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Quotation Section
Railway Earnings Section
Copyrighted in 1910, by WILLIAM
Entered at N. Y. Post Office as second class tail
B. Dana COMPANY, New York.
NEW
VOL. 91.
gtasucixl.
ffinanctal.
TRUST
THE FARMERS’ LOAN &
COMPANY
Harvey Fisk & Sons
YORK
NEW
BANKERS
Fmign Exchange, Cable Transfers,
Letters of Credit, Payable through¬
out the world
Tie Company la a
local depositary tor
and Is authorAdministrator,
Trustee. Guardian, Receiver, and
ether fiduciary capacities.
Acta as Trustee under Mortgages
•
In all
made
by Railroad and ether Corporations, and
as Transfer Agent and Registrar of Stocks
and Bonds.
Receives deposits upon Certificates of
Deposit, or subject to check, and allows
interest on dally balances.
Manages Real Estate and lends money
an bond and mortgage.
Will act as Agent In the transaction of
approved financial business.
Depositary for Legal Reserves of State
Banks and also tor moneys of the City of
any
New Turk.
Fiscal Agent for States,
dittos.
Counties and
19-22 WILLIAM STREET
475 FIFTH AVENUE
and
Municipal Bonds
The National Park Bank
of New York
Organized 1856.
$5,000,000 00
12,550,163 20
99,481,680 hi
Capital
Surplus and Profits
.
.
.
RICHARD DELAFIELD.
President.
JOHN O. McKEON.
Vice-President.
JOHN O. VAN CLEAF,
GILBERT G. THORNE.
Vice-President.
Vice-President.
Cashier.
PARIS
LONDON
WILLIAM O. JONES.
WILLIAM A. MAIN.
Aset. Cashier.
Asst. Cashier.
FRED’K O. FOXCROFT. Aset. Cashier.
BANK
NATIONAL
INVESTMENT SECURITIES
PHILADELPHIA, represented by
JAMES H. CHAPMAN. 421 Chestnut St.
CHICAGO, represented by D. K. DRAKE,
218 La Salle St.
BOSTON, MASS., represented by
JOHN B. MOULTON. 35 Congress St.
Deposits Nov. 10,1910
LIBERTY
THE
Railroad
Government,
MAURICE H. EWER.
NEW YORK
matter.
NO. 2372.
YORK, DECEMBER 10 1910.
3P«umci»L
moneys paid Into Court,
toed to act as Executor,
Electric Railway Section
State and City Section
Railway & Industrial Section
Bankers’ Convention Section
Bank &
OF NEW YORK
ISI BROADWAY
N. W. HARRIS A CO
BANKERS
Corner Wlllitm
Pint Street,
NEW YORK
35 Federal
St.. Bostaa
Reoelve deposits subject te shack
and allow Interest on balances.
Act
as
palltles
letters
fiscal
and
of
agents for mualeftcorporations. Issue
credit
and
la
deal
BONDS FOR INVESTMENT
LIST ON APPLICATION
Members ef Richmond and Baltimore Stock
Exchanges.
John L. Williams & Sons
Edward B. Smith A Co.
BANKERS
THE
Com* fth and Main Struts
MECHANICS AND METALS
RICHMOND, VA.
Baltimore
NATIONAL BANK
Correspondents:
MIDDBNDORF, WILLIAMS A CO.
Comer 9th Ave. and SSrd St.. New York.
Capital,* 1.009,900
ltsohangi
N. B. Cm. Broad * Chestnut Sts..
Capital,
Surplus,
-
-
-
-
$6,000,099
6,000.000
PhflaMphts
ST Pine Street. New York
Surplus, $1,000,090
Chase National Bank
Clearing House Building
ORniNAL CHARTER 1829
THE
Francis Ralston Welsh,
GALLATIN
BONDS
NATIONAL BANK
Dep., 196.750,178
A. B. HEPBURN. President
A. H.
SECURITIES
Members New York and Phlla. Stack
RUBL W. POOR. President
JAMES MoCUTCHEON. Vice-Pres.
WILLIAM L. DOUGLASS. Cashier
ARTHUR W. SNOW. Asst. Cashier
Ca». S Surp., SIS.70S,779
INVESTMENT
83 Wall Street
GARFIELD NATIONAL BANK
Fifth A ream Bo tiding
BANKERS
Wlggln. V.-Pres. C. C. Slade. Asst. Cash.
I. H. MMer. V-Preo.
E. A. Lee. Asst. Cashier.
S. N. Conkey, Cashier. W. E. Purdy. Asst. Cash.
A. C. Andrews. Asst. Cashier.
OF RAILROAD. GAS AND ELECTRIC
OF THE CITY OF
NEW YORK
LIGHT AND POWER COMPANIES
109-111 SOUTH FOURTH STREET
PHILADELPHIA
Capital
.... $1,000,MR
lorplna aad Profit. <«an«d>
8,440,000
OFFICERS
THE
EQUIPMENT OF THE
FOURTH
NATIONAL
BANK
OF THE CITY OF NEW YORK
—CORNER NASSAU AND PINE
STREETS— IS
ESPECIALLY
ARRANGED FOR HANDLING
MERCANTILE ACCOUNTS.
First National Bank
of
SAMUEL WOOLVERTON. President
ADRIAN ISELIN JR., Vice-President
GEORGE E. LEWIS. Cashier
HOWELL T. MANSON, Aset. Cashier
Philadelphia
315 CHESTNUT
[[ACCOUNTS
STREET
INVITED
DIRECTORS
Peabedy
Adrian Iselln Jr.
Chas. A.
Frederic W. Stevens
Sam del WooJverten
Alexander H. Stevens
Charles t±. Tweed
W. Emlen Roosevelt
Thomas Denny
THE CHRONICLE
[VOX..
T.TTTTTI-
MxafotKf attft gKawcKS at Sfincttfitt g»cturoge.
J. P. MORGAN A CO.
DOMESTIC AfiD FOREION BANKERS
Wall Street Corned of Broad
Maitland, Coppell & Co., Kidder, Peabody & Co.,
62
WILLIAM STREET
MEW YORK
DRIXEL St COn
116 DEVONSHIRE
NEW YORK
PHILADELPHIA
Cornar of 5 th and Chtitnuf. Struts
66 WALL
Orders executed for all Investment
Securities.
Act as agents of Corporations and
negotiate and
issue Loans.
H ORGAN, GRENFELL & CO, LONDON' BIBS of Exchange,
No. 22 Old Broad Street
Telegraphic Tranefert,
HARJEsT
11 Boulevard
&
CO.,
PARIS
Cable Transfers
OfceulAr Litters for Travelers available in all parts
of the world
Brown Brothers & Co.,
BOSTON.
59 Wall Street
ALEX. BROWN A SONS. BALTIMORE.
Connected by Private Wire,
ft. Y., Phlla., Boston A Balt. Stock Exoh's.
Buy and sell Ont-das# Investment Securities on com- I nuPCtm
pnf
minion.
mission,
Receive aooounts *“ » CollllClll
•f Ba<
INVESTMENT SECURITIES.
f
JLfCllCrS
Buy and sell Bills of Exchange
end make cable transfers on all
of Credit
Lull all parts of the world.
Bank.
Limited.
& CO.. LONDON
27 Pine Street, New York
BARING
BROTHERS
August Belmont & Co.,
BANKERS.
No. 22 NASSAU STREET.
Members New York Stock Exchange.
Letters of Credit for Travelers.
DRAW BILLS OF EXCHANGE AND MAKB
for Travelers
TELEGRAPHIC TRANSFERS OF MONEY TO
Available iu.all part*of the world.
EUROPE AND CALIFORNIA
Draw Bills of Exchange and make
Telegraphlo
Transfers to EUROPE. Cuba, and the
other West Indies. Mexloo and.California.
orders, for the purchase and
Bonds and Stocks.
sale of
SeUgman Brother* London
SeUgmqn Ereree A (Jk., Pftrie
Aleberg, Goldberg A Go- A*
The Anglo and London - Pmrio
Bank of San Erandeco, OaL
Graham, Vaughan & Co.,
Pin* Street, N.w York.
Ktahmmd&Co.
BANKERS
INVESTMENT SECURITIES
BANKERS
S1-8S Pina
MEMBERS NEW YORK STOCK EXCHANGE
Exchange
lowed on
received subject to draft,
draft.
Interest
lot
al¬
Securities bought and |Q|d on
deposit**
&
London Bankers:—London Joint-Stock Bank.
Limited.
Paris Bankers:—Heine & Co.
Bills of
Exchange and Gable
Deposits received
ou
to ehenae
deposits.
Members New York Stock Exobange.
Securities bought end sold on oonamlsslea
Act ee Fftsoei Agents.
Lists upon application.
NEW YORK
Produce
BANKERS
BeesMRs Received Subject to Draft. Interest
Allowed ou Deposits. Securities
Bought and Sold on
Commission.
Exchange Bank
BROADWAY. Coraor BEAVER ST.
Capital
Surplus earned
Foreign
foreign Exchange, Letters of Credit
Exchange
-
$1,000,000
506,000
-
-
bought and
Graham & Co.
sold.
Cable
Transfers.
Commercial and Travelers' Letters of
Credit available in all parts of the world.
BANKERS
486 Chestnut Street
ACCOUNTS INVITED
PHILADELPHIA
Kean, Taylor & Co.
HEIDELBACH, ICKELHEIMER & CO.
BANKERS
87 William Street.
BANKERS.
General Foreign and Domestic
Execute orders for purchase and sale of
Stocks and Bonds.
Dealers in Investment Securities
Issue Commercial and Travelers’ Credits
available in all parts of the world.
BOSTON
Letters of Credit for Travelers
Oommerctat Credits.
Foreign Exchange.
Cable Transfers.
MONROE & 00., Paris
Municipal Benda.
Railroads, Street
MEMBERS N. Y. STOCK EXCHANGE.
Foreign Exchange Bought and Sold.
John Munroe & Co.,
and
of
of established value.
-
PINE STREET, NEW YOQK.
Government
Securities
Railways and Gas companies
Banking Business
su
subject
Interest alio wed
a-
BZT YOBS
t
i
Dealers In High-Grade Investment i
69 OEDAB STREET
wnw YORK
hf
Cablet “Mimota/
of
avi
64-66 Wall Street, New York
Central America and Spain. Make collections In and
Issue drafts and cable transfers on above countries.
a
Street, New York
024 Fifth Ave.. N.
Letters
Bankers
of the New York Stock
Tfaasact
Nottonm
•07 Chestnut Street* FWtoMahle.
SECURITIES
30
YORK
Available in all Parti ef the World
London* Rafis and Vienna.
Execute
•#
BANKERS
Lawrence Turnure & Co.
I
LTD
Seligman & Co
NEW
Issue
ISSUE LETTERS QF CREDIT
INVESTMENT
Winslow, Lanier
OO.
Buy and Sell Investment Securities
Agents and Correspondents of the
Messrs. ROTHSCHILD.
BANKERS
item!
A
LONDON
J. & W.
44
TMLER&GD
Correspondent, of
Branches,
^1
BROWN, SHIPLEY
LETTERS OF CREDIT
TRAVELERS’ LETTERS OF CREDIT
Available throughout the Baited States
Sp^ndivpiuejs Securities
favorablei terms. Collect
drafts drawn abroad on all points In the United
States and Canada; and drafts drawn in the United
States on foreign countries. Including South Africa.
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT,
-xe
FOREIGN EXCHANGE.
Smiths
Agents for the Bank of Australasia, the British
Guiana Bank. Demer&ra, etc., etc.
_
sn
&
And its
Deposits
Foreign Exchange, commercial Credits
done,
London
r*"M
BANKERS
Messrs. Mallet Freres & Cle., Paris,
Banco Nacional de Mexico
Interest allowed on
NEW YORK.
of
London.
Hauwmapn
Deposit! received subject to Draft
SeoorUies bought apd sold on Commission
PHILA.
Union
STEEET, HEW Y9EX
ii
on
MORGAN,
STREET. BOSTOH
Schulz &
Ruckgaber,
Act
as
Fluanotel Agents
Issue Foreign end Domestic Lethe* •*
Credit and Travelers* Cheeses
Knauth, Nachod&Kiihne
BANKERS.
15 William Street,
Members New
-
York
-
Stook
-
-
BANKERS
New York
Exobange.
Correspondents of. Messrs.
Fruhllng de Goschen, London.
Bereuberg-Gossler & Co., Hamburg.
John
Marcuard. Meyer-Borel A Cle., Paris.
Bremer Bank Flllale der Dresdner
Bank,
Bremen. '
Issue Commercial & Travelers’ Credits.
Buy and Sell Bills of Exchange.
Cable Transfers A Investment Securities
NEW TORE
LBITSla, (HERMAN?
Members New York Stook Exchange.
INVESTMENT
SECURITIES
Deo. 10
1910.]
T5P CHRONICLE
W
Sankevs.
iimlttK*.
Millett,
Lee, Higginson&Co.
BANKERS
Wm. A. Read & Co.
BOSTON
HIGGINSON & CO.
Prince'* StrMt,
I Bank Building*,
LONDON, E. C.
New York
i
n
r
\
BANKERS.
Daalara In
Members New York, Chioago and Boston
Stock Exchanges.
HIGH-GRAPE BONDS
Chicago
New York
IS Wall Street
Members New York Stock
j
Ezckange
Investment Securities
H Battan* IS Confrtts Straat
25 NASSAU STREET,
NEW YORK
Plympton, Gardiner & Co*
BOSTON
BALTIMORE
N. W. HALSEY & CO,
CHICAGO
Bonkers
LONDON
York *nd Chicago
Stock Exchangee
Mem ben
BONDS FOR INVESTMENT
»
>•
■ ■■
Interest Allowed on Deposit Aoooants
Conservative Investments
Fiscal Agents
for Cities and Corporations
LISTS ON REQUEST
27 William St.. New York
54 Old Bread Street,
LONDON, E. C.
H2 La Sail* Street,
CHICAGO
Rhoades&Company
40
Wall Street, NEW YORK
Philadelphia
Chicago
8an Praaciaca
BANKERS
45 WALL STREET.
NEW YORK
aa WaD Stml
NEW YORK
■*
'“V'-'f
Members K. Y. Stock Exchange
HifMJnh inis
Trowbridge
& Co.
BAltKEBS
Members New York Stock
Exchange
Stats. Municipal
Railroad
and
■
Members New York Stock Exohange; Execute
Commission Orders; Deposits reoedved subject to
dish.
Draw Bills of
Throughout the World
111
YOR£
NEW HAVEN
Broadway
134 Orange St.
t
*
* c*
•
% 'i1
r/'T,
BANKERS
brother? & Co.
BOSTON
'
NEW YORK CITY
.ad othar MUHICIP.4L BO»Df
Member. Mew Tork a Boetoo Stock EzokongM
s.--.',V-
•
Vtoh.
v
Tel. 6470-I-t Hsaevm
Dominick Bros. & Co.
BOSTON
49 WALL STREET. N. Y. CITY.
Members New York Stock Exchange.
COMMISSION BROKERS
>
•
Commercial and Travelers9
Letters of Credit
Issue
COMMERCIAL PAPER
INVESTMENT SECURITIES
•
f^lnoii and make Cable
Cable Addrem. Domlao. N. Y.
Execute orders for purchase and
sale, of
Stocks and Bonds
Bay and Sell Foreign Exchange.
CABLE ADDRESS. "COLDNESS”
14 State Street,
NEW YORK
'
Goldman, Sachs & Co.
CHICAGO
Exchange Place.
">
Istuo Letter* of Cndif tor Travelers, avattable in ail parts of the wo rld.
Members of New York 4 Chioago Stock Exchanges
•S
,'.t
Maxioo.
~t
«0 WALL STREET. NEW YORK
Blake
liT
Transfort It Eurw. Asia. Australia. tha
Watt Indlas, Central and South Amerle and
HARTFORD—SC Pearl Street
i
«*.
Cor. of Wall and Brand Sts.. MfV
Travelers’ Cheeks
Available
it sit
n
H. B. HOLLINS & CO.
Letters of Credit and
Bonds and Stocks
NEW
RAILROAD AMD PTK*R
ntVRSXXRHT lEOURITIKS.
Available la all
OFFICIAL
QUOTATION SHEET WILL BB SENT
REGULARLY ON REQUEST
pprtf of the w«c|d.
DEALERS IN
gRVBWMeVM
jCatminlfiaa
O fvIlrvlffS
wmA
iffa itta at a rof m I
SB"fw
vwmifieivPUf
T*aiaa
mm
Wollenbergor & Go.
BANKERS
Zimmermann & Forshay
BANKERS
f and U Wall Strpet. New Yoffc.
BOISSEVAIN & CO.
JMsmtors Ntw York Stock Ezchmngo.
24 BROAD STREET.
Specialists la
Foreign Government Bond*
Correspondence invited.
2M La Salle Street
-
-
CHI CARD
Orders executed for stocks and bonds for Invest¬
NEW
YORK.
tT'
*
t
ment or en
margin.
Adolph Boissovale & Co..
Am tier deal. Holland.
TRANSACT A GENERAL BANKING AND
STOCK EXCHANGE BUSINESS.
LEONARD If. tlOh r
BIRD 8. COLBR
Members New York Stock Exohange.
FereigB Eickaife Beaprt aat Salt
W. N. COLEI) & CQ.
tetters ef Credit tssaed
BANKERS
Cable
Transfers
to
all
Parts of
the World.
43 CEDAR ST., NEW Y9RK
INVESTMENTS
BOND & GOODWIN
BANKERS
Corporation and Collateral Loans
Commercial Paper
alao
anrxsTMENT sboueitubs
CRIMP, MITCHELL i SHOBER
BANKERS
1411 Chestnut
Si Congress St
BOSTON
111 Broadway
J:i tNOW YORK
134 LaSalle St.
CHICAG9
Philadelphia
Members New York and Phlla. Stock Exchanges
t
Mom bon New York Stock Exchange
and Boston Stock Exchange.
St
New York Cotton Exohange
Investment Securities
Shoemaker, Bates & Co.
BANKERS
York Stock F.TQhaigo
York Cotton Biehwgt
luaicago iStock Exchange ▼ ew
ew
i|n
\ci
Chicago
Members!
INVESTMENT SECURITIES
37-43 Wall
$freef. New York
SOS Fifth Aye.. New York
n
THE CHRONICLE
fVOL.
gawctgu.
LXXXX1
CxihUHsk.
DEUTSCHE BANK The Union Discount Co. BANK OF MONTREAL
(EittHM HIT)
BERLIN W
of London, Limited
CAPITAL p«id in
$14,400,000 00
BehrmstrasM • to IS
-
39 CORNHILL.
Tetegraphle Address. Udlsoo, Lendea.
CAPITAL
If. 2S0.00S.S0S.
RESERVE
f47.flt.0S0
Capital Subscribed
Paid-Up
f2f.172.S95
Reserve Fond
If. 1S5.726.164.
57.500.909
2.750.000
2.900,000
NOTICE
IS HEREBY
GIVEN that the
RATES OF INTEREST allowed for money en
deposit are as follows:
At Call, 3 Per Cent.
At 3 to 7 Days' Notice, 354 Per Cent.
Brandies:
BREMEN.
DRESDEN. FRANKFORT-O-M.,
HAMBURG.
LEIPSIC.
MUNICH.
NUREMBURG, AUGSBURG.
WIESBADEN,
BRUSSELS. CONSTANTINOPLE
,
NEW YORK OFFICE,
CHRISTOPHER R. NUGENT, Manager.
City &
Midland Bank, Limited,
4 George Yard. Lombard St..
LONDON, E. 0.
HEAD OFFICE
5 Threadneedle Street. London. England.
BUNCO ALEMAN TRANSATLANTIC!)
With
(Deutsche Ueberseeisohe Bank.)
SUBSCRIBED CAPITALM. 30.000,000.
PAID-UP CAPITAL
Telegraphic Address: Cinnabar, London.
RESERVE FUND...
SUBSCRIBED
CAPITAL, $96,741,700
CAPITAL, 19,946,187
RESERVE FUND,
17,951,668
PAID-UP
(f1.625.000)
0.827.000.
HEAD OFFICE
Sir EDWARD H. HOLDEN. Bart..
Chairman and Managing Director.
BERLIN
Kanonlerstrasse 29 to 20.
Branches:
ARGENTINA: Bahla-Blanca. Buenos
Cordoba, Mendoza. Tucuman.
Handel8-Gesellschaft,
BERLIN, W.,84
Behrenstrasse 32-33 and Franzoelsche-Strasee 42
Drafts, cable-transfers and letters
of credit issued.
London Agents
DEUTSCHE BANK (BERLIN) LONDON AG’Y
GEORGE Y’D. LOMBARD «T.. LONDON. E.C.
ESTABLISHED 1656
Capital, Reserve,-
ESTABLISHED 18S1
-
-
-
.
M. 34,600,000
Place American Investments in
Swiss Bankverein
Schwaiserlschar
Bankverein
Bankverein
Suisse
Baslt, Zurich, St Gail, Geneva
$40,476,200
Agencies at Rorschach, Chlaaso and Herlsau
$14,307,764
LONDON OFFICE, 4S Lethbury, E. C.
90.092,611.
With the unlimited personal liability
Of the JoUowin§ partners:
E.
F.
RUSSELL.
URBIG.
Capital paid
Surplus,
HAMBURG.
WITH BRANCHES IN CHILE
(BANCO DE CHILE Y ALEMANIA). ANTOFA¬
GASTA. CONCEPCION. SANTIAGO. TEMUCO.
VALDIVIA, VALPARAISO. VICTORIA; AND
IN BOLIVIA
DE
CHILE
Y
MANIA^SECCION BOLIVIANA), LA
ALE-
PAZ
LONDON AGENTS:
DIRECTION DER DISCONTO-GESELLSCHAFFT 53 CORNHILL, E. O
Frs.22,500,000
Discount
35
CORNHILL,
....
LONDON.
Paid-up Capital
E.
C.
521.166.625
4.233.325
2.200.000
NOTICE
IS
HEREBY GIVEN that the
RATES OF INTEREST allowed for money on
deposit are as follows:
_
Hong Kong & Shanghai
BANKING CORPORATION
Paid-up Capital (Hong Kong Currency)
315.000,006
Reserve Fundiln Gold...513,000.0001
31,000,000
\In Stiver.. 16.000,000/
Reserve Liabilities of Proprietor!
15.000,006
GRANT DRAFTS, ISSUE LETTERS OF CREDIT,
NEGOTIATE OR COLLECT BILLS PAYABLE IS
CHINA, JAPAN, PHILIPPINES, STRAITS SETTLE¬
MENTS, INDIA.
WADE GARD’NER. Agent, 36 Wall St.
Wiener Bank - Verein
ESTABLISHED 1369
-
525,342.095
-
(180.060.000 crowns)
Cable Address—Natdls: London.
Subscribed Capital
Europe
Tel. Addrcaa, Vooo.
Codes: Hartfleld’a Wall St.. W. U. A Lie bat.
CAPITAL (fully paid)
(35= £1 STERLING.)
M. 10.000.000 00
(BANCO
National
Frs.75,000,000
Reserve Fund
Deutschland
CAPITAL
.
Company, Limited
CAPITAL.
Bank fur Chile und
up,
....
Brasilianische Bank
The
fUr Deutschland
M. 19 009.000 00
Head office: HAMBURG.
Branehes: RIO DE JANEIRO. SAO PAULO.
SANTOS. PORTO ALEGRE, BAHIA.
MONTREAL
THE HAGUE, HOLLAND
HOCHST-o-M.. HOMBURG ▼. d. H..
POTSDAM, WIESBADEN,
S3 Corn hill.
6 King St.. W.,
TORONTO. CAN.
VAN OSS & CO.
BERLIN W„ 48-44 Behrenstrassa
BREMEN. FRANKFORT-o-M.. MAINZ.
LONDON. E. C..
St.,
LONDON. ENG.
fportjeijgtt*
M. 110,000,000
-
46 Threadneedle
W. Graham Browne & Co.
Banking Transactions of Every Description
Disconto-Gesellschaft,
A. SCHOELLER.
I
M. SCHINCKEL,
Dr. A. SALOMONSOHN.
YORK OFFICE, 63 and 65 Wall St.
W. M. RAMSAY.
\Agents.
C. J. crookalL )
155 branches In the Provlnoes of Quebec, Ontario;
Manitoba, Saskatchewan, Alberta and British
Columbia. Good facilities for effecting prompt
cellections in Canada. Buy and tell Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
elers’ Credits available In any part of the world.
London Agents—The Land an Joint Stk.Bk., Ltd.
Canadian Bonds Bought,
Sold and Appraised
Telegraphic Address—Handslschaft, Berlin.
Direction der
M.
56.000.995
4.602,157
-
WOOD, GUNDY & CO.
Berliner
advanced upon.
-----
HEAD OFFICE MONTREAL
CAPITAL
Rest and Undivided Profits
MUNICIPAL AND CORPORATION
Bills sent for collection, negotiated or
RESERVE
throughout the Dominion af Canada.
London Office. 47 Threadneedle St.. E. C.
F. WILLIAMS TAYLOR. Manager.
Canadian Bonds
URUGUAY: Montevideo.
■PAIN: Barcelona, Madrid.
M. 170.000,000.
and Cable Tranrters; grant Commercial and Trav¬
eler!’ Credits, available In any part at the world:
Issue drafts on and make collections In Chloago and
Aires,
BOLIVIA: La Pas. Oruro.
OHILI: Antofagasta, Concepcion. Iqulque, Osorno,
Santiago. Temuco, Valdivia, Valparaiso.
PBRU: Arequlpa. Callao. Lima. Trujillo.
-
f Agenta.
NEW
ESTABLISHED 1836
(15.357.000)
R. Y. HEBDEN,
W. A. BOG.
J. T. MOLINEUX
Merchants’ Bank of Canada
Branches In all the Principal Cltlea and
Towns of England and Wales.
(f7.142.000)
M. 22.500.000.
64 WALL STREET
Buy and Sell Sterling and Continental Exeh&nga
The London
Dontsche Bank (Berlin) London Agency
CAPITAL, fully paid,
Head Ollie.—Montreal
Rt. Han. Lord Strathcaaa and Mount Raya],
Q. C. M. G.. Q. C. V. O.—Hosorary PraaMant
R. B. ANGUS. Prealdent.
Sir Edw. Clouston. Bart.—V.-Prea. A Gen. Mgs
The Company discounts approved bank and
mercantile acceptances, receives money on de¬
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
and the
M.
UNDIVIDED PROFITS,
f5" £1 STERLING.
Dividends paid during last tan jean:
SIS 11. 11. 11. 12. 12. 12. 12. 12. 12 H P«r oent
12,000,000 00
681,661 44
BEST,
At Call, 3 Per Cent Per Annum.
At 3 to 7 or 14 Days' Notice, 3/4 Pw Cent.
Approved bank and mercantile bills discounted.
Money received on deposit at rates advertised
from time to time and for &x*d
periods upon
specially agreed terms.
Loans granted on approved negotiable securities
PHILIP HAROLD WADE. Manager.
RESERVE FUNDS
-
-
-
(39,000.000 crewns)
$7,900,0#!
HEAD OFFICE VIENNA (AUSTRIA)
Branches in Austria-Hungary
Agram, Auseig a-E., Bieiitz-Bieia,
Brunn, Budapest, Carlsbad, Czernewitz, Friedek-Mistek, Graz, Innsbruck
Klagenfurt, Krakau, Lemberg, Marienbad, Meran, Pilsea, Prag, Przemyai,
Prownitz, St. Poitea, Tarnow, Tepliti,
Teschen, Viilach, Wr. Neustadt.
Branch in Turkey
Constantinople
Deo. IB
V
THE CHRONICLE
1*10.]
9*tt1uvs.
©anadiau.
THE CANADIAN BANK
OF COMMERCE
HEAD OFFICE.
110.000.0*0
• ,000.000
PAID-UP CAPITAL
SURPLUS
NEW YORK OFFICE:
Nos.
16
Mackay & Co.,
TORONTO
AND IS EXCHANOE
and C. D. Mackintosh,
Wm. Gray
Edward Sweet & Co.
PLACE
Agents
Continental Ex¬
Commercial and
made at all points.
business of every <1©-
Bay and Sell Sterling and
change and Cable Transfers,
Traveler’s Credits, Collections
Members N. Y. Stock Exchange
Bankers & Brokers
Members of the New York
Stock Exchange. Dealers in
High-Grade Bonds and other
Securities. In¬
allowed on deposits.
Investment
Banking and Exchange
oOpttoa transacted with Canada.
LONDON OFFICE—2
BANKERS
34
Lombard Street. E.O
terest
PINE STREET
NEW YORK
BANKERS IN GREAT BRITAIN.
The Bank of England.
The Bank of Scotland.
Lloyd's Bank. Limited.
Union of London and Smith's Bank. Limited.
National
City Bank Building
55 Wall Street
ESTABLISHED 1804
NEW YORK
The Bank of
British North America
Established In 1826
Incorporated by Royal Charter In
1840
ESTABROOK & CO.
£1.000.000 Sterling
£620,000 Sterling
Paid-up Capital
Reserve Fond
Head Office:
ft Graoeohurch Street, London, E.O.
New York Office: 52 Wall Street.
H. M. J. McMICHAEL.lAgents.
W T. OLIVER.
J
Boy and sell Sterling and Continental Exchange
and Cable Transfers.
Grant Commercial and
Ttavelers’ Credits, available In any part of the
Issue Drafts on and make Collections
world.
m all parts of the United States and Canada
BANKERS
Light, Power and Street
Railway Enterprises with records
of established earnings
Eleotrlo
Members New York and Boston
Stock Exchangee
INVESTMENT SECURITIES
15 State Street*
24 Broad Street*
BOSTON
-
Proven
J. J. REED,
President.
Vice-President.
A. H. B. MACKENZIE. Manager.
HON. LIONEL G. GUEST. Sec’y-Treasurer.
CO.
R. L. DAY
37 Wall St.
35 Congress St.
NEW YORK
BOSTON
HOSMBR
Capt. D. C. NEWTON (Montreal)
C. B. GORDON
(Pftid-Up Capitii and Surplus. $4,906,00#
71 BROADWAY
BANKERS
Members New York and
Boston Stock Exchanges
Members of the New York Stock Exchange
Colored. Series*
COLORADO
Canadian
Investment Securities
CORRESPONDENCE SOLICITED
Tucker, Anthony &
DOMINION SECURITIES
CORPORATION, LIMITED
94 BROAD BT»
NEW TORE
M STATE 8T„
NEW
NORWICH
BEDFORD
Members Boston and New
Exchanges.
SIMON BORG & CO.,
York Stock
BANKERS
Member* of
No.
Investment Securities
35 Congress
LIMITED
Trustees-Transfer
Agents
BOND DEPARTMENT
MONTREAL
New York
HIGH-GRADE
INVESTMENT SECURITIES
BERTRON, GRISCOM & JEHUS
Alfred Mestre & Co
BANKERS
BANKERS
Corporation Bonds
CANADA
HANSON BROS.
40 WaR Street.
NEW YORK.
Land Tide Building.
PHILADELPHIA.
H. AMY & CO.
BANKERS.
Canadian Investment Securities
Send far amt edreulnr driwi Srf ifli
-
SL* BOSTON
INVESTMENT SECURITIES
8t. Jansen Street
New York Siock Bxchanga
20 Nassau Street
HUNT & CUSHMAN
INVESTMENT TRUST CO.
London
BNQLANO
Electric Power Securities
Co.
London, Eng.
THI
24 Broad Stract
NEW YORK
BANKERS & BROKERS
BOSTON
Canadian
NEW YORK
WILLIAM P. B0NBRI6HT & COMPANY
Municipal and Railroad
MONTREAL
Montreal
Dealers
Securities
Utility
HIGH-GRADE INVESTMENT BONDS
DIRECTORS
ALFRED BAUMGARTEN. C. R.
Toronto
Investment
ELECTRIC BOND & SHARE C6.
CHAS. MEREDITH,
H. ROBERTSON
and
Public
Correspondence Solicited
CHICAGO
Co., Limited
Bead Brokers ait Financial Agents
WE OFFER
Bankers
NEW YORK
BALTIMORE
HARTFORD
C. Meredith &
WE FINANCE
MONTREAL
44 and 46 Wall
Street* New York
INVESTMENT SECURITIES
Ms ef Exchange.
Letters ef Credit.
Members of the New York
Exchange.
Dealers
Municipal, Railroad and
Equipipent Bonds.
Interest alio red on deposits
Subject to Draft.
Stock
in
37 Wall St.
NSW TOSS
136 S. 10th 8t.£
PHILADELPHIA
tl
THE CHRONICLE
atxd
PITTSBURGH.
LOUISVILLE.
PORTLAND, ORE.
J. J. B. HILLIARD & SON
INVESTMENT BONDS
(NO STOCKS)
J. S. & W. S. KUHN
BANKERS AND BROKERS
Incorporated
INVESTMENT BONDS
STREET RAILWAY SECURITIES
A Specialty
PORTLAND
Municipal and Corporation
Oorrespondenta: WALKER BROS., 71
B’way. N. T.
Donner, Childs & Vfoods
STOCKS AND BONDS
Successors to CHI LDS &CHILDS
Exchanges
and
Pittsburgh Stock
Chicago Board of Trade
INVESTMENT
H. P.
PITTSBURGH
S. FRAZER
Local Stocks and Bonds
INVESTMENT SECURITIES
NEW TORE
and
258 Fourth Ave.
Singer Bldg.
Quotations and
Information Furnished
PITTSBURGH SECURITIES
BALLARD
Banker* and Broker*
NASHVILLE.
Union Bank
Building,
Southern
PHILADELPHIA.
AND
and Stocks
California
Issues
a
AUGUSTA,
Investments receive our special attention. In¬
formation cheerfully furnished
regarding present
holdings or proposed Investments.
SAN FRANCISCO
WILLIAM R. STAATS CO.
CALIFORNIA
SOUTHERN
MUNICIPAL BONDS
YIELDING 4}4% TO %%%
CO.
Philadelphia.
f PHILA.DELPIA STOCK
EXCHANGE
MEMBERS! NEW YORK STOCK EXCHANGE
l CHICAGO BOARD OF TRADE
THE ROBINSON-HUMPHREY CO.
HUNTOON
Specialty
Established 1887
GA.
ATLANTA.
Chestnut and Third Sts..
CORPORATION
Correspondence Invited
LOS ANGELES
WILLIAM E. BUSH
STOCK AND BOND BROKERS
28 South Third Street.
PHILADELPHIA
&.
PUBLIC
BONDS
Offerings of Southern Bonds
Wm. G. Hopper & Co.
A
James H. Adams & Co.
WANTED
HOPPER,
H. S. HOPPER,
Members of Philadelphia Stock
Exchange.
REED
Securities
MUNICIPAL
W. G.
SAN FRANCISCO
Member The Stock and Bond
Exchange
LOS ANGELES.
PITTSBURGH
J. W. SPARKS
Invite Requests for Information
1st Nat. Bank Bldg..
AUGUSTA. QA
Members Pittsburgh Stock
Exchange.
MUNICIPAL AND CORPORATION BONDS
PITTSBURGH SECURITIES
& Co.
PACIFIC COAST SECURITIES
BROKER
&. CO.
Chicago and New York.
Wakefield, G&rthwaite
JOHN W. DICKEY
PITTSBURGH, PA.
to
Corxeapondenta.
Harris. Winthrop & Co.. New York & Chicago
TENN.
AUGUSTA.
Members Pittsburgh Stock Exchange
HOLMES, WARDROP
Private Wire
BAN FRANCISCO
LOS ANGELES
Blanch, Coronald6 Hotel. Chronado Beach.
Ife
on
&. McCONNEL
Commonwealth Bldg.
THOS. PLATER & CO.
8TOOKS AND BONDS
INVESTMENT SECURITIES
J. C. WILSON
MEMBER
HENRY
Taylor & Company
SAN FRANCISCO.
INVESTMENT SECURITIES
LOUISV/ILLE, KY
NASHVILLE.
PITTSBURGH, PA.
BONDS
PACIFIC COAST SECURITIES A SPECIALTY
John W. & D. S. Greed
SECURITIES.
Union Bank Building,
PHILADELPHIA
NEW YORK.
James S. Kuhn.
L. L. M’Clelland.
President.
Seo. & Tteaa.
PAID-UP CAPITAL, >500,000
Members New York and
MORRIS BROTHERS
LOUISVILLE. KY.
Pittsburgh, Pa.
LXXXXI.
brokers outside Hew
We Buy and Sell
of
IjVoL.
Municipal and Corporation Bonds
TO YIELD
4^% TO 6%
LOS ANGELES
PASADENA
Specialists in
ATLAHTA, GEORGIA
BARROLL & CO.
INACTIVE SECURITIES
421 Chestnut St.. Philadelphia, Pa.
Legal Bonds
BONDS
E. B. JONES A CO.
BONDS
Morris
Building,
HILLYER TRUST CO.
Capital and Surplus,
PHILADELPHIA
-
$300,000
FIELDING J. STILSON CO.
B. W.
MOTTU & CO.
SOUTHERN
Strassburger
INVESTMENT
BANKERS AND BROKERS
NORFOLK, VA.
POE &.
DAVIES
Members
Baltimore Stock Exchange
Otto Marx &. Co.
Seaboard and Coast Line Issues
Local and Southern Securities
BANKERS AND BROKBR8
BIRMINGHAM. ALABAMA.
MEYER & GOLDMAN
ALA.
COLSTON, BOYCE & CO
Members Baltimore Stock Exchange
STOCKS AND BONDS
INVESTMENT BONDS
OFFICES:
SOUTHERN SECURITIES
ALABAMA
PROVIDENCE.
MEMPHIS.
JNO. L. NORTON
Local Stocks and Bonds.
86 Madison
-
Avenue,
-
TENN,
Boettcher, Porter & Company
Denver, Colorado
Denver City Tramway 5s
Denver Union Water Co. hds. & stks.
Denver Gas & Electric Co. 5s
Great Western Sugar Co. stock
Colorado Telephone Co. stock
Cities Service Co. stock
Denver District Improvement bds.
6%
Colorado Irrigation District bonds
6%
CALVIN BULLOCK
INVESTMENT BONDS
COLORADO SECURITIES
PORTLAND, MAINE
Richardson & Clark
85
Exchange Street, Providence, B. I.
Bonds, Stocks and Local Securities.
Private wires to Boston, Philadelphia
and New York
ANGELES STOCK EXCHANQB
LOS ANGELES.
LOS
DENVEftTtiPL
BALTIMORE
BIRMINGHAM, ALA.
STOCKS AND BONDS
INVESTMENT SECURITIES
MEMBERS
SECURITIES
MONTGOMERY,
Established 1892.
BIRMINGHAM, \
MONTGOMERY,!
Bldg
Los Angeles.
MONTGOMERY.
^^AAA\a\AAiVL''AA/VVVVVVV\VVVVV\NVVVW(/VVVVWVVVVVVVVVVVVVVVVVWVVV
-
H. W. HeUman
ATLANTA, GA.
NORFOLK, VA.
MEMPHIS.
-
Merchants’ Exch. Bldg.
San Francisco.
Established 1854
H. M.
PAYS0N & CO.
Investment Securities
PORTLAND
Oh as. H.
•
MAINE
Payson Geo. S. Pavson Herbert Paysan
-
-
-
in
THE CHRONICLE
Due. 10 1910.1
Q&itux* atx4 QKohtvs xrotsifU Hew
-»
«A
i-VjV.rrl*--*
CLEVELAND.
ST LOUIS.
CHICAGO.
FRED. S. BORTON
T.
R. C. ENWRIGHT
_
$100,000
GREENEBAUM SONS
National Enameling &
BANKERS
Randolph Streets, Chicago.
High-Grade Investment Securities,
dtleaco First Mortgages and Bonds for sale.
Corner Clark and
issue Letters of Credit
all parts of
available In
for travelers,
the World.
General Domestic and Foreign Banking Business.
Correspondence Solicited.
Send /or our laUst
lists of Securities.
Sanford F. Harris
& Co.
DIVESTMENT SECURITIES
THE
Stamping Co.
Refunding First Mtge Real Estate 5s
Due June 1, 1929.
This Issue of $3,500,000 00 bonds Is a first
mortgage on property and plants valued In excess
of $8,000,000 00.
The net earnings of the Company extending
over a period of nine years since Its organization
have averaged
$1,219,649 09 per annum, or
approximately Four times the Interest and
sinking fund requirements.
The mortgage provides that the liquid assets
of the Company shall at all times be df ah afhoifht
at least equal to the aggregate debts of the
Company. Including the outstanding bonds of
Price and particulars on
application
CHICAGO,
ILL.
New York Stock Exchange.
New York Cotton Exchange.
New York Coffee Exchange,
ghicajo
Stick Exdl.D«.
St. Lottis Merchants'
Exchange.
Allerton, Greene A King
THE ROOKERY, CHICAGO
RAILROAD. MUNICIPAL AND
CORPORATION BONDS
m
Investment Bonds
CLEVELAND. OHM
Citizen*' Building.
INDIANAPOLIS.
Investment Securities
(INCORPORATED.)
COMMERCIAL PAPER
A CO.
WHITAKER
I WILL BUY AND
ALBANY, N.Y.
PETER J. CALLAN
5%
INVESTMENT BANKER
Grcular
on
application
300 H. FOURTH ST.
William R*
Local, Listed and Unlisted
STOCKS AND BONDS
ST. LOUIS
•
Compton Co
Boht*.-Laclede Bldg.
ST. LOUIS
205 LaSalle St.
CHICAGO
REAL ESTATE
HIGH-CLASS BONDS
DEALT IN
Loeal Securities.
SAINT PAUL.
APPLICATION
Twin City Telephone Co. 1st 8s
Correspondence Invited on
Edwin White & Co.
High-Grade Bonds
for Investment
CINCINNATI
CHICAGO
WELLS & DICKEY CO
MINNEAPOLIS. MlNN.
C. G. YOUNG
SIXTY
WALL ST*'
Pnblie Utilities and Industrial!
NEW Y0BK
FRIEDLANDER
EDGAR
Mans. Am. Sec. C. B.
DEALER IN
Cincinnati Securities
OHIO
CINCINNATI.
PROVIDENCE.
BUFFALO.
ALBERT P. MILLER Jr.
H. U. WALLACE
SNGINCER
Examinations, Reports. Surveys, Supervision el
construction and operation of Bleetrie and 8Hsn
INDUSTRIAL TRUST CO. BUILDINQ
Lake Shore A South Bead Electric
Marnnette Bldg.
Rahway.
CHICAGO ILL.
PROVIDENCE, B. I.
BUFFALO, N. Y.
Local Securities
Government, Municipal
Gas, Electric Lighting ft Railway
Bonds and Stocks
Corporation Bonds
Designed and Built.
Reports for Financing
MUNICIPAL A CORPORATION BONDS
Twin CityRapid Transit System Bonds
Mhuieapolls National Bank Stock#
JOHN T. STEELE
Railways, Electric Light and Fewer
Plant), Gas Plants, Financed,
Engineering sad Construction
Finns, Methods, Operation
Sarlnpo Bank fiMf, St. Patti
MINWtAPOLIS.
San Franciece, Cal.
Investigation* and Reports on Electric
Railway Gas. Electric Light and Power
Properties. Irrigation Systems, Ac., sot
Financial Institutions and Investors.
London Correspondents:
WEIL, ROTH & CO.
all Northwestern Securities
Exchange Place, NEW YORK
J. G. WHITE A CO., Limited*
• Cloak Lane. Cannon St.. B. C.
Dealers in
CM* ol St. Patft «H,
Engineers, Contractors
Electric
CINCINNATI.
Twtn City Rapid Transit 5s. 1918
J. G. WHITE & CO.
Chicago, Ills.
and other
CIRCULARS AND LIST ON
Httgitueerx.
43-49
MUNICIPAL
nrVESTMEOT 00.
KANSAS CITY. MO
Kansas City Ry. 6 Light Issues.
Western Municipals.
INDIANAPOLIS
Fletcher Bank Bldg
Municipal Bonds
To net 4>4%. to
SELL
INDIANA TRACTION SECURITIES
Missouri & Illinois
CITY, MO.
McCRUM
INDIANAPOL
NEWTON TODD
High Grade
I. W. Cor. Monroe A La Salle Sts., Chicago.
KANSAS
Stock Exchange
American Nat. Bank Bldg..
Application
A. G. Becker & Co.,
and
Hayden, Miller & Co.
Member* Indianapolis
iNew York Produce Exchange,
vttScc{v dOwTq of I moo»
MM*
GUARDIAN BUILDING
In St. Louis at 410 Olive Street
BROKERS
189 MONROE STREET.
H.
NORTHERN OHIO
STOCK EXCHANGE
Joseph T. Elliott & Sons
BANKERS A
W.
MEMBERS CLEVELAND
A. G. EDWARDS &SONS
Slaughter & Co.,
ZM
STOCKS AND BONDS
this Issue.
One Wall Street
ihers:
LISTED AND UNLISTED
ROOKERY
CHICAGO
A. O.
BORTON
&
INVESTMENT SECURITIES
OP CLEVELAND AND
December.
Interest payable June and
BORTON
E. BORT0N
Established let*
A. L. REGISTER ft* CO.
ENGINEERS—CONTRACTORS
Philadelphia
SPECIALISTS IN
BufM* an4 Western M.w York Socurltios
BQDELL &
ROCHESTtB, N. Y.
High Class 6% Bonds
59% Stock Bonus
Write for particular*
JOHN A. BURGESS
Member Rochester Stock Exchange
104-195 Wilder Bldg.
ROCHESTER. N. Y.
801 TO 809 BANIQAN
CO-
BUILDINQ
PROVIDENCE
Pitting gttgitt****.
I”i. CHANCE^
Consulting Mining Engineer and Boolegiat
Bonds and
Preferred Stocks
of Proven Value.
GOAL AMD MINERAL PBOPUTZV
Examined, Developed, Managed
687 Droxel Bldg..
PHILADELPHIA. PA
Tin
THE CHRONICLE
[Tei.
lkxxxi
Dattfuvs and grurlucKS
A. B. Leach & Co.,
ERVIN & COMPANY
BANKERS
BANKERS
Members
149
Broadway, NEW YORK
j**"
T0'1? .Stock
Exchange
(Philadelphia
Stock Exchange
BONDS
140 Dearborn
Street, CHICAGO
NATIONAL BANK
OF CUBA
FOR
Drexel
Capital, Surplus and
Undivided Profits
INVESTMENT Cash in Vaults
Building, Philadelphia.
-
-
-
HEAD OFFICE—HAVANA
Branches
Long Distance Telephone No. L. D. 107.
28 State
$6,266,922 21
32,900,684 60
8,681,379 19
-
Assets
84 GALIANO ST.. HAVANA.
226 MONTE ST.. HAVANA.
Street, BOSTON
PRODUCE EXCHANGE. HAVANA.
Chestnut So 4th St., PHILADELPHIA
PARKINSON A BURR
Hoi. 34-36 WALL ST., HEW YORK.
MATANZAS,
SANTIAGO.
CAIBARIEN,
SAGUA LA GRANDE
SANTA CLARA,
PINAR DEL RIO,
CAMAGUEY,
8ANCTI SPIRITUS.
CRUCES,
CAMAJUANI,
BANKERS
C L HUDSON & CO.
CARDENAS.
CIENFUEGOS,
MANZANILLO,
GUANTANAMO,
CIEGO DE AVILA.
HOLGUIN.
NEW YORK AGENCY—1 WALL ST.
7 Wall Street
53 State Street
NEW YORK
BOSTON
■ambers New Yerfc and Chicago Stock Exchanges
73 Pearl Street
TELEPHONE S070 JOHN.
HARTFORD
Collections
a
Specialty.
Sole Depositary for the Funds of the Republic et
Cuba
Member American Bankers' Association
Cable Address—Banooaae
Miscellaneous Securities
in all Markets
Thomas L. Manson & Co.
Broadway,
321 Chestnut St.
Members Phila. and New York Stock
Exchanges.
Interest allowed, on deposits.
New York Correspondents
/Clark, Dodge &. Co.
\First
-
NEW YORK
Private Wires to Boston, Hartford, New Haven
and
5
NASSAU STREET, NEW YORK.
Established 1865
MEMBERS OF N. Y. STOCK EXCHANGE.
Allow Interest on deposits subject
to sight check.
Boy and sell ea commission stocks and bonds, and
deal In
RAILROAD BONDS
GUARANTEED STOCKS
P. W. BROOKS & CO.
BANKERS
PURCHASE AND OFFER ONLY
BONDS OF THE HIGHEST GRADE
Interest allowed on deposits
Send for circulars
New York City
115
Boston
Maine
70 State St.
Henry G. Campbell
Edwin P.
James G. MacLean
H. G.
Campbell
& Co.
Campbell
STREET,
11 WALL
Members New
York
NEW YORK
Stock Exchange.
Securities Bought & Sold
on
Commission
William Herbert & Co.
MEMBERS
N.
Y.
STOCK
Hanover Bank
11 PINE
111
STREET,
EXCHANGE
Building
-
Broadway
Telephone: 3155 Rector
NEW YORK
Municipal, Railroad
an
PARTMENT
and Corporation Bonds
deals
Companies.
IJ interested write
f >r
our
DE¬
particularly in the
of
Railroad
quotation
Supply
sheet "C’’
McCURDY,
HENDERSON & COMPANY
MEMBERS N. Y. STOCK EXCHANGE
fairest Allowed
on
Deposits Subject to Checks
1862
1910
Jas. B. Colgate & Co.
56 Wall
Street, New York.
Members
M. 7. Stock Xx.
Investment
Bonds.
Accounts of Banks, Firms, Corporations and
Individuals
solicited.
We are prepared to furnidi depositors
every facility consistent with good
hanking.
Effingham Lawrence & Co.
Members N. Y. Stock Exchange
General Banking and Stock
Exchange Business.
BANKERS
III
BROADWAY, NEW YORK
a
Norman S. Walker Jr.
John Y. G. Walker
Ex. Norton
DEALERS IN
Bonds and Guaranteed Stocks
Orders
Executed
J. S. Farlee.
WALKER BROS.
71
BROADWAY, N. Y.
Members N. Y. Stock Exchange
INVESTMENT SECURITIES
Simpson, Pearce & Co.
Members New York Stock
Telephones
Exchange
Members
of
BROADWAY
NEW YORK
Street. New York City.
New York Stock Exchange.
BONDS
Cash orders only in stocks
accepted
E. & C. RANDOLPH
Members
Ill
all
Markets.
W. S. TarbeU.
J. S. FARLEE & CO.
MEMBERS NEW YORK STOCK EXCHANOE.
Brokers and Dealers in
INVESTMENT SECURITIES
W. H.
11 WALL ST.. N. Y.
Goadby & Co.
Bankers and Brokers
NO. 74
BROADWAY,
NEW TORK
111
VICKERS A, PHELPS
29 Wail
in
H. L. Finch.
HARTFORD. CONN.
BANKERS AND BROKERS.
INVESTMENT SECURITIES.
W. M. Ladd, President. R. S. Howard
Jr., Asst. Cash.
E. Cookingham, V. Pres. J. W.
Ladd, Asst. Cashier.
W. H. Dunckley, Cash.
Walter M. Cook, Asst. Cash.
Interest paid on Time Deposits and Savings
Accounts
24 NASSAU STREET
4496-1-2-3-4 Rector
No. 16 WALL STREET.
N. Y. and Phila. Stock
Exchanges.
Orders for Stocks and Bonds executed
upon all
Exchanges Id this country and Europe.
Bapeclal attention given to supplying hlgh-olam
Established 1859
OFFICERS.
OUTSIDE SECURITIES
which
Dividend-Paying Stocks
BANK
OREGON
-
Capital Fully Paid - - - $1,000,000
Surplus and Undivided Profits $600,000
20 Broad Street, New York
We maintain
&, TILTON
PORTLAND
Cable: “Orlentment.'*
JOHN H. DAVIS A, CO.
Members
Capital, $1,000,000
LADD
Chas. H. Jones &. Co.
Transact
Augusta
Broadway
Acts as Cuban correspondent of American
banks and transacts a general banking business.
NEW YORK CITY
BANKERS
---
J. Prentice Kellogg
William A. Lamed
Chas. H. Blair Jr.
John E. Qardln \
Alvin W. Krech iNew York Committee
James H. Post J
Members N. Y. Stock Exchange
Philadelphia
A. M. KIDDER & CO.
-
George P. Schmidt
Frederic Gallatin Jr.
Albert R. Gallatin
National Bank.
CARLOS DE ZALDO. President
JOSE I. DE LA CAMARA. Vice-President
SCHMIDT & GALLATIN
Tel. 2500 Rector
HAVANA
PHILADELPHIA
STOCK BROKERS
Members N. T. and Boston Stock
Exchanges.
OF
76 0UBA STREET
BANKERS,
PRIVATE WIRES TO PRINCIPAL CITIES.
100
BANK
E. W. CLARK & CO.
New
York
Stock
Exchange.
Broadway. New York.
Open Market Securities Department
HORACE HATCH. Manager.
Sealers in Iavcetraoat aad Other Securities of the
United States aad Oanada
financial.
ghz (Sottjcmrojetxt JionxmxJtaut
P. O. BOX 27. MAIN OFFICE.
WASHINGTON. D. C.
OFFICIAL ORGAN OF THE ASSOCIATION OF
AMERICAN GOVERNMENT ACCOUNTANTS.
A MONTHLY MAGAZINE OF INTEREST
TO
ACCOUNTING AND FINANCIAL OFFICERS
OF MUNICIPALITIES,
BANKS. RAILWAYS
AND OTHER PUBLIC SERVICE
CORPORA¬
TIONS.
TO BE FOUND IN ALL LEA BIN O OWlTfPlRE
PUBLIC ACCOUNTANTS' OFFICES.
Sample Copy 16 teats. Per Aimhwi $1
91
Dec. 10
THE CHRONICLE
1910.]
(tiuxxznt
financial.
IX
IScrtxxX Qnquixizs.
WANTED
Stone & Webster
Cumberland
Telephone &
Telegraph Co. Stock
147 Milk Street.
BOSTON
Defiance(0.)Water=Wks. Co. 5s
BOUGHT AND SOLD
First Natl. Bank Bids*
5 Nassau Street
Helena Water=Works Co. 4s
Chic. Sub. Water & Lt. Co. 5s
York Haven Water Pow. Co. 5s
London & Chic. Contract Stock
Omaha Water Co. 5s & Stock
Helena Light & Ry. Stocks
New Hamp. El. Ry. Pref. & Com
Bodwell Water Power Co. 5s
Council Bluffs Wat.=Wks. Co. 6s
Glens Falls Gas & Elect. Co. 5s
CHICAGO
NEW YORK
We offer for Investment
GOULDING MARR
Securities of
Broker
Public Service Corporations
NASHVILLE,
=
TENN.
=
tinder the management
of
our
organization
H. Cm Npiller & Co.
MUNICIPAL
yield
to
RAILROAD
5% to 6V2%
CORPORATION
Our Manual
%°
BONDS
6%
Specialists in Inactive Bonds.
27 Stale Mreei
FOR SALE.
Draper Mfg. Com.
describing these companies will be sent
upon request.
U. S. Worsted Pfd.
Selected for Conservative Investors.
Lists Mailed Upon
Niies-Bement-Pond Com.
American Investment Sec’s Com.
Pere Marquette 1st Pfd.
Butte Water Co. 6s. 1921
Indiana Columbus & East. 5s, 1926
Hudson River Elect. 5s, 1931
Application.
Lawrence Barnum & Co.
The
most
conservative
Investors have constantly
bankers, brokers and
before them
Philadelphia
Lynn Gas & Electric Co.
Pittsburgh
Atlanta Northern 5s, 1954
Page Woven Wire Fence 5s, 1922
Newport & Fall River 5s, 1954
ON
Fundamental Conditions
r, W. STEPHENS & 00
concerning these Reports or our
•‘Business Barometers” (which we Install In banks
both for their own and customers’ use), address
BANKERS
For
details
2 WALL STREET.
HOTCHKIN
'
Telephone Main 3448
NEW YORE,
Duluth Edison Electric Com. Stock
BONDS
INVESTMENT
Illinois Traction Common Stock
Lansing Fuel & Gas 5s, 1921
Canton (O.) Elect. Co. 5s, 1937
Largest Statistical Organization in the U. S
Interest allowed on accounts
Ohio
Individuals and
Municipal Bonds
of
Balt. Elect. Co. Guar. Pref. Stock
Corporations
Seattle
CLEVELAND 30-YEAR 4S
United Rys. of St. Louis 4s
Union El. Lt. & P. Co. of St. L. 1st 5s
Tax-free in Ohio
Shawmut Bank Building,
55
Ref. 5s
Laclede Gas Co. of St. Louis 1st 5s
Laclede Gas Co. of St. Louis Ref. 5s
Union El. Lt. & P. Co. of St. L.
W. E. HUTTON & CO.
Member* New York Stock Exchange
Established 1886
Kan. C.
Private wires to Cincinnati. Chicago. San
Francisco and Los Anaoies.
Union Railway, Gas &
Portland Railway, Light
Electric
& Power
DEALT IN BY
•
FRANCIS, BRO. & CO.
(ESTABLISHED 1877)
214 North 4th Street,
S. C. HENNING & CO.
71 Broadway
NEW YORK CITY
Commonwealth Pr
And Constituent
F. W. MASON & CO.
WANTED
Chicago Suburban Water & Light Co. 5s
ALL LOUISVILLE LOCAL SECURITIES
116 So. 6th St..
Development Co. of Am. 6s
Guanajuato Reduc.&Mines 6s & Stk.
Regal Shoe Pfd.
W. L. Douglas Shoe Pfd.
New Hamp. Elec. Rys. Com. & Pfd.
ST. LOUIS
Memphis Street Railway
LOUISVILLE, KY.
U
S. Envelope Co., common.
C. H. FARNHAM
27 STATE STREET,
27 William St., N.
Broad
Y.
WEBB & CO.
R. T. Wilson & Co.
33 WALL STREET
Detroit, Michigan.
NEW YORK
INVESTMENT SECURITIES
74 BROADWAY
The
8TREET, NEW
LONDON OFFICE*
95 Gresham St.
Broadway, New York.
CAPITAL AND SURPLUS $8,009,000
corporations*
daily balancos.
every description.
Invites accounts of individuals firms and
Pays intorest
on
Exocutes trusts ot
-
-
-
NEW YORK
GEO. B. EDWARDS
Company ofYORK.
America
COLONIAL BRANCH*
222
BOSTON
WOLFF & STANLEY
Tel. 6557
WM. HUGHES CLARKE
37-43 WALL
1930
FOR SALE
Louisiana & Arkansas 1st 5s, 1927
Buffalo & Susq. 4s, 1951
Buffalo & Susq. Iron 5s, 1926
Ry & Lt
Companies’
Butte Water Co. 5s, 1921
National Fuel Gas Co Stock
Duluth Street Ry. Co. Gen. 5s,
Kans. C. N. W. Pref. A 5s, 1933
New Orl. Gt. Nor. 1st 5s, 1955
Stocks and Bonds
Trust
BOSTON, MASS.
Congress St.,
Austin (Texas) 4s-5s
Omaha Water 5s & Stocks
Ry. & Lt. 5s & Underly. Sec’s
New York
-
Lighting Co. 6s, 1920
H. L. NASON & CO.
Yielding about 4%
26 Broad Street.
& CO.
SPECIALISTS IN INACTIVE SECURITIES
Stock Exchange Bldg., Boston
Babson’s Compiling Offices, Wellesley Hills, Mass.
NEW YORK OFFICE. 24 STONE STREET
.
WANTED.
NEW YORK
Washington
..
American Caramel Pfd.
Pere Marquette Com.
N. E. Investment Sec’s Pfd.
Waltham Watch Pfd.
BANKERS
27-29 PINE STREET,
REPORTS
BABSON’S
Boston
Tribune Building, 154 Nassau Street,
Telephone 4218 Beekman,
NEW YORK, N. Y.
Negotiations,Investigations, Settlements,
In
City
Satisfactory References
or
out of New York
New York State
Railways, common
Mohawk Valley Co.
Stocks and Scrip.
M'LCOLM STUART
A 60 Broadway.
NEW* YORK
Telephone:
155 R*
or
A
THE CHRONICLE
§VOL.
LXXXXI.
&nmtut gawd Snqnizit*.
Vicksburg Shreveport & Pacific
P. L. 6s, 1915
Denver Northwestern & Pacific 4s, 1952
Toledo Terminal Railroad 4J^s, 1957
Gulf Beaumont & Kansas
City 6s and 5s
Pere Marquette Cons. 4s and Ref. 4s
Atchison & Eastern Bridge 4s, 1928
Wabash, Des Moines Div. 4s, 1939
Cleveland Lorain & Wheeling 5s
Northwestern Terminal 5s, 1926
Great Northern of Canada 4s
Rio Grande Junction 5s, 1939
Detroit & Mackinac 4s, 1995
!
AND ALL OTHER STrAM RAILROAD SECURITIES DEALT
F. J. LISMAN &
United Electric Co. of N. J.
First Mtge. 4s, due 1949
BOUGHT AND SOLD
This company serves a
population
of about 1,000,000, including the
cities of Newark,
Jersey
City,
Hoboken, Elizabeth, Bayonne, the
Oranges and Montclair.
G. W. Walker & Co.
TeL 200 Brood.
Seaboard Air Line Ry.
IN
COMPANY,
3-year Coll. Trust
BROAD
STREET,
Land Title & Trust Co. Building,
39 Pearl
NEW
Michigan Central Deb. 4s, 1929
Chic. Burl. & Quincy Gen. 4s, 1958
Chesapeake & Ohio Cons. 5s, 1939
BANKERS
STREET, NEW YORK
Members New York Stock Exchange.
PHILADELPHIA
44 PINE
Robt.Glendinning 4fcCo.
LIBBEY&STRUTHERS
400 Chestnut Street. Philadelphia.
55 Cedar Street
NEW YORK
Richmond-Washingfcon Co. 4s
West. N. Y. & Pa. 1st
Chic. Rock Island & Pac. Ref .4s, 1934
L. M. PRINCE & CO.
Members New York Stock Exchange.
20 BROAD ST.
NEW YORK
300
Norfolk & Western
Gin. Richmond &
H.
Ft.Wayne7s
Saratoga 7s
Central Branch 4s, 1919
HILSMAN
A CO.
DEMPIRE BUILDING, ATLANTA. GA.
.
100
100
300
100
100
100
WANTED
$100,000 CITY OF YONKERS
4J^s, due April 1915
TO NET 4.20%
New York
Beech Creek First 4s
FERRIS A WHITE,
Tel. 6827-8 Hanover
50 Congress Street
Private telephone between New York and Boston
Schuylkill River East Side 4s
MELLOR & PETRY
Members
Philadelphia
87 WaU St„ N. Y.
We offer
We Want to Buy
Temple Iron Co. 4s
Somerset Coal 6s
Government (internal) 5s
Central RR. of Haiti 6s
Kanawha & Hocking Coal & Coke 5s
Rochester & Pittsb. Coal & Iron 4^s & 5s
J. H. BECKER & CO.
80
Broadway, New York
WANTED
Grand Rapids Ry. Co. 1st M. 5% Bonds, due 1916
OFFER
St. Joseph Railway. Light. Heat & Power Co.
1st Mortgage 5% Bonds. 1937.
Sutton,
Strother & Co.,
Calvert and German Streets
Niagara Lockport & Ontario
Power Co.
Exchange
BONDS
Baker, Ayling & Company
BOSTON
Philadelphia
Providence
List of quotations upon request; also
very comprehensive circular letter in
regard to U. G. I. Stock.
West End Trust Bldg., Phlla., Pa.
Members ot the Philadelphia Stock
Bxohangs
Telephones. /Bell-Spruce31-31.
I Keystone-Race 208
First^Mtge. 5% Sink. Fund Gold Bonds
Ches. & Ohio 5s, 1929
due November 1st 1954.
Price 90 & int.
Yielding
Elmira Cort. & Nor. 1st 5s, 1914
Peoria & Pekin 2nd 4J^s, 1921
Manitoba 4s, 1933
5.60%.
Exempt from taxation in New York State
BURGESS. LANG A CO.
Private
NEW YORK
34 Pine Street
Wire
BOSTON
50 State Street
Telephone 2417-8-9 John
WANTED
Toledo Fremont & Norwalk 5s, 1920
Indianapolis Trac. & Term. 5s, 1933
Union Traction of Indiana 5s, 1919
Philadelphia Stock Exchange.
Ayer Mills Construction & Equip. 4}^s
Interborough R. T. Co. 6s, 1911
Pacific Telephone Co. 5s, 1937
Westinghouse Elec. & Mfg. Co. 6s, 1913
CURTIS A SANGER
Members N.Y.. Boston* Chicago Stock Exchange*
49 WaU Street
NEW YORK
can
84 Pine Street. New York
B
replace with
a
6% First Mortgage Bond
SAM U ELK. PHILLIPS*. CO.
421 Chestnut St.
Philadelphia
Members of
Boston
BLAKE & REEVES
Tel. 1504 John
We
BALTIMORE
Members ot Baltimore Stook
a
REED A. MORGAN & CO.,
$25,000
Newburgh Electric Ry. 6s
Cuban
We buy and sell Bonds of Gas and
Electric Companies controlled by the
UNITED GAS IMPROVEMENT CO.
andlPhlladelphla .Stock Exchange
104 S. Fifth Street
Boston
80 Broad Street
Gettysburg & Harrisburg 5s
New York
WANTED
American Chicle Preferred
Del. Lackawanna & West. Coal
Federal Light & Traction Common
Hudson Companies Preferred
National Fuel Gas
Plattsburgh Gas & Electric Preferred
FREDERIC H. HATCH & C0.
Allegheny Valley 4s
Pine Creek First 6s
Tel. 985 Rector
Manufacturers Water Co. 1st 5s
OF
GEORGIA
5% GUARANTEED STOCK
J.
Equip. 4s
Pennsylvania Gen. Frt. Equip. 4a
Syracuse Rapid Transit 1st 5s
Lehigh Coal & Nav. Coll. Tr. 4^s
New Haven 6s
SHARES
SOUTHWESTERN
Mtge. 5s
Choctaw Okla. & Gulf Cons. 5s
Rensselaer &
We Offer
5s, due May 1911
SUTRO BROS. & CO.
YORK
Street, HARTFORD
Cuban Government Internal 5s
Western Maryland 1st 4s, 1952
ext.
10-year Coll. Trust 6s, due May 1911
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
30
05 Brood St., Now Took
Chicago
Non-taxable in New York State
Securities Maturing January 1st.
Pingree,
McKinney & Co.
8
Congress Street,
We desire
tax
Boston.
offerings of free of
bonds
in
the
State
of
Pennsylvania
WURTS, DULLES A CO.
1H 8. FOURTH ST..
PHILADELPHIA
Telephone Lombard 1060*1061
Dec. 10
THE CHRONICLE
1910.]
f&uxxzut IJjcrtx&
19th Ward Bank Stock
Hudson Companies Preferred
The methods employed by conservative investors In choosing their Investments, Is based on
a close analytical study of all the fundamental factors affecting the investment, such as the
value of the property pledged, the ability of the Company to continue earnings, the general
credit and standing of the Company, and the maturity, price, yield and market of their
securities.
These are points upon which every prospective Investor should be informed.
The ability to judge of the relative value of these several points is only brought to perfection
Automatic Electric Co. Stock
Stock
Great Western Sugar Co. Common &
Mexican Int. 1st 4s. 1977 (stamped)
Pref.
Syracuse Gas Co. 1st 5s, 1946
Keokee Cons. Coke Co. 1st 5s. 1959
Ashland Water Co. 1st Ref. 6s, 1929
through
We
Glide, Wfnmill &Co.
BANKERS
80 BROAD STREET, N.
%uqnix%z*.
INVESTMENTS
Stock
Amer. Qas & Elect. Co. Preferred
xi
T.
years
of experience.
recommending to
our clients a
A RAILROAD BONDA SHORT-TERM NOTE
A RAILROAD EQUIPMENT
are
well-balanced Investment containing
YIELDING 4.80%
“
4.90%
BOND
“
4.80%
AN INDUSTRIAL BOND
“
6.00%
The average income on the above is over 5%.
These bonds have been selected because
they meet our ideas of a conservative investment.
Send for our Circular No. I—7
Telephone 445-6-7 Rector
(New) Gen. 4s, 1987
Oregon Short Line Pref. 4s, 1929
Reading Gen. 4s, 1997
Pittsb. Cin. Chic. A St. L. 4J^s, Ser.B
Pennsylvania Co. 434s» 1921
Pennsylvania Co. 334s, 1937-1941
Chic. & N. W.
NEWBORG & CO.,
Y.
all inactive
on
North American Bldg..
PHILADELPHIA
Members Philadelphia Stock Exchange
’Phones Bell Walnut 22-90
Keystone Race 4-99
N.Y.A Westchester Ltg. deb. 5s,
Westchester Ltg. 1st 5s, 1950
specialize In ooal
company
Kings Co. El. Lt. A Power 5s A 6s
or
PATERSON & CO..
bonds.
Tel. 1985-6-7 Rector
MEGARGEL & CO.
BANKERS
8 Nassau Street
First Mt£e. 4s,
NEW YORK
GILMAN
New Haven Deb. 4s. 1956
B. & O., Pittsb. Middle Junction 3Hs
Denver & Rio Grande Impt. 5s. 1928
Choctaw Okla. & Gulf Cons. 5s, 1952
Choctaw Okla. & Gulf Gen. 5s, 1919
1st Nat. Bank
FlNWICK
Tel. John 109
& CO.
Galveston City 6s, 1928
3o$epbmalker&$on$
Members New York Stock
Exchange.
Broad St.
New York.
Private wire to Philadelphia.
20
€of fin & Company
HEW TORE.
OFFER
Lehigh Valley General 4s
Atlantic Coast Line, L. A N. Coll. 4s
Baltimore A Harrisburg 5s
Atlanta Knoxville A Northern 5s
Columbus A Ninth Avenue 5s
Illinois Central, Cairo Bridge 4s
Kansas City Southern 5s
Chicago A East. Illinois 6s, 1934
84 Pine Street
NEW YORK
WARREN, GZ0WSKI & CO.
Members Toronto Stock
Exchange
25 Broad Street,
New York.
Equipment Bonds and Car Trusts
Swartwout &
Appenzellar
N.7.
WANTED
Danv. Urb.ACham. Ry.5s, Mch. 1923
Decatur Ry.ALt.Co.Cons.5s, Dec.’33
Toledo Fre. A Norw. 5s, Jan. 1920
Decatur Gas A El.Cons.M.5s,Jan. ’3<y
Edward V. Kang & Co-..
MORRIS BUILDING, PHILADELPHIA.
Telephones .Bell-Spruce 3782. Keystone,Race 630.*
Railroad and Other
Investment Bonds
C' K. B, WADE
Tel. 6744 Hanover
49 Wall Street
West Chester Kennett & Wilmington
Ss
COMMUNICATE WITH
George B. Atlee & Co.
119 S. Fourth St.
Philadelphia
Nevada-Callfornla Power Co. bonds and stock.
Denver & N. W. Ry. 5s and stock
Northern States Power Co.
Denver Gas ft Electric 5a
Northern Idaho ft Montana Power Co.
i
JAMES N. WRIGHT & CO
BANKERS
Members N. Y. Stock Exchange
44 Pine Street
33 Wall St.,
’Phones 7460 to 7466 Hanover.
HOLDERS OF
PORCUPINE
84 WALL ST
Northern Ohio 1st 5s, 1945
Chic. St. L. & Pittsb. 1st 5s, reg.,1932
Third Ave. 1st 5s, 1937
Edison El. Ill. Co.(Bklyn.)4s, 1939
N. Y. L. E. & West. 7s, 1920
Kansas City Southern 5s, 1950
Utica A Black River 4s, 1922
N. Y. Susq. A W. Ref. 6s, 1937
Denver A Rio Grande 4s, 1936
J. K. Rice. Jr. A Co.
CLUCAS
Bldg..
The greatest gold camp In the world
Learn about it before the rush
Write us to-day for information
NEW YORK
DOUGLAS
U. S. Motor Stocks
Wells Fargo Express Stock
The highest authorities declare
& COMPANY
Princeton A Nor. W. Registered 334s
Winona A St. Peter 7s
New Orl. Mob. & Chic. Bond Scrip
New Orl. Mobile A Chicago Bonds
New York Municipals
New Jersey Municipals
Phelps. Dodge & Co. Stock
Safety Car Htg. & Ltg. Stock
Dtie 1953
NEW HAVEN. CT.
Tel. 7750 1-8-1 Hanover
57 Wall Street
20 Broad St.. N. Y
Lombard St., London, E. 0
Adams Express Stock
American Express Stock
American Lithographic Stocks
Federal Sugar Stocks
Central Indiana Railroad
Atlantic ft Danville 1st 4s, 1948
EYER
1954
Central Union Gas 5s, 1927
N.Y.A East River Gas 1st 5s, 1944
N.Y.A Qaeens El Lt.A P. 5s, 1930
listed securities.
We
Gas &
R. M. Stinson & Co.
Schwarzschild ft Sulzberger 6s. 1916
Consolidated Indiana Coal Co. 5s. 1935
O’Gara Coal & Coke Co. 5s. 1955
Continental Coal Co. 5s, 1952
Havana Tobacco Co. 5s, 1922
General Motors Common
Electrical Securities Corporation Pref. Stock
International Text-Book Stock
quotations
OFFERINGS WANTED
Western Cons. 5s, 1920
Electric 1st Mtge. 5s. 1932
Decatur Ry. & Lt. Co. 1st Cons. 5s, 1933
“NEWROSE"
PRIVATE WIRE TO ST. LOUIS
We will furnish
Branch Offices
5th Ave. A 43d St., New York
33
Evansville
Cable Address.
Telephone 4S90 Rector.
28 Nassau Street, New York
Cleveland Elyria &
MEMBERS N. 7. STOCK EXCHANGE
60 BROADWAY. N.
Guaranty ofTrust
Company
New York
NEW YORK CITY
DENVER, COLO.
Lacombe Electric Co. 1st 5s
FOR SALE
Consol. Tract. Co. of N. J. 1st 5s
June 1933
Passaic A Newark Elect. Traction
1st 5s, June, 1937
Lincoln
Hudson
St.
Joseph (Mo.) Gas Co. 1st 5s
6s, 1915
St. Paul Gas Co. 1st
(Neb.) Gas A El. Lt. 5s
California Gas A Electric Co. 5s
LAMARCHE &
Tel. 5775-6 Broad.
COADY,
26 Broad St.. N Y.
County Gas Co.
1st
Nov., 1949
5s,
W. E. R. SMITH & CO..
80 Broad Street
-
-
New York
Chicago & North West. (New) 4s
Minneapolis & St. Louis 5s, 1911
Central Vermont 4s
Western New York & Penna. 5s
Chicago Indiana & Southern 4s
"
f j ;
Ulster & Delaware 4s
St. Paul Minneapolis & Manitoba
43^s
’
Kansas & Colorado Pacific 6s
]
St. Louis & San Francisco 4J^s, 1912
|
Western Pacific 5s
Southern Pacific of California 6s, 1912
; Cincinnati Hamilton &
Dayt. Issues
WERNER BROS. & GOLDSCHMIDT
Td. 4800-1-2-3-4-5 Broad.
25 Broad Street, N. Y»
XII
THE CHRONICLE
[VOL.
LXXXXI.
glramctat.
Ncderlandsch Administrate- & Trustkantoor
(NETHERLANDS
ADMINISTRATION & TRUST COMPANY )
215
Singel
-
Site
AMSTERDAM. (Holland.)
H. MEIN KHZ, President
<&xtiz£us Central
Board of Directors!
H. WALTER, L. D..
Chairman,
de Kock & Uyt den Bogaard;
A. A. H. BOISSEVAIN,
Ph. MEES.
Director of Swiss B&nkvereln and
B. Mees & Zoonen.
of Labouchere, Oyens & Co’s Bank.
J. A. DUYNSTEE.
H. MEINESZ.
Telders & Co.
President.
F. Tb. EVERARD.
Q. H. DE MAREZ OYENS.
Banker.
Labouchere, Oyens & Go’s Bank.
P. M. J. GILISSEN
A. L. Q. H. PICHOT
Arnold Glllssen.
Westerwoudt & Co.
AUQ. KALFF,
W. M. SCHEURLEER.
Jan Kalff & Co.
Scheurleer & Zoonen
Acts
Acts
as
as
Executor,
Administrator, Trustee,
Trustee of Corporation Mortgages.
JJLitionat gantt
of
^oxh
320 BROADWAY
Edwin S.
Schenck, President
Francis M. Bacon Jr., Vice-President
Albion K. Chapman, Cashier
Jesse M. Smith, Asst. Cashier
James McAllister, Asst. Cashier
W. M. Haines, Asst. Cashier
Guardian, Agent, eta.
MELLON NATIONAL BANK
PITTSBURGH, PA.
Capita]
•
$2,550,000
Surplus and Profits $1,700,000
As your reserve depositary, this
bank offers you perfect service and
liberal interest on your balances.
CAPITAL AND
SURPLUS,
$7,000,000
-
H. M. Byllesby & Co.
ENGINEERS
EXAMINATIONS and REPORTS
SUtnotS &uretp
Home
Company
218 La Salle Street, CHICAGO
Office, 20S La Salle Street
Portland, Ora.
Oklahoma City, Oklahoma,
CHICAGO
Mobile. Ala.
WRITES ALL CLASSES SURETY BONDS
gtxriRjends.
Court—Fidelity—Contract—Miscellaneous
Office of
H. M.
The motto of the Illinois Surety
Company is “Prompt Service**
both in the handling of its business and the
adjustment of its losses
The
GAS
BYLLESBY & COMPANY,
Engineers,
Managers,
Chicago.
Board of Directors of the
&
ELECTRIC COMPANY
City, Oklahoma, has declared
Wfcxntzfli.
Municipal Bonds
WANTED
Municipal Bond Salesmen, one
experienced in New York State, one
experienced in Pennsylvania, by Ohio
Municipal Bond House. Replies will
Legal for Savings Banks
and Trust Funds
Address—stat-
ng age, experience and references—
B. C. D., care the Chronicle, P. O. Box
958, N. Y. City.
R. M. GRANT & CO.
Office of
H. M.
N
Banks and Trust
York City.
WANTED
Experienced Bond Salesman with
clientele in Middle West.
ABC,
cial
Address
Commercial and Finan¬
Chronicle.
P. O. Box 958,
care
Engineers,
Managers,
Chicago.
New York City.
SALESMAN
with
long experience in buying
and selling municipal and corporation bonds,
and in office management, desires to represent
reputable bond house on the Pacific Coast.
Address, “E. J. M..” care Commercial and
F nancial Chronicle. P. O. Box 958 N. Y. City.
SALESMAN AND OFFICE MANAGER, with
years’experience, desires to connect himself
January 1st with high-grade municipal and
corporation bond house.
Address “T. X.«*’ care
Commercial and Financial Chronicle P. O. Box
958 N. Y. City.
many
on
fptjejetiuijs.
New York. December 8th
1910.
The Annual Meeting of the Shareholders of
thi3 Bank will be held at the
Banking House
on
Tuesday. January 10th, 1911, at twelve
o’clock noon, for the puroose of electing
Direct¬
ors
of sa’d bank, and for the transaction of
such other business as
may be brought before
the meeting.
The Transfer books will be closed
from January 7th to January 11th, inclusive
EMIL KLEIN, Cashier.
GALLATIN
NATIONAL BANK
NEW YORK
December 5, 1910
The Annual Meeting of the Stockholders of this
OF THE CITY OF
Bank for the election of Directors will be held at
banking house. No. 36 Wall Street, the 10th
day of January, 1911, between the hours of 12 m.
the
and 1 p. m.
GEORGE E. LEWIS, Cashier.
THE NATIONAL CITY BANK OF NEW YORK.
December 3rd, 1910.
The annual meeting of the shareholders of this
bank, for the election of directors and the trans¬
action of such other business as may be brought
before It, will be held at Jts banking house In Wall
Street, on Tuesday, January 10th, 1911, at
twelve o’clock noon.
A. KAVANAGH, Cashfer.
~
Board
of
Directors
of
the
.SAN
DIEGO
CONSOLIDATED GAS & ELECTRIC COM¬
PANY of San Diego, California, has declared a
quarterly dividend of one and three-quarters per
cent (1 %%) upon the common stock of the com¬
pany, payable by check December 15th 1910 to
stockholders of record as of the close of business
November 30th 1910.
ROBERT J. GRAF, Assistant Secretary.
COMPANY,
Engineers,
Managers,
Chicago.
NEW YORK
THE MERCANTILE NATI OnTTbXnIkI
of the City of New York.
THE
BYLLESBY & COMPANY,
Office of
H. M. BYLLESBY &
Companies
Would like to correspond with view to organiz¬
ing a BOND DEPARTMENT.
Have had ten
years’ experience in all branches of bond business
and will furnish satisfactory credentials.
Have
sold large amounts of railroad and franchise
corporation bonds and have never handled a
defaulted issue.
Am thirty, married, a club man
nd
Address “ENERGETIC,” care
capable.
ommercial & Financial Chronicle, P. O. Box 958
ew
The
BANKERS
31 NASSAU STREET
To
Oklahoma
1910 to stockholders of record as of the close of
business November 30th 1910.
ROBERT J. GRAF, Assistant Secretary.
Two
be held in confidence.
OKLAHOMA
of
quarterly dividend
of two per cent (2%) upon the common stock of
the company, payable by check December 15tli
a
The Board of Directors of the MUSKOGEE
GAS & ELECTRIC COMPANY’ of Muskogee,
Oklahoma, has declared a quarterly dividend of
one and three-quarters per cent (\%%)
upon the
preferred stock of the company, payable by check
December 15th 1910 to stockholders of record
as of the close of business November 30th 1910.
ROBERT J. GRAF, Assistant Secretary.
STANDARD. GAS
Office of
& ELECTRIC
Chicago.
COMPANY,
The Board of Directors of the STANDARD
GAS & ELECTRIC COMPANY has declared a
quarterly dividend of one and three-quarters per
cent (1 H%) upon the preferred stock of the com¬
pany, payable by check December 15th 1910 to
stockholders of record as of the close of business
November 30th 1910.
W. F. STEVENS Jr.,
Secretary.
AMERICAN CAN COMPANY.
quarterly dividend of One and One-Quarter
A
Per Cent
Preferred
(114%)
Stock
of
has
been
this
declared
Company,
upon
the
payable
on
January 2, 1911, to stockholders of record at the
close of business December 18, 1910.
Transfer
Books will remain open.
Checks mailed.
,V
R. H. ISMON, Secretary.
GENERAL CHEMICAL COMPANY.
25 Broad
Street, New York, November 18,1910. The regular quarterly dividend of ONE AND
ONE-HALF PER CENT (1 H%) will be paid
January 3, 1911, to preferred Stockholders of
record at 3 p. m., Tuesday, December 20, 1910.
JAMES L. MORGAN, Treasurer.
,
Dec. 10
fPnattjdal.
gixrt&jen&s.
LOUIS SOUTHWESTERN RAILWAY
Preferred Stock Dividend
ST.
xiii
THE CHRONICLE
1910.]
CO.
December 8, 1910.
A semi-annual dividend of $2 per share on the
preferred capital stock of this Company has been
declared payable on January 16, 1911, at the office
New York,
abcock, Rushton & Co.
New York, to
165 Broadway,
of the Company,
stockholders of record at the close of business on
December 31, 1910.
The transfer books will not be closed.
By order of the Board of Directors.
ARTHUR J. TRUSSELL, Secretary.
BANKERS
AT ALL TIMES BY PRIVATE
YORK BOND MARKET THROUGH
OUR OWN NEW YORK OFFICE AND A E PREPARED TO
IN THE
FSRNISH PROMPT A D EFFICIE T SERVIC
HANDLING OF ORDERS AND SUPPLYING QUOTATIONS.
WE ARE IN CLOSE TOUCH
WIRE WITH THE NEW
Treasurer.
CENTRAL & HUDSON
NEW YORK
of record at the close
EDWARD L
Inst.
TO THE
York,
1,
Dec.
SERV¬
STATISTICAL FILES ARE ATTHE
OUR COMPLETE
DESIRING ACCURATE INFORMATION ON
BOND ISSUES OF RAILROAD, INDUSTRIAL AND PUBLIC
ICE OF THOSE
of
ROSSITER, Treasurer.
New
NOTES.
AND-SH0RT TERM
SERVICE CORPORATIONS.
VALLEY RAILWAY CO.
THE HOCKING
GIVE SPECIAL ATTENTION
HANDLING OF ORDERS IN ALL LOCAL BONDS
WE ARE ALSO PREPARED TO
RIVER RAILROAD COMPANY.
Treasurer’s Office, New York, Dec. 7th, 1910.
A dividend of Five Per Cent on the capital stock
of the New York & Harlem Railroad Company
will be paid by the New York Central & Hudson
River Railroad Company, Lessee funder the pro¬
visions of the contract between the two com¬
panies) at this office on the 3rd day of January
next, to stockholders
business on the 15th
BROKERS
LISTEDsn^ UN LISTED BONDS
DETROIT & MACKINAC RAILWAY COMPANY.
40 Wail St., N. Y. City, Nov. 28th, 1910.
A dividend of Two and One-Half Per Cent
(2}4%) on the Preferred Stock and a dividend
of Two and One-Half Per Cent (2>$%) on the
Common
Stock of this Company, have this
day been declared, payable January 3rd, 1911,
to stockholders of record at the close of business
on
December 15th. 1910.
The stock transfer
books of the Company will close December 15th,
1910, and reopen January 5th. 1911.
C. B. COLE BROOK.
AND
1910.
A semi-annual dividend of TWO PER CENT
(2%) has this day been declared upon the Common
Stock of the Company, payable January 16, 1910,
at the office of J. P. Morgan & Co., New
THE ROOKERY
CHICAGO
York
to stockholders of record December 19,
1910
Stock
transfer books will not close.
Checks will be mailed to stockholders who have
filed dividend orders.
JAS. STEUART MACKIE, Treasurer.
New York Stock Exchange
’
7 WALL STREET
NEW YORK
City,
PREFERRED DIVIDEND
Otfice of the
RAILWAY,
JOSEPH
ST.
REDEMPTION
gittidjeixds*
NO. 33
American Woolen Company
LIGHT, HEAT &
POWER CO.
Joseph, Missouri.
St.
FORTY-SEVENTH QUARTERLY
The Board of Directors has declared the regular
quarterly dividend of One and One-Quarter Per
(1 *4%) upon the Preferred
January 1st, 1911, to stockholders
close of business December 15th,
will be mailed.
Cent
G.
L.
Stock, payable
of record at the
1910. Checks
Cent
the
STOCK DIVIDEND NO. 18.
Office of the
POWER CO.
Portland, Oregon.
The Board of Directors has declared
the regular
quarterly dividend of One and One-Quarter Per
Cent (1 M%) upon the Preferred Stock, payable
January 1st, 1911, to stockholders of record at
the close of business December
12th, 1910.
Checks will be mailed.
G. L. ESTABROOK. Secretary.
Notice is hereby
Per
January, 1911.
Transfer Books for
paid on the 16th day
Preferred Stock will be
numbered:
the close of business
at
,
Co. of New York.
*
WM. H. DWELLY
Boston, Mass., Dec. 6, 1910.
JR., Treasurer.
AMERICAN COMPANY.
Y., November 26, 1910.
A quarterly dividend of ONE AND A QUAR¬
TER PER CENT upon this Company’s Capital
CHATTANOOGA RAILW AY & LIGHT CO.
Stock will be paid on January 3, 1911, to stock¬
Chattanooga. Tennessee.
The Board of Directors has declared the regular holders of record at the close of business on
December 15, 1910.
The stock transfer books
quarterly dividend of One and One-Quarter Per will not be closed. Checks will be mailed to
Cent upon the Preferred Stock of the Chattanooga
stockholders who have filed Permanent Dividend
Railway & Light Co., payable January 1st, 1911,
Orders at this office.
to stockholders of record at the close of business
J. D. MORTIMER, Secretary.
December 15th, 1910.
Checks will be mailed.
PREFERRED STOCK DIVIDEND
Office of the
G. L.
ESTABROOK, Secretary.
Office of the
NORFOLK & W ESTERN RAILWAY CO.
The Board of Directors has declared a quarterly
dividend of One and One-Quarter Per Cent upon
the Common Stock of the Company, payable at
the
office
of
the
THE NORTH
30 Broad St., N.
NO. 6
Arcade Building,
and after December 19,
Company,
Philadelphia, Pa., on
1910, to the Common Stockholders as registered
at the close of business November 30, 1910.
E. H. ALDEN, Secretary.
The Board of
DIVIDEND NO. 46
Directors of the American
Refining Company have this day
Smelting
&
declared a divi¬
immediately after the
final adjourn¬
special meeting of the stockholders of
Company called to be held on January 5, 1911.
W. E. MERRISS, Secretary.
ment of a
the
AMERICAN CAR & FOUNDRY
COMPANY.
New York, Dec. 5,
1910.
PREFERRED CAPITAL STOCK
DIVIDEND NO. 47
A dividend of One and Three-Quarters Per Cent
(1^%) on the Preferred Stock of this Company
has this day been declared, payable January 2,
1911. to stockholders of record at the close of
business December 12, 1910.
Checks will be mailed by the Guaranty Trust
Philadelphia, December 6. 1910.
WM. M. HAGER, Secretary.
AMERICAN CAR & FOUNDRY COMPANY.
New York, Dec. 6, 1910.
COMMON CAPITAL STOCK
DIVIDEND
NO. 33
A dividend of One-half Per Cent (H%) on the
Common Stook of this Company has this day been
declared,
holders of
12. 1910.
Checks
Company
payable January 2, 1911, to stock¬
record at the close of business December
will be mailed by the Guaranty Trust
of New York.
S. S. DELANO* Treasurer.
WM. M. HAGER, Secretary.
COMPANY.
PREFERRED STOCK DIVIDEND NO. 46.
32 Nassau St., N. Y.. Dec. 6, 1910.
A regular Quarterly Dividend (No. 46), of One
nd One-Half Per Cent, on the Preferred Stock
declared, payable on
stockholders of record, at the
21, 1910.
f this Company, has been
anuary 3, 1911, to
lose of business December
Checks will be
mailed.
J.
E
TUCKER.
1110
1124
247 1126
1148
256
1172
324
1173
328
1177
355
1183
418
1253
450
1378
456
1396
516
1482
561
1522
587
1615
589
1643
628
1645
657
1651
752
1746
848
1790
857
1796
885
1831
899
1842
908
1928
978
1935
1065
1979
1066
1993
1076
195
213
id One-Half Per
inuary 3rd, 1911,
muary
CHICAGO, Marquette
»r
16 1910
Transfer
HENRY
C.
KNOX, Secretary.
INTERNATIONAL HARVESTER COMPANY.
Quarterly dividend No. 4 of 1% on the Common
took, payable January 14, 1911, has been deared to stockholders of record at the close of
nslness December 24, 1910.
RICHARD F. HOWE,
*
Secretary.
Building
Third National Bank Building
CLEVELAND, Williamson Building
PITTSBURGH, Farmers’ Bank Building
BALTIMORE, Equitable Building
ANNOUNCE
The
Opening of an Office
at
BALTIMORE
in the
16
on the
DecemDecembooks will not be closed.
3r
STREET
ST. LOUIS,
dividend of 1 h % on the
regular quarterly dividend of 1 *A %
stock of this company payable
31 1910 to stockholders of record
COMPANY,
Secretary.
LONDON, E. C.
COLEMAN STREET
30
Cashier.
>mmon
No.
NEW YORK
EQUITABLE BUILDING
December I,
MERICAN BRAKE SHOE & FOUNDRY CO.
The Board of Directors have this day declared
Le
6354
6357
6403
6445
6452
6503
6527
6653
6656
6677
6726
6785
6786
6787
6856
6887
6909
6961
7094
7257
7337
7343
7379
7428
7475
7492
7494
30 BROAD
Treasurer.
Transfer books will not be closed.
HENRY C. KNOX, Secretary.
5605
5607
5614
5629
5716
5777
5798
5799
5811
5812
5814
5818
5961
5989
6022
6035
6043
6051
6076
6094
6102
6103
6162
6213
6220
6271
HASKINS &, SELLS
CERTIFIED PUBLIC ACCOUNTANTS
referred stock of this company payable Decemer 31 1910 to stockholders of record December
910
4830
4858
4864
4906
4907
4909
4923
5018
5038
5054
5078
5144
5145
5173
5187
5228
5243
5263
5266
5293
5300
5304
5415
5470
5472
5575
Interest
January 3d, 1911.
above bonds on January 1st, 1911.
THE NEW YORK TRUST
By H. W. MORSE,
December 1st, 1910.
Cent, free of tax. payable
to Stockholders of Record.
regular quarterly
3733
3855
3864
3911
3915
4056
4165
4204
4208
4216
4230
4241
4277
4315
4368
4396
4427
4448
4477
4478
4515
4565
4606
4665
4671
4742
and af+er
will cease on the
MERICAN BRAKE SHOE & FOUNDRY CO.
The Board of Directors have this day declared
le
2796
2835
2856
2912
2965
3114
3191
3238
3254
3259
3271
3272
3320
3376
3417
3423
3432
3510
3514
3522
3524
3580
3602
3621
3687
3719
and accrued
presentation at
will close Dec. 23rd and reopen
4th, 1911.
EMIL KLEIN,
Transfer books
2036
2043
2055
2092
2121
2163
2196
2197
2221
2246
2260
2261
2262
2304
2346
2357
2456
2476
2517
2522
2569
2577
2619
2628
2686
2717
These bonds will be paid at 105
interest to January 1st, 1911, on
the office of The New York Trust Company
26 Broad Street, New York City, on
THE MERCANTILE NATIONAL BANK
OF THE CITY OF NEW YORK.
December 8, 1910.
DIVIDEND: The Directors of this Bank have
ds day declared a quarterly dividend of One
Company of New York.
S. S. DE LANO, Treasurer.
day declared a
Treasurer.
AMERICAN BEET SUGAR
dend of 1 H% on the Preferred Capital Stock of
the Compans^, payable January 3, 1911, to stock¬
holders of record at three o’clock P. M. December
15. 1910.
The books of the Company for the
transfer of Preferred Stock will be closed at three
o’clock P. M., December 15, 1910, and will be
reopened
Philadelphia, Pa.
Directors has this
quarterly dividend of 1 l4 Per Cent on the Capital
Stock of this Company, payable on the 30th day
of December, 1910, to stockholders of record at
the close of business December 23 1910.
J. SELLERS BANCROFT,
OFFICE OF
AMERICAN SMELTING & REFINING CO.
165 Broadway, N. Y. Citv, Dec. 7, 1910.
QUARTERLY PREFERRED STOCK
The
MACHINE COMPANY.
LANSTON MONOTYPE
the
of THE EQUITABLE
LIGHT COMPANY OF
PHILADELPHIA, dated February 1st, 1898,
Two Hundred and Nine (209) Bonds were this day
drawn in accordance with the requirements of
Article Third of the Mortgage, being bonds
December 21st,
1910, and will be reopened January 5, 1911.
Checks will be mailed by the Guaranty Trust
closed
given that, pursuant to
of the Mortgage
ILLUMINATING GAS
terms
(1 H%) on the Preferred Capital Stock of
American Woolen Company of record De¬
cember 21st. 1910, will be
ESTABROOK, Secretary.
PORTLAND RAILWAY. LIGHT &
dividend of One and Three-Quarters
BONDS OF
Equitable Illuminating Gas Light
Company of Philadelphia
The
DIVIDEND
that the regular quar¬
Notice is hereby given
terly
of
PREFERRED
OF
FIRST MORTGAGE
1910
glxrt&eitds.
I. duPONT DE NEMOURS POWDER CO.
Wilmington, Del., Nov. 30th, 1910.
The Board of Directors has this day declared
the regular quarterly dividend of 2% on the
common stock of this company, payable Decem¬
ber 15th, 1910, to stockholders of record at close
E.
December 5th, 1910; also, dividend
the preferred stock of this company,
payable January 25th, 1911, to stockholders of
of business
of 1 X % on
record on January 14th,
1911.
xnr
THE CHRONICLE
[VOL.
LXXXXI.
IPttatxjciaX.
WE OWN AND OFFER
the unsold
portion of
$1,150,000
Seven Per Cent Cumulative
(Preferred
as to assets and
Preferred Stock
dividends)
The McCrum-Howell Company
Incorporated under
the laws of Connecticut
Manufacturers of the "Richmond” Radiators,
Portable Suction Cleaners and
Heating Boilers, Enameled Ware,
Stationary Vacuum Cleaning Systems
Dividends payable the first
days of February, May, August and November.
(2.6th Consecutive Quarterly Dividend paid, November
1, 1910.)
CAPITALIZATION
7% Cumulative Preferred Stock, $3,500,000
Common Stock,
3,500,000
No Bonded Indebtedness
-
From a letter of Mr.
Lloyd G. McCrum, President of the
be had upon
application), we summarize as follows:
Company, giving full details (copies of which
may
Net
earnings for the past six years have averaged more than three times
preferred
dividends. Earnings of the combined
companies
for
fiscal
year
ended
May 1st, 1910,
were $640,195 84.
No
bonds, nor can any be issued without the consent of
75% of the total
stock, the preferred stock having equal voting power with the common. outstanding
The Company is one of the
largest manufacturers of boilers, radiators and enameled
ware, and the largest manufacturer of vacuum
cleaning systems in the United States.
The interest of the
management in the continuance of the
denced by large
holdings of Common Stock.
Dividends on the Common Stock
Both classes of stock are listed
will be made to list this issue.
are
on
Company’s
success
is evi-
at the rate of
the
3% per annum, payable quarterly.
Chicago Stock Exchange, where application
Reference is made to the
following balance sheet, submitted
Safeguard Account Company, Chartered Public Accountants:
and* verified
by the
Combined Balance Sheet
Introducing assets and liabilities of the several companies now
of May 1,
1910, as adjusted after the new issue of Preferred
over as
ASSETS.
Beal
Estate, Plants, Buildings, Machinery,
Patents, &c_
.$5,017,088
Cash—after
deducting
current
liabilities
72
of every nature
462,506 29
Accounts and Bills Receivable
1,157,628 72
Materials, Supplies, Work in Process, Fin¬
ished and Unfinished Mdse
taken
Stock:
LIABILITIES.
7% Cumulative Preferred Stock
Common Stock
Surplus
Reserve
______
$3,500,000
3,500,000
333,185
92,500
00
00
87
00
788,462 14
$7,425,685 87
Having sold
a
$7,425,685 87
large portion of the above preferred stock,
we offer, subject to prior sale and advance in
the balance at par ($100 per share) and
price,
accumulated dividends from November
bonus of 10% of Common Stock.
Interim certificates for the Preferred Stock1st, 1910, to be accompanied by
will be issued
definitive certificates when engraved.
exchangeable for
MeCrum-Howell Company receipts will be
Stock certificates on and after
issued, exchangeable for Common
January 30, 1911.
a
From the
standpoint of security, stability of earnings, liberal income
return, marketability and promise of
we regard the above stock as a safe and attractive
investment.
Our recommendation is based
intimate knowledge of the affairs of the
Company for the past five years.
appreciation in value,
on our own
m
George H. Burr & Company
BANKERS
37 WALL STREET
BOSTON
136 Congress St.
CHICAGO
The
Rookery
NEW YORK CITY
PHILADELPHIA
ST. LOUIS
Phila. Bk. Bldg. 3d Nat’l Bk. Bldg.
KANSAS GIT7
Bk. of Com. Bldg.
SAN FRANCISCO
Kohl Bldg.
DBf.lt
XT
THE CHRONICLE
1910.]
gltunuclaL
$15,000,000
1.Securd
GENERAL MOTORS COMPANY
NOTES
1% HIST LIEN FIVE YEAR SIN IMIS FUNS HOLD
Due October 1, 1915
Dated October 1, 1910
The
Interest
payable April 1 and October 1.
CENTRAL TRUST COMPANY OF NEW
Coupon notes of $1,000 each; may
YORK, Trustee
be registered as to principal
-
$20,000,000
Outstanding (present issue)
15,000,000
Authorized Issue
-
issued only when approved by the Company’s
remaining $5,000,000 can be
Committee.
Redeemable
as a
whole (or in part through
Board of Directors and Finance
Sinking Fund) on any interest date at
1023^ and interest.
Application will be made to list these notes on
The capitalization of the
will be sent on request) is:
the New York Stock Exchange
General Motors Co., as shown by a letter
$16,000,000 6% First Lien
of the Vice-President, (copy of which letter
Five-Year Sinking Fund Gold Notes;
Motors Co. or Sub¬
Subsidiary Companies.
of which report will be sent
information, the Vice-President
18,038,400 7% Cumulative Preferred Stock, whereof $3,552,800 held by General
sidiary Companies;
19,874,030 Common Stock, whereof $4,086,347 held by General Motors Co. or
From a report of Messrs. Marwick, Mitchell & Co., chartered accountants, (copy
on request) upon the condition of the company as of September 30, 1910, and other
of the Company summarizes as follows:
by a first lien on first mortgage notes
Vice-President’s letter, deposited with the
specified in the
Companies valued (at cost less depre¬
__$13,216,261
406,609
and shares of stock of Subsidiary Companies
Central Trust Company, representing:
Real Estate, Plants and Equipment of Subsidiary
ciation) at_
(b) Miscellaneous Investments.
(c) Net current and working assets
Inventories at cost, receivables and cash, including
Less all liabilities, except these notes
(a)
Total Assets
-
-
proceeds of these notes.$38,372,598
14,225,105
137,770,363
-
this issue.
2.
Above assets 23^ times
3.
Proceeds of this issue have enabled the General Motors Co. to provide for
and that of its subsidiary motor manufacturing Companies, (except
the
4.
24,147,493
Companies with about $24,147,000
net current assets, including about
Net profits year 1908-09
Net profits year ending September 30, 1910
Over 11 times the interest on these notes, or
provides net quick assets
outstanding.
6.
Trust deed
6.
Sinking Fund $1,500,000 in
1,600,000 in
2,000,000 in
2,000,000 in
1911
1912
1913
1914
its Own outstanding indebtedness
current operating accounts), leaving
$3,000,000 cash.
---
two-thirds of the principal of the issue.
alone, as therein defined, must never
$9,257,161
10,266,322
be less than 133 1-3% of notes
exceeding 1023^
may be
To be used to retire these notes through purchase at not
and interest or by drawing at that price. These amounts
increased at the Company’s option.
James N. Wallace, Frederick
Trustees. A list of the
Majority of outstanding stock deposited under voting trust agreement with Messrs.
Strauss, James J. Storrow, William C. Durant, and Anthony N. Brady, Voting
Directors and Finance Committee is given in the letter of the Vice-President.
Tti636
makes of high, medium and low-priced motor cars.
Rainier
Welch-Detroit
Cartercar
We^ch
Rapid Truck
Companies manufacture twelve
0 idillac
Oldsmobile
B lick
Elmore
Oakland
J. & W. Seligman & Co.
No. 1 William St, New York
These are:
Reliance Truck
Randolph Truck
Lee, Higginson & Co.
Boston, New York, Chicago
NOVEMBER 30, 1910
This advertisement is
published only as a matter of
record, the notes having all been said
XVI
THE CHRONICLE
[VOL.
LXXXXI
ipnatxjcial.
Cable Address:
Codes Used;
Lieber and ABC 5th Edition
"Hought” Chicago
Peabod^Houghteling & Co.
(Established 1865)
181 La Salle
Street,
CHICAGO
We carry at all times
a
conservative line of
high-grade Investment Securities, including:
CHICAGO REAL ESTATE MORTGAGES
In amounts of from
Our
$10,000 to $100,000 each, secured upon valuable
improved Chicago Real Estate.
judgment in such important requirements as
sirability of location and income value is the result
in the
Chicago field.
valuation of
of
over
security, quality of improvements, de¬
forty years’ active
and continuous
Such mortgages yield from 5 to
6%.
experience
CHICAGO REAL ESTATE SERIAL GOLD
RONDS
In denominations of $500 and
$1,000 each, secured by first mortgage
upon high-grade modern
Apartment Buildings, well-located Mercantile or
Manufacturing Buildings, or large modern down-town
Office
Buildings—a
most convenient and desirable form of
investment
RAILROAD, CAR EQUIPMENT
Having behind them
yielding from 5
to
6%.
AND TRACTION RONDS
in every case a substantial
earnings and sound management.
margin of security, successful history, ample
Such bonds yield from 4^ to
5J^%.
STEAMSHIP RONDS
First
Mortgage Serial Bonds
secured upon modern Steel
Steamships
enviable reputation in the investment
market.
After a most
been unable to discover a
single instance of default in interest or
an
on
the Great Lakes enjoy
searching investigation,
principal in such issues.
are a
legal investment for Michigan Savings Banks and
yield 5%.
we
have
Such bonds
INDUSTRIAL RONDS
Secured upon such staple natural
increasing in value,
and which
are so
protection of principal and interest.
long-established
resources as
developed
increasing the value
and
is
as to
have ample
Also the bonds of well-known
and successful histories.
large, and the bonded debt
Timber, Coal and Iron
The
Lands, which
are
steadily
income-producing capacity for
the
manufacturing corporations having
margin of security in such bonds is invariably
very
always payable in substantial
safety of the investment from
SEND FOR
Ore
year
annual
to year.
or
semi-annual amounts,
These bonds
thereby
net from 5 to
6%.
DESCRIPTIVE CIRCULARS
NOTICE
We
cordially
in the market for entire issues of bonds
of the character indicated above.
invited, and will receive our prompt attention.
are
Offerings
are
fittattrml
TV
nmmerrtH
INCLUDING
Railway Section
and City Section
Bank & Quotation
Section
Railway & Industrial Section
Electric
Railway Earnings
Section
Bankers’ Convention Section
State
NO. 2372.
SATURDAY, DECEMBER 10 1910.
VOL. 91.
Week ending
KslCU/ UVJX
Qlu Ctamfrlje.
(U—
Terms of
$10 00
6 00
13 00
—
7 50
£2 14 s.
£1 11 s.
$L1 50
For One Year
For Six Months
European Subscription (including postage)
European Subscription six months
Annual Subscription in London (including postage)
Six Months Subscription in London (including postage)
Canadian Subscription (including postage)
(including postage)
Subscription includes
Transient matter per
Bankers’ Convention (yearly)
Dayton
Evansville
Kalamazoo
Springfield, Ill
-Per Inch Space
Fort Wayne
$4 20
22 00
29 00
50 00
87 00
(26 times)
(. Twelve Months (52 times)
six Months
OFFICE—Pliny Bartlett, 513 Monadnock Block; Tel. Harrison 4012
OFFICE—Edwards & Smith, 1 Drapers’ Gardens, E. C.
WILLIAM B. DANA COMPANY, Publishers,
LONDON
Front, Pine and
New York.
Depeyster Sts..
13,569,253
8,970,234
5,653,200
4,485,248
3,906,593
2,664,919
2,000,353
2,123,871
1,431,790
1,005,268
1,037,989
980,894
Columbus
Toledo
Peoria
Grand Rapids
CHICAGO
P. O. Box 958.
18,501,17*
Indianapolis
State and City (semi-annually)
Electric Railway (3 times yearly)
inch space (14 agate lines)
( Two Months
(M times)
) Three Months (13 times)
Cards
Standing Business
25,237,850
21,617,553
Cincinnati
Cleveland
Detroit
Milwaukee
following Supplements—
Advertising
Terms of
293,206,548
Chicago
DANA COMPANY.
and Arnold G. Dana,
all, Office of the Company.
Published every Saturday morning by WILLIAM B.
Jacob Seibert Jr., President and Treas.; George S. Dana
Vlce-Presldents; Arnold G. Dana, Sec.
Addresses of
Youngstown
Lexington
r-
Bloomington
Quincy
Springfield, Ohio.
South Bend
Decatur
.....
Jackson
Jacksonville,
Mansfield
Danville
Lima
Ann Arbor
Adrian
CLEARING-HOUSE RETURNS.
&c., Indicates that the total
United States for week ending
to-day have been $3,381,035,545, against $3,413,715,443 last week and
$3,481,997,722 the corresponding week last year.
Ill.
..
..
The following table, made up by telegraph,
bank clearings of all clearing houses of the
.
...
^
..
.
...
Saginaw
416,101.090
47,597,227
Tot. Mid. West.
San Francisco
Los
New York
Boston
-
Per
Cent.
1910.
1909.
*1,696,010.391
18,827.304
11,096,450
4,900,000
7,715,635
9,493,383
4,229,438
3,566,489
1,208,733
1,685,163
1,335,754
957,938
868,677
540,611
497,272
199,527
715,000
Angeles
Seattle
$1,747,726,773
Salt Lake City..
Portland
Tacoma
Oakland
Helena
Sacramento
San Diego
Fresno
Stockton
San Jose
North Yakima
.
135,667,272
121,487,865
29,268.544
234,274,686
67,396,665
20,535,145
133,991,501
130.410.494
29.022,387
226.631.644
60.982,181
20,578,273
—3.0
+ 1.2
—6.8
+ 0.8
+ 3.4
+ 10.5
—0.2
*2.304.640.568
*2,349,343,253
—1.9
Billings
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
...
..
days
days
Seven cities, five
-
527.416,209
490,468,946
+ 7.5
Pasadena
Total all cities, five days
AU cities, one day
*2,832,056.777
548,978,768
*2,839,812.199
642.185,523
—0.3
—8.3
Kansas City
Total all cities for week
*3,381,035,545
*3,481,997,722
—2.9
Other cities,
five
below detailed figures for
December 3, for four years.
We present
noon,
Sat¬
made
by the
the last day
night.
the week ending with Saturday,
Week ending
uivurirvjs cu——
1910.
New York
Philadelphia
Pittsburgh
Baltimore
Buffalo
_
.
Albany..
Washington
Rochester
Scranton
,
Syracuse
Wilmington.
Reading
..
Wilkes-Barre
Wheeling
Harrisburg
York
Trenton
Erie
Chester
Binghamton
Greensburg
Franklin
Altoona
Inc. or
Dec.
1908.
1907.
$
S
431,610
Boston
Providence
Hartford
New Haven
Springfield
...
Worcester
Fall River.
New Bedford
2,299,233,826 2,635,213,783
—12.7
182,368.470
9,479,100
—7.6
+ 2.1
+ 9.1
—4.4
+ 0.8
168,544,415
9,680,600
4,321,745
2,762,436
2,369,047
2,342,636
2.480,571
1,127,305
1.341,876
Holyoke..
649,933
Lowell
540,199
Total New Eng
>
December 3.
%
S
$
1,434,538,166
1,992,630,017 2,320,888,914 —14.1 2,190,116,891
133,349,312
—4.0
138,967,662
175,906,145
168,807,325
51,968,974
42,864,415
+ 1.1
51,980,010
52,509,126
26,732,919
28,479.806
35,243,280 + 0.05
35.259.702
S,474,507
—7.7
9,069,434
11,781,408
10,874,288
5,193,322
5,943,649
8,214,220 —25.4
6,126,600
5,351,948
7,124,607
+ 1.9
8,327,267
8,486,529
3,711,144
4,189,953
4,407,032 + 20.2
5,296,744
2,349,204
—1.4
2,765,586
2,967,177
2,925,615
2,061,787
—6.3
2,131.605
2,785,204
2,610,170
1,301,929
1,362.125
+ 3.1
1,579,596
1,628,981
1,311,909
—8.3
1.473,993
1,748,835
1,602,263
1,292,316
—1.4
1,593,696
1,623,833
1,597,217
1,579,737
1,714,133
+ 1.6
2,053,387
2,085,940
1,104,120
—7.7
1,169,939
1,402.634
1,294,802
760,592
863,560
+ 8.5
996,261
1,081.786
—2.9
2,055.331
2,335,411
2,266,521
653,754
701.351
—4.4
894,473
855,332
553,425
475,545
498,801 + 15.5
576,226
464,700
475,400
431,900 + 23.7
534,100
435,075
603,591
557,601 + 27.9
712,932
262,222
252,878
300,000 —20.0
240,000
425,001
406,212
+ 5.2
410,394
Total Middle..
Portland
1909.
196.160,763
3,962,027
2,890,472
2,350,000
2,015,798
2.130.837
1,281,973
1,396,561
622,516
471,055
208,968,809
+ 16.2
+ 16.4
—4.3
—3.9
+ 4.4
+ 14.6
—6.1
2.444,801,364 1,685,875,863
173,359,086
7,716,600
3,634,864
2,671.717
2,185,771
2,093,527
1,822,807
1,358,882
1,093.282
536,121
503.251
196,975,908
Note.—For Canadian Clearings see “Commercial and Miscellaneous
.
115,434,601
53,341,407
Total Pacific..
Minneapolis
The full details for the week covered by the above will be given next
urday.
We cannot furnish them to-day, clearings being
up
clearing houses at noon on Saturday, and hence In the above
of the week has to be In all cases estimated, as we go to press Friday
132,993,088
6,737.400
3,300,484
2,674,130
1,974,943
1,999,085
,1,494,695
,
Denver
Duluth
St. Joseph
Des Moines
Sioux City
Wichita
Lincoln
.
_
.
.
.
.
Davenport
Topeka
Cedar Rapids
Fargo
.
...
Sioux Falls
Colorado Springs.
Pueblo
Frpmnnt,
Hastings
Tot. other West
St. Louis
New Orleans
Louisville
Houston
Galveston
..
..
.
.
.
_.
Richmond
Fort Worth.
Memphis
Savannah
Atlanta
Nashville
Norfolk
.
...
Birmingham
Augusta
Little Rock..
Chattanooga
Jacksonville
Charleston..
..
.
26,687,172
14,660,144
13,927,238
9,800,032
5,790,107
6,277,3
3,750,000
2,620,094
3,515,759
1,584,543
2,213,825
1,463,262
1,432,107
Omaha
St. Paul..
,
295,196,090
27,108,700
20,132,147
16,670,113
13,546,117
10,463,916
7,427,700
4,085,369
3,644,146
2,706,527
2,158,002
2,340,681
1,870,520
1,013,738
980,183
1,203,626
1,118,501
951,350
690,000
605,528
511,061
636,894
486,364
561,592
488.891
321.708
292,603
369,917
489,244
358,839
332,496
36,502
661,669
380.000 Not Included
Lansing
Spokane._
Clearings—Returns by Telegraph.
Week ending Dec. 10.
1,285,981
1,012,000
1,102,501
687,607
575,055
710,082
432,318
548,407
382,790
375,000
262,116
437,561
436,013
424,375
350,000
30,477
656,072
Akron
Canton
Rockford
.
Mobile
Knoxville
Oklahoma
Macon
Austin
Beaumont
...
889,149
1,050,000
679,000
678,422
290,784
235,349
150,650,403
79.236,224
25,677,358
14,259,963
14,525,288
10,092,500
7,775,044
9,665,153
11,674,254
9,613,810
15,576,723
4,408.387
4,113,615
2,953,370
3,653,381
2,653,712
2,098,679
2,701,493
2,800,000
1,842,724
1,700,000
Jackson
Meridian
-
+ 13.6
+ 12.5
+ 11.5
—11.1
—23.3
—21.7
+ 16.6
—10.4
+ 18.3
—10.9
+ 18.2
+ 5.3
—16.5
—0.8
in total
—0.9
419,789,734
+ 2.5
46,426.538
15,059,944 + 25.0
13,210,427 —16.0
—4.1
5,109,806
—8.9
8,467,578
+ 8.7
8,730,357
6,062.465 —30.2
2,012,690 + 77.2
1,085,989 + 11.3
,+ 6.7
1,578,766
1,047,388 + 27.5
+ 6.4
900,733
+ 6.8
813,379
650,000 —16.8
431,766 + 15.4
382,187 —47.8
550,000 + 30.0
+ 2.6
112,519,983
+ 3.9
51,317,886
—7.2
28,752,885
—0.4
14,722,518
12,325,665 + 13.0
—3.2
10,129,031
7,906,848 —26.8
—2.6
6,443,823
+ 1.7
3,0S8,706
+ 3.0
2,544,470
3,050,110 + 15.3
+ 7.4
1,475,842
1,759,161 + 25.8
—2.1
1,494,418
1,219,665 + 17.4
1,051,431 —15.4
820,000 —28.0
+ 9.2
621,889
580,375 + 16.9
+2 8
285,592
ot included In total
+ 0.3
+ 3.6
+ 14.1
—8.8
1,963,196
1,130,654
1,075,000
1,723,576
v
893,052
840,317
723,453
1,027,303
724,640
390,000
595,881
478,687
461,029
460,163
400,788
371,014
351,561
304,978
199,633
263,872
800,895
812,947
765,181
620,000
719,543
520,015
470,135
505.036
485,273
471,562
429,644
330,000
329,533
261,638
345,815
288,156
214,772
20,118
380,946,246
40,341,757
13,043,763
9,832,664
3,897,632
7,517,739
6,681,418
4,853,179
1,779,367
300,000
196,718
17,923
295,207,222
29,210,844
6,869,352
7,221,501
2,821,335
3,808,369
4,406,183
4,771,017
1,337,329
875,563
750,000
1,264,774
1,113,132
793 000
729,210
617,904
533,503
300,000
273,497
614,815
360,000
93,472,509
40,887,414
26,745,668
13,884,000
11,923,671
9,101,519
63,046,308
25.979,864
.26,504,084
10,738,885
10,938,904
7,596,942
15,175,229
3,625,701
2,880,018
1,955,498
1,110,546
1,658,020
976,661
914,219
813,396
712,352
585,000
642,628
576,265
233,032
3,086,562
2,661,397
1
675,472
1,351,395
1,306,523
1,173,572
842,713
798,415
635,000
514,787
550,022
382,042
122,695,401
68,203,222
21,500,646
15,117,904
15,834,951
7,085,500
6,334,505
6,549,128
6,728,551
5,574,312
5,979,346
3,082,520
3.473,046
2,199,027
2,340,705
1,763,939
1,673,937
1,674,063
1,640,814
1,603,353
1,591,129
1,417,760
946,554
893,980
98,442,015
58,125.362
21,863,900
10,465,608
9,639,945
6,846,000
6,916,553
4,676.422
6,967,284
5,698,498
5,955.949
3,914,095
2,917,383
2,076.639
2,614,481
1.488,244
1,315,254
1,395,494
1,566,162
1,550,845
1,413,577
754,035
768.412
588,392
367,500
236,134,760
213,778,891
+ 10.5
3,427,109,476 2,454,897,397
1,233.982,5851.020,359.231
1,550,000
1,455,976
740,000
+ 16.6
+ 38.5
+ 64.6
+ 26.6
+ 13.4
+ 7.4
+ 8.7
+ 12.6
+ 36.5
+ 12.6
+ 23.1
+ 57.6
+ 17.9
—10.1
+ 9.2
+ 29.2
+ 58.7
—1.1
+ 5.0
+ 63.9
+ 75.5
494,089
Total all.
3.740,461,515
3.413.715.443
V
—8.7
Outside N. Y.
1,4°1,085,4261,419,572,fi01
-4-0 1
■■
584,700
604,458
410,000
410,000
*
4 50,000
+ 24.8
Total Southern
News."
*
886,199
825,000
550.000
2,650,000
—5.8
+ 32.1
—14.9
938,589
804.299
577,063
153,987,865
*
202,532,159
22,128,250
15,674,654
13,048,218
10,587,433
6,581,454
4,765.800
3,404,277
2.157,524
2.172,142
2.319.3HA
1,432,723
1,946,465)S
+ 7.4
+ 11.0
+ 0.2
150,190,315
1907.
272,790,884
26,364,150
15,485,963
14,910,083
13,582,372
8,215,394
5,408,200
3,796,892
3,567.361
—0.7
—6.9
—14.2
—23.9
+ 9.8
+ 7.2
—1.3
—7.3
—9.3
—23.+
—0.8
+ 5.9
—18.5
+ 14.9
+ 6.4
+ 6.0
1908.
76,479,379
22,511,074
15,638,828
15,425,288
7,639,000
9,138,994
8,287,296
8,430,865
5,839,392
12,301,699
3,887.147
3.828,240
2,716,128
3,243,682
1.943.772
1,863,096
2,194,546
1,777,522
1,562,471
1,891,919
2,427,693
1,200,000
917,488
747,978
434,233
540,784
470,000
440,377
455,907
Wilmington, N. C
%
*
$
Subscription—Payable in Advance
Bank and Quotation (monthly)
RAILWAY AND Industrial (quarterly)
Railway Earnings (monthly)
1909.
1910.
PUBLISHED WEEKLY.
December 3.
Inc. or
Dec.
185.218,050
160,338,124
■
1534
THE CHRONICLE
LaFollette’s beliefs
THE FINANCIAL SITUATION.
It
[VOL.
somewhat of a surprise to learn the
present
week that Mr. Taft had not
yet definitely determined
was
are
well known.
LXXXXI.
He is the most
rabid of radicals and wdien he
speaks of “special
the very interests which it was
the purpose of the Constitution to
safeguard, but
interests”, he
means
the appointments he intends making to the two which he would
destroy, such as the protection of
places in the United States Supreme Court. property, the
preservation of personal rights, &c., &c.
Chief Justice Fuller has been dead since the 4th of
Men
upon
vacant
July and Justice Moody announced Oct. 4 that he
would avail of the right given him
by Congress to retire
at full pay.
Accordingly Mr. Taft has had a long time
in which to make up his
mind, and it was supposed
in view of the need of
several urgent cases
that the
a
full bench to consider the
like LaFollette have
tution upheld.
desire to
see
the Consti¬
They would subvert it instead.
of the President is plain. As
the Senate must
ratify the appointments, he wants to
reduce opposition on the
part of individual Senators
Of
to
a
course
the purpose
minimum.
pending before the Supreme Court proprieties
appointments to these two places would be
among the veiy first to be sent to the Senate after the
convening of Congress on Monday of this week.
What has occasioned still more
surprise is the intelli¬
gence in the daily papers that the President had “of
late been endeavoring to ascertain the attitude of
various progressive Senators as to certain men he has
no
But it is
to have him
a
shock to one's
sense
seriously confer with
of the
men
of
the LaFollette
type. Let Mr. Taft submit his nomi¬
nations on their merits, and then if there is
opposition,
let him appeal to the
country.
We
can
assure
him
that the response will not be uncertain.
In the re¬
buke administered on election
day to ex-President
Roosevelt and the
revolutionary doctrines for which
he stands, the
people of this country have shown their
Supreme determination not to tolerate interference with the
President fundamental principles underlying our Government.
everybody in both political They will rally to the support of the President should
desired to consider in connection with the
Bench.”
If there is
anything regarding
Taft concerning which
parties has had absolute confidence it is the rectitude the handful of LaFollettes
remain unregenerate.
in making appointments to the Su¬
preme Court.
Mr. Taft has been a judge himself,
By request of the “Outlook,” Mr. Walker D. Hines,
has a judicial temperament, and no one
up to now General Counsel and Chairman of the Executive Com¬
has permitted himself to doubt that in
making selec¬ mittee of the Atchison Topeka
Santa Fe road, con¬
tions he would be governed
solely by considerations tributes to the current number of that
periodical an
relating to qualifications and fitness, ignoring entirely article upon the
pending
rate
problem. His main
the question of opinions and
political affiliations, and proposition is that, above all
regular disbursements,
allowing not even his own views or desires regarding including
a railroad must obtain from some
dividends,
the important cases now
pending before the Court source funds to cover increasing expenditures “in order
to influence him in the
slightest degree. Now we are to keep up and develop the
property in accordance
suddenly told that the President has been conferring with the public demands
and requirements.” That
with the so-called “progressives” to see if the
candi¬ those requirements increase, and most
assuredly that
of his purpose
dates he had in mind would be
satisfactory to them.
We reiterate that it has been felt there
would be
attempt to put men on our highest tribunal with
preconceived opinions. To find, therefore, that the
President is anxious to please men in
public life of the
most extreme type and who are known to
have a con¬
tempt for the Constitution as being a barrier in the
way of their carrying out their
revolutionary projects,
has been extremely
disturbing and has also had a
disquieting effect.
Nothing conducive to a wise selection can be gained
by conferring with political leaders of that kind.
There would appear to be no reason to
question that
Mr. Taft has been
seeking to obtain the views of the
“insurgent” Republicans, since a letter has been
printed in the newspapers containing the reply of
no
Senator Robert M. LaFollette of
Wisconsin, the most
violent of the radical Senators, to an invitation
from
the President's
Secretary, asking Mr. LaFollette to
come to the White House to discuss
with the President
these judicial appointments.
Mr. LaFollette thought
it best not to call, but wrote the letter
referred to
instead. What Mr. LaFollette would
say could have
been imagined beforehand. The “one
suggestion” he
would offer is that “only such men should be
selected
as will be certain to
construe the Constitution and the
law with due regard to the interests of
the
the demands
certain; the
are
increasing and
very
insistent, is
loudest in protesting against in¬
crease in either
freight or commutation rates and most
sweeping in complaints of railroads is as loud as the
rest in his expression of what the roads owe
to and
ought to do for the public. Therefore the necessity
for funds for this purpose, to come from some
source,
is conceded. The theory that these should
come from
new stock and that the income from
the new work or
improvement will make return upon such stock, Mr.
man
Hines does not treat at
length; he merely points out,
unanswerably, that much
new work (for example,
better stations and elimination of
grade crossings)
will never yield pecuniary
return at all.
Mr. Hines’s contention is that the roads must have
adequate credit; that such credit depends upon pay¬
reasonably attractive dividends and “realiza¬
tion of very substantial surplus
earnings in addition;
further, that this is in the public interest.”
ment of
In
comment, the “Outlook” seems to concede all
points, except that it readduces the proposition
that increased efficiency remains as a
possible
his
Mr.
escape.
Harrington Emerson, who is cited as a witness
for this proposition, is
speaking of what might be ac¬
complished by an ideal or perfect management. One
feature in such a scheme would be a
piece-work and
people, bonus plan, admirable in itself, yet contrary to the
eliminating from consideration those whose legis¬ first theory of
organized labor and unalterably opposed
lative or judicial record showed a bias towards
special by the unions. Nobody claims that railway manage¬
interests or whose legal connections would tend
to ment is ideally perfect, and we are not aware of
any¬
prejudice their minds in favor of such interests*” Mr.
thing human which is so. The economy theory as to
Dec. 10
1535
THE CHRONICLE
1910.|
might be condensed into this: that each road
shall accomplish, in every place and particular, and
under varied conditions, results equal to the best suc¬
cess of any other single concern, in a single place and
under uniform conditions.
Let this stand as an ideal,
to be gradually attained, perhaps; the protection of
the public interest, now menaced by the menace to
railway credit, “cannot be postponed for an indefinite
period to await revolutionizing of industrial methods
or trade union principles, either by the railroads or
by enterprise generally.” So says Mr. Hines. Can
railroads
determined upon
keeping private capital out will
question that the city’s interests are carefully guarded.
Operation, extensions, and alternatives of reversion
to the city at its option after quite a brief term are
provided. The prospect of a possible building of pieces
of a line, left useless by stoppage, or of lack of any
operating contract, seems eliminated. It is surely
far better to have private capital go in together with
the city than to have the city pushed forward to that
from which shrewder, if more selfish, private capital
holds back.
he be controverted?
Whether rates
are or are
not high enough
is
a ques¬
As indications of business
activity, neither the sta¬
decided; conservation of railway credit, as tistics of iron production for the month of November,
nor those of copper production for the same month,
indispensable to the stability and safety of the country,
is not open to discussion.
The difficulty, now re¬ both of which have been published the present week,
stated by Mr. Hines, is to keep this aspect of the rates furnish much occasion for exhilaration. According to
the records kept by the “Iron Age” of this city, the
problem in its due position before the public, so readily
is it pushed aside by the loudness of the protest output of pig iron the past month reached only
against rate increase. The man who is talking of some 1,909,780 tons, being the smallest product of any
tion to be
month of 1910 and comparing with 2,547,508 tons in
proposition which for the time interests him is likely
November last year.
But nothing else could be ex¬
to listen very casually to counter suggestions; inter¬
The iron and steel trades
pose any, and he may answer with a “yes, I know/1 pected, or was looked for.
are dependent above everything else, upon the railroad
and then go on with his own point. The protesting
shippers and those who habitually are against rail¬ situation, and this is discouraging in the extreme, inas¬
roads are in just that position.
What they “want” much as expenses keep steadily rising and the railroads
have not been allowed to raise their transportation
just now they know, and they make such noise in their
insistence that they obscure all else.
It is for the charges so as to furnish part compensation for the
In view of these circumstances the rigid cur¬
Inter-State Gommerce Commission, now virtually sit¬ same.
tailment. of the output of the raw metal is obviously
ting as a court, to consider the broad and large view
a healthful
process by which production is adjusted
that takes in the entire country.
to consumption.
Except for this process of adjust¬
ment,
stocks
the
of
pig iron would rapidly pile up,
The Interborough proposition, submitted on Monday
and down to the hour of the present writing not thereby creating a very disturbing situation.
,
having been responded to by some other, is called
In copper there has been a further diminution in
a four-borough subway inasmuch as it includes reach¬
ing Queens through the Belmont tube, not yet put surplus stocks, which is encouraging as far as it goes,
into service.
What is in a sense connected with but the domestic deliveries during November were
this scheme, namely third-tracking of the elevated not up to the maximum and they also fell considerably
roads and a little extension of them, has already below the takings for the same month of last year.
received the assent of the Public Service Commission. At the same time the output continues large, the
Without going into the discussion of particular routes, production of the refineries (which we have been told,
as our readers will remember, must be distinguished
we venture to point out. that this Interborough plan,
while not now bringing the bridges specifically into from the mine output) in November 1910 having been
service, proposes another tube to Brooklyn, and that 119,353,463 lbs., as against 126,469,284 lbs. in Octo¬
tube is to reach the Heights section, which has been ber, but comparing with only 121,618,369 lbs. in
November last year. The exports remain on a good
neglected hitherto in the various new schemes. This
scale, and for November exceeded those of last year.
one is pronounced quite fair to Brooklyn, even by the
In the table which follows we bring together the com¬
daily journal which has been most earnest in advocacy
of the triborough scheme that just now seems to have parative statistics relating to stocks, production and
been rather overshadowed.
On the whole, this consumption for November, and for the eleven months
of the year.
latest plan has the appearance of providing an extens¬
November
Jan. 1 to Nov. 30
IQftQ
IQIO
10DQ
IQlrt
ive and generally fairly-proportioned subway.
It is Stock?beginning period.lbs. 139,261,914
153,509,626
141,766,111 122,357,266
119.353.463 121,618,369 1,328.782,901 1,287.574,401
to be assumed that something has been learned by Production
Total
258.615,377 275,127,995 1,470,549,012 1.409,931,667
experience in the work of construction, and that by Deliveriessupply
for—
Domestic consumption
60,801,992 66,857,873
705,832,524 635,532,090
sub-dividing into many sections for simultaneous
Export
67,424,316 55,266,595
634,327.419 621.396,05 >
128,226,308 122,124,468 1,340,159,943 1,256,928,140
work, the time required may be rather less than was
Stocks end of period
130,389,069 153,003,527
taken by the existing line.
130.389.069 153,003.527
It
thus
The basis upon which this offer is placed is fortunate
appears that the stock of marketable copper
on
hand
at
all points in the United States on Dec. 1
as matters are.
It is regrettable that public feeling
towards municipal ownership and operation from the was only 130,389,069 lbs., as against 139,261,914 lbs.
start is such that the city cannot be kept out of the Nov. 1 and 141,766,111 lbs. on Jan. 1, and comparing
business, except on the old basis of reversion to the with 153,003,527 lbs. on Dec. 1 last year. The most
city after a term of years; yet this offer does not encouraging feature, however, is the decrease in the
commit the city to the entire cost, and it covers even foreign visible supply. This has been in continuous
a waiver of a part of the term for which the present
progress ever since last March, when the foreign stocks
subway is to remain under lease. Only those who ar aggregated 254,150,400 lbs., while now for Dec. 1 they
CMiner
1536
are
down to
THE CHRONICLE
[VOL.
LXXXXI.
193,155,140 lbs.
Up to last March stocks States of smaller area gains ranging from 5 to 21% are
having taken to be noted, and in a few acreage has been slightly
prevailing prices they reduced.
considered it cheap. Now they appear to be
The average condition of the
buying
crop on Dec. 1 was, as
to supply actual
wants
and
consumptive
not because stated, appreciably lower than last year. In fact,
the metal appears to be
the average for the whole
cheap to hold.
country at 82.5, besides com¬
paring with the high condition of 95.8 on the same
The cotton-crop estimate of the
Department of date in 1909, contrasts with a ten-year average of 91.3.
Agriculture, which was made public yesterday after¬ The general condition of the crop, moreover, is lower
noon, while a little in excess of the expectations of at this
early stage than at the corresponding time in
those whose crop views were
seemingly but an echo any year since 1896. A particularly low state of the
of the low estimates
lately current, was nevertheless plant is reported this year in some localities where last
lower than had* been looked for
quite generally. year it was veiy good. In Oklahoma, for instance,
Following its announcement, therefore, there was a 58 this year compares with 98 a
year ago; in Texas 71
sharp upward movement in prices on the local Ex¬ contrasts with 95; in Kansas (which has
nearly one-fifth
change, amounting in some options to as much as of the winter-wheat area) 73 with
98; in Illinois 82 with
J/2 cent per lb. The Department estimates that the 100, and Missouri 83 with 98. The
only State of large
crop of 1910-11 will reach 5,464,507,000 lbs. of lint production in which the situation
Dec. 1 is reported
(not including linters), equivalent to 11,426,000 bales better this year than last is
Pennsylvania.
of 500 lbs. gross weight each.
This estimate, if it
In the above we
give the facts as we find them.
should by any possibility prove correct, would mean But
condition in December is
assigned little or no
an increase of
only about one million bales over last weight by those in the trade or well informed in
crop
year’s yield (linters being included) and a decrease of matters. We have
only to turn to last year for the
fully 2 million bales from the production of 190S-09. reason for this. In December 1909 condition as re¬
Among the conservative and well-informed there ported was well above the
average of previous years;
seems to be a
disposition to view the Government’s but, due to the vicissitudes of weather
during the win¬
prognostication as appreciably less than the amount ter and early spring, deterioration was
quite pro¬
that will be marketed
during the season, and belief nounced, and the situation of the crop on May 1 was
that such will be the case is strengthened
by the fact less favorable than in the preceding year, though in
that almost invariably the Department’s estimates this
preceding year the condition at the beginning of
continued to pile up, foreign purchasers
the metal merely because at
-
prove
too low.
The report on amount of cotton
ginned to December 1
also made its appearance this week.
It shows
that,
winter had been well below the
average.
more,
there
and consequent
was an
upon
Further¬
the unfavorable weather,
unusual abandonment of
area last
spring,
excluding linters, there had been 10,139,986 bales averaging 13.3% of the fall
planting. This instance
prepared for market to the date mentioned in 1910, and others that could be cited
emphasize the unrelia¬
against only 8,876,886 bales in the same period of last bility of December condition as a basis for
forming
year, 11,008,661 two years ago, 8,343,396 bales in
crop ideas.
If wheat is to winter well it is important
1907 and 10,027,868 bales in 1906.
It follows, that there should be an
ample snow covering to protect
therefore, that if the Department’s crop estimate of it from extreme cold. Current
reports indicate that
11,426,000 bales is to prove correct,there remained to over much of the winter-wheat
territory the crop is
be ginned after Dec. 1 this }rear an
aggregate of only now under a blanket of snow, and therefore favorably
1,286,000 bales, whereas in the like period of last situated for the time
being at least.
million bales were ginned, in 1908-09 over
year
two millions, in 1907-08
nearly 2% millions, in 1906-07
The week’s financial developments have not been
about 3 millions and in 1905-06 a little short of 2
without peculiar feature. In London there has been
millions. In view of the lateness of the
crop this year, witnessed a break in Consols to the lowest level
(78}4)
picking still being in progress in some sections, it in two
generations,concurrently with a marked decline
appears unlikely that so little should remain to be in discount rates and
expectations of a reduction in the
ginned.
Bank of England’s minimum
The weakness in
,
The winter-wheat report of
culture for Dec. 1, issued on
better than expected, even
the Department of Agri¬
Wednesday,*was rather
though showing a much
lower condition of the crop on the date mentioned
than
at the
corresponding date last year. The newly-seeded
area in tlie United States is found to be
2.5% greater
than the revised estimate of
acreage planted in the fall
of the
previous
giving for the whole country an
34,485,000 acres under winter wheat at this
time, or 828,000 acres more than last year, and conse¬
quently a record planting. In all the States of large
production farmers have been conservative in adding
area
year,
of
to the wheat area,
although practically all such States
share in the increase recorded.
is placed at 4%, in
The addition in Ohio
Nebraska, Illinois, Oklahoma
Texas
3%, Kansas and Missouri 2%, Indiana 1%,
Pennsylvania no change is indicated. In some
while in
and
rate.
what used to be termed the world’s
could not be directly attributed to the
premier security
general election,
and certainly not to any
scarcity of money in the open
market.
As a matter of fact, the private discount
rate in London has fallen 1% below the official
charge
of 4J/2% and call loans have been made at
2@3%.
The comfortable monetary conditions were not con¬
fined to England.
Paris, Berlin, Amsterdam and other
Continental cities all quote lower discount rates and
there has been improvement in the banking position.
Coming to New York, there has been witnessed, in
the second week of December, the unusual spectacle
of a rise in call loans materially above the maximum
recorded at the opening of the month—this in spite
of abundant offerings of time facilities at the minimum
quotations of the season. Whereas last week’s settle¬
carried out without
ments
wTere
money
beyond 2J^%,
a
an
advance in call
quotation of 3^8%
was
reached
Dec. 10
THE
1910.]
1537
CHRONICLE
Yet time money is pressed in the fulness of time he was removed from his ex¬
week’s low rate of 4% for alted office. The Young Turks, immediately on
on the market at last
all maturities from sixty days to six months, and overthrowing the Sultan, took steps to secure the
commercial paper is sometimes quoted at a new low money thus deposited. The Bank, however, refused
to give it up, on the plea that the depositor had signed
figure—%.
the order for its withdrawal under duress.
This con¬
Again, instead of the upward movement in foreign
tention was upheld by the Provincial Court at Berlin
exchange often experienced in December, on account
of preparations for meeting indebtedness maturing at when suit was brought ostensibly in the name of
the end of the year, there has been a radical fall in Abdul Hamed; but on Wednesday the Imperial Su¬
rates, an incident all the more remarkable because preme Court reversed the decision and ordered the
of the absence of finance bills and only moderate Reichsbank to surrender the $4,500,000 held on de¬
exports of commodities. On Thursday demand ster¬ posit to the credit of the former Sultan. Not long ago
it was reported that Turkey paid Germany for certain
ling closed at 4 85%, or almost 2%% below the
more or less antiquated warships a very high price in
quotation of a year ago. Rumors were at once cir¬
culated that engagements of gold were being arranged coin which had been deposited in that country by the
in London, but local bankers showed no anxiety to deposed Turkish ruler, so that, altogether, the latter’s
bring about an inflow at this juncture inasmuch as they scheme for self-protection has not worked out quite as
already have as much money on their hands as they he had planned. The Young Turks assuredly need
can place on remunerative terms.
Should, however, every penny they can raise if they persist in carrying
the surplus reserve reported to-day show half as serious out the ambitious militant schemes they have devised
—schemes which might profitably be subordinated to
a shrinkage as that announced last Saturday ($12,631,200), imports might be resorted to on a moderate the industrial, mineral and agriclutural development
scale, provided the Bank of England should interpose of the country.
no barriers.
Though possessing unusual features, as
The British elections in progress throughout the
already remarked, the international monetary outlook,
fortunately, occasions not the slightest uneasi¬ week have emphasized most notably the sobriety of
thought—the phlegmatic temperament—of the aver¬
ness.
age Briton. The political leaders have indulged in a wild
Britain’s trade is not suffering from the political un¬ campaign, momentous issues have been at stake, every
settlement, judging from the official returns for conceivable device has been introduced to stir up
November. The imports reached the huge figure of voters; yet, instead of a freely predicted cataclysm,
$320,425,000 and the exports $184,485,000, the bal¬ the polling has been merely a mild repetition of that
witnessed in January last. The contest is leaving the
ance of imports being, therefore, $135,940,000, and
the total foreign trade $504,910,000.
As compared dominant parties exactly where they were when Par¬
with November last year, the increase in imports was liament was dissolved. And the question is still
$12,399,500 and the gain in exports $17,879,500, asked: What do the voters want? Each .side can
on
Thursday of this week.
while there
were
increases of $27,029,500 and $18,-
claim endorsement of its
principles and panaceas—
802,000 in October. The November receipts of mer¬ Mr. Asquith interprets the results as approving his
chandise included unusually large amounts of cotton, policy of Home Rule and an emasculated House of
the increase from America amounting to
about Lords; Mr. Balfour asserts that the people are against
$7,500,000 and from Egypt $8,750,000. Employment any revolutionary changes in the present form of
throughout the United Kingdom was never more government, for have not more Unionists than Liber¬
plentiful than it is at present, although, as frequently als been returned to Westminster? The course of the
happens when labor is in keen demand, prosperity is election has been closely followed as one day the Gov¬
interrupted at certain points by strikes. Notwith¬ ernment party would gain a few seats only to lose
standing the bitterness of the political contest now them the next. On Monday the Unionists won four
being fought out at the polls, there has been a general seats, the Liberals two, giving the former a clear gain
agreement to minimize the disorganization of business. of five up to that time. At the close of Tuesday’s
The voting has, of course, necessitated the withdrawal polling the vote stood: Liberals, 106; Laborites, 20,
from the metropolis of most members of Parliament, and Nationalists, 26, a coalition total of 152 against
yet the Christmas trade in London is reported to be 147 seats secured by the Unionists. On Wednesday
Britons contrive to carry out changes in evening it was found that the Opposition had cap¬
very active.
the Imperial administration without that widespread tured six seats and lost only two; this brought the total
and prolonged paralysis of industry which too often Unionist gains to eighteen and the Liberal victories
to eleven, while the Labor party had won four and
precedes Presidential elections in this country.
the O’Brienites had
Deposed rulers proverbially inspire scant reverence.
The dethroned Sultan of Turkey, with crafty foresight
begotten no doubt by knowledge of his own short¬
comings, was at great pains to insure that, if misfor¬
tune overtook him, a large fortune would be at his
exclusive command.
While in power, he deposited
several million dollars with the Imperial Bank of Ger¬
many on the strict understanding that the money
would not be paid out except on presentation of an
order under his hand and secret seal. Well, Abdul
Hamed’s precautions proved to have been wise, for
encies.
polled
a
majority in five constitu¬
The closeness of the contest was
again
appar¬
Thursday, the figures at the.close of that day
reading: Liberals 147, Laborites 28, Nationalists 45;
Independent Nationalists 6—total, 226; Unionists,
193, leaving a Government majority of 33, or only
two below that held for the same constituencies in
ent
on
Last night’s cable dispatches
stated that the Unionists have gained to date 21 seats,
the Liberals 14 and the Labor Party 4.
The voting
now stands as follows:
Liberals, 156; Irish National¬
the last Parliament.
ists, 53; Independent
Nationalists, 6; Labor Party, 29.
1538
THE CHRONICLE
Total coalition seats, 244;
[VOL.
LXXXX1.
Unionists, 207; Government
European discount rates have again declined, and
England exerts itself to prevent
i.
London, great difficulty will be
The immigration statement for the month of Octo¬
encountered in making the 4J^% official rate effective.
ber, made public this week, indicates that the influx The easiness has not
been confined to London, but
of aliens into the United States
during that period has been in evidence at Paris, Berlin, Brussels and
this year was somewhat heavier than for the same
Amsterdam. Naturally; however, chief interest has
period of 1909 and more than double the movement of been taken
by New York in the developments in Lon¬
1908, when, however, it was veiy small. The total don. Private rates
there went a full
majority, 37.
unless the Bank of
further weakness in
.
1% below the
arrivals reached 100,334 (made up of
83,805
and 16,529
non-immigrant
immigrant official minimum, but there was a slight
recovery
aliens), comparing with yesterday. The range is 3
9-16% for spot, sixty
92,372 in the month of 1909 and only 60,715 in 1908. and
ninety-day
bills
and
3%% for bills to arriveWhile Italians, as for some time
past, came in greatest rates that are
stimulating the paying off of loans
numbers, the total of that nationality was less than at the Bank. The Bank
of France on
for the
there
same
was
an
month
a
year ago.
On the other hand,
increase in the arrivals from Northern
Europe—English,
Irish, Germans, Scandinavians,
fact, the arrivals of these nationalities, which,
speaking generally, furnish a higher class of labor,
were greater even than in 1907 and
1906, when immi¬
gration was at its flood. For the ten months of the
current year the
aggregate alien inflow (immigrant
and non-immigrant combined) was
1,068,535, against
965,466 for the corresponding period last year, 445,509
two years ago and 1,295,714 in 1907.
Emigration of aliens in October was somewhat
&c.
In
freer than for the month of 1909, the number of de¬
parting steerage passengers having been about 35,000,
against 30,838, but was less than in 1908 or 1907,
and materially so in the latter case. For the ten months
the efflux totaled 325,829,
against 260,668 last year,
521,207 in 1908 and 360,075 three years ago. Striking
a balance between the
figures of immigration and emi¬
gration, we find that for the ten months ended with
October 31 1910 there was a net addition to the
born population of 742,706, this
gain of 704,798 last
year, a
Thursday
ported only
re¬
nominal decrease in its stock of gold,
while it reduced discounts
by $37,560,000 and note
circulation by $18,070,000; bills are now
negotiable
there at 2^%,
occasionally a fraction lower. Berlin
has fallen to the basis of
4%% for spot bills and 4^g%
for bills to arrive,
notwithstanding the loss of $1,998,000 gold reported
yesterday by the Imperial Bank
of Germany.
There has been a notable decline
at Brussels, to
3%%, as contrasted with a Bank rate
of 5%, a
disparity that should mean an early reduc¬
tion by the Bank. In
Amsterdam, also, money is plen¬
tiful, the charge there being only 3J^%* It is im¬
probable that foreign discounts will go much lower be¬
fore reflecting the usual demands
incidental to the
yearly settlements. Only on rare occasions is the
monetary outlook in the second week of December as
comfortable everywhere as it is
to-day. The pres¬
ent banking position is all the more
satisfactory in
a
view of the fact that trade in
of generous volume, this
Europe is, on the whole,
being notably true of Great
foreign- Britain.
contrasting with a
loss of 75,768 in 190S and
Although the Bank of England again purchased, at
price, most of the new gold offered in the
statement,it open market on Monday, and also secured smaller
report of the Immi¬ quantities later in the
week, the net gain recorded on
gration Commission created under the Act of 1907
Thursday morning was only trifling, namely £6,154,
to investigate the various
phases of the question was owing to the
large internal demand for gold in Great
transmitted to Congress on Tuesday. The Commis¬
Britain. The total reserve showed an increase
of
sion unanimously urges the restriction of
unskilled £199,073, while other
favorable changes included a
labor immigration, and in
doing so says in part that reduction in loans of
£1,087,030 and a decrease in cir¬
“immigration from Europe is not now an absolute culation
of £192,035. A decrease of
economic necessity, and as a rule those who come to
£1,359,065 in
public
deposits
was
accompanied
the United States are impelled
by a corresponding
by a desire for better
gain
(£1,410,088)
in
other
conditions rather than by the
deposits. Government se¬
necessity of escaping curities increased
increase of 935,639 in 1907.
In connection wTith this
immigration
is a fact of interest that the final
an
from
intolerable
further
ones.”
£950,032.
“This
fact,” the report
states, “should largely modify the natural in¬
centive to treat that
the minimum
immigration
movement from the
standpoint of sentiment and permit its consideration
primarily as an economic problem.” Stricter tests
for the admission of immigrants are
suggested by the
Commission, and as the boards of special inquiry are
a very
important factor in the administration of the
laws, it is urged, in justice to the immigrants, that their
personnel should be improved. Canada, we observe,
has recently taken steps temporarily to restrict immi¬
gration. Commencing with November 1 last immi¬
crease
in the ratio of
reserve
last week to
only
once
The net result was an in¬
to liabilities from
50.25%
50.59% this week, a proportion exceeded
(in 1909) during recent years in this week.
The amount of bullion
carried
by the Bank, £35,637,626, is also, with the exception of last year, the
largest reported at this season in years. Since these’
figures were compiled, the Bank has purchased £234,000 gold, and despite the low discount rates now
ruling,
the exchanges are still in favor of
London, New York
being the only important exception. According to
our special cable from
London, the Bank of England
grants, except those under engagement as farm gained £6,154 bullion, as
already stated, and held
workers, were required to possess on landing a mini¬ £35,637,626 at the close of the week. Our
corre¬
mum sum of $50 instead of
$25, the sum exacted dur¬ spondent further advises us that there was no
move¬
ing spring and summer months. The change con¬ ment to or from abroad, the
gain being due to the fact
tinues in force until March next, and is intended to that
shipments to the interior of Great Britain, while
restrict immigration at the time when employment
heavy, were more than offset by purchases in the open
is least available.
market
.
now
The details of the movement into
and, out
THE CHRONICLE
Deo. 10 1910. j
of
the
Bank
were
follows: Imports, £824,000,
as
wholly bought in the open
French coin; exports,
net to the
market, and £14,000
nil, and shipments of £818,000
interior of Great
Lower interest rates
Britain.
have this week been
reported
Chicago, from Boston and from Philadelphia, but
in New York there has been an unexpected advance
in call loans.
The only obvious explanation is that a
week ago the actual surplus reserve was reduced to
$5,048,500 through an increase of $18,270,800 in
loans, a gain of $8,246,800 in deposits and a loss of
$10,569,500 in cash, with considerable payments by
the banks to the Government during the current week.
from
There has been no
abnormal activity on the Stock Ex¬
change, and no substantial appreciation in market
values to entail fresh demands for accommodation.
1539
85)4,as contrasted with fully 4 86 and 4 86)4
for these two classes of remittance on Monday.
The
direct cause was a heavy output of bills by an impor¬
fers to 4
which often figures prominently
in exchange operations. The market has also been
depressed by selling of long bills by houses which
bought them when money was higher abroad than it is
now.
There have also been fairly large offerings of
cotton bills, as well as of grain bills.
Yet December
ordinarily brings an extensive inquiry for remittance
to meet the year-end obligations.
Last December
demand sterling was quoted at nearer 4 88. Some
operators view this week’s collapse as wholly artificial,
and they look for an equally abrupt recovery within
the next three weeks.
Such a development may be
fostered by the Bank of England through the marking
up of discounts in London by means of borrowing in
tant trust company
corresponding rise in time money, the open market so as to obviate another reduction
In a 3)4% money market, a
in the official minimum.
the firmness in call loans would not have appeared
4)4% Bank rate is not strictly in order. London
so strange; but borrowers of time funds have been
able to secure ample supplies at 4%, except for 30 may also be influenced by rather large shipments of
dajrs. The final loan on call last week was made at gold to Turkey. In local stock market circles reports
have been energetically circulated that New York
234%; but on Monday of this week the minimum was
bankers contemplate bidding for the new South African
2J4% and the maximum 2%%. On Tuesday 334%
gold to be sold in the open market at London on Mon¬
was recorded, on Wednesday 3%% and on Thursday
3%%, while the ruling rate moved up to 3J4%. Yes¬ day, but in exchange circles engagements are regarded
as improbable.
New York would be able to get over
terday the range was 2)4% to 334%; with the last
loan made at 2)4%
The average rate for the the December-January period without foreign assist¬
week has been 3%, as compared with only 2)4% last ance, and though the London institution holds in its
week. So limited is the inquiry that brokers are little vaults a greater amount of bullion than recorded at
this season in any recent year save 1909, shipments to
perturbed by what they regard as purely temporary
firmness.
The average commission house is carrying America would no doubt be resented. The settlement
of the cotton-bill-of-lading question in favor of this
so few stocks that its complement of time money is
adequate for all requirements. The money market, country has not been a potent factor in the exchange
indeed, is very dull, and unless speculation broadens market, as the proposals assented to by English bank¬
ers at the end of October eliminated all uneasiness on
materially, lower quotations are looked for imme¬
the part of our bankers.
The changes disclosed in
diately after the new year. Already several offerings
of new securities are being brought out, with a view to-day’s Clearing-House bank returns may lend inter¬
est to Monday’s offering of South African bars in
to taking advantage of the cheap money promised,
and the indications are that the investment demand London, especially if exchange should again decline.
will improve. Financial institutions, it is contended, The situation is out of the ordinary, and may there¬
will prefer to buy bonds or shoj’t-term notes fore undergo sudden changes. As already mentioned,
rather than lend their excess reserves at very low call a recovery in quotations would be more seasonable
rates or on lower terms for long maturities than can be than a fresh relapse.
Compared with Friday of last week, sterling ex¬
obtained on high-grade investments.
Exceptionally change on Saturday was firmer, with demand quoted
Discounts have tended downward.
attractive bills have been negotiated at as low as at 4 8610 @4 8615, cable transfers at 4 8655 @4 8660
and sixty days at 4 8255 @4 8260.
Demand on Mon¬
434% and a fair amount of business has been put
through at 4)4%. The general run of choice paper, day fell to 4 86@4 8605 and cable transfers to 4 8640 @
4 8645; while sixty days advanced to 4 8265 @4 8275.
however, is being placed at 5%. The output is some¬
what larger than the quietness in trade might suggest, On Tuesday demand broke to 4 8575 @4 8580 and
and the demand is not very animated.
Buyers who cable transfers to 4 86@4 8610. Weakness again
look more to yield than to quality can still-pick up ruled on Wednesday; demand fell to 4 8555 @4 8565,
bills on a high basis—even 6% names are not unknown. cable transfers to 4 8590@4 86 and sixty days to
On Thursday, when bills were
The range, however, maybe said to be 4)4 to 5)4% 4 8250@4 8260.
for prime 4 to 6 months’ single-name bills and 60 to 90 freely offered by one large institution, demand broke
after the official close to 4 8535@4 8545, cable trans¬
days endorsed bills receivable, with 5)4 to 5)4% for
less desirable varieties.
The easiness in money out fers to 4 8575 @4 8585 and sixty days to 4 8240@
On Friday rates declined to a new low level
of town has stimulated buying of paper in a moderate 4 8250.
for the week, but recovered before the close to the
The range for time money is 4@4)4% for 30
way.
days, 4% for 60 days, 90 days, three, four and five overnight range. The market closed at 48230@48240
for 60 days, 4 8535@4 8540 for demand and 4 8575@
months and 4@4)4% for six months.
4 8580 for cables.
Commercial on banks was quoted
Foreign exchange rates have fallen to near the at 4 81% @4 82 and documents for payment 4 81%
normal gold-import level. After an orderly decline @4 81%. Cotton for payment ranged from 4 81 @
during the first half of the week, demand sterling on 4 81%; grain for payment from 4 81% @4 81% .
Thursday afternoon broke to 4 85)4 and cable transHad there been a
•
1540
THE CHRONICLE
[VOL.
LXXXXI.
The
following shows the daily posted rates for surplus, it may be said, in a word,
that the estimates
sterling exchange by some of the leading drawers.
for the fiscal year
ending with next June are, from the
Treasury
Fri.,
point
of
Mon.,
Tues.,
view, disappointing. Appropria¬
Wed.,
Thurs., Fri.,
'
Dec. 2. Dec. 5.
Brown
Bros. & Co
J60 days 4
_\Slght_. 4
Kidder,
J60 days 4
Peabody & Co
Sight.. 4
Bank of British
/60 days 4
North America
Sight.. 4
Bank of
J60 days 4
Montreal
-\Slght._ 4
Canadian Bank
/60 days 4
of Commerce
Sight.. 4
Heldelbach,
J40 days 4
Ickelhelmer & Co. -\Slght- 4
Lazard
/60 days 4
Freres
-ISlght.. 4
Merchants’ Bank
i 60 days 4
of Canada...
Sight.. 4
.
The
_
83
87
83
87
83
87
83
87
83
87
83
87
Dec. 6.
83 H
87
83 H
87
83
87
83
87
83
87
83
87
83
83
8634
8334
83 34
87
83
87
83
87
83
8634
8334
86 34
83 34
86^
8634
83 34
87
8634
83
8634
83
87
83
8634
8634
8634
83
83
86 34
83
83
86 34
83
8634
83 34
86 34
8234
8634
83 34
86
83 34
8634
8634
movement of money
by the New York banks.
Received by
Shipped by
N. Y. Banks. N. Y. Banks.
Net Interior
Movement.
S6,873,000
974,000
$8,275,000 Loss
1,692,000 Loss
$1,402,000
718,000
$7,847,000
$9,967,000 Loss
$2,120,000
Gold
Total gold and legal tenders
8634
83
87
83
87
83
8634
83 3^
87
Currency
With the
83 34
825*
86X
Week ending Dec. 9 1910.
Dec. 9.
8334
87
83
87
83
87
83
87
83
87
83
following gives the week’s
Dec. 8.
83 34
87
83
87
to and from the interior
Dec. 7.
Sub-Treasury operations the
ending Dec. 9 1910.
Banks’ Interior movement, as above.
Sub-Treasury operations
Total gold and legal tenders
The
in the
Banks
Into
Banks.
Out of
Banks.
result is
as
$9,967,000 Los§
31,000,000 Loss
$2,120,000
$36,147,000
$40,967,000 Loss
$4,820,000
Dec. 8 1910.
of the rate at which bonds of the
sort should be issued.
He repeats his recommendation
that, in order to pre¬
the market
parity between the 3% bond with
the circulation
privilege and the outstanding 2 per
cents, the tax on circulation secured by the 3 per cents
should be raised to
1J^%. This
proposal, it will be
obstructed in the Senate,
partly because
of a wish to hold back
any change until the new-fangled
postal savings experiment should be under way. The
recalled,
was
Secretary, possibly foreseeing continued obstruction,
makes the following
interesting suggestion:
circulation
Dec. 9 1909.
Silver.
Total.
Gold.
Silver.
£
£
£
£
£
35,637,626
35,637,626 35,909,363
131,464,420 33,004,880 164,469.300 141,745,320
Germany
36,513,800 13,056,700 49.570.500 36,004,000
Russia
148,082,000
6,190,000 154,272,000 142,608,000
Aus.-Hun. 55,392,000 12,006,000 67,398,000
56,991,000
Spain
16,404,000 30,698,000 47.102,000 16,094,000
Italy
39,147,000
3,405,000 42,552,000 38,372,000
Netherl’ds 10,257,000
1,899,500 12.156.500 10,080,000
NatBelg.
5,480,000
2,740,000 8,220,000
4,216,667
Sweden
4,476,000
4,476,000
4,373,000
Switzerl’d.
6,331,000
6,331,000
5,003,000
Norway
1,916,000
1,916,000
1.669,000
Treasury funds will lead to a deficit of $29,595,000.
Mr. MacVeagh renews his recommendation
for the
financing of the Canal through Government bonds
exclusively, and brings up again the vexed question
“If, on the other hand, authority were given to issue
$50,000,000 or $100,000,000 3% bonds without the
Gold.
_
France
2,700,000
amount of bullion
of
England.
Net Change in
Bank Holdings.
$7,847,000
28,300,000
following table indicates the
principal European banks.
Congress have turned out larger than the
Treasury expected last December, and as a conse¬
quence the estimated surplus of
$35,931,000 is now
reduced to $15,805,000. This of itself would
doubtless
tend toward
keeping the Treasury situation in even
better equilibrium; but
unfortunately the calcula¬
tion excludes the
requirements on Panama Canal ac¬
count, requisitions for which upon the
ordinary
serve
follows.
Week
tions of
35,773,640
12,174,150
6,833,000
12,160,000
30,969,000
3,965,000
2,815,300
Total.
£
35,909,363
177,518,960
48,178,150
149,441,000
69,151,000
47,063,000
42,337,000
12,895,300
privilege,
we should be able to gauge experi¬
rate at which the Government could
borrow on an investment
basis, and we should then
be better able to formulate a financial
policy for the
future.”
mentally the
If this
proposition
were
to be
seriously pressed,
wTe
suppose that considerable conflict of
opinion would be
thing, it would necessarily create
two different classes of
Total week 491,100.846 103,000,080
outstanding Government bonds.
594,100,926 493,065,350 106.798,423 599,863,773
Prev. week 489,376,392 104,292,330
593,668,722 495,265,189 106,646,247 601,911.436
This objection might
conceivably not be material; it
might, indeed, as the Secretary hints, do some service
toward creating a genuine market for our
future
THE TREASURY REPORT.
Federal borrowings. But the other somewhat
awk^
The Secretary of the
Treasury’s report, suggests to ward consideration remains as to what
price Govern¬
mind the old saying,
Happy is the people which ment 3% bonds, without the circulation
privilege,
has no history.
That adage meant that national
_
of mind could be
2,108,333
6,325.000
4,373,000
5,003,000
1,669,000
peace
best attained in the absence of
and spectacular political events. Much the
developed.
For
could command
rentes
one
on
the open market.
French 3%
selling at present around 98, and this, al¬
exciting
though two or three points below the existing price for
same
may be said regarding the recent
our
Government 2 per cents, would
history in
probably be con¬
Treasury affairs. It is fortunate, alike for the peace sidered a
highly advantageous price. But the Im¬
of mind of the
Treasury officers and of financial perial German 3 per cents sell no
higher than 83.
markets, that the converging of excited
The reason for this
controversy
discrepancy between French
on this or that recourse or
policy by the Treasury has and German Government
bonds, as for the very low
not been witnessed these last two
There has price commanded
years.
by British consols, is that the
been no such
unwield}^ public surplus that currency German.
Government, like the Briitsh Government, is
was drawn
away from the money market at the
spending enormous sums in excess of public revenues,
moment that the market most
urgently needed it; con¬ and is a constant and lavish borrower for the
purpose.
sequently there have been no appeals from the market This is not true of French
finance,
but
with
our own
to the
Treasury for help, because it was well understood Panama Canal
experiment under way, it is notably
that the Treasury had no
help to give. This is quite true of the United States. Another not
wholly
as it should be under
normal conditions, and as it
pleasant
case in point is found in New York
City’s
would always be if
public revenue and expenditure bonds. At present the
city’s
4
per
cents
sell
around
were adjusted with
scientific foresight, as they are in 99 and its
A3 per cent New
Per cents below 87.
the budgets of
many great foreign Governments.
York City issue could, on the basis of
parity, hardly
The absence of discussion
regarding any such critical command as good a price as 80. There are doubtless
aspects of public finance as these diverts interest in causes in
the city’s market which do not exist in the
Secretary MacVeagh’s report to his treatment of topics market for national
bonds, and United States 3 per
collateral to the immediate
problem of Treasury cents would doubtless sell higher on their
merits;
administration. Regarding the question of deficit or but
the fundamental cause for the low
price of New
are
Deo. 10
knowledge that enormous borrowings
will continue, and this would manifestly be the case
with the United States securities.
York issues is the
guarded way to the
postal savings bank experiment. He admits that,
since 30% of such deposits may be invested in Govern¬
ment bonds, “it is possible that these bonds may find
a market through this new bank.”
But his report is
manifestly lacking in enthusiasm over the project, and
The
Secretary' refers in a very
of the experiment is that
the best that he can say
will be observed with
For ourselves, we are unable to do
the Secretary’s curiosity. Even at
its “economic effects
great
interest.”
more
than share
1541
THE CHRONICLE
1910.)
.
.
.
FEDERAL
POLICY IN ITS RELATION TO
BUSINESS.
in review the leading fea¬
tures of President Taft’s message.
What Mr. Taft
has to say, however, with reference to further legis
lation concerning the Inter-State Commerce Act and
In another article we pass
Law deserves
Anti-Trust
for it is of wide
the
separate
treatment,
bearing upon business interests. Care¬
reading of these portions of the Message would ap¬
pear to warrant the conclusion that the President has
learnt the lesson of the late elections, which in their
results indicated a widespread revulsion of public senti¬
ment against the policy of radicalism in politics which
in recent years has been permeating the ranks of both
ful
present time, we doubt if any one has any clear
as to what will happen when the scheme in the
half-baked form in which it passed the last session of the great parties,
the
idea
Congress is fully in operation.
Mr. MacVeagh’s remarks on the much-discussed
topic of economies in public administration are inter¬
esting and greatly to the point. He takes issue very
plainly with Senator Aldrich’s off-hand statement
that $300,000,000 could be saved in annual expenses
through a drastic system of retrenchment . The Secre¬
tary retorts, rather convincingly, that the Govern¬
ment’s entire ordinary expenditures last year were
and has almost completely taken
possession of the Republican Party. This tendency
towards radicalism and the revolutionary doctrines
embodied in it has caused serious disturbance to busi¬
ness.
The President now recognizes that it is time
to call a halt.
That is obviously a great point gained.
What is more, it affords genuine reason for encourage¬
ment as to the prospect of better conditions in that
particular in the future.
In the
sense
here indicated the Message may prop¬
$660,000,000, and that probably half of
these are permanent in character and not reducible at
all.
He therefore asks how $300,000,000 savings
could be made out of $300,000,000 expenditure. Per¬
haps the Secretaiy somewhat exaggerates this aspect
of the matter, but his remarks are not in any respect
framed in defense of relaxation in the policy of re¬
trenchment, and his further observation, that ex¬
cessive ideas of policy savings ought to be corrected
“in order that there may be some encouragement
given to those men, scattered through the depart¬
ments, who want to bring about all the improvement
erly be termed conservative. It will, perhaps, be
recalled that last year’s annual Message (which was
Mr. Taft’s first document of the kind to Congress) w'as
also considered conservative, but that shortly thereafter
the community w as shocked by the startling nature of
the legislative proposals which the President was urg¬
ing upon the attention of Congress. The reason for
obstructed until the Monetary Commission makes a
definite report.
Mr. MacVeagh declares that when
gress ever
less than
found in the fact
that the President had reserved out of the annual
Message, for consideration in special messages, the two
most important subjects with which he had undertaken
to deal, namely the. amendment of the Anti-Trust
the sudden reversal of
opinion
was
Law' and the revision of the Inter-State Commerce
possible,” is perfectly reasonable.
The Secretary speaks with much feeling on the ques¬ Law;. The President’s position with reference to
tion of currency reform; but he, like Mr. Schiff and these two measures wTas so extreme and aroused such
many other recent speakers on the matter, is obviously deep anxiety that trade activity wTas almost imme¬
handicapped by the fact that tangible discussion is diately interrupted and the reaction has been in pro¬
sight the establishment of a permanent,
banking and currency system, “it makes
one impatient to see it accomplished.”
With this, all
thoughtful students of our currency system will con¬
cur.
They will agree very largely, also, with the
Secretary’s statements that “we have no system of re¬
we
have in
safe and
sane
since. On the present occasion Mr. Taft
apparently holding nothing in reserve, and the cir¬
cumstance that the life of the present Congress ex¬
pires the 4th of next March, making the session neces¬
sarily a short one, w'ould preclude the possibility of
legislation in any event, since the time is too limited
is
for the purpose.
Entirely apart, however, from such considerations,
language of the Message make it clear
serves,” and that our present system “concentrates that the President has determined not to persist any
in New York what are pretended to be reserves, and
further in the course upon which he launched his Ad¬
then forces the New York banks to lend and abolish
ministration at the beginning of the previous session
them.” Perhaps this is something of an overstate¬ of
Congress. We need hardly say that neither the
ment of the case, but the further criticism, that there
present Message nor the preceding one contains any of
is now “no way of increasing our currency when it is the violent and
explosive language which marked the
needed, except under the Aldrich-Vreeland law, which utterances of his predecessor in office. Both mes¬
will soon expire, and which is only intended for
sages are hence conservative, in contradistinction to
emergencies,” is altogether sound. We wish we could the documents to which we had become accustomed
share the Secretary’s idea that financial panics in this at the hands of Mr. Roosevelt.
There is the further
country are solely a consequence of our currency sys¬ difference the present year that we are not left to mere
tem, and would be wholly avoidable if the system were conjecture for encouragement, but that there is ,a
to be remodeled.
But even when one admits that specific declaration of a purpose no longer to persist
in former policies.
our present system is ill-adapted for dealing with, and
We quote the following passages
from
the
concluding
portion of the Message. We put
moderating the phenomena of, a financial crisis, we
fear that the real cause of panics, like the real cause some of the words in italics so as to emphasize the por¬
of business fluctuations, will be found in human nature. tions of most significance and importance.
the tone and
1542
“I do not
THE CHRONICLE
now
Anti-Trust Law.
recommend any amendment to the
In other words, it seems to me
they had been advanced, following investigation, if it
unreasonable, reparation and dam¬
ages could likewise be awarded to the shippers who
had suffered by the advance.
There is no such
provision now with reference to the damages sus¬
tained by the railroads by reason of the fact that
higher rates are allowed only after the lapse of many
months, instead of at the beginning. It must be re¬
membered, too, that this will be the situation on each
occasion when necessity shall arise for
any advance in
transportation rates. The carrier cannot feel sure
that he will be permitted to make the advance until
after long delay, and in the end he
may fail anyway.
Under such circumstances it is not
surprising that con¬
fidence in railroad investments has been
seriously im¬
paired, that new loans can be placed only with great
difficulty and that investors feel disposed to hold
aloof.
On the other hand, the
inability of the rail¬
roads to find the means with which to
push new exten¬
sions and go ahead with
improvement work, and the
further fact that they are
obliged to curtail their ordi¬
nary outlays (since they cannot secure the added reve¬
certainly did exist, and which roused the public to
demand reform. If this test develops a need for
further legislation, well and good; but until then let us
execute what we have.
Due to the reform movements
of the present decade, there has undoubtedly been a
great improvement in business methods and standards.
The great body of business men of this country, those
who are responsible for its commercial
development,
now have an earnest desire to
obey the law and to
their conduct of business
and limitations.
to its requirements
These will doubtless be made clearer
by the decisions of the Supreme Court in
ing before it.
cases
pend¬
“I believe it to be in the interest of all the
people
of the country that for the time being the activities of
Government, in addition to enforcing the existing law,
be directed toward the economy of administration
and the enlargement of opportunities for
foreign trade,
the conservation and improvement of our
agricultural
lands, the building up of home industries and the
strengthening of confidence of capital in domestic in¬
vestment.
Note the
expression of opinion [on the part of the
President that existing legislation has reached a
point
where it is time to stop for a while and enforce exist¬
ing statutes rather than undertake to enact any more.
What could be more comforting or
assuring than that?
It is a pity that the
President, evidently so genuinely
desirous of promoting the public
welfare, should not
have adopted this attitude at the
beginning of his Ad¬
ministration, instead of embarking upon the destructive
policies inaugurated by his predecessor. Suppose that
a halt in new
legislation had been called before the InterState Commerce Law was amended and the InterState Commerce Commission invested with
despotic
and destructive power over railroad
LXXXXI
found the advance
that the existing legislation with
reference to the regu¬
lation of corporations and the restraint
of their business
has reached a point where we can
stop for a while and
witness the effect of the vigorous execution of the laws
on the statute books in
restraining the abuses which
square
[VOL.
needful to sustain permanent additions to their
expenses), has led to such a diminution of railway or¬
ders for supplies, materials,
nue
equipment, &c., that these
seriously crippled—
being found in the
lethargic state of the iron and steel trade to-day.
branches of industrial activity are
evidence of the crippling process
On this matter of the fair treatment of the
the President’s attitude is not as
'
be.
railroads,
assuring as it might
He takes
pains to point out that the amendments
Commerce Law, as made the present
year, do not embody all of his specific recommenda¬
tions, the things missing being more particularly the
prohibition of purchase by a parallel and competing
road of the stock of another road, and the
right of the
Inter-State Commerce Commission to
regulate new
to the Inter-State
stock and bond issues.
It is true Mr. Taft declares
rates, and before he does “not press the consideration of any of these
the enactment of the Federal
Corporation Tax, would objects upon Congress at this session,” yet he does
urge
business to-day be in the
doldrums, and industrial the making of an appropriation to enable the Interactivity everywhere be paralyzed, with confidence State Commerce Commission to undertake the
physi¬
steadily on the wane and no one disposed to engage cal valuation of all railroad
the
properties in
country.
in
new
ventures because of the
many
doubts and
un¬
What could be
more
certainties
chimerical
or more
absurd?
The
confronting the business world?
only purpose such a valuation could serve would be
Consider the pall that hangs over the railroad
world that it might supply the Commission with a further
to-day because of the power given the Commission to instrument for
reducing rates. If the valuation
suspend proposed advances in railroad rates—a power
proved higher than the capitalization of a road, the
of which it has availed with so much
freedom and Commission, we may be
sure, would find some reason
without the slightest
compunction for the interests for refusing to be bound by it. They would
probably
Of the railroads.
Confronted with a tremendous in¬
in expenses, railroad
managers are no longer
left free to take care of the same in the usual
way—
crease
by making a moderate advance in transportation
charges. The rise in expenses went into immediate
effect, but the revenue to meet it cannot be obtained
except after long delay, if it is obtained at all, and after
interminable wrangles with shippers and the Com¬
mission. If in the end permission is obtained
to
make some advance it will be
given grudgingly, and
in the meantime the roads will have
sustained
mous losses, an attest of which is
found in the
returns
as
they
enor¬
monthly
claim that the increased valuation had
a result of the
application of surplus
come
about
as
earnings, and
that the roads wore never entitled to have
any
surplus
the
earnings. If,
contrary, the valuation should
less
than
prove
the capitalization, they would have a
plausible reason for cutting rates still lower. Thus
the effect would inevitably be to create further un¬
on
easiness at
a
time when what is needed above every¬
thing else is relief from the existing well-grounded anxi¬
ety. Rates are not determined, any way, by capitali¬
zation or valuation. It is competition that controls
rates.
hand from day to day.
But if there is no assurance that the railroads are
The roads have
absolutely no redress against this to have fair treatment, at least it is gratifying to have
situation, and it is a wholly new development, full the President say
that “legislation with reference to
of continued
danger. Under the old state of things, the regulation of corporations and the restraint of
where the Commission could order rates
reduced after their business has reached a point where” the Ad-
come to
Dec. 10
1543
THE CHRONICLE
1910.]
The words “regulation late years been carried forward to international
of corporations and the restraint of their business” in¬ prominence and responsibility.
The subject of economy brings in a tabular statedicate accurately the situation under which the coun¬
men of estimates for the next two fiscal years, with in¬
try has been laboring for so many months. Business
has been restrained by legislation—purposely re¬ crements and decrements in comparing estimates with
strained—when it should have been expedited and estimates and with appropriations. The array of plus
advanced.
It is well to have the admission from the and minus signs is more interesting than conclusive,
President himself. The President, we grieve to say, unless conclusive about the great difficulty of getting
It is
is casting a slur upon the integrity of those engaged economy out of the abstract into the concrete.
in mercantile pursuits when he ventures the further pointed out that the Treasury has grown by accretion
instead of system, thus involving duplications and
statement that “the great body of business men
The wastes; that the customs service also involves those
now have an earnest desire to obey the law/’
“great body” have always had a desire to “obey the and might well be brought under retrenchment with¬
law.”
There is not now, nor has there ever been, out loss of efficiency; that as to the mints, the public
greater lawlessness in the business world than in other printing and public buildings the same is true. This is
walks of life.
The impression that there has been, is certainly so; it can be emphatically said of the huge
founded on the circumstance that such unlawful acts waste in printing and the vast abuse of franking
as have come to light in business
channels (for we which is closely conjoined with that; and when the
have not reached the millenium there any more than suggestion of a one-cent rate on letters is reached
elsewdiere) have been given undue importance and again, coupled with a recommendation of a pareelsexploited for the advantage of notoriety-seeking poli¬ post and mention of an increase on second-class
ticians, who have sought thereby to gain favor with matter as a mode of keeping down the annual deficit,
the populace.
The President touches upon another the free mail matter (which, of course, stimulates
factor in the problem when speaking of the desire to waste in printing) seems the proper subject for the
obey the law and to square the conduct of business pruning-knife. Without stopping to discuss the
“to its requirements and limitations,” he takes pains pareels-post, it is questionable whether that falls
to state that these requirements and limitations “will under the dissemination of intelligence which is the
doubtless be made clearer by the decisions of the Su¬ fundamental purpose of the mail service.
The subject of the tariff is discussed at length, the
preme Court in cases pending before it.”
Some of the
supposed law-breakers among business men (if they only positive suggestions being for delay, for a per¬
manent commission of inquiry, and for touching only
are transgressing the law at all) are violating it simply
ministration is
ready to stop.
.
because
no one
understands it
or
is able to conform to
authoritative determination of its scope
and provisions is forthcoming.
This aside, it is pleasing to note that the President
is now on the right track. If he persists in this course
he may be able to make amends for the mischief al¬
ready done by his part in giving effect to the Roose¬
velt policies.
He is absolutely correct when he says it
is “in the interest of all the people of the country that
for the time being (why for the time being alone?) the
activities of Government, in addition to enforcing the
existing law, be directed to the economy of administra¬
tion and the enlargement of opportunities for foreign
trade, the conservation and improvement of our agri¬
cultural lands, the building up of home industries and
the strengthening of confidence of capital in domestic
investment.” These are all essential requirements,
and the most important one of the lot is the “strength¬
ening of confidence of capital.” No one can fail to
see that we have moved measurably towards a better
state of things to have the President recognize the
it, and
no
fact.
one
time, lest business be disturbed. It
assumed, on one side of this subject, that
schedule at
seems
to be
a
upward revision may properly be accomplished
suddenly, but that any downward changes are liable
to produce shock and halt in business.
Yet all sound
judgment will join in the hope, attributed to the
an
permanent sitting Commission, “that
the question of a rate of duty imposed shall become
advocates of
a
question and less of a political ques¬
tion, to be ascertained by experts of long training and
accurate knowledge.”
And these paragraphs from the
Message will be widely approved, in its spirit at least:
more
of
a
business
impartial scientific study by experts
preliminary to legislation, which I hope to see
ultimately adopted as our fixed national policy with
respect to the tariff, rivers and harbors, water-ways
and public buildings, is also being pursued by the non¬
partisan Monetary Commission of Congress. An ex¬
haustive and most valuable study of the banking and
currency systems of foreign countries has been com¬
pleted.
“A comparison of the business methods and institu¬
tions of our powerful and successful commercial rivals
“The method of
as
a
with
our own
is
sure
to be of immense
value.
I urge
Congress the importance of a non-partisan and
disinterested study and consideration of our banking
and currency system.
It is idle to dream of commer¬
cial expansion and of the development of our national
trade on a scale that measures up to our matchless
upon
THE PRESIDENT’S MESSAGE.
The document is of
and
half
great length, filling about three
ordinary newspaper pages. More than a
half-page is given to our foreign relations, and this
very wide and varied review receives unusual promin¬
ence
by coming at the beginning. The fisheries
question, lately before the Arbitration Court at The
Hague, the outlook for general peace through a per¬
manent peace commission, limitation of armaments—
these are the opening topics, without any expressed
hint of a possible disarmament. The United States is
at peace with the world, yet this
unusually extended
statement reminds us how
greatly our country has in
a
opportunities unless
sound and
The problem
a
we can
lay
a
solid foundation in
enduring banking and currency system.
is not partisan, is not sectional—it is
national.”
Organized labor receives its usual, and possibly un¬
avoidable, sop by recommendation for enlarged appli¬
cation of the eight-hour law, by proposing an invita¬
tion' to an international congress, to sit in Washing¬
ton, concerning workmen’s compensation, and by a
renewed recommendation for a law to limit issue of
1544
THE CHRONICLE
(VOL
LX XXXI.
injunctions without notice; the latter suggestion also road, industrial and financial development in the
revives the
old, indefinite talk of abuses hitherto prac¬
ticed, and the recommended limitation, says Mr. Taft,
would remove all excuse for some very radical legis¬
lation urged by some, which legislation would “sap
the foundations of judicial power and legalize that
cruel social instrument, the secondary boycott.”
On the other hand, in a paragraph urging relief of
the Supreme Court from unnecessary appeals, so that
it may have time for other duties, we find the remark
that its chief and proper usefulness is “so to expound
the law—and especially the fundamental law, the
Constitution—as to furnish precedents for the inferior
courts in future litigation and for the executive officers
in the construction of statutes and the performance of
their legal duties.” Here appears the judicial train¬
ing and temperament from which Mr. Taft cannot go
far.
Of the
Corporation Tax, he says it has worked well
easily collected; that “it offers, moreover,
an opportunity for knowledge, by the Government,
of the general condition and business of all corpora¬
tions, and that means by far the most important part
of the business of the country.” Upon this no com¬
ment is at present needed beyond the statement
which we have frequently made that, as this Corpora¬
tion Tax Law includes the small, private corporation
operating entirely within State boundaries, and seeks
to reveal the private affairs of such, it is a dangerous
invasion of the rights of the individual, as well as of
the State.
It remains to be seen if the Supreme Court
and has been
will sustain it.
Recommendation of the enactment of
Chinese
Empire. “It is gratifying to note,” says the
President, “that the negotiations for a loan to the
Chinese Government for the construction of the trunk
railway lines from Hankow southward to Canton
through the Yangtse Valley, known as
the Hukuang loan, were concluded by the representa¬
tives of the various financial groups in May last, and
the results approved by their respective governments.
The agreement, already initiated by the Chinese Gov¬
ernment, is now awaiting formal ratification.” After
recalling the attempt of Secretary Knox to secure the
lines westward
“internationalization and commercial neutralization
of all the
railways of Manchuria,” the President dwells
upon the assistance rendered by the Government in the
successful negotiations by American bankers to float
a $50,000,000 loan for China.
Because of the im¬
portance of this project, because of the chain of events
it will start, because of the fundamental change in¬
volved in China’s attitude towards foreign super¬
vision of her expenditures, President Taft’s declara¬
tion on the subject is worth reproducing here in full:
This policy has recently found further exemplifica¬
tion in the assistance given by this Government to the
negotiations between China and a group of American
bankers for a loan of $50,000,000, to be employed
chiefly in currency reform. The confusion which has
from ancient times existed in the monetary usages of
the Chinese has been one of the principal obstacles
to commercial intercourse with that people.
The
United States in its treaty of 1903 with China obtained
a pledge from the latter to introduce a uniform na¬
tional coinage, and the following year, at the request
of China, this Government sent to Pekin a member of
the International Exchange Commission to discuss
general
incorporation law as to all corporations in inter-State with the Chinese Government the best methods of
commerce is renewed, without further remark—which
introducing the reform. In 1908 China sent a com¬
is accepted as implying a determination not to push the missioner to the United States to consult with Ameri¬
can financiers as to the possibility of securing a large
matter.
loan with which to inaugurate the new currency sys¬
The remarks on the attitude of the Government
tem, but the death of their Majesties the Empress
towards railroads and on the subject of further legis¬
Dowager and the Emperor of China interrupted the
lation regarding corporations we have discussed in a negotiations, which were not resumed until a few
previous article. As there noted, the Message con¬ months ago, when this Government was asked to
cludes with the opinion that matters are at a point communicate to the bankers concerned the request of
China for a loan of $50,000,000 for the purpose under
“where we can stop for a while and witness the effect
review.
A preliminary agreement between the Ameri¬
of the vigorous execution of the laws on the statute can
group and China has been made covering the loan.
books” at the present time.
For the success of this loan and the contemplated
This accords with the pacific tone of the document reforms, which are of the greatest importance to the
commercial interests of the United States and the
throughout
There is an entire lack of denunciation
civilized world at large, it is realized that an expert
and there is no intemperance of language.
If the sub¬ will be necessaiy, and this Government has received
stance is not entirely satisfying, the manner does not
assurances from China that such an adviser, who shall
disappoint If the document is not as encouraging in be an American, will be engaged.
some respects as might be wished, it is not
The appointment of an American as a financial ad¬
disquieting.
It does not show reaction from intense radicalism; but viser
to China has not yet been made, and any one who
no more of that is proposed; on the
contrary, the last has followed the tortuous ways of Oriental diplomacy
words are an appeal for “the building up of home in¬ will
regard the actual appointment as vastly more
dustries and the strengthening of confidence of capital
important than the promise. China’s European cred¬
n domestic investment.”
itors have before now striven to secure just such a
a
.
.
safeguard, but wholly without success, notwithstand¬
ing that their interests are very much greater than ours.
Will America be more favorably treated?
The establishment of direct financial relations be¬
Admittedly the present authorities in Pekin are
tween the Chinese Government and powerful American
especially friendly towards the United States, a not
capitalists is attracting attention throughout Europe, unnatural fruit of our considerate, even indulgent,
in the Orient and at home.
President Taft, in his attitude towards the Empire during the last quarter
lengthy message to Congress, which we comment upon of a century; yet the Chinese are peculiarly jealous
in the article,above refers approvingly to the progress of their independence in monetary matters, their
made by our bankers, cordially supported by the ways are not our Western ways, and they argue, if
Government, in supplying funds necessary for rail¬ once an inch of authority be granted a foreigner, what
CLOSER FINANCIAL RELATIONS WITH
CHINA.
Dec. 10
1545
THE CHRONICLE
1910.]
The assurance from the Chinese capital that “it seems
guaranty have they that he will not usurp an ell?
safe to announce that the ancient absolute regime in
Furthermore, the feelings of Great Britain particularly
China will exist only historically after the Chinese New
and of other European nations having large invest¬
be considered. Will they Year next February,” should be received with reserve,
as events seldom move in the Orient with Occidental
acquiesce in the selection of an American to super¬
swiftness.
So fundamental a reform is likely to be
vise Chinese expenditures, even though the supervision
carried out without haste. The important point,
ostensibly is confined to capital raised by American
bankers and those associated with them? The point however, is that there is now every sign that it will be
is beset with delicate considerations, and before an inaugurated with reasonable celerity.
ments in
China have to
arrangement agreeable to all parties can be devised, a
good many weeks will probably elapse—we would not
be astonished were the matter to drag along in an
undecided way for months.
That there is need for outside
supervision of China’s
handling of moneys supplied by foreign bankers no
one at all familiar with the Celestial Empire’s history
can for a moment doubt.
Money has an unfortunate
habit of shriveling up between its release from the
national treasury and its ultimate disposition in pay¬
ment for services rendered, a habit, unhappily, not
RAILROAD GROSS EARNINGS
NOVEMBER.
FOR
earnings are showing diminishing
taking the roads collectively, and in
separate instances are recording losses. The
Railroad gross
amounts of gain,
many
is of importance as indicating unfavorable
statements of net earnings, inasmuch as recent monthly
matter
returns
make
it evident that substantial
gains in
in order to offset the
confined to China. Perhaps less opposition will be large augmentation in the expense accounts of
offered to the appointment of an American adviser the roads arising chiefly out of recent advances in
than to a representative of any leading European wages.
The compilation we present to-day covers the month
Power, on the theory that this country cannot for an
instant be suspected of designs in the way of territorial of November and comprises the roads which make it
a practice to furnish early preliminary returns of their
aggrandizement in the Orient .
Altogether, 45 roads contribute
The necessity for reform is widely recognized gross revenues.
returns,
aggregate of 87,809 miles of line.
operating
an
throughout the Empire, as well as in Europe; hence,
the selection of
an
gross revenues are
American for the duties mentioned This is in
might be a feasible compromise. Inasmuch as an
agreement has been entered into between our bankers
on the one hand and those of Great Britain, France
excess
necessary
of one-third the railroad
mileage of
included,
the country, but three Canadian systems are
the bulk of whose mileage lies outside the
United
States.
Altogether, the roads reporting show an
and Germany on the other, providing for the partici¬ increase of $1,6S0,055 in their gross receipts as com¬
pation of these countries in any future Chinese loans pared with the corresponding month last year, the
awarded America, there could not be any well-grounded ratio of gain being only 2.48%. Thirteen of the roads
Trade activity has been
fears of discrimination against European interests and have sustained losses.
in favor of America.
As an able correspondent of the diminishing, but it is open to question whether the less
London “Times” points out: “It cannot be stated too favorable comparisons can to any appreciable degree
emphatically that, in the present condition of the be attributed to that circumstance. The truth is,
Chinese Government, the best interests of that coun¬ the companies furnishing early returns consist chiefly
of grain-carrying roads in the West, and cotton-carrying
try and of foreign investors alike will best be served by
roads in the South, while the contraction in trade has
rigid insistence on the clearest possible definition of
the purposes of foreign loans, and the provision of been felt chiefly in the great manufacturing districts
effective safeguards to ensure their fulfilment. The of the Eastern and Middle States.
The cotton traffic in the South was of heavier
experience of the past two years alone suffices to
volume than a year ago, but not up to that of two years
prove beyond all doubt that a continuance of the
policy of foreign finance in the Far East cannot fail ago. On the other hand, the grain traffic in the West
to lead China, and therefore her creditors, into seri¬ suffered a great shrinkage, and it would appear that
the loss in earnings on the roads running through the
ous difficulties.”
The United States stands ready to deal fairly with grain districts has been due to that cause rather than
China in the future as in the past, and the willingness to a slackening of general trade. At all events, the
of our financiers to share with European bankers the falling off in the Western grain movement was of large
privilege (for so it is esteemed) of supplying the dimensions. The deliveries of corn—in the aggregate
awakening Empire with capital is a guaranty that we and at some of the separate primary points—were
have no desire to steal a march over what may be larger than last year, but in the case of the other
termed the financial nations of Europe. Jealousy of cereals,and more particularly wheat, oats and barley,
Combining wheat,
America should not be allowed to stand in the way of there was a heavy falling off.
urgently-needed reform in China, where European com, oats, barley and xye the deliveries of grain at the
Western primary markets for the four weeks ending
investors have so much at stake.
Yesterday’s cable dispatches from Pekin, announc¬ November 26 reached only 50,910,849 bushels, as
ing that “The Throne” has decided to grant the de¬ against 61,428,334 bushels in the corresponding four
Besides this, there was a shrinkage
mand of the Imperial Senate for the immediate crea¬ weeks of last year.
tion of a Constitutional Cabinet, justify the assump¬ in the receipts of flour, these having been only
tion that the Chinese authorities are alive to the neces¬ 1,467,342 bbls. in the four weeks this year, as against
sity for abandoning the antiquated methods of their 1,848,616 bbls. in the four weeks last year. The
ancestors and placing the administration of national details of the Western grain movement in our usual
affairs on a more democratic and businesslike basis. form are set out in the following:
1546
THE CHRONICLE
WESTERN FLOUR
Four weeks
AND
GRAIN
RECEIPTS.
Ending
Flour.
Nov. 26.
Wheat.
Corn.
(bbls.)
Oats.
(bush.)
(bush.)
(bush.)
649,026
793,667
1,164,500
2,055,200
7,139.750
5.184,550
6,172,800
7.039.550
2,037,000
3.094.027
101,000
164,000
294,300
444,250
1,722,290
1,000,500
238,430
154,000
865,800
1,102,500
1,675,800
1,779,400
103,620
107,000
226,020
262,475
1,683,068
1,666,330
798,995
1,189,120
1,751,000
1,212,800
393,400
287,300
27,635
29,090
216,800
368,000
228,200
380,900
304,500
142,800
19,409
27,195
168,721
175,599
397,781
102.028
163,569
146,558
6,307
6,769
93,433
25,024
514,642
508,705
208,135
381,256
2,167
77,408
165,800
262,020
91,000
85,805
1,178,130
1,155,469
555,938
464,346
400, S00
304,452
31,000
13,700
103,480
52,240
3,274,221
8,823,909
72
77,585
6S3.673
1,277,652
1,919,349
38,986
115,586
7,830,739
10.521,690
716,230
304,590
1,227,240
1.673.6C0
2,265.340
2,395,790
159,780
303,590
713,200
776,600
352,090
Chicago—
1910....
1909
Milwaukee—
1910
1909
St. Loui
Barley.
(hush.)
1909
Toledo—
1910
1909
Detroit—
1910
1909
Cleveland—
1910
1909
Peoria—
1910
1909
Duluth—
1910
1909....
Minneapolis—
1910
1909....
Kansas City
!
1910
1909
2,543,900
2,992.540
—
1910
1,467,342
1,848,616
1909
Jan. 1 to
Nov.26.
18.788.672
27,714,597
$434,030 to its earnings of last
512.300
11,925,430
9,755,982
11,678,557
13,359,383
8,052,159
9,857,726
466,021
.740,666
Rye.
(bush.)
Flour.
Wheat.
Corn.
(bbls.)
Oats.
(bush.)
(bush.)
(bush.)
7,424,145
7.822,352
26,698,900
24,949,992
87,288,550
79,623.971
90,695,300 22,180,900
960,000
81,457,176 23,815,276 1,263.850
1910
2,872,79S
1909
3 113,608
9,644,850
7.248.305
6,726,070
5,709,700
11,420,650 12.617,693 1,265,280
8,319,600 12,475,200
967,900
2,410,355
2,449,390
17,758,096
19,600,407
19,810,682
18,576,465
19,976,470
16,823,065
2,532,400
3,990,600
3,975,400
3,551,100
3,052,100
3,740,150
3,122,000
1,000
5,655
214,155
162,899
1,568,722
1,829,306
2,648,745
2,030,584
2,310.234
2,097,089
82,352
60,771
734,345
471,507
4,460,741
4,338,490
4,846,092
6,955,441
79,660
363,295
7,242
25,157
2,590,012
2,073.398
1,157,264
1,252,585
14,427.482
13,206,055
11,836,535
7,635,657
2,350,829
2,388,840
352,592
286,100
5,574,268 10,303,417
4,471.869 9,200,353
453.403
542,948
Chicago—
1910
1909
Milwaukee—
St. Louis—
1910
1909
Toledo—
1910
1909-...
Detroit—
1910
1909
Cleveland—
1910
1909
Peoria—
1910
1909
Duluth—
1910
788,485
3,049,560
1999
28,785,242
48,435,230
918,851
1,275,808
89,251,359
72,510,960
7,939.451
4,668,985
38,868,050
31,496,190
14,534,450
9,779,880
Minneapolis
1910
1909
Kansas City1910
1909
—
running in excess of $1,000,000 a month. For
November the gain is only $331,000. No American
road included in our list has a
gain as large as this.
The Missouri Kansas & Texas
4,000
7,700
■
Barley.
(bush.)
1,767,965
286,523
220,913
110,650
187,000
1,000
17,298,528 19,060,267 1,707,650
13,111,889 18,497,544 2,376,695
4,198,400
5,774,300
Total of all—
1910
] 16,382.302 218,457.428 162,306,122
171.896,657 68,361,731 5,143.340
1909
18.731,978 211,769,882
142,262,038 149,768,086 69,278,563 5,872,163
It will be observed from the
of the decrease in the
LXXXXI
Canadian Pacific is concerned, has been to make the
improvement in the earnings of that road smaller than
we have been
accustomed to see it in the past.
On
account of the wonderful
expansion and development
which is going on in the Dominion of
Canada, the
gains of the Canadian Pacific, until lately, have been
Rye.
(bush.)
—
1910
[VOL.
nominally added
year,
but $109,800 of
this is due to the inclusion of the Texas
Central the
present year but not in 1909. The
following shows
all changes for the
separate roads for amounts in
excess of
$30,000, whether increases or decreases:
PRINCIPAL CHANGES IN GROSS EARNINGS IN
NOVEMBER.
Canadian Northern
IHCT6CIS6S
$434,030
331,000
240,228
233,092
221,800
14 5,168
105,183
99,267
93,500
87,358
82,300
77,223
y69,915
47,900
j/These figures
for three weeks only.
Missouri Kansas & Texas.
Canadian Pacific
Louisville & Nashville.__
Southern Railway
Illinois Central
St Louis Southwestern
Seaboard Air Line
Yazoo & Mississippi Vail.
Denver & Rio Grande
Texas & Pacific
Central of Georgia
Mobile & Ohio
Chesapeake
The
& Ohio
are
losses, it will be
from the
<
•
grain-carrying
roads make
a
St.
Southwestern
Buffalo Roch & Pittsburgh
Representing 15
our
IilCT€QS€S.
$32,007
roads in
compilation
$2,300,031
T)prr(>n<ip*
Great
Northern
Minneap St Paul & S S M.
Minneapolis & St Louis._
Iowa Central
Missouri Pacific
Representing
our
$437,150
116,863
59,730
54,213
44,000
5 roads in
compilation
$711,956
almost entirely
roads, while the Southern
seen,
come
very good showing on account of their
larger cotton traffic. Titus, the Louisville & Nashville
has forged ahead of last year in the sum of
$240,228, the
Southern Railway in amount of
$233,092 and the
Louis
$145,168.
The
gain of
$221,800 by the Illinois Central may also doubtless
be attributed in large measure to the same
circum¬
stance,
that road has
as
a
line to New Orleans.
The cotton
shipments overland during November
305,504 bales, against 246,126 bales in
November 1909, while the
receipts at the Southern
outports amounted to 1,673,039 bales, as against
1,292,983 bales in the month last year. But though
the cotton movement ran
considerably in excess of
1909, it fell far below the movement in 1908, as already
stated.
This fact is brought out in the table we now
1910 reached
foregoing that the bulk insert.
grain movement was in the RECEIPTS OF COTTON AT SOUTHERN PORTS IN NOVEMBER
AND FROM
JANUARY 1 TO NOVEMBER 30 1910, 1909 AND 1908.
wheat deliveries. Of this loss the
greater part in turn
was at the
spring-wheat points, especially at Duluth
November.
Since January 1.
Ports.
and
Minneapolis.
At the former
centre the
receipts
only 3,274,221 bushels, against 8,823,909
bushels, and at the latter point 7,830,739 bushels,
against 10,521,690 bushels. The losses here have
undoubtedly followed from the diminished yield of
spring wheat in the Northwest. The contraction in
the shipments is reflected in the
very notable decreases
in earnings reported
by the spring-wheat roads of the
reached
1910.
Galveston
bales
Port Arthur, &c
New Orleans
Mobile
Pensacola, &c
Savannah
Brunswick
Charleston
_
.
_
.
.
Georgetown
Wilmington
Norfolk
—
-
—
Newport News, &c
Total
476,956
86,244
3 35,474
52,364
27,333
273,766
45,445
76,424
1908.
496,980
28,866
226,750
44,773
57,553
208,368
43,390
32,670
372
253
105,491
162,287
50,820
98,076
4,484
883
...
1909.
1910.
1909.
1908.
738,073 2,435,454 2,714,374 3,058,297
26,523
306,112
301,964
128,042
423,866 1,207,993 1,467,857 1,748,358
75,629
210,460
284,983
302,194
31,049
104,136
196,083
148,290
247,343 1,111,797 1,425,155 1,264,673
44,422
145,658
277,942
1S1.159
35,417
234,024
224,884
162,477
485
1.448
1,963
1,311
76,143
316,857
352,269
379,268
130,141
493,752
510,187
468,445
616
8,990
21,891
6,944
1,673,039 1,292.983 1,829,707 6,576,691 7,779,352 7,849,458
Northwest. We may mention as instances
the
One reason why the earnings returns are less favor¬
Great Northern Railway, which has fallen
$437,150 able now than in the earlier months of the year is
behind, and the Minneapolis St. Paul & Sault Ste that
comparison is now with heavy totals last year.
Marie, which has fallen $116,863 behind. Besides In
November 1909, our early preliminary
compilation,
these, the $59,730 loss sustained by the Minneapolis
comprising
substantially
the
same
roads
now
in¬
& St. Louis and the
$54,213 decrease by the Iowa cluded, recorded a gain
of no less than $7,515,357,
Central
may
be ascribed
Great Northern
no
to
the
doubt also lost
same
cause.
The
or
12.91%.
This followed
a
loss in 1908, but the loss
heavily in its pas¬ then was small, reaching only $1,804,233, or not
quite
senger traffic, as last year this was of
exceptional pro¬ 3%. Prior to 1908, the record had been one of con¬
portions because of the Alaska-Yukon Exposition at tinuous
gains year by year ever since 1896, as may
Seattle.
be seen from the following
summary, showing the
In Canada, too, the 1910 wheat
yield was consider¬ aggregates back to that time according to our
early
ably reduced, but the only effect of this, as far as the tabulations for each of the
years.
Gross
Mileage.
Year.
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
122
126
114
117
105
100
74
70
68
....
....
55
69
56
51
45
45
Jan. 1
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
89,936
96,391
89,367
98,684
97,494
103,453
90,106
86,742
84,002
83,677
97,240
74,439
79,108
81.218
87,809
39,415,623
50,213.481
47.777,989
59,800,183
59,169.448
68,966,766
62,023,087
60,220,508
63,536,601
71,044.232
87,119,750
54.770,493
59,940,539
65,522,732
3.04 69,828,448
No v. 30.
116
88,629 87,907
119
95,150 93,873
114
89.367 88,235
110
96,867 95,172
103
96,630 93,195
93
102,492 100,995
74
90,106 88,251
70
86,742 84,573
67
83,968 82,393
55
83,677 81,709
69
97,240 94,861
55
74,037 72,766
50
78,706 77,116
44
81,008 79,378
45
87,809 85,221
to
....
....
....
....
57.983,250
57,887,073
57,818,885
65,109,098
83,250.084
53.425,317
61,744,772
58,007,375
68, 38,393
—4,772,556
+ 8,695.984
+ 1,944,211
+ 5,650,284
+ 1,316,021
+ 7,706,629
+ 4,039.837
+ 2,333,435
+ 5,717,716
+ 5,935,134
+ 3,869,666
+ 1,345,176
—1,804,233
+ 7,515,357
+ 1,690,055
Alabama Great Southern
Atlanta Birm & Atlantic.
Buffalo Roch & Pittsb...
Canadian Northern
Canadian Pacific
Central of Georgia
Chesapeake & Ohio
Chicago & Alton
Chicago Great Western..
Chicago Indianap & Louis
494,195
797,745
1,581,379
2.153,000
1/78.808
1,570,546
2,059,500
y64,244
Detroit & Mackinac
Detroit Toledo & Ironton
Ann Arbor
Duluth vSou Shore & Atl_
163,379
187,861
260,085
complete our analysis we now annex six-year
comparisons of the earnings of leading roads, arranged
in groups.
1910.
November.
1909.
1908.
1907.
S
S
S
S
Canadian Pac.
Chic Gt West*
Dul So-Sh & At.
Gt Northern..
Iowa Central..
Mlnn\fc St L._
M StP&SSM a
GROUP.
NORTHWESTERN AND NORTH PACIFIC
OF
260,085
5,698,315
254,137
432,397
2,004,763
S
S
6,234,583
791,613
249,728
5,142,301
276,579
315,651
1,709,067
8,918,000 7,303,303 6,953,967
915,490
715,391
1,064,253
•
258,786
232,191'
263,784
6.093,554
55,673,562
66,135,465
253,047
233,686
308,350
351,208
363,531
492,127
2,121,626 1,730,388 1,709,286
9,249,000
1,053,518
5,741,543
782,204
249,242
5,240,083
_
Total
.
270.520
341,949
1,752,625
a
x
November.
§5
MIDDLE AND
14,719,522jl4,378,166
481,445
Total’
P>
744,299
495,240
3.545.458
3,934,548
3,760,72S
3,446,074
5,126,767 a5,074,164
88,533
90,207
301,899
353,044
2,529,408 2.0S1.345
5,313,028
4,630,897
107,962
344,548
2,219,101
4,588,622
.
3,839,761
Can ’Atlantic J
Illinois Central 5,348,567
Tol Poor & W.
103,847
Tol St L & W.
326,474
Wabash
2,551,636
&
433,785
752,748
487,877
-
GrjTrk West 1-3.845.640
Det G H & M 1
i*
•
Embraces, beginning with
In monthly returns.
a
this
93,937
351,338
2,127,700
116,357
367,394
2,080,981
12,073.129 12.992,357 12,303,861 11,818,967
13,491,188jl3,234,894
■
$
S
$
754,546
417,260
547,945
801,512
494,195
[833,579
November.
Ala Gt Sou
Ala N O & T P
fs-
N O & N E.
1910.
S
382.558
C296.052
S'Ala & Vicks
cl57,753
Vicks Sh & P
C133.881
Atl Birm & Atl
249,341
Central of Ga. 1.199,700
&
Ches
Ohio.. d2,703.767
CIn N O & T P
*<'>*,639
Lou & Nash.ft 4,780,925
Mobile & Ohio “1.001.566
Seaboard Air L
1.839,890
Southern Ry._ 5,322,337
Yazoo & M V. 1,174,392
“
Sf
year, some
large Items of Income not
OF
previously
1909.
S
SOUTHERN GROUP.
1908.
1907.
1906.
$
S
s
•
1905.
S
■
295,711
323,637
327,619
337,009
281,639
296,052
148,156
157,753
127,442
133,861
189,803
239,702
1,117,400 1,008,065
2,118,133
2,657,437
625,508
797,745
4,540.697 3,863.382
880.432
924,343
1,734,707 1,484,200
5,089,245 4,465,162
1,075,125 ol, 146,398
276,044
148,238
141,638
162,663
1,130,379
2,458,019
702,161
3.912,611
858,494
1,340,075
4.622.207
996,107
250,430
134,172
141,942
130,121
1,059,676
275,582
133,936
126,102
80,901
388,682
2,111,236
1,046,833
2,033,482
1,388,093
4,724,443
1,282,559
4,597,838
899.200
896,998
672,783
678,768
4,118,887 3,651,805
840,559
844,93#
20,050.831 19.132.749 16,634,031 17,072,273
Total
16,809,521 15,976,387
Includes, beginning with this year, some large items of Income not previously In¬
b Includes Louisville & Atlantic and the Frankfort &
Cincinnati In 1910 and 1909.
c Month In 1910 not yet reportd; taken same as
a
cluded In monthly returns,
ast year,
d Fourth week not yet reported; taken same as
EARNINGS
OF
GROSS EARNINGS
Name oj
1910.
$
Colo & South*
Den & Rio Gr.
Int & Gt Nor.
Mo Kan & T.a
Mo Pacific
St L & Sou W.
Tex & Pac....
Total
*
1.581,379
2,153.000
872,000
2,867,469
4,613,000
1,227,617
1,687,042
last year.
1909.
1908.
1907.
1906.
$
$
S
$
1,570,546
2,059.500
856,000
2,433,439
4,657,000
1,082,449
1.599,684
1,437,267
1,836,889
834,642
2,318,061
4,006,075
1,022,037
1,517,794
1.422,672
1.858.378
606,217
2,018,059
3,819,501
875,623
1.386.379
Includes all affiliated lines except Trinity & Brazos
616
336
2,031
2,553
1,980
2,552
214
348
441
301
593
•)9b
+
+
+
10,833
93,500
14,564
998
yl53,543
—3,699
—12,257
214
360
441
301
604
395
3,839,761
+ 5,879
4,528
4,528
6,135,465
5,126,767
856,000
308,350
155,900
4,540,697
—437,150
+ 221,800
7,275
4,551
1,159
6.976
4,551
1,159
558
558
660
4 398
126
+ 51
+ 20,236
+ 17,043
70,603
492,127
2,121,626
2,433,439
4,657,000
924,343
36,355
60,734
1,082,449
1,734,707
5,089,245
1,599,684
90,207
353,044
2,529,408
647,580
y423,700
4,946,835
$
4,096,493
2,437,757
8,434,832
16,000
+
—54,213
740
24,500
+ 240,228 4,591
127
—9, c333
—59,730] 1,027
+
1,027
3,572 3,424
3.369 »3,072
—116,863
+ 434,C30
—44,000
7,231
77,223 1,114
—8,120]
184
+
6,488
1,114
—7,843
180
184
180
+ 145,168
+ 105,183
+ 233,092
1,469
2,997
7,050
1,885
+
87,358
1,476
2,995
7,039
1,885
+
13,640
248
—26,570
451
248
451
22,228
99,267
2,514
1,372
2,514
1,371
+
+
1,075,125
1910.
Road.
\
1,690,055 87,809 85,221
1,018
+
1,035
+
361
340
6,147
6.178
y These
figures
41,186
30,500
+ 232,987
1
both years,
NOVEMBER 30.
Increase.
1909.
Decrease.
$
697,166
306,633
961,511
3.160,200
$
3,399,327
2,131,124
7.473,321
9,662,900
12,823,100
91,982,105 77,154,452 14,827.653
906,786
11,257,455 10,350,669
Chesapeake & Ohio Lines., j/28,795,440 1/25,496,167 3,299,273
728,449
12,640,293 11,911,844
Chicago & Alton
11.584,072 10,025,843 1,558,229
Chicago Great Western
554,990
5,141,004
5,695,994
Chicago Ind & Louisville. _
7,623,632 1,014,760
8,638,392
CIn New* Orleans & Tex Pac
15,694,929 14,227,692 1,467,237
Colorado 6c Southern
22,137,856 20,415 703 1,722,153
Denver & Rio Grande
242,804
j/714,995
1/957,799
Denver Nortbw & Pac
33,128
1,104,107
1,137,235
Detroit & Mackinac
321,361
1,353,261
1,674,622
Detroit Toledo & Ironton._
195 246
1,599,244
1,794,490
Ann Arbor
258.485
2,811,673
3,070,158
Duluth So Shore & Atl
140,111
1/2,067,149 1/1,927,038
Georgia Southern 6c Fla
Grand Trunk of Canada._]
40,394,760 37,428,614 2,966.146
Grand Trunk Western.
Det Gr Hav 6c Mihv
Canada Atlantic
Great Northern
Illinois Central
Internat & Great
Iowa Central
Kan City Mexico
1,158,503
1,868.409
926,994
2,467,084
4,099,663
945,388
1,613,563
1905.
S
1,063,681
1,757,425
705,542
2,099,948
3.805,469
820,439
1,319,973
Valley RR.
a
Includes
Northern
& Orient.
59,789,068
57,482,610
8,158.880
3,060,427
1,711,649
49,567,050
700,641
4,637,277
20,619,615
Louisville 6c Nashville
Mineral Range
Minneap 6c St Louis
Minn St P & S S M
Missouri Kansas 6c Texas.. 025,526,138
49.056,409
Missouri Pacific
1
9,966,134
Mobile & Ohio..
362,751
Ne vada-Cal-Oregon
571,650
Rio Grande Southern
10,499,921
St Louis Southwestern
18,896,202
Seaboard Air Line
53,647,064
Southern Railway
14,580,789
Texas 6c Pacific
.
1,140,764
Toledo Peoria 6c Western._
3,443,615
Toledo St Louis 6c Western
27,152,363
Wabash
9,323,232
Yazoo 6c Miss Valley
—
Total (45 roads)
Net Increase (11.32%)
n
5,857,529
5,159,091
53,931,539
52,323,519
7,488,967
2,957,001
1,470,073
43,441,679
767,788
4,212,061
19,531,883
23,367,130
45 143,711
9,098,927
669,913
103,426
241,576
6,125,371
67,147
425,216
1,087,732
2,159,008
3,912,698
867,207
435,435
467,486
9,647,683
104,164
852,238
17,030,883
49,338,250
13,305,483
1,007,291
3,280,527
25.094,164
8,955 357
1,865,319
4,308,805
1,275,306
133,473
163,088
2,058,199
367,875
139,831
717,209,180 644,249,456 73,099,555
Mexican roads (not include d in total)
8,108,002
Interoceanic of Mexico
1/7,411,100
Mexican Railway.
59,716,636
Nat Railways of Mexico.x.
SOUTHWESTERN GROUP.
15,001,507 14,258,618 12,972,765 11,986,829 13,079,604 11,572,477
the Texas Central In 1910.
616
336
FROM JANUARY 1 TO
Alabama Great Southern..
Atlanta Birm & Atlantic..
72,959,724
7,577,491
V 7,621,200
52,724,097
530,511
689,900 Ch
6,992,539
in this year only.
x
Includes the Texas Central, beginning with July,
Now includes Mexican International in both years.
V
These figures are
a
November.
1,511
_
ncluded
EARNINGS
5,179,822
Buffalo Roch & Pittsburgh
Canadian Northern
Canadian Pacific,
Central of Georgia
1905.
1906.
1907.
$
$
s
BufflRoch & P
Ch Ind ’& Lou.
Gr Trk’of Cau. 1
MIDDLE WESTERN GROUP.
1908.
1909.1,
1H1910.1
1,025
1,489
*4“ 13,854
—10,735
—12,750
+ 10,944
88,539
143,143
170,818
263,784
Includes the Texas Central In 1910 only.
Now includes Mexican International in
for three weeks only.
Includes"Mason City & Ft.
EARNINGS OF
688,766
1/454,200
Interoceanic of Mexico
Railway
National Rys of Mexico _x
Mexican
Dodge and the Wisconsin Minnesota & Pacific In
1910, 1909Tand 1908. a Includes Chicago Division In 1910, 1909 and 1908; for
previously ears we have combined Minn. St. P. & S. S. M. and Wise. Central.
b Actual figures of earnings are now used for comparison.
*
3,224
9,916
1,916
1,933
69,828,448 68,138,393 +
Total (45 roadsi
Net increase (2.48%)
Mexican Roads (not inclu ded in tota U—
are
18,952,215 19,303,605 16,452,151 16.335,239
88.590
1/141,286
Georgia South & Florida
Grand Trunk of Canada .1
3,845,640
Grand Trunk Western
Det Gr Hav & Milw__
Canada Atlantic
5,698,315
Great Northern
5,348,567
Illinois Central
872,000
Internat & Great North.
254,137
Iowa Central
180,400
Kan City Mex & Orient..
4,780,925
Louisville & Nashville..
61,270
Mineral Range
432,397
Minneapolis & St Louis.
2,004,763
Minn St Paul & S S M__
Missouri Kansas & Texas a2,867,469
4,613,000
Missouri Pacific
1,001,566
Mobile & Ohio
28,235
Ne vada-Cal-Oregon
52,891
Rio Grande Southern..
1,227,617
St Louis Southwestern.
1.839,890
Seaboard Air Line
5,322,337
Southern Railway. .’
1,687,042
Texas & Pacific
103.847
Toledo Peoria & Western
326,474
Toledo St Louis & West
2,551,636
Wabash
1,174,392
Yazoo & Miss Valley
1905.
1903.
481,445
309
640
568
309
+ 13,876
661
+ 9,639
568
+ 32,067
+ 47,900 3,304
+ 331,000 10,276
+ 82,300 1 916
+ 69,915 2,224
1,064,253
808.689
To
EARNINGS
1,053,518
1909.
1910.
5
$
$
368,682
382,558
239,702
249,341
801,512
833,579
1,565,400 1,517,500
9,249,000 8,918,000
1,199,700 1,117,400
yl ,846,458 yl,776,543
1,229,562 1,215,708
CIn New Orl & Texas Pac
Colorado & Southern
Denver & Rio Grande...
Denver Northw & Pacific
mining operations of
the Mexican roads nor the
Included In this table.
Inc. ( + ) or
Dec. (—).
1909.
1910.
10.79
20.94
4.24
10.43
2.28
12.58
6.96
4.03
9.88
9.11
4.65
2.52
2.92
12.91
2.48
0.82 411,624,390 404,636,777 + 6,987,613 1.72
1.36 460,682,396 433,915,117 + 26,767,279 6.09
1.28 461,937,617 424,007,183 + 37,930,434 8.94
1.77 559,918,434 511,496,013 + 48,422,421 9.46
3.68 595,487,645 542,700,820 + 52,786,825 9.72
1.48 877,212,805 609,239,714 + 67,973,091 11.15
8.12
2.10 623.776,463 576,882,954 + 46,893,509
2.56 639,338.998 576,573,058 + 62,765,940 10.88
+ 7,000,542 1.15
1.91 613,553,405 606,552,863
2.41 673,611,217 626,496,472 + 47,114,745 7.52
2.51 900.355,234 794,728,647 + 105626 587 13.29
1.74 590,965,575 540,238,902 + 50,726,673 9.39
2.06 575,231,637 662,099,137 —86,867,500 13.12
2.06 818,292,490 551.266,144 + 67,026,346 12.16
3.04 717,209.18) 644,249,456 + 72,959,724 11.35
Nole.—Neither the earnings of
the anthracite coal roads are
Road.
%
S
44,188,179
41,517,497
45,833,778
54,149,899
57,853,427
61,260,137
Mileage.
Gross Earnings.
Name oj
%
0.81
1.35
1.28
1.77
3.65
1.50
2.10
2.56
1.91
2.41
2.51
1.74
2.05
2.05
89,214
95,103
88,235
96,967
94,059
101,924
88,251
84,573
82,427
81,709
94,861
73,168
77,518
79,588
85,221
(-
Decrease
Year
MILEAGE IN NOVEMBER.
GROSS EARNINGS AND
(+)
Preceding.
S
%
Miles.
Miles.
Roads
Increase
Earnings.
Year
Given.
Yr.pre- Inceding. cr'se.
Year
Given.
1547
THE CHRONICLE
1910.]
Deo. 10
both years.
down to the end of the
third week of November only
THE DECISION IN THE ANTHRACITE
COAL CASES.
There is
nothing in the decision handed down on
by the U. S.
Thursday
Circuit Court for the Eastern District of
sylvania in the cases brought by the
against the anthracite coal companies
Penn¬
U. S. Government
that furnishes any
1548
THE CHRONICLE
ground for general uneasiness.
tion and
missed
conspiracy in restraint
as
The allegations of combina¬
of inter-State trade are dis¬
eral combination and
conspiracy, (commencing presumably
1896, and continuing down to the filing of the
petition,)
which stifles
competition and obstructs trade and commerce
among the States in anthracite coal, fails to establish that
charge. Judge Gray holds that as to the Temple Iron Co.
transaction, in which six of the defendant roads are involved,
separate coal companies and anthracite
the charge that the
Anti-Trust Law is being violated in the
arrangement under
coal-carrying roads mentioned, and
which the coal companies
pay the independent operators for
The
of the selling price at tidewater
particular in which the contentions of the Govern¬
upheld is in the allegation that the Temple Iron Co.
is a combination forbidden
by the Sherman Law. In this
instance it appears there was a
specific violation of the law
in the fact that through the formation of that
company there
resulted “concerted action for the avowed
purpose of bringing
about an abandonment of the
project” for the building of a
new road for the
carrying of coal from the Wyoming region
ment
one
are
to tidewater.
The suit was begun in June 1907
tion of President
during the Administra¬
Roosevelt, the defendants including the
Reading Co., Lehigh Valley RR. and Erie RR., and their
allied coal
companies, the Delaware Lackawanna & Western
RR., New York Susquehanna & Western RR. and a number
of other coal roads, the
Temple Iron Co., and about forty socalled independent coal
companies. The Pennsylvania RR.,
New York Ontario & Western and Delaware
& Hudson,
three leading anthracite
coal-carrying roads, were not in¬
volved in the suit, as they are not
competitors in transporting
anthracite to tidewater.
The defendants, it is
claimed,
control about 90% of the anthracite coal lands
in Pennsyl¬
vania and three-quarters of the
output of hard coal. The
Government charged that all the defendants named had
long been parties to a general combination which was tanta¬
mount to a
conspiracy which stifled competition and ob¬
structed inter-State trade and
the separate acts
commerce
in anthracite
coal,
charged in thejsuit to have been committed
by various groups of the defendants being steps towards a
common end and
being independently as well as collectively
in
violation of the Sherman Anti-Trust Law.
The inde¬
pendent coal companies, as above intimated, were
brought
into the case through the 65
per cent arrangement, the Gov¬
ernment contending that
they were forced into these con¬
tracts because there was no other
way
market if the coal roads chose to
to get their coal to
discriminate against them
in the matter of cars and rates.
The Government asked the Court to
(1) The defendants are parties to
straint of trade, and that
they be
adjudge and decree:
combination and conspiracy in re¬
enjoined from continuing the combination.
■(2) That they be enjoined from continuing the
65% contract existing
between the big companies and the
independents.
■(3) That the acquisition by the Erie RR. of the
capital stock of the New
York Susquehanna & Western RR. and of
the Pennsylvania Coal Co. and
the Delaware Valley &
Kingston RR. was illegal under the Anti-Trust Act.
Ml (4) That the acquisition by the Reading
Company of the capital stock of
the Jersey Central was also
a
illegal.
(5) That the acquisition by the
Lehigh Valley RR. of the capital stock
of Coxe Brothers & Co. was
also illegal.
(6) That the Temple Iron Co. be declared
a combination of the
defend¬
ant railroads in violation of
law, and that the combination be dissolved.
HfThe opinions
132
voluminous, covering, it is said, about
judges (Gray, Buffing¬
Lanning) rendering separate opinions; but for con¬
printed
ton and
are
pages, each of the three
venience the three opinions have been
summarized in the
per curiam opinion of the Court as follows:
The result of the foregoing
opinion is that the Court
unanimously agree
that the petition should be dismissed
(1) as to the charges in
paragraph 7
of the petition
concerning the acquisition by the Erie company of the
capital
stock of the New York
Susquehanna & Western RR., (2) as to the
charge
in paragraph 7 concerning
the acquisition by the Reading
majority of the capital stock of the Central RR. Co. of New company of the
Jersey, and (3)
as to the general
charge of a combination or conspiracy in violation of
the
Anti-Trust Act of July 2 1890, in the
development of which it is charged
the other combinations set forth in the
petition were used as steps, set forth
in paragraph 7 of the petition.
A majority of the Court hold
that the petition should be
dismissed as
to the charge in
paragraph 7 of the petition concerning the so-called
65%
contracts.
A majority of the Court also hold
that the charge of an illegal combina¬
tion in respect of the
matters relating to the Temple Iron Co.
set forth in
paragraph 7 of the petition should be sustained, and that
the injunction or
restraining order specifically prayed for in the petition should
be granted
so far as it will serve to
prevent and restrain a continuing violation of
the Act.
It will thus be
seen that one
judge (Gray) dismissed all
Government’s charges except that
relating to the Temple
Iron Co., which he
sustains; that a second member of the
Court (Judge
Buffington) dismisses all except the one against
the Temple
company and the one relating to the 65% con¬
the
tract with the
independent
third (Judge Lanning) finds
points.
coal operators;
and that the
against the Government
on
all
H|Judge Gray
says the Court is compelled to conclude that
thus far the direct evidence relied
upon by the Government
to show that the defendants
have long been parties to a
gen¬
LXXXX1
in
to all the
the coal at the mines
65%
is also found untenable.
{VOL
it is
charged, and the charges are supported by the truth,
that the defendants named entered into
a combination or
conspiracy to defeat and prevent the building of a railroad
and the construction of an
inter-State route for the
carrying
of coal from the
Wyoming region to tidewater.
Judge Gray further says:
This avowed and conceded
purpose rendered all that was done in pur¬
thereof violative of the Act of
Congress in question, how’ever innocent
and legitimate It
might have otherwise been.
It is true that the Simpson
& Watkins collieries
might have been Innocently purchased by the defend¬
ants, separately or in combination; but
as they were purchased in order to
carry into effect the purpose of an
unlawful combination, it seems to me
the transaction was
clearly within the denunciation of the law. The Tem¬
ple Iron Co. was the palpable instrument
or means by which the
unlawful
purpose of the combination was
accomplished, and Its acquirement of the
said collieries, in pursuance of
that combination, must be held as
illegal.
It matters not for
present purposes whether the
enterprise would have
resulted or not in failure.
The important fact is that the defendants
named,
interested in the production and
carriage of coal from Pennsylvania to tide¬
water in New York, believed
that the project of
constructing the road
would go through and Induced them
to combine in order to thwart
that
purpose.
The combination brought about the
abandonment of the project,
and the possibility of a
competing road in inter-State commerce was, for
the time being, frustrated.
I cannot escape the
conclusion, therefore, that
the decree of this Court should
denounce as illegal the combination
by which
this result was brought about if a decree
for an injunction, under the
prayers
contained in the petition, can be
founded upon such denouncement.
suance
The injunction or
restraining order specifically prayed for In petition
should be granted, so far as it will
serve “to prevent and restrain”
the future
or continuing violation of
the Act.
This is the only jurisdiction conferred
upon the Court In such a proceeding as the one
before us, and there can be
no injunctive relief
granted unless it tends to restrain some
specific future
or continuing violation
of the Act.
Judge Buffington discusses in great detail the
Temple
With regard to the 65%
contracts, he says:
Iron Co. matter.
•
That these contracts do restrain
commerce Is clear from their
effect, and
they do not fall within the ban of a statute “aimed” as was
said in Chesa¬
peake & Ohio Fuel Co. vs. United States
supra, to “maintain Inter-State
commerce on the basis of free
competition,” then that statute Is made of
no avail by contracts
which shut out competition for all
time, and which.
If increased in
number, may, without absolute purchase and
ownership, end
in the defendant railroads’
acquisition of the remaining coal area.
We
are therefore of opinion these
contracts, as they now stand, are illegal.
Seeing, then, that these six defendant railroads did
unlawfully combine
together through the Temple Iron Co., and that thereafter in
further com¬
bination they brought about these
illegal, perpetual contracts, the duty of
the Court seems clear to forbid them
further maintaining their unlawful
combination In the Temple Iron Co. and from
continuing these unlawful
contracts.
For if the Temple combination was
illegitimate In birth, when
did the taint of Illegitimacy
leave it? The Anti-Trust Act, as It seems to me,
is directed not only at the illegal acts an
Illegal combination does, but also
at the existence and continuance of such
Illegal combination.
Moreover,
in this case It is not only because the
combination in the Temple Iron Co.
was originally illegal, but because it
can be used in the future as it
has been
in the past, and because its existence
to-day tends to forbid, prevent and
restrain competition that this Court should
decree such illegal combination
should end.
I record my dissent to the action of the Court In
refusing to enjoin them.
if
Judge Lanning says with regard to the acquisition in 1898
by the Erie RR. of the majority of the stock of the New York
Susquehanna & Western, on which much stress had been
laid as constituting one
step in the alleged combination, that
in his opinion the
proofs show that whatever competition
between the two roads was eliminated
by the combination,
such elimination
was
so
inconsiderable
a
matter that it did
not enter into the
objects which induced the Erie RR. to
increase its capital stock by
$26,000,000, and that it was but
an
incidental, and not the design or principal, result of the
combination,
With reference to the proposed new coal
road, he says that
it matters not that the independent coal
operators had been
threatening to build it, or what influence that threat had,
if any, upon the formation of the combination which
absorbed
the collieries of Simpson & Watkins and made
possible the
operation of the Temple Iron Co. by the coal-carrying roads.
He said there was no proof in the case that the
Temple Iron
combination directly defeated the construction of
any rail¬
road whatever, nor did the Temple combination
acquire the
capital ctack of the new railroad company, nor does it in any
manner control it.
Judge Lanning says further as to this
point:
It may be observed that the allegation of the Government is that
the con¬
struction of the proposed new road has already been defeated and
aban¬
doned.
The Anti-Trust Act confers on circuit courts “jurisdiction to
pre¬
vent and restrain” violations of the Act.
But this Court cannot prevent
or restrain a past violation of the Act.
There is no suggestion in the
peti¬
tion that the Temple Iron combination Is still
preventing the construction
of the proposed railroad.
Nor does It appear that if the prayer for Injunc¬
tion should be granted the new railroad would be built.
If, then, any relief can be granted under the allegations of the
petition
against the Temple Iron combination, It must be because there was a
pooling
and division of the transportation business of the
Simpson & Watkins
collieries among the railroads above mentioned.
It Is not charged that the
Philadelphia & Reading Ry. Co. obtained any part of the tonnage of those
the eight Simpson
The fact Is that none of
collieries.
1549
THE CHRONICLE
Deo. 10 1910. |
& Watkins collieries
the Reading Ry. Co. I understand, too, that none of them
is tributary to the Central RR. of New Jersey.
They are located at widely
separated points in the Wyoming region.
is tributary to
concluding his opinion Judge Lanning uses very strong
language in reaching the conclusion that no proof can be
shown of a general conspiracy or trust.
He says:
In
with the White
Sulphur Springs agreement.
One of the
provisions thereunder is that bills of lading are not to be
signed until the cotton is in possession of the railway com¬
pany, which is also the requirement insisted upon by the
Inter-State Commerce Commission in its notice to the roads
published in this department a week ago.
President Taft, in his annual Message this week also
What we are asked to do is to find that in 1895 the defendants entered
into a combination or conspiracy of the broad sweep above mentioned, and
referred to the bill-of-lading matter and urged upon Congress
that in the development of it they used as steps the Erie and Susquehanna
the enactment of a law safeguarding the interests of those
combination of 1898, the Temple Iron combination of 1899, the Erie and
Pennsylvania Coal Co. combination of 1899, the combination formed through
advancing moneys on such bills. We give his remarks
the instrumentality
of the 65% contracts
in 1900 and the Reading and Cen¬
the acquisition
Valley in 1905
combination or
tral combination of 1901.
We are also asked to consider
of the capital stock of Coxe Brothers & Co. by the Lehigh
as an element of proof to support the charge of a general
conspiracy.
But there is no
satisfactory proof that these
combinations
were parts of
steps to a scheme entered into by the defendants generally for the con¬
trol of the anthracite coal business.
They were independent combinations,
the first of them having been created three years and the last ten years after
It is alleged the general combination or conspiracy was formed.
What
or
combination in the form of trust or otherwise or conspiracy,”
example, existed among the defendants generally for the purchase by
“contract,
for
capital stock of the Central?
be tied together in one gigantic trust or con¬
spiracy without proof. They have no common board |of control, no com¬
mon scheme of managing their affairs and no common business interests.
Each of them is wholly separate from and Independent of the others.
I
am satisfied that the proofs fail to show the existence of a general combi¬
nation or conspiracy of the nature set forth In the petition.
The case will no doubt be carried to the United States
the Reading company of the
These combinations cannot
Supreme Court in view of the importance of the issues in¬
volved, but meantime it is an assuring fact that the affairs
of the coal roads will be little, if at all, disturbed by the de¬
cision just rendered.
In our “Investment News” columns we refer briefly to a
decision handed down this week by the Federal Court in this
city in a suit brought by an independent Pennsylvania coal op¬
erator to recover triple damages against the anthracite rail¬
roads for alleged violation of the anti-trust laws.
The de¬
cision is merely on a demurrer and not on the merits, and
would seem to be overruled by the decision discussed above.
We refer to it mainly to point out a current misapprehension
as to the rulings made.
ITEMS ABOUT BANKS,
BANKERS AND TRUST GO’S.
public sales of bank stocks this week aggregate
103K* shares, of which 4734 shares wer£ sold at auction and
56 shares at the Stock Exchange.
The transactions in trust
company stocks reach a total of 66 shares.
A lot of 1234
—The
shares of National Reserve Bank stock was sold at auction
111, an advance of 10 points over the price paid at the last
previous public sale. A sale of 15 shares of Mutual Bank
stock at 290 was the first public transaction in the stock
since January last, when the price was 282.
at
Shares.
BANKS—New York.
*38 Commerce, Nat. Bank of._
*18 Fourth National Bank
15 Mutual
Bank
--
12 H
20
Reserve Bank, Nat
BAN K—Brooklyn.
City Bank, National
.
..
Low.
High.
195
200
Close.
196
Last
previous
Nov. 1910-
—
sale.
196
194
195 H
194
Nov. 1910-
196
290
290
290
Jan.
282
111
111
111
Nov. 1910-—zlOl
285
285
285
Nov. 1910-
—
1910-
—
—
285 Yi
TRUST COMPANIES— New York.
15 New York Trust Co_
36 Title Guarantee &
Trust Co
10 Union Trust Co..
__
*
Bank, the former
Sept. 1909-
675
501
Oct.
1910-
497
1290
1290
—
name
-
Nov. 1910-—1300H
1910—1176
x This was for stock of the Consolidated
of the National Reserve Bank.
meeting of the National Monetary
Washington, announce¬
made that the Commission has taken no action
—At the close of
Commission held
was
612
501 H
1185H 1185M 1185H July
Sold at the Stock Exchange,
ment
612
501
._1290
5 United States Trust Co
National
612
on
a
the 2d inst. in
adoption of a concrete legislative measure, and
report may be expected until the December 1911
session of Congress.
It is also reported that the Com¬
mission has decided to hold conferences in Washington
during the present session of Congress with representatives
of financial and commercial interests, and after March 4
will make a tour of the country for the purpose of continuing
these conferences throughout the large cities.
—A meeting was held on Monday of representatives of
eighteen of the local banks which have large dealings in
foreign exchange, relative to the observance by the railroads
of the regulations governing the issuance of bills of lading
for export cotton under the agreement adopted last July
at the conference held in White Sulphur Springs, W. Va.
It is stated that some of the roads have failed to conform to
the regulations contained therein, and have been negligent in
the matter of attaching validation certificates to the bills
of lading.
The banks have accordingly decided that they
cannot safely purchase foreign bills of exchange against bills
of lading for export unless the latter are validated in line
toward the
that
no
herewith:
For the
protection of our own people and the preservation of our
credit in
foreign trade I urge upon Congress the Immediate enactment of a law under
which one who, in good faith, advances money or credit upon a bill of lading
Issued by a common carrier upon an inter-State or foreign shipment can
hold the carrier liable for the value of the goods described in the bill at
the valuation specified in the bill, at least to the extent of the advances
made in reliance upon it.
Such liability exists under the laws of many
of the States.
I see no objection to permitting two classes of bills of lading
to be Issued: (1) Those under which a carrier shall be absolutely liable, as
above suggested;
and (2) those with respect to which the carrier
shall
delivered to the agent issu¬
ing the bill.
The carrier might be permitted to make a small separate
specific charge In addition to the rate of transportation for such guaranteed
bill, as an Insurance premium against loss from the added risk, thus re¬
moving the principal objection which I understand is made by the railroad
companies to the imposition of the liability suggested, viz.: that the ordin¬
ary transportation rate would not compensate them for the liability
assumed by the absolute guaranty of the accuracy of the bills of lading.
I further recommend that a punishment of fine and imprisonment
be imposed upon railroad agents and shippers for fraud or misrepresenta¬
tion in connection with the issue of bills of lading issued upon inter-State
assume no
liability except for the goods actually
and foreign shipments.
—William Hanhart,
of the American
tion
Secretary of the Savings Bank Sec¬
Bankers’ Association, died at St.
Mr. Hanhart had been
Section from the start,
having been made temporary chairman at the time of the
preliminary organization in November 1902, and had ever
since served as its Secretary.
He was indefatigable in his ef¬
forts to promote its interests, and one of his important ac¬
complishments was the compilation of savings bank forms,
Luke’s
Hospital
on
the 7th inst.
identified with the Savings Bank
issued in elaborate book form in 1906.
Mr. Hanhart
was
part of his business life was
spent in that city. One of his early business associations
here wras with Ladenburg, Thalmann &Co., and he was also
formerly Assistant Comptroller of the Emigrant Industrial
Savings Bank. He was President of the Bankers’ Life
Insurance Company.
—We are informed by Secretary Farnsworth of the Ameri¬
can Bankers' Association that the Clearing-House Section
of the Association has called a meeting of transit managers
to be held in Chicago on Monday next at the Chicago Clearing
House.
Its object is the discussion of the question of sym¬
bols to be used on checks and drafts, in line with a system
devised by the Clearing-House Section some two years ago,
whereby cities are designated by letters and Clearing-House
banks by their Clearing-House numbers.
Since its incep¬
tion the proposition has been taken up by some of the larger
cities as well as by the State of Texas, which have devised
plans of their own, and this, it is feared, will, if extended,
lead to complications.
The conference next week is to be
held with the expectation that from it will result some uni¬
form plan which will be desirable and advisable.
The execu¬
born in London in 1849 and a
Clearing-House Section will also meet
during the sessions of the transit managers. Only a fewT of
the expert transit managers of the larger cities will attend
the conference, the following cities being represented:
New York, Chicago, Philadelphia, Boston, Pittsburgh,
St. Louis, Minneapolis and St. Paul, Cleveland, Denver,
New Orleans, and also the State of Texas.
—The trustees of the Seaman’s Bank for Savings, the
Emigrant Industrial Savings Bank and the Metropolitan
Savings Bank of this city decided this week to maintain the
4% interest rate on deposits for the six months to Jan. 1.
The Greenwich Savings Bank will continue the policy,
adopted with the July declaration, of paying interest at the
rate of 4% on accounts up to $1,000, and 334% on sums
in excess of $1,000.
The Citizens’ Savings Bank and the
Union Dime Savings Bank, which lowered their rates in
July from 4 to 334%» have announced that the lower rate
will be continued at this time.
None of the Brooklyn sav¬
ings institutions has thus far made any change from the
4% rate, the several banks which have already taken action
in the matter having adhered to that amount, including the
Brooklyn Savings Bank, the Williamsburgh Savings Bank,
the South Brooklyn Savings Institution and the Sumner
Avenue Savings Bank.
—Several of the cotton operators against whom indict¬
ments were returned as a result of the Government inquiry
tive committee of the
1550
THE CHRONICLE
last
spring into an alleged cotton pool agreement were
arraigned before Judge Hough of the United States Circuit
Gourt on Monday. They were James A. Patten of Chicago,
Eugene G. Scales of Dallas and William P. Brown of New
Orleans.
The indictment on which they were arraigned
found by the Federal Grand Jury on Aug. 4, and was
intended to correct the original indictment returned in June,
which is said to have been defective by reason of the fact
that the Grand Jury which handed it down was not legally
drawn.
Messrs. Patten, Scales and Brown entered pleas
was
of not
guilty this week and
$5,000 each. The others who
new
indictment
Col.
released under bail of
were
are
made defendants in the
Robert M.
Thompson, a special
partner in the cotton house of S. H. P. Pell & Co. of New
York and Frank B. Hayne of New Orleans,
both of whom,
it is stated, are now out of town and will be arraigned next
are
week.
The latest indictment does not name as defendants
Charles A. Kittle, the Cotton Exchange member of S. H. P.
Pell & Co.; Morris H. Rothschild of Woodsville, Miss., and
Sydney J. Harman of Shreveport, who
were
included in the
former indictment.
Mr. Kittle, however, it is said, is re¬
ferred to in the new indictment, together with Fuller E.
[VOL.
LXXXXI
The Court also upheld the
constitutionality of the Act of
March 2 1907 allowing the Government an
appeal in adverse
decisions on preliminary pleas in criminal cases.
The appeal was taken to the Supreme Court
by United
States District Attorney Henry A. Wise, who was this week
quoted
as
stating that he
was
not yet ready to say whether
Mr. Heinze would be tried
again on the counts in the indict¬
ments which Judge
Hough ruled out.
—The
banking and Stock Exchange firm of Fisk & Robin¬
business under auspicious circumstances on
Thursday of this week, in its handsome new offices at 26
Exchange Place. During the day many old friends of the
resumed
son
firm called to convey
the large number of
their best wishes, which, together with
congratulatory letters from out of town
and the many handsome flowers
received, made the open¬
ing day a very delightful one, besides evidencing the high
esteem in which the firm is held.
—Miles M. O’Brien has
resigned as Vice-President and
director of the Mercantile National Bank of this
city. Con¬
tinued ill-health is announced to be the reason for his with¬
drawal.
As noted a week ago, Charles H. Imhoff has be¬
a Vice-President of the
chosen to succeed Mr. O’Brien
Callaway, James W. Cannon and Lewis W. Parker, as being
among those with whom the defendants conspired on Jan. 1
come
1910 “to
—Joseph C. Baldwin Jr, has been chosen to succeed his
father, the late Joseph C. Baldwin, as a trustee of the Wash¬
ington Trust Co. of this city. Mr. Baldwin is Vice-President
and Treasurer of the American
Dyewood Co.
—Walter Kerr, First Vice-President of the New York
Life Insurance & Trust Co., has been nominated to fill a
vacancy in the board of that company.
monopolize the inter-State trade and commerce in
during the last four months of the crop year
ending Sept. 1 1910 by purchasing in a manner calculated to
avoid enhancing the price thereof; that is to
say, by each
buying for himself and spreading the purchase over many
days and with certain agreements as to their holding their
cotton off the markets long enough to
prevent its interfering
with their purposes, and finally
selling to consumers at arbi¬
trary and excessive prices enough cotton to accomplish their
ends, no one of said conspirators being financially able to do
this alone.”
The indictment is also said to charge the five
available cotton
defendants with
engaging In
conspiracy in restraint of inter-State trade and commerce
on by bona fide spinners and manufacturers in
acquiring cotton for their needs, by running a “corner” in cotton on the
New York Cotton Exchange, knowing that the natural result of their acts
would be to obstruct that trade and commerce and
injure said bona fide
spinners and manufacturers by compelling them in buying cotton to com¬
pete with “short'’ sellers who would be purchasing under the abnormal
conditions produced by the “corner.”
a
in cotton which is carried
—No
developments with regard to the future of the Equi¬
table Life Assurance Society resulted at this week’s annual
meeting held on Wednesday, the only announcement fol¬
lowing the session being that no plan had yet been devised
for the disposition of the stock acquired
by J. P. Morgan a
year ago,
and that the company would continue without
bank, and he
on
was
yesterday
the board.
—Vacancies on the board of the
N. B. A., this city, were filled on
Bank of New
York,
Tuesday, when James
Brown, of Brown Brothers & Co., and Samuel T. Hubbard,
of Hubbard Brothers &
Co., were elected to the directorate.
—Frederick Thompson Adams, a member of the New York
Stock Exchange since 1886, with an office at 10 Wall
Street,
died
on
the 3d inst.
He
was
also
a
member of the New York
Produce, Cotton and Coffee exchanges and the Chamber of
Commerce.
He was fifty-six years of age.
—Walter A. Hall, formerly a paying teller at the Herald
Square branch of the Greenwich Bank of this city, whose
disappearance last summer disclosed a shortage in his
accounts, surrendered himself to District-Attorney Whitman
on
Wednesday. Hall disappeared on July 3, taking with
him $44,000 of the bank’s
money, of which $15,690 was
returned by him this week; the rest, he stated, had been lost
at the race tracks in Canada.
He pleaded guilty to an in¬
dictment, handed down on Sept. 28, charging grand larceny.
Hall, who is but twenty-four years old, had been with the
change for the present. The holdings bought by Mr. Morgan,
it will be remembered, were formerly owned
by Thomas F.
Ryan, and the purchase was subject to the trust under which
Morgan J. O’Brien, George Westinghouse and the late Grover
bank for nine years.
Cleveland were made voting trustees for the benefit of the
—Cornwall A. Arnold, an assistant
receiving teller of the
policyholders. Although the trust agreement expired in
the
Seventy-second
Street
branch
of
Corn
June, the formal transfer of the stock has not yet taken place,
Exchange Bank,
was arrested on the 2d inst.
and the surviving trustees still exercise the
with
charged
the larceny of
right to vote.
$1,485 of the bank’s funds. He was held in $5,000 bail.
Both Messrs. Westinghouse and O’Brien were
present at the
meeting this week, and the latter, it is stated, cast the proxy Vice-President Frew is reported as stating that the accused
confessed to having taken two sums of $1,000 and
ballot voting the 502 shares owned
$485,
by Mr. Morgan. The
directorate continues as heretofore, fifteen members whose respectively, which had been deposited by two customers
terms had expired having been re-elected to the board.
—Edward F. Buchanan, formerly a partner in the failed
firm
of A. O. Brown & Co., of this city,
—An opinion was handed down
died in Atlanta, Ga.,
by the United States
on the 4th inst.
Mr.
Buchanan
was
Supreme Court on the 5th inst. holding that the U. S. Circuit
formerly a telegraph
Court erred in dismissing certain counts in the
operator in the South, and eventually secured employment in
indictments
against F. Augustus Heinze charging misapplication of the that capacity with C. I. Hudson & Co., in which A. O. Brown
was then a partner.
funds of the Mercantile National Bank of this
When Mr. Brown withdrew and formed
city. On his own firm in
several occasions, both last year and
1902,
Mr. Buchanan was taken into the
this, some of the indict¬
ments against Mr. Heinze were
the
new concern.
partnership
of
The suspension of A. O.
quashed before the case was
Brown
&
Co. on Aug. 25 1908 was followed by an
investiga¬
brought to trial, and even later, when he was placed on trial
tion by the New York Stock Exchange into the
last spring, a number of the counts in the indictments
extraordinary
which
stood against him at the
beginning of the trial were dismissed dealings on the Exchange on the previous Saturday—
before the case went to the jury, which was
Aug. 22—in which the firm was concerned, resulting in the
charged only with
the consideration of thirty counts.
expulsion
from the Exchange of its two Board members.
These, it was understood,
concerned the over-certification of checks of Otto
—Judge James B. Dill, the well-known corporation lawyer
Heinze &
Co. on Oct. 14 1907
and organizer of the Corporation Trust Co. of New
Jersey,
aggregating $464,000 and the misappli¬
cation of the funds of the bank to that extent.
resulted in an acquittal, the
jury
“not guilty” on
bringing in
May 12.
It is stated that
one
a
The trial
verdict of
of the
points
which the lower court held the indictments
insufficient
was that
they did not show a conversion by the recipient
of the proceeds of certain notes
discounted. In
on
this question the
passing
It follows that the Circuit Court erred
that there should be alleged conversion
of the recipient of the
proceeds of the
to the use of either and the
indictment
on
Supreme Court said:
in considering as
necessary not only
by the officer of the bank, but also
discount.
The conversion may be
fulfills the requirement.
died
on
the 2nd inst.
strumental
in
Mr. Dill is also said to have been in¬
securing the adoption of the Corporation
Registration law of New Jersey. The United States Steel
Corporation was one of the many incorporations brought
about by him.
He was fifty-six years of age.
v —The Federal Trust Co. of Newark, N. J., which in¬
creased its annual dividend rate from 8 to
10% eighteen
months ago, has now placed its stock on a 12% basis, the
directors having decided to declare a semi-annual dividend
for the current half-year of 6%.
The institution has a
Deo. 10
THE CHRONICLE
1910.]
capital of $1,000,000 and surplus and profits of close to that
amount.
It began business in 1901.
—Governor-elect John A. Dix, whose resignation as a
Vice-President and director of the First National Bank of
Albany, N. Y., was announced last week, has also resigned
as a director and member of the executive committee of the
Albany Trust Co. His nephew, John Dix Coffin, has been
chosen to replace him as a director of the trust company.
—W. J. Trimble, Cashier of the Traders’ National Bank
of Rochester, was elected President of
Men’s Association for Rochester at the
on
the National Credit
annual meeting held
November 29.
—Benjamin B. Perkins has
been elected President of the
of Boston to succeed , the late
William O. Blaney.
Thomas W. Saunders, heretofore
Assistant Cashier, has been chosen to the office of Cashier
to take the place of Mr. Perkins.
—The Commerce & Deposit Bank of Cincinnati, which
recently took action towards increasing its capital from
$25,000 to $50,000, is offering its new stock for subscription
at 105 per share of $100.
—It is reported that William L. Swormstedt, former
Cashier of the Citizens’ National Bank of Evansville, Ind.,
who was indicted in June on a charge of making false entries
in reports to the Comptroller of the Currency, has been freed
under suspended sentence by Judge Anderson.
—The membership of the board of the New Standard Trust
& Savings Bank of Chicago has been completed with the
election of the following new directors:
Judge Charles S.
Cutting, J. J. Walser, President of the Goss Printing Press
Co., and W. F. Van Buskirk, Vice-President of the bank.
The institution* began business on Sept. 6.
Commercial National Bank
1551
by State Bank Commissioner Dailey for double the amount
of their holdings, and this, together with the liquidation of
assets, enabled the payment of all but about $54,000 of
the indebtedness.
It is stated that there is a sufficient
number of items to protect all except $35,000 of the deposits,
and, to cover this, negotiable guaranty certificates will be
issued to the depositors bearing 6% interest until redeemed.
—The Bank of Kentucky, at Lexington, Ky., made an
assignment on the 5th inst. to J. W. Porter, Cashier of the
First National Bank of that city.
The Bank of Kentucky
began business on July 12 1909. It had an authorized
capital of $150,000, of which $75,000 was reported paid in
at the start.
The following statement with respect to the
is
attributed
to Assignee Porter:
suspension
Realizing that the banking field in Lexington is already well filled and
that it would be impossible to continue longer without impairing the capital
stock of the bank, the directors of the Bank of Kentucky executed to-night
a
deed of assignment to J. W. Porter,
Cashier of the First National Bank,
with
least
expense.
Mr. Porter accepted the trust and will take charge of the bank
at once.
It Is expected that he will be able to effect an arrangement with
the First National Bank to pay off all of the depositors immediately.
—The 93d annual meeting of the shareholders of the Bank
of Montreal was held in Montreal on Monday last.
The
deposits, which showed an increase of some $36,000,000 in
the previous annual statement, have again increased some
$18,000,000, the aggregate deposits in the present statement
being about $197,500,000. The assets of the bank reach the
large total of $239,892,330, as against $220,582,746 in the
previous year. The profits for the year ending Oct. 31 1910
were $1,797,992, which, with the balance brought forward
from last account of $603,796, gave a credit of $2,401,789,
from which the usual dividend at the rate of 10% was paid,
calling for $1,440,000,.leaving a balance of $961,789 carried
forward.
The remarks made at the meeting by the Presi¬
—The directors of the National City Bank of Chicago
dent, R. B. Angus, and the Vice-President, Sir Edward
have accepted plans for increasing the capital of their insti¬
Clouston, will be found in another column, and throw much
tution from $1,500,000 to $2,000,000, which will be pre¬
sented to the stockholders for ratification at their annual light on the prosperity now existing in Canada—bounteous
crops, large immigration and rapid growth of all industrial
meeting in January. The new issue will be offered pro rata and
agricultural enterprises.
to the present shareholders at par, $100.
—The Ashland State Bank of Chicago, formed to take over
the business of the Ashland Exchange & Savings Bank, a
private banking institution, began business on the 3d inst.
[From our own correspondent.]
With the change to a State bank the capital has been in¬
London, Saturday, Nov. 26 1910.
creased from $100,000 to $200,000.
The outbreak in Mexico has not had as bad an effect upon
—John H. Barker, President of the Haskell & Barker Car markets as might have been anticipated, partly because
Co. and a heavy stockholder in a number of banking insti¬ people have confidence in the ability and firmness of Presi¬
dent Diaz and partly because they feel sure that even if the
tutions, died of pneumonia on Saturday, the 3d inst., at his worst were to happen, neither the persons nor the property
home in Michigan City, Ind.
Mr. Barker held stock in the of foreigners would be endangered. Still, the rigorous cen¬
First National Bank, First/Trust & Savings Bank, the Corn sorship is believed to be unnecessary, and is therefore caus¬
Exchange National Bank, the^Colonial Trust & Savings Bank ing some bitterness.
In the beginning the Brazilian Government, likewise,
and the National Safety Deposit Co. of Chicago; the First
seemed inclined to keep back information.
During the past
National Bank of Duluth and the Merchants’ National Bank
couple of days, however, it has supplied fairly full reports,
of St. Paul.
He was sixty-seven years old and leaves a for¬ and telegrams from railways companies, banks and business
tune of many millions to his only daughter, aged fourteen.
people of all kinds have been received in the city in fair num¬
As it now appears that there is nothing political at
bers.
—Resolutions identical with those adopted in June by the
the bottom of the mutiny, it is hoped that everything will
Minnesota Bankers’ Association, commending the practice
be settled in a very short time and that order will be restored.
of firms and corporations who sell their paper in the open For all that, the incident has undoubtedly shaken Brazilian
market, in furnishing independent audits of their business credit. For some time the credit of Brazil has been rising
by certified public accountants, were passed by the Illinois remarkably in London, owing not only to the long continu¬
Bankers’ Association at its last annual meeting.
The reso¬ ance of order but to the increasing wealth of the country.
It was hoped that the Government would grow stronger and
lutions of the latter are as follows:
stronger. The mutiny of the fleet has given a shock, there¬
We commend the attitude of firms and corporations who sell their paper
fore, to the holders of Brazilian securities, who are exceed¬
in the open market in furnishing independent audits of their business by
ingly numerous, especially upon the Continent, and more
responsible certified public accountants; and,
Whereas, we believe that such independent audits are of great value
particularly in France.
both to the borrower and the lender,
Outside of these two departments there has been little
Therefore, be it resolved that we recommend this practice becoming
doing during the week, for the ups and downs in New York
general, and we further recommend that the affairs of all firms and corpora¬
have been too frequent to be pleasing to operators here, and
tions which are in any way Identified with each other be audited by such
the near approach of the elections is making everybody dis¬
accountants as of the same date.
inclined to engage in new risks. The betting is still very
—A dividend of 30% has been declared in favor of the strong and confident in favor of the Government.
But it is
depositors of the First National Bank of Billings, Mont., to be noted that the Unionists are less depressed than they
were when
the Government policy was first announced.
which closed its doors on July 2.
Then the general impression amongst the Opposition was
—Early the coming year, it is stated, plans to increase the that they would lose seats. Now it is said that the country
capital of the Central National Bank of Denver, Colo., from agents of the Opposition are more hopeful, and, indeed, are
predicting the gain of some seats in the agricultural districts.
$200,000 to $325,000 will be perfected.
On the other hand, the Liberal Party continues as confident
—E. S. Makins has been appointed receiver of the Abilene as
ever, and it is looking for the acquisition of several seats
State Bank of Abilene, Kans., which closed its doors in in London, the Midlands, and generally in the manufacturing
September, following the disappearance of Cashier J. A. districts. People who are not very much committed to
Flack, who is said to be a defaulter to the extent of about either side are inclined to think that there will be little
in the strength of the opposing parties. On Monday
$75,000. It is understood that the bank is the first in the change
the dissolution will take place, and on Saturday of next week
State to give practical working to the deposit-guaranty law.
it is hoped that the first elections will be held.
It is pre¬
According to the Topeka “Capital,” the institution (which dicted that nearly one hundred will be held on that day,
had $25,000 capital) had deposits of about $160,000 at the although nothing can yet be definitely settled.
It is hoped
time of its suspension.
The stockholders were held liable that the whole of the elections will be over by the 17th of
city. This step was taken by the directors, after a conference
their attorney, as the best way in which to liquidate the bank with the
of this
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1553
THE CHRONICLE
-»
December.
While they are going on, the
general impression
in the city is that business will remain
very inactive.
That
the Government will come back with a
large majority, nobody
any side doubts
on
But if the majority is lessened it is
quite possible that the city may be encouraged, and that
even before the elections are over there
may be an improve¬
ment in business.
The inactivity of the Stock
Exchange is increased by the
last settlement of November.
The settlement in mining
securities began yesterday, Friday.
The settlement in
other securities will begin on
Monday, and all will end on
Wednesday, the last day of the
not
a
very
heavy
and
one,
so
far
month. The settlement is
it has proceeded it shows
in view of the end of the
as
no special features.
Moreover,
month, the joint-stock banks have been calling in loans as
they usually do, which has added to the scarcity of supplies
in the open market.
On Tuesday and Wednesday there
was, in consequence, a good deal of borrowing by the
outside
market from the Bank of
England, which charged 5J^% on
Joans.
On Thursday, in
consequence of this borrowing and
the letting out of
money by one or two institutions, the mar¬
ket was
easier.
But
the end of the month draws
as
nearer
everybody is looking for firmer money. The money market
was
disagreeably surprised on Wednesday by the with¬
drawal from the Bank of England of a
quarter of a million
sterling in gold for Egypt, Egypt having parted with a million
and a half sterling to India before it was
quite prepared to
do so.
At first it was feared that this withdrawal
would
be followed by others to-day.
But, although it is too early
to speak confidently, yet the
impression now is that very
little, if any, will be taken to-day, and that whatever may
be further required by
Egypt will probably be found in Paris.
The India Council offered for tender on
Wednesday 70 lacs
of its bills, and the
applications exceeded 649
lacs, at prices
ranging from Is. 4 l-16d. to Is. 4 3-32d. per rupee. Appli¬
cants for bills at Is. 4-16d. and for
telegraphic transfers at
Is. 4 3-32d. per
rupee were allotted about 11% of the
amounts applied for.
English Financial Markets—Per Gable.
daily closing quotations for securities, &c., at London,
reported by cable, have been as follows the past week:
The
*
as
London.
Week ending Dec. 9.
Silver, per oz
Consols, New, 2%
For account
French Rentes (in
Sat.
d. 25 X
percents. 79 9-16
Mon.
25 5-16
79
Tues.
Wed.
Thurs.
Fri.
25 1-16 25
25
25%
78 11-16 78 11-16 78 15-16 78%
78 15-16 78 15-16 79 3-16 79 1-16
79%
79%
Paris)..fr. 97.87% 97 87%
97.75
Amalgamated Copper Co
66%
66%
66%
bAnaconda Mining Co.
8%
8%
8%
Atchison Topeka A Santa Fe. 102%
103
103
Preferred
Baltimore A Ohio
Preferred
Canadian Pacific
104
104
104
108%
108%
92%
108%
92%
198%
92
197%
Chesapeake A Ohio
82%
Chicago Great Western
22%
Chicago Mtlw. A St. Paul... 124%
Denver A Rio Grande
29%
198
83
28%
46
36
.
145
32%
65%
.
.
72
114
100
92
116
..
.
oPennsylvania
aReading Company..
-
.
oFirst Preferred
aSeeond Preferred
Southern Pacific
-
.
Southern Railway
Preferred
Union Pacific.
Preferred
U. S. Steel Corporation
Preferred
Wabash
Preferred
Extended 4s
a
Price per share,
65%
65%
75
75
45%
45%
49
25%
61
60
-174%
.
-
95
76
75%
.119%
-
-
-
64%
b £ sterling.
45
35
134
144
31%
65%
31%
64%
71
36
71
36%
115
41%
99%
41%
99%
92
92
117
65%
74%
45%
65%
75%
45
48
48
115%
24%
60%
172%
58
170%
95
117
25%
60
174%
95
72%
118%
16%
33%
35
65
31%
65%
114%
49
76%
119%
16%
34%
134
146
116%
114%
24%
175%
45
35
134
145
65%
73%
45%
116%
25%
22%
125%
29%
71%
28%
28%
70%
27%
45%
113
41
99
92
116
95
119%
16%
34%
64%
16%
34%
28%
69%
27%
75%
45%
83%
22
36%
100
92
117
66
92%
197%
124
71
60
174%
95
103%
104%
108%
49
116%
-
102%
104%
107%
92%
197%
82%
•
41%
49
.116%
25%
.
66
71
37
114
41%
-
101%
32%
*
36%
■
8%
123
36
135
145
134%
.
8%
104
22%
124%
29%
71%
28%
46%
72
■
8%
107%
92%
196%
81%
22%
83%
22%
124%
29%
Preferred
72
Erie
28%
First Preferred
46
Second Preferred
35%
Illinois Central
134
Louisville A Nashville
.145
Missouri Kansas A Texas... 33
Preferred
65
Nat. RR. of Mexico, 1st Pref. 71
Second Preferred
36%
N. Y. Cmtral A Hudson
Riv.113%
N. Y. Ontario A Western...
41%
Norfolk A Western
.100
Preferred
92
Northern Pacific
.116%
97.87% 97.87% 97.87%
64
65%
65%
95
74%
119%
16%
34%
64
74%
119%
16%
34%
64
64
*
Commercial and HSisceltaneensUrns
Canadian
Bank Clearings.—The
clearings for the week end¬
ing Dec. 3 at Canadian cities, in comparison with the same
Clearings
Week ending December 3.
at-
1910.
Canada—
Montreal
Toronto
Winnipeg
Vancouver
Ottawa
....
Quebec
Halifax
Calgary
Hamilton
London
8t.
John
Victoria
Edmonton
Regina
Brandon
Lethbridge....
Saskatoon....,
Total Canada
$
38,924,310
35.000.000
28,263,015
9,236,265
2,982,057
2,413.252
1,378,786
3,655,443
2,419.093
1,228,357
1,406,788
2,376,499
1,797,940
1,386,811
1909.
$
46,967,788
32,196,113
27,845,410
7,416,159
3,655,851
2.474,712
2,268,340
2.763.620
2,042,871
1,182,269
1,436,934
1,244.673
1,194,710
1,132,766
Inc. or
Dec.
1908.
%
$
—17.1
32,963,552
29,165,255
20,329,839
3,894,351
3,366,851
2,395,507
+ 8.7
+ 1.5
+ 24.5
—18.4
—2.5
—39.2
+ 32.3
+ 18.9
+ 3.9
—2.1
+ 90.9
+ 50.5
+ 22.6
1,700,670
1,908,960
1,697,232
1.264,463
1,379,453
1,084,338
867,014
1907.
S
31,334,957
25,250,062
15,761,862
3,950,023
3,264,725
2,808,483
1.938,100
1.465,607
2,102,319
1.617.772
1.249,664
940,310
1,046,517
612,811 Not include d in tot ai.
675,595 Not Include d in tot al.
1.037.870 Not include d in tot al.
132,468,616 133,822,216
—1.0 102.017.485
‘
92,728.401
fVoi..
LXXXXl
National Banks.—The following information
regarding
national banks is from the office of the
Comptroller of the
Currency, Treasury Department:
APPLICATION
TO CONVERT INTO NATIONAL BANKS
RECEIVED.
The Bridgeport State Bank,
Bridgeport, Wash., Into “The Bridgeport
National Bank.” Capital $25,000.
Correspondent, T. J. East, Bridge¬
port, Wash.
The Bank of
Clarksville, Clarksville, Ark., Into “The National Bank of
Capital, $50,000. Correspondent, Bank of Clarksville.
The First State Bank of
Crosbyton, Crosbyton, Texas, Into “The First
National
Bank
of
Crosbyton.” Capital,
$50,000. Correspondent,
W. D Petzel.
APPLICATION TO CONVERT APPROVED.
The Kenova Banking A
Savings Co., Kenova, W. Va., Into “The First
National Bank of Kenova.”
Capital, $40,000. Correspondent K. B.
Cecil, Cashier, Kenova Banking A Savings
Co.
Clarksville.”
The
future
DIVIDENDS.
following shows
by large
all the dividends announced for the
important corporations:
Dividends announced this week are
'printed, in italics.
Name of
or
Per
Cent.
Company.
Railroads (Steam).
Albany A Susquehanna, guaranteed
Allegheny A Western, guaranteed
Atch. Top. A Santa Fe, pref.
(No. 25)
2%
3%
Jan.
5
Jan.
Jan.
Dec.
Jan.
Jan.
3 Dec. 16
to
Jan.
2
3 Holders of rec. Dec.22a
1 Holders of rec. Dec.30a
10 Nov. 30
to
Dec.
9
10 Dec. 17
to
Jan. 10
3 Holden of rec. Dec.23a
31 Holders of rec. Nov.30a
2 Nov. 28
to
Dec.
3
2 Holders of rec. Dec. la
2 Holders of rec. Dec.15a
31 Holders of rec. Nov.30a
31 Holders of rec.Nov.30a
31 Holders of rec. Dec. 9a
3 Holders of rec. Dec. 17a
3 Holden of rec. Dec. 9a
3 Holden of rec. Dec. 9a
17 Holden of rec. Dec.10a
31 Dec. 22
to
2
Jan.
1 Holders of rec. Dec. 15a
20 Holders of rec. Nov.29a
22 Holden of rec. Dec. 10a
16 Dec. 25
to
Jan.
8
3 Dec. 16
to
Jan.
4
3 Dec. 16
to
Jan.
4
15 Holden of rec. Dec. 3a
10 Holden of tee. Nov.80a
15 Holders of rec. Dec.10a
16 Jan.
1
to
Jan. 15
20'Holden of rec. Dec.14a
16 Holders of rec. Dec. 19a
3 Holden of rec. Dec.24a
3 Holders of rec. Dec. 9a
3 Holden of rec. Dec. 15a
3 Holders of rec. Dec. 15a
19 Holden of rec. Nov.30a
14 Holden of rec. Dec. 31
10 Dec. 29
to
Jan. 10
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
3 Dec. 18
to
Jan.
3
3 Dec. 18
to
Jan.
3
3 Dec. 18
to
Jan.
3
16 Holders of rec. Dec.Sla
3 Holden of war't No. 17
16 Holden of rec. Dec.31a
3 Holden of rec. Dee. la
3 Holden of rec. Dec.22a
14 Jan.
2
to
Jan. 14
2 Holden of rec. Dec.20a
Dec.
Jan.
15
2
1
1
30
2
2
2
1
1
2
1
$4
1%
3
1H
H
1%
1%
3%
Preferred (quar.)
2
Delaware Railroad
Delaware A Hudson Co. (quar.)
Delaware Lackawanna A Western
(extra)
Denver A Rio Grande, preferred
Detroit A Mackinac, common (No. 1)..
Preferred
2%
Dec.
Dec.
Jan.
Dec.
Dec.
Jan.
Jan.
Jan.
Dec.
10
2%
2%
2%
2%
1H
1%
2%
Mahanoy
3
2
Hocking Valley, common
Interborough Rapid Transit (quar.)
Morris A Essex, guaranteed
N. Y. A Harlem, com. and preferred
N. Y. Lack. A Western, guar, (quar.)
Norfolk A Western, common (quar.)
1%
1%
$2
Northern Central (No. 92)
Northern Securities.
St. Louis A San Francisco—
Chic. A East. Ill. com. stk. tr. ctfs..
Preferred stock trust ctfs. (quar.)..
K.C.Ft.S.AM.pref. stk. tr. ctfs.(quar.)
St. Louis Southwestern, preferred
Southern Pacific Co. (quar.) (No. 17)
Toledo St. Louis A Western pref. (quar.).
Union Pacific, common (quar.)
Valley RR. (N. Y.), guaranteed
White Pass A Yukon
Worcester Nashua A Rochester
Street and Electric Railways.
American Railways (quar.)
Feb.
Dec.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Dec.
Dec.
Dec.
Jan.
Jan.
Jan.
2
4
2%
Erie A Pittsburgh (quar.)
Fonda Johnstown A Glov., pref. (quar.)..
Georgia RR. A Banking (quar.)
Greene RR. guaranteed
Brooklyn Rapid Transit (auar.)
Chattanooga Ry. A L, pref. (quar.) (No. 6)
Cleveland Railway (quar.)
Continental Pass. Ky., Philadelphia
Duluth-Superior Traction, com. (quar.)
Jan.
2%
Cln. N. O. A Texas Pacific, common
Colorado A Southern, common
East
Jan.
3
3
Chicago A East. Illinois, pref. (quar.)
Chicago A North Western, common
Books Closed.
Days Inclusive.
4%
2%
2%
Atlantic Coast Line Co., Conn.
(quar.)..
Atlantic Coast Line RR.. common
Beech Creek, guar, (quar.)
Boston A Albany (quar.)
Boston A Lowell
Boston A Maine, com. (quar.)
Boston Revere Beach A Lynn
Canadian Pacific, com. (quar.) (No. 58).
Common (extra)
Chesapeake A Ohio (auar.)
When
Payable.
4
5
1%
1
2
1%
1
2%
2%
hi
2%
1%
1%
1%
1%
Dee.
Dec.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Dec.
1% Jan.
Preferred (quar.)
1
Jan.
Frank. A Southwark Pass Ry., Phila. (qu.) $4.50 Jan.
Indianapolis Street Ry._
3
Jan.
Louisville Traction, com. (quar.)
1
Jan.
Massachusetts Electric Cos., pref
$2
Jan.
New Orleans Railway A Light, pref
2% Jan.
Northern Ohio Tract. A Light (quar.)..
% Dec.
Pomand(Or.)Ry.,L.d:P.,pfd.(qu.) (No. 18)
1% Jan.
St.Joseph Ry.,L.,H.&P.,pfd.(qu.)(No.33)
1% Jan.
Sao Paulo Tram., L. A Pow. (quar.)
2% Jan.
Second A Third Streets Pass., Phila
S3
Jan.
South Side Elev. RR., Chicago (quar.)
% Dec.
Twin-City R. T., Mlnneap., com. (qu.)
1% Jan.
Preferred fquar.i
1% Jan.
Union Traction, Philadelphia
$1.50 Jan.
United Traction A Elec., Providence (qu.).
1% Jan.
Washington Water Power, Spokane (quar )
1% Jan.
West Penn Traction, com. (No. 1)
1
Dec.
Banks.
Mercantile National (quar.)
1% Jan.
Montauk, Brookl >/n
2
Jan.
Trust Companies.
Columbia (quar.)
2
Dec.
Guaranty (quar.)
8
Dec.
Mutual of Westchester Co. (quar.)
1% Dec.
New York Life Ins. A Trust
20
Dec.
Extra
5
Dec.
United States
25
Jan.
S3
--
.
-
Miscellaneous.
Amer. Beet Sugar, pref. (qu.) (No. 46)...
Am. Brake Shoe AFdy., com. A pref. (qu.)
American Can, pref. (quar.)
American Caramel, pref. (quar.)
Am. Car A Fdy., com. (quar.) (No. 33)..
Preferred (quar.) (No. 47)
American Chicle, common (monthly)..
American Cigar, preferred
American Express (quar.)
Amer. Iron A Steel Mfg., com. A pfd.(qu.)
American Piano, pref. (quar.)
Amer. Pipe & Construction (quar.)
American Radiator, common (quar.)
Am. Sugar Refg., com.Apref. (quar.)...
Amer. Smelt. A Refg., com. (quar.)
Preferred (quar.) (No. 46)
American Snuff, common (quar.)
Common (extra)
Preferred (quar.)
American Surety (quar.) (No. 86)
Extra
American Tobacco, pref. (quar.)
American Woolen, pref. (quar.) (No. 47).
Borden’s Condensed Milk, pref. (quar.)..
Brooklyn Union Gas (quar.) (No. 39)..
Buffalo Gen. Elec., com. (quar.)(No. 65)
Butte Electric A Power, com. (auar.)
Calumet A Hecla Mining (quar.)
Celluloid
Extra
Company (quar.)
,
1%
el%
1%
2
Jan.
Dec.
Jan.
fan.
%
1%
Jan.
Jan.
1
Dec.
Jan.
Jan.
fan.
Jan.
Jan.
3
S3
1%
1%
2
2
1%
Dec.
Jan.
1
Jan.
1%
Jan.
Jan.
Jan.
Jan.
Dec.
Dec.
Jan.
Jan.
5
3
1%
2%
5
1%
1%
1%
1%
1%
1%
$7
Dec.
Jan.
Dec.
Jan.
Dec.
1%
Dec.
2
Dec.
16
15
1
1
3
1
31
2
2
2
2
3
Deo.
1
to
Holden of
Hidden of
Holden of
rec.
rec.
rec.
Deo.
4
Dee.lOa
Dec. 15a
Dec. 15
Holden of rec.Nov.3Ca
Holden of rec. Dec.17a
Holden of rec. Dec. 17a
Holden of rec. Dec.15a
Dec.
to
23
Jan.
1
Holders of rec. Dec.10a
Holden of rec. Dec. 5a
Jan.
1
to
Jan
15
Holden of rec. Nov.30a
Holden of rec. Dec.12a
Holden of rec. Dec. 15a
Holden of rec. Dec. 15a
Holders of rec. Dec.
5
Dec. 21
to
Jan.
2
Holden of rec. Dec.12a
Holdersof rec.Dec.15da
Holden of rec. Dec. 10
Dec. 14
to
2
Jan.
Holders of rec. Dec. 15
15 Dec. 8
to
Dee. 15
3 Deo. 24
1 Dec. 16
31
31
31
10
10
3
3
31
2
2
2
2
20
3
Holden
Holden
Holden
Holders
Holders
Dec. 20
to
to
Jan.
Jan.
3
2
of rec. Dec.27a
of rec. Dec.31a
of rec. Dec. 30
of rec. Dec. 6a
of rec. Dec. 6a
to
Jan.
2
Holden of rec. Dec.21a
Holden of rec. Dec.16a
rec. Dec.16a
Holden of
Dr>c.
22
to
Jan.
1
Holden of rec. Dec.12a
Hidden of rec. Dec.12a
Holders of
rec.
Dec. 14a
Holden of rec. Dec. 15a
3 Holden of rec. Nov.30a
2
1
2
31
Holders
Dec. 11
Holdres
Dec. 23
Holden
Dec. 16
Deo. 16
Holders
of
Dec.20a
Jan.
2
of rec. Dec. 15
to
Jan.
1
3
of rec. Dec. la
16
to
Jan.
5
3
to
Jan.
5
3
of rec. Dec.15a
3 Holden of rec. Dec.15a
3 Hidden of ree. Dec.15a
31 Dec. 16
to
Jan. 10
31 Dec.* 16
to
Jan. 10
3 Holders of rec. Dec. 10a
16 Dec. 22
to
Jan.
4
15 Dec.
6
to
Dec. 15
3 Dec. 18
to
Jan.
2
30 Holden of rec. Dec. 20
3 Holden of rec. Dec.15a
22 Holden of rec. Nov.25a
31 Holden of rec. Dec. 14a
31 Holden of rec. Dec. 14a
rec.
to
Name
Miscellaneous (Concluded).
Central Leather, preferred (ouar.)..
CMc. June. Rys. A U. Stk.Yds.,com.(gu.)
Jran.
.
2X
IX
IX
IX
ran.
IX
IX
ran.
Dee.
ran.
Dec.
IX
Dec.
IX
IX
Ian.
ran.
Dec.
Dec.
Jan.
IX
Jan.
2X
2X
IX
Jan.
Jan.
Jan.
IX
pref. (quar.)
CrexCarpet
pref. (quar.) (No. J
Cuban-American Sugar, pref. (quar.)
Crucible Steel,
(quar.)
IX
2
Preferred (quar.)
Du Poru Interned. Powder,
--
-
pref. (guar.).
Preferred (quar.).
General Chemical, preferred
General Electric (quar.)
(quar.)
-
Ingersoll-Rand, preferred
Intercontinental Rubber, com. (guar.)...
Preferred (guar.)
3
1
-
1
(qu.) (No. 4) —
Internatlonal Silver, pref. (quar.)
IX
X
X
IX
2X
IX [Dec.
ix Jan.
-
Preferred (extra)
Internal. Smoket. Pow.AChem.,com. (qu. )
Laclede Gas Light, com. (quar.)....--.
Preferred
Lanston Monotype Machine (guar.)
Mackay Companies, com. (quar.)(No.22)
Preferred (quar.) (No. 28)
-
-
-
-
1
-
pref. (guar.)...
Mergenthalcr Linotype (quar.)
Extra
Dec.
Jan.
Jsn,
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Feb.
Dec.
Jan.
Jan.
Jan.
Jan.
Dec.
Dec.
IX
2X
pref. (quar.).
May Department Stores,
Dec.
IX
IX
30c.
20c.
1
-
Internal. Harvester, com.
3
-
Extra
Great Lakes Towing,
an.
■ ran.
] Dec.
] Dec.
1 )ec.
ran.
2
Consolidated Gas of N. Y. (quar.)......
Consumers’ Power, pref. (quar.)
Detroit Edison
IX
IX
Preferred (.guar.)
Chicago Telephone (quar.)
Childs Company, common (quar.)
Preferred (quar.)
Citizens’ Gas of Indianapolis (No. I)—
IX
2X
-
-
5
-
-
Michigan State Telephone pref. (quar.).
Muskogee Gas A Elec., pref. (quar.) —
National Biscuit, com. (quar.) (No 49)
NaHonal Enamel A Stpg., pref. (guar.).
National Lead, common (quar.)
Preferred (quar.) (No.70)..
National Sugar Refg., pref. (guar.)
National Surety (quar.)
Nevada Consolidated Copper (quar.)...
ix
IX
IX
IX
X
IX
ix
-
-
-
-
-
.
-
-
-
-
North American Co. (quar.)...
Oklahoma Gas A Elec., com.
Old Dominion S. 8. (No. 70).
Onderdonk Estate, common...
Preferred
-
-
-
-
Extra
Philadelphia Electric (quar.).
Quaker Oats, com. (quar.)...
-
-
Common (extra)
Preferred (quar.)
-
Quincy Mining (quar.)
-
Realty Associates (No. 16).
Jan.
Jan.
Dec.
Dec.
Feb.
Dec.
Jan.
Dec.
Dec.
Dec.
Jan.
2
Jan.
37J*c. Dec.
ix Dec.
2
Jan.
IX Dec.
IX Jan.
2
Dec.
Jan.
3
Jan.
5
3X Jan.
2X Dec.
Dec.
IX Dec.
2
Jan.
X Jan.
IX Feb.
Dec.
$1
IX Dec.
3
Jan.
IX Jan.
Dec.
3
IX Dec.
)
IX Dec.
2
Dec.
Dec.
3
-
-
-
-
Extra
•)
-
Securities Company
....
South Porto Rico Sugar, com. (guar.).
-
-
Preferred (quar.)
Standard Coupler, common
-
-
Preferred
-
,
IX
IX
2X
1
2
2
4
Dec.
$10
IX
ix
2X
IX
IX
.)
IX
>IX
Standard Oil (quar.)
-
Subway Realty (quar.)
Swift A Co. (quar.) (No. 97).
Texas Company (quar.)
Texas A Pacific coal (quar.)..
-
-
-
--
-
United Bank Note Corn., pref. (q
U. 8. Steel Corp., com. (quar.) (No.
Utah Copper (quar.) (No. 10)
Van Dyck Estate, common
Preferred (quar.)
Ver Planck Estate, common....
Preferred
Western Electric Co
Extra
Woman’s Hotel (No. 7)
Yukon Gold (quar.) (No. 6).
Dec.
Jan.
Jan.
Jan.
Jan.
IX
75c.
3
Dec.
Dec.
Dec.
Jan.
Jan.
Dec.
Dec.
Jan.
Dec.
Dec.
Dec.
m
Jan.
7X
Jan
Jan
1
3X
1-3.f Dec.
2
f
3 Solders of rec. Dec. 10a
3: lolders of rec. Dec. 12
31Solders of rec. Dec. 12
Jan.
2
31 Dec. 29
to
10: Dec. 4
Dec. 10
to
10 Dec. 4
to
Dec. 10
1 Dec. 16
1
to
Jan.
1 Dec. 16
to
Jan.
1
1 Holders of rec. Dec.15a
15 Holders of rec. Nov.16a
3 Holders of rec. Dec. 19a
15 Holders of rec. Nov.30a
24 Solders of rec. Dec.12a
3 Holders of rec. Dec.15a
16 Holders of rec. Jan. 3a
15 Holders of rec. Nov.22a
15 Dec.
6
to
Dec. 15
25 Jan. 15
to
Jan. 25
2 Holders of rec. Dec.20a
2 Holders of rec. Nov. 30a
2 Holdersof rec. Nov. 30a
2 Holders of rec. Nov. 30a
15 Holders of rec. Dec.
8
15 Holders of rec. Nov. 25a
3 Holders of rec. Dec.20a
14
31 Holders of rec. Dec. 31
31 Holders of rec. Dec. 31
30 Holders of rec. Dec. 14a
3 Holders of rec. Dec. 15
3 Dec: 15
3
to
Jan.
1 Holders of rec. Dec.10a
1 Holders of rec. Jan. 20
31 Dec. 21
to
Jan.
2
14 Holders of rec. Dec.24a
2 Dec. 20
to
2
Jan.
2 Dec. 20
to
2
Jan.
2 Holders of rec. Dec.20a
15 Dec.
Dec. 15
2
to
15 Dec.
2
Dec. 15
to
30 Holders of rec. Dec. 23
3 Holders of rec. Dec.10a
3 Holders of rec. Dec.10a
1 Holders of rec. Dec. 20
31 Holders of rec. Dec. 10a
31 Holders of rec. Dec. 10a
1 Jan. 15
to
Feb.
1
15 Holders of rec. Nov. 30
14 Holders of rec. Dec.28a
2
31 Dec. 11
to
Jan.
31 Dec. 10
Dec. 13
to
15 Nov. 19
Nov. 22
to
3 Holders of rec. Dec. 20
3 Dec. 24
to
Jan.
3
31 Dec. 10
to
Dec. 18
31 Holders of rec. Dec. 15
16 Holders of rec. Jan. 2a
Dec. 20
2C Dec.
1
to
2 Holders of rec. Dec.15a
15 Holders of rec. Nov. 30
3 Dec. 21
to
Jan.
2
-
Royal Baking Powder, com. (quar.).
Preferred (quar.)
Days Inclusive.
Payable.
2
Statement of New York City Clearing-House Banks.—The
itailed statement below shows the condition of the New
ork Clearing-House banks for the week ending Dec. 3.
n
he
figures for the separate banks are the averages for the
*
C lily results.
In the case of the totals the actual figures
; the end of the week are also given.
For definitions and rules under which the various items
Books Closed.
When
Per
Cent.
of Company.
Dividend No. 2
Columbus Gas A Fuel,
1553
THE CHRONICLE
Deo. 10 1910.1
T)w>,
Dec.
Dec.
«
a
ciphers (00) in all cases.
We omit two
-
I
*
*
5
^
I
<■
*
1
<
<
4
<
j
J
<
Fourth
First
Irving Exch...
Bowery
N. Y. County..
..
German -Amer.
Chase
Fifth Avenue..
German Exch..
Germania
Lincoln
Garfield
Fifth
....
....
West Side
Seaboard
Liberty
]
1
Holders of rec. Dec.20a
Holders of rec. Dec.20a
Holden of rec. Nov. 19a
Holden of rec. Jan. 3a
Holden of rec. Jan. 3a
Holden of rec. Feb. la
IS Nov. 27
Dec.
4
to
20 Dec.
to
Dec. 20
8
U Holders of rec. Jan.
5
2 Holden of rec. Dec.l7a
31 Holders of rec. Dec. 15a
31 Holders of rec. Dec.15a
15 Holders of rec. Dec. 9a
23 Holden of rec. Dec. 10a
23 Holden of rec. Dec.10a
15 Holders of rec. Nov. 30
1 Holders of rec. Dec.15a
14 Jan.
1
to
Jan. 15
Jan.
3 Dec. 23
to
3
to
Jan.
3
3 Dec. 23
2l. Dec. 20
to
Jan. 10
2< Dec. 20
to
Jan. 10
U Holders of rec. Nov. 30
15 Holden of rec. Nov.l8a
3 Holders of rec. Dec.24a
5
5 Dec. 18
to
Jan.
3] Holden of rec. Dec.loa
3; Dec. 21
to
Dec. 30
: Holders of rec. Dec.20a
2
3: Dec. 16
to
Jan.
to
31 i Deo.
2
Dec. 14
3 Dec. 17
to
Dec. 20
30
3C
15
1«
16
23
N. Y. Prod.Ex
State
14th Street...
Coal A IronUnion Exch..
Legals.
Specie.
Average. Average.
Loans.
Average.
~
Metropolis
Surplus.
Capital.
Banks.
00* omitted.
.
s
Actual figures
$
$
$
19.655,0
3,624,1
2,000,0
30.300.9
2,050,0
4,362,2
1,832,1
18,413.0
2,000,0
8,049,5
52.699.2
6,000,0
6,006,3
23.460.1
1,500,0
8,269,0
759,6
1,000,0
31,588,3
167,368,6
25,000,0
6,577,7
27.788.3
3,000,0
602,6
6.756.6
600,0
8.349.6
2.517,2
1,000,0
2.624.7
162,0
300,0
845,4
7.563.1
500,0
33.400.2
5,000,0
4,252,9
25,000,0 16,601,4 142,413,1
2,723,8
14,135,0
3,000,0
927,8
3.563.7
500,0
8.178.8
450,0
1,012,4
1.856.3
480,3
200,0
62,007,1
3,000,0 12,069,9
21.234.9
1,713,2
2,550,0
7.167.4
500,0
546,0
8,471,7
1,749,1
1,000,0
12,074,4
1,518,8
2,000,0
40,862,0
5,429,2
3,000,0
7,675,1
25,101,0
1,500,0
79,222,0
5,000,0 12,550,1
111,9
1.409.9
250,0
28,296,0
5,635,0
5,000,0
12,573,0
2,116,1
1,000,0
99.233.8
20,913,1
22.844.5
1,741,1
2,000,0
802,7
3,399,0
250,0
7.750.3
500,0
1,726,6
3.932.2
750,0
711,2
8,108,3
73.730.1
5,000,0
2,170,6
12.201.2
100,C
3,860,0
200,0
901,3
4.964.9
1,023,4
200,0
1,563.1
13.949.6
1,000,0
1,208,7
8,032,7
1,000,0
3.331.4
250,0
510,4
2,088,4
11.690.8
1,000,0
4,053,0
1,051,5
200,0
1,977,2
20,619,0
1,000,0
16.576.8
2,719,9
1,000,0
7.879.1
735,6
1,000,0
15,332,0
893,2
1,000,0
311,2
5.949.1
1,000,0
5,751,0
408,9
1,000,0
970,7
8.786.3
1,000,0
$
3.514,0
7.614,0
3,686,0
11.149.3 1,262,0
4.492.9 1.699.4
237,0
1,634.0
35,353,1 5,460,0
4.549.9 1.954.7
222,1
1.415.8
532.6
1.213.4
89,5
533.3
210.0
1.911.6
5.637.8 2.657.2
24,692,0
1.608.8
337.7
956.7
478.4
11,078,9
5,078,9
613.6
1,830,0
3.257.2
7,480,0
3,859,0
19,229,0
314.5
4,608,0
2,815,0
21.365.3
4.800.2
821,0
1.119.2
759,0
14.425.4
2.258.4
521.7
837.5
2.753.7
1,784,0
467,0
1.497.5
933,0
4,463,0
3.922.8
2.297.1
4,540,0
1.133.9
728,0
1.218.2
Banking Department also
27.3
24.4
24.8
25.8
25.7
17.114.9 27.9
9,503,0 26.4
18,860,0
6.703.6
5,781,0
8.582.1
25.7
26.5
26.0
24.7
Trust Cos.
Trust Cos.
State Banks
State Banks
outside of
in
in
outside of
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
Week ended Dec. 3.
$
$
$
$
Capital as of Nov. 10
25,275,000
65,406,000
*8,998,000
*9,075,000
...
:
.
—
Surplus as of Nov. 10
39,391,800
174,583,300
*10,891,650
*9,817,991
3
Dec. 25
to
Dec. 31
3
Dee.
25
to
Dec. 31
288,105,600 1,008.028,500
+ 196,500
+ 1,900,600
95,388,200
+ 229,000
142,772,300
+ 223,500
islHoldere
Loans and Investments
-
-
Change from last week.
Legal-tenders & bk. notes
Change from last week.
24,115,300
—407,100
12,838,800
+ 96,700
31'Dec. 14
of rec. Dec.
to
Jan.
Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
Auction
Stocks.
36 Title Guarantee & Trust Co.,
*
Deposits
Change from last week.
on deposits
Change from last week.
Reserve
P.- C.
reserve to deposits.
Percentage last week..
.
-----
-
333,253,700 1,050,881,600
+ 8,140,000
+ 2,768,300
101,115,000
+ 613,100
148.343,600
94,335,300
+3,623,400
130,530,800
—659,000
20,835,500
+ 408,400
20,704.500
+166,000
28.9%
28.1%
15.7%
15.8%
21.4%
21.1%
14.6%
14.5%
+ 539,800
501-501X
$100 each
612
12)* Nat. Reserve Bank, N. Y.lll
47 Nat. Spool-Less Music Roll
$55 lot
Co
5 United States Trust Co
1185X
5 Union Typewriter Co. 6%
1st pref
105K
1290
10 Union Trust Co
5 People’s Surety Co
121
60 Homestead Bank of Bklyn.. 68
15 Mutual Bank
...290
15 N. Y. Trust Co
Bonds.
$7,000 Peoria Water Works Co. 1st
cons. 4s, 1948
60 A int.
$160,000 Cent. Foundry Co. deb.
6s, 1919; May 1910 coupons on.. 35
$15,000 Georgia Coast A Piedmont
RR. Co. 1st 5s, 1946, M. A S.68 A lnt.
$5,000 Hampshire Sou RR. Co. 1st
5s. 1934
75
Correction.—$3,000 Georgia Coast A Piedmont RR. Co. 1st 5s, 1946, M. AS.
reported in this department last week as having been sold at 67J* and int., should
have been 69)* and Interest.
3,366,0
11,598,0
4,479,0
23,786,0
STATE BANKS AND TRUST COMPANIES.
Transfer books not dosed,
b Less Income tax.
d Correction, e Declared 7%
on both common and preferred stocks, payable in quarterly Installments.
/ Two
months’ dividend on account of change In dividend period from Q.-F. 1 to Q.-M. 31.
Brooklyn Academy of Music. 26
Union Typewriter Co. com.. 50X
Amer. Chicle Co. com
224 X
Buff. A Susq. Ry. Co. com..
4
Tiffany Studios com
101
Albany Trust Co
180
Library Sq. Realty Co.SI 50 per sh.
Tiffany A Co., $1,000 each.
$5,700 per share
110 Amer. Nickel Co., $10 each.$6 lot
1,600 Little Chief Mln’g Co.. $5 ea.
1,000 Rawhide Coalition Mines
Co., $1 each
6,700 Black Diamond Anthracite
Coal Co. of N. J., $1 each..
$77
200 Edison, Jr., Elect. Light <fc) lot
Power Co. pref., $1 each..
200 Edison, Jr., Elect. Light A
Power Co. com., $1 each..
50 Golden
Star
Mines
Co.,
$5 each
20 Nat. City Bank of Bkiyn...285
8.139.9
■
a
22
25.7
4.150.6 25.5
5.608.1 23.9
14,545,1 25.0
For definitions and rules under which the various items are
made up, see “Chronicle,” V. 86, p. 316.
111,698,000
Stocks.
13.560.2
now
—1,048,400
Engine Co
228,2
1.184.4
651,0
249.4
4,545,0
1,806,0
1,574,0
160.9
2,400,0
143,0
1.797.5
1.360.9
63,0
559.6
229.6
5,077,0
1,239,1
537.9
505,1
879,8
440.7
354.7
1,391,8
224.0
1,663,0
866.4
214.4
324,0
643A
780,0
910,0
furnishes weekly
companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
The State
48,460,200
N. Y.
148.8
7.296.2
returns of the State banks and trust
+ 2,409,000
100
10
30
10
1
5
6
100
2
525,0
1.234.4
$
%
17,185,0 25.6
34,700,0 27.1
18,267,0 25.6
50.165.7 24.7
23.216.6 26.6
7,441,0 25.6
153,023,3 26.7
25.226.6 25.9
6.736.8 24.3
6.521.6 26.7
2.273.9 27.4
8,464.0 25.0
31,905,3 26.1
119.182.7 26.5
10.313.7 26.0
3,077,3 28.0
8.663.9 25.2
2,041,8 30.7
69.102.1 26.6
20.381.8 26.2
7,847,0 22.8
8.531.3 29.0
12.803.2 27.3
47,480,0 25.3
22,194,0 25.5
81,500,0 25.5
1.633.4 29.0
27,243,0 25.7
11,980,0 24.0
87,509,7 26.4
23.922.2 25.7
3,541,0 25.0
7,474,0 22.0
3,744,3 26.4
78.267.1 24.0
On the basis of averages, circulation amounted to $48,449,000 and United States
deposits (included In deposits) to $1,670,900; actual figures December 3, circulation,
$48,423,800; United States deposits, $1,652,900.
Specie
Change from last week.
10c.
6.835.8
1,074,3
Average.
133,350,0 196,577,1 1229,080,5 243,588,7 68,122,8 1199,337,8 26.0
Dec. 3..
1240,575,8 238,800,4 67,634,C 1205,543,6 25.4
8
2
2X
-
$
900,0
1,781,0
999,0
Re¬
s've.
Deposits.
4- Increase over last week.
* As of Aug. 31.
— Decrease from last week.
Note.-—“Surplus” Includes all undivided profits.
“Reserve on deposits” in¬
cludes, for both trust companies and State banks, not only cash items, but amounts
due from reserve agents.
Trust companies in New York State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according
to location as shown below.
The percentage of reserve required Is computed cn
the aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre¬
sented by certificates, and also exclusive of deposits secured by bonds of the State
The State banks are likewise required to keep a reserve varying
of New York.
according to location, the reserve being computed on the whole amount of deposits
exclusive of time deposits not payable within 30 days, represented by certificates
(according to the amendment of 1910) and exclusive of deposits secured by bonds
of the State of New York.
—Trust Cos.—
—State Banks—
Total
Of
Of
Reserve Required for Trust Companies
Total
which
Reserve
which
Banks.
and Slate
Reserve
Location—
Required in Cash.Required. in Cash.
15%
25%
15%
Manhattan Borough
-16%
10%
10%
20%
Brooklyn Borough (without branches in Manbat.).15%
10%
7X%
Other Boroughs (without branches In Manhattan) .15%
15%
20%
15%
20%
Brooklyn Borough, with branches In Manhattan..16%
16%
'
Other Boroughs with branches In Manhattan
15%
15%
15%
6%
5%
Elsewhere In State
..10%
15%
1554
THE CHRONICLE
The
Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the
Clearing
House. These figures are shown in the table below, as are
also the results (both actual and
average) for the ClearingHouse banks. In addition, we have combined each corre¬
sponding item in the two statements, thus affording an
aggregate for the whole of the banks and trust companies in
the Greater New York.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Clear.-Home
Week ended Dec. 3.
Clear.-House State Banks &
Banks.
Banks.
ActualFigures
Average.
$
Trust Cos. not
in C.-H. Aver.
$
Capital
as of Nov. 10..
133,350,000
133,350,000
$
74,731,000
208,081,000
Surplus
as
of Nov. 10..
196.577,100
196,577,100
183.170,000
379,747,100
lioans and Investments 1,240,575,800 1,229,080,500
Change from last week + 18,270,800 + 14,664,000
Deposits
Change from last week
1.097,686,200 2,326,766,700
+ 2,259,400
+ 16,923,400
1,205,543,600 1,199,337,800 al,046,584,700 2,245,922,500
+ 8.246.800
+ 11,674,600
+ 1,487,600
+ 13.162,200
238,800.400
—8,450,500
243,588,700
—2.771,500
118,406,400
—1.135,200
361,995,100
—3,906,700
Legal-teaders
Change from last week
67,634,000
—2,119,000
68,122,800
—702,700
521,160,000
+155,900
89,282,800
—546,800
306,434,400
Aggr*te money holdings
Change from last week —10,569,500
Money
311,711,500
—3.474,200
cl39,566,400
—979,300
other bks. & trust
cos.
23,839,300
826i 100
23,839,300
+ 826,100
311,711,500
—3.474,200
163,405,700
—153,200
475,117.200
—3.627,400
26.01%
26.57%
17.4%
17.4%
Change from last week
Total
451,277,900
—4,453,500
deposit with
on
+
306,434,400
Change from last week —10,569,500
reserve.
Percentage to deposits
requiring reserve
Percentage last week.
Surplus
25.45%
26.51%
_
5,048,500
reserve
•
and
Philadelphia.
We omit two ciphers (00) in all these
Capital
Banks.
and
Loam.
Specie.
Legals.
Surplus.
Boston.
Nov. 12„
Nov. 19—
Nov. 26..
$
$
$
a
245,346,0
245,558,0
199,385,0
199,744,0
23,708,0
22,749,0
3,803,0
3,936,0
237,844,0
241,325,0
67,494,0
252,029,0
252,395,0
71,029,0
70,644,0
302.816.0
306,020,0
302,701,0
303,421,0
69,943,0
Clearings.
$
4,478,0
3,904,0
55,465,0 253.989,0
55,465,0 252.431,0
Circu¬
lation.
$
23,701,0
24,021,0
55,465,0
55,465,0
3..
$
Deposits,
40,200,0 206,023,0
40,200,0 200.954,0
40,200,0
40,200,0
Nov. 12..
Nov. 19—
Nov. 26..
Dec.
figures
$
7,965,0
7,981,0
7,977,0
7,940,0
157,615,1
187.650.6
135,073,3
168,544,4
16,055,0
16,078,0
134,465,8
167,889,8
15,873,0
15,755,0
130,869,8
166,807.3
$
Specie
Change from last week
-
LXXXXI
Boston and Philadelphia Banks.—Below is a
summary of
the weekly totals of the Clearing-House banks of Boston
Dec. 3..
Phi la.
Total of all
Banks & Trmt
Cos. Average.
[VOL.
a Including Government
deposits and the Item "due to other banks.” At Boston
Government deposits amounted to $3,049,000 on December 3,
against $3,051,000
on November 26.
Imports and Exports for the Week.—The following are
imports at New York for the week ending Dec. 3; also
totals since the beginning of the first week in
January.
the
FOREIGN IMPORTS AT NEW YORK.
For week.
1910.
Dry Goods
General Merchandise
Total
Since
1909.
$3,248,034
1908.
12,666.086
$3,750,651
13,656,147
$3,267,420
12.383.383
$3,669,541
11,076,517
$15,914,120
$17,406,798
$15,650,803
$14,746,058
January 1.
Dry Goods
General Merchandise
Total 48 weeks
1907.
$145,802,160 $156,023,869 $116,272,490 $171,711,779
694.456.947 652,306,496 474,310,246 616,083,619
$840,258,107 $808,330,365 $590,582,736 $787,795,398
—
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. 3 and from Jan. 1 to date:
11,877,050
EXPORTS FROM NEW YORK FOR THE WEEK.
+ Increase over last week. — Decrease from last week.
a These are the deposits after eliminating the item “Due from reserve
depositories
and other banks and trust companies in New York City”; with this Item Included,
deposits amounted to $1,162,580,200, an Increase of $7,974,500 over last week.
In the case of the Clearing-House banks, the deposits are “net” both for the aver¬
age and the actual figures,
b Includes bank notes,
c Of this amount State banks
held $15,029,600 and trust ^companies $124,536,800.
1910.
For the week
1909.
$15,954,435
622,070,973
Previously reported
Total 48 weeks..
1908.
$14,534,168
563,827,142
1907.
$11,984,646
576,566,052
$11,598,197
586,540,509
$638,025,408 $578,361,310 $588,550,698 $598,138,706
The
averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
in Greater New York outside of
as
follows for
COMBINED
RESULTS OF BANKS AND
TRUST
GREATER NEW YORK.
We omit two
Week
Ended.
Loans and
Investments.
compare
1909 and 1908:
COMPANIES
IN
EXPORTS
Deposits.
%
Specie.
$
1—
8—
15-22..
296—
2,388,453,3 2,330,077,9 382,271,2
2,387,881,5 2,316,630,7 374,198,8
2,382,131,5 2,306,865,9 371,151,9
2,365,975,6 2.287.487.9 367,935,1
2,358.583,6 2,273,641,0 364,544,7
2,361,563,2 2,271,515,7 357,466,7
12.
2,340,467,7 2,248,637,7 355,905,1
19- 2.309.880.1 2,227,664,7
363,380,5
26.. 2,309,843,3 2,242,760,3 '365,901,8
3.. 2,326,766,7 2,245,922,5
361,995,1
_
Legals.
N.
Sur¬
tal.
plus.
n
89.226,2
87,948,8
88,364,2
88,481,0
89,325,5
88,230,4
87,892,2
88,339,0
89,829,6
89,282,8
$
$
471,497,4
462,147,6
459,516,1
456,416.1
453,870,2
445,697,1
443,797,3
451,719,5
455,731,4
451,277,9
497.810.3
489,103,9
484,935,4
480,663.0
477,425,5
470,422,9
467,943,4
474,847,4
478,744,6
475,117,2
Century
250,0
Colonial
400,0
300,0
200.0
500,0
250,0
200,0
100,0
200,0
100,0
200,0
Columbia
..
Fidelity
Jefferson
Mt. Morris.
Mutual
Plaza
23d Ward..
Yorkville
New Neth’d
Bat. Pk. Nat.
Aetna Nat.
-.
-.
.
_
$ *
274,3
155,6
391,4
775,8
172,5
537,5
313,9
379,5
462,0
110,6
482.0
259,8
164,0
315,7
Legal
Disc’ts
and
Invest¬
ments.
Tender
and
Bank
Notes.
Specie.
Deposit with
Other
ing
Agent.
Banks, Deposits.
.
dec.
Mfrs.* Nat.
Mechanics'.
Nassau Nat.
Nat. Citv—
North Side.
First Nat..
$
46,0
285,0
688,8
1,396,2
1,431,0
606,0
222,5
355.0
96,9 3.423,5
122.8 5,624,8
221,0 14,135.4
173,0
89,5
38,0
7,001,0
4,802,0
2,429,2
2,964,0
250,0
200,0
1,264,0
763,1
400.9
5,130,2
3,094,5
2,106,1
289,4
138,7
50,2
481,3
49,5
90,6
1.404,7
393,7
477,9
144.0
113,4
15,2
2,68516
2,226^3
220.0
125,0
626,0
267,4
3,178.7
2,795,3
139,2
110,8
27,1
91,1
145,5
63,6
79,1
168,8
2,95315
Jersey City.
First Nat..
Hud.Co.Nat
Third Nat..
Hoboken.
First Nat..
Second Nat.
$
24,7
370,6
441,7
207,9
331,1 1,193,0
571,0
308,0
99,0
522,0
142,8
111,5
309,0
81.0
200,0
252,0
1,000,0
750,0
300,0
200,0
300,0
400,0
141,0
33,8
898,0
622,0
79,4
172,1
486,6
33,7
362,0
158,5
74.5
251,0
197,6
459,5
$
18,0
141.3
230,7
87,0
585,0
82,9
$
1,183,0
1,480,6
6,956,0
6,953,0
1,016,3
3,659,4
3,371,3
4,284,4
260,8
24,0
31,1
4,961,0
1,950,3
5,052.5
2,485.0
1,322,8
2,032,7
5,900,1
2,834,7
Tot. Dec. 3 7,497,0 12,777,0 92,120.2 6.617.3
7,167.7 11,545,8 2,722,5 103688,4
Tot. Nov.26 7.497,0 12,777,0 92,413.6
6,603.7 7,005,1 11,794,4 2.749.5 103817,9
Tot. Nov.19 7,497,0 12.568.6 93,431,5 6,703.3
7,170,5 10,654,5 2,815.5 104112,3
NEW
YORK.
Imports.
SinceJan. 1.
Week.
France
Oprmany
West, Indies
Mexico
South America
$400
75,000
.
All other countries.
SinceJan. 1.
$32,150,000
_
_
Total 1910-—
Total 1909
Total 1908
$13,469,736
3,588,379
1,000
8,254
69,269
66,588
555,490
294,725
2,154,881
1,599,447
314
9,568,766
41,900
$75,400 $45,218,138
91,150,617
49,996,225
$164,411 $21,662,972
422,404
8.376.396
344,991 16,222,127
$610,745 $36,521,334
55,300
2,253.900
596,438
868
73,794
30
47,825
7,746
26.046
15,608
46,360
$13,344
5,719
13,310
78,147
1,724,027
1,219.812
1,457,578
39,501,037
41,167.302
39,863.596
$88,044
$57,598
131,399
$4,511,937
4,950,739
3,839,276
3.781,900
1,671,025
-
$19,300
4,455
3,453,017
,
Silver.
Great, Britain
Prance
West Indies..
$666,913
1,034,852
1,207,039
Net
534.2 3.244,7
838,4 5,554 0
882,0 11,087,0
1,018,1
6,533,0
614,9 3,795,0
149,5 2,108,5
623,9 3,333,0
200,0
300,0
_
Total 1908
Clear¬
187,3
443,0
580,0
83,8
341,7
28,6
615,0
398.0
50,4
692,9
84,0
49.3
34,1
Borough of
Brooklyn.
Broadway
$
1,234,0
1,393,0
5,485,3
6,205,0
996,5
3,047,0
2,535,1
3,252,7
4.242,0
1,825,7
3,950,0
2,320,0
1,559,8
2.114.1
Britain
Total 1909
%
116*0
66,5
569,4
593,0
121,7
183,9
459,4
709,9
487,0
215,0
199,3
249,0
69,7
35,9
.
AT
Exports.
Total 1910
Loam,
City
Boroughs of
$
100,0
SPECIE
Ail other countries
Y.
Man.dk Brx.
Wash. H’ts
OF
Week.
Great
We omit two ciphers (00) in all these figures.
Capi¬
IMPORTS
Gold.
Money Entire Res.
Holdings. on Deposit.
Reports of Clearing Non-Member Banks.—The following
is the statement of condition of the clearing non-member
banks for the week ending December 3, based on
average
daily results:
Banks.
AND
ciphers in all these figures.
Tot.
$
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Nov.
Nov.
Nov.
Dec.
theJClearing-House
series of weeks past:
a
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 1910 and for the corresponding periods in
Of the above imports for the week in 1910, $ 15,660 were
American gold coin and $
American silver coin. Of
the exports during the same time, $75,400 were American
gold coin and $
were
American silver coin.
^STOCK OF MONEY IN THE COUNTRY.—The follow¬
ing table shows the general stock of money in the country,
as well as the holdings by the Treasury, and the amount in
circulation on the dates given.
—Stock of Money Dec.1’10.ln United
Held in
States.
Treasury. A
$
$
*1,701,198,787 189,351.933
67.480,272
564,783,508
1,065,870
7,462,588
14,974.568
6156,546,852
Subsidiary silver
9,626
3,494,000
Treasury notes of 1890——
346.681,016
Nnited States notes
6,169,091
726,855.833 20,430.734
Uatlonal bank notes
Gold coin and bullion
Gold certlflcates.o
Standard silver dollars
Sliver certlflcates.a
-Money in Circulation
Dec. 1
1910.
$
601,492.185
842.874.397
75.527.638
480,727,412
141,572,284
3,484,374
340,511,925
706.425.099
Dec. 1.
1909.
$
603,961,316
790,377,269
74,598,407
481,109,593
145.341,044
3,977,470
342,221.749
689,724,086
3,499,559,996 306,944,682 3,192,615,314 3,131.310,934
Population of the United States Dec. 1 1910 estimated at 90,965,000; circulation
per capita, $35 10.
* A revised estimate by the Director of the Mint of the stock of gold coin was
adopted in the statement for Aug. 1 1907. There was a reduction of $135,000,000.
o For redemption of outstanding certificates an exact equivalent In amount of
the appropriate kinds of money Is held in the Treasury, and Is not included in the
account of money held as assets of the Government.
b A revised estimate by the Director of the Mint of the stock of subsidiary silver
coin was adopted In the statement of Sept. 1 1910.
There was a reduction of $9.Total
^**2
This statement of money held In the Treasury as assets of the Government does
not include deposits of public money In national bank depositaries to the credit of
the Treasurer of the United States, amounting to $35,693,647 90.
Dee. 3
Dec. 6
Dec 9
Range Since January
STOCKS
YORK STOCK
EXCHANGE
On basis
NEW
Week
Shares
Friday
Thursday
Dec 8
Wednesday
Dec. 7
Tuesday
Monday
Dec. 5
Saturday
Sales 01
the
LOWEST SALE PRICES.
STOCKS—HIGHEST AND
250
*240
81s
Sis
31
643g
44
*_--63
*42
250
*8i8
♦2712
63%
9
31
65
42
42
*235
*98% 10012 *98% 101
35*4 36*8
35% 35%
93
*9212 94
93
“
9
9
9
76*4
76*4
76%
497g
497s
4912
914
7712
6OI4
*225
260
*8*8
27l2
61%
31
*27
63*4
43*4
6II4
4212
43
42l2
*90
*84
86
*92
37*8
94
9
9
4778
86*4
93
76*8
4814
76*2
49
112
68
46
♦90
87
*92
46*2
38
94
87s
76*2
878
9
761*
112
43*4
94
9
63*4
61*8
*95
86*4
35*8
*9212
77%
60%
75%
48
*111
*8%
27*2
65%
250
*230
250
*225
8*2
8* 1
*8*8
8*2
30
*24
30
*24
260
9
♦111
77*8
iff1
49*8
115
67
102
*220
*4
*20
200
100
7*2 J’ly
27 Aug 5
Do prei
55* r
85
64*4 144.220 Amalgamated Copper
46
4.300 Amer Agricultural CbemDo pret.
.
89*8 22,275 American Beet Sugar....
Do pref
400
94
77*8
60
115
605
J’ly
jau
10
26
4Aj Jan 10
j'ly 27
67* J neju
i>5% J’neiS
24
39
Do pret.
....
American Cotton Oil
Do pref
American Express
American Hide & Leather
Do pref
American Ice Securities..
American Linseed
Do pret,
....
American Locomotive..
Do pret.............
3
4t% Oct 21
J03
.
Xii*r Jan
82*4 Nov22
72%Jau 3
120 Moh 9
J’ly 26
39*2 J’ly 26
62
Jne,iO
109
250
12% Feb
64*4 Jan
J'ly 26
Nov
1678 Aug
57*2 NOV
90% NOV
50
Aug
103
Aug
49% Aug
98
Oct
15 s Nov
J’ne
86
Jau
190
Jan
Jan
90i.< Jan
J ly *8
9k% Apr
1.900 American Can..
Do pret
....
7,400
6,610 American Car & Foundry
9
270
15
Highest
Lowest
Highest
Nov23
245
Adams
Express...
Uls-Cbalmerj
Range for l^revious
Year (1909
1
of 100-s/zarc Iojs
Lowery
industrials: MisceHanoca.
*240
1559
Record—Goncluded—Page. 2
Stock
New York
1910.1
Dec. 10
691, Mctl 9
38
65
Feb
Feb
33*2
Jan
95*2 Jan
20% Jan
b2
J an
7% Feb
71% Feb
44% Feb
107% Feb
42% Jau
9s Jaa
76*- Nov
1243J Aug
79*4
Nov
52*8 J’ly 26
107% N OV
Deo i 107 Oct 13
*99
oiX) Dec
100
100
101
§235 Aug 8 —0 Jau 4 i-205 Feb
*99
*99
101
250
*220
Sep
10
250
♦220
6% Feb
8*s Jan
250
*225
3*2 Sep 13
250
“"i66
250 *225
*225
4
4
4*2
6178 Aug
4
34
Feb
4
47% «an
*4
4%
19
Sep 8
4l2
*4
*4
S3
412
23
*20
23
42*4
Apr
*20
1878 Jan
29*4 Mch
*20
22*2
lbSg Dec 7
23
*20
18
2,860
*2012 23
17
17*2 *17
20
J 'ne
12 Feb
17
16*g 17
17*4 J an
17
10*8
27
J'ly
1714 17*8
400
1712 1712
11*8 11*8
*1H4 12
29
Jan
47% J’ne
40% Jan
11*8 11*8 ♦Ills 12
26*2 J’neao
*1U2 12%
600
32
*30
32
♦115s 12
*29
49
Feb
80
69% Aug
30
30
30
29
J’ly 26
o2i2 Jan
81
*30
30
30
4.260
36
3512
35*2
122
35*2
Aug
86*4
109% Feb
84
3512 87%
I02l2 Aug 6 115 Jan
35*4 3612
350
105
105
35*4 36
*104
10512
106
*104
11% J’ne
8 Feb 18
3*2 J’ly
105
8I4 Dec 1
106
1051s 10518 105
300 American Malt Corp_...
*3
4
*105
3*4
Sep
5»
4
*312
88
NOV
4
48
Mch
21
*3*4
:
*3%
28% J'ne >0
Do pref
312
312
314
1,050
314
..........
33*4 33*4
32*2 33
80
Jan
83
92% AUg
907s Jan 3
3212 3278 *32
82 J’ly 23
82
3212
80 Amer Smelters See pret B
*32
32l2
*85
8578
77% Feb
105% NOV
*85*2 85% *85*2 86
104
Jan 8
*85
857g
6i3«
J'ly
28
Amer Smelting & Refining
741o
117,100
*85l2 86l2 §85*4 85*4
73*2
73*s
71*8
116*4 Aug
101 Jan
707b 7378
71*4 75
9814 J ly 2b 112*4 Jan 8
Do pret....
7378 75
360
73l2 74l2
103*4 104 *103*4 1037i
22) Mch (285 NOV
103*4 104
Apr 27
277 Apr 4 2*5
American SnutI
*10314 103*4 103*8 103*8 103*4 103*4 *245
*260
*245
105
May
95
Mch
*245
05*2 Ja*' 13 102 Deo 8
*245
Do pref
400
*245
102
102
101*4 101*4
00% Nov
3478 Feb
*10112 102
ou
jan 10
38
J’ly
26
Amer
Steel
Found
(new).
*100
102 *10012 10H2 101% 101%
1,783
41*2 42
40% 40*4
136% Sep
i 15% Nov
40*8 40%
40*4 4212
42
42
4234 43
2,900 American Sugar Refining Ul*8 Oct 3 1287s Feb 18
113*2 11478 11412 115*8
118
NOV 131 Apr
11412 114 114
1147,8 114
111*2 Deo 7 124 Feb 28
Do pref..........
114
11412 114
532
*112
115
112*8
112*8
145% Sep
125 Feb
11112 1111113
112
112 *11114 11414 113
9,425 American Teleph & Teleg 120% J'ly 26 1433* Feb 24
104
May
90% Feb
1397s
139
140*8 139
99*4 Mch 14
American Tobac (new) ,pf
90% J ly 26
139*4 14014 13912 140
94
x94
1,010
94*4
93%
20
Feb
40*2 Aug
93*8 94
39%
93is 9312
Men
*8
American
25*8
Jiy
6
Woolen
*9312 95
*9312 96
82
31
2.300
31
30
107% J’ne
29*2 30*4
98% Jan
Mch 7
3012 32
00u Deo 7 104
33
3312
Do pref......
33
33
93
1,912
*90% 91% *90
§54% Deo
90*s 91
9012 91*2
91*4 9212
92*8 92%
4.260 dAnacondaCopper Par$2i> J33*2 J’ly 26 $54 Jan 3
40
40*4
39
Mch
36% Sep
347. Oct 21
18*4
37*2 39
387g 3914
21
Jne 31
39*8 39*8
39
39
29
3.000 L>ethiehem Steel.......
Feb
69% Sep
47
65
28U 29*s *27% 29%
Jau 19
2914 2912
49
Aug 10
29l2 2912
28*4 30l4
1,400
O
Do
pret...
...
69
66%
59
Jan
164% Deo
68*2 68*14
ll8
5612 6912
6912 6912
5912 59lo
1,750 Brooklyn Union Gas.... 125 J’ly 26 164i2 jan 3
Dec
133
*13012
130*4
130*4
130
180
19% Dec
1778
18*8 Jan 3
132l2 133
3
J'ncijy
136
131
131*4 *131
300 Brunswick Term & Ry Stx
10
*9
912
9*2
37
Nov
9
9
33
*9
10
Jan 4
2378 Jan
*9
10
28
J’ne
8
Butte rick Co
9i2
200
9%
*29
30
Men
*29*s 297s
61% Oot
*29*s 30
25*2
48*4 Jan 3
29U 29*8 *29% 30
25*4 j;iy 26
*29*8 30
14,350
(
Leather
central
30*4
80*4
30*8
31
111 Sep
30*2 31
99*4 Apr
32
30
Do pref
99*4 J ly 27 109% Mch 8
31*4 32
200
3134 3214
*104*2 106 *110*2 117
63 Deo
29 Feb
50
Jan
22*2 J’ly 26
10512 105l2 105% 10512 *10478 106 *104*2 106
4,900 Colorado Fuel & Iron
30
31
30*8
30*4
91% Dec
21%
29*4 30*8
Fod
9212
Jan
31
31
297s 31
3
Sep
12
Ool
Hock
Coal
&
Iron.
&
3012 31
*4
6*2
*4
5*2
*4
5*2
165% J*n
*4
1H% Feb
512
160*8 Jan
*4
322
J’ly
26
5l2
Gas
Y).
Consolidated
(N
*4
512
10.425
131
132*2 132*4 133*2
26*2 J;n«
16*2 Feb
23*4 Jan
111, J 'neaO
13U2 132l2 13014 132% 130*4 132*4
181U 132
2.600 Corn Products Refining.
16*8 15*8
147g 15*8
93% Jne
15
15*8
73% Feb
15
I5I4
86*8 Jan
15
I5I4
15
15
Do pref
70% J’ly 26
120
78*2
*77
78*2
~
78*2
Deo
63
80
*77
45 Jau
*77
80
65
Nov 22
*77
79
66
78
Crex Carpet.
*76
Apr
70
♦58
*68
70
70
*60
41% jan
32% Feb
*....
70
*60
70
3034Jan
10
Hers*
Se
Distillers
Securities
Corp
70
2614
j
ly
26
*60
2.750
817g 32*2
31*2 817b
31
55
Mch
95*2 May
817s
31*4 81*4
12
Oot 26 60 Mch 8
Federal Mining & Smelt'g
3214 32i4
131*8 31*8
20
♦10
*10
20
94
Aug
20
80
Feb
6OI4
69*4
69*4
69*4
115
♦111
115
♦111
115
6912
6712
667s
65*8
67*4
6,310
57*8
200
102
250
100
...
—
—
*10
*45
151
20
57
*10
*45
20
55
152
*10
*45
20
65
*10
*45
55
*45
61
163
153
Do
87
pref
Oct 27
J’ly 26
Jan
88
172*4 Aug
160% Feb
$734 Oot 14
29,250 <fGoldfield Con M.Par $10
8*8
~o2“’jan II5%*Dec"
8*s
8I4
8.500 I nt Harvester stk tr ctfs s83% Feb 8 129 Jan
110*8 110*2
128
P«o
110
1087* 109
*109
800 X
Do pref stk tr ctfs... *117 Aug 11
121*4 121*4
121
121
9
Oot
121
121
7*2 Jan
25
Int
Mer
Marine
stk
ctfs
4*4
J
iy
*121
tr
121*4 ♦121 12112
*412
5*8
5*8
*4*2
27% Jan
6*8
*412
24*8 Jan
Do pref.............
26
12%
J’ly
6%
6l2 ‘*4%
*4%
17
~
*15
16*2 •16*2
19% Jan
16 Jan
16
*15
*14*4 16
16
J’ly 1
♦16
9
*16i4 16
600 International Paper
18
18
12*4 12*8
13
13
47s! Mch 69*4 Anc
13U 1314
6li2 Jan
Do pref...
41*2 J ly 20
*12*4 I3I4 *12*4 1314
66
1.900
55*2
66*2
*5412
66
55
64% Nov
33*2 Feb
64
64
*54
65
66
*54
36%J:iF26 54% Jan
7.450 Internet Steam Pump...
40
40*8 40*4
40*4
91
Sep
39*8 40*s
82% Jan
41
90% Jan 17
3912 40*8
4H2
78*2 j ly 26
Do pref.............
41
41*8
100
*8294 85
*82
84*2
85
113%
Deo
*82
104
J’ne
H6i2 Jan 10
83*2 83*2
85
*8312 85
Laclede
Gas
(St
L)
00m..
*83
2,080
95% Nov
70
Jan
103*4 103 103*4 10312 10344
98 Oot 10
104
104
10412 104% 10312 104U 103
400
Mackay
Companies..
x8S
88I2 89*2
77% D«0
69*2 Jan
*87*2 92
78% Oot 10
90
*8718 911s *87*2 92
90
Do pref..
200
*74
75
*74
120 Sep
75
*74
961. Jan
11a Jan
75
76
100
Aug
*74
747g 747, *74
740 XT atlonai Biscuit
IIOI2
111
130
Sep
108*2
111
108*2
125 Jan 17
118*2 J.aP
A*
111
Do pref
ii834 J’iy
*108l2 110% 109*4 110 *107
*120
122 *120 122
30% Deo
12% Feb
28*2 Jan
*120
130
120
12212 *120 122 *120 122
Nat
14
Enamel'g
&
Stamp’s
Sep
17
*14
18
*14
18
18
*14
82
99% Sep
Jan
18
*15
18
96i2 Jan 18
*15
84
Oct 17
*15
Do pref..
86
*81
94
AUg
*82*2 87
87
*82
71% Feb
*82
87
89% Jan
87
♦82
46*2 J'ly 26
*82
6.200
National
Lea
51*2
*51*2
51*4
6H4
60
50*2
102% Apr 113*4 AUg
60*4 52*8
10134 J’ly 26 110% jan 17
61*4 62*4
62*s 52*8
300
Do pref.
105
105
105
105
*104
106
*104
IO5I4 ♦104 105*4 *103*4 105*4
j;iy - $22% Oct 17 ~§5"’Feb 97% Nov
6.400 dNev dons Copper-Par $5
*18*4 19
18*4 19
18*4 18*4
19
95*2 Jan
19
59
18*8 19*s
J'ne
187s 19
400 JNew York Air Brake....
70
701*
70
*65
87% Jne
72 Jan
84 Jan
70
*67
6978 697b
70
*65
70
*67
00% Nov28
1,800 North American Co. new
62
624b 62*8
61*4
48*2 Nov
63
62
61*8
61*4
29% Feb
43% Jan
65
*61
61*4 61*4
22% J’^ 26
8.410
padflo
31*4
Mall
...
31
81*4
64
Oot
30*4
46% Nov
29*4 80*4
46*4 Jan
30
801s 317b
J iy 25
3H2 3214
30*8 30*4
1.425
Jtaciflo
Telep
&
Teleg-.
43*4
43
43*4
120
AUg
48
43
43
101% Jan
*43
43*2
43
*42
4312
1.600 People's GL&C (Chid . 103 J’ly 26 116% Jan
1047b
103
Dec
10414
104*2
991. Dec
103*2 104*4
84
J’ly 6 106*2 Jan
•104
10412 104*8 104*8 104 105
Philadelphia Co (Plttsb'h)
92
*87
92
♦87
NQV
29%
10
2
Apr
*87
92
92
*87
92
*87
92
13
J’ly 26t 27% Jan
*87
1.400 Pittsburgh Coal Co
17
168* 17*4
17*4
40
Feb
87% Deo
85 Jan
1612 17
17*4 17*4
60*4
J’ly
26
*17*4 18*4 *1712 18l2
1.200
Do
pref..
68*2
*66
66
Aug
66*8 66*2
67
66*8 66*4
66
80% Feb
517b Jan
69
25 J’ly
*67
67*s 67*8
2.180j Pressed
Steel Car..
30*4 30*4
29
29*2
29
96
Feb 111% AUg
28
29
29
31
90
JTy 27 107% Jan
Do pref
30*4 30*4 *30
95
95
*93
*92*2
200
AUC
*93
169
Jan
94*2
95
*9312 95
155 J’ne 2y 200 Jan 11
♦93l2 9412 *93
1,270 Pullman Company.,
*169 162
163
9% J’ly
1% jan
37*
161
161
2
Sep
26
162
158*2 I6U2I 1597b 16978 *159
162
Apr
gulcksllver
Mining
100
3*4
4
*2
3*4
10 May
4
8
Men
4
*1*2
5% May21
4
*1*2
Do pref
27g Aug 2
700
*5
6%
*11.2 46I4 *H2
5
6*2
321* Mch
6
64% Aug
6*4
5
5
28 J’ly 26
61%
Jan
8
6U
*4*4
*4*14
1,300
80*4
30
31
81
Feb 109 Aug
30*8 80*s
31
31
3014 30*4
*30
3312
810
£90*4 Sep 7 107 Jan 17
928* 926*
9212 93
96
*93
49% SeP
16% Feb
457g Jan 3
05*8 06
*95
21
J no 4
9712
9712 *95
7.200 Republic Iron VTsteeilll
80*4
30
3044
30*2
110% J iy
67% Feb
29*2 80*4
30*4 3H2
Do pref_
31*4 31*4
82*4 J’ly 26 104% Jan
307s 31
1,650
92*4
93
92*4
9212
93
92*2
931s 94
941s 94*8
150 J’ne 30 190 Nov 12
9412 94l2
100
179 179
*176*2 179
180
68
Feb
94% Oot
6ti%Jan 3
loss-Sheffield Steel 6s Ir
48I4 Deo 8
*17612 180 ♦178 180 ♦176*2 180
2,050
4944
49*8
48I4
49*4
49
49
49*8
107% Fep 120 Sep
Do pref
114 J’ly 5 118% Feb 1
4912 4912
16
4914 4914
114*4
*„_._
*..._ 114*4
110
$49 Jan
110
133% Oct
*.... 110
§11414 114U
5.000 dTennesseeCopper Part 2 5 $19*4 J’ly 26 $40% Jan 3
34*8 35
33*2 34*4
83*4 84*4
“35" 3514 3412 35
35
35
134 Oot 7 144 Oot 18
Texas Co (The)...
1,000
♦13512
138
*135*2
138
136
136
80% Feb "’93%jTy
95
May 18
83
Feb 8
13614 136l2 136 136% 136 136
100 Texas Pacific Land Trust
92
*88
90
90
92
16% J’ne
♦88
*88
92
9% Feb
92
*88
92
6
J’ly 5
*88
13% Jan 10
9
*7
*7
9
9
*7
66
Jan
81% J’ne
*7
9
73 Jan 17
9
9
*7
*7
Do
pref
52*8
9
210
Dec
62*8
62*8
§52*8 52*8
59
*52
116 Oct
125*2 Deo
122 jan 8
54
54
*54
60
*54
60
96
Aug
600 United Dry Goods Cos..
*0912 101*2 100 100
114
Dec
rl09 Sep
101
100
103
♦99*2 103
♦101
1137* Jan
*101
103
Do pref2
99*4
Aug
232
102
102
102*2
*100
35% J’ne
102*2 *101
102
24% Feb
*99
10212 1017s 1017s §102
J’ly 21 3? Jan
14*1
200 U S Cast I Pipe 6s Foundr
17
*15
16
*15
70 Mch
87% Aug
84 Jan 10
15*2 15*2
157b 157b
49
16%
J’ne 28
16l2 *15
Do pref....__.......
*15
100
55
*50*8 65
*53
54
82
64
Feb §111 Deo
65
*53
*50*2 55*2
6512 *53
United States Express..
95*4 J ly 26 145 Jan 10
*93 100
100
•93
87
Sep
100
*93
64
Feb
100
*93
100
*93
84% Jan 4
100
*93
64*4 J’ly ‘6
'§00
70
6812 68*2 *66
67
10 Mch
17*2 J no
67
68
11
Jan l
*65
*67
70
70
*67
Reduction 61 Refining
4
J’ne
27
S
7*1
*4*1
7*2
*4*2
24
Feb
$9*2 Aug
7*2
*4*2
13
7*2
29% Jan
*4*2
J’ly 8
7%
*4*2
7%
Do pref.............
*4l2
17
*15
17
*16
17
27
57% AUg
*15
Feb
*15
17
*15
17
62% Jan 3
17
•15
27
J’ly -6
United States Rubber...
83
2.000
83
*32*2
82*2
82
98 Jan
123% Aug
82*2
32
32
32
32*4
34
99
j’ly 26 116% jan 10
Do 1st pref..........
305
109
109*8
109*8
109
80*f
AUg
109
109®b
84 Jan 8
67*2 Feb
1097s 1097b *100*2 HO
Do 2d pref..........
60*2 J’ly 27
•1087s 110
200
73
78*«
T6
*71
72
72
91
947g Oct
41% Feb
*72
75
72
Jan 8
*70
72
75
United
States
Steel.....
61%
J’ly
20
995.227
72*8 78*4
724b
70
III
Oot
107
FeD
70*8 72*8
73
71*8 7414
74*8
Do pref............_
725s 73*8
110*2 J’ly 26 126% Jan 8
7,590
116
116*2 115*4 115*2 115*4 116
115
116
$39% Feb $07% Nov
1161s 115l2 115*8 116
tfUtah Copper...Par $10 :$39*s J’ne30 $60% Jan 6
20.800
45*2
45*4
44H 45*8
44
50% Deo
46
40% Feb
44*2 46*8
66% Oct 21
46*8
47 Feb 3
45*s 4612
3.600 Vlrrlma-Garollna Ohem..
2 6044
128 Deo
59*2 60*2
114
Jan
69*8
60
69*8 60*8
6OI4
60*8 61
Do pref....
lit J’ly 28 129% jan 4
360
122
*120
128
123
*120
67
Feb
73 Jan
757s Sep
121
8
121
•123
50 Sep 24
124l2 §123 123
V Trials Iron OoaTi"Soke
670
Deo
300 Jan
a 195
Jan 4
144*2 Deo
160
♦142
150 *144
64
Feb
*142
152
85% Nov
*142
152
*140
150
78% Mch 4
36 J’ly 26
§150 150
tern union Teleg..
70
1.707
70
90
69*4 70
74
Feb
Aug
70
69*2 70
70*4
82% Jan 8
70*4 70*4
49*t J’ly 26
70% 70l2
8,040 Werttngh'seEi&Mff assen
67
67
66
65*2
146
Mch
Sep
110
65
66
130
Feb 24
66
66
llo
Msy
65*2 66
65*2 67
800
Do
pret
124
*110
*110
124
120
130
124
*120
*120
124
*120
124
*15012 152*4
8I4
8%
52
149*4 151*2
8*4
8*s
108*4 109*4
14912 151%
8*g
8I4
10812 109l2
121*4 121*4
6*8
*4l2
•46
150*2 151*8
8**
8*4
1087b 10912
4,100
General Electric
134
16078 Jan
$9*< Sep 26
125% Jan 10
Wh
.
t
......
1108
.
$17*5
.
R*uS!5rD^!!‘. Spring
Sears, Roebuck & Co...
n3
,
977?
Union Bag 6s Paper....
...
SS Realty 6» Improvem’t
..
Yy ells Fargo A Q®.
.
TRUST
BANKS AND
BUi
Ask
Banks
Brooklyn
Bid
Broadway \ 380
405
100
165
800
126
Nat Oltr,.
North Side
t285
Banks
Brooklyn
Brooklyn lij
I*l’aT
HULsldoflll
290
Homestead!
Maaufao’re'
Meobanlas’T
Hontauk
Nassau
..
....
People’s
...
Pretp’ctt^kU
f
Terminal
N
153
158
150
....
-tr--
245
245"
150
”1
W&V
As tor
Bankers* Tr
.....
YOtty
•’way Tr.c,
tsr
“JSV.
uahla
i6o'
..
mmsrdal
90
...
Bid
Ask
148
14$
110
1016
iJi?
2(0
190
300
286
130
810
lrust Co’s
Quarter Tr. 800
Guardian Tr
Hudson
...
626
16V
295
Lincoln Tr.
Madison
Manhattan
Mercantile
.
815
Bid
....
810
180
175
300
130
203
Tr Oo of Am
135
205
400
$ •0?
180
830
IOO"
■
|
Washington
Westchester
Windsor
..
420
...
125
Fiatbush
..
300
Franklin...
|T 601%|
476
Unit Statest
Bid
Brooklyn
Brooklyn Tr
Citizens'
410
1290|
t
Kx-dlv and
paragraph
than 100 shares, tEx-rights, b New stock c
^ Banks marked with a
s Er- stock dividend.
1130
90
400
j
Trj t501
trust Co’s
Ask
But
trust Co’s
NY Life&Tr 1190
N Y Trust. 1612
Ask
289*2 267*2 TltLoGuA
876
4721
Seult'ble Tr 465
Farm LoJfci 1635 1650
MetropoTt’n
326 0 Fidelity ... 218*»| $17*51
Mutual.... 180
990
640 1 Pulton
Mut All noe 135
**1{t *** Mfcodprices: neorsates
on this day, 4Less
at auction this week,
ISftle at Stock Exchange
Co’s
Empire
116
415
230
1 rust
Ask
COMPANIES—BANKERS' QUOTATIONS.
330
Hamilton
Home .....
485*
Kings
..
LHLAtr
1185*2]
Nassau
875
18
hts.
are
5o
People’s
160
130
....
|
...
queens
60
tlllamsb’g'
d Now quoted
State banks.
_
Ask
270"
103
600
800
170
300
110
....
dollars per ■hart. \
New York Stock
Jtm. 11909,ths
Rseohangs method
1
BONDS
of
Exchange—Bond Record, Friday, Weekly and Yearly
ohanyed. and
all—-and
quoting bonds
Prise
Friday
N. T. STOCK EXCHANGE
Wiu Ending Dmo 9
was
prises are
Week’s
or
Last Bale
Dee 9
Since
,
interest"—mapt for Inooms and defaulted bends.
BONDS
Range
Range
now
January 2
Price
N. Y. STOCK EXCHANGE
Win Ending Dxo 9
t. ft.
Bid
Oevernnieui
0 8 2a oonaol
registered. <11930
_
„
As k Lou
High.,JSO
100% 101% 100% Oof 10
100% 101% UK)% J’ne’ioL
102
102% 101% Nov’10.
102 102% 100 Not* 101.
.
SU S 2e consol coupon....41930,
S 8a registered
*1918
S 8a ooupon
*1918
U 8 3a con small bonds..*1918
0 S 4a registered
1925 Q- f
U 8 4s ooapon...
1925Q-F
U B Pan Can 10410 yr 2a. *1936
Q N
_
_
lOl%J’iy*IoL
—
116% 119% 115% Deo’10.
116% 116% H6%Kov’lO.
100%...... 100% Aug’lO
f
Voreign Government
Argentine—Internal 6a of 1909.x*8 t 97% 98% 98
imperial Japanese Uovernm't
Sterling ioan 4%s.......l025 F-A
94% 95
94%
2d
senes
High Cent at ga Ktc-ftonj
Chatt luv pur man
100% 101%
g 4S.1951
Mae A Nor Diy 1st
100% 10U%
MW Ga A AU Diy g 6s. 1046
101% 102%
(&....1947
101% 103
Motiieinv 1st g 6s
10*6
102% 102% Um RR A B oi Ga oot
g 6s 1037
114% 116% Uentot M J gen*i gold os.1087
114% 115%
98% 26
95
94%
43
18
95%
08%
94
93%
96%
04% sale
94
95%
88% 89** 88% Deo'10
88% 92%
1103
bole 10*
103
20 101% 104
t 07
sale
97
97
9 ft 95
97%
06% 96*8 90
96
2 95% 99%
91% 00% 92% Nov*10'« 14 92% 97%
heee
4%s.......... 1925 J-J
Sterling ioan 4s
1031 J-J
Bepuo oi Cuba 5a exten ae0i.. M-8
San Paulo (Brazil) trust 5 s 1010 J-J
O 8 oi Mexioo s t g 6s oi
1899, Q-J
Gold 4s of 1904
....1954 J-D
are
1 *J
State and City Securities
N Y City—4%s
..I960
4% Corporate Stock
lo5U M-N
4% Corporate atock. ....1958 M-N
New 4 %s
1067 M-N
New 4%s
lol7 M-N
4%% Corporate Stock ..1067 M-N
4%% assessmt bonus.... 1017 M-N
4% Corporate stock.... 1957 M-N
N Y state—Canal impt 4e. 1960 J- J
So Carolina 4 ‘as *u-ao
1933, J-J
Tenn new settlement 3s.. 1913 J-J
Virginia tuna dent 2 3s...1991 J-J
pr ices
100% Sale
..
09% salt
09% sale
106% Sale
102%
106% sale
10* %
90 -4 Sale
the b aeis 0/ $5 to A.
o n
xv(J%
98%
100% 130 100
00% lol
99
99
106%
106%
102
106%
10*%
106%
102
102%
*4
\
96%
*6l 105%
102%
106%
6s deferred Brown Bros ctfs
91
45
37
103% 103%
04% 06
87
00%
Nov’10
88
36
103%
110
104
26 06% 100%
101% 105%
104% 104% 101% Deo'10
u3%J’iy*iu
06 % "oT
96
uot *10
80
101%
100%
100%
100%
102
80%
01%
06
36
36
66
Alaoamu
lahuAiiai
cent neeCoast
oo UjrBine
bet At
77% 79
08% Sale
98 **
90% Sale
90% Sale
8 Jfe Pres A Pit 1st
g 66.1942 M-S
ifl Knox A N bee LAN
t
Atlantic Coast 1st g 4s.A1952 M-S
Ala Mid 1st gu gold 6s ..1928 M-N
77
78
08%
99
18 J’ne’io
90%
9u%
92
Jan 'lo
8
00
•i’
lo8
98%Jao*A0
96%
95
110
65 Sale
107 %......
08
88
100
06
02
92
13. 80
105
100
90%
106% 106% Nov’10
104%
102%
96
93
74
83%
07% 101
274|
106** 104%
102%8*lo 102%
loi %8aic 107%
Conv4a (issueof 1910). 1060 J-D
10-year cony g os
Iel7 J-D
Debentures 4s Series J. 1912 F-A
Senes K
1913 F-A
Bast okiaDrv 1stg 4s..1928 M-s
Short Dine 1st4sg
1958 J-J
04%
117
122%
08
104%
104% 122%
08% 08%
98% beb'io
98% 98%
97
Apr’io
97
97%
03%
93% lu 92
04%
107%J’lJ 10 ...' 107% 109%
03%
109
95
48
92
96%
-—-
—-
,
.....
Long 1
1913|J-J
1913 M-S
Registered.....
1913 M-s
Garb A Shawn Bee Hi Cent
Carolina cent bee Seal) Air L
Stamped
2apret
income g
..
F-A
M-N
M-N
Get
....
6e....pl045 Get
2d pief income g 6s
stamped ....
3a prei income g
6s....pi945 Got
3d pret moome g 6s
stamped.1
....
.
no
102
102% Nov’10
.....
87
90
101% 104
112% sale
100
103
109
100% 101%
100
100%
98
09%
87%Moyf10
100%
125%
120% 126
107
100% 101% 100% Nov’10
100 May’10
09
99%
90%
fJ*rY+
no
103
120
1*2%
12i%
121%
108 NoVlO
121 % Sale
108
101
Br gen g 4s 1941
Cent Paoulo bee
no Pacific Co
CentVermont 1st gu g 4s. #1920
ChasAaay bee AU Coast lane Q.r
Cites A Ohio gold 68..
G1911 A-O
Gen landing A
impt5s.l9*9 j.j
1st oonsoi g os.
1939 m.k
Mot’10
Nov’10
85
88%
100
102
101%
106%
112% 10 110% 114%
112 % Jan’1. ..s, 112%
112%
lol
101 % 101
191% IT1 03
193%
101% J’ne’io
101%
*94% Salt* 04% 04% 2l7 101%
89
05%
88
88% Nov 10
87
89
85% 87
86% Mot* lo
83
88%
102%
104% Sep 10
104
104%
Registered
.1930
199*
........100*
1930
mg sandy rat ae
...1044
CoallUy Ry 1st gu 4s ..iU4o
112
M-N
m-s
M-S
f-a
j.D
j-i>
Crajg Vaney xstg 6s....1040
Potts Creek Br 1st 4s.. 1946 j.j
81
J-J
00
00
Jan ’09
M A A my istoon
g4S..1989 J.J
95% 06% 96% Deo’10
2d consol g4s
04% 09
1989 j.j
91% 93
01
Sep *10
Warm spr Vai 1st g6s..
90% 03
194i M-s 101
iu7% 113% freo’Oo
Greenbrier Ry 1st gag 4s ’40 M-N
90%
92
95
Oof
10
Clue A Alt RR ret
87% 96
g 3s...1940 A-O
78% 74% 73
73
1
70
77
Railway 1st Ben 3%s...l06o j. j
69 % 7i
60%
69%
1
68% 75
Registered
1050 J-J
76
Oct ’00
Ohio Burl A V—Deny ll 4s
1022 F-A
99%
09%
09%
Illinois uiy 3%s
ioo"
1040 J-J
88% Sale
87 %
88% 65 86% 83%
Registered.
1040 J.J
66%
88
Sep’10
Ills DlV 48
87% 88
1040 J.J
loo% sale 100
luO •> 3*
Iowa Diy sunt mud
08% 101
6s..i9l9 A-O 104 %...... 104%
Deo’10,
104% 104%
Sinking lund 4s.... .1919 A-O
00% 100% 00%
09%
08% 100
Nebraska extension 4s. 1021 M-N
08% 00
08%
08%
08
100%
Registered
102? M-N
101 % Mar’oy
ttoutnwestern Diy 4s....i02i M-S
01
10
97%
May*
Joint bonds am Great North
07% 00
General gold 4 %s
Registered
Convertible 4 %s
101a
General 4s....
1058
Han <a at Jos oonsoi
6s.. ion
Chic A B ill ret as
imp 4 «a 1965
1st oonaol g 6a
1084
General consul 1st
os.... 103 /
......
M-N
loo
J.J
81
83% 83%
83%
123% 1*7% 121 J’ly’iu
103% 111
no%Mov’ic ....!
114
May’oU
108%.
no
Get ’io
ti
n
Registered
,pl987
6s...1870-1929
Registered.... ...1870-1920
Sinking lund 6S...1870-1929
Registered.
1879-1029
102% 101 Dec’10
100% 102 •
00%
97% 60 06% 100
07
M-8
—
bin king iunu
101
M-S
A-O
M-N
Registered.
1037 M-N
Ohio A Did C
Ry 1st OS.1936 J-J
Chicago a Brie bee Brie
ChioGt Western 1st 4s.. .1069 M-S
Cum xu 00 xkmiwV ret
os...ls4i J-J
Belauding gold6s
1047
J
Boiusr N A A Ch 1st 6S.101W
J
Ohio Ina A Sou 60-yr
4s. .1066
J
cmoaLuaietPteruigos
1014 J-J
General g 4s aensa a..*1989 J-J
Registered.
<*1089
General g 3%s senes B.«1989
25-yr deuen 4s
1934 J-J
Clue A L au Diy
g os....10*1 J-J
Ciuo a MoRiy DlV
6s...1026 J-J
Clue A P W 1st
g 68
1021 J-J
Dak A Gt 80 g 6s
1016 J-J
Bar A Bon aasa g 6s..... 1024 J-J
HaCroaae a D 1st 6S....1010
J-J
Wia A Mina Diy g&s
10*1 J-J
Mil A No 1st cons
6s....1913 J-D
Extended 4*,s.
...1013 J-D
Chicoe Aoruiw coos 7s....1016
Extension 4s
1886-1926
Registered
1886-1926 Jf-A
General gold 3%a
198? M-N
Debenture 6s
<4-J*
%
sale
_
85% 85
no
1*6
114
.
85%
81
121
no
112
84
60
Ocf 10
*6<
127
108% 113
87%
124% 120%
Dec ’uu
10O
...
—
...
...
.....
.
.
....
....
110
112
99%
07
88
in
Moy'10,...II110% 113
Mov
00
05%J
112
no
loll*„!|
iy’loj.—j|
87 %
&9
03% Apr’00
110% Sep 'lo
06% 101
06% 95%
621 87
'
90
.‘110% iiis4
in%Nov*09....'!
106% bale 106% 105%
104*,
'106 Mar loj
_
100% 102
J’ne’iu
100
100%
91 %
92
02
02
04
102% 102% 102% Dec >10
'102% 103%
00% Sale
99
09 % 120 08
100%
103% Oct 08
‘*8*7% *88% 88 Nov’10
86% 89
92% 02% 02%
9*%
91% 93%
106 %.._.. lo7%Mar ln ...J lo7
% 108
108
108% Ocf 10 .«.} 107
U0%
106% 107
107
Dec’io
Iu6% 108%
102% 104% 103 % UOt *10
102% 103%
117%
116% May’10
106%...... 106% 1 Ui>% ...;1a6%116%
1! DM^lOd
106
luo% Aog iu ....'106% 108
103%
103% Aug'lo ...J 103%ww»
106%
00% 100%
—
A-O
A-O
A-O
O
lOO*«Dee’lo
.....
1 105
' I06
100%
116%Deo’10'..Jjn4%u7%
......
111% 116% ii6%J'Jy’io
1U7
109
108% 108%
96%
9t>
108
103
116
116% 118
116%
Aug’10
J’ly’08
J’ne’io
116% Sep’io
72
103 103% 103
100% Sale 100%
*
100% 100%
Mar’io
103%
101 %
100%
..'j 72 72
71102%
*83%
m%
108% Sale
go
89
87
109% Oet *10
106%
113
90
91)
87
oi
91
Sale
87
88%
83
86
85
83
107
Apr *06
...
90
Nov’10
87%
88%Nov’lu
83%
84
85% Oct *10
J
iH|^t’ELLANEOIJ8 BONDS—(Continued
1946 A-0
1st refund oony g 4s
2002 J-J
BkCity Istoon 6s. 1016.1941 J-J
Bk <4 Co A Soon
gug 6S.1941 M-N
Bkiyn Un El 1st g 4-6s.l06o F-A
Stamped guar 4-5s....l960 f-a
Kings CO El 1st g 4S....1049 F
Stamped guar 4s
...1040 F
Nassau Elec gu g 4s....1061 J
Conn ByA
DlstArefg4%s*61 J
Stamped guar 4%s
1961 J
Det United 1st con
g 4%s.l032 J
Havana Klee consol g 6s. 1052 F-A
Inter-Met ooli 4 %s
1956 A-0
Inter Rap T S yr oonv 6s.l911 M-N
45-year 6s Series A
1962 M-N
Internal Trso coil or 4s.. 1949 n-j
Manila Klee 1st A ooli 6s. 1063
M-S
♦No prioe Friday; latest this
week.
Nov’06
Jan *'0
110
107
1*1% 123% 122
Con ext guar 4%e
.Street
Hallway
Brooklyn Rap Tr g 5s
116
....
......
Carthage A Ad been
YCAH
CedB fa b AN
AMBCBAN
Oen Branch By bee Mo Pao
Cent oi Ga RR 1st g 6s..pl945
Consol gold 6s....
1946
Registered......
1946
1stpret income g 6s....pl045
...
High Ho Low High
90% Sep *09
104% J’ne 08
106
10*1 A-O 106
107%105%Nov 10 ....'105 107
Registered.............1921 A-O
106% *«d’ioL...i 106% 106%
Sinking iunu deb os
1033 M-N
109
*10 ...J’1U9
m%
Registered.....
1033 M-N
100
J'ly’osl
j*
Mil L S A West 1st
M-S
116
g 6s 1021
Bxt A imp stand
g 5s 1020 F-A 100
......100
Nov’loi_..J 100 11*%
Ashland Diy 1st g 6s..l02o M-S
117
142% H to *U2I...J
Mich Diy 1st g 6s
1024 J-J
117%
118% Nov’10 ....'118% H8%
Incomes
1011 M-N 100%
103% May’09'.
'
118% 116% Chic Rock lsl A Pac 6S...1017 J-J 109%
109% 100%: 6* 109% 112
1 105
109%
Registered
1017 J-J 108 110% 100 Aug’lo.... 109
.'! 06
109
00%
General gold 4s
1988 J-J
07% bale
07
98
44 04% op
Registered.....
1988 J-J
98% Feb’iO
98% 08%
..'116
117
Refunding g 4s
1934 A-O
80% Sale
80
89% 07j 86
9*
..•116% 116%
Coll trust Senes J 4s. ...101* M-N
07%J’iy’io
07% 97%
M*e
......1916 M-N
94%
jau’10
«4% 04%
N 4s
1916 M-N
94
Deo *09
105%
O 4s
1917 M-N
94%
May’
10
8 100% 101%
04%
P 4s
94%
1018 M-N
06
03% Aug’09 ....'
2 100% 100%
Ohio R1A Pao RR 4a..2UU2 M-N
72% Sale
71%
7 2 % 641
66%
Registered
UN
2002 ——
76% Msy’lo ....! 76% 80%
R1 Ark A Louis 1st 4 %s 1934 M-S inm *94*
04
MovlO....!, 03
96
bur C B <S> A—
XStg OS.1934 A-U 110% sale 110
110% *7,110 114%
Registered
1034 A-O
120%
Mar’031.
CRiP A N W 1st gu 58.1921 A-O 104%
......105% Oot ’10
106% 106
...109% 113%
M A St L 1st gu g 7s..1027 J-D
li*.
5 103% 109
Choc Ok a G geu g 6s .01010 J • J
104 May’10
104 104
Consol gold 5s.........1952 M-N
107% 110 107% lu7% 11 107% 110
25 82
91%
Book A Des M 1st 58....1023 A-O 100
101%
104
Peb’io
84
103% 104
00% Jhm st L A N o bee ill cent
16 75
88% Jiuo St DA Pitts See Penn Co
76
88% lino St P M A O con 6S...103O J -D 124% 126
Mi 76
!l25%Ocf 10...., 123 127%
86%
Cons 60 reduced to 3%a.l03O J-D
86
03
Dee’03
80
86
1
I
il
zx
w2d 6a
103%
107
102
£EAMB£KSB1SLS3S
pioio
Debenture 5s
Sep ’uy
BrunsA Wistgug4s..1938 J-J
03%..—. 04%Nov’1O
94% 94%
Charles A Say 1st g 7s..1936 J-J
L * N coll g 4S
01952 M-N
91 89** *96%
»8
91%
92
93%
%
Bay PA W 1st gold 0S..1034 A-U 1*2%
127
J’ue’ou
1st gold 5a..
1934 A-0 U0%
112
Mar*10
1*1*2** iYsi
SUSP oca AG gug 48 ..1918 J'J
95%
95
J’iy’10
06
97%
Atlanuc A Dany bee south
By|
Austin A M W Ass Sou Paoiho'
Oait A Ohio prior 1 g 3 %s.1925' J-J
92% Sale
91%
92% 13 90
93
O Registered....
90
91 %i 01% Oct '09
41926 %-J
Gold 4s
98
bait
A1948 A-O
07%
98
37
07% 100%
Registered
41948 %*J
99% 96^aNov’lo
06
99%
Pitts J uno 1st gold 6s... 1922 J - J 111%
120
Oct *ol
P Jun A M Div1st g 3 %al925 M-N
87% 87% 90 Deo’to
87% 89%
PLBA W VaSysref 4sl941 M-N
92
Sale
91 %
92
89
93
Southw uiv 1st g 3%s...l9*5 J-J
90
90% 00
90%
89
9*%
Registered ...........41925 %-J
88%
89 % Apr’it
89% 90%
Can Ohio R 1st e g4%s..l930 M-s
98%
103
Mar’io ...J 103
103
Cl Lea A W con 1st g 6s 1933 A-O *108
loo
no
2 109
113%
Monon Rly 1st gu g 6S..1919 F-a 101%
106%
Feb’OV
Ohio River RR 1st g 58.1936 J-D 103%
112
Deo’Ob
General gold 6s
1937 A-0 103
Jl
112
Nov’09
Pitts Clev A Xol 1st g 6s 1922 A-O 109%
1x9% Mar'04
Pitts A West 1st g 4a...1917, J * J
96*,
98 % Sep ’09
Stat lsl By 1st gug4%s 1943 J-D
80
10O
Nov'04
Seech creek bee MY c A H
Believ A Car Am Illinois Cent
f lan So 1st ext 6s
...
104%
go 6s..l9*l
103% Sale
82% Sale
1 101% 106
79% 8 7
102 % 103
) 100% 104
98
102
97% 00
101 Sale 101
8
101H,
09
103
101
101*. 101% Nov’10 • 10 99% 103
84% Sale
1
84%
84%
82% 85
84% 85% 85%
8&V
7 80
86 %
77% 78 Nov’10
76
82
81%
82% lie
102% 102% Mar’ll
100% 101% 101% Aug’It
79% 80 JTy’lC
95
96% NoVIC
80 Sale
79%
80
17 b
100% 100% 100% 100%
1
103% sale 103
103% 625
67% Mar’It
98
Msy’Ob
....
•■••a
;
t„„
102% 102%
100% 102
80
93
82%
05%
77
83%
100% 104
100
103%
....
67% 67%
....
TjFlat, aDueJan
d Due Apr
< Dus
an
Next Page*
Street Railway
Met St Ry gen ooi tr g 6s.l997 F-A
Ref g 4s. ...... ...........2002' A-O
Bway A 7 th AT 1st og6s 1043 J-D
Col A 0tll AV lStgU g 68.1903 M-S
LexAvAPFlstgugos 1003 M-S
Third Ave RRoongu4s2000 J-J
Cent Tr Co oertfs stmpd... *
Third Ave Ry 1st g6s..l93) J-J
N on By A lit gen 4%s ..1035 J-J
St Jos RyLtH A P lstg 5s ‘37 M-N
st Paul City Cab eon
g 68.1937 J-J
Tri-City Ry A Dt 1st 0 f 60.1923 A-0
o ndergronnd of Don 5s..U92t M-N
4%S...
D'3^ J-J
Income 6s
.1948
Union EL (Chic) 1st g 6s..1945 A-0
United Rys St L lstg 48.1034 J-J
United BRs San Frsl 4s. 1927 A-0
May
•••
gDueJ’no
ADue JTy
IsDue Aog
76% 77
75%
48
102
75%
74% 82%
Oot *10
102
46
08% Nov’10
08% Nov’10
60% Nov’10
68% Sale
68%
60%
106% 108 108
108
85% 84% Oct *10
09
08 Nov’08
06
•
mam-' vwissv
101
102
104
08% Sals
00%
89%
87% 88
95
81%
66
oDue Oct
l07%Dec»O9
08%
98%
98
uct
80
66
Aug’It
86%
»>
80 55
1 106%
68%
108%
84% 87
2o
96
•
99
••••
83
89%
81% 40
*08
Due Nov
102
96% 99
67% 60%
Apv’Ob
89% Nov’10
87% Deo’10
84
64.
08% 102%
08%
07
98%
*67%......
65
m
ASK Low
86
‘!
Ann arbor 1st g 4s
A1995 %-J
Atoll T A S b e—Gen g 4s. 1996 A-0
Registered
1995 A-O
adjustment g 4s
A1995 Nov
Registered
A1995 Nov
Stamped.........
41995 M-N
Cony 48 issue OI 1909.^1955 J-D
Conv g 4h
1955 J-D
bee
Bines
January l
0*8%
Albany A susu bee Dei A Hud
Aiiegiioi.y v alley bee Penn Bit
AUeg A West bee Bun B A P
Bkiyn A Montank
Dock a imp
Bid
Range
or
Last bale
...
tuiiiroat.
Bruns A W est bee Atl Coast B
Buttaio N Sl A Brie bee Brie
Bnitaio BAP gen g 5S...1937 M-s
Consol 4%s
1957 M-N
Ail A West 1st g 4S gU..1998 A-O
Cl A Mah 1st gu g 5s. ...1943 J-J
Rooll A Pius 1st g 6s...1921; F-A
Consol 1st g 6s
1922'J-D
Baft A Susq 1st ret g
4s.dl961| J * J
Bax ORAN bee C R 1 A P
Am
Range
Deo 0
Low
100% 100%
.
Weekft
Friday
■
•••••
•••«•*
79% 83
65
s
74
Option Sale
1561
Record—Continued—Page 2
New York Bond
1910.]
3.
N. T. STOCK
Week’s
Range or
Lem* Sale
Priee
BONDS
Friday
Dee 9
EXCHANGE
Wkkk Ending Dko
0
Ohio StP M «fe O—<ConJ
M-N
Oh St P A Minn 1st g 6s 1918
J-J
Nor Wisconsin 1st 6S...1980
A-O
St P A 8 City 1st g 6s...1919
■M
Ohio A West Ind gen g 6s?1932
Consol 50-year 4s
1959
Chic A W Mich see PereMarq
Choc O & Gulf Bee CBIAP
J
Oin H A D 2d gold 4%s...l037 M-N
Cln DAI 1st gu g 5s. ..1941
M-N
O Find A Ft W lstgu4sg.*23
J-J
Gin I A W 1st jru g 4S.1053
J-J
Ind Dec A W 1st g 5S...1935
1st guar gold 5s
1935 J-J
OlStLAC Bee C C C A St L
OinSAO fissCOOStL
Oct *00
105
Oct '10
ioi** io§*
85
874
101% 107
954
93
98
94
924
92 4
934 Deo’10
«2
92
904
93 4
*94
92% Nov’10
89%
1004
91
96
90
90
90
"90%
97%
97%
96
94
•
90
'-MS ’07
Dec *09
May’10
*126 4 Dec TO
684
68
11
1*0*6" May’10
1917
Registered
10-yr oonv deb 4s.
J-D
1916 J-J
44a ....1922 M-N
1st lien equip g
1st A ref 4s
.1943 A-O
Alb A Bos oonv 3 **8
1946 M-N
Bens A Saratoga 1st 7S.1921
Del fUv BB Bridge SssPaKR
Denv A B Gr 1st oon g 48.1936 J-J
Consol gold 44s.........1036 J-J
J-D
Improvement gold 6s... 1928 F-A
1st A refunding 6s
1955
O
Bio Gr Juno 1st go g6S.1939
Bio Ott Bo 1st gout 4s. ..1940 J-J
J-J
Guaranteed
1940
Bio Gr West 1st g 4s....1939 J-J
A-O
Mge and ool trust 4sA.1949
O
Utah Cent 1st gu g 4s al917
Des Hoi A Ft D See M A bt L
M-N
pes Mol Ua By 1st g6s..l917
D
118
....
984100
65
1164120
118
iU6
ect '10
99
Nov'iO
102 4 se0’03
120
Oct'10
Aug’Ol
149
984
98 4
984 Bale
100% 1014 100%
98%
994 sale
101
994
924 Q 02%
9x4 Bale
1234...... 123 4 Sep To
944 94% 94
1024 1014
101
IO0
1014 101%
69
89% Sate
98
.
....
90
644
79
78
85
91
85
90%
904
118%
110 4
97% 101
*12*0** i*io%
ib*2
69 *9*64
17 100
103
62 9641004
62
074
01
1234 1304
3
2
*5*7
Feb *08
Dec *09
Mar’o*
92% 97%
10141044
105
100
89
944
-
87%
904
844
83
Jan'02
Sep ’04
Sep 'lu
i
89
74
Oct* 10
1034 COt ’10
10b 4 Mar'uo
110
89
Bale
73
1084110
Pul Short Lone See Nor Pao
Dai Bo Shore A AU g 5S..1937 J-J
Hast of Minn BMStPMAM
Ciast Ten Va A Ga See So By
1064109%
M-N
94
88
72
94
94
89
107 *a
Oct '10
106
74
111
1064
107%
1084 1084
—iiao’*
:::.;i
114
*93
Nov'10:
...
J’ne’10
104
105%
J*J
F-A
J-J
J-J
J-J
sep '00
92
••••••
J’ly'09
09
99%
J’ne’Oo
00
96%
93
004
99 %
Nov’lu
Apr ’«>9
96
loo
,
100%
0*6** *09%
17
0/
4
06
87 4 May' lo
123 May'00
% 100%
96
87 4
884
**77%
74
77% Mar’lo
774 79% Dec’08
77%
85
89
*89* Feb*'10
88%
80
95
88
74
J-J
J-J
894
Dec'lO
99%
08
99 4 sale
96
100
06
90
102
*8*r* mu
1014 Oct '99
Nov’uo
loo
Cot '10
05
117 4 May* 16
*»4*‘ mu 96% Oct *10
11241104 116 cot TO
111
115 118 MaP 10
00
Cot '09
86
69
95%
—
110
1024 Balt
14% 18
105
70
914)
73
73%
114%110
118
118
•••!••
074
9/4
05
107
MayTO
06
964 98%
1074108% 107%
04%
11741174
95% 00
b/%Mar’lo
98 J’iy'ob
mm "Vs*
lo7%
98
110%
106%112
26 102
112%
15
86
MayTO
102
102%
15
NovTO
105 % Nov' 10
70
Hov’10
04%
044
102% 106%
60
04
77 %
014
714
74
see Lsoe ml a
City Sou 1st gold 3s..I960
Begistered.
.1950
A-O
Bef A impt 6s Apr 1950
Kansas City Ternu 1st 4s I960 J J
_
954
»•••••
JV4U1A Mush see Tol A O C
KCPtBAM See Bt L A B F
KCAMBAB See St L A B F
Kan C A Pacific See MKAT
Elgin Jol A East 1st g 6s. 1941
Elm Cort A No &«LehANY
1184 1224
120 Nov’10
10 M ■S 118% ....
100
Erie 1st oonsol gold 7S....1920
100
100 J’neTu
M-N
1004
NY A Erie lstextg4s 1947
1044 106%
1044 Oct '10
M-S
103%
1034
2d ext gold 6s..........1919
103
103
Mar*lU
8
100%
3d ext gold 4 **8
1923
1064 1064
1064 Jan *io
4th ext gold 6S.........102O A-O 1034 —
90% 09%
99% Feb’io
D
118
5th ext gold 4s
1928
118
118
cot’10
1*19
III"!
4
M-S
NYLEAWlstg fd 78.1920
80% 874
884
84 4
85
84
J-J
Erie 1st oon g 4s prior..1996
gl 4 Nov’09
85
Begistered.
1996 J-J *.....<
744
744 13 6*7*** *76%
74 4 Sale
1st oonsol gen lien g 4sl996 J-J
854 Feb’07
J-J
Begistered...........1996
83 4 874
864Nov’10
Peuu oeiitr g 4s
1961 F-A *86*4 * 86% 7i%
83
7x4 14 64
72 4 Sale
734
50-year oonv 4* A ....1963 A-O
68 1
694 31 66
69
4
sate
O
Senes B.1963
do
...1110 113%
110
Dec’lO
liO%
113
D
BuffN 7 A Erie 1st 7s..1916
8116 115
1114 lUS.
Ohio A Erie 1st sold 6s..1982 M-N 111%112
121 Deo '08
rf 108
Olev A Mahon Val gda.1938
i‘27**
1244 123% NovTO
Long Doox oonsol g 6s.. 1935 A-O 122%
Apr’10
14
Goal A BB 1st cur ga 6s. 1922 H*-N 104'1094 114
1034 CCt'00
100%
Dock A imp 1st oar 6S..1913
99%...... 00% Nov’10 ....'I 00 4 1034
N ¥ A Green L gu g 6s. 1946 M-N
6 J 99
104 4
101
101
N 7 Bus A W 1st ret 6s.l937 J-J 100% 103
LOO4 1004 Deo’06
F-A
2d gold 4*98
1937 F-A 80
!*.”
1**89*’
87 41 89 J’ne’lOj
General gold 6s........1940
....108 1104
Terminal 1 at gold 6s...1943 M-N ♦108% ......|110 4
M-N
Begis «6,000 each...1943
WtlkA Ea 1st gug 66.1942 J-D ’’00*’ *9941014 Mkr’ioCIII 10141014
'114 Cot *09
EvA Ind 1st oon gu g 6s.. 1926 J-J 106
_
aiAAGE
99% 104
10
03
ttu
07
94%
834 May'09
"0*9% Sale”
.1955{M-N
*••%•••
• •
t
03
09% Fee '09
94
2d gold 6s
1900
Trust Co oertfs
M-S
3d gold 4s
.1921
Iowa Central 1st gold 5s..1038 J-D
Gold 4s.
1951 m-s
J-D
James FA Clear 1st 4s...1059
U
102%
89%
87*’ III!"
129
87
03
89 4——
114%
lib" i‘1'3%
89
89
95
*99%
99%
113
126
*v
107% Api’07
Western Lines 1st g 4s..1051 F-A
Believ A Oar 1st 6s
1023 J-D
M-S
Garb A Shaw 1st g 4s... 1032
Ohio Bt LA N O g 5s...1051 J-D
1051 J-D
Begistered
Gold 3 4s
1961 J-D
J-D
Memph Div 1st g 4s... 1961 M-S
St L Boa 1st gu g 4s....1031
XudBlA West see C C C A Bt L
J-J
ind Ill A la 1st g 4s
I960 M-N
Int A Great Nor 14tg 6a.. 1019
M-S
97%
91
*0*7*4 io6%
oot ’06
104
Kan
1084Nov*10
108%
944
86
....
93%
10524A-O
LotuavDivATermg34s.1963
Middle Div reg 5s
1021
Omaha Div 1st g 3s
1961
Bt Louis DivAterm g 3s. 1961
1961
Registered
GoS»4s...
1951
1051
Registered
Spring Dlv 1st g 34s...1051
074
06%
103% 107%
Nov’10
1204 Nov’10
18U4 .»iu>’06
112% Nov’16
116 J’ne’09
114
034 05
...1963 M-N
1953 M-N
Begistered
Cairo Bridge gold 4s....1050, J *D
106
94 4
1014
Nov’lo
844
97
DMA Mack 1st lien g 4s.1995
Gold 4s.
.1996 •D
M-S
Det So-O B Dlv 1st g 4S.1941
A-O
Dai A lion Bangelst6s..l937
Begistered
1937 _o
2d lie
1916 J-J
113**
1st ref 4s
L N O A Tex gold 4s
944
94%
1004 Sep ’08
1962,.
Registered
87
Nov’10
1024102% 102%
1051
Registered....
1st gold 34s.............1051
Registered
1951 J-J
A-O
Extended 1st g84s.
.1051 M-S
1st gold 3s sterling
1051 A-O
Coil Trust gold 4s
1*6
09%JauTu
......
88
J
92
84
98
100
5
b 125 4 128%
99
I 08%
112
Col A Tol 1st ex 4s
1065 F-A
Houst E AW Tex See Bo Pao
Houst A Tex Gen See Bo Pee Co
llinois Central 1st g 4s.. 1051
10341114
11141144
96% 318
Nov’10
......*1004
11141U
J
Begistered...............1909
Col A H V 1st ext g4s..l948 A-O
100
160
95%
05 4
90
114
1264
Greenbrier By
Gulf A B11st ref A t g 5s 61952 J-J
_
J’ly'09
1024
884
'108% J’ne’o9
**96**
1937
Han A Bt Jo NmCBAU
97
126% 128
.....:il82 Apr'00
Bale 1106%
106
1933 J • J. ioe"
ousatonio SeeH 7N HA H
Hook Val 1st consol g 4 4s. 1990
Aug'10
Sep’10
*126%
125%
1038
See Ches A O
65
81*8
704Nov'10
6
93
97 7i
964
06%
97
97% 137 944 99
113
Nov’10 .... 1114114
02
84
96
1937
Begistered.
101
J’ne'Ud
95% Sale
6s....1937
January J
05
954 101
g6s..l022l J*J
1st guar gold 6s
Will A B F 1st gold 6s
944
67
89
63
118%Nov’iO
115
.....
Mum Union 1st
Mont C 1st gn g
1264
119
1084110 1084 Oct '10
11141124 111% Ul%
127 J'ne’Oo
94
Sep ’Oy
87
94
107
844
80
1937 J *D
K Minn Nor Div 1st g 4sl948; A-O *05%
94*’ j’ly'b’b
90** Nov’Vo
86
gold 4%a 1033; J * J
Registered
1933, J-J
Mont ext 1st gold 4S..1037 J-D
Reduced to
••••.*
5 g....l952
M-S
Begistered
Sinee
*1
'115
Deo ’09
1014 1014 Nov’10
114
Apr'05
112
101
J•J
Range
High No Low High
Ask Lots
Begistered
See MKAT
Dak A aGtWaco
So seeCMABtP
Del Hack A WesternM-N
Horns A Essex 1st 7S...1914
1st consol guar 7a.....l916 J-D
Registered.
1916 J-D
1st ref gu g 3 %*.—200o J-D
J-J
N 7 Lack AW 1st 6s...1921
F-A
1923 M-N
Uonstraotlon 6s
Term A improve 4s. ...1923
F-A
Warren 1st ret gn g 3 >*8.2000
M-S
Del A Hod 1st Ps Div 7s.l917
St Paul M A Man 4s....1033
1st oonsol gold 6s
1033.
1054 1054
964 984
06
08
108
108
97% Oct '10
96 Aag'10
108 Oct ’10
1094 Deo ’09
Loot Sale
1021
Begistered./!
106% Feb’io
1u5*9
*1036
934
88
92
106%
J
Cm S A Cl oon 1stg6s.. 1928
J-D 108
O C C A l oonsol7s......1914
Consol sink fund 7s....1914 J-D 123
J
General oonsol gold 6s. 1934
J-J
Registered
......1934 A-0
ind Bl A W 1st pre< 48.1940
J
O Ind A W 1st pf 58...<t 1938
90
91
A-O
peo A East 1st oon 4s...1940
61
60
pr
Income 4s
1990
Ciey A Marietta See Penn HR
Olev A Pitts See Penn Co
66
69
Col Midland 1st g 4s.
1947 JFA 96% Sale
CoioradjA Boo 1st g 4a.. .1929
97
Bale
M-N
Bemnd A ext 4 Sjs ......1935
J-D 112*4
Ft W A Den C 1st g 6s.. 1921
Colam A Green v See Bo Ry
Col A HOCK Val See Hock Val
Col A T01 See Hock Val
Ool Conn A Term See N A W A-O
Oonn A Pas Bits 1st g 4s. 1943
'99%
J-J
Cuba BB 1st 60-yr
23
Dee 9
A-O
A-O
1084112
no
Week's
Range or
110
A-O
111% 114%
Georgia A Ala See sea A Line
Ga Car A Nor
See Sea A Line
Georgia Pacific See So By
Gila VGA Nor See 80 Pao Co
964 Gout A Oswegat See N Y Cent
934 Grand Bap A Ind See Penn BB
944 Gray's Pt Term See Bt L 8 W
J-J
95% Gt Nor—C B A Q coll tr 4s 1921
91
Wfr
M-S
Erie A PItte See Penn Co
...
Evans A T H 1st cons 6S.1921 J* J
1st general gold 5s
1942
Mt Vernon 1st gold 6S..1928
Soil Co Branch 1st g 68.1030
L'argo A Bo See CtiM A Bt P
; lint A Pere M See Pere Mar
FlaCAPenin See Sea Air Line
Fort St If D Co 1st g 448.1941
Ft W A Bio Gr 1st g 4S...1928
talHarASA SssBoFacCo
Tai H A H of 18821st 6s. 1913 A-O
3
Price
Friday
Rid
Low High
123
127
84
83 *s 86% Oct '10
1004104 102 Sep *10
107 4 Dec’02
8pr A Col Dir 1st g 4a.. 194D J-J
W W Val Dlv Istg4s...l940
M-N
C 1 St L A C oonsol 6s..1920
■I
1st gold As
—
■F
Registered
118
108 *s 106
.
1990
January 1
......
MSj
w
N. Y. STOCK EXCHANGE
Wkkk Ending dec 9
Sinee
No
J'ly'10
122% 127 4 129% May’09
112%
112%
112
1104
1104
108*6 110
92
01%
92
bale
OlearheldA Mah See B RAP
D
Olev Cm C A St L gen e 4s 1993
J
Cairo OUT 1st gold 4S....1939
J
Cln W A M Dlv 1st g 48.1991
M-N
8t L DiT 1st ool tr g 4s..1990
M-N
registered
is
High
ASk Lou
122% 126*4 123
Blh
BONDS
Range
1
Deo. 10
63
08
Kentucky cent oee LAN
Keok A Dee Mo see C B IAP
Knoxville A Ohio See So By
108'allO
J-J
A Wlstg6s..l937
Lake
Erie 5s
12d gold
1941 J-J
106%
North Ohio 1st gu g 6a.. 1946 A-O
L bho A Mich B see N 2 Cent
J
Leh Val N 71st gu g 4 4s.l940
J
Registered.
..1940
M-N
Lehigh Val (Pa) oons g 4a.2003
Ry 1st gu g6a.l04i A-O
Registered.
1941 A-O
Leh V Coal Co let gu g os. 1033 J-J
98
109% NovTO
....,
108
il*3** 118*4
118
A1931,
10381, u
106%
944
90
NovT6>
1064Mar 10
♦
Leroy A Caney Val See Mo P
uong Dock See Ene
Long Isl’d—1st con g 5s. A1931 Q.J
’uo!
101%NovT0|
98
1064 107 4
1084112
10 105% 1084
10?
106
105
NovTO
113% NovTO
109 4 cot ’00
108 Nov’U0
98% Mar TO
105
08
03%
110
109
96
100
914 96% 94
....
110
ib’i*4
no
xi2%
r
......
07% Saio
1022 M-S
06
1014
101% **9 ’09
100
07
05
01
04
Gold4s....
1032 J-D
Unified gold 4s ....—...1040 M-8
Debenture gold 6s
1034 i -D
105
06% 08
1x24116%
ib*i*4 Feb’10
102
4163
08
1084112%
...
...
MarTO1...
106% 107
Leh ANY 1st guar g 4s.. 1946 M-8
Registered
1945 M-S
£10AN 1st pf6s .....1014 A-O
Gold guar 5a
1914 A-O
Leh A Hud R See Gent of N J
Leh A Wilkesb See Cento! N J
gold 4s
General gold 4s
Ferry gold 44s
tHU
107
103%
Leh V Ter
1st oonsol
101
73%
73%
TO!-—1
97 %! 3
Oct
97%
99% Oct ’06'.—
93%MaiT0 ....]
1044
•mmama
93
97
034
07%
100%
96
Dec’08'.—
U186£LLAli£OU3 BON DS-CMtlmed oa Next Page.
tiaa and Klectrlo Light
Atlanta G L Co 1st g 6s...l947 J-D
Bklyn U Gas 1st oon g 5s.1046
Buttalo Gas 1st g 5a
*.1947 A-O
Columbus Gas 1st g 6s.... 1982 J-J
Detroit city Gusg 6s......l023 J-J
Det Gas Co oon 1st g 5e...l91fc F-A
Eq G LN 7 1st oon g 6s.. 1032 a-s
GasA Eleo Berg Co eg 5s. 1940 J-D
Rap G L Co 1st
g
Kings Co Ei LA P
g
Ur
5s
1016
F-A
Hudson Co Gas 1st g 6s..1949 M-N
Kan City (Mo) Gas 1st g 6s 1022 A-O
6a... 103?
A-O
A-O
Purchase money 6s
i997
Ed El li Bkn 1st oon g 4s 1039 J-J
Gas
Bt
Lac
Lo!
L let g 5s.«10l9 %-F
Bef and ext 1st g 5s
1034 A-O
Milwaukee Gas L1st 4s.. 102? M-N
J-D
*
No
Gaa and Klectrlo Light
NYGELHAPg 5a...l948 J-D
102
106% 1064 106% 107
60% Sep TO
65
105
i*ob% ibb% iob*4 ’Too %
LOO** i*o’i*4
100
105
ioi 4 ib*5*4
......
86% Sep ’Ob
105 Oot’lO
614 cot ’01
•eeeee••••»•
100 Oot ’00
98
101
102% ...... 162% NovTO
97 Mar’lo
97
101% 102% 160% 100%
114 Oct TO
118
116
08 NovTO
86%
102%
1024
1024 Bale
101
100% Bate 106%
......
■
80% 92%
......
91
......
prioe Friday) latest bid and asked this week,
Apr’10
a
Due Jan
107%
66% 67
Purchase money g 4s...1940 F-A
Ed El III 1st oons g os..1005 J-J
N7AQE1 LAP lstcon g 5sl930 F-A
N Y A Rich Gas 1st u 58.1021 M-N
Pacific G A Eleo Co Cal G A E
M-N
corp unifying A ref 5s 1*3?
A-O
POO eras A C 1st OOU g 68.1043
ioi
85
110%
93
87
97
tOO
102
1104 116
Refunding gold 5s
1047
CliG-LA Ckelstgag6s 1037 J-J
J-D
Con G Co of Ch 1st ga g 5s.’3b
M-N
Ind Nat Gas A Oil 36-yr 5s ’86
58.1047
Philadelphia Co oonv 5s ..1910
86% 90
1064105
ttyraouse Lighting 1st g 6s.’51
99
1014 Trenton G A El 1st g 5s.. 1040
91
02% Union Eleo LAP Istg5s.l932
Westchester Light’g g 6s.l95u
6 Due Keb
Mu Fuel Gas
1st gn g
dDue Apr «Due
M-N
F-A
J-D
.0-6
M-S
J-D
Sal*
99% 108%
101%
86
85
110% Oot TO
106% Mar TO
97 4 J’ly ’OU
92
'
116
106% 101%
•eeee
10
93
67
111%
91
98
116% 118
Aug’10
101% 103% 4*i 161% 104
1024
102% 104%
102% 103% 104 Oot *10
100% 162
LOl
Not’10
100% 103
U64117**
M-S
1014163%
iof^ 1014
834
sale
♦
100
07
98
00 - NovTO,
90
Mtti’lo
1004 101
99% Nov’10
101
....
08
116
93
1004
162%
116 4
...
Aug’10
*w»t*06
Oct'K
102%Nov'lC
May A Due J’ly is Due Aug q Due Deo
101
00
08
06
101
105
100
93
160
08
108%
00
s OpUon Bala
1562
New York Bond
BONDS
N. T. STOCK EXCHA
Wkkk
Price
NGE
dec 9
kxuisii
Long Island—(Con)
Blu
Guar rel gold 4s
1949 M-S
g 6s..1911 M-S
1st 5s
1911 M-S
N1B&M B 1st con g 6s 1935 A-O
N Y & R B 1st
g6s
1927 M-S
Nor SUB 1st con ggnSs ol932
Q-J
Louisiana & Ark 1st g 6s. 1927 M-S
Louisv <fo Nashv gen a Os. 1930 J-l>
Gold 5s
193? M-N
Mahon
CoalBySee
L S 48.1990
AM8
anhattan
consol
SSMcong4intgu’38
So
i(.3
No
7
96
Low
tiiytl
94*4 100
110*4 Nov’06
105
Apr *07
104
104
Nov’09
97
1 15*2 114
U4
111 Hi Deo’io
1
98H,
----
-—
984
97*4
96*4
97*2
-102
105*2
89*2 92
106*4 112*2
-
88*a
Apr'06
1!
9734
Nov’lO
May’10
73
73
87
964 974
98*4
94
99 7s
7b
Registered
*»V
09*4
27*2 317s
75
79
Nov’10
131
132
x08
Nov’lO
Mar’10
Registered
-N
100*2101
102=4 109
67*a 81*2
87
91a4
96*2 Nov’10
*
1931
1940
1940
1961
1962
1929
J L «fc S 1st
g 3 *23
lstg 3*28
20-year deb 4s
Bat c * atur 1st
gug 3s.1989
N Y Chic & St D 1st
g 4s 1937
Registered
1937
Debentures 4s
1931
West Shore 1st 4s
gu...2361
77
79
100
100
Jan’07
100*2 J>1y’10
108=4 1U8
94
93 7s
-J
c
Price
««•«-
^
£ £
ASK
Low
Since
January 1
JJifffi
No Love
2
78
1
79^
High
82*4
80*t
97
98»4
98*2 98»a
79*2
80
80*2
80*2
98 \ Deo TO
93*2 Nov’lb
79*2
98»,
98*2
166*4
84*2
97*2 Apr’09
987a J’ne’lO
93
105
93
108
9*8*4
95 7b
95
98*8
*02
oei
103
95
Aug’10
Oct ’09
*9*5* **i * 9*8*2
7a Nov TO
83*4
107
....
110
10 17b
102*8
80*8 91*4
99 7b 100
100
Nov’»0
90 Si Sale
89*2
90*2
88
88a4 89
89
93^ Sale
93
93=8
93*4 Sale
9234
93*4
100
24
5
109»b 115
110*2Oct TO
108*8....:. 119 J ue’U6
97
93*a
85
99
99
99
Apr TO
9l3< Nov’10
87
89
90
98
»7*2
9ia4
87
J *D
99=8 Sale
983s
110‘s 110**
Jan To
Dec *09
J’ne us
99
90
99
100
91
100
100
92
95^4
9o34
Oct ’07
Deo’09
130*9 Jan’09
120
107
90
92**
88
92
92
109
100
122*4
A-O
102
89*2
23
21
110*2
110
100
110
1*0*4** i*U4*"
104
J’ne’xO
102 *8 Feb To
84
Oct TO
92
J ‘ue’09
115
J’ne’09
125
Feb’08
96
99 7b
93** *93**2
131*2 Jan ’u9
106a4 110*4 107 Nov’10
101=4 103
105
JaD’Os
M-S
M-N
6* Green w Lake See Erie
*
See X Y C * Hud
N Y Lack & W See
D D* W
N Y D E * W See
Erie
NY* Doug Br See Cent
of N J
N Y N H *
H—Conv 6s.. 1948 J-J
Conv deben 3*28
1956 J-J
Range
or
Last Sale
80*2
3:“i
J-J
A-O
A-O
M-N
J*J
2361 J-J
Registered
Range
Dec 9
Bid
LXXXXI.
Weetfs
itiday
N Y Cent & H
K—<Xonj
Mich cent coll
g 3 *28....1998 F-A
Registered
1998 F-A
Beech Creek 1st
gu g 4s. 1936 J-J
Registered
J.J
1930
2d gu gold 5s
1936 J-J
Beech Cr Ext lst 3
g
*28 61951 A-O
Cart <fc Ad 1st
gu g 4s. ..1981 J-D
Gouv <fc Os we 1st
gu g 5s 1942 J-D
Moh & Mai 1st
gu g 4s..1991 M-S
N J Juno R
gu 1st 4s...1986 F-A
N i da Harlem
g 3*28...2000 M-N
N Y <fc North 1st
A-O
N Y & Pu 1st con g 5s...1927
A-O
Nor & Mont 1st gug 4s 1993
gu g 5s.l916 A-O
reg
guar 6s. 1932 J-D
Creek
R W& o con
1st ext 5s. A192 2 A-O
Oswe & R 2d
gu g os...el915 F-A
R W
O T R 1st
gu g os.1918 M-N
Rutland 1st con
g 4 *28. 1941 J.J
Og&DCliam 1st gu 4s gl948 J.J
RuDCauad 1st gu g 4s. 1949 J-J
St Law Jfc Adir
lstg os. 1996 J-J
2d gold 6s
1996 A-O
Utloa<& Blk Rivgug4s,1922 J-J
Lake Shore gold
3*28....1997 J-D
Registered
1097 J-D
Debenture g 4s
1928 M-S
25-year g 4s
1931 M-N
Ka A & G R 1st
gu C 58.1938 J-J
Mahon 0*1 RR 1st 5s..1934
J-J
Pitts & L Erie 2d
A-O
g
Pitts McK & Y 1st 6s.al928
gu Os.1932 J-J
2d guar 6s
1934 J-J
McKees* B V lstg 6s 1918 J-J
Mich Cent 5s
1931 M-S
96*4
Mar’10
77
79
100
132
118
1084
109*a 114
99*4
99>4
3 i 78 May’ lu
25 *2 Apr’09
76
130
Ill0*4 110*2
Nov* 10
97*4
994 99>2
95 H
7 110
111
.Ji
5 !* 9*4**
Nov’10
Oct ’10
97
104
114
•s'I 91
^
BONDS
N. Y. STOCK EXCHANGE
Wkke Ending Deo 9
[VOL.
3
£***e
105*4 110*4
113
110*4 Oct '10
‘Y~. *98“
110
118*2 118*s
1123s 112*2-Nov’10
110
94
97»4
103
106
121 °s 125*4
121*6 Nov’10
93
974
111*4 115
118*2 -Nov’10
105Hj Nov’iO
110*2
lu9>a 114
Ills, 114
96°(, 1004
107
115
Oct’10
104 >2 Nov’ 10
113
Sep’10
714
71
M»y’09
92 Hi 93 H. S©P ’10
iiT* Sale 110
111
103
110
Jan’09
94
94
94a« 94
102 >2
102
Sep’1C
90
90*4 Oct '10
ibT4
ioi" ibT
i ii’2‘4 ii6»4
26b
97*4 Nov’10
100‘s Deo’09
107*2 8ep’lb
113
J-J
Since
101 =a Dec’Oe
104is 106
122 4
117 >8
105 >4 111
A-O
Range
*
January 1
liign
95*4
108
111
MoK'pt A B V
MStPA
Lou
98=b Salt
Registered
1990 A-O
Stmpd tax exempt.. 1990 A-O
See N Y Cent
Mex Cent cons g 4s
1911 J-J
1st cons ino g 3s
ol939 J’ly
2d oons ino g 3s trust reots..
Mex Intern&t 1st con g 4s. 1977 M-S
Stamped guaranteed... .1977 M-S
Mex North 1st gold 6s....1910
D
Mich Cent See N Y Cent
Mid of N J See Erie
Mil L 8 & \V See Chic A N W
MU A North See Ch M A St P
Minn A St D 1st gold 7s.. 1927 J-D
Pacifio Ex 1st gold 6s...1921 A-O
South West Ex 1st g 78.1910 J-D
1st oonsol gold 5s
1934 M-N
1st and refund gold 4s.. 1949 M-S
Des M A Ft D 1st gu 4a...’35 J-J
Minn <& St L gu See B C R A N
ASK
101
101
94
Unified gold 4s
.....1940 J-J
Registered
1940 J-J
Sink fund gold 6s
1910 A-O
Coll trust gold 5s...
1931 M-N
E H & Nash 1st g Os....1919 J-D
LOin & l^ex gold 4 *28. ..1931 M-N
N O & M 1st gold 6s....1930 J-J
N O da M 2d gold 6s
1930 J-J
Pensacola Div gold 6s...1920 M-S
St L Div 1st gold 6s
1921 M-S
2d gold 3s
1980 M-S
Atl Knox & Cin div 4s..1956 M-N
Atl Knox & Nor 1st
g 5sl940 J-D
Hender Bdge 1sts£g6s. 1931 M-S
Kentucky Cent gold 4s.. 1987 J-J
LAN A M & M 1st g 4 4s 1946 M-S
L A N-South M joint 4s. 1962 J J
N Pla A S 1st gu g 6s...1937 P-A
NAC Bdge gen gu g44s 1946 J-J
Pens A Atl 1st gu g 6s.. 1921 P-A
8 A N Ala con gu
g 6s.. 1936 P-A
L * J ell Bdge Co gu g 4s.. 1945 M-S
L N A A CR See 0 I A L
Range
Last Sale
95Bs Sale
Bkiyn & Mont 1st
^ ts
Wee A-a
or
Friday
Dee 9
Record—Continued—Page
100
20:
I>ec’09
91*2 Oct TO
90
101*2 100*2 xOl
TOO *8 Dec’io
133*4 133*2 133*8
99*2 100
92*8
97*2 100*2
92
99*4 102*4
96*4 100*2
13334
130*4 135*a
99a4
99**8
96*8 100
M S S M A A 1st g 4 int
96a4 103*4
Housatonic R con g 5s..1937 M-N 112
121
*924 98*2 98 uj Jan'lu
gu 1926 J-J
112 *2 Oct TO
98*2 98*2
N H *
112*2 116
Minn Un See St P M AM
Derby cou cy 58.191b M-N 100*9
107
Aug’09
NY* North See N Y
Mo Kan A Tex 1st g 4s...1990 J-D
97 4 98*4 97*4
C * H
y7fls 11 96 4100
N YO&W ref
2d gold 4s
95
83>4 83*2 82*4
Sale
lstg
4s.,ol992 M-S
ffi.990 P-A
3
95
83*2
82
96*8
95
87=4
88
1st ext gold 6s
Regia$5,000 only
1944 M-N 10i>a lo2
102
Nov TO
ol992 M-S
loiHiJ'ne’Ob
100
105
NY* Put See N Y c
1st A refund 4s
80 >4
2004 M-S
*
H
gOHjNov’lo
N Y * R B See
78»a
85*4
Gen s 1 4 >28
84 >* 85
1936 J-J
island
84
85
83*2 9034 N Y S * W See Dong
8t L Div let ref g 4s....2001 A-O
Ene
88
Apr’09
N Y Tex * M. See
Dai A Wa 1st gu
M-N
101
So Pac Co
g 5s. ..1940
105
J’ne’10
105
105
Nor* South 1st
Kau C A Pao 1st g 4s...1990 F-A
89*4 697»Not 10
g 5s......1941 M-N
106t8
101
May'10
89 7a 93 8, Norf * West
100
Mo K A E 1st gu g 6s...1942 A-O lire 3* 114
101*2
gen
g
6s
1931 M-N 124*8
llO^s Get TO
125
TO
106
113
123
M K A Ok 1st gu 68
Improvem’t * extg 6s..1934 F-A 123 128 126 *% Sep
126*2
1942 M-N 107 >s 10a4 106°s Nov'lb
ilar’10
103
108*2
New
M K 6a T Of T 1st
River
124=8126*
102
105
lstg6s
gug 68.1942 M-S
Deo’10
1932 A-O 122*2 125
101
123
May’10
N
100*8105*2
...!
123
*
Sher Sh A bo 1st gu
W
124*4
102
Ry 1st con g 48.1996 A-O
109
99
Sale
g 5s. 1943 J-D
llO*4 Apr’09
99
98*2
55
96 Hi 100
Tex & Okia 1st gug os... 1943 M-S 1054 109
Registered
105 *2 Nov’lO
1993 A-O
97
105
Apr’10
97
108
97
Mo Pacific 1st cou g 6s ...1920 M-N
108 >2 109
- J
108*2
198-i
2 107
92*2
92*2
l
111
91
10-25 year conv
Trust gold 5s stamped.al917 M-S
93=4
lOi *4 sale 101*4
4s....1932 J-D
s>aie
161*2 12 100 102*4
99a4
89
99*4
V
94
268;
Hi
Pooah
C * C joint 4s..
108*2
Registered
al917 M-S
88
1941, J-D
83*4 88
oO^Mar’lo
88 *8
5 86*a 00»*
99=8 99^b
1st coU gold 5s
CCA T 1st gug 5s
1920 P-A
100*8 102
1922' J-JT 104
105
101s4 Nov’lO
Nov’lo
100
102
Scio
40-year gold loan 4s
=p
104=4
106
VANE
iVIS
1st gu g 4s 1989* M-N
76*2 77
1945
97
77
NotTQ
76
96*2 Deo’10
94
3d Vs oxtd at 4%
817e N orth Illinois See Chi
96=S|
58 *s 9534 Nov’05
1938 M-N
* N W
N orui Ohio See L
1st A ref conv 5s..
195 M S
Erie * W
917g Sale
0i34
92
89
96
Nor
Cent Br Ry 1st gu g 48.1919 l5-A
Pao—Prior Deng 4s..1997 Q J
91=b saxe
91=8
99*^ Sale
99 7e 128 99
51=*
99*4
91*a 95
Cen Branch U P 1st
85
Registered
1023*
86
98
g 4s. 1948 J-D
87 ^ May’lo
99
*..1997 <4-J
99
99
5
86
87
*2
98*4 101
General
lien gold 3s
Leroy&C VALlstg6s 1926 J-J
110
M.iii’u5
a2047 <4*^
70*4
7U34
7u34
70*4
36
Pac R of Mo 1st ex
69*2
74
Registered
g 4s. 1938 P-A
a2047 *4-P
06*4 CCt To
70
?u
96 T
P 69
St Paui-Dul Div
2d extended gold os...1938 J-J
72Hi
1X0*2 110
96
no
g
4s....1996
*D
J
110
96*aNovT0
113
8t L Ir M A Sgen con
Dal short D
96** 97>*
lo74 107
g 6sl931 A-O 107
lstgu
5s.. 1916 M-S
107*4
99
Eel)
TO
105*2
99
110
C B*
Gen con stamp gtd g 5s 1931 A-O 106*2
99
coil tr 4s AecGtNor!
111
Sep’09
St P * N P
Unified A ref gold 4s..1929 J-J
gen g 6s....1923 F-A
83*s 83 *2
116
88 *2
8*1“ *86“
116*810
RiV A G Div 1st g 4s..1933 M-N
115*8
Registered certific’s..l923 ty-F
118*4
84*4 84 °8 84 *4 Dec'lo
11(
jb eu’10
Mi. 17
82»i 87*4
Verdi V i & W 1st g 6s. 1926 M-S
St Paul * Dul 1st
117
6a....1931 P-A 100*8
102*2 Jan’lu
Uu
J’ne’lo ...,'TIO
102*2 102*2
2d 6s
MobJ A K Cist cons g 58.1953 J-J
no
i 03
08
Dec’06
1917 A-O
;103
Oct TO
J:lu3 103=8
Mob A Ohio new gold 6s..
1st consol goid 4a
121
1927 J -O U8
92
1968
J
-D
96*2'
118*2
118*2
U5“
96H.
1st extension gold 6s../il927
Wash cent 1st g4a
Apr’loJ....Ij 96Hi
113*4 115*2 114*2
91
1948 <4-M
..•....! 92*4 Nov’lU ....1 92*4 97*a
1*4*2,
General goid 4s
114*2117*8 Nor Pac Ter Co 1st g 6s.. 1933
92*4
b3
90
1938
111
J -J
86*2 °ct ’10'
...J 110*2 111=8
86*2
90
Nor
Rv
cal
Montgom Div 1st g 6s..194 F-A 105
Sea so Pao
loo *2 Nov’10
107
St D A Cairo coll
N
or W is
109*2
See
80
C
SC P M * O
g 4a..«193o
75
May’08
Nor * Mont
Guaranteed g 4s
N Y cent
1931
92*2 94
94 Nov’lu
94“ *96“ I I ina * W See
M & O coil 4s See Southern
See C C C * St L
Mohawk A Mai See N 1 C A K
vyino Riv RR see Bait *
o
Ore * Uai See So Pao
Monongahela Riv See B & O
Co
Mont Cent See St P M A M
Ore Short Dine nee Un
Pao
Morgan’s Da A T See S P Co
Oswego * Rome see N Y O
Morris A Essex See Dei L A \\
pao Coast Co 1st 6s....1946 J-D 104*2
104 DeoTO
1 aooi Missouri g
102*2 108 7*
\j ash Chat A St D 1st 7s.l9l3 j j 106*2
See
106*2 Deo’10
1st consol gold 5s
106*2 110*4 Penn RR 1st real eat Mo Pac
192a A-O 109=8 110 *2 110
g4a.l923 M-N
110 1
■102
Aug’10
108*2
Consol gold os
110*2
Jasper Branch 1st g 6s..1923 J.j 1L5 *2
i03*a
110
..1919 M-S
lu9 *2 «*au ’oJ
lid7* Nov’lO'
MoM M W A Ai 1st 6s.. 1917 J-J
il57» 115 7g
Consol gold 4s
lUU *2
....1943 M-N
103
117 *4 Mar’05
102=4
cot
T
j
T <6 P Branch 1st 6s....1917 J-J
Convertible
106 *u
lUjD'* 106
g 3*as
1912 M-N
113
98 7s sale I 9b78
J’ly’04
Nash Pior A Shef See L A N
99
21 I 91 >102
Convertible g 3*28
1915 J-D
957a-3al© ! 95j4
Nat Rys of Mexpr 14 4s 1957 J -J
957b
27!
947b 97*2
Consol
gold
4s
94*2 Sale
1948 M N 104
»ai» 103
943a
104
Guar gen 4s
93*2 9534
32 101=4 1047b
1977 A-O
89*2 9U»4 89a4 NovTo1
100
Oct TO
Nat of Mex prior nen 4*28.1926 j.j
87*2 92*8
190 102=4
1U0*4 104
94*4 100*4 Not’10
1st consol 4s
100*4 102*4
1951 AO
833g 8434 84*4
101=4
84*2
82
lui=4 DeoTOt.
New HAD see N Y N H A h
85
Sou Bay * so 1st
101=4
101=4
g 5s...1924 J - J
100
I02
N J J uno RR See N Y Cent
jau’oJi.
U N J RR * Can geu
4S.1944 M- S
103*8 May’10).
N Y Bkin A Man Bch See D 1
i*03
Penn Co—Guar
ibT*
lstg4*28.1921 J-J 103 104 103*8 103
103
N Y Cent A H Rivg 3>a3.1997
*b|
106
Registered
J-J
89
Sale - 88*2
1921 J-J
102 ^...... 1u3=4 Feb’iO1.
89*2' 22 873b 92
103*4
Registered
Guar 3*28 coll trust
103=4
1997 J-J
88*2 87=4 Nov’lO
reg. 1937 M-S
88*2
90
90
Deben g 4s
Aug’lJi.
86=8
90
Guar 3*ascoll tr ser B...1941 F-A
90*4
1934 M-N
93 *2 Sale
93
88=4 69*4 89*4
93*2 261 92
88
Lake Shore coU g 3 43...1998
89*4|
9534
Tr
Co
91*2
certif’s gu g 3*28.1916 M-N
F-A
98
80=4 Sale
98^
79^
97=8
91V
80^ 60 79*a 82*2
05=4 98*4
Registered
Gu 3*28 tr ctfs C
1998 F-A
79
Sale
1942 J -D
79
79 1 24 78
87*2 89=4 87 Aug’10‘.
87 90
Gu 3*2Str Ctfs D
80*2
1944 J-D
88*4 90*4 91
...
Div’il8tl*geng48...1944'J
92**i *92’4
• ••
.
“I“I “934
ibo’ae
....
ib’i"*-]
3:^
lil^NovTO
.....
n
*102
....
......
94«J
...
..
....
iMi8C'ELL 4NEUU8
BONDS—Continued
Coal and Iron
Buff* Snsq Iron
Debenture 5s
C01
i?
a
15s....1932
a
* 1 Co geu s 1 g
Convertible
Col Indulst*
68.. 194o
deb g 5s....1911
coll 5s gu..l934
Contin’talC lstst gu5sg.l952
Or Riv Coal * C 1st
g 6s..1919
Jett & Clear C & 11st
g 6s.1926
Kan & H C * C 1st s f
g 5S.1901
Pocah Con Collier 1st s f 5s.’5 7
Sunday Creex Co g 5s....1944
Tenn Coal gen 6s
1951
Tenn Div lst g6s
al917
Biriu Div 1st consol
6s.. 1917
Cali C M Co 1st
gu g 68.1922
De Bar C & i Co
gu g 6s. 1910
Victor Ifuel 1st s t 5s......1953
Valron CoalAColst
*No price t
g
j-D
1926 M-S
F -A
F A
F-A
F-A
A-O
j-D
J.J
J
J
-
J
j
J.J
A-O
J-J
J -D
F-A
J -J
5s.l949 M-S
riday; Latest
96
90
95
99
75
99Hi Nov’09
90
97=4
90
100
87
95 *a Sale
bid and asked,
a
3
Due Jan
94*2
Aug’09
ODueb'eb
90
101
Manufacturing Sc Industrial
....
Jan TO
95*i
90
96
93
Next Poire
Allis-Chalmers 1st 5b
1936 J-J
Am Ag Chem 1st o 5s
1928 A-O
3*0
99*2 Am Cot OH ext 4*28
1916 <4-F
2
70
82 *4
Am Hide * D 1st s t
g 6s..1919 M-S
Amer Ice Secur deb g 6s.. 1926 A-O
Am Spirits Mfg 1st
gbs.,1915 M-S
Am Thread 1st col tr 4a..191* J-J
Am Tobacco 40-yr g 6s.... 1944 A-O
83
83
48
1951 FA
3etli Steel 1st ext si 5s..l92b
61 102
104*2
.lent Leather 20-year g 68.1925 A-O
103
107
Jons 1 Tobacoo g 4s
1951 F-A
103=8107
Corn Prod Ref sf g 5s—1931 M-N
1st 25-year sf 5s
1934 (M-N
iob“ ibo“ Cuban-Araer
Sugar coll tr 6s T8 A-U
97
Nov’lC
100
99*2
99 H
7a H, 76*2
77
107=8 Dec’U4
90
101
102=0 Apr’06
95
107
May’97
90
100
105H) Dec’06
85
83
J’ue’10
78
Feb'07
103 *a Sale 10278
103 H
104*2 106
104=8 Oct TO
104=4 106
105
Nov’10
106
110
Jan’09
Deo’09.
on
12
e
94*2100
Due
Distil c^ec Cor conv 1st g 6s.’2
AO
E I duPont Powder 4 Hs..l93b J »D
76*a Sale
70
103*4 102
08*2 97
90
04*2
04*8
91
100
80
98
66 H.
98
92*4
Sale
Sale
86*4 salt
99*4 Sau
79*8 80=4
97
97*2
94*a 91=4
96
97
77*4 Sale
85
95
66*a
97
77
DeoTO
9
-
v
97
10
3
2
2
00*4
66 H
97
0
Duo oct
n
72
100
03*4
02
66*2
94
89
84*s
103
084
102
734
101
92*4 Nov’10
93
105*2 106H, 114 L04*4 109
79 7q
80*4 80 76*2 86*4
86 *4
85=8
i
83Hj 89
9.) *4
98*2
40
97
102
80
97
Nov’10
97*8
8
05
94*4
10
96*2 J’ly TO
77*2
78. 185
84 Nov’10
....
May firDnej’ne TtDue J’ly A;Due Aug
^
Due Nov q Due Deo
76*2 834
974
984
93
03H
90
97
67
84
83
/Plat.
78
Deo. 10
—-—-—
,—
■».£
BONDS
Friday
STOCK EXCHANGE
Week Ending Deo 9
N. Y.
Pennsylvania Co—(Con)
Guar 15-25 year g 4s
Bee 9
AO
1948
195U
Erie& Pitt6gug3%s B.1940
1940
Series C
Series C 3‘as
Series D3%s
100*4
106
106
90
91 *4
92
92
100
106 %
104
104
M-N
F-A
J J
J-J
J-J
GrH&l ex 1st gu g4%s 1941
J-J
Pitts Ft W & C 1st 7s...1912, J-J
2d 7s
.1912 A-0
10334
3d 7s
41912 M-N
Pitts Y& Ash 1st con ds.1927
A-O
PCC& StLpui’as A... 1940
A-0
Series B guar
1942 M-N
Series C guar
1942 M-N
Series D 4s guar
1945 FA
Genes E3>a guar g....l949
1953 J 0
Series F 4s guar
A-O
C St L & P 1st con g 5s.l932
Pensacola <fc Atl bee L & Nash
Poo & East bee C C C <fc St L
Peo An Pek Uu 1st g 6s....1921
2u tfold 4 %8.............51921
J-J
Pere Marquette—Ret
J -D
Ch<& W M 5s
1921 A-O
Flint & P M g 6s
1920 M-N
1st consol gold 5s
1939 A-0
Pt Huron Div 1st g 6s. 1939
F-A
107
107
103
Aug’09
M ay’OH
y2%Nov'io
98% Api ’04
U>4% Oct ’09
104 % Dec ’10
104 % Nov’10
107
Oct ’08
109
May’10
107%NovT0
107
Oct’10
106 ‘a
106 S
89*3
93% ^ale
9s*4
97
98
98
Spokane Internal 1st g 5s
112
112%
97
95
95
100
98%
ot St L 1st g
Tex & N O See So
Tex & Pao 1st gold
86
99 %
81
117
76
100L
94
Sep*10
78
Dec*09
97%
07*3
44
90
80
CO1*
81
21
11
4i
77
73s*
96%
98%
88
93%
79
82
72*3
79%
101%..
101*%
12
76%
99
171
80
91
Apr’10
103
1U4
104
Nov'10
104 % Mar'10
iu4
J’ly’io
106
Apr’10
..
103%..
104%
J-D
A-0
M-N
M-N
M-N
M-N
J-J
A-O
A-0
M-N
J-J
AO
1st gold 6s
1920 J-J
No of Cal guar g 5s
1938 A-O
Ore «& Cal 1st guar g 6s.l927| J-J
So Pao of Cal—6s E A F.1912IA-0
1st gold 6s
1912 A-O
1st con guar g 6s
1937 M-N
8 Pac of N Mexlstg 6s..l911| J-J
So Pao Coast 1st gu4s g.1937; J*J
Tex<&NOSabDivlstg6s.l912 M-S
Con gold 5s
19431J - J
..
92
92%
92
91
92
96
96%
96% Sale
96*4 sale
97
90*3
90%
94
88
92
96*4
96%
104
106
104*4
10
92%
Oot’lu
103%
104%
106
89
86
92*4
94%
97
277
97
Feb’10
87%
91*®
9u*4
J’ne’lU
104*4 a«y ’09
103*4 106*4 106 % May’09
103*4 Aug’10
104*4 106
109 % 110
103%NoVT0
109 % Nov’09
106*3 110
93*4 Nov’10
94
96
119% Mar’lu
115% 118
103%
109%
95
91
112
102
102
107*4
100
84
100
Feu’07
J’ne’io
196%
98%
97
94
106%
110%
116%
110%H0%
.—
Nov’10
.114 *3 Deo ’04
T02
.
116
May’07
93
I 90
J'iy'09
loo
102
Registered
1929
Gen
ioi% ib*2%
101*4101% 101% May’10
101
!102 Nov'09
gold 4s
Income 5s
West No Car
105% 106%
105
107%
105% 107%
105% 105%
91
91
105% 106%
104%107 %
115%
98%
109%
109
96
109
2
108% 112%
70
70
70
M.ar’10
103
Sep ’09
106% Nov’04
98%
104
102
109% 110% 110%Deo’10
....
A-O
J-J
J-J
A-O
F-A
J-D
J-D
76Si
81
83
86 %
104
106
87
100% bale
83%
1939
1939
87
76% Nov 10
70
93
109
98
M-N
F-A
J-J
M-S
111%
93 *4
Apr’10
75%
90
62
luo
83
75*
47
Sale
6%
6%
7%
7%
89
Sale
83
109
88
r
T
100
100
Telegraph and Telephone
Telep & Tel ooD. tr 4s 1929 J-J1
Convertible 4s
1936 M- 3
Am
4%s.’39 M-N
j. j
J.J
M-N
M-N1
105
108
Sale
86
102
90
56%
105
77%
107%
Deo’uJ1
72 -a
83
33
32
4
4
...
Sep TO
!
-
Dec’10
48% 170
46
8
16
7 *4
6%
7%
86%
86
68
54
11%
12%
90%
86%
68%
...
73
74%
109% 110*4
..!! 86% 92
..
..
..
104% 105%
103 % 104
102
99
j’neTO
82 ^
82%
98% Oct TO
93
52%
82%
! '*1
Nov’101..
92%
92%
77
90
88%
89% Nov’10
105%
92% 92%
103%
90
102% 102
97*s
98%
113*4
13 107
6 j 98
J’ly’10
103%
82%
96
93
96
..J| 94
7i%Feb’lo
73*a Apr’10
100% Nov’09
110% 110 Nov’10
90
86% Sep To
34
Feb’07
105
96
Alar'lD ....'1
63 1 439
83
46
i
117
5 108% 113%
52 I 91
94%
86
J’ly’io
J’ne’101.... 100
86
08% 100
98%
98%
95
61
39 94
7 113*4
Jau’09
Nov’OS
1U3
<11943
1937
Pao Teitfc Tel ist 5s
West Union col tr cur 5s.l938
Fd and real est g 4%s...1950
Conv 4s, Senes A
1936
y5%
96
85
See South Ry
Supdb Duldivdb term lst4a’36
97
115
98
6,2 % Sale
99% 102
...J| 98% 101%
Iu3%i204;l0! 116%
Deo’09
100
96
1911
100
85,
J’ly’10
110% 105
94% 94 Oct ’10
ioy %
109V1U9
99%
99
99%
107
106
Nov’U*
107 *s
F-A
J-J
20-year equip s f 5s ...1922
Wilkes & East See Erie
Wii A Sioux F See St P M & M
W is Cent 5U-yr 1st gen 4s 1949
101%
94
104%
86%
91
87%
J’ne’10
Noy'10
Oct ’09
10U%
93%
90
81
80%
»3
83
89
104
86
103% Sait 102%
96%
96% sale
94
95% bait
114
114
114 %
111 *4
111 % aair92%
93% bale
Istg5s..l937
1943
YTelep lst&gensf
92
Avtg’10
100
loo
J-J
J-J
M-S
J-D
F-A
J-J
J-D
J-D
J-J
Sep’10
93
87
91%.,
89%
Wheei’g <& L E 1st g 5s...1926 A-O
Wheel Div 1st gold os..1928 J
N
1U0%101
100%100%Qct’10
116
105% 105%
114
...
J-D
1929
WestN Y«fc Pa
90%
115
ioo
102
iii% ii3%
...
Mar
J-J
Guar refund 4s
Trust Co certfs......
W Va Cent <b P 1st g 6s
98%
92
119% 119%
107%Jan 09
114*3 116*3 115 % Nov’10
110% Oct ’10
110%
104% 106
...
Debenture series B
1939
1st lien equip s fdg5s..l921
1st lien 50 yr g term 4s.1954 J-J
1st ref and ext g 4s ....1956 J-J
Dot & Ch Ext 1st g 6s..1941* J - J
Des Moln Div 1st g 4s..1939! J - J
Om Div 1st g 3%s.......1941 A-O
Tol & Ch Div 1st g 4s... 1941 M- S
Wab Pitts Term 1st g 4s. 1954 J-D
Trust Co certfs
2d gold 4s
......1954 J-D
Trust Co certfs
Warren bee Dei Lao & West
Wasn Cent See N or Pac
Wash O <fc W See Southern
Wash Termi 1st gu 3 %s.. 1945
West Maryland 1st g 4s...1952
....
loo
105%
106
107
105%
M-N
F-A
.1947
1927
Wabash
2d gold
1st5sgold os
..
102
103 %
M-S
M-S
M-N
Vandaiia
consol g 4s ....1955
Cruz<fcPlstgu4%sl934
103% 109
107 *4 Nov’10
106% lo7
105%
Utaiidb Nor gold 5s.. 1926
Uni N J RR & C Co See Pa RR
Utah Central See Rio Gr Wes
Utah & North bee Un Pacific
Utica & Black R See N Y Cent
78%
104
106% 106%
110
106
109
114%
J-
M-S
90%
110
80% 87
107% 107%
89% 93%
82 % 82 %
lo6%May’lo
107
*2
104%
81%
73
84
106
6
102
106% 106% Sep ’09
104% Oct’10
105%
109
Aug’10
Id7%
93
98%
98%
109
Nov’10
108
108%
104
71
103 %
^2008
ore Ry <fc Nav con g 4s. 1946
Ore Short lane Istg6s..l922
1st consol g 5s
1946
1st & ref 4s
87
92
103
100*4
103**
..
39
104
....
95%
111%
l2 103 %
J-J
....
105%
M-N
4s ...1947
20-yr conv 4s
86%
-
94 %
107%
118
M-N
Pao Co
5s
2000
Registered
100*4
69%
Oot'lu
93%
107%
1
High
No Low
40
93%
86
J-J
1945 J - J
1915 J-J
1927 A-0
Ulster
Dei 1stg con
1st &
refund
4s g 5s 1928
1952 A-Ol
J-J
88%
8l*s
6
Hign
112% Nov” 0
116 Nov’10
105% Nov’10
Nov’OS
82
105%Oct ’10
105% Nov’10
75
Oct ’08
103
Nov’10
112
Oct’00
108% Dec ’06
107% Dec’09
105% Nov ’10
105%Nov 10
91
Feh’10
era
83*3
Nov’10
92
103
..
34
85
loo
112
116
J-J
Ver Vai Ind <fc W See Mo P
Virginia Mid See South Ry
J-J
Va & Southw’t 1st gu 58.2003
1st cons 50-year 5s
1958 A-O
87
Oct ’09
86
104
J-J
A-O
General gold 5s....
Kan & A1 1st gu g 4s....1990
Toi P & W 1st gold 4s....1917
Tol StLdb W pr uen g 3 %s.l92o
50-year gold 4s
1960
Coil tr 4s g Ser A
1917
Tor Ham & Bud 1st g 4s./tl946
101 % Apr’07
84*4 Sale
84*4
100
100 % 100
76*4 sale
74%
83% 84*a &4 8
91
81%
o
Low
F-A
Dec TO ...11106 112%
J - J 107% 108% 107%
112
A-O 108 102 101% oep’091
99
104%
Dec’10
1935 J -D
90% 94%
89% 91% 94% Mar’10
120
105
90
90
26
84
100%
99
33
78*3 85
117*3
114
82*4
si 76
86*4
Oct *10
106
1955
Since
January
106% Nov’ 10
110
FeO’lu
107% 109
110%
110% 110% 110%
104% Nov’10
101%....
66
Nov’U9
67
J-J
J-J
M-N
M-S
2d gold inc 5s
.....g2U00
La Div B L 1st g 5s
1931
W Min W <te N W 1st gu 5s ’30
Toi & O C 1st g 5s
1935
Western Div 1st g os...1935
124
108%
91%
120
Apr’10
107
Sep’10
91% Oct ’lu
J-J
A-0
4%s..l939 A-O
l 1st con gold 58.... 1894-1944 F-A
Gen refund sfg 4s
.1953 J-J
St L M Bge Ter gu g 5s. 1930 A-O
98*4
88%
J-J
J-J
J-J
J-J
Deb os stamped
Rich & Aleck 1st g 4s...1948
So Car & Ga 1st g 5s....1919
Virginia Mid ser C 6s...1916
Series D 4*5s
1921
Series E os
1926
General 6s
1936
Guar stamped
1936
W O <te W 1st cy gu 4s..1924
West N C 1st con g 6s..1914
S & N Ala
See L & N
’»7
Nov’10
83
87
Sal*
99%
J-J
J-J
J-J
J
J-J
J-J
J-J
Morgan's La & T 1st 7s.l918
90
88
6s
Rich & Dan con g
Un Pao RR & 1 gr g
F-A
M-S
W 1st gu g 6s....1941
I
98*4 119
Nov’10 ....I
97
1
97
85
Consol gold 6s
1943
Ga & Ala Ry 1st con 5s ol945
GaCar <& No lstgug5s 1929
Seab <& Roa 1st 6s
1926
Sher Shr & so See M K <&> T
Sli Sp oca & G See Atl Coast L
Southern Paoillo CoGold 48 (Cent Pao coll).icl949 J-D
J-D
Registered
/el949 M-S
20-year conv4s
g 1929
Cent Pao 1st ref gu g 4s 1949 F-A
Registered
1949 F-A
A «fe N
Mortgage gold 4s
111*3 112*3
...
J’iy *10
93% J’ly
St P Minn & Man .See Gt Nor
St P <to N or Pao See N or Pac
StP * S’x City See C st P M «fco
S A <& A Pass 1st gu g 4s... 1943 J-J
8 F
N P 1st sink t g os.1919 J
S»T F A West
See All Coast L
Soioto Vai <fc N E See Nor «fc W
Seaboard A L g 4s stamped ’50 A-0
1911 M-N
Coli tr refund g 5s
guar...1912
15 106*3106*3
7
97 *4 98*4
27 i 90*4 94
112%NovT0
112*9
118% 120%
& S F—dleng 6s.1931 J-J
General gold 5s
1931 J-J iub%...
89
91%
St L «fe S F RR cons g 4s..’96 J
86*4 Sale
Gen 15-20 yr 5s
1927 M-N
99
si
Southw Div 1st g 5s..1947 A-O
8lSi salt
Refunding g 4s
1951 J-J 116*%
M-N
K C Ft S & M cong 6s.. 1928
77%
KOFtS&M Ry ref g 4s 1936 A-O 100
K C <fe M it <fc B 1st gu 6s. 1929 A-O
97*4 98
Os'rk&ChC lstgu6s g.1913 A-O
St Louis So See Illinois Cent
90*4 Sale
St L S W 1st g 4s l>d ctfs.1989 M-N
80
Sale
2d g 4s mo bond ctfs...pl989 J-J
77
Sale
Consol gold 4s
1932 J-D
96%
Gray's P t Ter lstgug 6s 1947 J
St Paul <& Dui See Nor Paoiiiu
Gen gold 4s int guar..1921
Waco <fc N W div 1st g 6s ’30
103 *3 107 34
...
■
89
St Louis
goid3%a..A:1929
107
...
9i>.
109
107*0
109
...
er A
Registered.
1997 AJ-JO
Jersey cent coll g 4s. .21951
Rensseiaer & bar
See D & U
Rich & Dan See South Hy
Rich <fc Meek See Southern
Bio Gr West See Den & Rio Gi
ttoch & Pitts See B R «fc P
Rome Wat & Og See N Y Cent
Rutland See M Y Cent
oag Tus & H See Pere Mara
Dt Jo & Gr lsi 1st g 4s... 1947 J-J
St L & Cairo See Mot) So Ohio
Bt L A Iron Mount See M P
BtLMBr See T RR A of St L
Through St L 1st gu 4s ’54
G H A S A M & P 1st 6s.. 1931
Gila VGAN 1st gu g 58.1924
Hous E & W T 1st g 58.1933
1st guar 5s red
1933
H & T C 1st g 5s intgu.,1937
....
A Sit
Range
— -j
o ©
JQiQ
110
May’09
76
75%
75% Sale
81%
83*3 84% 81
108
Sep ’lu
107
108
85% 85*4 85% Nov’10
107
107% Nov’] C
Nov’10
93
89
82% Oct ’10
82
M-S
2d 4s
1948
Atl & Yart 1st g guar 48.1949
Col & Greenv 1st 6s
1916
E T Va & Ga Div g 5s.. 1930
Con 1st gold 6s........1966
E Ten reor lien g os
1938
1946
Ga Midland 1st 3s
Ga Pac Ry 1st g 6s
1922
Knox & Ohio 1st g 6s...1925
jiobdfc Birpriorneng5s 1945
104**106
104*4 105%
....
98%
98 %
91
92*%
91
97
70
86
Lv
Consol g 6s int
Week's
Range or
Last. Sale
94 % Salt?
107 % Sule
J-J
J-J
1994 J-J
A-0
Registered
Develop & gen 4s Ser A. 1956
Mob & Ohiocoll tr g 4*.. 1938
Mem Div 1st g 4%-os... 1996
St Louis div 1st g 4s....1951
Ala Cen R 1st g 6s
1918
Atl & Danv 1st g 4s
1948
> 112
112
112
Feb’10
90*3 95
96
Oct ’10
91
Nov’10 ....j 70% 79
71
2 100
102U
iOL
100% 101% 101
108*3 Sep ’10 ...108*3 112*4
108*4
101
103*5 101 Aug’10 ....',101 101
106
105
Oct ’10 ,...''l01 106
SagTus <te H lstgu g 48.1931
See Penn KR
J-J
Philippine Ry 1st 30-yr s f 48*37
Pitts Cm A st L See Penn Co
Pitts Cleve dfc Tol bee B <fe O
Pitts Ft W «fc Ch See Penn Co
Pitts McKees & Y See N Y Cen
Pitts Sli & L E 1st g 5s..,1940 A-O
J
1st consol gold 58
1943
Pitts & West See B & O
J-J
O eadiug Co gen g 4s
1997
©1949
Jan’05
112 % Nov’lo
107%
Phil B A W
Ati-Birm 30-yrlst g 4s.el933
Car Cent 1st con g 4a...1949
Fla Cen & Pen 1st g 5s. 1918
1st land gr ext g 5s ...1930
oPac RR 1st ref 4s......1955
Southern—1st con g 5s
1994
....
96
90
111%
4s..1955
Mort guar
January
11034 Jan ’09
10934 J’ly ’09
98% Sale
90*4 92
3:S
Adjustment 5s
STOCK EXCHANGE
Were endino dec 9
N. Y.
Since
Bid
(VI-N
Cl & Mar 1st gu g 4%s..1935
J-J
Cl & P gen gu g 4 %s sor A.’42
Series B
1942 A-O
x
Range
aq-Q
Price
Friday
Bee 9
BONDS
Hiah ISo Low High
94*3 99
Oct’10
Low
98
110
Ash
Hia
1931
M-a’
Week?*
Range or
Last Sale
Price
1563
Record—Concluded—Page 4
Bond
New York
1910.]
i 16
92%
10
77
98%
87%
98%
90
90
95
94
91
90*4
90%
6 89% 93
104% Sale 103%
104% 501 98 106%
99
99
100% 96
Aug’10 .... 95
98 % Sale
98%
98% L34 95% 99
99%
97
97
97% 37 95
Sale
100%
4 97
100 I
100
Sale 100
93
97%
95% 95 Nov’10
100% 102%
102%
101% 102% 102
illlfcC'ELJLANEOUS BON Das—Concluded.
manufacturing & Industrial
Gen Electric deb g 3%s..l942
F-A
J-D
F-A
J-J
M-S
AO
J-D
10-yr g deb 5s.....
1917
Int Paper Co let con g 6s. 19ItConsol conv sfg 6s
1935
Int St Pump 1st s f 5s....1929
Lackaw Steel 1st g 6s....1923
Nat Enam & Stpg 1st 6s..l92v
N Y Air Brake 1st conv 6s *28 M-N
Ry Steel Spgs 1st s f os... 1921 J-J
Repub 1 <fc b 1st & coltr 5s. 1934
Union Bag & P 1st si 6s.. 1936
Stamped
U S Leath Co sf deb g6s..1913
U S Realty «fc I conv deb g 5s ’24
U S Red & Ref 1st sfg 6s. 1931
U S Rubber 10-yr coll tr 6s.T8
U b Steel Corp—j coup .41963
Sf 10-60 yr 6s. (reg ..41963
*No
price Friday; latest bid
A-O
J-J
M-N
J-J
J-J
J-D
M-N
M-N
82
Jan’lv
145
148
147
Sale
101
104
105
105
85 %
84% 86% 84 %
92
Nov’10
91
92%
96% Deo’lC
96
Sep TO
102
102
lul% 103
96 ^ 97%
07% Nov’10
101% 104
102
Oct To
90
93
Nov’10
03
90
03
May’10
95
104% 105
104% 104 *v
96 S
95
87
sale
87% 88
102% Sale
103% sale
41
34
4
82
162%
100
106
82% 89*4
01% 96%
95% 100
04
97%
100
114%
06% 98%
104
102
91*4 96%
93
96%
101%105
85% 94%
82
130
87
86
90%
Nov’-O
102%
103% 66 101% 104%
103%
103% 428 101% 105%
103 H>< 3 101% 105%
103 %
86 %
87
aind asked this week,
manufacturing & Industrial
Va-Car Chem 1st 15-yr os 1923 J-D
Westmghouse E & Alst os ’31 J-J
miscellaneous
Adams Ex col tr g 4s
Armour &Co 1st real est
Bush Terminal 1st 4s
100
91
91% Sale
1948
M-S
1952
A-0
J-J
J-J
A-O
M-N
A-O
F-A
J-J
F-A
M-N
M-S
J-J
88%
J J
102% 103
4 %s’3y J-D
Consol 5s
1955
Chic Jo & t Yard col g 5s.1915
DetM & M ldgr incomes.. 1911
tnstitfor Irrig Was 4%s 1943
Int Meroan Marine 4%s..l922
int Navigation 1st s 15s.l920
Newp Ne Ship <& D D 5s 41990
N Y Dock 60-yr 1st g 4s..1951
Providenoe seo deb 4s....1967
Provident Loan Soo4%s.i921
S Yuba Wat Co con g 6*.. 1923
Wash Water Pow 1st 5s.. 1939
92
May g Due J’ne A Due JTy
sale
89%
100
91
91
91
91%
91%
92
89
Nov’10
95% 95% *>ct Tu
100
May’lo
95% 105
35
Aug’10
35
40
90 s Nov’10
95
64%
63
64 % 63%
81 % NovTG
80
81
95
Dec’09
98
91
Nov’10
92
90
Sep TO
95
t>
b Due Feb 4 Due Apr 4 Due
Sale
Sale
kDue Aug
112
103
J’ly’09
J’ly’04
Aug’10
13
4
92% 100%
85
93%
21
16
90
93%
94%
-T-
V
T
90%
87%
95%
100
35
96
60
8
70
-•V
....
oDue Oct p Due Nov
100
40
93
71%
83
90
94
90
101
108
90%
*»**
89
98
sOption 8*lt /
CHICAGO STOCK EXCHANGE— Stock
Record—Daily, Weekly and Yearly
STOCKS—HIGHEST
Saturday
Monday
Dec 3
*1%
*6
*91
2234
*10l2
*6
414
*20
*70
20
65
*18
*58
*64
11*4
*52
9
7634
*260
128
*
♦III
Dec 5
2%
*U2
*6
*91
23
*101*
9212
23
11
614
4U
21%
*6
*4
75
20
65
22
60
65
m4
*1U2
55
*52
9
914
7634
77l4
...
-
128
775S
1121^
260
*__.
*
_
212
921?
23 ig
11
9l4
77%
6%
9012
901?
212
11
*20
*70
*19
65
*18
*58
65
1114
11%
50
91*
76
*260
*
775*
76
23
11
6*4
414
*20
*70
75
20
65
22
60
65
50
90%
11
*6
*4
6l4
414
21%
*4
-
75
20
66
22
60
66
IU4
*5012
54
834
76l4
9
77%
10
Dec’10
4%
21
9
261
135
7.3
73%
20
66
Sept’10
9
Highest
Northwestern Kiev
Do
330 south
Lowest
Mch
J09
36
Highest
16
9%Jar>
20
Aug 8
Feb 17
77-1 Mch
16
51
Jan
14
Feb
7
15
63
Apr 1
May31
26
72
23
66
72i*»
55% J’ly
7
40
100
100
100
100
100
100
240
5
J’ly 28
J’ly 16
5
Oct
97% Dec
8
J’ne
J
ne
47
17
63
50
4
J'nej
J neik
3
Jan
6
54% Jan
104
30
Dec
Jan
Dec
59
25
73
61
54i
103
Nov
Jan
Jan
2y% Apr
Feb
97
Jan
13% Jan
29% Jan
62
J’ly
86% May
19% Dec
30
78
J’ne.;
J
Jan
Jan
3% Dec
Dec
Dec
15% Sep
5
an
Feb
4
15
101? Dec
Aug lb
,
190
U9% J'ly
45*4 Jan
Dec
3)
t
6j
Mch
1% Oct
.Jan
6
Jan
3
Jan It
61 .j
39
100
100
180
,
0I2 J an 20
7% Jan 4
2% J ne29
Side Elevated-.100
70 Streets YV Stable C 1
20
Do
pref
185
1% J’ly 28
4
J’ly 28
60% Sep .8
11% Sep 13
a
May2o
3
\iay24
100
100
pret
Oct 24
160
_
_
May
May
May
Dec
Dec
Miscellaneous
9%
730 American Can
Do
pret
10 American
Radiator..
20
Do
pref
5 Araer
Shipbuilding
50
Do
pref
77
*260
*125
*76
♦111
_
....
Nov’10
05
12
52
76%
_
-
21%
2
'iange for Previous Yeas
nunm
Lowest
_
4%
73%
77
*260
*125
*76
131
90
23%
20
20
66
*64
Sale 20
Sale 60
67
*64
12
*11
52
*50
9
76l2
'
*
4%
21*4
75
_
6
23
10
11
20
*64
Last
Last
66
*11
50
76*4
*
9012
22%
Range for Year 1910
chlcaeo City Kv
100
Chicago & Oak Park.. 100
100
Do
pret
...100
169 Jhlc Rys
part ctf **1''
1,360 Chic Rys part ctf * 2”
35 Chic Rys part ctf
"3"
Chic Rys part ctf "4'
250 Chicago
Subway
100
75 Kans
City Ry & Lt-.lOO
25
Do
pref
100
1,2 0 Yletropol YV S Kiev—100
139
Do
pref
100
July’10
*4
90
STOCKS
CHICAGO STOCK
EXCHANGE
ttalToads
Oct’10
Last Sale 6%
11*4
*260
6
4%
2U4
7312
21i4
*19
*64
*18
*58
65
9%
77
260
131
76
*4
90
22
*10
Week
Shares
Dec 9
Last Sale 170
Last Sale 1%
212
*6
23l4
Friday
Dec 8
*H2
90l8
22%
Sates
of the
Thursday
Dec 7
*u2
634
23
*10
*6
75
20
65
22
60
65
12
55
261
131
.
Wednesday
Dec 6
6l4
4l4
2H4
*20
*70
20
65
*18
*58
65
AND LOWEST SALE PRICES
Tuesday
1,404
261
135
78
♦Ill 1121* *111 1121? *111
1121? IIU4 11 *4
*1391* 1401* *1391* 1401*
112%
*13912 140l2 *139 140
Last Sale 141% Nov’10
*37
38
Amer Telep & Teleg
37
37l4 *37
38
37
371? *37
38
39
41
36
607 Booth Fisheries
36
36
3612
3612 361?
com..
3612 3612
36l2 37
37%
40
1,756
*621* 64
64
64
64
Voting Trust ctf
64
64
64
64
06
65
67
*48
50
1.669
Do
*48
50
pref
*48
50
*48
50
Last Sale 47
*1
Aug’10
Cal & Chic Canal &
*1
1!8
*1
Us
*1
D.100
1%
Last Sale 1
U«
Nov’10
*2
3
Chic Brew'g &
*2
3
*2
3
*2
3
Malt’g...
Last Sale 3
Oct’10
Do pref...
*40
4012 40%
41
4012
4012
40%
*40
40%
41
*...
4034
123
4034
116 Chic Pneumatic Tool-100
123
123
122
122
122
122
12234 122*4 *
123
67 Chicago Telephone
100
Last
Sale
*151
Feb’08
2%
Do
1531?, *151 153l2 *151 15312 *151
rights
*152
1531?
153
153
115
153
115
40 Chic Title & Trust...100
115
115
115
115
115
115
115
115
115
384 Commonw th- Edi son 100
115%
Last Sale 1%
Feb’10
Do
rights
Last Sale 17%
Nov’10
Corn Prod Ref Co com
Last
Sale
79%
8912 901 a
Apr*
10
Do
uo
9312 94l2
9U2 921?
92
92
pref
92l2 9212
94
‘94
65% 65%
1,022 Diamond Match
65% 67
66
100
66
6814
6714
65% 66
66%
66*4 1,816 Illinois Brick..
100
Last Sale 45
AUfir’lO
*6312 64
Masonic
64
*6312
Tempie
*6312 64
63
*6312 64
64
*-.
*■
97
*63%
64
105 McCrum-Howell
*
*
97
97
Co..100
97
♦
95
97
97
60
Do
pref
*
Last Sale 2%
*
21
June’07
Mllw & Chic Brewing
*
21
*
21
21
Tsist Sale 20
*110
Nov’09
111
Do pret
*109
111
110
1101? *109 1101? 109 109
110
*121
110
122
*121
71 National Biscuit..
122
121
121
100
121
*121
*
12134
122
<‘121
122
123
123
♦
21
Do
123
pref
123
100
120
120
*119
120
*119
*ii§ 119 *118 119 *118 119
120
50
National
Carbon
100
*118
119
Last Sale 123
Dec’10
10414 104*4 104l8 1041* 104
Do
pref
100
10412 104 104
104% 104%
434 People's Gas L&Coke. 100
Last Sale 11-16 Mrh’09
17714 179
178
Do
180
180
rights
180
178
17912 178 178
*1191* 120
179
*1191* 120
179% 1.149 Sears*Roebuck com.. 100
120
120
1193, 120
11934
120
120
120
101% 1013a 10U2 102
142
Do
pref
100
10U2 102
10134 10134 10134 102% 102’ 8 103
*165
170 ' 168
780 Swift & Co
168
166
166
100
166
166
*166
170
*166
170
55 The Quaker Oats Co
100
Last Sale 63.
.Tunp’lO
*102U 10312 103
Do rights..
103
103
103
*102l2 103 *102% 103 *10212 103
*6l4
*6
85
Do
634
61*
pref
6l4
...100
6I4
6*4
*6
6I4
*6
6%
6%
100 Unit Box Bd 6 P Co. 100
Last
Sale 734
24
24
*23
Apr'09
Do
*23
pref
2412
100
2412 *23
2412 *22
25
23
‘23
110 Western' Stone
.100
....
_
Feb
72
107
1
3
3
Sep 23
25% J’ly 26
110
Mavl7
142
Aug 26
108% J'ly 27
Jan
26
1%
13% J’ly 9
79% Apr 7
82% Sep 30
53
J’ly 26
43% Men 9
40 " Mcb 17
.
...
_
__
4
Jan
101
139
4v% Mch
Dec
Dec 9
Feb
Feb
4
7
4
Sep
23
Feb
Jan
1
15% Nov
86
J’ne
225*4 Oct
Jan
Jan
Feb
Aug
M*v
Oct
J’ne
51% Jan
',u
Dec
20
48
35
Dec
1
58
1
Apr
3
Mch
Jan
Mch lo
121% Jan 11
117
107
Jan 13
22*4 Jan
82
12/
91
b
117
Mch 28
•fG
93
J’ne 28
7
66
Oct 2i
102*4 Apr 20
161
Aug 3
J’ly 19
115
125
112
103
Feb 24
Feb 10
J’ly 26
145
123
148
Feb
186% Nov 12
Dec
Jan
152
Oct
Jan
121% J’ly
43
Jan
Jan
J nn
20
Nov
38
Jan
6% Deo
Apr
Apr
2% Nov
42
140
ff% Feb
70% Mch
8
Feb 28
.an
✓
2% Apr
165
J’ly
81 % Deo
112
Sep
146
Nov
10
20
127
2
132
54% Apr
))
9
9
Jan
7h Jan
71% Jan
200
126
84% Maylu
41
40
44
55
1
3
41
lo7
_
4
6
Dec
Apr
135
7
J’ne 6
Aug 22
J'ne 6
Aug 11
Feb 4
56
47
Jan
261
112
29
_
13% Jan li
82
Aug 6
131% J’ly 30
31
_
_
6% J'ne3C
62% J’ly 26
Apr 26
1_6 J’ly 19
Sep
VAla
A
117
88% May
13034 Aug
88% Deo
47
Sep
__
118
104
Jan
7
Jan 18
Oct 31
Nov 1
Jan 3
115%
82
UO
102
j&n
116% Aug
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Dec. 9
Inter¬
Price
est
Friday
Period
Bid,
Amer Straw b'd 1st 6s. 1911 F
Armour & Co 4 Hs
1939 J
Aurora Etgln&Chic 5.1941 A
Cal & So Chic Ry Co
1st M 5s
1927 P
Cass Av & F G (St L) 5s '12 J
Chic Board of Trade 4sl927 J
Chicago City Ry 5s
-
-
-
-
*
-
Week’s
Range
Dec. 9
A
D
O
J'ne22
101
J’ly 16
5% Apr 28
'
_
_
_
_
_
A
_
J
D
.
_
_
„
_
_
_
_
_
_
_
_
_
_
_
_
_
_
1927 F - A
Uu2% Sale
Chic Cousoi Hr & Mlt
6s__. J
J
Chic Consoi Trac 4
1939 J
D
^
Chic Auditorium Ist5sl929 F
A
Chic Dock Co 1st 4S..1929 A •
O
Chic Jc HR 1st M g os.1945 Yl
Chic No .'ihore Elec 6s.1912 A - OS
Chic Puc tool 1st 5s.al921
J • J t 86%
Chic Ry os
1927 F - A t_
98
Chic Rys 4-5s series *‘A" A
(j t
88%
Chic ttys 4-5s series *’B" J
D
80% Sale
Chic Rys 4-5s series “C*
F - A
Chic Rys coll 6s
1913 F - A t
99
Chic Rys Fund 6s. .1913 F A
Chic Rys Tem Ctfs 1st 5s
Chic it I & P RR 4s__2002 M N
Collat trust g 5s
1913 M- S
Chic Telephone 5s....1923 J D jl02
Commonw-Edison 5s. 1943 M - S 101 Sale
Chic Edison deb 6S.1913 J • J
1st g 58....July 1926 A - O
Deoenture 5S....1920 iH - S
Commonw Elect 5sbl943 H - S
*100% Sale
Illinois Tunnel 5s
1928 J • D
-
*
—
-
m
—
«...
_
_
_
102
101%
100
102%
103
50
_
_
_
_
*
79*4
90%
_
_
_
— _
_
—
_
^
....
•
Kan City Ry & Light
a...
--
----
--
_
Jan’06
Dec’09
Feb’06
88
ii
101% 103%
..
3
2
ii
Mch’10
10078 NovTO
100% Oct’lO
10058 Aug’09
10058
1005*
80
84%
96
87%
75
88
10138
95%
86 '
90% 91
97% 101%
97% 98
100% 10034
9834 NovTO
97% Sep’lO
100% Apr’08
66% Aue’08
661? Julv’OS
102
102
101
101%
3
19
i
iooss 103%
100% 102~8
100% ioo:8
100
100%
100
Dec’08
10234
Co 5s
1913 VI - N
95% Oct’lO
Knick’bker Ice 1st 5s 1928 A - O
Lake St El—1st 5s
9434 Oct’10
1928 J
J ....
77
Oct’10
Income 5s
1925 -Feb
16
Metr YV Side E!—
May’05
1st 4S..
1938 F - A
81% Sale
82
82
Extension g 4S....1938 J - J 178
1
79
78
Morris & Co. £14
1939 J
J t 90% Sale
9034
North YVest El 1st 4s.1911 A • L
2
90%
95% Sale
No YV G-L & Coke Co 5s 28
955s
31
9534
Q - AJ
99
Apr’10
Ogden Gas 5s
1945 VI - N *---92%
92 34
92%
1
Pearsons-Taft 5s
1916 J - D
98%
10038 Mch’09
4.40s
......
VI - s
95
4.60s Series E
96% Mch’10
M- N
96
97
Feb’10
4.80s Series F
M - N
97%
Mch’10
Peo Gas L & C 1st 6s. 1943
98%
A - O
Refunding g 5s.___1947 Ai - i 1101% Sale 12134 May’09
101%'
Chic Gas L&C 1st 5s 1937 J 13
101%
J
103
NovTO
Consum Gas 1st 5s_193C J
D
101
Dec’10
Mut’I Fuel Gas Ist5sl947
101
South Side Elev 4J4s_1924 M-N
100% Oct’lO
J - J
92% Sale
Swift & Co 1st g 5s
92%
92%
io
1914 J - J
100
Union El (Loop) 5s..1945 A
Nov110
O
88
Union Pacific conv 4s. 1911
Apr’10
VI- N
114
Nov’04
United Box Board col 6s’26
61
70
General mtge 6s
Apr’10
J - J
58% 60‘
Western Stone Co 5s.. 1909
61% Oct’lO
A
O
Not* —Accrued
85%
July’08
interest must be added to all
Chi c&go h ond
....
....
....
__
•
_
m
_
_
9434
9434'
75
_____
-
_
_
_
m
„
-
k*g Co
Port Dearborn National
Hibernian B’k’g Ass’n..
K as par state Bank
La Salle St National
Live Stock Exch’ge Nat
Monroe National..
Nat Bank of Republic..
National City
National Produce...
North Avenue State
North Side State Sav’gs
North West State..
People's Stk Yds State.
pPrairie National
Prairie State
80
76
88
9334
99 ‘
92%
96%
95%
943]
85 '
84
80
93%
96%
99 ‘
96%
97
96%
97 "
98%
981-
10034 103%
103
104%
100% 102110034 10U9134 94 "
100
100'8
88
88“
70
61%
70
65
Railway Exchange.
Security
South Chicago Savings.
South Side State
State Bank of Chicago..
Stock Yards Savings
Union Bank of Chicago.
Washington Park Nat’l
vVendeli otate
Central Trust Co of III-.
Chicago Sav Bk & Tr
Chicago Title & Trust..
Citizens Trust & Savings
Colonla* Trust & Savings
Cont A Comm Tr & Sav
t
$46,478
Drovers' 1
rust&Savings
Farwell Trust Co
hirst Trust & Savings..
Guarantee Trust & Sav.
Harris trust & Savings.
Illinois Trust & Savings
Kenwood Trust & Savga
Lake View Trust&Savgs
Merchants' coan&Tr Co
-Vletropollta nfrust&Sav
Michigan Ave T: Co...
Northern Trust Co
North-Western TrdsSav
Pullman Trust & Savgs.
Sheridan Tr & Sav Bank
Standard Tr & Sav
Stockmen’s 1 rust & Sav
Union Trust Co
»We8t'n Trust A Savings
West Side Tr&SavBank
Woodlawn TrA^avBsn
981,665
162,240
258,839
525,597
66,795
1,255,625
405,878
81.807
70,952
29,191
22,228
109,876
200.000
200. OOU
1,500,000
250,000
2U0,OOu
100.00J
60,000
2,000,000
MoOO.OOu
6,OOU,OOu
50,OIL
600.000
3,000,000
'200,OOu
1,500,00c
2,500,00.
200,000
l,250,00o
5,000,00.
200,00.
200,OOv.
2,000, OOu
750,00.
200,000
1,600,OOu
200,000
500,000
200,000
1,000,000
200,000
1,200,000
1,250,000
200,000
Jan
162
Dec
98% Jan
105
Deo
16
Feb
Companies
In
Per-,
iod
1909
6
vi
10
An
10
—
—
-r
.
t
12
6
8
Q-J Oct TO.
Q-J 8ep30 10.
Q-J Oct TO,
6H Q-J Jan 'll,
6
3
2%
6
6
Q-J
Q-J
t+J
86,405
8
6
33,452
2
None
194,357
1H
0
89,000
6
10,439 Beg. b us Sep
1,782,614
11
12
200,198
7
8
0
37,006
6
7,877 See V.' 9j. p
10,044
6
None
938,613
7
7
112,944
6
1H
6
11,543,802
6
8,622
4
4
459,366 8+2
8+2
_
_
_
_
.
*
1,161,140
148,374
%
'09.6
luiy TO, 5
Oct TO, 2%
Jan 'll, 4
Oct TO, 1%
Oct
TO, 2%
Oct
10, 1%
Sep 30* 10.3u
Dec
8
3
(V)
173,728
3.165,060
19,621
1,471,163
8,609,829
59,499
41,792
6,012,401
226,783
yb 0,000
2,382,905
69,040
233,906
21,530
260,075
39.003
Last Paid
12
Q-J
9
4-J
10
9H
Q-J
6
6
Q-J
12
12s
Q-M
10
10
Q-M- Sep 30'10,2l|
Pnv Ate r» Qk
8
8
Q-J Oct TO, 2
8
8
Q-J Jan 'll. 4
10
10
J-J July 10, 5
deg. 0 £. M
y'l., V.9J. p.1277
10 + 2
10
Q-W Sep 30T02%
4
4
Q-h Nov TO. 1
417^082
444,155
123,963
1% Mch
U% Jan
25 " Mch
Dividend Record
1,600,000
200,000
1,000.000
1,250,000
300,OOu
2,000,000
1,500,000
250,000
200,000
50,000
200,000
300,000
250,000
250,000
300,000
Mch
169% Dec
121*4 Oct
114% Aug
63 Feb
In
1908
193,486
552,446
lisooiooo
600^000
6
3
and
000,000
1
1
can
Jan
119
Nov 18
500. OOu
245,216
Contl’tal & Comm Nat 20.000.000
9,764,964
Corn Exchange Natlona
3,000,000 5.497,543
Drexel State!..
200;000
30,767
Drovers’ Dep National.
600,000
402,510
Englewood State
200,000
40,916
hirst National........
10,000,000 10,903.894
First Nat Englewood
150,000
Foreman Bros B
98
80%
26
...
Apr’09
96*4
Jan
J&n
Profits
$100,000
Chicago City
106
~
100% Jan
Surplus
ing
t
9934
94%
J’ne’09
Oct’09
May’07
102%
Apr’04
"
Calumet National
May^6
and Trust
Stock
High
9934
9034
8734 Nov’10
—.
-
«...
Low
9
J’neSO
Outstand-
NAME
for
Year 1910
High No.
94%
87
8S
98
_
_____
—
— -
Range
.
-
....
B’ds
Sold
99*4 Mch’10
9178 NovTO
_
15
Chicago Banks
Last Sals
Ask Low
_
or
186
109%
6
......
Chicago Bond Record
Sep 16
J’ly 27
Mch 8
Jan 8
Feb 19
11978 Aug
% Fnh
65
101
1
_
Oct
Oc.
Oct
Q-M oct
,
2
1%
1%
1*4
TO, 1%
TO, 1
To. 2
TO. 1%
Jan
*08, 2
Oct TO. 1%
Q-J Oct TO, 2
t '09 V. 89. p. 817
Q-J Oct TO, 3
_
_
__
Q-J
Q-M 3ep30’10,2
M-N
159
Nov
TO, 3
Q-M Dec31'08,l%
Q-J Oct TO, 2
Q-J Oct TO, 1%
Q-J Oct. TO. 2
A-O Oct9. TO, 3
Q-J Jan '11, 2%
1
_
«
8
3
_
1
101
155
122
1081- Dec
124
Nov
Jan
.tan
...
7
8
2i J’ne
119% Sep
130
Sep
97% Jan
118% Feb
Incorp
6
16+4
6
4H
12
6
Beg. b
8
6
8
Beg
b
Comm
5
8
6
Q-J Oct
10 2
Q-J Oct. TO, 1%
1;
Q-M Sep39'10, 4
orated 1908 v.87.p.1138
9 h Q-J Oct
TO. 3
16+4
Nov 19T0, 1
<7
OH Q J Oct TO, 1*4
5
Q-J Oct
TO, 1%
12
Q-J Oct TO, 3
h
Q-J Sep 30 10.1%
js.Oct 29 T JV91,p.1221
8
Q-J Oct TO. 2
6
J-J
J uly TO, 3
8
Q-J Oct TO, 2
us. J'»v 12 0 9 V
89,p 141
enced bus. Sept 6 1910
5
J-J
<uly TO, 3
fc8 + 2 Q-M Sep30*10,2
6
Q-J Oct TO, 1%
119,050
Sep 30T0.2
prices
200.000
56,122
6
6
O • Oct
TO. 2
10
f
Nov.
(close
of
[No
prloe Friday; latest price this week, a Due Dec.
tor national banks and Nov. 11
business)
(opening
of
nth extra payments
31.
b Due June,
business)
for State Institutions.
k
Also
Q-F. s In addition the
20% In stock, n Capital and surplus to be Increased,
equivalent of 4% more came from
rom First Trust &
q Dividends are paid Q-J.
First Trust & Savings Bank,
Savings Bank.
t; Prairie Nat. Bank
t July 311910.
u In addition the
and Western Trust &
T. 01, p, 72. 17,
equivalent of 1% came
y Sept. 2 1910.
Sav. Bank merged and capital of latter Increased from
$1,000,000; V. 91. p. 314.
to See
w
,
....
_
_
_
_
_
Dec. 10
TRANSACTION! AT THE NEW YORK STOCK EXCHANGE
DAILY, WEEKLY AND YEARLY.
Railroad,
&C.,
Stocks.
Week ending
9 1910.
_.
.
....
Total
Bonds.
$24,926,200
30,787,000,
62,923.950
$966,000
1.159,000
1,913,000
2,024,500
1,985,0 >9
2,333,000
$84,000
163,000
36,000
41,500
79,000
86,000
3,490,365:$309,766,750 $10,380,500
S483,500
280,117
347,545
703,517
783,495
745.220
630,J90
Saturday .
Monday
Tuesday—
Wednesday
Thursday.
Friday
...
54.155,000
3,490.365
4,340,448
$309,766,750 $393,823,150
$5,600
$71,000
$500
489,500
10,380,500
*17,000
639,500
25,971,000
$10,870,500;
$26.627,500l
Bonds.
Government bonds
State bonds
RR. and mlsc. bonds.
.
9.
75*2
70!2
40
63
63l2
160,570,951
$14,331,169,5. 5
$1,082,200
203,652,836
$18,633,876,500
$249,950
$359,700
40.382,050
553,158.700
$778,700
36,067,400
1,208,737,600
41
82
120
117
105
65
40
110
110
60
& Teleg pref 100
Southern & Atlantic
25
1909.
EXCHANGES.
78
85
Pac Telep
e
Ferry Companies
B & N Y 1st 6s 1911
J-J
N Y & E R Ferry stk.._100
1st 5s 1922
M-N
N Y & Hob 53 May '46.J-D
Hob Fy 1st 5s 1946..M-N
J-J
N Y & N J 5s 1946
100
10th & 23d Sts Ferry
1st mtge 5s 1919
J-D
e Union Ferry stock
100
e 1st 5s 1920
.M-N
10(
Crucible Steel
10C
e Preferred
Davls-Daly Copper Co... 10
e Diamond Match Co
100
duPont (E I) de Nem Po 100
e Preferred
100
6 Gold 4 Ha 1936
J-D
Electric Boat
100
100
Preferred
118
96
90
100
90
97*
20
55
28
65
99
97
105
96
30
65
26
96
763
77
Empire Steel
100
Preferred
e General Chemical
e Preferred
Gold Hill Copper
Greene-Cananea
100
100
100
40
75
28
100
15,
*I3g
92
149
91
146
83
85
85
.
12
53
15
62
100
51 £
10
55
94
101
103lj
9lt
71!#
*7ie
2Ql
Guggenheim Explor’n.. 10Cf
e Hackensack Wat er CoRef g 4s '52 op 1912 __J-J
Hall Signal Co com
10C
Havana Tobacco Co.... IOC
100
Preferred
1st g 5s June 1 1922 .J-D
Hecker-Jones-Jewell Milling
1st 6s 1922...
M-£
Herring-Hall-Mar new. .100;
Hoboken Land & Imp.. 100
1st 5s Nov 1930
Houston OH...
100
Preferred
100
,.10d
Hudson Realty
50
90
121*
12L
e
73
80
78
Comm’i Un Tel (N Y)...25
Empire & Bay State Tel. 100
100
Franklin
100
e Gold & Stock Teleg
e Northwestern Teleg..-.50
Paclftc & Atlantic.
25
$500
1910.
TRANSACTIONS AT THE BOSTON
Telegraph and Telephone
e Amer Teleg & Cable—106
e Central <fe So Amer
100
$500
Jan. 1 to Dec.
9.
1909.
1910.
Stocks—No. shares
Par value
Bank shares, par
DAILY
66.230,000'
Week ending Dec.
Sales at
New York Stock
Exchange.
Total bonds
70,414,600
Preferred
100
United Electric of N J—100
1st g 4s 1949
__J-D
Western Power com
100
Preferred
—100
u. s.
Bonds.
State
Bonds.
Par value.
Shares.
Industrial and Miscel
list
Chicago Edison Co—See Cb cago
87U 89
Gr’t West Pow 5s 1946. .J-J
124
122
e King3 Co El L & P Co. 100
90
Narragan (Prov) El Co—50 *89
50
40
N Y & Q El L & Pow Co. 100
*7
189
191
85
20
4
8
55
86
103
35
105
40
35
6
12
59
8
49l2
48l:>
no
93
Ingersoll-Rand coni... 100
97
e Preferred100
$1,245,583,700
$596,900,450
29K
Intercontinental Rubber 10U
90
Intemat’l Banking Co. .100
AND PHILADELPHIA
International Nickel
100 155
Short-Term Notes
90
Preferred
100
98lg 9812
Am Cig ser A 4s 1911.-M-S
£212
1st g 5s 1932
100
A-C
9978
Ser B 4s Mch 15 *12..M-S
Philadelphia.
3
99F
International
Salt
100
9914
Balt & Ohio 4Hs 1913.J-D
47
1st g 5s 1951
97I4
..A-C
9612
Bond
Bethleh
Steel
6s
1914..M-N
Unlisted
50
Listed
10C
9814 G85» International Silver
sales.
Chic & Alton 5s 1913..M-S
shares.
shares.
Preferred
100 107
9714 9734
Cin Ham & D 4s 1913...J-J
no
1st 6s 1948
J-D
$26,100 C.CC &StL5s, June 1911.. 100l8 10012
6,350
180
5,909
Internat Smelt & Refg.. 100
33,400 Hudson Companies—
180
6,614
10,443
Internat Time Record..100
9934
9S14
6s
1911.
A-0
Oct
15
70,700
15,162
12,997
Preferred
.100 no
98i4 9£34
6s Feb 1 1913
F-A
44,000
17,646
11,791
1001? 10J34 Jone3 & Laughlin Steel Cc 100
T
6s
Interb
R
g
1911..M-N
77,100
25,967
13,629
1st s f g 5s 1939
M-N
9834 9914
M-S
86,500 K C Ry & Lt 6s '12
35
15,040
9,102
e Lackawanna Steel.... 10Q
99^ 100
Minn & St L g 5s 1911..F-A
So
e 1st con 5s 1950
M-S‘
5-1. GO 4.40
Lines
5s
’ll-’22
s
N
Y
C
Eq
63,87l| 86,779 $337,800
M-&
e Deb 53 1915...
54.60 4.40
4 Ha Jan 1911-1925
s8i4
101
Lanston Monotype
100
100
N Y N H & H 5s *11-’12_.
100 243
9712 98>4 Lawyers’ Mtge Co.
St L & S F 4Hs '12 op.F-A
230
961
Leh & Wilkes-B Coal
50
98
-M
5s Mch 1 1913.
100 135
98*4 98&s 5 Lorillard (P) pref
South Ry g 53 1913
F-A
35
.
Week ending
Dec.
9 1910.
22,358
18,081
74,90ll $302,000 ^
114,222
Total
$12,500
44,000
53.500
94,000
34.500
63.500
7,789
10,404
16,347
15,114
14,222
11,025
9,323
12,412
25,467
26,581
Saturday
Monday
Tuesday
Wednesday...
Thursday
Friday
Bond
sales.
Unlisted
shares.
Listed
shares.
30
100
165
92*2
94
6
52
SO
113
112
140
205
115
Outside Securities
“and Interest” except where
bond prices are now
All
marked ‘t.’
AlUC «
}
f
(jUUi
_ .
_
1913
M-N
West Telep & T 53 '12.F-A
vVestingh’se El & M 6s 1913
5% notes Oct 1917..A-O
Waba3h 4 Ha
Street Railways
21
G5
Pub Serv Corp N J (Con)—
New’k Pas Ry 5s '30. .J-J
140
100
list
Rapid Tran St Ry.... 100
1st os 1921
A-O
15
58
120
98
Exc
102
100
53—See Stock
Christoph’l & 10th St stk
Col & 9th Ave
list
Exc
Dry Dock E B & B—
ist gold 5s 1932
J-D 95
30
Scrip 53 1914.
-F-A
200
Eighth Avenue stock—100
95
F-A
Scrip Gs 1914
42d & Gr St F’y stock.. 100 203
42d St M & St N Ave.-.100
1st mtge 6s 1910
M-S
•jJ
2d income 6s 1915
J-J
Inter-Met—See Stock Excir, mge
Exc
Lex Av & Pav F 5s—See Stk
Exc
Metropol St Ry—See Stk
100
40
100
100
ii‘J
list
list
list
180
16
155
Gas Securities
10012
65
59
130
85
92
list
80
85
20
215
102
75
New York
Cent Un Gas 5s 1927
J-J
Con Gas (N Y)—See Stock
e Mutual Gas
100
New Amsterdam Gas—
1st con3ol os 1948
J-J
NY&ER Gas 1st 5s '44 J-J
Consol 5s 1945.
J-J
N Y & Richmond Gas. .100
M-N
Nor Un 1st 5s 1927
[0 Standard Gas com
Brooklyn.
Atlan Avenue RR—
Con 5s g 1931
,_A-0 10U2
97
B B & W E 5s 1933
A-O
Brooklyn City Stock
10 165
ange
Con 5s—See Stock Exch
98
Bklyn Hgts 1st 5s 1941 A-O
Bklyn Queens Co & Sub—
100
e 1st g 5s '41 op 1916 .J-J
97l2
e 1st con 5s '41 op '16 M-N
Exc
Bklyn Rap Tran—See Stock
Coney Isl & Bklyn
100 60
1
e
P eferre ’
1st 5s 1930
100
100
..M-N
103
Other Cities.
102
170
list
102
50
50
Am Gas & Elec com
Preferred
Amer Light
Preferred
A Tract
100
100
50
Bay State Gas..
Blngh’ton (N Y) Gas Wks
list
1st g 5s 1938
A-O
75
Brooklyn Un Gas—See Stk
83
Buffalo City Gas stock.. 100
78
1st cons g 4s 1948
J-J
80
1st 5s 1947—See Stock
75
Con g 43 1955
J-J
100
100
95
Cities Service Co
Brk C & N 53 1939...J-J
list
100
Preferred
Exc
Kings Co El 4s—See Stock
Con Gas of N J 5s 1936 J-J
Nassau Elec pref
-.100
Consumers’ L H & Pow—
A-O 103 105
53 1944
list
5s
1938
J-D
1st 4s 1951—See Stock Exc
92
Denver Gas A Elec
100
87
N W’b’g & Flat 1st ex 4 Ha
106
Gen g 5s 1949 op
104
M-N
Steinway 1st 63 1922...J-J
Elizabeth Gas Lt Co.
100
Essex & Hudson Gas
100
Other Cities
Gas & El Bergen Co
100
Buffalo Street Ry—
F-A 105 10612 0 Gr Rap 1st 53 1915 ...F-A
1st consol 5a 1931
Hudson Co Gas
100
Deb 6s 1917
A-O 1041" 105
S6I4 Indiana Lighting Co
100
Columbus (O) St Ry
100
101
9912
v
.
Preferred
100 101 104
Colum Ry con 5s—See Phi la list
102
Crosst'n 1st 5s 1933..J-D
<5
74
e Conn Ry & Ltg com
100
81
79
100
e Preferred
list
Exc
1st & ref 4 Ha—See Stock
85
82
Grand Rapids Ry pref.. 100
IO5I4
e Loulsv St 5s 1930
J-J 105
106
Lynn <fc Bos 1st 5s 1924.J-D 104
25
25>4
New Orl Rys & Lgt
100
6534 67
e Preferred
100
list
tk
Ex
Gen M g 4 3^s 1935—See S
Pub Serv Corp of N J
100 114 116
991o 100
Tr ctfs 2% to 6% perpet
60
North Jersey St Ry..l00
1st 4s 1948
M-N
7312 76
72i2 73l2
Cons Tract of N J....100
1st 5s 1933
J-D IO3I4 10414
e
-
Per share,
b Basis,
116
101
list
-
e Sells on
-
-
..100
50
1
Railroad Securities Co—
95
90
IU C stk tr ctfs ser A—52
Seaboard Company—
SO
75
1st preferred
.100
list
Com & 2d pref—See Bal t Exe
Seaboard Air Line—
99 'g lOOis
Coll 5s ext May 1911.M-S
90fo 91
West Pac 1st 5s 1933.-M-S
0
Preferred
N Y Mtge & Security-..
N Y Transportation
e
Preferred
....
--
....
-
-
.
....
11
l°ie
11;
u2
214
48
96
50
98
23
41
*4014
50
Exc
58
Stock
100
100
pref. .100
..100
Realty Assoc (Bklyn) —100
Royal Bak Powd com—100
102l2
144
180‘
105
132
..100
10
16
*
100
100
.
190
108
100 340*
5
25
—
iist
60
78
104
148
120
134
75
350
8
Lt—100
Seneca Mining......
Singer Mfg Co
South Iron & S com.
Preferred
Standard Cordage
ICO
♦
Preferred
Safety Car Heat &
5
90
*1034
*1034
Pratt & Whitney
Producers Oil
Preferred
*4
50 *227s
Preferred
.....
-
100
20
Pittsburgh Brewing
Pittsburgh Coal—See
Pope Mfg Co com..
205
200
100
..100
Otis Elevator com
35
80
6512
100
NUes-Bem-Pond com—100
Niplsslng Mines.
5
Ohio Copper Co
10
e Ontario Silver
100
Industrial and Miscel
Adams Exp g 4s 194/..J-D / 8J4 9(Jl4
iyo
Ahmeek Mining
.25 *180
Alliance Realty
100 115* 120
156
American Book
100 153
100 120 125
American Brass
103
102
American Chicle com
100 218 224
103
list
Exc
Preferred
100 100
5
167
17312 Am Graphophone com.-lOO
20
Preferred
100
Amer Hardware
100 122
10U2 102
105
103
Am Malting 6s 1914
J-D 100 102
100
95
100
97
Amer Press Assoc’n
100
50
Am St Found new—See S tk Ex list
35
101
6s
99
1935
..A-0 100i2 102
70
69
Deb 4s 1923...
F-A
55
85
American Surety.
50 227
*4io
5I4
104
American Thread pref....5
Am Tobacco Co com.
100 420 425
42
40
Amer Typef’ders com—100
100
98
Preferred
100
*50U 5H2
100
97
42
*41
Deb g 6s 1939.
M-N
2U
3*2
290
287
Amer Writing Paper.... 100
29l4 30
104
103
Preferred
100
89
88I4
1st s f g 5s '19red 105.J-J
9ie ulfl
10
Atl Gif & W I S3 Lines.. 100
20I2
100
Preferred
95
100
66
671!
list
Exc
Col tr g 5s 1959
J-J
30
15
6
5
Barney & Smith Car..-.100
98
90
list
Exc
Preferred
100
list
tk
Ex
61
58
Bethl’m Steel Corp—See S
--
"fu
55
5712
1C4
10512
*71'
75g
2012
50 *20
Mortgage Bond Co
100 11312 11£12
Nat Bank of Cuba
100
265
National Surety (old stk)100 262
195
New stock
100, M91
Stk E x list
0 NevadaCons’dCopper. See
1
*7«
Nev-Utah Min & Sm
10i
60
30
e New Central Coal
20,
list
Exe
N Y Air Brake 6s—See StoolN Y Biscuit 6s 1911
M-S 100
100
1st M g 5s '31 red
A-0 /
Adjust M 5s Apr 1 1931. . /
Standard Coupler com.-lOt
Preferred
Standard Mining Co....100
Preferred
100
1st 5s 1930
M-N
Standard OH of N J
100
Swift & Co—See Boston Stk
See Chicago Stk
1st 5s.
Texas Company—See Stock
e Texas & Pacific Coal. .100
100
Title Ins Co of N Y
Tonopah Min (Nevada)... 1
Trenton Potteries com. .100
Te ‘
20
3
4
40
100
16
50
S3
808
Exc
Exc
Exc
95
135
79
94
Bliss
Company com
50
124
118
250
120
105
130
122
_
-
-
4
45
8‘
55
<fi»5
101
52
108
107
52
52
61
103
5
20'
113
100
111
105
100
"
-
....
....
.
Stock Exchange, but not very
18
54
87
815
list
list
list
100
140
....
....
-
"
♦77g
Preferred new
100
Trow Directory
100 30
60
Underwood
Typewriter.
100
257l2
Bond & Mtge Guar
100
123
Preferred
100 100
Borden’s Cond Milk
100
105
50
107
Union Typewriter com. .100
Preferred
100
205
180
'
1st preferred
t»l2
100 104
*63*
90
93
British Col Copper
5
103
19
2d preferred
100
Butte Coalition Mining. 15 *18
300
3U
United Bk Note Corp— 50 *49
234
136
Casein Co of Am com...100
134
50 *50
58
Preferred
50
80
Preferred
100
78
59
United Cigar Mfrs
100 100
101
98
Casualty Co of Amer
100 125 140
e Preferred
100
136
Celluloid Co
100 132
134
41 *>
6
United Copper
100
33
Cent Fireworks com
35
100
10"
40
Preferred
_.100
65
.100
64
Preferred
4s 1958 op
215
F-A
U S Casualty
100
20
11
Central Foundry
100
50
50
Indianapolis Gas...
100
U S Envelope com
85
Preferred
100
80
1st g 5s 1952
A-0
Preferred
100 110
38
/
33
Deb
63
T9
red
at
105.
M-N
9212
95
Jackson Gas 5s g 1937..A-0 / 88
U S Finishing
100
104
Chesebrough Mfg Co
100 700
e Laclede Gas
100 103
100 106
Preferred
102
Chino Copper Co..
80
5 *2134 21'8
100
e Preferred100
1st g 5s 1919
62
58
J-J
108
103
10C
City Investing Co
Madison Gas 6s 1926...A-0
105
Con g 5s 1929
..J-J 95
Preferred
10( 101
Newark Gas 6s 1944
Q-J 126
U S Steel Corporation—
98
e Claflln (H B) com
96
10( 102 106
114
Newark Consol Gas
100
96
Col tr s f 5s 1951 opt *11 .
93
e 1st preferred
100
114
e Con g 5s 1948
J-D 103 104
Col tr 8 f 5s '51 not opt.
94
e 2d preferred
100
No Hudson L H <fc Pow—
S
Tit
100
U
Gu
&
Indem
Col A Hock Coal & I pf.100
Exc
5s 1938
.A-0 102
e Utah Copper Co—See Stk
45
1st g 5s 1917
67
J-J
67l2
Pacific Gas & E, com
100
Westchester & Bronx Title
45
Col
tr
6s
Oct
1956
J-J
89
88
Preferred
100
& Mtge Guar
100 160
401? 4212
Consol Car Heating
100
86
80
Pat A Pas Gas A Elec. 100
4
3
Westingh’se Air Brake. - 50 *139
Consol
Rubber
Tire..--100
10212
10012
0 Con g 5s 1949
M-S
West El A Mfg 5s—See Stk Exc
22
Preferred
10(
90
9312
St Joseph Gas 5s 1937.. J-J
41
Worthlngt'n Pump pref. 100 104
/
40
Debenture 4s 1951..A-O
77
90
...
'
*
—
10212
Syracuse R T 53 1946 ..M-S 100
97
Trent P & H 03 1943...J-D
United Rys of St L—
0l8
834
Com vot tr ctfs
100
3S12 3834
e Preferred
100
list
Gen 4s 1934—See Stock Exc
iist
Unit Rys San Fran—See Stk Exc
33
32
Wash Ry & El Co
100
86
86’-2
100
Preferred
83
80I4
4s 1951
J-C
300
Ninth Avenue stock
100
10
Second Avenue stock—100
93
1st M 53 '09 ext TO.-M-N
56
F-A
Con30l 5s 1948
115
e Sixth Avenue stock—100
60
Sou Boulev 5s 1945
J-J
88
So Fer 1st 5a 1919
A-0
Third Avenue RR—See Stk Exc
Tarry W P & M 5s 1928.. / 50
75
Y'kers St RR 5s 1946 A-O
28th <fc 29th Sts 5s '96..A-O /«10
190
Twenty-third St stock. .100
Union Ry 1st 5s 1942...F-A
Westchester 1st 5s '43 J-J
_
9Ua
90
248
275
145
45
Preferred
Chic Peor <5r St L—
Prior lien g 4 Ha '30.M-S / 85
50
Con mtge g 5s 1930—J-J /
5
/....
Income 5s, July 1930
4I4
3's
Chicago Subway
100
109
107
Kan & Col Pac 63 1938.F-A
list
t
Exf
Nat Rys of Mexico—See £
112L100
Northern Securities Stubs..
35
Pitts Bes3 &LE
50 *32
76
Preferred
50 *70
74
131
98
45
*1
100
Monongahela R Coal
Railroad
—
J C Hob & Paterson—
73
4s g 1941
M-N
128
So J Gas El & Trac.. 100
97
Gu g 53 1953
M-S
103
No Hud Co Ry 63 1914 J-J
5s 1928
J-J 104
95
Ext 5s 1924
M-N
113
Pat Ry con 6s 1931..J-D
99
2d 6s opt 1914
A-0
So Side El (Chic)—See Ch lcago
105
90
85
21
85
Cent’l Crosstown stock.. 100
1st mtge 63 1922
M-N / 80
15
Cen Pk N & E Riv stock. 100
75
107
245
106
235
102
IOH4
85
M-N
20
Manhattan Transit
May Dept Stores
Preferred
IOOI4
100
100
Madison Sq Garden
2d 6s 1919.
07
100
9934
.
Street Railways
Nero York City
Bleeck St & Ful Fy stk. 100
ist mtge 4s 1950
J-J
B’y & 7th Ave Stk
100
2d mtge 5s 1914
J-J
Con 5s 191 i—See Stock
B’way Surface 1st 03 gu 1924
Bid
Ask
Bid
Ask
^
e
...
Boston.
s\
A
Bid
Ask
Bid
Electric Companies
Stock Exchanges
Volume of Business at
Dec.
1565
THE CHRONICLE
1910.]
....
active. / Flat price,
n
Nominal,
s Sale
114*4
114*4
92la
list
166
140
list
108
price, t New stock, x Ex-dlv. v Ex-rlghti
BOSTON STOCK EXCHANGE-Stock Record,
Daily, Weekly and Yearly
SHARE PRICES--NOT PER CENTUM PRICES
Saturday
Monday
Dec. 3
99%
*101
221
Dec. 5
995f
*101
221
12734 1273^
102
221
*
*101
*15
*70
*
39
99*4
99ift
102
*
♦
*
299
15
*70
*15712 160
*113
*113
115
10
39
114
270
130
*
*129
*115
*S7
210
18
84
13012 *129
130l2
118
88
210
210
210
*18
1812
15U2 151%
141
*185
*35
*--.
186
37
*
108
*
102
102
1677« 1691s 169%
*9114 92
*9Hs
*157
*157
160
89
8912 891'
*102% 105 *1025ft
421-2
423,i
47g
*14
185
•38
108
102
15
185
*35
43
162
*12
43
14
997ft
434
14
121s
100's IOII4
31
31
*27
28
19234 193
54U
55
*29
291?
72% 73%
*115% 115*3
*16% 1712
90
7
39%
*210%
17
*17*2
83l4
S3*2
S3
54
145
6
160
114
Oct’lC
130
117
87
----
17
.
.
„
-
-
-
„
18
84%
-
-
201-
205ft
8
152
89
8834
93%
224
5
110
110
138*2
_
28
1931ft
55*4
2914
74
93
*223
*5
*110
114
113
1397ft
90*2
30
91
10
2012
20*2
*6
89l4
933ft
*2S34
29*«
741«
71
115*4
116
17190
.
„
6*2
281
280
8
280
15034 15U2
88
223
*4
110
341-
34
23
28
28,
196
197
5334 54
*2S34 29*8
70*s 723ft
115*4 1157ft
29lft
717ft
*115*4 11534
17190
*16
*86
17190
10234
34128
197
55
196
55
29%
72%
116%
73
*16
*86
J’ly j
Apr .J'
Dec t
Mayl
181% Sep 14
20
Alny
103
Aug IS
100
1,799 Araer Agrlcul Chem..l00
Do
540
pref
__100
505 Amer Pneu Servfce
5o
Do
516
pref
50
362 Amer Sugar Refln___.l00
441
Do
pref
100
5,224 Amer Telep & Tel eg
100
06
Miscellaneous
American Woolen____too
.
13% Dec
Oct
3
ill
111% Oct 3
127*4 J’ly 26
26
J’ly 7
10*2 Dec 7
l
16
Mch 16
Mayle
Electric..
J’ly. 6
VlassachusettsGasCos
100
100
100
35,127
137
40
9
Do
pref..
U S Steel Corp
Do
pref
West Telep &
Do
pref
Corp_. 25
25
...100
100
.
Teleg..l0G
100
204%Jan
103% Jan
168
135
Apr i4
ja
Vo
76% Feb
89
May
214% Jan
234 Jan
&
16
4
95*2 Mch
153
J’nesu
11% Jaa 16
100
Jan 24
28
Mch3u
27 Jan is
165*- Jail 15
40% J’ly
25% J’ly 9
v>i3ft J’ly 26
.
ill
14
81
J’ly
26
Feb 11
Aug 15
24
Feb U
127% Mch
124
v
Mch
1437ft Nov 4
104% Mch
lli-Jan
28
Jan
9l% Nov 16
V26
Alcn 18
Nov-14
6-% May 10
124
115
Jan 3
Jan 11
138*2 Mch 11
1U0
200
Jan
6
Feb li
14
Oct 3
109% Jan 10
34*2 Dec 8
31
220
May
Sep i0
71% Apr 18
31
Jau
4
9034 Jan
3
125% Jan
1,
1j34 Sep 30
94
Jau
3
„
.
^
*114
*
1312
46
2*4
9
117
1*4
25ft
25«
1234
46*2
131?
461?
234
*2
9
115
*1*8
9
L18
1*4
DU ana asked prices.
22% Nov
Apr
136
131
Apr
145% Sep
40% Aug
Jan
Apr
12*2 Sep
Aug
8% Oct
147*? Nov
137ft J’ne
260
Apr
,173
Aug
83 4 Dec
97
Apr
220*4 Dec
3*4 Oct
oil-
Apr
Jan
Jan
Jan
Jan
Jan
Apr
J an
126% Jan
75
Feb
168
Jan
68
93
125
118
139
108
199
Oct
Oct
Sep
Oct
Aug
Sep
114*2 A'lg
9-% Jan
12
Jau
20*2 May
24*4 Jan
34
35
126% Jan
Mch
170
71
28*2 Jan
4134 Feb
Feb
107
6% Jan
76
Mch
131
1J
96
z54
J’ne
108
2021- Men
2
Jan
100
J'ly
97« Feb
Dec
NOV
Deo
Oct
31% Sep
947ft Oct
47ft Oct
Oct
Deo
Deo
10*2 May
__
....
__
59
89
..
.
13
46
♦2
9
117
50% Aug
105
Apr
1503ft Feb
Jne
40
Feb
16J% Jan
Oct
N ov
117*2 Aug
107
Aug
21834 Aug
117% Aug
175
Apr
98% Apr
112
Apr
NOV
Nov
rll7
125% Feb
27*2
93%
4%
15*4
334
J’ly
174% J’ne
Aug
Sep
200% Jan
Jan
13
rl 14
292*- Nov 16
07
Alch
Feb
Deo
149
Jan
125
7
245
u
J’ne
5% Jan
0
8% Jan 11
*521-Alch 3
11% Jan 3
162
123
2 75
136
103
33% Jan
23
7
61*617
7
252 \dventureTon
*6%
4
J’ly 13
25
10
Feb 1
9
*S*9
834
9
*3*9
9
655 Algomah Mining
834
___25
8% Dec 2
1434 Sep 16
39
38
371?
38
38 “ 38*3912 3912
38%
885 Anouez
31
38%
25
J’ly
13
53 ~ Feb
6418
6334 6434
615ft 65
613ft 631Cll2 63%
633ft
64% 54,732 Amalgamated Copper 100
65% J’ly 12
90% Jan 3
26
26
26
2612
26% 2634
247ft 25126
2512 255ft
26
1,615 Am Zinc Lead & Sm.. 25
19%
J’ly
26
401Jan 3
13
1334 1334
1334 143?
121- 14
141ft
vrizona Commercial- 25
15
1334 14%
14%
5,241
12%
May
4
50% Jan 3
6
*6
6
6
6
6
6
6*2
6
6
7
*57ft
365 Atlantic
5
J
no
3o
25
12% Jan 14
*.50
.55 *.50
.55 *.50
.75 .50
,50 *.50
.55
*.50
.55
450 Bonanza Dev Co.... 10
h0 Mch 9
.70 Mch 2 s
13
13
13
13
13*4 13% 13*4
13
13
13*13%
10
1334 1,021 Bos&CorbCop&SHMg
May 4
5
24% Jan 13
534
57g
7
6ift
7
71?
67ft
7
71?
73ft
7*2
7% 4,710 Butte-Balaklava Cop. 10
4% Nov 5
18% Mayz6
18
18
18
1712 1712
18
18
18
18
I8I4
18
18
955 Butte Coalition
15
15-8
J
’neju
28% Jan 3
51
52
50
46
5U2 5H2
49
47
515«
49
Z477ft
1,891 Calumet & Arizona.. 10
477ft
J’ly
4434
12
103
Jan 3
545
*545
560
545
535
543
530
535
530
530
530
535
60 Calumet & Heel a
509
J ’ly 0 685
25
Jan 3
15
15
15% 1514
16
1512 1534
151ft 16
16
16
16
330 Centennial
25
13%
J’iy
38
15
Jan 3
*.05
.08 *.05
.08 *.05
.08 *.05
.03
Last Sale .05
Cons Mercur Gold....
Nov’10
04
J ’iy 6
.16
1
Jan
lo
67
65
6612 67
68
65
6712
65
66
66
67
Feb 17
6634
68
1,363 Copper Range Con Co 100
85
Jan 3
4
*31 *»
4
4
*312
4
*312
*312
Da
*3*2
4
3%
ty- West
20
3%
20
3% Sep 28
9 5pMch28
11
11
11
12
1134
11% 121ft
111?
11*2 12
12*- 8,525 East Butte Cop Min.. 10
12%
6% J’ly 13
14
Nov 14
.14
.15
.10
.12
Elm River
Oct
1,400
.05
11
12
2% Feb ft
10
IO’
9i2 10
9*2 10
95ft
9*2
*912 10
10
646 Franklin
934
25
ne
9%
J
30
22% Alch
7
67ft
67ft
67g
65ft
67ft
6*2
6=ft
612
634
6*2
6
634 2,190 Giroux Consolidated.
5
J’ly 26
12% Jan lo
36
37
36
38
36
37
38
37
38
371?
38
39
775 Granby Consolidated. 100
20
J’ly
c
111%
Jan 3
7
7
71«
7%
67ft
7%
7
634
67ft
634
7
67ft
4,286 Greene Cananea
20
63ft
Sep
21
117ft
Jan 3
21
22% 2212
2134 2214
207ft 22
22
21*4 2134
22
Hancock Consolidated 25
1,175
14% J iy 19
30
Jan 12
2
1*4
17«
2
*134
2
*134
*134
*134
2
55 Helvetia Copper
25
1*4 Oct 27
57ft Jan 4
12
12112
1U2 12
11
12
12
11*4
1 ,fi50 1 ndiana Mining
1214
12%
10
12%
44-1
25
J’ly
is
j Mch l
31
3138 31131%
307ft 31*4 *3034 31 ‘
1 14fi Island
3034 31*4
Coal
1
3**4 Dec 8
87 " 88 “
88
33-% Oct 29
88
88188I4
8714 8734
Ho
87*4 8734
88
87%
886
90
1
Nov 26
pref
84%
Nov
7
18
18
171177ft 177ft
18
17
16*4 1612
17 "
17
17
960 Isle Royale Copper.. 25
18% May 3
28% Jan 3
*6*4
67g
678
67g
634
634
634
C34
634
634
634
460 Kerr Lake
034
5
zQ
Sep l
11
Jan 5
*3
3
*27s
3
314
3
3*4
3
3
3
275 Keweenaw Copper
3
J’ly 7
25
634 jan 14
33
3234 331?
33%
307ft 335s
2912 32
31*2 33
34
327ft
7,246 Lake Copper Co
25
J’ly
15
28%
94*2 Jan 22
7%
71?.
78ft
7l2
7*2
75ft
7*4
71?
712
7*- 1,050 La Salle Copper
7%
7*2
7% Nov 17
25
*9
Jan 14
8
8
7%
8
8I4
*7*2
7
7*2
8
734
7%
7*2
Mass
Consol
1,395
25
4% Mch 8
*.40
10% Oct 13
.6( *.40
.60 *.40
.60 *.40
.60
Last Sale .50
Nov’10
Mayilowcr
25
.35
Oot 21
I7gjan 13
Last Sale .03
Nnv’m
Mexico Cons M ds S._ 10 .01
Nov 15
6
Jan 7
♦193s 19%
193ft 19*2
19
19
19% 193ft
195ft 195ft *lG5ft
Miami Copper
7il
17
1934
J
ly
18
5
29
Jan 4
4
4
314
*3
314
3*2
312
31?
3*2
4
3*2
*3%
175
Michigan
25
3%
3
Deo
45
8*2
Jan 21
45
45
45
*45
4434 45
45
45
*45
46
206 Johawk
25
43
Uiy2b
75
Jan 22
19
19
1834 19
183.4 19
18*2 1834
1834
19
19
Nevada
Zl834
3,201
Consolidated.
5
17% J’ly 6
27*-Jan 11
4
4
4
4
41ft
4
4
4
*3*2
4
4
3%
540 New Arcadian Copper 25
31- J’ly 13
10% Jan I*.
1034 107ft
1034 1034
1034 1034
105ft 1034
1034 1078
N1 pissing Mines
1034
1,346
1078
5
12
934
jau
17
29
MayvA
28
2914 3014
27
291?
30
2734
2712 28*2
28%
North Butte
J
13,786
18
ne jo
2934
15
50
Jan
3
7
7
634
634
7
634
6*2
634
6*2
6*2
6%
25
602 North Lake
6%
6%
Deo
9
Mch
7
*6
257ft
7
7
*512
6
*512
512
634
5*2
612
6%
130 Ojlbway Mining
6
6*2
Sep 7
25
1284 Jan 14
♦.50
.60 *.50
.60 .50
.50 *.50
.60 * .50
.60
*.50
.60
Old Colony
100
.25
25
Aug 9
134 Feb 1
38
38
*37
37
381?
37
3634 38
*36*4
37%
800 Old Dominion Co
25
37*8
55
29*2 J ne 15
Jan
3
*120
125
125
125
*120
125
120
120
124
125
123
123
25
114
J ’ly 27
71 Osceola
166
Jan
3
1212 121?
12*2 121- *12
13
12
12
12*2 12112%
12
310 Parrot Silver & Cop. 10
12%
J’ly 6
2134 Jan 3
74
74
74
73*2 73173
74
*_.-74
*70
73
35 Quincy
66
92
25
J’ly 5
Mch V
19
* 8%
19U 191o
181o
195ft
185c
183.
1&.2.
19*8
18*4 18**6% J’ly 1
2484 Mch 8
*1%
1*4
*1*4
1*4
*1*4
Last Sale 1%
1»4
*1*4
134
Santa
Gold
& Cop. 10
Dec’10
Fe
1*4
NOV26
234 Jan 3
11
11
11
113ft 11*2
11111
11
12
11*4 11*4
11%
10
18
834 J 'ly 6
1,695 shannon
Jan 3
lift
lift
*11a
1*4
11,
*lle
13o
ll.
1%
x
4
1%
Dec
1
334 Jan 19
42
42
40
4212 42*2
~42~ 3934 41
40*4 41%
4134
4134 1,099 Superior
25
36
J’ly 19
G8% Jan 14
6
6
6
5*4
6
6
6
6
6I4
6
6
6
18
1,822 Superior A Boston Min 10
Jan 12
4% Deo 2
13
13
13
1278 127ft
13
13%
13*2
13*4
13*2
13%
9
135ft
4,714
SuperiorAPitts
J’ly
5
Copp. 10
16% Jan le
♦50
♦51
*51
49
51
49
50
51
52
Tamarack
25
45*78
260
J’ne22
Jan
f
5
5"
5
5*
5
5
45ft
47ft
47ft
47g
969 Trinity
4%
4%
25
4% Dec 9
11% Jan 5
32
32l4 3234
32lft
30
30*2 32
31
33
3034 3H3134
Dec 7
30
6,273 U S Smelt Ref A Min. 50
55
Jan 3
46l2 4510
46*4 461?
4534 46lft
4534 4534
46
4534 46
Do
pref
50
46% 2,166
4534 J ly 20
53is jan 3
9
39
77*2 Nov
14*2 Mch
55*4 Oct
215
172/« Feh
94
Jan
Feb
22
19
84
93*- Mch
165
Jan
88
Jau
102
Oct
391- Mch 19
Mining
6^2
8
Feb 10
r
49% Oct 20
Sep 16
8% Feb ij
3
Sep 22
99% Aug 3
129% Aug 17
93% N0V2o
107
a
3
Jan 17
Deo
Mch
Nov
135
235
153
301
88% Sep
195*4 Jan
-
105
7
8
J’ly is
J’ly
_
76
Apr *
loi- Sep 3U
,lm
3
46% Dec
160
Dec 9
o an
143
113
Jan
b
115
Nov
27 J
Mch lb
267
Jan
1331- Jan
3
128*2 Nov
123
Oct 27
/5
Jan
90
Oct 14
79
an
210
Oct l
195
Oct
22\ NOVI6
1U4 Jan
st 34 Novi/
68*- Jan
i62-v Atch ’
0153
Nov
146
Feb
14-% Aug25
212
Mch.200
Apr
.On
Jan
7
190
Dec
26
A pr
41% Nov 1
llu
,jan
l■
90*4 Mch
1U0
Alch
97*- Apr
J’ly 27
98% Mch ^
Dec
124% Jan
223% Dec
132*? Jan
295
Sep
1134 Jau
60*- Jan
lo
May
L,
Feb 24
Feb 1
Nov 3
J’ne
239*4 Apr
4?
109
4
125% Oct
106
Jan
225
16% Nov 18
6
Boston Land
10
4%
Cumb Telep & Telee.lOO
'38<975 East Boston Land.
7%
184 Edison Eec Ilium.
100 //239
77
90
26
J’ly
.
Pacific Coast Power.. 100
116%
17%
Feo 1(
Jo
194 Pullman Co
100
119 Reece Button-Hole._ 10
Swift
&
480
Co
100
1,638 Torrington
25
Do
99
pref
25
638 United Fruit
100
Un
Shoe Mach
1,198
29%
Apr
ion
Do
537
pref
43 Mergenthaler Lino.-.100
150 Mexican Telephone-_ 10
67 N E Cotton Yarn
100
Do
21
pref
_ioo
207 N E Telephone
100
Nov’10
Jan
99
1,980
215
5
110
109
137
102
12
Mass..
.
83
289 General
SS%
93%
102%
33
.
8
281
153
88*2
93*2
223
£215
*4
5
110
110
*
*
109
136*- 137
137
Last Sale 93*4
162
160*2 162
12
12
12
10134 102
Nov’10
Nov’10
Highest
100% .Jan
136-% Jan
227
152
3 0
7
50
60
1,004
10
|
Jaa
98
3
7
Jail 1*
234
;
98% Aug 2
153% J’iy 26
8j% J’ly 7*6
Do
pref
100
200 Atl Gulf & VV I S S L.100
Do
689
100
pref
91%
8
281
152
&
Aug
J’ly
Nov2]
Oct 4
J’neiu
J’ly M
M(;U
Aug 29
Sep- 16
Oct 3
Oct U
Sep 21
Oct 15
Sep 26
110
32
91%
75
149
139
210
100
100
.
....
SSI8
9334
9o34
113%
141%
10
20*2
*7*2
2S7ft
7012
6*2
115
32
Vermont
.
Lowest
123*8 Jan
104% Jan
J’neiX
14% J’ly
10
378 West End St
Do
25
pref
14%
140%
202
iot.
_
3
99
5
114
113
_
«.
_
Highest
91% J’ly 21
97*2 Aug L
Albany..__10i
Elevated
10(
Rutland pref...
Seattle Electric
19
Do
pref
1.606 Union Pacific
Do
pref
...
4534
*4*2
1412
Last Sale 6
Last Sale 145
149l2 151
88*4 881-
*16
*83
99
10
20*2
7
931- 931*223
225
5
5
5*fi
112
110
110
10*
109
*_
109
1371- 1383s 13 7
1371*93*160
161
I6OI4 160
1234 1234 *12
102
10134 102
102
33*32*2 32% *32
27*2 271? *27*2 28
193
196
193
196
55
54
54
5514
6*2
9%
*
*1487ft 15212
8
734
280
45*4
9934
Santa Fe„ 10*
lOi
<&
....
.
46
*412
5
1334 143ft
113*2 11412
113
113*2
139*4 140
3012 30*2
91
9H4
226
*16190
90
43
99
434
1334
*
7
*1481* 153
8
734
280
280
151
152
153
612
92
10
43
pref
..
152
152%
*139
141
*139
141
Last Sale 210
June’10
18534 18534 186
186
Last Sale 36
Dec’10
Last Sale 105% Dec’10
*102
-
lop &
97
170
35
13 Maine Central.
io»
280 Mass Electric Cos
10n
281
T
Pref
100
007 N Y N H & Hartford. 10i
12 Northern N H
10o
Norwich & Wor pref 100
72 Old Colony
15014 151*-
995ft
113*2
*6
162
90
107*2
113
139
*29
_
91
*
10
11512 1157ft
16% 161?
619
6%
85g
37%
633s
_
201?
727ft
14
114*2 115
113*4 U37ft
140%
92*4
*27
193
55
29
185
37
43
99
4
*13
139
34
135ft
10U2 1017S
*30
331?
90
4*2
14
162
*12
141
185
43
*9312
162"
83*?
15134
*__,
997ft
*33
91
10
20
*3
*93l2
17*-
♦
9912100
*434
47ft
*10
*20
*5
7
*14510 153
*1487s
8
8
814
280
280
*280
15H2 15H- 152
89
89
89
93
*9314 9312
224
224
224
5
5
5
110
110
110
*109
110
110
138l4 138% 138
*39
160
Range for Precious Feat
(1909)
Railroads
,
218
zl‘22
& Lowell
20j
10(
& Maine
__10(
121
& Providence 10(
285
Suburban El Cos.
14
Do
70
pref
Boston & Wore Elec Cos.
8
Do
pref
35
Chic June Ky A USY.10*
139
Do
pref
109
10,
Connecticut River
260
lOo
Fitchburg, pref...
100
124%
Ca Ry &
Electric....100 104
Do
pref
85
lOi
6
....
*3210
33%
*210*2
-
113% 114
113
11334
13958 140%
93
88
151
*139
185
37
108
10*4
*
114
114
Last Sale 260
130
130
130
*116
113
*116
*
S3
87
11712
*83
83l4
*
11312 11414
11314 113%
139% 140
927g
18"
*210*2
17*2
299
16
72
Oct’10
*70
^
l>o
Boston
Boston
Boston
Boston
Boston
Boston
50
131
19S
63
128
25
50
1237ft
Range Since Jan. 1
Lowest
171 Atch
100%
102%
223%
128
215
*15
STOCKS
BOSTON STOCK
EXCHANGE
.
*102
*102
170
1893. 167
I60I4 1077ft 1663ft 168
16S34 169%
921- *91*2 921? *91*2 92
Last Sale 92
Nov’10
160
157
157
*157
160
*157
160
*157
89189*2 8953
89
89
89*4 8912
89
89%
105
1025ft 103 *1025ft 105
1025ft 1025ft *1025ft 105
43
100
*434
18
83
88
130
117
*87
15H- 15U2 152
139
*139
141
185
*35
100
*87
*210*2
1812
*83
151
139
85
*139
129*2 129*U712 11734
*=117% 11734
*874 88
16
70
70
Last Sale
39
39
157*2 15712 *15712 160
*
115
*15
72
39
100%
102%
102
222
223
127*8 1271j *127
♦
*210
215
124
124
123
*
♦
300
15
*
*39
Dec 9
9S7s
*101
222
216
122
299
122
3912
*157*2 160
987ft
102
221*2 221*:
12714 127*4
Sales
of Vie
Week
Sharei
Friday
1
Dec 8
99*:
*101
216
122
299
10
72
10
122
299
*15
*70
Thursday
Dec. 7
221*4 221%
12712 128
216
122
299
16
72
10
39
122
299
*15
*70
122%
300
16
72
*
10
*39
40
*15712 160
*113
9914
12712 1273j
216
Wednesday
Dee. 6
*9912100
102
221
216
122
*295
Tuesday
25ft
2*-
25ft
131?
465s
21?
23ft
1212
433.1
834
834
8*2
13
45
115
1*4
L18
13ftf
*2
115
1*4
U New stoca.
*2%‘
2%
13
45
234
87ft
L17
1*4
1234
45%
2*2
13
45%
2*-
2*-
8*2
S*2
*115
117
*ll8
e ash c,
path.
12%
453ft
*2%
87ft
117
il2
*1%
13%
453ft
234
9
117
2
o Ex-stocx div.
190 Utah-Apex Mining...
5
5
4,609 Utah Consolidated—
2,945 Utah Copper Co
10
155
895
106
305
a
Victoria
Winona
Wolverine
Wyandot
Ex-rignts.
a
2C
2j
2;
..........
2'*
2% Dec 7
12% Dec 2
/i39% J'ne30
2
5
lev
Deo
1
J’ly 13
J’ly 11
1% J’ly 26
Ex-div. aaa rights.
5% Jan
46
Jan
3
3
00% Jan 3
534 Jan li
lo
50
Jan 14
Jan 3
3% Jan *4
84
Jan
62
65
23
Feb
Mch
96*2 Nov
30
Feb
8
.45
Jiy
51% Dec
18
.80
24
Feb
17% J’ly
Sep
213ft Feb
96% May
3
585
29
10
Feb
Feb
J ne
68*2 Feb
7*2 May
7*2 Feb
1
Oct
Feb
7-% J’ne
90
Feb
9
Feb
8% Sep
5% Dec
13
22% Apr
7*2 Apr
2*2 May
16
Jan
1034 J’ly
4% Mch
.30
Apr
3*2 Apr
Feb
1234
534
*57%
16*2
3*2
Oot
J’ly
Feb
Nov
97ft Oct
47
Dec
4*2 Mch
534 Nov
Jne
47% Feb
122
Feb
Dec
19
.40
83
Deo
Oct
40*- Deo
Jan
May
Deo
11% Deo
1
33% Nov
119
695
Jan
Aug
44*2 Sep
.35
Jau
8634 Nov
12
Mch
163ft Apr
2i2 Jan
Aug
12% Nov
110% Dec
14% Nov
19
38
Dec
7*2 Aug
33%Feb
93ft
c734
74%
19%
18%
1
6
Aug
Deo
Deo
Deo
May
Deo
Nov
28% Deo
13% Mch
70% Jan
30
Nov
83g Deo
13
Sep
85% Jan
117ft Aug
14% Deo
.90
59
170
Deo
Aug
Deo
36% J’ne
99
Jan
1% Nov
13*2 Feb
27s jan
177ft Jan
Jan
13% Nov
127ft Apr
62
J’iy
0*4 Dec
67
34
Feb
39
44
can
4
Oct
37*4 Feb
3934 Feb
3
Oct
43. Apr
139
2
Alch
Oct
Deo
18% May
18,2 i1?
90
Feb
175g Jan
Sep
59
54
Oot
0% Jan
4934 Nov
66
6
Nov
Doc
.13% Deo
Aug
158
4
Jan
1587
Boston Bond Record
1910.]
Deo. Id
BOND*
iJu.x **:*»
Dec 9
ENDING
Weesfs
Range
Friday
Dec 9
Range or
Since
eo
BOSTON STOCK KXCH’GE
W KKK
Price
o
^
59
Sale
Last
Adjustment
Stamped
g
J’ly 1995
J’iy 1995
1955
1917
4a
50-year couv 4s
10-year conv 5s
A-O
J
J
-
M-S
J-J
M-N
J D
A-O
Nov
M-N
J-D
J-D
5s.’59 J-J
6s.1924 MS
1910 J-J
1944 J-J
Atl Gull <fc W 1 SS Lines
Boston Elect L cousoi
Boston «fc Lowell 4s
Boston da Maine 4 Vs
Boston Terminal 1st 8*39.1947 F-A
.1918 J-J
Bor da Mo Riv eons 6s
Butte da Boston 1st 6s....1917 A-O
Butte Elec <fc Pow Istg5s.l951 J-D
...
Cedar Bap do Alo It 1st 7s.1916 M-N
Cent Vermt 1st g4s..Mayl920 y-F
C B & <4 Iowa Div 1st 5s.1919 A-O
Iowa DlV 1st 4s
1919 A-O
Debenture 5s
1918 M-N
Denver Exten 4s
.1922 F-A
Nebraska Exten 4s
1927 M-N
B«fe 8 W 8 I 4s
1921 M-S
Illinois Diva *as
1949 J-J
Ohio jo By db Stk Yds 5s. 1915 j.J
Coll trust reloading g 481940 A-O
Ob Mil do Bt P Dub D 68..192U J-J
Ob M da 8t P Wia V dir 6sl02O
Ohio jb No Mlon 1st gu 5s.l98i
Obio & W Micb gen os....1921
Oonoord & Mont oons 4s.. 1920
Conn & Pass B 1st g 4S...1948
Cudahy PacK(The)lst g 5s 19.4
Current Biver 1st 5s
1926
Det Gr Ban da W 1st 4s... 1946
Dominion Coal 1st s t 5s.. 1940
J
113*3
87
11103
98*3
101*4
Mav'10
Nov 10'
99
99
87 V
101*4 101
99*4
Mai TO1
Oct ’09
101
ilia3*
113*8
uot'07
98**3 * 9*8 *3
J
863s
3 100
lol
Nov’ 10
83;*b
10134
99 V
93
.J| 89
6 113^115*3
96
127 *4 Sale
*9*3*4
127*4
Apr’08
127*4
Torrington 1st g 5s
140
Apr’05
95*»
Note—Buyer paya accrued interest In
9534
95*4
95*4
95 **
Sale
49
addition to the purchase price lor
| Wednesday
Dec 7
|
Dec 6
■
1.26
126
,,
127V *126V 127
127
’*4*2*' ♦!!!!!!
20 V
41
*39** *4*1**
*14 V
15^
*14*4
t
*14*4
14 V
Friday
Dec 8
Dec 9
15
*19
*39
14V
*14V
OA
♦24
*42
41
'
J-J
J -J
43
43
42 V
43
42V
4234
42 V
43
42 V
*11V
11V
1LV
11V
11V
*47 V
*32
48 V
32 V
76 V
47
47 V
32
47
31V
75 V
43
11 v
47
32
7oV
32
76 V
76V
......
26V
93V
88 V
26 V
04
89 V
27
27 V
93
94
e8V
89V
63Vt>3H18 Go**16 64fie
44 V
44 V
16V
16°»
18
18
72 V
8V
43 V
72*16
8*14
43
84 V
4
*44
84V
4
V
^
26 V
87V
bo V
93
00
64 V
44 V
44
15 V
18V
72V
73
71V 73*io
8V
44
8V
44
84V
84*s
Bid
PHILADELPHIA
Amer Pipe Mlg
100
Bell Telephone (Pa). 100
86 V
63 V
44
i5 V
18 V
19
^ ^4
44V
84V
| Ask |!
!
|
inactive blocks
Amal Asbestos Corp. 100
Preferred :
100
American Milling
10
I
100
Keystone Telephone ..50
Preferred
*20**8
***uv
20 V
v
c
126 V 127 V
97
*110
pref...„vr
103
41
4i**V
81
83
0
V
Snsqueh Iron da Steel..5
Tidewater Steel
Preferred
lu
10
••••••
26
Unit Trac Pitts pret..„„
Whrwiok Iron da Steel, lo
Weis bach Co
100
West J ersey da Sea Sh.60
Westmoreland CoaL...50
Wilkes Gas tv, Elec..100
*T6’* *Yo*V
40
52 V
43
91V
•Bid and asked; no sales on tliis day.
7i318
lo V
19V
7 l7*
8v
44 V
83 V
44V
83 V
44
15 V
18
71*3
153b
IS3*
19
18
73 V
723*
8
83ie
She
4334
833*
44S
83 \
*l2v
PUIIjAUELFUIA
84
31 *4
1,< 78
all “ and
ConTraootNJ 1st 5s.’33
E da A 1st M os 1920 M-N
Elec <fc Peo Tr stk tr otfs
Eq 11 Gas-L 1st g 5s 1928
83*4
103
100
99**
1
5 100V105
1
1
1
7*9 V
*75
107*3 -nov’05 ...j
102
Mai *02
78V 78V
78*3 Apr’IJ
103
104V
103*3 Nov’lU
88
110
97
Nov’10
|
104
05
j
97
97
Apr *07
**"!
„' i'oov
100V Mar’10
4 99 7e
100*3
lul
104 7«
....!
I047e Oct *10
96 V
97*3 97 h
97 V
145
166
Nov 10
6 101 bj
103 *«
1033b
!
97
98 V J’ly TO
101V J’ne’Oy
1
98*2
98*3 Apr TO
i
97
98
Oct TO
04 V
07 V
97*3
97*3 ^ait
94V
94V Jan ’Ui
100‘s Salt
a,
10034
101 V
109 V
97 V
166
1U5V
98 V
99*4
99
99
94V
latest bid and asked. 1j Fiat price.
Lowest
46
’14.Q-J
1914.(J-F
g.l924.U-F
Consol 4*«8 1923...J-D
Annuity 6s
J-D
Gen cons 4s 2003.M-N
Leh V Tran con 4s ’85J-D
1st series B 5s 1935.M-S
New Con Gas 5s 1948 J -D
Newark Pass con os 1930
N Y Ph«fc No 1st4s ’39 J-J
Income 4s 1939...M-N
N oohioTrac oon5 s’l 9. J-J
Penn Cons 5s 1919.. Var
Penn <& Md Steel con 6s.
Pa db N Y Can 6s '39. A-O
Con 4s 1939
A-O
Penu Steel 1st 6sT7 M-N
People’s Tr tr certs 4s ’43
P Co lstdk col tr 5s’49 M-S
Cou& coi tr 5s 1951M-N
Phil Elec gold trust ctfs.
Trust certifs 4s
P de E gen M 6 g '20. A-O
Gen M 4s g 1920..A&O
Unpaid,
Mar21
17 *3 Sep 19
413* J’ly 21
40*4 J’ly 36
li*4 J’ly 29
42
J’ne30
Gen
PHILADELPHIA
I Bid
Ph da Bead 2d 5s '33. A-O
Con M 7s 1911
J-D
Ex Imp M 4s g ’47.A-O
Terminal 5s g 1941.Q-F
P W da B coi tr 4s ’21. J-J
Portland By 1st 5s 1930.
Roch Ry& L con 6s ’01J-J
Spanish-Am Ir 6s ’27 J-J
U Trac Ind gen 6s’19.J-J
Un Rye Tr ctfs 4s’49J&J
United Rye Invlstcolltr
f 5s 1926
M-N
U Trac Pit gen 6s '97 J-J
Welsbaoh s f 5s 1930.J-.D
8
106*3
88
105V
*63*' *64*
Lehigh Nav 4*38
U Ex-n-hts.
103
Asphalt tr otis ....100 19 *4 J’ly 26
Do
77
pref tr ctfa ....100 64 J’iy26
i,U)5
7
J’ly 6
72u Keystone Telephone... 60
9H,
267e 1,635 Lake Superior Corp....100 15*3 J’ne.io
86
J’ne3o
639 Lenigh 0 da Nav tr ctfa. 60
92
89*3 I) ,864 Lehigh Valley....
60 62*3 J’ly *7
50 61llie J’ly 2t»
64*4 2,032 Pennsylvania BR.
J’ne3u
293 Pluladelp’aCo (Pittsb). 60 42
44 *4
15 V
2,215 Philadelphia Electric 11. 25 1137« r eo 5
16
Apr 28
18*s 8,39? Phils Rapid Transit... 50
60 65 *8 J Ty 2b
73
10,LUO Heading
Jan 2
6*3
1
8*8 5,284 Tonopah Mining
50 33 Oct 24
43
3,472 0 won Traction
50 79 J’ly2o
84 *tj 3,209 United Gas lmpt
Betnie Steel 6s 1998.<J-F
Choc da Mo 1st 6s 1949 J-J
Ch ok & G gen 5s T9 J-J
Col St By 1st con os 1932
Gen M 4*38
......
100
Range tor Previous
Year (lyoyt
47
7e
11*4
Bonds
are
97
97
7i
the
10 American Cement
50
154 Auienoan Railways.... 50
2,919 Cambria Steel.......... 50
340 Electric Co of America 10
89? Elec Storage Battery.. 100
1 Bid | Ask
Leh V Cist5s g’33..JJ
Leh V ext 4s 1st1948.J-D
Consol 6s 1923
J-D
-
Preferred
Phila Co (Pitts)
44
BBS 4s g
16
62
Pennsyl BR receipts
Phil German do Norris.50
Phila Traction
....50
Railways General
10
64
44 *4
63V
Interstato 4s 1943 ..F-A
......
4V
15 V
t c.,.50
60
10
Mine hill da Schnyl H..50
N Haven iron da steel.5
Northern Central
50
North Pennsylvania.
88V
64
44
88 V
1
Indianapolis By 4a. 1933
60
Keystone WatchCase. 100
Leh Vail Tran
Preferred v t
Lit Brothers
88 *3
76
Berg&EBrw 1st 6s’2i J -J
72 V
50
Indiana Union Tr..„.100
Insurance Co of N A.. 10
Inter Sm Pow do Chem.50
01 V
75*3
I
3IV
Alt&LV Elec »*as’33.F-A
Gas da Elec 5s’07. F-A
I! Am Bye conv 5s 1911. J-D
Atl City 1st 5s g ’19.M-N
......
Indianapolis St
91-4
8734
11V
47
:
::
io,
96 78 102
99
99*4 *”3
131
135
133
133*v 133
101
Apr’09
98 V Sep’09
5
114
114
1
98*3 99
Mar TO
99
103 V Sep TO ...j 103*8 1031*
80 Maril
141'Northern Central
50116 Jan 8
'Seaboard (new).........100 18*^ J’ly 29
Do
2d pref
..100 40 Oct 17
United By <fe Electric.. 60 12 V May 3
25
43
42
I1 Am
46
45
y
27*4
11V
....
i'l3*7bil6«i
1918 M-S
Baltimore
{
6 Con. Gas EL L. da Pow. 100
8
Do
100
prel
!
„„„
60
Central Coal «& Coke. 100
Consol Trao of N J...100
Easton Con Electric 6.60
9
*2 07„
25
43
43
47
3d
97
99*4
1 113
118
92 V 93 V
92
90
102
103
....1
Oct TO ..j
Shares
*64 V
*90
*126 127
*19
20
41
<39
41
1434 #14 V 15
*24
*42
42*4
*11*3
47
31 *4
*76
9*3
20 V
*91
47
Prices
Oambna Iron
Germantown Pass
43
42 V
I iv
3IV 31V
76 V 76V
0V
9 V
26 V 27
91
9uV
15V
15 V
8V
*43*3
8434
46 V
76V
“i
26
91
V
4i»4
*av
......
v
16 V
lsV
18
*42
75
93 V
99V
64*3 Deo 8
!
90 J’lyJ4
132 Feo28
27*4 Jan 3
47 Jan 8!
15 *s J’ly 15;
28
50
Jan
Jan
Highest
Deo
Mar 48
30
Mar 80
May
76
Jan
12IV
Deo
100
28*4 Deo
J IV Feb
2234 Feb 43 Deo
934 Feb 14 *3 Deo
3!
6
26
Dec
44 V J’ly
32 7e Feu
43
48
Jan
Deo
49 V Deo
53*s Jan 10
12 v J’ly
12*3 Jan 14! £c107b Jan
63*3 J’ly
64*4 Maril! 43 Jan
15 *a Jan
33*4 Deo
34*8 Jan 29
Jan
84*3 Deo
84*« uan ioj 53
15
9 *3 Jan
Apr
13
uanlo
337&May
14V Jan
28*4 Jan 3
123
Jan 7 96 Jan 125*3 Deo
67
Feb 113
Sep
121*4 Marls
693ie Mar 9 63*8 Feb 75V Sep
4o*a Feu 517b Deo
o3VJan 8
11V Fob 14 *8 Deo
16*4 MarlS
24V Jan 36*3 Apr
28*aJan 3
86 ‘4 Sep
59 *3 Feb
86
Feb la
oV Jan 718ie Mar
9h0Mayi3
507b Jan 587b May
52V jau 3
95 *3 Deo
95 *8 Jan 10
84V
.
*42 V
*42 V
Feb’09
100*3 Sep *08
102
A-O
133
loov
100v
A-O
Philadelphia
91
CK
100V Sal©
Bonds and Inactive
j Week | (ForStocks
see below)
64 V
90
64 V
90
-...
♦125 V
*40*s
*14 V
Thursday
|
j
102*4 Nov’10
ACTIVE STOCKS
! sales |
Per Centum Prices
Tuesday
Monday
Dec 5
90
113 V Nov’06
101 *4 Sep’05
115
J’ne’08
99
99*3 99
J- J
all Boston Bon.ls. * No price Friday;
0/
Saturday
Dec 3
i*i6
90V Feb’10
iie*^ 116*i 116*3
Oct TO
93*3 93
97
Aug’10
102*3 Aug'04
F-A
A-O
High
99*2 101
Low
1
Exchanges—Stock Record, Daily, Weekly, Yearly
Philadelphia and Baltimore Stock
share I'ncen—Not
97*b
94*3
1
••••••
99
Union Pac BK <fe 1 gr g 48.1947 J-J
20-year conv 4a
1927 J-J
United Fruit gens I 4**8.1923 J-J
U S Coal & Oil 1st s f 6a.. L938'M-N
U S Steel Corp 10-60 yr 5a. 1963 M-N
West End Street By 4a
1915 F-A
Gold 4*38.....
1914!M-S
Gold debenture 4s
1916 M-N
Gold 4a
1917 F-A
Western Teleph & Tel 5s. 1932 J-J
Wisconsin Cent 1st gen 4al949 J-J
127*4 127*4
3
A-O
A-O
j J
Since
.:::i
•••••*
A-O
January 1
*V°6
I0l*s. 103
A-O
Range
1*1
High.
100*8
90
Butland-Canadian 1st 4sl949j J - J
Savannah Elec 1st consds.1952' J-J
Seattle Elec 1st g 5s
1930, F-A
Shannon-Ariz 1 st g 6a
1919 M-N
Terre llaute Elec g 5s
1929 J J
....
96
J-D
M-N
M-S
M-S
Oreg By da Nav con g 4s.. 1946 J-D
1922 F-A
Oreg Sb Line 1st g 6s
PereMarquette deb g 6s.. 1912 J-J
liepub Valley 1st s t 6s... 1919, J-J
Rutland 1st con gen 4 *38.1941 J - J
101*3 10134
99 V 100
99
99V
Sep ’10
A-O
-Saj
1117
A Dr’08
93 V Mar’ 10
IOOVIOOV
100
or
Last Sale
ask\Low
Bia
A-O
A-O
New Biver (The) conv 5s. 1934 J-J
N Y N H da H con deb 3 Vsl956; J - J
Conv deb 6s (ctfs)
19481 J-J
Old Colony gold 4s
1924 F-A
Febr05
100*3
Oct ’10 ...J! 99
2 100
101
101
11
91
Dec’07
112*4 Jan ’03
****(
101**4 Aug’09
99
99
99
Anr’10
88
90
83
Dec’10
96*3 98V
96*3 J’ne’iO
103 *« Api '05
101
Sale
99
101
*
126
99
101
J-J
M-N
J-D
J-D
A-O
M-N
A-O
AO
M-N
1915 M-S
Fitenburg 4s
4s
1927 M-S
Frernt Elk & Mo V 1st 6s..1938 A-O
Unstamped 1st Os
1933 A-O
Gl Nor C B &
coll tr 4s 1921 J-J
Registered 4s
1921 Q-J
!
88
85
J’ne’10
Mar’10
99 *3 N ov’ 10
100
99 **
113*3 114
Range
Dec 9
.
87
ft ecu's
Price
Friday
Htgd So Ja)w Riga'
A SK Low
1913
1043b 12 100*4 104 V! Illinois Steel deben 5s
10438 8ai«- 1102
93*4 1 la Falls&Sioux Cist 7s.. 1917
90 V 83 89
9u V Sale ! 90*5
99*3 106 | Kan C Clin & Spr 1st 5a...1925
Dec’10
103*4 103 *3 104
I 8?V Sep TO
87*4 87V! KanCFt SdfcGull ext5s.. 1911
Kan C Ft Scott do M 6s.... 1928
; 105
109 j 8 97 119
Kan CM & B gen 4s
1934
5
89
91
90
90 I
8ale
90
j
Assented income 5s
1934
08 V
9834 20: 98 lOiV!
98V Sale
88*3 94 V|! Kan C do M By da Br 1st 5sl929
91
90*«NovT0;
90
90V 943b j Maine Cent oons 1st 7s...1912
91
90°g
90V1
90
Cons 1st 48
1912
102 *3 102 S,1
102»a Ply Toj
108
*t 117*3 Maro Hough &Ont 1st 68.1925
Nov’ 10*
108
Mass Gas 4*28
1929
73
67
67
9; 63
Sale
67
Mich Teieplst 5s
1917
110
Feb’04
Aiinne Geu Elec con g 5s 1929
100*4 Mar’09
New Eng Cot Yarn 5s
1929
104*3 Oct ’08
New Eng Teleph 5s
1915
1112*3 Jan ’03
fis
1916
103
103
Feb’10
103
New
England
cons
g
5s...1945
100
J’ne’01
boston Term 1st 4s
1939
till.
Am AiirioulChem 1st 5s..1928
am 1 elep da Tei coil tr 48-1929
Convertible 4s
1986
Am Writ Tuner 1st 8 t5sg 1919
191.)
Am Zinc L da S deb 6-s
Ariz Com Cop 1st eonv 6s I92u
Aten Top da tt Fegen g 4s.. 1995
^January
S-2
BOSTON STOCK EXOH’GE
Week Ending Dec 9
109V
146
97
97V
Wlks-B g<&E con5s’55J-J
BALTIMORE
Inactive .Stocks
Ala Cons Coahfe li on. 100
100
Pref
Atlanta da Charlotte.. 100
Atlan Coast L (Conn) 100
100
Canton Co
Cons Cot Duck Corp...60
Preferred
50
Georgia Sou & Fla...100
1st pref
100
2d pref
100
G-B-S Brewing
100
BALTIMORE
| Ask
101
ISO
116
ioiv'
City da Sub 1st 5s..’22 J-D
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| Consol Gas 5s..1939 J-D
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J-J
98 V
loiV 101*a Cons GE <& P 4*38’35.J-J
Fair* Cl Tr x st 68 ’38. A-O
75
Ga da Aia 1st con 5s '4oJ -J
74
GaCardbN
79 V
101 v
89
80
......
00
are all “ and
interest.”
Anaoostia da Pot 5s
Atl Coast L(Ct)ctfs 5s J-D
Ctfs of inaebt 4s....J-J
6-20 yr 4s 1925
J-J
Balt CPass 1st 5s 'll M-N
Balt Fundg 6s.l916M-N
91*3
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92*3
102
95
101V
76*4
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101
76
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Exchange 3 *38 1930 J-J
Balt da P 1st 6s m 1 ’ll A-O
BSPAC 18t4>38 ’63F-A
Bait Trao l8tos..’29 M-N
No Balt Dlv 5s 1942 J-D
Cent’l Ry con5sl932 M-N
Ext da Imp 58.1932 M S
Chas CityRy 1st 5s’23 J -J
Chas Ry G «fe El 5s '99 M-S
gu5s’42M-S
Ry<fe Lt i st5s ’ 5 3 J-J
Memphis St 1st 5s’4d J-J
M aeon
40
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230
223
121
117
6 V
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20
18
30
90
94
70
1
75
2
Prices
99*
lst5sg’29J-J
Georgia P 1st 68...’22 J-J
GaSo do Fla 1st os 1945J -J
G-BrS Brew 3-4s 1951M-S
2d income 5s 1951 M-N
Knoxv Trac 1st 5s ’28A-0
LakeK Ei 1st
60
Bonds
101
Bid
Ask
Chari C do A 2d 7s’10 A-O
100V 101
102 V
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100V lOoV
94*8 95
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110
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1st os.
NptNJfcU P 1st 6s’38 M-N
Nor&PorTr lst5s’36J-D
Norfolk St 1st os’44..J-J
N orth Cent 4 *281925 A-O
Senes A 53 1926....J-J
Series B 5s 1926....J-J
Pitt Un Trac 5s 1997.J-J
Polo Vai 1st 5s 1941..J J
Sav Fla da West 5s ’34 A-O
Scab do Roan 5s 1926. J J
South Bound 1st 6s..A-O
U El L&P 1814*38*29 M-N
U u Ry do El 1st 4s *49 M-S
Income 4a 1949
J-D
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Va Mid 2d ser 6a *11.M-S
3d senes 6s 1916..M-S
4th ser 3-4-58 1921. M-S
5th senes 5s 1926. M-S
Va (State) 3s new ’32.J-J
Fund debt 2-3s 1991 .J -J
West N C con6s 1914 J-J
Wes Vs C&P 1st 6g*ll J-J
Wil do Weld 5s..1935.J-J
105
102
107
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107*3 108
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103 V 103 V
105
105V
113
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42 V 43
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102V 104
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97
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104
110
110
107
106
107
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06
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107*3 109
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85
61
85
100
105
104
105
88
88
105
100*4 100*3
110
111*4
96
i $13*3 paid, i $35 yaicL a Receipts.
6 4>25paid. c$30paid. d$42*8pald.
1568
THE CHRONICLE
|VOi.
LXXXXI
%UM8tmmt and Railroad Intelligence.
KAILHOAD
GROSS
EARNINGS.
The following table shows the gross
earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained.
The first two columns of figures give
the gross earnings for the latest week or month, and the last two
columns the earnings for the period from
July 1 to and including such latest week or month. We add a
supplementary
statement to show the fiscal year totals of those roads whose fiscal
year does not begin with July, but covers some other
period
The returns of the electric railways are brought together
separately on
Latest Gross Earnings.
ROADS
Week
Current
Year.
or
Month.
Ala N 0 ATexPaoN O A Nor East.
Ala & Vioksburg.
Vlcks Shrev & P_
Ala Term & North.
Atch Topeka A S Fe
Atlanta Birin & Atl
Atlantic Coast Line
0 Baltimore A Ohio
2d wk Nov
2d wk Nov
2d wk Nov
October
October
__
July 1 to Latest Date.
Previous
Year.
65,000
32,000
27,000
10,361
subsequent
a
64,000
34,000
28,000
6,677
Current
Year.
Previous
Year.
1,284,559
668,423
1,255,792
572,035
34,231
page.
Latest Gross Earnings.
ROADS.
Week or
Current
Month.
Year.
N Y N H A Hartf— October
eNYC& Hud Riv. October
Lake Shore AMS October
n Lake E A West
October
Chic Ind A South October
Michigan Central October
Cleve C C A St L. October
Peoria A Eastern October
Cincinnati North. October
Pitts A Lake Erie October
Rutland
October
N Y Chic A St L_ October
Toledo A Ohio C. October
Tot all lines above October
N Y Susq A West.. October
Norfolk Southern. October
Norfolk A Western. October
Northern Central. October
Northern Pacific
October
Pacific Coast Co
October
Pennsylvania Co
October
a Penn—E of P A E
October
a West of P A E_ October
Pere Marquette
OctoDer
Phlla Balt A Wash. October
622,014
536,785
24,091
9,931,805 9,444,348 36,091,145 34,879.236
July 1 to Latest Date.
Previous
Year.
Current
Year.
Previous
Year.
5,571,071 5,417,411 22,046,413 20,969,571
9,166,923 8,889,031 35,971,065 34,064,680
4,399,006 4,307,470 17,586,259 16,793,474
495,286
505,275 2,002,762 1,909,892
327,011
324,804 1,106,586 1,144,441
4th wk Nov
2,706,510 2,700,718 10,621,999 9,953,284
77,083
71,911 1,158,931 1,071,871
2,868,096 2,585,574 10,858,460 10,126,598
October
2,557,255 2,503,776 9,021,842 8,334,509
342,741
294,366 1,317,324 1,126,349
October
8,168,817 7,840,698 32,684,444 30,518,589
B & O Ch Ter HR September
117.580
119,076
136,345
484,447
95,403
450,827
407,932
285,909
1,634,951 1,601,088 6,305,259 6,053,791
Bangor A Aroostook October
259,559
256,084
995,959
950,551
Beliefonte Central
331,918
October
321,384
1,298,688
8,790
1,203,759
6,687
31,069
21,062
Boston & Maine
1,093,571
October
984,127 3.876.976 3,538,274
4,085,314 3,914,354 16,215,892 15,573,202
Bridgeton A Saco R October
500,823
384,832 1,985,876 1,548,206
4,456
3,828
20,479
19,181
Buff Roch A Pittsb 4th wk Nov
23984419
23017745
93,415,703 87,913,576
240,764
240,454 4,203,426 4,033,724
Buffalo A Susq
335,527
326,381 1,246,136 1,128,372
September
202,422
236,890
593.853
663,683
Canadian Northern. 4th wk Nov
248,034
229,268
465,200
940,040
862,940
449,500 6,791,200 5,629,100
Canadian Pacific
4th wk Nov 2,768,000 2,682,000
3,300,513 3,045,354 12,591,374 11,553,005
46,918,130 41,552,790
Central of Georgia.. 4th wk Nov
1,180,907
1,245,307
355,000
4,401,377 4,360,977
312,100 5,495,651 5,174,292
Central of New Jer. October
6,368,879 7,793,072 25,491,957 28,991,368
2,418,345 2,459,702 9,645,744 9,182,359
Central Vermont
October
804,850
758,929 3,142,392 3,030,650
393,707
352,353 1,394,142 1,370,465
4,933,070 4,944,045 20,202,767 19,011,172
Chattanooga South. 1st wk Nov
1,812
1,490
33,595
29,037
Ches A Ohio Lines. 3d wk Nov
14576084 14773884 56,599,707
651,209
618,414 13,212,885 12,268,371
55,079,207
Chicago A Alton
4th wk Nov
Inc. 12 1,400
303,274
lnc.2,28 4,200
293.514
6,481,774
6,110,378
Chic Burl A Quincy October
1,453,52
<
1,509,464
8,909,593 8,363,547 32,759,270 30,896,895
5,710,37;. 0,549,902
V Chic Great West. 4th wk Nov
1,660,681 1,564,481 6.846.976 6,166,176
227,368
237,756 5,484,498 5,038,717
Pitts Cln Ch A St L. OctoDer
Chic Ind A Louisv. 4th wk Nov
4,037,60c 2,969,747 12,063,722 i 1,096,368
147,976
146,655 2,741,647 2,588,667
Raleigh A Southp’t October
Chic Ind A Southern —See New York Cen tral.
15,332
14,265
52,148
49,535
Reading Company
Chic MU A St Paul. October
6,508,261
6,553,305
24,352,306
23,610,689
PhUa A Reading. October
Ch Mil A Pug Sd_ October
4,003,362
4,062,620
14,892,138 14,343,383
1,319,990 1,029,687 4,795,113
Coal A Iron Co
Chic A North West
October
October
2,992,642 3,444,847 8,679,040 8,860,000
7,378,280 7,499,670 27,750,328 27,238^044
Total both cos
Chic St P M A Om_ October
October
6,996,004
7,507,467
23,571,176
1,662,073
23,203,385
1,494,236 5,987,850 5,261,453
Rich Fred A Potom September
Cln Ham A Dayton October
176,133
143,901
550,070
864,697
885,624 3,443,699 3,336,250
481,534
Rio Grande June
Clev Cln Chic A St L —See New York Cen trai.
September
100,463
96,250
287.355
267,615
Rio
Grande South
4 th wk Nov
Colorado Midland.. October
15,435
16,172
277,987
203,964
213,343
243,962
758,162
Rock Island Lines. October
867,475
Colorado A South. 4th wk Nov
6,622,782 6,410,161 24,282,6G0 23.777,070
478,600
479.698 7,577,813 7,235,937
St Jos A Grand Isl. October
Copper Range
185,079
August
172,227
644,028
66,774
615,907
62,557
137,508
St Louis A San Fran October
140,479
Cornwall
October
4,074,796 3,828,766 14,821,545 14,327,639
11,906
14,020
60,125
Chic A East Ill.. October
56,644
Cornwall A Leban.. October
1,171,671 1,085,712 4,278,299 3,899,589
28,431
39,575
131,681
153,312
/ Evansv A Ter H October
Cuba Railroad
228,649
October
216,429
982,237
190,692
156.698
861,778
821,883
Total of all lines. October
641,234
Delaware A Hudson October
5,475,117 5,130,907 20,082,082 19,089,006
1,948,931 1,836,202 7,212,815 6,704,037
St
L Rky Mt A Pac. October
Del Lack A West.. October
194,237
148,417
707.158
3,218,296 3,261,250 12,354,823 12,257,177
568.887
St Louis Southwest. 4th wk Not
Denv A Rio Grande 4th wk Nov
353,078
313.651 5.306.637 4,856,609
625,500
583,000 10.945.195 10,497,889
San Ped L A A S L. September
Denver N W A Pac. 3d wk Nov
634,845
655,492
25,425
1,898,160
19,728
2,118,782
528,025
473,514
Seaboard Air Line.'}
Det Tol A Iront Sys 4th wk Nov
48,910
42,651
898,896
702,717
Atlanta A Blrm. 1 4th wk Nov
Ann Arbor
4th wk Nov
516,556
485,004 8,334,737 7,761,266
57,968
54,781
867,748
803,143
Florida W ShoreJ
Detroit A Mackinac 4th wk Nov
22,583
25,236
507,003
513,833
Southern
Dul A Iron Range. October
Indiana.. September
155,996
120,762
922,872 1,280,069 4,516,927 5,484,405
474,496
346,357
Southern Pacific Co October
Dul Sou Sh A Atlan 4th wk Nov
12.478958
67,943
68,283 1,487,754 1,476,194
Southern Railway. 4 th wk Not 1.597,221 12,654702 47,372,616 46,311,921
El Paso A Sou West October
1,494,571
5,636,849
602,817
24,255,806
584,996
2,371,061 2,328,575
Mobile A Ohio... 4th wk Nov
Erie
October
345,070
306,346 4.550.638 4,306,192
5,115.689 5,180,085 20,231,648 18,894,541
CinNOA Tex P. 4th wk Nov
Fairchild A Nor E_ October
262,006
263,644 4,001,516 3,684,757
1,900
1,884
8,016
Ala
7,503
Great South. 4th wk Nov
Fonda Johns A Glov October
131,812
136.651 1,899,443 1,653,686
78,832
71,198
356,166
321,666
Georgia Sou A Fla 3d wk Nov
Georgia Railroad
October
47,711
51,181
930,540
316,283
890.539
318,130 1,042,208 1,015,690
Texas a Pacific
4th wk Nov
Georgia South A Fla —See Sout hern Rail way.
582,71t
540,t34 7,15j, 114 6,687,315
Tidewater
A
Grand Trunk Syst
West.
October
4th wk Nov 1,132,674 1,127,837
6.64C
6,276
28,26
L
26,065
19,218,579
19,202,719
Toledo Peor A West 4th wk Nov
Grand Trk West. 3d wk Nov
37,304
32,633
110,420
554,404
127,348 2,298,998 2,449,141
493,300
Toledo St L A West 4th wk Nov
Det Gr Hav A Mil 3d wk Nov
74,298
79,234
46,878
1,646,851 1,658,123
38,713
802,667
808.391
Tombigbee Valley. October
Canada Atlantic 3d wk Nov
6,440
41,921}
6,271
27,478
44,168
25,122
788,430
Union Pacific Syst. October
872,458
Great Northern Syst November
8,905,657 8,890,381 33,911,422 32,474,222
5,698,315 6,135,465 30,240,657 31,078,621
Vandalia
Gulf A Ship Island. September
October
962,560
919,442
3,758,283
160,657
3,310,456
177,432
476,017
491,290
Virginia A Sou West October
Hocking Valley
Octouer
116,519
111,704
426,587
759,568
782,298 2,945,970
416,781
WaDasn
Illinois Central
4th wk Nov
November. 5,348,567 5,126,767 26.112.196 2,774,562
755,640
761,477 13,197,058 12,585,315
24,420,838
Western Maryland. September
Internat A Gt Nor. 4th wk Nov
665,658
610,391 2,003,356 1,733,046
307,000
281,000 4,122,410 3,743,782
W Jersey A Seash.. October
a Interoceanic Mex. 4th wk
Nov
484,730
437,630 2,967,569 2,643,069
258,094
241,022 3,548,962 3,316,600
Iowa Central
wheeling & Lake E October
4th wk Nov
771.581
619,874 2,580,589 2,471,015
62,614
68,224 1,442,623 1,476,450
Wrl jiitsvllle A TenD September
Kanawha A Mich.. September
32,710
37,270
70,920
313,402
72,626
229,382
891,324
681,589
a Miss Vall. .November.
Kansas City South. October
1,174,392 1,075,125 4,322,421 4,249,262
951,102
861,897
3,527,437
K C Mex A Orient._ 4th wk
3,018,670
Nov
50,800
39,800
838,518
724,753
Lehigh Valley
October
3,384,100 3,344,380 12,409,081 11,912,704
Lexington A East. October
Current
39,858
Previous
34,866
173,594
151.392
Various Fiscal Years.
Long Island-.
October
Period.
Year.
Inc.62 ,744
Year.
Inc. 260 ,238
Louisiana A Arkan. September
120,030
110,214
363,548
316,364
Louisv Hend A St L October
Beliefonte Central
Jan
1
to
Oct 31
108,944
$70,343
104,591
$50,314
426,611
s Louisv A Nashv.. 4th
396,844
Delaware A Hudson
wk Oct 1,403,470
Jan l
to
31 16,848,067 16,001,404
oct
1,356,507 23,082,920 21,465,414
a Mexican Railway
Macon A Blrm'ham October
Jan
1
to
21
Nov
7,411,100
15,626
6,721,200
16,785
51.184
a Mexico Nortn Western
52,559
Maine Central
Jan l
to
October
Oct
31
1,843,531
823,574
782.135 3,302,965 3,252,151
1,029,068
c N Y Central A Hudson RiverMaryland A Penna. October
Jan 1 to Oct
31 32,941,864 76,638,451
42,284
39,518
163,085
a Mexican
Lake
148,963
A
Shore
3d
Jan
1
wk
Michigan
South
to
Railway.
Nov
Oct
31 41,299,387 37,038,582
149,300
155,300 3,232,100 3,000,300
n Lake Erie A Western
a Mexico Nor West. October
Jan 1
to
Oct
31
218,690
4,573,643 4,077,235
122,973
774,440
411,319
Chicago Indiana A Southetn. Jan 1 to Oct 31 3,032,345 2,571,125
Michigan Central
—See New York Cen tral.
Mineral Range
Michigan
Central
4th wk Nov
Jan 1
to
Oct
31
24,609,403
16,408
22,543,654
24,062
313,428
369,260
Cleve Cin Chicago A St Louis Jan 1 to Oct
Minneap A St Louis 4th wk Nov
31 25,030,728 22,634,621
97,790
97,620 2,357,840 2,318,737
Minn St P A S S Ml 4th wk Nov
Peoria A Eastern
Jan
1
to Oct
31
517,034
2,909,083 2,462,701
584,548 10,184,116 10,831,169
Cincinnati Northern
Chicago Division.!
Jan 1 to Oct
31
1,074,413
975,457
Pittsburgh
A
Lake
Mississippi Central October
Erie
Jan
1
to
Oct
31
77,541
14,588,878 11,836,433
82,042
307,977
v Mo Kan A Texas.
278,033
Rutland
Jan 1
November. 2,867,469 2,433,439
to Oct
31
2,775,033
2,573,816
13,123,633 11,858,586
New York Chicago A St Louis Jan 1 to Oct
Mo Pac A Iron Mtl
31
9,326,499 8,209,747
Toledo A Ohio Central
Central Branch./ 4th wk Nov
Jan 1
to Oct
31
1,384,000 1,878,000 23,107,363 22,819,275
4,151,566
3,177,743
Nashv Chatt ASt L October
Total all lines
Jan 1
to Oct
31 216321842 194739 563
1,019,241 1,009,213 3,873,282 3,790,626
a Nat Rys of Mex.f
Northern Central
4th wk Nov 1,644,155
Jan 1
to
Oct 31 10,591,771 10,072,071
1,653,159
26,505,161
N e v ad a- C al- Oregon 4th wk Nov
23,149,867
d Penn—East of Pittsb A Erle.. Jan 1
to
Oct
31 137023656 125222056
7,860
8,947
179,947
d west ot I'ittso A Erie
Nevada Central
232,410
Jan 1
to
September
Ooc
51
me. 11,66 1,000
6,046
6,867
18,110
N o Great Northern October
18,449
Phlla Baltimore A Washington. Jan 1 to Oct 31
139,005
117,864
15,929,387 14.631,387
575,503
N O Mobile A Chic. Wk Nov 26
430,656
Pittsb Cln Chicago A St Louis._ Jan l
to Oct
31 28,855,414 24,686,468
38,752
32,552
711,570
N Y Ont A Western October
630,204
Rio Grande Junction
Dec 1
to Sept 30
743,446
702,628 3,482,661 3,134,981
843,176
765,504
Texas A Pacific
Jan 1 to Nov 30 14,580,789 13,305,483
West Jersey A Seashore
Jan 1 to Oct
31
5,567,521 5,041,621
__
-.
_
_
._
__
•
_.
__
_.
-
__
__
_.
__
__
_
_.
_
_.
__
__
__
__
__
_
__
_
__
_.
._
._
_
__
_.
_
_
.
_.
.
__
._
__
_.
.
.
..
__
__
_.
__
.
_.
__
_
__
__
AGGREGATES OF GROSS
EARNINGS—Weekly and Monthly.
Weekly Summaries.
3d
4th
1st
2d
3d
4th
1st
2d
3d
week
week
week
week
week
week
week
week
Sept (40 roads)....
Sept (46 roads)....
Oct
Oct
Oct
Oct
Nov
Nov
week Nov
4th week Nov
w
va
Tr»*Hj«r.2
.
(42 roads)
(42 roads)
(42 roads)
(46 roads)
(41 roads).
...
(43 roads)....
(40 roads)
(40 roads)....
$
Year
Inc.
$
14,164,775
19,035,149
14,399,649
14,838,200
15,114,753
20,827.936
14,198,835
14,555,983
14,278,852
17.439,211
or
Dec.
%
S
13,566,355
18,221,030
+ 598,420
14,023,816
14,158,835
14,512,278
+ 375,833
20,204,138
13,836,545
14,373,360
13,578,646
16,978,284
+
-+
4-
814,119
079,365
602,475
+ 623,798
+ 362,290
+ 182,623
+
700,206
+ 460,927
Monthly Summaries.
!
4.41
4.47 j
2.68
4.80 i
4.15 ;
3.06
2.61
1.27 1
5.16
2.71 1
Mileage Curr. Yr. Prev. Yr.
February ..236,852
231,652
March
235,925
230,841
237,569
April
232,463
May
237 560
232,494
June
238,108
238,109
August ....238,493
Septem ber. 233,4 28
October
81,498
November.. 87,809
July
.
....
?u5JFcilc?
&
eludes the
Cur'nt Year Prev’s
Current
Yr. Previous Y
$
.
i
Inc.
$
202,258,490
237,533,005
225,225,596
234,310,642
232,054 237.036,159
233,203 230,615,776
174,159,723
204,916,997
106,593,911
201,069,381
209,270,887
217,803,354
239,404 254,005,972 235,726,000
229,161 252,711,515 242,562,898
79,146 69,014,101 67,173,773
85,221 69,828,448 68.138,393
<
July 1910.
u
Includes the Texas Central In 1910.
Clnclnait
%
+ 28,098,767 16.15
+32,616,008 15.92
+ 28,629,685 14.56
+ 33,241,261 16.53
4-27,765,272 13.27
+ 12,812,422 5.90
+ 18,279,972 7.75
+ 10,148,617 4.19
+ 1,840,328 2.14
+ 1,690,055 2.48
m
from
Dec.
$
kfLt°'^rr lihes directly operated, e includes the New York A Ottawa, the St. Lawrence A Adirondack and
r!^Sr
,n® a^anadian road, does not make returns to the
Commerce Oommis3lon.
f Includes
^l^ye*and Lora^in A Woeeling rty. in both years, n IncludesInter-State
the Northern Ohio RR.
p Includes earnlng3
*5
W*sc
A
Paciilc.
s Includes Louisville A Atlantic from
a?d
Minn.
Mexican International
July 1 1909 and *he Frankfort A
ib
or
iro.n Nov
the Ottawa A
Evansville A
oi MasonOity
1 1909.
fin*
Weeks.—In the table which
earnings for the fourth week
roads and shows 2.71%
Latest Gross Earnings by
follows we sum up separately the
of November.
The table covers 40
increase in the aggregate over the same
Fourth Week
$
135.651
71,911
240,454
$
131,812
77,083
240,764
465,200
2,768,000
355,000
Alabama Great Southern
Atlanta BIrmingnam & Atlantic
Buffalo Rochester & Pittsburgh
Canadian Northern
Canadian Pacific
Central of Georgia.
Chicago & Alton
Chicago Great Western
Chicago Indianapolis & Louisv
Ctnc New Ori
i'exar Pacific._
Colorado &, Southern
Denver & Rio Grande
Detroit & Mackinac
Detroit Toledo & Ironton
Ann Arbor
Duluth South Shore & Atlantic
Grand Trunk of Canada
1
Grand Trunk Western
Detroit Grand Haven & Mil.
Canada Atlantic
48,910
57,969
67,943
&, Orient._
Louisville & Nashville.
Decrease.
$
%
10,388
1,321
2,653
6,259
3,188
Mexico —
Nevada-Callfornla-Oregon
Rio Grande Southern
Southwestern
Seaboard Air Line
Southern Railway
Texas & Pacific
Toledo Peoria & Western
Toledo St Louis & Western
St Louis
Wabash
39,800
1,356,507
24,062
97,620
584,549
11,000
46,963
1,378,000
306,346
1,653.159
8,947
16,172
313,651
485,004
1,494,571
540,634
32,633
79,234
761,477
6,000
38,724
39,427
31,552
102,650
16,978,284
584,258
460,927
(2.71%)
Earnings Monthly to Latest
8
10,361
34,231
4,456
20,479
5
6,677
24,091
Little Falls A Dolgeville.b—
July 1 to Sept 30
Louisv Hcnd A St L.a.-Oct
July 1 to Oct 31
24,208
21,122
104,591
396,844
386,363
846,818
164,913
284,542
284,946
919,442
3,310,456
288,728
929,219
301,320
981,137
9,330
78,549
7,766
58,929
3,959
26,592
92,366
839.554
93,867
785,471
44,878
428,024
bOct
27,565
245,052
25,973
214,995
13,342
110,358
Fall River Gas Works.b-Oct
Jan 1 to Oct 31
42,064
334,918
18,976
155.969
Houghton Co Elect Lt.b-Oct
Jan 1 to Oct 31_
43,347
360,074
24,572
217,640
22,850
205,047
13,157
106,300
3,367
21,638
45,948
375,303
13,808
93,455
22,197
145,953
11,641
98,168
Lowell Elect Lt Corp.b-Oct
Jan 1 to Oct 31
38,256
343,640
33,843
289,400
113,157
1,023,329
94,364
885,836
16,723
146,377
73,747
628,440
16,466
122,620
56,844
502.606
49,206
45,283
35,362
26,353
Edison Elect (Brockton)
Jan 1 to Oct 31
67,515
9,004
1,087
737
Minn Gen Elect Co.b
Jan 1 to Oct 31
Oct
El Co_b
Oct
Sierra Pacific
a
42.082
4,936
5,831
108,944
426,611
73,725
64,374
Mineral Range.b
Oct
298,657
252,159
July 1 to Oct 31
1,915,981
Minn St P & S S M.a-.-Oct 1,269,067
4,951,868 5,934,041
July 1 to Oct 31
802,660
Chicago Division .a
Oct
819,508
July 1 to Oct 31
3,227,484 2,983,469
82,042
Mississippi Central_b
Oct
77,541
278,033
July l to Oct 31..-.-.
307,977
Oct 4,889,269 4,915,314
Missouri Pacific.b
July 1 to Oct 31
18,494,363 18,162,275
1,009,213
Nashv Chatt A St L.b-.Oct 1,019,241
3,873,282 3,790,626
July 1 to Oct 31.
49,350
Nevada-Cal-Oregon.b
Oct
38,018
196,055
151,712
July 1 to Oct 31
117,864
New Orl Great North.a-Oct
139,005
430,656
July 1 to Oct 31
575,503
S
3
5,224
16,732
3,363
12,278
def.91
6,843
def .520
-Int., Rentals, Ac.—
Current
Previous
Year.
Year.
$
?
def.405
684
2,435
July 1 to Oct 31.
Central New England—
147,936
July 1 to Sept 30
831,761
Jan
1 to Sept 30
533,813
Central of New Jersey
Oct
2,114,762
July 1 to Oct 31
622,428
Chesapeake & Ohio
Oct
July 1 to Oct 31— _. 2,624,174
526,887
Denver & Rio Grande
Oct
2,000,209
July 1 to Oct 31
2,459
4.680
4.384
1,162,318
4,132,820
1,123,389
4,345,056
2,604,702
9,629,214
2,610,597
9,519,530
917,699
6,371,892
718,487
2,765,461
107,733
420,616
River.Oct
Duluth So Sh & Atl--.j.Oct
July 1 to Oct 31
_
_
3,457,162
104,629
587,385
44,285
168,136
Abington & Rockland
Light & Power Co
Jan 1 to Oct 31
Ulster &
53,531
93,923
3,885,230
12,086,614
341,454
1,174,928
7,198
_
..
Elect
Oct
Blackstone Vail Gas & El-Oct
Jan 1 to Oct 31._
Edison Elect (Brockton)
Jan 1 to Oct 31
Fall River Gas Works
Jan 1 to Oct 31.
Houghton Co Elect
Jan
1
to
.Oct
Oct
Lt._Oct
Oct 31
Lowell Elect Lt Corp
Jan 1 to Oct 31
Oct
7,883
50,174
1,080,279
Minn Gen Elect Co
Jan 1 to Oct 31
__Oct
Co__
__Oct
1,030,815
30,774
128,861
33,054
118,193
1,348,510
4,619,416
1,828,047
5,947,780
264,218
941,003
16,932
72,205
47,311
224,603
177,071
297,108
997,829
29,074
116,902
39,482
141,111
205,215
991.375
277,308
5,606
2,478
£6,099
£4,975
17,256
64,401
£9,633
£41,353
£3,256
£36,003
13,614
53,084
£def4,915
13,399
52,983 £dcf48,647
£13,308
3,594
£58,309
14,360
£def5,482
£def2,713
£26,555
£106,240
7,280
15,822
111,913
610,221
4,380
17,019
41,711
167,152
45,398
184,948
11,692
73,664
111,870
467,100
93,302
381,152
742,618
87,383
19,119
77,410
70,568
£10,061
68,417
184,5191
60,937
171,722
18.770
75,574
65,201
£18,048
£6,211 £defl0,400
£12,235 £def32,401
£101,798
£109,021
£109,311
£110,552
INDUSTRIAL COMPANIES.
19,207
97,665
192,194
899,378
342,762
1,989,059
532,752
2,089,559
447,214
1,710,863
90,395
368,010
£108,838
£150,297
£641,189
£123,454
819,556
475.413
2,143,761
1,866,780
£590,637
£338,931
£1,528,559 £2,255,497
4327,182
dl93,657
dl,052,742 dl,308,181
21,528
1,791
70,849
87,920
16,075
68,397
'
July 1 to Sept 30. _
_
Louisv Hend & St L
Oct
July 1 to Oct 31
Mineral Range.
Oct
July 1 to Oct 31
Nevada-Cal-Oregon
Oct
July 1 to Oct 31
New Orl Great Northern .Oct
July 1 to Oct 31 .
N Y Ontario & Western.Oct
July 1 to Oct 31
Pitts Shawmut & North—
July 1 to Sept 30
Oct
Rio Grande Southern
July 1 to Oct 31
..
Delaware—
July 1 to Sept 30.
Jan
1 to Sept 30
120,244
747,657
97,839
388,014
Little Falls & Dolgevillc—
948,481
2,835,276
$
$
593
299,129
761,835
488,553
1,900,643
—Bal. of Net E'ngs.—
Previous
Current
Year.
Year.
640
Bridgeton & Saco
702,628
West.a..Oct
743,446
Oct 31
3,482,661 3,134,981 1,209.718
3,672,549
Northern Pacific.b
Oct 6,368,879 7,793,072 2,628,271 13,396,176
July 1 to Oct 31
25,491,957 28,991,368 10,703,233
157,536
170,279
758,929
Pacific Coast Co
Oct
804,850
765,159
732,267
3,030,650
to
3,142,392
July 1
Oct 31
1,768,244 2,106,747
Pennsylvania Company.bOct 4,933,070 4,944,045
8,149,117
20,202,767 19,011,172 7,478,369
July 1 to Oct 31
Pitts Shawmut & Nor.b—
58,087
56,460
274,638
July 1 to Sept 30.
360,183
6,800
24,876
33,548
Rio Grande Southern.b-Oct
57,974
37,199
85,440
152,609
July 1 to Oct 31
225,096
60,115
46,279
172,227
St Joseph A Grand Isl.b-Oct
185,079
171,769
105,609
615,907
July 1 to Oct 31
644,028
N Y Ontario A
July 1 to
Charges and Surplus.
Interest
Roads.
Year.
deducting taxes.
given are before
123,331
Net Earnings
after deducting taxes,
Net earnings here given are
b Net earnings here
4,671
Previous
164,377
INDUSTRIAL COMPANIES.
_.
Year.
855
4,255
415,187
909,877
962,560
3,758,283
& Delaware.b—
Abington & Rockland Elect
Light & Power Co. b. .Oct
Jan 1 to Oct 31.
Blackstone Vail G&E1.b-Oct
Jan 1 to Oct 31...
Current
378
3,920
July 1 to Sept 30. . ..
Jan
1 to Sept 30
Va.ilalla.b..Oct
July 1 to Oct 31
7,654
11,545
25,124
107,568
7,460
693,051
2,750,756
2,011
8,247
170
N O..Oct
July 1 to Oct 31
235
3,828
Bridgeton & Saco River.Oct
7,115
19,181
July 1 to Oct 31
Central New England _b—
282,525
705,194
July 1 to Sept 30
772,242
911,365
Jan
l to Sept 30
2,259,450 1,975,726
1,009,226
2,459,702
Central of New Jersey. b-Oct 2,418,345
3,981,542
9,182,359
July 1 to Oct 31...... 9,645,744
961,359
Chesapeake & Ohio.b
Oct 2,903,392 2,706,951 4,152,733
11,502,747 10,491,828
July l to Oct 31
3,840,960
8,363,547
Chic Burl A Quincy.b--Oct 8,909,593
30.89G.895 11,601,099
July 1 to Oct 31
32,759,270 30,890,895
2,233,631
7,499,670
Chic A North Western.b-Oct 7,378,280
July 1 to Oct 31
27,750,328 27,238,044 8,770,797
909,618
1,836,202
Delaware & Hudson.b..Oct 1,948,931
Jan 1 to Oct 31
10,848,067 16,001,404 6,737,571
655,460
2,269,460
Denver A Rio Grande .a-Oct 2,284,437
July 1 to Oct 31.
8,792,196 8,438,390 2,752,051
90,266
308,234
Oct
280,052
Duluth So Sh A Atl.b
445,924
July 1 to Oct 31..
1,227,669 1,212,410
Grand Trunk of Canada—
920,255
3,129,646
Oct 3.251,308
Grand Trunk Ry
July 1 to Oct 31
12,075,246 11,847,494 3.434,289
78,107
525,582
542,615
Grand Trunk Western .Oct
362,797
July 1 to Oct 31
1,964,606 2,093,568
51,585
184,441
201,960
Det Gr Hav & Milw..Oct
101,222
687,637
664,764
July 1 to Oct 31
45,988
202,446
203,906
Oct
Canada Atlantic
57,668
731,434
668,657
July 1 to Oct 31
3,397,724
7,253,966
6,579,390
Great Northern. h
Oct
24,542,342 24,943,156 11,058,180
July 1 to Oct 31
315,988
782,298
..Oct
759,569
Hocking Valley.b
July 1 to Oct 31
2,945,970 2,774,562 1,261,821
Alabama Tenn &
619,258
2,785,065
2,241
10,055
of STEAM railroads
Gross Earnings
Current
Previous
Year.
Year.
57,842
195,283
6,271
25,122
Dates.—The table fol¬
lowing shows the gross and net earnings
and of industrials reported this week:
57,193
194,273
589.095
1,757,673
6,440
27,479
5,610
68.224
208,762
736,996
Oct 1,645,111
340
26,000
17,072
207,891
789,254
1,190,628
_Oci
Ulster
42.500
281,000
241,022
1,741,268
6,026,559
393,497
1,084,124
606,669
1,754,648
31
Tombigbee Valley
July 1 to Oct 31 .*
1,638
1,099
307,000
258,094
62,614
1,148,285
3,774,160
1,575,952
12,893,747 11,705,799
6,276
6,643
Tidewater A Western.b-Oct
26,065
28,265
July 1 to Oct 31 . . .
15,700
86,000
42,900
9,760
402,373
Oct 1,174,874
4,079,020
Oct 1,835,894
6,494,847
Georgia Sou & Fla.b-.Oct
July 1 to Oct 31
Texas & Paclfic.bJan 1 to Oct
310
4,837
../
St Louis Southwest .a —
July 1 to Oct 31
SeaboirJ Air Llne.a
July 1 to Oct 31
Southern Railway—
(
$
?
$
5,172
-Net EamingsPrevious
Current
Year.
Year.
-Gross EamingsPrevious
Current
Year.
Year.
Roads.
4,839
1,127,837
Minneapolis & St Louis
Minneapolis St Paul 4SSM..1
Roads.
Increase.
1,132,674
16,408
Mineral Range
Net
312,100
293,514
237,756
146,655
263,644
479,699
583,000
25,236
42,651
54,781
68,283
147,976
262,006
478,600
625,500
22,583
Iowa Central
Kansas City Mexico
Net increase
449,500
2,682,000
303,274
227.368
International'& Great Northern
Interoceanic of Mexico
week last year.
1909.
1910.
of November.
Chicago Division
Missouri Pacific
Mobile & Ohio
National Railways of
1569
THE CHRONICLE
L>ec. 10 1910.
__
Sierra Pacific El
d These figures are after allowing
exchange.
The sum of $10,000 is
and
x
803
592
7,511
30,238
281,034
4,770
42,293
4,285
36,353
4,553
44,081
4,237
46,177
32,351
316,002
6,020
4,632
29,421
278,983
3,651
33,370
1,772
22,922
.
4,265
41,671
4,145
44,495
31,561
302,880
5,707
3,367
19,081
14,640
146,990
8,572
68,065
14,691
119,616
8,604
62,219
12,486
100,200
41,396
312,438
29,342
for other income and for
ueducted every month
placed to the credit of the renewal fund.
for other income received.
2,562
17,006
16,527
96,320
10,157
60,085
20,425
123,031
7,377
56,496
12,321
78,123
25,281
199,726
20,646
discount and
from surplus
After allowing
ELECTRIC
RAILWAY AND TRACTION
Latest Gross
Name of
Road.
Week or
Month.
Earnings.
Current
Previous
Year.
Year.
$
October
Ry October
Bangor Ry & Elec Co October
Baton Rouge Elec Co October
October
Binghamton Ry
Blrm’ham Ry Lt & P July
Brockt’n & Ply St Ry October
American Rys Co.
c Au Elgin & Chic
...
Bklyn Rap Tran Sys.
Cape Breton Elec Co.
Carollna Pow & Lt Co
Cent Park N & E Rlv
Central Penn Trac. ..
August
October
October
__
__
339,378
154,359
49,593
9,598
..
...
..
..
August
October
Chattanooga Ry & Lt October
September
Chicago Rys Co
Cleve Palnesv & East October
...
..
..
..
28,462
216,505
9,797
1972,238
30,495
29,164
58,425
68,635
77,993
1175,420
31,818
COMPANIES.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
$
S
$
310,419 3,279,158 3.025,511
137,662 1,415.845 1.296.068
444.663
471,776
49,173
79,686
89,425
8,937
27,788
183,187 1,496,110 1.276,482
114,155
103,927
10.253
1936,237 14,573,476 13.707,505
215,157
247,558
27.253
180,609
201,676
24,271
391.643
422,480
53,469
691,474
627,520
62,773
642,355
728,040
67,570
1066,056 9,014.329 8,188,754
301,199
29,467
271,673
1570
THE CHRONICLE
Latest Gross Earnings.
Name of
Road.
Week
or
Month.
Previous
Year.
$
S
160,020
119,804
4th wk Nov
October
October
October
October
__
209,592
__
..
Galv-Hous Elect Co October
Grand Rapids Ry Co. October
Havana Electric Ry. Wk Dec
Honolulu Rapid Trai
& Land Co
October
October
__
_.
_
_
_.
August
Metropolitan St (Rec) August
October
October
October
__
_.
__
October
October
_.
__
N Y City Interbor..
August
N Y & Long Island T.
August
N Y & Queens County August
Norf & Portsm Tr Co October
North Ohio Trac & Lt October
North Texas Elec Co. October
Northwest Elec Co_. November.
Ocean Electric
August
Paducah Tr &, Lt Co. October
Pensacola Electric Co October
Port(Ore)Ry,L&P Co October
Puget Sound Elec Co. October
Richmond Lt & RR. July
Rio de Janeiro Tram
Light & Power Co. October
__
__
_
_
..
_
_
._
_.
__
November.
October
October
October
_
_
_
_
..
August
August
...
October
_.
July
October
.
_
August
October
October
Twin City Rap Tran. 4th wk Nov
Underground El Ry
of London—
Three tube llDes
Wk Dec 3
Metropolitan Dlst Wk Dec 3
United Tramways. Wk Dec 3
Union (Rec)
August
UnlonRy,G&ECo(Ill) October
United RRs of San Fi October
Westches Elec (Rec). August
Whatcom Co Rv & Lt
Octoberl
Yonkers RR (Rec)__ August
_
_
_
_
__
_
_
_
__
These figures
are
515,504
504,497
485,222
387,874
113,476
91,267
102,014
82,519
41,510
43,167
39,118
36,375
26,543
138,433
455,137
26,192
186,862
529,291
915,702
1189,428
48,367
41,567
693,420 642,238
105,075
94,255
24,226
24,625
1132,410 1072,661
406,919 376,355
89,028
77,696
386,688 354,007
161,567 148,992
533,764 527,180
20,534
15,503
40,319
39,307
111,065
98,936
166,776 156,540
208,342 184,815
154,007 135,697
187,654 178,938
24,147
26,764
20,949
18,924
23,650
21,027
503,485 426,708
161,760 170,199
47,797
42,658
931,301
7,306,320
420,645
8,527,509
411,023
906,00(
810,837
1,266,086
929,909
1,079,612
947,928
1,994,408
373,675
263,642
341,989
268,968
1,656,179
4,404,389
9,149,929
10,069,685
3,870,153
1,195,575
2,021,612
88,482
_223’114
4,609,974
1,607,034
195,133
_
..
.
550~t467
37,082
50,759
278,686
239,375
379,721
332.977
2,378,817
2,437,467
182,235
3,575,659
172,331
6,879,281
£616,360
£518,675
£300,876
1,488,773
2,421,889
6,337,515
352,450
334,910
Jan
1
to
Oct 31...
Columbus Elec Co.b
.Oct
Commonw’ith Power Ry & Lt
Co (Grand Rapids) .b.Oct
Jan 1 to Oct 31
114,155
30,495
247,558
27,253
215,157
67,570
642,355
425,742
4,081,714
El Paso Elec Co.b
.Oct
55,172
Jan 1 to Oct 31.
515 504
Galv-Hous Elec Co.b.. .Oct
113,476
Jan 1 to Oct 31.
1,079,612
Houghton Co Trac Co.b .Oct
26,192
Jan 1 to Oct 31..
263,642
Jacksonville Elec Co.b...Oct
48,367
Jan 1 to Oto 31__
471,781
New Orl Ry & Lt.a
.Oct
533,764
Jan 1 to Oct 31
5,162,783
Nor Texas Elec Co.b--. .Oct
154,007
Jan 1 to Oct 31...
1,195.575
Paducah Tr & Lt Co.b...Oct
20,949
_
__
Pensacola Elec Co.b
.Oct
23,650
Oct 31...
223,114
Poughk’sle C’y & Wap Falls.b—
July 1 to Sept 30
48,003
Puget Sound El Co.b... Oct
161.760
Jan 1 to Oot 31...
1,607,034
Roch Syrac & East.b—
July 1 to Sept 30...
199,745
Jan 1
to
StJos(Mo)Ry,Lt,Ht&P
bNov
Jan 1 to Nov 30
Savannah Elect Co.b... Oct
Jan 1 to Oct 31...
Seattle Elect Co.b
Oct
Tampa Elect Co.b
Jan 1
to
Oct 31...
Oct
87,644
942,007
53,794
521,977
469,033
43,254
502,459
Toledo Rys & Light Co__ Oct
258,820
Jan 1 to Oct 31...
*,437,467
Jan
1
33,053
380,368
3,560,631
58,347
485,222
102,014
996,619
26,543
268,968
41,567
392,154
527,180
4,972,849
135,697
1,045,816
18,924
21,027
205,077
43,779
170,199
1,581,086
114,087
82,296
887,466
50,618
502,436
544,077
50,759
487,013
239,375
2,220,811
-Net
3,770
3,461
32,298
17,049
115,788
40,402
357,830
30,038
201,369
1,977,648
22,253
Jan 1 to Oct 31
El Paso Elect Co____
..Oct
Jan 1 to Oct 31
—
1,818', 98 7
Jacksonville Elect Co. ..Oct
205",077
3,974,355
1,581,086
189,996
1,981,417
502.436
“56V,896
59,067
134,061
146.097
487,013
2,008,166
2,220,811
3,190,268
6,346,776
£607;830
£475,369
£289,338
1,355,726
2,282,987
6,190,805
288,795
330,862
Previous
Year.
$
3,325
23,335
2,661
34,510
13,206
85,718
29,198
269,511
14,417
187,072
1,731,615
22,635
189 050
47 539
37,362
407,312
13,473
124,198
19,430
168,120
200,267
1,800,109
1,935,122
82,884
559,832
9,202
10,072
91,714
23,549
60,681
564,354 j
114,493
43,683
439,150
18,276
181,105
229 393
19,256
223,692
95,959
921,041
Oct 31.
1,045,816
1,886,791
86,979
216,908
421,777
13,373
125,264
21,279
214,912
210,438
to
Oct 31
Houghton Co Trac C( >__Oct
Eamings-
31,561
to
Commonwealth Pow, Ry &
Lt (Grand Rapids) ..Oct
Jan
1
Jan
1
Jan
1
71,102
471,209
7.160
8,648
87,827
18,071
59,609
536,405
59,878
39.962
427,435
17,645
176,284
217,877
23,968
201,987
109,655
957,042
to Oct
to
31
—
Oct 31.
to
Oct 31.
Northern Texas Elec C b.Oct
Jan 1 to Oct 31.
Paducah Tr & Lt Co.. ..Oct
Pensacola Elect Co... ..Oct
1
to
Oct
31.
Pough’sie C’y & Wapp Falls—
July 1 to Oct 31.
Puget Sound El Co_... ..Oct
Jan 1 to Oct 31.
Roch Syrac & East—
July 1 to Sept 30.
StJos(Mo) Ry.Lt.HtdsI
Jan 1 to Nov 30.
Jan
1
16,289
10,122
144,641
1,085,068
370,492
3,160,870
17,478
136,470
35,672
330,862
10,529
129,977
1,116,050
407,656
3,385,267
16,064
143,566
are after deducting taxes,
are before deducting taxes.
Jan
1
o<
Oct 31.
..Oct
..Oct
..Oct
1
to
Oct 31.
Troy & New EnglandJuly 1 to Sept 30.
Union Ry Gas & El (II ) .Oct
Jan 1
to
Oct 31.
—Int., Rent als, &c.—
Current
Previous
Year.
Year.
5
$
1,944
1,951
1,578
1,756
17,013
18,103
6 161
6,199
55,071
55,113
23,700
22,218
231,601
215,281
17,932
12,915
Bal. Of Net Earns.
Current
Previous
Year.
Year.
$
$
1,826
1,374
883
15,285
10,888
60,717
16,702
123,229
12,106
122,033
1,231,698
118 735
79 336
1,183,301
745,950
8,224
83,282
8,420
80,417
14,029
133,626
25,565
235,805
214,710
22,485
6,637
63,998
6,215
60,003
9,346
92,502
9,452
93,062
20,290
16,189
194 745
170,873
6,625
7,170
5,105
50,345
4,474
43 527
905
16,407
7,007
30,605
6.980
54,230
1,502
68,337
548.314
14,215
108,633
14,877
192,602
7,258
64,195
21,974
185,972
6,736
61,266
11,933
122,410
62,594
365.087
54,913
300,336
2,032
4,967
41,369
4,174
44,300
9,978
75,058
535
9.225
9,670
50.018
49.777
472,037
*14,354
10,863
56,041
9,832
64,368
58,266
21,608
235,210
24,959
20,375
188,786
1,612
18,354
192,225
508,313
..Oct
to
Seattle Elect Co..
Tampa Elect Co...
Jan 1 to Oct
89,534
23,308
250,364
18,219
178,427
109,913
6,130
51,429
78,452
769,162
2,823
66,845
660,301
232,654
United Rys of St L
..Oct
Jan 1 to Oct 31.
2,333,364
Whatcom Co Ry & LI __Oct
9,229
Jan 1 to Oct 31.
87,936
*
Current
Year.
$
1
Galv-Houston Elec Co•_ .Oct
’
296,474
258,820
77,993
728,940
46,962
Jan
..
226,817
656,371
"
72,240
149,597
149,793
502,459
103,927
-Oct
1,415,675
4,972,849
110.935
887,466
-Gross EamingsCurrent
Previous
Year.
Year.
$
s
9,598
8 937
89,425
79,686
9,797
10,253
-
1.503.354
5,162,783
146,362
6,252,690
59,107
-
..Oct
942,007
2,406,201
521,977
35,620
-
9,156,290
3.493,240
783,825
3,293,772
82,296
205,146
£13,405
£10,738
£5,044
189,321
266,263
733,766
51,103
35,672
Oct 31
9,385,226
3,863,695
896,007
3,712,797
87,644
£14,040
£11,504
£4,745
212,511
284,29?
670,295
56,584
to
ttanooga Ry & Lt. ...Oct
8,999,034
13,651
1
Breton Elect Co.
Jan
50,618
544,077
80,683
9,817
.Oct
..
Jan
392,154
645,195
255,628
53,794
469,033
83,582
10,799
15,606
41,446
43,254
Roads.
929,316
130,921
2,045", 74 8
-Net EamingsPrevious
Year.
Year.
%
5
Interest Charges and Surplus.
5,697,049
243,107
742,763
LXXXX1
Current
266,263
2,282,987
1,035,624
9,230,939
Oct 31
471,781
6,189,534
1,018,739
140,872
columns, and the latest statement of
this kind will be found in the
issue of Nov. 26 1910.
The
next will appear in the issue of
Dec. 24 1910.
,
to
Net earnings here given
b Net earnings here
given
e
Railway Net Earnings.—The following table gives
the returns of ELECTRIC
railway gross and net earnings
reported this week. A full detailed
statement, including all
roads from which
monthly returns can be obtained, is given
once a month in these
Chattanooga Ry & Lt.b .Oct
1
...Oct
Electric
Baton Rouge El Co.b._ .Oct
Jan 1 to Oct 31__
Brock & Plym St Ry.b -Oct
Jan 1 to Oct 31..
Cape Breton El Co.b.. .Oct
Jan 1 to Oct 31.
Jan
1,868,302
for consolidated
company.
Roads.
16,375
284,293
2,421,889
United Rys of St L.a
Oct 1,041,837
Jan 1 to Oct 31....__
9.601,041
Whatcom Co Ry <fc Lt.b Oct
35,620
Jan 1 to Oct 31
334,910
Union Ry Gas & El (111) b Oct
1,161,156
859,684
996,619
858,541
965,265
__
c
58,347
41,433
122,806
120,563
__
October
October
October
_
Troy & New England.b—
July 1 to Sept 30
1,025,421
1,672,853
131,360
129,238
4
August
September
August
August
St Joseph (Mo) Ry Lt
Heat & Power Co.
Sao Paulo Tr Lt & P_
Savannah Electric Co
Seattle Electric Co
Second Avenue (Rec)
Southern Boulevard.
Sou Wisconsin Ry Co
Staten Isl Midland
Tampa Electric Co__
Third Avenue (Rec).
Toledo Rys & Lt Co.
Toronto Ry Co
Roads.
1.966.354
58,504
August
MJlw El Ry & Lt Co.
Mllw Lt Ht & Tr Co.
Montreal Street Ry
Nashville Ry & Lig__
New Orleans Ry & Lt
1,027,223
1,037,613
Gsoss Earnings—
Current
Previous
a
October
Long: Island Electric
Previous
Year.
107,570
197,701
56,506
87,235
191,775
55,172
_
..
Current
Year.
166,357
206,174
54,036
95,278
August *
El Paso Electric.
Jan. 1 to latest date.
Current
Year.
August
Dallas Electric Corp.
September
[Vot,.
*8,401
17 620
57
172,871
102,169
25
2,678
119,480
13,126
172,263
*17.784
*154,558
3,413
115,708
19,344
156,180
*34,285
*231,668
4,624
45,807
75,616
727,818
*
2,734
52,739
643,318
232,267
2,333,899
8,469
82,758
*7,437
*7,835
77,796
77,238
424,767
472,732
*141,563
*179,032
*861,879 *1,086,081
8,249
7,595
48,534
60,808
After allownlg for other Income
received.
ANNUAL REPORTS,
Annual Reports.—An index to annual
reports of steam
railroads, street railways and miscellaneous
companies which
have been published during the
preceding month will be
given on the last Saturday of each month. This index will
not include reports in the issue of the
“Chronicle” in which
it is published.
The latest index will be found in the issue
of Nov. 26.
The next will appear in that of Dec. 31.
Massachusetts Electric Companies, Boston.
{Report for Fiscal Year ending Sept. 30 1910.)
Pres. Gordon Abbott, Boston, Dec.
1, wrote in substance:
General Results of Operating Cos.—The
year shows an increase in gross
of $508,593, or 6.32%, with an Increase in
net of $281,887.
Of this, $52,975 was absorbed In dividends on the
Increased Issue of
operating companies, leaving an increase In net divisible pref. shares of the
income applicable
to the common shares of those
companies of $228,913.
This showing en¬
abled the Old Colony St. Ry. Co. to raise its rate
of dividend from 5% to
6%,
the rate on the Boston & Northern St.
Ry.
Co.
remaining the same, 5%.
New Stock.—During the year the B. & N.
St. Ry. Co. sold 5,883 shares
of pref. stock and the Old Colony .St.
Ry. Co. 4,041 shares, a total of 9,924
shares, which netted the companies $1,141,260.
Bonds.—No bonds were sold by either of the
companies during the year,
but they have at the present time
authority to issue $1,609,000 bonds,
and these will be sold as the market offers a
favorable
opportunity. Many
of these bonds have come Into the
treasury of the operating companies In
exchange for bonds of the old underlying companies
which
matured and
were paid during the year from cash in
the treasury, refunding bonds
being
Issued in their place.
To these payments is due the
floating debt of $500,000 which appears in the consolidated
balance sheet as due to others than
your company.
It is expected that early in 1911 the
operating companies
will obtain the right to issue further bonds
on account of
capital expendi¬
tures during the past year.
Expenditures upon the Properties, Aggregating $1,610,691,
During Past Year.
Track construction
$186,726 Power stations
$146,288
Track reconstruction
538,084 Land and buildings
154,770
Cars and electric equip.... 382,240 Sundry
equipment
9,294
Overhead lines and feeders
136,207 Hyde Park power station._
During the year 8.1 miles of new track have been constructed and57,083
29H
miles of track reconstructed.
Work on 4.3
miles of new track construction
and 14.6 miles of track reconstruction in
progress will be finished before
Jan. 1 1911; 107 miles of feeder and transmission cable
were strung; 5.8
miles of underground conduit were
completed, 1.4 miles being in conrse of
construction.
Forty-four 28-foot box cars, thirty-two 12-bench open
cars,
eight 14-benoh open cars, three 30-foot express cars and six
service cars
were purchased, and work *s in progress on three
30-foot express cars and
four vacuum cleaners.
The installation of the
800-kilowatt
generator at Lowell has been completed, the Installation of alternating
the 1,200kilowatt generator at Lawrence practically so and a
750-kilowatt rotary
converter installed at Fall River.
New car houses built and
bui'ding and
additions and alterations will Increase the
capacity of car houses by 270
cars.
A paint shop has been erected at Fall River.
In addition to the money spent as above noted
for construction and re¬
construction, the cost of maintenance charged to operation
reached a
higher figure this year, both in actual expenditure and In
percentage of
gross earnings, than ever before In the
history of the
properties.
Deo. 10
with a law passed in 1909
has been changed so that it
30. For purposes of com¬
parison the subjoined tables give the operating results for the 12 months
ending Sept. 30.
Discount on Bonds.—The last Legislature passed an Act enabling street
railway companies to issue bonds to cover the discount on bonds previously
sold.
Under this Act authority was given after the expiration of the last
fiscal year for the issue of an aggregate of $517,000 bonds of the Bos. & Nor.
Old
and
Col. St. Ry. companies, it being stipulated that annual sinking
fund payments be made to extinguish the same before maturity.
For this
reason no portion of the discount on bonds appearing in the subjoined bal¬
ance sheet has been charged oil, nor will any such charges be made in future,
the sinking fund paj^ments taking their place.
Wages.—The agreement with conductors and motormen having expired
Oct. 1, a new one took its place, running for four years, and containing pro¬
visions for an increase in wages of between 5 and 6%.
The result will be
a considerable increase In cost of operation.
Prospects for Payment of Accumulated Dividends.—Dividends at the full
rate of 4% on the pref. shares having been resumed, inquiries have naturally
been made as to the payment or funding of the accrued and unpaid divi¬
dends on those shares.
To accomplish this it Is obvious that an Income is
required which will suffice not only to pay the 4% dividend on the existing
also
to
pref. shares, but
pav dividends on any securities issued for the pur¬
pose of funding the accrued dividends, which now amount to $3,648,938.
Your trustees are of opinion that It would not be wise to attempt to carry
out any funding plan until sufficient time has elapsed to establish still
further the earning power of the operating companies.
STREET
OF
CON SOLI DATED INCOME ACCOUNT OF OPERATING
Fiscal Year of Operating Cos.—In compliance
the fiscal year of street railways in this State
now ends, beginning with this year, on June
Original Sugar Trust and Its
ELECTRIC LIGHT COMPANIES.
RAILWAY AND
1908-09.
1907-08.
1906-07.
$8,052,356
5,148,397
S7,809,010
5,001,517
$7,758,511
5,000,652
1,792,937
$2,903,959
1,778,129
$2,807,493
1,784,438
$2,757,859
1,702,623
.$1,407,717
1,130,551
$1,125,830
1,000,464
$1,023,055
$1,055,236
880,773
880,773
$277,156
5125,366
$142,282
$174,463
1909-10.
.$8,560,948
5,360,295
.
.
—
.$3,200,654
Net earnings.
Interest, rental, taxes.Divisible income
Dividends
_
-
Balance.....
Co. from 1891 to 1892 of not only the title of the aforesaid
other properties as well, giving the company at that
of the output; also subsequent acquisitions to and in¬
cluding 1897, all of which matters are separately considered In the complaint.
Sugar Trust, Formed in 1337 with $60,000,000 Trust Cert.—(Declared
Illegal in 1890.—V. 59, p. 905)—Control of 90% of Output.
Daily Lbs.
Melting, mantled.
Dis(a) Plants acquired in 1887 under trust deed.
trust properties, but
time control of 98%
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
aggregating
deprecia¬
CONSOLIDATED BALANCE SHEET OF ALL STREET RY. AND ELECRIC
LIGHT COMPANIES CONTROLLED BY THE MASS. ELECTRIC
COMPANIES FOR THE YEAR ENDING SEPT. 30.
1910.
1909.
1910.
1909
Liabilities—
$
$
$
$
stock
19,042,900 19,042,900
Property
43,200,705 41,869,288 Common
Preferred
1,096,200
stock
2,088,600
Cash
628,757 1,096,670
18,434,000 19,453,000
121,627 Funded debt
Accts. receivable-.
128,083
Notes with Mass.
84,640
Coupon deposits..
80,597
Electric Cos
3,270,000 2,575,000
Sinking & redemp¬
500,000
70,730 Notes payable..
tion funds
54,548
acc’ts.
45,225 Vouchers,
Accts. in suspense.
131,845
287,912
344,768
salaries, &c
Prepaid taxes, in84,640
80,598
171,708 Coup’s outstand’g.
sur. and rentals.
110,027
654,166
674,182
41,708 Int.,rentals&taxes.
73,444
Lease accounts.,!.
937,770
Divs.deci’d unpaid
562,662
Materials and sup¬
271,425
231,411
775,374 Accident, &c..funds
plies
769,316
3,862
1,206
X533.093 Depr.fd.H.P.El.L.
Discount on bonds X532.845
77,170
Replace’t suspense
109,620
Prem. on pref. stk.
258,480
216,3^8
Surplus
221,360
x
To be written oil during
life of bonds—one-fiftieth each year.
MASSACHUSETTS ELECTRIC
COMPANIES—INCOME ACCOUNT
YEARS ENDING
SEPT. 30.
1908-09.
1909-10.
IncomeDlvs. on stocks
45,710,167 44,810,063
Total
45,710,167 44,810,063
1907-08.
1906-07.
$1,040,029
172,830
$967,630
127,169
$880,841
107,962
$880,837
82,004
$1,212,859
Total Income..
Expenses—
$13,917
Salaries—General officers
10,726
Legal and miscellaneous181,537
Interest
$1,094,799
$988,803
$962,841
$11,000
$11,000
Int.
on
owned
notes, &c
Dlvs. on
$13,250
6,145
157,500
pref. stocks. (3 H %)770,903 (2 y>) 513,935
MASSACHUSETTS ELECTRIC
Assets—
1910.
$
$
33,360,935
6,250,000
38,504
3,270,000
7,079
562,614
4,375,000
Total
—
$176,896
$811,907
1910.
40,509
2,575,000
2,890
937,690
1909.
$
30
Liabilities—
$
Preferred shares. .20,557,400 20,557,400
Common shares.-.14,293,100 14,293,100
Coupon notes
3,700,000 3,500,000
500
Vouchers payable.
612
Accrued interest on
39.375
coupon notes
41,625
2,891
Dlv.&coup. uncl’m.
7,079
2,898,758
Profit & loss, surp_*3,015,926
41,615,742 41,292,024
Total
41,615,742 41.292,024
$53,712 profit from sale of stocks and deducting
notes purchased, $5,821, and discount on coupon notes sold,
p. 1328, 1254.
*
$174,130
$788,711
COS.—GENERAL BALANCE SHEET SEPT.
in treasury
31,487,545
Stock dep. to sec.
coupon notes
5,630
157,500.
—
1909.
Sundry stocks, &c
Cash
Notes rec.oper.cos.
Cash for coup., &c.
Dlvs. receivable..
$690,830
$403,969
$977,083
$235,776
Total
Balance, surplus
8,396
157,500
After adding
premium on coupon
$166,500.—V. 91,
Refining Co.
{Data from Bill of Complaint in Government Suit.)
The bill of complaint in the suit which was recently
brought against the company by the U. S. ^Government in
theJJ. S. Court for the Southern District of N. Y., 2d Cir¬
cuit, for alleged violation of the Anti-Trust Act approved
July 2 1890, brings together considerable information which,
though not wholly new or possibly free from error, has
sufficient statistical value to deserve of preservation in
condensed form in these columns.
It should be understood,
however, that it is only a resume of the statistical data that
we would endeavor to cover, and not all the main points on
American Sugar
which the Government bases its argument.
While the Government alleges that the company
allied interests control about 72% of the total
of refined sugar in the country not produced frum
about 70% of the total refined sugar of every kind
in the country, the company itself claims that it
and
consumption
beets and
consumed
has, in¬
cluding its beet-sugar interest, only about 51% of the coun¬
try’s sugar trade. (See “Chronicle” of Dec. 3, p. 1514.)
The bill of complaint was prepared by Henry A. Wise and
James R. Knapp, respectively U. S. Attorney and Assistant
U. S. Attorney for the Southern District of N. Y., acting
under the direction of George W. Wickersham, AttorneyGeneral for the United States.
of
Co.," holding the
of the
certificates,
American
Sugar Refining
Note.—The surplus brought forward Sept. 30 1909 was $216,398, making,
with the surplus for the year ending Sept. 30 1910, $277,156, a total of
$493,554, from which were made the following deductions,
$272,194, viz.: Reconstruction, $178,001; premium on bonds redeemed,
$1 ,048; adjustment of accounts, $3,153; replacement, $82,991;
tion, $7,000; leaving a surplts as of Sept. 30 1910 of $221,360.
Total
Successor, the American Sugar Refineries.—
The following tables, two in number, cover (1) the formation in 1887
the original sugar “trust" known as “Sugar Refineries
stocks of companies that controlled 90% of the refined sugar output
country, a pool that Involved the issuance of $50,000,000 trust
and that in 1890 was adjudged illegal; and <2) the merger in the
„
Earnings
Expenses
1571
THE CHRONICLE
1910.]
(b)
Havemejmr Sugar Ref. Co., (a) Brooklyn
(b) Jersey City
F. O. Matthiessen & Weichers Sugar Refining Co.,
De Castro & Donner Sugar Refining Co.. Bklyn__
Moiler, Sierclc & Co., Brooklyn, N. Y
Oxnard Brothers, Brooklyn, N. Y
North River Sugar Refining Co., New York
Brooklyn Sugar Refining Co., Brooklyn, N. Y
Havemeyers & Elder, Brooklyn, N. Y
Dick & Meyer, Brooklyn, N. Y
....
Standard Sugar Refinery, Boston
Continental Sugar Refinery, Boston
Bay State Sugar Refinery Co., Boston
Boston Sugar Refining Co., Boston
Forest City Sugar Refining Co., Portland, Me..
St. Louis Sugar Refining Co., St. Louis, Mo
Planters’ Sugar Refining Co., New Orleans
Louisiana Sugar Refining Co., New Orleans
2,000,000
1889
2,000,0001 Consol.
in 1887
1889
1887
2,000,000/
1,200,000
200,000
200,000
200,000
1887
1887
1,200,0001 Consol.
3,000,000/ In 1887
200,000
1887
2,000,0001 Consol.
400,000| in 1887
200,000
1887
1,000,000
1887
250,000
1887
1887
250,0001 Consol.
2,000,000/ in 1887
1,800,000
1888 and in
Purchased by Havemeyers & Elder in
1891 leased to Western Sugar Ref. Co. (y2 owned
Amer. Sugar Refining Co. of N. J.)—
Am. Sugar Ref. Co. of Cal.; closed 1891; 1906
The “Sugar Refineries Co.,”
it will be
by
burned. 1,000,000
1906
observed, concentrated Its
operations at Havemeyers & Elder refinery in Brooklyn, Matthiessen &
Weichers refinery in J. C., Standard Sugar Refinery in Boston and Louisiana
Sugar Refinery at New Orleans, while the Am. Sugar Refinery Co. of Cal.
was held by a friendly interest.
The concerns which still remained inde¬
pendent, with their daily melting capacity, were: Nash, Spaulding & Co.,
Boston. 200,000 lbs.; Delaware Sugar House, Phila., 200,000 lbs.; E. C.
Knight & Co., Phila., 500,000 lbs.; Harrison, Frazier & Co., Phila., 2,200,000 lbs.; California Sugar Refinery, San Fran., 1,000,000 lbs.; total
4,100,000 out of the grand total of 23,400,000 lbs.
Acquisitions by American Sugar Ref. Co. from 1891 to 1897—Stock Given
as
Consideration (H Pref.)—(Compare V. 51, p. 609).
of 98% of Producing Capacity in 1891-92.
(a) Acquisitions
Stock
Issued.
Refineries’ Co.—
Standard Sugar Refinery, Boston
1550,000,000
Havemeyers ,& Elder Refinery, Bklyn)
(trust
&
Ref.,
Jersey
City.
| ctfs.)
Matth.
Weichers
Louisiana Sugar Ref., New Orleans.-J
Havemeyers & Elder Refinery, San Francisco (closed 1891)
California Sugar Ref., San Francisco
300,000
Dela. Sugar House, Phila. (closed 1896)-.
(?)
E. C. Knight & Co., Phila. (closed 1896).
(?)
Franklin Sug. Ref. Co.,Phila.(closed 1897)
5,000,000
SpreckelsSug. Ref. Co., Phila. (built 1891) 5,000,000
The Sugar
Total
Daily Sold to Consider’n
Milling A.S.R.
Stock
Cap. Lbs.
Co.
(Hpref.).
(2,000,0001
{5,000,000)1891 $50,000,000
12,000,000]
„
(2,500,000)
(Leased to West’n
1,000,0001 Sug. Ref. Co. (K
1,000,0001 owned by Am.Co.)
200,000 1892
472,500
500,000 1892
2.050,000
2,000,000 1892 10,000,000
2,000,000 1892 10,000,0G0
.18,200,000
1897—Purchased by Am. Sug. Ref. Co. and Dismantled.
-
-
(b) Built 1892 and
Capital
Stock.
Daily
Melting Cap.
Dale Purchased.
$1,300,000 600,000 (lbs.)
1891-92
2,000,000 Not stated
Sept. 4 1897
If we include the San Francisco refineries acquired under lease by the
Western Sugar Refineries Co. (one-half of whose stock was acquired by the
Am. Sugar Ref. Co. of N.J., as below stated, the only refinery not Included
In the merger of 1891-92 is shown to have been the Boston plant (dally
melting capacity 400,000 lbs.) owned by Nash, Spaulding & Co. and still
independent, being now known as the Revere Sugar Co.
Western Sugar Refining Co.—In March 1891, in order to eliminate com¬
petition between California Sugar Refinery and Havemeyers & Elder
(owners of San Francisco refinery of former Am. Sug Ref. Co. of California),
which had resulted In severe financial loss to the California Sufcar Refinery,
the Spreckels, who owned the capital stock of the California Sugar Refinery,
entered into an agreement with Havemeyers & Elder which resulted In the
incorporation of Western Sugar Refining Co. March 26 1891, under
laws of California, with $2,000,000 capital stock, one-half of which
was issued to Havemeyers & Elder and the other half to said Claus, John D.
and Adolph B. Spreckels.
Thereupon the factories of California Sugar
Refinery and Havemeyers & Elder, at San Francisco, were leased to West¬
ern Sugar Refining Co. for a term of ten years.
Shortly thereafter Have¬
Baltimore (Md.) Sugar Refining Co
U. S. Sugar Refining Co., Camden, N.
meyers & Elder sold their
of Western Sugar Refining
J
..
factory and their one-half of
the capital stock
which
Co. to the American Sugar Refining Co.,
company has ever since held and voted one-hall of the capital stock of
Western Sugar Refining Co., and owned the factory until it was destroyed
by fire In 1906; said factory until then was continuously leased to Western
Sugar Refining Co. and by it kept closed.
The other half of the capital
stock of Western Sugar Refining Co. has at all times been owned and held
by Claus, John D. and Adolph B. Spreckels, or the latter two; and the lease
of the Cal. Sugar Refinery to West. Sug. Ref. Co. has from time to time
been renewed, to and including the year 1917, and the factory Is now being
operated by the latter company under such lease*
National Sugar Ref. Co. and Other Allied Cane Sugar Companies.
National Sugar Refining Co. of New Jersey.—The New York Sugar Re¬
fining Co.,
incorporated March 31 1897; the National Sugar Refining
Co.,
Incorporated Sept. 7 1892, and the Mollenhauer Sugar Refining Co., in¬
corporated Sept. 26 1891, were in May 1900 independent companies operat¬
ing their respective factories when on the basis indicated in the following
table all their outstanding securities were acquired by a new company, the
National Refinery Co. of N. J. (V. 70, 1151):
Outstanding Stock and Daily Melting Capacity of Companies Merged in 1900 in Na¬
tional Refining Co. o N. J.—Amount of National Pref. Given in Exchange.
Date Daily Capac.
Nat. Ref.
Incorp. (Lbs.).
Capital Out.
Pref. in Ex.
Factory—
N. Y. Sugar Refining Co
1897 2,000,000/
Stock S600,00Q\ 3,000,000
1 3% bonds $2,400,000/
Moll.S.Ref.Co.(closed Aug.’91) 1892 1,000,000
Stock $1,000,000 3,000,000
National Sugar Refining Co. .1891
1,400,000
Stock $1,000,000 2,225,000
The said National Sugar Refining Co. of N. J. was Incorporated with
$20,000,000 of authorized capital stock, $10,000,000 thereof being preferred
and thereupon acquired the entire capital stock of the Nat. Sugar Refining
Co., Mollenhauer Sugar Refining Co. and the N. Y. Sugar Refining Co.
and the entire $2,400,000 3% bond issue of the last-named company, all of
which have ever since been held by the National Sugar Refining Co. of
N. J.
[The merger agreement
for cancellation of
Of the capital stock of the new company, $8,250,000 preferred was
upon distributed to the stockholders of
N. Y. Sugar Ref. Co. being surrendered along with the
and
entire $10,000,000 of common stock was delivered to Henry O. Havemeyer
for no consideration.
For the $300,000 of stock of Mollenhauer Sugar Ref. Co. held by It the
Am. Sugar Refining Co. received $900,000 pref. stook
the Nat.
provided
the bonds.—Ed.]
there¬
the old companies (the bonds of the
stock);
the
of
Sugar
Refining Co. of N. J., and thereafter it purchased more of said shares until
Deo. 31 1900, when it held 51,280 shares of such preferred stock, which It
It has ever since held and voted.
The $10,000,000 common stock was acquired by Mr. Havemeyer for
himself and associates and Mr. Havemeyer thereupon placed his 76,000
shares
(afterwards Increased to $9,300,000)
in a voting trust for the
Since the death of Mr. Havemeyer the executors
benefit of his children.
and trustees under his will have been the holders of [93,000 shares] such
stook, and at all times James H. Post has voted the same, so that
there has been no competition with the Am. Sugar Refining Co.
The
directors are:
James H. Post (Pres.), Thomas A. Howell, Fred. H. Howell,
Frederick D. Mollenhauer (Treas.), Geo. R. Bunker (Sec.), H. F. Mollen-
1572
THE
CHRONICLE
hauer, J. Henry Dick and Nathaniel Tooker.
In August 1901 the Mollenhauer sugar factory was
permanently closed.
McCahan Sugar Ref. Go.—The W. J.
McCahan Sugar Refining Co. was
incorp. Oct. 13 1892* with an authorized capital stock
oi $2,000,000, and
since 1893 has operated its
refinery in Philadelphia.
Daily melting ca¬
pacity in May 1000, 1,250,000 lbs.
In June 1900 the National Sugar Re¬
fining Co. o; N. J. purchased 25% of the authorized
capital stock and now
holds the same.
Tne directors are W. J. McCahan
(Pres.), R. S. Pomeroy
(Treas.), James M. McCahan (Manager),
Henry C. Butcher, Thomas
Cooper, Wm. H. Arrott and Thos C. McCahan.
[Pres. McCahan is quoted as saying:
“The company is an independent
stock company chartered under the laws of
Pennsylvania.
It is absolutely
owned by the stockholders.
The officers and directors
personally own
over 56% of the stock and are not
officers or directors in any other sugarrefining company. Since the incorporation in 1892, the only
change made
in the directorate was occasioned in 1896
by the death of one of its mem¬
bers."
V. 71. p. 88.—Ed.]
California & Hawaiian Sugar Refining Co.—This
company, incorpo¬
rated
in
California in 1897 with 55,000,000 auth.
stock, after
being subjected to disastrous competition, entered in capital
1903 Into an agree¬
ment with the Western Sugar Refining Co.
by which that company was to
market ali the product, paying therefor an
agreed price and a further
sum of $200,000 a year.
The factory was then closed from April 1903 to ’06.
Pennsylvania Sugar Refining Co.—In 1903, when this
new
reflneryr in Phila. was about to be placed in operation, the company’s
Champion Con¬
struction Co., which erected the same,
being short of funds borrowed
$1,250,000, secured by pledge of $2,600,000 of the $5,000,000 stock and
$500,000 bonds of the refining company and S1,000,000 1st M. bonds of
the
Majestic Apartment House.
Interest on the loan was defaulted and the
Am. Sugar Refining Co., which, it turned
out, made the loan, caused the
refinery to be kept closed.
(See V. 89, p. 1284).
i Cuban-American
Sugar Co.—Members of B. H. Howell, Son & Co.
aided In forming this combination, own a
large part of the stock and are
officers and directors and the sole selling
agents thereof; and they, with
other defendants, cause Its business to be
operated In combination with that
of the Nat. Sugar Refining Co. of N. J. and the
Am. Sugar Refining Co.
The American Sugar Refining Co. has loaned
large sums of money to the
Cuban-Am. Sugar Co., and in this and other ways has dominated
the
affairs of the latter and exercised control over the raw
sugar shipped from
Cuba to the United States.
Colonial Sugar Co. was incorporated In Jan.
1902, and has since operated Its factory at Gramercy, La.
In April 1908
the Cuban-Am. Sugar Co. purchased the entire
capital stock of said com¬
pany.
(V. 90, p. 916 1046, 1680; V. 89, p. 719.)
Allied Beet-Sugar Companies.
Spreckels Sugar Co.—In 1897 the Am. Sugar Refining Co
purchased
from Claus, John D. and Adolph B. Spreckels
one-half of the $500,000
capital stock of Western Beet Sugar Co. under an agreement
whereby' the
Spreckels Sugar Co. was incorp. in Aug. 1897, and one-half of
its capital
stock was issued to Claus, John D. and
Adolph
B.
Spreckels
and
the other
half to the American Sugar
Refining Co. Shortly after Incorporation the
Spreckels Sugar Co. erected a beet-sugar factory at Salinas,
Cal., and has
since operated it.
In 1899 it purchased the property of Western Beet
Sugar
Co. and permanently closed down its
factory.
Purchase of Beet Sugar Companies.—The American
Sugar Refining Co. in
1901 increased its capital stock from
$75,000,000 to $90,000,000 and under¬
took by competition and otherwise to secure
control of the beet-sugar
concerns, and in this connection appointed a committee
with power to
purchase for it a controlling interest in the same.
American Beet-Sugar Co.—In December 1902 the
Am. Sugar Ref. Co.
entered Into an agreement with the American
Beet-Sugar Co., which was
effective until 1906, making the American Sugar
Refining Co. “supervising
agent” for the disposal of the product of the Am.
Beet-Sugar Co., and agree¬
ing to give that co. as compensation M cent per
pound on all sugar sold
and collected for the Beet-Sugar
Company. About the same time the
Sugar Refining Co. acquired $7,500,000 of the capital stock of the Am.
Am.
Beet-Sugar Co., and from Deb. 1902 until 1907 these companies conducted
their business in accordance with the above-mentioned
agreement.
Be¬
tween 1907 and 1909 the Am. Sugar
Refining Co. disposed of its stock in
this company, and since 1909, so far as petitioner
is at present advised, the
two companies have not acted in combination.
Michigan Beet-Sugar Company and Allies.
The “Beet-Sugar Committee” by July
1902, with the assistance of Charles
B. Warren, had purchased for the Am.
Sugar Refining Co. at least 50%
of the issued capital stock of the
Michigan Sugar Co. ($200,000), Bay- City
Sugar Co. ($600,000), Peninsular Sugar Refining Co.
($1,000,000), Alma
(Mich.) Sugar Co. ($650,000) and Sanilac Sugar
Refining Co.
respectively: and by August 1903 at least 50% of the issued stock ($600,000),
of the Sagi¬
naw Sugar Co. ($650,000) and
Valley Sugar Co. of Mich. ($500,000).
The American Sugar Refining Co. thereafter
caused (1) the name of
Bay City Sugar Co. to be changed to Bay City-Michigan
Co. and the
Michigan Sugar Co. to sell its factory' (permanently closedSugar
in June 1903) to
said company.
(2) The name of Saginaw Sugar Co. to be
Saginaw-Valley Sugar Co. and the Valley Sugar Co. to sell its changed to
factory (per¬
manently shut down in Jan. 1905) to said company.
(3)
Sugar
Refining Co. to be incorporated in Michigan with $660,000Sebewaing
stock (one-half
of which the Am. Sugar Ref. Co.
immediately
purchased), and to purchase
the Sebewaing Sugar Co.’s factory at
Sebewaing.
In August 1906 the Am. Sugar
Refining Co. and Charles B. Warren
caused Michigan Sugar Co. to be incorp. in Mich,
(the Am. Sugar Refining
Co. becoming the owner of one-half of its auth.
capital stock) and in Sept.
1906 caused it to take over the factories,
&c., of the Bay Cityr-MIchigan
Sugar Co., Peninsular Sugar Ref. Co., Alma Sugar Co.,
Sugar Co., Sebewaing Sugar Ref. Co. and Sanilac Sugar Saginaw-Valley'
Ref. Co.
The
directors of the Mich. Sugar Co. are:
Charles B. Warren
Wright (1st V.-Pres.), Thomas A. Harvey (2d V.-Pres.), (Pres.), A. W.
Frederick R.
Hathaway (Sec.), Hiram A. Douglas, Benjamin Boutell, Thomas
Cranage,
Worthy L. Churchill, William H. Wallace, George B.
Morley, Benton
Hanch'ett, W. T. Knowlton, Watts S. Humphrey. Gilmore
G. Scranton,
C. F. Bach, Henry B. Joy, Cyrus E.
Lcthrop, Gilbert W. Lee and Geo. Peck.
Of the company’s 37,035 shares of
pref. and 55,342 shares of common stock
outstanding, the Am. Sugar Refining Co. holds 20,438 shares of
pref. and
20,555 shares of common.
The auth. cap. stock Is
pref. and
$7,500,000 common, par of shares $100 (compare V. $5,000,000
91, p. 1331—Ed.).
The Am. Sugar Refining Co. and Charles B.
Warren caused:
(1) In Oct.
1905 that Carver County Sugar Co. be
incorp. in Minnesota, with auth.
capital stock of $600,000 (of which Am. Sugar
Refining
Co.
holds
$483,700)
and that it purchase the machinery of the Tawas
Sugar Co. (org. by same
Interests in 1902), and erect a beet-sugar
factory' at Chaska, Minn.; and (2)
in Dec. 1906 that Iowa Sugar Co. be
incorp. in Iowa with auth. capital stock
of $550,000 (of which Am. Sugar
Refining Co. owns
and that it
purchase machinery from a factory of old Mich. Sugar$416,000)
Co. and erect a beetsugar factory at Waverly, Iowa: (3) In Dec. 1902 that
Menominee River
Sugar Co. be incorporated, Am. Sugar Refining Co. owning
$300,000 of the
$825,000 stock, and through Charles I. Cook dominating said
company.
In Feb. 1905 the Am. Sugar Refining Co.
purchased $360,000 of the
capital stock of the Continental Sugar Co. of Ohio (org. in
1905); and
Henry O.’Havemey'er acquired for himself $360,000 more of such
stock,
which since his death has been voted
by his executors and trustees, co¬
operating with Am. Sugar Ref. Co. in controlling said co.
The
auth.
cap.
stock Is $2,000,000,In $100 shares, of which
$1,200,000 is outstanding.
Great Western (Beet) Sugar Co.
In 1902 the Am. Sugar Refining Co. acquired
a majority of the stock
of
Eaton Sugar Co. ($750,000), Great Western
Sugar Co.
and
Greeley Sugar Co. ($750,000), all of Colorado, and also($1,000,000)
in March 1903
Windsor Sugar Co., incorp. in Col. in 1902 with
$750,000 stock. In 1902,
likewise, Am. Sugar Refining Co. and Chester S. Morey caused
the
mont Sugar Co., the Fort Collins,
Colorado, Sugar Co. to be incorp. inLong¬
Col.,
and to erect beet-sugar factories at
Longmont and Fort Collins,
respectively.
In Jan. 1905 the Great Western Sugar Co. was
incorp.
under
the
laws
of
N. J.. ultimately' capitalized at
$30,000,000, which has been always con¬
trolled by the Am. Sugar Refining Co. and
Henry O. Havemeyer and his
children or representatives, who together hold a
majority of its capital
stock and act In concert in respect thereto.
The Great Western Sugar
in exchange for its own capital stock,
Co.,
acquired all the assets, business and
good will of the six Colorado corporations last above described
(V. 82, p.
104, 1272; V. 91, p. 156).
The auth. capital stock is divided into
$15,000,- *
000 of preferred and $15,000,000 common in $100
shares, of which $13,130,000 pref. and $10,544,000 common is
outstanding. The directors areChester S. Morey of Denver (Pres, and Gen. Man.), W. A.
Dixon (V.-Pres.),
Charles Boettcher (2d V.-Pres.), Mahlon D.
Thatcher (Treas.), Charles
W. Waterman. Godfrey Schirmer, John H.
Porter, R. M. Booraem and
A. V. Heely, all of Colo., and Horace
Havemeyer and Samuel C. Hooker.
Frbm Dec. 1904 and Dec. 1902, respectively, Am.
Sugar
associates caused incorporation of Sterling Sugar Co. (stockRefining Co. and
$900,000)
and
[VOL.
LXXXXI
Morgan County' Construction Co. (auth. stock
$1,400,000), beet-sugar
at (a) Sterling, Col., 700 tons
cap., and (b) Brush and Fort Mor¬
gan, Col., each 600 tons
cap., and in Dec. 1905 and Feb. 1907,
caused them to sell out to the Great
respectively,
Western
factories
Sugar Co., tor stock of that
company.
The same interests in March 1905 caused the
incorp. of Billings
Sugar Co., auth. capital stock
$1,250,000, and caused it to erect a beetsugar factory at Billings,
Mont., with daily slicing capacity of 1,200 tons;
about Feb. 1907 the Great Western
Sugar Co. to purchase and hold the
entire capital stock.
In 1909 the Great Western
Sugar Co. caused the in¬
corporation of Scottsbluff Sugar Co. in
stock, which now operates a beet-sugar Nebraska, with $1,000,000 capital
factory
at Scottsbluff, Neb., with
daily slicing capacity of 1,200 tons.
Utah-Idaho (Beet) Sugar Co. and Allies.
The Am. Sugar
Refining Co. purchased (1) In March 1902 one-half of the
($2,000,000) capital stock of the Utah Sugar Co.; (2) in Dec.
1902 a ma¬
jority' of the $250,000 stock of Bear River Water
Co., and in Dec. 1902
merged said companies as the Utah
Sugar Co., with auth. capital stock of
$6,000,000. of which the Am. Sugar Refining Co.
purchased one-half.
In
1903 Utah Sugar Co. erected a
beet-sugar factory at Garland. Utah.
In
Feb. 1803 the Idaho
Sugar Co. and in Aug. 1903 the Fremont Sugar Co
were Incorp. in
Utah, each with $1,000,000 auth. stock, the Am.
Ref. Co. purchasing
Sugar
one-half thereof, and erected beet-sugar factories
at
Sugar City and Idaho Falls, Ida. In
May
1905 said Idaho and Fremont
companies were merged as the Idaho
Sugar
Co.,
with
$3,000,000 auth.
stock Am. Sugar Ref.
Co. purchasing one-half of the issued
stock.
In
Aug. 1905 the Idaho Sugar Co.
purchased a majority of the capital stock of
Snake River Valley Sugar
Co., Ltd., incorp. in Idaho in July 1903 with
$1,000,000 auth. capital stock and
owning a beet-sugar factory at Blackfoot, Ida.
In June 1905 Western Idaho
Sugar Co. was Incorp. in Utah,
with $2,000,000 auth.
capital
stock (Am. Sugar Ref. Co.
half of the stock), and erected a
purchasing onebeet-sugar factory at Nampa, Idaho.
In July' 1907 Utah
Sugar Co., Idaho Sugar Co. and Western Idaho
Co. were merged as the
Sugar
Utah-Idaho Sugar Co., and thereupon there
was
issued to Am. Sugar Ref. Co.
$3,975,500 pref. and $1,500,000 common
stock, which it has ever since held; and
Henry O.Havemeyer then became
the holder of $2,317,400 of
pref.
which since his death has been held
by the executors and trustees of stock,
his will, co-operating with the
Ref. Co. in
controlling said company. In Jan. 1908 the entire Am.Sugar
of the Snake River
capital stock
Valley Sugar Co., Ltd., having been acquired, the
Utah-Idaho Sugar Co.
took over the
property of that company.
The auth. cap. stock of
tb<? Utah-Idaho Sugar Co Is $13,000,000 ($10,000,000 pref. and $3,000,000
common), in shares of $10 each, of which only'
$8,102,180 pref. and $3,000,000 common have been
Issued.
The directors
are:
Joseph F. Smith (Pres.), Thomas R. Cutler (V.-Pres.
and Gen. Man.),
David Eecles Charles W.
Heber J. Grant. John Henry Smith, John
C. Cutler W. S. McCornickNIbley.
and George Romney, all of
Salt Lake Citv (com¬
pare V. 85. p 415; V. 86.
p. 173; V. 90, p. 918).
Amalgamated (Beet) Sugar Co. and Allies.
About May 1902 the Am. Sugar Ref. Co.
purchased one-half of the Issued
capital stock of the Ogden Sugar Co.
(incorp in 1898 with $500,000 stock
and owning beet-sugar
factory at
Co. (Incorp. in Dec. 1901 with Ogden, Utah) and also of the Logan Sugar
$500,000 auth stock and owning a
at Logan. Utah), and
merged said corporations as the Amalgamated plant
Sugar
Co., with an auth.cap. stock of $4,000,000;the
new comp ny also took over
the factory'. &c., of the
Oregon Sugar Co. (incorp in Feb. 1898 with $500 000 stock; factory at La
Grande). one-half of whose issued stock had been
acquired by Am. Sugar Ref. Co.
the formation of Amalgamated
Sugar Co. the Am. Sugar Ref. Co., Upon
as a stockholder of the
merged com¬
panies. acquired one-half of the
issued
Amalgamated stock. Of the
$4,000,000 auth. stock $2,666,600 is
and $1,333,400 is common (par
$100), of which $1,701,000 pref.
is pref. and $850,400 common.
The
directors are David Eecles (Pres.), M. S.
Browning (Vice-Pres.), Hiram H.
Spencer (Treas.), Joseph F. Smith, Fred.
J. Klesel, Joseph Scoweroft,
Adam Patterson, Joseph
Clark, Wm. H. Watts, E. P. Ellison and Geo. W.
of shares
Stoddard.
The Lewiston Sugar Co.
was incorp. in Utah in
July 1903 with auth
.$1,000,000. and in June 19C3 an unlawful
agreement was
entered into whereby said company was not to
erect
its proposed factory’
(at Lewiston, Utah) untP
1905, resulting in the sale of the capital stock
as follows:
H to Am. Sugar Ref. Co. and % to David Eecles
and associates.
Am. Sugar Ref. Co. now holds and
votes $225,000 thereof, and since co¬
operating with said Eecles.
cap. stack of
has controlled said
company'.
Present Conditions.—"The defendants
[corporations, lirmsandindividuals
named in the bill—Ed.] are
acting
in concert and without
and they have for the last
three years manufactured, sold andcompetition,
distributed
more than 72% of all the refined
sugar consumed in the United States not
produced from domestic beets.
Except the Revere
a
relatively small plant at Boston [formerly Nash, Sugar Ref. Co., with
Spaulding & Co.; see
V. 84, p. 1185, and table
above],
the concerns now refining cane
and in which
sugar
apparently no defendant has a pecuniary interest startcd
operations since 1892.
Some of them arc large, but all
together
could
not
possibly supply the domestic demand for refined
sugars and they are sub¬
ject to the obstruction interposed
the defendants, by means of which
the latter exercise the power to fix by
and control prices of both raw and
re¬
fined sugars.
Tbirty'-seven companies with 66 factories are now
engaged in
manufacturing refined sugar from domestic beets (see table
The
below)
defendants, through the Am. Sugar Ref. Co. and
otherwise, hold stock in,
dominate the affairs of, and are
In co-operation and concert with, 14
acting
of the above-named companies,
which operate 32
average output of which for 1907, 1908 and 1909 factories, the combined
was about 200,000 tons,
being 64% of the total domestic production of beet
sugar.
And the con¬
ditions prevailing during those
years fairly indicate those of the present year.
"Of the total refined sugar of
every kind consumed »n the United States
in the year 1909 the defendant
companies, acting in co-operation and con¬
cert, as shown, manufactured, sold and
distributed as a part of Inter-State
and foreign trade and commerce
over
the whole." [The company claims to 2,200,000 tons, being about 70% of
handle only about 51% of the total.
See V. 91, p.
1514.—Ed.]
The defendants conceal their
ownership and interest in certain corpora¬
tions whose capital stock they have
acquired and in many cases deny the
fact of such ownership and interest and
cause many of said
corporations
to pretend to act as
competing and
.
Independent concerns.
REFINERIES IN UNITED STATES.
Refining Co. and Allies.
Capital Stork
Location
Aver. Melting
Daily
Amount
American
(1
3 Veors
Melt. Cap.
Issued.
Co. Cfums.
ALL EXISTING CANE SUGAR
(I) American Sugar
Name
Factories.
The Ainer. Sugar
Ref. Co. (N. J.) $90,000,000
(New
(A pref.)
Spreckels
Sugar
Ref. Co. (Pa.)..
Franklin
Sugar
Ref. Co. (Pa.)..
(lbs.).
1,750,000
291,496,953
2,500,000
Orleans
June
j (doped
|
Amer. Sugar Ref.
Co. of N. Y
(Its.).
[Boston, Mass,
j Chalimtte.La.
| (beg.June’09)
1909).
[Jersey City.
3,500,000
All
Brooklyn.
600,470,488
379,159,260
2.5.C0,CC0
2,000,060
1,005,507,016
5,250,000
5,000,000
All
Philadelphia.
005,736,784
3,000,000
5,000,000
All
Philadelphia
not d erated
2,000,000
Total Am. Sugar
Refining Co...
Westem Sug. Ref.
Co. (Cal.)
1,000,000
One-half
San Francisco.
Nat. Sugar Ref.)20.000,000f S5.128,000
] Yonkers,N.Y.
Co. (seep. 154 of) (A nref.) ( (flav.familv )L.I
“Ry.<feInd.”Sec)J
Colonial
Sugars
Co. (N. J.)
W. J
McCahan
Sugar Refining
Co. (Pa., 1892).
Grand total..
see
“c”
CItv.N.Y.
($9,300,000) J Brooklyn
288,100 Seed below. Gramercy,La.
2,000,000 See
c
below.
Philadelphia.
2,882,430,001 19.000,0(0
222,450,690
253,341,971
operated
1,500,000
1,400.000
2,000,000
i ,000,000
29,075,150
300,000
208,178,930
1,250,000
421,575.747
not
4,017,053,109 26,450.000
c 85,128,000 preferred is owned
by Amer. Sugar Ref. Co. and $9,300,000 common
by Havemeyer family.
d All owned by Cuban-Am. Sug. Co.
See above and V. 90,
p. 916, 1046, 1680,
e $500,000 owned by Nat.
Sugar Ref. Co. of N. J. Par of
shares, S100.
Note.-—The term “dally melting
capacity” is used ip the sugar trade to indicate
the amount of
sugar
raw sugar and molasses
possible to be manufactured into
refined
by a factory within a working
day.
The Am. Sug. Ref. Co. of N. Y. was
inccrown for the Am. Sugar Ref. Co.
of N. J. the
in 1991 to
Brooklyn refinery.
Deo.
<2) Independent Cos., with Melting Output (Av. 3 Years)
(Refs. to“Chronicle”by Ed.) Cap.Slock.
Factories.
and Daily Cap. in Lbs.
Av.Melt.,lbs .Daily Cap.
Sugar Refining Co.
(V. 84, p. 1185)
1,750,000 Boston.
Warner Sugar Refining Co.
(V. 83, p. 973)
5,000,000 Edgewater, N. J.
Federal Sugar Refining Co.
(V. 90, p. 1298)
10,000,000 Yonkers, N, Y.
Arbuckle Bros, (partnership)
Brooklyn.
Wm.Henderson (an Individ.)
New Orleans, La.
J. R. Norman (an Individ.),
Cogswell, La. (not
Revere
89,842,701
400,000
153,302,064
700,000
445,684,052 1.750.0C0
557,699,297 2.250,000
95,877,689
300,000
__
75,000
operated)
Cunningham Sugar Refining
Co. (Texas) :
850,000
Cal. & Hawaiian Sugar Re¬
fining Co. (Cal., 1897)
V. 82, p. 1324...
5,000,000
17,808,566
Sugar Lands, Tex.
150,000
Group.”
"Eastern
-Stock Owned by
HaveAmerican
Capital
Sugar
Ref. Co.
Avge. Daily
Slicing, Slc'g.
1907-09, Cap.
Tons.
Family.
Sugar
Tons.
289,761 4,250
5,534,200/ 2,055,500
a600,000
483,700
al,200,000
a550,000
<*825,000
505,440
416,500
300,000
§360,000 86,444 1,250
.est.35,000
400
27.645 1,000
460,147 7,5C0
...)
f
600
600
Co.,
746,000
400,000
507,070
1,250,000 (V.76,p.1358)
800,000
350,000
550,000
52,500
492,000
Mich
Holland (Mich.) Sugar Co
Mt. Clemens (Mich.) Co
—
Owosso Sue.Co.(Owoss.&Lans’n)
Rock Co. Sug. Co.,Janesville, Wis.
W. Mich. Sug. Co., Charli volx, Mich.
-
Chippewa (Wis.) Sugar Co.
U. S. Sugar Co., Madison, Wis..
Wise. Sugar Co., Menominee Falls
Charles Pope, Riverdale, Ill
Western
Sugar Refining Co.,
Marine City, Mich
1,500
450
600
1470,635'! 1,900
—
—
6C0
400
600
600
600
400
-I
/ Began 1
./Oct.’iOf
150.000
470,635 9,200
Co. has no known Interest.
Group.”
Total In which Am. Sugar Ref.
350
"Colorado
Great Western Sugar Co. (V. 91,
Eaton, Long¬
p. 156), Greeley,
mont, Loveland,
Windsor, Fort
Collins, Sterling, Brush and
Fort Morgan, ColO-.-.a com.$10,544,000/$9,224,100 $8,494,000 853,897 7,300
apref. 13,130,000/
Billings (Mont.) Sugar Co.
al,250,000/ All owned by Great /101.520 1,200
Scottsbluff (Neb.) Sugar Co
a875,000/ Western Sugar Co. /...... 1,200
Total Colorado cos. in which Am. Sugar Ref. Co. Is
interested
955,417 9,700
American Beet Sugar Co. (V. 90,
p. 1360; V. 88, p. 1130, 1063,
and "Ry. & Ind.” Sec., p. 138),
Rocky Ford, Col.; Lamar, Las
(2,500
.]
...
Holly Sugar Co., Holly & Swink.
U. S. Sugar & Land Co. (V. 88,
p. 105), Garden City, Kans.
and Glendale, Aria—
|
(478,738!
1,967,000 (V. 86, p. 1228).
1,497,500 (V. 89. p. 415).
|
4,724,000
|
5,464,500
J
450
500
11,800
j
11,500
478,738 6,750
Total in which Am. Sugar Ref. Co. has no known interest.
Southwestern Sugar & Land Co. $3,000,000
Utah-Idaho Sugar Co. (V. 90, p.
and
-
Garland,
Utah; Idaho Falls, Sugar City,
Blackfoot & Nampa, Ida./d pref.8,102,180
410,336 5,150
3,975,5001 2,317,400
\d com.3,000,000 1,500,000/
Amalgamated Sugar Co. (V. 75,
p.
186), Logan and Ogden,
Utah; La Grande, Ore../a com. 850,400/ 1.275,700
/a pref. 1,701,000/
Lewiston (Utah) Sugar Co
225,000
<*606,430
Total Utah
cos.
132,113 1,450
70,027
e225,000
612,476 7,200
In which Am. Sugar Ref. Co. is Interested
"Pacific Group.”
Sprockets (Cal.) Sugar Co. (V.
68, p. 430)
a$5,000,000
250.000
Alameda, Cal., Sugar Co. (V. 91,
v
p. 591), Alvarado, Cal
465,750
C745.000
UnionSugar Co., Betteravia, Cal. cl. 265.000 (V. 90, p. 981)
Total Pacific
cos.
in which Am. Sugar
153,956 3,000
290,138 4,600
Ref. Co. is interested
Total In which Am. Sugar Ref. Co. has no
750
850
45,891
90,291
American Beet Sugar Co., Chino
and Oxnard, Cal
See above
Los Alamitos (Cal.) Sugar Co
500,000
Sacramento Valley Sugar Co.,
Hamilton City, Cal
'
1,000,000
Wash. State Sugar Co., Spokane.
500,000
600
■
1
f2,300
I
600
(337,514!
700
500
known Interest
337,514 4,100
Par value of shares $100; b par $50; c par $25; d par $10.
e By stockholders
Amalgamated.
>
Note.—The possible output of a beet-sugar factory, known as Its “da’iy
slicing capacity,” Is estimated according to the number of tons (2.240 lbs.)
of raw beets which It can slice or consume In a day; the actual output de¬
pends on how much of this capacity 13 utilized
The refined sugar ulti¬
mately produced weighs from one-eighth to one-sixth as much as the
raw
7,387
19,159
1,307,808
19,097
St. Louis real estate
$1,457,126|
Total
Patents and good-will, which represented an
vious years, are not Included as an asset In the
p. 1513.
$1,457,126
item of $1,582,441 in pre¬
above statement.—V. 91,
Southern Iron & Steel Co.
(Report, for the Six Months ending June 30 1910.)
Vice-President James Bowron, Nov. 28 1910, says:
Subsequent to June 30 the company disposed of an additional $200,000
debentures (of the $1,200,000 authorized), as well as $600,000 one-year 6%
gold notes, and the current liabilities thereby reduced accordingly.
(Com¬
V. 91, p. 657; V. 90, p. 703).
Marwick, Mitchell & Co., chartered accountants, state: “During the
(6 months’) period covered by our examination, a considerable amount
The Alabama City plant is still
of reconstruction work has been done.
pare
uncompleted, however, and has only been in partial operation for a short
period. The results shown by the accounts cannot, therefore, be regarded
as a criterion of what that plant is capable of producing.
In accordance
with the practice adopted during the reconstruction period, interest
amounting to $24,479 on the expenditures on the Alabama City plant to
the date at which the various parts of that plant were put in operation
has been added to Construction.
The interest was calculated on the ex¬
penditures on the blast furnace to the end of February, steel plant to the
end of April and rod and wire mills to June 30.”
In the profit and loss account there has been charged a loss of $54,843
by reason of the drop in the market price of pig iron on hand and a short¬
age in the former estimates of the amount of ore on hand, relative to
which the auditors state: “We have reduced the price at which the pig iron
was carried to the average selling price as shown by the records of the
company at June 30 1910, as the cost price was in excess of the market
value.
The change in price resulted in a reduction of the value of the pig
iron of $41,952, which has been written off to profit and loss.”
SOUTHERN
FOR
IRON
THE
& STEEL CO. PROFIT AND LOSS ACCOUNT
SIX MONTHS ENDED JUNE 30 1910.
$74,373; miscell. Income, $18,392
Gross income from oper..
Deduct—Reduction in Inventory value of pig iron, $41,953;
age in
pense,
beets.—V. 91, p. 513.
American Soda Fountain Co.
(Statement in Connection with Proposed Readjustment.)
recently published the fol¬
lowing statement of Treasurer I. F. North in connection
with the proposed readjustment:
$92,765
short¬
ore piles, $12,891; cost adjustment, $17,119; idle ex¬
$8,494; taxes, $4,199; int. and discount, $7,625
Debenture
interest
92,281
$484
$22,837
163,378
16,339
$202,070
Loss for six months..
SOUTHERN IRON & STEEL CO. AND GEORGIA STEEL CO.
CONSOLIDATED BALANCE SHEET JUNE 30 1910.
Liabilities ($29,257,746).
Assets ($29,257,746).
$7,000,000
Plant and property
$23,590,721 Prefened stock
Common
stock
10,000,000
New
construction,
re¬
S.
I.
&
S.
IstM.
6,885,000
20-yr.
4s
construction, &c
2.610,645
Furniture and fixtures.
11,108 6% 5-yr. convertible debs. 1,000,000
_
920,000
375,000
592,000
754,332
727,295
404,559 Accrued taxes
2,725 Accrued interest.
14,178
108,720
♦Advances by reorg.com.
765,096
£116,124
92,500 Reserves
29,532
...
Note.—There Is also
counted, of $25,963.
700,000
Georgia Steel Co. bonds.
Lacey-Buek Iron Co. bds.
17,500 Chatita’ga I. & C. Co. bds.
17,681 Accounts payable
1,565,479 Notes payable
Trust Co.
of America.
fire loss account
Sink, fund of subsid. cos.
Inventories
Acc’ts receivable.
Notes receivable.
Notes r ceivable—Gads¬
den donations
Cash
Deferred charges
Deficit
13,224
202,070
a
contingent liability on notes receivable—dis-
*
This amount represents the balance of the advances made by the re¬
organization committee pursuant to the reorganization plan.
If per¬
mitted by law, this account will be paid in preferred stock at par and the
stock thereupon be either sold by the committee and the proceeds used for
the benefit of the company, or the preferred stock be returned to the com¬
pany as treasury stock.
It it is determined that the company cannot
issue Its preferred stock In payment of the claim, the committee will re¬
lease the company from Its liability on account thereof.
x Reserves
Include extinguishment, $31,279; relining blast furnaces,
$25,825; rebuilding open-hearth furnaces, $5,689; moulds and stools,
$12,773; sinking fund to retire bonds, $9,640; workmen’s insurance fund,
$14,034; bad debts, accident, &c., $16,883.
V Company’s stock includes $600,000 preferred held by trustee to con¬
vert $1,000,000 debentures and $50,000 pref. and $50,000 common under
option to the President and employees at $50 and $10, respectively.—
V. 91, p. 1517. 657.
Aeolian, Weber Piano & Pianola Co.
a
of
508
18,224
157,992
10,900
Company’s stock
'“Utah Group.”
Lehigh
Machinery, tools and fixt’s
Stock in other companies-
$104,040
_
Operating profit
Starting open-hearth furnaces, prospecting, discount on bonds
Bond int., $187,857; less charged to construction, $24,479
Animas and Grand Island, Neb.
Western Sugar & Land Co.,
Grand Junction, Col
National Sug. Mfg.Co.,Sugar City
918),
*
Liabilities—
Assets—
Cash
$137 901 Notes payable
Accrued
interest
Customers’ accts. receiv_.
156,890
Other accts. receivable
12,222 Accounts payable
Notes receiv. & accr’d lnt.
625,100 Accrued taxes
Insurance premiums prep’d
3,107 Com. not yet matured
Merchandise inventory
333,914 Surplus
6C0
21,297
$200,000
390,000
Co.
»
BALANCE SHEET OF AUG. 31 1910.
Total
which Am. Sugar Ref. Co. is interested
West Bay City (Mich.) Sugar
St. Louis (Mich.) Sugar Co
German-American
Salzsburg, &c.,
■
meyer
Stock.
Company and Factories—
Michigan Sugar Co. (V. 91, p.
1331), Bay City, Caro, Car¬
rollton, Alma, Sebewaing and
Croswell, Mich
apref. S3,703,500/$2,043,800
Carver Co. Sug.Co.,Chaska,Minn.
Continental Sugar Co. (V. 80, p.
1177; V. 79, p. 682), Blissfleld,
Mich., Fremont, Ohio
Iowa Sugar Co., Waverly, la—
Menominee (Mich.) River Sug.Co.
capital stock Is reduced.lt would be impossible, because of legal restrictions,
to pay dividends until the present nominal capital is made good.
Because
of this restriction It will be necessary to reorganize the company, and the
directors, under the guidance of the attorney, are considering a reorganiza¬
tion or readjustment based upon the actual resources.
The proposed plan
will be submitted to the stockholders in due time when the affairs of the
company are in condition for the change.
The company Is now In excellent financial condition with cash on hand
considerably in excess of liabilities, so that no additional capital will be
required, and no call wll be made upon stockholders for subscriptions for
any purpose.
1,570,843,702 6,625,000
BEET SUGAR REFINERIES OF UNITED STATES AND HOLDINGS THEREIN
OF AM. SUGAR REF. CO. INTERESTS (SO FAR AS KNOWN).
acorn.
The Treasurer believes that the actual operating by the company during
the year ending Sept. 1 1910 has been carried on at a slight profit, or cer¬
tainly without any substantial loss, and this in spite of the fact that there
has been during the year a further liquidation and decrease in the volume
Unless, however, the
of business in order to further scale down the debt.
210,629,333 1,000,000
Crockett, Cal.
Total
Total Eastern cos. in
1573
THE CHRONICLE
101910.]
(Balance Sheet
A
PPin/o
1 Q1 (I
Stock of oth. cos $9,009,800
Accts. receivable
592,000
Cash
408,473
Total
—V. 80, p.
of June 30 1910.)
Liabilities—
1910.
$9,009,800 Preferred stock. $3,500,000
stock.
6,478,200
Common
480,000
32,073
511,317 Surplus
1909.
..$10,010,273 $10,001,117
999.
Total
1909.
$3,495,000
6,478,200
27,917
$10,010,273 $10,001,117
_
GENERAL INVESTMENT NEWS,
The ‘‘Boston News Bureau”
The company has Just passed through a period of readjustment and par¬
tial liquidation, beginning in 1906, which was rendered necessary by several
Its affairs have now reached a more satisfactory
years of losing business.
condition, and the officers feel that it is in position to expand its output
and do a larger volume of business which will enable It to make a reasonable
profit on its sales.
In the fall of 1906 the debt amounted to more than
$1,250 000.
A substantial liquidation was determined upon as the only
possible method to save the business, and this has been carried on as rap¬
idly as possible. At the present time the debt is considerably less than the
cash now on hand.
Many items enter into the reduction of expense, but,
considering only a few of the principal items, there will be a saving of
$38,000 in overhead charges this year over last.*
ELECTRIC ROADS.
Algoma Central & Hudson Bay Ry.—Bonds Offered£in
Paris on Nov. 26.—The Banque Franco-AmericaineTand
P. Saint-Leger et Cie. offered in Paris at the price of 463.50
francs per $100 bond (515 francs) $3,000,000 of the newTlst
M. 5% bonds.
Compare V. 91, p. 93.—V. 91, p. 1327,11511.
American (Electric) Railways, Philadelphia.—Exchange"of
RAILROADS, INCLUDING
Bonds.—The “Phila. News Bureau” of Dec. 3 said:
The American Railways Co. has returned all of the Tnter-State 4% bonds
deposited by Messrs. Fox & Moore, amounting to something over $1,000.-
1574
000 out of
a
THE CHRONICLE
total deposited with the American
Co. of Detween
$1,600,000 and $1,700,000. Some of the smaller Railways
holders of the 4 Hs given
in exchange lor their Inter-State 4s do
not seem at all anxious to re-ex¬
change them. The American Railways Co. has no power to force them
baok. When the position of the Inter-State, as a result of its recent leases
and
the preferred stock plan, is better
understood, it is thought that all the
former holders of the Inter-State 4s will be desirous to effect the re-exchange. Compare V. 91, p. 1511, 1445.
Chesapeake & Ohio Ry.—Syndicate Dissolved.—The
syn¬
dicate headed by Kuhn, Loeb & Co., which last March under¬
wrote
$31,930,000 20-year 4J^% convertible bonds, issued
Hocking Valley Ry.
dissolved, the bonds hav¬
ing been sold (V. 90, p. 771, 848).—V. 91, p. 1159, 1095.
Chicago & North Western Ry.—Bonds All Sold.—Kuhn,
Loeb & Co., who recently purchased
$15,000,000 gen. mtge.
4% bonds, announce that they have privately sold the en¬
tire amount.
Compare V. 91, p. 1385, 1095.
Cincinnati Union Depot & Terminal Co.—Franchise.—The
company filed on Dec. 2 its acceptance of the ordinance
passed last summer; also a $100,000 surety bond.
in connection with the purchase of the
and for other purposes, has been
The proposed station will be between Third and Pearl streets
(and near
the Post-Office), with a building 400x200 ft. on the north side of Third
St.
and train-sheds 309 ft. wide to the south side of Pearl St.
The plan pro¬
vides for 14 through tracks, but as there Is little
through service, trains
will enter and depart at each end,
making practically 28 tracks for the
traffic, which is said to aggregate 276 inbound passenger trains daily.
A
large office-building will be erected over the station, about half of which
is expected to be occupied by the various railways.
In addition, there will
be a separate building to accommodate the numerous electric
interurban
railways. The co3t may eventually reach $20,000,000 or $30,000,000.
The franchise provides, that, within 21 months, the
company must
have $2,000,000 of assets, and within five years the
depot and terminals
must be completed.
A. S. White is President and John E.
Bleekman,
Vice-President.
Compare V. 90, p 1362; V 91, p 154, 462, 518.,
Columbus Marion & Bucyrus (Electric)
—The shareholders will vote Dec. 31 on
stock from $500,000 (all common) to
tion of $100,000 pref. stock, to be
RR.—Pref. Stock.
increasing the capital
$600,000, by the
crea¬
used, it is supposed, in
part at least of the over¬
adjusting indebtedness, including a
89, p. 1541.
Des Moines (Iowa) City
Ry.—Decision.—Judge Applegate at Adel on Dec. 2 directed the jury to dismiss the quo
warranto suit to eject the company from the
city streets on
the ground that its franchises had
expired.
due interest.—V.
The Court held that the Turner franchise or ordinance of
1866, under
which the company is operating, is without
limitation, no time limit being
stated therein, and that he could not at this time
pass upon the length or
duration of the ordinance, but would, if he could do
so, be inclined to give
t the limitation of 50 years, or until Oct. 1
1916, so as to correspond with
the life of the company.
After that date, he held, the question as to the
ght to the use of the streets could be properly raised.
Both the company
and the city authorities think the decision may be
helpful in
adjustment of the franchise controversy. Compare V. 89, p.leading to an
224; V. 88,
p. 1313.
Duluth Winnipeg & Pacific Ry.—Listed in London.—The
London Stock Exchange has listed the
£950,000 1st M. 4%
debenture stock.
Compare V. 90, p. 1490.—V.
Gainesville Midland Ry.—General
91,
p.
154.
Manager, Not President,
Resigns.—E. B. Eppes recently resigned as Gen. Mgr. (not
as
President), effective Jan. 1.
President.—V. 81, p. 1848.
Geo. J.
Baldwin is still
Hudson & Manhattan RR.—Offer to
Operate New Svbway
Lines and to Pay Part Cost of Construction.—The
company on
Nov. 18 made a formal proposition to the
city that the city
equip additional subway lines in Manhattan,
Brooklyn and the Bronx (55 miles of track in all), estimated
to cost $150,000,000 for
equipment and operation, any excess
over $100,000,000 to be borne
by the company, which offers
to operate the same on a 5-cent-fare basis.
construct and
All surplus earnings after fixed charges of all kinds
are to be
equally between the city and the company, but any deficit to be a divided
charge
against future earnings before any division is made.
The company also
ntlmates that it may be willing to operate the Fourth
Avenue (Brooklyn)
subway, under construction to 43d St., and the proposed extensions
to
Coney Island and Fort Hamilton.
While the new lines would
connect with
the present ones, an extra fare is to be charged on the
latter, consisting of
18 miles of track.
The proposed new lines
inciude, with others, the
Broadway-Lexington Avenue line, as
planned in the so-called
Tri-borough
route, south from River Ave. in the Bronx, with extensions
to connect with
the lines now being built by the company to the Grand
Central Station- and
a new line from Church St. between
Liberty and Rector, extending under
the East River to a connection with the Fourth
Avenue
construction.
The proposed new lines are intended to Subway now under
form a part of the
amended Tri-borough route to be
completed later.
See offer of Inter¬
borough Rapid Transit Co. below.—V. 91, p. 1253, 1160.
Interborough Rapid Transit Co.—Neiv Offer to City for
Subway Construction and Operation and Extension and Thirdtracking of Elevated Lines.—The company on Dec. 5 sub¬
mitted to the Public Service Commission an offer
to build
and equip new subway lines in
Manhattan,
Brooklyn
and
the Bronx,for the sum of $53,000,000 (the
approximate cost
to the city of the present subway
lines) to be furnished by
the city, the latter to provide the
necessary easements and
rights of way and the company to supply the additional cost
of construction and equipment,
estimatedjat $75,000,000.
The
Commission
this
week
approved
the
com¬
pany’s application to build at its own expense (estimated at
$32,000,000) elevated extensions in the Bronx and thirdtrack its present Second, Third and Ninth Avenue
Elevated
lines, and also to operate the Belmont tunnel when com¬
pleted by the city at a cost of about $1,500,000. See com¬
pany’s former offer, V. 91, p. 870, 1254. The total esti¬
mated expenditure by the company for both
subway and ele¬
vated lines, if the company’s subway offer is
accepted, would
therefore be about $107,000,000.
Compare offer of Hudson
& Manhattan RR. above.
The Board of Estimate and
Apportionment yesterday approved the arrangement with
regard to the Belmont tunnel.
The Manhattan lines include
a continuation of the present
subway along
to about 149th Street and
a
down-town west side line extension of the present line
along Seventh Avenue
and other streets (serving the Pennsylvania RR. station) to
Liberty Street
and the Battery, with a bran oh extending under
Liberty Street and the
Lexington Avenue from about 42d Street
[VOL.
LXXXXI
East River to Pineapple Street in
Brooklyn- The so-called subway lines
(part of which are elevated), including the Fourth
Avenue, Brooklyn,
subway line to 43d Street,under construction, aggregate
about 35.5 miles
in length, the
company agreeing to carry or transfer passengers over the
entire system. Including the present
subway lines, with proposed extens ons to C
ney Island and Fort Hamilton, for a 5-cent fare.
The lines follow largely those laid down for the
tri-borough Bystem, with
the addition of the Manhattan west side
down line and the Eastern Park¬
way line in Brooklyn to Buffalo Avenue and the
Lafayette Avenue line to
Broadway. The company proposes to operate the lines for 49
years from
completion, the leases of the present subway lines to be amended
so that
the operation of all the lines wfll cover the same
period. The city. It is pro¬
posed, shall take all the net profits for the first 5 years from the
commence¬
ment of operation on any part of the new
subways after cost of operation,
maintenance, charges, depreciation, obsolescence and interest and
sinking
fund on city bonds, the profits after the 5
years to be equally divided be¬
tween the city and the
company, any deficit in meeting the
company’s
charges in any year to be box*ne by it and not be a cumulative
charge against
future earnings.
Any deficit sustained by the city in meeting interest and
sinking fund on its bonds Is to be a charge against future
profits before
any division thereof is made.
On the Fourth Avenue line the
charges is to be paid annually by the city, but that portion whichdeficit after
represents
payments made by the city on bonds Issued
by it is to accumulate and be a
charge against future profits before any division is made
between
the
and the
company.
The net profits after providing for the aforesaid city
pay¬
ments Is to be equally divided.
The company agrees to operate such
additional extensions as may be hereafter constructed
by the city, provided
the city shall agree, on terms to be
arranged, to make good any financial
loss to the company.
Favorable Tax Decision.—The Court of
Appeals at Albany
Nov. 26 rever ed the decision of the
Appellate Division
and annulled the assessment
by the State Comptroller of
franchise taxes for the 3 years
ending June 30 1909, amount¬
ing to $481,062 60, and directed the making of a new assess¬
ment based upon
3^ of 1% of the earnings derived from
subway operations and 34 of a mill for each 1% of dividends
upon the par value of the capital stock.
on
This means
a
cancellation and
a
credit to the
taxes already
paid to the amount of $112,335 and a saving in company’s
future taxes of between
$40,000 and $50,000 annually.—V. 91,
p. 1385, 1254.
Laramie Hahn’s Peak & Pacific
Ry.—Payment
of Maturing
Notes.—The $250,000 6% 2-year notes
Dec. 15
maturing
will be paid at the office of Lawrence
Barnum & Co., 27
Pine
Street, this city.—V. 88, p. 1061.
Lehigh Valley RR.—Decision.—The United States Circuit
Court of Appeals in this
city on Dec. 8, reversing Jhe lower
court, overruled the demurrer of the company
in the suit
brought by Henry E. Meeker, a Pennsylvania anthracite
coal operator, to recover
triple damages under the Sherman
Anti-Trust Law from the
company and other coal carriers.
It was claimed that the
defendants, through the medium of the Temple
Iron Co. and otherwise, conspired
and combined to increase the prices of
anthracite coal at the mines and also
charges for the transportation of
coal, so as to monopolize the trade and commerce in anthracite
coal between
Pennsylvania and New York and drive independent
shippers out of busi¬
ness.
The Court holds that the plaintiff Is
not seeking redress as a shipper
against the defendant as a carrier, but as a
party to an alleged unlawful
conspiracy, the unreasonableness of the rate being only one
of the means
employed to make the conspiracy effective.
The courts, it is stated, will
therefore not refuse redress merely because the
Inter-State Commerce Act
creates a tribunal to which shippers
must resort primarily for relief against
excessive freight rates.
The decision does not hold, as has been
widely
reported, that it is unnecessary in a general wray that
freight rates should be brought to the attention of the complaints regarding
Inter-State
Commerce
Commission before being taken to the Federal courts.
Favorable Decision
marks
as
to
Coal
Roads.—See editorial
re¬
preceding page.—V. 91, p. 1447, 1386.
Lehigh Valley Transit Co., Allentown, Pa.—Preliminary
Report.—The “Philadelphia Press” of Dec. 6 said:
on a
According to
a
preliminary report prepared by Pres. Stevens, the
com¬
pany earned a surplus of about $211,000 above all
charges for the year ended
Nov. 30, contrasting with $101,688 the
year before.
The surplus is equiva¬
lent to 4.22% on the $5,000,000 pref. stock
outstanding,
which is entitled to
5% cumulative dividends from Nov. 3 1910.
The report shows that the
company’s Income was not only increased by additional passenger
business,
but also through power, electric light and express
business
The company
has practically doubled its surplus during the last
three years, investing
the surplus in Improvements.
It Is now engaged In
increasing its power
capacity 50% without calling for any additional new capital.—V.
91, p.1328.
Massachusetts
Electric
Companies.—Report.—See
“An¬
nual Reports.”
To Merge Subsidiaries.—P. J.
Sullivan, President of the
Boston & Northern Street Ry. Co., filed with the
Secretary
of the Commonwealth of Mass, on Dec. 6 a
petition for legis¬
lation to authorize the Boston & Northern to
purchase the
franchise and property of the Old
Colony Street Ry. Co. on
terms agreed upon by a
majority of the board of directors
and approved by a
majority in interest of the stockholders
of each road and by the Railroad Commission.
The “Bos¬
ton
Transcript”
says:
The legislation sought would authorize the B. & N. to
increase its capital
stock by such common and preferred
capital stock, not above the amounts
of the same stocks of the Old
Colony outstanding at the date of purchsae,
as is deemed necessary
by the Commission.
It would permit the
ing corporation to make any of this capital stock pref .stock with purchas¬
such re¬
striction that the amount Issued shall not exceed the
aggregate amount of
outstanding common stock, and under it the B. & N., after the
completion
of the purchase, as successor to the Old
Colony, could issue bonds unissued
at the date of purchase, from the latter
company to the Old Colony Trust
Co.
The bonds of either company, which are at the
completion of the
purchase legal investments for savings banks, would, under the proposed
legislation, continue valid for that purpose while the purchasing company
earns and pays each year dividends at of least
5%.—V.91, p.1328, 1254.
Metropolitan Street Ry., New York.—Extension of Time.—
The Public Service Commission on
Thursday granted an ex¬
tension of time until Dec. 25 to put into effect the
joint rate
with the Central Park North & East River RR., ordered on
Aug. 2.
Dec.
The time
as
previously
91, p. 1512, 1386.
5.—V.
fixed
expired
on
Northern Securities Go.—Dividend Increased.—A divi¬
dend of 4% has been declared on the capital
stock, payable
Jan. 10 1911 to holders of record on Dec. 28,
comparing with
23^% in Jan. 1910, 4% in 1909 and 5% in 1906 to 1908,
inclusive.—V. 91, p. 1386.
Philadelphia Rapid Transit Co.—Proposed $10,000,000
Bond Issue, with Guaranty of Union Traction Co.—The
directors of the Union Traction Co. and of the
Philadelphia
Rapid Transit Co. announced on Dec. 7 that they had
agreed upon a financial plan, saying:
Dec.
1575
THE CHRONICLE
101910.]
As a result of numerous conferences, ending with the meetings of the two
boards to-day, ttie Union Traction board has
to
to
the company’s stockholders the guaranteeing of a $10,000,000 bond issue,
recommend
provided the Rapid Transit stockholders will make over to the Union Trac¬
tion system the ownership of the Market Street Elevated road, which would
agreed
The Rapid Transit board
stockholder
after 60 days’ advertised
notice, and tne plan can only become effective in case the City Councils
assent.
Tnose meetings have not yet been called, and will not be until
A letter will be sent to Mr. Stotesthe details of the plan are worked out.
bury advising him of this action, and taking up with him the other matters
then be used as collaterii of the new bond issue.
has agreed to -ecommend this action to its
These s ockholders’ meetings can only be held
referred to in his letter.
“Philadelphia Ledger” of Dee. 8 said:
detail, as far as outlined, is that the Market
Street Elevated Railway Co. shall issue stock to the amount of $7,200,000.
This, together with $2,800,000 In outstanding stock, now held by the Union
Traction Co. (V. 91, p. 1386) will give the collateral required by that co.
When the Rapid Transit Co.’s loan is guaranteed and the Union Traction
Co. becomes owner of the Market Street “L,” the property will be leased
to the Rapid Transit Co. for a nominal consideration, $1.
A $10,000,000
bond Issue of the Market St. El. Ry. Co. (V. 86, p. 547) was the nucleus
for the nearly $20,000,000 cost of the road.
It Is not intended that the new $10,000,000 loan shall be floated in its
e ltlrety at any one time, but that the money be obtained as required,
p obably in $2,000,000 lots.
See also V. 91, p. 1386, 1161.
The
The Stotesbury program In
St. Louis Southwestern Ry.—Preferred, Dividend Re¬
duced.—A semi-annual dividend (No. 4) of 2% has been de¬
clared on the $19,893,650 5% non-cumulative preferred
stock, payable Jan. 15 to holders of record Dec. 31, com¬
paring with 2J^% paid in July and Jan. 1910 and 2% in
July 1909, the first distribution made.
A statement was issued after the meeting that while the gross earnings
have shown a satisfactory increase over last year, the cost of operation has
risen so disproportionately that the directors deemed it wise to reduce the
INDUSTRIAL, GAS AND
MISCELLANEOUS.
Alabama Consolidated Coal & Iron Co.—Financing.—
Plans, it is reported, are under consideration for taking care
of maturing obligations (including with minor items $421,000
6% 1st M. bonds, due May 1 1911, and $275,000 6% notes
maturing Feb. 1 1911; Mercantile Trust & Deposit Co. of
Baltimore, trustee. The “Baltimore Sun” of Nov. 26 said:
minority
It Is said
the prop¬
been ex¬
pended from net earnings in paying interest on bonds, for sinking fund re¬
quirements, and in payment of matured notes. The financial requirements
were discussed, with the result that the Baltimore interests again signified
their willingness to furnish additional funds, providing satisfactory ar¬
J. William Mlddendorf and Edwin W. Rich represented the
stockholders at the annual meeting in Jersey City on Nov. 23.
It showed that
that the meeting was in every way satisfactory.
erty was being managed with profit.
Since April $120,000 has
rangements could be made.
The report that It is proposed to float $1,529,000 5% consols of 1903 is
Incorrect.
The total authorized issue of the consols was originally $3,500,000, but on Jan. 7 1905 $1,250,000 of these were canceled
The remaining
$2,250,000 now stand as follows:
Held to retire underlying bonds (being
the 1st 6s due Feb. 1 1911, reduced by sinking fund to $421,000), $490,600;
held in sinking fund, $59,000; outstanding, $1,701,000.
A recent payment
into the sinking fund, amounting to 1 % of the outstanding bonds of this
Issue, has not yet been invested.—Ed. “Chronicle ”*
[The balance sheet of Oct. 31 1909—not
1910—showed outstanding: 1st
M. 6s, due May 1 1911, $421,000; 1st consol. 5s, $1,721,000; collat. trust
At the same
notes, due Feb. 1 1911, $275,000; loans payable, $244,701.
date there were pledged as security for the collateral trust notes $900,000,
and for loan endorsement $400,000 of the $5,000,000 refunding and Im¬
provement 1st M. 50-year
gold bonds.
Earnings.—Vice-Pres. H. S. Matthews, in a letter to Pres.
Joseph H. Hoadley, gives the earnings for the fiscal year
ended Oct. 31 1910 as follows:
“Figures now available in¬
dividend.
See earnings for 4 mos. ending Oct. 31 on pages previous to
dicate net earnings of $132,498, after deducting bond inter¬
“Investment News.’’—V. 91, p. 942, 337, 333 .
Seaboard Air Line.—Syndicate Dissolved.—Blair & Co., est, sinking fund and all fixed charges. This is against a
loss of $32,336 for the previous year, thus showing an im¬
managers of the syndicate which last year underwrote
$18,000,000 40-year adjustment 5% bonds have called upon provement of $164,834. These comparisons are without
the members of the syndicate to deliver to them on Dec. 15 deducting the depreciation charges for either year, as this
the balance of the bonds in their hands, after which the syn¬ charge for the year just closed cannot be determined until
after the audit of the books by Price, Waterhouse & Co.”
dicate will be dissolved, having disposed of the entire issue.
The annual reports have shown:
These bonds were offered to stockholders at 70, but the subscriptions
from
The bonds are now quoted
stockholders amounted to only $1,500,000.
around 76 (V. 89. p. 43).—V. 91, p.
1021.
Coupon to Be Paid in Full.—The execu¬
the full payment on Feb. 1
2J^% coupon on the out¬
standing $24,979,500 adjustment incomes from the earnings
of the 6 months ending Oct. 31 last.
The first 6 months’
interest was also paid in full on Aug. 1 last.
The distribution
calls for $624,487 for the 6 months, or $1,248,974 for a year.
The amount available for adjustment interest out of the
earnings for the year ending Oct. 31 (the first full year during
which the bonds were outstanding) was $2,976,000, leaving
a surplus of about $1,727,000, or nearly 1)^ times the amount
required to pay the adjustment interest.—V. 91, p. 1021, 871.
Third Avenue RR., New York.-—Rehearing Denied.—The
Public Service Commission, after further consideration of
the arguments and proposed line of proof of the reorganiza¬
tion committee, on Dec. 5 denied the application of the
committee for a rehearing on the amended reorganization
plan. Compare V. 91, p. 1096.—V. 91, p. 1255, 1162.
Union Traction Co., Philadelphia.—Guaranty.—See Phila.
R. T. Co. above.—V. 90. p. 1678, 1556.
Wabash-Pittsburgh Terminal Ry.—Application to Issue
West Side Belt Receivers’ Certificates.—The receivers of the
Wabash-Pittsburgh Terminal Ry. and of the West Side Belt
R.R. on Dec. 8 applied to Judge Orr in the United States
Court at Pittsburgh for permission to issue $2,000,000
receivers’ certificates to purchase 2,000 freight cars for the
West Side Belt road.
The trustees of the bondholders and
the bondholders’ protective committee approved the appli¬
cation, but counsel for the Wabash R.R. objected.
A
decision is expected shortly.
Postponement Denied.—John G. Milburn, appearing for
the Wallace committee in the suit of the, Colonial Trust Co.
of Pittsburgh to compel the return of bonds by the Wallace
1st M. bondholders11 committee, which have been deposited
with it, yesterday asked for a postponement of arguments
in the case, inasmuch as a plan of reorganization had been
agreed upon and would probably be published within two
weeks, saying that in that event there would be no occa¬
sion to argue the motion.
Second Adjustment
tive committee has recommended
next of the second semi-annual
Samuel Untermyer, of counsel for the Colonial Trust Co., objected to a
further postponement, denying that any acceptable plan,at least, has
offered, and that independently of any plan the bondholders were
to withdraw their bonds.
Judge Noyes declined to grant a further postponement and the case was
to be argued yesterday afternoon.—V. 91, p. 1513, 1386.
been
entitled
Electric Ry.—De¬
fault—Committee.—Default having been made as to the Dec.
coupons of the 1st M. 5s of 1905 due 1935 ($1,000,000 auth.,
$420,000 at last advices outstanding), the following protect¬
ive committee asks deposits of the bonds with the Girard
Trust Co. of Philadelphia as depository:
Annual Reports for Years
Fiscal
Year.
1909
1908
1907
1906
$1,688,825$102,967 $31,733 $72,128
1,563,748 76,824 31,285
93,523
2,236,953 92,560 35,749 657,986
1,772,486 69,907 31,835 497,979
1905
118,829 642,230 268,383
1,623,446 78,308 31.664 559,641
From the net earnings as above for 1908-09 ($72,128) there were de¬
ducted: Bond lnt., $111,460; provision for deprec. and replacement, $140,000, and for exhaustion of minerals, $33,871, making the net loss for the
year $213,203.
The total gross sales to the public for the year 1908-09
(including coal and coke as well as iron) were $1,913,014, on which the gross
profits were $55,615; these, added to the other Income Items above shown,
together with “miscellaneous” ($6,507), made total profits of $196,822,
against which were selling, &c., charges to a total of $124,695, leaving the
net $72,128 as above shown.—V. 91, p. 1448, 590.
New Directors.—Douglas H. Gordon and Joshua
have been added to the board.—V. 91, p. 1448, 590.
.
West End Street Ry., Boston.—To Sell Common Stock at
Auction.—The 1,049 shares of the new common stock of the
company not subscribed for by the shareholders at the recent
offering will be sold at public auction at the office of Francis
Henshaw & Co., 97 Milk St., Boston, on Dec. 14.—V. 91,
p. 1513, 872.
West Side Belt RR., Pittsburgh.—Application to Issue
Receivers’ Certificates.—See Wabash-Pittsburgh Terminal
Ry. above.—V. 91, p. 947.
Levering
Amalgamated Copper Co.—Anaconda’s Smelter Output.—
The “Boston News Bureau” on Dec. 5 said:
Official figures of Anaconda’s November output place the production of
the two smelters at 21,900,000 pounds.
Comparative Figures of Anaconda Smelter Output for Three Months (in Lbs.)
September.
October.
November.
Total.
Washoe
15,400,000
15,900,000 16,000,000 47,300,000
Great Falls
6,200,000
5,900,000 18,900,000
6,800,000
Total
—V. 91, p. 277,
22,100,000
22,200,000
21,900,000
66,200,000
216
American Agricultural Chemical Co.—Directors Reinstated.
—Robert S. Bradley and James F. Gifford, whose places
had been temporarily filled by C. B. Hobbs and J. A. Starret,
while the former were in Europe, have been reinstated.
—V. 91, p. 791, 586.
American Gas Co.,
Phila.—Earnings.—For half-year:
Mch.
April.
Mag.
June.
Total.
$55,597 $47,911 $41,556 $44,671 $40,199 $43,163 $273,097
37,032 35,464 32,888 37,630 228,099
45,892
39,188
Adding the net earnings of Phila. Suburban Gas Co. (V. 90, p.563;V.91,
p. 218, 876), said to be about $30,000 for the 6 months. Increases the
net income for the late half-year to about $303,097.
Dividends of 7%
yearly on the American company’s $2,308,500 stock call for $161,595.—
V. 91, p. 872 475
Feb.
Jan.
1910
1909
American
Naval
Stores
Co.,
Savannah,
Against Officers Affirmed.—The United
Ga.—Verdict
States Circuit Court
conviction
for viola¬
of Appeals at New Orleans on Nov. 19 affirmed the
in May 1909 of a number of the company’s officers
tion of the Sherman Anti-Trust Law, two of them being
also sentenced to terms of imprisonment (V. 89, p. 44).
The appeal was argued in Oct. 1909.
writ of certiorari to the United States
An effort will be made to
Supreme Cou^t.—V. 89. p.
American River Electric C6.,
Western States Gas & Electric Co.
West Chester Kennett & Wilmington
Robert J. Brunker, George B. Atlee and Morris Ebert, all of Philadelphia;
William S. J. Wetherill, Secretary, 119 South 4th St., Philadelphia.
The
committee Is given full power to formulate and carry out a plan of reorgani¬
zation or consolidation, but to raise funds to meet their expenses they
cannot assess the bondholders in excess of 3%
The depositary will furnish
copies of the agreement.—V. 86, p. 670.
ending Oct. 31 1905 to 1909 (not 1910.)
Iron
Profits.
Net
Total Net
Sales.
Mdse.
Rents. Earnings
Output (Tons)
Iron.
Coal.
Coke.
146,790 624,085 281,286
117,841 471,289 177,596
120,020 704,179 282,244
119,691 664,648 259,266
obtain a
44.
California.—Merger.—See
below.—V. 87, p. 1013.
Dividend.—An ex¬
in addition to the regular quarterly dis¬
has been declared on the $11,001,700
American Snuff Co.—Increased Extra
tra dividend of 3%
bursement of 5%
common
stock, payable Jan. 3 to
holders of record Dec. 15.
with 2% extra in Oct. and July last.
common dividends payable out of
the earnings of
aggregate 27%, against 20% in 1909.
This compares
The
1910
Dividend Record (Per Cent).
1903-06.
1907.
1908.
10 yearly.
—V. 91, p.
10^
13
655.
Bessemer Coke
1909.
19
1910.
1911.
20 & 4 ext. 5 & 3 ext
Co.—Bonds Called.—Nine bonds, Nos. 39
47, both inclusive, under mortgage covering Martin Plant,
dated Dec. 15 1902, will be redeemed at par and interest on
to
Dec. 15 at the
V. 87, p. 1302.
Colonial Trust Co., Pittsburgh, trustee.—
Calumet & Hecla Mining
copper output of the company
ber and the 11 months ending
Co.—Output.—The estimated
and its subsidiaries for Novem¬
Nov. 30, stated in pounds TVas:
1576
THE CHRONICLE
November
1910.
1909.
Calumet & Hecla
Osceola
AhmeekTamarack
Other subsidiaries
5,890,801
*
6,470,473
2,050,110
1,112,695
1,232,715
1,402,096
1,533,425
1,012,515
788,850
1,574,672
—11 Mos. end. Nov. 30—
1910.
1909.
73,816,056
65,326,537
17,514,855
23,885,318
10,740,516
8,362,335
10,780,461
12,115,986
16,639,922 *13,007,492
The trustees on Nov. 22 Instructed the directors to establish the
days
for payment of regular dividends within 90 days after Jan. 1 and
July 1
in each year.—V. 91, p. 520.
Citizens’ Heat & Light Co., Elwood, Ind.—Receiver.—
Judge Austin at Anderson, Ind.,
Elwood Trust Co. of Elwood
The suit
as
on
Dec. 6 appointed the
receiver for the company.
brought by James R. Moody and some 50 other former
consumers of the company’s natural gas, who
allege that although the
company ceased in January last to supply natural gas, a cash deposit of $5
a meter made by them has not been refunded.
Plans were recently adopted
for installing an artificial gas plant.—V. 87, p. 1302.
was
Citizens’ Light, Heat & Power Co.,
Johnstown.—Change
Control.—Hodenpyl, Walbridge & Co. of New York and
associates,having purchased control, caused on Dec. 7, the
in
June 30 1910. Sept. 30 1910.
Interest of the company In the gross assets
of the
sub.cos. specified in letter below, based upon
its proportionate
stockholdings In these cos.—
Fixed assets, real estate, plants,
&c., at cost,
less depreciation
$12,127,000
$13,216,261
Current assets (inventories at cost, receivables
and cash, the Sept, figures
ceeds of $15,000,000 notes)
including
t,
J£°tdl
Liabilities, either directly
or
pro¬
24,541,000
252.000
38,372,599
406,609
$36,920,000
through said sub-cos. 14,312,000
$51,995,469
14,225,105
Miscellaneous investments
-
Equity In net assets of said sub.companies
$22,608,000 $37,770,363
After setting aside sufficient cash to
pay all bank loans and matured
obligations, the companies should have about $3,000,000 of cash on hand.
eneral Motors Co.’9
Proportion of the Profits of the Subsidiary
Based on Its Present Stockholdings.
Previously Est. Now Ascertained.
For year 1908-09
$8,844,600
$9,257,152
For year ending
Sept. 30 1910
10,485,000
10,266,322
The net profits above stated
represent
profits
which
would
normally
be available for payment of
dividends, all ordinary operating and administratlve expenses having been
duly
for.
in the above valua¬
provided
Both
tion of assets and In
computing the profits, due provision has been made for
depreciation, over $1,000,000 having been set aside therefor in the two
years now reported upon.
Our final figures will not differ materially from
those given in the
foregoing statement.
Our examination has been limited to the
affairs of subsidiary motor cur
manufacturing companies, and in the above valuation of assets we have
not taken into account other
investments of the General Motors Co. which
are carried at a book
value of $7,663,940.
Abstract of Letter from Vice-Pres. W. C.
Durant, Nov. 14 1910.
Held
1
Percy Allen Rose, Joseph Morgan, J. M. Murdock.
p. 1670.
Compare V. 89,
Mgr.;
Lavelle,
(W. A. Relber is Sec.)
Cudahy Packing Co.—New Officers.—Vice-President
Ed¬
ward A. Cudahy has been elected President and Treasurer
of the company to succeed his
brother, the late Michael
Cudahy, and Joseph M. Cudahy, a son of Michael, has been
made Vice-President and also a director.—V.
90, p. 375, 305.
Cumberland Railway & Coal Co., Nova Scotia.—Sale
of
Control.—See Dominion Steel Corporation in last week’s
‘‘Chronicle,”
page
1515. .—V. 91,
p.
94.
Detroit Edison Co.—Option to Subscribe for $1,500,000
6%
Convertible Bonds.—Shareholders of record Jan. 10 1911 will
be permitted to subscribe at par, at the
company’s office,
30 Broad
St., N. Y., on or before Jan. 31, on the company’s
(to be issued Jan. 11), for $1,500,000 10-year 6%
convertible bonds, the remainder of the issue of
$3,000,000
authorized Feb. 23 1910, to an amount equal
approximately
to 25% of their respective
holdings. Subscriptions may be
paid in full Jan. 31, the bonds in this case to be delivered at
once; or 50% Jan. 31, 25% May 1 and 25% Aug. 1.
The
holders of the debentures due Sept. 1911 who convert the
warrants
same
into stock
to subscribe pro
dated
Dec.
The bonds
7
on
or
before Jan. 10 1911 will be entitled
new debentures.
A circular
rata for these
further says:
offered will be convertible between Feb. 11913 and Feb. 1
1919, attheoption of the holders, into full-paid stock of the same
par value.
The bonds are to be dated Feb. 1 1911 and will mature Feb. 1
1921: int.
now
Both prln. and int. will be payable in gold coin without
payable F. & A.
reduction.
Par $100 or $1,000 (c*), registered as to
payment of principal.
The bonds may be called by the company for redemption on or at
any time
after April 1 1915 at 105 and int. on 60 days’ notice, and when so called
for
redemption they may, at the option of the holders, provided the time for
conversion has not expired, be converted into stock as
aforesaid, at any
time before the date named for redemption.
Debentures to be Called.—The company it is
announced,,
will call for payment at par on Feb. 1
next, or shortly after¬
wards such of its $1,000,000 6% debenture
bonds, due
Sept. 1,1911, as shall not have been converted into common
stock prior to that time.
Over 25% of the issue has already
been converted.—V. 91, p. 1387, 398.
Diamond Match Co.—Authorized.—The shareholders
Dec. 4 authorized the proposed issue of
$2,000,000
on
10-year
6% convertible debentures and an increase of stock from
$16,000,000 to $18,000,000, to provide for possible conver¬
sion of bonds.
Compare V. 91, p. 1256, 1325.
Equitable Illuminating Gas Light Co. of Philadelphia.—
Bonds Called.—Two hundred and nine
($209,000) bonds of
1S98 will be paid at 105 and int. at the N. Y. Trust
Co., 26
Broad St., on Jan. 3 1911.—V. 89, p. 1485.
General Motors Co., New York.—Offering
5-Year Sinking Fund Gold Notes.—J. & W.
New York, and Lee, Higginson &
of 6% First Lien
Seligman & Co.,
Co., Boston, N. Y. and
Chicago, have sold the entire present issue of $15,000,000 6%
“first lien 5-year sinking fund gold
notes,” dated Oct. 1
1910 and due Oct. 1 1915, but redeemable as a whole
(or in
part through sinking fund) on any int. date at 1023^ & int.
Central Trust Co. of N. Y., trustee.
Par, $1,000 (c*).
Int. A. & O.
Authorized issue, $20,000,000, of which thoa
remaining $5,000 000 can be issued only when approved by
the board of directors and finance committee.
Applica¬
tion will
be made to list these notes
the entire issue has been
While
describing it is inserted for
on
the N. Y.Stock Exch.
sold, the advertisement
record purposes on another page.
Extracts from Letter of Marwick, Mitchell & Co., Chartered
Accountants,
New York, Nov. 14 1910.
Our letter of Sept. 30, which dealt with the
position of matters as at
June 30 1910 (V. 9!, p. 948), Indicated that the condition of
the companies
as at Sept. 30 1910 would
probably show an Improvement, and our subse¬
quent investigation has proved this to be the case
Since Sept. 30 1910
the company has received the proceeds of
$15,000,000 6% first lien
notes, and has paid off contingent liabilities of $600,000, referred 5-year
to In
our previous letter, thereby
completing the purchase of the stock of one
of the subsidiary companies and, in
addition, releasing to the treasury
$600,000 of its own pref. stock pledged In connection with that transaction.
ASSETS AND
LIABILITIES—GENERAL MOTORS CO.
[After adjusting the figures
as audited by us to Sept. 30, so as to take Into
account the sale of the first lien notes,
&c., as above
stated.]
Companies,
_
election of the following board and officers:
H. D. Walbridge, Pres.; H. H. Weaver, Vice-Pres. and Gen.
C. G. Campbell, Treas. John H. Waters, Jacob F. Kress, Patrick
lxxxxi
_
Total
10,800,263
12,268,088 121,002,291 130,887,217
*
Includes the Superior company for 7 months only.—V. 91, p. 465, 271.
Citizens’ Gas Co. of Indianapolis.—First Dividends.—
Dividends Nos. 1 and 2 of 1^2% each have been declared,
payable Jan. 1 to holders of record Dec. 15 on stock out¬
standing Dec. 31 1909 and June 30 1910 respectively.
[VOL.
by
Total
Capitalization—
Authorized.
Sub. Cos.
Outstand'g.
Issued.
Pref. stock, 7% cum
$20,000,000 $14,485,600 $3,552,800 $18,038,400
Common stock
40.000,000
15,788,683
4,085,347
19,874,030
6% first lien notes
20,000,000
15,000,000
None.
15.000,000
T“es® first lien notes are payable both principal and interest in gold In
N. Y. City without deduction for
taxes.
An annual cash sinking fund is
provided, payable on or before Oct. 1 in each year,
in 1911,
$1,500,000 in 1912, $2,000,000 In 1913, and $2,000,000 $1,500,000
in 1914—to be used
to retire these notes.
These payments may be Increased at
option.
Security for First Lien Notes—Company’s Entire Interest in Sub. Cos.
Con¬
__
nected
with
Motor
Car
Manufacturing
industry.
(1) The $13,300,000 6% 1st M. 5-year notes of the General
Motors Co of
Michigan dated Oct. 1 1910 and secured by a 1st mtge. to the Central
Trust Co. of N. Y., as trustee,
upon all lands, plants and equipment,
patents, &c., which the company then owned or shall hereafter
acquire.
Prior to the execution of this
mtge., all real estate, plants, other fixed
assets and patents of the
Buick, Cadillac, Olds, Oakland, Elmore,
Northway, Marquette, Rapid Motor, Reliance, Welch of Detroit, Welch
Motor, Champion Ignition, Jackson-Church-Wilcox,
Castings and Oak Park Power companies had been Michigan Motor
conveyed to the
General Motors Co. of Michigan, so
that, through the pledge of these
$13,300,000 1st M. notes with the trustee,the notes purchased
by you
are secured by a first lien
upon all of those properties, as well as by a
first lien upon the capital stocks named below.
(2) Capital stock in the following companies, whose
properties, except
as marked “x
have been conveyed to said General Motors Co. of Mich:
Total
As Se¬
Issued.
curity.
Buick Mot. Co. pref. S500.000 $498 500
Buick Mot. Co. com.2,000.000 2,000,000
Cadillac Motor Co..l,500,000 1,500.000
Olds Motor Works. .3,132,390 3,132,390
Oakland Mot.CarCo. 800,000
800,000
Total
Issued.
As Se-
curtly.
RelianceMot.Trk.Co. $481,200 $474,223
Welch Co. of Detroit 275,000
275,000
Welch Motor Car Co. 250,000
249,800
Gen.Mot.Co.ofMich. 100,000
100,000
Champion IgnitlonCo. 100,000
75,000
Elmore Mfg. Co
600,000
600,000 Jackson-Church-Wil¬
xCartercar Co. com. 557,720
cox Co
552,720
240,000
240.000
Cartercar Co. pref..
50,000
xMlch. Auto P’tsCo. 300,000
300,000
Northway Motor &
Mich. Mot.Cast'gsCo.
100,000
100,000
Mfg. Co
725,000
725,000 Oak Park Pow. Co.. 200,000
132,800
Marquette Motor Co. 793,000
793,000 xMcLaughlin Motor
^Randolph M.CarCo. 399,400
299,400
Car Co
..1,003,000
500,000
Rap. Mot. VehlcleCo. 500,000 * 500,000 xWeston-Mott Co...1,500,000
747,000
Substance of Important Provisions of Trust Deed.
While any of these notes are outstanding, none of said
subsidiary com¬
panies a majority of whose capital stocks is pledged thereunder shall
mortgage Its properties, or market or dispose of any bonds, notes or other
evidences of debt maturing three months or more from
date, unless all
such mortgage or other indebtedness Is
simultaneously acquired by the
General Motors Company and pledged with the trustee as further
security
for these notes.
None of such subsidiary companies shall issue
any
stock having preference or priority over the stock now
pledged : and
if any company stock of which is pledged
under said deed of trust In¬
creases the present amount of its stock, the General Motors
Company
must acquire and pledge, as further security for these notes, such
propor¬
tionate amount of such increased stock a,s shall be
required to preserve the
percentage of the whole now held.
While any of these notes are outstand¬
ing, the company will not distribute in cash dividends on its common stock
more than one-half of the net
profits subsequent to Oct. 1 1910 applicable
to such dividends.
The net quick assets of the companies (as carefully
defined) must always equal at least 133 1-3% of the amount of these notes
outstanding plus an amount equal to the total cash dividends, if any, paid
the common stock.
Financial Condition.—The General Motors Co. has received the
proceeds
of the above Issue of $15,000,000 first lieu notes, and from these will dis¬
charge all its outstadning Indebtedness and that of Its subsidiary motor¬
manufacturing companies (except current operating accounts), and will
then have about $3,000,000 in cash on hand.
Since Sept. 30 1910 a cash
dividend of 3
on the pref. stock has been
declared, payable Nov.30 1910.
on
Management.—A majority of the company’s outstanding pref. and com¬
stock has been deposited under a voting trust agreement with James
N. Wallace, Frederick Strauss, James J. Storrow, William C. Durant and
Anthony N. Brady, voting trustees.
Directors: Anthony N. Brady, James N. Wallace, J. H. McClement
and Albert Strauss of New York; Emory W. Clark, Andrew H. Green Jr.,
M. J. Murphy and Thomas Neal of Detroit; James J. Storrow of Boston,
W. C. Durant of Flint, Mich., and N. L. Tilney of Orange, N. J.
Finance Committee: Emory W. Clark, W. C. Durant, Andrew H. Green
Jr., M. J. Murphy, Thomas Neal, James J. Storrow and Albert Strauss.
mon
Gross
The gross sales of the
ing Oct. 1 1909
Do
Sales
and
Net
Profits.
subsidiary companies during the
were
year
approximately
for the year ending Oct. 1 1910
were
approximately
end¬
$34,000,000
58,500,000
The equity of General Motors Co. in the net profits of Its subsid¬
iary companies amounted in the year 1908-09 to
$9,257,151
Do
in the year ending Sept. 30 1910
10.266,322
The companies manufacture 12 different makes of pleasure and com¬
mercial motor vehicles, inchiding high, medium and low-priced cars,
viz: Cadillac. Buick, Oldsmobile, Eimore, Oakland, Cartercar,Rainier,
Welch, Welch-Detroit, Rapid Truck. Reliance Truck, Randolph Truck.
[The form and validity of the deed of trust and notes, we are in¬
formed, have been passed upon by the counsel for the bankers, Messrs.
Cravath, Henderson & de Gersdorff of New York and by Messrs .Stevenson,
Carpenter & Butzel of Detroit, counsel for the company.
Messrs. Fish,
Richardson, Herrick & Neave of Boston have also approved the form of the
notes and the provisions of the deed of trust.—Ed.]
Removal of Office.—The company’s executive offices, it is
announced, will be moved from New York to Detroit in
order to centralize operations and effect more economical
results.—V. 91, p. 1449, 1387.
'
Granby Consolidated Mining, Smelting & Power Co.—
Dividends Resumed.—A dividend of 1% has been declared
on the $14,850,000 stock, payable Dec. 30 to holders of
record Dec. 14.
The last previous distributions were 2%
each in Dec. 1909 and June and Dec. 1908.
Deo. 10
(Per Cent).
1906 to Sept. 1907.
1908.
12 y’ly (3 quar.). 4 (J.&D.)
Dividend Record
1903.
1904-05.
1
None.
1577
THE CHRONICLE
1910.!
1909.
1910.
2 (Dec.) 1 (Dec.)
Purchase.—The Victoria correspondent of the “Engineer¬
ing and Mining Journal” of N. Y. says (issue Dec.
9):
Smelting & Power Co. recently made arrange¬
of the capital stock of the Hidden Creek Copper Co.
for $400,000, and part, payment has been made.
The remaining 20% Is
held by M. K. Rodgers of Seattle, Wash.
The Hidden Creek Copper Co.’s
group of nine mineral claims is near Goose Bay, Observatory Inlet, B. C.,
the latter inlet being an arm of the Portland Canal.
No work has been
The Granby Consol.
ments to purchase 80%
prior to that about 1,000 feet of
feet of open-cut work done. This
copper-sulphide ore, much of It running from
in gold and silver. It is a favorable
of Iron over silica. The ore zone has
length and from 200 to 500 feet in width.
Available ore Is estimated at 400,000 tons.—V. 91, p. 1250, 948.
Great Western (Beet) Sugar Co.—Control.—See American
Sugar Refg. Co. on a preceding page.—V. 91, p. 156.
done on the claims for about a year, but
tunneling was driven and about 1,500
work opened a large body of
4 to 8% copper and $1 to $3 per ton
ore for smelting, containing an excess
been opened for 2,000 feet In
Hudson County (N. J.) Water Co.—Suit by Receivers.—
Harry Hubbard and William N. Leonard, as
receivers,
United States Circuit Court against
set aside the Acts of 1909
carrying out of the company’s con¬
Island (Richmond Borough).
have brought suit in the
the New Jersey State authorities to
and 1910 preventing the
tracts to supply water to Staten
The Acts are claimed to be unconstitutional on the ground that they are
an Inhibition against the exportation of an article of commerce (water),
and that they impair the obligation of contracts.
The action of the State
officials. Including the forcible prevention of the laying of pipes under the
$279,282; depreciation in sundries, $104,667;
surplus, $110,088; total surplus, $284,703.
V. 91, p. 1451
balance, $174,615; previous
Compare V. 90, p. 1169.—
Oklahoma Natural Gas Co.—First Dividend.—An initial
quartely dividend has been declared on the $4,000,000 capi¬
tal stock, payable Dec. 31 to holders of record Dec. 9.—
V. 90, p. 1486.
Phelps, Dodge & Co.—Copper Production.—The production
of copper ore by the Copper Queen, Detroit and Moctezuma
mines, owned by Phelps, Dodge & Co., for eleven months
of this year, viz., Jan.-Nov., was 108,113,873 lbs., as com¬
pared with 114,891,017 lbs. for the same period in 1909,
as
follows:
Pounds.
1910.
1910.
1009.
10,519,336
10,633,620 11,389,569 July
9,887,618
8,653,166 10,253,448 August
9,786,726 10,789,066 September ___10,116,773
9,320,991
9,480,150 9,837,226 October
9.759,005
10,038,177 10,281,778 November
Pounds.
January
February
March
April
May
Q Q1 O 11 1
Tnnp
1909.
,650,562
,727,358
,288,819
,630,065
.763,905
1 n 970 991
___108,113,8731 14,891,017
eleven months-Custom ores business added a further amount for the current year of
20,254,793 pounds In 1910.—V. 91, p. 720, 280.
Extra Dividend.—An extra dividend of 2% (the same
amount as a year ago) has been declared,
Total
(pounds)’for
together with the
2i^% quarterly disbursement maintained since
March 1909, both payable Dec. 30 to stock of record Dec. 20.
—V. 91, p. 720, 280.
Pittsburgh (Land) Company.—Bonds Called.—Five 1st M.
Kill von Kull, It is claimed, constitute an unlawful seizure of the com¬
coll, trust bonds dated July 1 1899 have been called for re¬
pany’s property without compensation, in violation of the Federal Con¬
stitution.
An injunction is asked for preventing the State officials from
demption on Jan. 1 at par and int. at the Guaranty Trust
interfering with the carrying out of the contracts.—V. 90, p. 1242.
Humboldt (Cal.) Gas & Electric Co.—Merger.—See West¬ Co., New York.—V. 90, p. 1682.
Pure Oil Co.—Dividend Reduction Explained.—Treasurer
ern States Gas & Electric Co. below.
W. W. Tarbell
in a statement accompanying dividend
Intercontinental Rubber Co.—Stock Retired—The direc¬
checks Dec. 1 says:
tors on Dec. 5 voted to retire on Jan. 1 25% of the $2,000,000
There is upwards of $400,000 pref. stock expiring during 1911.
As
outstanding pref. stock, reducing the amount to $1,500,000. this is an obligation that we must be prepared to meet, it has been consid¬
Second Common Dividend.—The company has declared the ered advisable by the directors that the quarterly dividend, payable Dec. 1,
be reduced (from 2%) to 1 H%.—V. 91, p. 1451.
regular quarterly dividend of 1 %% on the pref. stock, pay¬
Shawinigan Water & Power Co.—New Stock.—It is com¬
able Jan. 1 to holders of record Dec. 20, and a dividend of
monly
reported that the company is preparing to issue
1% on the common stock, payable Feb. 1 to holders of record
Jan. 20.
The first dividend of 1% on the common stock was $500,000 new stock, possibly at a small premium.—V. 91,
p. 877, 721.
paid Oct. 15 last (V. 91, p. 657).
Southern California Edison Co.—Bonds Called.—One hun¬
The net earnings of the company for the quarter ended Oct. 31 amounted,
it is stated, to over $1,100,000.
It was also stated that the business of the dred and twenty-five ($125;000) Edison Electric Co. 1st and
company continues good and notwithstanding a shrinkage in the prices
ref. M. 5% bonds, dated Sept. 1 1902 (Nos. 312 to 436, both
of rubber generally, the contracts which the company has already entered
into for 1911 Insure a profitable year, as 75% of its product is already sold
have been called for payment at 110 and interest
for next year at approximately this year’s prices.
An official statement inclusive)
on March! 1911 at the United States Mortgage & Trust Co.,
says: “During the year 1910 the company has paid all of Its arrears in pref.
stock dividends amounting to over $700,000 and retired, including the stock
55 Cedar Street,, New York.—V. 91, p. 1517.
retired Jan. 1 next, $2,700,000 of the pref. stock outstanding, thereby
reducing its pref. stock dividend requirements from $294,000 to $150,000
Spanish-American Iron Co.:—Bonds Called.—One hundred
regular
,
and thirty-two ($132,000) first mortgage 20-year sinking fund
elected a director 6% gold bonds due July 1 1927 have been drawn for redemp¬
91, p. 1515, 1388.
tion on Jan. 3 at par and int. at the office of the Girard Trust
Kankakee Gas & Electric Co.—Bonds Offered.—P. W. Co., Philadelphia, trustee.—V. 90, p. 1682.
Brooks & Co., New York and Boston, are offering the balance
Spreckels Sugar Co. of California.—Status.—See Am.
of an issue of $450,000 of this company’s 5% bonds at a price Sugar Ref. Co. on a preceding page.—V. 65, p. 278; V. 68,
of 95 and int.
This issue is a “first and refunding mortgage” p. 430.
upon the lighting plants in Kankakee, Ill., which supply,
Superior & Pittsburgh Mining Co.—Plan.—See Calumet
without competition, all the gas, electric light and power
& Arizona Mining Co. above.—V. 91, p. 274.
for the entire city.
The population served is 25,000. The
Swift & Co.—Only Part of New Stock to be Sold at Present.—
property is at present earning, it is stated, three times the An official is
quoted as saying that the company will not
interest charges on the bonds.
See further particulars in offer at
present all of the $15,000,000 new stock to be au¬
V. 91, p. 875, 720.
thorized on Jan. 5.
The amount of the offering, it is thought,
Long Acre Electric Light & Power Co., New York.—Mort¬ will not exceed $10,000,000.—V. 91, p. 1517, 721.
gage Held Invalid.—Justice Whitney in the Supreme Court in
Temple Iron Co.—Adverse Decision.—See editorial re¬
this city on Dec. 7 held that a mortgage for the authorized
marks on a preceding page; also Lehigh Valley RR. item
amount of $350,000,000, which was claimed to be a lien
above.—V. 78, p. 2015.
against the company’s electric-light franchise, .should be
Tennessee Copper Co.—Bonds Offered.—William Salomon
adjudged invalid and removed from the record.
& Co., New York, are offering at 100 and int. a block of the
The decision was i*cndered in the suit brought against John D. Moore
and the Anti-Monopoly Co.
None of the defendants, it is held, has any new 1st M. 6% gold bonds, total auth. issue $1,500,000,
right, title or interest to the franchise, which was originally held by M. F.
dated Dec. 1 1910 and due in annual installments each Dec. 1
Mintur.
No bonds, it is reported, have been issued under the mortgage.—
V. 91, p. 1450, 875.
from 1911 to 1917, as follows: 1911 and 1912, $150,000 yearly;
(W. J.) McCahan Sugar Refining Co., Philadelphia.— 1913 and 1914, $200,000 yearly; 1915 and 1916, $250,000
Status.—See Am. Sugar Refe. Co. on a preceding page.— yearly; 1917, $300,000, but redeemable as an entire issue at
V. 71, p. 88.
103% and int. on any interest date on 60 days’ notice. Total
Par $1,000 (c*). Guaranty Trust Co.
Macon (Ga.) Gas Light & Water Co.—Arbitrators Fix issue, $1,500,000.
Int. J. & D.
Price on Purchase by City.—See “Macon, Ga.” in “State and of New York, trustee.
a
year.”
New Director.—Giles
to fill a vacancy.—V.
W. Mead has been
City” Dept.—V. 91, p. 792.
Mexican Light & Power Co., Ltd.—Listed in London.—
The London Stock Exchange has listed $1,500,000 additional
7% cumulative pref. stock, making the total listed $5,400,000.—V. 91, p. 1331, 399.
Michigan Lake Superior Power Co.—Agreement Operative.
—The Pitcairn committee on Nov. 30 announced that the
proposed agreement between the committee and the Lake
Superior Corporation, dated Oct. 25 1910, has become
operative, it having been unanimously approved by the de¬
positing bondholders. See V. 91, p. 1445, 1516.
Michigan Sugar Co.—See American Sugar Refining
a preceding page.—V. 91, p. 1331.
National Sugar Refining Co.—Control.—See Am.
Refining Co. on a preceding page.—V. 90, p. 450.
Co. on
Sugar
in¬
about
audit
O’Gara Coal Co., Chicago.—Earnings.—The company
forms us that the following statement published on or
Dec. 1 is “not for the year ending Oct. 31,
an
but for
period ending at that date and in excess of one year.” [The
long-continued strike at the mines in Illinois last summer
seriously affected the results.—Ed.]
$4,104,170; cost of coal sold, $3,225,591; general expen¬
ses, $354,061;
net profits, $524,518; other income, $155,946; total
Income, $680,464; deductions, $55,313; fixed charges, $345,869; net
Gross earnings,
net
profit.
18 1910. •
funded debt
other corporate
purposes.
Arrangements have been made to call in both the 1st M. 5%
bonds and the 6% notes.
The new mortgage will provide that dividends
the stock shall be paid only out of net income accumulated subsequent
Abstract of Letter from President Lewisohn, New York. Nov.
These bonds will provide funds to pay the present entire
($350,000 1st M. 5% bonds) and $600,000 6% notes,and for
on
to Dec. 31 1909, at
which date the surplus was
$1,263,792.
which Jtie
Tangible Assets at Book Value Aggregating $8,000,000, on
$1,500,000 New Bonds are a Closed First Lien.
Real estate, plants, equipment, ore lands, &c., believed to have
an actual value of $10,000,000; book value Dec. 31 1909
$6,738,279
Net current assets Dec. 31 1909 (cash, accounts receivable, in¬
ventories, &c., after deducting current liabilities)
Expenditures made during 1910 for completion of new acid
Earnings Available for Interest Charges ($90,000 on $1,500,000 New Is/
1903
1904.
1906.
1907.
1908.
1909. Avg 8 yrs.
1905.
$450,065 $216,996 $494,781 $852,828 $830,674 $363,174 $402,656
out
During the 8-year period, 1902 to 1909, the company
surplus earnings $2,306,250 in dividends and added to its
067.
Capital stock outstanding, $5,000,000, in $25 shares.
averaging 7% per ann. have been paid for the 7 years since
on results for first 10 months, the total earnings available for interest for
1910 should be about $485,000.
The property is located in Polk Co., Tenn., an Important copper
and comprises: (a) Smelting plant, with 7 furnaces and power
of brick and steel, annual capacity 20,000,000 lbs. of copper; (b) acid plant,
now producing at rate of about 112,000 tons of sulphuric
per annum;
(c) over 12,000 acres of mineral and timber lands owned In fee:
mines, with an aggregate dally capacity of 2,000 tons of ore; (e)
miles of standard-gauge railroad connecting with L. & N. RR., 5 locomo¬
Net
682,039
580,000
6s.
plant
$485,192
distributed
of
surplus $1,208,Dividends
1903. Based
territory,
buildings
acid
tives and 69 ore cars.
With the completion
1911 the
doubling
Upon the business has been chiefly mining
present capacity.
smelting.
Upon completion of the new unit of the sulphuric-acid
annual capacity
the
and
(d) three
about eight
of the new acid plant on or before Jan. 1
will be increased to 225,000 tons of sulphuric acid,
1578
THE CHRONICLE
plant, this plant, costing about $1,750,000, will be the
largest of lts
kind In the world and should
produce sulphuric acid at a cost lower than
$2 25 per ton.
Based on an annual output of 200,000 tons of 60-degree
acid at $5 25 per ton
(long-time contracts for the sale of
having been made at or above this price) and an annual large amounts
production of
about 14,000,000 lbs. of copper at the low
price of 13 cts. per lb., and mak¬
ing allowance for other revenues, the net profits are estimated
next year at
$1,000,000 per annum against an annual Interest charge of $90,000. The
manufacture of fertilizer In recent years has
greatly increased the demand
for sulphuidc acid.
[As to important contract see International Agricul¬
tural Corporation, V. 91,
p. 1515—Ed.]
See also annual report in V, 91,
p. 272.—V. 91, p. 1451.
Utah-Idaho
LXXXXI.
No additional “first and
refunding” 5s can be issued,
of new
property acquired; (b) when net earnings for the except (a) for 80%
preceding 12 months
are double the
interest on all outstanidng
including the contemplated
Issue; (c) when deposited as collateral for bonds,
this note issue (limited to
$2,500,000) In the ratio of $250 bonds to $200 notes.
Condensed Extracts
from Letter of
The capitalization and
Capitalization—
Underlying
bonds
H-year gold 6% notes*
Preferred stock
Common stock
Pres. H. M. Byllesby Nov. 28 1910.
earnings of the property appear from the following:
Authorized.
Outstanding.
Closed
2
Texas Company.—All Sold.—The stock offered
by Hallgarten & Co. and Harris, Winthrop & Co., it is announced,
has been sold.
Compare V. 90, p. 1494.—V. 91, p. 960.
Union Stock Yards Co. of Baltimore.—Called Bonds.—
Eleven first mortgage 5% gold
bonds, secured by mortgage
to the Safe Deposit & Trust Co. of
Baltimore, as trustee,
dated Dec. 15 1898, will be paid
at par and interest at the
Western Nat. Bank of Balt. Jan. 1 1911.—V.
89, p. 1487.
United Box Board Co., Chicago.—New
Officer.—Hyatt
Cox, Vice-President and Treasurer of the United Box Board
Co., Treasurer of the American Strawboard Co., and a
director in both companies, has
resigned, and has been suc¬
ceeded by Gustav Wuerst as Treasurer of both
companies
and director of the Box Board Co.
The vacancy in the
board of the Strawboard Co.' has not been filled.
The
appointment is said to be temporary.—V. 91, p. 1518.
IVoi..
$2,568,000
2,000,000
1,500,000
1,500,000
$2,500,000
10,000,000
5,000,000
*
Secured by the deposit in escrow, with suitable
restrictions, of $2,500,000 of a total authorized issue of
$10,000,000 1st and refunding 5% bonds.
Earnings for 12 Months ending Sept. 30—
1908-09.
1909-10"
Gross earnings
*$677,642
$737,641
Net earnings from
operation
$358,170
$406,884
Fixed charges
(underlying bonds)
$135,00(1
Interest on above $2,000,000 6% notes will be
120,000
Balance after present charges on basis of
earnings for 1909-10.
$151,884
_
*
Richmond earnings for 12
mos.
As a result of the expenditure of
the consolidation, the net
ending Sept. 30 1909
are
approximate.
funds and the economies effected
by
earnings for the calendar year 1911 should reach
the
on
$2,000,000 6% notes will thus be earned
new
$550,000, and the charges
about 3 H times.
The company
develops electric power aggiegating 7,000 h. p. from hydro
plants and electric power aggregating 7,650
h.p. from steam plants.
It
has excellent contracts,
through which it acts as distributor and retailer of
power, sold it by the Pacific Gas & Electric
at Richmond and at StockCo.,
ton, in addition to the power distributed from
the company’s own generating
plants.
The company also manufactures and
distributes gas In Stockton
and Eureka.
Sanderson & Porter have passed upon the franchise
situa¬
tion and find that lt is
entirely
We estimate replacement value of satisfactory to the company’s Interests.
properties
to be in excess of $4,917,929.
The company is controlled
by the Standard Gas & Electric Co., which Is
in turn controlled and operated
by H. M. Byllesby & Co.—V. 91, p. 1518.
(Beet) Sugar Co.—History—Control.—See
Sugar Ref. Co. on a preceding page.—V. 90. p. 918
Western Electric Co., N. Y. and Chicago.—Bonds
Offered.
—Lee, Higginson & Co., N. Y., Boston and Chic., and HigWhitney Company, North Carolina.—Date of Sale.—
ginson & Co., London, offered for subscription this week at Special Master A. H. Price, at the request of R. P. Neilson
and J. D. White, of New
par and int. $6,250,000 1st M. 5% gold bonds, dated Dec. 30
York, representing the trustees, has
1909 and due Dec. 31 1922, but callable as a whole or in
ordered the sale of the
company’s property at auction on
part
on any interest date after 1911 at 105
and int.
Int. J. & J. Dec. 15.
Compare V. 91, p. 1188.
in Chic, and N. Y.
Par $1,000 (c*).
Outstanding, includ¬
Youngstown Iron & Steel Roofing Co.—New Name, &c.—
ing bonds now offered (closed mortgage). $15,000,000.
The name is now Youngstown Iron & Steel Co.
Am.
Condensed Extracts from Letter of Pres. H. B. Thayer,
N.Y., Dec. 1,1910.
The company 13 controlled
by the American Telephone &
through ownership of more than 80% of its $15,000,000 Telegraph Co.
capital stock.
It is the largest manufacturer of
telephonic apparatus in the world
and the largest distributer of electrical
supplies In the United States.
Its undivided surplus (earned) Nov. 30 1909
was $17,436,786.
The pro¬
ceeds of these $6,250,000 bonds will be used in
part to retire the $5,000,000
4 HVo 2-year notes,which have been
duly called for payment on Jan. 1 1911.
The company will then be free of all debt
except these $15,000,000 bonds
and will have ample
working capital, Including about $3,000,000 cash.
Sales and Profits for Years 1908-09 and
Avg.for 6 Years ending Nov. 30 1909
1908-09.
Avg. 6 Yrs.
Gross sales were.:
$45,575,138 $46,076,000
Net profits applicable to Interest charges
2,404,010
3,192,965
Interest on funded debt, Including
$6,250,000
bonds now sold, calls for___
$750,000
750,000
Cash dividends were paid averaging
7.29% per annum from 1881 to 1895
and 8% yearly since that date.
The book valuation of real estate and
plants in N. Y. and Chicago cov¬
ered by the mortgage (the actual cost exceeded
$18,500,000) was on Nov. 30
1909 $9,552,377, and the total net assets,
after deducting current liabilities,
were $34,464,610.
The sale since Nov. 30 1909 of these
$15,000,000 bonds
has provided for the payment of all
floating debt and has increased the above
net assets to about $49,000,000 (net cash
and quick assets alone amount
to about $36,000,000).
Against these net assets the only Indebtedness
consists of these $15,000,000 1st M. 5s.
The fiscal year heretofore
ending on Nov. 30 has been changed to end on
Dec. 31.
While no absolute statement of the current
year’s profits can be
made until after Dec. 31, it Is safe to
say that as regards net profits, as well
as net assets, the condition since
Nov. 30 1909 has shown a material Im¬
provement as compared with the figures above
given.
The gross sales during the 12 months
ending Nov. 30 1910 have been at
the rate of about $61,000,000, as
compared with $45,575,000 for year end¬
ing Nov. 30 1909.
On Nov. 1 1910 there were about
24,000 employees on
the company’s pay-roll.
Compare previous offering, V. 90, p. 307.
Notes
Called.—The $5,000,000 2-year
4J^% collateral
gold notes have been called for redemption
on Jan. 1
1911 at
100^'
(par
and
at the Man. Trust Co., N.Y.
int.)
Extra Dividend—Dividend Period
Changed.—On account
of the change in the end of the fiscal
year, formerly Nov. 30,
so as to
correspond with the calendar year, the company has
declared a dividend of 1
1-3%, covering the months of No¬
vember and December, or two-thirds of the
regular quarterly
rate of 2% as maintained since
1896, and also an extra divi¬
dend of 2%, the first extra cash
distribution during the
period mentioned.
trust
Hereafter quarterly dividends will be
paid March 31, June 30, Sept. 30
and Dec. 31 instead of Feb.,
May, Aug. and Nov.
The annual meeting of
the stockhold9r3 will be held on the
first Tuesday in April.—V.
Western States Gas & Electric Co.—Notes
Rollins & Sons, N. Y.,
Bost.,
91, p. 731.
Offered.—E. H.
Chic., Denv. and San Fr.;
White, Weld & Go., N. Y., and Montgomery, Clothier &
Tyler, Phila., are offering at par and int. $2,000,000
6% gold
coupon notes.
Authorized, $2,500,000; issued, $2,000,000.
Dated Dec. 1 1910 and due June 1
1913, but callable in lots
of $100,000 or over, at 101 and
int., on any interest date,
upon 60 days' notice.
Fidelity Trust Co. of
Int. J. & D. in N. Y., Phila. and San Fr. Phila., trustee.
Tax-exempt in
Pennsylvania. A circular
says
in substance:
The company was
incorp. Nov. 25 1910 (V. 91, p. 1518) as a consolida¬
tion of the Humboldt Gas & Electric
Co., Stockton Gas & Electric Corp
(V. 88. p. 886), Richmond Light & Power Co.
(V. 91, p. 1517) and Ameri¬
can River Bleotrio Go.
(V .82, p. 1498; V. 87, p. 1013).
The notes offered
are secured by
pledge of $2,500,000 “first and refunding”
5% bonds,
part of an auth. issue of $10,000,000 bonds secured
as an absolute
first
mortgage on the property of the Rich. Lt. & Power
Co., and as a refunding
mortgage subject to underlying liens
aggregating
$2,568,000
on
the
three
other merged properties.
Serves a total population of about
75,000, in
Richmond,
Eureka, Placerville, Florin, Elk Grove, Lodi, GaultStockton,
and other towns in
Humboldt, San Joaquin and adjacent counties in
In
California,
districts
growing with great rapidity. Manufactures and
distributes
electric current
derived from hydro and steam
and also manfuactures and
distributes gas in Stockton and installations,
Eureka.
The total cost of these assembled
properties Is over $2,900,000 In excess
of the underlying bonds.
Thus the notes represent about
66% of cost.
The balance of cost has been met
by the sale of $1,500,000 of pref. stock
to the Standard Gas & Electric
Co., which company, by supplemental in¬
denture dated Deo. 1 1910,
agrees to purchase a further amount of
pref.
stock for $500,000 cash, prior to June
1 1911, for use in
extensions, &c.
Thus, the cash equity following this note Issue
will be Increased to approxi¬
mately $1,500,090 on or before June 1 1911.
■
Extensive improvements, it is said, are
being made at the Youngstown
plant, doubling the capacity of the works and
increasing facilities for
handling business. See article in “Iron Age” of N. Y.. Dec. 1 1910.—
V. 83. p. 1541.
—The second annual
convention of
the managers and
department heads of H. M. Byllesby & Co. and affiliated
companies will be held at the Congress Hotel, Chicago,
Jan. 17-20 inclusive.
Byllesby & Co., which has head¬
quarters at Chicago, operates, and manages a considerable
number of electric, gas and street
railway properties in the
West
and South.
several
Since the first convention, held last
year,
properties have been added to the list and the former
attendance of 200 will be largely increased.
At a recent
meeting of a committee of managers preliminary arrange¬
ments were made for a
four-days’ program, to be devoted to
technical and profsesional subjects.
It is the belief of Presi¬
dent Byllesby that the annual
meeting and interchange of
ideas among managers and
department heads accomplishes
much towards improving the service offered the
public in
the various cities where utilities are
operated by this or¬
ganization.
—On Jan. 1, prox., a new
brokerage firm will begin busi¬
ness in
Chicago, with offices in the Rookery, viz., Carter,
Shimmin & Douglass.
The firm will have memberships in
the Chicago Stock
Exchange and Board of Trade. Ford R.
Carter is Vice-Chairman and a member of the
Board of the local Stock
Exchange; he was
Governing
formerly associ¬
prominent brokerage house of Granger Far-
ated with the
well & Co.
Robert P. Shimmin has for ten years been a
trader on change for S. B. Chapin & Co.
John W. Douglass
acquired his brokerage experience with Knight, Donnelley
& Co., S. B. Chapin & Co. and other active
Chicago Board
of Trade houses.
In brief, this new firm is a combination
of youth, experience and
energy.
—Attention is called to the advertisement
on
of the
another page
offering by George H. Burr & Co. of the McCrumHowell Co. 7% cumulative preferred stock.
The official
statement regarding this company was
given at length in
the last issue of the “Chronicle”
bonded
on
page
1450.
There is
no
indebtedness, as will be noticed in the balance sheet
published in the advertisement, and the company is paying
dividends at the rate of 3% on $3,500,000 of common stock.
The unsold portion of the preferred stock is offered at
par
with a bonus of 10% of common stock.
—Edward V. Kane & Co., the Philadelphia investment
bond dealers, want to buy Danville Urbana &
Champaign
5s, due 1923; Decatur Ry. & Lt. Co. consolidated 5s, due
1933; Toledo Fremont & Norwalk 5s, due 1920, and Decatur
Gas & Electric consolidated mtge. 5s, due 1930.
Address
inquiries to Edward V. Kane & Co., 610 Morris Bldg., Phila.
—Dominick & Dominick, 115 Broadway, this
city, will
buy or sell United Bank Note Corporation preferred and
common stock,
International Nickel 5% bonds and pre¬
ferred stocks.
Dominick & Dominick are specialists in these
securities.
—A. B. Turner & Co., 24 Milk St.,
Boston, Mass., have
issued their “Special Stock Bank and Trust
Company
Circular” for the month of December, a useful
compilation
of 18 pages, covering chiefly
cotton-manufacturing and
other securities best known on the Boston market.
—John E. May, formerly with Bond &
Goodwin, has be¬
a member of the firm of Curtis &
Sanger, and will be
come
its
Chicago
manager.
.
Dec. 1C
COTTON.
Hiroeg.
COMMERCIAL EPITOME.
Friday Night, Dec. 9 1910.
With big crops of grain, high prices for cotton and money
comparatively easy, wholesale trade is of fair proportions
under the curb of a conservative policy; and retail business,
favored by seasonable weather, presents a not uncheerful
aspect. The country as a whole is feeling its way rather
than
taking chances.
LARD on the spot has been firmer, owing to a rise in the
market for live hogs and small offerings of product.
Trade
has been quiet.
Prime Western 10.30c., Middle Western
10.25c. and city steam 9^@10c.
Refined lard has been
quiet and firm. Continent 10.60c., South American 11.50c.
and Brazil in kegs 12.50c.
The speculation in lard futures
here has been dull and featureless.
At the West the trading
has been active and prices have moved irregularly within
comparatively narrow limits. There has been buying at
times on moderate arrivals of live hogs and a stronger market
for hogs.
Leading packers have purchased. On the other
hand, liquidation has been noticeable at times and there has
been some selling on weakness of late in corn.
DAILY CLOSING
PRICES OF LARD FUTURES IN NEW YORK.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
10.15
10.10
10.33
10.00
10.10
10.12
January delivery—
10.00
10.10
10.05
10.15
10.00
...10.00
May delivery—
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Mon.
Wed.
Thurs.
Sat.
Tues.
Fri.
January delivery
9.87)^ 10.05
9.87^ 9.87 H
10 10
May delivery
9.72H 9.90
9.75
9.77H 9.771^ 9.92H
9.87^
PORK on the spot has been quiet
$19 50, clear $21 @$22 50 and family $24
and steady. Mess
50. Beef has been
quiet and easier, with larger offerings. Mess $14 50@$15,
packet $16@$16 50, family $18 50@$19 50 and extra India
mess $30.
Cut meats have ruled steady, with trade small.
Pickled hams, regular, ll^@14c.; pickled bellies, clear,
143^@17^c., and pickled ribs 13%@15J^c. Tallow has
been quiet and steady; city 7^c.
Stearines have been dull
and easy; oleo 9 3^@ 10c. and lard 11 He.
Butter has been
quiet and easy; creamery extras 29 @29 He. Cheese has
been quiet and'steady; State, whole milk, colored, Sept.,
fancy, 15 Hc* Eggs have been quiet and firmer; receipts
light; Western firsts 35@37c.
OIL.—Linseed has been steady.
The raw material has
weakened of late, despite small arrivals of seed, a fact which
has made consumers of product purchase sparing^.
City,
raw, American seed, 95@96c.; boiled 96@97c. and Calcutta,
raw, $1 03.
Cocoanut has been quiet and easy; Cochin
103i2@10%c.; Ceylon
Olive has been quiet and
steady at 90@95c. Corn has been active and steady at
7 @7.05c.
Cotton seed has been moderately active; winter
7.25@8c.; summer white 7.10@7.90c. Cod has been in good
request at an advance in prices; supplies light; domestic
53@55c. and Newfoundland 55@58c.
COFFEE on the spot has been firmer.
There has been
increased buying by interior dealers of late, but the pur¬
chases as a rule have been limited to small lots.
Rio No. 7,
133^@13^c.; Santos No. 4, 13H@14c. West India growths
have been in moderate demand and firmer; fair to good
Cucuta 14%@14%c.
The speculation in future contracts
has been active with frequent and at times sharp fluctuations.
Early in the week the drift of prices was upward in the main,
owing to strong cables from Europe and Brazil and buying
for local, outside and foreign account.
Of late, however,
the tendency has been reactionary, owing to heavy liquida¬
tion.
Also a report current at one time that 600,000 bags
of valorization coffee had been sold in the French market
has been denied.
Closing prices were as follows:
December
10.95c. April
January
10.90c. May
10.88c. June
10.86c. July
February
March
1579
THE CHRONICLE
1910.]
...
10.78c. August
10.70c. September
10.63c. October
10.56c. November
SUGAR.—Raw has been firmer and more active.
10.51c.
10.46c.
10.37c.
10.37c.
Friday Night, December 9 1910.
THE MOVEMENT OF THE CROP as indicated by our
For the
telegrams from the South to-night is given below
week ending this evening, the total receipts have reached
400,593 bales, against 432,629 bales last week and 393,380
bales the previous week, making the total receipts since
Sept. 1 1910 4,916,634 bales, against 4,485,659 bales
for the same period of 1909, showing an increase since Sept. 1
1910 of 430,975 bales.
Sat.
Receipts at—
Tues.
Wed.
16,630
34.344
22,895
14,833
Galveston
Port Arthur
Texas City, &e._
New Orleans
13,575
16,384
6,621
2.219
3 870
18,134
14,787
3,963
2,266
Mobile
Pensacola
Savannah
Brunswick
Charleston
10,305
11,310
3,205
2,333
Georgetown
Wilmington
128
128
3,489
11,578
2,255
2,444
17,064
84,025
2,255
17,325
1,582
10,632
17,800
3.028
2,541
67,628
17,800
16,136
663
639
4,669
3,109
10,416
36,013
16,521
2,563
-----
8,107
10,766
16,508
1
3,744
1,614
2,387
7,466
1,065
7,371
2,212
■
.
Norfolk
2,127
7,090
3,235
6,308
619
5
811
N’port News, &c.
New York..
Boston
Baltimore
_
1
—
—
Since Sep
1 1910.
This
week.
121,018 1,776,755
Galveston._
128
77,977
Port Arthur
139,470
17,064
Texas City, &c_.
704,579
84,025
New Orleans
_
6,205
147,717
2,255
17,325
_
Mobile
34.970
&c.
_.
Georgetown
Wilmington
*
Norfolk
84,492 1,559,332
61,600
14,699
783
22,563
595,504;
21,272
7,981
147,646
7,455
850
78,959
23,942
1,881
25,610 1,029,0801
948
172,992
169,600
4,909
|
with
1909.
203,640
199,610
222,118
6,205
67,747
142,272
728
46,241
—
656
25
632|
______
10,416
36,013
6,954
18,162
246,249
323,954
33,328
34,225
685
52
147
7,695,
2,821
4,984
292,566
359,077
2,497
2,366
13,222
51,077
50
50
289
100
128,368
10,592
42,115
172,492
24,634
40,597
14,762
35,587
-
237,0751
15,583
5,150
128,611
2,753
17,403
1,914
400,593 4,916,634 190,910 4,485,659 1,064,341
770,946
Boston
Baltimore!
Philadelphia
Total
1910.
13,275
937,977
139,891
216,307
.
.
Since Sep
1 1909.
This
week.
total
Stock
2.541
67,628
17,800
16,136
N’port News, &c.
New York
_.
78,165 400,593
1909.
1910.
Dec. 9.
50
the week’s total receipts, the
the stocks to-night, compared
The following shows
since Sept. 1 1910, and
last year:
Receipts to
2,821
4,984
—
51,709
61,149
86,781
52,082
70,707
Totals this week
385
235
289
100
289
45
368
50
403
4,984
50
Pensacola
Jacksonville,
Savannah.
'
_
_
Philadelphia
Brunswick
Charleston
15,795 121,018
16,521
j
!
959
Jacksonville, &c.
Total.
Fri.
•
'
Gulfport
Gulfport
Thurs.
Mon.
1,986
2,818
4,25ft
30,243
1,547
602
—
comparison may be made with other years,
give below the totals at leading ports for six seasons:
In order that
we
Galveston
Pt. Arthur, &c.
New Orleans.
Mobile
Savannah
Brunswick
Charleston, &c
Wilmington
-
_
N’port N.,&c.
All others
Since
Sept. 1
354,161
408,984
264,806
8,711
190,910
406,266
4,934
6,954
18,162
948
869
278
680
400,593
Total this wk_
4,807
4,916
16,136
10,416
1905.
85,274
9,619
58,76#
8,674
39,755
11,627
3,659
7,629
26,554
103,334
18,600
64,063
7,489
6,993
28,903
30,570
84,492
15,482
21,272
7,455
25,610
’
126.851
8.961
112,620
15,428
63,506
9,487
6,686
9,447
29,669
2,419
23,910
88,255
160,095
13,015
84,302
20,664
59,367
11,575
6,434
11,967
30,136
121,418
17,192
84,025
17,325
67,628
17,800
36,013
289
12,751
Norfolk
1006.
1907.
1908.
1909.
1910.
Receipts at—
627
12,628
4,916,634 4,485.659 5,232,295 4,021,277 5,105.640 4,601,721
exports for the week ending this evening reach a total
314,045 bales, of which 171,428 were to Great Britain,
22,487 to France and 120,130 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1910.
The
of
9
Week ending Dec.
Cen¬
From
1910.
Exported to—
Sept. 1 1910 to Dee
Exported to—
9 1910.
Exports
trifugal, 96-degrees test, 4.05c.; muscovado, 89-degrees test,
Conti¬
Great
Conti¬
Great
rom—
Total.
nent.
3.55c. and molasses, 89-degrees test, 3.40c.
Total. Britain. France.
Refined has
Britain. Fr’nce nent.
been firmer and in moderate demand.
Granulated 4.80c
43,905 116,348 650.731 187,878 496,575 1,335.182
Galveston
72,443
77,977
47.846
15,559 14,572
Spices have been quiet but firm; supplies moderate. Teas Port Arthur
114,624
2,143
112,481
13,575
have been quiet and firm.
City, &c. 13.575
Wool has been dull and steady Texas
312,630 44,641 121,707 478,978
New Orleans.. 14,365 2,613 24,867 41,845
60,004
13.921
7,405
Hops have been in moderate demand and steady.
28,678
17,077
17,077
Mobile
35,070
15,625
9,207 10,238
PETROLEUM.—Trade has been moderately active and Pensacola
463,103
prices have ruled steady. Refined, barrels, 7.40c.; bulk Gulfport
Savannah
9.740 19,874 22.046 51,660 175.544 65,418 222,149
92,338
44,607
47,731
17,883
3.90c. and cases 8.90c.
Gasoline has been firm with a good Brunswick.... 17,883
91,300
70.451
9,986
10,949
11,259 16.208
Charleston
4,949
trade; 86-degrees, in 100-gallon drums, 18%c.; drums $8 50 Wilmington
99,243 19,248 130,091 248,624
9,194 25,044
15,850
116
10,461
10,345
extra.
Naphtha has been fairly active and firm; 73@76- Norfolk
Newport News.
95,489 301,741
degrees, in 100-gallon drums, 16z/ic.', drums $8 50 extra. New York
5,189 158,626 47.628
268
4,921
56,655
4,356
52.299
5,777
1,199
4,578
Spirits of turpentine has been quiet and easier at 78c. Boston
44,325
82,307
2.888
700
9,218
700
Baltimore
Rosin has been quiet and easier; common to good strained
27,036
1,400
25,636
Philadelphia..
TOBACCO.—The market for domestic leaf has been Portland, Me..
18,917
18,917
1,521
1,521
San Francisco.
quieter of late. Cigar manufacturers continue to take a Seattle
14,191
14,191
1.218
1,218
6,439
6.439
moderate amount of binder, but the firmness of prices for Tacoma
408
400
other descriptions has caused consumers to purchase spar¬ Portland, Ore.
Pembina
508
600
ingly. Havana and Sumatra have been quiet and firm.
Detroit
COPPER has been quiet and easier.
Lake 12.80@12.90c.;
1.338.730 3.467.865
171,428 22,487 120,130 314,0451.719.377 409,758
Total
electrolytic 12.65@12.70c. and casting 12H@12.60c. Lead
has been quiet and steady at 4.45@4.55c.
Spelter has been Total 1909.... 81.696 45,769 59,472 186,9371,243,340 666,7601,381,093 !s, 291,198
dull and easy at 5.80@5.90c,
Tin has been firmer on specu¬
In addition to aoove exports, our telegrams tu-iugut aisu
lative buying; spot 38He.
Iron has been quiet and easier;.
give
us the following amounts of cotton on shipboard, not
No. 1 Northern $15 25@$15 50; No. 2 Southern $15 25.
cleared,
at the ports named. We add similar figmres for
Statistics recently Issued show that the production is the
New York.
^
smallest in eighteen months.
-
-
-
-
-
-
-
-
....
—
------
-
—
-
-
-
-
-
-
------
-
-
-
------
------
------
------
-
—
-
-
-
-
------
-
-
-
-
__
...H
-
.
-
-
-
....
-
-
-
-
-
-
-
....
....
....
i
,
....
-
-
-
-
-
------
1580
THE CHRONICLE
On
Dec. 9 at—
Shipboard, Not Cleared for—
Great
Britain. France
New Orleans
19,430
24,465
__
Galveston
Savannah
Charleston
Mobile
Norfolk
New York
Other ports
Total 1910.
Total 1909.
Total 1908
Ger¬
Other
many.
Foreign
8,899
14,839
9,395
37,115
2,200
800
5,613
3,000
9,950
800
1,200
500
—
15,000
13,000
67,108
31,700
102,200
_
_
34,888
16,563
27,621
4,606
19,599
2,700
Coast¬
wise.
426
3,450
500
52
13,328
16,389
77,538
68,892
84,984
2,000
2,000
30,905
19,697
45,173
—
Total.
42,756
99,468
5,700
500
28,943
19,389
4,500
30,000
20,817 231,256
67,381 204,233
30,378 290,356
Stock.
179,362
104,172
166,792
40,097
38,804
14,836
232,575
56,447
■2
£
figures on the
crop might be very much larger than they were.
The gin¬
ning report on Thursday, the 8th inst., gave the unexpectedly
large total ginned up to Dec. 1st of 10,139,986 bales, against
8,876,886 for the same time last year, 11,008,661 two years
ago, 8,343,396 in 1907 and 10,027,868 in 1906.
This shows
that from Nov. 14 to Dec. 1 the
ginning amounted to
1,359,553 bales, against 764,687 for the same time last year,
1,412,852 in 1908, 1,042,731 in 1907 and 1,465,626 in 1906.
The ginning in Oklahoma has already exceeded some of the
crop estimates for that State, and that is also practically
true of some of the guesses on the
Georgia crop. It will be
remarked, too, that the ginning for the last period from
Nov. 14 to Dec. 1 was only 53,299 bales less than for
the
same period in
1908-09, when the Census figures on the total
crop were 13,432,131 bales.
Nor was there any very striking
difference between the figures for the above
period and those
for the same time in 1906-07
(only 106,073 bales),when the
Census Bureau’s crop figures were
13,305,265 bales. It was
not altogether surprising to the
trade, then, to see prices
drop 23 to 33 points soon after the report was read, the
figures being regarded as distinctly bearish, notwithstanding
the contention of some that the
ginning this season has been
unusually rapid and that while 88.1% of the crop had been
ginned up to Dec. 1 last year, fully 90% had‘been ginned up
to the same date in 1910.
Neither was much attention paid
to predictions by advocates of
higher prices that from now
on the
ginning will decrease rapidly. The tendency in recent
years has seemed to be towards a marked
falling off in
ginning after Dec. 1, even in some large crop years, but the
actual figures published on
Thursday and the continued
large receipts, encouraging a belief that the bulls have been
underestimating the crop, had, with heavy liquidation, partly
on stop
orders, a distinctly depressing effect, as may be
gathered from the decline of $1 to $1 65 a bale in a
single
day.
Western,
Southern,
Wall
Street
and
other interests sold
freely. The cotton-goods trade has
been reported quiet in this
city and not in a satisfactory
condition in New England.
Breaks in the stock market at
times have had some effect.
Liverpool prices have fre¬
quently been disappointing to those who were looking for a
rise.
Speculation has been narrow and for the most part
of a professional
character, and the support of large operators
was necessary at times to
prevent prices from sagging, even
before the ginning report was received.
On the other hand,
Liverpool’s spot sales have latterly increased, on Thursday
reaching 18,000 bales. German spinners are said to have
been buying heavily in
Liverpool. Some Liverpool dis¬
patches insist that the Continent is short in the
English
market.
On Thursday’s decline the South
reduced its
offerings in Liverpool. Fall River’s sales of print cloths
have latterly increased.
The British Board of Trade returns
regarded as favorable in some respects. Western re¬
ports of the retail dry goods trade are in the main cheerful.
Exports of cotton from the ports are now running ahead of
those of last year.
Large spot interests have bought to
some extent.
To-day Liverpool was unexpectedly firm un¬
der the influence, as
stated, of a good trade demand, light
offerings from the South and the reduction in the estimate
were
of the size of the India
crop.
Everybody anxiously awaited
the Government
crop estimate.
It proved to be 11,426,000 bales, as above
stated, against an estimate of 10,088,000
bales last year, 12,920,000 in
1908-09, 11,678,000 in 1907-08,
12,546,000 in 1906-07. Spot cotton here has been
Middling uplands closed at 15.10c., an advance for the quiet.
week
of 10 points.
The official quotation for
middling upland cotton in the
New York market each day for the
past week has been:
—
_
Sat.
Mon.
15.05
Tues.
15.05
Wed.
15.00
15.00
Thurs.
Fri.
14.80
15.10
NEW YORK QUOTATIONS FOR 32
YEARS.
The quotations for
middling upland at New York
Dec. 10 for each of the past 32
years have been as follows:
1910.C
1909
1908
1907
1906
1905...
1904
1903
15.10 1902.O..:.. 8.50
1901
8.50
1900.
10.12
..12.15 1899.______ 7.69
10.95 1898__i
5.81
12.60 1897
5.88
8.10 1896
7.44
12.40 1895
8.44
.14.95
9.25
1894.C
on
5.75 1886.C
9.56
7.81 1885._^___ 9.31
9.75 1884
__11.00
1891
8 06 1883..
10.56
1890. _ii
9.38 1882._
10.38
,1889.
10.25 1881^.,
11.94
18889.88 1880.1
11.88
1887__.____10.50 1879—i.
12.44
1893
■_
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833,085
566,713
773,324
burst of bullish speculation in which
prices were carried up
roughly 55 to 65 points. The estimate was exclusive of
linters and re-packs.
In recent years the Government has
underestimated the crop.
The estimate to-day took the
market by surprise, as the
ginning figures of the 8th inst.
had led many to suppose that the Government
i
w
o
Speculation in cotton for future delivery had been quiet at
net decline up to
Thursday night. The Government
crop estimate on Friday of 11,426,000 bales caused an out¬
Dec. 3 to Dec. 9
LXXXXI.
FUTURES.—The highest, lowest and closing prices at
New York the past week have been
Leaving
some
Middling uplands.
[VOL.
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THE VISIBLE SUPPLY OF
made up by cable and
telegraph,
COTTON to-night, as
is as follows. Foreign
stocks, as well as the afloat, are this week’s returns, and
consequently all foreign figures are brought down to Thurs¬
day evening. But to make the total the complete figures
for to-night (Friday), we add the item of
exports from the
United States, including in it the exports of
Friday only.
December 9—
Stock at Liverpool
Stock at London
Stock at Manchester
bales.
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
Total Continental stocks..
1910.
1909.
706,000 1 L ,000,000
4,000
9,000
56,000
65,000
766,000 :1,074,000
—
—
—
3,000
147,000
148,000
2,000
9,000
34,000
343,000
Total European stocks
1 ,109,000
India cotton afloat for Europe
121,000
Amer. cotton afloat for Europe..
903.009
Egypt,Brazil,&c..aflt.for Europe.
Stock in Alexandria, Egypt
Stock in Bombay, India
Stock In U. S. ports
Stock in U. S. interior towns
U. S. exports to-day
66,000
263,000
230,000
1 ,064,341
804,992
50,717
4,000
1908.
1907.
636,000
10,000
34,000
685,000
15,000
53,000
680,000
14,000
217,000
753,000
418,000
2,000
8,000
45,000
1,000
199,000
3,000
23,000
37,000
4,000
16,000
202,000
138,000
4,000
15,000
18,000
25,000
725,000
597,000
418,000
247,000
1,799,000 1,277,000 1,171,000
113,000
50,000
40,000
643,079 1,077,127
903,013
94,000
89,000
88,000
217,000
249,000
209,000
353,000
195,000
325,000
770,946 1,063,680
951,692
759,261
861,451
823,836
24,698
71,550
30,783
Total visible supply
4 ,612,059 4,773,984 4,933,808 4,242,324
Of the above, totals of American and other
descriptions are as follows:
American—
Liverpool stock
bales.
603,000
Manchester stock
45,000
Continental stock
323,000
American afloat for Europe.
903,009
U. S. port stocks
1,064,341
U. S. interior stocks
804,992
U. S. exports to-day
50,717
Total American
East
52.000
702,000
643,079
770,946
759,261
24,698
536,000
30,000
552,000
1.077,127
1,063,680
861,451
71,550
582,000
42,000
337,000
903,013
951,692
523,836
30,783
3,794,059 3,861,948 4,191,808 3,370,324
Indian, Brazil, &c.—
Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
910,000
—
Egypt, Brazil, &c., afloat
.Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &C
Total American
103,000
4,000
11,000
20,000
121,000
66,000
263.000
230,000
90,000
9,000
12,000
23,000
113,000
94,000
217,000
353,000
100,000
10,000
4,000
45,000
50,000
89,000
249,000
195,000
103,000
15,000
11,000
81,000
40,000
88,000
209,000
325,000
818.000
912,000
742,000
872,000
3,794,059 3,861,984 4,191,808 3.370,324
Total visible supply
4,612,059 4,773,984 4,933,808 4,242,324
7.95d.
Middling Upland, Liverpool
7.94d.
4.86d.
6.38d.
15.10C.
Middling Upland, New York
15.20C.
9.10c.
12.10C.
ii m.
12 %d. 8 15-16d. 10 ll-16d.
Egypt, Good Brown, Liverpool__
10.90d.
Peruvian, Rough Good, Liverpool
9.25d.
7.80d.
11.75d.
7 ll-16d.
7 5-16d.
Broach, Fine, Liverpool
4 2id. 5 13-16d.
7 5-8d.
Tinnevelly, Good, Liverpool.
7d. 4 ll-16d.
5 7-16d.
—
Continental imports for the past week have been
balfis.
99,000
v;
; The above figures for 1910 show an increase ovor last
week
of 287,920 bales, a loss of 161,925 bales from
1909, a
decrease of 321,749 bales from 1908, and a gain of
369,735
bales over 1907. <
?
,
■
Dec. 10
1581
THE CHRONICLE
1910.]
AT THE INTERIOR TOWNS the movement—that is,
the receipts for the week and since Sept. 1,
for the week and the stocks to-night, and the same items for
the corresponding period for the previous
set out
in detail below.
the shipments
year—is
Closing Quotations for Middling Cotton onSat’day,
December 9.
Galveston
New Orleans
Mobile
Savannah
Charleston.
__
__
__
__
_
_
14
14
14
14
Monday,
Tuesday, Wed’day, Thursd'y,
14%
14%
14%
14%
14 %
14%
14%
14%
14%
14 %
%
11-16
%
7-16
14%
Wilmington
14 %
14 %
15.30
14 11-16
Norfolk
Baltimore
Philadelphia
Augusta.
Memphis
15%
St. Louis
Houston
Little Rock
._
>
o
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2 2 3“o
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to
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till
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ps
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19078—Dec.
i
i
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Orleans
Dec. 3.
December—
-s|MM©©©H|t\j©©©©©
MWUtO'JMMOlMtnWOiOWOJOiOaiNO
i^iO©0®it!>»OCi'WHib©OOt'SOi-‘i-‘tOitiC5CnM»l'5®C'M':M'vIO
Range
Closing
January—
Range
Closing
February—
Range
Closing
ft
ffi(»t-‘Ot5ili!»Oi»100*-!OMi->IXOMO}005MOOil5’OOOOC®!OviO
HO to to
to HO OO
©©t\S©W
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March—
06t;!CDC<M«4tO«OOit‘0>a500-.1500a.tOMh(notWH-*0)t^C5«OCn*-*«jcotOtOtn
OOC5*-OOOit.|nOOiHO!>HOti-‘ffi!0'lM05MOO«DO>-*UMMCJiOtDitn05
tv9l-*«'}OC00e^JtI»>-*J»-C5t‘-.t5MfO'v|i*^e5Ot-‘>b‘OCStnt0l-k50^Jor0ltn«D05
OO~JO0nO05»in-O>*.in00C0Oac«J«5i-‘i-‘4n.O00Ct00tO05tO05C0C0CJttO-.]
to
© mm mm
mm
to
05 00 mm 05 to
Js. 05 tomm-4
Range
Closing
April—
Range
Closing
t\st\s©©>
to MMtjHW
May—
Range
Closing
CD «tn 00 O 05 -O © O Co © mm
-.J MM OCOt-HiJCo
05 to © >£m © © to 45. © © lo ©
C5 00 © O'JUO05i‘O0!>-nJlHt0OOOM35
MHO mm W © to © © © 00 to
45. t-M 00 WnJOO m-o ©
to 00 to ©C©C5»©45.i-»C©CH©C0iU00iU©tO69©00©itnO
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to to to
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Range
Closing
July—
Range
Closing
August—
4-to to
MlMCJMiiUit.
ylOlOi-MtO
ot to 4n 4n
yVt©«aytoto©yyyMMtooo©toto«jy4nco»y©MMCo® ©©©©*© y
Range
.Closing
CO©ytOCOCOMM©«j4neoMM©OT45.©©©ytO©©©“4»©45.©M44s.yM4to
MMy to 00 © © 00 45. © MM oo to 00 00© to Q 00 to © to © 10 00 y 45. CP ©HOnlOai
MM
to
to
4n
MM
'
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14%
15%
15%
14%
14 %
14 11-16
14%
14%
14 %
14%
14%
14 %
14 9-16
14%
14%
14 9-16
14%
15.25
14 %
15%
15%
14%
14 %
15.05
14 11-16
15.35
15%
15%
14%
15 %
15%
14%
14%
15
14%
OPTION
Monday, Tuesday, Wed’day, Thursd’y,
Dec. 5.
6.
Dec.
Dec. 7.
M*a05M004.M*OOOMlOOMM«yOiM‘OMi05C5WCO'JM*4.05CitMja
4».©45.tO©tO©4n©tO©45.y©y©tOy.|©©y©<BJ«jMM©^j00<JtOM500
@ — 14.99
14.88-.90 15.01
—
—
—
*
@
—
—
*
14.95
@
14.96
—
—
*
@
14.72
—
—
*
@
15.09
—
*
14.93-.05 15.05-.17 15.07-.18 15.05-.15 14.85-.04 14.80-.38
15.01-.02 15.16-.17 15.09-.10 15.13-. 14 14.88-.89 15.26 —
—
@
—
—
@
15.11-.13 15.26
@
—
—
*
—
*
15.19
—
@
15.23
—
—
*
@
14.97
—
—
*
@
15.36
—
*
15.11-.24 15.22-.36 15.25-.38 15.25-.33 15.04-.22 14.99-.55
15.19-.20 15.35-.36 15.28-.29 15.32-.33 15.06-.07 15.46-.47
—
@
—
—
@
1 5.26-. 28 15.42
—
—
*
@
15.35
—
—
*
@
15.39
—
—
*
@
15.13
—
—
*
@
15.51
—
*
15.25-.31 15.39-.45 15.34-.45 15.35-44 15.14-.33 15.07-.59
15.28-.29 15.44-.45 15.37-.38 15.41-.42 15.15-. 16 15.54-.55
—
@
@
—
@
—
@
—
14.50
—
14.45
—
14.80
—
—
—
—
Steady.
Steady.
Firm.
Steady.
—
Steady.
Steady.
Steady.
tSeady.
@
—
@
—
14.80
—
14.94
—
—
—
Easy.
Steady.
Steady.
Steady.
Nominal.
WEATHER REPORTS BY
W'IDMiO3>MWyiMC>M©4*W©WMM0>-4)l5aO«!Dt0HOOMOMO
Dec. 9.
14.65-.79 14.80-.91 14.81-.93 14.81-.90 14.59-.79 14.53-.12
14.75-.76 14.91-.92 14.85-.86 14.86-.87 14.62-.63 14.99-.00
__
*
Friday,
@ — 14.73-.83 14.75-.02 14.72-.79 14.56-.68 14.47-.98
14.69-.70 14.83-.84 14.75-.77 14.76-.77 14.54-.56 14.90-.91
Spot
Options
MM
Dec. 8.
—
Tone—
©toCOMM^yjntO©
tO4M^.©®©tOM5^.0e©MM
•*4^l»©MM©©©M5©©«joo©MMMM^j«q©ooyooMjto©©wtoytototoy
©JOMMjntO
15.25
14%
15%
15%
14%
14%
June—
© y 05 © 45.
mm
© to
©©
Co to to © © to *vj © oo to ci © © © so © os y © © mm © cd ©
00 t o © ©yOo4H45.©M5totO©MMCO«.jco©tooc©*.SO©©©50yoo5D MM^J©
Oo y ©
i
y to 4n ©yWtOOO©*sl©OOMa45.M5-4yorotO©©4a.©©45M5©Kji
>—
15.30
15
MARKET.—The highest,
closing quotations for leading options in th eNew
cotton market for the past week have been as follows:
ORLEANS
Sat'day,
© W ifM ©
MHCJlt.i-'Ol
to tO t O mm © h| © t\S hJ
i
14%
14%
14%
14 %
14%
14%
Friday
14%
lowest and
p
05
’""i
fill
i
i
:ps
05
3
NEW
P»
cr
:
-(3
•O a ST
V P3^
i
P
>■»
*5oJ£.c:
na
Gj
O
a
?r
.05
o
.
sSo*'
0*2
CO
I
g Q3
Q
»
2
c
._
15
14 %
14 11-16
14%
14 %
14%
14%
14 %
14 %
14 %
14%
TELEGRAPH.—Our tele¬
graphic advices from the South this evening indicate that
on the whole the weather has been satisfactory the past week.
MMtO©MMO»60MMCO©tO®©©©MM©CO©©©
MtO©MM®MM©©©.y©tO©©0©y©-s|
Rain has been light as a rule jvhere any has fallen.
Tem¬
to
to IO
tO
^0
45y
©©©©©M45©ro
towards
the
perature
lower
the
close.
The
marketing
of
y©45MH|MM©0®MMHj45HjHjMtO©tOM
»H|©M©y45©©©©©©eo45tOM©©©
crop continues on a fairly liberal scale.
H|®®-jyMM©©©4kco©oyM®y45©©
Galveston, Texas.—There has been rain on one day during
The above totals show that the interior stocks have in¬ the week, the rainfall being one hundredth of an inch.
creased during the week 27,614 bales and are to-nigth 45,731 Average thermometer 52, highest 66, lowest 38.
bales more than at the same time last year.
The receipts
Abilene, Texas.—There has been no rain the past week..
at all the towns have been 126,512 bales more than the same
The thermometer has averaged 37, the highest being 48 and
to to MM MM CJ
MM MM MM © CO
to
©
45 MM MM
MM
MM
y ® «4 y to —* 45 hi
CO © Hi M ® -J © MM
® ©45 Hj©©0©
week last year.
45
® y>
tO® MM 4.
© 45 mm 05 ®
y to 45 © M
MM
45 tO
©MM
y y
45 M MM MM © to©
^3 rj)
45 MM 4n CO
CO
© y to © 4m © © to © 45 © 45 to m M y o y
to Ml Mj MMy©©
y © 45 cocooo©©
45 y CO MUNO00
1
tO
Mu
® to Ml 45 45
y ©©mmmm
® Hi «4 to Ml
MM © y to ©
the lowest 26.
OVERLAND MOVEMENT FOR THE WEEK AND
SINGE SEPT. 1.—We give below a statement showing the
overland movement for the week and since Sept. 1, as made
from telegraphic reports Frida}7, night.
up
The results for
Sept. 1 in the last two years are as follows:
the week and since
-1909
-1910-
Shipped—
Via
Via
Via
Via
Via
Via
Via
St. Louis
Cairo
Rock Island
Louisville
Cincinnati
.
Sept. 1.
198,540
1,171
5,573
4,040
6,874
3,597
18,118
49,855
32,083
67,681
64,575
1,409
1,542
3,798
5,376
.54,386
549,905
40,964
445,258
7,955
66,715
14,094
20,902
2,185
947
3 78
1,152
37,924
11,482
16,327
9,280
101,711
4,331
65,733
.45,106
448,194
36,633
379,525
_
_
.
Virginia points
other routes, &c__
_
_
_
.
_
_
.
-
Inland, &c., from South..
Total to be deducted
.
Leaving total net overland *
Sept. 1
Week.
Week.
.20,810
.12,321
_
Total gross overland
Deduct shipments—
Overland to N. Y., Boston, &c.
Between interior towns
*
Since
Since
December 9—
118,853
21,211
6,675
177 337
953
5,728
33,018
18,036
48,009
74,140
88,990
_
*
994
Including movement by rail to Canada.
show’s the week’s net overland movement
bales, against 36,633 bales for the week last
year, and that for the season to date the aggregate net over¬
land exhibits an increase over a year ago of 68,669 bales.
The foregoing
has been 45,106
1909
-1910
In
Since
Since
Sight and Spinners’
Week.
.400,593
45,106
31,000
190,910
36,633
52,000
4,485,659
379,525
754,000
.496,699
27,614
5,973,828
754,214
279,543
22,845
5,619,184
676,098
.
_
_
.524,313
302,388
6,295,282
6,728,042
North.
spinners’takings to Dec. 9. 65,600
Movement into sight in
Week—
1908—Dec.
1907—Dec.
1806—Dec.
1905—Dec.
14.V.M5.
15
1,015,583
84,559
982,186
previous years:
Since Sept. 1—
53R477 1908—Dec. 12
13
458,047
14
557,560
1905—Dec.
15
395,574
Bales.
12
13_
Sept. 1.
Sept. 1.
4,916,634
448,194
609,000
Week.
Takings.
Receipts at ports to Dec. 9__
Net overland to Dec. 9.
Bales.
7,188,887
.5,428,093
6,821.437
6,239,844
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.—Below are the closing quotations
cotton at Southern and other principal cotton
each day of the week.
of middling
markets for
The thermometer
Palestine, Texas.—Dry all the week.
has averaged 44, ranging from 30 to 58.
San Antonio, Texas.—There has been no rain the past week.
The thermometer has ranged from 38 to 54, averaging 46.
Taylor, Texas.—No rain the past week. Average ther¬
45, highest 48, lowest 42.
New Orleans, Louisiana.—There has been rain on one day
the past week, the rainfall being eighteen hundredths of an
inch.
The thermometer has averaged 53.
Vicksburg, Mississippi.—There has been rain on two days
during the week, the rainfall being fifty-seven hundredths of
an inch.
Average thermometer 47, highest 68, lowest 28.
Helena, Arkansas.—Cotton nearly all picked. There has
been rain on two days of the week, to the extent of thirtyThe thermometer has aver¬
seven hundredths of an inch.
aged 36.6, the highest being 47 and the lowest 29.
Memphis, Tennessee.—There has been rain, snow and sleet
on three days of the past week, the rainfall being sixty-five
hundredths of an inch.
The thermometer has ranged from
23 to 46, averaging 36.
Mobile, Alabama.—Rain has fallen on two days during the
week, the precipitation reaching sixteen hundredths of an
inch.
The thermometer has ranged from 30 to 73, aver¬
aging 49.
Montgomery, Alabama.—We have had rain on two days
of the week, the rainfall being sixty-six hundredths of an
The thermometer has ranged from 25 to 73, averag¬
inch.
ing 42.
Selma, Alabama.—We have had rain on three days during
the week, the precipitation reaching one inch and thirty
hundredths.
The thermometer has ranged from 22 to 68,
averaging 39.
Savannah, Georgia.—We have had rain on one day during
the week, the precipitation reaching eight hundredths of an
inch. The thermometer has ranged from 25 to 66, average,
ing 44.
Madison, Florida.—There has been no rain the past week.
The thermometer has ranged from 30 to 65, averaging 48.
Charleston, South Carolina.—We have had rain on one day
of the week, the rainfall being one hundredth of an inch.
The thermometer has ranged from 29 to 64, averaging 47.
Charlotte, North Carolina.—Fields are picked clean.
Rainfall for the week one inch and fifty-three hundredths.
Average thermometer 37, highest 50, lowest 20.
.
mometer
,
158?
THE CHRONICLE
WORLD’S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Week and Season.
Week.
Visible supply Deo. 2
Visible supply Sept. 1
American in sight to Dec. 9
Bombay receipts to Deo. 8
Total supply
524,313
84,000
6,000
56,000
8,000
5,002,452
Week.
Season.
leave those for previous weeks of this and last
year for com¬
4,675,474
1,495,514
6,728,042
377,000
59,000
592,000
90,000
4,612,059
Total takings to Deo. 9
Of which American
Of which other
390.393
300.393
90,000
1,931,022
6,295,282
302,388
110,000
1,000
44,000
11,000
9,341,556 5,143,862
4,612,059 4,773,984
4,773,984
4.729.497
3.727.497
1,002,000
4.640.320
3.887.320
753,000
369.878
317.878
52,000
1910.
at—
1909.
Since
Week.
Bombay
84,000
Sept. 1.
Week.
Since
Week.
Sept. 1.
377,000 110,000
579,000
Sept. 1.
40,400
225,000
Great
Conti¬ Japan
Britain. nent. A China Total.
Great
Britain.
1910
1909
1908
Calcutta—
1910
1909
1908
Madras—
1910
1909
1908
All others—
1910
1909
1908
Total all—
1910
U1909
1*1908
1,000 34,000
3,000 19,000
3,000
17,000 52,000
41,000 63,000
3,000
6,000
Conti¬
Japan
nent.
& China.
79,000
127,000
69,000
271,000
257,000
165,000
2,000
2,000
4,000
5,000
7,000
9,000
11,000
7,000
9,000
24,000
3,000
3,000
2,000
9,000
4,000
7,000
1,000
2,000
12,000
8,000
11,000
2,000
1,000
6,000
11,000
10,000
4,000
28,000
35,000
53,000
1,000
1,000
5,000
40,000
46,000
62,000
4.000 36,000 18,000 58,000
3,000 19,000 42,000 64,000
8,000
5.000 13,000
122,000
223,000
24,000
10,000
80,000
129,000
87,000
330,000
167,000
165,000
-
-
-
—
1,000
2,000
2,000
i,6oo
4,000
—
1,000
1,000
1,000
1,000
5,000
320,000
262.000
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria, Egypt,
December 7
1910.
1909.
This week
Since Sept. 1
420,000
4,439,031
3,444,774
420,000
3,213,920
Exports (bales)—
This
Since
Week. Sept. 1.
This
Since
Week. Sept. 1.
This
Since
Week. Sept. 1.
5.50" 103,551
8,750 91,329
19.000 119,986
9,250 39,798
9,250 72,101
6,000 55,982
24,250 117,641
8,000 29,583
1908.
Receipts (cantars)—
Liverpool
To Manchester
To Continent
To America
Total exports
330,000
9,250
17.250
19.250
1,000
The Crop Reporting Board of the Bureau of
Statistics of the United States
Department of Agriculture estimates, from the reports of the
correspond¬
ents and agents of the
Bureau, that the total production of cotton in the
United States for the season 1910-11 will
amount to 5.464,597,000 lbs (not
Including linters), equivalent to 11,426,000 bales of 500
lbs., gross weight
The estimated production in 500-lb.
gross-weight bales, by States, is as
follows:
Virginia
13,000 Louisiana
260,000
North Carolina
675,000 Texas
3,140,000
South Carolina
1,116,000 Arkansas.
815,000
Georgia
1,750,000 Tennessee
305,000
Florida
58,000 Missouri
1,174,000 Oklahoma
1,160,000 California
48,000
_
900,000
12,000
United States
report,
11.426,000
matter of interest in connection with the
foregoing
subjoin a statement showing for a series of years
the annual crop estimates of the
Department of Agriculture
and the final commercial
crop as compiled by us.
we
,
--
1910-11
1909-10
bales.
1908-09
...
1907-08
1906-07
19t)5-06
1904-05
1903-04
1902-03
1901-02
1900-01
1899-00
*
Not
■
* Department
Estimate.
11,426,000
10,088,000
12,920,000
11,678,000
12,546,000
10,167,818
12,162,700
9,962,039
x "Chronicle"
Commercial Crop.
10,650,961
13,828,846
11,581,829
13,550,760
11,319,860
13,556,841
10,123,686
10,758,326
10,70,1453
10,425,141
9,439,559
10,417,000
9,674,000
including linters.
10,100,000
8,900,000
x
Including linters.
113-16@
Spot Market
Closed.
Sales
Spot.
«.
__
„
Quiet 5 pis adv
Quiet
Quiet 5 pts dec
Quiet
Quiet 20 pts dec
Stedy 30 pts adv
Consum'n.
Quiet
—
r
- —
Easy
...
6
7
7
11*
@10
@10
@10
7*@ 10
5
11* 5
12
5
12* 5
8
8
12* 5
7*
9
10
10*
@10 11
@11 0
d.
s.
7.95 10*
@
10* 5
7.76 10*
@
11* 5
7.81
8.00
7.85
8.10
10*
@
11* 5
10*
10*
10*
@
11*
11*
11
5
5
5
@
11
5
@
11* 5
@
@
8.06 10*
7.95 10*
d.
UpTs
d.
s.
d.
4*@9 9
6
@9 11
7.37
6
6
6
5
@9 11
7.59
0 9 11
@9 11
@9 10
7.72
7.72
7.62
5*@9 11
@10
7.72
7.94
7.71
6
268
46
200
200
Albert, 2
Dec. 5—Cleveland,
2,273___Dec. 7—Regina d’ltalia, 400
2,675
Naples—Dec. 2—Konig Albert, 1,000
Dec. 5—Cleve¬
land, 100—Europa, 100
Dec. 7—San Giovanni, 100
1,300
To Venice—Dec. 6—Martha
Washington, 200
200
To Trieste—Dec. 6—Martha Washington,
100
100
To Flume—Dec. 6—Martha Washington, 200
;
200
GALVESTON—To Liverpool—Dec. 31—Boniface, 10,121: Iowa,
23,001...Dec. 5
Indore, 16,058...Dec. 7—Lugano, 8,768 57,948
To Manchester—Dec. 7—Gloria de
Larrlnaga, 14,495
14,495
To Bremen—Dec. 2—Augustus, 5,098
Dec. 6—St. Oswald,
10,730
15,828
To Barcelona—Nov. 30—Gerty, 9,306.
9,306
To Genoa—Dec. 2—Dora Baltea, 8,533
Dec. 2—Mongibello,
10 238
TEXAS CITY—To Liverpool—Dec. 2—Commodore, 13,575
NEW ORLEANS—To Liverpool—Dec.
Dec.
2—Wanderer, 8,774
6—Wm. Cliff, 4,941
To Glasgow—Dec. 8—Fashoda, 650
To Havre—Dec. 6—Olympic, 2,613
To Hamburg—Dec. 7—Dortmund, 2,916
To Antwerp—Dec. 5—Tiverton, 218
To Oporto—Dec. 2—Catalina, 1,619
To Barcelona—Dec. 2—Catalina, 2,575
Dec. 8—Carolina,300
To Genoa—Dec. 3—Fram, 6,902
Dec. 6—Italia, 5,200____
To Trieste—Dec. 3—Emilia, 2,437
Dec. 8—Carolina, 1,900.
To Venice—Dec. 3—Emilia, 600—Dec. 8—Carolina, 150
To Flume—Dec. 3—Emilia, 50
MOBILE—To Liverpool—Dec. 2—Logician, 10,272
Dec. 3—
Ernesto, 2,818
To Manchester—Dec. 3—Yucatan, 8,987
SAVANNAH—To Manchester—Dec. 6—Khalif. 9,740
To Havre—Dec. 5—Gadsby, 8,902
Dec. 8—Pontiac, 10,972
To Bremen—Dec. 3—Dominion, 9,500
Dec. 8—Nordhavet,
5,895
To Hamburg—Dec. 2—Rosebank, 50
Dec. 3—Ganges, 4,076
To Rotterdam—Dec. 6—Holland, 25
To Antwerp—Dec. 2—Rosebank, 1,025
Dec. 6—Holland,375
To Bergen—Dec. 2—Rosebank, 100
Dec. 3—Dominion, 100
To Warberg—DeCi 3—Dominion, 200
Dec. 8—Nordhavet,
300
To Malmo—Dec. 3—Ganges, 100
To Reval—Dec. 8—Nordhavet, 300
BRUNSWICK—To Liverpool—Dec. 7—Colonial, 17,883
CHARLESTON—To Liverpool—Dec. 8—Cundall. 4,949
To Bremen—Dec. 5—Frederike, 11,259
WILMINGTON—To Liverpool—Dec. 2—Hillglen, 15,850
To Bremen—Dec. 6—Tyne, 9,194
BOSTON—To Liverpool—Dec. 6—Winifredlan, 3,839
To Manchester—Dec. 5—Bostonian, 738
To Genoa—Dec. 6—Canopic, 1,199
BALTIMORE—To Liverpool—Dec. 1—Templemore, 700—
SAN FRANCISCO—To Japan—Dec. 6—China, 1,521
SEATTLE—To Japan—Dec. 3—Sada Maru, 1,218
—,
Total
-
—
18 771
13,575
13,715
650
2,613
2,916
218
1,619
2,875
12,102
4,337
750
50
13,090
3,987
9.740
19,874
15,395
4,126
25
1,400
200
500
100
300
17,883
4,949
11,259
15,850
9,194
3,839
738
1,199
700
1*521
1,218
314,045
-
LIVERPOOL.—By cable from Liverpool we have the fol¬
lowing statement of the week’s sales, stocks, &c., at that port.
Nov.
18.
Nov. 25.
Dec. 2.
Dec. 9.
Sales of the week
bales. 48,000
Of which speculators took..
1,000
Of which exporters took
1,000
Sales, American
42,000
Actual export
4,000
Forwarded
106,000
Total stock—Estimated
1575,000
Ot which American
491,000
Total Imports of the week
171,000
Of which American
143,000
Amount afloat
501,000
Of which American
400,000
45,000
2,000
2,000
39,000
4,000
124,000
47,000
1,000
1,000
42,000
61,000
1,000
2,000
53,000
3,000
F80.000
706,000
603,000
149,000
115,000
576,000
456,000
26,000
559.000
212,000
176,000
448,000
104,000
639,000
551,000
110,000
87,000
604,000
361.000
412,000
658 000
The tone of the
Liverpool market for spots and futures
day of the past week and the daily closing prices of
spot cotton hav*1 been as follows:
each
Spot.
Saturday.
Monday.
Tuesday.
Wednesday.
1
)
J
Fair
Large
Quiet.
Good
demand.
Good
demand.
business
business
doing.
doing.
Upl'ds
7.96
8.02
8.03
8.00
8.08
7.95
7,000
1,000
10,000
1,000
10,000
8,000
500
500
18,000
1,000
10,000
Spec.&exp.
Market
12:15
P. M.
Thursday.
Friday.
Easier.
500
of Spot and Contract.
Con¬
tract.
Total.
Steady
Steady
Steady
11* 5
@10 9
6*@10 8
d.
To
Sales
Futures
Market
Closed.
7
d.
To Bremen—Dec. 7—Friedrich, 16
upland, 30 Sea Island—
To Antwerp—Dec. 6—Gothland, 200
To Barcelona—Dec. 8—Buenos
Aires, 200
To Genoa—Dec. 2—Konig
Mid.
MARKET AND SALES AT NEW YORK.
Saturday.
Monday
Tuesday
Wednesday
Thursday
Friday
Firm
Total
@
11 * 5
11* 5
d
s.
Cot*n
Mid.
SHIPPING NEWS.—As shown on a previous
page, the
exports of cotton from the United States the past week have
reached 314,045 bales.
The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
61,561
55,936
99,938
15,383
AGRICULTURAL DEPARTMENT’S COTTON CROP
ESTIMATE.—The report on cotton, issued by the
Agricul¬
tural Department on Dec. 9, is as follows:
Mississippi
10*
11
18
25 11*
@
Dec.
2
11 3-1601
42,500 354,664 47,500 275,307 46.750 232,818
Alabama
@
1013,8 @
I0l6ie @
11
@
Total.
186,000
121,000
96,000
-
11
d.
s.
8* lbs. Shirtinas, common
to finest.
32* Con
Twist.
UpTs
Total bales.
6,000
9,000
_
d.
finest.
NEW YORK—To Liverpool—Dec.
2—Celtic, 98 upland, 170 Sea
Island
Since September 1.
Bombay—
a
4
to
1908.
Since
For the Week.
Exports
from—
As
Oct
21
28
1909.
8* lbs. Shirt- Cot’n
inas. common Mid.
32s Cop
Twist
9
Receipts
•
1910.
9,414,304
INDIA COTTON MOVEMENT FROM ALL PORTS.
To
parison:
379,000
63,000
459,000
87,000
Embraces receipts In Europe from Brazil, Smyrna, West Indies, &c.
December 8.
LXXXXI.
MANCHESTER MARKET.—Our report received by cable
to-night from Manchester states that the market is firm for
both yarns and shirtings. The demand for both
yarn and
cloth is good.
We give the prices for to-day below and
d.
Deduct—
Visible supply Deo. 9__
-
Season.
4,324,139
Other India ship'ts to Dec. 8
Alexandria receipts to Dec. 7__
Other supply to Dec. 7*
•
1909.
1910.
[VOL.
-----,
.----
9,800
6,900
2,000
7,000
7,300
9,866
6,900
2,000
7,000
7,300
33,000 33.000
Futures.
Market
Steady at
l 4@5 pts.
opened
j
decline.
Market
]
Quiet at
4@ 5 pts.
J
decline.
P. M.
The
below.
Steady at Steady un¬
6@ 7 pts. changed to
advance. 1 pt. dec.
Steady at Steady at Steady at
2@ 3 pts. 2*@ 4 pts. 1*@3* ,i
decline.
pts. adv.
Steady at Quiet unch. Steady at Varely st’y
8*@10 to 1* pt. 2 pts. dec. unch. to 7
decline.
pts. adv.
to *pt.adv
pts. dec.
pts. dec.
Steady at
10@17*
pta/adv.
prices of futures at Liverpool for each day are given
Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
to
Dec. 9.
December
Deo.-Jan
Jan.-Feb j
Feb.-Mch.
Mch.-Apr.
.
Apr .-May.
May-J une
June-July
July-Aug.
Aug.-SepSep .-Oct _i
12*
12*
p.m.
p.m.
7
7
7
7
7
7
7
7
7
7
7
V
%ed.
Tues.
Mon.
Sat.
Dec. S
Thus, 7 74 means 7 74-100d.
given in pence and 100ths.
The prices are
1583
THE CHRONICLE
Deo. 10 1910.!
Thurs.
confidently expected in the near future. To-day prices
slightly early on selling by cash interests and liqui¬
dation, but they rallied later on covering.
declined
Fri.
4
4
8
4
12*
12*
12*
12*
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
4
83
74* 80
73* 79* 82
12*
85*
81* 78* 81
78
80* 85
80* 81
86*
81 * 82* 79* 82
80
84
83* 88
83
84* 85* 82* 85* 90
91
86
85
83* 86
84* 87* 92
86* 87
86
90*
85
85* 83*
88
84
82* 83* 81
61
60
58* 61* 65*
81
83
80
74
75
81 * 84*
86
76* 83
77
83* 86*
78
84* 87*
86
76* 83
83*
73* so
61
58
51
19
20
17
10
00
01
92
98
76
75*
75
74
92*
92
76* 74* 94*
78
76
94
77* 96
79*
80* 78* 96*
«1* 79* 97*
80
78
96
77* 75* 94
54* 53* 72
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat.
Mon. Tues. Wed. Thurs. Fri.
Cash corn, new
55 34 55
53 34 53 54 55 34 55
December delivery in elevator
54 54
56
56 54 56 54 55 34 55
56
May delivery in elevator
DAILY CLOSING PRICES
56 54
56 34
56
55 54
5554
OF CORN FUTURES IN CHICAGO.
Sat.
Mon.
Tues.
Wed. Thurs.
December delivery In elevator
4654
48 54
49 34
4634
48 34
48 34
4554
May delivery in elevator
July delivery In elevator
46 *
48 54
49 54
47 54
48 34
4554
47 54
48 34
Fri
4554
47 54
48 34
Western market have moved
with the tone easier of late,
owing to increasing sales by the country, depression in corn
and selling by elevator interests and commission houses.
BREADSTUFFS.
There has been buying at times by certain well-known inter¬
Friday, December 9 1910.
ests, but among many the feeling is bearish, owing to the
Prices for wheat flour have been steady as a rule during large supplies in the country, heavy stocks of contract grade
the week.
The attitude of the trade is still largely a waiting at Chicago and expectations of heavier receipts.
To-day
one.
A few cars have been sold recently in the local mar¬ prices closed firmer.
Cash interests sold, but commission
ket, but purchases have generally been confined to small houses purchased.
lots of the best grades.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Reports latterly received from Min¬
.«Sot.
Mon. Tues. Wed. Thurs. Fri.
neapolis, St. Louis and Kansas City, as well as other dis¬
‘39
39 34
39
39
38 34 38 34
tributing points, have been cheerless. New business has Standards
No. 2 white
39 34
39 54
39 34 39 34 39
39
been sluggish at many points and shipping directions on old
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
contracts have been received slowly.
Rye flour and corn
Sat.
Mon. Tues.
Wed. Thurs. Fri.
December delivery in elevator
meal have been quiet and steady.
32 54 32 34 31 *
31 34 31 34 31 54
35 34
34 34
34 34 34 54 34 34 34 34
Wheat has fluctuated within comparatively narrow limits May delivery in elevator
July delivery in elevator
35
34 34
34 34 34 34 34
34 34
and the net changes for the week are therefore small.
The following are closing quotations:
Though the December delivery in Chicago shows a note¬
FLOUR.
worthy advance for the week, the drift in other options has Winter, low grades
$2 75 @53 40 Kansas straights, sack.$4 50 @54 75
4 00 @ 4 40
on the whole been slightly downward.
4 80@ 5 00 Kansas clears, sacks
The Government Winter patents
6 00 @ 6 80
Winter straights
4 20 @ 4 30 City patents
report which appeared on Wednesday, though apparently Winter clears
3 85 @ 4 40
3 75@ 4 00 Rye flour
4 15 @ 4 25
bullish on its face, was not so sensationally so as bullish pre¬ Spring patents
5 25@ 5 55 Graham flour.
4 80 @ 5 00 Corn meal, kiln dried.__ 2 75@ 2 85
dictions had led some to expect, and accordingly the day on Spring straights
Spring clears
4 25@ 4 35
which it appeared, Wednesday, Dec. 7, prices actually de¬
GRAIN.
Oct.-NovV
17
98
20
01
18
99
24
04
18
98
16
96
Oats for future delivery in the
within relatively narrow limits,
28
08
_
The condition of winter wheat was stated
82.5%, against 95.8% Dec. 1 last year and a ten-year
clined somewhat.
at
average
pected.
or
an
of 85.3%. Something lower than 82% had been ex¬
Besides the acreage was stated at 34,485,000 acres,
increase
year’s
area.
Government
of the West,
of
more
than
million
a
acres
over
last
Then, too, since Dec. 1, the date of the
report, good snows have failed in many parts
and the inference that the plant has been corres¬
Corn, per bushel—
Wheat, per bushel—
51 18
1 16 34
98 34
N. Spring, No. 1
N. Spring. No. 2
Red winter. No. 2
Hard winter. No. 2
Oats, per bushel, new—
10134
Cents.
38 34
39
38
Standards
No. 2 white
No. 3 white
Cents.
No. 2 new...
f.o.b.
No. 2 mixed
f.o.b.
No. 2 white
f.o.b.
Rye, per bushel—
No. 2 Western
f.o.b.
State and Pennsylvania
55
Nominal
Nominal
81 @ 82
Barley—Malting
Feeding, cJ.f., N. Y__
90 @95
Nominal
83 34
AGRICULTURAL
DEPARTMENT’S REPORT ON
pondingly benefitted seems reasonable. The condition of the CEREAL CROPS DEC. 1.—The Agricultural Department’s
plant on the increased area indicated a crop on Dec. 1 of report on cereal crops Dec. 1 was issued on the 7th inst.,
524,172,000 bushels, against an indicated vield a year ago as follows:
of 589,301,000 bushels and a final crop last season of 458,The Crop Reporting Board of the Bureau of Statistics of the United
Department of Agriculture estimates, from the reports of corre¬
294,000 bushels. It was considered a significant fact that States
and agents of the Bureau, as follows:
the Government stated the condition in Oklahoma at 58%, as spondents
WINTER WHEAT.—Area sown this fall 2.5% more than the revised
estimated
area sown in fall of 1909, equivalent to an increase of 828,000
against the percentage given in the Oklahoma State report
Condition on
acres, the indicated total area being 34,485,000 acres.
recently of only 38.6%. Liverpool prices, on the whole, have Dec. 1 was 82.5, against 95.8 and 85.3 on Dec. 1 1909 and 1908, respec¬
shown a tendency to stand still or else to recede.
and a ten-year average of 91.3.
Indeed, on tively,
RYE.—Area sown this fall 1.2% less than the revised estimated area
one day they broke quite sharply.
Also prices at Buenos sown
in fall of 1909, equivalent to a decrease of 25,000 acres, the indicated
The flour trade at important total area being 2,138,000 acres. Condition on Dec. 1 was 92.6, against
Ayres have declined.
94.1 and 87.6 on Dec. 1 1909 and 1908, respectively, and a ten-year aver¬
distributing points at the West has been dull. The North¬ age of 93.5. |
retfi
western output has latterly exceeded the sales.
The Michi¬
The statements of the movement of breadstuffs to market
gan State report puts the condition at 98%, against 92 a
year ago.
Northwestern stocks have been increasing to indicated below are prepared by us from figures collected by
The receipts at Western
some extent.
Both Northwestern and Southwestern mar¬ the New York Produce Exchange.
kets have fallen.
Good snows have occurred in Kansas, Mis¬ lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
souri and Nebraska, breaking a drought in some sections,
it is said; of three months.
The outlook for the foreign crops
Oats.
Barley.
Rye.
Corn.
Wheat.
is reported to be cheerful, though in parts of Russia the pros¬ Receipts at— Flour.
bu.56
bushASlbs.
lbs.
lbs.
bush.
32
lbs.
bush.
56
60
lbs.
bbls.l96lbs.
bush.
pects are said to be unfavorable. The visible supply in¬
42,000
1,436,400
685,500
2,246,500
131,440
1IS,800
creased last week about half a million bushels, as against Chicago
341,900
24,480
209,100
153,680
Milwaukee102,830
73,900
an increase of over three times that much in the same
221,923
8,999
70,384
Duluth.
14,055
1.134.400
20,740
440,050
303,960
299,640
1.785.400
Minneapolis.
week
last
year.
Yet for one cause or another Toledo
21,000
142,800
165,000
there has been no sharp decline in this country during the Detroit
39,594
37,310
2,580
34,216
1,298
110,318
57,151
37,254
1,712
past week. The Government report after all showed a con¬ Cleveland
8,800
329,800
154,000
337,625
234,892
St. Louis...
43,880
dition about 3% under the ten-year average, and some pri¬ Peoria
3,200
91,200
83,800
446,629
6,000
33,894
112,200
218,400
vate reports still insist that drought has done a good deal of Kansas City.
432,000
damage in parts of the Southwest. At times Northwestern Total wk. ’10
108,219
2,716,556 1,935,871
3,939,735
4,050,792
301,461
146,897
millers have bought cash wheat rather freely.
1,816,401
The world’s Same wk. ’09 421,207 5,381,821 4,355,979 2,336,588
112,481
2,842,807 2,097,100
3,075,851
Same wk. ’08
458,945
6,109,308
shipments reached only 11,568,000 bushels, against 13,328,000 in the previous week and 12,224,000 last year.
There is Since Aug. 1
1910
6,689,543 123,613,470 62,460,216 85,665,867 32,320,770 2,688.882
Still believed to be quite a large short interest in the wheat
1909
8,864,723 144,035,361 54,816,085 75,946,883 39,013.859 3,721,842
markets at home and abroad, showing that the general senti¬
190S
8,985,602 141,186,573 42,162,647 74,953,213 44,321,137 3,587,984
ment is bearish and that possibly the short side is somewhat
overcrowded.
To-day prices declined on favorable foreign
Total receipts of flour and grain at the seaboard ports for
crop news, dulness on the spot and liquidation.
the week ended Dec. 3 3,910 follow:
.
-
....
.
..
DAILY CLOSING PRICES OF WHEAT
Sat.
99 *
Tues.
Wed. Thurs.
Fri-
99 * 99 34
98 * 98 34
98 3-4 97 34 97 34 96 34
103 34 103 54 104
103 34 102 54 102 34
No. 2 red winter.
December delivery In elevator..98
May delivery in elevator
FUTURES IN NEW YORK.
Mon.
99
98 34
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Wed. Thurs.
Fri.
Sat.
Mon. Tues.
December delivery in elevator
9 1 54
93
91 54
9 1 54
92 34 92
May delivery In elevator.
97 34
97 34
96 34 95 54
97 54 96 54
July delivery in elevator
94 54
94 54
94 34
94
93 54 93
Indian corn futures in the local market have been dull and
featureless.
At the West the trading has been fairly active
with the trend of prices downward of late, owing to increased
-
selling by the country, larger receipts, hedge selling and
liquidation. The cash demand has been light at declining
quotations. Recently a moderate export business was
transacted, but of late the demand from foreign sources has
been extremely small.
The shipments from Argentina to
Europe have been large. The work of husking at the West is
making good progress and materially larger receipts are
Receipts at—
New York
Boston
Portland. Me
Philadelphia
Baltimore
Richmond
New Orleans
.
Flour,
Wheat,
bbls.
bush.
202,787
58,502
314
219,603
174,896
63,124
42,102
3,677
31,650
Newport News
5,714
Norfolk
Galveston
Mobile
Montreal
St. John
1,282
1,474
9,105
4,000
Com,
bush.
Oats,
buth.
Barky,
bush.
77,625
7,735
285.175
87.745
184,459
59,586
11,382
60,772
166,295
38,142
162,000
154,318
24,311
30,078
73,500
r.ooo
39,000
3.000
4,986
100,169
453,297
43.566
368.773
153,000
1,290
Rye,
bush.
12,650
5,009
27,881
Total week 1910.
421.731
Since Jan. 1 1910.16,846,866
449,197
Week 1909
Since Jan. 1 1909.16,211.155
1,210,696
620,724 1,108,424
45,856
45,540
72.622,566 37.308,333 47.574,871 3748,779 890.653
3,168,923 1,292,270 1,014,982 203,153
16,390
91.952,441 38,521,997 42,146,957 7055,231 1080,169
Receipts do not Include
through bills of lading.
grain passing through New Orleans for foreign ports
*
on
The exports
!
from the several seaboard ports for the week
ending Dec. 3 1910 are shown
in the annexed statement: jj£
1584
THE CHRONICLE
Wheat,
Corn,
Flour,
Oats,
Rye,
bush.
bush.
bbls.
bush.
bush.
578,755
56,830
89,695
6,216
307,043
366,000
283,390
19,559
1,000
9,321
25,500
17,666
29,000
31,123
20,300
5,714
9,000
1,474
Exports from—
New York
Portland, Me
Barley,
bush.
3,771
314
Boston
Philadelphia
Baltimore
New Orleans
Newport News
Galveston.
Mobile.
Montreal.
Norfolk
St. John. N. B...
Total week
Week 1909
4,986
1,000
3,000
153,000
1,282
4,000
1,691,188
1,946,741
118,196 209,568
449,998 252,714
Peas,
bush.
16,238
-----
l’605
3,600
„
3,000
i4’ooo
12,816
16,179
30,238
37,000
—
—
5,376
5,545
The destination of these exports for the week and since
July 1 1910 is
as
below:
Flour
Wheat
Since
Com
Since
Since
Week
July 1
Week
July 1
Exports for week and Dec. 3.
1910.
Dec.3.
1910.
since July! to—
bbls.
bbls.
bush.
bush.
United Kingdom...115,399 1,867,235
539,622 16,417,040
Continent
42,533
826,045 1,151,566 10,218,424
Sou. & Cent. Amer. 12,823
474,784
122,392
West Indies
517,110
37,804
Brit. Nor. Am. Cols.
652
56,928
Other Countries
357
63,556
7,000
Total
Total 1909.
..209,568 3,805,656 1,691,188 26,764,856
..252,714 4,450,761 1,946,741 44,322,334
Week
July 1
Dec.3.
bush.
1910.
bush.
3,416
75,148
4,080
34,552
1,000
2,497,100
2,998,348
1,476,156
627,948
7,224
14,273
118,196
449,998
7,621,049
4,380.123
The world's shipments of wheat and corn for the week
ending Dec. 3 1910 and since July 1 1910 and 1909 are
shown in the following:
Wheat.
Exports.
1909.
Week
Dec. 3.
July 1.
Bushels.
Bushels.
Since.
North Amer. 3,448,000
53,107,000
Russia
4,072,000 113,000,000
Danube
1,600,000 55,528.000
Argentina
Australia_
Corn.
1910.
Since
1909.
Since
Since
July 1.
Week
Dec. 3.
July 1.
July 1.
Bushels.
| Bushels.
Bushels.
Bushels.
71,507,000
195,000
100,896,000; 187,000
10,208,000
502,000
13,632,000 1,624,000
4,852,000
124,288,000 /
1
7,368,000
3,620,000
47,902,000
39,759,000
4,356,000
7,150,000
8,464,000
52,705,000
11568000 286,057,000 234,383,000 2,508,000
98,649,000
72,675,000
952,000
464,000
856,000
176,000
._
_.
India
Oth. countr’s
Total
1910.
The quantity
mentioned was
22,240,000
14,936,000
23,054,000
4,182,000
It---
of wheat and
as
corn
follows:
afloat for Europe on dates
[VOL.
whether the Government's return will
ing a larger quantity of the staple ginned than many had
expected, was responsible for lower bids in the goods mar¬
ket; such offers, however, met with no response from holders,
inasmuch as current prices are well below cost of production
based on 15c. raw material.
First hands continued very
firm and conservative on
contracts, and the volume of busi¬
ness done in the
primary market was of meagre proportions.
The fact that many jobbers are
taking inventories, and
Kingdom.
Bushels.
3 1910-. 16,240,000
Nov. 26 1910.. 18,488,000
Dec.
4 1909.. 16,400,000
Dec.
5 1908.. 16,160,000
Dec.
7 1907.. 15,360,000
Dec.
United
Continent.
Total.
Bushels.
Bushels-.
22,528,000
23,464,000
12,640,000
98,400,000
10,240,000
38,768,000
41,952,000
29,040,000
26,000,000
25,600,000
Kingdom.
Bushels.
Continent.
Bushels.
Total.
Bushels.
6,588,000 13,676,000 20,264,000
7,744,000 15,147,000 22,891,000
3,910,000 5,865,000 9,775,000
5,355,000 5,440,000 10,795,000
4,200,000 4,500,000 8,700,000
are
therefore not inclined to enter upon additional commitments,
contributed to the dulness.
In some of these houses stock¬
taking has proceeded far enough to indicate that the quan¬
tity of goods on hand is unusually small, and the complete
returns are likely to show that this condition is quite
gen¬
eral.
For this reason sellers are confident that jobbers will
have to make substantial
purchases of domestic cottons in
order to meet even normal
requirements in the near future.
Local jobbing concerns and houses handling special lines
received frequent requests during the week for
prompt
shipments of holiday goods, which is taken to reflect an
active demand at
retail, as well as limited supplies in the
hands of retailers.
Cotton yarns ruled fairly steady but
quiet, with demand confined principally to actual needs.
The market for silk piece-goods
for spot and spring deliver¬
ies was active and
broader, with an upward tendency on
goods to be made. In men's wear, overcoatings for quick
shipment continued the most active line, and the formal
opening of new lines for next season is awaited with interest,
especially since there is talk of concessions being made.
The feature in the dress
goods market was the naming of
prices on a leading line of worsted-warp broadcloths for
next fall
delivery from 5c. to 10c. per yard below the basis
established
a
year ago.
DOMESTIC COTTON GOODS.—The exports of cotton
goods from this port for the week ending Dec. 3 were 3,722
packages, valued at $364,060, their destination being to the
points specified in the tables below:
1910
New
York to Dec. 3—
Week.
2
35
______
Other European.
China
India
Arabia
Africa
West Indies
Mexico
Central America.
South America
Other countries
_
United
the
e seen.
_
Corn.
to break
Eractical deadlock
between
andyesterday
sellers remain
to
The ginners'
report,buyers
published
and show¬
Great Britain
Wheat.
serve
LXXXXI.
_.
Total
The value of these New York
51
565
.48
319
520
1909
Since
Jan. 1.
1,811
909
58,485
14,246
13,748
6,576
30,447
1,877
Week.
12
22
3,171
250
1,871
46,427
199
534
6
301
824
451
3,722
235,581
5,770
12,953
48,102
Since
Jan. 1.
1,817
1,078
169,644
16,274
25,370
15,434
38,012
1,635
13,208
50,748
21,675
354,895
exports sinch Jan. 1 has been
supply of grain, comprising the stocks in $16,729,702 in 1910,
against $19,503,027 in 1909.
granary at principal points of accumulation at lake and
Ticketed lines of drills and sheetings were in moderate re¬
seaboard ports Dec. 3 1910, was as follows:
quest
and steady; unbranded descriptions received a little
AMERICAN GRAIN STOCKS.
more attention from
Wheat,
Com,
Oats,
Rye,
Balrey,
buyers and a few mills were more dis¬
bzish.
bush.
bush.
bush.
bush.
posed
to
book
orders
for delivery in the early part of 1911;
New York
3,008,000
43,000
977,000
28,000
54,000
the majority, however, continued conservative on forward
afloat
288,000
60,000
Boston
669,000
5,000
25,000
business.
Tickings were in good demand and are reported
Philadelphia
541,000
2,000
64,000
Baltimore885,000
well-conditioned, while denims met with a fair call and
136,000
326,000
136,000
New Orleans
3,000
132,000
133,000
coarse,colored cottons were taken in better volume by the
Galveston
91,000
3,000
Buffalo
2,873,000
manufacturing
trades. A steady movement was noted in
57,000
865,000
91,000
510,000
afloat
4,361,000
311,000
400,000
prints,
particularly
sub-count staple prints, and a good de¬
Toledo
1,563,000
48,000
304,000
7,000
mand was reported for certain specialties.
Detroit
319,000
194,000
Napped cot¬
133,000
14,000
Chicago5,907,000
tons continued seasonably but modeartely active
91,000
6,093,000
12,000
among
afloat
113,000
Milwaukee
secondary distributers. Aside from some sales of drills
141,000
15,000
428,000
13,000
84,000
Duluth
to India and prints to miscellaneous ports,
1,424,000
799,000
6,000
280,000
export trade was
Minneapolis
.11,808,000
19,000
2,879.000
152,000
172,000
quiet.
In
the
St. Louis
print
cloth
market,
Borden
interests were
2,269,000
15,000
345,000
6,000
22,000
Kansas City
4,122,000
active bidders for narrow sub-count print cloths at 3 l-16c.
197,000
194,000
Peoria
10,000
46,000
1,595,000
2,000
for 27-inch 56x52s for December delivery, which is l-16c.
Indianapolis
523,000
127,000
94,000
On Lakes
above the price recently paid.
2,072,000
415,000
158,000
Other print cloths and con¬
40,000
302,000
vertibles were in light but steady request; 38J4-inch standard
Total Dec.
3 1910. .42,990,000
1,545,000
15,758,000
507,000
1,849,000
Total Nov. 26 1910..42,485,000
gray goods remain unchanged.
1,452,000
15,502,000
453,000 2,206,000
Total Dec.
4 1909.-31,086,000
4,208,000
13,580,000
912,000 4,058,000
WOOLEN GOODS.—The naming of lower prices on a
Total Dec.
5 1908..51,215.000
4,589,000
9,070,000 ' 1,102,000 6,767,000
leading
line of broadcloths for fall, 1911, despite the firmness
CANADIAN GRAIN STOCKS.
in the wool market, occasioned much
Wheat,
Corn,
Oats,
Rye,
surprise in dress goods
Barley,
bush.
bush.
bush.
bush.
bush.
circles;
the
it
reduction,
is
Montreal.
thought,
was
made with a view
283,000
20,000
1,453,000
88,000
to stimulating demand, and the result is awaited with inter¬
Fort William
3,580,000
Port Arthur
1,717,000
est. Current business in the
dress-goods market for near-by
Other Canadian
4,639,000
and spring delivery was of moderate
proportions, and with¬
Total Dec.
3 1910. .10,219,000
20,000
out particular feature outside of continued
1,453,000
88,000
offerings of stock
Total Nov. 26 1910.-12.048,000
22,000
1,058,000
52,000
Total Dec.
4 1909..10,393,000
goods at concessions. Some of the cheaper suitings and over¬
64,000
758,000
147.000
Total Dec.
5 1908.. 5.580,000
28,000
241.000
coatings for next fall delivery were opened in the men's wear
81,000
SUMMARY.
market,
and general lines%of overcoatings are expected to be
Wheat,
Corn,
Oats,
Rye,
Barley,
shown for that season in the course of two or three weeks;
bush.
bush.
bush.
bush.
bush.
American
42,990,000
1,545,000
15,758,000
507,000
opinion is divided as to whether prices will be lower or un¬
1,849,000
Canadian
10,219,000
20,000
1,453.000
88.000
changed. A well-known line of fine light-weight worsted
Total Dec.
3 1910..53,209,000
1,565,000
17,211,000
507,000
suitings
was advanced 5c. a yard, and the mill making this
1,937,000
Total Nov. 26 1910..54,533,000
1,474,000
16,560,000
453,000 2,258,000
advance
announced that additional orders for production
Total Dec.
4 1909..41,479,000
4,270,000
14,338,000
912,000 4,205,000
before Feb. 1 could not be accepted.
Duplicate orders on
spring lines of men's wear generally came forward slowly.
THE DRY GOODS TRADE.
FOREIGN DRY GOODS.—Silk goods and ribbons were
New York, December 9 1910.
in better request and firmly held.
Imported woolens and
With the exception^of
seasonable’gactivity in holiday worsteds were taken in moderate quantities only. Trading
merchandise, trading in textile markets generally was quiet in linens was confined chiefly to
lines, an active
during the week. Dulness was noticeable, particularly in the demand coming from retailers housekeeping
who are preparing for their
cotton goods division, where most interests seemed
disposed January white sales; but dress linens for spring delivery were
to await the Government cotton
report this afternoon, giv¬ somewhat less active; prices rule very firm. An easier tone
ing the final estimate of the yield; at least the quietness
developed in the burlap market, reflecting the decline in
was commonly
attributedlto this factor; but whether this Calcutta, but prices remain quotably
was the only
uncertainty holding business in check and week-end; business was light in volume. unchanged at the
The
visible
..
-
“
..
.
-
...
.
.
.
-
.
..
.
.
.
.
..
.
“
.
i
.
.
..
.
"
.
.
.
..
.
.
_
.
_
-
-
-
_
_
Dec. 10
THE
1910.|
Oity Beta^tmemt.
State and
MUNICIPAL BOND
SALES IN NOVEMBER.
Nearly 24 millions of municipal bonds were sold during
November, the exact amount being $23,712,051. In addi¬
tion to this, $19,217,845 temporary loans were negotiated
$2,368,779 bonds put out by places in the Dominion of
Canada.
Among the larger and more important issues
placed last month are the following: $1,000,000 33^s of the
State of Maryland, $1,225,000 5s of the Kaw Valley Drainage
District, Kan., $500,000 4s and $475,527 6s of Portland,
Ore., $825,000 4^s of Seattle, Wash., $750,000 4s of the
County of Allegheny, Pa., $250,000 4.10s and $1,000,000 4s of
Cleveland, Ohio, $350,000 4^s and $300,000 4s of Dallas,
Tex., $580,000 4s of Pawtucket, R. I., $528,000 4s of
Fall River, Mass., $500,000 4^s of Atlanta, Ga., $400,000
and
Denominations: $500 each, or such other amounts as the purchaser may
Date Jan. 1 1911.
Interest (rate not to exceed 5%) payable
annually at the City Treasurer’s office or such other place
of Minnesota or New York City .or Chicago, as th°! purchaser may
Certified check for 10% of bid, payable to the City Treasurer, is
Official circular states that the principal and interest of all previous issues
have always been promptly paid at maturity, and that no bonds have ever
been contested; also that no controversy or litigation of any
now
pending or threatened affecting the corporate
or
pality or the titles of its present officials to their
validity of these bonds.
1910
1909
1908
1907
1906
1905
1904
1903
1902
1901
Month o
November.
For the
Eleven Mos.
$23,712,051
18,906,555
28.427.304
4.408,381
12,511,550
$279,4 3,462
25,888,207
32,597,509
14,846,375
13,728,493
6.989,144
307,673.842
285,747.250
213,924,703
180,483,172
174.825.430
240,819,161
138,789,253
136,895,772
116,092,342
Month of
November.
1900
1899
1898
1897
18Q6
1895
1894
1893
1892
For the
Eleven Mos.
$9,956,685
$123,572,311
8,790,489
7,721,284
6,868,775
34,913,894
6,524,901
4,549,580
7,300,770
113,131,780
95,778,450
120,128,531
95,831,773
105,475,829
103,689,851
60.114,709
80,526,266
5,176,012
Owing to the crowded condition of our columns, we
obliged to omit this week the customary table showing
month’s bond sales in detail.
It will be given later.
Ohio.—Temporary Loan.—
has issued temporary loan
notes for $10,500 in anticipation of taxes.
Atlantic County (P. O. Mays Landing), N. J.—Bond Sale.
—On Dec. 7 the $60,000 5% bridge-rebuilding bonds de¬
scribed in V. 91, p. 1526, were awarded to Weil, Roth & Co.
Ashtabula, Ashtabula County,
city, according to reports,
The other bids were:
JR. M. Grant & Co., N. Y
101.52
tic City
103.07 A. B. Leach & Co., N. Y
101.436
N. W. Harris & Co., N. Y__.102.2891 Howard K. Stokes, N. Y
101.235
Date Jan. 2 1911.
Interest semi-annual. Maturity $10,000 yearly on
of Cincinnati at 103.62.
Guarantee Trust Co., Atlan-
Jan. 1 from 1920 to
G. G. Blymyer &
Bellaire, Belmont County,
Co. of San Fran¬
Ohio.—Bond Sale.—On Oct. 11
$30,000 bonds (the unsold portion of the issue of $40,000
4% 20-year coupon refunding water-works bonds mentioned
in V. 91, p. 895) were sold to Seasongood & Mayer of Cin¬
the
and accrued interest.
Bronxville, Westchester County, N. Y.—Bond Sale.—It
is stated that on Nov. 30 John J. Hart of Albany was
awarded the following bonds as 4.40s:
$11,500 16-year (average) series *T” street-improvement bonds for $11,538 70—the price thus being 100.336.
6,500 11-year (average) series “J” sewer bonds for $6,516 80—the price
thus being 100.258.
1,200 4-year series “K” street-improvement bonds for $1,201—the price
cinnati at par
are
the
thus being
100.083.
Brooklet, Bullock County, Ga.—Bond Offering.—Proposals
will be received until 10 a. m. Dec. 15 by Brannen & Booth,
attorneys
(P. O. Statesboro), for
building and site-purchase
p.
Macon, Ga.—Arbitration Board Reports As to Value of
Plant.—The arbitration committee appointed to
determine the value of the plant of the Macon Gas Light &
purchasing, fixes the
is said that both the
city officials and the water company officials are satisfied
with the findings.
The election to vote bonds in the amount
named will be held, it is expected, about March 15.
Seneca Falls, Seneca County, N. Y.—Bonds Declared
Invalid by Court of Appeals.—The Court of Appeals has
decided that the $240,000 water bonds voted by the village
in June 1909 are invalid, as women tax-payers were denied
the right to vote on the proposition.
For this same reason
the bonds were declared illegal in Sept. 1909 by Justice
Benton of the Supreme Court, Seventh Judicial District.
Water Co., which the city purposes
value of that property at $699,000.
It
737.
Bond Proposals and
have been as follows:
reports, $40,000
to
,
Sale.—According
6% street-improvement bonds were
County, Cal.—Bond
awarded on Nov. 28 to
cisco at 108.463.
Water
p.
1925 inclusive.
Azusa, Los Angeles
Goldfield, Teller County, Colo.—Litigation.—Appeal has
been taken to the State Supreme Court from the District
Court of Denver Co., which ref used to grant the town an injunc¬
tion restraining the holders of $30,000 of its outstanding
obligations from selling or transferring the same. The
bonds in question were issued some time ago for the pur¬
chase of land and water rights.
The town authorities, it is
said, claim that the land and pretended water rights were
not worth more than $2,000 and that the issuance of the
bonds was the result of a fraudulent scheme.
89,
Interest March and Sept.
This
News Items.
V.
Ohio.—Bond Sale.—An
bonds was awarded on
for $24,860 (103.583)
County,
Ashtabula
Andover,
issue of $24,000 4}^% water-works
Dee. 5 to Otis & Hough of Cleveland
and accrued interest.
Denomination $500.
Date July 15 1910.
Maturity from March 1 1916 to Sept. 1 1930.
Ore., and $350,000 4s of Louisville, Ky.
of municipalities emitting bonds and the num¬
ber of separate issues made during November 1910 were 189
and 275, respectively..
This contrasts with 297 and 447 for
October 1910 and with 318 and 412 for November 1909.
For comparative purposes we add the following table,
showing the aggregates for November and the eleven months
series of years:
within the State
designate.
required.
kind is
boundaries of the munici¬
respective offices
the
The number
a
semi¬
desire.
5s of Salem,
for
1585
CHRONICLE
Negotiations this week
$7,000 6% gold school¬
bonds voted on Sept. 1 (Y. 91,
817).
annually at Brooklet.
1919, 1923, 1927 and
1910 $146,502 13.
threatened controversy or
litigation affecting the corporate existence or the boundaries of the town, or
the title of the present officials to their respective offices, or the validity of
Denomination $700.
Date Jan. 1 1911. Interest
Maturity $1,400 on Jan. 1 in each of the years 1915,
1931.
No debt at present.
Assessed valuation in
According to the official circular, there is no
these bonds.
Buffalo, N. Y.—Bonds
Awarded in Part.—Of the two
offered
Dec. 6
issues of 4% registered refunding bonds
on
and described in V. 91, p. 1526, only the $100,000
water issue was sold.
The purchaser was the Security Trust
Co. in Rochester at 100.10 and accrued interest.
bids were received.
Maturity $5,000 yearly on Jan. 1
1912 to 1931 inclusive.
refunding
No other
from
Burkburnett
Independence School District (P.
0. Burk-
burnett), Wichita County, Tex.—Bond Sale.—The $16,000
10-40-year (optional) school-building bonds mentioned in
V. 91, p. 895 were awarded on Dec. 1 to the State of Texas
at par
and accrued interest for 5s.
Denomination $1,000.
Date April 10 1910.
Interest annual.
Ohio.—Bond Sale.—We have just
been advised that the $3,500 4% Cumberland Street improve¬
ment (village’s portion) bonds, bids for which were rejected
on August 12 (V. 91, p. 477), were sold a few days after that
date to local parties.
Maturity $1,000 yearly on Jan. 1
from 1918 to 1920 inclusive and $500 on Jan. 1 1921.
Chamberlain, Brule County, So. Dak.—Bond Election.—
Reports state that an election will be held Dec. 20 to vote on
a proposition to issue $8,500 5% refunding bonds.
Ma¬
Caldwell, Noble County,
turity July 15 1921.
Checotah, McIntosh County, Okla.—Bond Sale.—On
Nov. 30 the $40,000 6% sewer bonds were purchased by
H. Maser at par and accrued interest.
A bid of par
Mich.—Bond Sale.—The $30,- John
less $800 was also received from the Dallas Bank & Trust
000 4% coupon street-improvement bonds voted on Nov. 8
Co., while F. R. Stone offered par less 81,600. These bonds
(V. 91, p. 1399) have been awarded to local parties at par.
were offered on Nov. 29 (V. 91, p. 1342), but all bids re¬
Interest at the City Treasurer’s office.
Bonds are exempt from all taxes.
ceived on that day were rejected.
Maturity July 1 1935.
Albany, N. Y.—Bond Offering.—Proposals will be received
Alfalfa
Cherokee,
County,
Okla.—Bond
Sale.—The $25,000
until 11 a. m. Dec. 15 by Howard N. Fuller, City Comp¬
and
the
$5,000
6%
bonds
offered
light
water
for sale last
troller, for the following 4% registered bonds*
$100,000 (third series) water-improvement bonds.
Denomination $1,000. January, have been sold, we have just been advised, to John
Maturity Dec. 1 1930.
Nuveen & Co. of Chicago at par.
Denomination $500.
100,000 (second series) new high-school bonds.
Maturity $5,000 yearly Interest June and December.
Adrian, Lenawee County,
on Dee. l from 1911 to 1930 inclusive.
Dec. 1 1910.
Interest semi-annually by mailed
are exempt from taxation.
Certified check for 2% of
able to Otto -Tantz, City Treasurer, is required.
Bonds will
delivery Dec. 20.
Purchaser to pay accrued interest.
check. Bonds
bonds bid for, pay¬
be ready for
Date
Chicago (Ill.) Sanitary District.—Bond Offering.—Addi¬
hand relative to the offering on Dec. 22
tional details are at
Minn.—Loan Offering.— of the $1,000,000 4% coupon (with privilege of registration
Proposals will be received until 7:30 p. m. Dec. 13 by the as to principal) bonds mentioned in V. 91, p. 1526. Pro¬
City Council at the office of C. J. Dudley, City Clerk, for the posals for these bonds will be received until 1 p.m. on that
following Loans authorized at the election held Nov. 8
day by I, J. Bryan, District Clerk, at Room 1500, American
(V. 91, p. 1274); '
^
Trust
Albert
Lea, Freeborn County,
$91,000 permanent improvement revolving fund certificates.' Vote 926
>)
to 01 s.
Maturity Jan. I 1921.
18,000 (pity’s portion) improvement bonds. Vote 913 to 91,
W..
Jan. 1 1925. \
7
!
:
v m
20,000 bonds, of which $15,500 will be used to fund outstanding water
k* a
warrants and $4,500 to extend the water mains. Vote 689 to 87.
Maturity
•
9J9I A Maturity $2,000 yearly on Jan. 1 from 1916 to 1925
inclusive.
Building, Chicago.
'
n
Denomination $1,000.:
Date Jan. 1 1911. Interest semi-annually at
the District Treasurer’s office.,( Maturity $46,000 on Jan. 1 1913 and
$53,000 yearly on Jan. 1 from, 1914 to 1931 inclusive.
cash) on some Chicago hank for 6% of bid, made payable to the “Clerk of
Certified check (or
the Sanitary
District ot Chicago,” is
required.
-
1586
THE
CHRONICLE
[VOL.
LXXXXI.
The
official notice of this bond offering will be found
$500.
Date Dec. 1 1910.
among theDenomination
Interest semi-annually at
office of the Sinking Fund Trustee.
Maturity $500 each six months
from April 1 1915 to Oct. 1
Department.
1924 Inclusive.
Childress, Childress County, Tex.—Bond Sale.—The
Dunmore,
Lackawanna
$4,000 5% 10-40-year (optional) water-works bonds
County, Pa.—Bond Sale.—On
regis¬ Dec. 6 the $65,000 434%
tered by the State
coupon bonds mentioned in V. 91,
Comptroller
on Sept. 21 (V. 91, p. 895)
p. 1527, were awarded to N. W. Harris & Co.
have been purchased
of New York
by E. C. Badley of Water Valley, Miss. City,
for $65,038 50(100.059) and aecrued interest.
Cincinnati School District (P. O.
Cincinnati), Ohio.—Bond
Denomination $1,000. Date Jan. 1 1911.
Sale.—On Dec. 5 the $240,000
4% 40-year coupon school- Maturity part yearly on Jan. 1 from 1912 to 1935.Interest semi-annual.
property-improvement bonds described in V. 91, p. 1466,
Ellis County (P. O.
were awarded to the Citizens’
Waxahachie), Tex.—Bonds Not Sold.—
National Bank, Weil, Roth & No bids were
received on Dec. 1 for the 7 issues of
Co. and the
the advertisements elsewhere in
this
Davies-Bertram Co. of Cincinnati at their joint
bid of 100.613 and accrued interest.
The following bids
were also received:
5% 10-40(optional) road district bonds, aggregating $582, 500,
and
described in V. 91, p. 1049.
Elmore County (P. O. Mountain
Home), Idaho.—Bond
Sale.—An issue of $27,200
534% refunding bonds was
awarded on Nov. 28 to
Woodin, McNear & Moore of Chi¬
cago for $27,700—the price thus
being 101.838. The other
bidders
year
Seasongood & Mayer\Cin__$241,392 Market Nat.
Bank, Cin
German Nat.
$240,500
Bank..]
E. H. Rollins & Sons, Chic. 240,360
Western-German Bank, Cln. 240,726 Central Tr. & S. D.
Co., Cin. 240,312
Atlas National Bank, Cin__ 240,250
A bid of par vras received from
tne Columbia Bank &
Savings Co. In
Cincinnati for $10,000 worth of bonds.
were:
S. A. Kean, &Co.,
Chicago..$27,675|C. H. Coffin, Chicago.
John Nuveen &
$27,301
Co., Chicago 27,472 | Coffin & Crawford,
Chicago. 27,300
Cleveland, Ohio.—Bond Sale.—On Dec. 5 the $500,000
4% 30-year coupon grp,de-crossing bonds described in V.
91,
1467,
p.
were
awardei, it is stated, to Otis & Hough and
Co., both of Cleveland, at their
Denomination $1,000.
the Tillotson & WcPo'&t
joint bid of 100.062f,.
*
4)4% 30-year school bonds, the bid for which was
on July 19 (V.
91, p. 229), have been sold.
Ephraim, Sanpete County, Utah.—Bond Sale
Postponed.
—The sale of the
$81,000 6% water-works bonds
recently
voted (V. 91, p.
1400), which was to Have taken place Dec.
1,
was
postponed until Dec. 15. Peter C. Anderson is
City
Recorder.
Clinton
County (P. O. Plattsburgh), N. Y.—Bond Offer¬
ing.—Proposals will be received until 10 a. m. Dec. 15
by
Charles Sample, Chairman of Board of
Supervisors, and
rejected
Curtis E. Inman, County
Treasurer, at the City National
Bank in
Plattsburgh,for$110,000
434% registered refunding
bonds.
Denomination $1,000.
Date Jan. 2 1911.
Interest semi-annually at
City National Bank In Plattsburg in New York
exchange.
Maturity
Jan. 2 as follows: $3,000 in 1912 and in
1913 and $4,000 yearly from
1914 to 1939 inclusive.
the
on
Coal
Grove, Lawrence County, Ohio.—Bond
Proposals will be received until 12 m. Dec. 15 Offering.—
by R. A.
Gregory, Village Clerk, for $2,000 5% coupon prison
bonds.
Authority 3939, General Code.
Denomination $500.
Date Jan. 1
Interest semi-annually at the First
National Bank in Ironton.
Maturity 5 years from date. Bonds are
tax-exempt. Certified check
for $200, payable to William
Bonded
debt, not including this Issue, Shattuck, Treasurer, is required.
$21,000.
Floating debt $7,500.
Colorado Springs School District No. 11
(P. O. Colorado
1911.
Springs), Colo.—Bonds Withdrawn from the Market.—The
$25,000 bonds (the unsold portion of the $125,000
10-20-year
[optional] school-building and ground-purchase bonds
men¬
tioned in V. 91, p. 896) have been
withdrawn from the
market.
Connellsville
Township School District (P. O. South
Con-
nellsville), Fayette County, Pa.—Bond Sale.—On Nov. 30
$12,000 5% gold coupon or registered
school-building bonds
were awarded to D. R.
Tinbrie for $12,500—the price thus
being 104.166.
Denomination $250.
Date Dec. 1 1910.
Interest April 1 and Oct. 1
at the Second National Bank in
Connellsville. Maturity $3,000
Oct. 1 from 1911 to 1914 inclusive.
yearly on
Bonds are tax-free to holder, district
paying taxes. Bonded debt (this issue). 812,000.
Sinking fund, $3,000. Assessed valuation In 1910. Floating debt, $1,900.
$1,225,987.
Coronado, San Diego County, Cal.—Bond Election.—
Propositions to issue the following bonds will be voted
upon,
it is
stated, Dec. 14: $17,500 for the east side sewer
system,
$10,500 for the K Street sewer and bay
outlet, $8,000 for
sewer laterals in all
city alleys, $6,700 for asphalting Orange
Avenue, $10,000 to improve the fire department,
$2,000 to
plant trees or palms on Orange Avenue and
for a
$15,000
city hall.
Cottage Grove, Lane County,
Ore.—Description of Bonds.
—We are advised that the
$30,000 6% warrant-funding
bonds awarded on Nov. 14 to Ulen & Co.
of Chicago at par
(V. 91,
p.
1527)
are
dated Oct. 1 1910.
1930.
in denominations of $1,000 each and are
Interest semi-annual.
Maturity Oct. 1
Council Bluffs, Pottawattamie
County, Iowa.—Bond Sale.
—The $20,000 4)4%
fire-engine-house bonds mentioned in
V. 91, p. 1196, were sold on Nov. 23 to
the Harris Trust &
Savings Bank of Chicago at 100.87.
Denomination
turity ten
$500.
years.
Date Nov.
1
1910.
Interest January and July.
Englewood, Bergen County, N. J.—Bond Sale.—The
$13,000
Essex
County, Mass.—Note
received until 11a.m. Dec. 12 Offering.—Proposals will be
by the County Commissioners,
Moody Kimball, James C. Poor and J.
M. Grosvenor
Jr., at
Salem, for the discount of the following notes dated Dec.
1
1910:
$60,000 Haverhill Bridge-approach
notes.
Denominations two notes of
$25,000 each and one of $10,000.
40,000 chain-bridge notes.
Denominations
two notes of $15,000 each
and one of $10,000.
28,000 chain-bridge notes.
Denominations two notes of $10,000 each
and one of $8,000.
10,000 Salem court-house note.
The
bridge notes are due April 3 1911 and the court-house
note matures June 1 1911.
The genuineness of the notes
will be certified to
by the Old Colony Trust Co. of Boston,
which will further
certify that the legality of the issues
has been approved
by Storey, Thorndike, Palmer & Dodge
of Boston, a copy of whose
opinion will be delivered to the
purchaser. The notes are exempt from taxation.
Fall River, Bristol
County, Mass.—Bond Offering.—Pro¬
posals will be received, according to
dispatches, until 10:30
a.
m. Dec. 14
by the City Treasurer for
dated Dec. 1 1910 and due in 10
years.
$100,000 4% bonds,
Franklin, Franklin County, Neb.—Bond Sale.—The
$8,000
5% 5-25-year (optional) electric-light bonds voted on Oct.
11
(V. 91, p. 977) were awarded in November to the
Hanchett
Bond Co. at par less $300 for
expenses.
Denomination $500.
Date Dec. 1
1910.
Interest semi-annual.
George County (P. O. Lucedale), Miss.—Bond Sale.—The
$40,000 5% coupon court-house and jail bonds described in
V. 91, p. 897, have been sold.
Glen Ridge School District (P. O. Glen
Ridge), Essex
County, N. J.—Bond Sale.—On Dec. 6 the $35,000
434%
coupon school bonds described in V. 91, p.
1467, were
awarded to Outwater & Wells of
Jersey City at 101.13.
Other bids
received
were
as
follows:
Essex Title Guaranty & Trust Co.,
Montclair..
100.883
John D. Everltt & Co., New York
100.33
Maturity on Dec. 1 as follows: $2,000 in each of the years
1932; $3,000 in each of the years 1933, 1934 and 1935 and 1930, 1931 and
$4,000 In each
of the years 1936, 1937, 1938, 1939 and
1940.
Grantville, Coweta County, Ga.—Bond Sale.—An issue
$12,000 2-25-year (serial) school bonds was awarded on
Oct. 28 to the J. B. McCrary Co. of Atlanta.
Denomination
$500. Date July 1 1910. Interest annual.
Hardin County (P. O. Kenton), Ohio.—Bond
Offering.—
Proposals will be received until 12 m. Dec. 12 by Elmer J.
Carey, County Auditor, for $16,405 5% pike-construction
of
Interest semi-annual.
Ma¬
Cuyahoga County (P. O. Cleveland), Ohio.—Bonds Not
Sold.—Reports state that no bids were received on Dec. 7
for the
$300,000 4% coupon court-house-construction bonds
described in V. 91, p. 1467. It is further
stated that they
will be re-advertised as
434 Per cents.
bonds.
Cuyahoga Falls, Summit County, Ohio.—Bids.—The fol¬
lowing bids were received for the $8,200 5% Front Street
improvement (village’s portion) bonds awarded to Seasongood & Mayer of Cincinnati on Nov. 28 (V. 91,
p. 1527) at
Sections 7218 and 7219, General
Code.
Denominations
each, 5 bonds of $1,160 each and 5 bonds of
$1,025 each.
Interest semi-annually at the
County Treasurer’s office.
Maturity $3,555 yearly from 1911 to 1914 Inclusive and $2,185 in 1915.
Certified check on some Kenton bank (or cash)
for $1,000, payable to the
County Auditor, Is required.
103.67 and accrued interest.
Seasongood & Mayer, Cin__$8,501 001 Otis & Hough,
Stacy & Braun, Toledo
8,337 60[Weil, Roth & Cleveland-_$8,330
Co., Cin
00
8,327 10
Authority,
4 bonds of $1,370
Date Dec. 1 1910.
Proposals will also be received until 12 m. Dec. 19 by
Auditor, for $27,240 5% ditch-
Elmer J. Carey, County
construction bonds.
Dayton, Columbia County, Wash.—Bond Election Pro¬
Authority, Sections 6489, 6492 and 6493, General Code.
posed.—It is reported that a petition will be presented to
Denomina¬
the tions: 3 bonds of
each, 3 bonds of $270 each, 3 bonds of $680
City Council asking them to hold an election to submit to 4 bonds of $1,290$1,170
each,
each, 4 bonds of $1,720 each, 2 bonds of $240
each, 2
the voters a proposition to issue
bonds of $220 each, 4 bonds of $1,270
each,
4
bonds
of
$300 each and 4
$20,000 street-paving bonds. bonds of $410 each. Date Dec. 1
1910.
Interest semi-annual. Ma¬
Dinwiddie County (P. O. Dinwiddie),
turity $7,570 in 1911 and in 1912, $7,110 In 1913 and $4,990 In
Va.—Bid.—W.
1914.
Cer¬
N. tified check on some Kenton bank (or
Coler & Co. of New York
cash) for $500, payable to the
City have been given an option at Auditor, Is required.
County
par and interest on an issue of $82,500
6% road bonds.
Harrison County (P. O. Gulfport), Miss.—Bonds
These securities take the place of the
Not Sold.
$82,500
bonds
—No
sale was made of the $50,000
(the
unsold portion of the $102,500
Road
6%
District
No. 2
5% bonds mentioned in bonds offered on Dec. 5
Y. 89, p. 1439) which have been canceled.
(V. 91, p. 1468.)
Highland Irrigation District (P. O. Las Animas), Bent
Dover (P. O. Canal Dover), Tuscarawas
County, Ohio.— County, Colo.—Bond Sale.—This district has sold
Bids Rejected.—Reports state that the
the $25,000
bids received on
6% coupon irrigation-works bonds, proposals for which
Dec. 1 for $10,000 4%
were
electric-light and power-plant bonds asked (V. 90,
p. 647) until March 12.
offered on that day were rejected.
Interest June 1 and
Dec. 1.
Maturity from March 1 1920 to March
1 1930.
Dbg. 10
Homer, Claiborne
Parish, La.—Bond Sale.—It is stated
$40,000 5% water-works bonds offered on Nov. 1
and described in V. 91, p. 977, were sold at private sale
about Nov. 23.
Maturity Jan. 1 1950, subject to call after
that the
Jan. 1 1930.
District, Tex.—Bond
(optional) bonds registered
by the State Comptroller on Sept. 19 (V. 91, p.897) have been
purchased by the Houston County Permanent School Fund.
Jefferson, Ashtabula County, Ohio.—Bond Sale.—An
issue of $24,000 4)4% 1334-year water-works bonds has, it is
stated, been awarded to Otis & Hough of Cleveland for
$24,860—the price thus being 103.583.
Jellico, Campbell County, Tenn.—No Bonds Offered.—We
are advised that there is no truth in the reports which ap¬
Houston
County Common School
Sale.—The $1,600 5% 5-20-year
peared in some of the newspapers stating that proposals
would be received until Dec. 1 for $90,000 6% water-works
and
sewerage-system bonds.
The Secretary of the Water
Commission writes us that preliminary surveys and estimates
are being made so as to ascertain what amount of bonds it
to issue. As stated in V. 91, p. 1277, these
voted on Sept. 8.
Kanawha School District (P. O. Kanawha), Hancock
County, Iowa.—Bond Sale.—An issue of $1,200 bonds has
been awarded to Geo. M. Bechtel & Co. of Davenport.
will be necessary
securities
were
Kansas City Park District (P. O. Kansas City),
Bond Sale.—The $95,000 bonds recently authorized
p.
1587
THE CHRONICLE
1910.]
Kan.—
(V. 91,
1198) have been sold, according to local papers.
Kaw Valley Drainage District (P. O. Kansas City), Wy¬
andotte County, Kan.—Description of Bonds.—We are ad¬
vised that the $1,225,000 5% river-improvement bonds, the
sale of which was reported in V. 91, p. 1344, are dated Dec. 1
1910 and mature March 1 1940.
They were distributed as
follows: $725,000 to Spencer Trask & Co. of Chicago, $250,000 to the National City Bank of New York and $250,000 to
the National City Bank of Chicago.
Total bonded debt of
district, including this issue, $1,285,000. No floating debt.
Real value (esti¬
Assessed valuation for 1910, $48,676,200.
mated), $100,000,000.
Kingsburg, Fresno County, Cal.—Bond Offering.—Pro¬
posals will be received until 7:30 p. m. Dec. 15 by J. W. Me
Intyre, City Clerk, for $26,000 5% gold coupon water-
system-construction bonds.
Authority election held Nov. 9 1910.
Denomination $1,000. Date
15 1910.
Interest semi-annually at the City Treasurer’s office.
Maturity $1,000 yearly on Dec. 15 from 1920 to 1945 Inclusive.
Certified
check on a bank In California for $1,000, payable to the City Treasurer, Is
required. Purchaser to pay accrued Interest. Assessed valuation In
1910 $220,000.
Real value (estimated) $750,000.
Dec.
(P. O. Trinidad), Colo.—Bond Offer¬
ing—Proposals will be received until 10 a. m. Dec. 15 by
Juan B. Romero, County Clerk, for the $155,000 434%
coupon refunding bonds voted on Nov. 8 (V. 91, p. 1468).
Denomination $500.
Date April 1 1911.
Interest semi-annual. Ma¬
turity 20 years, subject to call after 10 years.
No debt at present. Assessed
Las Animas County
MaroaJMacon^County, Ill.—Bonds Offered by Bankers.—
The Harris Trust & Savings Bank of Chicago is offering for
sale $9,000 5% 5-13-year (serial) coupon public-improve¬
ment bonds.
Denomination $1,000.
Date March 1 1910. Interest annually at the
City Treasurer’s office. Total debt, Including this Issue, $12,590 68.
Real value (estimated), $1,000,000.
Martin County (P. O. Fairmount), Minn.—Bond Sale.—
On Nov. 29 the four issues of ditch bonds aggregating $54,000,
described in V. 91, p. 1468, were awarded as 5s to the union
Investment Co. of Minneapolis at 102.703 and accrued in¬
Purchaser also to furnish blank bonds.
terest.
The fol¬
lowing bids were received:
Union Investment Co., Minn.$55,460]Thos. J. Bolger Co., Chicago.$55,325
55,260
MinnesotaLn. &Tr. Co.,Minn 55,455 McCoy & Co., Chicago
Wells & Dickey Co., Minn.. 55,380|Kane & Co., Minneapolis— 55,200
Assessed valuation $258,197.
Mason School District
(P. O. Mason), Warren County,
Ohio.—Bond Sale.—On Dec. 1 $25,000 4 34% coupon school¬
building bonds were awarded to Seasongood & Mayer of Cin¬
cinnati at 102.812 and accrued interest.
Other bids re¬
ceived
were
as
follows:
Barto,Scott & Co., Colum.$25,692 501 New First Nat. Bk.. Col. .$25,595 00
Well, Roth & Co., Cincin. 25,657 50 Mason Bank Co., Mason.. 25,462 50
C. E. Denison & Co.,Clev. 25,596 751 Hayden, Mlller&Co., Clev. 25,392 00
Denomination $250.
Interest payable at the Mason
Date Deo. 1 1910.
Bank.
Maturity part each six months beginning March 1 1913.
Medina School District (P. O. Medina), Medina County J
Ohio.—Bond Sale.—On Dec. 1 the $35,000 school-buildirg
bonds offered on that day (V. 91, p. 1278) were awarded to
N. W. Harris & Co. of New York City at 103.82.
County School District, Cal.—Bond Sale.—An
(serial) bonds was sold on
of San Francisco at 100.53.
Denomination $1,000. Date Dec. 1 1910.
Interest annual.
Millburn, Essex County, N. J.—Bond Offering.—Pro¬
posals will be received until 8p.m. Dec. 12 by the Township
Committee for $12,000 434% gold coupon sewer bonds.
Merced
issue of $10,000 5% 1-10-year
Nov. 9 to E. H. Rollins & Sons
Date Dec. 1 1910.
Interest
& Trust Co. in New York
Denomination $1,000.
the United States Mortgage
semi-annually at
City. Bonds are
tax-exempt.
Maturity Dec. 1 1930. No deposit required. Bonds will
be certified as to their genuineness by the United States Mortgage <& Trust
Co.
Their legality is being approved by Caldwell & Reed of New York
City, whose opinion will be delivered to the purchaser.
Milford School District, Clermont and Hamilton Counties,
Ohio.—Bonds Voted.—Reports have it that the election held
Dec. 5 resulted in a vote of 259 “for” to 82 “against” in favor
question of issuing the $75,000 school-building bonds
1469.
Minden, Kearney County, Neb.—Bonds Awarded in Part.
—Of the $21,000 5% coupon refunding water bonds offered
on Feb. 7 and described in V. 90, p. 391, $2,000 were dis¬
posed of to local investors and $18,000 were exchanged for
of the
mentioned in V. 91, p.
old bonds at par.
Mississippi.—Additional Sales of Bonds.—We are advised
“about $275,000” of the $600,000
4% 20-year bonds have been disposed of. This makes a
total of about $121,000 bonds sold since our last report.
See V. 91, p. 1278.
valuation, $13,235,902.
Our informant further states that there
Lee County (P. O. Jonesville ), Va.—Bonds Voted.—The is an option now outstanding on the unsold portion of the
election held Nov. 29 (V. 91, p. 1115) resulted in a vote of issue.
Monrovia, Los Angeles County, Cal,—Bond Offering.—
1,586 to 645 in favor of the proposition to issue the $350,000
road-improvement bonds. Date of offering not yet deter¬ Proposals will be received until 5 p. m. Dec. 16 (not Jan. 1
mined
1911 as at first reported) by C. H. Reed Jr., Gity Clerk, for
Lexington, Fayette County, Ky.—Bond Sale.—We are the following
5% gold coupon bonds.
advised that $16,676 54 6% Limestone Street bonds have
$50,000 water-improvement
bonds. Denomination $625. Maturity
been awarded at par and accrued interest to Kelly Bros, of
$1,250 yearly on Jan. 1 from 1911 to 1950 Inclusive.
120,000
Denomination $500.
Maturity
sewer-improvement bonds.
Portsmouth, Ohio, the contractors who constructed that
$3,000 yearly on Jan. 1 from 1911 to 1950 Inclusive.
part of the street for which the bonds were issued.
Date Jan. 1 1911.* Interest semi-annually at the City Treasurer's office.
London School District (P. O. London), Madison County, Bonds are tax-exempt. Certified check on a bank in California for $10,000,
Ohio.—Bonds Voted.—An election held Dec. 6 resulted, it is payable to the City Treasurer, Is required.
The official notice of this bond offering will be found among
stated, in favor of a proposition to issue $80,000 high-school
under date of Dec. 5 that
.
the advertisements elsewhere in this Department.
building bonds.
Lorena Independent School District (P. O. Lorena), Me
Montclair, Essex County, N. J.—Bond Offering.—Further
Lennan County, Tex.—Bond Sale.—The $5,000 5% 20-year details are at hand relative to the offering on Dec. 12 of the
bonds registered by the State Comptroller on Aug. 8 (V. 91, $66,000 4% gold refunding school (not refunding sewer)
bonds mentioned in V. 91, p. 1528.
Proposals for these
p. 744) were sold on Dec. 1 to the State of Texas at par.
Denomination $500.
Date June 19 1910. Interest annual. bonds will be received until 8 p. m. on that day by the Town
Lowell, Kent County, Mass.—Bond Sale.—Dispatches Council.
Authority, Chapter 101, Laws of 1907.
Denomination $1,000. Date
state that on Dec. 8 $20,000 4% 1-10-year (serial) coupon
Dec. 1 1910.
Interest semi-annually at the Bank of Montclair in Mont¬
municipal bonds were awarded to A. B. Leach & Co. of clair. Maturity Dec. 1 1940. Certified check for 2% of bid, payable to the
Official circular states that there has never
Town Treasurer, is required.
Boston at 104.059.
Denomination $1,000.
Date Dec. 1 1910.
Interest semi-annually at been any default in the payment of any obligations nor has the legality of
the Old Colony Trust Co. of Boston.
Bonds are tax-exempt in Massa¬ these bonds ever been questioned. The validity of the bonds has been ap¬
proved by Hawkins, Delafield & Longfellow of New York City who will,
chusetts.
if-desired, furnish their certificate of validity without charge to the pur¬
Lynn, Essex County, Mass.—Bond Sale.-— Reports state chaser. Bonds will be delivered on or after Deo. 12. S. H. Wenck Is
that $1,000 municipal-loan and $8,500 municipal-improve¬ Town Treasurer.
ment bonds have been awarded to Perry, Coffin & Burr of
Montpelier, Washington County, Vt.—Bonds Defeated.—
A proposition to issue $100,000 school bonds was defeated
Boston at 103.62.
Maturity 10 years.
Date Oct. 1 1910.
McLeansboro, Hamilton County, Ill.—Bonds Voted.— at an election held Dec. 6.
Nassau County (P. O. Fernandina), Fla.—Certificate Offer¬
Reports state that the election held Dec. 1 resulted in favor
of the
ing.—Proposals
will be received until Dec. 14 by the Board
proposition to issue the $20,000 dam and water-worksextension bonds mentioned in V. 91, p. 1468.
of County Commissioners, W. Theo. Waas, Chairman, for
Madison, Morris County, N. J.—Bond Offering.—Pro¬ $49,300 6% road-construction certificates, being part of an
posals will be received until 8 p. m. Dec. 12 (not Dec. 9 as at issue of $60,000.
Denomination $100.
Interest semi-annual. Certificates will be issued
first reported) by the Finance Committee for $100,000 of an
in eleven series, payable one series, yearly beginning four years from date.
authorized issue of $125,000 434% registered sewer bonds.
Denomination $1,000.
Nephi, Juab County, Utah.—Bond Sale.—The State of
Date Jan. 2 1911.
Interest semi-annually in
Madison.
Maturity Jan. 1 1941 subject to call after Jan. 1 1921. The
Utah purchased last month at par the $4,000 water-works
bonds are tax-exempt.
S. G. Wllllts is Borough Clerk.
and
electric-light 5% 20-year bonds dated Oct. 15
Malden, Middlesex County, Mass.—Temporary Loan.— 1910 $11,000
and mentioned in V. 90, p. 1508.
On Dec. 6 a loan of $100,000 due April 10 1911 was negotiated
Newburyport, Mass.—Bond Sale.—The $30,000 4% 1-15with Blake Bros. & Co. of Boston at 3.64% discount and
50 cents premium.
year (serial) coupon school-house bonds, described in V., 9
-
.
1588
THE CHRONICLE
1697, were awarded on Dec. 6 to Perry, Coffin
ioston at 102.80 and accrued interest.
Other
& Burr of
bids received
,
were as
follows:
F. S. Moseley* Co., Boston.102.62
N. W. Harris & Co., Boston. 102.52
First Nat. Bk., Newburyp’t.102.511
for
3
3
4
:
Maturity.
1959
1959
1959
Total
The following revenue bonds
also issued during November:
Revenue
Revenue
Revenue
Revenue
Revenue
Revenue
bonds,
bonds,
bonds,
bonds,
bonds,
bonds,
current
current
current
current
Amount.
$255,700
3,000,000
1.000
$3,256,700
(temporary securities)
Interest.
expenses
expenses
expenses
expenses
5
Amount.
4
$5,000,000
1,600,000
6,002,252
5,000,000
4
150,000
290,000
4^
414
special
special
were
Total
Norwood, Hamilton County, Ohio.—Price
$18,042,252
Paid for Bonds.
—We are advised that the
price paid for the $5,847 18 43^>%
Burwood Avenue improvement bonds, awarded on Nov.
28
to the German National Bank of Cincinnati
(V.
91,
p. 1529)
was $5,942 18 or
101.624.
Datr* Nov. 2 1910.
Interest
annual.
Maturity part yearly from one to ten years.
Oktibbeha County Road District No. 1 (P. O.
Starkville),
Miss.—Bond Sale.—The $20,000 5%
11-20-year (serial)
road-improvement bonds offered without success on Nov. 7
(V. 91, p. 1529) were sold on Dec. 5 to A. J. Hood & Co. of
Detroit at 100.53.
Denomination $500. Date Oct. 3 1910.
Interest semi-annual.
Ottumwa, Wapello County, Iowa.—Bond. Sale.—On Dec. 1
the $275,000 (not $175,000 as at first
reported) 5% water¬
works bonds voted on Nov. 22
(V. 91, p. 1529) were
awarded to the Public Water Co. at
Denominations:
Interest
June
242 bonds of
and December.
par.
$1,000 each and 330 bonds of $100 each.
Pecos, Reeves County, Tex,—Bond Election
Postponed.-^
The election which
the
was
to have been held Dec. 3 to vote
on
question of issuing the $25,000 sewerage bonds men¬
tioned in V. 91, p. 1200, was
postponed.
Perry, Dallas County, Iowa.—Bond Sale.—Arrangements
have been made with Wm.
Honabin, contractor, for the
disposal of “about $80,000” 6% paving bonds at par in
payment for work done.
Denomination $500.
Interest annually on April i.
yearly from 1911 to 1917 inclusive, being subject to call on Maturity part
April 1 in any
year, if assessments are paid in advance.
Phoenix Union High School
District, Maricopa County,
Ariz.—Correction.—We are advised that the
$150,000 bonds
recently sold to Woodin, McNear & Moore of Chicago
44^% interest and not 5% as reported last week, V. carry
91, p.
1529.
Pittsburgh, Pa.—Hiland Sub-School District.—Price Paid
for Bonds.—We are advised that the price paid for the
$250,000 43^% 20-29-year
(serial) bonds awarded on Nov. 30 to
the Commonwealth Trust Co. of
Pittsburgh (V. 91, p. 1529)
was 104.511 and interest—a
basis of about 4.204%.
The
following bids were also received:
J.S.&W.S.Kuhn,Inc., Pitts. 104.293
Safe Dep. & Tr. Co. of Pitts.104.067
Drexel & Co., Philadelphia..104.067
N. W. Harris & Co., N. Y__ 103.709
Lawrence Barnum *Co.,N.Y103.433
Ussing. Scoville & Co., Pitts. 103.29
A bid was also received from E. S.
Bank of
Pittsburgh, N. A
Barr, Lynn & Co., Pitts
103.20
103.10
Dollar Sav. Bk.,
Pittsburgh.103.08
Farson, Son & Co., N. Y
103.02
Wash’ton Tnv. Co., Pittsb. .102.30
Mellon Nat. Bk.,
Pittsburgh. 101.60
Wheeler of Pittsburgh.
Pleasanton, Alameda County, Cal.—Bond
Sale.—During
the month of November the
$20,000 4)/£% water-works
bonds
(the unsold portion of the issue of $40,000 bonds men¬
tioned in V. 91, p. 1051) were
purchased by the State of
California at 100.10.
Denomination $1,000.
May 1 from 1931
Date May 1
to 1950 Inclusive.
1910.
Maturity $1,000 yearly
on
Portland, Ore.—Bond Sale.—We are advised that the
amount of 6% 10-year
improvement bonds placed on Nov. 21
(V. 91, p. 1529) was $475,527 21. The securities were
disposed of as follows:
$100,000 to Hoehler & Cummings of Toledo at
Hopkln Jenkins at 100.125; $10,000 to E. D. Rood 100.0675; $3,000 to
at 100.25; $2,000 to
A. L. Keenan at 100.25; $1,500
to C. Ecks at $100.50;
$4,500 to N. G.
Patterson at 100 50 and the
following awards at par; $30,000 to the Hibernia
Savings Bank of Portland: $15,000 to the
Scandinavlan-American
Bank of
Portland; $5,000 to W. L. Page; $2,500 to A. H.
Maegly; $10,000 to Morris
Bros, of Portland; $75,000 to the
United States National Bank of
Portland;
$15,000 to D. Wennerberg; $1,000 to G. F.
S. Kammerer; $2,000 to Isaiah
Buckman; $500 to E. S. McCoy; $122,000 to W.
F. White; $2,500 to Abe
Tichner and $74,027 21 to the
City Treasurer In trust for funds of the city.
Purchasers to pay accrued interest.
Certified check for 5%
years.
Date Nov. 30 1910.
Interest annually
on Sept. 1 for five years.
yearly
Newhall School
Int.Rate.
Maturity 10
is
Reno, Nev.—Bond Sale.—A. H. Manning, of
Reno, pur¬
chased on Nov. 16 $5,107 75
7% sepcial street-improvement
bonds at. par and $89 38 accrued interest.
Seasongood * Mayer. Cin.$21,262 251 Weil, Roth & Co., Cin
$21,254 00
Hayden,Miller&Co.,Cleve. 21,261 25 S. A. Kean & Co., Chic
21,100 00
Breed & Harrison, Cln
21,255 001 First N. Bk., New Carlisle 20,600 00
Purpose—
$161,276 6% improvement bonds.
Randolph School District (P. O.
Neb.—Bond Sale.—The $15,000 Randolph), Cedar County,
5% 10-20-year (optional)
coupon school-building bonds described in V.
91, p. 900,
have been awarded to W. E.
Barkley Jr. of Lincoln at par
and accrued interest.
New Carlisle, Clark County, Ohio.—Bond
Sale.—On
Dec. 5 the $20,000 5%
coupon water-'works-construction
bonds described in V. 91, p. 1528, were awarded to
Seasongood & Mayer of Cincinnati at 106.311 and accrued interest.
The following bids were received:
Various municipal purposes.
Water bonds
Rapid transit bonds
that proposals will be
by A. L. Barbur, City Auditor,
Interest semi-annual.
required.
,
herewith:
LXXXX1.
Bond Offering.—It is
reported
received until 2 p. m. Dec. 12
Geo. A. Fernaid & Co., Bost.102.29
Estabrook & Co., Boston
102.28
O’d Colony Tr. Co
Boston..102.189
Hayden, Stone & Co., Bostonl02.428 Merrill, Oldham & Co.,
Bost.I02.179
Inst, for Sav., Ncwburyport.102.40
Kuhn, Fisher & Co., Boston.102.155
R. L. Day & Co., Boston
102.39
Blodget & Co., Boston
102.09
C.M.Farnsworth* Co., Bost_102.33 Adams & Co., Boston
102.01
District, Los Angeles County, Cal.—Bond
Sale.—Reports state that the $6,000 5% 1-6-year (serial)
school bonds, proposals for which were asked
until Oct. 3
(V. 91, p. 821) were sold on Nov. 17 to Dr. J. H. Bullard
for $6,001—the price thus
being 100.016.
New York City.—Bond Sale.—The
Sinking Fund of this
city during November purchased at par the bonds given
[VOL.
in September.
Maturity part
Riverside, Riverside County, Cal.—Bonds
Voted.—The
1279) resulted in favor of the
proposition to issue $30,000 Fairmount Park and
$20,000
fire-department 4}^% 1-20-year (serial) improvement bonds.
The vote for the fire bonds was
1,438 to 374 and the park
bonds 1,304 to 496.
Proposals for these bonds will be
opened, we are advised, about March 1 1911.
Rome, Oneida County, N. Y.—Bonds Awarded in Part.—
We are advised that
$40,000 4% Fish Creek water bonds
offered on Dec. 1 were
disposed of to local property owners
at
election held Nov. 25
(V. 91,
p.
par.
Denomination $i,000.
Maturity Dec. 1 1930.
Date Dec. 1 1910.
Interest January and July.
Rushville, Rush County, Ind.—Bond Sale.—On Dec. 1
$10,000 6% water-works bonds were awarded to the
MeyerKiser Bank in
Indianapolis at
follows:
were as
111.
Other bids received
J. F. Wild & Co.,
Indianap.
* Mayer, Cin.-$10,808
Miller, Adams * Co., Ind__.$11,050ISeasongood
10,955 S. A.
10,805
Fletcher Am. Nat. Bk., Ind. 10,940IH. M. Kean. Chicago..
Lukens & Co.
10,400
Breed & Harrison, Cincin..
10,840|W. W. Winslow
10,300
Denomination $1,000.
Date Nov. 15 1910.
Interest semi-annual.
Salt Lake City School District
(P. O. Salt Lake
Lake County, Utah.— Bond Sale.—The
the unsold portion of the issue of
V. 91, p. 746, have been
$410,000 of these bonds
City), Salt
$450,000 4% bonds,
$700,000 mentioned in
disposed of.
awarded
were
Cornick & Co. of Salt Lake
City at
We
on
advised that
Nov. 18 to Mc-
are
95^, while the remaining
exchanged at par for a high-school site.
San Mateo High School District
(P. O. San Mateo), San
Mateo County, Cal.—Bonds
Voted.—According
to reports, an
election held recently resulted in a vote of
390 “for” to 124
“against” a proposition to issue $50,000 high-school-con¬
struction bonds.
$40,000
were
San Saba
County (P. O. San Saba), Tex.—Bonds Not Sold.
Nov. 28 the $75,000 5% 10-40-year
court-house-construction bonds offered on Nov. 1(optional)
and de¬
scribed in V. 91, p. 1200, had not been sold.
These bonds
were registered on Nov. 3
by the State Comptroller.
'Schenectady, N. Y.—Certificate Sale — On Dec. 2 the
$100,000 certificates due March 1 1911 and described in
V. 91, p. 1469, were purchased
by the Albany Savings Bank
of Albany at par for 4.40s
The other bidders were:
—Up to
Bond & Goodwin, New York—$11
premium for 4.50<«.
Kountze Bros., New York—Par for 4.50
per cents
Windsor Trust Co., New York—Par for 4
% per cents.
Seattle, Wash.—Bond Sales for November.—The
bonds, aggregating $227,907 90, were disposed offollowing
during
November:
Amount—
72.
21.
61.
54.
03.
8,716 53
10.014 31.
6,145 23.
14,831 94
13,246 66.
1,365 54.
1,571 95
30,750 55.
6,277 40.
1,493 93.
3,899 24.
$1,821
7,939
2,766
23,713
32,540
5,071
12.888
9,181
32,703
969
Grading
Grade
Purpose.
and
Maturity.
Nov. 18
curb...
Water-main
Paving
Paving
Nov. 11
Nov.12
Nov.12
Nov. 12
Nov. 14
Nov. 14
Nov. 14
Nov.14
Nov.14
Nov. 14
Nov. 17
No\
17
Nov. 17
Nov. 17
Nov. 18
Nov.25
Nov. 25
Nov.28
Grade and curb
Sewer
Sidewalk
Sewer
Water-main
Grade and curb
Grade and curb....
Grade and curb
Sidewalk
Sidewalk
Water-main
Water-main
84.
08.
43.
02.
14.
1915
.Nov. 11 1915
Nov. 11 1915
.
Sewers
Curb and paving
Water-main
Sewers
The
1920
1920
1915
1915
1915
1915
1915
1915
1915
1915
1915
1915
1915
1915
1915
1915
1915
1915
first-mentioned issue carries 6% interest and
the
remaining issues carry 7% interest. The bonds are dated
on different days
in Nov. 1910 and are all subject to call after
one
year.
*
Seneca
County (P. O. Waterloo), N. Y.—Bond Offering.—
Proposals will be received until 2 p. m. Dec. 10 by F. G.
Smith, County Treasurer, for $17,780 good roads bonds.
Authority Chapter 115, Laws of 1898.
Dec.
15
1910.
Interest
Denomination $2,222 50.
Date
semi-annually (rate to be named In bid) at the
Maturity $2,222 50
from 1911 to 1918
Inclusive.
Certified check for 5% of bid, payableyearly
to the
is required.
Total debt, Including this issue, $31,855 56.County Treasurer,
County Treasurer’s office.
tion 1909,
Assessed valua¬
$15,455,275.
Severy, Greenwood County, Kan.—Bonds Awarded in Part.
—Reports state that $3,000 of the $8,000 5% 15-year
coupon
electric-light bonds offered on Nov. 22 and described
in
V. 91, p. 1280, were awarded to local
parties.
Snohomish County (P. O.
Everett), Wash.—Bond Sale.—
On Nov. 28 $100,000 5%
refunding bonds were awarded
to
E.
bidders
H.
Rollins
were
as
& Sons of
follows:
Chicago at
103.375.
Other
Deo. 10
1589
THE CHRONICLE
1*10.1
Seasongood A Mayer, Clm..5102,880 Parson Son 8s Co., Chlcago.5101,585
Harris Tr. it Sav. Bk., Chi*. 102.528 Thos. J. Bolger Co., Chicago 101,051
First National Bank, Ever¬
Woodin, MoNear it 11 ©ore.
100,300
ett
Chicago
102,275
A bid was also received from the State of Washington at par for bonds
subject to call after one year.
Denomination 51,000. Interest annual.
Bonds are subject to call after 10 years.
Somerset County, Pa.—Bonds Voted.—An
election held Nor. 26 resulted in favor of a proposition to
issue $25,000 water-system-improvement bonds.
The vote
is reported as 257 to 66.
Spalding County (P. O. Griffin), Ga.—Bonds Validated.—
Somerset,
validating the $80,000 5% 6-25-year
(serial) gold coupon court-house-erection bonds voted on
Nov. 8 (V. 91, p. 1402) have been signed by Judge Reagan.
Spokane, Wash.—Bond Sale.—Local papers state that
$512,000 paving bonds were disposed of on Nov. 29 to the
J. F. Hill Paving Co. in payment for work done.
Springfield, Greene County, Mo.—Bonds Defeated.—The
election held Dec. 5 resulted in defeat of the question of is¬
It is said that the papers
suing the $475,000 public-improvement bonds mentioned in
V. 91, p. 1470.
Stafford, Stafford County, Kan.—Bond Offering.—Pro¬
posals will be received until 8 p. m. Dec. 20 by G. A. Mikesell, City Clerk, for the $30,000 water-works-system com¬
pletion and $25,000 electric-light-system purchase 5%
bonds voted on Nov. 15 (V. 91, p. 1470).
Interest semi-annually through the fiscal agency
lfaturity 20 years, subject to call after 10 years.
of bid Is reauired.
of the State of Kansas,
Certified check for 2%
Stamford, Jones County. Tex.—Bonds to be Offered Shortly.
are advised that the $10,000 paving bonds voted on
Sept. 20 (Y. 91, p. 901) will be offered for sale in the near
Twinsburg Township (P. O. Twinsburg),
4J^% coupon
road-improvement bonds described in V. 91, p. 1470, were
awarded to Otis & Hough of Cleveland at 100.90, accrued
interest and blank bonds.
The other bids received were as
follows:
Rodgers A Son, Ch. Falls57,0871Seasongood
*
Bid
not marked
was
Maturity $1,000 yearly on Oct. 1 from 1912 to 1918
Shelton, County Auditor, for $48,000 5% coupon
Summit County
(P. O. Akron), Ohio.—Bond Offering.—
Proposals will be received until 11 a. m. Dec. 22 by the
Board of County Commissioners, Charles L. Wirth, Clerk,
for the following 4J^% coupon road-improvement bonds:
597,000 assessment bonds. Maturity 516,000 yearly on Oct. 1 from 1911
to 1915 inclusive and 517,000 Oct. 1 1916 Inclusive.
248.000 county’s portion bonds. Maturity 525.000 yearly on Oct. 1 from
1912 to 1920 insiu8lve and 523.000 Oct. 1 1921.
Authority Sections 2294-2295 and 6912 of the General Code.
Denomina¬
tion 51.000.
Dato Deo. 22 1910.
Interest April 1 and Oct. 1 at the
County Treasurer’s offloe.
Certified cheok for 5% of bonds bid for, pay¬
able to the County Treasurer, is required.
Purchaser to pay accrued
Interest.
Sweet Grass County (P. O. Big Timber), Mont.—Bonds
Not Sold.-—We are advised under date of Nov. 29 that no
award was made oa Nov. 12 of the $85,000 4J^% 15-20-year
coupon refunding bonds dated Jan. 1 1911
and described in Y. 91, p. 1052.
Our informant further
itates that these bonds will be re-offered next spring.
(optional) gold
ditch-
6489, General Code. Denomination $500.
Date
semi-annually at the County Treasurer’s office.
months from June 1 1911 to Dec. 1 1916 Inclusive.
Bidders must satisfy themselves
Certified check for $1,000 Is required.
as to the legality of bonds before bidding.
Bids must be unconditional and
made on blank forms furnished by the Auditor.
Authority
Section
Dee. 1 1910.
Interest
Maturity $4,000 each six
Upland School District, San Bernardino County, Cal.—
Proposed.—Reports state that the Board of
Education proposes to call an election to vote on the question
of issuing $75,000 Polytechnic-high-school bonds.
Vernon, Wilbarger County, Texas.—Bond Offering.—
Proposals will be received at any time for $9,000 water-worksextension and $3,000 sewer-extension 5% coupon bonds
described in V. 91, p. 901.
Bond Election
Denomination
$500.
Oct.
Date
1
1910.
Interest semi-annually In
1910, $2,112,412.
Hoyden. Miller A Oo..Oiev.$8.108 00 Seasongood A Mayer, Cln_$8,051 00
8,040 00
Stacy & Braun. Toledo
8,100 64 Weil. Roth A Co.. Cin
Barto, Scott A Co., Colum. 8,074 00 New First N. Bk., Colum.. 8,038 50
Date Dec. 5 1918.
Maturity 51,000 yearly on Oct. 1 from 1912 to 1919
inclusive.
Bonded debt, including this Issue, 522,000.
No floating debt.
Assessed valuation In 1919, 5807,810.
inclusive.
construction bonds.
future.
electric-light-plaat and water-works-construction bonds.
Maturity 1936.
Stow Township (P. O. Cuyahoga Falls), Summit County,
Ohio.—Bond Sale.—On Dec. 5 the $8,000 43^% coupon
road-improvement bonds described in V. 91, p. 1345, were
awarded to Hayden, Miller & Co. of Cleveland at 101.35
and accrued interest.
The following bids were received:
$7,855
Union County (P. O. Marysville), Ohio.—Bond Offering.—
In addition to the $30,000 5% coupon gravel and stone road
bonds to be offered at 12 m. to-day (Dec. 10), proposals will
also be received at the same time and place by Bert. J.
Vernon or. if held by the State, in Austin.
The
Maturity 40 years, subject to call after 10 years.
these issues, $58,000.
Floating debt, $9,246 85.
Stilwell, Adair County, Okla.—Bonds Voted.—The elec¬
A Mayer, Cin
“Proposals for bonds.”
—We
tion held Nov. 29 (Y. 91, p. 1470) resulted in a vote of 66
“for” to 10 “against” a proposition to issue $45,000 6%
Summit County,
Ohio.—Bond Sale.—On Dec. 7 the $7,000
bonds are tax-exempt.
Bonded debt, including
Assessed valuation for
Va.—Bond Elec¬
Virginia Beach, Princess Anne County,
tion.—A letter received by us on Dec. 7 states that an election
would be held “in about thirty days” to vote on the question
of
issuing bonds.
Walworth County, Wis.—Bond Sale.—On
Dee. 5 the $18,000 5% water-works-construction bonds
offered on that day and described in V. 91, p. 1530, were
awarded to Ulen & Co. of Chicago at 102.563 and accrued
interest.
The following bids were received:
Walworth,
501 John Nuveen A Co., ChlO-518,054 00
001S. A. Kean A Co., Chicago 18,000 00
001 Walworth State Bank,
I
Walworth
18,000 00
Maturity $500 yearly from 1916 to 1919 inclusive, 51,080 yearly from
1920 to 1923 Inclusive and $1,500 yearly from 1924 to 1931 inclusive.
Ulen A Co., Chicago
$18,461
Farson, Son & Co., Chlc__ 18,227
18,201
C. H. Coffin, Chicago
Washington C. H., Fayette County, Ohio.—Bond Sale.—
Reports state that an issue of $2,000 4% street-improvement
bonds was sold on Nov. 30 to the People’s & Drovers’ Bank of
Washington C. H. at 100.60 and accrued interest.
Watertown, Middlesex County, Mass.—Bond Offering.—.
Proposals will be received until 3:30 p. m. Dec. 12 by H. W.
Brigham, Town Treasurer, for the following 4% coupon highschool bonds.
$95,000 bonds dated April 1 1910.
Maturity $5,008 yearly
from 1911 to 1929 Inclusive.
20,000 dated Nov. 1 1910.
Maturity $2,009 yearly on Nov.
on April 1
1 from 1911
to 1920 Inclusive.
Denomination $1,000.
Interest semi-annually at the Fourth National
Bonds are exempt from taxation In Massachusetts and
Bank In Boston.
will be certified as to genuineness by the Old Colony 'Trust Co. In Boston,
which will further certify that the legality of the bonds has been approved
A Dodge of Boston. Bonds will be ready
Purchaser to pay accrued interest.
by Storey, Thorndike, Palmer
for delivery
about Deo. 13.
Waukon, Allamakee County, Iowa.—Bond Offering.—
Proposals will be received by T. B. Stock, Mayor, for $5,000
5% sewer bonds. These securities are payable from a
special tax and are exempt from taxation.
Wayne County (P. O. Detroit), Mich.—No Action Yet
Taken.—The Deputy County Clerk writes us, under date of
Dec. 2, that no action has yet been taken looking towards the
issuance of the $2,000,000 good-road bonds voted (V. 91,
p. 1346) on Nov. 8.
He further state* that nothing will be
Tacoma, Wash.—Bond Sale.—On Dec. 8 the $405,000
20-year gold coupon (with privilege of registration) publicwharf and dock bonds described in V. 91, p. 1530, were
awarded to Blodget <fc Co. and R. L. Day & Co., both of
Boston, at 102.085 for 4J^s—a basis of about 4.343%.
Taylor County (P. O. Abilene), Tex.—Bond Sale.—We are
advised that the $150,000 Precinct No. 1 macadam-road
done for some time to come.
bonds voted on Sept. 17 (V. 91, p. 823) have been “condi¬
Westfield, Union County, N. J.—Bond Offering.—Propos¬
tionally sold.”
als
wfill be received until 8:15 p. m. Jan. 3 1911 for the fol¬
Thomwell Drainage District No. 1, Calcasieu Parish, La.
—Bond Offering.—Proposals will be received until 2 p. m.
lowing coupon (with privilege of registration) bonds:
Jan. 10 1911 by Elmer Baker, Secretary (P. O. Lake Arthur), $40,000 5% sewer, sidewalk and road bonds. Maturity $4,809 yearly on
Jan. 3 from 1912 to 1921 Inclusive.
for $30,000 5% improvement bonds.
Certified check for 16,000 4^% North Main Sewer bonds. Maturity Jan. 3 1921.
Denomination
$1,000.
Date Jan. 3 1911.
Interest semi-annual.
$1,000, payable to the Secretary, is required. Bonds are
Lloyd Thompson Is Town Clerk.
secured by a twenty-year annual acreage tax of 25c. on
The official notice of this bond offering will be found among
11,700 acres of farm land.
Toledo, Ohio.—Bond Sale.—On Dec. 7 the $200,000 4% the advertisements elsewhere in this Department.
13-16-year (serial) water-works-improvement bonds de¬
Wichita, Sedgwick County, Kan.—Bends Authorized.—
scribed in Y. 91, p. 1280, were awarded to Otis <fc Hough of Ordinances have been passed providing for the issuance of the
Cleveland and Seasongood & Mayer of Cincinnati at 100.105 following 5% coupon-improvement bonds.
and accrued interest.
The following bids were received:
$4,397 40 Victoria Place Avenue bends.
Denomination $888, except one
bond of $250 and one of $147 40.
Maturity $147 48 Nov. 1
Otis A Hough, Cleveland, and Soasongood A Moyer, Cludunotl.5200,211 50
1911,
Nov.
1
$388
$250
1912
amd
yearly ou Nov 1 from 1813
Hayden A Miller. Olovolaud
200,183 00
'
Stacy A Braun, Toledo
Hoehler A Cummings, Toledo
200,111 75
par
Allegheny County, Pa.—Bond Offering.—
Proposals will be received until 12 m. Dec. 19 by James
Strang, Chairmaa of Finance Committee, for $30,000 43di%
coupon street-improvement bonds.
to 1920 inclusive.
Main Street bonds.
Denomination $1,888, oxeept one
Maturity $200 42 Nov. 1 1911, $1,988 yearly
1912 to 1914 Inclusive, $2,009 Nov. 1 1913,
$1,000 yearly on Nov. 1 from 1918 to 1919 inoluslve and $2,000
11,300 42 North
bond of $300 42.
on Nov.
1 from
Turtle Creek,
Denomination 51.tee.
Date Nov.
l
Internet semi-annual.
lilt.
Maturity $1,999 yearly ou Nov. 1 from 1915 to 1936 Inclusive and 52.000
yearly ou Nov. 1 from 1937 to 1940 inoluslve.
Bonds are exempt from
State tax.
Oortttod eheek oa a national bank for 51.990 Is required.
The
Nov.
1920.
.
_
exeept one bond
and $488 yearly
agouoy of Kansas
_
Wichita County, Tot.—Bend Election Pro¬
posed.—The City Council has boon petitioned to call an eleetion to vote on the question of iaeumg $80,000 atroet-paving
Wichita Fall*,
official notice ef this bond offering will be found among
bonds.
Department.
the advertisements elsewhere in this
1
3,740 02 Elizabeth Street bonds.
Deuominatlou $409.
of $140 02.
Maturity $149 92 Nov. t 1811
on Nov. 1 from 1812 to 1928 Inoluslve.
Date Nov. 1 1910.
Interest semi-annually at the ftaeal
lu Topeka.
THE
Willow, Glenn County—Bond Election.—We are ad*
propositions to issue the $25,000 city-hall,
visdd that the
1,50Quary
$5,000 city-hall-site and $10,000 fire*engine-houseand ap¬
paratus 5% 1-40-year (serial) bonds mentioned in V. 01,
825, will be voted upon on Dec. 12.
Wooster, Wayne County, Ohio.—Bond Sale.—On Dec. 3
the $5,000 4% 10-year
coupon water-works-site bonds,
described in V. 91, p. 1531, tverC awarded to the Citizens
p.
National Bank in Wooster at
par and accrued interest.
A conditional bid of par and interest was also
received from
Seasongood & Mayer of Cincinnati.
Worcester, Worcester County, Mass.—Bond Sale.—It is
stated that on Dec. 7 $100,000
4% 20-year grade-crossing
bonds were awarded to E. S.
Moseley & Co. at 107.21. Date
Oct. 1 1910.
Wymore, Gage County, Neb.—Bonds Voted.—The elec¬
tion hdld Dec. 1 (V. 91, p.
1471) resulted, it is said, in favor
of propositions to issue
municipal water and light plant
bonds.
Youngstown, Ohio.—Bond
received until 2 p. m. Dec. 12
Offerings.—Proposals will be
by Wm. I. Davies, City Audi¬
tor, for the following 5% bonds:
$2,000 crematory bonds, due $1,000
and 1912.
on Oct.
1 In each of the years 1911
3,000 garbage-disposal bonds, due $1,000 yearly
2,000
670
495
7,480
on Oct. 1 from 1911 to
1913 inclusive.
sidewalk and intersection bonds, due $1,000 on Oct. 1 In each of
the years 1911 and 1912.
Pyatt Street opening and Improving bonds, due Oct. 1 1911.
Lansing Avenue sewer bonds, due $99 yearly on Oct. 1 from 1912
to 1916 Inclusive.
Woodland Avenue paving bonds, due $1,496 yearly on Oct. 1 from
1912 to 1916 inclusive.
Street grading bonds, due $300 yearly
to 1916 Inclusive.
2,245 Quarry Street
sewer
to 1916 inclusive.
bonds, due $449 yearly
on
on
116,,8500ssttrree t--iimmpprroovveemm nntt
11,50pa9rk07.Maturiy
CHRONICLE
Oct. 1 from 1912
Oct. 1 from 1912
1,720 Wick Avenue cleaning bonds, due Oct. 1 1912.
Date Dec. 19 1910.
Interest semi-annually at the City Treasurer’s
office.
Certified check on a national bank for 2% of amount of each block
Md on, payable tb the City Auditor, is
required. Bach block of bonds
Must be bid on separately.
Purchaser must be prepared to take the bonds
mat later than Dec. 19, the money to be delivered
to one of the city banks
ar the City Treasurer's office.
This city is now prepared to Issue registered
bands In exchange for coupon bonds.
In addition to the above, proposals will also be received
until
2p.m. Dec. 12 by the Sinking Fund Trustees, Wm. I.
Davies, Secretary, for the following 5% bonds, the same
being old ifesues
as
investments:
VOL
Which have been held
LXXXX1.
by the Sinking Fund
$15,600 watef-works-extenslon bonds. Denomination
$1,000. Date Deb
29 1908.
Maturity $2,o6o yearly on Oct. 1 from 1920 to 1925 in¬
clusive and $3,000 on Oct. 1 1926.
(city’s portion) bonds.
Denominations $1,009
Date April 1 1910. Maturity $500 on Oct. 1 1911 and
$4,000 yearly bn Oct. 1 from 1912 to 1915 inclusive.
2.200 street-improvement (city’s portion) bonds.
Denominations $1,00#
and $100.
Date Aug. 16 1909.
Maturity Oct. 1 1911.
(city’s portion) bonds.
Denominations $$0#
and $400.
Date Feb. 1 1907. Maturity $900 on Oct. 1 in
each
of the years 1911 and 1912.
1,115 strfeet-ltnprovement (city’s portion) bohds.
Denominations $1,00#
and $115.
Date March 1 1907.
Maturity $1,000 on Oct. 1 1911
and $115 on Oct. 1 1912.
8,000 fiTb-eriglne bohds.
'Denomination $1,000.
Date April 1 190#.
Maturity $2,000 yearly on Oct. 1 from 1911 to 1915 Inclusive.
2.500 flfe-englrie bdnds.
Deriomldatlons $1,000 and $500.
Date May $
$1,000 on Oct. 1 1911 and $1,500 on Oct. 1 191 Zi
1.800 fire-engine bonds.
Denominations $1,000 and $800.
Date Oct. 1
1906.
Maturity $1,000 on Ofct. 1 1911 arid $800 dri Oct. 1 1912.
2,000 West Boardman St. widening bonds.
Denomination $500.
Date
July 20 1909. Maturity $1,000 on Oct. 1 in each of the
years
1911 arid 1912.
1.500 Fire Statioh No. 8 completion bonds.
Denomination $500.
Date
Aug. 16 1909. Maturity Oct. 1 1911.
500 Falls Ave. Improvement bonds.
Denomination $500.
Date May f
1907.
Maturity Oct. 1 1911.
1,000 prirk bonds.
Denomination $1,000.
Date April 9 1906.
Ma¬
turity Obt. 1 1911.
2,000 park bonds.
Denomination $1,000.
Date Feb. 29 1908.
Ma¬
turity $1,000 on Oct: 1 in each of the years 1911 and 1912.
3,000 park bonds.
Denomination $1,000.
Date April 6 1908.
Ma¬
turity $1,000 on Oct. 1 in each of the years 1911, 1912 and
191$.
1,000 park bonds.
Denomination $1,000.
Maturity Oct. 1 1911.
bond.
Denomination $1,500.
Date Aug. 1*1910.
Maturity
Oet. 1 1912.
200 Ridge Ave.
Improvement bond. Denomination $200. Date
July 29 1909. Maturity Oct. 1 1911.
2,000 street-improvement bonds.
Denomination $1,000.
Date Feb. 2#
1908. Maturity $1,000 on Oct. 1 In each of the years 1911
and 1912.
#,000 garbage-disposal bonds.
Denomination $1,000.
Date Aug. 1#
1909.
Maturity $1,000 yearly on Oct. 1 from 1911 to 1916 In¬
and $500.
,
clusive.
150 School St. widening bonds.
Denomination $150.
Date Aug. 1#
1909.
Maturity Oct. 1 1911.
2.800 South Watt and Fox streets widening bonds.
Denominations
$1,000 and $800.
Date Dec. 15 1906.
Maturity $1,000 on Oct. 1
1911 and $1,800 on Oct. 1 1912.
8,375 Evergreen Ave. paving bonds.
Denominations 81,000 and $678.
Date April 27 1910.
Maturity 81,675 yearly on Oet. 1 from 1911
to 1915 Inclusive.
9.200 St. Louis and Oak Hill Ave. paving bonds.
Denominations $1,00#
and $840.
Date April 27 1910.
Maturity $1,840 yearly on Oct. 1
from 1912 to 1916 Inclusive.
Coupons have been clipped to and Including Oct. 1 1910. Interest semi¬
annually at the office of the City Treasurer.
Certified check on a national
HEW LOAHS
NEW LOANS.
$
170,000
CITY OF MONROVIA, CAL.,
$J,000,000
WATER AND SEWER BONDS
The
Sanitary District of Chicago
FOUR PER CENT BONDS
Being the Twenty-Seventh Issue Thereof
Sealed
proposals, addressed to the Board of Trustees of The
Sanitary Dirstict of Chicago, and
Indorsed, ‘ Proposals for Purchasing Bonds,” will be received by the Clerk of said
The Sanitary District
of Chicago, at Room 1,500. American Trust
Building, Chicago, Illinois, until one (1) P. M. (standard
time) on THURSDAY. DECEMBER 22. 1910.
The bonds for the purchase of which said bids will he
received are the twenty-seventh and present
isgue of one million 91.000.000 00) dollars worth of
bonds of said The Sanitary District of Chicago, in
the denomination of one thousand ($1,000) dollars
each, all to bear date the first day of January. 1911,
with Interest at the rate of four (4%) per cent
per annum, payable semi-annually on the flrtt day of
July and the first day of January of each year until said bonds are paid.
Forty-six thousand ($46,000)
dollars of the principal of said one million ($1,000,000) dollars worth
of bonds hereby offered for sale
are to be payable on the first day of
January, 1913, and fifty-three thousand dollars of the principal of
said bonds hereby offered for sale are to be payable on the first
day of January of each succeeding year,
up to arid including the year 1931. both principal and interest to be
payable at the office of the Treasurer
•f said The Sanitary District of
Chicago.
Proposals will be received for one million (♦1,600,000) dollars worth of said
bonds, or any portion
thereof.
Each proposal must be accompanied by certified check or cash
In amount equal to five (5%) per
oent of the amourit of the bid
All certified checks must be drawn on some
responsible Chicago bank
and must be made payable to the Order of the ‘‘Clerk of The
Sanitary District of Chicago. ’ Said
amount of five (5%) per oent of the amount of the bid will be
held by said The Sanitary District of
Chicago until a,ll of said proposals have been canvassed and the bonds have been awarded.
The right Is reserved to reject any and all bids.
The said bonds to be prifd for and delivered at the office of
the Treasurer of said The Sanitary
District of Chicago.
For further information, apply to the President or Clerk of said
The Sanitary District of
Room 1,500, American Trust Building,
Illinois
Chicago,
Proposals will be received by the under¬
signed until 5 o’clock p. m. of FRIDAY, DE¬
CEMBER 16, 1910, for the purchase of tna
following bonds of the City of Monrovia, Cali¬
fornia. In the sum of One Hundred and Seventy
Thousand ($170,000) Dollars, the said bonds
being described as follows, to-wlt:
FIRST: $50,000 Water Department Bonds
of the denomination of $625 each, dated Jan.
1,
1911. and two of said bonds shall be payable
each year beginning Jan. 1 1912,
SECOND:
$120,000 Sewer
Bonds
of
the
denomination of $500 each, dated Jan. 1 1911,
and six of said bonds shall be payable each
year beginning Jan. 1 1912.
All of said bonds shall bear 5% Interest (Jan. 1
and July 1), aud the principal and Interest shall
be payable at the office of the City Treasurer.
Said bonds are to be Issued in accordance
with
an
Act of the Legislature entitled ‘‘Ah Act
authorizing the Incurring of indebtedness by
cities, towns and municipal corporations for
municipal improvements and regulating the
acquisition, construction or completion thereof’,
becoming a law February 25, 1901, and any
amendments thereto, and In accordance with th9
?:eneral
Incorporation
the and
Statetheofordin¬
Call*
ornla for
cities of theActs
sixthofclass
ances of
said city.
No proposals for said bonds will be entertained
for less than face value and accured interest te
date of delivery of said bonds.
Each proposal must be accompanied
by a
certified check drawn upon some
responsible
bank of the State of California and payable
to the
City Treasurer of the City of Monrovia for ths
sum Of Ten Thousand ($10,000)
Dollars as a
guaranty that the bidder will purchase and pay
for said bonds in accordance with his bid in the
event such bid Is accepted.
The Board of Trustees reserves the
right ta
reject any and all bids and to waive any formality
In any bid as the interests of said
City may require.
By order of the Board of Trustees of the City 0#
Monrovia, made at its meeting November 21,1918.
C. H. REED, JR.,
City Clerk of the City of Monrovia.
Dated November 21, 1910.
Chicago,
THE SANITARY DISTRICT OF CHICAGO,
Reynolds, Watson & Co.
By THOMAS A. SMYTH,
I. J. BRYAN,
Clerk.
President.
Muicipal aid Corporate Buis
We offer
MUNICIPAL BONDS
Safest lavssUMnta
knew*.
YMdtnc from
AQL fa ftQL
ULEN
BANKERS
'J/O
&
Wilts for
Circular.
CO.
CHICAGO
a
very
exceptional
ESTABLISHED 1888
DRAINAGE BOND
H. C. SPEER & SONS CO.
NETTING
First Nat. Bank BMf,
Chlaaga
6%
SCHOOL,
COUNTY AND
MUNICIPAL BONDS 400 Ths
Rookery
CHICAGO
dec.
bunk
for
payableto the Stoking IFundTru^tees
separately, purchaser
each
separately.
Fffrchaser
Dec. 1# 1*10, the irioney to
at the City Treasurer’s
advertlsenfent states that this city Is now prepared
2% of each Issue bid for.
It required.
Bids toust
iriust be made upon
uf>on e*ch issue
Issue
to be prepared to take the bonds not later than
be delivered at one of the banks to Youngstown Or
office.
The Official
to issue registered bonds to
exchange for coupon
bonds.
Ganada, Its Provinces and Muiltclpaltties.
Belgrave School District No. S&87, Sask.—Debenture
Offering.—Proposals will bo received until Dec. 20 by Ernest
C. Jennings (F. O. Melfort) for $1,000 6% debentures re¬
payable in ten annnal installments.
Biggar, Sask.—Debentures Not Sold.—JJp to Nov. 29 no
sale had yet been made of ah issue of $15,000 6% water¬
works and fire-protection debentures, proposals for which
asked until Nov. 1.
Maturity part yearly for 15 years.
Bridge burg, Ont.—Debenture Sale.—This town sold
$30,{Kft) 5% sewer debentures during November to W. A.
Mackenzie & Co. of Toronto.
The debentures are dated
Nov. 1 1910 and mature part yearly for 30 years.
These
securities take the place of the $20,000 debentures awarded
on Sept 28 (V. 91, p. 902), the sale of which was subsequently
were
.
canceled.
Caradoc Township (P. O. Strathroy), Ont.—Debenture
S*le.—On Nov. 5 the $2,000 4}^% school-building deben¬
tures, offered on Nov. 1 (V. 91, p. 1117), were awarded to
Win. Grigg at 100.60.
A bid was also received from Wm.
Blair at par.
Maturity part yearly for 10 years.
Interest annual.
Date Nov. 5 1910.
1591
THE CHRONICLE
101910.]
Offering— Proposals will be
it is stated, for $47,000 5% 10-year
Chatham, Ont.—Debenture
received at any time,
drainage debentures. Wm. Abraham is Reeve.
Elmira, Ont.—Price Paid for Debentures.—The price paid
f#r the $2,000 sidewalk and $2,500 bridge 5% 20-year deben¬
tures awarded in October to Geo. A. Stimson & Co. of
Toronto (V. 91, p. 1202) was $4,500 25, or 100.005. Date
Oct. 1 1910.
Fort William, Ont.—Debenture
tkat at the January election the
Election.—Reports state
rate-payers will vote on
by-laws to issue the following debentures: $12,000 park,
$46,000 market-site, $100,000 street railway, $50,000 light
and
telephone, $60,000 water, $8,000 Board
and
$20,000 swimming-pool debentures.
Gosfield North Township, 6nt.—Debenture Sale.—This
township disposed of $3,481 5% drainage debentures during
November to G. A. Stimson & Co. of Toronto.
Maturity
part yearly for 10 years.
Grandview, Man.—Debenture Sale.—The $5,000 5% de¬
bentures offered on Dec. 1 (V. 91, p. 1403) were awarded to
W. A, McKenzie & Co. of Toronto at 95.18 and accrued inter¬
est.
Other bids received
•
were as
follows:
*$4,0781 Ontario Securities Co., Tor.-*$4,507
*4,484
4,650|Nay & James Regina
C. H. Burgess & Co., Tor
National Finance Co
And accrued Interest.
Maturity part yearly for 20 years.
Hamilton, Ont.—Debenture Election.—In addition to the
by-law to issue $125,000 street-paving debentures to be voted
upon at the January election (V. 91, p. 1532), the question
of issuing $35,000 debentures for a new general hospital site
will also be decided by the rate-payers.
Ingleside School District, Sask.—Debenture Sale.—A*
issue of $1,700 6% school debentures was disposed of last
month to W. A. Mackenzie & Co. of Toronto.
Maturity
part yearly for 10 years.
Irvine, Alberta.—Debenture Offering.—Further details are
at hand relative to the offering on Dec. 15 of the $5,000 6%
coupon fire-protection debentures mentioned in V. 91, jo.
1472.
Proposals for these, debentures will be received until
12 m. on that day by J. F. O. Barschel, Secretary-Treasurer.
Interest annually to October at the Union Bank of Canada.
Maturity
part yearly on Oct. 1.
The debentures are tax-exempt. Total debt *t
present, $900. Assessed valuation for 1910, $189,700.
Keppel Township, Ont.—Debenture Sale.—G. A. Stimson
were the successful bidders last month for
$2,500 5% school debentures, re-payable in 15 installment's.
Listowel, Ont.—Debenture Election .—An election will bfc
held Jan. 2 1911, it is stated, to vote on the question of issuing
$5,000 ±lA% electric-light debentures.
London, Ont.—Debenture Election.—Reports state that
by-laws to issue $100,000 debentures to purchase the London
& Co. of Toronto
NEW LOANS
NEW LOANS.
NEW LOANS
of Work? land,
$100,000 abattoir, $25,000 quarry, $10,000 publicity
$40,000
Borough of Turtle Creek, Pa., TOWN OF WESTFIELD, R.J. TOWN OF WESTFIELD, N. J.
$30,000
$16,006
STREET IMPROVEMENT BONDS
NORTH MAIN SEWER BONDS
Turtle
Creek,
Allegheny County,
Pa.,
Dec. 5 1910.
Bids will be received by the undersigned at the
Cotmdl Chamber of the Borough of Turtle Creek
until 12 o’clock m
DECEMBER 19 1910, for
.
the purchase of thirty
(30) street Improvement
••upon bonds erf $1,000 00 each, dated November
1st 1910, interest 4 H per cent per annum, payable
Free
s«inl-annually.
from
State
tax.
Bonds
Mature as follows:
Bond No.
1 on November
Bond No.
Bond No.
Bond No.
Bond
Bond
Bond
Bond
Bond
Bond
Bond
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
2
3
4
on
on
on
1st 1915
November 1st 1916
November 1st 1917
November 1st 1918
5 on November 1st
6 on November 1st
7 on November 1st
8 on November 1st
8 on November 1st
10 on November 1st
11 on November 1st
12 on November 1st
13 on November 1st
14 on November 1st
15 on November 1st
16 on November 1st
17 oh November 1st
18 on November 1st
19 on November 1st
20 on November 1st
21 on November 1st
1919
1920
NOTICE IS HEREBY GIVEN that the Council
of the Town of Westfield to the County of Union,
New Jersey, will receive, at the Council room,
121 Prospect Street. Westfield, Union County,
New Jersey, on TUESDAY EVENING, JANU¬
ARY 3D 1911, at 8:15 o’clock, sealed bids for an
Issue of bonds authorized under General Ordinance
No. 13 8. entitled “An ordinance to provide for
an Issue of bonds to raise the cost and expense of
constructing the North Main Sewer,” passed and
adopted December 5th 1910. The total Issue
amounts to $16,000, there being sixteen bonds
of the denomination of $1,000 each.
Interest
coupons attached, Interest payable half-yearly,
option of registering. Bonds dated January 3d
1911, payable January 3d 1921, Interest at 4H%
per annum, payable on January 3d and July 3d
1921
1922
1923
in each year.
1924
are
J926
Clerk.
The Council reserves the right to reject any or
all bids.
LLOYD THOMPSON. Town Clerk.
Bond
1926
Bond
1927
Bond
1928
Bond
1929
Bond
1930
Bond
1931
Bond
1932
Bond No.
1933
Bond No.
1934
Bond No.
1935
Bond No. 22 on November 1st 1936
Bonds Nos. 23 and 24 on November 1st 1937
Bonds Nos. 25 and 26 on November 1st 1938
Bonds Nos. 27 and 28 on November 1st 1939
Bonds Nos. 29 and 3Q on November 1st 1940
A certified check bn a national
bank for
$1,000 00 required with each bid.
JAMES STRANG,
Chairman of Finance Committee,
Borough of Turtle Creek.
Turtle Creek, Pa.
IMENPYL, WALBMNE & 68.
Copies of the ordinance under which said bonds
issued may be had on application to the Town
Westfield, N. J., December 6th 1910.
$25,000
TOWN OF KEARNY, HUDSON CO., N. J.,
Play-Ground Bonds
Sealed proposals will be received by the CouncU of the Town of Kearny, Hudson County,
N. J., at the Town Hall, DECEMBER 14TH,
1910, AT 8 P. M., for the purchase of
$26,000 00 4)4% 20-Year Play Qround Bonds.
Each old must be accompanied by a certified
check for $1,000 00.
The Council reserves the
right to reject any or all bids.
For further Information, address
BURTON E. CANFIELD, Town Treasurer.
TOWN OF KIRKWOOD, GA,
ize the
'Town of Westfield to issue Its corporate
bonds for the purpose of paying off certain Im¬
provement certificates ana extending the time
when the several amounts thereof shall be dis¬
charged,” passed aird adopted December $th 1910.
Issue amounts to $40,000, there being
forty bonds Of the denomination Of $l,0i)0 each.
Interest coupons attached, lnterrat payable halfBonds dated Janu¬
yearly. option of registering.
ary 3d 1911, payable $4,000 on JatOiary 3d 1912,
$4,000 each year thereafter
Interest at 5% per
The total
annum, payable on
each year.
January 3d and July 3d of
Copies of the ordinance under which said bonds
are issued may be had on appllcatibn to the Town
December 6th 1910.
Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL BONDS
rnsr national bank building
CHICAGO
F. WM. KRAFT
Municipal and Corporation Bonds
WATER AND SEWER BONDS
Chloaga
issue of bonds authorized under General Ordi¬
No. 117, entitled “An ordinance to author¬
nance
Specializing in Examination of
SECURITIES
La Sail# Straat,
an
LAWYER
$60,000
181
NOTICE IS HEREBY GIVEN that the Council
of the Town of Westfield, to the Couhty of Unldn,
New Jersey, will receive, at the Council room,
121 Prospect Street, Westfield, Union County,
New Jersey, on TUESDAY EVENING, JANU¬
ARY 3D, 1911, at 8:15 o'clock, sealed bids for
Westfield, N. J.,
Railroad, Street RyOaa & EUe. Light
Municipal and
Corporation Borda
BONDS
Clerk.
The Council reserves the right to reject anyfor
all bids.
LLOYD THOMPSON, Town Clerk.
7 Wall St., Naw York
McCOY & COMPANY
SEWER, SIDEWALK AND ROAD
Sealed proposals will be received by
of Kirkwood, Ga., up to 8 p. m. DEC.
the Town
20TH for
$60,000 00 Town of Kirkwood 5% semi-annual
and
Bonds,
interest, Water
Sewer
maturing
Bids should be addressed to the under¬
serially.
signed and should state on the envelope that they
are bids for bonds.
Each bid must be accom¬
panied by certified check for $1,000 00.
The
For
right Is reserved to reject any and all bids.
further Information apply to E. M.
Willingham,
Mayor, 540-542 Whitehall St., Atlanta,
Ga.
1111 FIRST NATUWAL BANK HI 00..
CHICAGO,ILL.
FORREST A GO.
BANkENS
411 CtaMtoat St.. PHILADELPHIA, PA.
Municipal and
Corporation Bonds
1592
THE CHRONICLE
Electric Co. and $50,000 for
in the near future.
bridge
purposes
en
will be voted
Mackintosh School District, Man.—Debenture Sale.—G. A.
Stimson & Co. of Toronto purchased $1,000 6% school deben¬
tures during
for 10 years.
the month of November.
Maturity part yearly
Marmora, Ont.—Debentures Voted.—Debenture Offering.—
We are advised that the election held Nov. 28 (V. 91, p. 1472)
resulted in a vote of 114 “for” to 14 “against” a proposition
to issue $4,000 5% electric-light-plant-purchase debentures.
Interest annual. Maturity part yearly for twenty years.
Proposals for these debentures will be received until Dec. 15.
New Hamburg, Ont.—Debenture Sale.—An issue of $10,000
5% debentures was sold during the month of November to
G. A. Stimson & Co. of Toronto.
Maturity part yearly for
30 years.
North Vancouver,
B. C.—Debenture Sale.—Brouse, Mitch¬
ell, & Co., of Toronto, are reported as having purchased
$30,000 5% 50-year water-works debentures.
Debenture Election.—According to reports, an election will
be held to vote on propositions to issue $3,000 debentures for
the “purchase of lanes” and $12,000 for the purchase of Rice
Lake.
Oak Bay, B. C.—Debenture Sale.—During the month of
November the Dominion Securities Corporation, Ltd.,
of
Toronto, purchased $60,000 5% 30-year water-works deben¬
tures.
Reston
School
District, Man.—Debenture
school-improvement debentures
Sale.—The
offered on
Nov. 15 and described in V. 91, p. 1347, were awarded to
$2,500
5%
Brent, Noxon & Co. of Toronto.
Maturity part yearly for
20 years.
Rochester Township, Essex County, Ont.—Debenture Sale.
—We are advised that $1,045 5% debentures were sold
during November to G. A. Stimson & Co. of Toronto. Ma¬
turity part yearly for 10 years.
St. Hyacinths, Que.—Debentures Not Sold.—We are ad¬
vised, under date of Dec. 2, that no sale has yet been made
of the $60,000 4J^% water-works and
electric-light deben¬
tures offered (V. 91, p. 827) on Sept.
30.
NEW LOANS
fVOL.
LXXXX1
St.
Mary’s, Ont.—Debenture Offering.—Proposals will be
Clark, Clerk, for
“about” $12,000 5% local-improvement debentures.
St. Stephens, N. B.—Bids Rejected.—All bids received
on
Nov. 30 for the $25,000 36-year water and the
$15,700
30-year “New Consolidated Debt” 4% debentures described
in V. 91, p. 1283, were
rejected.
Smith Falls, Ont.—Debenture Election.—An election will
be
held, reports state, to vote on the question of issuing $10,000
water-works-improvement and $30,000 local-improvement
received until 6 p. m. Dec. 14 by T. M.
debentures.
Swanson School District No. 2590 (P. O.
Walpole), Sask.
—Debenture Sale.—We have just been advised that
$1,200
6% school-building debentures due 1920 were sold on
Sept. 2 to the Ontario Securities Co., Ltd., of Toronto, at
Interest annually in December.
par.
United Townships of Drury, Denison and
Graham, Ont.—
Debenture Sale.—During the month of
November, C. H. Bur¬
gess & Co. of Toronto purchased $850 6%
debentures, due
part yearly for 3 years.
Victoria, B. C.—Debenture Sale.—We are advised that
$650,000 4% debentures were disposed of in November to
G. A. Stimson & Co. of Toronto.
The sale of $500,000 of
these debentures was
reported in V. 91, p. 1472.
Debenture Election.—It is stated that an election will
be
held to vote on the question of
issuing $50,000 fire-depart¬
ment and $15,000
local-improvement debentures.
Waldron, Sask.—Debenture Offering.—Proposals will be
including Dec. 10 by W. J. Johnston,
Secretary-Treasurer, for $3,000 6% local-improvement de¬
bentures, repayable in 15 annual installmnets.
Watrous, Sask.—Debenture Sale.—An issue of $10,000
debentures was disposed of last month to C. H.
Burgess
& Co. of Toronto.
Maturity part yearly for 20 years.
Wingham, Ont.—Debenture Offering.—Proposals will be
received, according to reports, until Dec. 16 for $6,000 4J^%
received up to and
20-year debentures.
York
Township,
Ont.—Debentures Authorized.—It is
by-law providing for the issuance of $25,006
school debentures has been passed.
stated that
a
NEW LOANS.
MISCELLANEOUS.
$7 0,000
825,000
KANSAS CITY, MISSOURI, Town of Conrad, Montana, Adrian H. Muller & Son,
BONDS
Sealed proposals wl
be received by the under¬
signed, the Mayor and the City Comptroller of
Kansas City. Missouri, until DECEMBER 15 1910
at 10 o’clock A.M., for the purchase of all or any
part of the following-named bonds of the City of
Kansas City, Missouri, in the following-named
amounts:
CLASS • A”
Water Works Bonds. Seeoud Issue.-$500,000 00
CLASS
Fire Protection Bonds, Second Issue.. $50,000 00
Incinerating Plant Bonds
100,000 00
Kansas City Bridge Bonds
100,000 00
$250,000 00
Class “A” bonds boar Interest at the rate of
four per cent per annum.
Class “B” bonds bear
Interest at the rate of four and one-half per cent
per annum.
All of these bonds are of the de¬
nomination of $1,000 00 each, dated September 1st
1010, to mature September 1st 1930.
Interest
payable at the office of the City Treasurer of
Kansas City, Missouri, or at the Chase National
Bank in the City and State of New York, at the
option of the holder.
No bid will be received which Is In whole or In
part less than par.
The legality of the heads will be approved
by
Messrs. Dillon, Thomson & Clay of New York,
whose opinion as to the legality, or duplicate
thereof, will be delivered to the purchaser or
purchasers of said bonds.
Each bid must be made on a blank form fur¬
nished by the City and must be accompanied by
a duly certified check on a National Bank
doing
business In Kansas City, Missouri, payable to the
order of the City Comptroller of Kansas City.
Missouri, for 2 per cent of the par value of the
bonds bid for.
The right Is reserved to reject
,
any and all bids.
5> Delivery of the bonds will be made on Tuesday,
January 3rd 1911, at 10 o’clock A. M., at the
office of the City Comptroller of Kansas City, In
Kansas City, Missouri.
Bids will be received at
the office of the Mayor of Kansas City, Missouri;
In the City Hall In said City; but no bid will be
entitled to consideration unless received by or
before the hour above set for receiving bids.
Printed circulars containing more definite and
detailed Information with reference to said bonds,
and blank forms for bids, can be had on applica¬
tion to the City Comptroller of Kansas City,
Missouri, or to Messrs. Dillon. Thomson & Clay
of New York.
I V? «
DARIUS A. BROWN,
to*'
Mayor of Kansas City, Missouri.
i”i
T?
~ (V
***
GU3 PEARSON.
Comptroller of Kansas City. Missouri.
AUCTIONEERS.
SEWER BONDS
Regular Weekly Sales
Notice Is hereby given by the Town Council
of the town of Conrad, In the State of Montana,
that the sewer bonds of said town In the sum of
$25,000 00, bearing Interest at six (6) per cent
per annum, interest payable semi-annually on
the first of January and first of July In each
year, will be offered for sale at public auction
to the bidder offering the
highest price therefor,
at the Council Chamber of the Town Council of
the town of Conrad, In the town of Conrad,
County of Teton and State of Montana, on the
28TH DAY OF DECEMBER. A. D. 1910, at the
hour of 2 o’clock p. m. of that day.
The Council reserves the right to reject all or
any bids or offers of purchase.
The principal of said bonds to be
payable In
twenty years from the date thereof, and $3,000 00
thereof redeemable In five years, $5,000 00 re¬
deemable In ten years and $5,000 00 redeemable
In fifteen years from the date thereof at the
option of the Town Council.
All tenders, bids
or offers to purchase to be addressed to F.
H.
Pings, Mayor, and a certified check for not less
than $300 00 to accompany each bid to Insure
good faith on behalf of the bidder.
Dated at Conrad, Montana, this 19th day of
November, 1910.
By order of the Town Council.
BLODGET & CO.
OF
STOCKS and BONDS
EVERY WEDNESDAY
Office. No. 65 WILLIAM STREET;
Corner Hue Street-
OTTO JULIUS MERKEL
BROKER
STREET, NEW YORK
INVESTMENT SECURITIES
Correspondence Invited
44 AND 46 WALL
EDWIN R. CASE
NEW
JERSEY
No better SeeuMtlea
IS EXCHANGE
1al«. 896 and 761
PLACE
1ERSEY CITY
Bank and Trust
BONDS
NEW YORK
€0 STATM STMXET, BOSTON
90 PINE STREET, NMW TOMB.
STATE, CITY & RAILROAD BOND*
SECURITIES
No better State
Company Stocks
AND BROOKLYN
BOUGHT AND SOLD
CLINTON
GILBERT
S WALL ST.
NEW
YORK
Ready About January I5y 1911
Range of Prices for Stocks and Bonds
FROM
1907 to
January 1, 1911
Earnings, Fixed Charges and Dividends for Series of Years
Hand Book of Securities
MUNICIPAL AND RAILROAD
BONDS
Price of Single Copies
.
.
.
To Subscribers of the Chronicle
$1 00
75
LIST ON APPLICATION
SEAS0NG000 & MAYER
Mercantile Library Building
OUTOOTATI
Commercial Ac Financial Chronicle
Pine and Depeystor Streets,
.
KFW YORK.
XVU
THE CHRONICLE
Dm. >• i»».
gtoxuctal.
gittxwctxl.
OFFICE OF THE
NATIONAL LIGHT,
HEAT &. POWER
GUARANTEED
BONDS
COMPANY
ATLANTIC MUTUAL INSURANCE COMPANY.
New York, January 21st, Hit
The Trustee*, in conformity with the Charter of the Company,
on the SIst of December,
A|| ,
Premiums
Premiums
A. H. Bickmore & Co.,
Total Marine Premiums
'
...
Naw York
Interest received during the year
Rent less Taxes and Expenses....
Losses paid during the year which were
Telephone 2S17 Rost*
■•thlMlaked 1M4
and previous years
Losses occurred, estimated and
INSURANCE STOCKS
Homo,
Niagara, Continental, &o.
BOUGHT AND SOLD
C. B. Van Nostrand
II WALL STREET
Estimated Losses and Losses Un¬
Real Estate cor. Wall & WllltamSts.,
& Exchange Place.34,299,426 04
Other Real Estate &
claims due the com¬
pany
75,000 00 4.374,426
CORDAGE
New York
OLARENCEH. KELSEY, Pies. Title Gu.4Tr.Oo
Wit. H. PORTER, Pres. Chemical Natlenal Bank
■D. TOWNSEND. Pres. Imp. A Traders Nat. Bk
Oood men, whether experienced In die
m not, may make direct contracts with
insurance
this Oons
paly, for a limited territory if desired, and soemr*
tor themselves, in addition to ftrst year's sommls
Oon,
a renewal interest insuring an la come far th*
Address the Company at its Home Otflof
tatnre.
No. 177 Broadway. New York City
Accountants.
LYBRAND,
ROSS BROS &
MONTGOMERY
Certified Public Accountants
(Pennsylvania)
YORK,
165 Broadway
PHILADELPHIA,
Land Title Bldg
PITTSBURGH,
Union Bank Bldg
CHICAGO, First National Bank Bldg
JAMES PARK & CO
CERTIFIED
PUBLIC ACCOUNTANTS
New York,
Chicago, Cincinnati and
London, England.
AUDITORS
FOR
FINANCIAL
INSTITU
TIONS, INDUSTRIAL AND
MINING COMPANIES
Investigations, Financial Statements,
Periodical Audlts.and Accounting.
for
Profits
120.569 42
Re¬
Unpaid
22.353 49
Outstand¬
ing
7,404,890 00
370,000 09
-
Real Estate Reserve Fund
239,948 04
633,405 13
Aggregating
-
311,260,125 76
profits will be paid to the
of February next.
outstanding certificates of the issue of 1904 will be redeemed and paid to the holders thereof
or their legal representatives, on and after Tuesday the
first of February next, from which date att
interest thereon will cease.
The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent Is declared on the net earned premiums of the Company for the year
ending 31st December, 1909. which are entitled to participate In dividend, for which, upon appli¬
cation. certificates will be issued on and after Tuesday the third of May next
By order of the Board,
G. STANTON FLOYD-JONES. Secretary.
FRANCIS M. BACON,
WALDRON P. BROWN.
VERNON H. BROWN,
JOHN N, BEACH,
JOHN CLAFLIN,
GEORGE C. CLARK,
CLEVELAND H. DODGE.
CORNELIUS ELDERT.
RICHARD H. EWART.
PHILIP A. S. FRANKLIN,
HERBERT L. GRIGGS.
IN THE CITY OF NEW YORK
Issues Guaranteed Contracts
Finance Committee
263.468 95
The
The United States Life
Insurance Co.
JOHN P. MTJNN, M. D„ President.
1,213,069 68
Withheld
Premiums
Certificates of
A dividend of Interest of Six per cent on the outstanding certificates of
holders thereof, or their legal representatives, on and after Tuesday the first
mo
ISM
deemed,
04
685.546 9#
Unpaid
Return Premiums Unpaid
Certificates of Profits Ordered
312.921,890 89
Aggregating
32.393,267
settled
Premiums on Unterminated Risks.
Certificates of Profits and Interest
-
35,461,042 00
Special deposits in Banks ATrustCos. 1,000,000 00
Bankers to pay losses under poli¬
cies payable In foreign countries.
MANILA. SISAL AND JUTE
3356,913 94
LIABILITIES.
ASSETS.
United States & State of New York
Gash In Bank
THE AMERICAN MFG. CO.
360,285 14
stationery,
advertisements, etc
Premium notes and Bills Receivable
Cash In the hands of European
INDUSTRIALS
485,411 65
235,520 48
31,493,426 20
curities
NEW
3249,891 07
.
Stock, City, Bank and other Se¬
65 Wall Street
- $829,378 19
1909..............1,149,459 56 31,973.837 76
-
paid In
Returns of Premiums
newspapers,
NEW TOR*
3467,720 IS
estimated in 1908
Expenses. Including officers’ salaries and clerks’ compensation,
E. S. BAILEY
66 BROADWAY
3322,040 46
145,679 82
Less Salvages
Re-insurances
Fidelity, Phoenix,
.......#3,791,667 06
December, 1909....
....................
S3,759,391 26
717,712 70
...34,477,103 OS
......—--—......-—
Premiums marked off from 1st January, 1909, to 31st
BANKERS
30 Pina Straat.
on
on
submit me following statement of its affairs
1909.
Marine Risks from 1st January, 1909, to list December, 1909—.—
Policies not marked oil 1st January, 19C9
TRUSTEES.
- ~
*
"
DALLAS B PRATT,
CLEMENT A. GRISCOM,
GEORGE W. QUINTARD,
ANSON W. HARD.
A. A. RAVEN.
LEWIS CASS LEDYARD,
JOHN J. RIKER,
CHARLES D. LEVERICH,
DOUGLAS ROBINSON,
LEANDER N. LOVELL.
GUSTAV H. SCHWAB.
GEORGE H. MACY,
WILLIAM SLOANE.
CHARLES H. MARSHALL,
ISAAC STERN.
NICHOLAS F. PALMER,
WILLIAM A. STREET.
HENRY PARISH.
GEORGE E. TURNURH.
ADOLP PAVENSTEDT,
CHARLES M. PRATT.
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB, 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART. 4th Vice-PreoMonL
BANKERS TRUST COMPANY
7
WALL STREET, NEW YORK
Surplus and Profits, 36,295,000
Capital, 33,000,000
DIRECTORS
STEPHEN BAKER, President Bank ef the Manhattan
Co., N. Y.
SAMUEL Q. BAYNE, President Seaboard National
Bank, N. Y.
EDWIN M. BULKLEY, Spencer Trask & Co., Bank¬
ers, N. Y.
JAMES Q. CANNON, President Fourth National Bank,
N. Y.
EDMUND C. CONVERSE, President, New York.
HENRY P. DAVISON, J. P. Morgan & Co., Bankers,
N
Y.
WALTER*
E. FREW, Vice-President Corn
Bank, N. Y.
Exchange
FREDERICK T. HASKELL, Vico-President Illinois
Trust & Savings Bank, Chicago.
A. BARTON HEPBURN, President Chase National
Bank, N. Y.
THOMAS W. LAMONT, Vice-President First National
Bank, N. Y.
OATES W. M’GARRAH, President Mechanics and
Metals National Bank, N. Y.
EDOAR L. MARSTON, Blair A Co.. Bankers, N. Y.
GEORGE W. PERKINS, J. P. Morgan A Co., Bankers,
N. Y.
DANIEL E. POMEROY,
WILLIAM H. PORTER,
Bank, N. Y.
O. REID, Vice-President Liberty National
Bank, N. Y.
BENJ. STRONG JR., Vice-President. New York.
DANIEL
EDWARD
Bank,
QILBERT
Bank,
EDWARD
TOWNSEND, President I taper ter s' A Trad¬
Y.
ALBERT H. WIGGIN, Vice-President Chase National
Bank, N. Y.
SAMUEL WOOLVERTON, President
Bank, N. Y.
B. STRONG JR., Vice-President.
F. I. KENT, Vice-President.
W
F. SWINNEY, President First National
Kansas City.
G. THORNE, Vioe-President National Park
N. Y.
ers’ National Bank, N.
E. 0. CONVERSE,
H
Vico-President, Now York.
President Chemical Nations!
DONOVAN. Treasurer.
Gallatin National
President.
D. E. POMEROY, Vice-President.
F. N. B. CLOSE, Secretary.
H. F. WILSON JR., Asst. Sec’y.
FORTY ONE STATE LEGISLATURES
AND CONGRESS
ARE ABOUT TO CONVENE
For full
information as to our system of reporting on proposed
legislation relating to Transportation, Commerce,
Manufacturing, and similar subjects, address
or new
lOue Corporation Trust Co.
37 Wall Street,
New York
XTUI
THE CHRONICLE
JtVpJ., LXXI3.I
S*lUst
©ompattijes.
mu status met mm of lav Tort,
tyrtniim
Manhattan
Trust
U mnd 47 WALL STREET
UflTW*
.....
12,000,009.99
•URPLUS AND UNDIVIDED PROFITS
$13,733,303.21
HUA Company act* as Executor, Administrator. Guardian. Trustee.
Court Depositary and la
ms rteogniced trust capacities.
~
'
It nflpwi Interest at current rates on
deposits.
It
held}, manage* and Invests
ad Individluals
WUdJJkM M.
Company
money, securities and other property, real or personal, tor seta
too
EDWARD W. SHELDON, President
TOSg,^.-Pres.
AHERN
fOROESTER, Asst. Sec. HENRY*
CHARLES A.
TRUSTEES.
JOHN A. STEWART, Chairman or the 4W«.
Gustav H. Schwab.
Lewis Cass Led yard.
Frank Lyman,
Lyman J. Gate.
James StUlmar
psyne Whitney.
John
Edward W. Sheldon.
John J. Phelps.
Chaunoey Keep
W. Bayard Cuttlnc.
WUUam Rockefeller,
y*2Sj,.
ClafllaT
D. Setae.
Asst .See.
Temporary Offices
George L. Rives.
Arthur C. James.
WllMam
II.
113 BROADWAY
Kingsley.
William Stewart Ted.
Ogdee Mills.
Etsrton L. Wlnthrop
sp
WALL STREET
CORNER NASSAU
NEWARK, N. J.
Resources Over $29,000,000
Capital. Surplus tod Undivided Profits, Over I9.S09.000
Acts
Executor, Trustee, Admiqi*tr*tor *nd in All RAucUry CAPAciUes.
fftfcW (¥|tire chArg® of
«n4 Pergonal RaUUs. OuATAntees Titles el
mH Estate throughout New Jersey.
as
Qmm Pv&m w#
Piwfwwp#mrdlWf
***• 01 “Unlelp*! and public utility mcuiMm.
hb
«•*
SquO
UNITED STATES
MORTGAGE & TRUST
COMPANY
NEW YORK
CAPITAL.
$2,009,000.00
SURPLUS,
$4,999,090.00
**W**--nr-*rm*n
Invites Personal at}4
justness
Accounts. Acts as Trustee, Ex¬
ecutor t
Administrator, Guardfitd in M Fi&cim
Capacities.
Certifies Muni¬
cipal and Corporation Bonds.
ol NEW YORK
54
Wall
Street
and Surplus, $18,000,000
(of which $17,000,000 has been earned)
Artbadzpd
M
Cedar St.
B'way A Ttrd St.
Executor, Trustee, Administrator or
Receives Deposits, street to jfteck, and 4<W? Interest
Qfl
Acts as Transfer Agent, Registrar and Trustee under Mortgages.
ISStfa St. ft 9tb A vs.
to act as
w
Industrial Trust Company
Provldeicef K. I.
CAPITAL
SURPLUS
OFFICERS.
m
CHARTERED
SSjOM.9M
laejM
^H*.^Urt^^%Wm^^o?PNre^dent
1864
Otis Everett. Vies- President
Joshua M. Addem&n, Vice-President
Ward E. Smith, Treasurer
Ohss. H. IfudmOM’, asesrtMV
PMeitok B.
MAIN OFFICE: 80 BROADWAY.
Uptown
Office^
With 425^Fifth
Modern Safe
Avenue, corner 3$th Street,1
Deposit
Capital 91,<
Acta
BOARD OF
Vaults
Surplus (earned) $7,737,000
ALLOWS INTEREST ON
DEPOSITS.
as
Executor, Guardian, Trustee, Administrator and in all
Fiduciary Capacities
on behalf of Individuals,
Institutions or Corporations.
Samuel P. Colt
Olaey T. Inman
Richard A. Robertson
Joshua M. Addeman
James M. Scott
William H. Perry
Arthur L. Kelley
H. Martin Brown
George F. Baker
George M. Thornton
waottAtSm
DIRECTOR*.
Herbert N. Fernet
J. Milton Payne
Ebon N. IJttiaflald
Otis Everett"
G. Prescott Knight
Jease fi: Metoatf
John J. Watson Ji.
.
Sturgig
Pearce
T*
READY ABOUT JANUARY IS
Hand-Book of Securities
ohioaoo
January 1911 Edition.
Capital and Surplus
$13,600,000
Psys Interest
DESCRIPTION
INCOME
Price of
Single Cepies
PRICES
DIVIDENDS
.
.
HV
.
To Subscribers of the Chronicle
Time Deposits, Current and Reserve Accounts.
Deals in Investment Securities and
Foreign Exchange.
Transacts a General Trust Business.
19
on
CORRESPONDENCE
INVITED.
The Hand-Book to Issued to
Bankers, §nd
Broken with their cards lettered In
gilt on the
outride cover (in quantity) at
special rates.
Commercial & Financial
Chronicle
Front, Pine and Depeyster Sts.
DBO. 10
THE CfffiONICWE
1910.)
XIX
XttUjt ©ormpaitixs.
The NEW ENGLAND
OLD COLONY TRUST COMPANY
TRUST COMPANY
BOSTON, BASS.
BOSTON, MASS.
CAPITAL. $1,000,600
$12,500,000
Capital and Surplus
SURPLUS. $2,000,000
Safe Deposit Vaults
DIRECTORS.
Authorised to act as Executor, and to receive
and hold money or property (Atrusti Of OS deposit
Equity. Executors,
Cvom Courts of Law of
Administrators. Assignees. Guardlana Trustees.
T. JEFFERSON COOLIDGE JR., Chairman Executive Committee.
Corporations and Indlyl^uais.
.
Also acts as Trustee under Mortgages
Transfer Agent and Registrar gtstocka and
Interest allowed on Deposits
and as
Bonds.
Subject to Check.
OFFICERS
OAVID R. WHITNEY, President
OHARLES F. CHOATE. Vice-President
ALEXANDER COCHRANE. VlcerPresident
NATHANIEL THAYER. Vice-President
JAMES R. HOOPER, Actuary
HENRY iT MARK. Secretary
FRED. W. ALLEN, Asst. Seo. A Treas.
THOMAS E. EATON, Asst. Treas.
FRANCIS R. JEWETT. Trust Offloer
CHAS. E. NOTT, Mgr. Safe Dep. Vlts.
BOARD OF DIRECTORS
William Endloott, Chairman
James O. Freeman
Walter C. Baylies
Morris Gray
Alfred Bowdltcn
James R. Hooper
fl. Parker Bremer
Ernest Lovering
timothy E. Byrnes
Henry H. Proctor
GhftrlesF. Choate
James- M. Prendergast
Alexander Cochrane
Herbert M. Sears
Philip Dexter
Lawrence M. Stockton
WUUam Endloott Jr
Nathaniel Thayer
Francis W. Fabyan
WUllam Farnsworth
Eugene V. R. Thayer
David R. Whitney
Fiederlok P. Fish
George Wiggleswortb
The Trust Company
of North America
Chestnut St.. PhOedelphla
GORDpN ABBOT'*’
Charles P. Adams 2nd
F, Lothrop Ames
Oliver Ames
C. W. Amory
William Amory
Frederic 0. Dumalne
William Endloott Jr.
Wilmot R. Evans
Frederick P. Fish
f.M,
Samuel Carr
B. P.
Reginald Foster
George P. Gardner
Edwin Farnham Greene
Cheney
Hon.T.JeflersonCooUdge
T. Jefferson Coolldge Jr.
Charles E. Cotting
Alvah Crooker
Robert F. Herrick
Henry S. Howe
HENRY O. BRBNGLB. President.
JOS. S. CLARE. Vice-President.
OH AS. P. LINE AWE AVER. See. A Trees.
ADAM A. STULL. Chairman of Board.
DIRECTORS*
Henry O. Breagle,
Janus Crosby Brown.
John Cadwalader.
E. W. Clark Jr..
Bekley B. Coze Jr..
Edwin 8. Dixon
Eugene L. Ellison.
Joseph C. Fraley.
Harry C Francis.
Henry L. Gaw Jr..
Howard 8. Graham,
J. Levering Jones.
Malcolm Lloyd.
John Mcllhenny,
Riehaid Wain Metis.
Clement B. Newbold.
John W. Pepper.
WlUiam F. Read.
Adam A. 8tull.
Edward D. Totand.
Joseph R. Wainwrlght,
Vice-Chairman.
Henry C. Jackson
PhUip L. Saltoomw
Geojrge E. Keith
Herbert M. Sears
XT
Gardiner M. Lane
Quincy
Shaw
Col. Thos. L. Livermore Howard Stoekton
Arthur Lyman
Philip Stockton
Chades S. Mellen
Charles A. Stone
Lucfaie TuttlA
EBBS*
Undprwi
Eliot Wadswoi
_
Walter Hunnewell
Charles W. Whittier
RRFSID^NT. PHILIP STOCKTON.
Vice-Presidents. WALLACE Bi. DONHAM
JULIUS R. WAKEFIELD
Manager Credit Dept.. ELMER, E. FOYE.
Treasurer. FREDERIC G. POUSLAND
Cashier, GEO. W. GRANT
Secretory. CHESTER B. HUMPHREY
Trust Officer. F. M. HOLMES
Authorize R«$arve Agent far Trust Companies in Maine, Massachusetts and Rhode Islands
Mississippi Valley Trull Ce.
Fourth A Pino Sts., St* Louis.
Capital and Surplus, $10,000,000
- -
es- —■
Financial Agent for
Individuals or
Interest Allowed
Individual and
AC,
..
on
T™C!!TAAS,'«or.«.«..
Depositary under Plans of RtorgaoLtom.
Registrar and Transfer Agent.
A tturner entire fhtirif of Real Estate,
Safes to Rent in Burglar-Proof Vaults.
CAPirALa^ffrflJt8,640.000
A GENERAL FINANCIAL AND FIDUCIARY
BUSINESS TRA.NSAPTED,
Presidenf58hyfuxee Light Heat *
John I. Beggs.
Traction Co.
Wilbur F. Boyle. Boyle A Priest.
gijwigrCj|£la!.'
Horatio N^DaVls,
S1.000.00C
CAPITAL
^airman of Board.
FRANCIS R. HAhi,
Philip Y. DeNormandle
Philip Dexter
George X. Draper
John D
A. A. JACKSON. 2d Vice-President.
%. i: m*nd
Effingham B. Motal£^ ^SfWard J. Berwlnd.
hO B.
~
S"WUUam
hn
A. l?§aw.
Brown Jr..
Randal Me
John S. Jenks Jr.,
Frances I. Go
Dir Good. O.
Preeldest Smith & Deri. lilc.O.
Devi.. vioe-PswUent.
sD^dHRofSSS%£l^!ie^: * °°Offlee.
McLeod LumberGO.
«&&f,SS£2.
Pr^d“' NwwWSWW*
wen.
Geo. H. McFadden.
enry
B. Coze.
Henry TatdaU,
due Smith.
Thos. De
B. 'Dawson Coleman.
0. Hartman Kuhi.* ‘
James Speyer.
Broad
wnnam D. W&ibr.
eters. Be
W, Peters.
President Peters Shoe Co.
Chalrma
manBoard
and Chestnui
,
PgXLADHtPHI*
Samuel F. Houston.
Chairman af the B
.-UtJ'g g;
j-
Rhode Island
Hospital
Trust Company
L. F. DOMMERICH A 60.
PRWDEHCE. R. I.
CAPITAL
$2,000,000
wtPLUS-^—$2,000,000
DIRECTORS.
NEW YORK
O. Taft. ~ ~Howard o. Sturges
H I. Goddard. J&epJaeajQ. Metcalf.
I. Guomeii,
waiter
iter JR. Callender.
WUllam B. Weeded.
EdwATd Holbrook.
General Offices, 67 Greene Street
jicicsoc
John R. Freeman.
SQUCIT MERCANTILE ACCOUNTS TO FINANCE
Herbert#. WOMf.
Lyman B. Goff;
Rowland G: Hazard
Nelson W. Aldrich.
mi AND GUARANTEE SALES
HERBERT J. WELLS. President.
EDWARD S. CLARK. Vice-President.
m«ML.
CYRUS E. LAPHAM, Asst. Seo’y.
JOHN E. WILLIAMS, Asst. See*y.
HENRY l/SLADER, Asst. Seo'y.
G. A.
^Em^HD^OTHEM
CARRY NO GOODS FOR OWN ACCOUNT
will!am rAY a. eo.
Successors <9,
HARRINGTON. Asst.Tr.Olf^
GEO
Geo. H. M?Fadden &
Bro.,
cxxrroN ufnwiaJKjra
COPE^ANP & CO..
BROKERS.
PHILADELPHIA.
COTTON
8$W YORK.
42 Cotton Exchange
New York. Liverpool Correspondents:
CENTRAL
FREDERIC ZEREGA A OO
Orders for
delivery contracts executed on Bremen
the New York and Liverpool Cotton Exchangee.
Corresjjondeoto.^ BBOTHBRS j, OO
TRUST COMPANY
R. H. ROUNTREE & CO., ^oiete^Fmport’ation ET DE COMMiyW
OF ILLINOIS
future
Commission Merchants.
CHICAGO
Capital and Surplus
-
$2,500,000
CHARLES O. DAWES. President.
A. UHRLAUB, Vice-President.
EDWIN F. MACK, Vice-President.
WILLIAM T. ABBOTT, Vice-President.
l?IL S^NWBR.^Aart’
M
Cashier.
AL^OLl? M?Do\v
Secretarj.
Jo^NL.*L§H%».AfSt.^r(fe,oe,.
BANKING.
SATINGS
AND TRUST
DEPARTMENTS.
COTTON, GRAIN, PROVISIONS and COFFER
COTTON EXCHANGE BUILDING.
NEW YORK.
Siegfr. Gruner & Co.
COTTON MERCHANTS
GWATHMEY A GO.
17 South William Street,
COTTON MERCHANTS
NSW YORK.
22 Exchange Place,
-
•
NEW YORK
ROBERT MOORE A CO.
82 Beaver Street. New York.
rURB DELIVERY EXB¬
ORDERS FOR FUTl
0CITED IN NEW YORK AND LIVERPOOL
■XOHANGES.
OOTTON
PURCHASED FOR SPINNERS*
USB.
Mason Smith & Co.,
00TTQN COMMISSION MERCHANTS
NEW ORLEANS LA.
HEHPHI8, TEN If.
DALLAS, TEX.
Buyers of Spot Cotton. Orders for Contnaeto
outed in New Orleans, New Yecfcl
Liverpool and Havre Markets..
VAKJv-TjtSS&fc
.,-■3*3!
V "' '■
::4-);^. $
■
CHRONICLE
THE
Cotton.
'.:.
(Vol.
gittxttjcial.
umi,
Jlttatuctal*
WOODWARD
& STILLMAN
COTTON MERCHANTS
Fversz & Company
16 to 22 WILLIAM STREET,
BANKERS
NEW YORK
AMERICAN COTTON OP ALL GRADES SUIT¬
ABLE TO WANTS OF SPINNERS.
E.H.ROLLINS&SON8
Established 1870
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
Negotiate and Issue Loans for Rail¬
Corporations.
Buy and sell Bonds suitable tor
roads and Established
Investment.
Established In 1850.
Henry Hentz & Co.
206 LA SALLE ST.
CHICAGO
COMMISSION MERCHANTS
16 to 22 William
Fiscal Agent for Cities and Corporations
Street, New Tork.
Execute Orders for Future Delivery
COITON
At the New Tork. Liverpool and New Orleans
Ootton Exchanges. Also orders for
COFFEE
At the New Tork Coffee Exchange
GRAIN AND PROVISIONS
at the Chicago Board of Trade and
GRAIN AND COTTON-SEED OIL
At the New Tork Produce Exchange
Hubbard Bros. & Co.
List
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS.
CHICAGO REAL ESTATE BONDS.
CORPORATION l RAILROAD BONDS.
COFFEE EXCHANGE BUILDING
on
Application
BOSTON
NEW YORK
CHICAGO
DENVER
8AN FRANCISCO
SEND FOR CIRCULARS.
HANOVER SQUARE.
PEABODY, H0U6HTELING & CO.
NEW YORK
COTTON MERCHANTS
Liberal Advances Made
on
181 La Salle Street*
Cotton
F. H. PRINCE & CO.
CHICAGO.
Consignments.
[Established 18854
BANKERS
Hopkins, Dwight & Co.
COTTON
*
BOSTON, MmSS.
GEO. H. BURR A CO.
and
COTTON-SEED OIL.
■
Room 83 Cotton Exchange Building.
NEW YORK.
LEHMAN, STERN
W-
A
HIGH-GRADE INVESTMENTS
BANKERS
COMMISSION MERCHANTS
CO.. Limited. New Orleans.
LEHMAN BROS.
Nos. 16-22 William Street, New York.
Members of the Stock. Colton, Cqjjee
Produce Exchanges, New York.
Commercial Paper
43
Exchange Place
Chicago
Boston
Philadelphia
San
-
*
New York
Members of New Tork and Beaton Stock Exchange*
St Leu Is
Kansas City
Francisco
and
Orders executed on the above Exchanges, as well In
New Orleans. Chicago and foreign markets.
Stephen M. Weld & Co.,
COTTON
82-92 Bearer
MERCHANTS,
Street,
•
New York City
Sullivan Brothers
Municipal and Corporation Bonds
BONDS
FIRST NATIONAL BANK BLDG..
CHICAGO
427
SMITH A HAYNE
MUNICIPAL & COR¬
PORATION BONDS
Prank B. Hayne (In Commendnm)
Cotton Brokers,
COTTON EXCHANGE BUILDING.
MEW
ORDERS
FOR
182 LA SALLE
ORLEANS, LA.
FUTURE
DELIVERY
STREET,
AND LIVERPOOL MARKETS.
on
preceding oage.)
financial.
BONBS FOR INVESTMENT
The audit company
of New York
City Investing Building
165 Broadway, New York
.
FIRST NATIONAL BANK BLDG.,
CHICAGO
PHI LA. NATIONAL BANK BLOGPHI LADELPHIA
{New York 8t®ck Exchange
(Philadelphia
“
“
BANKERS AND BROKERS
Broadway*
-
Naw Ysrk
MEMBERS OP
NEW YORK STOCK EXCHANQE.
HOLLISTER, FISH & CO
BANKERS
Members Mew York 8toek
Exchange
Investment Securities
Nassau A Pina Straata, N. Y
Telephone 6T86 Cortland.
„
Mew York Life
Audits and examinations.
Financial and cost systems of accounts.
FIRST NATIONAL BANK
.
DominicK & DominicK
Building, Chicago
Appraisals of values of landsf^ buildings,
machinery, etc.
H. T. HOLTZ & CO.
-
$2,000,000
JOHN B. PURCELL. President
JOHN M. MILLER JR.. V.-Prest. & Cashier
FREDERICK B. NtfLTING, 2d Vloe-Prest
Correspondence Invited
115 BROADWAY
Member* New Tork Stock Exchange
MUNICIPAL AND
CORPORATION BONDS
RICHMOND. VIRGINIA
Capital and Earned Surplus,
Devitt, Tremble & Co.
STREET
W. T. HATCH &, SONS
71
EXB-
—
[Established 18884
OHXOAOO
fttCUTED IN NEW ORLEANS, NEW TORK
(Other cotton cards
Members
Chas. S. Kidder & Co.
A OO.
CHESTNUT
Co.
PHILADELPHIA, PA.
BOSTON, PHILADELPHIA, PROVIDENCE
Liverpool, WELD A CO.
Bremen. ALBRECHT, WELD
&
Correspondence Invited
171 LA SALLE STREET, CHICAGO
United Bank Note Corporation Stocks
DICK BROTHERS & CO.
BANKERS AND BROKERS.
80 Broad St.,
...
New York.
Member* of N. T. and PhUa. Stock Exoha
ngea
New Tork. New Orleans and Liverpool Cotton
Exchanges, New York Ootfee Exchange
and Chicago Board of Trade.
@FedFRASER