
good
buyers
of
c o rn
as
prices
have
y ield ed, and this dem and has served to h old
the
d eclin in g tendency to prices in ch eck to som e extent.
O n T hursday advices w ere receiv ed fr o m E urope saying
that R ussia had appropriated 20,000,000 ra b ies w ith w h ich to
b u y foreig n corn fo r her peasants, and this had a fa vora b le
in flu ence upon values. T o-d a y the m ark et w as steadier on
pred iction s o f less fa v ora b le w eather con ditions for the corn
crop . T he spot m arket was fa irly active. The sales fo r e x
p ort w ere 150,000 bushels.
DAILY CLOSING PRICES OF'N O. 2 MIXED CORN IN N E W

Hat.

C a sh corn f. o. b . . . . . . . .
Deo. delivery In elev...
May delivery In e le v ... ..

51%

M on.

Nom.
56
51

Tues.

54%
55%
50%

Wed.

5t%
54%
50%

Y O R K .

Thurs.

55
55
50%

Fri.
Nom.
55%
50%

DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN C H I O A O O .

Hat.

Dec. delivery In e le v --..May delivery In e le v .....
July delivery in elev.......

4778
45%
45%

Mon

46%
4 4 7g

45

Tues.

48
44%
44%

Wed.

45%
44%
44%

Thurs.

46
44%
44%

Fri.

47%
44%
45%

Oats fo r fu tu re delivery at the W estern m ark et have been
quiet, O nly fra ction a l changes have o ccu rred in prices but
these have been tow ard s a low er basis. T he m ovem en t o f
th e crop has been fa irly fu ll and as the trade dem an d has
been lim ited , it is ex p ected th at stocks fo r the cu rren t week
w ill increase slig h tly . L o ca lly the spot m ark et has been
qu iet and sligh tly easier. T he close w as steadier.
DAILY CLOSING PRICES OF OATS IN N E W Y O R K .
8 at,
Mon. Tv.es. Wed.
Thun.

No. 2 mixed in elev ___ _
No. 2 white in d e v . . . . . .

Nom.
Nona.

Nona,
Nom.

Nona. Nom.
Nom. Nom.

Horn,
Nom.

23%
30%
30%

28%
30%
30%

23%
30%
30%

F o llo w in g are the closin g q u otations:
FIODR.
F in e .. . . . . . . _____ _

Patent, winter....... ?5 75 ® e
Olty mills, patent. 6 25 ®6
Rye flour, superfine 4 25 ®4
Buckwheat flour.. 1 90 @2
Corn meal—
WeBtem, eto....... 2 90 ®3
Brandywine____ 3 00 ®3

N om inal.

Superfine............... $3 90 ® 4 00
Extra, No. 2 . . . . . . . 4 00 ® 4 10
Extra, No. 1.......... 4 25 ®4 70
C le a r s ........... ................

4 30

® 4 65

Straights..................

5 25

® 5 65

Patent, spring____ 5 50

® 6 75

00
80
90
25
00
10

GRAIN.

Wheat, per bush—
N. D ul.,N o. 1______
N. Dul., No. 2 . . .......
Red winter, No. 2 ..
Hard winter, No. 2.
Oats—Mixed, p, bush.
White.....................
No. 2 m ix e d ............
No. 2 w h i t e ..........

o.
c.
I .o .b .l22ig
f.o.b.116%
f.o .b .11838
f.o.b.1173s
34%®35%
36 ®39%
Nominal.
Nominal,

B R S A D S T U F F S .

F r i d a y , D ec, 9,1904.
Business in th e loca l m arket fo r w h eat flour has con tin u ed
q u iet and the tone has been unsettled. Som a m ills have
sh ow n a desire to m ark et supplies and have been w illin g to
m ake som e con cession s in prices to attract purchasers.
B uyers, h ow ev er, as a general ra le, seem to have th eir w an ts
fa irly w ell covered and were slo w in p la cin g orders. D u rin g
the latter p art o f the w eek advices w ere receiv ed fr o m M in­
neapolis rep ortin g ru m ors o f large sales o f flour. R y e flour
and bu ck w h eat flour have bsen quiet. C o m m eal has been
q u iet at u n ch an ged prices.
S peculation in w h eat fo r fu tu re delivery has been on a
m oderate scale only, and the tone o f the m a rk et has been
unsettled. E arly in the w eek there w as a fa ir advance in
prices. C rop new s from A rg en tin a was u n fa vora b le. P riv a te
ad vices w ere receiv ed rep ortin g dam age to the cro p by rust
and excessive rain fall.
I a this co u n tr y the situation
w as
im p roved
east
of
the
M ississippi R iv e r, b u t
in
the 'la r g e
w in ter-w heat
belt
in
the
S outh­
w est
con d ition s
w ere
n ot
fa v ora b le, due to
con ­
tinu ed d rv w eather. Statistical d evelopm en ts also had a
bullish influence, the w o rld ’s s tic k s sh ow in g a fa irly large
decrease fo r the w eek , D u rin g the latter part o f th e week
there w as an easier tu rn to values. P rom in en t interests that
w ere identified w ith the b u ll side o f the m arket becam e
fa irly free sellers, E uropean advices w ere tam e and the
c r o p reports and w eather con ditions in A rgen tin a becam e
m ore fa v ora b le. T he ' ‘ C in cin n ati P rice C u rren t” says that
th e w h eat situation in the cou n try is p ra ctica lly u n ch a n g ed ,
n ot y et representing a certa in ty o f serious degree o f per­
m an en t in ju ry . T o-d a y the m ark et w as easier under im ­
proved crop reports fro m A rgentin a. T he sp ot m a rk et w as
firm ,

28%
30%
30i*

28%
30%
30%

i Corn, per bush—
c.
c.
Western m ixed_____ 52%®57
No. 2 m ixed............... f, o.b.Nom
No. 2 yellow .............. f. o.b.Nom
No. 2 w hite.............. f. o.b.Nom
i Rye, per bush—
j W estern___ . . . . . . . . 84 ®89
State and J e r se y ....
Nominal.
j Barley—W est............ 52 ®63
J F e e d in g ...............
41 ® 4 6

Exports of Grain and Float from F a e ifle Ports.—The
exports o f g ra in and flou r fr o m P a cific p orts fo r the w eek
-riding D eo. 8, as received b v telegraph , have been as fo llo w s:
From San F ra n cisco to U n ited K in g d o m , 105,000 bbls. flou r,
30,000 bushels w h e a t an d 175,000 bushels barley, and to
various Sou th P a cific ports, 0,65b bbls. flour an d 700 bushels
w heat.
C om bin in g these figures w ith th ose fo r p reviou s w eek s, w e
nave th e fo llo w in g , w h ich co v e rs th e e x p orts to fo re ig n
countries fo r the p eriod sin ce J u ly 1, 1904, co m p a rison b e in g
m ade w ith th e corresp on d in g p e rio d o f 1903.
Exports
fr o m —

F lou r,
bbls.

C orn ,
busk.

Wheat,
bush.

38,800
8,351

Oats,
bush.

B a rley ,
bush.

1,191
76,992
8

1,765,513
24,050
219,606

T ota l,...1.301,380 2,407,722 47,151
Pot. 1903.1,753,966 2,984,467 19,747

78,191
291,350

2,009,169
6,562,220

San Fran.
Puget 8’ d.
Portland..

514,451
515,010
271,919

1,148,411
704,551
564,760

R y e,
bush.

422
346
768
707

T h e m o v e m e n t o f breadstuffs t o m a r k e t a s in d ic a t e d in the
sta te m e n ts b e l o w is p r e p a r e d b y u s f r o m fig u r e s c o lle c te d
by th e N e w Y o r k P ro d u ce E xch a n g e. T h e receip ts a t
W estern lak e an d riv e r p o rts fo r the w eek en d in g D ec. 3
and sin ce A u g . 1, fo r each o f th e last th ree years h ave been :
Receipts at—

Flour.

W heat,

Corn.

Oats.

Barley.

By*.

BbJe.i.96 Jbs Bush.QOlb* Sush.SG lbs Bush,32 ib, Bush. 48 Lbs 3 u .e e its.
208,184
537,912 2,624,800
875,450
C hicago........
584,649
85,650
87,050
103,676
117,040
85,800
Milwaukee .,
546,250
38,400
....
1,448,703
D u lu th ....... ■ 71.800
231,481
627,839
58,287
3,271,850
129,600
377,400
Minneapolis.
339 180
80,840
42,000
242,000
31,900
T o le d o ..........
1,800
268,387
59 412
8,200
80 954
D e tro it........
15,400
350,290
.... ,
Cleveland ...
14,923
136 323
5,075
276,635
285,833
80.000
St, L o u t* . . . .
201,955
80,305
17,118
11,200
960,000
5,000
P e o ria . . . . . .
13,200
74,200
59 400
342,900
Kansas City.
429 300
•88 8 JO
T ot. wk. 1904
Same w k .’03.
Same w t. ’02.
Since Aug. 1.
1904.......... .
1.903 . . . . . . . . .
1 9 0 3 ...-------

470,287
625,520
381830

6,437,635
8,237,517
7,656,407

5,022,686
2,852,101
3,496,631

2,27 4.233
3,001,808
2,974.281

2,241,843
2,039,988
1,718,831

194,145
800,991
311.306

7,715,280 118,700,373 55,417,201 79,097,740 37,014,795 4,111 912
8,618 468 119,253.692 63,723,OSS 07,710,499 30,878.545 3,690,400
8.358,5 LI 152.766,718 40.431,804 79,858,471 23,871,010 3,544,884

T h e receipts o f flour a n d g ra in a t th e se a b o a rd p o rts fo r
the w eek en d ed D e c . 8. 1904. f o llo w :
J jsrlty,
gsrsi,
O ats,
ffiour,
My,,
Receipts at—
bush.
bush
bbls
»«•*.
twills.
•* lh .
New Y ork. . . . . . . ■
0
111,700
605,900 15,098
124,504
801,200
847,800
Boston*.
38,800
90,580
181,199
195,310
134,708
2,675
M on trea l.......
7,471
607,855
85,283
03,027
348,637
56,915
54,290
9,463
Philadelphia. . . .
16,000
1,«66
376,212
27, U5
Baltimore . . . . .
45,811
37,095
81,802
15,128
Richmond.
7,066
4,200
22,124
■ rr-M t
U
New Orleans*..
10,829
50,600
17,000
...........
Newport News
82,4«5
Galveston
65,800
8,000
2,250
M obile
1,571
0,652
8t. J an. N B ..

2,653

25,000

Total week .
323,513 1,308.047 1,063,047
931,6?8
879,385
61,133
W eek 1903.................
028,718 2,850,088 1,0.6,258 1,355,i 12
838,623
59,233
* Receipt# do n o t lnolude grain passing th rou g h N ew O rleans f o r fo reig n
oorts o n th rou g h bill# o f lading.

3a n .

T o ta l r e c e i p t s a t p o r ts f r o m
a llo w s f o r fo u r y e a r s:
Receipts o f 1904.

1903.
20,259,849

F lo u r ........................b b ls . 15.816.S05
W heat.......... ............ bush. 88,991,429

Com .......................
•
•
Oats............................. "
Barley...... ................. "
Rye.........................

T o ta l g r a in ____

“

1 to D e c . 8 c o m p are as

95.938.207

47,877,022
44,890.514
7,282,756

95,726,335
49,630,327
4,261,217

139,955,274

219,426,611

“ 1,118,654

8,835,460

1902.
20,487,804
138,307,488

1901
31,283,157
151,673,184

20,079,278 103.781,880
48,918.384
(8,783,925
3,695.234
0,041,805
5,253,973

208,164,895

3,632,839

333,898,133

T h e e x p o r t# f r o m th e s e v e r a l s e a b o a r d p o r t s f o r th e w eek
ending D e c . 3 ,1 9 0 4 , a re s h o w n in t h e a n n e x e d s t a t e m e n t :
W hea t,
M x p o rtt f r o n t - b ush .
4 « w Y o r k ...„
47,716
s o it o n ............. ini 441

C am ,
buoh.
8,010

Baltim ore.......................

214,235
940

taw 0 r lean....................
la lv a sto n .......................

2,945
77.D2

Fri.

M obile...... ......................
S t.J oh n , N ,B . 25,000

Nom,
Nom.

T ota l w a a k .. 234,167
Same tim e ’ 08.1,678,711

Flour.
bbls.
49.587
4,23 3
17,080
20,995
20,191
1,70 i

Oats.
bush.
29.404
120

B y*,
bush

2,103

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

6,552

5,780
1,671
2.652

2,250

809,300
941,471

135.780
418,778

33,877
43,695

877,365

Barley,

Pen*
T '-k
SU
8,775

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

15

i
. . . r - •n

18,037

tiji

377,365
19,473

,M(..
8,790
4,313

26 5 3

TH E CHRONICLE.

D e c . 10, 1901. |

T
tao destination of these exports for the week and since ever, w h ich continue in very small supply.

Ju ly 1,1904, is as below:

—------- m o w .------ m — -W heat.-------------- —■
M xp crit fo r
Week aim # J uly W eek Since July
meek end Mines Dec. 9
1,1904,
Dec. 8.
1 ,1 904 .
J u ly 1 to—
bole.
bbls
buen.
bush.
g m tod EinsfiOfM 06,004 1,442,159 217,157
5,781,878
C o n tin e n t....... *.
14,757 508,841
17,000
543.817
A O. A m erica.
15,091 27H.290
3,300
W est In d ie * ... . .
27,272 468839
........
........
BF.IV.Am. C o lo ’ S
2,607
36,211
...........
©tteeF aonntrie®
1 0 ,4 4 9
1 0 1 ,0 1 9
............
52,414
T 0 t a l . . . . ............
T o ta l 1003-08....

135.780 2,947.559 231,157
418,778 7,184,728 1,073,711

r— ---- Corn,— —
W eek fHntts Jul%
Dec. 3.
i, seC4,
bueb
bush
120,000 6,847,816
171,427 5,040 042
2,'1
65
98,087
15,768
411,255
.......
81,902
............
33 870

0,370,939
38,090,134

309,800 11,520,171
941,471 27,504,507

The v is ib le su p p ly o f g r a in , com prisin g th e stock s in
granary at th * p rin cipal p o in ts o f accu m u lation at lake and
issb oard ports, Dec. 3, 1904, w as as fo llo w s :
O sm ,
t
In store at—
1,002,000
New fo r k ......... .
Do
a a o s i ...
03,000
B oston. ... .............
41 O O
O
Philadelphia.
999,000
B a ltim o r e ....,. . . . . . .
Wew U r i e a a * . . ^ . . ^
SaiT eston .............
198 000
664 000
M ontreal............
14 ( 00
T o ro n to .............. ..
B uaalo......................... 3,401,000
o 0
afloat..........
234,001
T oled o. . . . . . .
Do
a flo a t..,* ...
798,000
D e t r o i t ................... .
O lle a g o ... . . . . . . . . . . . . 1,083.000
Do
a flo a t ...* ..
074,000
M ilw aokas.......... .
Do
a flo a t ......
F ort W illia m ............. 2.872,000
1,539.000
3,858.000
............... .
Do
a f lo a t .....
M in n e a p o lis .......... 11.283,000
S t .L o u is ..................... 3,308,000
Do
a f lo a t . . . .
Kansas C ity ................ 1,816.000
2,000
P e o r ia ........* * .....
262 000
Indianapolis...........
On M ississippi R iv e r
2,819,000
On L a k e s ...........
...
O a sa n a i a n d r i v e r .
Total
Total
Total
Total
Total

Deo.
Nov.
Dec.
Dec.
Dec.

3.1904... 8 0 .8 0 0 ,0 0 0
20.1004 .35.696,000
4.1903. 32,539,000
6, 1902, 45.940,000
7,1901...65.240.000

THE

DRY

07,000
9,000
44,000
177,000
443 000
37,000
02,000
2,000
44,000

Q .S U .
tu s h
1 ,5 8 3 ,0 0 0
1 0 2 ,0 0 0
4 9 3 .0 0 0
1 0 8 ,'H j O
1 7 2 .0 0 0

■:i j 4 4 4 ,0 0 0

1 5 1 ,0 0 0 *

3 0 0 ,0 0 0

104 000

178000
2 .0 0 0
5 7 9 ,0 0 0

1 ,9 2 9 ,0 0 0

8 ,5 9 4 ,0 0 0

165 000

9 3 8 .0 C 0

' 1 1 .0 0 0

4 ,0 0 0

87,000

1 0 2 .0 0 0

3 9 ,0 0 0

6 5 ,0 0 0

298,000

6 ,1 5 1 0 0 0

3 9 4 ,0 0 0

1 3 ,0 0 0

1 0 ,coo

0 5 4 ,0 0 0

2 4 ,0 0 0

2 9 7 ,0 0 0

2 ,7 6 8 .0 0 0

iii.o o o

0 7 9 ,6 6 6

9,000
16,000

5 .8 4 9 .0 0 0
1 .1 1 3 .0 0 0

’

7 0 ,0 0 0

9 2 9 ,0 0 0
2 8 000

1 2 ,0 0 0

84,000
197,000
96 000

4 4 5 .0 0 0
1 .5 1 6 ,0 0 0
2 2 4 .0 0 0

9 .C 0 0

1,335,000

1 ,0 6 0 ,0 0 0

1 2 7 1 ,0 0 0

1 ,3 8 1 ,0 0 0

3,181,000
1,852,000
6,684.000
3,895,000
10,930.000

2 4 .4 9 7 .0 0 0
2 4 .2 3 2 .0 0 0
8 ,1 1 6 .0 0 0
0 ,7 5 6 0 0 0
0 ,4 1 0 .0 0 0

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

0 ,6 3 0 ,0 0 0
0 ,0 3 8 ,0 0 0
5 .8 3 3 .0 0
3 .6 7 4 . 0 0 0
2 .8 0 9 .0 0 0

GOODS

1 ,0

3 ,0 0 0

jo

TR AD E,

N ew Y o r k , F riday , P , M , D ecem ber 9, 1904.
In fa ce o f an extrem ely severe decline in the price o f raw
co tton , as a result o f the recent G overnm ent estim ate o f a re­
cord -break in g crop , the cotton goods m arket has m aintained
a strength that has astonished alike both buyers and sellers.
A ctu a l changes in quotations from those o f a week ago are
p ractically lim ited to a reduction in the prices o f bleached
goods and these had been decided upon before the break in
cotton occu rred. Business during the w eek has naturally
been o f very lim ited volum e, b u t that transactions have taken
p la ce at unchanged quotatiens from those o f a w eek ago is
significant o f the strength o f th e statistical position o f the
market. The fa ct o f the m atter is that buyers have allow ed
their stocks to run so lo w that they are obliged to continue
purchasing, and if sellers w ill not reduce their prices, then
they m ust pay those that are asked. Sellers on the other
hand find their ow n supplies so depleted b y the curtailm ent
o f m an u factu re and the heavy export dem and o f the past
sum m er that they see no reason to reduce their demands
F urther than this m any o f the m ills are w ell sold ahead and
ca n ' afford to aw ait fu rth er developm ents w ith ou t placing
their m anufactures at the present tim e on the bargain cou n ­
ter. Should cotton continue to go low er, or even rem ain at
the present level, it w ould be natural to see further redu ction s
before lon g , bu t fo r the m om ent both buyers and sellers are
actin g con servatively, w ith the latter in sligh tly the stronger
position. W o o le n goods have again been active and firm.
Domestic Cotton G oods.— T h e e x p o rts o f c o tt o n goods
fro m th is p ort f o r th e w eek en d in g Deo. 5 w e re 5,448
pack ages, v a lu ed at $279,015, th e ir d e s tin a tio n b e in g t o the
poin ts specified in th e ta b le s b e lo w :

The dem and fo r
heavy b row n drills and sheetings has not been large, but
prices have been w ell m aintained, and on certain lines w h ich
are particularly scarce quotations have been very firm . T h e
export dem and has fo r the m om ent entirely ceased, w h ich is
regarded as natural in v iew o f the fa ct that export buyers
have placed very heavy orders fo r goods ahead at prices
w hich m ay seem high in the near future. L ig h t-w eigh t
goods have been in m oderate request at unchanged prices.
C olored g ood s have held very steady and som e business has
been transacted at recen t figures, particularly in ticks and
denims. Other colored goods have been slow . There has
been a very m oderate demand for Canton flannels and cotton
blankets, but prices remain unchanged. K id-finished ca m ­
brics have been steady, w ithout m uch business, but there are
indications o f a revival o f interest in these before lon g, V ery
little im provem ent has been noted in the dem aud fo r either
staple or fa n cy prints as a result o f the recent redu ction s.
Staple and fine grades o f gingham s have also m oved slow ly.
Print cloths have been m uch m ore active, especially w ide
goods o f odd con stru ction, and prices remain unchanged.
W oolen G ood s .— F urther lines o f h eavy-w eight m e n ’s
wear goods have been opened during the w eek, and althou gh
com plaints are still heard that m anufacturers are losing a
good opportunity b y not standing ou t for a b igger advance,
yet the goods so fa r show n can in no w ay be regarded as a
criterion o f the m arket. It w ill n ot be u ntil the all-w ool or
worsted goods are show n that the m arket can properly b e
gauged. The scarcity o f w o o l is causing m anufacturers o f
cheap goods, carpets, etc., at the present tim e to search fo r
substitutes o f all kinds and experim ents are bein g m ade w ith
shoddy and other such m aterials fo r the purpose o f su p p ly­
ing that class o f trade th at insists upon a cheap m aterial.
F urther lines o f lig h t-w eig h t goods have been w ith d ra w n
from the m arket during the w eek and others have been kept
on sale, but at prices w h ich are regarded as p roh ibitive. U n i­
form goods w h ich sell equally w ell all the year round are, o f
coarse, still on offer. Dress goods have been fa irly a ctiv e
duriDg the week, but little or nothing has been sh ow n fo r
the fall season. M anufacturers are n ot w illin g to take ord ers
for current delivery or fo r spring except at an advance, and
the indications are that they have the m arket pretty w e ll in
their ow n hands.
F oreign D r y G o ods .—I m ported w oolen and w orsted dress
goods have been qu iet during the w eek, the rush o f bu sin ess
now being over. On the w h ole, it has been an entirely sa tis­
factory season and im porters have cleaned up th eir s to ck s
fairly w ell. Silks are som ew hat low er, but rib b on s are
steady and unchanged. Linens are qu iet but firm an d b u r ­
laps remain firm and m oderately active.

importations and Warehouse W ithdraw als o f Dry Goods
T h e im p o rta tio n s a n d w a r e h o u se w ith d r a w a ls o f dry g ood s
a t this p o r t fo r th e w e e k e n d in g Dec. 8 , 1904, and sin ce
Jan uary 1 ,1904, a n d f o r th e c o r r e s p o n d in g p e r io d s o f last
year are as f o l l o w s :
3*
ig
*
H
g
g

03

P!
*
B
«.
8
■

C

1904.
to

D eo. 5.

Great Britain...........................
Other European.....................
China.........................................
In d ia ........................................
Arabia........................................
A fric a ............... .......................
West Indies..............................
Mexico.......................................
Central Am erica....................
South Am erica.......................
Other Countries.....................
Total......................... ....

1903.

Week. Since J an. 1. Week. Since Jan. 1
123
18
201
32
709
75
184
3,685
421
5,448

1,492
824
82,818
7,050
19,310
9,321
20,089
2,371
13,697
54,552
19,794
231,224

I

3
1
450
7
209
13
197
555
383
1,818

1,610
1,181
115,597
13,401
39,378
9,080
25,449
2,793
11,415
56,777
9,761
286,442

The value o f these N ew Y o rk exports sin ce Jan. 1 has been
$13,811,834 in 1904, against $14,195,230 in 1903.
A s had been generally expected for som e tim e, the p r o m i­
nent handlers o f bleached goods announced a reduction d u r­
ing the week of from }£c. to J^c., but fro m the fa ct that the
action had been anticipated, its effect upon the rest o f the
m arket was very small. It was fo llo w e d b y very little in ­
crease in a ctiv ity , as the w hole trade prefers fo r the m om ent
to con tract for no m ore goods than are absolutely necessary.
T here has been sem e fair business in low -grade goods, h o w ­

®
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.»(i54

THE CHRONICLE

M aturity.
Amount.
Name.
Rate.
Price.
$4,000 10410
2600.. Jefferson Co., O h io ... 6
1913
99,603 100
2223. Jersey C ity,N .J. (M b.) 4
2166. Jersey Sliore (Pa )8ch.
119141934
19,700 100-67
D ie t ........................... 4
1924
2,600 109 60
2109.. Kennedy Heights, O . 5
MUNICIPAL BOND SA LES IN NOVEMBER.
2223.. Kent, Ohio .............. 5
2,370 102 75
11909-1924
2,700 ICO
2485. . La Belle. M o .............. 5
The aggregate of municipal bonds put out during Novem­ 2166.. Lake City (la .) Boh.
4,300 100
D ie t ........................... 5
ber was $82,622,009. This compares with $10,191,617 in Oc­
36,-53 100-502
2224.. Lake wood, O. (8 le.).. 5
tober 1904 and $14,846,875 in November 1903. Sales of 2601.. Lancaster, O h io ......... 5
2,600 104-10
1908 1909
40.000 102-569
.. LanreDB, 8
(2 le.)..
Canadian loans to amount of $1,283,088 and temporary loans 210 9..Lawrence, N C. .......... 4 ft 11924-1944
10,000 10103
1909-1918
2601
Y
10,000 1102 27
in the sum of $28,958,374 were also recorded in the C h r o n i ­ 260 1 .. Lewis Co,, Wash..... 4i* ♦1914-1924
1934
25,000 101
2656.. Lexington, MIbb....... 6
c l e during the month, but these of course are not included 2601.. Liberty Center, Ohio, ft
1905-1914
9,500 102-737
6,043
2601.. L<ma, Ohio.....................
in our total.
11 '500 100-325
2666.. Livingston Co., N. Y . 4*9 1906-1907
1907-1913
2,000 103-375
That the figures reach suoh exceptional proportions is due 2224 London, Ohio.............. 5
32,341 102-365
1905 1909
2601. .Lucas Co.. Ohio.......... 5
to the disposals made by the cities of New York and San 2601.. Ludlow, K y .............. 4
38,000 100
1924
8,000
1924
98015
Francisoo. New York City, for the first time since last May, 2801.. Lynob, Neb.. ........... 6
5,000 10185
1905-1914
2224.. Lyons. Ohio.............. 5
was in the market with an istue of $25,000,000
stock. 248ft..Mabank (Texas) Soh.
8,000 100
D ls t ................
4
The sale was on November 23 aid attracted no less than 160 2601 ..Malden, Maes. (2......... 3 ^
1934
30,000 102 26
Is.).
8,000 ICO 25
1905-1912
*
bids, aggregating $158,269,640. The average price received 2601.. Malden, Mass........... 31
8,000 100
1905-1907
2601.. Malden, Mass.......... 3>«
was 102*41 and the basis of sale was about 3 40?. This city 2224.. Mansfield, Ohio....... 5
7.000 100
1905-1907
also placed with its ^sinking funds $648,500 8? stock. The 2166.. Mansfield (Ohio) Sob. 4*a 1915-1919
15,000 106-866
D ie t ...........................
11,500 100-53
San Francisco disposal amounted to $2,099,800 (being part of 248ft..Mapleton, M inn.(2 la.) ft
1905-1914
11,000 102-293
2109.. Marlon, O h io ........... 41
*
$4,673,600 3^? bonds offered), and the award was made to a 222 1 .. Marion, Ob o ............ 4
14,600 100-503
1906-1915
54,000 108-279
2485.. Marlon, Ohio............ 5
syndicate of local banks at par.
5,300 101467
19051909
2601.. Marlon, Ohio............ 5
6,500 102-13
The number of municipalities emitting bonds and the num­ 2601 ..M arlon, O hio............... 8
1905 1909
3,900 100 256
ber of separate issues made during Nov. 1904 were 151 2601. Marlon, Ohio............... ... 4 6 1905 1914
14,382 101-74
2488.. Marshall Oo., M in n
and 284, respectively. This contrasts with 196 and 285 for 2657.. Martins Fe rry, O. (2
3,485 1T100
Issues).................... . 5
Oct. 1904 and with 142 and 210 for Nov. 1903.
1914-1944
15,000 100
2166.. Mexla, T e x ............... 5
22,400 101 116
2601 ..M
Is.).
For comparative purposes we add the following table, 2657.. iam i Co., O. (10 In d . 5 4 1906-1920
30,000 102-583
Michigan City,
1906-1915
5,000 100-30
showing the aggregates for November and the eleven months 2166.. Middletown, O h io -- 4
9,052 104-187
1905 1914
2485.. MlUersbnrg. Ohio —
5
for a series of years.
33,400 103-024
1914-1924
2657.. Mt. Oarmel, Pa. (2 is.) 4
1932
100,000 105-798
2486.. New Britain, O o n n ... 4
F or the
M onth o f
For the
Month o f
30,280 104-15
Novem ber. E leven Mos. 2667.. Newburg, O. (3 1s.)... 5
Novem ber.
E leven Mos. !
2486.. Newburgh Soh. Diet.
$120,128,631
$241,164,409 I 1897................... $6,868,775
1904................... $82,622,009
96,831,773
1905-1913
6,750 10259
138,789,263 I 1898................... 34,913,894
1903................... 14.846.875
No. 5. N. Y ............... 5
105,476.829
136 896,772 I 1895................... 6.624,901
1902................... 13,728,4 93
12,000 102-30
1926
2657.. New Madrid, Mo..... 5
108.689,851
111,092,842 ! 1 894................... 4,649,680
1901................... 6,989.144
5,000
60,114,709 24a6..N ew port, K y .....................
123,672,211 1893................... 7.300,770
1900 ................... 9,966,636
1905-1909
1501000 10115
1.......... 4
80,626,266 2225.. Newport,
113,131.760 1892................... 5,176,012
1899................... 8,790,489
2601..Newport Beach 8oh.
95,779,460
1 898................... 7,721,284
5,000 100
1906 1910
Dlst , Cal ................. 5
25.000,000 102-41
1954
In the following table we give a list of November loans to 2486.. New Y o rk C ity (3 Is.). 3>a
648,50011100
2657.. New Y
City (31s.).
the amount of $32,622,009 issued by 151 ’municipalities. In 2657.. 00.la, o rk .................. 5 3
1924
45,000
F la
1905-1914
20,000 100
the case of each loan reference is made to the page of the 2602.. 0 .a h a , N e b ............ 4
1905-1914
40,COO
2602.. 0.taw a, K a n ............ 5
C h r o n i c l e where an account of the sale is given.
11911-1931
200.000 100
2602.. 0.eD8boro, K y ....... 4
45,000 100
2225.. 0 .f o rd . N. C ............ 5
N ovem ber B ond S a l e s .
1909-1921
12,500 101
2i6 6 Painted P«st, N. Y . . . 4
35,000 100
Am ount.
U908-1923
M aturity.
P rite.
Page.
Name.
R ate,
2225.. Palatka, F i a ............ 5
1924-1929
6,115 103-697
1924
$70,000
216 4 ..Aberdeen, Miss.......... 5
2602.. PanldlDg Ohio............ 41
*
58,050 102-20
5,000 105-40
1906 1915
2222..A kron, Ohio (2 Is .)_
_ 5
2t86..Piq.ua, Ohio................. 5
ll.o 00 100-863
2599.. Alliance, Ohio (3 Is .).. 4
2225.. Pittsburgh (Pa.). L in ­
50.000 103-541
1918-1927
11909-1924
16,000
2222..Am ite Co., Miss.......... 5
coln Sub-Seh. D ie t.. 4
1905-1921
85,000 100-08
1909-1924
20,000 100-961
2222..Anne A ru n de lC o.,M d 4
2486.. Pittsfield, Mass....... 3i«
5,500 107-50
259 9 ..Ashland, O h io ............ 5
1,000 104
1906-1910
2 2 2 5 .. Pleasant Ridge, Ohio. 5
1907-1915
20,800 100-79
2699.. Ashland. O h io ............ 5
2,100 103-81
1906-1911
2496.. Polk Co., M in n......... 5 ^
103
12,000 106 60
1924
265 5 ..Baker C ity. Ore.......... 5
11905 1914
94,911 S 102
2225. Portland, O re.............. 6
(
1924
65,000 100 123
2 5 9 9 ..Bayonne, N. J ............. 4
1924
160,000 105-81
2599.. Belief on talne, Ohio .. 5
7,500 100
1910
2166.. Portsmouth, N. H -- 4
20,000 100
1934
2484.. Black Diamond Soh.
2166.. Port Vue, Pa............. 41
®
5,000 102-22
20,000 101-25
1905-1921
Diet., O a l............... . 5
2110.. Prlncevllle, 111......... 5
7,500 103-33
H919-1984
2165..Boonton. N J . ___ . . . . 4
16,000 101-04
2487.. Quincy Soh. Die., Cal. 5
40,000 103-75
1906-1921
2110.. Randolph Co., In d _ 4
124,00011100
2599.. Boston, Mass. (3 I s ).. 3i*
1924&1934
2 6 5 5 .. Brown wood (Texas)
2603.. Red wood City, Oal. (2
100,COO 100
1905-1944
1924-1944
6,5 09 101
Soh. D i e t ................. 5
Issues)........................ 4 ^
12,000
1934
15,000 107-01
2600..Bucyrn8. O h to ............ 5
1906-1920
2 4«7..R idley Park, P a ......... 4
7.000 100
U909-1944
100,000 1T100
2 2 2 2 ..Buffalo, N. Y ................
1905 1924
265 8 .. Rusk (Te x ) Soh. Diet. 5
42,000 100-471
2600.. Cal dwell Co , T e x ....... 5
1909
14,000 100
2167.. 5 .n d u sky,O . (t Is ) . . . 4
1,080 100-694
1905-1906
2484. . Calhoun Oo., Io w a _ 6
48,000 108 25
2225.. 5.ndusky Oo., Ohio .. 5
1905 1914
2658.. 5 .n Francisco, Cal. (4
2 1 6 5 .. Canandaigue, N Y . (2
2,099,800 100
6,293 100
1909
Issues)........................ 5
Issues).....................
3^
30,000 105 223
1905-1924
10,000 100
2222..Cascade Oo., Mont___ 4
U914-1924
2167.. 5 .n Pedro, C a l......... 5
19,700 ICO
1905-1923
2165..Oelina, Ohio .............. 4^3
1912-1954
42,o00 106-51
2487.. 5 .arcy, A rk .............. 6
20,000 100050
U924-1934
2600..Champaign, Co.. O ___ 5
13,180 100 69
2603. Shenandoah, V a ........ 5
5.000
2222..Cheviot, Ohio (4 1s.).. 5
14,350 111-67
2603.. 50.ris, N. Dak......... 7
1929
117,000 1101-402
20,000 103-25
2165..0hillleoihe, O h io ........ 4 ifl
2226.. 50. Omaha, Neb.(2 is.) 4 ^ U909-1924
2165..Christian Co., K y . . . . . 4
2487.. 5 0 .th Pasadena 8ch.
U909-1934
70.000 100-714
5,000 105 042
1924-1928
5,000
2166.-Clarion, Iow a. ______ 4.1-2
Diet., Oal . ....... .
5
30.000 100
2 6 5 5 ..Clarksville, T e x ......... 4
2167.. 5 .e e t Soh. Dlst. No.
2,500 100
1914
12, Idaho................... 5
260O..Clebnrne, T e x ............ 5
t!9 i4 -1 9 l4
25,000 102-40
3.000
1906-1908
58,60011100
2226.. Tim ber T w p ., I l l ...... 5
2656. . Columbus. O. (9 1s.).. 4&41g ..................
100,000 101-761
1914
2655..Cortland. N. Y ............. 4
1924
19,500 105-30
2167. Toledo, Ohio................ 4
55,000 102-98
1905 1914
26oO..Cuero, T e x ....... ........... 5
H914-1944
1,900 100
2168 .Topeka, K a n ... ......... 5
5,000 100
H909-1924
50,000 100
2 600..Dallas, T e x .................. 4
119191944
2 6 5 8 .. Tuoioa, Miss.......... 6
5,000 1100-50
1914
22,000
2484..Danville. I l l .................. 4i«
2658.. Tw o Harbors, M in n ,.. 5
1910-1914
306,000 109-68
1934
2222. . Dayton, Ohio
...... 5
2227.. Waoo, T e x ................ 5
1906 1915
25,000 107-76
59,000 109 68
1934
2227.. w aoo, Te x . . . . . . ____ 5
2 2 2 2 .. Deadwood, Sell. Dlst.,
3,000 100
1905-1910
8 D ak ......................... ft
1914 1924
35,000 104
22 27..WaldeD, N. Y ............ 4
1914
18,000 101-85
2223.. Delaware, Ohio ....... 5
2227.. Ware, M a ss................. 4
1905-1919
5,100 105-50
38,000
1934
2669.. Washington, G a ...... 5
265 6 .. Delevan (Texas) Sell.
7,500 100
1905
2659.. Webster Groves, M o .. 6
D ie t ............................. 4
1905-1914
6.000 100
6,721 104-04
45,000 106-468
227..W ellington. O. (4 Is.). 5
2 6 0 0 ..Dublin, G a .................... 6
1934
4,000 101-80
2485..East St. L o u is, 111........ 5
43,100 100
2488.. W ellst«n. Ohio...............
1906-1909
2,300 101-09
2168.. West Gate. Io w a ......... 6
2 6 0 0 ..Emporia. V a ................ 5
1934
30,000 100
90,000 101-777
1934
2656 E veleth, M in n ............. 5
1906-1923
50,000 100
2227 .West Orange, N. J ----- 4
2 2 2 3 .. Fitchburg, Mass......... Sis
1905-1914
13,000 100138
2488..W hite Plains, N. Y . (2
18.OC0 103-717
1905-1914
Issues)........................ 4
2223. Fitchburg, Maes......... 3ia
51.000 100-275
50,000 1102-153
1905-1909
2 2 2 8 .. W ood Co , O h io....... 5
2223. .Ford City, P a .............. 4
1905-1922
35,000
50,000 102 075
1905-1909
22, <00 100-76
2228.. Wood Oo., Ohio....... 5
2165..Foreetport, N. Y ......... 4
19091930
20,000 102-535
1934
2604.. Worcester, Maes..... 3 1
*
1914 1924
2 1 6 5 .. Frankfort, K y ......... 5
30 000 100-50
7.000 1104-07
1920
2223..Freeborn Co., M in n ... 5
1906-1914
2 16 8 . . W inthrop. M in n ......... 5
21,200 1105
100,OCO 100-27
1907
2165..Falda. M m n ............... 6
2168 Yoi kers, N. Y ............ 4
1906 1912
7,000 103 928
21,000 100-40
1908-1910
2165..Glltner, N e b ............... 6
U909-1924
2168.. Yonkers. N Y ......... 4
9,000 101111
2 6 0 4 .. Y ou n gstow n , Ohio (11
2 4 8 5 . .Goshen. N. Y . ............... 4
10,000 101
1909 1918
17,850 10301
Issues) ...................... 5
2 '6 5 .. Greers 8oh D ls t ,8. C. 5
1924
10,000 100
2223..Groton (8. Dak ) Soh.
D l s t ........................... 5
1905-1924
10,000
To ta l bond sales for Nov. 1904 (151 m u ­
2 4 8 6 .. G rov e City. O h io ...... 6
1907
1,000 103
nicipalities, covering 234 separate issu e s)..§$32,622,009
2656.. Hector (Minn.) School
D l - t ..........................
6,000
• Average of dates of m a tu rity, t 8nb)eot to oall In and after the
8 .0 0 0 100
2 2 2 3 ..H on d o (T ex.) Soh. Die. 5
11909-1944
earlier year and mature in the later year. §N ot Including $2?,958,374:
2 1 6 6 ..H ou ston , T e x .............. 5
1944
100,Oi 0 106
of temporary loans reported and which do not belong In the list.
60,000 10b-75
2 2 2 3 .. H ouston Co., A l a ....... 5
1925
H Taken by sinking fund as an Investment, t A n d other considerations.
2485..Iow a C ity, Io w a ........ 414
1913-1916
16,000 100

stats atjc

C ity B ep ^ ptivtent.

Pan*.

|V()L. LX.YIX

THE CHRONICLE.

D e c . 10, 1904.]

2655

A llegheny County, Pa.— Bonds Authorized,—The Connty
In addition to the above we have recorded d u r iD g the
month of November the following sales by municipalities out Commissioners have decided to issue $500,000*4$ bonds for
the completion of the jail extension.
side the United States.
A lto (T exas) Independent School D istrict.—Bonds Reg­
istered.—An issue of $7,000 5$ 20 40-year (optional) schoolB o n d s So l d b t C a n a d ia n M u n ic ip a l it ie s .
Maturity
Page.
Name.
Bate.
1905-1924
2655.. Arthur, O nt................ 4
22 23 ..
Edmonton,A-lta (2 is.) 41* 1905-1944
22 24 ..
Madoc, Ont........... 4
2225..
0.ford , Out......... 4
1923-1938
26 58 ..
5.dney. N. S......... 4
1905-1924
2167. .Tara, O a t.................... 4
2658..
Winnipeg, Man.... 4

Amount.
$3,032
150,000
9,000
35,000
330,000
6,056
760,000

Price.
94'88
94-489
98*904
92
94-99

house bonds, dated Nov. 1, 1904, was registered by the State
Comptroller on Nov. 28
Arthur, Out.—Debenture Sale.—O j. Nov. 26 the $3,082 14
4% local-improvement debentures described in Y. 79, p. 2222,
were awarded to W m . C. Brent o f Toronto for $2,877. F ol­
lowing are the bids :
W m . C. Brent, T o ro n to ........... $2,877 00 I G. A . Stimson & Co.. Toronto.$2,845 00
Dom inion Securities Corp’n . .. 2,852 00 |H . O’H ara & Co., T o ro n to ....... 2,800 86

Total.............. ..........................................................$1,283,088
REVISED TOTALS FOR PREVIOUS MONTHS.

B aker l ity, Ore.—Bond Sale.—On Nov. 21 the $12,000 5£
20-year gold city-hall-completion bonds described in Y . 79,
The following items, included in our totals for previous p. 2164, were awarded to Albert Kleybolte & Co., Cincinnati,
months, should be eliminated from the same, as the sales at 106'60.
B ig Springs (T ex a s) Independent School D istrict.—
have not been carried to completion.
We give the page
number of the issue of our paper in which the reason for the Bonds Registered.—On Nov. 30 the State Comptroller regis­
tered an issue of $2,500 6| 10 20-year (optional) school-house
failure to consummate the sale may be found.
bonds dated Oot. 1, 1904.
Page.
Name o f Municipality.
Amount.
B rownwood (T exas) School D istrict.—Bond Sale.—The
2165.. Clarion, Iowa (September list)............................................$15,000
26 56 ..
Cumberland Co., N. J. (September list) ...................... 27,000 sale of the $6,500 5% 20-40-year (optional) school bonds to
2 6 56 .. Eveleth. Minn. (June list)................................... ............ . 50,000 Trowbridge & Niver Co. of Chicago at 101, mention of which
2656. Lorain, Ohio (August list).................................................... 14,000 was made in V. 79, p. 2107, has been consummated,
2166.. Port Vue, Pa. (September list)............................................ 20,< 00
Bnford, Ga.— Bond Offering —Proposals will be received
2 4 8 7 .. Ridley Park, Pa. (Ootober list)............................................
8,000
until 7 p . M,, D<c, 19, by W. W . Wilson, Mayor, for $20,000
W e have also learned of the following additional sales for 5 | coupon water, light and school-house bonds. D inom ina­
tion, $1,000. Date, when issued. Interest annually on Jan. 1
the month of October.
at the Hanover National Bank, New Y ork City. Maturity,
A D D ITION AL OCTOBER BOND SALES.
$1,000 yearly. This place has no debt at present. Assessed
A m ou nt. P rice.
M a tu rity.
P a g e.
Name.
Rate.
valuation, $400,000.
$6,000
97
2222..Boone Oo.. Ind............ 6
5,500 101-818
11914-1924
21 65 ..Groton, S. Dak............ 5
C arrollton, Miss.— Bond Sale.—Oa Dec. 1 this town sold
63,500 100
1923&1924
2166..Kansas City, Kan.......
to the Bank of Carrollton at par $5,000 5$ water works bonds.
12,000 100 833
1912-1930
2166.. N oTth Charleroi, Pa.. ft
These bonds are part o f an issue o f $10,000 offered without
21 66 ..Penn Yan (N. Y.) Soh.
35,000 103-56
success on Sept. 13. As stated in V. 79, d. 1978, $5,000 of
1905-1939
Diet.......... ................. 4
98-66
7,600
1914
2486..Re<1fleld, 8 Dak......... 5
the bonds were awarded on Oot. 18 to the Bank of Carroll­
22 26 ..Tbbf River F a l l s
ton, and the entire issue has now therefore been placed with
6,800 flOl-47
1919
(Minn.)Scb.D. No.18 5
that institution.
Total additional sales for Ootober...................... $136,300
Champaign Connty, O hio.— Correction.— The bond sale
These additional issues, after deducting the issues referred published last week under the caption of Champaign County,
to above, w ill make the total sales (not including temporary 111., should have been headed Champaign County, Ohio.
Chester Connty, S. C.— Bond Sale. —Oa D -c. 5 the $75,000
loans) for October, 1904, $10,191,617.
i%% coupon refunding bonds described in V. 79, p, 642,were
awarded to W hite Bros., o f Chester, at 104'26. Bids were
also received from W . J Hayes & Sons, Cleveland; Kane &
Co., Minneapolis; W eil, Roth & Co., Cincinnati; Seasongood
& Mayer, Cincinnati; John Nuveen & Co., Chicago; Rudolph
An index to all the Dews matter appearing in this Depart Kleybolte & Co., Cincinnati; the Exchange Bank o f Chester
ment for the period from July 2, 1904, to Oct. 8, 1904, in­ and the Commercial Bank of Chester.
Clark Connty, Ohio.— Notes Renewed.—The County Com­
clusive. was published in the Chronicle of Oct. 15, 1904,
missioners have renewed outstanding notes to the amount of
pages 1664, 1665, 1666 and 1667.
$76,097 96 issued to cover deficiency in the general fund.
These notes are all held by local banks and carry 6< interest.
t
They will mature Feb. 1, 1905, and we are advised bonds
Allegheny County, Pa.—Bond Call.—The Sinking Fund will probably be i?sned at that time to retire the notes.
Clarkson, Neb.—Bond Offering,— Proposals will be re­
Commissioners call for payment Jan. 1, 1905, at the offioe of
the County Comptroller, coupon compromise bonds Nos. ceived until 8 p . M , Dec. 15, by V . J. Chlebonn, Village
770, 774, 777, 778, 780, 781, 785, 787, 788, 789 and 790; also Chairman, for $5,000 5£ coupon water-works bonds. Matur­
registered compromise bonds Nos. 654, 655 and 656. Bonds ity o f bonds, Nov. 1, 1924, subject to call after Nov. 1,
1909.
are all dated Jan. 1, 1863.
C larksville, Texas.—Bond Sale,—The $30,000 4g w ater­
Galveston, Texas,— Bonds Canceled,—Upon recommenda­
tion of Commissioner of Finance and Revenue I. H. Kemp- works bonds described in V . 79, p. 648, have been sold at par,
ner the following bonds, aggregating $935,000 held in the $22,500 to the Red River National Bank of Clarksville and
sinkicg fund as an investment, have been ordered canceled : $7,500 to the R -d River Connty 8 cbool Fnnd.
Clinton, N.* T.— Bond Litigation.—Suit has been instituted
Manuscript bond N o. 2010, $5,000, 1881 bonds; m anuscript bond N o. 2009,
$674,000. i>8l bonds; m anuscript bond No. 2 03, $2,uoO, 1881 bonds—*68l,0u0; against the Village Trustees to prevent the issuance o f the
coupon bond N o <383, *1,< Oo. T otal, $682,000.
$7,000 electric light bonds authorized at the election held
W ater-w orks—M anuscript b o n d s: S-2012, $62,000; S 2018, $28,000. T otal,
Sept. 26, 1904. A temporary restraining order has been
$96,000.
Street Im provem ent and City Hall Manuscript Bonds. 1891—No. 20f5, $ 1 0 - granted. The injunction, of course, prevented the sale o f
COo; No. 2011, $110.000—$120,OOJ; fou r coupon bonds. Nos. 762, 763, 779 and 78 j ,
these bonds on . Deo. 7, the date on which bids were to be
$1,01)0 each, *4,"00. Total. $124,000.
1896— M anuscript bond No. 2014, $9,000.
opened.
1897M anuscript bonds : No. 2015, $1,000; No. 2016, $2,000; N o. 2017. $1,000;
Clinton, S. C.— Bond p eerin g.—Proposals will be received
N o. 2018. $2 ,) "0; coupon bond No. 192, *1.000. Total. $7,000.
1890—Manuscript bonds : Part o f No. 2007 fo r *68,000. $6,000; part o f N o. 2008 until Dec. 20 by J. A . Bailey, Chairman, for $25,000 43^£
fo r $2",000, $2,. 00 .
Denomination to suit purchaser.
W ater, Street and City H a ll-C o u p o n bonds : Nos. 65 and from 612 to 620, In­ water and light bonds.
clusive, fo r *1,000 each—total. $10,000.
Date, Jan. 1, 1905, Interest, annually in New Y ork City.
Mr, Kempner states that the gross debt of the city after Maturity, 40 years Bonded debt at present $15,000. As­
the destruction of the bonds above mentioned is $2,937,000 sessed valuation, 1904, $447,599.
and the cash on hand in the various sinking funds $16,000,
Colchester South Tow nship (P . O. H arrow ), Essex
leaviDg as net debt $2,921,000,
Conn to, Ont.— Debenture Sale.—Oa D ec. 3 the $11,255 40 5%
Multnomah County (P. O. Portland), Ore.—Warrant drainage debentures, described in V. 79, p. 2600, were
Call.—John M. Lewis, County Treasurer, has called for pay­ awarded to H. O’Hara & Co., Toronto, for $360'53 premium
ment all Class “ 36” and “ 37” warrants drawn on the gen­ and accrued interest. Following are the bids:

Index.

3ond Calls and Redemptions.

Prem ium . I
Prem ium .
eral fund up to and including May 31, 1904.
& Co , T o
T
................
60
Stephens County, Texas.— Bonds Redeemei.— This connty H . O’H ara Sec. Corp’ro n to.......... $860 53 |W m .. C. B rent, & o ro n tooron to. $186 60
Dom inion
n, T oron to. 246 60 G A Stimson
C o.. T
140
on Nov. 28 redeemed $6,000 bridge bonds held in the S-.ate A, Jarvis & Co.. T o ro n to ............ 207 60 |Brouse, M itchell & C o................. 06 60
Permanent School Fund as an investment.
Columbus, O h io.—Bond Sale.—The Trustees of the SinkTexas.— Warrant Call.— The State Treasurer on Nov. 29 ink Fund have purchased at par and interest the follow ing
called for payment all unpaid registered warrants on the gen­ b on d s:
eral revenue lund up to No. 9378, the amount so called being $1,000 4)4* Fourth Street assessm ent bonds. Date, Sept. 1, 1904. M aturity,
Sept i. 191 optional Sept. 1, lOufl.
17,
$40,411,
2,0C0 4 )4* Broad Street assessment bonds. Date, Sept. 1, 1904. M aturity, Sept.

Bond Proposals and Negotiations
w eek have been as fo llo w s :

this

I, 1907. optional Sept. 1, l->06.
3.000 4% Norwich A venu e assessment bonds. Date, Oct. 31, 1904. M aturity,
Sept. 1. 1916, optional Sept. 1, 19 '6.
4.000 4* Grant A venue assessment bonds. Date. Sept. 1, 1904. M aturity,
Sept. I, 191", optional Sept. 1, 1905.
4,6C0 4* Stanley A venue assessm ent bonds. Date, 8ept. 1, 1914. M aturity,
Sept. l. 19i6, optional Sept. 1, I9t5.
2.000 4* levee bonds. Date, Oct. 26, 1908. M aturity, Sept. 1, 1933, optional
Sept. ), 1913
20.000 4* street repair bonds. Date, Sept. 1. 1904. M aturity, Sept. 1,191 4.
20.000 4% reservoir bonds. Date, Feb. 27, 19J4. M aturity, April 1, 1934, o p ­
tional April 1, 1914
2.000 4)v% "city 's proportion No. 2” bonds. Date, .N ov. 1, 1901. M aturity,
March 1, 1916

Allegheny (Pa.), Eleventh Ward School District.—Bond
Offering.— Proposals will be received until 7:30 p . m ., Die. 12,
by HeDry H Phillips, Secretary, McClure Avenue, Alle­
gheny, for tbe $100,000
30-year coupon bonds authorized
at the election held Nov. 8, 1904, Interest, semi-annual,
Cortland, N. Y.—Bond Sale.—Oa Nov. 26 an issue of $19,free of tax.
500
Central School bonds was awarded to N. W . Halsey &

TH E CHRONICLE.
Co., N ew Y ork City, at 105*30

Securities are dated Dec. 1

1904.

Intertst, semi-annual. Maturity, Dec. 1, 1924.
C ovin gton , Ky.— Bond Offering.— Proposals w ill be re­

ceived until 7 p, M , Dec. 20, by John J. Craig, C ity C lerk,
for $2,782 68 5$ 1-10-year (serial) L etitia Street im provem ent
bonds. Securities are dated Jan. 1, 1905, and the interest
w ill be payable annually in C ovington at the city depository.
C ranston, K. 1.— Bond Sale.— On Dec. 7 the $50,000 4 i 40year Jgold school-building bonds described in V. 79, p. 2600,
were awarded to Fareon, Leach & Co., N ew York C ity, at
104-298 and Interest. F oliow in g are the bids :
Farnon. Loach A C o.. N ew Y o r k .104-293 I K ou ntze B ros., New Y o r k .......... 103-138
W J H ayes & Hons, C lev elan d . 103‘75 1 K. C. S tanw ood & C o., B o sto n .. .103-00
T ro w b rid g e A N iver Co., C h ic ..108 07 I B iodget, v lerrltt ACO., B o s t o n . 10204
N . W . H arris A C o.. New Y ork. .103-301 | B en ja m in F ish er. ........................ 101 25

C rook sion , M in n . —Bond Offering .— Proposals will be re
ceived until 8 p . m ,, Dec. 13, by W. H. G raver, C ity Clerk,
fo r $30,000 6^ coupon paviDg bonds. Denom inations, $100
and $500. Date, Dec. 15, 1904. Interest annually in Crookston. Maturity, $3,000 yearly. A uth ority fo r issue, Cnapter
235, Law s o f 1895. Certified check for 5£, payable to H R.
R obertson , City Treasurer, required.
C um berland C ounty, N. J .—Bonds Refused .— The $27,000
43^2 State road bonds awarded last September to N. W . H al­
sey & Co. o f N ew Y ork City have been refused by that fiim ,
they contending that the bonds are in excess o f the estimated
cost o f the road. N egotiations are now pending w ith tw o
parties for the disposal o f these bonds, but as yet no sale has
been consummated.
D ayton, O hio.— Bonds Proposed .— It is stated that an issue
o f $200,000 bridge bonds is being considered,
Deievan (N. Y .) School District.—R oa d Sale.— This dis­
trict some weeks ago sold an issue o f $0,000 4g school bonds
to the Citizens’ Bank o f A rcade at par. D enom ination, $600.
Date, Oct. 1, 1904. Interest annually on Oct. 1. M aturity,
$600 yearly.
Denton, Tex.—B onds Voted.— This place by a vote o f 238
to 22 on N ov. 30 authorized the issuance o f $62,500 w ater
w ork s bonds.
Detroit, Mich.— Bond Offering.—Proposals w ill be received
u ntil 11 a . m ., Dec. 20, by F . A . Blades, City C om ptroller, for
$190,000 33^ l coupon public-school and $90,000 3 ^ £ coupon
public-sew er bonds. Denom ination, $1,000. Date, Jan. 16,
1905. Interest sem i-annually at the office o f the City Treas
urer or at the current official bank in N ew Y o rk C ity or in
D etroit. M aturity, Jan. 16, 1935, Separate hids m ust be
made for each issue and either m oney or a certifi-d ch eck fo r
2% o f bonds bid foa, payable to the order o f the city o f Detroit, required— checks to be draw n ou a national bank in
th e U nited States or on a State bank in D etroit. C oupon
bonds may be exchanged fo r registered securities at any
tim e. Bonds are exem pt from city taxation.

East Hartford Fire District, Conn.—Bonds Being Offered.
— Francis R . C ooley o f H artford Is offering fo r sale $ 120,000
4# fu n din g bonds of this district. These bonds have not been
purchased ou trigh t by Mr. C ooley, but are being offered by
him fo r the district. They are part o f an issue o f $135,000,
o f w hich $15,000 have been taken by the sinking fu n d as an
investm ent. D enom ination, $1,000. Date, June 1, 1908. In
terest, semi-annual. M aturity, June 1, 1933, su b ject to call
after June 1, 1923.
East Lyme, Conn — Bond Sale.—On Dec, 5 $26,200 H re­
fu n din g and $8,800 4$ funding bonds were aw arded to W J.
H ayes & Sons, Boston, at 102-125 and interest. F ollow in g
are the bids :
W . J. H a y es A 8 ons, B o s t o n ... .102-125 I N. W . H a rris A C o., B o s t o n ....... 100-21
E . C. S ta n w ood A Co., B oston . .100-60 |

[V O L . L X ilX .

Greensboro, G a.— B o n d O ffe r in g . — Proposals w ill be re ­
ceived until 12 M ., Deo. 20, by Jas. H. M cW horter, Clerk, for
$5,000 5% electric-light bonds. A uthority, vote o f 90 to 19 at
election held N ov. 9. Denom ination, $500. Interest Bemiannually in G reensboro. M aturity, 1915. Present debt,
$22,000. Assessed valuation 1904, $374,509.
G rove City, P a .—Bonds Voted.—A t a special election held
recently the issuance o f $ 12,000 water bonds was authorized
by a vote of 354 to 44.
Harrison (N . J . ) School D is tric t.— B o n d S a l e .— The $45,000 eohool bonds described in V. 79, p. 2485, were awarded
by the Board of Education on Dec. 6 to R. M. Grant & Co,
of New York City, the price paid, according to the Newark
“ News,” being 100*25 for 4 per cents.
Hector ( Mi nn) School D is tr ic t.—B o n d S a l e — This dis­
trict will sell to tne State o f Minnesota the $6,000 refunding
bonds m entioned in V . 79, p. 2108. F u ll details o f issue not
yet determined.
Houston, T e x .—Bonds R e g is t e r e d .— The $100,000 5 S 40<
year school, sewer, street paving and fire station bonds,
awarded several weeks ago to W . R . T odd & Co. o f C incin­
nati (see V . 79, p. 2165), were registered by the State C om p­
troller on Dec. 1. Bonds are dated Oet. 1, 1904.
Irvington, S . J . — B o n d 8 a le . —A ccord in g to the N ew ark
“ N ew s,” an issue o f $36,000 bonds was awarded on Dae. 6 to
H, K, Stokes at 101*25,

Jefferson Connty (P. O. Beaumont), Tex.— B o n d Sale.—
On Dec. 1 the $125,000 5* 20-40 year (optional) road bonds
described in V. 79, p. 2485, were awarded to W . A . M yrick,
of Beaumont, at 106.
K ie l, Wis. — B o n a S a l e .— On Dec. 5 the $22,000 5% water
bonds described in V . 79, p. 2485, were awarded to E, H .
Roliins & Sms, Boston, at 107*209. Following are the bids :
H. H . R o llin s A S on s, C h ic.... $23,688 00 |T ro w b rid g e A N iverC o..C h ic.$22,709 00
N .W . H a rris A C o., C n ic a g o .. 23,440 00 S herm an A C o ........................... 22 625 00
Denison, P rior A C o ., C le v e I J. M. H olm es, C h ica g o ........... 22,650 00
land and B o s to n ... .............. 23,388 20 |Joh n N u v een A Co.. C h ica go, 22,602 60
Spitzer A C o.. T o le d o .............. 2 3 ,ISO 00 C. H. Coffin, C h i c a g o ............ 22.441 00
State B an k o f K ie l................... 23.100 00 I A lb e rt C. C ase, New Y o r k ___ 22 325 G
O
Mason, Lewis A C o .,C h ic____ 23,100 O 4 A . K ea n , C h ica g o
U
---- 22.022 00
R K ley bolte & Co., C in e ln ... 22.915 00 W . J . H a yes A S ons, C l e v e ... 22,017 00
M acD onald ,M cC oy A C o.,C h i. 22,841 G |
O

L akew ood, O hio .—B ona Election,—Dec. 13 has been fixed
as the date on w hich the question o f issuing the $35,C O fireO
department bonds mentioned in the C hronicle last w eek
w ill be subm itted to a vote of the people.
L ancaster, O hio .—Bond Sale.—On D ec 5 the $700 5 1 cityhall-repair bood described in V. 79, p. 2224, was awarded to
the H ocking Valley N ational Bank at 104*714 and interest.
F ollow in g are the bids :
H o ck in g V a lle y Nat. B a n k .........$733 00 I F a rm e rs’ A C itiz e n ’s B an k .L a n H . B. P eters, L a n ca s te r................ 731 25 1 ca s te r...............................................$732 60

L ancaster C ounty, S. C.—Bona sa le.—W e are in form ed
that the $75,000 A refu n d in g bonds offered w ithout success
.%
on N ov. 7 have been placed w ith Seasongood & Mayer of
Cincinnati. See Y . 79, p. 1730, fo r description of bonds.
L a p orfe, In d .—No Bonds Sold.—W e are inform ed that the
reported sale in the Indianapolis “ N e w s ” o f $30,000 H bonds
to E D. Bush & Co. o f Indianapolis, referen ce to w hich was
made in last w eek’s Chroncile , is n ot correct. The “ N e w s”
probably con fu sed this place w ith M ichigan C ity, Ind,,
w hich sold a sim ilar am ount o f bonds on N ov. 22, as was re­
corded in the C hronicle N ov. 26, page 2485.
L a w ren ce C ounty, I n d .—Bonds Mot Sold.—N o bids were
received Dec. 7 for the three issues o f gravel-road bonds de­
scribed in V . 79, p. 2601.
L ew is C ounty, W ash.— Bids.— F ollow in g are the bids re­
ceived Nov. 26 fo r the $10,000 10-20-year (optional) refu n d ­
ing bonds awarded, as stated last week, to N. W . Harris &
Co, o f Chicago :

Denom ination, tw enty-five bonds o f $1,000 each and twentybonds o f $500. Date, Jan. 1, 1905, Interest sem i-annually
F. W . H arris & Co., C hic., $10,227, a ccru ed in te re st and blank b on d s fo r 4 ^ s .
in N ew London. M aturity, $500 yearly from 1906 to 1924,
R u d o lp h K le y b o h e A Co., C in cln ra ti, *10,187 and a ccru e d Interest fo r 4J*s.
R oya l T ru st Co.. C hicago, » io .l0 6 , accru ed in te re s t and blank boi ds fo r 4 ^ s .
inclusive, and $25,50) in 1925. Bonded debt, tnis issue. A s ­
M orris B ros. & C b riste o se n , P o rtla n d . *10,081 and a ccru ed in te re st fo r oHssessed valuation, $850,000.
T ro w b rid g e A N ive r Co.. C hicago, $10,075, a ccru ed in te re st and blan k b on d s
r
E lm ira (T o w n ), £i. Y .—Bonds Voted . —This tow n on Dec. 1 fo N.4}^s, H a lse y A C o ., C b ic , $1 ,070, a ccru e d in te re st and blank b o n d s fo r 4J^s.
W
voted to issue $4,000 highw av and bridge-repair bonds.
i M acD onald , M cC oy A C o., C hicago, $lu.u61, a ccru e d in te re st and blank b on d s
f o r 4*^8.
Eveleth, A in u .—Bonds Re-s>ld.—The $50,000 51 w ater­
A lb e rt C. Case, N ew Y o r k , $10,276 a n d a ccru e d in te re st f o r 5s, or $10,031 and
w orks bonds aw ardtd last June to John Nuveen & Co. of in terest f o r 4 s«8 .
C. H. Coffin, C hicago, $10,021, a ccru e d in te re st and b la n k b on d s f o r 4Hs.
C hicago were re-awarded on Nov. 29 to the Itasca In vest­
S A . K ean. C h ica go. $10,006 and blan k Bonds f o r 4JiS.
J. M. H olm es, C hicago, $10,060 f o r 5s.
m ent Co. of Duluth at par. These bonds w ere described in
Y . 78. p, 2399.
L e x in g to n , K y .—B ond Offering.— Proposals w ill be re­
F ra n k lin County, (P . O. C olu m bu s), O h io .—B onds Pro
ceived u n til 12 M , Dec. 31, by Thom as A. Com bs, M ayor, for
p o s e d .- T h e issuance o f $300,000 em ergency bonds is being the $20,000 A uditoriu m and $50,000 o f the $100,000 sewer
considered.
bonds voted at the election on Nov, 8 . Denom ination, $1,000.
F re d e rick to w n , O h io.—B ond Sale.— On Dec. 1 the $20,000 Date, Feb. 1, 1904. Interest sem i-annually at the city de­
5% 1-40-year (serial) water bonds described in V. 79, p. 2165, positary, the Pboenix N ational Bank o f L exin gton , K y . A u ­
w ere awarded to the F irst N ational Bank o f F rederick tow n thority, Section 3073, K en tu ck y Statutes.
at 110*05 and interest. F o llo w in g are the bids :
L e x in g to n , M iss .— Bond Sale.— On N ov. 22 the $25,000 5i
coupon school bonds described in V , 79, p. 2224, w ere aw ard­
F irst N at. B k „ F red erick t’ n .$22,010 00 I Denison. P rio r A C o .,C le v e P. S. B riggs A C o., C in eln ___ 22,200 00
land and B o s t o n .... $2l,4e2
60 ed to Fuller, Parsons & S oyder o f Cleveland at 101 for bonds
W . K. T o d d A C o., C ln c m ___ 22,100 00 I C incinnati T ru st C o.. 21.352
18
W . J. H a yes A S ons. C le v e ... 21,850 00 I S ecu rity Sav. B an k & T r. Co. 21,100 no m aturing in 80 years w ifhout option o f prior payment.
W e il, R oth A C o., C ln cin ....... 21.717 00 P rov. Say. B ’ k A T r. C o.. C in . 21.025 00
L iv in g ston C ounty, N. Y.—Bond Sale. - T n is con n ty on
B easongood A M a y e r .C ln c m . 21,525 75 I H a yd en . M iller A C o., C lov e. 20,825 00
L a m p r e c h tB r o s . A C o.. C ie v . 21,500 00 I A . K ley b olte A C o.. C in ctn. . 20,800 00 N ov, 28 awarded to the State Bank o f A von at 100*325 an
I S. A , K ea n , C h ica g o................. 20.010 00 issue o f $11,500
county-hom e- repair bonds, D enom ina­
F rem on t O h io .—Bond Offering. -P rop osa ls w ill ne re­
tion, $5,750, Interest annually at the office o f the C ounty
ceived u ntil 12 m ,, Dec. 19 (sale postponed from N ov. 28),
Treasurer or at the Im porters’ & Traders’ N ational Bank,
b y the Clerk o f C ouncil, for $6,932 4%% coupon W est State
New Y ork C ity. M aturity, one bond Feb. 1, 1906, and one
Street sewer bonds.
Denom inations, $300 a o d $400 (one
bond $432). Date, Dec. 15,1904. Interest, A pril 1 and Oct. 1 bond Feb. 1, 1907.
L ora in , O hio — Bonds Refused.—T he $14,000
Black
atthe office o f the Sinking Fund Trustees. M aturity as fo l­
R iver im provem ent bonds awarded on A u g 2 to W eil, R oth
low s :
$300 A p r i l l . 1905. I $400 O ct. 1,1907. I $300 A p ril 1,1910. |$300 O ct. 1,1912. & Co. o f C incinnati have been refused.by that firm on advice
300 O ct. 1,1905. | 3 i0 A pril 1, 19»8. | 400 O ct. 1,1910. | 300 A p ril 1, 1913. o f their attorneys, Messrs. Peck, Shaffer & Peck.
It seems
400 A pril 1, 1000. I 800 O ct. 1, 1908, I 300 A p r i l l , 1911. I 400 O ct. 1,1918.
400 Oct. 1,1906.
400
A p ril 1,1909.300 Oct. 1,1911. 400 A p ril 1, 1914. that several taxpayers have brou ght suit to prevent the is­
300 A p ril 1, 1907. I 300 Oct. 1. 1909. I 400 A p ril 1,1912. I 432 O ct. 1, 1914. suance o f these bonds, and that w h ile the tem porary in­
ju n ction originally granted has been vacated by the courts,
Certified check on a Frem ont bank fo r $600 required.

D e c . 10, 1904. J

2657

THE CHRONICLE.

the plaintiff* have appealed to the Circuit C urt, and the
matter is still pending. In view of this the attorneys advise
the Cincinnaii firm not to accept the bonds until the case
has been finally adjudicated.
McDonough, Qn.—Bond Offering.—Proposals w ill be re­
ceived until 12 M., Dec. 21, by R L. Turner, Town Secretary
and Treasurer, tor the $10,000 6% school bonds voted re­
cently. Denomination, $100. Date, Jan. 1, 1905. Interest,
annually at the Bank of Henry County, M cDonough. Ma­
turity, $500 yearly. Certified check for $250 must accom ­
pany proposals. As required by law this issue has been
validated by the Superior Court of Henry County. The town
has no debt at present. Assessed valuation, $308,487.
M artins Ferry, Ohio.—Bond Sale.—The trustees of the
sinking fund have purchased at par and interest $2,500 b%
electric light bonds of $500 each and $985 5# fire department
bonds—two of $300 and one o f $385. Securities are dated
Nov. 15, 1904.
M ercer County (P . 0 . T renton), N. J .—Bond Sale.—On
Dec. 6 $18,000 4% road-improvement bonds were awarded to
R . M. Grant & Co., New Y ork City, at 105'078. Following
are the bids :

New York City .—Bond Issues.—The follow ing issues of
corporate stock o f New York City were taken by the sinking
fund as investments during the month o f November :

E. D. Bash & Co.. Indtan’lis..$30,775 00 I W ell, R oth & Co.. C in cin ......$80,015 00
S easongood * Mayer, nnein. 30,700 00 W .J . H a y e s * S ons, C le v e ... 30,55100
E.M . Campbell & Co.. In d ’llg. 30,090 00 |

$6,000 00 4% paving bonds. Series “ P ,” m aturing on e b ond o f $600 yearly on
F eo. i from 1900 t o 1015, inclusive.
688 90 4% sewer bonds, Series *Q,” m aturing one bond o f $58 89 yearly on
Peb. 1 fro m l»i 0 t o 1015, inclusive.
369 53 4% sewer bonds, Series “ R ,” m aturing one bond o f $30 95 yearly on
Feb. 1 from 1906 to 1915, inclusive.

Purpose..
I n t’st R a te.
Various m unicipal p u rp o s e s...................................... 3
W ater supply................................................................... 3
Assessm ent b o n d s.......................................................... 3

M aturity.
1954
1954

| No v T^OS1 }
"

Am oun t
$110,oco
86,000
452-500

T o t a l.................................................................................................................... $648,500

In addition to the above bonds, the follow ing “ revenue
bonds” (temporary securities) were issued :
R evenue bon d s—S pecial..................

Revenue bonds—Current expenses.
R evenue bon d s—
Cu rent expenses.
R evenue b o n d s-C u r re n t expenses
R evenue bonds—Current expenses
Total.

I n t. R ate,

S

A m ount.
$357,020
1,825,000
13,250,000
450,000
7,2o0,0Q0
$23,132,020

Norwalk, Conn.—Bond Sale,—This city has sold to R L.

Day & Co. o f Boston $34,000
water bonds at par.
These bonds are part o f an issue o f $80,000, of which $46,000
were taken by the sinking fund as an investment, as stated in
the Chronicle o f May 28, 1904, Denomination, $1,000.
Date, June 1, 1903. Interest, semi-annual. Maturity, June
R . M. Grant & Co., New Y o r k ... 105*078 I H . L . Crawford & Co., N. V ........ 106*048 1, 1928. Subject to call after June t, 1923.
Farson. Leacn &Co.. New Y o r k . 105'78
N. W . H aU ey & Co., New Y o r k .105*02
J ohn D. E veritt & Co., N. Y ___105’ 10 |Spitzer & Co., New Y o r k ............ 104-08
Ocala, F la .—Bond Sale.— We are informed that the $45,Secuiities are dated Dec. 1, 1904, Interest, semi-annual. 000 5« gold general bonds offered on Nov. 21 have been sold.
See Y, 79, p. 1980, for description of bonds.
Maturity, Dec. 1, 1934.
Oneida, N. Y- -Bond Offering.—Proposals w ill be received
Michigan City, In d .—Bids.—F ollow ing are the bids re­
ceived N ov 22 for the $30,000 4# funding bonds awarded to until 8 p . M., Dec. 21, by C. M. Ruggles, City Clerk, for the
follow ing b o n d s:
E. D. Bush & C i. of Indianapolis :

Denomination, $1,000. Date, Jan. 1, 1905. Interest, semi­
annual. Maturity, $2,000|yearly on July 1 from 1906 to 1920,
Securities are all dated Dec. 1, 1904. Interest annually on
inclusive.
Minnesota.—School Loans. —According to the St, Paul Feb. 1 in Oneida or in New Y ork City. Bonds may be cou ­
“ Pioneer Press” the State Board of Investment on Dec. 3 pon or registered, as desired. Certified check for log o f bid
required.
granted the follow ing loans :
Am ount. Dist.
County.
D ist.
Am ount.
County.
Orudei (B orou g h ), N. J .—Bond Sale.—On Dec. 5 this
4 6 . . .Isanti ............. .
I n d p t -.L y o n ...........................
borough awarded to tne Hackensack Trust Co. o f Hackensack
42.. .D o u g la s ...............
6 3 . . . . K it t s o n .....................
61.. .Cottonwood*........
0 7 ... .K itts o n ......................
an issue of $50,003 4% sewer bonds at par. Denomination,
71.. .A itk in :.......... .
9 4 . . . .H e n n e p in .................
$1,000. Date, Jan. 1, 1905. Interest, semi-annual. Maturity
72.. .A i t k in ......................
1 5... .Y ell >w M edicine ...
77 . ..A i t k i n .............. . .
1 4 ... .C a r lto n ...................... .
from 1910 to 1930, inclusive.
29.. D o d g e ........ .........
8 2 ... .B e ltr a m i ......................
Orange, N. J.—Bond Sale,—Oct Dec. 5 the $125,000 4% 8025.. ..C lea rw a ter .............
126... , R ic e ............ ................. .
860
76.. .Crow W in g ..........
9 8... .P o p e .................................
year school bonds described in V . 79, p. 2225, were awarded
34.. I s a n t i ........................
68.. M artin ............................. .......... 1,200
to N. W . Halsey & Co. o f New Y ork City at 108*676. Fol­
........
80u
117...
T(:>tal.......................................
iowing are the bids:
H alsey
.108*670 I
..102*572
Montgomery County (P. O. Dayton), Ohio.—Bond Sale.— N. W.H ayes * & Co., New vY o r k103*5a I RK ou ntze Bros.. New Y ork .r k ..102*482
W J
l e e .....
M. Grant & Co., New Y o
On Dec. 3 the $3,500 4% Rontsong ditch bonds described in H . L. CrawfordSons, CN. Y ......103*488 I 8.. A . Kean, C hicago....................... 100*06
& Co..
V . 79, p. 2601, were awarded to the City National Bank of Orange Nat. Bank. O range........ 102*08 |
Dayton at 100*585 and interest. Following are the bids :
OrangeYiile, Out.—Debenture Sale.—On Dec. 5 the $ is 5
000 4J^* debentures described in V. 79, p. 2602, were awarded
C ity Nat. B a rk o f D a y ton .......$3,620 50 1T hird N ational B an k....... .....$3,510 00
D a yton Savings & Trust C o ... 3,512 60 |8. A . Kean, C hicago.................. 8,460 00 to the Canadian Securities, Ltd., Toronto, for 15*225. F ol­
M ount Carmel, Pa.—Bond Sale.— This borough has sold lowing are the bids:
$10,400 building and $23,000 sewer 4# 10-20-year (optional) Canadian Sec., L td . T o r o n to .. .$15,226 I Geo. A. 8tim son & Co., T oron to.$15,130
O Hara &
T o n to ........
em ilius Jarvis
Co., T ro
bonds to the First National Bank, the Mount Carmel Bank­ H .m . C. Brent,Co., ro nr o ............... 15,214 AD om inion Sec. &o., T o roo n n to . 15,130
15,158 I
C
to ___ 16,028
W
To
to
ing Co. and the Guarantee Trust & Safe Deposit Co., all of
Osseo, Wis.— Bonds Not Yet Sold.—N o sale has yet been
Mount Carmel, at their join t bid o f 103 024.
made o f the $5,500
city hall bonds offered without success
M uskingum County (P. O. Zanesville, Ohio.— Bond Sale on Sept. 8 and described in V. 79, p. 751. W e are now in­
Enjoined.—An injunction has been granted restraining the formed that these bonds “ will not be sold.”
city from delivering the $55,500 4%% funding bonds recently
Oswego, N. Y,— Bonds Authorizei. — The issuance of
awarded at private sale to P. S. Briggs & Co. o f Cincinnati. $16,617 89 4%local Improvement bonds has been authorized.
The counsel for C. U. Shryoek, the plaintiff, claims that the These bonds have not yet been sold. Denominations, three
sale was illegal in that it had not been advertised. He also of $390 84 and eight o f $1,930 94. Date, D ec.l, 1904 Interest,
guarantees that if the bonds are advertised an offer will be April and October. Maturity, yearly on October 1 from 1905
made of $3,300 premium more than that bid by the Cincin­ to 1911 inclusive.
nati firm. The case has not as yet been tried on its merits,
Owensboro, K y.—Description o f Bonds,—The $200,000 4%
but according to local papers it is likely to com e np on water bonds awarded on Nov. 29 to Rudolph Kievboite &
Dec. 24.
Co. o f Cincinnati at par, as stated in last week’s Chronicle,
Newark, N. J .—Bond Sale.—John D, Everitt & Co. of New are dated Jan. 1, 1901, and mature Jan. 1, 1931; subject to
Y ork City has been awarded at 102*517 an issue of $150,000 call after Jan. 1, 1911. Interest, semi-annual. Denomina­
3 ^ 0 track-elevation bonds, the price being the same as paid tion, $ 1,000.
by that firm last July for $300,000 bonds answering to the
P ain esviile, Ohio.— Bonds Authorized.—The City Council
same description. The bonds are in denomination of $10,000. has authorized the issuance o f $12,500 storm-water-sewer
Date, Ang. 1, 1904. Interest, semi-annual. Maturity, Aug. 1, bonds.
1954.
Pine County, Minn.—Bond Offering.— Proposals w ill be
Newburg, O hio.—Bond Sale.—The three issues o f 5%street- received until January 3, 1905, by D. Greeley, County
improvement bonds aggregating $30,280 90 offered on Nov. Auditor, for $7,800 6-year poor farm bonds at not exceeding
12 were awarded, according to reports, to S. Kuhn & Sons,
interest. Certified check lor $300 required.
Interest,
Cincinnati, at 104 15. See V. 79, p. 1662, fo r description of ssmi-annual.
bonds.
Ked R iver County, T ex .—Bonds Registered.—This county
New Castle, Pa.— Bond Ordinances Pass Common Council. had registered with the State Comptroller on Nov. 29 an
—The Common Council has passed tne ordinances providing issue of $1,000 5% bridge-repair bonds dated Nov. 16, 1904,
for the issuance of the $25,000 4% electric-light and the $12,000 and maturing April 10. 1908.
6£ street-improvement bonds, mention of which was made in
Red W ater (T ex a s) Independent School D istrict.— Bonds
V. 79, p, 2486. The measures are now pending in the Select Registered.—The State Comptroller on N ov. 28 registered an
Council and will probably come np for action at the meeting issue of $3,000 5% 3-20-year (optional) school-house bonds
to be held Dec. 12
dated Oct. 1, 1904.
New M adrid, Mo.—Bond Sale,—On Nov. 28 the $12,000 5$
Rtickford, W ash.— Bond Offering.—Proposals will be re­
coupon water bonds described in V. 79, p. 2224, were awarded ceived until Dec. 15 by J. B. Gilbert, Town Clerk, for $5,889
to the Ltttle & Hays Investment Co. of St. Louis at 102’30. water-system bonds at not exceeding 6$ interest. Securities
Following are the bids :
are dated Jan. 1, 1905. Interest semi-annually in R ockford .
L i t t l e * H ays Investm ’tC o..
I Trow bridge & N lver Co., Cht..$12,007 00
Maturity, one bond for $189 on Jan. 1, 1908; tw o bonds o f
St-. Louis
...........................$12,270 00 | Koyal Trust Co., C h ica g o.... 12,055 00
W . R .Todd & C o..C incinnati.. 12,625 00 i John Jl. m essin g................... 12,080 00 $100 each on Jan. 1, 1909, and one bond of $500 yearly there­
J oh n N uveen & Co., Chic..... 12,400 00 W. J. H ayes & Sons, C le v e ... 12 ,007 00
Frances Bros. & C o................ 12,256 00 | 8. a . Kean, C h ica go........... . 13,830 00 after.
N. K. Cumpson ...................... 12,215 00 | Fuller, Parsons & Snyder.
R ocky Ford, C olo.— Bond Sale.—This place has sold an
F. B, Sherm an & Co................ 12,10100
C leveland.............................. 11,700 00
M acD onald, M cCoy&Co., Chi. 12,081 00 |
issue o f $30,000 5% 5-20-year (optional) sewer bonds to James
Newnan, da.—Bond Offering.—Proposals will be received H. Causey of Denver.
until Dec. 19 by E, D. Fouse, City Clerk, for $20,000 b% 20Rome, N. Y.—Bond Sale.—On Dec. 2, $20,000 4%registered
80-year electric light bonds, dated Jan. 1, 1905. These bonds street-improvement bonds were awarded to Kountze Bros.,
are not taxable by the oity. Present bonded debt $77,000. New Y ork City, at 104*0621 and interest. F ollow ing are the
Assessed valuation $2,147,000; real value about $4,000,000.
bids:

2058

THE CHRONICLE.

Kountze Bros., New Y o r k ..........104 062 I A lb ert C. C a s e . New Y o r k ......... 102 60
W J. H utoi- A ttone. Clevelaud.Ui2 74
Kar.on, l.eacb A Co . New York.l02*84
Oneida Co. Bar. Hank. R om a... 102*676 I George M. H ahn. New Y o r k .. ..10217
I.evdeH. Roberts, New Y ork ...102*67 I UtloaTruet 4 Dep. C o ................. 100*26
E. Seymour & Co., New York. ..102*68 |

Denomination, $500. D ite, D.’c. 1, 1904. Interest, seraiannnally at the National Park Bank, New York Oity. Ma
tnrity, $1,000 yearly.
Husk (Texas) Independent School D istrict.— Bond Sale.
— The State Board of EIncation has purchased at par $7,000
of the $18,000 5* 5-40-year (optional) school bonds registered
by the State Comptroller on Nov. 11, 1904. Bonds are dated
Oct. 1, 19 4.
St. Marys, Ohio.— Bond Offering.—Proposals w ill be re­
ceived until 12 M to day (Dsc. 10) by F . F. Aschbacher, City
Auditor, for $21,000 5* highway improvement bonds. De­
nomination, $1,000. Date, Jan. 2, 1908. Interest, semi-an­
nual. Maturity, 20 years. Accrued interest to be paid by
urchaser. Certified check for 10* of the amount of bonds
:d for, payable to the Village Treasurer, required.
Sanford, Me.— Bond kale.—Oo Dec. 5 the $59,000 3 ^# sewer
bonds described In V. 79, p. 2003, were awarded to E. H .
Gay & Co., Boston, at 99 20. Following are the bids :
E H G ay A C o., B o s t o n .............. 99*20 I L u th er R. M o o r e ........................... 95*26
N. W . H arris & Co., B o sto n ........ 98*50 |

San Francisco, Cal.— Bond* Awarded.— The Board of Su­
pervisors on Nov. 28 awarded to the syndicate of bankers the
$2,099,800 %%% gold bonds for which they offered par and
in ’erefi; at the sale Nov. 21. The banks forming the syndi
cate and the amount of bonds taken by each follow :
B ank o f C aliforn ia ..................... 1660,000
M utual Savings B a n k .............. 828,000
H ibern ia Savings B a n k ........... 800.000
Germ an Savings B a n k ............. 292,000
San F ra n cisco Savings U n io n .. 20(1,000

|M ercantile T rn st Co ..................$164,800
Nat. Bank o f D. O. Mills C o ... . 76,000
I Seourltv Savtngs B an k...... 40,000
I F rench Savings B a n k ........ 25,000
I M ission B an k.......................... 26,000

See V . 79, 2487.
Sank County, W is.—Bonds Authorized.—The County
Board has authorized the issuance of $100,000 4# 1-20 year
(serial) court-house bonds. Interest annually on March 1.
Date of sale not yet determined.
Springfield, Mass.— Temporary Loan,—The C ity Treasurer
on Dec. 7 awarded a 90-day school loan, amounting to $110,000, to the Eliot National Bank of Boston, at 8 49# discount.
The following bids were received:

N E W LOANS.

OUcnunt. I

Starke County, In d .— Bond Offering.—Proposals w ill be
received until 12 m .. Due. 10, by W ilbert A . Pierson, County
Treasurer, for $4,491 81 H coupon Coleman ditch drainage
bonds, Denomination, $748 64. Date, Nov. 7,1904 Interest
semi-annually at the Com m ercial National Bank of Chicago.
M atu-ity, one bond yearly, beginning A pril 1, 1907.
Sussex (N . J ,) Sch ool D istrict.—Bond* Not Sold —N o sale
was made o f the $5,000 4$ sohool bonds off ;red on D jO 8 .
.
The board adjourned until Jan. 7, 1905.
Sw issvale (P a .) S ch ool D istrict.—Bond Sale.—The $41,000 4# school bonds offered w ithout success on Oct. 8 were
awarded on Dao. 5 to the M unicipal Security Co. of Pitts­
burgh at par and interest. See V. 79, p. 1358, for description
of bonds.
Sydney, Cape B reton , N. S .—Bond Sale,—This city has
sold to Coates, Son & Co, o f London at 92 $330,000 4# street,
sewer and w ater-w orks bonds. Denom ination, $1,000. D-ites,
$40,000 Oct. 1, 1902; $185,000 N ov. 1, 1903, and $105,000
A pril 2, 1904. Interest, semi-annual. M aturity, from 1928
to 1938, inoluslve.
T obias, Neb.—Bonds Voted.— This place has voted to issue
$8,000 water-works bonds.
T oled o, Ohio.—Bond Bale.—A ccordin g to local papers the
Sinking Fund Commissioners, at a meeting held D o. 1, pur­
chased paving and repaving bonds o f the city to the am ount
of $ 8,561 33.
T ren ton , N. J .—Bond Sale.—On Deo. 8 an issue of $900 4#
10-year crem atory bonds was awarded to the Firem en’s R e­
lief Association at par and accrued interest. Securities are
dated Deo. 7, 1904, and the interest w ill be payable sem i­
annually.
T roy, N. Y.— Bond Sale.—Oa Dec. 5 the $57,844 76 4# as­
sessment bonds described in V , 79, p. 2488, were awarded to
S, A , Kean o f C hicago at par.
T unica, M iss.— Bond Sale.—On N ov. 7 the $5,000 6 # gold
coupon electric-light bonds described in V . 79, p. 1732, were
awarded to the Bank o f Tunica at par.
T w o H a rb ors, M in n .— Bond Sale.—On N ovem ber 14 $5 000
5# 10-year refunding bonds were awarded to the First

IN VE STM EN TS.

WILKES-BARRE, PA. City of Mobile, Ala*,
CITY IMPROVEMENT BONDS.

NEW YORK CITY
3% and 3 l %
A
TA X EXEMPT BONDS.

Diicnunt.

E lio t Nat. Bank. B o s t o n .................8'4t % I Bond A G ood w in . B oston................ 8 61*
Blake B ros. A C o., B o s to n .............8 60% | Morgan A Bartlett. New York ...8*80)4
Frank E . Jennlson. New Y ork ...8*60* I N a.tonal City Bank. New Y ork...4-O t*

^ 4 0 8 ,0 0 0

Sealed Proposals will be receiv ed by th e City o f
W ilkes-B arre o n W ednesday, D ecem b er 21st, 1901, at
la o ’ clock, n oon , fo r the sale o f $4o8,0u0 0 0 City Im ­
p rov em en t B ond s. A ll in form a tion can b e had by
addressing Fred. H G ates, City Cierk, W ilkes-B arre,
P enn .
G E O R G E SM ITH .
Chairman, F inance C om m ittee.

[ Y o L. L X ilX ,

5%
Coupon Paving Bonds.
The Direct and Primary Obli­
gations of the City of
Mobile.

IN V E S TM E N TS .
BOND D EPARTM EN T.

THE AMERICAN TRUST
& SAVINGS BANK,
Chicago, Illinois.
Offers Railroad,

M unicipal and Cor­

poration Bonds, conservatively issued,
yielding investors 4# to 5)4#*

P r ic e s and P a rticu la rs
on A p p lica tio n .

P r in te d lis t s a n d p r ic e s u p o n
a p p lic a tio n .

Bond Department.

Interstate Securities Co. F. R . F U L T O N & C O .,

T. W . S T E P H E N S & CO.,

5 Nassau Street, New York.

2 Wall Street, New York.

Perry, Coffin & Burr,

Municipal Bonds,
171 LA S A LLE

STREET,

______ CHICAGO.

INVESTMENT BONDS. CNVESTM ENT BONDS MacDonald, McCoy & Oo.,
*
. y . .*
60 State Street,

BEND FOR LIST.
im
*-

....... 1

-:0: ■,

DENISON, PRIOR &00,
CLEVELAN D.

B O STO N .

MUMICIPAL AMD CORPORA TI0M

BOSTON,

BONDSc
X7i La Salle Street, Chicago.

S P E C I A L I S T S IN

Established 1 8 8 3 .

Defaulted and Compromised
Blodget, Merritt & C o .,
H . C . Speer & Com pany
M unicipals of Kansas and
BAN KERS,
other States.
159 La Salle St., Chicago.
16 Congress Street, Boston.
H. C. S P IL L E R & CO., C I T Y 1 C O U N T Y
l
3 0 NASSAU S T R E E T , N E W T O R E ,

Specialists in Inactive Bonds,
27 S ta te S treet,
U o sto n .

STATE. CITY k RAILROAD BONDS

E.

MUNICIPAL BONDS.
C. STANWOOD 8b Co.
BANKERS.

95

Milk Street,
BOSTON.

Trowbridge& Niver Co.
MUNICIPAL AND PUBLIC SERVICE

BONDS.
CHICAGO,
1st Nat. Bank Bldg.

BOSTON,
60 State Street.

AND T O W N S H IP

B O N D S.

T . B. P O T T E R ,
MUNICIPAL and
CORPORATION

BONDS,

172 Washington Street,
C H IC A G O ,
•
■
IL L S .
L IS T ON A P P LIC A TIO N .

D e c . 10, 1901. J

National Bank of Chicago at IC 50, accrued interest and
O
blank bonds free of charge. Denomination, $1,000. Date,
Oct. 1, 1904. Interest, semi-annual.
Washington, 6a.—Bond Sale.—The $38,000 5% 30-year gold
coupon water-works and school bonds offered on Nov. 1 were
awarded to John W. Dickey of Augusta. See V. 79, p. 1358,
for description of bonds.
Watertown, Mass.—Bond Sale.—On Dec. 6 the $10,000 4?
drainage and the $22,000 4$ street-widening bonds described
in V. 79, p. 2488, were awarded to G. A. Fernald & Co. of
Boston at 103*68 and interest. Following are the bids :

&
&

Merrill. Oldham A Co.. Boston.. 108*139
H H. Rollins A Sons, Boston.. .108*087
L
R. L. Day A Co., Boston.............102*927
W . J. Hayes A Sons, Cleveland.!02-875

Geo. A. Fernald Co.. Boston. .108-68
Blodget, Merritt
Co., Boston.108-61
Blake Bros. A Co., Boston..........108’32
N. W .Harrls A Co., Boston...... 108'SOl
Estabrook A Co., Boston........... 108'2W

Temporary Loan.—The $50,000 temporary loan maturing
April 6,1905, was awarded on Dec. 6 to the Eliot National
Bank of Boston at 3‘62%$ discount. Following are the bids:

DUcount.

DUcount.

I
Eliot Nat. Bank, Boston............ S-62H* Geo. Mlxter ($1 60 premium)
i°oo$
Blake Bros. A Co., Boston.........8*68% 1Warren Ins. lor Savings..................s'OOjt

Webster, Mass.—Note Sale.—It Is stated in Boston papers
that this town has sold to the State at par an issue of $10,000
0 year high-school notes,
Webster Groves, Mo.—Bond Sale.—The $7,500 0£ currentrevenue bonds registered by the 8tate Auditor on Nov. 8
have been sold to the Bank of Webster Groves at par. De­
nomination, $500. Date, Oct. 27, 1904. Interest, semi-an­
nual. Maturity, Oct, 27,1905.
Webster Groves (Mo.) School District—No Election
Held.—W e are advised that the proposed election Nov. 17 on
the question of issuing $30,000 school bonds was not held.
Wetampka, Ala.—Bond Election,—An election will be
held in this city on Dec. 12, when the question of issuing
water-works and electric-light-plant bonds will be submitted
to th6 P O lO
Op i
White Plains, N. T.—Bond Sale.—On Dec. 5 the $23,000
4# 80-year water bonds described in V. 79, p. 2488, were
awarded to Estabrook & Co. of New York City at 105 43,
Wilkes-Barre, Pa.—Bond Offering.—Proposals will be re­
ceived until 12 M., Dec. 21, by Fred. H. Gates, City Clerk, for

INVESTM ENTS.

the $408,000 4% city-improvement bonds voted at the recent
general election.
The official notice o f this bond offering willbe found among
the advertisements elsewhere in this Department.
Winnipeg, Man.—Debenture Sale.—This city last month!
disposed of a large block of 4% bonds, the principal pur­
chasers being E. H. Gay & Co. of Montreal and N. W. Harrisi
& Co. of Chicago. E. H. Gay & Co. of Montreal purchased1
$397,849 76 of the bonds at 98^ and interest. These bonds
are for paving and sewers, and are dated June 1, 1904, and
mature in 5, In 10, in 15 and in 20 years. N. W. Harris &
Co. of Chicago took over at 99 and interest $250,795 of the
bonds which were issued for water, for hospital and for park
purposes. These mature in thirty years. The remaining
bonds offered by the city were purchased by Toronto and
Winnipeg parties. We are not informed as to the total
amount sold, but according to various newspapers it was
$750,000.
Womelsdorf, Pa.—Bonds Voted.—The vote at the recent
election on the question of issuing $8,000 80-year bonds was
215 to 70 in favor of the issue. Interest, not exceeding 4 per
cent.
Woodward, Iowa.—Bonds Defeated.—At an election held
Nov. 15, by a vote of 93 for to 53 against, this town defeated
a proposition to issue $8,000 water bonds, a two-thirds ma­
jority being necessary to carry,
Youngstown, Ohio.—Bond Offering.—Proposals will be re­
ceived until 2 p. m., Jan. 2, by Wm. I. Davies, City And-'
itor, for the following bonds :

5%

$950
St. Clair A re. sewer bonds.
2,166 6jt Mercer Street grading bonds.

M ISCELLANEOUS.

BANKERS,

Engineers, Contractors,

DEALERS IN

43-49 Exchange Place, New York.

M U N I C I P A L , R A I L R O A D and
S T R E E T R A IL W A Y
BONDS.
1 NASSAU STREET, NEW YORK.

Interest Paid on Dailv and Tirr.e Deposits.

1904.

The United States Life
Insurance Co.

22a College Hill, Cannon St.

Active and successful Agents who desire to
make DIRECT CONTRACTS with this wellestablished and progressive Company, thereby
securing lor themselves not only an immediate
return for their work, but also an Increasing
annual inoome commensurate with their
success, are Invited to communicate w th
RICHARD E. COCHRAN, 3d Vloe-I resident,
at the Company's Office, 277 Broadway, New
York City.
_______________

A m e r ic a n M f g . C o .

Assets, over $8,750,000.
Paid to Policyholders in 1903, $1,060,955 70

LONDON CORRESPONDENTS:
J . G. W H I T E & CO., L im ite d ,

E. H. R O L L IN S & SONS, T
BO ST O N .

he

MANILA SI8AL AND JUTE

San Francisco.

MUNICIPAL AND
PUBLIC FRANCHISE CORPORATION
BONDS

I860.

CLARENCE H. KELSEY, Pr.TltGnar.A Tr.Oo.

AMD

Chicago.

M ISCELLANEOUS.

Electric Railways, Electric Light and Electric WILLIAM H. PORTER, Pres. Chem. Nat. Bank
Power Plants Financed, Designed and Built.

Public Service Corporation
BONDS.
Denver.

5% Duquesne St, sidewalk bonds.

IN THE CITY OF NEW YORK.
Investigations and Reports on Electric
Railway, Gas, Electric Light, and
J ohn P. M u n n , M.D., President.
Power Transmission Properties
F in a n c e C o m m itte e :
for Financial Institutions
JAMES R. PLUM.....................................Leather
and Investors.

M U N IC IP A L
•

I $945
|

Maturity, one-fifth of each issue yearly on October 1 from
1906 to 1910, inclusive.
Bonds are dated Jan. 9, 1905. Interest will be payable
semi-annually at the office of the City Treasurer. Purchasers
must be prepared to take the bonds not later than Jan. 5,
1905, the money to be delivered at one of the city banks or at1
the office of the City Treasurer. A certified check on a
Youngstown bank for 2% of the amount of bonds bid for,
payable to the City Auditor, must accompany proposals,
which must be made for each block separately.

Rudolph Kleybolte&Cc. J. G. W H IT E & CO.,

i I!

2659

THE CHRONICLE.

CORDAGE.
65 Wall Street, New York.

BONDS sfSBx CERTIFICATES
H andsom ely engraved; steel-plate effect. Also

the cheaper kind, partly lithographed and partly
printed from type. 100 Stock Certificates, $3 to
$25; the latter engraved with steel-plate borders
—elegant. Seal Press, If with Certificates, $1 50.
ALBERT B. KING & CO., 105 William St., N.Y,
Engravers and Litnographers.
(Telephone.)

B o u g h t and S o ld .

R E A D Y J A N . 15.

W. J. H A Y E S & SONS,
C I .K V E I .A N D . O H I O .

"W H IT IN G ’ S P A P E R S .

BOSTON, M A SS.

OF

_____ E N G I N E E R S .

Railroad Securities.

H * M * Byllesby & Co**

(Issued Sem i-Annually b y the Publishers of the
OoMMEBOiAi
F in a n c ia l C h b o n io l k .)

A

INCORPORATED.

E N G IN E E R S .
D E S IG N , C O N S T R U C T A N D

HAND-BOOK

OPERATE

R A I L W A Y L IG H T , P O W E R A N D
H Y D R A U L IC P L A N T S .

Examinations and Reports.

F o r B u sin e s s C orresp on d en ce,

TERM S:

W hether fo r letter written with your own hand, o>
by^he typewriter, are U N EQUALED. T heir qualltj
U assured and they have won highest honors at al)
the great W orld’s Fairs. For high grade writing
papers o f all kinds, fo r bond papers, and fo r ledgei
papers. Insist on having them made by the

Price o f Single Copies,
$1 OO
T o S u bscribers o f the C h ro n icle,
Tl

W H I T I N G PAPER C O M P A N Y ,

WILLIAM B. DANA COMPANY

T o Bankers and Brokers In quantities, with that?
sards lettered In gilt on the cover, at special rates.

H O J .t O K K, M A S S .

New York Life Building CHICAGO, ILL

New York.

Philadelphia.

Chicago

Pine Street, coi, Pearl Street New York.

THE CHRONICLE

2 6 6 0

gtccmtutimts.

v O L . L x X IX ,

Qxwst (Cmup aim s.

LYBRAND,

T E & F :

ROSS BR O S &
MONTGOMERY,

Certified Public Accountants.
(P e n n s y lv a n ia )

S te p h e n f ilr a r d B u ild in g ,
P H IL A D E L P H IA .
W a l l S tr e e t E x c h a n g e B u ild tn e ,

H

NEW Y O R R .

E

W

15 NASSAU STR EET

H A S K IN S & S E L L S ,

CERTIFIED PUBLIC

TRUSTEES I
James H . H yde,
H. O. Deming.
E. H. Harriman,
H. C. Frick,
O. B. Alexander,
William H. M cIntyre,
T. H. Hubbard,
Gage E. Tarbell,
John F. Dryden,
T. De W itt Cuyler,
D. H. Moffat,
Lawrence L. Gillespie,
Clarence H. Maokay,
Wiliiam H. Baldwin Jr.,
Six W illiam 0,'Van Horne,
Ohanncey M. Depew,
W. B. Banking,

ACCOUNTANTS

30 Broad Street, New York.
30 Coleman Street, London, E. C.
Cable Address, "H A S K S E L L S .”

Chicago,

Cleveland.

St. Louis.

Pittsburgh

Fta ot W . F. WEI SS, .
CERTIFIED PUBLIC ACCOUNTANTS
128 B r o a d w a y , N ew ¥ o r i .

' * " .

EQUITABLE BUILDING.
T R U S T E E :-- ;

Alvin W. Krech,

J. W. Alexander,
V. P, Snyder,
Otto H. Kahn,
James H enry Smith.
Geo. H. Saul re,
Bradish Johnson,
W illiam A lexander.
A lvin W. Kreoh,
M. H artley Dodge,
H. M. Alexander,
8 . M. I d m an,
Frederic R. Condert,
H. H. Porter Jr.
W. H. Crocker,
O. F. A drm s 2nd,
John M. Hail,
Edward M House,
L, F. Doree.

President,

James H. Hyde,
Vice-President.

L, L, Gillespie,
Vice-President,

F, W, Fulle,

Bee, and Treaa.

Lyman Rhoades Jr,,
Asst. SecretaryH, M. Walker,
Asst. Treasurer.

Solicits Deposit® of Individuals and Corporations*
Interest ©n DaiSv Balances..

Examinations of financial Conditions and Earnings,
Reports and A djustm ents for Consolidations
and Reorganizations.
I n v e s t i g a t i o n s a n '1 A u d i t s e f B a n k i n g a s d
S to c k B r o k e r a g e M o u s e s .

CAPITAL, $ 3 e© 0 0 , 0 0 0 E

P og son , Peloubet & C o,

SURPLUS. © 9 , 0 0 0 . 0 0 0 ,

W ix im m m m

PUBLIC ACCOUNTANTS.

.

O F F IC E O F T H E

NEW YORK, 42 Broadway
CHICAGO, Marquette Building
ST, LOUIS, Chemical Building
B U TTE, Hennessy Building.

ATLANTIC MUTUAL INSURANCE COMPANY,

G

T M T r u s tee s , i n C o n fo r m ity w ith th e C h a r te r o f th e C o m p a n y , s u b m it th e f o l lo w in g s ta te m e n t
“ G--1
i t s a f f a i r s o n t h e 3 1 s t o f D e c e m b e r . 1903 ;

.

.

r' - s ^
u n w

, R

i c h a r d s

&

G o ,

P E O D U C T IO K E F G I F E E E S ,
P U B L IC A C C O U N T A N T * .

W a l l S tre e t E ie fe a is g e X in iid tn g ,
4 3 W a l l St. a n d 4 3 E x c h a n g e P l a t e .
Telephone 6940-8941 Broad.

Wilkinson, Reckitt,
Williams & Co.,
C E R T IF IE D PU«M <D ACCOUNTANTS,
(I lli n o i s .)

5 2 B r o a d w a y , N ew Y o r k .
CHICAGO.

P H IL A D E L P H IA .

LOOMIS, O Q IA If & 00s
C E R T IF IE D P U B L IC A C C O U N T A N T S
3 0 B ro a d S treet, N ew Y o rk .
TeL 4958 Broad.

A L F R E D ROSE,
C E R T IF IE D P U B U C A C C O U N T A N T . '
CALVERT BUILDING,
50 PINE STREET,
BALTIMORE.
NEW TORE.

JAMES PARK & CO.,
PUBLIC

ACCOUNTANTS,

5 2 B r o a d w a y , N ew Y o r k .
2 3 8 L a S a lle S tr e e t,

of

Premiums o n M arine Risks from 1st January, 1903, to 31st D ecem ber, 1 9 0 3 ...
Premiums on Policies n o t m arked off 1 st January, 1 9 0 3 .. .. ..................................

$3,174,1 17 73
800,388 56

Total Marin© Premiums . . . ......... ................... ..................... ............................................

$3,974*516 29

Premiums m arked off from 1st January, 1903, to 31st D ecem ber, 1 9 0 3 ..______ $3,250,364 45
Int&resfereceived during the year................$336,185 20
------— -------B m t , . ivG -rt
• “
.
. “ : . less T a x e s .......
111,923 77
$448,108 97
estimated
Losses paid dur „
in 1902 and previous y e a r s . . . . . . . ...................... $322,490 79
Losses occurred, estimated and,paid in 1903_____ 1,065,141 83
.

' .• ■
■

C h ic a g o ,

THE SOUTH.
O p p o r t u n it ie s , Imvestnaeia®.

1

$1,387,632 62

$146.587 55
64,028 75

210,616 30

*
“

Less S a l v a g e s . . . . . . . . . . . . . . . .
B e-m saran ces....... ......... . . . .

t& & fS
yQ
BOSTON, MASS,

Books audited. Examinations and lavsstiga?
Hons conducted with the utmost
care and efficiency.

CERTIFIED

New York, January 20th, 1304.

...

W M . F R A N K L IN H A L L ,
Accountant,
Exchange Building,
53 State Street,

^

$1,177,016 32

:,S e t o » s eSFremiums- and E xpenses, $467,841 97 v

The Company-'lifts-, the follow ing Assets, viz.:
United.States and State o f New Y ork Stock; City, Bank and other Securities------ $5,170,084 00
Special deposits in Banks and Trust Companies...............................
1,612,252 53
Efekl Estate corner W all and William Streets and E xchange P lace... $3,789,000
U tter/Beal-Estate and Chaims due the C o m p a n y ...___ ____________
75,000 3,864,000 00
.Premium Notes .and B ill R eceivable. . . ..... ................. ...................... ...........................
Cashintfes hands o f European- Bankers to p a y losses under policies payable in
1
g&
____ ____ . . . .
ssh in B a n k . . . . . . . . . . ............... .
A m o u n t ..... . . . .

1,107,221 88
182,001 68
89,461 72

...... ........ ...... .............................................. $12,025,021 81

@£x per cen t interest on the outstanding certificates o f profits w ill be paid to the holders
Hereof, o r their legal representatives, on and alter Tuesday, the second o f February next.
The outstanding certificates of the issue o f 1 8 9 8 w ill be redeemed and paid to the holders
thereof, o r their leg a . representatives, on and after Tuesday, the second o f February n ext, from
which date all in terest. thereon w ill cease. The certificates to be produced at the time o f
payment, and canceled. *
A dividend o f JfforSy p e r cen t is declared on the n et earned premium s o f the Company
for. the year ending 31st December, 1903, for which, upon application, certificates w ill be issued
©a and alter Tuesday, tko third o f M ay n ext.
B y order o f the Board,

C . STANTON F L O J O N E S , Secretary.

TRUSTEES,
G U S T A V AM87NCK,
F r a n c is m . b a c o n ,
JOHN N . B E A C H ,
W IL L I A M B. B O U LTO N
VERNON H . BROW N,
W A L D R O N P. B R O W N /
TOSSIP'S H . C M A l’ ilA s F
9 B O R G ® 0 .. C L A R A . '

CO a NBiUUia, jftLu ifili'E.
B W A L O VhmTMANN?

H E R B E R T L . GRIGGS.
, C L E M E N T A . GR1SCOM,
'A N S O N W . H A R D ,
MORRIS K . JESUP.
L E W IS CASS L E D Y A R D ,
FR A N C IS H . L E G G E T T ,

CHARLES D. L EVE RICH,

OLEANDER N. L O V E L L ,

GEORGE H. MACY,

<’H A R L E S H . M A R S H A L L ,
W . H . H , MOORE,

B u s in e s s
S e c u r it ie s , R e a l E s ta te , 'T im b e r , M lu e s .
I n d u s t r ia l P r o p e r t ie s , F a r m o r l o w ®
M o r tg a g e s 1m a ll p a r ts o f t h e S o u th .

L E V I P . M ORTON,
H E N R Y P A R IS H ,
F R E D E R IC A . P A R S O N ® ,
D A L L A S B . P it A T T ,
G E O R G E W . Q C IN T A R B y
A . A. RAVEN.
JO H N L. H IK E R ,
D O U G L A S ROBINSON.
G U STAV H . SCH W AB.
W I L L I A M C. S T U E G E g*

A. A. RAVEN , P r e s id e n t
F. A . PA R SO N S , V i e e - P r e s ’ L
C O R N E L IU S E L D E R T , 2 d Uiee-Pres’ fc
T H E O . P. JO H N SON, y d n c e - P v e s ’ t.

METROPOLITAN INVESTMENT CO.,
GEO. B . ED W A R D S , President, Charleston, S. C,
Commercial and Financial A gent
Easiness undertaken in all parts of the world.
Satisfactory references

A t la n t ic M siS nal 5ii.8s.ru.ac© C o m p a n y ®crtj>
o f A H Y e a n s Hougtee a n d S o ld .

Fred EL Smiths

JO H N M f GILLESPIE,

66 BROADWAY, N.Y. Established 1868E

S tock: B r o k e r ,

O T T O JULIUS MERKEL
BROKER
44

AND

48

W AUL.

8T

NEW

Y O R K ..

INVESTM ENT SECURITIES.
Correspondence Invited.

Room No, 518 Atlantis Building,

49=51 W all

Street,

NSW TOfltff.

} New York Produce Exchange.
M embe- S [ New Yurk Con. Stock Exchannetly office is in receipt of all the news of the Street,
Prompt and efficient service for either trade
or Investor. W rite for special market letcarr.