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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 ** - J • © ®* M 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 * f-1 M * i « — Into volu n tary liqu idation b y resolu tion o f its stockh olders w c o C O * CO © w to * © CD©© M © « 00* to© — .9° s dated O ctober 18, 1904, to take effect on th at date. M O M ® © » 'CD © < ! V i OS C O W W © W CO © b * ©OI o © CO CO COOGODO* < 4 -© «3 © < lO 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 ? *00 co a> * ■ < ! © © C O M tP C O ® 0 © ©©QD CD O CE O v olu n ta ry liquidation b y resolution ot Its stockh olders dated COJ * M H* * * O ctober 18, to tak e effeot on O ctober 3 1 ,1 9 0 4 . Succeeded by MM -J H* C0t-**3 v 3 O C O © ® M .© MJCP © W ® * © a tru st com pany. ® » © Q © tO D © © © 1 3 « ! Ot © ! 00© M QD V M - 3 60 -3 © Ct M l-* ® © to © to© © i <& 1,894—The F ifth N ation al B ank o f Pittsburgh, P enn sylvania, has ©QD qouo w © >-* c o * a © < iM A co © CD © ® -3 ® *© © tO 0 9 © to® * 1 * g on e Into v olu n ta ry liq u idation b y resolu tion o f its sto c k M M * MM * — to * O M . 3 60 « * * ^ <»<3DM w oo© © , 60 CD 00 holders dated O ctober 1 0 ,1 9 0 4 , to take effeot N ov em b er 1. COCO c o w *■* fe © so 'm * © © fe >>-* £ tO CO © C © M D * V od V i -3 ^3 1904. C onsolidated w ith the F o rt P itt N ation al Bank o f GO© ©00 © M on Q W tO © » 3 © © CO C bJM © <5 3 CD ® M M to w w Q D CH© «3 0 l © tc* © © © © »- * © © ® M -4 Pittsburgh, * M i-1 * H* MW * * 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 CO© ® c©!-* CO© ©GO* ~3 t o c o to M w w -a — volu n tary liqu idation b y resolu tion o f its stock h olders dated CO Q3 <b CD © ® © * Q 0 * "cc W G O O l* © * © “3 © * © e M ’o * M -3 0 D M © « 3 © © 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 CO C »® -3 to •3® 03 © * ^ © M * ® «= a = a *coco© • © to w o co co co © © 00 © © W ® the W ilson C oun ty B ank o f F redonia. M to *-* — * M M © * * 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 ^ -0 © W CO © O © © M *0909 ► * © o a untary liqu id ation b y resolu tion o f Its stock h olders d ated © 100 — GO t - '© ® * © * lu* © © <a ® t o 'm m ® a c^ * t o 10 CO <30 ® en © o s ® © m MI-4 * " ■ ■ * © © *3 Q 0® *3 an O ctober 22, to tak e effect N ovem ber 1 ,1 9 0 4 . CBM © © ► - © < * Si. * 0 *JM -a <35 © * CD t© * CD © O M CD 1 ,8 9 3 — he Citizens’ N ational B ank of W ashington City, D . O., hag T co € 0 * * tow to w * «© «aC3D-3 © CD M7G9 0 O IO M 0 * M to 09 gon e in to v olu n ta ry liquidation b y resolution o f its s to ck w e © eo© © 09 ^><35 © 0 0 * * © * * 00 © GO© 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 © «3«J® © w o ® © « O 00 00 CO <3: GO W “3 C O * ® © © * -4 solidated w ith the N ational M etropolitan C itizens’ B ank o f * QD CO CD <35 * —M ©l 1 -* MM M M M * t o to WM W ashington. * ©1 c o t © t o c o ® CO M M - 3 - a * © CO SOM © * •40® 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 ^3 beoM 4* has gone Into volu n ta ry liq u idation b y resolu tion o i its sto ck © ® W ® © «3 © © © o r ® QD 0 css -3 - a ea go 0 © M © 05 * © C O 00 * © © « 0 * * * Cft * 0 © •3© © *© 0 © 0 -3 « * * h olders dated N ovem ber 2 i , 1904, to taka effect on that date. t o ® w © M M M H * © * MW *1 — 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 CO M © © ® © * co® w 1= 5 v olu n ta ry liqu id a tion by resolu tion o f Its stock h old ers dated b> * "•3© © ©<35 60 to © * 00 * W M © 3 Q t w 03 W * © © © * *00 t o © © -J M © ©CO ©Q 0W CS N ovem ber l e , 1904, to take e ffecton that date. C onsolidated M t o woo©o ca O t® *-« m CR 09 © «3*«3C O * to * © W © = 3 -3 © w ith The F irst N ational B ank o f Prim ghar. CO M * M » * M * MW to ^3C©CD ia © © © CD © C O © to * w © © 3.272— T he M ercantile N ation al B ank o f Cleveland, Ohio, has gone w w * <33 g! *© *^ 1 t o * w oo * W OGC * t O © «D| M-tOQS -i® 80* * » 6 in to v olu n ta ry liquidation b y resolution o f Its stockholders ^ to © - 3 © 3SCD O QD QC «3 © © © © C O © * «3* w c**dated N ovem ber 2 5 ,1 9 0 4 , to take effect on D ecem ber l , 1904. © t o M ® OD- 3 t o 0 0 ^ * ea *M © 05 — ^ © w © e o © -3 « © * • Succeeded b y tbe N ational Com m ercial B ank o f C leveland. Cl r-* MM M -» M-k-4 © * to w * w w * © Q DCO* 68 C O O M ® M ® <33 © o w 0 * — CO 0 c 6 ,2 9 c—1 he N ation al B ank o f N orth A m erica, C hicago, Illinois, has M M T ® <» © m* © © M ^ < io o b © © ® W W * lO * 3 © 10 CD QD » c k « « gon e in to v olu n ta ry liquidation b y resolu tion o f it® s to c k m i— mm »=s 55 Cl *3 h -o 3 to CD — Ct ® * ® © o © I** M © 3 t o =»3CO 3 ©OI ® CO c a -a o o « o © © CO e r * © h olders dated N ovem ber 28, 1904, to ta k e effect on that date. * * 1 — « M »-» ' M IO M * * w «e A bsorbed b y the C ontinental N ation al B ank o f C hicago, to © M to w to * * -* © © © © * M © © m co — o © a © * tes *> O -a co "W r fk lo * * 0& W W W © <35^00© © © C6J •3 09 40 0 3 © © 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 © © ©•s © -3 M ® w w 3 3 «*0D * © © * CD»-» w 09 -a <3 ® CO * t o © iM *3 «> * ^ F -M t o W '- 'Q D © ! © © © © C ?l M * lo e c © qcot ► -© © © to © or © CO 09 * c». © 0 0 © © © CD CD C O C O W O * -3 CO £0 *-* * CO * M M M » -* ts o o ^ OMQO * o © * © © CO t o M *3 -» © «r- C J © ® 09 S M * © © M *>3 -* -1 © CO © © © G O * ee © w w -o © o *3 w w *M * * © © w co^ a © -Q co w © © W •3 ® ® * W * — w w * m eo “3 QD H V » fl M *4® <4— — © I ? ^ M r ^ 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 9 8 V S ale 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 .......... J -J 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 ......... 110*4 N o v ’ 04 ___ 105 V 110*4 J -J 1 1 0 * 4 .......... 1 1 1 V M a y ’ 03 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 J -D 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 88 ’ 8 8 V 65 84 8 7 V 89 89 F -A 110 G al l i a r A S A l s t g 6 s . . 1 111 109 V O c t ’ 04 10/ 109V 2 d g o ld 7 s .......................... 1905 J-1) 99 V .......... 103 S e p ’ 04 ___ 100 V 103*4 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 110V H o u s E A W T 1 s t g 5 8 .1 9 3 3 M-N 1 0 4 V .......... 104 V i 104 V 107 V 104 V 1 s t g u a r 5s r e d .............1 9 3 3 M-N 1 0 3 * 1 ......... 103 V J ’ l y ’ 04 — 103 V 103 V BOND* N. Y. S T O C K E X C H A N G E W e e k E n d in g D e c 9 I*rice F rid a y Dec 9 ol. Wee k 's L a n g e or L a s t S a le LX X IX . - ! It a n ye Ic^ j) S in e * h£ c | J a n u a r y 1 ©1 JJuj/t N o ' L ow J li y h /ita A sk Low S o u th e rn P a c C o —(C on tin u ed A 113V 11 110 113*4 H A T O 1st g 5 h in t g u . J 937 J -J | 1 1 2 ^ 1 : 3 ^ 1 1 1 2 ^ 113 i b u ll 113 ........113*2 113 C o n so l g 6 h in t g u a r . ..1 9 1 2 ' A O G e n g o ld 4 s m l g u a r .. 1921 A O 127 V F e b ’02 W a c o A N W d iv l s t g 6* ’ 30) M-N 129 V N o v ’04 i 29 V 120 V M o r g a n ’ s 1-a A T 1st 7 8 .1 9 1 8 ] A - 0 129 V O 121 122 V 122 122 1 st g o ld 6 s .......................1920 J - J 121 123 N Y T A M e x gu 1 st g 4 8 .1 9 1 2 ] A -0 104 V 107 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 89 Sale 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 no m v 110 V Oct ’04 Si u 105*4 1I O V 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 S ep ’ 0 4 1 ---1 1 0 9 . 110 ........ 109 109 S a b in e D iv 1 s t g 6 s ----- 1912 M S 103 10 6 ........ 103 J a n ’ 0 4 ; . 103 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 ........ 4 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 --| 87 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 L 1 0 V .......... 117 117 W e s t N C 1 s t c o n g 6 s . .1 9 1 4 J - J 51112V I * ? S A N A la See L A N 125 13 0 117 J ’ l y ’OiS p o k F a lls A N o r 1 st g 6 s . 1939 J - J 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 n o JL 1 s t cod g o ld 5 s ___ 1 8 9 4 -1 9 4 4 F -A 1 1 9 V .......... 118 O ct ’ 04 . . . . 1 1 2 V 1 1 8 V 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 T e x A N C See S o P a c C o T e x A P a c E D iv 1 s t g 6 s ..1 9 0 5 M -S 1 0 1 V .......... 1 0 1 V 101V si 100 102 119 V 911115 1 s t g o ld 5 s ............................2 0 0 0 J -D 119 V 1 2 o V 119 V 122 1 80 | 95 Sale 95 95 2 d g o ld in c 5 s .................... (?2000 M ar 98 L a D i v B L 1 s t g 5 s ........1931 J - J * 1 1 0 V .......... 109 V A u g ’ 04 - •- . 11 0 8 n o v 106 V N o t MU 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 . 103 V 107*4 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 9 6 V 17 91 95 Sale 95 1 86 95 T o l P A W 1 s t g o ld 4 s . . . . 1 9 1 ' J - J 95 90 9 0 V 90 V T o l S t L A W p r lie n g 3 V s .1 9 2 5 J - J 90 V 9 0 V 30 8 1 83 183 68 83 V Sale 84 5 0 -y e a r g o ld 4 s .................. 1950 A -O 84 95 v .......... 95 V S ep ’ 04 ___ T o r .R a m A B u ft l s t g 4 s ./t l 9 4 6 J -D 94 95 V 112 113 N o v ’ 04 ls t e r A D e l 1 s t c o n g 5 s 1928 J-1) l l o 1 0 6 V 113 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 10 6 S a le 105*4 U n P a c R R A 1 g r g 4s ...1 9 4 J -J 1 0 6 V 119, 100V 106 V R e g is t e r e d ....................... 194 J -J 1 0 4 V D e c ’ 04 ___ 100*s 104 V 1 s t lie n c o n v e r t 4 s .......... 1911 M-N l l i * 8 Sale l u o v 115 V 3797! 9 4 V 11 6 V R e g i s t e r e d ........................ 1911 M-N _ ____ 1 1 5 V N o v ’ Ol . . . . 96*4 H o V .......... 102 102 4 9 8 V 104 V O re R y A N a v c o n g 4 s . 1946 J -D 101 O re S h o r t L in e l s t g 6 s . . 1922 F -A 125 V S a le 1 2 5 V 125 V 23! 120 V 1 2 5 V 12 0 Sale 119 V 2 b 111 1 st c o n s o l g 5 s .................1 946 J - J i 20 120*4 4 s A p a r t i c i p a t i n g ___ 1927 F -A 10 3 V S ale 103V 104 86 90*4 104 V n o v .......... 112 U ta h A N o r 1 st 7 s .......... 1908 J - J D e c ’ 03 .......... 114 V A p r ’ U2 10 5 G o ld 5 s ................................1926 J - J U n i N J R R A C C o See P a R R , U ta h C e n tr a l See R io G r W e s U ta h A N o r t h See U n P a c ific U t ic a A B la c k R See N Y C ent e r V a l I n d A W See M o P ir g in ia M id See S o u th R y 110 ......... n o V a A S o u t h w ’ t 1 s t g u 5 s . 2 0 0 3 J -J 2 100V 110 110 a b a sh 1 s t g o ld 5 s ........1939 M-N 117*4 S a le 117 V 117*4 41 114 V i l 9 2 106V H I V 2 d g o ld 5 s .................... 1939 F-A n o l l i V 11 1 V 111V D e b e n tu r e s e r ie s A ........ 1939 J - J * ..........100 J ’ l y ’ 04 ___ 94 95 95 S e r ie s B ..............................1939 J - J 65 68 V Sale 68V 109S 56 70V .. 102 1 s t lie n e q u ip s fd g 5 s . . 1921 M -S 103 105 102 J a n ’04 102 D e t A C h E x t l s t g 5 s . .1 9 4 1 J - J 112 S ale 112 112 1 106V H 2 V D e s M o in D i v l s t g 4 s . . 1939 J -J 97 N o v ’ 04 90 97 Om D iv 1 s t g 3 Has............1941 A -O 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 95 95 V .......... 95 N o v ’ 04 S t C h a s B r id g e 1st g 6 s . 1908 A -O 1 0 1 V .. 109 V M a r ’ 03 W a r r e n See D e i L a c A W e s t W a s h C e n t See N o r P a c W a s h O A W See S o u th e rn 8 9 Sale W e s t M a r y la n d 1 st g 4 s . . . 1 9 5 2 A -O 89V 88 V 89 V 151 84 118 V N o v ’ Ol W e s t N Y A P a 1 s t g 5 s . . 1937 J-J 119*4 120 115 1 1 8 V G e n g o ld 3 -4 s ...................... 1943 A -0 95 V N o v ’ 04 . . . . 9 6 % ......... 93 96*8 I n c o m e 5 s .......................... <71943 Nov .......... 30 40 M a r ’ Ul W e s t N o C jir See S ou tl i R y W V a C e n t A P l s t g 6 s . .1 9 1 1 J - J 112 .......... 112 S ep ’ 04 111 112 W h e e l’ g A L E 1st g 5 s . . . 1926 A -O 1 1 3 * 4 ........ - 112 V N ov ’ 04 109 V 114 W h e e l D i v 1 s t g o ld 5 s . . 1928 J - J 1 lliU M kv’ ()4 J 13 n ov n ov E x t e n A I m p g o ld 5 s . . . 1930 F-A 1 0 9 V ......... 109 " A p r ’ 04 109 ‘ 109 ' . 100 103 2 0 -y e a r e q u ip s f 5 s ........1922 J -J ..........102 V 1 0 o v A u g ’ 04 1 s t c o n s o l 4 s ........................ 1949 M-S 93 94 94 57 36 94 93 W ilk e s A E a s t See E r ie W il A S io u x F See S t P M A M W is C e n t 5 0 -y r 1 st g e n 4 s . 1 949 J - J 92 S ale 92 92 V 44 S S V 9 3 V U V W M IS C E L L A N E O U S BON OS—C on clu d ed . l lii 11 Isict YL 11 r i n g A I n d u s t r i a l C o n so l T o b a c c o 5 0 -y r g 4 s . 1551 R e g is t e r e d ............................1951 D is til S e c C or c o n v 1 s t g 5 s . ’ 27 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 IfC ons F ir e w ’ k s co m .1 0 0 105 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 ................... C on s S to ra g e B a tte ry 100 107 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 H a v a n a C o m m e rcia l. 100 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 H e c k e r -J o n e s -J e w ’ l M ill 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 1 st p r e fe r r e d .............. 100 124 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 Ifos 1 9 1 0 ....................M -N H o u s to n O i l ..................100 P r e f e r r e d ....................100 169 L70 H u d s o n R e a lty ................... 200 I n t e r n a t ’ lB a n k in g C o lO O 94 98 I n t ’ n ’l M e r c M a r in e .100 62 67 P r e fe r r e d ....................100 92 96 C ol t r d e b 4 Hal922op,07 25 In te r n a tio n a l S a lt___ 100 76*2 77 1 st g 5 s 1 9 5 1 .................... I n te r n a tio n a l S ilv e r . 100 P r e f e r r e d ....................100 6 0*2 1 st 6s 1 9 4 8 ................. 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B o sto n & P r o v id e n c e LOO 2 2 2 136 148 J ’ n e lo 154 O c t 21 *151 153 3/148 C h ic J u n c K y < U S V 10 0 & I ! rlltfv* J ’ n e l5 126 D e o 6 a; 125 125 D o n rer ..........100 N o v ’ 04 C on & M o n t C la ss 4 100 180 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 56 D ec 6 •52 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 *8 4 .......... _____ 1 C 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, g c ® > * ■ m > s ** r t 9 W ® 9 s a S 9 s * 3 ^ 9 8 8 9 fc !» t ! 2 » g Q w P g s e g g w K Q s e g g s a f c g s B * o g ^ e g o © 5 S © g S © S « § 1 t K-W 1 j g-Q* M 5*0*9 5 g ’C £ g-OQ U fQ SOU 1 * • wv * ■ S < Kmm H » O 1 P O J 9 ► w • 3 3 <& B a -# »K s 1a « a '*13 2 2 3I P 0 1 & m * o* • * : a * 8 ; f y . 5 ? * i < ?* ; ? i ? i P i P i ” P : 7P i B i j T j l - i j ? j ! i ! 1 i f l l H l l ' l l l l ' ! ID II II ' ' |@ 1® ! « M N I ' II II II II II 1 ' Id 1© ! ® 1 i ii j °P°? 10 to w o» © <JO “?*? eb z q WCR IS *?°? 0o 0 II II II II 1 , 1 IS 1© 1« i i i 1 ii II ii II ii ii ii i © IS IS M || || II II || II || 1 1 1® 1© Id 11 II 11 II II II i i II i 1i 9 iI Ii 00 00 CC OO CC RR 1s 00 G O C 00 O 0? 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CO to tfs-M C O H p M p C O M M f i p p W tO p p p p M M W W w w cotfi, <1 0500 ^ C*<1CflVwbb-qT-*V oo05V © tO © 10a ® w'x 7 *-” C »O 6 l C0C0Xi05Q0OMMt0C0C0t0OOC0OO»-0iC005O05Q0C0O^*rf^05<3K)^i^ C5COCOtf^<IOOatf^OOlOTa>CO<JMtOOCO^QOCOtP>05COOOi<3«itO<|QO^.M to C O C O M H » to M C tO OlbO M MW C ^CJ»CO<I^COCOCO tOrfi.COM05 05tOOO^^JfcOM R OD jt p p p p p p ^ - « p H -M p p ^ q p < » O p p p p tfa p p M p p O M C if^HWyi O ^b»loVIolob5^b5b5^^ W 05^ OOc'lob)<jV5 03 C O O C to*- © O <1 rf^ 5 ^ -< 1 0 5 0 i< | O O M C O rf^ C O M O lC O < I < 3 C 7 lC O < ltf4-05M <J»f»-COCRCX)COOlOO>--COQOOl O M ^ 0 5 C 0 O C 0 0 5 C 3 C 0 C 0 C 0 X C 0 C » C 0 Q 0 O < IC 0 C 0 ^ C 0 < I C 0 ^ ^ -iit0 O 0 0 O t0 O D C O o to M M * to to C O C O O OI C O MW©J$^tf^C0b0© - 1 < 1 to JO C S O C OC «b0 i s © ojI o eo c ' o d OWOHO®KI®tOKll(‘ W H t*C«COO *'tJO®0"-,Oi- H^|(iMOOiW o w o K io co ^ co o w is-o tD i—ii^«a©<ocoaoK*iu®cotoosco>-*u&if».;otew o o ©<© © o 9 o o ©ob 00© s o o O' C» J 00© 1s 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. .430 ©cl< to© i m OO ©© woo 2649 3S 1 , op o 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. Ol S j to CO tO CO M t O O » ^ b O t O 0 0 © © © <1 M^>^ © M W M < lC J * b O bO M ^ *^ CCrf^C0<J M© ^ O W W O ' t 0 < | M M t 0 M C 0 0 0 * q ^ i C 0 < I O 5 0 0 C R C 0 O C R < i C 0 < l t 0 C 0 t 0 t 0 O 5 C 0 ^ 0 5 t f ^ V 'C 0 C O tOMCD<l<IO^OMCOM05MQOOWOa5^050lCOCOOlWOOlrf5kOlO't00505 ® <1 K > M p MH H * 8 *3 W as to Ol®l-*|fi.Ol|-‘ b0U0l-‘ ©M p|i.aDH*,-‘ W i& J5U U U P « 0 <1*. > u ® OIW a S’ ® »C > -* > ■a ® i - « V ® < l ’o 5 w ^ ^ l o l o c o a i ' o < I < I O C » O l O ® OD M I f - t i i ' t o ® l o c * U ) ® : C t O < t O i W f f i ® O l ^ l - ‘ lfi.® a)O D tO C K )O O tO < J O O t.O ltO lP -® tO ® ® ® O ® O O ® C i5 H 3 0 C n t0 0 0 ® W K i-< lC B O ® *a W t5 W t0 lf> .C D i^ .t0 W 0 0 ^ lS -i-O l MW 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 ® S8 3 I * J* I P • | » « » * . • * • * CO V j fcO h * tPk h * O © G 0 tf^ * -i -si c » OJ -JD QO © ©© w ! bn © to ! ooco H GO 05 GO t o ^ W h OJ iHQD 00 00 H* © © 2 Q fg IP.9 o 5 tsM: 4* s?; ■ - ^ — • .— i > \ ©• to i ®; ; &■ • l ® .s • 0 1Q E ** 3 , ©r f ^ CO © © g 99 J jS - O 2 M i We cnen <5w 3 ©^ H* b»b o 00 - J to cn I <100 M* © © C* CO © © © V <& at © to V OO© 00 O D © Q O zjl <1 Ne w Y okk C e* L, 5S T ©? p: © ■ ®“ © * 2P : . . i D . < 2-4 00 Cn © © © © © I 05 M to cn I bobo cole < 3 00 cntca<j<j>u <1 I O ' © »-• »-• ^^H O Q O V co'to'co'bi -4 w © to © >4 < I i**»a 1 ^ I © 00 f M * to M M © © CJ»© © © CO M <1 O ' tf^ C C O O © r -C B W ^ H K) CO O K I CO w-CQ o o b » © © © !-* © © <1 ©CO M tO «PfcCn CO© ao© © <1 H* 10 0 Ol C O 0 - © W M Q O l^ -s| - s i © © t o CO tOODIO © 05 W 00© <1 CO rGO 0* GO 0 HHCO © O •D a to w © © r <1 <1 C* 00 00 CM <1 to P © CO 00 -1 U«50 0 © < ic n © © G o © M C to * o COW £ > j h-To 10C © ■© O © to <i 00^ j <Wvppap> cob* ^ n O© M CO co cn co m to bO *~ © <t O * j to <i m * ; CO M CO tO <1 <1 0 3 0 <1 CO 05 CO - - 00 01 CO ts> O ' CO i o —• 00 © o c o co'©b-* bo© CD j O l CO 'J lH 'I t O H CO l c n I Cn 00 © © W 01 at c o © . © t o 05 co Q tf^ 0<l© 0 t ©Vb-©H ^4coa»©<s«e G - O C epW H O © zr <jb>bi toot 1 © m * tO <2 C O ©I 00< O © -* J 4 a to-Mto o < J \ Q C C 5', O t O < l ' < © C © K< 1 C )1 C C O' O O C O rM cn ao .p. c o 00 05 'J — cn Cn M © © © © to © H© •4 05 Iq b -a c K O - 1 <1 CO ' O © © cn ~ © © O*C0 M *© a © b <1 w © to ©a* 00-4 1 C i 01< O Oi — V coV eooo © O 0» cq O ^p<lw O cn © bn < j!o n o o m oD CO ^ C K Ji cn cn © © <3 © < j to © C » 0 ^ -0 5 CO © O ^ CO © O 1 Ck^OiOCk C 00 M* to rfk © < i c n <J © '' © t o © 00 © rfA * to to 05 O* ©S* ^©aotocn ©©©a»© © Ip o | To ’ O to t ^ cnbj< joo H i ?r O D i^ W H H <1 Oi t o CO < ! *-• rfi. CO CO CO !»■ O ' <1 © H C ^ O O »M O <> O£ * M tO CO © M W m*W©0D , <5 C 3 V o c> t 0-1 C I to O H* CO ' V J U I H W M > 05© 0 L o h bobob’bow * © CO CO GO © l O ’ r * — -4 i 0-1 00#*<lt0 © co to ; jo j o a*-4 © - hV ooow to to I ©a> cr ©H* to j w o n a n to© coo©oo^ t o © * ojV w h m to • a* *0 — <1 cn © h - t o cn 0C cn to ^ © © bn © to cn cn - J © *-* © cn r-4 © H* M <1 © <1 *-* t^© OC - 0 © © CO © <r CO - CO co © B ^ tO ^ C O 0 0 # > JIM © © PW N JM c o o*- cn © © cn ifi- t o OD CO OOCOQDifs r - « H* © © t-* ^ © < J0 cn © ro +> to to cn m C5 X m* ’© © ^ to cn cjc © - ’ © 00© cn - a ^ ^ <1 GO CO M cn Pis Ms coa os- .»(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.