The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
^ f i n a n c i a l
Bank and Quotation Section (Monthly)
Railway and Industrial Section ( Q u a r t e r ly )
VOL. 87.
State and City Section(s emi-Annually^
Electric Railway Section
SATURDAY, DECEMBER 12 1908.
ilx *
(K fa v o
W e e k ending Decem ber 5 .
C learings at—
1908.
P U B L IS H E D W E E K L Y .
T e r m s
o f S u b s c r ip t io n —
P a y a b le
in
A d v a n c e
For One Year .................................................................................................. <810 00
For Six M onths......................................
' *...........................................
fl 00
European Subscription (including p o sta g e )!"!!............ ! ’. ! ! ! ! ! ! ! ! ! ! ! ! ! ! 13 00
European Subscription six months (including postage)........................ 7 50
Annual Subscription in London (including p ostage)............................ £ 2 14s.
Six Months Subscription in London (including postago)......................£ 1 11 s.
Canadian Subscription (including p o s ta g e ).............................................$11 50
S u b s cr ip tio n in c lu d e s fo llo w in g S u p p lem e n ts—
B \n k a n d Q u o t a t i o n ( m o n t h l y )
I S t a Y k a n d C i t y (s e m i-a n n u a ll y )
K a i l w a y a n d I n d u s t r i a l ( q u a r t e r l y ) | E l e c t r i c k a i l w a y (3 t im e s y e a r ly )
T e r m s
o f
A d v e r t is in g — P e r I n c h
S p a c e
Transient matter per inch space (14 agato lin os)...................................... $4 20
r Tw o Months
(8 tim es)............................. 22 00
Standing Business Cards j' SThree
Months (2
(13
tim es)............................. 29 00
s t a n d in g K u s in e s s C a rd s
is : M o n t h „
(5 tiln C 8 )' ...................................... GO 0 0
(. T w elve Montlis (52 tim es).......................... 87 00
C H ICAGO O F F IC E —P. Kartlott, 513 Monadnock Block; Tel. H a rrison 4012.
LON D ON O FFIC E —Edwards & Smith, 1 Drapers’ Gardons, E. C.
W I L L I A M II . D A N A C O M P A N Y , P u b l i s h e r s ,
1*. O . B o x ?)58.
f r o n t , Pino nil <1 D ep eyster S ts. t
N ow Y o r k .
Published every Saturday m orning by W IL L IA M B. D A N A C O M P A N Y.
W illiam B. Dana, President; Jacob Seibert J r., Vico-Pres. ami Seo.; A rnold
G. Dana, Treas. Addresses oi all, Oflfico of tlio Company.
C h i c a g o __________
C i n c i n n a t i ________
C l e v e l a n d ________
D e t r o i t __________
M i l w a u k e e ______
I n d i a n a p o l i s _____
C o l u m b u s ________
T o l e d o ................... ..
P e o r i a ........... ..........
G r a n d I l a p i d s ___
D a y t o n __________
E v a n s v i l l e ...........
K a l a m a z o o ______
S p r in g fie ld . I ll . .
F o r t W a y n e _____
Y o u n g s t o w n _____
L e x i n g t o n ________
A k r o n ____________
C a n t o n ____________
I t o c k f o r d ________
B l o o m i n g t o n _____
Q u i n c y ......................
S p r in g fie ld , O ___
S o u t h B e n d ...........
D e c a t u r .................
J a c k s o n ...................
M a n s f ie ld ................
J a c k s o n v il le , 111.
A n n A r b o r _______
A d r ia n __________
D a n v i l l e . ........... ..
T o t . M i d .W e s t .
C LEA R IN G -H O U SE R E T U R N S .
The following table, made up by telegraph, &c., indicates
that the total bank clearings of all clearing houses of the U. S
for week end.Dec. 12 have been 83,151,112,700, against$3,422,068,217 last week and 82,274,295,718 the week last year.
Clearings— R etu rns b y Telegrapg D e c . 12
1908.
1907.
N o w Y o r k __________________________________
B o s t o n ___________________ ________ __
P h i l a d e l p h i a ....................................................... .
B a l t i m o r e __________________________ ________ _
C h i c a g o _______ ___________ ___________ ______
S t . L o u i s ............................. ............................ ! ! ,
N e w O r l e a n s . . ........... ........................................
$ 1 ,0 5 0 ,0 7 9 ,6 7 1
1 4 0 ,8 1 0 ,7 4 1
9 9 ,3 4 5 ,0 3 8
2 2 ,5 0 1 ,7 2 2
2 1 7 ,0 2 3 ,0 5 7
6 1 ,4 7 0 ,7 5 1
1 0 ,9 8 4 ,7 4 2
$ 1 ,0 9 0 ,5 7 7 ,3 0 6
1 0 3 ,0 3 9 ,1 7 4
9 1 ,9 1 1 ,9 8 5
2 1 ,6 8 0 ,2 1 6
1 0 4 ,7 7 4 ,9 2 2
5 1 ,7 4 6 ,4 0 3
1 8 ,1 7 2 ,2 6 9
+ 5 0 .5
+ 3 0 .7
+ 8 .1
+ 3 .8
+ 3 1 .7
+ 1 8 .8
— 6 .5
S e v e n c it ie s , 5 d a y s ...................................
O t h e r c it ie s , 5 d a y s ....................................... .
$ 2 ,2 0 8 ,2 0 0 ,7 2 2
4 1 7 ,2 1 7 ,0 9 1
$ 1 ,5 4 7 ,9 0 2 ,3 4 0
3 5 9 ,4 8 1 ,9 7 0
+ 4 2 .7
+ 1 0 .1
T o t a l a ll c i t ie s , 5 d a y s ...............................
A ll c i t ie s , 1 d a y ....................................................
S 2 ,0 2 5 ,4 7 8 ,4 1 3
5 2 5 ,0 3 4 ,2 8 7
$ 1 ,9 0 7 ,3 8 4 ,3 1 0
3 0 6 ,9 1 1 ,4 0 8
+ 3 7 .6
+ 4 3 .3
T o t a l a ll c i t ie s f o r w e e k ______ _________
$ 3 , 1 5 1 ,1 1 2 ,7 0 0
$ 2 ,2 7 4 ,2 9 5 ,7 1 8
+ 3 8 .0
%
The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and lienee in the above the last day of the week lias
to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, Dec. 5, for four years.
W e e k ending D ecem ber 5 .
Clearings at—
In c . or
D ec.
N e w Y o r k ______
P h i l a d e l p h i a ___
P i t t s b u r g h ...........
H a l t l m o r e ...........
B u f f a l o ...................
A l b a n y ................
W a s h i n g t o n ___
K o c h e s t e r ______
S c r a n t o n ..............
S y r a c u s e ..............
W i l m i n g t o n ____
B e a d i n g ..............
W ilk c s - U a r r o . .
W h e e l in g ...........
H a r r i s b u r g _____
Y o r k .....................
E r i c ........................
C h e s t e r ................
B i n g h a m t o n ___
U r e e n s b u r g _____
F r a n k l i n _______
A l t o o n a ................
T r e n t o n ..............
T o t a l M id d le ..
B o s t o n ........... .
P r o v id e n c e . . .
H a r t r o r d ______
N ew H a v e n ...
S p r in g f i e ld ____
P o r t l a n d ______
W o r c e s t e r ____
F a ll K l v e r ____
N e w B e d fo r d
H o l y o k e _______
L o w e l l ________
T o ta l N ew E n g.
$
S
2 ,1 9 0 .1 1 6 ,8 9 1 1 ,4 3 4 .5 3 8 .1 0 0
+ 1> 2.7 2 ,1 7 7 ,3 4 5 ,3 0 8 2 ,1 0 5 ,5 3 5 ,0 4 0
1 3 8 ,9 0 7 ,0 0 2
1 3 3 ,3 4 9 ,3 1 2
1 6 1 ,4 2 2 ,6 5 0
1 4 3 ,4 0 1 ,9 2 8
4 2 , 8 6 4 ,4 1 5
5 1 ,9 0 8 ,9 7 4
5 4 ,0 5 6 ,7 4 1
5 0 ,3 1 7 ,7 4 5
2 0 ,7 3 2 ,9 1 9
+ 0 .5
2 8 , 4 7 9 ,8 0 0
2 9 ,3 3 9 ,8 0 4
3 1 ,9 1 3 ,8 0 0
+ 7 .4
9 ,0 0 9 ,4 3 4
8 ,4 7 4 ,5 0 7
1 0 ,0 5 3 ,5 4 3
9 ,8 0 0 ,5 0 8
+ 1 4 .4
5 ,9 4 3 ,0 4 9
5 ,1 9 3 ,3 2 2
5 ,1 0 5 ,8 1 2
0 ,9 9 3 ,8 9 3
5 ,3 5 1 ,9 4 8
7 .1 2 4 ,0 0 7
+ 3 3 .1
7 ,0 9 4 ,1 0 1
0 ,1 8 7 ,2 0 3
4 .1 8 9 ,9 5 3
+ 1 2 .9
3 ,7 1 1 ,1 4 4
3 ,4 7 1 ,6 0 9
4 ,3 8 8 ,3 4 0
2 .7 0 5 , 5 8 6
2 ,3 4 9 ,2 0 4
+ 1 7 .7
2 ,0 5 0 ,0 0 0
1 ,8 0 4 ,5 6 4
+ 3 .4
2 ,1 3 1 .0 0 5
2 ,0 6 1 ,7 8 7
1 ,4 8 0 ,8 0 0
2 ,0 2 5 ,5 0 3
1 ,3 0 2 ,1 2 5
+ 4 .0
1 ,3 0 1 ,9 2 9
1 ,4 1 1 ,9 3 3
1 .3 0 5 ,9 2 9
1 ,4 7 3 .9 9 3
+ 1 2 .3
1 ,3 1 1 ,9 0 9
1 ,3 8 5 ,8 8 4
1 ,2 8 0 .1 9 7
1 ,5 9 3 .6 9 6
1 ,2 9 2 ,3 1 0
+ 2 3 .3
1 ,3 8 2 ,2 9 3
1 ,1 0 9 ,1 3 4
1 ,7 1 4 ,1 3 3
+ 8 .5
1 ,5 7 9 ,5 3 7
1 ,2 0 0 ,9 0 2
8 8 1 ,2 7 4
1 ,1 0 9 ,9 3 9
+ 0 .0
1 ,1 0 4 ,1 2 0
1 ,1 2 1 ,1 0 5
8 0 3 ,5 6 0
7 0 0 ,5 9 2
+ 1 3 .5
7 0 1 ,3 5 1
6 5 3 ,7 5 4
+ 7 .3
7 2 8 ,1 3 8
0 0 0 ,3 9 3
4 7 5 ,5 4 5
5 0 9 ,9 0 9
5 5 3 ,4 2 5 — 14.1
5 0 7 ,8 3 0
4 7 5 ,4 0 0
4 0 4 ,7 0 0
+ 2 .3
5 1 7 ,5 0 0
5 2 0 ,5 0 0
6 0 3 ,5 9 1
4 3 5 ,0 7 5
+ 3 8 .7
4 7 9 ,2 0 8
4 0 9 ,3 2 0
2 5 2 ,8 7 8
2 0 2 ,2 2 2
— 3 .0
2 0 9 ,7 3 5
2 9 8 ,8 4 0
4 0 0 ,2 1 2
— 4 .4
4 2 5 ,0 0 1
2 ,0 5 5 ,3 3 1 N o t I n c lu d e d In t o t a l
t\ h
2 ,4 4 2 ,7 4 0 ,0 3 1 1 ,0 8 3 ,8 7 5 ,8 0 3
+ 4 5 .1 2 ,4 0 0 ,9 5 0 ,7 3 2 2 ,3 0 3 ,0 0 4 ,5 1 2
1 7 3 ,3 5 9 ,0 8 0
7 ,7 1 0 , 0 0 0
3 ,0 3 4 , 8 6 4
2 ,0 7 1 ,7 1 7
2 ,1 8 5 ,7 7 1
2 ,0 9 3 ,5 2 7
1 ,8 2 2 ,8 0 7
1 ,3 5 8 ,8 8 2
1 ,0 9 3 ,2 8 2
5 3 0 ,1 2 1
5 0 3 ,2 5 1
1 3 2 ,9 9 3 ,0 8 8
0 ,7 3 7 ,4 0 0
3 ,3 0 0 ,4 8 4
2 ,0 7 4 ,1 3 0
1 ,9 7 4 ,9 4 3
1 ,9 9 9 ,0 8 5
1 ,4 9 4 ,0 9 5
9 3 8 ,5 8 9
8 0 4 ,2 9 9
5 7 7 ,0 0 3
4 9 4 ,0 8 9
+ 3 0 .3
+ 1 4 .5
+ 1 0 .1
— 0 .0 9
+ 1 0 .7
+ 4 .7
+ 2 2 .0
+ 4 4 .8
+ 3 5 .9
— 7 .1
+ 1 .9
1 7 9 ,2 2 0 ,9 0 6
9 ,0 7 2 ,0 0 0
3 ,8 0 2 ,9 0 7
2 ,0 1 8 ,9 1 7
2 ,3 4 8 ,1 8 6
2 ,1 2 5 ,2 9 7
1 ,7 8 9 ,2 8 9
1 ,1 9 8 ,2 1 7
7 8 0 ,2 4 4
5 8 0 ,5 2 7
4 9 9 ,9 5 5
1 0 4 .5 4 9 ,7 2 4
8 ,0 0 2 .3 0 0
3 ,3 4 0 ,4 5 7
2 ,3 0 8 ,0 8 0
1 ,8 7 1 ,0 1 0
2 ,0 0 0 ,7 7 0
1 ,5 2 4 ,2 5 8
1 ,1 0 7 ,0 9 6
0 5 5 ,7 2 1
5 5 6 ,3 1 4
5 5 1 ,3 7 1
1 9 0 ,9 7 5 ,9 0 8
1 5 3 ,9 8 7 ,8 0 5
+ 2 7 .9
2 0 4 .1 0 8 ,5 0 5
1 8 6 ,6 8 9 ,1 0 7
NO. 2268.
S a n F r a n c i s c o ___
I .o s A n g e l e s ______
S e a t tle __________
S p o k a n e __________
P o r t l a n d _________
S a lt L a k e C i t y ___
T a c o m a ...................
O a k l a n d __________
H e le n a _________
F a r g o ........... ....... ..
S i o u x F a l l s ...........
S a n J o s e . .................
S a c r a m e n t o ______
S t o c k t o n ................
S a n D i e g o ..............
F r e s n o ......................
N o rth Y a k im a . .
B i l l i n g s __________
1907.
In c . or
D ec.
1906.
1905.
$
$
2 0 2 ,5 3 2 .1 5 9
+ 1 4 .7
2 7 2 .7 9 0 ,8 8 4
2 2 ,1 2 6 .2 5 0
+ 1 9 .2
2 6 .3 6 4 ,1 5 0
1 5 .6 7 4 ,0 5 4
— 1 .2
1 5 .4 8 5 .9 0 3
+ 1 4 .3
1 3 .0 4 8 ,2 1 8
1 4 ,9 1 0 ,0 8 3
1 0 ,5 8 7 .4 3 3
+ 2 8 .3
1 3 .5 8 2 .3 7 2
8 .2 1 5 .3 9 4
6 .5 8 1 .4 5 4
+ 2 4 .8
4 ,7 0 5 ,8 0 0
+ 1 3 .5
5 .4 0 8 ,2 0 0
+ 1 1 .5
3 ,7 9 0 ,8 9 2
3 .4 0 4 .2 7 7
2 .1 5 7 ,5 2 4
+ 6 5 .4
3 .5 6 7 .3 0 1
2 .3 1 9 ,3 0 9
2 ,1 7 2 ,1 4 2
+ 0 .8
1 ,9 4 6 ,4 0 5
1 ,4 3 2 .7 2 3
+ 3 5 .9
1 .9 0 3 .1 9 6
1 ,7 2 3 ,5 7 6
+ 1 3 .9
1 ,1 3 0 .6 5 4
8 9 3 ,0 5 2
+ 2 6 .6
1 .0 7 5 .0 0 0
8 4 0 ,3 1 7
+ 2 8 .0
8 0 0 ,8 9 5
7 2 3 ,4 5 3
+ 1 0 .7
8 1 2 ,9 4 7
1 ,0 2 7 ,3 0 3
— 2 0 .9
7 0 5 .1 8 1
7 2 4 ,0 4 0
+ 5 .6
0 2 0 ,0 0 0
3 9 0 ,0 0 0
+ 5 9 .0
7 1 9 ,5 4 3
5 9 5 ,8 8 1
+ 2 0 .8
5 2 0 .0 1 5
4 7 8 ,0 8 7
+ 8 .6
4 7 0 ,1 3 5
4 0 1 ,0 2 9
+ 2 .0
5 0 5 ,0 3 6
4 0 0 ,1 0 3
+ 9 .8
4 8 5 ,2 7 3
4 0 0 ,7 8 8
+ 2 1 .0
4 7 1 ,5 6 2
3 7 1 ,0 1 4
+ 2 7 .1
4 2 9 ,0 4 4
3 5 1 ,5 0 1
+ 2 2 .2
3 3 0 ,0 0 0
3 0 4 ,9 7 8
+ 4 .9
3 2 9 ,5 3 3
1 9 9 ,0 3 3
+ 6 5 .1
2 6 1 ,6 3 8
2 0 3 ,8 7 2
— 0 .8
2 0 0 ,0 0 0
1 9 0 ,7 I S
+ 1 .7
2 0 ,1 1 8
1 7 ,9 2 3
+ 1 2 .2
3 4 5 ,8 1 5 N o t I n c lu d e d In t o t a l
$
2 4 2 ,6 0 7 ,1 4 1
2 7 ,4 1 5 ,7 5 0
1 7 ,2 5 1 ,4 8 3
1 4 ,3 9 0 ,8 8 4
1 0 ,9 3 2 ,2 5 7
8 ,5 6 0 ,2 3 2
6 ,2 0 0 ,0 0 0
4 ,2 3 8 ,4 5 2
3 ,5 0 1 ,1 9 4
2 ,3 0 8 ,2 2 0
1 .9 1 0 ,5 0 7
1 ,9 2 3 ,6 5 0
1 ,3 6 2 ,3 4 0
9 1 5 ,6 2 4
8 3 1 ,5 0 8
7 7 1 ,0 0 8
7 3 9 ,3 8 1
6 5 3 ,4 1 9
5 5 7 ,1 9 0
5 0 3 ,9 0 1
5 8 2 ,4 0 3
5 2 0 ,8 0 9
3 8 8 ,9 9 6
4 8 1 ,5 5 6
3 9 4 ,1 2 1
3 0 5 ,9 0 1
3 8 5 ,0 7 9
2 8 9 ,9 0 5
1 0 6 ,1 5 0
$
2 2 6 ,7 7 2 , 3 0 0
2 5 ,9 4 0 , 2 0 0
1 8 ,0 6 9 ,2 1 3
1 3 ,3 3 8 .0 7 6
1 0 ,0 6 2 ,7 2 3
8 ,0 2 0 , 7 6 9
6 ,2 4 3 , 4 0 0
4 ,1 2 7 , 5 0 3
3 ,0 4 8 , 7 1 5
3 ,3 0 8 , 1 1 9
2 .0 1 3 , 6 2 8
1 .7 1 7 ,0 8 1
1 ,0 1 0 , 3 6 6
8 4 7 ,0 0 6
8 9 6 ,6 6 0
8 1 5 ,2 8 0
7 7 7 ,2 5 6
5 2 1 ,7 0 0
4 2 0 ,8 8 3
4 7 3 ,5 7 6
5 5 7 ,7 8 3
4 3 2 ,4 6 1
3 8 4 ,4 2 0
3 7 7 ,1 3 1
3 6 6 ,3 8 3
2 8 5 ,8 2 6
3 4 0 ,9 9 7
3 1 8 .4 5 0
1 5 1 .0 0 2
3 8 0 ,2 9 7 ,5 0 3
2 9 4 ,9 0 7 ,2 2 2
+ 2 9 .0
3 5 1 ,1 0 1 ,7 2 1
3 3 1 ,3 0 5 , 3 0 7
4 0 ,3 4 1 ,7 5 7
2 9 ,2 1 0 .8 4 4
1 3 ,0 4 3 ,7 6 3
0 .8 0 9 ,3 5 2
9 .8 3 2 ,0 6 4
7 ,2 2 1 ,5 0 1
7 .5 9 7 ,6 3 2
5 ,6 2 1 .3 3 5
4 .4 0 0 ,1 8 3
0 .6 8 1 ,4 1 8
7 .5 1 7 .7 3 9
3 ,8 0 8 ,3 0 9
4 ,8 5 3 .1 7 9
4 ,7 7 1 .0 1 7
1 7 7 9 ,3 6 7
1 3 3 7 ,3 2 9
1 .2 0 4 ,7 4 4
8 7 5 .5 6 3
7 9 8 ,4 1 5
7 1 2 ,3 5 2
6 3 5 ,0 0 0
5 8 5 ,0 0 0
5 3 3 ,5 0 3
3 6 0 ,0 0 0
7 5 0 ,0 0 0
1 ,1 1 3 ,0 0 0
6 1 7 ,9 0 4
6 1 4 ,8 1 5
7 9 3 ,0 0 0 N o t I n c lu d e d
7 2 9 ,2 1 0 N o t I n c lu d e d
N o t I n c lu d e d
N o t I n c lu d e d
+ 3 8 .1
+ 8 9 .9
+ 3 6 .2
+ 3 5 .2
+ 5 1 .6
+ 9 7 .4
+ 1 .7
+ 3 3 .1
+ 4 4 .4
+ 1 2 .1
+ 8 .5
+ 4 8 .2
+ 4 8 .4
+ 0 .5
In t o t a l
in t o t a l
In t o t a l
In t o t a l
5 1 ,1 3 2 ,4 9 0
1 2 ,5 7 9 ,0 7 4
1 0 ,9 0 5 ,7 3 1
0 ,4 5 9 ,9 9 1
7 ,3 3 2 .0 2 3
8 ,2 8 9 ,0 9 7
5 ,1 7 1 ,1 4 6
3 ,7 9 4 ,0 1 3
9 8 6 ,9 5 3
8 4 3 ,7 1 5
5 3 8 ,9 5 0
3 3 3 ,4 2 1
3 9 ,4 5 4 , 4 3 1
1 0 ,1 4 5 ,8 0 0
6 ,7 8 5 , 9 1 8
4 ,4 5 3 , 5 8 0
5 ,0 7 9 , 1 1 2
6 ,0 6 0 ,7 2 4
4 ,1 8 6 , 8 5 8
1 ,0 8 2 ,1 1 2
1 .0 0 9 ,4 0 7
4 3 2 ,0 9 1
T o ta l P a c ific ..
9 6 .6 1 0 ,0 8 5
6 7 ,1 4 3 ,6 6 0
+ 4 3 .9
1 0 8 ,3 6 8 ,1 0 4
7 8 ,6 9 6 ,0 9 3
K a n s a s C i t y ------M i n n e a p o l is ______
O m a h a . ................
S t . P a u l ---------------D e n v e r ---------------S t . J o s e p h _______
D e s M o i n e s ______
S io u x C i t y -----------L i n c o l n ..................
D a v e n p o r t ..............
W i c h i t a ...................
T o p e k a ...... ............
C o l o r a d o S p r in g s
C e d a r R a p i d s ___
P u e b l o ...................
F r e m o n t _________
4 0 ,8 8 7 ,4 1 4
2 0 .7 4 5 .0 6 8
1 3 .8 8 4 ,0 0 0
1 1 ,9 2 3 ,6 7 1
9 ,1 0 1 ,5 1 9
5 ,1 7 5 .2 2 9
3 .0 8 6 ,5 6 2
2 .0 0 1 ,3 9 7
1 .3 5 1 ,3 9 5
1 ,3 0 0 ,5 2 3
1 .6 7 5 ,4 7 2
1 ,1 7 3 .5 7 2
5 1 4 ,7 8 7
8 4 2 .7 1 3
5 5 0 ,0 2 2
3 8 2 ,0 4 2
2 5 ,9 7 9 ,8 0 4
2 0 ,5 0 4 ,0 8 4
1 0 ,7 3 8 ,8 8 5
1 0 ,9 3 8 ,9 0 4
7 ,5 9 0 ,9 4 2
3 ,0 2 5 ,7 0 1
2 ,8 8 0 ,0 1 8
1 ,9 5 5 ,4 9 8
1 ,0 5 8 ,0 2 0
9 7 0 ,0 0 1
1 ,1 1 0 ,5 4 6
9 1 4 ,2 1 9
6 4 2 ,6 2 8
8 1 3 ,3 9 6
5 7 0 ,2 0 5
2 3 3 ,0 3 2
+ 5 7 .4
+ 0 .9
+ 2 9 .3
+ 9 .0
+ 1 9 .9
+ 4 2 .8
+ 7 .1
+ 3 6 .1
— 1 8 .3
+ 3 3 .8
+ 5 0 .9
+ 2 8 .4
— 1 9 .9
+ 3 .0
— 4 .0
+ 6 3 .9
3 0 ,2 0 0 ,3 6 0
2 7 ,1 1 7 ,7 0 5
1 0 ,7 0 0 ,0 0 0
1 0 ,1 2 8 ,5 0 2
8 ,7 8 3 ,0 8 9
5 ,0 2 3 ,7 7 2
2 ,9 6 3 ,0 3 4
2 ,0 6 7 ,0 2 2
1 .4 0 3 ,1 4 0
1 ,1 9 5 ,1 0 0
1 ,1 7 3 ,3 9 2
1 ,0 9 0 ,5 1 5
7 9 1 ,1 0 3
0 8 9 ,9 8 7
5 0 0 ,3 3 9
3 5 1 ,9 8 0
2 7 ,3 0 8 , 2 4 5
2 4 .4 1 7 , 2 2 8
9 ,1 0 3 , 3 5 8
8 ,1 1 8 , 3 8 1
0 ,5 5 0 , 7 1 2
5 .1 2 7 , 1 7 6
2 .9 8 4 , 5 6 0
1 ,9 7 1 ,1 6 8
T o t . o t h .W e s t .
1 2 1 ,2 6 1 ,9 8 6
9 7 ,1 4 4 ,6 0 3
+ 2 3 .5
1 0 4 ,2 5 8 ,7 7 2
9 0 ,7 7 1 . 3 1 9
0 8 ,2 0 3 .2 2 2
5 8 ,1 2 5 ,3 0 2
+ 1 7 .3
2 1 .5 0 0 ,0 4 6
2 1 ,8 0 3 ,9 9 0
— 1 .7
1 5 ,1 1 7 ,9 0 4
+ 4 4 .4
1 0 ,4 0 5 ,6 0 8
1 5 ,8 3 4 ,9 5 1
9 ,6 3 9 ,9 4 5
+ 6 4 .3
7 .0 8 5 ,5 0 0
6 ,8 4 0 ,0 0 0
+ 3 .5
6 .3 3 4 ,5 0 5
6 ,9 1 0 ,6 5 3
— 8 .4
5 .5 7 4 ,3 1 2
5 ,0 9 8 ,4 9 8
— 2 .2
0 ,9 0 7 ,2 8 4
6 ,2 7 8 ,5 5 1
— 3.1
5 .9 7 9 ,3 4 6
5 .9 5 5 .9 4 9
+ 0 .4
0 .9 0 0 ,0 0 0
4 .6 7 0 ,4 2 2
+ 4 7 .6
3
.9
1
4
.0
9
5
3 .0 8 2 ,5 2 0
— 2 1 .2
3 ,4 7 3 ,0 4 0
2 ,9 1 7 .3 8 3
+ 1 9 .1
2 .3 4 0 .7 0 5
2 .6 1 4 ,4 8 1 — 1 0 .5
2 ,1 9 9 ,0 2 7
2 .0 7 6 ,6 3 9
+ 5 .9
1 ,7 0 3 ,9 3 9
1 ,4 8 8 ,2 4 4
+ 1 8 .5
1 ,6 0 3 ,3 5 3
1 ,5 5 0 .8 4 5
+ 3 .4
1 ,6 4 0 ,8 1 4
1 .5 0 0 ,1 0 2
+ 4 .8
1 ,5 9 1 ,1 2 9
1 ,4 1 3 ,5 7 7
+ 1 2 .0
1 ,3 1 5 ,2 5 4
1 ,6 7 3 ,9 3 7
+ 2 7 .3
1 .6 7 4 ,0 0 3
1 ,3 9 5 .4 9 4
+ 2 0 .0
1 ,4 5 0 ,0 0 0
7 5 4 ,0 3 5
+ 9 2 .3
9 4 0 .5 5 4
7 6 8 ,4 1 2
+ 2 3 .2
3 0 7 ,5 0 0
5 S 4 .7 0 0
+ 5 9 .1
8 9 3 ,9 8 0
5 8 8 ,3 9 2
+ 5 1 .8
6 0 4 ,4 5 8 N o t I n c lu d e d In t o t a l
0 5 ,9 5 9 ,4 4 3
2 8 ,2 0 8 ,2 2 1
1 3 ,0 9 4 .6 5 0
1 3 ,0 0 1 ,2 2 1
9 ,3 0 9 ,5 0 0
7 ,0 8 4 ,2 1 9
7 ,8 0 7 ,7 2 2
7 ,7 4 8 ,3 5 8
0 ,0 9 9 ,0 0 8
4 ,5 1 3 ,8 3 8
4 ,4 2 0 ,7 5 1
3 ,9 2 4 ,3 0 0
2 ,5 8 4 ,0 2 0
2 ,3 1 0 .1 4 0
2 ,7 1 8 ,0 0 7
1 .9 5 8 ,0 0 0
1 .7 7 2 ,0 0 1
1 ,5 4 8 ,1 5 3
1 ,0 6 2 ,0 0 3
1 ,5 4 1 ,4 0 2
1 ,1 8 1 ,7 1 0
1 ,0 4 9 ,4 9 9
3 5 0 ,0 0 0
6 4 ,2 2 8 ,7 0 1
2 7 ,0 0 7 ,9 4 7
1 4 ,6 0 1 ,8 9 1
1 0 ,2 6 1 ,0 1 1
8 ,1 0 5 ,5 0 0
0 ,7 9 7 , 2 1 3
6 ,8 3 3 , 1 2 9
8 ,3 1 7 , 2 2 6
5 .5 0 3 ,1 5 3
3 .5 9 7 . 6 2 8
4 .0 3 8 , 8 0 5
3 .0 0 9 , 9 9 1
2 .0 4 5 , 3 6 3
2 .0 4 9 , 7 3 6
1 .7 1 0 ,7 0 1
1 .6 2 2 ,7 9 5
1 ,9 5 8 ,2 4 4
1 ,4 6 4 , 3 9 5
1 ,4 3 7 ,8 0 2
1 ,3 5 1 .8 0 9
1 9 0 ,9 3 3 ,4 9 2
1 7 7 ,4 8 6 ,5 5 4
S t . L o u i s ................
N e w O r l e a n s _____
L o u i s v i l l e ..............
H o u s t o n ................
G a l v e s t o n ..............
R i c h m o n d ______
S a v a n n a h ________
M e m p h i s _________
A t l a n t a ---------------F o r t W > r t h _____
N a s h v ille ________
N o r f o l k ...................
A u g u s t a ...................
B i r m i n g h a m _____
L i t t l e R o c k ...........
M o b i l e ____________
c h a r l e s t o n ..............
K n o x v i l l e ..............
C h a tta n oog a . . .
J a c k s o n v i l l e _____
M a c o n ____________
B e a u m o n t ______
V i c k s b u r g -----------T o t a l S o u th ern
1 8 4 ,1 7 6 .7 0 4
1 5 9 ,8 8 8 ,1 2 4
+ 1 5 .2
1 ,1 9 9 .3 2 0
1 .2 4 9 ,8 1 0
7 4 9 ,6 7 8
7 1 4 ,2 8 7
0 1 0 ,5 1 3
4 9 0 ,0 7 1
2 5 4 ,8 1 2
0 4 0 .1 0 3
3 7 1 ,2 9 2
T o t a l a l l ________ 3 ,4 2 2 ,0 6 8 ,2 1 7 2 ,4 5 6 ,9 4 7 .3 9 7
+ 3 9 .3 3 .4 2 5 .7 2 1 ,5 2 6 3 .2 2 8 ,6 1 2 , 8 9 2
O u t s i d e N . Y . . 1 .2 3 1 .9 5 1 .3 2 6 1 ,0 2 2 ,4 0 9 .2 3 1
+ 2 0 .5 1 ,2 4 8 ,3 7 6 .1 5 8 1 ,1 2 3 ,0 7 7 ,8 4 6
C anada—
M o n t r e a l .................
T o r o n t o _________
W i n n ip e g _________
V a n c o u v e r _______
O t t a w a ____
..
Q u e b e c ......................
H a l i f a x __________
H a m i l t o n _________
L o n d o n __________
S t . J o h n ...............
V icto ria
................
T o ta l C anada
3 2 .9 6 3 ,5 5 2
2 9 ,1 0 5 ,2 5 5
2 0 .3 2 9 .8 3 9
3 .8 9 4 ,3 5 1
3 ,3 0 0 .8 5 1
2 .3 9 5 ,5 0 7
1 .7 0 0 ,6 7 0
1 .0 9 7 ,2 3 2
1 .9 0 8 ,9 0 0
1 .2 0 4 ,4 6 3
1 ,3 7 9 ,4 5 3
8 6 7 ,0 1 4
1 ,0 8 4 ,3 3 8
3 1 ,3 3 4 ,9 5 7
2 5 ,2 5 0 ,0 6 2
1 5 ,7 0 1 ,8 0 2
3 ,9 5 0 ,0 2 3
3 ,2 6 4 ,7 2 5
2 ,8 0 0 ,4 8 3
1 ,9 3 8 ,1 0 0
2 ,1 0 2 ,3 1 9
1 ,4 0 5 ,0 0 7
1 ,6 1 7 ,7 7 2
1 ,2 4 9 ,0 0 4
1 0 4fi 5 17
.
9 4 0 ,3 1 0
+ 5 .2
+ 1 5 .5
+ 2 9 .0
— 1.4
+ 3 .1
— 1 4 .3
— 1 2 .3
— 1 9 .3
+ 3 0 .2
— 2 1 .8
+ 1 0 .4
— 17 1
+ 1 5 .3
3 3 ,1 0 7 ,9 7 5
3 0 ,2 8 5 .8 0 2
1 5 ,8 0 9 ,0 0 9
3 ,3 8 5 ,6 0 9
3 ,9 5 .3 ,8 4 4
2 ,0 7 2 ,8 0 5
1 ,8 2 6 ,4 8 5
2 ,0 2 8 ,3 1 7
1 ,8 0 1 ,9 0 2
1 ,5 7 0 ,1 7 1
1 ,3 4 9 ,3 2 1
9 84 '.7 7 1
6 5 9 ,8 6 6
1 0 2 ,0 1 7 ,4 8 5
9 2 ,7 2 8 ,4 0 1
+ 1 0 .0
9 9 ,9 4 2 ,9 7 5
7 8 ,4 2 3 ,0 1 1
3 0 ,2 7 0 ,7 8 6
2 2 ,4 5 3 ,8 2 2
1 1 ,2 3 2 ,2 9 4
1 ,9 0 8 ,0 5 2
3 ,2 3 8 , 0 1 5
2 .4 9 8 . 4 4 0
2 .0 0 4 ,0 0 4
1 ,6 1 9 ,0 5 5
1 ,2 1 4 ,9 7 8
1 ,2 6 2 ,1 0 9
THE CHRONICLE
1 4 9 8
t o
T H E
T h e r e
a re
e v e n t s .
b e r
a
b y
th e
a r e a
t h e
c r o p
fiv e
o n
s a m e
d a te
t h e
1 9 0 7
a n d
r e s u lts
a s
t h e
th a t
fe e lin g
A t
t h e
p o r t e d
o f
in
p e r io d ,
B u t
t h e
S ta te s
c e n tr a l
K a n s a s ,
th e
w h o le
a c r e a g e
o n ly
o f
3
a re a
t e n -y e a r
m a te r ia lly lo w e r
a
a v e r a g e .
r e la t iv e ly ,o f
I n
N e b r a s k a ,
b e tte r
S ta te s
t h a n
in
t h e
h a r m
c o n d it io n .
I llin o is
1 9
M
a n d
I n
O h io
a n d
in
y e a r .
it
is
a s
a lr e a d y
2 2
I n d ia n a
p o in t s
a n d
in
s it u a t io n
th e
w h e r e
it
a s
a s
a
t h e
N o r th
n ig h t
t o
o t h e r
is
h a n d
d r o u g h t
w a s
in tim a te d ,
v e r y
b e lo w
la s t
y e a r ,
a m o n g
m a d e
g iv in g
a t
N o r th
a re
a
u n it
t h e
t h e
t h e
w ith
t h e
co u r s e
is
b e tw e e n
s o r t
fr o m
a
t h a t
th e
e x a c t
e q u a lit y
b e
fo r
c o n c e r n e d .
g iv e n
a n
t h r ift ,
T h e
a im
b la c k
th e
s u c h
a n d
o u t
a n d
is
a n d
ju s t ic e
t o
m e e t
n e g r o
t o
In
b e
fo r e g o in g
b e
w ith
th is
a s k
w a y
a re
t h a t
fr o m
M r .
fe a r
if th e
t o
o f
w ill
k e e p
in
a
a
b r ie f
im p a r t s
fe e lin g
s o m e t h in g
b y
g iv e s
t h a t
w h ite
w o r s e
a
u p
it
s u c h
S o u th e r n
t h e m
S o u th
S u c h
m a k in g
w h ic h
th e
t o
d is c u s s
n e w s .
t h o u g h t
in
t h e
s u p p o r t s
p o p u la t io n
o u t
t o fo r e
t h e
th e
a
th e
in
P r e s id e n t
it s
s o lid it y .
a v e r a g e
fis c a l
in te lli
p r o p e r
T h e
w it h
th e
F if
a d m in is te r e d
t o
r e m o v e
t o
a
n e w
w ill
8 0 0
t o
lik e ly
e m is s io n
o f
th e
t h a t
r e c a lls
C a n a l
C a n a l
t h e
th e
I t
a v a ila
b o n d s
b a n k s ,
o r
o r
b e
w e re
m a d e
t h r o u g h o u t
w ill
b e
t h e
e ffe c t e d ,
h a d
in
t o
b o t h .
t h a t
t o
p r o m p t ly
d e p o s its
in
n e c e s s a r y
d e p o s its
b e e n
T h e
in c r e a s e
T r e a s u r y
r e s o r t
o f
in
1 0 2 .4 3 6 8 .
b e c o m e
d e p o s ito r s
h a v e
d is tr u s t
a n d
r e d u c in g
s o o n
$ 4 ,5 0 0 ,0 0 0
b y
fu r th e r
w a s
is
u n c e r
s t a t e d , w a s
8 3 1
d e p o s it o r y
o f
o f
w e
c o n t in u e d
P a n a m a
th e
it
t h a t
b y
th e
p r e fe r e n c e
b o n d s .
c o m m u n it y
n e g r o e s
w h ite s , b y
s h o u ld
o t h e r
in d ic a t e s
b e
e d u c a tio n
e lig ib ilit y ;
fu r
th a n
th e
a n
r a c e
T h e
a n d
m e n t
w a s
m e ta l
P a r is
T a f t ’s
fe e lin g s
th a t
a n d
th a t
w a s
w ill
F r a n c e
th e
o ffe r e d
fo r
P a r is ; in
w a s
b e
b y
fo r w a r d e d
in to
in
th a t
th e
fr o m
th e
t o
A fr ic a n
L o n d o n
th e
N e w
B a n k ,
t o -d a y
a c c u m u la te
S o u th
a d d it io n ,
s h ip p e d
a b s o r b e d
g o
c o n tin u e s
$ 3 ,0 0 0 ,0 0 0
w a s
w h ic h
a r r iv a l,
o f
w e e k
b o u g h t
q u e s tio n s .
a t te m p t in g
B a n k
th is
c r u c ia l
a ll e x c e l l e n t ; y e t , i n
3 0 ,
t h o u g h t
t o
th e
o p e n e d ,
is
t h e
$ 1 0 2 ,8 0 8 ,8 0 0 .
s t e a d ily
it
it
o p e n s
d e g r e e
b id s
th e
S e c r e ta r y
r e p o r t e d
t o
t o
fr o m
o f
th e
o f
lik e ly
b u t
it
a n d
n u m b e r in g
a c c e p t e d
is
a
v e r y
a s
s a le , a s
v a lu e
a d d it io n a l
a re
is
b id s
w h ic h
fu n d s
N o v e m b e r
it
T h e
r e
H e r e
a c c o m p a n y
b id s ;
o n c e
p r a c t ic e ,
a n y
t o
b o n d s .
t o
t h e
d o o r
w it h
fr o m
T h a t
p r o c e d u r e ,
im p a r t
T r e a s u r y ,
c o u n t r y ,
a n d
it
th e
b y
S e c r e ta r y
t o
o w in g
b e e n
in c r e a s e
th e
a
th e
s u r r e n d e r s
w ith
b e tte r
o f
t h a t ,
o ffe r
s a id ,
a n d
r e a c h in g
p u b lic
a p p lie d
r a c e s , th e
lik e ly
d e fic it,
h e
t r u e ,
t o
e m in e n tly
w a s
fr e e
b u y in g t h e
h a s
s u m
b o n d s
a g r e e in g
p r o m is e s .
T h a t
lim it
a s
w a s
p u r c h a s e
la r g e ly
s u c h
s u c c e s s , th e
in
r e q u ir e d
b y
b y
a
P a n a m a
tr a n s a c t io n
s a y ,
th e
u n d e s ir a b le
b e
r a te
c a s h
t o
tr a n s a c t io n .
r u m o r e d
P r e s id e n t-e le c t
is
T u e s d a y
th e
c o n s id e r e d
t h e
m a te r ia lly
a
w o u ld
w h o le
b le
q u a lifi
t h a t
fa v o r itis m .
th e
a t
t o
m a k e
d e c id e d
o n
w a s
a s
c o u r s e
v e r y
a g g r e g a te
is
s h o w in g
u s u a l
a
t o
t o
p u b lic
b ills
m o n e y in t h e b a n k
t e n d
t a in t y
m a d e
th e
e s p e c ia lly
tr a n s a c tio n s
c e r ta in ly
t o
o f
a c c o m p a n y in g
d e p o s it
r e c a ll
n o t h in g
h e
o n
a re
T h e
p r o m is e
e ith e r
a n d
th e r e q u ir e m e n ts o f
s h o u ld
a n
r a c e s ,
S ta te
c la im e d , t h a t
e q u a lly
s h o w s
t w o
o u r
w e
t h a t
is
t o g e t h e r ,
tr e a t m e n t
a
C o r t e ly o u
r e s u lts
w h o s e
o f
b e
e q u a lly
t h e
e lim in a te d
s u g g e s tio n s
th e
im p a r t s
S u c h
a n d
m o r e
le s s
N o r t h
h u m ilia te
S ta te
o r
a
lik e ly
p o s t -o ffic e
m o r e
t h e
o f
m e a s u r e d
N o r th e r n
o f
o n c e
fu r th e r
th e
o f
th e
T h e s e
w h o
C o m in g
fr a m e d
o f
is
th e m s e lv e s
c o u n t r y
w h ite
is
t o
t o n e
F in a lly , h e
th e
t h e
I t
w o r k
s q u a r e
b e
n o t
w h a t
S o u th ?
p r e s c r ib in g
w h ic h
o f
s h o u ld
t h a t
s h a ll
in
(a s
r e m e m b e r
c o m p a c t u n it, a n d
w h ite
t o
m u s t
S o u t h
e x p r e s s
c o m p lic a t io n ;
h a r d
fo r c e
t h in g s ,
s h a ll
la w s
m o r a l
c h a n c e .
q u e s tio n
o f
d in n e r
G o v e r n m e n t
u n it e d
la w s
a n d
o p p o r t u n it y
th e r m o r e ,
e q u a l
b y
ir r it a t io n .
s o o n e r
t h a t
a
is
R e p u b lic a n
n e ig h b o r h o o d
th e
k in d
d o n e
s a t is fa c t o r y ,
d o o r
t h e
T o
a
a n d
o ffe r in g .
d e v o t e d
th e
fo r c e
S o u th e r n
S e c r e ta r y
m a r y
M o n d a y
it
e x p r e s s io n .
s u ffr a g e ,
t h e
o f
b e
o f
G o v e r n m e n t
c o n d it io n
t h e
t o
is
c e m e n ts
a
th e
it
in to le r a b le ,
th e
g a th e r
a n d
t h r o u g h
m e a n in g ,
c o m m u n itie s
t h a t
s e n tim e n t
tr e a tm e n t
Y o r k
S o u th
h y
th e
a
a n d
A m e n d m e n t
th a t
a n d
t h e
p o s s ib le
fo r
te e n th
w ill
h a v e
o f
p r e s e n t
it
c a tio n s
a s
t o
w a s
p e o p le
is
is
p o p u la t io n
c h ie fly
N e w
W
n o t
s a id ,
in te r p r e t a t io n
s a id
a n d
a n n u a l
s o lid
s e e m s
h e
a n x io u s
th e
t h e
c o n c e r n e d
m o s t
t o
u s
o f
w h ic h
lo n g e r .
W e s t
q u e s tio n s ,
o f
g e n t
w h y
a n y
W a s h in g to n
a r id
th o s e
w ill
S o c ie t y
a d d r e s s
r e a s o n s
a s
d o n e
a n
th e
a s
m a n y
t h e n
c o m m u n it y .
b e
r e a d e r
v e r y
p o lit ic s
it
a c t
s u c h
2 6 .
a t te n d e d
C a r o lin a
a n d
e x is t
T a ft
T h e
a n d
N o r th e r n
p o s t m a s t e r
w h ite
t o
w h ite s ;
v o t in g
lo n g
w o u ld
P r e s id e n t -e le c t
s o .
th e
a n d
tr a n s a c t io n .
th e
S o u th
in
a p p o in t m e n t
t h e
th e
t h e
w h e r e
s e n t e n c e ,
is
s a m e is t r u e ,
t h e
O n
a
a re
a
m u c h
a b s tr a c t
t h e
s u p p o r t s
c o lo r e d
in
a s
n o w
a s
o u r
o f
d e e p e r
p o in t b e lo w
T e n n e s s e e ,
a g o .
is
1
T h e
a n d
V a lle y ,
fu l,s h o w ,
o n e -fift h
c o m b in e d
c o n d it io n
a n d
M a r y la n d
y e a r
w ith
is s o u r i,a ls o , c o n d it io n
la s t
O h io
o v e r
t h e
O h io ,
a g o
T e x a s
a
a c r e s ,
a n d
th e
in
t h a n
c r o p s
a n
o f
fe lt
r e a s o n a b ly
c e n tr e
o f
a ll,
is
a
a ls o ,)
ju s t
t h a t
w e ll
is
t h a n
th r o u g h
a s
s h o r t
u s ,
d e e p e r
t o o ,
a n d
c o m e
r e a liz e ;
illu s tr a te
in d u c e s
n o t
s tr ik e s
t o
a ll
S ta te s
a p p o in t in g
n e g r o e s
t h e
s o
in
s e e m
e x is t e n c e
T o
illite r a te ,
n u m b e r
r e
r e c e n t
t h a t
h e
it
in v a r ia b ly
s e n tim e n t,
it s
E n g la n d
P r e s id e n t
th e
a
is
h a s
s o u r c e ,
w o r d s
S ta te s .
s e n tim e n t
is
s e v e r e ly .
o f
N e w
r e lie f.
o f
m o s t
e q u a lin g
y e a r
t h a n
P e n n s y lv a n ia
p a r tic u la r ly
in
a n d
t h a n
n o t
lo w
6 ,1 7 3 .0 0 0
o n
S till
v e r y
S ta te
a n d
S o u th e r n
t h in k
r e s u lt
a
s u ffe r in g
im p o r t a n t
N e b r a s k a
lo w e r
t h e
th e
o f
th e
w ith in
is
o f
th e
c o n d it io n
a s
t o
I t
e v id e n c e
th e
T h e
h is
g iv e s
o f
p r o b le m ,
it?
s e n tim e n t
r e a s o n in g .
o n
T h e
r a c e
o f
t h a n
a s
a c t
e x p e c t e d ,
o n e
w id e r
d e e p e r
a n
u n c e r t a in t y ,
w a s
a n d
th e
th a n
th e
b o t t o m
n o t
1 9 0 4 .
a n
lo w
y e a r ,
u p
m o s t
I llin o is ,
C a lifo r n ia ,
th is
r e g io n
th e
fo r
E x c h a n g e
e s p e c ia lly
p la n tin g ,
p o in ts
a c t u a lly
a n
s in c e
s o lv e
t h e
a s
9 2 .2 .
b e t te r t h a n
t o
fo r
9 1 .1
o f
o n e
a n d
fa c t ,lo w e r
c e r t a in t y
P r o d u c e
1 9 0 7 ,
c o n d it io n
y e a r
th e
a b o u t
a c r e a g e
m e a n
tr ifle
o f
y e a r
w it h
is , in
a n y
a
p r e v a ile d
w in te r -w h e a t
o f
in
o r
n e w ly
t h a n
fa ll
la s t
th e
t e n -y e a r
d a te
t im e ,
s o m e
D e c e m
M o n d a y
le s s
a c r e s ,
t h a n
a v e r a g e
c r o p
a
th e
in
a
t h e
s u b s titu te s
th a t
in d u s t r ia l
fo r
T h e
th e
c o m p a r e s
a re
o n
in
t h a n
T h e
r e p o r t e d
s a m e
d r o u g h t
le s s
a n d
c o n d it io n
le s s
8 5 -3
c o r r e s p o n d in g
t h e
w e e k ’s
fig u r e s
5 .6 %
2 9 ,8 8 4 ,0 0 0
m illio n s
a t
a s
p la n t e d
e x te n t
1
in
t h e
a n t ic ip a t e d .
s t a t e d
a re a
y e a r s .
D e c .
g e n e r a l
is
s o w n
s a m e
p r e v io u s
a
o f
th r e e -q u a r t e r
a b o u t
t h a n
h o w e v e r ,
e s tim a te
m a k in g
in
c o n d it io n
D e p a r t m e n t o f A g r ic u lt u r e o n
b e t te r
a r e a ,
r e v is e d
a s
t h e
S I T U A T I O N .
fe a tu r e s
w in t e r -w h e a t
lit t le
s e e d e d
a n d
fa v o r a b le
T h e
is s u e d
w e r e
F I N A N C I A L
[ V O L . L X X X V 1 1.
b u llio n
a n d
th e
(S a t u r d a y )
in s t it u t io n .
m a r k e t
$ 1 ,5 0 0 ,0 0 0
Y o r k
It
la s t
g o ld ,
c o n s ig n
o f th e
w e e k
t o
$ 3 ,9 0 0 ,0 0 0
w ill,
a p p e a r s
b y
o n
its
m a il
THE CHRONICLE
D ec. 12 1908.|
a d v ic e s
fr o m
t h a t
G e r m a n y ;
o f
n o t
L o n d o n
a
t h e
t o
t h e
T h e
R e ic h s b a n k
a g o
n e t
r e c e ip ts
in
n e t
g a in
t e n
fo r
a b o u t
o f
O c t o b e r
w e r e
m o n th s
o f
g o ld
t h e
in d ic a t e
£ 2 ,2 5 8 ,0 0 0 ,
th e
c u r r e n t
t iv e
m a k in g
b u t
y e a r
a n d
is
a
is
w h e r e
is
ju s t
t h e
n o t
h a v e
t o ld
t h a t
is
a n d
n o t h in g
it
is
E a s t ,
o f
t r u ly
I t
o f
in
w h a t
b e e n
W
M r .
t o
a
M o r g a n
fin d
e s t ,
fu ll
n o t
s u p e r la
t r ib u t e
t h e
w it h
is
t h e
g r a t ify in g
b u t
m e t
c o n fid e n c e
t r u e .
w h o le -h e a r t e d
a lw a y s
t h e y
p a n ic
th is
e s tim a te
a n d
a n d
in
t o
o f
r e a lly
d o in g ,
n o t
h a v e
o r d e r
w o r d
th e r e
I t
a n d
g iv e n ,
la b o r s
t h e
c a le n d a r
g iv e
w h o le -s o u le d
w a s
th e
t o
E v e r y
it .
d o n e
t h is
t h e
t h a t
in
h a s
o f
b y
t h e m ,
d is t r u s t .”
p a n e g y r ic ,
b a r s ,
B a n k
a c c u m u la tio n s
im p o r t s
t o
fr o m
c o n s is tin g
a n d
in
m in is te r
g o ld
a ls o
£ 4 0 0 ,0 0 0 ,
m e ta l
o f
th r o u g h
r e c e iv in g
b u t
c o in
t h e
r e p o r t
g o ld
B a n k
S ta te s ,
R u s s ia n
s t o c k
la t e s t
o f
F r e n c h
U n it e d
s o v e r e ig n s ,
a d d e d
F r a n c e .
is
th e
fo r t n ig h t
E n g lis h
w a s
o n ly
a n d
1 4 9 9
t h a t
t o
h im
w h e r e
h is
a p p r e c ia t io n ,
o f in e s t im a b le
v a lu e -
£ 1 4 ,0 5 4 ,0 0 0 .
A
c a b le
r e c e iv e d
a n n o u n c e d
o f th e
fo r
s ig n in g
th e
S a o
0 0 0 .
A
a n d
th e
lo a n
p a n ts
b o n d s
0 0 0
a re
t h e
t h e
th a t
b in d s
w h ic h
9 2 j/£ .
c o ffe e
b o n d s
$ 1
b y
n o t
J a n .
5 %
th e
1
fu r th e r
b a g ,
a n d ,
L o n d o n
S a o
e n g a g e
d u r in g
in
I t
a s
b y
a b o v e
s e v e n
$ 7 0 ,0 0 0 ,0 0 0 ,
a n d
a n
m illio n
in
e x p o r t
s t a t e d ,
s u r t a x
t h e y
a re
is
h a v in g
b r o q g h t
a r g u e d
t h a t
b e t w e e n
a b o u t
n o ta b le
M o r g a n
s u b s t a n t ia l
a n d
a t
a
A s s o c ia tio n
o n
W
w a s
t o
a ll
t r e m e ly
r o s e
e x p r e s s
w h ic h
h e
a s
liv e d .
s a id
H a ll,
th e
m a d e
o n ly
w a s
h is
h e
a
s u m m a r iz e
fe w
v e r y
b u t
to
d id
n o t
w h o le
w a n t
n o r
w ith o u t
a
t r ib u t e
p u b lic
g u e s t
o f
h o n o r
e s te e m e d
th e s e
o w n
n a m e
is
c ity
a
y o u r
o th e r
t o
t h e
t o
H e
fe e l
a n d
o f
w ith
p r o m o t io n
fo r
v a lu e
o v e r
a n d
s t a t e m e n t :
o f
t h e
a r ts ,
th e
e c o n o m ic
e x h ib it e d
in
c a p a c it y
b e fe ll
o u r
t o
t h e
a n d
o r g a n iz a t io n
fin a lly ,
m e e t
s u c h
c o u n tr y
a
s ir ,
c r is e s
y e a r
fo r
in
a g o —
M r .
M r .
y o u r
a n d
o f
s e a ,
t h e
t o
a s k in g
o f
d e r in g
m e n t
M o r
p le a
h im
m u c h
p a s s
C h ic a g o
M r .
o f
h is
H a ll
y o u
fo r
fa ir ly
t h e
c o n s id e r
w e ll
o r
c o u n t r y ’s
in
p o in t e d
a n d
w h e n
b e fo r e
a n d
o f
p r o s
g a in s a y in g
a re
M r .
ju s t ifie d
in
c o m m is s io n s
e n a c t in g
th e
r e g u
h e a d w a y
r a ilr o a d
r e t a r d
a n d
n o
in te r e s ts
t h e
h e
fir s t
r e s t r ic t iv e
t h e
a n d
T h e
p r o g r e s s
b e
p o lic y
g r o w t h
p lo w ;
s t o p
c a n
a ll
a n d
t h e
it s
r a ilr o a d
lib e r a l
t h e ir
a n d
t o
g r e a te r
e x p a n d in g
c o u n t r y ,
fu tu r e
T h e r e
t h a t
h a m p e r
fu r th e r
r a ilr o a d s
e x p a n d in g
t h e
in
r e n
d e v e lo p
b u s in e s s .
w o r ld
t o
a s
a d
a
t o
la s t
t e n d e d
m a tte r
o f
m e n t .
b y
a
H e
fa c t
r ic h
t h a t
s h o u ld
n o t
r a te
o f
in te r e s t ”
t h a t
4
is
fr o m
t h e
o f
w h o
c e n t
9
is
“ a
k in d s
fa r m e r s
o f
p e r
o n
c e n t
a re
m o r e
v a lu e
r a te
o f
o n
h ig h e r
c o u n t r y
v a lu e s
o f
c a n
in v e s t
o w n e d
t h a t
a
t h e
r a ilr o a d
a
“ fa ir
p r o p e r t y
in te r e s t ,”
in v e s tm e n t s .
th is
t h e
in te r e s t
t h e
t h e y
t h a n
o f
t h e
c o n
n o t
in
r a te
b a n k
is
o u t
e a r n
w ith
t h e
a re
g o o d
a
t h a t
it
th e ir
m e a n s
fa ir
o f
r ic h ,
o n
p o in t e d
p e r m is s ib le
in c o n s is t e n t
o t h e r
e x is ts
th e ir
c a s h
n o t
t o
a n d
M r .
t r e a t e d
s a v in g s
r a ilr o a d s
t o
t h e
le tte r
w a s
o n
fr o m
“ T r a n s
b e
s t o c k
r e tu r n
a ls o
in v e s t
u p o n
it
m e n ;
m e n
th e
H e
p e r m it t e d
p e r
r ic h
s m a ll
t h a t
m a x im u m
v e s tm e n ts ,
s ta te s ,
t h o s e
b e
t h e
a
t h a t
im p r e s s io n
fe w
th e s e
t o
is
a
o f
th is
r a ilr o a d
m a d e
M in in g
le t t e r
s h o u ld
o b t a in e d
t h e
b y
m e n .
o p in io n
I r e tu r n
s a id
I n
a n d
a
s u b je c t
r o a d s
o n
b e
b e c a u s e
T h e
in te r e s t
c a n
r e s t r ic t io n
fe w
th e
p o lic y
o w n e d
t h e
a ls o
A m e r ic a n
P it t s b u r g h ,
o n
d iv id e n d s
t h a n
t h a t
a t
t h e
P r o d u c t s .”
t h a t
a re
a
h e ld
M in e r a l
M r .H a r r im a n
B e fo r e
F r id a y
a r g u e d
lim it
r a ilr o a d s
s t a n d
g a t h e r in g
r a ilr o a d s .
in v e s tm e n t s .
a n d
a n d
o f
h ig h e r
h e n c e
g ig a n t ic
p u b lic
r e a d
a s
g e n iu s
t h e m ,
n e w
p o s t
s t o p
C o n v e n t io n
H a r r im a n
lib e r a l
g r a s p
t o
t h e
p o r t a t io n
a n d
p a t r io t is m
fo r
w a s
n o
H a ll
w h e r e
b u s in e s s
t h e
C o n g r e s s
M r .
p e o p le
o f
t h e y
s e r v ic e
A t a r e c e n t
a
fin a n c ia l
w is e
g o o d
o f
b u m p in g
r a ilr o a d s
c o u n t r y .
s e c o n d ,
u n n e c e s s a r y
la w m a k e r s
w ill
a
th e
t h e
g iv e
m o r e ,
t h e
c o u n
h e a r e r s .
h y s te r ic a l
a
o f
b u ild in g
n a t io n .
c o u n t r y
t h a t
a g a in s t
s tr e n g th
h is
t o
a n d
t h a t
s t a t e m e n t
th e
th e
la w s
p o lic y
e s te e m
c o n t r o l
t h a t
t o
M o r g a n ’s
t h e
t h e
n a tio n
t h e
c o -o p e r a t io n
a n d
e s s e n tia l t o
o t iv e ,
a
o t iv e ,
o f
t h e
v it a lly
a g it a t io n ,
a s
u p
t o
la t t e r
a
c o m m e n d e d
g r e a te r
p e o p le
t h e
b e
t o
e n a c t e d .”
w h a t
t o
a s s e r te d
in
lo c o m
a c t
t h e
a p
t h a t
r e g u la t iv e
b e e n
h o m e
b e
a n d
th e m s e lv e s
ju s t
is
F .
d e liv
C o u n t r y
fu r th e r
is
a n d
fa c t o r
t h e
lo c o m
c o u n t r y ,
w it h
in t e g r it y .
a n d
fo r
t h e
C .
d is tin g u is h e d
d id
“ W e
p h ila n t h r o p ie s ,, f o r
in d u s t r ie s ,
o f
p e o p le
th a n
lo n g
o c c a s io n
th e
le s s
p o w e r
t h e
in
C o m m e r c e ,
M o r g a n
le t
a s
m a n a g e d
o f th is
a n d
is
t h o u g h t
s h o u ld
p r o t e s t e d
r o a d s
Y o a k u m ’s
fin a lly
w o r d s
w h ic h
t h e
c o u n tr ie s
th is
o f
H e
t h is
w h o
d e c la r a t io n
h a v e
Y o a k u m
e n a b le
’s
fr o m
M r .
B .
p a r tic u la r
a d ju s t
w h ic h
t h e
“ O u r
g a v e
t o ,
M r .
e x
R ic h a r d
b u t
w is h e d
t h a t
n o t
a n d
n a t io n s .
M r .
h a n d
a c
is
o c c a s io n
p e o p le
c iv iliz e d
h e a r t y
t h a t ,
o r g a n -- w h o
M o r g a n ,
n a t io n a l
s e r v ic e s
s y n o n y m
c o n c lu d e d
o f
s e r v ic e s .
t h e
.
H o t e l
a n d
M
P
C h ic a g o
s im p le
s e r v ic e s
t h e
e m b a r r a s s
t h e
fe w
r e m a r k s ,
t o
J .
a c t iv it y
A s s o c ia t io n
t h e
o n ly
a
r .
t h e
g r e e te d
M r .
M r .
t h e
fa m ily
t o
o n
m a n y
h is
is
r e s t
c a n
t h a t
th e r e
b u ild in g
p r o s p e r it y
p e r it y
p a id
A u d it o r iu m
w a s
fo r g e t
b r ie f
n e a t ly
b y
M
e m b a r r a s s e d ,
in
n o t
o f
h a s r e n d e r e d , n o t
p r a is e ,
v is ib ly
v e r y
g a n
th e
h e
w e lc o m in g
P r e s id e n t
t o
w o r ld -w id e
th a n k s
w o u ld
I n
h im
t h e
a c c o u n ts ,
a n d
C h ic a g o
s p o n t a n e o u s
w h ic h
r e n o w n
o f
t r ib u t e
a t
S o
w it h
m o d e s t —
t o
h e
n ig h t .
n e w s p a p e r
h is
m e n
te n d e r e d
C o m m e r c e
o v a t io n
c o r d in g
w e ll-d e s e r v e d
b a n q u e t
o f
e d n e s d a y
th e
w ith
a
b u s in e s s
in
t h e
a
M r .
b e t te r
le g is la tio n ,
p o lit ic a l
g u a r a n te e d
a n d
o f
o f
lin e s ,
Y o a k u m
G o v e r n m e n t ,
t o
a s s is ta n c e
t h e
a
t h e
o r d e r
M r .
d o u b t
H e
la t io n s ,
s o lid ,
n o
fo r
o u t ,
B r a z il.
T h e
b e
t o
t h o s e
d oes
r e fe r r e d
r e m a r k s
M o r g a n
n e e d s
w ith
t h e
s u b je c t
r a ilr o a d s
n e e d ,
b a n q u e t
I s la n d - ’F r is c o
t h e
t r y
e s s e n tia l
T h e
o f
c a n
t h e
M r .
“ n o w
th e
c o m p lia n c e
th e
w h ic h
o n
s t a t e d ,
u n til
to w a r d
b a g s
E u r o p e .
is
c o m m e r c e .
t h a t
p r ic e
a d d r e s s
c o u n t r y
in
b o n d s ,
n o t e d
is s u e
o f
c o ffe e
th e
b e
t h e
o f
c it y
s e c u r e d
m a y
b y
v a lu e
fu r th e r
o f
,
w h ic h
g u a r a n ty
life
a n d
s e c u r e d
th is
in
t h e
1 9 1 9 .
in te r e s t
is
B r a z il,
R a ilr o a d s .”
it
a t
a p p la u d e d
R o c k
a n
T h e r e
a s s o
t h e
O u r
la w s
o f
$ 7 5 ,0 0 0
o f
e r e d
t h e
p a r t ic i
t h e ir
o f t h e
P a u lo ,
P .
$ 6 5 ,0 0 0 ,0 0 0
a n d
is s u e
v ig o r o u s ly
p r o v a l,
p u b
p o r t io n
E u r o p e a n
r e m a in in g
u n c o n d itio n a l
t o
e s tim a t e d
s to r e
o f
th e
o b lig a t io n
in
a re
p e r
t o
b e a r
o f
is
S ta te
w ith
u n d e r t a k in g s
T h e
c o ffe e
t h e
t h a t
J .
t h e
a re
Y o a k u m
C it y
a n d
in
e
M o r g a n
$ 7 5 ,0 0 0 ,
Y o r k
b e in g
o f t h e
W
8
S e n a te
N a t io n a l
N e w
T h e
t h e
o f
fo r
p a r t ic ip a t e
c it y .
o f
te r m s
it s e lf
e x te n d s
b o n d s
th is
T h e
o f
D e c .
F e d e r a l g u a r a n ty
lo a n
t h e
b o n d s ,
R o t h s c h ild s
b o n d s
v a lo r iz a t io n
o f
s t a t e d ,
P a r is .
B r a z il,
t h e
b a n k s
is
n e g o t ia t io n
p r o v id e
o f
d a t e d
B r a z ilia n
o f t h e
w ill,
fo r
t h e
v a lo r iz a t io n
c o m p o s e d
it
J a n e ir o
b y
P r e s id e n t
c o ffe e
$ 1 0 ,0 0 0 ,0 0 0
th e
in
is s u e s
th e
r e s e r v e d
in
c ia t e s
o f
d e
N a tio n a l
C o .
o ffe r in g
t h e
b y
P a u lo
F ir s t
&
R io
a u th o r iz a t io n
s y n d ic a t e
M o r g a n
lic
t h e
fr o m
I n
a n d
s u c h
r a te s
o f
1 9 0 0 ,
h e
r e c e iv e d
t h e ir
in
fa r m s
th e
in
150 0
THE CHRONICLE
t h a t
y e a r ;
y e a r
a
n e t
4
th e
n e t
r e tu r n
p e r
o f
u p o n
c e n t .
6
p e r
p e r
c e n t.
w h ic h
s u c h
c o u n t r y ,
iz e d
in
d r iv in g
a
c a p ita l
t h e
g r o w th
a n d
t h a t
w re
o f
th a n
c e n t .
fa c ilit ie s
I t
is ,
d e v e lo p m e n t
t h a n
t h e
t h a t
3
c e n t s —
p o is o n e d
s im ila r
J a m e s
J .
b e fo r e
th e
H ill,
in d u s t r y
t o
g r o w t h
M r .
r e a liz e
a n d
th a t
s u c h
a s
t o
d e v e lo p m e n t .
th e
a g o ,
w h e r e
t h o u g h t
w a s
t h e
a d d r e s s
m a d e
C h a m b e r
in c id e n t
c o n fr o n t e d
p r e s s iv e
r e la te d
y o u
a
o n
r is in g
w ith
a
flo o d
o f
T a c o m
P o r t la n d
B u ild e r ,”
t h a t
th e
h e
a n d
a lo n g
t h e
m o s t
e n t h u s ia s t ic
N o r th
h e
w e re
h a d
s e tt le m e n t
th a t
s p e e c h
b e fo r e
s u b je c t
o f
a g a in s t
th e
a n d
e v e n
t o
4 0
fa u lt .
W
m e n t
u p
t o
5 0
d iv id e
4 0
r o a d s
s t o c k ,
o r
th e
a n y
5 0
o r
U n ite d
1 0 0
c a n
o p e n
w e
lik e
a n d
a
th e
t h a t
w e
c e n t .
c o t t o n
W
th e
in
a ll;
o f
a n d
it .
if
y o u
B u t
h a v e
h a v e
th a t
o f
m o v e
a n y
y o u r
w ill
is s u e
w ip e
y o u r
T h e r e
w h a t
h ir e ,
p a y
is
is
t o ld
y o u
w it h
a t
h im .
c e n ts
in
t h e
r e s u lt,
fr e ig h t
o f
o n
fa r m e r ’s
a
a
it
a t
d is p o s e
p u b lic ;
g r e a te r
o ff.
u s e ;
a re
t o ld
b e e n
y o u
n o t
t h a n
r u n
r e c e iv e r
e x t e n t
y o u
a n d
c a n
it ,
a n d
t h a t w ill
a re
w h e n
t o ld
y o u
h in te d
a s
a
th e
M r .
H ill
t o n
o f
G r e a t
c o u n tr y
w a g o n
a n d
r o a d
te n
a ls o
w o u ld
y o u
y o u
le ft fo r th e
a n d
t o
O n
th e
b e
w o u ld
a
a
c e n t s —
a d d e d
w e
h a v e
y o u
h a v e
c a m e ,
fo r
in
h is
n e ith e r
a ll
b u t
th e
w e
g iv e
o n e ”
q u e n t ly ,
h im ;
a c r e
o f
th e
t o n
lo a d
fa ir
fo r
o f
a
d a y ’s
w h o le
p o u n d s ,
o f
a r e a
J u n e ,
th e
fig u r e d
T h e
d e ta ils
in
t h e
t h e
T h a t
t h e
1 9 0 8 -0 9
o f t h e
y ie ld
it
w a s
in
a c c o r d in g
p o u n d s
a s
a v e r a g e
S ta te s
p o u n d s
o u t ,
a n d
g ro s s
r e p o r te d
is ,
c o n s e
w h ic h
1 8 7
th e
p o u n d s
M is s o u r i
a n d
T e x a s
o f
t h e
is
o v e r
o f
y ie ld
o f
5 0 0
lb s .
2 ,4 9 0 ,0 0 0
c o u n t r y
t h e
o f
th e
D e p a r t m e n t ’s
a n x ie t y
a s
t o
1 9 0 8 -0 9
s o n ’s
fo r
th e
s e a s o n
lin te r s
a n d
o f
a re
(w h ic h
m o d e r a t e ly
W
e
n o t e
a
a u g m e n t
e s tim a te
fo r
la s t
s e a s o n .
I n
ju s t ic e
m a te
o f
t o
th e
t o
a s
y e a r
la s t
is s u e d
th e
t o t a l
b a le s
o f
lin te r s ,
o f
a t
th is
t im e
p o u n d s ,
a s
p o u n d s
w it h
c o m m e r c ia l
1 1 ,5 8 1 ,8 2 9
c r o p
a s
th e
p o u n d s ,
g r o s s ,
o r
b a le s
c o m p ile d
a n y
b a s is
u p o n
w h ic h
it
w a s
t h is
b e
c o n fo r m e d
a lt h o u g h ,
T h e
fo r
e s ti
B u r e a u ,
g iv e s
lin t e r s .
lik e
la s t
d is c lo s e d
t o
fo r
m u s t
y ie ld
fo u n d
A d d
1 1 ,7 4 5 ,3 0 0
p o u n d s
u s
p lu s
n e e d s
a
e q u a lin g
b y
E lli
c o t t o n
a ll
t h a t
it .
C e n s u s
o f
M r .
D e p a r tm e n ts
y ie ld
a g o
a n y
s e a s o n
s u p p lie s .
1 9 0 7 -0 8 ,
4 8 7
T h e d iff e r e n c e o f 1 6 4 ,0 0 0 b a le s h e r e
fu r n is h
o f
in c lu d in g
b y
th a t
in d ic a t e d ,
th e
o f
t h e
m e e t
r e s e r v e
y e a r
n o t
r e p o r t e d
a s
e x c e e d in g
a
w h o le
N o w
fo r
d is c r e d it
c r o p
b a le s
a g a in s t
t h e
D e p a r t m e n t
s lig h t ly
in c r e a s e
A m e r ic a n
w ill
e s tim a te
c o m m e r c ia l
5 ,7 1 0 ,0 0 0 ,0 0 0
5 1 0 .0 3
c o m p a r e s
t h e
y e a r ’s
c u s t o m ,
5 ,5 8 1 ,9 6 8 ,0 0 0
in g
t o
th u s
t o
U n le s s
o f
c r itic is e
a n d
t o
p r o m u lg a t e d ,
c r o p ,
e x is t in g
t o
o f
e x p e c t e d
fo r
s u p p lie s
in c lu d e d ),
w o r th y
b a le s ,
a lla y e d .
lo w , th e
n o t
is
b a le s .
b e e n
o f
b e e n
t e n d e n c y
t h a t
h a s
r e d u c e d
m a te r ia l
1 ,4 2 7 ,0 0 0
g a in
1 ,2 4 2 ,0 0 0
r e q u ir e m e n ts
t o o
a re
a t
y e a r ,
e s tim a te
e n tir e ly
p la c e d
in d ic a t e d
h a v e
t h e
d u e
is
th e
e s p e c ia lly
I t
(3 ,9 1 7 ,0 0 0
o n ly
la s t
a n d
c r o p
in
T e n n e s s e e ,
t h a n
th is
is
tim e .
c r o p
m o d e r a t e ly
t o
fo r c e ,
y e a r
th is
b e in g
G e o r g ia
is
s u ffic ie n c y
s h o u ld
t h e
la r g e r
th is
is
e s tim a te
th e
e s tim a te
e x c e s s
w e ig h t
a t
a t
O k la h o m a .
1 9 0 7 -0 8
b a le s ),
s t a n d in g
t h a t
a c c o r d in g
w h ic h
g r o s s
c le a r ly
th is
A r k a n s a s ,
a
fo r
a n d
a g o
T e x a s
h a n d ,
t h a t ,
T e x a s ,
fa c t
fr o m
o t h e r
t h a t
in
in d ic a t e
S ta te s
y e a r
e s t im a t e d
p r e d ic t e d
h o w e v e r ,
th e
a
th e
fo r
D e p a r t m e n t , t h e
s h o w
o f
t h e
fo r
n o t e ,
o f
M is s is s ip p i,
lo o k e d
O n
m o s t
b y
A la b a m a ,
in c r e a s e
e s t im a t e
D e p a r t m e n t ’s r e p o r t in g
c o n s id e r e d
d e m o n s t r a t e d
C a r o lin a s ,
th e
o f
t h a n
is
o f
o p in io n
p r o m is e
b e tte r
t o
C r o p
A g r ic u l
in d ic a t e d
1 7 4
h a v e
t h e
t h e
p la n t e d ,
t h e
d a y ,
c u r r e n t
0 ,1 8 2 ,9 7 0 ,0 0 0
5 0 0
U n it e d
a g a in s t
y ie ld
o f
o f
o f
t h a t
p r ic e s
b y
e q u iv a le n t ,
b a le s
t h e
la s t
fo r
y ie ld
th a t
c o r r e s p o n d e n ts
S ta tis tic s
1 2 ,9 2 0 ,0 0 0
b a s is
h o w e v e r ,
o n
o f
u n d e r
t h e
D e
p u b lic
v a lu e s
lit t le
o f
lin t e r s ),
t o
t o
c o m p ile d
r e p o r ts
o f
m a d e
1 9 0 6 -0 7 .
t h a t
a
a s
in c lu d in g
e s tim a te
c lo s e ly
s h o u ld
t h e n ,
B u r e a u
A g r ic u lt u r a l
th e w o r ld o n
a
p r o b a b le
1 9 2 %
1 9 0 7 -0 8
o f
b e in g
S in c e
is
t h e
t o n e
a
th e
p e r
c o n t r a r y
c a n
p a y s
A
fa ir
b e
a n d
fir m e r
m a r k e ts
D e p a r t m e n t
p r o d u c t
in
t h e
B o a r d ,
w e ig h t.
b y
o f
(n o t
th e
a
fr o m
D e p a r t m e n t ,
y o u
r a ilr o a d s
m ile s
R y .
c o p p e r
H ill
1 9 0 8 -0 9 ,
e s t im a t e ,
B o a r d
a g e n ts
t o ld
t h a t th r e e c o p p e r
t e n
N o r t h e r n
m ile s
a r e
d is c h a r g e
w h a t
s a id
fr e ig h t
y o u
w h o m
c a n
t o
o n l y p r i v i l e g e t h a t is
b ills .
s o m e tim e s
u s e ;
a b o u t
w e
o f
o f
a n n o u n c e d
T h e
R e p o r t in g
a c c o m m o d a t e
a
a n
le a d in g
a s
g e n e ra l e x p e c t a t io n .
e a s e d
a d m it t e d
g u a r a n te e d ,
n o t
m o v in g
d iv id e n d s
t o
r u n
c a n
d o
a s t o
a p p o in t
c e r t ific a t e s
le a s t
T h e
th e
w ill
a p p lia n c e s
y o u
h a s
t o p a y
c o u r ts
h o u r s
th e
is
y o u
r e g u la r it y , s o
r a il
y o u r
r a ilw a y ,y o u
s e r v e
t h a t
I f
a
m a k e
r u n
n o t
y o u
a n y
th e
c a n
in
it ,
in v e s tm e n t .
m u s t
a n d
it
t o
r is k
b u s in e s s .
n o th in g
w h a t
o b lig a t io n
w ith
r e c e iv e r s ’
o u t
b u s in e s s
in v e s te d
b u s in e s s
o th e r
th e
t h e
h a v e
a n
a
t r a in s
b u s in e s s ,
lik e
y o u
ta k e n
th e
• a n d
n o t
u n d e r ta k e n
y o u
a re
d o
w h e n
d iv id e
le g a lly
n e e d
s a id ,
e s ta b lis h
y o u
o r
m a d e
h e
fin d s
in
w e e k ,
im p a r t e d
L o u is ia n a
d a y ,
t h e
G r e a t
t o
t h a t
c h e a p e r
e s tim a te
d e c lin e s
t w e n t y -fo u r
d a y
fin d
w a te r
s e a s o n
is
e s t a b lis h m e n t
o n e
a n d
t h e
e d n e s d a y ,
s ta p le
c r o p
fo r
p r o d u c t io n
m a n u fa c tu r in g
o r
T h e
M r .
b e fo r e
a
h e a v y .
c a n
B u t
a n d
t h e
c a n
Y o u
o n e
n ig h t .
a m o u n ts
th r e e
e
th e
h a d
t h e
b a n k ,
w e
t h a n
“ W
n o r
y o u
A t
fr e q u e n t ly
a
a ir
s a m e
fr e ig h t.
d is c u s s e d
n o b o d y
d iffe r e n t.
th e
s e r v ic e s
S ta te s .
s o
a n d
in
a ll
“ E m p ir e
m a n u fa c t u r in g
p e r
is
g r e e te d
b e
c h a r g e
c e n t ,
fa c t ,
c u lt iv a t io n
C h a m b e r
p r o fit s
s itu a tio n
t o
o f
fa s h io n .
b e t te r
T h e
s t a t e d .
e x p r e s s io n s
w o r d s
a
s ta r t
e x
“ E m p ir e
I n
w a s
t h e
e
W
p e r
m ig h t
S e a ttle .
u p
th e
a s
d e s c r ib in g
th e
d iv id e n d
t o
e
a n d
o f
S e a ttle
r a ilr o a d s .
a n y
b e s t
s u d d e n ly
w e
fu ll o f
b e
o p e n in g
p a r t
th e
w a te r e d
e a r n
a s
in
a s
h a ile d
a n d
w e e k s
E m p ir e -B u ild e r ,”
b e in g
C o a s t
fa s h io n ,
a p p e a r s
c o n t a in in g
a ls o
a t
I t
M r .
m o n t h
t w o
w a s
P o r t la n d ,
lik e w is e
u s e d
s p e a k
b y
la s t
c o lu m n s
J . H ill—
p a p e r s
P a c ific
r e n d e r e d
t o
a t
w a s
P o r t la n d
e ffe c t ,
B u ild e r ”
n o t
h im
C o m m e r c e .
lig h t
“ J a m e s
a ,
b y
t h e
d iv id e n d
le s s
lo a d
t h a t
p a r t m e n t
tu r a l
d e v e lo p e d
th e s e
H ill
a t
a t
o f
in
M r .
d e c la r a tio n
o c c u r r e d
t o
in
o f
S e a ttle
th a t
B u t
lin e
little
th e
h ig h w a y s
p o u n d s
A
a
th a t
c h a r a c t e r is tic
t h e r e b y
c o u n t r y .
b e
r e tu r n e d
R a ilw a y ’s
m o v in g
o f
r e a l
p r o m o t in g
b e g in n in g
s h o u ld
h e
r a ilr o a d s ,
fu r th e r
o f
b e lo w
n a tio n a l
t r a n s p o r t a t io n
ju s t
th is
g o n e
if
N o r th e r n
a v e r a g e d
a c t iv it y ,
c o u n t r y ’s
r e t a r d
s c a r c e ly
t h e
th e
fr o m
a re
t h e
p e r
h u m a n
t h e
w a s
w o r k
t h e d iv id e n d s
th e s e
lo w e r
d e v e lo p m e n t
u r g e d
r a th e r
o f
r a ilr o a d s
t r a n s p o r t a t io n
a id
in
s a m e
a v e r a g e
a v e r a g e
c o n fin e
r e tu r n
t h e
t h e
h a v e
y e a r s
1 0
t o
fr o m
t h e
th e
fe w
a g e n ts
o f
y e a r s
S ta te s
a v e r a g e d
r a te
p o s s ib ilitie s
t h e
h a s
s e e k
a w a y
fo r t y
la s t
d e p a r tm e n ts
p r e v e n tin g
t h e
y e a r
e s s e n tia l
a n d
H a r r im a n
U n it e d
t o
t o
o th e r
th e
t h e
in
w h ile
in v e s tm e n t s
la s t
h a v e
u n ju s t
e n jo y e d
c e n t ,
th e
n o
d iv id e n d s
a re
in
I n
p e r
r a ilr o a d
D u r in g
t h e r e fo r e
t h e
1 9 .4
th e
b a n k s
c e n t .
b a n k
o f
D u r in g
n a tio n a l
8 %
m a n u fa c tu r e r s
r e tu r n
[VOL. LXXXYII.
n e t ,
w h ic h
w e ig h t ,
th e
S e p t e m b e r .
is t o o
s m a ll
c r itic is m .
D
C o n s id e r e d
r e p o r t
o n
is s u e d
g in n e d
o f
h a v e
th e
D e c .
1 —
a
s a m e
1 9 0 5 .
g in n in g
a m o u n t
S o u th
O k la h o m a
,
in
a n d
th e
a fte r
o n ly
2 3 %
a n d
r e p o r t
6 %
T e x a s
,
in
2 0 %
fo u n d
o f
t in u e d
in
m o r e
cr e a s e
s o
th e
b e in g
fo r
t h e
r e c e n t
A d m it t in g
o n
y e t
a s
t o
w id e
ch e a p n e s s
fa c t o r
o f
in
a r r a n g e d
a
G r e a te r
in
la n d
B u t
is
th e
th e
s e a s o n
c o v e r in g
tu r n s
o th e r
th a t
1 9 0 8
b e e n
t o
o f
C h ic a g o
fo r
a
a g a in s t
o n ly
in c r e a s e
o f
m o n t h ’s
a g g r e g a te
w e r e
w h ic h
t o t a l
1 3 3 .5 % .
fo r
I t
th is
o f
s e c u r e d
w e
c itie s .
w o r k
$ 2 5 ,6 1 2 ,8 3 6
r e m a r k s
m u n ic ip a lit ie s
im p o r ta n t
c o n s tr u c tio n
is
T h e
o f
is
th e
v a c a n t
th e
p a y
la n d
t a x e s .
u n u s u a l
is
a ls o
y e a r
a t
a d d e d
fo r
in
o f
m o n t h
b e
r e s u lts
fo r
s h o w s
N o v e m b e r
$ 5 9 ,7 9 7 ,9 4 4 ,
o f
1 9 0 7 ,
n o t e d
w e ll in
r e
“ A m e r ic a n
c o m p ila t io n
t o
is
c o u n t r y ,
th e
o r
t h a t
e x c e s s
o f
t h a n
9 1 %
.
m o r e
t h e
e x
F o r
o v e r
in
in
o u t
th e
la s t
is
M a n h a tta n
lo s s
13^ %
fr o m
,
la s t
th e
t o t a ls
a n d
$ 8 9 ,
o f
w e s t
t h a n
7 3 %
o f
a n d
1 7 7
ta il,
s u ffic e
g a in
in
O n
v io u s
th e
t e n
m o n t h s ,
m o n t h s .
th e
in
s e c tio n s
w e
fo r
fo r
4 6 7 ,4 5 0 ,
1 1 5 %
S a lt
S e a ttle
in to
c itie s
t o
a re
d e
r e c o r d
7 3 5 % .
a s
a
b u ild in g
le a d in g
lik e
a
w it h
id e a
fa lle n
o f
a t
fo r
o f
o ff
r e p o r ts
y e a r
c itie s
n u m b e r
fa ir
o u t la y
th is
c o m p a r e d
fr o m
a t
w ith
a t
a t
fu r th e r
o t h e r
w h e r e
h a s
im p r o v e d
m o n th s
9 3 6 .6
e x h ib it e d
5 0
a
g a in
C o n t e m p la t e d
e le v e n
g o in g
a re
la s t ,
1 8 7 .6
r u le
o p e r a
t h e
o r
a
1 9 0 6 ,
th e
d e c r e a s e
w a s
fir m
n o t
p a s t
5 0
th r e e
c itie s
o n ly
$ 5 1 7 ,9 2 2 ,4 1 8
1 9 0 7 ,
e x t e n t
1 9 0 8 ,
a g g r e g a te d
o f
N o
p r e
t h e
in
t h e
fo r
t h e
fo r
d e c lin e
th e
o f
is ,
fo r
$ 4 6 0 ,
c o r
1 1 .1 % .
o f
c o u r s e ,
g r e a te r .
T h e
w a s
t o
a n
th e
t h a t
m a r k e t
t h e
t h e
c a s e
fo r
m o n e y
la s t
b a n k s
w e e k ,
t h r o u g h
lo w
r e s e r v e
s ta te m e n t
w a s
a ls o
t o n e .
b e e n
P a y m e n t s
a llo t te d
a b le ,
b u t
b e
it
t o
fa c t o r
e x p e c t e d
w e e k ,
o f
b y
la s t
C a n a l
th is
t h a t
t h e y
d e a le r s
t o
w e r e
a m o n g
T h e
o ffic ia l a n n o u n c e m e n t
n o t ific a t io n
a c c e p t a n c e
w h ic h
m e n t
o r
p a y m e n t
fo r
th e
t h r o u g h
c a s h
p u b lic
o f
w o u ld
b e in g
‘ in flu e n c e
th e ir
w o u ld
b o n d s
th e
b e
b e
c o u ld
d r a w n
t h e
m a d e
fr o m
in fo r m e d
m a r k e t
o f
r e q u ir e d ;
b e
w a s
a n d
th e
o f
n o t
b e
o f th e
th e
in
t h e
e x e r t e d
o ffe r in g
o f
u p o n
s e t t le
c a s e
th e
w it h o u t
th e
fa c t .
b y
t h a t
la r g e s t
d e p a r t m e n t
e ith e r
b a n k s
h e a v y ,
d a te
th e
h a d
t r a c e
b id d e r s
th e r e fo r e ,
t o
fir m
fa c t
t h e
s u c c e s s fu l
a n d
S u b -T r e a s u r ie s
d ir e c t ly
u p o n
b id s
t h e
t h a t
t h e
t h e
o f
t o
w o u ld
o w in g
p r o v id e d
th e
c o m
b a n k
w e re
s u b s c r ib e r s .
fo r
t h e
b o n d s
w e e k
a s
lo s s e s
w e e k ’s
c o n t r ib u t in g
e ffe c t e d ,
o w in g ,
m a te r ia l
o p e r a t io n s ;
in d ic a t e d
P a n a m a
b o n d
th is
e v id e n c e s
s u b s c r ib e r s
w a s
a n d
a
fo r
p r o m p t ly
s y n d ic a t e s
t o
T r e a s u r y
p a r a t iv e ly
;
E v e r y
a g g r e g a te s .
a c t iv it y
t h e
O r e .,
a n
5 9 %
r e tu r n s
t h a n
e x p e n d it u r e
t w e n t y
r e p o r ts
1 2 0 % .
y e a r
o f
o u t la y
D e n v e r ,
w h ic h
t h is
r a n g in g
r e tu r n s
b u ild in g
w it h s ta n d in g
fr o m
d e c lin e s
r e s u lts
t h e
L o u is
a s h in g t o n ,
th e
u n im p o r t a n t
S t.
1 2 0 % ;
it h o u t
1 0 0 % —
h a n d ,
w it h
w h ic h
W
t h a t
g a in
P h ila d e lp h ia ’s
P o r t la n d ,
g e n e r a lly
c o v e r
W
in c r e a s e d
s a y
o f
p h e n o m e n a l
a g o ;
a c t iv it y
a t
t o
C o m b in in g
t o
o f
it
a n d
v e m b e r
a n d
S p o k a n e .
o t h e r
s m a ll,
t io n s
a t
y e a r
M is s is s ip p i
3 6 2 .7
e x c e s s
t h e
,
g r e a te r
C it y ,
a
a
y e a r .
P it t s b u r g h ,
7 1 %
p e r c e n t a g e
L a k e
;
t h e
s h o w s
th is
a
a c o m p ila t io n
t h e
e x p e n d it u r e
th e
is
b y
h a v e
a r r a n g e d
fo r
c it y
in
c o n t r ib u t in g
p r e s e n t
g r e a te r
O r le a n s ,
a n d
fo r e g o in g
t o
o f
m a k in g
g e n e r a l
a t
F o r
s o
B o r
c o n t r a c t s
$ 8 7 ,8 3 4 ,0 9 2
e x h ib it s
m o n t h
w ith
s e c t io n s
it
1 1 0 %
in c r e a s e
N e w
lik e w is e
th e
C o n tr a s te d
e x p la n a t io n
m a k e
in
c o m p a r e d
la b o r
a t
c a r r y in g
y e a r
t h a n
t h e
1 1 1 .5 %
g a in s
r e d u c e
in
c o u n
c la im s
m o r e
in
th is
le s s
r e s p e c t iv e ly ,
p e r io d
y e a r .
w h ic h
a n d
o f
b e in g ,
t o
t o
th e
I n
B r o n x
r e c e n t
th is
1 0 1 ,2 7 9 .
r e s p o n d in g
c o n s t r u c tio n
t a x a t io n
t o
o r
d is p la y e d
th e
th e
o f
a s
r u l
in c r e a s e
g r e a t
fo r
h e a v y
o f
8 1 %
Q u e e n s
O f
fa v o r a b le
B r o o k ly n ,
a n d
m o n th s
r e c e n t ly
s u p p ly .
o th e r
n e c e s s ity
th e
b e e n
lo w
p la u s ib le
e x c e s s iv e
s p e c ia l
h a s
M o r e o v e r ,
b u ild in g
in
lu m b e r ,
t h a t
h a v e
s till
T h e
im p o r t a n t
B r ic k s ,
a g o .
fu r th e r
b e e n
11
o r
y e a r ,
b u ild in g
o b t a in e d ,
fir s t
e x p e n d e d
in
2 0 8 .2 %
s u ffic ie n t ly
th e
Y o r k
r e q u ir e d ;
th e
c it y
c o n c e r n e d .
b e
F u r th e r m o r e ,
fo r
a ffa ir s
s itu a tio n
e v e r y t h in g
a b u n d a n t
o f
c o u n t r y .
h a v e
a n
a
g e n
e v id e n c e .
v a lu e s
p r o d u c t iv e
le a d in g
4 0
c a lls
in
th e
th e
t o
b e e n
a re
fo r
a c c o u n t
t o
o f
m a te r ia l,
t h e y
a p p lie s
th e
fo r
91
fr o m
is
a
a c t iv it y
C o n t r a c t o r ,”
5 1
fa r
o f
m o r e
c la s s
a s c r ib e d
s o
c a u s e s ,
b a s is
y e t
c o n s e q u e n t
w a y
th e
O u r
w a y
t o
p r e v io u s
o p e r a t io n s .
a lm o s t
m a k e
in d u s tr ia l
in
d o u b t
s p e c ia l
t o
o f
is
t o
b e
b e e n
c o n s p ic u o u s ly
fo r ;
w ill
m u n ic ip a lit y
h a v e
t h e
a
a g o
g a in
y e a r
in
g a in s
p r e v a ile d
s e e m
th e
t h o u g h
m o n e y
w h a te v e r
la te
a
1 1 3 .4 % .
g r e a t
t h e
o f
g iv e n
n o w
n o
a n d
h a r d ly
I t
a n d
s o m e
a n d
Y o r k ,
t h a t
c o u n tr y .
n o t
fr o m
fa c t
th e
c e r ta in
N e w
o ffe r e d
in
m o n th s
a n d
in
y e a r
w h o le
h a n d
a
o th e r w is e
q u a r te r s
d o e s
h a s
lo w e r ,
a g a in ;
p le n ty
in
a n d
r e q u ir e
th r e e
s p u r t
a
is
fo r
a r r a n g e d
le a d in g
N e w
is
e a r lie r
a p p r o a c h e s .
h a v e
$ 6 ,7 0 5 ,4 2 4 ,
1 9 0 7 ,
r u le
p h e n o m e n a lly
th e
g a in
M a n h a t t a n ,
w o r k
a ll
y e a r ,
t h a t
g e n e r a l
a c t iv it y
s t im u la t in g
h a r d e n e d
is
in
c h a n g e
th e
d e c id e d ly
w ith
o f
A s
o f
a n y
w in te r
g a in
G r e a te r
t h e
a lm o s t
ca s e s
t h e
im p e tu s
m a n y
th e r e
m a te r ia l
c e m e n t,
b u ild e r s
in g
a
o f
d iffic u lt
a c t iv it y
o f
c o n
h o w e v e r ,
F r o m
im p r e s s io n
c lo s e
w h ic h
fo r
t h e
o f
t h e
e x p e n d it u r e
c e r t a in ly
o f
o n
O c t o b e r ,
m a n y
in e r tia
in
o f
r e p o r ts
th e
is
S t a te s ,
t e n d e n c y ,
v e r y
th e
I t
b u s in e s s
w a r r a n t
s te e l,
g iv e
a t
in c r e a s e ,
a s
in
p h e n o m e n a l
t h a t
th e
a s
t o
th e
c o m e
c o m p a r a t iv e
e ra l e r e c tio n
is
a s
U n it e d
d e c id e d .
a n d
o f m o n th s .
t h e
w ith
c o u n t r y
m a d e ,
th e
d e v e lo p m e n t s
m o r e
o p e r a tio n s ,
n u m b e r
fo r
a n d
m a r k e d
e ffo r t
u p
o f
in
n o ta b le
N o v e m b e r ,
g e n e ra l
s e c tio n s
a re
th e
in
I t
b e e n
r e tu r n s
o f
lo c a lit ie s .
N o v e m b e r
is
c o n s t r u c tio n
in
r a tio
p e r c e n ta g e
3 9 2 %
B u ild in g
o n e
a s
a s
in c r e a s e s
r e s u lt
r e p o r t e d
1 5 5 3 .
w a s
t h e
h ib it
w h e r e a s
b e
t r y ,
d im in is h
t h e
p r o b a b ly
u s u a lly
w h ic h
m a n y
t e n t io n .
a n d
h a s
fr o m
w it h
v e r y
d e n o te s
t h e
t o
r e c o r d
t h a n
D e p a r t m e n t
w ill
6 6
1 9 0 6 ,
it
c itie s
y e a r ,
in
a b o u t
in
T h e
9 1
o u g h
G e o r g ia
a s
o p e r a t io n s
t h e
e x t e n t
7 5 .5 %
1501
N o v e m b e r
fa r
8 2 .8 %
in
fo r
e s p e c ia lly
s e a s o n
a c t iv e ,
1 0 % ;
d a t e .
g in n in g
b u t
a n d
D e c .. 1
C a r o lin a
it
p r o c e s s
h o w e v e r ,
a p p a r e n tly
t h a t
a n
t h a t
u n ifo r m ly
A r k a n s a s
o n
1 9 0 6
S t a te ,
b e e n
s u c h
a g a in s t
in
g in n e d
N o r t h
u n g in n e d
e s tim a te
b y
c o r r e c t ,
p ic k in g
t o
w a y —
in
a n d
c o m p a r a t iv e ly
t h r o u g h
7 7 .2 %
b e in g
a n d
3 0 %
r e m a in e d
p a g e
8 %
g o n e
b a le s
1 9 0 6
D e p a r t m e n t ’s
c r o p ’s
g in n in g
t h e
b e
C a r o lin a
A la b a m a
o f
n o t
t o
in
th e
a ls o
in d ic a t e s
8 ,8 4 3 ,3 9 6
fa v o r a b le
h a d
1 ,
1 1 ,0 1 0 ,8 6 4
a p p r o x im a te ly
S ta te
h a s
r e m a in in g
o n ly
v e r y
b y
I t
b e e n
th e
1 9 0 7 ,
C o m p a r is o n ,
th a t
a n d
in
h a d
th a t
w o r k
D e c .
1 0 ,0 2 7 ,8 6 8
a s
w h o le
e s t im a t e , t h e
t o
A c c e p t in g
th e
r e c o r d ,
d a te
c r o p
in te r e s t.
a g a in s t
y ie ld
o f th e
o f
1 9 0 7 ,
th e r e fo r e ,
fa c ilit a t e d
th is
g in n e d
th e r e
1 9 0 5 .
a n d
th e
in
in
m a tu r ity
8 5 .2 %
1 ,
o f
t h e
s e e m ,
e a r ly
b e c o m e s
D e c .
b a le s
e s tim a te
b y
t o
w ith
c o t t o n
lin te r s ,
p e r io d
8 ,6 8 9 ,6 6 3
w o u ld
o f
w e e k ,
s a m e
t h a t
c o n n e c t io n
e x c lu d in g
b a le s
th e
t o
in
a m o u n t
th is
t h a t,
THE CHRONICLE
. 12 1908. j
eo
t h e
A
fu r th e r
e x p e c t e d
s h iftin g
s t o c k
fo r
o f
lo a n s
a n d
m a r k e t,
la r g e ly
b e c a u s e
in c id e n t
t o
s u b s c r ip t io n s
u p o n
r e s tr ic te d
a d d it io n a l
t o
th e r e fo r
c o n v e r g e d
s o m e w h a t
o f
in c id e n t
p a y m e n ts
m o n e y
m e n t
[VOL. LXXXV II.
THE CHRONICLE
1503
w e e k .
o f
a c c o u n t
a n o t h e r
o f
o f
p o s s ib le
o ffe r in g
p u b lic
o f
fr o m
b o n d s
w ith
a n d
a n
it
T h e
w a s
r is e
s o
o r
v iv e d .
d e p o s it a r y
in
e x c h a n g e
r a te s
T h e
t h e
w e e k
2 1 4 %
;
t h e
a t
a ll
lo a n e d
2 %
t h e
%
fu n d s
a s
t h e
b y
b e in g
p r o b a b ly
3 A
a n d
fo r
%
s u p p ly
th e
t o
fo u r
%
w a s
a n d
%
fo r
m o n t h s ’ s in g le
%
t o
fiv e
R a t e s
w a s
o f t h e
o f
h a d
g o ld
3 %
fo r
g o o d
fo r
3 %
o n
c h a n g e
r e s u lt
th is
t o
w it h
@
b e lo w
le s s
4 @
g o o d
t o
s ix t y
e x c h a n g e
m a k e
th e r e
fo r
n o o n
$ 2 ,5 0 0 ,0 0 0
g o ld
in g
h a lf a
a
ris e
T h e
B a n k
s ix t y
t o
T h e
%
m a r k e t
F r a n k fo r t
s p e c ia l
c a b le
£ 6 7 0 ,7 2 2
a t
E n g la n d
2 %
th e
u s
th e
A y r e s ),
fir m .
o n
T h e n
a
u n til
e v id e n c e
t o
w a s
in q u ir y
fo r
a
fin a n c e
b ills
th e
n e w
o f
th e
E n g la n d
lo s t
£ 3 3 ,9 5 0 ,5 4 0
fu r th e r
s h ip m e n ts
d e ta ils
t o
n et
o f
th e
s h o w e d
h a z a r d
p a r it y ,
fo r
n o
fo r
b a r e
C o m p a r e d
c h a n g e
4
8 4 3 0 @ 4
c a b le s ,
4
8 4 3 0 @ 4
8 4 4 0
1 0
p o in ts
fin a l
s o o n
o f
in te r v a l
in te r io r
4
in
th e
b a la n c e
b e g a n
b e
in
fo r
o n
fo r
w e r e
t h o s e
a n d .
o w in g
T h e
o n
a s
t o
e x
th is
in
a c c o u n t,
b e c a u s e
t o
4
e x c h a n g e
5
u n
d e c lin e
s o
a s
a fte r
e n g a g e m e n t
o f
n o t w it h s ta n d
o n
L o n d o n .
m a d e
o f
O n
$ 1 ,4 0 0 ,
$ 3 ,9 0 0 ,0 0 0
h ig h e r
8 6 5 0
a n d ,
fo r
s h o r t
a t
4
8 6 8 5 @ 4
t o
8 6 9 5
c a b le s
5
s h o w s
o f
t o
5
8 6 6 0
O n
4
w a s
1 0
8 4 5 0 ®
a n d
fo r
c a b le s
th e
8 4 8 0 ,
p o in t s
lo n g
8 6 8 0 ;
4
a t
8 6 9 0
a t
to
8 6 9 5 .
T h u r s d a y
8 4 7 0 @ 4
a n d
F r id a y
la tte r
a d v a n c e d
p o in t s
h ig h e r
a t
a n d
p o in t s
8 6 9 0 ® 4
O n
4
5
lo n g
8 6 8 5 @ 4
8 7 2 0 .
th e
4. 8 6 7 5 @ 4
1 5
4
p o in ts
lo n g
a n d
t o
e x
lo n g
s h o r t
r o s e
t o
fo r
fo r
fo r
a n d
lo n g
p o in ts
r a te s
lo w e r
T u e s d a y
8 4 5 0 ,
1 0
w e e k ,
p o in t s
O n
p o in ts
s o m e
p o in t s
8 6 4 5 @ 4
15
O n
b y
la s t
1 5
c a b le s
8 7 2 5 .
fo llo w in g
w e e k ’s
T h u r s d a y
P a r is ,
o f
M o n d a y
8 7 1 5 (3 )4
p o in ts
s h o u ld
O n
la s t
fo r w a r d
5
m a r
p o in ts
c a b le s
p o in t s
t o
h ig h e r
p o in t s .
d a ily
th e
p o s t e d
le a d in g
ra te s
fo r
s te r lin g
d r a w e r s .
M o n ...
D ec. 7.
F it ..
D ec. 4 .
B row n
/CO d a y s
B r o t h e r s ................... . / S i g h t . .
K id d e r . P ea /CO d a y s
b o d y A C o _________ . / S i g h t . .
B a n k B r itis h
/ 00 days
N o r t h A m e r ic a . . . . / S i g h t . .
/CO d a y s
Bank of
M o n t r e a l...................... . / S i g h t . .
C a n a d ia n B a n k
/ CO d a y s
o f C o m m e r c e --------- . / S i g h t . .
I le ld e lb a c h , Ick e l/GO d a y s
h e lm e r A- C o ------------ . / S i g h t . .
/GO d a y s
F r e r e s ----------------------M erch a n ts’ B a n k
/GO d a y s
o f C a n a d a . . .............. . / S i g h t . .
•1
■1
4
4
4
4
4
4
4
4
4
1
4
4
4
4
T u e s .,
D ec. 8 .
W ed. ,
D ec. 0.
85
8 7 /4
85
8 7 /4
85
8 7 /4
85
8 7 /4
85
8 7 /4
85
8 7 /4
85
8 7 /4
85
8 7 /4
85
8 7 /4
8«)
8 //< j
85
8 7 /4
85
8 //4
85
8 7 /4
85
8 7 /4
85
8 7 /4
85
87^
85
8 7 /4
85
8 7 /4
85
8 7 /4
85
87 >4
85
8 7 /4
85
8 7 /4
85
8 7 /4 1
85
8 7 /4
85
8 7 /4
85
8 7 <4
85
87 >4
85
8 7 /4
85
8 7 /4
85
8 7 /4
85
S 7 /4
85
8 7 /4
F i t .,
T h u r s.,
D e c . 10. D e c . 1 1 .
80
88
86
88
86
88
86
88
80
88
80
88
86
88
86
88
85
8 7 /4
85
8
85
8 7 /4
85
8 7 /4
85
8 7 /4
85
87 /4
85
8 7 /4
85
8 7 /4
a b r o a d
R a t e s
fo r
fo r
lo n g , 4
fo r
c a b le s .
@
4
8 4 6 0
o n
8 6 9 5
F r id a y
fo r
4
p a y m e n t
8 3 %
a n d
@ 4
g r a in
8 4 ,
fo r
w e r e
fo r
s h o r t
o n
b a n k s
C o m m e r c ia l
d o c u m e n t s
p a y m e n t
e x c h a n g e
8 6 9 0 @ 4
4
8 3 %
c o t t o n
@
a n d
4
4
fo r
p a y m e n t
4
4
4
8 4 8 0 @ 4
8 4 9 0
8 7 2 5 @ 4
8 7 3 0
8 4 5 0 @ 4
8 5 %
.
8 4 6 0
C o t t o n
a c c e p t a n c e
8 5 @ 4
8 5 %
4
a n d
fo r
8 4 5 0
.
p r a c tic a l
m a r k e t
w a s
2 0
s h o r t
T h e
4
w a s
2 5
4
g o
w e e k
p o in ts
8 4 4 0 @ 4
lo n g
a t
8 7 2 0 @ 4
c o n t r ib u t e
c o r r e s p o n d in g
t o
s h o r t
a n d
w h e n
w e re
o p e r a tio n s
d is c o u n ts
fo r
b e
w e r e
th e
t h a t
fo r
fo r
fo r
L o n d o n
th e
t o n e
s a m e
th e r e
w a s lim it e d
h e r e ,
e x e r t e d
th e
m e e t
A r b it r a g e
s a le s
u r g e n t
c o v e r
d r a fts
v o lu m e
e x c h a n g e
s e ttle
m o r e
t o
fo r
a t
O n
L o n d o n
p r o v id e d
p r o s p e c t
r o s e
5
c a b le s
s h o r t
p o in t s
a n d
4
a n d
k e t
4
lik e ly
w h e th e r ,
c a r r y -o v e r
A t
a n d
t h a n
w a s
w h ic h
A p p a r e n t ly
R a t e s
c o n d it io n s .
r e m it
r e q u ir e m e n ts
c o m m e r c ia l
o f
in
in v o lv e d .
in flu e n c e
t o
n e e d s .
t r a d in g
lo w e r
m a tu r e ,
b a n k e r s ’
b e tw e e n
s till
m e e tin g
h a v e
b ills
a
w a s
c a b le
th e
a d ju s t m e n t .
fo r
m o n t h .
a n d
o n
t o
th e
8 4 6 0 ,
w e r e
u n c h a n g e d .
e d n e s d a y
T h e
in
w a s
8 6 6 5
F r id a y
fo r m e r
8 6 7 5 .
W
fo r
r is e .
th e
t h e
n o t
w e r e
th e
a s
th e r e fo r e
e x c h a n g e
fo r
e x
$ 5 ,4 0 0 ,0 0 0 .
a n d
8 6 7 0 @ 4
B u e n o s
m a r k e t
d e a lt
8 4 3 5
t o
t o n e
w ith
4
s h o r t
t o t a l
b y
o f
p o in t ,
u n e x p e c t e d
in
s u m
e a r ly
w a s
t o
c o n t e m
th is
fir m
w o u ld
e n g a g e m e n ts
w e e k ,
o f
w a s
p r o fit a b le .
c e n tim e
S a t u r d a y
4
c o m p a r a t iv e ly
fo r
o n
it
s h ip m e n t
T h u r s
s h ip m e n t
w a s
a q u e s t io n
L o n d o n
s o m e w h a t
fo r
th e
la s t
@
th e
in q u ir y
m a k in g
fo llo w s :
t h o u g h
s e ttle m e n t ,
th e
w o u ld
m o n e y
m o n e ta r y
a
s h a r p
m o d e r a t e
a
w a s
o f
a
a d d it io n a l
a s
w e r e
(w h o lly
fo r e s h a d o w in g
th e
s o
s lig h t ly
p e r io d s
a
m a r k e t ’s
s p e c u la tiv e
th e
o f
d u r in g
th a t
e n d
w e re
t o
s to c k s
t iv e
o u r
t o
T h e
B a n k
m a r k e t
L o n d o n
w o u ld
d e m a n d s ,
o ffe r e d
w e r e
la r g e ly
£ 4 7 1 ,0 0 0
u r g e n t
d e v e lo p e d
s u p p lie s
p e c t e d
o f
th e
s e c u r itie s
c a b le s
d e m a n d
th a t
lit t le
t o
w a s
in c lu d in g
.
B e r lin
c o r r e s p o n d e n t
d u e
e d n e s d a y ,
c a u s e d
h ig h ,
o p t io n s
a n d
th e
E x c h a n g e
m e n ts
W
s o m e w h a t
A m e r ic a n
S t o c k
n o
o f
e x c h a n g e
in c id e n t
o n
fo r e
h e ld
%
0 0 0 ,
2 5
T h u r s d a y ,
t im e
o f
a n d
£ 2 0 0 ,0 0 0
s h ip m e n ts
w e e k
a n d
r a te
o f
e x p o r t s ,
fo r e ig n
th is
t a n c e
B a n k
B r it a in .
o u t
2 %
a t
A c c o r d in g
t h e
O u r
®
a n d
w e e k
w a s
G r e a t
2 %
2 y 8 %
o f
B r it a in .
T h e
b ills
.
th e
lo s s
a n d
n il,
a n d
G r e a tr
o f
in to
3 %
r e m a in s
d is c o u n ts
L o n d o n
is
w e e k .
th e
in
%
d is c o u n t
r e p o r ts
P a r is
L o n d o n ,
th e
in te r io r
I m p o r t s ,
q u ie t
o f
3 @
o f
c a b le
b ills
a t
d u r in g
t h a t
m o v e m e n t
b a n k
is
fr o m
r a te
T h e
r a te
it
b u llio n
c lo s e
a d v is e s
t o
.
n in e t y -d a y
o p e n
a n d
o f
a t
o n
o n
t h e
m o n e y
g o ld
r e
e a r ly
m a in te n a n c e
a n d
t h a n
m a d e ,
o p e r a t io n
o f
t h a t
g o ld -e x p o r t
a c t iv e ,
m a n i
w a s
w e r e ,
fo r w a r d e d
th e
T h o u g h
P a r is
s ix
F r id a y
u n c h a n g e d
t h e
a t
%
n a m e s .
t o
s o
e x p o r t w a s lim
w it h h o ld in g
d u e
e d n e s d a y
t e n t a t iv e ly e n g a g e d —
m illio n s
h ig h e r
w e r e
t o
4 %
fo u r
th e
in d ic a t io n s o f
v o lu m e
e x p e c ta t io n s
T h e
n o t
e v e n
a n d
fo r
w a s
p r o fit a b le
w a s
s te r lin g
w a s
4 %
o f
r e m it
e x p o r ts
t h o u g h t h e
l A
m o n e y .
it
s o m e
W
d r a fts
g o ld
e x c h a n g e ; m o r e o v e r , it w a s
e n g a g e m e n ts
@
c lo s e
a fte r
o f
la s t w e e k
m illio n s
w a s
th e
fir m
in
th a t
o f 3
th e
s h ip p e r s
w e e k ,
a n d
fu r t h e r
P a r is
m o d ify
e v e n
T h e
s m a ll
t h e
c o m m e r c ia l
s c a r c it y
p o s it iv e —
T u e s d a y .
o f
a ffe c t
as t o
t o
o u t
t o
o f
in te n d in g
lo w e r
3 %
c o n t r ib u t e d
w e e k
o n
t h e
m illio n s
\ A
w e e k
m o n th s .
s ix
p a p e r
th e
s u c h
a
d a y s ,
th e
p la te d
o n
w e re
n in e t y
r e c e iv a b le ,
a b o v e
t o
o f
t o
o f la s t
t h is
c o m p a n ie s ,
lo a n s
t o
a s
g e n e r a lly
in s te a d
c a s e
w e r e
b ills
1 %
c o n t r ib u t e d
t h e
c o m m e r c ia l
a n d
%
c o lla te r a l
3JA %
e n d o r s e d
4 %
a b o u t
q u o t e d
T im e
s ix t y
g o o d .
a v e r a g in g
d a y
b a la n c e s
b e e n
fo r
it e d
,
d e p o s it o r ie s
h a v e
a n d
n in e t y -d a y
p r im e
t h e
h ig h -g r a d e
d e m a n d
t h e ir
d u r in g
E x c h a n g e
2 %
m a in ta in e d .
3 %
%
t h a t
E x c h a n g e
3 ®
o f
1 %
c o m p a n ie s
o f
w o u ld
b e e n
S t o c k
t h ir t y
a t
tr u s t
w it h
S t o c k
in s titu tio n s
fa c t
t h e m
le ft
m in im u m
m ix e d
T h e
b y
e m p lo y m e n t
t h e
a n d
b a n k in g
m in im u m .
o b t a in a b le
a t
t o
fo r
fa c t , h o w e v e r , t h a t
in t h a t w e e k , q u it e
c a ll
a n d
s p e c u la t io n
s h ip m e n ts
o n
c o n t in u e d
d e m a n d
p r o n o u n c e d ,
fe s t, t h a t
b a n k s .
M o n e y
s o
u r g e n t
t a n c e .
th e
w e r e
d e r a n g e
C a n a l
fu n d s
o f
lo a n s
T h u r s d a y
w e e k ,
d e m a n d
b r a n c h
t im e
o n
c o r p o r a t e
rl h e
c a ll-lo a n
o ffe r in g s
o n
r e c a lls
t h is
t h e
fo r
q u ite
b y
r e la
s t r o n g
T h e
t o
a n d
fo llo w in g
fr o m
th e
g iv e s
th e
in te r io r
b y
w e e k ’s
th e
m ov em en t
N e w
Y o r k
o f
m o n e y
b a n k s .
THE CHRONICLE
Deo. 12 1908.]
W
it h
th e
th e
r e s u lt
S u b -T r e a s u r y
is
a s
N e t Interior
M o v e m e n t.
R eceived b y
S h ip p ed by
N . Y . B a n k s. V . Y . B a n k s.
W e e k ending D e c . 11 1 9 0 8 .
$ 4 ,6 1 6 ,0 0 0
6 9 4 ,0 0 0
$ 2 ,6 2 7 ,0 0 0 G a i n
5 8 2 ,0 0 0 G a in
$ 1 ,9 8 9 ,0 0 0
1 1 2 ,0 0 0
$ 5 ,3 1 0 ,0 0 0
$ 3 ,2 0 9 ,0 0 0 G a in
$ 2 ,1 0 1 ,0 0 0
o p e r a t io n s
a n d
b a s is
o f
y e a r
1 9 1 0 —
g o ld
in
I t
e x p o r ts
fo llo w s .
th e
is
N e t Change In
B a n k H old in g s.
r e g a r d in g
$ 3 ,2 0 9 ,0 0 0 G a in
3 3 ,8 0 0 ,0 0 0 L o s s
$ 2 ,1 0 1 ,0 0 0
7 ,9 0 0 ,0 0 0
fr e q u e n tly
$ 3 1 ,2 1 0 ,0 0 0
$ 3 7 ,0 0 9 ,0 0 0 L o s s
$ 5 ,7 9 9 ,0 0 0
C o n g re s s
p o in ts
p la n
ta b le
in d ic a t e s
th e
a m o u n t
o f
th e
p r in c ip a l
E u r o p e a n
n o
Tota l.
£
£
3 4 ,1 6 3 ,6 8 3
1 4 4 ,7 0 8 ,0 5 7
3 4 .0 8 8 .0 0 0
1 2 7 ,8 3 2 ,0 0 0
5 7 .3 6 0 .0 0 0
4 1 .2 8 3 .0 0 0
4 3 .3 0 5 .0 0 0
1 2 ,6 1 5 ,1 0 0
5 .4 1 8 .0 0 0
4 .0 0 8 .0 0 0
2 .5 0 5 .0 0 0
1 .8 1 2 .0 0 0
3 7 ,0 1 2 ,2 0 4
9 .9 8 8 .0 0 0
5 .1 7 9 .0 0 0
1 1 .6 4 0 .0 0 0
2 5 .0 4 8 .0 0 0
4 .7 1 9 .0 0 0
4 ,9 6 8 ,5 0 0
1 .8 0 6 .0 0 0
T o t . w e e k 4 5 5 ,8 9 5 ,7 0 8 1 1 3 ,0 9 5 ,5 4 2 5 6 8 , 9 9 1 ,2 5 0 4 0 8 ,2 5 7 ,1 3 6 1 0 0 ,9 6 0 ,7 0 4 5 0 9 ,2 1 7 ,8 4 0
P r c v .w e e k 4 5 5 ,9 0 3 ,6 1 4 1 1 3 ,7 5 3 ,3 2 3 5 6 9 ,6 5 0 ,9 3 7 4 0 8 ,4 5 1 ,0 6 8 1 0 0 ,9 2 8 ,2 6 3 5 0 9 ,3 7 9 ,3 3 1
O F
a n n u a l
T H E
r e p o r t
C o n g re s s
o n
a
in te r e s t in g
h ig h ly
tw e lv e
w h o s e
c o n ta in e d
in
th is
p e r i o d , '”
w h ic h
o f
tr a d e
th e
m e r c h a n d is e
T r e a s u r y
in
th e
o f
d u tia b le
te n
d iffe r e n t
T h e
h a s
tim e ,
a n d
th e r e b y
th e
in
a n y
w a r r a n te d
b y
T h is
I ts
th e
fis c a l
th e
fig u r e s
w a s
n e c e s s a r y
fig u r e s
a t
th e
th e
tw e lv e
re v e n u e s
fis c a l
th e
b u t
c o n fin e d
w ill b y
n o
a n d
m e a n s
e x p a n s io n
C o r t e ly o u ’s
fis c a l
o f
o f
w h o lly
th e
1 9 0 9
la w s ,
p o s ta l
b e
a re
h is
fo r
e n tir e
1 9 0 9
is
$ 5 8 2 ,0 0 0 ,0 0 0 ,
fis c a l
y e a r
1 9 0 8 ,
p e n d itu r e s
fo r
th e
T h e
fig u r e d
r e s u lt,
fu r th e r
o f
a s
th e
o u t
a
w e
h a v e
h it-o r -m is s
o n ly
is
th e r e
A s
M r .
“ p r a c t ic a lly
th a t
o f
is
b y
fo r
th e
th e
d e fic it
th e
d u r in g
o f
h a d
p r o b le m
is
b y
r e a c tio n ,
I n
n o
a n d
fa c t
u s u a l,
w h ic h
r e s u lts
o n
w ith
p r o b a b le
e n d e d
S e c r e t a r y , is
o v e r
th e r e
is
a p p r o
n o t
“ a n y
s till
in
t o t a l
a s
w ith
a
w h ic h
a
$ 1 4 3 ,0 0 0 ,0 0 0 ,
a n d
o n
a
t h a t
o f
I t
s u c h
T h e
in
a
b ills
r e a l
r o o t
b o t h
o f
t o w a r d s
d iffe r e n t
fr o m
o u r
th is
th e
r e p r e s e n ta tiv e s
je a lo u s ly
b e
v e r y
a
r e fo r m
th e
in
w a y
r e p o r t
o f
c o n fe r e n c e
b e
fir s t,
t o
in
is
o f
h u s tlin g
o f
t h a t
th e
is
t o t a lly
b y
o ld
a n d
t h a t
th e s e
p r u n e
d o w rn
G o v e r n m e n t ,
a s
t h e
id e a
r e p r e s e n ta tiv e s
a n d
U n it e d
w e ll
t h e
d e p a r t
t a k e n
T h e
d e s ir e s ,
t h e
C o n
s e s s io n .
fa c t
p e o p le ’s
n o
e n t ir e ly
o f
e x p ir in g
t h e
t h e
b e
h o w e v e r ,
o u t ,
h is t o r ic a lly
c o n ta in s
S ta te s .
c a n
T h e r e
p r a c tic e s
o f
th e
a n d
m o r e
o f
o f
n o t
m u c h
s u g g e s tio n
e n o u g h ,
p e n d in g
c a lle d
fin a n c e
c o u r s e
c a n
o u t ,
a n
lie s
a s
d ir e c t
C o m m is s io n .
c lo s e
p r o p e r
c o n s id e r a t io n
o f
id e a s
a n d
e n t e r t a in e d
th e r e
s c r u tin iz e
in
th a t
b e fo r e
a c c o m p lis h e d .
N a t u r a lly
t h e
o f
e x is t
is
b u s in e s s fo r
p r a c t ic e
o f
it
t h e n
b e
w a iv e d ,
M o n e t a r y
v ie w ,
c a n
C o r t e ly o u ’s
in
t o w a r d
tr ie s
t o
th e
p o in t
t h e
r e q u is it io n
s a id
m u c h
M r .
n e w
t h e
b e
th e
e x a m p le .
a s
b y
th e
d is t r ib u t in g
e x p e n d it u r e ,
s u m s
w ill
b e
th e
w ill a s k
s u c h
se e
m a n n e r ,
m a tt e r
E x e c u t iv e
it
o f
w o r k e d
d a y s
fo r
t h e
b a s is
s o u g h t .”
t o
a t tit u d e
t h a t
t h e
w e
a n d L e g is la t iv e
G o v e r n m e n t ,
g r a n t
o f
E x e c u t iv e
B r it is h
t o
t o
s e r io u s ly
d iffic u lt y
o f
y e t
v ie w
p r e s e n t
la s t
p r e s e n t
s u g g e s tio n
s u p p o s e
b e fo r e
v e r y
a t tit u d e ,
m e n ts ,
t h e
th e
e q u it a b le
e ffic ie n t ly
w it h
o f
s u p p o r t
th e p o w e r o f r e v is in g
a
w o u ld
n e c e s s a r y
o f
h is
u n s a tis fa c to r y
im p o r t a n c e
w e
n e e d le s s ,
c o n s t it u e n c y
p r o p e r
a g o ;
in
in e v i
b u s in e s s -lik e
h o w
w e r e
h a s
lie s
a lm o s t
A t
m o r e
y e a r s
w h ic h
y ,
p la n ,
th e
m a tt e r s .
th e
is
a p p r o p r ia t io n
la r g e ly
h e
e c o n o m
in c o m p a t ib le
g re ss
th e
b o d y
th e
a n o th e r .
a n
w h o
k n o w s ,
o b t a in
w ith
p r o c e d u r e
le g is la t iv e
e x
p r o b a b le
1 9 0 9 ,
fo r
t o
in
a p p r o p r ia t io n s
a
v e r y
o n e
fr e q u e n t ly
t o
C o r t e ly o u ’s
b ills ,
b e
n e w .
m a k e s
c o m m itte e
in c r e a s e s
m a y
n o th in g
C o m m itte e
M r .
fo r
d is t r ib u t e
p r a c t ic a lly
e v e r y
a n d
e s tim a te s
t o
is
b u t
w h ic h
d o z e n
t o
w h ic h
s a y ,
a s
m u c h
a jo in t
a ls o ,
s u c h
th e
J u n e .
in
a n d
th e
n e e d
m o n e y
a
a
o w n
o r d e r
in c r e a s e s
o r d e r
r e m a in .
" v e s t
v ie w ,
m u s t
a g a in s t
la s t
ca s e
in
s im p le ,
b y
t h e
r e v e n u e .”
la r g e ,
o n
a p p r o p r ia t io n
th e
J u n e
o f
w ith
a p p r o p r ia tio n s
a p p r o p r ia tio n s
p u b lic
in
c h a r g e d
th e
t r o u b le ,
d e s ir e d
th e
C o n g re s s
s c a r t e ly
E x c lu s iv e
o f
C o r t e l y o u ’s
th e
G o v e r n m e n t ’s
e n d in g
y e a r
M r .
fo r
$ 6 0 1 ,1 2 6 ,1 1 8
o f
fis c a l
th o s e
p r e c e d in g
th e
$ 6 9 4 ,0 0 0 ,0 0 0 ,
y e a r
J u n e
r e v iv a l o f in d u s t r y
a s
b u t
o f
o r
h a r d ly
o f
o r g a n iz e d
w a s
M r .
d is p u t e .
o r d in a r y
fu tu r e ,
m o n th s
a g a in s t
t h a n
o v e r
p e r io d
o p t im is tic .
d e p a r tm e n t
o f th e
A p p r o p r ia tio n s
is
p u r p o s e
e n d in g
o f
th e
tr a d e
b a s e d ,
o f
H o u s e
th a t
th e r e fo r e
h a d
im p o r ts .
fo o t in g
fis c a l
$ 1 1 4 ,0 0 0 ,0 0 0
c a lc u la te s
a s
th e
p e r io d
in
is
s a y
t h a t
b y
e s tim a te
tw e lv e
a n d
$ 6 5 9 ,1 9 6 ,3 1 9
d e fic it
1 9 1 0 ,
re v e r s e
r e c e ip ts
th e
r e v e n u e a n d e x p e n d itu r e
a n d
th e
r e v e n u e ,
th e
d u tia b le
o f
I t
s a m e
a n d
s o lv e d
s in c e
m o n th s
fr o m
o f
a c c o u n ts
w h e n
o n ly
th e
p r e s e n t
th e
T h a t
a n a ly s is
s h o w s
q u e s tio n
e s tim a te s
y e a r s
e x is t in g
a
a g a in s t
e x p e n d itu r e
t o
n o t
fo r
T h is
b o t h
o f
e x c e p t
im p o r t
a s
s ta te m e n ts
$ 6 4 ,0 0 0 ,0 0 0
t o
a s
c o lu m n s , th a t
e x p e n d itu r e .
s e r v ic e ,
“ lo g -r o llin g ,”
a p p r o p r ia t io n s
1 9 0 7
k n o w n
t o ,
e x p e n d it u r e s
T r e a s u r y ,
m e a n s
O c t o b e r ,
w e
g r a n tin g
t h e
th a t
s ta te
C o n g r e s s m a n ,
t im e
th e
r o o t
o f
th e
r e d u c tio n s
fu r th e r
t im e ,
$ 8 1 ,0 0 0 ,0 0 0 .
M r .
a p p r o p r ia t io n .
th e s e
C o n g r e s s
th e o r e tic a lly
a p p r o p r ia tio n s
fa c t
th e
o f
C o n g r e s s io n a l
s y s te m
o n e
th e
r e d u c tio n s
T h e
in flu e n c e
fr o m
s u m m e r .
in to
r e fe r r e d
d e c r e a s e d
n o t
c o -o r d in a t io n
th e
is
d iffic u lt.
n e c e s s a r y
fu ll t w e lv e
la s t
g o
p r e s e n t
m o n th s
y e a r ,
in c r e a s e d
o f
t o
w a s
fo r th e
c o n c e r n s
T r e a s u r y ’s
e x c e s s
y e a r
c o m p ile d
h a r d ly
-
1 9 0 9 .
s u g g e s t io n s
u n s c ie n tific
C o n g r e s s ,”
o f
s itu a tio n ,
r e m e d y
c o u n t r y ’s
o f
th e
1 9 0 7 ;
s e v e r e
a s
$ 5 0 2 ,4 8 2 ,8 9 2 ,
in
o f
b y
fa r
in
la s t
m o n t h ly
$ 5 8 ,0 0 0 ,0 0 0
fo r
3 0 ,
w ith
m o n th s
th e
$ 3 6 ,5 0 0
in s p ir e
r e p o r t,
in
t o
E x e c u t iv e
b y
b r a n c h e s
t h e
ju d g e d
c r e a te d
r e p o r t , w ith
J u n e
w h o s e
w a s
s a m e
s o
th e
“ b o o m
p a n ic
m a r k e d
r e d u c tio n
b e
o f
s ta te m e n ts
s o -c a lle d
O c t o b e r
t o
c o v e r s
o u t
th e
th e
w a s
e n d in g
th e
r e p o r te d
r e v e n u e
m a y
m e r c h a n d is e
in
in
th e
tr a d e ,
m o n th s
d e fic it
b e e n
fe ll
d r a s tic
im p o r t
C o r te ly o u ,
in
th e
a n d
e q u it a b ly
ta b le
s u b m it t e d
m o n th s
p a r tic u la r ly ,
th e
r e v e n u e s
$ 6 7 1 ,7 7 0 ,1 8 2
F o u r
y e a r
a n d
b y
S e c r e ta r y
w ith
fis c a l
R E P O R T .
T r e a s u r y ,
e m b o d ie d
r e p o r t
d e p r e s s io n ,
T r e a s u r y ,
b y
a re
e n d e d
th e
o n
th e
p e r io d .
r e s u lts
th e
re s t
T R E A S U R Y
o f
W e d n e s d a y
s ta te s ,
c o m m it t e e
c o m p a r is o n
th e
P H A S E S
b y
m a d e
fo llo w e d
T h e
a b s u r d ly
o f
fis c a l
Total.
S tiver.
G old .
£
£
3 3 ,9 5 0 ,5 4 0 3 4 ,1 6 3 ,6 8 3
1 7 2 ,7 2 1 ,9 1 0 1 0 7 ,0 9 5 ,8 5 3
5 2 .4 1 7 .0 0 0 2 1 ,1 0 0 ,0 0 0
1 2 9 ,1 2 7 ,0 0 0 1 2 2 ,6 5 3 ,0 0 0
6 1 .2 8 3 .0 0 0 4 5 .7 2 0 .0 0 0
4 8 .3 2 8 .0 0 0 1 5 .6 3 5 .0 0 0
4 1 .9 0 0 .0 0 0 3 8 .5 8 6 .0 0 0
7 ,6 4 6 ,6 0 0
1 2 ,3 4 9 ,8 0 0
3 .6 1 2 .0 0 0
6 .3 2 4 .0 0 0
4 .0 6 8 .0 0 0
4 .2 4 5 .0 0 0
2 .5 6 5 .0 0 0
4 .7 0 5 .0 0 0
1 .8 1 2 .0 0 0
1 .6 4 0 .0 0 0
3 5 ,7 6 0 ,0 4 2
1 5 .3 5 8 .0 0 0
6 .4 9 0 .0 0 0
1 2 .3 1 1 .0 0 0
3 2 .5 3 9 .0 0 0
4 .5 0 0 .0 0 0
4 ,0 2 9 ,5 0 0
2 .1 0 8 .0 0 0
h is
o u t
r e v e n u e
c o r r e c tly
c o n t r o l
s in g le
£
w h ic h
p r e g n a n t
o f
p o in t e d
o f
fis c a l y e a r
m e th o d s
t e x t
a n
a d ju s tin g
p r ia tio n s
B a n k s of
£
E n g l a n d . . 3 3 ,9 5 0 ,5 4 0
F r a n c e . . 1 3 6 ,9 6 1 ,8 6 8
G e r m a n y . 3 7 .0 5 9 .0 0 0
R u s s i a ____ 1 2 2 ,6 3 7 ,0 0 0
A u s . - I I u n . 4 8 .9 7 2 .0 0 0
S p a i n _____ 1 5 .7 8 9 .0 0 0
I t a l y ........... 3 7 . 4 0 0 .0 0 0
8 ,3 2 0 ,3 0 0
N eth T d s .
N a t .B e lg ..
4 .2 1 6 .0 0 0
S w eden . .
4 .2 4 5 .0 0 0
4 .7 0 5 .0 0 0
S w lt z e r l’ d
1 .0 4 0 .0 0 0
N orw ay . .
t h e
th e
o b s e r v e d ,
b u llio n
D ecem ber 5 1 9 0 7 .
S ilver.
in
b e
b a n k s .
D ecem ber 3 1 9 0 8 .
G old .
v e r y
fo r
it
in c r e a s e
th e
u n d o u b t e d ly ,
h e r e to fo r e
C o r te ly o u
in
w ith
g o v e r n m e n ta l
o u t
le t
e s tim a te d
c e r ta in
fo llo w s
in
a n
c o m p a r e d
fig u r e s ,
o u r
$ 5 ,3 1 0 ,0 0 0
2 5 ,9 0 0 ,0 0 0
H e
s u b m it t e d ,
c a lc u la t io n ,
o f
a s
w ith
Out of
B a n k s.
a lr e a d y
la s t
fa c e
th e s e
In to
B a n k s.
B a n k s ’ in t e r io r m o v e m e n t , a s a b o v e .
S u b -T r e a s . o p e r . a n d g o ld e x p o r t s . .
fo llo w in g
in
t h is
r e v e n u e s
C o r te ly o u
W e e k ending D e c . 11 1 9 0 8 .
T h e
a p p r o p r ia tio n s
c o m in g
0 0 0
1 5 0 3
t h e
th e
O n e
c u r r e n c y
is
t h a t
a n
p r o m p t
g r e a t
a n d
S ta te
q u e s t io n
o f
is
t h e
m a d e
in te r n a tio n a l
o f
th e
b a n k s ,
e ffe c t iv e
is
fis c a l
s u g g e s t io n ,
r e p r e s e n ta tiv e s
th e
w h ic h
o t h e r
d e lib e r a tio n s
c u r io u s
r e p o r t ,
o n
m in is
w it h
a
c o -o p e r a t io n
n
fin a n c in g
e c o n o m ic
e s t a b lis h m e n t
n a tio n a l
o f
g o ld
m o v e m e n t
v ia t e d .
b e e n
o f
L u ig i
in
b u lk
o f
th e s e
L u z z a t ti,
th e
a t
w o u ld ,
t h e
w e
e
r e g r e t
S ig n o r
t o
a d a p t a t io n
b o u n d
N e w
o w n
Y o r k
v e r y
o n e
w a y ,
t o
W e
fo r
p r e m is e s ,
b u t
o f
c o n c e iv e
a ll
fo r
w ith
a re
p r o t e c t
th e
F r e n c h
r e lie f
t h e
m ig h t
o f
o th e r
h a v e
o n
t a k in g
th e
le a d .
T h e
s u g g e s t io n
t ific a te s ,
fo r
e x c h a n g e ,
a s
w e
v e r y
m e t
o r
m ille n n iu m
p e r p e tu a l
w h o lly
tr e a s u r e ,
u p ,
t o
a c tu a l
is s u e d ,
a n d
o f
th e
o f
g u a r d ia n s h ip
o f
fa r
w ill
b a n k in g
a n o th e r
e n tr u s t
s tr u c tu r e
a n d
a n
is
a lie n
T h e
a n d
m e r e s t
in to
b e
th e
a
s o
o f
n e w
s o c ia l
fe w
u p o n
t h e
a t
m a n y
a
t h e y
p o in t
v a r ia tio n s
g re s s ;
th is
m in d in g
c lo s e ly
h a s
it .
b e e n
v e r y
u s
t e r m s
is
fo llo w in g
h is
t h e
is
o f
tr u s t
its
t o
a
fa c e
o f
a
c a r e fu l
r e p e a ts ,
fr a n k ly
u p o n C o n
n o t a b le
b e e n
y e r y
r e c o m m e n d a t io n s
in
m e m o r y
a u t h o r
in c id e n t a lly
h a s
p u t
m is s in g
m e s s a g e
a n d a g a in u r g e d
C o n g r e s s
t h e y
th e m
m a k in g
th e
(a s
o f
if
m e n t io n e d
t o
w o r t h
g e n e r a l,
s a m e
t o p ic s
c o u n t r y
b e e n
u n s a fe
a g a in
t h a t
o v e r
im p r e s s io n
h a r d ly
in
t h e
m a k e
t h e
m a n y
fr a c t io n
h a v e
is
I n
fa c t
t h a t
fir s t
it
a n d
w ith
w h a t
a n d
w h ic h
y e t
a
c o m m it
T h e
t o p ic s
s o
c h a n g e s ,
a n d
w o u ld
a b o u t
s o m e
u p
s h o w s
c o v e r in g
a s
fa r
w ith
r e
fr o m
C o n tr o l
lik e
fir s t
in
“ w o r s e
e x is t in g
o f
c o r p o r a t io n s ,
t o p ic s ,
o r d e r
th a n
la w ,
im p e r fe c t ly
a lm o s t
lo n g
a s
o f
a re
fir s t
t o
“ b e c a u s e
m u c h
t h e
m e n t io n .
fo lly ”
a n d
o b je c t io n
in
p r o h ib it
u n e q u a lly
h a r d s h ip
T h e
s u c h
a
la r g e
m in d
P r e s id e n t
a ll
la w
a n d
a s
t o
a u t h o r 's
fo r t u n e s ,
a n d
c o m e
d e c la r e s
c o m b in a t io n s
c a n
its
g o o d .”
b e
a s
e n fo r c e d
e n fo r c e m e n t
it
b y
o n ly
s o ,
a
g r e a t
tr u e
b e e n
e
u n le s s
“ I t
is
t o
t h e
p u t
c a p a c it y ,
u p o n
a n d
in te llig e n c e s
b u s in e s s
s o
s o
a s
t o
w h e n
b e
a
w e
fin d
in
t h e
lin e
s a fe ly
r is k
th e
m u c h
in
a n
a lo n e
o p e r a t io n s
o ld
c a n n o t
h e ld
c a ll
h o w e v e r ,
p r e m iu m
a n d
a fte r
is a g a in
s p e c ific
fin d ,
n o t e w o r t h y
it ,
n o w
jo in e d
p o w e r
n e w :
b e
c o u n t r y
a n d
fim ilia r
a n d
t h is
c a n n o t
a s s u m e d
fo r
n e e d e d .”
W
c h ie f
th e
e
le a s h
b y
F e d e r a l
t h e
c o lo n ie s
t h e
w ith
fa c t
a g a in s t
o f
t h e
t h o u g h t
o f
b y
a n d
t e m p t e d
s u c h
t io n
a s
o n ly
th e
fr a m e r s
t o
p u t
s w e e p
w e
u p o n
o f
th e
h a v e
in
t r a d e
th e s e
p la in
c o u ld
a t
la t e r
d e a l
b u t
m
o f
e v e r y
o r e
w a s
s u c h
w e r e
im
a lw a y s
b o u n d a r y ilin e s —
c la u s e
d a y s
g e t
t o
a b s o lu t e ly
n o t h in g
t h e ir
im
a n d
t h e y
p o w e r
p o w e r s
c o m m e r c e
r e
in c o r r e c t .
t h e
r id d a n c e
s m a ll
d e a l
T h is
“ g r a n t e d
t h a t
t h a t
s h o u ld
o th e r w is e
t h e
b e
t h a t
fo r m a t io n
G o v e r n m e n t ,”
t h a n
a s
b y
u n io n
w a s
t o
n e e d
h is t o r ic a lly
b y
k n o w s
h in d r a n c e s
t h e
S ta te s
o u t s id e ;
G e n e r a l
s u b je c t
b y
c la im e d
d is s e n s io n s
w o r ld
t h e
d o
d e c la r a t io n
t o g e t h e r
c o m m e r c e
t o
is
t h e
a c c o m p a n ie d
c o m m e r c e .”
it
th e ir
t h a t
t h e
in te r -S ta te
p le n a r ily
t h a t
t h a t
a b s o lu te
s e v e r a l
b r o u g h t
s e ttlin g
p la in
th e
n e e d
m e a n s
c a n
a re
s tr a n g e
fo r e ig n
r e m a r k
w e r e
o f
s t u d e n t
n o
a n d
a r g u m e n t
c o m p e lle d
t h e
t h e
th is
g o v e r n m e n t
la w s
“ w a s
o n
t h a t
w o r k ;
a
w h ic h
in te r -S t a t e
s t r e n g t h
a n
c e n tr a l
fin d
n o t
fo llo w s
d e n ia l
“ m a n y
a ls o
a n d
p o s s ib ilit y
b y
w h ic h
r e a s o n
o n ly
a
c o m e s
t h e
G o v e r n m e n t
U n io n
T h e
a n d
in d is p e n s a b le
c o n d it io n s
t h e
d is q u is itio n
s u p r e m a c y
t h e n
o f
w a s
t h e
C o n s t it u
e v e n
d r e a m e d
o f.
C o n s e r v a t io n
fo r e s t s ,
c it e d
in
o f
is
in
w h a t
t h e
o f
u r g e d
d e ta il;
is
b o t h
b u t
a
o n
p o s t a l
c a n
w it h o u t
is
th e m s e lv e s
O f
t h e
it
a re
d o c t r in e
t o r y
o ld
g iv e n
s h o w
t o
t h a t
le g a l
t h a t
fo r ,
m o r e
a n d
a n d
C u b a
t h e y
p a r c e ls
“ th e
b e in g
b o t h
c a n
w e ig h t
o f
e s t a b lis h in g
m e n t io n
t h a t
a v o id
m u c h
o f
b e in g
b a ttle s h ip s
t h e
a
s p e c ific
C h in a
p o s t
o f
o n ly
w a y
g o v e r n e d
a n d
is
H a y t i,
w ill
a
fr o m
g o v e r n
w it h in .”
o r
o f
s a y
w it h o u t
F o u r
n o
t o
o f
u n d e n ia b ly
b a n k s
is
e s p e c ia lly
e x a m p le
m o r e
w h a t
th a t
c o n c e r n in g
is
th is
h e s ita tio n
th e
c a lle d
is
w o r k m a n
d o c t r in e
o f
o ld
o r
t h e
m a tt e r
d e m u r ,
is
d u t y
e m p lo y e r s ’
t o
b e
a n d
t h e
a
t h a t
it
d a n g e r o u s
e x e m p t e d
r e s p o n s ib ilit y
o f
lia b ilit y ,
fo r
fr o m
c o n t r ib u
n e g lig e n c e .
M o r e
b e
is
c o lu m n
s u ffic e s
t h e
T h e r e
fr o m
is
c a lle d
s a v in g s
e n a c t m e n t
a d m it s ,
th e r e
p e r m a n e n tly
t o
r e s o u r c e s ,
t h e
fo r e s t r y .
c la s s
w a r n in g
p e o p le
le n g t h ,
a n d
s a id
la r g e s t
n a tu r a l
a t
r e c o m m e n d e d .
w o r k s
U n d o u b t e d ly
o f
t h e
W
C o n
b e fo r e
y e a r 's
d ir e c t in g
s o
th e
w it h o u t
p e r h a p s
F e d e r a l
la s t
is
e s p e c ia lly
S ta te s
b r o a d
a n d
is
c e n t r a liz a t io n ;
e n a c t
m e n ts .
it
a g o ;
c o u n s e l
in d iv id u a l
t h e
is
in d iv id u a ls
F e d e r a l
p o s ts
d o c u m e n t
s w e e p in g
e x p e r im e n t s
c o m p a r is o n
s a y s )
t h is
t a k e n
d o c u m e n t s ;
s u c h
M E S S A G E .
d is c u r s io n ,
c r e a tio n .
o f
fo r m e r
o f
s e r io u s ly
s t a t u t e ,
c o u r s e
g la n c e
s p r e a d
u r g in g
c o u ld
A
o f
a n d
T H E
T h is
o f
q u o t e d
t h a t
p o w e r .
p e a c e
is
m a n a g e
t h a t
o f
in te r n a tio n a l
c o m m u n it y .
e n o r m o u s
w o r k
q u ir e s
it
t o
s u c h
p r o p o s it io n s
s h o u ld
g r e a t
is
t o b e c h a n g e d , a n d it
t h e
t h e
a n d
m e s s a g e
c o n d u c t e d
lo n g
r e a lly
t h e
r e c o g n it io n
a
a r r iv e
a n o th e r ,
fo r
d a y .”
u r g in g
w e
in
in it a t iv e
b e
b u r e a u .
t h e r e
s u c h
o f
n a tio n
w h ic h
r e w a r d
la w
o u g h t
s w e e p
m is s
lic e n s in g
b u t
o f
t h is
r a d ic a l
w e
a ll t h a t
t h e
“ t h e
c a n n o t
fo llo w e d
t r u is m ,
t h e
th e
o f
a g o ,
t h a t
c h a n g e d
a n d
y e t
s e n te n c e ,
t h e
o f
a g a in s t
u n til
c lo s e n e s s
c o m p e t e n t
o f
b e e n
F e d e r a l
a m p le
s e r io u s
o n e
m a r k e ts
th e ir
t h is
w it h
S ta te
g r e a t
w h ic h
a
w h ic h
t h a t
o n e
s o
p o in t
s o m e
c e r
fo r e ig n
a m o n g
g o ld
p e r p e tu a l
t h a t
o n
t h a t
o n
n e v e r ,
c r u c ia l
t h e
c o n fid e n c e
im p r o b a b le
r e a l
b u ilt
a re
h a s
a n y w h e r e
fa c t
g o ld
b a la n c e s
a n d
T h e
t h e
h o ld
o f
o n e
fa v o r
in
a n d
c e r tific a te s
t h e
o ld
w it h
lie s
in te r n a tio n a l
s e t t le m e n t
e c o n o m is t s .
p o s s e s s
th e s e
th e
a
m a tt e r
m u s t
a n d
in
k n o w ,
w h o le
a t
u s e
is
fin a n c ie r s
r e g a r d in g
fo r
y e a r
c o u n t r y
m a n y
a d v o c a t e d ,
h a d
in s is tin g
P a r is
it .
M o r e
in d iv id u a l
in
t h e y
in
w ith
a
1 9 0 6
h a v e
s o
fa it h
a n d
a c t
n o t
o f
C e r t a in ly
m ig h t
in te r e s t
fin a n c ia l s tr e s s ,
t o
m o t iv e
o u r
t h e
h a v e
fin a n c e .
s u g g e s te d
c a n n o t
e v e n
o f
t o
h a d
g iv e n
m a c h in e r y
in s t a n c e ,
in d e e d ,
s e lfis h
b e
t h a t
g u a r d
w illin g
w h ic h ,
g re s s
lit t le
s e v e r e
it .”
o u r
w o r ld
v e r y
o f
s in c e
e m b a r r a s s e d
lik e
t o
b u s in e s s
b r e a k in g
S ig n o r
r e p e t it io n ;
m e s s a g e
o u g h t
o r
p e r m a n e n t
T h e
is
t h e
o b r
C o r t e l y o u 's
o f
d ic t a t io n
t h e
o f
th is
fr o m
h a s
m ig h t
t o g e t h e r ,
p a n ic ,
a n d
in
t im e
a c t
b e e n
th e
o b v io u s
M r .
in te r e s t s .
h a v e
a t
h a v e
in
p e c u lia r
m a r k e ts —
a c t io n
a
t o
r e c e n t
w o u ld
E u r o p e a n
jo in t
a
a n y
a p p lie d
w e
o r
I n
p e c u lia r
o u r
m a r k e t
a
in
o w n
in
it .
b o u n d
s o r t
b u t
w h ic h
fin a n c ie r ,
s o m e t h in g
t h a t
in te r n a tio n a l
a n d
a id
th e
“ in te r
r e d u c e d
e m e r g e n c y .
b e
p la n ,
fr o m
a re
a ls o ,
t h e ir
t h a t
s a y
s o m e
t o
c o m m it t e e ,
L u z z a t t i’s
m a r k e ts
o f
s u p p o s e ,
a n d
w h e r e b y
w h o le
m o m e n t
C le a r in g -H o u s e
W
a
t h e
b e
t o
c a lls
d u r in g
c o n t e m p la t e s
a s
s e c o n d ,
p r o p o s it io n s ,
s ta te s m a n
c o -o p e r a t io n
m a r k e ts
m a r k e t
m ig h t
a b r o a d ,
I t a lia n
a n d
C o r t e ly o u
w h e r e b y
g o ld
u r g e d
th e
in te r n a tio n a l
b y
M r .
fir s t
s t r o n g ly
b y
e m e r g e n c ie s ,
w h a t
c e r t ific a t e s ” ,
T h e
p a n ic ,
[VOL. LXXXVII.
THE CHRONICLE
1504
t h a n
c a lle d ,
t w o
c o lu m n s
w it h o u t
a re
o c c u p ie d
e x a g g e r a t io n
in
b y
t e r m s ,
w h a t
m ig h t
a lm o s t
a n
Dec. 12 1908 |
in d ic t m e n t
th e
t o
r ig h t
o f
o f
in
b e
t h e
m a y
d a y
is
w o r k e r s .”
n o
a n d
h e a r in g ,
a n d
ca s e s
o f
th e
p r e lim in a r y
t o u r n iq u e t
t o
h o ld
u s e
m ig h t
b e
in te r im
I t
is
th is
a n d
a
im p r o p e r
a n d
r e p e a t e d ly
t o
m o s t
c o u r ts
th e
w e
sh a ll
p h ilo so p h y
s a m e
m o n th s
a g o ,
a n y
C lio
s o m e
c e r ta in
w a s
A
r a th e r
o f
t h e
s a id
th e
r u s h e s
s o m e
h a s
t o
m a d e
h is
w a s
o n
s e lf
a n d
b e in g
A d d e d
t o
h a s
m a n y ,
y e t
e v e r
in
is
a d d it io n
w a r d s
it
b r o o d
u p o n
w ith
a
t o
th e
th e
t w e n t ie t h
w h o
h o ld
o u tg ro w n
o f
p r im itiv e
G o m p e r s
t o
t o
b e
to
a
eco
e x p r e s s e d
w o r d s ,
c e r ta in
s e v e r a l
r e c e iv e
t a k e n
o n c e
n o
s e r i
w a s
fr o m
it s
m a y
th e
fr o m
t o
p a y
z e a l
o f
s u b je c t ,
t o
a
h im
o u t
a t
h e
v e r y
p o n d e r
o w n
o f
fo r
s tr e n u o u s
in
o n e ’s
m is ta k e s .
p o w e r .
a n d
a ll
a ll
O u r
n a tu r e
im a g in a t io n
c a tc h e s u p
it
a s
w h ic h
r e s tr a in in g
h a s a r e s tle s s n e s s o f
p o s it io n
a n d
o n c e .
t h e
b u s in e s s
t h e
ju s t
a lw a y s
s n a k e
o n e ’s
k n o w le d g e ,
a
c a r r y
la c k e d
t o
fu ll
o v e r b a la n c e d
fa b le d
fo r
g a it.
a n d
h e
a s
h e
if
W
it
n a tu r e .
p o s s ib le
o f
h a t
w e r e
ru s h e s
h o ld
it ,
e r r o r s
a n d
a
is
th is
t h a n
fo r w a r d
r e n e w a l
t o
T o
r e la
a b e y a n c e
c o u n t r y
is
n o t io n s
a n y
t h e
in
t o
t h e
o f
t o
it
fo r e ig n
v e r y
o f
o f
a
o f r e s p e c t
c a u tio u s
d e e p ly
a n y
g e n e r a t io n ;
r e tu r n
u n til
tr ia l
h im .
m a n
y e t
it
p e r io d
fo r
t h e
is
o f
o ld
r o o t e d .
a n d
I t
w ill
p le a s a n t
c a lm n e s s
is
o u t liv e
t o
lo o k
a n d
la w
e s ta b lis h e d
fo u n d a
tio n s .
C O N G R E S S M A N
F O W L E R
A N D
B A N K I N G
R E F O R M .
w o u ld
b e
a m u s in g ,
d is t u r b in g ,
I t
t o
o b s e r v e
a n d
o f
O u r
t im e
a ll
b e e n
t h e
fo r
t h o u s a n d s
e x e r c is e
o f
m e n t ,
a n d
m e n t.
T o
o f
t h e
m u s t
b e
a n d
life
is
“ a
th e
b y
a n d
lo t
o f
t h a t
th e
t h e
th is
a n d
p e t t y
t h e
o f
d e
s o v e r e ig n
s o v e r e ig n s
o f
o u r
r e fu s e
a p o s tle
o ld -fa s h io n e d
th e o r ie s
fo u n d e r s
G o v e r n
th is
b e
t h e
G o v e r n
h ig h ly
S ta te
m ig h t
a c c o r d in g ly
t h r o u g h
e m in e n t
in
t h a t
s u ffe r in g
c e n t r a liz e d
n e e d e d
s o m e
b e lie v e
o f
a n
t h e
fo r
b e e n
c u r e d
a
o f t h e m
n o t io n
e n t e r t a in e d
h a v e
p o w e r s
o f
a n d
F e d e r a lis m
t h r o u g h o u t
s o v e r e ig n ”
A
S o m e
s e r io u s
o f
h a s
b e
a n d
is
a ll-p o w e r fu l.
s o u n d ,
c a n
w h a t
s o
p o p u la c e
e x p r e s s io n
c u lt ,
t o
t h e
m a n k in d
p a r t ic u la r ly
t h e
s u ffic e .
c lin g
w e r e
m a k e
y e a r s
m o r e
u s e
n o t
s p ir it
s p r e a d in g
fu n c t io n s
m o d e r n
w ill n o t
m e n t
o f
w e r e
t h e
h ig h -p r ie s ts
w h ic h
t h e
n e w
v e lo p e d
t o
fr o m
it
is
p o lit ic a l
t r y in g
ills
if
h o w
p a t e r n a lis m
la n d .
t o
G o v e r n
in s t it u t io n s
a c t
w ith
th e
t h e
a d
o th e r s .
S o
p o s it iv e
o f
a n d
t h e
a n d
v o c ife r a t io n s
u n th in k in g
th e
a n d
s e p a r a te
S ta te s
th e
a n
o m n ip o t e n t
fa il.
A n d
a n d
t o
th e
t h a t
th e
p o p u la r
t o
t o
b e
T h e s e
t h o u g h t s
t h e
B a n k in g
C u r r e n c y
a n d
b a n k in g
n e e d s .
q u it e
a
t h e
s h o u ld
c r e a t e d
b y
is
o f
w h o le
s ta n c e s
n o w
t h e
t h a t
o f
th e
fe lt
a
t h o s e
w h o
o f
s u n s h in e
o f
a n d
n o t
t h o u g h t
o f
th e
fo r
b a n k in g
fa c t
la r g e r
b e s t
p la in .
t h a t
h e
F e d e r a l
in s t it u t io n s
w a s
o f
t h e
t o
o n e
s o
la s t
c ir c u m
N e w
J e r s e y
th e
h a s
M r .
a c t io n
r e c e n t ly
o f
M a r c h ,
fa r ,
c o n c e r n e d .
th e
C a n n o n ,
s h o u ld
s y m p a t h y
c o n t r o l,
a re
w h ic h
S p e a k e r
n e x t
n o
in
id e a s
in v e s tig a t io n
th e s e
H e
fo r
m e e ts
t h a t
g a v e
h is
C o m m is s io n
fr o m
o p p o s it io n
w h ic h
it
c o u n t r y ’s
le g is la t io n
A c t
b y
H o u s e
n ig h t
fo r e s ta ll
c a n d id a te
C o n g r e s s
h e
th e
u n d e r
t o
c o n
th e
M o n e t a r y
w h y
u p o n
w e
w e e k
e m b o d y in g
g e n t le m a n
in
o f
p a in s ta k in g
e n tir e ly
a
a s
th is
o n
fin a n c ia l
v e r y
c a lle d
h im s e lf
n e w
m o v e m e n t
o u r
e y e s
le a d e r s
r e a s o n
T u e s d a y
A ld r ic h -V r e e la n d
s u b je c t ,
is
o n
T h e
R e p r e s e n t a t iv e s
ig n o r a n c e
a s
a n d
e n a c t .
h o n o r a b le
b o d y
m a d e
s ta te m e n t
m a k in g
h a v e
a n n o u n c e d
in
th e
C o m m itt e e ,
c u r r e n c y
t h e
s e s s io n
p e r h a p s
n o t io n s ,
t h e
b y
C h a ir m a n
F o w le r
le n g t h y
r e g a r d in g
H o u s e
o f
h a v e
c a n n o t
r e fo r m
in v o lu n t a r ily
th e
M r .
C o n g r e s s
o f
w e
in
w a k e
in
th e
fo r t y -s ix
th e s e
n o w
b a s k in g
c o m e
F o w le r ,
s h o u ld
th e
p r o n o u n c e m e n t
C o n g r e s s m a n
t h e
o u t
w h o
o f
w h ic h
fa v o r ,
o f
m o r e
a p p r o v a l.
t e m p la t e
o u t
in
a n d
a n d
t a x e d
la s t
a g e n c y
b r o o d
fo llo w
m o v e m e n t
w ith
u n d e r
c o m p u n c t io n
a t
c a r r y
w h o le
m o r e
h a v e
w it h o u t
s u p p o s e d
t r u t h
w is d o m
H e r e
t o
o r
th e
fo r
c o lle c t iv e
o m n is c ie n t
a
a p p e a r
is
d e c la m a t io n s
s u r p r is in g ,
w h ic h
r e le g a te d
d e s ir e
a n x io u s
t h e
fa c t
th e
fa v o r ,
m u lt it u d e ,
h a s a r is e n
c r y
a u t h o r ity .
a n d
in
fin d
th e
fo r
n o t
P r o b le m s
a re
c e n tr a l
is
a re
th e ir
p a s s
I t
t h a t
b a ffie d
t o
t h a t
fr e q u e n t ly
m a s s e s .
a u t h o r ity .
in g e n u it y
m o r e o v e r ,
d o c tr in e s
c ir c u m s ta n c e s ,
F e d e r a l
o f
d o g m a t ic ,
n e w
t h e
a n im a l
w r o u g h t ,
d ir e c t io n s
a p p e a le d
t o
t h a t
h a s
in
a
c h a r a c te r is tic
h a v e
b e in g
o f
n a tu r a l
tr u th
is
t o
in
c o m p a c t ,
c le a r
s u b je c t
h im
w h ic h
h is
b u t
w h ic h
h e
s a id ,
r e m in d e d
d o u b t le s s ,
fo r
h u m a n
u p o n
fo r
lo n g
im p o s s ib le
t o
t h e
s ta r te d
u n h a p p ily
s u it e d
o c c u r s
th e
a
n o t
o p p o s it e
c o m e s
n o t
a n d
T e n n e s s e e , o f
th is
a s
h a s
a b o u t
o f
d e p e n d
t h e
e x a c t
a s
a w a y
t h a t
d o u b tle s s
is
b e
n ot
C a r m a c k
o f
p e r m itt e d
id e a
it
a n d
th is m is fo r t u n e , h e
la te s t
n e w
g o in g
w h ic h
w h ic h
I t
c o u n s e l
P r e s id e n t
in
t a lk
t o
H o w e v e r ,
s t r o n g e r
le g is la tio n
th is
d is tin g u is h in g
im p o s s ib le
r e tir in g
c o u r t s
c a n n o t
ju d g e s
r e su lt
th e s e
o n ly
d e fe c t
g o o d
in s is te d
in flu e n c e
o u r
R o o s e v e lt
th e
e x c e s s .
in c id e n ta l
m o t io n
M r .
c o m e s
p e r p e tu a l
h a s
b o d y .
e p ig r a m ,
F o r
a b o u t
d e c is io n s
d u r in g
a n d
d is m is s
r u n n in g
w h ic h
a p p lic a tio n .
in
“ th e
S a m u e l
in h is S t a t e o f
th a t
t h e
q u e s tio n s
th e
a lm o s t
C o n g r e s s
s h a r p
w it
M r .
in
th a t
h o rs e
it
to
e x -S e n a t o r
s p e e c h ,
s a id
le g is
o p in io n s
p h ilo s o p h y ;
itse lf
le g is la tiv e
la t e
rea son s
p la in ly
a n d
b e
in te r p r e
e m o t io n a l
p e o p le
m o st
w e
fr o m
b y
s o c ia l
o u r
w a s
a n d
h a d .
“ C h r o n ic le ”
t h a t
t h a t
p h ilo so p h y
n o t io n ,
a tte n tio n
o u s ly
a n d
o f
c o n d itio n s .”
n o m ic
m a y
t h e m s e lv e s
p a r a g r a p h
s o c ia l
ow e
w h ic h
b e
th e se
a n d
p r o v e d
v o c a t e s
a n d
a n d
c e n tu ry
th e
la w
q u it e
o n ly
o f
w h ic h
in
c a n
fo r
th e
r e a d e r s
w o r k
“ a
th e ir
b u t
q u e s tio n s
d e c la r a t io n
p r o g r e s s
c e n t u r y
h a v e
T h e
b a d .
e c o n o m ic
tw e n tie th
is
th e
a r te r y ,
in ju r y
s tr a in e d
t o
la w s ;
th e
is
(a s
b e e n
u n d o n e ,
n o t
it
it s
a n
t h a t
a
b e e n
c o m e s .
p r o c e d u r e
b y
h a s
h a v e
s e v e r e d
b e
h a s
1505
r u le
e x t e m p o r iz e d
a
n o t
t h e
a n a lo g y ,
th e
a r r o g a te
e x t r a o r d in a r y
is
o n
it
e c o n o m ic
p e a c e fu l
th is
u p s e t
b e c a u s e
n o t
o f
r o u g h
s h o u ld
J u d g e s
e ffe c t
r e m in d e d
c o u r ts
th e ir
d o
w o u ld
s u r g e o n
s a y
it
d o )
c o n s titu tio n a l
T h e
th e
b u t
c o u r ts
fu n c tio n s .
w is d o m
m e r e ly
t o
in ju r y
b e e n
th e r e
p r e v e n t
u n c o n s t it u t io n a l
O u r
e x p e c te d
t o
p e r m a n e n t
s o m e tim e s
te r p r e t
t h e
c o u ld
n e e d le s s
t a t io n .”
la t iv e
o n ly
a
a b o v e
u n til
a n d
th a t
t h e y
a p p lie d
w r it ,
w r o u g h t
u s e
s a y
n o t ic e
in s ta n c e
t h a t
t o
w it h o u t
o n e
n o t
b e e n
w a g e
s u p e r flu o u s
h a s
r e s e m b le s
s itu a tio n
d e c la r e d
th e
a
a s s e r tio n
a
h o u r s
o f
th is
T o
s e e m s
u n w is e
b e
a n d
o f
w h ic h
o f
h a v e
ir r e p a r a b le
e x a c t ly
t h e
is
t io n s ,
p e o p le
w h a t
w h ic h
is s u e ,
c o n t r a r y .
b e fo r e
a ls o
w h e r e
s in c e
it
s h o u ld
t h a t
d u r in g
r ig h ts
t h a t
e x t e n d s
n u m b e r
th e
in ju n c t io n
t h e
c o u r ts
t o
c o u r ts
s u p p o r t
o f
o r d e r
“ e x c e p t
a n d
w o r k
s e v e r a l
in ju n c t io n s ,
r e s u lt ,”
p r a c tic e
in
o f
d e tr im e n ta l
t o
t o
e x c e s s iv e
o n e
a ffir m in g
C o n s t it u t io n ,
o c c u p a t io n s
a n
a s
r e s t r a in in g
o th e r w is e
c it e d
d e e m
A s
d e c is io n
t h e
fo r b id d e n
n a m e d
“ e x c e e d in g ly
th a t
T h e
u n d e r
h a z a r d o u s
la w fu lly
le g is la t u r e
in
c o u r t s .
c o n t r a c t ,
w o r k in g
c a n n o t
th e
THE CHRONICLE
a n d
b e
w ith
a t
B e
in
th e
le a s t ,
t h a t
________TH E CHI LONICLE
150C _____________
a s
it
m a y ,
th a t
g re a t
u p o n
t h e
H is
p e o p le
t h e
is
n o t
t h e
e s t
o u r s e lv e s
in
a
s u p r e m e
a
h e
a s k s ,
m e n a c e s
t h e
b u s in e s s
c o u r s e
B a n k in g
b e
t o
U n ite d
sin g le
s t it u t io n s .
t h e
t im e
o u r
S t a te
h e
s ta te s ,
r e s e r v e s
h a d
w e r e
p r e v e n t
a
d o
b e
a n d
w h a t
d id ,
o f
N e w
a b o u t
b a n k
it
o f
w h a t
t h e
T h e
p a n ic
te lls
u s ,
b a n k in g
in
la s t
tr u s t
5 %
a u t u m n
c o m p a n ie s ,
a n d
e v e n
H o w
t h a t
la w
o f
a n d
B u t
t h e
d e c la r e s
t h a t
“ o n e
r e m e d y
m u s t
b e
N e w
a n s w e r
th e
k e e p in g
fr o m
a lo n e
u n ifo r m
c a n
a re
s e c o n d
t h a t
th e
in v e s te d
c h a r a c te r
H e
g o e s
o n ly
s a y
a n d
t o
a
t h ir d
t w e n t y
p a n y
in
it
a
b e
a d m in is
e n te r p r is e s ,
s c h e m in g
r e ite r a te s
m in is tr a tio n
o f
a p p lic a t io n
fa b r ic
o f
fu s io n
b y
t h e
b y
lo o s e
H e
fa r e
th e
th e n
o f
th e
s io n
m ig h t
c h a n g in g
s u p r e m e
it
s o
la w
“ a ll”
d o e s
S ta te
w h e r e
w h o le
b e
t o
is
G u lf.
d e v e lo p e d
t h e
b e
“ a n d
n o t
a n d
b e
u n ifo r m
s e c u r e d
th r o u g h
s in c e
p a n ic s .
th e
b y
a
in to
th e
u n ifo r m
w h o le
t h r o w n
a d
b a n k in g
u tte r
tr u s t s , a n d
c o n
e s p e c ia lly
th e
t o
t h e
m in d ,
p h r a s e ,
la w ,”
a n d
“ T h e
is
h e
h e
th e
o f
t o
t e lls
o f
a d d s
t h e
lo c a t e d ,
A t la n t ic
I n d e e d ,
s h o w in g
s a y s
p r o t e c t io n
p e o p le
h e w e l
h o w
e x p r e s
in te r p r e t a t io n
T h e n
b a n k
U
in
is
o v e r
th e
o f
S ta te
t io n s
m u s t
s e r v a tiv e
n o t
g o
in to
t h e
u s ,
a ll
c it y
b u t
is
th e
th is
o r
th e
r a th e r
P a c ific ,
th e
fr o m
c o n fid e n t ia lly
d e t a ils ,
C o n s t it u t io n ,
fo r
o f
P e r h a p s
t h e
d e p o s it o r ,
T h is
is
w h ic h
t o
b e
b e e n
a
c o n
F o w le r
o f
d o e s
o f
d o in g
b e
c o u ld
m a d e
ju r is p r u d e n c e ”
a n d
fin d
a
c a n
U n it e d
y e o m a n
c a n
s h o u ld
b e
it
th e
r e s o u r c e
c o u r t s
t h a t
in s t it u
c o n v in c e d
C la u s e
th e
e x t e n d e d
S ta te
M r .
is
u n i
is
m a n d a te
in
c e n t r a liz a t io n ,
th is
“ th e
s e c u r it ie s
e v id e n t ly
h a s
w a s
H o w
th e
s p e c ifie d
w h ic h
la s t,
r e fe r s
s e a s o n .
a b o u t ?
h o w
o f
c o m p o s in g
fu n d
la s t
C o m m e r c e
t h e
m u t u a lit y
e v id e n t ly
e n fo r c e d ?
p e r c h a n c e
c o u r s e
s o m e
t o
F e d e r a l
a s k
T h e y
w ill
m a y
fa ilu r e s
m a k e
b a n k
fu r th e r
ju s t
fo r
th e
la w
is
n o te
m a d e
n o t
t o
b e
a d o p t
s o lu t io n
a n d
s a m e
n o
a
t h a n
b a n k
e x a m in e r s
h u m a n
d u t y
t h e
a
in
ju s t
a
n e w
t o
b e
t o
b e
a s
t u r n e d —
a
b e t t e r
t o
b e
t o
s e e in g
a n d
g e n u in e n e s s
th e
b a n k ?
B u t
w h y
e n t e r t a in
o f
m e n t
t h e
r e tu r n
t o
th e
w ith
fir s t
m u s t
b e
a re
o n
w e
m u s t
in te g r it y
W
d o in g
a n y
Is
n o t
p u t
o f
a
m o r e
t h e
k n o w
th a t
le a f
th e r e
o f
n o t
e a c h
h a s
n o t
q u e s tio n s
t o
o f
o u r
tr u s t
o f
in
h y
a g e s
th e
G o v e r n
p r o p e r ly
n e e d
W
th e
c e n tr a l
th e
p a p e r
fu r th e r ?
o f
th e
a s s u m e d
c e r t ify
p ie c e
t o
w it h
t h e ir
is
n o t
A r e
a n d
e x p e r ie n c e
n o t
e
n e w
g iv e n ,
e v e r y
t h a t
p r in c ip le s ?
a
2 9
t h in g s
p o s s e s s
d e v o t io n
o c c a s io n
o f
T h e
Is
n a t io n a l
o f
c a t e c h iz e d ,
s u b je c t
d u tie s
c ite
o f
e x a m in a tio n s ?
th e
a u th o r itie s .
b a d
e v e n
c h a n g e d ,
t h a t
s e r ie s
s ig n a tu r e s
F e d e r a l
a n d
o ffic ia ls
t u r n e d .
o th e r
d e lu s io n s ?
e v e n
c h a r g e d
lo c a l
t h e
m a y
b e
t h e
d ir e c to r s
a m o n g
t o
a n d
o n
a
th e
la c k
g o
o ffic ia l
N a tio n a l
o ffic ia ls .
is
b a n k
fo r c ib ly
t h e
a n d
b e e n
a n s w e r s
t h a t
o r
o f
fr a m e d
p u r s u e
v a in
d e m o n s tr a te s
e ffic ie n c y
if
c a n
F e d e r a l
m a y
in d ic t m e n t
c r im e
le c t u r in g
S ta te
h e r e a ft e r ,
t h a t
th a t
c a n n o t
b a n k
th e
T h e y
th is
a ll
r e c e n t
T h e y
u n d e r
a g a in s t
o ffic e ,
a lr e a d y
c a t e g o r ic a l
d u tie s
a s
in
s y s t e m
C o m p tr o lle r
w h ic h
is
a re
l a w '.
a ll
v e r y
e v id e n c e
h o n e s t.
fa llib ilit y
t h a t
h a s
d ir e c to r s
e x a m in a t io n ,
th e
b e
a s
v io la t in g
t h a t
m a d e
G o v e r n m e n t
s e v e r e
c e r t a in ly
w ill
if
s e v e r a l
e v id e n c in g
s h o w
C o m p tr o lle r
b a n k
a ll
o f
th e
th a t
p r o m in e n t
o f
r e c e n t
t o
h a v e
t h in k in g
a d m in is t r a t io n .
c it y
o th e r s
S ta te
e le m e n t
a n s w e r
a n d
d e te r r e n t
C o m p tr o lle r ’s
t h e
t o
th is
v e r y
s e v e r a l
o ffe n c e ,
m o r e
m a n a g e m e n t
t h e
a
c o n v ic t e d
L a w
w ill
fo r
S t a te
c e n t r a l
w is e
t h a t
b e e n
in
t h e
m a n a g e r s
a n d
t o
p o in t
b a n k s
o f
is
a d m in is t r a t io n ,
u n lik e ly
p o w e r
th e r e
s u p e r io r
n a t io n a l
th e
T h o m a s e s
r e a s o n
a n d
b e
n o t
o f
e v e n
h a s
d o u b t in g
w h a t
s u p e r v is io n
e m b r a c in g ,
a
t o
w ill
w a y .
t e m e r it y
t o
lo s s
d e p o s it e d
t h e a d v o c a t e s o f
“ c o n s t r u c tiv e
in
a n d
b u t
S ta te s
a v a ila b le ,
o f
u n its
G o v e r n m e n t
b e
th e
o f
s a fe t y ,
s o lv e n c y ,
a d m in is t r a t io n ,”
in
t o
o f
im p o s s ib le .”
b r o u g h t
m a s s e s
s e r v ic e
t o
b e
in v e s te d
I f
d e g r e e
a
o n ly
“ c a r r y
s u p e r v is io n ,
g u a r a n t y
F e d e r a l
P e r h a p s
a p p ly .
b e
u n ifi
m u s t
c o n t in u e d
a
b ill
s in g le
to
c h a r a c te r
d o n e .
m a y
“ th e
in te r e s t
in d iv id u a l
d o lla r
th e
b e
t h e
m a k e
in s t it u t io n s ,
o f
A c t
r e s p o n s ib ilit y ,”
“ o n e
t h e
s a v in g s
in
fo r
b a n k in g
t h e
t h a t
th is
fo r
th e
t o
o f
h is
w h o
a c c o m p lis h e d
t h o r o u g h
n o t e h o ld e r ,
s u p e r v is io n ”
a u t h o r ity
b y
t h a t
“ p r o v id e
th e
th o s e
b e
t h a t
b y
b e tw e e n
t o
c a n
g u a r a n t y
5 0 0 -m illio n
H o w
fo r m
A c t ,”
s u ffic ie n t
a s
p r o p o s e d
v ie w
c i t y .”
la n d .”
t h e
c o m
s h o u ld
p r e c ip ita te
b r o a d e r
r e a d
e n o r
tr u s t
u n h e a lt h y
s u p r e m e
a
b a n k
p r o m o t io n
o n ly
h is
th e
th e
t h e
a n d
b e
o f
a s th e
t o
c a n
m o r e
fa ilin g
fr o m
c o n
d e v e lo p in g
a b u s iv e
t h e
in
m e a n
th e
th e
t o
th e
n o t
p e o p le ,
C a n a d a
a s
s p e c u
b e
D u r in g
fu n d s
p r o p e r
s in g le
g iv e n
o f
w h ic h ,
a n d
a c c o u n ts
p r in c ip le s
o n c e
lin g e r s
“ h a s
a
m a y
a n y
p e o p le
a
s a v in g s
s h o u ld
p h a s e
tr u s t
e s s e n t ia l,
m e t h o d s ,
in
r e tu r n s
t h o u g h t
a ll
tr u s ts
is
c a n
b y
a ls o
a ll
d e c la r a t io n
r e s tr ic tio n s
“ m u t u a lit y
t o
t h e
s y s t e m
e n fo r c e d
h ig h e s t
B a n k in g
s p e c u la to r s
c o u n t r y
d is h o n e s ty
n e w
t h e r e b y
s o u n d
t h is
b a n k s ,
n a m e d .
o u t ,
“ s u c h
a ll
o f
a n d
sy ste m ,
is
in t u r n b r e e d
t h a t
S ta te s
c o m m e r c ia l
c o m m e r c ia l
b y
c o n d it io n s , w h ic h
e n d
r e c e iv in g
a c c o u n ts
S ta te s
p u r p o s e s .”
U n it e d
S ta te s , k n o w n
th e
d iv e r t e d
t h e ir
th e
c o n s e r v a t iv e
b e d e s ir e d
b e e n
fo r
H e n c e
fr o m
a ll
a
c o m m e r c ia l
h a v e
p o in t e d
o f
H e
th e
s h o u ld
in v e s tm e n t s .”
U n it e d
b u s in e s s .”
s e g r e g a te d
th e
s u c h
“ w e
s p e c u la t iv e
d is t in c t ly
is
t h e
in
o f
a ll t o
r e q u ir e m e n t
y e a r s
b u s in e s s ,
m o u s ly
a ll
t h e m
w h e n
c o n s e r v a t iv e
Y e t
fo r
y e a r s
u s in g
a s s e r ts ,
m a s s e s
“ T h is
o f
fe w
p u r p o s e s
fin e d
th e
t h r o u g h o u t
p a s t
h e
s e c u r itie s
u s e d
t h a t
s u p e r v is io n
a c c o u n ts ,
o f
s p e c ifie d
n o t
t o
th e
la t iv e
in g
s a v in g s
s e c u r e d
u n ifo r m
la s t
r e q u ir e m e n t ,
in
a n d
o n
b e
d u r in g
w e ll
w it h
a n d
s y s t e m
a s
t h a t
t h e
k n o w
m u s t
t o
tr a tio n .”
A s
a n d
b e
S ta te s
C o n g r e s s m a n
b y
t o
Y o r k
o t h e r
r e q u ir e
th e
t h in g
o f
m a n y
w e
T o
th e
L e g is la tu r e
th e s e
c a n
s a m e c o n d it io n ?
a p p e a r
t h e
t h e
a n d
n o te s .
le g is la tu r e s
r e s e r v e s .
J e r s e y
th is
w o u ld
a m e n d
la r g e r
m a d e .
t o
ju s t
n a m e ly
t h e
in
th e
h e
th e
o f
in
d o n e ,
a ll
b a n k s
q u a n t it y
in s titu tio n
b e
fa lle n
m in d
w o u ld
d id
o f
F ir s t w e s h o u ld
t h e
th e
in c lu d e s
in d ir e c t ly .”
n a tio n a l
b e in g
g iv e
th e
H o u s e
“ it
o r
b a n k in g
r e s p o n s ib ilit y
c o u n tr y .
a n d
o f
la r g e ly
r e c u r r e n c e
u n t u t o r e d
w h ic h
b a n k in g
o n ly
p i o t e c t
th e
a
w h ic h ,
c o n s e
o f
o u r
lim it a t io n s
w h o
d ir e
a n s w e r .
a d m in istr a tio n
in
th e
o f
t h r o u g h
d is t u r b a n c e
C h a ir m a n
q u a lit y
w e
t h a t
d ir e c t ly
c o n c lu d e s
c a t io n
fu r n is h e s
th o s e
c a n
fr o m
w h o le
ev ery
A t
r e s e r v e s
H o w
r e a d y
c a n
o f
w e r e ,
H e
o f
“ S a lu s
t h e n
b e n e fit
lo c a l
t h e
t h e
in
T h is
S ta te s.
on e
t h e
t h e
s e n s e
o f
w itn e s s .
it
a ffe c t e d
r e s tin g
w e lfa r e
a n d
a s
fe e ls
t h e e ffe c t t h a t “ t h e w e lfa r e
a n y
b o t h
r e s e r v e s
t o
h e
a re
t h e
c r ie s ,
d is tin g u is h e d
k n o w
b a n k
b y
t h e
o f
C o m m it t e e h a s a
a b le
b u r d e n s
la w .
n a t io n a l
q u e n c e ,
t h e
h e
fo r
e v id e n t
fo r
p a in fu l
le x ” ,
tr a n s la t io n
is
it
a n d
u n d e r s t a n d L a t in , t o
p e o p le
O f
m a k e
s o lic it u d e
a lm o s t
s u p r e m a
E n g lis h
d o
u tte r a n c e s
r e s p o n s ib ilitie s
h im .
p o p u li
o f
h is
lVol . lxxxvi i .
b e lo n g
th e
h o u r
Dec. 12 1908. |
THE CHRONICLE
r ig h ts ,
H O W
T H E
T h e
t h e
U N I O N
U n io n
v ie w
t o
P a c ific
r e p o r t
s e e in g
h o w
p a s s e d
th r o u g h
r e s u lts
d is c lo s e d
a s
is
k n o w n ,
h o ld e r s ,
a n d
a llo w in g
fo r
o p e r a tio n s
o f
is
o f
o f
im p o r ta n t
fin a l
a t
q u ic k ly
o f
o th e r
T h e
fir s t
o f
th e
n et
r e s u lts ,
t h e r e b y
fe lt
d e c lin e d
in c r e a s e d
w ip in g
o u t
th e
(w e
g r o s s ),
in
r e p o r t
t w o
la r g e
a n d
o p e r a t io n s .
a re
r e fe r r in g
t o
t h e
m o s t
n o t e w o r t h y
g r e a te r
o f
t h e
w h ile
a
t h e
c o n d u c t
b u s i
o p e r a t io n s
o u t s id e
h e a v ily
th e
o f
h a s
r a ilr o a d
o f
s u p p o s it io n
s c r u t in y
s e c o n d
p a r t
th e
o f
th e
t r a n s p o r t a t io n
b u s in e s s .
O w in g
t o
in c o m e ,
b o t h
p e n d e n t ,
in
th e
it
r e c e n t
fa c t
o f
v e r y
h a s
y e a r s
t h a t
la r g e
b e e n
t o
th e
m a n n e r ,
d iv id e n d s
o f
o u t
a g a in s t
W h e n
is
it
t r ib u t in g
d o e s
n o t
p a n y ’s
fa c t ,
s t a te d ,
1 0 %
p e r
th a t
d iv id e n d
o p e r a tio n s
a
s u r p lu s
o f
is
$ 3 ,9 8 8 ,5 7 6 .
s u r p lu s
6%
fr o m
t h e n ,
is
th e
o th e r
P a c ific
r a ilr o a d
in c o m e
th e r e
$ 1 1 ,4 7 0 ,1 3 0 .
u p
I n
y e a r
w a s
d e n d s
&
s o m e
t h e
in v e s tm e n ts
1 9 0 7 -
0 8
s to c k s
h e ld
o f
th e
b e
o f
in
4 %
w a s
o f
d iv id e n d s
$ 3 ,6 5 0 ,9 1 5 ,
a b o v e
th e
4 %
a
a t
fu ll
th e
t h e
&
a
C e n tr a l
y e a r ’s
o f
fr o m
in
th e
d iv id e n d
th e
a c q u ir e d
t h e
o u t s id e
p r e v io u s
fu ll
d iv i
in
F e ,
B a lt i
t h e
s h a r e s .
th e
o n
p r e v io u s
th e
th e
S t a te d
in c o m e
c o lle c t io n
u n d e r
fis c a l
y e a r ’s
n o t a b ly
S a n ta
$ 4 ,5 4 9 ,5 6 0
c lo s e
in
in v e s tm e n t s ,
m a in ly
s u b s e q u e n t ly
in
r e a liz e d
I llin o is
o f
r e s u lte d
t h a t
n o t
T o p e k a
th e
in c r e a s e
in c r e a s e
fr o m
d u r in g
a n d
o n
s u b s c r ip t io n
th e
s h o w
fo r
w o u ld
t h e
w e
I n
e q u a l
t h a t
b e t te r
o th e r s
in
J u ly
is
h a s
1
y e a r
t o
b e e n
d o n e
t o t a l
T h e
a lm o s t
t h e
t h e
t h e
g a in s
w h ile
in d u s t r ia l
h a d
d u r in g
in c lu s iv e ,
a g a in s t
t h e
w h o le
W h ile
ta in in g
th e
in c r e a s e
in
in
a d d it io n
y e a r ,
y e a r ,
h a v e
b e
s ix
r e
b e e n
a s s u m e d ,
t h e
e ffe c ts
o c c u r r e d
m o n t h s
w a y ,
fir s t
b u t
s ix
its
v e r y
m o n th s
p r o s p e r o u s .
J a n u a r y
T h e
t o
J u n e ,
$ 4 ,1 2 5 ,0 1 9 .
fir s t
s h r in k a g e
$ 7 6 ,
e v e r
w h ic h
th e
t h a t
w Ta s
fe e l
t h a n
th e
t o
A s
s ix
fo r
A s
m o n t h s
t h e
w a s
y e a r
t h e
T h e
w it h
t h e
c o m b in e d
a s
in
t h e
a d d it io n
t h e
t o o ,
a
b y
fu n d e d
a m o u n t ,
in
a
m a in
s u ffe r e d
fr o m
p r o d u c e d
p a n y ’s
r o s e
it
t o
p r e v io u s
w ith
h a p p e n e d ,
c o m
c h a r g e s
fo r t u n a t e
e a r n in g s ,
s y s te m s
c o s t .
r e v e n u e ,
it
t h u s
g r o s s
la r g e
c o m p a r e d
T h is ,
w a s
its
o th e r
g ro s s
fix e d
o f
o p e r a t in g
a s
$ 1 ,9 1 3 ,2 3 8 .
c r e a s e
th e
c o m p a n y
le v e l
w ith
ta x e s
le s s
fo u n d
t o
n o t
s till
th e
$ 2 6 9 ,3 7 3 .
th e
c o m m o n
n o
in c r e a s e
is
s e e n
fr o m
fo r
p r e v io u s
n o t
a ll
in to
c la s s ific a t io n .
la r g e s t
la s t
w re r e
m o n t h s
le a v in g
o n ly
t h e
m a r k e d
d u r in g
in te r e s ts
s ix
th e
p u t
a c c o u n tin g ;
it
b u s in e s s
v e r y
I n t e r
lik e
t o
r e v ie w
v e r y
d id
D u r in g
r e a c h e d
th is
fo r
in
t h e
o f
u n d e r
it
fa r e d
c o m p a n ie s .
a c c o u n ts
s a m e
m u s t
a c c r u e d
t h e
th e
th u s
I t
r e s u lt s ,
P a c ific
o b lig e d
t h e
t h e
is
a
in c o m e
d iv id e n d
c o m p a n y ,
r e p o r t , a n d
b e e n
in
t h e
o f
s y s t e m
y e a r
o ff
s im p ly
1 0 %
r a ilr o a d
w a s
w ith
s lu m p
y e a r .
a ll
th e
e q u i
c a p ita l
h e r e
U n io n
t h e
c o m p a n y
d e c lin e d
la r g e
t h e
$ 7 6 ,3 0 8 ,5 9 8
h a d
tr e m e n d o u s
d u r in g
t h e
n e w
th e
fa llin g
t h a t
o f
a b o v e
r e -s ta te
t h e
in s ig n ific a n t.
h o w e v e r ,
a n d
in
fo r
a g a in s t
t h e
a
t o
fo r
t h e
p a n y ’s
r e q u ir e m e n ts
a c c o r d
r e v e n u e
c o r d e d .
lo s s
1 9 0 7
is
.
S ta te s ,
n e c e s s a r y
a n d
$ 4 ,0 7 5 ,0 0 0
a p p lie d
t a k e n
C o m m is s io n ,
U n it e d
a p a r t
im p r o v e m e n t s
c o m
la r g e
t h e
s e t
o f
o n
C o m p a n y
T h e
t r a n s p o r t a t io n
m o s t
w it h
C o ., a re
im p r o v e m e n t
m a tt e r
r e c e ip t s
t h a n
t h e
g r o s s
w h e n
o f
g r o s s
C o m m e r c e
8 %
th e
a c c o u n t
R a ilr o a d
th e
t h e
d iv id e n d s
$ 4 ,0 7 5 ,0 0 0
w re r e
fr o m
R a ilr o a d
a p p e r ta in in g
o n
fo r
fo r .
t h e
th e
G r a n t
p r o v is io n s
P a c ific
w a s
s u r p lu s
n o w
in
p a id
o n
a lto g e th e r
a c c o r d a n c e
S ta te
2 %
a c c o u n t
C o n s id e r in g
th e
D u r
L a n d
t a x e s
t e ll
fr o m
p r o c e e d s
c a s h
tr u s te e
s o u r c e , t h e
&
o n
p a id ,
r e s u lt s .
r e c e iv e d
a
6 %
n o t
r e c e iv e d
n e t
a n d
T h is
w a s
d o e s
b e t te r m e n t s ,
m e n t io n
t h a t , if
t h is
L a n d
a s
o v e r
1 0 %
U n io n
P a c ific
t o
0
1 0 %
w h ile
b o n d s , a n d
n o t o th e r w is e
a n o th e r
e v e r y
th e
t w
t h e
o u t s t a n d in g
U n d e r t h e
t h e
r e im b u r s e
m e n t io n e d .
in v e s tm e n t $ 2 ,1 8 2 ,6 1 1 .
y e a r
t o
e q u a l
R a ilr o a d
t h e
tr u s te e
p u r p o s e s
s o u r c e r e v e n u e s
p r e
b y
t h e
a b o v e
fa v o r a b le
m o n e y
U n io n
th e
t o ,
t o
o f
fr o m
fr o m
is
c o m p a n y
e x p e n s e s
r e c e iv e d
0 3 9 ,2 2 5 ,
ite m
in
L o s
s t o c k
e v e n
F ir s t
o f
e x p e n d itu r e s
$ 3 ,8 5 5 ,6 4 5 ,
im p o r t a n t
a n d
e q u ip m e n t
t o
t h e
fr o m
a n d
p a id ,
y e a r ’s
o f
s u m s
fu n d
a n y
o v e r
o f $ 4 ,0 7 5 ,0 0 0 .
t h e
a n d
m a k e
t h e
a ll
fo r
t h e
I n
y e a r ’s
P e d r o
a c q u ir e d
r e m a in in g
w o r d s ,
r e fe r r e d
b y
e q u ip m e n t
T h is
C o n
s u m
o f
th e
U n it e d
a
S a n
b o n d s
B u t
b e lo n g in g
a p p lie d
H e r e ,
o f
t h e
p r in c ip a l
s t o c k
a n d
o f
p a y m e n t
o r
o v e r
t h a t
w h ile
in c o m e
in te r e s t
o t h e r
c o m p a n y ’s
a n d
p r e c e d in g
w a y .
fr o m
r e m a in in g
la r g e
s a id
h a d
A tc h is o n
O h io
b r ie f,
s to c k s
o f
s h o u ld
t h e
c la s s
s u r p lu s
a fte r
t h e r e t o ,
th e
t r a n s p o r t a t io n
t h e
C o .,
h a n d ,
c o r r e s p o n d in g
o v e r
th e
la n d s
it
th e
m a r k e d
H e n c e ,
o f
o n
$ 8 ,2 0 0 ,1 7 5 .
c o m p a n y
o n
o f
m o r e
in
it
th e
t h e
a v a ila b le
t h is
t h e
e x p la n a t io n
in c o m e ,
ca s e
s u r p lu s
y e a r
m o s t
s a le
h e n c e
o n e ,
a d d e d
c o m m o n
m o n t h s ,
m o r t g a g e
e ffe c t
e x p e r ie n c e
fr o m
th e
,
6 %
q u e s t io n .
a v a ila b le
1 9 0 7 -0 8
a g a in s t
la te
d iv id e n d
a
in
o f
r a th e r
o f
4 %
b e in g
o f
e a r n e d .
s t o r y
t w e lv e
M o r tg a g e th e
th e
I n
w a s
w h o le
t h e
tr u s te e
o f
a re
1 9 0 8 .
a m o u n t
th is
in
fig u r e s
t h r o u g h o u t
y e a r
t h a n
b e e n
$ 1 6 ,0 1 9 ,6 9 1 .
y e a r t h e
th e
in
h a d
F o r
w a s
c h a r g e d
fo r
o t h e r
in c r e a s e d
0 7
t h e
t h e
1 6 %
t h is
c o m
n o t e w o r t h y
r e p e a tin g
fo r
fo r
th e
a
o v e r
a p p e a r s
t r a n s p o r t a t io n
o th e r
a n d
w h ic h
3 0
d is
m a tt e r
$ 8 ,9 9 5 ,9 7 0 .
w a s
c o m p a n ie s
r e s p e c t
t h e
o p e r a tio n s
v io u s
th u s
a
th e
o p e r a tio n s
o c c u r r e d ,
is
R R .
c o m b in e d
$ 1 9 5 ,5 0 8 ,0 0 0
J u n e
in c o m e .
o f
1 9 0 7 -0 8
t h e
t h a n
s h r in k a g e
t h a t
o n
le s s
lo s s
t r a r iw is e ,
in c o m e
n o
A s .
o f
t r a n s p o r t a t io n
w a s
th e
in
1 9 0 6 -
1 9 0 6 -0 7 ,
o u t
a n
th e
s h a r e h o ld e r s ,
a llo w in g
b u s in e s s
in
r e s p e c t iv e
o f
c o m p a n y
p a id
t h e
o f
t w o
a g a in s t
A fte r
t h e
th e
la r g e
S ta te s
.
u p
th a t
U n io n
t h e
b e in g
w h e r e
p la in
t h e
t o
is
d iv id e n d s
o n
a n d
o f
b e
$ 2 0 ,0 0 0 ,0 0 0
s u r p lu s
in c o m e
v a le n t
s o u r c e s
th e
o f
s t o c k ,
o th e r
a ls o
t h e
L a k e
$ 1 2 ,1 8 8 ,7 5 2
in d e
p o r t io n
th e
o p e r a t io n s .
6 %
I n
d iv id e n d
it
a n n u m
1 0 %
o n
u p
o f
S a lt
m a n a g e m e n t
th e
a
r e s p e c t iv e
c h a r g e d
o n ly
r e m a in s
fr o m
s o u r c e s
s h a r p ly
th e
p a y
t h a t
t w o
a n d
o f
o n e
t o
c h a r g in g
tw o
t r a n s p o r t a t io n
t h e
th e
t h e r e fo r e ,
m e a n
th e s e
a m o u n t
a n d
e a c h ,
th e
a re
p r a c t ic e
s e p a r a te
u n m is ta k a b le
p o r t io n s
th e r e
T h e
in g
th is
&
s o u r c e s
th e
m u s t
o n
c o m p a n y .
c o m
t h a t
in flu e n c e
c o m p a n y
o f
w h ic h
($ 8 0 0 ,0 0 0 )
A n g e le s
o p e r a
th is
a
th e
s u m
t h e
a p p e a r
s u c h
a n d
a fte r
o n
la r g e
o n
F r o m
t h e
a n d
fr o m
n o t
fr o m
th e
c o u r s e ,
T h e
o n e
in c o m e
lo s s
in
s h a r e
r e m a in s
s u r p lu s
m ig h t
in v e s tm e n ts
th e s e
o f
w a y ,
n e t
fr o m
n o t
O f
it .
th e
s o u r c e
h a d
it
t h e
t h a t ,
t o
te r e s t
T h e
c o m p a n y ,
t o
s h o w s
$ 1 2 ,6 4 6 ,8 8 5 .
r e s u lt s ,
in c o m e ,
T h e
s u r p lu s
m o n th s
w ith
p r o p e r t y
d e p r e s s io n .
d iv id e n d s
a
c h ie fly
r a ilr o a d
a c c o u n t
e r r o n e o u s ,
d is p e ls
s o u r c e s
1 0 %
a ll.
e n t ir e ly
s t u d ie d
e x t r e m e
c o r r e s p o n d in g
w a s
D E P R E S S I O N
m a r v e lo u s .
t w e lv e
c o m p a n y
b e
b e
g r e a t
d iv id e n d s ,
T h e
d e p r e s s io n
w o u ld
o f
in c o m e
t h e
th e
w ill
t r u ly
p a y in g
th e s e
S T O O D
th is
y e a r
a re
1 9 0 6 -0 7
p a r is o n
n e s s
a
th e
$ 1 2 ,1 8 8 ,7 5 2 .
t io n s
P A C I F I C
1507
e x p e n s e s
y e a r
r e a c h e d
$ 2 6 9 ,3 7 3
lo s s
in
r e a s o n
d e b t
in
fu r th e r
n e t
o f
d u r in g
r o u g h ly ,
o f
d e
o f
th e
th e
2 %
m illio n
d o lla r s .
$ 5 ,0 0 0 ,0 0 0
th e
b e e n
a b o v e
o f
o f
T h e
r e p o r t
in
t h e
m a k e
it
b e e n
1 9 0 8
5 1 2
t o n s
t h e
is
a
is
t o n s
O r e g o n
fo r
R a ilr o a d
a n d
L in e
in
lo a d
in
t h e
8 4
e x p e n s e s
o f
a
U n io n
o f
t h e
c o n t e n d .
la r g e r
2 5 4 ,3 9 7 ;
s e t b a c k
t h e
s id e r a b le
c a r r ie d
a u g m e n ta tio n
th e
c o s t
a d d it io n
I n
t h e
o f
a
fu e l
o f
fo r
lo c o m
c o a l
a n d
in c r e a s e
t ic u la r ly
in
a s c r ib e d
in
t o
t h e
b e r
o f
a
v e r y
s y s t e m ,
5 2 6
fo r
A s
a
a s
in
fo r
o f
3 1
in
m o v e d
t r a ffic
w a s
t h e
a
o r
$ 7 3 ,7 6 2 ,0 0 0
u p
t o
J u n e
2 9 6 ,5 6 8
o f
m a k in g
in
t h e
a n d
w a s ,
it e m s
o f
t e r m in a l
t o
t h e
h o w e v e r ,
fo r
w a g e
s c h e d u le s
t h e
t h e
n e c e s s a r y
la w s
o f
c o s t
a ls o
a n d
t r a ffic
m a d e
th e
ite m
e x p e n s e s
th is
h a lf
in
in
a n
p a r
is
in c id e n t
fir s t
r e g u la tin g
a n
o f
t h e
a
la r g e
2 0 -y e a r
1 9 0 8
n e w
v e r tib le
b o n d
t o
s o m e w h a t
is s u e
c o m p a n y 's
r e p r e s e n te d
b y
4 %
t h e
t h e
le a v in g
t o
R a ilr o a d
fo r
o f
fo r c e
T h e r e
a ls o
a n d
U n io n
fu n d e d
o v e r
d e b t
tr a l
R R .
c o m m o n
d e b t ,
liq u id a t e ,
w h ic h
$ 6 9 ,0 5 0 ,2 2 0
o f
o n
o f
s itio n s
a n d
(a
C o .,
th e
J u n e
lo a n s
3 0
a n d
m a d e ,
o f
fo r
n e w
its
s u b
t h e
S o u t h
th e
y ie ld e d
T h e
o n ly
&
$ 1 4 ,
T h e n
S a lt
L a k e
F u r t h e r m o r e ,
a n d
lin e s
o f
y e a r .
$ 8 ,7 6 6 ,2 9 0 .
A n g e le s
o f
t h e
b e t te r m e n t s ,
a n d
a n d
t r a c t io n
th e
s a m e
$ 6 ,6 0 0 ,5 3 0
fo r
t e r m in a l
in c r e a s e d
C o m p a n y 's
t o
T h e
m e n t
p a id -u p
P a c ific
S o u th e r n
1 9 0 7
o u t s id e
b ills
fig u r e s
is
R a ilr o a d
fo r
o n ly
o f
th e
th e
t h e
F r u it
o f th e
a
E x
la t t e r
P a c ific
y e a r
h a lf
is
a g o .
P a c ific
s u p p lie d
o t h e r
o f
r e m a in
c o m p a n y
$ 6 0 0 ,0 0 0
t h e
C o .
b o n d s
U n io n
t h a t
o f
o f
a c q u i
c o m m o n
th e
P a c ific
o f
th e
R a ilw a y
o f
o n e -h a lf
a n d
th e
&
s e r v ic e
a n d
s t o c k
C o .
F r u it
b y
th e
b y
th e
C o .
1 9 0 6 -0 7
o f
p r o p e r t ie s .
fo r
t h e
in
R a ilr o a d
o t h e r
o f
C e n
e n t ir e ly
th e
d e liv e r y
t h e
c o m
h o ld in g s
t h e
c o n s is ts
s t o c k
a g a in s t
c a p it a l
a n a ly s is
d o w n
c a r s ,
th e
$ 1 0 ,8 0 0 ,0 0 0 ,
P a c ific
r e p o r t
a n d
a s
o f
in
th e
o f
w a s
I llin o is
o f
L ig h t
fo r
o f c a r s
6 ,6 0 0
h o ld in g s
C o .
c a rs
n u m b e r
b o n d s
s u c h
$ 1 ,0 3 4 ,0 0 0
th e
4 %
in c r e a s e s
A m o n g
o f
h o ld in g
o f
$ 5 ,6 8 5 ,7 5 0
W ith
$ 4 ,7 3 0 ,0 0 0
t h e
o f
h o ld in g s
U t a h
in v e s t
$ 9 ,0 7 2 ,3 6 0
h a n d ,
s lig h t
p r o p e r t y
a n d
r e fr ig e r a to r
o f
t o t a l
a ls o
th e
o f
w h ic h
h o ld in g s
t h e
w e r e
c o m p a n y )
a n d
o t h e r
its
C e n tr a l.
o f
s a le
m o r t g a g e
s t o c k
w h o s e
c o m p a n y 's
th e
th e
t o
w e r e
s t o c k
C o ., t h e
U n io n
fir s t
m a k in g
c o m p a n y .
3 ,0 0 0
th e
in
s t o c k
O n
y e a r
p r e fe r r e d
in
b e s id e s
C o .
I llin o is
t o t a l
w h e n
o n
it s p u r c h a s e s
e x t e n s io n s
w e r e
p r e fe r r e d
E x p r e s s
c o n
t o
e x
$ 2 3 ,3 4 6 ,9 6 3 .
a d d it io n s
n e w
s t o c k ,
T h e r e
a n d
S e c u r itie s
s t o c k
y e a r
s t o c k ,
$ 2 0 ,1 2 3 ,1 0 0 .
T h e
tw e lv e
a n d
its
c a lls
d u r in g
o f
L o s
o f
$ 1 ,5 0 0 ,0 0 0
$ 2 3 ,
T h e
fo r
$ 2 ,6 0 0 ,0 0 0 .
a d d e d
w h ile
th e
w o r k
7 5 %
$ 2 ,5 7 5 ,3 0 8 .
o f
L a n d
is s u e d
fo r
P e d r o
R a ilw a y
b o n d s ,
$ 9 7 ,0 0 0 ,0 0 0 .
t o
P a c ific
p a n y
in g
c e n ts ,
a n d
w it h o u t
e x p e d ie n t
s t o c k
s o ld
d iffe r e n c e
c h a n g e s
th e
P a c ific
r e d u c e d
p r e s s
p e r
th is
la r g e
w a s
b o n d s
s p e n t
$ 5 ,4 0 0 ,0 0 0 ,
4
s u b
fa ll
fin a n c in g
p a y , t o o , fo r
w a y
th is
a c c o u n t
n o w
r e fu n d in g
r a ilw a y s
a n d
la s t
fo r
o t h e r
p r e fe r r e d
in c r e a s e d
o u t
b e e n
r e a s o n
S o u th e r n
o f
d e e m e d
r e m a in in g
t o
a n d
S a n
p r in c ip a l
N o r th e r n
n u m
p u t
t h e
n o t w it h s t a n d in g
fu n d s
in
c o n s t r u c tio n
T h e
h o u r s
w e r e
fig u r e o f
p r o p e r t ie s .
th e
d u r in g
is
P a c ific
th e
p r o s e c u t e d
a c q u ir e d
a
th e
w e r e
t h e
t h e
c o m p a n y
c o n v e r t ib le
h a d
lie n
s e r v e d
flo a tin g
o f
s c a le .
th e r e
fir s t
a d d it io n
o f
w a s
5 8 0 ,6 7 2 ,
th e
N o r th e r n
g r e a te r
s e r v ic e ,
c a ll
G r e a t
in
t h a t
t o
it
$ 3 ,0 0 0 ,0 0 0 ,
la r g e
e x is t e d
b o n d s
s t o c k s
7 .5 8 % .
e x p e n s e s , a n d
e x t r a
o f
d u r in g
th e
J u n e ,
s h e e t
c o n c e s s io n s
w a s
h a d
th e
h a d
a n d
a g g r e g a te
lo a n s
a ls o
p a y
a n d
m e n ts
r e d u c t io n ,
t h e
s t o c k s
p r o c e e d s
c o n
in
o n ly
th e
t e m p o r a r ily
$ 1 6 ,2 0 0 ,0 0 0
fr e ig h t
in c r e a s e
fr o m
T h e
t o
C o .,
fo r
w h e r e
a
t o
P a c ific
w a s
$ 2 ,4 3 4 ,0 9 9 .
w a s
la r g e ly
T h e r e
o t h e r
tr a n s a c tio n s
o n
3 0
m o n th s
t h e
e r n
P a c ific
h a d
$ 2 ,9 3 8 ,6 8 8
e n tir e ly
r e a c h e d
I t
s c r ip t io n
w a s
w e r e
U n io n
$ 5 ,6 8 8 ,8 7 7
t h e
v e r y
b e e n
T h e
w a s
h ig h e r
fin a n c ia l
y e a r
T h e
c a p it a l.
o f
8 0 ,
in
p e n d it u r e s .
w a s
t o
r e v e n u e
4 3 2 ,1 2 1 ,7 2 2 ,
th e r e
t o
n u m b e r
o w in g
h a s
th e
h a d
t r a ffic ,
o f
is
w h ic h
th e
th e r e
th e
fa c e
it
r e c e iv e d
is s u e d
e x p la in s
b e
t h e
c o m p a n y
o f
s y s te m s ,
p r o v id e
b e
$ 5 0 ,0 0 0 ,0 0 0
c o n s t r u c t io n
w h ic h
s a id
in
t r a ffic
a g a in s t
T o
a t
a t
s ta te s
s h o u ld
a id
la b o r .
T h e
in te r r u p t io n .
w o r k
t o
S o u th e r n
im p o r t a n t ,
s t r in g e n c y
th e
a g g r e g a te
b e e n
th e
u n d e r
it
a n
b a la n c e
s t o o d
th e
b e in g
8 9
in c r e a s e d
r e s u lt in g
b y
m o n e t a r y
t h a t
in
M e x ic o
m a d e
t o
1 9 0 8
H e
w o r k ,
$ 4
fa c e
a n d
w h ic h
th e
fo r
o u t s t a n d in g ,
th e
h a d
H a r r im a n
im p o r t a n t
$ 3
h a v in g
d o lla r s .
a d d itio n s
o f
m o n t h s
o il.
e m p lo y e e s
in
e n g a g e d
o f
o f
1 9 0 7
3 0
o th e r
r e s u lt
e a r n e d
is
R e p u b lic
w in te r ,
O r e g o n
a g a in s t
3 0
J u n e
fo r
t o n s
t h e
t h e
o n
c r e
a c c o r d in g ly
s h a r e h o ld e r s
m a d e
th e
t h a t
t r a n s p o r t a t io n ,
in c r e a s e d
th e
t o
t o o ,
in
la r g e
C o .
th e
tr a in s
t o n s
e x p e n s e s
r e p o r t
t h e
t h e
o f
fu e l
P a c ific
ca s e
in d ic a te s
P a c ific
s id e
a n d
w a s
y e a r
$ 2 3 ,2 9 6 ,5 6 8
a d v a n c e s .
th e
in
$ 2 6 ,7 0 3 ,4 3 2
w a s
d e m a n d
s h o w s
fis c a l
o t h e r
d e b t
a n d
p a y a b le
t h is
fo r
th e s e
1 9 0 8
b ills
th e
J u n e
fo r
3 0
a n d
P r e s id e n t
v e n t io n s
a n d
tr a in s
a n o t h e r ,
$ 4 5 ,3 7 6 ,3 8 9 .
th a t
p a s s e n g e r
e x p e n s e s
tw e lv e
s ta tio n
y e a r ,
a n d
in
v a r io u s
m o v in g
t h e
e x p e n s e s
th e
o f
a n d
a d v a n c e s
o n
flo a t in g
o u t la y s
U n io n
t h e
n e w
J u n e
o n ly
t h e
w h ic h
t o ld
y e a r ,
m o n t h s ,
o t iv e s ,
o f
in
th e
m ile
m illio n
t r a n s p o r t a t io n
th e
a
t o
r e p o r t e d
b e
n o t
r a ilr o a d
o f
a n d
m a in t e n a n c e
r o u g h ly ,
a re
a n d
t o n s
v o lu m e
c o n d u c t in g
fo r
t h e
C o .,
t h a t
1 9 0 7
p r o p e r ,
in flu e n c e s
d im in is h e d
T h e
o f
t o
o f
O n
a
la r g e
lo a n s
a g a in s t
c lo s e
3 0 .
fo u n d
fo r
o f
w h ic h
in
a tta in e d
fr e ig h t
s ix
m ile
lin e s
J u n e
t h e
s o u r c e
s h e e t
o ffe r e d
o f
I n
b u t
a s
th e
in
in c r e a s e d
p r e v io u s
th e
s h r in k a g e ,
o n e
h a v e
o n e
in
la s t
th e
a ft e r
to n s
th e
s e r v ic e ,
d u e
o n e
b a la n c e
b u t
th e r e
o f
$ 4 1 ,1 8 9 ,6 4 6
b o n d s
t im e .
b r o u g h t
o f
5 1 5
o th e r
c a r r ie d
b u t
b e e n
fr e ig h t
t h e
t h e
o f
r e a s o n
fr o m
o th e r
v o lu m e
in
p a s s e n g e r s
in
fu n d s ,
t h e
S u b s e q u e n t ly
b y
to n s
P a c ific ,
e ffic ie n c y
lik e
T h e
t h a n
t h e
t h e
a ll
C o m p a n y .
a d v e r s e
P a c ific ,
o f
P a c ific
a n d
s h o u ld
d e c lin e
e v id e n c e
a t e d
th e
1 9 0 6 .
o p e r a t in g
p a y a b le .
th e
e ffic ie n c y
r e g a in e d ,
n e e d
p a r ts
r e v e n u e
in
a t
n o t ic e a b le ,
a ll
U n io n
$ 3
fu r t h e r
a ls o
fo r
in
y e a r
p a r t ic u la r ly
h a s
is
o p e r
t r a in -lo a d ,
4 7 5
U n io n
N a v ig a t io n
r u n
T h a t
t h e
t h e
in c r e a s e
1 9 0 7
tr a in -lo a d ,
in
b e y o n d
fis c a l
T a k in g
r e a d e r
S h o r t
&
m ile
o p e r a t io n s
fu r th e r
e n tir e ly
n u m b e r
T h e
I t
w a s
t h e
a g a in s t
e ffic ie n c y
h ig h
5 0 7
in
o n ly
t o n s ,
p o in t .
th e
p e r
1 9 0 8
s im ila r
s ta tis tic s
e n u m e r a t e d
a v e r a g e
lik e
o p e r a t in g
a d v a n c e d
th e
a
a n d
w h o lly
T h e
t h e r e
o ff
n o t
h ig h
s y s te m
e x p e n s e s
e s ta b lis h e d .
1 9 0 6 .
a v e r a g e
o v e r
fo r
a g a in s t
p r e v io u s
w e
w a s
5 1 2
in
t h a t
fa llin g
w a s
t o n s
t h a t
c h a r g e s
a s
c a u s e s
th e
w h ic h
r e c o r d
5 0 9
o f J a
o f
t h o u g h
fr o m
I n
lo s s
s y s t e m ,
1 9 0 8
lo s s
t r a n s p o r t a t io n
t r a n s p o r t a t io n
o p e r a t in g
e v id e n t
s o m e
h ig h
t h e
in
t h e
t h e
t h e
fix e d
m a n a g e m e n t .
c a u s e s
t h is
n e w
a b o v e
o n
fo llo w e d
o p e r a t io n s .
h a d
w a s
fr o m
$ 1 9 ,6 9 9 ,7 0 8 ,
c h a r g e s
o f
s p e c ia l
r e s u lt
$ 2 4 ,7 0 6 ,7 9 0 .
c o s t
c o n t r o l
in
s u r p lu s
in c r e a s e
a tin g
fin a l
m e n t io n e d
o n ly
s u r p lu s
1 9 0 7
T h e
a lr e a d y
o p e r a t io n s —
h a v in g
[VOL. LXXXVI1.
THE CHRONICLE
1508
c o n t a in e d
th e
T h e
t w e lv e
c o m
a n
p a n y ’s
p r e s e n t
m o n t h s
e la b o r a t e
s ta te
in v e s tm e n t s
r e p o r t
la t e r .
b r in g s
T h e
in
th e
in v e s t-
Deo. 12 1908,
m e n t
THE CHRONICLE
o p e r a tio n s
m a y
p u r c h a s e
o f
N o r th e r n
P a c ific
fo r
o f
s t o c k
la t t e r
th e
b e
N o r th e r n
s a id
s h a r e s
t h e
P a c ific ,
h a v e
in
C o .,
liq u id a t io n
C o .,
w a s
o b lig e d
to
N o r th e r n
s t o c k
a n d
in
N o r th e r n
T h e
s e c u r itie s
m e n t
in g
h a s
th e
s o
b e e n
r e c e iv e d
d is p o s in g
p r o c e e d s
r e tu r n .
T h e
in
t h e
o f
o t h e r
o r ig in a l
t a k e
o f
th e
fo r
t h is
N o r th e r n
p a r t
G r e a t
P a c ific
s t o c k .
P a c ific
t im e
s e c u r itie s
c o s t
a n d
in
U n io n
fr o m
t h e
T h e s e
e x c h a n g e d
o f t h e
S e c u r itie s
p a r t
w ith
1 9 0 1 .
s u b s e q u e n t ly
S e c u r itie s
o n
b e g u n
s h a r e s
w e r e
N o r th e r n
U n io n
t o
P a c ific
t o
m a n a g e
t im e ,
y ie ld in g
N o r th e r n
in v e s t
a
ITEMS ABOUT BANKS, BANKERS AND TRUST CO’S.
Ihe public sales of bank stocks this week aggregate 490
shares, of which 433 shares were sold at auction and 57 shares
at the Stock Exchange. The transactions in trust company
stocks reach a total of 147 shares. Ten shares of Chase
National Bank stock were sold a t 326, an advance of 40
points over last week’s sale price. Several small lots of
National Bank of Commerce stock, aggregating 57 shares,
were sold at the Stock Exchange at 195, the last previous
sale having been made two weeks ago at 184
b e t te r
S e c u r itie s
s in c e
w a s
a v a ile d
$ 7 9 ,4 5 9 ,6 9 1 .
o f
t o
n e w
s t o c k
S u b s c r ip t io n
r ig h ts
is s u e s
G r e a t
o f
th e
C it iz e n s ’ C e n tr a l N a t .
N o r th e r n
a n d
th e
t h e
t o t a l
h a n d ,
a g g r e g a te
th e
N o r th e r n
t o
P a c ific
c o m p a n ie s
$ 8 9 ,1 6 6 ,2 0 1 .
a m o u n t
O n
r e a liz e d
t o
h a v e
t h e
J u n e
o t h e r
3 0
1 9 0 8
1 3 3 F o u r t e e n t h S t r e e t B a n k ________
o f
s a le s
t h e
t w o
9 8 4 ,
th u s
t io n
th e
3 5 ,7 8 6
o f
o f
s h o w in g
s h a re s
G r e a t
T h e
fo r
n e w
c o m m is s io n s ,
c h a r g e d
p r o fit
o ff
a n d
t w o
fo r
b le
o th e r
la r g e
I h e
b e e n
t o
a d d it io n s ,
s u m
h a v e
s a le s ,
lik e
a n d
t o t a l
e v e n
t o
a fte i
in
m a n n e r
lo s s .
W
t o
c h a r g in g
t o
it h
o ff
th e
th e s e
A n d
t o
th is
p a r t
b e e n
th e
la r g e
th e
a n d
s h e e t
th e
N o r th e r n
b a la n c e
o f
tr e a tin g
a s
a
c r e d it
c r e d it
w e re
t h e
th is
a n d
th e
th e
p r o fit
$ 6 3
S e c u r itie s
s h e e t ,
th e
p r o c e e d s
a g a in s t
b a la n c e
w o u ld
s in c e
th e
t o
b y
b e
2 1 5 .
r a is e d
w h ic h
p h y s ic a l
fo o t n o t e
fr o m
y e a r
b e e n
fr o m
t h e
a n d
o f
y e a r
is
s a le s
a n d
lo s s
n o t
o f
fr o m
s h o w n
b e e n
in
fo llo w e d
th e s e
b o n d s .
o f
s to c k s
I f th e
$ 6 3 ,9 7 8 ,5 7 9
m e n t io n e d ,
t h a n
’
a c c o u n t
$ 2 8 ,2 8 6 ,8 5 2 .
h e r e
le s s
th e
d o w n
e q u ip m e n t
r e a liz e d
h a s
s u m s
n o
t o
w r it te n
in c o m e
t o t a l
a n d
t o
in d ic a t e
A
p r a c t ic e
o t h e r
’
th e
o f s t o c k s
p r o fit
lo s s
e a r n in g s
$ 4 5 ,5 8 6 ,7 8 3
fr o m
c o s t
th e
a n d
o p e r a t io n s
th e
o n
9 7 8
’
im p r o v e m e n t
o f
J u n e
o f
h a s
a
m in o r
o n
d is c o u n t
o f
t o
a n d
p r o p e r t y .
t h a t
$ 1 6 ,9 5 9 ,8 1 6 —
r e in fo r c e d
t o t a l
u s
b e t
o ff
s o m e
lo s s
s u m
im p r o v e m e n t
p r o p e r t y
lo s s .
fo r
w r it te n
y e a r ’s
p r o fit
th e
r e
a m o u n t in g
a n d
s u r p lu s
a p p r o p r ia t io n s
t o
F u r th e r m o r e ,
t o
o f
o f
te lls
fr o m
b y
a m o u n tin g
t h e
th e
c o m p a n y ’s
$ 1 1 ,3 2 7 ,0 3 6
fu n d
t o
c o n d it io n
b a la n c e
th e
c r e d it
a m o u n t
a p p lie d
fin a n c ia l
c o s t o f
b y
y e t
in
r e
o th e r ,
a c c o r d
y e a r s
a n d
la r g e
o f
p r o fit
b e e n
th e
a n d
'
o n ly
h a s
t o
p r o fit
a v a ila
a n d
h a s
fo r m e r
5 7 9 .
a n d
n o t
c r e d it
e q u ip m e n t ,
c r e d it
a m o u n t e d
th e
o f
fo r m e r
r e p a ir s
flo o d s
c r e d it e d
n e w
s y s t e m
in
a re
$ 4 ,7 7 4 ,6 1 0 ,
a n d
a n d
in
p r o fit
th e
t o
1 0 %
C o m m e r c e
e s ta b lis h e d
b y
o f
in c r e a s e d
n e w
r e n e w a ls
e s t a b lis h e d
a d d it io n s
$ 4 ,6 7 8 ,3 5 1 ,
1 9 0 8 ,
o ff
fu n d s
th e
b e e n
h a n d ,
$ 1 2 ,1 8 8 ,7 5 2
I n t e r -S t a t e
d a m a g e s
T h e
h a s
o t h e r
b e e n
e x t r a o r d in a r y
o f
p u t
a n d
th e
U n d e r
th e
P a c ific
p a y m e n t
a ls o
s t o c k
d is c o u n t
th e
h a s
a n d
o f
in
w ith
o f
r e c e ip t s
a m o u n t
th e
fu n d s
a m o u n t in g
w r itte n
le s e r v e
c r e d ite d
o u t
c a u s e s .
fu n d ,
b o n d
r e s e r v e
g r o w in g
te r m e n ts ,
3 0
th e
it
b y
s h a r e s
“ s t u b s /”
U n io n
O n
a fte r
a n d
s h a r e s
P a c ific
C o .
th is
c r e d it e d
it e m s .
p a y m e n t
e x c e p tio n a l
in g ly
y e a r ,
m a in te n a n c e
th e
n e w a ls
b e e n
th e
lo s s .
r e m a in in g
tr e a s u r y
1 ,1 2 8
c o m p a n y ,
a d d i
7 7 ,1 6 4
N o r th e r n
a n d
a n d
in a u g u r a te d
fo r
fo r
s e r v e
h a s
th e
C o m m is s io n ,
y e a r s
th e
it s
s t o c k ,
S e c u r itie s
w h ic h
c o s t
I n
’
$ 1 3 7
8 5 2
-
B a n k ________
150
280
5 60 #
5 0 M a n h a t t a n C o . , B a n k o f ................ 3 2 6
326
156
195
150
280
560
326
326
D e c.
D e c.
N ov.
Feb.
^
S e p t.
1908— 286
1908— 155
1908— 184
1908— 140
i<7UO1908— 284
5 6 0 *
D ec.
D ec"
1908— 320
3 3 M e r c a n t i l e N a t i o n a l B a n k -------- 1 5 3 H
153J*
1 5 3 >* D e c .
1 9 0 8 — 1 4 5 **
1 0 0 M e r c h a n t s ’ N a t i o n a l B a n k -------- 1 6 4 ? *
164J*
1 6 4 J* D e c .
1 9 0 8 ____
160
160
s h a r e s
$ 1 3 4 ,7 5 2 ,
s u b s c r ip t io n
s h a r e s
is s u e s
p r o fit
lo s s
a c c o u n tin g
a ls o
$ 1 0 ,9 7 9 ,7 2 1 ,
t o
in
c e r tific a te s ,
1 8 ,0 1 6
y e a r
in c o m e
d iv id e n d s
b y
O r e
t h e
b e e n
h e ld
N o r th e r n
N o r th e r n
b o n d
t h e
h a s
a n d
$ 4 5 ,5 8 6 ,7 8 3 .
s till
s t o c k ;
s h a re s
d u r in g
s u r p lu s
G r e a t
P a c ific
p a id )
o f
P a c ific
o f
s h a re s
c o m p a n ie s
p r o fit
N o r th e r n
7 ,2 4 9
o u t
a
U n io n
( 6 2 j^ %
S e c u r itie s
c o n s titu e n t
N o r th e r n
a n d
N o r th e r n
N a tio n a l
20 Im p o rte rs’ & T ra d ers’ N a t. B k .
13
fr o m
326
156
195
150
____
280
B a n k -. 156
* 5 7 C o m m e r c e , N a t . B a n k o f _______ 1 9 5
6 7 G a r fie ld
in c r e a s e d
H i g h . C l o s e . L a s t p r e v i o u s s a le .
S ^ rZ :
B A * K S ~ N ew Y °rk .
Low .
1 0 C h a s e N a t i o n a l B a n k ____________3 2 6
7
in v e s tm e n t s
1509
N . Y . P rod u ce E x ch . B a n k ... 160
TR U ST
100
C O M P A N I E S — N ew
4 5 B r o a d w a y T r u s t C o ...........................
2 H
Equitable Trust
165
S ep t. 1908— 1 6 0 K
Y ork.
133
C o ...........................
397
H u d s o n T r u s t C o .................................
139
397 397
1908—360
133
133
N o v . 1 9 0 8 ____ 1 3 5 H
139
139
O ct.
Sept.
1 9 0 8 — 123
♦Sold a t th e S to c k E x ch a n g e .
At the meeting of the Board of Governors of the New
York Stock Exchange on Wednesday it was voted to close
the Exchange on Saturday, Dec. 26. Business will thus be
suspended from Thursday the 24th until Monday the 28th.
Ih e Cotton Exchange will be closed during the same period.
Ihe organization of a Clearing-House Association at
Bangor, Me., was perfected on the 7th inst. It is to begin
business on Jan . 1 1 1909, and for the first year the clearings
will be made at the Eastern Trust & Banking Co. The
officers of the Association are: President, Arthur Chapin,
Vice-President of the Merchants’ National Bank; Manager
Charles D. Crosby, Treasurer of the Eastern Trust & Banking
Co., and Clerk, W. B Hassard, Treasurer of the Merrill Trust
Co.
—According to a ruling of Attorney-General Stead of
Illinois, the amendment to the State law requiring the
ownership of at least ten shares of stock by bank directors
will not affect those chosen before the amendment became
operative, such directors being competent to serve the
remainder of the term for which they were elected. Refer
ence to the Act containing this and other amendments was
made in our issue of Nov. 7. It received a majority vote of
the pe pie a,t the general election on Nov. 3 hist and was
proclaimed in force by the Governor on Nov. 24. State
Auditor J . S. McCullough has issued in pamphlet form copies
of the revised laws, accompanied by rulings of the Depart
ment on various matters, such as reserves, over-drafts, the
use of a bank’s own stock as collateral, &c., &c. With
respect to reserves, the Auditor states that the Act being
silent on the subject, he bases his rulings on the provisions
of the National Banking Act. Country banks should
maintain not less than 15 % , and Chicago institutions, es
pecially those that carry many accounts of country banks—
acting as their correspondents—should not allow the reserve
to fall below 25% of the deposit liability.
— Gov. Hughes has decided that the investigation into
the life insurance legislation of this State, asked for in a
resolution adopted by the Committee on Insurance of the
New York Chamber of Commerce on the 3d inst, is not
advisable at this time. T] e resolution requested the
appointment of a commission by t, e Governor to investigate
and recommend changes in the irsurt nee laws, and report
to the Legislature not later than J. n. 15, t. e preamble
offered by the committee being as follows:
The presen t Insurance law as g o v e r n in g life Insurance co m p a n ie s was
a d o p te d a t a tim e w hen the e m e r g e n c y seem ed to necessitate p r o m p t
a c tio n , and It w as Im possible t o c o n s id e r w ith d u e d e lib e ra tio n all th e
e ffe cts o l the n ew law u p o n the va rie d Interests to w h ich It w o u ld a p p ly .
In so m e particu lars It seem s n e ce ssa ry t o am en d the s ta tu te t o the a d
v a n ta g e o f the Interests In v o lv e d w ith o u t a ffe ctin g the gen era l p u rpose
o f th e la w .”
‘
The Governor’s decision in the matter was made known in
a letter to Sereno S. Pratt, Secretory of the Chamber,which
said:
W h ile I sh ou ld be glad t o c o m p ly w ith a n y req u est o f y o u r h o n o ra b le
b o d y , It does n o t seem to m e th a t It Is a d v is a b le t o a p p o in t su ch a c o m m is
sion a t the present tim e . W e h a ve r e c e n tly had an In v e stig a tio n o f life
Insurance c o m p a n ie s, an d several pro visio n s o f the Insurance law to w h ic h
re fe re n ce Is m a d e In the r e so lu tio n d id n o t b e co m e e ffe ctiv e until Ja n . 1
1908— 560
THE CHRONICLE
1 5 1 0
[VOL. LXXXVII.
to close out its contracts with various firms which had agreed
to deliver them the bonds then dealt in on the curb, “ if,when
and as issued.” These houses, however, took the position
o ffic e o f G o v e r n o r .
that the contracts had not matured because the entire issue
T h e r e c a n n o t b e t o o g r e a t c a r e in p r o t e c t i n g t h e In t e r e s t s o f t h e p o l i c y
h o ld e r s , a n d I d e s ir e t h a t n o t h in g s h o u ld b e le f t u n d o n e t o p r o c u r e th e
had not been placed on the market. Thereupon action was
f a it h f u l e n f o r c e m e n t o f t h e la w s w h ic h h a v e b e e n e n a c t e d f o r t h e ir p r o t e c
begun by Zimmermann & Forshay for the recovery of
tio n .
T h rou gh
t h e 'o p e r a t i o n
of
th ese
la w s
Im p o rta n t
e c o n o m ie s
damages. The houses against which the proceedings were
have
been
secu red
and
c o n s e r v a tiv e
m anagem ent
has
been
p rom oted .
I f e x p e r ie n c e s h o w s t h a t in a n y p a r t ic u la r th e s e a re t o o d r a s t ic ,
brought in turn filed charges against the firm before the
a m e n d m e n ts sh o u ld b e m a d e .
I v e t o e d a b ill p a s s e d a t t h e la s t s e s s io n
Coverning Board of the New York Stock Exchange, whose
w h ic h w o u ld h a v e m o d ifle d r e s t r ic t io n s u p o n e x p e n d it u r e s , b e c a u s e It w a s
decision was adverse to the firm. The actions in the courts
n o t a c o n s e r v a t iv e m e a s u r e s u c h a s it w a s w e ll k n o w n I d id n o t v ie w w it h
d is fa v o r , b u t w o u ld h a v e o p e n e d th e d o o r t o e x t r a v a g a n c e a n d fa c ilit a t e d
were prosecuted to a finish, with the result that the Court
a re tu r n t o o ld c o n d itio n s .
I h a v e b u t o n e d e s i r e i n t h i s m a t t e r , a n d t h a t is
of Appeals renders judgment absolute in favor of Zimmer
t o c o n s e r v e a n d p r o m o t e t h e b u s i n e s s o f l i f e I n s u r a n c e , t h a n w h i c h t h e r e Is
mann & Forshay, affirming the claim for damages recovered
n o n e m o r e im p o r t a n t , a n d a d e q u a t e ly t o p r o t e c t t h e in te r e s t s o f
th e
p o lic y -h o ld e r s , fr o m
w h ic h th o s e o f th e c o m p a n ie s a n d a g e n ts c a n n o t
against the houses in question.
p r o p e r ly b e d iv o r c e d .
— F . C. Walcott, who was active in the work of the com
T h is e x p r e s s e s m y o p in io n .
I f y o u r h o n o r a b l e b o d y o r o t h e r s in t e r e s t e d In t h e m a t t e r d e s ir e t o
mittee which brought about the reorganization of the
s u g g e s t a n y p a r t ic u la r a m e n d m e n t o f th e la w , I s h a ll b e v e r y g la d , I n d e e d , t o
Knickerbocker Trust Co. of this city, was elected Vice
g i v e I t t h e m o s t c a r e f u l c o n s i d e r a t i o n , a n d I f , In t h e c o u r s e o f c o m i n g l e g i s
President of the institution on Tuesday. James E ly Miller
la t i v e s e s s io n , a n y b ill s h a ll c o m e b e f o r e m e I n v o lv in g a n y a m e n d m e n t
o f t h e l a w . It w ill b e c a r e f u l l y e x a m i n e d .
B u t w h ile I s h a ll b e g la d t o s t u d y
was at the same time elected Assistant Secretary of the com
a n y s p e c ific p r o p o s a l w h ic h m a y b e p r e s e n t e d , I d o n o t t h in k th e tim e h a s
pany, to succeed J . McLean Walton, who resigned to enter
a r r iv e d f o r th e a p p o in t m e n t o f a c o m m is s io n , a s s u g g e s t e d b y th e r e s o lu t io n .
the firm of Lyon & Hollister.. Messrs. Walcott and Miller
’ —Charles H. Treat, Treasurer of the United States, was are both graduates of Yale. Mr. Walcott was connected
a speaker before the New Haven Chamber of Commerce at with the New York Mills Corporation for fourteen years,
the annual banquet of that organization, held on Monday the serving successively as foreman, superintendent, member of
7th inst. Mr. Treat’s remarks dealt with “ Some Unsolved the board of directors and eventually as President. After
Financial Problems,” his discourse opening with a reference resigning the presidency he moved to this city and was
to the panic and its aftermath. The temporary effects of the prevailed upon to associate himself with the committee of
panic, he noted, were startling. Where formerly the last reorganization of the Knickerbocker Trust Co. He is still
laboring man in certain industries had been eagerly sought President of the Walcott & Campbell Spinning Co. and the
for, it was not long before thousands were unemployed. Equitable Warehousing Co., both of New York Mills, and
“ But this relaxation of business energy,” he stated, “ brought is a director and officer in other companies.
with it lessons that were needed. We found that our ac
—The Union Exchange Bank, at 5th Avo. and 21st St.,
cumulated money resources in property and surplus ex
this city, has taken steps towards organizing under the
ceeded those of any other nation—that in some parts of the
national laws and increasing its capital from $750,000 to
country, where the business was mainly agricultural, the
$1,000,000. The addition to capital was authorized by the
farmers had raised grain and the planters had raised cotton,
stockholders on Monday, the 7th inst., and will become
selling these products at swollen prices and becoming pros
operative when the details connected with the bank’s con
perous in the extreme. Within three months,” he contin
version are completed. The application to enter the Federal
ued, “ it was demonstrated that the bad effects of the panic system was approved by the Treasury Department on the
were by no means universal, but only partial, because, 3d inst. The bank began business in June 1903, having,
although the products of our farms and cotton fields weie in besides its capital of $750,000,a surplus of $375,000. Ac
much lessened demand at home, they were readily marketed cording to its report to the Banking Department under date
abroad at high prices, and millions of bushels of grain and of Nov. 27 last, the surplus and undivided profits have
bales of cotton were purchased for foreign account.” He grown to $828,023. The deposits are $8,326,378 and the
noted, too, that while we cut down our importations to the
total resources $9,903,070. Henry S. Hermann has been
lowest point, we made an extraordinary effort to increase
at the head of the institution since its start. David Nevius
our export trade, selling everything that would bring us
is Vice-President and Cashier.
money or liquidate our obligations. England and the rest
—Secretary Babcock of the Trust Company Section of the
of Europe, and, we might say, the whole commercial world,
began to feel acutely the lessened demand from the United American Bankers’ Association is distributing his report of
States, which caused serious trade conditions abroad, and the proceedings of the thirteenth annual meeting of the
Section, held at Denver on September 29. Like the Savings
emphasized how great a factor was this country in the com
Bank Section, the details of the convention of the Trust
merce of nations. Mr. Treat also entered into a defense of
Company Section are contained in a volume separate from
our national banking system, which he thought we should
that covering the regular convention. The general make-up
modify, and add to it only those elements that shall more
of the book, however, conforms to the style of that dealing
fully and successfully meet the demands of to-day—demands
with the proceedings of the main body. The affairs of the
so great that they were never even contemplated at the time
. Trust Company Section are under the direction of the
when the system was installed. That the American bank
following officers: President, A. A. Jackson, Vice-President
ers an l business men are fully alive to the importance of a
• of the Girard Trust Company, Philadelphia; First Vice
chan ;e along these lines, is amply testified to, he thinks, by
President, II. P. McIntosh, President of the Guaidian
the action of Congress during the last session in appointing a
| Savings & Trust Co. of Cleveland; Chairman of the ExMonetary Commission to investigate the banking systems
| ecutive Committee, Oliver C. Fuller, President of the
of E trope and England. As a result of the report of this
Wisconsin Trust Co., Milwaukee, and Secretary, Philip S.
commission, Mr. Treat stated that he expects to see a largo
Babcock of New York.
modification in our banking system that shall meet the ex
—Fred. I. Kent, manager of the foreign exchange depart
igencies of our great and ever growing Republic, flic ques
ment
of the First National Bank of Chicago, will, on January
tion of the establishment of a National Clearing House Bank
(whose shares would be owned entirely by banks, and whose; 1. become a member of the official staff of the Bankers’
management would devolve upon them as shareholders, Trust Company of this city. It is understood that the
therein) was another matter taken up for discussion by Mr.. latter institution is establishing a foreign exchange departTreat. Such an organization, he thought, might simplify■ ment, of which Mr. Kent will be in charge.
—At a meeting of the trustees of the New York Life Inand improve the remedies embodied in the Aldrich-Vr, eland1
bill, toward preventing a rccurr. nee of the late currencyr surance & Trust Co. of this city on the 1st inst., Lincoln
Cromwell was unanimously chosen to fill a vacancy in the
famine.
—The contention of the firm of Zimmermann & Forshay, board.
—•Continuing the improvement noted in these columns
of this city in the controversy growing out of the questionl
of the delivery of bonds of the United Railways of Sani Oct. 17, the Mercantile National Bank of this city has made
Francisco has been sustained in an opinion handed downl further progress during the last three months. A glance
by the Court of Appeals at Albany on the 8th inst. rlhe liti- at the last and four preceding official reports to the Treasury
gation resulted from the attempt of the firm in June 1902> Department furnishes evidence of its strengthened position
1907.
T h u s fa r th e r e p o r t o f th e e x p e r ie n c e o f o n e y e a r o n ly u n d e r th e se
p r o v is io n s
m a tte r
of
w as
th e
am ended
th u s s ta te d
in
la w
m y
Is
a v a ila b le .
sp eech
a c c e p t in g
M y
a
a ttitu d e
tow a rd
r e -n o m in a t lo n
fo r
th e
th e
Dec. 12 1908. |
THE CHRONICLE
since its reorganization was effected by the present executive
staff and directorate. Following a period of readjustment after
the banking troubles in October of last year, the Mercantile
National Bank, in its statement to the Comptroller at the
recent bank call (Nov. 27), was able to report $9,555,209 de
posits. Sept. 23 the deposits were $7,844,930; Ju ly 15,
$7,122,10 2; May 14, $6,440,644, and Feb. 14, only $4,854,
088. In addition to $3,000,000 capital, the bank on Nov.
27 had surplus and undivided profits of $2,521,743 and ag
gregate resources of $10,810,403. The bank has resumed
dividends, the directors last week having declared a payment
of 2% to stockholders, payable Dec. 8.
—The Lincoln Trust Co. of this city has been appointed
depositary and authorized to receive public contributions
for the endowment of the Lincoln Memorial University at
Cumberland Gap, Tcnn. At a recent meeting of New York
bankers and business men, after Gen. O. O. Howard had
announced its object, it was proposed to raise a Lincoln
memorial fund of $500,000 between now and the hundredth
anniversary of Lincoln’s , irthday on Feb. 12. A letter
from President Roosevelt endorsing the plan was read,
Frederick Townsend Martin was elected to the chairmanship
of the committee and Gen. Thomas H. Hubbard and Gen.
Howard were appointed to act with Mr. Martin in extending
the organization to other cities and States. Following out
President Lincoln’s wishes that something should be done
for the people he was born among and loved—the hardy
mountaineers of Tennessee— Gen. Howard, his friend and
confidant, chartered an i founded the Lincoln Memorial
University Feb. 12 1897. For eleven years he and others
have labored to procure funds to sustain the work. The
university has at present 000 acres of land and several
modern buildings, but for lack of adequate funds hundreds
of students in the mountains of Tennessee and near the
borderland of Kentucky and Virginia have been denied its
educational advantages. E . C. Glide, 20 Broad S t., is
Secretary of the Lincoln Centennial Endowment Committee.
—A second dividend in liquidation of $10 per share was
paid on the 8th and 9th inst. to the stockholders of the
Beaver National Bank of this city. The first payment was
made in June last, when shareholders] received $20 per
share on their holdings. The bank opened for business in
April 1907 with a capital of $200,000 and surplus of $100,000,
but entered into voluntary liquidation early this year.
—William L. Murray, paying teller of the Empire Trust
Co. of this city, shot and killed himself on the 5th inst.
Mr. Murray’s act apparently had no connection with his
duties with the company, President Leroy W. Baldwin
having issued a statement announcing that an examination
showed his cash accounts to be absolutely correct.
—It is reported that the stockholders of the Lafayette
Trust Co. of Brooklyn Borough, now in liquidation, have
voluntarily made up a fund, to consist of a contribution of
$3 per share, to be disbursed by a committee. The assess
ment, it is understood, will be returned in the event that the
liquidation of the affairs of the company shall show it to
have been unnecessary Almet L. Latson has been chosen
counsel to represent the stockholders of the institution.
—Edward F. C. Young, for thirty years President of the
First National Bank of Jersey City, and considered the lead
ing financier of New Jersey, died at his home in Jersey City on
the 0th inst., in his 74th year. While prominent as a banker,
Mr. Young’s activities were not confined solely to financial
affairs, but were also directed toward the development of
numerous industrial enterprises, and his business affiliations
were perhaps of greater magnitude than those of any other
man in his State. Although wealthy at the time of his
death, Mr. Young’s rise to prominence was from the very
humblest circumstances. Born on a farm near Morristown,
N. J . , in 1835, his first employment was at the age of 17 ,
when he entered the Hudson County Bank as clerk, later
becoming paying teller. At the age of 29 he entered the
employ of the Mechanics’ & Traders’ Bank of Jersey City,
and in the following year, with the conversion of that insti
tution into the First National Bank, was made Assistant
Cashier. He was advanced to the post of Cashier of the
bank in 1874, and in 1879 assumed the presidency, in which
capacity he served up to the time of his death. Mr. Young
was also prominently identified with the management of the
New Jersey Title Guarantee & Trust Co. of Jersey City; of
1 5 1 1
which he was a Vice-President. Both institutions announce
that his death will make no difference in the policy of con
ducting their business. He was, besides, President of
thcPavonia Trust Company of Jersey City and Vice-President
of the Trust Company of New Jersey at Hoboken. Mr. Young
served as receiver of a number of insolvent concerns, con
spicuous among which was the Joseph Dixon Crucible
Co., which he succeeded in rehabilitating within an un
usually short period of time, placing it among the leading
industries of its class. He was its President a t the time of
his death. He also assisted in financing the old Jersey City
& Bergen Street Railway Co., and was one of the organizers
of the Consolidated Traction Co., which replaced the horsecars with trolleys in Jersey City. Mr. Young had also been
a factor in political alfairs, having served as City Treasurer
from 1865 to 1870. He had also filled the office of State
Railroad Director. Several times he refused the candidacy
for Mayor, but was a candidate for Governor in 1892. Aside
from his many other connections, at his death he was a di
rector of the Liberty National Bank of New York, the
Bankers Trust Co. of New York, the Bowling Green Iru st
Co. of New York, the Hudson & Manhattan R R . Co.,
Colonial Life Insurance Co., Hudson County Gas Co., Pub
lic Service Corporation of New Jersey, &c.
A meeting of the bankers of Hudson County, N. J .,
was held at the Board of Trade, Jersey City, on Tuesday, to
take action of a suitable nature on the death of Mr. Young.
Over 95% of the officers of the thirty odd banking institu
tions in Hudson County were present. The meeting was
called to order by Samuel Ludlow Jr., President of the Union
Trust Company of New Jersey. Eulogistic addresses were
made by William II. Corbin, President of the New Jersey
Title Guarantee & Trust Co.; former Supreme Court Justice
Gilbert Collins, and Frederick B . Schenck, President of the
Liberty National Bank of New York, representing the New
York Clearing-House banks. A resolution attesting to the
worth of Mr. Young was offered by Robert S. Ross, President
of the Third National Bank of Jersey City, and was unani
mously adopted.
—The newly organized Roseville Trust Co. in the Rose
ville section of Newark, N. J ., to which reference was made
in our issue of Nov. 28, opened its doors on the 1st inst. The
institution has a capital of $100,000 and surplus of $50,000.
William P. Odell is President.
—The Merchants’ National Bank has been organized in
Cape May, N. J.,w ith the followng officers: W . L. Stevens,
President; Joseph II. Hanes and George H. Reeves, Vice
Presidents; Henry II. Eldredge, Cashier and Everett J.
Jcrrell, Assistant Cashier. The institution has $50,000
capital. It began business on Thursday.
—The Columbia Trust Company of Middletown, Conn.,
which at the time of its suspension in October was restrained
from paying its depositors or creditors for a period of six
months, is making a return to some of its larger depositors
through an offer to them of securities in lieu of cash. An
order was issued by Judge Robinson of the Superior Court
this week authorizing the company to pay off certain obliga
tions to banks and to recover securities deposited as collateral.
—At the fortieth annual meeting of the Bank Clerks’
Beneficial Association of Philadelphia, held on the 8th inst.,
Louis N. Spielberger, Cashier of the Union National Bank of
Philadelphia, was chosen President of the organization.
The other officers of the association for the ensuing year are
David S. Craven, Vice-President; James V. Ellison, Treas
urer, and Fred. F . Spellissy, Recording and Corresponding
Secretary. Preceding the meeting an elaborate banquet
was served, at which 210 members were seated. Since its
organization on June 1 1869 $208,052 has been paid by the
association in death benefits.
—A. B. Johnson, of the Baldwin Locomotive Works, was
elected a director of the Fourth Street National Bank of
Philadelphia on the 9th inst.
—A new Philadelphia bank is undergoing formation under
the name of the Morris National Bank, the consent of the
Comptroller of the Currency to organize having been obtained
on the 1st inst. The proposed bank is to have $500,000
capital. The petition was presented by F. A. von Boyneburgk, H. G. Peddle, H. Vance Peters, Samuel W. Whan
and George Y . Schoch.
THE CHRONICLE
1 5 1 2
[Vol.
lxxxvii
—The Pittsburgh Bank for Savings of Pittsburgh, Pa. >
Total receipts of flour and grain at the seaboard ports for
increased its capital on November 30 from $75,000 to the week ended Dec. 5 1908 follow:
Flour.
Wheat,
Corn,
Oats, Barley,
R ye,
$600,000. The entire amount of increase was taken from
Receipts at—
bbls.
bush.
bush.
bush.
bush.
bush.
surplus, leaving that item now $250,000. The capital stock N e w Y o r k _________ 1 8 5 ,0 9 1 1 ,2 9 2 ,1 0 0 3 8 3 ,0 5 0
4 8 0 ,1 0 0
1 3 7 ,4 0 0
4 3 ,8 7 5
B o s t o n . . ..................
6 3 ,3 6 6
5 5 8 ,9 9 9
9 9 ,1 5 4
1 0 6 ,8 5 6
650
4 ,3 0 5
is divided into 6000 shares, with a par value of $100, and an P o r t la n d , M o ...........
5 ,4 5 8
3 3 2 ,2 2 1
P h i l a d e l p h i a ............
9 8 ,7 0 1
8 3 2 ,1 4 5
2 8 6 ,5 3 3
80‘ 309
1 8 ,0 0 0
estimated book value of $150 per share. The bank has de B a l t i m o r e ___________ 5 0 ,6 8 0
1 9 0 ,1 9 5
5 9 9 ,6 1 0
2 4 ,3 0 9
833
1 1 ,5 5 0
2 ,9 2 1
2 1 ,5 6 2
1 2 ,7 0 0
1 2 ,5 9 2
804
posits of about $16,000,000. James S. Kuhn, who is also RN ei cwh mO rolenadn_________
3 0 ,7 2 1
s * _____
2 3 ,6 0 0
1 7 9 ,5 0 0
5 2 ,5 0 0
N e w s _____
1 0 ,7 9 6
2 8 ,6 4 8
President of the First National Bank of Pittsburgh, is the NN eo wr fpo ol kr t........................
5 ,1 7 9
G a l v e s t o n ______ __________
1 3 9 ,0 0 0
6 8 8 ,0 0 0
1nstitution,s head
M o b il e ...........................
2 ,0 3 0
2 ,3 0 0
..
1 1 ,5 4 0
3 1 1 ,2 2 3
—At the annual meeting of the Union Trust Company of SMt o. nJtor ehanl................
7 8 ,3 0 6
2 3 ,0 1 1
......................
1 ,3 8 5
1 1 1 ,8 2 0
Detroit on Tuesday, George Hendrie was elected First Vice
4 6 7 ,8 6 8
3 ,8 1 2 ,8 6 5
2 ,2 5 0 ,8 4 7
8 6 3 ,6 2 0
1 8 3 ,5 4 9
5 6 ,8 7 9
President of the institution. The following were also elected W e e k 1 9w0 7e e k ...........
...........
4 4 5 ,1 6 0
5 ,0 1 3 ,6 7 9
1 ,0 8 6 ,8 8 6
8 9 2 ,4 5 8
4 1 ,9 6 6
7 2 ,9 3 2
directors of the company: Richard P. Joy, President of the SS inn ec ee JJ aa nn .. 11 11 99 00 87 .1.1 87 ,5,5 56 15 ,2,9 37 38 11 11 93 11 53 48 ,6,4 24 79 84 40 ,3,2 81 42 ,2,0 84 40 45 11 ,3,4 04 23 ,8.5 31 77 64 16 97 52 ,0,0 26 89 22 18 41 60 ,3,7 18 37
National Bank of Commerce, Detroit; George H. Russel,
r,n *th '^ Cclli tSu,<?,0 n o t I n c lu d e g r a in p a s s in g t h r o u g h N e w O r le a n s f o r fo r e ig n p o r t s
President of the People’s State Bank, and Gerald J . Mc- o n t h r o u g h b ills o f la d in g .
Mechan, Secretary of the company. Truman H. Newberry
The exports from the several seaboard ports for the week
declined re-election to the directorate, owing to his duties ending Dec. 5 1908 are shown in the annexed statement:
„
Wheat,
C orn,
Flour,
Oats,
Rye,
Peas, Barley,
as Secretary of the Navy.
Exports from—
bush.
bush.
b bls.
bush.
bush.
bush.
bush.
N e w Y o r k ..............1 ,2 6 4 ,8 6 8
1 2 ,8 4 1
8 ,3 7 5
1 0 ,1 6 5
4 ,3 1 1
—The ninety-first annual meeting of the Bank of Montreal P o r t la n d , M e _____ 3 3 2 ,2 2 1 3 1 5 .9 7 0 8 85 ,4,4 05 48
5 1 6 ,9 6 6
” 9*,054
1 5 ,5 4 7
28", 146
was held in Montreal on Monday. A detailed report of the BP ho isltaodne ......................
l p h i a _____ 3 8 1 ,1 0 9
1 0 5 ,0 1 8
7 5 ,2 6 7
3 8 ,2 7 0
proceedings, including the remarks of President Sir George B a lt i m o r e ................ 1 1 8 ,8 8 4 3 5 0 ,3 0 6 3 1 ,1 6 1 ' “ 166
7 4 ,6 0 0
1 3 9 ,4 3 3
1 1 ,2 6 4
3 81
1
' “324
A . Drummond and Vice-President and General Manage! NN ee ww pOo rr tl eNa enws _____
s ............................
1 0 ,7 9 6
2 8 ,6 4 8
................
4 0 ,6 6 6
9 7 6 ,6 2 6
9 ,0 2 1
—
E . S. Clouston, will be found on a succeeding page. The GM aol bv ei lset .o.n................
..........
..........
............
.
2 ,3 0 0
2 ,0 3 0
Bank has had a prosperous year, the profits being $1,957,658. M o n t r e a l................... 9 9 ,3 5 8
6 ,4 2 8
I I I " !
--Ill
______
______
N o r f o l k ................
5 .1 7 9
. . .. . .
—
—
—
Ten per cent in dividends has been paid, and with the balance S t . J o h n , N . B r i l l i i ‘ 8 2 0
.
1 ,3 8 5
—
—
..............
............
brought forward from the previous year the directors added
T o t a l w e e k ------- 2 ,9 3 9 ,8 2 6 1 ,8 9 8 ,7 0 7 2 6 1 ,9 4 0
4 1 ,9 7 0
8 ,3 7 5
7 6 ,5 8 1
4 ,6 3 5
$1,000,000 to the rest account, which now stands at $ 12 , W e e k 1 9 0 7 ..............3 ,3 1 2 ,5 8 6 8 6 6 ,0 5 4 2 8 0 ,6 2 5
1 3 ,1 5 4
6 3 ,9 8 0
1 4 .0 0 4
4 ,6 7 8
000,000. Paid-up capital is $14,400,000. Assets, $18 3.
The destination of these exports for the week and since
469,159.
Ju ly 1 1908 is as below:
picnic civvyg# 0 mmcvcml^ny l tslipjcws
English Financial Markets—Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London.
W e e k e n d in g D e c .il.
Sat.
Mon.
Tues.
Wed.
Thurs.
F r l.
S il v e r , p e r o z ..............................d . 2 2 5 -1 6 2 2 %
22%
22%
2 2 1 1 -1 6 2 2 7 -1 6
C o n s o ls , n e w , 2 % p e r c e n t s . . 8 3 %
8 3 9 -1 6 8 3 7 -1 6 8 3 7 -1 6 8 3 9 -1 6 8 3 1 1 -1 6
F o r a c c o u n t ................................ 8 3 1 3 -1 6 8 3 1 1 -1 6 8 3 9 -1 6 8 3 9 -1 6 8 3 1 1 -1 6 8 3 1 3 -1 6
F r e n c h R e n t e s (In P a r i s ) . t r . 9 7 .0 5
9 6 .8 7 %
9 7 .0 0
9 7 .0 7
9 7 .1 5
9 7 .2 2 %
A m a lg a m a t e d C o p p e r C o ___ 8 7 %
85%
85%
86
86%
86%
5 A n a c o n d a M in in g C o .............. 1 0 %
10
10%
10%
10%
10%
A t c h is o n T o p e k a & S a n t a F e .1 0 1 %
100%
100%
100%
101
100%
P r e fe r r e d . . .............................. 1 0 4 %
104%
104%
104%
104%
1 05
B a lt i m o r e d c O h l o ........... ..............1 1 1 %
110%
110%
111%
112%
112%
P r e f e r r e d ............................
95 95
95
95
95
95%
C a n a d ia n P a c I 6 c ............................ 1 82
181
181%
181%
183
182%
C h e s a p e a k e & O h i o ...................... 5 4 %
54%
54
55%
57%
58%
C h i c a g o G r e a t W e s t e r n ______ 1 1 %
12
11%
11%
12
12
154%
C h i c a g o M t lw . & S t . P a u l . . . 1 5 5 %
154%
154%
155%
155
D e n v e r & R io G ra n d e, c o m . 3 7 %
36%
36
39
39
40
P r e f e r r e d .......... .............................8 2
82
82
85
85
85%
34%
E r ie , c o m m o n ___________________ 3 5 %
55%
36
36
35%
F ir s t P r e f e r r e d ......... .................. 5 0
50
50%
51
51%
51%
40%
41
S e c o n d P r e f e r r e d ____________ 4 1
41
41
41%
I ll in o i s C e n t r a l . ........................ . 1 5 2
151%
151
151
151
161%
125
L o u is v i ll e & N a s h v i ll e ........... . 1 2 5 %
125%
126
126%
126%
M e x i c a n C e n t r a l...... ................... 1 7 %
18
18
18
19%
22
39%
M o. K ansas & T exa s, c o m .. 4 0%
39
40
40
41
P r e f e r r e d ----------------------------------7 4
73
73
74
74
74
53%
N a t i o n a l U R . o f M e x i c o _____5 3 %
53%
53%
54
N . Y . C en tral & H u d s o n R iv .1 2 0 %
1 20
1 20
120%
120%
120%
N . Y . O n t a r io & W e s t e r n . . . 4 7 %
46%
47%
47%
48
48%
N o r tp lk & W e s te r n , c o m m o n 8 6 %
86%
86%
86%
87%
87%
P r e f e r r e d ................................
90
90
00
90
90
90
N o r t h e r n P a c i f i c ............................ 1 4 6 %
1 46
146%
146%
147%
147
o P e n n s y l v a n l a .................
66%
66%
66%
66%
67
67
a R e a d ln g C o m p a n y . ..............
71%
72
72%
72%
73%
73%
a F I r s t P r e f e r r e d .........................4 5 %
45%
47%
45%
45%
45%
o S e c o n d P r e f e r r e d ....................4 5
47
48
49
48%
48%
24%
R o c k I s l a n d C o m p a n y .............. 2 5
24%
25
25
24%
S o u t h e r n P a c i f i c ............................ 1 2 1 %
1 22 %
121
122%
123%
cl2 2 %
S o u th e rn R a ilw a y , c o m m o n . 2 6 %
26
25%
26%
26%
26%
P r e f e r r e d ............................
61 6 0 %
60%
62
62
62
U n io n P a c i f i c , c o m m o n ........... 1 8 6 %
185%
186%
187%
188%
1 88
P r e f e r r e d ....................................... 9 8 %
98
98%
97%
97%
U . S . S te e l C o r p ., c o m m o n . . 5 6 %
56%
55%
56%
56%
P r e f e r r e d ..................................... 1 1 5 %
115%
115%
115%
115%
115%
W a b a s h ............. ...........
17%
18%
17%
19%
20
19%
P r e f e r r e d ........................................4 5 %
44%
43%
46
46%
E x t e n d e d 4 s .................................7 2
71
72
71%
73
SB
T
a P r ic e p e r s h a re .
5 £ s t e r li n g ,
c E x -d iv id e n d .
©0 mm cvcini iiucl i
Receipts at—
C h i c a g o _____
M ilw a u k e e ..
D u l u t h _____
M i n n e a p o l is .
T o l e d o ...........
D e t r o i t ...........
C l e v e l a n d ___
S t. L o u is ...
P e o r i a ...........
K a n s a s C ity .
T o t . w k . '0 8
S a m e w k . '0 7
S a m e w k . '0 6
S in c e A u g . 1
1 0 0 8 ...........
1 9 0 7 .....
1 9 0 6 ...........
F leur.
Wheat.
bbls. 19616s. bush.
1 9 2 ,1 9 3
9 2 ,5 7 5
8 6 ,5 0 0
5 ,6 0 0
1 ,8 4 7
5 9 ,2 3 0
2 1 ,0 0 0
4 5 8 ,9 4 5
3 7 4 ,2 5 9
5 0 1 ,2 0 3
6 0 lbs.
5 3 3 ,5 8 2
2 1 7 .0 0 0
2 ,8 9 5 ,7 6 0
1 ,4 7 1 ,5 4 0
1 0 3 .0 0 0
1 9 6 ,4 4 2
1 1 ,1 1 0
2 0 6 ,5 4 7
8 ,1 2 7
4 6 6 ,2 0 0
6 .1 0 9 ,3 0 8
6 ,5 6 3 ,2 0 9
5 ,9 3 5 ,4 4 2
8 ,9 8 5 , 6 0 2 1 4 1 ,1 8 6 ,5 7 3
7 ,3 4 8 ,7 9 1 1 0 9 ,2 3 6 ,4 0 8
9 ,3 1 8 ,3 4 3 1 1 7 ,3 3 0 ,0 0 0
Exports for week and
since J u ly l to—
ti
Corn.
Oats.
6 3 ,8 2 0
1 3 6 .0 0 0
5 7 ,3 0 4
1 9 0 ,9 6 0
1 3 7 ,6 0 5
3 7 4 .0 0 0
5 9 ,4 0 0
3 2 lbs.
1 ,4 8 7 ,5 0 0
2 2 5 ,6 0 0
1 5 1 ,4 8 7
3 3 6 ,3 2 0
1 8 ,0 0 0
2 8 ,5 0 0
9 0 ,2 0 0
3 0 7 ,2 0 0
1 0 8 ,0 0 0
8 1 ,0 0 0
3 ,0 7 5 ,8 5 1
2 ,6 8 5 ,9 3 4
2 ,8 4 6 ,5 5 9
2 ,8 4 2 ,8 0 7
2 ,7 1 5 ,2 4 2
2 ,9 2 7 ,9 5 7
bush.
5 8 lbs.
1 ,8 6 0 ,7 6 2
1 9 6 ,0 0 0
4 2 ,1 6 2 ,6 4 7
6 8 ,3 3 8 ,9 8 3
6 4 ,1 8 6 ,4 6 3
bush.
Barley.
Rye.
bush.48lbs. bu. 5 6 lbs.
6 0 0 ,3 0 0
3 1 3 ,2 0 0
6 8 0 ,5 1 0
2 9 4 ,6 9 0
3 7 .0 0 0
1 9 ,8 0 0
1 7 .4 5 1
21 1An
" 8~666
1 2 7 ,4 0 0
7 3 ,0 0 0
1 ,0 9 0
6 ,0 0 0
2 ,0 9 7 ,1 0 0
1 ,1 4 9 ,0 7 9
1 ,9 5 9 ,3 7 8
1 1 2 ,4 8 1
1 4 9 ,1 5 3
3 0 2 ,7 9 9
7 4 ,9 5 3 ,2 1 3 4 4 ,3 2 1 ,1 3 7 3 ,5 8 7 ,9 8 4
8 6 ,3 9 1 ,4 5 3 3 4 ,2 8 5 ,4 2 8 3 ,0 4 0 ,2 2 4
9 1 ,1 2 3 ,4 3 0 3 2 ,5 4 6 ,0 0 4 3 ,4 0 4 .0 0 3
Since
Ju ly l
1908.
bbls.
Week
Dec 5 .
bush.
-Corn-
Since
Ju ly 1
Week
Dec. 5 .
bush.
1908.
bush.
U n it e d K i n g d o m . . . 1 5 2 ,0 8 4 2 ,5 4 9 ,6 2 2 1 ,7 4 2 ,3 0 9 3 2 ,2 9 9 ,8 3 5
C o n t i n e n t ...................... 7 0 ,5 9 9 1 ,2 4 8 ,8 3 7 1 ,1 3 6 ,1 5 2 3 5 ,7 4 0 ,5 1 0
S o . & C en t. A m e r ..
9 ,7 9 5
2 9 1 ,7 6 8
6 1 ,3 6 5
1 8 3 ,8 5 7
W e s t I n d i e s ................ 2 8 ,9 7 5
6 4 4 ,6 0 4
..............
150
B r it . N o . A m . C o l s . .
362
5 8 ,1 6 5
O t h e r C o u n t r ie s ____________________________
125
1 5 7 ,7 0 5
5 1 ,4 8 8
7 ° ta,lz ; z - - - .......... 2 6 1 .9 4 0 4 ,9 5 0 .7 0 1 2 ,9 3 9 ,8 2 6 6 8 ,2 7 5 ,8 4 0
T o t a l 1 9 0 7 --------------- 2 8 0 ,6 2 5 5 ,1 3 7 ,8 4 3 3 ,3 1 2 ,5 8 6 6 0 ,1 4 4 ,9 5 4
6 7 5 ,8 1 9
1 ,1 9 4 ,5 5 9
492
2 6 ,9 6 1
876
Since
Ju ly 1
1908.
bush.
,4 3 8 ,8 5 5
,4 5 6 ,5 2 9
1 7 ,5 4 3
5 1 7 ,4 0 4
6 ,4 0 0
9 ,0 3 2
1 ,8 9 8 ,7 0 7
5 ,4 4 5 ,7 6 3
8 6 6 ,0 5 4 2 1 ,3 0 1 ,8 2 5
The world’s shipments of wheat and corn for the week
ending Dec. 5 1908 and since July 1 in 1908 and 1907 are
shown in the following:
Wheat.
Exports.
Corn.
1908.
Week
Dec. 5 .
1907.
Since
Ju ly 1.
Bushels.
Bttshels.
N o r t h A m e r . 3 .9 1 2 .0 0 0
R u s s i a n -------- 1 .6 0 8 .0 0 0
8 6 4 .0 0 0
D a n u b la n . .
A r g e n tin a . .
4 1 4 .0 0 0
A u s t r a lia n ..
3 5 2 .0 0 0
O th . c o u n tr ’s
1 2 8 .0 0 0
9 7 ,7 9 7 ,7 0 0
3 3 .6 6 4 .0 0 0
2 1 .1 8 4 .0 0 0
2 8 .0 2 7 .0 0 0
7 .3 4 4 .0 0 0
7 .1 7 8 .0 0 0
1908.
1907.
Since
J u ly 1 .
Week
Dec. 5 .
Since
Ju ly 1 .
Bushels.
Bushels.
Bushels.
Since
J u ly 1 .
Bushels.
8 3 .4 7 2 .0 0 0 1 ,8 7 2 ,6 0 0
4 8 .4 1 6 .0 0 0
3 6 5 .0 0 0
1 7 .3 2 8 .0 0 0 1 ,0 8 8 ,0 0 0
9 .7 5 2 .0 0 0
8 3 3 .0 0 0
4 .4 8 0 .0 0 0
1 6 .9 2 0 .0 0 0
5 ,6 9 3 ,4 0 0
6 ,6 8 5 ,5 0 0
0 ,2 0 1 ,5 0 0
4 9 ,5 6 8 ,5 0 0
1 8 ,8 6 2 ,0 0 0
1 2 .8 5 6 .0 0 0
2 7 .0 1 6 .0 0 0
3 1 .2 1 6 .0 0 0
T o t a l _____ 7 ,2 7 8 ,0 0 0 1 9 5 ,1 9 4 ,7 0 0 1 8 0 ,3 6 8 ,0 0 0 4 ,1 5 8 ,0 0 0
0 2 ,1 4 8 ,9 0 0
8 9 ,9 5 0 ,0 0 0
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Wheat.
Com.
United
Kingdom.
Continent.
Total.
United
Kingdom.
Bushels.
Bushels.
Bttshels.
Bushels.
Bushels. ' Bushels.
5 .3 5 5 .0 0 0
4 .4 2 0 .0 0 0
4 .2 0 0 .0 0 0
5 .4 4 0 .0 0 0 1 0 ,7 9 5 .0 0 0
4 .6 7 5 .0 0 0 9 .0 9 5 .0 0 0
4 .5 0 0 .0 0 0 8 .7 0 0 .0 0 0
D e c . 5 1 9 0 8 . . 1 6 ,1 6 0 ,0 0 0 9 8 .4 0 0 .0 0 0 2 6 ,0 0 0 ,0 0 0
N o v . 2 8 1 9 0 8 . . 1 7 .7 6 0 .0 0 0 1 1 .5 2 0 .0 0 0 2 9 .2 8 0 .0 0 0
D e c . 7 1 9 0 7 . . 1 5 .3 6 0 .0 0 0 1 0 .2 4 0 .0 0 0 2 5 .6 0 0 .0 0 0
Continent.
Total.
The visible supply of grain, comprising the stocks in
granary at the principal points of accumulation at lake and
seaboard ports Dec. 5 1908, was as follows:
A M E R IC A N G R A IN
i5 cel Uwcous IJlcids
Breadstuffs Figures Brought from Page 1555.—ThTstatements below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
8ince August 1 for each of the last threegyears have been:
-W h ea t-
F lo u r -
Week
Dec. 5
bbls.
Wheat,
bush.
N e w Y o r k ............................. 3 ,0 7 9 ,0 0 0
B o s t o n .....................................
3 9 0 ,0 0 0
P h i l a d e l p h i a ....................... 1 ,5 5 2 ,0 0 0
B a l t i m o r e ...............................
7 1 9 ,0 0 0
N e w O r l e a n s ........................
4 9 0 ,0 0 0
G a l v e s t o n ...............................
6 7 6 ,0 0 0
B u f f a l o ..................................... 3 ,6 3 2 ,0 0 0
5 8 2 ,0 0 0
T o l e d o .....................................
D e t r o i t .....................................
7 5 3 ,0 0 0
C h i c a g o ..................................... 5 ,2 0 8 ,0 0 0
M i l w a u k e e .............................
4 3 1 ,0 0 0
D u l u t h ..................................... 6 ,0 5 7 ,0 0 0
M i n n e a p o l is ............................1 3 ,1 0 3 ,0 0 0
S t . L o u i s ................................ 2 ,8 5 8 ,0 0 0
K a n s a s C i t y ........................... 3 ,7 4 4 ,0 0 0
P e o r i a ........................................
1 ,0 0 0
I n d i a n a p o l is ...........................
4 2 7 ,0 0 0
O n L a k e s ....................
7 ,5 1 3 ,0 0 0
O n C a n a l a n d R i v e r ___
T ot® ! D e c 5 1 9 0 8 . . 5 1 ,2 1 5 ,0 0 0
T o ta l N o v . 2 8 1 9 0 8 .-4 8 ,9 7 3 ,0 0 0
M o n t r e a l........................
F o r t W i l l i a m .............. . . .
P o r t A r t h u r ................ . . .
O t h e r C a n a d ia n ------- . . .
Wheat,
bush.
' 4 9 ,0 0 0
3 ,2 9 3 ,0 0 0 ;
1 ,7 2 9 .0 0 0
5 0 9 ,0 0 0
T ota l D ec.
5 1 9 0 8 . - 5 ,5 8 0 ,0 0 0
T o t a l N o v . 2 8 1 9 0 8 . . 6 ,5 1 9 ,0 0 0
Oats,
bush.
Rye,
bush.
Barley,
bush.
1 1 8 ,0 0 0
1 9 ,9 0 0
3 3 ,0 0 0
2 0 7 ,0 0 0
1 7 7 ,0 0 0
4 7 ,0 0 0
7 0 .0 0 0
7 3 .0 0 0
8 0 .0 0 0
5 5 .0 0 0
3 9 .0 0 0
9 0 .0 0 0
1 4 0 ,0 0 0
2 8 .0 0 0
1 ,7 4 2 ,0 0 0
..............
..............
1 ,1 2 5 ,0 0 0
5 8 2 ,0 0 0
7 0 0 ,9 0 0
1 ,2 9 9 ,0 0 0
2 0 1 ,0 0 0
4 .5 6 9 ,0 0 0
2 ,6 5 1 .0 0 0
C A N A D IA N
STOCKS.
3 7 9 ,0 0 0
8 2 1 ,0 0 0
1 0 0 ,0 0 0
3 7 .0 0 0
2 0 4 ,0 0 0
7 0 .0 0 0
1 6 6 ,9 0 0
7 7 4 ,0 0 0
3 7 4 ,0 0 0
1 9 5 ,0 0 0
6 3 8 ,0 0 0
7 9 ,0 0 0
1 ,3 4 9 ,0 0 0
2 6 1 ,0 0 0
2 2 9 .0 0 0
3 7 7 ,0 0 0
1 9 1 .0 0 0
6 1 8 ,0 0 0
8 8 5 .0 0 0
9 6 ,0 0 0
3 6 0 .0 0 0
......... 8 2 8 .0 0 0
1 4 ,0 0 0
1 ,8 8 5 ,0 0 9
3 0 ,0 0 0
6 0 6 ,0 0 0
4 9 ,0 0 0
3 2 1 .0 0 0
6 6 ,0 0 0
7 2 4 ,0 9 0
8 6 ,0 0 0
3 3 9 .0 0 0
4 2 4 ,0 0 0
1 2 5 .0 0 0
2 4 ,0 0 0
Corn,
bush.
G R A IN
9 ,0 7 0 ,0 0 0
8 ,6 9 4 ,0 0 0
2 5 ,0 0 0
4 ,0 0 0
1 2 5 ,6 6 o
8 9 0 ,6 6 6
1 ,1 0 2 ,0 0 0
1 ,0 7 0 ,0 0 0
6 ,7 0 7 ,0 0 0
0 ,4 7 2 .0 0 0
R ye,
B a rle y ,
.............
8 1 ,0 0 0
STOCKS.
Corn,
bush.
Oats,
bush.
2 8 ,0 0 0
..............
..............
..............
2 4 1 ,0 0 0
2 8 ,0 0 0
3 0 ,0 0 0
2 4 1 .0 0 0
3 3 1 .0 0 0
bush.
bush.
8 1 ,0 0 0
7 2 ,0 0 0
THE CHRONICLE
Dec. 12 1908.J
1 (5 1 3
SUM M ARY.
W h ea t,
bu sh.
C o rn ,
bu sh.
Oats,
bush.
R ye,
bu sh.
B a rle y ,
bush.
.51.215.000
. 5.580,000
4.569.000
28,000
9.070.000
241,000
1 ,1 0 2 ,0 0 0
..............
6 ,7 6 7 ,0 0 0
8 1 ,0 0 0
1 9 0 8 . .56,795,000
1 9 0 8 . .55,572,000
1 9 0 7 . .43,424,000
1 9 0 6 .. .40,214,000
1 9 0 5 . .34,711,000
1 9 0 4 .. .37,108,000
4.597.000
2.681.000
2.817.000
3.490.000
7.703.000
4.565.000
9.311.000
9.025.000
7.009.000
12.529.000
27.835.000
24.201.000
A m e r i c a n ______ ________
C a n a d i a n ...........................
T o ta l
T ota l
T ota l
T o ta l
T o ta l
T ota l
D ec.
5
N ov . 28
D ec.
7
D ec.
8
D ec.
9
D e c . 10
6.848.000
1.070.000 6.544.000
936,000 5.882.000
1.459.000 3.894.000
2.194.000 6.396.000
1.993.000 5.743.000
1 ,1 0 2 ,0 0 0
Auction S a l e s . —Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H. Muller & Son:
S to c k s .
S to c k s .
5,123 Cripple Creek Central
R y . Co., c o m m o n ..3 0 -3 3 %
5,704 Cripple Creek Central
R y . C o., pref______ 51-55
38 Detroit & Mackinac R v .
C o., preferred_______ 90
80 Detroit & Mackinac R y .
C o., com m on_________4 3 %
17 Stam ford W ater C o____210%
10 Eagle Fire Co. (In liqui
d a tion )__________ $9 per sh.
34 Cent. Pk. N or. A East
R iver R R . C o_________ 3 5%
17 Second Ave. R R . C o . . . 32 %
100 Merchants' N at. B an k . .164 X
50 Bank of Manhattan C o.326
2 X Hudson Trust C o______ 139
25 Graphite Lubricating Co
(certs, not endorsed) $1 p.sh.
300 Amer. Fibre Ass’n ____$6 lot
200 The Shelton Trap R ock
C o., *50 ea ch ________*175
1,000 U. S. Pliable Plate Ice
C o____________________*35
100 Equitable Trust C o------ 397
2,500 The Scandla Mining)
Syndicate, *1 each. .1*30
15,000 Simplex E ng.C o.,?l ea.J lot.
10 Union Ferry C o ._ ......... 22 X
45 Broadway Trust C o------ 133
100 Union Typew riter C o.,
com m on_____________ 64%
10 Union Tr. Co. of N. J -,1 1 2 %
33
7
133
67
13
10
20
100
20
Mercantile N at. B an k. .1 5 3 %
Citizens’ Cent. Nat. llk .1 5 6
Fourteenth Street Bank.150
Garfield National B a n k .280
N. Y . Prod. E xch. B k ..l 6 0
Chase National B a n k ..3 2 6
Sixth Avenue R R . C o .. 126
Virginian Railw ay C o ._ 23%
Im porters & Traders
National B ank______ 560%
10 Federal Safe D ep. C o .. 72
132 City Investing C o______ 70
B on d s.
*50,000 Cin. Ham. & D ay. R y .
Co. 4 % % collat. notes______ 52
*5,000 Muskogee Gas & Electric
Co. 1st & refunding b o n d s .. 85
$1,500 Stam ford (Conn.) W ater
Co. 1st 5s, 1917.
J.A J ____ 105%
*5,000 St. Paul City R y . Cable
cons. 5s, 1937_______________108%
*5,000 Union Elev. R R . 1st 5s,
1945 _________________________ 90
*5,000 United Trac. & Elec. Co.
1st 5s (Prov. A Paw. St. R y .
Issue), 1933_________________ 107%
*4,000 Pittsb. Shaw. & N orth.
R R . 1st 5 S , 1949 _________________ 6 5
$2,500 Perth A m boy Fire Brick
Co. 20-yr. 1st 5s, 1925........... 25
*5,000 Hecker- Jones -JewellCo.
deb. 6s, 1916. J. & 1 J -..9 5 & Int.
D IV ID E N D S .
The following shows all the dividends announced for the
future by all large or important corporations
D iv id e n d s a n n o u n c e d th is w e e k a r e p r in t e d i n it a lic s .
N a m e o f C o m p a n y.
R a il r o a d s ( S t e a m ).
A l b a n y & S u s q u e h a n n a ( q u a r . ) .....................
A t c h . T o p e k a A S a n ta F e , p r e f. (N o . 2 1 ) .
A t l a n t i c C o a s t L in e R R . , c o m m o n ..............
B o s t o n A L o w e l l .....................................................
Boston, A M a in e , com . (quar.) ( N o . 1 7 3 ) . .
B o s t o n R e v e r e B e a c h A L y n n ................... ..
C h e s a p e a k e A O h io ( a n n u a l ) ...........................
C h ic. A A lto n , p ref. A prior lien A p arllc.
Chicago A Eastern Illin ois, p ref. ( q u a r .) ..
Chicago In dianapolis A L ou isville, com m on
P r e fe r r e d .................................................................
C h i c a g o & N o r t h W e s t e r n , c o m m o n ...........
P r e fe r r e d ( q u a r . ) ...............................................
Chicago R ock Island A P a cific R y . ( q u a r .).
C in . N e w Orleans A T ex a s P a c ific , c o m . . .
Cleve. C in e. C h ic. A S t. L . , p ref. ( q u a r .) ..
C o l o r a d o A S o u t h e r n , c o m m o n ......................
D e la w a r e ................... .. ..............................................
D e la w a r e A H u d s o n C o m p a n y ( q u a r . ) . . .
D e la w a r e L a c k a w a n n a A W e s t e r n (e x t r a )
D e n v e r A lt t o G r a n d e , p r e f e r r e d ...................
D e t r o i t A M a c k in a c , p r e f e r r e d .....................
H ock in g V a lley, com m on and p r e fer r e d .. .
I n t e r b o r o u g h R a p i d T r a n s it ( q u a r . ) ...........
Inleroceanlc R y . of M e x ic o , 1st p r e fe r r e d ..
M a h o n in g Coal R R . , com m on ...........................
P r e fe r r e d ..................... ......................... .. ...............
M a in e Central (q u a r .)..................... .. .................
M a n ha tta n, quar. (quar.) ( N o . 9 9 ) ........... ..
M in n ea p o lis A S t. L o u is, p r e fer r e d ............
N e w Y o rk <fc H a r lem ................ ............................
N . Y . L a ck a w a n n a A W estern ( q u a r . ) . . .
N o r f o l k A W e s t e r n , c o m m o n ........................
Northern Central ( N o . 8 8 ) ..................................
N orthern R R . of N e w H a m pshire ( q u a r .) ..
P h iladelphia Balllm nre A W ash in gton ------llenssalaer A Saratoga...........................- ............
S t. L o u is A S a n Francisco—
C h ic. A E a st. III. com . stk. tr. c tfs...........
Preferred stock trust ctfs. (q u a r .)------K . C . F t. s . A M . p f. tr. ctfs. ( q u a r .) ..
S o u t h e r n P a c if i c , c o m . ( q u a r .) ( N o . 9 ) . .
P r e fe r r e d ( N o . 9 ) ...............................................
U h lo n P a c if i c , c o m m o n ( q u a r . ) .....................
.................
V erm ont V a lle y ......
W h i t e P a s s A Y u k o n . . .....................................
W isc o n sin C entral, p ref. (quar.) ( N o . 1 ) . .
S t r e e t & E le c t r i c R a i l w a y s .
A m e r ic a n R a il w a y s ( q u a r . ) . . ......................
Bangor R y . A Elecetrlc (quar.)
. .
.
C h i c a g o C i t y R y . ( q u a r . ) ...................................
C o n t i n e n t a l P a s s e n g e r R y . , P h il a d e lp h ia .
E l P a so Electric C o ., p ref. ( N o . 1 3 ) ..............
H a lifa x E l . T r a m w a y . L td . (q u .) ( N o . 4 8 )
I n d i a n a p o l is S t r e e t R y ........... .........................
Lyn chbu rg T raction A Ligh t..................... .....
E x t r a ........................................................................
M a ssa ch u setts E le c tr ic C o m p a n ie s, p r e f . .
Portland (O re.) R y . L .A P ., p f .( q u .) ( N o . 1 0 )
P u g e t S o u n d E le ctric R y ., p r e f. (N o . 6 ) . .
R ed d ing T ra ction .......................................................
S t. J oseph R y . , I j . , H .A P ,, p f . ( q u .) ( N o .2 b )
S a o P a ulo T r a m ., U . A P o w ., Ltd. (quar.)
S e a ttle E le c t r ic C o ., c o m m o n ( N o . 2 ) . . .
T w i n C i t y R a p i d T r a n . , M in n ., p f . ( q u . ) .
U n ion P assenger R y . , Philadelph ia_______
U n it e d T r a c . A E l e c . , P r o v id e n c e ( q u a r . )
W e st Philadelphia P a sseng er R y ......................
B an k s.
C oal A Iro n National (q u a r .)...........................
M e r c a n t ile N a t i o n a l ...............................................
P er
C en t.
W h en
P a yab le.
B ook s C losed.
D a y s lln d u s lv e .
4%
2%
2%
2%
4
1%
3
1
2
1%
1%
2
3%
2
1
2%
1%
2
d4
2%
10
2%
2%
2
2%
4%
6
2%
2
1%
2%
3%
5
1%
2
4
1%
2
4
Jan.
F eb.
Jan.
D ec.
Jan.
Jan.
Jan.
D ec.
Jan.
Jan.
D ec.
D ec.
Jan.
Jan.
Jan.
D ec.
Jan.
D ec.
Jan.
D ec.
D ec.
Jan.
Jan.
Jan.
Jan.
D ec.
F eb.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
D ec.
Jan.
Jan
D ec.
Jan.
1
1
11
31
2
1
1
22
15
2
30
30
2
2
1
23
20
15
2
15
15
15
2
18
2
12
1
2
1
2
15
2
2
1
18
15
1
31
1
D e c . 16
H o ld e r s
D e c . 19
H o ld e r s
N o v . 26
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
D e c . 13
H o ld e r s
D e c . 11
H o ld e r s
H o ld e r s
H o ld e r s
D e c. 27
D e c . 16
H o ld e r s
D ec. 20
to
o f rec.
to
o f rec.
to
o f rec
o f rec.
o f roc.
o f rec.
o f rec.
o f rec.
o f rec.
o f rec.
o f rec.
o f rec.
to
o f rec.
to
o f rec.
o f rec.
o f rec.
to
to
o f rec.
to
Jan.
1
D e c. 30
J a n . 11
N o v .2 8 a
D ec.
1
D e c. 9a
D e o . 15
D e c . la
D e c .3 1 a
D e c .1 8 a
D e c . 15
D e c . 15
D ec.
3
D ec.
3
D e c .1 8 a
D e c . 22
D e c . 29
D e c . 15
D ec. 5a
N o v . 24
D e c. 4a
Jan.
3
Jan.
3
D e c. 28
Jan.
1
H o ld e r s
H o ld e r s
H o ld e r s
D e c . 12
H o ld e r s
o f rec.
o f rec.
o f rec.
to
o f rec.
J a n . 15
D e c . 19
D e c . 15
D e o . 23
D e c . 31
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
D e c . 16
of
of
of
of
of
of
D e c . 15
D e c .1 5 a
N ov. 30
D e c . 31
D ec. 7a
D ec.
9
Jan.
1
5
1%
1
1%
3%
2%
5
2
1
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
D ec.
2
2
2
2
15
2
1
15
23
D e c . 17
to
Jan.
3
D e c . 17
to
Jan.
3
H o ld e r s o f r e c . D e c .1 6 a
o f rec.
o f rec.
to
o f rec.
o f rec.
D e c . 31
D e c. la
Jan.
1
Jan.
1
D e c . 15
1% .
1%
1%
$3
3
1%
3
1%
1
*1
1%
3
75c.
1%
2%
2%
1%
S 4 .7 5
3
1%
85
D ec.
Jan.
D ec.
D ec.
Jan.
Jan.
Jan.
D ec.
D ec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
J[an.
15
1
30
30
11
2
1
15
15
1
2
1
1
1
__
15
2
1
1
2
1
N o v . 29
to
H o ld o r s o f re c .
D ec.
8
to
H o ld e r s o f r e c .
H o ld e r s o f r e c .
D e c . 21
to
D e c. 24
to
H o ld e r s o f r e c .
H o ld e r s o f r e c .
H o ld e r s o f r e c .
H o ld e r s o f r e c .
H o ld e r s o f r e c .
D e c . 12
to
H o ld e r s o f r e c .
D ec.
2
D e c. 20
D e c . 13
D ec.
2
D ec. 30
Jan.
2
Jan.
1
D e c .1 4 a
D e c .1 4 a
D ec.
5
D e c . 15
D e c . 15
Jan.
3
D e c . 15
2%
2
ra n .
D ec.
H o ld e r s
H o ld e r s
D e c . 16
H o ld e r s
H o ld e r s
rec.
rec.
rec.
rec.
rec.
rec.
to
H o ld e r s o f r e c . J a n .
1
H o l d e r s o f r e c . D e c . 15
H o l d e r s o f r e c . D e c . 15
D ec.
9
to
Jan.
3
H o l d e r s o f r e c , D e c . 15
1 H o ld e r s o f r e c . D e c .
9
15 D e c .
9
to
D e c . 15
Per
C en t.
N a m e o f C om pan y.
Banks— Concluded.
N ineteenth W a rd (quar.) ( N o . 3 0 ) _________
Twelfth W a r d ( N o . 2 4 ) . . . ...................................
U n io n E x c h a n g e ........................ ...............................
B ook s C losed .
D a y s In clu siv e.
W h en
P a ya b le.
3
2
5
D ec.
D ec.
D ec.
31 H o ld e r s o f r e c . D e c . 2 1
31 H o l d e r s o f r e c . D e c . 2 1
to
Jan.
1
31 D e c . 2 2
3
5
3
3
6
2
2
D ec.
D ec.
Jan.
Jan.
D ec.
D ec.
D ec.
31
31
2
2
31
31
31
Trust Companies.
F i f t h A v e n u e ( q u a r . ) ..............................................
G u aran ty (q u a r.)_____________________________
H u d s o n ....................................................... .. ...............
L a w yers' Title In suran ce A T ru st ( q u a r .) ..
M etropolitan (quar.) ( N o . 4 8 ) ...... ...............
V a n N orden (quar.) ( N o . 1 5 ) ...........................
E x t r a ................ .....................................................
H o ld e r s
H o ld e r s
D ec. 25
D e c . 17
D e c . 19
H o ld e r s
H o ld e r s
o f rec.
o f rec.
to
to
to
o f rec.
o f rec.
D ec.
D ec.
Jan.
Jan.
Jan.
D ec.
D ec.
30
31
3
3
1
21
21
Miscellaneous.
A e o lia n , W eber P la n o A P ia n o la , p f . (q u .)
A m e r ic a n B e e t S u g a r , p f . ( q u . ) ( N o . 3 8 ) .
A m e r . B ra k e S h oe A F d r y ., c o m . (q u a r .)
P r e fe r r e d ( q u a r . ) ................... ............................
A m e r ic a n C a n , p r e fe r r e d ( q u a r . ) ...................
A m e r . C a r A F d r y . , c o m . ( q u a r .) ( N o . 2 5 )
P r e fe r r e d ( q u a r .) ( N o . 3 9 ) ...........................
A m e r ic a n E x p r e s s ..................................................
A m e r . Iro n A Steel M f g . , c o m .A p f. ( q u .) .
A m erica n P la n o , p ref. (quar.) ( N o . 3 ) ___
A m e r ic a n P ip e M f g . ( q u a r . ) ------------------------A m e r ic a n R a d i a t o r , c o m m o n ( q u a r . ) -------A m e r . S m e lt . A R e f .. c o r n . ( q u .) ( N o . 2 1 )
P r e fe r r e d ( q u a r . ) ( N o . 3 8 ) ...................—
A m e r ic a n S n u ff , c o m m o n ..................................
P r e fe r r e d ............................................... - ............
A m e r . S u g a r R e f ., c o m . a n d p r e f. ( q u a r .)
A m e r ic a n T o b a c c o , p r e fe r r e d ( q u a r . ) ------B o r d e n 's C o n d e n s e d M ilk . p r e f . ( q u a r . ) . B u t t e E l e c . A P o w e r , c o m . ( q u . ) ( N o . 1 7)
C a lu m e t A H e c la M in in g ( q u a r . ) ...................
Canadian General E le c ., L t d ., com . (quar.)
C e llu lo id C o m p a n y ( q u a r . ) ...............................
E x t r a ............................. ......................... .................
C en t. D lst. A P r in t. Telegraph (q u a r .)_____
C e n t r a l L e a t h e r , p r e fe r r e d ( q u a r . ) ..............
C h ic. J u n e . R y s . A U n . S tk . Y d s.,c o m .(q u )
Preferred (q u a r.)..................................................
C h ic a g o T e le p h o n e ( a u a r . ) ..............................
Colum bus Gas A F u e l, p ref. (q u a r.)..............
C o n s o lid a t e d G a s o f N e w Y o r k ( q u a r . ) . .
b C r e x C a r p e t C o .......................................................
D ia m o n d M a t c h ( q u a r . ) .....................................
Duluth E d iso n E le c ., p r e f. (qu .) ( N o . 1 1 ) . .
d u P o n t (E .I .)d e N em ou rs P o w .,c o m .(q u .)
P r e fe r r e d ( q u a r . ) ...............................................
E a s t m a n K o d a k , c o m m o n ( q u a r . ) ________
P r e fe r r e d ( q u a r . ) ............................................ ..
E m p ir e Steel A Ir o n , p ref. ( N o . 2 0 ) ________
E q u it a b le I ll u m in a t in g G a s L ig h t , P h i l a .
F e d e r a l M in in g A S m e lt i n g , p r e f . ( q u a r .)
G e n e r a l E l e c t r i c ( q u a r . ) .....................................
G r a n b y C o n s . M in ., S m e lt . A P o w . , L t d .
G r e a t L a k e s T o w i n g , p r e fe r r e d ( q u a r . ) . .
G u g g e n h e im E x p l o r a t i o n ( q u a r . ) ( N o . 2 4 )
I n g e r s o l l- R a n d , p r e fe r r e d ------------------ ----------I n t e r n a t io n a l S il v e r , p r e fe r r e d ( q u a r . ) ___
L a c le d e G a s L ig h t , c o m m o n ( q u a r . ) ______
P r e f e r r e d ..............................................................
M a c k a y C o s ., c o m . A p r e f . ( q u . ) ( N o . 1 4 )
M a r y la n d C o a l, p r e fe r r e d ..................................
M ergenthaler L in o typ e (quar.) ........................
E x t r a ................ ........................................................
M ic h ig a n S t a t e T e l . p r e f . ( q u a r . ) ( N o . 2 0 )
N a t io n a l B i s c u i t , c o m m o n ( q u a r . ) ..............
N a t . E n a m e l. A S t a m p in g , p r e f . ( q u a r . ) .
N a t io n a l L e a d , c o m m o n ( q u a r . ) ( N o . 2 0 )
P r e f e r r e d ( q u a r .) ( N o . 6 8 ) .......................
N ational Sugar R efin in g, p r e f. (q u a r .)___
N i le s - B e m c n t - P o n d , c o m m o n ( q u a r . ) ___
N o va Scotia Steel A Coal, p ref. ( q u a r . ) . . . t
Old D o m in io n S . S . ( N o . 6 6 ) ................... ....
Otis Elevator, p ref. ( q u a r .) ................................
P h ila d e lp h ia E l e c t r i c ............................. ...............
Q u a k e r O a t s , c o m m o n ( q u a r . ) ........................
C o m m o n ( e x t r a ) ..................................................
Q u in c y M in in g ( q u a r . ) _____________________
R a il w a y S t e e l S p r in g , p r e f . ( q u a r . ) ..............
Rubber Goods M f g . , p ref. (quar.) ( N o . 3 9 ) .
S a f e t y C a r H e a t in g A L ig h t in g ( q u a r . ) . . .
E x t r a .........................................................................
S e a r s . R o e b u c k A C o ., p r e f . ( q u a r . ) ______
Securities C o m p a n y ...............................................
S loss-Sheffteld Steel A Iro n , p ref. (q u a r .).
S p r in g V a ll e y W a t e r
Standard Gas Light, preferred...........................
S t a n d a r d O il ( q u a r . ) .............................................
Standard Screw , com m on and preferred___
S t r e e t ’ s W e s t e r n S t a b l e -C a r L in e , p r e f . . .
S w if t A C o m p a n y ( q u a r .) ( N o . 8 9 ) ..............
U n io n B a g A P a p e r, p ref. (quar.) ( N o . 3 9 )
U n it e d B a n k N o t e C o r p . , p r e f . ( a u a r . ) . . .
U n ited F ru it (quar.) ( N o . 3 8 ) ...........................
United Gas Im provem ent (q u a r .)......................
United S hoe M a c h in e r y, com m on ( q u a r .) ..
P referred ( q u a r . ) ................................................
U n it e d S t a te s L e a t h e r , p r e f . ( q u a r . ) ______
U . S . S te e l C o r p . , c o m . ( q u a r . ) ( N o . 2 0 ) .
U t a h C o p p e r C o . ( q u a r .) ( N o . 2 ) ...................
Virginla-CarolInn C h e w ., p f. (q u .) ( N o .5 3 )
W estern U n io n Telegraph (quar.) ( N o . 1 5 9 )
W i lk e s -B a r r e G a s A E l e c t r i c ( q u a r . ) _____
1%
1%
1
1%
1%
%
1%
3
1%
1%
2
1
1
1%
4
1%
1%
1%
1%
1%
$5
1%
1%
2
2
1%
2
1%
2
1%
1
2
2%
1%
1%
1%
2%
1%
1%
3
1%
2
*2
1%
2%
3
1
1%
2%
1
2%
2%
5
1%
1%
1%
1%
1%
1%
1%
1%
2
3
1%
3
1%
%
*1
1%
1%
2
1
1%
2%
1%
*1
3
*10
3
3%
1%
1
1%
2
2
2
1%
1%
%
50c.
2
X
1
to
J a n .' 3
D ec.
31 D e c . 2 2
Jan.
2 H o ld e r s o f r e c . D e c . 1 9
to
Jan.
1
D ec.
31 D e c . 16
to
Jan.
1
D ec.
31 D e c . 16
Jan
2 H o ld e r s o f r e c . D e c . 1 6 a
to
D e c. 20
Jan.
1 D e c 12
Jan.
to
D ec. 20
1 D e c . 12
Jan.
2 H o ld e r s o f r e c . N o v . 3 0 s
Jan.
1 H o ld e r s o f r e c . D e c . 19
Jan.
1 D e c . 11
to
Jan.
9
Jan.
1 H o ld e r s o f r e c . D e c . 15
D ec.
31 D e c . 2 5
to
D ec. 31
Jan.
15 D e c . 2 5
to
Jan.
1
Jan.
2 D e c . 12
to
D e c . 17
Jan.
2 H o ld e r s o f r e c . D e c . 12
Jan.
2 H o ld e r s o f r e c . D e c . 12
J an .
2 D ec.
3
to
Jan.
3
Jan.
2 H o ld e r s o f r e c . D e c . 12
D ec.
6
to
D e c . 15
15 D e c .
Jan.
2 H o ld e r s o f r e c . D e c . 2 0
D ec.
19 H o l d e r s o f r e c . N o v . 1 5
to
D e c. 31
1 D e c . 15
Jan.
D ec.
31 H o ld e r s o f r e c . D e c . 14a
D ec.
31 H o ld e r s o f r e c . D e c . 1 4 a
to
Jan. 30
Jan.
30 Jan . 24
Jan.
2 H o ld e r s o f r e c . D e c . 10
Jan.
2 H o ld e r s o f r e c . D e c . 14
Jan.
2 H o ld e r s o f r e c . D e c . 1 4
D ec.
31 H o ld e r s o f r e c . D e c . 2 3
Jan.
1 H o l d e r s o f r e c . D e c . 14
D ec.
15 H o ld e r s o f r e c . N o v . 1 0 a
D ec.
15 H o l d e r s o f r e c . N o v . 2 8
D ec.
15 H o l d e r s o f r e c . N o v . 3 0
Jan.
1 H o ld e r s o f r e c . D e c . 12a
5
D ec.
15 H o ld e r s o f r e c . D e c .
Jan.
2 5 H o ld e r s o f r e c . J a n . 1 5
Jan.
1 H o ld e r s o f r e c . N o v . 3 0
Jan.
1 H o ld e r s o f r e c . N o v . 3 0
to
Jan.
1
Jan.
1 D ec. 20
8
D ec.
15 H o l d e r s o f r e c . D e c .
D ec.
15 H o l d e r s o f r e c . N o v . 2 7
3
J an .
15 H o l d e r s o f r e c . D e c .
D ec.
15 H o l d e r s o f r e c . N o v . 2 8
d 1a n , , 2 D e c . 16
to
Jan.
2
to
Jan.
3
Jan.
2 D e c . 19
Jan.
1 H o ld e r s o f r e c . D e c .1 2 a
to
J a n . 19
Jan.
1 D e c . 12
8
to
D e c . 15
D ec.
15 D e c .
8
t o ’ D e c . 15
D ec.
15 D e c .
Jan.
2 H o ld e r s o f re c D e c .1 2 a
to
D e c. 23
D ec.
30 D ec. 20
to
Jan.
1
31 D e c . 13
D ec.
to
Jan.
1
D ec.
31 D e c . 13
to F e b . 1
1 J a n . 17
F eb.
Jan.
15 H o ld e r s o f r e c . D e c . 2 8 a
to
Jan.
1
D ec.
3 1 D e c . 12
Jan.
1 D e c. 12
to
D e c . 15
to
N o v . 24
D ec.
15 N o v . 2 1
to
Jan.
3
D ec.
31 D e c . 2 9
to
J a n . 13
Jan.
2 D ec. 23
to
D e c. 21
21 D e c . 15
D ec.
Jan.
15
to
Jan
1
Jan.
1 D ec. 21
Jan.
15 H o ld e r s o f r e c . D e c . 3 1
to
N o v . 30
15 N o v . 2 2
D ec.
Jan.
15 H o ld e r s o f r e c . J a n . 4a
Jan.
15 H o l d e r s o f r e c . J a n . 4a
1
to
D ec.
0
D eo.
21 D e c .
9
to
D e c . 21
D ec.
21 D e c .
D ec.
15 H o l d e r s o f r e c . D e c . 11
23 H o l d e r s o f r e c . D e c . 9 a
D ec.
D ec.
23 H o ld e r s o f r e c . D e c . 9 a
Jan.
1 H o ld e r s o f r e c . D e c . 1 7 a
1
to
J a n . 15
Jan.
15 J a n .
Jan.
2 H o ld e r s o f r e c . D e c .l 8 a
23
D ec.
to
Jan.
1
D ec.
31 D e c . 2 2
D ec.
16 H o l d e r s o f r e c . N o v . 1 9
1 H o ld e r s o f r e c . D e c . 15
Jan.
to
Jan.
1
1 D e c. 22
Jan.
Jan.
7
Jan.
4d D e c . 17d t o
Jan.
15 H o l d e r s o f r e c . D e c . 3 1
to
Jan.
3
Jan.
2 D e c . 17
Jan.
15 H o l d e r s o f r e c . D e c . 2 6
Jan.
15 H o ld e r s o f r e c . D e c . 3 1
Jan.
5 H o l d e r s o f r e c . D e c . 12
Jan.
5 H o ld e r s o f r e o . D e c . 12
iJ a n .
2 H o ld e r s o f r e c . D e c . 10
to
D ec. 30
3 0 D e c . 11
| D ec.
to
Jan.
1
| B e c.
31 D e c . 19
1
to
J a n . 16
iJ a n .
15 J a n .
>Jan.
15 H o l d e r s o f r e c . D e c . 1 9 a
2 H o l d e r s o f r e c . D e c . 17
Jan.
a T r a n s fe r b o o k s n o t c l o s e d ,
b F o r m e r l y t h e A m e r ic a n G r a s s
r e c t io n .
e D e c la r e d 4 % , p a y a b le In q u a r t e r ly I n s t a llm e n t s .
T w in e C o .
d C or
I m p o r t s a n d E x p o r t s f o r t h e W e e k . —The following a r e
the imports at New York for the week ending Dec. 5; also
totals since the beginning of the first week in January:
F O R E IG N
F o r w eek.
D r y G o o d s .......................................
G e n e r a l m e r c h a n d i s e _______
IM P O R T S A T N E W Y O R K .
1908.
1907.
1906.
1905.
* 3 ,2 6 7 ,4 2 0
1 2 ,3 8 3 ,3 8 3
* 3 ,6 6 9 ,5 4 1
1 1 ,0 7 6 ,5 1 7
* 3 ,4 5 1 ,6 5 9
1 5 ,1 2 2 ,7 0 3
* 2 ,5 2 6 , 1 6 3
1 0 ,0 1 8 ,4 6 2
T o t a l ............................................... * 1 5 ,6 5 0 ,8 0 3 * 1 4 ,7 4 6 ,0 5 8 * 1 8 .5 7 4 ,3 6 2 * 1 2 , 5 4 4 , 6 1 6
S in ce J a n u a r y 1 .
D r y G o o d s ______________________ * 1 1 9 ,8 6 3 ,8 4 7 * 1 7 5 ,5 3 9 ,5 3 5 * 1 5 2 ,0 8 9 ,2 2 2 * 1 3 2 , 2 7 4 , 7 8 0
5 2 7 ,1 2 6 ,3 7 2
4 6 7 ,3 9 2 ,0 8 8 6 2 1 ,0 2 3 ,0 9 0 5 7 4 ,8 2 0 ,8 9 1
G e n e r a l M e r c h a n d i s e ................
T o t a l 4 9 w e e k s ........................ * 5 8 7 ,2 5 5 ,9 3 5 * 7 9 6 ,5 6 2 ,6 2 5 * 7 2 6 .9 1 0 ,1 1 3 * 6 5 9 , 4 0 1 , 1 5 2
The following is a statement of the exports (exclusive of
|i specie) from the port of New York to foreign ports for the
week ending Dec. 5 and from Jan. 1 to date:
EXPORTS
FROM
F o r t h e W e e k ................ ...............
P r e v i o u s l y r e p o r t e d __________
NEW
YORK
FOR
THE
W EEK.
NEW
1905.
1906.
1908.
1907.
S I 1 ,9 8 4 ,6 4 6
5 7 9 ,9 2 3 ,8 6 1
$ 1 1 ,5 9 8 ,1 9 7
6 0 0 ,4 2 1 ,4 2 4
$ 1 2 ,3 5 6 ,6 5 4
5 7 6 ,7 7 8 ,8 6 3
$ 1 3 ,3 2 3 ,1 1 6
5 0 9 ,7 1 3 ,0 3 5
T o t a l 4 9 w e e k s ........................ $ 5 9 1 ,9 0 8 ,5 0 7 $ 6 1 2 ,0 1 9 ,6 2 1 $ 5 8 9 ,1 3 5 ,5 1 7 $ 5 2 3 ,0 3 6 ,1 5 1
EXPORTS
AND
IM P O R T S
O F S P E C IE
AT
NEW
YORK.
E x p o r ts.
W eek.
G r e a t B r i t a i n ______________________
F r a n c e ______________________________
G e r m a n y ------------- ---------------------------W e s t I n d i e s . ..........................................
M e x i c o ______________________________
S o u t h A m e r i c a ____________________
A l l o t h e r C o u n t r ie s ................... .........
$ 1 ,5 0 4 ,0 2 5
3 ,0 0 0
1 6 4 ,0 0 0
Im p orts.
S in ce J a n . 1
$ 2 ,5 2 4 ,7 3 7
2 5 ,1 4 4 ,9 0 4
1 9 ,0 1 7 ,3 4 3
1 ,3 4 4 ,4 0 0
4 ,0 0 0
1 ,9 5 0 ,6 0 6
1 0 ,2 3 5
S in c e J a n . 1
W eek.
$ 2", 6 5 6
1 9 2 ,3 1 0
3 ,6 5 2
8 0 ,5 7 9
6 6 ,4 5 0
$ 3 ,7 1 8 ,3 8 6
1 ,0 6 5 ,1 8 2
3 0 ,1 8 3
5 ,1 3 9 ,1 9 9
4 7 4 ,0 5 8
2 ,6 6 3 ,6 9 6
3 ,1 2 5 ,4 2 3
$ 1 ,6 7 1 ,0 2 5 $ 4 9 ,9 9 6 ,2 2 5
$ 3 4 4 ,9 9 1 $ 1 6 ,2 2 2 ,1 2 7
2 0 ,0 0 0 3 0 ,7 7 6 ,9 7 2 1 3 ,8 3 0 ,7 9 4 7 9 ,9 2 4 ,5 1 0
3 7 0 ,8 5 2 9 4 ,2 9 2 ,4 0 5
5 ,7 3 1
5 ,9 7 9 ,7 6 6
T o t a l 1 9 0 8 ................
T o t a l 1 9 0 7 ................
T o t a l 1 9 0 0 ................
S ilver.
$ 8 9 6 ,2 9 0 $ 3 4 ,6 3 9 ,4 8 4
4 ,9 1 4 ,0 0 0
3 0 6 ,0 0 0
4 1 ,9 0 0
2 6 3 ,9 9 2
4 ,5 1 4
G r e a t B r i t a i n _______
F r a n c e . . ____________
G e r m a n y _____________
W e s t I n d i e s __________
M e x i c o -----------------------S o u t h A m e r i c a ...........
A l l O t h e r C o u n t r lc s .
3 ,8 7 0
350
$ 3 ,4 5 0
2 ,5 2 5
4 1 ,0 3 7
1 1 ,0 4 9
7 2 ,7 3 8
$ 7 3 ,5 9 0
6 8 ,5 1 4
1 1 8 ,7 8 5
1 7 3 ,6 6 5
1 ,7 3 9 ,5 7 1
9 2 4 ,8 2 3
7 4 0 ,3 2 8
$ 1 ,2 0 7 ,0 3 9 $ 3 9 ,8 6 3 ,5 9 6
4 7 ,2 3 3 ,3 9 4
8 1 6 ,3 6 4
9 0 8 ,4 9 8 4 4 ,8 0 1 ,5 1 3
S 1 3 1 ,3 9 9
2 6 0 ,4 0 5
2 1 5 ,4 1 0
$ 3 ,8 3 9 ,2 7 6
3 ,4 6 7 ,7 9 1
2 ,7 5 0 ,0 7 1
235
T ota l 1908.
T o ta l 1 90 7.
T ota l 1906.
Of the above imports for the week in 1908. $158,905 were
American gold coin and $5,136 American silver coin. Of
the exports during the same time, $167,000 were Amer
ican gold coin and $1,235 were American silver.coin.
S ta tem en t o f N ew Y o rk C ity C learin g-H ou se B a n k s. —The
detailed statement below shows the condition of the New
York City Clearing-House banks for the week ending Dec.
5. The figures for the separate banks are the averages of
the daily results. In the case of the totals, the actual fig
ures at the end of the week are also given.
W e om it two ciphers ( 0 0 ) In all cases.
B a n k s.
0 0 ? om itted.
Bank of N . Y . _
M a n h a tta n C o .
M e r c h a n t s '_____
M e c h a n ic s ’ _____
A m e r i c a ..............
P h e n l x ................
C i t y ................ ..
C h e m i c a l ________
M erch a n ts’ E x .
G a l l a t i n ................
B u t c h . Sc D r o v .
G r e e n w i c h _____
A m e r . E x c h ___
C o m m e r c e ______
M e r c a n t i l e _____
P a c if i c _________
C h a t h a m ________
P e o p l e ’s ..............
H a n o v e r ..............
C i t iz e n s ’ C e n t . .
N a s s a u _________
M a rk et & F u lt ’ n
M e t r o p o l it a n . .
C orn E xch a n g e
I m p . Sc T r a d e r s ’
P a r k ...................
E a s t R i v e r _____
F o u r t h .................
S e c o n d ................
F i r s t ......................
I r v i n g E x c h ___
B o w e r y ________
N . Y . C o u n t y ..
G e r m a n -A m e r .
C h a s e ......................
F ifth A v e n u e ..
G erm a n E x c h ..
G e r m a n i a ............
L i n c o l n .................
G a r f i e ld ______
F i f t h .....................
M e t r o p o l is . .
W e s t S i d e ______
S e a b o a r d ___
L i b e r t y _________
N . Y . P rod . E x .
S t a t e ......................
1 4 t h S t r e e t _____
C o p p e r .................
Capita l.
S u rp lu s.
L o a n s.
A vera g e.
S pecie.
A verage.
$
2 .0 0 0 .C
2 ,0 5 0 ,C
2 .0 0 0 .C
3 .0 0 0 .C
1 ,5 0 0 ,C
1 ,0 0 0 ,C
2 5 ,0 0 0 ,C
3 .0 0 0 .C
6 0 0 ,0
1 ,0 0 0 ,0
3 0 0 ,0
5 0 0 ,0
5 ,0 0 0 ,0
2 5 ,0 0 0 ,0
3 ,0 0 0 ,0
5 0 0 .0
4 5 0 ,0
2 0 0 ,0
3 ,0 0 0 ,0
2 ,5 5 0 ,0
5 0 0 ,0
1 ,0 0 0 ,0
2 ,0 0 0 , 0
3 ,0 0 0 , 0
1 ,5 0 0 ,0
3 ,0 0 0 ,0
2 5 0 ,0
3 ,0 0 0 ,0
1 ,0 0 0 ,0
1 0 ,0 0 0 ,0
2 ,0 0 0 ,0
2 5 0 ,0
5 0 0 ,0
7 5 0 ,0
5 ,0 0 0 , 0
1 0 0 ,0
2 0 0 ,0
2 0 0 ,0
1 ,0 0 0 ,0
1 ,0 0 0 ,0
2 5 0 ,0
1 ,0 0 0 ,0
2 0 0 ,0
1 ,0 0 0 ,0
1 ,0 0 0 ,0
1 ,0 0 0 ,0
1 ,0 0 0 ,0
1 ,0 0 0 ,0
2 ,0 0 0 , 0
$
3 ,2 8 1 ,2
3 ,3 0 5 ,2
3 ,6 6 1 ,6
3 .7 2 3 ,9
4 , S 0 4 ,2
5 7 8 ,0
2 5 ,0 1 9 ,3
5 ,7 8 3 ,7
5 0 6 ,2
2 ,4 4 5 ,8
1 4 9 ,2
7 2 9 ,5
5 ,1 9 2 ,0
1 5 ,6 6 7 ,4
2 ,4 9 0 ,4
8 4 6 ,8
1 ,0 2 7 ,9
4 5 7 ,9
9 ,9 3 2 ,1
1 ,3 8 1 ,1
3 7 2 ,9
1 ,5 9 9 ,0
1 ,1 4 2 ,0
5 ,1 5 6 ,3
7 ,3 0 8 ,2
9 ,5 8 3 ,4
1 1 0 ,5
3 ,3 6 5 ,7
1 ,7 2 4 ,4
1 6 ,6 9 9 ,0
1 ,3 7 5 ,0
7 8 3 ,8
1 ,1 0 5 ,3
6 2 1 ,2
5 ,3 0 8 ,5
2 ,0 5 3 ,2
8 9 7 ,2
9 6 7 ,8
1 ,2 1 3 ,6
1 ,1 4 4 ,8
4 5 3 ,3
2 ,0 0 1 ,9
7 7 7 ,1
1 ,6 4 9 ,7
2 ,4 8 0 ,3
6 8 4 ,5
7 5 7 ,8
2 9 4 ,2
2 ,4 4 5 ,5
$
2 2 ,2 1 9 ,0
3 7 .8 0 0 ,0
2 0 ,8 5 4 ,0
3 0 ,3 3 5 ,0
2 9 ,2 4 2 ,3
7 ,2 7 5 ,0
2 0 4 ,1 6 3 ,5
3 0 ,2 9 1 ,5
6 ,6 3 8 ,5
9 ,8 6 4 ,4
2 ,1 3 7 ,9
6 ,6 7 1 ,5
3 4 ,5 5 7 ,9
1 7 0 ,6 6 4 ,9
1 2 ,0 2 9 ,1
3 ,4 1 0 ,4
6 ,8 1 5 ,1
1 ,9 0 0 ,3
6 8 ,6 4 4 ,6
2 2 ,8 4 4 ,0
4 ,8 4 1 ,5
7 ,6 9 1 ,0
1 2 ,0 8 9 ,1
4 2 ,7 3 4 ,0
2 7 ,8 3 8 ,6
9 2 ,2 2 7 ,0
1 ,1 6 8 ,1
2 7 ,4 9 8 ,0
1 0 ,SO S,0
1 3 4 ,1 9 1 ,8
1 9 ,2 6 8 ,9
1 ,9 7 8 ,0
7 ,5 7 8 ,4
3 ,9 8 3 ,4
8 5 ,2 2 7 ,5
1 2 ,7 0 0 ,5
3 ,4 5 2 ,4
4 ,7 4 6 ,5
1 4 ,5 8 1 ,1
7 ,2 5 9 ,9
3 ,0 6 5 ,7
1 1 ,2 5 9 ,8
4 ,1 7 5 .0
2 1 ,0 0 5 ,0
1 6 ,0 5 9 ,9
7 ,0 6 0 ,4
1 0 ,4 7 6 .0
4 ,7 1 9 ,4
1 8 .4 9 5 ,3
$
$
4 ,5 3 5 ,6
1 ,1 1 5 ,0
1 8 ,0 8 1 ,6
1 ,5 7 5 ,0
4 ,0 8 7 ,0
1 ,7 6 4 ,0
7 ,1 5 5 ,0
1 .7 0 1 ,0
5 ,7 0 8 ,5 2 ,5 9 8 ,3
1 ,7 0 5 ,0
3 3 3 ,0
4 3 ,5 8 3 ,7 8 ,2 7 3 ,0
' 5 ,8 2 6 ,7
1 ,9 0 9 ,8
1 ,2 1 6 ,5
5 3 8 ,6
1 ,3 5 4 ,1
7 4 0 ,0
5 3 2 ,5
7 1 ,6
1 ,7 6 4 ,5
2 0 0 ,0
6 ,9 7 6 3
1 ,4 3 1 .1
2 4 ,4 3 8 ,1 1 4 ,2 5 3 ,3
1 ,5 9 1 ,3
0 4 0 ,4
7 3 1 ,4
5 3 1 ,2
8 5 4 ,5 1 ,0 4 5 ,7
5 3 5 ,2
6 4 ,0
1 2 ,3 6 7 ,9 9 ,3 0 3 ,5
5 ,9 5 8 ,2
3 3 1 ,1
3 9 9 ,4
S 7 5 .4
1 ,9 2 0 ,8
1 ,0 0 8 ,3
3 ,3 6 0 ,4
1 3 6 ,8
6 ,9 6 1 ,0
5 ,9 4 4 ,0
4 ,9 1 9 ,0
1 ,6 4 6 ,0
2 5 ,5 0 2 ,0
1 ,7 5 5 ,0
3 9 3 ,6
1 9 2 ,9
4 ,6 3 7 ,0 2 ,7 7 0 ,0
2 ,8 0 9 ,0
2 9 0 ,0
3 3 ,5 5 2 ,8
1 ,0 7 9 ,8
4 ,6 7 7 ,7
8 4 9 ,7
7 5 3 ,0
6 3 ,0
1 ,2 9 1 ,6
6 4 5 ,8
7 4 2 ,3
2 3 2 ,5
2 4 ,8 6 6 ,4
4 ,7 4 0 ,6
2 ,5 9 4 ,8
1 ,2 7 3 ,0
3 6 5 ,8
6 8 9 ,3
7 8 4 ,9
6 0 2 ,5
3 ,0 0 4 ,8
1 ,0 6 3 ,5
1 ,7 9 8 ,8
5 0 9 ,0
4 4 5 ,4
3 4 4 ,3
1 ,9 9 9 ,1
9 6 8 ,0
9 3 7 ,0
2 5 2 ,0
5 ,0 0 0 ,0
1 ,5 4 0 ,0
3 ,5 1 4 ,3
2 0 4 ,1
2 ,0 1 6 ,9
2 5 6 ,2
3 ,5 6 0 ,0
2 5 4 ,0
7 6 2 ,0
6 0 5 ,4
4 ,1 2 8 ,6
2 2 7 ,1
Legals.
A verage.
D eposits.
Average.
R es ’ve.
$
2 1 ,3 8 3 ,0
5 3 ,3 5 0 ,0
2 2 ,3 5 6 ,0
3 2 ,9 6 9 ,0
3 2 ,1 9 4 ,6
6 ,8 1 6 ,0
2 0 0 ,8 2 4 ,1
2 9 ,9 3 6 ,5
6 ,9 1 6 ,0
8 ,0 9 1 ,9
2 ,2 8 2 .0
7 ,5 6 4 ,5
3 0 ,3 4 2 ,1
1 5 4 ,1 6 9 ,1
8 ,4 4 4 ,1
3 ,4 0 2 ,0
7 ,3 0 3 ,6
2 ,1 3 6 ,7
8 1 ,4 9 4 ,0
2 3 ,3 5 9 ,6
5 ,1 6 3 ,2
8 ,5 6 7 ,4
1 2 ,7 6 5 ,1
5 0 ,2 6 9 ,0
2 5 ,9 9 3 ,0
1 0 6 ,3 9 3 ,0
1 ,4 9 7 ,2
2 9 ,3 4 5 ,0
1 1 ,9 5 8 ,0
1 3 9 ,4 9 7 ,7
2 0 ,8 2 6 ,0
3 ,2 4 5 ,0
8 ,1 3 1 ,1
3 ,7 7 3 .5
1 0 3 ,1 0 9 ,5
1 4 ,3 2 2 ,4
4 ,0 4 2 ,1
5 ,4 7 8 ,4
1 5 ,9 4 5 ,8
7 ,6 8 9 ,2
3 ,2 1 5 ,6
1 1 ,4 8 9 ,1
4 ,6 1 5 ,0
2 5 ,0 8 6 ,0
1 5 ,8 4 5 ,9
8 ,5 0 4 ,2
1 3 ,3 8 4 ,0
5 ,1 6 9 ,0
1 7 ,4 1 6 ,7
%
2 6 .5
3 6 .8
2 6 .4
2 6 .8
2 5 .8
3 0 .5
2 5 .3
2 5 .8
2 5 .8
2 6 .2
2 6 .4
2 5 .9
2 7 .9
2 5 .2
2 6 .8
3 6 .4
2 6 .1
2 8 .0
2 6 .9
2 7 .2
2 4 .7
3 4 .3
2 7 .4
2 5 .6
2 5 .4
2 5 .6
3 2 .4
2 5 .3
2 5 .9
2 5 .0
2 0 .6
2 5 .2
2 4 .5
2 5 .8
2 8 .8
2 7 .2
2 6 .1
2 5 .1
2 5 .6
3 0 .4
2 4 .9
2 5 .8
2 5 .7
2 6 .1
2 3 .6
2 0 .7
2 8 .4
2 6 .4
2 5 .2
T o t a l s , A v e r a g e 1 2 6 ,3 5 0 ,0 1 6 3 ,7 2 0 ,1 1 3 4 7 ,1 4 5 ,3 2 9 6 .7 0 0 ,8 7 9 ,4 9 8 ,1 1 4 2 4 ,1 3 2 ,5 2 6 .5
A c tu a l fig u r e s
[Vol. Lxxxvn
THE CHRONICLE
1 5 1 4
D ec.
5 ..
.................
1 3 3 9 ,2 7 9 ,3 ^ 2 9 3 ,3 0 7 ,1 7 9 ,0 8 2 ,6 1 4 1 1 ,4 3 5 ,9 2 6 .5
u u m e D asis o r a v e r a g e s , c i r c u la t io n a m o u n t e d t o 3 4 5 ,9 5 9 .7 0 0 a n d u n i t e d S t a te s
d e p o s i t s ( I n c lu d e d In d e p o s i t s ) t o $ 8 ,7 9 9 ,7 0 0 : a c t u a l fig u r e s D e c . 5 - c i r c u la t o n ,
$ 4 6 , 3 2 4 , 7 0 0 ; U n it e d S t a t e s d e p o s i t s , $ 8 ,6 8 8 ,8 0 0 .
The State Banking Department also now furnishes weekly
returns of the State banks and trust 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. Further
more, in the case of this city, besides reporting the results for
the State banks and for the trust companies, separate figures
are presented to indicate the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. In the following we give all the different sets of
figures, indicating by plus ( + ) or minus (—) sign the changes
from the previous week. To make the statement as com
prehensive as possible, we start with the totals of the Clearing
House banks as contained in the above, giving both the
averages for the week and the actual figures at the end of
the week.
Y O R K C IT Y B A N K S A N D T R U S T C O M P A N IE S .
W e e k ending Decem ber 5 1 9 0 8 .
L o a n s and
R eserve on
In vestm ents.
S pecie.
I.egals.
D ep o sits.
D e p o s its,
0 0 s om itted.
C le a r in g -H o u s e
B a n k s — A c t u a l g l , 3 3 9 ,2 7 9 ,3 $ 2 9 3 ,3 0 7 ,1 $ 7 9 ,0 8 2 ,6 $ 1 ,4 1 1 ,4 3 5 ,9 $ 3 7 2 ,3 8 9 ,7
— 9 ,0 0 3 ,4
— 7 ,9 9 3 ,5 — 1 ,5 7 7 ,0
- 2 0 ,8 8........
0 ,4
— 9 ,5 7 0 ,5
C le a r in g -H o u s e
B a n k s — A v e r . . 1 .3 4 7 ,1 4 5 ,3
3 7 6 ,2 0 4 ,9
7 9 ,4 9 8 ,1
2 9 6 ,7 0 6 ,8
1 ,4 2 4 ,1 3 2 ,5
+ 6 ,6 0 8 ,2
— 7 ,7 2 0 ,4
— 8 ,2 6 9 ,5
— 1 ,2 4 2 ,5
— 5 4 9 ,1
S ta te B a n k s A v e r a g e .............. 2 9 4 ,3 1 2 ,7
5 7 ,9 6 0 ,2
1 0 4 ,1 9 1 ,8
3 5 0 ,5 2 3 ,4
2 5 ,1 7 4 ,7
+ 6 ,2 1 5 ,2
— 1 ,4 3 5 ,6
— 2 ,0 5 5 ,8
+ 4 ,6 8 1 ,9
— 1 3 4 ,7
T r u s t C o m p a n ie s—
A v e r a g e .............. 9 2 0 ,6 9 5 ,3
8 4 ,5 4 9 ,8
2 9 0 ,6 6 3 ,4
8 ,3 0 4 ,9
1 ,0 1 0 ,5 3 8 ,4
+ 2 0 ,1 2 4 ,7
— 6 ,4
— 7 ,1 5 1 ,9
+ 8 2 9 ,0
+ 1 3 ,6 9 2 ,5
S ta te B a n k s a n d
T r u s t C o 's — n o t
In C l e a r .- H o u s e l ,0 1 1 ,7 7 8 ,8
9 0 ,3 7 8 ,6
1 6 ,3 5 8 ,1
1 ,1 1 8 ,7 5 5 ,8
3 2 1 ,4 6 5 ,4
+ 2 0 ,5 8 7 ,6
— 1 7 2 ,6
+ 9 5 8 ,7
+ 1 3 ,9 1 4 ,7
— 8 ,0 1 4 ,2
STATE
P. C
R ese r v e.
0]
2 6 .5 3
2 6 .5 7
3 0 .4
3 1 .4
3 1 .2
BANKS
& T R U S T C O ’S O U T S ID E O F G R E A T E R N E W Y O R K .
W eek ending Decem ber 5 1 9 0 8 .
% of
L oan s.
R eserve.
R es.
D ep osits.
S t a t e B a n k s ......................................................$ 8 1 ,4 3 1 ,3 0 0
S 2 0 ,2 9 0 ,0 0 0
2 3 .7
S 8 8 ,3 0 1 ,9 0 0
+ 2 6 8 ,1 0 0
— 4 5 ,6 0 0
+ 1 2 6 ,1 0 0
T r u s t C o m p a n i e s ........................................... 1 2 3 ,0 9 0 ,6 0 0
2 3 ,9 9 0 ,8 0 0
1 3 2 ,8 0 2 ,4 0 0
1 8 .7
-----------+ 2 9 0 ,9 0 0
+___________
1 ,U S ,900
+ 6 6 8 ,3 0 0
+ I n c r e a s e o v e r la s t w e e k .
— D e c r e a s e fr o m la s t w e e k .
a In clu d e s b a n k n o te s,
b A f t e r e lim in a t in g th e Ite m " D u e fr o m r e s e r v e d e p o s i
t o r i e s a n d o t h e r b a n k s a n d t r u s t c o m p a n i e s in N e w Y o r k C i t y , ” d e p o s i t s a m o u n t t o
$ 9 3 3 ,1 2 7 ,0 0 0 , a n I n cr e a s e o f S 2 2 ,7 7 8 ,7 0 0 o v e r la s t w e e k ’s fig u re s .
N o te .— I n t h e c a s e o f t h e C l e a r in g -H o u s e b a n k s , t h e d e p o s i t s a r e “ n e t ” b o t h f o r
t h e a v e r a g e a n d th e a c t u a l fig u re s ; In all o t h e r ea s e s " g r o s s ” d e p o s i t s a r e s h o w n .
The
C le a r in g -H o u s e a c tu a l fig u re s I n c lu d e d U n ite d M a t e s d e p o s i t s a m o u n t in g t o $ 8 ,
6 8 8 ,8 0 0 , a d e c r e a s e o f $ 1 6 5 ,5 0 0 fr o m la s t w e e k : a v e r a g e s I n c lu d e U n it e d S t a te s
d e p o s i t s o f $ 8 ,7 9 9 ,7 0 0 , a d e c r e a s e o f $ 2 2 ,0 0 0 fr o m la s t w e e k .
" R e s e r v e o n d e p o s i t s ” I n c lu d e s , f o r b o t h t r u s t c o m p a n i e s a n d S t a te b a n k s , n o t
o n l y c a s h I te m s b u t a m o u n t s d u e fr o m r e s e r v e a g e n t s .
I n a d d i t io n t h e T r u s t
C o m p a n ie s a ls o o n D e c e m b e r 5 h e ld a b o n d r e s e r v e o f $ 2 9 ,9 4 7 ,5 0 0 .
T ru st C om
p a n ie s In N e w Y o r k S t a t e a r e re q u ir e d b y la w t o k e e p a r e s e r v e p r o p o r t io n a t e t o
t h e ir d e p o s i t s , t h e r a t io v a r y i n g a c c o r d i n g t o l o c a t i o n a s s h o w n b e lo w .
T h e p er
c e n t a g e o f r e s e r v e r e q u i r e d Is c o m p u t e d o n t h e a g g r e g a t e < f d e p o s i t s , e x c l u s iv e o f
m o n e y s h e ld In tr u s t a n d n o t p a y a b le w it h in 3 0 d a y s , a n d a ls o e x c l u s iv e o f tim ed e p o s i t s n o t p a y a b le w it h in 3 0 d a y s , r e p r e s e n te d b y c e r t ifi c a t e s , a n d a ls o e x c l u s iv e
o f d e p o s i t s s e c u r e d b y b o n d s o f t h e S t a te o f N e w Y o r k .
T h e S ta te B a n k s are
lik e w is e re q u ir e d t o k e e p a r e s e r v e v a r y i n g a c c o r d i n g t o l o c a t i o n , b u t In t h is ca s e
t h e r e s e r v e Is c o m p u t e d o n t h e w h o le a m o u n t o f d e p o s i t s , e x c l u s lv o o f d e p o s i t s
secu red b y b o n d s o f th e S ta te o f N ew Y ork RESERVE
R E Q U IR E D
F O R T R U S T C O M P A N IE S & S T A T E B A N K S
------ Trust C om pa n ies------ ----------------------- State R an ks------------Total O/ which In Cash.
Total 0 / which In C a sh .
Reserve -------------------------------R e s e r v e --------------------------------------Location—
R equired.
N o w . B y F e b . 1.
R equ ired. N o te. B y F e b . 1
M a n h a t t a n B o r o u g h ..................1 5 %
10%
15%
*25%
U '4 %
15%
B r o o k l y n B o r o u g h .......................1 5 %
7H %
10%
*20%
8 5 i%
10%
O t h e r B o r o u g h s ______ _________ 1 5 %
7 V i%
10%
15%
7ya%
7K %
E ls e w h e r e In S t a t e ____________ 1 0 %
._
4%
5%
*15%
5H %
6%
* T h is Is t h e a g g r e g a t e r e s e r v e r e q u ir e d o n a n d a ft e r F e b . 1 1 9 0 9 .
A c c o r d in g t o
t h e S t a te B a n k i n g D e p a r t m e n t , th e p r e s e n t a g g r e g a t e r e s e r v e r e q u i r e m e n t f o r M a n
h a t t a n Is 2 0 % ; f o r B r o o k l y n , 1 7 ^ % , f o r o t h e r b o r o u g h s , 1 5 % , a n d f o r t h e re s t o f
th e S ta te . I 2 y ,% .
R ep orts o f N on -M em ber B a n k s . —The following is the
statement of condition of the non-member banks for the
week ending Dec. 5, based on average daily results:
W e om it two ciphers ( 0 0 ) In all cases.
B a n k s.
C a pi
tal.
N . Y . C ity .
B oroughs of
M a n .& B r x .
$
1 0 0 ,0
W a sh . H g ts
2 0 0 ,0
C e n t u r y ___
4 0 0 ,0
C o l o n i a l ___
3 0 0 ,0
C o lu m b ia . .
2 0 0 ,0
F i d e l i t y ___
5 0 0 ,0
J e f f e r s o n ___
2 5 0 ,0
M t. M o r ris.
2 0 0 ,0
M u t u a l _____
3 0 0 ,0
1 9 th W a r d .
1 0 0 ,0
P la z a ...........
1 0 0 ,0
23rd W a r d .
7 5 0 ,0
U n io n E x c h
1 0 0 ,0
Y o r k v llle . .
5 0 0 ,0
C o a l* I .N a t
2 0 0 ,0
N e w N e t h l’ d
2 0 0 ,0
B a tt P k N at
Borough of
Rrooklt/n.
1 5 0 ,0
B road w ay .
M frs ’ N a t . .
2 5 2 ,0
M e c h a n ic s ’ . 1 ,0 0 0 ,0
7 5 0 ,0
N assau N a t.
3 0 0 ,0
N a t. C i t y ..
1 0 0 ,0
N o r th S id e .
J e rse y C ity .
4 0 0 ,0
F ir s t N a t . .
H u d .C o .N a t
2 5 0 ,0
T h ir d N a t . .
2 0 0 ,0
H oboken.
F ir s t N a t . .
2 2 0 ,0
S econ d N a t.
1 2 5 ,0
T o t. D e c .5
T o t . N o v .2 8
T o t . N o v . 21
8 ,1 4 7 ,0
8 ,1 4 7 ,0
7 ,8 4 7 ,0
S u r
p lu s.
L o a n s,
D is c ’ts
and
In vest
m ents.
S pecie.
Legal
Ten der
and
B ank
N o te s.
D ep o sit with
Clear
ing
A g e n t.
Other
B a n k s.
& c.
N et
D ep osits.
$
2 0 7 ,5
1 4 5 ,3
2 2 5 .0
4 2 5 ,9
1 7 5 ,2
6 7 3 ,3
2 6 4 ,6
3 1 7 ,8
4 7 0 ,4
3 9 S .3
1 8 2 ,2
8 1 8 ,9
3 9 3 ,3
7 0 8 ,0
2 3 1 ,9
1 4 2 ,4
$
1,0 11,(1
1 ,6 6 9 ,3
4 ,0 0 0 ,8
5 ,5 2 3 ,0
8 8 1 ,0
3 ,1 4 3 ,4
2 ,1 5 9 ,7
3 ,4 4 6 ,6
3 ,5 3 1 ,3
3 ,6 5 7 ,0
1 ,5 8 2 ,1
6 ,8 0 0 ,2
3 ,3 7 8 ,5
4 ,6 2 0 ,0
1 ,6 1 7 ,0
1 ,0 1 5 ,5
S
7 9 ,6
3 4 ,6
5 9 8 ,0
5 6 5 ,0
7 2 ,3
2 6 ,0
3 7 8 ,2
3 0 ,3
0 8 ,8
2 2 1 ,0
1 6 9 ,0
7 8 1 ,9
6 4 ,6
9 1 0 ,0
1 4 4 ,0
2 0 9 ,1
$
4 0 .0
2 1 3 ,6
2 6 7 ,1
5 2 6 ,0
2 4 ,9
2 9 0 ,6
3 7 ,2
4 5 8 ,8
5 4 7 ,8
2 9 0 ,0
5 5 ,5
6 0 0 ,0
7 1 4 .7
3 5 8 ,0
4 7 ,0
2 9 ,3
$
1 3 5 ,0
1 5 7 ,6
4 3 8 ,7
7 9 2 ,0
1 6 9 ,8
2 9 4 ,6
4 5 3 ,5
6 3 7 ,6
5 3 2 ,8
5 5 1 ,0
2 2 8 ,5
5 7 8 ,1
2 5 9 ,3
6 1 9 ,0
2 5 2 ,0
0 2 ,0
4 2 0 ,1
7 7 5 ,2
8 3 6 ,1
9 3 9 ,3
5 7 5 ,6
2 1 6 ,7
2 ,8 6 0 ,7
5 ,4 1 2 ,7
9 ,8 3 4 ,0
6 ,7 0 1 ,0
4 ,1 4 9 ,0
1 ,5 2 9 ,7
1 5 ,7
0 4 2 ,2
2 4 9 ,3
3 3 9 ,0
1 1 8 ,0
4 9 ,0
3 9 0 ,9
1 0 8 ,6
1 ,5 1 4 ,2
6 7 8 ,0
5 9 2 ,0
1 8 8 ,9
2 2 7 ,1
9 1 4 .7
1 ,1 7 2 ,8
1 ,2 8 2 ,0
7 9 8 ,0
2 0 8 ,6
1 8 6 ,0
1 7 0 ,9
3 ,3 5 1 ,5
6 ,2 2 0 ,6
1 2 ,6 6 9 ,7
7 ,1 3 1 ,0
6 ,4 4 6 ,0
1 ,9 0 3 ,3
1 ,2 1 4 ,5
7 1 5 ,7
3 6 7 ,3
4 ,0 0 0 ,6
2 ,4 9 7 ,6
1 ,7 9 8 ,7
1 9 1 ,5
1 7 7 ,2
6 0 ,0
3 0 8 ,7
3 6 ,0
1 4 1 ,8
2 ,5 3 4 ,9
2 9 4 ,2
7 0 7 ,5
1 ,5 3 2 ,0
4 0 0 ,6
5 5 ,9
6 ,8 2 9 ,5
2 ,6 1 5 ,3
2 ,5 7 6 ,3
6 1 0 ,6
2 1 3 ,1
2 ,4 5 2 ,0
1 ,9 7 5 ,7
1 2 7 ,4
8 3 ,0
3 3 ,0
6 5 ,8
1 5 0 ,2
7 7 ,7
1 4 5 ,6
2 7 0 ,8
1 2 ,6 6 4 ,2
1 2 ,6 1 9 ,2
1 2 ,9 3 9 ,8
9 1 ,3 2 6 ,7
9 0 ,4 6 7 .3
9 0 ,5 6 0 ,4
6 ,4 0 4 ,1
6 ,5 2 5 ,5
0 ,6 1 4 ,2
8 ,5 4 8 ,4
8 ,4 0 6 ,6
8 ,1 8 8 .2
1 4 ,5 2 9 ,8
1 5 ,5 9 9 ,4
1 5 ,5 6 4 ,1
$
4 9 4 ,0
5 7 1 ,2
3 1 7 ,3
9 0 ,0
. 5 ,1
1 ,1 1 8 ,9
1 4 0 ,0
1 5 ,0
1 5 7 ,2
1 9 0 ,3
1 5 0 ,4
$
9 4 3 ,0
2 ,0 4 3 ,9
5 ,3 5 5 ,1
6 ,8 6 1 , 0
8 3 0 ,4
3 ,2 0 8 ,8
2 ,9 4 4 ,5
4 ,1 2 3 ,1
5 ,3 2 8 ,8 4 ,2 0 8 ,0
1 ,8 6 0 ,7
7 ,2 2 0 ,4
4 ,3 4 1 ,4
5 ,1 5 0 , 0
1 ,7 4 0 ,0
8 9 0 ,0
2 ,2 1 3 ,0
2 ,3 2 8 ,0 -
6 ,0 1 7 ,2 1 1 0 3 5 1 ,3
5 ,8 1 5 ,6 1 0 9 2 1 1 ,8 6 ,0 1 0 ,9 1 1 0 3 9 4 ,0
N ew Y o rk C ity , B o s to n and P h iladelphia B a n k s . —Belowis
a summary of the weekly totalsof the Clearing-House banks of
New York City, Boston and Philadelphia. The New York
figures do not include results for non-member banks.
W e om it two ciphers In all these figu res.
B a n k s.
Capital
and
S u r p lu s.
L o a n s.
S pecie.
Legals.
D ep osits, a
C ircu
lation.
Clearings.
N ew Y ork
N ov. 7 ..
N ov . 1 4 ..
N ov. 2 1 ..
N ov .2 8 ..
D ec. 5 --
$
2 9 0 ,0 7 0 ,1
2 9 0 ,0 7 0 ,1
2 9 0 ,0 7 0 ,1
2 9 0 ,0 7 0 ,1
2 9 0 ,0 7 0 ,1
$
1 3 2 3 ,1 4 2 ,1
1 3 2 8 .1 4 7 .6
1 3 3 2 ,7 7 3 ,1
1 3 4 0 ,5 3 7 ,1
1 3 4 7 ,1 4 5 ,3
$
3 0 1 ,1 1 6 ,9
3 0 2 , OSS. 1
3 0 3 ,3 9 0 ,5
3 0 4 ,4 2 7 ,2
2 9 6 ,7 0 6 ,8
$
7 8 ,3 9 3 ,3
7 9 ,0 0 4 ,5
7 9 ,7 1 6 ,2
8 0 ,0 4 7 ,2
7 9 ,4 9 8 ,1
$
1 3 9 6 ,9 2 0 ,9
1 4 0 3 ,5 2 2 ,6
1 4 1 4 ,0 2 8 ,3
1 4 2 5 ,3 7 5 ,0
1 4 2 4 ,1 3 2 ,5
$
5 2 ,6 3 4 ,1
5 2 ,4 3 1 ,8
4 7 ,9 0 1 ,3
4 5 ,5 4 2 ,1
4 5 ,9 5 9 ,7
$
1 ,8 0 9 ,4 1 1 ,1
2 ,3 4 5 ,9 7 0 ,6
2 ,1 7 2 ,3 8 3 ,0
1 ,6 8 9 ,1 1 9 ,2 2 ,1 9 0 ,1 1 6 ,9
N ov. 1 4 ..
N ov. 2 1 ..
N ov .2 8 ..
D ec. 5 --
4 1 ,7 9 0 ,0
4 1 ,7 9 0 ,0
4 1 ,7 9 0 ,0
4 1 ,7 9 0 ,0
2 1 2 .4 2 0 ,0
2 1 0 .4 2 9 .0
2 1 0 ,7 5 6 ,0
2 1 1 ,5 9 6 ,0
2 6 ,6 4 5 ,0
2 6 ,6 9 4 ,0
2 5 ,6 5 0 ,0
2 5 ,1 3 8 ,0
4 ,1 1 9 ,0
4 ,0 5 8 ,0
4 .4 1 4 ,0
4 ,5 2 1 ,0
2 6 5 ,7 3 4 ,0 1 0 ,1 9 8 ,0
2 6 3 ,0 6 9 ,0 8 ,7 8 3 ,0
2 5 7 ,0 5 7 ,0 8 ,6 2 1 ,0
2 0 1 ,2 0 5 ,0 8 ,7 6 3 ,0
1 8 6 ,2 9 4 ,8
1 8 7 ,4 3 1 ,1
1 3 8 ,4 9 4 ,3 1 7 3 ,3 5 9 ,1
N o v . 1 4 ..
N ov. 2 1 ..
N ov .2 8 ..
D ec. 5 - .
5 4 ,3 9 0 ,0
5 4 ,3 9 0 ,0
5 4 ,3 9 0 ,0
5 4 ,3 9 0 ,0
2 4 7 ,4 2 5 ,0
2 4 7 ,0 0 4 ,0
2 4 5 ,9 9 5 ,0
2 4 5 ,9 6 5 ,0
1 3 9 ,2 2 5 ,0
3 0 9 ,0 8 7 ,0 1 3 ,3 5 7 ,0
1 4 2 ,0 2 2 ,1
3 0 8 ,5 0 2 ,0 1 3 ,2 3 0 ,0
1 1 7 ,2 7 9 ,3
3 0 5 ,8 3 7 ,0 1 3 ,2 2 8 ,0
1 3 8 ,9 0 7 ,7
3 0 6 ,3 7 9 ,0 1 3 ,2 4 3 .0
, a In clu d in g G o v e r n m e n t d e p o sits, a n d fo r B o s to n a n d
P h ila d e lp h ia t h e Ite m
‘d u o t o o t h e r b a n k s .”
A t N e w Y o r k G o v e r n m e n t d e p o s its a m o u n te d t o $ 8 ,
7 9 9 ,7 0 0 o n D e c e m b e r 5 , a g a in s t $ 8 ,8 2 1 ,7 0 0 o n N o v e m b e r 2 8 ' a t B o s t o n t o S I , 5 5 9 ,0 0 0 o n D e c e m b e r 5 a n d $ 1 ,5 8 2 ,0 0 0 o n N o v e m b e r 2 8 .
Umiri
8 2 ,1 7 5 ,0
8 0 ,5 5 1 .0
8 2 ,0 3 3 ,0
8 2 ,3 6 0 ,0
THE CHRONICLE
Dec. 12 1908.1
Ipawfcmg <wd ffitm w cM .
TH E B A N K OF M O N TREAL.
PROCEEDINGS AT TH E N IN E T Y -F IR S T AN N U AL
M EETING OF TH E SH A R E H O LD E R S,
H ELD DEC. 7 1908.
(From the Montreal “ Gazette.” Dec. 8 190S.)
The ninety-first annual general meeting of the Shareholders of the Bank
of Montreal was held in the Board Boom of the institution yesterday,
at noon.
There were present:—Sir George Drummond, K .C.M .G ., President;
Sir Edward Clouston, Bart., Vice-President and General Manager; Sir
William C. Macdonald, Sir Thomas G. Shaughnessy, Hon. Itobert
Mackay, Messrs. R . B. Angus, E . B . Greensliields, Charles It. Hosmer,
David Morrice, Alexander T. Paterson, G. F . C. Smith, Huntly It,
Drummond, Lieut.-Col. Prevost, B . A. Boas, James Tasker, W. It. Miller.
Jam es Kirby, K .C .; R . W. Shepherd, ltoswell C. Fisher, Henry Mason,
Wm. Stanway, W. B . Blackader, Bartlett McLennan, Henry Joseph,
It. Campbell Nelles, Henry Dobell and M. S. Foley.
On motion of Mr. It. 1L Angus, seconded by lion. Itobert Mackay,
Sir George Drummond, President, was unanimously voted to the chair,
after which it was resolved: “ That the following be appointed to act as
scrutineers: Messrs. G. F . C. Smith and Bartlett McLennan; and that
Mr. James Aird be secretary of the meeting.”
Sir Edward Clouston then submitted the report of the Directors as
follows:
T H E D IR EC T O R S’ R E PO R T .
The Directors have pleasure in presenting the Report showing the result
o f the Bank’s business for the year ended 31st October, 1908:
Balance of Profit and Loss Account, 31st October 1907----- §099,969 8S
Profits for the year ending 31st October 1908, after deducting
charges of management, and making full provision for all
bad and doubtful debts------------------------ ----------------- 1,957,658 68
$2,657,628 56
March 1908 —
3360,00000
360,00000
June 19 0 8 ._ ._
September 1908_ 360,00000
1st December 1908360,00000
paid 1st
paid 1st
paid 1st
payable
-
Dividend 21^ %
Dividend
Dividend 2 14%
Dividend ~'A%
Amount credited to Rest Account------------
31,440,000 00
1,000,000 00 2,440,000 00
Balance of Profit and Loss carried forward. . ......................... 8217,628 56
Since the last Annual Meeting Branches have been opened at Stirling’
Ont., Gretna, Man., Grimsby, Ont., St. Hyacirithe, P. Q., Hosmer, B. C.j
■ and Sherbrooke, P. Q., and Sub-Agencies at Magrath, Alta., Cardston’
Alta., and Peel Street (Montreal). The arrangements mentioned in out
last Report for opening a Branch at Prince Rupert have not yet been
■ completed. The Sub-Agencies at Sherman Avenue (Hamilton) and
Queensvilie, Ont., have been closed.
With deep regret the Directors have to record the death of their esteemed
•colleague, Sir -Itobt. Reid, who had been a member of the Board for up
wards of eight years.
The vacancy on the Board has been filled by the election of Mr. C. RHosmer.
All the Offices of the Bank, including the Head Office, have been
inspected during the year.
(Signed)
G. A. DRUMMOND,
President.
Bank of Montreal, 7th December 1908.
G E N E R A L STA TEM EN T.
The General Statement of the position of the Bank 31st October 1908
is as follows:—
Liabilities.
Capital Stock................................ ............................... .............. 314,400,000 00
Rest!
................. ............ ........................... 312,000,000 00
Balance of Profits carried forward-------217,628 56
§12,217,628 56
iTnpluiined D ivid en ds____________________
Quarterly Dividend, payable 1st Dec. '08
2,803 01
360,000 00
12,580,431 57
26,980,431 57
*
Notes of Bank in circulation...................... 3 12 ,4 17 ,13 2 00
Deposits not bearing interest........... ........, “ 8,766,918 23
Deposits bearing interest — --------- - — 105,192,36o 64
Balances due to other banks in Canada-.
112 ,3 12 36
156,488,728 23
3183,469,159 80
Gold and Silver coin current...................... 35,168,887 33
Government demand notes____________
9,542,088 25
Deposit witli Dominion Government re
quired by Act of Parliament for security
of general bank note circulation...........
600,000 00
Due by agencies of this
.
bank and other banks
in Great Britain-------- $7,331,267 66
Due by agencies of this
bank and other banks
in Foreign countries.. 11,959,588 00
Call and short loans in
Great Britain and
United States ........... 40,689,956 00
-
u
------------------------------------
5 9 ,9 8 0 ,8 1 1
66
Dominion and Provincial Government
S e c u r it ie s
..........................................- - ....................
Railway and other Bonds, debentures
jlj^ J
stock s_
_______ .
Notes and cheques of other Banks...........
9 5 6 ,5 6 2 0 7
Oi 1U O iM io •)i
3,492,713 65
87,846,290 53
1 5 1 5
B r o u g h t f o r w a r d _____________________________________________________
Bank Premises at Montreal and Branches-------------------Current Loans and discounts in Canada
and elsewhere (rebate interest re
served) and other assets____________ $94,762,020 73
Debts secured by mortgage or otherwise.
176,404 85
Overdue debts hot specially secured (loss
provided for)______________ ________
84,437 69
$87 ,846,206 53
600,000 00
95,022,863 27
$183,469,159 80
E . S. CLOUSTON,
Bank of Montreal,
General Manager.
Montreal, 31st October 1908.
T H E P R E S ID E N T ’S R E M A R K S .
The President, in moving the adoption of the directors’ report, said"
A year ago business in the United States was staggering under a sudden
collapse of credit and acute money stringency, while in Canada the brakes
had been applied and the slowing down process had begun. To-day the
situation is much improved, confidence has been largely restored, credit
is again good, the money markets of the world are abnormally easy, but
the volume of trade has been considerably diminished. Measured by
the value of imports, the shrinkage in Canada within a year has been
approximately 20 per cent, namely, from $362,460,000 to S297,300,000,
the figures being for the 12 months ending October 31st 1907 and 1908
respectively.
On the other hand, the value of domestic exports in the same period
has been well maintained, being $231,500,000, as against $244,200,000
last year.
The daily business of the country, as gauged by bank note circulation,
at no time showed a shrinkage exceeding 5 per cent.
In view of the great excess to which imports had grown over domestic
exports, amounting to upwards of 100 million in 1907, the subsequent
contraction in imports must be regarded as a healthy condition. The
gap between exports and imports may be still further contracted with
advantage, and it is to be hoped that this process will be steadily con
tinued. No doubt this reform was assisted by the repeated recommen
dations of economy emanating from all financial quarters, and it is
gratifying to note that the liquidation process compelled by monetary
conditions has been accomplished in Canada with, upon the whole, little
disturbance, and practically without any great disaster.
Commercial loans have been reduced by the banks sixty millions,
or upwards of 10 per cent, with a contraction of less than 5 per cent in
the volume of domestic trade as measured by note circulation.
Immigration has fallen off about 50 per cent, but the quality of late
has been good, farmers and farm laborers predominating.
The great feature of the year lias been the excellent crops secured by
the Northwest Provinces, Manitoba, Alberta, Saskatchewan, variously;
estimated as in wheat 105 to 1 1 5 million bushels; oats, 100 million bushels
barley, 25 million bushels; in addition crops of flax, potatoes, etc. The
money value of the grain crops to these farmers will approximate 125
million dollars earned by a territory practically deserted up to a com
paratively recent date. We have further from the same territory the
report that an unusually large percentage of fall ploughing has been done,
that the land is in the very best condition, and a very considerable in
crease in acreage indicated for next season.
The export demand for our surplus farm products has been above the
average, and a large proportion of these has already been marketed. In
Ontario and Quebec, however, .the brilliant prospects of spring were
somewhat clouded over by a long continued mid-summer drought. As
regards the special business of this port, the exports of wheat and oats
were in excess of last year, being respectively 27,485,034 and 1,268,803
bus els. Most other grains were somewhat short.
Shipping—There is a wide-spread depression in shipping, the extent
of which may be imagined from a report from the North of England that
about a miPion tons of steamers were already laid up, and many more
will require to go into the ranks of the unemployed during the winter.
Notwithstanding this the trade of the St. Lawrence has fairly well held
its own. Some voyages no doubt were unremunerative on account of
vacant space, but both passengers and freight were, upon the whole,
profitable, which is another proof of the advantages which the St. Law
rence route possesses. The tendency in all new vessels is towards in
creased size and carrying capacity, demanding due provision in al
harbor and channel work of the future.
The Lumber Trade—The exports of lumber and deals for the past
year to both Europe and the United States have fallen below those of the
year previous, both in volume and value. Fine deals have declined $3 to
$4 per 1,000 feet, and spruce 32 per 1,000 feet, from which decline there
has already been a partial recovery. This is considered a favorable
omen, and a sign that the depression which has hung over the lumber
trade for some time past is about to be dispersed, and that a more active
business in the future may be looked for.
The British market shows an improvement, I.iverpool advices being Of
a more cheerful tone. Quebec pine and spruce deals are being enquired
for, and as stocks are somewhat heavy, their realization would be a
great help to the trade.
The opinion seems to prevail that the turning point has been reached,
and that better times are near at hand.
Exports— As regards the exportable products, it may be said that
eggs, cheese, ham, bacon and meats, butter and apples, all showed a
falling off, and wholesale grocery houses, after having felt the depression
in business in the past year, now speak of a decided improvement, with
brightening prospects for the coming year.
Exports of produce—The value of the principal exports of produce
from this port during the past season of navigation are computed as
follows:
332,948,000
Grain and Hour. 19,157,000
Butter and cheese
.
2 ,1 0 1 ,0 0 0
llam s and baconTotal .....................................- ............... ....................................... $54,206,000
If to the above we add the exports of cattle, $4,716,700, we have a
grand total of $58,922,700.
1516
TH E CHRONICLE
Dry goods— ThefefTects of the panic of last October were not immediat ely
felt by the dry goods trade. The general trade was so good in 1907 that
the full effect did not appear until January 1908. For six months pre
vious to that a certain amount of taking in of extra canvas had been
going on, as money had been very scarce. Arrangements had been made
before October for a probable decrease in sales for spring, 1908, but the
decrease in turn-over was a great deal more than anticipated, reaching
as much as 20 to 30 per cent from 1st January to 1st June. After that
the improvement began, and for the fall six months the loss of business
was about half this amount, or 15 per cent.
•
Buying has been conducted everywhere on conservative lines for next
spring season, 1909, which is just beginning. Orders taken in advance
by the travelers are very fair.
The capacity of the Canadian cotton mflls and calico printers is likely
to be taxed in many lines to its full capacity, as they have received large
orders which last year were placed in Manchester. Fine and coarse
wools have advanced in England, and manufacturers of woolen dress
goods in France have refused orders, except at an advance in price.
The good crops have helped collections very much, and the financial
state of the retail trade is quite satisfactory. Comparatively few bad
debts have been made by the wholesale trade during the year. (This is
one of the features of this panic, as the Bank of Montreal returns show.)
Generally the prospects seem distinctly improved, and the outlook
decidedly hopeful.
Iron and Hardware— While some of our large wholesale firms complain
that business has fallen off in the past year, everything points to an
increased trade in the future. Manufacturers of iron and steel report
increasing orders for future delivery, and a heavy spring business is
anticipated.
Leather— Both business and profits have been curtailed in the past
year, owing partly to the increased cost of hides and the low price of
leather, but prospects for the coming year are most encouraging. The
allied trade of boots and shoes shows very similar results for the year.
Railway construction—The past year certainly was, and the present
holds out the prospect of being, emphatically the era of railway con
struction. The Grand Trunk Pacific between Prince Rupert and Moncton
is likely to occupy a considerable time, while it cannot be overlooked
that most of the other railways in the country have been occupied with
extensions much greater than the public have any idea of. For example,
the Canadian Pacific Railway at the end of June had over 700 miles under
construction in different sections of the country, and the Canadian
Northern was also engnged in increasing its mileage in Quebec and the
western provinces.
The vast importance of the improvement of the agricultural products
of the country must be an excuse for introducing a subject occupying a
great deal of attention in other countries as well as here, and closely
bound up with the prosperity of the country, and, of course, of this and
other banking institutions. When we reflect that the annual value of
the products of the soil of Canada must exceed four hundred millions of
dollars, any percentage of increase in quantity or improvement in quality
of our crops becomes of enormous importance. For example, if by
selection of the seed or by hybridizing, with the light thrown on this
subject by Mendel’s discovery, the wheat plant can be made to increase
its yield or shorten the period of ripening, even by days, it might mean
the difference in the North-West of saving or losing a large percentage
of the crop.
In the magnificent installation of Sir Wm. Macdonald at St. Anne’s
which, after all, is only the continuation and culmination of his work in
the same direction all over the Dominion, this question of improvement
in the grain plant and in the fertilizing of the soil has been a subject of
careful research and experiment, and no doubt will continue to be so
Dr. Robertson is sanguine enough to state that within five years past an
increase of more than 25 per cent has been obtained over large areas in
Canada, on the average yield per acre of wheat, barley and oats by im
provement in the quality of the seed sown. It is not too much to hope
that this improvement will continue as fresh discoveries are made and
their application extended, and that the research and experimental
department of the Macdonald and other colleges will prove the most
important institutions in the countrv.
I beg to move: "That the report of the Directors now read be adopted
and printed for distribution among the shareholders.” If any share
holder has any questions to ask, we shall be pleased to answer them.
T H E V IC E -P R E SID E N T .
The Vice-President then spoke as follows:—
Since I last had the pleasure of meeting you and giving an account of
my stewardship, we have passed through a very momentous financial
year. For several months our American neighbors were not, practically
on a specie basis, and though in Canada we considered that we were in
a fairly sound condition, we were somewhat in the position of a man living
in a fire-proof house with his neighbor’s residence ablaze. lie believes
himself safe, but is naturally nervous as to the result. I said, in a fairly
sound condition, for though our state was satisfactory enough for normal
times, the country's great prosperity had brought "about an abnormal
demand for money. We were overtrading on inadequate capital: every
one, from the Government to the individual, was spending too much
and living too extravagantly. Canada’s financial resources were strained
to the utmost, and when, in addition, there came a crisis in the United
States, and extraordinary conditions elsewhere (witness a 7% Bank of
England rate), we certainly had grounds for uneasiness, and good
reason for putting on the brakes, financially, in rather an emergent
manner. Fortunately, some of us had begun to do so before the crisis
arrived. The general result of all this disturbance has been beneficial,
and what I said last year, that we would eventually reach a better and
a sounder basis, is coming to pass. Largely as the result of a harvest
of exceptionally high quality, which is realizing excellent prices, Canada
to-day is in a good commercial position, and can look to the future with
renewed hope and satisfaction. Not that we are in a condition to start
a boom; but if our people will continue the conservative policy which is
at present animating their conduct of business, we will emerge stronger
and better in every way.
Reference to the record of commercial failures which, during the past
year, have increased from 810,000,000, the average of recent years, to
816,000,000, brings home the reality of the dangers which have threatened
our industrial welfare. These are large figures, but considering the
strain and stress of the times, the great expansion in business, and the
heavy stocks carried last autumn, we may reasonably consider the
commercial community to have weathered trie storm fairly well,- and I
think it may be claimed that the banks did their share in carrying them
through a season of trouble.
During the year we have had three bank failures— The Sovereign Bank
or Canada. La Banque de St. Jean, and the Banque de St. Hyaeinthe.
It is hardly necessary to state that in no case have the note-holders
sutrered, and it is worthy of notice that since the circulation came more
directly under the supervision of the Canadian Bankers’ Association,
there has been no failure of a bank which has disclosed any tampering
W1“ | *ts circulation, either by over-issue or otherwise.
through the assistance of a number of the banks, the Sovereign Bank
is being liquidated without loss to its depositors. This was a case of
modern banking, where unusual methods were adopted to attract
deposits, and depositors can hardly be blamed if in the future they look
askance at any bank which adopts catchpenny means of soliciting the
savings of the people. They will certainly be justified in considering
them eV1CCS Slgns of weakness on the part of the institution employing
The two other banks which I mentioned were small a ffa ir, whose fail
ures affected only the communities they served, but to the credit of those
communities be it said that they behaved with admirable self-control
under trying circumstances. In each case the difficulty was too serious
to warrant outside banking assistance. Whilst, however, the failure of
the St. Jean institution was consequent upon mismanagement, the re
sponsibility for which the crimjnal courts have been called upon to fix,
that of the Banque de St. Hyaeinthe shows how bad business, contracted
[V O L . L X X X V II.
originally by over-ambitious management, becomes an ever-increasing
incubus, which must infallibly prove the downfall of a small and localized
concern.
In Ju ly last a brief Act of Parliament amended the Bank Act to the
extent of enabling banks during the usual season of moving the crops
(1st October to 31st January) to issue additional notes to the amount
of 15% of each bank’s combined capital and reserve.
M
Although desirable as a precaution against any sudden shortage of
currency, such as our neighbors sometimes suffer from, very little use
has yet been made of the privilege by the banks. This season, at least,
it was not a necessary facility, as shown by the fact that, at the close of
October, the balance of notes of chartered banks available for circulation
exceeded $19,000,000: this, too, notwithstanding an unusually heavy
crop, which had to be moved in a limited period.
The explanation is, no doubt, that the increased number of branch
banks in the country has become an important factor in assisting the
crop movement, giving the farmer quick payment for his grain and aiding
the prompt deposit of its proceeds. Thus circulation is returned to the
banks with little delay, enabling them to re-issue notes and taking them
out of the pockets of the farmers, where, in former years, they became
locked up.
t
The prominent feature of the present situation as contrasted with thas
of a, year ago is the world-wide plethora of money. The contrast iv
rendered greater by the fact that the late stringency was intensified b -V
senseless hoarding, not only by individuals, but in some cases by banksbuch hoarding aggravated that want of confidence by which it was be
gotten, and rendered the crisis more acute. When, after the turn of the
year, the normal financial loosening took place, the hoarded funds came
out and swelled the supply of available cash. This soon became of
unusual volume, owing to an enforced general liquidation and a desire
t0 IJk>;ce business on a basis more commensurate with the capital employed.
VVnen Europe untied the purse strings once more, she facilitated the
liquidation of Government and municipal advances at home by the flotatatlon.of loans in foreign countries. Thus it has come to pass that our
deposits have increased 817,000,000, while our loans, other than call,
have decreased S10,000,000, making our present percentage of immedi
ately available assets 57% , as against 43% a year ago. Containing such
features, the financial statement laid before you shows an exceptionally
strong position—stronger, indeed, than is necessary. Unfortunately, it
1£> not a money-making position, as the rates ruling in the London and
New York markets, where we are obliged to carry a large portion of our
reserves, are unusually low, and I am afraid we cannot look forward to
very good profits during the coming year. But, after all, lean years will
come, and as history repeats itself, it proves, in its application to banking
at least, that conservative methods are the only ones which can safely
be employed alike in times of prosperity and leanness, to build, in fair
weather, a structure which will not be shaken by the inevitable storm.
the Vice-President having seconded the motion, Mr. Roswell O. Fisher
referred to the asset of 8600,000 for bank premises at Montreal and
branches.
Last year we were told no reason was seen for altering the
statement. I think there is one, as the shareholders no not know in
the slightest degree the value of the premises, and therefore cannot
criticise the expenditure. If we knew approximately how much was
being spent in additions to bank premises all over this country, we would
probably be in a position to criticise. We might also say, it statements
are not correct in one case, how are we to know that the others are not
equally incorrect?”
'the Vice-President— "The new board coming in will take the matter
y!1?0.consideration, and see if they will alter the formal statement. I
think it is an error on the right side.”
The motion for the adoption of the directors’ report was then put, and
was carried unanimously.
Mr. B . A. Boas remarked: “ Before moving the resolution I hold in my
hand, I have a few words to say, and I have no doubt all the shareholders
will join with me in congratulating our Vice-President on the great
honor which has been shown him by His Majesty the King. We all
trust he will live for many years to enjoy the distinction and to be the
guiding spirit of this Bank. I now move:
"That the thanks of the meeting be presented to the President, the
Vice-President and Directors for their attention to the interests of the
Bank.”
This was unanimously concurred in. after which Mr Charles R . Hosmer
moved: “ That the thanks of the meeting be given to the General Man
ager, the Assistant General Manager, the Inspectors, the Managers and
other officers of the Bank for their services during the past year.”
This was seconded by Sir Thomas Shaughnessy, and was unanimously
agreed to.
The Vice-President, in returning thanks, said: "W ith reference to Mr.
Boas’s kind remarks, I do not look upon the honor given me by His
Majesty as an honor to me personally, but because of the position I
occupy— 1 was Chief Executive Officer of this Bank and also President
of the Bankers Association—it is an honor to the Bank of Montreal and
to the Canadian Bankers’ Association.”
Mr. W. R . Miller moved: “ That the ballot now open for the election
of Directors be kept open until 2 o’clock, unless fifteen minutes elapse
without a vote being cast, when it shall be closed, and until that time,
and for that purpose only, this meeting be continued.”
This was seconded by Mr. Jam es Tasker and was carried unanimously
T H E D IREC TO RS.
.
The ballot resulted in the election of the following directors:—
It. B . ANGUS.
S IR EDW ARD CLOUSTON, B A R T .
HON. S IR G EO RG E DRUMMOND, K .C.M .G ., O.V.O.
E . B . G R E E N SH IE L D S.
C H A R LES R . HOSMER.
S IR W ILLIAM C MACDONALD.
HON. R O B E R T M ACKAY.
DAVID M ORItlCE.
A L E X A N D E R ^ . PA TERSO N ,
JA M E S ROSS.
S IR THOMAS G. SH A U G H N ESSY, K.C.V.O .
T H E RIG H T HON. LORD STRATHCONA AND MOUNT R O YA L
G.C.M.G., G.C.V.O.
’
The Honorary President, the President and the Vice-President will in
the ordinary course of business be elected at to-day’s meeting of the
directors.
W e shall be pleased to furnish to institutions and investors c o n i e s
of our special circular describing
v
, .
43 R A IL R O A D BONDS
Listed upon the New York Stock Exchange
Spencer Trask & Go*
W IL L IA M AN D PINE ST S..
N E W YO R K
_________ Branch offices: Chicago, III., and Albany. N. Y
M
o f f a t
&
W
h i t e
Members New York Stock Exchange.
6 NASSAU ST R EET .
HANOVER I3ANK B U II DING
D E A LE R S IN IN V ESTM E N T SE C U R IT IE S .
Commission Orders Executed for Cash ftnly.
D e c . 12 1908.1
T H E CHRONICLE
ffiati kers7 (Sa * d i e.
Wall Street, Friday Night, Dec. 11 1908.
The Money Market and Financial Situation.— Several
outside matters have attracted attention in W all Street
this week, but few of them affected the security markets
in any perceptible degree.
Much less interest was generally manifested in the Presi
dent’s Message to Congress than the same documents elicited
last year, while the Panama Canal Bond offering, the steps
taken in the matter of an advance in trans-continental freight
rates and the Government crop report were regarded as of
considerable importance.
Bids for the $30,000,000 Panama Canal bonds offered
amounted to nearly 3 % times that sum, or about $102,809,
000, and the bond market at the Stock Exchange has again
been unusually active. Among other reports of interest
is that of the Western Union Telegraph Co. showing increased
earnings for the quarter of about $1,200,000, also that of
the Union Pacific Railroad for the year showing a net in
come from all sources equivalent to nearly 1 6 % per cent
on the common stock.
On the other hand the iron and steel industry is developing
more slowly than had been hoped for, and the gold export
movement has been continued by the engagement of $3,
900,000 for shipment on Saturday.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1 % % to 2 % % .
To-day’s rates on call were 2 @ 2 % % .
Commercial paper quoted at 3 % @ 4 % for 60 to 90 day
endorsements and 4 @ 4 % % for best single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £670,722 and the percentage
of reserve to liabilities was 48.69, against 48.50 last week.
The rate of discount remains unchanged at 2 % % as fixed
May 28. The Bank of France shows an increase of 26,
150,000 francs gold and 50,000 francs silver.
NEW
YORK
C IT Y
C L E A R IN G -H O U S E
1908.
A verages for
week ending
D ec. 5 .
L oa n s a n d d is c o u n t s .. .
C i r c u l a t i o n . . ......................
N e t d e p o s i t s . ......................
U . S . d e p . (ln c l. a b o v e )
S p e c ie ...................................
L e g a l t e n d e r s -----------------R e s e r v e h e l d ................
$
1 2 6 ,3 5 0 ,0 0 0
1 6 3 ,7 2 0 ,1 0 0
1 ,3 4 7 ,1 4 5 ,3 0 0
4 5 ,9 5 9 ,7 0 0
1 ,4 2 4 ,1 3 2 ,5 0 0
8 ,7 9 9 ,7 0 0
2 9 6 ,7 0 6 ,8 0 0
7 9 ,4 9 8 ,1 0 0
D ifferences
from
previous week.
$
In c.
In c.
D ec.
D ec.
D ec.
D ec.
6 ,6 0 8 ,2 0 0
4 1 7 ,6 0 0
1 ,2 4 2 ,5 0 0
2 2 ,0 0 0
7 ,7 2 0 ,4 0 0
5 4 9 ,1 0 0
3 7 6 ,2 0 4 ,5 0 0 D e c .
3 5 6 ,0 3 3 ,1 2 5 D e c .
8 ,2 6 9 ,5 0 0
3 1 0 ,6 2 5
BAN KS.
1907.
A verages for
week ending
D ec. 7 .
1906.
A verages for
week ending
D ec. 8 .
$
$
1 2 9 ,4 0 0 ,0 0 0
1 1 9 ,1 5 0 ,0 0 0
1 6 4 ,0 9 8 ,3 0 0
1 5 8 .6 0 9 ,7 0 0
1 ,1 8 0 ,3 9 5 ,6 0 0 1 ,0 4 4 ,6 0 8 ,8 0 0
6 5 ,6 5 8 ,1 0 0
5 3 ,7 4 0 ,9 0 0
1 ,0 7 4 ,8 5 1 ,4 0 0
0 8 2 ,1 7 7 ,5 0 0
1 4 ,2 7 8 ,5 0 0
7 5 ,1 9 0 ,2 0 0
1 7 3 ,8 8 8 ,7 0 0
1 7 1 ,9 5 4 ,9 0 0
4 8 ,6 1 3 ,8 0 0
6 6 ,8 8 7 ,3 0 0
2 2 2 ,5 0 2 ,5 0 0
2 6 8 ,7 1 2 ,8 5 0
2 3 8 ,8 4 2 ,2 0 0
2 4 5 ,5 4 4 ,3 7 5
S u r p lu s r e s e r v e ---------
2 0 ,1 7 1 ,7 7 5 D e c .
7 ,9 5 8 ,8 7 5 D f.4 6 ,2 1 0 ,3 5 0 D e f .6 ,7 0 2 ,1 7 5
S u r p lu s , e x c l . U . S . d e p .
2 2 ,3 7 1 ,7 0 0 D e c .
7 ,9 6 4 ,3 7 5 D f.2 7 ,4 1 2 ,8 0 0 D e f . 3 , 1 3 2 .6 5 0
N o te .— T h e C le a r in g H o u s e n o w I ssu es a s t a t e m e n t w e e k l y s h o w i n g t h e t o t a l
o f t h e a c t u a l fig u r e s o n S a t u r d a y m o r n i n g .
T h e s e fig u r e s , t o g e t h e r w it h t h e r e t u r n s
o f s e p a r a t e b a n k s , a ls o t h e s u m m a r y I ssu e d b y t h e S t a t e B a n k i n g D e p a r t m e n t
s h o w i n g t h e c o n d i t i o n o f S t a t e b a n k s a n d t r u s t c o m p a n i e s n o t r e p o r t in g t o t h e
C le a r in g H o u s e , a p p e a r o n t h e p r e c e d in g p a g e .
1.517
State and Railroad Bonds.— Sales of State bonds at the
Board $10,000 Virginia 6s, deferred trust receipts at 45.
The market for railway and industrial bonds has again been
unusually active , with low-priced issues still prominent.
The transactions on Thursday amounted to over $8,000,000,
par value, and throughout the week they have been large.
United States Bonds.— Sales of Government bonds at the
Board are limited to $4,000 3s, coup. 1908-18 at 1 0 0 %
to 1 0 0 % . The following are the daily closing quotations:
for yearly range see third page following._______________________
2 s,
2 s,
3s,
3 s,
3 s,
4 s,
4s,
2 s,
1 9 3 0 ..................... r e g is te r e d
1 9 3 0 ........... ................. c o u p o n
1 9 0 8 - 1 8 ................ r e g is t e r e d
1 9 0 8 -1 8 ................... c o u p o n
1 9 0 8 - 1 8 _____s m a ll c o u p o n
1 9 2 5 ......................re g is te r e d
1 9 2 5 ________________ c o u p o n
1 9 3 6 .P a n a m a C an al c o u p
Inlerest
P eriod s
D ec.
5
D ec.
7
D ec.
8
D ec.
9
Q — Jan
Q — Jan
Q — F eb
Q — F eb
Q — F eb
Q — F eb
Q — F eb
Q — N ov
* 1 0 2 )4
*104
*100 X
* 1 0 0 )4
*100
* 1 2 0 )4
*121
*102
*103
*104
* 1 0 0 )4
100 H
*100
* 1 2 0 )4
*121
*102
* 1 0 3 )4
*104
* 1 0 0 )4
* 1 0 0 )4
*100
* 1 2 0 )4
*121
*102
* 1 0 3 )4 ,
*104
* 1 0 0 )4
i 1 0 0 )4
*100
* 1 2 0 )4
*121
j* 1 0 2
D ec.
10
D ec.
11
* 1 0 3 )4 * 1 0 3 )4
*104
*104
* 1 0 0 )4 * 1 0 0 )4
* 1 0 0 )4 * 1 0 0 )4
*100
*100
* 1 2 0 )4 ! * 1 2 0 ) 4
*121
!* 1 2 1
*102
*102
♦ T h is Is t h e p r ic e b i d a t t h e m o r n i n g b o a r d ; n o sale w a s m a d e .
Railroad and Miscellaneous Stocks.— -The stock market
has been more irregular than usual, both in the movement
of prices and the volume of business transacted. On
Tuesday the total number of shares traded in was less than
664,000, on the day following they amounted to 1,060,767.
Low-priced issues have continued to be conspicuous for
activity and strength, including Chicago & Alton, Chesa
peake & Ohio, Colorado & Southern, Denver & Rio Grande,
Wabash, Mexican Central and Wisconsin *Central. These,
with Union Pacific, Southern Pacific, Reading and North
W est, advanced from 2 to 4 points or more. A t the same
time such standard shares as Atchison, St. Paul, Great
Northern, Northern Pacific, Illinois Central and Missouri
Pacific are an average of a point or more lower than at the
close last week.
Of the industrial list Consolidated Gas has continued a
strong feature, having made a further advance of nearly
4 points. This stock is now selling above 166, against
74 in October last year. General Electric was strong, until
to-day and Westinghou.se has gained another point. Pacific
Mail has been active and advanced 8 points early in the week
on discussion of ship subsidy legislation in Congress.
For daily volume of business see page 1525.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
W e e k ending D e c . 1 1 .
Sales
W eek .
R an ge lor W e e k .
Low est.
A l ic e M i n i n g _____________
5 0 0 $ 2 54 D e c
100
5
D ec
C h ic a g o T e r m in a l T r a n s .
P r e f e r r e d _______________
1 00 2 0
D ec
200 2 9c. D e c
C o m s t o c k T u n n e l ..............
D e s M o in e s & F t D o d g e . 1 ,5 3 5 1 3 ) 4 D e c
G e n e r a l C h e m ic a l, p r e f . .
200 99
D ec
H o c k V a il p f , J P M c e r ts
100 8 9 ) 4 D e c
1 00 9 6 ) 4 D e c
I l o m c s t a k e M i n i n g _____
K a n & M ic h t r u s t r c c t s . _
9 1 0 1 51
D ec
K e o k u k & D e s M o in e s ,p f
2 6 23
D ec
M ic h ig a n C e n t r a l_________
2 5 :1 5 5
D ec
N a t M e x ico p rof tr r e c ts .
3 00 5 1 )4 D e c
S e c o n d p r e f t r u s t r e c ts
2 0 0 1 9 )4 D e c
N e w C e n tr a l C o a l . ...........
3 00 50
D ec
N e w Y o r k A H a r l e m ___
101345
D ec
N Y & N J T c l e p h rig h ts 3 ,3 1 9 i 2 ) 4 D e c
O n t a r io S ilv e r M i n i n g . . .
375
3H ; D ec
P e o r ia & E a s t e r n _______
4 ,9 0 0 \ 2 3 )4 ; D e c
Q u ic k s ilv e r M i n in g ______ 1 ,4 0 0
)i ; D e c
P r e f e r r e d ...........................
300
3 )4 i D e c
R I l S e c u r it ie s — 111 C e n t
s t o c k t r u s t c e r t ific a t e s
10 9 1
D ec
169 3 3
D ec
R u t l a n d , p r e fe r r e d ...........
S t a n d a r d M in in g _________
5 0 0 $ 1 .9 0 D e c
D ec
U S L e a t h e r , p r o f .............. 1 ,2 0 0 115
V u lc a n D e t l n n t n g . ...........
1 00 l m : D e c
P r e f e r r e d ...........................
9 0 h 4 8 )4 1 D e c
■ 1
H igh est.
9 $ 2 )4 D e c
9
D ec
5
D ec
7 20
7 29c. D e c
7 1 6 )4 D e c
D ec
7 99
8 8 9 )4 D e c
11 9 6 ) 4 D e c
D ec
7 55
D ec
9 23
D ec
11 155
7 5 2 )4 D e c
9 1 9 )4 D e c
D ec
7 50
5 345
D ec
7
2 )4 D e c
9
3 )4 D e c
7 2 9 )4 D e c
9
1 )4 D e c
8
3 )4 D e c
Range sin ce J a n . 1 .
Low est.
7 $ 1 )4
9
1 )4
7
8 )4
7 20c.
11
5
8i 8 9
8 70
111 6 7
11! 2 9
9 20
111 !155
8 46
9 1 1 7 )4
7 | 30
5 3 35
5!
2 )4
2
10;
111 13
11;
)4
8|
1 )4
H ig h est.
F e b $ 3 )4
Jan
F eb
8
M ay
M ch 2 0
D ec
M c h 4 4 c . A p r il
M ch 17
N ov
M a y 9 9 )4 J u n e
Jan 8 9 )4
D ec
J an 9 6 )4 N o v
Jan 55
D ec
J u ly
A p r 26
N ov
D e c 165
A u g 5 4 )4 N o v
S e p t 1 9 )4
D ec
O ct
F eb 50
N ov 345
D ec
D ec
D ec
3
M ay
Jan
6
A p r 2 9 )4
D ec
D ec
Apr
1 )4
Jan
D ec
3 )4
life!
S ept
M ch 94
J a n 33
D ec
Aug
F e b $ 2 .1 0
J a n 120
D ec
M ch 1 0 ) 4 N o v
Apr
5 0 )4 N o y
Foreign Exchange.— The market was only moderately
active though firm until Wednesday; then there was a
sharp rise, reflecting an urgent demand for remittance,
and the tone was strong at the close. Gold engagements
$3,900,000 for shipment to Paris, making $5,400,000 since
7 91
D ec
7 79
last Thursday.
8 33
D ec
8 24
To-day’s (Friday’s) nominal rates for sterling exchange
5 $ 1 )4
5 $ 1 .9 0 D e c
8 120
D ec
9 95
were 4 86 for sixty day and 4 88 for sight. To-day’s
10
3
8 ) 4 D e e 10
(Friday’s) actual rates for sterling exchange were 4 8480@
10 5 0 )4 D e c
5 25
4 8490 for long, 4 8690 © 4 8695 for short and 4 8 7 2 5 ©
4 8730 for cables. Commercial on banks 4 8 4 5 0 @ 4 8460
Outside Market.— Interest in “ curb” securities was con
and documents for payment 4 8 3 % @ 4 8 5 % . Cotton fined largely to a few of the specialities and several of the
for payment 4 8 3 % @ 4 84. Cotton for acceptance 4 8450
low-priced mining stocks, the remainder of the list being
@ 4 8460 and grain for payment 4 8 5 @ 4 8 5 % .
dull. The undertone of the market, however, was steady,
To-day’s (Friday’s) actual rates for Paris bankers’ francs with prices improved somewhat. American Tobacco was
were 5 1 7 % a @ 5 1 7 % for long and 5 1 5 % « @ 5 15%</ for
prominent by reason of an advance of 20 points to 360,
short. Germany bankers’ marks were 9 4 % @ 9 4 13-16 for though to-day’s business carried the price back to 340.
long and 95 3-16</@95 3-16 for short. Amsterdam bankers’ The strength of Standard Oil was also a feature, the price
guilders were 40 3 0 @ 4 0 36 for short.
advancing from 669 to 685, the highest point for the year.
Exchange at Paris on London to-day 25f. 12 % c .; week’s Atlantic Gulf & W est Indies preferred sold at 22, against 21
range 25f. 12 % c . high and 25f. 11c. low.
last week. A renewal of interest in Chicago Subway was
The week’s range for exchange rates follow:
evident, the stock advancing from 23 to 2 8 % , with a drop
--------------- -L o n g ---------------- ----------------- Short---------------------------- Cables---------to-day to 27. Bonds were quiet. Consolidated SS. 4s,
Sterling A ctu a l—
H i g h ............. 4 8 4 8 0
@
4 8490
14 8690
@ 4 8695
4 8725
© 4 8730
receipts, sold down from 16 % to 16 and up to 1 7 % , and
L o w ..............4 8 4 3 0
@
4 8435
[4 8645
@ 4 8650
4 8670
@ 4 8675
finally at 1 6 % . Atlantic Gulf & W est Indies 5s, “ w . i . ” ,
P a ris B a n k ers’ F ra n cs—
H i g h ............. 5 1 7 ) 4 a
@
5 1744
15 1544a @ 5 1544rf
lost a point to 61, recovered to 633 ^ and sold subsequently
L o w ..............5 1844
@
5 1844
|5 1644
© 5 1554
at 6 2 % . There was no special activity in copper shares.
G erm a n y B a n k ers’ M a r k s—
H i g h ............. 9 4 4 4
@ 9 4 1 3 -1 0
Boston Consolidated declined from 1 6 % to 1 5 % and then
195 3-16(1 © 95 3-16
195
@
951-16
L o w _______ 9 4 4 4
©
044 4
improved to 1 6 % . British Columbia advanced from 7 %
A m sterd a m B a n k ers’ Gu ilders—
to 8 % and reacted to 8 % .
Nevada Consolidated sank
H i g h .............................................................
140 3 4
@ 40 36
L o w - ...........................................................
14 0 3 0
© 40 32
from 1 9 % to 1 9 % , ran up to 2 0 % and closed to-day at
2 0 % . Cobalt Central was heavily traded in and scored a
L e s s : a 1 -1 0 o f 1 % d .
1 -3 2 o f 1 % .
h 3 -3 2 o f 1 % .
P lu s : k 1 -1 6 o f 1 % .
x 1 -3 2 o f 1 % .
y 3 -3 2 o tl% .
sharp advance from 6 0 % to 75, the close to-day being at 69.
The following were the rates for domestic exchange on Goldfield Consolidated from 8 3-16 moved up to 9 % , but
New York at the undermeationed cities to-day: Savananh dropped finally to 8 13-16. A sensational feature of the
buying 50c. per $1,000 discount; selling 75c. per $1,000 mining department was the collapse of Rawhide Coalition,
premium. Charleston selling $1 per $1,000 premium. a stock widely advertised for some time past, and which
New Orleans 75c. per $1,000 discount; commercial $1 per within recent weeks had been boosted from about 40 cents
$1,000 discount. Chicago 10c. per $1,000 discount. St. to $1 46, but on Thursday dropped to 70 cents and to-day
Louis 10c. per $1,000 discount at par. San Francisco 50c. to 64 cents, closing at 72 cents.
per $1,000 premium.
Outside quotations will be found on page 1525.
N ew
Y ork
S to ck
E x c h a n g e — S to ck
R ecord,
O C C U P Y IN G
T W O
S T O C K S — H IG H E S T A N D L O W E S T S A L E T R IC E S
i Saturday
D ec. 5.
983,
10134
1113.8
108*8
93
5618
62%
177%
68
2 12
543s
5 Us
71%
1134
62
3034
15%
151%
163%
1 16
161
17334
220
153
170
4%
1 3%
68%
98%
10134
1 11
1077s
*91%
5512
* _____
1 76
*67
211*8
5234
50
71%
11
*58
36%
15
14978
163
*144
*159
17334
*210
*150
*165
*4
*12%
GS
♦ 90
5 3 % 5434
*70%
71
6 4 % 653,8
1771176
♦ ___
564
37
35%
SO
8 0%
*54%
55%
17
17%
32
32
. 33%
343S
4 8%
49%
3 9%
40
14434
1 43
74
73
16%
*33%
♦82
16%
34%
88
90
90
1 47
118%
14%
15%
36
36
32%
31
49
49
73% 73%
3 6% 40%
68
69
*25
30
*50
58
58
*53
1 2 2 % 122*8
149*8 149*8
32
*26
1 7%
4 9?8
*8 1
132
147%
38%
71
6534
♦ 120
1 17
*48
*100
*78
*157%
45%
8373
1 7%
50
85
1 32 %
1 47 %
39
71*8
6 71 125
117*8
50
1 06
82
1 58
463,
84%
14134
142%
81
*90
*80
129%
87
*103
13S%
92
88->3
23*8
603s
*63
4 0%
2234
5 33 i
117%
*1 21 7 3
25
587s
3 4%
34
*8
40%
64
*91
17934
95
33
*47%
17
42
14%
143%
142%
81%
100
90
1 30 %
88
1 09
1 41 %
92
99
24%
62%
64
41
2 3%
5 4%
1 18%
1 22
26
601.1
3534
34%
9
40%
64*8
95
181%
95%
33
4 8%
1734
4 5%
147,8
M onday
D ec. 7 .
T u esda y
D ec. 8.
977g
lO U s
1107s
108
92
551.1
♦ -176
*66
212%
523.,
50%
73
11
*55
*34
147s
149*8
1 62
*144
159
1 73 %
*210
*150
*165
4%
13
68%
*100
54%
5vSl.|
70*8 7 H 6 4% 68
* 1 7 5 % 177
560
35
36%
8 0%
80
55
55
17
§1 7
32
32
3 3*s 3 4 %
4334 4933
3934 3934
11334
143
74
73
9734
i0 1 3 4
•.-■no
10734
*91%
5534
* _____
176%
*63
> 212
53
5073
*70
1 1%
*58
36
1 4-8
149 3161
1 4 5 -s
15934
173%
*210
*150
*165
*4%
13
69
*98
57
71%
69
176
*554
3573
7934
*54
163.1
31%
34%
•191.1
-0
143%
73
16*4 17
*331., 3 4 %
88
*82
97
97
*8734
1 4 6 3 , 1473.1
143.; 15%
3 5 % 3G*s
32
31
48
*47
74
74
38
37
6S34
68%
25
*22
58
58
58
*53
121-3, 122%
150
*147
32
*26
16%
34
*83
98%
90%
14738
15
36
31%
47%
*73%
37
6734
23%
58
*51
122
149
*26
18
50
85
1 32
1 50
38%
71
66*8
1 25
1173$
50
10/
80
158
46*8
84
no
142*8
14U 82
100
90
130%
88%
1 09
141
8 81 93
24%
61
65
40%
23%
54
118%
12U 251.1
5 9%
35
3534
91397,
64%
91
181%
95
32
47*8
18-%
4 5%
15
17%
491*80
131%
1 47 3 ,
373,
71%
65%
+ 1 20
117%
49%
*103
81
157%
46
84
*84
142%
1413s
82%
*90
*79
129%
§88%
*103
140
*87192%
24
60%
*62
40
223,
53%
1 18 %
1217S
25
59
34%
35
9%
* ___
63-34
*94
181%
*94
32%
♦ 471;
181s
44%
14*8
98%
10173
111
1 i)833
92
56^4
62%
177
68
212%
533s
51
73
1 1-8
62
37
15%
1503S
162
1 46
159
173*4
220
153
1 70
4%
1 3%
68%
17%
*48
*81
*131
*147%
3 7*s
71
65
*120
11634
*48
*100
80
§158
46
83%
*84
1 42
141
*80
*90
*80
1 29 %
88
*105
139%
88%
90
2378
593.,
*62
40
22%
531.,
1173s
121%
25
583.,
34%
33-3,
9%
3934
64
§94
180%
95
32
47*8
17
42%
1 4%
983,8
1017s
111
10834
93
5 6%
62%
1773s
68
2 12
5334
513,s
80
1134
60
36
15%
151%
161
14578
1593.1
173 %
2 18
163
170
4-8
13%
69
1 00
58
73
70
177
5 64
373.|
8234
55
1634
313.1
35%
60
40%
144
74
W ednesday
D ec. 9 .
981,1
1013,
111
1 08 %
*92
56
♦ _____
17678
*66
2 13
5334
5 1-8
73%
11%
60
*36
1434
15034
*161%
140
j 15933
17334
*210
*150
*165
4%
*12%
6S7S
*08
58
7233
69%
177
555
37%
823s
*53
*16%
*30%
347«
493,
*3 9 -4
114
73%
9 9%
102%
111
10934
93
57%
621177 %
6 7%
2 18156%
5 6%
7 3%
11%
60
37
15
15134
163
146 %
159-%
1737s
2 20
1 53
1 70
4%
1334
6 9%
100
59
7434
70%
177%
562 3,
38%
83
55
17%
32%
36-ls
50%
401 14434
7 3%
17
16% * 1 6
3434 3434
34
88
88
*83
9934 9934
9 8194
9 0 % *9 1
14734 1 47 “g 148 %
15%
15
1 5 'i
36
3 6 -s
36-%
3134 3 2 %
3 Us
4934 51%
4 9%
75
75
*73%
3 8%
37
3733
68%
68
6 8 I.1
24%
24%
23%
58
58
57
57
67
*5 1
1 2 2 's 1 24
1 23
151%
149% 151
35
*26
31
17%
1 7%
50
49%
85
85
1313.1 1 3 1 %
149
148%
38%
387g
7 1%
72
6 6%
66-%
125
*120
1173,
117 %
523.,
521108
*103
81
81%
1571- * 1 5 6
46
46%
811.,
84
*84
89
142%
1427s
1 I17g
1417.
82%
821 *>
*90
100
797S
85
1293,
1 30
*87
8 8%
*105
1 09
1 4 13s
141%
89
90
94%
96
2 4%
24%
6034
61%
64
64
40140%
23%
23%
55
55
119-3,8 119 %
1221- 1 22 %
26
2 5%
60%
5 9%
34%
3 4%
36
34%
*83.,
9%
393|
393,
633,1
633,
94%
94%
1823.1
183
95
94%
3 2%
32
49
49
19%
19%
44%
45
1434
15
N ew York
A e t n a _______
A m e r lc a H -.
A m cr E xch .
B a tto iy P k .
B o w e r y 11 . .
B ron xB orol
B ryan t P k T
B u tch A Dr
C e n t u r y 1 1 -C h a s e _______
C h a th a m
B id
A sk
Banks
C h elscaE x Tl
Chem ical
170
177*j C itizens’ Ctl
660
540
C it y ...............
245
248
Coal A Iron
118
125
C olonial 11-335
320
C olu m bia 11. . . . Comm ere - .
300
160
C on sol’ t’ d . .
150
152% 1571? C o p p e r ____
Corn E x H - 16 > 175
____ E a s t R i v e r .
T326
F idelity 9 . 315
805
9 8%
1 02 %
*110 V
1 08 -8
93
57%
* _____
1 7 7 -s
*66
218
553.,
55
7373
11%
*60
36
14%
150-%
*162
*145%
1 59 %
174 %
*210
153
*165
4%
13
69%
*100
ar56
74
68%
177%
*550
363.1
82%
*53
17%
3 1%
3 4%
50
40%
143%
73
98%
102 %
1 09193
5 8 -s
62%
17S %
67%
2 21
58
56%
79
1 1%
65
36
14-s
151 %
1631147
159 %
176%
2 18
1 53
1 79
4%
147s
095g
57
74%
70
179
555
39
8 3%
55
17%
3 1%
3 5 ls
5 03 ,
4!
144 %
73%
STOCKS
Eridau
D ec. 11.
9 7%
102%
110
109
*91%
57%
* ___
177%
*66
2 19
5 7%
53-%
*75
1133
*60
*35
143S
1 49 %
163
146
1 60
175-%
*210
*153
+1G5
4%
14%
68
*100
54
72%
6 7%
178%
564
3 7%
82%
*5 3
16%
3H 38%
49%
4 0%
1 42 %
73
1678 17
*33
34% * 3 3 %
*83
S5
*83
9U34 993.1 102%
* 9 1 % 93
92
1 47 % 148%
147
l o ‘4 1 0 %
16
3 6-8 3 8 %
39
32*4
31%
31%
50
50%
49
* 7 3 % 75
*7 4
3734 38-8
37%
67^4 68
6734
*24
26
26
*57
59
*56
56
*51
*51
1227s 1 2 3 % 122%
140«)3 150-% * 1 4 7 %
31
32
30
197S 2 1 %
19
21
52
52%
63%
51%
90
*89
91
*89
1313S 1323S 1313,
131%
1 49
1 49
1 50
149-%
3S34
3 8 % 3 9%
3 8%
7l3.i
717s 72%
72
6678
6 5 % 6634
65
*120
1 25
125
*120
1 183s 117 % 1183,8 117%
54
52
■52
53
*103
108
103
*103
83
83
83
83
158
1 58
158%
15S34
4738
4 7% 4 7%
46%
8534
8434 8 5%
8 4%
*84
90
90
14338 142 % 1431- 1413.,
14234 1 42
142%
141%
86
8 5%
86
85
*90
1 00
100
*90
*
8
5
.35
100
85
1 3 0 34 1303s 130%
129%
*87% 88
88
87%
§105
1 09
105
*102
141% 1 42 -s 14111 4 2 -s
*88
90
89
90
9 3 % 9 5%
96%
9 4%
24
2 4%
243,
237S
5 9 % 6 1%
6134
593S
*
6
2
0
5
65
65
40
40%
40
41
23%
24
23
24
5573
5 2%
54
553.1
120 % 1 21 % 120 %
120 %
1 22 % 1243,8 123%
1 23
253,8 2573
25ks
26%
60
59%
59%
6 0133%
333i 34%
3 5%
3 4 -s
351,1 36
3.53s
*83.i
10
10
*814 1%
42%
41
42%
6634
663,,
65*2
65
94%
9478
94
94%
182 %
1837s 1 83 % 1 84 %
95
95
9484
95
39% *3 7%
38
37%
57
54
5 9%
53
193.,
183s
19
197S
45%
47
45%
47
15%
15
15
1 5%
B AN KS
Banks
Th ursday
D ec. 10.
B id
200
410
tl5 0
3421*
225
700
400
r 19 5
125
227 %
335
125
16-
D a ily ,
AND
T R U ST
A sk
Banks
the
Wees.
Shares.
W e e k ly
and
N E W
Y O R K
STOCK
EXCH AN G E
Ramie 101 r remove
Year (1 9 0 7 )
Uanqt Since J a n . 1 1 9 0 8 .
On basts ol 100-share to.
Ijncesi
R a ilroads
3 3 ,1 5 0
tch T o p e k a & S an taF e
66
F e b 14
102%
5 ,0 0 0
D o p r e t ___________
833$ F e b 11
LOOt A tla n tic Coast Line R R _ _
no%
5 9 12 M e l) 2
no%
78.27C I B altim ore A O h io _____
76i£ F e b 10
94
300
D o p r e t ___________
80 J a n
59
1 0 3 ,0 9 0 B ro o k lyn R a p id T r a n sit.
3 7% F e b 1
6 2%
B u ffalo & S u sq u e, pret
$59 % O c t 2 3
179
3 0 ,3 0 0 { \ anadlan P a clllc_____
140 F e b l ,
6 7%
' ' an a d a S o u th e rn _____
54
M ch 4
222
3 ,9 8 2 Central o f N ew J e rs e y ___
160
F e b 1]
58-'s 1 2 7 ,8 7 6 Chesapeake A O h io ___
251- F e b in
6438 1 6 ,9 5 0 C h icago A A lto n R R . _
lu
F e b 13
77
1 ,2 0 0
Do
pret _____________
47
M c h 24
12
5 ,9 0 0
h lcago G reat W e s t e r n ..
S is F e b
62
1 50
D o 4 % d e b e n tu re s .
3 3 i2 M c h I t
2 00
37
D o 5 % pret “ A ” ___
1 5 l2 F e b 15
14%
4 ,0 0 0
D o 4 % pret " B ” ___
5
F e b 11
1 51 -s 7 8 ,2 3 8 C h icago M llw & St P a u l.
10312 -In n 2
1 63
1 ,1 5 0
D o pret ___________
138 J a n
1 47 %
3 ,6 0 2
D o co m lnstallm ’ t ctfs
9 8% J a n 3
161
1 ,0 9 9
D o pret Installm ’ t ctfs 125*8 J a n
17617 ,1 8 5 C h icago & N o rth W estern
135% J a n
2
220
D o pret _______________ i 185 J a n 11
1 55
300 Chic St P M inn & O m aha
114
F e b 25
170
D o pret _______________ 14012 J a n 3
5
3 ,0 0 0 Chic b n T r a c ctfs s tm p d
% Apr 3
1434
5 ,9 0 0
D o pret ctfs s t m p d ___
4
A p r 111
4 ,7 1 0 Cleve Cln Chic & St L ___
691.1
4712 J ’ n e l T
D o pret
_________
8 5 is F e b 19
561/j 5 0 ,7 4 0 C o lo ra d o & S o u th e rn ____
21
F e b 19
74
1 2 ,6 0 0
D o 1st p re fe rre d __
50*8 J a n
v
G83, 1 6 .9 2 5
D o 2d p re fe rr e d ____
3934 F e b U
181
1 0 ,5 0 0
1 41D F e b H
5 6715 00
420 J a n
<
c la w a re L a c k A W e s t
391., 4 4 ,1 1 0 D e n v e r A R i o G r a n d e . .
14U F e b I t
9 ,0 7 9
83%
D o p r e f _________________
3 9 I4 M c h 2
55
100 D e t r o i t U n i t e d ____________
3 2 io A p r 13
17%
1 ,4 1 0 D u l u t h S o S h o r e A A t l a n
0 " F e b 11
31%
6 50
113, F e b 13
D o p r e f ____________________
3473 1 11 .3 0 0 L ’T i e ...............................................
12
M c ll 0
5 03 ,
1 5 ,1 1 0 L *
D o 1 s t p r e f __________
24% M c h 4
40%
2 ,1 9 0
10
M ch 6
D o 2 d p r e f ____________
144% 8 4 ,8 1 0 G r e a t N o r t h e r n p r e f _______
11334 F e b l l
7818 ,8 0 0
I r o n O r e p r o p e r t i e s ____
48% J a n
2
G r e e n B a y A \V , d e b c t f A
71
M c h 19
48
Do
deb ctf B
8 J a n 14
7 00
a v a n a E l e c t r i c __________
20
M ch24
3 4%
85
Do p r e f ________________
570 J a n
s
103
7 4 0 H o c k i n g V a l l e y t r r e t s ____
62
F e b 10
92
300
D o pref
69
M c h ly
14817 .3 0 0 | b l n o l s C e n t r a l .
122U F e b 17
17% 7 5 .8 2 5 * n t ee rr b o r o - M e t r o p o l l t a n .
6*4 J a n
4
4 H - 3 4 ,4 5 0
D o p r e f __________________
17% F e b 19
1 7 .8 1 0 I o w a C e n t r a l ________________
31%
10 F e b 19
50%
7 .4 7 0
D o p r e f ___________________
2 7 % F e b 19
75
3 00
C F t S A M tr e ls ,p r e f
57
A u g 19
383, 4 5 ,0 4 5
a n sa s C ity S o u t h e r n ..
18
F e b 26
6 8%
5 ,2 3 6
4G F e b 19
D o p r e f ________________
20
5 00 I a k e E r i e A W e s t e r n . .
12 J a n
4
59
1 .0 0 0
24
M ay 2
D o p r e f _______________
60
30
F eb 6
L o n g I s l a n d __________________
12317 ,4 0 0 L o u i s v i l l e & N a s h v i l l e ____
8 7 U F e b 19
149
120 J a n
4
7 ,2 8 0
32
15 F e b 24
1 ,0 1 0
e t r o p o i l t a n S t r e e t -------14% J a n
2
M e x i c a n C e n t r a l ____________
2 2% 6 9 ,0 1 0
1 4% M a y 1
D o T r u s t C o c e r t f s -------20
M ch 2
51%
3 ,1 0 9 M i n n e a p o l i s A S t L o u i s . .
61
F e b 2t
91
9 10
D o p r e f ____________________
132 %
7 9% J a n
2
3 ,2 5 0 M i n n S t P & S S M a r i e . . .
1 2 3 H F e b 11
14913 ,5 9 5
D o p r e f ____________________
17% M c h 2
3 9% 8 7 ,0 0 0 M o K a n s a s A T e x a s ----------46
F e b 19
72
4 ,6 0 0
D o p r e f ____________________
2 8 % F e b 19
66
2 9 ,4 8 5 M i s s o u r i P a c i f i c
97*4 J a n
2
1 25
ash C h a tt A S t L o u ts .
9 0 is J a n
2
118% 3 5 ,9 1 0
Y C en tra l & H u d s o n .
24% J a n
3
5373
3 ,1 0 0 N Y C h i c A S t L o u i s -------90 J a n 14
1 08
D o 1 s t p r e t ----------------------00
F eb 8
8334
1 ,0 0 0
D o 2 d p r e f ----------------------1583, i
1283s J a n
6
6 4 5 N Y N H & H a t t l o r d -------471.1 5 2 ,9 0 0 N Y O n t a r i o A W e s t e r n .
29% F e b 19
85%
9 ,2 0 0 N o r f o l k & W e s t e r n .............
58
F e b 19
D o a d ju s tm e n t p r e f . .
74
M c h 24
1431.1 5 1 ,5 2 0 N o r t h e r n P a c i f i c .....................
lu ffs J a n
2
D o s u b s c r ip
r e t s ----------142 %
4 ,5 4 0
103
F e b 10
86
1 ,6 0 0
a c i f i c C o a s t C o ...................
65
S e p 22
1 00
D o 1 s t p r e f ---------------90 M a y 2 6
85
3 00
D o 2 d p r e f -----------------79
M eh27
1303., 8 7 ,2 6 5 P e n n s y l v a n i a ----------------------10834 J a n
2
87%
3 .0 9 2 P l t t s b C l n C h i c A S t L . .
59 J a n
7
108
50
D o p r e f ------------------------------81% M c h 3
143% 8 0 4 ,3 0 0 |> e n d i n g --------------------------------9 2% F e b 17
90
1 .2 0 0 1 V
1 s t p r e f ________________
78 J a n
2
9 51- 1 2 .9 6 5
2 d p r e f -------------------------76 J a n
t
24%
1 7 ,3 2 5 R o c k I s l a n d C o m p a n y ____
10% F e b 3
60
3 5 ,7 4 0
203, F e b 3
D o p r e f ---------------------------65
525 S t L & S a n F r , 1 s t p r e f . .
42
J ’ne24
40%
4 ,3 0 0
D o 2 d p r e f ----------------------19% F e b 19
233,
9 ,8 0 0 S t L o u i s S o u t h w e s t e r n . .
10 M c h 7
5 5%
1 7,50(.
D o p r e f ___________________
2 4 % F e b 19
12173 2 8 1 ,8 2 5 S o u t h e r n P a c l l l c C o _______
6 6 % F e b 17
124%
6 ,7 5 0
1063,8 J a n
2
D o p r e t __________________
2 5% 2 4 .5 7 5 S o u t h e r n v t r c f s s t m p d .
9 % J a n 10
5978 1 3 .1 2 2
251- M c ll 5
Do
pret
do
343.( 3 2 ,2 0 0 ' P e x a s A P a c i f i c ___________
1237 F e b 29
36
151- M c h 23
2 7 ,6 9 0 • b i r d A v e n u e ( N Y ) ____
93,
6% O c t 9
2 00 T o l e d o R a i l w a y s A L i g h t
4134
12
F eb 6
5 ,5 0 0 T o l e d o S t L & W e s t e r n . .
66^2 2 0 ,0 0 0
33
F eb 3
D o p r e f ____________________
95
7S% F e b
1 ,3 5 0 T w i n C i t y R a p i d T r a n s i t .
1S433 5 2 5 ,5 4 0
llO ii M c h 2
n i o n P a c l l l c --------------95
79% A p r 2
1 .1 0 0
D o p r e t _____________
3 8115 J a n 24
2 .6 4 0 U n i t R y s I n v ’ t o f S a n F r
683S
4 .4 3 0
2 7 % J a n 22
D o p r e f _____________ _
19% S 2.4G 0
634 M c h 3
abash
463, 1 6 9 ,8 5 0
13
M ch 3
D o p r e f _______
15-% 1 9 ,8 0 0 W e s t e r n M a r y l a n d .
5
M o b il
A
H
K
N
P
U
w
COM PANIES— B R O K E R S’
B id
F ifth A veil- 3800
. . . . Fifth .......... 300
____ F i r s t ............. 750
347% 14th StK - - tl50
F o u r t h ------ 205
350
G allatin —
G arfield — t-80
500
G erm A m 1] 138
G e rm ’ n Exll 475
232% G erm an ia 11 525
G reen w ich 1i 250
315
H an over - - 535
135
1/5
Im p & T r a d t5 6 0 l,
Ask
B anks
Irvin g N Ex
Jefferson 11 -
____
350
____
____ L incoln ___
210
375
___ M echanics’ 145
500
____ M erchants’ 205
M etropolis 1
550
M etro p o l’ nil
____ Mt MdrrlsV-
B id
A sk
175
175
500
465
t326
260
255
1153%
160
f 164%
375
185
1S5
48)
270
260
170
..
165
220
____
9938 \ro v 3 i
10234 D e c 11
111% D e c
310% D e c 11
93
D ec 2
59
D e c 11
t-4% A l e u t 1
180% N o v 18
68
N ovi
222
D e c 11
587s D e c 11
5 6 % D e c 10
79
D e c 10
14*8 iN o v 1?
68% A u g 4
39
N o v It
17% N o v 17
1521- D e c 2
164
N o v 30
147% D e c 11
101% D e c 1
1 78 % D e c 2
216
O c t 23
154
D ec
170
N ov 9
5
D e c 11
1473 D e c 10
6934 N o v 1.
99
N o v 13
59
D ec 9
7434 D e c 9
7 01- D e c
781 , D e c 11
575
N o \ lu
3 9 % D e c 11
8 3% D e c 10
66
N o v 17
1,V’ i N o v 18
3334 N o v 18
36
N o v 11
5034 D e c 10
41
D e c 10
145% D e c 4
751.8 N o v 13
8 4 N o v 15
17
D ec 7
35
N o v 19
84
D ec 3
103
D e c 11
92
D e c 11
14934 N o v 17
1 7% D e c 11
4 1 % D e c 11
323s D e c 9
51% D e c 9
74
D ec 7
40% D e c 5
69
D ec 5
26
D e c 11
58
D ec 7
5 51 - D e c 2
124
D ec 9
151% D e c S
44
A U g 10
201- J a n 2 s
2 t % D e c 11
, 3% D e c 10
90
D ec 9
13.)
18 O V It.
1 50
D e c 10
3934 D e c 10
721.1 D e c 10
671.8 D e c 2
122
N o v 2a
1 181- N o v 3 0
54
D ec 9
105
N ov 7
8 3 % D e c 11
161
i\O V 9
477s D e c 10
8 6 % N o v 28
67*8 N o v V
15734 N o v 8
145
N o v 18
2 3 % J a n 14
90
M a y tC
97
J a n 13
13H - N o v 4
88% D e c 7
108*4 N O V r
143% D e c 11
92
D ec 5
99
D ec 5
2 5% D e c 2
62% D e c 4
65
D ec 2
4 2% D e c 2
24
D ec 9
5 5 % D e c 10
1217g D e c 11
1 25 % M a y 13
2634 N o v 13
61
N o v 13
3573 D e o
1
47
A u g 10
151.1 M a y 2
42% D e o 9
C634 D e c 9
95% N o v l 7
18478 N o v 27
98
N o v 17
3 9 % D e c 10
5 9 % D e c 10
197g D e o 0
47
D ec 9
16
M a v ll
663s N o v
78 N o v
£8 N o v
75% N ov
75 N o v
2 6 - jN o v
74% N ov
138 N o v
52 N o v
144 N o v
c2 3 % N ov
8% N o v
48 S e p
G -g N o v
46 D e c
21 D e c
8% D ec
931- N o v
130 N o v
-8 0 N ovI ll
O ct
126 O c t
185 O c t
106 O c t
137% D c c
1 - O ct
8 D ec
48
N ov
S6 D e c
17 N o v
41 N o v
2 9 1 -N o v
1233s O c t
3 6 9 1 -O ct
16 N o v 53 N o v
3 1 * -D c c
G% O c t
10 N o v
,2% N o v
28 N o v
20 N o v
1 0 7 % O ct
37 O c t
75 O c t
534 O c t
2 4 1 -O c t
72 A p r
63 N o v
64 N o v
116 N o v
4 7gO ct
14 N o v
y% N o v
29 “ D e c
60
O ct
18 M e n
4£ M c ll
11 N o v
3934 N o v
26 D e c
85%N ov
10 0 % O c t
23 D e c
1284 lVov
23% D e e
r0 2 % D ec
60 O c t
110 O c t
2034 N o v
63 N o v
4 4% D e c
97 D e c
189 D e c
1934 O c t
85 N o v
41 O c t
1273sN ov
28 O c t
56 O c t
70 O c t
»0 < l% O c t
91% N ov
66 N o v
65 N o v
85 D e c
11 0 3 % N o v
51 O c t
69% O ct
7 0 1 -O c t
73 O c t
67 N o v
11 % N o v
261-Nov
58 'O c t
24 N o v
1
N ov
25 N o v
03% O ct
100 O c t
10 N o v
2 9% N o v
17% N ov
16 N o v
9 D ec
1634 D e c
2934 N o v
68% N ov
100 O c t
76 A u g
10% N ov
20 N o v
8 O ct
14% N ov
6 O ct
108 % J a n
101 % J a n
133*8 J a n
122
Jan
941- J a n
83*s J a n
85*4 F e b
195% Jan
061- J a n
220
Jan
66
J a il
27% J a il
69
Jan
18
Jan
79
F eb
71i F eb
26b Jan
157% J a n
1 65 % J a n
141
Jan
149
Jan
205
Jan
2 34
J a il
170
Jan
165
Jan
334 M a y
17
J 'l y
927 s J a i l
1081- J a n
387s J a i l
6 91 - J a n
68% J a n
227 1 - J a n
5 10 ' J a n
427s J a n
837g J a n
80*8 J a n
191- J a n
39
Jan
4 4% J a n
75% J a n
67
J a il
189 % J a i l
85
Jan
75
O et
141- J a n
47 " J a n
80% J a n
114
M ch
94
Jan
172
Jan
39
Jan
75% J a n
287s J a n
61
Jan
80
Jan
2()£ 1 J a n
6134 J a n
2 8 i- J a n
0 71- A p r
0 71 - J a n
145 % J a i l
1 46
F eb
107
Jan
275- J a n
59
90
140%
168
44*8
7234
9 2%
147
13434
6 3 i1 10
9H4
189
483*
92%
90%
1 89 %
134
124%
76
125
14138
78
1 05 %
1 39 %
92
94
301s
G4170 “
4838
25%
62%
90%
118%
34
94%
37%
123
29
3334
5178
1 08 %
183
96
62
71%
18%
38%
3Q i-
Jan
Jan
Jan
J a il
M ch
Jan
Jan
Jan
Jan
J a il
Jan
Jan
Jan
Jan
Jan
Jan
Jan
F eb
Jan
N ov
M ch
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
F eb
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Apr
Jan
Jan
M ay
Jan
Jan :
Jan
Jan
Jan
Q UOTATIONS.
B id
Banks
Mutual I t . . . 290
Nassau If___ 200
New N eth ’ d
New YorkC o 760
New Y o rk . 320
•N’ ht AD aylj
19th W a rd ll
N orthern . .
Oriental 1I_.
P acific 11___ 230
P a r k ............ 440
P eop le’s 1|- , 300
P h c h lx ____ 157
A sk
B id
B anks
610
TltiO
35-)
350
135
250
205
260
500
135
260
450
310
165
I B i d a n d a s k e d p r ic e s : n o s a le s w e r e m a d e o n t h is d a y .
I E x -r ig h t s ,
§ L e s s t h a n 100 s n a r e s .
1|S t a t e b a n k s , a E x - d i v l d e n d a n d
* S a l e a t S t o c k E x c h a n g e o r a t a u c t i o n t il ls w e e k ,
ii F i r s t I n s t a l l m e n t p a i d .
n S o ld a t p r i v a t e s a le a t t h is p r lo e
Y e a r ly
PAG ES
,4s*
625
370
___.
12th W a r r ij
23d W a r d 1l 6100
300
....
230
500
....
....
....
200
Vest S M e ll
rights,
400
220
a New stock.
Dec.
12 1908.
jtt6W York StOCK &eCGm~“-Conciuded-- Page %
S T O C K S — HI O H K S T A <V D L O W E S T S A L E P R IC E S
M r n d tit
D ec. 7.
S a'urd a y
D ec. 5 .
12
24%
14
30
G3
*181
15
40
83
33U
*90
21%
78%
9U
70
40l,s
*10012
4112
*9313
*202
* 5 t"
29
-'r\
1012
3512
55>2
10912
*3
*14
83%
90
1013
*191
*92
*38%
*45
*1 3 1 1 "
*130
1287,3
94
31
95
49
3%
*22
*50
14313
1512
*21l.t
273.1
*101
40
20
10212
1812
123s
2 5 's
15
30
033s
153.
4 9%
85
3312
90
2U ?
7.V’ -;
914
703.1
4 0%
1081"
42%
94
215
0
291.1
257s
17
351"
50%
1091"
7
4 5%
833,|
92%
100
300
96
40
50
132%
132
121)3,
95
31
95
5 0%
3%
24
r»o
14 U
161"
221"
29
102
42
27%
103%
181"
76
*44
50
3412 3 5
*S 0
93
80
80
12
24
14
30%
03%
147y
311"
041"
*181
15
43%
83%
33
*90
21
*7< %
9%
7 5*i
401.)
*100%
4134
$94
*202
683
29%
2 5%
157S
*34%
55%
§109%
*0
*4 4
83%
893s
100
*196
*92
39
*45
131 %
*129
128 %
*93%
31
95
49
3%
2*>
*50
*147
15%
*21%
2S%
101
40
20
162%
1S%
76
*45
34%
*80
83
____
15%
4 8%
83-*$
33
90
21
SO
9%
7 6%
40%
1031"
4 2%
94
212
G^i
31
20
103s
3W "
56%
109%
7
4 5 lo
8 3%
90*4
108%
300
90
39
50
132
131
129%
9434
3 1%
95
491"
3%
22
511.)
1 50
1 6%
221"
28%
101
41%
27
106%
183,
76
50
345s
03
85%
1 2 I.i
T u t: rin7
D ec 8 .
113.)
2
§1:
31
64%
§190
15%
4S34
8 3%
:)234
*90
* 2 (v?t
i 0-2
9%
75%
46%
108%
42%
§91
+ 20 2
*■%
30-%
25-%
15%
*33
55%
*109
71*
*44
83
90
*106
*200
§96
*38
132
*129
128%
9434
31%
*95
49
3%
$23
*50
*147
16%
*2 1
28%
§ 1 02
40%
2584
163 %
IS
*75
*4 4
31%
*80
♦ so
12
2 4%
14
3H "
65%
P ridav
D ec. 11.
12
24-%
14
325»
68%
12
24
14
32
6 7%
12
24%
141"
33
6 9 !"
§1 2
24
*14
303,
073s
_____
190
*181
153S 1 5 's
15%
40'.;
49
5 0%
84
8 3 % 85
3234
32
3 2%
06
*00
96
2 11-.
213., 2 1%
78
78
01"
0%
9%
75",
75%
76
46%
4 6 % 468.)
108%
109
1 00
43%
43
43%
94
95
05
2 12
*202
215
8%
7%
7%
345g
3 4% 3 6%
2 5 % 25%
25-%
1578
1534 163«
35%
35M 3 5%
56
5 5%
561.4
110
10!)5S 100 %
71"
6%
6%
45
47
45
8 3%
831.1 83%
01%
00-'3 9 2%
1063.4
107
106
*200
96
1)6
00
39
39
39
50
50
*45
132%
132
132
132
*129
131
120
128% 129%
9 4% 9 5
963,
318,
3 1 % 3238
96
C M 34 95%
493s 5 0 %
49%
33.1
33,
3%
2 3%
23
23
511)
511.1 51%
149
147% 1 4 8 3,
158.,
153,
1 5%
2.7
23 ‘ *2 1
29%
2 9 % 29%
102
101 % 1011"
41%
4 0 % 41%
2E34 27
261/
164% 163 % 165%
18
I 8 I.4
18%
75-% 758s
76
*4 4
60
50
3 6%
36
371.|
90
♦ so
90
86
86
*80
*181
1 5%
50
S4%
3Bs
*02
21%
79%.
9%
70
4034
*10*8"
4 3%
*94
*202
8
35%
2 5%
16
*34%
55%
n o
C34
45
83
91%
107 %
*200
97
3 0%
*45
132 %
12Q1*
129
94%
3 1%
95
4<)34
3
*23
*51
+ 14784
1*2^3
*21%
29%
2100
3984
2 6%
163.'.,
17%
76
§49
37
*30
*80
_____
10
508.
85
3 8%
06
211"
76%
91"
76
46%
10034
43%
08
212
8%
37
25%
16%
36
568s
n o
7
45
833,
££.?•
1C. 34
*185
15%
50-’s
83%
32%
*94%
20%
7910
9%
76
a:45%
z lO S
4234
95
*202
7%
3584
2 5%
15%
*34
55%
*10D3S
7
44
s : 81
90
c l0 }7 s
*200
*92
*39%
*45
131.%
131
1 29
202
3 1%
05%
4 9%
3
*22
*51
147
J55S
2-BS
29%
§100
39
253,
164
17%
*75%
*45
36%
*80
S4
93
159
106
65%
109
83,
23
11%
12
2 4%
14
3 1%
65%
*00
158%
'1 0 3
65
1088)
83S
23%
IB s
56%
3173
80
§7 5
70%
9 1%
119%
*12%
*81
82%
*105
6
92
75%
37
100 %
1234
48
3 8%
§0 9
1721"
*42%
1011"
2638
86U
78
110
44%
*80%
S34
*6 4
29%
7 5%
$ 88
*60
*13
*33
34%
108
*75
*90
93
1571" 15834 157
106
*100
1 00
04
64
*10834
1083.1 109
7%
77S
221.1
23
23
12
12
1 1%
*50
*50
57
3034
3 OI4 303.|
*79
80
80
75%
7 5%
75%
*70
*70
71
9012 901"
90%
11914 119% * 1 1 S
J212 12% *121o
*S 0
85
*80
823)
82
811"
1057>3 1 05"s 1053.1
<)
0
0%
*93
§93
95%
74
75
76
3734
38%
37
100
10012 1 0 0 %
1333
1 3%
13%
50
50
4934
39
39
*3812
9834 983.) * 9 7 %
*171
174
*171
4334
43
42%
1 02
102%
102
263s 2 03 )
2634
80
8012 8 7
7834 79%
78
*109
114
1 10
44%
4 4 % 451"
79%
7713 791"
$83.i
93
*90
1 58 %
1 58
*100
1 06
66% *04
10834
109
8
8
2234
2 2%
111"
IB s
5G38
57
3134
3 1%
80
80
7 5%
75
71
70%
OR
901.4
119%
119%
1233
12%
*81
85
8 2%
82%
IO084 100
6%
6%
90%
93
75
7 4%
3831
3 7 3s
100%
100 %
13
131"
*49
50
3834
39
*97%
99
* 1 71
1 75
4231 *12%
102% 210 1
2 6%
203;
80
80%
78% * 7 8
110% * 1 0 9
45
44
841" * 8 0
834
83;
$2834
75
*S5
60
13
♦ *>0
*3 4 1 "
10734
*74
541"
112%
4812
44
114
*0 4
*310
6912
89
*115
291.4 29%
29%
75%
*75
75
95
*85
95
61
6 0% +00
141"
*13
14
*33
35
35
*34%
35
34
107% 108
1 08
75
74
75
55%
5 4% 6638
55
1 12 3, 1 12 % 112% 112'%
4734 48
47
48%
44
4 3 % 44
43%
114
1 15
+ 113
*113
06
*64
*64
G6
350
*310
*310
3 50
7 0%
6 7% 6 9%
68
91
91
91
90%
1 15
120
120
*115
2834 $ 2 9 %
$7434
7 5%
*85
95
00
60
14
137s
36
*33
36
34
1073.) 108
76
74
54
55%
112%
113
4834
48
43%
4 4%
1 14 % 111
08
*02
350
*310
09%
71
89%
89%
§115
125
1 hursda’/
D ec. 10.
1 Wednesday
| D ec. 0 .
31%
80%
75
70S;
90%
110%
12%
85
83
106
6'.!
93
763;
401.)
100%
13%
50
3S34
09
175
433)
101
26%
86170
110
4 4%
84
S84
97%
49
CO
1323.4
1291"
129%
95
32
95
5 0%
3
24
53
1 49
15%
5 2%
30
100%
41
27%
1(35^4
18
76
493
3 83
90
86
93
*90
*90
93
159
1 59 % 16.0
1 58
108
1 05 % 1 0 5 !" 1 05
6.M" * 6 4
05?s
65
M 0834
10834 *10884 n o
8%
S '8%
8%
24%
24
23
23%
IB s
12
11*4
12
56%
57
57
57
32%
32
321.4 323:
8 0 % 82%
8 2%
8 03 ,
75
7 5% 753- 2 7 4 %
7 0 *.
269%
7 0 % 7 08
93%
931"
921"
93
119% * 1 1 78s 119% * 1 1 7 1 "
123,
12%
13%
13%
85
§8 3
S3
282%
8 3%
831.1 8 4% 2 8 0 %
106 % § 1 0 5 % 1051.1 * 1 0 4 %
6
6
94%
93
92
93
753
74% 75%
73%
M l " 37 lo
101 % 100*8 100-1. 1 00 %
13
14%
14%
13%
40
50
48%
48%
3 93 ,
3 9%
39%
39%
99
9873
99
§0 9
172 % * 1 7 1
174
*171
43
43%
433s
43%
1011" *9 S % 103
*08%
2 7%
261.1 2 6%
26%
8 6%
86%
86
79
*78%
79%
79
no
*109
112
*109
14%
4 4%
4 4%
45*s
81%
*8 1
84% * 8 0
*S34
9
9
9%
66
6 6 I0
2084 2 97 ;
29%
2958
77
7 6 % 771"
76%
88
90
90
*86
02
62
6 33 ,
62
15
*12
14
*13
36
*33
35
*33
3 4% * 3 4 %
35
34%
108
1073.4 108
1 07 %
76
§76
76
75
£6*4 2 5 4 %
55-%
5 4%
1 12 % 113
113%
11258
48
47%
48
47%
4 4%
44
4 4%
4334
115
*113
1 15
*113
64
66
64
*64
*310
*310
335
335
69%
70
70
08
90
0 0%
00%
8978
*117
125
1 25
*115
12
24%
111"
32
69
Sates 0
he
Week,
Shaers
N E W
STOCKS
Y O R K STOCK
EXCH AN G E
Range sin ce J a n . 1 p j 's
On basis ol 1 0 0 -snere con
Loictsi
3 .0 8 5 W h e e l i n g & L a k e E r i e ____
5 ,6 0 0
D o 1 s t p r e f _______________
2 ,9 9 0
D o 2 d p r e f _______________
1 8 ,7 0 0 W i s c o n s i n C e n t r a l ________
3 7 ,4 3 3
D o p r e f ____________________
ln d u s t r ia l& M is c e lla n e o u s
12 A d a m s E x p r e s s __________
1 2 ,8 7 0 TV i j | y .C h a l m e r s . ________
2 2 ,5 0 0
D o p r e f _______________
1 0 2 ,3 5 5 A m a l g a m a t e d C o p p e r ____
3 ,5 5 0 A n i e r A g r i c u l t u r a l C k e m .
4%
12%
0
1 3%
33
M ch
Apr
F eb
F eb
F eb
93
160
1 05 %
6 5%
109 %
8*3
23*4
11%
57
3 23 ,
8 2%
75
69%
9 33 ,
119%
138,
821.,
82
1 06
6%
93
371.1
101
141"
40%
39%
9 8%
173
433$
101
2 6%
8 6%
79
112
4434
82
9%
GO
30%
7 6%
92
6 2%
14
35
34%
108
75
55%
113%
4778
44%
115
66
335
691"
00
1 25
G e n e r a l E l e c t r i c ____________
G r a n b y C o n s M S & P ____
t n t H a rv e s te r stk tr c t fs .
D o p r e f s t k t r c t f s ____
I n t M er M a rin e s t k tr c tfs
D o p r e f ____________________
I n t e r n a l o n a i P a p e r _______
D o p r e f ____________________
I n t e r n a t S t e a m P u m p ____
D o p r e f ____________________
M a c k a y C o m p a n i e s _______
D o p r e f ____________________
a t l o n a l B i s c u i t __________
1*
D o p r e f ________________
N a t E n a m c l’g & S ta m p ’ g
D o p r e t ____________________
N a t i o n a l L e a d _______________
D o p r e f ___________________
N e w l i o u s c At & S . P a r S l O
N e w Y o r k A i r B r a k e _____
N o r t h A m e r ic a n C o , new
1 .7 0 0
1 ,9 5 0
605
3 G 9 .1 1 5
1 1 ,3 4 0
3 ,8 0 0
7 ,5 0 0
400
1 00
U n i t e d S t a t e s R u b b e r ____
Do
1 s t p r e t _____________
Do
2 d p r e t _______________
U n i t e d S t a t e s S t e e l _______
D o p r e f ____________________
d U t a h C o p p e r ____P u r $ 1 0
V lr g ln la -C a r o lln a C l i e m ..
D o p r e f ________________ .
V ir g in ia I r o n C o a l & C o k e
111
78%
52
99
6
16
8
47
13
65
52
59%
68
102
71"
§70
36
l c o p l e ’ s G L & C (C h ic )
P i t t s b u r g h C o a l C o ________
D o p r e f ____________________
P r e s s e d S t e e l C a r __________
D o p r e f ____________________
P u l l m a n C o m p a n y ________
1.) a l l w a y S t e e l S p r i n g ____
D o p r e f ________________
R e p u b l i c I r o n & s t e e l ____
D o p r e f __________________
C lo s s -S h c lfle ld S te e l & Ir
kA
D o p r e f ________________
d T e n n c s s e e C o p p e r P a r tZ 0
T e x a s P a c ific L a n d T ru s t
I 1 n l o n B a g & P a p e r _____
U S C a s t I P i p e <5c F o u n d r
D o p r e f _____________ ______
U n i t e d S t a t e s E x p r e s s ____
U S R e a lty & lm p r o v e m t
U S R e d u c t io n & R e fln ’g
e s te r n U n io n T e l e g . .
1 4 ,6 5 0
4 ,0 5 0 W c s t l n g h ’ s c E l & M f g a s s e n
161
Do
1 s t p r e f _____________
ljcmesL
Highest
H
27
2a
It
164
./a n
5
M ch 6
14
M c h (s
45% F e b 19
13
Jan
4
781" J a n
A m e r i c a n B e e t S u g a r _____
9 % F e b 10
D o p r e t ____________________
65
J a n 23
A m e r i c a n C a n _______________
4
F e b 20
D o p r e f ___________________
44
Jan
4
A m e r ic a n C a r & F o u n d r y
2 5 % F e b 13
D o p r e f __________ _______
84% M c h 4
2 4 % F e b 19
A m e r i c a n C o t t o n O i l _____
tso
J a n 16
D o p r e f ___________________
170
F e b 26
A m e r i c a n E x p r e s s . _____
A m e r ic a n H id e & L e a th e r
2*4 F e b 26
lil" M eh 4
D o n r e f ___________________
121" F e b 8
A m e r ic a n le e S e c u r itie s .
6
M ch £
A m e r i c a n L i n s e e d ________
17
M ch £
..
D o p r e f _____ ___
3 1 % F e b 2£
A m e r ic a n L o c o m o t iv e . .
85% J a n 2
D o p r e f ___________________
3
M ch 2
A m e r i c a n M a lt C o r p _______
21
J a n 13
D o p r e f . ____________ . .
70 J a n 17
A m e r S m e lt e r s S e c p r e f B
551" F e b 17
A m e r S m e lt ln g & R e lin in g
>>73j F e b 26
D o p r e f.
..
............ ...
ISO
A u g 24
SO M c h 23
350
D o p r e f ____________________
28
S e p 29
6 00 A m e r S t e e l F o u n d ( n e w ) .
2 6 % F e b 14
9S3, J a n
2
1 ,9 0 0 A m e r i c a n S u g a r R e t l u l n g
D o p r e f ____________________
105
F e b 18
200
101
Jan t
7 ,4 2 0 A m e r i c a n T e l e p h & T e l e g
721 " , ; a n
1
6 ,3 1 9 A m e r i c a n T o b a c ( n e w ) , p i
1 0 ,3 0 0 A m e r i c a n W o o l e n __________
1 5% F e b L
D o p r e f ____________________
7 *% F e b 11
1 ,2 0 5
1 9 ,1 0 0 d A n a c o n d a C o p p e r P a r i Z 5 S 27% F e b K
8 2 % J a n 23
1 ,8 0 0 d B a t o p l l a s J . i l r u n g P a r S Z 0
12
J a n 12
6 5 0 i J e t h l c h e m S t e e l __________
d o p r e f ________________
35
Apr 8
1 20 * *
1 ,3 0 0 B r o o k l y n U n i o n G a s _____
a So
F e b 21
i> J a n
:■
20!) B r u n s w i c k D o c l r & C I m p
F cD T
2 2 0 T in lte riT fir C o ________________ '§ 1 0
151" F e b 10
3 5 ,2 7 0 ( 'e n t r a l L e a t h e r __________
V
D
o
p
r
e
f
________________
753
,
J
a
n
2
1 ,9 3 5
5 4 ,6 1 0 C o l o r a d o F u e l & i r o n _____
15% F e l ) 11
1 7 .3 0 0 C o l & H o c k C o a l & I r o n .
14% M e h 6
4 6,21.'; C o n s o l i d a t e d G a s ( N Y ) .
96
Jan 3
10% F e b 10
4 ,9 4 0 C o r n P r o d u c t s R e f i n i n g . .
D o p r e f ____________________
56
Jan
2
1 ,1 0 0
4 7 % O c t 16
45 C r c x C a r p e t _______ ________
2 7% F e b 16
2 1 ,6 0 0 D i s t i l l e r s ’ S e c u r i t i e s C o r p
72% N o v 2 1
F e d e r a l M in in g & S m e lt ’ s
D o p r e f ____________________
69
F e b 10
600
56
J T y l ’S
F ederal S ugar R e f o f N Y
5 ,6 0 0
690
800
2 ,2 0 0
1 1 ,6 0 0
1 4 ,4 0 0
1 ,7 5 0
600
8 ,1 5 0
3 ,3 3 3
1 ,3 2 4
6 00
4 ,0 5 0
300
5 ,1 7 7
165
1 5 ,3 5 0
3 20
6 ,9 5 0
2 ,7 2 5
4 ,2 9 0
2 4 ,7 3 5
6 .2 0 0
5 ,4 0 0
3 ,0 0 0
3 ,2 0 0
320
100
7 00
4 00
4 ,5 0 0
2 ,2 5 0
1 ,0 1 0
300
1 0 ,1 0 0
1 ,5 0 0
1 ,3 0 0
900
3 ,6 7 5
1 ,0 0 0
103
5 ,5 0 0
600
Range 1or P r e v i o u s
Year (1 9 0 7 )
,
200
16%
523.
84%
3 23 ,
06
20-31 . 1 ,0 2 0
701660
2 ,1 0 0
98s
9 ,2 0 0
76%
4 6'^
7 ,1 0 0
5 10
108
7 ,1 3 0
431"
05
2 62
212
8%
1 8 .2 6 0
3 7% 3 0 .7 2 0
25%
3 ,5 4 2
16%
4 ,7 0 0
36
400
5 (jlj
1 4 ,7 3 5
n o
385
800
7%
44
3 00
2 ,4 0 0
83
0 2% 2 1 2 ,9 2 0
105%
3 .7 6 0
4 0%
50
132%
131
129%
92%
3 1%
95%
501.1
3%
24
53
147
15%
52%
30%
1 00
40
26%
106%
18%
761"
50
38
00
84
1519
Jan 2
Jan
2
J ' 11c 11
J ’n e i i
O c t 26
F e b 25
Apr )
O ct
1
Jan 2
J a n 10
F e b 25
F e b 25
Jan 3
Jan
2
F eb n
F e b 25
F e b 10
$ 4 % O c t 22
50 J a n 2
42% M c h 5
24
A p r 20
80
Jan
2
8 % M c h 17
3 6 i » F e b 14
17% F e b 10
09
Jan 3
147 J a n
3
23% F e b 8
75
J a n 29
1434 F e b 11
63
J 'l i e 19
36
J an 2
87% J a n
/
$ 2 5 % F e b 17
45
F e b 11
4
F e b 21
17% F e b 26
56% J a n
2
70
F e b 18
36% F e b 5
4
F e b 21
16
F e b 16
17% F e b 10
;s
F e b 19
42
F 'e b 21
2534 J a n 2
87% J a n 2
(2 0
Jan
2
16 F e b 27
iS 7
Jan 2
43
Jan
7
§260
F e b 12
41
F e b 19
38
M c h 11
1 68
M c h 24
: £ 7g D e c
5
33
D e c 10
6 9 % D e c 10
§200
16%
6234
88%
A u g 26
D e c 11
D e c 11
N ov 7
13
O ct
28
O ct
Aug
Aug
14 N o v
141*4 O c t
10 O c t
16
N o v 23
75 O c t
24% A p r 3
734 N o v
80
O c t 14
75 M e li
1 0 % N o v 12
3 O ct
7*1% N o v 2 1
34 N o v
4734 N o v 13
243s O c t
169
D ec 9
78 O c t
4 4 3 j j \ o v 25
21 N o v
67
N o v ll
70 N o v
§22 4
M a y 11
1 75 O c t
81" D e c 9
2 i" N o v
3 7 % D e c 11
10 O c t
31*8 A u g 11
8% O et
171" D e c 4
63s O c t
25 " D e c 5
16% O ct
593s A u g 13
32% N o v
S3 O c t
lliT s N o v 7
8 % S e p 16
2 % J 'n c
o il s S e p 1/
17 N o v
84% A u g
60 O c t
10?
Aug
53% N ov
1 10 % A u g 5
$1=4 O c t
2 00
A p r 36
150 O c t
§70 N o v
9 7 % S e p 17
_____ _______
41
N o v IS
47% D e c
20 N o v
1 3 /3 4 A u g U l
9234 D e c
131
N o v 24 r lU 6 N o v
88 O e t
132 o8 N o v 24
9 , % J ’ l y 14
60 O e t
3238 D e c 9
11 O c t
6S N o v
97
N ovi4
2631" N o v 12
S’- 5*^ O c t
$5
M ch <
43 O c t
S N ov
2 7 % N o v 26
67
N o v i.
23 N o v
152 % N o v 2 :
£0 N o v
17
N o v 25
6 O et
$ 25
J a n 15
27 O c t
3 6 % D e c 11
11% N o v
1 U "D e c <
6.8 N o v
42
D ec 5
14 N o v
271 " D e c 5
14 D e c
16634 D e c i
74 O c t
261" A u g 1
8 O ct
SU
A u g (j
46 O e t
4S*4 O c t 2 o
2S34 D e c 10
26 D e c
94
A u g 10
50 O c t
89
N o v 12
47 O c t
6SU j n e2u
42 F e b
100
J ’l y ,
7 6 l*'eb
16234 D e c 2
89% O ct
109 % J ’ i y 30
60 O c t
_____ _______
67% N o v 2 S
____________
1 10 % N o v l l
9
M a y 11
4 % O ct
24% D e c 9
10 N o v
7% N ov
13% N o v 18
51 N o v
65
J a n 16
8 O ct
3 4 % N o v 14
83% S e p
2
50 O e t
78
N o v 10
40 O c t
7134 N o v 30
50 O c t
93*4 D e c 11
5 8 l"O c t
120
J ’ l y 22
90 N o v
1334 D e c 11
6% N ov
2 82 % D e c 11
§7 5 S e p
92
Aug 7
33 N o v
106 % N o v 18
80 O ct
$ 9 % J a n 20
$5 D e c
47% D ec
98
N o v 25
78
N ov30
37 N o v
40% D e c 8
1 02
N o v 18
70% O ct
14% D e c 10
7 N ov
50
D ec 4
37 N o v
41
N ov 9
15% N ov
9934 N o v 16
64 N o v
174
N o v 16
1351., N o v
4G*s A ui-i G
21% O ct
103
D ec 2
72 N o v
29
N o v 13
12 O c t
89% N o v l 3
60% O ct
S134 N o v 17
26 O c t
110% D e c 7
80 O c t
$ 6 2 % N o v 16
$17 O c t
84% D e c 7
42 D e c
9 “6 N o v 2 3
4 O ct
30% N o v 9
78% A u g 10
90
Jan
6
64
N o v 17
15% A u g S
39
Aug 8
37% A u g 7
108
D ec 2
7 5 % N o v 27
6s-% N o v -1 3
1 14 % N o v 4
$5234 N o v 9
4o% D e c
1
115
N o v l4
68
N ov 9
325
N o v 16
7134 N o v 3 0
94
N o v 17
1 25
N o v 24
§ 1 50
17
49
70
30
O
N
N
N
ct
ov
ov
ov
6% N o v
18 % D e c
13% N o v
62 O c t
39 N o v
21% O ct
79% N ov
$ 13
12%
75
31
O ct
N ov
N ov
O ct
54
32
60
D ec
N ov
D ec
•
H ig h e s t
16*4
3 7 34
2B4
257$
61%
33U
1078
/.g s ,
121 %
25-38
Jan
Jan
Jan
Jan
Jan
J ’ nu
Jan
Jan
Jan
Jan
2 : i" J a n
80 “ J a n
7 i" A p r
66’ 1" A p r
4 ;,% J a n
103
Jan
301" J ’ ly
90 “ J a n
247
Jan
6% J a n
3 01 " J a n
8S
Jan
19% J a n
36
Jan
7534 F e b
1 1 1 1" J a n
§7 % A p r
40
F eb
93% J a n
r l5 5
Jan
1173s J a n
205
Jan
102
J ’ue
__ . . . .
4 /1 " J a u
1 3 /1 7 F e b
131
Jan
133
Jan
9834 J a n
36% J a n
102*8 J a n
302".< I’ Cb
■9 % M a y
20% J a u
60
Jan
125
M ay
I 41. J a n
491s J a n
40
F eb
102
F eb
57% J a u
2838 A p r
140% M c h
2434 J a n
88
Jau
_____
78
F eb
163
Jan
97
Jan
6 21 " J ’ u e
100 “ M a y
163
Jan
152
F eb
__ . . . .
_____ _____ _
8% J ’n e
24
Apr |
18% J a u
81
F eb
41
Jan
81
Jan
75% J a n
86% J a u
1173S M c h
15% J a u 87
F eb
76% J a n
103
Jan
S2034 A p r ,
1 4 i% J a n ,
*>9?.; J a n j
4 iio J a n
98% J a u .
16% J a n 1
60% J a u
67
Jan
yo% J a n
181% J a n
57% J a u
00% F eb
41
Jan
1 00
Jan
7734 J a n j
§107
Jan 1
$53% M ch
85
Jan j
S% J a n
Cl
Jan
401 " J a n j
80
Jan
§117
Jan
001" J a n
30% J a n ;
OS J a n ,
52% F e b
1007g J a n 1
78% J a n
60% J a n .
107*4 J a n
$39% M ch
393S J a n
108
Jan
97
Jan
300
J ’n o
85
Jan
154
Jan
$ 16 0
M ay
BAN K S AND TRUST COMPANIES— B A N K E R S' QUOTATIONS
Banks
H r o o k ly n
B o r o u e h 11.
B r o o k l y n 1 ,.
B roadw ay 1
F i r s t ________
H l U s l d e l i ____
H om e Bk 1 .
I lo m e s t c a d l
M a n u f a e ’ rs
Lild
Mechanics’ll
375
250
lit )
110
10)
4 00
2 25
M o n ta u lc ...
N a s s a u _____
N a t C i t y ___
240
280
*
Mr)
A sk
110
145
450
266
131)
)2 5
125
4 25
2 50
145
270
320
Banks
B r o o k ly n
N o r t h S i d e 1,
F e o p B U ------1’ r o s p ’ c t F k l
I’e r n i l n a l 11
U n lo n li-.-
Hid
A sk
175
150
140
_____
145
1 ru st C o ’ s
A’ V C ity
A s t o i _______ 3 0 0
B a n k e r s ’ ’1 1 41 7
B o w l ’ d G r ’ i. 3 25
B ’w a v T r . . N 33
165
130
160
3 15
•100
3 40
—
T ru st C o’ s
Hid
N Y C ity
1 65
C a rn e g ie . .
C e n t r a l T r . 1750
227 %
C o lu m b ia . .
145
C o m m e r c ia l
O o n r w e a lth
2 40
E m p ir e
E q u l t b l c T t §3 07
1200
F arm L o & T
195
F i d e l i t y ___
---F ift h A v T r
2 75
F ' u l t o n _____
4 90
G u a r’ty T r .
Ask
175
_____
___
155
85
__ __
_____
1225
2 06
425
H id
T ru st C o’ s
G u a r d i a n T r 1 75
H u d s o n ____ 1 139
K m c k c r b ’ k r 300
C erts A . .
75
L a w T I & T r 235
L in c o ln T r .
165
M a n h a t t a n - 350
M e r c a n t ile . 725
5U5
M e t r o p o l ’ tn
M orton T r .
425
M u t u a l _____
105
M u t A U ’ n ce
Ask
1 85
325
80
175
400
___
145
B id
T ru st C o’ s
N Y L l f e & T r 1100
575
N V T ru st.
S t a n d a r d T r 325
T l t l e G u & T r 4 20
3 00
Tr Co of Am
U n io n T r u s t
1025
U S M tg & T r 360
U n i t S t a t e s . 1125
V a n N ’ d ’n T r 250
4 00
W a s h in g to n
W e s t C h e s t e r 1 40
140
W in d s o r . .
Ask
1125
____
____
1075
3 75
1176
260
150
T ru st C o’ s
H id
B ro o k yln
B r o o k ly n T r 395
120
C i t i z e n s ’ __
F l a t b u s h __ 620 0
1 95
F r a n k lin . .
2 60
H a m ilto n . .
H o m e _______ 105
K in g s C o . .
4 50
L Isl L & T r 285
N a s s a u _____
165
P e o p l e ' s ____ 2 7 0
80
W lllla m s b g
A sk
410
130 i
206
275
110
295
175
280
1 00 !
----
IJId and asked prices; no sales on tills day. § Les* than 100 shares. I Ex-rights. & New stock, c Ex-dlv. and rights. j Now quoted dollars per shar*.
Sale at Stock Exchange or at auction this week, s Trust Go. certificates. 1| Hanks marked with a paragraph (U) are State banks.
New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
O C C U P Y IN G
v
B O M )*
Price
Friday
Dee I t
N . Y. STO C K E X C H A N G E
W m
e n d in g D eo 11
U
U
U
U
U
U
U
U
U
S
S
S
S
S
S
S
S
S
0 . *• G o v e r n m e n t
2 s c o n s o l r e g i s t e r e d . (< 1 9 3 0
2 s co n s o l c o u p o n ....d l9 3 0
3 s r e g i s t e r e d ............ . . f c l 9 1 8
3 s c o u p o n . . . . . ............../ c l 9 1 8
3 s r e z s m a ll b o n d s ..£ 1 9 1 8
3 s c o u s m a l l b o n d s . . 4 :1 9 1 8
4 s r e g i s t e r e d ........... . . . . 1 9 2 5
4 s c o u p o n .......................... . 1 9 2 5
B a n C a n 1 0 -3 0 y r 2 s .fc l9 8 6
S t a te a n d C ity S e c u r it ie s
A la b a m a o u r r f u n d 4 s . ...1 9 2 0
D i e t o f C o l u m b i a 3 * 6 5 s ____ 1 9 2 4
L o u is ia n a n e w c o n s o l 4 s . .1 9 1 4
N e w Y o r k C ity —
4 % C o r p o r a t e S t o c k ____1 9 5 8
4 % a s s e s s m e n t b o n d s ..1 9 1 8
N e w 4 > 2 8 .................................. 1 9 5 7
N e w 4 % s .................................. 1 9 1 7
4 *a % C o r p o r a te S t o c k ..1 9 5 7
4 >2 % a s s e s s m t b o n d s ____1 9 1 7
4 % ' C o r p o r a te S t o c k ....1 9 5 7
N e w 1Y o r k S t a t e — H i g h w a y
I m p r o v e m ’ t 4 s ..................... 1 9 5 8
S o C a r o l i n a 4 *28 2 0 - 4 0 .......... 1 9 3 3
T e n u n e w s e t t le m e n t 3 s . .1 9 1 3
V ir g in ia fu n d deD t 2 - 3 s ...l 9 9 i
6s d e fe rre d B r o w n B ro s c tfs .
R a ilr o a d
la b a m a C e n t S e e S o R y
i a b a M l d l S ee A t C o a s t B i n e
A l b a n y <fo S o s a
S e e D e l <& H u b
A lle g h e n y V a lle y t e e P e n n i l l !
A lie g & W e s t
tiee B u r R <& 1
A n n A r b o r 1 s t g 4 s ............A 1 9 9 6
A t e h T <& S E e — G e n g 4 s . 1 9 9 5
R e g i s t e r e d .............. .................1 9 9 5
A d ) u s t m n n t g 4 s . ............A 1 9 9 5
R e g i s t e r e d . . . . . ........... h l 9 9 5
S t a m p e d ..............................A 1 9 9 5
O o n v g 4 s .................................. 1 9 5 5
1 0 - y e a r c o n v g 5 s ........... 1 9 1 7
D e b e n tu r e s 4 s S e r ie s H . 191 0
S e r i e s 1 .................................. 1 9 1 1
S e r i e s K ................................ 1 9 1 3
E a s t O k la D lv 1 s t g 4 s . .1 9 2 8
S h o r t L in e 1 s t 4 s J P M re cta
A t i K n o x <& N
tie e I n f o N
A t l a n t i c C o a s t 1 s t g 4 S .A 1 9 5 2
C h a r l e s <& S a v 1 s t g 7 s . . 1 9 3 b
8 a v E <fe W 1 s t g o l d 6 s . . 1 9 3 4
1 s t g o l d 5 s ............................ 1 9 3 4
A l a M id 1 s t g u g o ld 6 s . .1 9 2 8
B r u n s A W l s t g u g 4 s ..1 9 3 8
L A N c o l l g 4 s .................. 0 1 9 5 2
811 S p O c a «fo G g u g 4 s . . 1 9 1 8
A t l a n t i o <fe D a n v tiee S o u t h R y
A u s tin & N W
N e s S o u B a c it ic
a i t <fo O h i o p r i o r 1 g 3 * a s . 1 9 2 5
H o g i a t e r o d .................... A 1 9 2 5
G o l d 4 s ....................................A 1 9 4 8
R e g i s t e r e d .............. ........ A 1 9 4 8
P itts J u n o 1 s t g o ld b s . .. 1 92 2
P J u n A M D i v 1 s t g 3 *281926
P L E A W V a S y s r e f 4 s l9 4 1
S o u tliw D lv l s t g 3 % s . . . 1 9 2 5
R e g i s t e r e d .......................A 1 9 2 5
M o n o n U lv 1 s t g u g 6 s . .1 9 1 9
C e n O h io It 1 s t o g 4 * a s ..l9 3 o
C l L or A W co n 1st g 5s 1933
O h io R i v e r R R 1 s t g O s .1 9 3 6
G e n e r a l g o l d 5 s ................ 1 9 3 7
P it t s O le v A T o l 1 s t g b s 1 9 2 2
P i t t s * W e s t 1 s t g 4 s . . .1 0 1 7
S t a t I s l R y 1 s t g u g 4*28 1 9 4 3
B a t C r e e k «fo S N ee M i c h C e n t
B e e c h C r e e k S e e N Y O <6 H
B e l l e v * C a r S ee I l l i n o i s C e n t
B k ly n A M o n ta u k
S ee L o n g 1
B r u n s * W e s t S ee A t l C o a s t L
B u f f a l o N Y * E r i e S ee E r i e
B u ffa lo R * P g e u g 5 s . . .1 9 3 7
C o n s o l 4 * 2 8 ..............................1 9 5 7
A i l * W est 1 s t g 4 s g u .. 1998
d * M a l l 1 s t g u g 5 s ____ 1 9 4 3
' B o o h & P it t s 1 s t g b s .,.1 9 2 1
C o n s o l 1 s t g b s .................1 0 2 2
B u ffa lo * S o u t h w e s t S ee E r ie
B u ff * S u s o 1 st r e f g 4 s .d l9 5 1
Bur C K & N
S ee C R I * p
BO N D S
104*2
104*8
101%
102
100
.........
1201, 121
121
...........
102*4 103*4
I 9.1Ts Salt.
91 Sale
82
83
11023, 103 %
99
99 >2
93*, 04%
85
917,
837s 91
75
823,
100*, 105
96 101
90*2 94*2
a sis o f $ 5 t o £
h es e a r e p r
Ill
Mar’02
Nov’Ob
105 *2 DeoJu4
1 10
i
;
,
;
I
i
r
r
,
,
,
103
103
S a le
1 0 1 % 1 0 1 % 1 01 3 4
112
1 1 2 * 2 1.12 *s
no
112H . 112*8
no
103
103>» 103
1 9 1 7t
112*4
1013,
1 05 38
101*4
105
102
1 0 1 »8
101’,
1123,
1 0 4 '*,
1 1 2 »8
104%
103*8
109
no
'104 *a........ 104*4 Nov’08
112
1123,
104% 104*, 104% Dec’08
103
103 103*2 103
110 Aug’08
120 Mar’Ol*
05 J’ly ’08
90 100
93*2 96*2 93 *2 Nov’Ob
45
1 45 ......... 45
112*4 112*2
102
............
"9 4 " "9 6 '
90
93*2
2 2 >v 4 5
A
35®, Dec’08
i
,
t
1
'
100*a
100
100%
102
Deo’ub
92
92*2 " 2 6
86 Apr’07
02*»
03 **14
102
1023, 2 6 8
105
106 3 2 0
06*2 Mai’08
08*2 Nov|04
04 Nov’Ob
08 Nov’Ob
06%
97
17
93
S a le
1 0 2 % S a le
1 0 5 "g b a l e
96*2 95%
B
96%
19
96
9e
95 Sale 943,
90 Apr’08
1003,
i'oO%SMe" 100
......... 08
98
98
100
........... 120
Oct '01
80
...........
90 Oct ’08
91*2
06*2
0 6 *2 9 7
90
95
89V, 90
96*2 102
95
98
116*2.......
100
09*4.......
'1 2 0*8 I " ”
1 2 0 * 8 .........
8 3 " ' 90 "
87
97
833 4
1033, 109
102*4___
101
116 Nov’ 08
106 Deo’08
98 Deo’ 07
103 J’ly ’08
119*2 Sep’08
120*8
103
114
117
120*,
O c t ’08 . . ..
Sep ’08
78 Deo’08
61*2
64
87*2
103
119*2
120*8
91
107*4111
98*4 106
108%
1083,
102*2
1 0 2 -* ,
100*>» M a y ’ 0 7
116*2_____ 114
101
108
116
101*2 1 0 6
112
114
97*4 110*2
109 109*4 109*4 109*4
113 Apr’Ob
81
"so" ."II" 80
80
...........
62*„ 6 3
92*a
108*4 111
100*4 109
89
t5oV
95*4 98*2
95
97*4
80
74
88 %
93*2 93*2
IIIIII i0 7 * i
1 0 0 * 2 .........
1 1 1 * 2 .........
110
113
105*2 1 0 9
109
.........
04
.........
S t a m p e d ..........................................
82*2 "93
85*, 105
94S>108
96*2 96*2
-• 111*2 124
9 2 *s Salfo
Y^tan So lat ext 6s .............1913 J-J
^ d 5s................................ 1913 M - S
R e g i s t e r e d . . . . . . .............. 1 0 1 0 M-S
Garb * Shawn See 111 Cent
Carolina Cent NeeSeah Air L
Cartilage & Ad See N Y O & H
iCed R la E * N See B C R * X
!Oen Branch Ry See Mo Pao
Cent of Ga RR 1st g 5a..»1945 E-A
Consol gold 5 s .................1945 M-N
Registered..................... 1045 i i - r j
1st pref income g 5 s___ p l9 4 5 Oot
78
853t
95 ’8 101 >s
95 *2 10b
83
05*8
123% J’ne’08
1 1 2 % J a n ’04
114% N oi’U5
90*2 Mar’06
86
87
03 >2 Sep’08
10b
PA GE.**
P n ce
L Y id a y
D ee 11
N . SL S T O C K E X C H A N G E
W e e k E n d in g D e o 11
I03*a
104
lO o
1003,
F o r e ig n G o v e r n m e n t
I m p e r i a l J a p a n e s e G o v e r n i n 't
S t e r l i n g l o a n 4 % s ............... 1 9 2 5
2 d s e r i e s 4 '% s ......................1 9 2 5
S t e r l i n g l o a n 4 s ................. 1 9 3 1
B e p u b „o l C u b a 5 s e x te n d e b t ..
U S o l M e x ic o s I g 5 s of 1899
G o l d 4 s o f 1 9 0 4 ......................1 9 5 4
2u prei income g 6 s....p l0 4 5
FOUR
23
C e n t o f G a B B —(C on )
2 d p i e f In co m e g 5 s sta m p ed
3 d p r e t i n c o m e g 6 s ____ p i 9 4 5
3 d p r e f in c o m e g 5 s s ta m p e d .
O h a tt I ) i v p u r m o n g 4 8 .1 9 5 1 J -D
-^ o r D lv 1 st g 5 s . 1946 J M i d G a <fc A l l D l v 5 s . . . , 1 9 4 7 J M o b i l e D l v 1 s t g 5 s ..........1 9 4 6 J
U > u R R A B o f G a c o l g 6 s 1 9 3 7 M -N
t ^ e n t o t N J g e n ’,1 g o l d o s . 1 9 8 7
R e g i s t e r e d ....................... * 1 9 8 7
A m D o c k A i m p g u 5 s . .1 9 2 1
r f S e n g u g S s 1920 J L e h <fc W i l k s B C o a l 5 s . . 1 9 1 2 .VI-N
m
4 * a s . . . . ff1 9 1 0
n " . V s* L o n g B r g e n g 4 s 1 9 4 1 3:2
C e n t P a c it lo
S ee S o P a o i l i c C o
L e n t V e r m o n t 1 s t g u 9 4 s . e l 9 2 0 Q -E
C h a s A S a v se e A t l C o a st L in e
L l i e s A O h i o g o l d 0 s ............« 1 9 1 1 A - 0
1 s t c o n s o l g 5 s .......................1 9 3 9 M -N
R e g i s t e r e d ........................... 1 9 3 9 M -N
G e n e r a l g o l d 4 * 2 8 .................1 9 9 2 M -S
R e g i s t e r e d ........................... 1 9 9 2 M- 8
B i g S a n d y 1 s t 4 s ................1 9 4 1 J - D
C r a i g V a l l e y 1 s t g 6 s ____ 1 9 4 0 J - J
R <fo A D i v 1 s t c o n g 4 s „ 1 9 8 9 J - J
2 d c o n s o l g 4 s ..................... 1 9 8 9 J - J
W a r m S p r V a l 1 s t g o s . .1 9 4 1 M -S
G r e e n b r i e r R y l s t g u g 4 s ’ 4 0 M -ri
C l u e <fo A l t R R r e f g 3 s . . . 1 9 4 9 A - O
J t a i l w a y 1 s t l i e n 3*2 3 . . . 1 9 5 0 J
R e g i s t e r e d . , ....................... 1 9 5 'b J - J
O h i o B u r l A Q — D e a r V 4 s 1 9 2 2 F -A
G e n e r a l 4 s ............................... 1 9 * 8 M - S
I l l i n o i s D i v 3 * 2 8 ...................1 9 4 9 J
R e g i s t e r e d ........................... 1 9 4 9 J - J
I l l s D i v 4 s ...............................1 9 4 9 J - J
I o w a D lv s in k fu n d 5 s . .1 9 1 9 A -O
S i n k i n g f o n d 4 s ................1 9 1 9 A - O
N e b r a s k a E x t e n s i o n 4 8 . 1 9 2 7 M -N
R e g i s t e r e d ............................1 9 2 7 M -N
S o u t h w e s t e r n D i v 4 s ____ 1 9 2 1 M -S
J o i n t b o n d s S ee G r e a t N o r t h
D e b e n t u r e 6 s ......................... 1 9 1 3 M -N
H a i l (ft S t J o s c o n s o l 6 s . . 1 9 1 1 M -S
C h i c A E 111 r e f <& i m p g 4 s 1 9 6 6 J - J
l s t c o n 8 o l g 6 s ............. . . . . 1 9 3 4 A - O
G e n e r a l c o n s o l I s t S s . . . . 1 9 3 7 M -N
R e g i s t e r e d ............................1 9 3 7 M -N
O h i o * I n d C R y 1 st 5 s .1 93 6 J -J
C h ic a g o A E r ie
S ee E r ie
C h i c I n <fo L o u l s v r e t 6 s . . . 1 9 4 7 J - j
R e f u n t l u i g g o l d 6 s ..............1 9 4 7 J - J
L o u ls v N A A O h 1 s t 6 8 .1 9 1 0 J - J
J
O h io M i l & S t P t e r m g 5 s 1 9 1 4
G e n e r a l g 4 s s e r ie s A ..e l 9 8 0 J -J
R e g i s t e r e d ......................... <j1 9 8 9
J
J
G e n e r a l g 3 *2 S s e r i e s B .e .1 9 8 9
C h ic A L S u D l v g 5 s . . ..1 9 2 1 J - J
C h i c <fe M o R i v D i v 5 S .. . 1 9 2 U
J
O h i o A P a o D i v 6 s ..............1 9 1 0
J
O h i o ifo P W 1 s t g 5 s ......... 1 9 2 1 J - J
D a k <fc G t S o g 6 s ................ 1 9 1 6
J
E a r <fo S o u a s s u g 6 s ..........1 9 2 4 J - J
H a s t * D D l v 1 s t 7 s ..........1 9 1 0 J - J
l s t o s ........................................ 1 9 1 0 J - J
J
L a C r o s s e * D 1 s t 5 s . . ..1 9 1 9
M i n e r a l P o i n t D i v 5 s ____ 1 9 1 0 J - J
S o M i n n D i v 1 s t 6 s ............1 9 1 0 J - J
S o u t h w e s t D i v 1 s t 6 s ____ 1 9 0 9 J - J
J
W l a & M i n n D l v g 5 s ____1 9 2 1
M U * N o 1 s t M L 6 s . . ..1 9 1 0 J -D
D
1 s t c o n s o l 6 s ....................... 1 9 1 3
-F
O h i o * N o r t h w c o n s 7 s ____ 1 9 1 5
A
E x t e n s i o n 4 s ............1 8 8 6 - 1 9 2 6
R e g i s t e r e d ..............1 8 8 6 - 1 9 2 6 E - A
G e n e r a l g o l d 3 * 2 8 .................1 9 8 7 M -N
R e g i s t e r e d ...................... p i 9 8 7 Q -E
S in k in g fu n d 6 s . . .1 8 7 9 -1 9 2 9 A -O
R e g i s t e r e d ..............1 8 7 9 - 1 9 2 9 A - O
S in k in g iu n d 5 s . . .1 8 7 9 -1 9 2 9 A -O
R e g i s t e r e d ..............1 8 7 9 - 1 9 2 9 A - O
D e b e n t u r e o s ......................... 1 9 0 9 M -N
R e g i s t e r e d ........................... 1 9 0 9 M -N
D e b e n t u r e 5 s . ....................... 1 9 2 1 A - 0
R e g i s t e r e d ........................... 1 9 2 1 A - 0
S i n k i n g f u n d d e b 5 s ......... 1 9 3 3 M -N
R e g i s t e r e d ........................... 1 9 3 3 M -N
N o r t h I l l i n o i s l a t 5 s ____1 9 1 0 M -S
O t t O E * S t P a u l 1 s t 5 s 1 9 0 9 M -S
M U L S * W e s t Lat g b s 1 9 2 1 M -N
E x t * I m p s f u n d g 58 1 9 2 9 F -A
A s h la n d D i v 1 s t g 6 s . . 1 9 2 5 M -S
M i c h D l v 1 s t g 6 s ............1 9 2 4 J - J
i n c o m e s ....................
1 9 1 1 M -N
O h io R o c k l s l * P a o 6 s . . I l 9 1 7 J - J
R e g i s t e r e d ..........................1 9 1 7 J - J
G e n e r a l g o l d 4 s ..................... 1 9 8 8
J
R e g i s t e r e d ............................1 9 8 8
J
R e f u n d i n g g 4 s ...................1 9 3 4 A - 0
C o U t r u s t S e r i e s H 4 a . . 1 9 1 0 M -N
J 4 s ...........................................1 0 1 2 M -N
M 4 s .......................................... 1 9 1 6 M -N
N 4 s .......................................... 1 9 1 6 M -N
0 4 s ............................................1 9 1 7 M -N
P 4 s ...........................................1 9 1 8 M -N
C h i c R I * P a o R R 4 s . . 2 0 0 2 M -N
R e g i s t e r e d ...........................2 0 0 2 M N
C o l l t r u s t g o l d 6 s ............1 9 1 3 M -S
B u r C ed R * N orth ern —
C on 1 s t * c o l t r g 6s . . . 1931 A -0
R e g i s t e r e d ....................... 1 9 8 4 A - 0
C R I E A N W ls t g u o s .1 9 2 1 A -0
M * S t L 1 s t g u g 7 s . .1 9 2 7 J -D
3-
Hange
Since
Jantiary 1
Wr.e/c‘ 3
H a n y e or
L a s t S a te
S id
ask
63
S a le
50
..........
60
..........
90
......... ..
105
..
1 0 0 *2 . .
1 0 7 * 2 ..
Lout
J-lly/i
03
63
6 2 *i N o v ’ Ob
41
N o v ’ Oe
S O ^ E e b ’ Ub
1 0 4 ’ 8 J ’ffe 0 8
115
N o v ’ Oo
105
D e c ’07
1U 3 *2 N o v ’ 0 8
130*4
1 2 9 % 1 3 0 % 1 29 *4
124*4 N o v ’ 0 8
l2 7 * a ...
111
N o v ’08
I ll
...
1 0 4 % ...
101
O c t ’ Ob
9 9 * 2 ...
100*8
1 0 0 *,
1 0 0 *8 . .
97
...
............
82*2
Low H ig h
44
63
27
67
27
41
89% 89%
1 0 0 % lU 4 %
92
L 17
120%
107
106*2
130*4
124*,
111
98
101
98*2 1 0 1
88 May’07
105 Sep.’OS
115*2 116*2
101 >2 Deo *07
106
107*,
104 May’Ob
90
90 *s,
l^ s a m
112. Eeb’Ob
100 i'oT 100*4 100*2
96*2........ 93 *2J’ly ’08
107
.......... 113*4 Eeb’06
95
.........
95 Sep ’08
7 b % ...........
78*4
78%
77
77
77
s a le
80*8Mny’05
1 0 0 0 , i o f * ; 10U*2 Nov’Ob
1 0 1 34 s i d e
101% 1 0 1 ’,
93
93*s
9 3 *8 S a le
1 0 2 * 4 ...
1 1 5 * 2 ...
........... 1 1 4 * 2
1 06 *, s a le
102
105%
107*2 110*2
9b
107*4
8 9 *4 " 9*2 %
91*2 101
89
93%
9 5 " "9 6 * "
b 7 34 7 8 %
bo
773 4
9i<>, 92^ 8
103*>4 S a le
107
...........
100
100*2
100*»4 1 0 1 * 2
1 0 0 * 4 ...
9 5 * 2 ...
1033, 103
104*, Oct ’Ob
100*4 Nov’Ob
101 Deo’08
101% UOt ’08
90 OCt ’07
97
97
86
86*4
97%
104*,
96
98*8
101%
100%
101*4
93%
913,
103%
106
101
102*2
101%
102
............
U )6
106
8 6 **, 8 7 * i
1 2 8 * 2 .........
1 1 5 *2 S a le
1 1 2 * 2 .........
1 1 2 = 8 ..........
1 0 1 3 , N o v ’0 8
97%
105
105
104%
87*2 D e o ’ 08
82%
122
A u g ’08
122
116*2
115*4
13 1 0 6 %
1 1 8 *a E e b ’ Ob
107
J ’l y ’ 0 8 . . .
iu f"
103%
106%
8 7 s,
122
116%
9 13 4D eC ’0b
1 3 0 % N o v ’ Ob
109°8....... 1 0 8 » e p ’ 0 8
1 04 % N o v ’08
1 0 2 ° 8 .........
1 0 6 * 8 ........... 1 0 4 *, S e p ’ 0 8
104*4
104
104*2 1 0 4 * ,
1 0 3 *2 O c t ’ 0 8
101
..
92
92
9 ^ . .
1 16 % O ct ’l
H I
..
112
S o p ’( _
114
..
1 0 4 * 4 ........... 1 0 4 %
104S
66
N o v ’ Oi
l l l ^ i 1 U 78 1 1 1
1O8
107-*4 108*2 1 0 8
1
3
7
*2
J
’
l
y
'9*.
1 2 3 3 4 ......... ..
1............................
05*, D e c ’ oa
1 0 5
l o l * , A p r ’ Ub
102=8
1 0 9 ’ a ........... 1 0 9 % N o v 0 8
103*8 103*2 1 0 2 % O C t ’ 0 8
1043a
104%
104%
2u
103*,
103%
1 0 3 * 4 ..
N o v '0 8
111*2
' 111
1 0 2 * 4 H I " 1 0 5 * 4 N o v ’ Ob
107%
1 0 7 -2 ,
107*2...
116*4 117 1 1 6 * 4 N o v ’ Ob
99
J ’ n e ’ Oa
lOO*, 105
98 % A p r ’08
.........105
......... 95*4 9 6 * 2 N o v ’ Oa
89
m u g’bb
111*2 M a y ’ 0 8
H I
.I I
UU
A u g ’ Oo
110
.
1 0 9 % 1 0 9 ’ , 109*2 J ’ l y ’ 0 8
104
N o v ’ l>7
1 0 5 *2
to i* 2 N o v ’oa
............i o T * I
100*4
lu O * *
1 o o 34 s a l e
108
108
103
J ’u e ’o7
111® , N o v ’ 0 8
110*2 1 1 3
109
J ’ly ’ o s
IO 2 " " I "
lOl3, Aiay’ue
101
OCt ’08
101
.
119
120*2 1 19*2 D e c ’ 0 8
1 14 3 4 n o ^ 1 13 *4 j ’ l y ’ Ob
1 4 2 % E e b '0 2
1 2 3 *a
124
'
' 1 2 8 *2 E e b ’ O b
09
s o p ’03
101
.....I
.1 0
110
16
110
S a le
1 1 2 >2 J ’ l y ’ 0 8
1U*4
1 00 % 101% 100%
16
101*4
9 6 ‘ i M a y ’ Ob
9 7 *2 . .
89*2
90
0 9 ’ 8 S a le
97
J ’ l y ’ 04
9 1 * 4 ........... 9 2 * 2 N o v ’ Ob
90*4 J a u ’ 07
93
M a y ’ 04
90
N o v ’08
84
A ug’Oi
7 5*4
76
15 *4 S a le
4. 8 0
65
A u g ’08 ...
85*2
8 0 * » 191
80
S a le
130*2 1 3 1
aoi
N o v ’0 8
1 14 *2 110*2 1 1 6
120*2 M a r ’ 0 3
N o v ’05
1 0 5 * 4 ........... 1 1 1
1 2 3 * 2 ...........
109*4*
117%
106
100
103%
100
103 %
86%
130%
108
104%
106
104%
1 0 3 *2
95
1,10
1.04
lu 8 %
L01%
112
104**
i l l %
108
ib*2%i*0*5%
1 0 1 % 101 .*,
106*, 1 0 9 %
100% 102%
100% 104%
101
103%
08
111
106*8 1 0 5 %
1U 7% 1 1 0 %
15% 118%
99
99
9 8 % H b*,
89
9b
89
89
107% 111%
1 08 % 110
108
109%
10*6%ib"I*4
9 0 * 2 1 01 *2
106
108*4
108 %
07
101*4
101
18
110
113%
1U9
1U1*4
lo i%
119%
113%
112
110%
12% 115
91
101%
9 b % 97
83%
90
9U
90
0 6*4
02%
59%
7b %
05
86%
106
116%
lUlMCELLANEOIJS BOND:->—Continued on Next 1’ aire.
S t r e e t K n ilw a y
B r o o k l y n R a p T r g 6 s ..........1 9 4 5
1 s t r e f u n d c o n v g 4 s . . .2 0 0 2
B k C i t v 1 s t c o n 5 s . 1 9 1 6 .1 9 4 1
B k c jC o & S c o n g u g 5 s .l9 4 l
B k ly n U n f it l s t g 4 -5 s .l9 5 b
S ta m p ed g u a r 4 - 5 s . „ . I9 6 0
K i n g s C o E l 1 s t g 4 s ____ 1 9 4 9
S t a m p e d g u a r 4 s ........... 1 9 4 9
N a s s a u E l e o g u g 4 s ____ 1 9 6 1
C o n n R y < & L b u t r e f g 4 % a '5 1
S t a m p e d g u a r 4 % s ........... 1 9 5 1
U ) e u C o n ' l ’r C o 1 s t g 5 s . . . 1 9 3 3
| D e t U n i t e d 1 s t c o n a 4 % 8 .1 9 3 2
'H a v a n a E l e c c o n s o l g 5 3 . 1 9 5 2
I n t e r - M e t c o l l 4 % s ................. 1 9 5 b
I n t e r R a p T 3 -y r c o n v 6s . 1911
li n t e r u a t l ’r a o c o l l t r 4 s . .1 9 4 9
M a n i l a E l e o 1 s t <fo c o l l 5 s . 1 9 5 3
A -O
J -J
J -J
M -N
F -A
F -A
E -A
E -A
J -J
J -J
J -J
A -O
J -J
F -A
A -0
M -N
J -J
M -S
102
8 2 % S a le
104
S a le
«........... 9 3
101*4 S a le
86
85
79
101
101
......
81
90
79
102 *4
68%
79*,
......
8 2 ’^
S a le
S a le
......
............ ..........I
* N o p r i c e E r n ia y ; l a t e s t p r ic e t h i s w e e k .
S a le
101
79
104
91
101*4
100%
81%
86
7 9»,
95
100 %
96
80
86
74%
102 %
08
98
<*Due J a a
N ov*08
82%
104
O ct ’08
102%
N o v ’ Ob
S e p ’ 08
85
82
M a r’08
O ct ’08
J ’ n e ’ OO
80
O ot ’08
79%
1 0 2 *,
N o v ’ Ob
M ay’ 06
1177
2
...
2 i
....
2
....
....
___
v
91
06%
99%
92%
93%
98
81%
77
75
95
93%
102
82%
104
92%
102%
102%
81%
86
82
95
100%
69
83*'
86
94
49%
70%
100
102*4
60
08
m s
23b
....
. . . . .........................
J D ae A pr
S tr e e t R a ilw a y
M e t S t R y g e n c o l t r g o s .1 9 9 7
K e f g 4 s ..................................... 2 0 0 2
B w ay<& 7 th A v l s t c g o s 1 94 3
C ol & 9 th A v 1 s t g u g o s . 1993
L e x A V tfo P E 1 s t g u g 5 s 1 9 9 3
T h ir d A v e R R c o n g u 4 s 2 0 0 0
C e n t T r C o c e r tfa s t in p d ...
T h ir d A v e R y 1 s t g 6 s . . 1 93 7
M e t W S E l (O h io ) l s t g 4 8 . 1 9 3 8
N O r l R y <fe L t g e n 4 % s . . 1 9 3 5
S t J o s R y L t H <fc P l s t g 5 s >37
S t P a u l C i t y C a b c o n g G s .1 9 3 7
U n d e rg ro u n d o f L o n 5 s ... 1920
4 % s ............................................... 1 9 3 3
I n c o m e 6 s ................................ 1 9 4 8
U n io n E l (C h lo ) 1 s t g 6 s . .1 9 4 6
U n it e d R R s S a n E r s f 4 s . 1 9 2 7
U n ite d R y s S t L l s t g 4 s . 193 4
eD u e M a y aDu e . i ’n e
a D a e t ’iy
E -A
A -0
J -D
M -S
M -S
J -J
j '- J
F -A
J -J
M -N
J *J
M -N
J -J
A -0
A -0
J -J
kD u e . v u g
85
65%
98
98
97
6 6 *,
66
109
S a le
84
85
62
60
63
...........
9 7 34 D e o ’ 0 8
S a le
98
98
100
96
D eo 08
S a le
65%
67
S a le
64%
66
110
108*,
109
93 % J ’ l y ’ 06
............
9 0 % Sep ’06
............
98
N o v ’ Ob
. . . . . . . . . . . . 1 1 0 % N o v ’ Ob
..............
40
A u g ’08
7 2 % S a le
71%
73
2 1 *., S a le
21%
22
81
OCt ’0 8
7 - i " S a le "
73
7 4 *,
* 3 % ...........
83
D e c ’ OS
o D u o vase
p D iie .\o v
11
14
"2 0
"4 8
109
10
85
68
40
63
93
102
99
05
98
96
49% 67
66
50
109
1 01
......... . . . . .
1*8
08
.....
"4 0 * * 4 1 '
73
70
' 14
23
20
6b
101
84
59
75
1 35
76
85
....
s O iH io n •'ale
Dec. 12 1908.]
H ew
I J l»> I t "
N . Y. STOCK E X C H A N G E
. W e e k E n d i n g D e o 11
^ IS
Y ork
/- r i c e
b r ia a y
b e e 11
Bond
W e e k 's
L a n g e or
L a ft b a l e
R ecord—
P eo*
C le v *
E a st 1 st co n 4 s ...1 9 4 0
M a r ie tta
C ol & T ol
95
A -0
V|»i
60
J J
F A
M -N
90 '
ov’08
50
85
35
21
94*2
63
b ee P e n n K it
7 8 t j S a le
75*4
90*.
88
78*2 o r
90*4 w o
9 0 * s 1351
5 5 *0
7 ft ^
73
9 0 *«
bee H o c k V a l
A o
j . j
1 J a lia s & W a c o bee M K *
D e lD a c k * W estern —
K G r 1 st c o n g 4 8 .1 9 3 0
bee D o b *
98*2
io i
1 0 UH»
9 0 *a S a le
78
85
8 9 **
87
A p r ’ 08
A -0
E r ie l s t 7 s . . l 9 l o J -D
M -N
92
114*2
1 1 4 *2
1 2 0 *8 N o v ’ o 8
127
J ’ n e '0 5
126
112
100*4
102
121*2
140
101*2
103*2
103*4
98*.
129
N ov’08
O c t ’0 8
N o v ’ 08
F e b ’03
A p r ’ Ob
A ug’Ol
102*2
104
1<>3*4
99 S
N o v ’08
97
103*4
1 UO
08
70
85
95*8
78
07
98
1 9 3 *4
100
F e b ’08
D e c ’05
M aPO b
9 6 *e
N o v ’08
J a n ’ 02
91
84
N o v ’08
114
114
l O O t j i i d r ’ OS
109*2
108
107
106*2 M a y ’ 0 8
88S
7 ‘J
0 7*4
1 1 2 «g
115*4
110
io7
114D n s o ,
1 1 8 *« 1 2 0 *.,
1 2 1 ** 1 2 3
51
67
1
99
9 8*4
94*2
96
91*4
128*2
1 02 *4
104
io m
99*2
129
51
3
89
98
98H .
1 03 *4
97
9 8 '
H5
83*2
70
ft 5
9 6H .
78
6
80
10 6 * .
128 ’
118
100
100
1 0 7 7e 1 0 9
106*2 106*2
99
1 0 1 *2
93*4
104
98
117
120
80
79
55
G e n E l e c t r i c d e h g 3 *2 8 . . 1 9 4 ' - K A
i o - y r g d e b 5 s ........................ 1 9 1 7 J - D
G r B a p G D C o 1 s t g 6 s . . . 1 9 1 5 F -A
M -N
A-CJ
1
106 *4
98*2
D e o ’08
121
S e p ’ 06
D e o ’ 08
106
F e b ’08 . . .. 100
j
.j
106*4
128
106
100
102
137
99
102
05
84
S a lt
1 06 *4
1 0 5 >2
1 47 4
147*2
03
63
100*2
109
1 0 2 H N o v 'O f
9 8 * 8 8 e p ’ Oi
96
M a r ’ Ob
83*4
136**
1 07 *4
102
99
N o v ’ Of
137
D e o ’ Ol
J ’ l y ’ Ob
D e c ’ 00
.........
88
S e p ’ 08
* N o id 'io o F r id a y ; l a t e s t m u w i i a a a o d t i n s w e e k . a U u a J u
E r ie — (C o n )
a Y S ir s & W 1 s t r e f 5 8 . 1 9 3 7
2 d g o l d 4 *2 -s.........................1 9 3 7
G e n e r a l g o l d 5 s ................ 1 9 4 9
T e r m in a l 1 s t goH l 5 s . ..1 9 4 3
K e g ia $ 5 ,0 0 0 e a c h . ..1 9 4 3
M id U K o f N J l s t g O s . 1 9 1 0
W l l k A> E a 1 s t g u g a s . 1 9 4 2
ifiv ifc I n d l s t c o n g u g O s . . 1 9 2 0
E r i e <fc P i t t s b e e P e n n C o
E v a n s * T H 1 s t c o n s O s .1 921
1 s t g e n e r a l g o l d 5 s ............1 9 4 2
M t V e r n o n 1 s t g o ld 6 s . . 1 9 2 3
S a i l C o B r a n c h 1 s t g 6 s . 1 9 3 */
L ’ a r g o 35 S o b e e C h M ifc S t P
1 lin t * P ere M
bee P e r e M a r
F la C A P e m n b e e S e a A i r D i n e
F o r t S t U D C o 1 s t g 4 * 2 8 .1 9 4 1
F t W & D e n G l e t g 6 s . . ..1 9 2 1
F t W <fe l i i o G r 1 s t g 4 s . . . 1 9 2 8
/ ’ al H ar & 8 A
bee S o P a c C o
' T a l H * H o f 1 8 8 2 1 s t 5 S .1 9 1 3
G e o r g i a «fe A l a
b ee S e a A D in e
.G a C a r iS iN o r
bee S e a A D u e
G e o r g ia P a c ific bee S o K y
G ila V G A N o r
Nee S o P a c C o
G o u v ife O s w e g a t b e e N Y C e m
G r a n d K a p < & I n d Nee P e n n H K
G ra y’s P t T erm
bee S t D S W
G t N o r — C B ifc t ^ c o l l t r 4 s 1 9 2 1
R e g t s t e r e i l . A , ........................ 1 9 2 1
G r e e n b r ie r K y
b e e G il e s ifc O
G u lf & s 11 s t r e f * t g 5 s 5 1 9 52
| 1 an & S t J o
b e e C l i 3b Q
* 1 o u s a t o n i o b e e N Y N H <fe 11
H o c k V a l ls t c o n s o lg 4 * 3 S .1 9 9 h
K o g i s t e r e d ...............................1 9 9 9
C o l «fe H V 1 s t e x t g 4 s . , 1 9 4 b
.
H oust E & W T ex
bee S o P a c
H o u s t <fc T o x C o n S ee S o P a c C o
| L li n o is C e n t r a l 1 s t g 4 s . . 1 9 6 1
1
K e g l s t e r e d .......................... 1 9 6 1
1 s t r e f 4 s ( w h e n i s s ) ____1 9 0 .r
1 s t g o l u J ’-iS...........................1 9 0 1
K e g l s t e r e d ...........................1 9 5 1
E x t e n d e d 1 s t g 3 * 2 8 ......... 1 9 5 1
1 s t g o l d 3 s s t e r l i n g ............1 9 5 1
C o l l T r u s t g o l d 4 s ..............1 9 6 2
K e g l s t e r e d ...........................1 9 5 2
D N O A T e x g o ld 4 s ...1 9 5 3
K e g l s t e r e d .......................... 1 9 5 3
C a i r o B r i d g e g o l d 4 s ____1 9 6 9
D o u i s v D i v & T e r m g 3 *2 8 .1 9 5 3
M i d d l e D i v r e g o s ..............1 9 2 1
O m a h a D i v 1 s t g 3 s ......... 1 9 6 1
S t D o u is D iv J b t e r in g 3 s .l 9 5 1
K e g l s t e r e d ...........................1 9 6 1
G o l d 3 *28.............................1 9 5 1
K e g l s t e r e d ...................... 1 9 5 1
S p r i n g D i v 1 s t g 3 *2 8 . . . 1 9 5 1
W e s t e r n J u n e s 1 s t g 4 s . .1 9 5 1
l l e l l e v 3b C a r 1 s t 6 s ......... 1 9 2 3
C a r b & S h a w 1 s t g 4 s ...1 9 3 2
C h ic S t D & N O g 6 s . . .1 9 5 1
K e g i s t e r e d ...........................1 9 5 1
G o l d 3 * 2 8 ............................... 1 9 5 1
M e in p h D lv 1 s t g 4 s . . . 1951
S t D S o u 1 s t g u g '4 s ____1 9 3 1
I n d B13b W e s t N « « C C C < fe S t D
i n d 111 ife l a 1 s t g 4 s ............1 9 5 0
t n t <fe G r e a t N o r 1 s t g 6 s . . 1 9 1 9
2 d g o l d 5 s ................................. 1 9 0 9
3 d g o l d 4 s ................................. 1 9 2 1
I o w a C e n t r a l 1 s t g o ld 6 s . .1 9 3 8
G o l d 4 s ........................................1 9 5 1
J e ll e r s o n K K
b ee E r ie
1/ i l l A & G K b e e D S & M s
I V a n 3b M i c h
b e e T o l 3b O C
K O F tS & M
bee S t D & S F
K C 3b M K & B
b e e S t D <fe S F
K a n C & P a e i f i o b e e M K 3fc i
K a n C it y S o u 1 s t g o ld 3 s . .I 9 6 0
K e g l s t e r e d ............................... I 9 6 0
K e n t u c k y C e n t b e e D 3b N
K e o k <fc D e s M o
b e e C K life P
K n o x v i l l e 3b O h i o b e e S o K y
l a k e E r i e 3b W 1 s t g 6 s . . 1 9 3 7
1-J 2 d g o l d 6 s .............................1 9 4 1
N o r t h O h io 1 s t g u g 5 s . .1 9 4 6
D S h o 3b i l i c h S b e e N Y C e n t
D e h V a l N Y 1 s t g u g 4 *2 8 . 1 9 4 0
E o g i s t o r o d ............................... I 9 4 u
D o h ig li V a l (P a ) c o n s g 4 s . 2 0 0 3
D en V T e r K y 1 s t g u g o a .1 9 4 1
K o g i s t e r e t l ...............................1 9 4 1
D eh V C oa l C o 1 st g u g 6 s . 1933
L e h 3b N 1' 1 s t g u a r g 4 s . . 1 9 4 5
K e g l s t e r e d ............................... 1 9 4 6
E l C 3b N 1 s t p t 6 s ......... 1 9 1 4
G o l d g u a r 6 s ...................... 1 9 1 4
D e h 3b W l l k e s b N < « O e n t o f N J
D e ro y & C a n e y V a l bee M o P
D oug D ock
bee E r ie
D o n g I s l ’ d — 1 s t c o n g 5 S .A 1 9 3 1
1 s t c o n s o l g o l d 4 s ........... A 1 9 3 1
G e n e r a l g o l d 4 s .................... 1 9 3 8
F e r r y g o l d 4 *2s .................... 1 9 2 2
G o l d 4 s ....................................... 1 9 3 2
U u i l l e d g o l d 4 s ....................1 9 4 9
D e b e n t u r e g o l d 5 s ..............1 9 3 4
G u a r r e f g o i d 4 s . . . ...........1 9 4 6
B k l y n 3b M o n t l s t g O s . .1 9 1 1
1 s t 5 s ....................................... 1 9 1 1
N Y B 3b 51 K 1 s t c o n g o s 1 9 3 o
N Y 3b K B 1 s t g 6 s ......... 1 9 2 7
N o r S liB ls t c o n g g u o s o l9 3 2
L o u i s i a n a 3s A r k 1 s t g 6 8 . 1 9 2 7
2
15251
Hrxce
h r id a y
D ec U
B ta
A sk
j .j
103*2 . . . . . .
F -A
(F -A
M -N
113
...........
M -N
A -O . 1.02 * 2 ...........
J-11 1 0 2
...........
J -J
I ll
...........
J -J
A -O
A -0
A -0
J .J
J -D
J -J
~ -o
Low
H ig /i
105
S e p ’ 08
100 *4 D e o ’ 0 3
9 5 *2 N o v ’ Op
1 1 2 *2 N o v ’ OS
103
103
102
O c t ’ 08
110 *4 A u g ’ OS
11
114
112
.T a n ’ OS
lo o * * i o i "
1 0 2 >2 J ’ l y ’ 0 8
102
114
A p r ’0 5
9 8 * 2 ...........
95
J ’n e ’08
87
105
114
87
.
A -0
J -J
Ci-J
Ji (€ K %$
L a n g e or
L a M b a le
M ar*9 9 . . . .
D e c ’ OS
88
T o
96
99
S a le
J -J
........... 1 0 0
J -J
J .J
A -O
F -A
1 0 7 H S a le
96
101
98*s
S e p ’0 8
Lanae
S in e s
Jan uary 1
Low
105
H ig M
105
89
110
9 5 *i
113
101
100
10‘3
103
102
113*4
112
96
112
103
95
95
104
74
96
A -O
A -O
98
101
108
115
87
30
40
103*2110
7 9 7a S a le
92*4 1 0 0
9 2 *2 9 8
95
95
O ct ’ Os
107 4
107 4
l o o *2 S e p ’ o s
96
D e c ’ Ob
90
J ’l y ’ 08
16
95
108
85
00
1 1 2 *2
70*a
56
J .J
J .J
A -O
114*2
114*2
114*2116
1 0 3 S . 1 0 5 H 1 0 3 V, N o v ’ Ob
110
D e o ’08
b
J -J
J -J
.Wl-Is
A -O
A -O
j .j
M -S
M -S
A -0
A -0
1 0 3 * 8 1 0 9 * * 109*4 N o v ’ 0 8
108
O ct ’08
93H J ’ n e’08
117
......... 1 1 7 >2 S e p ’ Ob
11 fi Wj
109*2 o c t ’ 9 9
109
........... 1 0 7 * 2 J ’ l y ’ b e
97
M a y ’ 08
95
.........
73*2
1 U2
...........
9 9 4 ...........
q .j
...........
103
O -J
9 7 4 ...........
J -D
9 6 " .........
M -S
1 0 1 *2 S a l e
J -D
89
____
M -S
94
96
J - D * ...........1 04 *2
M -S
9 7 *2 S a l e
M -S
1 0 2 * 8 ...........
.M -S
1 01 4 . . .
A -O
105
...........
M -S
101
...........
(J -J
102
...........
M -S
........... 1 0 0
73
03
95
9 8*2 107*4
1 00 *2 1 0 0 4
90
96
96
96
103*2
100
98«fe
91*4
102
102
90*4
79
89*2
100
117
100
98
A p r ’08 ...
95
95
N o v ’ 0 8 ____ 1 0 1
110
N o v ’ Ob
70
90*2
O c t ’ 07
N o v ’ Ub
106*4 l i i * *
7 9 7b 3 b
70
7 9 7«
73*4
O c t ’ Ou
73
96
98
9 9 V , 1 54
9 7*4 N o v ’ Ob
101
J -J
2 102
1 0 2 * 4 ........... 1 0 1
J -J
107*8 A p r ’ 0 7
101
.
A1-N
9 9*4
100
99*,
200
........... 1 0 0
j .j
93*8 D e c ’ 0 8
91*4
j .j
9 1*4 A u g ’0 8
9 1* 4
92
A -0
89
N o v ’07
91
M -S
70
O c t ’04
A -O
101
D e o ’08
97
9 9 Wj
A -O
98
M a y ’ oV
M -N * ........... i 0 2
102
S e p ’ 08
98*4
M -N
97
M a y ’07
J -D
1 02 *4 J a n ’ 0 7
99
J .j
85
F -A
123
M ay’99
103
ff-A
7 8 * 2 A p r ’ OO
78
...........
J .J
79
79
70*4
79
...........
14
J -J
J -J
8 9 *2 O c t ’ 0 8
90
79*2
J -J
1 0 1 *s O c t ’ 9 9
87**
J -J
100
N o v ’ OO
H93*
F -A
9 7*4 A u g ’ 0 7
1 **0 * 4 ...........
J -L> I u 9
D e c ’ 05
........... 1 2 2
M -S
97
S e p '0 8
97
9 8 * 2 ...........
J -D
O c t ’08
112*2
1 1 7 * 2 ........... 1 1 7
J -D
1 19 *4 M a r ’ 0 4
J -D
88*4 F e b ’ 0 7
J -D
100
M a r ’0 8
100
-U -S
98
J ’ l y ’ Ob
98
J -J
il-N
M -S
M -S
J *1)
M -S
i i s a4
88
69
74
106*2114*2
100
103 4
105
110 "
102H 1 09 ^
103
103
87*2 95
108
117*2
106
1 0 7 *4
95*2 97
1 1 3 7e J a n ’ 0 0
111
D e c ’08
105
9 4 *2 D e c ’ 0 6
102
D e c ’08
94*2 D e c ’ 0 8
104*2
104 S
97*2
97*2
101*8
1 1 0 *4
105
109
98
N
A
N
A
112*9
33H
97*2
1 01
102
4
5
101*8
o v ’00
p r ’ 07
o v ’ OO
p r ’08 . . ..
81
94*2
104*2104*2
90
98
1 0 0 * 4 1 0 1 «8
98
98
l i U M i s — C o iit m u e il o il X e x t P a g e .
2
92*2
10 1 1 9
1 54
40 1 0 3
93*2
98® *
96
107
is o
63
169
1 02 *4
98**
98
79
8 3 ‘h
4ti 1 00 *2 1 3 7
...................
1 01 *2 1 0 2
103
83
tU u
3*3
N. Y. STOCK E X C H A N G E
W e e k E n d i n g D e c 11
G a s m id E l e c t r i c
105*3100
149*4
oi
109
1 0 2 *4 1 0 3
102
110
E d E l 11 K k n 1 s t e o n g 4 s 1931
105
1 0 4 H>
100*.,
1 06 *2
98
1 25 *..
121
90
79
78*2
0 7*4 8 7 °e
43
80 H
40
70 '
115
118
1 08 *4 1 1 5 H
■ U lS O lih E lM iO U s
t in s a n d E le c t r ic E ig h t
J -D
D k t y u U G a s 1 s t c o n g 5 s . 1 9 4 5 M -N
C o u v d o u e n O s ...................... l O o t M - S
A -C
C o u s o i G a s c o u v d e h O s ____1 9 0 9 J -J
D e t r o i t C i t y G a s g 5 s ............1 9 2 3 J -J
F -A
E d K 111 b e e A Y U * E D l i * l
M -S
89*2
7 7*4 8 4
116
1 1 0 ‘2
1 06 *2 1 0 6 * 2
****
9 9 H M ay’08
1 0 4 H> A p r ’ 0 8
00
M a r’08
1 0 6 < * N o v ’ Ob
98
OCl ’08
125
1 2 5 Hi
121
O c t ’ Op
89H
89*2 29
79
J a n 'O b
S alt74H
70
98
8 6 *2 F e b ’ 0 7
8 7 *<i 8 6 * 2
87^
25
S a le
78
79
87
Ob H 2 5 b
s a le
115
A u g ’ OS
116 4
lib 's
4
L o n g D ock c o n s o l g 0 s . . l 9 3 5 A O ♦ 1 2 6 *4
M -N
J -J
108*2
N Y * G reen D gu g 5 s .l9 4 ( M N
ib is
91
116*2 1 2 6
1 0 8 * 8 1 1 2 *4
9 7 H 102 '
A Ia r’ 0 8
100
105 *4
102*8
1 05 *4
95
1 25 *4 1 2 6
125
8 9 °»
7 5 A.
i
n o
s o p ’ 04
02
M ar*o7
8 0 *s A u g ’ 0 8
84
115
N i
M -S
M -S
A O
J D
M -S
1 s t c o n s o l g f u n d 7 s ......... 1 0 2 0 M -S
E r i e 1 s t c o i l g 4 s p r i o r . . 1 9 9 0 J -J
J .J
J -J
J .J
F A
B u ll N Y *
1 U H S a le
U 7*«
1 1 6 Hi
9 3 *»
1 2 1 * 4 1 2 3 V,
113
1 0 0 V(
91
1 2 2 >4
120
101*4
10 4
S a le
1 0 3 14 Salta
99
S a le
129
J .J
J -J
K i o G r J u n o 1 s t g u g 5 s . 1 9 3 9 J -D
J .J
J J
B i o G r W e s t 1 s t g 4 s ____ 1 9 3 9 J J
M g e a n d c o l t r u s t 4 s A .1 9 4 9 A 0
A -O
D e s A lo t * F t D
b e e JV1 ,te S t i .
Ai IN*
D e t * M a c k 1 s t lie n g 4 s . 1 9 9 0 J -D
G o l d 4 s ........................................1 9 9 5 J - D
D e tro it S o u th e r n —
O h i o S o u l n v 1 s t g 4 s . . . 1 9 4 1 M -S
A -O
A O
2 d l i s ............................................1 9 1 0 j . j
D u l S h o r t D in e b e t N o r P a c
j .j
l J a s t , o i M i n n b e e jJ 't P M * A1
l J a s t T e n V a * G a bee s o B y
E lm C o r t A K o
91
1
Vl-N
J -D
J -I )
J -D
N Y D a c k & T v 1 s t 6 s . ..1 9 2 1 j . j
F -A
T e r m * I m p r o v e 4 s ____1 9 2 3 M -N
E -A
M S
M -S
M N
J -D
j . j
A -0
M-N
D onv*
96
N
05*e
I I D M l-
Lange
b in ee
Jan uary 1
But
H ig h N o IjO w H ig h
• O h io l t o c k i & P a c — ( C o n )
M i l Lena
102
A u g !0 8
1021*
102
1 0 4 *s
G h o o O k & G K e n k 5 s . 0 1 9 1 9 .T -J
1 07 *2 N o v ’ 0 8 ___ 1 0 7 * 2 1 0 9
C o n s o l g o l d 6 s .................. 1 9 5 2 M-N
106*2110
1 0 1 *2 S e p ’ 0 8
105
X e o k < * > D e s M 1 s t 5 s . . . .19211 A -O
9 8*4 1 0 1 * 2
O h io S H A K O
b e e 111 C e n t
O h io 8 t D * P it t s
bee P e n n C o
128*2
128*2
1271*
2 121
182O h io S t f M A O c o n O s ... 1 9 3 0 J .P
93
D e c ’ 03
91
J .l)
127*4 A u g ’ 0 8
127*8
O h S t P A M i n n l s t g O s 1 9 1 y M -N
124
127*4
129*4 M a r ’ 0 4
J .J
1 28 *4
N o v ’08
n o ’ * ii8 * g 117
S t P & S C ity 1 st R O s ... 1 91 9 A -0
il6 * iil7 * i
1 1 2 “*
113
C h i c * W e s t i n d g o n g Os <?1932 Q -M
112*8 114
7 112
113
97
* 99
99
5a le
39
91
99
C o n s o l 5 0 - y e a r 4 s ................1 9 5 2 J . J
C h i c * W M i d i bee P e r e M a rq
C h o c 0 & G u lf bee 0 l i I * P
1
1
3
O
c
t
’
0
0
J .J
102
J 'n e ’ 0 7
M-N * 9 5
M -N
70
A u g ’ 08
70
J J
70
70
91
A n g ’ 08
94
I n d D e o * W 1 s t g 5 s . . . 1 93 5 J .J
90
91
1 0 7 *2 D e c ’ 0 2
J J
0 1 S t D * O bee C O C * S t D
O ln S & O b e e O C C S t D
C l e a r h e l d * M a l i b e e 15 I t * 1'
9 7*4
98
98
S a le
C l e v C m C <& S t L p e n « 4 s 19\J3 j - n
21
92
99H
90
M ay’08
94
C a ir o D lv 1 s t g o ld 4 s . .. .1 9 3 9 j . j
98
96
96
9 7*-, 9 5 * 4 O c t ’ Ob
92
9 5 * 4 951 4
O ln W * M D i v 1 s t g 4 s . 1 9 9 1 j . j
90
90
90
8 t I, D l v 1 s t c o l t r g 4 s . .19911 M -N
3
90
96*4
97 S
91
O ct ’07
M-N
92
F o b ’ Ob
94
S p r * C o l D l v 1 s t g 4 s . . 1 9 4 0 M -S
92
92
98
S ep ’00
9 2 *4
W W V a l D lv 1 st g 4 s . . . J9 4 o J J
105
J a n ’ 04
103
C 1 S t D & C c o n s o l O s . . 1 9 2 0 Vl-N
9 9 *2 N o v ’ 0 8
99
95*4 99
97
O ct ’08
cS-F
97
97 '
o
110
n o
109
C m 8 <£ C l c o n 1 s t g 5 s . . 1 9 2 8 j . j
106*2 1 1 0
1 14 *4 S e p ’ OS
112
J -D
114
1 14 *4
JD
la b
N o v ’ Ob
1 2 7 H,
G e n e r a l c o n s o l g o ld O s. 1 934 j . j
120
IS O
J *J
94
j ’i y ’08
I n d B l * W ls t p r e t 4 s .1940 A -0 * 94
94
95
Continued— Page
i« b
111*2
90
E ig h t
K e f a m i e x t 1 s t g 5 s ......... 1 9 3 4
M i l w a u k e e G a s D 1 s t 4 s . .1 9 2 7
N Y G E D 11 3b P g 6 s . . . 1 9 4 8
P u r c h a s e m o n e y g 4 s . ..1 9 4 9
E d E l 111 1 s t c o u v g 6 s . . 1 9 1 0
1 s t c o n s o l g o l d 5 s ........... 1 9 9 5
N Y 3 b Q E l la fe p 1 st c o n g o s l9 3 U
N Y 3b K i c l i G a s 1 s t g o s . 1 9 2 1
P e o G a s 3b C 1 s t c o u g O s .1 9 4 3
K o t u u d i u g g o l d 6 s ..............1 9 4 7
C liG -D 3 b C k e ls t g u g 5 s 1937
C on G C o o l Ch ls t g u g 0 s .’3o
Q -F
A -0
M -N
J -D
F -A
M -S
J -J
F -A
M-N
M -S
A -0
M -S
J -J
J -D
-M-N
J -D
M -b
W e s t c h e s t e r D ig h t’ g g 6 s .l9 5 0 J -D
a u u e . i - p r « l ) m ..i » r » J u k j Ij
99
103
2
102*4
102*2
1 0 2 * 2 S a le
1 0 0 *4 N o v ’ 0 8
100*8 101
100*4 1 0 3
O ct ’08
89*2 9 5
92
93*4 9 5
i o l *2 1 0 2
13
88
104
75
88
85*4
8 0 S 121
8 6 * 8 S a le
98*2 1 30
1 0 1 * 8 1 0 1 * 8 1 0 1 *4 N o v ’ U8
D e c ’ Oh
107*2 112 *2
1 1 2 * 2 ........... 1 1 2
95
95
94
...........
3
89
95
D e c ’08
99
100**
........... 1 0 0 * 2 1 UU
9 7 *2 ...........
119
2 107*2 1 1 9
1 1 7 * 2 ........... 1 1 9
94
103^
1 0 3 7» ........... 1 03 *4 N o v ’ OS
105*,
98
105*t
1 0 6 34 S a l 6 1 0 6 * 4
95
103*4
1 0 1 * 2 ........... 1 0 3 * 4 O c t ’ 0 8
92
101
101
N o v ’ 08
101
103
95
...........
110
M a y ’ 05
103
J ’ l y ’ 0 8 . . . . 101*4 104
........... i o f
>: U u » a u |
j
U u« u c t
qD u o D M 4O p t i o n
S a i*
*5
Lonlsv & Nashv sen g 6s. 1930 J-D
Gold 5s.................................. 1937 M-N
Unified sold 4 s ..................1949 J -J
Kogis tered...................... 1940 J-J
Sink land gold Us.............. 1910 A -0
Coil trn it gold 5s_______ 1931 M-N
6-26-yr col tr deed g 4 s. 1923 A -0
E H * Nash 1st g 6 s . . . . 1919 J-D
L Oln ifc Lex gold 4 *2»--.1931 M-N
N O A M 1st gold 6s----- 1989 J-J
N O A M 2d gold 6s........1930 J-J
Pensacola Div gold u s.. . 1920 m - s
8t L Div 1st gold 6 s........ 1921 M-S
2d gold 3 s.........................1980 M-S
A tl K nox A Cin div 4 s ..1955 M-N
AU rv uox ■% Nor 1st a 5el94t: J
Hender B d g e ls t s r g 6 s .l9 3 1 M-S
Kontuoky Cent gold 4 s .. 1987 J-J
Life N A M A M 1st g 4 *231945 M-S
L A N-South M loint I s .195.2 J J
N Fla A » 1st tru g 5 s ... 1937 K-A
N A C Bdgegen gu g 4 4 s 1945 J-J
Pens A A tl 1st gu g 6 s .. 1921 F-A
S A N Ala con gu g 5s.. 1936 F-A
.j A Jell Huge Co gu g 4 s ..1945 M-S
L N A A Ch N'#« C 1 A L
I ahon Coal Sea L S A M S
By consol 4a. 1990 A -0
M Lanhattan
!
Registered.................. 1990 A-O
Stmpd tax exem pt.. 1999 A -0
M oK ’ pt A B V .sir# N X Cent
Mex Cent consol gold 4 s . . 1911 J-J
1st consoi income g 3s.e»1939 •fly
2d consoi income g 3 s ..<*293(1 J’ ly
Mex Internal 1st con g 4 s . 1977 M-S
Stamped guaranteed... .1977 M-S
Mex North 1st gold 6s___ 1910 J -D
M idi cen t Sea N X Cent
Mid ot N J Sea Erie
MU L S A W See Chic A N \V
Mil A North See Ch M A St P
Minn A St L 1st gold 7 s .. 1927 J-D
Iowa Ex 1st gold 7 s ........1909 J-D
Pacilic Ex 1st gold 6 s ...192 1 A -0
South W est Ex 1st g 7 s .1910 J-D
1st consol gold 5s............. 1934 M-N
1st and refund gold 4 s ..1949 M-S
Des M A F t D 1st gu 4 s . . . ’35 J-J
Minn A St L gu See B O H A N
M S t P A S S M c o n g 4 i n t g u ’ 38 J-J
M S S M A A 1st g 4 tutgu 1929 J-J
Minn Un See St P M A M
Mo Kan A Tex 1st g 4 s . ..1 9 9 0 J-D
2d gold 4 s .......................... 0x990 F-A
1st ext gold 5s.................. 1914 M-N
1st A refund 4 s ................ ‘■‘■g . M-S
Gen s f 4 4 8 ..................... 1939 J -J
St L Div 1st ref g 4 s-----2001 A-O
Dal A W a l s t g u g 5 s ...1 9 4 0 M-N
Kan C A Pao 1st g 4 s ... 1990 F-A
Mo 1< A E 1st gu g 5s. ..1 9 4 2 A -0
M K A Ok 1st gu 5 s........1942 M-N
M K A T o l T ls tg u g 6 s .l9 4 2 M-S
Slier Sh A So 1st gu g 5s. 1943 J-D
T e x A O k l a l s t g u g a s ...l 9 4 3 M-S
MoPacitlc 1 st cou g 6s ...1 9 2 0 M-N
Trust gold 5s stam ped.al917 M-S
K ogistered................... «1917 M-S
1st coll gold 5s................... 1920 F-A
40-year gold loan 4 s........1945 M-S
3d 7s extd at 4 % ................1938 M-N
Cent Br B y 1st gu g 4 s .1919 1! -A
Cen Branch U P 1st g 4 s . 1948 J-D
Leroy A C V A L 1st g 5s 1926 J-J
Pac B ol Mo 1st ex g 4 s .1938 F-A
2 d extended gold 5s. ..1 9 3 8 J-J
8t L Ir 51A Sgen con g 5sl931 A -0
Gen cou stamp gtdg 5s 1931 A -0
Unilied A ref gold 4 s ..1929 J-J
ltiv A G Div 1st g 4 s .. 1933 M-N
Verdi V I A W 1st g 58.1926 M-S
MobJ A K C lstc o n s gos.1953 J-J
Mob A Ohio now gold 6 s .. 1927 J-D
1st extension gold 6s..h 1927 0-J
General gold 4 s ................ 1938 M-S
Moutgom Div 1st g 6 s ..1947 F-A
8 t L A Cairo coU g 4 s ..#1930
Guaranteed g 4s........... 1931 f j
M A O coll 4s See Southern
Mohawk A Mai SeeH V C A 11
Monongaheia Blv See B A O
Mont Cent See St P M A 51
Morgan’ s La A T See 8 P Co
Morris A Essex See Del L A W
ash Chat A St L I s t 7 s .l9 1 3 J -J
1st consol gold 5 s ......... 1928 A -0
Jaspor Branch 1st g 6 s.. 1923 J-J
M cM 51 W A A1 1st 6 s . . 1917 J-J
T A P Branch 1st 6s___ 1917 J-J
Nash Flor A Shot See L A N
N atof M ex prior lien 4*28.1920 J-J
1st consol 4 s.......................1951 A-O
New H A D See N V N II A II
N J .1uuc B B See N Y Cent
Now A Cin Bdge See Lou A N
N * Bkln A 51 an Bell See L I
N X Cent A H ltiv g 3 ^ .1 9 9 7 J
Kogistered.......................1997 J
Dcben g 4 s.........................1934 M
Laae Shore collg 3*gs...1998 F
ltegistered.......................1998 F
Mich Cent coll g 3*2-8___ 1998 F
Kogistered.......................1998 F
Beech Creek l s t g u g 4 s . 1936 J
Kogistered.......................1936 J
2d gu gold 5 s................. 1936 J
Beeoli Cr Ext ls t g 3 *28 6195] A
Cart A Ad l s t g u g 4 s ... 1981 J
N
k n ee
fYiday
Dec 11
Week's
kanye or
Last sale
Ilia
Ash
116*4 120
114*2.......
102 Sale
9 9*2........
Lot*
Mig/i
120 N ot ’ 08
1107s J ’ ne’ 08
1017g 102
101 *8 J ’ l y ’06
105 J’ lie’Os
107 N ot ’ d S
105 . . . .
9H*a Deo'08
96*2 97
111 Nov’07
110
....
104 5Iar’t)8
105*2 . . . .
1 2 3* 2 .......... 122 Oct ’08
122*4 Mar‘ 06
115 . .
107*4 Aug’OO
109 ........ 117 May’07
62*9 Aug’07
63 ........
95 Sale
95
9
104 ........ 116 J ’l y ’06
108 *9 Jan ’06
9 7*4 N ov’08
100 D e c ’OS
100
..
87*4
87*,
i l 2*4 ! '. .. .. 1 12*4 N ov’OS
98 .........
109*4......... 113 J a n ’08
111 1187*07
112*2 1*3
......... 95*, 91*2 J a n ’ 08
98*9 .09*i
99 *a Sale
9 6*4........ 104 A p r’Oft
100*1.
1 0 0 ** 100*8
100
83
85
20
22*4
18
18
90®8 J’iy ’(»
80 F eb ’08
105 May'00
85
........
2 2 * 4 Sale
20*9 HI
127*9 Oct ’ 08
101 *4 Aug’OS
118 J a n ’O"
113*4 Mar’ 05
10678 D eo’06
84 H»
84 *2
97 A p r’06
123<>a 98*4 ■
107 106*2........
84*9 Halb
100
100
102
101
Oct ’08
J'ue’ 07
99*b
88
106 .
84 >9
89*4.
........ 87*9 8 6 D ec-08
103
Get
’08
104*4 . . . .
94 Si D eo’08
94
95
108 Oct ’08
109** . . . .
108*9 D eo’08
..........108
107*4------ 108 D e c’08 —
104 107*2 100*8 J’ne’08
108
108
106*8 ...
113 *2 D ec ’ 0 8
11 4 *9 ...
101*9 102*2 101 *2 N ov ’08
104S, Feb’07
103
101*4 104*8 103
4
79
707s 53b
79 Sale
95 Mar’ 08
91 ........
85 Feb'08
89
95
89 *4 Sop ’ 08
......... 93
110 Mar’ 05
99*4 Feb ’ 0 8
'99*4 I I " !
98*4
98 7# Sale
88
88
Sale
105*9 106*4 106*4
83*9 84*2 84
8 8 7b Sale
SS*B
1 11
111
Sale 111*8 111*8
110*9......... 1 1 0 O c t ’Oo
88*9 89*2 8 8 * 4 D ec ’ 0 8
89
89*8
89 *a Sale
107 *2 A p r’Ob
98 D ec’06
124 Nov 0 8
120
105*9 Jau ’t>8
117
88
D eo’08
86*9
112*8 NoVOb
110
75 Muy’OS
79
101 Nov’04
111*8
kanye
Since
January
Low H igh
112*8 120
110*9 1 1 0 78
95 102
105
102
88
105
107
90*4
ii>3*4 i o T
115*4 122
86
95
88
97*4
97 *9 100
70*9 88*2
110*4 112*4
113
113
91*9 91*2
92
09*9
96*4 100*8
74*4 89
14*9 22*4
10
18*9
125*4 128
101 103
100
107
78*4 85
96 *s 100
94 101
77*9 88
95 106*2
747e 84*9
71
89*8
80*8 86
102*9 105
87
94*2
105*8 108H>
102 li)9
97*2 108
100*8 1 0 0 * 8
1 0 2 *2 1 0 > >4
104*2 115
88
102*2
87 78
OS
95
85
83*2
103
79 7*
95
87
89*4
99*4 99*4
111
111
103
100
68
76
114*4
110*9
88*4
89*4
113 124
105*9 105*9
82*9 8 8
102*9 112*9
75
75
BON US
N. X. STOCK E X C H A N G E
W eek E nding D ec 11
1-rice
In u a y
Dec 11
Kid
N X C e n t * H It—(Continued
J-I
M-S
N J Juno ft gu 1st 4 s . . .19.81 F-A
N X A Harlem g 8 *9 S . .. 2 0 0 i M-N
N Y <& North 1st g 5s. ..1 9 2 A-O
A-O
.A C
J -D
A-O
F-A
M-N
J-J
J- J
J-J
J-J
2 d gold 6 s........................ 1 <l»t A-O
J-J
J-LI
J-U
M-S
M-N
J-J
J-J
A-O
J-J
J *J
J-J
M-S
M-S
ltegistered...................193] O-IV
i -J
J-J
M-S
M-N
J -D
A-O
A-O
Debentures 4 s ...............1931 M-N
W est Shore 1st 4s g u .. . 2361 J-J
ltegistered......................2361 J-J
( l i t Green w Lake see Erie
N Y A Hat See N Y C A Hud
N Y Lack A W See D L & W
N Y L K <S> W See Erie
N Y 3b Long Br See Cent of N J
N Y N H A H -C o n v 6 s . . 1948 J-J
J-J
Housatomc it cou g 5 s .. 1937 M-N
N H A Derby con cy 5s.l91t M-N
N Y <& North See N Y C & H
M-S
M-S
N Y & Put See N Y C & 11
N Y * it B See Long Island
N Y S A W See Erie
N Y Tex A AI See So Pac Co
Nor<& South 1st g 6 s ......... 1941 M-N
Norf & W est gen g 6 s........1931 M-N
Improvom’ t * e x tg 6 s ..1934. F-A
N ow Itiver 1st g 6 s ........1932 A-O
N A W By 1st con g 4s. 1996 A-O
ltegistered....................... 1996
D lv ’t 1st life gen g 4 s ... 1944 J-J
10-25 year conv 4 s ___ 1932 J-D
Pocah C A O Joint 4 s .. 1941 J -D
C C 3b T 1st gu g 5 s ......... 1922
Scio V A N E 1st gu g 4s 1989 M-N
North Illinois See Chi A N W
North Ohio See L Erie A W
Nor Pac— Prior lien g 4 s .. 1997 0 J
Registered....................... 1997 Q-J
General lieu gold 3 s___ «2047 4 - f
Registered................... o2047 « -F
St Paul-Dul Div g 4 s . . ..1 9 9 6 J -D
Dul Short L 1st gu 6 s . . 1916 M-S
C B A Q coll tr 4s See Gt Nor
St P A N P gen g Os___ 1923 F-A
Registered certific’a ..1923 « -F
St Paul A Dul 1st 5s___ 1931 F-A
2d 5 s ..................................1917 A-O
J-D
O-M
Nor Pac Ter Co 1st g 6 s ..1933 J-J
N or By Cal See So Pao
Nor W is See C St P At A O
Nor A Mont See H X Cent
luil A W Sec C O C A St L
lilo ltiv B li Nee Halt A O
Ore A Cal See SoPac Co
Ore Short Line See Un Pao
Oswego A Home See N Y C
O C F A St P See C A N W
ac Coast Co 1st g 5 s ....1 9 4 6 J-D
ac ot Alissouri See Mo Pac
Penn B lt 1st real est g 4 s .l9 2 3 M-N
Consol gold os................... 1919 M-S
Consol gold 4 s................... 1943 ,V>.-N
Consol gold 4 s ................. 1948 M N
Convertible g 3 * 2 8 ............1912 il-N
Convertible g 3 * 2 8 ............ 1 0 1 5 J-l)
Alleg Val gon gu g 4 s ... 1942
D B B B A Bgo 1st gu 4s g .’36
Pliila Bill A W 1st g 4 s ..1943
8 od Bay A So 1st g 5 s ...192 4
U N J fill A Can gen 43.1944
Penn Co— Guar 1st g 4 *2 8 . 1921 J-J
Registered.......................1921 J-J
Guar 3*28 coll trust rog.1937 M-S
Guar 3 *2 8 coll tr ser B ...1 9 4 1 F A
Tr Co certif’s gu g 3 *2 8 . 1 9 1 6 M-N
Gu 3 * 2 8 tr c tfs C ................1942 J -D
Gu 3 *28 tr ctfs I>................1944 J -D
Guar 16-25 year g 4 s -----1931 A O
M-N
J-J
A-O
M-N
F-A
111*8 113*2
101
81
......... 100 *9 N ov’OS
81
Si
Sale
93*4 01
9 1*2.........
94*8 Sale
85*9 85*4
81*4 84*2
8 5 * 9 .........
100
94
94
91 O c t ’ 0 8
94
94*4
80 >9
85»,
84*4
84*4
85 *9
85 >9
82 *2 N ov’08
90 Oct ’Oe
102 Mar’04
105
110*9
116
105*9 112*9
99
77
100*4
83 *9
87*9 94
8 8 * 2 91
90
95*4
75
86
73
84*4
74*9 91*9
76
82*9
99
99
IP#e/c’ 6
Range or
Last Sale
Ask Low
9 8*8......... 98
96 ......... 105
92*2 98
96*4
110
......... 107*2
98 ......... 100
Range
fiiiicv
/anuary 1
High i\'(/ Low
Mar’ 08
Oct ’02
Oct ’Ob
Aug’OS
S e p ’08
118 ......... 107 Nov’07
111 *4 Sale 111*4 111*4
102
......... 105 Jan ’ 0 8
98
H igh
98
96*4 06*4
107 'y 107 *2
7
100
100
108
7e 1 1 2
105
105
103 Sep ’ 0 8
103 103
92 *0 Sale
i 82
89
92*2
92*2
90 Aug’Ob
85
90
112 N ov’OS
112
112
......... 135
125 F eb ’Ob
125 125
102
......... 99*4 Apr'OS
99*4 99*i
95
6
94 * 2 ......... 95
89*4 96
93
93 >2 92*4 N ov’OS
90
93 *«
3 84
97
97
96 4 97
9 7 *s
90*8 8 ale
95*8
95*8 304 8 8 * 8 96
•10
.........
Oct ’07
1 1 0 * 2 ......... 109
102
......... 100 MayOb
100
100
......... 130 J a n ’ 01
120
118 .........
108 .........
99*4......... 104 D ec’08
1 1 2 * 4 ......... 114*4 Oct '08
114 >4 114*4
119 J’ ne’OO
1 0 0 * 2 ......... 1 0 0 * 4 Jail ’07
106*2 Nov’OO
90 J’lUVOb ___ 90
90
01*4 92» b 91*2 D ec’08
88
9 1 *2
102
103
103
......... 1 0 1 * 8 1 0 1 * 8
6
05*8 1 0 2
100 Sep ’Ob
100
1 01 *8
93 Oct ’OH
02
93
104
L03*8 1 037t 2 o 98 104
Sale 102*4 103
06*8 103
8
136
Sale 135*4
99
117*4......... 118*2
107 _____
99*4
Sale
99*4
101*2
......... 105
127 128*2
128*4.........
125*2 130
9 8 7s 99*4
......... 97 *2
......... 94 7t
93 Sale
90 *2 Sale
105 .........
96 .........
103
136 139 115*v 136
99*,
1 86
1 0 0 *2
6 112
118 '2
118*2
99*4 2 2
J’ ue’Ob
92*2 99*4
9 9 * 2 J’ne’O?
99*2 99 *2
128*4 Oct ’08
120
128*4
117*2117*2
117*2 J a n ’Ob
126 N ov’OS
120
126
9 8 7g
99
8
92*4 99*4
91 S e p ’07
1
05*4
95*4
81*4 95*4
78
95*8
92°a
93 N . 2 1
92
90
90*2 13 77
98
103H 103
101 *2 102*2 101 *2
73
7 3 * 2 Sale
98
103*2
101*2
0
29
6
22
72 .........
......... 1 0 0
73 S
71 A u g’08
0 0 *2 Jau 08
123 .........
116*2.........
ill
116
102*2 107
93 ..........
93
95
115*4.........
123
123
120 Oct ’08
117*4 J’ly ’ 07
103*2 J’l y ’ Ob
100 J’l y ’08
93 May’Ob
117 Aug’ob
1
87 *2 99
99 104*4
97*4 103
68
74*2
08 *2 ? l
89
96 *2
116
123
116
120
10 2
10 3 *2
112
in
U
P
115*8 115*8
112
112*9
110*9 May’Oi
117*4 Mar’05
113 J’l y ’04
JVOL. L X X X Y II*
c
c
B O N D .N. Y. STOCK E X C H A N G E
W kkk ENDING DEO 11
N e w Y o r k Bond Record— Continued— Page 3
c
c
1 522
109
111*2 109
109
11
101*2111
......... 103 J’no’ Ob
102
109 .........
103 ......... 106 Oct ’08
101*2
104 sale 103*4 104H, 233 1 0 0
08* h
9S7b 63 91*4
98*a Sale
94*4
Oa *« J92 8 8
04 7b Sale
07
09 J ’uo’u7
05
i(»7 ^ uet *00
101
105
106
1 05‘u
09
96*2
102*4 106 *2
......... 106*4 Deo’08
....................
I0 3 7e J’l y ’ 07
0 0 * 2 J’uo’OO
8 b Hi Dot ’Or ___
8 6 * 4 94*4
90*2 91
98M Oct ’Ob ___ 92*2 98*4
......... 98
89 ......... 8 7 * 4 Sop ’Ob
84*4 87*4
80
03 U 9 0 * 2 Mar’06
9 8 78 100>2 9 7*4 Oct ’ OS
90
97*4
07 ......... 110 J a u ’05
1 1 0 * 2 ......... 108*4 Aug’03
1 09‘u .........
9 3*2......... 98*2 D ec’05
94 > 2 ......... 90 May’08
90
90
106
.IIISU K IJ VNKOIIS I t l l M l s — Continued 011 .Next I’a g e
Coni anil Iron
Col F A i Co gen s f g 5 s ..1943
Convertible deb g 6 s ___ 1911
Col Fuel Co gen gold 6 s. 1919
Gr Biv Coal A O 1st g 6sl919
Cloart Bit Coal 1st» 1 4 » .. 1 9 4 0
Col lndu 1st A coll os gu. 1 9 3 4
Contin’ taiC l s t s f gu os g "l9 5 2
Jeff A Clear O A 1 1st g 6 s. 1926
Kan A H C A C 1st s t g os.1951
Pleas Val Coal 1st g s f 5 s .1928
Sunday Creex Co g o s ___ lu l l
T e»u Coal gen 6 s ............1951
renn Div 1st g 6 s ....... «1917
Birm D iv 1st consol 6 s ..1917
Cah C M Co 1st gu g 6 s. 1922
De Bar C A I Co gu g 6 s .1910
V a lro n Coal A C o ls t g 5s. 1949
Victor Fuel 1st s t 5 s ......... 1953
Telegraph nnd Telephone
N ov’08
Am Telop A Tel coll tr 4s 1929 J-J
79*2 96
A u g’OS
Convertible 4s................... 1<J36 M-S
50
77
107*2 Oct ’04
In-itaUnent certificates . . . .
A
p
r’O
O
1 02 *8
..................... Comm Cable Co 1st 2 4 s ..2397 0 - J
95 A p r ’ 0 2
M ich. State Telep. 1st 6 3 . 1 9 2 4 F-A
74 38*4 77
West Union col tr cur 5 s .1938 J-J
74*i 75 *v 75*4 D e c76S
’04
107*8
Fd and real est g 4*2 8 . . . 1950 M-N
107 Atuy’ 97
Conv 4s, Senes A ........... 1 0 3 0 M N
Alut U nTet s fund 6 s ... 1911
105 *2 Dec ’06
99 *2 .
105 Oct ’ 0 0
Hnm ilurtnring .v Industrial
Allls-Clialmers 1st 5a........iio-to J -J
78 Fob’ 07
80
104*4
8 2 *2 io i *,' A m A g d ie m 1st c os (rcts)’ 2b
104*4 Sale 104
100 107*2 Am Cot Oil ext 4 * 2 8 ........... ly 15 0 - 1
107 N ov’Os
107
99
no
Am Hide A L 1st s f g 6 s .. 1919 M-S
108*4 110* n o N ov ’OB
102 103
110
108 Out ’ 08
Amcr Ice Secur deb g 6 s .. 1920 A -0
lull 103*4 Am Spirits M lg 1st g6s..l*J15 M-S
102*3
103 N ov’OS
97
' 2 i 80 100*2 A m Tobacco 40-yr g 6s___ 1911 A -0
97 Sale
96*2
87
93 E Feb ’07
4s............................................ 1031 F-A
95
77
•No price Friday; latest bid and asked. aDueJan bDueFob cDue.uar ciDueapr /iDuej ly iCDue .>.ug
o
93*2 95
93
93*2
7 75*2 93*2
9 4*4 Sale
94*2
9 4 7h 1719 84 s 9 6 fl#
9 3 °0 Sale
93*8
93 °h 316 93*8 O.iAj
85 ......... 85*4 .Mar’ 0 8
99 101
92*4 9 9 7s
9 9 7s Nov 08
84
99
98*2......... 98 *2 D ec’Ob
81
9a
95 Sait
93*4
96
21
75
86*2
8 6 * 8 Sale
86
8 6 C 102
LOO 1UO
05 ......... 100 Aug’08
85 *2 Sale83
85 *•
06*4 Sale
96*2
96*i
96*4
95 5
9 5 * 4 Sale
100
96
99*4 99
74 Sale
72*4
74
93 ......... 95 Nov’08
1 0 0 *2
I08*i Sail. 108
78 Sale
77*8
a**
78
85*2
04
97
SO
l»6 ’ 1
76 *2 1»'>
6 8 ‘v ' 8
ill ion
613 0 0 *t 1 1 1 *8
1333 60 W Bli
101
536
7s
83
Due.jog pDue.>ov 1; o u d j a sOptioh '■ale
$}ew Y ork Bond B e c o r d -- Concluded— Page 4
D e c . , 12 1 9 0 8 .J
lfO > D-»
N. Y. STOCK E X C H A N G E
W eek Kndino D ec It
Penn Co—(Continued )
Pitta Ft W <fcC 1st 7 s ...1 9 1 2
ad 7 s...................................1.012
3(1 7 s............................... A1912
■ P C C & St I»«u l 's s A . . . 1040
' C St B <fc P 1st con g 68.1032
Pensacola & A tl See Life Nasli
^ .c
r j
J-J
j. j
.[-j
j -j
A-O
M-N
A-O
A-0
M-N
M-N
F-A
J-D
A-O
Q- F
\1-N
J-D
F l i n t * h l K t o ...............1020 A-O
1st oonsol gold 5s..........1030 i-NX
A-O
f -a
Pint is * W See Penn RK
J-I)
Philippine lty ls t3 0 -y r s f 4 s ’37 J-J
Pitts win i)i> St B See Penn Co
Pitts Clove & To! See B <fc O
Pitts 1*t W <& Oli See Penn Co
Pitts M cKees & Y See N Y Cen
Pitts Sli «& B E 1st g 6 s . . . 1040 A-O
1st consol gold 5 s ............. 1043 J-J
Pitts & W est See B & O
1 > ending Co gen g 4 s ........1997 J-J
JLV Registered...................... 1097 J-J
A 0
Rensselaer >fc Bar fate i) & 11
Sr ice
tritlav
Dec 11
llld
A**
92 .........
92 .........
307 *4 .........
109*4.........
1 0 9 % .........
105*4.........
110**3.........
109*8.........
109 .........
108*4.........
99 .........
9 4*4.........
98 .........
114*2.........
.........
9 1 * 2 .........
96 Si.........
1 1 1 * 2 .........
10434 .........
108 .........
110
Week's
Range or
I-ast Sale
3 .
Range.
Since
is
*ij- January
N. Y. STOCK E X C H A N G E
W ere K ndinu D ec 11
l-oui
High No Low High
92 A p r’Oi
983( Api ’04
10634
10334
4 100*4 100%
127*8 Oct ’ 02
119 J’ne’OC ___
107 Oct ’OS
107 107
116 May’05
109 Sep ’08 ___ 100*2 109
109 Dec ’OS
107*4 109
112 *2 J 'lle’05
99 Aug’08
99
99
98 N ov ’ 0 8
90
98
116*2 Nov’08 . . . . 109
123's Jan ’06
1 0 0 * 4 D ec’06
109 A p r’02
110 S o p ’08
103 Nov’ 08
100 N ov’Ofe
110*4
L1 0 1 1 0
104*2 105
1 0 0 * 2 106
115*2 Mar’ 06
96 *2 N ov’Os
90
115*2......... 114 Oct ’Os
114*2......... 93% J’ly ’97
100*2
.........
..........
So P of A r gu 1st g O s ...c l909 J-J
1st guar g Os............... clOld J -J
1st gold 6 s ......................1912 A-O
M-N
J- J
J -J
Ai-S
J-J
.-.0 Pac HR 1st ref 4 s..........1955 j - j
Southern—1st con g 5s___ 1994 j - j
j -j
Ala Cen R 1st gfis
97%
4fl
1918
1948
E T Va & Ga Drv g 5 s ..1930
Con 1st gold 6 s ............. 1950
E Ten reor lien g os........1938
109*4 114
10034 1 0 0
1 0 0 * 2 193
99% 95 A u g’08 . . . .
98*4 98 *s D e c’08
.........
92
93
90
100*2
97%
Rich & Ban con g Oe___ 1916
Deb 5s stamped............. 1927
N ov’08
82
J-J
J-J
j -j
J-J
j .j
A-O
J-J
J-J
M-N
M- S
A-O
J-J
J-J
J-J
J-J
J-J
A-O
M-N
M-N
M-S
M-S
M-N
M-N
F-A
W e s tN C 1st con g Os..1914 j - j
S A N Ala See B A N
92
j
Registered...................... 1937 J-D
E Milln Nor B iV 1st g 4s 1048 A-O
Minn Onion 1st g Os*....1 0 2 2 j - j
J •J
R e g is t e r e d ................. 1037 J - J
1st guar gold 5s............1037 J - j
W ill A S 1)' 1st gold 6S..103;- J-D
dt P A Nor Pao See Nor Pao
81 P A s ’ x City SeeC S t P 51 AO
8 A A A Pass 1 stg u g 4 s ... 1043 J-J
8 h e Pres A Ph l s t g 5 s ...104 2 M-S
S P A N P 1st sink I g 5 s .1019 j j
Sav F A W est see A tl Coast J.
Seaboard Air Line g 4s ...1 0 5 0 A-O
Coll tr refund g 6 s ......... 1011 M-N
Atl-Birm 30-yrlst g 4s.el933 M-S
J •J
J-J
Consol gold 5s________ 1943 J.J
Ga A A la Ry 1st con 6 s o 1045 J-J
Ga Car A No 1st gu g 5s 1029 J-J
J -J
Sher Shr A So See M K A X
till Sp OCa A G See A tl Coast 1.
tio Car A Ga See Southern
Southern Pacilic Co—
Gold 48 (Cent Pac coll).fcl049 J-B
Registered...................fcl049 J -1)
F-A
F-A
Mort guar gold3*as..fcl029 J -D
Through St L 1st gu 4s ’ 64 A-O
liiil lia r A 8 A 1st g 6 s inic, F-A
M ex A Pac 1st g 5 s . . ” 193 i M-N
Gila V G A N 1st g u g S s. 1024 M-N
Hous It A W T 1st g fis 1933 M-N
1st guar 5s red......... .1933 M-N
H A X C l s t g 5s iu tg u .. 1937 J-J
Consol g (is lnt guar...1 9 1 2 A-O
Gen add 4s lnt gu ar..1021 A-O
W aco A N W d l v l s t g O s ’30 Vl-N
A A X W 1st gu g 6 s___ 1041 J-J
121 % .........
1 1 0 * 2 1 11 *2
115 J’ly Oh
113
109 Nov ’ 0 8
103
91*4 9 1 1** 91*4 B e e ’Os
90
97 ......... 100 M »y’o8
100
83
bO 109. 04*4
.Hiiiiiilactnrlng ifc Industrial
Aw Thread 1st col tr 4 s ...1 0 1 9 J-J
Tex & Pao 1st gold 5 s........2000 J-D
2d gold Ino 5 s ...................o2 0 0 0 •Mill
J .J
W Min W A N W 1st gu 5s ’30 F-A
Tol cfc O C 1 st g 5a
”
1935 J-J
A-O
114 ......... 113 Mar’Ob
General gold 6 s . . . " ..........1935 J-B
111 114*2
83 *4 Sale
8 2 >2
83 *i 76 00*4 83*2
Kan A i f 1st gu g 4 s ___ 1990 A-O
97 .........
Tol P A W 1st gold 4 s . . ..191 7 J-J
93 .........
Tol St B A W p rlien g 3*2s.l92 5 J-J
50-year gold 4s.................1950 A-O
92*2 93
10
92*4
93
84% 93% For Ham A Bull l s t g 4S.A1940 J -B
J-D
SI
80*2
80*2 26 65
703s Sale
76M
70*2 lb 60
U
1st refund g 4 s . . ____ 1952 A-O
80
J-J
97 * 2 ......... 101% A p r ’OV
Registered...................... 1947 J-J
102*4 104 >• 103*8 Nov’08
1st A ref 4s (w 1)........... ji2008 M-S
102*4 100*4
J-J
133 ......... 131% N ov’08
l ‘20 ^ 1 317e
131*4......... 134 B ec’ Ob
Ore Ry A N av con g 4s. 1940 J-D
1 10 *4
111*2
8 102
Ore Short Bine l s t g Os.. 1922 F-A
110*2111
1 1 1 *2
J-J
108*8.........
J-D
1 [ DMi? 107 ^
103*4......... 103*4 103*4
1 01
101
J-D
3 94
101
J-J
1 0 0 * 4 Oct ’00
J-J
9 3*4 .........
113 ......... 124 Muy’U5
Uni N J R R A O Oo See Pa RR
132*4
128 130
130*4 May’OO
ilti
113 *» Oct ’Ob
111*2 114
V audalla cousol g 4 s ___ 1955 F-A
110
......... 115*2 B ec’OO
1 era Cruz A P l s t g u 4 *2 s l 9 3 4 J-J
Ver Yal lnd A W See Mo P
91 *2 Sale
89 7s
91 *v 122 78
91*2 Virginia Mid bee South Ry
Va A Southw’ t 1st gu Os.2003 J-J
104 ......... 1 0 2 Sep ’07
\\l abasli 1st gold 5s........1939
110 o c l ’05
VY 2 d gold os...................1939 F-A
J-J
63*8 04
Series B ........................... 1939 J -J
126 43*2 64
01*2
C4
92 .
1st lien equip s filg o s .. 1921 M- a
90*4 Oct ’Oh
80 *4 90*4
............
1st lieu 50 yr g term 4s. 1954 J J
88
Jan ’07
J-J
»5 J’i y ’ 08
CO
J -J
98 ......... 107*4 Aug’06
..... ... .. .
J-J
95 .
A-O
i 09 *2 Mar’06
......... ..
Tol A Ch D iv 1st g 4 s ...194 1 M-S
101 *i N ov ’08
92 101*2
..............
102 Oct ’Ob
Wab Pitts Term 1st g 4s. 1954 J-D
102
102
1 0 2 E .......
100
Mar’O?
2(1 gold 4 s ........................... 1954 J-D
Warren see Bel Bac a W est
Wasli Cent bee Nor Pac
Wash O A W See Southern
91 >2 Sale
Wash Ternit 1st gu 3 *2 S . .l 9 4 5 F-A
91*2
91*4 18 83% 94
................
84 J’ne’07
W est Maryland I s t g 4 s ...l 9 5 2 A-O
A-O
98
OS
02
J -J
94*a Oct ’ Ob
8 6 1<
87
80*4 89
8
80
8 8 % W est N Y A Pa 1st g o s ..1937 J-J
94 ......... 04 Oct '08
Gen gold 3-4s.................... 1943 A-O
88
95%
1033n 105
W est No Car bee South Ry
110
....
107 J a n ’Ob
107 107
10334 ......... 103*4 103*4
Wheel’ g A B K 1st g o s ...1 9 2 0 A-O
*4 1 0 1 * 2 1 0 6
J -J
100*2
Exten A im p gold 5 s ...1 9 3 0 F-A
Aug’ OO
1 0 0 * 2 ......... 104
LOO 104
HR 1 st oonsol 4 s.............. 1949 M-S
1 LI ......... 111 Oct ’ 0 8
109*4 U'J
J-J
109 .
107% N ov ’07
94% 97
94*2 D ec’ 08
W ilkes A East See Erie
37
05
W il A Sioux F See St P M A il
117 ......... 110 B e c’OO
109 ......... 109*2 109*2
•J 109*2 109 *i W is Cent 6 0 -vr 1st ven 4s 1949 J-J
9 1*2.........
8 8 >4 Sep
’08
Cent Bencher 20-year g 5s.l9 25
Consol Tobacco 50-yrg 4 s .1951
Bis til Sec Cor conv 1st g 5 s .’27
ln t Paper Co 1st com g Os.1918
Consol conv s f g 6 s ........1935
lilt St Pump 10-yr cunv. (hi T3
Lackaw Steel 1st g f>s___ 1923
A-O
f -a
A-O
F-A
J-J
J-J
AO
90*2
97
79*g
79%
7 9 * 2 Sale
74
80
104 100 104 N ov’Ob
80 % Sale
84 7a
8(5%
101*2 Sale 100*2 101*2
97 ......... 90%
9#
R epu bI A S ls t A c o lt r 5 s .l9 3 4
U 8 Eeatli Co s f dob g 6 s .. 1913
U 8 Realty A I conv dob g 5s ’24
U S steel Corp— ( coup .dlU63
St 10-00 yr 5s. (reg ..cfl903
Va-Car Cherti col tr 6 s g .,1 9 1 ‘1
lnt 15-yoarOs....................1923
W estin ‘.-house Jfi A .M s t os ’31
A-O
M-N
J-J
M-N
M-N
A-O
J -D
J-J
98*2 1 0 0
IO4 3 4 .........
87 *» Sale
1 0 2 3^ gale
1 0 2 * 4 Sale
105 * 2 .........
94 *2 Siue
94*2 Sait
97 “ Sale
08*2
106
80
200
12
162
99
21
1*
88
8
1
94
783
4
llaiiyt
Since
January 1
Hiun No Ia>v) H 1 git
Ash Low
122*8 Aug’08
121*2 122%
110 Nov’ Ob
112 Feb’ 07
102 106
98*2 103
102*8103*2 102*4 Nov’ Ob
102*4 103M
1 0 3 % ......... 103*4 Sep ’08
i 0 4 ^ 104
1 0 1 % ......... 114*2 B ee’04
110 Mav’07
Ill
104 A p r’ Ob
104 104
107 *2 Sate
9 8 \ A p r’08
95%
90%
107*4 197 *4
31
374
87 ~
107 *<i
87^
109
80
82 '
io9
.........
......... 1 X2*2
104*2 100%
07 *a.........
117 .........
117
1 0 1 *2 . .
......... 85
110
110
112
1 0 0 % .........
1 0 0 * 4 .........
104 .
104
107 .........
107 .........
84 ^
107*4.........
111 F eb ’ 07
109 N ov’Ot
1i 3
113
6
104 *2 104%
02 N ov’Oh
115*2 Oct ’Oe
117 O c t ’Os
115% Apr ’06
82 N ov’Oe
109*2 Kov'Ofc . . . .
92 J’ne’Ob . . . .
75 Oct ’Ob
98 N ov’Ob . . . .
112
O c t '0 0
108*2 B ec’Oo
113 D ec’06
105 *2 N ov’Ob
105% D eo’Oe
90% fan ’07
108 D eo’08
95*4 9 8 Va
87 S2 96 Si
82*2 109
71
75
96
69
108
87
764
87 4
107
S8
108
38
100
102
97
109
113
105
100
107
117
117
78
103
83
109*2
95*2 98
105
105%
105*4
106*2
108
101*2
117 J’ ly '00
108
i'oo’% ....... 108 D e c’Ob ___ 1 0 2
110
......... 115*4 N ov’es . . . 109*4 115*4
9 7 * 4 D ec ’ 0 8
97% . . .
90*2 97*4
111 D eo’OU
104
114*4 Sale
0 2 * 2 ........
114*4 114*4
05
05
110 Mar’OO
112%
107*2
100 105
92 .........
84*4 87
91*2 91%
82 *2 Sale
83 .........
105*2.........
8 1 * 2 .........
109*2 A u g’08
11 i
May'04
104 N ov’Oc
90*2 N ov’Ob ___
85 *2 Nov’US
91*2
91*2
3
80
82 *2 12
93 D eo’Oe . . . .
109 N ovl08
81 NovOh
Lu3J* 103**
102 D e c ’Ob
y/
o * 38 4
iu5% 107 >2 4201
ybu4
o s 7* OO
1 21 *4
121%
1
117
117
y
94*2
94% 129
8 7 * 4 M ai’o t
100 Oct ’07
107 *2 Sep ’Ob
1 0 1 * 2 .........
97 Sale
107 % Sale
9 8 * 2 .........
......... 1 2 1 *2
1 1 0 * 2 .........
108
.........
95
........
98
98
99
118
6
N ov’Ob
Sep ’00
108*2......... 108 Oct ’Ob
112
76
112
sale 1 1 1
100*2
loo % Sale 1 0 0
90 J’ne’Oi
82
D8 2 * 4 ......... 80
70
. . .. 102 F e b ’08
93 M ui’ Oc.
......... ......
09
71% JGV'
1 0 3 % ......... 100 Apr ’Oh
97 N ov’ o-i
80 .
5
80
80
80 .
liti3# J ’n e 'o '
......... 90
63 *8
66
.*3*o
53 % Sale
63
66
12*4
11% no
13 hi Sale
102
109*2
95% 104
84
90*2
70*4 85*2
80
9 l *2
07
82 *2
103
81
99
93
94*4
83
91
llo
100
30*2
109
81
lu 4
102
9 ,%
107 *2
101%
122
117
97
107 *2 107 *2
98
98
99
110
102
111*4
84 S2 196 ^
37
loO
. ___ _
37*2
82
103
. ....
71%
100 ~ 100
83
83
41
48
7
50
a4
19
90 *2 Aug’Ob
90*2 90*2
73*2
79% 4 b 49
hO
-7 30
50
63*2
50
101
......... 1 0 0 * 2 Aug’OL
110*4......... 110 O c t ’Ot
108% 1 1 0 %
90
90
3 87 *s 90
95
90
34 l'e b ’o7
.........
.........
90
80
100*4......... 105 N ov’Ob
‘J5 j l y ’ ot
.................... 105*2 105*83
......... bii1*!
83
104 Oct ’07
......... 95
89 *4 Sale
87
100
95
92*4
lb 60
2
89% 2 3
SO
107
103
105*2
83^
89*4
HON U S —Concluded.
JiU ceilancou s
% Adams E x col tr g 4s ..........194fc 71- S
Chic Jc A bt Yard col g 5s. 1915 J-J
85*a 99
62
79% Bet M A M ldgr incomes.. 1911 A-O
Institution for Irrig W ks
64
80
99*4 100
A Bevel of A g n cu l s 1
4 '2 8 (ctfs)........................... 1943 M-N
78
86%
90 101 *2 ln t Moreau Marine 4*2S..1922 A-O
ln t Navigation 1st s f 58.1921“ F-A
84
08
82% 99*2
101 107
04*2 87*4
8 6 * 2 103%
85*4 103%
8 !)
105*2
95*4
23 05
94%
348 07
o D u e .e U
a Due an
99*2
105
87 *2
102*4
102%
102*4
102%
105 *2 Nov ’ 0 8
04*2
94%
91
01%
* No price Friday; latest oni mil tslreil tills week,
83
« *5
115
109
91*,
lo o
80
(UUsOEhl iANEOLIS
j
' I'er A of St B 1st g 4 *2 S . .i 9 3 9 A-O
1 1st con gold 5s___ 1894-1944 F-A
Gen refund s t g a s..........1953 J-J
A-O
t B &, Iron Mount See M P
tit Li K C (to N See Wabash
t R M Br See T It It A of St L
8
8
J-J
General gold 6 s .................1931 J-J
Bt hi A 8 O' lilt cons g 4 s . . ’90 J-J
AO
.r *j
J -D
St L A1 i& So East gu 4 Higl909 J-D
K C F t S A M cong 6 s . .'1928 M-N
K C Ft 8 A M lty rer g 4s 1930 A-O
K C A M It A B 1st gu 5s. 1029 A-O
O z’rk A Cli C 1st gu 5s g.1013 A-O
tit Louis 8 o See Illinois Cent
8 t B 8 W 1st g 4s bd ctls.1080 M-N
J -J
Consol gold 4s............... .*.1032 J B
J -D
tit Paul A Bill See Nor P a d lie
8 t Paul .M A Man 2d 0 s ... 1009 A-O
J-J
Registered...................... 1933 J-J
Reduced to gold 4*23.-1933 J-J
J J
M-N
Week’s
Range or
Las/ sale
Rid
ll<Ja4
J-J
So Car & Ga 1st g 5 s ___ 191V
93
1‘rice
fiYidav
Dec 11
87 "
Rocli & Pitts See B it & P
Rome Wat ds Og SeeN Y Cent
kJag '1 us & H See Pere Marq
O tJ oiS sG r Isl 1st g 4 s ... 194*7 J-J
soutnern Pac Co—( Continued j
2d
9(5*4 97
£
■S<£
1523
e u u e.-ia y
26
45
......... 92*4
70 Sale
84 Sale
92%
93
41 O c t ’OG
100 J a n ’ 08
47 A p r’ Ob
92*4
09
84
e
92%
2
70% 234
j
84
83
96
100
100
47
42*2
92%
63
75
93
7*3
80
90 Aug’Oh
90
90
93
4 85
92%
92*85 O c t ’07
.....................
85
S5
87 ......... 85 ila y ’Or
1 0 0 * 2 >ep ’ 0 .; . .. .....................
......... . . . . . .
............ 112 J’ ly ’OS
..................... 113*2 J’ lv ’Oi . ..
7H
9a
90 N ov’Ob
90
95
m uon sale
v Due hue /ii i u o .r i y P Due -".ov
Newp No Ship
D Ii 5a <1199(7
N Y Bock 50-yr 1st g 4 s ..1951
Providence sec deb 4 s ___ 1957
Provident Ixian Sou 4 *2S. 1921
St J oseph Stk Yds 1st 4 *as. 1930
S Yuba W at Co con g Os..1923
Sp Vul W at Works 1st Os. 1900
U S Red A Hef 1st s t g 08.1931
d Line Apr
92% Sale
J-J
F-A
M-N
M -S
J-J
J-J
M-S
9 7 " .........
92*2 Sale
(iJHIOAGrO STO0K E'XOSA.Y'.xB— Stock Record— Daiiy, Weekly and Yeariv
STOCKS— HIGHEST A N D LOWEST SALE PRICES
Saturday
Dec 5
Monday
Dec 7
*182 200 *180
*2
*2
3
*B%
8
*115 117 *116
4333
43
43
24% 2412 24t2
*12
*12
13
22%
*20
22U
Tuesday
Dec 8
Wednesday
Dec 9
190 *182 190 *180
*2
*2
3
3
*612
8
*61"
8
11612 11612 *110
118
4414
433s *43U 44
2412 *2414 243., *2414
123., *12
123, *12
265g 26%
25
25
Thursday
Dec 10
190 *182 200
185
185
3
Last Sale 2%
Oct’08
8
*6
10
6
6
117% *114 117 *114
117
441" *44
45
4534
44%
243., *24
25
*24
25
1234
1234 1234
12%
13%
2834 27% 28%
2G34
28
Last
41% 41 % *40
4212 4212 *4H2 43
*41% 44
81
81
*80
*80
81
81
81
*79
82
17
17
*10
*16
17
17
*16
*17
20
48*2
48
50
*49
4812 48>2 *47
48
48
Last
*16
Last
1712 *16
17%
*161" 18
*17
20
*50
55
*50
Last
55
*50
55
*50
60
60
60%
61
61
60
61
60
*60
61
32
3238 32
317S 32U
3178 321j
317$ 3214
___ *101 103
Last
*100 103 + 101 102 *101
912
9176
7612
*176
*123 128
*57
5812
*105 107
114
*5
64
*1
*2
*25
129
20
129
*90
119
85
*112
1001.1
*52
1001?
102
1221"
H4
512
1*4
6
*___
*114
10512
12212
37
93S
7512
*176
*126
+5712
*105
Us
214
*
*1
2512
129
115 *114
106% 10512
123D 123!2
38
37
9012 *90
119
119
86
85
113 *112
10012 100U
53
33
100*4 101
102% 102
123 *1.22
98
*9784 9812
34
*4
37g
41S
*14
*15
16
Sales
Friday
Dec 11
Sale
42
82
17
50
Sale
Sale
Sale
60
32%
Sale
18
July'07
41%
41%
*80
82
*16
17
*49
50
46% May'OS
17% Nov'08
50
Nov'08
*60
61
31%
32
100 Nov'08
9%
93?
93s
*9%
9%
9%
933
7512 76
76
76
76
76%
*176
*175 200
190
190
Last Sale 127 Nov'08
130 *126 130
56% 56% *56% 67
571s
56
56%
Last Sale 104 Nov’08
107 *106 107
10
July'08
1
1
1
■1 %
%
1*4
6%
5
5
6
*5
5%
*55
57
Last Sale 147' May'OS
*1
Last Sale 1
Nov’08
1%
1%
Hr *1
2
2
*2
3
*2
*2
4
3
3
+25% 26% *25% 261"
2578
25%
253s
26
26
129 129 *128 129
129 129
130
130
129
2%
Mch'08
114 114
113 113
114 114
114% 114%
115
105% 100
107
100 10612 105% 106
105
1051"
124
124
123%
124%
123
124
123D 124 12412
*38% 39
38
39
3812 39
39
39
39
91?
7634
93s
753s
*176
130 *126
57
68ls
107 *106
1
76%
1
6
*90
*11812
*86
*112
10018
5134
*101
10212
*122
*9812
%
4!i
4U
*16
16
91
119
86
113
10012
53
101
1021"
123
99
1
1
1
92
91
119
119
*80
90
113 *112
100l2 100%
63
63
101% 101%
10212 10234
123 *122
*98%
99
1
473
5
—
16
78
___
___
94
119
90
113
101%
53
101%
103%
123
99
1%
6*2
—
___
6
5^4
Last Sale
93
93
93
93
*119 119% *119
119%
*86
90
87
87
Last Sale 112
Dec’08
100% 100% 1 00 % 10034
53
53
52%
54
101
101
101% 10134
1027s 103
10234 103
*122 125 *122
125
98*>3 985$
98%
9838
1%
1%
1%
1%
6%
8%
7%
8
Last Sale 16% Nov’08
Last Sale 32%
10~
Last Sale 18
Last Sale 4
Jan '07
Nov*06
May'07
Nov'OG’
07 H ie
Week
Shares
Amer Strawb’d 1st O s.lu l 1
Cass A v & F G (St L) 5s’ 12
Chic Board of Trade 4sl927
Chicago City Ry 5 s . . . 1927
Chic Consol Br&Mlt 6s-----Chic Consol Trac 4 H s.1 9 3 9
Chic Auditorium 1st 5sl929
Chic Dock Co 1st 4 s . .19 2 9
Chic No Shore Elec 6 s . 1912
Chic Pneum Tool—
1st 5s............... ......... al921
Chic Ry 5 s ___________ 1927
Chic Rys 4-5s series “ A ”
Chic Rys 4-5s scries " B "
Chic Rys 4-58 scries ” C”
Chic Rys coll O s... 1913
Chic Rys Fund 6 s-------1913
Chic R ys Tem Ctts 1st 5s.
Chic H U P RR 4 s . .2002
Collat T m st g 5 s . ..1 0 1 3
Common w’alth-Edison —
Chic Edison de b 6sl913
1st g 5 s ____ July 1926
Debenture 5s-------1926
Commonw Elect 5s6l043
Illinois Tunnel 5s-------1928
Kan Cltv R y& LtCo 5s 1013
Knlck’ b’ ker Ice 1st 5S.1028
Lake St El— 1st 53 . .. 1 9 2 8
income 5s.................... 1025
Metr W Side El—
J
J
J
P
J
J
F
A
A
-
Price
Friday
Dec. 11
Bid
J ---- J ---- D ---- A 104%
J —
D ___A —
O
O ____
Week's
Range err
Last Sale
160 Jan 24
1% Feb 3
61•'Dec 4
8434 J'ne30
38 Oot 3
20
Nov 6
9*4 Sep 22
15 Feb 10
2 %Mch2?
B'ds
Sold
Range
Since
Jan. 1 1908
Ask. Law
High No. Isrw
------ 100 Mch’l)7 _ __
—
100%Sep’ ()8
99%
—
100 May'07
Sale 104% 104%
48
94%
—
103 Apt'04 ____
____
55 Aug’07 ____
—
96^4 Jan’OG — —
____
87
185 Dec 11
3% A u g 3 1
10
Aug 28
119 Nov25
47 J’ ne .
241" J’ly >•
13% Dec l l
2834 Dec 9
4% Dec 11
30
4734
68
1214
861"
19
54
47
Oct 9
Sep 28
Nov 2
42 Jan 6
44 May 5
133. Aug 0
46 Aug 18
42 Aug 21
26i2 Apr 10
85 Apr 20
25 Apr 13
20
56
71
34
103
31
Nov 13
Nov 11
Jan 22
M ayD
May 2 ;
Jan 31
M ayl 1
Jan 18
N ovl7
.J’net
May 4
4 Feb 13
1038 Nov 13
41% Jan 2
76% Dec 2
125 Jan 10 190 Dec 11
116 Apr 22 128% NovH37 Mch 19
03 Nov 11
91 Jan 2 104 N ovl7
10
J’ly 7
42 Jan 9
1 Nov 19
30 Jan 11
6 Nov20 100 Mayl-'
40 Feb 20
67% Deo 2
147 May a 147 May 6
1 Oct 6
1% Aug22
2 Nov20
4 Apr 13
S01» Aug 8
21 Feb 26
100 Jan 3 153 Sep 11
234 Feb 21
34 Feb 25
100 Jan 4 114% N ovl7
80 Jan 3 110 Oct 19
113 Jan 2 137 Aug31
39 Jan 14
30 Jan 22
38 J’ne 15
46 J ’ly 19 J ’ne23
20 J’ly 24
70 Jan 3
94 Dec 9
101*4 Jan 2 120 Aug 5
51 Mch 3
87 Dec 11
91 Mch 23 115 Nov 1
80% Jan 3 102 Nov 18
54 Dec 11
24 Jan 24
72 Jan 16 101% Dec 11
88% Jan 2 105*4 Sep 9
114% Jan 3 134 Jan 29
87 Jan 3 100 J’ly 30
% J’ly 17
l%Jnn 4
12 Jan 15
1% J’ly 17
1134 Oct 30
17 Apr 11
150 Mch
1*4 Nov
10 Oct
205
5
16
Apr
Jan
Apr
11
2%
14
28
08%
17
43
34%
20
58
60
26
95
20
Oct
Dec
Apr
Nov
Nov
Dec
Nov
Apr
Sep
Apr
Nov
Oct
Apr
Mch
461" Jan
6% Apr
19% Jan
65 Jan
Ji7 Jan
28 Jan
72 J an
47 J’ly
25% Jan
66 J’ly
90 Jan
24 Jan
99 May
35 Apr
3
34%
120
112
80
83
30
2ft
90
45
165
1
5
21
96
Oct
Nov
Dec
Nov
Nov
Nov
Jan
Dec
Dec
Oct
Feb
Jan
Aug
Dec
Oct
7% Apr
60 Apr
140% Sep
130 Apr
80% Jan
109 Jan
40 Mch
40 J’no
111 Feb
54 Jan
165 Feb
1 Jan
lii" J ’na
51 Feb
134% Apr
95 Oct
77 Oct
108% Nov
34 Nov
41 Aug
2% Jan
25 Feb
58% Oct
91 Nov
60 Nov
97% Nov
72 Nov
20 Nov
67 Nov
761" Nov
100 Nov
85 Oct
% Nov
6 Jan
10 Dec
112% May
37% Oct
129% May
57 May
46 Jan
2% Jan
27 Mch
86 Jan
117% Jan
84% Jan
120 Jan
92% Apr
67 Jan
95 Jan
113% Jan
173% May
1023, Jan
2% Apr
12% Apr
30 Feb
32% Jan
32% Jan
16 %
20
Apr
Jan
Chicago Banks and Tmst Companies
Feb'06 ____
75
102
94%
___
86
89
101%
U01
____
M - N ____
M - S . ___
76%
102%
Sale
Sale
90
101%
101%
____
____
____
74
76
102
102%
93
94%
85
86%
87
90
1011" 101%
101% Nov'08
101*4Dec’ 08
79 Nov’ U4
80 Apr’04
9
28
94
191
96
26
—
—
—
—
J - J 100
A - O 1100%
to - S {99
M - S 103%
.1 - D :so
31 - N . . . .
A - O DO
J - J ____
170
Feb
101
100
Sale
Sale
____
93
____
80
100 June’08
100% 100%
99*4 Nov’08
103% 103%
80
80
96 Oct'08
90%Aug’ 08
80 Nor’08
16 May'05
....
2
J - J
F - A
Highest
Lowest
Slock
1
Surplus
and
Fronts
t
*2,000,000
100,000
500,000
3,000,000
4,000,000
50,000
3,000.000
200,000
600,000
200.000
8,000.000
150.000
1,000,000
1,000,000
500,000
1,500.000
200,000
1,250,000
300,000
250,000
2.000,000
1,500,000
250,000
200,000
60,000
100,000
250,000
600.000
260,000
300,000
200,000
1,000,000
250,000
200,000
200,000
3,000.000
2,000,000
n500,000
5,000,000
60,000
600.000
200,000
1,500,000
2,000,000
1,250,000
5.000,000
200,000
200,000
3,000,000
750,000
1,600,000
200,000
200,000
A500,000
500,000
200,000
1,000,000
1,000,000
200,000
200,000
*1,282,055
s85,8JL0
SlOO.OMl
4,318,182
3,529,242
53,74-1
5,018,608
60,955
390,583
538,960
8,029,283
169,581
544,406
450,553
100,526
855,614
117,631
420,202
01,014
S90.180
1,272,636
484,645
60,633
S05.550
59,540
40,096
85,688
'563,197
7,010
135,950
79,232
1,338,910
176,887
39,900
60,476
2,471,410
860,976
5112,841
51,428,335
56,960
499,088
82,697
5148,206
2,10 .,690
713,570
8,317,985
5-14,166
s3b,063
4,809,746
255,658
1,865,592
52.421
90,686
163,486
500,297
517,397
1,144,720
219,486
55,834
29,387
Oulstand
Inter
est
Period
itanije \or Pret.lous Yeat
(1907)
Range Since
Jan.
1908
Railroads
Chicago City R y ______100
Chicago <S: Oak P a r k .100
11 Do pref__ ____
100
13 Chic Rys«part ctf " l " _
620 Chic R ys part otf “ •2” ___
116 Chic Rys part ctf ,*3” ___
637 Chic Rys part ctf ' 4” ___
7,091 Chicago Subway______100
25 Chic Union T ractio n .100
...
Do pref____________ 100
239 KansCity Ry & L t .,1 0 0
65
Do pref____________ 100
15 Metropol VV S Elev___ 100
356
Do pref_________ . .1 0 0
North Chicago Street-100
Northwestern Elev___ 100
Do pref____________ 100
318 South Side Elcvatod__100
485 Streets W Stable C L -1 0 0
Do pref____________ 100
W est Chicago S tree t..100
Miscellaneous
1,030 American Can_______100
1,615
Do pref....................... 100
25 American R a d ia to r.. 100
...
Do pref____________ 100
360 Amer Shipbuilding___ 100
Do pref____________ 100
Amer Straw B o a r d -.- —
669 Booth (A) & Co...........100
368
Do p re f____________ 100
Cal & Chic Canal & D .1 0 0
Central Trust B a n k ..100
Chic Brew’g & Malt’ g _ .
200
Do pref______________
55 Chic Pneumatic T o o l.100
153 Chicago Telephone___ 100
Do rig h ts ____________
73 Chic Title A Trust___ 100
1,944 Commonw’th-E d lson.100
381 Diamond Match______ 100
227 Illinois Brick__________ 100
Masonic Tem ple_________
Mllw & Chic Brewing —
Do pref________________
305 National Biscuit--------- 100
285
Do pref____________1O0
210 National Carbon______ 100
Do p r e f . . __________ 100
2,037 People'sGasL&CoUe__100
924 Sears-Roebuck c o m .. 100
449
Do pref______
100
1,918 Swift & C o .. - . ................ 100
60 The Quaker Oats Co__ 100
65
Do pref________. . . 1 0 0
5,540 Unit Box Bd & P Co-100
2,028
Do pref......... ............ 100
Western Stone ______ .100
Mining
Bingham Con M ining. 50
Black Mountain__________
D aly-W est______________ 20
Hubbard-El M o t t ..---------
Chicago Bond Record
BONDS
^
C H IC AG O STOC K
EXCHANGE
Week ending Dec. 11.
STOCKS
C H IC AG O STOCK
EXCHANGE ^
12
5
—
—
—
---- -
NAME.
High Bankers N a tio n a l_______
Calumet National----------101% Chicago C i t y . . --------------Commercial National—
104% Continental National—
Cook Co State S a vin gs..
Corn Exchange National
Drexel State--------------------....
Drovers Dep National—
Englewood State------------First National---------------First
N at Engle ood------68
76
95% 1021" Foreman Bros B k g Co
86% 94% Fort Dearborn Natlonal.
78
86% Hamllton National--------Hibernian B 'k ’ g Assn—
75
90
67% 101% Kaspar State B a n k - - - - .
100% 101% L ivesto ck Exchange Nat
99% 102% Monroe N atlo n al-Mutual Bank..........
____
Nat Bank of Republic—
National C ity.............
100 1001., National Produce-97 100% North Avenue State
98*4 10(1% North Side State Savings
93 103% Oakland National-------80
Prairie National-----------80
93
Prairie S t a t e ..-------------90
85% 92% Railway Exchange-----80
881" S e cu rity _______________
____ ____ South Chicago Savings
State Bank of Chicago—
80% 88% Stock Yards Savings
Union Bank of C hlcago-75% 85
—
. . . . Unlon Stock Yards State
____ ____ American Trust & Saves —
____ Central Trust Co of 111—
. . . . ____ Chlcavro Sav Bk & T r------86
90% Chicago Title & T r u s t .. .
80% 951" Citizens Trust & Savings
69
Colonial Trust & Savings
99
94
Drovers Trust & Savings
95
90
98
Farwell Trust Co—
97% 971" First Trust & Savings—
109% 118% Harris Trust A Savlngs.
94 103% llllnols Trust A Savings
97% 104
94*4 103
98 10O
Merchants’ Loan A Tr Co
92
96% Metropolitan Trust A Sav
93 1001" Northern Trust C o.
85
90
____
47
68
____
Royal Trust Co___
____
Stockmen’s T m st A S a v .
Unlon Trust Co___
72% 8C% Western Trust A Si----____
W est Side T r A Sav Bank
70
861" Woodlawn T r ASav Bank
d prices
Dividend Her
jin
1906
In
1907
8
5
10
12
8
6
12
6
8
3
12
10 + 10
Prlv
6
8
0
10
12
8
6
12
6
8
6
12
10
Per
iod
Q-M dept '08, 2
Dec '07. 6
J-.I July '08, 5
Q-J Oct *08, 3
Q-J Oct ’08, 2
Q-M Sept "08, 1%
Q-l Jan ’09, 3
Q-J Oct '08. 1%
Q-J Oct '08, 21*
Q-.I Oct '08,. 1%
Q-M Sejtt '08. 3
Q-M Sept '0 8 , 21]
Ilk
8
Q-J Oct '08, 2
5
J-J Jan '09. 21*
8
8
Q-J Oct ’08. 2
10
10
J-J July '08. 5
Q-M Dec ’08, 4»i
3
Q-F Nov ‘08, 1
4
4>$
Jan ’08, 41*
6
8
Q-J Jan '09. 2
Q-J Oct ’08, U*
Began busme S3
Aug 26 1907
Q-J Oct '08. 1%
Q-J Oct *08. H*
6
6
6
6
Q-J Oct ’08, 11*
Q-M Sept ’08, 2
(738
8
Jan '08. 2
4
Oct 12 1906
Organ Ized
0
5M
Q-J Oct 08. 1%
8
9 + 1 Q-J Oct ’08, 3
6
6
J-D J'nc *08, 3
6
6
M-N Nov '08, 3
0
6
Q-J Jan ■09. 2
8
8
Q-J Oct *08, 2
7
7
Q-J Oct '08. 1%
Q-J Oct '08. 1»*
6
6
Q-l fan *09, H*
3
3
A -O Oct '08, 2
10
10
Q-J Oct ’08, 21*
6
6
Q-J Oct '08, 3
Organ lied
Apr. 13 1907
66
?3% Sale
827s
83%
F - A
18
79
80
79%
80
Extension g 4s______1938 J - J
90 Dec’OG —
North Chic St 1st 5 s . .1 9 0 9 J - J — - —
.... ---J • J ----- . . . . . . . .
79 Aug'06 -----—
Refunding g 4 ^ s _ _ 1931 A - O —
—
—
No Chic C ltyR y4>$sl927 M - N —
12
88%
89
North W est El 1st 4 s . .1911 M - S 88^3 Sale
C
95
95
Sale
Ogden Gas 5s_________ 1945 M - N J95
99 Ang'08 —
« ...
99
J - D
94 Sop’08
94
4 . 4 0 s ___ ________________ M - S
____
96 Nov’08 —
96
M- N
97% Se p’08 —
97% ____
M- N
i
'08, 3
Q-J
Peo Gas L&C 1st 6 s . .19 4 3 A - O {118% Sale 118% 118%
3
'08, 4
103% 103% 103%
12 + 4 10 + 4
Refunding g 5s____ 1947 M - S {103
10
’08, It*
103% 103%
Q-J
6
Chic Gas L&C 1st 5a 1937 J - J 103% 104
15
'08, 1%
Q-J
102% 102% 103
2
Consum Gas 1st 5 s . 1936 J - D {102
•08. 3
100 Sep’08 . . . 12
12
-„ Q-l
M ut’l Fuel Gas Ist5sl947 M - N
'08. 11*
1
94%
94%
6
Q-J
6
South Side Elev 4 H a .1924 J - J
94
94%
-08, 3
3
100% 100%
Q-l _
8
8
Swift & Co 1st g 5s___ 1914 .1 - J 100%
85 Oct’ 08 —
J-J July "08. ■
6
80
60
Union El (Loop) 5s___ 1945 A - O
J-J Jan '0 9 ,4
114 Nov’04 —
6
6
Union Pacific conv 4 s .1911 M - N
Q-J Oct ’08, 3T
47 Oct’ 08 —
*8
8
United Box Board col6s’-.'b
{56
Q-F Nov '08. 2
90 May’07 ____
8
8
W est Chic St 1st 5s___ 1928 M - N
J-J July "08, 21*
68% Sep’05 —
6
Tunnel 1st 5s_______ 1909 F - A
Q -M Sept *08, 2
Debenture 6s_______ 1914 J - D
73 June’07 . . . .
6
80% Jno’ 08 ____
Q-J Oct t)8, H*
Consol g 5s rets____ 1936 M - N
0+ 1
Sept 5 1904
87 Dec’06 . . . .
W es D lvC ltyR y 4 H sl9 32 ■1 - J
Began buslne S3
6
Q-J Oct '08, 1»*
Western Stone Co 5 s . .1909 A - O
85% Jly’08
0
Note.— Accrued Interest must be added to all Chicago bon
f N ov. 2 7 (close ot business! tor national banks ana N ov. 28 (opening 01 business)
-> aid and asked prices; no sales were made on this day.
State institutions, t No p rice Friday; latest prloe this week, a Due Dec. 31. b Due June, -.i Includes special dividend ot 3 0 % p a ia iJ o o . 1
» Capital and surpraa to
1906.
k Capital Increased from 5300 ,00 0; a stock dividend of 33 1-3% being declared In part payment therefor.
In c r e a s e d ,
q Dividends a re paid Q-J. with extra paym ents Q -” .
5 A s ot date Sept. 1 1908.
sA s of Sept. 23 1908.
--«•
TH E CHRONICLE
D e c . 12 1908. J
Volume of Business at Stock Exchanges
TRANSACTIONS AT THE NEW YORK STOCK. EXCHANGE
DAILY. W EEKLY AND YEARLY.
Slocks
Week ending
Dec. 11 11)08.
liallroad.
etc..
Bonds.
State
Bonds.
U. S
Bonds
1 5 2 5
Electric Companies
Bid Ask
Chicago Edison Co 5 « Ch Icage list
28
e Kings Co El L&PCo 100 126
Narragan(Prov) El C o .50 * a x .m 90
N Y & O El L &PowCo_10 )
40
37
69
72
Rrefcrrpd __________1 0 0
60
Unrted Elec of N J ___ loo
l« t g 4s 1949___ . .J - D
m
7 if*
Indus (rial and Mi seel
Bid Ask
Consol Car.. H eatin g..1 0 0
20'
25
Cons ity Lgt&Kefrlg.lOO
“TT
7
Consol Rubber 'Lire..1 0 0
20
271*
Prelerred __________ 1 0 0
3712 40
Debenture 4s 1951A&U
4c?
Cons Steamship Lines loo
2c.
167* 17
Coll tr 4s 1057 rctsJ&J
Com Prod Ret See Stock Exc list
8i4
8!|
eCruclble Steel_______ 1 0 0
681? 59
(Preferred__________ loo
Ci mberland Ely Copper.5
*8
81*
'’ Diamond Match C o-100 1231- 125
*B(
Dominion Copper............10
*4
*31*
Douglas Copper_____ ,_ 5
8**
Econ’y Lt <St P (Joliet, 111)
1st M s 1 g 5s 1 0 5 6 .J-D § 921? 95
Electric Boat_________loo
22
20
Preferred ________ loo
60
75
Electric Vehicle______loo
3
Preferred __________ loo ____
6
Empire Steel__________ 1 0 0
12
7
Preferred . .
.
loo
48
52
(Federal Sugar of N Y Ser Stk E xllst
^General Chemical___ loo
60
65
^ ePreferred__________ 1 0 0
981?
Goldfield Consol Alines. 10
*8?*
9
*3S
Gold Hill Copper_______ 1
>2
Greene Cananea_______ 20
m
ill*
Guggenhe'm Explor’n lou 189 190
etlackensack Water Co
Hot g 4s '52 op ’1 2 ..J -J
86
89
Hall Signal Co_________ 1 0 0
35
40
Havana Tobacco C o .. 100
9
11
Preferred___________ loo
18
20
1st g 5s June 1 '22.J -D
60
65
Hecker-Joncs-Jewell Mill
1st 6s 1922_________M-S 100
Her’ g-Hall-Mar, n e w .100
35
45"
Hoboken Land & Im ploo
e5s 1910___________ ,M-N
101
Houston Oil__________ 100
6
7
Preferred __________ 100
30
40
Hudson Realty_______ loo 100 n o
elugersoll-Uaud com . 100
70
ePreferred _________ 1 0 0 *'J0
Internat’l Bank’ g C o.100
90
95
Int nl Aler Mar See Stk
Exc list
Intem at’l Nickel____ 100
98 102
Preferred __________ 100
85
88
1st g 5s 1932____ A&O
88
85
International Salt___ 10 j
17
15
1st g 5s, 1.951.____ A -o
55
65
lntemat'1 Silver_____ loo
12
8
Preferred __________ 1 0 0
60
05
1st 6s 1948________ J-L §10U12 10S
Lackawanna Steel___ 1 0 0
52
49
Lanston Monotype . . . 2 0 *12 5* 13
Lawyers' AltgeCo____ 100 225 235
eLeh <S> W llkes-B Coal 50
90 105
Lord & Taylor_______ lou
l-'o 135
Preferred __________ 1 0 0
99 102
eLortllard ( P ) , p r e f..lo o 125 135
Madison Sq G a rd e n ..lo o
40
34
2d 6s 1919........... .-M - N m s
____
eManhat Beach Co___ lou
n2
6
Manhattan Transit____ 2 0
*21*
21*
Mitchell Alining_______ 10 *
l4
Monongahela R C o a l..5 0 * 61*
Preferred ___________ 5u * 25>*
Mortgage Bond Co___ 100
9712 10212
Nat Bank of Cuba___ 100
98
103
National Surety______loo
135
Nevada Cons’d C opper.6 *2012 205*
N ev-Utah Alin & S m - .l o * 27*
3
eNew Central Coal____ 20
40
63
N J Ter Dock & I m p .lo o
NY Air Brake 6s See Stck Exc list
N Y Biscuit 6s 1911-M -S 100
eNew York Dock____ 100
33
ePreferred__________ 1 0 0
80
N Y Altge & Secur> ty .1 0 0 140
N Y Transportation___ 2 0
4
3
NUes-Bem-Poud c o m .100
99 102
Nlplssing Alines___ _____5 *10ij id s
eOntarlo Sliver_______ 1 0 0
4
312
Otis Elevator c o m . . -lo o
37
41
P r e fe rre d ______. . . l o u
94
97
Pittsburgh B r e w in g ...00 * 18
Preferred ___________ 50 <____ 40
Pittsburgh C oal.See Stk Exc list
Pope Alanulacturlng.lOu
1st preferred_______ loo
~
30
2d preferred_______ 1 0 0
3
1
Pratt & Whitu p r e f ..loo
95 1021 *
Realty Assoc (Bklyn) loo 135 140
Royal Bak Foivd com 100 145 152
Preferred___________ 1 0 u 107 103
Safety Car Heat & L t .io o 122 120
Seneca Alining_________ 25 * 55
60
Singer Alfg Co________ 100 485 500
Standard Cordage___ 1 0 0
1
34
1st Ai g 5s '31 red .A -O
23
27
Adjust Al 5s Apr 1 1931
2
21,
Standard Coupler comiuo
25
35
Preferred ________ . 1 0 0 100 n o
Standard Aiming Co__100
12
13
Preferred __________ 100
45
43
1st 5s 1930...........-AI-N
81
80
Standard Oil of N J ..1 0 0 680 685
Swift <5e Co-See Bost Stk Exc list
1st 5s 1 9 1 0 -1 9 1 4 ...J - J §10014 ____
eT exas* Pacific C oal-100
75
90
Title Ins Co o f N Y . . . 1 0 0 115 125
Tonopah Alin (N evada). 1
♦63S 6*S
I'renton Potteries comlOO
4
8
Prelerred, new_____100
50
55
Trow D ir e c t o r y ...___ 100
30
40
Union Typewriter comlOO
60
65
1st prelerred_______ 1 0 0
109 112
2d preferred_________loo 100 108
United Bk Note Corp__50 ♦69
01
Prelerred ___________ 50 *53
50
eUnlted Cigar Alfg.pf.100
95
97
United C o p p e r .._____ 100
13*4 141*
Preferred . . . . _____100
U S C asu alty.. . . . . . . 100
200
U S Envelope com ___ loo
40
60
ePreferred __________ 100 100 103
U SSteel Corporation—
Col tr s f 5s ’51 opt ’l l §112*4 11»|
Col tr s f 5s ‘51 not opt §11234 1181,
U S T it Gu & lndem .100 __ 50
60
eUtah Copper Co-See Stk Exo list
Waterbury Co, c o m ..1 0 0
P r e fe rre d ___ ______ 1 00
Westchester & Bronx l i t
6c Mtge G u a r.. . . . . 1 0 0
160
Western I c e .. . . . . . . . 1 0 0
Westlngh Air B r a k e ...5 0 *11134
W est El & Alfg 5s-»Se# St Exc list
White Knob A l i n . . . . .1 0
*'*
Preferred . . . . __. . . 1 0
**8
Worthing Pump pref.100 108 u i
l-erry Companies
l ij
Brooklyn Ferry stock 10U
B & NY 1st 6s 1911J J »92
$3,304,500
$39,000
089,702 $58,864,700
Saturday__________ 30
$3,000 N Y & E R Ferry stk .100
4.193.000
06,000
714.236
64,277,350
Monday____________
01,625,000
64.000
1st 5s 1922____ ..M - N
5.389.000
663,075
Tuesday.._____ . . . .
231,500
7,629,000.
96,731,700
T .0 0 0 N Y <5c Hob 5s day 46 J-'D $931"
1,060,767
Wcdnosday . . . . ____
Hob Fy 1st 5s 1946M-N 5105 '
8.263.000
45,500
87,939,250
035,025
Thursday_____ - ____
6.492.000
64.000
90,723,900
1,005,289
Erlday______ . . . . . .
............ N Y & N J 5s 1 9 4 8 . J-J §95
20
10th & 23d Sts F erry.100
1st mtge 5s 1 9 1 9 ..J -D §50
$540,0001 $4,000
5,008,784 $400,161,900 $35,270,560
T o ta l......................
22
eUnlon Ferry1s t o c k .. 100
SO
elst 5s 1920............M -N
Jan. 1 to Dec. 11.
Week ending Dec. 11.
Sales at
New York Stock
Short-Term Notes
1908.
.
1907.
1907
1908.
Exchange.
Am Clgser A 4s T 1 ..M -S 597is 973.
Ser B 4s Aich 15 ’12M S §96>4 963j
5,068,784
3,291,243
183,851,237
191,246,707 Amer
Stocks— No, shares—
Light & Tr 6s— See Gas Sec
Par value__________ $460,161,900 $285,058,500 $16,116,427,000 $16,572,408,600 Am Tel & Tel g 5s 10 J-J § 1007* 101
$2,200
$5,300
$141,000
Bank shares, par_____
$408,100 Atlan Coast L 5s ’ 10.,M-S SlOOH luO>
Bonds.
Balt & Ohio 5s 1 9 0 9 .M-S § 1001* 1001
$4,000
$12,000
$851,550 Ches
Government bonds__
$520,820
ft O hio6s JU-; 10J-J §1021* 102'
540,000
. 662,500
67,175,300
80,214,000
Chic
& Alton 5s 1 9 1 2 .J-J §9J*4 10
14,299,500
35,270,500
900,364,700
432,817,300 Chic R
RR. and mlse. bonds..
1 e'e Pac 6s ’OOA-O §10014 1007*
Chic
&
W Ind 5s TO.F&A §100'. 100
Total bonds_______ $35,814,500 $14,974,000
$500,844,160
$081,099,520
70
65
Cln H am & D 4H s ’08 M-S
C C C & S t L 5s. June ’l l §10034 L01
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
Consol1Gas 6s 1U 09..F -A § lOOlfi 1003,.
EXCHANGES.
Erie 6s, Apr 8 1911__A-O 100 102
Inter!) R T g 6s 1911 Al-N §1021? 1023j
5s Mch 1 9 1 0 ........... M-S §9J«*4 10 ,1*
Philadelphia.
Boston.
K C Ity & Light 6s ’ 12 M-S §981- 9 /
Week ending
Kan C So g 5s Apr ’12.J-J
>4 9*14
Bond
Unlisted
Listed
Bond
Listed Unlisted
Dec. 11 1908.
Lack Steel g 5s 1 9 0 9 .Al-b §9934 iooi*
shares. t salct.
shares.
sales.
chares. shares.
8
5s g 1910.................. M-S §9634
Lake Sh & M So 5s’ lo F A §1007£ 10HS
4,585
$26,168 Lou & Nash g 5s ’ 10.A1-S § 10l)7s
17,404
18,985
$127,000
Saturday_______ . . . . 2S.160
4,461
75,300
9,535
120,000
11,026
30,565
Monday_____________
Mex Cent 6s July 1 lo io §081 100
43,200 Mich Cent 5s 1910___ F-A §1007 loll*
15,221
3,931
9,023
88,000
Tuesday____________ 28,074
14J) 83
121,090 Minn & St L g 5s ’ l l . F - A §95
15,624
24,339
202,800
6
Wednesday__________ 44,525
3,474
77,400
17,095
276,000
12,835
29,575
Missouri Pacific—
Thursday___________
49,506
6,084
217,900
12,804
295,500
Friday______________ 27,788
68 FeblO ’lOccnvop F-A §100 101
NatofMex 5sextto'09 A-O §100 1001?
36,518 $561,058 N Y Cent 5s 1910____ F-A §1007* I0H«
80,897 $1,109,300 133,160
Total ...................... 188,6871
N Y C Lines Eqp 5s Tu-pj 643*% H*%
N Y N H & H 5s ’09-’ 12 §100 102
Norf & West 5S 1910M-N §100*8 101
Pa R R 5s Mch 15 TO Al-S §1007* 1011*
Public Service Corp 5s— Sea Si Rys
A weekly review of the Outside Market will be round on a preceding page.
StLM S’east 4 )^s ’0 9 . J-D §100 I00I4
South’n coll tr 5s ’0 9 . A -0 §997* tool*
Street Railways
Bid
Street Railways
Bid Ask
South Ry g 5s 1 9 1 0 ..F -A §9512 96
Pub Serv Corn N J (Con)
Southern R y 6s 1911.M -N (99U 10J
New York C ity
20
10
J C Hob & Paterson—
Tidewater 6s, 1913, guar § 100*4 101
Bleeck St & Ful F s t k .100
65
75
4s e 1049............. M-N §72
73
U S Rubber g 5s ’0 9 . M-S §lu01* lh034
-e 1st mtge 4s 1950-J-J
122
So J <?as El& T r a c .1 0 0 * 1 2 0
Wabash 5s. May 10 1909 §99 10)
c B’ y & 7th Ave s t k ..100 120 140
93 100
Gu g 5s 1 9 5 3 ...M - S §97
Westlngh El&M 6s 1910 §100 10034
0 I'd mtge 5s 1 9 1 4 ..J-J
No Hud Co RyOs’ 14 J-J §105 108
Con 5s 1943 See Stock Exc list
Railroad
5s 1928..................... J-J §104 108
Chic Peo & St L pref.100
B ’way Surf 1st 5s gu 1924 §99 104
8.) 120
Ext 5s 1024_____M-N § 93 100
Deposited stock_______
e Ccnt’ l Crosst'n s t k .. 100
l2 ll2
95 I 10
Pat City con 6s ’31 .J-D §117
11*
e 1st mtge 6s 1 9 2 2 .Al-N
Undeposited stock____
8512
2d 6 s . .1914 opt A -0 § 1 0 0
Prior lien g 4 U s ’30Al&S
e Con Pk N & E R stk 100 *35l2 70
58"
90
50
So Side El (Chic)
See Ch Icago list
48
Con m tg g 5s 1 9 3 0 .J&J
e Chr’t’ r & 10th St stk 100
6U
105
Syracuse H T 6s '46.A1&S 101
Income 5s, July 1 9 3 0 ..
Col & 9th Avo 5s See Stock Exc list
Trent P & H 5s 1043. J-D §95 100
Chic Subway__________ 100 *22*' 23
Dry D E B & B—
95
95 100
90
United Uys ot St L—
Ft VV & Den Cy std-.lO O
c 1st gold 5s 1U 32..J -D
23
35
60
231? Nat Rys of .Mexico—
Com vot tr ctls_____100
e Scrip 5s 1914-------F-A
63
e P referred____ ___ 100
Eighth Avenue sto c k .100 200 270
Prl lien 4 H s '57 ( w l) j - j §901? 9U2
03*8
84
90 100
Gen M 4s 1977 (wl) A-O §82
e Scrip 0s 1914____ F-A
Gen 4s 1 9 3 4 ..See Stock Exc list
150
e 42d & Gr St F’ y stk . 100 215 240
UnltKys San Fran See Stk Exc list
North’n Securities Stubs. 14)
36
38
30
Pitts Bess & L E _______ 50 *33
30
. . . . Wash Ry & El Co____ 100
42d St Al & St N A v e . 100
70
84
85
Preferred ___________ 50 *65
99
Preferred __________ 100
e 1st mtge Os 1 9 1 0 .M-S §96
86
8712 eR&llroad Securities Co—
60
5!)
4s 1951.......................J-D
’ 2d Income 0s 1 9 1 5 .J-J
III C stk tr cfs ser A '52 Z8812 91
Intor-Met— See Stk Exch an?e list
Gas Securities
Seaboard Company—
Lex Av &PavF 5s See Stk Exc list
45 s48
New York
1st preferred_______ 1 0 0
Aletropol St Ry— See Stk Exc list
Cent UnGas 5s g ’27.J& J 1 00 103
Com & 2d pref-6'ee Balt Exc list
Ninth Avenue sto c k ..100 160 190
Seaboard Air Line—
Con Gas (N Y ) — See Stk Exc list
40
10
Second Avenue stock. 100
96
94'
Coll 5s ext May ’ l l M-S
e Mutual Gas__________ 100 147 155
95 100
e 1st mtge 5s 1909-M -N
New Amsterdam Gas—
Union Pacific 4s See Stk Exch fist
80
77
Consol 5s 1948____ F-A
1st consol 6s 1 0 4 8 ..J-J § 101'2103
e Sixth Avenue stock-100 118 135
Industrial and Miscel
N Y & E R Q as 1st 5s’ 44 J-J §104 108
b5
Sou Boulev 5s 1 9 4 5 ..J-J §00
Adams Exp g 4s 1947 J-I) §9D4 91*4
Consol 5s 1945______ J-J §95 105
95
So Fer 1st 5s 1919. _A-() §85
Ahmeek M in in g ..____ 25 115 125
40
N Y & Richmond Gas 1 0 0
35
Third Avenue— See Stock Exc list
Nor Un 1st 5s 1 0 2 7 .. M-N §85
Alliance R ealty_______ 100 1121? 117*2
90
90
70
Tarry YV P & M 5s 1928
e Standard Gas c o m ..1 0 0 n 00
Allls-Chalmcrs Co 1st mtg
80
75
YkersStRR5s 1946 A -0
s 1 5s 1936— See Stock Exch list
e P referred________ 100 n 00
23 . . . .
28th & 29th Sts 1st 5s '96
1st 5s 1030................Al-N § 1 U0
American Book_______ 100 142 15 >
105
e Twenty-Third St stk 100 250 .125
Other cities
American Brass_____ 1 0 0
95
110 115
Union Ry 1st 5s 1942 F-A §90
American Guide co m .100 190 195
SO Amer Light & T r a c t .100 119 122
Westohest 1st 5s '43 .J-.I
Preferred __________ 100
Preferred __________ 100
u7
99 14 IOOI4
Brooklyn
Col
tr
g
6
%
n
o
te
s.A
-O
Am Graphophone comlOO
20*’
115 118
§98 100
Atlan Ave 5s 1909___A -0
I**
Preferred _________100
m”
§96'2 9812 Bay State Gas_________ 50
53
Con 5s g 1931.......... A-O
1*4
Blngh’ t’n (N Y) Gas YVks
Amer Hardware______100 120 125
95 102
B B & YV E 5s 1 9 3 3 ..A -0
1st g 5S 1938_____A&O §85
AmMaJtlng 6s 1 9 1 4 .-J- D 100 105
95
Brooklyn City stock— 10 ICO )95
Brooklyn Union Gas del)
Amer Press Assoc’n . . l 0 0
9212 100
Con 5s— See Stk Exch Exc list
(6s 1909 See Stk Exch list
Am Soda Fount co m . 100
95 100
Bkn llgts 1st 5s 1941 A -0
Builalo City GasstocklOO
1st preferred..____ 1 0 0
6
7
Bkln Q Co & Sub See Stk Exc list
1st 5s 1947— See Stock Exc list
2d preferred_______ 100
Bklyn Rap Tran— See Stk Exc list
fA m St Found n e w ., .lo o
Con lias of N J 5s '3 6 .J-J §90
96
3912 40*4
86 100
[(Coney Isi & B k ly n ..100
Consumers’ L H & Pow—
6s 1935...................... A&O § 96
SI
99
70
L l»t cons g 4s 1 9 4 8 ..J-J
5s 1938.......................J-D § 1 00
Deb 4s 1923 (W l).F & A §65
100
67
93
F- Brk C & N 5s 1 9 3 9 .J-J
Denver Gas & E'eo — 100 ____ 95
American Surety______50 200
*1
Gen g 5s 1949 o p .M -N
91
American Thread pref__5
"Yu
89
Kings C El 4s— See Stock Exc list
____, Am Tobacco Co c o m . 100 345 36)
. . . . Elizabeth Gas Lt C o .. 100 275
Nassau Elec pref____ 10(1
Amer Typefders c o m .l 00
____ Essex & Hudson G a s .100 124 126
40
36
6s 1944.................... A-O
96
98
Gas & El Bergen C o .. 100
P r e fe rre d _________ 1 0 0
94
61
60
1st 4s 1951— See Stock Exc list
____ Amer Writing P a p er.100
99
e Gr Rap G 1st 5s '1 5 . F-A
3
95 100
21j
N W ’ bg&Flat 1st ex 4 U s
Preferred __________ 100
114l2 116'?
10
18
Hudson Co Gas___ . . . 1 0 0
Stein way 1st 63 1922 -J-.I §103 no
1st s f g 5s 19 op’09_J-J
20
8512 86
Other Cities
Indiana Ltg Co (w. 1.). . .
25
Barney & Smith C a r .100
65
Buffalo Street Uy—
4s Y958 op (w. l.) _F-A
00
00
Preferred___________ 100
1st consol r>s 1 9 3 1 ..F -A §106 108
40
Indianapolis G a s .. . . . 5 0
25
90 120
B cthlin Steel Corp- -SeeS tk Ex list
Deb 6s 1917.............A-O §100 108
90
1st g 5s 1952............. A -0
§86
Bliss Company c o m .. 50 118 125
Columbus (O) St Uy.10U
Jackson Gas 5s g ‘3 7 . A -0 §91
96 100
90
Preferred ___________ 50 118 125
Preferred ................10(1 104 107
Bond & Mtge Guar___ 100 350
85
Colum R y con 5s— SeePhi la list
80
Borden’s Cond M ilk ..1 0 0 120 1Y0'
Crosst’wn 1st 0s '33 J-D 5100
106
85 100
Preferred __________ 100 104 107
70
(Conn Ry & Ltgcoin . 1 0 0
71
Madison Gas 6s 1926 . A -0 §105 1U8
SO
75
Newark Gas 6s 1944__Q-J §128 131
British Col Copper______5
*S14 81?
ePreferred
_______ 10U
____
95
Butte Coalition Mining 15 *27
271?
Grand Rapids R y ____ 100 S59
93
Casein Co of A m c o m .100
e Con g 5s 1948.
2
3
- - - - 851?
§1041; 105
Preferred _________ 1 00
60
Preferred __________ 100
50
lOSU
e Loutsv St 5s 1930. _J&J §108
101
§1021?
Casualty
Co
of
A
m
e
r
.100
130 140
§ 95
Lynn & Bos 1st 5s ’24 J-D
85
18’ j 19**
Celluloid Co..................... 100 127 132
80
0 New Orl Rys & Lgt.lOt)
eC on g 5s 1 9 4 9 ._ .M
46*4
Cent Fireworks com __100
46
15
§1 0 0 '? 102
8
eP re fe rre d ________ 10C
t Joseph Gas 5s 1937 .J 66
P r e fe rre d __. . . . . . 1 0 0
50
95
§92
' Gen M g 4 Hs '35 .See S tk Ex list
3
21*
Central Foundry______100
lelcgr & telephone
North Chic Street 6’ee Ch Icago list
Preferred __________ 100
15i2 17
80
92 100
77
Pub Serv Corp of N J .10U
70
eCentral & So Am er.
70
Del) 6s 1919 op ’01 M-N
69
106 108l2
Tr ctfs 2 % to 0 %perpet
75
99l2
120
Century Realty___ . . . 1 0 0
185 195
110
Coll 5s g notes ’09.At-N §99
Chesebrough Alfg C o .100 610 550
70
60
35
North Jersey St Ry 10C
28
74
City Investing Co____ 100 *70
42
50
§73
1st 4s 1948_____ M-N
95 105
eClaflln (H B ), com __100
104 110
Cons Tract of N J ..I O I
75
76
95
01
elst preferred______100
60
70
1st 5s 1933.......... J-E §104 105
92
e2d p re fe rre d ..____ 100
87
114 116
New’kPasRy 5s '30 J-J §1071S 10S«2
76
65
102
Col & Hock Coal&I pf 100
100
Rapid Tran St Ry.lOC 240 260
90
70
1st g 5s 1917..............J-J f 84
00
1st. 5s 1921...........A-C §106
....
85
Col tr 6s Oct 1 9 5 6 ..J-J [ 95 101
98
Q Per share. { Buyer pays accrued Int. a Ex-rlghts. b Basis. 0 Sells on S
Stk. E x ., but not very active, n N om . s Sale price. «Bx-<llv.
Shares.
Par value.
loll*
_ _ _ _ _ _ _ _ _ Outside Securities_ _ _ _ _ _ _ _ _
*
BOSTON STOCK EXOHANG-E— Stock: Record, Daily, Weekly and leariv
SHAKE EHIC E S --S O T EH It CENTUM ERICHS
Saturday
Dec 5
Monday
Dec 7
Tuesday
Dee 8
IVednesdav
Dec 9
Thursday
Dec 10
Sates
Ol Uu
Wee*
Share
Friday
Dc. 11
l.anyt since
Jan. 1 1908
STOCKS
BOSTON STOCK
EXCHANGE
LrOU'eHL
H lyltesi
Raiiroaus
A tch T op 6: Santa T c . 106
Do prel _________ 101
Boston & Albany___ 10V
Boston Klevated_____ IOC
Boston cV Lowell_____ 10c
Boston & Maine_____ 1 0 0
983S *9S18 9S3
98
OS
155
09Vi N’ ov-'.V
67', Feb 11
1013.; 102 102 *102U 1031.1
•Ji:
871- Mull 3 102 Dec 1
2i»>
____ 229 230
228
239
1 81'-Jan . . 3 d Dec 11
131': 1301c 131
1301c 1303,
895
125 Feu ) 1 140 ...'ll, i>
228 *220
____ ____
2
HOG1., Feb 1 j i“ 8 Dec 9
133
131 13H> 131
13U.1
160
114 Oct 2 : 140 Jau 2
____
150'c *151
1
____
300 *300
____ *300
4 Boston it, Provideuce. 10V '-84 Jan L 201 AoVlO
11
11
111- *10
11
n o Dost Suburban El C o s ..
‘J iVich
13 Men i <
59
50
50
*50
7
59
Do
prcl_______ _____
4 5 Jan ::i
•
‘ 8 N ovi /
101 - * ____
101?
1012 101 40 Boston A Wot Idee Coe___
81- Nov 1 .
17 Jan 2 .
6o*’4 503 j 50
50
479
61
Do
pref____________
GUI".l- 11 |.
151 *150 151
45 Chic June R y & U S Y .1 0 0
15114 15U,
151V, Dec 11
Last Sale 120 Nov’08
Do
m et__________ 1 01
1201.1
102 Jan It 120 i,ov' 1
103‘.i June'OS
Don & Mont. Class 4
100
1331.1 Oct’OS
*134
Conn & Pass Riv prel.100
*202 208
100 Connecticut R iver___ IOC
*262 268
263 203
ioJ Dec ;
8 Fitchburg, nret_______ IOC 117 Jan : 123 Nov 27
132
♦____ 132
131 131
131 131 *131
82
S2
190 Ga R y ft h.eotric___ 100
79
79
79
8 OI2 801*78
*7712 79
80
80
0/
Apr 21
82 Dec 11
Dec’OS
*82
*82
Last Salt 82
Do
p,e£___________100
*32
1l
Oct K
82 No Vi 4
193
Nov’OS
Maine Central________ IOC
*190
1U3 N ov 2 1
1234
12
12V,
12
*12
Mass
Electric
Cos____
100
12
12
12
S31
*12
L,3.i Nov2f
13
12
12
8V,Jan i
58
Do
pref___________100
58198
58
593,, *58
*58
59
59
04 Not IT
*5812 00
59ic
58
40 Jan
868 N Y N H * Hartford. 100
157 158
158 1581? 159
159'c
153 153
158 158
101
Nov !
157«2 158
Nortnern N i ; _______ 1 ov 140 Jnc l:
140
Auv’O.y
Norwich & W or prcl.lot. -00 Apr t
205
Oct’OS
11 Old Colony___________100
*192
____ *19512
*192
*193
175 Jan 11 1901, Dec
195 1901,, *197
33
34
34
*33
34
33
45 Rutland pref_________ 1 0 0
34 Dec £
*32
33
' 5 Jan 1.
33
94196 Deo ;
941- *94
158 Seattle Electric_______ 100
70 Feb li
913.1 95
94
*93
94
95
9433 943s *94
Do
pref___________100
101 101 *10012 101
40
883, Jan 1 10.’ Dec ;
102 102
10U2 10112 ♦lOOli 102
101 101
1101- Men 2 186-s iNovi-:
1797s 1813s 1803, 181
1811- 182ic 183 1831? 183'4 1843, 1821- 184V, 6.728 Union Pacltlc________ 100
07-,; -Not t ,
Do
pref___________ 100
783, Apr
9519473 947s
*941- 9512 *941- 9512 ♦OIU 951- *91171
Vermont ft Mass______100
150 Jan 13 lvl Nov3c
*101
Last Sale 161 Nov’OS
*161
*161
70 Jan
o il- Sep 19
90
891265 W est End S t_________ 5o
90
*8812 90
8912
9012 90
9012 9012 90
90190 Jan 2 i 10 Dec 4
Do
pref___________ 50
no
n o *110
110 110
no
no
*109 111
158
110 110
Wore Nash & U och-.IUO 138 J’ly y 140 iuun3
140
Sep'08
Miscellaneous
35 Nov24
13 Jan 3
321.1 3334
323.4 33
3234 33
32
33
331- 6.180 Amcr Agrlcui Ghent..1 0 0
3212
33
3312
90 Nov 26
77 Men 17
Do
prel___________ 100
953,
95
95Vi
232
95
951c
95
95
9519519512 951•> 95
12 Dec V
4 Feb 10
103.1 27.243 Amcr Pneu Service___ 50
93., 113S 1018 107,
lOVi
10
11
101 - 12
1012 H78
23
Dec 7
91Feb
if.
Do
pref___________
50
23
221,
203,i
1
0
.1
1
0
193.1 207g
22
2
B
4
201
2
217,
2012
23
2012
99V, Jan 2 137-3 AUV .
132
*13134 1321- 132 1321.8 132 132*8 1311- 1317S 13212 1323, 132
419 Am er Sugar R efin____ 100
100 Feb 18 132 Nov 9
Do
pref____ ______ 100
1S3
129 130 *1291- 1301- 12912 130
12912 1291*129 131
128I.J 129
12834 1291., 129 12914 12812 1291s 0.112 Amer Telep & Teleg . . 1 0 0
99 Jan 2 1321- NOV IV
129 12912 1283s 129U 1281- 129
323, Dec lv
10 Jan 2
31
1,355 American W oolen____ 100
31
31>2 323,
31
*3114 31*4
31>4 321,
31
*3012 31>2
Ubl? Nov 27
773a Feb 19
951c
Do
pref___________100
95
95
95
95
951.1
95
951.,
917
95
95195*8 9514141 - Dec 3
41
4141o
*414
Boston
Land_________
l
l
5
Jan
1
Last
Salt
Dcc’O
S
*4l,|
*4'4
* 41.1
l 12
961-Jan 11 128 NOV 2/
20 Climb Telep & T eleg.100
1271- 1271- 12712 1271-:
*120 1271- 1273.4 12734 *127 129 *127 129
21V, Dec V
21
1434 Jan 6
21
20
20 Dominion Iron & Steel___
*1912 213| *1834 19 S4 *19
♦21
22
21
*20
81, Nov 14
8
8
4Vj Mel) 13
8
8
8
8 I.1
8
1,485 East Boston Land_______
8
83g
8'4
8 I4
SI4
240
240
8 Edison Elec Ilium ___ 100 201 M cbli 263 Nov 28
*250 255 *250 255 *235 250 *235 250 * ____248
159 100 *158
159
159 General E l e c t r i c .___ 100 111 Jan 2 102 Dec 2
15812 1581- *15812 160
15712 158
563.i 5C3|
503,1
49 Moil 23
5 3 I2 M aylf
6 0 I2 661?
5612 567,
1,079 MassachusettsGasCos 1 0 0
56l4 5012
57
*50
57
88
*87
90 Nov 7
77 Jan 2
88
87*2 87‘8 871- 8734 871c
871;
Do
prel___________ 100
*87
207
*87
88
207117 Mcrgenthaler Lino___ 100 192 Apr 16 215 N ov 7
215 215 *213 215 *214 215 *214 215 * ------ 2147, ♦___
234 *214
2
♦2
23,
3 Oct 5
23,
*214
1 Mch 2
234 *2
21.,
200 Mexican T elep h on e.. 10
*2
234
78 Nov2
73
*70
*70
73
74
72
73
74
18 N E Cotton Yarn____ 100
40 Mch 5
*73
*73
75
*73
90
90
90 Nov IV
90
90
893.i 893.1 90
Do
pret___________100
75 Mch 2;
90
90
151
90
90
*89
125 125
120 1201., 127 127
127
1271158 N E Telephone_______ 100
105 Jan 4 128 N o v i.
125 125
125 125
77 Dec t
7512 75177
76
77
80
77
77
5H- J'ne27
172 17212 17212 17212 172 17212 173 173
165 Pullman Co___________100
47 " Jan 2 1741- Nov 1
173
173
172 172
101- Nov26
IOI4 IOI4
10
10
93.1
9 Apr 10
*10
101 W4
33 Reece Button-Hole . 10
*10
IOI4
*10
881-Jan •. 10812 J ’ly 31
905 Swift & C o . . . ............... 1 0 0
102 10212 102*4 10234 IO2 I4 IO2-4 102-3 103'*s 1031.1 1031? 1031, 10331
*9‘2
*22
23
24 Oct 17
20 Jau 3
23
23
23
11 Torrlngtou, Class A - - 25
*22
231- 231- ♦22
23
23
26V, Oct 20
33 May2:
Do
pret___________ 25
20
20
20
113
*25
27
2512 251- *2412 2512512
25*2
2
*1121-Jail i8
*112
li4 Mch 23
2
178
Dcc’OS
Union Cop L ’d & M 'g . 25
*11"
2
*112
1303, 13114 130 131
1141-Jan i 148 J ’ly 14
127 130
129 130
3.633 United F r u it.............. . 1 0 0
1.30*8 131
131 131
023,
Nov 13
38'2Jan
4
59
583.t 60
5812 OOI4
57
*581,
59
8,208 U 11 Shoe Mach C o r p .. 25
5912 U11.I
001 - Oil’
. 0 Nov 0
24‘s Jan 3
291- 2912
Do
pret___________ 25
29Vi
390
29
291.1 29V, l2S7s
29*4
29U 291,
29U 29l!
6334 Nov 13
543g 55ls
2v Jau i
54s, 55-s
5414
55 17,130 U S Steel Corp_______ 100
55
553.,
5418 543.1
871-Jan 2 114 Nov 13
Do
pret___________100
078
11212 I I 3 I4 112*4 H3I, 11212 1131,
11212 1131J 1121.4 1123.4 1123S 113
91- Nov 13
7^4
4 Feb 2
73,
73.,
*734
73,
* 7*4
8
8
236 West Telep & Teleg__100
718
7180 Sep i
59 Jan l
Do
prel___________10C
85
75
19
75
*75
85
85
7 0 I4 771S *75
7712
7712
*75
40 Nov 9
Westing El & Mtg____ 50
457, Nov’08
197, Feb D
347, Feb 19
4 ii, Sep D
Do
pret_______ ___ 5 0
44
Sep’OS
Alining
12V, Aug 19
1*2 Feb 21
978 10
9Vi 3.527 Adventure Con_______ 25
97, IOI4
97g 10
91.1 10
91.1
9's
914
411- Nov26
24 Apr 23
39 3*380, 391? *39
385,8 385,
39
3914
140 A llo lic z _______________ 25
40
3914
39
39
8518 Nov 7
847, 23,119 Amalgamated Copper 100
45 Feb 19
827S 833,
84>4 85
S333 84
831- 85
83
85
8312
2034 j an 13
30 J’ne 2
261, 1,485 Am Zinc Lead & Sm __ 25
201.1 *251- 26
251- 26
20
26
26
26
2512 2612
63 N ovl3
28 Feb 19
5 A n a co n d a ____________ 25
501? 50131 O
41 ,
3 Dec 9
0 Jan 15
434
4
31- 6,321 A rcadian_____________ 25
3
3*5
31?
37,
4-s
4l)o, Dec 11
14 Jan 2
381- 3912
397,
40-, 15,919 Arizona Commercial. 25
3912 40
391c 397,
38!2 391.1
3 9 I4 40
l * .75
Arnold _______________25
.40 Feb 1-t ,9o Aug 7
1 * .75
1
Last Sale .60
Dec’08
* .75
1 * .75
8 Apr 22
191- Nov 7
183.i 187s
18
18
171- 177S 17i2
171- 1,665 Atlantic ...................... .. 25
181S 1811812 18'10 .25 Oct 7 ,/5 Novlii
.65
.65
.65
.65 * .00
.65
1,030 Bonanza (Dev C o ) ..
.70 * .04
.70
* .05
.70
.01
181, Nov 11
103,
IOI4 Apr 13
1G-'s
lGVt 3,830 BostonCon C i G (rets) El
1034 16?,
16
10
IOI3 101I 6 I4 163,
IOI4
2311 23's 2331 233g 23-->k 2310
11V, Apr 14
5
2314 2378 21}
2 3-s 4,425 Bos&CorbCop&S’ lMg
231 t 23
30 Aug 4
151-Jan 2
2733
27 ~ 27127
207S 273,8 2034 2/lc
271S 271?
27U
271, 4 ,5 7 7 Butte Coalition_______ 15
I I 8 I4 1110 - n o
119
93 Feb 20 130 Aug 1
119
1181- 1191- n&ic 119
9 5 9 Calumet & A r iz o n a .. 10
119
11912 1 20
i‘565 Mch 0 700 Jan 16
080
G75 680 *075 680 *675 680 *675
♦680 685 *075 680
6 Calumet & Hecla____ 25
3V3| N ov 7
35
21 Feb 10
5 Centennial____________ 25
*3H2 35^2 *331- 3412 * 3 3 :- 341.1 *3312 341.1
3412 341? * 3 1
.40 * .38
1 .25 Mch 6 .45 .J'ue <j
.38 * .38
.38
.38
.38
.40
.40 * .39
.40
.40
850 Cons Mercur Gold____
81*4
807S 811- 3,064 Copper Range Con Co 100
837* N ov 9
So*, Deb 18
81
Sl-Ti S2
81'4 813,
811.4 811SII4 817s
103.,
ID , N ov 9
10-8 11
1034 107,,
103,
7 Jan 3
10'2 103,
330 Daly W est____________ 20
1012 101 *1012 11
234 N ov 6
Vlo *214
21«>
*>U *211
*2
23, 2 1-16 2 1-10
220 Elm R iver____________ 12 .99 Mch 6
*2>4
2'S
1734
1734 4,148 f r a n k lin _____________ 25
191- Nov28
61- Apr 22
173.4 181S 18
1734 18
18118*2
1 8 I4
18
IS
104 1051- 10 H2 10412
89 Jan 2 110 J ’ly 30
104 104
103 104
103 104 *104
531 Granby Consolidated. 100
131, Aug 3
11
67, Jan 2
1034 III4
11
111,
11
11V, 0,015 Greene Cananea_____ 20
11
Ills
His 11*4
n>4
27, J an 22
___
l-'s J’ly 2
Last Sale 13.1
Oct’OS
Guanajuato Consol___
5
20U Jan 21
24
24
1734 Feb 17
24
24
24 U
24
24
24's 24V,
245,
24
24
1,560 Isle Royale (Copper). 25
24V| Deo 5
221- 2234 22
10
Sep 22
223, 8,703 Lake Copper__________25
22*2
22
23
231.1 22
23 13 241 (
23U
141- 143,
17V, Jau 14
15
12V, Jau 2
15
143, I 5 I4
15
151- 1534
1512
I 4 I4 15
1,167 La Salle Copper______25
83, Aug 19
63.,
71o
67,
01,
2V, Mch b
7
*7
712
*7 "
7
7>s
555 Mass Consol_________ 25
7U
714
.25 Jan 10 .75 J’ly30
Last Salt .65
.75
.75 * .60
Dec’OS
M atlower_____________ 25
* .00
.75 * .60
.75 * .60
8 Jau 18
4 Oct 15
i,1*
*5Vi
5151510
*514
512 *515!2
395 Mexico Cons M & S . . 10
512
141? Nov 9
83., Sep 22
121
121•> 1234
12'’s
151- N ov 9
141*14
7U Feb 25
1334 14
141 1434 143| *14
141111- ♦14
14
142 M ichigan_____________ 25
73 Nov 7
70
45 Feb 19
70'- 701 70
71
70
70
71
70
055 Mohawk_______________25
701.8
7013 70IS
13, Jan 24
Last Sale .55
Montana Consol O & C 10 .40 Oct 9
Sfov’08
* .50
.60
.00 ♦ .50
.60 * .50
.00 * .50
2 0-4 Nov 13
203,
83, Jan 2
2034 4,700 Nevada Consolidated.
5
2 OV4 203.,
BJI3 191.1
1933 203,
1912 1911912 1078
8 May 19
(UJ
13, Oct 22
0
*0
6V,
403, Feb 19 8U34 N ov 7
80
857,
853., 7,596 North Butte---------------15
851- 861851c
87
85
85'4 S57s
851.t 85*4
1 J’ly.31
.50 Jail 16
Last Sale .60
* .00
Old Colony.................... 25
Deo’08
* .60
* .60
* .00
601- Dec 4
583,
5934
28 Jan 2
59
59
5S33 5S7,
58'c 59
581- 587S 58
4,280 Old Dominion-------------25
58i,s
135
Dec 8
*130
77
Feb
19
130 130
*132
134
132
134
O
s
c
e
o
la
-----------------------25
130 134
132 135
133
500
3D , Dec 2
30
30
30t30'2 307,
301- 4,070 Parrott (Silver & Cop) 10
10*2 J an 11
291- 30
2934
301.1 31
1- M eh ll
* .00
1 * .60
Las! Sale .90
1*4 Jan 25
Oct’OS
1
Phoenix Consolidated 25
1 * .60
1 * .60
90
96
77 Feb 19 100 Aug 1
*90
90
96
90
90
9612
90
80 Quincy------------------------- 25
9612 901c
519 0
03g NOV28
6
0
* 5*4
0
51 2 Mch 26
512
534
6
0
♦ol2
605 Rhode Island.......... .. 25
15, Apr 3
33, Nov 19
21
2
2°,
*2
'2
234
21Santa
Fe
(Gold
&
Cop)
10
*212
27,
♦2
23,
2>2
1.670
*212
234
I /34 18-s
1711914 Nov 9
173.1 18
18
914 Feb 19
18
1812
IS
1814
18
181.1
4,699 S h a n n o n ---------------n_ . 1 0
323,
341331- 3334
333 j
34
33
361- NOV23
33
1R5S 18
19
193S 185S 19
IS "
18
181*
1814
I 4 I3 Oct 17
83 ” 83
S3
84
83
83
88 Nov 7
*83
56 ' Mch 20
85
85
8312 85
195 T a m arack -------------------25
♦83
173.,
17Vt IS
IS
183, 3.007 Trinity------------------------ 25
17
25 Aug 10
121, Feb 19
17
1712
17
1012 17
171,
*14
11I2
137, 14Vi
14
14
1(U- Nov 11
14
14 V,
14
45, Mch.24
14
1334 14
270 United Copper-----------100
Last Sale 30
36 Nov2(!
Do
pret___________100
29
291o
29
393, Nov 13
29*4 30
293.1 2934
291.1 29'c
29V, 1,280 UnltedStatesCoal&OI1 25
9
Meh3l
291.1 293,
447g 45
45
447, 45
45
45
407s Nov 17
28 Mch 6
451, 5,202 U S Smelt Ret & M in. 50
45
44i| 4511
40Vi
46*4 461?
Do
pret-----------------50
47 Nov 11
37 Feb 10
4012 40-^.v 46*3 4034 401.i 403,
461- 3,285
40i2 467,
5*3J
fill
43, Sep 10
45*1 46*4
46
60
Aug 7
46
46^
5
4 OI4 40146V, 2,276 Utah Consolidated___
291- Jan 3
4G12 4634
451? 401.,
47lo
4 7 I4 4714
33,
5 NovlG
313»31?
212 Apr 10
4 35s
314
334
3l2
3*2
1,785 Victoria ---------------------25
*312
3-s
3*2
673
6^4
Cfy
*0
6167g
65g
7
4*2 Jan 2
f734Nov27
6161 ?
410 W in o n a _______________25
152
150
149 149
115D Jan 2 155 Nov 10
150 150 ♦__
150 152 *150 152 *150
89 W olverine____________ 25
23
1
23,
27,
27,
33, Oct 3
W
yandot
____________
23
.50
May26
23,
27s
595
2*4
27,
31
,8
*27S
234
3
93
IOU2
228
13012
220
133
1321c
132
*151
300
*390
*3C0
11
*101.t 111* *1034 i l l *06
59
*50
50
5G
*10
12
13 ♦___
51
50
50
<:49; j
151
*150 151 *150 151
♦____
*981,s
1011.!
22912
1301.1
*220
132
983s
10111
22012
13012
*9734
*1013.1
22011301♦220
133
98
1023,
220113014
9S
*9Si,s
10 M, 1013.1
228 *228
131
131
226
228
133 * ____
iio'-c
300
300
11
*i0-4
59
*50
14
1012
52
50
151 ♦___
12014 ♦____
c Before pay’ t o£ assess'Us calico in 1907.
* Bid and a3keu prices.
d
New stock.
« Ass’t paid.
b
Ex-stock dlv.
utitU/C .O/ / miaous Ycai
<1 )01
ll
Ex-rlghts-
Lowest
r:/i-.Y o<
7934 Not
ISO Dec
11734 K'A
200 J’m
129 Not
285
8
50
16
Oct
J’ly
AllN0 .
128 Dec
993, Oct
ll inhest
1071- Jan
10lC Jau
Feb
162 Jan
231 Jan
lio
May
240
£01 1-eb
15 Feb
tio ..an
28*3.1 Jan
80 Jan
160 can
l'jj . in
244
116
8917.i "
Dec
InO.
Dec
Uet
2 ,8 ')
7
Dec
Oct
201- Jan
7(i- Jau
1901- .Jan
176
Oct
82
Am
1 91 783j
1451,
74
Oct
Not
Not
Dee
Not
Au,
2uu».« Jan
45 Jan
94 .Jan
103 Jan
1821- Jun
93 Jau
179 Jun
u5 Jan
llu Mob
147 Jan
10 Oct
721- Not
3 I2 Nov
91- Oct
93 Dec
105 iJcc
8914 Not
I2 V1 Not
69 O : t
3 Mel
931- Not
121- Oct
31- Oct
185 Not
91 Oct
43 Oct
75 Not
185 Not
1>4 Dec
46 J’m
80 Oct
! 6 Not
Jan
F eb
Jan
33 Jan
137V, Feb
13F! i Jan
134'- Jan
36i- Jan
102'- Jan
4
Jan
115 Jan
25 Feb
UV, Jan
230 Jan
162 Jan
665, Jau
861 - Apr
215 Alch
434 Jan
75 J'ly
90 Jan
126 Jan
137 N 0 .
9 N ot
7612 N g \
20 J’n<
241- Not
1 Oct
10H- Oct
36 Oct
235, Not
22 Oct
79*2 Not
4 Nov
CO Nov
2GV, Not
76 Mat
182
ll
113
22127'2
0 ",
120
69
29
693,
IO734
5, Nov
20 Oct
421, Uec
19 Not
26 Oct
23., Oct
/34 Oct
.35 Sep
01- Oct
.35 Sep
S-s Nov
01 - F'eb
74V, Jan
121 Jan
53 Jan
75 Feb
15*3, Jau
281- May
2 Jan
22 F'cb
.80 Jan
33U Jan
::7
04
149
l.V>
Jan
ja n
88
Mch
20
95
1434
Jan
Jan
Jan
Jan
J’ly
-Ian
Deo
Jan
Jan
Jan
Jau
9
Jan
82 Jan
781- Jan
39i, Jan
10 Oct
198 Feb
89 Oct
635 Oct 1000 Feb
47 Feb
16 Oct
,52 Jan
.25 Oct
105 Jan
44V, Oct
7 l2 Dec
2012 Jan
41, Jan
s4 Nov
29K Mch
6 Oct
151 F'eb
65 Oct
1758 Apr
6*4 Oct
5*4 Jan
2 Dec
111 - Oct
36*2 J&R
---- ----------- ------------- 30 Feb
8 Oct
2*3 NOV
0V, Jan
.49 Nov
M4 Jan
534 Nov
15V, Jan
6 34 Oct
37 Oct
1 Not
534 Nov
30
Oct
12 Sep
18 Oct
71 Oct
834 Oct
>2 Dec
70 Oct
2 Oct
U 2 Nov
71* Oct
120 Jan
21- Jan
63 Feb
181 Feb
35 Jan
c3 Jail
148 Feb
el234 Jan
71 - Jan .
243, Jan
61 Oct
93, Nov
7 Dec
22 Oct
7ls Nov
243.1 Oct
27?, Oct
170
2512 Oct
79
Jan
11s,
14
198
8s*
F'eb
Jan
Feb
Jan
31 -
Oct
r21? Nov
93 Oct
.10 Nov
a
24*2 Jan
9612 Jail
3*2 May
201- Jan
Jaa
Jan
Mch
91 May
13U Jan
70 Jaa
4214
7 7 I4
;
1
i
:
Ex-dly. and rights.,
Dec. '
Boston Bond Record.
1908. |
J-J
A-O
J-J
J-J
M-N
J-D
J-D
A-O
j -j
A-O
A-O
M-N
M-S
M-S
A-O
A-C
j -j
y -j
1023, Sale
90 .........
.........
101
17
96
.........
Sale
132 k 132 k
1
97 k Sale
9 6 3 ,.........
BON U >
BOSTON STOCK E X C H ’ G E
W bkk E nding D ec 11
Ay Low Jlign
Illinois Steel deben 5s___ 1910
4;
601 8O M [90'\ ■ Non-convert deben 6 s ...1 9 1 3
la Falls& sioux C ist 7 s .. 1917
*!783, 1,78s,
Kan C Clin & Spr 1st 5 s . . . 1925
7 112 170
Kan C Ft S So Gull ext 5 s ..1911
3
90*8 102'
7 85
92% Kan C Ft Scott <fc M Os___ 1928
Kan C At So B gen 4 s........... 1934
91
91
Assented income 5 s ........1934
1189 7g 710 Ik
2
95% 107 k Kan C <fc M Ry So Hr 1st 5sl929
Maine Cent cons 1st 7 s ...1 9 1 2
Coils 1st 4 s .........................1912
101 104k Maro Hough & Out 1st Os. 1926
.Mexican Central cons 4 s .. 1911
ls tc o n s in c 3 s ........... Jan 1939
2(1 cons me 3 s...........Jan 1939
97
08 k M icli Teleplst 5 s ................. 1917
Alinne Geu Elec con g 5s 1929
New Eug Cot Yarn 6 s___ 1929
117 117
New Eng Telepli 6 s>............1915
5s........................................... 1910
li
70
82 k
Now England cons g 5 s ... 1945
Boston Term 1st 4 s........1939
OO'kHOOk
N Y N 1 1 & 11 con deb 3ksl95i>
too 1 0 0
Conv deb Os ( c t ls ) ......... 1948
y8 R 9 y
08% 100 k Old Colony gold 4 s ..............1924
Oreg Ry So Nav con g 4s..l94 t>
oreg Sli Dine 1st g Os........1922
48 80 1193
Repub Valley 1st s I Os...191 9
J
1023,
1023,
99 103 k Rutland 1st con gen 4 *3 8 .1941
Rutland-Canadlan 1st 4s 1949
89 J’l y ’ 0 8
85
89
Savannah Elec 1st cons 5s. 1952
118 J’ly ’ 0 8
118 118
Seattle Elec 1st g 5s......... 1930
120 Fou’OO
Terre Haute Eleo g 6 s ....1 9 2 9
99 Aug’08
96
00
Torrington 1st g 6 s ........... 1918
101 Nuv’Ot
97 102
Union Pac R K & I gr g 4 s . 1947
91 D e c’07
20-year conv 4 s ................. 192.
112k J a n '03
United Fruit conv gen 68.1911
lOk
17 253 1 1*8 18
U S Coal <fc Oil 1st s f Os.. 1938
80
8 2 7t U S Steel Corp 10-00 yr 5s. 1963
81 re May'08
W est End Street Ry 4s___ 1916
91
Nov’08 ___ 99 H92
Gold 4 *28 .............................. 1914
Gold ueuenture 4s........... 1910
90 A p r'08
00
90
Gold 4 s ..................................1917
128 k A p t ’08
128 128*3
Western Telepli So Tel 5s. 1932
140 A p r’05
97
97 k 10 0 2 k 1109k* Wisconsin Cent 1st gen 4 sl9 4 9
92
98s, Wisconsin Valley Iso 7 s ..190;
97 D e c’08
High
Uia
Ash Low
913, Sale
91*8
9)»,
933, Sale
93*3
93 7»
V783, Mar’08
170
170 Sale 105
102 *(. Sale 100% 102 *s
92%
9 1 k ......... 92%
9 1 * 3 ......... 91 Sep ’Os
•UOIk D eo’08
1U5 ......... 105 k 105*,
110 Feb’04
101
S e p ’00
104 k Oct ’Ot
112*3 Jan ’03
104 Oct ’07
102 S e p ’ 05
08 k Apr 08
100 J’ne’Ol
117 J’ ne’08
1 1 1 * 8 J’ly ’05
82k
8 1 k 8 l 3, 81 '
1:103 Ocl ’ 07
98*a A u g’OS
100 A p r’ 08
99 k Oct Ot
190*8 Oct ’08
97*3 Alay’07
1,93
1193 Sale 1|93
-T
Q-F
A-O
A-O
VS-N
F-A
Wl-N
iVI-S
J-J
Range
Since
January j
M
j -j
M-S
J-J
M-S
A-O
Nov
AI-N
J-D
J-D
M-S
J-J
J -j
F-A
j -j
j -j
j -j
A-O
M-N
*5 -
00
Am Telei) <fc Tel coll tr 4 s .1929
Convertible 4 s . . . . . ........ 11*36
Am Writ Panel' 1 st s 16 s u 1919
Ariz Com Cop 1st conv Os 1918
Aten Ton & S Fegeng 4 s .. 1996
Adjustm ent g 4 s.......J’ ly 1996
Stamped
...........J ’ly 1996
50-year conv Is..............1965
1o-ye.tr conv 5s.............. 1917
Boston Elect l.c m s o l 6 s .1924
Boston So Bo well 4s............ 1910
Boston co Maine 4 * 3 8 .......... 1944
Boston Terminal 1st 3*38.1947
8ur So Mo ltiv ex Os............1918
Non-exempt Os................. 1918
Sinking luiut 4s................1910
Bntte <6 Boston 1st Os___ 1917
Cedar Rap & Mo H 1st 7 s .1910
2d 7 s ..................................... 1909
Cent Vermt 1st g 4 s..A la y l9 2 0
O 11 & Q Iowa l)iv 1st 58.1919
Iowa Dlv ist 4 s ................ 1919
Debenture 6 s..................... 1913
Donvor Ex ten 4s..............1922
Nebraska Exten 4 3 .........1927
B <fc S W s t 4s................... 1921
Illinois Div 3 * 3 8 ................1949
Joint bonus See Gt Northern
Chic j o lly cfe Stk Yds 5 s . 1915
Coll trust refunding g 4sl940
Cli MU & St 1> Dub D 0 s .. 1920
Ch M <fc St 1» VVls V dlv 681920
Cilices No Alien 1st gu 5 s .l9 3 t
Ohio cfe W Alicb gen 6s___ 1921
Concord & Alont eons 4 s .. 1920
Conn So Pass it 1st g 4 s ... 1 9 4 3
Cons S S I . coll trg48Ctts 1007
Current Elver i s » 6 s ......... 1927
Dot Gr Rap «fo W 1st 4 s ... 1940
Dominion Coal 1st s t 6 s ..1910
Fitchburg 4 s ......................... 1916
4 s .......................................... 1927
HTemt Elk <& Mo V 1st Os.. 1933
Unstamped 1st Os........... 1933
Gt Nor O B A 0! coll tr 4s 1921
Registered 4 s ..................... 1921
WeeK's
kange or
Last sate
lyrics
JYiday
Dec 11
BOSTON STOCK L X O H ’GL
W kuk Knoino D: c 11
1537
N o ra — Buyer pays accrued interest in addltiou to the purchase price lor all Boston Bonds.
Hrice
i n day
Dec 11
S i
J-J
A-O
A-O
A-O
J-D
M-N
M-S
M-S
A-O
A-O
A-O
A-O
J-J
Fly
r.1*
j -j
F-A
A-O
A-O
J-J
A-O
J-J
J-J
F-A
J-I)
F-A
J-J
J-J
J-J
J-J
F-A
J -J
M-S
J-J
J-J
M-S
M-N
M-N
F-A
M-S
M-N
F-A
J-J
J-J
J-J
Weetc’s
Range or
t.asl Sale
Kano*
Mince
January 1
||
Rid
ask Low
High •V© Low High
100 lo o k 100 N oy ’08
97 k 100 k
100 Sj 8aJt» 100 k 100 k 17 05 100%
117 A p r’O117 117
90 Mar’ 08
90
96
109 ......... 1 0 0 Aug’08
100 100
110 Hale 115% 116
4 109 k 116k
90 ......... 90 D ec’08
^7Si y i
87 Hep ’ 08
87
88 k
100 k 102
1 0 2 k .........
U 3 % N o v ’00
101k Sep ’ 06
115 J’ne’08
i 15 115
1|S27g D eo’Ot
74- 1185
............
*jlO 'ilO 1*
1110 A p r’Ot
1; 15 k A p r’O . . . . 1115 k li 15 k
....
101
93
102 D ec’08
100‘s Jan ’07
100k Hep’ 08
1199 k Dec ’ 0 8
7134k Nov’08
9 8 k j ’ ly ot
1,"J6 k J’l y ’08
1112 0 Get ’ 0 8
_____ 102 A u g’07
79 k 1U01
il934 n H k
98 k 98 k
!i96k 1196k
103 1,120
102 M ai’02
98*3 May’OO
104 Dec ’08
yy*i2 Nov’06
*.103s8 X o v ’08
1|l0ti°8 Nov’08
110 J a u ’08
125*4
125 k Sal.- 12 k
v102k D ec ’ 0 8
9 0 k Feb’08
101*8 Hep ’08
102% Jan ’ oo
98 k Get ’08
97
07s,
97 Hale
100 k 105
i!997n1103 k
1184k l!10ii*»
116 117
20 102k 127
1180 103**
90 k 96 k
1 01 *8 l o l k
98*4 09 k
70
073,
it
..................... 109 % A UK’06
- No price Frnlay; latest Old and asked.
102
100 k 100 k
.....................
1, Fiat price.
Philadelphia and Baltimore Stock Exchanges— Stock Record, Daily, Weekly, Yearly
tlm rii i
Saturday
Dec 5
Monday
Dec 7
—>ot
luesaay
Dec S
*er Centum Prices
IVeanes nay
Dec 9
2 Rursaan
Deo 10
Mange Since
Jan 1 lo o s
Sales
A C T IV E 8TOCHJS
ot the
Week ( t o r Ronds and Inactive
Stocks see below)
shares
Ri-idag
Dec 11
Lowest
Highest
Range tor I'reviout
Y ear(1907)
Lowest
Highest
B altim ore
uy
*10
21
I lk
40
38k
10k
10k
4B7s
*12
00
09 k
TO
99
21
Ilk
46
30
10k
I ’k
43 k
12 k
96
70
30
70
30
77
10 k 10 k
20
20
*11 k
38k
10®8
10 k
43
Ilk
06k
09 k
2
04 k
64 k 06 ‘e
43 x4 43k *43
11
ii* « I l k
2 i k 22 k *21 k
09 k
09*4 70s,
4 4 *4
45
45*,
44k 4 8 k
40*4
49 s, 49 k
403,
013,
92 k 92 k
78
99 k 09 k
11
11
♦19 k
* n k 11J4
38k
103,
10*,
43
12 k
06 k
09 a,
38 k 30
1Ok 10s,.
10 k H k
43 k 44 *2
12k 12 k
00
00^
09 k 09 k
06 S
43 k
Ilk
32 s
7 ok
04k
43 k
11
22
70 k
40 k
60
92
40 47l3ln
60*8 61
02
02 k
05"
43 k
Ilk
22
70 k
P H I L A D E L P H IA
im ictlvo S tocks
ALteuheny Val pref....BT’
American Cement........50
Amer Pipe M tg......... 100
Bell Telephone (P a ).100 103
47
Cambria Iron................. 60
Central Coal
Coke. 100
76 k
Consol Trno of N J . . . 100
Diamond State Steel.. 10
Preferred..................... 1 0
Easton C 011 Electric 6.50
44 k 45
Kloo Storage B att....lO O
Preferred................... 1 0 0
Ft Wayne A W V ....... 100
p is ’
Germantown Pass........60
Indianapolis S t........... 1 0 0
Indiana Union T r ___ 100
Insurance Go of N A . . 10
Inter Sm Pow A Obem.60
Keystone Telephone ,.5u
Preferred.....................60
Keys! 0110 W atoliCase.100
Bit Brothers................... 1 0
Little Schuylkill........... 50
Minohi.ll A Scliuyl 1I..50
N H aven Iron A Steel. 6
99 k 100
Northern Central......... GO
North Ponnsylvania..50 100
iV6‘
Pennsylvania Salt........50
Pennsylvania m oo L .100
Preferred................... 1 0 0
43 k
Plitla 00 (Pitts) prof...50
Phil German A N orris.50
89 k oo
Phila Traction............... 00
Railways General........10
7 7e
8k
Husquod Iron A Steel..5
Tidewater Steel........... 10
Preferred..................... 10
Touopah Aiming ot N evl
6%
U nlonT r ot Ind......... 1 0 0
United N J HR A C . . 100 254
45
Unit Trac Pitts p ro f..50
8*1
VVarwiok Iron A Steel. 10 " 8
W est Jersey A SeaSh.50
Westmoreland Coal....5 0
W ilkes Gas A E le c ..100
100 190 k
11
11
20
‘20
* U k 11s,
39
H 'k
10 k
44
12 k
06
09 k
2
65
44
11 >8
2'J Si
70»a
39
103,
Ilk
44
12*3
90 k
7T-,
05
44 *,
Ilk
23
71*10
39
103,
10s,
44
12
90
71k
2>i
05 *„
44 k
♦ Ilk
*2 2k
703,
47 k 43
51 *, 613,
92 k 92k
47
*50
92 k
48
60
02 k
39 k
103,
10k
44
12 k
*J0k
71k
06 Si
^4 Si
in .
223,
71k
32
7 9 ',
100k
li* .
21
113,
*40
40 k
38s, a o
l 0 78 n
11
* 1 0 >4
44
12
00 Sj
72 k
44k
12 v
97 k
74 k
‘J
oa‘ “ 65*10
44 k 4434
I l k Ilk
2 2 k 22 k
70**18 71k
*46
<i8
*47
49*3 49s,
9'2k 92 k
28
*27
100
42
408
380 seaboaru (new)...............100
296
Do 2u pref............. 100
100 United Ry So Electric.. So
Philadelphia
6 American R a ilw ays.... 50
4.049 Cumbria Hteet................. 60
94* ■Electric Co ol America In
l.a o -2 Gen Asphalt tr c t f s ___ 100
Do pref tr ctfs . .. .1 0 0
1.H05
2,730 l-ake Superior C o rp ....lO o
1,569 Lehigh C <fc N av tr otfs. 50
52,39 - t,elugli Valley................. 50
3,411
4,612 Pennsylvania R R ......... 50
1 ,2 0 1 L’hiladelp’aOo (1'ittab). 60
6,170 Philadelphia E lectncL 25
5,290 Phila Rapid T r a n sit. . . 6o
34,151 R eading........................... 5o
lilt*
Do 2 (lp ie f............... 50
1,648
6,9 i _ Union T ractio n ............. 50
2,595 United Gas lm p t........... 50
Welsbach C o .................. loo
P i l l 1.A HE E l 'l l 1A
P H I L A D E L P H IA
Bonds
A l Val E oxt 7s 1910 A-O
A lt A L V Elec t k.s’33.F-A
A m R yseouvSs 1 0 1 1 .J-D
Atl City 1st 5s g ’ lO.Al-N
Balls Ter 1st 5s 1920. J-D
B ergAE llrw lstO s’21 J-J
Uetlile Steel Os 1 9 9 8 .Q-lChoc A Mo 1st 5s 1949 J-J
Ch Ok A G gou 5s ’ 19 J-J
Col St Ry 1st coil 6 s 1932
C o n T racoIN J 1st 6 s .’33
E A A 1st >1 5s 1920 M-N
Elec A Poo Tr stk tr ctfs
Eq II G a s -L ls tg S s 1028
H & B Top con 5s ’26 A -0
Indianapolis Ry 4s. 1933
Interstate 4s 1943 ..F -A
Lehigh N av 4*as ’ 14.Q-J
RRs 4s g ........1 0 1 4 .Q-F
Gen Al 4 k s g . 1024.(4-6
Leh V C 1st os g ’3 3 ..J-J
L e h V ext 4s 1st 1 948 .J-D
2d 7s 1910................. Al-S
Consol Os 1923........J-I)
Annuity Os............... J-D
Gen cons 4s 2 0 0 3 .M-N
Leh V Tran con 4 s ’3.3J-D
N ew Con Gas 5s 1948 .J- D
Newark Pass con os 1930
N Y Ph A No 1st 4s ’39 J -J
Income 4s 1 9 3 9 ...M -N
NoOhioTrac couos’ 19.J.j
Penn gen Os r 1 9 1 0 .. Var
Consol 5s r 1 9 1 9 ... Vai
Penn A Mil Steel con Os.
Pa A N \r Can 5s ’39. A-O
Con 4s 1939..............A-O
Peuu Steel 1st 5 s ’ 17 M-N
Peoplo’s Tr tr certs 4s ’43
P Co IstA col tr 5s’49 Al-S
ConA col tr 5s 1951A1-N
Phil Eleo gold trust ctls.
Trust ccrtlfs 4 s...............
P A E gen. A1 5 g ’20. A-O
Geu At 4s g 1 9 2 0 .. A AO
Pil A Read 2d 6 s '3 3 . A-O
Con Al 7s 1911........J-D
E x Imp At 4s g ’4 7 .A-O
Terminal 5s g 1941. Q-F
L* W A B col tr 4 s ’ 21. J-J
Portland R y 1st 6 s 1930.
Rood R yA L e o n 6 s ’54J-J
Spauisli-Am Ir Os ’27 J-J
U Trac lnd gen 5s’ 1 9 .J-J
U 11 ltys Tr ctls 4s’ 49J AJ
United ltys In v ls tc o lltr
s f 6 s 1920.................M -N
U Trac Pit geu 5s ’97 J-J
Welsbaoh a 1 6s 1 980 .J-D
Wlks-B G A E cou5s’55J-J
B A L T IM O R E
Inactive S tocks
Ala Cons CoalA lio n . 100
P ret.............................. 100
Atlanta A Charlotte.. 100
Atian Coast Lino RR.100
A llan CoastL (Conn)lOO
Canton Co..................... 100
Cons Cot Duck Corp. . . 6 0
Preferred.....................50
Georgia Sou A F la ... loo
1 st prof.......................1 O0
2 d pref.........................1 0 0
G-B-S Brewing........... 100
* Bid anil asked; no sales ou tills day. ”1 Ex.rights.
‘ 29
7934
100
11*4
"20 k
♦ ilk
100 100
11
11
21
21
• ilk i l k
104 k
93
07k
110
k
105k
104 k
02
02
k
85
38k ” 30**
103
103 k
1 1 0 J,
106% 1 0 0 %
08%
98 k
58
103 k
110
110
k
98 k
1 04’,
08%
102
70
120 k
80
4
10
10
30
793,
Jan 2 100 k
FeO12 I l k
Feb 18 2 1
Jan t 12
42s, Mar 0
2 0 k Feb 10
8 k Jan 25
3 k Jail 0
19 k J an 0
3*8 Feb 20
78 *, Jan 2
52*8 Fob20
i l« 18Jan 2
34 k Mar 3
5 k Feb2 ,
412 k.J’lie 9
40^10 Feb 1 1
,i9 Jan 3
37kJan 2
* 4 4 k J ’uelo
73*sJan .
25 J’ne22
Deo 7
D e o il
Deo :
Dec 11
DecH.
N o v li
46 k N ovi
40*4 Nov 7
11 Dee 1 i
11*, N o v . 8
45 N ovi 8
13 Si Nov3U
07 k Nov 1
74 k Dec i i
80 Ma)
7 8 k Nov
JO Nov
24 Dee
hkoct
23*, Jan
18 Jan
15 J’ no
43 k Dee 51 Jan
22 Oct 47*» Jan
7 7g oet
11% .Ian
3 uct
8 Jan
13s, xov 30 Jan
4 Dec 10 Jan
09 Oct 103 Jau
48 k Oct 7 3 78 Jan
j5l l iaN ov 4 x52 Nov 70* *18 Jan
333,
44J, Dec ll
48 k Jan
1238 .Nov 1 0a18 Nov
0 Apt
24 k Oct U •(12 Nov 420*8 -May
V 1*8 Dec 1 i 3 5 38 Oct O0:*» Jau
44 k Dec 5
5 0 k A p r23
03 ‘a N ov2 .
28 Nov it
32 k Oct 47 Jan
*1L7q .no* 00% Jan
00 k Oct OOQ Jan
25 51 ay 30 Feb
B A l.li .llO i k g .
100k
120
101k
1003,
103 k
77 k
84 k
29
72.
ISO
247
05
90
8k
7k
28
26
22
20
80
09
07
3%
Bonds
Anacostla A Pot 5s........... 101
101k
Atl A Oh ext 4 ks ’ 1 0 .J-I 1 0 0 k 102 k
Atlau C L B E4al962AI-b
95k
Atl Coast L(Ct)ctfs 5s J-D 100
79-.
79
Ctfs of inilobt 4 s ....J -J
80
84
5-20 yr4s 1925......... J-J
Balt CPass 1st 5 s ’ l l M-N 101k
108
Balt Fundg 6 s .1910 M-N 107
Exchange 3 * 3 8 1930 J-J
97 k 98
Balt A P 1st Os m l ’ l l A-O
Balt Trac 1st 5 s . . ’20 M-N
No Balt Div 5s 1042 J-D
Cent’ l Ry cou5sl932 AI-N
E x tA Imp 6 s .1932 M-S
ChasCity Ry 1st 6 s ’23 J -J 106
Cbas Ry G A E l 6 s ’99 Al-S
Cbarl C A A ext 5 s .’09 J-J 106
105
2(1 7 s ................1910 A-O
City A Sub 1st 5s. . ’22 J-D 110
110k
City A Sub( W a s )ls t5 s ’48 102
104
Coal <fc I Ry 1st 6 s ’ 20F-A L0 2 k 103
Col AG rnv IstOs.lOltiJ-J 110
114
Consol Gas 6 s . . . 1910 J-D 104 k 1043,
5 s.......................1939 J-D
1 1 1 k 112
Ga A Ala 1st ecu 5s ’45 J -J 104 105 k
G a C a rA N 1st S a g ’29 J-J 1003, 107
Ueorgia P 1st Os. . . ”22 J-J 117
118
GaSo A Fla 1st 6 s 1945J-J 107
L07 k
G-B-S Brew 3-4s 1951M-S
47
47 k
16
2d lucerne 5s 1951 Al-N
17
Kuoxv Trac 1st 5 s ’28A -u 104 k
LakeR El 1st gu5s’42M-S 108
95
Macon Ry<&Ltlst5s’63 J-J
96
953, 96 k
Memphis St 1st 5s’ 45 J-J
MetHt( W ash)lst5s’25 FA 105
79% 793,
Alt Ver Cot Duck 1st os.
90
N ptN & O P 1st 5s’38 M-N
General 5 s .... 1941 AI-S
Norfolk St 1st 5 s ’4 4 ..J-J ibs" 103
North Cent 4 *ss 1925 A-O 105
Series A os 1 9 2 0 ....J-J 114
117
Series B 5s 1926.......1-J 114
Pitt Un Trac os 1997. J-J 105
Poto Val 1st os 1 9 4 1 ..J-J 109
Sav Fla A W est o s ’34 A-O 107
6 3 ^ 633,
Seaboard A L 4 s 1950 A-O
Scab A Roan 5s 1920. J-J 107 k 108
Soutli Round 1st 5 s..A -O 1 0 4 k 105 k
94*., 95
UEl LA P I s t 4 k 8 ’29 M-N
853, 86
Un R y A El 1st 4s ’49 M-S
Income 4s 1949........J-D
63 k 54
Funding 6 s 1 9 3 0 ...J -D
80 k 803,
Va Aliil 2d ser Os ’ ll.A l-S 104
3d senes 6 s 1 9 1 6 .-AI-S 105
4th ser 3-4-5s 1 9 2 1 .M-S 104
5th series os 1 9 2 6 .M-S 105
93
Va (State) 3s n ew ’3 2 .J-J
98
Funddebt2-3s 1991. J-J
95
W est N C cou 0s 1914 J-J 109
110
W esVa CA P 1st 6 g’ l 1 J-J 104*3 105
Wil A Weld 5S..1936.J-J 108
112
||$7.50 paid, t $12 k paid, t $13 k pant, i 335 paid, a Receipts. 6$25paiil. c $30 paid, <t$42*gpald.
[VOL. LXXXVII
THE CHRONICLE
15 28
Ittuestm m l and R a ilro a d Intelligence.
R
A
I L
R
O
A
D
G
R
O
S
S
E
A
R
N
I N
G
S.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or montlil}' returns
C a n 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 street railways are brought together separately on a subsequent page.
July 1
L a te st G ro ss E a r n in g s .
W eek or
M o n th .
C u rre n t
Y ear.
Al a N O & 'r e x P a c
276,044
2 8 1 ,639
N O & N E a s t-.r N ovem ber.
148,238
148,156
A la & V ic k s -------r N o v e m b e r .
141,638
127,442
V leks Sh & P a c .r N o v e m b e r .
4,202
6 025
O cto b e r
A la Term & N o rth
k A t c h T od & S F e . O c t o b e r ___ 8.255.622 8,5 7 2 ,4 5 6
44,018
49,649
A tla n ta B lrm & A tl 4th w k N o v
A tla n tic C oa st Line O c t o b e r . . . 2,222,773 2,460,410
O o to b e r ___ 6,594,989 7 ,790,67
B a ltim ore & O hio
249,609
293,945
B a n g or & A ro o s to o k O c t o b e r —
6,161
6,249
B ellefon te C en tra l- - N o v e m b e r
B o s to n & M ain e-----r O cto b e r . . 3 602,371 3,871,025
4,884
4,445
B rid g eton & S aco It O cto b e r
130,077
130.847
B u ll Ito ch & P i t t s . 1st w k D ec
275,200
377 .900
C a n adian N orth ern 4th w k N o v
Canatllan P a cific ___ 1st \?k Dec. 1,548,000 1,539,000
273,400
315,500
Cen tral o f G e o r g ia -_ 4th w k N o v
2,187.712 2,513,024
Cen tral o f N J e r s e y . O cto b e r
2,093
1,540
1th wk N o v
C h a tta n o o g a S o u th
C h esapeake & O h lo . O c to b e r — 2 ,332,158 2,777,100
5,088
6,370
C hesterlield & L ane O c t o b e r .
2141,175
248,01
C h ica g o & A lto n R y 4th wk N o v
C h ic Burl & Q u in cy O c t o b e r — 7,688,451 8,270,655
200,317
183,938
C h ica go G reat W est. 4th w k N ov
80 ,276
56,541
W ise M inn & P a c S eptem ber
162,967
181,434
M ason C & F t L) S eptem ber
119 ,3«3
115,088
Clue Ind & L ou lsv 4th w k N o v
C h ic Ind & Southern — See N ew Y ork Gen tral.
C h ic MUw & St Paul O cto b e r _ . 6,346,803 15,890,935
6,920,251 17,040,662
C h ic & N orth W e s t . O cto b e r
C h ic S t P aul M & O - O c t o b e r ___ 1,403,449 1,355,562
C h lc T erm T ran R R 2d w k O ct
34,053
36,505
821,804
Cine H am & D a y t .r O c t o b e r . ..
735,922
Cln N O & T ex a s P a c — See Sout hern R ail w ay.
C incinnati N orthern — See N ew Y ork Cen tral.
C lev Cln C h ic & St L — See N ew Y ork Cen tral.
240,203
C olora d o M id la n d .r O cto b e r ___
207 ,685
362,295
332,356
h C o l & S ou th S y s t . 4th w k N o v
23,616
31,987
Col N ew b & L a u r . O cto b e r . .
77,144
74,709
C op p er R a n g e____
S eptem ber
15,135
7,6 3 2
C o r n w a l l --------------- O cto b e r ___
36,281
24,798
C ornw all & L eb anon S ep tem b er
133,195
134,118
C u b a R a ilroa d _____ O cto b e r —
1 D elaw are & H u d - O cto b e r - - 1,725,797 1,89 8,097
D el L a ck & W e s t - .r O cto b e :-— 3,124,764 3,214,235
3 9 8,-3 00
383.900
1st w k D ec
D en v er & R io G r.
42,396
46,501
D e t T o l & fr o n t Sys 4th w k N o v
51,279
45,535
4th w k N ov
A n n A r b o r ..
23.600
26,608
D etroit & M ackinac 4th w k N o v
1,066,665 1,176,074
D ul & Iron R a n g e .r O cto b e r
85,949
66,425
D ul Sou Shore & A tl 4th w k N o v
508,732
E l P a so & S W ____ r S ep tem b er
E r i e .............................. O c to b e r ----- 4,044,238 4,800,964
See R o c k Island S ystem .
E v an sville & T e r H
1,820
2,043
F a irch ild & N o r. E O c t o b e r ___
68,914
74.710:
F o n d a John s & G lov O cto b e r . .
334,971
306,889
G eorgia R ailroad - O c to b e r ___
G eorgia S ou th & Fla —See Sout hern R ail w ay.
G rand T ru n k S y s t . . 4th w k N ov 1,012,981 1,164,440
106,017
127,984
Gr T ru n k W e s t -- 3d w k N o v
31,788
37,516
D et Gr H a v & MU 3d w k N ov
36,922
42,674
C anada A tla n tic . 3d w k N o v
G reat N orth ern Syst N o v e m b e r . 5,831,776 8,093,537
G u lf & Ship Isla n d . Iu n e ______
0~5~8~,935
66T.B05
H o ck in g V a lle y ------- O c t o b e r ___
Illinois C e n t r a l------ N o v e m b e r . 4.982.622 5.313,028
1-46,000
136,000
In te r & Gt N orthern 1st w k D ec
252,242
174,137
a In terocea n ic M ex 4th w k N o v
54,933
46,979
Io w a C en tral---------- 1st w k D ec
221,424
228,585
K a n aw h a & M ich. . O cto b e r SO 1,179
803,910
K ansas C ity S outh O cto b e r - 113,000
K C M ex & O r ie n t -. O cto b e r - L a k e Erie & W est’ n — See N ew Y o rk Cen tral.
L a k e Sh ore & M Sou — See New Y o rk Cen t»al.
Leh igh V a lle y -------r O c t o b e r ___ 3,227,458 3,526,233
59,906
33,152
L e x in g to n & E a s t - . O c to b e r ___
D e c . 85, 445
L o n g Isla n d ------------- O c to b e r ___
L ou isian a & A r k a n . J u n e ______
L ou ls v & N a s h v ille . 4th w k N o v ,084,560 1,157,181
12.901
11,337
M a con & B lrm in g’m N o v e m b e r .
828,150
757,458
M aine C e n t r a l-------r O cto b e r . .
5,737
2,888
M an lstlau e_________ O c t o b e r __
43,595
36,3 9 0
M aryland & P e n n .. O cto b e r . .
965,013
692,169
a M exican C e n tr a l.. 4th w k N o v
203,753
156,668
a M exican I n te r n a t. 4th w k N o v
167,300
113,300
a M exica n R a ilw a y . 3d w k N o v
20,446
24,740
a M exica n S outhern 3d w k N o v
M ichigan C en tral— See N ew Y ork Centr al.
22,363
23,055
M ln era1R a n g e _____ 4 th w k N ov
78,773
82,590
M lnneap <& St Louis 1st w k D ec
328,815
291,833
M inn St P & S S M . 4th w k N o v
,824,648 2 ,571,418
M issouri K a n & T e x O c t o b e r ___
748.000
812 ,000
M o P a c & Iron M t .o 1st w k D ec
27,000
25,000
Central B r a n c h .o 1st w k D ec
775.000
837,000
T o ta l s y s te m — o 1st w k [Dec
32,829
39,406
b M obile Jack & K C W k N o v 30
N a s h v C h att & St L O cto b e r ___ 1,014,390 1,022.929
C uPnt
Year
$
9,583,850
13,311,956
10.291.971
10.403.972
10,838,445
15,771,408
10,678,178
10,965,461
10,045,953
13,469.911
P r e v 's
5
T M te st
D ate.
P r e v io u s
Y e ar.
1,225,646
653,134
579,436
'
19,333
30,627,017
798,059
7 ,443,2 85
25,004,565
953 ,108
31,441
14,045,075
20,378
3,322,223
4 ,707,200
3 5,156,480
4,897,868
8,705,113
37,767
9 ,029,194
16,267
5,576,098
28,227,597
3,680,369
1,349,997
078,727
090,259
15,215
32,5 7 5 ,0 2 0
770,095
8.524,840
3 0 ,231,938
935,711
27,694
15,478,627
22,017
4,1 4 3 ,5 6 5
4,5Q 6,800
3 5 ,8 6 2 ,9 5 0
5,325,411
10.013,529
65*525
1 0 ,3 7 * 9 3 9
22,219
5.603,387
30,010,743
3,6 0 9 ,1 2 4
2,340,608
2.3 3 1 ,2 8 0
22,444,545 21,766,193
24,443,907 2 5 ,9 6 9 ,8 8 5
4 ,784,419 4,9 5 6 ,3 3 4
527,162
494,597
2,837,176 3,3 1 0 ,5 3 6
808,711
900 ,304
6,612,621 6,453,747
97,328
91,657
253,102
221,729
79 ,332
21,920
119,836
71,330
577,573
556,061
6,411,403 7 ,5 6 5 ,6 5 3
11,383,806 12,505,037
9,592,177 10,515,715
854,777
749,483
935 ,977
855,583
471,954
540,623
3,999,675 4 ,3 1 7 ,3 9 9
1,171,497 1 ,530,475
1.568,442
17,887,409 19,561,109
6,677
298,497
9 87,699
6,154
337,813
1,079,637
17,730 ,819
‘ ,244 ,209
693 ,589
790 ,917
26,528 ,125
2,066 ,328
2,455 ,450
3,940 ,100
3,640 ,603
2,572 ,643
1,300 247
846 .841
2,981 ,294
,201,796
,719,975
774,357
979,202
,916,659
,483,545
.655.410
,836,790
,235,569
,182,328
,422,162
849,674
,545,687
11,514,663
141,281
D e c . 438,
1,144.521
19,431,696
58,327
3,068,675
18,947
140,642
12,446,134
2,867,012
2,670,900
477,654
13,537,185
211,947
339
1,216,837
21,203,911
69,804
3,395,128
24,871
150.153
15,239,100
3,695,158
3,1 3 5 .1 0 0
505,369
366,
1,971,
6,070,
9,265
20.059
781
20,840
619
3,703,
362,589
1,933,866
5,691,034
9,3 6 3 ,0 2 5
21.644.964
738,000
22.382.964
681,138
4,028,525
Year
OF
GROSS
In c. o r D ec.
S
— 425,461
— 527,838
— 371,900
— 445,156
— 519,799
— 1,146,608
— 354.814
— 102,601
+ 2 1 6 ,1 2 0
— 698.592
C urren t
Y e ar.
a N at R R o f M exco
H id a lgo & N E ._
N evada-C al-O regon
N e v a d a C en tral____
N Y C & H ud R iver
L a k e Sh & M S ._
L a k e Erie & W est
C h ic Ind & South
M ichigan Central
C jeve C C & St L .
P eorta & Eastern
Cincinnati N orth
P R ts & L a k e Erl
R u tlan d _______
N Y C h ic & St L .
T o ta l all lines____
N Y O nt & W estern
N Y N H & H a r t - .r
N Y Susq & W e s t -.
N orfollt & W estern N orth ern C e n tr a l-N o rth e rn P a c ific -. P a cific C oast C o ___
P en n sylva n ia G’o - . r
rfPenn— E ast P & E
d W est or 1’ & E
P ere M a rq u e tte___ r
P h lla B alt & W a s h .
P itts Cln Ch & St L .
R a le ig h & S o u th ’ p ’ t
R ea d in g C o m p a n y .
C oal & Iro n C o . T o ta l b o th c o s ___
R ic h Fred & P o to m
R io G ra n de J u n e ___
R io G rande S b 'u th ..
R o e k Isla n d System
e St L & San Fran
t E vansv & T er H
T o ta l o f all lin e s.
St Jos & G rand Is l.
S t L ou is S o u th w e stSan P ed L A & S L .r
S eab oard A ir L ln e .r
Sou th ern I n d ia n a .,
S ou th ern P a c C®. Sou th ern R a ilw a y - .
M obile <5: O h io ___
Cln N O & T e x P .
A la G reat S o u t h .
G eorgia S ou& Fla
T e x a s C e n t r a l _____
T e x a s & P a c ific ____
T id e w a te r & W e s t.
T o le d o & O h io Cent
T o le d o P e o r & W est
T o le d o St L & W est.
T o m b lg b e e V a lle y - T o r H am & B u llalo
U n io n P a cific S y s t .
V a n d a lia ___________r
V irginia & S ou W est
W & b a s h -----------------W estern M aryland
W Jer & *tJeashorc-.
W h eel & L a k e E rie r
W iscon sin C e n tra l-r
W r lg h ts v & T e n n ..
Y a z o o & Miss V a l.
to t M le s t
5,800,796
359,376
171,647
28,035
32,547,970
14,59 2,526
1,705,508
9 62,615
8,867.169
9 13 1 .2 U
085,534
408,527
4,408,770
1.065.920
3,132,325
7 7 ,763,082
3 ,064,250
18,684,525
1,033,555
9,912,389
3,973,577
25,586,222
2,387,909
15,033,293
47,810,207
Dec.6,66
4,908,494
■5,662,976
9,387,559
39,580
13,028,823
10,104,040
23,132,862
5 6 9 ,5£5
221,999
P r e v io u s
Y e a r.
Y e ars.
B ellefon te C en tral______________
D elaw are & H u d s o n ___________
M a n ls tlq u e ______________________
M exica n R a ilw a y ________________
M exica n S o u th e rn ______________
N ew Y o r k C en tral______________
L a k e Shore & M ich S ou th ern L a k e E rie & W e ste rn _________
C h icago In dian a & S ou th ern .
M ichigan C en tral_____________
CLeve Cln C h ic & S t L o u is___
P e o ria & E a stern _____________
C incinnati N o rth e r n -------------P ittsb u rg h & L a k e E rie--------R u t l a n d ______________________
N-ew Y o r k C h ica go & S t Louis
T o ta l all lines-------------------------N orth ern C en tral________________
d P en n — E a st o f P itt* & E rie—
d W est o f P itts & E rie________
P h lla B a ltim ore & W a s h in g to n .
P itts Cln Ohlbago & S t L o u is___
R io G rande J u n ctio n ____________
T e x a s & P a cific -------------------------W est J.ersey & S eash ore!_______
l
and
D a le .
P r e v io u s
Y e ar.
327,615
20,046
7,698
8,113
8,609,676 :
3.S68.745
432,865
259,868
2,444,9 59
,888.831
lyfl ,25>>
111 273
1,192.582
273,956
S82 204
20726217
686,987
4,9 3 5 ,3 3 8
295,388
2,529,066 1
1,115,707
7 ,2 6 9 ,0 6 8 ’
636,697
3.971.243
12794 084
D e c .l ,6 i
1.381.244
1,449,581
2,506,212 1
12,266
3,712,075
3,513,484 ‘
7 ,225,559 1
151,220
83,675
15,320
5 ,632,499 f
4,453,787 <
196.323
10282609
163,974
285,548
649,717
1,437,952 1
129,211
11069 855 1
1,241,523 1
333,510
202,016
105,626
40,293
38,712
308,476
6,206
463,862
29,973
76,825
6,720
61,659
7 ,675,805 7
841,112
110,658
484,562
429,231
392,030
547,199
696,729
34,243
1,119,167
c
E A R N IN G S — W e e k ly
%
July 1
tM le st G r o s s E a r n i n g s .
\V ,e e k o r
M o n th .
V a rio u s F is c a l
AGGREGATES
W e e k ly S u m m a r ie s .
to
C u rre n t
Y e a r.
P r e v io u s
Y e a r-
Jan
Jan
Jan
Jan
Jan
Jan
Ian
Jan
Jan
Jan
Jan
Jan
Tan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
D ec
Jan
Jan
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
30
31
31
21
21
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
30
7
31
to N o v
to O ct
to O ct
to N o v
to N o v
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to S ept
to D ec
to O ct
559,982
15,140,502
46.792
6 ,621,300
1,119,918
73,210,577
32,932,742
3,746,175
2,356,932
20,602,450
20,147,195
2,2 5 6 ,3 0 8
805,608
8,504,527
2.293,006
7,739 ,052
174596954
9,404,671
111830056
D e c . 17,88
13,403,287
21,012,101
637,094
12,588,481
4,687,221
559,084
10,812,570
56,091
7 ,1 0 7 ,4 0 0
1,198,358
83.000,258
3 7,928.378
4,3 3 0 ,8 4 3
2,5 0 1 ,4 8 0
24.086,381
22 272,083
2,544.181
853,116
12,910.086
2,587,869
8,787,528
201 893118
11,239,071
139076 156
1,000
14,407,397
2 7 ,5 4 2 ,5 6 !
693,212
15,321,143
5,027,221
M o n th ly .
M o n t h ly S u m m a r ie s .
C u Pn i
Y e ar Prev’s
$
151.758,406
141,256,206
162,495,089
154,137,168
153,112,628
146 ,270 ,13 0
150 ,103 ,88 3
179,781,772
210,014,059
65,130,556
Year
In c. o r D ec.
3 ,
172,283,006 — 20.524.600 l f i A B
160,150,610 — 18,894;404 11.79
f 8 7 ,435,350 — 24,940,261 13.37
190,046,156 — 3 5 ,908,988 18.89
198,146,871 — 4 5 ,034,243 22.67
179,397.094 — 3 3 ,126,064 18 .,47
133,363*,993 — 27,262,110 Fl-KT
209,690,782 — 29,9 0 9 ,0 1 0 16,64
223 ,964 ,94 5 — 13.950,886 6.22
6 7.809,430 — 2 .678,874 3. SC
a M exica n cu rren cy , o Inclu des earnings o f G u lt& C h tc a g o D ivision , c In clu d e s the H o u s to n & T e x a s C entral an d its su b sid ia ry lines In b oth
y ea rs, a Govern fines d ir e ctly o p era ted , e In clu d e s the C h icago & Eastern Illinois In b o th years, f Inclu des E v an sville & Indiana R R .
Includes
earnings o f C ol. & S ou th . 1-1 . W o r th & D e n ve r C ity an d all a ffilia te d lines, e x c e p t in g T r in ity & B razos V a lle y R R . k In clu des In b o th years earning*
o f D en ver E n id & G ulf R R ., P e co s V a lle y System a n d Santa F e P r e s c o tt & P h o c n lx R y .
I T h ese figures d o n o..
t Include
tn d u i
‘
' o" f pooL
re ce ip ts Irom
sale
o F igures here are o n the o ld basis o f a c c o u n tin g — n o t the n ew o r In te r-S ta to C o m m e r c e C o m m ission m eth od
r T h e se figures are o n th e n e w biUM
p re s crib e d b y the In ter-S ta te C o m m e rce C o m m ission .
3d
4th
1st
2d
3d
4 th
1st
2d
3d
4th
w eek
w eek
w eek
w eek
w eek
w eek
v/eelc
w eek
w eek
w eek
Sept
Sept
O ct
O ct
O ct
O ct
N ov
N ov
N ov
N ov
(39 r o a d s )____
(42 r o a d s )____
(44 ro a d s )____
(40 ro a d s )____
(42 r o a d s )____
(45 r o a d s )____
(45 r o a d s )____
(44 ro a d s )____
(39 r o a d s )____
(44 r o a d s )____
10,009,320
13,839,794
10,673,871
10,849,128
11,358.244
1 6 .918,106
11,032,992
11,068,062
0.829.S 24
14,168,503
4.25
3.81
3.48
4.10
4.58
6.77
3.22
0.92
2.20
4.93
M onth
M onth
M onth
M on th
M onth
M on th
M on th
M on th
M o n th
M onth
Jan
Feb
M ch
Apr
M ay
June
J u ly
Aug
S ept
O ct
1908
1908
1908
1908
1908
1908
1908
1008
1908
1908
(122 r o a d s ).
(123 r o a d s ).
(126 r o a d s ).
(119 r o a d s ).
( 1 2 0 r o a d s ).
(113 r o a d s ).
( 97 roads) .
(105 r o a d s ).
(114 ro a d s ).
( 47 r o a d s ).
$
b
Dec. 12 1908. J
THE CHRONICLE
Latest Gross Earnings by Weeks.— In the table which fol
lows we sum up separately the earnings for the fourth week
of November. The table covers 44 roads and shows 4.93%
decrease in the aggregate under the same week last year.
W eek of N o ve m b e r.
A la b a m a G reat S ou th e r n .
1007.
S
105,626
168,698
377 ,9 0 0
2 ,1 4 1 ,0 0 0
273 ,400
1,540
210 ,175
200,317
119,383
202 ,0 1 6
332 ,356
407 ,300
23,600
42,396
45,535
66,425
40,293
S
119,847
240 ,140
275 ,200
2 ,0 5 4 ,0 0 0
315 ,5 0 0
2,003
248,012
183,038
115,008
224 ,936
362 ,205
516 ,600
26,608
46,501
51,270
85,049
47,484
1,012,981
1 ,614,440
250 ,000
174,137
56,381
1,0 8 4 ,5 6 0
692 ,169
156,668
23,055
06,467
201,833
1,2 5 5 ,0 0 0
4 0,000
3 3 3 ,5 1 0
327 ,6 1 5
20,046
7,698
15,320
285,548
1,241,523
38,712
506,234
20,973
76,825
587 ,696
182,000
252,242
61,907
1,157,181
965 ,013
203,753
22.363
04,169
328 ,815
1,244,000
3 7 ,000
315 ,477
3 02 ,107
25,500
8,205
18,552
246,264
1 ,321,030
30,330
486,009
28,195
79,845
570,608
$
4,221
80,4 4 2
$
$
R o a d s.
102,700
87,000
4 2 ,100
553
28,8 3 7
16,379
4,375
22,920
29,930
19,300
3,008
4,105
5,744
19,524
1,809
68,000
78,105
5,526
72,621
272 ,844
47,085
3 6 ,982
11,0 0 0
3,000
18,033
64,402
5,553
507
3,232
39,284
79.507
8,373
20,225
1,778
13,469,911 14,168,503
1908.
sf N o ve m b e r.
-In t . , R e n t a ls , & c .~
C u rre n t
P r e v io u s
Y e ar.
Y e ar.
5
t
3 ,0 2 0
393 ,034 1,091,626
698.502
1907.
5
?
____ 53,9 0 2 ,4 5 4 5 4 ,7 4 6 ,2 1 9
%
D e cre ase .
5
753,765
1.38
It will be seen that there is a loss on the roads reporting
in the amount of $753,765, or 1.38 % .
Net Earnings Monthly to Latest Dates.—The table fol
lowing shows the gross and net earnings of STEAM railroads
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Nov. 21 1908. The
next will appear in the issue of Dec. 26.
B c lle fo n te C e n tra l____ . . N
. Noovv
257
Jan 1 to N o v 30
2,827
O
ct
B rid g e to n & S a co R l v ___
.. . c t
637
J u ly 1 t o O ct 31
2,467
C o lo ra d o & S o u th e r n ___O
226,248
. . O ct
ct
J u ly 1 t o O ct 31
1,019,201
D ul So Sli & A t la n t ic ___
92,747
. - O ct
J u ly 1 t o O ct 3 1 _______
3 7 0 ,7 7 0
M ineral R a n g e . ...................O ct
13,316
J u ly 1 to O ct 3 1 .
51,971
N e v a d a -C a l-O re g o n . . . . O c t
4,046
J u ly 1 t o O ct 3 1 .
16,184
N Y O n t & W e s t e r n ______- O
O cctt
95,836
J u ly 1 t o O ct 3 1 .
359 ,603
P itts S haw & N o r —
J u ly 1 t o S e p t 30
50,483
St L o u is S ou th w esterni - . O c t
168,008
J u ly 1 t o O ct 3 1 .
674,541
T e x a s C e n tra l_____________O ct
2.584
J u ly 1 to O ct 31
10,336
—
c
x
.
18,199
1,642
0,077
173,024
722 ,108
505,416
1 ,780,316
11,604
15,272
832 ,989
3 ,0 3 5 ,0 5 8
54,608
354 ,2 0 5
.
.
-
-
$
1,905
7,280
40,443
166,190
-
r o s s E a r n i n g s ----------------- N e t E a r n i n g s -------C ttrre n l
P r e v io u s
C u rre n t
P r e v io u s
Y e a r.
Y e a r.
Y e a r.
Y e ar.
R oa d s.
$
$
s
A la T c n n 4 N o rth e r n ___ O ct
0,025
4,202
3,530
J u ly 1 to O ct 3 1
10,333
15,215
10,780
v A tl BIrm & A t l a n t l c .a .O c t
10 0 ,4 0 6
175,701
60,103
J u ly 1 t o O ct 3 1 .............
6 61 ,025
6 78 ,110
100,888
B c lle fo n te C e n t r a l . ! ) . . . N o v
6 ,16 1
6.249
1.9 13
Jan 1 to N o v 3 0 . ..........
59,082
59,0 8 4
11,501
B r ld g to n & S a co R l v . b . - O c t
4,4 4 5
4,884
1,150
J u ly 1 to O c t 3 1 ----------2 0 ,378
2 2 ,017
7,504
xC Inc H am & D a y t o n .b .O c t
735 ,0 2 2
8 21 ,804
178,353
J u ly 1 to O ct 3 1 ----------- 2 ,8 3 7 ,1 7 6
3 ,3 1 0 ,5 3 6
684 ,054
C ol 8; S o u t h e r n .b .............O c t 1,448,948
1.456,593
502,003
J u ly 1 to O ct 3 1 5 ,2 4 1 ,7 7 0
5 ,031,301 1,887,193
Gol N ew b & L aurens .n .O c t
23,616
3 1 ,0 8 7
4,463
J u ly 1 t o O ct 3 1
01,6 5 7
97,328
18,927
x D u lu th & Iron R a n g e .b O c t 1 ,066,665
1,1 7 6 ,6 7 4
754,321
J u ly 1 to O ct 3 1 ................ 3 ,9 9 0 ,6 7 5 4 ,3 1 7 ,3 0 0 2,8 6 6 ,6 4 7
D u l So Sll & A t l . b ---------- O c t
252 ,0 5 7
295 ,877
80,638
J u ly 1 to O ct 3 1 .............
038 ,438
1 ,2 6 1 ,0 5 0
273,269
G rand T ru n k o f C a n ad a—
G rand T r u n k R y -------- O ct 3 ,0 5 2 ,7 5 5
3 ,1 7 7 ,3 3 8
974 .760
J u ly 1 t o O ct 3 1 ------------ 11,0 5 6 ,6 8 7 12,5 1 0 ,7 0 7 3 ,4 9 8 ,5 2 7
G rand T ru n k W e s t . . . O c t
4 71 ,077
613 ,666
85,164
2 ,3 3 9 ,3 2 6
393 ,944
J u ly 1 to O ct 3 1 ............. 1,034.021
D et G r H av. & M lIw ___O ct
145,021
155,728
27,252
J u ly 1 t o O c t 3 1 ----------594 ,108
673 ,523
145,264
C an ada A t la n t ic ........... O c t
150,131
220 ,939 d e fl2 ,8 9 6
J u ly 1 t o O ct 3 1 .............
676 ,686
8 3 6 ,5 5 0
34,309
g In te r o cc a n lc o f M e x ic o .O c t
545 ,686
661 ,202
173,506
2 ,5 0 3 ,3 0 *
640 ,418
J u ly 1 to O ct 3 1 ........... 2 ,0 9 3 ,1 8 5
e M aine Cen tral b - - - . . . O c t
757 ,4 5 8
8 2 8 ,1 5 0
224 ,027
J u ly 1 to O c t 3 1 ................ 3 ,0 6 8 ,6 7 5 3 ,3 9 5 ,1 2 8 1,029,961
9 M exica n C en tra l........ O ct 2,6 6 1 ,6 1 3
3 ,1 6 0 ,4 5 7 1 ,060,116
J u ly 1 to O ct 3 1 ............... 10,008,872 1 2 ,238,947 3 ,6 6 2 ,6 5 3
t/M oxlcan I n t e r n a t io n a l.O c t
588 ,318
7 53 ,079
249 ,8 6 0
J u ly 1 to O ct 3 1 .............. 2 ,2 7 1 ,4 4 0
2 ,9 9 4 ,1 0 8
805 ,128
M ineral R a n g c . b .......... O ct
7 7 ,295
7 5 ,8 6 4
20,010
J u ly 1 to O ct 3 1 ............ 2 0 6 ,1 7 7
2 0 0 ,3 6 7
65,925
M inn S t P & S S M . b --------O ct 1 ,5 1 8 ,2 1 0
1,4 2 0 ,5 4 6
843 ,2 0 5
4 ,5 8 6 ,5 0 5 2 ,4 3 2 ,3 3 5
J u ly 1 l o O ct 3 1 4 ,0 2 8 ,1 4 4
M o P a cific S y s t e m .b ____ O ct 4 ,2 9 3 ,6 1 0 4 ,5 0 8 ,3 7 4
1.4 3 3 ,5 3 0
J u ly 1 to O ct 3 1 -----------15,9 2 9 ,7 3 6 17,7 8 0 ,0 6 4
5 ,2 0 0 .9 5 7
g N at R R o f M e x ic o -------O ct 1,1 7 6 ,1 8 6
1 ,359,659
417 ,029
J u ly 1 to O ct 3 1 4 ,7 0 0 ,3 1 0
5 ,5 0 5 ,2 0 9 1 ,7 5 5 ,0 6 0
H id a lg o & N o r E ’ n . - . O c t
7 3 ,0 5 4
9 0 ,2 6 4
9 ,7 7 6
J u ly 1 to O ct 3 1
203 ,675
3 5 1 ,8 4 7
42,3 1 2
N c v a d a -C a l-O r c g o n .b - . O c t
39,2 6 9
3 5 ,7 5 9
2 5 ,077
J u ly 1 to O ct 3 1 ..............
144 ,144
138,407
83,718
N V O n t & W e s t e r n .a . . O c t
686 ,967
698 ,9 7 6
174,255
J u ly 1 to O ct 3 1 ----------- 3 .0 6 4 ,2 5 0
3 ,1 1 8 ,7 4 2 1 ,067,192
2 ,0 18
023 ,175
3 ,644,521
9 7 ,330
392 ,2 3 9
21,809
135,289
15 ,0 8 6
84,6 7 7
188,286
639,383
2 7 2,5 6 1
1,291,613
8 9 7,4 85
3 ,388.015
220 ,267
887,923
10.681
61,242
7 12 435
1,8 8 7 ,7 7 0
1 17 6 078
4 ,8 7 2 ,5 1 7
488,942
1,882,561
26,002
83,462
23 014
83,452
195,259
1 ,144,054
d cf9 ,0 3 3
957
4,328
46 115
194,238
1 ,7 7 2 ,7 6 7
6,0 8 8 ,7 6 1
1 ,3 2 1 ,9 6 4
4 ,7 7 9 ,4 3 9
6 4 ,926
2 5 5 ,4 8 6
3 ,1 5 0 , 6 5 7
1 1 ,1 2 3 ,6 8 6
3 0 4 ,0 9 6
1 ,1 0 7 ,1 0 0
2 1 2 ,6 2 4
5 7 2 ,2 1 4
4 7 ,4 1 4
124 ,179
8 9 6 ,5 2 0
3 ,5 2 8 ,8 6 2
- B a l. o f N e t E 'n g s C u rre n t
P r e v io u s
Y e a r.
Y e ar.
%
?
303
1,656
3,333
8,734
593
522
2,373
8,037
190.637
C269.416
932 ,0 7 4
C999.903
100,684 x d e f l ,550
385 ,8 6 6 z d e f4 8 ,6 9 5
12,046
2:7,631
48,454
2:14,043
3,901
2:22,114
15,397
2:72,012
85,096
78,4 1 9
3 0 8 ,9 3 0
7 07 ,589
1,715
1 4 ,866
1,040
6,704
e.355,162
C898.292
2:def 3 7 , 7 9 5
2:5,009
x d e f 1,342
2:14,289
2:20,311
2:73,330
110,163
8 3 5 ,1 2 4
43,823 2:def42,683
160 ,940
2:165,437
662 ,208
2:338,091
2,584
53.008
10,336
101,460
2:20,283
2:215,054
2:671,167
4 4 ,8 3 0
113,843
A ft e r a llo w in g fo r m iscella n eou s charges and cre d its to In com e.
A fte r a llo w in g fo r o th e r In com e r e ce iv e d .
STREET RAILW AY AND TRACTION COMPANIES.
----- G
$
1 4 5 ,3 0 5
5 5 2 ,9 0 6
3 9 8 ,2 9 5
1 ,409,593
Interest Charges and Surplus.
8,088
For the month of November the returns of 50 roads show
G ross earnings (50 roads)
$
a N e t earnings here g iv e n are a fte r d e d u ctin g ta x e s,
b N e t earnings here g iv e n are b e fo re d e d u ctin g ta x e s.
g T h e se results are In M exica n cu rre n cy .
v In a c c o r d a n c e w ith th e c o n t r a c t o f Jun e 30 1908 b e tw e e n th e A t la n t ic
& B irm in gh am C o n s tru ctio n C o. and th e A tla n ta B irm in gh am & A t la n t ic
R R . C o ., the C o n s tru ctio n C o. as the p art o f e xp en ses c h a rg e a b le t o It o n ,
a c c o u n t o f the unfinish ed c o n d it io n o f th e w o rk an d the In terferen ce b y Its
w o rk w ith th e o p e r a tio n , p a y s each m o n th t o the R a ilro a d C o . such p o r tio n
o f th e o p e r a tin g e xp en ses as equals th e e xce ss o f th e to t a l o p e r a tin g e x
penses a b o v e 7 0 % o f th e to ta l o p e ra tin g re ve n u e .
x T h e se figures are on th e basks o f a c c o u n tin g r e q u ire d b y th e In te r -S ta te
C o m m e rce C o m m issio n .
602
2,298
as follows:
M o n th
j
.
151,450
R o a d s.
N et d ecrease ( 4 .9 3 % ) .
------N e t E a r n i n g s -----C u rre n t
P r e v io u s
Y e a r.
Y ear.
P a cific C o a s t--------------------O ct
6 3 6 ,6 9 7
797 ,501
106,628
J u ly 1 t o O ct 3 1 ............. 2 ,3 8 7 ,9 0 0
3 ,0 2 8 ,9 2 4
301,701
x P e re M a r q u e tte , b ---------- O c t 1 ,3 8 1 ,2 4 4 1 ,3 5 7 ,9 8 2
496 ,308
J u ly 1 t o O c t 3 1 ................. 4 ,0 0 8 ,4 9 4 5 ,0 3 2 ,4 9 9
1 ,5 5 8 ,5 2 7
P itts Shaw & N o r . b—■
J u ly 1 t o S e p t 30 --------2 0 1 ,6 3 3
2 2 5 ,5 3 6
d e f2 0 ,8 6 7
R a le ig h & C h a r le s t o n .a .O c t
6 ,6 2 6
6 ,154
l 663
J u ly 1 t o O ct 3 1 .................
2 4 ,1 7 0
2 2 .3 3 0
7,3 2 3
R ic h F red s & P o t .............O c t
1 5 1 ,2 2 0
169,033
55,436
J u ly 1 t o O c t 3 1 . ..............
5 6 9 ,5 4 5
6 9 3 ,4 4 6
1 74 ,284
R o c k Island . a ------------------ O c t 5 ,6 3 2 ,4 9 9
5 ,8 8 6 ,7 9 3
1 ,6 1 9 ,6 0 7
J u ly 1 t o O ct 3 1 ..................2 1 ,3 3 6 ,1 0 0 2 2 .2 5 4 ,4 6 7 6 ,0 0 9 ,5 6 0
St L & San F ran . a ----------- O ct 4 ,4 5 3 ,7 8 7 4 ,7 9 4 ,4 0 4
1 ,1 6 5 ,3 7 0
J u ly 1 to O ct 3 1 --------------- 1 6 ,2 2 9 ,3 7 8 1 8 ,3 6 4 ,3 1 5
4 ,8 3 5 ,3 4 2
E van sv & T H ’t e .a .- O c t
196,323
2 23 ,648
6 1 ,8 0 7
J u ly 1 to O ct 3 1 --------------777 ,981
8 6 3 .5 2 3
2 7 2 ,6 9 0
T o t a l all l l n c s .a --------------- O c t l ,02 8 2 ,6 0 9 1 0 ,9 0 4 ,8 4 5
2 ,8 4 6 , 7 8 3
J u ly 1 t o O ct 3 1 . ................3 8 ,3 4 3 ,4 6 8 4 1 ,4 8 2 ,3 0 6 1 0,707,501
St L o u is S o u t h w .a -----------O ct 1 ,0 1 1 ,3 2 3
1 ,034,671
3 0 0 ,4 7 4
J u ly 1
t o O ct
3 1 3 ,4 9 0 ,7 8 3 3 .7 7 7 ,6 0 4
8 5 5 ,6 2 4
x San P ed L os A n g & S L b O c t
6 49 ,717
7 6 4 ,8 7 9
210 ,131
6 9 3 ,1 8 9
J u ly 1
t o O ct
3 1 . 2 ,3 0 4 ,5 7 7 2 ,7 6 7 ,7 2 0
T e x a s C e n tra l-------------------O ct
132,124
121 ,6 4 5
55,5 9 2
J u ly 1
t o O ct
31
3 7 5 ,9 4 7
4 1 9 ,3 4 5
111 ,7 0 6
a: W a b a s h . - b -------------------- O ct 2,363,701
2,5 0 6 ,2 0 1
7 6 5 ,9 9 5
J u ly 1 to O ct 3 1 ----------- 9 ,1 3 8 ,5 6 4 1 0 ,0 0 7 ,2 6 2 3 ,0 9 1 ,5 0 3
D e cre a se .
In c r e a s e .
r o s s E a r n i n g s ------C u rren t
P r e v io u s
Y e ar.
Y e ar.
-
C a n adian N o rth e r n _______
C a n adian P a c ific ------------------------Cen tral o f G eorg ia -------------------C h a tta n o o g a S o u th e r n ------------C h ica go & A l t o n ----------------------C h ica g o G reat W e s te rn ------------C h ica g o In dia n a p olis & L o u ls v
C incinnati N ew O rl & T e x a s P a c
C o lo ra d o & S o u th e r n ----------------D e n v e r & R io G ra n d e----------------D e tro it & M a c k in a c -.......... .........
D e tr o it T o le d o & I r o n t o n ----------A n n A r b o r ---------------------- -------D u lu th S outh S hore & A t la n t ic .
G eorgia Sou th ern & F lo r id a ------G rand T r u n k o f C a n a d a -----------1
G rand T ru n k W e s te rn -----------|
D etroit G rand H a v e n & M ill
C anada A t l a n t i c ______________ I
In tern a tion a l & G reat N orth ern
In te r o cc a n lc o f M e x ic o --------------Io w a C e n t r a l ------------------------------L ou isv ille & N a sh v ille..................
M exica n C entral
________
M ex ica n In te r n a tio n a l_________
M ineral R a n g e __________________
M in n eapolis & St L o u is _________
M inn St P a u l <fc Sau lt S tc M arie.
M issouri P a cific & Iron M t ..........
Cen tral B ran ch . ................. .......
M obile & O h io __________________
N a tion a l R R o f M e x ic o _________
H I lalg o & N o rth e a s te r n _____
N cv a d a -C a lifo r n la -O r e g o n _____
R io G ra nde S o u th e r n ___________
S t. L ou is S ou th w es tern -------------Sou th ern R a ilw a y _______________
T e x a s C e n tr a l___________________
T e x a s & P a c i f i c . ................. ............
T o le d o P eoria & W e s te rn _______
T o le d o St L ouis & W e s te r n ------W a b a s h ____________________ ______
1908.
-------- G
•
-
Fo u rth
1529
L a te st G ro ss E a r n in g s .
N a m e of
Road.
W eek or
M o n th .
A m e rica n R y s C o ___
A u g E lgin & Chi R y O c t o b e r ___
B a n go r R y & E le c Co S e p tem ber
BIrm R y L t & P o w e r
B r o c k to n & P ly S t R y S e p te m b e r
C a m a g u e y C o ._
C a pe B re to n E lec C o . S e p te m b e r
C entral P en n T r a c . . O ct. b e r . .
C h ariest C on R y t l &E
C le v c P a ln s v & E a s t.
D allas E le c tr ic Corn S e p te m b e r
t D e tro it U nited R y .
D u lu th S treet R y —
E ast St L ou is & Su b O c to b e r . .
El P a so E le c t r ic --------- S e p te m b e r
F alrjA Clarksb T r C o . O c t o b e r ___
F t W a y n e & W a b a sh
V a lle y T r a c tio n Co O c t o b e r ___
G a lv -H o u s t E lec C o . S e p te m b e r
G rand R a p id s R y C o . O c t o b e r . .
H a v a n a E le ctric R y . W k D e c 6
H on olu lu R a p id T ra n
& L a n d C o ------------- O c t o b e r . .
H o u g h to n C o T r C o . . S e p te m b e r
Illinois T r a c tio n C o . . O c t o b e r ___
Jack so n v ille E lec C o . S ep tem b er
K ansas C ity R y & Lt O cto b e r . .
K n o x v ille R y & L t Co O c t o b e r ___
L a k e S h ore E le c R y . Septem ber
L e x & In te r R y s C o . . O c t o b e r ___
L ittle R k R y & E l C o O cto b e r . .
M em ph is S tre e t R y _ . O cto b e r . .
M ctro p W est Side E l. N o v e m b e r .
M llw E le c R y & L t Co O cto b e r . .
MUw L t H t & T r a c C o O cto b e r . .
W k D ec 6
M on treal S treet R y
N ashville R y & L igh t S e p te m b e r
N J & H R R y & F y C o O c t o b e r ___
N o rth O h lo T r & L t . . O c t o b e r ___
N o rth T e x a s E le c C o . S e p te m b e r
N o r & P o rts m T r C o . O c t o b e r —
N o W e stch e ste r L t f.o A u g u s t ___
N o rth w e ste rn K i e v . . N o v e m b e r .
O ak lan d T r a c tio n C o . O c t o b e r . .
O k la h o m a C ity R y . . O cto b e r . .
P cek sk lll L ig h t & R R A u g u s t ___
P o r tla n d R y L & P C o O cto b e r . .
P o r to R ic o R y s C o . . . O cto b e r . .
R lo de Jan eiro T ra m
L ig h t & P o w e r ____ O c t o b e r ___
San F r O ak & San J o . O c t o b e r . .
St J o se p h (M o) R y L t
H e a t & P o w c r C o .. N o v e m b e r .
c
C u rre n t
Y e ar.
$
P r e v io u s
Y e a r.
t
J a n .
t
t o la t e s t d a t e .
C u rre n t
Y e a r.
P r e v io u s
Y e ar.
3
2 ,3 4 1 ,1 7 5
1,1 7 9 ,4 4 0
2 ,4 7 7 ,6 8 5
1 ,197.743
1,780,096
96,206
97.424
181,822
591,213
625 ,549
241 ,899
1 ,8 1 7 ,8 9 0
0 4 ,855
63,975
178,098
6 22 .116
590,471
2 4 6 ,9 4 0
6,4 7 0 ,1 1 6
808.077
1,6 6 6 ,4 9 8
386 ,519
3 2 2 ,3 8 7
6,5 1 6 ,3 3 3
7 7 2 .4 6 4
1 ,7 8 8 ,9 1 0
3 62 ,996
3 0 1 ,7 2 6
1,0 9 2 ,0 9 0
792 ,654
1 ,0 5 2 ,5 0 5
783 ,544
1,7 5 8 ,3 9 5
1,6 5 8 ,0 0 4
316 ,558
197,497
3 ,3 5 2 ,2 7 3
316 ,4 8 0
5 ,1 5 4 ,9 3 6
474 ,1 8 0
3 0 1 ,7 8 5
189,708
3 ,0 9 1 ,3 2 1
294 ,282
4 ,9 9 9 ,8 0 5
4 9 9 ,0 3 2
230,984
121,525
39,909
104,069
12,603
11,284
22,006
58.096
60.655
24,362
95,842
162,302
23,235
178,644
43,828
34,655
242.30C
122,930
37,150
213 ,595
11,620
6,962
23,671
00,227
58,551
24,858
95,632
161,853
21,850
206,014
45,556
33,264
113 .390
91.7 9 0
76.002
38,951
114,883
07,651
75,403
3 5 ,090
34,0 1 0
23,934
379,222
34.017
575,281
52,479
91,942
53,731
55,286
148,146
212,166
3 34 ,677
67,471
67,468
151,751
47,056
157,532
8 8 ,1 9 0
156,796
9,559
175,431
242 ,506
3 1 ,199
16,864
372 ,398
32,633
3 0 ,207
23,878
368 ,836
32,651
559,822
51,960
96,188
52,538
56,988
146,418
227,277
3 2 8 ,4 2 0
67,431
65.378
151.675
42,508
155,291
93,468
258 ,515
8.706
160,202
251.958
24,270
16,760
368 ,693
3 0 ,537
520 ,320
551,104
1,347,911
2,3 4 3 ,6 5 0
3 ,2 0 1 ,5 0 0
727,178
3 ,4 4 9 ,3 1 0
1,167,534
457 ,943
1,579,081
473,321
523 ,789
1,3 4 5 ,0 9 3
2 ,4 8 5 ,0 8 6
3 ,1 6 2 ,0 3 7
702 ,6 9 9
3 ,3 4 2 ,3 8 2
1 ,1 5 2 ,9 5 0
411,921
1 ,615,073
1,5 5 2 ,0 3 0
76,529
1,766,817
2 ,3 2 4 ,9 9 2
236,684
107.473
3 ,5 9 4 ,5 0 7
309 ,866
2 ,2 3 5 ,8 1 2
68,355
1 .5 9 0 ,8 0 0
2 ,3 1 0 ,4 9 8
2 2 0 ,7 9 0
108 ,992
3 ,2 9 4 ,2 4 1
288 ,461
652 ,586
74,4 0 0
552,119
72,411
5 ,891,744
747,784
5 ,1 8 1 ,8 6 5
6 6 7 ,4 5 0
75,963
72,408
826 ,705
7 9 6 ,1 1 2
1
t o la tes t d a te .
C u rren t
Y ea r.
P rev io u s
Y ea r.
Jan.
L a te st G ross E a rn in g s.
N am e of
R oad.
C u rren t
Y ea r.
W eek or
M o n th .
S a o P a u lo T r L t & P .
S a v an n ah E le c tr ic Co
S e a ttle K le c tr ic C o —
S ou th S id e E le v a te d S ou W iscon sin R y Co
S p r in g !’d(III) R & L Co
S y ra cu s e R a p T r R y .
T a m p a E le c tr ic C o - .
T o le d o R y s & L ig h t .
T o r o n t o R a ilw a y -----T w in C ity R a p id T ran
fc U n d ergrou n d El R y
ot L on d on —
T h re e tu b e lin es—
M e tro p o lita n D ls t.
U n lted T r a m w a y s .
U n lted R R s o f San Fr
U n ited R y s o f St L _ .
W h a tc o m Co R y & Lt
P rev io u s
Y ga r.
$
179,786
52,894
359 ,423
180,890
12,636
87,272
119,078
43,078
219 ,915
63,577
150.049
$
1,864,146
435,797
3 ,300,218
1,937,904
130,166
5
1,714,544
446 ,400
2,996,102
1,820.859
128,811
S ep te m b e r
S ep tem b er
O c to b e r . .
W l: D ec 5
4 th w k N ov
5
181,966
48,404
385 ,946
176,713
13.724
82,570
119,110
43,3 5 6
218,074
68,362
155,900
962,598
405,979
2 ,082,897
8 ,2 7 2 ,4 3 5
5.841.661
933,122
383,976
2 ,108,236
3,1 4 8 ,0 8 7
5.550,471
W k N o v 21
W k N o v 21
W k N o v 21
A u g u s t __
O c t o b e r ___
S ep te m b e r
£ 1 2 ,2 5 0
£ 1 0 ,0 5 4
£ 5 ,2 4 5
576,700
949,914
28,381
£ 1 0 ,5 4 5
£ 8 ,7 0 3
£ 5 ,2 4 8
317 .7 6 9
971,322
29,033
£ 5 4 6 ,1 2 0
£ 4 2 7 ,9 0 6
£ 3 1 1.06 1
4 ,486,909
8,8 1 0 ,5 3 9
260,169
£ 3 5 8 ,8 1 0
£ 3 7 0 ,6 5 1
£ 3 0 6 .S67
3.0 1 3 .2 9 5
9 .087.659
255.552
O c t o b e r ___
S ep te m b e r
S ep te m b e r
N ovem berO ct b e r . .
c T h ese figures are for c o n s o lid a te d c o m p a n y ,
t N o earnings fo r D etroit
J a ck son 8- C h icago R y . fo r Jan. 1907 Inclu ded In these figures, k D oes not
include the C h aring Cross E u ston & H a m p stea d R y fo r first six m o n th s
o f 1907
l D ecrease due to Jam estow n
E x p o s itio n last year.
Street Railway Net Earnings.—The following table gives
the returns of S T R E E T railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns anti the latest statement of
this kind will be found in the issue of Nov. 28 1908. The next
will appear in the issue of Jan. 2 1909.
----- G r o s s
----- ------ N
E a rn in g s
C u rren t
P r ev io u s
Y ea r.
Y ea r.
3
R oad s.
A u b u rn & S yra e se El C o . b —
131,09-1
J u ly 1 t o S ept 3 0 ----------C oh oes R y C o _ b —
18,941
J u ly 1 to S ept 3 0 ----------E lm ira & Seneca I. T r C o . b —
J u ly 1 to S ep t 3 0 ----------24,252
F a lrm & C l a r k s b u r g .b .-O c t
3 4 ,6 5 5
Jan 1 to O ct 3 1 _______
3 2 2 ,3 8 7
3 4 ,0 1 0
H on olu lu R T & L C o . b . O c t
3 10 ,558
Jan 1 to O ct 3 1 ----------H u d s o n V al R y C o --------b —
196 ,474
J u ly 1 t o S ept 3 0 ----------575,281
K a n C ity R y & L t C o . b . O c t
2
,6
8 9 ,1 2 5
Ju n e 1 to O ct 3 1 ----------3 7 2 ,3 9 8
P o r tla n d R y L t & P o w .- O c t
3
,5
9 4 ,5 0 7
Jan 1 to O ct 3 1 ----------75,963
S t Jos R y L t H t & P ow .N ’ OV
826 ,7 0 5
Jan 1 t o N o v 3 0 - ..........
S c h e n e c ta d y R y . b —
254 ,047
J u ly 1 to Sept 3 0 .............
666 .985
J an 1 to S ept 3 0 ---------17,143
S c h u y lk ill R y C o -------------O ct
74,676
J u ly 1 t o O ct 3 1 ----------S y ra cu s e R a p T r C o . a —
3 35 ,648
J u ly 1 to S ep t 3 0 ------T r o y & N ew E n g R y . b —
15.510
J u ly 1 t o S ept 3 0 ------U n ited T r a c t io n C o ( A lb a n y ) . b —
520,679
J u ly 1 t o S ept 3 0 ---------Jan 1 t o S ep t 3 0 ............. 1 ,472,701
U tic a & M oh aw k V a l . b —
J u lv 1 to S ept 3 0 ---------3 1 0 ,0 0 0
Jari 1 t o S ept 3 0 .............
819 ,818
------
et E a rn in g s
P r ev io u s
C u rren t
Y ea r.
Y ea r.
$
S
$
125,792
62,376
59,685
18,817
3,9 3 3
2.741
25,525
3 3 ,204
3 0 1 ,7 2 6
3 0 ,2 0 7
3 0 1 ,7 8 5
10,234
22,019
201 ,789
16,535
141,190
12,987
18,145
172,992
13,123
136,416
238,001
559 ,822
2,6 47,648
368 ,693
3,2 9 4 ,2 4 1
72,498
798 ,1 1 2
60,915
262 ,240
1 ,163,947
190,288
1 .815,270
39,186
407 ,646
92,642
288,631
1,3 0 3 ,4 6 0
172,575
1,4 3 4 ,3 0 2
34,2 6 2
390 ,0 1 4
320,471
819 ,468
9 4 ,530
195,527
9,718
42,692
76,161
217 ,909
339 ,458
107,625
133,905
15,318
7,363
7,137
549 ,276
1,518,431
218,492
541,688
225 ,106
607 ,257
327 ,593
847 ,992
129,052
327 ,132
108,871
283,471
— I n t .,
.—
R e n ta ls , & c
C u rren t
P r ev io u s
Y ea r.
Y ea r.
$
A u b u r n & Syracu se El C o —
J u ly 1 t o Sept 3 0 . - ____
C oh o e s R y C o J u ly 1 to S ept 3 0 . . ___
E lm ira & Sen eca L a k e T r C o —
J u ly 1 to S ept 3 0 -------- -F a lrm & C la rk sb u rg ------ O ct
Jan 1 t o O ct 31 — ..
H o n o lu lu R a p T r C o ------ O ct
Jan 1 to O ct 3 1 . —
H u d s o n V a lle y R y C o—
J u ly 1 to Sept 3 0 ______
K a n sas C ity R y & L t C o .O c t
Jun e l to O ct 3 1 ---------S c h e n e c ta d y R y —
J u ly 1 to S ept 3 0 ---------Jan 1 to Sept 3 0 ------- .
S y ra cu se R a p T ran s C o—
J u ly 1 to S ept 3 0 ----------T roy & N ew E ngR y—
J u ly 1 to Sept 3 0 ---------U n ited T r a c Co (A lb a n y ) —
J u ly 1 to S ept 3 0 ............
Jan 1 to Sept 3 0 ---------U tica & M ohaw k V a lle y —
J u ly 1 to Sept 3 0 . ..........
Jan 1 to S ep t 3 0 ----------
— R a t.
.—
of N et E ’n gs
C u rren t
P r ev io u s
Y ea r.
Y ea r.
$
$
$
25,625
25,347
36,751
4,602
2,538
d e f 669
203
4,0 2 0
1,927
12,430
6,122
60,066
3.955
1,797
9.855
6,249
61.629
6,214
.£22,704
£ 2 1 3,37 2
11,087
87,6 4 7
9,032
£17,587
£18 3,56 3
7,855
82,6 3 0
56,660
156,822
7 7 7 ,3 5 2
53.969
153,575
573 ,466
4,255
105,418
3 8 6 ,5 9 5
38,673
135,056
529 ,994
3 2 ,1 5 2
92,291
3 4 ,904
9 7 ,235
£63,671
£106,831
£43 ,5 6 9
£12 6,01 9
105,638
9 7 ,116
£3,0 8 2
£37,121
2,6 3 8
2,5 9 0
4,7 2 5
4,547
98,877
280 ,373
87,481
262 ,443
£ 1 5 9,62 9
£36 1 ,6 4 7
£174,855
£ 4 5 5,57 6
82,233
245 ,705
81,422
242 ,493
£ 4 9 ,6 3 0
£91 ,7 4 9
£28 ,754
£43,251
34,338
A fte r allow in g fo r o th e r In com e r e ce iv e d .
A N N U A L R EPOR TS.
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. 28. The next will appear in that of Dec. 26.
On subsequent pages is given the report of the board of
directors, signed by President Ilarriman; also the compara
tive income account for two years on the new basis prescribed
by the Inter-State Commerce Commission, the balance sheet
for two years, and other tables. Below are the principal
traffic statistics compiled for the "Chronicle:”
T R A F F IC
A v . m iles o f ro a d o p e r . .
E q u ip m en t—
L o c o m o tiv e s ____________
P assenger c a r s .. _____
F reigh t ca r s .......... ..............
R o a d service e q u ip m e n t.
P a s se n g er tr a ffic
—
S T A T IS T IC S .
190 7-0 8.
5,731
100 6-0 7.
5,645
1905-00.
5,404
1904-05.
5,357
1,088
703
25,488
3,598
1,051
643
25,377
2,929
881
580
23,037
2,454
835
566
22,406
2,434
4 ,1 2 8 ,4 3 5
4 ,8 0 3 ,0 9 4
5 ,603,828
6 ,4 5 0 ,2 8 6
N o . o f r e v . pass, carried.
Pass, carried 1 m il e ____7 60 ,532 ,90 6 0 8 0 ,2 7 8 ,5 0 9 0 42 ,544 ,42 2 529 ,2 0 5 ,3 4 7
R e ce ip ts o f pass, trains
$2,095
$3,054
$3,376
per m ile o f m ain track
$3,563
R e c ’ts o f pass.tra in s per
$1.63
$1.67
$1.77
$1.71
r e v . train m il e .a ______
F r eig h t T r a ffic
—
T o n s c o m m ’ l fr ’ t carried 13,089,163
T o n s carried 1 m i l e ____ 5271939813
'Pons c o m p ’y f r ’ t carried. 4 ,7 9 8 ,8 5 4
T o n s m iles per m ile o f
1,086,611
road (all f r e ig h t )------R e ce ip ts per m ile o f m ain
$9,150
t r a c k _________________
R e ce ip ts
per reven u e
$4.31
train m ile . a . . ----------T o n s per r e v . fr ’ t train
512.07
m ile— all fre igh t . a . .
14,0 3 9 ,6 4 9
5704061535
4 ,6 6 3 ,0 9 5
1 3 ,048,346
5353374076
4 ,5 1 7 ,6 0 8
1 1 ,204,275
4821257771
3 ,5 3 5 ,8 5 5
1,185,367
1,203,174
1,0 0 2 ,3 0 0
$9,710
$9,067
$8,019
$3.89
$3.84
$3.82
474 .97
509.71
506.79
a B ased on reven u e passengers and fre igh t an d all m ix e d train m iles.
— V . 87, p . 1421. 1012.
____
Mexican Central Railway.
{Report for F iscal Y ear ending Ju n e 30 1908.)
The text of the report will be cited next week.
A N D
E X P E N S E S
(M E X I C A N
C U R R E N C Y .)
1907-08.
3,2 2 5
5
2 5 ,2 8 8 ,0 7 8
8,4 0 5 ,8 2 2
92,160
1 ,050,170
32,925
641,426
190 6-0 7.
3,203
$
2 1 .0 2 8 ,4 5 0
7 ,8 0 0 ,2 0 9
83,994
1,072,442
37,674
613,365
1905-06.
3,155
$
21,5 7 6 ,8 9 7
5,300,022
71,513
820,234
34,042
574,098
3 5 ,510,581
3 1 ,2 3 0 ,1 9 5
28,3 7 0 ,8 0 6
4,6 2 5 ,3 6 3
5,8 0 0 ,2 0 0
12,669,595
1,550,191
3 ,9 9 5 ,4 9 7
5,1 6 2 ,7 3 5
11,489,193
1,422,753
3,2 4 5 ,8 7 8
4,0 6 3 ,3 9 3
1 1,053,244
1,448,130
T o ta l e x p e n s e s______________________ 24,6 5 1 ,4 0 9
N et earnings (M e x ica n c u r r e n c y )------- 10,859,172
5,429,586
N et earnings in U. S. c u r r e n c y ----------(69.42)
P er ce n t o f expen ses to ea rn in gs---------
2 2 ,070,178
9,1 0 0 ,0 1 7
4 ,6 0 4 ,4 5 6
(70.66)
1 9 ,810,645
8,560,161
4,2 8 7 .8 0 2
(69.81)
M iles o p e ra te d (a v e r a g e )_____________
E a rn in g s —
F r e i g h t ______ ___________ ______________
Passenger
............................. ...............
E x tra b a g g a g e _________________________
E x p r e s s _____________________ ______ ____
T e l e g r a p h .......... ............................ ...........
M is c e lla n e o u s _________________________
T o ta l e a r n in g s ._________ ___________
E xp en ses
—
M aintenance o f w a y an d s t r u c t u r e s ..
M aintenance o f e q u ip m e n t___________
T ra n sp o rta tio n an d t r a ffic ___________
G eneral e x p e n s e s.......... ..................... .........
IN C O M E
Interest Charges and Surplus.
R oad s.
Union Pacific Railroad.
{Report for the F isc a l Y ear ending J u n e 30 1908.)
E A R N IN G S
a N et earnings here give n are a fte r d e d u c tin g ta x e s,
b N et earnings here g iv e n a re b e fo re d e d u ctin g ta x e s .
x
[VOL. LXXXVII
THE CHRONICLE
1530
A C C O U N T
( U N IT E D
S T A T E S
C U R R E N C Y ).
1906-07
1905-06.
4 ,6 0 4 ,4 5 6
4,2 8 7 ,8 6 2
137,975
139,325
.............
19,972
........................................ 29,796
N et e a r n i n g s ........................ .....................
5 ,429,586
N et Incom e o f C oaliulla & P a cific R R .
M iscellaneous Interest, & c......................
----------.............
T o ta l net In co m e -------------------------------
5,753,711
4,742,431
4 ,4 7 6 ,9 5 5
332 ,416
2 ,812,293
1,592,679
163,064
717 ,888
0628,668
160,124
3 .0 1 4 ,5 6 6
1 ,312,648
161,746
3 ,2 5 0 ,0 6 0
702,523
_ J____
105,465
142,775
824 ,850
184,464
1,315,431
36,991
Int. collected on Tampico Harbor bds.
D ed uct
—
T a m p ic o H a rb o r C o. re n ta l----------------In terest o n b o n d s ............... ........................
In terest o n gold n o t e s -------------------------In terest on e q u ip m e n t n o t e s . .......... ..
D isco u n t & e xp en se on 5 % g o ld n otes
Accounts, & c., ch a rged oir-------------Betterments and Improvements not
charged to o p e ra tin g e x p e n s e s ____
M lscell. Int. & o th e r ch a r g e s -------------Loss on re -v a lu a tio n o f c o m p a n y ’s
s to c k an d b o n d s In tr e a s u r y _______
O per. d eficit C oaliulla & P a cific R R .
324,125
657,290
12,163
252,988
100,638
695,546
5,948
7,3 2 5 ,7 7 7
T o ta l d e d u ctio n s .....................................
1,572,066
B a la n ce , d e f i c i t . . ----------------------------1 ,186,000
A d d — W ith d ra w n fro m s u b s id y fu n d .
C464.794
P rofit on re -v a lu a tio n o f b o n d s ----------B a lan ce fro m previou s y e a r _________ sur201,227
6,199,334
1,456,903
1 ,450,000
5 ,058,115
581,160
1 ,000,000
sur208,130
de f2 1 0 ,7 1 0
1,852,021
279 ,955
1 ,658,130
201,227
789 ,290
208 ,130
T o t a l_________________________________
B a la n ce , su rp lu s.........................................
a A c c o u n ts , & c., ch arged o lL Inclu de In 1907-08 s u n d ry ad ju stm en ts
o f o p e ra tin g e xp en ses (In clu din g a d ju s tm e n ts o f Inventories o f m aterials
an d s u p p lie s ). m erger exp en ses, & c .
b C o m p a n y s securities In treasu ry are to be e x ch a n g e d fo r th ose o f the
F errocarrllcs
aetonales d c M exico (N a tio n a l R y s. o f M e x ico .)
c P rofit on re -v a lu a tlo n o f b on d s Inclu des: O n r c -v a lu a tlo n o f $2,5 0 0 ,0 0 0
T a m p ic o H arbor 1st M. T erm in al b o n d s to be ex ch a n g e d fo r $ 2,500,000
T a m p ic o H a rb o r C o. 1st and ref. M. b o n d s taken at the sam e valu e as
S7 500.000 1st an d ref. b o n d s p u rch ased , 9 0 % o f par ($ 2 ,2 5 0 ,0 0 0 , b o o k
value be in g $ 1 ,8 8 8 ,0 3 2 ), $361,908; o n re va lu a tio n o f $1,0 1 3 ,3 5 0 M ex.
G o v e rn m e n t C on solid a ted Internal 3 % b o n d s d e p o site d w ith the M ex.
G o ve rn m e n t to gu aran tee v ariou s con cession s, taken a t 6 6 % o f par, e x
change a t 4 9 V i ($3 3 1 ,0 6 1 , b o o k v alu e $ 2 2 8 ,2 3 5 ), $10 2,82 6: to ta l, $40 4,79 4.
B A L A N C E
S H E E T
J U N E
30.
1908 .
1907.
1906.
T?-»T 7TOT- • '* -A . i •
$
$
$
R o a d an d e q u i p m e n t .________________£ 1 8 2 ,5 4 4 ,1 6 0 184,721,916 180,137,397
1,489,175
S ecurities o f C o m p a n y In treasu ry . .
j/1,795,741
1,500,803
M aterials, fu e l, & c _____________
1,088,023
2,3 9 1 ,7 0 9
B o s to n Safe D e p o sit & T ru s t C o .,
2 ,991,706
trustee s u b s id y f u n d _______________
1,403,302
M e x : G o v t, b on d s held b y G o v t, as
144,001
gu aran ty
. . ...........
1,0 0 0 ,7 5 2
144,001
T a m p ic o H a rb o r C o . b o n d s . . . .
9 ,0 0 0 ,0 0 0
1,915,707 r-*r,1 ,943,382
M exica n P a cific R y . —
.
r ;
C apital s to c k , a t p a r ________
7 ,0 0 0 ,0 0 0
7 , 0 0 0 ,0 0 0 ' 7,0 0 0 ,0 0 0
4,7 5 0 ,0 0 0
1st M . 5 % b o n d s, $ 5 ,0 0 0 ,0 0 0 a t 95
4 ,7 5 0 ,0 0 0
4 ,7 5 0 ,0 0 0
204,622
M exican N ation a l C o n stru ctio n C o . .
0204,656
204,655
B rier H ill Collieries $49 5,00 0 1st M .
„
247 ,500
6 % , c o s t .......... ......................
247 ,5 0 0
247 ,500
S ecurities ot FcrrocarrU c N aclon a le
de M e x ic o --------------------*4,4 5 5 ,7 0 2
-----
350,136
D eferred a c c o u n ts , & c -------------1 ,226,648
2 ,0 0 6 ,8 1 4
1,583,807
A cco u n ts r e c e iv a b le ____________
864 ,502
1,958,292
Cash In ban k an d In h a n d _______ 2 ,6 4 3 ,1 4 4
l ,0 7 o ,o 0 0
A d van ces a c c t . o f c o n s t r u c tio n ______ 1,8 3 8 ,9 5 3
A sse ts—
T o ta l assets___________________2 1 7 ,4 6 4 ,0 4 5
2 0 9 ,0 2 7 ,3 7 5 2 0 4 ,3 0 0 ,8 1 9
Dec. 12 I90».j
THE CHRONICLE
1908.
1907.
1906.
In a b ilit ie s —
$
$
$
5 9 ,1 2 6 ,1 0 0
59,1 2 7 ,1 0 0
5 9 ,127,100
S t o c k _________ ______ __________
B on d s (sec “ R y .& I n d .” S e c t io n )-------1105,071,262 106 ,070 ,96 3 116 ,172 ,46 3
1 4,652,238
G old n otes (V .8 1 , p . 720,‘V . 8 2 ,p . 1407) 3 2 ,0 6 3 ,7 7 6
30,0 4 5 ,1 1 5
1,4 8 2 ,6 8 0
3 ,8 0 8 ,2 3 0
Car and lo c o m o t iv e n o t e s ____________
4 ,410,312
335 ,0 0 0
4 ,8 1 2 ,4 3 4
700,000
N otes & loans p a y a b le ________________
3 ,7 6 4 ,6 7 8
S u n d ry a c c o u n ts p a y a b le _____________
2,784,541
3,9 2 0 ,8 2 4
1,987,842
2 ,3 5 1 ,4 7 7
2 ,252,850
In terest and ren tals a c c r u e d , & c ____
M anzanillo e x te n s io n — b a lan ce due on
pu rch ase o f $ 5 ,0 0 0 ,0 0 0 1st M . bond s
2 ,9 2 8 ,8 4 3
108,422
M exica n P a cific R y . a t 0 5 _________
2 ,9 0 1 ,7 0 6
1,403,302
M exica n G overn m en t s u b s id y .......... T a m p ic o H a rb or C o ., to be e x p e n d e d
fo rco n s tru ctio n p er a greem en t D e c.
4 .5 0 0 .0 0 0
_ _._
____
31 1007---------------------------------- ...........
644 ,139
E q u ip m en t renew al f u n d --------------------770 ,760
770,760
4,500
7,000
B on d s an d n otes c a lle d _______________
7,500
279 ,955
In com e a c c o u n t ________________________
201 ,227
2 0 8 ,1 3 0
1531
Aurora Elgin & Chicago Railroad.
(Report fo r F isc a l Y ear ending Ju n e 30 1908.)
Pres. L. J . Wolf, Cleveland, Oct. 20, wrote in substance:
T r a f f i c . — T h e general business depression w h ic h p re v a ile d last y e a r
w as fe lt e sp e cia lly in m a n u fa ctu rin g districts such as ou rs, an d I am th ere
fore g re a tly p leased w ith o u r passenger earnings. T h e freigh t a n d e x
press business also sh ow s a g ra tify in g increase o v e r last year.
A gra v e l w a sh in g a n d se p a ra tin g pla n t has been establish ed at W a rren sv llle , fro m w h ic h w e r e c e iv e ca rlo a d sh ip m en ts d a lly , a business w h ich g iv es
p rom ise o f Increase. T h e p a v in g o f streets at W h e a to n last y ear p r o d u c e d
co n sid e ra b le business in h au lin g s to n e fro m th e large O ’ L a u gh lln sto n e
quarries at B e llw o o d . A n u m b e r o f a d d itio n a l sidin gs have been Installed
t o fa cilita te the h a n d lin g o f ca rlo a d fre igh t business.
W e have e re cte d a n u m b e r o f new s ta tio n buildin gs a lo n g th e lines fo r
th e co n v e n ie n c e o f passengers.
M an y real esta te su b d iv isio n s arc b e in g
lo ca te d b etw een \V h ea ton an d C h ica go a n d I am c o n fid e n t o f the d e v e lo p
m en t o f new se ttle m e n ts a lo n g o u r line In the near fu tu re .
E x istin g to w n s
alo n g th e lines co n tin u e to show s te a d y g r o w th , due to th e Increased an d
T o ta l lia b ilities............... ....................... 2 1 7 ,4 6 4 ,0 4 5 2 0 0 ,0 2 7 ,3 7 5 2 04 ,300 ,81 0
e ffic ie n t tra n sp o rta tio n facilities a irord ed to an d fro m C h icago.
T h e park business has p r o v e n t o be an Im p o rta n t a n d p ro fita b le featu re
x C ost o f road and e q u ip m e n t Jun e 30 1008 Is m ad e u p as fo llo w s : ba la n ce
o f the su m m er business. F orest P a rk , a large a m u se m e n t resort d e v e lo p e d
J u ly 1 1007, $18 4 ,7 2 1 ,0 1 0 ; c o n s tr u c tio n o f new lines y ear en d in g Jun e 30
b y C h icago ca p ita lists, w as bu ilt o n the th ird -ra il d iv isio n at D esplalnes
1008, $20 5,50 0; acq u isition s o f e q u ip m e n t du rin g y e a r , $334,871; to ta l,
A v e . In the village o f H arlem an d o p e n e d last D e co r a tio n D a y .
$ 18 5,35 2,2 87; d e d u c t, M exican G ov e rn m e n t su bsidies r e ce iv e d , a n d oth er
E x t e n s i o n . — In O cto b e r 1907 th e new H ig h S t. lin e, A u r o r a , a b o u t 1
cred its, $302,821; ex p en d itu re s a c c o u n t co n s tr u c tio n o f T a m p ic o S h ort
m ile In le n g th , w as p la ce d In o p e ra tio n .
L in e, Inclu ded a b o v e In c o s t o f ro a d an d e q u ip m e n t; n o w charged against
M a i n t e n a n c e , & c . — T h e c o m p a n y p u rsu ed a liberal p o lic y w it h re sp ect
th a t c o m p a n y , $335,017; and land term in al railw ay an d o th e r con sid era
to m ain ten an ce o f ex p e n d itu re s, w h ich a m o u n te d to $ 1 5 0 ,5 1 7 , an d the
tion s passin g to T a m p ic o H a rb o r C o. In p a rt p a y m e n t fo r first an d r e fu n d
p r o p e r ty Is, th erefore, In b etter c o n d itio n th an e v e r b e fo re .
ing m ortg a ge b o n d s ” , u n d er agreem en t o f D e ce m b e r 31 1007, $2,160,382 ;
T h e cities o f A u ro r a an d E lgin h a ve d o n e co n s id e ra b le p a v in g a lo n g th e
le a v in g a b a lan ce o f $ 18 2,54 4,1 66.
streets served b y o u r lines and o n these streets o u r lines h a ve been re b u ilt
V $ 1 ,0 0 2 ,0 0 0 c on s ol. M. 4 % b o n d s a t co s t, $70 0,40 3; $92 5,00 0 5 % p r io rity
an d new steel rails laid . A su bstan tial a m o u n t w a s s a v e d b y th is c o m p a n y
b on d s a t cost, $02 5 ,0 0 0 ; $ 8 0 0,00 0 c o n s o l. Incom es a t b o o k valu e, $109,963;
In Its p a v in g c o s t b y ca u sin g bids t o be s u b m itte d t o th e c it y In c o m p e titio n
$28 7,50 0 ca p ita l s to c k a t m arket v a lu e , $60 ,375 ; total $1 ,7 9 5 ,7 4 1 .
On
w ith o th e r co n tra cto rs .
Ju n e 30 1906 there w as also in clu d e d In “ c o n s tru ctio n an d e q u ip m e n t”
B r i d g e s . — T h e villa ge o f C arpentersvllle has r e p la ce d t w o o f Its brid ges
a c c o u n t $3,2 1 2 ,5 0 0 ca p ita l s to c k o f the c o m p a n y a t par, w h ich . It w o u ld
o n M ain S t ., an d o u r track o v e r th em has been r e b u ilt. A t S t. C h arles, o n
seem , m u st be slm lllarly In clu ded in the co rre s p o n d in g Item as o f Ju n e 30
5th S t., w h ere w e pass o v e r the C h icago G reat W estern R y ., c o n c r e te a b u t
190 7.— E d.
2 All the c o m m o n s to c k an d 69,026 p re fe rre d shares, total co st $70 4,65 6, m ents have been bu ilt fo r a steel bridge, w h ich Is n o w u n d e r co n s tr u c tio n .
T h e new steel bridges fo r o u r third-rail d iv isio n at W h e a to n o v e r th e
css p r o p e r ty sold to M exica n P a cific R y ., $50 0,00 0; ba la n ce, $ 20 4,65 6.
C h icago N o rth W estern R y . and o v e r N orth R a ilr o a d S t ., an d also the new
* $ 2 ,814,000 prior Hen 4 > ^ % b o n d s at 92, $ 2 ,614,548 ; $1,8 4 6 ,1 2 5 gen.
M . 5 % bond s a t 84, $ 1 ,550,745 ; 20,743 shares se co n d p re f, s to ck at 14, $ 2 9 0 , steel brid ge o v e r th e Illinois Central R R . at E lgin J u n ctio n , h a ve been c o m
p le te d , rep la cin g th e o rig in a l tim b e r stru ctu res.
W ith the e x c e p t io n o f
40 0 . — V . 87, p . 1160, 813.
fo u r sh o rt bridges, th e aggregate c o s t o f w h ich w ill n o t e x c e e d $ 9 ,0 0 0 , all
bridges o n th e th ird -rail d ivision are o f p erm an en t steel an d c o n c r e te c o n
Interoceanic Railway of Mexico. Ltd.
s tru ctio n an d , In a cco rd a n ce w ith th e p o lic y o f th e c o m p a n y , these fo u r
bridges w ill also be rep laced In the near fu tu re.
{Report for F isca l Y ea r ending Ju n e .'10 1908.)
N e w S u b s t a t i o n . — A t E lgin p r o p e r ty has been se cu re d u n d er lease fo r th e
The report of the directors, signed by Secretary N. Strze" e re ctio n o f a su b sta tio n , In w h ich to Install m od ern ap p a ra tu s fo r o u r
ligh tin g business.
U nder this p la n the curren t fo r E lgin ligh tin g w ill be
lecki, London, Nov. 27 1908, saysin substance:
tra n sm itte d fro m th e cen tral p o w e r-s ta tio n at B a ta via t o this s ta tio n an d
G e n e r a l I t e s u l l s .— D u rin g th e y e a r th e av e ra g e rate o f e x ch a n g e w as a b o u t
tra n sfo rm e d an d then d istrib u te d th ro u g h o u t th e c it y . T h e ele ctrica l
2 4 .5 5 d . p er d o lla r, as a ga in st 2 4 .7 l d . d u rin g the p r e ce d in g y ear.
ap p a ra tu s, Inclu din g th e storage b a tte r y , has been d eliv e re d an d p a id fo r
T h e gross receip ts fo r the y ear sh ow an Increase o f $50 8 ,1 8 0 , o r 7 . 0 6 % ,
an d w e h op e t o have the plant In o p e r a tio n b efore the en d o f this calen d er
c o m p a r e d w ith the p rev iou s y e a r. T h e re w as an Im p ro v e m e n t In the n u m
y e a r.
O n the co m p le tio n o f this s u b sta tio n the o ld E lgin lig h tin g p o w e r
b er o f passengers c a rried , the Increase be in g 8 .2 3 % .w hile the re ce ip ts th e re
house w ill be d ism an tled an d th e ap p aratu s an d p r o p e r ty so ld .
from Increased 7 .8 0 % .
E or the first six m o n th s o f the y e a r the p e r c e n ta g e
T o w e r . — O u r p o w e r pla n t at B a ta v ia has been o p e ra tin g e ffic ie n tly and
o f Increase w as m uch grea te r than fo r t h e s e c o n d s ix m o n th s, o w in g to a e c o n o m ic a lly du rin g th e y ear. T h e en gine an d boilers Installed last y e a r
general depression In trad e d u rin g th e la tte r p e rio d .
are g iv in g e x ce lle n t s e rv ice , and w e have been able t o re d u ce b y 8 % o u r
In g o o d s tra ffic there w as an Increase o f 3 .8 1 % an d In the re ceip ts th e r e
c o a l c o n s u m p tio n per K .W . h our o f o u tp u t.
fro m an Increase o f $ 3 6 8 ,1 0 1 . o r 7 .0 3 % , th e a v e ra g e re ceip ts p e r to n o f
C a r s . — F o u r new Interurban cars h a ve been p u rch a se d an d d e liv e re d .
g o o d s h a v in g been $6 22, a ga in st $0 03.
W e have also pu rch ased a n u m ber o f g o n d o la freigh t cars t o tak e care o f th e
T h e ra tio o f w o rk in g ex p e n d itu r e has been red u ced fro m 73.659!) to
Increase In o u r c a r lo a d freigh t business.
7 0 .0 6 % , this to a large e x t e n t bein g d u e to th e g r e a tly im p ro v e d c o n d itio n
F e e d e r s . — O th e r interests arc u n d ertak in g th e c o n s tr u c tio n o f a line
o f the p erm a n en t w a y .
w e ste rly fro m a p o in t o n the E lgin bra n ch near W h e a to n , to c o n n e c t th e
C h a n g e i n S h a r e C a p i t a l .— T h e bill In P a rliam en t p ro m o te d b y the c o m
c^ty o f W est C h icago an d o th e r a d ja c e n t w e ll p o p u la te d te rrito ry w ith o u r
p a n y fo r dea lin g w ith th e arrears o f d iv id e n d up to Jun e 30 1007 o n the
s y s te m .
W h en bu ilt, this sh ou ld p r o v e a va lu a b le feed er.
preferred shares receiv ed the ro y a l assent In June la st, and In a c c o r d a n c e
A d v e r t i s i n g .— In N o v e m b e r 1007 w e c lo s e d a v e r y s a tis fa c to r y c o n tr a c t
w ith Its provision s each preferred share o f £10 has been e x ch a n g e d fo r £14
fo r all a d v e rtis in g sp a ce In o u r cars, w h ich p r o d u c e s an Increase o f r e v e n u e
o f first preferen ce s t o c k and £10 o f secon d p referen ce s to c k , w hile the o r o f 100 % fo r the sam e ca r sp ace.
d in a ry shares h a v e been c o n v e rte d Into s to c k .
(V . 87, p. 1160.)
R E S U L T S F O R
Y E A R S E N D IN G
J U N E
30.
I m p r o v e m e n t s .— O ne o f th e m ain fa c to r s In the re d u ctio n o f the c o s t o f
h a n d lin g tra ffic has been the elim in ation o f certain o f the h eavy grades an d
190 7-0 8.
190 6-0 7.1
1907-08.
100 6-0 7.
cu rves on the line, to w h ich con sid e ra b le sum s h a ve already been d e v o te d .
$
$
I
$
$
O ne o f the d irectors has la tely le ft fo r M e xico and w ill co n fe r w th the Presi
G ross e a r n . , R R . 1 ,2 8 3 ,5 9 0 1,2 3 6 ,3 5 0 |Other I n c o m e .- * 4 7 ,7 0 6
2 8 ,1 3 6
d e n t o f th e N ation a l R R . C o. o f M e x ico , th e m anagers o f ou r s y s te m , w ith
do
It. d e p t .
77,587
75,758 1
—
a view to carry in g o u t fu rth e r sim ilar Im p ro v e m e n ts, It b ein g the Intention
--------------------------------- -| T o t . net I n c . .
620 ,624
612 ,6 6 8
o f th e b oa rd to a p p ly t o tills p u rp o se the a m o u n t received fro m the V era
T o t . g ross e a r n . 1 ,3 6 1 ,186 1,312,108 | D e d u c t —
C ruz T erm in al C o. h erea fter referred to .
O p er. e x p ., R R .
720,581 660,832 |Int. and t a x e s . .
3 3 3 ,7 0 0 3 1 9 ,8 0 7
T h ese w ork s w ill be so carried o u t as to b e c a p a b le o f being a d a p te d at
d o It. d e p t .
58,687 57,744 ID lv .o n p f .s t k . . ( 5 % ) 1 5 5 ,000
1 5 5 ,0 0 0
slig h t ex p en se to sta n d a rd gau g e w hen the co n v e rs io n o f th e c o m p a n y ’s
------- ----------------ID lv .c o m .
s t k .. ( 3 % ) 9 3 , 000 * 3 8 ,7 5 0
m ain line can be e ffe c te d . T h e b o a rd Is fu lly aliv e to th e Im p o rta n ce o f
T o t . o p e r . e x p . 788 ,2 6 8
727 ,576 |
---------------------------------this co n v e r s io n , b u t th eir n e g o tia tio n s h a v e n o t y e t reached a s ta g e w h ich
P .c . o p . e x .t o e a r n . (57.91)
(55.45)1 T o t . d e d u c ’ n s .
581 ,7 0 0
513 ,557
enables a n y d efin ite a n n o u n ce m e n t to b e m ade.
N et earn, all d e p . 5 7 2 ,0 1 8
584,532 1 13al., s u rp lu s .
38,924
09,111
V e r a C r u t T e r m i n a l C o .— Certain o f th e c o m p a n y ’s land a n d p r o p e r ty
a t V era C ruz an d Its p ier and ligh ter busness w ere transferred to th e Vera
•Other Incom e In 1907-08 includes sale o f p o w e r , $ 3 7 ,4 3 4 ; ren tals, land
C ruz T erm in al C o ., L t d ., as In J u ly 1 4008, th e co n sid e ra tio n re ce iv e d
and b u ild in gs, $ 2,178; Interest an d d is co u n t, $ 1 ,6 3 6 ; e arn in gs, sinking
th e r e fo r bein g th e sum o f £10 0,60 0 In 4 H % d eben tu res o f th a t c o m p a n y .
fu n d in v e stm e n t, $6,458.
T h e w ork in g o f the p o r t Is now u nd er the c o n tr o l o f the T erm in al C o m p a n y ,
* T h e c o m p a n y has been p a y in g q u a rte rly d iv id e n d s o f K o f 1 % o n th e
w h ich Is p r o v id in g g rea tly Im p ro ve d fa cilities fo r th e h a n d lin g and f o r
$ 3 ,1 0 0 ,0 0 0 c o m m o n s t o c k (ca llin g fo r $ 2 2 ,2 5 0 ), b e g in n in g w ith O c t o b e r
w a rd in g o f tra ffic a t V era C ruz.
(V . 8 7 , p. 30.)
1007. T h e $ 3 8 ,7 5 0 p a id fro m th e earn in gs o f th e y e a r 1906-07 llgu res
R e f u n d i n g .— N o tic e Is a b o u t to be given to the h olders o f th e c o m p a n y 's
out l '4 % .
£40 0,00 0 5 % p r io r Hen d eb en tu res o f th e In ten tion to redeem these d e b e n
tures a t p a r on Jun e 1 1009, fo r w hich p u rp o se th e £450,000 4 % d e b e n tu re
J U N E 30 1908.
B A L A N C E
S H E E T
s t o c k , reserved fo r such r e d e m p tio n , has been so ld . T h is o p e r a tio n w ill
I L ia b ilit ie s —
$
c flc c t a sa vin g o f a b o u t £2,000 p er ann um In Interest as from Jun e 1 n e x t,
P r o p e r ty , p la n t, & c _____ 11,013,098 IP r e fcr r e d s t o c k ___________ 3 ,1 0 0 ,0 0 0
an d w ill bring to an end the a rra n ge m e n t u nd er w h ich a p o r tio n o f the net
C on st’ n, lm p ’ ts & b c t t m ’ ts —
IC o m m o n s t o c k ____________ 3 ,1 0 0 ,0 0 0
reven u e av a ila b le fo r d iv id e n d (th is y e a r a m o u n tin g to £20,000) has t o be
T o Jun e 30 100 7________
4 1 4 ,8 0 6 “ F irst & re fu n d in g ” b d s . 1 ,4 0 4 ,0 0 0
carried to a sp cca l reserve fo r th e p r o te c tio n o f the p rio r lien ca p ita l
Y e a r en d ed Jun e 30 1008
180 ,6 3 5 IFIrst m tg e . g o ld b o n d s ___ 3 ,0 0 0 ,0 0 0
T h e b oa rd has reserved t o the p r io r lien d e b e n tu re h olders the right to
E lgin Im p rovem en ts held
IE . A . & S. T r a c tio n c o n .
ex c h a n g e their d eb en tu res n o t la te r than D ec. 23 n e x t a t the rate o f £100
u n d er l e a s e s ------------------12,715 I first m tg e . b o n d s _______ 2 ,0 0 0 ,0 0 0
o f the 4 % d eb en tu re s to c k and £6 In cash fo r each £100 p r io r lien d e b e n tu re ,
" F ir s t & r e f.” b d s . In treas.
304,000 (S alaries an d w a g e s ________
1 9 ,9 3 6
E A R N IN G S
A N D
E X T E N S E S
(U . S . C U R R E N C Y ) .
S inking fu n d In v e s tm e n t. *151,240 IV o u ch e rs & a c c ts . p a y a b le
121 ,624
S In k .fd .— cash w ith trustee
3,300 IN otes p a y a b l e ____________
5 1 ,3 0 0
1007-08.
190 6-0 7.
1005-06.
1004-05.
S in k. fd . a c c r ’ d , n o t p a id .
654 IA c c r u e d Interest an d ta xe s
54,901
1,690,545
1,304,606
1,561,087
1 ,448,847
P assengers c a r r ie d _____
M aterial, su pplies and p re
IA c c r u e d d iv id e n d s ________
6 2 ,0 0 0
2.5 c ts .
2.5 c ts .
R e c e ip ts per p a s s .p e r m .
2 .5 c ts .
2.6 cts.
p a id a c c o u n t s ___________
55,873 (O u tsta n d in g t le k e ts _______
6,9 1 7
001,804
780,523
1 ,049.040
868 ,667
T o n s o f freigh t c a r r ie d ..
Cash In hand an d d e p o s it .
58,935 I R e se rv e fo r d a m a g e cla im s ,
5 .0 cts
5 .0 c ts.
R e c t s . p er ton per m ile.
5 .0 c ts .
5 .0 cts.
A c c t s . & n o te s r e c e iv a b le .
43,681 I & e _______________________
13,156
84,4 5 5 ,7 4 3
88,177,661
N u m b e r o f ton m ile s___ 106,800,281 101,235,851
2 1 1 ,3 0 5
S usp ense __________________
6,283 IP rollt an d lo ss, s u rp lu s___
$
$
$
E a r n in g s —
$
1 ,195,388
1.024,099
1,108,883
961 ,274
P a ssen g ers______________
T o ta l ...................................13,235,220 1 T o ta l ................................ 1 3 , 2 3 5 , 2 2 9
F r e i g h t _____________ . .
5,6 0 4 ,8 5 7
5,2 3 6 ,6 0 3
4 ,637,832
4,424,021
900,860
847 ,340
700 ,812
M is c e lla n e o u s ............... ..
708,399
•Sinking fu n d In vestm ent con sists o f $15 7 ,0 0 0 , p a r v a lu e , E lg in A u ro r a
& S ou th ern b o n d s, pu rch ased and d ep osited w ith A m e r ic a n T ru s t $•
T o t a l ................................
7 ,1 9 2 ,9 2 5
6 ,0 8 6 ,1 0 7
7,7 0 1 ,1 0 5
6 ,4 6 0 ,3 3 0
S av in gs B a n k , tr u s te e .— V . 85, p. 721.
O p era tin g ex p e n se s____
5,2 9 7 ,4 5 9
5 ,305,657
4,5 7 4 ,4 8 2
4,7 5 5 ,7 5 9
N c t c a r n s . (U . S . c u r .) . .
N et e a r n s .(s te r lin g )------
2 ,3 0 5 ,4 4 8
£235 402
IN C O M E
N et c a r n ln g s (a s a b o v e ).
A d d — In terest, & c ..........
A C C O U N T
1007-08.
£
2 35 ,402
1,477
1,895,466
£194,804
1,8 8 5 ,8 4 8
£196,360
1 ,330.348
£138,831
(S T E R L IN G ).
1906-07.
£
194,804
2,589
1905-06.
£
196,360
1,809
1904-05.
£
138,831
1,636
N et In com e....................
236 ,878
197,393
198,169
140 ,467
D ed uct—
20,0 0 0
20,000
R e n t o f M ex. E a st’ ll R y .
20,000
20,000
20,000
I n t . o n p rior lien d e b . 5 %
20,000
20,000
20,000
27,005
27,005
In t. on 1st d eb . stk . 4 %
27,005
27,005
5 1 .750
51,750
In t. on 2d d e b .stk . 1 4 %
51 ,750
5 1 ,7 5 0
(7 % ) 32.862 (7 % ) 32,862 (7 % )3 2 ,8 6 2 ( 4 ^ ) 2 1 ,1 2 6
D iv s. o n “ B ” d e b . stk
(2 )2 0 .0 0 0
D lv . on pref. shares . . . (4 Y i ) 45,000 (3 $4)32,500
20,000
8,000
H c s ’ v c fd . pr. lien d e b . .
13,000
*14,647
217,607
T o t a l d e d u c t i o n s -----B a la n ce, sur. o r d e f ------- sur. 19,271
198,107
d e f. 715
195,254
sur. 2,015
140,871
d e f. 404
* T h c -.14,647 w as transferred In 1905-06 to th e cre d it o f preferred sh are
h old ers In suspense to liq u id a te a m o u n t sta n d in g to their d e b it, rep resen tin g
p r o p o r tio n o f 6 m o n th s ’ d iv id e n d s betw een J u ly 1 an d S ep t. 15 1801 paid to
p referred sh areh olders o u t o f fu n d s re ce iv e d fro m c o n tr a c to r s , b u t n o t
e a r n e d .— V . 8 7 , p . 1160.
Westinghouse Electric
&
Manufacturing Co.
{O fficial Statement of ATov. 30 1908.)
This company, which on Dec. 5 was taken out of receiver’s
hands, has made a statement to the New York Stock E x
change in connection with the listing of additional stock
and bonds (see a subsequent page), which says in part:
In c o n n e c tio n w ith the r e a d ju s t m e n t o f th e d e b t o f the c o m p a n y n o w In
p rogress, cre d ito rs o f tills c o m p a n y h a v e agreed t o a c c e p t In liq u id a tio n o f
au d ite d cla im s u pw ards o f $ 6 ,0 0 0 ,0 0 0 o f a sse n tin g s to c k a t p a r.
A fu r th e r
a m o u n t o f a p p ro x im a te ly $ 6 ,0 0 0 ,0 0 0 o f a sse n tin g s to c k has been s u b scrib ed
fo r a t par, In ca sh , b y c r e d it o r s , s t o c k h o ld e r s and e m p lo y e e s o f this c o m
p a n y , $06 8,37 5 o f such s u b s crlp tl o n s h a v in g been p aid In full In cash.
O u t o f said $ 0 ,5 6 0 ,0 0 0 s t o c k , the lis tin g o f w h ich Is h e r e b y a p p lie d fo r .
It Is p ro p o s e d to Issue Im m e d ia te ly t h e necessary a m o u n ts o f s to c k to said
c r e d ito r s , and t o su bscrib ers fo r s t o c k w h o h a ve p a id In fu ll, an d also t o
a d d lto n a l s b u scrlb crs u p o n full p a y m e n t o f s u b s c r ip tio n s , on o r b e fo r e
A p ril 1 1000.
w<<!
T h e cre d ito r s w h o , as a b o v e s t a t e d , h a v e , t o th e a m o u n t o f u p w a rd s
o f $ 6 ,0 0 0 ,0 0 0 , agreed to take s to c k f o r th eir claim s u n d e r this p la n co n sist
o f h o ld e r s o f m e rch a n d se d e b t to u p w a r d s o f $ 4 ,0 0 0 ,0 0 0 , and h old ers o f
b a n k d e b t w h o h a v e agreed to tak e b o n d s, n otes and s to c k as p r o v id e d
b y th e p la n to an a m o u n t w hich w ill requ ire a p p ro x im a te ly $ 2 ,0 0 0 ,0 0 0 o f
a s s e n t in g s t o c k , a n d su b scrip tio n s f o r a p p ro x im a te ly $ 6 ,0 0 0 ,0 0 0 o f newa s s e n t in g s t o c k h a v e been rece iv e d .
1532
THE CHRONICLE
S im u lta n eou sly w ith th e d isch a rge o t th e re ce iv e rs , o r as n ea rly s o as
.p r a c tic a b le , It Is In ten d ed t o Issue the new s t o c k t o c r e d ito r s an d s u b
s c r ib e r s .
T h e fo llo w in g ta b ic sh ow s Issuance o f assen tin g s t o c k an d 5 % c o n v e r tib le
b o n d s In s e ttle m e n t o f th e In d ebted n ess o f th e c o m p a n y as s e t fo rth In th e
p la n :
F o r n otes o w in g t o b a n k s ___________ $ 6 ,4 4 4 ,3 5 0 0 0 1 S t o c k —
$ 6 ,4 3 1 ,0 5 0 00
F o r n otes Issued f o r m e rch a n d ise
1B o n d s - 3 ,6 3 5 ,0 0 0 00
a n d c u rre n t a c c o u n t s ------------------3 ,6 2 2 ,4 7 7 4 5 J
T o t a l ____________________________ 5 1 0 ,0 6 6 ,8 2 7 45
$ 1 0 ,0 6 6 ,0 5 0 00
S u b s crip tion s t o $ 6 ,0 0 0 ,0 0 0 assen tin g c a p ita l s t o c k a t p a r fo r cash :
S to c k h o ld e r s , $ 2 ,4 0 4 ,5 5 0 ; c r e d ito r s o f S e cu rity I n v e s tm e n t C o ., $ 1 ,5 4 0 ,3 0 0 ;
a n d P itts b u r g h b a n k s an d tru st c o m p a n ie s , $ 1 ,5 0 2 ,7 7 5 , t o b e e n te re d o n
th e b o o k s o f th e c o m p a n y as S e cu rity I n v e s tm e n t C o. s u b s c r ip tio n fo r
$ 3 ,0 0 0 ,0 0 0 ; e m p lo y e e s , $ 6 1 1 ,2 5 0 ; to t a l, $ 6 ,0 5 8 ,8 7 5 . T o t a l p a rtia l p a y
m e n ts , $ 1 ,6 2 2 ,0 3 2 ; t o ta l fu ll p a id s u b s c r ip tio n s , $9 6 8 ,3 7 5 ; t o ta l cash p a id ,
$ 2 ,5 9 0 ,4 0 7 .
S T A T E M E N T O F A S S E T S A N D L I A B I L I T I E S A S O F S E P T . 30 1908 . B E F O R E
A N D
A F T E R
A P P L IC A T IO N
B e fo re .
O F
R E A D J U S T M E N T
A lt e r ( A p - j
p r o x im a t e )
P L A N .
B efore.
A / te r ( A p p r o x im a t e )
A sse ts—
$
S
L ia b ilit ie s —
$
$
P roperty & plant-20,961,908 20,961,908 Capital stock.......... 27,938,200 40,370,150
Investm ents— Stks
Conv. 5% s .f .b d s .18,600,000 22,134,877
& bds.of oth.cos.31,188,310 31,188,310 D eb.
certs, due
W orking assets—
July 1 1913------ 1,969,000 1,969,000
Haw
material,
Coll. 6 % 3-year
finished stocks &
n o te s .................... 6,000,000 6,000,000
work In progress,
Coll. 5% 10-year
lnsur. paid In
notes (French)
advance, &c . . . 9,874,373 9,874,373
l o a n ) . . . ............... 2,702,703 2,702,703
’Quick assets—
Notes Issued for
C a sh .................... 9,059,990 9,059,990
money borrowed 7,919,000
.
Subscriptions to
Four, 5, 6 and 15n ew stk . at p a r ......... ..
6,000,000
year 5% notes
Special cash dep, 1,535,120 1,535,120
iss. under plan....................... 1,474,650
A ccts. recelv.—
Notes lss. for mdse. 1,290,766 _________
A v a ila b le .. 5,488,827 5,488,827 Current accounts
Notes recelv—
for merchandise,
A v a ila b le.. 1,227,081 1,227,081
accrued Interest,
D ef. assets, due by—
taxes, & c--------- 4,784,313 2,452,602
Security Inv.Co. 1,290,000 1,290,000 Subscrip, to securi
Nernst Lamp Co.
448,789
448,789
ties of affil. co s.
756,945
756,945
Foreign WestingReserve— Invent'y
house cos ____
576,191
676,191
adjustments,&c.
178,473
178,473
Overdue Int. on
Surplus .............. -.10.279,293 10,279,293
Investments. .
288,200
288,200
379,904
Miscellaneous . .
379,904
Total assets------ 82,318,693 88,318,693
Total llabllltles.82,318,693 88,318,693
N o t e . — (1) T h is s ta te m e n t d o e s n o t Inclu de co n tin g e n t assets o r liab ilities.
A s o f O ct. 23 1907 these a m o u n te d to $ 3 ,1 4 6 ,2 5 6 2 2 , and h a v e been redu ced
t o $ 1 ,6 6 3 ,7 8 9 23.
(2) P u rsu a n t t o th e re a d ju stm e n t pla n , the c o m p a n y
has re c e iv e d su b s c r ip tio n s a t p a r fo r new a ssen tin g s to c k as fo llo w s 1 S u b
sc r ip tio n s p a y a b le In ca s h . $ 6 ,0 0 0 ,0 0 0 ; s u b scrip tio n s p a y a b le liv the
s u rren d er o f floa tin g d e b t , $ 6 ,4 3 1 ,9 5 0 ; t o t a l, $ 1 2 ,4 3 1 ,9 5 0 . T h e to ta l cash
re ce iv e d t o d a te on s u b s crip tio n s p a y a b le In cash has been $2 590 407 o f
w h ic h $ 96 8,37 5 fro m fu ll-p a id an d $ 1 ,6 2 2 ,0 3 2 fro m p a rtia l-p a id subscrlD lon s, as a b o v e s t a t e d .— VT 8 7 . p . 1483. 1425.
G E N E R A L IN V E S T M E N T N E W S .
RAILROADS, INCLUDING ELECTRIC ROADS.
Aberdeen Southern & Huron (Electric) Ry . — Bond Issu e .—
A mortgage was recently filed at Aberdeen, S. D., to the
Carnegie Trust Co. of New York, as trustee, to secure an
issue of $2,500,000 bonds.
T h e c o m p a n y has m a d e su rv e y s f o r a n e le ctr ic ln teru rb an line b e tw e e n
H u r o n a n d A b e rd e e n , a d is ta n c e o f 80 m iles. T h e c o m p a n y w as In cor
p o r a t e d In S ou th D a k o ta o n Jun e 24 la st w ith $ 2 ,5 0 0 ,0 0 0 au th o riz e d sto o k
J . A . C lea v er o f H u ron Is P re s id e n t, th e o th e r In corp orators b e in g J o h n W
C lark , L . L a p le r , J. P S ta h l, G VV. Lon gstalT , O scar A . R ic k e r . R D W h o r t o n , R . C . G ibb s an d H . J. R i c e , all o f H u ro n .
’
Atlantic & Suburban R y.— Successor C om pany. —This
company was incorporated in New Jersey on Dec. 7 with
$650,000 of authorized capital stock as a reorganization of
the Atlantic City & Suburban Traction Co. recently fore
closed. (V. 87, p. 1237, 1299). The directors are:
R o b e r t W e th e r lll (P r e s id e n t), W illia m S . B la k eley an d R ic h a r d W e th e r 111, all o f C h ester, P a .; Joh n S. B la c k , A tla n tlo C ity , N . J ■ G a rn ett P e n d le
t o n , U p la n d , P a .
Baltimore & Ohio RR.— M aturing B onds. —The $638,000
first mortgage 7% bonds of the Sandusky Mansfield & Newark
R R . Co. will be paid at maturity Jan . 2 at the office of
the B . & O. R R ., 2 Wall St.—V. 87, p. 1357, 10 15 .
Bolivia R y.— Contract R a tifie d . —The shareholders of the
Antofagasta & Bolivia R y. Co., Ltd., at a special meeting
in London, Dec. 10, approved the contract made by their
board of directors with Speyer & Co. and the National City
Bank, for the acquisition and control of the Bolivia Railway
Co. and the purchase and guaranty of interest on its first
mortgage bonds.—See V. 87, p. 1477.
Boston & Maine RR.— R egular D ivid en d . —The directors
have declared a quarterly dividend of 1 ^ % on the common
stock, payable Jan. 1, being the same rate as paid in October
last. Compare V. 87, p. 1357, 613.
B on ds — N otes. —The directors at thoir meeting on Tuesday
did not vote to issue any of the $12,000,000 bonds authorized
by the stockholders in October last (V. 87, p. 1009).
T h e c o m p a n y has ou ts ta n d in g $ 1 1 ,3 5 0 ,0 0 0 o f s h o r t-te r m ob lig a tio n s
m a tu rin g o n o r b e fo r e M ay 2 n e x t , n a m e ly , $ 3 ,0 0 0 ,0 0 0 o f 6 % notes due
$ 1 ,0 0 0 ,0 0 0 each In Jan . F e b . an d M arch n e x t , $ 7 ,3 0 0 ,0 0 0 o f 3 ^ % notes
m a tu rin g in A p ril and M a y , and $ 1 ,0 5 0 ,0 0 0 d u e b a n k s o f d e p o s it o n D e c. 27
a n d Jan . 1 an d 2.
W h ile w e are In form ed th a t th e m a tte r has n o t been
« eflm tely d e c id e d , It Is c u r r e n tly r e p o rte d th a t th e s h o r t-te r m n otes w ill
p r o b a b ly b e e x te n d e d fo r s ix m o n th s o r th e re a b o u ts as th e y m atu re,
d e fe rrin g lo n g -tim e fin a n cin g u n til a la te r d a t e .— V . 8 7 , p . 135 7, 1237.
[VOL. LXXXVII.
N ew Trustee.— Guy Murchie has been elected a trustee for
one year to fill the unexpired 3-year term of H. Fisher Elbridge, resigned.—V. 87, p. 165, 96.
Carolina Valley (Electric) RR.—Receivers’ S a le .—This
partly constructed road, to extend from Thomasville to
Denton, N. C., 30 miles, was sold at receivers’ sale at High
Point, N. C., to M. L. Jones of Denton, N. C., and W. T.
Van Brunt of New York. At the same time the rights and
franchises of the North Carolina Electric Co. were sold to
E. I). Steele of High Point and Mr. Van Brunt. The
purchasers are reported as saying that both roads will be
completed.
f
ioi J
° m,th e N orth C arolina C o m p a n y w as t o b e b u ilt fro m H ig h P o in t
p reens b o r o and W in s to n -S a le m . A m ile o f tra ck has b een
f y .? “ ™ , rlt am i m o s t o f th e g ra d in g d o n e b e tw e e n th a t c it y an d
tons™ M oose'ralTs10 SalG °* th e C a ro*lna V a lle y C o m p a n y In clu ded 110
Chesapeake & Ohio Ry.— N ew F in a n c in g .—The company
is reported to be considering the matter of a new bond issue
to refund the $7,500,000 collateral trust 6% notes maturing
in 1910 and also equipment obligations, and to provide some
additional funds. The amount to be raised is reported to be
from $20,000,000 to $25,000,000. It is presumed that
Kuhn, Loeb & Co., who have been heretofore identified with
the financing of the company’s requirements, will be the
bankers in the matter.— V. 87, p. 1418, 1089.
Chicago & Milwaukee Electric RR.— Tim e Extended.— The
time for depositing Wisconsin Division bonds with the
National Trust Co., Toronto, and the Chicago Title & Trust
Co., Chicago, under the bondholders’ agreement, dated
Oct. 10 1908, has been extended to and including Dec. 16
1908. On Dec. 4 over $6,500,000 of the $10,000,000 issue
had been deposited and the agreement was in full force.
See V. 87, p. 1477, 1237. “ Chicago Economist,” Dec. 5 said:
T h e p r o te c tiv e co m m itte e o f th e W isco n sin D iv is io n b o n d h o ld e r s ’ c o m
m itte e has pushed the su it fo r co n s o lid a te d fo re clo s u re , w hile the h olders
o f Illin ois D iv isio n b o n d s h a ve b e e n qu a rrelin g a m o n g th e m se lve s an d are
n o t e v e n a p a r ty to the fo re clo s u re p r o ce e d in g s . T h e W isc o n s in D ivision
b o n d h o ld e rs are cla im in g th a t 20 m iles o f th e ro a d fro m L a k e B lu ll, 111.,
t o th e S ta te line w as bu ilt fr o m the p ro ce e d s o f the sale o f W iscon sin
b o n d s an d th at a b o u t $2 ,0 0 0 ,0 0 0 o f the p ro ce e d s o f the sale o f these b on d s
w ere used to p a y Interest a n d c a r r y o n re h a b ilita tio n o f p o rtio n s ot the
Illin ois D iv is io n line.
Leopold Goldman, General Manager of the North American
Life Assurance Co., Toronto, is Chairman of the committee
for the Illinois Division bonds. Compare V. 87, p. 1476,
1477.
v
Chicago Milwaukee & St. Paul R y.— Paym ent of M aturing
Bonds. —The $1,106)500 Wisconsin Valley ltR . Co. 7% bonds
will be paid at maturity Jan. 1 1909 at office of Ch. M. &
St. P. Ry. Co. in New York or at office of Lee, Higginson &
Co. in Boston, at option of holders.—-V. 87, p. 1357, 1237.
Chicago Railways.— Perm anent Bonds R e a d y . —’Tempo
rary certificates representing the first $5,000,000 of first
mortgage bonds, being certificates Nos. 1 to 22 for $50,000
each; Nos. A-l to A-250 lor $5,000 each; Nos. B -l to B -165
for $10,000 each, and Nos. 1 to 1000 for $1,000 each, are
now exchangeable at the office of the Harris Trust & Savings
Bank, Chicago, trustee, for the permanent coupon bonds.
Com pany Reported to have Purchased $700,000 C B onds. —
A press dispatch on Dec. 9 said:
I t Is learned th at the C h icago R a ilw a y s C o . has p u rch a sed In th e o p e n
m a rk e t d u rin g the p ast fe w m o n th s u pw ard o f $70 0,00 0 o f its c o n s o lid a ted
m o rtg a g e 4 % series C b o n d s. T h ere w ere o n ly $ 4 ,0 0 0 ,0 0 0 o f these secu rities
Issued.
U n d er the term s o f the m o rtg a g e the c o m p a n y m u st retire n o t less
th a n $25 0,00 0 o f series C b o n d s a n n u a lly .— V . 87, p . 1 4 1 9 , 1 3 5 7 .
Cripple Creek Central Ry.— Stock at A u ctio n . —Foreign
creditors of the bankrupt firm of Kessler & Co. sold at
public auction through Adrian H. Muller & Son, New York,
on Dec. 9 1908, $570,040 of the $3,000,000 preferred, at
prices ranging from 51 to 55 per share, and $512,300 of
the $2,500,000 common at from $30 to $33 50 per share
(par $100.) Compare V. 87, p. 1419, 346, 1234.
Dakota Kansas & Gulf RR. -N ew C om pany— Possible
U nion P a cific Project .—The company was incorporated in
Kansas on Nov. 28 with $3,000,000 authorized stock, to
build a line from Beloit, K an., at the northern terminus of
the Solomon branch of the Union Pacific, to Kearney, Neb.,
on the main line of that company, 110 miles. A contract
has been let to the lnterurban Construction Co. of New
York, of which Leslie M. Shaw, former Secretary of the
Treasury, is President. The road is supposed to be a Union
Pacific project, forming a connecting link between the north
and south branches of the company. The incorporators arc:
F . T . L o c k e , N ew Y o r k ; C . E . G a rd n e r, F . T . L a rm o n , J o h n B . H o lm e s ,
N.
R . H o lm e s and E u gen e B ry a n , T r o y , N . Y .; G . M . N a y , S a n d y H ill,
N . Y . ; C . B . W In cg a r, L e b a n o n , K a n .; F red B eeler and J . T . A n d e r s o n ,
I o n ia , K a n .; C . W . K lb le r , W . H . R o e and J . M . P a tte r s o n . K e a r n e y ,
N e b .; W . H . M itch ell and H . B a er. B e lo it. K an.
Dayton (Ohio) Street R y.— New Stock. —This company
recently filed amendments to its charter with the Secretary
of State in Ohio, increasing its capital stock from $10,000 to
$1,200,000, $600,000 being common and $600,000 5%
Boston Suburban Electric Cos.— Report.-—For year ending cumulative preferred. To be issued at present, all the com
Sept. 30:
*
•
6 mon but only $550,000 preferred. Par of shares, $100.
No bonds or mortgage.
¥ ™ I S—
G ro ss.
N et.
D iv d s.
B a d A ccts.
B a t., S u r .
------------- $22 3,53 0
J S n r ' n l ---------------- l i i ' 2 1 0
19?r5' 0« 1 --------------- 197 l78°
— V . 8 7 , p . 1418.
$17 7,22 2
188 ,490
1 53 .520
$3 5 ,3 3 9
1 41 ,357
1 17 ,797
$1,252
---------------------
$140,631
47,133
35.JT23
Boston & Worcester Electric Companies.—R eport .—^For
the year ending Sept. 30:
F isc a l
Y e ar—
D is.o n B .A W . St. R y.
1 9 0 7 -0 8 . $12 1 ,4 9 4
1 9 0 6 -0 7 . 103,494
O ther
In c o m e .
Total
In c o m e .
$20 ,167
3 6 ,0 6 0
$141,661
139.554
P r e f.D iv .
($4 p e r s h . )
$13 5,74 4
135,744
M is c e l- In t . o n
B a l ,
I a n ' s . 3 -p r . N o t e s . S u r .
$ 3 ,216
2,1 5 3
$ 2,088
...........
$613
1,657
T h e c o m p a n y w as gra n te d a fra n ch ise In S e p t. 1907 t o c o n s tr u c t a 12m lle ro a d ru n n in g fro m the southeastern;! s e ctio n o f th e c it y t o D a y to n V iew
an d th e n ce a lo n g Sal m p ik e t o th e P h ila d e lp h ia road In H arrison T o w n
sh ip . T h e o rd in a n ce requires t h a t th e c o m p a n y p a y t o th e c it y an n u a lly
1 t o 3 % o f Its gross r e ce ip ts a fte r t w o years o f Its first o p e r a tio n .
O fficers ,
P re s id e n t, A d a m S ch a n tz ; S e c r e ta r y , A lb e r t E m a n u e l: T r e a s u r e r , E d w a rd
W . H a n le y
Delaware Tunnel R R .—New C om pany.— The company
was incorporated in Pennsylvania late last month with $ 10 ,
000 (nominal) stock to build a double tunnel under the
Dec. 12 1908. |
THE CHRONICLE
Delaware River between Philadelphia , Pa., and Camden,
N. J . , each to have a single track. The estimated cost of
the enterprise is put at about .$10,000,000. See editorial
in last week’s “ Chronicle,” page 1389. The directors are:
W illia m A . S t e r n P resid e n t; Isa a c H . S ilv e rm a n , E d w in W o l f, B e n j.
W o lf, C h as. F . W a g n er J r ., A lv in W . F r o m , F ran k A . B a rn e tt, all o f P h ila
d e lp h ia .— V . 87, p. 1389.
Denver & Rio Grande R R .— Stock of N ew Co. L isted .—
The New York Stock Exchange has listed $38,000,000
common and $45,754,400 preferred stock of the consolidated
company in substitution for the same amounts of stock of
the old company, and has authorized to be added to the
list $25,400 additional new preferred stock on notice of issu
ance in exchange for unlisted preferred stock of the old
company and outstanding preferred and common stocks
of the Rio Grande Western R y . under the terms of agree
ment of consolidation.— V. 87, p. 1419 , 677.
Detroit Toledo & Ironton R y .— Sale A g a in Postponed .—
The sale of the collateral securing the 5% gold notes has
been again postponed until Dec. 22, the injunction recently
obtained having not vet been dissolved. Compare V. 87,
p. 1478, 1357.
Elberton Air Line R R .—-Sold .—A t the judicial sale
on Dec. t the property was bid in by H. V. Poor of
New York for $581,252. At Atlanta on Dec. 2 Judge W. T.
Newman in the United States Circuit Court approved the
sale. The Elberton Southern R y. Co. was incorporated on
Dec. 2 as the successor company, with $200,000 capital stock,
in the interest, it is understood, of the Southern R y. Co.
The Georgia Railroad Commission has been asked to sanc
tion an issue of $250,000 50-year 5% bonds.
T h e new b on d s w ill b e d e p o s ite d u nd er the llrst general m o rtg a g e o f
th e S ou th ern R a ilw a y C o. In lieu o f th e old E lb e r to n A ir L in e b o n d s w h ich
w ere s o d e p o s ite d .— V. 8 7 , p . 936.
Freight Rates .— N ew Transcontinental R ates .—The freight
tariffs of the Transcontinental Freight Bureau, which are to
take effect Jan. 1 1909, will, it is stated, result in an advance
of about 10% in the commodity rates, under which about
90% of the transcontinental traffic is carried. These tariffs
apply only to the rates west of Chicago and do not effect
the trunk-line schedule, which is still to be settled.
1533
T h e c o n s o lid a te d m o rtg a g e co v e rs a b o u t 2,6 0 0 m iles o f m ain line In
M in n e so ta , N o rth D a k o ta a n d S o u th D a k o ta , In clu din g th e term inals
a t S t. P aul an d M in n eapolis a n d an a m p le e q u ip m e n t.
O n a large p a rt
o f this m ileage It Is n o w a first lien , an d n o t later than N o v . 1 1910 It w ill
b e c o m e a first Hen on a ll.
I t Is also th e o n ly lien u p o n th e U n ite d S tates
lan d g ran t o f w h ich there rem ain ed u n so ld Ju n e 30 1908 a b o u t 155 ,000
acres, an d o n 6 % la n d c o n tra cts o n la n d so ld t o th e a m o u n t o f $ 43 1,25 1.
1 he pro ce e d s o f these lands an d land co n tra cts m u st be ap p lie d t o the
p u rch ase an d ca n c e lla tio n o f co n s o ls, a t the best price a t w h ich th e y
can be o b ta in e d . T h e lien o f the m o rtg a g e , a fte r retirem en t o f th e u n d er
ly in g b o n d s, w ill b e , w ith o u t a llo w a n ce fo r ca n ce lla tio n s th ro u g h th e
fu n d , u n d er $ 16 ,700 p er m ile . T h e m o rtg a ge is lim ited t o $50 ,
0 0 0 ,0 0 0 , a m o u n t Issued, $ 4 0 ,9 7 6 ,0 0 0 ; ca n ce le d b y sin k in g fu n d , $6 ,4 1 2 ,0 0 0 ;
? 34 .5 6 4 ,q p 0 , in clu d in g $ 1 3 ,3 4 4 ,0 0 0 6 % b o n d s a n d $2 1 ,2 2 0 ,0 0 0
4
bo nds .
O n ly $ 9 ,0 2 4 ,0 0 0 a d d itio n a l co n so ls can be issued and fo r
th e sole p u rp o se o f re fu n d in g an e q u a l a m o u n t o f b o n d s o f th e Issues n am ed
above,
r o r th e presen t th e a d d itio n a l b o n d s w ill be Issued as 4 % b o n d s.
— V . 87, p . 1164, 1154.
Interborough Rapid Transit Co.— L isted .—The New York
Stock Exchange has listed the outstanding $24,500,000
three-year convertible 6% notes, due 19 11 . Compare
circular V. 87, p. 1479; V. 86, p. 110 0 , 1042, 981. The
application to the Stock Exchange will be found in our col
umns next week.—V. 87, p. 1479, 936:
International Traction Co., Buffalo .— Called B o n d s .—Ten
second mortgage bonds of the Buffalo & Niagara Falls Elec
tric R y. dated Ju ly 1 1896 have been drawn by lot for re
demption on Jan. 1 1909 at the Mercantile Trust Co., New
Yqrk, at 105 and interest.—V. 87, p. 873.
Lake Shore & Michigan Southern R y .— Lehigh Valley
Stock S o ld .—It was announced on Thursday that the 114,000
shares ($5,700,000 par value) of Lehigh Valley R R . stock
owned by the company has been liquidated in the stock
market at Philadelphia, the last of the holdings having been
disposed of on that day. Compare annual report, V. 86,
p. 802.— V. 87, p. 226.
Lehigh Valley R R .— Sale of Stock .—'See Lake Shore &
Michigan Southern R y. above.— V. 87, p. 13 0 1, 816, 806.
Lehigh Valley Transit Co., Allentown, P a .— Voting Trust
Extended T ill N ov. 3 19 11 .—Assents having been received
from the holders of a large majority of the outstanding pre
ferred and common stock, the voting trust has been extended
as to the assenting certificates for a further period of three
years lrom Nov. 3 1908, the trustees having power to
terminate the trust earlier. An official notice follows:
G.
J. R a d le y , G eneral M anager o f a C a liforn ia a s s o c ia tio n , estim ates N o tic e Is h e r e b y Riven to su ch h olders o f ce rtifica te s o f be n e ficia l Interest
th a t th e Increase In w e stb o u n d fre ig h t rates to the C oa st w ill m ean an in o f th e L eh igh V a lle y T ra n sit C o. as h a v e b e c o m e p arties t o th e ag re e m en t
crease o f $1 0 ,0 0 9 ,0 0 0 In fre igh t ch a rg e s , at least o n e -h a lf o f w h ich w ill
m a d e S ep t. 30 1908, In e x te n s io n o f th e v o t in g tru st ag re e m e n t s o fa r as It
h a v e to be p aid b y sh ippers In C a lifo rn ia , w hile th e Increase In rates on
relates to th e certificates held b y th em , re s p e c tiv e ly , th at th e u n d ersign ed
e a s tb o u n d sh ip m en ts w o u ld m ean an a d d itio n a l a d v a n c e o f $ 1 ,0 0 0 ,0 0 0 In
v o tin g trustees o n N o v . 30 1908 d eterm in ed th a t said e x te n s io n a g reem en t
fre ig h t ch arges. T h e ea s tb o u n d tr a ffic Increase o f a b o u t 10 ce n ts a hu n dred
sh ou ld b e o p e ra tiv e and the n d eclared th e sam e to b e s o .
(S igned b y the
p o u n d s , he s a y s , a lfe cts m uch o f C a lifo rn ia ’s p r o d u c t s , an d a m o u n ts to
v o tin g tru stees.) C om p a re V . 8 7 , p . 1011.
$40 a c a r .— V . 87, p . 48 0 , 166.
Fort Wayne & Wabash Valley Traction Co.— L isted .—
The Philadelphia Stock Exchange has listed $6,966,000 first
consolidated mortgage 5% 30-year bonds due March 1 1934.
(Compare V. 78, p. 2 0 11.)—V. 83, p. 37.
Georgia & Florida R y .—•Syndicate Extended U ntil 19 10 .—
A circular signed by the International Trust Co. of Mary
land, Douglas II. Gordon, President; John L. Williams &
Sons and Middendorf, Oliver & Co., syndicate managers,
announces the extension of the syndicate agreement until
Jan. 1 1910 as follows:
Y o u arc h ereb y n otified th a t th e s y n d ic a te a g r e e m e n t d a te d N o v . 30
1906, fo r th e p urchase o r u n d e rw ritin g o f secu rities o f the G eorgia & F lo rid a
R y . C o ., o f w h ich th e u n d ersign ed are s y n d ic a te m a n a g e rs, has been e x
ten d ed until Jan. 1 1910. T h is e x te n s io n lias b e e n m a d e e ffe c tiv e b y a r e s o
lu tio n passed b y the s y n d ic a te m anagers an d th e a sse n t, In w ritin g , to such
e x te n s io n b y m ore than th re e -fo u rth s In Interest o f th e s u b scrib e rs, w h ich
w ritte n assen t has been filed w ith th e d e p o s it o r y , th e In te rn a tio n a l T ru s t
C o. o f M a ry la n d .— V . 87, p . 93 6 , 480.
Grand Trunk Pacific R y .— New Secu rities. —The company
announces its intention to apply to the Parliament of Canada,
at its next session, “ for an Act authorizing a further issue by
the company of bonds or perpetual or terminable debenture
stock, or both, for such amounts as may be determined
upon and fixed by such Act, and to apply the proceeds to the
general purposes of the company.” — V. S7, p. 873, 677.
Grand Trunk Railway Co. of Canada .— New Secu rities .—•
The company gives notice that it will apply to the Parlia
ment of Canada at its next session for an Act authorizing the
company to create and issue “ additional Grand Trunk con
solidated debenture stock” and “ Grand Trunk 4% guaranteed
stock,” respectively, in such amounts, subject to the limi
tation to be fixed by the said Act, as the proprietors of the
company may from time to time determine.”
See also Grand Trunk Pacific Ry. above.— V. 87, p.
1478, 1300.
Great Northern R y .— L isted .—The New York Stock E x
change has authorized $9,024,000 consolidated mortgage
4% bonds to be added to the list from time to time on notice
of issuance in exchange for $5,078,000 second mortgage 6%
bonds, due Oct. 1 1909, and $3,940,000 Dakota Extension
6% bonds, due Nov. L 1910.
Option of Exchange .—The company having purchased all
the property formerly belonging to the St. Paul Minneapolis
& Manitoba R y. Co., and having assumed payment of its
outstanding mortgage bonds, and of such bonds as it may
issue to refund the same, is offering to exchange the aforesaid
second mortgage bonds due Oct. 1 1909 and the Dakota
extension bonds, due Nov. 1 1910 for consolidated mortgage
4% bonds of the St. P. M. & M., due July 1 1933. The
second mortgage bonds will be exchanged for the present,
dollar i o f dollar, with an adjustment of interest to date of
exchange and a bonus of $10 cash on each bond surrendered.
The terms offered the Dakota extension bonds may be
learned a-t the company’s office. 32 Nassau St., N. Y . A
circular, dated Dec. 1, says in substance:
Metropolitan Street Ry., New York.— Stone & Webster
to A id in Reorganization. —The joint reorganization com
mittee, John W. Castles, Chairman, has engaged the Boston
firm of Stone & Webster, specialists in street railway and
electric-lighting properties, to assist in the work of reorgani
zation. G. E . Tripp, of Boston, has also been emploj'ed
to act as adviser to the committee. Stone & Webster will
open a New York office at No. 45 Cedar St. and proceed
immediately to a physical examination of theproperty.—V.
87, p. 1479, 1358.
Mt. Airy & Eastern R y.— Sale Postponed T ill J a n . 4.—
United States District Judge Boyd in Greensboro, N. C.,
on Dec. 3, at the request of creditors postponed the receivers’
sale of this 19-mile road (Mt. Airy, N. C., to Danube, Va.)
from Dec. 7 to Jan. 4. The receivers are E . M. Wiley of
New York and J . A. Mills of Raleigh. The Southern Railway
owns most of the bonds.— V. 79, p. 2147.
Muskegon Grand Rapids & Indiana RR.— Coupon P a y
ment.—Coupon No. 43, due Jan. 1 1908, is now being paid at
the office of Winslow, Lanier & Co. The surplus Aug. 25
1908, after paying coupon No. 42, was $3,235; the net earn
ings for the three months—July to September, inclusive—
were $18,524; total, $21,759; amount required to pay coupon
No. 43, $18,750; surplus as of Oct. 1 1908, $3,009.—V.
87, p. 614.
New Orleans Railway & Light Co.— Sale of B o n ds. —Three
New Orleans banks—the Canal-Louisiana, Whitney-Central
and Hibernia—have exercised their option on $2,441,000
general mortgage 4 J/£% bonds dated 1907 (V. 82, p. 1502),
which were pledged in 1908 to secure an issue of $1,300,000
6% notes (V. 86, p. 1590) due June 20 1909, but subject to
call on any interest day at 10 1. The sale has enabled the
company to pay practically all of its outstanding debts in
curred for improvements and additions, placing it “ in a very
comfortable position for carrying on the business.” The
amount of general mortgage bonds outstanding is increased
by the sale to $17,484,000.— V. 87, p. 415.
National Railways of Mexico.— Status as Reported by F i
nance M in ister of M exico. —Finance Minister Limantour on
Nov. 18 sent to the Congress of Mexico a voluminous report
covering the acts of the Executive in connection with the
merger of the Mexican Central R y. and the National R R . of
Mexico, to form this new company known as the National
Railways of Mexico, in which the Government itself is the
chief shareholder. The “ Mexican Herald” of N ov.19 sum
marized the most important portions of the report as follows:
G o v e r n m e n t ' s G u a r a n t y . — S p ea k in g o f th e general m o r tg a g e b o n d s b e a r
in g 4 % In terest, w h ich th e G o v e rn m e n t gu a ra n tees. M in ister L im a n tou r
sh ow s th at fo r th e tim e b e in g th e a m o u n t o n w h ich Interest w ill h a v e to
be paid Is o n ly $ 6 0 ,0 0 0 ,0 0 0 g o ld , w h ic h , a t 4 % , w ill requ ire $ 2 ,4 0 0 ,0 0 0 ,
a n d the M in ister add s;
“ If It be ad d e d th a t, In a c c o r d a n c e w ith A r tic le 13 o f th e d e cre e o f J u ly
6 19Q7, th e a p p ro v a l o f the D e p a r tm e n t o f F in a n ce Is n ecessary fo r a n y
new em ission o f b o n d s. It w ill ap p e a r th a t It w ill b e In th e G o v e rn m e n t’ s
p o w e r to re g u la te th e Issue o f secu rities th a t d ir e c t ly o r In d irectly a ffect
ts lia b ility , so th a t new Issues w ill o n ly b e m ade o n a scale c o m m e n s u ra te
[VOL. LXXXVII
THE CHRONICLE
1 5 3 4
w i t h t h e I n c r e a s e d e a r n i n g c a p a c i t y o t t h e c o m p a n y , a n d w h e n I t Is h i g h l y
p r o b a b le t h a t t h o s e e a r n in g s w ill b e s u f fic ie n t a m p ly t o c o v e r b o t h fo r m e r
c h a r g e s a n d th e n e w o n e s t o b e a s s u m e d .”
G o v e r n m e n t ’ s C o n t r o llin g I n t e r e s t .
(1 )
S h a re
C a p ita l
of
th e
N e ti
Com pany.
F i r s t p r e f e r r e d s h a r e s . ...................................................................................................
S e c o n d p r e f e r r e d s h a r e s ............................................................................... - ..............
O r d i n a r y s h a r e s ........................ - .............. - .................................. ..................................
* ® £ - J > 0 0 ,0 0 0
1 5 0 ,0 0 0 ,0 0 0
S h a r e c a p i t a l ---------------------------------------------------------------------------------------------------- 8 4 6 0 , 0 0 0 , 0 0 0
( 2 ) H o l d i n g s o f th e G o v e r n m e n t .
F i r s t p r e f e r r e d s h a r e s r e c e i v e d In e x c h a n g e f o r fi r s t p r e f e r r e d _
_
„„„
s t o c k o f t h e N a t i o n a l H R -------- --------------• - -------- j - - ; - — - - - - - - - $ - 0 , 0 0 0 , 0 0 0
S e c o n d p r e f e r r e d s h a r e s r e c e i v e d In e x c h a n g e f o r 2 d p r e f . s t o c k
o f th e N a tio n a l R R . a t th e r a te o f 110 o f th e fo r m e r fo r 100 o f
t h e l a t t e r _____________________________________________________________________
2 0 ,5 5 6 ,5 8 0
S e c o n d p r e f e r r e d s h a r e s r e c e i v e d In e x c h a n g e f o r M e x i c a n C e n ______ _____
t r a l R y . s t o c k -------------------------------------------- ------------ ----------- 4 0 ,0 0 0 ,0 0 0
O r d i n a r y s h a r e s r e c e i v e d In e x c h a n g e f o r p r e f e r r e d s t o c k o f t h e
N a t i o n a l R R -------------------------------- ------------------------- - - - - - . - - - - p , - -----------2 1 ,0 8 8 ,0 0 0
O r d in a r y s h a re s r e c e iv e d a s p a r t c o m p e n s a t io n o f th e G o v e r n
m e n t ’ s g u a r a n t y --------------------------------------------------------------------------------------------- 1 2 7 , 4 6 0 , 0 0 0
T o ta l sh ares ow n ed b y
G o v e r n m e n t ---------------
$ 2 3 0 ,0 0 4 ,5 8 0
T h i s Is a n a b s o l u t e m a j o r i t y o f t h e c a p i t a l s t o c k a n d m a k e s t h e G o v e r n
m e n t n e c e s s a r i l y t h e d o m i n a n t f a c t o r In t h e c o r p o r a t i o n .
E a r n in g s.— M in is t e r L lm a n t o u r s a y s : “ T h e s e c u r itie s r e p r e s e n tin g th e
c a p i t a l o f t h e N a t i o n a l a n d C e n t r a l r a i l w a y s h a v e a l m o s t In t h e i r e n t i r e t y
b e e n d e p o s it e d w it h th e n e w c o m p a n y , a n d th e p e c u n ia r y r e s o u r c e s n e c e s
s a r y t o e n a b l e t h e l a t t e r t o I n it i a t e Its p r o g r a m o f I m p r o v e m e n t s a n d e x
te n s io n s a re p r a c t ic a lly a ssu r e d .
W h a t r e m a in s t o b e d o n e In o r d e r t o
c o m p l e t e t h e w o r k Is t h e m a t t e r o f a s h o r t t i m e , a n d , t h o u g h l a b o r i o u s ,
Is n o t c a p a b l e o f j e o p a r d i z i n g t h e r e s u l t o f t h e c o m b i n a t i o n .
F o r th e re s t,
t h e a d m i n i s t r a t i o n o f t h e s y s t e m o f t h e C e n t r a l Is b e i n g b r o u g h t I n t o l i n e
w it h t h a t o t th e o t h e r m e r g e d p r o p e r t ie s , a n d s u b je c t , a s fa r a s p o s s ib le ,
t o a s in g le d ir e c t in g p o w e r .”
T h e M in is t e r fir s t c o n s id e r s t h e s i t u a t i o n d u r in g w h a t h e d e s ig n a t e s
a s t h e p e r io d o f t r a n s it io n , w h ile th e d e t a ils o t th e t r a n s fe r a r e b e in g w o r k e d
o u t a n d t h e n e w o r g a n i z a t i o n Is b e i n g e l a b o r a t e d .
T h is p e r io d m a y b e e x
p e c t e d r o u g h l y t o c o i n c i d e w it h t h e fis c a l y e a r 1 0 0 8 -0 9 .
T h e M in is te r fin d s t h a t th e C e n t r a l’s fix e d c h a r g e s a m o u n t t o $ 9 ,8 3 6 ,2 4 9
In M e x ic a n c u r r e n c y , a n d , a s s u m in g t h a t t h e n e t e a r n in g s o f t h e C e n t r a l’ s
s y s t e m w i l l b e t h e s a m e f o r 1 9 0 8 - 0 . ) a s t o r 1 9 0 7 - 0 3 , v i z . , $ 1 0 , 8 0 0 , 0 0 0 In
M e x i c a n c u r r e n c y , I t Is t o b e a n t i c i p a t e d t h a t t h e C e n t r a l w i l l s h o w a s u r p l u s
o f n e t e a r n in g s o v e r fix e d c h a r g e s o t a t le a s t $ 9 6 3 ,7 5 1 .
T h e N a t i o n a l R a i l r o a d ’ s f i x e d c h a r g e s f i g u r e o u t a t $ 5 , 4 0 6 , 4 3 7 In M e x i
c a n 'c u r r e n c y , a n d t h e e a r n i n g s f r o m t r a f f i c a n d o t h e r s o u r c e s a r e e x p e c t e d
t o b e a t l e a s t t h e s a m e a s In 1 9 0 7 - 0 8 , v i z . , $ 6 , 2 9 1 , 9 2 0 , s o t h a t t h e a n t i c i
p a t e d s u r p l u s Is $ 8 8 5 , 4 8 3 .
,
,
,
T h e M in is te r s a y s : “ D u r in g th e s h o r t t im e t h a t w ill e la p s e b e fo r e t h e
N a t io n a l R a ilw a y s a b s o r b c o m p le t e l y t h e o t h e r t w o c o m p a n ie s w h ic h a t
p r e s e n t h a v e c h a r g e o f t h e o p e r a t i o n o f t h e lin e s t h e I n s u f f i c i e n c y o f t h e
I n c o m e o f t h e N a t i o n a l R a i l w a y s t o m e e t l i a b i l i t i e s c o n t r a c t e d In p a r t t o
p a y d e b t s a n d d e f r a y o t h e r e x p e n s e s o n a c c o u n t s w h ic h c a n n o t a s y e t
f i g u r e In t h e i r a s s e t s w i l l b e m o r e t h a n c o m p e n s a t e d b y t h e s u r p l u s e a r n i n g s
o f th e N a tio n a l a n d C e n tr a l r a ilw a y s .
T h e fo llo w in g ta b le m a k e s th e m a tS
t e r cle a r :
Annual surplus ot N ational.......................................... .....................
$885,483
A n n u a l s u r p l u s o f C e n t r a l -----------------------------------------------------------------------------------
9 6 3 ,7 5 1
T o t a l ................................. ............................ ....................- ..................................... .................$ 1 , 8 4 9 , 2 3 4
P r o v i s i o n a l d e f i c i t o f N a t i o n a l R a i l w a y s ----------------------------------------------------8 4 5 ,5 9 6
S u r p lu s o f n e t e a r n in g s o v e r fix e d c h a r g e s o f t h e e n t ir e s y s t e m
d u r i n g t h e p e r i o d o t t r a n s i t i o n --------------------------------------------------------------------$ 1 , 0 0 3 , 6 3 8
“ B u t t h i s s i t u a t i o n , w h i c h , t h o u g h f a v o r a b l e . Is t h e l e a s t f a v o r a b l e t h a t
w ill h a v e t o b e d e a lt w it h , a s t h e p e r io d o t t r a n s it io n w ill s o o n g iv e p la c e
t o a n o t h e r s i t u a t i o n w h ic h w ill b e In e v e r y w a y s a t i s f a c t o r y , w h e n , t h r o u g h
t h e le g a l a n d a c t u a l c o n s o li d a t io n o t t h e r ig h t s a n d p r o p e r t ie s o f t h e t w o
c o m p a n i e s , t h e fin a n c ia l p o s it i o n o f t h e n e w c o m p a n y w ill b e s o s t r o n g
t h a t t h e n o r m a l m a r g in o f p r o fit s w ill s t ill m o r e a m p ly s a fe g u a r d t h e
n a t i o n a g a i n s t a n y o u t l a y b y r e a s o n o t t h e g u a r a n t y g i v e n In b e h a l f o f t h e
gen era l m o rtg a g e b o n d s.
“ M o r e o v e r , In t h e f i n a n c i a l c o m b i n a t i o n a l l p o s s i b l e p r e c a u t i o n s w e r e
t a k e n t o th e e n d t h a t th e g u a r a n t y o f th e n a t io n m a y b e a lw a y s n o m in a l,
o r , r a th e r , t o th e e n d t h a t th e s e r v ic e o f In te re s t a n d s in k in g fu n d o n
a ll th e fu n d e d d e b t s o f t h e n e w c o m p a n y m a y b e a m p ly m e t o u t o f t h e n e t
e a r n in g s a n d o t h e r r e v e n u e o f t h e lin e s .
S u ch w a s th e s c r u p u lo u s c a r e
t a k e n in t h e n e g o t i a t i o n s In t h i s r e s p e c t t h a t It w a s e v e n s t i p u l a t e d t h a t t h e
F e d e r a l E x c h e q u e r w a s t o b e r e le a s e d f r o m a ll lia b ilit y u n d e r it s g u a r a n t y
u n til a ft e r J u n e 3 0 1 9 0 9 , w h e n a s s u r e d ly th e N a tio n a l R a ilw a y s ’ p e r io d o f
t r a n s it io n w ill h a v e c o m e t o a n e n d .
L a te r, w h e n , fo r Im p ro v e m e n ts o r
e x t e n s i o n s . I t Is p r o p o s e d t o I s s u e n e w b o n d s , t h e G o v e r n m e n t w i l l a l w a y s
b e a b le t o g r a d u a t e t h e I s s u e s , w it h in d u e lim it s o f t im e a n d a m o u n t , o n a
s c a le c o m m e n s u r a t e w it h th e e a r n in g s re a liz e d b y th e c o m p a n y a n d th e
p r o b a b le r e v e n u e fr o m th e p r o p o s e d a d d it io n s o r a c q u is it io n s .”
C om
p a r e V . 8 6 , p . 9 1 8 , 9 8 2 , 1 5 9 4 .— V 8 7 , p . 1 1 6 0 , 8 7 3 .
North Carolina Electric Co.— Receivers’ S a le . —See Carolina
Valley RR. above.
Northwestern Elevated RR., Chicago.—P la n . —The “Chi
cago Inter Ocean” of Dec. 8 said:
J o h n J . M i t c h e l l Is a u t h o r i t y f o r t h e s t a t e m e n t t h a t t h e f i n a n c i a l r e o r *
g a n l z a t lo n o f t h e N o r t h w e s t e r n E le v a t e d R R . C o . w ill b e t a k e n u p s o o n
a f t e r J a n . 1. 'T h e p l a n , w h ie n w ill i n c l u d e r e f u n d i n g t h e c o m p a n y ’s p r e s e n t
b o n d s, ha*, b e e n p re p a re d .
S to c k h o ld e r s a re e x p e c te d t o b e re im b u r s e d
f o r s u r p l u s e x p e n d e d In d e v e l o p i n g t h e p r o p e r t y d u r i n g t h e p a s t f e w y e a r s .
V . 87, p. 810.
Pennsylvania RR.—•
Assistant Treasurer. —James F. Fahnstock Jr. has been appointed Assistant Treasurer and
assigned to duty in the New York office, beginning Jan. 1.
Strike Averted Under E rdm a n A ct. —An agreement was
reached Dec. 4 between Grand Chief Warren S. Stone and
the general committee of adjustment of the Brotherhood of
Locomotive Engineers and General Manager George L. Peck,
of the Pennsylvania Lines West, in the controversy which
arose between the engineers and the railway.
T h e c o n t r o v e r s y w a s p r e s e n t e d t o C h a ir m a n K n a p p o f th e I n t e r -S t a t e
C o m m e r c e C o m m is s io n a n d C o m m is s io n e r N e ill o f t h e B u r e a u o f L a b o r ,
a c t in g a s a m e d ia t io n b o a r d u n d e r th e E r d m a n
A ct.
The
R a ilr o a d
G a z e t t e ” o f N e w Y o r k c o n t a in e d th is w e e k t h e fo r m a l s t a t e m e n t Issu ed b y
M e s s rs . K n a p p a n d N e ill c o n c e r n in g th e a g r e e m e n t .— V . 8 7 , p . 1 4 2 1 , 1 2 3 8 .
Philadelphia Coatesville & Lancaster Passenger R y.—
Sale Dec. 30.—The company’s property is advertised to be
sold under the terms of the mortgage (without foreclosure
proceedings) at Lancaster on Dec. 30, the interest due on
the $600,000 mortgage for which the Integrity Title Insur
ance, Trust & Sale Deposit Co. of Philadelphia is trustee,
being in default. The road is partly built in Chester County,
and considerable grading has been done in Lancaster County.
At auction in Philadelphia on Dec. 9 $32,000 5s, due 1934,
were sold at 10%.—V. 79, p. 734.
Philadelphia Rapid Transit Co.—S a le of B o n d s. —Drexel
&Co., Philadelphia,have sold the $2,500,000 new collateral
trust 5s which they offered at 101 and interest and have
taken an option on the remaining $2,500,000 until May 1
1909.
T h e b o n d s w ill b e d a t e d D e c . 1 5 1 9 0 8 a n d m a t u r e F e b . 1 1 9 5 7 , o r fiv e
m o n t h s b e fo r e th e a g r e e m e n t w it h t h e c i t y e x p ir e s .
D e n o m in a t io n $ 1 ,0 0 0 .
T r u s t e e , th e P e n n s y lv a n ia C o . fo r In s u r a n c e s o n L iv e s & G r a n tin g A n n u i
t ie s , P h ila d e lp h ia .
E n t i r e I s s u e Is s u b j e c t t o c a l l a t 1 0 5 .
A s in k in g fu n d
p r o v i s i o n w il l r e t i r e a ll t h e b o n d s b y F e b . 1 1 9 5 7 b y c a l l a t 1 0 5 , If n o t
p u r c h a s e a b l e In t h e o p e n m a r k e t a t a l e s s p r i c e .
S in k in g f u n d b e g in s o p e r a tio n s F e b . 1 1 9 1 2 .
In te r e s t p a y a b le F e b . 1 a n d A u g u s t 1.
C om pare
V . 8 7 , p . 7 4 0 , 8 1 3 , 1 1 6 0 .— V . 8 7 , p . 1 3 0 1 .
Philippine Railway.— L iste d . —The New York Stock
Exchange has listed $2,805,000 additional first mortgage
4% 30-year sinking fund bonds, making the total amount
listed to date $4,305,000., and has authorized to be listed
irom time to time, but prior to July 1 1909, $1,695,000
additional bonds on notice of sale and distribution, making
the total amount authorized to be listed $6,000,000.—
V. 87, p. 1358.
P u e b l o & S u b u r b a n T r a c t i o n & L i g h t i n g C o . — E a rn in g s .—
McCague & Co., Cincinnati, who are offering $120,000 5%
bonds due Oct. 1 1922 at a price to net the investor 5J^% ,
report for the year ending Aug. 3 1 1908:
Y e a r s e n d in g —
G ross.
A u g . 31
1 9 0 8 ..............................$ 6 0 6 , 0 6 6
D e c . 31
1 9 0 7 ------------------------- 6 0 1 , 7 9 5
D e c . 31
1 9 0 6 ------------------------- 5 5 3 , 6 0 6
— V . 76, p. 866.
A ret.
$ 3 2 3 ,9 7 6
2 7 1 ,1 9 0
2 4 9 ,2 3 2
B on d In t.
$ 1 5 8 ,3 5 0
1 5 9 ,2 5 4
1 5 5 ,1 1 3
B a l . ,s u r p .
$ 1 6 5 ,6261 1 1 ,9 3 6
9 4 ,1 1 9
V i r g i n i a P a s s e n g e r & P o w e r C o — Foreclosure D elayed by
A p p ea ls. —Judge Waddill in the United States Circuit Court
at Richmond, on Dec. 7, entered orders granting the Metro
politan Trust Co. of New York, trustee of the Virginia
Passenger & Power debenture bonds, the Bowling Green
Trust Co. of New York, trustee under the consolidated
mortgage, the Central Trust Co. of New York, trustee of
the mortgage of the Richmond Passenger & Power Co. and
certain other creditors, permission to appeal from the
judgment of foreclosure sale ordered by him on Oct. 24
last. Compare V. 87, p. 1 1 6 1 , 741, 679, 347.
T h e a p p e a l w ill b e t a k e n t o t h e U n it e d S t a t e s C ir c u it C o u r t o f A p p e a ls
f o r t h e F o u r t h C i r c u i t , a n d w i l l , I t Is e x p e c t e d , b e h e a r d I n F e b r u r a r y .
T h e p a r t o f th e d e c r e e o b je c t e d t o b y th e B o w lin g G re e n T r u s t C o ., t h e
C e n t r a l T r u s t C o . , a n d o t h e r s , Is t h a t a f t e r t h e p u r c h a s e m o n e y h a s b e e n
d e p o s ite d -In C o u r t, th e d e b e n tu r e b o n d h o ld e r s m a y a t t a c k th e fu n d .
T h is
w o u l d , I t Is a l l e g e d , g i v e t h e M e t r o p o l i t a n T r u s t C o . t h e r i g h t t o e s t a b l i s h
a n y c la im i t m a y h a v e f o r t h e d i v e r s io n o f e a r n in g s , b u s in e s s a n d I n c o m e
o f th e R i c h m o n d P a s s e n g e r & P o w e r C o ., b y th e V ir g in ia P a s s e n g e r &
P o w e r C o ., o r th e r e c e iv e r s , a n d e n fo r c e a g a in s t th e p r o p e r t y p u r c h a s e d
a n y < c l a lm , le g a l o r e q u i t a b l e , t o w h i c h It m a y b e e n t i t l e d .
T h e M e t r o p o l i t a n T r u s t C o . , In Its p e t i t i o n , p r e s e n t s 4 9 a s s i g n m e n t s o f
e r r o r , a n d o b j e c t s t o t h e d e c r e e In I t s e n t l r e t y o n t h e g r o u n d t h a t t h e d e c r e e
s h o u ld n o t h a v e b e e n Issu ed u n til e v e r y q u e s tio n o f th e le g a lit y o f t h e
d e b e n tu r e m o r tg a g e s h a d b e e n s e t t le d .— V . 8 7 , p . 1 1 6 1 , 7 4 1 .
W a s h in g to n
W a ter P o w e r
C o.
( S p o i a n e ) . — B o nds.—
Stock. —The stockholders at a meeting held in Spokane on
Dec. 1 1903 authorized an issue of $15,000,000 of 5%
30-year gold bonds, to be dated July 1 1909. A part of
this issue is to be used for refunding purposes, and the
balance will be available for improvements and extensions
of the property. (See circular V. 87, p. 1358.)
The company is now arranging with Moffat & White of
New York, and Lee, Higginson & Co. of Boston,for the sale
next year of $4,000,000 of the new bonds for refunding and
other purposes.
Subscription has been made for practically the whole of
the $1,000,000 of stock offered to stockholders recently, the
right to subscribe expiring on Dec. 15 1908.—V. 79, p. 1358.
W e s t E n d S t r e e t R y . , B o s t o n . — To Investigate and A dvise
Regarding Merger P la n .—George S. Baldwin, Charles M.
Cabot, William H. Slocum and F. S. Mead (Chairman) have
been requested by some of the larger stockholders to act as a
committee to investigate and advise upon the proposed
sale of the property to the Boston Elevated Railway Co.,
and the price which should be obtained therefor. The com
mittee’s address is Room 53, No. 55 Kilby St., Boston.—V.
87, p. 116 1.
W i n d s o r E s s e x & L a k e S h o r e R a p i d R y . — Preferred Stock .
—The shareholders will vote Jan. 12 on “ creating 2,500
shares of capital stock of the said company’s preference stock.”
The authorized share capital is $2,500,000, of which there
was recently outstanding $500,000 common and $250,000
preferred. Compare V. 86, p. 482, 670.
W i s c o n s i n C e n t r a l R y . —F irs t D ividend D eclared. —-The di
rectors on Monday declared an initial dividend of 4% for the
year on its preferred stock, payable in quarterly install
ments of 1% each, the first Dec. 23 to holders ot record
Dec. 15 . Owing to the pending negotiations with the
Canadian Pacific and Canadian Northern,the dividend was
delayed,so that the second quarterly distribution will be
in February, and thereafter at regular quarterly intervals.
The alliance with the Canadian roads will take the form
of a traffic agreement, the details of which have not yet
been settled. It was thought at one time a lease would
be effected.
The following statement was issued:
D u r in g t h e n in e y e a r s o t o p e r a t io n s in c e r e o r g a n iz a t io n , t h e c o m p a n y
h a s e a r n e d a s u r p lu s a p p lic a b le t o d iv id e n d s o f $ 5 ,8 5 3 ,5 3 9 , a n d th r e e o f
s a id y e a r s , n a m e ly , 1 9 0 1 , 1 0 0 4 a n d 1 9 0 8 , w e r e y e a r s o f s e r io u s b u s in e s s
d e p r e s s io n w it h u s.
T h is su r p lu s h a s b e e n e a rn e d a ft e r e x p e n d it u r e s f o r
m a in t e n a n c e o t w a y a n d e q u ip m e n t e q u a l t o o r e x c e e d in g th e o u t la y o f
o th e r r o a d s s e r v in g th e sa m e te r r it o r y .
T h e s u r p l u s , e x c e p t c a s h In h a n d ,
h a s b e e n r e i n v e s t e d In t h e p r o p e r t y b y a p p r o p r i a t i o n s f r o m y e a r t o y e a r
b y th e b o a r d o f d ir e c to r s .
E a r n i n g s t o r th e Q u a r te r E n d e d S e p t .
30 1908.
S u r p l u s e a r n e d a p p l i c a b l e t o d i v i d e n d s . - --------------------------------------------------D i v i d e n d o n p r e f . s t o c k f o r t h e s a m e p e r i o d ......... ............................... ..............
liz .o /i
T h e c o m p a n y ’ s c a s h o n h a n d N o v . 1 1 9 0 8 w a s $ 1 , 7 8 3 , 5 7 4 , w it h ? n o f l o a t l n T h e b c o m p a n y a g r e e d a t t h e t im e It s o l d Its S u p e r i o r & D u lu t h d i v i s i o n
a n d t e r m i n a l f i r s t m o r t g a g e b o n d s t o I n v e s t $ 1 , 0 0 0 , 0 0 0 o f I ts s u r p l u s in
th e c o n s t r u c t io n o f th is d iv is io n .
I t h a s n o t o n l y c o m p lie d w it h th e a g r e e
m e n t , b u t In a d d i t i o n t h e r e t o h a s a t t h i s d a t e a d v a n c e d $ 3 0 5 , 0 0 0 f o r w h i c h
i t Is e n t i t l e d t o r e i m b u r s e m e n t t h r o u g h r e s e r v o b o n d s . — -V . 8 7 , p . 1 4 8 0 .
IN D U S T R IA L ,
A m e r ic a n F e lt C o
GAS
AND
M IS C E L L A N E O U S .
— Control Passes to Boston Interests.—
This company on Nov. 1 removed its executive office from
New York to 244 Summer St., Boston. The headquarters
of the selling department and the piano and organ sup
plies remain in New York, as heretofore, but they enjoy in
creased facilities in the new eleven-story bmldmg recently
erected by the company at 114 and 110 Last 13th St., ana
now used in addition to the old four-story building next
door, Nos. 110 and 112. The followingis officially confirmed.
Tti<> c o n t r o l o f t h e c o m p a n y ,
h e r e t o f o r e h e l d In N e w
bonds which fell due Dec. 1 1908. The total issue is $1,500,
000, dated Jan . 2 1892, due Jan . 2 19 12 , but now subject
to call in any amounts at par ( $ 1,000) and interest. Coupon
interest (Jan. 2 and July 2) payable at the farmers Loan
& Trust Company, trustee, New \ro k City. Principal
and interest guaranteed by the American Water Works
& Guarantee Co. of Pittsburgh, Pa. A circular says:
F i n a n c i a l S ta t e m e n t o f C i t y W a te r C o m p a n y o f C h a tta n o o g a .
C a p i t a l s t o c k , $ 1 , 5 0 0 , 0 0 0 ; 1 s t M. b o n d s , $ 1 , 5 0 0 , 0 0 0 ; t o t a l ............ . $ 3 , 0 0 0 , 0 0 0
A n n u a l r e v e n u e f r o m a l l s o u r c e s ----------------------------. - V A V V i V C ; ^ ;
i
O p e r a t i n g e x p e n s e s ,t a x e s a n d l n t c r e s t o n $ 1 ,5 0 0 ,0 0 0 1 s t M . b o n d s
1 8 0 ,1 0 4
Y o r k , h a s r e c e n t ly
S u r p l u s ------------------------------------------------------------------------------------------ -----------------------1908
1906
Y o r k -^ ie o r g e F
W ille tt , B o s to n ; E d w . H . R a t h b u n , W o o n s o c k e t , R . I.
M r . S w e a t t , w h o h a s b e e n a c t in g P r e s id e n t , w ill s h o i t ly b e e le c t e d t o t i
P r T h e enc o m p a n v w a s I n c o r p o r a t e d In N e w J e r s e y F e b . 7 1 8 9 9 w i t h a n
a u t h o r i z e d c a p i t a l s t o c k o f $ 5 , 0 0 0 ,0 0 0 , In s h a r e s o f $ 1 0 0 e a c h . t o m a n u f a c
t u r e fe lt s
w o o le n g o o d s a n d p ia n o a n d o r g a n s u p p lie s .
It a c q u ir e d th e
p l a n t s a n d b u s i n g s o f t h e C i t y M i ll s C o . , C i t y M i l l s , M a s s .; F r a n k l Ini M i l l s .
F r a n k lin
M a s s .; A m e r i c a n F e lt M f g . C o . , U o l g e y i l l e , N . Y . , I l a u t h o r n e
M i l l , G l e ’n v l l l e , C o n n . : E s s e x F e l t C o . , P l c t o n , h , . J .
T h e com p a n y has
o u t s t a n d in g $ 1 ,0 2 7 ,8 0 0 0 % c u m u la t iv e p r e fe r r e d s t o c k , $ 1 ,0 2 7 ,8 0 0 c o m
m o n s t o c k f p a y in g 5 % d iv id e n d s , a n d $ 3 8 3 ,0 0 0 5 % fir s t m o r t g a g e b o n d s
d u e in 1 9 2 9 ( V . 0 8 , p . 4 7 1 ) . — 'V . 8 7 , p . 3 4 5 .
.
A m e r i c a n Gas C o . — Listed . —The Philadelphia Stock Kxchange has listed $1,500,009 collateral trust convertible 0%
bonds due Oct. 1 1914. (Compare V. 85, p. 1006.)—V. 8/,
p. 679.
A m e r i c a n P i a n o G o . —T hird D ividen d on Preferred Stock. The company has declared a third quarterly dividend of
1 0>% on its preferred stock, of which about $4,000,000 is
outstanding at present, payable Jan. 1 to stockholders or
record Dec. 10.—V. 87, p. 417, 227.
A m e r ic a n
1535
THE CHRONICLE
Dbg. 12 1908. j
T e le p h o n e
&
T e le g r a p h
Conversion P ric e .— The
Co.— New Stock
company has recently issued 3>o,991 745 additional stock increasing the amount m the hands
of the public to $158,476,600. This increase reduces the
conversion rate for the $150,000,000 convertible 4s (originally
140 and reduced in 1907 to 134.3478 by sale ot $22,000 000
stock to shareholders) to a newrate— 133.7374158.— v.»/
p. 1481. 1359.
_
A m e r ic a n W a t e r W o r k s
& G u a r a n te e G o ., P it t s b u r g h .
S o u r c e o f R e v e n u e .— C i t y h y d r a n t s , 2 8 4 ; s e r v i c e s t o c o n s u m e r s , 9 , 5 8 9 ;
m ile s o f p i p e , 1 4 1 .3 4 ; d a l ly p u m p in g c a p a c i t y ( b r i c k p u m p in g s t a t i o n ) ,
21
7 5 0 , 0 0 0 g a l l o n s ; d a l l y a l t e r i n g c a p a c i t y ( 4 4 A l t e r s In o p e r a t i o n ) , 1 2 ,
0 0 0 0 0 0 g a llo n s .
W a t e r s u p p l y , T e n n e s s e e R i v e r , A lte re d .
B e s id e s t h e
c l t v o f C h a t t a n o o g a , w h i c h h a d a c c o r d i n g t o a c e n s u s t a k e n In 1 9 0 6 a p o p u
l a t i o n o f 5 0 , 0 0 0 , t h e w a t e r c o m p a n y Is s u p p l y i n g 2 2 a d j o i n i n g s u b u r b s , a l l
w it h in a r a d iu s o f 4 m ile s f r o m t h e c e n t r e o f C h a t t a n o o g a .
T h e $1 5 0 0 ,0 0 0 o f b o n d s o u t s t a n d i n g w e r e Is s u e d o n s w o r n s t a t e m e n t s
s h o w in g c o s t o f e x te n s io n s a n d I m p r o v e m e n t s a lr e a d y m a d e a n d p a id fo r ,
a n d t h a t t h e I n c o m e In e x c e s s o f a l l o p e r a t i n g e x p e n s e s , t a x e s a n d I n t e r e s t
w a s e a u a l a t le a s t , a t a ll t im e s t o 6 % o n t h e t o t a l o u t s t a n d i n g b o n d e d d e b t .
T h l American W a t e r W o r k s & G u a r a n t e e C o . ( V . 8 7 . p .
1090) has ow n ed
a n d o p e r a t e d t h e c o m p a n y f o r 2 1 y e a r s , a n d h a s a l w a y s k e p t t h e p l a n t In
th e h ig h e s t s t a t e o f e ffic ie n c y .
Colts Arms Co.— Directorate Increased. —L. R. Cheney and
C. L. F . Robinson, both of Hartford, Conn., have been
elected directors, thus increasing the board from 5 to 7
members.—V. 84, p. 1554.
Commonwealth Water Co. of New York.— Bonds O ffered —
This company having consolidated three producing public
service water plants, all equipped with “ earning powei on a
firm basis,” offers $100,000 5% 25-year first mortgage gold
bonds at 93, with a stock bonus of 25% . Bonds are callable
after five years at 105, with interest. Information and
application blanks can be secured from the bond department
of the Guardian Trust Co., New York.
Consolidated Gas Co. of New York.— E arn in gs, & c. —The
report of the Public Service Commission, First District,
issued this week, shows the earnings of the various companies
included in the system for the year ended June 30 1907 (not
1908) to be as follows:
Offering of Guaranteed B o n ds. —See City Water Co., Chatta
R E S U L T S F O R Y E A R E N D IN G J U N E 30 1907.
G ro ss.
nooga, Term., below.— V. 87, p. 1090, 417.
A s s e t s R e a l i s a t i o n C o . — D ivid en d . — -The directors have
declared a dividend on the preferred stock “at the rate of
7% per annum,” payable Jan. 2 1909 to stockholders ot
record Dec. 26 1908.
$ 3 7 ,1 8 0
C o m p a r a t iv e G r o s s E a r n i n g s o f th e C o m p a n y .
. $ 2 1 7 , 2 8 5 1 1 9 0 4 .......................- ............................... 5 1 5 5 . 1 6 3
1 8 7 , 1 5 9 I 1 9 0 2 ........................................................ 1 4 - , 0 ^ »
N e t.
Other in c.
C o n s o l. o L w . . 1 2 ,4 0 3 ,0 1 8 1 .6 2 2 .5 5 1
v pw Am G asC o 3 2 6 1 8 9 6
5 5 2 ,7 9 6
N V M u tG a sC o 1 645 533
1 92 3 1 7
S t a g ' d f o k S C o S : I . t I i .’ I I i
1 8 6 .4 3 5
C e n t . U n . G a s C o . 1 ,5 6 4 ,7 5 9
2 4 0 ,1 1 1
N or. U n. G asC o.
4 3 6 ,2 5 2
5 0 .4 6 9
A s t . L t . I I . & P . C o . 1 .0 2 6 .7 5 1
3 6 3 ,0 1 7
2 .4 1 0 ,6 4 0
1 1 7 ,6 6 5
3 9 ,4 7 2
48 999
2 .9 8 3
6 ,4 7 8
759
•Interest.
9 0 .2 5 4
1 ,0 0 6 ,7 4 2
a32
6 4 ,2 5 0
1 8 5 ,1 1 7
7 6 ,3 0 2
* 2 7 6 ,6 2 o
D iv id ’s .
B a la n ce.
3 .2 0 0 .0 0 0 d e f . 7 2 * 0 6 3
d e l . 3 3 0 .2 8 1
2 0 6 .1 9 6 s u r . 2 5 .5 6 1
2 5 7 .7 4 2 d e f . SB 5 5 8
s u r . 0 3 .9 7 8
d e l . 1 9 .3 5 5
s u r . 8 7 ,1 5 1
Tot. gas earns.22.120.090 3.213.096 2.632,996 *2.520.322 3,663,938 del.337,567
o f t h e e n t i r e $ 1 , 5 0 0 , 0 0 0 c o m m o n s t o c k o f t h e o l d 'c ?,r p J , i
( 4 ,V
5 1 8 W a ln u t S t . P h ila d e lp h ia .
S e c f u l l p a r t i c u l a r s In V . 8 7 , p .
•
Boston
Batopilas Mining Co. On —
---- U
- nlisted.
....... —The Boston
Stock Exchange on Dec. 9 admitted to quotation on the
unlisted sheet 446,496 shares of the company s capital stock.
—V. 86, p. 110 2 .
Brooklyn Union Gas Co. System .— E a rn in g s .—'The report
of the Public Service Commission, First District, issued this
week, shows the earnings of the system for the year ending
June 30 1907 (not 1908) to be as follows:
G ro s s e a rn in g s
$ 7 , 4 4 5 , 1 2 3 I I n t e r e s t o n b o n d s . . - . - ---------- * 9 ~ ? ,'2 2 n
N e te a rn ln g s
................ 1 2 2 6 1 1 8 I n t e r e s t o n l l o a t l n g d e b t —
7 3 .6 6 0
o t h S T S S m i:::::::::::
m a m I B a l a n c e , s u r p l u s . . ........................2 9 0 , 0 0 5
— V . 87, p. 228.
Champion Coated Paper C o . - N e w Stock .—The common
stock has been increased from $1,040,000 to $1,500,000 by
sale of new stock to present shareholders ‘ at a considerable
premium.” The subscription closed Nov. 25. V. 8/, p.
1359.
Citizens’ Ga3 & Electric Co., Waterloo and Cedar Falls,
Iow a. — Bonds O ffered — E a rn in g s .—Charles S. Kidder & Co.,
Chicago, and Breed & Harrison, Chicago, are offering at
q7 \/. and interest the unsold portion of a block of $250,000
5% sinking fund gold bonds dated Jan. 1 1906. Phese
bonds arc part of an authorized issue of $1,200,000, fully
described in V. 83, p. 274; $923,500 are outstanding
$120,000 are reserved to retire an equal amount ot Waterloo
Gas & Electric Co. 5s and $156,500 are reserved lor additions,
extensions, &c., under careful restrictions. A ciiculai says.
T h e c o m p a n y 's p l a n t a t W a t e r l o o n o w c o n t a in s (1 ) t w o £ 5 0 k . w . C u r t is
tu r b in e v e n e r a to r s , o n e 2 0 0 k . w . a n d o n e 133 k . w . G e n e ra l E le c t r ic
v e n e r a t o r s g iv in g a c a p a c i t y o f o v e r 3 ,4 0 0 e le c t r ic a l h o r s e p o w e r
(2 ) G a s
r e t o r t h o u s e * c a p a b l e o f s e n d in g o u t 0 5 0 ,0 0 0 c u b i c fe e t o f g a s a d a y .
G as
h o l d e r c a p a c i t y c o n s is t s o f o n e o f 5 0 0 ,0 0 0 c u . f t . , o n e o f 1 2 0 .0 0 0 c u . f t . a n d
on e o f 80 000
ca p a city .
T h e r e a r e 7 9 m ile s o f m a in s a n d 2 8 8 m ile s
2 ? w ir e ?
A l l t h i b u i l d u p ! a r e o f b r i c k a n d s t e e l , a n d t h e e n t i r e p r o p e r t y Is
m o d e r n , h a v in g a r e p la c e m e n t v a lu e fa r e x c e e d in g th e b o n d e d d e b t .
E a r n i n g s f o r C a le n d a r
Y ea rs.
1907.
.
..............................$ 2 2 8 , 1 2 7
G r o s s e a r n i n g s .............
O p e r a t i n g e x p e n s e s ----------------------------------------------------- 1 2 1 , 6 2 5
1000.
$ 1 7 3 ,9 9 3
___ ) B L 9 7 7
1905.
$ 1 2 4 ,1 4 0
5 9 ,4 o 0
N e t e a r n i n g s . ................................................................ . $ 1 0 6 , 5 0 2
$ 8 1 ,0 1 6
5 6 4 .6 0 6
N e t e a r n in g s , y e a r e n d in g S e p t . 3 0 1 9 0 8 , $ 1 2 1 ,3 5 4 2 2 .— V . 8 4 , p . 3 4 1
N . ^ . E d i s o n C o . 1 3 ,5 7 7 ,7 4 4 5 ,1 5 1 .8 1 1
U n .E l . L t . & P . C o . 1 ,6 8 2 ,1 5 2
2 5 3 .7 7 0
9 5 0 ,7 9 7 5 2 ,3 1 9 ,7 9 3 1 ,3 5 1 , 5 3 0 s u r 2 4 3 1 ,2 8 5
6 ,8 5 6
3 6 1 ,0 3 d
d e f . 1 0 0 ,4 0 9
T o t e l e c .e a r n s l 5 2 5 9 8 9 6 5 4 0 5 ,5 8 1
9 5 7 ,6 5 3
2 ,6 8 0 ,8 2 8 1 ,3 5 1 ,5 3 0 s i ir .2 3 3 0 , 8 7 6
a T h e s e a r e m is c e lla n e o u s d is b u r s e m e n ts .
b u rsem en ts.
* I n c l u d e s I n te r e s t o n flo a t i n g d e b t , 8 3 3 4 ,2 8 6 , o f w h ic h S 2 (j7 ,* . o O p a i d
b y A s t o r ia L i g h t , H e a t & P o w e r C o .
j oti
...iq n ii c o
D u r in g t h e y e a r t h e r e w a s e x p e n d e d f o r c o n s t r u c t i o n $ 5 ,8 5 4 ,3 1 1 , f w h ic h 5 2 ,
6 ,
6 3 6 b y t h e A s t o r ia L i g h t , H e a t & P o w e r C o .
T h e q u a n tity o f
s °J d . n o t ln c lu d In e t h a t s o l d b v t h e W e s t c h e s t e r L ig h t in g C o ., d i r e c t l y t o c o n s u m e r s In t h e B o r o u g h
o A h e B r o n x w m 2 3 0 T 8 2 4 8 ;7 4 1 c u b i c fe e t , o f w h ic h 2 2 4 8 1 3 6 1 1 0 0 c u b i c f e e t w a s
s o l d t o t h e p u b l ic a n d t h e r e m a in in g 5 6 6 ,8 8 7 ,6 4 1 f o r s t r e e t li g h t in g a n d li g h t in g
m u n i c ip a l b u il d i n g s .— V . 8 7 , p . 1 4 2 2 , 1 1 6 1 .
Instalment
Due Dec. 15 .—The
Davis-Daly Copper Co. ■—
................................
second installment of 50 cents per share on subscriptions to
stock will be due Dec. 15 1908. See V. 87, p. 080, 547.
Edison Electric Illuminating Co., Boston.— N e w Stock —
O vtion. —The stockholders will vote Dec. 18 1908 on in
creasing the capital stock from $12,643,600 to $13,6 16 ,10 0
bv the issuance of 9,725 shares, authorized by the Gas and
Electric Light Commission on Feb. 20 1907.
Holders of each 13 shares of record Dec. 18 will be en
titled to subscribe on or before Jan. 15 for one new share
(par $100) at 2 15 % , paying therefor in installments, $100
on Feb. 1 and $ 115 on May 3 1909.— V. 87, p. 1086, 938.
Greene Cananea Copper Co .— O utput.—This company,
which resumed operations early in Ju ly 1908 and is still
1 * . :x •
o4- AT.hr Violf fLn pnnffPiiv Of its imrep orts:
M o n th ly
O u tp u t—
N o v _____
O c t _______
S e p t _____
C opper,
p ou n d s.
3 ,0 0 0 ,0 0 0
3 ,5 8 4 ,0 0 0
3 ,3 9 6 ,0 0 0
S ilv e r ,
8 0 ,8 2 1
9 5 ,5 0 6
8 9 ,6 0 0
G o ld ,
oz.
540
698
636
C op p er,
M o n th ly
p ou n d s.
O u tp u t—
A u g — _ 3 ,7 2 4 .0 0 0
J u ly . . . . 1 ,2 8 4 ,0 0 0
S il v e r ,
oz.
7 5 ,5 5 4
1 3 ,6 2 7
G o ld ,
OZ.
5 21
109
.1 5 ,5 8 8 ,0 0 0
3 5 5 ,1 0 8
2 ,5 0 4
— V . 8 7 , D. 1 6 9 .
.
Hudson River Electric Power Co.— . V e t o Members for
Bondholders’ Committee.— The committee of which James R.
Hooper is Chairman has been increased by the addition of
Wilson A. Shaw, President of the National Bank of P it t s
burgh, and Charles E . Willock, ir< usurer of the Fidelity
Title & Trust Co.,also of Pittsburgh. The same commitee
is now acting for the bonds o!
T Turiann R i v e r
F le c tr lc P o w e r C o .
|H u d s o n
R iv e r
P ow er
T ra n sm .
Co
S a r a to g a G a s E le c t r ic L ig h t & P .C o
City Investing Co., New York.— Notes C alled. —All the HH uu dd sl oo Sn RR iivveerr WE al et cetrr iPc o Cw oe.r C o .
[M a d is o n C o u n t y G a s & E le c t r ic C o .
E m p ir e S ta te P o w e r C o .
|B a ll s t o n S p a L i g h t & P o w e r C o .
“ 6-months collateral trust 6% notes dated April 15 1908
L ism a n Committee— N otice.— See advertisement on an
have been called for immediate redemption at par and in
terest, on presentation.at the office of the trustee, the 1 1 tie other pao’e •
Guarantee & Trust Co., 176 Broadway, interest ceasing
Lease % Street R y .— Judge Ray lias authorized the re
ceivers to continue in force the arrangement with the Utica
•Ja n . 3 1909.—V. 87, p. 874, 741.
Citv Water Co. of Chattanooga, Tenn.— Bonds Offered — & Mohawk Valley R y. for the supply of power.
S t a t u s __J . S. & W. S. Kuhn, Pittsburgh, &c., are offering s t eTa hme pnoeww e rc opnl tarnatc ta npdr o pv ri de ems i s tehs a lto ctahtee dr aai ltw aUyt i ccao ,m tphaen ya p spha ar lal t ul es a sI en tt hh ee
at par and interest 6% first mortgage gold bonds, being s u b - n a t i o n s .at L i t t l e F a l l s . F r a n k f o r t a n d O r l s k a n y , a n d t h e t r a n s m i s s i o n
part of the $1,000,000 escrow bonds held to refund the 0 y0 l i n e f r o m U t i c a t o C l a r k M i l l s , f o r o n e y e a r f r o m D e c e m b e r 1 1 9 0 8 t o
1536
THE CHRONICLE
D e c e m b e r 1 1 0 0 0 , a t a n a n n u a l r e n ta l o f $ 3 8 ,0 0 0 , w it h th e p r iv ile g e o f
re n e w a l fr o m D e c e m b e r 1 1 0 0 0 .
C om p are V . 8 7, p . 1481, 1240.
Knickerbocker Ice Co., Chicago,— Extension of L o a n s. The “ Chicago Economist” of Dec. 5 said:
T h e p r e fe r r e d d iv id e n d p a y a b le J u ly 1 w a s d e fe r r e d p e n d in g a n a g r e e
m e n t f o r th e e x t e n s io n o f c o lla t e r a l lo a n s fa llin g d u e F e b . 1 1 0 0 0 .
T h is
a g r e e m e n t h a s b e e n p r a c t i c a l l y c l o s e d , a n d t h e d i v i d e n d Is t o b e p a i d In t h e
e a r ly p a r t o f 1 0 0 0 .
T h e T h o m a s e s , w h o w e r e In c o n t r o l o f t h e c o m p a n y
t h r o u g h t h e W e s t e r n I c e h o l d i n g s , s u c c e e d e d I n h a v n g t h e i r n o t e s m a d e lri
p u rch a se o f sto c k s e x te n d e d th ree y ea rs.
A t th e c o m p a n y ’s m e e t in g T u e s d a y . P r e s id e n t J o h n S . F ie ld w a s a u t h o r
iz e d t o c a r r y o u t t h e p r o p o s e d a g r e e m e n t w it h a n E a s t e r n s y n d ic a t e t o
e x t e n d t h e c o m p a n y ’s $ 1 ,5 0 0 ,0 0 0 o f 5 % n o t e s .
T h is In su re s th e p a y m e n t o f
t h e p r e f e r r e d d i v i d e n d In t h e n e a r f u t u r e .
A n o f f i c e r o f t h e c o m p a n y p r o n o u n c e s t h is s t a t e m e n t s u b s t a n t ia ll y
c o r r e c t e x c e p t a s r e g a r d s th e T h o m a s n o t e e x t e n s io n , a b o u t w h ic h h e
p r o fe s s e s I g n o r a n c e .— E d " C h r o n ic le . — V . 8 7 , p . 1 0 0 1 . 1 0 0 .
Mexican Light & Power Co., Ltd.— Op-position to Lease —
Shareholders and bondholders of the company who are op
posed to the proposed lease in favor of the Mexico Tram
ways Co. are requested by advertisement to communicate
with Brown, Montgomery & McMichael, 164 St. James
S t., Montreal. See V. 87, p. 1482, 116 2 .
Michigan Lake Superior Power Co.— D eposits.— Of the
total first mortgage bond issue of $3,500,000, there have
been deposited with the Pitcairn Committee bonds aggre
gating $3,248,000, leaving undeposited bonds amounting to
$252,000. Compare V. 87, p. 1482, 1014.
Minneapolis General Electric Co.— Sale of B o n ds.— The
company recently sold to Blodgct, Merritt & Co., Boston
$1,100,000 first mortgage gold 5s dated Dec. 1 1904, to re
tire 1-year notes ($641,000) maturing Dec. 16 1908 and all
floating debt, this representing the cost of permanent im
provements in the past two years. These bonds, making $5,
624,000 of the issue outstanding, were offered by tluTfirm
at 98j/£ and interest, and have all been placed.
E a rn in g s. —For year ending Oct. 3 1:
Y ea r end.
G ross
O c t. 3 1 —
ea rn s.
1908
.............$ 9 8 3 , 7 5 1
1907
9 0 2 ,2 0 9
— V . 87, p. 42.
O per. e x p .
in c. ta x es.
$ 4 9 7 ,7 5 6
4 8 6 ,3 0 1
N et
e a r n in g s .
$ 4 8 5 ,9 9 5
4 1 5 ,9 0 8
In t e r e s t
c h a rges
$ 3 0 3 ,7 0 3
2 1 5 ,5 4 2
B a la n c e ,
su r p lu s.
$ 1 8 2 ,2 9 2
2 0 0 ,3 6 6
New York & Albany Transportation Co.— R e c e i v e r s h i p . __
Judge Ward in the United States Circuit Court at New York
on Dec. 8 appointed Joseph H. Choate Jr . receiver of the
company in a suit instituted by George P. Hudson on the
ground of insolvency. Mr. Hudson owns $165,000 of the
$250,000 stock, more than half of the $200,000 bond issue
interest on which is in default, and claims for advances
aggregating $40,000. Gross earnings for last season are
stated as $95,000; net, $10,000.—V. 87, p. 291.
Panama Canal.— Progress of Construction.—.See 9-page
illustrated article in “ Engineering Record” of New York for
Dec. 5.— V. 84, p. 807.
Phelps, Dodge & Co., Inc . $50,000,000 Com pany to
take Over Copper F ir m ’s M in in g and M etal Sellin g Interests._■
A plan was announced yesterday for the incorporation of
a company with this title under the laws of New York
State with $50,000,000 authorized capital stock in $100
shares (present issue $45,000,000, to be listed on New York
and Boston Stock Exchanges), to take over the
properties and metal selling business of the firm of Phelps
Dodge & Co., New York. The railroads (El Paso & North
western, &c.), we are informed will be not included in the
transfer. A circular sent, under date of Dec. 10, to the
stockholders of the Copper Queen- Consolidated Mining Co.,
Moctczuma Copper Co., The Detroit Copper Mining 6 0 . of
Arizona, and Stag Canon Fuel Co., says in substance:
I n v ie w o f t h e r a p id g r o w t h a n d g r e a t ly in c r e a s e d v a lu e o f t h e d iff e r e n t
p r o p e r t i e s In w h i c h y o u a r e I n t e r e s t e d , a s w e l l a s o f t h e I n c r e a s e d n u m b e r
o f s t o c k h o ld e r s (c a u s e d p r in c ip a lly b y d e a th d u r in g th e p a s t fe w y e a r s )
w e , th e u n d e r s ig n e d , r e p r e s e n tin g a la r g e m a jo r it y o f th e s t o c k h o ld e r s
In e a c h o f t h e d i f f e r e n t c o m p a n i e s , h a v e d e c i d e d t h a t I t ls f o r t h e b e s t
I n t e r e s t o f a ll t h e s t o c k h o ld e r s t o f o r m a c o r p o r a t i o n , t o b e d e s ig n a t e d
P h e lp s , D o d g e & C o . ( I n c . ) , b y w h ic h t h e s t o c k a n d p r o p e r t ie s o f a ll y o u r
c o m p a n ie s c a n b e h e ld , a n d th e s t o c k lis te d o n th e N e w Y o r k o r B o s to n
S t o c k E x c h a n g e , th u s e s t a b lis h in g a m a r k e t a b le v a lu e f o r t h e p r o p e r t ie s
I t ls p r o p o s e d t o f o r m t h e c o r p o r a t i o n u n d e r t h e l a w s o f N . Y . w i t h p o w e r
t o m i n e , s m e l t , r e f i n e a n d d e a l ln m e t a l s , m i n e r a l s a n d c o a l , t o d e a l In
l a n d s a n d s u p p l i e s , t o h o l d a n d d e a l ln t h e s e c u r i t i e s o f o t h e r c o m p a n i e s
a n d w it h o t h e r a p p r o p r ia t e c o r p o r a t e p o w e r s .
T h e c a p i t a l s t o c k w i l l b e $ 5 0 , 0 0 0 , 0 0 0 In s h a r e s o f $ 1 0 0 e c h , o f w h i c h
$ 5 ,0 0 0 ,0 0 0 t o b e h e l d f o r f u t u r e u s e , a n d t h e r e m a in d e r ( $ 4 5 ,0 0 0 ,0 0 0 ) s h a ll
b e u se d f o r p u r c h a s e o f th e s t o c k s o f y o u r c o m p a n ie s a s fo llo w s
C o p p e r Q u e e n C o n s o lid a t e d M in . C o . a t $ 1 3 5 f o r e a c h $ 1 0 s h a r e .$ 2 7 ,0 0 0 ,0 0 0
M o c t e z u m a C o p p e r C o . a t $ 3 0 7 9 - 1 3 f o r e a c h $ 1 0 0 s h a r e ________
8 ,0 0 0 ,0 0 0
D e t r o i t C o p p e r M in . C o . o f A r iz o n a a t $ 1 5 0 f o r e a c h $ 2 5 s h a r e .
6 ,0 0 0 ,0 0 0
S t a g C a n o n F u e l C o . a t $ 8 0 0 f o r e a c h $ 1 0 0 s h a r e ---------------------------4 .0 0 0 ,0 0 0
A n y s t o c k n o t s u b s c r ib e d fo r b e fo r e J a n . 1 190 9
o n a b o v e t e r m s w ill
r e m a i n In t h e t r e a s u r y .
T h e r e w ill b e n in e d ir e c t o r s .
T h e fir m o f P h e lp s , D o d g e & C o . w ill t r a n s f e r Its m e t a l - s e ll in g b u s in e s s
a n d Its g o o d - w i ll t o th e c o r p o r a t i o n w it h o u t c h a r g e , a n d g o I n to li q u id a t i o n ,
a n d P h e lp s , D o d g e & C o . ( I n c . ) w ill s e ll t h e c o p p e r .
T h e m e m b e r s o f t h e fir m w ill a c t o n t h e d i r e c t o r a t e o f t h e c o r p o r a t i o n
M e s srs . J a m e s , D o d g e , M c L e a n a n d D o u g la s a n d t h e ir fa m ilie s h o ld a
la r g e m a jo r it y o f th e s t o c k o f e a c h o f th e s e c o m p a n ie s .
I t Is o p e n t o e v e r y s h a r e h o l d e r o f e a c h c o m p a n y t o e n t e r t h e n e w c o r
p o r a t io n o n th e s a m e terra s.
T h e r e w ill b e n o e x p e n s e o t h e r t h a n t h e u s u a l e x p e n s e o f I n c o r p o r a t io n
a n d lis tin g .
N o c o m m is s io n s , c o m p e n s a t io n s , p r o fit s o r rig h ts a c c r u e to
t h e u n d e r s i g n e d o r t o a n y p a r t i e s In I n t e r e s t e x c e p t a s t h e y m a y p r o f i t
b y t h e t r a n s f e r o f t h e ir s t o c k h o ld in g s o n t h e b a s is h e r e in s e t f o r t h .
A n y s t o c k h o ld e r m a y s e c u r e fu r t h e r I n fo r m a t io n b y a p p l y in g t o W illia m
F . C r a n e , C o m p tr o lle r , 99 J o h n S t ., N e w Y o r k .
i..
a£ eu l n v ' tc,b t 0 s , g n t h e a c c o m p a n y i n g s u b s c r i p t i o n , w h i c h w i l l b e
b in d in g w h e n h o ld e rs o f 7 5 % o f th e s t o c k o f e a ch c o m p a n y h a v e s ig n e d .
T h e r ig h t t o s u b s c r ib e s h a ll e x p ir e D e c . 31 1 9 0 8 , u n le s s e x t e n d e d b y r e s o lu
t io n o f th e d ir e c to r s o f th e n ew c o m p a n y .
[S ig n e d b y J a m e s D o u g la s , C le v e la n d H . D o d g e , A r t h u r C u r t is s J a m e s ,
J a m e s M c L e a n , w m . C h u r ch O s b o r n , E . H a y w a r d F e r r y , W illia m ] ) .
V a n V l e c k , C o r n e liu s I t . A g n e w , W a lt e r P . B lis s , G e o r g e N o t m a n .j
S ta te m e n t
by
C o m p tr o lle r ,
C o p p e r Q u e e n C o n s o lid a te d A l i n i n g C o . — T h i s p r o p e r t y c o n s i s t s o f 1 3 5
m i n i n g c l a i m s In C o c h is e C o u n t y , n e a r B l s b e e , A r i z o n a , a la r g e s m e l t i n g
p l a n t a t D o u g l a s , c a p a c i t y 3 ,0 0 0 t o n s a d a y ; a ls o m i n i n g I n t e r e s t s ln o t h e r
lo c a lit ie s , & c .
I h e o u t p u t o f t h e D o u g la s r e d u c t i o n w o r k s , I n c lu d in g
p u rch a sed a n d cu stom
o r e s , f o r fiv e y e a r s p a s t h a s b e e n 3 6 3 ,1 2 1 ,9 1 1
pou n ds.
A la r g e p o r t io n o f th e m in in g p r o p e r t y h a s a s y e t b e e n u n
d e v e lo p e d
I
[V O L . L X X X V I1 .
in
p flp per C o C o n s i s t s o f .a b o u t 2 , 5 0 0 a c r e s o f m i n e r a l g r o u n d
fo r -I n
T i 'v h lc h h a s b e e n o p e n e d th e P lla r e s m in e ,
f r A 2 e x t r a c t i o n o f 1 ,5 0 0 t o 2 , 0 0 0 t o n s a d a y o f o r e o f a n a v e r a g e g r a d e
N a r j L 'r i
9 n A
c a p a c i t y o f th e c o n c e n t r a t in g m ill ju s t c o m p le t e d a t
con n ect
t0 ?£ ’
A n a r r o w - g a u g e s t e a m r a il r o a d 5 m il e s In l e n g t h
t h 9 m ln e t h r o u g h t h e P lla r e s t u n n e l ( o v e r a m ile lo n g ) w it h
S f c r a i - A
p o w e * p l a n t 01 o v e r 4 ' 0 0 0 h . p . h a s b e n b
It t o t r a n s m i t
b 0 « l 1 H 10 m l11 a n d t h e m i n e
F o r th e t im e b e in g
b y th e
n n
p r o fit a b le t o c o n v e y th e c o n c e n t r a t e s a n d r ic h o re s
m V s
1
tt 0 t h e P ? u £ ' a s r e d u c t i o n w o r k s ( s e e a b o v e ) , 7 0 '
M a y 1008
7 ? ] i o p t 0 r e c e n t I m p r o v e m e n t s , t h e p r o d u c t i o n , w h i c h In
2 ,3 0 0
0 0 0 n n u n r i ^ n f L p o u n (ls o f m e t a l l i c c o p p e r , h a d in O c t o b e r r e a c h e d
tra te s
i f Pt h P m « r t L C a p p e r ’ c o n t a i n e d In 0 , 5 0 0 t o n s o f 1 2 ^ %
con cen 3 ,0 0 ( f ,0 0 0
lb s ? p e r r m o n th m andeC
* ’ th Is p r o d u c t ,o n c o u l d b e I n c r e a s e d t o
A r h o n f f
t
. m l 1I V
0, k /
.— S i t u a t e d In t h e C l i f t o n D i s t r i c t , .
Co
T h e i i r o n p r t v 'n n ? ! w h ic h y ie ld th e p r o d u c t o f th e A r iz o n a C o p p e r
n o w c s t L W / m L . n ! 11', ' 1 c o n s i s t s o f 1 4 5 m i n i n g c l a i m s , a n d t h e o r e
3%
of copper
^ h e h n ii° n f* tU 1 3 6 ’ ° ? ° t o n s P e r m o n t h , y ie l d i n g a b o u t
g r a d e o f a b o u t ' l A n s i m J i . tJ l e °.r,e ls c o n c e n t r a t e d m e c h a n i c a l l y t o a
w o r k s 01 T h e n r o d u c N o n Sf ^ r
a t ,M o r e n c l In t h e c o m p a n y ’s o w n s m e l t i n g
I n c r e a s e d t o 2 *? a n n ? m n nm=o r t h ,° c l e v c n m o n t h s o f t h e p r e s e n t y e a r h a s
fo ? tre a tm e n t
’ o w la !? ln « r e a t m e a s u r e t o I m p r o v e d f a c i l i t i e s
fboer mt r/il
ea
t
m
e
n
t
.
T
h
e
f
u
t
u
r
e
P
r
o
d
u« c «t i^o n w
h ee p
p rr ee ss ee n
n tt ee q
qu
u ii p
pm
m ee n
n tt ic a n
n fA in o r t ^
«i .
™ i1t*•h
u ct u
S t £ s C a n o n ^ ™ a te Ay 2 ' 0 0 0 ' 0 0 ? l b s . o f c o p p e r p e r m o n t h .
C o l f a x C o u n t v N e \ v ^ \ fp T i^ « C H V v s o n c o a
d e ld s a re s it u a t e d a t D a w so n * ,
cop per S
s
a S i K
™
a p d n , c r e P u r c h a s e d In 1 9 0 5 t o s e c u r e f o r t h e
n r o n e r t v o f t h e F l P « n * L 8^ p l y . «
cp a l a n d co k e .
T h e y w e re th e
0 0 0 0 0 0 s t o c k a n r l s i n n n * n m > H h e ;i s te r , n £ ° . a n d a r c r e p r e s e n t e d b y $ 1 , P 1e d g e d a s 'c o l l >?t e r a l a n n ^ i o ? i 11
°id 3 o f t h e D a w s o n F u e l C o . , w h i c h a r e
S f E l P a s o & ^ N o r t h e a s t e r n P n a “ c u r lt 7 f o r t w o m o r t g a g e s o n p o r t i o n s
s in k in g fu n d L v W n S
fi? .
p r o p e r t y , a g g r e g a t in g $ 5 ,0 0 0 ,0 0 0 .
A
'unci
nrovlsion
S f f ! 5T '000'000'
A
una P
^ y i s i o n ooi
r lflue
i v e c e n t s a t o n b o f f i n s In i11)11
h e e n u i t v in
,b " n .w n n
„„
. . . Keen tr.niterrccl io tbo S t» i c
T h e p r e s e n t ( s i x ) m i n e s o p e n e d a r e e q u i p p e d f o r a t o t a l r n n n r i t v nf
1 ^ 0 »0 0 0 to n s o f c o a l a m o n t h ; p r e s e n t o u t p u t a b o u t 0 0 0 0 0 to n s n e r
m o n t h , o f w h ic h a b o u t 5 0 ,0 0 0 t o n s p a s s e s t o t h e w a s h e r y a n d t h e n c e t o
th e c o k e o v e n s .
T h e c a p a c i t y o f t h e 5 5 0 c o k e o v e n s Is 2 7 , 0 0 0 t o n s a
m o n t h , p r e s e n t o u t p u t 2 5 ,0 0 0 t o n s .
D u r in g th e u n fa v o r a b le v e a r e n d in g
J u n e 3 0 1 9 0 8 t h e c o m p a n y m i n e d 8 4 6 , 4 7 3 t o n s o f c o M a n d made 177?04f
S ® ; , 130k,e ’ w h i l e I t s g r o s s e a r n i n g s w e r e $ 1 , 5 1 8 , 8 0 9 ; n e t e a r n i n g s , $ 2 2 8 , 68U , o t h e r I n c o m e . $ 5 5 ,2 5 3 .
P R O D U C T IO N
P r o d u c fio n -lb s .
1907.
C o p p e r Q u e e n ------6 3 , 3 4 1 , 0 5 5
M octczu m a
D e t r o it C o p p e r .1 7 ,9 7 4 ,5 8 1
E a rn in g s—-
M
m.T
a
.
M oo tt ee zzuum
D e tr o it C o p p e r
M IN E S ) A N D
* 3 3 ,2 3 6
8 1 4 ,8 7 4
OF
M IN E S
1906.
7 9 ,2 1 9 ,6 5 5
A N D
E A R N IN G S .
1005.
6 4 ,6 2 5 ,9 5 5
1004.
5 0 ,1 5 1 ,5 5 2
1003
3 7 ,2 5 7 4 7 0
H ’l 1 4 ’7 26
2 0 ,3 4 7 ,4 9 7
1 0 ,1 6 0 ,0 1 6
1 4 ,6 3 2 ,1 1 7
1 1 ,0 6 1 ,0 4 9
1 6 ,4 2 4 ,3 9 4
1 0 ,2 8 1 ,0 7 0
1 6 ,8 6 9 ,3 0 0
3 7 ,6 2 5 ,8 5 5
1 .1 9 5 ,4 2 4
9 7 3 ,4 5 6
$ 5 ,6 0 0 ,4 8 6
5 3 3 ,1 1 8
5 3 2 ,6 8 4
$ 2 ,9 6 0 ,6 6 0
5 9 8 ,9 9 2
6 0 3 ,3 4 0
$ 2 ,2 0 1 ,6 4 0
4 5 6 ,5 2 5
5 4 3 ,4 5 6
P L A N T , O T H E R A S S E T S (E X C L U S I V E
L I A B I L I T I E S . A S O F N O V . 1 S T 1908
--------- A s s e t s (O th e r th a n M i n e s ) ---------„
P la n t .
O th er .
T o ta l
Y ° p p <;r Q u e e J? C o n s o l . - $ 4 ,9 7 4 ,8 6 7 $ 1 0 ,9 1 5 ,4 9 3 $ 1 5 ,8 9 0 ,3 6 9
? & C, S S T O C o p p e r C o _
3 ,0 4 6 ,3 8 4
9 4 4 .6 6 3
3 ,0 0 1 ,0 4 7
D e t r o it C o p p e r M in in g
2 ,1 5 8 ,1 0 6
2 ,9 3 4 ,4 6 6
5 ,0 9 2 ,5 7 2
S t a g C a n o n I< u el C o . 3 ,2 2 6 ,4 8 8
7 4 9 ,2 7 2
3 ,9 7 5 ,7 6 0
T o t a l ............... - ....................$ 1 3 , 4 0 5 , 8 4 5
$ 1 5 ,5 4 3 ,8 9 4
$ 2 8 ,9 4 9 ,7 3 9
OF TH E
T o ta l
L i a b i l i t ie s
$ 1 ,2 7 5 ,5 7 3
3 4 7 .2 2 1
1 4 9 ,8 7 8
2 ,3 8 8 ,4 9 3
$ 4 ,1 6 1 ,1 6 6
Pillsbury-WashburnFlour Mills Co., L t d . — Reorganization
l la n . —The plan of reorganization, which originated with
the Messrs. Pillsbury, the largest stockholders, provides for
a lease of the mills to an American company,which will be
organized with not less than $2,000,000 capital stock, sub
scribed for in cash at par. At the meeting in London on
Nov. 26 Mr. William Paine, the solicitor of the English com
pany, stated that certainly not less than $2,700,000 would
be put into the operating company. The lease will run for
20 years at a rental of $100,000 yearly and one-half the net
profits above $150,000. The plan as adopted at an adjourned
meeting of the shareholders in London on Dec. 1 is out
lined as follows:
P r o p o s e d O p c r a tin o C o m p a n y . C a p i t a l to be S u b s c r ib e d i n C a s h n o t L e s s
th a n
0 0 0 , 0 0 0 . — •L i a b i l i t y L i m i t e d to A m o u n t o f C a p it a l.
W it h a v ie w t o d e t e r m in in g th o r e c e iv e r s h ip a n d p r o v id i n g f o r t h e
$ .1 , 2 0 3 ,5 4 6
^ v th » 7C a mo3a - f V ? s e .CliFe d c r e d i t o r s t o t h e e s t i m a t e d a m o u n t o f
(V . 8 7 , p . 9 3 a ) th e fo llo w in g p la n h a s b e e n p r e p a r e d
p . , ! l l » i A t n 0h n li'ntr m n c o m p a n y w i t h l i a b i l i t y l i m i t e d t o t h e a m o u n t o f I t s
£ ;tl p J ja l
J11, t
S t a t e o f M i n n e s o t a o r e ls e w h e r e ln t h e U n it e d
$ 2 <l0 0 0 ’ 0 0 0 * * a c a p t a * t 0 b e s u b s c r i b e d l n c a s h a t p a r
o f n o t le s s t h a n
T o L e a s e M i l l s a n d M i l l i n g B u s i n e s s f o r 2 0 Y e a r s at a R e n t a l o f $ 1 0 0 , 0 0 0
A n n u a lly a n d O n e -lla lf o f A ll N e t P r o fits A b o v e $ 1 5 0 ,0 0 0 .
i i^ .a *cl ° P e r a ^ n ^ c o m p a n y w i l l t a k e a l e a s e o f t h e m i l l s a n d m i l l i n g b u s i n e s s
)lL=^,Rf t o « ‘? r r « i o r j n b y
Is c o m p a n y , a n d o f t h e u s e o f t h e t r a d e m a r k s ,
b r a n d s a n d g o o d -w ill a p p e r t a in in g t h e r e t o , f o r 2 0 y r s . fr o m A u g . 8 1 9 0 8 .
. . . S u c h le a s e w ill r e s e r v e a fi x e d r e n t p a y a b l e t o t h is c o m p a n y ( t h e F l l l s b u r y W a s h b u r n F lo u r M ills C o . , L t d . ) , fr e e o f a ll d e d u c t i o n s , o f $ 1 0 0 ,0 0 0 a
y e a r , p a y a b l e h a l f - y e a r l y o n F e b r u a r y 8 a n d A u g u s t 8 In e a c h y e a r , a n d
c o m m e n c lh g f r o m A u g u s t 8 1 9 0 8 , a n d w ill a ls o p r o v id e f o r t h e p a y m e n t
t o t h i s c o m p a n y . In a d d i t i o n t o t h e f i x e d r e n t , o f o n e - h a l f o f a l l n e t p r o f i t s
e a r n e d b y t h e o p e r a t i n g c o m p a n y In a n y y e a r ( a f t e r p r o v i d i n g f o r t h e
c o s t o f m a in t e n a n c e a n d u p -k c e p o f th e m ills , p la n t a n d m a c h in e r y a n d
a ll u s u a l t r a d i n g e x p e n s e s a n d o u t g o i n g s , a n d t h e p a y m e n t o f t h e f i x e d
r e n t) o v e r a n ti a b o v e th e s u m o f $ 1 5 0 ,0 0 0 .
T h e a m o u n t o f s u c h p r o its ,
ln t h e e v e n t o f d i s p u t e , t o b e s e t t l e d b y p e r s o n s t o b e a g r e e d u p o n a n d
n a m e d ln t h e l e a s e , w h o s e c e r t i f i c a t e s h a l l b e f i n a l .
T h e le a s e w ill c o n t a i n c o v e n a n t s o n t h e p a r t o f t h e o p e r a t i n g c o m p a n y
t o k e e p t h e m i l l s In a s t a t e o f t h r o u g h e f f i c i e n c y ; t o m a i n t a i n t n e b r a n d s
t r a d e m a r k s a n d g o o d - w i l l ; t o I n s u r e t h e p l a n t a g a i n s t f i r e In t h r c e - f o u r t l i s
o f d e s t r u c t i b l e v a l u e : t o t a k e v 'a t e r p o w e r f r o m t h e M i n n e a p o l i s M i ll C o
a n d t h e S t . A n t h o n y F a lls W a t e r p o w e r C o . a t t h e l i k e r a t e s a n d c o n d i t i o n s
a s th e s a m e h a s h ith e r t o b e e n t a k e n b y th e s a id m ills .
m lo n s
N o t E x c e e d i n g 5 0 % o f N e t C l a i m s to be M e t f r o m Q u ic k A s s e t s , A c ___$ 5 0 0 0 0 0
to be A d v a n c e d b y O p e r a tin g C o m p a n y . — E n g l i s h C o . to 'R e c e i v e ’
5 0 % o f A n y A m o u n t s R e c e iv e d in L i o u id a tio n o f I n v e s t
m e n t s , A c . , in E x c e s s o f A c c o u n t a n t s ’ V a lu a t io n .
(2 ) T h e o p e r a t i n g c o m p a n y w ill t a k e o v e r f r o m t h is c o m p a n y n s f r o m
A u g u s t 8 1 9 0 9 ,. a ll Its q u i c k a s s e t s a p p e r t a i n i n g t o t h e m il li n g b u s in e s s
a n d e l e v a t o r b u s in e s s . I n c lu d in g s t o c k s a n d b o o k d e b t s a n d a ll s e c u r it ie s
f o r m o n e y o w i n g t o t h i s c o m p a n y ln c o n n e c t i o n t h e r e w i t h , w i t h c e r t a i n
e x c e p t i o n s , <jrui l , s c t h e i r b e s t e n d e a v o r s t o r e a l i z e s a m e t o t h e b e s t a d
v a n t a g e , a n d b y w a y o f c o n s id e r a t io n t h e r e fo r w ill p a y t o a tr u s t e e f o r
a P p uia tu ° i i ,
t b e m a n n c t m e n t i o n e d ln t h e n e x t c l a u s e
th e a m o u n ts
a t w h i c h t h e s a m e a r e r e s p e c t i v e l y I n c l u d e d In M a r w i c k , M i t c h e l l A C o m
p a n y s s t a t e m e n t (c o m p a r e V . 8 7 , p . 9 3 5 ) h e a d e d " I n v e s t m e n t s " a n d
a cco u n ts
and
n o te s ' r e c e iv a b le .”
The
o p e r a tin g
com pan y
w ill a ls o ,
b y w a y o f fu r t h e r c o n s id e r a t io n th e r e fo r , p a y o n e -h a lf o f a n y su r p lu s
w h ic h t h e s a m e m a y a c t u a ll y r e a liz e o v e r a n d a b o v e t h e a m o u n t a t w h ic h
t h e y a r e I n c l u d e d In t h e s a i d s t a t e m e n t .
.
I n a d d i t io n , t h e o p e r a t in g c o m p a n y w ill a d v a n c e t o tills c o m p a n y ,
u n o n t h e s e c u r i t y o f t h e M in n e a p o lis & N o r t h e r n E l e v a t o r c o m p a n y ’s
e le v a t o r p r o p e r t ie s , p lu s a n y p r o p e r t y a n d s e c u r it ie s e x c e p t e d fr o m th o
s a le o f a b o v e - m e n t i o n e d ( o t h e r t h a n Its w a t e r p o w e r s a n d a n y o t h e r p r o p
e r t y o r s e c u r i t i e s h e l d In c o n n e c t i o n t h e r e w i t h ) , t h e s u m o f $ 5 0 0 , 0 0 0 ,
o r s u c h le s s s u m a s m a y b e r e q u i r e d f o r t h e p u r p o s e s m e n t i o n e d In t h e
n e x t c la u s e .
T h e I n t e n t i o n Is t o s e l l a ll p r o p e r t i e s a n d s e c u r i t i e s a g a i n s t
w h i c h s u c h a d v a n c e Is m a d e a s s i o n a s s u c h s a l e c a n b o a d v a n t a g e o u s l y
e f f e c t e d , a n d t o a p p l y t h e p r o c e e d s ln r e p a y i n g s u c h a d v a n c e a n d I n t e r e s t
Dec. 12 190».|
THE CHRONICLE
1537
S u c h a d v a n c e w ill c a r r y In te r e s t a t t h e r a te o f 5 % p e r a n n u m , a n d
t h o r o u g h l y e q u i p p e d e l e c t r l o p l a n t , a t w o - s t o r y b r i c k l o f f l c e b u i l d i n g In.
u n l e s s t h e s a m e Is r e p a i d , w i t h I n t e r e s t , b y m e a n s o f r e a l i z a t i o n s o f t h e
t h e h e a r t o f t h e c i t y , w it h b r i c k s h o p In t h e r e a r ; t w o w e ll l o c a t e d p l o t s
s e c u r itie s t h e r e f o r , o r o t h e r w is e , b e fo r e D e c . 31 1 0 0 0 , t h e o p e r a t in g c o m
w it h b u ild in g s (f o r m e r ly u s e d b y t h e s t e a m -h e a t in g p l a n t a n d a c o m p e t in g
p a n y w ill b e e n t it le d to a p p l y t o s u c h r e p a y m e n t a n y s h a r e o f th is c o m
e le c tr ic c o m p a n y , s in c e a c q u ir e d )— th e se a re t o b e s o ld fo r fa c t o r y site s ;
p a n y In t h e p r o f i t s o f t h e o p e r a t i n g c o m p a n y , a n d s u c h p r o p o r t i o n o f t h e
5 3 .8 4 m ile s o f g a s m a in s . 2 0 .0 3 m ile s o f p o l e lin e w it h p o le s , t r a n s fo r m e r s ,
f i x e d r e n t p a y a b l e b y It t o t h is c o m p a n y ( n o t e x c e e d i n g $ 2 5 ,0 0 0 In a n y
& c ., a n d 2 .6 m ile s o f s t e a m h e a t m a in s .
o n e y e a r ) a s m a y b e re q u ir e d fo r t h a t p u r p o s e .
T h e p r e s e n t o w n e r s t o o k h o ld o f th e s e p r o p e r t ie s s o m e fiv e y e a r s a g o ,
(3 )
T h e s a id s u m s s o p r o v i d e d , o r s u c h le s s s u m s a s m a y b e r e q u i r e d w
, h e n t h e p l a n t s w e r e In p o o r c o n d i t i o n a n d t h e b u s in e s s u n d e v e l o p e d .
T h e s e p la n t s h a v e b e e n p r a c t ic a lly r e b u ilt a n d m o d e r n is e d a n d a r e t o -d a y
w ill b e a p p lie d
(a ) I n p a y in g t h e e x p e n s e s o f t h e r e c e iv e r s h ip a n d t h e e x p e n s e s I n c id e n t
In a t h r o u g h l y m o d e r n a n d e c o n o m i c a l c o n d i t i o n a n d h a v e a c a p a c i t y
t o th e p r e p a r a t io n a n d c a r r y in g I n to e ff e c t o f t h is p la n .
v e r y l a r g e l y In e x c e s s o f t h e i r p r e s e n t d e m a n d .
A t th e s a m e t im e p r ic e s
(b ) In p a y in g s u c h p r o p o r t io n a s m a y b e a g r e e d , n o t e x c e e d in g o n e -h a lf
fo r b o t h g a s a n d e le c t r ic ity h a v e b e e n c o n s id e r a b ly r e d u c e d .
D u rin g
o f a ll a d m it t e d n e t c la im s o n th e p a r t o f a ll c r e d it o r s (o t h e r th a n d e b e n t u r e th e c a le n d a r y e a r 1 0 0 7 r e n e w a ls a n d r e p a ir s a m o u n t in g t o $ 1 2 ,0 0 0 w e r e
c h a r g e d t o o p e r a t in g e x p e n s e , w h ile a d d it io n s a n d e x t e n s io n s w e r e m a d e
h o ld e r s .)
t o a n a m o u n t o v e r $ 6 0 , 0 0 0 , l a r g e l y In t h e l a s t t h r e e m o n t h s o f t h e y e a r .
T o S a t i s f y R e m a i n d e r o f S u c h C l a i m s ( s a y 5 0 % ) E n g l i s h C o m p a n y to I s s u e
T h e b u s i n e s s , h o w e v e r , r e s u l t e d In a n i n c r e a s e In g r o s s e a r n i n g s o f 1 1 . 6 8 % ,
about $ 2 ,6 7 5 ,0 0 0
5%
S ec o n d M o r tg a g e S in k in g E u n d B o n d s ,
In n e t e a r n i n g s o f 2 7 . 5 5 % a n d In n e t p r o f i t s o f 1 1 7 . 3 2 % o v e r t h e p r e v i o u s
s u b je c t to E x i s t i n g l s f M . D e b e n t u r e D e b t o f £ 8 7 5 , 0 0 0 .
year.
T h e n e t e a r n in g s w e r e e q u a l t o o n e a n d t w o -t h lr d s t im e s t h e In
N jj(4 ) T h e b a l a n c e o f s u c h c l a i m s w il l b e s a t is f ie d b y t h e c r e a t i o n a n d I s s u e
te r e s t c h a r g e a n d th e n e t p r o fit s t o 2 H % o n th e e n tir e c a p it a l s t o c k .
b y th is c o m p a n y t o t h e h o ld e r s o f s u c h a d m it t e d n e t c la im s o f 5 % 2 0 - y e a r
R ep o rt o f C o n su ltin g E n g in e e r A . B . B e a d le , N e w Y o r k , M a y 2 1 1 9 0 7 .
2 n d m o r t g a g e b o n d s , s e c u r e d b y a s e c o n d c h a r g e u p o n a ll t h e p r o p e r t y
n o w c o m p r i s e d In t h e c h a r g e o f t h e f i r s t m o r t g a g e d e b e n t u r e s ( £ 8 7 5 , 0 0 0 ) ,
" Q u i n c y h a s a p o p u l a t i o n o f a p p r o x i m a t e l y 4 5 , 0 0 0 a n d is g r o w i n g
s u b j e c t t o a n d w it h t h e b e n e f it o f t h e s a id le a s e .
T h is c o m p a n y w ill
r a p id ly .
I f i n d t h a t t h e r e Is a n u n u s u a l o p p o r t u n i t y f o r a r a p i d d e v e l o p
p r o v id e a c u m u la tiv e s in k in g fu n d f o r th e r e d e m p t io n o f s u c h s e c o n d
m e n t o f t h e g a s b u s in e s s a n d f o r b u il d i n g u p a p r o f i t a b le e le c t r i c p o w e r
m o r t g a g e b o n d s o f 1 % p e r a n n u m o f th e n o m in a l a m o u n t th e r e o f a c t u a lly
lo a d a m o n g th e n u m e r o u s fa c t o r ie s a n d s h o p s .
1 e s tim a te th e a n n u a l
I s s u e d , a n d w ill a d d t o s u c h s in k in g f u n d (a ) a ll s u m s r e c e iv a b l e b y t h e
n e t e a r n in g s a p p lic a b le t o In te r e s t a n d d iv id e n d s , a s fo llo w s :
c o m p a n y In r e s p e c t o f a n y s u r p l u s r e a li z e d o n " I n v e s t m e n t s ” a n d “ a c c o u n t s
1007.
1008.
1000.
1010.
1911
a n d n o t e s r e c e iv a b le ;” (b ) o n e -h a lf o f a ll s u r p lu s n e t s u m s r e c e iv e d b y
$ 1 3 0 ,4 8 7
$ 1 5 9 ,1 2 2
5 1 8 6 ,1 6 1
$ 2 1 4 ,0 8 5
$ 2 4 5 ,6 7 8
t h e c o m p a n y f r o m t h e s a le a n d r e a liz a t io n o f t h e p r o p e r t ie s a n d s e c u r it ie s
T h e m a n a g e m e n t o f t h i s p r o p e r t y Is p r o g r e s s i v e a n d p o p u l a r , a n d f r i e n d l y
m e n t i o n e d In c l a u s e 2 ( a b o v e t h e a d v a n c e a g a i n s t t n e s a m e a n d I n t e r e s t
r e la t io n s a r e m a in t a in e d w it h t h e c i t y a u t h o r it ie s a n d a ll t h e p r o m in e n t
t h e r e o n ) , a n d (c ) o n e - h a l f o f a ll n e t s u m s w h ic h m a y b e r e c o v e r e d b y t h is
I n t e r e s t s In t h e c i t y .
G a s Is s o l d a t $ 1 p e r 1 . 0 0 0 c u . f t . n e t .
E le c tr ic
c o m p a n y In a n y r e s t i t u t i o n p r o c e e d i n g s .
lig h t a n d p o w e r r a te s a r e o n a s lid in g s c a le b a s is fr o m 1 2 c . t o 2 H e . n e t
T h e o t h e r h a lf o f s u c h n e t s u m s . I f a n d s o fa r a s r e q u ir e d , t o b e fir s t
p e r k .w .
T h e c o n t r a c t p r i c e f o r t h e c l t r a r c l i g h t s is $ 5 4 5 0 p e r a n n u m
a p p l i e d In m a k i n g u p t h e c a s h p a y m e n t t o c r e d i t o r s u n d e r c l a u s e 3 t o 5 0
f o r e a c h a r c , o n a m o o n lig h t s c h e d u le .— V . 8 1 , p . 1 5 8
c e n t s o n th e d o lla r , a n d , s u b j e c t t h e r e t o , t o b e c a r r ie d t o a c a p l t a l r e s e r v e
a p p l i c a b l e e i t h e r In a c c e l e r a t i o n o f t h e s i n k i n g f u n d o r In s u c h c a p i t a l
e x p e n d it u r e a s m a y . In th e o p in io n o f th e tru s te e s o f b o t h cla s s e s o r d e
b e n tu re s a n d b o n d s , b e re q u ir e d fo r p r e s e r v in g , p r o t e c t in g o r I m p r o v in g
th e p r o p e r t ie s o f th e c o m p a n y .
T h e c o m p a n y m a y fu r th e r a cc e le r a te
s u c h s in k in g fu n d a t a n y t im e .
S u c h s i n k i n g f u n d m a y b e a p p l i e d In
p u r c h a s e o f s e c o n d b o n d s a t o r u n d e r p a r o r b y d r a w in g s a t p a r .
E n g l i s h S h a r e h o ld e r s m a y S u b s c r ib e f o r S to c k o f N e w C o m p a n y .
(5 ) T h e c a p i t a l o f t h e o p e r a t i n g c o m p a n y w ill b e o f f e r e d f o r p r e fe r e n t ia l
s u b s c r ip t io n t o a n y s h a r e h o ld e r o f th is c o m p a n y w h o m a y d e s ir e t o p a r
t ic ip a t e th e r e in , b u t th e d ir e c to r s a re a ssu r e d t h a t a n y p o r t io n o f s u c h
c a p i t a l n o t s o t a k e n w il l b e s u b s c r i b e d In t h e U n i t e d S t a t e s .
N o t o v e r $ 2 5 , 0 0 0 A d d i t i o n a l S e c o n d M o r t g a g e B o n d s f o r W o r k in g C a p i t a l
(6 ) F o r t h e p u r p o s e o f p r o v id i n g a d d i t io n a l w o r k in g c a p i t a l th is c o m
p a n y m a y I s s u e n o t m o r e t h a n $ 2 5 ,0 0 0 s e c o n d m o r t g a g e b o n d s In e x c e s s
o f th e a m o u n t r e q u ir e d f o r th e p u r p o s e s o f c la u s e 4 .
P o s s i b l e I n c r e a s e o f F i r s t M o r t g a g e D e b e n tu r e s f r o m £ 8 7 5 , 0 0 0 to £ 1 ) 0 0 ,0 0 0 .
(7 ) F o r t h e p u r p o s e o f p r o v id i n g fu n d s t o m e e t a n y e x c e p t i o n a l c a p i t a l
e x p e n d it u r e o n th e w a t e r -p o w e r d u e t o w a s h o u t , a c c id e n t o r o t h e r c a u s e ,
a p p lic a t io n w ill b e m a d e t o th e fir s t m o r t g a g e d e b e n t u r e h o ld e r s t o a u
t h o r iz e t h e Is s u e (I f a n d w h e n r e q u ir e d ) o f a n a d d i t io n a l £ 2 5 ,0 0 0 fir s t
m o r t g a g e d e b e n t u r e s , b r in g in g th e t o t a l Issu e u p t o £ 0 0 0 ,0 0 0 , b u t s a v e ,
a s h e r e in b e fo r e e x p r e s s ly p r o v id e d , t h e r ig h t s o f tn e firs t d e b e n t u r e h o ld e r s
w ill r e m a in u n a f f e c t e d b y t h is s c h e m e .
C o m p a n y W i l l i n g to M a k e B la n k e t M o r t g a g e f o r R e f u n d i n g .
(8 ) F o r t h e p u r p o s e o f r e f u n d in g a n d c o n s o li d a t in g t h e t w o Issu e s o f
d e b e n t u r e s I n t o o n e d e b e n t u r e I s s u e , a ll r a n k in g p a r i p a s s u , t h e c o m p a n y
w ill a t a n y t im e , a t t h e r e q u e s t In w r it in g o f t h e t r u s t e e s f o r t h e s e c o n d
d e b e n tu r e s a n d a g a in s t p r o v is io n o f t h e m o n e y r e q u ir e d fo r th e r e d e m p t io n
o f th e firs t d e b e n t u r e s a n d s e c o n d b o n d s , e x e c u t e a " b l a n k e t ” m o r t g a g e
u p o n a ll t h e p r o p e r t y c o m p r i s e d In t h e s e c u r i t y f o r t h e fir s t a n d s e c o n d
b o n d s ; p r o v id e d th a t s u c h c o n s o lid a t io n d o e s n o t In cre a se th e p r in c ip a l
o r In te re st c h a r g e s , a s th e n s u b s is tin g u p o n th e p r o p e r t y , a n d t h a t t h e
c o m p a n y Is n o t t h e r e b y p u t t o a n y e x p e n s e .
Rockingham (N. C.) Power Co.— R eceivership. —Judge
Pritchard in the Federal Court at Richmond, Va., on Nov.
23, on application of the S. Morgan Smith Co. of York, Pa.
manufacturers of hydraulic apparatus, appointed W. H.
Browne, General Manager of the company, and W. A. Leland,
who has been in charge of the construction work, as receivers.
T h e b o n d h o ld e r s s e v e ra l m o n th s a g o a p p o in te d a r e o r g a n iz a tio n c o m
m it t e e , w h ic h h a s b e e n fo r m u la t in g p la n s f o r s e c u r in g a d d it io n a l c a p it a l
fo r th e c o m p le tio n o f th e w o r k .
T h e S m i t h C o . Is a c r e d i t o r f o r m a c h i n e r y
fu r n is h e d a n d a ls o a h o ld e r o f a la r g e n u m b e r o f th e c o m p a n y ’s b o n d s .
The
c o m p la in t a lle g e s t h a t t h e r e h a s b e e n d is s e n s io n In t h e m a n a g e m e n t o f t h e
c o m p a n y a n d t h a t Its c r e d it h a s b e e n I m p a ir e d .
mh|
S e v e r a l s u its b e tw e e n th e m a jo r it y a n d m in o r it y s t o c k h o ld e r s I n v o lv in g
I n j u n c t i o n p r o c e e d i n g s a r e p e n d i n g In t h e S t a t e c o u r t s : a ls o a n a c t i o n In
th e S t a te S u p e r io r C o u r t t o d is s o lv e th e v o t in g tr u s t u n d e r w h ic h t h e c o m
m o n s t o c k Is h e l d .
J u d g e J e te r C . P r itc h a r d o n D e c . 2 , o n a p p lic a t io n o f W ilm in g to n s t o c k
h o ld e r s , g r a n t e d a n o r d e r t o s h o w c a u s e ,r e t u r n a b le D e c . 1 4 , w h y th e t w o
r e c e iv e r s h e r e t o fo r e a p p o in t e d s h o u ld n o t b e d is m is s e d a n d o n e r e c e iv e r
b e n a m e d , a r e s id e n t o f N o r t h C a r o lin a , w h e r e a m a jo r it y o f th e v o t in g
s t o c k is o w n e d .
T h e p e t it io n a lle g e s t h a t t h e r e w a s c o llu s io n a n d fr a u d u
l e n t a c t i o n u p o n t h e p a r t o f t h e N o r t h e r n d i r e c t o r s in a d m i t t i n g c e r t a i n
a l l e g a t i o n s In t h e c o m p l a i n t o n w h i c h t h e p r e s e n t r e c e i v e r s h i p w a s g r a n t e d .
A b o u t $ 2 ,0 0 0 ,0 0 0 h a s I t Is s a id a l r e a d y b e e n e x p e n d e d o n t h e p l a n t a n d
a d d it io n a l c a p it a l w ill b e r e q u lr e d t o c o m p l e t e t h e e n t e r p r is e .— V . 8 5 , p . 1 6 4 9 .
Security Investment Co., Pittsburgh.—Receivers D is
charged. —The restoration of the Westinghousc Electric &
Mfg. Co. to its shareholders (see below) was immediately
followed by the discharge of the Fidelity Title & Trust Co.
of Pittsburgh as receiver of this allied corporation, which
At the meeting in London on Nov. 26 Solicitor Paine is has been reorganized per plan in V. 86, p. 1162. The in
quoted as describing the position of the existing share debtedness at present, exclusive of interest, is $17,335,000.
holders upon reorganization in substance as follows;
(Compare V. 86, p. 1158), and all creditors except a few hav
T h e c o m p a n y h a s a r e n t a l o f $ 4 0 0 ,0 0 0 f r o m t h e w a t e r p o w e r a n d In
ing claims aggregating only $20,000, which will be paid in
a d d i t i o n w ill r e c e i v e a r e n t a l f r o m t h e o p e r a t i n g c o m p a n y o f $ 1 0 0 , 0 0 0 ,
cash, have become parties to the extension agreement.
m a k in g t o g e t h e r $ 5 0 0 ,0 0 0 , b e s id e s o n e - h a lf o f a ll t h e p r o f it s w h ic h t h e
o p e r a t in g c o m p a n y m a y m a k e o v e r a n d a b o v e $ 1 5 0 ,0 0 0 p e r a n n u m . M a n y
p e o p l e In a p o s i t i o n t o k n o w
c o n s i d e r t h a t $ 3 0 0 , 0 0 0 t o $ 5 0 0 , 0 0 0 Is a f a i r
e s t i m a t e o f t h e p r o f i t s w h i c h t h e o p e r a t i n g c o m p a n y o u g h t t o m a k e In t h e
fu tu r e .
W e , H o w e v e r , w is h t o b e c o n s e r v a t i v e , a n d t h e r e f o r e c o u n t o n l y
u p o n th e fix e d r e n t fr o m th e w a t e r p o w e r a n d fr o m th e o p e r a tin g c o m
pany.
i t c o s t s a b o u t $ 2 5 3 ,0 0 0 t o p a y t h e I n t e r e s t o n t h e fir s t d e b e n t u r e s ,
a n d i t w ill c o s t a b o u t $ 1 6 2 ,0 0 0 t o p a y th e In te r e s t a n d s in k in g fu n d u p o n
t h e s e c o n d d e b e n t u r e s w h ic h a r e t o b e is s u e d t o t h e c r e d i t o r s u n d e r t h is
sch em e.
T o g e t h e r , t h is a m o u n t s t o $ 4 1 5 ,0 0 0 , w h ic h le a v e s a v a ila b le
f o r t h i s c o m p a n y o n t h e b a s i s t h a t n o p r o f i t Is e a r n e d b y t h e o p e r a t i n g
c o m p a n y $ 8 5 , 0 0 0 a y e a r a v a i l a b l e a s a s u r p l u s , a n d I t Is h o p e d u l t i m a t e l y
f o r d iv id e n d s .
O f c o u r s e , w e h a v e t h e a d m i n i s t r a t i o n e x p e n s e s In L o n d o n ,
w h ic h m u s t b e r e d u c e d t o t h e lo w e s t p o s s ib le fig u re .
T h i s Is e n t i r e l y
I n d e p e n d e n t o f a n y I m p r o v e m e n t w h i c h m a y t a k e p l a c e In t h e w a t e r
p o w e r o r a n y s h a r e o f t h e p r o f i t s w h ic h t h is c o m p a n y w o u ld o b t a i n f r o m
th e o p e r a tin g c o m p a n y .
C om p are V . 8 7, p . 413, 420, 483, 617, 035, 038
1 0 0 1 . 1 3 0 3 .— V . 8 7 , p . 1 4 8 2 , 1 3 0 3 .
Plaza Operating Co. (Plaza Hotel), New York.— Notes Of
fered . —J . K . Rice Jr. & Co., 63 Wall St., N. Y ., offered this
C om pany’s Subscriptions for Stock of Wes ting house Electric
& M fg . C o. —See that company under “ Annual Reports” on
a previous page.— V. 87, p. 1303.
.
Sloss-Sheffield Steel & Iron Co.— Directors.— J. H. Dooley
of Richmond, Va., has been elected a member of the execu
tive committee to succeed J . Bryan, deceased, and Harry
Bronner of Hallgarten & Co. takes the place of Mr. Bryan
on the board.
E a rn in g s. —For three months ending Nov. 30 1908:
3 M o n th s
N et
end. N o v . 3 0 —
E a r n in g s.
l O O S . . . ------------------------------------- $ 4 9 3 , 0 3 5
1 0 0 7 ..........................................a b o u t 4 5 8 , 8 7 5
— V. 87. p. 1424.
In t e r e s t a n d
P r e fe r r e d
‘ a xes.
D iv . ( 1 % % ) .
$ 6 5 ,1 0 0
$ 1 1 4 ,0 0 0
a b t .6 2 ,5 0 0
1 1 4 ,0 0 0
B a la n c e ,
S u r p lu s.
$ 3 1 4 ,8 3 5
2 8 2 ,3 7 5
Southern Cotton Oil Co.— New D irector. —-See Virginia
week at 95 and interest $50,000 collateral trust 6% gold Carolina Chemical Co. below.— V. 87, p. 16 1.
notes, denomination $1,000 (c*), dated Aug. 15 1907 and
Union Electric Light & Power Co. St. Louis— P aym en t .—
due Oct. 1 1910, but redeemable at 100 and interest on 30 The $3,000,000 3-year 5% collateral trust notes, which
days’ notice. Interest A. & O. An advertisement says:
mature Jan. 15 1909, are now being paid with interest to
A u t h o r iz e d Issu e , $ 4 ,5 0 0 ,0 0 0 ; o u t s t a n d in g , $ 4 ,1 6 4 ,0 0 0 .
T ru st C om p an y
date of presentation on delivery to The Standard Trust Co.,
o f A m e r ic a , tr u s te e .
P a y m e n t o f p r in c ip a l a n d In te re st s e c u r e d b y b o n d s
r e p r e s e n t i n g a m o r t g a g e o f $ 4 ,5 0 0 ,0 0 0 , s u b j e c t t o a fir s t m o r t g a g e o f $ 5 ,
25 Broad St., New York City or, at option of holder, to
0 0 0 ,0 0 0
o n t h e P la z a H o t e l, s it u a t e d a t F if t h A v e . a n d 5 0 t h S t . , In t h e
the Mississippi Valley Trust Co., St. Louis.
C it y o f N e w Y o r k d e p o s it e d w it h th e t r u s t e e .— V . 8 5 , p . 1 3 4 4 .
Bonds S o ld . —The S3,000,000 “ refunding and extension
Quincy (111.) Gas Electric & Heating Co.— Bonds Offered.
— H. W. Noble & Co., Now York,Philadelphia and Detroit, mortgage” 5% bonds offered by N. W. Harris & Co. have
all
been sold. See circular V. 87, p. 1425.
and Poo & Davies,Baltimore, are offering, at 93 and interest,
Union Ferry Co. of New York and Brooklyn.— 3-Cent
by advertisement on another page, at which price the
yield is 5)^% , the unsold portion of $900,000 first consol F a re Extended to A ll H o u rs. —On Dec. 6 the passenger rate
idated mortgage 5% gold bonds, dated Sept. 1 1905 and during the rush hours, which has recently been 2 cents and
due Sept. 1 1935, but redeemable, all or any part, at 105 prior to April 12 1908 was 1 cent, was increased to 3 cents,
and interest on Sept. 1 1910, or any interest date there being the same as the fare for the rest of the day, as increased
after. Interest payable March 1 and Sept. 1 at the Union from 2 cents in July last. President Fairchild says:
Trust Co., Detroit, trustee. A circular says in substance.
T h i s s t e p Is t a k e n In o r d e r t h a t t h e f e r r y s e r v i c e m a y b e c o n t i n u e d .
T h e c o m p a n y fu r n is h e s a ll t h e g a s , e le c t r l o lig h t a n d p o w e r a n d s t e a m
h e a t a n d d o e s a l l t h e s t r e e t l i g h t i n g In t h e c i t y o f Q u i n c y , 111., a n d t h e s e
b o n d s c o v e r Its e n t ir e p r o p e r t y s u b j e c t t o u n d e r ly i n g b o n d s o f o n l y $ 6 0 0 ,0 0 0 .
F i n a n c i a l S ta t e m e n t .
C a p i t a l s t o c k a u t h o r i z e d a n d I s s u e d _____________________________________ $ 2 , 0 0 0 , 0 0 0
F ir s t c o n s . m t g e . b o n d s a u t h o r iz e d , $ 2 ,0 0 0 ,0 0 0 , o u t s t a n d i n g - ..
0 0 0 ,0 0 0
H e ld t o r e t ir e o n l y u n d e r ly in g lie n ( Q u i n c y G a s & E l e c t r lo
C o . 1 st g o ld 5 s. d a te d 1 8 0 0 , d u e S e p t. 1 1 0 2 0 , s u b je c t to
6 0 0 ,0 0 0
c a ll a t 1 1 0 a n d ln t.
S e e V . 6 0 , p . 4 0 5 , — F d . ) __________________
H e l d f o r f u t u r e e x t e n s i o n s a n d b e t t e r m e n t s ------------------ $ 5 0 0 , 0 0 0
C o m p a r a t iv e S ta t e m e n t o f E a r n i n g s f o r Y e a r s e n d in g D e c . 3 l s f .
O p e r a tin g
C ross
N et
B a la n c e ,
In t e r e s t
C a l.
E a r n in g s.
su r p lu s.
E xpen ses.
E a r n in g s.
on bon d s.
Y ea r$ 1 1 9 ,8 2 3
$ 5 0 ,0 2 9
$ 1 2 5 ,0 2 9
$ 7 5 ,0 0 0
1 0 0 7 _______ _____ $ 2 4 4 , 8 5 2
9 8 ,0 2 1
2 3 ,0 2 1
1 2 1 ,2 2 5
7 5 ,0 0 0
1 9 0 6 ______ _____ 2 1 0 , 2 4 6
D u r in g th e y e a r 1 0 0 7 th e c o m p a n y s o ld 0 1 ,0 5 2 ,0 0 0 c u . f t . o f g a s a n d
2 ,4 0 6 ,4 5 6 k .w . o f e l e c t r i c i t y , w h ile
th e
s tc a m -h e a tln g
r e c e ip ts w e r e
$ 1 1 ,0 1 3 .
T h e e le c t r ic a n d h e a t in g fr a n c h is e s a r e v e r y lib e r a l.
T h e g a s fr a n c h is e
g r a n t e d b y t h e L e g i s l a t u r e I n 1 8 5 3 Is p e r p e t u a l a n d c o u l d n o t b e d u p l i c a t e d
u n d e r th e p r e se n t s ta tu te .
T h e c o m p a n y o w n s a c o m p le t e g a s p la n t , a
T h e g r e a t e x p e n s e o f m a in ta in in g t h e b o a t s a n d k e e p in g u p th e p la n t ,
t o g e t h e r w it h t h e d e c r e a s e In b u s in e s s , m a k e s th is I m p e r a t iv e .
C om pare
V . 86. p . 085; V . 87, p . 220.
United Box Board & Paper Co.— C ircu lar to N on-A ssenting
Shareholders. —The reorganization committee in a circular
inviting the holders of the 35,000 non-assented shares to
participate in the reorganization, say in substance:
T h e r e s p o n s e s t o o u r c a l l I s s u e d O c t . 2 1 h a v e b e e n m u c h m o r e U b e a lr
th a n a n tic ip a te d .
T h e r e a re n o w d e p o s it e d w it h t h e W e s te r n T r u s t &
S a v in g s B a n k , C h ic a g o , u n d e r o u r a g r e e m e n t u p w a r d s o f 2 0 0 ,0 0 0 s h a r e s
o f th e s t o c k o f th e U n ite d B o x B o a r d & P a p e r C o ., b e in g a b o u t e q u a lly
d is t r ib u t e d b e tw e e n p r e fe r r e d a n d c o m m o n .
O f th e se d e p o s its th e a sse ss
m e n t s o n 3 0 , 0 0 0 p r e f e r r e d a n d 2 7 , 0 0 0 c o m m o n h a v e b e e n p a i d In f u l l , t h e
b a la n c e p a y in g t h e fir s t I n s t a llm e n t a n d a fe w p a y in g t h e fir s t a n d s e c o n d .
A s a r e s u l t o f t h i s m o s t l i b e r a l r e s p o n s e t h e c o m m i t t e e n o w h a v e In b a n k
o v e r $ 3 7 5 ,0 0 0 .
P a r t ie s w h o h a v e a lr e a d y m e t t h e fir s t c a ll e x p e c t t o m e e t
th e b a la n c e o f th e ir a s s e s s m e n ts , a n d th e s e w h e n
p a id w ifi p r o x im a t e
$ 1 ,0 0 0 ,0 0 0 f o r r e o r g a n iz a t io n p u r p o s e s .
In a d d it io n t o p a y m e n t s a lr e a d y
m a d e , t h e h o ld e r s o f a t le a s t 7 ,0 0 0 s h a r e s h a v e n o t if ie d u s t h a t t h e y e x p e c t
t o t u r n |n t h e i r s t o c k .
T h e s e o n a c c o u n t o f t h e ir a b s e n c e , I n a b ility t o
1538
[VOL. LXXXVII.
THE CHRONICLE
lo c a te th e s t o c k , o r secure p r o p e r e n d o r s e m e n t, h a v e n o t as y e t presen ted
th eir certifica tes , an d th e c o m m itte e h a v e agreed t o p r o te c t th em .
In o th e r w ord s, o v e r 8 5 % o f th e en tire list o f s to c k h o ld e r s h a v e signified
th eir w ish to jo in us In the new c o m p a n y , and Its su ccess is assured.
VVe
believ e th a t 0 5 % o f the en tire o u ts ta n d in g s t o c k w ill e v e n tu a lly be r e p re
s en ted In ou r new c o m p a n y .
M ean tim e the business o f th e B o x B oa rd C o m p a n y Is s lo w ly Im provin g.
In O c to b e r the c o m p a n y clea red o v e r $ 3 0 ,0 0 0 a fte r d e d u ctin g all expenses
o f c o n d u c tin g th e bu sin ess, an d th e m o n th ly Item o f Interest o n Its bon d s.
I n a d d itio n there w as Its in te re st In th e S traw B oa rd C o m p a n y and the
s to r e s, w h ich are also d o in g a g o o d bu siness.
W ith the rem ain ing p a y
m en ts d u e D ec. 22, Jan . 15 an d F e b . 15, all the flo a tin g d e b t ca n be p a id ,
th e c o m p a n y ta k en o u t o f the hands o f the r e ce iv e r an d the h e a v y item
o f ex p en se In th a t d ir e ctio n s to p p e d .
M eantim e th e b o n d s o f the U nited
B o x B oa rd h a v e resp on d e d t o th e Im p ro v e d s itu a tio n and are In d e m a n d
t o -d a y a t an a d v a n c e o f 20 p o in ts o v e r th e q u o ta tio n o f last su m m er.
— V . 8 7 , p . 1360. 1163.
United Fruit Co.— Debentures S o ld . —Tho company has
sold to Lee, Higginson & Co. of Boston the total authorized
issue of $4,250,000 of 4j^% first debentures dated Jan. 1
1909 and maturing July 1 1923; The debentures, it is
reported, contain a provision that in the event of a mortgage
being placed on the company’s property the debentures shall
share in the security thereof. They also have, it is said, a
sinking fund provision sufficient to retire the entire issue out
of earnings by maturity, one-tenth of the issue to be retired
yearly alter a certain date.
The “ Boston News Bureau” of Dec. 9 said:
T h e U n ited F ru it C o. w ill a n n o u n ce so m e n ew fin a n cin g v e r y s h o rtly ,
p r o b a b ly b efore Jan . 1.
W e u n d e rsta n d th at an Issue o f betw een $ 4 ,0 0 0 ,
0 0 0 a n d $ 4 ,5 0 0 ,0 0 0 lon g-tim e b on d s t o c a rry 4 to 5 % Interest Is p lanned ,
w h ich w ill be o llered to in vestors in B o s to n and N ew Y o r k . T h e proceeds
w ill fu rn ish a n eed ed a d d itio n to w o rk in g ca p ita l, w h ich on S e p t. 30 last
w as o n ly 51 ,2 9 0 ,1 0 5 , be in g a d ecrease fo r the ye a r o f $ 2 ,1 8 8 ,1 9 5 , caused
b y a d v a n ce s to the NIpe B a y C o ., the T r o p ic a l F ru it S tea m sh ip C o. fo r
n ew steam ers a n d the N o rth e rn H a llw a y f o r a d d itio n a l c o n s tru ctio n In
C osta R ic a .
T h o a d v a n ce s fo r these three o b je c ts on S e p t. 30 to ta le d $5 ,2 6 7 ,0 3 8 ,
all o f w h ich had been taken eith er fro m earnings o r w o rk in g ca p ita l. Th e
1907-08 p o rtio n w as 5 2 ,2 4 8 ,2 8 4 , o f w h ich $ 2 ,0 8 2 ,4 4 5 represen ted N lpe
B a y an d T ro p ic a l S team sh ip a d v a n c e s . T h e sale o f these b o n d s w ill
p r o v id e fo r the retirem ent o f lloatin g d e b t, a m o u n tin g S e p t. 30 to $600,000,
a n d w ill Increase net w ork in g ca p ita l to a to ta l o f be tw e e n $5,0 0 0 ,0 0 0 and
$ 5 ,5 0 0 ,0 0 0 . C om pa re V . 8 7 , p . 1417, 1426.
United States Light & Heating Co.— Incorporation of
Proposed M erger C om pany. —This company was incorporated
on Dec. 4 under the laws of Maine, with an authorized
capital of $17,500,000, viz: $15,000,000 common and $2,500,
000 preferred; par of shares, $10. W. S. Crandall, Secretary
and Treasurer of the United States Light & Heating Co. of
New Jersey (a majority of whose $0,000,000 stock was pur
chased in 1905 by interests identified with the New York Air
Brake Co., but not by that company itself), is quoted as
saying:
i t a p p ears th a t H o o le y , L e a rn a rd & C o ., N ew Y o r k , h a ve w ritte n the
s to ck h o ld e rs o f o u r c o m p a n y th a t th e y w o u ld take o v e r the s to c k a t $5,
w h ich Is h alf Its p ar va lu e .
T h re e -fo u rth s o f the ca p ita l s to c k o f $6,0 0 0 ,0 0 0
Is w a n ted o n o p t io n b y M arch 15. T h e p u rp o se Is so m e kind o f a m a lg a
m a tio n w ith com p an ies o f a s o m e w h a t sim ilar natu re, I b eliev e.
[The U n ited S tates L ig h t & H e a tin g C o ., N ew Y o r k C ity , has also been
In corp ora ted w ith $10 ,000 s to c k to m a n u fa ctu re ap p lia n ce s fo r ligh t and
h ea t.
In c o r p o r a to rs are: J o h n L . L lu eh a n , 883 L o n g w o o d A v e ., N ew Y ork
C ity ; J oh n M iller, 512 W e s t 156th S t., N ew Y o r k C t y . an d F re d e rick
H o lm a n , 711 S ev en th A v e ., C ollege P o in t, N . Y . — E d .]— V . 87, p. 1483.
S a le s f o r Y e a r s e n d i n o D e c . 1 1 9 0 7 .
1 0 0 7 .................................................. $ 3 , 3 0 0 , 9 2 5 1 1 9 0 3 . . . ..........................................
1 0 0 6 . ............................................ ...
3 , 0 3 6 , 2 2 0 1 9 0 2 ____________________________
J 0 0 5 ............... .. ...............................
2 , 6 6 5 , 9 9 5 | 1 9 0 1 ____________________________
2 , 2 9 6 , 3 8 9 1 1 0 0 0 ______________
1 0 0 4 ..................................................
$ 2 ,0 6 7 ,5 7 0
1 ,5 9 5 ,8 8 6
1 ,1 5 1 ,5 0 7
6 3 3 .0 4 3
S ta te m e n t o f l e a r n in g s .
.
,
„
A n n u a l p r o f i t s f r o m o p e r a t i o n ------------In te re s t p a id o n b o r r o w e d c a p i t a l . . .
1907.
$ 3 0 5 ,0 4 7
6 8 ,2 2 7
1906.
$ 2 6 6 ,4 7 3
6 2 ,5 1 5
1905.
$ 2 5 0 ,0 6 2
6 5 ,0 9 1
N e t p r o llts a p p lic a b le to d iv id e n d s .
$ 2 3 6 ,8 2 0
$ 2 0 3 ,9 5 8
$ 1 9 4 ,9 7 1
. 1 0 ® I n t e r e s t p a i d o n b o r r o w e d c a p i t a l w ill b o r e d u c e d a p p r o x i m a t e l y
^ t V 10 •i m ° utR
t h e d i v id e n d o n th is Is s u e o f p r e fe r r e d s t o c k ,
i
0,r e r c r r e (l s t o c k Is p r e f e r r e d b o t h a s t o a s s e t s a n d d i v i d e n d s , a n d It
a cl r e k u i a r ( 7 % ) d i v i d e n d s e a c h y e a r s i n c e I t s I s s u e
T h e com m on
„ 9 a A s a t l ,a ll1n u a l d i v i d e n d o f 8 %
T h e la s t r e c o r d e d s a le s o f w h ic h
w e h a v e k n o w l e d g e w e r e a t a u c t i o n in U t i c a , w h e n t h e p r e f e r r e d s o l d a t
$ 1 1 6 a sh a re a n d th e c o m m o n a t $ 1 3 0 a sh a re .
,.r t
ln 1 8 9 l > $ 2 0 , 0 0 0 ; I n c r e a s e d 1 8 9 3 t o S 5 0 . 0 0 0 ; a g a i n s a m e
« 5 ‘r?n
0 0 ; ™ : In 1 8 9 6 t o $ 2 0 0 , 0 0 0 ; In 1 9 0 0 t o $ 5 5 0 , 0 0 0 ; In 1 9 0 1 t o
u i
11 1 9 0 8 t o $ 1 , 5 0 0 , 0 0 0 ; o f w h i c h a ll b u t $ 1 7 5 , 0 0 0 c o m m o n s t o c k
,1.V i,, „ i I s s u e d a t o n c e .
T h e c o m p a n y p r o d u c e s a b o u t 3 ,0 0 0 d o z e n s o f
„ A ci. k a t m e n t s , a d a y , o p e r a t e s 4 5 , 0 0 0 s p i n d l e s f o r c o t t o n s p i n n i n g ,
r u n n i n g n i g h t a n d d a y , a n d e m p l o y s a b o u t 1 , 6 0 0 h a n d s ln I t s l i v e c o m l“ ® _ m i l l s .
T h e m a i n p l a n t h a s a f r o n t a g e o f 1 ,5 0 0 f e e t a n d a d e p t h o f
SiTiT*
, , t^ h c p l a n t s a r e r u n n i n g f u l l , a n d in s o m e I n s t a n c e s b o t h
n i , h t a n d d a y , o n o r d e r s w h ic h in s u r e a p r o f it a b le s e a s o n ’s b u s n e s s .
b u b s c r lp t lo n s fo r th e n e w s t o c k w e re r e c e iv e d a t F ir s t N a tio n a l B a n k ,
U t i c a , N . y .; S y r a c u s e T r u s t C o . , S y r a c u s e , N . Y ; P r o c t e r & B o r d e n ,
E q u it a b le B ld g ., N . Y . C ity .
O f f i c e r s — P r e s W e n t . V V lin a m T . B a k e r ; V i c e - P r e s i d e n t , J o h n W . A l l i s ;
l rea s u r e r a n d G e n e r a l M a n a g e r , v u e n t l n M e A d a m ; S e c r e t a r y a n d A s s is t a n t
T r e a s u r e r , G e o r g e VV. O a t l e y ; a l l o f U t i c a . — V . 7 0 , p . 8 5 0 .
Virginia Carolina Chemical Co .—•N ew Director .—Harry
Bronnor of Messrs. Hallgarten & Co., has been elected a
director and also of the Southern Cotton Oil Co., to succeed
Joseph Bryan, deceased.— V. 87, p. 136 1, 1092.
Western Union Telegraph Co .— D ividend Increased.—
llm directors on Wednesday declared a quarterly dividend
of % of 1% , payable Jan. 15 to stockholders of record
Dec. 19, thus placing the stock on an annual basis of 3% ,
as against 2% (^ ot 1% quar.) in October and Ju ly last.
1891
5
D iv id e n d R e c o r d
1891
. . ,1 8 9 2 - ,
1 8 9 3 to O ct. 1 9 C 7 .
15 (1 0 s c r ip )
5 ( 1 M q u a r .)
to
1908
J a n .’0 8 .
\)4 stk .
( P e r C e n t .)
A p r . ' 0 8 . J u l y ’ OS. O c t .’ 0 8 .
1 ) 4 s t k . )4 c a s h
)4 c a s h
President It. C. Clowry made the following statement:
iV10 s ®t "l ,; i c l > c ,a u s e d b y l a s t y e a r ’ s s t r i k e a n d t h e l o n g
0!?,re s s ? rn w ‘l ' c *i A l l o w e d , w e f e e l e n c o u r a g e d w i t h r e f e r e n c e t o o u r b u s l A , J )a ' . 2
d iv id e n d fo r th e q u a r te r s e n d e d J u n e 3 0 a n d S e p t .
l a t 9 o f 2 /o P c r a n n u m .
F o r th e p r e s e n t q u a r te r e n d in g D e c.
;T o u r e s t im a t e d n e t e a r n in g s o v e r a n d a b o v e a ll f ix e d c h a r g e s a r e 1 ) 4 % ,
o r a t t h e r a t e o f 6 / o p e r a n n u m , a n d It w a s d e e m e d b e s t t o I n c r e a s e t h e
u iv id e n d t o h o f 1 % , o r a t th e ra te o f 3 % p e r a n n u m .
'I h e p r o p e r t y
is In e x c e l l e n t c o n d l t o n
a n d I t Is t h o u g l i t b e s t t o h u s b a n d o u r r e s o u r c e s
s o a s t o c o n t i n u e t o m a i n t a i n It n g o o d c o n d i t i o n a n d b e p r e p a r e d f o r a n y
In cre a se o f t r a ffic .
Q uarterly .—For throe and six months ending Dec. 31
(partly estimated in 1908):
3
m o s. en d .
Ne
In te r e s t
D iv id e n d s
D ec. 3 1 —
N a m in g s.
C h a rges.
P a id .
1 9 0 8 ..................... $ 2 , 0 0 0 , 0 0 0
$ 4 3 3 ,0 6 2
(■’4 % ) $746,822
1 9 0 7 ..................
8 0 3 ,9 4 2
4 3 3 ,0 6 2
(1 ) 4 % ) 1,217,000
6 m o s .—
1 9 0 8 ____________$ 3 , 8 6 4 , 9 5 5
$ 8 6 6 , 1 2 4 (1 H % ) $ 1 , 2 4 4 , 6 4 2
1 9 0 7 __________
4 9 2 ,4 4 9
8 6 6 ,1 2 4 ( 2 > * % ) 2 ,4 3 4 ,0 2 5
T o t a l s u r p lu s D e c . 31 1 90 8 (e s t im a t e d ), $ 1 0 ,1 4 8 ,0 4 5 .—
B a la n c e ,
S u r . o r D e f.
s u r .$ 8 2 0 ,1 16
d e f. 8 4 6 ,1 2 0
s u r .$ 1 ,7 5 4 ,1 8 9
d e f. 2 ,8 0 7 ,7 0 0
United States Realty & Improvement Co.— Contracts—
V . 8 7 , p . 1014,
E a rn in g s . —-President H. S. Black announces that the con
Westinghouse Electric & Manufacturing Co .— Receivers
tracts of the company in all parts of the country aggregate a Discharged .—Judge James S. Young in the United States
total of about $$0,000,000, the largest amount of business District Court at Pittsburgh on Dec. 5 dischared the receivers,
on hand since the organization of the company. The net the debts of the company having been arranged for “ with
earnings for the month of November (see below), it is said, the exception of unassenting claims of about $700,000,
establish a new high monthly record.
which will at once be paid in cash.”
C o n s o lid a ted P r e lim in a r y In c o m e A c c o u n t fo r N o v e m b e r a n d S e v e n M o n t h s
Status .—See “ Annual Reports” on a preceding page.
e n d e d N o v e m b e r 30 1908.
Security Investment C o. —-See that company above.
N ov.
7 M a s.
„ , ,
N ov.
7 M os.
R e c ’ts f r o m —
5
S
D e d u c n s ( c o n c l .)
$
$
L isted .—The New York Stock Exchange listed on Dec. 8
I n t e r e s t ___________ 17,458
127,128 E x p . o f m a n a ge ’ t . 28,720
207,554
additional amounts of assenting (common) stock and
I n v e s t m e n t s ---------136 ,990 1,040,111 In t. on deben tu res 55,350
387 ,4 5 0
P r o fit on b u ild in g
convertible sinking fund 5% gold bonds dated 1906, and
c o n t r a c t s ...............113,770
546 ,298
T o ta l d e d u c t ’ n s . 158,761 1,138,444
authorized the listing of additional amounts, when issued
575,093
B a la n c e ----------------- 109,457
T tal g r o s s ____ 268 ,218 1.7 1 3 ,5 3 7 D ivid e n d s, 6 m o s . _____
prior to July 1 1909, in accordance with the plan, as follows
323,256
D e d u c t—
(compare statement under “ Annual Reports” ).
I n t . on m tg e s ., & c. 74,691
543,440
B a la n ce , su r p lu s l0 0 ,4 5 7
251 ,837
Bills p a y a b le O ct. 31 1 9 0 8 ,.s$ l . 4 1 5 ,0 0 0 , again st $ 2 ,0 0 0 ,0 0 0 o n A pril 30
1908: tota l su rplu s, as pec ba la n ce sh eet, $ 3 ,0 3 5 ,3 9 4 , a ga in st $ 2 ,8 9 3 ,0 1 4 .—
V . 8 7 , p . 1305, 1163.
C
United States Steel Corporation.— Called B o n ds. — One
hundred and eighty-seven ($187,000) first mortgage 5%
bonds of the Pittsburgh Steamship Co. dated Jan. 1 1900
have been drawn for redemption at par and accrued interest
at the Union Trust Co. of Pittsburgh, trustee.—V. 87, p .
115 9 , 952.
Utica (N. Y .) Knitting Co.— Preferred Stock O ffered.—
This company, incorporated in 1891 under the laws of Now
York, and now stated to be the largest manufacturers of
ribbed and fiat-fleeced cotton underwear in the country,
recently offered for subscription at par ($100 a share),
$575,000 7% cumulative preferred stock, the proceeds of
which are to be used “ as additional cash working capital
and to finance and extend the steadily increasing business.”
A circular dated Nov. 9 1908 said in substance:
„
C a p ita liz a tio n .
P referred s tock o u ts ta n d in g ________________________ _______ $ 1 2 5,00 0
Prof, s to c k now offered , c a rrv ln g d iv id e n d fro m D ee. 1. 575 ,0 0 0 $ 7 0 0,00 0
C om m o n s to c k a u th orized $ 8 0 0 ,0 0 0 , In treasu ry unissued
$17 5 ,0 0 0 , rem ain der o u ts t a n d in g ..................- ..................... ................... $ 6 2 5,00 0
F irst M. 5 % b on d s (due Jan . I 1 9 2 0 ), b ein g retired $15 ,000
180,000
y e a rly b y call a t 105...................... ................ ..................... - - - ................
F in a n c ia l S ta tem en t.
(F igu res from rep ort as o f D e c. 1 1907, d a te o f la te st In v e n to ry ; ch an ges
sin ce o n ly those In general cou rse o f business. F lo a tin g d e b t D ec. 1 190 8
w ill b e a b o u t $100,000 less than on D ec. 1 1907.)
Q uick A ssets— cash, $56,574; a cco u n ts and notes receivable,
$29 2 ,6 5 4 ; m erch andise, $ 6 5 3 ,0 9 6 ______________________________ $ 1 ,0 0 3 ,3 2 4
F lo a tin g d e b t , $827,906; less p ro ce e d s o f sale o f $ 5 7 5,00 0
preferred a t p a r ......................................... ................................................
252 ,906
N et q u ick a sse ts................. ..................................................................
R ea l e s ta te , p la n t and m a ch in e ry , $ 1 ,2 9 8 ,9 4 0 ; less b o n d s,
$ 1 8 0 ,0 0 0 ,$ 1 ,1 1 8 ,9 4 0 ; s t o c k n s u b sid ia ry c o m p a n ie s , $60 ,2 0 0 ;
license rights a n d trade m ark s, $ 1 7 5 ,0 0 0 .......................- .................
$750,417
1,3 5 4 ,1 4 0
Total net assets securing the preferred stock_______________$2,104,557
,
.
,,
.
,
S to c k .
C on vert. 5 s
A m o u n t a d d e d t o l i s t D e c 8 ...................................... .............. $ 7 , 4 0 0 , 3 0 0
$ 2 ,0 0 4 ,0 0 0
A u t h o r i z e d t o b e l i s t e d p r i o r t o J u l y 1 1 9 0 9 ________
2 ,1 5 9 ,7 0 0
8 9 6 ,0 0 0
T o t a l a m o u n t n o w lis t e d a n d a u t h . t o b e lis t e d
3 3 ,4 9 8 ,0 0 0
2 3 ,0 3 1 ,0 0 0
Notice to Depositors under P la n . —The readjustment
committee, James N. Jarvie, Chairman, give notice that
on and after Dec. 1-1 depositors under the plan will re
ceive the securities to which they arc entitled.
O fficers. — The following officers are announced:
T e m p o r a r y C hairm an o f the B o a rd , E C. C o n ve rse ; P re sid e n t, G eorge
W e stin g h o u se ; F irst V lc e -P r e s ., E. M. H err; S e co n d V lc e -P r e s ., L . A .
O sb orn e; A c tin g V ice -P re sid e n ts, G. W . H e b a rd and W a lte r M. M cF a r
lan d; S e cre ta ry , Charles A . T e r r y ; T reasu rer, T W . S lem on ; A ssista n t
T reasu rers, E. St. Joh n an d II F . B altz: A u d ito r , J. C. B en n ett and A ssist
a n t A u d ito r s , W . B. C ov ll J r ., an d F . E . C raig.
See d ire cto rs an d p r o x y
co m m itte e ln V . 87, p . 1483, 1425.
York Silk Mfg. Co.— Bonds. —-The company has filed
a mortgage to the Windsor Trust Co. of New York, as
trustee, to secure an issue of $750,000 6% gold bonds in
three series of $250,000 each, per plan in V. 87, p. 480, 551.
— Attention is called to the advertisement of Sutro Bros.
& Co. offering $1,000,000 of the City of New York 4% gold
bonds. Particular attention is called to the fact that these
bonds are issued to provide for the supply of water, as bonds
issued for this purpose are not included in ascertaining the
debt limit of the city.
—Edward Lowber Stokes, member of the Philadelphia
Stock Exchange, and dealer in investment securities, has
removed to more commodious offices on the ground floor
of 104 South Fifth St., Philadelphia.
— F. J . Lisman & Co. have moved their Hartford office
from the Conn. Mutual Bldg, to the State Savings Bank
Building.
THE CHRONICLE
Dec. 12 1908.
M z p o tts
a n ti
1 5 3 9
M n m m m tx
UNION PACIFIC RAILROAD COMPANY.
E LE V E N TH ANNUAL R E PO R T —FO R TH E Y E A R END ED JU N E 30 1908.
N ew Y o rk , N ovem ber 24 1908.
To the Stockholders of the U nion P a c ific R a ilro ad C om pany:
The Board of Directors submit herewith their report of the operations and affairs of the Union Pacific Railroad Com
pany and its Auxiliary Companies for the fiscal year ended June 30 1908.
The combined operations and affairs of the Union Pacific Railroad Company, the Oregon Short Line Railroad Com
pany and the Oregon Railroad & Navigation Company are herein designated for convenience by the term “ Union Pacific
Railroad and Auxiliary Companies.”
P R O P E R T IE S AND M ILEAG E.
The Union Pacific Railroad and Auxiliary Companies owned or controlled by ownership of stock or by lease, on June
30 1908, the following miles of railway and water lines:
Companies.
Mileage of Railways owned by;
Mileage of Lines belonging to Companies whose Capital Stocks are entirely owned by the Union Pacific
Railroad and Auxiliary Companies but whichare operated under leases to them;
T o t a l o w n e d --------------------------------- ------------------------------------------------------------------------------------------------------------------------------
Mileage of Lines operated, leasedfromother Companies:
Main
Track.
Second
Track.
3 .2 6 8 .8 9
1 .1 7 7 .9 0
1 ,0 7 9 .5 4
3 6 5 .8 5
4 .6 3
1 1 .6 1
3 1 8 .1 2
1 9 5 .2 2
1 1 .6 1
1 .3 2
6 3 .0 7
2 7 .2 0
6 ,0 5 1 .2 8
3 8 2 .0 9
1 ,7 9 4 .4 7
1 ,1 6 3 .6 4
3 5 5 .3 3
1 8 3 .9 1
2 .8 9
2 .5 4
L e a s e d --------------------------------------------- ------------ ---------------------------- ------------------------------ ----------------------------------------- —
.................
Water
Lines.
Sidings.
2 5 8 .0 0
2 5 8 .0 0
1 9 .2 3
5 .4 3
19 23
6 ,0 5 6 .7 1
5 ,9 1 6 .3 8
3 8 2 .0 9
2 8 8 .2 2
1 ,8 1 3 .7 0
1 ,7 6 0 .7 6
1 4 0 .3 3
9 3 .8 7
5 2 .9 4
2 5 8 .0 0
2 5 8 .0 0
The details of mileage of the railway and the water lines are shown in Table No. 1 of the Comptroller’s report.
The railways of the Leavenworth Kansas & Western Railway Company, extending from Leavenworth to Miltonvale,
Kansas, a distance of 1G5.33 miles, and of the Topeka & Northwestern Railroad Company, extending from Menoken to
Onaga, Kansas, a distance of 37.50 miles, whose stocks and bonds were already owned by the Union Pacific Railroad Com
pany, were taken over during the year and their operations are included in this report.
The construction of the double-track railway of the South Omaha & Western Railroad, from South Omaha to Lane,
Nebraska, a distance of 1 1 . GO miles, was completed. This line shortens the distance between South Omaha and points west
of Lane 8.94 miles.
.
.
, .
,
,
The additions to miles of railway owned or operated and the changes during the year in main and in second tracks
of the respective companies or companies organized in their interest were as follows:
Additions.
Main Second
Track. Track.
oOn’ FPaacific
Railroad:
llo n ’s t o L u t h e r v ille ,
.
_
,
N e b r a s k a , b u ilt , o p e n e d to r tr a ffic D e c e m b e r 2 0 190 7
P a r k d a l e , C o l o r a d o , b u i l t , o p e n e d f o r t r a f f i c J u n e 8 1 9 0 8 ------------------------------------------------G u n n , W y o m i n g , b u i l t , o p e n e d f o r t r a f f i c M a y 7 1 9 0 8 ...........................- ---------------------------D e t r o i t t o E n t e r p r i s e , K a n s a s , t r a n s f e r r e d f r o m s i d i n g s -----------------------------------------------J o h n s o n t o M c K l s s l c k , C o l o r a d o , t r a n s f e r r e d f r o m s i d i n g s ------------------------------------------N e b r a s k a D i v i s i o n ................................................................ ................................................ .........................................
W y o m i n g D i v i s i o n -----------------------------------------------------------------------------------------------------------------------------------U t a h D i v i s i o n _____ _______ ______________________________________________________________________________
South Omaha & Western Railroad:
N o.
N o r t h K e in m e r e r J u n c t io n t o
F lv e P o in t s t o F iv e P o in t s J u n
C le a r fle ld t o S y r a c u s e , U t a h ,
_______ _
5 , W y o m i n g , b u il t , o p e n e d t o r t r a f f ic J a n u a r y 12 1 9 0 8 N o r th K e m m e re r, W y o m in g , tra n sfe rre d fr o m s ld ln g s .
c t io n , U t a h , t r a n s fe ir c d fr o m s ld ln g s t r a n s f e r r e d f r o m s i d i n g s ..............................
Minidoka &Southwestern Railroad:
T w i n F a lls t o U u h l, I d a h o , b u il t , o p e n e d f o r t r a f f ic O c t o b e r 1 1 0 0 7 -
St. Anthony RailroadCompany:
E l v a t o M e n a n , I d a h o , t r a n s f e r r e d f r o m s i d i n g s --------------------------------- - -
S u g a r C i t y t o S n a k e R i v e r , I d a h o , t r a n s f e r r e d f r o m s i d i n g s --------------I d a h o F a lls t o S t . A n t h o n y , I d a h o , tr a n s fe r r e d fx o m m a in t r a c k - - .
Oregon Railroad &.Navigation Co.:
S t . J o h n s t o M c a g ly J u n c t io n , O r e g o n , b u ilt , o p e n e d f o r t r a ffic J u ly 2 5 1 9 0 7 -
Spokane Union Depot Co.:
Spokane,
W a s h i n g t o n ------------- -------------------------------------------------------------------------------------------------------
^ m a p e ^ d h f t o n at o Rp ? l o t aR o c k , O r e g o n , b u i l t , o p e n e d f o r t r a f f i c D e c e m b e r 1 6 1 9 0 7 , a n d l e a s e d t o t h e O r e g o n
R a i l r o a d & N a v i g a t i o n C o m p a n y ------------------------- ----------------------------------------------------------------------------------------------------------T o t a l ...................
N e t ln c r e a s e -
6 2 .1 0
.0 6
.1 4
1 .9 6
.8 5
5 0 .0 1
.3 3
3 1 .9 2
1 1 .6 1
S u m m it t o L a n e , N e b r a s k a , b u ilt , o p e n e d f o r t r a fflc .J u n e 28 1 90 8
Oregon
Short Line Railroad:
N o r t h K e m m e r e r t o M in e
Deductions.
Main Second
Track. Track.
1 1 .6 1
7 .2 4
.8 7
1 .0 9
4 .9 8
1 5 .1 9
1 0 .1 7
5 .7 8
.1 0
3 .7 9
.3 9
1 4 .2 1
1 4 0 .4 3
9 3 .8 7
.1 0
1 4 0 .3 3
In the classification of expenditures for additions and betterments under consideration by the Inter-State Commerce
Commission, branch lines are defined as “ lines serving one or more stations beyond point of junction with main fine or
other branch line and to or from which stations regular tariff rates are in effect.” Under this definition, extensions and
spur tracks formerly reported as sidings are now dealt with as branch lines.
During the year there was a net increase in sidings of 52.94 miles.
The average number of miles of railway operated for the year, for which the accompanying statements of receipts and
expenses are submitted, was 5,781.41 miles.
INCOME FO R TH E Y E A R .
The gross receipts and disbursements of the Union Pacific Railroad and Auxiliary Companies, after excluding aU
offsetting accounts between them, were as follows:
1540
T H E CHRO NICLE
[V o l . l x x x v ii.
1908.
Average miles ol rail line operated during the year-------------------------- ------
Increase ( + ) or
Decrease (— ) .
1907.
5,781.41
5 ,644.55
+ 136.86
$ 7 4,422 ,776 81
1,616,448 10
$74,656 ,152 11
1,652,446 39
— $233,375 30
— 35,998 29
$76,039 ,224 91
$76,308 ,598 50
— $260,373 59
$40,177 ,515 62
1,516,519 67
2 ,444,725 87
$38,628 ,099 72
1,520,478 51
2 ,076,945 17
+ $1,549,415 00
— 3,958 84
+ 3 6 7 ,7 8 0 70
+ $1,913,237 76
T R A N S P O R T A T IO N O P E R A T IO N S .
Outside operations— revenues---------------------------------------------------------------- --------Total revenue____________________ _________- ..................................................................................... r ...........
Taxes (rail lines and property dealt with as outside operations)...................... _ ............................
$44,138,761 16
$42,225,523 40
$31,900,463 75
$34,083,075 10
Interest on funded debt outstanding In the hands of the p u b lic ........................................ .......
Sinking fund, Utah & Northern R y . Co. Consolidated M ortgage-------------------------------------
$11,245 ,899 39
12,013 33
1,487,123 40
$8,640,608 34
12,013 33
1,357,780 80
+ $2,605,201 05
----------- ------------------------------------------------------------------------- --------------------------Total
L e s s — Rentals for lease of road, for joint tracks, yards and other facilities, viz.
Collections ----------------------------------------------------------------------------------------------------------------- $671,106 22
Paym ents------------------------------------------- ------------------------------------------- ----------- ------------------ 126,825 63
$12,745 ,036 12
$10,010,402 47
+ $ 2,734,633 65
Fixed Charges.
Surplus after paym ent of fixed charges________________ ____________________________
.
+ 129,342 60
544,280 59
634,117 49
— 80,836 00
$12,200 ,755 53
$9,376,284 98
$19,699,708 22
$24,706 ,790 12
+ $ 2,$24,470 55
. —. -— -------— «j>o,00/,u&l 90
$3,981,764 00
11,729,274 00
$3,981,764 00
11,728,824 00
+ $450 00
04 00
232 00
— 138 00
$15,711,132 00
$15,710 ,820 00
+ $312 00
$ 3,988,576 22
$8,995,970 12
Application of Surplus.
Dividends on stocks of Union Pacific Railroad C o.:
Dividends on stocks of the Oregon Railroad & Navigation Co. In the hands of the public:
Surplus after paym ent of dividends--------------------------------------------
.
IN C O M E O T H E R T H A N F R O M T R A N S P O R T A T IO N O P E R A T IO N S .
Interest on bonds owned of companies other than Oregon Short Line Railroad and Oregon
Railroad & Navigation Companies____________ ______ _____________
Dividends on stocks owned of companies other than Oregon Short Line Railroad and Oregon
Railroad & Navigation Companies------------------------ ------------------------------- .
____ __
Sales of unpledged lands and town sites------------------------------ ----------------Total
.
....................................................................................... ..................
Less — Balance of Interest on loans and on open accounts other than with Auxiliary Companies
Deductions—
Dividends on stocks of Union Pacific Railroad C o.:
4 % on common s t o c k -........................................... - ......................... ...................................
Su rplus_________________________________________________________
Total surplus from transportation and other income after payment of dividends____
Applied as follows:
$1,143,063 81
$258,844 28
+ $884,219 53
15,370,873 50
249,131 60
505 70
11,563,105 25
136,231 40
14,925 81
+ 3 ,8 0 7 ,7 6 8 25
+ 112,900 20
— 14,420 11
$16,763 ,574 61
, $11,973 ,106 74
+ $ 4,790,467 87
$540,225 73
203,657 33
$477,389 45
25,586 53
+ 62,836 28
+ 178,070 80
$743,883 06
$502,975 08
+ $240,007 08
$16,019,691 55
$11,470 ,130 76
+ $ 4 ,549,560 70
7,81 9 ,5 1 6 00
7 ,810,216 00
+ 3 0 0 00
$ 8,200,175 55
$3,650,914 76
+ $ 4 ,549,260 79
$12,188,751 77
$12,646 ,884 88
— $458,133 11
.
$1,059,002 03
$12,188,751 77
$10,687,882 85
The difference in the distribution of revenues and expenses as provided for in the classification of “ OperatingReve
nues” and of “ Operating Expenses,” promulgated by the Inter-State Commerce Commission and made effective on July 1
1907, and in the classification of the Commission in respect of operating expenses in effect prior thereto and observed by
the Company, are such that the income for the year could not be understandingly compared with that of last year except
by a re-statement of last year’s transportation operations under the classification observed this year. Thus re-stated, the
results of the year’s operations, compared with those of last year, are as follows:
In cre a se .
Average miles of rail lines operated— ....................................... ...............
Gross operating revenues and revenues from outside operations.
Operating expenses and expenses of outside operations................. .
Taxes ------------------------------------------------------------------- --------------------------------- Revenue over expenses and taxes---------------------------------------------------- Income other than from transportation operations-----------------------Total surplus------------------------------------------------ ------------------------------------------Fixed charges-----------------------------------------------------------------------------------------Surplus over fixed charges.......... .............................................................. ........
D e crea se .
136.86
$ 1 ,5 4 5 ,4 5 7 06
3 6 7 ,7 8 0 70
4 ,5 4 9 ,5 6 0 70
2 ,3 6 6 ,9 4 0 44
2 ,8 2 4 ,4 7 0 55
$269,373 59
2,18 2 ,6 1 1 35
457,521 11
P ercen t.
2.42
.35
3.8 5
17.71
6.4 0
39.6 6
5.16
30.1 2
1.30
The effect of the general business depression which set in during the fall of 1907 did not reduce the gross revenue of
the Company to an aggregate below that for the corresponding months of the preceding year until January 1908. From
that time to the close of the fiscal year, June 30th, there was a decrease of 84,125,018 80. As there was an increase of
$3,855,645 27 in the gross revenue during the first half year, there was a shrinkage in the year’s gross revenue of only
$269,373 59, or 0 .3 5 per cent.
The details of the transportation revenues and expenses are fully dealt with under “ Transportation Operations.”
The increase of $4,540,560 79 in income other than from transportation operations resulted mainly from the collec
tion of a full year’s dividend on the investment stocks held at the close of last year and on stocks subsequently acquired
under subscription rights, and from a full year’s interest on $20,000,000, face value, San Pedro Los Angeles & Salt Lake
R R . Co. Four Per Cent Bonds. The details of the interest and dividends collected during the year arc shown resnectivelv
in Tables Nos. 16 and 17.
*
J
The interest charges on the funded debt outstanding in the hands of the public are shown in detail in Table No. 15.
The increase of $2,605,291 05 resulted from the interest accruing during the year on the Union Pacific Railroad Company’s
Twenty-Year Four Per Cent Convertible Gold Bonds and on First Lien and Refunding Four Per Cent Gold Bonds sold
during the year.
The expenditures for “ Betterments,” i. e., for enlargements or improvements of the existing roadway, structures
equipment or other facilities, amounted to $1,840,519 33; and the expenditures for “ Additions,” i. e., for additional road
way, structures, equipment, or other facilities not taking the place of anything previously existing, amounted to $3,848,
357 52, a total of $5,688,876 85, which was charged to Capital Account.
From the Trustee of the Union Pacific Railroad Company’s First Railroad and Land Grant Mortgage there was re
ceived during the year the sum of $4,075,000, as shown in detail in Table N o. 18. Under the provisions of the mortgage,
this sum was applied to the payment for betterment, improvements, equipment, &c., not otherwise paid for. The total
sum received from the Trustee to June 30 1908 amounted to $11,327,036 56.
CAPITA L STOCK.
Stocks of the Union Pacific Railroad and Auxiliary Companies outstanding in the hands of the Public at the beginning
of the year, viz.:
&
Dec. 12 1908. j
1541
T H E CHRO NICLE
Common Stock— --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------$105 ,50 8,10 0 00
Preferred Stock---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 9 0 ,550,110 00
--------------------------- $295 ,05 8,21 0 00
Issued during the year—
Union Pacific Railroad Company Common Stock Issued for an equal amount of Oregon Short Line Railroad Company
Capital S to c k ......................................j - ---------- ------------------------------------------------------------------------------------------------------------------------1 0,000 00
$205 ,06 8,21 0 00
Deduction— Stocks acquired but Included In statement of stocks owned by Union Pacific Railroad and Auxiliary Com
panies, viz.
Oregon Railroad &
Navigation Company Common S t o c k .................
Oregon Railroad &
Navigation Company Preferred S t o c k .............................
Oregon Short Line Railroad Company Capital Stock— ........................
100 00
2,600 00
10,000 00
-------------------------------------------------- 12,700 00
Am ount of stocks outstanding In the hands of the Public June 30 1908, viz.
Common Stock-----------------------------------------------------------------------------------------------------------------------------------------------------------------------$ 1 9 5 ,50 8,00 0 00
Preferred Stock.................................. ............................................................................................. .............. ......................................................
9 9 ,547,510 00
----------------------------$295 ,05 5,51 0 00
Decrease during the year.......... ................................. - ...................................................................................... - ..................... - ....................................................................
$2,700 00
The total amount of stocks issued and outstanding and the amount owned by the Union Pacific Railroad and Auxili
ary Companies are shown in detail in Table No. 7.
FUNDED
DEBT.
Bonds of the Union Pacific Railroad and Auxiliary Companies outstanding In the hands of the Public at the beg nlng of the year-------$ 2 0 1 ,06 5,50 0 00
Sold during the year
Union Pacific Railroad Company
Tw en ty-Y ear Four Per Cent Convertible Bonds (dated July 1 1907) Issued under the authority and provision
stated In the annual report for the year ending June 30 1907--------------------------------------------------------------------------- $73,7 6 2 ,0 0 0 00
First Lien and Refunding Four Per Cent Bonds
U . S D ollar.................................... .......................................... ................ .................................................. ..............$17,000 ,000 00
Sterling (full paid, £39 2 ,5 0 0 ).................................................................................................................... ............
1,003,625 00
4,392,942 94
Subscriptions (£ 3 ,6 0 7 ,5 0 0 )_______________________________________ __________________ ______________
--------------------------23,296,567 94
---------------------------- 97,05 8 ,5 6 7 94
$298 ,12 4,06 7 94
Deduction— Oregon Short Line Railroad Company bonds acquired during the year but Included In statem ent of bonds
owned by the Union Pacific Railroad and Auxiliary Companies, viz.
Income " A ” Bonds---------------------------------------------------------------------------------- - -------------------------------------------------------------------------Income " B ” Bonds---------------------------------------------------------------------------------------------------------------------------------------------------------------
$14,000 00
1,000 00
-------------------
15,000 00
Am ount of bonds outstanding In the hands of the Public June 30 1908--------------------------------------------------------------------------------------------------------------- $298,109,067 94
Increase during the year---------------------------- ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
$97,043,567 94
The issue of the “ First Lien and Refunding Mortgage Four Per Cent Bonds” of the Union Pacific Railroad Company
was authorized at a special meeting of the stockholders held at Salt Lake City, Utah, on May 5 1908. The mortgage
authorized the issue, upon its execution, of 850,000,000 of bonds, and provided that the maximum amount of bonds issu
able might be increased to not exceeding the principal sum of 8200,000,000, of which 8100,000,000 should be reserved
to be issued for the purpose of refunding the “ First Mortgage Railroad and Land Grant Four Per Cent Gold Bonds” of
the Union Pacific Railroad Company maturing July 1 1947, and of which the remaining S50,000,000 should be reserved
to be issued for the construction and acquisition of other railroads and property, and for additions, betterments and im
provements as provided for in the mortgage. Under its terms, in order to effect this increase in the amount of bonds
issuable, it was necessary for the stockholders by a majority vote to subject to the lien of the “ First Lien and Refunding
Mortgage” all the railroads of the Union Pacific Railroad Company, with their franchises and appurtenances, subject to
the mortgage securing the “ First Mortgage Railroad and Land Grant Four Per Cent Gold Bonds.” At the annual meeting,
held at Salt Lake City, Utah, on October 13 1908, the stockholders took the necessary action for this purpose. These
bonds are, therefore, now secured by a first mortgage on 1,178.09 miles of main track, 146.03 miles of other track apper
taining thereto, and on equipment, buildings and appurtenances thereunto belonging, and are a lien second to that of the
mortgage securing the “ First Mortgage Railroad and Land Grant Four Per Cent Gold Bonds” upon 2,090.10 miles of main
track, 358.40 miles of second track and 1,007.97 miles of other track appertaining thereto, and on equipment, buildings,
and appurtenances thereunto belonging. The bonds mature June 1 2008 and bear interest from June 1 1908, payable semi
annually on September 1 and March 1. They may be called for redemption by the Railroad Company on September 1
1918, or on any semi-annual interest date thereafter, upon not less than three months’ notice, at a premium of 7]A, per cent.
The discount on 873,702,000 Twenty-Year Four Per Cent Convertible Bonds and 823,296,567 94 face value First
Lien and Refunding Four Per Cent Bonds, amounting to 810,979,721 71, was written off to Profit and Loss.
The First Mortgage Seven Per Cent Bonds of the Utah & Northern Railway Co., amounting to 84.993,000, matured
July 1 1908. Arrangements were made for a reduction of the interest to four per cent per annum and for an extension
of the bonds for a period of twenty-five years.
The total amount of bonds issued and outstanding and the amount owned by the Union Pacific Railroad and Auxili
ary Companies are shown in Table No. 8.
ASSETS A N D
L IA B IL IT IE S .
The assets and liabilities of the Union Pacific Railroad and Auxiliary Companies are shown in Table No. 5. The
securities of the Auxiliary Companies owned by the Union Pacific Railroad Co. and of the proprietary railways which are
operated as an integral part of the system and arc owned by the Union Pacific Railroad and Auxiliary Companies, as well
as all offsetting accounts between the companies, are eliminated, thus dealing only with the securities in the hands of the
Public and the assets due from and the liabilities due to the public.
The increase or decrease in assets and liabilities since last report, briefly stated, is as follows:
Increase In Assets
Cost of railways, equipment and appurtenances as shown In detail under “ Capital Expenditures” _________ __________________________ $ 1 2 ,542 ,757
Stocks and bonds owned; payment or the remaining 7 5 % payable on subscription to $ 1 6 ,200 ,000 par value preferred
stock of the Southern Pacific Company and for tne purchase of stocks and bonds acquired during the year, shown
In detail In Tables Nos. 9, 10 and 1 1 -------------------------------------------- ----------------------------------------------------------------•-----------------$23,346,963 18
Less: Proceeds from stocks and bonds sold as shown In detail In Tables Nos. 9 , 10 and 11 --------------------------------------14,580.672 55
8,7 6 6 ,2 9 0
Loans to Southern Pacific Com pany-------------------------------------------------------------------------------------------------------------------------------------------$42,376 ,389 27
Loans to San Pedro Los Angeles & Salt Lake Railroad C om pany------------------------ ----------------------- -------------------------------------2,575,308 33
44,95 1 ,6 9 7
Expenditures for the construction of new lines and for terminal properties
0,6 0 0 ,5 3 0
Material and supplies_______________________________________________________________
2,3 4 8 ,0 6 6
Current cash accounts______________________________________________________________
433,799
Unadjusted accounts________________________________________________________________
1,138,863
Due from Proprietary Companies___ ______ _______________________________________
440,586
89
63
60
13
24
35
68
52
T o ta l........................................................................................................................................................ ...................................................................................................... $77,222 ,592 04
Deduction—
Decrease In cash on hand.................... ................- ..................... ................- ........................................................... .. ....................... .....................
$3,124,914 24
Rolling stock sold................................ ......... ...................................................................................................................................................................
4 ,245,304 97
---------------------------7 ,370,219 21
Net Increase In assets............................................................... ............................................................................ r ........... .................................................................. $69,852 ,372 83
Increase In Liabilities
Funded d e b t . . . .......... - ........................................................... - ............................................................................... - .................................................. $97,043 ,567 94
Reserve for depreciation and replacement of equipm ent___________________________________________________________________
135,469 44
$97,179 ,037 38
Deduction—
Capital stock---------------------Loans paid off_____________
Current cash accounts____
Reserve funds written off.
$2,700 00
2 7 ,860,574 10
1,011,186 32
9,452,961 32
------------------------
3 8 ,327,421 74
— — --------------------
5 8 ,851,615 64
Increase In assets In excess of Increase In liabilities (gain In Profit and L oss)........ ..................... .............................. ......................................................... $11,000 ,757 19
Under the classification of Operating Revenues and Operating Expenses promulgated by the Inter-State Commerce
Commission in effect since July 1 1907, the reserve funds established in former years for maintenance and renewals are not
available for the payment of extraordinary repairs and renewals growing out of damages by floods and other exceptional
1543
T H E CHRONICLE
[V O L .
L X X X V II.
causes. The sum to the credit of this reserve fund, amounting to $4,774,610 39, therefore, was written off and credited
to Profit and Loss. The reserve funds established in former years for betterments, additions and new equipment, amount
ing to $4,678,350 93, were likewise written off and credited to Profit and Loss.
The Southern Pacific Company is engaged in the construction of railways in the Republic of Mexico under concessions
and subventions which made it important, notwithstanding the monetary stringency which existed last fall and winter,
that the work should be prosecuted without interruption. To provide the funds for this work and for other important
work it was deemed expedient to aid said Company in temporarily financing its expenditures. The sum thus advanced
amounted to $4 5,376,389 27 on June 30 1908.
The state of the account in respect of the cost of the stock of the Northern Securities Company and of the stocks of
the Great Northern Railway and of the Northern Pacific Railway Companies received in the distribution of the assets of the
Securities Company, also in respect of the transactions growing out of the stocks subsequently acquired under subscription
rights and of the proceeds from the sales of these stocks to June 30 1908 is as follows:
Cost of 8 2 4,018 .71 shares Northern Securities Company stock.....................................................
Paid for
7 3 ,5 8 9 .6 0 shares Great Northern Railway Com pany stock___________ . . .
Great Northern Railway Company subscription receipts for 2,600 shares_____
Northern Pacific Railway Company subscription receipts for 34,516 shares...................... .....................'
« 7 9 4 5 9 ,6 0 1
S7 3 58 960 00
’2 8 l ’837 50
2,065)712 50
-------- :---------- 1-------------
'
A m ounts realized from stocks sold:
t>o»,ioo,zui
1 0 0,000 .00 shares Northern Securities Com pany stock------------------------------ ----------- --------------- __
.18
“
Northern Securities Company stubs------------------------------ --------- --------- . . .
'
________
254 ,9 2 3 .8 9
“
Great Northern Railw ay Company s t o c k .- ____________ ___________________
280,7 0 0 .8 2
“
Northern Pacific Railway Company s t o c k . . . ............... ........... ..........................
"
13,200.
“
Great Northern Railw ay Company ore certificates-------------------------------------------Northern Pacific R ailway Com pany subscription receipts for 16,500 shares------------------------------------- .
'
Great Northern R ailway Company subscription receipts for 2 ,0 0 0 .6 0 shares....................................... .................................' . I
36
9,70 6 ,5 1 0 00
00
oS0 01n 4B
’ 56 13
is
54 822 614 97
i ’ o2 i ’ 7 8 9 6 3
l ’ l 7 7 ’ 6l,3 50
’ 2 5 5 ) 9 4 0 98
' --------------- — ------- 134,752 ,984 80
*
’
A m ount realized from sales 'n excess of the total cost of stocks (besides 35,786 shares Great Northern Railway Companv stock 77 164
shares Great Northern R ailw ay Com pany ore certificates, 1,128 shares Northern Pacific Railway Company stock. Northern Pacific
Railway Com pany subscription receipts, 6 2 >4 % paid for 18,016 shares, and 7,429 sharesJNorthern Securities Company stubs still
on hand unsold)..................................... - ........................................................................................................................................................................................................* 4 5,586,783 44
In Table N o. 5 the proceeds from the sales of these stocks are treated as a credit against the cost of stocks and bonds.
The details of the stocks and bonds of the Union Pacific Railroad and Auxiliary Companies are shown in Tables Nos.
7 and 8. From Table N o. 8 it will be seen that the Companies own bonds, unpledged, to the amount of $81,966,500 face
value.
The stocks and bonds owned, other than stocks and bonds of the Union Pacific Railroad and Auxiliary Companies,
stand charged at the close of the year with $218,173,102 44, an increase during the year of $8,766,290 63. The details
of the stocks and bonds owned (pledged or unpledged) and the increase or the decrease during the year are shown in Tables
Nos. 9, 10 and 11.
LAND
DEPARTM ENT.
Under the provisions of the Union Pacific Railroad Company’s First Railroad and Land Grant Mortgage, the net
proceeds from the sale of lands belonging to the Union Pacific Railroad Company after payment of expenses and taxes
appertaining thereto, and all sums of money received on account of interest or principal of the bonds and for dividends
upon the stock of the Union Pacific Land Company, are set apart and held by the Trustee as a Cash Improvement and
Equipment Fund to reimburse the Railroad Company for any expenditures for betterments, improvements, equipment,
or for other properties not paid for out of other funds or charged to operating expenses or cost of maintenance. The
amount received from the Trustee during the year and thus applied was $4,075,000.
The transactions in respect of the above-mentioned lands for the year were as follows:
Number of acres sold-------------------------- ------------------- ----------------------------------------------------------------------------------------------------------------- --------- --------------------------Total amount of sales (cash and principal of deferred payments) after deducting expenses-----------------------------------------------------*954,936 68
Interest on deferred paym ents and other collections............................................ ...............................- ..............................................................
505,281 47
----------------------- —
Average price received per acre.................... .................. .............................................................................. ..................... ........... ...............................................................
Num ber of acres of land remaining unsold June 30 1 9 0 8 .---------------------------------------------------------------------- ----------------------- ----------------- ------------------Estimated value of lands and town lots remaining unsold June 30 1908-------------------------------------------------- --------------------------------------- --------- ---------Land contracts outstanding June 30 1908................................................... ............................ ...................................................................... .................. .......................
752,729 .07
*1 ,4 6 0 ,2 1 8 15
1.94
1,338,059.21
*1,3 8 1 ,9 7 6 76
*7,0 9 5 ,6 2 5 81
The details of the year’s transactions and the account with the Trustee in respect of said funds are shown in Tables
Nos. 18, 19, 20 and 2 1.
CAPITA L E X P E N D IT U R E S .
The charges to capital account, other than for stocks and bonds in companies other than the Union Pacific Railroad
and Auxiliary Companies, were as follows:
Expenditures for account of the constructon of railways taken over Into cost of railways, equipment and appurtenances
.
Cost of railways purchased In excess of amount lncuded In previous reports under cost of railways, equipment and appurtenances, viz :
Leavenworth Kansas & W estern Railw ay------------------------------------------------------------------------------------------------------------ --------- -------*373,309 95
Topeka & Northwestern Railroad..................................................................................................... ..................................... ................ ...........
312,916 92
Expenditures for account of extensions and cost of extensions transferred from free assets, viz.:
Union Pacific Railroad Com pany:
Cedar Rapids to Spalding, Nebraska.........................................................................................................................
O ’Fallon’s to Nortnport, Nebraska........ ....................... .............................................................................................
St. Vraln‘s Junction to Grant Mine, Colorado................................................... ..................................................
Stromsburg to Central C ity, Nebraska.....................................................................................................................
Thayer to Horse Thief Canon, W yom in g.......... ...................................................................................................."
6 86 ,226 87
$165,920
1,449,693
63,241
494,871
291,091
85
19
27
71
88
Expenditures Oregon Short Line Railroad Company:
Kemmerer to North Kemmerer, W yom in g_____________________ ____________________________________________
Expenditures Oregon Railroad & Navigation Company
Elgin to Joseph, Oregon--------------------------------------------------------------------------------------------------------------------------* 2 6 9 ,6 5 7 30
Less credits:
St. John’s Extension, Oregon................. ................................................................................ *103 17
St. John’s to Troutdale, Oregon ................................................................... ....................... 1,333 48
Lewiston to Grande Ronde R iver, Idaho.................................... .............. ........................
977 80
2,4 1 4 45
Expenditures for Additions and Betterments, Table N o. 2 5 , viz.:
Ballasting---------------------------------------------------------------------------- ------------------------------------------------------------------------Bridges, trestles and culverts---------------------------------------------- - .................................................................................
Station buildings, terminal yards, shops and other buildings---------- --------------- --------------------------------Real estate----------------------------------------------------------------------------------------------------------------------------------------------------Fencing, telegraph lines and shop machinery.................... ........... .................. ................................................... ..
Additional side and passing tracks............. ................................................. ........................................................... ..
Additional main track-------------------------------------------------------------- ................ ...................................................... —
Changes In line, reducing grades and widening em bankm ent........ ........... .............................................—
Interlocking and block signals------------------------------------------------------------------------------------------------------------------W ater supply and pipe lines. ---------- -------------------------------------------------------------------------------------------------------Additional cost of equipment added during the preceding fiscal year.....................................................
Equipment transferred from deferred assets, viz.:
168 locom otives.
45 p assen ger train c a r s .
1,457 fre ig h t train c a r s -------
$38 ,013 87
$ 2 ,4 6 4 ,8 1 8 90
2 06 .626 33
267 ,242 85
2 ,9 3 8 ,6 8 8 08
*1 9 ,2 1 2
5 88 ,735
884 ,979
233 ,225
149,902
2 70 ,897
1,80 0 ,6 4 4
76 9 ,9 6 9
874 ,052
7 5,284
21,971
70
25
73
42
96
37
72
35
36
28
71
$ 2 ,7 6 1 ,0 4 5 02
4 26 ,087 73
3 ,9 2 3 ,6 5 8 00
A d ju s t m e n t In a m o u n t d e d u cte d fro m c o s t o f ra ilw a y s , e q u ip m e n t and a p p u rte n a n ce s o n a c c o u n t o f th e d ifferen ce b e tw e e n th e fa c e v a lu e
o f s to c k s an d b o n d s o f a u x ilia ry co m p a n ie s a n d th e p r ice a t w h ich th e y w ere ta k e n o v e r -------------------------------------- -----------------------------------Im p r o v e m e n ts t o N o rth e rn P a cific T e rm in a l p r o p e r t y an d P ln ts ch Gas P la n t, P o r tla n d , O re g o n .........................
.
.
A d ju s t m e n t In a c c o u n ts ta k e n o v e r u n d er re o r g a n iz a tio n .................................................................................
.
•
5 .6 8 8 ,8 7 6 85
7 ,1 1 0 ,7 9 0 55
2 6 ,0 2 5 06
2 9,376 42
100 ,152 85
T o t a lc h a r g e s ..................................................................................................................................................... .............................................................................. $ 1 6 ,6 1 9 ,0 5 0 55
C reditsA m o u n t r e ce iv e d fro m T ru stee o f U n ion P a cific R a ilro a d C om p a n y F irst M ortg a g e 4 % B on d s In p a y m e n t f o r e x
p e n d itu re s fo r b e tte rm e n ts, im p ro v e m e n ts , e q u ip m e n t, & c., n o t oth erw ise p r o v id e d f o r . - .....................................
* 4 ,0 7 5 ,0 0 0 00
P ro ce e d s fr o m sales o f p r o p e r t y .......................................................................................................................................................... ..................
1,292 66
------------------------ —
4 ,0 7 6 ,2 9 2 66
N e t e x p e n d itu re s f o r ca p ita l a c c o u n t .................... ....................... .................. .............................. - ..............................................................................
The details of the expenditures for additions and betterments are shown in Tables Nos. 25 and 26.
* 1 2 ,5 4 2 ,7 5 7 80
1543
T H E CHRONICLE
Dbo. 12 1908.]
A D D IT IO N S A N D B E T T E R M E N T S .
.
The expenditures for Additions and Betterments amounted to §5,088,87(5 85 and were charged to capital expenditures.
The details of these expenditures are shown in Table N o. 25. The changes in line completed or in course of construction,
and other principal additions and betterments to the roadway, track and appurtenances were as follows:
M axim um Grade, Feet per M ile.
New Lines.
M iles
Con
structed.
Distance
Saved.
M iles.
13.30
3.74
1.17
1.37
14.75
13.17
.75
.01
.07
.12
.40
.82
17.48
.02
.08
.18
Union Pacific Railroad Company—
Carr, Colorado, to Borle, W y o m i n g - .- .............
Carr, Colorado, to Cheyenne, W y o m in g --------Green River to Granger, W y o m in g ...................
Point of Rocks to Rock Springs, W yom ln g.
Kausas City to Topeka, K ansas...........................
Oregon Railroad & Navigation Company—
H ood River, Oregon...................................................
Pendleton, Oregon .....................................................
Trautdale to Bonneville, Oregon............... .........
‘ Descending grades tor the entire distance.
Date Opened
for Business.
New Line.
Old Line.
Changes in Line.
Saving in
Curvature.
Degrees.
West
Bound.
East
Bound.
West
Bound.
East
Bound.
671.43
492.10
13.40
2.00
2.00
95
95
43
53
79
84
84
43
53
79
63
63
43
43
19
53
43
43
19
O ct.
June
42
27
42
27
42
26
42
26
A u g. 1907
March 1908
In p rogres
Oregon
Short Line
Railroad
Company.
Oregon
Railroad &
Navigation
Company.
40.00
1 1 0 .0 0
1
1,455.00
Union
Pacific
Railroad
Company.
Total.
Roadway, Track and Appurtenances.
In progress
1906
1906
8 .2 2
6 .0 0
8 .2 2
6 .0 0
14.22
14.22
2,3 7 1 .9 0
508.00
198.60
1 ,695.30
824.00
508.00
28.00
256.00
4 93.90
1,054.00
95.60
393.30
75.00
1 ,046.00
4 ,7 7 3 .8 0
1,616.00
982.80
2 ,175.00
2,3 6 6 .9 0
135.00
986.00
824.00
115.00
986.00
493.90
1 ,049.00
2 2 1 .0 0
2 2 1 .0 0
3 ,708.90
2,1 4 6 .0 0
288.00
18.00
168.00
3,0 0 5 .0 0
117.00
20,253.00
109,747.35
1.63
5,692.53
121.87
89.01
14.08
8.55
288.00
18.00
93.00
2 ,597.00
15.00
4,4 3 3 .0 0
4,7 2 5 .0 0
1.63
3.4 8 1 .0 0
121.87
05.28
9.01
1.04
.2 2
.2 2
Lineal feet of wooden stiuctuics replaced with c n l v e i t s -------*■
Lineal feet of steel structures built replacing em bankm ents^--------------------------------------Lineal feet of steel structures replaced with heavier s t r u c t u r e s -----............. ................
Lineal feet of I beam concrete overhead highway structuics^-. - - - - - - ----------------------Lineal feet (traversely to track) stone, conciete, oi brick aich cult c i t s --------------- ----------------- -
*
493.90
1,069.00
258.00
75.00
150.00
1 0 2 .0 0
13.402.00
9 6 .501.00
2 ,4 1 8 .0 0
8,5 2 1 .3 5
1,301.53
13.34
4.39
2.80
.6 8
4.71
199.00
226.43
50
i
308.00
15.00
501.46
118
926.89
168
3
1,653.20
15.00
Miles of additional telegraph and telephone line (poles, wire and fixtures) constructed-----------------
2 0 .0 0
2
1 ,297.20
48.00
E Q U IP M E N T
‘ Charged to Operating Expenses.
The changes in the equipment during the year were as follows:
Condemned,
Destroyed, Sold
or Transferred
and Credited to
Replacem’t F ’nd,
Locomotives
Am ount credited or charged
4
16
Union Pacific
Equipm’ t A ss’ n.
Free
Assets.
Capita I
Account.
6
3
3
1
32
•1,698
•227
4
1,054
56
302
5606,093 47
35
6
2,943
11
200
1
100
•250
............................
•70
............................
70
—
22
•30
522
403
10
$734,459 12
$7,329,880 24
_________
*1 6 6 " ' "
lo o ’ " '
------------- --------AU
3
11
1
15
6
36
41
252
...........................
5
5
•3
7
*5
•19
•7
4
696
15
35
71
249
4
5
84
144
14
5
1
1
2
53
•1
2
—
Total.
•33
•93
175
1
Baggage c a r s --------------------------------------Baggage and mall c a r s ----------------------Baggage and passenger cars--------------Baggage, mall and passenger cars -
Business c a r s --------------------------------------Chair-cars_____________________________
Dining cars __________________________
Instruction c a r s ---------------------------------M otor-cars_____________________________
Observation c a r s ............... - .............. - -
Passenger c a r s ...........................................
P o sta ljca rs-----------------------------------------Box c a r s _________________________________________________
Caboose cars ____________________________________________
Flat cars --------------------------------------------------------------------------Furniture c a r s __________________________________________
Gondola cars — --------------------------------------------------------------Gondola cars (drop bottom) ----------------------------------------Gondola cars (hopper b o t t o m ) ------------------------------------Refrigerator cars — ..................................................................
Stocklcars .............................................................- - ..................
***>• 4
W o rk jeq u lp m en t-------------------------------------------------------------
Added and Charged to
Replacement
Accounts.
— ..................2
835
•100
•$3,755,634 92
$3,257,531 71
•$1,040,172 73
’ riT iocom otivcs added during the year averaged 97.40 tons total weight of engine without tender and S4.29 tons
upon drivers. The freight train cars added during the year averaged 50 tons capacity.
1
The locomotives and cars owned and their capacity at the close of the year were as follows.!.
Locomotives, standard gauge
“
narrow gauge .
Total (.Standard Gauge.)
Total weight, excluding tender (tons).......... ..........................
Average total weight, excluding tenders (tons)..................
Total weight on drivers (tons).............- ...................................
Average total weight on drivers (tons)..................................
Passenger train cars, standard gauge.
“
“
“
narrow gauge . .
This Year.
Last Year.
1,087
1
1,050
1
1,088
1,051
Per Cent-
89,701
82.52
73,980
68.06
85,419
81.35
70,109
66.77
4,282
1.17
3,871
1.29
5.01
1.44
5.52
1.93
702
1
642
1
60
9.35
9.33
703
Freight train cars, standard gauge
••
“
•• narrow gauge
25,482
25,371
6
25,377
T o t a l -------Total capacity of standard gauge cars ( t o n s ) --Avcragc capacity of standard gauge cars (tons).
W ork equipment
901,862
36.01
864,955
34.64
36,907
1.37
2,929
669
4.27
3.95
22.84
1544
T H E CHRONICLE
[V O L .
Ihc equipment ovvned by tlxe respective companies is shown in Table No. 24.
pacity, and the service of all equipment are shown in Tables Nos. 29, 30 and 31.
L X X X V II.
The changes during the year, the ca
T R A N S P O R T A T IO N O P E R A T IO N S.
,
?r01 ^ 1<: PurP°se °f comparison, the revenues and expenses of this year are re-stated in the following tables under the
classification in effect last year, deducting however from the expenses of last year such expenses as were then included
m the operating expenses but which are this year charged to income account, also adjusting last year’s expenses to the
primary accounts ot this year s classification as far as practicable.
J
1
follows-US re" statcd th° rosults of the year’s transportation operations,compared with those of the preceding year, are as
Year Ended
June 30 1908.
Average miles of rail lines operated_______
Year Ended
June 30 1907.
5,781.41
Revenues— •
Passenger, Including extra baggage_______
Mall and express __________________________
F reig h t______________________________________
Switching, rentals, and all other sources.
$10,641,467
3,956,151
52,899,157
926,000
Total rail lines-----------------Outside operations— revenue .
$74,422,770 81
1,616,448 10
$76,039,224 91
Total revenues.
Operating Expenses—
Maintenance of way and structures
Maintenance of equ ipm ent____
Conducting transportation_________
General expenses_____________________
$8,898,300
7,991,447
21,214,178
2,073,588
Total rail lines__________________
Outside operations— expenses_______
67
20
66
28
54
19
96
93
$40,177,515 62
1,516,519 67
Total expenses__________________
$14,912,508
4,143,581
54,809,073
790,988
Decrease.
136.86
37
72
72
30
$1,728,959 30
$187,430 52
1,909,916 06
11.59
4.52
3.48
17.07
$74,656,152 11
1,652,446 39
$233,375 30
35,998 29
0.31
2.18
$76,308,598 50
$269,373 59
$10,022,748
7,867,080
18,780,079
1,958,191
1 3 5 ,0 li ‘ 98
32
64
56
20
$1,549,415 90
$1,545,457 06
$41,094,035 29
$40,148,578 23
$34,345,189 62
$36,160,020 27
Passengcr Traffic—
Revenue passengers carried___________________________________
Revenue passengers carried one m ile________________________
Revenue from passenger trains per mile of road____________
Revenue from passenger trains per revenue train mile____ *
6,450,286
760,532,906
$3,562 73
$1 71
5,663,828
680,278,509
$3,376 02
$1 77
Freight Traffic (W ay-bill Tonnage) —
Tons of revenue freight carried_______________________________
Tons of revenue freight carried one m ile------------------------------Revenue per mile of road_____________________________________
Revenue per revenue train m ile____________________________ %
13,089,163
5,271,939,813
$9,149 87
$4 31
14,089,649
5 ,704,061,535
$9,710 09
$3 89
$1,124,447 78
$124,366 55
2,434,099 40
115,397 73
$38,628,099 72
1,520,478 51
Gross revenues over total cxpenscs.
•Revenue passenger train and all mixed train miles.
Increase.
5,644.55
$3,958 84
11.22
1.58
12.90
5.89
4.01
0.26
3.85
$1,814,830 65
5.02
$0 06
13.89
11.80
5.53
3.39
786,458
8 0 ,254,397
$180 71
1,000,486
432,121,722
$560 22
$0 42
7.10
7.58
5.77
10.80
x Revenue freight train and all mixed train miles.
The following statement shows the increase in the Company’s revenues and service during the first half year and the
°
J
n Irn crp p n i i s p r
h v t h o . armor/i
h iia in f».Q a r o n v n o c
4.u~ _________ i i. n*
Gross
Revenue.
Tons
of Revenue
Freight
Carried.
Tons
Revenue
Freight
One M ile.
Locomotive
M iles in Rev
enue jercignt
Service,
Including
M ixed.
Passengers
Carried.
Number
of
Passengers
One M ile.
Locomotive
M iles in Rev
enue Passen
ger Service,
Including
M ixed.
Number
or
Six months ending Dee. 31 1907_______
Six months ending Dec. 31 1906_______
$42,919 ,295 84
39,063,650 57
7,751,263
7,237,099
3,065,584,431
2 ,851,997,966
8,237,359
7,687,492
3 ,470,230
2,933,135
431,603 ,877
361,092,813
6,511,477
5,660,359
Increase --------------------------------------------------Six months ending June 30 1908_______
Six months ending June 30 1907 ______
$3,855,645 27
9.87
33,119,929 07
37,244,947 93
514,164
7.10
5,337,900
6,852,550
213,586,465
7.49
2,206,355,382
2 ,852.063,569
549,867
7.15
5,348,964
8,085,844
537,095
18.31
2,980,056
2,730,693
70,511,064
19.53
328,929 ,029
319,185 ,696
851,118
15.03
6,103,849
5,584,652
Increase _________________________________
D ecrease--------------------------------------------------Per cent________ __________________________
$4,125,018 86
11.08
249,363
1,514,650
22.10
645,708,187
22.64
2,736,880
33.85
9,743,333
519,107
9.13
3.05
9.30
. The transportation revenues and operating expenses for the year distributed among the respective primary accounts
provided lor in the classification ot the Inter-State Commerce Commission are shown in Table No. 27. The details of
passenger and freight traffic are shown in Tables Nos. 28 and 29.
The rail lines were operated for 53.99 per cent of their gross revenue, against 51.74 per cent in 1907. The average
for both rail and water lines, including outside operations, was 54.83 per cent, against 52.(31 per cent in 1907. Exnenses
tor maintenance were 22.09 per cent and for ‘ 'operations” 31.30 per cent of the gross revenues of the rail lines.
Ihc increase of 8 1 ,545,457 0(3 in the operating expenses resulted entirely from the increase in expenses during the
^ Rwnths ended December 31 190 1 . In the six months ended June 30 1908 there was a decrease in operating expenses of
$3,4o2,584 35. _ I he increase in the first half-year resulted from the expenses incident to the greater amount of traffic
m oved, winch, in the preceding year had already reached proportions where it exceeded the limit of handling it economicallv
from the greater cost of fuel and other material, from the higher wage schedules, and from the expenses of rebuilding the
s p r i n Sof Too1? 81011118 t0 ^
iormGT standard tho r°adway damaged by the disastrous floods and heavy snow-storms in the
In the following statements the expenses have been combined under accounts which present them concisely and com
paratively with last year.
J
M A IN T E N A N C E OF W A Y A N D S T R U C T U R E S .
This Year.
Repairs of roadway and tr a c k -.
Bridges, trestles and culverts_______
T i e s _____________________________ ______
Ralls, frogs, switches and fasteningslll
Buildings, grounds and appurtenances
Snow and sand fences and snow s h e d s ..
Superintendence___________________________
Stationery and p rin tin g_________________
$3,720,408
499,316
2,192,853
716,315
1,390,806
14,340
350,632
13,617
Total
.
.
51
77
63
55
47
53
46
62
$ 8 ,898,300 54
1
w
Last Year.
$ 4 ,802,706
670,020
1,856,416
982,674
1,288,399
21,687
384,802
16,040
39
60
87
62
06
76
73
29
$336,436 76
’ T02V40V 4 i
266,359 07
7,338 23
34,170 27
2,422 67
$10,022 ,748 32
ilbty HI tut/ ctVUIcli^U t-Ubl HI
$1,082,297 88
170,703 83
$1,124,447 78
11 vsHI UU VA ILLS b(
tie, an increase ol 12.12 per cent, and from the greater number of ties put into the track.
cents per
Ihc following rails, ties, tie-plates and continuous rail joints were used in making renewals, and the entire cost thereof
charged to operating expenses.
!
Miles of new steel rails__________________________________________
Per cent of renewals of all rail In track, Including sidings.
Num ber ot burnettlzed ties
____ __
Num ber of other ties
Total number of ties___ I . I I I I I I I I I I I H I I I I _ _ ............Z___ II
Equal to miles of continuous track____________________________
Per cent of renewals of all ties In track, Including sidings.
Num ber of tie-plates_____ ___
_______________
Equal to miles of contlnouus" track............. .................. " T I
Num ber of continuous rail Joints
’
This Year.
Last Year.
215.00
2.65
1,165,988
1.204,857
2,370,845
844.62
10.39
2,404,506
428.31
113,567
287.70
3.74
1,558,993
623,898
2,182,891
765.12
9.95
3,181,541
557.58
150,061
4- increase.
— Decrease.
— 72.70
— 1.09
— 393,005
4-580.959
4-187.954
4-79.50
4 -.44
— 777.035
— 129.27
— 36,494
Dec. 12 1908.]
1545
THE CHRONICLE
The weight of rails per yard in main lines and branches at the close of the year were as follows:
M iles of M ain and Second Track Operated, Excluding
Mileage Operated under Trackage Eights.
Total.
Main and second track__________________________________ 3,928.15
2,405.67
Branches_______________________ _____________________
Total__________________________ .-1----------- ------------------ 6,333.82
100.00
Per cent of total miles of track----------------------------------------100.00
Per cent last year_______________________________________
90-16.
85-16.
670.00
.02
670.02
10.58
8.44
80-16.
40.64 1,646.74
.04
40.64 1,646.78
.64
26.00
.68
27.68
67-16.
70-16.
75-16.
481.96 1,018.32
125.40 319.57
607.36 1,337.89
9.59
21.12
22.28
8.22
Less
than
56-16.
56-16.
66.25
3.93
27.94 1,109.46
.14
585.47
.17
237.77
31.87 1,175.71
18.56
.50
18.89
.64
585.61
9.25
8.87
237.94
3.76
4.30
60-16.
Expenditures for maintenance of way and structures averaged $1,450 71 per mile of main and second track, against
$1,707 71 for the preceding year.
At the timber-treating plants of the Companies, 2,068,015 cross-ties and 68,366 switch-ties were burnettized and
157,173 cubic feet of piling and other timber were creosoted.
MAINTENANCE OF EQUIPMENT.
This Year.
$3,010,369
684,603
8,009,018
80,600
318,118
274,808
613,928
Locomotives____________
Passenger train cars.......... .
Freight train cars________
Work equipment________
Shop machinery and tools.
Superintendence_________
Other expenses__________
Last Year.
25
26
70
38
26
78
56
$2,792,495
697,473
3,129,943
139,330
355,875
240,276
511,686
$7,991,447 19
Total
Decrease.
increase.
76
53
84
37
04
07
03
$217,873 49
$12,870
120,925
58,729
37,756
34,532 71
102,242 53
$124,366 55
$7,867,080 64
27
14
99
78
The increase in repairs of locomotives resulted from the greater number of locomotives in service during the' first half
of the fiscal year.
The companies have not made any charge for “ Depreciation” of equipment as contemplated by the Inter-State Com
merce Commission’s new accounting regulations, but, as in the past, have charged to operating expenses the record value
(as appraised at the time of the reorganization) less salvage, of all equipment condemned, destroyed, sold or vacated from
any cause during the year.
#
The average number of serviceable locomotives and cars owned and the average cost of repairs (including renewals),
per locomotive and per car, per annum, were:
Average Serviceable Number. Average Cost per A nnu m .
Including Charge for Locomotives and Cars Condemned, Destroyed or Sold.
This Year.
Last Year.
This Year.
1,073
680
25,545
955
623
23,952
$3,068 90
1,036 64
113 22
Last Year.
$2,932 92
1,092 31
126 87
The equipment owned by the respective companies is shown in Table No. 24, and the capacity, the service and the
average cost of maintenance are shown in Tables Nos. 29, 30 and 31.
CONDUCTING TRANSPORTATION.
This Year.
$6,582,429
3,886,893
2,867,820
4,942,958
1,170,976
682,783
441,500
638,816
Locomotives, fuel for___________________
Locomotive service, other than fuel______
Train service____________________________
Station and terminal service_____________
Injuries, loss, damage and other casualties.
Superintendence_________________________
Mileage payments.......... .................... ..........
Advertising and printing___________ ____
. East Year.
52
22
00
74
37
42
93
76
$5,169,701
3,832,532
2,803,607
4,521,159
960,038
609,990
380,389
502,660
$1 ,412,727
54,360
64,212
421,799
210,937
72,793
61,110
136,156
$18,780,079 56
$21,214,178 96
Total
Increase.
56
30
30
24
85
02
95
34
96
92
70
50
52
40
98
42
$2,434,099 40
The increase in these expenses has been principally in fuel for locomotives, resulting from the greater cost of coal and
of fuel oil. The increase in station and terminal service resulted from the expenses incident to moving the increased traffic
in the first half year, from higher wage schedules and from an increase in the number of employees made necessary by
the laws regulating the hours of labor. The increase in injuries, loss and damage and other casualties resulted principally
from the payment of claims growing out of the congested traffic conditions in the spring of 1907.
The work done by the transportation department of the rail lines is shown in the following table:
+
hr
Gross operating revenues________________________________________________________________________________________________________________
Expenses conducting transportation_____ __________________________________________________ ___________ _____________________ ______
Revenue passengers carried one m ile______________________________________________________ __________________________________ ________
Mileage of passenger cars
_
________
_ _ _ _ _ _ _
Locomotive mileage with passenger trains, Including helping
_________________________
_______________________________________
Tons ot revenue freight carried one m ile___________________
Tons of revenue and company freight carried one m ile____ __
____________________________ ________ ___________ _________________
Mileage of freight cars_______
_.
_________________________
________________ _
________________________________
Locomotive mileage with freight and mixed trains, Including helping________ _ _
____
___________ _______ _______
Total locomotive mileage In service for which the attendant expenses are charged to "Conducting Transportation” _______
In c. or —
Dec.
— $233,375 30
+ 2,434,099 40
+ 8 0 ,2 5 4 ,3 9 7
+ 3 ,766,488
+ 570,554
— 432,121,722
— 408,721,492
— 36,502,841
— 2,187,013
— 1 ,683,549
P . C.
0.31
12.96
11.80
5.25
5.32
7.58
6.11
8.63
13.87
5.38
The average number of tons of freight per train, and loaded cars per train (excluding caboose), and the tons per loaded
car for the respective companies for the year were:
* Tons per Train.
Loaded Cars per Train.
Tons.
Per Cent.
Cars.
Per Cent.
506.76
526.27
514.71
+ 50.82
—3.76
+ 37.63
11.15
0.71
7.89
23.97
20.40
20.63
+ .67
— .47
— .20
2.88
2.25
.96
73.61—3.88
71.92— .74
82.91—1.15
21.14
25.79
24.95
+1.57 •
+ .39
+ 2.05
8.02
1.54
8.95
Average all lines_____
512.07
+37.10
7.81
22.74
+ .30
1.34
74.30—2.86
22.51
+ 1.35
6.38
+ Increase.
— Decrease.
+ Increase.
— Decrease.
Tons.
Union PacIOc RR.................................
Oregon Short Lino RR.........................
Oregon Railroad <5c Navigation______
Tons per Loaded Car.
Per Cent
of Loaded Car
Mileage
To Total Car
M ileage.
Revenue and Company Freight
( W ay-Bill Tonnage).
Cars.
+ Increase.
— Decrease.
Tons.
P ercen t.
Tons.
• Ton miles per revenue freight train and all mixed train miles.
The cost of fuel for locomotives per locomotive mile in revenue service and in non-revenue service for which the ex
penses are charged to “ Conducting Transportation” was 22.239 cents per mile run against 16.524 cents in the preceding
year and for the entire expenses for conducting transportation 71.674 cents, against 60.040 cents in the preceding year.
GENERAL EXPENSES.
Salaries and expenses of general officers.......................................................................
Salaries and expenses ot clerks and attendants...................... _ .........................................
Law expenses_____ ______ _________________
_____________
___________
General office expenses_____________ ______
______
.
______ _
Stationery and printing___________________ . .
In su ran ce_________________________________
Other expenses___________ ____ ____ ____ _ _
T o t a l _____________________ __________________
T h is'Y ear.
Last Year.
$302,543
930,005
238,102
103,852
139,649
161,615
197,820
$272,850
775,740
268,657
99,226
94,224
207,637
1239,854
10
03
24
44 ;
81
45
86
$2,073,588 93
38
18
10
89
19
71
75
$1,958,191 20
Increase.
Decrease.
$29,692 72
154,264 85
$30,554 86
4 ,625 55
* & 4 5 ,425 62
r
v*'
$115,397 73
46,022 26
42,033 89
T H E CHRONICLE
1546
[V O L .
L X X X V II
GENERAL.
The delivery of the remaining 3,000 refrigerator cars for the “ Pacific Fruit Express Company,” referred to in the
last annual report, was completed during the year, and the Company now has G,G00 cars in service. The paid-up capital
stock of the Company is $ 10,800,000, paid for by the Union Pacific Railroad Company and the Southern Pacific Company)
one-half each.
In addition to the completed lines of railway reported under “ Properties and Mileage,” construction, temporarily
suspended during the business depression, is progressing on the lines of the following companies, or of companies organized
xn their interest, v iz .:
U nion P a c ific R a ilro a d . — Of the remaining 5 2 .G3 miles of the projected line from Hershey to Northport, Nebraska,
51.17 miles were graded ready for track. Grading on the extension of the Topeka & Northwestern Branch from Onaga
t> Marysville, Kansas, was completed on 13.13 miles, and is in progress on the remaining 19.18 miles.
N orthiv ester n R a ilro a d . — On this line from Blake’s Spur northward to Homestead, Oregon, a distance of 58 miles,
grading was completed on 28 miles, and partly completed on 5 additional miles.
Oregon R a ilro ad & N a viga tion . — On the extension of the Elgin Branch from Elgin to Joseph, Oregon, 1G.20 miles
were completed; the grading was completed on 39.80 miles, and was progressing on the remaining 6.30 miles.
Oregon W ashington cfc Idaho R a ilro a d . — The line of this Company between Lewiston Junction, Washington, and Lewis
ton, Idaho, 72.30 miles, was completed and opened for traffic on July 7 1908.
Ilwaco R a ilro a d . — An extension from Holmans to Meglers, Washington, a distance of 13.39 miles, was completed
and opened for traffic on June 1 1908.
•
The Insurance Fund shows a loss in the year’s transactions of §75,570 52, the result of a reduction in the rate of
premium on the insurance carried by the Company, and of an increase in payments of premiums to outside companies.
Tne operations of this fund from its commencement to June 30 1908 are shown in Table No. 23.
Under the pension system put into effect by the Companies on January 1 1903 there are carried on the pension rolls
10G employees. The payments to them for the year amounted to 827,143 25.
The receipts of the Hospital Fund for the year amounted to $192,947 48; the expenses were $187,476 45, leaving a
8 irplus of $5,471 03. The accumulated surplus on June 30 1908 was $81,878 G3. This fund is maintained by monthly
contributions from the employees of the Companies.
The accompanying report of the Comptroller shows in detail the property of the Union Pacific Railroad and Auxiliary
Companies, and their combined financial and other transactions.
B y order of the Board of Directors,
E . H. HARRIM AN,
President.
NO. 2 — IN C O M E F R O M T R A N S P O R T A T IO N O P E R A T IO N S Y E A R E N D E D JU N E 30 1008.
Operating expenses and expenses of outside operations as
shown In detail In Table N o. 2 8 ____________________________ $41,694,035 29
2,444,725 87
T a xes_____________________________________________________________
itu
$44,138,761 16
Total expenses and taxes.
Interest on bonds In hands of public as shown In Table No
te«15______________________________________________________________
Sinking fund requirements-------------------------------------------------------Hire of equipment______________________________________________
Balance of rentals for lease of road------------------------------------------Dividends on preferred stock of Union Pacific R R . C o.:
2 % paid April 1 1908.......... ................... ........................................
2 % payable October 1 1908---------------— - - - - - - - - - ----------Dividends on common stock of Union Pacific R R . C o.:
1 'A % paid January 2 1908-------------------------------------------------fc, 1 )4 % paid April 1 1908-------------------------------------------------------> \ y*% payable July 1 1908---------------------------------------------------* 1 )4 % payable October 1 1908-------------------- ........................—
Dividends on preferered stock of Oregon R R . & Navigation
C o., In hands of the public:
2 % paid January 2 1908............... .............................................
2 % paid Ferbuary 20 1 9 0 8 . . ...................................................
Balance to profit and loss (N o. 4 ) . . ............................................
11,245,899
12,013
1,487,123
14,828
Gross operating revenue and revenue from outside operatlons as shown In detail In Table N o. 2 8 . _____ _____________ $76,039,224191
Balance of rentals from Joint tracks, yards and terminal
fa cilities.................................. ..................... _ . ......................................
510,301184
Balance of miscellaneous rentals______________________________
48.800.80
39
33
40
14
1.990.882 00
1.990.882 00
2.932.318
2.932.318
2.932.318
2.932.318
50
50
50
50
47 00
47 00
3,988,576 22
$76,508,333 64
$76,598,333 64
NO. 3 .— IN C O M E O T H E R T H A N FR O M T R A N S P O R T A T IO N O P E R A T IO N S Y E A R E N D E D JU N E 30 1008.
Interest paid on loans and on open accounts
other than with Auxiliary Companies-----------$1,033,934 72
Less interest collected----------------------------------------493,708 99
$540,225 73
203,657 33
Miscellaneous expenses--------------------------------------------------------Dividends on common stock of Union Pacific R R . Co.:
1% paid January 2 1908------------------------------------------------1 % paid April 1 1908------------------------------------------------------1% payable July 1 1908............... .............................................
1% payable October 1 1908--------------------------------------------Balance to profit and loss (No. 4 ) ................................ ..............
1.954.879
1.954.879
1.954.879
1.954.879
8,200,175
00
00
00
00
55
Interest on bonds owned of companies other than Oregon
Short Line and Oregon R R . & Navigation Co. (Table
N o. 16)___________________________________________ ___________
$1,143,063 81
Dividends collected or declared on stocks owned of com
panies other than Oregon Short Line and Oregon R R . &
Navigation Co. (Table N o. 1 7 )_____________________________
15,370,873 50
Rental from steamships________________________________________
249,131 60
Income from unpledged lands and town sites________________
505 70
$16,763,574 61
$16,763,574 61
NO. 4 .— P R O F IT A N D LO SS FO R T H E Y E A R E N D E D J U N E 30 1908.
Discount and commission on $73,762,000 face value Twenty
Year 4 % Convertible Bonds and $23,296,o67 94 face
value First Lien and Refunding 4 % Bonds sold and deBalance
of
adjustment
In
charges
Balance June 30 1908, viz.:
Income account_______________________
® Sinking funds_______ ______ ___________
for
depreciation
$10,979,721 71
of
33,569
19,7 U
6,770
10,889
.
65
31
00
82
$63,027 ,695 43
950,883 37
63,978,578 80
$75,029,241 29
Balance June 30 1907............... - ........................................................... $52,077,821
Balance Income from transportation opera
tions (No. 2 ) ---------------------------------------------- -.$ 3 ,0 8 8 ,5 7 6 22
Balance Income other than from transporta
tion operations (No. 3 ) _____________________ 8,200,175 55
12,188,751
Sinking fund contributions and Income from sinking fund
I n v e s t m e n t s ----------------------------------------------------------------------------21,795
167,773
Profit from sale of securities------------------------------------------------------Reserve fund for betterments, additions and new equip
ment written o f f ........................................................ .. ...................... • 4,678,350
Reserve fund for maintenance, renewals, & c., written off___ • 4,774,610
200,000
Contingent liabilities written off__________________________
6,434
.Miscellaneous c o lle c tio n s ______________________ : _______________
8,029
A d ju s tm e n ts In a c c o u n t s ______________________________________
5,673
P ro ce e d s fro m sale o f u n p led ged lands an d to w n s ite s _______
61
77
89
09
93
39
00
28
84
49
$75,029,241 29
* Under the classification of Operating Revenues and Operating Expenses promulgated by the Inter-State Commerce Commission In effect since
July 1 1907, the reserve funds established In former years for maintenance and renewals are not available for the payment of extraordinary repairs and
renewals growing out of damages by Hoods and other exceptional causes. The sum to the credit of this reserve fund, amounting to $ 4 ,7 7 4 ,6 1 0 .3 9 , there
fore, was written off and credited to Profit and Loss. The reserve funds established In former years for betterments, additions and new equipment,
amounting to $ 4 ,678,350 93, were likewise written off and credited to Profit and Loss.
1547
TH E CHRONICLE
D ec. 12 1908. |
U N IO N
PACIFIC
R A IL R O A D
AN D
A U X IL IA R Y
C O M P A N IE S.
NO. 5 — A S S E T S A N D L I A B I L IT I E S JU N E 30 1908.
(Excluding stocks and bonds owned of A uxiliary and Proprietary railways and all offsetting accounts between them.)
Cavital Assets—
,
.
Cost of railways, equipment and appurte
385,907 ,655
nances —
1,700,355
Cost ol extensions------------------------ - - - - - - - - -
Stocks and bonds owned, as detailed In
218,173,102
Tables Nos. 9, 10 and 11........ ................ ..
328,563
Trust funds--------------------------------------------------
Capital Liabilities—
Union Pacific Railroad Company:
195,487,900 00 195,477 ,900
Common stock---------------------------------------9 9,544,100 00 99,544 ,100
Preferred stock------------------------------- — -
Stocks of Auxiliary Companies In hands of
the public, viz.:
, _
Oregon Short Line Railroad C o.:
10,000
Common stock----------------------------------------Oregon Railroad & Navigation C o.:
,200
20,100
00
Common stock----------------------------------------,010
3,410 00
Preferred s to c k ................ - - - - i - —
Funded debt (excluding bonds of Auxiliary
and Proprietary Companies ow ned), Table
N o. 14 ............ ......................................................... 2 9 8,109 ,067 94 201,065 ,500
593,164 ,577 94 4 96,123 ,710
61 373,774,563 64
1,200,689 25
17
44 209,406,811 81
300,464 54
86
606,109 ,677 08 584,772,529 24
Current Assets—
Demand loans, Southern Pacific C o----------
Loans to San Pedro Los Angeles & Salt
Lake R R . Co............................................ ..............
Cash ............. ............................ - ..................... ............
Bills receivable------------------------------------------------Agents and conductors----------------------------------Traffic balances----------------------------------------------Dividends and Interest accrued to June 3 0 . .
Indlvlduals and companies----------------------------U . S. Government transportation----------------Material, fuel and supplies----------------------------
3 ,0 0 0 ,0 0 0 00
4 5 ,376,380 27
2,625,308
4,395,934
8,929
1,014,043
33
40
90
59
4 ,849,453
2,536,319
1,049,592
12,232,475
25
86
42
62
50 ,000
7,520 ,848
8 ,929
852 .800
212 ,334
3,738 ,932
3,170 ,186
1,069 ,455
9,884 ,409
00
64
90
05
90
50
43
21
38
74,088,446 64
20,507,897 01
33,013,620 02
26,390,035 46
DeferredAssets—
Advances for the construction and acquisi
tion of new lines-----------------------------------------Ocean steamships “ Manchuria” and "M o n
golla” — .............- ..................... ......... ...............
Rolling stock............................................................. .
Land and miscellaneous property---------------Individuals and com p anies................................
Due from proprietary companies........ ...........
Contingent Assets—
Unadjusted accounts------------Land and town lot contracts.
5,126,796
7,258,275
6,771
9,824
790,487
58
44
43
27
10
5,126,796
11,503,580
6,935
32,715
884,659
58
41
43
60
15
$46,205,775 83
4 3 ,944.722 63
1,457,894 52
3,542,420 21
310,030 84
3 ,281,855 33
5,000,323 73
June 30 1908. June 30 1907.
L IA B IL IT IE S .
June 30 1908. June 30 1007.
ASSETS.
3 ,600,886 17
Current Liabilities—
Traffic balances----------------------------------------Coupons matured but not presented-------Coupons due July 1 -------------------------------------- ,
Interest accrued on bonds and loans to
June 3 0 -----------------------------------------------------Dividends due but uncalled for-------------- - ■
Dividends payable July 1 and October 1 ------Bonds satisfied of m ortgage--------------------------Loans and bills payable........ ................................
Vouchers and pay rolls-------------------------------
Deferred Liabilities—
Taxes assessed but not du e.
Contingent Liabilities—
Insurance fund (Table N o. 2 3 )----------------------Trust accounts------------------------------------------------Equipment replacement funds......................... ..
Reserve for depreciation on steamships and
rolling stock leased--------------------------------------Reserve fund for betterments, additions
and new equipment..............................- - - - -
Reserve fund for maintenance, renewals, &c.
Hospital fund--------------------------------------------------Union Paclllc Coal C o ........... - ............- ................
Union Pacific Land C o------------------------------------Due to proprietary companies-------- - - - — Principal of deferred payments on land and
town lot contracts (Table N o. 1 9 )--------------
Balance to credit of profit and loss (Table 4)
731,404,223 28 661,826 ,035 05
Total assets-
Total liabilities...................................................
100,749 09
149,145 15
4,02 8 ,0 0 5 00
00
00
00
00
00
00
00
172,102 65
2,528.005100
38
00
00
00
90
27
1,878,815 74
33.660750
11,765,105100
3.000 0
69,0 5 0 ,2 2 0 ,0 0
6 ,2 2 1 ,595i98
62,779,054 79
91,652,504 87
1,085,066 52
985,212 64
416,506 41
54,027 45
97,683 39
492,076 93
81,918 78
204,329 31
1,392,039
38,836
11,765,277
3,000
4 1 ,189,645
4 ,112,357
1,353,769 60
1,111.654 24
81,878
1 ,736,885
53,559
3,06 0 ,2 0 5
4,67 8 ,3 5 0
4,77 4 ,6 1 0
76,581
2,848,829
2,081,559
455,020
63
11
47
96
93
39
00
45
47
10
3,542,429 21
3 ,2 8 1 ,8 5 5 33
10,396,945 23
20,086,785 93
63,978,578 80
52,977,821 61
731,404 ,223 28 661,826,035105
* F rom y e a r t o y ea r this c o s t has be e n w ritte n d O w n b v S l l . 3 2 7 036 88 w a i v e d t o d a t e fro m th e I m p r o v e m e n t a n d E q u ip m e n t fu n d an d b y
p rop rla tlon s fro m " I n c o m e A c c o u n t ” a m o u n tin g t o $ 1 6 ,9 5 9 ,8 1 6 24— a to ta l o f $ 2 8 ,2 8 6 ,8 5 2 80.
P-
U N IO N PACIFIC R A IL R O A D A N D A U X I L I A R Y C O M PAN IES.
NO. 7 .— STO C K S O F T H E
U N IO N P A C IF IC R A I L R O A D . O R E G O N S H O R T L IN E R A I L R O A D . O R E G O N R A IL R O A D
& N A V IG A T IC W
C O M P A N IE S A N D P R O P R I E T A R Y C O M P A N IE S , JU N E 30 1908.
Total Issued
and
Outstanding,
June 30 1908.
Amount
in Hands of
Public,
June 30 1908.
Union Pacific Railroad Co.
Common stock___________ $195,489,900 00 $195,487,900
99,544,100
99,569,300 00
Preferred stock -----------------Oregon Short Lino R R . Co.
27,460,100 00
Capital s t o c k --------------------Oregon R R . & N av. Co.
20,100
2 4 .0 0 0 .
000 00
Common stock -----------------3,410
11.000. 000 00
STlUlLI 1U1 3 tULIV- - - - - - - - Boise City. Ity. & Term . Co
22,900 00
Capital s t o c k --------------------Cascades Railroad Co.
300.000 00
Capital s t o c k -------------- - - Columbia & Palouse R R .C o
1,000,000
00
Capital s t o c k ......... ...............
Columbia River & Oregon
Central Railroad Co.
50.000 00
Capital s t o c k _____________
Columbia Southern R y . Co.
300.000 00
Capital s t o c k _____________
Malad Valley Railroad Co.
40.000 00
Capital s t o c k ____________
Malheur Valley R y . Co.
56,400 00
Capital s t o c k ____________
Mill Creek Flume & Mfg.Co.
200.000 00
Capital s t o c k ------------------Mlnlaoka & vS. W . R R . Co.
85.000 00
Capital s t o c k ------- — _ —
St. Anthony Railroad Co.
50.000 00
Capital s t o c k ......... ..............
Salmon River Railroad Co.
150.000 00
Capital s t o c k -------------------Snake River Valley R R .C o .
750.000 00
Capital s t o c k -------------------South Omaha & Western
Railroad Co.
100.000 00
Capital s t o c k .......................
W alla W alla & Columbia
River Railroad Co.
700,000 00
Capital s t o c k -------------------W yom ing Western R R . Co.
50,000 00
Capital s t o c k ------- -Yellowstone Park R R . Co.
12,500 00
Capital s t o c k ____________
00
00
Union Pacific
Railroad
Co.
Owned by Union Pacific Railroad and Auxiliary Companies.
Of the Total Owned there are
Oregon Rail
Oregon
Total.
Short Line road & NavlUnpledged.
Pledged.
tlon Co.
Railroad Co.
$2,000 00
25,200 00
27,350,700 00
$109,400 00
23,079,400 00
10,873,600 00
00
00
$500 00
122,900 00
$2,000 00
25,200 00
27,460.100 00
27,460.100 00
23.979,900 00 $23,979,300 00
10,996,590 00 10,866,800 00
600 00
129,790 00
22,900 00
22,900 00
22,000 00
-
$2,000 00
25,200 00
300.000 00
300,000 00
*300,000 00
1,000,000 00
1,000,000 00
*1,0 0 0 ,0 0 0 00
50,000 00
50,000 00
50,000 00
300,000 00
300,000 00
300,000 00
40,000 00
40,000 00
40,000 00
56,400 00
56,400 00
200,000 00
200,000 00
56,400 00
*200,000 00
85,000 00
85,000 00
85,000 00
50,000 00
50,000 00
50,000 00
150,000 00
150,000 00
150,000 00
750.000 00
750,000 00
750,000 00
100.000 00
100,000 00
100,000 00
700,000 00
700,000 00
*700.000 00
50,000 00
50,000 00
50,000 00
12,500 00
12,500 00
12,500 00
$35,429,290 00 $2,323,400 00 $66,330,590 00 $37,046,100 00 $29,284,490 00
Total 1 9 0 8 .............................. $361,386,100 00 $295,055,510 00 $28,577,900 00 35,426,590 00 2,323,400 00 66,491,890 00 37,046.100 00 29,445,790 00
Total 1007 ............................... 361,550,100 00 295,058,210 00 28,741,900 00
$2,700 00
$161,300 00
$161,300 00
$164,000
00
$2,700
00
$164,000
00
Decrease — ......................
* Pledged os muniment of title to railways forming an Integral part of the lines of the Oregon Railroad & Navigation Co.
1548
T H E CHRONICLE
[V O L .
L X X X V II
U N IO N PACIFIC R A IL R O A D A N D A U X I L I A R Y C O M P A N IE S.
NO 8 — B O N D S O F T H E U N I O N
________________ __________________________
R A IL R O A D O R E G O N S H O R T L IN E R A IL R O A D , O R E G O N R A IL R O A D
C O M P A N IE S A N D P R O P R I E T A R Y C O M P A N I E S , J U N E 30 1008.
Total Issued
and
Outstanding,
June 30 1908.
Amount
in Hands of
Public,
June 30 1908.
Union Pacific-HR. Go.
1st M . R R . and Land
Grant 4 % ________
5100,000,000 00
1st Lien & Refund. 4 % .
23,296,567 94
20-Y ear 4 % Convert’le
73.76 2 .0 0 0 00
Oregon Short Line R R .C o .
Consol. 1st Mtge. 5 % _ ._
12.328.000 00
Non-Cun u. Income A 7 .185.000 00
Coll. Trust Non Cumu
lative Income R _____
14.841.000 00
1 0 0,000 ,000 00
Oregon Short Line R y . Co.
1st Mortgage 0 % _______
14.931.000 00
Utah & Northern R y . Cc.
1st Mortgage 7 % _______
4 .9 9 3 .0 0 0 00
Consol. Mtge. 5 % _____
1 .802.000 00
Oregon R R . & N av. Co.
4 % Cons. M tge., G o ld -.
2 2 .022.000 00
Columbia & Palouse R ail
road Co.
1st Mortgage 6 % ______
2,829,000 00
Columbia River & Oregon
Central R R . Co.
1st Mortgage 6 % _______
8 9 4,000 00
Colunil Lt ijOUll. (i Hy • Co,
1st Mortgage 5 % _______
700,000 00
1st Mortgage 6 % _____
1 st
AND
N A V IG A T IO N
W A V U rA U U W
Owned by Union Pacific Railroad and Auxiliary Companies.
Union Pacific
PH. Co.
Oregon Short
Line RR. Co.
12.328.000 00
330,500 00
$4,290,500 00
$2,564,000 00
37,000 00
45 ,0 0 0 ,0 0 0 00
14,804,000 00
5 5 ,000,000 00
Oregon RR. &
navigation Co
Of the Total C)u tied there are
Total.
Pledged.
Unpledged.
$2,504,000 00
$4,200,500 00
2 3 ,296,567 94
7 3 .762.000 00
$ 0 ,854,500 00
sslooo.'ooo 0 0
5 5 ,000,000 00
14.931.000 00
............................
4.9 0 3 .0 0 0 00
1.802.000 00
21.629.000 00
5393,000 00
393,000 00
2.829.000 00
894,000 00
894.000 00
700,000 00
400,000 00
* 2 ,820,000 00 _ ----------------------
400.000 00
8 9 4,000 00
700.000 00
700,000 00
400.000 00
400,000 00
Mortgage 6 % _______
160,000 00
160.000 00
160.000 00
1st Mortgage 0 % . . ........
St. Anthony R R . Co.
1st Mortgage 6 % _____
Salmon River R R . Co.
1st Mortgage 6 % _______
Snake River Val. H H. Co.
1st Mortgage r> % ____
160,000 00
850,000 00
850.000 00
850.000 00
850.000 00
R R . Co.
1st Mortgage 6 % _____
W yom ing W est. R R . Co.
1st Mortgage 6 % ____ _
450,000 00
450.000 00
450.000 00
750,000 00
750.000 00
750.000 00
750,000 00
------
450.000 00
1 ,500,000 00
1,500,000 00
1.500.000 00
1,500,000 00
1,500,000 00
1,500,000 00
1.500.000 00
1,500,000 00
275,000 00
..............................
275,000 00 ________________
Total 1908...................... 5385,468,567 94 $298,109,067 94
$77,988,500 00
Total 1907....................
289,891 ,000 00 201 ,065,500 00 79,454,500 00
In c r e a s e _____________
**
595,577 ,567 94
$5,449,000 00
5,4 4 9 ,0 0 0 00
275.000 00
275,000 00
$ 3 ,922,000 00 $87,359 ,500 00
$5,393,000 00 $81,906,500 00
88 ,8 2 5 ,5 0 0 00
3 ,9 2 2 ,0 0 0 00
5 ,393,000 00
8 3,432 SOU 00
$97,043,567 94
D e c r e a s e _____________
$1,466,000 00
$ 1 ,466,000 00
$1,466,000 00
* Pledged as m uniment of title o f railways forming an Integral part o f the lines of the Oregon R ailway & Navigation Co.
________________________ ________________ No. 9 .— ST O C K S O W N E D OF O T H E R C O M P A N IE S , .JUNE 30 1008.
Amount
in Hands of
Public,
June 30 1908
Callcnte & Ploche R R . Co
Capital Stock___________
Gray’s Harbor & Puget
Sound R R . Co.
Capital Stock----------------Green R iver W ater Works
Co.
Capital Stock----------------Ilwaco Railroad C o----------Capital S t o c k .- .......... ..
Kansas City Term . R y.C o.
Capital S tock___________
Capital Stock_____ _____
Leaven. & Topeka R y. Co.
Capital Stock________ .
Capital Stock....................
OcclJi ft Oilental 33* Cui
Cap 1t;il Stock___________
Capital Stock_______
_
Capital Stock.......... .........
Pacific Express Co.
Capital Stock----------------Pacific Fruit Express Co.
Capital Stock___________
Rattlesnake Cr’ k W a t ’rCo.
Capital Stock___________
St. Joseph & Grand Island
Railroad Co.
Frst Preferred Stock___
Second Preferred Stock.
San Pedro Los Angeles &
Salt Lake R R . Co.
Capital Stock___________
Short Line Land & Im
provement Co.
Capital Stock. ________
Spokane Union Depot Co.
Capital Stock___________
Topeka Iron Co.
Capital Stock---------------Union Depot & Railway
Co. (Denver).
, Capital Stock_________
Union Depot Co. (Kansas
C ity ).
Capital Stock_____
Union Land Co.
Capital S to c k -. __
Owned by Union Pacific Railroad and Auxiliary Companies.
Union Pacific Oregon Short
RR. Co.
Line RR. Co.
$15,000 00
100,000 00
Oregon RR.
& Nav. Co.
$15,000 00
Total.
510,000 00
10,000 00
225,000 00
225,000 00 -
152,500 00
152,500 00
100,000 00
100.000 00 .
i
225,000 00
152,500 00
_
25,000 00 . . .
50,000 00
50,000 00 ..........
1,250,000 00
8 ,750,000 00
8.7 5 0 .0 0 0 00 _____
150,000 00
150,000 00
1,000,000 00
1 ,000,000 00
3 ,6 0 0 ,0 0 0 00
2 ,400,000 00
2.4 0 0 .0 0 0 00
1 0 ,800,000 00
5 ,400,000 00
5.4 0 0 .0 0 0 00
78,300 00
78,300 00
2,000,000 00
932,200 00
1,250,000 00
12,500,000 00
.................... —
12,500,000 00
5 0,000 00
100,000 00
..............
25,000 00
50,000 00
8,7 5 0 ,0 0 0 00
150,000 00
1,000,000 00
2-,400,000 00
+ 4,800,000 00
2 .9 0 0 .0 0 0 00 .................................. ..............................
932,200 00
1.250.000 00
12,500,000 00
50,000 00
Unpledged.
10,000 00
25,000 00
4.6 0 0 .0 0 0 00
5 ,498,500 00
3.5 0 0 .0 0 0 00
Pledged.
$15,000 00
25,000 00
150,000 00
Of the Total Owned there are
$15,000 00 ___
100,000 00
2 ,900,000 00
1,250,000 00
12,500,000 00
50.000 00
50,000 00
125,000 00
125.000 00
5 5,000 00
55,000 00
55.000 00
55,000 00
160,000 00
240,000 00
240.000 00
240,000 00
450,000 00
45,000 00
45.000 00
45,000 00
10,000 00
10.000 00
10.000 00
5 ,000,000 00
5,0 0 0 ,0 0 0 00
5,0 0 0 ,0 0 0 00
Capital Stock_______~
Capital S t o c k . . . . ___ .
100,000 00
100.000 00
Capital S tock. . . . ____
Union Pacific W ater Co.
Capital S to c k -. -----------
100,000 00
100,000 00
500 00
500 00
Common Stock--------------Preferred S tock_____ .
W ashington Union Coal Co
Capital Stock----------- . *
3,836^300 00
T o ta l, 1907....................
520,098,500 00 $18,250 ,750 00
24,29 8 ,5 0 0 00 12,565,000 00
—
—
1,849,450 00
3,8 3 6 ,3 0 0 00
125,000 00
$99,400 00
500 00
+ 1,849,450 00 .......... ...................
f 3,H3G,t)0u uu
1,849,450 00
— -170,200 00
Sold to Union Pacific Coal Company.
+ Increase.
— Decrease.
$47,349 ,250 00 + $10,485 ,750 00
3 6 ,8 6 3 ,5 0 0 00
$99,400 00 $47,240 ,850 00
99,400 00 36 ,7 6 4 ,1 0 0 00
1549
TH E CHRONICLE
D ecj.12 1908.]
U N IO N
PACIFIC
R A IL R O A D
AND
A U X IL IA R Y
CO M PAN IES.
No. 1 0 .— IN V E S T M E N T S T O C K S O W N E D , J U N E 30 1908
Owned by Union Pacific Railroad and A uxiliary Companies.
Atchison Topeka & Santa Fe Rail
way Co.
Preferred Stock.................... .............
Baltimore &Ohlo Railroad Co.
Common Stock — ............... ..........
Preferred Stock---------------------------•Chicago & Alton Railroad Co.
Preferred Stock--------------------------- $ 1 0,343 ,100
Chicago & North W estern R y Co.
Common Stock---------- --------- —
Chicago Milwaukee & St. Paul
Railway Co.
Common Stock-------- --------------Common Stock (6 5 % p a id ).-.
Preferred Stock (6 5 % paid) Great Northern Railway Co.
Preferred Stock_______________
Iron Ore Certificates, 77,164
shares * ------------------------------Illinois Central Railroad Co.
2 0 ,123,100
Capital Stock---------------------------N . Y .C en tral& H u d .R lv.R R .C o.
Capital Stock---------------------- . . .
Northern Pacific Railw ay Co.
Common Stock---------------------Common Stock (62 X
A % paid)
Northern Securities Co.
S t u b s -------------------------------------Railroad Securities Co.
Common .Stock_______________
3.48 2 .9 0 0
1.035.900
Preferred Stock----------------------Southern Pacific Co.
Common Stock................... —
Perferred Stock...........................
Of the Total Owned there are
Oregon Railroad
& Navigation
Co.
Oregon
Short Line
Railroad Co.
Union Pacific
Railroad
Co.
;
Total.
+ Increase
— Decrease
$10,000,000 oor
$ 1 0,000 ,000 00
32,3 3 4 ,2 0 0 00
7,20 6 ,4 0 0 00
Unpledged.
Pledged.
$ 1 0,000 ,000 00
32,3 3 4 ,2 0 0 00*
7,20 6 ,4 0 0 00
3 2 ,3 3 4 ,2 0 0 00
7,20 6 ,4 0 0 0#
10,343,100 00
1 0 ,343,100 00
3 ,2 1 5 ,0 0 0 00
3,21 5 ,0 0 0 00
3 ,2 1 5 ,0 0 0 00
1,340,000 00
# 3 ,2 7 2 ,5 0 0 00
#1,8 4 5 ,0 0 0 00
1,340,000 00
#3,2 7 2 ,5 0 0 00
#1,8 4 5 ,0 0 0 00
— $ 2 ,350,000 00
+ #2,3 5 0 ,0 0 0 00
1 ,340,000 00
#3,2 7 2 ,5 0 0 00
#1,8 4 5 ,0 0 0 00
3 ,5 7 8 ,6 0 0 00
3 ,5 7 8 ,6 0 0 00
— 9 ,072,360 00
3 ,5 7 8 ,6 0 0 00
20,1 2 3 ,1 0 0 00
+ 1,500,000 00
2 0 ,1 2 3 ,1 0 0 00
00
00
14,285,700 00
14,285,700 00
112,800 00
# 1 ,8 0 1 ,6 0 0 00
112,800 00
# 1 ,8 0 1 ,6 0 0 00
1 4 ,285,700 00
— 4 .040,000 00
— #690,000 00
112,800 00
# 1 ,8 0 1 ,6 0 0 00
+ 67.500 00
+ 37,500 00
3 .4 8 2 .9 0 0 00
1 .935.900 00
724 ,9 0 0 00
7 24,900 00
724,900 00
3 .4 8 2 .9 0 0 00
1 .935.900 00
00
00
j/$90,000,000 00
3/18,000,000 00
90,0 0 0 ,0 0 0 00
3 4 ,2 0 0 ,0 0 0 00
9 0,000,000 00
34,2 0 0 ,0 0 0 00
Total, 1908...................... .............. $ 3 5,885 ,000 00 $203 ,91 6,70 0 00
00
00 2 1 7,719 ,060
T otal, 1907............................- ........... 34,2 8 0 ,0 0 0
1 6,200,000 00
-$12 ,1 9 7 ,3 6 0 00 $108 ,00 0,00 0 00 $ 1 31 ,80 1,70 0 00
$239 ,80 1,70 0 00
00
108,000,000 00 143,999 ,060
2 5 1,999 ,060
00
* Par value of shares not stated in certificate. # Full par value of stocks,
v Deposited as collateral under Oregon Short Line Railroad Co. 4 %
Refunding Mortgage.
Of the total $100 ,00 0,00 0 outstanding bonds. $ 5 5 ,000 ,000 are a free asset In the treasury of the Union Pacific Railroad Co.
NO. 11.
Amount
in Hands of
Public,
June 30 1908
Atchison Union Depot 8cRR.Co
Second mortgage 5 % .............
Cheyenne County, Colorado.
Owned by Union Pacific Rallroid and Auxiliary Companies.
Union Pacific
Railroad
Co.
Oregon
Short Line
Railroad Co.
Of the Total Owned there are
Oregon RR
Naviga
tion Co.
+ Increase.
-Decrease.
$4,500 00
$4,500 00
200 00
26,200 00
147,000 00
147.000 00
198,000 00
143,000 00
305,000 00
305.000 00
250,000 00
125.000 00
125.000 00
87,000 00
63.000 00
63.000 00
$31,500 00
Chicago & Alton Railroad Co.
Green River W ater W orks Co.
Idaho Northern Railroad Co.
Ilwaco Railroad Co.
Leavenworth & T opekaR y.C o.
First mortgage 4 % ------- . . .
Leavenworth Depot & R R .C o .
First mortgage 5 % . .............
Northern Pacific Terminal Co.
B O X D S O W N E D O F O T H E R C O M P A N IE S J U N E 30 1908.
$123,000 00
58.000 00
Ogden Union R y . & Depot Co.
163,000 00
Rattlesnake Creek W ater Co.
First mortgage 6 % .......... .......
San PcdroJjos Angeles <5c Salt
Lake Railroad Co.
First mortgage 4 % —
Utah Light & Power Co.
Consolidated Mortgage 4 % .
Utah Light & Railway Co.
Consolidated Mortgage 5 % .
Collateral Trust 6 % .
Unlon Pacific Coal Co.
First mortgage 5 % . . . . . . . . “1,158,000 00
Union Pacific Land Co.
First mortgage 4 % --------------
Unpledged.
$4 ,500 00
26 ,200 00
+ $147,000 00
147 ,000 00
198.000 00
— 10,000 00
198 ,000 00
143.000 00
+ 143,000 00
181.000 00
143 ,000 00
305 ,000 00
+ 2 2 ,5 0 0 00
125 ,000 00
+ 13,000 00
181 ,000 00
63 ,000 00
163 ,000 00
163.000 00
163.000 00
Payette Valley Railway Co.
Pledged.
$44,000 00
146,000 00
44.000 00
44 ,000 00
146.000 00
146 ,000 00
20,000,000 00
2 0 ,000,000 UO
20,000.000 00
1,500 00
1,500 00
+ 1,500 00
1,500 00
993,000 00
41,000 00
993.000 00
41.000 00
+ 9 9 3 ,0 0 0 00
+ 41,000 00
9 93,000 00
41,000 00
3 .8 4 2 .0 0 0 00
3 .8 4 2 .0 0 0 00
— 136,000 00
7 .400.000 00
7.40 0 .0 0 0 00
— 2,60 0 ,0 0 0 00
Total 190 8 ........ ........... ............................................ *12,620,700 00 $21,079,500 00 $123,000 00 $33,823,200 00 — $ 1 ,385,000 00
Total 1907................................ |_............................ 15,039,200 00 20,044,000 00 125,000 00 35.208,200 00 .........................-
3 ,8 4 2 ,0 0 0 00
$7,4 0 0 ,0 0 0 00
$7,400,000 00 $26,423,200 00
10,000,000 00 25,208,200 00
Held by Union Pacific Coal Co. sinking fund.
— Joseph Walker & Sons, 20 Broad St., N . Y ., have
compiled in manifold form some statistics bearing on the
development and present position of the Missouri Kansas
& Texas R y. Co., and the outlook for traffic in the States
of Oklahoma and Texas. These statistics, it is believed,
will be of interest; “ for as the Panama Canal approaches
completion, the great importance of this independent
system must be evident.”
— Deward F . Jones, this week opened a branch office at
f>^Wcst 58th Street, adjoining the Hotel Plaza, for the New
York and Boston Stock Exchange firm of J. It. Williston &
Co. of 7 Nassau St. Mr. Jones was until lately office man
ager of Raymond, Pynchon & Co.’s Plaza Hotel branch.
Direct wire facilities and comfortable office accommodations
are at the service of the uptown patrons of J. R . Williston
& Co.
— Charles J. Sackett, who for 12 years had been Manager
of.“the office of Ware & Leland, prominent Chicago Board
of<Trade house, died suddenly on Monday last of heart
disease while at work at his desk. His health had not been
rugged for two or three years, and he had just returned from
afjSouthern sojourn from which he had hoped to derive
benefit.
^
— Dudley Bros. & Co., members New York Stock E x
change, announce that the firm has established a branch at
500 Fifth Avenue, corner of 42d Street, under the manage
ment of George I I . Mairs. This new office is convenient to
the Grand Central express station of the subway and the
Sixth Avenue Elevated line and crosstown cars connecting
all the avenues.
— A new firm— Short, Stanton & Co., Cincinnati— has
been formed to deal in municipal and corporation bonds.
The firm is composed of Charles W . Short, formerly with
the C. C. C. & St. L. R y. Co., J. A. Stanton, formerly with
Albert Klcybolte & Co., and Lewis N . Worthington, special
partner. The offices are in the Mercantile Library Building.
— F . W . Mason & C o., of 53 State Street, Boston, have
taken an adjoining office which will be used for the firm’s
bond department. The additional space gives the firm
twice the amount of room it previously had, and increases
its facilities for the handling of its business.
— A . B . Leach & C o., investment securities, 149 Broad
way, New York, have just issued a comprehensive circular
describing over one hundred issues of railroad, corporation,
State, county and city bonds, yielding attractive income
returns upon investment.
— Paul E . Lamarche and Charles B . Coady have formed
the new firm of Lamarche & Coady, 25 Broad S t., this city,
succeeding Toby & Lamarche, dissolved, George Parmly
Toby retiring. Lamarche & Coady will transact a business
in unlisted stocks and bonds^the same as heretofore.
^-1 i
r' '
I
1550
3
T H E CHRONICLE
P «
© u m tn x m a l
^
C
T e p ^
Friday Night, Dec. 11 1908.
There is a steady spread of confidence throughout the
country, exhibiting itself in a more extensive employment
of labor, larger sales of goods, a considerable increase in
bank clearings over those of a year ago and a general steadi
ness of values. More seasonable weather and the approach
of the holidays have also stimulated business. Conserva
tism, however, is the keynote everywhere.
L A R D on the spot has been easier on the whole, though
without important changes. The break in wheat and corn,
however, and the continued quietness of trade have more
than offset firmness of live hogs and light offerings of pro
duct. Prime Western 9.60c. and City 9j^ c. Refined lard
has also been heavy in company with the grain markets.
Sales have been small and confined to local jobbers. Refined
Continent 9.8 5c., South America 10.60c. and Brazil, in kegs,
12c. Speculation in lard futures has been active, with pr ccs
irregular. Declines at times in sympathy with the break in
wheat and corn and selling by packers have been followed
by rallies on firmness in live hogs and moderate receipts.
There has been more or less investment buying.
c o m m
r c ia l
D A I L Y C LO SIN G P R IC E S O F L A R D F U T U R E S IN CHICAGO
Sat. Mon.
January delivery............... 9.22>3
M ay delivery.......................9.45
9.15
9.35
Tues.
9.12*^
9.35
Wed.
9 .1 7 H
9.42
Thurs.
9.253^
9.47
Fri
9 is ‘
O
T
T
O
N
L X X X V II.
.
Friday Night, Dec. 11 1908.
T H E M O V E M E N T OF T H E CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
406,266 bales, against 457,544 bales last week and 413,653
bales the previous week, making the total receipts since
the 1st of September 1908, 5,232,295 bales, against 4,021,277
bales for the same period of 1907, showing an increase since
Sept. 1 1908 of 1,211,018 bales.
Receipts at—
Sat.
Mon. Tues.
Wed. Thurs. Fri.
G alveston_______
Port Arthur____
Corp. Crhlstl, &c
New Orleans____
Mobile --------------Pensacola - ______
Jacksonville, &c.
Savannah ---------B ru n sw ick _____
C h arleston _____
G eorgetow n____
W ilm in g to n ____
N o rfo lk -----------N ’port News, &c.
New Y o rk _______
Boston---------------B altim ore_______
Philadelphia-------
23,741
19,117
49,717
18,184
11,175
29,664
9,116
3,507
17.505
4,106
18,355
5,451
19,591
1,690
7,765
2,364
5,820
856
14,075
12,221
62
8,751
7,632
T o t. tills week
52,349
1,216
926
591
980
2,860
5,890
875
5,502
880
183
3,115
5,084
607
10,868
11,575
1,658
1,814
6,858
4,084
1,738
2,718
129
170
11
360
64
266
155
194
—
70
—
63,143
60,137
1,525
59,367
11,575
6,251
183
1 1,967
30,136
75
1,047
424
5,538
177
54,323
71,852 406,266
122
5', 53 8
—
32
05,462
Total.
19,672 160,095
_____ 11.175
1,840
1,840
11,970 84,302
3,546 20,664
9^35
P O R K on the spot has ruled steady. Trade has been
quiet and limited to small sales, mainly for local account.
Mess $ 1 6 @ $ 1 6 50, clear $20 @ $ 2 4 and family $1 8 @ $ 1 9 50.
Cut meats have been in moderate demand and easier, on
larger supplies. Pickled hams 9 @ 1 0 % c ., pickled bellies,
14 @ 1 0 lbs., 9 % @ l l c . , and pickled shoulders GJ4@7c.
Beef has ruled firm with an increased inquiry and moderate
supplies. Mess $12 5 0 @ $ 1 3 , packet $1 4 @ $ 1 4 50, family
$ 1 6 @ $ 1 6 50 and extra India mess $24 5 0 @ $ 2 5 . Stearines
have been in good demand and steady; oleo 10c. and lard
1 0 K @ l l c . Tallow has been quiet but firmer on light offer
ings; City 5 % c . Butter has been moderately active and
steady; creamery extras 3 0 ^ @ 3 1 c . Cheese has been quiet
and steady; State, f. c ., small or large,_ Sept, fancy, 14c.
Eggs have been dull and weaker on increasing receipts;
Western firsts 34c.
O IL .— Cottonseed has been quiet and easier. Winter
4 4 @ 4 6 c . and summer white 3 9 @ 4 1 c . Linseed has been
firmer in tone, though without quotable change. Thesales
have been confined as a rule to small lots, for which there
has been a good demand. City, raw, American seed, 4 8 @
49c.; boiled 4 9 @ 5 0 c . and Calcutta, raw, 70c. Lard has
been stronger and moderately active forjsm all lots. Prime
7 4 @ 7 7 c . and N o. 1 extra 51 @ 5 3 c . Olive has been mod
erately active and firm at $ 1 @ $ 1 40. Cocoanut has been
quiet and steady; Cochin 7 } 4 @ 7 } ^ c . and Ceylon 6 % @ 7 c .
Peanut has been dull and steady; yellow 6 5 @ 8 0 c . Cod has
been moderately active and firm; domestic 3 8 @ 4 0 c .a n d
Newfoundland 4 0 @ 4 2 c .
C O FFEE has been quiet and steady. Rio No. 7, G }4 @
6 % c ., and Santos No. 4, 7 % @ 7 % c .
West India growths
have been quiet and steady; fair to good Cucuta 8 % @ 9 % c .
The speculation in future contracts has continued quiet and
fluctuations in prices have been insignificant. Early in the
week a small decline occurred on selling by spot interests
against purchases in Brazil, liquidation and liberal receipts,
but this was followed by a rally on unexpected firmness in
European markets and covering of shorts. The signing of
the bill guaranteeing the Sao Paulo refunding loan has had
no effect. The closing prices were as follows:
D ecem b er-----------5.10c. |A p r i l ............. .............. 5.15c. |A ugust____________ 5.20c.
January.......... —
5.05c.|M a y---------------------- 5.15c. |September------------- 5.20c.
February............... 5.10c. June......................
5.15c. |O ctob er- .................. 5.20c.
M a r c h -----------------5.15c. |July----------------------- 5.20c. |N o v e m b e r ...........5.25c.
S U G A R .— Raw has been dull. Cuban sellers have made
large offers here of late. Centrifugal, 96-dcgrccs test, 3 .8 6 @
3.92c., muscovado, 89-deg. test, 3 .3 6 @ 3 .4 2 c ., and molasses,
89-degrees test, 3.11 @ 3 . 17c. Refined has been quiet and
easier. Granulated 4 .6 0 @ 4 .7 0 c . Teas have been steady
with a moderate demand for small lots. Spices have been
fairly active and firm. Wool has been less active but strong
on small supplies. Hops have been quiet and steady.
P E T R O L E U M .— Refined has been in good demand and
firm. Steamer space has been engaged for 135,000 cases,
Jan.-Feb. shipment, from Philadelphia to Japan or Corea.
Refined barrels 8.50c., cases 10.90c. and bulk 5c. Gaso
line has been active and firm; 86 degrees in 100-gallon
drums 19c.; drums $8 50 extra. Naphtha has been mod
erately active and steady; 7 3 @ 7 6 degrees in 100-gallon
drums 16c.; drums $8 50 extra. Rosin has been quiet and
easy; common to good strained $3 25. Spirits of turpentine
has been quiet and easy at 42f&c.
TOBACCO.— Trade in domestic leaf has continued on a
small scale. Consumption of cigars has diminished of late
and manufacturers show no inclination to depart from the
policy of buying on a hand-to-mouth basis. Sumatra and
Havana have bee n quiet. Prices have been steady.
COPPER has been quiet and steady. Lake 14)<(@ 14% c.
and electrolytic 14>^@ l4j.^c. Lead has been quiet and
steady at _4.22J^@4.27>^c. Spelter has been quiet and
steady at 5.10c. Tin has been quiet and easier at 29J4jc.
for Straits. Iron has been quiet and steady; N o. 1 Northern
$ 1 7 @ $ 1 7 50; No. 2 Southern $17 2 5 @ $ 1 7 50.
[V O L .
The following shows the week’s total receipts, the total
since Sept. 1 1908, and the stocks to-night, compared with
last year:
Receipts to
December 11.
1908.
Stock.
1907.
This Since Sep This Since Sep
week. 1 1908. w
eek. 1 1907.
G a lv e s t o n _____
160,095 2,044,801 88,255 1,048,435
Port Arthur_____
36,511
11,175
37,923
Corp. ChrlstI, & c.
1,840
25,197
869
9,438
New O rlean s____ 84,302
952,549 103,334
780,091
M o b ile .................... 20,664
212,444 18,600
178,008
Pensacola________
51,210
1,450
63,136
Jacksonville, & c.
1,525
18,670
249
4,764
Savannah________
59,367
962,338 64,063
992,477
Brunsw ick. __
I t , 575
144,686
7,489
104,740
6,251
C harleston_______
135,161
6,993
150,363
Georgetown___ __
183
832
Wilmington ____
11,967
267,468 28,903
331,737
Norfolk_______ . .
30,136
317,815 30,570
286,321
Newport News,&c
278
2,506
4,595
New Y o r k _______
1,047
5,428
45
1,686
Boston ................ _
424
7,002
264
1,814
2,108
Baltimore_____ .
45,820
5,538
22,773
177
1,857
2,976
691
Philadelphia____
1908.
1907.
253,986
184,942
249,638
61,164
169,693
16,848
3 0,330
44,606
41,707
120
133,660
6,600
6,198
6,186
T o ta l___________ 406,266 5,232,295 354,161 4,021,277
951,692
In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
Receipts at—
1908.
1907.
1906.
Galveston —
Pt. Arthur,&c.
New OrleansM o b ile---------Savannah —
Brunswick—
Charleston,&c
W ilm in g to n -.
Norfolk -------N ’port N .,
All others-------
160,095
13,015
84,302
20,664
59,367
11,575
6,434
1 1,967
30,136
____
8,711
88,255
869
103,334
18,600
64,063
7,489
6,993
28,903
30,570
278
4,807
126,851
8,961
112,620
15,428
63,506
9,487
6,686
9,447
29,669
2,419
23,910
85,274
9,619
58,760
8,674
39,755
11,627
3,659
7,629
26,554
627
12,628
10,203
3,604
5,695
14,302
298
23,267
101,980
1,694
83,758
8,690
53,128
6,941
4,734
13,218
20,509
962
3,258
Total tills w k .
406,266
354,161
408,984
264,806
320,447
298,872 '
&c
1905.
1904.
94,931
1,011
96,627
14,757
1903.
Since Sept. 1 . 5,232,205 4,021,277 5 ,105,640 4,601,721 5,290,704 4,648,241
The exports for the week ending this evening reach a tot: 1
of 386,115 bales, of which 204,820 were to Great Britain,
54,430 to France and 126,865 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1908:
Week ending Dec. 11
Exported to—
Exports
from—
Great i
I ConltBritain. Fr'nce' nent.
Galveston ----- 92,031 26,432 64,807 183,270
____ 1 1,17 5
Port Arthur__ 1 1 ,1 7 5
____
Corp.Chris.,&c.
New Orleans-. 57,587 10,700 28,241 96,528
18,406
9,300 9,166
800
800
P en saco la----____
____
Fernandlna -- ____
Savannah ----- ____ S.061 23,620 31,6 81
____
8,264
Brunswick___
8,264
____
___
____
Charleston___
14,694
Wilmington__ 14,694 —
"2 7 5
475
200
Newport News
New Y o rk ___
5,408
71 2,050 7,529
_.
Boston ...........
4,803
4,803
B altim o re___
1,606 2,904
1.35S
Philadelphia . .
300
300
....
.........
Portland, M e..
San Francisco.
Seattle ...........
5,166 5,166
T acom a_____
—
....
.........
Portland, Ore.
Pem bin a.........
___
Detroit..............
....
......... .........
From Sept. 1 1908 to Dec. 11 1908.
Exported to—
Great
Britain. France
751,734
15 ,5 17
______
301,857
34,071
9,565
______
79,728
49,662
5,725
72,373
15,600
272,122
____
93,902
44,205
17,637
____
63,509
Conti
nent.
Total.
599,689 1,623,545
20,994
3 6 ,5 11
409
409
242,637 641,396
35,158 113,434
25,649
52,851
371,360
54,922
41,739
164,949
575
514,597
104,584
47,464
246,053
16 ,17 5
7 1,7 5 1 15,742
46,648
14 ,14 1
1,900
12 ,13 8
74,860
7,128
42,615
4,474
162,353
53,776
58,656
16,0 12
.....
16,328
25,760
2,998
16,328
25,766
2,998
............
8,731
______
............
............
Total
__ 201,820 54,430jl2G,8 6 538 0,115 1,483,510 517,748 1 ,732,250|3,733,508
Total 1907___ 89,69130,536 1 1 2 ,36l|232,588 1,248,569 381,905 1,340,415 2,970.889
............
.........
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared at the ports named. We add similar figures for
New York.
Dec .
11
On Shipboard, Not Cleared for—
Dec. 11 at—
Great
Britain. France
Ger
many.
Other Coast
Foreign wise.
2~,666
8 ,0 0 0
45,173
41,462
43,449
30,378 290,356
42,668 307,938
55,956 405,873
773,324
643,754
930,463
30,000
1.500
25,000
Total 1 9 0 8 .. 1 0 2 , 2 0 0
Total 1 9 0 7 .. 91,184
Total 1906 . . 133,981
27,621 84,984
39,409 93,215
69,545 102,942
10,503
41,757
5,040
6 ",2 0 0
2_, o65
7,500
■766
1 ,2 0 0
Total.
249,299
141,064
143,181
26,109
54,020
22,061
102,662
34,928
20,770
13,545
858
4,925
19,996
Leaving
Stock.
181 50,973
3,297 112,922
1.500 10,261
3.000
1.500
3,400 16,800
20,500 28,000
5,400
63,000
14,594
34,327
2,863
1.500
5,200
New O rle an s..
G a lv e sto n ____
.Savannah ____
C h a rle sto n ___
M o b ile ________
N o r fo lk _______
New Y o rk ____
'Other ports___
F U T U R E S .— The highest, lowest and closing prices at
New York the past week have been as follows:
Speculation in cotton has kept within about the same
limits showing no particular life, and prices have suffered
some further decline. This must be ascribed solely to the
enormous receipts. The weekly movement into sight has
recently surpassed all records, and it still continues at a rate
which leads many of the trade to very seriously doubt the
expediency of attempting to advance prices until the re
ceipts show a marked and permanent decrease. The depres
sion in the spot markets is one effect of the large receipts.
It reacts on “ futures.”
Moreover, there is persistent sell
ing of South.ern hedges here. Added to the no less persistent
straddle sales of October by Liverpool people, against pur
chases of September and October across the water, these
hedges have weighed very noticeably on the market. Some
apparent falling off in the dry goods trade in this country
has also had its influence. So have unfavorable reports
about the condition of Lancashire’s trade, the rather un
satisfactory British exports of goods and rumors that in
Belgium the mills will go on short-time for two days of the
week. Still another depressing factor is the steadily in
creasing stock here, accompanied by rumors that the in
crease is likely to be much greater. December notices, ac
cording to some reports, have been issued in much largei
volume than was commonly supposed. Finally, there is
the question of the Government crop estimate, which was
issued on Wednesday, Dec. 9, as 12,920,000 bales of 500 lbs
gross weight. Rumors that this estimate, which was 100,
000 to 200,000 bales smaller than some had looked for, was
due to some sort of pressure at Washington, though em
phatically denied by the officials there, have not been with
out some influence. They form part of the record of the
week, and are noticed here for that cause alone. On the
day of its issuance the crop estimate caused an advance of
about 20 points, but, owing to further consideration of the
matter, and also because of the rumors in question, and of
standing orders in some cases to sell should the estimate
approximate 13,000,000 bales, prices the next day lost this
improvement. Many think the estimate too low, and _m
support of this contention point to the fact that the quantity
ginned, especially in such States as South Carolina and Isoith
Carolina, not to mention Alabama, Tennessee and Louisiana,
is already close to the Government’s crop estimates for these
several States. Some supposed that the next Census Bureau
report, to be issued on Dec. 21, giving the quantity ginned
up to Dec. 13, will give totals for a number of States equal
to or in excess of the crop estimates for such States. More
over, ginning reports will appear up to March 20 1909
There can be no disguising the fact that, whatever may be
said on this subject,pro or con, an idea that the Government
estimate is too low has had a depressing effect, especially
as for three years previous to last season its estimates were
very much below the actual crops. To-day prices again de
clined, mainly owing to large receipts and dull spot markets
Wall Street has been buying on a scale-down all the week
Liverpool was depressed and its spot sales dwindled to a
merely nominal total. Covering, however, caused a rally,
Spot cotton has been dull. Middling uplands closed at
9.10c., a decline for the week of 25 points.
The rates on and off middling, as established N ov. 18 1908
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
°
1 “ on
™
c- . 1.50
F a ir ......................
Strict mid. fair------- 1.30 on
Middling fair............. 1.10 on
Strict good mid____ 0.G6 on
Good middling____ 0.41 on
Strict m id d lin g ....0.22 on
Middling..............c. I5asls|Good inld. tlng’d .c . JSven
Strict low mid.......... 0.30 oltjstrlct mid. tlngcd.-0.20 ol'f
Low middling______1.00 off!Middling tinged— 0.30 oft
Strict good ord____ 1.50 off.Strlct low mid. ting.1.00 off
Good ordinary____ 2.50 off Low mid. tinged— 2.25 off
Strict g’d mid.tgd.0.35 omMlddllng stained.-1.00 off
9. The official quotation for middling upland cotton in the
New York market each day for the past week has been:
D e c .b t o D e c . i l —
Sat. M o n . l u e s .
Middling uplands________________ 0.35
9 .35
9 .25
W ed. T h u r s .
9 .25 9.15
Fri
9.10
ISTFAV YORTC Q U O TA TIO N S FO R 32 Y E A !
1 9 0 8 .C..............9 .1 0
1907--------- - .1 1 .9 5
1906...............1 0 .5 0
1 0 0 5 -- ........... 1 2 . 1 0
1904............... 8-00
1903................ 12.40
1 9 0 2 . : ........... 8.55
1 9 0 1 ................. 8.50
1 9 0 0 .c . . . . .
1899______ - .
1898........... . .
1897--------- . .
1896--------- . .
1895........... . .
1894--------1893---------
M ARKET
... 1
w
Sa tu rd ay -Monday—
T uesday . .
Wednesday
Ihu rsday Friday-------
AN D
9.75|
7.69
5.81
5.88
7.38
8.50
5.75
7.81
1892- c - - . - - 9.751
1891____ . . . 8.06
1890------- . . . 9.38
1889____ .- - 1 0 . 2 5
1888------ . . . 9.88
1887------1886------1885------- . . . 9.25
SALES AT N E W
Spot Market
Closed.
Futures
Market
Closed.
Q u i e t ----------------------Q u i e t ........ ........... —
Quiet 10 pts dec------Q u i e t ---------------------Quiet 1Opts dec------Quiet 5 pts dec-------
Steady----------Barely s t’d y .
Barely steady
F i r m ________
Barely steady
Steady.............
1551
TH E CHRONICLE
1908.1
1 8 8 4 .C............10.88
1883 - ............. 10.56
1882........... - .1 0 .3 8
1881________ 11.9
1 8 8 0 ............... 1 1 . 8 8
1879_________13.25
1878__________8.94
1877................ 11.44
YORK.
---}
c>
^
g
C
ft
ft
0030 09 00
MCJ
C Cl
I® I ©
CIC1
■Mt\9
I©
00 I
0000
I©
00 00
I©
I©
Cl Cl
0000
oooo
C1Cl
I®
0000 00 |
00 *M
©Cl
OO00 ©©
I©
00 00
’■m’-M
OoOo
I®
I®
I©
I®
I®
©
0000 00 30
Cl Cl ©©
©© Cl Cl
I®
I®
I®
I©
I®
oo00
MM
©©
c©
•M*M
I©
T©
I®
Oo00
00 09
•MOO
-Too
I©
Total.
4,300 4 ',3 66
900
900
1)50
900
“ so
27,600 27,600
2,500
2,50
50 36,200 36,250
Co
C1©
00 00
booo
00 00
I®
^
g sa g to ^
o E lo £ w o S > | o g
oS>|
•*
m o ' a S3 ' w e
■—tq r-aro trtr
I©
|®
I©
00 ;
©©
I®
I©
00 00
08 00 Oo
0000
00 00
I©
I®
00 oo
oo30
I©
I®
s?S
o3
• ft,
•Mft
•M*M
oooo
00©
w©
1®
'©
I®
I®
OoOo oo©
©oo
3
©to
I® I© I®
oooo
8 *09
Oooo Oooo Oooo Oo i
oo ©
to ©
I®
I®
I®
00 00
© Q,
Oobo
C1C1
I®
©
£*03
to «M
I©
I©
I®
I®
, „
II
' «•o
I® I®
I©
I©
00 09
©*-M
00 00 0900
CO00
© bo
OoOo
ci Cl
OOOO 0000
©CI Cl ci
to 00 •MCI
I©
I®
?®
I®
*©’©
| 00 | oo I Oo
«tfk
'o
00
©
I©
I©
I 00
e
On
o
I© I®
0000
oooo
1U1U oo oo
©to Cl Cl
I®
I©
I®
oooo
I©
Oooo Oooo oooo
*C1*© Cl CI Cl*©
09 00
Oc00
Cl CI
II
, ,
'
0000 0000
oooo
©C1 ©©
©*©
© © CO09
i © |© I © I® I®
00 oo OoOo 0000
© © © © ©’©
■MCl Cl Cl oooo
| Oo I 00
w
Cl , 2
>-*
I®
I©
| oo
k
,00
I oo
. fc
**
I® I®
t)tq
S3.
IOo
.2
Cl
I®
T H E V IS IB L E SU P P L Y OF COTTON to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week’s returns, and conse
quently all foreign figures are brought down to Ihursday
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 11"—
Stock at L iverpool-................. bales.
Stock at London - _______________
Stock at M anchester.........................
1908.
636,000
10,000
34,000
1907.
15,000
53,000
1905.
1®08.
804.000
685,000 5 67,999
15.000
9,000
47.000
41,000
866.000
617.000
Total Great Britain stock— - 680,000 753,000
13.000
11,000
Stock at H am bu rg-........................... 14,000
16,000
327.000
222.000
Stock at B rem en ................................ 217,000
i s a ’ nnn
181.000
116,000
Stock at Havre - .........................- - 135 ’ nno
2,000
3.000
Stock at Marseilles........................ - - 3,000
7.000
10,000
Stock at B arcelona...................... - - ^ ,0 0 0
lo.OOO
29.000
63,000
S t o c k a t G e n o a - .........................................
3I ’ non
? ? ’ nnn
2.000
1.000
Stock at T rieste.......... ........................
4,000
25,000 ______________________
Total Continental sto c k s -..........
597,000
4 1 8 ,0 00
426,000
561,000
Total European s t o c k s - - -1 .2 7 7 ,0 0 0 1.1 7 1 .0 0 0 1 .048.000 1 .4 M .0 0 0
India cotton afloat for Europe.
50,000
40,000
940,471
787,000
American cotton alloat for buropel ,077,127
003,013
88,000
68,000
Egypt, Brazil,&c, alloat for Europe
89.000
88,000
204.000
169,000
Stock in Alexandria, E g y p t ---------249,000 203,000
358.000
511,000
Stock In Bom bay, I n d i a --------------- J,9:?'999
1,336,336 1,172,595
Stock in U. S. p o r t s ---------------------680,111
738,424
Stock In U .S . interior towns---------861.451 826-8'j9
54,616
39,665
U .S . exports to-day----------------------71,550
TV>til visible sudd Iv _____________ 4,933,808 4 ,242,324 4,802,534 4,093,684
Of the above, totals of American and other descriptions are as follows:
American—
582.000
484,000
701,000
Liverpool stock---------------------bales. o36,000
42,000
34,000
39,000
Manchester stock................................
30,000
337.000
381,000
525,000
Continental stock--------------------------- 6o2,000
003,013
940,471
787,000
American alloat for Europe..............1,077,127
951,692 1,336,336 1,172.595
U . S. port stock s---------------- ----------- 1.063,680
523,836
080,111
738,424
U .S. Interior stocks.............- ............ 8 6 v
30,783
54,616
39,665
U. S. exports to-day----------------------71,550
Total American ... ...........................4.191,808 3 ,370,324 3,910.534 4,002,684
East Indian, Brazil, & c.—
103.000
83.000
103.000
Liverpool stock..................................... 100,000
15.000
9.000
15.000
London stock.......................................
10.000
8,0 0 0
7.000
11.000
Manchester stock................................
4,ooo
3 6.000
45.000
81,000
Continental stock--------------------------45,000
8 1.000
98.000
40.000
India afloat for E u r o p e .................
oO.OOO
68,000
88,000
88.000
E gypt, Brazil, & c., afloat------------89,000
169.000
204.000
209.000
Stock in Alexandria, E g y p t .------- 249,000
511.000
358.000
325.000
Stock In Bom bay, I n d i a .- ............. 19a,000
Tntfll East India &c
____
742,000
872,000
892,000
991.000
Total American .’ - - - I I . _______ 4,191.808 3 ,370,324 3,910,534 4,002,684
Total visible supply...................... 4,03/ i 8n°f]8 4,2 a2™ ^4
Sales of Spot and Contract.
ConCon
Export sum'n. tract.
O
o a "
o s S 'o m S
o 9 > | o fJ i o ~ | o £ 5 o e
oH |o£
Middling Upland’ N e w ^ o lk '. 111
9.10c.
12.10c!
10.45c!
E gypt^G ood Brown. Liverpool 8 15-16d. 10 ll-1 6 d . 10 9-16d.
Peruvian, Rough Good, Liverpool
7 80d.
11.7od.
9.20d .
Broach, Fine, L iv e r p o o l---..........
,
V S I a Ji ' 5
ilr t
Tlnnevelly, Good, Liverpool.......... 4 l l - 1 6 d .
5 7-lG d.
o^d.
4 ,° 6 329d4
12.20c.
8 9-16d.
° - 9995 aiBd'
5 9-16d .
Continental imports for the past week have been 188,000
bales.
.
,
The above figures for 1908 show an increase over last
week of 191,51(1 bales, a gain of 691,484 bales over 1907,
an increase of 131,274 bales over 1906, and a loss of 5 9 , 8 / 6
bales from 1905.
1552
THE CHRONICLE
A T T H E I N T E R I O R T O W N S th e m o v e m e n t— th a t is ,
t h e r e c e ip t s f o r th e w e e k a n d s in c e S e p t . 1 , th e s h ip m e n t s
fo r th e w e e k a n d th e s to c k s to -n ig h t, a n d th e sa m e ite m s fo r
t h e c o r r e s p o n d i n g p e r i o d f o r t h e p r e v i o u s y e a r — is s e t o u t
in d e t a il b e lo w .
CMO CO^ COC5 CMO O* rHCM*05 CO*'•tf*CM*CO*CM*
rH rH rH rH C M rH rH rH O
C V | ^ | » O rH
ONO
COrH
r* CM*CMTf CO*COCO*CO*rHrHCO
O*
»0 rP
«0
CM*
rHr-.r^COU-'-'COU-'rfCO^OJ
TrC^TflOTfCO^CO^
CO
O h
* " * " * *
CO
I Z T ? ^ 5 1 '2 2 00fv,0:DCOl000<::)b, b, 'i, o o c c o u 'o x
• - » ' ' ’ w-* ' -‘ wAM-inT|fTj'COCO
I 0 c i c 0 c 0 h * 0 0 ’t , c 0 0 1 ' j r f ( ^ 0 i ^—( £—) 0—o 0 —■ M
O ’ I W M o O ’I 'O O c O c i O O O
J 03 O C3 Tf cvj o o rr cq TH00 03
COry COCO
I
q
~
lO o O COrf C3e0rHC0rH00O00rH
lOt^OrHCMrH
«OCVlCvjrfcOcO,'T'rflO
8 .6 7 -.6 9
8 .6 5 -.7 0
R a n g e _______
C losin g_______
J an ua ry—
R a n g e _______
C losin g___ __
- - w ^ f f s « 3 ® s NN a s s v g s s « ; 5
F ebru a ry—
M a rch —
© a w o i o q i o i O f t i S o o o o c o o ^ S ^ O th S
COCO^ F-"o "CO'tf*tJ<©’ 00*
CM rH CM
CO
rH
R a n g e _______
C lo s in g -.
~
R a n g e _______
C losin g____
M a y—
R a n g e _______
C lo sin g_____
June—
R a n g e _____
C lo sin g_____
>>csj a
l:
H I:
ao So S—•"
M S*
£f:
■3 S
<
eo
o
oy,
8 13-16
8H
M onday
D e c . 7.
O W
J u ly —
oS
• a «: «
w g-aa
k-
R a n g e _______
C losin g_______
alo&| £
O ctob er—
R a n ge _______
C losin g, , _
T one—
T h e a b o v e t o t a l s s h o w t h a t t h e n t e r o r s t o c k s h a v e in
creased d u r n g t h e w e e k 1 5 , 1 0 7 b a l e s a n d a r e t o - n g h t 3 3 7 , 0 1 5
b a le s m o re t h a n a t t h e s a m e t m e la s t y e a r . T h e r e c e ip t s
a t a ll th e t o w n s h a s b e e n 0 6 ,0 2 0 b a le s m o re t h a n th e s a m e
w e e k la s t y e a r .
O V ERLA N D M O VEM EN T FO R TH E W EEK AND
S I N C E S E P T . 1 . — W e g iv e b e lo w a s t a t e m e n t s h o w in g
t h e o v e r l a n d m o v e m e n t f o r t h e w e e k a n d s in c e S e p t 1 a s
m a d e u p fro m te le g r a p h ic r e p o r t s F r id a y n ig h t.’ T h e
r e s u l t s f o r t h e w e e k a n d s in c e S e p t . 1 i n t h e l a s t t w o y e a r s
a r e a s fo llo w s :
y 1
-1 9 0 8 V ia
V ia
V ia
V ia
V ia
V ia
V ia
S in c e
S ep t. l .
W eek.
--1 9 0 7 S in c e
S ep t. 1.
W eek.
S t. L o u is .......................................... 3 0 ,744
C a i r o .......................................... . . . 1 1 , 3 2 3
lt o c k I s la n d __________________ 1,136
L o u is v i ll e -------------------------------- 3,8 1 3
C in cin n a ti.......... ......................
3 ,8 7 2
V irginia ponts - _____
8,324
o th e r r o u te s , & c ------------1 0 ,3 4 8
260 ,195
161,237
4,578
35,636
21,132
44,437
1 0 2 ,0 2 2
11,989
9,491
620
1,493
721
3,186
9,488
ov erla n d ___________ 69,562
6 5 8 ,2 3 7
36,9 8 8
324 ,800
60,107
19,628
14,436
3.1 0 8
4.311
1,085
20,249
31,116
24,872
T o ta l gross
D educt s h ip m e n ts—
O verlan d to N . Y . , B o s to n , & c . . 7 ,1 8 6
B etw een In terior t o w n s ___________ 1,486
In la n d , & c ., fro m S o u t h __________
780
T o t a l to be d e d u c t e d ___________ 9 ,4 5 8
94,171
L e a v in g to ta l n et overla n d * . .............6 0 ,1 0 4
5 6 4 ,0 6 6
134,018
06,182
3,837
2 1 ,9 7 0
12,206
26,362
60,225
8,5 0 4
28,4 8 4
85,237
239,563
* In clu d in g m o v e m e n t b y rail t o C a n a d a .
T h e fo r e g o in g s h o w s th e w e e k ’s n e t o v e r la n d m o v e m e n t
h a s b e e n 60,104 b a l e s , a g a i n s t 2 8 , 4 8 4 b a l e s f o r t h e w e e k
la s t y e a r , a n d t h a t fo r th e s e a so n to d a te th e a g g re g a te
n e t o v e r la n d e x h ib it s a n e x c e s s o v e r a y e a r a g o o f 3 2 4 ,5 0 3
b a le s .
190 8I n S ig h t a n d S p i n n e r s '
T a k in g s.
W eek.
-1 9 0 }
S in c e
. ..
S ep t. 1
R e c e ip ts a t p o r ts to D e c. 11............... 4 0 6 ,2 6 6 5 ,2 3 2 ,2 9 5
N et ov e r la n d to D e c . 1 1 . . . .......... ..
60,1 0 4
564 ,0 6 6
S ou th ern c o n s u m p tio n to D e c. 1 1 . . 4 8 ,0 0 0
6 3 0 ,0 0 0
--
15,107
-5 2 9 ,4 7 7
.1 0 9 ,5 2 1
6,4 2 6 ,3 6 1
7 4 6 ,5 2 6
4 3 0 ,6 4 5 4 ,9 8 4 ,8 4 0
27,4 0 2
443,253
4 58 ,047
7 ,1 7 2 ,8 8 7
1 ,1 5 7 ,2 3 5
5,4 2 8 ,0 9 3
37,1 7 7
6 2 0 ,4 3 8
M o v e m e n t in to s ig h t in p r e v io u s y e a r s :
W eek —
! o S ? _ n eC'
D a le s
\r.............................. 557 ,580
1 9 0 5 — D e c . 1 5 ------------------------------- 3 9 5 , 5 7 4
1 9 0 4 — D e c . 1 6 ................................. . 4 3 0 : 5 5 6
S in c e S e p t . 1
1906— D e c. 1 4 .
1905— D e c. 1 5 .
1904— D e c. 1 6 .
8y
9
9.35
9
9.50
8 15-16
9
9 'A
8%
9.25
9
9.5 0
8%
9 1-16
9M
8%
8%
sy
8%
8 13-16
8 11-16
8 9-16
8
8%
9
9.25
9
9.40
9
9
'A
VH
8y
sy
F r id a y .
8 13-16
8M
8 9-16
8 7-16
8H
8%
8 13-16
9.15
9 .3 5
8 15-16
8y
9 !4
8 12-16
8X
F r id a y ,
D e c . 11.
8 .6 2 -.6 8
8 .6 2 -.6 3
8 .5 8 8 .5 9 -
.65
8 .5
2 -.7 5
.61 .75
8 .73-
8 .5 4 8 .5 4 -
.64
8 .4
9 -.6 2
. 55
8.5
9 —
8 .6 8 -.7 4
8 .7 1 -.7 2
8 .6 3 -.7 0
8 .6 5 -.6 6
8 .6 1 8 .6 2 -
.67
8 .5
3 -.7 5
.63
8 .7
4 -.7 5
8 .5 5 8 .5 5 -
.72
8 .4
8 -.5 7
.56
8 .5
4 -.5 6
8.7 2
8 .6 6
8.6 3
8 .7 4
8 .5 5
*
8.79-.81
8.77 -.8 4
8 .8 1 -.8 2
*
8 .6 7 -.7 5
8 .6 9 -.7 0
— @
8 .7 0
—
*
8.71,-.78
8 .7 2 -.7 3
D a le s .
-6 ,8 2 1 ,4 3 7
.6 ,2 3 9 ,8 4 4
-7 ,0 8 8 ,8 2 6
■
*
8 .6 3 -.7 0
8 .6 4 -.6 5
*
8 .5 6 -.8 1
8 .7 9 -.8 0
— ® ——
*
8 .6 0 -.7 7
8 .6 0 -.6 1
8 .6 7 -.6 9
@ —
8 .8 0 *
8.61
8 .6G-. 75
8 .6 7 -.6 8
8 .6 0 -.8 6
8 .8 4 -.8 5
8.6 5-.83
8.6 6 —
8.6 7
•
—
®—
8 .5 5 •
8 .5 3 -.6 3
8 .6 0 -.6 1
8.61
•
8 .6 0 - 69
8 .6 5 -.6 6
@
8 .8 5 -.8 7
8.74
8 .6 9 -.7 1
8.84
8 .8 5 -.9 2
8.90-.91
8 .8 0 -.8 8
8 .8 1 -.8 2
8 .7 4 -. 84
8 .7 5 -.7 6
8 .6 9 -. 94
8 .7 3 -.9 4
8 .7 5 -.91
8 .7 5 -.7 6
8 .6 9 -.7 6
8 .7 4 -.7 5
8 .4 8 -.5 4
8 ,5 1 -.5 2
8 .4 4 8 .4 4 -
.50
8 .4
0.45
8 .4
1-
.46
8 .3
5 -.5 7
.42
8 .5
5 -.5 6
8 .4 0 -.5 1
8 .3 9 -.4 0
8 .3 3 -.4 2
8 .3 8 -.3 9
D u ll.
S te a d y .
S te a d y .
S te a d y .
E a sy.
S te a d y .
Q u iet.
S te a d y .
—
*
S p o t __________ S te a d y .
Q u ie t.
O p tion s ______ B ’ly s t ’y S te a d y .
D ecem ber 1 1 —
S h ip p ed —
8%
8 13-16
8 11-16
8 9-16
8 yt
8%
T u e s d a y , W e d ’d a y , T h u r s d ’y
D e c . 8.
D e c . 9.
D e c . 10.
8 .7 3 -. 79
8 .7 6 -.7 7
A p r il—
Z
9
9.35
9
9 .6 0
9
9
S a t 'd a y ,
R a n g e _____
C losin g_____
a<0:
8%
8y
8y
8%
8%
8y
D ecem ber—
COOOO(OM O«OiOC\|OOMoOcOCO O C3 h o COO COCMO O O t>* COO 03 h CO
H O O cD Q O C10TfTj<Tfp.rH05o00303 ^ ^ ? 9 00®2rHC0 T*,<Vl'®®»tN
*rHt>.000
<0*0 O 00 COO COO O COCOCOO* rH F» 03 Ot^r^OSTTOOcOCSrHCVlTfOrfOO
U- COrr rH 03 CVJ CVJrH oo’ o ’ t^*o ’ CC t}To '
■*a a
T u e s d a y . W e d ’d a y . T h u r s d ’ y .
8 V,
8H
8y
sy
8 y,
8 ys
N E W O R L E A N S O P T IO N M A R K E T .— T h e h ig h e s t,
lo w e s t a n d c lo s in g q u o t a t io n s fo r le a d in g o p tio n s in th e N e w
O r le a n s c o t t o n m a r k e t f o r t h e p a s t w e e k h a v e b e e n a s f o l l o w s :
H O H O iO iO O M O O O O c O tO O T f
2 t^ 9 ° C3^ OCNlT^^^^0003rHOO
03030o0 03rHOOOO
0^oOH M rjtoi00005«3n*i005N 9
^ O 03
H,'0
r ^O'0CV*Q0CM
rHrHC0rHO
00C\|rHrHCOT}«<OO3
o f - r^ t^oi>c\joot^c\] »0iF*CM
S o i <6 ° ® 1
O h» COo ----------w I^co
CMF- tO COCM
O >0 COCO Ot^OrHCMrH
TjTcOO F-COrHCMCM©
»OcO
cog^
o o eo o © o o oo co <o rH rH
M O CO H H IO O COHCOM
M onday.
CO
O r ? C 3 O 00 0 0 O O f3 c 0 O H O N 0 3 r )<
0 0 3 «0 0 0 3 b > .0 c v ji0 c 0 » 0 0 0 3 c 0 c 0 0 3 COOrH^OCVlCOTfO^NCVKOOCOCO
O ^ O H O O O O r f O O h D iOP. iO
f^rHrHrH eo tN
*»O00COrHt'«.O5rH^|«O
»0 lO rH lO O COrH O COF- *0 rH rH o CO*C3 03 0 5 c 0 0 0
00 00 00
0 rH CMCOCMrH CO>0
rHrHC\JrHrHrHC\lMcO
Mo o o o M« c o o ^ o «
S a t ’d a y .
G a lv e s t o n _____
9
N ew O rlean s___ 8 13-16
M o b i le _________
8y
S av annah _____
8 }j
C h a r l e s t o n ___
85i
W ilm in g to n ____ 8 X
N o r f o l k ____ __
9
B o sto n ____ .
9 35
B a ltim o re ___
9
P h ila d e lp h ia ___ 9.60
A u g u s t a ___, ,
9
M e m p h is _____
9
S t. L o u is _______ 9 K
H o u s t o n _____
SH
L ittle R o c k ____ 8 %
o o o o c o d , H ( o o h c i o a a r : - r i : i H i , 'j o i '. r : N « o N ^ T ! ( . n ^ N i 'i ^
1 03 CVJ O CO «0 r - r H CO r>» rH C3 CM rH o C O O CM*CO C3r^*t>T«0*0*»0
C l o s i n g Q u o t a tio n s f o r M i d d l i n g C o t t o n o n —
—
^ ^ n rtrtO O oO H O O cO sO H T fO O H N H O O O H rfo lOOCMO CJCM
C O O t^ I^ > O O O C 3r^ cO ^ T -.cO O C t^ O O C 3 -^ O O oO »0^ cO ^ ■^
X X
^ O rH
0 < 0 00 r^cv^co »Oc0»O'^00O»OOC3OC0^CVl
iO b O O
O tJ*COC3
Q U O T A T IO N S F O R M ID D L IN G C O T T O N A T O T H E R
M A R K E T S . — B e l o w a r e t h e c lo s n g q u o t a t o n s o f m i d d l i n g
c o tto n a t S o u th e rn a n d o th e r p r in c ip a l c o tto n m a r k e ts fo r
e a c h d a y o f th e w e e k .
W e e k e n d in g
D e c e m b e r 11.
O cO N c O C J O O q 'rH iO rl' -d* O COF- O O rH C3 O COIs*CMF'* O CMO CMiO lO co t-h
M ^ M O O O O T f H i C O T j '^ O O O O O i i O o O H O P S H O O M i O J O H ^ O o S
CO O COCO00 »0 50 O O t-HtHrH00 rHCMCOCM rH rHO lO C5 COCM00 CO00 r f «0
CM
lVOL. LXXXVI1.
*
*
8.6 8
*
W E A T H E R R E P O R T S B Y T E L E G R A P H .— O u r re
p o rts b y t e le g r a p h fro m th e S o u t h t h is e v e n in g in d ic a te t h a t
a s a ru le th e w e a t h e r h a s b e e n q u it e s a t is f a c t o r y th e p a s t
w e e k . R a in h a s b e e n q u it e g e n e r a l, b u t m o d e r a te o r lig h t
a s a r u le . T h e m o v e m e n t o f th e c ro p c o n tin u e s v e r y lib e r a l.
Galveston, Texas. — T h e r e h a s b e e n r a i n o n f o u r d a y s o f t h e
w e e k , th e p r e c ip ita tio n r e a c h in g o n e in c h a n d tw e n ty - n in e
h u n d r e d t h s . T h e t h e r m o m e t e r h a s a v e r a g e d 5 9 , t h e h ig h e s t ,
b e in g 7 2 a n d t h e lo w e s t 4 6 .
&
Abilene, lexas. D r y a l l t h e w e e k .
The th e rm o m e te r
h a s a v e r a g e d 5 0 , r a n g in g fro m 3 2 to 6 8 .
Corpus Christi, Texas.— T h e r e h a s b e e n r a i n o n o n e d a y
o f t h e p a s t w e e k , th e r a in f a ll b e in g s ix t y - t w o h u n d r e d t h s
o f a n in c h . T h e t h e r m o m e te r h a s r a n g e d fr o m 46 to 70
a v e r a g in g 5 8 .
Fort Worth, Texas. — I t h a s r a i n e d t o a n i n a p p r e c i a b l e
e x t e n t o n one d a y o f th e w e e k . A v e r a g e th e r m o m e te r 46
h ig h e s t 6 4 , lo w e s t 2 8 .
Palestine, Texas.— W e h a v e h a d r a i n o n t h r e e d a y s d u r i n g
th e w e e k , th e p r e c ip it a t io n b e in g t h ir t e e n h u n d r e d t h s o f a n
in c h .
I h e t h e r m o m e t e r h a s a v e r a g e d 4 9 , t h e h i g h e s t b e in g
6 6 a n d th e lo w e s t 3 2 .
San Antonio, Texas.— -T h e w e e k ’s r a i n f a l l h a s b e e n o n e
in c h a n d t h ir t y - n in e h u n d r e d t h s , o n tw o d a y s . T h e t h e r m o
m e t e r h a s a v e r a g e d 5 8 . r a n g in g fr o m 40 to 7 6 .
Taylor, Texas. - —W e h a v e h a d r a i n o n o n e d a y d u r i n g t h e
w e e k , th e p r e c ip ita tio n r e a c h in g t h ir t y - fo u r h u n d r e d th s
o f a n in c h . T h e th e rm o m e te r h a s r a n g e d fro m 3 6 to 7 2 ,
a v e r a g in g 5 4 .
New Orleans, Louisiana.— W e h a v e h a d r a i n o n t w o d a y s
d u r in g th e w e e k , th e r a in f a ll b e in g o n e in c h a n d e ig h t h u n
d re d th s. A v e ra g e th e rm o m e te r 5 9 .
Shreveport, Louisiana.— T h e r e h a s b e e n r a i n o n o n e d a y
o f th e w e e k , th e p r e c ip ita tio n r e a c h in g t h ir t y - s e v e n h u n
d re d th s o f a n in c h . T h e th e r m o m e te r h a s a v e r a g e d 50
t h e h ig h e s t b e in g 6 8 a n d th e lo w e s t 3 2 .
Vicksburg, M ississippi.— Wo h a v e h a d r a i n o n t w o d a y s
d u r in g th e w e e k , th e r a in fa ll b e in g o n e in c h a n d e ig h t y e ig h t h u n d re d th s . A v e r a g e th e r m o m e te r 5 3 , h ig h e s t 7 2 ,
lo w e s t 3 8 .
Helena, Arkansas.— 'P i c k i n g l i g h t . W e h a v e h a d r a i n
o n tw o d a y s o f th e w e e k , th e p r e c ip it a t io n r e a c h in g o n e in c h
a n d t w e n t y - fiv e h u n d r e d t h s . T h e t h e r m o m e te r h a s a v e r
a g e d 4 2 . 1 , t h e h i g h e s t b e in g 5 9 a n d t h e l o w e s t 2 7 .
Little Rock, Arkansas.— R a i n f a l l f i f t y h u n d r e d t h s o f a n
in c h o n tw o d a y s o f th e w e e k . A v e r a g e th e r m o m e te r 4 7 ,
h ig h e s t 6 2 , lo w e s t 3 2 .
Memphis, Tennessee.— W e h a v e h a d r a i n o n t w o d a y s
d u r in g th e w e e k , th e p r e c ip ita tio n r e a c h in g s ix t y - e ig h t
h u n d r e d th s o f a n in c h . T h e th e rm o m e te r h a s ra n g e d fro m
3 0 .5 to 5 8 , a v e r a g in g 4 4 .2 .
THE CHRONICLE
Deo. 12 1908.J
Mobile, Alabama.— C o t t o n i s m o v i n g f r e e l y . W e h a v e
h a d r a in o n tw o d a y s o f th e w e e k , th e p r e c ip ita t io n r e a c h in g
tw e n ty - th r e e h u n d re d th s o f a n in c h . T h e th e rm o m e te r
h a s a v e r a g e d 5 0 , th e h ig h e s t b e in g 7 0 a n d t h e lo w e s t 3 7 .
Montgomery, Alabama.— W e h a v e h a d r a i n o n t w o d a y s
o f t h e p a s t w e e k , th e r a in f a ll b e in g n in e t e e n h u n d r e d t h s o f
a n in c h . T h e t h e r m o m e te r h a s a v e r a g e d 5 1 , r a n g in g fro m
3 1 to 0 8.
Madison, Florida.— W e h a v e h a d n o r a i n d u r i n g t h e w e e k .
A v e r a g e th e rm o m e te r 5 0 , h ig h e s t 7 0 , lo w e s t 3 4 .
Augusta, Georgia.— R a i n h a s f a l l e n o n o n e d a y o f t h e w e e k
to t h e e x t e n t o f t w e n ty - tw o h u n d r e d th s o f a n i n c h . A v e r a g e
t h e r m o m e te r 4 8 , h ig h e s t 6 7 , lo w e s t 3 1 .
Savannah, Georgia.— I t h a s r a i n e d o n t w o d a y s d u r i n g
t h e w e e k , t h e r a in f a ll b e in g t h ir t y - o n e h u n d r e d t h s o f a n
in c h . T h e th e r m o m e te r h a s a v e r a g e d 5 4 , r a n g in g fro m
3 5 to 76 .
Charleston, South Carolina.— T h e r e h a s b e e n a t r a c e o f
r a in o n o n d a y o f t h e p a s t w e e k . T h e t h e r m o m e t e r lia s
ra n g e d fro m 3 8 to 7 4 , a v e r a g in g 5 6 .
Greenwood, South Carolina.— W e h a v e h a d r a i n o n o n e
d a y d u r in g th e w e e k , th e r a in f a ll b e in g s ix t y - o n e h u n d r e d t h s
o f a n in c h . A v e r a g e th e r m o m e te r 4 2 , h ig h e s t 5 1 , lo w e s t 3 3 .
Charlotte, North Carolina.— I t h a s r a i n e d o n o n d a y o f t h e
w e e k , th e r a in fa ll r e a c h in g th ir ty -o n e h u n d re d th s o f a n
in c h . A v e r a g e th e r m o m e te r 4 2 , h ig h e s t 5 5 , lo w e s t 3 0 .
T h e fo llo w in g s ta t e m e n t w e h a v e a ls o r e c e iv e d b y t e le
g r a p h , s h o w in g th e h e ig h t o f r iv e r s a t th e p o in t s n a m e d a t
8 a . m . o f th e d a te s g iv e n :
N e w O r l e a n s ____________ A
M e m p h i s _________________ A
N a s h v i l l e _________________ A
S h r e v e p o r t ............................ A
V i c k s b u r g ________________A
b
b
b
b
b
ove
ove
ove
ove
ove
zero
zero
zero
zero
zero
of
of
of
of
of
gau
gau
gau
gau
gau
D e c . 11 1 9 0 8 .
F eet.
5 .1
8 .0
9 .7
9 .9
1 8 .1
IN D IA C O T T O N M O V E M E N T
FRO M
S in c e
S e p t. 1.
R e c e i p t s a t—
W eek.
PO RTS.
1906.
S in c e
S ep t. 1.
W eek.
2 2 5 ,0 0 0
4 4 ,0 0 0
B om bay.
ALL
1907.
1908.
D ecem ber 1 0 .
D ec. 13 1 9 0 7 .
F eet.
5 .2
o .u
8 .8
4 .2
1 4 .l
ge.
ge.
ge.
ge.
ge.
6 5 ,0 0 0
S in c e
S ep t. 1.
W eek.
9 4 ,0 0 0
3 0 1 ,0 0 0
3 9 7 ,0 0 0
S in c e S e p t e m b e r 1 .
F o r th e W e e k .
W O R L D ’S S U P P L Y
1553
AND
T A K IN G S O F C O T T O N .
1907.
1908.
C o tto n T a k in g s .
W e e k a n d S ea son .
W eek.
4 ,0 5 3 ,5 1 2
4 ,7 4 2 ,2 9 2
V i s i b l e s u p p l y S e p t . 1 ____________
A m e r i c a n i n s i g h t t o D e c . 1 1 ____
B o m b a y r e c e i p t s t o D e c . 1 0 _____
O th e r In d ia s liip ’ ts t o D e c . 1 0 . _
A le x a n d r ia r e c e ip ts t o D e c . 9 . .
O t h e r s u p p l y t o D e c . 9 * -------------
5 2 9 ,4 7 7
4 4 .0 0 0
5 ,0 0 0
6 9 .0 0 0
1 0 .0 0 0
S ea so n .
W eek.
S ea so n .
1 ,7 1 4 ,9 8 2
7 ,1 7 2 ,8 8 7
2 2 5 .0 0 0
7 9 ,0 0 0
4 2 8 .0 0 0
1 0 4 .0 0 0
4 5 8 ,0 4 7
6 5 .0 0 0
7 ,0 0 0
4 9 .0 0 0
1 3 .0 0 0
2 ,2 9 1 ,8 4 4
5 ,4 2 8 ,0 9 3
3 0 1 .0 0 0
7 8 ,0 0 0
5 1 8 .0 0 0
1 2 9 .0 0 0
9 ,7 2 3 ,8 6 9 4 ,6 4 5 ,5 5 9
8 ,7 4 5 ,9 3 7
D ed u ct—
V i s i b l e s u p p l y D e c . 1 1 ------------------- 4 , 9 3 3 , 8 0 8
4 ,9 3 3 ,8 0 8 4 ,2 4 2 ,3 2 4
4 ,2 4 2 ,3 2 4
T o t a l t a k i n g s t o D e c . 1 1 ------------O f w h i c h A m e r i c a n ......... ..............
O f w h i c h o t h e r -------------------------------
4 .7 9 0 .0 6 1
3 .9 5 8 .0 6 1
8 3 2 ,0 0 0
4 0 3 .2 3 5
2 9 3 .2 3 5
1 1 0 ,0 0 0
4 .5 0 3 .6 1 3
3 .3 9 3 .6 1 3
1 ,1 1 0 ,0 0 0
T ota l
s u p p l y ....................................... 5 , 3 9 9 , 7 6 9
4 6 5 .9 6 1
3 8 0 .9 6 1
8 5 ,0 0 0
iE m b r a c e s r e c e ip ts in E u r o p e fr o m
B r a z il, S m y r n a , W e s t I n d ie s , & c .
C E N S U S B U R E A U ’S R E P O R T O N C O T T O N G IN N IN G .
— T h e D iv is io n o f M a n u fa c tu re s in th e C e n su s B u r e a u c o m
p le t e d a n d is s u e d o n D e c . 8 t h e s ix t h o f i t s s e r ie s o f r e p o r t s
o n c o tto n g in n in g th e p r e s e n t s e a s o n a s fo llo w s ( c o u n tin g
ro u n d a s h a lf- b a le s a n d e x c lu d in g lin t e r s ) :
P e r C ent of
C r o p G in n e d
to D e c . 1 .
-G i n n e d to D e c e m b e r 1 -------1908.
1907.
1906.
S ta t e a n d T e r r i t o r y .
_______
U n i t e d S t a t e s ________ 1 1 , 0 1 0 , 8 6 4 8 , 3 4 3 , 3 9 6 1 0 , 0 2 7 , 8 6 8
1 ,0 1 8 ,9 5 5
A l a b a m a _________________ 1 , 1 7 1 , 4 0 4
8 5 6 ,5 9 6
5 7 0 ,9 2 4
7 7 6 ,1 5 3
4 8 4 ,1 8 1
A r k a n s a s _______________
5 0 ,0 2 8
5 8 ,6 7 7
4 0 ,6 8 1
F l o r i d a ---------------------------1 ,3 9 1 ,2 2 4
G e o r g i a ---------------------------- 1 , 7 3 6 , 7 3 7 1 , 5 1 8 , 1 9 9
K an sas, K en tu ck y &
N e w M e x i c o ________
983
1 ,3 7 4
1 ,0 5 1
6 7 2 ,8 7 3
L o u is ia n a
3 9 7 ,1 7 9
4 2 4 ,4 3 3
1 ,0 0 7 ,8 7 9
M is s is s ip p i
9 5 5 ,4 1 4
1 ,2 9 7 ,2 9 1
2 8 .6 0 4
M is s o u ri . . .
2 0 ,2 9 8
4 5 ,7 5 0
4 9 0 ,5 4 0
N o r t h C a r o lin a
■ 5 5 4 ,0 0 2
4 6 8 ,4 4 7
4 3 2 ,.0 7 7
5 7 4 ,0 4 3
5 9 8 ,7 2 3
O k la h o m a
7 6 9 ,7 8 5
S o u t h C a r o l i n a _______ 1 , 0 5 2 , 5 4 7
9 4 3 ,8 6 8
1 7 7 ,0 4 8
1 8 4 ,2 4 2
T e n n e s s e e _______________
2 7 8 .6 7 9
3 ,2 5 7 ,0 0 9
T e x a s ..................... .............. 3 , 2 0 0 , 2 2 1 1 , 8 4 9 , 2 6 2
1 0 ,7 8 7
8 ,7 7 3
5 ,1 9 5
V ir g in ia
1907.
7 5 .5
7 7 .0
6 4 .4
7 1 .8
8 1 .6
4 5 .5
6 4 .1
6 6 .2
5 9 .5
7 3 .4
7 0 .5
8 1 .1
6 0 .5
8 3 .8
5 4 .1
A c tiv e
G in
n er ie s.
1 9 0 6 . 0 ,1 9 0 8 .
7 7 .2 2 6 ,9 2 2
8 2 .1
3 ,4 2 9
2 ,0 7 3
6 3 .8
251
8 1 .4
4,381
8 5 .2
5 1 .2
7 0 .4
6 7 .9
5 5 .3
8 0 .3
6 5 .8
8 4 .4
6 2 .9
8 2 .3
7 3 .9
1 ,6 4 5
3 ,4 2 2
70
2 ,6 8 1
973
3 ,1 8 4
625
4 ,0 9 1
92
T h e s t a t is t ic s o f t h is r e p o r t I n c lu d e 2 0 0 ,8 1 8 r o u n d b a le s f o r 1 9 0 8 , 1 5 4 ,6 3 6
f o r 1 9 0 7 a n d 2 2 7 ,1 4 5 f o r 1 9 0 6 .
T h e n u m b e r o f S e a I s l a n d b a l e s I n c l u d e d Is
6 8 ,4 0 7 f o r 1 9 0 8 , 5 5 ,2 9 9 f o r 1 9 0 7 a n d 4 1 ,2 5 0 f o r 1 9 0 6 .
T h e d is t r ib u t io n
o f t h e S e a I s la n d c o t t o n f o r 1 9 0 8 b y S t a t e s is : F lo r id a , 2 8 ,0 0 3 ; G e o r g ia ,
3 2 ,1 5 5 ;
S o u t h C a r o lin a , 8 ,3 3 9 .
S t a t is t ic s In t h e r e p o r t f o r 1 9 0 8 a r e
s u b je c t t o s lig h t c o r r e c tio n s w h e n c h e c k e d a g a in s t th e in d iv id u a l r e tu r n s
o f g in n e r s b e in g t r a n s m it t e d t o t h e B u r e a u b y m a il.
T h e co rre cte d
s t a t is t ic s o f t h e q u a n t i t y o f c o t t o n g in n e d t h is s e a s o n t o N o v .
14 a re
0 ,5 9 5 ,8 0 9 .
E x p o r ts fr o m —
C o n ti
n en t.
G reat
B r ita in .
B om bay—
1008 . .
. _______
1 9 0 7 ________________
1 9 0 6 _______________
C a lc u t t a —
1 9 0 8 _______________
1 9 0 7 ............ ..............
1 9 0 6 ________________
M adras—
1 0 0 8 ________________
1 9 0 7 ..............................
1 9 0 6 ________________
A ll o th e r s —
1 9 0 8 ____________ .
1 9 0 7 ________________
1 9 0 6 ________________
T o ta l.
A L E X A N D R IA
T o ta l.
2 ,0 0 0
5 ,0 0 0
9 6 ,0 0 0
1 2 0 ,0 0 0
1 7 0 ,0 0 0
9 6 ,0 0 0
1 2 2 ,0 0 0
1 7 5 ,0 0 0
2 ,0 0 0
2 ,0 0 0
4 ,0 0 0
1 ,0 0 0
1 ,0 0 0
9 ,0 0 0
8 ,0 0 0
1 4 ,0 0 0
1 3 ,0 0 0
9 ,0 0 0
1 5 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
2 ,0 0 0
6 ,0 0 0
1 ,0 0 0
7 ,0 0 0
1 6 ,0 0 0
7 ,0 0 0
9 ,0 0 0
2 2 ,0 0 0
8 ,0 0 0
5 .0 0 0
6 .0 0 0
5 .0 0 0
6 .0 0 0
4 ,0 0 0
6 ,0 0 0
2 ,0 0 0
5 3 ,0 0 0
4 1 ,0 0 0
4 1 ,0 0 0
5 7 ,0 0 0
4 7 ,0 0 0
4 3 ,0 0 0
8 ,0 0 0
1 7 .0 0 0
1 7 .0 0 0
8 ,0 0 0
1 8 ,0 0 0
1 7 ,0 0 0
1 5 .0 0 0
1 5 .0 0 0
9 ,0 0 0
1 6 5 ,0 0 0
1 8 5 ,0 0 0
2 3 2 ,0 0 0
1 7 5 ,0 0 0
2 0 0 ,0 0 0
2 4 1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
C o n ti
n en t.
3 ,0 0 0
1 1 ,0 0 0
1 4 ,0 0 0
3 ,0 0 0
1 1 ,0 0 0
1 4 ,0 0 0
T o t a l a ll—
1 9 0 8 _______ _____
1 9 0 7 ________________
1 9 0 6 _______________
G rea t
B r ita in .
R E C E IP T S
AND
S H IP M E N T S .
A le x a n d r ia , E g y p t,
D ecem ber 9 .
1908.
1907.
1906.
R ec e ip ts ( c a n t a r s ) —
T h i s w e e k . --------------------S i n c e S e p t . 1 ------------------
4 2 0 ,0 0 0
3 ,2 1 3 ,9 2 0
3 6 0 ,0 0 0
3 ,8 8 7 ,5 4 6
3 8 0 ,0 0 0
3 ,8 3 0 ,3 0 4
T h is
w eek.
E x p o r ts (b a le s ) —
T
T
T
T
o
o
o
o
T h is
w eek.
S in c e
S ep t. 1.
S in c e
S ep t. 1.
T h is
w eek.
S in c e
S ep t. 1.
6 1 ,5 6 1
5 5 ,9 3 6
9 9 ,9 3 8
1 5 ,3 8 3
9 ,0 0 0 1 0 2 ,5 1 0
9 ,5 0 0
9 0 ,3 6 9
1 5 ,2 5 0 1 1 7 ,5 2 9
2 ,7 5 0
1 9 ,0 5 5
8 ,2 5 0 1 0 1 ,4 8 9
7 7 ,6 4 8
8 .5 0 0
1 6 ,7 5 0 1 2 2 .9 7 7
2 0 ,8 8 2
7 .5 0 0
T o t a l e x p o r t s ------------------ 4 6 , 7 5 0 2 3 2 , 8 1 8
3 6 ,5 0 0 3 2 9 ,4 6 3
4 1 ,0 0 0 3 2 2 ,9 9 6
9 ,2 5 0
L i v e r p o o l -------------------------M a n c h e s t e r --------------------- 1 7 . 2 5 0
C o n t i n e n t ----------------------- 1 9 . 2 5 0
1 ,0 0 0
A m e r i c a ----------------------------
N o t e .— A
c a n t a r Is 9 9 l b s .
E g y p t ia n b a le s w e ig h a b o u t 7 5 0 lb s .
M A N C H E S T E R M A R K E T . — 'O u r r e p o r t r e c e i v e d b y
c a b le t o - n ig h t fr o m M a n c h e s t e r s t a t e s t h a t t h e m a r k e t is
q u ie t fo r b o th y a r n s a n d s h ir tin g s .
T h e d e m a n d fo r b o th
h o m e t r a d e a n d fo r e ig n m a r k e t s is p o o r . W e g iv e th e p r ic e s
fo r t o - d a y b e lo w a n d le a v e t h o s e fo r p r e v io u s w e e k s o f
t h is a n d la s t y e a r fo r c o m p a r is o n .
1907.
1908.
lbs. Shirt- Col'n
inas, common MW.
to finest
UpVs
lbs. Shirt* Col'n
Inos, common Mi’d.
Upl's
to finest.
8*4
$2* Cop
Twist.
d. s .
d.
30
6
13
20
27
4
ii
8 *4
9 *4 5
8*4
8*i
8
7 *4
©
0*4 5 1 ©
5
0
©
9
8 H 4 10*4 ©
©
8 *4 4 1 0
©
©
©
7U
©
7 9 -1 6 ©
8 *4 4
8 *4 4
s.
d.
©
1*4 @ 8
8
8
8
8
9
@8
7 *4 0 3
8 *4
32* Cop
Twist.
d.
d.
6
4 .9 9 10 9 - 1 6 ©
11*4 6
6
6
6
6
5 .0 0
5 .0 5
5 .0 7
5 .0 8
10W
10*4
10*4
10*4
©
©
©
©
11*4
11*4
11*4
11*4
4 *4
4*4
4 .9 7 10*4
4 .8 6 10*4
©
©
11*4 6
11*4 6
d.
d . s. d .
6
6
6
6
1*4©
1
1
1
1*4
©
©
©
@
9
9
9
9
1*4 © 9
1*4 © 9
s. d .
d.
9
11
5 .9 3
10
9
8
7 *4
5 .9 1
5 .8 7
6 .0 0
6 .1 8
6
6
6 .3 5
6 .3 8
A G R IC U L T U R A L D E P A R T M E N T ’S C O T T O N C R O P
E S T I M A T E .— T h e r e p o r t o n c o tto n is s u e d b y th e A g r ic u l
t u r a l D e p a r t m e n t o n D e c . 9 is a s fo llo w s :
T h e C r o p R e p o r t in g B o a r d o f th e B u r e a u o f S t a tis t ic s o f th e U n ite d
S ta te s D e p a r tm e n t o f A g r ic u ltu r e e s tim a te s , fr o m
th e r e p o rts o f th e
c o r r e s p o n d e n ts a n d a g e n ts o f th e B u r e a u , th a t th e t o t a l p r o d u c t io n o f
c o t t o n In t h e U n i t e d S t a t e s f o r t h e s e a s o n 1 9 0 8 - 0 9 w i l l a m o u n t t o 6 , 1 8 2 ,
9 7 0 ,0 0 0 p o u n d s (n o t in c lu d in g lin t e r s ), e q u iv a le n t t o 1 2 ,9 2 0 ,0 0 0 b a le s o f
5 0 0 p o u n d s , g ro s s w e ig h t.
T h e e s t i m a t e d p r o d u c t i o n i n 5 0 0 - p o u n d g r o s s - w e i g h t b a l e s , b y S t a t e s , Is
a s fo llo w s :
4 7 2 ,0 0 0
V i r g i n i a ......... ...................................
1 3 , 0 0 0 L o u i s i a n a _____________________
N o r t h C a r o l i n a _______________
6 1 9 , 0 0 0 T e x a s .......... ..................................... - 3 , 9 1 7 , 0 0 0
S o u t h C a r o l i n a _________________ 1 , 1 1 8 , 0 0 0 A r k a n s a s _______________________ 1 , 0 0 9 , 0 0 0
3 4 0 ,0 0 0
G e o r g i a ________________________ 1 , 8 4 4 , 0 0 0 T e n n e s s e e _____________________
5 4 ,0 0 0
F l o r i d a -------------------------------------6 1 , 0 0 0 M i s s o u r i _______________________
6 4 0 ,0 0 0
A l a b a m a -----------1 , 2 7 3 , 0 0 0 O k l a h o m a _____________________
M i s s i s s i p p i .......................
1 ,5 6 0 ,0 0 0
................1 2 , 9 2 0 , 0 0 0
U n i t e d S t a t e s ____________________________
A s a m a t t e r o f in t e r e s t in c o n n e c tio n w it h th e fo r e g o in g
r e p o r t , w e s u b jo in a s t a t e m e n t s h o w in g fo r a e r ie g o f y e a r s
t h e a n n u a l c r o p e s t i m a t e s o f t h e D e p a r t n ent o f A ^ n c u l t u r e
.
a n d th e fin a l c o m m e r c ia l c r o p a s c o m p ile d b y u s .
1 9 0 8 - 0 9 ________________________ ____________ b a l e s .
1 9 0 7 - 0 8 _________
1 9 0 6 - 0 7 _________________________
1 9 0 5 - 0 6 .......................
1 9 0 4 - 0 5 ................................................
1 0 0 3 - 0 4 ______________________________
1 9 0 2 - 0 3 - ................- ............................ - .............. - ..............
1 9 0 1 - 0 2 ____________________________________
1 9 0 0 - 0 1 ....................
1 8 9 9 - 0 0 __________________________________________________
* N o t in c lu d in g lin t e r s .
*D e p a r tm e n t
E stim a te .
1 2 ,9 2 0 ,0 0 0
1 1 ,6 7 8 ,0 0 0
1 2 ,5 4 6 ,0 0 0
1 0 ,1 6 7 ,8 1 8
1 2 ,1 6 2 ,7 0 0
x “ C h r o n ic le ”
C o m m e r c ia l C r o p .
1 1 ,5 8 1 ,8 2 9
1 3 ,5 5 0 .7 6 0
1 1 ,3 1 9 ,8 6 0
1 3 ,5 5 6 ,8 4 1
190, 9
, 16223, ,063896
1 0 ,7 5 8 ,3 2 6
1 0 ,4 1 7 ,0 0 0
9 , 6 7 14 0, 0, 70 00 1 , 4 5 3
1 0 ,4 2 5 ,1 4 1
1 0 ,1 0 0 ,0 0 0
9 ,4 3 9 ,5 5 9
8 ,9 0 0 ,0 0 0
x I n c lu d in g lin te r s .
S H I P P I N G N E W S .— A s sh o w n o n a p r e v io u s p a g e , th e
e x p o r t s o f c o tto n fro m th e U n ite d S t a t e s th e p a s t w e e k h a v e
r e a c h e d 3 8 6 ,1 1 5 b a le s . T h e s h ip m e n t s in d e t a il, a s m a d e
u p fr o m m a il a n d t e le g r a p h ic r e t u r n s , a r e a s fo llo w s :
T o ta l b a le s .
Y O R K — T o L i v e r p o o l — D e c . 5 — C e d r i c , 3 ,4 7 4 u p la n d , 1 7 6
3 ,6 5 0
S e a I s l a n d __________________________ ___________............................ - - - - - -----------1 ,7 0 1
l ' o M a n c h e s t e r — D e c . 9 — K u r d i s t a n , 1 ,4 0 1 u p l a n d , 3 0 0 S e a I s l .
57
T o G l a s g o w — D e c . 5-— C a l i f o r n i a , 5 7 ------------------------------------------------------71
T o H a v r e — D e c . 9 — B r i t a n n i c , 7 1 ------------------------------------------------------------, 100
T o A n t w e r p — D e c . 8 — S a m l a n d , 1 0 0 ------------------------------------------------------300
T o B a r c e l o n a — D e c . 5 — - M o n t s e r r a t , 3 0 0 _____________________________
400
T o G e n o a — D e c . 7 — M o l t k e , 4 0 0 --------------------------------------------------------------T o N a p l e s — D e c . 7 — M o l t k e , 1 0 0 _____ D e c . 8 — P r l n z e s s I r e n e ,
1 ,2 5 0
1 , 0 5 0 ____D e c . 9 — C r e t l c , 1 0 0 ...................... ................... .................................. G A L V E S T O N — T o L iv e r p o o l— D e c . 3 — I n d ia n , 2 0 ,2 7 7 — D e c . 5 —
Ira d a ,
2 1 ,0 5 0 ;
W a y fa re r,
2 3 , 2 9 6 ____D e c .
8 — D r u m e ld r ie ,
7 , 9 9 8 ____D e c . 1 0 — I m a u m , 9 , 5 3 0 ----------------------------------------------------------- 8 2 , 1 5 1
1 ,1 2 7
T o L o n d o n — D e c . 8 — C a y o G i t a n o , 1 , 1 2 7 ____________________________
8 ,7 5 3
T o M a n c h e s t e r — D e c . 8 — G l o r i a d e L a r r i n a g a , 8 , 7 5 3 _____________
T o H a v r e — D e c . 3 — M a d a w a s k a , 1 3 , 2 3 7 ____D e c . 5 — C a m e r o n ,
8 , 5 9 6 ____D e c . 1 0 — M i r a m l c h l , 4 , 5 9 9 _________________________________ 2 6 , 4 3 2
T o B r e m e n — D e c . 3 — I n k u la , 1 4 ,5 7 4
D e c . 8 — C lin t o n la , 1 1 ,
6 1 4 ; S a n n a , 5 , 3 9 9 ________________________ _________________________ ________ 3 1 , 5 8 7
2 ,5 3 6
T o T r i e s t e — D e c . 8 — E m i l i a , 2 , 5 3 6 _____________________________________
1 ,9 6 1
T o H a m b u r g — D e c . 1 0 — B e n L o m o n d , 1 , 9 6 1 -----------------------------------1 ,4 4 6
T o V e n i c e — D e c . 8 — E m i l i a , 1 , 4 4 6 _____________________________________
3 ,3 9 1
T o R e v a l — D e c . 5 — R a m o r e H e a d , 3 , 3 9 1 ____________________________
300
T o N a p l e s — D e c . 7 — I t a l i a , 3 0 0 ............... .............. — -------------- ----------------500
T o R i g a — D e c . 5 — R a m o r e H e a d , 5 0 0 ...........................................................
1 6 ,0 7 4
T o G e n o a — D e c . 7 — I t a l i a , 8 , 6 2 9 ____D e c . 8 — V a l S a l l e e , 7 , 4 4 5 .
T o B a r c e lo n a — D e c . 7 — I t a l ia , 1 , 3 6 0 . . . D e c . 8 — E m ilia , 3 ,3 2 6
7,012
V a l S a l l e e , 2 , 3 2 6 ............................................................................................................
N E W
THE CHRONICLE
1554
T o ta l b a le s .
O R L E A N S — T o L iv e r p o o l— D e c . 7 — J a m a ic a n , 6 , 7 8 7 . . . D e c .
8 — c o u n s e ll o r , 1 0 , 0 0 0 - . . D e c . 1 0 — C o lo n ia l, 1 0 ,5 0 0 ; A t la n t l a n , 2 1 , 5 0 0 ................................... ....................- - - - - .................... - .......................... 4 8 , 7 8 7
T o M a n c h e s t e r — D e c . 1 1 — M a n c h e s t e r S p i n n e r , 7 , 0 0 0 .....................
7 ,o O O
T o B e l f a s t — D e c . 1 0 — R a m o r e H e a d , 1 , 8 0 0 .................. ......................
1 ,8 0 0
T o H a v r e — D e c . 9 — S t . L a u r a n t , 6 , 2 0 0 ........................................................
6 ,2 0 0
T o D u n k i r k — D e c . 5 — S a n d y f o r d , 4 , 5 0 0 . ..................... - ................... —
4 ,5 0 0
T o B r e m e n — D e c . 1 1 — N o r s e m a n , 1 7 , 0 0 0 .............................................. ... 1 7 , 0 0 0
T o H a m b u r g — D e c . 5 — J a c o b B r i g h t , 1 , 0 4 1 -------------------------------------1 ,0 4 1
1 ,6 0 0
T o A n t w e r p — D e c . 7 — H e r c u l e s , 5 0 ------ D e c . 8 — M i l t o n , 1 , 5 5 0 . .
T o B a r c e l o n a — D e c . 5 — B r a z l l e n o , 4 , 3 5 0 . ................................ .................
4 ,3 5 0
2 ,4 0 0
T o V e n i c e — D e c . 9 — T e r e s a , 2 , 4 0 0 ................................... ...................... ...
T o T r i e s t e — D e c . 9 — T e r e s a , 6 5 0 ................................... .....................................
650
T o C o l o n — D e c . 5 — C h l c k a h o m l n y , 3 0 0 .......................................................
300
T o M e x i c o — D e c . 8 — N o r , 9 0 0 . ---------------------------------------------------------------900
P O R T A R T H U R — T o L i v e r p o o l — D e c . 9 — S a n d s e n d , 1 1 , 1 7 5 _____ 1 1 , 1 7 5
M O B I L E — T o L i v e r p o o l — D e c . 4 — T e l c s f o r a , 9 , 3 0 0 ....................................
9 ,3 0 0
T o H a v r e — D e c . 8 — R y d e , 9 , 1 6 6 ........................ ....................................... ........
9 ,1 6 6
P E N S A C O L A — T o B a r c e l o n a — D e c . 5 — M a r g h e r l t a , 6 0 0 ........................
600
T o T r i e s t e — D e c . 5 — M a r g h e r l t a , 1 0 0 ..............................................................
100
T o V e n i c e — D e c . 5 — M a r g h e r l t a , 1 0 0 ..................... ............................... ...........
100
B R U N S W I C K — T o M a n c h e s t e r — D e c . 8 — A n g l o - C h l l i a n , 8 , 2 6 4 ____
8 ,2 6 4_
S A V A N N A H — T o H a v r e — D e c . 4 — H a r l y n , 8 ,0 6 1 ............... .. ....................
8 ,0 6 1
T o G e n o a — D e c . 1 0 — G e o r g i a , 2 , 0 0 0 . .............................................................
2 ,0 0 0
T o B r e m e n — D e c . 5 — A m e r i c a , 6 , 8 1 9 . . ........................ ...............................
6 ,8 1 9
T o S t o c k h o l m — D e c . 1 0 — K r o n p r l n z O l a v , 2 0 0 _____________________
200
T o H a m b u r g — D e c . 8 — F r l e d r l k e , 5 0 0 ____D e c . 1 0 — K r o n p r l n z
O l a v , 2 , 7 0 1 __________________________________ _________________________________
3 ,2 0 1
T o S y r a — D e c . 8 — E u g e n i a , 5 0 ------------- -----------------------------------------------------50
T o R o t t e r d a m — D e c . 5 — S e l l a s l a , 2 7 5 ----------------------------------------------------275
T o M a l m o — D e c . 8 — F r l e d r l k e , 3 0 0 ---------------------------- ----------------------------300
T o A n t w e r p — D e c . 5 — S e l l a s l a , 2 0 0 ---------------------------------------------------------200
T o N o r r k o p i n g — D e c . 8 — F r l e d r l k e , 4 0 0 ........................................................
400
T o R e v a l — D e c . 5— S e lla s la , 6 5 0
D e c . 8 — F rle d rlk e , 9 7 5
1 ,6 2 5
T o U d d e v a l l e — D e c . 8 — F r l e d r l k e , 1 0 0 .......................................................
100
200
T o R i g a — D e c . 5 — S e l l a s l a , 2 0 0 ............................................................................
T o G o th e n b u r g — D e c . 8 — F r le d r lk e ,
700— D ec.
10— K ro n
900
p r l n z O l a v , 2 0 0 _____________________________________________________________
T o B a r c e lo n a — D e c . 8 — E u g e n ia , 2 ,8 5 0 — D e c . 1 0 — G e o r g ia ,
3 ,2 0 0
_________ ________________________- ............................... .........................
6 ,0 5 0
400
T o T r i e s t e — D e c . 8 — E u g e n i a , 4 0 0 -------------------------------------------------700
T o F l u m e — D e c . 8 — E u g e n i a , 7 0 0 -------------------------------------------------200
T o V e n i c e — D e c . 8 — E u g e n i a , 2 0 0 -------------------------------------------------W I L M I N G T O N — T o L i v e r p o o l — D e c . 7 — H l l l b r o o k , 1 4 , 6 9 4 ................ 1 4 , 6 9 4
200
N O R F O L K — T o L o n d o n — D e c . 9 — I n d i a n a , 2 0 0 ............................................
T o R o t t e r d a m — D e c . 5 — E l l e n , 2 5 0 -------------------------------------------------------250
T o H a m b u r g — D e c . 9 — B e t h a n l a , 2 5 ----------------------------------------------------25
B O S T O N — T o L iv e r p o o l— D e c . 4 — S a g a m o r e , 5 4 9 .. . D e c . 8 — C y m
r i c , 3 , 6 6 7 _____________________________ ________- - - .................- ...............................
4 ,2 1 6
587
T o M a n c h e s t e r — D e c . 4 — C a l e d o n i a n , 5 8 7 ------------------------------------------B A L T I M O R E — T o L i v e r p o o l — D e c . 9 — V e d a m o r e , 1 , 3 5 8 .....................
1 ,3 5 8
T o B r e m e n — D e c . 1 0 — M a i n , 1 , 6 0 6 ---------------------------------------------------------1 ,6 0 6
P H I L A D E L P H I A — T o G e n o a — D e c . 2 — L o m b a r d i a , 3 0 0 ____________
300
5 ,1 6 6
S E A T T L E — T o J a p a n — D e c . 8 — T a n g o M a r u , 5 , 1 6 6 ...................................
N E W
T o t a l ............ ...................................................... - ................................- ........................................3 8 6 , 1 1 5
L I V E R P O O L .— B y c a b le fr o m L iv e r p o o l w e h a v e th e fo l
lo w in g s ta t e m e n t o f t h e w e e k ’s s a le s , s to c k s , & c ., a t t h a t p o r t:
N ov. 2
N ov. 20.
* ”7 .
3 9 .0 0 0
S a l e s o f t h e w e e k ----------------b a l e s . 5 6 , 0 0 0
4 .0 0 0
O f w h ic h s p e c u la t o r s t o o k . .
1 ,0 0 0
1 .0 0 0
O f w h i c h e x p o r t e r s t o o k -------------------------- 1 , 0 0 0
4 8 .0 0 0
4 1 ,0 0 0
S a l e s , A m e r i c a n ......................
3 ,0 0 0
5 ,0 0 0
A c t u a l e x p o r t -----------------------------------8 4 .0 0 0
F o r w a r d e d __________________________ 7 9 , 0 0 0
5 4 7 .0 0 0
T o t a l s t o c k — E s t i m a t e d ................ 4 8 4 , 0 0 0
4 4 8 .0 0 0
O f w h i c h A m e r i c a n — E s t ____ 3 8 1 , 0 0 0
1 5 0 .0 0 0
T o t a l I m p o r t s o f t h e w e e k ----------1 1 2 , 0 0 0
1 3 5 .0 0 0
O f w h i c h A m e r i c a n --------------------1 0 2 , 0 0 0
4 3 0 .0 0 0
A m o u n t a l l o a t ---------------------------------- 3 7 0 , 0 0 0
3 7 5 .0 0 0
O f w h i c h A m e r i c a n ------------------- 3 2 5 , 0 0 0
~ ec. 4 .
D
4 7 .0 0 0
1 ,0 0 0
1 ,0 0 0
4 2 .0 0 0
9 ,0 0 0
8 5 .0 0 0
5 3 8 .0 0 0
4 3 7 .0 0 0
8 5 .0 0 0
6 3 .0 0 0
5 5 6 .0 0 0
4 9 9 .0 0 0
" e c' . **
D
11.
4 7 .0 0 0
3 .0 0 0
2 .0 0 0
4 2 .0 0 0
1 4 .0 0 0
7 7 .0 0 0
6 3 6 .0 0 0
5 3 6 .0 0 0
1 8 9 .0 0 0
1 7 2 .0 0 0
6 0 4 .0 0 0
5 4 2 .0 0 0
T h e to n e - o f th e L iv e r p o o l m a r k e t fo r sp o ts a n d fu tu r e s
e a c h d a y o f t h e p a s t w e e k a n d t h e d a ily c lo s in g p r ic e s o f
S p o t.
M a rk et,
1
1 2 :1 5
f
P. M.
]
M id . U p l’ds
S a tu rd a y.
M ond a y.
T u e sd a y .
Q u ie t .
4 .8 8
F a ir
b u s in e s s
d o in g .
4 .9 2
F a ir
b u s in e s s
d o in g .
4 .8 9
8 ,0 0 0
300
1 2 ,0 0 0
3 ,0 0 0
1 0 ,0 0 0
500
S p e c .& e x p .
F u tu res.
M a rk et
1
opened
j
M a rk et.
4
P. M.
E asy at
% @ 3%
p ts. d e c.
Q u ie t a t
1
1 3 @ 5 % p ts.
d e c li n e .
J
W ednesday.
T h u rsd a y.
E a s ie r .
Q u ie t .
F r id a y .
4 .8 6
4 .9 6
D u ll
and
e a s ie r .
4 .8 6
6 ,0 0 0
300
5 ,0 0 0
200
3 ,0 0 0
200
S tea d y at
S t e a d y a t Q u ie t b u t
s t e a d y a t 3 % @ 4 p ts .
2 @ 3 p ts.
a d v a n c e . 2 % p t s .d e c . p t s . d e c .
S tea d y at
5 @ 7 p ts.
advance.
B a re ly s t y .
at 0 © 7
p ts . d e c ..
S tea d y at
% n t .a d v .t o
1 p t. dec.
Q u ie t a t
p ts . a d v .
Q u ie t a t
7% @ 8%
p ts . d e c .
Q u ie t a t
% © 4%
p ts. a d v .
S tea d y at
1@4%
p ts . d ec.
T h e p r ic e s o f fu t u r e s a t L iv e r p o o l fo r e a c h d a y a re g iv e n
b e lo w . P r ic e s a r e o n th e b a s is o f u p la n d , g o o d o r o r d in a r y
Dec. 5
to
Sat.
12%
p. m .
i 2%
p. m .
a.
4
4
4
J a n -F e b .
1
___
4
F e b .-M c h .
4
4
4
4
4
A u g . - S e p t . 1____ 4
4
4
4
.... 4
i
4
’ -
d.
62%
62
64
63%
63%
64
64%
64%
63%
58
54
50
48%
48
48
Alon.
I
T u es .
W ed.
Th ur s.
Fri.
4
12%
4
12%
4
4
12%
12%
12%
4
p. m . p. m . p. m . p. m . p. m . p.m. p. m. p. m. p.m. p . m .
d.
d.
I
d.
d.
67%
67
67%
06%
65%
65%
66
66
64%
58 %
55
5 4 % 52
51 %
5 2 % 51 % 49
49 %
51
5 0 % ; 47
5 0 % 49 % 46 % 49
48%
50
49
46
68%
67%
68
67%
67
67
67%
67%
66%
60%
67
66%
67
66%
66
66
66%
66%
65%
65%
65
65%
65
.64
64
64%
64%
63%
d.
d.
d.
d.
a.
d.
64
63
63
62
61 %
61 %
61%
61 %
60%
54 %
50%
47%
45%
45
44%
66%
64
63%
62
62
62
62
62
61
55
51
48
46
45 %
45
74
71
70%
69
68%
68%
68%
68 %
67 %
61 %
57
53%
51 %
51
50%
74
70%
70
68%
68
68
68
68
67
61
56%
53%
51%
51
50%
65%
63
62%
61
60%
60%
60%
60%
59%
53%
49%
40
44
43%
43
65
62
61%
00%
59%
59%
59%
60
58%
52%
49
45%
43%
43
42%
A G R IC U L T U R A L
D E P A R T M E N T ’S
REPO RT
ON
C E R E A L C R O P S D E C E M B E R 1 s t — T h e A g ric u ltu r a l D e
p a r t m e n t ’s r e p o r t o n c e re a l c r o p s D e c e m b e r 1 w a s iss u e d o n
t h e 7 t h in s t . a s fo llo w s :
T h e C r o p R e p o r t in g B o a r d o f t h e B u r e a u o f S t a tis t ic s o f t h e U n it e d
S ta te s D e p a r t m e n t o f A g r ic u lt u r e fin d s , fr o m th e r e p o r t s o f t h e c o r r e s p o n d
e n ts a n d a g e n ts o f th e . u r e a u , a s fo llo w s :
T h e n e w l y - s e e d e d a r e a o f w i n t e r w h e a t Is e s t i m a t e d n s b e i n g 5 . 6 % l e s s
t h a n t h e r e v i s e d e s t i m a t e d a r e a s o w n In t h e f a l l o f 1 9 0 7 — e q u i v a l e n t t o a
d e c r e a s e o f 1 ,7 6 2 ,0 0 0 a c r e s , a n d I n d ic a t in g a t o t a l o f 2 9 ,8 8 4 ,0 0 0 a c r e s . T h e
c o n d i t i o n o f w in t e r w h e a t o n D e c . 1 w a s 8 5 . 3 , a s c o m p a r e d w i t h 9 1 .1 o n
D e c . 1 1 9 0 7 , 9 4 .1 o n D e c . 1 1 9 0 6 a n d a 1 0 - y e a r a v e r a g e o f 9 2 .2 .
T h e n e w l y - s e e d e d a r e a o f r y e Is e s t i m a t e d a g b e i n g 4 % l e s s t h a n t h e a r e a
s o w n In t h e f a l l o f 1 9 0 7 — e q u i v a l e n t t o a d e c r e a s e o f 8 0 , 0 0 0 a c r e s , a n d I n d i
c a t in g a t o t a l o f 1 ,9 3 5 ,0 0 0 a c r e s .
T h e c o n d it i o n o f r y e o n D e c . 1 w a s 8 7 .6 ,
a s c o m p a r e d w it h 9 1 .4 o n D e c . 1 1 9 0 7 , 9 6 .2 o n D e c . 1 1 9 0 6 a n d a 1 0 -y e a r
a verage o f 95.
^ C o m p a r i s o n s fo r I m p o r t a n t w in t e r -w h e a t a n d r y e S ta te s fo llo w :
[V O L .
A crea g e com
p a r e d w ith
la s t y e a r .
W in t e r w h e a t—
P erC t.
A cres,
1908-09.
P rolim in a r y .
A cres.
6 ,1 7 3 ,0 0 0
2 ,4 4 6 ,0 0 0
2 ,0 9 5 ,0 0 0
2 ,3 3 5 ,0 0 0
2 ,1 3 5 ,0 0 0
1.743,000
1,545,000
1,0 8 0 ,0 0 0
1,2 4 1 ,0 0 0
9 29 ,000
7 97 ,000
8 06 ,000
6 99 ,000
7 73 ,000
5 ,0 8 7 ,0 0 0
K a n sas --------_______96
I n d i a n a -------- _______88
I l l i n o i s ______ ______ 88
N e b r a s k a ------ ---------- 99
M issouri ____ ---------- 94
O h io .______ 82
P en n sy lv a n ia -______ 95
C a liforn ia — ______ 90
O k la h o m a _________ 90
Texas —
- -______ 94
M ich igan _________ 89
T e n n e s s e e ____ ______ 96
K e n t u c k y ____ ______ 90
M a ry la n d ___ ______ 1 0 0
A l l o t h e r _____ _____ 105
U n ited S ta te s ___ 94.4
2 9 ,8 8 4 ,0 0 0
L X X X V II.
•— A v e r . c o n d i t i o n
1908.
1907.
P e r C t.
P e r C t.
92
65
72
89
90
62
88
92
89
89
74
87
80
95
1.—
10- Y e a r
D ec.
A ver.
P erC t.
93
91
93
94
93
88
94
93
93
92
88
89
91
93
95
'9 1
91
93
93
84
86
88
94
93
87
90
96
84
91
88
85.3
9 1 .1
81
90
86
92
91
90
88
88
S!3
9 - .2
R ye—
M ic h i g a n ____ _____ 92
P e n n s y lv a n ia - ____ 108
W isco n sin
. . ---------95
N ew Y o r k ___ ---------96
M in n e s o t a ___ _____ 96
N e b r a s k a ____ _____ 93
I l l i n o i s _______ _____ 89
N ew J e rs e y ___ ______ 1 0 2
A l l o t h e r ____ .......... 94
3 3 9 ,0 0 0
368 ,0 0 0
281 ,0 0 0
140,000
8 8 ,0 0 0
85,0 0 0
63,0 0 0
8 0 ,0 0 0
4 91 ,000
7
97
92
94
95
97
90
94
84
93
80
100
88
U n ited S ta te s____ 96.0
91.4
1,9 3 5 .0 0 0
87.6
T h e final estim ates o f the to ta l a cre a g e , p r o d u c t io n an d fa rm ’. a
the p rin cip a l c ro p s fo r 1908 w ill be Issued on D e c . 15.
95
9 5 .0
s of
ifc.H
BREADSTU FFS.
Friday, Dec. 1 1 1 9 0 8 .
P r i c e s f o r w h e a t f lo u r h a v e r u l e d s t e a d y d u r i n g t h e w e e k
d e s p i t e t h e s h a r p d e c li n e in w h e a t q u o t a t i o n s . B u y e r s in
m o s t c a s e s s till a d h e r e to t h e p o lic y o f p u r c h a s in g o n a h a n d t o - m o u t h s c a le , b u t s e lle r s s h o w n o d is p o s it io n to s h a d e
q u o t a t i o n s . T h e s t ile s a t t h e l a r g e m i l l i n g c e n t r e s o f t h e
N o r t h w e s t h a v e s h o w n a r e d u c t io n o f la t e a n d t h e o u t p u t
th e re h a s d e c re a se d s h a r p ly .
A t th e la rg e w in te r-w h e a t
f lo u r c e n t r e s , h o w e v e r , a l a r g e b u s i n e s s h a s b e e n d o n e o f
l a t e . R y e f lo u r a n d c o r n m e a l h a v e b e e n q u i e t a n d s t e a d y .
W h e a t h a s d e c lin e d , o w in g m a i n ly to a g r o w in g b e lie f
t h a t s u p p lie s a r e g o in g to b e la r g e r t h a n a t o n e tim e s e e m e d
p o s s ib le . T h is h a s r e s u lt e d in e n o r m o u s liq u id a t io n a t t h e
W e s t , a lt h o u g h it is s a id t h a t c e r t a in v e r y la r g e h o ld in g s
th e r e a r e s till in t a c t . T h e G o v e rn m e n t re p o r t o f D e c . 7
p l a c e s t h e D e c e m b e r c o n d i t io n a t 8 5 . 3 % a n d t h e a r e a s o w n
a t 2 9 , 8 8 4 , 0 0 0 a c r e s . T h e p o i n t o f t h i s is n o t t h a t i t is i n
t r in s ic a lly a g o o d s h o w in g , b u t t h a t it w a s v e r y m u c h b e tte r
t h a n w a s g e n e r a lly e x p e c t e d . A n id e a p r e v a ile d a t o n e t im e
t h a t t h e c o n d i t io n w o u l d b e g i v e n a t a b o u t 8 0 % a n d t h e
a c r e a g e s o w n a t n o t m u c h o v e r 2 7 ,0 0 0 ,0 0 0 a c r e s . T h e e ffe c t
o f t h e r e p o r t w a s a s u d d e n d e c li n e o f 2 c e n t s a b u s h e l , a l
th o u g h th e re p o rt w a s c o n stru e d a s in d ic a tin g a c ro p o f o id y
3 7 6 , 5 3 8 , 0 0 0 b u s h e l s o f w i n t e r w h e a t , a g a i n s t 4 2 5 ,9 4 0 , 0 0 0 ,
t h e c r o p a c t u a ll y h a r v e s t e d la s t s e a s o n . T h e im p r e s s io n
h e r e to fo r e h a d b e e n t h a t t h e w in te r - w h e a t y ie ld w o u ld b e
c o n s i d e r a b l y le s s t h a n 3 7 6 ,5 0 0 , 0 0 0 b u s h e l s a n d t h e r e f o r e a n
u n d u l y s w o ll e n l o n g i n t e r e s t f o u n d t h e m a r k e t t o p - h e a v y .
Y e t th e a c t u a l c o n d it io n is n e a r ly G % lo w e r t h a n t h a t o f la s t
y e a r a n d n e a r ly 9 % lo w e r t h a n in 19 0 6 - 0 7 a n d 19 0 5 -0 6 . I t
i s , h o w e v e r , 2 .4 % b e t t e r t h a n in 19 0 4 - 0 5 , w h e n th e w in t e r w h e a t y i e l d i n t h i s c o u n t r y w a s 4 2 8 ,4 6 2 , 0 0 0 b u s h e l s . M e a n
t im e A r g e n t in e r e p o r t s a r e m o re fa v o r a b le t h a n r e c e n t ly
a n d C a n a d ia n w h e a t is m o v in g m o re f r e e ly to m a r k e t .
M o r e o v e r , E u r o p e c o n t in u e s to b u y C a n a d ia n r a t h e r t h a n
A m e r ic a n w h e a t . T h e c ro p r e p o r t s fr o m In d ia h a v e b e e n
v e r y fa v o r a b le . T h e s a m e m a y b e s a id o f th e U n ite d
K in g d o m a n d F r a n c e a s w e ll a s R o u m a n ia , S p a in , I t a ly
a n d N o r th A fr ic a . G e r m a n y a n d A u s t r ia h a v e s e n t s im ila r
r e p o r t s . H a r v e s t in g is in p r o g r e s s in A u s t r a lia u n d e r f a v o r
a b le c o n d i t i o n s . I t i s t r u e t h a t i n s o u t h e a s t e r n R u s s i a
th e re a r e c o m p la in ts o f d r o u g h t . I n so m e s e c tio n s o f R u s s ia
th e w e a t h e r h a s b e e n to o m ild . B u t a g la n c e a t th e w o r ld ’s
c r o p c o n d it io n s o n th e w h o le r e v e a ls a f a v o r a b le s t a t e o f
t h in g s . B e n e fic ia l r a in s a n d s n o w s h a v e o c c u r r e d in t h is
c o u n t r y s in c e t h e i s s u a n c e o f t h e G o v e r n m e n t c r o p r e p o r t
a n d p r ic e s h a v e b e e n g r a d u a lly d e c lin in g d e s p it e s o m e c r it i
c is m s d ir e c te d a g a in s t th e r e p o r t b y la r g e o p e r a to r s a t th e
W e s t . T h e a r e a is 5 .6 % s m a lle r t h a n la s t y e a r a n d is a ls o
t h e l o w e s t f o r n i n e y e a r s p a s t . N e v e r t h e l e s s t h e b e li e f i s
t h a t th e r e is p le n t y o f w h e a t in th e w o r ld a n d t h a t p r ic e s
h a v e b e e n a d v a n c e d u n d u ly b y m e re s p e c u la t iv e m a n ip u la
t io n . T o - d a y p r ic e s d e c lin e d o n b e a r h a m m e r in g , f a v o r a b le
A r g e n t in e n e w s a n d liq u id a t io n a t t r ib u t e d t o la r g e C h ic a g o
b u lls .
d a i l y
c l o s in g
p r i c e s
o f
w
h e a t
f u t u r e s
S a t.
M o n . T u es.
N o . 2 r e d w i n t e r ............................................1 1 4 % 1 1 1 % 1 1 1 M
D e c e m b e r d e l i v e r y In e l e v a t o r _____ 1 1 5
1 1 2 % 113
M a y d e l i v e r y In e l e v a t o r _____________ 1 1 6 % 1 1 4 % 1 1 4 %
D A I L Y C L O S IN G P R IC E S O F W H E A T F U T U R E
S a t. M o n . T u e s.
D e c e m b e r d e l i v e r y In e l e v a t o r -------- 1 0 5 % 1 0 4 % 1 0 3 %
M a y d e l i v e r y in e l e v a t o r _____________ 1 1 0 % 1 0 8 % 1 0 8 %
J u l y d e l i v e r y i n e l e v a t o r _____________ 1 0 3 % 1 0 1 % 1 0 1 %
i n
now y o r k
.
W ed . T h u rs. F r i.
110% 108% 109%
1 1 1 % 111
109%
112% 112%
110%
S I N C H IC A G O .
W e il. T h u r s. F r i .
102% 102%
100%
107% 107%
105%
09% 99%
98
I n d ia n c o rn f u t u r e s h a v e d e c lin e d , o w in g m a in ly t o th e
f a ll in w h e a t , la r g e r s a le s b y th e c o u n t r y , s o m e in c r e a s e
in th e a r r iv a ls a t C h ic a g o o f l a t e , a n d h e a v y liq u id a t io n ,
e s p e c i a l l y in D e c e m b e r . M o r e o v e r , t h e c a s h m a r k e t h a s
b e e n d u ll a n d e l e v a t o r c o n c e r n s a t t h e W e s t h a v e s o ld
fr e e ly a t t im e s . L a r g e c a s h in t e r e s t s a re b e lie v e d to b e
a r r a y e d o n th e b e a r s id e . T h e p r in c ip a l d e m a n d h a s b e e n
t o c o v e r s h o r t s , t h o u g h o f la t e c o m m is s io n h o u ses^ h a v e
b o u g h t to so m e e x t e n t fo r a t u r n o n th e lo n g s id e , b e lie v in g
t h a t a r a l l y w a s d u e a f t e r t h e h e a v y l i q u i d a t i o n a n d d e c li n e
in p r ic e s . T o - d a y p r ic e s d e c lin e d w it h w h e a t . R e c e ip t s
w e r e la r g e r a n d th e c a s h m a r k e t s d u ll.
THE CHRONICLE
Deo. 12 1908.]
D A IL Y
C L O S IN G
P R IC J iL ^ O F N O . 2 M I X E D
S a t.
C a s h c o r n .....................- ----------------------------- .7 0
%
D e c e m b e r d e l i v e r y I n e l e v a t o r ..............7700 >4
.7 0 %
M a y d e l i v e r y I n e l e v a t o r .............
' CORN
S a t.
.0 1 1 4
.6 3
- « 2 ‘A
Decem ber delivery In elevator
May delivery In elevator--------July delivery In elevator..........
C O R N IN N E W Y O R K
T u e s . W e d . T h u rs. F r i.
67 y,
6 7 )4
68%
68
68%
69
66 H
69
6 8 )4
69
69 %
M on.
70
70%
69 H
FU TU R ES
M on.
60%
62%
62%
T u es.
59 W
62%
62%
CHICAGO.
IN
W e d . T h u rs. F r i .
5 8 y»
58%
5 7 )4
61
62
62
62
61 X
62
O a ts fo r fu t u r e d e liv e r y in th e W e s te r n m a r k e t h a s sh o w n
s o m e s y m p a t h y a t t im e s w it h th e d e p r e s s io n in o t h e r c e r e a ls ,
b u t o n t h e w h o le t h e t o n e h a s b e e n c o m p a r a t i v e l y fir m a n d
th e t e n d e n c y o f p r ic e s h a s b e e n u p w a r d , o w in g to v e r y
s m a ll r e c e ip ts , s u p p o r t fr o m c a sh in t e r e s t s a n d b u y in g
o n s p r e a d s b y m a n y w h o h a v e s o l d c o r n s h o r t in t h e b e l i e f
t h a t th e t w o c e r e a ls w ill u l t im a t e ly s e ll a t n e a r ly t h e s a m e
p ric e . T h e c a sh m a r k e t a t th e W e st h a s b e e n m o re a c t iv e ,
w it h p r ic e s fir m . T o - d a y p r ic e s d e c lin e d o n th e w e a k n e s s
in w h e a t a n d liq u id a t io n .
D A IL Y CLOSING P R IC E S O P OATS IN NEW YORK.
S a t.
M on.
N o. 2 m ix ed____5414-55
T u es.
5414-55
W ed.
54)4-55
T h u rs.
F r i.
55-5514 55*55 )4 55-5514
W tOtI a 1lEsC? ---5 6 }4 -5 9 }4 56)4-59)4 5 0)4-59)4
57-60
57-60
57-60
D A IL Y CLOSIN G PR ICE S OF OATS IN CHICAGO.
S a t.
D e ce m b e r d e liv e ry In e le v a t o r ......... 4 9 %
May delivery In elevator.................... 52 %
July delivery In elevator-----------------47 %
M on.
T u es.
W ed . T h u rs. F r i.
49%
52
47
50%
52 %
47 %
50%
53
47 %
50%
53 %
47 %
50%
52 %
47 %
T h e f o llo w in g a r e c lo s in g q u o t a t io n s :
FLO U R.
L o w grades____________53 4 0 @ 5 3 75 K a n s a s s t r a i g h t s ---------- $ 4
Second clears___________ 3 00 @ 3 50 B l e n d e d c l e a r s ____________
C le a r s __________________ 4 0 0 '? 4 25 B l e n d e d p a t e n t s ----------------Straights............................ 4 70
480R y e f l o u r _____________________
Patent, spring--------------- 5 40 @ 5 85 B u c k w h e a t f l o u r -------------Patent, w inter_________ 4 85 ,.? 5 10 G r a h a m f l o u r ---------------------Kansas clears ----------------4 1 0@ 4 45 C o r n m e a l ___________________
7 5 ( S 'J 4
5 3 0®
6 0 0 •?
3 60 ^
2 35 @
3 90 @
3 7 0 (a>
90
—
0 60
50
2 65
4
0
4 00
G R A IN .
W h e a t , p e r b u s h .—
N . D u l u t h . N o . 1 .............
N . D u l u t h , N o . 2 _______
R e d w i n t e r , N o . 2 ............ f . o
H a rd
**
“
----------O a t s , p e r b u s h .—
N a t u r a l w h i t e -----------------N o . 2 m i x e d --------------------N a tu ra l w h ite c lip p e d
c.
118%
116%
. b . 109 %
115%
„
56 " 57
55 @ 55%
57 a 60
C o r n (n e w ), p e r b u s h .—
c.
67%
N o . 2 m i x e d --------------------N o . 2 y e l l o w _____________ N o m i n a l .
N o . 2 w h i t e _____________ N o m i n a l .
R y e , p e r b u s h .—
N o . 2 W e s t e r n ____________
77
S t a t e a n d J e r s e y _________N o m i n a l
B a r l e y — M a l t i n g . ...................
6 5 -3 7 0
F e e d i n g ____________________
60 @ 6 1
For other tables usually given here, see page 1512.
T H E
D R Y
G O O D S
T R A D E .
Nrw York, Friday Night, Dec. 1 1 1 9 0 8 .
In th e c o tto n g o o d s d iv is io n t r a d e h a s b e e n r a t h e r q u ie t so
f a r a s n e w b u s i n e s s i s c o n c e r n e d , b u t D e c e m b e r is u s u a l l y
a d u ll m o n th c o m p a r a t iv e ly , a n d th e lu ll in t h e b u y in g
m o v e m e n t h a s th e r e fo r e c a u s e d n o u n e a s in e s s a m o n g s e lle r s .
Jo b b e r s a s a ru le h a v e a lr e a d y c o v e re d th e ir r e q u ir e m e n ts
p r e t t y w e ll in d o m e s tic c o tt o n s a n d a r e n o t e x p e c te d to d o
m u c h in t h e w a y o f a d d it io n a l o r d e r in g u n t il s t o c k - t a k in g ,
n o w in p r o g r e s s i n m a n y h o u s e s , h a s b e e n c o m p l e t e d .
W h ile t h e v o lu m e o f n e w o r d e r s is le s s , it is s ig n ific e n t t h a t
re q u e s ts fo r p r o m p t s h ip m e n t o f g o o d s a lr e a d y u n d e r o rd e r
a n d fo r e a r lie r d e liv e r ie s t h a n o r ig in a lly c a lle d fo r h a v e b e e n
m o r e n u m e r o u s , w h ic h w o u ld s e e m to in d ic a t e t h a t d is
tr ib u te r s a r e e x p e r ie n c in g a g o o d d e m a n d . I n th e e a r ly
p a r t o f t h e w e e k t h e m a r k e t d is p la y e d so m e s o ft s p o ts ,
p a r t i c u la r l y w id e p r in t c lo t h s , w h ic h r u le d e a s ie r u n d e r
o ffe r in g s fr o m s e c o n d h a n d s ; th e G o v e r n m e n t g in n e r s ’ r e p o r t
o n c o tto n , h o w e v e r , im p a r te d a s te a d ie r to n e to t h e m a r k e t
g e n e r a lly a n d s e r v e d to c r e a t e m o re c o n fid e n c e in t h e s t a
b ilit y o f p r ic e s . T h e h o lid a y d e m a n d fo r c o tto n g o o d s ,
w h ic h b e g a n u n u s u a lly e a r l y t h is y e a r , h a s b e e n w e ll m a in
t a i n e d , a n d is o f s a t i s f a c t o r y p r o p o r t io n s . M o re a c t i v i t y
is n o t e d in w o o le n a n d w o r s t e d g o o d s , e s p e c ia lly in m e n ’s
w e a r lin e s ; s p o t w in t e r fa b r ic s h a v e b e e n w e ll c le a n e d u p ,
a n d p ro sp e c ts fo r th e n e x t fa ll se a so n a r e re p o rte d a s b r ig h t .
I n d r e s s g o o d s , m o r e o r le s s u n e v e n d is t r ib u t io n o f b u s in e s s
is s t ill in e v id e n c e a s r e g a r d s s p r in g f a b r ic s , s o m e le n d in g
lin e s b e in g w e ll u n d e r o r d e r , w h ile o t h e r s c o n t in u e to m o v e
s lo w ly ; so m e g o o d s fo r fa ll h a v e b e e n o p e n e d a n d fa ir
in it ia l o r d e r s h a v e b e e n b o o k e d , b u t th e b u lk o f th e n e w
s e a s o n ’s lin e s w ill n o t b e s h o w n u n t il l a t e r . T h e a u c t io n
s a le o f s ilk p ie c e g o o d s h e ld d u r in g t h e w e e k w a s w e ll
a tte n d e d b y b u y e r s fro m v a r io u s s e c tio n s , a n d g o o d a v e r a g e
p r ic e s w e r e r e a liz e d . E x p o r t t r a d e g e n e r a lly h a s c o n t in u e d
q u ie t ; m is c e lla n e o u s b u s in e s s h a s b e e n f a i r , b u t F a r E a s t e r n
m a r k e ts h a v e d o n e p r a c t ic a lly n o th in g .
D O M E S T I C C O T T O N G O O D S .— T h e e x p o r t s o f c o tto n
g o o d s fr o m t h is p o r t fo r th e w e e k e n d in g D e c . 5 w e re 2 ,0 7 3
p a c k a g e s , v a lu e d a t 8 1 6 5 , 1 9 3 , t h e ir d e s t in a t io n b e in g to th e
p o in t s s p e c ifie d in t h e t a b le s b e lo w :
N e w Y o r k to D e c . 6 .
G r e a t B r i t a i n ____________
O t h e r E u r o p e -----------------C h i n a ..................... - - ..............
I n d i a ----------- --------------------A r a b i a --------------------------------A f r i c a .......................................
W e s t I n d i e s ........................
M c a d c o ....................................
C e n t r a l A m e r i c a ------------S o u t h A m e r i c a ------------O t h e r c o u n t r i e s --------------
Total...........................
■1 9 08 ------------------------------ 1 9 0 7 -----------S in c e
S in c e
J a n . 1.
Jan. 1.
W eek.
859
1 ,5 6 6
16
2 ,3 0 fl
1 ,4 6 6
2
2 2 ,6 4 2
2 1 ,6 8 8
6 ,0 9 4
1 2 ,9 8 1
2 6 ,4 2 5
2 9 ,4 5 8
4 ,0 6 7
9 ,5 8 3
3
2 1 ,8 8 1
2 7 ,0 8 5
531
2 ,2 3 C
1 ,5 8 2
57
1 2 ,4 1 .1
1 4 ,7 6 5
150
40,0651
3 8 ,9 4 0
575
2 0 ,7 7 1
2 3 ,7 0 6
490
W eek.
6
48
720
i4 2
330
13
262
637
510
2 ,6 7 3
1 7 9 ,1 7 8
1 ,8 2 4
1 6 4 ,3 9 1
T h e v a lu e o f t h e s e N e w Y o r k e x p o r t s s in c e J a n . 1 h a s b e e n
$ 1 1 ,1 9 4 ,4 4 0 in 19 0 8 , a g a in s t $ 1 0 , 1 1 1 , 8 5 4 in 19 0 7 .
1555
D o m e s t ic c o t t o n s , t h o u g h le s s a c t iv e , h a v e c o n t in u e d to
m o v e in f a i r v o l u m e , a n d l e a d i n g l i n e s a r e f i r m l y h e l d . T h e
m a r k e t f o r s t a p le p r in t s is in a s t r o n g p o s it io n ; b o o k in g s
h a v e b e e n l a r g e in t h e a g g r e g a t e a n d n o t a f e w o f t h e b e s t k n o w n lin e s a r e s t ill h e ld a t v a l u e . A f u r t h e r a d v a n c e o n
p r i n t e d g o o d s is e x p e c t e d i n m a n y q u a r t e r s , b u t w h e t h e r
i t w i l l b e m a d e t h i s m o n t h o r n o t is u n c e r t a i n . S i z a b l e
o r d e r s a n d d u p lic a t e s o n c o tto n d r e s s g o o d s fo r s p r in g a r e
b e in g r e c e iv e d , e s p e c ia lly fr o m t h e W e s t a n d S o u t h , w h ile
t h e g in g h a m s it u a t io n is r e p o r t e d a s p a r t ic u la r ly s t r o n g ,
s o m e o f t h e m o s t p o p u la r s t a p le g in g h a m s b e in g w e ll s o ld
a h e a d ; i t is r e p o r t e d t h a t c e r t a i n l a r g e E a s t e r n p r o d u c e r s
in t e n d to m a t e r ia lly in c r e a s e t h e c a p a c it y o f t h e ir p la n t s .
T h e l i n i n g m a r k e t is m u c h l e s s a c t i v e , t h e q u i e t n e s s b e i n g
a t t r ib u t e d la r g e ly to t h e a p p r o a c h o f t h e h o lid a y s . B le a c h e d
g o o d s h a v e m o v e d in m o d e r a t e q u a n t i t y , a n d l e a d i n g t i c k e t s
a r e in a w e l l s o l d - u p c o n d i t i o n . R e g u l a r p r i n t c l o t h s h a v e
c o n t in u e d in d e m a n d b u t b u s in e s s h a s b e e n s o m e w h a t
r e s t r ic t e d b y t h e r a t h e r lim ite d q u a n t it ie s a v a i l a b l e e v e n
a t t h e a d v a n c e d p r ic e r e c e n t ly e s t a b lis h e d a n d w h ic h h a s
b e e n m a i n t a i n e d , n a m e l y 3 7 - 1 C c .; s t a n d a r d w i d e g o o d s
a r e q u o t e d l o w e r a t 4 % c.
W O O L E N G O O D S .— I n t h e m e n ’s w e a r m a r k e t a d d it io n a l
lin e s f o r f a l l , 1 9 0 9 , h a v e b e e n o p e n e d ; s o m e o f t h e b e s t k n o w n % g o o d s h a v e b e e n s h o w n , a s w e ll a s s o m e lin e s o f
a l l - w o o l g o o d s in s u i t i n g s a n d f a n c y o v e r c o a t i n g s ; p r i c e s
g e n e r a lly re m a in u n c h a n g e d
fro m la s t se a s o n ’s , a n d
i n it ia l b u s in e s s d o n e is r e p o r t e d a s e n c o u r a g in g . D e m a n d
fo r s p o t g o o d s fo r th e c u r r e n t w in te r s e a s o n h a s c o n tin u e d
a n d b u s in e s s h a s b e e n r e s tr ic te d b y t h e s c a r c it y o f d e s ir a b le
f a b r ic s . F e w e r d u p lic a t e o rd e rs f o r s p r in g g o o d s c a m e
fo r w a r d d u r in g th e w e e k , b u t a s a t is fa c t o r y v o lu m e o f b u s i
n e ss h a s a lr e a d y b e en d o n e on su ch g o o d s, a n d so m e o f th e
l e a d i n g m i l ls h a v e w i t h d r a w n t h e i r s p r i n g l i n e s . I n d r e s s
g o o d s i n t e r e s t h a s c e n t e r e d l a r g e l y in b r o a d c l o t h s , e s p e c i a l l y
in t h e lin e s o f w o r s t e d - w a r p g o o d s o p e n e d fo r t h e n e x t f a ll
s e a s o n , a n d a s u b s t a n t ia l a m o u n t o f b u s in e s s h a s b e e n p u t
t h r o u g h . A ll- w o o l g o o d s a r e e x p e c t e d to b e o p e n e d s h o r t l y .
S p o t t r a d e in g o o d s o f p o p u la r c o lo r a n d c o n s t r u c t io n h a s
c o n tin u e d s a t is fa c t o r y , b u t s ta p le fa b r ic s h a v e d r a g g e d .
S a t in - f a c e d w o r s t e d s a n d f a n c y c h e c k s a n d s t r ip e s fig u re
m o s t p r o m in e n t ly in t h e d e m a n d . A ll- w o o l d r e s s g o o d s a r e
m o v in g s lo w ly .
F O R E I G N D R Y G O O D S .— S o m e im p r o v e m e n t is n o t e d
in t h e d e m a n d f o r i m p o r t e d w o r s t e d d r e s s f a b r i c s a n d f a n c y
s ilk g o o d s . L in e n s h a v e c o n t in u e d a c t iv e a n d a p p e a r to
b e w o r k in g in t o a s tr o n g e r p o s it io n . L ig h t - w e ig h t b u r la p s
h a v e b e e n in a c t iv e d e m a n d , b u t h e a v y - w e ig h t s h a v e r u le d
q u ie t; p r ic e s r e m a in u n c h a n g e d .
Im p o r ta t io n s a n d W a r e h o u s e W ith d r a w a ls o f D r y G o o d s .
T h e im p o r t a t io n s a n d w a re h o u s e w it h d r a w a ls o f d r y g o o d s
a t t h is p o r t f o r th e w e e k e n d in g D e c . 5 19 0 8 a n d s in c e
J a n . 1 19 0 8 , a n d fo r th e c o r r e s p o n d in g p e r io d s o f la s t y e a r ,
a r e a s f o llo w s :
1556
S ta te
THE CHRONICLE
a w p
P it y
B
m
News Items.
T h e G e n e r a l A s s e m b ly , h o w e v e r , m a y p a s s la w s p e r m it t i n g t h e o w n e r s
o f l a n d s t^o c o n s t r u c t vd ur ao m
i n os , d i t c h ews a n d il ce v ce ce ss if o r a g r i c u l t u r a l , s a n iitt aa rr yy
X*
n r TTi In ln rr n u r n n c o o o
t h n lo n H o a #
n
_____ i ,
a
.
*
o r m in in g p u r p o s e s a c r o s s th e la n d s o f o t h e r s , a n d p r o v id e f o r th e o r g a n
iz a t io n o f d r a in a g e d is t r ic t s , v e s t th e p r o p e r a u t h o r itie s w it h p o w e r t o
c o n s t r u c t a n d m a in t a in le v e e s , d r a in s a n d d it c h e s , a n d t o k e e p in r e p a ir
a ll d r a in s , d it c h e s a n d le v e e s
h e r e t o f o r e c o n s t r u c t e d u n d e r t h e la w s o f
th e S t a te , b y s p e c ia l a s s e s s m e n ts u p o n th e p r o p e r t y b e n e fit e d t h e r e b y ,
t n e G e n e r a l A s s e m b ly m a y p r o v id e b y la w f o r th e c o n d e m n a t io n o f s u c h
r e a l e s t a t e a s s h a ll b e n e c e s s a r y f o r t h e c o n s t r u c t i o n a n d m a in t e n a n c e o f
s u c h d r a in s , d it c h e s a n d le v e e s , a n d p r e s c r ib e th e m a k in g o f s u c h c o n
d e m n a tio n .
8 7 ,0 7 7 “ f o r ” t o 1 1 4 ,1 0 4 " a g a i n s t ” t h e a m e n d m e n t p r o v id i n g f o r a m t p m
o f t a x a t io n o f c o r p o r a t io n s .
“
« ‘« « «
9 0 ,0 6 1
*• « »
com p cn -
" f o r ” t o 6 8 .0 0 2 “ a g a in s t ” t h e a m e n d m e n t r e la t in g t o th e le n g t h o f
le g is la t iv e s e s s io n s .
" f o r ” t o 0 0 ,8 9 6 " a g a in s t ” t h e a m e n d m e n t r e la t in g t o m o r t g a g e
a ssessm en ts.
‘
0 7 , 2 3 7 “J g ^ ’t’ e ^ ° e | | ’ 4 6 5
"a e a la s t”
1 1 5 ,4 1 2
th e
a m e n d m e n t re la tin g
to
S ta te
in -
a m e n d m e n t r e la tin g to th e e x te n s io n
135413 'of em^loye’es of'the*Senate1and1^SsemblVye*a**n^ *° the
1 0 3 , 0 2 5 ' o ° rs t o t^ k h 0 i d e r a " o f g a 1^ o t^ o r a t l ( m f n d r a e n t r e l a t l n g t 0 t h e l l a b , 1 , t ^
9 5 , 2 3 5 's a l e s o L o S t e f t o c k 1 ”
th °
am endm ent
re la tin g
to
fic t it io u s
1 5 2 ,8 5 3 “ t o r ” t o 4 6 ,7 7 2 “ a g a in s t ” th e a m e n d m e n t r e la t in g t o p r im a r y e le c 1 0 7 ,2 4 4 " f o r ” t o 6 0 ,4 7 9 “ a g a in s t " t h e a m e n d m e n t r e la t in g t o c o u n t y g o v
ern m en t.
9 7 ,7 6 3 “ f o r ” t o 8 7 ,5 8 4 “ a g a in s t ” t h e a m e n d m e n t r e la t in g t o t h e p u b l ic sch o o l sy stem .
6 7 ,4 9 7 “ f o r " t o 1 0 7 ,6 1 3 “ a g a in s t ” t h e a m e n d m e n t r e l a t i n g t o b o a r d s o f
e d u c a tio n .
1 2 2 , 3 6 2 “ f o r ” t o 5 0 . 0 7 0 “ a g a i n s t " t h e a m e n d m e n t ’r e l a t i n g t o t h e a p p r o v a l
a n d r e t u r n o f b ills t o t h e G o v e r n o r .
I t w o u ld se e m fro m th e a b o v e t h a t , w it h th e e x c e p tio n o f
th e fir s t , s e c o n d , fo u r t h a n d th ir t e e n t h a m e n d m e n ts , a ll
h a d c a r r ie d .
Change of Seat of Government .— T h e e l e c t i o n h e l d N o v 3
r e s u lt e d in a v o t e o f 8 7 ,3 7 8 “ f o r ” to 1 6 5 ,6 3 0 “ a g a in s t ” th e
A c t re la tin g to th e c h a n g e o f th e s e a t o f g o v e rn m e n t. S e e
V. 85, p. 235.
, Bonds Defeated.— T h e v o t e c a s t N o v . 3 o n t h e b o n d p r o p o
s it io n s ( V . 8 5 , p . 2 3 5 ) w a s a s fo llo w s :
0 2 ,5 3 2 " t o r ” t o 0 6 ,0 6 3 " a g a i n s t ” t h e I s s u a n c e o f n o t e x c e e d in g $ 2 ,0 0 0 ,0 0 0
b o n d s f o r t h e e r e c t i o n o f a s e a w a l l , w h a r v e s a n d p i e r s in S a n
F r a n c is c o .
8 4 ,5 2 6 “ f o r ” t o 1 0 5 ,4 7 8 " a g a i n s t ” t h e I s s u a n c e o f $ 1 ,0 0 0 ,0 0 0 b o n d s f o r
e x t e n s i o n o f t h e I n d i a B a s in In S a n F r a n c i s c o .
C o l o r a d o . — Constitutional Amendment Providing for the
Redemption of Old State Warrants Rejected.— T h e p e o p le o f
t h is S t a t e a t th e g e n e r a l e le c t io n N o v . 3 d e fe a t e d th e a m e n d
m e n t to S e c tio n 3 o f A r tic le X I . o f th e C o n s titu tio n , w h e r e b y
i t w a s p r o p o s e d t o is s u e $ 8 7 3 ,4 5 7 9 4 3 % b o n d s fo r t h e p u r
p o se o f r e d e e m in g ( w it h o u t in t e r e s t ) a lik e a m o u n t o f 6 %
w a r r a n ts iss u e d b y th e S t a t e d u r in g th e y e a r s 18 8 7 , 18 8 8 ,
a n d 1 8 8 9 , a n d in c lu d in g s e v e r a l s m a lle r lo t s is s u e d in
s u b s e q u e n t y e a r s . O f t h is d e b t , $ 4 4 3 ,5 0 3 2 1 is h e ld b y th e
S t a t e S c h o o l F u n d , w h i l e t h e b a l a n c e ( $ 4 2 9 ,9 5 4 7 3 ) i s o w e d
la r g e ly to v a r io u s s a v in g s b a n k s th ro u g h o u t th e c o u n tr y .
W ith in t e r e s t to D e c . 3 1 19 0 8 , th e s e w a r r a n t s w o u ld a m o u n t
to $ 2 ,0 0 9 ,9 4 8 . T w o p r e v io u s a t te m p ts h a v e b e e n m a d e to
g e t th e v o t e r s to r e c o g n iz e t h is d e b t . I n 18 8 7 t h e y d e fe a t e d
a c o n s titu tio n a l a m e n d m e n t w h e r e b y i t w a s p ro p o se d to
r a i s e $ 6 0 0 ,0 0 0 t o p r o v i d e f u n d s f o r t h e p a y m e n t o f o b l i g a
t io n s o f th e S t a t e o u t s t a n d in g o n D e c . 3 1 18 8 8 . I n 18 9 6 th e
v o t e r s a g a in d e fe a t e d a p r o p o s it io n to is s u e 4 % b o n d s to
p a y a ll t h e w a r r a n t s o f 1 8 8 7 , 18 8 8 a n d 1 8 8 9 , w h ic h a t t h a t
t im e a m o u n t e d , w it h in t e r e s t , to $ 1 ,2 0 0 ,0 0 0 .
A t th e tim e th e se w a r r a n ts w e re is s u e d , i t w a s th e c u sto m
o f t h e S t a t e to u s e t h e r e v e n u e t o p a y th e o ld e s t w a r r a n t s
in o r d e r o f t h e ir r e g is t r a t io n . O w in g , h o w e v e r , to th e f a c t
t h a t th e a p p r o p r ia tio n s fo r th e y e a r s 18 8 9 a n d 18 9 0 w e re
a b o u t $ 5 5 0 ,0 0 0 in e x c e s s o f th e e s t im a t e d r e v e n u e s fo r th o s e
tw o y e a r s , th e G o v e rn o r re q u e ste d th e S ta te S u p re m e C o u rt
t o d e f i n e , a m o n g o t h e r t h i n g s , w h a t a p p r o p r i a t i o n s s h o u ld
h a v e th e p r e fe r e n c e . T h e S u p r e m e C o u r t ru le d t h a t th e
expenditures must correspond with the income for each year, t h a t
th e le g is la t iv e , ju d ic ia l a n d e x e c u t iv e d e p a r tm e n ts h a d th e
r ig h t o f w a y , in c lu d in g p e n a l in s t it u t io n s , & c ., a n d t h a t
each year’s revenue should pay that year’s indebtedness. W h e n
t h is d e c is io n w a s r e n d e r e d , t h e S t a t e T r e a s u r e r c h a n g e d h is
fo r m e r c u sto m o f p a y in g a ll w a r r a n t s in th e o r d e r o f t h e ir
r e g is tr a tio n , a n d c o m m e n c e d p a y in g th e w a r r a n ts o f 18 8 9
w it h th e r e v e n u e s o f t h a t y e a r , w it h th e r e s u lt t h a t th e w a r
r a n ts is s u e d s u b s e q u e n t to S e p t . 18 8 7 , n e a r ly a ll th e w a r r a n t s
o r 1 8 8 8 a n d t h e l a r g e r p a r t o f t h o s e i s s u e d i n 1 8 8 9 , w h il e n o t
e v e n t e c h n ic a lly ille g a l, w e re le ft w it h o u t a n y fu n d s to p a y
t h e m , t h e m o n e y w h ic h s h o u ld h a v e b e e n u s e d f o r t h e ir p a y
m e n t h a v in g b e e n a p p lie d to th e r e d e m p tio n o f th o s e is s u e d
in p r e v io u s y e a r s .
W e h a v e r e c e iv e d a l e t t e r fr o m a c o r r e s p o n d e n t in C h ic a g o
c r it ic iz in g s e v e r e ly th e a c t io n o f th e S t a t e in r e fu s in g to
h o n o r th e s e w a r r a n t s . T h e fo llo w in g a r e s o m e e x t r a c t s
fro m th is le tte r :
A . " T h e S ta te o f C o lora d o c a n n o t a ffo r d t o ta k e a d v a n ta g e o f this w ro n g
d o n e b y Itself t o d e fra u d In n o ce n t p e o p le . W h e n th e S ta te w as fo r c e d b y
the d ecision o f th e Su p rem e C ou rt t o a p p ly th e cu rre n t re ve n u e t o the p a y
m en t o f th e cu rren t expen ses o f ea ch fiscal y e a r, p ro v isio n s h o u ld h ave been
m a d e a t o n ce f o r th e p a y m e n t o f th e o u ts ta n d in g w a rra n ts.”
“ N ea rly e v e r y retirin g an d In co m in g G o v e rn o r a n d S ta te T reasu rer d u r
in g the last ten y ears has u rged th e L egislatu re t o m ak e p ro v is io n fo r the
p a y m e n t o f th ese w a rra n ts.”
“ T h ere Is n o d efen se t o the refu sal t o p a y th e w arra n ts, an d the o n ly
reason th e S ta te escap es p a y in g th em Is becau se It Is a s o v e r e ig n ty an d can
n o t be s u e d . I t th erefore rem ain s fo r th e h o n e s ty o f the p e o p le t o v o lu n
ta r ily p r o v id e f o r the p a y m e n t o f this d e b t . T h e fa ir nam e a n d cred it o f
th e S ta te has been Im paired , an d th e holders o f th e S ta te d e b t , fo r w h ich
th e y p a id n o t less th an p ar a n d a ccru e d In terest, are n o w a d v is e d th a t the
S ta te d oes n o t w ish t o p a y th e fa c e o f th e In d e b te d n e ss, m u c h less the In
te r e s t."
I o w a . — Constitutional Amendment Adopted.— A n a m e n d
m e n t to th e S t a t e C o n s titu tio n a u t h o r iz in g th e G e n e ra l
A s s e m b ly t o p r o v id e fo r th e c o n s tr u c tio n o f d r a in s , d itc h e s
L X X X V II
a n d le v e e s , a s w e ll a s th e o r g a n iz a t io n o f d r a in a g e d is t r ic t s ,
c a r r ie d , a c c o r d in g t o r e p o r t s , b y a v o t e o f 1 9 4 ,2 6 1 to 1 0 5 ,7 2 0
a t th e N o v . 3 e le c t io n . T h e a m e n d m e n t , w h ic h is a n a d d itio n
t o S e c t io n 18 o f A r t ic le 1 , is a s fo llo w s :
r n w E T iT -
C a l i f o r n i a . — Vote on Constitutional Amendments.__ T h e
o ffic ia l r e tu r n s o n th e c o n s titu tio n a l a m e n d m e n ts s u b m itte d
o n N o v . 3 ( V . 8 5 , p . 2 3 5 ) a r e a s fo llo w s :
1 1 6 ,6 0 0
[VOL.
M a r c e l l u s , O n o n d a g a C o u n t y , N . Y .— Bonds Declare
Illegal.— In a n o p i n i o n h a n d e d d o w n N o v . 3 0 J u s t i c e W i l l i a m
S . A n d re w s o f th e S u p re m e C o u rt ( F ift h Ju d ic ia l D is tr ic t)
d e c la r e d ille g a l th e $ 2 5 ,0 0 0 w a t e r - w o r k s b o n d s a w a r d e d o n
O c t. 1 2 to W . N . C o le r & C o . o f N e w Y o r k C it y . S e e V . 8 7 ,
p . 1 0 4 2 . T h e b o n d s w e r e a p p r o v e d a t a s p e c ia l e le c t io n
b u t th e V illa g e P r e s id e n t r e fu s e d to s ig n t h e m o n t h e g r o u n d
t h a t o f th e 8 8 v o t e s fo r th e b o n d is s u e , 5 7 w e re c a s t b y w o m e n ,
le a v in g b u t 3 1 v a lid v o t e s in f a v o r o f th e p r o p o s it io n to 4 3
v o t e s a g a in s t i t . A c c o r d in g to th e S y r a c u s e “ S t a n d a r d ”
o f D e c . 1 , J u s t ic e A n d r e w s d e n ie s th e a p p lic a t io n fo r a w r i t
o f m a n d a m u s t o c o m p e l t h e V illa g e P r e s id e n t to s ig n t h e
b o n d s a n d h o ld s t h a t “ T h e v o t e s o f w o m e n s h o u ld n o t b e
r e c e iv e d . T h e y o n ly v o te o n th e q u e s tio n a s to w h e t h e r
a v illa g e s h a ll b e in c o r p o r a t e d (s e c . 1 2 ) , a n d a ls o u p o n a
p r o p o s itio n to r a is e m o n e y b y t a x o r a s s e s s m e n t o r fo r th e
d is s o lu t io n o f t h e v illa g e ( s e c . 4 1 ) . T h e p r o p o s it io n t o lo a n
d o e s n o t c o m e w i t h i n a n y o f t h e s e c la s s e s o f c a s e s . T h i s
o b je c t io n m a y b e r a is e d in t h is p r o c e e d in g (P e o p le e x . r e l.
S m i t h v s . G r e a v e s , 2 7 N . Y . 4 5 ” .)
M i s s o u r i . — Vote on Constitxitional Amendments.— T h e o f f i
c ia l v o t e c a s t N o v . 3 o n th e e ig h t c o n s titu tio n a l a m e n d m e n ts
d e s c r i b e d in V . 8 5 , p . 1 7 3 , w a s a s f o l l o w s :
p e n s a tio n
' f 0 r " t0 , 1 7 6 ■7 j 56 “ a g a i n s t ” t h e a m e n d m e n t r e l a t i n g t o t h e c o m
o f m e m b e r s o f th e G en era l A s s e m b ly .
s p e c l a i 8 t a x 'f o r ^ r o a d i n d ’ b l l d ^ T u K e s * . 110 a m e n d m e n t
11a t j v e 6 a n d ' r e f e r e n d u m . 3 ° °
p r o v ld ln g
fo r
a
“ a g a l n s t ’ ' t h e a m e n d m e n t c o n c e r n i n g t h e I n l-
t0- 1 7 1 : 6 £ 8 " a g a i n s t " t h e a m e n d m e n t r e l a t i n g t o J u d g e s o f
th e S u p r e m e C o u r t a n d C o u r t o f A p p e a ls .
. ' 3M 8„ 2„ “ i 0 *-" t 0 1 7 2 , 5 0 8 “ a g a i n s t ” t h e a m e n d m e n t p r o v i d i n g f o r t h e
s e p a r a tio n o f th e s o u r c e s o f S ta te a n d lo c a l r e v e n u e ,
t in n
t0 1 5 9 ,5 5 4 " a g a i n s t ” t h e a m e n d m e n t r e g a r d in g t h e c r e a
t io n o f d e b t f o r w a t e r o r lig h t p la n ts .
1 5 7 .4 7 8 " a g a i n s t ” t h e a m e n d m e n t p r o v i d i n g f o r a S t a t e
t a :? o f.0ro
» r r a ^ Il e n t * u r u l *o r p u b l i c r o a d s a n d h i g h w a y s .
1 2 7 ,2 7 6
fo r
t o 1 6 5 ,3 8 8 “ a g a in s t ” t h e a m e n d m e n t r e la t in g t o t h e c r e a
t io n o r d e b t f o r th e c o n s t r u c tio n o f s u b w a y s .
W ith th e e x c e p t io n o f th e s e c o n d a n d t h ir d a m e n d m e n t s ,
a ll w e re d e fe a te d .
M u n i c i p a l S e c u r i t i e s . — Precautions Which Should Be Taken.
— A r t h u r M . H a r r is , o f N . W . H a r r is & C o ., d is c u s s e d
“ M u n ic ip a l B o n d s ” b e fo r e th e B a n k in g a n d I n v e s t in g
C la s s o f th e W e s t S id e Y . M . C . A . W e d n e s d a y n ig h t, D e c . 9 ,
in th e a u d ito r iu m , 3 2 0 W e s t 5 7 th S t . H e m a d e so m e
u s e fu l s u g g e s t io n s a s t o t h e p r e c a u t io n s w h ic h b o n d b u y e r s
s h o u ld o b s e r v e . W e q u o t e s o m e e x t r a c t s fr o m th e a d d r e s s
I t Is a r e c o g n i z e d p r i n c i p l e i n l a w t h a t m u n i c i p a l s e c u r i t i e s m u s t n o t b e
Is s u e d f o r im p r o p e r p u r p o s e s .
In th e W e s t so m e b o n d s h a v e b e e n Issu ed
in a id o f th e s u g a r -b e e t in d u s t r y , a n d h e r e a n d t h e r e o t h e r b o n d s h a v e
b e e n is s u e d In a id o f v a r io u s m a n u f a c t u r i n g e n t e r p r i s e s .
B o n d s s o is s u e d
a r e n o t b o n d s I s s u e d f o r s t r i c t l y m u n i c i p a l p u r p o s e s a n d a r e . ir e n e r a llv
s p e a k in g . I lle g a l a n d u n c o ll e c t ib le .
T h e cou rts h a ve co n te n d e d th a t a
m u n i c ip a l it y h a s n o r ig h t t o t a x a ll f o r t h e b e n e fit o f a f e w .
In so m e ca ses
b o n d s h a v e b e e n is s u e d o n t h e ir fa c e f o r s t r ic t l y m u n ic ip a l p u r p o s e s w h ile
in r e a l i t y I s s u e d f o r t h e a i d o f a c o r p o r a t i o n .
.
.
.
T h e m u n ic ip a lit y , a g a in , m a y h a v e o v e r lo o k e d s o m e p r o v is io n o f th e
la w s u c h a s a d v e r t is in g th e r e q u ir e d n u m b e r o f d a y s f o r b id s , o r p o s s ib ly
i K -n e w ls s u e w o u l d b r in g t h e d e b t a b o v e t h e c o n s t i t u t i o n a l li m i t o f
’ TT h e v a lu e o f a le g a l o p i n io n b y a s p e c ia lis t c a n n o t b e o v e r
e s tim a te d .
I n c a s e s o f I m p o r t a n t Issu e s a b a n k in g h o u s e w ill o f t e n s e c u r e
a n o f t h e le g a l p a p e r s p e r t a i n i n g t o t h e is s u e a n d h a v e t h e v a l i d i t y p a s s e d
u p o n b y th e ir a t t o r n e y b e fo r e th e d a t e o f s a le , a n d th e n m a k e th e ir b id
w it h o u t a n y c o n d it io n .
N e w Y o r k C i t y is t h e o n e e x c e p t i o n , w i t h w h i c h I
a m f a m i l i a r , w h e r e t h e b i d d e r is n o t a l l o w e d t h e p r i v i l e g e o f m a k i n g a n y
I n v e s tig a tio n w h a t e v e r a s t o th e le g a lit y o f th e b o n d s o ffe r e d f o r s a le .
H e m u s t t a k e t h e m , if a t a ll, a s o ffe r e d .
I n p u r c h a s in g m u n ic ip a l s e c u r it ie s th e r e a r e s e v e r a l p o in t s w h ic h t h e
b u y e r m u s t c o n s id e r .
H e s h o u ld n o t p u r c h a s e th e b o n d o f a m u n ic ip a lit y
w it h t o o s m a ll a p o p u la t io n .
A f e w y e a r s a g o a c e r t a i n t o w n In K a n s a s ,
s it u a t e d o n o n e s id e o f t h e s t r e a m , is s u e d a s m a ll b lo c k o f b o n d s , s o ld t h e m
a n d t h e n m o v e d a ll o f t h e b u ild in g s o v e r t o t h e o t h e r s id e o f t h e s t r e a m .
T h is le ft th e t o w n -s it e , b u t w it h n o o ffic ia ls t o le v y a t a x a n d n o t h i n r
b u t v a c a n t p r o p e r t y t o le v y a g a in s t .
T h e b u y e r m u s t a ls o c o n s id e r t h e fin a n c ia l c o n d it i o n , t h e d e b t lim it , If
a n y , th e p u r p o s e , r a te o f In te re st, w h e r e p a y a b le , th e tim e to ru n a n d th e
a s t r e c o r d o f th e m u n ic ip a lity .
T h e c h a r a c t e r o f t h e p la c e s h o u ld a ls o
e c o n s id e r e d .
A n in v e s to r w o u ld n o t c a r e t o p u r c h a s e th e b o n d s o f a
s m a ll t o w n r e c o g n iz e d a s a o n e -in d u s t r y t o w n .
T h is w o u ld
a p p ly
p a r
t ic u la r ly t o a s m a ll m in in g t o w n .
A g r i c u l t u r e Is a l w a y s a d e p e n d a b l e r e
sou rce.
A m in e , h o w e v e r , m a y g iv e o u t a n d th e in h a b it a n t s m o v e a w a y
S o m e I n v e s t o r s e v e n g o s o f a r a s t o c o n s i d e r t h e q u e s t i o n o f d a n g e r In t h e
ca se o f w a r.
O n e w o m a n , I w e ll r e m e m b e r , c a m e I n t o o u r o f f i c e f o r t h e
p u r p o s e o f b u y in g m u n ic ip a l s e c u r itie s , a n d
w h e n o ffe r e d a b o n d o f th e
c i t y o f B o s to n re m a r k e d t h a t s h e w a s a fr a id t o b u y a B o s to n b o n d b e c a u s e
a f o r e ig n n a v y m ig h t c o m e u p in t h e n ig h t a n d d e s t r o y t h e c i t y .
S o sh e
f i n a l l y d e c i d e d t o b u y t h e b o n d s o f a c i t y In K a n s a s .
E
N e w O r l e a n s , L a .— Probable Early Bond Offering.— T h e
A c t a u t h o r i z i n g t h e c i t y o f N e w O r le a n s t o i s s u e n e w p u b l i c
im p r o v e m e n t b o n d s to th e a m o u n t o f $ 8 ,0 0 0 ,0 0 0 h a v in g b e e n
r a t ifie d b y th e a d o p tio n o f a c o n s titu tio n a l a m e n d m e n t,
v o t e d u p o n b y t h e p e o p le o f t h e S t a t e o f L o u i s i a n a a t t h e
g e n e r a l e le c t io n o n N o v . 3 l a s t , t h e B o a r d o f L iq u id a t io n o f
t h e C i t y D e b t o f N e w O r le a n s i s p r e p a r i n g t o c a l l f o r b i d s f o r
t h e s a le o f f o u r m i l l i o n s o f t h e s e b o n d s , w h i c h , b y a s p e c i a l
A c t o f th e L o u is ia n a L e g is la t u r e , w ill b e s o ld a t a d is c o u n t
o f 6 % , i n t h e f o r m o f a c o m m is s io n t o b e a l l o w e d t o t h e p u r
c h a s e r o f o n e - h a lf o f t h e a u t h o r iz e d is s u e . I n q u ir ie s a r e
a l r e a d y b e in g r e c e i v e d b y t h e S e w e r a g e a n d W a t e r B o a r d
a n d th e B o a r d o f L iq u id a t io n o f th e C it y D e b t o f N e w O r
le a n s fr o m v a r io u s fin a n c ia l in t e r e s t s , a s k in g fo r p a r t ic u la r s
i n r e g a r d t o t h e s a le o f t h i s i s s u e o f n e w p u b l i c i m p r o v e m e n t
b o n d s. T h e im p r o v e d s ta te o f th e g e n e r a l b o n d m a r k e t
a n d th e fa c t t h a t th e se b o n d s, b e a r in g 4 % in t e r e s t a n d
Deo. 12 1908.)
THE CHRONICLE
g u a r a n t e e d b y th e S t a t e o f L o u is ia n a , a r e t o b e s o ld o n s u c h
fa v o r a b le t e r m s , a r e c ir c u m s t a n c e s c a lc u la t e d to d ir e c t
a tte n t io n to th e s a m e .
T h e p a y m e n t o f th e p r in c ip a l a n d in t e r e s t o f th e se b o n d s
is p r o v id e d fo r b y th e d e d ic a t io n o f a ll s u r p lu s a r is in g a f t e r
J a n . 1 19 0 8 fr o m th e o n e - h a lf o f t h e 1 % d e b t t a x le v ie d
b y t h e c i t y o f N e w O r le a n s b y v i r t u e o f A r t i c l e 3 1 4 o f t h e
C o n s t it u t io n o f L o u is ia n a , a n d fr o m t h e s p e c ia l t a x o f 2 m ills
v o t e d b y t h e p r o p e r t y t a x p a y e r s o f t h e c i t y o f N e w O r le a n s o n
J u n e G 1 8 9 9 , s a i d s u r p l u s b e i n g d e f in e d a s a l l t h e r e s i d u e i n
e a c h y e a r u n til J a n . 1 19 4 2 r e m a in in g a ft e r p a y in g th e
in t e r e s t o n th e p r e v io u s is s u e o f $ 1 2 ,0 0 0 ,0 0 0 o f p u b lic im
p r o v e m e n t b o n d s o f th e c i t y o f N e w O r le a n s .
G r e a t c o n s e r v a t is m w a s a p p a r e n t ly s h o w n in th e m a k in g
o f th e e s t im a t e o f r e v e n u e s u p to 19 4 2 , w it h th e r e s u lt t h a t
t h e a c t u a l r e v e n u e s d e r iv e d fr o m t h e 2 - m ill t a x a n d o n e - h a lf
th e s u r p lu s o f th e 1 % d e b t t a x fo r th e y e a r 19 0 7 t o ta le d
$ 9 4 4 ,0 0 0 , w h e r e a s in th e t a b le o f e s t im a t e d r e v e n u e s t h is
a m o u n t w a s n o t e x p e c te d to b e re a c h e d u n til th e y e a r 1 9 1 5 .
I n o t h e r w o r d s , th e in c r e a s e in a s s e s s m e n t s o f th e c i t y o f
N e w O r le a n s h a s b e e n s u c h a s t o a n t i c i p a t e b y s e v e n y e a r s
t h e e s t i m a t e d r e v e n u e s , a n d t h e a s s e s s m e n t s c o u ld r e m a i n
s ta t io n a r y fo r th e n e x t s e v e n y e a r s w ith o u t im p a ir in g th e
fin a n c ia l p la n d e v is e d fo r t h e p a y m e n t o f th e p r in c ip a l a n d
in t e r e s t o f a ll th e p u b lic im p r o v e m e n t b o n d s o f th e c it y o f
N e w O r le a n s . In 19 0 7 t h e in c r e a s e in a s s e s s m e n t s w a s
G .2 5 , n o t w it h s t a n d in g t h e f a c t t h a t N e w O r le a n s , in c o m m o n
w it h m a n y o th e r c itie s o f th e c o u n t r y , s u ffe r e d fr o m th e
e f f e c t s o f t h e fin a n c ia l p a n ic b e g in n in g in th e f a ll o f t h a t y e a r .
T h is y e a r th e r e h a s b e e n a n o t h e r h e a lt h y in c r e a s e in a s s e s s
m e n t s , a lth o u g h th e fu ll e ffe c t s o f th e r e c e n t fin a n c ia l d e
p r e s s io n h a v e n o t b e e n e n t ir e ly r e m o v e d .
T h e w o r k d o n e b y th e P o r t I n v e s t ig a t io n C o m m is s io n o f
L o u i s i a n a i n p l a c i n g N e w O r le a n s o n e q u a l c o m m e r c i a l t e r m s
w it h G a lv e s t o n a n d o th e r S o u th e r n p o r ts a n d th e s e t t lin g o f
t h e l a b o r p r o b le m t h e r e f o r t h e n e x t f i v e y e a r s a r c f a c t o r s
t h a t s h o u ld t e n d t o i n c r e a s e t h e c o m m e r c e o f N e w O r l e a n s ,
a n d , in c id e n t a lly , a u g m e n t p r o p e r ty v a lu e s . A n o th e r fa c to r
t h a t is e x p e c t e d to h e lp t h e c o m m e r c ia l a n d fin a n c ia l g r o w t h
o f N e w O r le a n s i s t h e f a c t t h a t , a t t h e e l e c t i o n h e l d o n N o v . 3 ,
a c o n s tit u t io n a l a m e n d m e n t w a s u n a n im o u s ly a d o p te d b y
t h e p e o p le o f L o u i s i a n a e x e m p t i n g m o r t g a g e n o t e s f r o m
t a x a t i o n . T h e r e s u lt a lr e a d y o f t h is p ie c e o f le g is la t io n h a s
b e e n th e t u r n in g o f c o n s id e ra b le fo r e ig n c a p it a l in t o th e
S o u t h e r n m e t r o p o l i s , w h i c h , s in c e t h e C i v i l W a r , h a s l a n
g u is h e d fo r la c k o f s u ffic ie n t b a n k in g c a p ita l.
T e x a s .— Motion for Rehearing School Bond Suit Overruled.—
O n N o v . 1 8 th e S t a t e S u p r e m e C o u r t o v e r r u le d th e m o tio n
fo r a r e h e a r in g in th e c a se o f S n y d e r , e t . a l ., v s . th e B a ir d
In d e p e n d e n t S ch o o l D is tr ic t, in v o lv in g th e v a lid it y o f th e
r a t e o f t a x le v ie d in t h a t d is t r ic t . I n it s o r ig in a l o p in io n th e
C o u r t d e c la r e d th e r a t e u n c o n s t it u tio n a l o n th e g r o u n d t h a t
i t w a s in e x c e s s o f th e lim it o f 2 0 c e n t s o n th e $ 1 0 0 v a lu a t io n
p r e s c r ib e d b y th e C o n s t it u t io n . T h e s u it w a s a t e s t c a se
s a id t o a f f e c t th e v a l i d i t y o f a b o u t 3 J ^ m illio n s o f s c h o o l
b o n d s is s u e d b y in d e p e n d e n t s c h o o l d is t r ic t s th r o u g h o u t th e
S t a t e . S e e V . 8 7 , p . 12 5 4 . T h e re h a v e , h e n c e , b e e n s e r i
o u s a p p r e h e n s io n s a s to th e p o s s ib le c o n s e q u e n c e s o f th e d e
c is io n . T h e f o llo w in g e x p la n a t o r y s t a t e m e n t , h o w e v e r ,
g iv e n o u t b y th e A tto r n e y -G e n e r a l, R o b e r t V . D a v id s o n ,
h e lp s to c le a r u p th e s it u a t io n m a t e r ia lly :
T h e A t t o r n e y - G e n e r a l s ta te d t h a t , w h ile th e r e w a s a lim it a t io n u p o n th e
p o w e r o f c o m m o n s c h o o l d is tr ic ts n o t e m b r a c e d w ith in a n y m u n ic ip a lit y to
a s s e s s a n d l e v y t a x e s In e x c e s s o f 2 0 c . o n t h e S 1 0 0 , y e t t h e r e w a s n o c o n
s t it u t io n a l lim it a t io n o n s a id d is t r ic t s f r o m Is s u in g b o n d s f o r s c h o o l b u il d
in g s .
T h a t th e p o w e r o f t a x a t io n d id n o t a ffe c t th e p o w e r o f s u c h c o m m o n
s c n o o l d is t r ic t s t o Issu e b o n d s , b u t o n l y a ffe c t e d t h e ir p o w e r t o r a is e m o n e y
b y t a x a t io n t o p a y I n t e r e s t o n s a id b o n d s a n d r e d e e m t h e m a t m a t u r it y .
T h a t th e p e o p le h a v in g a d o p t e d a t th e r e c e n t e le c t io n a c o n s t it u t io n a l
a m e n d m e n t a u th o r iz in g c o m m o n s c h o o l d is tr ic ts to a ssess a n d le v y ta x e s
n o t e x c e e d in g 5 0 c o n t h e $ 1 0 0 , t h a t t h is p o w e r , w h e n p u t I n t o o p e r a t i o n b y
p r o p e r le g is la t io n , w o u ld fu r n is h th e s e d is t r ic t s a m p le m e a n s n o t o n l y t o
m a in t a in t h e ir s c h o o ls , b u t a ls o t o p a y t h e I n te r e s t o n b o n d s h e r e t o f o r e Is
s u e d o r w h ic h m a y h e r e a fte r b e Issu ed b y th e m a n d to r e d e e m s a id b o n d s a t
m 'T h e * A t t o r n e y - G e n e r a l f u r t h e r s t a t e d t h a t I n h i s o p i n i o n a l l t h e b o n d s
h e r e t o f o r e Issu e d a n d s o ld b y t h e s c h o o l d is t r ic t s o f th is S t a t e w e r e v a l id a n d
le g a l o b li g a t io n s a n d b in d in g o n s a id d is t r ic t s .
U t a h . — Vote on Constitutional Amendments.— O f f i c i a l r e
tu r n s in d ic a te th e d e fe a t o n N o v . 3 o f th e tw o c o n s titu tio n a l
a m e n d m e n ts r e la tin g to th e fo r m a tio n o f n e w c o u n tie s a n d
th e c h a n g in g o f b o u n d a rie s a n d th e lim ita t io n o f S t a t e t a x
le v ie d o n p r o p e r t y fo r S t a t e p u r p o s e s . A fa v o r a b le v o t e ,
h o w e v e r , w a s p o ll e d o n t h e a m e n d m e n t p r o v i d i n g f o r t h e
t a x a t io n b y th e S t a t e o f a ll m in e s a n d m in in g c la im s c o n
t a in e d t h e r e in . T h e s e th re e a m e n d m e n t s w e re p r in t e d in
f u ll in V . 8 5 , p . 1 5 3 4 . T h e v o t e fo llo w s :
1 5 ,8 8 2 " f o r ” t o 1 2 ,0 6 9 " a g a i n s t ” t h e a m e n d m e n t r e la t in g t o t h e t a x a t io n
b y t h e S t a t e o f a ll m in e s a n d m in i n g c l a i m s .
1 3 ,2 8 2 " f o r ” t o 1 3 ,4 5 9 " a g a i n s t ” t h e a m e n d m e n t r e l a t i n g t o t h e li m it a t io n
o f S t a te t a x le v ie d o n p r o p e r t y f o r S t a t e p u r p o s e s .
9 ,7 7 0 " f o r ” t o 1 6 ,2 2 2 " a g a i n s t ” t h e a m e n d m e n t r e la t in g t o t h e f o r m a t i o n
o f n e w c o u n tie s a n d th e c h a n g in g o f b o u n d a r ie s .
V i r g i n i a - W e s t V i r g i n i a .— Hearing in Debt Settlement Suit
Postponed.— O n N o v . 1 0 e x - R e p r e s e n t a t i v o C h a s . E . L i t t l e
f i e ld o f M a i n e , a p p o i n t e d a s S p e c i a l M a s t e r o n J u n e 1 ,
re c e iv e d a n d e x a m in e d th e a c c o u n ts p r e p a re d b y th e S ta te
o f V ir g in ia in th e d e b t - s e t t le m e n t lit ig a t io n b e tw e e n t h a t
S t a t e a n d W e s t V ir g in ia . S e c V . 8 7 , p . 1 1 2 . T h e h e a r in g
w a s a d jo u r n e d u n til F e b . 1 5 19 0 9 , a s c o u n s e l fo r th e S t a t e o f
W e s t V ir g in ia s ta t e d t h a t t h e y w o u ld b e u n a b le to c o m p le te
t h e ir a c c o u n t s b e fo r e th e n e w y e a r . I t w a s a g r e e d , h o w
e v e r , t h a t a n y im p o r t a n t o b je c t io n s to V ir g in ia ’s t e s t im o n y
s h o u ld b e m a d e a t o n c e . T h is a g r e e m e n t d o e s n o t p r o h ib it
th e S t a t e o f W e s t V ir g in ia fr o m m a k in g fu r t h e r o b je c t io n s
la t e r o n . I t w a s a ls o a g r e e d t h a t , if u p o n o b jc c t fo n , a n y
e v id e n o e s h o u ld b e t h r o w n o u t o n e it h e r s id e , c o u n s e l s h o u ld
1557
h a v e th e r ig h t to in tr o d u c e o th e r t e s t im o n y a lo n g th e s a m e
lin e .
U n i t e d S t a t e s . — Sale of Panama Canal Bonds.— T h e
$ 3 0 ,0 0 0 ,0 0 0 2 % 1 0 - 3 0 - y e a r ( o p t io n a l) g o ld c o u p o n o r r e g is
t e r e d P a n a m a C a n a l b o n d s o ffe r e d o n D e c . 5 ( V . 8 7 , p . 1 3 3 3 ,
13 7 2 ) w e re m o re th a n th re e tim e s o v e r - s u b s c r ib e d . O f a
t o ta l o f 8 3 4 b id s r e c e iv e d , 8 3 1 , a g g r e g a t in g $ 1 0 2 ,8 0 8 ,8 0 0 ,
a n d r a n g in g fr o m 1 0 2 .2 7 7 8 to 1 0 5 , w e re c o n s id e r e d r e g u la r ;
t h e r e m a in in g t h r e e w e r e n o t a c c o m p a n ie d b y th e r e q u ir e d
d e p o s it . A n a v e r a g e p r ic e o f 1 0 2 .4 3 6 8 w a s r e a liz e d o n t h e
15 9 b id s a c c e p te d . T h e la r g e s t a w a r d s w e re to F is k &
R o b in s o n o f N e w Y o r k C i t y , w h o s e c u r e d $ 1 0 ,0 0 0 ,0 0 0 a t
p r ic e s r a n g in g fr o m 10 2 .2 8 3 to 1 0 2 .7 8 3 , a n d to a s y n d ic a te
c o m p o se d o f th e N a tio n a l C it y B a n k , J . P . M o rg a n & C o .
a n d th e F ir s t N a tio n a l B a n k o f N e w Y o r k C it y , w h o g o t
$ 1 0 ,2 4 2 ,7 6 0 a t 1 0 2 .2 7 7 8 , t h e lo w e s t p r ic e a t w h ic h b o n d s
w e re a w a r d e d . T h e fo llo w in g a r c th e s u c c e s s fu l b id d e r s :
J . F . H o u s e m a n ,B r a d
s h a w , N e b ........... .......
J . A . O e n n ln g , F o u n
t a in C i t y , W l s ______
E li C o l e , J r ., B e lle
v u e , l a _______________
C h a s . C . A v e r y , P h ll ll p s b u r g , F a ________
C it iz e n s ' N a t . B a n k ,
A d a m s , N . Y ______
D . C . L a t o u r e t t e .O r o g o n C i t y , O r e ...........
C . W . M in e a r, H e n -\
d r lc k s , W . V a _____/
A e t n a N a t io n a l B k .,\
N e w Y o r k .................
W h i t m a n C o . N a t .\
B k . , R o s a l i a ,W a s h /
G eo. E . W e b b , San
A n g e l o , T e x ________
U n io n
N a t ..
Bank,
F o s t o r l a , O h i o _____
F ir s t N a t . B a n k , M id
l o t h i a n , T e x ..............
N a t . B a n k o f U n io n
C i t y , P a .......................
j
R u t h D illo n , W ic h ita ,
K a n ................................
F i r s t N a t io n a l B a n k ,
1 , 0 0 0 . . 1 0 4 .5 0
N o r w o o d , O h i o _____
f
1 0 0 ..
1 0F4 ir
.1s0t N a t . B k . , C h i c .!
I
H . A . B u r n e tt, W ic h i
1 4 0 ..
1 04
t a , K a n ........................
1 1 , 5 0 0 . .1 0 3 . 5 0
f
$ 1 0 0 ..1 0 5
4 .0 0 0 .
2 0 ..
1 .0 0 0 .
5 0 .0 0 0 .
5 0 .0 0 0 .
5 .0 0 0 .
5 .0 0 0 .
5 0 .0 0 0 .
1 0 3 .5 .0
1 0 3 .5 0
1 0 2 .5 .0
1 0 3 .5
. 0
1 03 .
1 0 3 .5 .0
1 0 3 .2 .5
M a ck a y & C o ., N . Y .
-1 0 3 .2 6 2
$ 1 0 ,0 0 0 .- 1 0 2 .6 2 5
2 ,0 0 0 .
1 0 0 ,0 0 0 .
1 0 0 ,0 0 0 .
1 0 0 ,0 0 0 .
. 1 0 2 .6 2 5
. 1 0 2 .6 2 5
.1 0 2 .5 0
. 1 0 2 .3 7 5
INI
1 0 ,0 0 0 , . 1 0 2 .6 0
3 0 0 . 0 0 0 . .1 0 2 .7 6
3 0 0 . 0 0 0 . . 1 0 2 .7 1
3 0 0 . 0 0 0 . . 1 0 2 .6 6
3 0 0 . 0 0 0 . .1 0 2 .6 2
3 0 0 . 0 0 0 . .1 0 2 .5 8
3 0 0 . 0 0 0 . .1 0 2 .5 6
3 0 0 . 0 0 0 . .1 0 2 .5 2
1 0 2 .4 8
3 0 0 .0 0 0
2 0 0 .0 0 0 . 1 0 2 .4 6
2 0 0 .0 0 0 . 1 0 2 .4 2
1 0 0 ,0 0 0 .1 0 2 .3 8
1 0 0 ,0 0 0 . 1 0 2 .3 2
- 1 0 3 .2F5lo r id a N a t . B a n k ,
1 0 0 .0 0 0 .
.1 0 2 . 5 5
J a c k s o n v il le , F l a . .
-1 0 2 .5 5 1
L e w l s o h n B r o s . ,N e w / 2 0 0 . 0 0 0 .
Y o r k .............. ............/ 2 0 0 . 0 0 0 . . 1 0 2 . 3 9 7
5 0 , 0 0 0 . . 1 0 3 .1 2 5
f
1 0 , 0 0 00 ..-.1 0 2 . 5 3
5 . 0 0 0 . 1 0 3 .1 .0
2 0 , 0 0 0 . . 1 0 2 .5 2
F ir s t N a t io n a l B a n k , !
5 . 0 0 0 . 1 03 .
B irm in g h a m , A l a . I
2 0 , 0 0 0 . 1 0 2 .5 1
5 . 0 0 0 . 1 0 2 .9 .5
6 5 . 0 0 0 . . 1 0 2 .5 1
C o a l & Iro n N a tio n a l 1
5 . 0 0 0 . 1 0 2 .9 .0
B an k , N ew Y o r k ./
7 0 .0 0 0 . . 1 0 2 .3 8
5 . 0 0 0 . 1 0 2 .8 .5
U n io n N a t i o n a l B a n k ,
F arm ers’ L oa n & T r.
5 ,0 0 0 1 0 2 .8 0
C le v e la n d , O h i o . . .
1 0 0 ,0 0 0 .1 0 2 .5 0 0 5
C o . , S lo u x C l t y , l a .
5 , 0 0 0 . . 1 0 2 .7 0
F ir s t N a t i o n a l B a n k ,
5 . 0 0 0 . 1 0 2 .6 .0
1 8 , 7 6 0 . .1 0 2 . 5 0
V a le n t i n e , N e b _____
D u lu t h S a v i n g s B a n k ,
5 . 0 0 0 . 1 0 2 .5 .0
D u lu t h , M i n n ...........
1 0 0 ,0 0 0 .1 0 2 .5 0
5 ,0 0 0 1 0 2 .4 0
2 0 0 ,0 0 0 .1 0 2 .5 0 ,
1 ,0 0 0 . .1 0 3
H ow a rd
E . P reston ,
2 0 0 ,0 0 0 . .1 0 2 .4 0
N a tio n a l P a r k B a n k ,!
L e e s v ll lc , O h i o _____
N e w Y o r k ................ 1
2 0 0 ,0 0 0 . 1 0 2 . 3 0 /
M oses P u terb a u g h ,
C . H . C a rp en ter, R a
3 . 0 0 0 . .1 0 3 .
P e r u , I n d __________
c i n e , W l s ................
1 , 0 0 0 . . 1 0 2 .5 1
5 . 0 0 0 . .1 0 3 .
F ir s t N a t io n a l B a n k , /
f l , 0 0 0 ,0 0 0 . 1 0 2 . 5 0 0 5
5 . 0 0 0 . .1 0 2 .5 .0
H a m p t o n . N e b ___ /
C h a s e N a t i o n a l B a n k ! 1 ,0 0 0 ,0 0 0 .1 0 2 .4 0 0 5
W a x a h a c h le N a t .B k .,
N e w Y o r k ...............1 1 , 0 0 0 ,0 0 0 . 1 0 2 . 3 0 0 5
3 0 . 0 0 0 . .1 0 3 .
W a x a h a ch le , T e x . .
R . O . N e v e n s , C o ld F ir s t N a t io n a l B a n k ,
w a t e r , K a n _________
5 ,0 0 0 . . 1 0 2 .5 0
1 0 . 0 0 0 . ..10 3
W y t h e v ll le , V a _____
A b r a m R u t t , C a s e y ,l a
2 5 , 0 0 0 . .1 0 2 .5 0
F ir s t N a t io n a l B a n k ,
F ir s t N a t i o n a l B a n k ,
J a n e s v ille , W l s _____
2 5 , 0 0 0 .1 0 3
C o r n in g , N . Y ...........
2 5 , 0 0 0 . .1 0 2 .5 0
F ir s t N a t io n a l B a n k ,
N o r m a n , O k l a _____
F ir s t N a t i o n a l B a n k ,
5 0 , 0 0 0 . . .10 3
V is a lia , C a l................
2 0 , 0 0 0 . . 1 0 2 .5 0
F ir s t N a t io n a l B a n k ,
H e n d e r s o n , N e b ___
F ir s t N a t i o n a l B a n k ,
1 3 ,0 0 0 .10 3
T r e n t o n , T e n n _____
1 5 ,0 0 0 .-1 0 2 .5 0
F ir s t N a t io n a l B a n k ,
N a t. B a n k o f C om
A b in g d o n , H I______
1 5 ,0 0 0 .10 3
m e r c e , D e t r o i t ,M i c h
1 0 ,0 0 0 . 1 0 2 .5 0
F ir s t N a t io n a l B a n k ,
1 0 ,0 0 0 1 03
A r n o ld L e o , N . Y _____
2 0 . .1 0 2 .5 0
C a s s v illc , M o ________
F ir s t N a t i o n a l B a n k ,
J u lia P ie r s o n , C a r r o ll
C a ss L a k e , M i n n ___
2 0 .1 0 3
1 0 ,0 0 0 . .1 0 2 .5 0
t o n , 111_______________
A m o s N . M u s s e r, M t .
Jam es
C.
W h e e le r ,
3 ,0 0 0 .1 0 3
8 ,0 0 0 . .1 0 2 .5 0
J o y , P a _____________
W a s h in g to n , D . C .
1 0 , 0 0 0 . . .1 0 3
E l k N a t io n a l B a n k , /
S . S . W o lg e m u th , M t.
1 5 , 0 0 0 . . .1 0 2 .5 0
J o y , P a ................... ..
8 ,0 0 0 . . 1 0 2 .5 0
F a y e t t e v il le , T e n n /
F ir s t N a t i o n a l B a n k ,
J . A . W a d d e y ,W a s h
3 ,0 0 0 .1 0 3
1 0 ,0 0 0 . . 1 0 2 .5 0
M t . J o y , P a ........... ..
in g t o n , D . C -----------J . S . C a r m a c y , M t.
P a g e V a ll e y N a t i o n a l
7 ,5 0 0 .1 0 3
8 ,0 0 0 . .1 0 2 .5 0
J o y , P a .............. ..........
B a n k , L u ra y, V a . .
A . N . N I s s le y , M t .
Jam es
E.
C on n or,
J o y , P a _____________
2 4 0 . . .1 0 3
8 ,0 0 0 . . 1 0 2 .5 0
G a l lo n , O ...................
T h o s . J . B r o w n , M t.
F ir s t N a t io n a l B a n k ,
8 , 0 0 0 . . 1 0 2 .5 0
J o y , P a .....................
5 . 0 0 0 . .1
. 03
G r a v e t t e , A r k ...........
I s a a c B . W a lk e r , D a l
H arry
W.
N ic h o ls ,
la s , T e x ................... ..
1 0 ,0 0 0
1 0 2 .5 0
4 0 .1 0 3
W a s h in g to n , D . C .
F ir s t N a t i o n a l B a n k ,
F ir s t N a t io n a l B a n k ,
2 0 , 0 0 0 . 1 0 2 .5 0
S t . M a r y s , O h i o ___
1 8 ,5 0 0 .. .1 0 3
H e t t i n g e r , N . D ___
H . I. Y e tte r , S tep h en ,
F ir s t N a t io n a l B a n k ,
5 ,0 0 0 . 1 0 2 .5 0
M i n n ...... ......................
5 0 ,0 0 0 .1 0 2 .8 5
T r o y , A l a __________
f 2, 0 0 0 ,0 0 0 . .1 0 2 .7 8 3 F ir s t N a t i o n a l B a n k ,
L a w t o n , O k l a ______
3 0 ,0 0 0 .1 0 2 .5 0
0 0 0 ,0 0 0 .. .1 0 2 .6 3 3
!2'
F l s k & R o b t n s o n ,N .Y .! 2, 0 0 0 ,0 0 0 .1 0 2 .5 1 3 F ir s t N a t i o n a l B a n k ,
1 0 ,0 0 0 . .1 0 2 .5 0
F r u it a , C o l .................
0 0 0 , 0 0 0 . . .1 0 2 .3 9 3
5 ,0 0 0 . .1 0 2 .5 0
0 0 0 , 0 0 0 . . .1 0 2 .2 8 3 J . W . C h a m b e r s ,M in n
G . A . H a ll , O k a r c h e ,
W . M .B a ld w in ,C l e v e
O k l a ........... .....................
4 0 0 . 1 0 2 .5 0
1 0 ,0 0 0 .1 0 2 .7 6
la n d , O h i o ................. H u n te r d o n C o . N . B .,
G eo.
R.
D onovan,
F le m i n g t o n , N . J . .
6 0 .0 0 0 .
. 1 0 2 .5 0
2 0 , 0 0 0 .1 0 2 .7 5
A t l a n t a , G a ..............
H enry
C.
T a y lo r ,
S a m u el B o w m a n , W i
B l o o m f ie l d , l a _____
1 5 ,0 0 0 . . 1 0 2 .5 0
1 0 ,0 0 0 .1 0 2 .7 5
c h i t a , K a n ........... .......
F .O .C a r r , W i c h i t a ,K a n
1 0 ,0 0 0 . .1 0 2 .5 0
1 0 ,0 0 0 .. .1 0 2 .7 5
F ir s t N a t io n a l B a n k , /
C o r p u s C h r ls tl N . B . ,
1 0 ,0 0 0 .1 0 2 .5 0
S t a n t o n , N e b _____/
C o r p u s C h r ls t l, T e x .
2 5 .0 0 0 .
. 1 0 2 .6 0
G e o . L o jn n I t 7 ,C le v .,0 .
1 0 , 0 0 0 - .1 0 2 .7 5
F ir s t N a t i o n a l B a n k ,
N a t. B a n k o f B a tcsA n a h e im , C a l ...........
3 7 ,5 0 0 .1 0 2 .5 0
5 0 , 0 0 0 . .1 0 2 . 7 5
v ll le , A r k . ........... —
F ir s t N a t i o n a l B a n k ,
J . T . W c t t a c k , C o f fe y 1 2 .5 0 0 ..
1 0 2 .5 0
C a r r o ll t o n , G a _____
1 0 ,0 0 0 . .1 0 2 .7 5
v ll le , K a n ................ ..
1 f
H erm an
M y ers, S a
A .lJ .L a r s o n .E g a n .S .D .
4 0 0 . .1 0 2 .7 5
v a n n a h , G a _________
1 0 0 ,0 0 0 ,. 1 0 2 . 4 6
F ir s t N a t io n a l B a n k ,
B 5e r lin N a t i o n a l B k . , f
1 0 ,0 0 0 . 1 0 2 .4 0
1 0 .0 0 0 .
. 1 0 2 .7
C h i c o , C a l................. 1 0 ,0 0 0 . .1 0 2 .3 5
B e r li n , N . I I ........... !
R o d H eld N a t . B a n k ,
1 0 ,0 0 0 . , . 1 0 2 . 3 0
l
1 0 .0 0 0 . .1 0 2 .7 5
R e d fie ld , S . D ------L . N . B lu m e , W a p a 5 .0 0 0 . .1 0 2 .7 5
r
k o n e t a . O h l o ...............
5 0 ,0 0 0 . .1 0 2 .4 0
5 .0 0 0 . .1 0 2 .6 2 5
I I . F . W e l lc o m e ,M in n . |
E . M . W a lr a t h , M i n n .
5 .0 0 0 . ,. 1 0 2 . 3 7 5
5 .0 0 0 . .1 0 2 .5 0
C . V . H o l s c I a w .M l n n . .
5 .0 0 0 . ,. 1 0 2 . 3 7 5
F ir s t N a t io n a l B a n k ,
5 .0 0 0 . . 1 0 2 .7 5
A .L .A c k e r l e y .L e o n .I a .
5 .0 0 0 . . . 1 0 2 . 3 7 5
B t a c k s t o n e , V a _____
K an sas N a t. B a n k ,
H e n r y D . T h r a ll , M in
5 .0 0 0 . . 1 0 2 .7 5
W i c h i t a , K a n .............
2 0 ,0 0 0 .. . 1 0 2 . 3 7 5
n e a p o lis , M i n n _____
J . E . f a r te r ,M o r g a n F ir s t N a t io n a l B a n k ,
2 .0 0 0 . . 1 0 2 .7 0
t o w n , I n d ________
1 0 ,0 0 0 . 1 0 2 .3 5
S t o c k p o r t , O h i o ___
J .W .F r e y ,M t .J o y ,P a .
2 ,0 0 0 .1 0 2 .3 1
P a ck e rs ’ N a t. B a n k ,
5 0 .0 0 0 . 1 0 2 .6 5
R . F e t le n b a u m , M t .
S ou th O m ah a , N e b .
J o y , P a .........................
1 ,0 0 0 — 1 0 2 .3 1
f 1 0 0 ,0 0 0 . 1 0 2 .6 4
1 0 0 ,0 0 0 . . 1 0 2 .5 2
W . W illifo r d . F la to M e r c a n t ile N a t i o n a l !
n l a . T e x . .......................
1 0 ,0 0 0 . 1 0 2 .3 0
B a n k , N e w Y o r k . I 1 0 0 ,0 0 0 . 1 0 2 .4 1
1 0 .0 0 0 . 1 0 2 .6 3
A tla s N a t. B a n k , C ln .
1 0 0 ,0 0 0 . . 1 0 2 .2 9 1
G . Q . D e a n , N . Y _____
W e s te r n M on ta n a N a t
E x ch a n g e N a t. B a n k ,
1 0 ,0 0 0 . .1 0 2 .6 2 5
B a n k , M is s o u la _____
5 0 ,0 0 0 1 0 2 .2 7 7 8
L e o n , l a ____________
N a t . C i t y B k ., J . P . l
W . A . D u r s t, M l n n c 5 ,0 0 0 . 1 0 2 .6 2 5
M o r g a n & C o . , & 1 1 0 ,2 4 2 ,7 6 0 1 0 2 .2 7 7 8
a p o 'l s , M in n ........... ..
1 st N a t . P .v .N .Y J
F ir s t N a t io n a l B a n k ,
1 0 ,0 0 0 . . 1 0 2 .6 2 5
B l a c k s t o n e , V a -------
11:
2 5 .0 0 0 .
7 .5 0 0 ..1 0 3 .2 5
1 5 5 8
THE CHRONICLE
[V O L
LXXXVM .
B o n d P r o p o s a l s a n d N e g o t i a t i o n s this week
have been as fo llo w s:
? ot. exceedinS 5% interest. The vote was 74 to 43.
Maturity part yearly beginning 1913.
Beverly, Mass.—Temporary Loan.—This city recently
Agawam (P. 0. Feeding Hills), Mass.—Bond Offering.—
Proposals will be received until 3:30 p. m. Dec. 18 by J. W. borrowed 850,000 for 4 months from Lorin , Tolman &
Hastings, Town Treasurer, for 84,000 4% registered water- 1908Per ° f ®°ston at 3.37% discount. Loan is dated Dec. 7
system bonds. Denomination 81,000. Date Jan. 1 1908.
Interest semi-annual. Maturity 81,000 yearly on Jan. 1
Bowie County (P. O. Boston), Tex.—Bonds Voted.—On
from 1922 to 1925 inclusive. Bonds are exempt from taxa
,2 4 *he $25?.000 4% 10-40-year (optional) road and
tion in Massachusetts. Certified check for 8200, payable bridge bonds mentioned m V. 87, p. 1040, were authorized
to the Town Treasurer, is required.
he b ° n d 3
beoffored in FcbruAlamance County (P. O. Graham), N. 0.—Bond Sale.—On ary or MaTch 1909 '
Dec. 7 the 8200,000 5% 50-year coupon road-macadamizing
Branchville, Sussex County, N. J.—Bond Election.—
bonds described in V. 87, p. 1189, were awarded to Thomas An. tin inn W1 ! be bed 4)0C' 15 to determine whether or
J. Bolger & Co. and Farson, Son & Co., both of Chicago, at not 830,000 water-supply bonds shall be issued.
110.13 and accrued interest—a basis of about 4.49%. The
Brawley, Cal.—Bond Election Proposed.—Local papers
bids received were as follows:
report that steps have been taken in regard to holding an
T .
J . B o l g e r & C o .,1 C h i c a g o - $ 2 2 0 , 2 6 0 | S . A . K e a n . C h i c a g o . . .
< zS210 2 0 0 election to vote on the question of issuing 850,000 bonds
F a r s o n ,S o n & C o _ /
A . B . L e a c h & C o ., C h ic a g o
2 1 0 ,1 5 4
for the construction of water-worksand the purchase of fire
S e a s o n g o o d & M a y e r , C i n e . . 2 1 8 ,0 0 0 ] J o h n N u v e e n & C o ., C h ic a g o 2 0 9 5 2 0
E . H . R o l l I n s & S o n s , B o s t o n . 2 1 4 , 3 5 4 1C o f f i n & C r a w f o r d , C h i c a g o a 2 0 9 5 2 0
fighting apparatus.
R o b l n s o n - H u m p h r e y C o . , A t 1 2 1 3 ,4 2 5 1 A . J . H o o d & C o ., D e t r o i t . I a 2 0 8 1 0 0
W e ll, R o t h & C o ., C ln c ln —
2 1 2 , 2 0 0 O t i s & H o u g h , C l e v e l a n d ____a 2 0 5 , 8 1 0
Bristol County (P. O. Taunton), Mass.—Note Offering.—
M a s o n ,L e w ls & C o ., C h i c a g o . 2 1 2 ,0 9 5 ] C o m m e r c ia l I n v e s t m e n t C o •
Iroposals will be received until 10:30 a. m. Dec. 22 by
P r o v id e n t S a v in g s B a n k &
D u lu t h
T r u s t C o . . C i n c i n n a t i _____ 2 1 1 , 6 0 0 |
.............................................0 2 0 4 , 7 5 0
f
J ^ ok , Clerk Board of County Commissioners,
fo/ ™ ’00° 4% bndg? notes* Authority Chapter 366, Acts
a B id n o t a c c o m p a n ie d b y th e r e q u ir e d c e r tifie d c h e c k .
of
1908.
Denomination
820,000. Date Dec. 24 1908 In
Alliance, Ohio.—Bond Sale.—The following bids were terest semi-annual. Maturity
Dec. 24 1913.
received for 82,850 5% and 81,500 4 ^ % (city’s portion)
Britton, Marshall County, So. Dak.—Bond Sale —This
sanitary-sewer bonds offered on Dec. 7:
city on Nov. 30 sold 85,000 5% 10-20-year (optional) fund
$ 2 ,8 5 0
$ 1 ,5 0 0
ing bonds to the Marshall County Bank in Britton at 101.10
S e c u r it y S a v in g s B a n k & T r u s t C o ., T o l e d o . . .
$ 2 ,8 5 0 5 0
S ^ °?0 8 -5O
—a basis of about 3.86% to the optional date and about
H a y d e n . M i l l e r & C o . . C l e v e l a n d ....................................I l l 2 , 8 5 1 7 5
00
4.914% to full maturity. Denomination 8500. Date
Arapahoe, Furnas County, Neb.—Bond Election Post Jan. 1 1909. Interest semi-annual.
poned.—An election which was to have been held Dec. 4 to
Brown County (P. O. Green Bay), Wis.—Bond Sale.—
vote on propositions to issue 824,000 water and 86,000
An issue of 840,000 4 ^ % 10-year (average) court-house
light bonds has been postponed indefinitely.
was disposed of on Nov. 30 to Woodin, McNear &
Asbury Park, Monmouth County, N. J.—Bonds Pro bonds
Moore of Chicago at 103.3375—a basis of about 4.09%.
posed.—-According to reports there is talk of issuing 8150,000 The
other bids follow:
bonds for a swimming pool and for the extension of the
B m " C h I c . - l ° 3 . 6 2 | M a . s o n , L e w i s & C o . , C h i c a g o . 1 0 3 . 11
board walk.
M c S ? t I e v N &Rka V b r «•’ nhIC-,1« ? ,?i?Ljfuellogrg E a t - B k - Green B a y.1 0 3 .1 0
Auglaize County (P. O. Wapakoneta), Ohio.—Bond Offer M C L a rtney N .B k ., Green B a y . 103.14 [Thos. J. B olger &Co., C h ic___103.05
ing.—Proposals will be received until 12 m. Dec. 18 by palWn ChIcaCgoSldered &S 16 WaS made on condltI°n that the Interest be
W. H. Meyer, County Auditor, for 870,000 5% infirmaryDenomination 81,000. Date July 1 1908. Interest
re-building bonds. Authority Section 871-1, Revised
Statutes. Denomination 81,000. Date Jan. 1 1909. In semi-annually in Green Bay.
terest semi-annual. Maturity 85,000 yearly on Sept. 1 from
Cafifornia, (State ot)—Bond Offering.—W. R. Williams,
1910 to 1923 inclusive. A cash deposit of 8500 is required.
otate Treasurer, will offer at public auction at 10 a. m. Jan. 2
Aurora, St. Louis County, Minn.—Corrected Debt State 1909 at his office in Sacramento, 8500,000 4% San Francisco
ment.—We are advised that the maturity of the 810,000 sea-wall bonds. These securities are part of the authorized
water and 820,000 sewer bonds issued by this village and issue of 82,000,000 bonds, of which 8250,000 were sold on
given under the head of “ Aurora” in the last issue of our March 8 1906 and 8500,000 on July 2 1908. Denomination
State and City Supplement is inccorrect. We print here 81,000. Date Jan. 2 1905. Maturity Jan. 2 1924, subject
with a new statement of the village prepared from facts to call after Jan. 2 1914.
Carter County (Okla.) School Districts.—Bond Sales.—
recently furnished us:
The following 6 % bonds were recently awarded to the Okla
LOANS—
W h en D u e.
T O T A L B O N D . D E B T ..
$ 4 5 ,0 0 0
Sewer and Water Bonds.
A ssessed v a lu e , 1 9 0 7 ..
1 745 4*4
homa Bond & Trust Co. of Guthrie:
f$7,500----- Apr .1 1913
jk o
•■ : - - - - - 5 , 0 0 0 , 0 0 0
A-O \ 7,500----- Apr. 1 1918 Population in 1908'(est')'.'---’
. - 1,800
7,500----- Apr. 1 1923
l 7,500----- Apr. 1 1928
INTEREST on the water and sewer bonds Is payable at the First National
5s *08
fi& Q k
I n O u lC A s O .
Bainbridge, Chenango County, N. Y.—Certificate Sale.—
On Dec. 1 this village sold 82,000 10-year certificates of in
debtedness issued for street-improvements, to Julien Scott
of Bainbridge at par, 81,600 as 5s and 8400 as 4Ks. De
nomination 8200. Date Dec. 5 1908. Interest annual.
Baltimore, Md.—Sales of Sewer Stock.—We are advised
that the 8500,000 3J^% sewerage stock sold recently (V 87
p. 1491) is part of the 810,000,000 stock authorized by the
voters on May 2 1905, from which sales are made from time
to time as the money is needed by the Sewerage Commission
The stock was purcha? d 8300,000 on Nov. 24 and 8200,000
on Dec. 5 by James A. Hutchinson of Boston. The city
subsequently sold an additional 81,000,000 at 92 and interest
to a syndicate headed by Rhoades & Co. Under the terms
of the sale, 8250,000 is to be delivered and paid for in a few
days, 8250,000 to be paid for and delivered before March 1
and the remaining 8500,000 is to be delivered and paid for
on or before July 1 1909. The stock matures Oct. 1 1980.
Interest April and October.
Bartlett, Williamson County, Tex.—Bonds Registered.—
The State Comptroller on Dec. 1 registered 84,000 4J^%
15-40-year (optional) school-house bonds.
Bear Creek Township (P. O. Taylorville), Christian
County, 111.—Bonds Defeated.—An election held Nov. 28
esuited in the defeat of a proposition to issue 82,000 bridge
bonds.
Beaufort, No. Caro.—Bond Sale.—On Dec.l Thomas J.
Bolger & Co. of Chicago purchased at par the 820,000 5 %
3G-ycar coupon electric-light and drainage bonds described
in V. 87, p. 1189. Following are the bids:
T . J. Bolger & Co., C hic------$20,0001 John Nuveen & Co., Chicago-$i9.300
S. A .
Kean. Chicago............... 20,0001
’
$3,300 School District No. 10 bonds at 1 0 1 . Denomination $500.except
one bond of $300. Date Nov. 11 1908. Maturity on Jan 1 as
follows: $500 In each of the years 1913,1917 and 1921 and 1 0 ?R and
$1,300 In 1928. Assessed valuation $84,832
d 1925 aDd
8.000 School District No. 21 bonds at 102. Date Nov 0 1908
Maturltv
July 1 1928. Assessed valuation $412,710
Maturity
1.500 School District No. 25 bonds at 101. Date Sent ? ion«
turlty July 1 1928. Assessed valuation $88,889 P
M
2 .0 0 0
S c h o o l D is tr ic t N o .
tu r lty J u ly 1 1 9 2 8 .
31
bon ds a t 101.
D a t e Auer
A s se sse d v a lu a tio n $ 1 1 5 6 4 3 '
10
1908
7.500 School District No. 45 bonds at 102. D a t e N n v ’ n urns
turlty July 1 1928. Assessed valuation $238 48 3 .'
5.000 School District No. 43 bonds at 102. Date Nov 14 1908
turlty July 1 1928
Assessed valuation $255,188:
'
vr„
\fn
a'
Interest is payable Jan. 1 and July 1 at the fiscal agency
in New York City. The above districts have no other
outstanding bonds.
Carthage, Jasper County, Mo.—Litigation.—We are
informed that the city officials are testing the validity of the
8220,000 5% gold coupon water-works bonds mentioned in
V. 87, p. 1190. The case is now in the State Supreme Court.
Central, Pickens County, So. Caro.—Bond Offering.—
According to reports, proposals will be received for 810,000
school-building bonds.
Chattanooga, Hamilton County, Tenn.—Bonds to be
Offered Shortly.—We are informed under date of Dec. 3 that
the $900,000 4 ^ % 30-year coupon water-works bonds
voted on June 18 1907 (see State & City Supplement of Nov.
28 1908) will probably be placed on the market within the
next three months. Interest semi-annual.
Chattooga County (P. O. Summerville), Ga.—Bond
Election.—An election will be held Dec. 19 to vote on a propo
sition to issue $55,000 5% court-house-construction bonds
maturing part yearly for thirty years.
Chester, Delaware County, Pa.—Bids.—The three issues
of 4% 10-30-year (optional) coupon bonds aggregating $70,
000, awarded on Dec. 2 to Edward V. Kane & Co. of Phila
delphia at 101.587 (V. 87, p. 1492), attracted the following
list of bids:
Edw.
V.
Kane
Phlla--101.587|O’Connor
Kahler.
N.
Y
I - --I.V100.87
D
annIn
rffn
nP
al&froCo.,
*. LP
/*
1H
I Id1) BIW» a ik___
a C&O JXUlUCr,
. . . ’ .IV
.. . .•
«V
n/1. WO.KI
Pennington,
Colket
& Co___
101.392
e r , A y ll n g & C o ., P h l l a - . 1 0 0 .8 5 5
VV. Halsey & Co.. Phlla-.10I.27 B l o d g e t , M e r r i t t & C o . , B o s t . l 0 0 . 8 3
Beechview—Pittsburgh, Pa.—Election on Annexation._ N. F.
Bachman & Co., Phlla.101.20 N e w b u r g e r ,
H en d erson
&
On Dec. 15 the voters of Beechview will determine whether H.
E H. Rollins &Sons, Boston 101.08
L o e b , P h i l a d e l p h i a ............... ,
100,I°
N . W .H a r r is &C o ., P h lla . . . 1 0 0 601
or not that borough is to become a part of Greater Pitts Rudolph Kleybolte & Co.,
Inc., Philadelphia________101.07
C. E . D en ison &C o .. C l e v e .. 100.57
burgh on Jan. 1 1909.
Montgomery. Clothler&Tyler 101.045 H eyle &C o ., P h ila d e lp h ia - - 100.527
c a i e i iNat
i a u . Bank,
u a u K , Chester.101.00
u n e ste i .lU l.u u
K O U n tZ C B r o s .,
., N
N eew
w Y
l uorrKk ------l
q o3
ICountzo
- - .1 u0 u0 ..4
Bergen, Genesee County, N. Y .—Bonds Voted.—On Dec. 8 Chester
A bid was also received from Charles T. Harrison Jr. &
this village voted to issue 8 6 ,0 0 0 electric-light-plant bonds Co. of Philadelphia.
D ec . 12 iuu8. |
THE CHRONICLE
1 5 5 9
“ Town of Fayette,” is required. Bonded debt, not includ
ing this issue, $15,000. Floating debt (additional), $2,000.
Assessed valuation, $000,000.
Florence, Fremont County, Colo.—Bond Sale.—An issue
of $85,000 5 % 1 0 -2 0 -year (optional) refunding bonds was
111 T r u s t &S a v . B a n k a n d H a r r i s T r u s t &S a v . B a n k ( 3 . 8 7 3 ) - - . 1 0 1 . 0 8 disposed of at par and accrued interest during the month of
N . W . H a ls e y & C o ., M c D o n a ld , M c C o y & C o ., F a r w e 1 T ru s t C o .,)
November to the Harris Trust & Savings Bank of Chicago.
-(1 0 1 .0 2
W m
A
H e a d & C o . , H i b e r n i a n B a n k i n g A s s o c i a t i o n -------L e e , H lg g in s o n & C o ., N a tio n a l C it y B a n k o ! C h ic a g o , N o r th e r n )
Denomination $1,000. Date Jan. 1 1909. Interest semi
T r u s t C o ., S ta te B a n k o l C h ic a g o , A . B . L e a c h & C o ., A m e r l-j
annual.
c a n T r u s t & S a v i n g s B a n k a n d L . H . R o l l i n s & S p n s - ...................... i n n ' r 7 ?
M e r c h a n t s ’ L o a n & T r u s t C o . , F i r s t T r u s t & S a v i n g s B a n k . ....................J 2 H Z 2
Forest County (P. O. Crandon), Wis.—Bond Sale.—The
F a r s o n , S o n & C o . , T . J . B o l g c r & C o ............................................- ......................... 1 0 0 . 5 2
Ghickasha, Grady County, Okla.—Bond Sale.—An issue Tlios. J. Bolger Co. of Chicago has bought $55,000 0% coupon
of $90,000 5 % 2 0 -year school bonds has been disposed of at court-house bonds. Denomination $1,000. Date Oct. 1
private sale to Woodin, McNear & Moore of Chicago. De 1908. Interest annually in Chicago. Maturity $5,000
nomination $1,000. Date Oct. 1 1908. Interest semi yearly on April 1 from 1910 to 1920 inclusive. Total debt,
this issue. Assessed valuation $5,737,835. Real valua
annually in New York City.
Clinton, Worcester County, Mass.—Bond Offering.— tion (estimated), $8 ,0 0 0 ,0 0 0 .
Fresno, Cal.—Bond Sale.—Reports state that $50,000
Proposals will be received until 10:30 a. m. Dec. 17 by
Chas. E. Shaw, Town Treasurer, for $120,000 4% coupon bonds were recently awarded to N. W. Harris & Co. of Los
town-hall-construction bonds. Authority election held Angeles for $51,579 79—the price thus being 103.159.
Glendive, Dawson County, Mont.—Bond Sale.—The $15,
May 11 1908. Denomination $1,000. Date Jan. 1 1909.
Interest semi-annually at the First National Bank in Clinton. 000 0% coupon water-extension bonds described in V. 87,
Maturity $0,000 yearly on Jan. 1 from 1910 to 1929 inclusive. p. 1373, were sold on Dec. 7 to Woodin, McNear & Moore
Bonds are free from all taxes. Certified check for 1% of the of Chicago for $15,237.50 (101.583) and accrued interest.
amount, payable to the Town of Clinton, is required. Deliv
Grady County School District No. 33, Okla.—Bond Sale.—
ery Jan. 1 1909. The opinion of Messrs. Storey, Thorndyke An issue of $1,000 7% school-house bonds has been awarded
Palmer & Thayer of Boston as to the legality of the issue to the Oklahoma Bond & Trust Co. of Guthrie at 101.
will be furnished to the successful bidder.
Date Oct. 19 1908. Interest Jan. 1 and July 1 at the fiscal
Coitsville Township (P. O. Station A., Youngstown), agency in New York. Maturity July 1 1928. lotal debt
Mahoning County, Ohio.—Bond Sale.—On Dec. 7, C<. H. this issue. Assessed valuation $28,002.
Kennedy, representing the Commercial National Bank of
Green Bay, Brown County, Wis.—Bond Offering.—Pro
Youngstown was awarded the $20,000 4)/£% coupon road- posals will be received until 10 a. m. Dec. 12 by W. L. Kerr,
improvement bonds described in V. 87, p. 1372, at 102.50 City Clerk, for $150,000 4y2% coupon bridge-building bonds
Maturity $10,000 on July 1 in each of the years 1932 and voted on Sept. 1. Authority Section 925-133 and Section
1933. A bid of $20,475 was also received from Bruce 943 of Revised Statutes. Denomination $1,000. Date
Campbell representing the Struthcrs Bank of Struthers July 1 1908. Interest semi-annually at such bank as
Craig County School District No. 43, Okl.—■Bond Sale.— Finance Committee shall designate. Maturity on Jan. 1 as
This district has disposed of $3,000 0 % school bonds to follows: $5,000 yearly from 1915 to 1918 inclusive, $10,000
the Oklahoma Bond & Trust Co. of Guthrie at 101. Date yearly from 1919 to 1922 inclusive, $15,000 yearly from
Nov. 18 1908. Interest Jan. 1 and July l at the fiscal agency 1923 to 1928 inclusive. Certified check for $500 on some
in New York City. Maturity Jan. 1 1919. Total debt this national bank in Green Bay must accompany bid. Pur
chaser to furnish blank bonds. Official circular states that
issue. Assessed valuation $299,002.
Detroit, Mich.—Bond Offering.—Proposals will be received the city has never defaulted in the payment of any obligation
until 11 a. m. Dec. 19 by Frank E. Doremus, City Comp and that there has been no litigation and none is now pend
troller, for $300,000 3J^% coupon (with privilege of regis ing or threatened affecting this issue of bonds. The city
tration) public school bonds. Denomination $1,000. Date will furnish at its own expense the opinion of Shope, Zane
Jan. 2 1909. Interest semi-annually at the current official Busby & Weber, bond attorneys, of Chicago, approving said
bank of the City of Detroit in the City of New York, or at bond issue.
Guayandotte, Cabel County, W, Va.—Bond Sale.—Re
the office of the City Treasurer. Maturity thirty years.
Bonds are exempt from all taxation in the State ot Michigan. ports state that the $2G,000 5% 10-year coupon publicCertified check (or cash) for 2% of bid, drawn on any na improvement bonds for which bids were asked until Oct. 19
tional bank in the United States or a State bank in the City (V. 87, p. 1041) have been awarded to Weil, Roth & Co. of
of Detroit, is required. Purchaser to pay accrued interest.
Cincinnati at 1 0 2 and accrued interest.
Bond Sale.—The Sinking Fund has purchased at par the
Hartwell (P. O. Cincinnati), Ohio.—Bond Sale.—On
$75,000 bonds—the unsold portion of the issue of $150,000 Dec. 7 this village sold the $35,000 4% 25-year coupon sewer
3 ^2% 30-year coupon water-works construction bonds bonds described in last week’s issue. The Western German
mentioned in V. 87, p. 1190.
Bank of Cincinnatwas the successful bidder, paying 102.29
Douglas, Ga.—Bond Sale.—The $20,000 school and $15, a basis of about 3.858%.
000 light and water 5% 30-year gold bonds, for which pro
Haverstraw, N. Y.—Bond Sale.—The $70,000 coupon
posals were asked until Nov. 20 (V. 87, p. 1314), have been sewer bonds offered on Nov. 25 and described in V. 87, p.
awarded to the Robinson-IIumphrey Co. of Savannah for 1373, w e r e awarded to the Rudolph Kleyboltc Co., Inc., o
$35,100 (100.458) and accrued interest.
New York City at par for 4.12s. Maturity $2,500 yearly
East Chicago, Lake County, Ind.—Bond Sale.—This city on Sept. 1 from 1910 to 1937 inclusive.
on Dec. 5 disposed of $40,000 10-19-year (serial) school
Hays City, Ellis County, Kan.—Bond Offering.—Pro
bonds to N. W. Halsey & Co. of Chicago at 107.78 for 5s— posals will be received until 8 p. m. Dec. 17 (postponed from
a basis of about 4.275%. The following bids were received Dec. 1) by C. A. Harkness, City Clerk, for $18,000 5% water
for 4J^s:
bonds. Authority Chapter 101, Laws of 1905. Denomi
N W . H a ls e y & C o ., C h ic a g o
1 0 3 0 71 F i r s t N a t . B a n k , E . C h i c a g o . 1 0 1 . 0 0
nation $1,000. Date Jan. 2 1909. Interest Jan. 1 and
J T . E llio t & S o n s , I n d ’ p o l ls . 1 0 2 .5 0
B r e e d & H a r r is o n , C l n . . . 1 0 1 .0 6 6
July 1 at the fiscal agency of Kansas in New York City.
E.
M . C a m p b e ll & C o ., I n d . 1 0 2 .2 0 | G . M . S e w a r d & C o ., C h i c . . 1 0 0 .2 7 5
Several bids were also received for 5s. Date Jan. 1 1909 Maturity Jan. 2 1929. Certified check for $200, payable
Interest semi-annually at the office of N. W. Halsey & Co to the City Treasurer, is required. Delivery Jan. 2 1909.
Irondequoit School District (P. O. Irondequoit), Monroe
of Chicago.
East Lansing, Ingham County, Mich.—Price Paid for County, N. Y —Bond Sale.—On Dec. 1 the Mechanics’
Bonds.—The City National Bank of Lansing paid par and Bank of Rochester was awarded $10,000 5% 1- 1- 1 0 -year
accrued interest for the $8,752 water-works and the $1,248 (serial) building bonds at 100.033. Denomination $1,000.
sewer and drain 4 y2°/o bonds bought (V. 87, p. 1492) on Date Dec. 1 1908. Interest annual.
Irvington (P. O. Newark), Essex County, N. J.—Bond
Oct. 20. Denominations $1,000, $1,248 and $752. Date
Nov. 20 1908. Interest March 1. Maturity on March 1 Offering.—Proposals wall be received until 8 p. m. Dec. 15
as follows: $1,248 in 1919, $752 in 1920 and $1,000 yearly by M. Stockman, Town Clerk, for $55,000 4J^% coupon or
from 1921 to 1928 inclusive.
registered (at option of holder) sewer bonds. Denomination
Elmore County (P. O. Mountain Home), Idaho.—Bond
Sale.—During the month of' November C. II. Coffin of $1,000. Interest semi-annually at the Merchants’ National
Chicago was awarded $42,000 5%% refunding bonds at 102. Bank in Newark. Maturity thirty years.
Denomination $1,000. Date Jan. 1 1909. Interest semi
The official notice of this bond offering will be found among
annual.
the advertisements elsewhere in this Department.
Eureka, Humboldt County, Cal.—Bond Sale.—An issue
Johnston County (Okla.) School Districts.—Bond Sale.—
of $15,000 bonds has been awarded, it is stated, to the State The Oklahoma Bond & Trust Co. of Guthrie recently paid
Board of Examiners for $15,010—the price thus being 101 for the following 0 % school-house bonds:
Chicago Sanitary District, 111.—Bond Sale.—The highest
bid received on Dec. 9 for the $1,000,000 4% lOJ^-ycar
(average) bonds described in V. 87, p. 1313, was submitted
by the Harris Trust & Savings Bank and the Illinois lrust
&Savings Bank of Chicago. All of the offers are given below;
1 0 0 .0 0 0 .
$1,000 School District No. 23 bonds.dated Oct. 8 1908.
Assessed
v a lu a
tion 588,808.
„
.
.
,
Fayette, Jefferson County, Miss.—Bond Offering.—Pro
School District No. 25 bonds,dated Sept. 10 1908. Assessed v a l u a
posals will be received until 2.30 p. m. Dec. 15 by the Board 2,000 tion
565,500.
_
of Mayor and Aldermen, N. 11. Allen, Clerk, for $1,800 0%
Interest Jan. 1 and July 1 at the fiscal agency in New
coupon electric-light and water bonds. Denomination $100. York City. Maturity July 1 1928. The above districts
Date day of delivery. Interest Feb. 1 at the Jefferson County have no other debt.
Bank in Fayette. Maturity $900 on Feb. 1 in each of the
Latonia, Ky.—Bond Sale.—This city on Dec. 8 sold $9,000
years 1912 and 1915, subject to call after three years. Certi
fied check for 1 0 % of bonds bid for, made payable to the Huntington Avenue and $1,700 Tibbatts Street 0% 5-10-
1 5 6 0
THE CHRONICLE
year (optional) improvement bonds to Joe Carlev at mr
Denomination $100. Date Nov. 1 1908.
^
P '
Latrobe School District (P. O. Latrobe), p a.—Bond Offer
ing.—Proposals will be received until 8 p. m. Dec 18 bv
F. C. Riddile, Secretary School Board, for $34,500 4 U%
coupon funding bonds. Denomination $500. Date Jan 1
1909. Interest semi-annually in Latrobe at the Latrobe
Co. Maturity $1,500 yearly on Jan. 1 from 1910 to
1932 inclusive. Bonds are free from all taxation. Certified
check for $1 ,0 0 0 , payable to "Latrobe Borough School Dis
trict,” is required.
^i/o/Xiu?t0n’ Ky - ~ /ionf Sale.—On Dec. 7 the $25,000
4 ^ % 40-year sewer bonds described in V. 87, p 1493 were
awarded to Charles A Peeling & Co. of New York City at
108.44—a basis of about 4.07%.
J
The following bids were received:
C.
A . P e e lin g & C o ., N . Y .$ 2 7 ,1 1 0 00
W e s te r n -G e rm a n B a n k ,
H a r r is T r u s t
A
S a v in g s
C i n c i n n a t i -------------------?5 o a t
2 6 ,8 7 5 0 0
B a n k , C h i c a g o ...................
AL e a c h A C o ., B o s to n 2 s !o 4 4
J.
P . S h a w , A g t . o f L e x ’ t o n 2 6 ,8 4 1 0 0 M a c D o n a ld , M c C o y A C o
O ’ C o n n o r & K a h le r , N . Y . 2 6 ,7 5 0 0 0
E . H . R o l li n s A S o n s , B o s . 2 6 ,6 4 1 5 0
P r “ ! S / B V n k 4 T r „ , l 2 5 -7 0 0
N . W . H a ls e v & C o ., C h i c . 2 6 ,6 2 5 0 0
E . M . F a r n s w o r t h & C o .,
B o s to n
2 6 ,4 5 5 0 0
H I n c k s B r o s . & C o ., B * g e p ’ t 2 5 ,5 0 2
S e a s o n g o o d A M a y e r , C l n . 2 6 ,3 3 4 00 T o w n s e n d , S c o t t & C o .,
U n io n S a v in g s B a n k & T r .
B a l t i m o r e ----------------------25 4 as
C o . . C i n c i n n a t i ..................... 2 6 . 2 5 5 0 0
W e l l . R o t h & C o . . C l n c l n l 2 5 .* 4 5 0
C .| E . D e n is o n A C o . , C l e v . $ 2 6 , l 3 2 7 5
J. S. B a ch e & C o
N . Y _ $ 1 2 1 ,0 1 3 83
O ’C o n n o r A K a h l e r , N . Y . $ 1 1 9 ,0 5 6
D a n 1 A .M o r a n A C o . , N . Y 1 2 0 ,9 1 0 0 0
W . N . C o le r & C o ., N . Y . 1 1 8 ,5 1 4
K o u n t z e B r o s ., N . Y . . . 1 2 0 ,4 6 4 5 0
A . B . L e a c h A C o ., N . Y . 1 1 8 ,4 4 0
B lo d g e t , M e r r itt A C o .,
E m p ir e T r u s t C o ., N . Y . 1 1 7 ,8 9 5
N ew Y o r k .---------------- 1 1 9 . 7 6 5 7 5 N . W . H a r r i s & C o . , N . Y . 1 1 7 , 4 7 1
A d a m s & C o . . N . Y -------- 1 1 9 , 5 1 7 0 0
------- - - F a r s o n , S o n A ‘ C o . , N . Y . 1 1 7 . 1 7 5
CMumbla T^rustc'o’ % Y '^ f n r?®
C,oler * Co” N .Y .$125,315 50
Bond A G o d w in ? N * Y l \\*&\\Tl
125 2 5 0 on
3onnor &K a h l e r , N . Y - 125,486 251Adams & Co., N . Y _____125,247 00
Niagara Falls, N. Y.—Bond Sale.—On Dec. 4 $70,500
4% gold registered sewer bonds, Series “ C” offered on
that day were awarded to Farson, Son & Co. of New York
V bmo? 1 t? n2 8 •and accrued interest—a basis of about
3.883%. hollowing are the bids:
00
F a r s o n , S o n A C o ......................a l O l
A . B . L e a c h & C o ......................a l 0 1
J o h n D . E v e r l t t A C o ______a l 0 L
P a r k i n s o n A B u r r . . ................ a l 0 L
50
7^
00
Mamaroneck, Westchester County, N. Y —Rnnri
On Dec. 9 E. H. Rollins & Sons of Boston were awarded
$10,000 5-24-year (serial) road and bridge bonds at 100 43
for 4s. Denomination $500. Date Jan. 1 1909 Interest
semi-annual.
Marshfield, Ore.—Bonds Not Sold.—No bids were re
dly.edS?eNVV'87l p! *j‘ °3 ? 1 C ' 0 2 4 6% bl» ds offered on that
Memphis, Tenn.—Bids Rejected.—All bids received nn
Dec. 10 for the $1,009,500 4% coupon (with privilege of
registration) refunding bonds described in V. 87, p 1 4 3 7
were rejected.
1'
’
Mercer County (P. O. Trenton), N. J.—Bond Sale—
Reports state that on Dec. 8 Howard K. Stokes of New
York City was awarded $55,800 road and $15,200 bridge
4% 30-year bonds at par.
°
Milam County (P. O. Cameron), Tex—Bond Sale.—The
$53,072 50 4% 40-year bridge and refunding bonds registered
by the State Comptroller on Sept. 1 (V. 87, p. 1192) have
been sold to the MilamCounty Permanent School Fund at par
Minneapolis, Minn.—Bond Sale.—Dispatches report that
on Dec. 10 the $67,000 4% 30-year permanent-improvementfund bonds described in V. 87, p. 1437, were awarded to the
Wells & Dickey Co. of Minneapolis at 102.84—a basis of about
3.849 .
i Morrow County (P. O. Mt. Gilead), Ohio.—Bond Sale.—
The three issues of 4j^% coupon road bonds aggregating
$24,762 56, described in V. 87, p. 1438, were sold on Dec. 4
to the National Bank of Morrow County in Mt. Gilead at
102.055 and accrued interest. Following is a list of the
bidders and the premiums offered by the same:
a and
a ccru ed
628
-4 l
074
053
L a n g l e y A L a w r e n c e _______ a l O O . 9 4 3 2
h e r r l s A W h i t e -----------------------a l 0 0 . 8 3
W m . A . R e a d A C o ................1 0 0 . 0 6
In terest.
The above bidders are all from New York City.
Niles, Trumbull County, Ohio.—Bond Sale.—The $8,000
5% coupon Park Avenue extension bonds described in
V. 87, p 1493, were awarded on Dec. 8 to Seasongood &
Mayer of Cincinnati at 106.888. Maturity part on Oct 1
in each of the years 1915, 1916, 1918 and 1919.
Norcross, Gwinnett County, Ga.—Bond Offering.—Proposa s will be received until Dec. 15 by T. E. Johnson, Mayor,
tor the $0 ,000 0 % coupon electric-light bonds voted on Nov.
12.
Denomination $1 ,0 0 0 . Date Jan. 1 1909. Interest
Hi'«ranuUa y at any Atlanta (Ga.) bank. Maturity Jan. 1
l l ! nt$9,000.
l CX?Assessed
pt from
c[ty taxesBonded debt
at rpresent,
valuation
$375,000.
Northampton, Hampshire County, Mass.—Bonds De
feated.—An election held Dec. 1 resulted in the defeat of a
proposition to issue $2 0 0 ,0 0 0 city-hall bonds.
North Arlington, Hudson County, N. J.—Bond Offering.—
I roposals will be received until 8 p. m. Dec. 16 by H. C.
Bayliss, Borough Clerk, for $25,000 4 ^ % coupon or regis
tered water bonds. Denomination to suit purchaser. Ma
turity twenty-five years. Certified check for $250 is re
quired.
Orchard Mesa Irrigation District (P. O. Grand Junction),
Colo. Bond Sale.—Denver papers state that the $840,000
and the $60,000 bonds offered on Nov. 30 and described in
V. 87, p. 1315 have been taken by the Orchard Construction
Co. in payment for work to be performed. The Denver
News of Dec. 1 contains the following concerning an
injunction granted by the District Court restraining the
construction company from disposing of the bonds pending
settlement of the suit started by T. C. and George S. Henry
S im u lt a n e o u s ly
T
A
w ith
t h is
Cs £ » ? > i 2
a n n ou n cem en t
,lnJu, n c ,t l 0 "
papers
w ere
served
on
th e
'w M c h w a s g r a n t e d S a t u r d a y ? o
"S & y sM
“V0‘ “°own" >h,‘’01
to °the a<j0 vernmen? K
f f L
F t' " r a n s f S m d
It Is the n h W ?!J A ? for '1 rl? M of VV;W over public land,
narent comn?nv Sn*Jhie.H»i?rys ln ,th.elr sult t0 obtain the return to the
thejJ are Interested, of the water rights alleged
U .e
d c a l bw | t h ™ f n t e U o r 1 D cpCa « m e n t d ' a ' S°
t 0 SCCUrC “
c a n c c lla tl0 U
ot
Patoka Township, Dubois County, Ind.—Bond Sale.—According to reports, the Edgar Trayler Construction Co. of
Jasper has taken 83,600 rock-road bonds at par.
Philadelphia, Pa.—Bond Offering.—Reports state that
proposals will be received until 12 m. Jan. 11 1909 by John
E. lieyburn, Mayor, for $1,500,000 4% 30-ycar bonds. In
terest semi-annual. Certified check for 5% is required.
Pitman School District (P. O. Pitman Grove) N J _
Bond Sale.—On Dec. 8 the $24,000 5% 3-26-year (serial)
coupon school bonds offered on that day were awardnd tn
W. N Color & Co. of New York City for 824,016 50-tllS
price thus being 100.068. These securities were offered
without success as 4 j4js on Nov. 15.
Portland, Ore.—Bonds /hoarded in Part.—Of an issue of
$267,000 bonds offered on Nov. 30 $32,000 were disposed of
at 1 0 2 or better.
Redfield, Spink County, S. D.—Bond Sale.—The $18,000
2 0 -year sewer bonds ofiered on Dec. 7 (V. 87 p. 1375) were
awarded to Ihos. J. Bolger & Co. of Chicago and the Union
Investment Co. of Minneapolis for $18,300 (1 0 1 .6 6 6 ) for
5s a basis of about 4.89%. Bids were also received from
N a t. B k . o f M orrow C o u n ty ,
C e n tr a l T r u s t A S a fe D e p o s it
the following: S. A. Kean of Chicago, the Minneapolis
M t . G i l e a d - . . -----------------$ 5 0 9 1 0 C o . , C i n c i n n a t i ...........................$ 3 1 1 8 6
D a v i e s - B e r t r a m C o . , C l n _____ 4 3 2 0 0 S e a s o n g o o d A M a y e r , C l n . . . 2 5 4 7 0
Loan & trust Co. of Minneapolis and the Harris Trust &
C l e v e l a n d -------- 3 7 3 0 0 W e l l , R o t h A C o . . C i n c i n n a t i . 2 5 0 0 0
havings Bank of Chicago. Denomination $500 or $1 ,0 0 0 .
M t .G ile a d M a t. B k .. M t. G ll’d 3 6 2 8 0
Date Jan. 1 1909. Interest semi-annual.
New Rochelle, N. Y .—Bond Sale.—J. S. Bache & Co. of
Richmond, Va.—Description of Bonds.—We are informed
^ e-IVrV01i
offering 112.571 were the successful bidders
on Dec. | 8 for the^$107,500 5%^'registered schooQbonds that the 4% coupon bonds awarded on Nov. 17 to Estabrook & Co. of New York and Hambleton & Co. of Baltimore
00
45
27
00
70
00
Certificate Sale —The $125,000 6 % certificates of indebted
ness oil ered on the same day were bought by the Empire
190? C° ' °f N<iW Y° rk Clty Ht 101-124- Maturity July 9
Following are the bids:
o i S S i j S S S n V . p a r 11:111 J8
x r t / c v b i i i t 'i •
L X X X V II.
«nSnn£ed
X' 87’ p’ 1493- Maturity on May 1 as follows:
$9 000 yearly from 1920 to 1930 inclusive and $8,500 in 1931.
A list of the bidders follows:
nn
00
Long Beach, Los Angeles County, Cal.—Rond Election.—
lhe amount ot 4 ^ % bonds to be voted on Dec. 15 (V. 87
p. 1374) follows: $499,000 to purchase the Long Beach’
water plant and $251,000 to purchase the Alamitos water
plant. If authorized they will mature part yearly for forty
years.
Los Angeles School District (P. O. Los Angeles), Cal._
Bond Election.—An election will be held Jan. 6 1909 to vote
on propositions to issue $480,000 bonds for high-school pur
poses and $240,000 for the use of common schools.
Louisiana (State of).—Temporary Loan.—Reports state
that the Governor has negotiated a loan of $38,000 at 2%
interest with the State’s four fiscal banks in New Orleans
Luverne, Crenshaw County, Ala.—Bond Offering.
Proposals will be received up to Dec. 15 by G. E Turner
Town Clerk, for $20,000 5% water-works bonds. Interest
semi-anunally in New York City. Maturity twenty years,
subject to call after 10 years. Certified check for $250 is
required, total bonded debt, including this issue, $30,000
Assessed valuation $600,000.
McPherson, McPherson County, Kansas .-Bond Offering.
—Proposals will be received for $65,000 4 )^% bonds for
the purchase and extension of the water-works. Denom
ination $500. Date Jan. 1 1909. Interest semi-annually at
the fiscal agency of the State of Kansas in Topeka Ma
turity thirty years, subject to call after twenty years
Nels Pearson, City Clerk.
J J
Madison County (P. O. Anderson), Ind.-Bond Offering.
G. 1 . Quick, County Ireasurer, is offering at private sale
sixteen issues of 4 ^ % coupon gravel-road bonds aggre
gating $87,560. Interest payable at the office of the’ County
[V O L .
Deo. 12 1908.J
THE CHRONICLE
1 5 6 1
at 98.50 and accrued interest (V. 87, p. 1494) answer the annually in Steubenville at the office of the Sinking Fund
Trustees. Maturity Nov. 15 1913. Certified check for
following description:
3% of bonds bid for, made payable to the City Treasurer,
$ 1 4 2 , 0 0 0 f o r t h e r e h a b i l i t a t i o n o f t h e pras p l a n t . D a t e J u l y 1 1 9 0 7 .
3 5 0 ,0 0 0 f o r a n e le c t r ic -lig h t p la n t .
D a te J a n . 1 1 908.
is required. Delivery ten days from time of award. Pur
Denomination $1,000. Interest semi-annual. Bonds ma chaser to pay accrued interest.
ture in thirty-four years.
Struthers School District (P. O. Struthers), Ohio.—Bond
St. Edwards, Neb.—Bonds Voted.—On Dec. 7 the issuance Election.—If the reports in local papers are correct, a vote
of $20,000 0% 5-20-year (optional) bonds for the purpose will be taken to-day (Dec. 1 2 ) on a proposition to issue
of building and equipping water-works was authorized by a $25,000 school-building bonds.
vote of 152 to 54. Interest annual.
Syracuse, N. Y.—Bonds Authorized.—-Local papers state
Salina, Saline County, Kans.—Bond Election Proposed.—• that an ordinance was passed on Nov. 30 providing for the
The City Clerk writes us that the question of issuing $40,000 issuance of $200,000 4% intercepting sewer bonds.
bonds for a city-hall and to purchase the water-works may
Tarentum, Allegheny County, Pa.—Litigation.—Pitts
be voted on at the next election in April 1909.
burgh papers state that Judge John D. Shafer, Allegheny
Sandusky, Ohio.—Bond Offering.—'Proposals will be County Common Pleas Court No. 2 , has granted an injunc
received until 12 m. Dec. 28 by Joseph Loth Jr., City Auditor, tion restraining this borough from issuing the $1 0 0 ,0 0 0 water
for $5,000 4 % Scott Street Alley and Finch Street sewer bonds works bonds voted on June 16. See V. 87, p. 435. The
Denomination $1,000. Date Sept. 1 1908. Interest semi application for an injunction was made by the Tarentum
annually at the City Treasurer’s office. Maturity Sept. 1 Water Co. and the Allegheny Valley Water Co.,with whom
it is said a contract to supply the borough was made by the
1910. Certified check for $1,000 is required.
Sampson County (P. O. Clinton), No. Caro.—Bond Sale.— council on Jan. 18 1892.
Terre Haute, Vigo County, Ind.—•Bond Sale.—-The Meyer
On Dec. 7 D. M. Patrick was awarded $10,000 5% 1 0 -year
road-improvement bonds at 100.10. An offer at par was Kiser Bank of Indianapolis,offering 102.20,was the successful
also received from L. A. Bethune. Denomination $500. bidder on Dec. 7 for the $70,000 4% gold coupon crematory,
park and funding bonds, a description of which was given
Date Jan. 1 1909. Interest semi-annual.
Saratoga County, N. Y.—Bond Sale.—On Dec. 10 N. W. in V. 87, p. 1495. Maturity 1918, subject to call $14,000
Halsey & Co. of New York City were awarded the $100,000 yearly after the first six years. Purchaser to pay accrued
5% 5-9-ycar (serial) road bonds described in V. 87, p. 1370, interest.
are the bids:
at 107.427—a basis of about 3.783. The bids received were M cyFollowing
e r -K ls e r B a n k ,I n d p ls -$ 7 1 ,540 O O lU nlted S tates T r u s t C o .,
as follows:
M ille r ,A d a m s & C o .,In d p ls . 71,286 00
T e rre H a u t e ------------------- $71 .# 7 8 *6
N . W . H a l s c y & C o . , N . Y . . $ 1 0 7 , 4 2 7 0 0 |A d a m s & C o . , N e w Y o r k $ 1 0 5 , 6 8 5
F e n w i c k A R o c e r s o n . N .Y . 1 0 6 ,5 3 0 0 0 P a r k in s o n & B u r r , B o s t o n 1 0 5 ,0 5 1
G e o . M . H a lm , N e w Y o r k . 1 0 6 ,2 9 0 0 0 B a lls t o n S p a N a t . B a n k ,
B a l l s t o n S p a _______________ 1 0 5 , 5 9 4
B l o d g c t , M e r r it t & C o ., N .Y 1 0 6 ,1 9 0 00
D o m i n i c k A D o m l n l c k . N . Y 1 0 6 , 1 7 0 0 0 F e r r i s & W h i t e , N . Y _____ 1 0 5 , 5 # 0
M o r a n & C o ., N e w Y o r k - .1 0 6 .t 3 7 0 0 E . H . R o llin s & S o n s , B o s t l0 5 ,3 3 3
. J . D . E v e r l t t & C o . , N . Y . . 1 0 6 . 1 2 3 0 0 F a r s o n , S o n 8c C o . , N . Y . . 1 0 5 . 3 1 5
J . S .I I l a c h e & C o ., N . Y . _ 1 0 6 ,0 7 7 0 0 A . B . L e a c h & C o . , N . Y . .1 0 5 ,0 5 7
J.
H . D e R l d d e r , N e w T 'k 1 0 6 ,0 3 4 0 0 F ir s t N a t . B a n k , B a ll s .S p a lO S ,0 1 1
E d m . S e y m o u r A C o ., N .Y 1 0 5 .0 0 5
F ir s t N a t . B a n k , S a r a t o g a
O t is & H o u g h , C l e v e l a n d - 1 0 4 ,8 2 6
S p r i n g s _______ ______________ 1 0 # , 0 2 4 0 0
K o u n t z c B r o s . . N e w Y ' k . 1 0 5 , 7 7 0 0 0 J . J . H a r t , A l b a n y __________1 0 4 , 6 9 2
W .
N . C o le r & C o ., N . Y . 1 0 5 ,6 8 9 0 0 S e c u r it y S a v in g s B a n k &
| T r u s t C o . , T o l e d o ................1 0 3 , 5 6 2
,
>iK
rt,
m
00
00
J.
F . W ild & C o ., I n d p l s .. 71,232 00 [G . L. P a y n e . I n d la a a p o lls 78,783 00
Triadelphia School District (P. O. Triadelphia), Ohio
00
County, W. Va.—Bond Election.—A proposition to issue
00
$43,000 5% school-building bonds will bo submitted to a
00
00
vote of the people on Dec. 12. Denomination $500. Date
00
Jan. 1 1909. Interest annual. Maturity on Jan. 1 as
07
00
follows: $8,500 in 1919; 31,000 in each of the years 1920
00
1921 and 1922; $1,500 yearly from 1923 to 1929 inclusive;
00
$2,000 yearly from 1930 to 1933 inclusive; $2,500 yearly
50
from 1934 to 1937 inclusive and $3,000 in 1938.
^jSeneca, Oconee County, S. C.—Bond Sale.—The $25,000
Troy, N. Y.—Bond Offering.—Proposals were asked for
5 % 20-40-year (optional) coupon water and light bonds voted
until 11 a. m. yesterday (Dec. 11) by H. W. Gordinier, City
on Nov. 3 (V. 87, p. 1310) have been sold at private sale. Comptroller, for the following
registered 1-20-year
Interest semi-annual. Bonds are exempt from taxation.
(serial) bonds:
(^Seymour, Baylor County, Texas.—Bonds Voted.—-An $45 ,000 00 b o n d s fo r the purchase o f a site fo r a new s c h o o l. D ate D e*. 1
1908.
election held Nov. 30 resulted in favor of the issuance of 10,930 08 ta
x -d e fic ie n c y b o n d s.
A u th o r it y C h a p ter 47 3 , L a w s o f 1806,
an d C h apter 329 , Law s o f 1907.
D a te O c t . 28 1908.
$40,000 4% 5-40-year (optional) water and sewer bonds.
20,983 47 ta x -d e ftc le n c y b o n d s.
A u th o rity C h apter 47 3 , L a w s * f 1806
Date of sale not yet determined.
an d C h apter 329 , Law s o f 1907. D a te O c t . 28 1908.
Sherman, Tex.—Bonds Registered.—On Nov. 30 $14,000
Interest semi-annually at the office of the City Treasurer.
1-28-year (serial) water-works and $10,000 1-32-year (serial) Bonds are tax-exempt. Purchaser to pay accrued interest.
electric-light ±lA % bonds were registered by the State Official circular states that the city has never defaulted in
Comptroller. As reported in V. 87, p. 1316, the $14,000 any of its obligations. The result of this bond offering was
water-works and $14,000 of the $10,000 electric-light bonds not known to us at the hour of going to press.
were purchased on Oct. 19 by A. B. Leach & Co. of Chicago
Tulsa County (Okla) School Districts.—Bond Sales.—■
for|$28,151 (100.539) and accrued interest, while the remain The Oklahoma Bond & Trust Co. of Guthrie was recently
ing $2,000 electric-light bonds were taken by the Sinking awarded the following 0 % bonds at 1 0 1 :
Fund.
$ 3 ,000 S ch o o l D istrict N o . 17 b o n d s .
D ate S e p t. 1# 180 8.
A ssessed
v a lu a tio n $ 3 1 0 ,8 2 2 . M a tu rity J u ly 1 1823.
Solon Township (P. O. Cleveland), Cuyahoga County,
1,250 S ch o o l D istrict N o . 19 b o n d s.
D ate A u c . 1 180 8.
A ssessed
Ohio.—Bonds Voted.—On Nov. 28 this townshp voted, it is
v a lu a tio n $ 1 3 5 ,9 8 0 . M a tu rity J u ly 1 1928.
stated, to issue $4,000 school-house bonds. The vote was
Interest Jan. 1 and July 1 at the fiscal agency in New
36 to 12.
York City. Total debt, the above issue.
Spirit Lake, la.—Bond Sale.—Geo. M. Bechtel & Co. of
Twin Falls County (P. O. Twin Falls), Idaho.—Bend.
Davenport have been awarded the following bonds:
Offering.—Proposals will be received up to and including
$ 2 2 ,0 0 0 5 % £ w a t e r -w o r k s b o n d s .
D e n o m in a t io n $ 1 ,0 0 0 .
M a tu r ity N o v . 1
Dec. 12 (for the sale at 2 p. m. Dec. 14) by H. P. West,
1 9 2 8 , s u b j e c t t o c a ll o n N o v . 1 a s f o llo w s : $ 1 ,0 0 0 y e a r ly f r o m
1 9 1 2 t o 1 8 2 1 , I n c lu s iv e , a n d $ 1 2 ,0 0 0 a f t e r 1 9 2 2 .
County Auditor and Clerk, for $150,000 5% court-house2 ,0 0 0 1 5 % lig h t in g b o n d s .
D e n o m in a tio n $ 5 0 0 .
M a tu rity $ 5 0 0 y e a r ly
construction bonds. Date Feb. 1 1909. Interest semi
on N
. 1 fr o m 1 9 2 0 t o 1 9 2 3 , In c lu s iv e .
in Twin Falls or at the National City Bank in New
RF\Tho above bonds are dated Nov. 2 1908. Interest semi annually
York City. Maturity twenty years, subject to call one-tenth
annually at the banking house of Geo. M. Bechtel & Co. of yearly
after ten years. Certified check for 5% of the amount
Davenport.
.............................. • •<•I .•
bid, payable to the Board of County Commissioners, is
fFrSpooner, Beltrami County, Minn.—Bonds to Be Offered required.
Shortly.—A letter received by us on Dec. 11 stated that the
Vergennes, Vt.—Bonds Not Sold.—No award has yet been
$5,000 funding and $15,000 water-main bonds voted on Oct. made
of the $25,000 4% 2 0 -year water bonds mentioned in
6 (V. 87, p. 1194) will be placed on the market in about ten
V. 87, p. 835.
days.
Vernon, Wilbarger County, Texas.—Bond Offering.—ProSpringfield, Clark County, Ohio.—Bond Sale.—On Dec. 8 posals
will be received until 3:30 p. m. Dec. 18 by A. B. Sher
the $4,079 40 5 % 1 - 1 0 -year (serial) coupon Fountain Avenue rill,
City Secretary, for $40,000 4% bonds, for the following
improvement assessment bonds described inV. 87, p. 1439, purposes:
$15,000 for water-works, $10,000 for high-school
were sold to the Davies-Bcrtram Co. of Cincinnati for building, $10,000
sewerage and $5,000 for city-hall. Au
$4,229 40—the price thus being 103.077. Bids were also thority vote of 2 0for“ for”
to 1 “ against” at an election held
received from the American Trust & Savings Co. and the Oct. 9 ; also Article 471 to 477
and all the remainder
Citizens’ National Bank , both of Springfield, and the New of Chapter 4, Title 18, Laws inclusive,
of 1895. Denomination $500.
First National Bank of Columbus.
‘
j ;
Date Oct. 15 1908. Interest semi-annually at Vernon.
"Starke, Bradford County, Fla.—Bonds Awarded in "Part.— Maturity twenty-five years, subject to call after three
Of the $1 2 ,0 0 0 6 % 2 0 -year gold coupon water and electric- years. Bonded debt at present, $6,270. Floating debt
light-plant-improvement and extension bonds offered on (about) $3,000. Assessed valuation 1908, $1,568,214.
Nov. 18 (V. 87, p. 906) $0,000 have been disposed of at par
Visalia, Cal.—Bond Sale.—According to reports the State
as follows: $3,000 to W. O. Tison of Gainesville and $3,000 Board
Examiners has been awarded $45,000 bonds for
to the Bradford County Bank of Starke. We are advised $47,992of50—the
price thus being 106.648.
that the remaining bonds of this issue will be disposed of
Wagoner County (Okla.) School Districts.—Bond Sales.—•
as the money is needed and that they will be purchased by
thefsamo parties.'1'
..'IT,/ ,
• •i 'J
? ' The following 6 % bonds were recently bought by the Okla
Bond & Trust Co. of Guthrie at 101:
| tSteubenville, Ohio.—Bond Offering.—Proposals will " be homa
l D istrict N o . 62 b o n d s ,d a t e d N o v . 6 1 9 0 8 .
A ssessed v a lu a
received until 12 m. Dec. 15 by the City Auditor for $14,000 $1,800 Stiochno o$46
,766 .
4Yi,% coupon Steubenville and Mingo Road improvement 1,000 S ch o o l D istrict N o . 42 b o n d s ,d a te d S e p t. 11 190 8. A ssessed v a lu a
8 ,9 3 2 .
bonds. Authority Sections Nos. 95 and 53 Municipal Code. 1,5 0 0 tioSnch$9
o o l D istrict N o . 32 b o n d s ,d a te d S e p t. 1 190 8.
A sesessed r a lu a Denomination $500. Date Nov. 15 :1908. Interest ^’semi E i i - K I t o n $ 57 ,728 .
o t
THE CHRONICLE
1 5 6 2
Interest Jan. 1 and July 1 at the fiscal agency in New York
City. Maturity July 1 1928. The above districts have
no other debt.
Waltham, Maas.—Temporary Loan.—A loan of $25,000
has been negotiated with Loring, Tolman & Tupper of Boston
at 3.14% discount. Loan is dated Dec. 3 1908 andmatures
Feb. 4 1 909.
Waterbury, New Haven County, Conn—Bond Offering.__
Proposals will be received until 8 p. m. Jan. 11 by William
H. Sandland, City Clerk, for $100,000 4 % water bonds
Denomination $1,000. Date Jan. 1 1909. Interest semi
annually at the Columbia Trust Co. in New York City.
,^c re£istered if purchaser desires. Maturity
$10,000 yearly on Jan. 1 from 1910 to 1919 inclusive. Certi
fied check for 1% of the bonds bid for, payable to the City
Treasurer, is required.
Weehawken Township (P. O. Station 1, Hoboken), Hud
son County, N. 3.—Bond Sale.—The $136,000 4 )^% 1-2 0 (serial) coupon funding bonds described in V. 87, p
1440, were sold on Dec. 7 to O’Connor & Kahler of New York
City at 101.939—a basis of about 4.27%.
Westchester County (P. O. White Plains), N. Y .—Bond
Offering. Proposals will be received until 2 p. m. Jan. 5
1909 by the Bronx Valley Sewer Commission, William
Archer, John E. Andrus and John J. Brown, for $1,250,000
4% coupon (with privilege of registration) Sanitary Sewer
District bonds. Authority Chapter 646, Laws of 1905, as
amended by Chapter 747, Laws of 1907. Denomination
$1,000. Interest, commencing Jan. 1 1909, payable semi
annually at the Mechanics’ National Bank in New York
City. Maturity $25,000 yearly on Jan. 1 from 1933 to 1982
inclusive. Bonds are exempt from taxation and will be
delivered on Jan. 19 1909. Certified check on a bank or
trust co. for 5% of bonds bid for is required.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
N E W
[V O L . L X X X Y Il.
West Grove, Vs..—Bond Sale.—An issue of $10,000 4%
street-improvement bonds has been disposed of at par to
local investors. Denomination $1 0 0 . Date 1908. Interest
April 1 and Oct. 1 . Maturity 1938, subject to call at option
of the borough.
Wilmington, No. Car .—Bond Sale.—On Dec. 7 N. W.
Harris & Co.of New York City were awarded the $400,000
fP"o£ar ??Y,poI\
anc* sewerage bonds described in
Y/’ P-J.441.’ at 103.318 for 4J^s—a basis of about 4.325%.
Ihe following bids were received for 4 j^s:
N . W . H a r r is & C o ., N . Y . .* 4 1 3 ,2 7 2
W e l l , R o t h & C o . , C l n c l n ____ 4 0 8 , 3 0 0
T r o w b r ’g e & N lv e r C o .l
F a r s o n S o n & C o _____ J C h i c . b 4 0 7 , 0 6 5
T .
J . B o l g e r & C o __J
S e c u r ity T r u s t C o ., S p a r ’g ..a 4 0 5 ,4 8 0
non
Southern National Bank,
Wilmington .................. _ . _ x * 4 0 5 , 3 2 5
MacDonald, M c C o y & C o . , C h . a 4 0 5 , 2 0 9
F o r r e s t & C o . , P h i l ............... C 4 0 4 .1 0 7 1 6
M u r ch e s o n N a t . B a n k , W ilm ’ g t ’ n ( f o r * 2 0 0 , 0 0 0 ) ........................ p a r
0 T ? e s ^ b id d e r s a ls o m a d e a n o ffe r o f * 4 2 8 ,-
5200 M O J an
i
ffir K o O .O O O
M a r 'f
T o o o S S 'f & o O W
A
otm Y
I
o'
I Y
All bidders offered accruedinterestin addition to their bids.
Winthrop, Mass.—Bond Sale.—This place, it is stated,
has sold $40,000 4% 1-20-year (serial) school bonds dated
i ° xt *vu ^tr '
]s5; so r?Ported that $35,000 was awarded
Boston, at 1 0 2 and the balance
($5,000) at private sale.
Wood County (P O. Bowling Green), Ohio. —Bond Offer
ing.—Proposals will be received until 11 a. m. Dec 18 by
F. W. Toan, County Auditor, for $50,000 5% coupon publichighway-improvement bonds. Denomination $1 ,0 0 0 . Date
Dec. 21 1908. Interest March 1 and Sept. 1 at the County
Treasurer’s office in Bowling Green. Maturity $5,000 each
six months from March 1 1909 to Sept. 1 1913 inclusive.
Certified c e k for $1,000 drawn on a bank of Bowling Green
is required ^ Olticial circular states there has never been
any default in the payment of principal or interest. A like
amount of bonds was disposed of on Oct. 5 . See V. 87, p.
6 .
If these are the same securities, we have not yet been
advised as to why the original sale failed of consummation.
pi-T^YY01-0’ Neb- Bond Offering.—G. T. Stephenson,
City treasurer, is offering for sale $30,000 4% refunding
bonds. Denomination $1 ,0 0 0 .
L O A N S .
N E W
L O A N S .
S I,2 5 0 , OOO
WESTCHESTER COUNTY, N. Y., S T A T E
O F
N EW
Y O R K
BONDS FOR SALE
S e a le d b id s w ill b e r e c e i v e d b y t h e B r o n x V a l l e y
S e w e r C o m m is s io n a t th e ir o ff ic e , N o . 2 G r a n d
S t r e e t in t h e v illa g e o f W h it e P la in s , N . Y . u n t il
2 o ’c lo c k p . m . o n th e
5 T H D A Y O F J A N U A R Y 1909
fo r th e p u rch a se o f O N E M IL L IO N T W O H U N
D R E D A N D F I F T Y T H O U S A N D ( $ 1 ,2 5 0 ,0 0 0 )
DOLLARS W e s t c h e s t e r C o u n t y b o n d s , k n o w n a
T h e S a n it a r y S e w e r D is tr ic t b o n d s o f th e C o u n t y
o f W e s t c h e s t e r , w h ic h b o n d s a r e is s u e d p u r s u a n t
t o th e p r o v is io n s o f C h a p te r 6 4 6 o f th e L a w s o f
1 9 0 5 , as a m e n d e d b y C h a p ter 747 o f th e L aw s
of 1907.
T h e s a id b o n d s m a t u r e a n d a r c p a y a b le a t t h e
M e c h a n ic s ’ N a t io n a l B a n k o f th e C ity o f N e w Y o r k
In t h e C i t y a n d S t a t e o f N e w Y o r k , a s f o l l o w s :
T w e n ty -liv e
T h ou san d
(* 2 5 ,0 0 0 )
D o lla r s
i
Jan u a ry
1
1933
and
T w e n ty -liv e
T h ou san d
(* 2 5 ,0 0 0 ) D o lla r s o n th e fir s t d a y o f J a n u a r y o f
e a c h s u c c e e d in g y e a r t o a n d I n c lu d in g th e y e a r
1982.
S a i d b o n d s a r e In f o r m c o u p o n b o n d s , b u t w i t h
p r iv ile g e o f r e g is tr a tio n , a re e x e m p t fr o m
a ll
ta x a t io n , a n d b e a r In te re st a t th e r a te o f
F O U R P E R C E N T (4 % ) P E R A N N U M ,
f r o m th e fir s t d a y o f J a n u a r y 1 9 0 9 , p a y a b le s e m i
a n n u a l ly o n t h e fir s t d a y o f J a n u a r y a n d J u ly o f
e a c h y e a r a t th e M e c h a n ic s ’ N a t io n a l B a n k o f th e
C i t y o f N e w Y o r k In t h e C i t y a n d S t a t e o f N e w
Y ork.
S a id b o n d s a r e t o b e o f th e d e n o m in a t io n o f
O n e T h o u s a n d (* 1 ,0 0 0 ) D o lla r s e a c h .
B i d s w ill
b e r e c e iv e d f o r a p a r t o r t h e w h o le o f s a id b o n d s .
A ll b id s m u s t b e e n c lo s e d in s e a le d e n v e lo p e s a n d
e n d o r s e d , “ B id s fo r th e P u rc h a s e o f S a n ita r y
S e w e r D is tr ic t B o n d s o f th e C o u n t y o f W e s t
c h e s t e r ,”
and
d e liv e r e d
to
th e
B ron x
V a lle y
S e w e r C o m m i s s i o n a t Its o f f i c e N o . 2 G r a n d S t r e e t
W h it e P la in s , N . Y . , o n o r b e fo r e 2 o ’ c lo c k p . m
o n th e 5 th d a y o f J a n u a ry 1 90 9.
T h e C o m m is s io n re s e r v e s th e r ig h t t o r e je c t a n y
a n d a ll b id s .
E a ch b id m u s t b e a c c o m p a n ie d b y
a c e r tifie d c h e c k o n a b a n k o r t r u s t c o m p a n y fo r
liv e p e r c e n t ( 5 % ) o f t h e a m o u n t o f t h e p a r v a lu e
o f t h e b o n d s b id f o r .
T h e s u c c e s s fu l b id d e r m u s t
p a y fo r b o n d s o n th e 1 9 th d a y o f J a n u a ry 1909 a t
10 o ’ clo c k a . m
a t th e o ffic e o f th e C o u n ty
T r e a s u r e r , W h i t e P la in s , N . Y . , a t w h ic h t im e
s a id b o n d s w ill b e r e a d y f o r d e l i v e r y .
D ecem b er 4 1908.
W IL L IA M A R C H E R ,
JO H N E. A N D R U S,
„
JO H N J. B R O W N ,
B ron x
V a lle y
S ew er
C o m m is s io n .
b
l
a
c
k
s t
a
f
f
&
C O ,
IN V E S T M E N T S
H igh w ay Im p ro v e m e n t
E X E M P T
T A X A T IO N
D a t e d S e p t . 1, 1 9 0 8
Due
S e p t . 1, 1 9 5 8
AMOUNTIN.GfiTO
8
5
,0
Is s u e d
0
0
,0
0
0
.
0
0
in C o u p o n o r R e g is t e r e d F o r m
Will Be Sold Thursday, December
17
th, 1 9 0 8
A t 2 o ’C l o c k P . M . , a t t h e
State Comptroller's Office, Albany, N. Y,
T h e se B o n d s A re
Legal Investments for Trust Funds
No bids will be accepted for less than the par value of the bonds nor unless
accompanied by a deposit of money or by a certified check or bank draft upon a
solvent bank or trust company of the cities of Albany or New York payable to
the order of the Comptroller of the State of New York, for at least two per cent
of the par value of the bonds bid for.
i Ah proposals, together with the security deposits, must be sealed and^enclorsed Loan for Highway Improvement,” and enclosed in a sealed envelope'di
rected to the Comptroller of the State of New York, Albany.”
All bids will include accrued interest.
The Comptroller reserves the right to reject any or all bids which are not
in his opinion advantageous to the interests of the State.
1332 Walnut Street
PHILADELPHIA
LIST OF SPECIALTIES ON REQUEST
FR O M
Gold B on ds
FOR FURTHER PARTICULARS, ADDRESS
M A R T IN
H . G L Y N N , S ta te C o m p t r o lle r , A lb a n y , N . Y .
Dated Albany, November 21,T908.
THE CHRONICLE
Deo. 12 1908. j
Fort Erie, Ont.—Pn'ci
Y o n k e rs,
N . Y .— B on d
O f f e r i n g . — Proposals will be re
ceived until 12 m. Dec. 15 by James T. Lennon, City Comp
troller, for the following bonds:
150 000
c it y -h a ll b o n d s .
M a t u r it y 1 2 .5 0 0 y e a r ly o n D e c .
*
1 00 9 t o 1 9 2 8 In c lu s iv e .
1 0 0 0 0 0 4 'A % a s s e s s m e n t b o n d s .
M a t u r it y 1 1 0 ,0 0 0 y e a r ly o n
’
fr o m 1 9 0 9 t o 191 8 In clu s iv e .
in fo r m e d
T o ro n to
C o u n ty
S c h o o l D is tr ic t N o .
1 , A r i z .—
B ond
th e
b e
p r ic e
r e c e n tly
(V . 8 7 , p .
Ladysmith,
.
1
Date Dec. 1 1908. Interest April 1 and Oct. 1. Certified
check for 2% of bonds bid for, payable to Gideon H. Peck,
City Treasurer, is required. Delivery Dec. 21 1908.
Y u m a
th a t
d e b e n tu re s
1 fr o m
D ec.
1 5 6 3
r e c e iv e d
a w a rd ed
to
1 49 6) w a s
B .
0 .—
u n til
D e c.
for D«bentures.—'We
P a id
p a id
fo r
th e
$ 1 0 ,0 0 0
th e
O n ta r io
5 %
a re
sc h o o l
S e c u r itie s
C o. e f
1 0 1 .6 1 .
D e b tn tu r t
O f f e r i n g .—
30
fo llo w in g
fo r
th e
P r o p o s a ls
w ill
d e b e n tu re s:
$ 5 0 ,0 0 0 8 % 2 5 -y e a r * e w e r a g e -* y * t e m d e b e n t u r e * .
2 5 ,0 0 0
5 % 5 -2 5 -y e a r (o p t io n a l) e le c t r lc -llg h t d e b e n tu r e s .
Listowell, Ont.— D e b e n t u r e s
N o v .
O ffe r in g .
_.Proposals will be received until 11 a. m. Dec. 26 by John
Polhamus, Clerk of Board of County Supervisors (P. O.
Yuma), for $10,000 6 % gold bonds. Authority Paragraph
2182 to 2188 inclusive of the Revised Statutes of 1901.
Denomination $500. Date Nov. 16 1908. Interest annual.
Maturity Nov. 16 1928, subject to call after ten years.
Certified check for 10% of bonds bid for, payable to Geo.
Michelsen, County Treasurer, is required. Bonded debt of
district is $37,000. Assessed valuation 1908, $2,649,494.
30
r e s u lt e d
in
fa v o r
o f
A n
V o t e d .—
a
p r o p o s it io n
e le c tio n
to
is s u e
h e ld
$ 2 5 ,0 0 0
d e b e n tu re s.
Noble View School District No. 2120, Sask.— D e b e n t u r e
O n
S a le .—
a w a rd e d
D e c.
1
D e c.
to
1
th e
1 9 0 8 .
£ 1 ,5 0 0
S e c u r ity
In te re st
b e
h e ld
th e
is s u a n c e
J a n .
o f
c o n s tr u c tio n
b u ild in g
C o .
as
4
d e b e n tu re s
p e r
1 %
ce n ts.
w ere
D a te
a n n u a l.
Ont.— D e b e n t u r e
P e te rb o ro u g h ,
w ill
1 0 -y e a r
L o a n
1909
$ 1 5 ,0 0 0
to
v o te
E le c t io n .—
on
stre e t
a
a n d
b y -la w
$ 6 ,0 0 0
A n
e le c tio n
p r o v id in g
fo r
w a te r -fr o n t-r e
d e b e n tu re s.
Shawlands School District No. 2161 (P. O. Headlands),
Sask . — D e b e n t u r e S a l e . — A n i s s u e o f $ 1 , 2 0 0 Q } 4 % d e b e n t u r e s
C a n a d a , its P r o v in c e s a n d M u n ic ip a lit ie s .
h a s
—D e b e n t u r e E l e c t i o n . —Propositions to issue
$1 1 ,0 0 0 park and $1 2 ,0 0 0 electric-light-plant-cxtcnsion 4J^%
debentures maturing part yearly from 1910 to 1929 inclusive
will be submitted to a vote of the people on January 4 1909.
C a m ro se ,
A l b e r t a . —D e b e n t u r e
S a l e . — The
$8,000 7%
municipal debentures offered on Oct. 1 (V. 87, p . 828) have
been awarded to the Royal Securities Co., Ltd., of Montreal
at 98.10 and accrued interest.
C o b o u r g , O n t . —D e b e n t u r e s
P r o p o s e d . —We see it stated
that this town proposes to issue $1,300 4J^% Ontario St.
sewer-construction debentures maturing part yearly for 10
years.
B a r r ie ,
O n t.
F a ir m o u n t
S c h o o l D is tr ic t N o . 1 6 5 1
(P . O . T ro c h u
5 %
City of M in n e a p o lis, M in n ,
b * C lr c u la r c o n t a in in g
fu ll p a r tic u la r s
w ill b e
m a ile d
upon
a p p lic a t io n .
D AN C. B R O W N .
„
C ity C o m p tr o lle r .
8 1 0 ,5 0 0
CITY OF H )B0 £EN, N. J,,
Wednesday Evening. December 23, 1908,
at 8 o’clock p. rn.
B id d e r s t o s t a t e p r ic e s o n b o n d s b e a r in g I n t e r e s t
a t th e ra te o f fo u r p e r c e n t (4 % ) p e r a n n u m ,
p a y a b le s e m i-a n n u a lly .
A ll p r o p o s a l s m u s t b e d i r e c t e d t o t h e M a y o r
a n d C o u n c il o f th e C it y o f H o b o k e n , N . J .. a n d
s h a ll b e a c c o m p a n i e d b y a c e r t ifie d c h e c k f o r
o n e th o u s a n d d o lla r s ($ 1 ,0 0 0 ) .
T h e M a y o r a n d C o u n c il o f th e C it y o f H o b o k e n
r e s e r v e t h e r i g h t t o r e j e c t a n y o r a ll b id s If d e e m e d
In t h e I n t e r e s t o f t h e c i t y s o t o d o .
B y o r d e r o f th e C o u n c il.
LONDRIOAN,
C it y C le r k .
U s t a b lla lU M l
B a n k
B u ild in g , C h ic a g o
C O U N T Y
A N D
T O W N S H IP
D
A
M
R
C
L ife
S a l e .—
w a s th e
te n
D o m in io n
r e c e n tly
S a l e .—
b o u g h t
d e b e n tu re s
T h e
o f
$ 1 ,6 0 0
te n
y ea rs
w a s
o f
G e o .
S 1 9 ,0 0 0
m a tu r in g
p a rt
T o ro n to .
6 %
d e b e n tu re s
r e c e n tly
A .
5 %
In te re st
are
in fo r m e d
d e b e n tu re s
D o m in io n
T e l.
b e
o n
p la c e d
on
d a te
y e a r ly
fo r
to
G e o .
tw e n ty
O ct.
21
m a rk e t
D e c.
to
7
C o .
(V .
b e fo r e
s ix
y e a rs.
y e a r ly
S tim s o n
&
A n
fo r
C o.
th e
th e
8 7 ,
S I 1 ,0 0 0
fa cto r y
p .
1 1 9 /)
o f
w ill
5 %
th e
n o t
m o n tlis .
N E W
L O A N S .
$ 9 8 ,5 0 0
N, J,,
Union Free School District No. 3,
T ow n
B O N D S
Wednesday Evening. December 23, 1908,
a t 8 o ’c lo c k p .m .,
B id d e r s t o s t a t e p r ic e s o n b o n d s b e a r in g In te re s t
a t th e ra te o f fo u r p e r c e n t (4 % ) p e r a n n u m ,
p a y a b le s e m i-a n n u a lly .
A ll p r o p o s a ls m u s t b e d ir e c t e d t o th e M a y o r
a n d C o u n c il o f th e C it y o f H o b o k e n . N . J .. a n d
s h a ll b e a c c o m p a n ie d b y a c e r tifie d c h e c k fo r
o n e t h o u s a n d d o lla r s ( $ 1 ,0 0 0 ).
T h e M a y o r a n d C o u n c il o f th e C it y o f H o b o k e n ,
r e s e r v e t h e r i g h t t o r e j e c t a n y o r a ll b id s If d e e m e d
In t h e I n t e r e s t o f t h e c i t y s o t o d o .
B y o r d e r o f t h e C o u n c il.
JA M E S H . L O N D R IG A N ,
C ity C le rk .
E sse x
th a t
b u ild
o f
H u n tin g to n , S u ffo lk
4 1 4 %
I r v in g to n ,
C o.
lig h t
S a l e .—
$ 16 0
A .
&
a n d
N o t to b e O ffe r e d a t P r e s e n t .—
o f
M a n u fa c tu r in g
th e
o f.
a n n u a l.
u n d e r
v o te d
$ 3 ,0 5 0
S tim s o n
w a te r
m a tu r in g
a w a rd e d
Waterford, Ont.—D e b e n t u r e s
W e
o f
S e c u r i
d is p o s e d
Tamarisk School District, Man.—D e b e n t u r e
is s u e
C o .
y e a rs.
D e b e n tu r e
L O A N S .
SE W E R
In su ra n ce
s u c c e s s fu l b id d e r fo r
d e b e n tu re s
fo r
r e c e n tly
C o .,
N .
J .
BONDS
P r o p o s a ls fo r th e p u rch a se o f fifty -fiv e t h o u
s a n d d o lla r s ($ 5 5 ,0 0 0 ) o f s e w e r b o n d s o f th e
t o w n o f I r v i n g t o n , E s s e x C o u n t y , N . J . , w ill
b e r e c e iv e d a t th e o ff ic e o f th e T o w n C le rk , T o w n
H a ll, I r v in g t o n , N . J . , o n o r b e fo r e T U E S D A Y ,
D E C E M B E R 15, 1 00 8. A T 8 O ’C L O C K P . M .
S a id b o n d s t o b e o f t h e d e n o m in a t io n o f o n e
th ou sa n d
d o lla r s e a c h
($ 1 ,0 0 0 ),
and
p a y a b le
t h ir t y y e a r s fr o m d a t e , b e a r in g In te re s t a t th e
r a t e o f f o u r a n d o n e - h a l f (4 M ) p e r c e n t u m p e r
a n n u m , p a y a b le s e m i-a n n u a lly a t th e M e r ch a n ts
N a t io n a l B a n k , N e w a r k , N . J ., s a id b o n d s t o b e
e it h e r c o u p o n o r re g is te r e d a t th e o p t io n o f th e
h o ld e r.
.
T h e c o u n c il r e s e rv e s th e r ig h t t o r e je c t a n y o r
a l l p r o p o s a l s i f , I n t h e i r J u d g m e n t , I t Is t o t h e
In terest o f th e to w n to d o s o .
I r v in g t o n , D e c e m b e r 9 , 1 9 0 8 .
M . S T O C K M A N , T o w n C le r k
C o .,
N. Y .
B O N D S
N o t i c e Is h e r e b y g i v e n t h a t t h e B o a r d o f E d u
c a t io n o f U n io n F r e e S c h o o l D is t r ic t N o . 3 , T o w n
o f H u n t i n g t o n , C o u n t y o f S u H o lk , w ill r e c e iv e
s e a le d p r o p o s a ls a t t h e C o u r t R o o m , H u n t i n g t o n ,
N e w Y o r k , u n til 2 o ’ c lo c k P . M . o n th e 1 7 th d a y
o f D e c e m b e r , 1 9 0 8 , fo r th e p u r c h a s e o f n in e ty n in e b o n d s o f s a id D is t r ic t , n i n e t y - e ig h t b o n d s t o
b e o f t h e d e n o m i n a t io n o f O n e T h o u s a n d D o lla r s
e a c h , a n d t o b e n u m b e r e d fr o m 1 t o 9 8 , I n c lu s iv e ,
a n d o n e b o n d t o b e o f th e d e n o m in a t io n o f F iv e
H u n d r e d D o lla r s , a n d t o b e n u m b e r e d 9 9 , a ll
b e a r in g In te re s t a t th e r a t e o f fo u r a n d o n e -q u a r
t e r p e r c e n t ( 4 X % ) p e r a n n u m , p a y a b le s e m i
a n n u a lly a t th e F ir s t N a t io n a l B a n k o f H u n t in g
t o n t o t h e h o l d e r t h e r e o f , In N e w Y o r k e x c h a n g e .
S a id b o n d s w ill n o t b e s o l d b e l o w p a r . w il l b e
d a t e d D e c e m b e r 1 s t , 1 9 0 8 , a n d w ill m a t u r e a s
fo llo w s : F o u r T h o u s a n d D o lla r s o n t h e fir s t d a y
o f D e c e m b e r o f e a c h y e a r , fr o m 1 9 1 5 t o 1 9 3 8 In
c lu s iv e , a n d T w e n ty -fiv e H u n d r e d
D o lla r s o n
t h e fir s t d a y o f D e c e m b e r , 1 9 3 9 .
P u r c h a s e r s w ill b e r e q u ir e d t o d e p o s i t w it h t h e ir
b i d s c e r t i f i e d c h e c k s In a m o u n t s e q u a l t o t w o p e r
ce n t (2 % ) o f th e a m o u n t o f b o n d s b d fo r , a n d to
p a y t h e b a la n c e , w ith a c c r u e d I n te r e s t, o n d e llv rey o f such b on d s.
,
,
.
T h e r i g h t t o r e j e c t a n y a n d a l l b i d s Is r e s e r v e d .
D a ted N ov em b er 2 5 th , 1908.
G E O R G E C. H E N D R IC K S O N ,
H A R R Y H . FU N N ELL,
A B R A H A M L. F IE L D .
A L B E R T S . P E T T IT .
F R E D E R IC K W
LATH AM .
B o a r d o f E d u c a t io n o f U n io n F r e e S c h o o l D is
trict N o. 3 . H u n tin g to n . N . Y .
W A I T E R E . B R Y A N T , C le rk B o a r d o f E d u F o ^ t u a ii e r p a r tic u la r s , a d d r e ss W m . S . F u n n e l l . T r e a s u r e r , H u n t i n g t o n . N . Y , _____________
m u n ic ip a l
a n d
r a i l r o a d
B O N D S .
L I8 T
OK
A P P L IC A T IO N .
3EASON0 OOD & MAYER,
m e r c a n tile
L ib r a r y
B u ild in g
C IN C IN N A T I.
HUNT, SALTO NSTALl & CO.,
Member* of New York Stock Etchant*
H. C. Speer & Sons Co.
F ir s t N a t
y e a r ly
P u b l i c n o t i c e Is h e r e b y g i v e n . I n a c c o r d a n c e
w ith a r e s o lu t io n o f t h e C o u n c il o f th e C it y o f
H o b o k e n , a n d p a ssed o n th e 2 5 th d a y o f N o v e m
b e r , 1 9 0 8 . a n d d u ly a p p r o v e d on th e 2 7 th d a y
o f N o v e m b e r . 1 9 0 8 , t h a t s e a le d p r o p o s a ls f o r t h e
p u rch a se o f b o n d s o f th e C ity o f H o b o k e n , to b e
k n o w n a s " S c h o o l B o n d s " . In t h e a m o u n t o f o n e
h u n d red
th o u s a n d
d o lla r s
($ 1 0 0 ,0 0 0 ),
to
ru n
f o r a p e r io d o f t h ir t y (3 0 ) y e a r s , fr o m th e d a t e
o f Issu e, re g is te re d o r c o u p o n , a t th e o p t io n o f th e
b i d d e r , w ill b e r e c e iv e d a t t h e r e g u l a r m e e t in g
o f th e C o u n c il to b e h e ld o n
$ 5 5 ,0 0 0
B O N D S
P u b l i c n o t i c e Is h e r e b y g i v e n . I n a c c o r d a n c e
w it h a r e s o lu tio n o f th e C o u n c il o f th e C it y o f
H o b o k e n , a n d p a s s e d o n t h e 25th d a y o f N o v e m
b e r , 1 9 0 8 , a n d d u ly a p p r o v e d o n th e 2 7 th d a y or
N o v e m b e r , 1 9 0 8 . th a t s c a le d p r o p o s a ls fo r th e
p u rch a s e o f b o n d s o f th e C ity o f H o b o k e n , to
b e k n o w n a s " S c h o o l B o n d s , " In t h e a m o u n t
o f te n t h o u s a n d fiv e h u n d r e d d o lla r s ($ 1 0 ,5 0 0 ) ,
t o r u n f o r a p e r io d o f t h ir t y (3 0 ) y e a r s , fr o m th e
d a t e o f Issu e, re g is te re d o r c o u p o n , a t th e o p t io n
o f t h e b i d d e r , w il l b e r e c e i v e d a t t h e r e g u l a r
m e e t in g o f t h e C o u n c il t o b e h e ld o n
C IT Y
p a rt
T o ro n to
e x e n s io n
S C H O O L
S e a le d b i d s w ill b e r e c e iv e d b y t h e C o m m i t t e e
o n W a y s a n d M e a n s o f th e C it y C o u n c il o f th e
C it y o f M in n e a p o lis , M in n e s o t a , a t th e o ff ic e o f
th e
u n d e rs ig n e d ,
TH U R SD A Y ,
D ECEM BER
1 7 T H . 1 9 0 8 . a t 2 o ’c lo c k p . m ., f o r th e w h o le
o r a n y p a r t o f t h e fo l lo w i n g b o n d s — 5 1 0 0 ,0 0 0
F ir e D e p a r t m e n t B o n d s , d a t e d J u ly 1 , 1 9 0 8 ,
p a y a b le J u ly 1 , 1 9 3 8 ; $ 1 1 6 ,2 0 0 V o t i n g M a c h in e
B o n d s , d a t e d J u ly 1, 1 9 0 8 , p a y a b le J u ly 1 , 1 0 2 8 ;
$ 4 6 , 0 0 0 G r a d e d S c h o o l B o n d s , d a t e d .J a n . 1 , 1 9 0 9 .
p a y a b le J a n .
1. 1939;
$ 1 1 0 ,0 0 0
H ig h
S ch ool
B o n d s , d a te d J a n . 1 1 9 0 9 , p a y a b le J a n
1 1039,
a n d $ 2 5 0 ,0 0 0 S e w e r B o n d s , d a t e d D e c . 3 1 . 1 0 0 8 ,
p a y a b le D e c . 3 1 , 1 0 3 8 .
B o n d s to b e a r In terest a t th e ra te o f fo u r (4 % )
p e r c e n t p e r a n n u m , p a y a b le s e m i-a n n u a lly .
T h e r i g h t t o r e j e c t a n y o r a l l b i d s Is r e s e r v e d .
A c e r tifie d c h e c k fo r t w o ( 2 % ) p e r c e n t o r th e
p a r v a lu e o f th e b o n d s b id fo r . m a d e t o C . S .
H u lb c r t , C ity T re a s u re r , m u s t a c c o m p a n y e a ch
JAMES H.
T o ro n to
Sudbury, Ont.—
o f
CITY OF HOBORE
BONDS
S C H O O L
M a n u fa c tu r e r s ’
8 1 0 0 ,0 0 0
$ 6 2 2 ,2 0 0
4 %
th e
lo c a l-im p r o v e m e n t
M a tu r ity
V a lle y ,)
N E W
to
1 0 0 .5 0 .
Strathroy, Ont.—D e b e n t u r e
— D e b e n t u r e S a l e . —On Nov. 25 $1,200 8 % schoolhouse debentures were disposed of at par to the Credit
Foncier of Edmonton. Interest annual. Maturity part
yearly for ten years, but subject to call at any time.
L O A N S
s o ld
a t
tie s C o ., L t d .,o f
A lb e r ta .
N E W
b een
R e g in a
MacDonald, McOoy & Go.,
M U N IC IP A L
A N D
C O R P O R A T IO N
I n v e s tm e n t S e c u r itie s
B O N D S .
60 S T A T E S T R E E T
BO STON
t8x La Salle Street, Chicago
1564
THE CHRONICLE
[VOL. LXXXVII.
T r u s t C o m p a n ie s .
Mted Slates M
I f t t t a t t c i i t l.
Company ol jin Toft
Blodget, Merritt & Co.
Chartered 1853
45 a n d 47
C APIT AL ,
-
W a l l Street.
-
BANKERS
-
$ 2 , 0 0 0 0
0 0 . 0 0
S U R P L U S A N D U N D IVID ED P R O F IT S ,
>4 0
io q
q c
This Company acts as Executor. Administrator. Guardian T n u t * .
. tT**'*’ k 0 , 3 3
ether recognised trust capacities.
araian, .trustee. Court Depositary and In
It allows Interest at current rates on deposits
WW
. „ „ „
ratpM>
111!N R V ^ Sf
W I L L I A M M.* kV n g F l E V . ' s e c o m F 'v i c ^ P r e .
W I L F R E D J WORCESTER, A . . L
m r dI i0 ^
N■ V lc- Pr es ld en l
S ~ .l.„
/ O H N A S T E W A R T . Chairman of the Board.
W
am U . Macy Jr..
John Claflln,
William D. Sloane,
John J. Phelps
Gustav H . Schwab,
John S. KennedvJ
Frank Lym an.
D . O. Mills,
George F .V Ie to r ,
Lewis Cass I.edyard
James Stillman,
Lyman J. Gage, U
John Crosby Brown,
W . Bayard Cutting,
Charles S. Smith,
William Rockefeller,
Alexander E. Orr,
R A I L R O A D
B O N D S
6 0
S ta te
S tre e t,
3 0
P in e
S tre e t, -
-
B o sto n
N e w
Y o rk
Perry, Coffin & Burr,
IN V E S T M E N T
YORK.
6 0
Capital $1,000,000
C I T Y
AND
Payne W hitney,
Edward W Sheldon.
Chauncey Keep.
George L. Rives.
Arthur O. James.
BANKERS TRUST COMPANY
7 W ALL STREET, NEW
S T A T E ,
S ta te
BON DS.
S tre e t,
Surplus and Undivided Profits, $1,198,000
B O S T O N .
D IR E C T O R S
STEPHEN BA K ER .
EDOA R L. MARSTON.
Pres. Bank of the Manhattan C o ., N . Y .
Blair & C o ., Bankers, N . Y .
SAMUEL Q. BAYNE.
OEOROE VV. PERKINS.
Pres. Seaboard National Bank, N . Y .
J. P. Morgan & C o., Bankers, N . Y .
E DW IN M. B U L K L E Y ,
Spencer Trask & C o ., Bankers, N . Y .
WI LL IA M H. PORTER.
JAMES 0 . CANNON,
Cuban Securities
Pres. Chemical National Bank, N . Y
Vlce-Pres. Fourth National Bank, N . Y .
DANIEL Q. REI D.
EDMUND C. CONVERSE.
A SPE C IA L T Y
Vlce-Pres. Liberty National Bank, N . Y .
President, New York.
E D W A R D F. SWINNEY,
HENRY P DAVISON.
Pres. EIrst National Bank, Kansas City.
Vlce-Pres. First National Bank, N . Y .
JOHN F. THOMPSON.
W AL TE R E. FR EW .
FRANCKE, THOMPSON S ROBB
Vice-President, New York.
Vlcc-Pres. Corn Exchange Bank, N . Y .
M em b ers N . Y . S tock E x oh an ge
GILBERT Q. THORNE.
F R ED ER IC K T. H A SK E LL .
Vlce-Pres. National Park Bank N
V.-Pres. Illinois Trust & Sav. Bank, Chicago.
43 Exchange Place
Y
E D W A R D TOWNSEND,
A. BARTON HEPBUR N.
President Chase National Bank, N . Y .
Telephone 6444 Hanover
Pres. Importers’ & Traders’ National Bank, N .Y
THOMAS YV. LAMONT.
h-
Second Vice-President, New York.
w iq q in
,
Vlce-Pres. Chase National Bank, N . Y .
OATES YV. M c Q A R R A H ,
4 'la to l
SAMUEL WOOLVERTON.
President Mechanics’ National Bank, N . Y .
President Gallatin National Bank, N . Y
BRANCH OFFICE
B u ild in g, 5 th A v e . and
Telephone 1656 Bryant
4!Jd Ht.
Particular attention is called to the personnel, character and strength of this
company’s directorate. Interest is allowed upon deposits
K . C . C O N V E R SE . President.
I). K. P O M E R O Y , T r e a s .
II.
.........N O V A N . A w ., ,
J . F. T H O M P S O N . V .-P .
T . W . LAAKIAT. I L L
|{, S T R O N G J r
Sec’ v
r \J . “ " m L ^ ' a . " S . c .
A lb e r t K le y b o lte & C o ,
400
HlinoisTrast&Savm gsjBank
a p
i t a l
a n
d
S
u
r p
l u
s
and
^
1
3
, 2
0
0
, 0
0
S treet,
Municipal,
County, State,
C H IC A G O
C
W a ln n t
C IN C IN N A T I, O .
H ig h -G ra d e
P u b lic
S ecu rities
0
S ervice
Correspondence Solicited
Pays Interest on i ime Deposits, Current and Reserve Accounts
Deals in Investment Securities and Foreign Exchange.
Transacts a General Trust Business.
Adrian H Muller & Son
A U C T IO N E E R S .
CORRESPONDENCE
R e g u la r W e e k ly S a le s
IN V IT E D
OF
ST O C K S
U N IT E D
Manhattan
STATES
M ORTGAGE & TR U ST
and
B O N D S
EVERY W EDN ESD AY.
O ffice,
N o. 55 W I L L I A M
STREET,
C o r n e r P i n e S treet.
COMPANY
Trust
NEW YO R K
CAPITAL,
Company
$ 2 ,0 0 0 ,0 0 0 .0 0
SURPLUS,
$ 4 ,0 0 0 ,0 0 0 .0 0
’JAM ES T A L C O T E
B a n k e r a n d C o in m ln a lo n M e r c h a n t
M an u factu rers' and oHior A ccou n t's
Solicited and Fin anced
S A L E S
20
W a ll S tre e t
Corner Nassau
N E W
Invites Personal and Business
Accounts. Acts as Trustee, Ex
ecutor, Administrator, Guard
ian and in All Fiduciary
Capacities.
Certifies M uni
cipal and Corporation Bonds.
Y O R K
M ain Store, 1 0 8 -1 1 0 F ran k lin fet., N . Y . C ity
Annexes in New Y o rk and, o th er cities
T W a ll
55 Cedar St.
7 3 rd 3 t . & B ’w a y
1 3 5 th St. & 8 th Av e.
C A S H E D
E q u itab le In terest A llow ed on D epoelts
Street
NEW
YORK
BAN K ERS
In v e stm e n t S e c u r itie s
@FedFRASER